Terms & conditions for using the Mode Platform and Mode Services

Terms of Use

FIBERMODE LIMITED (hereinafter referred to as the 'Company' or ‘Fibermode’ or ‘Mode’) is a company incorporated in England under registered number 11085143, and operates the website https://modeapp.com (hereinafter referred to as the ‘Site’) and our related mobile application, an overall platform (hereinafter referred to as the 'Platform') dedicated to digital asset-only transactions and the provision of related services (hereinafter referred to as the 'Mode Services’).

Any Bitcoin that you purchase via our Platform, or that are held in your name on our Platform, are not regulated by the Financial Conduct Authority; will not be safeguarded (under the UK Electronic Money Regulations 2011) or covered by the Financial Services Compensation Scheme (‘FSCS’); and will not fall under the jurisdiction of the Financial Ombudsman Service.

Your GBP or EUR funds are e-money and not covered by the FSCS. E-money falls under the jurisdiction of FOS.

By accepting these Terms of Use (‘Terms’), you (the ‘User(s)’, or ‘you’) agree with and accept all policies published on this website as amended from time to time. IF YOU DO NOT ACCEPT THESE TERMS OF USE, DO NOT ACCESS THIS SITE OR PLATFORM AND DO NOT USE ANY OF THE SERVICES, PRODUCTS AND CONTENT THAT ARE FEATURED ON THE SITE, INLCUDING THE MODE SERVICES.  These Terms will be supplemented from time to time by the frequently asked questions (‘FAQs’) as shown on our Site and Platform.  Matters set out in the FAQs will take effect so far as necessary to add to but not vary these Terms.

1. Acceptance of Terms

1.1. Representations from you: By opening an account at the Platform, you expressly represent and warrant:

(a) you have accepted these Terms;

(b) you are not a U.S. person or a person resident in the United States of America or a citizen of or resident in any other jurisdiction where it would be unlawful for you to access the Mode Services;

(c) you are at least 18 years of age and have the full capacity to accept these Terms and enter into transactions involving digital assets.

1.2. Changes to Terms: Mode reserves the right to change, add or remove portions of these Terms, at any time, in an exercise of its sole discretion. You will be notified of any changes in advance through the Platform. Upon such notification, it is your responsibility to review the amended Terms. Your continued use of the Platform following the posting of a notice of changes to the Terms signifies that you accept and agree to the changes, and that all subsequent transactions by you will be subject to the amended Terms.

2. Mode Account/ Custodianship/ Substitution

2.1. Creation of Mode Account: In order to access and use the Mode Services, you must create an account with Mode (your ‘Mode Account’) for the purposes of storing digital assets (and fiat currencies, where applicable) on the terms and subject to the conditions set out in these Terms.

2.2. Agreement from you: You agree to:

(a) provide accurate, current and complete information when creating the account with Mode, utilising any Mode Services and processing payments through Simplex or Modulr;

(b) maintain and promptly update your account information to keep it accurate, complete, and current;

(c) maintain the security and confidentiality of your login credentials and restrict access to your accounts and your computer;

(d) promptly notify Mode if you discover or otherwise suspect any security breaches related to the Platform or any of the Mode Services; and

(e) take responsibility for all activities that occur under your accounts and accept all risks of unauthorised access.

2.3. Your Mode Account stores the digital assets that you buy using the Mode Services. Unless the User chooses to use the Modulr Service (as defined below) the terms of which are defined and set out in condition 2.8 of these Terms, the Mode Account will only store digital assets and not fiat balances. All fiat payments must be made through (i) the Simplex Service (as defined below) and processed by Simplex either directly from the User’s credit or debit card or (ii) the Modulr Service. The fiat proceeds of the sale of digital assets will be paid to the Modulr e-money account of the User.

2.4. Instructions and Transactions: The User may submit an instruction to the Platform (each an ‘Instruction’) to buy, sell or withdraw digital assets (each a ‘Transaction Request’), and such Instruction will take effect as your consent to the execution of the transaction referred to in the Transaction Request (the ‘Transaction’). An Instruction will be treated as received once the User submits it to the Platform. You cannot withdraw your consent to any Transaction once you have confirmed it by selecting the relevant button in the Platform. You accept and acknowledge that each purchase of a digital asset is subject to an exchange rate, being the price of the digital asset in fiat currency.

2.5. Other fees: Mode will have no responsibility for any fees or charges that are imposed on the User by a third party in accessing Mode Services.

2.6. Bitgo as custodian: We use the services of Bitgo https://www.bitgo.com/ as the main custodian for the storage of digital assets in Mode Accounts on the terms set out in the Bitgo terms of use as the same may be applied from time to time (‘Bitgo Terms’). The current Bitgo Terms may be viewed on https://www.bitgo.com/terms. Your acceptance of these Terms is deemed acceptance of the Bitgo Terms.

