Terms and Conditions

Xaurum Gamma - General Terms and Conditions

By: JK Group Ltd.

Version: 1.0 - FINAL

Date: July 29, 2017


Xaurum Gamma – General Terms and Conditions

Introductory Provisions and Definition of Terms

Article 1

These general Terms and Conditions (hereinafter referred to as Terms) apply to the terms of use of the Xaurum Gamma Token – XGM (hereinafter referred to as Token) and the Gamma Project (hereinafter referred to as Project).

The provider of the Token is XAURUM GAMMA Trust reg., with the following data:

  • registered office and business address: c/o CONSIDA Trust reg., Im Malarsch 4, 9494 Schaan, Liechtenstein;
  • registration number: FL-0002.398.435-4;
  • contact e-mail address:;

(hereinafter referred to as: Token Provider).

The number of Tokens on offer during the ICO and the Pre-ICO shall be 54800 (hereinafter referred to as Supply). Unless explicitly stipulated to the contrary in these Terms, the Tokens may be paid for with Euros (EUR), Ethereum coins (ETH) or Bitcoins (BTC).

The purpose of the ICO is for the Token Provider to collect the Funds to purchase all (100%) of the shares in Project Provider, and to finance, through Project Provider, the subsequent development of the Project, i.e. building of additional villas and the infrastructure.

The provider of the Project is Gama gradnje d.o.o., with the following data:

  • registered office and business address: Sveti Petar 36, Ièiæi (Grad Opatija), Croatia;
  • registration number: 040376058;
  • tax ID number: 63672790276;

(hereinafter referred to as: Project Provider). A detailed description of the Project can be accessed on the website, which shall form an integral part of these Terms.

Xaurum is a cryptocurrency (crypto-coin) as defined on the website and (hereinafter referred to as Xaurum). Token Provider and Project Provider assume no responsibility or warranty for its existence, operations or price changes.

A user is a legal or natural person who has registered on the website (hereinafter referred to as Website) and accepted these Terms as part of the registration process (hereinafter referred to as User).

A buyer is a User who has acquired (purchased) and is in possession of any number of Tokens (hereinafter referred to as Buyer).

By accepting these Terms, and provided that other conditions set forth hereunder have been met, the Buyer enters into a binding contract with the Token Provider. The Buyer shall receive an invoice from the Token Provider for the purchased Tokens.

The capitalized terms shall have the meaning ascribed to them in these Terms.

Acquisition of Tokens – ICO and pre-ICO, failed ICO

!Warning: citizens of the United States may under no circumstances participate in the pre-ICO or ICO!

Article 2

The aim of the ICO is for the Token Provider to collect 5,480.000,00 EUR (5 million, four hundred eighty thousand Euros) to fund the Project (hereinafter referred to as Investment). The Investment shall only be used to fund the Project.

The ICO price of Tokens shall be calculated based on the Supply and the Investment and shall amount to 5,480.000,00 EUR. The ICO price of Tokens shall also be stated in Ethereum coins (ETH) and Bitcoins (BTC) on the Website, based on the respective exchange rate.

The Buyers shall be able to acquire the Tokens through the process of Initial Coin Offering (hereinafter referred to as ICO), as described in details hereunder:

  • after having registered on the Website the User shall send the documents and data needed for identification and requested by the Token Provider;
  • the User shall then be able to place their order for the acquisition of Tokens on the Website, stating the desired number of Tokens;
  • the Token Provider, after having checked and confirmed the identity of the User, shall send to User the offer for the acquisition of Tokens, stating:
    • the number of Tokens;
    • the price (and the currency) to be paid for the Tokens;
    • the period of validity of the offer (hereinafter referred to as Deadline);
    • the data for transmission of the money or coins to be paid for the Tokens (hereinafter referred to as Funds);
  • provided that by the Deadline the Funds have been received by the Service Provider, following the ICO-End, the Token Provider shall inform the User of the number of acquired Tokens; if by the Deadline the Token Provider received only a portion of the Funds from the User, such User shall only be able to acquire a corresponding portion of the number of desired Tokens
  • the User Buyer shall, upon Token Provider’s notice, inform the Token Provider of their Ethereum wallet address, which must not be an address located at the coin exchange;
  • the Token Provider shall transmit the acquired Tokens to the Ethereum wallet address, provided by the Buyer. Should the Funds exceed the number of available Tokens (due to high demand between sending the offer for the acquisition of Tokens and the Deadline, or for any other reason), the Token Provider shall return the portion of the Funds not used for the purchase of Tokens. The return shall be carried out in accordance with the provisions for the Failed ICO set out hereunder.

