BKEX Mortgage Agreement

The detailed content of loan under the Agreement is confirmed when Borrower ticks and clicks, chooses and fills in the relevant content of the service and is according to the data saved by BKEX platform (hereinafter referred as to “loan information”). This partial content may be adjusted according to the adjustment of the interest rate of token borrowing. If there is any change, the specific content published or updated on BKEX platform when signing the Agreement shall prevail.

Article 1 Definition

1.1 The Agreement: It refers to all terms, details and information in BKEX Mortgage Agreement;

1.2 Lender: It refers to the lender listed in the loan information of the Agreement and it is BKEX platform;

1.3 Borrower: It refers to the borrower listed in the loan information of the Agreement. Borrower is a natural person, legal person or other organization who can exercise the rights and bear the obligations under the Agreement with complete capacity for civil rights and capacity for civil conduct which conforms to the law regulations of the host country of BKEX platform. Borrower should be a registered borrower of BKEX platform;

Article 2 Rights and Obligations of Each Party

2.1 The rights and obligations of Lender and Borrower

2.1.1 Both parties have read carefully and understood all content of the Agreement, and voluntarily perform their own rights and obligations in accordance with the relevant provisions of the Agreement.

2.1.2 Lender has the right to know relevant information of the Borrower.

2.1.3 Any party operates to confirm the Agreement successfully on the website of BKEX platform, which will be deemed that the party accepts the content of the Agreement and terms and is bound to the content; when each party operates to confirm the Agreement successfully, the Agreement is reached.

2.1.4 When the fund which is lent to Borrower by Lender is in the Borrower’s account on BKEX platform through the service provided by the website of BKEX platform, the Agreement becomes effective.

2.1.5 Borrower should take good care of the registered Borrower’s name and password on the website of BKEX platform and bear the consequence arising from the loss and disclosure of registered Borrower’s name and password or account user allowance by others. Any party’s any operation through registered Borrower’s name and password shall be deemed as the real meaning of the Borrower.

2.1.6 Borrower should use BKEX platform’s service based on legal purpose and can’t engage in any illegal and disciplinary behavior.

2.1.7 Borrower has obligations to operate on BKEX platform in accordance with BKEX platform’s requirements and fill in Borrower’s personal information and loan information (including but not limited to E-mail address, phone number) truthfully, accurately and completely. The legal consequence and economic loss arising from personal improper operation or wrong personal information or loan information filled by the Borrower shall be borne by the Borrower himself.

2.1.8 Borrower should freeze the pledge token in the Borrower’s wallet account when signing the Agreement, which is used for mortgage loan.

2.1.9 Borrower irrevocably agrees that BKEX platform can directly deduct corresponding fund from Borrower’s wallet account to pay the Borrower’s payable interest, principal and other fees.

2.1.10 Borrower can borrow and repay at any time before the expiration under the provisions of the Agreement. Currently, it only supports one-time repayment of principal and interest accrued to repay.

2.1.11 Lender shall perform the lending obligation in accordance with the lending details specified in loan information of the Agreement and Borrower shall perform the repayment obligation in accordance with the borrowing details specified in loan information of the Agreement.

2.1.12 BKEX platform has the right to view the relevant information of Borrower’s account and repayment condition of the Borrower.

2.1.13 Borrower specially agrees: Lenders can transfer the assignment of creditor’s claim under the Agreement to a third party.

2.1.14 After the effective date of the Agreement and before all principal and interest, all liquidated damages listed on loan information (if any) and other fees are paid off, if there is any change in workplace, residential address, home phone, phone number, account information of Borrower, Lender, family contact and emergency contact, the latest information should be provided to BKEX platform within 3 days after the change. If the Borrower or any other party suffers losses arising from failing to provide latest information or providing false information, the Borrower shall bear the losses.

2.1.15 In the process of application and realization of borrowing tokens, the Borrower must provide required personal information and materials to BKEX platform strictly according to the facts, and agrees BKEX platform verifies the truth of information provided by the Borrower through any third-party channels. And the Borrower shall bear all consequence and legal responsibility when the information provided is identified as false information.

2.1.16 For the personal information provided by the Borrower and relevant personal information acquired by the Lender through legal channels, BKEX platform has the right to manage it by himself and use it for the purpose of the Agreement.

2.1.17 After successful mortgage, when BKEX platform requires the Borrower to repay according to the Agreement, the Borrower has obligations to repay in time with no condition according to the requirement of BKEX platform and provide assistance to BKEX platform.

2.1.18 Borrower agrees: If the Borrower do not pay borrowed tokens and relevant interest in full amount when the mortgage expiration, BKEX platform has the right to disclose the fact of the Borrower’s overdue repayment to any third party through the ways including but not limited to network, newspaper, magazines, television and credit system, and the Borrower specially confirms that at that time, BKEX platform can disclose the Borrower’s personal information provided by the Borrower or acquired by BKEX platform on BKEX platform.

