Contract Agreement


This Contract Agreement (hereinafter referred as Agreement) and “Parties” shall mean MINING FORCE and the Client collectively and “Party” shall mean either MINING FORCE or the Client, as the context dictates.

“You or Your” shall mean the Client(s) and “us or we or our” shall mean MINING FORCE, refer to the terms and conditions of this Agreement.

WHEREAS, MINING FORCE and the Client are desirous, enter into this legally binding Agreement with effect from signing up or signing date, on the terms and conditions hereinafter put down.

NOW, THEREFORE, in consideration of the mutual representations and covenants hereinafter set forth and for other good and valuable consideration the adequacy of which is hereby acknowledged by the Parties and the mutual benefits to be derived there from, the representations and warranties, covenants, conditions and promises contained herein below and intending to be legally bound, the Parties agree as follows:

  1. IMPORTANT TERMS AND CONDITIONS
    • By purchasing our services, you are entitled to daily payouts which will be routed from the mining hardware located in the mining farms of our Hosting Partner.
    • The price that you see in the “buy power” page of our website is fixed in Th/s with minimum buy is 0.05 Th/s, payment of which will entitle you to get equivalent amount of power mentioned on the page. This is a one-time cost but apart from this you will also need to pay us a maintenance fee for equipment maintenance and power supply which will be deducted by us on daily basis from your payout.
    • Current Maintenance fee is $ 0.09 per Kwh.
    • The Contracts listed on our website are open ended contracts. Open ended contracts are lifetime contracts meaning we run hardware till you are able to provide us for power supply and maintenance cost on daily basis. Since we do not take any upfront cost from you for maintenance we deduct it from your Gross Profit Portion on daily basis and pass remaining net portion to you. If on any given day your daily payout/profit portion is less than maintenance cost, we will still continue mining for you for next 3 days hoping for profitability to return. Should this not be the case, your mining contract and services will be cancelled.
    • Mode of payment to buy the contracts will be only and only in Bitcoin unless stated otherwise though contracts are priced in USD. The daily payout offered to the client will also be in Bitcoin unless stated otherwise.

  2. BACKGROUND/GENERAL SCOPE

    MINING FORCE is one of the first cryptocurrency mining companies in India that will offer different cloud mining contracts in various cryptocurrencies starting with Bitcoin initially. What makes us different is that our clients get 100% of the actual production less a small deduction which goes towards electricity and maintenance of hardware so that they will be able to reap full benefits of mining and leave all the hassles and headaches of hardware maintenance, uptime, etc on us. All you need to do is sit back, relax and enjoy daily payouts and let us do all the hard work.

    Bitcoin is a kind of virtual currency. Whereas, Bitcoin Mining is a process of recording transactions on blockchain, whereby, miners earn a share of block reward. MINING FORCE sells power to the Client(s) online through website and/or mobile application in form of Cloud Mining Contracts.


  3. HOW MINING FORCE WORKS

    MINING FORCE has just started its cloud mining business by exploring the bitcoin mining market in regular manner and shares same with its valued client(s);

    1. At first we remain well versed with players in the Bitcoin mining space.
    2. Keep checking advancement/innovation and imply on our software for the client(s).
    3. In order to provide best selling opportunities to the client(s); MINING FORCE take reputed, well equipped and reliable partners.
    4. Partners provide warranties of best equipments to facilitate the client(s) with quality hosting services for bitcoin mining.
    5. MINING FORCE take all measures to provide efficient and reliable partners to the Client(s).

  4. RESPONSIBILITIES OF THE CLIENT(S)

    Upon the Client(s) agreement in writing through signing or accepting this Agreement or agree on terms and conditions given on website, via email or facsimile or using or activation our services, the Client(s) accept all terms stated here-under or under MINING FORCE’s regulations;

    1. The Client(s) warrant that it is legally able to enter into a contract and having age more than 18 years old.
    2. If the Client is accepting the Agreement on behalf of an Organization, the Client shall be authorized to bind that Organization in all matters where the context dictates.
    3. MINING FORCE shall process the “your acceptance” as an offer to get its service. Afterward, MINING FORCE will evaluate your offer for identification and authentication. Upon acceptance of your offer, MINING FORCE will inform you through email that your service has commenced as per your offer and requirements.
    4. MINING FORCE has full discretion to accept or reject your offer at any stage. Upon rejection the Client(s) will be informed via email. In case of payment already made by the Client(s), MINING FORCE will refund the full amount at earliest.
    5. You agree that you have read this Agreement carefully and make sure that you understand it before ordering any Services from this Website. You also agree to be bound by all the terms stated under this Agreement.

