Terms & Conditions

1. Introduction

1.1 These Terms and Conditions apply to any foreign exchange transaction (a "Transaction") entered into between a client ("you" or "your") and London Block Exchange Ltd ("us", "we" or "our"), as well as any subsequent transfer of funds following settlement of a Transaction (a "Service"), made using our online platform (the "Facilities"). Each Transaction and Service shall be treated separately under these Terms and Conditions, and the requirements under the Payment Services Regulations 2018 (as amended from time to time) ("PSRs") shall only apply to any Services carried out under these Terms and Conditions. These Terms and Conditions, the specific details of any Transaction and Service, our complaints handling policy and our privacy policy alone shall form the entire contract between you and us (together, the "Terms").

1.2 Please review these Terms and Conditions carefully and make sure that you understand them before using the Platform and/or making an Order. If you do not agree to these Terms and Conditions, you will not be allowed to and must cease use of the Platform and must not make an Order through the Platform.

2. Acceptance of Terms and Conditions

2.1 You agree that by using our Facilities, you accept the Terms and agree to be bound by them. You should read the Terms in their entirety and should not enter into a Transaction unless you have fully understood them. If you have any queries about the Terms, or any part of them, please contact us and/or seek independent advice

2.2 LBX may at any time modify these Terms and Conditions by giving you 60 days'; notice. LBX will notify you of any changes to these Terms and Conditions either by emailing you (at the email address entered by you into the registration form on the Platform) and/or by posting a notice on the Platform. By continuing to use the Platform and/or making any Order after changes to these Terms and Conditions are made and notified to you, you agree to be bound by such changes.

2.3 You can review the most current version of our Terms and Conditions at any time by clicking on the "Terms and Conditions" link located at the bottom of the Platform. It is your responsibility to ensure that you are familiar with the current Terms and Conditions. You are advised to check the above link on a regular basis.

3. Definitions

3.1 In these Terms and Conditions:

"Account" means the account of a Customer with LBX which is created when a Customer registers with LBX by completing the registration form available on the Platform.

"AML Documentation" means the documentation required to be provided by the Customer as set out in our Anti-Money Laundering Policy.

"Broker" means a Customer who makes Orders on behalf of their Customers.

"Customer", "Your" and "You" means a user of the

Platform who makes an Order via the Platform.

"Fiat Currency" means any national government issued currency (such as pounds sterling) but not any Virtual Currency that may be used to purchase or sell Virtual Currencies via the Platform.

"LBX", "we" and "us" are references to London Block Exchange Ltd, a limited company incorporated in England with registered number 10966096 and registered address at Kemp House, 160 City Road, London EC1V 2NX, United Kingdom.

"Order" means any instruction from a Customer to buy or sell any Virtual Currencies using our platform. Your Order will not be complete until it has been matched with another Customer placing the opposite Order and therefore completing the Trade (as further detailed in clause 7).

"Platform" means the trading platform published by LBX from time to time including without limitation the trading platform at LBX.co.uk, LBX.com and their subdomains.

"Virtual Currency" means any digital asset which we support on the Platform.

4. What is LBX?

4.1 LBX is a limited company incorporated in England with its headquarters in London at Kemp House, 160 City Road, London EC1V 2NX.

4.2 LBX operates the Platform. The Platform is an electronic web interface through which Customers can either:

(a) place an Order for the purchase of Virtual Currency; or (b) place an Order for the sale of Virtual Currency.

4.3 In placing an Order, the Customer seeks to convert from Fiat Currency to Virtual Currency or from Virtual Currency to Fiat Currency.

4.4 LBX may refuse to process or cancel any pending Virtual Currency transaction as required by applicable law or in response to a requirement or request of a regulator or a court of competent jurisdiction subpoena, court order, or other binding government order or to enforce transaction limits.

4.5 You may only place Orders in relation to Virtual Currencies that LBX, in its sole discretion, decides to support. The Virtual Currencies that LBX supports may change from time to time. If you have any questions about which Virtual Currencies LBX currently supports, please submit an email request [here](mailto:support@londonblockexchange.com)

4.6 You may not use LBX';s Platform to store, send, request, or receive virtual currencies (or other digital assets) which are not expressly supported by LBX. If you attempt to place an Order via our Platform for a virtual currency which is not supported by us, we are under no obligation to return such virtual currency to you.

