Terms & Conditions
NARA TERMS AND CONDITIONS
Effective Date: 4 Sept 2025
Last Updated: 4 Sept 2025
These Nara Terms of Use (these "Terms") constitute a legally binding agreement between you and Lumine Venture Ltd ("Nara", "we", "our" or "us"). These Terms govern your use of your Account and the Services provided by Nara.
By registering for an Account, accessing the Platform, using the Services, and/or purchasing or holding any Vault Token, you agree that you have read, understood, and accepted these Terms, together with any additional documents or terms referred to herein, including the Privacy Policy. You acknowledge and agree that you will be bound by and will comply with these Terms, as updated and amended from time to time. If you do not understand and accept these Terms in their entirety, you should not register for an Account or use the Platform or any Service.
We reserve the right, at our sole and absolute discretion, to amend, supplement or replace any part of these Terms at any time. We will notify you of any changes by updating the revised Terms via the Website or the Platform, and changing the "Last Updated" date on this page. Any changes to these Terms will be effective immediately upon publication. We encourage you to frequently review these Terms to ensure you understand the terms and conditions that apply to your access to, and use of, the Services.
NOW IT IS HEREBY AGREED as follows:
1. DEFINITIONS AND INTERPRETATION
1.1. Definitions
In these Terms, unless the context otherwise requires:
"Account" means one or more accounts in your name opened with Nara;
"Applicable Laws" means any and all applicable laws, statutes and regulations, and any and all directives, notices, guidelines codes, practice notes, circulars, policy statements, rules, ordinances, orders, requests, requirements, judgements, decrees or writs (in each case whether or not having the force of law) of any governmental, regulatory or judicial body or agency having jurisdiction over any of the parties to these Terms (including any and all Users and Nara) or any of the subject matters of these Terms;
"Blocked Addresses" means digital asset addresses that have been identified by Nara as being associated with prohibited activities, sanctioned persons, or other restricted parties;
"Investment Strategy" means a specific set of rules, objectives, and methodologies managed by Nara for the investment of proceeds from the sale of a corresponding Vault Token;
"Nara Protocol" means our tokenized investment protocol designed to provide users with exposure to various investment strategies through Vault Tokens;
"Platform" means the platform operated by Nara that provides you with access to the Services;
"Primary User" means any user of Services provided by Nara in respect of the Account;
"Restricted Jurisdictions" means Afghanistan, Algeria, Angola, Bolivia, Burkina Faso, Cameroon, Central African Republic, China, Côte d'Ivoire, Crimea and Sevastopol, Donetsk People's Republic (DNR) and Luhansk People's Republic (LNR), Cuba, Democratic People's Republic of Korea, Democratic Republic of the Congo, Eritrea, Haiti, Islamic Republic of Iran, Iraq, Libya, Lebanon, Mali, Myanmar/Burma, Mozambique, Namibia, Republic of Belarus, Russian Federation, Somalia, South Sudan, Sudan, Syria,Tanzania, Venezuela, United States of America, Yemen, Zaporizhzhia and Kherson oblasti of Ukraine and any jurisdiction in which the entry into these Terms is prohibited by Applicable Laws, and any jurisdiction which is subject to United States, United Nations or other applicable sanctions or embargoes;
"Restricted Person" means any person that is the subject or target of any sanctions, including a person that is: (a) named in any sanctions-related list maintained by the U.S. Department of State, U.S. Department of Commerce, U.S. Department of the Treasury, or any similar list maintained by any other relevant governmental authority; (b) located, organized or resident in a Restricted Jurisdiction; or (c) owned or controlled by any such person or persons;
"Secondary User" means any holder of Vault Tokens that does not have access to purchase or redeem Vault Tokens directly with Nara until they open and are approved for an Account;
"Services" means the services offered by Nara, including the issuance and redemption of Vault Tokens, account management, and access to strategy performance information;
"Underlying Assets" means the portfolio of digital assets, securities, or other instruments held and managed by Nara as part of a specific Investment Strategy;
"User" or "you" means Primary User and/or Secondary User as the context requires;
"U.S. Person" means any of the following: (i) a U.S. Citizen or U.S. Resident, which includes: (A) U.S. citizens; (B) U.S. lawful permanent residents; (C) individuals who meet the "substantial presence" test described in section 7701(b)(3) of the U.S. Internal Revenue Code of 1986 (as amended); (D) protected individuals under section 1324b(a)(3) of the U.S. Immigration and Nationality Act; or (E) individuals who hold a passport issued by the United States Government; (ii) a corporation, partnership, or other entity established or organized in or under the laws of the United States; (iii) any estate of a decedent who was a citizen or a resident of the United States; (iv) any trust if a court within the United States is able to exercise primary supervision over the administration of the trust and one or more United States Persons have the authority to control all substantial decisions of the trust; and (v) any Person organized or incorporated outside the United States and its territories or insular possessions in which any of the foregoing, whether singularly or in the aggregate, directly or indirectly: (A) holds a 50 percent or greater equity interest by votes or value; (B) holds a majority of seats or memberships on the board of directors of the entity; or (C) authorizes, establishes, directs, or otherwise controls the actions, policies, personnel decisions, or day-to-day operations of the Person;
"Vault Token" means a digital token issued by Nara that represents a beneficial interest in the Underlying Assets of a specific Investment Strategy. The value of a Vault Token is determined by the Net Asset Value (NAV) of its corresponding Investment Strategy;
"Website" means Nara's website at https://nara.finance/ or as may be changed from time to time.
1.2. Interpretation of certain terms
In these Terms, unless the context or subject otherwise requires:
any reference to time and/or date shall be construed as a reference to the British Virgin Islands time and/or date;
the headings are for convenience only and shall not affect the interpretation hereof;
the words "written" and "in writing" include any means of visible reproduction;
references to the singular number shall include references to the plural number and vice versa, references to natural persons shall include bodies corporate, and the use of any gender shall include all genders;
references to "Recitals", "Clauses", "Schedules" and "Rows" are to be construed as references to the recitals, clauses, schedules, and rows of/to these Terms; and
any reference to a statutory provision shall include such provision as from time to time modified or re-enacted and any regulations made in pursuance thereto as from time to time modified or re-enacted after the date of these Terms and shall also include any provision in any other statute which replaces that present statutory provision.
