Terms & Conditions
of PaYard Services
Revision dated 06.10.2025
These Terms and Conditions (“Terms”) govern your access to and use of the services provided through this Website, including but not limited to the exchange of virtual assets (cryptocurrencies) in accordance with applicable European Union and Czech legislation, provided in website payard.cz, as well as our mobile applications PaYard available on Google Play and Apple App Store (hereinafter collectively referred to as the "Website", "Platform"). By accessing or using our services, clients ("Clients", "you", or "your"), whether individuals or legal entities, agree to be bound by these Terms.
Introduction and Identification of the Website Operator
The Terms govern the provision of PaYard services to the Client.
The Website is operated by:
PaYard s.r.o.
Registered office: Vlkova 532/8, Žižkov, CZ-13000 Praha
Company ID (IČO): 19555792
Registered in: Commercial Register maintained by the Municipal Court in Prague
E-mail: support@payard.cz
Website: https://payard.cz
Crypto-Asset Service Provider (CASP) License _______________________
PaYard s.r.o. (hereinafter referred to as the “Operator”, “we”, “us”, or “our”) is a company incorporated under the laws of the Czech Republic and operates as a Crypto-Asset Service Provider (CASP) in accordance with Regulation (EU) 2023/1114 on Markets in Crypto-Assets (MiCA) and the relevant national implementing legislation.
The Operator provides only non-custodial exchange services, meaning that users retain full control of their digital assets and private keys at all times. The Operator does not provide custodial wallet services, financial intermediation, lending, staking, investment advice, or any other regulated financial or payment services outside the scope of crypto-asset exchange as defined by MiCA.
By accessing or using the Website, you acknowledge that you have read, understood, and agree to be bound by these Terms. If you do not agree with any part of these Terms, you must refrain from using the Platform.
Definitions
For the purposes of these Terms, the following expressions shall have the meanings set out below. Words in the singular include the plural and vice versa, and references to persons include both natural and legal persons.
“Operator” or “PaYard” refers to PaYard s.r.o., a company duly incorporated and existing under the laws of the Czech Republic, operating the Platform and providing crypto-asset exchange services in compliance with Regulation (EU) 2023/1114 on Markets in Crypto-Assets (MiCA) and applicable Czech legislation.
“Platform” or “Website” means the online interface accessible at https://payard.cz, through which Users may access the services provided by the Operator, including the exchange of crypto-assets and other related functionalities.
“User” or “Client” refers to any natural or legal person who accesses, uses the Platform to utilize the Operator’s services, subject to these Terms.
“Services” means the crypto-asset exchange services provided by the Operator through the Platform, allowing Users to exchange one crypto-asset for another and/or, where applicable, to exchange crypto-assets for fiat currency or vice versa, in accordance with MiCA and Czech law.
“Crypto-Asset” has the meaning defined in Article 3(1)(5) of MiCA, namely a digital representation of value or rights that can be transferred and stored electronically using distributed ledger technology or similar means.
“Exchange Transaction” means a transaction performed on the Platform where one type of crypto-asset (or fiat currency, where applicable) is exchanged for another, at the rates and conditions displayed by the Platform at the time of execution.
“Non-Custodial Service” means that the Operator does not hold, manage, or have access to Users’ private keys, crypto-assets, or funds. All transactions are executed directly by Users, who retain full control of their assets at all times.
“Fiat Currency” means a currency that is legal tender in a country, such as Czech koruna (CZK), euro (EUR), or United States dollar (USD).
“AML/CFT Legislation” refers to all applicable anti-money laundering and counter-terrorism financing laws and regulations, including Act No. 253/2008 Coll. (Czech AML Act), Regulation (EU) 2015/847, and other relevant EU directives and national rules.
“Personal Data” has the meaning given in Article 4(1) of the General Data Protection Regulation (EU) 2016/679 (GDPR), and refers to any information relating to an identified or identifiable natural person processed by the Operator in connection with the provision of Services.
“MiCA Regulation” or “MiCA” means Regulation (EU) 2023/1114 of the European Parliament and of the Council on Markets in Crypto-Assets, establishing a harmonized framework for the issuance, offering, and provision of services related to crypto-assets within the European Union.
“Force Majeure” means any event or circumstance beyond the reasonable control of the Operator, including but not limited to acts of God, war, terrorism, natural disasters, government actions, cyberattacks, or other events that prevent or hinder the provision of Services.
“Applicable Law” means all laws, regulations, and regulatory requirements applicable to the Operator and the Services, including MiCA, Czech national legislation, EU AML/CFT regulations, consumer protection law, and data protection regulations.
Description of Services
The Operator provides crypto-asset exchange services within the meaning of Article 3(1)(16)(a) of Regulation (EU) 2023/1114 on Markets in Crypto-Assets (MiCA). Through the Platform, Users may perform exchange operations between crypto-assets, as well as between crypto-assets and fiat currencies, subject to the conditions set out in these Terms and in full compliance with MiCA, Czech AML/CFT legislation, and other Applicable Laws.
