Last update: April 10, 2023
Beans is a Dutch platform, where you can access the following Services regarding a variety of Digital Assets: earn, send, request payments, convert currency. You can use the Services of Beans through our App. The App is available for both iOS and Android.
The Beans Platform is provided by Beans B.V., registered with the Chamber of Commerce under number 86350269.
On the Beans Platform, Services are offered by Beans B.V..
Beans Platform is not under supervision of the AFM and DNB. We are not a bank or a credit institution within the meaning of the Wft or otherwise. Consequently, the deposit guarantee scheme and the investor compensation scheme do not apply on the Services offered through the Beans Platform. This also means that we are not a crypto service provider within the meaning of the Wwft. Accordingly, we are not registered as a crypto service provider with DNB.
We want our General Terms and Conditions to be clear. Therefore, we write them as simply as possible. However, the General Terms and Conditions do deal with legal topics. For this reason, we sometimes have to use legal terms. If anything is unclear to you, you can call us, email us or chat with us. Our contact details are on our Website, in our App and at the bottom of this document.
Some words or abbreviations in these General Terms and Conditions are capitalised. We do this to show that such a word has a particular meaning in these General Terms and Conditions. The below includes a list of the meanings of the words that we capitalise in these General Terms and Conditions.
We also explain in this list who we mean by “we” (or “us”/”our”). And we explain who we mean by “you” (or “your”/”yourself”). However, in these General Terms and Conditions, we write these words in lower case. That makes it easier to read.
These General Terms and Conditions always apply when you use the Beans Platform. These General Terms and Conditions apply as well if you only visit the Website or download the App. These Terms and Conditions also apply when you contact us about anything related to the use of the Website, the App or the Beans Platform.
You can only use the Beans Platform with our permission. By registering an Account, you are asking our permission to use the Beans Platform. Our permission is given when we accept you as a client. Accepting you as a client creates a User Agreement between you and us.
Our permission to use the Beans Platform has its conditions. Those conditions are described in these General Terms and Conditions. We may also require certain actions or information on the Website or in the App to be taken in order to use the Beans Platform. This is to ensure that the Beans Platform continues to work as well and securely as possible.
We may amend the General Terms and Conditions and the operation of the Website and App from time to time. For example:
If we change anything, you may close your Account on the Beans Platform at any time. If we want to change the General Terms and Conditions, we will send you a notification at least two weeks in advance. If you continue to use the Beans Platform after that, it means that you agree with the new General Terms and Conditions and they will apply to you.
The General Terms and Conditions apply to all Services offered on the Beans Platform. There may be other service providers offering Services on the Beans Platform in the future. Or we may sell our business to another company in the future. In that case, the General Terms and Conditions will also apply to the Services of those other companies and your dealings with them.
You cannot have more than one Account on the Beans Platform. If you do, it is a violation of the General Terms and Conditions. However, even if an Account is registered in violation of the Gerneral Terms and Conditions, we can still invoke the General Terms and Conditions against you.
The Beans Platform is only for people who are allowed to use the Services offered by the Beans Platform according to the laws of the Netherlands and their country of residence.
In principle we offer the Beans Platform worldwide, except for countries that have been designated as high-risk jurisdictions and jurisdictions under increased monitoring by the FATF and the United States of America.
At the time of these General Terms and Conditions (version 1.0) the most recent designation can be found here:
High-risk jurisdictions (March 2020): Democratic People’s Republic of Korea, Iran.
Source: FATF, ‘High-Risk Jurisdictions subject to a Call for Action – March 2022’, fatf-gafi.org.
Jurisdictions under increased monitoring (March 2020): Albania, Barbados, Burkina, Faso, Cambodia, Cayman Islands, Haiti, Jamaica, Jordan, Mali, Malta, Morocco, Myanmar, Nicaragua, Pakistan, Panama, Philippines, Senegal, South Sudan, Syria, Turkey, Uganda, United Arab Emirates, Yemen.
Source: FATF, ‘Jurisdictions under Increased Monitoring – March 2022’, fatf-gafi.org.
