Nowory's Trading Policies

These terms and conditions are valid with effect from 5 th September 2025

This Trading Policy governs access and use of the Services (as defined in Terms of Use), procedures regarding the manner in which You can use the Crypto Custody Wallet, Fiat Currency, and Crypto being bought and sold by You on the mobile application known as “Nowory”, collectively referred to as “Platform”. The Services (as defined in Terms of Use) are being provided by and the Platform is operated by Nowory Labs Private Limited, an Indian company having corporate identification number U46510UP2025PTC214834 82, which offers various products and services to certain users through mobile applications available on the Google Play Store and the Apple App Store.

THIS POLICY SHALL BE CONSTRUED AS A PART OF THE TERMS OF USE ACCEPTED BY YOU BEFORE REGISTERING ON THE PLATFORM AND AVAILING THE SERVICES BEING OFFERED BY THE COMPANY AND CONSTITUTES A LEGAL AGREEMENT BETWEEN YOU, AS THE USER OF THE PLATFORM, AND COMPANY, AS THE OPERATOR OF THE PLATFORM AND PROVIDER OF SERVICES. BY REGISTERING YOUR ACCOUNT WITH US AND BY AVAILING THE COMPANY’S SERVICES, YOU ARE HEREBY PROVIDING US YOUR EXPRESS CONSENT TO ABIDE BY THIS POLICY.

IF YOU DO NOT AGREE WITH THIS POLICY, PLEASE DO NOT PROCEED FURTHER TO USE/ ACCESS THIS PLATFORM/ SERVICES. ALSO, IN THE ABSENCE OF AN ACCEPTANCE OF THE POLICY BY YOU, WE WILL NOT BE ABLE TO PROVIDE THE SERVICES TO YOU.

YOUR USE OF THE SERVICES WILL BE GOVERNED BY THIS POLICY IN ADDITION TO THE TERMS OF USE AND PRIVACY POLICY AS APPLICABLE TO YOU.

We reserve the right to change, add, remove or modify the Service, this Policy, or any content or part thereof, at any time, with or without notice, in our sole discretion. You shall regularly and periodically check this Policy, Terms of Use, Privacy Policy and AML Policy including before you make any transaction on the Platform. We shall have no liability or responsibility whatsoever due to any such changes, additions, removals or modifications.

“Specified Disclaimer: Crypto products are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions.”

1. User’s Crypto and Fiat Currency

At the outset, for the purpose of buying or selling of Crypto, (a) You shall use only Indian Rupees to enter into such buy or sell trades where Cryptos are bought or sold with a fiat currency, and for such purpose You undertake to keep only that much Indian Rupees in Your User Account which is required by You to execute immediate trades, and (b) provided this facility is provided by the Company, You shall keep (for the purpose of selling Cryptos on the Platform) and receive (as a result of purchase of Cryptos on the Platform) Cryptos (which You own and control in the territory of India in accordance with the residency status as per the Terms of Use) in the Crypto custody services provided by the either through itself or through its technology partners / subcontractors. The COMPANY may in its sole discretion shall permit or suspend, or disable any inflow and/or outflow of Indian Rupees and/or Cryptos as part of its Services from Your Nowory’s Crypto Custody Wallet and the verified User Account registered with The COMPANY, subject to Your compliance with applicable law.