2.1.19 Borrower can repay in advance and know the advance repayment behaviour can reduce the interest gain of the Lender. Borrower specially promises: If the Borrower repay in advance, the Borrower still need to pay the corresponding interest and other payable fees according to the interest rate corresponding to the token borrowing duration as agreed in the Agreement and actual token borrowing days. (“Advance Repayment” under the Agreement only refers to repay the borrowed tokens and corresponding interest beforehand in full amount and the Agreement does not support the repayment of partial borrowed tokens and fees.)

2.2 The rights and obligations of Guarantor

2.2.1 Scope of guarantee: The principal and interest of the borrowed tokens as well as the expenses for realizing the creditor’s rights and real rights granted by way of security (including all expenses for notarization, evaluation, appraisal, auction, litigation or arbitration, delivery, execution, attorney's agent, travel expenses, etc. incurred for recovering the loan) listed in the loan information.

2.2.2 Guarantor shall ensure that the Guarantor has the ownership right or (and) , right of management and administration, and right of disposition to pledged property in accordance with laws. The source of the pledged property is legal and effective, and there is no other burden of rights.

2.2.3 Borrower and Guarantor agree that when the Borrower does not repay all borrowed tokens and interest when exceeding the time limit, BKEX platform will trigger repayment via liquidation. Liquidation refers that BKEX will deduct partial pledged asset to obtain the principal and interest of borrowed tokens. Lender has the right to do liquidation at any time when the Borrower’s repayment is overdue.      

2.2.4 During the period of pledge, if the pledged property is damaged, lost, expropriated or the value of the pledged property is reduced due to reasons not attributable to the Lender, the insurance money, compensation money or compensation money obtained shall be regarded as the replacement of the pledged property, deposited into the account designated by the Lender to continue to be the guarantee of the main creditor's rights, or the debtor, Party A and Party B may negotiate to repay the debt in advance. The act of the Guarantor shall not reduce the value of the pledged property, otherwise the Lender shall have the right to require the guarantor to stop the act. If the act has resulted in a decrease in the value of the pledged property, the Guarantor shall restore the value of the pledged property or provide a guarantee corresponding to the reduced value within 15 days. If the Guarantor does not restore and fails to provide a guarantee as required, the Lender may dispose of the mortgaged assets, deduct the mortgaged assets and pay off the debts of borrowed tokens preferentially, and return the remaining mortgaged assets to the user if any.

2.2.6 In case of any of the following circumstances, the Lender shall have the right to dispose of the pledged property:

2.2.6.1 The debtor fails to pay off the debts due (including the debts due in advance) or there is a risk of performance ability;

2.2.6.3 The pledged property is sealed up, detained or taken other compulsory measures or supervised in accordance with law;

2.2.8 The Borrower agrees that when the Borrower realizes the pledge right, the value of the pledged property shall be calculated based on the market value on the date of disposal.

Article 3 Promise and Guarantee of Each Party

3.1 Borrower herein confirms that the Borrower is a natural person with complete capacity for civil rights and complete capacity for civil conduct and has the right to sign and perform the Agreement.

3.2 Borrower shall truthfully provide personal information (including but not limited to name, ID card number, education background, contact information, contact address, occupation information, contact information, etc.) and relevant information such as the purpose of borrowing currency according to the Lender's requirements from time to time. The borrower undertakes and warrants that all information provided to the lender is true, complete and valid.

3.3 In case of any change in the work unit, position, work place or any other event that may affect or lead to the deterioration of the Borrower's economic situation or the reduction of repayment ability, the Borrower must notify the Lender in writing within 2 working days from the date of the occurrence of the above event.

3.4 The Borrower promises that it shall not use BKEX platform to cash out, launder money or engage in other illegal and disciplinary behaviors, otherwise it shall bear the legal liabilities and consequences arising therefrom.

Article 4 Responsibility for breach of Agreement

4.1 If the Borrower causes losses to the Lender due to breach of Agreement, it shall be liable for compensation.

4.2 In case of one or more of the following circumstances, the Borrower shall be deemed to have breached the Agreement:

1) The Borrower violates any promise or guarantee made in this Agreement;

2) The important property of the Borrower is confiscated, expropriated, sealed up, seized, frozen and other adverse events that may affect its ability to perform, and the Borrower fails to give written notice to other parties in a timely manner or fails to provide effective remedial measures in a timely manner;

3) The Borrower's financial situation has adverse changes that substantially affect its ability to perform its obligations, and it fails to give written notice to other parties in a timely manner or fails to take effective remedial measures in a timely manner.

4.3 The Lender shall have the right to take one or more of the following remedies when it reasonably judges that the Borrower has or may have a default:

1) Immediately suspend or cancel the issuance of all or part of the borrowed tokens;

2) Declare that all the issued borrowed tokens are due in advance, and require the Borrower to repay all the payable fund or carry out force liquidation immediately;

3) Terminate this Agreement;

4) Take other remedies as stipulated in laws, regulations and this Agreement.

