These General Terms and Conditions (GTC) govern the business relationship between Aury Crypto AG (hereinafter referred to as the “Company”) and its clients (hereinafter referred to as the “Client”). They apply to all services and transactions provided by the Company, unless otherwise agreed in writing.
Aury shall verify the identity of the Client and their representatives (hereinafter the “Representatives”, each a “Representative”) authorised to act on behalf of and for the account of the Client with due care and according to applicable laws, rules and regulations. Aury may request any kind of information and/or documentation from the Client which Aury deems necessary to comply with applicable laws, rules and regulations.
The Client shall be responsible for the careful and safe storage of all documents and information concerning the relationship. The Client shall prevent any access to or use of Aury’s services by unauthorised third parties. In particular, the Client shall keep all electronic access devices and/or passwords and identification keys concerning Aury strictly confidential. In case the Client detects any irregularities in this context or notices the loss of confidential documents or information, the Client shall inform Aury without delay.
Unless explicitly stated otherwise in these GTC, or unless the context requires otherwise, all references to the Client shall also be understood to include any Representative(s).
The Client shall be entitled to give instructions to Aury, and the Representatives shall be deemed authorised to act on behalf of and for the account of the Client until the Client notifies Aury in writing in the relevant form to the contrary. Unless the relevant obligation or duty shall be clearly and unambiguously understood as being incumbent upon the Client exclusively, any and all duties and obligations of the Client pursuant to these GTC and/or the Client Contract shall also be incumbent upon any Representative.
If Aury has doubts or concerns in connection with the identity of the Client and/or any rights and obligations in connection with the relationship, Aury may take any action Aury deems appropriate (including, without limitation, block any assets or accounts, refuse the execution of any orders or instructions, or terminate the relationship).
Any loss of or restriction to the legal capacity (including, without limitation and if applicable, death, declaration of presumed death, or the opening of insolvency or bankruptcy proceedings) of the Client or any other third party acting on the Client’s behalf, and any comparable situations, shall be reported to Aury in writing without undue delay. If the Client fails to do so, or if the Client itself is legally incapacitated, any loss or damage resulting from acts and omission (not) performed by Representatives or third parties or any loss or damage resulting from legal incapacity shall be borne exclusively by the Client.
In case of any loss of or restriction to the legal capacity of the Client as per the previous paragraph, or in any comparable situation, Aury may act, in relation to the relationship, in accordance with the instructions provided by the duly authorized Representative(s) of the Client, like the Client’s heirs, the insolvency or bankruptcy administrators, or any further person authorised by law or otherwise to act on behalf of the Client in such an event, as applicable. Aury may, in its sole discretion, carry out any actions it deems necessary or appropriate to safeguard the interests at stake in the given circumstances.
The Client shall provide Aury without undue delay with all information required according to any law, rules and (internal) regulations and/or Aury for conducting the relationship. Such obligations apply to information concerning the Client, their beneficial owners, controlling persons, beneficiaries, and other persons directly or indirectly involved in the relationship. The Client shall promptly execute all documents as reasonably requested by Aury from time to time and required to conduct the relationship. The Client shall ensure that all information provided to Aury is always accurate, up-to-date, non- misleading and complete.
The Client shall notify Aury without undue delay in writing of any changes in circumstances which might cause the information and/or documentation provided to Aury to become incomplete or inaccurate, including but not limited to, name, address, domicile, e-mail address, as well as the revocation of powers of attorney or signatory powers. Further, the Client shall notify Aury without undue delay of any facts, events (such as, without limitation and if applicable, insolvency, bankruptcy, dissolution (including the opening of a dissolution process) or financial difficulties of the Client) or other information that may impact or otherwise be relevant in connection with the relationship between the Client and Aury. Aury shall be entitled to rely on the information received from the Client until updated information has been provided by the Client.
In case the Client identifies any irregularities relating to its relationship with Aury, the Client shall notify Aury without delay and to provide further details, for example if the Client knows or suspects that documents or information in connection with the relationship have become known to unauthorized third parties.
Where the Client fails to comply with the obligations of this article, then Aury may – without prejudice to any other rights Aury has – charge the Client for expenses and costs caused by such failure.
Aury may use postal and courier services, telephone, and other voice transmissions as well as any electronic means of communication (including but not limited to e-mail, text messaging, communications through or within digital systems or mobile applications, and any other electronic channels and platforms), also unencrypted, to communicate with the Client. Aury may at its own discretion contact the Client at the physical, electronic, or other addresses as notified by the Client to Aury or at any other addresses previously used by them in communications with Aury. Aury may from time to time agree on specific or preferred communication channels with the Client.
Aury is permitted to provide legally relevant information, conditions, and documents to the Client and to fulfil, to the extent admissible by applicable law, information, or disclosure duties (including duties of financial market regulation in connection with investor protection and transparency) vis-à-vis the Client by way of publication on the internet or other media as Aury considers appropriate.
Any communication from Aury shall be deemed to have been duly transmitted to (and received) by the Client upon dispatch by Aury by any means of communication agreed with the Client, upon publication on the internet or other appropriate media, where applicable.
