LEGAL

TERMS & CONDITIONS

IMPORTANT: Pre-sale token won’t be tradable during the presale. The LBSC pre-sale token holder is NOT allowed to trade in any exchange platform, neither transfer his/her ownership to a third party. 

IMPORTANT: Pre-sale token which have not been converted to LBSC Coin during the ICO will be burned by LabelsCoin Establishment.

LBSC will comply with the ERC-20 standards and will be freely transferable on the Ethereum platform.

IMPORTANT: LBSC pre-sale token /LBSC coin do not indicate ownership of the company, LBSC does not pay dividends, LBSC holders will not earn any direct interest. LBSC token is not considered as security in any jurisdiction.

IMPORTANT: Please note that the purchases of LBSC  Pre-sale Token and LBSC COIN are final and non refundable.

IMPORTANT: LIMITATION OF THE PURCHASERS

You are not eligible to and shall not purchase LBSC pre-sale token, coin through its token sale if you are a citizen or resident (tax or otherwise) of any country or state where the purchase of LBSC or similar Crypto and Token may be prohibited, or the token sale is deemed to be not compliant with the applicable laws and regulations. 

In particular, if you are a resident of People’s Republic of China, North Korea, Iran, Afghanistan, Syria, USA,  you cannot purchase LBSC through the token sale.

IMPORTANT:Purchases of LBSC should be undertaken only by individuals, entities, or companies that have significant experience with, and understanding of, the usage and intricacies of Crypto Tokens and blockchain based software systems.

Purchasers should have functional understanding of storage and transmission mechanisms associated with other Crypto and Tokens. Any entities of LABELSCOIN and officers and employees thereof will not be responsible in any way for loss of any Crypto and Token, LBSC or any currency resulting from actions taken by, or omissions of the purchasers. If you do not have the required experience or expertise, then you should not purchase LBSC or participate in the sale of LBSC.

You should carefully consider the risks, costs, and any other demerits of acquiring LBSC, and, if necessary, obtain your own independent advice in this regard. If you are not in the position to accept nor to understand the risks associated with the token sale of LBSC (including the risks related to the development of LABELS PLATFORM) or any other risks as indicated in this whitepaper, you should not acquire LBSC, until such that you have received the necessary independent advice.

IMPORTANT: The purchase of LBSC pre-sale token /coin, shall be governed by the substantive law of the Principality of Liechtenstein. The parties submit to the exclusive  jurisdiction of the Principality of Liechtenstein for the resolution of any disputes that may arise out during the acquisition process and after the purchase.

IMPORTANT: RISKS

The purchase of LBSC carries with it significant risk. Prior to purchasing LBSC, the purchaser should carefully consider the risks listed below and, to the extent necessary, consult a lawyer, accountant, and/or tax professional prior to determining whether to purchase LBSC.

  1. LBSC will be stored in a wallet, which can only be accessed with a password selected by the purchaser. If a purchaser of LBSC does not maintain an accurate record of their password, this may lead to the loss of LBSC. If your password protection is weak and it is cracked or learned by somebody else, this may also lead to the loss of LBSC. As a result, purchasers must safely store their password in one or more backup locations that are well separated from the primary location.
  2. The purchaser recognizes that some of the services under the LABELS PLATFORM is currently under development and may undergo significant changes before release. The purchaser acknowledges that any of its expectations regarding the form and functionality of the LABELS PLATFORM may not be met for any number of reasons.
  3. The purchaser understands that while LABELSCOIN will make best efforts to release the LABELS PLATFORM on time, it is possible that the official release may be delayed.
  4. As with other Crypto and Tokens, the value of LBSC may fluctuate significantly and become reduced in value for any number of reasons, including but not limited to, supply and demand, overall Crypto and Tokens’ market conditions, political or geographical reasons, changes of regulations in any jurisdictions, and technical reasons.
  5. Pre-sale Token and LBSC Token will be issued on the Ethereum blockchain. As such, any malfunction or unexpected functioning or the Ethereum protocol may impact the purchaser’s ability to transfer or securely hold pre-sale Token or LBSC Token. Such impact could adversely affect the value of LBSC Token.

IMPORTANT: To the maximum extent permitted by the applicable laws, regulations and rules, LBSC, any entities of LABELSCOIN and officers and employees thereof shall not be liable for any indirect, special, incidental, consequential or other losses of any kind, in tort, contract or otherwise (including but not limited to loss of revenue, income or profits, and loss of use or data), arising out of or in connection with any acceptance of or reliance on this legal      terms and conditions or any part thereof by you.

Any entities of LABELSCOIN and officers and employees thereof shall not be liable for your loss of LBSC after it is transferred to you by any reason including but not limited to your failure to maintain or backup an accurate record of your password or password cracking by somebody due to your poor maintenance of your password.

LABELSCOIN will do its best to launch its operations and develop LABELS PLATFORM. Any person undertaking to acquire LBSC acknowledges and understands however that LABELSCOIN does not provide with any warranty as to the release of the LABELS PLATFORM. They acknowledge and understand therefore that LABELSCOIN (incl. Its bodies and employees) assumes no liability or responsibility for any loss or damage that would result from or relate to the incapacity to use the pre-sale Token and LBSC Token and Coin.