The Services are provided exclusively on a non-custodial basis, meaning that the Operator does not hold, manage, or control Users’ crypto-assets or private cryptographic keys. Users retain sole and continuous control over their crypto-assets at all times.
The Platform enables Users to enter into exchange transactions involving:
(a) the exchange of one crypto-asset for another; and/or
(b) the exchange of crypto-assets for fiat currencies and vice versa, where such functionality is made available by the Operator.
Exchange transactions are executed at rates determined by the Platform’s real-time quotation mechanisms, derived from market data and liquidity providers. The Operator acts as a Crypto-Asset Service Provider (CASP) and not as a counterparty, broker, or market maker unless explicitly stated otherwise.
All transactions are deemed final and irrevocable once validated on the relevant distributed ledger (blockchain). The Operator shall not be liable for errors, network delays, or failures inherent to the distributed ledger technology used to settle transactions.
The Platform may support specific fiat currencies, including but not limited to Czech koruna (CZK), euro (EUR), and United States dollar (USD).
All fiat currency operations are conducted exclusively through regulated payment institutions or credit institutions authorized within the European Economic Area (EEA).
The Operator reserves the right to modify or restrict the range of supported fiat currencies in order to maintain compliance with Applicable Law, AML/CFT requirements, or the operational policies of its financial partners.
Users may deposit and withdraw crypto-assets to and from the Platform solely via wallets under their control.
In the case of fiat transactions, deposits and withdrawals may be processed via bank transfers or payment systems supported by the Operator’s payment partners.
All such transactions are subject to verification under applicable anti-money-laundering (AML) and counter-terrorist-financing (CFT) rules, including validation of the origin and ownership of the funds or wallets used.
The Operator may refuse, delay, or suspend the execution of any deposit or withdrawal if it considers that the transaction may contravene Applicable Law, internal risk policies, or regulatory obligations imposed by the competent authority.
The Platform interacts exclusively with non-custodial wallets owned and controlled by Users.
The Operator does not at any time access, store, or manage Users’ private keys, recovery phrases, or wallet credentials.
Transactions between the User’s wallet and the Platform are executed through secure blockchain protocols or trusted transaction gateways.
Users are solely responsible for maintaining the confidentiality and security of their private keys and wallet credentials.
The Operator disclaims all liability for any loss of crypto-assets arising from the compromise, misuse, or mismanagement of a User’s non-custodial wallet or private key information.
The Services provided by the Operator are strictly limited to the exchange of crypto-assets as defined in Article 3(1)(16)(a) of MiCA.
The Operator does not provide:
custody or safekeeping of crypto-assets;
portfolio management or investment advice;
execution of orders on behalf of third parties;
operation of a trading platform for crypto-assets;
issuance, offering, or promotion of crypto-assets;
lending, staking, or yield-generating services.
The Platform shall not be used for any unlawful purpose, including money-laundering, terrorist financing, or concealment of proceeds derived from criminal activity.
The Operator reserves the right to suspend or terminate any Service where it has reasonable grounds to suspect a breach of law or of these Terms.
Rights and Obligations of Users
The Services of the Platform are intended solely for natural persons who:
are at least eighteen (18) years of age or have reached the age of legal majority under the laws of their country of residence;
have full legal capacity to enter into binding agreements; and
are not citizens or residents of, nor located in, any jurisdiction where the use of crypto-asset exchange services is prohibited or restricted by Applicable Law.
The Operator reserves the right to deny or restrict access to the Platform for Users located in jurisdictions that are subject to international sanctions, high-risk AML/CFT jurisdictions, or any country listed by the Financial Action Task Force (FATF) as non-compliant.
4.2. Account Registration and Verification
Users must complete the registration process on the Platform and provide accurate and up-to-date information as required.
The Operator may, at its sole discretion or as required by law, request that a User undergo identity verification (KYC) and provide supporting documentation.
Verification is conducted in accordance with the Czech AML Act (No. 253/2008 Coll.), Regulation (EU) 2015/847, and internal AML/CFT procedures of the Operator.
The level of verification required depends on the cumulative transaction value and risk profile of the User, as specified below.
4.3. Verification Thresholds
To ensure compliance with AML/CFT requirements, the following verification levels apply:
a) Transactions below EUR 200 cumulative within 10 consecutive days.
If the total cumulative value of all orders placed by a User over any period of ten (10) consecutive days does not exceed EUR 200, the User may execute such transactions without completing prior identity verification. However, the Operator reserves the right to perform verification at any time if suspicious activity is detected.
b) Transactions reaching or exceeding EUR 200 cumulative within 10 consecutive days
If the total cumulative value of a User’s orders over a ten-day period reaches or exceeds EUR 200, the relevant order will be processed only after successful verification of the User’s identity in accordance with Tier 1 verification standards.
c) Transactions below EUR 10 000 cumulative within 10 consecutive days
If the cumulative transaction amount within any ten-day period does not exceed EUR 10 000, a Tier 1 verification (basic identification) shall be sufficient to process the order.
d) Transactions exceeding EUR 10 000 cumulative within 10 consecutive days
If the cumulative amount of transactions exceeds EUR 10 000 within any ten-day period, the Operator may require enhanced verification (Tier 2), including additional information or documents such as proof of address, source of funds, or any data necessary to comply with enhanced due-diligence requirements.
