Ledig terms and conditions

1 Who provides your services

1.1 Ledig is a trading name used by LEDIG TECHNOLOGIES INC, a corporation incorporated in Montana, United States, and LEDIG CANADA INC., a corporation incorporated in Ontario, Canada. In these Terms, “Ledig”, “we”, “us” and “our” mean the entity identified as responsible for the relevant service. “You” and “your” mean the business or organisation accepting these Terms, or the visitor in relation to website use.

1.2 LEDIG TECHNOLOGIES INC is responsible for the website under these Terms. Your service provider will be identified before you accept the applicable account or service arrangement, through the onboarding process, a service agreement or another clear written notice. Different services may be provided by different Ledig entities. Their identities and respective responsibilities must be disclosed before you use those services.

1.3 Each entity provides services only within the activities it may lawfully undertake. Inclusion of LEDIG CANADA INC. in these Terms does not represent that a pending registration has been granted. A service requiring a licence, registration or approval will be made available by the relevant entity only when the required permission or a lawful exemption applies. Access through a partner does not, by itself, establish an exemption.

1.4 References to Ledig collectively do not make every affiliate a party to your contract or a guarantor of another entity’s obligations. This does not remove responsibility imposed by law. An entity change affecting your contract will be explained in advance and will require your agreement where applicable law or your agreement requires it. Existing obligations are not transferred merely by changing the website or these Terms.

2 Accepting these Terms and other agreements

2.1 You accept these Terms by selecting an agreement checkbox, clicking a button that clearly states that you are accepting them, signing an agreement incorporating them, or otherwise expressly agreeing to them. Acceptance binds your business. It does not constitute a personal guarantee by the individual accepting on its behalf.

2.2 Opening an application or accepting these Terms does not guarantee account approval or access to any service. Browsing the website does not open an account, authorise a transaction or, by itself, constitute acceptance of the financial service obligations in these Terms. The website provisions apply to visitors to the extent a binding agreement is formed under applicable law.

2.3 If documents conflict, a separately signed customer agreement takes precedence, followed by applicable product or jurisdiction terms expressly accepted by you, and then these Terms, unless the signed agreement expressly sets a different order. A transaction confirmation controls the agreed commercial details of that transaction, including amounts, assets, rate and settlement deadline. It does not silently amend liability, dispute resolution or other general legal terms.

2.4 A bank, fintech or other provider may require separate terms for its own service. We will make those terms available and obtain acceptance where required before that service is used. Such terms govern that provider’s service and do not automatically remove Ledig’s obligations. Unpublished provider policies do not become a separate contract with you merely because we use that provider.

2.5 You agree to receive contractual and operational communications electronically through your registered email address, account or another agreed channel. You must maintain access to those channels and may download or request a copy of the applicable terms. Any mandatory rights relating to electronic communications remain unaffected.

3 Eligibility and verification

3.1 Services are available only to businesses and organisations that we approve, acting through authorised representatives of legal age and capacity. They are not offered for personal, family or household use. Approval for one entity, product, currency or country does not establish approval for another.

3.2 You must provide complete and accurate information about your business, ownership, controllers, representatives, activities, permissions, source of funds and expected transactions. We may request supporting documents, identity checks, invoices, information about payers and beneficiaries, and evidence of the purpose of a transaction. You must promptly notify us of material changes and respond to reasonable requests for updated information.

3.3 We and relevant providers may verify information, screen parties and wallets, monitor activity and make disclosures required by law. Account access and transactions may be subject to limits, further review or refusal where information is incomplete or the activity does not meet legal, security or risk requirements. We may be prohibited from explaining a review, report or restriction.

3.4 You must hold the permissions required for your own activities. Your use of Ledig does not give you a licence or regulatory status. Services are unavailable wherever their provision or use would be unlawful. References to global availability, supported markets or currencies describe potential coverage and remain subject to eligibility, the selected route and applicable restrictions.

4 Our services and use of providers

4.1 Depending on the approved service, Ledig may act as the counterparty to a conversion, arrange execution with a liquidity provider, transmit instructions to a payment or custody provider, or supply technology and transaction coordination. The applicable service arrangement will explain the material role Ledig performs. Ledig does not act as the option counterparty for onchain hedging provided under section 11.