Communications made through or from any of the communication channels agreed with the Client shall be deemed to be made by the Client. Aury is under no obligation, but reserves the right to verify the authenticity of the Client’s communication in a manner that Aury deems appropriate at its own discretion. Any losses and/or damages in connection with delays and/or non-performance caused by such authentication checks shall be borne exclusively by the Client.
The use of any communication channels as permitted to be used by Aury, in particular unencrypted communications, entails various risks which may result in exposure of the Client relationship and loss or damages. The same applies to the use of such communications channels by the Client.
Relevant risks may include, but are not limited to, the risks of transmission errors in the form of misrouting, loss or delay of messages, the risk of interception and/or manipulation of content, sender data or other message elements by unauthorized third parties or the risk of introducing viruses or other malware. Furthermore, the use of communication channels entails the risk of impairment or lack of confidentiality, in particular that the Client’s business relationship with Aury and confidential information relating thereto might be disclosed to third parties, and, depending on the jurisdictions involved in the transmission, risks in connection with a lower level of data protection.
The Client shall implement and maintain with due care appropriate security measures with respect to the communication channels and/or devices used by the Client with Aury. In particular, when issuing orders or instructions to Aury or engaging in other sensitive or time-sensitive communications, the Client shall with due care apply, precautionary measures to address and mitigate the risk of interception, manipulation or other fraudulent activities, including by using communication channels with a higher level of protection, and shall verify executed orders, instructions or transactions without delay.
The Client shall be responsible to ensure that e- mails from Aury are authentic. Aury never asks the Client to send login credentials by e-mail or enter them in a website other than Aury’s website with the URL “https://www.aury-brokerage.com/” or the Online (as defined below) accessible from that website. Accordingly, the Client shall not reply to such e-mails that do not comply with this clause and do not follow the instructions given therein.
The Client shall ensure that the instructions to Aury are clearly and unambiguously formulated. Any confirmation or modification of an instruction shall be identified as such. If certain communication channels have been agreed between the Client and Aury, Aury may ignore any communication sent by the Client through other channels.
The Client acknowledges and accepts the risks associated with the use of communication channels and shall have no claim against Aury where these risks materialize. In particular, the Client shall bear any loss or damage in connection with agreed communication channels and/or from noncompliance with its own duties of care and/or any loss or damage resulting from the realisation of communication risks outside the sphere of influence of Aury, including in connection with the use of or transmission to, from, or via any device, system, software or network outside of the sphere of influence of Aury.
For purposes of security and quality assurance, compliance with legal and regulatory requirements and for record-keeping, the Client authorizes Aury to record and store, without prior notice, telephone conversations and communication in writing or by electronic means (including audio and video).
The Client shall acknowledge that unless agreed otherwise, Aury does not provide any legal, tax, accounting, investment, or any other type of advice to the Client. Therefore, before entering into any transaction or trade, or using any service of Aury, the Client shall independently evaluate the risks and appropriateness of such transaction or trade, if necessary, with the assistance of a professional advisor. The Client shall be solely responsible for any decision to enter into a transaction with Aury.
Accordingly, and for the avoidance of doubt, the fact that Aury agrees to execute a transaction does not indicate that Aury recommends that transaction or considers it appropriate or suitable for the Client, nor that it considers the Client’s situation. Aury does not examine the appropriateness and/or suitability of the transaction that the Client initiates.
The Client hereby confirms that unless agreed otherwise, Aury does not provide investment, legal or tax advice to the Client nor assess whether any of its services is appropriate or suitable for the Client.
In particular, the Client’s investment decisions shall be based solely on their own evaluation of their financial circumstances and investment objectives. The Client shall bear sole responsibility for all transactions requested from or orders issued to Aury in respect of the Client’s accounts. The Client is aware that, while they may be able to access information via the Aury’s website, the availability of such information does not constitute a recommendation to buy or sell or to enter into any type of business or transaction. The data published or transmitted shall not represent an offer unless Aury expressly indicates the contrary. The Client undertakes not to hold Aury or any of its officers, directors, employees, agents, subsidiaries, or affiliates liable for any trading losses or other losses incurred by the Client.
Aury shall decide, at its own discretion and irrespective of the time, date or receipt of the instruction or order, which instructions or orders (including, without limitation, withdrawal orders) are to be executed in whole or in part, and may refuse to accept or execute them without giving reasons or may execute them subject to any additional conditions or requirements as Aury deems appropriate or necessary. Similarly, Aury may return or reject, in whole or in part, any assets or amounts received, particularly in the event of a presumption of violations of, or during other active enforcement of, legal or regulatory requirements, contractual provisions, business or trading practices or internal policies.
Aury shall not be obliged to execute instructions or orders that are not correctly delivered, are not signed, are issued outside its operating hours (as applicable), lack sufficient legitimation of the principal or for which the regulatory requirements are not met. In particular, the Client acknowledges that any loss or damage resulting from incorrect, unclear, delayed or otherwise incorrectly submitted orders shall be borne exclusively by the Client. In addition, Aury expressly reserves the right to request from the Client as well as from heirs, proxies, legal and appointed Representatives of the Client such legitimation documents (e.g., certificate of inheritance) as Aury may deem necessary. In case the Client places an order by telephone, Aury shall be entitled, but in no case obliged, to obtain written confirmation from the Client or the authorized principal prior to execution.