The Operator may update these thresholds or introduce additional verification tiers in response to amendments in AML/CFT legislation or regulatory guidance issued by the Czech National Bank (ČNB) or the European Banking Authority (EBA).
Verification thresholds and customer due diligence requirements are established in accordance with Act No. 253/2008 Coll. (Czech AML Act) and applicable EU AML/CFT regulations, including Regulation (EU) 2023/1113 and Directive (EU) 2015/849, as amended.
MiCA (Regulation EU 2023/1114) does not itself prescribe monetary thresholds for customer identification.
4.4. User’s Duties
Each User undertakes to:
provide complete, truthful, and current information during registration and verification;
promptly inform the Operator of any changes to such information;
use the Services solely on their own behalf and not on behalf of third parties;
comply with all Applicable Laws and the Terms governing use of the Platform;
maintain the confidentiality of their account credentials and take reasonable measures to prevent unauthorized access.
Users are solely responsible for all actions performed through their account or from their connected wallets. Any use of the Services by a third party through the User’s account shall be deemed authorized by the User.
4.5. Prohibited Use
The Platform shall not be used for any illegal or prohibited purposes, including but not limited to:
money laundering, terrorist financing, fraud, or tax evasion;
trading or transferring assets derived from criminal activities;
attempts to disguise the origin or ownership of funds or crypto-assets;
activities in breach of international sanctions or embargoes;
malicious cyber activity, network attacks, or exploitation of vulnerabilities;
attempts to interfere with the proper operation, security, or availability of the Platform.
The Operator may monitor and report any suspicious transactions to the Financial Analytical Office (FAÚ) or other competent authorities as required by law. The Operator may also suspend, restrict, or terminate access to the Platform in case of any suspected or confirmed breach of these Terms or Applicable Law.
4.6. Rights of the User
Users have the right to access and use the Platform in accordance with these Terms, provided that they remain compliant with all verification and legal requirements.
Users are entitled to fair and transparent treatment, timely execution of legitimate transactions, and protection of their personal data in accordance with GDPR and Czech data protection law (Act No. 110/2019 Coll.).
Rights and Obligations of the Operator
5.1. General Duties of the Operator
The Operator shall perform its activities with professional diligence, transparency, and fairness, in accordance with Regulation (EU) 2023/1114 on Markets in Crypto-Assets (MiCA), Act No. 253/2008 Coll. on AML/CFT, and other Applicable Laws of the Czech Republic and the European Union.
The Operator shall ensure the continuous and secure functioning of the Platform and shall take reasonable technical and organizational measures to safeguard the integrity of transactions, data, and communication channels.
The Operator shall provide Users with clear, accurate, and non-misleading information regarding the Services, fees, and associated risks. All marketing materials and public communications shall comply with MiCA standards of fairness and transparency.
5.2. Right to Modify the Terms
The Operator reserves the right to amend, supplement, or update these Terms and any related policies at any time, provided that such changes are made in compliance with Applicable Law.
Material amendments shall take effect after their publication on the Website and, where legally required, after Users have been duly notified in advance.
Continued use of the Platform following the effective date of the amended Terms shall constitute the User’s acceptance of the revised provisions.
If the User does not agree with the updated Terms, they must cease using the Platform and may request the closure of their account.
5.3. Suspension and Termination of Services
The Operator may, at its sole discretion or as required by law or regulatory authority, suspend or restrict access to the Platform or specific Services in the following cases:
detection of suspicious or potentially unlawful transactions under AML/CFT rules;
non-compliance or incomplete verification of the User’s identity;
security breaches, cyberattacks, or technical incidents affecting the Platform;
violation of these Terms, Applicable Law, or internal policies;
requests or orders issued by competent authorities, including the Czech National Bank (ČNB) or the Financial Analytical Office (FAÚ);
maintenance, updates, or risk-management measures necessary to preserve operational continuity.
Where feasible, the Operator shall provide prior notice of suspension or termination; however, it may act immediately and without notice in cases involving legal, regulatory, or security risks.
Upon termination of the User’s access, the Operator shall ensure that any pending lawful transactions are completed or refunded, provided that no legal or regulatory restriction prevents such settlement.
5.4. Compliance and Cooperation with Authorities
The Operator shall maintain full cooperation with the Czech National Bank (ČNB), FAÚ, and other competent supervisory bodies. The Operator may disclose User data or transaction information to such authorities when required under Applicable Law, including AML/CFT obligations, judicial orders, or regulatory requests.
