CEDEX Trading UK Limited (a registered company in England and Wales under Company No. 11579095, registered office at 64 New Cavendish Street, London, United Kingdom, W1G 8TB) and its affiliates (“CEDEX“, “we“, “our“) welcome you (the “User(s)“, or “you“) to our primary website at (the “Site“). Each of the Site’s Users may use the Site in accordance with the terms and conditions hereunder.
The Site is available only to individuals who: (a) are at least eighteen (18) years old; and (b) possess the legal capacity to enter into these Terms (on behalf of themselves and their organization, as applicable) and to form a binding agreement under any applicable law. You hereby represent that you possess the legal authority to enter into these Terms (and where you have specified, your organization’s behalf) and to form a binding agreement under any applicable law, to use the Site in accordance with these Terms, and to fully perform your obligations hereunder.
The Site provides, inter-alia, information regarding CEDEX’s services, concept, company overview, partners, resources library, news regarding our company, information regarding appraisal of diamonds using CEDEX’s proprietary algorithm (“DEX“) and the data provided by the DEX, information and/or analysis regarding diamonds (GIA grading information, diamond information from diamond suppliers data files), investment in diamonds, trading data (bids/asks, diamond prices, diamond value in CEDEX Digital Coin (“CC” or “CEDEX Coin“), for investment/withdrawal etc.), user account information (wallet, balances, digital certificates, bid/ask status etc.), information regarding CEDEX Coins, cryptocurrency exchanges and rates, Fiat Currency exchanges and rates, job opportunities and so forth, and other content related thereto such as contact information, videos, text, files, logos, button icons, images, data compilations, links, other specialized content, technical data, documentation, know-how, specifications materials, designs, data, the ‘look and feel’ of the Site, algorithms (additional to DEX), source and object code, interface, GUI, interactive features related graphics, illustrations, drawings, animations, and other information and features obtained from or through the Site or from email and newsletters sent from CEDEX if you signed up to a mailing list from the Site (collectively, the “Content“).
The Content is provided for general information only. It is not intended to amount to advice on which you should rely. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Although we make reasonable efforts to update the information on our Site, we make no representations, warranties or guarantees, whether express or implied, that the content on our site is accurate, complete or up to date.
Our Site may not be used by anyone in Iran, Democratic People’s Republic of Korea (North Korea), Syria, Somalia, Sudan (North), Cuba, Crimea, Zimbabwe, Lebanon or Gaza. CEDEX’s services not available to people in these jurisdictions.
Note: Use of our Site is currently free of charge. However, we reserve the right to charge fees for certain features or services available via our Site in the future.
If you choose to register an Account, you will need to provide certain personal information including your name, email address, and country. If you additionally choose to register your Account to trade, you may be requested to provide information for the purposes of identity verification and the detection of money laundering, terrorist financing, fraud, or any other financial crime and permit us to keep a record of such information.
If you choose or you are provided with, a user identification code, password or any other piece of information as part of our security procedures, you must treat such information as confidential. You must not disclose it to any third party.
If you know or suspect that anyone other than you know your user identification code or password, you must promptly notify us at firstname.lastname@example.org.
We are the owner or the licensee of all intellectual property rights in our Site and our Content, and in the material published on it.
Your use of the Site and Content is subject to a limited license, as follows. Failure to comply with any of the provisions set forth herein may result (at CEDEX’s sole discretion) in the immediate termination of your right to use of the Site, Content, any other Services we provide to you, and/or your account and may also expose you to civil and/or criminal liability.
You may print off one copy, and may download extracts, of any page(s) from our Site for your personal use and you may draw the attention of others within your organization to content posted on our site. You must not otherwise reproduce, or modify the Content in any way.
Unless otherwise explicitly permitted under these Terms or in writing by CEDEX, you may not (and you may not permit anyone to): (a) use the Site, the Content and/or your account for any illegal, immoral, unlawful and/or unauthorized purposes; (b) use the Site, the Content and/or your account for non-personal or commercial purposes; (c) remove or disassociate, from the Content and/or the Site any restrictions and signs indicating proprietary rights of CEDEX or its licensors, including but not limited to any proprietary notices contained in such materials (such as ©,™, or ®); (d) interfere with or violate other users’ rights to privacy and other rights, or harvest or collect personally identifiable information about the users of the Site without their express consent, whether manually or with the use of any robot, spider, crawler, any search or retrieval application, or use other manual or automatic device, process or method to access the Site and retrieve, index and/or data-mine information and or data manipulation; (e) interfere with or disrupt the operation of the Site or Platform or the servers or networks that host the Site or Platform, or disobey any laws, regulations, requirements, procedures, or policies of such servers or networks; (f) falsely state or otherwise misrepresent your affiliation with any person or entity, or express or imply that CEDEX endorses you, your site, your business or any statement you make, or present false or inaccurate information about the Site or Platform; (g) take any action that imposes, or may impose, an unreasonable or disproportionately large load on our platform infrastructure, as determined by us; (h) bypass any measures we may use to prevent or restrict access to the Site, Platform and or to your account; (i) copy, modify, alter, adapt, make available, translate, port, reverse engineer, decompile, or disassemble any portion of the Content or Platform made accessible by CEDEX on or through the Site, or publicly display, reproduce, create derivative works from, perform, distribute, or otherwise use such Content; (j) copy, distribute, display, execute publicly, make available to the public, reduce to human readable form, decompile, disassemble, adapt, sublicense, make any commercial use, sell, rent, transfer, lend, process, compile, reverse engineer, combine with other software, translate, modify or create derivative works of any Content or other material that is subject to CEDEX’s proprietary rights, including CEDEX’s Intellectual Property (as such term is defined below), in any way or by any means; (k) make any use of the Content on any other site or networked computer environment for any purpose without CEDEX’s prior written consent; (l) create a browser or border environment around CEDEX Content (no frames or inline linking is allowed); (m) sell, license, or exploit for any commercial purposes any use of or access to the Site, Platform, Content and/or your account; (n) frame or mirror any part of the Site without CEDEX’s prior express written authorization; (o) create a database by systematically downloading and storing all or any of the Content from the Site; (p) transmit or otherwise make available in connection with the Site any virus, worm, Trojan horse, logic bomb, web bug, spyware, or any other computer code, file, or program that may or is intended to damage or hijack the operation of any hardware, software, or telecommunications equipment, or any other actually or potentially harmful, disruptive, or invasive code or component; (q) use the Site for any purpose for which the Site is not intended; and/or (r) infringe and/or violate any of the Terms.
You can contact us at email@example.com. Please note that in order to communicate with us, you may be required to provide additional information, such as phone number, country of residence, company/organization name, the user’s position in the company/organization and full name.
Intellectual Property means patents, rights to inventions, copyrights (including rights in computer software), trademarks, goodwill and the right to sue for passing off, design rights, database rights, rights in undisclosed or confidential information (such as know-how, trade secrets and inventions (whether patentable or not), and all other intellectual property or similar proprietary rights which subsist anywhere in the world. The Intellectual Property rights in and to the Site, Platform, the Content (including DEX) are owned by and/or licensed to CEDEX. All rights not expressly granted to you hereunder are reserved by CEDEX and its licensors.
The Terms do not convey to you an interest in or to the CEDEX’s Intellectual Property but only a limited, revocable right of use in accordance with the Terms. Nothing in the Terms constitutes a waiver of CEDEX’s Intellectual Property under any law.
To the extent you submit any content to the Site, Platform or otherwise supply such to CEDEX (“User Content”), CEDEX shall have an non-exclusive, royalty-free, fully paid up, worldwide, perpetual and irrevocable license to incorporate the User Content into any CEDEX current or future products, technologies or services and use same for any purpose all without further compensation to you and without your approval. You agree that all such User Content shall be deemed to be non-confidential. If such User Content is confidential, do not submit it to the Site. Further, you warrant that your User Content is not subject to any license terms that would require CEDEX to comply with any additional obligations with respect to any CEDEX current or future products, technologies or services that incorporate any User Content.
