Terms and Conditions for the Use global

General Terms and Conditions for the Use of the PLCFarm


Sec.  1 Area of applicability

(1)   Platin Genesis Asia Limited, Unit2512, 25/F, Langham Place Office Tower, 8 Argyle Street, Mongkok, Hong Kong, business address the same, email address support@platin-genesis.com (hereinafter: Platin Genesis) is  an innovative technology undertakingdistributing diverse products with specialization in block chain technology.

(2)  Platin Genesis provides its services exclusively on the basis of this GTC, which are at any time available on the website of PlatinGenesis.

(3)  With regard to the subject matter of the contract defined in Sec. 2, these GTC have priority over other contractual regulations between customers and Platin Genesis. However, the Terms of Use, which the customer has already accepted upon registration at Platin Genesis as a component of the contract also apply in addition to these GTC.


Sec.  2 Subject matter of the agreement, installation of the PLC Wallet

(1)  PlatinGenesis grants the customer the option to use the software “PLC Farm”(hereinafter: PLC Farm), which the customer can access from the browser of its computer. The customer in combination with the Wallet App offered by PlatinGenesis (which the user must install on its mobile terminal device, e.g.smartphone) has the option of generating the cryptocurrency PlatinCoin with PLCFarm. Each PLC Farm is assigned a unique PLC user address, a minting address, as well as a clear certificate. After completion of the payment process, the customer must install PLC Wallet by Platin Genesis (currently available on theApp Store and Google Play Store), create a valid PLC Wallet address, and link this to the PLC Farm. With the assistance of linking software and infrastructure, new PlatinCoins are generated for the customer in the PlatinCoinblock chain through so-called minting.

(2)  Prerequisite for generating PlatinCoins is that—depending on the chosen PLC Farm—a specific number of PlatinCoins is located in the minting wallet of the Wallet App linked to the PLC Farm. This wallet or this app must be installed by the customer after purchase of PLC Farm, linked to PLC Farm, and the necessary PlatinCoinsmust be transferred to the wallet; the customer must itself introduce these PlatinCoins.The number of the PlatinCoins to be introduced in the wallet is limited depending on the PLC Farm (so-called max PLC deposit). By removing the PlatinCoinsfrom its minting wallet, the customer may suspend the generating process for PlatinCoinsfor a period of 30 days.  

(3)   The customer can transfer the PlatinCoins generated by the PLC Farm at any time from its minting wallet to its virtual wallet (so-called Main Wallet). The PlatinCoinsavailable in the Main Wallet is then available for the customer’s free disposal and are fully transferred to the exclusive ownership of the customer.

(4)   The term of the minting process is limited to a maximum of 10 years as of the acquisition of the PLC Farm. Thereafter, the minting wallet including the PlatinCoins located thereon remains with the customer; the minting function, however, is deactivated.

(5)  The customer’s access to the Internet is not a subject matter of the contractual relationship. The customer bears sole responsibility for the functionality of its Internet access including transmission channels as well as its own computer and its own mobile terminal device (e.g. smartphone).

(6)  PlatinGenesis transmits to the customer the access information necessary for use of the PLC Farm for identification and authentication. The customer is not permitted to hand such access data over to third parties.


(7)  Platin Genesis is authorized to modify and adjust the services of the PLC Farm, in particular in case of technological developments.


Sec.  3 Conclusion of contract; contract term;termination

(1)  The presentation of PLC Farm on the Internet platform is not yet a binding offer by Platin Genesis.

(2)  After the customer has registered with Platin Genesis and has logged into its account, the customer may conclude a contract for use of the PLC Farm software by selecting one of the offered PLC farms and placing such in the shopping basket. The customer can empty the shopping basket at any time by changing the number of PLC farms or by ending the order process by closing the browser window. The changes can be performed through a mouse and a keyboard. By clicking on the button “PROCEED TO CHECKOUT“, the customer is forwarded to a page where it can choose the payment type for the conclusion of the contract. This GTC, the risk warning, and the privacy notice are then displayed to the customer, which the customer can read and the acknowledgment of which the customer must confirm by placing a corresponding active checkmark. In the event that the customer here wishes to once again modify its order, the customer can do this at any time in the order field. If the order does not require any changes, then the order process can be completed by clicking on the button “ORDER SUBJECT TO CHARGE” and transmitting the request for the conclusion of a binding chargeable agreement. Receipt of the order is displayed to the customer immediately after completion of the order process. Platin Genesis stores the customer order and entered order datapursuant to the privacy notice.

