User Agreement

Terms and Conditions | Privacy Policy

Secure Block Chains, LLC Customer Agreement

This is a contract between the user and Secure Block Chains, LLC. By creating an account with Secure Block Chains, LLC, the user agrees to all of the terms and conditions contained in this agreement and Secure Block Chain’s Privacy Policy, Disclaimer, and E-Sign Consent. Secure Block Chains, LLC, by this Customer Agreement, agrees to complete the transaction requested by the user. In exchange, the user will provide Secure Block Chains, LLC with a fee equal to 3% of the requested transaction (the “Transaction Fee”). Secure Block Chains, LLC will assess the Transaction Fee at the time Secure Block Cains, LLC completes the transaction. When making transactions with or holding digital currencies/digital assets, the risk can be substantial. Secure Block Chains, LLC is in no way responsible for these risks. Secure Block Chains and the user agree that Secure Block Chains only agrees to complete the transaction requested by the user. The user agrees that it is solely responsible for bearing any risks associated with the transaction it requests pursuant to this agreement.

Overview of Customer Agreement

  • Urgent Information before use
  • 1. Account Information
  • 2. Supplementary Information
  • 3. Reservoir Services
  • 4. Fees and Transactions
  • Intellectual Property Rights
  • Prohibited Activities
  • Mobile Application License
  • Apple and Android Devices
  • Site Management
  • Modification and Interruptions
  • Privacy Policy
  • Contact Information
  • References

Urgent Information Before Use

Destination address: The user's destination address is the user's personal wallet address.

- The user will deposit XRP to the generated wallet Reservoir provides using their destination address.

- Users will also receive their XRP to the user’s destination address when the set escrow date and time matures and is released by the user.

- For security reasons, Reservoir does not support exchange addresses. If an exchange shuts down, all addresses affiliated with that exchange could be lost.

- Secure Block Chains, LLC is not responsible for the loss of users’ XRP in the event the incorrect destination address is submitted. It is the user's responsibility to provide the destination address. This ensures the security of the user’s XRP. The user and Secure Block Chains, LLC agree that Secure Block Chains, LLC will send the XRP to the destination address provided.

- The destination address submitted for each transaction can not be altered once submitted. We vehemently caution users to secure their destination address information for each transaction.

Destination address changes:

- When users change their destination address they are emailed a verification code. This verification code must be provided to validate the change.

- The updated destination address will not be valid for previously submitted transactions to Escrow prior to the destination address change. Email tech@secureblockchains.com for more information.

Generated Reservoir wallet: The Reservoir wallet is a generated wallet Reservoir provides upon sign up.

- The purpose of the Reservoir wallet is to be a gateway between your destination address and Escrow.

- We do not advise permanent or long term storage of large amounts of XRP in the generated digital currency wallet Reservoir provides.

- Users must have a Base Reserve of 20 XRP plus an Owner Reserve of 5 additional XRP per escrow in their Reservoir wallet for activated service.

- If users attempt sending an amount of XRP, leaving the Reservoir wallet with less than the Base Reserve of 20 XRP and an Owner Reserve of 5 additional XRP per escrow, the transaction will fail and the 3% transaction fee still applies. Secure Block Chains, LLC is not obligated to refund this fee in the event the user does not hold the Base Reserve of 20 XRP and an Owner Reserve of 5 additional XRP per escrow in their Reservoir wallet. Email tech@secureblockchains.com for assistance.

1. Account Information

1.0 To use Secure Block Chains, LLC’s services, the user must first create an account.

1.1 Eligibility. To create an account, the user must be legally capable of entering into the Customer Agreement.

1.2 Registration. In order to use the Reservoir Service, the user must first register by providing their email address, password, destination address and affirming their acceptance of this Agreement. An authenticated email address is required to access certain features. The user agrees that all information that the user submits to Reservoir Service shall be accurate and authentic.The user agrees to be held responsible for any losses the user incurs in connection with the user's use of the Reservoir application. Secure Block Chains is not liable for any losses.

1.2a Reservoir users are solely responsible for preserving the confidentiality of the information held on their account including their Reservoir username, password, Reservoir wallet, destinations address, and for any and all activity that occurs under the user’s account.

1.2b Reservoir users agree to notify Secure Block Chains by emailing contact@secureblockchains.com immediately of any unauthorized use of their account or password. Reservoir users will be held accountable for their losses due to another party using their account.

1.2c Reservoir users are not permitted to use anyone else’s Reservoir username, password, Reservoir wallet address, destinations address or account at any time without expressed permission and consent of the holder of that Reservoir username, password, Reservoir wallet address, destination address or account.

2. Supplementary Information

2.1 Escrow. “Escrow is a feature of the XRP Ledger that allows you to send conditional XRP payments. These conditional payments, called escrows, set aside XRP and deliver it later when certain conditions are met (ripple, 2017).”