2. NARA VAULT TOKENS
2.1. Nature and Backing of Vault Tokens
Nara offers one or more Vault Tokens, each corresponding to a unique Investment Strategy. Vault Tokens are digital tokens issued by Nara that represent a beneficial interest in the Underlying Assets of a specific Investment Strategy. When a User purchases a Vault Token, the proceeds are allocated to the designated Investment Strategy and used to acquire a portfolio of Underlying Assets. Each Vault Token is backed by its proportional share of the Underlying Assets held within its corresponding Investment Strategy.
Vault Tokens are not stablecoins. Their value is not pegged to any fiat currency or other asset and is expected to fluctuate. The value can decrease, and you may lose some or all of your principal investment.
2.2. No Intrinsic Returns
Vault Tokens are not designed to intrinsically create returns for holders, increase in value, or otherwise accrue financial benefit to the Vault Token holder. The value of Vault Tokens is derived solely from the performance of the Underlying Assets in the corresponding Investment Strategy. Any changes in value result from the investment performance of the Underlying Assets, not from any inherent yield-generating mechanism within the Vault Tokens themselves.
2.3. User Responsibility for Transfers and DeFi Usage
You acknowledge and agree that if you transfer Vault Tokens to another party or use Vault Tokens in decentralized finance (DeFi) protocols, smart contracts, or any third-party applications, you are solely responsible for any and all legal, regulatory, tax, and compliance issues that may arise from such activities. This includes but is not limited to:
a) Compliance with securities laws and regulations in any jurisdiction where such transfers or usage occur; b) Tax implications and reporting requirements; c) Regulatory compliance in jurisdictions that may classify such activities as regulated financial services; d) Any losses, damages, or legal consequences resulting from smart contract failures, protocol exploits, or third-party platform issues; e) Ensuring that the recipient of any transfer is legally permitted to hold and use Vault Tokens in their jurisdiction.
Nara makes no representations or warranties regarding the legal status of Vault Tokens when used outside of the Nara Platform and expressly disclaims any responsibility for the consequences of such usage.
3. SERVICES
3.1. To the extent you have an Account in good standing, you may, on the Platform:
purchase Vault Tokens from Nara;
request redemption of your Vault Tokens in exchange for a proportional share of the Underlying Assets' value;
view performance data and other information related to the Investment Strategies; and/or
enrol and participate in any other services we offer to you
(collectively the "Services").
3.2. You acknowledge that your ability to receive Vault Tokens and/or redeem your Vault Tokens is conditional on (i) your possession of a corresponding amount of Vault Tokens or other required assets (as the case may be), (ii) you maintaining an Account, (iii) no violation of these Terms, and (iv) no restrictions imposed by any Applicable Laws, including any changes thereto. Nara reserves the right to suspend all or part of the Services or your right to use the Services at any time and for any reason.
3.3. You agree, represent, and warrant with respect to any digital asset you sell, transfer or deliver to Nara that, (i) you are the lawful owner of such digital asset with good and marketable title thereto, and you have the absolute right to sell, assign, convey, transfer and deliver such digital asset, and all transactions with such digital assets are proprietary. Such digital asset is free and clear of any and all security interests, liens, pledges, claims (pending or threatened), charges, escrows, encumbrances or similar rights, (ii) you are the lawful owner of each wallet address you provide to us and have good title thereto and (iii) each of your wallets is owned and operated solely for your benefit, and no person, other than you, has any right, title or interest in any wallet.
3.4. By using any of the Services, you acknowledge and agree that the availability and functionality of these Services may be subject to limitations, delays, and other issues inherent in the use of blockchain technology and digital assets. Under no circumstances shall any of the Indemnified Persons be responsible for any losses or damages arising from such issues, and your use of the Services is at your own risk.
4. FEES AND CHARGES
4.1. We reserve the right to charge you fees in connection with the use of your Account and/or Services, and your maintenance, termination or cancellation of your Account. You agree to pay us any and all prevailing fees charged by us from time to time. These may include, but are not limited to:
Management Fees: A fee charged on the assets within an Investment Strategy.
Performance Fees: A fee based on the positive performance of an Investment Strategy.
Transaction Fees: Fees for purchasing or redeeming Vault Tokens, including any pass-through blockchain network fees.
4.2. You also acknowledge and agree that we shall have sole and absolute discretion, at any time and from time to time, to impose new fees or adjust any existing fees. If you do not agree to any changes in fees, you may terminate your Account and cease using the Services, however, you expressly acknowledge and agree that any termination of your Account and ceasing to use the Services shall not affect or otherwise extinguish any accrued fees and charges which shall still be due and immediately payable to Nara upon termination of your Account and/or cessation to use the Services.
4.3. We pass-through transactional fees to Users. This can include transfer fees related to blockchain transactions. You are solely responsible for paying any transactional fees. In addition, fees may be imposed for transacting on the blockchain or by a third-party service provider that operates your funding source. Any fees imposed by your third-party service provider may not be reflected on the Platform as these fees are not imposed by us. You are solely responsible for paying any fees imposed by the third-party service provider on you and you expressly acknowledge and agree that you shall keep the Indemnified Persons fully indemnified and harmless against any direct, indirect, special or consequential losses (including loss of profits, business, or opportunities), damages or costs by reason of, or arising from, or as a consequence of, fees imposed by such third-party service provider.
5. ACCOUNT REGISTRATION
5.1. Eligibility
a) To be eligible to use any of the Services, the following conditions must be satisfied at all times:
i) if you are an entity, you are duly incorporated, duly organised and validly existing under the laws of your jurisdiction and have full power to conduct your business, and if you are an individual, you are at least 18 years old or of legal age to form a binding contract under all Applicable Laws, and have full mental capacity to enter into these Terms and any other agreement entered into pursuant to, or in connection with, these Terms, and to make decisions regarding your investments or transactions;
ii) you have not previously been suspended or removed from using the Services;
iii) you are not an individual or entity sanctioned by any authority and are not a Restricted Person;
iv) you are not incorporated or residing in a Restricted Jurisdiction;
v) you are not prohibited from using the Services by any Applicable Laws;
vi) all of your representations and warranties set out in these Terms and any and all agreements entered into pursuant to, or in connection with, these Terms, being true, accurate, correct, complete, complied with, and not misleading, in all respects and at all times;
vii) you have performed and discharged, or will perform and discharge at all times, all of your covenants, agreements, obligations, or undertakings under these Terms and any and all agreements entered into pursuant to, or in connection with, these Terms;
viii) if you are entering into these Terms on behalf of a legal entity of which you are an employee, agent or representative, you have all necessary rights, power, and authority to bind such legal entity to these Terms;
ix) you do not maintain any existing Account with Nara. Please note that you should only have one Account registered under your name, which has successfully completed our KYC/KYB verification process. If any additional Accounts are identified, they will be consolidated.
b) All Accounts are subject to review and approval by Nara. We reserve the right to terminate, suspend or restrict your access to any of your Accounts, as well as take any other action as we deem fit, in the event that you are not, or are no longer, eligible to use the Services. Under no circumstances shall any of the Indemnified Persons be responsible or liable to you or any other person or entity for any direct, indirect, special or consequential losses (including loss of profits, business, or opportunities), damages or costs by reason of, or arising from, or as a consequence of, any such termination, suspension or restriction of access to any Account, or any other action taken by any of the Indemnified Persons in connection with your ineligibility to use the Services.
c) We reserve the right to monitor and investigate any transactions or activities involving the Vault Tokens to ensure compliance with these Terms and Applicable Laws.
