The purchase of RES carries with it significant risk. Prior to purchasing RES, the Purchaser should carefully consider the below risks and, to the extent necessary, consult a lawyer, accountant, and/or tax professionals prior to determining whether to purchase RES.
The purchaser expressly agrees that the purchaser is purchasing RES at the purchaser’s sole risk and that RES is provided on an "as is" basis without warranties of any kind, either express or implied, including, but not limited to, warranties of title or implied warranties, merchantability or fitness for a particular purpose (except only to the extent prohibited under applicable law with any legally required warranty period to the shorter of thirty days from first use or the minimum period required). without limiting the foregoing, none of the Respectonomy parties warrant that the process for purchasing RES will be uninterrupted or error-free.Force Majeure
Respectonomy is not liable for failure to perform solely caused by:
The Respectonomy Platform requires, for proper operation, and comprehensive utilization, a cryptographic token called RES. Respectonomy will produce and market a quantity of RES in a pre-sale event called the initial sale, to be conducted on its web site at https://respectonomy.com under the ICO tab. Purchasers in the initial sale will acquire RES in exchange for BTC at predefined sale price over a fixed period as given below. Purchasers of RES in the initial sale will be granted user accounts on the aforementioned website that will enable them to claim their purchase once the product has been developed and is ready for delivery. All RES pre-sold in this manner will be created in the Respectonomy Platform’s initial Block -- the initial block of the Respectonomy Platform’s blockchain which constitutes the inception of operation of the system -- which is expected to be created during the second quarter of 2017, although there are no guarantees that this will occur according to such a time-frame or at all. After such time, Respectonomy will allocate the purchased RES to the corresponding user account on the web site, delivering it to their control.Creation and Sale of RES
RES will be created through two processes: (1) a pre-mining process, at the instant the system becomes operational, that will create and place a sum of Five-million (5,000,000) RES in the initial block of the blockchain used for the Respectonomy Platform, and (2) the ongoing mining process which secures the Respect blockchain. The mining process will create Sixteen (16) RES per block with the amount halving every 525800 blocks which is approximately 2 years. The initial sale is directly related only to the first process. Crowdsale will end automatically when fund collection amounts to 2000 btc. Should ICO does not reach the target of 2000 BTC, only that many tokens will be mined as per the amount of Bitcoins raised. An investment of 1 BTC will entitle purchaser to receive 2000 RES in the ICO period and minimum investment per account should not be less than 0.01 BTC.
TIMING OF SALE
The initial sale will begin at Monday 12 pm UTC on February 6, 2017.
The initial Sale will run till Saturday 12 pm UTC on March 4, 2017.
Respectonomy reserves the right to change the date when the initial sale will begin and further reserves the right to extend the sale duration for any reason, including the unavailability of the website https://respectonomy.com/ico or other unforeseen security or procedural issues. Though it does not currently anticipate of doing so. Respectonomy also reserves the right to shorten the sale duration for any reason.Disclosure of Purchases.
In the spirit of openness, and to enable RES Purchasers to have as much information as possible to guide their decision making process, Respectonomy will disclose in real time the total number of RES sold to enable the Purchaser to develop an understanding of the size of the existing RES pool at the time of their RES purchase.Acceptance of Terms and Conditions of the RES Sale.
