Why is CoinJar novating my contract?
We noticed upon verifying your ID that your country of residence differs to the country you originally selected on sign-up.
As a result, when you previously accepted our Terms of Service, Privacy Policy and other terms, you may have contracted with a non-local CoinJar entity.
To ensure that we can provide our services to you and best support you going forward, we will need to novate your contract to our local European entity, CoinJar Europe Limited.
What is a Novation?
A novation essentially transfers a party’s rights and obligations contained within a contract to another third party. When a contract is novated, the new party assumes all legal responsibilities.
For impacted users, your contract with CoinJar will be transferred from our Australian entity (CoinJar Australia Pty Ltd or CoinJar Pty Ltd) to our European subsidiary (CoinJar Europe Limited) so that we can service you locally. Nothing else will change, and you will be able to receive our same services without any disruption.
By clicking ‘Accept’ to the previous prompt, you consent to the novation and thereby agree that:
• You release CoinJar Australia Pty Ltd and/or CoinJar Pty Ltd from all obligations and liabilities under the contract;
• You accept CoinJar Europe Limited as the new contracting party in place of CoinJar Australia Pty Ltd and/or CoinJar Pty Ltd; and
• You agree to continue to be bound by the contract as if CoinJar Europe Limited were named in it from the beginning.
When will the novation be effective?
For impacted users, the novation will be effective from the date you click “Accept” to the previous prompt to novate your agreement.
What do I have to do?
Nothing. If you consent to the novation by clicking ‘Accept’ to the previous prompt, you will proceed to the next screen and will be able to start trading without any disruption.
If you choose not to agree to the novation of your contract, you will not proceed to the next screen and your contract will remain with our Australian entity. Unfortunately that means you will not be able to access CoinJar’s services – but don’t worry, if you change your mind later, we’d be happy to have you back by onboarding with our European entity.