The following terms and conditions apply to all orders placed with GCR Systems, unless other conditions have been agreed. They are deemed to have been agreed if they are not immediately rejected in writing.
1. Scope and Subject of the Contract
1.1 The terms and conditions apply to the provision of services in accordance with the contract concluded between GCR Systems and the client.
1.2 These terms only govern your purchase of GCR Tokens during our Stage I and Stage II of Token Sale unless otherwise explicitly stated, herein.
1.3 Any utilization of GCR Tokens with or without a reference to products and services on our network may be governed by prospective applicable privacy policies and terms and conditions.
1.4 Deviation of terms and conditions within a client contract requires a written agreement.
1.5 GCR Systems will have no responsibility for the use of GCR Tokens after GCR Tokens are sold.
2.1 The Token sale is not intended for citizens, residents and/or entities incorporated, established or registered in or under the laws of the following stated countries:
Republic of China, Hong Kong, South Korea, Cuba, Crimea, Canada, Iran, North Korea, Syria, United States of America, Puerto Rico, U.S. Virgin Islands and Singapore.
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2.2 Those having an Ethereum wallet supporting the ERC20 token standard with the possibility to receive GCR Tokens from us are entitled to participate in the Token Sale.
2.3 In order to be eligible to participate in the Token Sale, you must be at least 18 years of age and comply with all the terms and conditions as stated in this document.
3. Token Sale Process and Regulations
3.1 Price per Token & Payment currency
3.1.1 The price per GCR Token is 0.000133 ETH. The Price Per Token is set in ETH as payment Currency.
3.1.2 We reserve the right at its discretion to change, modify, add or remove
payment currencies from the Terms and Conditions of this Agreement at any time and publish the change on our Site.
During Token Sale, GCR Tokens will be available for sale with bonus as specified below.
3.2.1 Token Sale bonuses during Stage I “Pre-Sale”
For investments from 0.01 ETH to 1.00 ETH participants will receive a 20% bonus in GCR Tokens.
For investments over 1.00 ETH participants will receive a 25% bonus in GCR Tokens.
3.2.2 Token Sale bonuses during Stage II “Main-Sale”
For investments from 0.1 ETH to 12.00 ETH participants will receive a 5% bonus in GCR Tokens.
For investments from 12.01 ETH to 25.00 ETH participants will receive a 5.5% bonus in GCR Tokens.
For investments from 25.01 ETH to 75.00 ETH participants will receive a 6.5% bonus in GCR Tokens.
For investments from 75.01 ETH to 150 ETH participants will receive a 7.5 % bonus in GCR Tokens.
For investments from 150.01 ETH to 400 ETH participants will receive a 10% bonus in GCR Tokens.
Maximum contribution is limited to a value of 400 ETH or 2% of total cap.
3.2.3 Individual bonuses
We negotiate bonuses for large contributors during Token Sale of Stage I and Stage II.
3.3 Purchase and Delivery
After your purchase, we will send you detailed payment instructions containing the GCR Token Sale Ethereum address. Payments for your purchases GCR Tokens have to be executed to the GCR Token Sale Ethereum address at the latest within two days.
GCR Token will be issued to your ERC20 compatible wallet within 21 days at the latest after receiving your payment made to the provided GCR Token Sale Ethereum address. We cover the transfer fees for your purchased GCR Tokens.
3.4 Total Number of GCR Tokens
The total supply of GCR Tokens is 100 million. 80 million is allocated to the token sale. We do not presently plan to issue any additional GCR following the Delivery Date, but reserve the right to do so.
3.5 Allocation of Resources
• 40% of the raised funds will be used for Research & Development.
• 25% of the raised funds will be used for marketing purposes and workshop offerings
• 12% of the raised funds will be contributed as salaries to our Team members
• 12% of the raised funds will be contributed as salaries to our Team members
• 10% of the raised funds will be used to buy equipment
• 8% of the raised funds will be used for security services to ensure stability within our Network
• 5% of the raised funds will be reserves for legal issues
3.6 Commencement and duration of Token Sale
3.6.1 Phase I
Phase I of GCR Token Sale is expected to start on May 15, 2018 at 11:00 am GMT and ends at the latest on July 1, 2018 at 11:00 am GMT. Phase I will be completed after reaching the Token Sale Soft Cap of 2000 ETH.
3.6.2 Phase II
Phase II of GCR Token Sale is expected to start on November 15, 2018 at 11:00 am GMT and ends on December 31, 2018 at 11:00 am GMT.