  5. FEES & PAYMENTS

    In consideration of services provided by the MINING FORCE, the Client(s)/ you will be charged a small fee on daily basis from your Gross Profit Portion to smoothly run the Mining Hardware.s Fees and Charges shall be clearly mentioned on “buy power” page of our website. The Fee will be converted to the number of Bitcoins based on price at the time of payout for deduction purposes. Currently the Fee stands at $0.09 /Kwh. However, MINING FORCE shall have right to change any fee i.e. maintenance or running at any time with prior 7 days notice.

    For selection and payment against services, you need to create an account on our website and you will provide us email and password. MINING FORCE will keep your secret details i.e. email, address or passwords to protect you from unauthorized access. You will be responsible for any activity that happens on or through your Account. If you become aware of or suspect any unauthorized use of your Password or Account, please change your Password immediately and notify us immediately. If we believe that there has been unauthorized access to your Account, we reserve the unilateral right to suspend or discontinue any and all Services in your Account, in which event we will endeavor to notify you.

    The Client(s) Wallet
    Your account and withdrawal address will be your “Bitcoin Wallet”, which you will provide to us from time to time for the payment to you against your Net Profit Portions. However, you will be responsible to maintain, safeguard, make confidential and control your Bitcoin Wallet. If you forget or misplace your access credentials to your Bitcoin Wallet you can always get back to us to reset it for you but if others are able to gain an unauthorized access to your Bitcoin Wallet, you could permanently lose any Profit Portions we transfer to your Bitcoin Wallet. To be clear, we have no liability for any operation or failure of your Bitcoin Wallet. Bitcoin Payments will get accumulated in your account till you put a withdrawal request from your account. Should you do not receive your payout on a particular day after request, please contact us immediately.

    You will be provided a Bitcoin Address on your Account’s Page/ Dashboard where you will be sending bitcoins from your personal wallet to buy our products and services as per your need and requirement. MINING FORCE took all above process measure owing to stringent security reasons for the Client(s).

    Note- For any kind of withdrawals, you will have to bear the ongoing transaction fee whatsoever. MINING FORCE will not bear any such cost that is incurred during the transaction.


  6. WARRANTIES AND REPRESENTATIONS

    Each Party warrants and represents to the other Party that it has and, so long as this Agreement remains in force, will continue to have full legal capacity, right, power and authority to execute and perform all its obligations as stipulated under this Agreement.

    You hereby warrant and represent that it has and/or will obtain and maintain all necessary rights and permits under this Agreement and shall comply with all rules & regulations set forth by any governmental and regulatory bodies.

    Each Party hereby represents that it has full power and authority to enter into and perform this Agreement, and neither Party knows of any agreements, contracts, promises or undertakings which would prevent its full execution and performance of the Agreement.

    Parties shall perform the responsibilities and services with reasonable skill and diligence.


  7. INDEMNIFICATION

    Both Parties shall defend, hold harmless and fully indemnify each other against all liabilities, losses, costs, expenses and unreasonable claims.


  8. CONFIDENTIALITY

    Each Party and its affiliates understand and acknowledge the terms and conditions of this Agreement are confidential. From time to time during the performance of this Agreement each Party may also receive certain information from the other Party marked confidential. Neither Party nor its affiliates will, without the express written consent of the other, disclose any confidential information disclosed by one Party to the other and designated confidential to any third party, nor to any employees, contractors, vendors, consultants or affiliates other than those employees who have an actual need to know such information in order to perform their duties. The Parties acknowledge and agree that this Agreement may not be made publicly available or available to third-parties.


  9. TERMINATION

    You may terminate this Agreement, prior to the expiration of this Agreement, by serving a prior written notice of {7 days} to other Party and you will not be entitled to receive any refund of your service.

    If you terminate any Service, or terminate or otherwise refuse to accept the terms of this Agreement, we will cease to provide any Services and you will no longer be obligated to pay any regularly charged fee. If you terminate a Service pursuant to this Section, your Service Fee will not be refunded. If you terminate this Agreement and your own wrongful activity or violations of this Agreement entitle or potentially entitle us to damages or you otherwise have unpaid obligations or potential obligations to us at the time of termination, in which event we are permitted to retain any amounts owed to you as a set-off against those damages and other obligations.