4.2 We use banks, regulated fintechs, payment institutions, custody providers, liquidity providers, blockchain networks and technical and compliance vendors. A transaction may pass through more than one provider or jurisdiction. You authorise us to send the instructions and information reasonably necessary to perform the service you request and to appoint providers for that purpose.

4.3 Providers may apply their own operating hours, transaction limits, screening requirements and legally required restrictions. We may change a provider or route where permitted, but will disclose any material change to your contractual rights, costs, custody arrangement or protections and obtain acceptance where required. A route change does not permit us to disregard an accepted price or settlement obligation.

4.4 We remain responsible for our own contractual duties and responsibilities imposed by law, including any responsibility the law places on us for a provider’s acts or omissions. Use of providers does not create a general release from liability. We do not guarantee a provider’s solvency or performance beyond our own applicable obligations.

5 Custody and account arrangements

5.1 Fiat and stablecoin assets held for the ordinary account, collection, payment and conversion services are held through the regulated bank, fintech or custody provider used for the relevant route. Ledig supplies the agreed account interface, records, coordination and instructions. Assets committed to an onchain hedging arrangement may instead be held or controlled through smart contracts, as explained in the separate product agreement.

5.2 The applicable service disclosures will explain who holds the assets, the relevant account or custody structure, withdrawal conditions and any safeguarding or protection that applies. You should review those disclosures before funding the service. A provider being regulated does not mean that every product it offers has the same protection.

5.3 A virtual account may be payment details allocated through a provider to identify collections for your business. It is not necessarily a standalone bank account opened directly in your name. A wallet or dashboard balance is a record of amounts attributed to your account under the applicable arrangement. It does not, by itself, establish ownership of a particular bank account, a separate onchain wallet, trust status or segregation from other customer assets.

5.4 Ledig is not a bank. Digital assets are not bank deposits. Any deposit insurance, safeguarding, trust protection or other protection depends on the actual provider, product, account structure and applicable law. These Terms do not promise universal deposit insurance, protection from provider insolvency or unrestricted access to funds. They do not waive any protection or asset rights that the law or the applicable arrangement gives you.

5.5 We will maintain appropriate records of transactions and balances attributable to you within our services. These Terms do not grant Ledig a general right to borrow, lend, pledge or use your assets for its own purposes. Assets may be moved, exchanged, reserved or applied to execute your authorised transactions, settle amounts properly due, or meet a legal requirement, subject to the applicable account arrangement and law.

5.6 Available balances may exclude uncleared receipts, amounts committed to accepted transactions, disputed credits and amounts subject to a lawful restriction. Balances do not earn interest or yield unless a separate agreement expressly provides otherwise. Permitted balance retention, funding and withdrawal conditions are specific to the service; these Terms do not create an indefinite storage, savings or credit facility.

5.7 You may request withdrawal or return of an available balance through the supported process. We may verify the destination and require it to be held by you or otherwise approved. We will process or arrange the request without undue delay, subject to clearance, applicable law, disclosed provider conditions and outstanding transaction commitments. We will explain material restrictions and expected timing where lawful and reasonably possible.

6 Website quotes and pricing information

6.1 Rates, bid and ask prices, conversion estimates, option premiums, fee examples, calculators and other quotes displayed on the public website are indicative information. They are not a firm offer to transact and may differ from the price available to your business when you request or execute a transaction.

6.2 Public prices may be delayed, rounded, drawn from external sources or based on stated assumptions. Actual pricing may depend on the currency pair, digital asset, network, transaction size, direction, liquidity, market conditions, timing, settlement route, customer eligibility and agreed charges. A displayed rate does not reserve liquidity or guarantee execution at that price.

6.3 Descriptions such as “from”, “starting at”, “free” or “zero fee” apply only within the stated scope and conditions. A transaction may still involve an exchange rate spread, network charges, intermediary charges or another cost identified in the applicable pricing. A zero Ledig service fee does not necessarily mean that the overall transaction has no cost.

6.4 A personalised executable quote or firm request for quote is governed by its stated validity period and acceptance conditions. Once it becomes binding under section 7, ordinary market movement or a change to website pricing does not entitle Ledig to change the agreed price unilaterally.

