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HEYBIT ForeFront Services Terms of Use 02
HEYBIT ForeFront Services Terms of Use 02
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Written by HEYBIT
Updated over a week ago

Last Updated: May 17, 2021

1. Introduction

In addition to the General Terms and Conditions of Use (the “General Terms”) and Privacy Policy, these ForeFront Services Terms of Use and Appendix A (collectively, the “ForeFront Terms”), constituting a legal agreement between the Company (as defined in the General Terms) and the User of any and all commission-fee based, premium version of the Services provided by the Company on a subscription basis (the “ForeFront Services”) shall apply to the User’s use of the ForeFront Services.

We may amend the ForeFront Terms and the ForeFront Services from time to time. All notices of any material change will be posted on this page with an updated effective date and whenever such changes affect your rights, we will notify you of them in advance via email or other means we reasonably deem appropriate. However, it will be the User’s responsibility to regularly check this page for such notice. If the User continues to use our ForeFront Services after such changes, the User will be deemed to have accepted such changes and be legally bound by the newly amended ForeFront Terms.


2. ForeFront Services and Fees

2.1 We offer the ForeFront Services for a fee. By signing up for and using the ForeFront Services, you agree to our General Terms, Privacy Policy and the ForeFront Terms provided here. You also agree to waive your right of withdrawal at the moment you subscribe to the ForeFront Services to the maximum extent permitted by applicable law, so that you are able to immediately access them. All purchases of the ForeFront Services are final and non-refundable, except at our sole discretion and in accordance with the ForeFront Terms.

2.2 The ForeFront Services provide you access to the enhanced version of the cryptocurrency auto-trading strategies. By signing up for and using the ForeFront Services, you agree to pay any fees or other incurred charges that apply to the ForeFront Services (such as subscription fees). Please carefully read the information about payment method, subscription fee, payment period, and other information set forth in Appendix A as attached to these ForeFront Terms.

2.3 The subscription fee set forth in Appendix A shall not include any fees incurred by the User in relation to use of any third party cryptocurrency exchanges. . Such subscription fee shall be automatically withdrawn to our account every six month(180 days). In case the 180th day is a weekend or Republic of Korea’s public holiday, the last day of the subscription is the day before the next business day.

2.4. Any additional expenses incurred by or taxes imposed on the User in relation to the User’s use of the ForeFront Services shall be borne by the User.

2.5 The User expressly agree that the Company is authorized to dispose the User’s cryptocurrencies in the User’s account to collect outstanding subscription fees only to the extent necessary.

2.6 If the User terminates the ForeFront Services prior to expiration date of the User’s ForeFront Services subscription period, the Company may charge the early termination fee (as set forth in the Appendix A) unless (i) the Company fails to manage the User’s cryptocurrencies in the User’s account in accordance with the management conditions instructed by the User; (ii) the User terminate the ForeFront Services due to his objection to the modification to the General Terms, the ForeFront Terms, the Services or the ForeFront Services; (iii) the parties mutually agree to early termination of the ForeFront Services; or (vi) the User terminates the ForeFront Services due to reason solely attributable to the Company.

3. ForeFront Services/Subscription Period and Return on Investment

3.1 The periods of subscription of the ForeFront Services are set forth in Appendix A. The Company shall notify the User of the expected expiration of the subscription period one month prior to such expiration date.

3.2 If the User does not express the User’s intent to terminate the ForeFront Services until the expiration date of each applicable subscription period, the User shall be deemed to have agreed to extension of the ForeFront Services for the same period under the same terms and conditions.

3.3 Notwithstanding the Section 2.6, the Company at its reasonable discretion may terminate the ForeFront Services due to reason not attributable to the User.

3.4 For the ForeFront Service’s performance evaluation purpose, the return on investment for a fixed period shall be the increase or decrease ratio in the net asset value of the cryptocurrencies in the User’s account for that period.

4. Fee Changes

To the maximum extent permitted by applicable laws, we may change our fees (i.e. subscription fees) for the ForeFront Services at any time. We will give you reasonable notice of any such fee changes by posting the new fees on or through the applicable ForeFront Service and/or by sending you an email notification. If you do not wish to pay the new fees, you can cancel the applicable ForeFront Service prior to the change going into effect.

5. Service Changes

5.1 The service may be transferred from the Company to overseas legal entity. The Company shall undergo due diligence to ensure that the transfer will not negatively affect the quality of the service. The account information of the User may be transferred to the new service providing legal entity to maintain the continuity of the service. The Company shall notify the User of the transfer in advance and if the User does not agree with the transfer, the User may terminate the Subscription.

5.2 The Company may change the exchange on which the Auto Trading Service is based if the circumstances of the exchange may negatively affect the interests of the User. The Company shall notify of the change to the User in advance.

Appendix A

1. The investment targets of the ForeFront Services are the cryptocurrencies listed on Binance spot exchange only.

2. Each subscription period constitutes 180 days from the commencement date of the Forefront Services and automatically renewed unless terminated in accordance with the General Terms. For the avoidance of doubt, the commencement date of the ForeFront Services is the day when the first deposit is made to the account upon the generation of the Auto Trading Services bot. In case of the subscription renewal after the expiration of the previous subscription or after the termination of the subscription, the commencement date is the day when Auto Trading Services bot is activated upon the subscription renewal.

3. The basic cryptocurrency for calculating the ForeFront Services’ performance (earning rate), initial investment amount, any remaining balance at the time of termination/cancellation of the ForeFront Services, etc., is USDT.

4. The User shall pay 25% of the Profits for a subscription fee(or performance fee) during applicable subscription period. For the purpose of this Section, the Profits means increase of net asset value of the initial USDT amount that the User deposited in his account with us on the commencement date of the ForeFront Services during the subscription period or up to the termination date whichever occurs first (however deducting any amount withdrawn by the User and adding any amount additionally deposited by the User during such period). If no Profits are made, no subscription free will be due. Each subscription fee shall be payable at the end of each subscription period (every 180 days).

5. It the User terminates his account or our Services early prior to expiration of each subscription period, additional 15% of the Profits shall be withdrawn from the User’s account for early termination fee in addition to the subscription fee up to the terminate date as calculated pursuant to Section 5 above.

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