Crypto Flare 

Revised: November 11, 2020

If you are accessing Services as a customer of a  Crypto Flare  reseller, the terms below do not apply to you, and your agreement with your reseller governs your use of the Services.

These Terms of Service (the “Agreement”) is made and entered into by and between Crypto Flare Ltd. ("Crypto Flare ") and the entity or person agreeing to these terms (the “Customer”).

This Agreement is effective as of the date that the Customer clicks to accept the Agreement (the “Effective Date”). If you are accepting on behalf of the Customer, you represent and warrant that: (i) you have full legal authority to bind the Customer to this Agreement; (ii) you have read and understood this Agreement; and (iii) you agree, on behalf of the Customer, to this Agreement. If you do not have the legal authority to bind the Customer, please do not click to accept. This Agreement governs the Customer’s access to and use of the hosted computational services offered by Crypto Flare (the “Services”). For an offline variant of this Agreement.

1. PROVISION OF SERVICES

1.1. Algorithm.

This Agreement is for the use of one algorithm in connection with transaction verification for one or more blockchain protocols. At the commencement of the Term of the Agreement, the Customer-selected algorithm may be employed for mining certain cryptocurrencies. As described in Section 3 below, the Customer acknowledges the risks associated with blockchain technologies and acknowledges that variations may occur with the protocols used to perform blockchain transaction verifications (“mining”) for cryptocurrencies using the algorithm selected by the Customer. The Customer-selected algorithm is reflected in the Crypto Flare Cloud Services Agreement Specifications document (the “Agreement Specifications”).

1.2. Computational Power and Hash Rate.

Crypto Flare power at a hash rate that is fixed for the Term of the Agreement, subject to Section 1.3 (Service Level Agreement and Variances). The Customer-selected hash rate is reflected in the Agreement Specifications.

1.3. Service Level Agreement and Variances.

The Customer acknowledges that the Services shall be rendered on a best effort basis. The availability of computational power and, accordingly, the output and results of any Services and cryptocurrencies may vary up to 5%. Notwithstanding the aforementioned variance, Crypto Flare  shall make reasonable efforts to ensure that all facilities and the relevant supplies for providing the Services are maintained in good working order to avoid any variance with the same diligence it applies in its own dealings.

2. PAYMENT TERMS, FEES, AND TAXES

2.1. Upfront Fees.

This Agreement and the provision of Services agreed to herein are subject to the Customer’s satisfaction of an upfront payment of a fixed amount, set in US Dollars for the given hash rate (“Upfront Fees”).

2.2. Maintenance Fees.

The Customer shall pay and owe Crypto Flare certain data center operations maintenance fees (“Maintenance Fees”) for use of the Services as described in this Agreement and the relevant Terms of Services Specifications. Crypto Flare  shall calculate and automatically deduct the Maintenance Fees from Customer’s Hash Rate Output on a daily basis. In the event that the Hash Rate Output for one or more days does not satisfy the Maintenance Fees, Crypto Flare may deduct the Maintenance Fees from any subsequent Hash Rate Output during the Term of the Agreement. Crypto Flare  may from time to time offer promotions where Customer’s may pay the Maintenance Fees in advance. Crypto Flare  may, from time to time, offer certain services, products, or promotions for which there is either no Maintenance Fees or the Maintenance Fees have been waived, modified, or discounted (e.g., Radiant Zero).