Terms and Conditions

Introduction

This website, related mobi-sites and software applications (the "Website") can be accessed at https://www.zarx.co.za and are all the property of and owned and operated by ZAR X (Proprietary) Limited ("ZAR X", "we", "us" and "our").

These Terms and Conditions are binding and enforceable against every person that accesses or uses this Website ("you", "your" or "user"), including without limitation each user who registers to use the website. By using the Website and by clicking on the "Sign Up" button on the Website, as may be applicable, you acknowledge that you have read and agree to be bound by these Terms and Conditions.

The Website enables you to trade online and access all relevant client information.

These Terms and Conditions contain provisions that:

• may limit the risk or liability of ZAR X or a third party; and/or
• may create risk or liability for the user; and/or
• may compel the user to indemnify ZAR X or a third party; and/or
• serves as an acknowledgement, by the user, of a fact.

If there is any provision in these Terms and Conditions that you do not understand, it is your responsibility to ask ZAR X or your Broker (Market Participant) to explain it to you before you accept the Terms and Conditions before using the Website.

Nothing in these Terms and Conditions is intended or must be understood to unlawfully restrict, limit or avoid any right or obligation, as the case may be, created for either you or ZAR X in terms of the Financial Markets Act no.19 of 2012 ("FMA"), The Consumer Protection Act no. 68 of 2008 ("CPA"), the Electronic Communications and Transactions Act no. 25 of 2002 ("ECTA"), the Prevention of Organised Crime Act, No. 121 of 1998, as amended, or the Financial Intelligence Centre Act, No. 38 of 2001 as amended.

The User acknowledges and agrees that the use of the Website, including any and all information, statements, materials, articles, research, data, software, links to third-party Websites, products and services made available on or accessible through the Website (collectively, the Content), is conditional on the User's adherence to the Terms and Conditions, and that such acceptance creates a valid and binding contract between the User and ZAR X (Pty) Ltd., and its subsidiaries and affiliates, (together, ZAR X).

The Terms and Conditions are to be observed in addition to the terms of any agreement the User may enter into with ZAR X and are not intended to modify or supercede the terms of such agreement(s), which agreement(s), in the event of any conflicting terms, will govern.

By using the Website and the Content, the User further agrees:

• to comply with all applicable South African law regarding the transmission of any information through the Website;
• to comply with and be legally bound by the Terms and Conditions;
• not to use the Website for illegal purposes;
• not to interfere with or disrupt the networks, computers and equipment connected to the Website;
• to provide their express consent allowing their personal information to be dealt with in the terms of the Privacy Policy; and
• if, at any time, the User does not wish to accept the Terms and Conditions, the User must discontinue use of the Website and any Content obtained from the Website.

ZAR X may amend the Terms and Conditions from time to time. Please visit the ZAR X Website regularly to check when the Terms were last updated (as displayed at the end of this document) and to review the current Terms and Conditions if need be. We will do our best to notify you of any amendments to the Terms and Conditions that we consider likely to materially affect your rights and obligations. Any such notice will be posted on the ZAR X Website or sent by email to the address associated with your ZAR X account (see Electronic Communications). The continued use of your ZAR X Account, post any amendment to these Terms and Conditions, constitutes your implied acceptance of the Terms and Conditions, duly modified. If you do not accept the Terms and Conditions, or any amendment to them, we request that you refrain from using the ZAR X Webite and your ZAR X account, to the extent practicable.

Only registered users may trade on the Website.

To register as a user, you must provide your unique email address (username) and password and provide certain information and personal details to ZAR X. You will need to use your unique username and password to access the Website in order to trade.

You agree and warrant that your username and password shall:

• be used for personal use only; and
• not be disclosed by you to any third party.

For security purposes you agree to enter the correct username and password whenever trading, failing which you will be denied access.

You agree that, once the correct username and password relating to your account have been entered, irrespective of whether the use of the username and password is unauthorised or fraudulent, you will be liable for payment or settlement of such trading, save where the order is cancelled by you before a matched trade occurs in accordance with these Terms and Conditions.