6.5 Information and examples on the website are general product information. They are not personalised investment, legal, tax or accounting advice. You must assess whether a service is suitable for your business and obtain independent advice where needed. This provision does not exclude responsibility for a misleading statement or any other liability that cannot lawfully be excluded.

7 Conversions and transaction instructions

7.1 You must submit instructions through the dashboard, API or another channel we expressly approve. Instructions must identify the correct business, assets, amounts, conversion direction, account details, wallet address, network, beneficiary and other required information. We may require additional approval or verification before accepting them.

7.2 A transaction becomes binding at the acceptance point stated in the relevant product terms, executable quote or agreed dealing process. If no different acceptance point is stated, it becomes binding when Ledig issues an execution or acceptance confirmation. An automated acknowledgement that a request has been received is not, by itself, confirmation of acceptance, execution or final settlement.

7.3 Firm quotes expire at the stated time and are subject to any disclosed funding, size or other acceptance conditions. An expired quote or an instruction outside those conditions requires a new quote or our express agreement. We may reject a request before acceptance if liquidity, funds, eligibility or necessary checks are insufficient.

7.4 You must provide cleared funds in the agreed asset, amount and timeframe. Unless a separate agreement permits credit, we are not required to advance our own funds. If you fail to fund a binding transaction, we may take reasonable steps to cancel or close it out and recover documented, direct costs and losses reasonably caused by that failure, subject to the agreed terms and law. We must take reasonable steps to reduce avoidable loss and explain the calculation.

7.5 You cannot assume that an accepted or submitted instruction can be cancelled, amended or recalled. We will consider a request and explain what is possible. A replacement rate or materially different transaction requires fresh authorisation. If an accepted transaction cannot lawfully or operationally proceed, we will notify you where permitted and deal with any funds and outstanding obligations under the applicable agreement.

7.6 A manifest error means an objectively obvious pricing or processing mistake that a reasonable business customer would recognise, such as a misplaced decimal or a duplicate execution. It does not include an unfavourable market movement. We may pause further processing, investigate and seek an agreed correction. We may reverse or correct an accepted transaction without further agreement only where applicable law, payment rules or an expressly accepted product term permits it. You retain the right to challenge the correction.

8 Payments and collections

8.1 Payment and collection services are limited to the routes and purposes approved for your account. Own account funding must come from an approved account or wallet. Payments from your customers or other third parties are permitted only through an approved collection or payment arrangement and must reflect a genuine, lawful business relationship supported by invoices or other evidence when requested.

8.2 You must not accept or send funds for an undisclosed person. Acting for another person or processing transfers for your own customers is permitted only within an approved collection arrangement or a business model expressly approved under section 13. Relevant underlying parties and transaction purposes must be disclosed as required by that arrangement and applicable law.

8.3 You are responsible for checking the payer, beneficiary, destination and purpose of a payment. We may rely on the account number, wallet address or other unique identifier supplied, subject to our agreed verification duties and applicable law. A displayed name does not guarantee that the destination belongs to the intended recipient. Tell us immediately if you suspect a mistake or fraud.

8.4 Processing times depend on funding clearance, provider cutoffs, business days, local holidays, compliance checks, recipient institutions and blockchain confirmation. “Instant” or similar wording describes the relevant execution capability under stated conditions; it is not an unconditional guarantee of receipt by the beneficiary. A contractual service level, if separately agreed, continues to apply.

8.5 A payment can be received, under review, submitted, executed, rejected, returned or settled. Those states are different. A provisional credit or transaction notification does not necessarily establish cleared funds or final receipt. We will correct our records when we receive reliable confirmation of the final outcome.

8.6 A payer’s bank, intermediary, network or recipient provider may reject, return or reverse a payment. We may correct duplicate or mistaken credits and apply a reversal required by law or binding payment rules. Any adjustment must have a factual and contractual or legal basis. We will provide the relevant transaction details and an explanation where permitted. A disputed debit may be raised through section 20.

