Pre-sale Policy

About our terms
These Terms and Conditions (‘Terms’) apply only when you place an order for the hardware such as Lfi Smartphone, XLfi Miners (1000 and 5000) (‘Device’) from the Lyotech Labs website [link] during the pre-sale period. By placing an order you agree to be bound by these Terms which will form a binding contract between Lyotech Labs (we, us or our) and you, the person purchasing the Device during the pre-sale (Purchaser, you or your). If you do not agree with any of these Terms, you should not proceed in purchasing the Device. Please keep a copy of these Terms for your records. 
A pre-sale is an offer to purchase Devices which are not yet available for general sale via Lyotech’s website. 
In order to place an order during the pre-sale period,, you will need to provide certain information, including but not limited to your name, address and billing information. It is your responsibility to ensure this information is accurate and up to date.  If we do not have accurate information, we will not be able to keep you informed of the purchase  or refund any payments, if applicable.
These Terms may be made available in several languages; all versions are legally binding, but in the event of inconsistency between the English version and a translated version, the English version prevails.
By purchasing the Device, you agree that you have read, understood and accepted these Terms as well as our General Terms and Conditions, Privacy & Cookie Policy, and Delivery Condition all available at the Lyotech Labs website here: [insert link to docs], which are deemed to be incorporated into these Terms by reference.
Supply of Device(s)
These Terms commences on the time of purchase (Commencement Date) and shall continue until the sale goes live, when it shall terminate automatically unless terminated earlier in accordance with clause 17 (the Term) and the updated terms and conditions will come into effect.
Orders
The Purchaser may at any time during the pre-sale pre-purchase a Device from the retail website (an Order).
An Order shall constitute an offer by the Purchaser to purchase the specified Device(s) in accordance with these Terms.
The offer constituted by an Order shall remain in effect and capable of being accepted by the Lyotech Labs until the Purchaser receives an order confirmation to the contact details provided at checkout, if the Purchaser does not receive an order confirmation within [insert time frame] after placing the order, these Terms shall automatically be void and not binding upon either us or you.
The Lyotech Labs may accept or reject an Order at its discretion. An Order shall not be accepted, and no binding obligation to supply any Device(s) shall arise, until the Lyotech Labs’s written acceptance of the Order via order confirmation. 
Rejection by the Lyotech Labs of an Order, including any communication that may accompany such rejection, shall not constitute a counter-offer capable of acceptance by the Purchaser.
Marketing and other promotional material relating to the Device(s) are illustrative only and do not form part of these Terms. The Purchaser agrees that, in submitting an Order, it has not relied on any representations or statements by the Lyotech Labs other than those expressly set out in these Terms.
LFi Bonus Program Terms 
Lyotech Labs is offering a Bonus Program (Bonus Program) to Purchasers who have purchased the Devices during the pre-sale period.
When an Order is placed, the Purchaser shall be entitled to receive free shares of Lyotech Labs. These shares will be tokenized as non-fungible tokens (NFTs) and will be distributed to the Purchasers only after the pre-sale period has ended. 
The allocation of shares will be as follows:
a) Purchasers of the LFi One Smartphone will receive one share.
b) Purchasers of the XLFiMiner 1000 will receive one share.
c) Purchasers of the XLFiMiner 5000 will receive five shares.
Purchasers will be able to redeem their NFTs for shares in their portfolios in the event that Lyotech Labs decides to go public in the future. The NFTs cannot be sold or traded for any other asset or currency.
The NFTs do not entitle the holder to any rights, including voting rights or pre-emption rights. The NFTs also do not entitle the holder to any dividends or other similar distributions.
We reserve the right to modify, extend, or cancel the Bonus Program at any time without prior notice to You. We also reserve the right to disqualify any Purchaser from the Bonus Program who breaches these Terms or engages in any fraudulent activity.
We make no representations or warranties regarding the potential value of the shares or the success of Lyotech Labs. Purchasers are advised to conduct their own research and due diligence before participating in the Bonus Program.
Delivery
Where possible orders will be shipped to you or be ready for collection as soon as is practicable, subject to availability. Release dates are decided by our manufacturers and are subject to change. As a result, we cannot be liable for any changes to Release dates or Pre-sale period advertised by us.
 The Device(s) shall be deemed delivered upon dispatch (Delivery).
Purchasers shall not be entitled to reject the delivery of Device(s) upon delivery. 
Time of Delivery is not of the essence. The Lyotech Labs shall use its reasonable endeavours to meet Delivery dates but such dates are approximate only.