(3)  The customer is informed of the receipt of its order in a dashboard. This order confirmation also constitutes acceptance of the contract by Platin Genesis.

(4)  The term for the use of the PLC Farm follows from the respective product description of the PLC Farm.

(5)  Platin Genesis requires verification of age as well as verification of identity within the scope of KYC processes prior to concluding a contract for the use of the PLC Farm. The conclusion of a contract depends on successful verification within the scope of this KYC process.

(6)  Both parties are authorized to extraordinary termination of the contract without notice for good cause. Extraordinary cause for termination applies in particular if the customer despite notification and warning violates these GTC and/or continues to use the PLC Minter unlawfully or contrary to the contract. Platin Genesis is also entitled to an extraordinary termination if the customer violates third-party protective rights or applicable law in the use of the PLC Minter. Extraordinary termination must be in writing or by email to support@platin-genesis.com.


Sec.  4 Payment terms

(1)  Payment options are available and explained on the website www.platincoin.com.

(2)   All prices are total prices including statutory sales tax.


Sec.  5 Obligations of the customer

The customer shall meet the duties and obligations incumbent upon it for the provision of services and processing of this contract. The customer shall in particular:


a)     not use the PLC Farm unlawfully or in any other abusive manner or allow such. If the customer recognizes or is obligated to recognize that a violation of applicable law is imminent or if an official or judicial proceeding is initiated, the customer is obligated to immediately report such to Platin Genesis;

b)     cease and desist from itself attempting or having unauthorized third parties attempt to retrieve information or data without authorization or to interfere or have unauthorized third parties attempt to interfere with programs operated by Platin Genesis or to access the server farms of Platin Genesis without authorization or to otherwise harm or manipulate such. From a technical aspect, the customer is obligated to refrain from the following actions:

·       Exploitingerrors in programming (so-called bugs);

·       taking measures leading to an excessive burden on servers or server farms;

·       hacking or cracking as well as promoting or instigating hacking or cracking;

·       distributing counterfeit software and promoting or instigating the distribution of counterfeit software;

·       uploading files containing viruses, trojans, worms, or corrupted data;

·       using or distributing auto software programs, macro software programs, or other cheat utility software programs;

·       modifying the service or parts thereof;

·       using software allowing so-called data mining for retrieving or collecting information associated with the Internet service in any other way;

·       interrupting transmissions from and to the service servers and the website servers;

·       accessing the service servers or website servers;


c)    touse the PLC Farm only from a newer generation smartphone; otherwise, PlatinGenesis is not obligated to guarantee that the services of the PLC Farm will be provided full.


Sec.  6 Server capacities

The servers of Platin Genesis are continuously operational 24 hours, 7 days a week, with an annual average availability of90%. Excluded herefrom are downtimes caused by maintenance and software updates as well as periods during which the service cannot be reached on the Internet due to technical or other problems that are not within the scope of responsibility of Platin Genesis (force majeure, fault of third parties, etc.).


Sec.  7 Cancellation information for consumers

Cancellation right

You have the right to cancel this contract within 14 days without stating reasons.

The cancellation period is 14days as of the date of the conclusion of the contract.

To exercise your cancellation right you must inform us, Platin Genesis Asia Limited, Unit 2512, 25/F, Langham Place OfficeTower, 8 Argyle Street, Mongkok, Hong Kong, email: support@platin-genesis.com, with a clear declaration (e.g. a letter dispatched by postal mail, fax, or email) of your decision to cancel this contract. You may use the enclosed sample cancellation form, which however is not mandatory.

Dispatching the notification regarding your exercise of the cancellation right prior to the expiration of the cancellation period suffices for compliance with the cancellation period.

Consequences of cancellation

If you cancel this contract, then we are obligated to repay to you all payments which we received from you, including delivery costs (excluding additional costs arising from you choosing a different type of delivery than the most economical standard delivery offered by us) immediately and no later than within 14 days as of the date on which the notification regarding your cancellation of this contract was received by us. For such repayment we shall use the same means of payment used by you in the original transaction unless something else was expressly agreed with you; we will not charge any fees to you for repayment.

In the event that you have requested that the service commences during the cancellation period, then you are obligated to pay us a reasonable amount that corresponds to the proportion of the services already provided at the time at which you inform us of your exercise of the cancellation right with regard to this contract over the total scope of the services provided for in the contract.

Sample cancellation form

(If you wish to cancel the contract, please fill in this form and return it to us.)