The Operator shall implement internal policies and procedures to ensure continuous compliance with MiCA, AML/CFT, GDPR, and other relevant regulatory frameworks, and shall maintain all records for the periods required by law.
Risk Disclosure and Limitation of Liability
6.1. General Statement
Trading, exchanging, and holding crypto-assets involve significant risks.
The Operator provides the Services strictly as a non-custodial exchange platform and does not guarantee the value, stability, or liquidity of any crypto-asset.
By using the Platform, each User acknowledges that they understand and accept all risks associated with crypto-assets and blockchain technology.
6.2. Market and Price Risks
Crypto-assets are highly volatile instruments whose value may fluctuate substantially over short periods.
Prices are influenced by supply and demand, market speculation, legal or regulatory developments, technological changes, and other external factors beyond the control of the Operator.
Users may lose part or all of the value of their exchanged assets. The Operator shall not be responsible for any depreciation, devaluation, or loss arising from market movements.
6.3. Technology and Operational Risks
Transactions conducted through distributed-ledger technology (DLT) are irreversible once confirmed on the blockchain.
The Operator has no ability to modify, reverse, or cancel completed transactions.
Risks include but are not limited to:
software bugs or vulnerabilities in blockchain networks;
delays or failures in transaction confirmation;
loss or theft of private keys or credentials;
cyberattacks, phishing, or malware;
network congestion or protocol errors.
The User is solely responsible for the security of their wallet, devices, and network access.
The Operator shall not be liable for losses resulting from User negligence, system incompatibility, or third-party failures.
6.4. Regulatory and Legal Risks
The legal status of crypto-assets and related activities may vary among jurisdictions and is subject to evolving regulation.
Changes in legislation, supervisory decisions, or administrative measures at the EU or national level may affect the availability, legality, or taxation of the Services.
The Operator reserves the right to modify, suspend, or cease certain Services to ensure compliance with any new legal or regulatory obligations.
6.5. Counterparty and Third-Party Risks
The Operator relies on third-party service providers, such as payment institutions, liquidity providers, and blockchain gateways.
While such partners are selected with due diligence, the Operator does not guarantee their continuous availability or performance.
Any interruption or failure of third-party systems may temporarily affect the execution or settlement of transactions.
6.6. Limitation of Liability
To the fullest extent permitted by Applicable Law, the Operator’s total aggregate liability to any User, whether in contract, tort, or otherwise, shall not exceed the total amount of fees actually paid by that User to the Operator in connection with the relevant transaction.
The Operator shall not be liable for any indirect, consequential, incidental, special, or punitive damages, including but not limited to any loss of profit, revenue, data, business opportunity, or goodwill. Nothing in these Terms shall exclude or limit any liability arising from fraud, willful misconduct, gross negligence, or any liability that cannot be lawfully excluded or limited under Czech or EU law.
Without limiting the foregoing, the Operator shall not be responsible for any direct or indirect loss, damage, cost, or expense resulting from or related to:
any delay, interruption, or unavailability of the Platform caused by force majeure, cyber incidents, or network failures;
errors, delays, or failures in blockchain confirmations or transactions executed through third-party systems beyond the Operator’s control;
the User’s own misuse, negligence, or failure to safeguard private keys, credentials, or wallet access;
any actions lawfully taken by the Operator to comply with legal or regulatory obligations, including AML/CFT reporting, transaction monitoring, asset freezing, or execution of official orders issued by competent authorities.
The Operator’s total cumulative liability to any User shall, to the maximum extent permitted by Applicable Law, not exceed the total amount of fees actually paid by that User to the Operator in connection with the disputed transaction.
Nothing in these Terms shall exclude or limit liability that cannot be lawfully excluded under Czech or EU consumer protection law.
6.7. No Guarantee of Profit or Value
The Operator does not provide investment advice, portfolio management, or any guarantee of profit or return. Crypto-asset exchange through the Platform does not constitute an investment activity within the meaning of financial-services legislation. Users should seek independent professional advice before engaging in any transaction involving crypto-assets.
Transaction Conditions
7.1. General Principles
All transactions conducted through the Platform are governed by these Terms and executed in accordance with the information, rates, and limits displayed at the time of the order.
By initiating an order, the User irrevocably authorizes the Operator to process the exchange in accordance with the quoted rate and applicable fees.
All exchange operations are final and cannot be reversed once confirmed on the relevant blockchain or processed through an authorized payment system.
7.2. Minimum and Maximum Transaction Amounts
The Platform applies minimum and maximum transaction limits to ensure compliance with Applicable Law, liquidity management, and operational safety.
The minimum transaction amount for crypto-asset exchange is EUR 20 (or equivalent in another supported currency).
The maximum amount per single transaction is EUR 10,000, unless otherwise approved after successful enhanced verification (Tier 2).
The Operator reserves the right to adjust these thresholds at any time without prior notice, in response to market conditions, AML/CFT obligations, or technical capacity.
