Terms of Service

1. Acceptance of Terms

These Terms of Service ("Terms") govern your access to and use of the Clova Exchange platform, including our website (clova.cc), Progressive Web App ("PWA"), API, and all associated services (collectively, the "Service") operated by Clova Financial Inc. ("Clova"). By using the Service, you represent that you are at least 18 years old and have the legal capacity to enter into these Terms.

2. Eligibility

• You must be at least 18 years of age
• You must not be prohibited from using crypto services under your local laws
• You must complete KYC verification before trading
• Clova reserves the right to refuse service to any jurisdiction where crypto trading is prohibited

3. Account Registration & Security

You must provide accurate, complete information during registration. You are responsible for:

• Maintaining the confidentiality of your login credentials
• Enabling two-factor authentication (2FA) — strongly recommended
• All activity under your account, whether authorized or not
• Immediately notifying us of any unauthorized access

4. Crypto Trading

• Crypto trades are executed at market rates sourced from CoinGecko and liquidity providers. Prices may fluctuate between order submission and execution.
• Trading fee: 0.1% maker/taker. Deposit fees: 0%. Withdrawal fees vary by network.
• Clova does not provide investment advice. You trade at your own risk. Crypto markets are highly volatile.
• Minimum trade amounts apply and may vary by asset.

5. Gift Card Exchange

• Gift cards must be legitimate, unused, and legally obtained. Stolen, fraudulently obtained, or activated cards will be rejected and may result in account suspension.
• Exchange rates vary by brand and card value. Rates displayed are indicative and may change at the time of processing.
• Gift card verification may take up to 15 minutes. Payouts are processed after successful verification.
• Clova reserves the right to decline any gift card without explanation.

6. Prohibited Activities

7. Fees

Clova reserves the right to update fees with 7 days' notice via email and in-app notification.

8. Limitation of Liability

To the maximum extent permitted by law, Clova shall not be liable for any indirect, incidental, special, consequential, or punitive damages, including loss of profits, data, or crypto assets, arising from your use of the Service. Our total liability shall not exceed the fees you paid to Clova in the 12 months preceding the claim. Crypto markets involve substantial risk of loss — you acknowledge this and trade at your own risk.

9. Indemnification

You agree to indemnify, defend, and hold harmless Clova, its officers, directors, employees, and affiliates from any claims, damages, losses, liabilities, and expenses (including legal fees) arising from your breach of these Terms, prohibited activities, or violation of any laws or third-party rights.

10. Account Suspension & Termination

Clova may suspend or terminate your account immediately, without prior notice, for: suspected fraud, AML violations, prohibited activities, breach of Terms, or regulatory requirements. Upon termination, you may withdraw remaining balances after completing exit KYC. Unclaimed funds after 12 months may be escheated per applicable law.

11. Dispute Resolution & Governing Law

These Terms are governed by the laws of the Federal Republic of Nigeria. Disputes shall first be resolved through informal negotiation (30 days), then binding arbitration under the Rules of the Lagos Court of Arbitration. You waive any right to participate in class action lawsuits against Clova.

12. Modifications

Clova may modify these Terms at any time. Material changes will be communicated via email and in-app notification at least 14 days before taking effect. Continued use after the effective date constitutes acceptance of the modified Terms.

13. Contact