CEDEX’s marks and logos and all other proprietary identifiers used by CEDEX in connection with the Site (“CEDEX’s Trade Marks“) are all trademarks and/or trade names of CEDEX, whether or not registered. All other trademarks, service marks, trade names and logos which may appear on the Site belong to their respective owners (“Third Party Marks“). No right, license, or interest to CEDEX’s Trade Marks and the Third Party Marks is granted hereunder, and you agree that no such right, license, or interest may be asserted by you with respect thereto and therefore you will avoid using any of those marks, except as permitted herein.
You are free to establish a hypertext link to Site so long as it is in a way that is fair and legal, the link does not state or imply any connection or approval by CEDEX of your website, products and/or services, and does not portray CEDEX in a false or otherwise offensive manner. You may not link to our Site from a site that you do not own or have permission to use. In the event that you link to CEDEX’s Site you represent that your site does not contain content that is unlawful, offensive or infringing third party rights. We do not permit framing or inline linking. We reserve the right to withdraw linking permission without notice.
The Site’s availability and functionality depends on various factors, such as communication networks. CEDEX does not warrant or guarantee that the Site will operate and/or be available at all times without disruption or interruption, or that it will be immune from unauthorized access or error-free.
We may suspend or withdraw or restrict the availability of all or any part of our Site for business and operational reasons. We will try to give you reasonable notice of any suspension or withdrawal.
CEDEX reserves the right to modify, correct, amend, enhance, improve, make any other changes to, or discontinue, temporarily or permanently this Site (or any part thereof, including but not limited to the Content) without notice, at any time. In addition, you hereby acknowledge that the Content provided under this Site may be changed, extended in terms of content and form or removed at any time without any notice to you. You agree that CEDEX shall not be liable to you or to any third party for any modification, suspension, or discontinuance of this Site or the Content included therein. You hereby agree that CEDEX is not responsible for any errors or malfunctions that may occur in connection with the performance of such changes.
Whether you are a consumer or a business user:
• We do not exclude or limit in any way our liability to you where it would be unlawful to do so. This includes liability for death or personal injury caused by our negligence or the negligence of our employees, agents or subcontractors and for fraud or fraudulent misrepresentation.
• Different limitations and exclusions of liability will apply to liability arising as a result of the supply of any services to you. Please refer to the specific terms and conditions of services which apply to you.
If you are a business user:
• We exclude all implied conditions, warranties, representations or other terms that may apply to our Site or Content on it.
• We will not be liable to you for any loss or damage, whether in contract, tort (including negligence), breach of statutory duty, or otherwise, even if foreseeable, arising under or in connection with: (a) use of, or inability to use, our site; or (b) use of or reliance on any content displayed on our site. In particular, we will not be liable for: (i) loss of profits, sales, business, or revenue; (ii) business interruption; (iii) loss of anticipated savings; (iv) loss of business opportunity, goodwill or reputation; or (v) any indirect or consequential loss or damage.
If you are a consumer user:
• Please note that we only provide our site for domestic and private use. You agree not to use our site for any commercial or business purposes, and we have no liability to you for any loss of profit, loss of business, business interruption, or loss of business opportunity.
• If defective digital content that we have supplied, damages a device or digital content belonging to you and this is caused by our failure to use reasonable care and skill, we will either repair the damage or pay you compensation. However, we will not be liable for damage that you could have avoided by following our advice to apply an update offered to you free of charge or for damage that was caused by you failing to correctly follow installation instructions or to have in place the minimum system requirements advised by us.
All Content on the Site is provided on an “as is” basis and to the maximum extent possible under law, we do not make any representation or give any warranty in respect of the Site or its Content, including that (i) that the use and operation of the Site and/or the Content is or will be secure, timely, accurate, complete, uninterrupted, without errors, or free of bugs, viruses, defects, worms, other harmful components or other program limitations; (ii) that we will correct any errors or defects in or on the Site, and/or (iii) make any representation regarding the use, inability to use or operate, or the results of the use of the Site and/or content available thereon or through the Site (including that the results of using the Site will meet your requirements). To the maximum extent possible under law, CEDEX and CEDEX’s representatives disclaim all warranties and conditions with regard to the use of the Site, including but not limited to the availability, reliability or the quality of the Site, and are not and shall not be responsible for any error, fault or mistake related to any Content and/or information displayed within the Site.
You are responsible for configuring your information technology, computer program and platform to access our site. You should use your own virus protection software. We are not responsible for any consequences to you or others that may result from technical problems (including without limitation in connection with the internet such as slow connections, traffic congestion, overload of servers, online data delays, any delays or interruptions) or any telecommunications or internet providers. You hereby acknowledge and agree that you may be charged for internet, maintenance of network connection and data usage charges made through use of the Site, according to the applicable rates charged by your respective third party Internet and data usage service provider as may be from time to time.
Inasmuch as some jurisdictions do not allow the exclusions or limitations as set forth herein, the full extent of the above exclusions and limitations may not apply.
You agree to defend, indemnify and hold harmless CEDEX, including CEDEX representatives from and against any and all claims, damages, obligations, losses, liabilities, costs, debts, and expenses (including but not limited to legal fees) arising from: (a) misuse of the Site, Platform and/or Content; (b) your violation of any of these Terms; (c) your violation of any third party rights, including without limitation any Intellectual Property rights or privacy right of such third party, in connection with your use of the Site; and (d) your violation of any local and or international law/s, regulations, authorities investigations/ information requests, false information and declarations.
You agree not to settle any matter subject to an indemnification by you without first obtaining our prior express written approval.
CEDEX may, at its sole discretion, change the Terms from time to time, including any other policies incorporated thereto, so please re-visit this page frequently. In case of any material change, we will make reasonable efforts to post a clear notice on the Site and/or will send you an e-mail (to the extent that you provided us with such e-mail address) regarding such change. All changes to these Terms are effective as of the stated “Last Revised” date and your continued use of the Site on or after the Last Revised date will constitute acceptance of, and agreement to be bound by, those changes. In the event that the Terms should be amended to comply with any legal requirements, the amendments may take effect immediately, or as required by the law and without any prior notice.
CEDEX may without notice suspend, restrict or terminate your access to the Site and CEDEX services and/or deactivate or cancel your account with immediate effect if (a) you violate these Terms or you engage in any conduct that we, in our sole and absolute discretion, believe is in violation of any applicable law or regulation or is otherwise harmful to the interests of us, any other user of the Site or CEDEX’s services, or any third party; (b) we are, in our reasonable opinion, required to do so by applicable law or any court or other authority to which we are subject in any jurisdiction; (c) we suspect money laundering, terrorist financing, fraud, or any other financial crime. This is in addition to any other remedies that may be available to CEDEX under any applicable law.
Without limiting the generality of the forgoing, the Intellectual Property, Limitation of Liability, Indemnification and General sections will survive the termination of the Terms.