If Aury requests the Client within the framework of statutory or regulatory requirements to provide information, inter alia, on the circumstances or background of an order, the Client shall provide such information without undue delay, otherwise Aury shall not be obliged to execute the order. Furthermore, Aury shall not be obliged to execute orders which are not in accordance with the regulations or practices of stock exchanges or for which there is no or insufficient cover or credit limit, as may be applicable.
The Client may revoke orders in writing up to the time specified by the applicable rules of the payment system or securities clearing and settlement system. Once Aury has debited the account/deposit, orders are irrevocable in any case. The death, declaration of disappearance, incapacity to act or bankruptcy of the Client shall not result in the revocation of the order.
Additionally, concerning Digital Assets (as defined below) in particular, Aury may decline to provide the Client with a digital ledger address for the deposit of Digital Assets, for example (without limitation) because (i) the Client intends to transfer the Digital Assets from a non-Aury issued digital ledger address, (ii) Aury does not accept the specific Digital Asset according to any of Aury’s policies, or (iii) Aury identifies any indications of illegal, illicit, or dubious behaviour under consideration of any laws, regulations, business or trade practices or internal policies of Aury in its sole discretion.
“Digital Assets” means any digital assets such as cryptocurrencies, tokens and other types of cryptographic assets registered and transferable on a blockchain or another digital, distributed and cryptography-based ledger or any other similar technology, including, without limitation, those qualifying as or representing tokens, such as payment tokens (also referred to as cryptocurrencies), non-fungible tokens (NFT) and other types of cryptographic assets. Other types of Digital Assets may (i) constitute or represent any form of financial instruments, including shares, bonds, fund units, structured products, or derivatives (also referred to as asset tokens), (ii) grant a right of use to a digital service, platform, or infrastructure (also referred to as utility tokens), or
(iii) constitute a hybrid form of any of the aforementioned types of Digital Assets.
“Traditional Assets” means public equities, bonds, notes, derivatives, intermediated securities and structured products as well as certain other assets which may be considered as such at the sole discretion of Aury (which are not Digital Assets).
Aury may require the use of specific Digital Assets (such as Aury’s digital CHF) or Traditional Assets for the execution of certain types of orders or transactions, especially for the purchase of certain other types of Digital Assets.
The Client is advised to inform Aury in due time in advance of any deposit or transaction involving a corresponding non-Aury digital ledger address. The Client shall bear all costs arising from unsuccessful transfer attempts.
In case the Client issues one or several instructions or orders that, individually or combined, exceed the credit balance available or the granted limits on the Client’s account(s), Aury shall decide at its sole discretion, irrespective of the time, date or receipt of any instructions or orders, which instructions or orders are to be executed and in what order and whether in whole or in part.
In case of any loss or damage in the event of defective execution, late execution, or non- execution of instructions and/or orders due to Aury’s non-compliance with its duties of care, Aury’s liability shall be limited to no more than an amount equal to the loss of interest. For the avoidance of doubt, Aury shall have no liability whatsoever if it complied with its duties of care, or if it acted in accordance with any of its obligations, such as (without limitation) any obligations related to combatting money laundering.
In the event of urgent instructions or orders which could lead to further loss than the loss of interest if not executed in a timely or proper manner, the Client shall be obliged to notify Aury in writing about this situation in due time in advance. If the Client fails to do so, such further loss shall be borne by the Client.
The Client shall receive statements at least once per year or at different regular intervals as agreed between the Client and Aury.
The Client shall file any complaints relating to any instructions, transactions, or orders (whether executed or not), Aury statements or other communications without undue delay but no later than 30 days from the date of the concerned instruction, transaction or order, or the receipt of the relevant statement or communication.
Documents and statements are deemed to be approved by the Client if the Client does not object within 30 days as of the date of dispatch of the document or statement.
In case the Client expects to receive a document or communication and such document or communication is not delivered in the expected timeframe or at all, the Client shall promptly notify Aury in writing.
Any loss or damage resulting from the failure of the Client to object or to give notice to Aury in due time shall be borne by the Client.
Aury shall be entitled to charge an expense fee for the processing of repeated, abusive, complex and/or dishonest complaints or similar requests.
Aury has, and the Client hereby grants to Aury, a right of lien, for all of Aury’s current or future claims against the Client accrued and existing from time to time under or in connection with the relationship, on and with respect to all assets (including, without limitation, Digital Assets and Traditional Assets), claims and other rights Aury holds for the account of the Client at any time, whether held in Aury’s own custody or with third parties, and on any credit balances or other claims of the Client against Aury. Such right of lien shall exist irrespective of the type, denomination (including in any foreign currencies or Digital Assets or Traditional Assets) or maturity of Aury’s claims against the Client.
In an event of default of the Client, Aury shall be entitled to realise all the assets (including, without limitation, Digital Assets and Traditional Assets), claims or other rights over which it has a lien either by forced or by private sale and including by way of acquisition by Aury for its own account. Aury may also, in its discretion, initiate proceedings for ordinary debt enforcement by way of seizure or bankruptcy proceedings, upholding the lien.