Any transaction below the minimum or above the applicable maximum limit will not be processed and may be refunded, subject to applicable fees and verification.
7.3. Fees and Exchange Rates
All fees and applicable charges are transparently displayed to the User before order confirmation.
The Platform applies exchange rates derived from aggregated market data at the moment of the transaction.
The Operator does not guarantee any specific rate prior to the confirmation of the order and shall not be liable for market fluctuations occurring between order initiation and confirmation.
Transaction fees may include:
a service fee charged by the Operator for processing the exchange;
network (blockchain) fees charged by the respective distributed ledger;
payment provider or bank fees where applicable to fiat transactions.
All fees are final and non-refundable once the transaction is executed.
7.4. Processing Timeframes
Transaction processing times may vary depending on network congestion, blockchain confirmation times, and the performance of third-party payment or liquidity providers.
Under normal operating conditions:
Crypto-to-crypto exchanges are typically completed within a few minutes after network confirmation;
Fiat-related transactions may require one (1) to three (3) business days depending on the User’s payment provider and jurisdiction.
The Operator shall not be liable for delays caused by blockchain network congestion, external service interruptions, or force majeure events.
7.5. Order Confirmation and Execution
A transaction is considered executed once the Operator confirms receipt of the User’s crypto-assets or fiat funds and sends the exchanged amount to the destination wallet or bank account specified by the User.
Users are responsible for ensuring the accuracy of all wallet addresses and payment details provided.
Any transaction sent to an incorrect or incompatible address may result in the irretrievable loss of funds, for which the Operator assumes no responsibility.
7.6. Cancellations and Refunds
Due to the irreversible nature of blockchain transactions, orders cannot be canceled or modified once initiated and confirmed by the User.
Refunds are possible only under the following exceptional circumstances:
the transaction could not be executed due to a technical error or system malfunction attributable to the Operator;
the User’s payment was received but could not be matched to an active order and remained unprocessed for more than five (5) business days;
the Operator was legally obliged to return funds under Applicable Law or by order of a competent authority.
All refunds shall be made to the original source of payment or to the verified wallet/bank account of the User, net of applicable transaction and network fees.
7.7. Finality of Transactions
Once a transaction is completed and recorded on the blockchain, it is final and irreversible.
The Operator has no technical ability to reverse or recover crypto-assets transferred to incorrect or unintended wallet addresses.
By using the Platform, the User acknowledges and accepts the final and irreversible nature of all crypto-asset transactions.
Clients Acknowledgements
Clients utilizing PaYard’s services agree to comply with all applicable laws and regulations in their respective jurisdictions. Clients acknowledge that they are responsible for securing their assets, transactions, and any personal security credentials related to PaYard’s services.
Clients have the right to use PaYard’s decentralized user-controlled wallet for storing, sending, and receiving digital assets.
Clients acknowledge that they have full control over their digital assets and private keys, and PaYard shall not be liable for any loss resulting from mismanagement, unauthorized access, or third-party breaches.
Clients agree to comply with all applicable laws and regulations governing digital asset transactions in their respective jurisdictions.
Clients must provide accurate and complete information when using PaYard services and update their details as necessary.
Clients shall not use PaYard services for illegal activities, including money laundering, fraud, or financing terrorism, as defined in these Terms and Compliance Policies.
PaYard may conduct compliance checks to ensure that transactions comply with anti-money laundering and counter-terrorism financing regulations.
Limitation of Liability for the Use of Electronic Currencies
PaYard does not hold or control Clients’ private keys and shall not be responsible for any unauthorized access, loss, or theft of digital assets.
PaYard reserves the right to suspend or terminate services to Clients who violate the terms of this agreement or applicable laws.
PaYard does not guarantee the stability, security, or value of any electronic currencies used within its platform.
Clients acknowledge that digital asset transactions are highly volatile, and PaYard is not liable for any financial losses incurred due to price fluctuations, regulatory actions, or market instability.
PaYard shall not be responsible for any technical failures, network downtime, or interruptions that may affect digital asset transactions.
Clients assume full responsibility for safeguarding their login credentials, private keys, and transaction details. PaYard shall not be held liable for any losses resulting from unauthorized access or third-party actions.
PaYard does not provide investment advice, financial recommendations, or assurances regarding the future value of digital assets.
PaYard reserves the right to suspend or restrict digital asset services in compliance with legal and regulatory obligations, and it shall not be liable for any consequences arising from such actions.
The availability of digital assets or fiat currencies for any transaction type does not guarantee that such assets will remain available in the future. Clients are solely responsible for regularly monitoring the supported assets and currencies listed on PaYard’s platform. PaYard does not guarantee continued support for any particular digital asset or fiat currency, regardless of whether the Client is engaged in time-sensitive transactions, such as trades, deposits, or withdrawals involving that asset.
