The present policy regulates the terms under which any participant of the DRCGold ICO can request the refund of the funds he paid during the ICO in order to purchase the offered tokens. By participating in the ICO, any physical and legal person agrees to be bound by this policy and waives any right to demand a refund and return of any funds on the conditions that contradict this policy.
2. General policy
Any physical or legal person participating in the ICO agrees that the purchase of tokens is performed as is and the purchaser of tokens shall have no right to demand the return of funds should the value or functionality of the tokens not meet his expectations. By purchasing tokens under the ICO, the ICO participants admits that he understands the nature of the tokens sold, their full functionality and usage potential. DRCGold shall not provide an opportunity for a refund or return of funds paid on the conditions that differ from those set below.
3. Possibilities for refund
The conditions under which the refund policy may be used by the parties is as follows:
- Should the ICO fail to reach the minimal number of sold tokens, a complete refund of paid amounts will be initiated and performed by
DRCGold. Said refund shall be performed automatically and shall not require the participants of ICO to present any applications for the refund.
Should it be revealed that the participant of the ICO has no right to participate in the ICO under the applicable legislation of his own jurisdiction, the company reserves the right to return the funds under its own discretion.
Should it be revealed that for whatever reason the person who registered as the participant of the ICO has limited legal capacity or has no authority to participate in the ICO or should there be any other reasons to consider the relationships null and void due to the misinformation by the client, the company shall return any paid funds upon the written request of an authorized person or representative after subtracting the possible costs and damages that DRCGold might have suffered.
- The company shall return the funds should it be proven impossible for a person to participate in the ICO under the applicable Anti Money Laundering policy. The company may deny a refund should there be any reason to think that the ICO participant withheld such information knowingly.
- The company may return the paid funds if such is prescribed by the ruling of a competent court or a competent authority.
DRCGold needs to collect and use certain types of information about the physical and legal persons that wish to participate in the DRCGold:
Any data collected during the performance of ICO whether is collected on paper, stored in a computer database, or recorded on other material is subject to this policy and is protected under the law.
2. Data Controller
DRCGold and its officers and employees shall be collectively referred to as the Data Controller under this policy, which means that it determines what purposes personal information held will be used for. It is also responsible for cooperating with the state regulatory organs regarding the correct application of the state legislation, and the correct use and disclosure of information.
DRCGold may share data with the state regulatory organs and other authorities when that is required by the applicable law or the provisions of the AML policy.
The ICO participant will be made aware in most circumstances how and with whom their information will be shared.
Every ICO participant shall agree with this policy and shall consent to his data being used in accordance with the provisions of this policy and the AML policy regarding analysis of data and disclosure of data.
There are circumstances where the law allows DRCGold to disclose data (including sensitive data) without the data subject’s consent.
a) Carrying out a legal duty or as authorised by the Financial Inspection of Estonia or any other competent legal authority.
b) Protecting vital interests of any party, including the ICO participant.
c) The information was already made public by other third parties.
d) For the conducting of any legal proceedings, obtaining legal advice or defending any legal rights.
e) Disclosing data to state authorities under the AML policy in order to avoid or prevent money laundering.
To this end, DRCGold will adhere to the Principles of Data Protection, as detailed in the Estonian personal data protection act.
Specifically, the Principles require that personal information:
a) Shall be processed fairly and lawfully and, in particular, shall not be processed unless specific conditions are met,
b) Shall be obtained only for the purpose of the AML policy and shall be processed only in order to adhere to the risk analysis under the AML policy or to
further develop the strategy of the company.
c) Shall be adequate, relevant and not excessive in relation to those purposes.
d) Shall be accurate and, where necessary, kept up to date.
e) Shall not be kept for longer than is necessary, but for no less than set by the AML policy.
f) Shall be processed in accordance with the rights of data subjects under the Estonian personal data protection Act.
g) Shall be kept secure by the Data Controller who takes appropriate technical and other measures to prevent unauthorized or unlawful processing or accidental loss or destruction of, or damage to, personal information.
h) Shall not be transferred to a country or territory outside the African Economic Area unless that country or territory ensures an adequate level of protection for the rights and freedoms of Individuals/Service Users in relation to the processing of personal information.
DRCGold will, through appropriate management and strict application of criteria and controls:
• Observe fully conditions regarding the fair collection and use of information.
• Meet its legal obligations to specify the purposes for which information is used.
• Collect and process appropriate information, and only to the extent that it is needed to fulfill its operational needs or to comply with any legal requirements.
• Ensure the quality of information used.
• Ensure that the rights of people about whom information is held, can be fully exercised under this policy. These include:
o The right to be informed that processing is being undertaken,
o The right of access to one’s personal information,
o The right to provide information necessary to correct the information, should it be inaccurate.
• Take appropriate technical and organizational security measures to safeguard personal information.
• Ensure that personal information is not transferred abroad without suitable safeguards.
4. Data collection
Informed consent is when:
• And then gives their consent by accepting the Terms and Conditions.
DRCGold will ensure that data is collected within the boundaries defined in this policy. This applies to data that is collected by completing a registration form for the participation in the ICO.
When collecting data, DRCGold will ensure that the Individual/Service User:
a) Clearly understands why the information is needed.
b) Understands what it will be used for and what the consequences are should the ICO participant decide not to give consent to processing.
c) As far as reasonably possible, grants explicit consent by registering on the website of DRCGold and participating in the ICO by filling out the requested forms.
d) Is, as far as reasonably practicable, competent enough to give consent and has given so freely without any duress.
e) Has received sufficient information on why their data is needed and how it will be used.
5. Data Storage
Information and records relating to service users will be stored securely and will only be accessible to authorized staff members.
Information will be stored for only as long as is needed under the AML policy or required legal act and will be disposed of appropriately.
6. Data access and accuracy
All ICO participants shall have the right to access the information DRCGold holds about them. DRCGold will also take reasonable steps to ensure that this information is kept up to date by asking data subjects whether there have been any changes.
In addition, DRCGold will ensure that:
• Everyone processing personal information understands that they are contractually responsible to follow good data protection practice.
• Everyone processing personal information is appropriately trained to do so.
• Everyone processing personal information is appropriately supervised.
• It deals promptly and courteously with any enquiries about handling personal information.
• It will regularly review and audit the ways it holds, manages and uses personal information.
• It regularly assesses and evaluates its methods and performance in relation to handling personal information.
• All staff members are aware that a breach of the rules and procedures identified in this policy may lead to disciplinary action being taken against them.
This policy will be updated as necessary to reflect best practice in data management, security and control. In case of any queries or questions in relation to this policy, please contact the DRCGold Data Protection Officer.