4. Purpose and Use of GCR Tokens
By purchasing GCR Tokens you serve the purpose of supporting the development of affordable Powerful Lab Automation Systems and the creation of a global network for researchers being able to exchange needs and knowledge powered by GCR Token.
4.2 Use of Tokens
GCR Systems is planning to create a network with GCR Token as its official currency with possibilities shortly described in the following. With GCR Tokens you can either purchase, sell or offer free of charge your products, intellectual property and services on our exchange platform or offer e.g. your knowledge, calibration data, publish your research and much more on our chemistry database. you will also have the privilege to upgrade your status by registration as a licensed retailer to benefit from discounts. Additional information regarding the product specifications and the GCR Network as it is planned is summarized and further described in the Whitepaper available on our Site.
GCR Tokens are not intended to be a security, financial instrument or any other investment vehicle. The possession or ownership of GCR Tokens carries no rights other than the right to use Tokens as a means of exchange. GCR Tokens does not confer any ownership rights, shares, security, or equivalent rights.
5. Possible Migration and
Reengineering of Tokens
We reserve the right to migrate the ERC20 based GCR Tokens to another protocol to e.g. generate replacement Tokens, and/or modify properties such as number of decimals on the new protocol in our sole discretion.
In case of migration, we may request Token holders to convert their Tokens into the replacement Token. The purpose must be necessary or useful for optimal network and/or platform performance. Independent of the unlikeliness of a migration process, we will take action in all conscience to enable a shift as pleasant as possible.
6. Cancellation and Refusal of Purchase Requests
When purchasing GCR Token from us, the customer accepts that his right of withdrawal expires as soon as GCR Systems has started to process the purchase request. We reserve the right to refuse or cancel Token purchase requests at any time in our sole discretion.
7. Risks Relating to buying, selling and use of GCR Tokens
Importnat Note: Ethereum as a decentralized platform that runs smart contracts, is still in an early development stage and unproven. There is no warranty assuring an uninterrrupted, flawless process within the process of tranfering or creating GCR Token. There are not inconsiderable risks due to the complexity of this new technology. This includes the possibility of software vulnerabilities, bugs, backdoors and any other conceivable scenarios such as a total loss of your coins or tokens and those that GCR Systems may not be able to anticipate.
7.1 Risks of losing Access to your Tokens
7.1.1 Loss of Private Key(s)
Loss of your private Key(s) related to your Purchaser wallet or other digital wallet storing your Coins and/or Tokens such as GCR will result in a loss. In the event of any third party having access to confidential data as your private key, unlawful acquisition of your cryptocurrencies can not be excluded.
7.1.2 Purchase Errors
In case of your purchase wallet not being able to receive ERC20 Tokens you might not be able to gain access to your GCR Tokens. Your purchase wallet must be ERC20 compatible.
7.1.3 Transaction erros
Only the correct recipient wallet address ensures a successful transaction. Always double check the entered wallet address. In case of a failed transaction your Tokens might be lost.
7.2 Risks relatod to Ethereum Blockchain
GCR Tokens and the platform are based on the Ethereum blockchain. Any malfunction of the Ethereum blockchain may have disadvantageous effects on platform functionality related to ERC20 Tokens like GCR.
7.3 Risk of Mining attacks
As GCR Tokens are based on the Ethereum blockchain, GCR Tokens are susceptible to attacks by miners in the course of validating transactions on the Ethereum blockchain, double-spend attacks, majority mining power attacks, selfish-mining attacks and other not anticipated attacks.
7.4 Risk of cyber attacks
Hackers may disturb the proper operation of our network. An attempt of initiating malfunction can be made using various methods as malware attacks, denial of service attacks, consensus-based attacks, Sybil attacks, smurfing and spoofing.
7.5 Risk of uninsured losses
In the event of loss or loss of utility value to recourse can be offered to you.
7.6 Risks through Taxation
Before purchasing GCR Token, make sure to seek comprehensive advice in your local tax office to avoid adverse consequences.
7.7 Risk of insufficient demand in product and services
In case of insufficient interest in the GCR network, a negative impact on the develeopment of the Network and the development of products could be a consequence. This would lead to potential loss in the use GCR as a utility token.
7.8 Risks Associated with Development of Lab automation systems and corresponding platform
Unpredictable events can lead to a delayed development, increased development costs or even cancellation of the project depending on the extend of incident.