PaYard reserves the right to discontinue the support of any digital asset or fiat currency, with or without prior notice. In such cases, PaYard may take necessary actions, including canceling trade instructions, restricting usage, or requiring Clients to withdraw the discontinued assets from their accounts within a reasonable timeframe. Failure to withdraw discontinued assets may result in their removal from the account.
Under no circumstances (to the extent permitted by law) shall PaYard be held liable for any direct or indirect losses, damages, or costs incurred by the Client due to the discontinuation of support for any digital asset or fiat currency. Any actions or decisions made by PaYard in connection with asset or currency support are governed by this agreement.
Clients acknowledge and accept the inherent risks associated with the use of digital assets and electronic currencies. By choosing to engage in transactions involving such currencies, Clients agree to assume full responsibility for any financial losses, technical errors, or regulatory implications. Clients are encouraged to educate themselves on the nature of digital assets, including their volatility, security considerations, and applicable laws, and also agrees with all possible steps of PaYard that may be required from time to time for compliance and verification.
Duration & Changes to the Terms
9.1. Duration of the Agreement
These Terms constitute a legally binding agreement between the User and the Operator and shall remain in effect from the moment the User first accesses or uses the Platform, or confirms acceptance of these Terms, whichever occurs earlier.
The contractual relationship between the User and the Operator shall continue for an indefinite period unless and until terminated by either party in accordance with these Terms.
The User may terminate this Agreement at any time by ceasing to use the Services and, where applicable, closing their account, provided that all outstanding transactions and legal obligations have been duly settled.
The Operator may terminate or suspend the User’s access to the Platform at any time upon reasonable notice, or immediately if required to comply with Applicable Law, regulatory obligations, or internal risk policies.
9.2. Changes and Amendments
The Operator reserves the right to amend, supplement, or otherwise modify these Terms at any time, to the extent permitted by law, in order to:
reflect changes in Applicable Law, including MiCA, AML/CFT regulations, or supervisory requirements issued by the Czech National Bank (ČNB);
adjust to new Services, technologies, or security standards; or
improve the clarity, transparency, or operation of the Platform.
All amendments to these Terms shall take effect upon their publication on the official website https://payard.cz or on the date expressly specified in the notice of amendment.
Material changes affecting Users’ rights or obligations shall be communicated in advance via the Platform interface or by electronic notice sent to the User’s registered email address.
9.3. User’s Right to Object
If the User does not agree with the amended Terms, they must discontinue use of the Platform and, if applicable, request the closure of their account before the effective date of the amendments.
Continued access to or use of the Platform after the amended Terms have entered into force shall constitute the User’s full and irrevocable acceptance of the updated provisions.
9.4. Survival of Provisions
Termination of these Terms shall not affect any rights or obligations that have accrued prior to termination, including but not limited to provisions relating to:
compliance;
liability and indemnification;
confidentiality and data protection;
dispute resolution and governing law.
Such provisions shall remain enforceable notwithstanding the termination of the contractual relationship.
Client's Data
The processing of Client data is governed by the Privacy Policy, which is available on the Website. By accepting the Terms, the Client also agrees to the terms outlined in the Privacy Policy. The Client is encouraged to print and retain a copy of both documents for reference.
All relevant Client data is stored and updated electronically in accordance with legal requirements.
The Client acknowledges that PaYard processes personal and other data in compliance with the General Data Protection Regulation (GDPR) and other applicable laws. PaYard may process personal data of the Client, its representatives, authorized persons, beneficial owners, and other related third parties. Processing activities include the collection, registration, input, storage, modification, use, transfer, disclosure, blocking, or deletion of data. The Client is responsible for obtaining consent from all individuals whose personal data they provide to PaYard.
The purpose of data processing includes compliance with legal and regulatory requirements, Client registration, the provision and maintenance of PaYard services, employee and asset security, and other lawful business interests of PaYard. PaYard serves as the Personal Data Controller.
Prohibited Activities and Jurisdictions
PaYard has its own compliance policies to prevent the risks of money laundering, terrorist financing and the use of services for dangerous and/or illegal activities. For security reasons, they are not published in the public domain at the request of the Chief Compliance Officer.
However, to ensure transportability in compliance with the principle of due diligence, the following activities are prohibited when using PaYard services. It is strictly prohibited to send or receive payments for goods or services related to child exploitation, violent or hate-related content, weapons and firearms, unlicensed gambling, counterfeit or copyright-infringing goods, tobacco products, subscription-based services with automatic renewals requiring negative response cancellations, services exceeding one year in length, direct marketing schemes relying on unclaimed incentives (“breakage”), multilevel marketing, unauthorized supply chain manipulation (“up supplying”), grey market transactions exploiting regulatory loopholes, telemarketing services (both inbound and outbound), reverse auctions, raffles, prize draws, pyramid schemes, and any services that facilitate illegal activities, environmentally destructive businesses, trade in protected species, counterfeit goods, religious organizations, unlicensed money transfer services (such as Hawala), bearer share companies, unregulated businesses requiring licenses, pyramid or Ponzi schemes, conflict diamond trading, adult content (including live streams, webcams, and offensive material), boiler room frauds, land banking, carbon trading, political parties, offshore banks, businesses involved in adult entertainment, illegal drug paraphernalia, and entities associated with terrorism, such as Al-Qaida, the Taliban, and those listed under the Justice for Victims of Corrupt Foreign Officials Act. PaYard reserves the right, at its sole discretion, to expand this list.