2.7. Replacement of custodian: Mode may from time to time replace Bitgo as custodian with a new custodian and if Mode does so will notify the User by notice on the Platform. Following any such replacement the terms of use of the new custodian will apply in substitution for the Bitgo Terms and in such cases these Terms will be read as if all references to the Bitgo Terms were the terms of use of the new custodian.

2.8. Modulr: Mode provides an option for Users to use the services of Modulr https://www.modulrfinance.com (‘Modulr Service’) as an e-money service for holding GBP and EUR balances and making GBP or EUR payments, as the case may be, from User’s bank accounts for the purposes of using the Mode Services and as a provider of 'open banking' services. Use of the Modulr Service will be on the terms set out in the UK Modulr terms of use (for Users based in the United Kingdom) and the EU Modulr terms of use (for Users based in the European Union) as the same may be applied from time to time (each the ‘Modulr Terms’). The current Modulr Terms may be viewed by clicking on the Modulr Terms link provided at the time of onboarding with the Platform or in the Legals section on the Platform. Users are not required to use the Modulr Service. Your acceptance of these Terms is deemed acceptance of the Modulr Terms if you do use the Modulr Service.

2.9 Replacement of e-money service provider: Mode may replace Modulr with a new e-money service provider and if Mode does so will notify the User by notice on the Platform. Following any such replacement the terms of use of the new custodian will apply in substitution for the Modulr Terms and in such cases these Terms will be read as if all references to the Modulr Terms were the terms of use of the new e-money service provider.

2.10. Simplex: The Mode Services can also be accessed via a service provided by SimplexCC Ltd. and its affiliates (collectively, “SimplexCC”)  (the “Simplex Service”) (collectively, the “Services”) enabling you to transfer fiat payments to certain third parties, including digital asset exchange, marketplace and brokerage services carrying the Simplex Service (collectively, the “Exchange(s)”), in consideration for digital assets, by using your existing credit card or debit card (as available and applicable). Subject to your acceptance of the Simplex Services terms and conditions Mode will offer to provide you through the Platform with access via the Simplex Services to other platforms maintained by the Exchanges that match your trades with open orders from other users at your direction. Additionally, an order may be partially filled or may be filled by multiple matching orders.

2.11. Your location and provision of the services: Depending on your country of residence, you may not be able to use some or all the functions of any of the Site, the Platform, the Modulr Service, the Simplex Service or the Exchanges. It is your responsibility to follow those rules and laws in your country of residence and/or country from which you access the Site, the Platform, the Modulr Service and the Simplex Services.

2.12. Mode Services do not provide users with the ability to trade one form of fiat currency for another form of fiat currency or to trade one type of digital asset for another type of digital asset.

2.13. BTC transfers to Mode Users: You can send BTC and receive BTC from other Users. To send BTC to another User you can choose them from the contacts list in the Platform and follow the instructions. Users will only be visible in your contacts list if you already have a User’s mobile number in your phonebook (where such mobile number has been verified with Mode on their Account). Any User that you send BTC to will receive the BTC instantly. You cannot cancel a BTC transfer made between Mode Accounts. BTC transfers may be made at any time throughout the day. There are no charges or fees for BTC transfers to Mode Users.

2.14. BTC transfer limits: Limits may apply to the number of Mode Users and individual or cumulative amount of BTC you can send to other Mode Users. You will be informed of any limits on the Platform.

2.15. Refusing a BTC transfer to another Mode User: In addition to our right to suspend your Mode Account, we may refuse to complete a transfer authorised by you, where:

(a) legal or regulatory requirements prevent us from making the payment or mean that we need to carry out further checks (including where we have asked you for further information, which we reasonably believe is required for the purposes of our legal or regulatory requirements, and you have not supplied satisfactory information);

(b) you have broken these Terms in a way that we reasonably believe justifies us refusing or delaying your payment; or

(c) we believe that processing your transfer would break these Terms or that your transfer instruction doesn't contain all the information we need to transfer the BTC properly;

(d) a bankruptcy order is made against you or you've entered into an individual voluntary arrangement with your creditors;

(e) you owe us money; or

(f) we have suspended your account.


We may also refuse a BTC transfer to another Mode User if there are insufficient funds or currency – as stated in 4.4 below.