As a first step in the purchase process, Respectonomy will present the Purchaser with these Terms, and associated documents, along with a check box. By clicking the check box, the Purchaser: (i) consents and agrees to the Terms; (ii) represents and warrants that the Purchaser is legally permitted to purchase RES in the Purchaser’s jurisdiction and is legally permitted to receive products of Thailand origin; (iii) represents and warrants that the Purchaser is of a sufficient age to legally purchase RES or has received permission from a legal guardian who has reviewed and agreed to these Terms; (iv) represents and warrants that the Purchaser will take sole responsibility for any restrictions and risks associated with the purchase of RES as set forth below; (v) represents and warrants that the Purchaser is acquiring RES for the use of the Respectonomy Platform, or to facilitate development, testing, deployment and operation of applications using the Respectonomy Platform; and (vi) represents and warrants that the Purchaser has an understanding of the usage and intricacies of cryptographic tokens, like BTC, and blockchain-based software systems.Independent Confirmation of Purchases
During the purchase process on the https://respectonomy.com/ico website, Respectonomy will provide Purchasers with a unique intermediary BTC address. Using this address, Purchasers can track and confirm that the Purchaser’s BTC has been received at that address. Knowledge of the unique intermediary BTC address does not constitute a purchase receipt or indicate in any way that any party possessing such knowledge has rights to or ownership of the purchased RES.Receipt of RES and the Purchase Email
As part of the purchase process, and in order to purchase RES, a Purchaser will need to provide an email address (the “Purchase Email”). The Purchase Email will be used to email the Purchaser a notice of the creation of the Purchaser’s account on the Respectonomy web wallet where the purchased RES has been delivered to. By purchasing RES, and to the extent permitted by applicable law, the Purchaser agrees not to hold any of the Respectonomy Parties liable for any losses or any special, incidental, or consequential damages arising out of, or in any way connected to, Purchaser’s failure to their account.RES Will Only Be Available For Sale on the Respectonomy Website.
Respectonomy will only sell RES through the Respectonomy website, available at https://respectonomy.com/ico. To the extent that any third-party website or service offers RES for sale during the initial sale or facilitates the sale or transfer of RES in any way during the initial sale or at any time up to the release of the initial block, such third-party websites or services are not sanctioned by Respectonomy or its parents and affiliates and have no relationship in any way with the Respectonomy Parties. As a result, Respectonomy prohibits the use of these third-party websites or services for the purchase of RES prior to the end of the initial sale.Fraudulent Attempts to Double Spend BTC.
Respectonomy will monitor all potential transactions for fraudulent attempts to double spend BTC. Any detected double spend of BTC will result in no RES being generated in the initial block for the associated wallet address.Rescpectonomy Will Not Purchase RES During Initial Sale and Until the Creation of the Initial Block.
Respectonomy warrants that it will not purchase RES in its own sale. Furthermore Respectonomy warrants that it will not purchase RES from any third party, or acquire RES in any manner, or acquire future control of RES, during the period of the initial sale and until the creation of the initial block.All Purchases of RES Are Non-Refundable
All purchases of RES are final. purchases of RES are non-refundable. by purchasing RES, the purchaser acknowledges that neither Respectonomy nor any other of the Respectonomy parties are required to provide a refund for any reason, and that the purchaser will not receive money or other compensation for any RES that is not used or remains unused.Taxation of RES and Taxation Related to the Initial Sale.
Respectonomy makes no representations concerning the tax implications of the sale of RES or the possession or use of RES. The Purchaser bears the sole responsibility to determine if the purchase of RES with BTC or the potential appreciation or depreciation in the value of RES over time has tax implications for the Purchaser in the Purchaser’s home jurisdiction. By purchasing RES, and to the extent permitted by law, the Purchaser agrees not to hold any of the Respectonomy Parties liable for any tax liability associated with or arising from the purchase of RES.Privacy
Although Respectonomy requires that Purchasers provide an email address, Respectonomy will not publish any identifying information related to an RES purchase, without the prior written consent of the Purchaser. Purchasers may be contacted by email by Respectonomy regarding a purchase. Such emails will be informational only. Respectonomy will not request any information from Purchasers in an email.Limitations Waiver of Liability.
The purchaser acknowledges and agrees that, to the fullest extent permitted by any applicable law, the disclaimers of liability contained herein apply to any and all damages or injury whatsoever caused by or related to use of, or inability to use, RES or the Respectonomy platform under any cause or action whatsoever of any kind in any jurisdiction, including, without limitation, actions for breach of warranty, breach of contract or tort (including negligence) and that none of the Respectonomy’s Team shall be liable for any indirect, incidental, special, exemplary or consequential damages, including for loss of profits, goodwill or data, in any way whatsoever arising out of the use of, or inability to use, or purchase of, or inability to purchase RES. The purchaser further specifically acknowledges that Respectonomy Team is not liable for the conduct of third parties, including other purchasers of RES, and that the risk of purchasing and using RES rests entirely with the purchaser. To the extent permissible under applicable laws, under no circumstances will any of the Respectonomy Team be liable to any purchaser for more than the amount the purchaser have paid to Respectonomy for the purchase of RES. some jurisdictions do not allow the exclusion of certain warranties or the limitation or exclusion of liability for certain types of damages. Therefore, some of the above limitations in this section and elsewhere in the terms may not apply to a purchaser. in particular, nothing in these terms shall affect the statutory rights of any purchaser or exclude injury arising from any wilful misconduct or fraud of Respectonomy.Complete Agreement
These Terms set forth the entire understanding between each Purchaser and Respectonomy with respect to the purchase and sale of RES. For facts relating to the sale and purchase, the Purchaser agrees to rely only on these two documents in determining purchase decisions and understands that these documents govern the sale of RES and supersede any public statements about the initial sale made by third parties or by Respectonomy Team or individuals associated with any Respectonomy, past and present and during the initial sale.Severability.
