The Government Network
GENERAL TERMS AND CONDITIONS
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THE GOVERNMENT NETWORK TOKEN SALE
PLEASE READ CAREFULLY THESE GENERAL TERMS AND CONDITIONS AS THEY AFFECT YOUR OBLIGATIONS AND LEGAL RIGHTS, INCLUDING, BUT NOT LIMITED TO WAIVERS OF RIGHTS AND LIMITATION OF LIABILITY.
NOTE THAT SECTION 35 CONTAINS A CLASS ACTION WAIVER AND SECTION 37 CONTAINS AN ARBITRATION CLAUSE, WHICH, IF APPLICABLE TO YOU, AFFECT YOUR LEGAL RIGHTS.
IF YOU DO NOT AGREE WITH THESE GENERAL TERMS AND CONDITIONS, YOU MUST NOT ACCESS OR USE THE WEBSITE available in the Internet via the https://thegovernment.network/ OR BUY GOV Tokens.
These General Terms & Conditions (hereinafter referred to as the “Terms”), including any and all Additional Documents, constitute a legally binding agreement between The Government Network - Waferville Technologies Limited, an International Business Company duly organized, validly existing and in good standing under the laws of Belize, with the registration number 171,667 and incorporated address, New Horizon Building, Ground Floor, 3½ Miles Philip S.W. Goldson Highway, Belize City, Belize (“Company,” “The Government Network”, “we,” “us”, “The Government Network Company”) and the owner of the website, available on the Internet via https://thegovernment.network/ and any and all Participants (“You”) as defined herein in Definitions Section.
By the fact of the Website use and/or GOV Tokens purchase the respective Participant, agrees that he/she fully read, understood and irrevocably accepted these Terms. If any Participant does not agree with these Terms in general or any part of them, such Participant should withhold from using the Website https://thegovernment.network/ and/or purchase of GOV Tokens.
Unless otherwise stated herein, these Terms govern only Participant’s purchase of Tokens from us during the Sale Period. Any use of Tokens in connection with providing or receiving Services in the Platform will be governed primarily by other applicable Terms and policies.
In the Terms, unless the opposite is clear from the context:
- Unless the context otherwise requires, words in the singular shall include the plural and in the plural shall include the singular;
- Unless the context otherwise requires, a reference to one gender shall include a reference to the other genders.
- References to clauses and schedules are to the clauses and schedules of these Terms and references to paragraphs are to paragraphs of the relevant schedule;
- A reference to any party shall include that party’s personal representatives, successors and permitted assigns.
- All references to a person include firms, companies, government entities, trusts and partnerships or other or unincorporated body (whether or not having separate legal personality);
- The term 'including' does not exclude anything not listed;
- A reference to a statute or statutory provision is a reference to it as amended, extended or re-enacted from time to time;
- A reference to a statute or statutory provision shall include all subordinate legislation made from time to time under that statute or statutory provision.
- A reference to writing or written includes fax and e-mail.
- Any obligation on a party not to do something includes an obligation not to allow that thing to be done.
- Any words following the Terms including, include, in particular, for example or any similar expression shall be construed as illustrative and shall not limit the sense of the words, description, definition, phrase or term preceding or following those Terms.
- Headings of sections are for convenience only and shall not be used to limit or construe such sections. All the sections in the agreement shall survive any termination or expiration of these Terms.
- This Agreement is intended to fully reflect the Terms of the original agreement between the parties. No provision of the Agreement shall be considered waived unless such waiver is accepted by the party that benefits from the enforcement of such provision, by action of a click in a specific checkbox with the text “I agree”, which shall be published on the Website in such case. No waiver of any provision in the Agreement, however, will be deemed a waiver of a subsequent breach of such provision or a waiver of a similar provision. In addition, a waiver of any breach or a failure to enforce any term or condition of the Agreement will not in any way affect, limit, or waive a Party’s rights hereunder at any time to enforce strict compliance thereafter with every term and condition hereof.
- If any term, provision, covenant or restriction of this Agreement is held by a court of competent jurisdiction to be invalid, illegal, void or unenforceable, the remainder of the Terms, provisions, covenants and restrictions set forth herein shall remain in full force and effect and shall in no way be affected, impaired or invalidated, and the parties hereto shall use their commercially reasonable efforts to find and employ an alternative means to achieve the same or substantially the same result as that contemplated by such term, provision, covenant or restriction. It is hereby stipulated and declared to be the intention of the parties that they would have executed the remaining Terms, provisions, covenants and restrictions without including any of such that may be hereafter declared invalid, illegal, void or unenforceable.
