Terms of service
Last updated: 02/01/2022
Welcome to globetreasury.com (the “Site”), a website of Globe Derivative Trading Limited, a Seychelles limited company (“Globe” “we,” or “us”). This page explains the terms by which you may use the services we make available to you on our Site or on our mobile application (collectively the “Services”).
“Company” or “You” means the legal entity that is applying for or that has opened an Account to use the Services and the individual applying for the Account. If you are the individual applying for the Account for a business, you represent and warrant that you are an authorized representative of Company with the authority to bind Company to this Agreement, and that you agree to this Agreement on Company’s behalf.
PLEASE READ THIS AGREEMENT CAREFULLY TO ENSURE THAT YOU UNDERSTAND EACH PROVISION. THIS AGREEMENT CONTAINS A MANDATORY INDIVIDUAL ARBITRATION AND CLASS ACTION/JURY TRIAL WAIVER PROVISION THAT REQUIRES THE USE OF ARBITRATION ON AN INDIVIDUAL BASIS TO RESOLVE DISPUTES, RATHER THAN JURY TRIALS OR CLASS ACTIONS.
1. Scope of the Services; Use of the Services; Eligibility
A. Eligibility. This is a contract between you and Globe. You must read and agree to these terms before using the Services. If you do not agree, you may not apply for an Account or use the Services. You may only apply for an Account or use the Services for business purposes, if you are a legal entity formed and registered in the United States, or other countries we service and can form a binding contract with Globe and only in compliance with this Agreement and all applicable local, state, national, and international laws, rules and regulations. Any use of or access to the Services for consumer or non-commercial purposes, by anyone under 18 is strictly prohibited and in violation of this Agreement. There may be other eligibility requirements applicable to specific Services.
B. Scope of the Services. Your Account gives you access to various treasury Services on the Site and other treasury services as made available from time-to-time by Globe and any other functionality that we may establish and maintain from time to time and in our sole discretion. Your Account explicitly does not provide you access to derivatives trading, spot trading, Globe Gems or any of our other services that require you to deposit cryptocurrency.
C. Applying for an Account. You will need to provide Company information and certain personal information (collectively, “Company Information”), when you apply for an Account for business purposes. Company Information may include your registered business name and state of incorporation, the business address, ownership details, the nature of the business, and other business information we may request from time to time; the name, contact information, and date of birth of beneficial owners and certain other personnel, and other personal information; and a corporate registration certificate, proof of address, personal identification, and any other documentary information used to verify business and personal information. We may provide Company Information to third-party service providers to determine your eligibility for the Services. We rely on the accuracy of the Company Information you provide us when opening and maintaining your Account. We may deny your applications, suspend provision of the Services to you, or close your Account if Company Information is out of date, incomplete, or inaccurate. At any time during the term of this Agreement and as part of your use of the Services, we may require additional Company Information from you to verify your identity and the identity of your business, to obtain other information about your business, to open and maintain accounts and aspects of the Services, to assess your financial condition, and to evaluate the risks associated with your business. You expressly consent and authorize us to retrieve additional Company Information about Company and its owners or directors from our vendors and other third parties to solely to assess the history and risks of the business and to prevent fraud, including by obtaining information from credit reporting agencies and information bureaus, and you authorize and direct such third parties to compile and provide such information to us. You acknowledge that this may include names, addresses, credit history, and other data. You acknowledge that we may use Company Information to verify any other information you provide to us, and that any information we collect may affect our assessment of your overall risk to our business.
D. Account Management and Security. You are solely responsible for the activity that occurs on your Account, and you must keep your Account password secure. We encourage you to use “strong” passwords (for recommendations on what constitutes a strong password, check NIST SP 800-63B) with your Account. You must notify Globe immediately of any breach of security or unauthorized use of your Account. Globe will not be liable for any losses caused by any unauthorized use of your Account. We may suspend access to your Account if we believe that your Account has been compromised.