5. Eligibility

5.1 To use our Facilities you must:

5.1.1 be at least 18 years old;

5.1.2 be a UK resident;

5.1.3 enter into Transactions on your own behalf (unless we confirm in writing otherwise);

5.1.4 own all of the money you exchange/transfer as part of a Transaction and/or Service (unless we confirm in writing otherwise); and

5.1.5 satisfactorily complete any customer verification process we reasonably require.

5.2 By using the Facilities, you agree that you represent to us that you meet the above requirements.

5.3 If we are aware, or reasonably suspect, you do not meet all of the above criteria, we may:

5.3.1 refuse to let you access the Facilities;

5.3.2 refuse to perform any Transaction or Service; and

5.3.3 cancel any current Orders or Transactions in accordance with clause 9.2.

6. Customer & Broker Registration

6.1 You may access the public areas of the Platform which contain general information about LBX and our service without registering as a Customer.

6.2 If You wish to place an Order, you will first be required to register as a Customer. Due to compliance with regulatory requirements, registration is a three step process as follows:

(a) completion of the new Customer registration form which can be found on the Platform;

(b) provision to LBX of the AML Documentation (as set out in our Anti-Money Laundering Policy); and

(c) any person who wishes to act as a Broker on behalf of their customers must also provide LBX with any information required by LBX to satisfy LBX that it is appropriately organised to act as a Broker.

6.3 Once LBX has received all of the required documentation and information as set out in this paragraph.

5.2 and our Anti-Money Laundering Policy, LBX will undertake certain additional security checks on you.

6.4 If LBX in its sole and absolute discretion is satisfied that you comply with all applicable requirements, LBX will provide you with a verified account to access the Platform. For the avoidance of doubt, LBX may refuse to grant a verified account to any person without stating a reason.

6.5 Please note that you will not be able to make an Order under any circumstances until LBX has provided you with a verified account.

7. Orders

7.1 LBX and the Customer will from time to time enter into Orders in accordance with the Customer';s electronic instructions issued through the Platform.

7.2 LBX cannot reverse a Virtual Currency transaction which has been sent to a Virtual Currency network.

7.3 Once an Order has been made by the Customer, it will be "matched" with the first available Order made by another Customer on the Platform. For example, if you enter an Order to sell 100 Virtual Currency at or above price £X per unit of Virtual Currency, the Platform will match your Order with an Order of a Customer who wishes to buy Virtual Currency at a price above or equal to price £X per unit of Virtual Currency.

7.4 The Platform may part-perform an Order made by you and you hereby irrevocably acknowledge and agree that LBX shall be permitted to do so. For example, your Order to sell 100 units of a particular Virtual Currency at or above price £X might be matched with an Order to buy 50 units of a particular Virtual Currency at or above £X. This would leave you with a partly-unperformed Order equal to 50 units of the Virtual Currency for sale at a price above or equal to £X.

7.5 Each Order entered on the Platform is irrevocable and binding on the Customer. LBX cannot and will not reverse an Order to the extent that it has been matched with one or more other Orders as set out above.

7.6 Where an Order has not been matched, LBX may in its sole and absolute discretion cancel the Order.

7.7 LBX shall at all times be entitled to operate on the basis that each Order is correct and does not contain any errors (including in the case of manifest errors).

7.8 Each Order will be confirmed to the Customer using the Platform';s record-keeping functionality which can be viewed by the Customer using the Customer';s account portal.

7.9 LBX records the details of every Order undertaken for a Customer including the tracking numbers of all Virtual Currency provided to a Customer.

7.10 LBX has the right at any time to refuse to accept a Customer';s Order without any liability.

8. Payment

8.1 Subject to clauses 8.15 to 8.18 (inclusive), prior to making any Order, the Customer must have credited Fiat Currency or Virtual Currency to his Account. LBX shall not permit any Order to be placed until cleared funds have been received by LBX and cannot accept responsibility for a delay in onward payment due to the late arrival of such funds.