- UNITED STATES OF AMERICA (hereinafter referred to as the – “US”) and Belize RESIDENTS WARNING NOTE: US, and Belize citizens and residents of a geographic area in which access to or use of the GOV token, cryptocurrency or Tokens is prohibited by applicable law, decree, regulation, treaty, or administrative act are not eligible and not allowed to participate in the GOV Tokens Sale due to various taxation and regulatory issues. You are only allowed to use the Website and purchase GOV Tokens if You are neither a US or Belize citizen or permanent resident of the mentioned states, nor You have a primary residence or domicile in the US (including Puerto Rico, the US Virgin Islands, and any other possessions of the US) or Belize. In order to buy GOV Tokens and by buying them You covenant, represent, and warrant that none of the owners of the company, of which You are an authorized officer, are US or Belize citizen or permanent resident, nor You have a primary residence or domicile in the United States (including Puerto Rico, the US Virgin Islands, and any other possessions of the US) or Belize. Should this change at any time, You shall immediately notify us. You also represent and warrant that You are not a citizen or resident of a geographic area in which access to or use of the cryptocurrency or Tokens is prohibited by applicable law, decree, regulation, treaty, or administrative act. We shall reserve the right to refuse selling GOV Tokens to anyone who does not meet the criteria set forth above.
By using this Website each Participant covenants, represents, and
warrants that (under the Applicable Law and law of the country of
- he (she) is of an age of majority to enter into this Agreement (at least 18 years of age), meets all other eligibility and residency requirements, and is fully able and legally competent to use the Website, enter into agreement with The Government Network Company and in doing so will not violate any other agreement to which he (she) is a party;
- he (she) has necessary and relevant experience and knowledge to deal with cryptographic Tokens, cryptocurrencies and Blockchain-based systems, as well as full understanding of their framework, and is aware of all the merits, risks (including but not limited to the risks described in Appendix B) and any restrictions associated with cryptographic Tokens (their purchase and use), cryptocurrencies and Blockchain-based systems, as well as knows how to manage them, and is solely responsible for any evaluations based on such knowledge;
- if he (she) is a corporation, governmental organization or other legal entity, You have the right, power and authority to enter into this agreement on behalf of the corporation, governmental organization or other legal entity and bind them to these Terms;
- he (she) will not be using the Website for any illegal activity, including but not limited to money laundering and the financing of terrorism;
- he (she) is not a resident of a geographic area or citizen of jurisdictions as specified in paragraph 5 hereof.
- A Participant shall not use the Website if under the Applicable Law and/or law of the country of Participant’s residence he (she) is prohibited from using it. Any Tokens Sale Participant that is in any manner limited or prohibited from the purchase, possession, transfer, use or other transaction involving any amount of GOV Tokens under the mentioned law should not access this Website and is prohibited accessing, referencing, engaging, or otherwise using this Website.
- These Terms are effective at the time You begin using the Website. Participants may withdraw from their obligation under the Terms at any time by discontinuing the use of the Website.
- The Participant acknowledges and accepts that these Terms are subject to change, modifications, amendments, alterations or supplements at any time without prior written notice, at The Government Network’s sole discretion. Your continued use of the Website after any amendments or alterations of these Terms and/or the Website shall constitute Your consent hereto and acceptance hereof. At any case, the date of the most recent amendments and alterations will be indicated at the top of these Terms.
- The Participant acknowledges and accepts that The Government Network reserves the right, at its own and complete discretion and at any time to modify or to temporarily or permanently suspend or eliminate the Website, and/or disable any access to the Website for any reason. The pages of the Website may contain links to third-party websites and services. Such links are provided for Your convenience, but their presence does not mean that they are recommended by The Government Network. The Government Network does not guarantee their safety and conformity with any of Your expectations. Furthermore, The Government Network is not responsible for maintaining any materials referenced from another site, and make no warranties for that site or respective service. The Government Network assumes no obligations in the event of any damage or loss, or any other impact, directly or indirectly resulting from the use of any content, goods or services available on or through any such third-party websites and resources.
- To the extent allowable pursuant to Applicable Law, the Participant shall indemnify, defend, and hold The Government Network and/or its subsidiaries, affiliates, directors, officers, employees, agents, successors, and permitted assignees harmless from and against any and all claims, damages, losses, suits, actions, demands, proceedings, expenses, and/or liabilities (including but not limited to reasonable attorneys’ fees incurred and/or those necessary to successfully establish the right to indemnification) filed/incurred by any third party against the The Government Network arising out of a breach of any warranty, representation, or obligation hereunder.
- The Participant shall not have any claim of any nature whatsoever against The Government Network for any failure by The Government Network to carry out any of its obligations under these Terms as a result of causes beyond its control, including but not limited to acts of God, epidemic, pandemic, civil unrest, fire, flood, droughts, storms, earthquakes, collapse of buildings, explosion or accident, acts of terrorism, acts of war, governmental action, any law or any action taken by a government or public authority or any other event that is beyond the absolute and direct control of The Government Network.