8.7 Where funds are returned or a transaction is cancelled, we will arrange return of the amount properly due, normally in the original asset and to the original funding source or another verified destination. A conversion requires your agreement unless law or the applicable payment rules require a different treatment. Disclosed, properly incurred charges and actual conversion costs may affect the returned amount. This does not permit deduction of costs that Ledig is required to bear under the agreement or applicable law. We will not impose a penalty or an undisclosed charge merely because a transaction failed.

9 Fees and taxes

9.1 Your applicable charges are those disclosed in your customer agreement, account pricing, product terms or accepted quote. Charges may include an agreed Ledig fee, a conversion spread and applicable provider or network charges. An option premium is the price of an option and is distinct from a Ledig fee. We will identify the costs we control and explain known external charges or how they are determined before you commit.

9.2 If no separate Ledig fee is quoted for a transaction, we will not add one retrospectively. External charges beyond our control will be handled in accordance with the pricing disclosure and applicable law. Any fee deduction from your balance must be authorised by the applicable agreement and shown in your transaction or account records.

9.3 You are responsible for taxes arising from your business and transactions, excluding taxes imposed on Ledig’s own income. We may deduct or report taxes only where required by law or expressly agreed, and will provide available supporting information. Tax treatment may differ by jurisdiction, asset and transaction.

9.4 Changes to an agreed fee schedule or charging method apply prospectively after the notice required by your agreement or section 21. Ordinary market movements between new quotes do not require that notice. Neither type of change alters the pricing of an already binding transaction. We may correct an unpaid invoice or billing error, with an explanation, without treating that correction as permission to change an agreed price.

10 Digital assets and blockchain networks

10.1 You must use only the assets, token contracts and networks supported for the specific transaction. Sending an unsupported asset, using the wrong network or omitting a required reference can cause delay or permanent loss. We may attempt recovery where technically and legally possible, but recovery is not guaranteed. Any recovery charge must be disclosed and agreed before we undertake chargeable work.

10.2 Digital assets carry market, issuer, custody, technology and regulatory risks. A stablecoin may lose its intended peg, and its issuer may restrict transfers, freeze or blacklist addresses, suspend redemption or fail. Holding a stablecoin does not necessarily give you a direct right to redeem it with the issuer. A stablecoin denominated by reference to a currency is not the same asset as that currency.

10.3 Blockchain transactions may be irreversible after broadcast. Network congestion, outages, reorganisations, forks and changes to validation or transaction costs may affect timing or finality. A transaction shown on a network may require additional confirmations before it is credited or treated as settled under the service.

10.4 We may suspend support for an asset or network where reasonably necessary for legal, security or operational reasons. We will give reasonable notice and a withdrawal or alternative settlement opportunity where practicable and lawful. Urgent restrictions may take effect immediately. Support for a fork, airdrop, replacement token or related benefit is not automatic and will be explained separately where relevant.

11 Onchain hedging

11.1 General account approval and acceptance of these Terms do not activate onchain hedging. That service requires separate product terms, relevant risk disclosures and specific eligibility and access approval. Public examples of strikes, tenors, collateral, premiums or possible outcomes are illustrative unless expressly included in a binding product transaction.

11.2 Ledig provides the agreed infrastructure for approved participants and is not the option writer or option counterparty. The separate agreement identifies the relevant parties and explains collateral, premiums, exercise, expiry, settlement, fees and rights to assets. It must also explain where assets are held and any smart contract or participant obligations that differ from the ordinary partner custody arrangements.

11.3 A hedge does not remove every risk or guarantee a commercial outcome. Premiums, exercise conditions, settlement assets, counterparty performance, smart contract defects, network conditions and legal restrictions may affect the result. An audit or technical review does not guarantee that code is free from defects. Your obligations and remedies for the product are determined by the applicable product agreement and mandatory law.

12 Account security and transaction records

12.1 You must keep account access, authentication devices and API credentials secure, assign permissions carefully, remove access when authority ends and maintain reasonable security for your own systems. Your authorised users must comply with the requirements relevant to their access. You remain responsible for their authorised business instructions.

12.2 We may rely on instructions authenticated through the agreed security process, subject to applicable law, our own security duties and information indicating fraud or compromise. Authentication alone is not conclusive proof that every instruction was authorised. Once notified of suspected compromise, we will take reasonable steps to restrict affected access and investigate; processing already completed may not be reversible.