The Client may not use PaYard services if the Client is residing in any of the countries of FATF blacklist, OFAC Sanctions List and other countries mentioned in various sanction lists or in recommendations of regulating authorities against cooperation. This list is not exhaustive and PaYard may decide in its sole discretion to discontinue or restrict PaYard’s services in other countries at any time and without prior notice. PaYard reserves the right to suspend or terminate PaYard Account at any time if PaYard reasonably believe to be required to do so by law or in order to comply with recommendations issued by a relevant government authority or recognised body for the prevention of financial crime.
It is strictly forbidden to use PaYard Account for any illegal purposes including but not limited to fraud and money laundering. PaYard will report any suspicious activity to the relevant law enforcement agency. The Client is prohibited from using PaYard Account in an attempt to abuse, exploit or circumvent the usage restrictions imposed by a merchant on the services it provides.
If the Client conducts or attempts to conduct any transaction in violation of the prohibitions contained in this section, PaYard reserves the right to: reverse the transaction; and/or close or suspend PaYard Account; and/or report the transaction to the relevant law enforcement agency; and/or claim damages from the Client; and charge the Client a fee according to applicable Fees, in case PaYard applies any of the above.
It is the Client’s and not PaYard responsibility to ensure that the Client only sends payments to or receive payments from persons or entities for the sale or supply of goods and services that the Client may provide or receive in compliance with any applicable laws and regulations. The mere fact that a person or entity accepts payments through PaYard Account is not an indication of the legality of the supply or provision of their goods and services. If the Client is in doubt as to the legality of a supply or purchase, the Client should not continue with the Client’s payment. It is the Client’s and not PaYard responsibility to ensure bank account details are entered correctly to avoid payment errors and any charges.
Intellectual Property Rights
The content, including text, graphics, logos, icons, images, audio clips, digital downloads, and software on the website, is the property of the Company its content suppliers and is protected by international copyright and intellectual property laws. Users are granted a limited license to access and make personal use of this site but are not allowed to download (other than page caching) or modify it, or any portion of it, except with express written consent of the Company. This license does not include any resale or commercial use of this site or its contents; any collection and use of any product listings, descriptions, or prices; any derivative use of this site or its contents; any downloading or copying of information for the benefit of another merchant; or any use of data mining, robots, or similar data gathering and extraction tools. The PaYard name and logos and all related product and service names, design marks and slogans are the trademarks or service marks of PaYard or its affiliates or suppliers. All other marks are the property of their respective companies. No trademark or service mark license is granted in connection with the materials contained on this site. Access to this site does not authorize anyone to use any name, logo, or mark in any manner.
Dispute Resolution and Governing Law
12.1. Governing Law
These Terms and any contractual or non-contractual obligations arising out of or in connection with them shall be governed by and construed in accordance with the laws of the Czech Republic, without regard to its conflict-of-law principles.
Where applicable, mandatory provisions of European Union law shall take precedence, including Regulation (EU) 2023/1114 on Markets in Crypto-Assets (MiCA) and related EU regulations.
12.2. Jurisdiction
All disputes, claims, or controversies arising out of or relating to these Terms, the Services, or any transaction conducted through the Platform shall be subject to the exclusive jurisdiction of the competent courts of the Czech Republic, with the Municipal Court in Prague (Městský soud v Praze) serving as the court of first instance, unless otherwise required by mandatory consumer-protection legislation.
Nothing in this clause shall prevent a consumer residing in the European Union or European Economic Area from bringing a claim before the courts of their habitual residence, where such right is granted by EU consumer law.
12.3. Pre-Litigation Resolution
Before initiating any legal action, the User shall first seek to resolve the matter amicably through the Operator’s internal complaint-handling procedure.
Complaints may be submitted in writing via email to support@payard.cz, specifying the nature of the complaint, the date and details of the transaction, and supporting evidence.
The Operator undertakes to acknowledge receipt of the complaint within five (5) business days and to provide a substantive response within thirty (30) days from the date of receipt, unless a different timeframe is required by law.
If the dispute cannot be resolved amicably, either party may refer the matter to the competent court or, if applicable, to an alternative dispute resolution (ADR) entity recognized in the Czech Republic, such as the Czech Trade Inspection Authority (ČOI) for consumer disputes.
12.4. Language of the Contract
These Terms and all related documents are originally drafted in English.
Translations into Czech or other languages may be provided for convenience only.
In the event of any inconsistency or discrepancy between the English version and any translation, the English version shall prevail.