LIMITATION OF LIABILITY
- Any and all purchases of GOV Tokens are final and non-refundable. By purchasing the GOV Tokens, the Participant acknowledges that neither The Government Network nor any other of its affiliates are required to provide a refund for any reason, and that the Participant will not receive money or other compensation for any GOV Tokens that is not used or remains unused for any reason.
TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW:
- IN NO EVENT WILL THE GOVERNMENT NETWORK OR ANY OF THE COMPANY PARTIES BE LIABLE FOR ANY INDIRECT, SPECIAL, INCIDENTAL, CONSEQUENTIAL, OR EXEMPLARY DAMAGES OF ANY KIND (INCLUDING, BUT NOT LIMITED TO, WHERE RELATED TO LOSS OF REVENUE, INCOME OR PROFITS, LOSS OF USE OR DATA, OR DAMAGES FOR BUSINESS INTERRUPTION) ARISING OUT OF OR IN ANY WAY RELATED TO THE SALE OR USE OF THE TOKENS OR OTHERWISE RELATED TO THESE TERMS, REGARDLESS OF THE FORM OF ACTION, WHETHER BASED IN CONTRACT, TORT (INCLUDING, BUT NOT LIMITED TO, SIMPLE NEGLIGENCE, WHETHER ACTIVE, PASSIVE OR IMPUTED), OR ANY OTHER LEGAL OR EQUITABLE THEORY (EVEN IF THE PARTICIPANT HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES AND REGARDLESS OF WHETHER SUCH DAMAGES WERE FORESEEABLE); AND
- IN NO EVENT WILL THE COMPANY AND THE COMPANY PARTIES (JOINTLY) AGGREGATE LIABILITY, WHETHER IN CONTRACT, WARRANTY, TORT (INCLUDING NEGLIGENCE, WHETHER ACTIVE, PASSIVE OR IMPUTED), OR OTHER THEORY, ARISING OUT OF OR RELATING TO THESE TERMS OR THE USE OF OR INABILITY TO USE THE TOKENS, EXCEED THE AMOUNT YOU PAY TO US FOR THE TOKENS.
Nevertheless, the Parties shall be responsible for compliance with The
Government Network General Terms and conditions of Token sale and
Accompanying Documents, for fulfilment of the Participant’s commitments
and guarantees in the manner and in the amount prescribed by The
Government Network General Terms and conditions of Token sale and
Accompanying Documents, in particular:
- In case of filing accusations, claims or lawsuits to the The Government Network related to non- compliance by the Participant of the GOV Tokens Sale Agreement and/or engagements entered by the Participant during the participation of the Token Sale, the Participant agrees to settle such claims or actions on his own and at his own expense, as well as fully compensate The Government Network documented proven losses, court fees, legal costs, incurred in connection with the refusal of the Participant or untimely fulfilment of his obligations by the Participant.
- In case of filing accusations, claims or lawsuits against The Government Network, related to non- compliance by the Participant with exclusive rights or other rights of third parties, the Participant agrees to settle such claims or actions on his own and at his own expense, as well as fully compensate The Government Network documented proven losses, court fees, legal costs, incurred in connection with the refusal of the Participant or untimely fulfilment of his obligations by the Participant.
In case of the Participants’ violation of his obligations of The
Government Network General Terms and conditions of Token sale and
Accompanying Documents, The Government Network reserves the right
- demand full compensation from the Participant for losses caused by every violation;
- bring a case before a court if the compensation doesn't cover The Government Network’s loss;
- release the information relating to the Participant’s identity and location to any authorized officer in accordance with the applicable law.
- If Applicable Law does not allow all or any part of the above limitation of liability to apply to the Participant, the limitations will apply to the Participant only to the extent permitted by Applicable Law. The Participant understand and agree that it is his (or her) obligation to ensure compliance with any legislation relevant to his (or her) country of domicile concerning use of the Website, and that the Participant should not accept any liability for any illegal or unauthorized use of the Website.
- The Participant agree to be solely responsible for any applicable taxes imposed on GOV Tokens purchased hereunder. The Participant shall pay any applicable taxes, including sales, use, personal property, value-added, excise, customs fees, import duties or stamp duties or other taxes and duties imposed by governmental agencies of whatever kind and imposed with respect to the transactions under The Government Network Token Sale.