2.2 Transaction cost. “The current minimum transaction cost required by the network for a standard transaction is 0.00001 XRP(10 drops). It sometimes increases due to higher than usual load (ripple, 2017).”

2.2a “The transaction cost is not paid to any party: the XRP is irrevocably destroyed. Since no new XRP can ever be created, this makes XRP more scarce and benefits all holders of XRP by making XRP more valuable (ripple, 2017).”

2.2b The transaction cost depends on the load of the ripple node thus there is no way for Reservoir to predict the transaction cost. Users my contact us by emailing tech@secureblockchains.com for further questions regarding the transaction cost.

2.3 Base Reserve.”The Base Reserve is a minimum amount of XRP that is required for every address in the ledger. Currently, this is 20 XRP (20000000 drops) (ripple, 2017).”

2.4 Owner Reserve. “The Owner Reserve is an increase to the reserve requirement for each object that the address owns in the ledger. Currently, this is 5 XRP (5000000 drops) per item (ripple, 2017).”

2.4a “Many objects in the ledger are owned by a particular address, and count toward the reserve requirement of that address. When objects are removed from the ledger, they no longer count against their owner's reserve requirement (ripple, 2017).”

3. Reservoir Services

3.1 General services. All Reservoir accounts include the following: One generated digital currency wallet that allows users to store XRP and transfer XRP to Escrow, a record of Escrow transactions, and a display of the total amount of XRP sent into Escrow by our users.

3.2 XRP transaction services. Reservoir only supports the digital currency, XRP, for transactions. The user agrees to never use any Reservoir service in connection with any transaction involving a digital currency that Reservoir Services does not support.

3.3 Access to Escrow. Escrow allows Reservoir users to send escrows. These escrows set aside and secure the user’s XRP. The user’s XRP is then delivered later once the user’s set date and time conditions are met.

4. Fees and Transactions

4.1 Standard fees. The user’s Reservoir XRP balance will be charged a 3% XRP fee by Secure Block Chains, LLC to process a XRP transaction on their behalf, in addition to the transaction cost charged by the XRP Ledger.

4.2 Submitting escrows. Provided the user has a Base Reserve of 20 XRP and an Owner Reserve of 5 additional XRP per escrow in their Reservoir generated wallet and a valid destination address, additionally, Reservoir requires a minimum of 1 XRP, and a minimum 5 minute maturity time in order to successfully submit their escrows.

4.2a Users should verify all transaction information prior to submitting their XRP to Escrow. In the event the user initiates a transaction to Escrow, the user is responsible for invalid transaction information entered. The 3% XRP transaction fee still applies, Secure Block Chains, LLC is not obligated to refund this fee. Email tech@secureblockchains.com for further questions.

4.3 Releasing escrows. In order for the user to receive their XRP in their destination address they must select ‘release escrow’ and enter their verification code. This verification code will be sent to the user’s email. Completing the release transaction is already covered by the 3% XRP fee.

Intellectual Property Rights

Unless otherwise indicated this Site is Secure Block Chain’s proprietary property and all source code, databases, functionality are owned or controlled by Secure Block Chains. The text, ‘Secure Block Chains’ has been trademarked and is protected by trademark laws and various other intellectual property rights and unfair competition laws of the United States. The content and the marks are provided on the Site and mobile applications for your information and personal use only. Except as expressly provided in these terms of use, no part of the Site and no content or marks may be copied, reproduced, transmitted, distributed sold, licensed, or otherwise exploited for any commercial purpose whatsoever without the express prior written permission of Secure Block Chains.

Prohibited Activities

Reservoir’s purpose is to allow you to store XRP in Escrow. Users of Reservoir may not access or use the Site for any purpose other than that for which we make the Site available.