Upon activation of Your User Account on the Platform and till such time your User Account on the Platform is active and valid, We will provide You with a facility to store Cryptos purchased by You on the Platform (“Nowory’s Crypto Custody Wallet). The COMPANY, either itself or through its technology partners/subcontractors may provide such a storage facility. The Nowory’s Crypto Custody Wallet will enable you to buy or sell Crypto. We will provide you the details on Your User Account of the Cryptos purchased or sold by you or standing in your credit.
As to between the COMPANY and the User, it is the User who is the possessor and owner of such User’s Crypto in the Nowory’s Crypto Custody Wallet, and title of the User’s Crypto shall be with the respective User. User is the sole person authorized to transfer the Crypto. All transactions of debit (selling Crypto) and credit (buying Crypto) are executed by you directly, and the COMPANY merely enables the transaction with the help of technology and other value-added services (i.e., custodian service, Nowory’s Crypto Custody Wallet service, Assured Quantity services, etc) for ease of transaction. It is clarified for abundant clarity that there is no transfer of title or possession that takes place between the User and the COMPANY. Any transfer is always between the User and the counterparty on the third-party Crypto exchange. You hereby authorize Us to deploy the Cryptos in Your Nowory’s Crypto Custody Wallet for validation with established third-party validators, until such time You wish to withdraw/sell such Cryptos, as permitted by Us. You further agree that any earnings/income from the above-mentioned deployment belong to Us. We will use commercially reasonable efforts and industry standard controls and measures to ensure the safety of your Cryptos while the same is deployed for validation as mentioned herein.
A User can purchase or sell Crypto in exchange of fiat currency i.e. INR (Indian Rupee) using the Platform. In the event of a purchase, Crypto is credited to the Nowory’s Crypto Custody Wallet and accounted as credit in your User Account. In the event of a sale, Crypto is debited from the Nowory’s Crypto Custody Wallet and accounted as a debit in Your User Account. You are not entitled to the payment of any interest on, or benefit that accrues in relation to, the Crypto held in the Nowory’s Crypto Custody Wallet.
You are not permitted to transfer, store, or receive any Crypto not supported by the COMPANY. You acknowledge that the COMPANY shall not be liable for any losses suffered by You in connection with your attempt to transfer, store, or receive Cryptos in contravention of this Clause, Policy, and /or the Terms of Use.
You agree that you shall not use the Crypto account for you in Nowory’s Crypto Custody Wallet to buy/sell/transfer/trade any goods, services, or products other than for availing Services through the Platform.
In the event the option is made available to You to transfer your Cryptos accounted for You in your Nowory’s Crypto Custody Wallet to any external Crypto Custody Wallet, You hereby agree that You shall not transfer/transmit the Crypto accounted for you from Nowory’s Crypto Custody Wallet to any other Crypto wallet belonging to a person resident outside India. In the event the option is made available to You to receive Cryptos from any external Crypto wallet to the Nowory’s Crypto Custody Wallet (and get accounted/credited in Your User Account), You hereby agree that such Cryptos shall not be received from a person resident outside India.
Source of Cryptos exchanged/credited/debited by You on the Platform is not known to the COMPANY/ Platform, and You hereby agree to ensure that it always comes from legitimate sources within India. You are required to notify the COMPANY immediately of any unauthorized or illegal use of Your User Account.
In the event that any Cryptos are erroneously credited in the User Account of the User or, if and when permitted, in the Nowory’s Crypto Custody Wallet, the User is bound to report the same and to arrange to refund or transfer it. The failure to do so would amount to a material breach and entitle the Platform to additional rights and remedies under applicable laws.
Deposit in INR: By transferring Indian Rupees (INR) from your own bank account into your User Account. The COMPANY, via the Platform, will arrange for such INR deposits to be converted into USDT at the prevailing conversion rate, subject to any delays in the relevant banking channels, payment gateways, and/or other legal impediments.
Deposit in Crypto: By transferring USDT directly from your own external wallet to your User Account.

2. Terms for buying or selling of Cryptos

Instant Orders

You have the option to place buy/sell orders using instant orders. In an instant order, you choose to immediately buy or sell based on the price displayed on the Platform at the time you place the order (“Instant Order”).
You authorize the COMPANY to execute the Instant Orders in the most efficient manner that it deems fit in accordance with the terms of third-party Crypto exchanges on which the COMPANY places Your Orders on your behalf, on Your specific instructions as mentioned in Clause 2.2 and 2.3 below