7.9 Risk of adverse fluctuating Ether and other currency value
Due to the fact that we offer GCR Tokens in exchange for Ether, a massive devaluation of Ether and crypto currecies during or after Token Sale may affect the progress of product and service development to an extend of a complete stop.
7.10 Risk of Dissolution
Due to many reasons, there is the possibility of unfavourable events as cost
intensive law suits, restrictive, distorting or disruptive effects on international trade. In addition to previously listed risks, further not aticipated possibilities may lead to a closure of business.
7.11 Unanticipated Risks
Tokens such as GCR are still in their very early, in most cases experimental, stages. Therefore, we can not technically or legally perform a full risk assessment.
8. Security of Storage Systems
You and only you are responsible for your security. Its the buyers duty to protect his personal information, account passwords as private key(s), wallet(s). We are not responsible for any losses, costs, or expenses relating to lost access credentials. We cannot recover your funds or freeze your account if you visit a phishing site or lose your private key.
9. Personal Information
If necessary, we reserve the right to gather certain information about you to assure legal compliance within our Token Sale. With regard to Token Sale in a legitimate manner, we reserve the right to refuse the Sale of Tokens Until completion of requested data of and their evaluation.
It is your duty to comply with your tax obligations in every type of tax applicable. It is also your obligation to determine possible tax liabilities apply to your purchase of GCR Tokens by contacting your local tax office in case of uncertainties. We are not responsible for any tax related concerns arising from your purchase of GCR Tokens.
11. Representations and Warranties
By sending ETH to purchase GCR Tokens from us, you represent and warrant that:
11.1 You have read and understood these Terms and agree with them.
11.2 You acknowledge and agree on existing unanticipated Risks related to the purchase, owning and use of GCR Tokens including the risks as described in section 7.
11.3 You have sufficient knowledge and are familiar with the (automation) technology, blockchain technology, cryptocurrencies as Tokens, Token storage mechanisms and the financial and business aspects.
11.4 You understand these Terms well enough to evaluate the risks associated with the purchase of GCR Tokens.
11.5 You acknowledge the restrictions and understand the risks associated with the creation of GCR Tokens.
11.6 You have sufficient knowledge about GCR Tokens for taking a deliberate decision when purchasing GCR Tokens.
11.7 you understand that GCR Tokens are not intended to be a security, financial instrument or any other investment vehicle. The possession or ownership of GCR Tokens carries no rights other than the right to use GCR Tokens as a means of exchange. GCR Tokens does not confer any ownership rights, shares, security, or equivalent rights.
11.8 you purchase GCR Tokens solely for the purpose of supporting the development of affordable Powerful Lab Automation Systems and the creation of a global network for researchers being able to exchange needs and knowledge powered by GCR Token.
11.9 Your purchase of GCR Tokens complies with applicable laws and regulations in your jurisdiction.
11.10 You will comply with your tax obligations in every type of tax applicable within your jurisdiction issued from your GCR Token purchase.
11.11 you are not a citizen, resident and/or entity incorporated, established or registered in or under the laws of the following stated countries: Republic of China, Hong Kong, South Korea, Cuba, Crimea, Canada, Iran, North Korea, Syria, United States of America, Puerto Rico, U.S. Virgin Islands and Singapore.
11.12 you are not on the SDN-List according to the Office of Foreign Assets control.
11.13 you agree not to sell GCR Tokens to citizen, resident and/or entity incorporated, established or registered in or under the laws of the stated countries in 11.11 or listed on the SDN according to topic 11.12.
12. Modification of Terms
We have the right to modify our Terms and Conditions under certain obligations as the necessity to comply with applicable laws and regulations. We will inform you by your provided email address about the change and publish the updated version online. These terms and conditions will become effective immediately. Your continous participation shall constitute your acceptance of the modified Terms.
13. Place of Performance - Legal Status – Jurisdiction
13.1 Unless otherwise stated in the contract, place of payment and performance is the main office of GCR Systems.
13.2 If any term, clause or provision of these Terms is held unlawful, void or unenforceable, then that term, clause or provision will be severable from these Terms and will not affect the validity or enforceability of any remaining part of that term, clause or provision, or any other term, clause or provision of these Terms. In the case of a clause not being valid or in the case that a regulation has not been included therein, this gap shall be replaced by a valid clause that the Parties would have been agreed upon if they would have known the gap.
13.3 The law of the Federal Republic of Germany applies.