In principle we offer the Beans Platform to any adult person with power of disposition, except for persons on whom sanctions have been imposed by the United Nations, the European Union and/or the Netherlands.
At the time of these General Terms and Conditions (version 1.0) the most recent designation can be found here:
Sanctions by the United Nations (last update 13 June 2022): United Nations Security Council Consolidated List.
Source: United Nations Security Council, ‘United Nations Security Council Consolidated List’, un.org.
Sanctions by the European Union (last update 3 June 2022): EU Sanctions Map.
Source: EU Sanctions Map.
Sanctions by the United States (last update 6 June 2022): OFAC Sanctions List.
Sanctions by the Netherlands: Dutch Sanctions List (last update 15 February 2022).
Source: Dutch Sanctions List.
You must be at least 18 years old to use the Beans Platform. Does your country of residence have a higher minimum age to conduct transactions with Digital Assets, or the other Services on the Beans Platform? Then you are not allowed to use the Beans Platform until you have reached that minimum age.
You may only use the Beans Platform if you have power of disposition. ‘Power of disposition’ means that under the law, you are free to decide what to do with your Digital Assets. Therefore, you may not use the Beans Platform if:
You are not allowed to use the Beans Platform if you are subject to the same type of arrangement as bankruptcy, debt restructuring, or (protective) guardianship under the laws of your country of residence. Nor can you use the Beans Platform if the legislation of your country of residence prevents you from making decisions about your own assets for any other reason.
In some countries it is prohibited to trade Digital Assets. Do you live in a country where trading Digital Assets (or any other Service on the Beans Platform) is prohibited? Or do you have the nationality of a country that has stipulated by law that people of your nationality cannot trade Digital Assets or use any other Service on the Beans Platform? Then you are not allowed to use the Beans Platform.
At the time of these General Terms and Conditions (version 1.0) coming into effect, the use of the Beans Platform is prohibited for people from countries that have been designated as high-risk jurisdictions and jurisdictions under increased monitoring by the FATF and the United States of America (as set out under Who is eligible to use the Beans Platform?).
Only the person whose Account is registered can use the Beans Platform. Therefore, you cannot use the Beans Platform to trade Digital Assets for anyone else. You are neither allowed to use any other service on the Beans Platform for anyone else.
You may not voluntarily use the Beans Platform for the benefit of someone else.
If you register an Account on the Beans Platform, you represent and warrant to us:
You indemnify us against all damages, liabilities and other negative consequences that may occur to us as a result of (i) use of the Beans Platform in violation to these General Terms and Conditions and/or the purpose for which the use of the Beans Platform is intended, (ii) inaccuracy of information and documents provided by you to us as part of the identity verification or for any other reason, and/or (iii) breach of one or more (other) representations and warranties mentioned in the previous paragraph.
‘Indemnification’ means that you must compensate us for any damage resulting from the cases mentioned above. But it can also mean that you are obliged to help us to prevent imminent damage.
In order to use the Beans Platform, you must register for an Account to use the Services.
When registering an Account, you will receive a cryptographic private and public key. Your private key functions as a password to log in to your Account. Because our Service enables financial transactions, it is very important that you keep your keys safe.
By asking us to register an Account, you request that we accept you as a client and give you permission to use the Beans Platform. We may refuse to accept you as a client if:
If we do not accept you as a client, we are not obliged to tell you the reason.
If anything changes with regard to your country of residence or any other information you have provided to Beans, you must update your information in your Account immediately.
If there are other changes that may be important to us, you should also let us know immediately.
You must let us know immediately if you no longer have power of disposition. For example, if you are declared bankrupt, if you are subject to statutory debt restructuring for natural persons, or if you are you are placed under (protective) guardianship. Or if you are subject to the same type of arrangement as bankruptcy, debt restructuring, or (protective) guardianship under the laws of your country of residence.
You are also obliged to inform us immediately if you have debts and wish to resolve them by offering a settlement to your creditors.
U will notify us of any changes by sending an email to [email protected].