Assured Quantity Services for Instant Orders

COMPANY may provide the User with the value-added service of Assured Quantity Service. Under this service, COMPANY assures You of the quantity and price provided on the Platform for Instant Orders, irrespective of the market deviation, in exchange for a service fee.
Parties specifically agree that the COMPANY is not a representative agent of the User but rather executes specific Crypto transactions on the instructions of the User for the price confirmed by the User.
The COMPANY aggregates and provides the last traded price of Crypto on various third-party Crypto exchanges/’s and thereby enables buying/selling of Cryptos for and on the specific instructions of its Users. The User is provided with the estimation of Cryptos to be bought/sold in exchange/’s for their Indian Rupee (INR) balance.
The User gives specific instructions to the COMPANY for the quantity of Cryptos to be bought/sold through the platform. The COMPANY undertakes trades on the third-party Crypto exchanges/’s on the instructions of the User to close trades of a specific quantity of Crypto. The COMPANY provides the price for a specific quantity of Crypto based on various factors like high volatility and fluctuations in the Crypto market, exchange fees, fraction of a Crypto available for transaction on different Crypto exchanges/’s etc. The User is aware that the specific price shown on the Platform is based on algorithms which may change on execution of trade on third-party Crypto-exchanges/’s. The details of the actual execution of the transaction will be provided in the Contract Note issued by the COMPANY to the User.
The User hereby authorises COMPANY to execute multiple interrelated trades and transaction legs on third-party Crypto exchanges, whether in India or otherwise, as well as rounding off the quantity to be transacted as per the third-party Crypto exchanges’ guidelines, to achieve the assured quantity. The User further authorises COMPANY to provide the assured quantity and retain/reimburse any excess quantity of Crypto or INR as a service fee for the Assured Quantity Service. Conversely, COMPANY shall be liable to make good to the User any shortfall quantity of Crypto or INR on account of any market deviation or for any factor as discussed in Clause 2.2.4.
You consent to COMPANY absorbing any negative deviation and retaining/reimbursing any positive deviation or price variation under this Assured Quantity Service.
The Contract Note issued by the COMPANY to You will provide the details of the transactions executed under Your instructions. You understand that the Contract Note, along with the USDT and Crypto balances in Your User Account, shall constitute the official record and ledger maintained by the COMPANY regarding Your transaction history. Such record shall also serve as Your express authorization for the Assured Quantity Services and for the retention or reimbursement of any excess quantity as service fees, if applicable.

Execution of Orders On the Platform

The User understands that the COMPANY undertakes trades on the third-party Crypto exchanges on the instructions of the User to close trades of the specific quantity of Crypto decided by the User.
Parties specifically agree that the COMPANY is not a representative agent of the User but rather executes specific Crypto transactions on the instructions of the User for the price confirmed by the User.
You consent to COMPANY absorbing any negative deviation and/ or retaining or refunding (at the sole discretion of COMPANY) to the User, any positive deviation or price variation in executing the Orders. The Contract Note issued by COMPANY to You will provide the details of the transactions executed under Your instructions. You understand that the Contract Note, Your USDT Balance, and other Crypto balances in Your User Account provide details of record and ledger available with the COMPANY regarding the transaction history and retention of excess quantity as service fees/refund of the excess quantity price to the User, if applicable.
You must ensure the availability of a sufficient balance of Cryptos in the credit in your User Account before executing any transaction from the Nowory’s Crypto Custody Wallet.
In case of any dispute relating to the time of reporting and/ or transaction/s made on Nowory’s Crypto Custody Wallet or any other matter in relation to the said Nowory’s Crypto Custody Wallet, we reserve the right to ascertain the time and/ or the authenticity of the disputed transaction.
In seeking to fulfill the completion of a single trade by a User (i.e., a buy or a sell order), at times COMPANY may have to execute multiple interrelated trades (either ‘fiat currency to Crypto’ or ‘Crypto to Crypto’) on different third-party Crypto exchanges. The User further authorises COMPANY to purchase and convert one Crypto into another Crypto on third-party Crypto exchanges to execute a transaction placed by the User on the Platform. All purchases of Crypto used for exchange/conversion for the purchase of a determined quantity of Crypto, as instructed by the User, shall be deemed to be carried out by COMPANY on behalf of the User.
Custody Wallet or any other service offered by us or any part thereof without any notice and may limit or suspend your use of one or more Services at any time, in our sole discretion. The COMPANY may delay transactions if we believe the transaction is suspicious, may involve fraud or misconduct, violates applicable laws, violates the terms of this Policy and/ or the Terms of Use, or is otherwise required, in our sole and absolute discretion. You understand that the COMPANY/ Platform shall have no liability or responsibility for such termination/suspension or any losses arising therefrom.
Sale and/ or purchase transactions initiated by You on The Platform are final, irreversible, nonrefundable, and non-cancellable. Once a sale/ purchase and/ or any other transaction, act, or omission is initiated by You on the Platform, the said transaction, act, or omission is absolute and unconditional. You cannot seek or claim or demand a refund or reversal for any reason whatsoever, nor can it be cancelled, modified, or reversed by Us/ anyone else upon Your/ third-party request.
By agreeing to this Policy and the Terms of Use, Users authorise the COMPANY to incur reasonable expenditures on behalf of Users in connection with fulfilling their trades. While making payments to third-party Crypto exchanges in relation to execution of the trades, the COMPANY is acting purely on the instructions of Users. The payments made by the COMPANY to such third-party Crypto exchanges are on the instruction of Users and are in connection with the fulfilment of the Users’ trades on the Platform. Details of payment made by the COMPANY to third parties on behalf of Users may be made available to Users in the Contract Note issued by the COMPANY with respect to each trade.
For the sake of abundant clarity, it is reiterated that the COMPANY undertakes buying and selling of Cryptos on third-party Crypto exchanges on the instructions of Users only. No User trades are fulfilled from the COMPANY’s existing inventory of Cryptos.
By agreeing to this Policy and Terms of Use, Users hereby authorize the COMPANY to enter into agreements or arrangements with third-party service providers for Crypto custodial services and ledger services.
In case of transactions suspected to be of fraudulent nature or upon receipt of any complaints from concerned banks/payment gateways / regulatory authorities, We may block the User’s’ COMPANY Account and the Nowory’s Crypto Custody Wallet/fiat currency balances to the account of such User and any amounts contained therein till such time as the enquiry is completed and take appropriate steps thereafter.
You authorize the COMPANY to hold Crypto in the Nowory’s Crypto Custody Wallet on behalf of You in order to undertake transactions quickly and seamlessly. You shall have the authority to instruct the COMPANY for undertaking transactions with the Cry no pto held in the COMPANY's Crypto Custody Wallet.
The COMPANY is acting on the specific instructions of the User by executing specific Crypto transactions for the price specified by the User and is not a general or representative agent of the User.
The COMPANY facilitates the transaction with the support of technology and value-added services (only for Nowory). No transfer of title is occasioned by the COMPANY. Thus, it shall not be liable for the acts of the User under any laws, including the tax laws such as GST laws and Income Tax law. No express or implied agency is created between the parties except to receive the payment of users and to hold in trust.