REPRESENTATIONS AND WARRANTIES
- TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW AND EXCEPT AS OTHERWISE SPECIFIED IN A WRITING BY THE GOVERNMENT NETWORK, GOV TOKENS ARE SOLD ON AN “AS IS” AND “AS AVAILABLE” BASIS WITHOUT WARRANTIES OF ANY KIND, AND THE GOVERNMENT NETWORK EXPRESSLY DISCLAIM ALL IMPLIED WARRANTIES AS TO THE TOKENS, INCLUDING, WITHOUT LIMITATION, IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, TITLE AND NON-INFRINGEMENT; THE GOVERNMENT NETWORK DOES NOT REPRESENT OR WARRANT THAT THE TOKENS ARE RELIABLE, CURRENT OR ERROR-FREE, MEET YOUR REQUIREMENTS, OR THAT DEFECTS IN THE TOKENS WILL BE CORRECTED; AND THE GOVERNMENT NETWORK CANNOT AND DOES NOT REPRESENT OR WARRANT THAT THE TOKENS OR THE DELIVERY MECHANISM FOR TOKENS ARE FREE OF VIRUSES OR OTHER HARMFUL COMPONENTS.
By purchasing the GOV Tokens the Participant represent and warrant that
he has read and understands the GOV Tokens Sale General Terms and
Conditions and Token sale agreement and all Accompanying Documents in
full and he fully agree with the information about the functionality of
Token described in appendix A, usage, storage, transmission mechanisms
and other material characteristics of the GOV Tokens, blockchain
technology, blockchain-based software systems and their risks, and
appreciates the risks and implications of purchasing the GOV Tokens.
- GOV Tokens confer only the right to swap GOV Tokens for NTN tokens, under conditions as described in the White Paper. The GOV tokens confer no other rights of any form with respect to the Company or its corporate affiliates, including, but not limited to, any voting, distribution, redemption, liquidation, proprietary (including all forms of intellectual property), or other financial or legal rights. You are purchasing GOV Tokens to get the right to swap 1 of GOV Token for 100 NTN tokens, under the conditions as described in the White Paper and Appendix A, and to support The Government Network development, testing, deployment and operation of the Government Network project as described in the White Paper. You are not purchasing GOV Tokens for any other uses or purposes, including, but not limited to, any investment, speculative or other financial purposes.
- The Participant fully understands, realizes and agrees that the GOV Tokens are created on a blockchain and are designed to be used in the manner described in Accompanying Documents Participant agree to accept consequences of possible regulation of GOV Tokens in jurisdiction of the Company incorporation and agree to provide all documents requested from The Government Network in case of such regulation in order to comply with all requirements demanded from governmental bodies of jurisdiction of Company incorporation.
- The Government Network does not warrant or represent that any information on the Website is accurate or reliable or that the Website will be free of errors or viruses, that defects will be corrected, or that the service or the server that makes it available is free of viruses or other harmful components. The Government Network shall not be liable for uninterrupted availability of the Website at all times, in all countries and/or all geographic locations, or at any given time.
- The Participant will not forge, or otherwise manipulate any personal or non-personal data requested by The Government Network in the process of the Participant’s registration (will not use the VPN or other means of distorting the data), or after its completion, will provide all necessary personal or non-personal data in the form and format requested by The Government Network in the event when such necessity arises in connection within the requirements of anti-money laundering and "Know Your Customer" (KYC) frameworks of The Government Network or in accordance with the applicable law.
- The Participant’s purchase of the GOV Tokens complies with applicable laws and regulations in the Participant’s jurisdiction;
- The Participant do not intend to hinder, delay or defraud The Government Network or any other Participants of the The Government Network Project or engage in any illegal conduct and or unlawful activity in relation to money laundering, receiving the proceeds of drug trafficking or terrorist activities; receiving the proceeds of criminal activities, terrorist activities or trading with such countries as might from time to time be subject to any embargo imposed by the Security Council of the United Nations, the European Union or in any place of the world.
- Some jurisdictions do not allow the exclusion of certain warranties or disclaimer of implied Terms in contracts with consumers, so some or all of the exclusions of warranties and disclaimers in this section may not apply to You.
- The Government Network has valid, unrestricted and exclusive ownership of rights to use the patents, trademarks, trademark registrations, trade names, copyrights, know-how, technology and other intellectual property necessary to the conduct of selling of the GOV Tokens and its activities generally. In no way shall these Terms entitle any Participant for any intellectual property of The Government Network, including the intellectual property rights for the Website and all text, graphics, Participant interface, visual interface, photographs, trademarks, logos, artwork, and computer code, design, structure, selection, coordination, expression and other content connected to the Website. Arrangement of such content is owned by The Government Network and is protected by national and international intellectual property rights protection laws.
- Unless otherwise stated, the content and information on the Website are the property of The Government Network. You may not download, reproduce, or retransmit any information, other than for non-commercial individual use. The Website is to be used by the Participants only. You are granted a limited, non-transferable, revocable license to view and copy the information solely for personal use only, subject to clause 29 of this Agreement.