8.2 The Customer expressly agrees and acknowledges that banks have cut-off times, after which they will not accept same-day payment instructions. It is the sole responsibility of the Customer to make itself aware of, and where necessary comply with, any applicable cut off times.

8.3 Funds are credited to a Customer';s Account by the Customer making a transfer from his bank account to LBX';s Client Account using the Platform. Credited funds will show as a credit balance on the Customer';s Account when received and processed by LBX.

8.4 Virtual Currency is credited to a Customer';s Account by the Customer making a transfer from his Virtual Currency wallet to LBX';s Client Virtual Currency wallet using the Platform. Credited Virtual Currency will show as a credit to the Virtual Currency balance on the Customer';s Account when received and processed by LBX.

8.5 All payments made to LBX under these Terms and Conditions are to be made in full without any set-off, counterclaim or deduction whatsoever.

8.6 LBX shall make payments to the Customer in full in respect of an Order less LBX';s Commission (as defined on our fees page) unless (i) it is required by law to deduct sums in respect of taxation, or (ii) it is or will be owed amounts which are incurred in respect of transfer charges that may be levied or (iii) the Customer owes LBX amounts in respect of other Orders or Commission which have not been settled in accordance with these Terms and Conditions.

Orders from Fiat Currency to Virtual Currency

8.7 Subject to clauses 8.15 to 8.18 (inclusive), the Customer shall only be able to place an Order to exchange any Fiat Currency into Virtual Currency if the full amount of such Order is credited to his Account on the Platform.

8.8 In calculating how much Virtual Currency can be purchased by the Fiat Currency amount set out in the Order, LBX shall be entitled to reduce its Commission on the Fiat Currency amount of the Order prior to calculating how much Virtual Currency can be purchased.

8.9 LBX shall provide a confirmation to the Customer showing the exchange rate, the amount of Virtual Currency purchased and the Fiat Currency cost. This confirmation will be viewable in the "transaction history" section of the Platform.

8.10 On completion of an Order (or part-completion of an Order as applicable) LBX will credit to the Customer';s Account on the Platform the amount of Virtual Currency due.

Orders from Virtual Currency to Fiat Currency

8.11 The Customer shall only be able to place an Order to exchange Virtual Currency into any Fiat Currency if the full number of Virtual Currency set out in such Order is credited to his Virtual Currency Account on the Platform.

8.12 In calculating how much of any Fiat Currency can be purchased by the amount of Virtual Currency set out in the Order, LBX shall be entitled to reduce its Commission on the Virtual Currency amount of the Order prior to calculating how much of the relevant Fiat Currency can be purchased. LBX shall be permitted to take its Commission in Virtual Currency or Fiat Currency as it wishes in its sole and absolute discretion.

8.13 LBX shall provide a confirmation to the Customer showing the exchange rate, the amount of Fiat Currency purchased and the Virtual Currency price. This confirmation will be viewable in the "transaction history" section of the Platform.

8.14 On confirmed receipt of Virtual Currency, LBX will credit to the Customer';s Account on the Platform the Fiat Currency amount due.

Orders made by Brokers

8.15 A Broker may make an Order on behalf of another Customer to purchase Virtual Currency only. The Broker executes the Order as principal and is responsible to LBX for compliance with these Terms and Conditions.

8.16 In order for a Broker to place an Order with LBX, the Broker must open up a trade via the Platform. On (and not before) receipt of the relevant amount of Fiat Currency from the Broker';s customer and as soon as reasonably practicable after receipt of funds, LBX shall match the Order in accordance with clauses 8.7 to 8.10 (inclusive) and shall send the Virtual Currency to the Broker';s customer less any fees or commission due to the Broker (as notified by the Broker to LBX from time to time).

8.17 In order for a Broker to place an Order with LBX, the Broker must open up a trade via the Platform. Upon LBX receipt of cleared fiat funds, LBX will match the order. As soon as reasonably practicable, LBX shall send the Virtual Currency to the wallet of the Broker';s customer (provided that the Broker has provided LBX with all relevant details).

8.18 LBX shall be permitted to debit the customer';s Account with the relevant Fiat amount on or before settlement of the Order.