Aury has the right to set-off any claims of the Client against Aury against any claims being accrued to Aury from or in connection with its relationship with the Client, irrespective of the identity, type, or denomination (including in any foreign currencies, Digital Assets or Traditional Assets) and irrespective of the maturity of such claims. Aury shall especially be entitled to set-off even if a claim to be set-off is not a claim for a particular amount (denominated in any currency, Digital Asset or Traditional Asset), but for the return of an object, asset (including any Digital Asset or Traditional Asset) held in deposit by Aury or a third-party custodian, or if such claim to be set-off is subject to objections.
If amounts subject to set-off are denominated other than in Swiss Francs or the Client’s reference currency, Aury may convert such amounts in its sole discretion using a conversion rate selected and deemed reasonable by Aury with respect to the relevant date and time.
For the avoidance of doubt, Aury’s rights of lien and set-off shall also apply to (without limitation) any claims of Aury to be indemnified or held harmless, as well as to any loans and credit facilities granted to the Client, irrespective of whether otherwise secured or collateralised.
Aury shall be entitled to credit or debit to or from any account of the Client any interest, as well as any charges (incl. negative interest), commissions, expenses, fees, and taxes agreed upon with the Client or which are customary in Swiss practice or are applicable by law, rules, and regulations. If applicable, withholding tax may be deducted or added (as the case may be) to any amounts credited or debited in accordance with the previous sentence.
All current interest rates and other pricing information are communicated to the Client by suitable means. Aury reserves the right to change its applicable interest rates, price lists, charges (incl. negative interest rates) and commissions at any time and for any reason, due to e.g., changes in market conditions or applicable costs. Unless agreed to the contrary, the Client shall be notified of such changes by suitable means and the changes shall be deemed to have been accepted by the Client, unless the Client objects to the changes in writing within 30 calendar days of the notice.
Aury may set up an account as a joint account for the Client and one or several other Clients (hereinafter the “Joint Account”).
Each Client being a holder of a Joint Account (hereinafter each a “Joint Account Holder(s)“) shall have the right, individually, to use such Joint Account, to grant or revoke powers of attorney, to place orders and issue instructions to Aury and generally to dispose of any and all claims, assets (including Digital Assets and Traditional Assets) and other rights on such Joint Account individually with sole signature unless otherwise agreed between Aury and all Joint Account Holders of such Joint Account. In addition, Aury has the right, but not the obligation, in its sole discretion, to require joint instruction from all or several Joint Account Holders.
A power of attorney granted by one Joint Account Holder to any third party or person is binding upon the other Joint Account Holder(s) for such Joint Account and the Representatives of one Joint Account Holder are deemed Representatives for the other Joint Account Holder(s).
Any communication or notice to one of the Joint Account Holders is deemed to have been duly made to all the Joint Account Holders. The Joint Account Holders shall be jointly and severally liable to Aury for all obligations arising from or in connection with the Joint Account or their relationship with Aury. Furthermore, Aury may fulfil any of its obligations arising from or in connection with the Joint Account by performing such an obligation towards a single Joint Account Holder. Unless otherwise instructed, Aury may credit, or deposit amounts or assets received for one of the Joint Account Holders to the Joint Account.
In the event of bankruptcy, legal incapacity, death or declaration of presumed death of a Joint Account Holder, and unless Aury is instructed otherwise, the remaining Joint Account Holder(s) shall continue to be authorised individually with sole signature in accordance with this article, respectively shall continue to be authorised in accordance with the relevant power of attorney. However, upon being notified or otherwise becoming aware of any of the events mentioned above, Aury may, in its sole discretion, suspend or refuse the execution of any instruction or order received from the remaining Joint Account Holder(s) or from their Representative(s). In such an event, Aury may request to be provided with any documents or confirmations as it considers necessary or appropriate to clarify or define its obligations towards any Joint Account Holder(s).
Access and usage of Aury’s online services (hereinafter “Online Services”) shall be granted to Clients and their Representatives, each of whom shall be authenticated by entering (i) their user identification, (ii) their freely chosen personal password and (iii) a second authentication factor.
When logging in for the first time, the User (as defined below) shall use a password provided by Aury, which must be changed immediately after the first login. Aury strongly recommends to periodically change the password.
Aury may ask for additional authentication or confirmation for certain orders (hereinafter the “Transaction Confirmation”) based on security or compliance reasons.
The means of authentication may be supplemented, changed, or replaced by Aury at any time.
Anyone who is authenticated in accordance with the above-described authentication process – whether the Client, or another person authorised by the Client – shall be deemed to be a legitimate user of the Online Services (hereinafter “User(s)”). Each User has access to all Online Services provided by Aury and Aury may therefore, irrespective of the User’s legal relationship with the Client or its Representative(s), and without further verification of the User’s authorisation, allow the User to make enquiries or dispose of the accounts listed on the application for opening an account via Online Services and to receive instructions, orders and notifications from the User or vice versa. However, Aury shall be entitled at any time and without stating reasons to refuse to provide information and to accept instructions, orders, and notifications and to insist that the User provides other forms of identification.
The Client shall implicitly acknowledge, accept and, to the extent necessary, ratify all acts and transactions reflected in their accounts which have been conducted based on Aury’s Online Services authentication process. All instructions, orders and notifications received by Aury through the Online Services shall therefore be deemed to have been authorised by the Client.