The Users failing to perform any of the steps from the preceding Paragraph, shall be denied the acquisition of Tokens.

The Tokens shall be allocated to the Users on a first-come-first-served basis, based on the Deadline, and provided that the Funds have been received by the Token Provider by the Deadline.

The Users failing to transmit, by the Deadline, the Funds to be paid for the Tokens to the Token Provider, shall be denied the acquisition of Tokens and their offer shall be deemed void and without any effect. For the avoidance of doubt, the Funds must be received by the Token Provider by the Deadline, so the Users should check the procedures in place for the transmission of Funds and act accordingly. From any Funds received by the Token Provider after the Deadline, the reasonable costs relating to the transfer incurred by the Token Provider shall be deducted, and the rest of the Funds shall be transferred back to the User.

The Users have been warned and acknowledge that providing the Token Provider with a Ethereum wallet address located at the coin exchange, shall result in the irreversible loss of all Tokens, which the Token Provider shall be unable to replenish. In such case, the Token Provider assumes no responsibility for the loss of Tokens or the damage or other consequences thereof.

The ICO shall commence July 31, 2017, at 16.00 hours, Central European Time (CET).

Prior to the ICO the Token Provider shall offer to certain persons of his choice the right to acquire the Tokens (hereinafter referred to as Pre-ICO). The Pre-ICO shall commence on June 10, 2017, at 12.00 hours, CET and last until the ICO starts. The number of Tokens for acquisition during the ICO shall amount to Supply minus the number of Tokens having been acquired during the ICO.

The ICO shall last until September 31, 2017, 24.00 hours CET, or until all of the Supply has been acquired by the Buyers, whichever happens first (hereinafter referred to as ICO-End).

Subject to explicit provisions to the contrary hereunder, there shall be no limitation of the number of Tokens a single Buyer can acquire during the ICO or the pre-ICO.

Should the Token Provider be unable to allocate the Supply by September 2, 2017, due to lack of Funds received by the Users, thereby failing to collect the Investment, the ICO shall be deemed to have failed (hereinafter referred to as Failed ICO). In such case, the Token Provider shall have full discretion to either:

  • decide to fund the project in the amount lesser than the Investment, and to allocate the number of Tokens smaller than the Supply between the Buyers; OR
  • decide to not fund the project and to return (transfer) to the Users who have transferred the Funds, the value of their Funds; the value of the Funds shall be returned, based on User’s choice, or – if no choice has been made – based on Token Provider’s sole discretion:
    • in Xaurum coins, calculated based on the production price of Xaurum coins on the day of the ICO-End.
    • in BTC, ETH or EUR, calculated based on the exchange rate on the day of the ICO-End.

All costs of the return of the value of the Funds shall be borne by the User and the Token Provider may deduct any such costs from the value to be returned.

Token-Related Rights

Article 3

The Buyers shall be able to sell and buy the Tokens on coin exchange(s).

The Buyers shall have to right to melt the Tokens in exchange for rental and other services (hereinafter referred to as Services) to be rendered by the Project Provider after the completion of the Project, according to the Services price list. After melting, the Token(s) shall irreversibly cease to exist.

The Buyers shall be entitled to a share of profit of the Project, according to the following rules:

  • the net profit of the Project (hereinafter referred to as Profit) shall be divided so that:
    • 50% of the Profit shall be reinvested into the Project;
    • 50 % of the Profit shall be divided between the existing Tokens, on a monthly basis (hereinafter referred to as Shared Profit);
  • the Token holder shall have the right, at any time, to melt the (accrued) portion of Shared Profit into Xaurum coins or ownership of real estate in the Project, in accordance with the rules set out on the Website under “Details”.