3. Transaction Fees

3.1. Transaction fee(s): Before a user completes a Transaction, a recap screen shall show the applicable transaction fee (the ‘Transaction Fee’) and the relevant exchange rate. The relevant exchange rate shall be updated every 15 seconds. By selecting ‘confirm’ the User agrees to pay the Transaction Fee(s) and exchange rate for each completed Transaction. For the purposes of determining the amount of digital assets or, as the case may be, fiat currencies required to implement a User’s selected Transaction: (a) the Transaction Fee will first be added to the digital assets and fiat currencies prior to the relevant Transaction(s) and reflected in the quotes you are given for the relevant Transaction(s); then (b) the relevant Transaction Fee(s) will be automatically deducted from the digital assets or fiat payments, as the case may be, that are subject to the relevant Transaction(s) as the relevant Transaction(s) respectively take place. Following the relevant Transaction(s) the net amount after deduction of the relevant Transaction Fee(s) will be stored in your Mode Account. For digital asset withdrawals, only a 'Blockchain Fee' shall be applicable. The latest 'Blockchain Fee' fee shall be displayed on the recap screen before the User confirms the withdrawal. The 'Blockchain Fee' is calculated based on blockchain network charges used to verify a transaction from one Bitcoin address to another.

3.2. Timing of payments: We will set out in the FAQs our best estimate about how long it will take for the payment(s) to be affected when you place an order for payment from your Mode Account using the Mode Services. The FAQs will tell you the longest time we expect it to take but we do not guarantee that the relevant Transaction(s) will take place within that time. The blockchain protocols applicable to all digital asset transactions may affect the timing of payments.

3.3. Change to Transaction Fee(s): The Transaction Fee(s), other charges, as well as the charge procedure set out above may be changed/reviewed unilaterally by Mode from time to time and such changes shall become effective the moment they are posted in the FAQs on the Platform.

4. Suspension of your Mode account

4.1. Reasons for suspension: We may (a) limit, suspend, restrict, or terminate your access to any or all the Mode Services, and/or (b) prohibit access to, deactivate or cancel your Mode account if:

(a) we are so required by law, regulation, a court order, an order of a government authority or any direction or action of a regulatory body;

(b) we reasonably suspect you of using your Mode account in connection with a prohibited use or business (including illegal activities such as money laundering, illegal gambling operations, financing terrorism, or other criminal activities);

(c) there have been attempts to gain unauthorised access to the Platform via your account or providing assistance to others' attempting to do so;

(d) use of your Mode account is subject to any pending litigation, investigation, or government proceeding and/or we perceive a heightened risk of legal or regulatory non-compliance associated with your account activity;

(e) Simplex or Modulr are unable to support your use;

(f) we are unable to satisfactorily verify your identity and/or complete enhanced due diligence checks;

(g) you take any action that Mode deems as circumventing Mode's controls, including, but not limited to, opening multiple Mode accounts or abusing promotions which Mode may offer from time to time; or

(h) you breach these Terms.

4.2. Notification of suspension: If Mode suspends your use of Mode Services for any reason, we will provide you with notice of our actions (including, where possible, details of the nature of the suspension, the anticipated duration and anything you have to do to remedy any error or circumstances which have led to the suspension) unless we are prohibited from doing so by any law, regulation, court order or other legal process. You acknowledge that Mode's decision to take certain actions, including limiting access to, suspending, or closing your account, may be based on confidential criteria that are essential to Mode's risk management and security protocols. You agree that Mode is under no obligation to disclose the details of its risk management and security procedures to you.

4.3. Termination following suspension: Following a notice of suspension, Mode will decide whether to (i) lift the suspension on your account and you will be able to continue to use your account and the Platform in accordance with these Terms; or (ii) termination your relationship with Mode and remove your access to the Platform.

4.4. Blocking, reversing, cancelling transactions: We may refuse to complete or block, cancel or reverse a transaction authorised by you, where there are insufficient funds or currency (digital assets or fiat currency, as the case may be) to affect the relevant transaction and to satisfy the relevant fees for such transaction, or if any related payment into your account is declined.

5. Termination of your Mode account

5.1. Termination by us: We may terminate your relationship with Mode and remove your access to the Platform in accordance with 5.3 above or for any other reason, following 30 days’ notice by Mode to you. Upon termination by Mode, we will contact you notifying you of such termination and remit any amounts in your Mode Accounts to your nominated third party account(s), unless we are prohibited from doing so by any law, regulation, court order or other legal process. You shall have 30 days from the notice of termination to provide us with details of your nominated third-party account(s). If you fail to provide this information within 30 days, we reserve the right to charge an administration fee of 5% of the balance of your Mode Account, then thereafter the administration fee will apply on the first day of every following calendar month until the account balance is reduced to zero. If you provide the details before your balance reaches zero, you shall receive the remaining balance of your Mode Account.