(a) To the extent permitted by law, these Terms and the relevant Platform Services Agreement constitute the entire terms and conditions between you and CEDEX relating to access to the Site and Content herein and supersedes any and all prior or contemporaneous written or oral agreements or understandings between you and CEDEX (in relation to use of the Platform, please refer to the services agreement applicable); (b) any claim relating to the Site or the use thereof will be governed by and interpreted in accordance with the laws of the United Kingdom without reference to its conflict-of-laws principles and the United Nations Convention Relating to a Uniform Law on the International Sale of Goods may not be applied; (c) any dispute arising out of or related to the Site will be brought in, and you hereby consent to exclusive jurisdiction and venue in, the competent courts of United Kingdom; (d) these Terms do not, and shall not be construed to create any relationship, partnership, joint venture, employer-employee, agency, or franchisor-franchisee relationship between the parties hereto; (e) no waiver by either party of any breach or default hereunder will be deemed to be a waiver of any preceding or subsequent breach or default. Any heading, caption or section title contained herein is inserted only as a matter of convenience, and in no way defines or explains any section or provision hereof; (f) if any provision hereof is adjudged by any court of competent jurisdiction to be unenforceable, that provision shall be limited or eliminated to the minimum extent necessary so that these Terms shall otherwise remain in full force and effect while most nearly adhering to the intent expressed herein; (g) you may not assign or transfer these Terms (including all rights and obligations hereunder) without our prior written consent and any attempt to do so in violation of the foregoing shall be void. We may assign or transfer these Terms without restriction or notification; (h) nobody else has any rights under this contract. This contract is between you and us. No other person shall have any rights to enforce any of its terms; (i) the parties agree that all correspondence relating to these Terms shall be written in the English language.
If you have any questions (or comments) concerning the Terms, you are most welcome to send us an e-mail to firstname.lastname@example.org.
*Important! Please read carefully the Rulebook below before using CEDEX Platform and/or the Platform Services:
Applicable Laws means any applicable statute, law, ordinance, regulation, rule, code, guidance, order, judgment, requirement, decision or principle of common law or equity of a Governmental Authority.
User CEDEX Account means an account the User will have with CEDEX in his name, whereby User will deposit and hold his CEDEX Coins at; and will either receive funds from sales of Diamonds on the Platform to such an account, or pay for the purchase of Diamonds on the Platform from this account or conduct any other activities which may be available by CEDEX now or in the future.
Business Day means any day on which banks are generally open for business in the UK.
CEDEX means CEDEX Trading UK Limited and its affiliates and subsidiaries.
CEDEX Coins means the digital assets issued by CEDEX Holdings Ltd. which is a ERC-20 compliant cryptocurrency, allowing traders to buy Diamonds on the Platform and to pay for other related services. Activities done on the Platform will be conducted by using CEDEX Coins, other cryptocurrencies (such as BTC, ETH) and/or by Fiat Currency as may be determined by CEDEX from time to time.
Content means information regarding appraisal of diamonds using CEDEX’s proprietary algorithm (DEX) and the data deriving by the DEX, information of diamond certification as sourced directly from GIA data (GIA grading information), investment in diamonds, trading data (bids/asks, diamond prices, diamond value in CEDEX Coins for investment/withdrawal etc.), User CEDEX Account information (wallet, balances, digital certificates, bid/ask status etc.), information regarding CEDEX Coins, cryptocurrency exchanges and rates, Fiat Currency exchanges and rates and/or rates related to the Trading and services provided on the Platform.
Custodian means Malca-Amit in Hong Kong, Geneva or any other location and/or any other custodian CEDEX may engage with from time to time for the purposes of safekeeping and storage of Diamonds.
Dashboard means user interface in the Platform, which enables Users to, inter alia, publish and/or remove inventory, set asking prices, pricing rules and accept bids, track diamond import process, view history buy/sell activity, view diamond details, including GIA number, link to GIA certificate, and link to the underlying transaction of DDC creation on the blockchain or any other information CEDEX may choose to display on the dashboard according to changes it may perform from time to time.
Delivery Service Provider means Malca-Amit and/or any other delivery service provider CEDEX may engage with from time to time for the purposes of delivering the Diamonds.
other CEDEX’s selected vendor/s for performing diamond transportation services.
Disclosing Party means CEDEX or any User that transfers Relevant Personal Data to a Recipient Party in connection with the provision and/or receipt of any CEDEX services.
Diamond means any diamond uploaded to the Platform by the User; such a diamond must be a natural diamond (not synthetic/man-made/lab-grown diamond/color treated or enhanced), polished only and unmounted in accordance with Applicable Laws and not from the restricted jurisdictions as such list may be updated from time to time
DEX means CEDEX’s proprietary algorithm that incorporates artificial intelligence and machine-learning to analyze diamonds’ value, with limited or no human intervention, based on its gemological characteristics as well as other parameters such as price.
Digital Diamond Certificate or DDC means a certification created when there is a Match on the Platform (exclusive off a PDH (Private Diamond Holders) which a DDC is created when the diamond was reached to Custodian )) on the Platform. This certificate represents a Diamond’s ownership and includes the gem composite, as well as its historical trading information, financial data (from the DEX ratings), storage location, owner number and photos (future feature) and any other information CEDEX may choose to add to the DDC as required by systems changes or updates.
Bid Price means the amount a user is willing to pay/ to invest.
Ask Price means the amount that the supplier/ user is willing to sell his Diamond.
Fees and/or Charges means all fees, charges and all other sums payable in respect of the services and any other related use of the Platform, including shipping fees, Listing Fees, custodian fees, verification fees, transaction fees, trading fees, transaction commissions, conversion fees and others as they may be determined and updated from time to time by CEDEX.
Force Majeure Event means any event or circumstances beyond the reasonable control of CEDEX or any other relevant party, including:
(a) any strike, lockout or other form of industrial action;
(b) acts of God, accidents, fires, floods, storms, earthquakes, water damage, explosions, power outages;
(c) substantial failure of equipment, machinery or communication links to the extent that such failure is not reasonably preventable by either party; and
(d) war, hostilities, terrorist acts, armed conflict, civil commotion, insurrection, riots, sabotage, epidemics and diseases.
Gemological Laboratory or Lab means the GIA or any other laboratory as may be determined by CEDEX from time to time;
General Data Protection Regulation means Regulation (EU) 2016/679 of 27 April 2016 on the protection of natural persons with regard to the processing of personal data and on the free movement of such data.
GIA means the Gemological Institute of America including any GIA Labs around the world, including any branches.
GIA Certificate means a certificate issued by GIA which holds the information about the Diamond certified.
Governmental Authority means any governmental or administrative authority, regulatory or self-regulatory body or judicial or arbitral body anywhere in the world with jurisdiction over the relevant affairs of CEDEX and/or the User, including any person which exercises a regulatory or supervisory function or otherwise with competent jurisdiction under any Applicable Laws of any jurisdiction in relation to the Platform Services, the Platform, CEDEX Coins or any other related matter.
Imported Data refers to a report which contains the updated Diamond inventory of a specific Supplier by way comma separated values (CSV) file or application program interface (API), diamond details uploaded to the platform via the SIA mechanism, diamond sells details we import for the purpose of calculating Dex, Etc.
Listing Fees means the fees which are charged to cover the costs of shipping, verification ,handling and storing the Diamond/s with a Custodian for a certain period of time as determined by CEDEX from time to time. Such Listing Fees apply only upon a consummated transaction.
Fee amounts are determined as a percentage of each of the Diamond value as recorded during a Match (unless the diamond listed by a PDH, which will pay listing fees from the day Diamond reached the custodian).
Match refers to a match between a User’s asking price and a purchaser’s bid on the Platform, meaning the amount a user is willing to pay – Bid price, is greater or equal to the amount a user is willing to sell his diamond – Ask price base on execution currency. Bid/ Ask may be applied in different currencies.
The matching engine converts/ normalize the Bid/Ask prices to a single currency to determine if there’s a match. When Bid price > Ask price, match price = Ask price.
Platform means CEDEX trading arena whereby various Diamonds from across the world will be put up for sale allowing buyers and sellers to buy and sell their Diamonds. The platform will also perform as the entry point for Users, whereby they can check their accounts, monitor transactions, contact CEDEX and manage their finances.
Platform Services or CEDEX Services means all services provided on the Platform including display of Diamonds and their prices, trading activities, matching processes, registration process, open and managing User CEDEX Account and any other related service CEDEX will offer from time to time. The Platform and/or the Platform Services may not be used by anyone in Iran, Democratic People’s Republic of Korea (North Korea), Syria, Somalia, Sudan (North), Cuba, Crimea, Zimbabwe, Lebanon or Gaza. CEDEX’s Services are not available to people in these jurisdictions.