The Client shall ensure that all means of authentication are kept secret by the Client and are protected against misuse by unauthorised third parties. In particular, passwords shall not be stored unprotected and shall not be disclosed to unauthorised third parties. If the Client or other User suspects or knows that an unauthorised third party has gained or obtained access to or in any other way compromised any means of authentication (especially the password), the Client, or such other User shall immediately change or replace the respective means of authentication and notify Aury without delay.
In addition, irregularities of any kind in connection with the Online Services of which the Client or a User becomes aware shall be reported to Aury without undue delay.
Despite Aury operating an Online Service system which complies with the standard of due care customary in Swiss practices and taking customary measures to identify, prevent or mitigate fraudulent activities, absolute security cannot be guaranteed on either Aury’s, the Client’s, or any User’s side. In particular, the User’s device used to access Online Services is outside Aury’s control and sphere of influence and can become a weak point in terms of security. Aury cannot assume any responsibility for the User’s devices, or for technical infrastructures or systems outside Aury’s sphere of influence, as this is technically impossible.
The Client shall acknowledge and accept various risks that may result in loss or damages, including, without limitation, the following:
i) A third-party gains unauthorised access to the Online Services or the User’s device while using the Online Services.
ii) Viruses, trojans or other malware can spread on a device via various routes.
iii) The network operator (e.g., the internet provider) of a device always can trace the User’s contacts and may not have adequate safeguards to protect its system.
iv) Inadequate knowledge of software and systems and lack of security measures on a device may enable or facilitate unauthorised access to Online Services or a device.
v) Online Services may be subject to malfunctions, unlawful access of third parties or inadequate performance by telecommunication or network providers outside Aury’s control, which may result in interruption of the Online Services.
The Client shall be responsible for the security precautions on the device used by them and/or any User for the Online Services. The Client shall maintain and implement, and procure that all Users maintain and implement, all necessary precautions with respect to the Online Services. This includes the regular update of security and device protection software.
In addition, the Client shall acknowledge that by using the Online Services, data, including Client Data, may be transported via open or shared networks and infrastructures publicly accessible to everyone (e.g., internet, SMS). Such data can be transmitted within Switzerland or across borders without the possibility of Aury controlling or restricting such data transfers. The individual data packages are transmitted in encrypted form, but the identities of the sender and recipient remain unencrypted. It is therefore possible for a third party to draw conclusions about e.g. an existing relationship with Aury and/or a payment relationship between the Client and the beneficiary of such payment.
Aury does not guarantee the accuracy and completeness of the Online Services data it makes available to any User. In particular, information on accounts and deposits (e.g., balances, statements, transactions) as well as generally accessible information such as price information and rates shall be deemed non-binding. Online Services data do not constitute binding offers or recommendations, unless expressly stated.
Aury reserves the right to interrupt the Online Services at any time, whether for maintenance reasons, to mitigate security risks and/or to protect the Client, Users and/or Aury, for as long as Aury deems necessary in its sole discretion. Aury accepts no liability for any damage or losses arising from such interruption.
Aury shall be entitled to block the Client’s and/or a User’s access to all or several Online Services services at any time and without stating any reasons if, in Aury’s sole discretion, this appears appropriate.
The Client and each User shall acknowledge that the use of Online Services from abroad may, under certain circumstances, violate provisions of foreign law. The Client shall be responsible for ongoing compliance with applicable statutory law and any other applicable law and regulations with respect to their and/or any User’s use of the Online Services, particularly to prevent violations of foreign law. In addition, the Client and each User shall acknowledge that there may be import and export restrictions on encryption algorithms or other types of software, which may be breached by the Client or any User when using Online Services from abroad.
Aury may offer Digital Assets wallets, Traditional Assets custody accounts, and foreign currency accounts.
The Client shall bear all the economic and legal consequences resulting from (i) measures taken by any authority, regulatory or self-regulatory body of any relevant country, or (ii) the exercise of consensus or similar mechanisms in respect of Digital Assets or Traditional Assets, including (without limitation) any prohibitions or restrictions of payments or transfers, limitations to, suspension or exclusion of convertibility or changes to functionality, the consequences of which may affect the Client’s assets in the Digital Assets wallet, the Traditional Assets custody accounts, or the foreign currency account and/or the corresponding assets held by Aury for the account of the Client.
Aury may, in its own discretion, restrict the types and/or the amount of Digital Assets, Traditional Assets, or foreign currency traded to or from an Aury wallet, custody account or account and/or held in Aury’s custody otherwise.
The obligations of Aury in connection with any Digital Assets wallet, Traditional Assets custody account, or foreign currency account shall be performed exclusively at the place of business of the branches or offices at which the wallets, custody accounts, and accounts in question are held.
In case of transfers or payments involving foreign currencies with a different denomination than any of the accounts of the Client, Aury shall be entitled but not obligated to convert the transfer, or credit or debit the payments to the Client’s reference currency account provided that the Client did not instruct Aury otherwise in writing within a reasonable amount of time in advance.
In case the Client holds a denominated account corresponding to the concerned foreign currency transfer or payment with an insufficient credit balance, Aury is entitled to debit and convert balances on the Client’s reference currency account (which shall be Swiss Francs without any other agreement) and/or any other foreign currency account.