5.2. Termination by you: If you no longer want to use the Platform and Mode Services, provided you have no outstanding amounts in any of your Mode accounts and following proper settlement of all pending transactions and discharge of any liabilities, you can notify us at any time and we terminate your Mode account. We will treat your notice as notice of termination of this agreement between us. Any amounts in your Mode accounts will first need to be withdrawn by you using the normal withdrawal methods. You shall have 30 days from the notice of termination to provide us with details of your nominated third-party account(s). If you fail to provide this information within 30 days, we reserve the right to charge an administration fee of 5% of the balance of your Mode Account, then thereafter the administration fee will apply on the first day of every following calendar month until the account balance is reduced to zero. If you provide the details before your balance reaches zero, you shall receive the remaining balance of your Mode Account.

5.3. Retention of information: We reserve the right to retain any information relating to your account that we are required to retain in accordance with any applicable law or regulation.

5.4. Idle accounts: Mode also reserves the right to cancel unconfirmed accounts or accounts that have been inactive for a period of six (6) months or more, and/or to modify or discontinue our Site or service. The user agrees that Mode will not be liable to them or to any third party for termination of their account or access to the Platform.

6. Changes to Mode Services

We may, in our sole discretion and without liability to you, with or without prior notice and at any time, modify or discontinue, temporarily or permanently, any portion of our services.

7. Rules of Use

7.1. Your information: When registering for your Mode account, you must provide current, complete, and accurate information for all required elements on the registration page. If any of this information changes, it is your obligation to update such information as soon as possible. We reserve the right to maintain your account registration information after you close your account for business and regulatory compliance purposes.

7.2. Misuse of Platform: In connection with your use of services, you hereby agree that you will not:

(a) violate (or assist any other party in violating) any applicable law, statute, ordinance, or regulation;

(b) intentionally try to defraud (or assist in the defrauding of) Mode or other Mode users;

(c) provide false, inaccurate, or misleading information;

(d) take any action that interferes with, intercepts, or expropriates any system, data, or information;

(e) partake in any transaction involving the proceeds of illegal activity;

(f) transmit or upload any virus, worm, or other malicious software or program;

(g) attempt to gain unauthorised access to other Mode accounts, the Mode website, or any related networks or systems;

(h) use the services on behalf of any third party or otherwise act as an intermediary between Mode and any third parties;

(i) collect any user information from other Mode users, including, without limitation, email addresses;

(j) defame, harass, or violate the privacy or intellectual property rights of Mode or any other Mode users; or

(k) conduct any abusive or detrimental activity

(l) upload, display or transmit any messages, photos, videos or other media that contain illegal goods, pornographic, violent, obscene or copyrighted images or materials for use as an avatar, in connection with a payment or payment request, or otherwise.

7.3. Simplex Exchange: Orders placed with Exchanges using the Simplex Services may be subject to, and Mode shall have no liability for, delays, difficulties, and/or conditions affecting transmission or execution of orders over which Mode has no control, including, but not limited to, mechanical or electronic failure or market congestion or failures in the Simplex Services or the operations of Exchanges.

7.4. Keeping your account secure: You also are responsible for maintaining the confidentiality of your account information, including your password, safeguarding your own digital assets, and for all activity including transactions that are posted to your account. You must not allow a third party to make use of your account at any time. If there is suspicious activity related to your account, we may, but are not obligated, to request additional information from you, including authenticating documents, and to freeze any transactions pending our review. You are obligated to comply with these security requests or accept termination of your account. You are required to notify us immediately of any unauthorised use of your account or password, or any other breach of security by email. Any user who violates these rules may be terminated, and thereafter held liable for losses incurred by us or any user of the Platform.

8. Mode Bitcoin Jar

8.1. All digital assets that are transferred from your Bitcoin Account into your Bitcoin Jar shall accrue interest in accordance with the terms set out below.

8.2. Minimum initial transfer: The minimum initial transfer amount of digital assets into your Bitcoin Jar shall be 0.01 Bitcoin. If, at any time, the balance of your Bitcoin Jar falls below 0.01 Bitcoin, you will stop earning interest and your Bitcoin Jar shall be deemed inactive.

8.3. Interest as APY: Interest on the Bitcoin Jar shall be variable, set at our discretion and may change without prior notice. We will determine the annual percentage yield ('APY') for each week in our sole discretion, and you acknowledge that such underlying interest rate may not be equivalent to benchmark interest rates observed in the market for bank deposit accounts or any other purpose. We may announce a change to the APY, by contacting customers in accordance with these Terms. The APY shall not change more than once in a single week. The published APY reflects the interest rate and the effect of the frequency of interest compounding on a weekly basis.