You agree to notify ZAR X and your Broker (Market Participant) immediately upon becoming aware of or reasonably suspecting any unauthorised access to or use of your username and password and to take steps to mitigate any resultant loss or harm.

By using the Website, you warrant that you are 18 (eighteen) years of age or older and of full legal capacity. If you are under the age of 18 (eighteen) or if you are not legally permitted to enter into a legal agreement, then you may use the Website only with the involvement and supervision of your legal parent or legal guardian. If your legal parent or legal guardian supervises you and gives his/her consent, then such person agrees to be bound to these Terms and Conditions and to be liable and responsible for you and all your obligations under these Terms and Conditions.

You agree that you will not in any way use any device, software or other instrument to interfere or attempt to interfere with the proper working of the Website. In addition, you agree that you will not in any way use any robot, spider, other automatic device, or manual process to monitor, copy, distribute or modify the Website or the information contained herein, without the prior written consent from an authorised ZAR X representative (such consent is deemed given for standard search engine technology employed by Internet search websites to direct Internet users to this Website).

You may not use the Website to distribute material which is defamatory, offensive, contains or amounts to hate speech or is otherwise unlawful.

You may not in any way display, publish, copy, print, post or otherwise use the Website and/or the information contained therein without the express prior written consent of an authorised ZAR X representative.

Securities or financial instruments mentioned in the Website may not be suitable or appropriate for all investors. Users' particular needs, investment objectives and financial situations were not taken into account in the preparation of the Website.

The fact that ZAR X has made or may make Content available on or accessible through the Website does not constitute a representation by ZAR X that any such Content is suitable or appropriate for Users. The Content is for the User's personal use, and ZAR X is not soliciting any action based upon its provision. The Content is not to be construed as a recommendation or an offer to buy or sell, or the solicitation of an offer to buy or sell, or to enter into any transaction in respect of any security, financial product or other instrument. Although the information contained in the Content is obtained or compiled from or based upon information that ZAR X considers reliable, ZAR X does not represent that such information is accurate, current or complete.

Furthermore, the User acknowledges that:

• the Website is provided for information purposes only;
• the Website may include information taken from third-party sources; and
• any reliance on any portion of the Content shall be at User's sole risk.

Registered users may only place buy or sell orders on the website via a Broker (Market Participant), which ZAR X may accept or reject. Whether or not ZAR X accepts an order depends on the availability of shares and/or cash as the case may be and the correctness of the information provided.

Registered users will only be allowed to place buy or sell orders once they:

• are approved by the Broker (Market Participant) they have registered with;
• accepted the Broker Mandate of the Broker they have registered with;
• accepted the Central Securities Depository Participant (CSDP) Mandate;
• have a Segregated Depository Account (SDA) with the South African Central Securities Depository (CSD), Strate (Pty) Ltd; and
• accepted these Terms and Conditions.

When you register on the Website you agreed that you acknowledge and are aware:

• of the risks associated with trading in securities and investments and that you understand and accept that this includes the risk of financial loss to you. Risks include, but are not limited to, the following risks for local and foreign investments: currency risk, market risk, interest risk, exchange rate risk and the default or insolvency on the part of any local and/or foreign custodians, banks or other financial institutions the ZAR X makes use of. You will not hold ZAR X legally responsible for any loss you suffer or costs you incur because you took part in any local or foreign investment;
• that ZAR X provides market infrastructure and does not guarantee a return on your investments;
• that you understand it is your duty to comply with the settlement obligations in terms of the ZAR X Trading Rules and Obligations, which can be obtained from the Website at any time;
• you understand that there are risks associated with sending instructions using the Website and you agree to carry the risk of sending instructions using the Website; and
• that all dealings are subject to the rules, directives, practice, and usage of ZAR X or the market.

Payment

We are committed to providing secure online payment facilities. All transactions are encrypted using appropriate encryption technology.