12.3 Notify us promptly through your usual support channel or legal@ledig.io if you suspect unauthorised access, an incorrect payment, a missing balance or another error. Cooperate with reasonable investigation and recovery steps. A delay may affect recovery and responsibility for avoidable additional loss, but does not automatically extinguish a claim or shorten a mandatory limitation period.

12.4 Review your transaction records and keep copies needed for your business, accounting and legal obligations. Our records are evidence of activity, subject to correction and challenge; they are not conclusive where an error is established. We may correct an error with appropriate notice and supporting details where lawful.

13 APIs and services for your customers

13.1 API access, integrations and tailored flows are limited to the uses, permissions and limits approved for your business. You must follow the applicable technical documentation, protect credentials, validate inputs, handle duplicate requests safely and reconcile transaction outcomes. You must not assume that a timeout means a transaction failed or submit a duplicate instruction without checking its status.

13.2 You are responsible for your systems and integration, including access controls, testing and the accuracy of instructions they send. We remain responsible for our own systems and agreed obligations. We may apply reasonable rate limits and security controls. Where practicable, we will give reasonable notice of material API changes or withdrawal of a supported version; urgent security or legal changes may require shorter notice.

13.3 You may provide services to your own customers using Ledig only where that business model has been expressly approved. You must hold the necessary permissions, conduct the checks required of you, obtain lawful customer instructions and provide accurate contractual and privacy disclosures. You must supply information reasonably needed for Ledig and relevant providers to meet their own obligations.

13.4 Each party retains the legal and compliance duties that apply to it. An allocation of work between us does not transfer a statutory responsibility that cannot be transferred. Your customer does not automatically become Ledig’s customer, and Ledig does not automatically become a party to your customer contract.

13.5 You must not resell access, enable undisclosed businesses, use Ledig’s name or regulatory status to suggest your own authorisation, or describe a partner account or service inaccurately. Any white label, referral, agency, distribution or branded arrangement requires our express agreement and appropriate disclosures. A statement of work governs any additional deliverables, milestones or service levels for tailored work.

13.6 Test environments and demonstrations are for the approved testing purpose. Test balances, tokens, quotes and transaction outcomes have no real financial value unless we expressly state otherwise. You must not send real funds to a test address or use a test environment for live customer transactions.

14 Prohibited use

14.1 You must not use the website or services for unlawful activity, money laundering, terrorist financing, sanctions evasion, fraud, bribery, market manipulation or deceptive transactions. You must not disguise ownership, source or destination of funds, provide false information, split transactions to evade controls, or facilitate activity for a prohibited person.

14.2 You must not interfere with systems, introduce malicious code, attempt unauthorised access, bypass security or geographical restrictions, misuse another customer’s information, or overload or scrape the platform contrary to authorised access arrangements. Lawful security research requires any permission applicable to the relevant system.

14.3 You must comply with prohibited business and transaction restrictions supplied during onboarding or under an accepted product arrangement. Material changes to those restrictions will be notified under section 21, except where immediate action is required by law or to address a serious risk. We may investigate and take proportionate action under section 18.

15 Information sharing and confidentiality

15.1 We use and disclose information reasonably necessary to verify customers and related parties, meet compliance and reporting duties, prevent fraud and financial crime, execute and reconcile transactions, operate and secure the services, provide support and resolve disputes. Relevant recipients may include the responsible Ledig entities, banking and fintech providers, custody and liquidity providers, compliance and technical vendors, professional advisers and competent authorities.

15.2 Information may include business details, identity and ownership information, supporting documents, account and wallet identifiers, transaction details and information about payers and beneficiaries. Providers may act as independent controllers or processors depending on their actual role. Information may be processed across jurisdictions subject to applicable data protection requirements and appropriate arrangements.

15.3 These Terms do not authorise the sale of identifiable customer data or its disclosure for another party’s marketing, advertising or unrelated commercial purposes. Acceptance of these Terms is not blanket consent to personal data processing. Our Privacy Policy and any applicable data agreement explain the relevant processing, lawful bases, transfers, retention and individual rights. Where a separate consent is required, it must be obtained separately.