8.4. Interest payment: Interest is gained every second based on a daily periodic rate applied to the digital assets in your Bitcoin Jar. Interest will be payable in arrear and added to your Bitcoin Jar on a weekly basis. We will credit your Bitcoin Jar with the interest earned each Friday. All interest will be paid in the digital asset contained in your Bitcoin Jar. Any interest payments shall be rounded to non-integer, rational numbers to the sub-cent, which is the smallest possible decimal available for the applicable digital asset.

8.5. Daily interest computation method: Daily interest is calculated every second using your daily jar balance and a daily interest rate that is derived from the current APY rate. The interest shall compound on a weekly basis.

Indicative example of weekly interest payments at 3% APY:

Week Jar Balance on Friday Interest Paid on following Friday
1 100 BTC 0.05686 BTC
2 100.05686 BTC 0.05689 BTC
3 100.11375 BTC 0.05692 BTC

8.6. Cut-off time for transfer into Bitcoin Jar: When a transfer of digital assets is made from your Bitcoin Account to your Bitcoin Jar before 10:00pm UTC, interest shall begin to accrue from 10pm. A transfer of digital assets from your Bitcoin Account to your Bitcoin Jar which occurs after 10.00pm UTC, shall be deemed to have occurred the following day and interest shall accrue on that basis.

8.7. Cut-off time for transfer out of Bitcoin Jar: You are able to withdraw any eligible amount of BTC from your Bitcoin Jar at any given time (a Bitcoin Jar Withdrawal). If you request a Bitcoin Jar Withdrawal before 10:00 PM UTC, your Bitcoin Jar Withdrawal will be processed on the same day. If you request a Bitcoin Jar Withdrawal after 10:00 PM UTC, your Bitcoin Jar Withdrawal will be processed on the next day. You will not receive interest on the BTC that is being withdrawn on the day of the Bitcoin Jar Withdrawal (we will deduct any amount shown in your app as having been accrued on that day). You shall accrue interest on any BTC remaining in your Bitcoin Jar. For example, if you make a Bitcoin Jar Withdrawal of 20% of the BTC held in your Bitcoin Jar, we will deduct 20% of the interest accrued on the day of such Bitcoin Jar Withdrawal.

8.8. Emptying your Bitcoin Jar: If you transfer all of your Bitcoin out of your Bitcoin Jar before interest is credited, you will receive the accrued interest on the following Friday.

8.9. Restrictions on interest payment: If for any regulatory or legal reason we are limited in the interest rate we may offer you (or if we are completely restricted from paying any interest to you whatsoever), the interest to which you shall be entitled will be limited accordingly.

9. Consent to use of your digital assets

9.1. Pledge, re-pledge, hypothecate, rehypothecate, sell, lend, transfer: In consideration for the interest earned on the digital assets in your Bitcoin Jar, you grant Mode the right, subject to applicable law, without further notice to you, to hold the digital assets you have deposited with Mode, in Mode’s name or in another name, and to pledge, re-pledge, hypothecate, rehypothecate, sell, lend, or otherwise transfer or use any amount of such digital assets, separately or together with other property, with all attendant rights of ownership, and for any period of time, and without retaining in Mode’s possession and/or control a like amount of digital assets or any other monies or assets, and to use or invest such Digital Assets at Mode’s own risk.

9.2. Rights in relation to use of digital assets: You acknowledge that with respect to digital assets used by Mode pursuant to this paragraph:

(a) you may not be able to exercise certain rights of ownership; and

(b) Mode may receive compensation in connection with using digital assets in its business to which you have no claim or entitlement.

10. Open Banking – GBP and EUR

10.1. Through your Mode Account, as part of the Modulr Service, you can use ‘open banking’ services to access accounts that you may have with other providers and to allow other providers to have access to your GBP and EUR held in your Mode Account.

10.2. Accessing accounts through your Mode Account: Mode works with Modulr as an authorised provider of “open banking” services, allowing you to access your accounts with other providers and initiating payments from those accounts through your Mode Account. We need authorisation from you to view information about your accounts with other providers, but we do not store any of the sensitive data you provide to us when giving that authorisation.

10.3. Accessing your Mode Account via other providers: You can allow other authorised providers to have access to information relating to your GBP and EUR accounts in your Mode Account or make payments from those accounts within your Mode Account. Our terms and conditions still apply to your use of your Mode Account, even when accessed via a third party provider. If we have any concerns about a third party provider, we might limit or prevent their access to your Mode Account information (including but not limited to concerns regarding fraud, authorisations, or legal or regulatory reasons). We would usually notify you before limiting or preventing access, but if we aren’t able to we will let you know as soon as possible afterwards. If you have any concerns regarding a third party provider accessing your Mode Account you can contact us to discuss any next steps. By using a third-party provider, you authorise them and give consent to them to have access to your relevant Mode Account information or make payments from your Mode Account on your behalf. How we share your information for these and other purposes is set out in our Privacy Policy.