5.2. Account Information and Enhanced Due Diligence
You must provide current, complete, and accurate information during registration and keep this information updated. You authorize us to make inquiries, directly or through third parties, to verify your identity and to take action based on the results of such inquiries. You also agree to provide us, when registering for an Account and on an ongoing basis, any additional information we request for the purposes of identity verification and the detection of money laundering, terrorist financing, fraud, or any other financial crime.
In certain circumstances, we may require you to submit additional information about yourself or your business, provide records, and complete other verification steps ("Enhanced Due Diligence"). From time to time we may be required to request further information or review or update existing information regarding your registration or your transactions to comply with Applicable Laws and regulations. Failure to provide such information, if requested by Nara, in a timely fashion may result in the suspension of your ability to use the Services or the termination of your Account.
6. ACCOUNT SECURITY
You are solely responsible for maintaining the security of your Account credentials. You authorize Nara to act on any instructions received through your Account, whether or not authorized by you. You must notify us immediately of any suspected unauthorized access. We strongly advise you to enable all security features that are available to you; this offers you enhanced protection from possible malicious attacks. Nara will not be liable for any loss or damage arising from your failure to protect your Account information or private keys.
7. ACCOUNT SUSPENSION AND TERMINATION
7.1. Nara reserves the right to suspend or terminate your Account and access to the Services at its sole discretion, without notice, for reasons including but not limited to: a) Violation of these Terms; b) Compliance with a request from law enforcement or a government agency; c) Suspected fraudulent, illegal, or unauthorized activity; d) Security concerns regarding your Account; e) Transacting with Blocked Addresses; f) Engaging in prohibited activities or transactions as defined in these Terms.
7.2. You may terminate this Agreement at any time by terminating your Account in accordance with these Terms. You may not terminate your Account if Nara believes, in its sole discretion, that such termination is being performed in an effort to evade a court order or legal or regulatory investigation or to avoid paying any amounts otherwise due to Nara.
7.3. Upon closure or suspension of your Account, you authorize Nara to cancel or suspend pending transactions and forfeit all proprietary rights and claims against Nara in relation to any assets otherwise eligible for redemption.
7.4. In the event that you or Nara terminates this Agreement or your access to the Services, or cancels your Account, you remain liable for all activity conducted on or with your Account while it was active and for all amounts due hereunder.
8. TRANSACTION LIMITS AND CONTROLS
8.1. Nara reserves the right to establish individual or aggregate transaction limits on the size or number of purchases, redemptions, transfers or other transactions that you initiate using your Account during any specified time period. We reserve the right to change these limits as we deem necessary.
8.2. We may, in our sole discretion, delay any transaction if we believe that such transaction is suspicious, may involve fraud or misconduct, violates Applicable Laws or payment network rules, or violates any term of these Terms.
8.3. If you have insufficient funds in your Account to complete a transaction, such transaction will not be completed.
9. ISSUANCE AND REDEMPTION OF VAULT TOKENS
9.1. Purchase (Issuance): You may purchase Vault Tokens on the Platform at the prevailing price, which will be based on the Net Asset Value (NAV) of the relevant Investment Strategy at the time of purchase, plus any applicable fees.
9.2. Redemption: You may request to redeem your Vault Tokens through the Platform. The redemption value will be based on the NAV of the Investment Strategy at the time of processing, less any applicable fees or redemption charges. Processing times may vary, and redemption may be subject to lock-up periods or other conditions disclosed for each specific Investment Strategy.
9.3. Irreversibility: Once a transaction has been initiated, it cannot be reversed or refunded, except as set forth in these Terms. You may have additional refund or chargeback rights under your agreement with the recipient of such funds, your financial institution, or Applicable Laws.
10. RIGHT TO CHANGE/REMOVE FEATURES OR SUSPEND/DELAY TRANSACTIONS
We reserve the right to change, suspend, or discontinue any aspect of the Services or the Platform at any time, including hours of operation or availability of any feature, without notice and without liability. We may also temporarily suspend Services in the event that a technical problem causes system outage or Nara errors until the problem is resolved.
11. RISK DISCLOSURES
Your use of the Services is entirely at your own risk. This section outlines the significant risks associated with purchasing, holding, and using Vault Tokens and the Services. This does not purport to disclose all possible risks. You are solely responsible for making your own independent appraisal and investigation into the risks of any transaction. If you do not understand the risks involved, you should not use the Services.
11.1. Market and Investment Risks
No Guarantee of Profit; Risk of Total Loss: The primary risk associated with Vault Tokens is the risk of investment loss. The value of a Vault Token is derived from the value of the Underlying Assets in its corresponding Investment Strategy. The value of these assets can and will fluctuate. There is no guarantee that any Investment Strategy will be profitable or achieve its objectives. You may lose a substantial portion or all of your principal investment.
Inherent Volatility of Digital Assets: Many Investment Strategies will involve holding digital assets, which are known to be extremely volatile. The value of digital assets can be affected by a wide range of factors, including market sentiment, regulatory changes, technological developments, and macroeconomic factors. Prices can fall dramatically in a very short period.
Strategy-Specific Risks: Each Investment Strategy carries its own unique set of risks, including but not limited to: (a) Leverage Risk - Some strategies may use leverage (borrowed funds) to amplify returns. While this can increase profits, it also magnifies losses. A small adverse movement in the market can result in a total loss of the leveraged position; (b) Derivatives Risk - Strategies may use derivatives (e.g., futures, options, swaps). Derivatives are complex instruments and carry risks including counterparty risk, liquidity risk, and the risk of incorrect valuation; (c) Concentration Risk - A strategy may be concentrated in a small number of assets or a specific sector. This lack of diversification means that the poor performance of a single asset or sector can have a disproportionately large negative impact; (d) Active Management Risk - The success of an Investment Strategy depends on the skill of Nara's management team. The team's investment decisions may not be successful, and the strategy may underperform its benchmark or the broader market.