- To  Platin Genesis Asia Limited, Unit2512, 25/F, Langham Place Office Tower, 8 Argyle Street, Mongkok, Hong Kong, email:support@platin-genesis.com:

- I/we (*) herewith revoke the concluded contract regarding the purchase of the following goods(*)/theprovision of the following service (*)

- Ordered on (*) / received on (*)

- Name of the consumer(s)

- Address of the consumer(s)

- Platin Genesis reference link of the consumer(s)

- The email address of the consumer(s)registered with Platin Genesis

- Platin Genesis Order number of the order process of the consumer(s)

- Signature of the consumer(s)(only in case of hardcopy notification)

- Date

(*) Delete as applicable

Sec.  8 Voluntary right of return

(1)   Regardless of the statutory cancellation right (cf. in this regard Sec.  7 of these GTC), to which all customers that are consumers are entitled, Platin Genesis grants to its customers after expiration of the cancellation period a voluntary right to return as defined in the following paragraphs; the voluntary right of return does not affect the statutory cancellation right.

(2)   Platin Genesis shall reimburse the customer the full amount of the fee for the use of the PLC Farm if the customer has not yet activated its PLC Minter by adding PlatinCoins to itsPLC Wallet and no more than 3 years have passed since the conclusion of the contract for the PLC Minter.

(3)   Platin Genesis reimburses to the customer the fee for the use of the PLC Farm minus the PlatinCoins generated until the time of assertion of the voluntary right to return if the customer has already activated its PLC Farm by adding PlatinCoins to its PLC Wallet and no more than 3 years have expired since conclusion of the contract for the PLCFarm. In the event that the customer is entitled to commission claims for the brokerage of PLC Farms, then all commission claims incurred up until the time of assertion of the voluntary right to return are also deducted from the fee of the PLC Farm and the remaining amount is returned to the customer.

(4)   In the event that the customer wishes to assert the voluntary right to return, the customer can inform PlatinGenesis of this without stating reasons in text form (by letter or email). After review and confirmation of an existing right to return by Platin Genesis,the customer is obligated to immediately empty its PLC Wallet and PlatinGenesis will block the customer’s access to the PLC Farm or the PLC Wallet.

Sec.  9 Liability for defects; liability limitation

(1)  The customer is entitled to statutory warranty rights. Statutory provisions apply to the liability for defects unless something else arises from the following liability limitations with regard to compensation for damages.

(2)  With the exception of the violation of life and limb and violation of essential contractual obligations, Platin Genesis is liable only for damages based on willful or grossly negligent conduct. This applies also to indirect consequential damages and in particular lost profit.

(3)  With the exception of willful or grossly negligent conduct or damages arising from the violation of life and limb and violation of essential contractual obligations, the liability amount is limited to the damages typical for such type of contract foreseeable upon conclusion of the contract. The same also applies to indirect consequential damages and in particular lost profit.

(4)   The liability limitation of paragraphs 2 and 3 also applies to the benefit of vicarious agents of Platin Genesis.

(5)   A liability on the basis of the Product Liability Act remains unaffected.


Sec.  10 Data protection

Platin Genesis collects and uses the data voluntarily transmitted by customers only within the scope of statutory provisions. The detailed provisions regarding data protection are available in our privacy policy.


Sec.  11 Dispute resolution information

(1)  The European Commission provides a platform for extrajudicial online dispute resolution (ODR platform), available at http://ec.europa.eu/consumers/odr.

(2)  Platin Genesis always aims at amicably resolving possible differences of opinions from the contractual relationship. Platin Genesis, however, does not participate in a proceeding before a federally recognized consumer arbitration board. Legal action is possible at any time.


Sec.  12 Applicable law and jurisdiction

(1)  The contractual relationship between Platin Genesis and the customer is subject to the law of the domicile of Platin Genesis. Compulsory provisions of the state in which the customer’s habitual residence or domicile is located remain unaffected.

(2)  Jurisdiction for all disputes arising from the present contractual relationship is the domicile of Platin Genesis. Compulsory provisions of the state in which the customer’s habitual residence or domicile is located remain unaffected.


Sec.  13 Closing provisions

(1)  This GTC, the risk warning, and the privacy policy represent the complete agreement between the customer and Platin Genesis.

(2)  Modifications or amendments of these GTC require the written form. This also applies to the cancellation of the written form requirement.

(3)  Possible invalidity or incompleteness of a clause of these GTC does not void the agreement overall. Rather, the invalid clause is to be replaced with a clause that is valid and comes as close as possible to the economic intent of the invalid clause. The same applies in the event of gaps requiring regulation.



Status of the GTC: 27 November 2019