10.4. Initiating payments: When using ‘open banking’ services via your Mode Account to initiate a payment from an account you hold with another provider, you must authorise us to make that payment as well. We do not store any of the sensitive data you provide to give that authorisation.

11. Intellectual Property

11.1. Property of Mode: All content on this Platform is the property of Mode and is protected by copyright, patent, trademark and any other applicable laws, unless otherwise specified hereby. The trademarks, trade names, service marks and logos of Mode and others used on the Platform are the property of Mode and its respective owners. The software, applications, text, images, graphics, data, charts, graphs, video and audio materials used on this Site belong to Mode. The trademarks and other content on the Platform should not be copied, reproduced, modified, republished, uploaded, posted, transmitted, scraped, collected or distributed in any form or by any means, no matter manual or automated, without prior written consent of Mode.

11.2. Prohibition of use of content: The use of any content from the Platform on any other site or a networked computer environment for any other purpose is strictly prohibited; any such unauthorised use may violate copyright, patent, trademark and any other applicable laws and could result in criminal or civil penalties.

11.3. Trademark: MODE is a trademark owned by the Company and allows no unauthorised use by any user or third parties. Mode supports the protection of intellectual property. If you would like to submit (i) a trademark claim for violation of a mark on which you hold a valid, registered trademark or service mark, or (ii) a copyright claim for material on which you hold a bona fide copyright, please send us an email to hello@modeapp.com

12. Privacy Policy

12.1. Please refer to the privacy policy on our website (‘Privacy Policy’) for full details.

12.2. Acceptance of Privacy Policy: We and our business partners are committed to maintaining your personal data in accordance with legal requirements relating to the collection, storage and use of personal data.  Except as required by law, or in accordance with these Terms and/ or our Privacy Policy available here, your personal information will not be passed to anyone without your permission. By accepting these Terms you so agree to the terms of our Privacy Policy. You should print and keep a copy of our Privacy Policy together with these Terms.

12.3. Data outside EEA: To provide you with certain cross-border services we may have to share your data with entities outside the United Kingdom and the EEA. By instructing us to make payments from your Mode Account or to accept payments into your Mode Account from persons or entities outside the United Kingdom or the EEA, you consent to us sharing your data with entities outside the United Kingdom or the EEA as far as this is reasonably necessary for the proper execution of the Mode Services.

12.4. Hard copy of Privacy Policy: You can request a hard copy of the Privacy Policy to be sent to you by post by contacting us on hello@modeapp.com

13. Operation of Digital Asset Protocols

13.1. Open source underlying protocols: We do not own or control the underlying software protocols which govern the operation of digital assets supported on our Platform. Generally, the underlying protocols are ‘open source’ and anyone can use, copy, modify, and distribute them.

13.2. Risk relating to underlying software protocols: We assume no responsibility for the operation of the underlying protocols, and we are not able to guarantee their functionality, security, or availability. You acknowledge and accept the risk that underlying software protocols relating to any digital assets you store in your Mode Account may change.

14. Forks

14.1. Changes to operating rules: The underlying protocols are likely to be subject to sudden changes in operating rules (‘forks’), and such forks may materially affect the value, function, and/or the name of the digital assets you store in your Mode Account. Where possible, we may provide you with notices or alerts on forks and you must read such notices or alerts received from us to consider how to deal with upcoming forks.

14.2. Risks relating to forks: However, it is your responsibility to make yourself aware of, and consider how to deal with, upcoming forks. In the event of a fork, there is a risk that we may need to temporarily suspend operations in relation to that fork without providing advance notice to you. We may, in our reasonable discretion, decline to support either or both branches of a fork. You acknowledge the risks presented by forks and you accept that we have no responsibility to assist you to move or sell an unsupported branch of a forked protocol and understand that the unsupported forked digital assets may not be made available to you.

15. Taxes

It is your responsibility to determine what, if any, taxes apply to any digital assets that you deposit or withdraw from our platform and to collect, report, and remit the correct tax to the appropriate tax authority. We may deduct or make any tax withholdings or filings that we are required by law to make, but we are not responsible for determining whether taxes apply to your transactions, or for collecting, reporting, or remitting any taxes arising from any transaction. You are responsible for complying with all applicable laws in relation to any actions you make through our platform.

16. Disclaimer of Liability

16.1. No advice: Mode is not giving investment advice, tax advice, legal advice, or other professional advice by allowing you to use the Mode Services or providing the services herein, the ability to purchase or sell digital assets or the storage of digital assets, and we do not recommend, or endorse that you purchase or sell digital assets, or make any investment. Before engaging in any transaction or investment activity, you should consult a qualified professional.