To comply with law, rules and (internal) regulations or contractual provisions, in order to exercise due care customary in the business, to remain in line with proper business or trade practices, or if deemed necessary by Aury, due to any specific circumstances, Aury may, in its sole discretion, restrict the provision of services to the Client in whole or in part. In particular, Aury may block any account, restrict or refuse the execution of any orders of any kind (including, without limitation, orders to deposit or withdraw fiat currencies or Digital Assets or Traditional Assets, to transfer credit balances, securities and/or other assets) and generally limit or refuse to accept any type of assets or funds.
In case of termination of the relationship between Aury and the Client, or if, for legal, regulatory, product-specific or any other reasons, deposited Digital Assets, Traditional Assets and credit balances can no longer be held in Aury’s custody, the Client shall notify Aury upon request in due time where these Digital Assets, Traditional Assets and credit balances are to be transferred to.
If the Client fails to comply with the notification duty in accordance with the preceding paragraph, Aury may liquidate the Digital Assets, Traditional Assets and credit balances of the Client and transfer the proceeds and any remaining credit balances to the Client’s last known account outside of Aury with discharging effect for Aury, or deposit the proceeds at the Client’s expense and risk with a custodian of Aury’s choice with discharging effect for Aury.
The Client accepts and understands that the services of Aury are not directed to persons residing outside of Switzerland in order to solicit them into a relationship or to obtain services. Unless the contrary is legally permitted in the jurisdiction in which the Client is domiciled, the Client confirms that they took the steps to request such relationship or services on their own initiative and that Aury did not approach them in this regard; if this is not the case, the Client undertakes not to finalize the account opening or onboarding process, or the corresponding conclusion of any specific contract.
The Client shall request information on other services provided by Aury to which they have not yet subscribed. Aury shall decide at its sole discretion whether to communicate such information to the Client or not.
The Client shall be aware that Aury may not be able to provide them with all or part of its services and/or products due to the Client’s place of residence and/or status.
In addition, to comply with legal, regulatory, or contractual provisions, to ensure the exercise of the standard of due care customary in the business or to ensure proper management conduct, Aury shall be permitted to restrict services partially or fully to the Client outside of Switzerland. This applies regardless of any supplementary regulations governing individual services and may include, in particular, freezing accounts and Digital Assets wallets or limiting the execution of instructions of any kind (e.g., deposit and withdrawal orders, orders to remit or transfer funds, securities and other assets and orders to close an account).
Aury may outsource some of its existing or future operations and/or services, in whole or in part, to Aury affiliates, group companies or third parties within Switzerland or outside of Switzerland (hereinafter the “Service Provider(s)”). In particular, this may concern back and middle office functions such as IT and research, funds services, portfolio management services, investment advisory services (incl. sub-advisory services), index administration and calculation agent services, compliance and risk control, internal audit, Client onboarding and servicing functions, anti-money laundering due diligence and monitoring functions, forensic services, in particular with respect to Digital Assets, payments, administration and trading, processing and safekeeping of securities and other financial instruments.
Outsourcing may require or entail the transfer of data including Client identifying data and data relating to the Client and its relationship with Aury (hereinafter the “Client Data”) to the Service Provider, who may use third parties to provide its services to Aury. Aury requires all Service Providers to observe applicable confidentiality and data protection obligations in line with these GTC.
The Client agrees that Aury discloses or transfers Client Data to Service Providers in relation with outsourcing.
Aury and its directors, employees and agents may be subject to obligations of confidentiality in relation with Client Data. In connection with the transactions, products and services, Aury and its directors, employees and agents may disclose Client Data to third parties.
Aury as well as its affiliates, group companies and branches collect and process Client Data and other personal data related to Clients, potential clients and related parties, including data from these parties as well as from third parties and public sources, for example in order to enter into and manage business relationships, communicate with Clients and others, ensure appropriate security, comply with laws and regulations, and carry out marketing, market research and product development. Aury may disclose personal data to affiliates, group companies and branches, service providers and authorities, including in accordance with art. 24 and 25 above. Additional information about Aury’s processing of personal data as well as the Client’s rights in relation with personal data (such as the right to have access to personal data, or correct inaccurate personal data or object to the processing) is set out in Aury’s Privacy Policy. The Client acknowledges receipt of the privacy notice and agrees to inform other individuals whose data is shared with Aury (e.g., family members, beneficial owners etc.) about Aury’s data processing.
The Client acknowledges that Aurys, financial institutions, payment systems and/or other financial intermediaries exchange information and messages in international and, in some cases, national payment and securities transactions in order to ensure the necessary connection between all financial intermediaries and to be able to process transactions correctly.