Rights of the Token Provider

Article 4

The Token Provider may at any time issue and offer for acquisition by the Users and/or Buyers any number of Tokens above the Supply to fund the Project or to fund similar projects. In such case, the price of the Tokens shall be set as the average daily market price of the existing Tokens in the week prior to the issue and offer in question.

The Token Provider may at any time, at its sole discretion, stop funding the Project. In such case, the Token holders shall receive the value of the Tokens, calculated and paid out in Xaurum coins, based on the production price of Xaurum coins on the day of ICO-End.

The Buyer agrees that the Token Provider may issue an invoice for the acquired Tokens only in an electronic form and send it via e-mail to the e-mail address verified by the Token Provider or by other means of electronic communication, except when explicitly agreed otherwise.

If the Token Provider suspects that the bank operation is not transparent or in case of any other suspicion of the Token Provider related to the bank, the Token Provider has the right to refuse the execution of the Buyer's order to acquire the Tokens.

The Token Provider does not conclude business with citizens or residents of or companies incorporated in or having its place of business in the following countries (the list may be amended from time to time): the United States of America, Iran, Democratic People's Republic of Korea, Algeria and Myanmar (Burma).

The Buyers and Users are notified and acknowledge the fact that the operation of some of the Token Provider's services largely depends on the general status and operation of telecommunication networks and on the access conditions of these networks. The Token Provider shall strive to provide uninterrupted and smooth operation of its services, but Does not assume any warranties or guarantees thereof.


User support and communication

Article 5

Users and Buyers can contact the Token Provider via

Exclusion of Liability of the Token Provider

Article 6

In no case shall the Token Provider be liable for damages incurred by the Buyer in using the Token Provider's services or in relation thereof, if the damages are a direct or indirect result of:

  • the action or omission of the Buyer or a person for which the Buyer is responsible or who acts upon the Buyer's authorisation or in the Buyer's interest;
  • actions of third parties, including the persons who on their own behalf or together with the Token Provider provide the operation of an individual service or a part of service or deliveries;
  • force majeure; events that the Token Provider could not foresee upon concluding the contractual relationship and which or the consequences of which cannot be avoided are deemed as force majeure; for example, but not exclusively, force majeure includes floods, wars, extraordinary events, demonstrations, instances of civil disobedience, measures of national or local authorities, fire, earthquake, strikes, interruptions to production processes, traffic jams and other cases recognised by case. The Buyer explicitly agrees that a long disconnection or disturbances of power supply, unforeseen hardware or software faults, failures in telecommunication network or its access disturbances, technical problems of suppliers of products and services required and used by the Token Token shall also deemed as force majeure; the foregoing events shall be deemed as force majeure even if they stem from the domain of the Token Provider.

In no case shall the Token Provider be liable for indirect damages and for loss of profit.

In no case shall the Token Provider be responsible for loss, damage or change to the Buyer's content saved on the Token Provider's equipment.

In no case shall the Token Provider be liable for damages caused to the Buyer by computer malware or other harmful and/or malicious programs or other software or due to breach of the computer or information system.

The Buyer itself is responsible for preparing and saving backups of its data that have been stored on the Token Provider's servers.

If in any case the exclusions of liability of the Token Provider shall be declared void or illegal, then the Token Provider’s liability shall be limited to the maximum extent allowed by the applicable legislation.

Rights and Obligations of the Buyer

Article 7

If there is a change in data the Buyer stated upon registration or upon ordering the services or deliveries, the Buyer is obligated to notify the Token Provider in writing of the change of data within 8 days of the change occurring. In addition to the notification sent to the Token Provider, the Buyer is obligated to change the data in services offered by the Token Provider, where possible. The Buyer suffers all potential negative consequences of abandoning the notification on the change of data.