  10. NOTICES

    All notices required or permitted to be given by one Party to the other under this Agreement shall be deemed to have been sufficiently given in writing and delivered to the other Party if sent by registered post, Email, through fax or courier, or delivered in person at the address of the said Party given on the first page of this Agreement.

    All Notices shall be deemed delivered (a) when presented and received personally, or (b) if received on a Business Day for the receiving Party, when transmitted by Email or facsimile to the receiving party’s facsimile number or Email address specified above, if received on a day that is not a Business Day for the receiving party, than on the first Business Day following the date transmitted by facsimile to the receiving party’s facsimile, email, by hand etc.


  11. DISPUTE RESOLUTION & ARBITRATION

    Any dispute(s) arising out of or in connection with this Agreement shall be settled through friendly consultations between both Parties. In case no settlement can be reached within a period of seven (07) days of commencement of consultations, the parties agree that the dispute(s) shall be settled by ARBITRATION in accordance with the Arbitration Act. The Parties shall, with mutual consent, appoint a single arbitrator to carry out the arbitral proceedings. The language to be used in the arbitral proceedings shall be English, unless otherwise agreed by the Parties. The arbitral award shall be final and binding upon both Parties. {if you don’t want for arbitration etc, then end up on amicable consultation}


  12. FORCE MAJEURE

    In an event or circumstance which is beyond the control of MINING FORCE or its COLOCATION HOSTING PARTNERS, including but not limited to acts of Gods, riots, wars, floods, fires, explosion, strikes and other similar events which affects Mining Hardware, Equipments, Power Supply or anything that is related directly to our Mining Services, MINING FORCE shall not be held liable for any delay, failure or disruption in providing already committed such services.


  13. DISCLAIMER

    MINING FORCE, its allied partners/companies, employees or sponsors do not warrant that the services will be timely, uninterrupted, secure or error free. Neither we make any warranty as to the results that may be obtained from use of our services are accurate or reliable. Any downloaded material from our website shall be at your own risk.

    Bitcoin Price movement and Bitcoin Difficulty are two external factors. We disclaim all type of liabilities or loss of fund that you may arise because of the adverse movement of both the factors or any of these factors.

    If at all Hard fork or Soft Fork or User Activated Hard Fork (UAHF) or User Activated Soft Fork (UASF), BIP 148, SEGWIT, EMERGERCY CONSENSUS or any such thing which might happen which may split or not split Bitcoin’s Blockchain in two different chains than we will take necessary steps at the time of such event happening and thereby release contingency plan accordingly but we disclaim any type of liability or any loss of fund occurred to you in case of such event happening. It is the client’s responsibility to understand the current situation and the recent developments that is happening in Bitcoin before investing in our cloud mining services.


  14. MISCELLANEOUS

    Term: This Agreement shall come in to force on the Effective Date and shall automatically expire on mutual agreement or quitting services.

    Entire Agreement: Once this Agreement between the Parties is enacted, as of the effective date, it will supersede any and all prior written or oral understandings, offers, agreements, terms and conditions or other communications between the parties in connection with the scope of this Agreement described herein or hereby. This Agreement may not be modified or amended except in writing signed by the Parties.

    Amendment/Variation: All additions, amendments and variations to this Agreement shall be binding only if in writing and signed by the Parties duly authorized representatives.

    Assignment: You shall remain fully liable to MINING FORCE for the overall satisfactory performance of this Agreement and MINING FORCE shall do the same for You.

    No Waiver: The failure or delay of either Party in exercising any of its rights provided for in this Agreement shall not be deemed to be a waiver of such rights, or any of its other rights under this Agreement, nor operate so as to bar the exercise or enforcement thereof at any time or times thereafter. Any waiver must be given in writing and signed by the Party waiving its rights.

    Severability: If any provision or clause of this Agreement or compliance by any of the Parties with any provision of this Agreement constitutes a violation of any law, or is or becomes unenforceable or void, then such provision will be deemed modified to the extent necessary so that it is no longer unenforceable.

    Currency: The unit of currency in this Agreement is expressed in USD.