Private Diamond Holder or PDH means any person or entity that is not a diamond supplier and owns and holds a Diamond that he wants to upload and sell on the Platform. All Diamonds uploaded by PDH must be a natural diamond (not synthetic/man-made/lab-grown diamond/color treated or enhanced), polished only and unmounted in accordance with Applicable Laws.
Recipient Party means CEDEX or any User that receives Relevant Personal Data from a Disclosing Party in connection with the provision and/or receipt of any CEDEX services.
Relevant Personal Data means any personal data (as defined in the General Data Protection Regulation) that is transferred by the Disclosing Party to the Recipient Party in connection with the provision and/or receipt of any CEDEX services.
Rule means any rule of this Rulebook as amended from time to time by CEDEX.
Rulebook or Platform Services Agreement means this Rulebook and any subsequent update/s and/ or change/s CEDEX may decides to do, in its sole discretion from time to time. This Rulebook together with the Terms constitute the Platform services use and service agreement between CEDEX and the User.
Settlement means the delivery of the Diamond/s (as well as its respective ownership and Diamond Digital Certificate) in exchange for payment, as specified in this Rulebook from time to time by CEDEX. Settlement period will be up to 21 Business Days from the occurrence of a Match. This term can refer in the context Cedex Coins in exchange to service or product, reconciliation to USD payments, physical diamond delivery, cash withdraw, etc.
Site means a site whereby CEDEX provides information regarding, inter-alia, CEDEX’s services, Platform Services, concept, company overview, partners, resources library, news regarding the company, information regarding the DEX and the data provided by the DEX, information and/or analysis regarding diamonds (GIA grading information, diamond information from diamond suppliers data files), investment in diamonds, trading data (bids/asks, Diamond prices, Diamond value in CEDEX Coins for investment/withdrawal etc.), user account information (wallet, balances, digital certificates, bid/ask status etc.), CEDEX Coins, cryptocurrencies exchanges and rates, Fiat Currency exchanges and rates.
Supplier means an authorized diamond company that signed a supplier agreement with CEDEX.
Supplier’s Working Day means any day on which the Supplier is open for business;
System means the operation and application software and hardware and network configurations used by CEDEX to provide CEDEX Services.
Trading Hours means the hours on a Business Day that the Platform is open for accepting bids/asks/ and any other orders.
Transaction means that the seller received the Diamond’s consideration and the buyer received ownership of the purchased Diamond.
User means any person and/or entity, including Supplier and PDH, that registered in the Platform and is authorized by CEDEX to use the Platform.
In this Rulebook:
(a) references to the words includes or including are to be construed without limitation;
(b) all references to time are references to time in London;
(c) words or phrases importing the singular include the plural and vice versa;
(d) a word or expression related to a defined term has a consistent meaning to the defined term;
(e) Words, regardless of the number and gender specifically used, will be construed to include any other number, singular or plural, and any gender.
(f) references to these Rules are references to the rules in this Rulebook, as varied, supplemented or replaced from time to time;
(f) references to any Rule is to this contained in this Rulebook;
By using the Platform and/or CEDEX Services, you further acknowledge that all duties and obligations that may apply to you by any Applicable Law are not covered by this Rulebook and/or the Terms, and are solely your responsibility which you will adhere to at all times.
4.1 The Platform is available only to individuals who (a) are older than eighteen (18) years old; and (b) possess the legal capacity to enter and use the Platform and the Platform Services (on behalf of themselves and/or their organization).
4.2 You hereby represent that you possess the legal authority to enter and use the Platform and/or the Platform Services on your and/or your organization’s behalf and to use them in accordance with the Rulebook and Terms, and to fully perform your obligations hereunder.
4.3 For the avoidance of doubt, any act or omission performed by you in connection with the Platform shall obligate you and/or your organization.
4.4 The data uploaded by you to the Platform in respect of the Diamond/s is true, accurate, complete and represents real Diamond/s that are legally owned by you (not consigned by anyone else), and you are the solely beneficial owner of it. Furthermore, you hereby represent and warrant that there are no liens, encumbrances, pledges, security interests on the Diamond/s that would affect your right, title or interest in the Diamond/s.
4.5 The Diamond/s and the respective GIA Certificate/s are either in your physical possession or in the Custodian, available for immediate collection.
4.6 Each Diamond uploaded to the Platform by you is a natural Diamond (not synthetic/man-made/lab-grown diamond/color treated or enhanced), polished and unmounted according to Applicable Laws and is certified by the GIA.
4.7 You further represent that the Diamond/s are legal and not directly involved with human rights violations, in accordance with the rules set out in the Kimberley Process Certification Scheme. Among others, the actions for the physical production of the Diamond/s did not involve murder, rape, physical violence or forced servitude. The Diamond/s have been purchased from legitimate sources not involved in funding conflict and in compliance with United Nations resolutions.
4.8 By uploading any data to the Platform, you represent and warrant that, to the best of your knowledge, the data uploaded does not infringe any third party’s rights (including copyrights and privacy rights) and is not defamatory or unlawful.
4.9 Without derogating from any rights CEDEX may have under Applicable Laws, in the event that you violate any of the Rules and/or the Terms you will be subject to having your access to the Platform revoked, at CEDEX sole discretion. Furthermore, in case you are found to have listed or traded a Diamond/s in violation of this Rule 4, your access to the Platform and/or to the Platform Services may be permanently terminated without notice, and when applicable, be subject to any penalties provided by Applicable Laws.
4.10 You further acknowledge that the use of the Platform and/or the Platform Services available by CEDEX from time to time is entirely at your own risk and responsibility.
4.11 You also acknowledges that subject to rules: 14,17, 18, 20, 21 CEDEX has and will have the right, and will not be held responsible, to terminate, suspend or restrict the access, use and operation of the Platform, the Platform Services, User CEDEX Account and any related matter, temporarily or permanently without a prior notice to User.
For the avoidance of doubt, the Platform serves as an exchange platform and as an informative tool. The Platform and the Platform Content do not bind CEDEX and/or its employees. In a case, where the Platform Content contradicts or is inconsistent with separate agreements executed directly between CEDEX and you, those executed agreements’ sections shall prevail. CEDEX reserves the right to change, update, and substitute or otherwise the Platform, Systems and the Platform Services, in its sole discretion from time to time without any prior notice.
CEDEX does not warrant that the Platform or access to it will be error-free or uninterrupted, and you acknowledge and accept that the information contained on the Platform may include technical inaccuracies.
CEDEX does not warrant that the Platform or its contents are free of viruses or any malicious software and CEDEX is not responsible or liable to you for any loss or damage suffered or incurred from any virus or malicious software by accessing or using the Platform and/or the platform Services. You acknowledge and agree that without limiting any of the above matters, your access and use of the Platform is entirely at your own risk.
ALL RIGHTS IN AND TO THE PLATFORM AND/OR THE PLATFORM CONTENT AVAILABLE ON THE PLATFORM ARE RESERVED TO CEDEX OR ITS LICENSORS. TO THE EXTENT LEGALLY PERMISSIBLE, THE PLATFORM AND/OR THE PLATFORM CONTENT AVAILABLE THEREIN ARE PROVIDED ON AN “AS IS” BASIS. CEDEX WILL NOT BE LIABLE FOR ANY DAMAGES OR ANY KIND OF LOSS (DATA, FUNDS, DIGITAL CERTIFICATE LINKAGE TO WALLET, TRADING DATA DELAYS, LABORATORY RESULTS AND DELAYS, SHIPPING & PAYMENT DELAYS), THEFT, DIGITAL OR OTHERWISE OF THE ABOVE INCURRED TO YOU, OR SOMEONE ELSE ACTING ON YOUR BEHALF (WITH OR WITHOUT PERMISSION) OR ANY OTHER THIRD PARTY AND ITS AFFILIATES AS A RESULT OF OR IN CONNECTION WITH THE USE OF THE PLATFORM AND/OR THE PLATFORM CONTENT AND/OR THE PLATFORM SERVICES AVAILABLE THEREIN.
