Throughout this agreement the terms “us”, “our”, and “we” refer to Arca Noae, LLC and CoinPayments.net collectively and their operator(s) and owner(s). The terms “you”, “your”, and “user” refer to the person or entity accessing CoinPayments.net from this site and using its services. The terms “coin” and “coins” are synonyms for cryptocurrencies.
By using the CoinPayments.net payment gateway you agree to be bound by both the Acceptable Use Policy (“AUP”) and this Cryptocurrency Payment Policy Addendum (“CPPA”). If there is a conflict between the terms of this Addendum and the AUP relating to your use of the CoinPayments.net payment gateway, the terms of this Addendum will control. Unless otherwise indicated in this Addendum, the term “Service” shall include the CoinPayments.net payment gateway and associated services delivered by CoinPayments.net under or in connection with this Addendum.
The CoinPayments.net payment gateway allows us to accept cryptocurrency payments using the CoinPayments.net services (“CoinPayments.net gateway”). Using the CoinPayments.net gateway, we allow you to pay for a product or service, or make a donation, with cryptocurrency. The CoinPayments.net gateway allows us to convert the cryptocurrency payment into the designated fiat currency via Coinbase and have those funds transferred into our Bank Account. The CoinPayments.net gateway is a technology layer that connects us to a reputable US-based cryptocurrency exchange provided by Coinbase, Inc. (“Coinbase”), leveraging the financial services of Silicon Valley Bank (“SVB”). Please read this Addendum carefully as it governs your use of the CoinPayments.net payment gateway.
a. Processing Charges
With a credit card, a given merchant collects a card number from a given customer. That card number may be used multiple times, but each time, the customer’s bank may choose to decline the charge. Simply collecting the card number does not guarantee access to any particular amount of funds.
With cryptocurrency, no saved number exists which might then be used in an attempt to charge multiple times or at a later date. Instead, the process is inverted, by advising the customer of the amount required and providing a method to accept that amount—a place where the funds may be “pushed.”
When you select the option to pay with cryptocurrency:
- Arca Noae specifies the amount to be collected, in USD. The amount of cryptocurrency needed to convert to your specified USD amount is calculated at the time of selecting that cryptocurrency.
- You select your desired cryptocurrency and complete your transaction on a page hosted by CoinPayments.net. Once that page is opened for the transaction, you are no longer transmitting any data through Arca Noae’s servers.
b. Refunds and Returns/Claims and Reversals
Refund Policy – Completed Transactions
It is the nature of Bitcoin, Litecoin, and the other cryptocurrencies on our website that all transactions are final with no method of chargeback or recourse for the sender of the funds. As such we are unable to reverse or provide refunds for any payment made through our payment system. This also applies if you contact us before the payment is completed but it reaches completion before we are able to respond. We do provide a feedback system so buyers can leave ratings for sellers (and vice versa).
Refund Policy – Incomplete Transactions
If your coins were not received and/or confirmed in time, we will gladly refund them to you. Simply open a support ticket with your CoinPayments transaction ID, verification code, and refund address. The ticket must be opened with the email address used in the transaction. We will in most cases email you to ask if you would like a refund, but this is not guaranteed. Refunds will be either (at our discretion): a) the original amount of coins received, or b) an amount equivalent to the USD value at the time of the transaction. All refunds must be claimed within 30 days of us receiving your coins or they will be forfeited.
Refund Policy – Tiny Amounts
For a refund to be honored it must be at least the network transaction fee (TX fee) for that coin times two, otherwise it will be forfeited. For example, at the time of this writing the Bitcoin TX fee is 0.0001 BTC so for any Bitcoin refund to be honored it must be at least 0.0002 BTC.
Funds Recovery – Sends to wrong coin/chain, missing tags, delisted coins, etc.
If coins are sent to the wrong coin or blockchain or to a delisted coin and need to be recovered by us manually there will be an 8% recovery fee; if the coins can be recovered at all. This would apply if for example you sent Ether to an Ether Classic address or Digitalcoin to a Dogecoin address, etc. This would also apply to coins that require a destination tag, payment ID, memo, etc. and they were not set or were set to an incorrect value. We will not recover tokens we do not support for example from Ether-based ICOs that aren’t on our Supported Coins list. You must contact us within 90 days for us to recover your funds for you or they will be forfeited.
Should you request a refund from us, we reserve the right to refund in USD and not in Bitcoin. You must provide a suitable account for accepting USD (a bank or PayPal account).
By accepting these terms, you represent and warrant that you have read and agree to the UAP prior to accepting and agreeing to this Addendum and agree to be bound by the terms therein as well as those described in this Addendum.
YOU UNDERSTAND AND AGREE THAT NO ADDITIONAL REPRESENTATIONS OR WARRANTIES ARE PROVIDED BY ARCA NOAE UNDER THIS ADDENDUM. YOU FURTHER UNDERSTAND, ACKNOWLEDGE, AND AGREE THAT IN NO EVENT SHALL ARCA NOAE (INCLUDING ANY EMPLOYEES, OFFICERS, DIRECTORS, OR CONTRACTORS THEREOF) BE LIABLE TO YOU UNDER THIS ADDENDUM, INCLUDING BUT NOT LIMITED TO (a) LOST PROFITS, LOSS OF DATA, OR ANY INDIRECT, PUNITIVE, INCIDENTAL, SPECIAL, CONSEQUENTIAL, OR EXEMPLARY DAMAGES ARISING OUT OF, IN CONNECTION WITH, OR RELATING TO THIS AGREEMENT OR THE SERVICES, INCLUDING WITHOUT LIMITATION THE USE OF, INABILITY TO USE, OR UNAVAILABILITY OF THE SERVICE (PAYMENT GATEWAY); (b) ANY DAMAGE, LOSS OR INJURY RESULTING FROM HACKING, TAMPERING, OR OTHER UNAUTHORIZED ACCESS OR USE OF THE SERVICE OR YOUR ARCA NOAE ACCOUNT OR THE INFORMATION CONTAINED THEREIN, OR YOUR FAILURE TO USE OR IMPLEMENT SECURITY CONTROLS THAT ARE APPROPRIATE FOR YOUR BUSINESS; OR (c) ANY DIRECT DAMAGES ARISING FROM YOUR USE OF THE BITCOIN API.
THIS LIMITATION OF LIABILITY SECTION APPLIES REGARDLESS OF THE LEGAL THEORY ON WHICH THE CLAIM IS BASED, INCLUDING WITHOUT LIMITATION CONTRACT, TORT (INCLUDING NEGLIGENCE), STRICT LIABILITY, OR ANY OTHER BASIS. THE LIMITATIONS APPLY EVEN IF ARCA NOAE, STRIPE, COINBASE, OR SVB HAVE BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGE.
THE PROVISIONS OF THIS SECTION SHALL APPLY TO THE FULLEST EXTENT PERMITTED BY LAW IN THE APPLICABLE JURISDICTION.