We respect your privacy and will take reasonable measures to protect it.

The right to protection of "personal information" is applicable not only to a natural person (i.e. an individual) but also to any legal entity, including companies and communities or other legally recognised organisations. All of these entities are considered to be "data subjects" and are afforded the same right to protection of their information.

Should you decide to register as a user on the Website, we may require you to provide us, as well as your registered Broker (Market Participant), with personal information which includes but is not limited to:

• your name and surname;
• your email address;
• your physical address;
• your postal address;
• your gender;
• your mobile number;
• your date of birth;
• your income tax number; and
• your bank account details.

Should your personal information change, please inform your registered Broker (Market Participant) and provide them with updates to your personal information as soon as reasonably possible to enable them to update your personal information.

You may choose to provide additional personal information to us, as well as your registered Broker, in which event you agree to provide accurate and current information, and not to impersonate or misrepresent any person or entity or falsely state or otherwise misrepresent your affiliation with anyone or anything.

Personal data, or personal information, means any information about an individual from which that person can be identified. It does not include data where the identity has been removed (anonymous data).

Depending on how you interact with our Website, we collect different kinds of information from or about you. We may collect, use, store and transfer different kinds of personal data about you which we have grouped together follows:

• Identity Data includes first names, last name, postal address, physical address, username or similar identifier, marital status, title, date of birth, race and gender.
• Contact Data includes billing address, delivery address, location, email address and/or telephone numbers.
• Financial Data includes bank account and payment card details, payment history.
• Transaction Data includes details about payments to and from you and other details of products and services you have purchased from us as well as details about orders, trades, transfers and corporate actions through the Exchange and/or CSDP and/or CSD.
• Technical Data includes internet protocol (IP) address, your login data, browser type and version, make and model, operating system, hardware version, platform, device settings and other technology identification on the devices used to access our Sites, file and software names and types, device identifiers, time zone setting and location, device locations such as through GPS, Bluetooth or WiFi signals, browser plug-in types and versions, operating system and platform, connection information such as the name of your mobile operator or ISP, browser type, language and time zone, mobile phone number and IP address.
• Profile Data includes your username and password, orders made by you, your interests, preferences, feedback and survey responses.
• Usage Data includes information about how you use our website, products and services, how you use your devices to access our website, including the screens you visit and searches you make
• Special Categories of Personal Data includes details about your race or ethnicity or religion.
• Biometric Data includes biometric information such as fingerprints, face recognition and/or voice recognition.
• Other Data includes:
  • photos or other data uploaded onto any of our Sites by you or shared with other users of our Sites by you via our Sites;
  • communications with us via social media platforms, email, electronic messages and other electronic and non-electronic communications;
  • third party partner information related to how you use our third-party partners;
  • your networks and connections made available to us, depending on the permissions you have granted, from your mobile and desktop devices' address book contacts, and other social media such as Facebook, Instagram, Pinterest and Twitter; and
  • Marketing and Communications Data includes your preferences in receiving marketing from us and our third parties and your communication preferences.

We also collect, use and share aggregated data such as statistical or demographic data for any purpose. Aggregated Data may be derived from your personal data but is not considered personal data in law as this data does not directly or indirectly reveal your identity. For example, we may aggregate your Usage Data to calculate the percentage of users accessing a specific website feature. However, if we combine or connect aggregated data with your personal data so that it can directly or indirectly identify you, we treat the combined data as personal data which will be used in accordance with this Privacy Policy.

We do not collect the following Special Categories of Personal Data: your philosophical beliefs, sex life, sexual orientation, political opinions, trade union membership, information about your health and genetic data. Nor do we collect any information about criminal convictions and offences.