YOUR USE OF THE PLATFORM AND/OR THE PLATFORM SERVICES AVAILABLE THEREIN IS ENTIRELY AT YOUR OWN RISK AND RESPONSIBILITY.
CEDEX reserves the right, in its sole discretion, to charge fees for certain features or services available on the Platform in the future and from time to time.
Before completing the below registration process, anyone can view Diamonds and other data information available on the Platform without any trading or deposits abilities and/or permissions. In order to be able to use the Platform and its services, you must complete the onboarding/registration process, as well as agreeing to the Website Terms and Conditions and to this Platform Services agreement & Rulebook.
6.1 The registration process is a two stage process:
6.1.1 At the first stage, before any potential User may access the Platform, he must first register with the Platform by providing information such as the potential User’s full name, country of domicile, email address and so on.
6.1.2 The registration process will include the approval of CEDEX website Terms and Conditions and approval of CEDEX Platform use and services agreement & Rulebook.
6.1.3 After completing the first stage of the registration process, the potential User would only be able to view the data on the Platform without any trading permissions.
6.1.4 In the second stage, before trading can commence, a potential User will be requested to successfully complete a KYC process. As part of this process, the potential User will need, among other things, to upload a copy of his valid documents such as: passport, utility bill and download and fill out and return CEDEX compliance form2.
6.2 CEDEX will then need to approve the potential User or decline it within 72 hours, unless there is an unexpected delay that would cause the postponement of such a time.
6.3 In a case a potential User was approved by CEDEX, he will then be allowed to deposit CEDEX Coins (Fiat Currency or other cryptocurrencies in the future) into his User CEDEX Account with CEDEX and start trading.
Trading on the Platform will be done as follows:
7.1 A User that owns a Diamond and wishes to sell it, would upload the Diamond’s information, including the Diamond’s asking price, to the Platform by using the Dashboard and/or the Imported Data.
7.2 The information and the data uploaded by the User to the Dashboard and/or to the Imported Data will be binding on the User and under his sole responsibility so as any subsequent updates, changes and so forth. Once the User set a rule in the Dashboard and/or in the Imported Data, it will be binding on the User.
7.3 The User will make any required changes and updates to its inventory as soon as possible. Until such a change/update take place, all information already uploaded to the Platform will be binding on the User (as well as any changes and updates thereof).
7.4 Changes made by the User through the Dashboard will be applied and shown on the Platform immediately.
7.5 Changes made by the Supplier in the Imported Data will be shown in the Platform Within 30 minutes from actual update.
7.6 The data shown in the Dashboard, including, without limitation, the availability of the Diamond/s and their asking price(s), shall prevail on the data shown in the Imported Data or in any other communication mean between CEDEX and the User. For the removal of doubt, changes made through the Dashboard shall prevail over a subsequent update to the Imported Data.
7.7 CEDEX will not be liable for any changes in prices fail to display by the User or due to data delays at the User’s (or anyone on his behalf) infrastructure, software or other.
7.8 User will then could place bids on the Platform. Once the User accepted a bid, the Platform will perform a matching process that will be final and binding on both sides and none of the parties would be able to cancel and/or reject the Transaction.
7.9 The parties agree that at the time of a Match, the relevant Platform Services were fully performed for the purpose of cancellation, and thus, the parties will lose their right to cancel the Transaction.
7.10 Legal ownership of the Diamond/s sold in a Transaction will then be transferred following a Custodian notice to CEDEX that the Diamond/s are in its custody. This can happen either when a Diamond is being transferred to the Custodian or when a Diamond is already in the Custodian possession (in which case no further notice from the Custodian will be required).
7.11 Following such a notice, CEDEX will arrange for the actual Settlement of the Transaction, transferring the consideration in CEDEX Coins to the User CEDEX Account, in accordance with the provisions of Rule 11 below, and the ownership, i.e., the Digital Diamond Certificate to the User who purchased the Diamond/s.
7.12 Settlement of Transaction shall be performed within 21 Business Days from the occurrence of a Match, or within a different time period as CEDEX may determines from time to time.
7.13 Immediately after a Match occurs, the User will update his inventory to reflect the sale of the Diamond/s.
7.14 The Diamond/s purchased on the Platform shall be kept by the Custodian for future trading on the Platform. However, if the User wishes to have the Diamond/s delivered to him he would notify CEDEX in writing. For delivery process see Rule 13 below. Any and all charges and fees incurred in either case (i.e., in case of physically delivery of the Diamond/s or for keeping the Diamond/s with the Custodian) will be borne by the User.
7.15 CEDEX retains the right to cancel any Transaction due to any delay, defect or for any other reason (including Lab downgrading, mismatch of a certificate etc.) arising within 21 Business Days following a Match (“Failed Settlement“).
7.15.1 At the event of a Failed Settlement, CEDEX shall return the CEDEX Coins to the User Account. In a case of a Supplier, such amount will be returned to Supplier minus any fees and expenses charged by CEDEX.
7.15.2 CEDEX will not held responsible for Failed Settlement or for any other matter thereof, including any loss or incidental, direct or indirect, intangible or consequential damages, expenses, fees, taxes, storage or otherwise or for any legal aspect arising out of such a Failed Settlement.
7.15.3 The User agrees to defend and indemnify and hold harmless CEDEX and its affiliates from and against any and all claims, demands, proceedings, actions, settlements, losses, costs, expenses, obligations, liabilities, damages, recoveries and deficiencies (including interest, penalties and reasonable attorneys’ fees) sought by third-parties resulting from, in connection with, or arising out of such Failed Settlement.
7.16 Before a Match takes place, a User will deposit the allocated bid amount from the user available balance shows on the Platform for the specific Diamond/s and or bid. This quotation includes all fees and expenses, including, without limitation, Listing Fees, the fees and expenses in relation to the collection, delivery, custodian, evaluation and Lab verification processes, as determined by CEDEX from time to time. In the event that additional funds are required to cover the above, the User will transfer such amounts immediately upon CEDEX’s first request to User CEDEX Account; and in a case of “Failed Settlement, any costs incurred as a result of User’s failure to respond in a timely manner will be borne by the User in fault as may be determined by CEDEX.
The DEX grading score allows Users to receive a non-biased input in respect to Diamonds’ prices. The DEX takes into consideration the components described hereafter and outputs a grading score which ranges between 70 to 130. The objective of the grading score is to provide Users with indications regarding the quality and price of the investment. Higher grading score (towards 130) suggests the better the investment might be while lower grading score (towards 70) implies that the investment is less favorable.
The followings are current components that the DEX takes into consideration when performing its score calculation formula (such components may be changed, added, removed or substituted on CEDEX sole discretion):
Gem Composite (GC): Evaluation of diamonds gemological perfection as analyzed by CEDEX machine learning algorithm.
GIA grading: Diamond scoring is based on certification results conducted by GIA (Gemological Institute of America).
Estimated Market Price (EMP): CEDEX is receiving diamond market price feeds from several sources and strives to expand its reach. Current feed is based on the following resources:
(i) Price feeds from diamond Suppliers.
(ii) IDEXonline.com – B2B diamond trading company.
Parallel Index (Pr): based on criteria such as rarity and demand, CEDEX is publishing a list of rarity per diamond category. The list is published and gives an indication to market trends in the industry and over the platform.
At this point, a DDC will be created for the specific Diamond, listing all relevant information about its whereabouts, price, and gem information. The Diamond will then be passed on to the Custodian and will be listed on the Platform.