15.4 You must have a lawful basis to provide information about your representatives, employees, customers, payers and beneficiaries, and provide the notices required by law. This does not require you to obtain consent where another lawful basis applies. Where Ledig processes personal data on your behalf, the parties will put the required processing terms in place before that processing begins.

15.5 Blockchain addresses, amounts and transaction records submitted to public networks may be publicly visible and difficult or impossible to remove. You must not insert personal or confidential information into public transaction fields except where necessary, lawful and expressly supported by the service.

15.6 Each party must protect the other’s nonpublic business information with reasonable care and use it only for the services, enforcing the agreement or meeting legal duties. Disclosure is permitted to people who need it for those purposes and are subject to appropriate confidentiality duties, or where required by law. This duty does not apply to information lawfully public, independently developed or lawfully obtained without a duty of confidence.

16 Website content and intellectual property

16.1 Ledig and its licensors retain rights in the website, software, documentation, branding and other material they provide. Subject to these Terms, you may use them for your approved business use of the services. You may retain transaction records and copies of documents supplied to your business.

16.2 You must not copy, distribute, modify, sell or exploit our software, content or branding beyond that permission, or reverse engineer systems except where applicable law expressly permits it. Separate open source or third party licences govern material supplied under those licences.

16.3 You retain your rights in information and materials you supply. You grant us permission to use them only as reasonably necessary to provide and support the services, comply with law and exercise rights under the agreement. This does not grant permission to use your name or logo publicly as an endorsement without your agreement.

16.4 Links to other websites and references to third party products do not make their content part of our services or constitute an endorsement. External sites have their own terms. We are responsible for our own statements and any obligations the law places on us concerning those references.

17 Service standards and interruptions

17.1 We will perform our services with reasonable care and skill and comply with obligations applicable to us. Unless expressly agreed, we do not guarantee continuous availability, compatibility with every system, uninterrupted access to a particular provider or a particular commercial result. Website content may contain errors or become outdated; binding transaction and service commitments remain governed by the applicable agreement.

17.2 Maintenance, outages, cyber incidents, market disruption, provider failures, public authority action and events beyond reasonable control may affect service. We will take reasonable steps to reduce disruption, protect affected assets and information, and communicate material effects where lawful and practicable.

17.3 An event beyond a party’s reasonable control excuses delay only to the extent it actually prevents performance despite reasonable precautions and mitigation. It does not excuse that party’s lack of reasonable care, eliminate an existing payment obligation, transfer ownership of assets or override a mandatory safeguarding or return obligation. The affected party must resume performance as soon as reasonably possible.

17.4 If a service cannot continue, the parties will address pending transactions and available funds under section 18 and any applicable product agreement. There is no general right to retain customer assets indefinitely because a service has been interrupted.

18 Restriction and closure of accounts

18.1 We may reject an instruction, restrict access, suspend a service or close an account where reasonably necessary to comply with law, a binding authority or provider requirement, investigate suspected fraud or financial crime, address a serious security risk, obtain required verification, remedy a material breach, or manage a material risk arising from insolvency or unpaid obligations. We will apply restrictions proportionately and limit them to affected services or amounts where reasonably practicable.

18.2 We will give notice and a reason where lawful and practicable. Immediate action may be needed before notice. We may withhold information where disclosure would be unlawful, prejudice an investigation or create a security risk. A restriction will be reviewed when relevant information changes; it does not give Ledig ownership of restricted assets.

18.3 You may request account closure at any time. We may discontinue a service or close an account for ordinary commercial reasons on at least 30 days’ notice, unless a different period is agreed or a reason in clause 18.1 requires earlier action. Notice does not cancel binding transactions or amounts already properly due.

18.4 On closure, we will reconcile the account and arrange return of legally transferable funds and assets without undue delay. We may retain only amounts reasonably necessary for binding transaction commitments, properly identified amounts due, genuine unresolved claims affecting those amounts, or legal restrictions. Undisputed and unrestricted amounts should not be held solely because a separate issue remains unresolved.