If we discover that any of the above circumstances apply to you, we may immediately block your Account, even if you have not notified us yourself. We do not need to give you prior warning of this.
Is a change in your situation causes you cease to meet the conditions for using the Beans Platform, we may terminate the User Agreement without prior notice.
The Beans Platform will provide you with an Account featuring one or more cryptographic private and public key pairs on the Stellar Network and a graphical user interface to allow you to view information about your Stellar Network wallet and generate, sign, and submit transactions to the Stellar Network.
The Stellar Network is not a part of the Services as referred to in these General Terms and Conditions. However, the Beans Wallet will enable you to undertake certain actions and activities on the Stellar Network. An account on the Stellar Network enables the account holder to hold and transfer Digital Assets, undertake certain transactions, interact with smart contracts, and otherwise transact through the Stellar Network. Activities on the Stellar Network are powered by a network of independent servers and are not controlled by us or any other single entity. We do not and cannot guarantee the successful operation, up-time, security, or functioning of the Stellar Network.
Since we do not control the Stellar Network and cannot control activity and data on the network, we cannot control the activities of you or third parties who may develop or transact on the network, validate transactions on the network, or use the network. We cannot prevent, erase, reverse, hide, fix, or otherwise change any transaction submitted on the Stellar Network. All activity and data on the Stellar Network are permanent and public.
Any access or use by you of the Stellar Network is made solely at your own risk. We bear no responsibility or liability for your use of the Stellar Network, including, without limitation, for any harm, loss, or damages arising from transactions sent to wrong Stellar addresses, incorrectly constructed transactions, software and network problems, technical failures, unauthorized access to any accounts, legal and regulatory matters and consequences, or fraud conducted by third parties.
The Beans Wallet enables you to store, view, transfer, and otherwise interact with your Digital Assets on the Stellar Network. However, we cannot and do not guarantee that the Beans Wallet and its related applications will display all Digital Assets capable of being held in an account on the Stellar Network. In providing the Beans Wallet, Beans retains the sole right to select which Digital Assets from the Stellar Network will be displayed to you via the Services.
Although it serves as the native Digital Asset on the Stellar Network, neither XLM nor any other Digital Asset held in your Beans Wallet is legal tender, backed by any government, or subject to protections or insurance. The fiat value of XLM or other Digital Assets held in your Beans Wallet may be highly volatile and may lose all value, even if such digital assets purport to track the value of real-world currency.
Beans does not control, and is not responsible for, the value of any digital assets held in your Beans Wallet and makes no representation, warranty, guarantee, or recommendation, express or implied, of its value. You will conduct independent due diligence on any Digital Asset you may acquire using the Beans Wallet and agree and acknowledge that any purchase of Digital Assets by you or on your behalf is made voluntarily, willfully, and exclusively at your own risk. We may impose limits on the total value of Digital Assets you may hold in your Beans Wallet at any time. When such limits are imposed, the quantity and value of your Digital Asset holdings in the Stellar account associated with your Beans Wallet may differ from that which is displayed on the Beans Wallet interface.
When creating a Beans Wallet, the Services generate cryptographic private and public key pairs which will comprise your account on the Stellar Network. When setting up your Beans Account you must also enroll in the Key Recovery Services.
With the Key Recovery Services, each Beans Wallet is provisioned with three associated private keys with the following weights:
As such, by using the Beans Wallet, you agree to create a separate account with, and to be bound by the terms and conditions of, the applicable KRSP. Recovery Key A and Recovery Key B are for use exclusively in connection with the Key Recovery Services facilitated by a KRSP, as described below.
Beans only controls one of the private keys for your account on the Stellar Network. We do not possess sufficient credentials to take any unilateral action with respect to such account or any balances reflected in such account. We will never take action to recover your account unless we receive a request for action that we reasonably believe was submitted by you and has been confirmed by a phone number or email that you have previously linked to your account.
You will store, outside of the Services, a backup of your User Key and all related Beans Wallet credentials, including any passphrases, mnemonic phrases, identifiers, backup phrases, private keys, and network addresses. If you do not maintain a backup of your User Key and Beans Wallet data outside of the Services, you will not be able to access the Digital Asset balance associated with your Beans Wallet on the Stellar Network in the event that Services or the Beans Wallet are disrupted or we discontinue or no longer offer some or all of the Services.