For the execution of payment orders, securities transactions, and certain other transactions (such as guarantees, foreign exchange transactions), Aury shall be generally allowed to provide personal data of the Client, the ordering party and/or the recipient, which may include name, address, date of birth and account or custody account designation, along with the transaction. Without such information, transactions may be rejected. This data will become known to the involved domestic and foreign financial intermediaries (including correspondent Aurys) and system operators (e.g., SWIFT, SIC) as well as, as a rule, to the payment recipient in Switzerland and abroad and may also be stored by them abroad. The Client agrees to this procedure and is aware that, in particular, the Client or ordering party data may thus reach foreign countries and be stored there. The financial intermediaries involved also apply high data security standards to this exchange of information; however, in this case this data is no longer protected by Swiss law but is subject to the provisions of the respective foreign legal system and it is no longer ensured that the level of protection with regard to this data corresponds to that in Switzerland. In particular, the Client also acknowledges that all parties involved in the transaction may, for their part, transmit the data to commissioned third parties in other countries for further processing or data backup. Foreign laws or official directives may oblige the Aurys or system operators involved to disclose this data to authorities or third parties.
The Client further acknowledges that, in the case of transactions in foreign securities, the financial intermediaries may be obliged to disclose Client data under the laws of various countries or in accordance with the practices and conditions of use of foreign stock exchanges or trading venues analogous to the above provisions.
In addition, the provisions pursuant to the document “Release from Non-Disclosure” shall apply.
Dormant assets generally occur when (i) there are no messages from the Client or the authorized Representative and (ii) Aury is no longer able to contact the Client or any authorized Representatives. In this case, Aury is obliged by regulatory requirements to record the assets of these Clients centrally within the Aury and to mark them specially in order to be able to report them to the responsible body. The Client is therefore concerned to avoid dormancy.
The fees normally charged by Aury shall also apply in the event of dormancy. In addition, Aury may charge the Client for the costs it incurs for investigations in the event of dormancy, such as for the special handling and monitoring of dormant assets and may cancel any special conditions granted.
The Client shall ensure and confirm to always comply with applicable laws, rules, and regulations, including but not limited to tax, anti-money laundering and data protection legislation. The Client shall further procure that the Representatives, beneficial owners, controlling persons, beneficiaries, and other persons involved in the relationship and/or acting on the Client’s behalf adhere to applicable laws, rules, and regulations.
The Client shall bear any loss or damage, including but not limited to any costs and expenses (e.g., fees of advisors and lawyers), incurred by Aury in connection with any non-compliance with the applicable law and regulations. Further, the Client shall indemnify and hold harmless Aury from and against all actions, claims, liabilities, obligations, damages, or expenses arising in connection with the relationship as a result of any non- compliance by the Client or their beneficial owner(s) or Representatives or any other third party acting on their behalf or in connection with the relationship, with their obligations set forth in these GTC or pursuant to applicable laws or regulations.
Aury may, in connection with its relationship with the Client, receive distribution fees, incentives or other monetary and/or non- monetary benefits such as commissions, trailer or intermediary fees, discounts or similar agreements with third parties (including any of Aury’s affiliates), e.g., in connection with the distribution of any financial products or instruments. In addition, Aury may grant monetary or non-monetary benefits to third parties (including to any affiliates of Aury), in particular for the introduction of the Client (the monetary and non-monetary benefits set out in this paragraph hereinafter collectively referred to as the “Benefits”).
The effective amount of Benefits obtained by Aury and/or third parties for the introduction of the Client as well as the corresponding calculation parameters may vary depending on the circumstances. Any inquiries regarding the Benefits (e.g. the relevant range in percentages and the calculation parameters) related to the introduction of the Client shall be directed to the third party introducing the Client. Aury shall inform the Client by appropriate means about the Benefits upon the Client’s request.
To the extent that Benefits are subject to any restitution obligation (statutory or otherwise) towards the Client, the Client expressly waives his claim for restitution and agrees that Aury and/or the third party introducing the Client may retain the Benefits, in full or in part, as remuneration, irrespective of the party to or from whom such Benefits are granted.
Aury has put in place appropriate organisational and other measures to avoid conflicts of interest resulting in negative effects on the Client, in line with the industry standards.
Depending on the entity and/or service/product involved, the offering of services and/or products may involve one or more entities acting as counterparties and/or as interested parties in the relevant transaction and/or in different roles vis-à- vis Aury Clients. The Client shall be aware that conflict of interests may exist in respect of the provision of services despite the adoption of sound corporate governance and internal control arrangements.
The Client shall acknowledge and accept that in particular the obtaining and granting of Benefits may lead to such conflicts of interest, including by potentially creating incentives for Aury to reallocate investments with increased frequency, to select or recommend products or providers that carry or grant Benefits (e.g. collective investment schemes or structured products as opposed to equities or bonds or Digital Assets using a particular technology or protocol as opposed to others) or that result in an overall higher remuneration for Aury.
The Client shall agree to the use of Client Data by Aury for the following purposes:
i) marketing and relationship management purposes, for example to send personalised marketing including newsletters for Aury’s and Aury’s partners’ offerings or events;
ii) market research and improvement of existing and development of new products and services.
For these purposes, Aury may evaluate personal aspects of the Client or the Client’s contact persons, including the financial situation and personal interests, and create and use profiles. Aury may further disclose Client Data and derived data and profiles to affiliates, group companies and branches within and outside Switzerland.
The Client may at any time withdraw consent for the data processing under this article and for example opt out from newsletters.
Saturdays, Sundays and public holidays of the Swiss Confederation, the Canton and the City of Zug are holidays. Depending on the jurisdictions involved in individual business transactions, further holidays may apply. Additional operating business hour restrictions may apply and remain explicitly reserved, in particular concerning fiat currency transactions and Traditional Assets transactions involving third parties.