9.1 Following a Match, the Delivery Service Provider will coordinate with the User a time for the collection of the Diamond/s purchased together with the required documents from the User, unless the Diamond/s are already with the Custodian in such a case, this Rule 9 will not apply.
9.2 The Delivery Service Provider will collect the Diamond/s, the GIA Certificate/s, the export documents and the invoice from the User at the agreed time for delivery to the Lab as well as any other document which may be required in order to complete the delivery process of the Diamond to the Custodian location.
9.3 Following the collection of the Diamond/s from the User, the Delivery Service Provider will deliver the Diamond/s and the GIA Certificate/s to the Lab. The Lab will verify the identification and the grading of the Diamond/s in order to establish that the grading elements of the Diamond/s identical to the grading elements described in the GIA grading lab initial certificate.
9.4 Once the Diamond/s’ identification and grading are approved by the Lab, the Diamond/s shall be collected from the Lab by the Delivery Service Provider which shall transfer the Diamond/s to the Custodian.
9.5 In the event that the collection of the Diamond/s at the agreed time fails due to the User’s fault or the Diamond/s fails to be authenticated or considered to be different and/or downgraded from the grading set forth in the Diamond/s GIA initial certificate or for any reason whatsoever, CEDEX will declare the Transaction as a Failed Settlement. In such a case, instructions of Rule 7.13 above shall apply.
9.6 The Lab determination regarding the grading will be final and the User will not be able to ask for a “recheck” or any other request regarding the Diamond/s by the Lab after the Match during the process with CEDEX.
CEDEX is not responsible for, nor guarantees the performance of, any Transaction. Each User agrees that it has no rights against CEDEX and is not to proceed against CEDEX to collect or recover sums or to enforce any rights in connection with, or as a result of, any Transaction or Failed Settlement.
11.1 Once CEDEX receives a confirmation from the Custodian that the Diamond/s have been received, CEDEX shall transfer the Diamond/s’s purchase price, net any Listing Fees and any other fees and/or charges as may be determined by CEDEX from time to time, to the User’s CEDEX Account with CEDEX or, in the future, to the User’s bank account, within 21 Business Days from the Match occurrence date. Notwithstanding the foregoing, the User acknowledges that due to third parties’ involvement (banks, exchanges etc.) the payment may be made within a longer period and CEDEX will not have any liability in connection with such a delay or for any other fault by any third party.
11.2 CEDEX will then wire the payment (see Rule 11.3 below) from CEDEX Account or any other CEDEX account as determined by CEDEX sole discretion, and will not be held responsible for any refusal to accept the payment by the User’s bank account or User CEDEX Account and or any User Wallet, Any expenses incurred from such a refusal and/or any other reason that will cause a delay in payment, will be borne solely by the User. On such a case, the parties will bona fide communicate to resolve the matter in order to provide the User with the Diamond/s’s consideration.
11.3 CEDEX shall have the right to deduct and withhold from payment and/or from User CEDEX Account any and all Fees (including Listing fees, taxes, and any other fees and/or charges) as well as any unpaid amounts owed to CEDEX from the User, due to the use of the Platform, CEDEX Services, taxes, fees (including Listing Fees, Custodian Fees etc.) and any other related amount arising out of, or in connection with them or when such required by law. In such a case, CEDEX will notify the User about its intention in writing and will provide the User 48 hours to pay such outstanding amounts before deducting it.
11.4 In addition, if User CEDEX Account has insufficient funds to pay applicable fees, that User will promptly provide such additional funds.
11.5 Also, CEDEX has the right, in a case of insufficient funds, after notifying the User in writing and after the 48 hours elapsed (see Rule 11.3 and Rule 11.4 above) and the User still hasn’t provided the requested funds, to sale the Diamond/s on the Platform, without the User further consent and use such funds received from the sale to pay undue amounts. Any amount left, after deducting the amounts due, CEDEX will transfer to User CEDEX Account.
12.1 The Platform displays the ask and bid prices in CEDEX Coins and in USD. The prices shown in CEDEX Coins including Listing Fees AND NOT includes other applicable fees (such as trading fees, custodian fees) at the time of a Match will bind the parties to the Transaction.
12.2 The payment from CEDEX to the User CEDEX Account shall be made in either CEDEX Coins or by Fiat Currency or other cryptocurrencies (in the future).
13.1 A User who purchased a Diamond on the Platform, may request for the Diamond to be delivered to an address provided by him. In such a case, the User will bear a full responsibility to check and update CEDEX, of any Applicable Laws that may apply to such a service before requesting CEDEX to arrange for the delivery. The User will communicate with CEDEX to arrange the delivery after gathering all such required information.
13.2 All fees and expenses related and occurring out of such a delivery will be borne solely on the User. The User will deposit, in advance of the delivery, all expenses and fees for performing the delivery (including, but not limited to unexpected fees, such as delivery return to Custodian, custodian fees etc.).
13.3 Any additional and unexpected expenses that may be resulted from such a delivery and which were not deposited in advance with CEDEX will be paid immediately upon CEDEX’s first request by the User.
13.4 The User knowledges that unexpected refusals, restrictions, barriers, withholdings etc. may occur as a result of such delivery by local authorities and other Governmental Authorities. Thus, as stated in Rule13.1, User will find out and communicate with CEDEX, in advance, whether such delivery is possible and what the requirements are, before such a delivery may take place. This may include taxes, declarations, customs etc.). CEDEX will not be held liable for any failure on the User’s part to communicate with said authorities in a proper and timely manner.
13.5 After receiving all the required information regarding such a delivery and the chartable fees for it, CEDEX will make its best efforts to execute such a delivery in a timely manner. CEDEX will not held responsible for the delivery process, its failure, or for any other matter thereof, including any loss or incidental, direct or indirect, intangible or consequential damages, expenses, fees, taxes, storage or otherwise or for any legal aspect arising out of such a delivery.
13.6 The User agrees to defend and indemnify and hold harmless CEDEX and its affiliates from and against any and all claims, demands, proceedings, actions, settlements, losses, costs, expenses, obligations, liabilities, damages, recoveries and deficiencies (including interest, penalties and reasonable attorneys’ fees) sought by third-parties resulting from, in connection with, or arising out of such a delivery.
14.1 A User must not commit any act or engage in any course of conduct which is likely to damage the fairness, integrity, proper functioning or orderliness of the Platform and/or CEDEX Services or bring CEDEX into disrepute. A User must also not abuse, misrepresent, mislead or otherwise when using the Platform and/or CEDEX Services provided thereof.
14.2 A User must also not act in any way that violates any Applicable Laws, including, but not limited to Anti Money Laundering, Counter Terrorist Financing local and international and Kimberley Process and any of the Rules and Terms as they may be changed from time to time.