9. Withdrawing and Depositing Funds

9.1 The Customer shall be permitted to withdraw funds credited to his Account on the Platform and/or Virtual Currency credited to his Virtual Currency Account on the Platform by making a withdrawal instruction via the Platform.

9.2 Where a withdrawal instruction is received by LBX in respect of any Fiat Currency, LBX shall pay such funds to the bank account of the Customer nominated on registration. The Customer cannot receive funds into another bank account without the agreement of LBX.

9.3 Where a withdrawal instruction is received by LBX in respect of Virtual Currency, LBX shall credit such Virtual Currency to the Virtual Currency wallet of the Customer nominated on registration or subsequently agreed with LBX.

9.4 LBX shall make payments in the relevant Fiat Currency and Virtual Currency to the Customer (and shall credit the Customer';s Account) in full unless (i) it is required by law to deduct sums in respect of taxation, or (ii) it is or will be owed amounts which are incurred in respect of transfer charges that may be levied, or (iii) the Customer owes LBX amounts in respect of other Orders or Commission which have not been settled in accordance with these Terms and Conditions. In the event that LBX is required or permitted to make any deductions pursuant to this paragraph, LBX shall be permitted to make deductions in the relevant Fiat Currency or Virtual Currency in its sole and absolute discretion.

9.5 You warrant that your own and are fully responsible for any Virtual Currency wallet you have notified to LBX for the purposes of receiving Virtual Currency withdrawn from the Platform.

9.6 You warrant that you own and are fully responsible for any Virtual Currency wallet you use for the purposes of sending Virtual Currency deposited to the Platform. If you receive a deposit that you did not initiate, you must inform us at the first available opportunity after becoming aware of the deposit.

10. No Financial Advice

10.1 LBX may in its sole and absolute discretion from time to time provide information to the Customer on practical aspects of dealing between Fiat Currencies and Virtual Currency.

10.2 Notwithstanding any such information provided by LBX, the Customer acknowledges and agrees that it enters into each Order of its own free will without reliance on any information provided by LBX and that such Order is at its own risk. The Customer shall not be entitled to rely on LBX for advice on the timing or terms of any Order.

10.3 The Customer acknowledges and agrees that the exchange rate between Fiat Currencies and Virtual Currency varies regularly and will be affected by matters and events outside of the control of the Customer and LBX.

10.4 The customer acknowledges and agree that we will not take into account their specific financial circumstances or needs when we enter into a Transaction with him/her and will not provide the customer with advice as to the suitability or appropriateness of entering into any specific Transaction, or selecting any specific details of a Transaction.

11. Customer Representations

11.1 The Customer represents and warrants as at the date of each Order and on its Settlement Date that:

(a) the Customer is either (i) acting as principal in respect of the Order and is not acting for another person or (ii) if a Broker, is appropriately organised and regulated to act as a Broker and has been accepted as a Broker by LBX;

(b) the Customer has full power and authority to enter into the Order and is the beneficial owner of all monies paid or to be paid at the Settlement Date free from any charge or encumbrance;

(c) the information provided by the Customer in relation to the Order (and all AML Documentation provided by the Customer) is at the time of the Order complete, accurate, current and not misleading and that any further information requested by LBX is complete, accurate, current and not misleading in all material respects;

(d) the Customer has not relied upon any representation or warranty given by any other person (including without limitation LBX) in entering into the Order.

11.2 The Customer acknowledges that funds may be co-mingled with those of other Customers of LBX in the Client Account which is held with a major UK or EU clearing bank (the "Bank"). Funds belonging to Customers are segregated from those belonging to LBX.

11.3 The Customer shall have no fiduciary rights or claims against the Bank in respect of any of his funds held in such account or accounts.

11.4 The account or accounts with the Bank are governed by the term of a bank mandate which has been provided and is exclusively operated by LBX in accordance with its terms. The mandate states that when the Bank acts on properly mandated instructions it will receive a safe receipt and discharge and will not be bound to enquire as to the purpose to which those funds are applied and the Bank shall not be prevented from acting on such mandated instructions.

11.5 The Customer acknowledges that LBX is under no obligation to pay interest on any funds held on his behalf in any account.

