UPay Savings Service Agreement

Prior to purchasing UPay savings products (hereinafter referred to as Savings), users are requested to read the entire UPay Savings Service Agreement (hereinafter referred to as the Agreement) carefully and fully understand the Agreement and its terms and conditions. If the user has any questions about this agreement, do not proceed to the next step.

1. The User acknowledges and fully understands the risks involved in depositing cryptocurrencies and unconditionally accepts the potential risks and benefits of his or her investment decisions. You also further understand and confirm that you have the experience and knowledge necessary to invest in non-guaranteed digital currency or assets products.

2. Our Site and Platform are not intended to provide tax, legal, insurance or investment advice, and nothing on the Site or Platform should be construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any security or crypto asset by UPay. You alone are solely responsible for determining whether any investment, security or strategy, or any other product or service, is appropriate or suitable for you based on your investment objectives and personal and financial situation. You should consult an attorney or tax professional regarding your specific legal or tax situation.
3.The UPay Savings Service allows you to stake your Digital Assets on the Platform and receive a return or yield. You may choose “fixed” or “flexible” term when subscribing for UPay Savings Service. UPay is responsible for the management and operation of the UPay Savings Service.

4. In subscribing to the UPay Savings Service, you agree and confirm to the following:
a. Any voting rights that are attached to your Saving Assets shall be assigned or delegated to UPay during the Term;
b. UPay may combine your  Savings Assets with other user’s Savings Assets; 
c. You irrevocably authoriser UPay to deal with your Savings Assets in any way it deems fit to generate the yield rate displayed on the Platform; 
d. UPay has the sole discretion to determine, from time to time, in relation the UPay Savings Service:
Minimum amounts of Digital Assets required to be deposited in order to subscribe to the UPaySavings Service:
The fund size of any particular UPay Savings Service;

any redemption period;

any redemption limits;

any subscription limits;

any annual percentage rate;

charge any fees or charges;

e. You are the legal owner of the Digital Assets that you deposit in UPay Savings Service and guarantee that the sources of these Digital Assets are legal.

5. You understand and accept the risks that may arise from using the UPay Savings Service and the losses that you may suffer from using the UPay Savings Service, including but not limited to:
a. any loss you may suffer from the risks associated with the inability to trade Digital Assets. You are willing to bear the funding risks and potential financial losses caused by staking the Digital Assets and subscribing to the UPay Savings Service;
b. The expected yields displayed on the Platform are the theoretical estimates of returns; they are not the actual returns guaranteed or promised by UPay. Actual yields may vary from the expected returns. Your final yields will be based on the actual yields you receive, which shall be distributed by UPay in its sole discretion. UPay does not make any guarantee or promise to the actual yields that you may receives;
c. Price fluctuations of digital assets and their derivatives may cause significant or total losses in a short period of time;
d. Technical anomalies may occur, which may delay or prevent you from using the UPay Savings Service or performing related transactions and result in losses of your Digital Assets;
e. Market anomalies may occur, which may result in losses of your Digital Assets;f. To maintain an orderly market, UPay is required to add, remove, or change the policies, the terms of this Agreement or other relevant service agreements or terms from time to time. Any changes may benefit or harm individual customers like you.

6. You may subscribe for a particular UPay Savings Service by staking your Digital Assets for either a fixed period (“Fixed Savings”) or flexible period (“Flexible Savings”). Any selection you make when subscribing for the UPay Savings Service is final, and cannot be cancelled, revoked or edited.

7. Your Saving Assets under Fixed Savings or Flexible Savings, will return a yield at an annual percentage rate published on the Platform when subscription is made (“APR”). A tiered-APR may apply, depending on the amount and type of Digital Assets.  The APR for any particular UPay Savings may vary from time to time. Changes to the APR will be published on the Platform. You must refer to the Platform regularly. UPaywill not be liable for any losses arising or connected with changes to the APR, whether or not you were aware of the changes.

Fixed Savings

Under Fixed Savings, you may subscribe to the product at any time during its validity period. However, you are not allowed to redeem your Savings Assets before the maturity date (the lock period) Upon maturity, your principal and earnings will be automatically credited to your walllet account at 10:00 AM (UTC+0) on the first day after the term ends.

Flexible Savings

Under Flexible Savings, you may at any time, subscribe or redeem your Saving Assets by selecting the redemption option on the Platform. After subscription, yield on your Savings Assets will start accruing from the next  UTC+0 0:00 . You must stake an entire 24 hour period to be eligible for payout of daily yield. In other words, any withdrawal or redemption before UTC+0 0:00 will not entitle you to any yield.

8. You understand and agree that between the redemption time and the actual arrival time, you will not be able to make any returns, transfer or other commands to the redeemed Savings Assets. You understand and accept that the actual time for the redeemed Savings Assets to be credited into your Funding Account may vary or be delayed in some circumstances including but not limited to events of extreme market volatility, network delays, a significant number of simultaneous instructions to redeem from other users, or there are any other unanticipated events. The arrival time shown on the website is final and UPay shall not be liable for any losses cause by the difference in arrival time.

9. For the avoidance of doubt, historical returns are not indicative of future returns. UPay does not guarantee that you will receive the interest yield at the APR published on the Platform at the time you subscribe. You agree and accept that any representation concerning possible return at the time you subscribe to the UPay Savings Service is an estimate only and not guaranteed.

10. You will be able to view your account history on the Platform. You must review your account history carefully and let UPay know if you see any entries or transactions that you do not recognize or you think are incorrect as soon as possible, and within 14 days after the date that your account history is provided or made available to you. 

11. UPay may rectify any error in your account at any time and reserve the right to void or reverse any transaction in the following instances:

involving or deriving from a manifest error (that is, any error, omission or misquote (whether an error of UPay or any third party) which is manifest or palpable, including a misquote by any representative of UPay taking into account the current market and currently advertised quotes, or any error of any information, source, official, official result or pronunciation); or

to reflect what we reasonably consider to be the correct or fair details of the transaction.

We may be required under applicable laws and regulations to share information about your accounts and use of the Platform with third parties. You acknowledge, agree and consent that we are entitled to disclose such information.

We reserve the right to, without prior notice: 

temporarily or permanently prohibit you from accessing or using the UPay Savings Service; 

impose limits on your subscription for UPay Savings Service;  

suspend or terminate the UPay Savings Service;

delay certain transactions in the UPay Savings Service. 

You understand and agree that we shall not to the maximum extent permitted by law, be liable to you for any losses caused by such prohibition, suspension or termination.

12. You shall comply with all applicable laws and regulations and ensure and cease using the UPay Savings Service where such compliance is no longer possible.

13. You agree and accept that UPay has the right to amend the content of this Agreement at any time in its sole discretion. UPay shall not be liable for any losses due to your misunderstanding of this Agreement or your failure to take note of any amendments made to this Agreement. 

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