Terms & Conditions

Terms & Conditions

Version: January 2024

Preamble

 Hashtect. Hashtect IT Services FZCO, with its registered address at IFZA Dubai – Building A2, 101, Dubai Silicon Oasis, Dubai, United Arab Emirates („Hashtect„), provides High-Performance Computing („HPC„) hardware and operates data centers suitable for computing services including crypto asset mining, data processing, artificial intelligence, and various other high-performance computing applications.

Customer. The customer purchases hardware and related services for commercial use in high-performance computing activities („Customer„).

Terms. These terms and conditions govern all purchases of hardware and related services between Hashtect and the Customer, including their delivery to the agreed Delivery Destination („Terms„). Any conflicting terms and conditions of the Customer are expressly rejected unless explicitly agreed upon in writing.

 

§ 1. Definitions

 

Hashtect: Hashtect IT Services FZCO, IFZA Dubai – Building A2, 101, Dubai Silicon Oasis, Dubai, United Arab Emirates.
 Contract: Agreement between Hashtect and Customer as defined in § 2 (6).
 Customer: Entity purchasing HPC hardware from Hashtect.
 Hardware: Equipment purchased by Customer from Hashtect.

Delivery Costs: Costs related to transport, freight, insurance, customs duties, taxes, levies, and other fees or charges associated with delivery.
 Delivery Destination: Location specified by Customer for delivery.
 Notification of Defect: Written notification of hardware defects.
 Offer: A non-binding or binding proposal by Hashtect to sell hardware as defined in § 2 (3).
 Offer Period: The validity period of an Offer as defined in § 2 (4).
 Purchase Price: The price indicated in the Offer exclusive of VAT and other applicable taxes.

§ 2. General

  1. Scope. Hashtect offers hardware for sale to Customers for commercial use under these Terms. Hardware will be delivered by Hashtect to the Delivery Destination.
  2. Entrepreneur. Hashtect provides hardware to Customers commercially engaged in computing activities. Hashtect reserves the right to require proof of commercial activity.
  3. Offer. Offers by Hashtect are non-binding unless explicitly stated otherwise.
  4. Validity. Offers expire at 24:00 GST on the day of issuance unless stated differently.
  5. Acceptance. Acceptance occurs through Customer’s payment of the Purchase Price within the Offer Period.
  6. Late Acceptance. Late acceptance by Customer constitutes a new offer, subject to Hashtect’s approval.
  7. Conclusion of Contract. Contract formation occurs upon receipt of payment within the Offer Period.
  8. Information. Information in Hashtect’s advertisements is non-binding unless explicitly referenced in the Offer.

§ 3. Prices, Payment, Costs

  1. Purchase Price. The purchase price for the Hardware indicated on Offers are in USD and exclusive of VAT („Purchase Price„).
  2. VAT. The Purchase Price is subject to VAT at the applicable statutory rate.
  3. Currency. Payments may be made in USD, USDT, USDC, EUR, or AED at applicable exchange rates.
  4. Advance Payment. The Customer shall transfer the Purchase Price to Hashtect’s bank account or wallet address within the Offer Period. Payment is made only upon receipt of the Purchase Price in the bank account or wallet address of Hashtect. Hashtect is under no obligation to deliver the Hardware and execute the Contract pursuant to § 3 of these Terms until the Customer has paid the Purchase Price as defined in § 3 (1).
  5. Delivery Costs. The Purchase Price includes costs for transport, freight and insurance, customs duties, taxes, levies and other fees or charges („Delivery Costs„). Delivery Costs are indicative and may be higher than initially estimated by Hashtect. Hastect determines Delivery Costs based on publicly available information and past sales to calculate the Purchase Price. Hashtect shall estimate the Delivery Costs as accurately as possible in advance based on the information available. In international trade, unforeseen inspections by the authorities may always occur, which may result in increased Delivery Costs, which shall be borne by the Customer.
  6. Price Adjustments. Hashtect may adjust Purchase Price due to unforeseen regulatory or logistical changes.
  7. Payment Methods. Payment instructions detailed in the Offer.