- All intellectual property rights comprised in the information, text, graphics, logos, images, audio clips, data compilations, scripts, software, technology, sound or any other materials or works found on the Website shall vest in and remain property of The Government Network. You are permitted to download and print such materials from the Website for personal and non-commercial use provided that You do not breach these Terms and conditions.
- The Government Network retains all intellectual property rights, mostly, but not limited, to copyright, over the source code forming GOV Tokens and the Government Network Project.
- There are no implied licenses under the Agreement, and any rights not expressly granted to the Participant hereunder are reserved by The Government Network.
- If for the purpose of any intellectual property right registration of The Government Network, any documentary submission or any other action is required from the Participant, the Participant must provide The Government Network with the respective assistance.
APPLICABLE LAW AND DISPUTE RESOLUTION
- All questions concerning the construction, validity, enforcement and interpretation of this Agreement shall be governed by and construed and enforced in accordance with the laws of Belize (Applicable Law).
- Any Dispute arising out of or related to these Terms is personal to You and The Government Network and will be resolved solely through individual arbitration and will not be brought as a class arbitration, class action or any other type of representative proceeding. There will be no class arbitration or arbitration in which an individual attempts to resolve a Dispute as a representative of another individual or group of individuals. Furthermore, a Dispute cannot be brought as a class or other type of representative action, whether within or outside of arbitration, or on behalf of any other individual or group of individuals.
- If any dispute, controversy or claim arises out of or in connection with these Terms, including any question regarding its existence, validity, interpretation, breach or termination, the Parties agree first to negotiate the issue in good faith for a period of not less than sixty (60) days following written notification of such controversy or claim to the other Party.
If the negotiations do not resolve the dispute, controversy or claim to
the reasonable satisfaction of all Parties during such period, then the
Parties irrevocably and unconditionally submit to the respective claim
to the binding arbitration administered by Arbitration he Rules of the
LCIA, which Rules are deemed to be incorporated by reference into this
clause. The number of arbitrators shall be one. The seat, or legal
place, of arbitration shall be in London. The language to be used in
the arbitral proceedings shall be English. In accordance with its
rules, and judgment upon the award rendered by the arbitrator (which is
the referral of a dispute to one person charged with reviewing the
dispute and making a final and binding determination to resolve it
instead of having the dispute decided by a judge or jury in court) may
be entered in any court having jurisdiction thereof. Except for any
disputes, claims, suits, actions, causes of action, demands or
proceedings in which either Party seeks injunctive or other equitable
relief for the alleged unlawful use of intellectual property,
including, without limitation, copyrights, trademarks, trade names,
logos, trade secrets or patents, the Participant and The Government
- waive Your and The Government Network’s respective rights to have any and all disputes arising from or related to these Terms resolved in a court, and
- waive Your and The Government Network’s respective rights to a jury trial. The substantive law shall be the Applicable Law (including all other operating rules, policies, and procedures that may be issued by The Government Network and published from time to time on the Website), without regard to conflict of law rules or principles (whether of the Republic of Singapore or any other jurisdiction). The language of the arbitration shall be English.
TERMINATION AND SUSPENSION
- Notwithstanding anything contained herein, The Government Network reserves the right, without notice and at its sole discretion, to terminate these Terms or suspend the Participants right to access the Website, including (but not limited to) in case of Participant’s breach of these Terms or if the The Government Network believes You have committed fraud, negligence or other misconduct. The Participant may terminate these Terms without notice by discontinuing use of the Website. All rights granted to the Participant under these Terms will immediately be revoked upon our termination of these Terms or The Government Network suspension of the Your access to the Website. In the event of any Force Majeure Event (as defined in clause 13), breach of this agreement, or any other event that would make provision of services commercially unreasonable for The Government Network, the Company may, in its own discretion and without liability to the Participant, with or without prior notice, suspend the Participant’s access to all or a part of The Government Network’s Platform. The Government Network may terminate the Participant’s access to the Website in its sole discretion, immediately and without prior notice, and delete all related information and files related to such participant without liability to You, including, for instance, in the event that the Participant breach any term of these Terms. In the event of termination, The Government Network will attempt to return any funds stored in Your smart contract number not otherwise owed to The Government Network, unless The Government Network believes the Participant has committed fraud, negligence or other misconduct.
- Any notice or other communication under The Government Network Token Sale Agreement shall be in writing and shall be considered given and received when sent by email. The Participant’s official email for communication shall be deemed the email specified by the Participant during the Application for the Crowdsale. The one and only language of the communication shall be English.
- The Government Network and its Affiliates strictly follow anti-money laundering (AML), “know Your customer” (KYC). Each and any Participant fully agrees to assist The Government Network in fulfilment of its KYC/AML check and of the mentioned regulations and provide any necessary information if such is required from the Participant by the authorized authority. The KYC/ AML check will be outsourced by the Government Network.