The Lyotech Labs shall not be liable for any delay in or failure of Delivery.
Warranty
All Devices include standard warranty for two years (the Warranty Period) provided by the manufacturer of the Device(s) (Manufacturer). 
Standard warranty is provided by third party manufacturers, not Lyotech Labs. Lyotech Labs bears no responsibility for the manufacturer’s warranty, and Purchasers are advised to read the terms of such warranty carefully before purchasing.
Purchasers may purchase additional warranty packages for their devices, including either the One Care Plan for the Lfi Smartphone or the XMiner Care Policy for the XLfi Miners (1,000 and 5,000) (Additional Warranty Plans). 
Additional Warranty Plans are valid for two years and subject to their own Terms and Conditions which you are solely responsible for reading and agreeing to when purchasing.
Risk
By purchasing the Device you acknowledge and accept that the capabilities of the Devices include engaging in activities utilising blockchain technology, cryptocurrency asset exchange trading, minting and more. These activities are of a risky and uncertain nature that may result in financial loss or other such losses.
We assume no liability or responsibility for any such risks mentioned or associated with clause 6.1. If you are not comfortable assuming these risks, you should not access or engage in transactions using blockchain-based technology.
Risk in the Device(s) shall pass to the Purchaser on Delivery.
Price
The price of each device is variable, and subject to change at the sole discretion of Lyotech Labs. Once you make the payment and receive your order confirmation, the price cannot be changed. 
The full amount of the Device will be payable upfront when purchasing.
There is a 4.5% advance fee for the Minting Activation (“Minting Activation Fee”) which is payable on all transactions.
Additional charges may occur as follows:
a) a membership is required for the minting, if you do not already have a membership with our third-party partners, the annual fee for such membership is $29. If you are already a member this will automatically be detected at checkout and you will not be subject to this additional charge. Separate terms and conditions will apply for this membership, full details can be found at [insert];
b) shipment- additional shipping charges are determined automatically at checkout based on the country you are purchasing from, and subject to change based on geographical location and time of purchase; 
c) Additional Warranty packages are available for an additional fee; and fees may be applicable for card payments as per clause 8.3.
Payment
The forms of payment accepted by Lyotech Labs are card payment and payment in cryptocurrency.
Lyotech Labs only accepts cryptocurrency payments made in stable coins. 
Payments made by card are subject to additional fees which will be identified at checkout. There is no additional fee for payments made in cryptocurrency.
Dispute resolution
If any dispute arises between the parties out of or in connection with these Terms, the matter shall be referred to Lyotech Labs Customer Support at: [insert email].
If the dispute is not resolved within 30 days of the referral being made, the matter may be escalated as per clause 17.
Entire agreement
The parties agree that these Terms constitute the entire agreement between them and supersedes all previous agreements, understandings and arrangements between them, whether in writing or oral in respect of its subject matter.
Force majeure
Lyotech Labs shall have no liability under or be deemed to be in breach of these Terms for any delays or failures in performance of these Terms which result from Force Majeure. The party subject to the Force Majeure event shall promptly notify the other party in writing when such the event causes a delay or failure in performance and when it ceases to do so.
Variation
No variation of these Terms shall be valid or effective unless it is in writing, refers to these Terms and is expressly agreed to by each party.
Severance
If any provision of these Terms (or part of any provision) is or becomes illegal, invalid or unenforceable, the legality, validity and enforceability of any other provision of these Terms shall not be affected.
Waiver
No failure, delay or omission by either party in exercising any right, power or remedy provided by law or under these Terms shall operate as a waiver of that right, power or remedy, nor shall it preclude or restrict any future exercise of that or any other right or remedy. No single or partial exercise of any right, power or remedy provided by law or under these Terms shall prevent any future exercise of it or the exercise of any other right, power or remedy.
Third party rights
Subject to clause 15.2, no one other than a party to these Terms, shall have any right to enforce any of its provisions.
The Affiliates of the Lyotech Labs shall have the right to enforce the provisions of these Terms.
Governing law
These Terms and any dispute or claim arising out of, or in connection with, its subject matter or formation (including non-contractual disputes or claims) shall be governed by, and construed in accordance with, the laws of the United Arab Emirates.
Jurisdiction
The parties irrevocably agree that the courts of Britich VIrgin Island shall have exclusive jurisdiction to settle any dispute or claim arising out of, or in connection with, these Terms, its subject matter or formation (including non-contractual disputes or claims).
Last modified 5mo ago