12. Default

12.1 LBX has the right to terminate, close out or reverse an Order without notice to the Customer if:

(a) the Customer fails to make any payment in respect of an Order, when due and in accordance with these terms and conditions; or

(b) the Customer materially breaches any of these terms and conditions or fails to comply with its obligations to LBX or is in breach of any statute, regulation, rule or guideline applicable to it or LBX; or

(c) it becomes or may (in the reasonable opinion of LBX) become unlawful for LBX to maintain or give effect to all or any of the obligations under these Terms and Conditions or otherwise to carry on its business or if LBX is requested to close out an Order (or any part thereof) by any regulatory authority whether or not the request is legally binding or LBX in its sole and absolute discretion considers it desirable or necessary to do so for its own protection; or

(d) in the event that the Customer becomes unable to meet its obligations as they become due or has a bankruptcy petition presented against it or the Customer proposes a form of composition or arrangement to its creditors or if the Customer ceases or threatens to cease all or part of its business; or

(e) any of the events specified above or anything comparable thereto occurs under the laws of any applicable jurisdiction.

12.2 If the Customer becomes aware of the occurrence of any event referred to in Clause 12.1 above, he shall give LBX notice of such event forthwith.

12.3 If the Customer fails to make a payment due to LBX in respect of any Order, LBX shall be entitled to collect interest on such unpaid items at a rate of 2% above the current base rate of Barclays Bank plc calculated on a monthly basis from the date payment was due to the date payment is received.

12.4 If for any reason whatsoever the Customer fails to meet its obligations to LBX hereunder and or under any Order, LBX may at its discretion terminate any Order without notice and without liability for any loss. In addition to charging interest as described in paragraph 12.3 LBX shall be entitled to make a charge of up to £250 in respect of administration fees regardless of whether any Order is terminated or not.

13. Your Conduct

13.1 By downloading and/or using the Platform, You agree not to upload, post, e-mail or otherwise send or transmit any material that contains viruses, Trojan horses, worms or any other computer code, files or programs designed to interrupt, destroy or limit the functionality of any computer software or hardware or telecommunications equipment associated with the Platform.

13.2 You agree and undertake to keep Your username and password confidential, not to disclose Your password to any other person and not to permit any other person to log in to the Platform using Your username and password.

13.3 You agree not to interfere with the servers or networks connected to the Platform or to violate any of the procedures, policies or regulations of networks connected to the Platform, including these Terms and Conditions.

13.4 You also agree not to:

(a) attempt to reverse engineer or sell, export, license, modify, copy, distribute or transmit the Platform to any third party, or jeopardise the correct functioning of the Platform, or otherwise attempt to derive the source code of the software (including the tools, methods, processes and infrastructure) that enables or underlies the Platform;

(b) attempt to gain access to secured portions of the

Platform to which You do not possess access rights; (c) impersonate any other person while the Platform;

(d) conduct Yourself in a vulgar, offensive, harassing or objectionable manner while using the Platform;

(e) resell or export the software associated with the

Platform;

(f) use the Platform to generate unsolicited advertisements or spam; or

(g) use any automatic or manual process to search or harvest information from the Platform, or to interfere in any way with the proper functioning of the Platform.

14. Our Rights

In providing You with access to the Platform, and permitting you to make Orders via the Platform, LBX reserves the following rights, and in accessing, browsing or otherwise using the Platform and/or making any Order via the Platform You grant to LBX and agree that LBX shall have the following rights:

(a) the right to refuse or withdraw Your access to the Platform in accordance with applicable laws for any reason at any time (with or without notice) if in LBX';s sole and absolute discretion You violate or breach any of these Terms and Conditions;

(b) the right to suspend, amend or disable Your Account without giving You notice or any reason;

(c) the right to cancel any Order or amend in part any Order without giving You notice or any reason, save that in such circumstances LBX shall refund such part of the Order as has been cancelled by it;

(d) the right to amend or update the Platform, Commission, any Order, billing methods or these Terms and Conditions from time to time;

15. Intellectual Property

15.1 LBX and/or its licensor(s) are the sole owners of the Platform, which includes any software, domains, and content made available through the Platform.