The Purchaser and Respectonomy agree that if any portion of these Terms is found illegal or unenforceable, in whole or in part, such provision shall, as to such jurisdiction, be ineffective solely to the extent of such determination of invalidity or unenforceability without affecting the validity or enforceability thereof in any other manner or jurisdiction and without affecting the remaining provisions of the Terms, which shall continue to be in full force and effect.No Waiver.
The failure of Respectonomy to require or enforce strict performance by the Purchaser of any provision of these Terms or Respectonomy’s failure to exercise any right under these agreements shall not be construed as a waiver or relinquishment of Respectonomy's right to assert or rely upon any such provision or right in that or any other instance. The express waiver by RES of any provision, condition, or requirement of these Terms shall not constitute a waiver of any future obligation to comply with such provision, condition or requirement. Except as expressly and specifically set forth in this these Terms, no representations, statements, consents, waivers, or other acts or omissions by Respectonomy shall be deemed a modification of these Terms nor be legally binding, unless documented in physical writing, hand signed by the Purchaser and a duly appointed officer, employee, or agent of Respectonomy.Updates to the Terms and Conditions of the RES.
nitial Sale Respectonomy reserves the right, at its sole discretion, to change, modify, add, or remove portions of the Terms at any time during the sale by posting the amended Terms on the Respectonomy website (https://respectonomy.com/ico). Any Purchaser will be deemed to have accepted such changes by purchasing RES. The Terms may not be otherwise amended except in a signed writing executed by both the Purchaser and RES. For purposes of this agreement, "writing" does not include an e-mail message and a signature does not include an electronic signature. If at any point you do not agree to any portion of the then-current version of the Terms, you should not purchase RES.Further Information
For further information regarding the RES sale, please contact email@example.com
Crowdsale of cryptocurrencies are a creative new type of fundraising model, which might have potential or unknown legal risks. In a few countries, Crowdsale is a legal word to use and implied, where in some it is not. It is the investor’s responsibility to take a note of rules and regulations that imply in his/her country in relation to Crowdsale investment before participating. In no event shall the owners of, or contributors to, the Respectonomy platform be liable for any kind of legal consequences that might be initiated against investors because of participation in the said Crowdsale.There will be No Refunds
The investment in ‘RES’ can lead to the loss of money over a short or even over a long period of time. The investors in the said token should expect prices to have large range fluctuations in value. The information published on the Websites cannot guarantee that the investors in ‘RES’ would not lose any money.Liquidity and market risk
Although there may be exchanges offering trading service of ‘RES’, Respectonomy will try to reduce price fluctuations through adequate information disclosure and many other means like market making, buy wall requirements if any. Respectonomy may experience difficulty in managing the liquidity of ‘RES’, the user has to understand the risk of price volatility and low liquidity after the launch of ‘RES’ for trading. Price determination is an open market activity. Respectonomy will have no role in determining prices after it has launched ‘RES’ for trading. Buy Walls are typically an activity that help early believers to minimize their loses from rapid price falls that may arise of rumours, fear, etc.Tax Obligations
The users of the Website are solely responsible to determinate what, if any, taxes apply to their ‘RES’ transactions. RESPECTONOMY Ltd. And its owners, or contributors to, the Website are NOT responsible for determining the taxes that may apply to ‘RES’ transactions. Any transfer of title in ‘RES’ occurs within a decentralised network, and not on the Website.