We will not, without your express consent use your personal information for any purpose other than as set out below:

• in relation to trading on ZAR X;
• to inform you of market related news though the ZAR X Publishing Service (ZAPS)™;
• to contact you regarding services offered by us or any of our divisions and/or partners (unless you have opted out from receiving marketing material from us);
• to inform you of new features, special offers and promotional competitions offered by us or any of our divisions and/or partners (unless you have opted out from receiving marketing material from us); and
• to improve your experience on our Website by, for example, monitoring your browsing habits, or tracking your activity on the Website; or
• disclose your personal information to any third party other than as set out below:
  • to our employees and/or third-party service providers who assist us to interact with you via our Website, email or any other method, in relation to trading on ZAR X, and thus need to know your personal information in order to assist us to communicate with you properly and efficiently;
  • to our divisions and/or partners (including their employees and/or third party service providers) in order for them to interact directly with you via email or any other method for purposes of sending you marketing material regarding any current or new services, new features, special offers or promotional items offered by them (unless you have opted out from receiving marketing material from us);
  • to law enforcement, government officials, fraud detection agencies or other third parties when we believe in good faith that the disclosure of personal information is necessary to prevent physical harm or financial loss, to report or support the investigation into suspected illegal activity, or to investigate violations of these Terms and Conditions;
  • to ZAR X approved Brokers (Market Participants), a CSDP and a CSD as well as any third party provider who as part of ongoing KYC regulations and opening of accounts require such personal information in order to accurately open and monitor accounts on behalf of the User; and
  • to our service providers (under contract with us) who help with parts of our business operations (fraud prevention, marketing, technology services etc). However, our contracts dictate that these service providers may only use your information in connection with the services they perform for us and not for their own benefit.

We are entitled to use or disclose your personal information if such use or disclosure is required in order to comply with any applicable law, subpoena, order of court or legal process served on us, or to protect and defend our rights or property. In the event of a fraudulent online payment, ZAR X is entitled to disclose relevant personal information for criminal investigation purposes or in line with any other legal obligation for disclosure of the personal information which may be required of it.

We will ensure that all of our employees, third party service providers, divisions and partners (including their employees and third-party service providers) having access to your personal information are bound by appropriate and legally binding confidentiality obligations in relation to your personal information.

We will -

• treat your personal information as strictly confidential, save where we are entitled to share it as set out in this policy;
• take appropriate technical and organisational measures to ensure that your personal information is kept secure and is protected against unauthorised or unlawful processing, accidental loss, destruction or damage, alteration, disclosure or access;
• provide you with access to your personal information to view and/or update personal details;
• promptly notify you if we become aware of any unauthorised use, disclosure or processing of your personal information;
• provide you with reasonable evidence of our compliance with our obligations under this policy on reasonable notice and request; and
• upon your request, promptly return or destroy any and all of your personal information in our possession or control, save for that which we are legally obliged to retain.

We will not retain your personal information longer than the period for which it was originally needed, unless we are required by law to do so, or you consent to us retaining such information for a longer period.

ZAR X undertakes never to sell or make your personal information available to any third party other than as provided for in this policy.

Any requests made by you under the data protection law applicable to us where you reside will be attended to by us in accordance with this Privacy Policy in these Terms and Conditions and the said data protection law.

This Website may include links to third-party websites, plug-ins and applications. Clicking on those links or enabling those connections may allow third parties to collect or share data about you. We do not control these third-party websites and are not responsible for their privacy statements. When you leave our Websites, we encourage you to read the privacy policy of every website or other site you visit. Whilst we will do all things reasonably necessary to protect your rights of privacy, we cannot guarantee or accept any liability whatsoever for unauthorised or unlawful disclosures of your personal information, whilst in our possession, made by third parties who are not subject to our control, unless such disclosure is as a result of our gross negligence.