The Key Recovery Services are provided at our discretion and should not be relied upon for recovery of funds. The Key Recovery Services may not function reliably, accurately, securely, or effectively. We or a KRSP may lose or otherwise be unable to provide or use Recovery Key A or Recovery B at any time for any reason. We will not maintain nor are we responsible for maintaining any data on your behalf.
You are solely responsible for the secure storage of any Digital Assets in your Beans Wallet, your User Key, and any other related private keys in your possession. In no event Beans will be liable for the security or control of any Digital Assets, User Keys, recovery keys, or other credentials held in or related to the Beans Wallet.
The Beans Wallet provides an interface that enables you to automatically generate, sign, and submit transactions to the Stellar Network simply by using the buttons, links, and other features provided within the Beans Wallet. The Beans Wallet will use the private key information contained locally on your device to sign the transactions you initiate via the Beans Wallet.
In order to conduct any transaction on the Stellar Network via the Beans Wallet, the transaction must: (i) contain sufficient network transaction fees – denominated in XLM – for the Stellar Network to process the transaction, and (ii) be signed by private key or keys with a total weight of 20.
As such, you may conduct any transactions from the Beans Wallet solely by use of your User Key, since your User Key possesses a weight of 20. Neither Beans nor any KRSP may unilaterally conduct any transactions associated with the Beans Wallet, since the Recovery Keys each possess a weight of only 10. Once a Beans Wallet transaction has been signed by a key weight of 10 and submitted to the Stellar Network for confirmation, you cannot cancel, reverse, or change the transaction. The transaction may be suspended, delayed, redirected, reversed, or cancelled at any time for any reason or no reason by the Stellar Network, and Beans will bear no responsibility or liability resulting from any such suspension, delay, redirect, reversal, or cancellation.
The Beans Platform does charge a small fee for certain Services. When Beans outsources investing with Digital Assets to a Third Party Service Provider in order to generate yield, Beans receives the yield and subsequently shares the yield with its Users. Beans retains a small amount of the yield. The current amount of the yield is published on our Website and/or in the App.
The Beans Wallet itself does not currently charge a fee for transactions you may conduct via the Services. However, we reserve the right to do so in the future. In such case we will display to you any applicable fees prior to you incurring the fee.
Beans currently provides each Beans Wallet with sufficient XLM Reserve to cover Stellar Network transaction fees for transactions initiated via the Beans Wallet and the minimum reserves necessary for maintaining and adding trustlines or signers to the Stellar Network account tied to your Beans Account. However, in the future we may no longer do so, in which case you will be responsible for such Stellar Network transaction fees and the minimum reserves. The XLM Reserve may only be used to maintain the existence and functionality of the Stellar Network account associated with your Beans Account and may not be used for any other purpose, extracted from such Stellar Network account, or merged into another account.
The Beans Platform may provide links to Third Party Service Providers. We provide these links or integrations only as a convenience, and we do not have control over their content, do not warrant or endorse, and are not responsible for the availability or legitimacy of, or the content, products, or services on or accessible from, those websites, services, resources, or links displayed therein.
We make no warranties or representations, express or implied, about such Third Party Services, the third parties they are owned and operated by, the information contained on them, or the suitability of their products or services. You acknowledge sole responsibility for and assume all risk arising from your use of any third party websites, applications, services, or resources.
Among other Third Party Services, we may provide you with the ability to interact with Anchors on the Stellar Network from within the Beans Website or App. An Anchor is a participant on the Stellar Network that:
Any services provided by an Anchor which you can access from within the Beans Wallet, such as the ability to convert between fiat currency and Stablecoins, are the sole responsibility of such Anchor, and not Beans. Your use of any such Anchor services you will be subject to the terms and conditions specified by the Anchor.
