These terms and conditions (Terms) form a binding legal agreement between the customer (you, your) and McLeod Pacific Investments Pty Ltd. (ABN 36631029180 – AUSTRAC DCE# DCE100595585-001 ) trading under LocalBitcoins.com trading handle Bitcoin_Cam (we, us, our). Please read through these Terms and Conditions thoroughly:

1. Our Service

1.1 We do not sell our own bitcoin. We provide buyer’s agency services (Services), to allow you to quickly and easily buy bitcoin at a fair market rate, through localbitcoins.com (Website).
1.2 Because we source bitcoin for you as your agent, and do not sell you our own bitcoin, we are not required to charge you GST on the value of the Bitcoin.

1.3 By sending us a trade request on the Website, you agree to be bound by these Terms, which govern all aspects of our trade with you (Trade).

1.4 These Terms only apply to your buying bitcoin through us through the Website. We do not control the Website and may also be subject to other terms and conditions imposed by the operator of the Website.

2. How trading with us works

2.1 By sending us a trade request on the Website, you are requesting to use our Services.

2.2 The price quoted in our advertisements is a total price which includes our Commission (see section 5 below for more detail on our Commission).

2.3 Once you have sent us a trade request, we will confirm: a) the amount and price of the bitcoin for the Trade; and b) our Commission for the Trade.

2.4 Once you have sent us a trade request, the Website will automatically confirm that our bitcoin wallet contains at least the amount of bitcoin for the trade, and will hold this amount in escrow as a security deposit.

2.5 We offer a number of different payment methods (see section 3 for more details):

1. a) cash deposit over-the-counter at our select institutions;
2. b) electronic funds transfer from your account via Bank Trad POLi; and
3. c) electronic funds transfer from your account with any other Australian bank.

2.6 Once you have confirmed your preferred method of payment and verified your identity (see section 3), we will provide our bank account details.

2.7 You must follow the procedures in section 3 exactly in order to pay for your Trade.

2.8 We reserve the right to reject your Trade if you:

1. a) do not follow the payment and identification procedure in section 3 exactly;
2. b) use a TOR/VPN service;
3. c) attempt to procure any other person to pay for your Trade;
4. d) mark your Trade as paid before you actually pay.

2.9 If we reject your trade under clause 2.8, we will refund any payment you have made, within 15 working days, but there may be delays due to bank processing and clearance times.

2.10 After you have initiated the payment for your Trade, you must mark your payment as paid, through the Website.

2.11 Once we receive confirmation from our payment provider that you have paid for your Trade, we will immediately acquire bitcoin for you, from one of the bitcoin exchanges which we have accounts with.

2.12 We will then immediately release the bitcoin, once acquired, from our bitcoin wallet on the Website to your bitcoin wallet on the Website.

3. Payment methods

3.1 You must make payment within 3 hours of making the trade request.

3.2 If you have requested to pay by electronic funds transfer, you must, in the Trade chat window:

1. a) upload a copy of an ID document showing your name and photo (passport or drivers licence) and a secondary document showing at least your name by a Government source or a reputable institution;
2. b) provide your Australian mobile phone number (current and working).
3. c) provide your e-mail address (current and working).
4. d) If requested, a form of social media, to verify your online presence.

3.3 In addition, if you have requested to pay by electronic funds transfer from any bank other than what is accepted by POLi, we may require you to upload further identification documents.

3.4 We may relax or waive these verification requirements for repeat customers.

3.5 If you have requested to pay by cash deposit, you must, in the Trade chat window:

1. a) provide your Australian mobile phone number (current and working); and
2. b) upload a copy of the deposit receipt once you have made the deposit.

3.6 We may relax or waive these verification requirements for repeat customers.

4. Appointment as your agent

4.1 We do not sell our own bitcoin to you. We acquire bitcoin on your behalf from one of the bitcoin exchanges or bitcoin sellers that we have access to.

4.2 You appoint us as your agent for the sole purpose of acquiring the bitcoin for the Trade.

4.3 You direct and authorise us to acquire the relevant amount of bitcoin set out in the Trade:

1. a) on your behalf; and
2. b) at the best price that we can obtain through the bitcoin exchanges we use.

4.4 The price quoted in our advertisements is based on the current average price across the various bitcoin exchanges we use to acquire bitcoin for you. It takes into account fluctuations in the prices quoted on those exchanges as well as (where relevant) the exchange rate between Australian Dollars and the other fiat currencies used by those exchanges.

4.5 From time to time, variations in the price offered on a bitcoin exchange may result in the actual price of the bitcoin that we acquire being higher or lower than the agreed price set out in your Trade. However, we will always honour the price set in your Trade, as follows.

1. a) If the price we pay on a bitcoin exchange to acquire bitcoin on your behalf is higher than the agreed price in the Trade, we will bear the cost of this difference.
2. b) If the price we pay on a bitcoin exchange to acquire bitcoin on your behalf is lower than the agreed price in the Trade, you authorise us to retain the difference.

4.6 Our authority and responsibility as agent is limited to acquiring the bitcoin on your behalf under the Trade.

4.7 We retain full discretion to choose where to acquire the bitcoin for your Trade.

4.8 We confirm and warrant that we do not act as agent for any bitcoin exchange or bitcoin seller or accept any commission or other form or remuneration from any bitcoin exchange or bitcoin seller.

5. Our Fees

5.1 We charge you a fee (Commission) which is a fixed percentage of the Australian Dollar value of your Trade, which you must pay at the same time as payment for your Trade.

