Terms and Conditions

The following rules and regulations are for using localbx.io. Everyone who is participating in website must be responsible to read and comply with the following rules and conditions. Also totally agree and accept the localbx.io service agreement.

1. Category of definition and meaning
1.1 The word of “Seller” refers to seller of Bitcoin.
1.2 The word of “Buyer” refers to buyer of Bitcoin.
1.3 All Buyers and sellers must be understood that localbx.io is a website that acts as an intermediary or market place for matching those who want to sell and buy Bitcoin together. It is not a trading website.
2. Category of transaction and agreement
2.1 Transaction is completed when buyer has transferred money into account or pay by the way that localbx.io system defines to the seller's account. And then, the seller release Bitcoin into the buyer’s wallet completely.
2.2 Incomplete transactions is means a buyer or seller of Bitcoin acting in breach of good faith in buying or selling, or both, until the transaction process could not completed.
2.3 Disputation is occurred refer to the either buyer or seller asked the system to resolve the problem of the transaction, through the “Dispute button”.
2.4 The system will take care of the disputation resolution. These act aims to operate for both parties get the most satisfaction. However the system does not guarantee that any party or both parties shall be satisfied in the conclusion of the disputation. In addition, the system is not responsible for any direct or indirect damage to the parties as a result of solving the disputation and the both parties are aware of this agreement (2.4) before the opening of the dispute button.
3. Category of penalties and responsibilities
3.1 If the system finds that a buyer or seller is fraudulent or has any acting in term of fraudulent which can effected resulting in the website is damaged. The system can cancel the user account or cancel service to the merchant immediately. Thus, all the number of Bitcoin in the system will be deducted to compensate for damage to the website and its members.
3.2 The website is not responsible for any damages incurred between the buyer and the seller in both direct and indirect damage. Thus the buyer and seller are acknowledges that you totally agree and understand this agreement before using localbx.io.
3.3 The protection of Bitcoin in the localbx.io wallet does not include hacked case. Being hacked with the force majeure which is difficult to prevent and the community is acknowledge and accept any potential damage.
3.4 Penalties of the system are final which do not have any appeals for all penalties. Exception, if there are the new facts of the dispute occurred.

Announce 10/02/2017
Admin Localbx.io