12.5. Right to File a Direct Complaint
Without prejudice to the internal complaint procedure, each User has the right to file a direct complaint with the competent supervisory or consumer authority.
Depending on the nature of the issue, this may include:
the Czech National Bank (Česká národní banka, ČNB) – in matters relating to compliance with MiCA and crypto-asset service regulation;
the Czech Trade Inspection Authority (ČOI) – in matters concerning consumer protection and fair commercial practices;
or the Office for Personal Data Protection (Úřad pro ochranu osobních údajů, ÚOOÚ) – in matters concerning the processing and protection of personal data.
Force Majeure
PaYard shall not be held liable for any failure or delay in performing its obligations under these Terms due to circumstances beyond its reasonable control, including but not limited to:
Acts of God, natural disasters, earthquakes, floods, fires, hurricanes, or other extreme weather conditions.
Pandemics, epidemics, public health emergencies, or government-imposed quarantines.
War, military conflicts, invasions, hostilities (whether war is declared or not), terrorist attacks, civil unrest, riots, or protests.
Strikes, labor disputes, industrial actions, or lockouts affecting PaYard or its service providers.
Government actions, sanctions, embargoes, changes in laws, regulatory restrictions, or currency controls.
Power failures, breakdown of infrastructure, transportation blockages, fuel shortages, or supply chain disruptions.
Telecommunications or internet failures, system outages, cyberattacks, hacking, or other disruptions in digital infrastructure, including errors, failures, malfunctions of software,.
Bank failures, payment system collapses, or insolvency of financial institutions affecting PaYard’s ability to process transactions.
Freezing of assets due to regulatory orders, investigations, or court mandates.
Any other event beyond PaYard’s reasonable control that prevents it from fulfilling its obligations.
In the event of a force majeure situation, PaYard shall make reasonable efforts to mitigate the impact on its services and resume normal operations as soon as possible. However, PaYard shall not be responsible for any losses, damages, or liabilities incurred by the Client due to such events. The Client acknowledges that interruptions caused by force majeure events may impact transactions, withdrawals, deposits, or other services without prior notice.
If a force majeure event continues for a prolonged period, PaYard reserves the right to suspend or terminate affected services without liability. Any obligations suspended due to force majeure shall be resumed once the force majeure event ceases, provided it is feasible.
These limitations apply to the fullest extent permitted by applicable law and shall remain in effect regardless of the duration or severity of the force majeure event.
Miscellaneous
Enforceability
If any provision of these Terms is found to be invalid, illegal, or unenforceable by a competent court or regulatory authority, the remaining provisions shall continue in full force and effect. Any unenforceable provision shall be replaced by a valid provision that reflects as closely as possible the original intent of the parties. If any part of the Terms and Conditions is found by a court of competent jurisdiction to be invalid, unlawful or unenforceable then such part shall be severed from the remainder of the Terms and Conditions, which shall continue to be valid and enforceable fully permitted by law.
Survival
Any obligations or rights under these Terms that by their nature should survive termination, including but not limited to disclaimers, limitations of liability, indemnities, confidentiality obligations, and dispute resolution provisions, shall continue to apply after the termination of the Client’s relationship with PaYard.
Assignment
The Client may not assign or transfer any of its rights or obligations under these Terms without PaYard’s prior written consent. PaYard may assign, transfer, or delegate its rights and obligations under these Terms to any affiliate, subsidiary, or third party without requiring prior consent from the Client. Such assignment will not affect the rights and obligations of the Client under these Terms.
These provisions ensure the continued enforceability of the Terms, the survival of key obligations, and the ability of PaYard to transfer its rights when necessary.
Contact Information
For any questions, concerns, or legal notices related to these Terms, Clients may contact PaYard through the following channels:
Email: support@payard.cz
Official Website: www.payard.cz
Registered Address: 208 PaYard s.r.o., Vlkova 532/8, Žižkov, CZ-13000 Praha.
Working hours (9.00-21.00, every day Central European Time (CET)
Requests and complaints received outside these hours shall be deemed received on the next business day.
PaYard reserves the right to update contact details or communication methods as necessary, with such updates being reflected in these Terms.
Office Adress
Vlkova 532/8, Prague 3, 130 00.
Czech Republic
Disclaimer:
PaYard operates as a non-custodial crypto-asset exchange service provider (CASP) in accordance with Regulation (EU) 2023/1114 on Markets in Crypto-Assets (MiCA) and relevant Czech legislation.
PaYard provides crypto-to-crypto and crypto-to-fiat exchange services only, without holding or managing clients’ crypto-assets or private keys.
PaYard does not provide any services involving custody, lending, staking, investment advice, portfolio management, brokerage, or other regulated financial or payment activities.
The Platform’s services are intended solely for users who are legally eligible to use crypto-asset exchange services under applicable EU and Czech laws, and are not available in jurisdictions where such services are restricted or prohibited.
PaYard acts transparently and independently, and does not guarantee returns, profits, or investment performance of any crypto-assets exchanged through the Platform.