18.5 Any deduction or setoff must be permitted by applicable law and the relevant agreement. It will be limited to amounts legally due and sufficiently established, with an explanation where lawful. We will not set off assets belonging to your customers or another person against your debts where their rights or applicable safeguarding rules prohibit it. We may request security or an agreed reserve separately rather than treating this clause as a general right to seize balances.

18.6 Return of assets may require destination verification and compliance with provider and legal procedures. If an asset cannot be transferred, we will explain available options where possible. Unclaimed amounts will be handled under applicable unclaimed property law and will not simply be forfeited to Ledig.

18.7 Closure does not extinguish accrued rights, settlement obligations, confidentiality duties, lawful record retention or provisions intended to continue, including liability and dispute resolution. It does not require us to erase information that we are legally required to retain.

19 Liability and third party claims

19.1 Nothing in these Terms excludes or limits liability for fraud, fraudulent misrepresentation, wilful misconduct, wilful injury, gross negligence, or a violation of law, whether wilful or negligent, where that liability cannot lawfully be excluded or limited. Nothing excludes any other liability, remedy or statutory duty that applicable law does not permit the parties to exclude or limit.

19.2 Subject to clause 19.1, neither party is liable under these Terms for indirect or consequential loss, or loss of anticipated profit, revenue, business opportunity or goodwill. This does not exclude direct costs of correcting or completing a transaction for which that party is responsible, or an obligation expressly preserved by clause 19.4.

19.3 Subject to clauses 19.1 and 19.4, Ledig’s total liability arising from an event or connected series of events is limited to the greater of USD 10,000 and the Ledig service fees and conversion spreads paid by you to the responsible entity for the affected services in the 12 months before the first event. Transaction principal, amounts belonging to you, option premiums payable to another participant and external pass through charges do not count as fees for this calculation. A signed customer agreement or accepted product agreement may set a different limit.

19.4 The limit in clause 19.3 does not reduce any obligation Ledig has to account for or return customer money or assets, deliver amounts due under a binding transaction, pay an established debt, or comply with mandatory safeguarding, payment or data protection obligations. The existence and extent of those obligations depend on the applicable law and agreement. This clause does not create an unconditional guarantee of a separate custodian’s debts or recovery following its insolvency.

19.5 We are not responsible for loss to the extent caused by your incorrect instructions, breach, insecure systems or failure to take reasonable action after discovering an error, except to the extent that our own breach or a responsibility imposed on us by law contributed to the loss. You are not required to bear loss merely because we used a provider. Each party must take reasonable steps to reduce loss that it can reasonably avoid.

19.6 You will reimburse Ledig for reasonable, documented amounts payable in a third party claim to the extent directly caused by your unlawful use of the services, material breach of these Terms, infringement of a third party’s rights in material you supply, or instructions you lacked authority to give. This obligation does not cover loss caused by Ledig’s or its providers’ breach, negligence or other fault to the extent attributable to them, and cannot be used to evade clause 19.1.

19.7 We must notify you promptly of a claim for which reimbursement is sought, provide reasonable information and allow you a reasonable opportunity to control its defence using suitably qualified advisers reasonably acceptable to us. We may participate at our own cost, and retain control where required by law or a material conflict of interest, with reasonable cooperation between the parties. A settlement for which reimbursement is sought requires your prior written consent, which must not be unreasonably withheld. Neither party may impose an admission or nonfinancial settlement obligation on the other without its consent. Costs must be reasonable, losses must be mitigated and there may be no double recovery.

20 Notices and complaints

20.1 Send legal notices and complaints to legal@ledig.io. Identify your business, the relevant Ledig entity, the affected service and any transaction references, and explain the issue and requested outcome. Do not send passwords, private credentials or authentication codes. For urgent transaction or security issues, also use your established support channel.

20.2 We will review complaints fairly, request information where needed and provide a response within the period required by applicable law. We will keep you informed where further investigation is needed. A service or jurisdiction may have additional complaint procedures, which will be supplied where applicable. Nothing prevents a complaint to a competent regulator or another right that cannot lawfully be restricted.

20.3 We may send notices to your registered email address or through your account, with a separate alert where reasonably needed for a material contractual notice. Keep your contact details current. A legal notice takes effect when delivered or at the later time stated in it, subject to applicable law; an email known to have failed delivery is not treated as received merely because it was sent.

