Terms of service

1. Agreement

By creating an account or using NorthVault (“the Service”), you agree to these terms. If you do not agree, do not use the Service. The Service is operated by [operator legal name](“we”, “us”), a [province] entity.

2. What the Service is — and is not

The Service is a multi-asset wallet interface and market tracker. It records balances in its own ledger and displays market data supplied by third parties.

Transfers and swaps made through the Service settle within the Service and are not broadcast to any blockchain network. Transfer identifiers issued to you (NVT-BTC-…) are account references, not on-chain addresses. Do not send funds from an external wallet to an identifier issued here; anything sent that way cannot be received or recovered.

We do not sell crypto assets and take no fiat money. Where the Service points you to a third-party platform to buy from, that platform is an independent business, not our agent or partner. We receive nothing for the referral, we do not vouch for it, and anything you do there is between you and them under their own terms.

We are not a bank, and we are not a member of the Canada Deposit Insurance Corporation. Nothing held in the Service is insured by CDIC or by any provincial deposit insurer.

3. Regulatory status

[Operator: complete this section honestly before launch. It is the part a regulator reads first.]

In Canada, a business that is “dealing in virtual currency” — exchanging it for fiat or for other virtual currency, or transferring it on behalf of others — is a money services business under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act and must register with FINTRAC, maintain a compliance programme, verify client identity, keep records and report prescribed transactions. Operating unregistered is an offence.

Separately, platforms that facilitate trading in crypto assets may be subject to provincial securities law and to registration with the Canadian Securities Administrators as a dealer or marketplace.

Our current status: [registered / not registered]. FINTRAC MSB registration number: [number, or “not applicable”].

4. Identity verification

Before you may send or swap anything on the Service, you must complete identity verification. This is not a preference of ours: an MSB dealing in virtual currency is required to identify every client and to keep the resulting records.

• You must give your full legal name, date of birth, occupation and Canadian residential address, and they must be accurate. Giving false information is a breach of these terms and may be an offence.
• You must let us verify your identity by one of the prescribed methods — authentic government photo identification, a Canadian credit file, or two independent reliable sources.
• You must tell us the intended purpose of the account and the source of the assets, and answer our determinations about politically exposed persons, heads of international organisations, and whether a third party is involved.
• You must keep this information current and tell us when it changes. We may ask you to re-verify at any time, including where a transaction or pattern warrants it.
• Until you are verified you may hold and view an account, but you may not send or swap.

We may refuse to verify you, request more information, or decline or close an account, and we may be prohibited by law from telling you the reason. We may also be required to report to FINTRAC or to respond to a lawful demand without notifying you. What we collect and how long we keep it is set out in the Privacy Policy.

5. Eligibility and accounts

• You must be at least the age of majority in your province or territory and legally able to enter a contract.
• Provide accurate registration details and keep them current.
• You are responsible for your password and for activity under your account. Enable two-factor authentication, and tell us promptly about unauthorised access.
• One person may not operate multiple accounts to evade limits or suspensions.
• We may refuse, suspend or close an account where required by law or where these terms are breached.

6. Acceptable use

You agree not to:

• Use the Service for anything unlawful, or to launder proceeds of crime or finance terrorism.
• Access another user's account or data, or probe, scan or test the security of the Service without our written permission.
• Interfere with the Service's operation, including automated requests at a rate that degrades it for others.
• Reverse engineer or resell the Service without permission.

7. Market data

Prices, market capitalisations and charts are supplied by third parties, are indicative only, and may be delayed, incomplete or wrong. They are not investment advice, not a recommendation, and not an offer to trade. Crypto assets are volatile and you can lose money. Verify independently before making any decision.

8. Swaps and transfers

• Swaps are priced at the rate held by the Service at the moment of execution, less the fee shown before you confirm. The rate quoted beforehand is indicative and may move.
• A transfer to another account on the Service is credited immediately and cannot be reversed. Check the recipient identifier before confirming.
• We may impose limits on the size or frequency of transactions.

9. Fees

Swaps carry a fee of 0.50%, disclosed in the swap dialog before you confirm. Transfers between accounts on the Service are free. We will give notice before changing fees.

10. No warranty

To the fullest extent permitted by law, the Service is provided “as is” and “as available”, without warranties or conditions of any kind, express or implied. We do not warrant that it will be uninterrupted or error free.

11. Limitation of liability

To the fullest extent permitted by law, we are not liable for indirect, incidental, special, consequential or punitive damages, or for lost profits, revenue or data, arising from your use of the Service. Our aggregate liability for any claim is limited to [amount, or “the fees you paid us in the 12 months before the claim”].

Nothing in these terms limits rights you have under applicable consumer protection legislation, including the consumer protection Act of your province and, in Quebec, the Consumer Protection Act. Nor do they exclude liability for death or personal injury caused by negligence, or for fraud or fraudulent misrepresentation.

12. Indemnity

You agree to indemnify us against claims arising from your breach of these terms or your unlawful use of the Service, except to the extent the claim results from our own negligence or wrongdoing.

13. Changes and termination

We may modify the Service or these terms. Material changes will be reflected in the date at the top of this page and, where the law requires, notified to you in advance. Continued use after a change takes effect constitutes acceptance. You may stop using the Service and request account deletion at any time.

14. Governing law and disputes

These terms are governed by the laws of the Province of [province] and the federal laws of Canada applicable in that province. You and we submit to the non-exclusive jurisdiction of the courts of [province].

If you are a consumer, this does not deprive you of the protection of the mandatory rules of the province where you live, or of your right to bring proceedings there. Quebec residents retain the rights conferred by the Consumer Protection Act, including the right to bring an action in Quebec.

15. Language

[If you serve Quebec residents, the Charter of the French Language requires a French version of these terms, and a Quebec consumer may be entitled to rely on the French text. Have one prepared.]

16. Contact

Questions about these terms: contact us or write to [legal contact email]. See also the privacy policy.