E. Prohibitions. You may not use the Account or the Services (a) for any purpose that is unlawful or prohibited by this Agreement; (b) for any personal, family, household, or other use that is not related to Company’s business purpose in case of a business Account; (c) for the benefit of an individual, organization, or country identified on the United States Office of Foreign Assets Control’s Specially Designated Nationals List; (d) for any third parties unaffiliated with Company; (e) to systematically retrieve data or other content from the Site to create or compile, directly or indirectly, a collection, compilation, database, or directory without written authorization from Globe; (f) to trick, defraud, or mislead us and other users, especially in any attempt to learn sensitive account information; (g) to circumvent, disable, or otherwise interfere with security-related features of the Site, including features that prevent or restrict the use or copying of any Content or enforce limitations on the use of the Site and /or the Content contained therein; (h) to disparage, tarnish, or otherwise harm, in our opinion, us and/or the Site; (i) to use any information obtained from the Site in order to harass, abuse, or harm another person; (j) to make improper use of our support services or submit false reports of abuse or misconduct; (k) to use the site in a manner inconsistent with any applicable laws or regulations; (l) to engage in unauthorized framing of or linking to the Site; (m) to upload or transmit (or attempt to upload or transmit) viruses, Trojan horses, or other material, that interferes with an uninterrupted use and enjoyment of the Site or modifies, impairs, disrupts, alters, or interferes with the use, features, functions, operation or maintenance of the Site; (n) to delete the copyright or other proprietary rights notice from any Content; (o) to attempt to impersonate another user or person or use the username of another user; (p) to sell or otherwise transfer your profile; (q) to upload or transmit (or attempt to upload or transmit) any material that acts as passive or active information collection or transmission mechanism, including without limitation, web bugs, cookies or other similar devices (sometimes referred to as "spyware" or "passive collection mechanisms" or "pcms"); (r) to interfere with, disrupt, or create an undue burden on the Site or the networks or services connected to the Site; (s) to harass, annoy, intimidate or threaten any of our employees or agents engaged in providing any portion of the Site to you; (t) to attempt to bypass any measures of the Site designed to prevent or restrict access to the Site, or any portions of the Site; (u) to copy or adapt the Site's software; (v) to decipher, decompile, disassemble, or reverse engineer any of the software comprising or in any way making up a part of the Site; (w) except as may be the result of standard search engine or internet browser usage, to use launch, develop, or distribute any automated system; (x) to make an unauthorized use of the Site, including creating user account by automated means or under false pretenses, or (y) use the site as part of any effort to compete with us or otherwise use the site and/or the content or any revenue-generating, endeavor or commercial enterprise.
F. Acceptable Use. By registering for and using the Services, you are confirming that you will not use the Services (i) to accept payments in connection with any illegal, unauthorized, or not bona fide transactions; (ii) to handle, process, or transmit funds for any third party; or (iii) to conduct any of the restricted business activities or practices listed here:
Any illegal activity, goods, or services
Money and legal services (including financial institutions, money transmission, prepaid cards, check cashing, wire transfers, money orders, currency exchanges or dealers, credit counseling services, bill pay services, crowdfunding, insurance, bail bonds, or collections agencies or collections attorneys)
Buyer or membership clubs, including dues associated with such clubs
Credit protection or identity theft protection services
Direct marketing or subscription offers or services or unauthorized multi-level marketing businesses
Internet/mail order/telephone order pharmacies or pharmacy referral services (where fulfillment of medication is performed with an Internet or telephone consultation, absent a physical visit with a physician including re-importation of pharmaceuticals from foreign countries)
Inbound or outbound telemarketers
Rebate based businesses
Betting, including lottery tickets, casino gaming chips, Fantasy Football, off-track betting, and wagers at races
High-risk products and services, including telemarketing sales
Service station merchants
Automated fuel dispensers
Adult entertainment-oriented products or services (in any medium, including Internet, telephone or printed material)
Sales of (i) firearms, firearm parts or hardware, and ammunition; or (ii) weapons and other devices designed to cause physical injury
Hate or harmful products
Internet/mail order/telephone order of age restricted products (e.g., tobacco)
We may, at any time and without notice, suspend or terminate your Account or your access to any of the Services if you engage in activities that violate the letter or spirit of this section. Our determination of whether a violation of this section has occurred will be final and binding, and any action taken with respect to enforcing this section will be at our sole discretion. We may, at our discretion, permit businesses that conduct any of the activities above to use the Services with restrictions as determined by us. Globe may modify this section at any time by posting a revised version in this Agreement.
2. The Globe Services
A. Deposit. Funds deposited are understood to be a debt line extended to Globe in U.S. Dollars to be used solely for the purpose of stablecoin yield farming and is subject to the terms of this Agreement. It is not a demand deposit account and is not covered by Federal Deposit Insurance Corporation. Globe is not a bank and you understand that funds deposited are at risk. Your Deposits will be used in connection with the provision of the other Services under this Agreement. You can direct a third party, or your external bank to electronically initiate this transfer of funds to our external bank by ACH or wire transfer.
We may refuse a deposit, or part of a deposit, at any time. We also may refuse a deposit after initially accepting it. We will not be liable to you for refusing a deposit, even if it causes us to decline any transactions you have already made.
Funds you deposit will be available for withdrawal within 5 business days. We reserve the right to extend this time period if there is an emergency, such as failure of communication or of our systems. If funds from a deposit become available and you can withdraw them, that does not mean the item you have deposited is good, has cleared, or has been paid by the paying bank. It is possible that the item will be returned unpaid months after we have made the funds available to you and you have withdrawn them.
All Deposits Are Credited Subject to Final Settlement in Cash. We have the right to forward all deposited items to correspondents including all Federal Reserve Banks, and we will not be liable for default or neglect of any correspondents for loss in transit, and no correspondent will be liable except for its own negligence. You specifically authorize us or our correspondents including the Federal Reserve Banks to handle such items in accordance with provisions of Regulation J (12 CFR Part 210), as revised or amended from time to time by the Federal Reserve Board. In the event we are subject to local clearinghouse rules, you specifically authorize us to handle such items in accordance with the rules and regulations of the clearinghouse.
