Common use of Order of Transactions Clause in Contracts

Order of Transactions. 5.1. Transactions in the System are made on the basis of Orders placed by Users and in accordance with the conditions defined by the Parties based on the preliminary conditions of the paid alienation of rights for the Tools. In this, the Service, under no circumstances, is a party to Transactions. All Transactions are concluded between Users in the Service information mediation. 5.2. The service charges Users a commission when conducting Transactions. The sum of the commission is determined on the basis of Tariffs. 5.3. To place an Order, the User needs to replenish the Account with the amount needed for the Tools, specified in the Order to be placed and to fill the "Exchange" page depending on the Order type — a special form provided for each type of Order specified in section 6 of the Agreement. 5.4. The User's Order is registered in the System after checking the availability of a sufficient number of Tools in the Account. The Service controls whether Users have the possibility to enter into Transactions and, thus, it increases the trust of Users to each other and reduces the risk of User’s obligations non-execution under the Transactions. The System does not register an Order if the amount of Tools at the Account is not enough to execute the Transaction on the placed Order. 5.5. The User may not place more than 20 (twenty) Orders within one day. The System does not register Orders in excess of the specified number. 5.6. The Order can be withdrawn by the User until its full execution. 5.7. The published Order is available to all Users until its execution or until the revocation of this Order. The published Order is the User’s Offer to conclude a Transaction. 5.8. A transaction on a placed Order is concluded if the System registers a counter Order placed by another User. Counter Orders are Orders with the same type of exchange and the exchange Rate, but the opposite direction. 5.9. At the same time, registration of counter Orders by the System is recognized by Users as the acceptance of Orders. The Order is recognized as executed from the moment the System registered the counter Order. 5.10. The Order can be executed partly. The System will place a new Order in the amount of the outstanding balance on the originally placed Order. 5.11. Execution of the Transaction takes place by transferring Tools specified in counter Orders to the Account. The transfer of the specified Tools is made automatically by the System. In this case, the actions of the System are considered to be committed on behalf of the Users. 5.12. User’s actions on the publication of Orders, revocation of Orders, conclusion of Transactions and execution of Transactions is displayed in the User's Personal account. 5.13. Information about the Transactions made on Orders is available to all Users on the Website during the term determined by the Service.