- Materials, such as The Government Network White Paper, Business Plan, Development Road Map and others, published in the Website or elsewhere, are not binding and do not – unless explicitly referred to herein – form part of these Terms, and are of descriptive nature only.
The Participant will implement reasonable and appropriate measures
designed to secure access to:
- any device associated with the email address associated with the Platform;
- private keys required to access any relevant Ethereum address, and;
- In case the Participant suspect a security breach in any of the abovementioned, he will inform The Government Network immediately so The Government Network can take all required and possible measures to secure the Website, the Platform, GOV Tokens and systems as whole.
OVERVIEW OF TOKENS
- GOV Tokens are based on the Ethereum protocol and conform to the widely used ERC20 standard.
- The GOV Tokens smart contract address will be indicated on the invoice once the Participant has agreed to his “Purchase amount”.
- GOV Tokens carry no rights, expressed or implied, other than those, set out herein, subject to The Government Network successful completion and deployment of the project. In particular, GOV Tokens holders shall not have any influence in the development or management of The Government Network, and GOV Tokens do not represent or constitute any ownership right or stake, share or security or equivalent rights or any right to receive future revenue shares, or any other form of participation in or relating to The Government Network.
- GOV Tokens are designed to be exchangeable on cryptographic token exchanges. The Government Network gives no warranties that GOV Tokens will be exchangeable on bigger exchanges, but undertakes its best effort to do everything reasonably possible and within the powers of The Government Network to enable exchange of GOV Tokens on as many exchanges as possible.
- GOV Tokens shall be distributed within 30 days of the end of the Token Sale event (Sale Period).
The GOV Tokens Sale shall be held during 12.09.2018 - 30.11.2018 and
regulated by this agreement and the GOV Token Sale Agreement.
- The token sale has the following stages:
12 September (10:00 AM GMT) – 30 September 2018 (10:00 PM GMT)
1 October (10:00 AM GMT) – 31 October 2018 (10:00 PM GMT)
1 November (10:00 AM GMT) – 30 November 2018 (10:00 PM GMT)
- Participants understand and accept that the they can send ETH and/or BTC into a smart contract system on Ethereum and receive GOV Tokens in exchange. There will be in total 125.000.000 GOV Tokens available (“Total GOV Tokens Number”). The Government Network shall not create additional GOV Tokens at any time after the initial token release.
- 70% of the Total GOV Tokens Number shall be available for distribution during GOV Tokens Sale;
- Referral Grants (RGs) as described in the Matrix below will be distributed 30 days after the GOV Token Crowdsale closure. If the cumulative sum of all referral grants exceeds the 3% of total token supply made available for RGs, the organizers of the Government Network can choose to extent the token allocation for RGs, these tokens will be taken from the total supply of GOV token available during the crowdsale.
- The minimum amount to be raised for the Government Network project is $ 3 million, in this scenario, the funds will be shared between a second crowdfunding campaign and product development. If the total amount raised is lower than $ 3 million, the Government Network project can still continue development and campaigning if deemed viable by the Government Network. The participants to the GOV token Sale expressively give permission to the Government Network to use all funds raised, irrelevant of the total amount of funds raised, to attempt the development of the Government Network project as described in the white paper.
- The token distribution can be subject to change depending on the operational needs of the Government Network project.
- The Government Network is allowed to sell GOV tokens to strategic partners at a lower price than provided in the matrix below if the sale is deemed by the Government Network to benefit the overall project as well as all the GOV token contributors.
- If the funds required to close the transaction with the participant arrive after the deadline as provided by the invoice, the participant is responsible to contact the Government Network by email 72 hours after his payment. The Government Network will return the funds if informed during this timeframe.
- GOV tokens unsold during the Crowdsale will be stored in the “Crowdsale reserve fund”, they will be made available for referral grands and can be used during a future Crowdsale campaign.
The token sale has four packages: Volunteers, Citizens, Ambassadors,
- The following matrix is used to determine the token price and the package of the contributor:
$ 0,320/ GOVT
$ 0,250/ GOVT
$ 0,220/ GOVT
$ 0,180/ GOVT
$ 0,448/ GOVT
$ 0,350/ GOVT
$ 0,308/ GOVT
$ 0,252/ GOVT
$ 0,640/ GOVT
$ 0,500/ GOVT
$ 0,440/ GOVT
$ 0,360/ GOVT
$ 350 ($ 200 during Crowdsale)
$ 2 950
$ 9 000
$ 150 000
$ 2 950
$ 9 000
$ 150 000
$ 500 000 (total stages combined)
2%; Max. 20 000 GOVT
5%; Max. 50 000 GOVT
15%; Max. 500 000 GOVT
20%; Max. 1 000 000 GOVT
- The token price is determined by the package in which the contributor is active.
