TERMS OF SERVICE FOR tgtcoins.com ICO
Last Updated on June 30, 2017
Target Coin (hereinafter referred to as 'tgt coins', or 'tgt tokens', or 'tgt digital tokens', or 'the tgtcoins.com', or 'TGT') Initial Coin Offering (ICO) of tgt tokens on our website i.e. .
The following terminology applies to these Terms and Conditions of Use (our “Terms”), the Privacy and Transparency Statement, and any and all other agreements between you and us:
“Client,” or “Customer,” or “User,” or “You,” or “Your” refer to the person accessing our website i.e. , and accepting our Terms.
"We", or "Our", or "Ourselves", or "Us" or “tgtcoins.com,” or “,” refer to the internet website tgtcoins.com, and to its owners, operators, employees, officers, agents, insurers, suppliers, and attorneys.
“Party” refers to either you or us. In these Terms, unless the context otherwise provide, words indicating the singular shall be understood to include the plural and vice versa and words indicating gender include all genders. “Digital asset,” “asset,” “coin,” “digital currency,” “good,” “ledger entry,” and “token” refer to blockchain-based software ledger data entries.
By using our website, you covenant, represent and warrant that you are at least 18 years old or a major of the respective laws, and have full capacity to contract under applicable laws and you are not citizen of United States of America (USA) and you are comporting with and / or obeying with all applicable laws; only transacting on tgtcoins.com with legally-obtained funds that belong to you. Further by using our website, you covenant, represent and warrant that you are not furthering, or performing, or undertaking, or engaging in, or aiding, or abetting or involving or adhering to connivance methods of any unlawful activity through your relationship with us or through your use of tgtcoins.com..
We reserve the right to terminate your access to tgtcoins.com for any reason, including but not limited to breaches of our Terms, at our sole and absolute discretion.
be treated as and deemed as a Declaration given by you that you have complied with all the
applicable laws and you are eligible for investing in the ICO.
Acquiring tgt tokens carry financial and legal risk. You are only allowed to purchase Tgt tokens if you are neither a citizen of United States of America (USA) or permanent resident of the USA, nor have a primary residence or domicile in USA, including Puerto Rico, the U.S. Virgin Islands, and any other territories of the USA. We shall not be liable or responsible for any damages, or claims, or losses, or injuries, or delays, or accidents, or costs, or business interruption costs, or any other expenses (including, without limitation, attorneys’ fees or the costs of any claim or suit), or for any incidental, or direct, or indirect, or general, or special, or punitive, or exemplary, or consequential damages, or loss of goodwill or business profits, or loss of digital currency or digital assets, or work stoppage, or data loss, or computer failure or malfunction, or any other commercial or other losses directly or indirectly arising out of or related to our Terms; the Privacy and Transparency Statement; any service of tgtcoins.com; the use of tgtcoins.com; the use of tgt tokens; any use of your digital assets or digital currency on tgtcoins.com by any other party not authorized by you (all of the foregoing items shall be referred to herein as “ Losses”). We are hereby released by you from any liability for any and / or all Losses. We disclaim any and / or all warranties or guarantees, including any warranty of merchantability and / or warranty of fitness for any particular purpose. The foregoing limitations of liability shall apply whether the alleged liability or Losses are based on contract, or negligence, or tort, or strict liability, or any other basis, even if we have been advised of or should have known of the possibility of such losses and / or damages, and without regard to the success or effectiveness of other remedies.
3.1 ICO Duration
The ICO Period starts on July 15, 2017 and ends August 31, 2017
The coins or tokens which are not subscribed for during the entire ICO will be cancelled and destroyed at the end of ICO i.e. after August 31, 2017.
We reserve the right to change the start date of the ICO as well as the right to extend the sale duration for any reason, including , failure to complete the sale of tgt tokens designated for offer, the unavailability of the tgtcoins.com ICO website, or other unforeseen security or procedural issues.
3.2 Number of Coins and Valuation of TGT Token
We plan to sell 1.34 Billion tgt coins issued during the ICO. The price of the TGTcoin is fixed at ETH 0.000133( US $0.04) . The coins or tokens which are not subscribed for during the entire ICO will be kept in abyss.
3.3 ICO Portal
The ICO will be conducted through our website www.tgtcoins.com and users will have to send Ethereum ( ETH) from an Ethereum Wallet to TGT Coin crowd sale address.
How to Invest:
Investors can subscribe to the ICO and purchase tokens through www.tgtcoins.com .
Tokens can be purchased using Ethereum(ETH) or Bitcoin(BTC).
All the funds received during the period of ICO i.e. during July 15, 2017 to August 31, 2017 will be sent to and maintained in the specified escrow services for safe-keeping and contingent distribution.
ICO Coin Distribution of tgt tokens
All TGT digital tokens purchased or received during the ICO will be distributed forthwith and immediately on confirmation.
Bifurcation / Segregation of funds received through ICO:
The amount of coins that are created for the TGT chain are all dependent on how many coins are subscribed during the ICO. At this point of time, the Management team owns and holds 13% i.e. 260 Million tgt tokens and pre-ICO investors owns and holds 20% i.e. 400 Million tgt tokens.
