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Borrow Terms

These Terms are divided into the following sections, which are deemed incorporated in their entirety by and in any reference to these Terms:

  • Section 1 – Introduction
  • Section 2 – Definitions
  • Section 3 – Client
  • Section 4 – Cashaa Crypto Credit and Collateral
  • Section 5 – Interest
  • Section 6 – Margin Calls & Liquidation
  • Section 7 – Term
  • Section 8 – Repayment & Withdrawals
  • Section 9 – Obligations & Warranties
  • Section 10 – Default & Indemnification
  • Section 11 – Risk Disclosure
  • Section 12 – Limitation of Liability
  • Section 13 – Termination
  • Section 14 – Notices
  • Section 15 – Governing Law and Jurisdiction
  • Section 16 – Miscellaneous

1. Introduction

These Cashaa Crypto Credit General Terms and Conditions (“General Terms”) govern the relations between you (“Client” or “you”) and any holding company, subsidiary or entity belonging to the Cashaa group of companies, including Caspay Services S.R.O. (Company number: 19694571) (“Cashaa” or “we”), while you and Cashaa are hereinafter separately referred to as “Party” and jointly – as “Parties”, in regard to your use of cryptocurrency credit facilities granted by Cashaa, and constitute a legally binding agreement (“Agreement”) between the Parties.

2. DEFINITIONS

Applicable Law means any law, statute, regulation, ordinance, treaty, guideline, policy and act issued by any governmental or regulatory authority, including but not limited to the governing law under Art. 15.1. and Art. 15.2. of these General Terms.
Digital Assets means any digital assets (such as cryptocurrencies, stablecoins and tokenized fiat assets, and CAS Tokens), accepted and supported by Cashaa, and subject to revision, prohibitions and limitations at any time.
Intellectual Property means any intellectual and industrial property rights, belonging to Cashaa, for example, trademarks, service marks, logos, copyright and related rights, know-how, research, publications, agreements, trade and company names, etc.
Interest means the indicated interest rate accrued in accordance with these General Terms and subject to revision at any time.
Cashaa Crypto Credit means any Digital Assets credit facility granted by Cashaa and the total amount of the credit due by the Client to Cashaa at any time until its full repayment, including the principal, the Interest and any fees due to Cashaa under this Agreement.
Cashaa Account means a personal or business account, opened with Cashaa, through which you can use the Cashaa Crypto Credit and other Cashaa services.
Cashaa Platform means any Cashaa website, mobile application and any other official Cashaa communication channel, including the content and services made available on or through the same, and any updates, upgrades and versions thereof.
Unless stated otherwise, references shall be made to the Cashaa Services General Terms and Conditions and the Cashaa Exchange Service General Terms and Conditions, and all the defined terms, used in these General Terms, shall have the same meaning as the one given to them in the Cashaa Services General Terms and Conditions or the Cashaa Exchange Service General Terms and Conditions, as the case may be.

3. CLIENT

You can enter into this Agreement and use the Cashaa Crypto Credit only if all of the conditions below are met:
You are not a citizen or resident of a sanctioned country according to the up-to-date lists of the US Office of Foreign Assets Control (OFAC), the United Nations, the European Union and any EU Member State, the UK Treasury, etc.;
You are not a citizen or resident of the USA, China, and sanctioned countries, and you do not have any relevant connection with any jurisdiction where we have prohibited or restricted access to the Cashaa Crypto Credit and any feature thereof;
You are at least 18 years old or of legal age to enter into contractual relations with Cashaa (whichever is later);
You have opened a Cashaa Account with Cashaa;
You have read, understood and agreed to our Privacy Policy and Cookies Policy.
By entering into this Agreement, you acknowledge and confirm that you meet all the conditions set out above. In the event that we subsequently ascertain that you have not met or do not meet any of these conditions anymore, we may suspend the provision of the Cashaa Services to you and close your Cashaa Account, and do not allow you to use the Cashaa Services.
At any time, at our sole and absolute discretion, without liability to you, we can: (i) refuse your request for granting of a Cashaa Crypto Credit; (ii) change the conditions for entering into the Agreement or use of the Cashaa Crypto Credit; (iii) suspend the provision of the Cashaa Crypto Credit or of all or part of the other Cashaa Services; or (iv) change, update, remove, cancel, suspend, disable or discontinue any features, component, content, incentive or referral plan of the Cashaa Crypto Credit.

4. CASHAA CRYPTO CREDIT AND COLLATERAL

Cashaa will grant you a Cashaa Crypto Credit in Digital Assets, if you provide the required Digital Assets as collateral, by transferring them into the Cashaa Account, or by using ones available thereinto (“Collateral”). All such Digital Assets are indicated on the Cashaa Platform and in the Cashaa Account and are subject to revision from time to time.
The value of the Cashaa Crypto Credit shall be calculated by the loan-to-value-ratio, as indicated on the Cashaa Platform and subject to revision from time to time, (“LTV”), against the value of the Collateral at the time of granting. The value of the Collateral shall be dynamically calculated by Cashaa in accordance with its applicable policy at the moment, on the basis of margin percentages applied to the market value of the Collateral, according to an exchange ratio more or less equivalent to the volume­ weighted average price of the relevant Digital Assets, across leading cryptocurrency exchanges.
You shall at all times maintain the necessary Collateral in accordance with the LTV.
The Assets for Collateral will automatically be taken from the available Assets in your Cashaa wallet in an order pre-defined and decided solely by Cashaa. Unless prohibited by any Applicable Law or the Client is a resident of the USA, by virtue of this Agreement Cashaa acquires the ownership title and all attendant rights of ownership of the Collateral while the Cashaa Crypto Credit is outstanding, and can dispose of this Collateral in any manner at its sole and absolute discretion. Otherwise, you understand and agree that we can convert, pledge, re-pledge, hypothecate, rehypothecate, sell, lend, or otherwise transfer, dispose of or use any amount of such Collateral, separately or together with other property, and for any period of time, and without retaining in our possession and/or control for delivery a like amount thereof or any other assets, at our sole and absolute discretion. Any such action will be performed in our name only and you will have no benefits and liabilities from it.

5. INTEREST

A simple annual Interest charged or debited daily, shall commence accruing as of the expiry of 24 hours (twenty-four) from the start date of the Cashaa Crypto Credit (“Start Date”), at the rate determined at the time the Cashaa Crypto Credit is granted and indicated in the Cashaa Account and on the Cashaa Platform. The Interest shall be subject to revision from time to time, at our sole and absolute discretion.
The Interest shall be calculated on a daily basis, on each calendar day, on the basis of the actual number of days elapsed in a 360-day year. The daily interest amount shall be first charged from the available balance in your Cashaa Account in the same currency or Digital Assets as the currency or Digital Asset in which the Cashaa Crypto Credit has been availed. Thereafter, in an order pre-defined and decided at the sole discretion of Cashaa from your Cashaa Account. In case insufficient funds in your Cashaa Account, the daily interest shall be debited from the Collateral Amount till a certain maximum LTV threshold is hit. You will be sent email communications after each step with a request to top-up your Cashaa Account.