Article 5 Special Causes

5.1 Before confirming the conclusion of this Agreement, the Borrower has carefully read all the terms of this Agreement and all the legal statements, operations and applicable rules issued by the Lender, and has known, understood and accepted the above documents, and agreed to use them as the basis for determining the rights and obligations of both parties. BKEX Mortgage Rules published on the Lender's website is an essential part of this Agreement. When the Borrower accepts this Agreement, it shall be deemed that the Borrower understands and accepts all contents of BKEX Mortgage Rules. The content of this Agreement includes the text of this Agreement and various rules, statements and descriptions that have been issued or may be issued in the future by the Lender. All rules, statements and explanations shall be an integral part of the Agreement and have the same legal effect as the text of the Agreement.

5.2 The Borrower agrees that in order to ensure the security of the Borrower's account and its internal cryptocurrency, in accordance with the Agreement, the provisions of laws and regulations and legal documents, the requirements of the government in accordance with the administrative authority and the situation which may generate risks to the Borrower’s account according to the judgment of BKEX platform, BKEX platform has the right to freeze all or partial accounts under the name of the Borrower, that is to say temporarily close some or all permissions of these accounts. When freezing occurs, if the Borrower applies for unblocking, the website has the right to decide whether to allow unblocking in whole or in part in accordance with the aforementioned blocking reasons in its own judgment. The Borrower shall fully understand that the unblocking application is not necessarily allowed, and when applying for unblocking, the Borrower shall cooperate with the website to verify the identity of the Borrower, through providing including but not limited to the identity letter information, ID card, passport, other valid identification documents and other information or documents required by BKEX platform.

5.3 The Borrower's account or the digital assets in the account or the digital assets used for pledge involve civil and criminal administrative or judicial procedures. BKEX platform has the obligation to cooperate with the judicial and administrative authorities to freeze and deduct the Borrower's assets. The platform does not assume any responsibility for the above cooperation.

5.4 BKEX platform will not be liable for damages due to its inability to operate normally due to the following conditions, including but not limited to:

5.4.1 System shutdown maintenance period announced by the platform;

5.4.2 The telecommunication equipment fails to transmit data;

5.4.3 Due to typhoon, earthquake, tsunami, flood, power failure, war, terrorist attack and other force majeure factors, the platform system is blocked from performing business;

5.4.4 Service interruption or delay caused by hacker attack, computer virus invasion or attack, technical adjustment or failure of telecommunication department, website upgrade, banking problems, temporary shutdown caused by government control and other reasons affecting the normal operation of the network;

5.4.5 Losses caused by technical problems that cannot be predicted or solved by the existing technical forces of the industry;

5.4.6 Losses caused to the Borrower or other third parties due to the fault or delay of the third party.

The platform has the right to cancel the abnormal results and roll back all data for a certain period of time according to the actual situation due to the abnormal transaction, market interruption and other possible abnormal conditions caused by system failure, network reasons, DDos and other unexpected factors.

5.5 Borrower shall obey laws and regulations, and properly use and keep his account number, password, fund password, phone number bound when registering and phone verification code received by the phone on BKEX platform. Users shall bear all responsibility for any operation and consequence of using the platform account and password, capital password and mobile phone verification code. When users find that their account number, password, fund password, or verification code on the platform are used by unauthorized third parties, or there are other account security problems, they shall immediately and effectively notify BKEX platform to suspend the service of the account. BKEX platform has the right to take action on such request of the Borrower within a reasonable time, but BKEX platform shall not be liable for any loss suffered by the Borrower before taking action. Without the written consent of BKEX platform, the user shall not dispose the account on BKEX platform to others by donation, borrowing, lease, transfer or other means. If the digital assets, funds or other rights and interests of the account are damaged due to the Borrower’s failure to properly keep the password and other aforementioned behavior, it shall be deemed that the Borrower withdraws or operates the account by himself, and BKEX platform shall not bear any responsibility.

5.6 Borrower knows that the value of the digital assets may rise or fall under the influence of market factors, and the Borrower shall control the risk, evaluate the investment value and investment risk of the digital assets, and bear all the economic risks of loss.

5.7 In the use of this service, if the Borrower gets improper profits due to a potential undetected loophole in the website transaction rules, BKEX platform will contact the Borrower to recover, and the Borrower must cooperate effectively, otherwise BKEX platform will take recourse measures including but not limited to limiting account operation, freezing account funds, taking judicial procedures, etc., and the cost of recourse to BKEX platform due to the Borrower’s failure to cooperate effectively will also be borne by the Borrower.

Article 7 Application and Jurisdiction of Law

7.1 During the litigation / arbitration period, the clauses not involved in the dispute in this Agreement shall still be performed, and neither party shall refuse to perform any of its obligations under this Agreement on the grounds of dispute settlement.