21 Changes to these Terms

21.1 We may update these Terms to reflect changes in services, providers, technology, law or operating requirements. We will identify the updated version and effective date and give at least 30 days’ notice of a material change affecting an existing customer, unless a longer period is required or an urgent legal or security reason reasonably requires a shorter period.

21.2 Material changes requiring fresh agreement will be presented for express acceptance. Continued use will constitute acceptance only where that method is permitted by law and the notice clearly explains it. We will not rely solely on a website update to introduce a new arbitration agreement or materially change an existing customer’s contracting entity.

21.3 Changes do not retrospectively alter an accepted transaction, accrued claim or existing dispute unless you expressly agree to that change where lawful. If you do not accept a change, you may stop using the affected service and close the account, subject to completion of existing obligations and return of available assets. A necessary restriction on new activity does not remove accrued rights.

22 Governing law and disputes

22.1 Unless your signed customer agreement or accepted jurisdiction terms state otherwise, these Terms and disputes arising from them are governed by the laws of Montana, United States, excluding conflict rules that would refer the matter to another law. Mandatory laws and protections that apply to the relevant entity, service or customer continue to apply, including applicable Canadian requirements.

22.2 The parties will first try in good faith to resolve a dispute through written notice under section 20 and discussion between authorised representatives. If the dispute is not resolved within 30 days after receipt of the notice, or another period agreed in writing, either party may pursue the process available under the applicable agreement and law. Either party may act sooner where necessary to obtain urgent relief or preserve a claim before a legal deadline.

22.3 The parties may, by mutual written agreement, use mediation or arbitration for a dispute. They may choose a suitable provider, rules, location and language, and agree to conduct meetings or hearings remotely. An arbitration agreement must identify the disputes covered and specify the applicable rules, legal seat, number of arbitrators and language, directly or through rules that determine those matters. Neither party is required to agree to mediation or arbitration under these general Terms alone. Any binding process already agreed in a separate customer, product or jurisdiction agreement continues to apply according to section 2.

22.4 Where no binding agreement requires a different process, either party may bring a claim before a court that has jurisdiction over the dispute under applicable law. These Terms do not designate an exclusive court or require proceedings to take place in Montana. Proposing or attempting mediation or arbitration does not prevent available court proceedings or suspend a legal limitation period unless the parties expressly agree otherwise or applicable law provides otherwise.

22.5 Nothing in this section prevents either party from seeking urgent interim relief from a competent court, applying to recognise or enforce a valid arbitration award, making a complaint to a competent regulator, or exercising a right or remedy that cannot lawfully be restricted. Any agreed process remains subject to mandatory laws and applicable rights of court supervision and review.

23 General provisions

23.1 These Terms and the applicable agreements identified in section 2 contain the agreement for their subject matter. They do not cancel a signed customer agreement or exclude liability for fraud, misrepresentation or another matter that cannot lawfully be excluded. An agreed service level or commercial commitment must be read with the document in which it was made.

23.2 Neither party may transfer its contractual obligations without the other’s agreement where that is required by law or the contract. Ledig may use providers under section 4 without changing your contracting entity. A permitted business transfer must preserve accrued customer rights and be notified with any acceptance required under clause 1.4. You may not transfer access or rights to an unapproved business without our written agreement.

23.3 If a provision is unenforceable, it will be limited or severed only to the extent permitted by law, and the remaining provisions will continue where they can operate lawfully. Failure to enforce a provision immediately does not waive it. A waiver must be clear and applies only to the matter stated.

23.4 These Terms do not create a partnership, employment relationship or general agency between you and Ledig. Any authority to act for you is limited to the agreed service and your lawful instructions. A person who is not a party has no contractual enforcement right under these Terms unless another accepted agreement or applicable law provides otherwise.

23.5 References to registration or regulation describe the status of the particular entity and activity concerned. They do not constitute government endorsement, a guarantee of service, or permission to offer every product in every country. A partner’s permissions are not attributed to Ledig or to you.

23.6 Questions about these Terms should be sent to legal@ledig.io.