This Website makes use of "cookies" to automatically collect information and data through the standard operation of the Internet servers. "Cookies" are small text files a website can use (and which we may use) to recognise repeat users, facilitate the user's on-going access to and use of the Website and allow a website to track usage behaviour and compile aggregate data that will allow the website operator to improve the functionality of the website and its content, and to display more focused advertising to a user by way of third party tools. The type of information collected by cookies is not used to personally identify you. If you do not want information collected through the use of cookies, there is a simple procedure in most browsers that allows you to deny or accept the cookie feature. Please note that cookies may be necessary to provide you with certain features available on our Website, and thus if you disable the cookies on your browser you may not be able to use those features, and your access to our Website will therefore be limited. If you do not disable "cookies", you are deemed to consent to our use of any personal information collected using those cookies.

ZAR X may, in its sole discretion, change any of these Terms and Conditions at any time. It is your responsibility to regularly check these Terms and Conditions and make sure that you are satisfied with the changes. Should you not be satisfied, you must not place any further orders on, or in any other way use, the Website.

Any such change will only apply to your use of this Website after the change is displayed on the Website. If you use the Website after such amended Terms and Conditions have been displayed on the Website, you will be deemed to have accepted such changes.

Electronic communications

When you visit the Website or send emails to us, you consent to receiving communications from us or any of our divisions or partners electronically in accordance with our the Privacy Policy as set out in these Terms and Conditions.

The contents of the Website, including any material, information, data, software, icons, text, graphics, lay-outs, images, sound clips, advertisements, video clips, trade names, logos, trademarks, designs and service marks which are displayed on or incorporated in this Website ("Website Content") are protected by law, including but not limited to copyright and trade mark law. The Website Content is the property of ZAR X, its advertisers and/or sponsors and/or is licensed to ZAR X.

You will not acquire any right, title or interest in or to the Website or the Website Content.

Any use, distribution or reproduction of the Website Content is prohibited unless expressly authorised in terms of these Terms and Conditions or otherwise provided for in law. To obtain permissions for the commercial use of any Website Content contact us.

Where any of the Website Content has been licensed to ZAR X or belongs to any third party, your rights of use will also be subject to any terms and conditions which that licensor or third party imposes from time to time and you agree to comply with such third-party terms and conditions.

The User's attention is drawn to the terms of section 4(2) of the Financial Markets Act, no 19 of 2012, wherein it states that it is an offence to behave in a manner which suggests or implies that there is some connection between a person and an exchange, where in fact no such connection exists.

ZAR X further reserves the right to withdraw any permission granted, whether in writing, verbally or tacitly, to link to the Website, if at any time it is deemed by ZAR X to be in the best interest of ZAR X to do so.

Complaints

The Website is not a forum to register a formal regulatory complaint. If the User has a specific complaint about the trading of a security, another User, or a ZAR X registered representative, the User should register its complaint with the appropriate regulatory authority.

ZAR X will endeavour to maintain the confidentiality of personal information the User provides in connection with the use of the Website and the Content thereof. Nonetheless, the User acknowledges and agrees that any such information sent via the Internet may not be protected and there can be no assurance that such information will remain confidential.

With the exception of personal information, any communication or material the User posts or transmits to ZAR X over the Internet is, and will be treated as, non-confidential and nonproprietary.

The User's posting or transmitting of any unlawful, libellous, defamatory, discriminatory, threatening, abusive, obscene, pornographic or profane material, or any material that could constitute or encourage conduct that would be considered a criminal offence or violation of any law, is strictly prohibited.

Further, the User acknowledges and agrees that, subject to applicable law, ZAR X may disclose the User's name and other personal and financial information about the User or User's accounts to its employees, representatives, officers, directors, agents and affiliates, or to any governmental or regulatory authority or self-regulatory organization, or to any third-party service provider, under the following circumstances:

In order to comply with applicable laws, rules, orders, subpoenas or requests for information by governmental or regulatory authorities or self-regulatory organizations, or

In order to satisfy any other purpose as described in any other agreement the User may have with ZAR X. For additional information regarding the confidentiality of personal information, please refer to ZAR X's Privacy Policy in these Terms and Conditions.

This Website may contain links or references to other websites ("Third Party Websites") which are outside of our control, including those of advertisers. These Terms and Conditions do not apply to those Third-Party Websites and ZAR X is not responsible for the practices and/or privacy policies of those Third-Party Websites or the "cookies" that those sites may use.