15.2 The LBX brand and the Platform are protected by UK and International copyright and other intellectual property laws. Without limitation, this means that You may not sell, export, license, modify, copy, distribute or transmit the Platform (or any part of it) or any material provided through the Platform without LBX';s prior express written consent.

15.3 Any unauthorised use of the Platform will result in the automatic termination of the limited license granted by us. LBX reserves the right to terminate the limited license without notice at any time following an unauthorised use by you of the Platform.

15.4 LBX and its graphics, logos, icons and service names related to the Platform are registered and unregistered trademarks or trade dress of LBX. They may not be used without LBX';s prior express written permission.

15.5 All other trademarks not owned by LBX that appear in connection with the Platform are the property of their respective owners, who may or may not be affiliated with, connected to or sponsored by LBX.

16. Events Outside Of Our Control

16.1 We will do all we reasonably can to provide the Facilities and carry out any Transaction or Service. However, we will not be liable or responsible for failing to perform, or a delay in performance of, any of our obligations in relation to any Transaction and/or Service or any loss suffered by you where that is caused by an Event Outside Our Control.

16.2 An "Event Outside Our Control" means any act or event beyond our reasonable control. This includes, but is not limited to any acts or restraints of governments or public authorities; strikes or other industrial action; terrorism or threat of terrorist attack; war (whether declared or not) or threat of war, revolution, riot or civil commotion; natural disaster; failure or loss of public or private telecommunications, networks or other systems/services our Facilities rely on; or a third party system/service which we rely on is provided/operated for the provision of the Facilities and/or the carrying out of any Transaction or Service becomes unavailable and/or inaccessible (including in the event of a third party system/service provider becoming insolvent).

16.3 If an Event Outside Our Control takes place that affects the performance of our obligations, we will promptly notify you, and our obligations under to any Transaction and/or Service will be suspended and the time for performance of our obligations will be extended for the duration of the Event Outside Our Control. You may cancel any Transaction and/or Service affected by an Event Outside Our Control, which has continued for more than 30 calendar days. You may do this by contacting us at the address supplied above, or via email: support@lbx.com.

17. Electronic Communications

By downloading and/or using the Platform and/or viewing Listings and/or making any Order for Goods through the Platform, You consent to receiving electronic communications and notices from LBX. You agree that any notice, agreement, disclosure or other communications that we send to You electronically will satisfy any legal communication requirements, including that such communications be in writing.

18. Privacy

18.1 We understand that your data privacy is important to you and we take it very seriously. We will process your data in accordance with the requirements of the General Data Protection Regulation 2018 (GDPR). We will not sell, rent or exchange your personal information with any third party (other than with our affiliates within the LBX group) for commercial reasons other than in connection with establishing and managing your account and to help us identify you when you contact us. Further information on how we will gather (including our practice of recording telephone calls), use and share your information can be found in our privacy policy which is available at Privacy policy.

18.2 You provide us with information when You register an Account via the Platform. We also collect information both relating to You (for example on Your usage and purchase history) and to Customers of the Platform in general. Any information that You submit or that we collect when You are using the Platform is subject to the LBX Privacy Policy, the terms of which are hereby incorporated into these Terms and Conditions.

18.3 The information We hold about You is to assist Us in providing the Services to You, including the opening of the fiat and virtual currency accounts. By engaging Us to provide the Services, You are agreeing that We may possess Your information for these purposes and that We may pass it on to a Nominated Account Provider. This information is confidential and will only be disclosed to other parties in the following circumstances:

(a) where required or permitted by law or regulation;

(b) to investigate or prevent fraud or other illegal activity;

(c) to third parties in order to open or close accounts or transfer funds or for anti-money laundering purposes as required as part of the Services; and

(d) at Your request or with Your consent.

19. Limitation of Liabilities

19.1 LBX provides Platform "as is" and without any warranty or condition, whether express, implied or statutory.

19.2 LBX assumes no liability or responsibility for any errors or omissions in the Platform; any failures, delays or interruptions in the Platform or in delivery of any Order; any losses or damages arising from the use of the Platform.