Beans makes no representations, warranties, or endorsements regarding the services of any Anchor, and Beans expressly disclaims responsibility for any such services. You accept that there are risks with using the services of an Anchor, including without limitation, risks related to loss of funds, loss of access to digital assets, unavailability of relevant Stellar Network functionality, software bugs or errors in the Anchor’s services, inability to purchase, redeem, or convert Digital Assets, and risks related to the use or storage of any data or information you share with the Anchor.
You agree that Beans is not responsible for any loss or delay in accessing your Digital Assets when such loss or delay occurs in connection with an Anchor’s services. We (or the Anchor) may cap the maximum amount of fiat currency or Digital Assets that you may convert via an Anchor’s services accessed through the Beans Wallet, and we (or the Anchor) may increase or decrease this cap in our sole discretion without notice to you.
Via the Beans Platform you may use the Third Party Services of an Exchange Anchor. An Exchange Anchor offers eligible persons the ability to convert between fiat currency and its correlated Stablecoin or other Digital Asset. With respect to such conversion, Beans is in no way responsible for carrying out Customer Due Diligence. Instead, the responsibility resides with the Exchange Anchor.
Beans currently for example supports Anclap as the Exchange Anchor. Further information on Anclap can be found here: https://home.anclap.com/.
Other Exchange Anchors may be made available in the future, but you will not be automatically enrolled in any Exchange Anchor’s service without your prior consent.
Via the Beans Platform you may use the Third Party Services of a Yield Providing Anchor. A Yield Providing Anchor issues Stablecoins on the Stellar. For example, the Yield Providing Anchor issues yUSDC and holds 1 USDC for every 1 yUSDC on platforms that generate yield.
Beans currently supports Ultra Capital as a Yield Providing Anchor. Further information on Ultra Capital can be found here: https://ultracapital.xyz/.
Other Yield Providing Anchors may be made available in the future, but you will not be automatically enrolled in any Anchor B’s service without your prior consent.
The Stellar Network has a built-in DEX. This means that, in addition to tracking an account holder’s Digital Asset balances on the Stellar Network, an account on the Stellar Network also stores such account holder’s bids and asks among all Digital Asset pairs on the network. The DEX programmatically matches bids and asks to facilitate peer-to-peer exchanges.
Although the DEX may be accessible via the Beans Wallet, Beans is solely a graphical user interface for the DEX designed for your convenience, is not affiliated with the DEX, and is not responsible for the functionality, reliability, and security of the DEX. All DEX transactions are entirely between holders of accounts on the Stellar Network – no intermediation by Beans or any other third party is required for settlement, matching, exchange, or transfer of assets traded via the DEX.
Via the Beans Wallet and related Services, we may provide you with certain features that enable you to more efficiently conduct trades using the DEX. We reserve the right to select which trading pairs we may present to you from within the Beans Services, and we make no guarantee that we will present (or continue to present) any particular trading pair. We may, at our sole discretion: (i) require you to provide certain information prior to or to continue using the Services related to the DEX; and (ii) limit the amounts, sizes, or values of DEX transactions offered to you via the Services.
Beans currently does not support Key Recovery Services yet. The only way to back up your account during the beta is the private key in your profile. You are solely responsible to keep it somewhere safe. We cannot give you access to your account if you delete the app and have no access to the private key.
If things are going well, Digital Assets can yield positive returns. However, there are risks involved that are inherently linked to Digital Assets. We may not be able to protect you against those risks. We also do not know all the risks and therefore cannot warn you about all of them.
For example, the value of Digital Assets can change suddenly and significantly; this can be to the User’s advantage or disadvantage.
You may lose your entire deposit.
Another risk is that Digital Assets, due to their cryptographic nature, are completely and irrevocably controlled by disposition of the private key. This has advantages – such as privacy, speed and convenience – but can also be a disadvantage. For example, if a private key is lost or Digital Assets are accidentally sent to the wrong address or username, we can not reverse the transaction.
Because of the risks that are always associated with Digital Assets, you should inform yourself well before you start using the Beans Platform. Both about the technical and economic aspects of Digital Assets. But certainly, also about the risks involved.