- The package of the contributor is determined by the amount he or she contributes. When a contributor makes multiple contributions across sale stages, his or her last contribution will take into account the total amount of funds contributed to determine the package of the last transaction. Each transaction will be concluded at the token price equal to the contributors package at the time of the transaction.
- If the participant is a US person, and stated otherwise when making use of our platform. The Government Network will deduct the costs related to the KYC/ AML check from the participant’s contribution, before returning it.
The Government Network reserves the right to an emergency stop
functionality to stop the distribution process. Use of this
functionality shall remain in discretion of The Government Network and
shall only be used in limited situations, such as, but not limited to:
- serious security issue detected;
- serious network performance issue, depriving all users of equal treatment;
- any type of material attack on the GOV Tokens, the Platform, Website or Ethereum network.
- GOV Tokens distribution will only be offered through the Website. No third-party website or a different provider is allowed and has not been in any way supported, engaged, authorized or endorsed by The Government Network and has no relationship in any way with The Government Network. The only official and authorized website and GOV Tokens distribution provider is the Website available in the Internet via https://thegovernment.network/ . The Participant must ensure that the URL of your web browser indicates that it is using a hypertext transport protocol secure connection (“https”) and that the domain name is correct.
- GOV Tokens is not a consumer product and its holders accepts and agree explicitly that they are not covered by the consumer protection regulation of any jurisdiction.
- GOV Tokens are digital cryptographic Tokens, which are software digital products (not being cryptocurrency), created by the The Government Network as a cryptographically secured representation of the right to swap 1 GOV Tokens for 100 NTN tokens, under conditions as described in the White Paper. The swapping process is not instant and depends on the growth of the platform and transactions on as explained in the White Paper.
- GOV Tokens confer only the right to swap GOV Tokens for NTN tokens, under conditions as described in the White Paper. NTN tokens will be used to transact and operate the Government Network platform. The GOV tokens confer no other rights of any form with respect to the Company or its corporate affiliates, including, but not limited to, any voting, distribution, redemption, liquidation, proprietary (including all forms of intellectual property), or other financial or legal rights. You are purchasing GOV Tokens to get the right to swap 1 of GOV Token for 100 NTN tokens, under the conditions as described in the White Paper, and to support The Government Network development, testing, deployment and operation of the Government Network project as described in the White Paper. You are not purchasing GOV Tokens for any other uses or purposes, including, but not limited to, any investment, speculative or other financial purposes.
The Participant understands that GOV Tokens, the Government Network, blockchain technology, Ethereum, Ether and other associated and related technologies are new and untested and outside of The Government Network’s exclusive control and adverse changes in market forces or the technology, broadly construed, may prevent or compromise the Government Network’s performance under this agreement.
Participant agree that no other party (including, without limitation any) may be held liable for any loss arising out of, or in any way connected with Participant’s participation in the GOV Token sale, or receiving and holding Tokens or such risk.
In addition to the above, the Participant also acknowledge that prior to receiving Tokens he has been warned of the following risks, associated with the Website, The Government Network Tokens, the Platform and other relevant technologies mentioned herein:
- Legal risks regarding securities regulations
There is a risk that in some jurisdictions the GOV Tokens might be considered to be a security, or that it might be considered to be a security in the future. The Government Network does not give warranties or guarantees that GOV Tokens are not a security in all jurisdictions. Each holder of GOV Tokens shall bear its own legal or financial consequences of GOV Tokens being considered a security in their respective jurisdiction.
Every Participant is bound to check if acquisition and disposal of GOV Tokens is legal in his jurisdiction, and by accepting these Terms, each Participant agrees not to use GOV Tokens should their use not be legal in the relevant jurisdiction. If a Participant establishes that the use of GOV Tokens under these Terms is not legal in his jurisdiction, You should not use the GOV Tokens, not acquire them and should immediately stop using or possessing them if such case arises.
Acquiring cryptographic Tokens for personal possession and exchanging them for other cryptographic Tokens will most likely continue to be scrutinized by various regulatory bodies around the world, which has so far given mixed reactions and regulatory impact. The legal ability of The Government Network to provide GOV Tokens and the Platform in some jurisdictions may be eliminated by future regulation or legal actions. In the event, it turns out with a high degree certainty that GOV Tokens are not legal in certain jurisdiction, The Government Network will either:
1. cease operations in that jurisdiction, or
2. adjust GOV Tokens and the Platform in a way to comply with the regulation should that be possible and viable.
- Risks associated with Ethereum
GOV are based on Ethereum blockchain. As such, any malfunction, unintended function or unexpected functioning of the Ethereum protocol may cause the GOV Tokens to malfunction or function in an unexpected or unintended manner. Ether, the native unit of account of the Ethereum may itself lose value in ways similar to GOV Tokens, and also other ways. More information about the Ethereum is available at www.ethereum.org.