Liquidity Risk and Redemption Gates: The ability to redeem your Vault Tokens for their underlying value depends on Nara's ability to sell the Underlying Assets. In illiquid or stressed market conditions, it may be difficult or impossible to sell assets at a fair price. In such circumstances, Nara reserves the right to suspend, delay, or process only partial redemptions ("gating"). This means you may not be able to access your funds when you wish to.
No Peg or Stable Value: Vault Tokens are not stablecoins. They are not designed to maintain a stable value and are not pegged to any fiat currency or other asset. Their value is expected to be volatile. You should not use Vault Tokens as a store of value or for any purpose that requires price stability.
11.2. Payment Financing and Cross-Border Remittance Risks
Payment Financing Strategy Risk: Certain Investment Strategies may involve financing cross-border payments, remittances, or other payment-related activities. These strategies carry specific risks including:
(a) Credit Risk - The risk that borrowers or counterparties in payment financing arrangements may default on their obligations, resulting in losses to the Investment Strategy. This includes the risk that payment service providers, money transfer operators, or end-users may fail to repay advances or fulfill their contractual obligations;
(b) Foreign Exchange Risk - Cross-border payment financing involves exposure to multiple currencies and exchange rate fluctuations. Currency volatility can significantly impact the value of the Underlying Assets and your Vault Tokens. Hedging strategies may not be effective or available, and currency controls or restrictions may prevent effective risk management;
(c) Regulatory and Compliance Risk - Payment services and cross-border remittances are heavily regulated in most jurisdictions. Changes in regulations, anti-money laundering (AML) requirements, know-your-customer (KYC) standards, sanctions, or compliance requirements could restrict or prohibit certain payment financing activities. Regulatory enforcement actions against payment service providers could result in frozen funds or operational disruptions;
(d) Settlement Risk - The risk that a payment transaction may not settle as expected, leaving the Investment Strategy exposed to losses. This includes risks related to payment system failures, correspondent banking relationships, and clearing and settlement mechanisms;
(e) Liquidity Risk in Payment Flows - Payment financing strategies depend on predictable cash flows from payment volumes and timing. Disruptions in remittance patterns, seasonal variations, economic downturns in key corridors, or changes in migration patterns could affect the strategy's ability to meet its obligations and generate expected returns;
(f) Counterparty Concentration Risk - Payment financing may involve concentration in specific payment corridors (e.g., specific country pairs), currencies, or counterparties (such as major money transfer operators). This concentration increases exposure to localized economic, political, or regulatory risks that could disproportionately impact the Investment Strategy;
(g) Operational Risk in Payment Systems - Payment financing relies on complex technological infrastructure and operational processes. System failures, cybersecurity breaches, fraud, or operational errors by payment service providers could result in financial losses or operational disruptions;
(h) Political and Economic Risk - Cross-border payment financing is exposed to political instability, economic crises, capital controls, and changes in government policies in the countries involved in payment corridors. Such events could disrupt payment flows, impose restrictions on fund transfers, or result in asset freezes.
11.3. Legal and Regulatory Risks
Uncertain Regulatory Framework: The legal and regulatory treatment of digital assets, tokenized funds, and decentralized finance (DeFi) is evolving and uncertain in most jurisdictions. New laws, regulations, or interpretations may be enacted that could materially and adversely affect the Nara Protocol, the value of Vault Tokens, and your ability to use the Services. There is no assurance that such changes will not be detrimental.
Regulatory Status and Transfer Recognition: The regulatory status of Vault Tokens and blockchain technology is unclear or unsettled in many jurisdictions. It is difficult to predict how or whether regulatory agencies may apply existing regulation with respect to Vault Tokens, blockchain technology and its applications. Accordingly, it is not possible to determine whether a Vault Token transfer would be recognized under applicable law by a court or regulator. You acknowledge that Vault Token transfers may not be legally recognized or enforceable in certain jurisdictions, and you assume all risks associated with such regulatory uncertainty.
User Compliance Responsibility for Transfers and DeFi Usage: You acknowledge and agree that you are solely and exclusively responsible for ensuring full compliance with all applicable laws, regulations, and legal requirements when transferring Vault Tokens to third parties or using Vault Tokens in any capacity outside the Nara Platform. This responsibility includes, but is not limited to:
a) Securities Law Compliance: Determining whether any transfer or usage of Vault Tokens constitutes a securities transaction under applicable securities laws and ensuring compliance with all registration, disclosure, and other requirements;
b) Investment Services Regulation: Ensuring compliance with laws governing investment services, collective investment schemes, fund management, or similar regulated activities in any jurisdiction where you transfer or use Vault Tokens;
c) Anti-Money Laundering (AML) and Know Your Customer (KYC) Requirements: Conducting appropriate due diligence on recipients of Vault Token transfers and ensuring compliance with AML/KYC obligations that may apply to such transfers;
d) Tax Compliance: Determining and fulfilling all tax obligations, including income tax, capital gains tax, value-added tax, or other taxes that may arise from transfers or DeFi usage in any relevant jurisdiction;
e) Cross-Border Transfer Restrictions: Ensuring compliance with foreign exchange controls, cross-border payment regulations, and any restrictions on international transfers of digital assets;
f) DeFi Protocol Compliance: When using Vault Tokens in decentralized finance protocols, smart contracts, or automated market makers, ensuring that such usage complies with all applicable financial services regulations, including but not limited to regulations governing trading, lending, borrowing, or yield farming activities;
g) Licensing and Registration Requirements: Determining whether your activities require any licenses, registrations, or authorizations under applicable financial services laws and obtaining such permissions where required;
h) Consumer Protection Laws: Ensuring compliance with consumer protection regulations that may apply when transferring Vault Tokens to retail investors or using them in consumer-facing applications;
i) Sanctions and Prohibited Persons Screening: Verifying that all recipients and counterparties in transfers or DeFi transactions are not subject to economic sanctions or other legal restrictions.
