OTC Service Agreement

This OTC Service Agreement (“Agreement”) is made between Basekx PTE. LTD. (“Basekx”, “the Platform”) and the user (“You”). By accessing or using Basekx’s OTC (fiat-to-crypto) services, you acknowledge that you have read, understood, and agreed to all terms of this Agreement. Basekx reserves the right to modify or update this Agreement at any time. Updated terms will take effect once published on the Platform.

1. General Requirements and Identity Verification

To use Basekx’s OTC services, you must complete identity verification (KYC). Your payment and receipt accounts must match your verified identity information. If a transaction triggers the risk-control system, you agree to provide additional documents or information. If you refuse verification or if Basekx identifies suspicious activity, the Platform may restrict, suspend, or terminate your OTC access.

2. Buyer Obligations

As an OTC buyer, you agree to:

Complete payment within the specified time using your own verified payment account. Click “I have paid” only after the actual payment has been completed. Avoid using third-party accounts for payment unless explicitly permitted by the seller. Ensure the seller receives the full amount; buyers bear transfer fees unless otherwise specified. Avoid sensitive terms such as “crypto,” “USDT,” “BTC,” or similar keywords in payment notes. Initiate an appeal through Basekx if the seller fails to release crypto after confirming receipt of payment.

3. Seller Obligations

As an OTC seller, you agree to:

Receive payments only via accounts that match your verified identity. Release crypto promptly once the full payment is confirmed, typically within the specified timeframe (e.g., 30 minutes). Not cancel orders or adjust prices unilaterally during active transactions. Not modify your receiving-account information after the order has begun. Ensure your registered mobile number and communication channels remain active during trading.

4. Risk Control and Platform Measures

Basekx actively monitors OTC activity for fraud, chargebacks, high-risk transactions, suspicious funds, abusive behavior, or violations of laws and regulations. When risk is detected, the Platform may take necessary measures, including:

Delaying asset release Holding or freezing assets Restricting or suspending OTC functions Cancelling orders Permanently closing accounts

For severe disputes, malicious behavior, or threats between users, Basekx reserves the right to refuse continued service and impose penalties.

5. Risk Disclosure and Disclaimer

OTC trading carries inherent risks, including price fluctuations, delayed payments, liquidity shortages, and counterparty default. You agree and acknowledge that:

Basekx is not a party to the fiat transaction between buyer and seller, and does not guarantee the performance of either party. All investment and trading decisions are made independently by you, and you bear all resulting gains or losses. Basekx is not responsible for losses caused by: System failures, network interruptions, or technical issues Bank or payment-service delays Regulatory changes or legal interventions Force majeure incidents 

While Basekx may assist with dispute resolution, the Platform does not guarantee the outcome of appeals.

6. Fees and Settlement

Certain OTC transactions or services may incur fees. Any applicable fees will be publicly displayed on the Platform. All settlements are based on actual executed transactions. You are responsible for ensuring that payment accounts and transaction details are accurate and compliant.

7. Amendments to the Agreement

Basekx reserves the right to amend or update this Agreement at any time. Updated terms will be published on the Platform. Continued use of OTC services indicates acceptance of the revised Agreement. If you do not agree with the updated terms, you must stop using OTC services immediately.

8. Customer Support and Dispute Handling

If you encounter issues such as delayed payments, asset release disputes, suspected fraud, or account abnormalities, you should submit an appeal through Basekx’s official support channels. Basekx may request additional documentation to assist in resolving disputes.