19.3 LBX reserves the right to deliver the Platform and to process Orders in its sole and absolute discretion.

19.4 In no event shall LBX, its shareholders, directors, officers, employees or agents be liable (jointly or severally) to You for loss of use or any special, incidental, indirect or consequential damages arising out of or in connection with the Platform, the publication of any Listing, the placement by you of any Order, the delivery of any Goods, the failure in whole or in part to deliver any Goods or these Terms and Conditions, on any theory of liability, and whether or not advised of the possibility of damage.

19.5 LBX does not seek to exclude liability for death or personal injury caused by our negligence, or fraud or fraudulent misrepresentation on the part of LBX.

19.6 If any applicable authority holds any portion of this section to be unenforceable, then liability will be limited to the fullest possible extent permitted by applicable law.

19.7 LBX specifically excludes liability for any loss, harm, distress or damage suffered by You or any third party as a result of inaccurate information appearing on the Platform.

20. Indemnity

You agree to indemnify and hold LBX and its related companies, and each of their respective shareholders, directors, officers, employees, agents and merchant partners harmless from and against any third-party claim or cause of action, including reasonable attorneys'; fees and court costs, arising, directly or indirectly, out of Your breach of these Terms and Conditions and/or Your violation of any law or the rights of any third party.

21. Disputes

21.1 You agree that these Terms and Conditions and any claim, dispute or controversy arising out of, in connection with these Terms and Conditions or their subject matter or formation (including non-contractual disputes or claims), the Platform, LBX';s advertising or any related transaction between You and LBX shall be governed by and construed in accordance with English law.

21.2 Any dispute or claim arising out of or in connection with such matters (including non-contractual disputes or claims) will be subject to the exclusive jurisdiction of the courts of England and Wales.

22. Termination

LBX may change or discontinue the availability of the Platform and at any time without any prior notice. LBX reserves the right to terminate these Terms and Conditions for any reason, with 60 days prior notice, and these Terms and Conditions shall automatically terminate in the event that You violate any of the Terms and Conditions set forth herein (with prejudice to our accumulated rights against You). In the event of any termination, You will immediately cease use of the Platform and will not make any Order.

23. General

23.1 These Terms and Conditions are agreed between You and us. No person shall have any rights under or connection with these Terms and Conditions under the Contracts (Rights of Third Parties) Act 1999.

23.2 If any court or competent authority decides that any term of these Terms and Conditions is held to be invalid, unlawful or unenforceable to any extent, such term shall, to that extent only, be severed from the remaining terms, which shall continue to be valid to the fullest extent permitted by law.

23.3 LBX reserves the right to charge interest on any late payments at the rate of 7% per annum above the base rate of the Bank of England. Interest shall accrue on a daily basis from the due date until the date of actual payment of the overdue amount, whether before or after judgment.

23.4 Headings are for reference purposes only and in no way define, limit, construe or describe the extent or scope of such section.

23.5 Our failure to enforce any provision of these Terms and Conditions shall not constitute a waiver of that or any other provision and will not relieve You from the obligation to comply with such provision.

23.6 You are not permitted to assign, transfer, charge, sub-contract or deal in any other manner with all or any of Your rights under these Terms and Conditions without our prior express written consent.

23.7 These Terms and Conditions set forth the entire understanding and agreement between You and LBX with respect to the subject matter hereof.

23.8 These Terms and Conditions and any dispute or claim arising out of or in connection with them or their subject matter or formation (including non-contractual disputes or claims) shall be governed by and construed in accordance with the laws of England.

23.9 You irrevocably agree that the courts of England shall have exclusive jurisdiction to settle any dispute or claim that arises out of or in connection with these Terms and Conditions agreement or their subject matter or formation (including non-contractual disputes or claims).

24. Taxes

24.1 It is your responsibility to determine what, if any, taxes apply to the payments you receive in connection with the Facilities, Transactions and/or Services ("Taxes"). It is solely your responsibility to assess, collect, report, or remit the correct Taxes to the proper tax authority. We are not under any obligation to determine whether Taxes apply, or calculate, collect, report, or remit any Taxes to any tax authority arising from any transaction. You acknowledge that we may make certain reports to tax authorities in the United Kingdom and overseas regarding Orders and Transactions that we process.