5.2 The Commission will be confirmed before you are required to pay for your Trade.

5.3 We charge GST on the Commission. The Commission is quoted including GST.

5.4 Immediately upon completing the Trade, we will provide you with a tax invoice which specifies the amount of bitcoin acquired, the amount of the Commission, GST charged on the Commission, and the total amount you paid for the Trade.

5.5 We make no representation or warranty as to whether or not the bitcoin that you have acquired is a creditable acquisition for Goods and Services Tax.

5.6 We are not required to confirm the identity of the seller of the bitcoin.

6. Your personal information

6.1 We reserve the right to require you to confirm your identity before fulfilling your Trade.

6.2 We will only collect and use your personal information in order to confirm your identity, and we will not use your personal information for any other purpose. We may store your personal information in a secure encrypted form for our records.

6.3 We will never disclose your personal information to any third parties (apart from our employees, officers and related entities) unless required to do so by law.

7. Limitation of liability

7.1 Apart from the matters set out in these Terms, we do not control any aspect of the Website and we are not responsible for any loss you suffer including but not limited to:

1. a) as a result of you failing to deposit, or a bank failing to process, payment for your Trade within the specified timeframe, or you providing incorrect account details in making a payment; and
2. b) any problems with the Website including loss of control of your bitcoin wallet or account with the Website for any reason.
3. Representations

8.1 If you agree to these Terms you represent to us that you:

1. a) are 18 years old or older; and
2. b) are capable of entering into a legally binding agreement.

8.2 You also represent and warrant that:

1. a) all information you have provided to us is correct and current;
2. b) you have the power and authority necessary to enter into the agreement formed under these Terms and to perform the acts required under these Terms; and
3. c) you have complied and will continue to comply with all applicable laws, statutes, ordinances, and regulations (including without limitation anti-spam laws and any relevant data protection or privacy laws).
4. Local Laws

9.1 These Terms will not be excluded to the extent that such exclusion is prohibited by the laws of the jurisdiction where you reside and where those laws confer rights and remedies and imply terms into these Terms that cannot be excluded.

9.2 If a jurisdiction does not allow an exclusion or limitation of liability, but allows a limitation to a certain maximum extent, then our liability is limited to that extent.

9.3 If any provision in these Terms is invalid under any law the provision will be limited, narrowed, construed or altered as necessary to render it valid but only to the extent necessary to achieve validity. 9.4 If necessary the invalid provision will be deleted from these Terms and the remaining provisions will remain in full force and effect.

10. Validity

10.1 If any provision of these Terms is deemed unlawful, void, or for any reason unenforceable, that provision will be deemed severable from these Terms and will not affect the validity and enforceability of any remaining provisions.

11. No Waiver

11.1 A failure by us to act with respect to a breach by you or any third party does not waive our right to act with respect to subsequent or similar breaches.

12. Entire agreement

12.1 This Agreement and all documents referenced in this Agreement comprise the entire agreement between you and us in relation to your use of our Services and supersede all prior agreements between the parties.

13. Governing Law

13.1 The laws of Queensland govern any agreement formed under these Terms and the parties irrevocably submit to the jurisdiction of the courts of that State.

Website Terms & Conditions

Welcome to McLeod Pacific Investments Pty ltd (herein referred to as MPI) website – www.mcleodpacific.com.au.

Once you continue to browse and use this website, you are agreeing to comply with and be bound by the following terms and conditions of use, which together with our privacy policy and terms of trade govern our relationship with you in relation to this website. If you disagree with any part of these terms and conditions, please do not use our website.

The use of this website is subject to the following terms and conditions:

The content of the pages of this website is for your general information and use only. It is subject to change without notice.

Disclaimer

The information contained in this website has been prepared for general information only and does not contain and is not to be taken as containing any securities advice or securities recommendation. MPI are not a registered securities firm nor are we registered to offer financial advice. It is not intended that the Information be relied on by recipients for the purpose of making investment decisions. McLeod Pacific does not give any warranty as to the accuracy, reliability, or completeness of the Information and accepts no respnsibility for updating or correcting any part of the Information.

MPI and its associates do not accept any liability (whether arising in contract, or tort, or negligence or otherwise) for any error, omission or misrepresentation in relation to the Information or for any loss, damage, cost or expense (whether direct, indirect, consequential or otherwise) incurred by any person whatsoever arising out of or referable to the Information on this website or accessed through this website.

Neither we nor any third parties provide any warranty or guarantee as to the accuracy, timeliness, performance, completeness or suitability of the information and materials found or offered on this website for any particular purpose. You acknowledge that such information and materials may contain inaccuracies or errors and we expressly exclude liability for any such inaccuracies or errors to the fullest extent permitted by law.

Privacy

MPI is the sole owner of all information collected on this website. You acknowledge and consent that any information provided to MPI in connection with the use of this website may be used by MPI for its own purposes, including but not limited to marketing purposes, planning, product development and research purposes. MPI may release this Information to third parties if required under any applicable law. Please read through our Privacy Policy for more information.

Links

This website contains links to other websites. MPI does not accept any liability for the availability of, or any content or material contained in or obtained through such websites or for the privacy practices of such websites.

Dispute

Your use of this website and any dispute arising out of such use of the website is subject to the laws of Queensland, Australia.

Pricing

All prices, if quoted, are inclusive of GST unless otherwise mentioned.