- Risk of unfavourable regulatory action in one or more jurisdictions
Blockchain technologies have been the subject of scrutiny by various regulatory bodies around the world. The functioning of the Ethereum network and associated blockchain networks and GOV Tokens could be impacted by one or more regulatory inquiries or actions, including but not limited to restrictions on the use or possession of digital Tokens like GOV Tokens, which could impede or limit their existence, permissibility of their use and possession, and their value.
- Risk of theft and hacking
Hackers or other groups or organizations may attempt to interfere with Your Third-party Wallet, the Website or the availability of GOV Tokens and Digital Assets in any number of ways, including without limitation denial of service attacks, Sybil attacks, spoofing, smurfing, malware attacks, or consensus-based attacks. You hereby agree that The Government Network shall have no liability for any such loss the Participant incur.
- Risk of security weaknesses in the Website and/or GOV Tokens source code or any associated software and/or infrastructure
There is a risk that the Website and GOV Tokens may unintentionally include weaknesses or bugs in the source code interfering with the use of or causing the loss of GOV Tokens.
- Risk of weaknesses or exploitable breakthroughs in the field of cryptography
Advances in cryptography, or technical advances such as the development of quantum computers, could present risks to cryptocurrencies, Ethereum, GOV Tokens, the Platform, which could result in the theft or loss of GOV Tokens.
- Risk of mining attacks
As with other decentralized cryptocurrencies, Ethereum blockchain, which is used for the GOV Tokens, is susceptible to mining attacks, including but not limited to double-spend attacks, majority mining power attacks, “selfish-mining” attacks, and race condition attacks. Any successful attacks present a risk to the GOV Tokens, expected proper execution and sequencing of GOV Tokens, and expected proper execution and sequencing of Ethereum contract computations in general. Despite the efforts of The Government Network and Ethereum Foundation, the risk of known or novel mining attacks exists. Mining Attacks, as described above, may also target other blockchain networks, with which the GOV Tokens interact with and consequently the GOV Tokens may be impacted in that way to the extent, described above.
- Risk of low or no liquidity
Even though there are currently online service available, which enable possibility of exchange of cryptographic tokens between themselves, and also, some of them enable exchange of cryptographic tokens for fiat money, there are no warranties and/or guarantees given that GOV Tokens will be listed or made available for exchange for other cryptographic tokens and/or fiat money, and no guarantees are given whatsoever with the capacity (volume) of such potential exchange. It shall be explicitly cautioned, that such exchange, if any, might be subject to poorly understood regulatory oversight, and The Government Network does not give any warranties in regard to any exchange services providers. Participants might be exposed to fraud and failure. In any case, The Government Network will not enable exchange of GOV Tokens for other cryptographic tokens or for fiat currency. Participant may not at any given time be able to acquire or dispose of its GOV Tokens due to lack of liquidity.
- Risk of loss of value
Value of GOV Tokens may fluctuate and their Participants might suffer loss in value of such acquired tokens. There might be different reasons that would cause unfavorable fluctuations of the value of the GOV Tokens.
- Risk of uninsured losses
GOV Tokens are unlike bank accounts or accounts at some other financial institutions and are entirely uninsured.
- Risk of malfunction in the Ethereum network or any other blockchain
It is possible that the Ethereum network or any other network, to which the GOV Tokens are interacting with, malfunctions in an unfavorable way, including but not limited to one that result in the loss of GOV Tokens.
- Internet transmission risks
The Participant acknowledges that there are risks associated with using the GOV Tokens including, but not limited to, the failure of hardware, software, and Internet connections. The Participant acknowledges that The Government Network shall not be responsible for any communication failures, disruptions, errors, distortions or delays You may experience when using the Website and GOV Tokens, howsoever caused.
- Unanticipated risks
Cryptocurrencies and blockchains are new and untested technology. In addition to the risks set forth here, there are risks that The Government Network cannot foresee and it is unreasonable to believe that such risks could have been foreseeable. Risks may further materialize as unanticipated.
- Insufficient interest in The Government Network, the Platform and GOV Tokens
It is possible that The Government Network, GOV Tokens or Platform will not be used by a large number of individuals, businesses and other organizations and that there will be limited public interest in the creation and development of its functionalities. Such a lack of interest could impact the development of the Platform.
- GOV Tokens and the Platform, as developed, may not meet the Participant’s expectations
The Government Network Forum is currently under development and may undergo significant changes before release. The Participant’s expectations regarding the form and functionality of the Forum and GOV Tokens may not be met upon release of new Website, deployment of the Forum, additional products and services for any number of reasons, including a change in the design and implementation plans and execution of the implementation of GOV Tokens.