16.2. SERVICE THROUGH PARTNERS: THE SERVICES THAT WE MAKE AVAILABLE THROUGH OUR PARTNERS ARE PROVIDED TO YOU ON A STRICTLY “AS IS,” “WHERE IS” AND “WHERE AVAILABLE” BASIS. THE COMPANY DO NOT REPRESENT OR WARRANT TO THE ACCURACY, COMPLETENESS, CURRENTNESS, NON-INFRINGEMENT, MERCHANTABILITY, OR FITNESS FOR A PARTICULAR PURPOSE OF MODE OR THE INFORMATION CONTAINED THEREIN OR SERVICES CONTAINED THEREON. THE COMPANY SHALL NOT BE LIABLE TO YOU OR ANYONE ELSE FOR ANY LOSS OR INJURY RESULTING DIRECTLY OR INDIRECTLY FROM YOUR USE OF MODE OR ANY SERVICES PROVIDED BY MODE, INCLUDING ANY LOSS CAUSED IN WHOLE OR PART BY ANY INACCURACIES OR INCOMPLETENESS, DELAYS, INTERRUPTIONS, ERRORS OR OMISSIONS, INCLUDING, BUT NOT LIMITED TO, THOSE ARISING FROM THE NEGLIGENCE OF THE COMPANY OR CONTINGENCIES BEYOND THEIR CONTROL IN PROCURING, COMPILING, INTERPRETING, COMPUTING, REPORTING, OR DELIVERING MODE, THE SERVICES THEREON OR THE INFORMATION THEREIN. IN NO EVENT WILL THE COMPANY BE LIABLE TO YOU OR ANYONE ELSE FOR ANY DECISION MADE OR ACTION TAKEN BY YOU IN RELIANCE ON, OR IN CONNECTION WITH YOUR USE OF OUR PARTNERS’ SERVICES, THE SERVICES THEREON OR THE INFORMATION THEREIN.

16.3. LIMITED LIABILITY: IN NO EVENT WILL THE COMPANY BE LIABLE TO YOU, WHETHER IN CONTRACT OR TORT, FOR ANY DIRECT, SPECIAL, INDIRECT, CONSEQUENTIAL OR INCIDENTAL DAMAGES OR ANY OTHER DAMAGES OF ANY KIND EVEN IF THE COMPANY HAS BEEN ADVISED OF THE POSSIBILITY THEREOF. THIS LIMITATION ON LIABILITY INCLUDES, BUT IS NOT LIMITED TO, THE TRANSMISSION OF ANY VIRUSES WHICH MAY INFECT A USER’S EQUIPMENT, FAILURE OF MECHANICAL OR ELECTRONIC EQUIPMENT OR COMMUNICATION LINES, TELEPHONE OR OTHER INTERCONNECT PROBLEM, UNAUTHORISED ACCESS, THEFT, OPERATOR ERRORS, STRIKES OR OTHER LABOUR PROBLEMS OR ANY FORCE MAJEURE (INCLUDING BUT NOT LIMITED TO (I) ACTS OF GOD, NATURE, COURT OR GOVERNMENT; (II) FAILURE OR INTERRUPTION IN PUBLIC OR PRIVATE TELECOMMUNICATION NETWORKS, COMMUNICATION CHANNELS OR INFORMATION SYSTEMSL (III) ACTS OR OMMISSIONS OF ACTS OF A PARTY FOR WHOM WE ARE NOT RESPONSIBLE; (IV) DELAY, FAILURE, OR INTERRUPTION IN, OR UNAVAILBILITY OF, THIRD PARTY SERVICES AND SITES; (V) STRIKES, LOCK-OUTS, LABOUR DISPUTES, WARS, TERRORIST ACTS AND RIOTS; AND (VI) VIRUSES, MALWARES, OTHER MALICIOUS COMPUTER CODES OR THE HACKING OF MODE’S SYSTEMS). WE CANNOT AND DO NOT GUARANTEE CONTINUOUS, UNINTERRUPTED OR SECURE ACCESS TO MODE. WE ARE NOT RESPONSIBLE FOR ANY LOSSES YOU SUFFER AS A RESULT OF US REFUSING OR DELAYING ANY TRANSFER OR ANY OTHER TRANSACTION MADE ON THE PLATFORM.

17. Risks

17.1. Risks relating to digital assets: Digital assets transaction may be subject to high risks. These include but are not limited to:

(a) The risk of loss in trading digital assets may be substantial and losses may occur over a short period of time.

(b) The price (which can go up or down and even drop to zero) and liquidity of digital assets have been subject to large fluctuations in the past and may be subject to large fluctuations in the future.

(c) The timing of transactions may be affected by matters in the blockchain and the application of the relevant protocols.