Notwithstanding the fact that the Website may refer to or provide links to Third Party Websites, your use of such Third-Party Websites is entirely at your own risk and we are not responsible for any loss, expense, claim or damage, whether direct, indirect or consequential, arising from your use of such Third-Party Websites or your reliance on any information contained thereon.

We will use reasonable endeavours to maintain the availability of the Website, except during scheduled maintenance periods, and are entitled to discontinue providing the Website or any part thereof with or without notice to you.

ZAR X may in its sole discretion terminate, suspend and modify this Website, with or without notice to you. You agree that ZAR X will not be liable to you in the event that it chooses to suspend, modify or terminate this Website other than for processing any instructions made by you prior to such time, to the extent possible.

If you fail to comply with your obligations under these Terms and Conditions, this may (in our sole discretion with or without notice to you) lead to a suspension and/or termination of your access to the Website without any prejudice to any claims for damages or otherwise that we may have against you.

ZAR X is entitled, for purposes of preventing suspected fraud and/or where it suspects that you are abusing the Website, to blacklist you on its database (including suspending or terminating your access to the Website), refuse to accept or process trades, and/or to cancel any trades, in whole or in part, on notice to you. At any time, you can choose to stop using the Website, with or without notice to ZAR X.

These Terms and Conditions and our relationship and/or any dispute arising from or in connection with these Terms and Conditions shall be governed and interpreted in accordance with the laws of the Republic of South Africa. Your continued use of the Website will constitute your consent and submission to the jurisdiction of the South African courts regarding all proceedings, transactions, applications or the like instituted by either party against the other, arising from any of these Terms and Conditions.

In the event of any dispute arising between you and ZAR X, you hereby consent to the nonexclusive jurisdiction of a High Court of the Republic of South Africa notwithstanding that the quantum in the action or proceedings may otherwise fall below the monetary jurisdiction of that court.

Nothing in this clause or the Terms and Conditions limits your right to approach any court, tribunal or forum of competent jurisdiction in terms of the CPA.

For the purposes of ECTA, ZAR X's information is as follows, which should be read in conjunction with the Terms and Conditions contained on the Website:

• Full name: ZAR X (Pty) Ltd, a private company registered in South Africa with registration number 2015/089692/07
• Main business: Exchange licensed in terms of the FMA
• Physical address for receipt of legal service (also postal and street address): 22 Kildoon Road, Bryanston, Johannesburg
• Office bearers: Etienne Nel, Geoff Cook
• Phone number: +27 10 442 5500
• Email address: info@zarx.co.za
• Promotion of Access to Information Act (PAIA): The manual published in terms of section 51 of the Promotion of Access to Information Act 2000 may be downloaded from here.

We aim to keep our Website safe for everyone to use, and data security is of the utmost importance. If you have discovered a security vulnerability in our Website or Service, we encourage you to contact us and disclose it to us in a responsible manner.

When security vulnerabilities are reported to us in compliance with this policy, ZAR X will validate and fix such vulnerabilities as soon as reasonably possible, in line with our commitment to the privacy, safety and security of users. We will not take legal action against you or terminate your access to the Service if you discover and report security vulnerabilities responsibly in compliance with this policy. ZAR X reserves all of its legal rights in the event of any noncompliance with this policy.

Reporting a security vulnerability

If you think that you have found a security vulnerability in our Website or Service, please contact us immediately via email at info@zarx.co.za or telephone on +27 10 442 5500.

Copyright © July 2016 ZAR X (Pty) Ltd.

ZAR X (Pty) Ltd. has used all reasonable efforts to ensure that the information contained in this publication is correct but shall not be liable for decisions made in reliance on it.

ZAR X is a registered trade mark of ZAR X (Pty) Ltd.