Globe reserves the right to close this debt line by returning any funds deposited and may exercise this right at any time.
B. Withdraw. Withdrawal is understood to be reduction in the debt line extended to Globe and is subject to the terms of this Agreement. You may withdraw or transfer all or any part of the Available Balance in your Account at any time.
By initiating a withdrawal of funds from your Account, you authorize us to make the transaction you select. Withdrawals may be made in U.S. dollars by using the Site to authorize a transfer of funds to a Linked External Account or payee as we may permit from time to time. Withdrawals to a Linked External Account are processed as ACH or Wire transactions. Withdrawals are normally done within 5 business days. We reserve the right to extend this time period if there is an emergency, such as failure of communication or of our systems.
If you instruct us to send a fund transfer, such as an ACH transfer, we, our service providers, and every other bank involved in the transfer may rely on any bank number or account number you provide. If the fund transfer instruction gives both a bank number or account number and a name, and the name identifies a different person from the bank or account owner identified by number, we and other banks that handle the fund transfer may still rely exclusively on the number. We have no duty to detect any inconsistency between the bank number or account number and the name.
Any person who signs to open your Account or has authority to make withdrawals (including Authorized Users) may, acting alone, withdraw or transfer all or any part of your Account balance at any time. Each of you (until we receive written notice to the contrary) authorizes each other person who signs or has authority to make withdrawals to endorse any item payable to you or your order for deposit to your Account or any other transaction with us.This Agreement is subject to Article 4A of the Uniform Commercial Code Fund Transfers, as adopted in the state in which you have your Account with us. If you originate a fund transfer and you identify by name and number a beneficiary financial institution, an intermediary financial institution or a beneficiary, we and every receiving or beneficiary financial institution may rely on the identifying number to make payment. We may rely on the number even if it identifies a financial institution, person or account other than the one named. You agree to be bound by automated clearing house association rules, such as the NACHA Rules. These rules provide, among other things, that payments made to you, or originated by you, are provisional until final settlement is made through a Federal Reserve Bank or payment is otherwise made as provided in Article 4A-403(a) of the Uniform Commercial Code. If we do not receive such payment, we are entitled to a refund from you in the amount credited to your Account and the party originating such payment will not be considered to have paid the amount so credited. If we receive a payment order to credit your Account, we are not required to give you any notice of the payment order or credit.
3. USA Patriot Act Notice
In order for Globe to comply with “know your customer” and anti-money laundering rules and regulations, including without limitation, the Patriot Act, prior to providing any services to you, Globe may request your name, address, tax identification number and/or such other identification information.
4. Proprietary Rights
A. Limited License. Subject to the terms and conditions of this Agreement, you are hereby granted a non-exclusive, limited, non-transferable, freely revocable license to use the Services as permitted by the features of the Services. Globe reserves all rights not expressly granted herein in the Services and the Globe IP (as defined below). Globe may terminate this license at any time for any reason or no reason. The Services and all materials therein or transferred thereby, including, without limitation, all software, images, text, graphics, illustrations, logos, patents, trademarks, service marks, copyrights, photographs, audio, videos, music, and other content available on the Site (the “Globe IP”), and all Intellectual Property Rights related thereto, are the exclusive property of Globe and its licensors. Except as explicitly provided herein, nothing in this Agreement shall be deemed to create a license in or under any such Intellectual Property Rights, and you agree not to sell, license, rent, modify, distribute, copy, reproduce, transmit, publicly display, publicly perform, publish, adapt, edit or create derivative works from any Globe IP. Use of the Globe IP for any purpose not expressly permitted by this Agreement is strictly prohibited. For the purposes of this Agreement, “Intellectual Property Rights” means all patent rights, copyright rights, mask work rights, moral rights, rights of publicity, trademark, trade dress and service mark rights, goodwill, trade secret rights and other intellectual property rights as may now exist or hereafter come into existence, and all applications therefore and registrations, renewals and extensions thereof, under the laws of any state, country, territory or other jurisdiction.
B. Feedback. You may choose to, or we may invite you to, submit comments or ideas about the Services, including without limitation about how to improve the Services or our products (“Feedback”). By submitting any Feedback, you agree that your disclosure is gratuitous, unsolicited and without restriction, and will not place Globe under any fiduciary or other obligation, and that we are free to use your Feedback without any additional compensation to you, or to disclose your Feedback on a non-confidential basis or otherwise to anyone. You further acknowledge that, by acceptance of your submission, Globe does not waive any rights to use similar or related ideas previously known to Globe, or developed by its employees, or obtained from sources other than you.
C. Copyright Complaints. If you believe that any material on the Site infringes upon any copyright which you own or control, you may send a written notification of such infringement to our Designated Agent as set forth below:
Globe Derivative Trading Limited
Global Gateway 8, Rue de la Perle, Providence, Seychelles