Terms & Conditions

Effective Date: [20th October 2024]

1. Introduction

Welcome to Bombay OTC, a service operated by Prithvia by Prithvi (OPC) Private Limited. By accessing or using our website (the “Site”) and services (the “Services”), which involve cryptocurrency trading exclusively on Binance P2P, you agree to comply with these Terms and Conditions ("Terms"). Please read these Terms carefully before using our platform.

2. Eligibility

By accessing or using our services, you confirm that:

You are at least 18 years old or the legal age of majority in your jurisdiction.
You are legally capable of entering into binding contracts under Indian law.
You are not barred from using our services under any applicable laws, including sanctions or other legal restrictions.
You will comply with all applicable laws and regulations, including KYC (Know Your Customer) and AML (Anti-Money Laundering) requirements.

We reserve the right to refuse service or terminate accounts at our discretion.

3. Services Provided

Bombay OTC, operated under Prithvia by Prithvi (OPC) Private Limited, facilitates cryptocurrency transactions exclusively on Binance P2P. We offer:

Cryptocurrency Liquidation: Assisting users in converting cryptocurrency into fiat through Binance P2P.
Retail & Exchange Services: Buying and selling cryptocurrencies via Binance P2P.
Block Trades: Handling large-volume transactions directly with buyers or sellers on Binance P2P.

We reserve the right to modify or discontinue any part of our services without prior notice.

4. User Account

To access our services, you are required to create an account and undergo KYC verification. By registering an account, you agree to:

Provide accurate and truthful information.
Maintain the security of your account credentials.
Be responsible for all activities carried out under your account.
Immediately report any unauthorized access or suspicious activity.

We may suspend or terminate accounts found violating these Terms or engaging in unlawful activities.

5. KYC and AML Compliance

As part of our compliance with KYC and AML regulations, users must provide:

Valid proof of identity (e.g., Aadhaar, PAN, passport, etc.).
Proof of address.
Financial details (e.g., bank accounts, wallet addresses) to ensure compliance with applicable regulations.

Non-compliance with KYC/AML obligations may lead to account suspension or service termination.

6. Binance P2P Transactions

All cryptocurrency transactions facilitated by Bombay OTC are conducted through Binance P2P. You acknowledge and agree that:

You are responsible for ensuring that all transaction details are accurate, including the recipient’s wallet address and the transaction amount.
Once a transaction is confirmed on Binance P2P, it cannot be reversed or refunded by us.
Transaction times, confirmations, and fees are subject to Binance’s platform policies, and we are not liable for any delays or issues that arise on Binance P2P.

7. Fees

Our services may be subject to transaction fees, which are clearly displayed at the time of your transaction. Fees are subject to change, and any updates will be reflected on our website.

Binance P2P Fees: You are responsible for any fees charged by Binance for P2P transactions.
Bombay OTC Fees: We may charge additional fees for facilitating transactions, which will be communicated clearly at the time of the transaction.

8. Risk Disclosure

You acknowledge and accept that cryptocurrency markets are highly volatile, and the value of cryptocurrencies can fluctuate significantly. By using our services:

You understand that there are risks associated with buying, selling, or holding cryptocurrencies.
Bombay OTC does not provide financial or investment advice.
You assume full responsibility for your investment decisions and any financial losses incurred.

9. Limitation of Liability

To the fullest extent permitted by applicable law:

Bombay OTC, Prithvia by Prithvi (OPC) Private Limited, and its affiliates shall not be liable for any indirect, incidental, or consequential damages arising from your use of our services, including financial losses, system errors, or issues related to Binance P2P transactions.
Our total liability for any claims arising from your use of the platform will be limited to the total fees paid to us over the previous six months.

10. User Conduct

You agree to use our services in a lawful and responsible manner. You will not:

Engage in any unlawful activities, such as money laundering or terrorism financing.
Attempt to hack, disrupt, or misuse our platform.
Use our services for speculative or high-risk trading that violates applicable laws or Binance P2P’s terms.

We reserve the right to report any suspicious activity to the appropriate authorities and suspend your account for violations.

11. Privacy Policy

Your use of our services is governed by our Privacy Policy, which outlines how we collect, use, and protect your personal data. By using our services, you consent to the practices described in the Privacy Policy.

12. Termination of Services

We reserve the right to suspend or terminate your account and access to our services at any time, without notice, for the following reasons:

If you violate these Terms or engage in unlawful activities.
If we detect suspicious behavior, fraud, or non-compliance with KYC/AML regulations.
If required by law or regulatory authorities.

Upon termination, you will remain liable for any outstanding obligations incurred before your account was terminated.

13. Governing Law and Jurisdiction

These Terms are governed by and construed in accordance with the laws of India. Any disputes arising out of or in connection with your use of Bombay OTC services shall be subject to the exclusive jurisdiction of the courts in [Mumbai], India.

14. Amendments

We reserve the right to modify or update these Terms at any time. Changes will be posted on our website, and continued use of our services after such changes constitutes acceptance of the new Terms.