Disclaimer

THE WEBSITE, INCLUDING THE CONTENT, IS PROVIDED "AS IS." ZAR X, ITS LICENSORS, AND THEIR OFFICERS, DIRECTORS, AND EMPLOYEES (COLLECTIVELY, THE "ZAR X PARTIES"), MAKE NO REPRESENTATIONS, WARRANTIES OR GUARANTEES OF ANY KIND WHATSOEVER, EXPRESS OR IMPLIED, INCLUDING WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, TITLE OR NON-INFRINGEMENT, AS TO THE WEBSITE OR ANY PORTION THEREOF OR RELATING TO ANY BREACH OF SECURITY ASSOCIATED WITH THE TRANSMISSION OF SENSITIVE INFORMATION THROUGH THE WEBSITE OR ANY LINKED WEBSITE, UNLESS SUCH REPRESENTATIONS, WARRANTIES AND GUARANTEES ARE NOT LEGALLY EXCLUDABLE.

UNDER NO CIRCUMSTANCES SHALL THE ZAR X PARTIES HAVE ANY LIABILITY TO THE USER OR TO ANY OTHER PERSON FOR THE QUALITY, ACCURACY, TIMELINESS, CONTINUED AVAILABILITY OR COMPLETENESS OF THE WEBSITE OR ANY PORTION THEREOF.

IN NO EVENT WILL THE ZAR X PARTIES BE LIABLE FOR ANY INDIRECT, SPECIAL, INCIDENTAL, CONSEQUENTIAL, PUNITIVE OR EXEMPLARY DAMAGES THAT THE USER OR ANY OTHER PERSON MAY INCUR IN CONNECTION WITH USER'S ABILITY OR INABILITY TO USE THE WEBSITE, OR ANY PORTION THEREOF, OR INTERRUPTION OF SERVICE, INCLUDING BUT NOT LIMITED TO, DELAYS OR INTERRUPTION OF INTERNET OR NETWORK SERVICES NOT OPERATED OR CONTROLLED BY THE ZAR X PARTIES, OR OMISSIONS OR INACCURACIES IN SUCH INFORMATION OR MATERIALS, EVEN IF ADVISED OF THE POSSIBILITY OF SUCH DAMAGES INCLUDING, WITHOUT LIMITATION, LOST PROFITS AND LOSS OF REVENUE, EVEN IF ANY OF THE ZAR X PARTIES HAVE BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES.

NOTHING IN THESE TERMS AND CONDITIONS EXCLUDES OR RESTRICTS ZAR X'S LIABILITY IN RESPECT OF A BREACH BY ZAR X OF ANY DUTY OR LIABILITY IT MAY HAVE TO THE USER UNDER APPLICABLE REGULATIONS OR LAWS; FRAUD, WILFUL NEGLECT OR FOR DEATH OR PERSONAL INJURY CAUSED BY ZAR X'S NEGLIGENCE; OR ANY OTHER LIABILITY THAT CANNOT LAWFULLY BE EXCLUDED. IT IS THE USER'S RESPONSIBILITY TO ENSURE THAT THE USER MAINTAINS ADEQUATE INSURANCE TO COVER ANY DAMAGES, LOSSES, COSTS OR EXPENSES THE USER MIGHT SUFFER IN THE EVENT OF ANY FAILURE OR UNAVAILABILITY OF THE WEBSITE.

The User agrees to indemnify, defend and hold harmless ZAR X from and against any and all losses, liabilities, judgments, fines, settlements, damages, costs and expenses (including attorneys' fees) resulting from or arising out of any suits, actions, claims, demands, investigations, hearings or similar proceedings (collectively, "Proceedings") to the extent such Proceedings are based on or result from:

• The User's inability to use the Website or any portion thereof, or any data, information,
• The User's breach or violation of any term or condition contained herein,
• The User's violation of any laws or regulations or any other person's rights, including but not limited to, infringement of any intellectual property, proprietary or privacy right of any third-party.

These Terms and Conditions were last updated on 31 May 2018 and are effectively immediately.