You should only use the Beans Platform for Digital Assets that you can afford to lose.
The only existing backup is with you and the KRSP. Beans does not have access to or store passwords, recovery phrases, private keys, passphrases, transaction history, PIN, or other credentials associated with the use of the Services. We are not in a position to help you retrieve your credentials. You are solely responsible for remembering, storing and keeping your credentials in a secure location, away from prying eyes. If you lose your credentials, you will lose access to your Account and Beans Wallet and consequently to your Digital Assets.
You understand that conducting transactions that involve the DEX, Anchors, or any KRSP will inherently carry risks associated with third parties that Beans does not and cannot control. You understand and acknowledge that the ability to transact with the DEX, with any Anchor, or with any KRSP via the Services does not mean that Beans endorses, supports, recommends, or makes any other representation regarding such Anchor, the DEX, or such KRSP.
Unless expressly stated otherwise in these General Terms and Conditions, Beans disclaims any and all liability arising from your use of Third Party Services, your interaction with third parties, or any transactions you may conduct with third parties, whether via the Beans Website or App, the Services, or otherwise.
You understand that some of the technology supported or made available through the Services are new, untested and outside of Beans’ control. Advances in cryptography, or other technical advances such as development of quantum computers, could present risks to blockchain networks which could result in the theft or loss of Digital Assets. To the extent possible, Beans intends to update the Services to account for any advances in cryptography and to incorporate additional security measures, but does not guarantee or otherwise represent full security of the system. By using the services, you acknowledge these inherent risks.
Hackers or other groups or organisations may attempt to interfere with Bean’s products and information systems in several ways, including without limitation denial of service attacks, side-channel attacks, spoofing, smurfing, malware attacks, or consensus-based attacks. These risks may cause you to lose all the Digital Assets held in your Beans Wallet.
Stellar Network applications are code subject to flaws. You are solely responsible for evaluating any code provided by the Services and the trustworthiness of any third party websites, products, smart-contracts, or content you access or use through the Services.
In the event of a network disruption of the Stellar Network or any other applicable network, Beans or the Services may not be able to support activity related to your account on the Stellar Network. In the event of a network disruption, transactions may not be completed, or they may be completed partially, incorrectly completed, or substantially delayed. These risks may cause you to lose all the Digital Assets held in your Beans Wallet. Beans is not responsible for any loss caused by network disruption.
Digital Assets are highly volatile due to many factors including but not limited to adoption, speculation, technology, and security risks. You could lose all value. Also, the cost of transacting on distributed ledgers is variable and may increase at any time causing impact to any activities taking place on the Stellar Network.
Distributed ledger technologies are subject to continuous regulatory changes and scrutiny around the world, including but not limited to anti-money laundering and financial regulations. You acknowledge that certain Services, including their availability, could be impacted by one or more regulatory requirements in the future.
We are a private, commercial company. We may decide for ourselves:
We may also decide to terminate or transfer all or part of our business, or change, limit or suspend our activities.
We will announce important changes via email, via the Website and/or via the App. In order to stay informed of any changes, it is important to log in to your Account regularly.
You may terminate the User Agreement with us at any time. You do not need to provide a reason for doing so. No notice period will be applicable.
If you want to terminate the User Agreement, you must do the following:
If you have any questions about closing your Account, you can contact us at [email protected].
We must retain the data in your Account for some time after you close the Account. Please read our Privacy Statement for this purpose.
We may also terminate the User Agreement with you without providing a reason. In the case of termination without providing a reason, we do apply a notice period of four weeks.
In some cases, we may terminate the User Agreement with you without prior notice. Namely in the following circumstances:
If we terminate the User Agreement, your Digital Assets held in your Beans Wallet will be disbursed to you. If we terminate the User Agreement we will ask you to which wallet we can transfer the Digital Assets to. You must respond to this within 14 days. If you do not respond within this period, you will not be able to access your Digital Assets on the Stellar Network via your Account. Instead, you can access your Digital Assets via a back-up file from another service as further described on our Website.