17.2. Decisions relating to digital assets: You acknowledge that (i) you are solely responsible for determining the nature, potential value, suitability, and appropriateness of these risks for you, and that Mode does not give advice or recommendations; (ii) you are familiar with the operation of digital asset trading and have the experience required to use the Mode Services; and (iii) you are responsible for determining whether the using any of the services offered by Mode, is legal in your jurisdiction and you shall not use any such services if such use is illegal.

17.3. We cannot and do not guarantee the timeliness, accuracy or completeness of any information (whether pricing, exchange rate or otherwise) provided in connection with any digital asset or your holding or trading of or in the same.

17.4. Regulation and law relation to digital assets: Legislative and regulatory changes or actions at the national or international level may adversely affect the use, transfer, exchange and value of digital assets. It is possible that in the future, certain laws, regulations, policies or rules relating to digital assets may be implemented, which would directly or indirectly affect or restrict your interaction with Mode and Mode Services. Mode will use its sole and absolute discretion to reject specific applications to open Accounts and/or allow Users to use part or all of the Mode Services, where Mode determines that regulatory or policy reasons prevent Mode from being able to offer its Mode Services.

18. Indemnity

You agree to indemnify and hold harmless Mode from any claim, demand, action, damage, loss, cost or expense, including without limitation reasonable legal fees, arising out or relating to your violation of these Terms; or your violation of the terms of use of the Simplex Services, the Exchanges, the Modulr Services or any rights of any other person or entity.

19. Notifications

You understand and agree that all communication with you will be via electronic communication, including emails, site messages, Platform notices and SMS and we will use those means to provide you with account-related notices and order receipts. To ensure that you receive all our communications, you agree to keep your email address up-to-date and notify us immediately if there are any changes. Delivery of any notice to the email address/mobile number on record with your user account will be considered valid. If any email is returned as undeliverable, we retain the right to block access to your user account until you provide and confirm a new email address.

20. Jurisdiction

20.1. Governing law: These Terms shall be governed and construed in accordance with the law of England and Wales.

20.2. Jurisdiction: Unless any alternative dispute resolution procedure is agreed between the parties, the parties agree to submit to the exclusive jurisdiction of the Courts of England and Wales in respect of any dispute which arises out of or under this Agreement.

21. Miscellaneous

21.1. Entire agreement: These Terms contain the entire agreement and supersede all prior and contemporaneous understandings between the parties regarding the Mode Services. These Terms do not alter the terms or conditions of any other electronic or written agreement you may have with Mode for Mode Services. In the event of any conflict between these Terms and any other agreement you may have with Mode, the terms of that other agreement will control only if these Terms are specifically identified and declared to be overridden by such other agreement.

21.2. No agency: These Terms do not, and shall not be construed to create any relationship, partnership, joint venture, employer-employee, agency, or franchisor-franchisee relationship between Mode and you.

21.3. Assignment: Mode may assign its rights and obligations hereunder and/or transfer ownership rights and title in the Service to a third party without your consent or prior notice to you. Your rights and obligations under the Terms are not assignable. Any attempted or actual assignment thereof without Mode’s prior explicit and written consent will be null and void.

21.4. Severable clauses: If any provision of these Terms is found to be unlawful, void, or for any reason unenforceable, then that provision will be deemed severable from these Terms and will not affect the validity and enforceability of any remaining provisions.

21.5. Waivers: No waiver by either party of any breach or default hereunder will be deemed to be a waiver of any preceding or subsequent breach or default.

21.6. Headings: Any heading, caption or section title contained herein is inserted only as a matter of convenience, and in no way defines or explains any section or provision hereof.

This notice was last reviewed 17th December 2020.

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Mode Global Holdings PLC is a public limited company incorporated and registered under the laws of England and Wales with company number 12794676 together with its group subsidiaries, Mode Global Limited, JGOO Limited and Fibermode Limited, the Mode group. Registered office of Mode Global Holdings PLC and all Mode subsidiaries: Finsgate, 5-7 Cranwood Street, London, EC1V 9EE, United Kingdom.

This website and its contents are being supplied to you solely for your information and are intended to present only background information on Fibermode Limited, its business and the industry sector in which it operates. This website and its contents do not constitute or form part of, and should not be construed as, any offer for sale or subscription of, or solicitation or any offer to buy or subscribe for or otherwise acquire, securities or tokens in any jurisdiction, or an inducement to enter into investment activity.

Fibermode Limited does not provide advice to clients. Please seek your own legal, tax or investment advice as you deem appropriate.

Fibermode Limited has been temporarily registered under the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (MLRs) as a cryptoasset business until 9 July 2021, pending the determination of our application by the UK Financial Conduct Authority (FCA).