14.3 The User is also strictly prohibited from engaging with any of the following behaviors:
Unless otherwise explicitly permitted under these Rules or is otherwise agreed upon, in writing, by CEDEX, you may not (and you may not permit anyone else to):
(a) use Platform and/or Platform Services and/or any account thereof for any illegal, immoral, unlawful and/or unauthorized purposes;
(b) use the Platform and/or the Platform Services and/or any account thereof for non-personal or commercial purposes;
(c) remove or disassociate, from the Platform any restrictions and signs indicating proprietary rights of CEDEX or its licensors, including but not limited to any proprietary notices contained in such materials (such as ©, ™, or ®);
(d) interfere with or violate Users’ rights to privacy and other rights, or harvest or collect personally identifiable information about Users without their express consent, whether manually or with the use of any robot, spider, crawler, any search or retrieval application, or use other manual or automatic device, process or method to access the Platform and/or any account thereof and retrieve, index and/or data-mine information and or data manipulation;
(e) interfere with or disrupt the operation of the Platform and/or Platform Services and/or CEDEX Coins and/or servers and/or networks, or disobey any laws, regulations, requirements, procedures, or policies of the Platform and/or the Terms and/or such servers and/or networks;
(f) falsely state or otherwise misrepresent your affiliation with any person or entity, express or imply, that CEDEX endorses you, your site, your business or any statement you make, or present false or inaccurate information about CEDEX and/or the Platform and/or CEDEX Coins and/or Diamonds any other related issue;
(g) load on CEDEX’s infrastructure, or detrimentally interfere with, intercept, or expropriate any system, data, or information; transmit or upload any material to CEDEX systems that contains viruses, trojan horses, worms, or any other harmful or deleterious programs; attempt to gain unauthorized access to CEDEX systems, computer systems or networks connected to CEDEX’S systems; use CEDEX Account information of another party to access or use the Systems, except in the case of specific User and/or applications which are specifically authorized by a CEDEX to access such User CEDEX Account and information; or transfer User CEDEX Account access or rights to a third party;
(h) bypass any measures that may be used to prevent or restrict access to the Platform and/or Platform Services and/or any account used for that purpose;
(i) attempt to hide or manipulate or modify via any means your IP address and or MAC address;
(j) copy, modify, alter, adapt, make available, translate, port, reverse engineer, decompile, or disassemble any portion of the Platform and/or the Platform Content made accessible by CEDEX on or through the Platform, or publicly display, reproduce, create derivative works from, perform, distribute, or otherwise use such Content;
(k) copy, distribute, display, execute publicly, make available to the public, reduce to human readable form, decompile, disassemble, adapt, sublicense, make any commercial use, sell, rent, transfer, lend, process, compile, reverse engineer, combine with other software, translate, modify or create derivative works of any material that is subject to CEDEX’s proprietary rights, including CEDEX’s Intellectual Property (as such term is defined in the Terms), in any way or by any means;
(l) make any use of the Platform Content on any other site or networked computer environment for any purpose without CEDEX’s prior written consent;
(m) create a browser or border environment around the Platform Content (no frames or inline linking is allowed);
(n) sell, license, or exploit for any commercial purposes any use of or access to the Platform and/or the Platform Content and/or to any account thereof;
(o) frame or mirror any part of the Platform and/or the Platform Content without CEDEX’s prior express written authorization;
(p) create a database by systematically downloading and storing all or any of the Platform Content from the Platform;
(q) transmit or otherwise make available in connection with the Platform any virus, worm, Trojan Horse, time bomb, web bug, spyware, or any other computer code, file, or program that may or is intended to damage or hijack the operation of any hardware, software, or telecommunications equipment, or any other actually or potentially harmful, disruptive, or invasive code or component;
(r) use the Platform for any purpose for which the Platform is not intended.
(s) manipulate or use manipulative devices when using the Platform.
Failure to comply with any of the provisions set forth herein may result (at CEDEX’s sole discretion) in the termination, suspension or restriction of the use of the Platform and/or the User CEDEX Account, permanently or temorarily and may also expose you to civil and/or criminal liability.
CEDEX may, at its sole discretion, change any and all Rules of this Rulebook from time to time, including any other policies incorporated thereto. In case of any material change, CEDEX will make reasonable efforts to post a clear notice on the Site and/or Platform regarding such a change or by any other means of communication CEDEX determines in its sole discretion. Otherwise, all other changes to this Rulebook are effective as of the stated “Last Revised” date and your continued use of the Platform on or after the Last Revised date will constitute acceptance of, and agreement to be bound by, those changes. In the event that the Rulebook should be amended to comply with any legal requirements, the amendments may take effect immediately, or as required by any Applicable Laws and without any prior notice.
16.1 You agree to defend, indemnify and hold harmless CEDEX, including CEDEX employees and representatives from and against any and all claims, damages, obligations, losses, liabilities, costs, debts, and expenses (including but not limited to attorney’s fees) arising from: (i) your use, misuse of, inability to use and/or activities in connection with the Platform, the Platform Services, CEDEX Coins and/or the Platform Content; (ii) your violation of any of the Rules or any Applicable Laws; (iii) your violation of any third party rights, including without limitation any intellectual property rights or privacy right of such third party, in connection with your use of the Platform, the Platform Services, CEDEX Coins and/or the Platform Content; and (iv) any damage of any sort, whether direct, indirect, special or consequential, you may cause to any third party with relation to the Platform; (v) your violation of any local and or international laws, regulations, authorities investigations/information requests, false information and declarations.
16.2 It is hereby clarified that this defense and indemnification obligation will survive this Rulebook.
16.3 Without derogating from the foregoing, CEDEX reserves the right to assume the exclusive defense and control of any matter which is subject to indemnification by you, which will not excuse your indemnity obligations hereunder and in which event you will fully cooperate with CEDEX in asserting any available defense. You agree not to settle any matter subject to an indemnification by you without first obtaining CEDEX’s prior express written approval.
CEDEX reserves the right to cease, immediately and without notice, the operation of the Platform, CEDEX Coins, CEDEX Services, as a whole or in part, and any other related service arising out of, or in connection with them, in case of a changes in any Applicable Laws so as to affect their legality.
CEDEX may suspend the trading and the operation of the Platform or any other related service at any time if it is required to do so by Applicable Laws or if requested to do so by a Governmental Authority.
Additionally, CEDEX may at any time, at its sole discretion, cease the operation of the Platform and/or the Platform Services and/or CEDEX Coins or any part thereof, temporarily or permanently, delete any information or Platform Content from the Platform or correct, modify, amend, enhance, improve and make any other changes thereto or discontinue displaying or providing any information, content or features therein without giving any prior notice. You agree and acknowledge that CEDEX does not assume any responsibility with respect to, or in connection with the termination of the Platform Services and/or CEDEX Coins and/or the Platform operation and/or the loss of any data thereof.
Each User is fully and solely responsible for making reports to the relevant local authorities and paying any applicable taxes on Transactions, ownership of diamonds, cryptocurrencies, etc. as required by Applicable Laws.
This Rulebook does not cover any such rules regarding taxes and its reporting. All requirements arising out of tax responsibilities, reporting and so forth will be solely under the User responsibility and CEDEX will have no duties and/or responsibilities in this aspect.
20.1 Material Disruption means any and all of the below:
(a) any disruption, breakdown, bug or malfunction of any system used in connection with the Platform and its related services;
(b) any attempt to manipulate Users, prices, or commit any other abuse, in relation to CEDEX services, CEDEX Coins, the Platform, prices or any other related matter;
(c) any failure by a third party to supply services or perform obligations that are required for the proper operation of the Platform and/or Platform Services;
(d) any suspension or termination of services by any third party (including, but not limited to banks, suppliers, any settlement system used in connection with the Platform and the services thereof that is required for the proper operation of the Platform and/or Platform Services and/or for the settlement of Transactions;
(e) when a User becomes subject to any bankruptcy or insolvency proceeding under applicable law;
(f) a material change in any Applicable Laws;
(g) Circuit Breaker event;
(h) any emergency or extraordinary market conditions or circumstances; or
(i) any Force Majeure Event.
20.2 Where there is Material Disruption to the Platform and/or to CEDEX Services, CEDEX may take such steps as it deems necessary to restore the proper operation of, and the orderly conduct of business on the Platform including:
(a) terminating or suspending trading or any other services thereof, in whole or in part, including the operation of the Platform;
(b) placing restrictions on trading or on certain Users;
(c) cancelling some or all Transactions formed during the Material Disruption; and/or
(d) determining any price adjustment to be paid in respect of Transactions formed during the Material Disruption.
20.3 CEDEX, in its sole discretion, will determine which of the above measure/s to be taken in a Material Disruption and the User will have no claim against such a determination. In addition, all expenses (including Listing Fees, shipping expenses, custodian fees, exchange rates differences, etc.) incurred from such a Material Disruption event will be borne by the Users respectively (each party will be borne the related expenses incurring from either termination, cancellation or otherwise of the Transaction respectively).