Sometimes there may be a legal reason why we are not allowed to pay anything to you. For example, if someone (a creditor or the public prosecutor) has attached your Digital Assets. Or if you are bankrupt, you are subject to statutory debt rescheduling for natural persons, you are placed under (protective) guardianship, or for any other reason you no longer have the power if disposition. In that case the Beans Platform will deal with your Digital Assets balance as required by law in the relevant circumstances.
We may discover indications that something may be wrong with an Account. We then need to investigate. If there are indications that something may be wrong with your Account, we may temporarily block your Account. For example, under these circumstances:
As long as your Account is blocked, you cannot access any Services and cannot terminate your Account. Therefore, you cannot transfer any Digital Assets either.
This provision deals with our liability if something unexpectedly goes wrong on the Beans Platform.
Beans will not be liable for any indirect, incidental, consequential, special, exemplary, or punitive damages arising out of or in connection with these General Terms and Conditions, the Services, the Stellar Network, the Beans Wallet, or any Digital Assets associated with the Services.
We are never liable for:
Such limitation of liability shall apply whether the damages arise from use or misuse of and reliance on Beans or the Services, notwithstanding any failure of essential purpose or any limited remedy and to the fullest extent permitted by law.
If you are dissatisfied with your sole and exclusive remedy will be for you to discontinue your use of the Services.
Some jurisdictions do not allow the exclusion or limitation of incidental lor consequential damages, so the above limitation and exclusion may not apply to you.
There may situations that are not covered by these General Terms and Conditions. If that is the case, we will carefully weigh your interests against our own. We may then decide how to deal with such a situation, and you must comply with that. This is only different if it is laid down by law.
In some situations, we may deviate from these General Terms and Conditions. For example, if it is necessary to ensure that the Beans Platform remains secure, or to comply with the law. We may also deviate from the General Terms and Conditions if we have another compelling interest in doing so.
Because we are based in The Netherlands, the User Agreement, the General Terms and Conditions and all our offers, notices and Service, as well as any dispute or claim arising out of, or in connection with it, or its subject matter or formation (including non-contractual disputes or claims) are solely subject to Dutch law. We exclude the Vienna Convention on Contracts for the International Sale of Goods and any other international treaties that have direct effect in the Netherlands.
We may choose to submit the dispute to the Amsterdam District Court. If we intend to do so, we will let you know.
This can be done by email or through an official document from the bailiff. Do you live outside the jurisdiction of the Amsterdam District Court and would you prefer us to submit the dispute to the court in your own place of residence? If so, you have one month from the time you are informed that we want to go to the Amsterdam District Court to let us know. If you do not object within that month, the dispute will proceed to the Amsterdam District Court.
When you register an Account, you authorize us to send official communications (including legal actions) to you using the email address you enter in your Account. We may choose to reach you through other contact information as well, if we believe there is reason to do so. But we are not required to do so.
We only use your contact information to communicate with you about the Beans Platform. For more information, please see our Privacy Statement.
An email has legally reached you when it has been delivered to your mail server. It is your responsibility to read your emails regularly. Sometimes important emails can accidentally get stuck in your spam filter or be put in a separate folder for junk mail or advertising by your mail program. It is your responsibility to always check that carefully.
We want you to be satisfied with our Services. It is however possible that you are not satisfied. You can then submit a complaint with us. You can read how to do this in the complaints procedure on our Website.
If you have any questions about these General Terms and Conditions, the Beans Platform, or any other matters related to us, please contact us:
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Beans is a front-end software solution. Beans is not subject to supervision by the Dutch Authority for the Financial Markets (AFM) and the Dutch Central Bank (DNB). We are not a bank nor a payment service provider within the meaning of the Dutch Financial Supervision Act (Wft). Consequently, the deposit guarantee scheme does not apply to the services offered through the Beans platform. We do not provide any exchange services between virtual currencies and fiat currencies nor any custodial wallet services. This means that we are not a crypto service provider within the meaning of the Dutch Anti-Money Laundering Act (Wwft). Accordingly, we are not registered as a crypto service provider with DNB. Copyright © 2024 Beans.