§ 4. Delivery and Transfer of Risk

  1. Delivery Destination. Hardware is delivered to a location specified by the Customer. Installation and maintenance are not included unless separately agreed.
  2. Delivery Time. Delivery timelines provided are estimates only. Hashtect strives for punctual delivery but assumes no liability for delays beyond its control.
  3. Extension of Delivery Time. Delivery timelines are extended due to Customer-requested modifications, additional services, or unforeseen circumstances such as regulatory inspections, customs delays, force majeure events, strikes, or supplier delays.
  4. Transfer of Risk. Risk transfers to the Customer upon delivery at the Delivery Destination. If the Customer fails to accept the delivery, risk transfers when the hardware is ready for dispatch.
  5. Compensation. Hashtect is liable only for delays caused by its own intentional or gross negligence.
  6. Default in Acceptance. Hardware not accepted by the agreed delivery date shall be stored at Customer’s risk and expense for up to six weeks. Hashtect may insist on contract performance or withdraw from the contract after setting a reasonable grace period and charge a contractual penalty of 50% of the invoiced amount (excluding VAT).
  7. Authorization. The Customer must ensure third parties at the Delivery Destination are authorized to accept hardware delivery.

§ 5. Warranty and Liability

  1. Warranties. Except as otherwise agreed, the statutory warranty pursuant to UAE Civil Code is waived.
  2. Performance. Hashtect does not guarantee that a specific performance or yield is associated with data Hardware.
  3. Proof. The Customer shall always prove the existence of defects.
  4. Notice of Defects. Defects shall be notified in writing without delay upon receipt of delivery of the Hardware, at the latest within 5 days, latent defects within 3 days of discovery (the „Notification of Defect„). In case the Customer may not check the Hardware itself, since it is delivered to a location to which the Customer might not have access, the Customer shall be responsible for requiring third parties at the Delivery Destination to carry out the Notification of Defect. Notification of Defect must adequately explain and substantiate any defects of the Hardware.
  5. Objection. If the Customer has not raised objections by sending a Notification of Defect within the time limit set out in § 5 (4) the Hardware delivered shall be deemed as approved and accepted. The Customer shall have no warranty claim against Hashtect, if the Customer fails to submit a Notification of Defect.
  6. Warranty. The Customer shall have no warranty claim against Hashtect, if the Customer engages a third party not authorized by Hashtect to carry out changes or maintenance of the Hardware. Warranty coverage for hardware is explicitly limited to terms provided by the hardware manufacturer or explicitly stated on the invoice. If not otherwise specified on the invoice, the manufacturer’s warranty terms apply exclusively.
  7. Usage. Hashtect shall not be liable for damages arising through improper or unsuitable usage, defective or neglectful treatment or storage of the Hardware as set out in § 4 (6).
  8. Return Delivery. In case of return of the Hardware, the Customer shall transfer the Hardware to Hashtect or the manufacturer indicated by Hashtect at his own expense.
  9. Liability. Hashtect shall not be liable for damages resulting from delayed delivery of the Hardware. Hashtect’s indicated delivery times are estimates only and are subject to circumstances beyond Hashtect’s control. Customers are not entitled to claim financial losses or lost profits from Hashtect due to delayed delivery.

§ 6. Ownership

  1. Retention of Title. Hashtect retains ownership until full payment.
  2. Transfer. Ownership transfers to Customer upon full payment and delivery.
  3. Encumbrances. Customer may not pledge or encumber Hardware prior to full payment.

§ 7. Governing Law and Jurisdiction

  1. Law. These Terms are governed by and interpreted in accordance with the laws of Abu Dhabi and applicable UAE federal laws.
  2. Jurisdiction. Parties agree to exclusive jurisdiction of the Courts of Abu Dhabi.
  3. Counterclaims. The Customer shall not offset any counterclaims, likewise it shall not be admissible to exercise a retention right without legally binding title or based on claims arising from other transactions.

§ 8. Miscellaneous

  1. Severability clause. Should any provision of these Terms be invalid, voidable or unenforceable, the validity of these Terms shall not be affected to the extent that this is in accordance with the intent of the Parties as set forth in the provisions of these Terms relating thereto. Such a provision shall then be replaced by an effective and enforceable provision which has such a legal and above all economic content as the invalid one or comes closest to it.
  2. Communication. Customer correspondence shall be addressed to Hashtect IT Services FZCO, office@hashtect.com.