No Nara Responsibility for External Usage: Nara expressly disclaims any responsibility for monitoring, ensuring, or verifying your compliance with applicable laws when you transfer Vault Tokens or use them outside the Nara Platform. You acknowledge that Nara has no obligation to provide legal, regulatory, or compliance guidance regarding such activities, and you agree to seek independent professional advice regarding your obligations.
Potential Classification as Financial Instruments: Vault Tokens may be deemed to be securities, collective investment schemes, or other regulated financial instruments in one or more jurisdictions. Such a determination could require Nara to obtain licenses or registrations, which may not be possible. Regulatory action could force Nara to restrict, suspend, or cease the issuance or redemption of Vault Tokens, potentially leading to a loss of your investment.
Government Intervention: Vault Tokens are not legal tender and are not backed by any government or central bank. They do not benefit from any government-sponsored insurance or protection (such as deposit insurance). In the event of a crisis, there is no central authority that will take corrective measures to protect the value of Vault Tokens.
Compliance and Enforcement Actions: To comply with Applicable Laws or directives from regulatory or law enforcement authorities, Nara may be required to freeze assets, suspend accounts, or restrict access to the Services. We may not be able to provide you with prior notice of such actions.
Third-Party Platform Risks and Compliance: If you choose to use Vault Tokens on third-party platforms, decentralized exchanges, or DeFi protocols, you acknowledge that such platforms may be subject to different regulatory requirements, may not be regulated at all, or may be prohibited in certain jurisdictions. You are solely responsible for ensuring compliance with all applicable laws when using Vault Tokens outside of the Nara Platform, including but not limited to:
a) Verifying that the third-party platform or protocol is legally permitted to operate in your jurisdiction; b) Ensuring that your use of such platforms complies with all applicable financial services regulations; c) Understanding and accepting the regulatory status and legal risks associated with such platforms; d) Complying with any licensing, registration, or reporting requirements that may apply to your activities on such platforms.
Regulatory Enforcement Risk: You acknowledge that regulatory authorities may take enforcement actions against users of digital assets, DeFi protocols, or blockchain-based financial services. You assume all risks of regulatory enforcement, including but not limited to fines, penalties, asset freezes, criminal prosecution, or other legal consequences that may result from your transfer or usage of Vault Tokens outside the Nara Platform.
11.4. Blockchain and Technical Risks
Cybersecurity Risk: The Nara Platform, smart contracts, and all related software are vulnerable to cybersecurity threats. Malicious actors may attempt to exploit vulnerabilities to steal Underlying Assets. While Nara implements security measures, there is no guarantee that these measures will be successful. A successful hack could result in the total loss of your investment.
Smart Contract Risk: The Nara Protocol relies on smart contracts, which are self-executing contracts with terms written into code. These smart contracts may contain bugs, errors, or vulnerabilities that were not detected during auditing. Exploitation of such flaws could lead to the loss of funds.
Blockchain Fork Risk: As a result of the decentralized and open source nature of the blockchains on which Vault Tokens operate, it is possible that a party unaffiliated with Nara could create an alternative version of the blockchain (a "fork"). In the event of a fork, Nara may be forced to suspend all activities relating to Vault Tokens for an extended period of time until Nara has determined in its sole discretion that such functionality can be restored. This downtime will likely occur immediately upon a fork, potentially with little to no warning, and during this period you will not be able to conduct various activities involving Vault Tokens.
Migration Rights: Nara reserves the right to migrate Vault Tokens to another blockchain or protocol in the future in its reasonable discretion. Upon Nara's request, you agree to take any and all actions reasonably necessary to effectuate the migration of your Vault Tokens to another blockchain or protocol identified by Nara. Nara will not be responsible or liable for any damages arising out of your failure to effectuate such migration.
Technology and Platform Risk: The Services depend on various technologies, including the internet, blockchain networks, and our own platform. These systems may experience failures, disruptions, or errors that could prevent you from accessing your Account, placing orders, or redeeming your Vault Tokens. Nara does not have any ability or obligation to prevent or mitigate attacks or resolve any other issues that might arise with any supported blockchain.
11.5. Counterparty and Operational Risks
Counterparty Risk: Nara relies on various third-party service providers, including custodians who hold the Underlying Assets, exchanges for executing trades, payment processors, and data providers. The insolvency, failure, or misconduct of any of these counterparties could have a material adverse effect on the security and availability of the Underlying Assets and, consequently, the value of your Vault Tokens.
Risk of Erroneous Transmission: When you send digital assets to Nara or provide a wallet address for redemptions, it is your sole responsibility to ensure the accuracy of the address. Transactions on a blockchain are irreversible. If you provide an incorrect address, your funds may be permanently and irretrievably lost. Nara has no obligation to assist in recovery efforts.
11.6. Valuation Risk
Net Asset Value (NAV) Calculation: The value of your Vault Tokens is determined by the Net Asset Value (NAV) of the Underlying Assets. Nara calculates this NAV based on data from various sources, including exchanges and third-party pricing services. There is a risk that the data used for valuation may be inaccurate, stale, or manipulated, leading to an incorrect NAV calculation. This could result in you purchasing or redeeming Vault Tokens at a price that does not accurately reflect the true value of the Underlying Assets.
Illiquid Asset Valuation: Some Investment Strategies may hold assets that are illiquid or do not have a readily available market price. Valuing such assets is a subjective process and relies on models and estimates. These valuations may not be realized upon the sale of the assets, which could negatively impact the redemption value of your Vault Tokens.
11.7. General Acknowledgement
By using the Services, you acknowledge that you have read, understood, and accepted all the risks outlined in this section. You confirm that you are making an informed decision based on your own independent assessment and that you have the financial sophistication and resources to bear the risks of losing your entire investment. Nara does not provide any investment, financial, legal, or tax advice. You are solely responsible for consulting with your own professional advisors regarding your individual circumstances.