Aury’s liability shall be limited to direct loss or damage caused by Aury’s gross negligence or wilful breach of Aury’s contractual obligations or performance of its services. This limitation shall also apply to any direct loss or damage incurred as a result of, without limitation, (i) the access of Aury’s website or Online Services including the usage of information provided and services offered thereon, (ii) the inability to access or use any information or services on Aury’s website or Online Services, (iii) the unavailability of prices or other information concerning Digital Assets or Traditional Assets, (iv) malfunctions or errors on systems, of hard- or software of services provided by third parties, (v) non-, partial, or late execution of transactions, (vi) losses caused by illegitimate events such as hacking, theft, fraud, cyber-attacks or (vii) force majeure events. Any liability of Aury for direct, indirect, or consequential losses, including loss of profit, as well as any loss or damage due to events or actions outside of Aury’s sphere of influence, shall be excluded.
Regarding any Service Providers, Aury limits its liability to the due selection and instruction of such Service Providers, to the extent legally possible.
In case of any unusual events which may lead to potential loss or damage, such as unexplainable delays on the side of Aury or inability to access the Aury website or the Online Services (e.g., due to technical problems), the Client shall contact Aury without delay, for example by calling the Aury client services desk.
The Client shall agree and undertake to indemnify, defend and hold harmless Aury and its respective past, present and future employees, officers, directors, contractors, consultants, equity holders, suppliers, vendors, Service Providers, subsidiaries, affiliates, agents, representatives, predecessors, successors and assigns from and against any and all claims, demands, actions, losses, damages, liabilities, costs and expenses and attorney’s fees which may be incurred as a result of or in connection with (i) the execution by Aury of any order received from the Client, (ii) any breach by the Client of any contractual obligation, covenant or representation or the Client’s negligence, fraud or wilful misconduct, (iii) the use by the Client of any of Aury’s services, (iv) the Client’s responsibilities or obligations under their contractual relationship with Aury (including these GTC) and/or (v) any infringement or violation by the Client of any laws or regulations, or of any rights of any other person or entity.
The relationship between the Client and Aury shall be entered into for an indefinite period of time and shall remain in force even after the death, declaration of disappearance, any form of incapacity to act or bankruptcy of the Client. The Client and/or Aury may terminate the relationship in writing without any notice period at any time whereas special agreements or terms and conditions shall prevail. Applicable terms shall continue to apply for ongoing transactions.
Existing business relationships, such as in particular committed or utilized credits, may be cancelled by Aury at any time with immediate effect. In this case, all claims become due immediately and shall be repaid by the Client.
If Aury’s claims have not been repaid in full, the termination of the business relationship shall not result in the cancellation of the contractually agreed interest and costs or standard Aury interest on arrears. The same shall apply to special or general guarantees given to the Aury.
In the event of termination or if deposited assets and credit balances can no longer be held in custody by Aury for legal, regulatory, product-specific, or other reasons, the Client shall notify Aury upon request where such assets and credit balances are to be transferred. If the Client fails to provide such notification even after a grace period set by Aury, Aury may, at its own discretion, physically deliver the assets and credit balances or liquidate them and send the proceeds and any remaining credit balances with discharging effect in the form of a check in the currency determined by Aury to the Client’s last known delivery address. Aury may further deposit the assets and credit balances or the proceeds from the liquidation with a custodian and/or escrow agent of its choice, at the Client’s expense, with discharging effect, either in court or out of court. Furthermore, Aury expressly reserves the right in any case to refuse the delivery of assets, the physical delivery of deposited assets or the physical payment of credit balances if it would thereby violate legal or regulatory requirements and/or expose itself, its governing bodies, employees, or auxiliary persons to the risk of official proceedings.
If at any time any provision of these GTC is or becomes illegal, invalid, or unenforceable in any respect under applicable law, rules and regulations neither the legality, validity or enforceability of the remaining provisions of these GTC shall in any way be affected or impaired thereby.
The Client may not assign a part of or their whole relationship with Aury to any third party without the prior written consent of Aury.
Aury may amend these GTC at any time and the Client will be notified about the modifications and/or amendments within a reasonable period of time in advance and by suitable means.
In the absence of any objection by the Client in writing within 30 days of the date of the notification, such modifications and/or amendments shall be deemed to be accepted by the Client and shall be effective and binding upon the Client and Aury.
All legal relations between the Client and Aury shall be governed by and construed in accordance with the substantive laws of Switzerland, to the exclusion of its conflict of law rules. The exclusive place of jurisdiction for all legal proceedings, as well as the place of performance in debt enforcement for Clients domiciled outside Switzerland, shall be Zug, Switzerland. Aury reserves the right to take legal action at the domicile of the Client in which event the substantive laws of Switzerland, to the exclusion of its conflict of law rules, shall apply exclusively. Mandatory places of jurisdiction remain reserved.
Last updated: 28.06.2025
Contact
Aury Crypto AG
Suurstoffi 37, 6343 Rotkreuz, Switzerland
Phone: +41 41 123 45 67
Email: info@aury-brokerage.com
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