  • 1. Using our sites and mobile applications for any illegal or unauthorized purpose
  • 2. Using our site to violate any applicable law or regulation
  • 3. Make any unauthorized use of the Site, including collecting usernames and/or email address of users by electronic or other means for the purpose of sending unsolicited email, or creating user accounts by automated means or under false pretenses.
  • 4. Use the Site to advertise or offer to sell goods and services.
  • 5. Circumvent, disable or otherwise interfere with security-related features of the Site.
  • 6. Trick, defraud, or mislead us and other users, especially in any attempt to learn sensitive account information such as user passwords.
  • 7. Make improper use of our support services or submit false reports of abuse or misconduct.
  • 8. Engage in any automated use of any data mining, robots, or similar data gathering and extraction tools.
  • 9. Interfere with, disrupt, or create an undue burden on the Site or the networks, or services connected to the Site.
  • 10. Use any information obtained from the Site in order to harass, abuse, or harm another person.
  • 11. Decipher, decompile, disassemble, or reverse engineer any of the software comprising or in any way making up a part of the Site.
  • 12. Attempt to bypass any measures of the Site designed to prevent or restrict access to the Site, or any portion of the Site.
  • 13. Harass, intimidate, or even threaten any of our employees or agents engaged in providing any portion of the Site to you.
  • 14. Copy or adapt the Site’s software, including but not limited to CSS, HTML, JavaScript, or any other code or static resources.
  • 15. Upload or transmit(or attempt to upload or transmit) viruses, Trojan horses, or other material, including excessive use of capital letters and spamming, that interferes with any party’s uninterrupted use and enjoyment of the Site or modifies, impairs, disrupts, alters, or interferes with the use, features, functions, operation, or maintenance of the Site.
  • 16. Upload or transmit (or attempt to upload or transmit) any material that acts as a passive or active information collection or transmission mechanism, including without limitation, clear graphics interchange formats (“gifs”), 1x1 pixels, web bugs, cookies ,or other similar devices (sometimes referred to as “spyware” or “passive collection mechanisms” or “pcms”).
  • 17. Except as may be the result of standard search engine or internet browser usage, use launch, develop, or distribute any automated system, including without limitation any spider, robot, cheat, utility, scraper, or offline reader that accesses the Site, or using or launching any unauthorized script or other software.
  • 18. Disparage, tarnish, or otherwise harm, in our opinion, us and/or the Site.

Mobile Application License

If you access the Site via a mobile application, then we grant you a limited right to install and use the mobile application on wireless electronic devices owned or controlled by you, and to access and use the mobile application on such devices strictly in accordance with the terms and conditions of the mobile application license contained in this terms and agreement.

Apple and Android Devices

The following terms apply when you use a mobile application obtained from either the Apple Store or Google Play to access the Site. The license granted to you for our mobile application is limited to a non-transferable license to use the application on a device that utilizes the Apple iOS or Android operating systems, as applicable, and in accordance with the usage rules set forth in the applicable App Distributor's terms of service. We are responsible for providing any maintenance support services with respect to the mobile application as specified in the terms and conditions of this mobile application license contained in these terms of use or as otherwise required under applicable law, and acknowledge that each App Distributer has no obligation whatsoever to furnish any maintenance and support services with respect to the mobile application. You represent and warrant that you are not located in a country that is subject to a U.S. government embargo, or that has been designated by the U.S government as a “terrorist supporting” country and you are not listed on any U.S. government list of prohibited or restricted parties; you must comply with applicable third-party terms of agreement when using the mobile application, e.g. if you have a VoIP application, then you must not be in violation of their wireless data service agreement when using the mobile application and you acknowledge and agree that the App Distributors are third-party beneficiaries of the terms and conditions in this mobile applications license contained in these terms of use. And that each App Distributer will have the right to enforce the terms and conditions in the mobile application license contained in these terms of use against you as a third-party beneficiary thereof.

Site Management

Secure Block Chains reserve the right, but not the obligation to:

  • - monitor the Site for violations of these Terms of Use
  • - take appropriate legal action against anyone who, in our sole discretion, violates the law or these terms of use,including without limitation, reporting such user to law enforcement authorities,
  • - in our sole discretion and without limitation, notice, or liability, to remove from the Site or otherwise disable files and content that are excessive in size or are in any way burdensome on our systems and otherwise manage the Site in a manner designed to protect our rights and property and to facilitate the proper functioning Site.

Modifications and Interruptions

We reserve the right to change, modify, or remove the contents of the Site at anytime or for any reason at our sole discretion without notice. However, we have no obligation to update any information on our Site. We also reserve the right to modify or discontinue all or part of the Site without notice at any time. We will not be liable to you or any third party for any modification, suspension or discontinuance of the Site.

We can not guarantee the Site will be available at all times. We may experience hardware, software, or other problems or need to perform maintenance related to the Site, resulting in interruptions, delays or errors. We reserve the right to change, revise, update, suspend, discontinue, or otherwise modify the Site at any time or any reason without notice to you. You agree that we have no liability whatsoever for any loss, damage, or inconvenience caused by your inability to access or use the Site during any downtime or discontinuance of the Site. Nothing in these terms of Use will be construed to obligate us to maintain and support the Site or supply any corrections, updates or releases in connection therewith.

Privacy Policy

We care about the data privacy and security. By using the Site, you agree to be bound by our privacy policy posted on the site, which is incorporated into these Terms of Use. Please be advised the Site is hosted in the United States. If you access the Site from the European Union, Asia, or any other region of the world with laws or requirements governing personal data collection, use, or disclosure that differ from applicable laws in the United States, then through your continued use of the Site, you are transferring your data to the United States, and expressly consent to have your data transferred to and processed in the United States. Further, we do not knowingly accept, request, or solicit information from children or knowingly market to children. Therefore, in accordance with the U.S. Children’s Online Privacy Protection Act, if we receive information to us without the requisite and verifiable parental consent, we will delete that information from the Site as quickly as is reasonably practical.

Contact

References