12. REPRESENTATIONS, WARRANTIES, AND COVENANTS
By creating an Account and/or using the Services, you represent, warrant, and covenant that:
a) You have the full right, power, and authority to enter into and be bound by these Terms and to perform your obligations hereunder.
b) You are not a U.S. Person and are not located in, incorporated in, or a citizen or resident of any Restricted Jurisdiction.
c) You are not a Restricted Person and are not on any trade or economic sanctions lists, such as the UN Security Council Sanctions list, or designated as a "Specially Designated National" by OFAC (Office of Foreign Assets Control of the U.S. Treasury Department).
d) Your use of the Services is and will remain in full compliance with all Applicable Laws in your jurisdiction.
e) You are the legal owner of any funds or digital assets you transfer to your Account, and these assets are not the direct or indirect proceeds of any criminal or fraudulent activity.
f) You are sophisticated in financial matters and are capable of evaluating the merits and risks of purchasing and holding Vault Tokens. You have sufficient knowledge and experience in digital assets and blockchain technology to understand the risks involved.
g) You are purchasing and holding Vault Tokens for your own account and not on behalf of any other person.
h) You will not use the Services for any illegal purpose, including but not limited to money laundering, terrorist financing, or fraudulent activities.
i) You will not transact with Blocked Addresses or engage in any prohibited activities as defined in these Terms.
j) All information you provide to Nara, including during the KYC/KYB process, is true, accurate, and complete, and you will promptly update such information if it changes.
k) You understand and expressly accept that you are solely responsible for determining the tax implications of your participation in the Services, and you will comply with all applicable tax laws.
l) You acknowledge and agree that if you transfer Vault Tokens to third parties or use them in DeFi protocols or other applications outside the Nara Platform, you are solely responsible for: (i) ensuring such activities comply with all applicable laws and regulations in all relevant jurisdictions; (ii) any legal, regulatory, or tax consequences arising from such transfers or usage; (iii) verifying that recipients are legally permitted to receive and hold Vault Tokens; and (iv) any losses or damages resulting from third-party platform failures, smart contract exploits, or regulatory actions.
m) You understand that the legal status of Vault Token transfers is uncertain in many jurisdictions and that such transfers may not be legally recognized or enforceable by courts or regulators.
13. PROHIBITED ACTIVITIES AND TRANSACTIONS
You agree not to use the Services to engage in any of the following activities ("Prohibited Activities"):
a) Any activity that violates any law, statute, ordinance, or regulation; b) Money laundering, terrorist financing, or any other financial crimes; c) Fraud, market manipulation, or any deceptive practices; d) Hacking, phishing, or any other cybersecurity attacks; e) Transacting with Blocked Addresses or Restricted Persons; f) Any activity that could damage, disable, overburden, or impair the Platform; g) Any activity that interferes with any other party's use of the Services; h) Any activity that violates the intellectual property rights of Nara or any third party.
14. COMPLIANCE WITH ANTI-MONEY LAUNDERING AND COUNTER-TERRORIST FINANCING LAWS
Nara is committed to complying with all applicable AML and CTF laws and regulations. These standards are designed to prevent the use of the Services for money laundering, terrorist financing, fraudulent transactions, and any other illegal activities. Nara takes compliance very seriously and actively engages in measures to:
• Prohibit fraudulent transactions; • Report suspicious activities; • Prevent money laundering, terrorist financing, and any related acts that facilitate financial crimes.
You agree to cooperate with all compliance measures implemented by Nara and to provide any information requested for compliance purposes.
15. DISCLAIMER OF WARRANTIES AND LIMITATION OF LIABILITY
15.1. THE SERVICES, THE PLATFORM, AND ANY AND ALL INFORMATION AND MATERIALS PROVIDED BY NARA ARE PROVIDED ON AN "AS IS" AND "AS AVAILABLE" BASIS. NARA EXPRESSLY DISCLAIMS AND YOU WAIVE ANY AND ALL WARRANTIES OF ANY KIND, WHETHER EXPRESS, IMPLIED, OR STATUTORY, INCLUDING, WITHOUT LIMITATION, IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, TITLE, AND NON-INFRINGEMENT.
15.2. NARA DOES NOT REPRESENT OR WARRANT THAT THE SERVICES OR THE PLATFORM WILL BE UNINTERRUPTED, TIMELY, SECURE, OR ERROR-FREE, THAT ANY DEFECTS WILL BE CORRECTED, OR THAT THE PLATFORM OR THE SERVERS THAT MAKE IT AVAILABLE ARE FREE OF VIRUSES OR OTHER HARMFUL COMPONENTS. NARA MAKES NO WARRANTY THAT THE SERVICES WILL MEET YOUR REQUIREMENTS OR THAT THE QUALITY OF ANY PRODUCTS, SERVICES, INFORMATION, OR OTHER MATERIAL PURCHASED OR OBTAINED BY YOU WILL MEET YOUR EXPECTATIONS.
15.3. TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, IN NO EVENT SHALL NARA, ITS AFFILIATES, AND THEIR RESPECTIVE SHAREHOLDERS, MEMBERS, DIRECTORS, OFFICERS, EMPLOYEES, ATTORNEYS, AGENTS, REPRESENTATIVES, SUPPLIERS, OR CONTRACTORS (COLLECTIVELY, THE "INDEMNIFIED PERSONS") BE LIABLE FOR ANY INDIRECT, SPECIAL, INCIDENTAL, CONSEQUENTIAL, PUNITIVE, OR EXEMPLARY DAMAGES OF ANY KIND, INCLUDING BUT NOT LIMITED TO, DAMAGES FOR LOSS OF PROFITS, LOSS OF REVENUE, LOSS OF BUSINESS, LOSS OF OPPORTUNITY, LOSS OF DATA, OR LOSS OF PRINCIPAL INVESTMENT, ARISING OUT OF OR IN ANY WAY RELATED TO THE USE OF OR INABILITY TO USE THE SERVICES, THE PLATFORM, OR THE VAULT TOKENS, REGARDLESS OF THE FORM OF ACTION, WHETHER BASED IN CONTRACT, TORT, (INCLUDING, BUT NOT LIMITED TO, SIMPLE NEGLIGENCE, WHETHER ACTIVE, PASSIVE, OR IMPUTED), OR ANY OTHER LEGAL OR EQUITABLE THEORY (EVEN IF THE PARTY HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES AND REGARDLESS OF WHETHER SUCH DAMAGES WERE FORESEEABLE).
15.4. NARA'S MAXIMUM AGGREGATE LIABILITY TO YOU FOR ANY AND ALL CLAIMS, LOSSES, OR DAMAGES ARISING OUT OF OR IN CONNECTION WITH THESE TERMS, OR YOUR USE OF THE SERVICES, THE PLATFORM, OR ANY VAULT TOKEN, SHALL NOT EXCEED THE TOTAL MANAGEMENT FEES PAID BY YOU TO NARA IN THE TWELVE (12) MONTH PERIOD IMMEDIATELY PRECEDING THE EVENT GIVING RISE TO THE CLAIM FOR LIABILITY.