3. Severability and Exclusion

We have taken every effort to ensure that this Policy adheres with the applicable laws. The invalidity or unenforceability of any part of this Policy shall not prejudice or affect the validity or enforceability of the remainder of this Policy. If any provision of this Policy is found to be invalid or unenforceable, such provision shall be deemed to be severed from this Policy and the remainder of this Policy shall remain in force.

4. Taxes

All purchases of Crypto shall be subject to withholding of tax deducted at source (TDS) as per the Income Tax Act 1961 (Act) and circular and guidelines or any other applicable taxes as issued by the authorities thereunder. The TDS will be deducted by the COMPANY in accordance with the updated prescribed TDS rate as communicated from time to time on the Platform. This tax shall be deducted before the proceeds of the sale of Crypto are credited to the User Account. The Users will be provided TDS certificates in respect of such tax deductions based on the Permanent Account Number (“PAN”) details provided by the User. The User shall be responsible for payment of any other applicable tax, including but not limited to, income tax, gift tax, value-added tax, goods and services tax, etc., in respect of the realization of consideration from the sale of Crypto.

In case of transactions in Clause 2.2.5, TDS shall be deducted on each transaction undertaken to fulfill the Limit Orders and Instant Orders. The User hereby agrees to the deduction of TDS as communicated by the COMPANY on the Platform.

We reserve the right to deduct withholding tax under the applicable provision of the Indian Income- tax Act, 1961, on any amounts that become due, payable, or paid to you. In case we believe that any such withholding tax is applicable, you agree that we can deduct and deposit the tax and/ or any interest/ penalty with the Government treasury and debit the amount from earnings from Crypto. You also agree to remit to us on demand any additional funds if required to discharge any such liability in relation to rewards in kind.

Any direct or indirect tax, including GST, TDS, TCS, as applicable under the laws of the applicable jurisdiction, shall be collected by the Company.

5. System Error / Glitch Funds – Legal Clause

Any funds, assets, balances, credits, rewards, or profits that are credited, generated, displayed, or made available to a User’s account as a result of any system error, technical malfunction, bug, glitch, latency issue, synchronization failure, calculation error, or any other unintended system behavior shall remain the sole and exclusive property of the Exchange.
Such erroneous credits shall not constitute valid funds, lawful earnings, or legitimate profits of the User, regardless of whether the User has viewed, accessed, traded, transferred, or withdrawn such amounts.
The Exchange reserves the absolute right, at its sole discretion and without prior notice, to reverse, cancel, or void any transaction, trade, order, or position executed using such erroneous funds restrict, suspend, or terminate the User’s account in cases of misuse, abuse, or intentional exploitation of such system errors.
Any attempt by a User to knowingly exploit, manipulate, or benefit from a system error, including repeated or automated use of such erroneous funds, shall be deemed a material breach of this Agreement and may result in permanent account suspension, forfeiture of funds, and further legal action as permitted under applicable law.