Article 8

The Buyer is responsible for itself and for its responsible persons for the confidentiality, protection and use of access passwords, user names and other data to access the services. The Buyer is responsible for the content of services it offers and with which it uses the Token Provider's equipment.

The Buyer is responsible for actions of its responsible persons as if they were its own.


Protection of Data and Business Secrets

Article 9

The Token Provider and the Buyer are obligated to protect all data on the other contracting party which they obtain through or in relation with their cooperation as a business secret, during their cooperation and for at least three (3) years after the termination of the validity of the contractual relationship.

The information, which is as per the first paragraph of this Article deemed a business secret, must not be used by the contracting parties on their own or with others for purposes beyond the contractual relationship, and must not be submitted to third parties or enable third parties to be acquainted with it. The prohibition of the submission information to third parties does not apply to the Token Provider where and to the extent it is necessary to provide services as per the concluded contractual relationship.

In no case, may the Buyer or the User make a press statement, except with the prior written consent of the Token Provider.

Informing the Buyers and the Purpose of Personal Data Processing

Article 10

The Buyer, agrees that the Token Provider or a third party may send it e-mail notifications related to the operation of services and delivery and their capacities, upgrades referring to the services, changes or amendments to these General Terms and Conditions, campaigns or benefits in using the services and deliveries, as well as other service-related messages. The Buyer agrees that these notifications may also include commercial messages (ads) from the Token Provider or third parties.

The Buyer agrees that the Token Provider sends it the electronic messages to its e-mail address entered upon registration, and to keep and process the data on the Buyer in a way determined in this Article.

The Buyer understands and agrees that in terms of sent e-mail notifications, the Token Provider may record the data on the Buyers who read a specific e-mail message and the data on the online links in the respective message the Buyers opened (clicked). The Buyer agrees that the Token Provider may use the data thus obtained to adjust offers and/or contents of future e-mail notifications sent to a specific Buyer.

The Buyer agrees that the Token Provider may use all the data gathered within the scope of implementing the services and deliveries for the Buyer for its own needs without limitations, including market analyses and adjustment of products and services to the findings of analyses.

The Buyer explicitly allows the Token Provider to send information, notifications and survey questionnaires directly or indirectly related to the Token Provider's services to the Buyer's e-mail address during the contractual relationship until the cancellation or opting-out of receiving this kind of notifications.


Protection of Personal Data

Article 11

The Buyer agrees that for the purposes of its operation the Token Provider gathers and processes the personal data of its contact persons who communicate with the Token Provider in regard to services and deliveries.

The contracting parties undertake to protect the personal data of employees and contractual workers of other contracting party or related data as per the EU’s General Data Protection Regulation (GDPR).

Final Provisions

Article 12

An e-mail message shall be deemed a valid form of communication between the contracting parties. This e-mail message must be sent to the e-mail address stated upon registration or to the e-mail address the contracting party submitted to other contracting party as per the provisions of these General Terms and Conditions and is verified by the Token Provider. At any time and without stating the cause, may the Token Provider request the Buyer to confirm the contents of an e-mail by sending registered mail or by any other appropriate means.

The message is deemed received upon its receipt by the other contracting party. The message is deemed received even if the other contracting party does not receive it and the sending party can prove that the message was sent as per the first paragraph of this Article.

In the case of large orders exceeding the monthly value of 10,000 EUR, upon the request of the Token Provider, the Buyer is obligated to disclose the data on its property and its origin, and in addition to that it guarantees to the Token Provider that its property does not originate and is in no way related to money laundering, money hiding, tax evasion, terrorism, crime, illicit trade in weapons, drugs, trafficking or other offences and that it fully complies with the legislation in the field of money laundering and terrorism financing prevention.

The relationship between the Token Provider and the Buyer is subject to the laws of Liechtenstein, without the use of rules on private international law and procedure. Disputes between the contracting parties are settled by the competent court according to the Token Provider's registered office.

The token Provider reserves the right to change any and all provisions of these Terms at any time and without prior notice.

These General Terms and Conditions shall apply from July 31, 2017.

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© 2017 Xaurum.