15.5. SOME JURISDICTIONS DO NOT ALLOW THE EXCLUSION OF CERTAIN WARRANTIES OR THE LIMITATION OR EXCLUSION OF LIABILITY FOR INCIDENTAL OR CONSEQUENTIAL DAMAGES. ACCORDINGLY, SOME OF THE LIMITATIONS SET FORTH ABOVE MAY NOT APPLY TO YOU. IF ANY PROVISION OF THIS SECTION CANNOT BE GIVEN FULL EFFECT UNDER THE LAWS OF YOUR JURISDICTION, REVIEWING COURTS SHALL APPLY LOCAL LAW THAT MOST CLOSELY APPROXIMATES THE INTENDED ECONOMIC EFFECT OF SUCH PROVISION.
16. INDEMNIFICATION
You agree to indemnify, defend, and hold harmless the Indemnified Persons from and against any and all claims, demands, actions, damages, losses, costs, and expenses (including reasonable attorneys' fees and any losses, fines, fees or penalties imposed by any regulatory authority) that arise from or relate to: (a) your use of the Services or the Platform; (b) your breach of these Terms or any representation, warranty, or covenant made by you herein; (c) your violation of any Applicable Laws or the rights of any other person or entity; (d) any feedback, suggestions, or ideas you provide to Nara; and (e) your engagement in any Prohibited Activities.
If you have a dispute with one or more Users or third parties, you release the Indemnified Persons from all claims, demands, and damages (actual and consequential) of every kind and nature arising out of or in any way connected with such disputes.
17. RIGHT TO SET-OFF
17.1. Nara may and is authorized, without prior notice and both before and after demand, to set off the whole or any part of your liabilities or other amounts payable to Nara, including but not limited to fees, whether such amounts are present or future, actual or contingent, or liquidated or unliquidated, against any sums held by Nara and owed to you, whether under these Terms or any other agreement between Nara and you.
17.2. For the purpose of exercising its rights under this Section: (i) Nara is entitled to convert and/or exchange any digital assets owned by you and held by Nara, and is authorized to effect any such conversions at the then prevailing exchange rate; and (ii) if your liability is contingent and/or unliquidated, then Nara may set off the amount it estimates in good faith will be the liquidated amount.
18. INTELLECTUAL PROPERTY
18.1. Subject to your continued compliance with these Terms, Nara grants you a revocable, limited, royalty-free, non-exclusive, non-transferable, and non-sublicensable license to access and use the Services and the Platform for your personal, internal use only. All rights not expressly granted under these Terms are hereby reserved.
18.2. These Terms provide only a limited license. You agree that Nara transfers no ownership or intellectual property right, title, or interest in and to the Services, the Platform, or any related intellectual property to you. All intellectual property rights, including text, graphics, user interfaces, computer code, and the design, structure, and arrangement of content, are exclusively owned, controlled, and/or licensed by Nara or its licensors.
18.3. You hereby assign to us all right, title, and interest in any feedback, suggestions, ideas, or other information you provide regarding Nara or the Services ("Feedback"). We will own all Feedback and you waive any claim for acknowledgment or compensation for such Feedback.
18.4. "Nara", "Nara Finance", and all logos related to the Services are either trademarks or registered marks of Nara or its licensors. You may not copy, imitate, or use them without Nara's prior written consent.
19. SUBSTITUTION
Nara may, without your consent, at any time substitute itself with any affiliated legal entity (the "New Issuer") in respect of all rights and obligations under these Terms, provided that: (a) the New Issuer is able to fulfill all obligations arising from or in connection with the Vault Tokens; and (b) Nara has issued an irrevocable and unconditional guarantee in respect of the obligations of the New Issuer under these Terms.
20. ELECTRONIC NOTICES
You agree to receive all communications and notices from us electronically, via email or by posting on the Website or Platform. You are responsible for keeping your contact information in your Account profile up to date. We may from time to time make available certain information relating to the Services via the Platform or any of our social media or other channels. You acknowledge and agree that there shall be no presumption that any content made available via such channels are authentic and originate from us. You should exercise due caution and contact us to seek further verification if there is any reason to doubt the authenticity and integrity of any content.
21. FORCE MAJEURE
No Indemnified Person shall be liable for any delay, disruption, or failure of the Services if such event arose from circumstances beyond our reasonable control, including but not limited to natural disasters, epidemic or pandemic, war, strikes, pandemics, significant market disruptions, breakdown in public infrastructure, any disruption of any system or services provided by a third party service provider, interruption in telecommunications or network provider services, absence of a liquid market for any digital token, or changes in Applicable Laws.
22. TAXES
It is your responsibility to determine what, if any, taxes apply to the payments you make or receive through the Services, and to collect, report, and remit the correct tax to the appropriate tax authority. Nara is not responsible for determining whether taxes apply to your transactions, or for collecting, reporting, or remitting any taxes arising from any transaction.
23. MOBILE SERVICES
To the extent you access the Services through a mobile device, your wireless service carrier's standard charges, data rates, and other fees may apply. By using mobile Services, you agree that we may communicate with you by SMS, MMS, text message, push notification, and/or other electronic means via your mobile device and that certain information about your usage of the Services may be communicated to us. You hereby confirm that with respect to any mobile phone number provided, you own the account corresponding to that mobile phone number or otherwise have the account holder's permissions to use this service.
24. COPIES, WRAPPERS, AND FORKS NOT SUPPORTED
As a result of the decentralized and open source nature of Vault Tokens, it is possible that a party unaffiliated with Nara could create an alternative, equivalent version of Vault Tokens either on one of the supported blockchains or on an unsupported blockchain (a "copy") or create an asset that purports to be collateralized by or otherwise incorporates Vault Tokens into its design (a "wrapper"). Nara supports only official Vault Tokens and is under no obligation to support any copies or wrappers and assumes no responsibility for any value that might be lost as a result of this lack of support. No such copy or wrapper should be considered approved, sold, distributed, or promoted by Nara unless explicitly stated.
25. DISPUTE RESOLUTION AND MANDATORY ARBITRATION
25.1. Informal Dispute Resolution: If there are any concerns or disputes regarding these Terms, the Services or the Platform, you agree to first negotiate with us in good faith to resolve the dispute between you and us (which discussions shall remain confidential and be subject to applicable rules protecting settlement discussions from use as evidence in any legal proceeding). A ticket number will be assigned to you if your concerns cannot be addressed to your satisfaction at first instance. The issuance of the ticket number commences the internal dispute resolution procedure. We will attempt to resolve the dispute internally as soon as possible.