20.4 It is further clarified, that unless CEDEX and/or CEDEX’s employees acted with malicious or with gross negligent and caused the Material Disruption circumstances, CEDEX will not be held responsible and will not borne any expenses and or losses incurred from such an event, and the Users will have no claim against CEDEX.
CEDEX may, in its sole discretion, suspend trading, execution of Transactions or any other activity on the Platform or impose a temporary suspension or a halt for a particular User, a Diamond or as a whole when there is a material movement in the Diamonds’ prices to either direction, as such term will be defined by CEDEX in its sole discretion. In such a case, CEDEX will activate its Circuit Breaker procedure and act upon it. Any Transactions executed before and during the activation of a Circuit Breaker, may be cancelled or revoked as CEDEX will determined taking into account the relevant factors.
Users must (save to the extent that such disclosure is prohibited by any Applicable Laws) respond promptly to all CEDEX’s inquiries and requests for information in connection with (i) the User; (ii) its use of the Platform and/or the Platform Services and/or User CEDEX Account; and (iii) orders and Transactions, and provide such information in English within a reasonable time and in such a manner or format as CEDEX may request.
All costs and fees for producing such requested information will be borne by the User.
23.1 Subject to Applicable Laws, CEDEX may:
(a) report to any Governmental Authority any Material Disruptions, any material breaches of these Rules or any other Applicable Laws, disorderly trading conditions and conduct that may involve abuse as determined by CEDEX sole discretion; and
(b) assist any Governmental Authority in any investigation of such activities.
23.2 CEDEX may disclose information and documents received from any User in connection with its use of the Platform and/or CEDEX Coins and/or the Platform Services to any Governmental Authority where such information and documents are required in connection with an investigation, inquiry or proceedings by such authority or when CEDEX determines in light of Rule 16.1 above. If permitted and necessary by Applicable Laws, CEDEX shall give the affected User at least 7 days written notice (by mail or by email to the email address registered on the Site) of the intended disclosure. If permitted by Applicable Laws, the User shall cooperate with CEDEX and any Governmental Authority in any investigation or inquiry in relation to CEDEX.
CEDEX may, at its own cost, initiate and carry out an investigation into any matter that may constitute a breach of this Rulebook or of any services available on the Platform. Any User affected by such investigation must cooperate fully and in a timely manner with CEDEX and CEDEX employees carrying out the such investigation. On completing an investigation under this Rule, CEDEX employees carrying out the investigation may:
(a) do nothing;
(b) issue a written warning; or
(c) suspends or terminates the User access to the Platform and/or the User CEDEX Account and/or to User’s CEDEX Coins and/or DDC.
Users can contact CEDEX by email support@CEDEX.com.
Both the User and CEDEX (each a party to this Rulebook) undertake in respect of Confidential Information of which it is the recipient:
(a) to treat such information as confidential;
(b) not, without the Disclosing Party’s prior written consent, which is not to be unreasonably withheld, communicate or disclose any part of such information to any person except to:
(i) those of its representatives, any Delivery Service Provider and others on a need-to-know basis who are directly involved in using or providing or facilitating the provision or use of the Platform Services; or
(ii) the recipient’s auditors, professional advisors and any other persons or bodies having a legal right or duty to have access to, or knowledge of, the Confidential Information in connection with the business of the recipient;
(c) to ensure that all recipients mentioned in paragraph (b)(i) above are made aware, prior to disclosure, of the confidential nature of the Confidential Information and that they owe a duty of confidence to the Disclosing Party and to ensure that such recipients comply with this Rule 26; and
(d) not to use or circulate such information within its own organization except to the extent necessary for the purposes of, and in compliance with, the restrictions in this Rule.
Exceptions. The obligations in Rule 26 will not apply to any Confidential Information which is:
(a) in the recipient’s possession (with full right to disclose) before receiving it;
(b) becomes public knowledge other than by breach of this Rule 26;
(c) independently developed by the recipient without access to or use of the Confidential Information;
(d) lawfully received from a third party (with full right to disclose); or
(e) data which has to be disclosed to regulators under Applicable Laws.
27.1 In respect of any Relevant Personal Data that is transferred from the Disclosing Party to the Recipient Party in connection with the provision and/or the Platform and/or receipt of CEDEX Services:
(a) each User and CEDEX agrees that the Disclosing Party and the Recipient Party shall each be a “controller” (as defined in the General Data Protection Regulation); and
(b) the terms of this Rule 26 shall apply.
27.2 In respect of its processing of any Relevant Personal Data, CEDEX and the User will comply at all times with the Data Protection Legislation at their own expense.
27.3 In respect of its processing of the Relevant Personal Data, the Recipient Party warrants, represents and undertakes that it will:
(a) provide Data Subjects (as defined in Data Protection Legislation) with all the information, in a concise, transparent, easy to understand format using clear and plain English, required under the Data Protection Legislation to ensure that the Data Subjects understand how their personal data will be processed by the Receiving Party;
(b) take all appropriate technical and organizational measures against unauthorized or unlawful processing of the Relevant Personal Data and against accidental loss or destruction of, or damage to the Relevant Personal Data, including (without limitation) by:
(i) taking reasonable steps to ensure the reliability of any employee who have access to the Relevant Personal Data;
(ii) ensuring a level of security appropriate to the nature of the Relevant Personal Data and the risks that are presented by its processing;
(iii) where appropriate and reasonably practicable, the encryption and the pseudonymization of the Relevant Personal Data; and
(iv) implementing a process for periodically testing, assessing and evaluating the effectiveness of technical and organizational measures for ensuring the security of the processing of the Relevant Personal Data;
(c) in the event of a breach of security or confidentiality of the Relevant Personal Data, immediately notify the Disclosing Party (providing all such details as the Disclosing Party may reasonably request);
(d) promptly notify the Disclosing Party of the receipt of any request, notice or other communication from any Data Subject or regulatory body relating to the Relevant Personal Data, to the extent the Applicable Law permits;
(e) provide the Disclosing Party with reasonable cooperation and assistance in connection with: CEDEX, the Platform and/or the Platform Services and/or CEDEX Coins.
(i) its compliance with Data Protection Legislation in relation to the Relevant Personal Data;
(ii) any request or other communication made in relation to Data Subject rights (including a request made in respect of the Data Subject’s right of access and data portability, right to object, right to be provided with fair processing information and his/her rights to rectification and erasure of their Personal Data within the statutory response periods); and
(iii) any notice or other communication received from a regulatory body in connection with the processing of the Relevant Personal Data or the Disclosing Party’s compliance with the Data Protection Legislation;
(f) ensure that only those persons that need to have access to the Relevant Personal Data are given access to the extent reasonably necessary and that such persons are subject to appropriate confidentiality obligations; and
(g) ensure that any third party to whom it publishes, discloses or divulges any of the Relevant Personal Data is:
(i) subject to appropriate confidentiality and data security obligations; and
(ii) required to comply with Data Protection Law in respect of its processing of the Relevant Personal Data.
The Recipient Party warrants, represents and undertakes that it is not aware of the existence of any local laws that would have a substantial adverse effect on its ability to comply with the requirements of this Rule 27, and it will promptly inform the Disclosing Party if it becomes aware of any such laws.
These Rules, all Transactions, Platform Services, trading activity on the Platform, the Platform, CEDEX Coins and other related issue (including any non-contractual obligations arising out of, or in connection with them) are governed by, and are to be interpreted in accordance with, the laws of England and Wales and the English courts shall have exclusive jurisdiction to settle any such issue.
1. Listing fee 6% of diamond cost VAT included.
2. Trading fee 0.8% from both sides VAT included.
3. Custodian fee $10+0.2% + VAT of the diamond value (last match) per month, charged from the diamond owner.
4. Delisting fee, 9% + VAT, charged from the diamond owner.
* CEDEX will update, from time to time, the fees specified above in its sole discretion