As we cannot determine the total tgt coins that will be subscribed, the ICO operates based on percentages to ensure fairness for all. The ICO percentages are as follows.
● 90% of the amount received through ICO will be used to build the portfolio;
● 10% of the amount received through ICO will be transferred to Developers, employees,
owners, promoters, officers, agents as their fees.
After the end of fourth quarter from the date of commencement of operations i.e. September 10, 2017; 10% p.a. of the Fund NAV will be payable to Developers, employees, owners, promoters, officers, agents as their fees.
Listing of TGT Coins or Tokens
After the completion of ICO, the coins shall be listed on multiple exchanges.
Prices, Exchange Rates, and Confirmations
Digital currency and digital assets are highly experimental and risky. The conversion service available on tgtcoins.com to convert to or from Bitcoin and / or alternative digital currencies attempts to provide accurate price and exchange rate information, but this information is highly volatile and can change quickly without users necessarily being aware of these changes. We regard digital currency payments as “accepted” when one block confirmation has been registered, however, due to varying security between blockchains, we reserve the right to require additional block confirmations to reduce risk of fraudulent double spending attempts or errors related to forks. We may occasionally accept a payment with zero confirmations, though this decision is at our sole discretion. It is important to note that a payment being broadcast to the blockchain network does not constitute an acceptance by us of that payment. The User’s payment must be received by us within a period of 20 minutes in order to receive the guaranteed exchange rate. Please contact our customer support available on our website i.e. www.tgtcoins.com for more information on exchange rates.
Digital currencies, tokens, and digital assets are, by their nature, generally irreversible, and their exchange rates are highly volatile and transitory. For these reasons, customers may not receive refunds for confirmed transactions. In an event where the subscription to our ICO is less than 250000 USD, the number of coins invested shall be returned to the investors. We shall not be liable for any rate difference that may occur during this period.
Profits will be equally spread out in proportion to the number of outstanding tokens to the respective investor. The Profits shall be shared within 15 days from the end of every quarter. We shall announce or disclose a cut off date and time in every quarter. The investors who are holding tgt coins on the cut off date will be eligible for the Profit Sharing irrespective of number of days for which the investor holds the tgt coins. A minimum bonus of 0.75% per quarter will be credited to the investors who are holding tgt coins on the cut off date. The investors with larger share of tokens will collect a higher profit. TGTCoin’s model rewards its investors every quarter 85% of the net profits buying back tokens from the investors. Professional Fees / Performance Fees for managing the portfolio will be 15%. The details of Profit Sharing are more particularly mentioned in the White Paper.
Fraudulent attempts to double spend
We and our affiliates will monitor all potential transactions and / or fraudulent attempts to double spend Bitcoin. When any double spending of Bitcoin or any other digital currency or asset accepted in the ICO is detected, no TGT Tokens (TGT) will be distributed to the associated blockchain wallet address or tgtcoins.com ledger based wallet. By attempting to gain TGT Token fraudulently through double spending, an ICO participant jeopardizes all Bitcoin or other digital currency or asset associated with the blockchain wallet address, as no TGT assets will be distributed to the account associated with that bitcoin or digital currency or asset address. Users deemed to have engaged in fraudulent behavior or attempted fraudulent behavior forfeit any potential refunds of their assets or digital currency.
The Agreement and these Conditions shall be governed by and construed in accordance with the laws of India, and any and all laws applicable therein.
The tgtcoins.com or tgt tokens are to be purchased by persons who want us to manage their funds. You are prohibited from purchasing tgtcoins.com for any other purpose apart from the one mentioned above.
We reserve the right to change or modify the Terms of Service so as to carry out the compliance and that the same is in accordance with any new laws or regulations or rules or circulars or notifications or orders which may come into force, and / or to comply with the changes or amendments made in the existing laws or regulations or rules or circulars or notifications or orders.
We may revise our Terms at any time and without notice to you or third parties. By using the website , you agree to be bound by the then and / or-current version of our Terms. However, the terms of pertaining to percentage of Profit Sharing and percentage of Operational cost and other expenses will not change.
From time to time, we may need to spend time dealing with issues brought to us by customers. Where any customer issue is not caused by our negligence or oversight, we reserve the right to recover reasonable administrative costs spent addressing the customer issue, including costs related to technology deployed to address the customer’s issue and compensation provided for our customer service representative’s labor hours.
Privacy and Transparency Statement
We respect the privacy of our Users by not requesting any information that is unnecessary for the use of the service or to comport with our obligations under applicable law. You accept that we will generally comply with all reasonable legal requests for information from it. We reserve the right to provide information to law enforcement personnel and other third parties to answer inquiries; to respond to legal process; to respond to the order of a court of competent jurisdiction and those exercising the court’s authority; and, to protect us and our users.
The investor(s) agrees to Indemnify us for all costs and / or expenses including but not limited to fees, penalties, damages, losses, injuries, delays, attorney fees, lawyer fees, professional fees or any other costs or expenses or fees, by whatever name called and whether direct or indirect, in case the same is levied on us by any person; in case the respective investor(s) has invested in our token i.e. tgt coins, without considering the restrictions or terms or limitations (as specified in Point 1 & 2) placed on him / her or with illegal funds or with double spending or any other illegal or unethical manner.