25.2. Formal Dispute Notice: In the event that the dispute cannot be resolved between you and Nara through informal means, and you wish to initiate a formal dispute resolution procedure, then you agree to set forth the basis of such claim in writing in a "Dispute Notice" as a form of prior notice to us. The Dispute Notice must (1) be in English, (2) describe the nature and basis of the claim or dispute, (3) set forth the specific relief sought, (4) provide the original ticket number, and (5) include your Account email.
25.3. Mandatory Binding Arbitration: Except for claims for injunctive or equitable relief or claims regarding intellectual property rights (which may be brought in the courts specified below), any dispute, controversy, or claim arising out of or in connection with these Terms, including their existence, validity, interpretation, performance, breach, or termination, that cannot be resolved through the informal dispute resolution process described above, shall be finally resolved by binding arbitration administered by the International Centre for Dispute Resolution (ICDR) in accordance with its International Arbitration Rules. The arbitration shall be conducted by a single arbitrator appointed in accordance with the ICDR Rules. The seat of arbitration shall be in the British Virgin Islands, and the language of the arbitration shall be English. The arbitrator's decision shall be final and binding upon all parties.
25.4. Class Action and Jury Trial Waiver: YOU AGREE THAT ANY DISPUTE RESOLUTION PROCEEDINGS, INCLUDING ARBITRATION, WILL BE CONDUCTED ONLY ON AN INDIVIDUAL BASIS AND NOT IN A CLASS, CONSOLIDATED, OR REPRESENTATIVE ACTION. YOU HEREBY EXPRESSLY WAIVE ANY RIGHT TO PARTICIPATE IN ANY CLASS ACTION LAWSUIT, CLASS-WIDE ARBITRATION, OR ANY OTHER REPRESENTATIVE OR COLLECTIVE PROCEEDING AGAINST NARA. YOU ALSO WAIVE ANY RIGHT TO A JURY TRIAL IN CONNECTION WITH ANY DISPUTE ARISING OUT OF OR RELATING TO THESE TERMS OR THE SERVICES.
25.5. Exceptions to Arbitration: Notwithstanding the foregoing, either party may seek injunctive or other equitable relief in any court of competent jurisdiction to protect its intellectual property rights or to enforce the arbitration provisions of these Terms.
25.6. Costs and Fees: Each party shall bear its own costs and expenses in connection with any arbitration proceeding, including attorney's fees, except as may be required by applicable law or as the arbitrator may determine.
26. MISCELLANEOUS
26.1. Entire Agreement
These Terms, along with the Privacy Policy, constitute the entire agreement between you and Nara with respect to your use of the Services and supersede any prior agreements or understandings between the parties.
26.2. Amendments
Nara may amend any portion of these Terms at any time by posting the revised version of these Terms with an updated revision date. The changes will become effective, and shall be deemed accepted by you, the first time you use the Services after the initial posting of the revised Terms and shall apply on a going-forward basis with respect to transactions initiated after the posting date. In the event that you do not agree with any such modification, your sole and exclusive remedy is to terminate your use of the Services and terminate your Account. If the revised Terms include a material change, we will provide you with prior notice via our website and/or email before the material change becomes effective.
26.3. Severability
If any provision of these Terms is found to be invalid or unenforceable by a court of competent jurisdiction or arbitrator, the remaining provisions shall remain in full force and effect, and the invalid or unenforceable provision shall be deemed modified to the minimum extent necessary to make it valid and enforceable.
26.4. Waiver
Any failure by Nara to exercise any right or remedy under these Terms shall not operate as a waiver of such right or remedy. Any single or partial exercise of any right or remedy shall not preclude any other or further exercise thereof or the exercise of any other right or remedy. Nara's rights and remedies under these Terms are cumulative and not exclusive of any rights or remedies provided by law or by any other agreement.
26.5. Assignment
You may not assign, novate or transfer any rights, interests, liabilities and/or obligations under these Terms without the prior written consent of Nara, and any such attempted assignment shall be void. However, you hereby acknowledge and agree that we shall have sole and absolute discretion to novate, transfer or assign these Terms or any of our rights, interests, liabilities and/or obligations at any time to anyone else, including in connection with any merger, acquisition, amalgamation or other corporate reorganisation involving Nara. If you object to such transfer or assignment, you may stop using our Services and terminate these Terms by contacting Nara and asking us to terminate your Account.
26.6. Change of Control
In the event that Nara is acquired by or merged with a third party entity, we reserve the right, in any of these circumstances, to transfer or assign the information we have collected from you as part of such merger, acquisition, sale, or other change of control.
26.7. Third-Party Rights
A person who is not a party to these Terms has no rights (including rights under any Applicable Laws) to enforce or enjoy the benefit of any part of these Terms.
26.8. Language
These Terms may, at our sole and absolute discretion, be translated into a language other than the English language. You agree that any such translation shall only be for your convenience and the English text shall prevail in the event of any ambiguity, discrepancy, or omission as between the English text and any translated text.
26.9. Potential Conflicts of Interest
You acknowledge and agree that we and our affiliates, shareholders, founders, principals, directors, officers, employees, and representatives or their respective affiliates (collectively, "Related Persons") may directly or indirectly use the Services or engage in transactions involving the Vault Tokens for ourselves and themselves. You acknowledge and agree that we and Related Persons may have potential conflicts of interest. To the extent permitted by law, you hereby waive any claim against us or Related Parties alleging breach of fiduciary duties, conflict of interest, or other similar cause of action, relating to, in connection with, or arising out of our and/or any Related Parties directly or indirectly using the Services or engaging in transactions involving the Vault Tokens.
26.10. Survival
Upon termination of your Account or these Terms for any reason, all rights and obligations of the parties that by their nature are continuing will survive such termination, including but not limited to the indemnification provisions, limitation of liability, dispute resolution, and governing law provisions.
26.11. Website and Third Party Content
Nara strives to provide accurate and reliable information and content on the Website, but such information may not always be correct, complete, or up to date. The Website may also contain links to third party websites, applications, events or other materials ("Third Party Content"). Such information is provided for your convenience and links or references to Third Party Content do not constitute an endorsement by Nara of any products or services. Nara shall have no liability for any losses incurred as a result of actions taken in reliance on the information contained on the Website or in any Third Party Content.
26.12. Governing Law
These Terms shall be governed by and construed in accordance with the laws of the British Virgin Islands, without regard to its conflict of laws principles.
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