TERMS AND CONDITIONS OF USE OF SERVICE

Unless the context otherwise requires, the following expressions have the following meanings:

"Agreement" means this Terms and Conditions of Use of Service (including all attachment(s) and usage guidelines that may be published from time to time by JOX) and any amendments and supplements thereto as may be made from time to time by JOX in accordance with Clause 4.

"GST" means the goods and services tax imposed by the Republic of Singapore.

"Intellectual Property Rights" includes any patent, copyright, registered design, trade name, trade mark, service mark, logo, trade dress or other industrial or intellectual property right and applications for any of the foregoing.

"Loss" includes all losses, liabilities, judgements, suits, actions, proceedings, claims, damages, costs (including legal fees on a full indemnity basis) and includes without limitation claims made by third parties and claims for defamation, infringement of Intellectual Property Rights, death, bodily injury, wrongful use of computers, unauthorised or illegal access to computers (including but not limited to hacking), property damage or pecuniary losses howsoever arising.

"Parties" means JOX and the Viewer and "Party" shall mean any one of them.

"Registration Form" means the form that has to be completed by the Viewer in order to register for the use of the Service.

"Registration Information" means any and all information provided by the Viewer in the Registration Form.

"Japanese Yen" and "Yen" mean the lawful currency of Japan.

"Users" shall mean the persons who use the Service (including the Viewer) and "User" shall mean any one of them.

"Website" means the web site operated and maintained by JOX on the Internet located at the domain name j-oilexchange.com or any replacement or successor domain name.

To induce JOX to accept its registration, the Viewer hereby represents and warrants that:

(a) it is a company duly organised and validly existing under the laws of the country / state where it are incorporated / organized;

(b) upon successful registration, it shall use the Service solely on its own use , and not on the behalf of any third party;

unless JOX waives such representations and warranties.

In consideration for the Service, the Viewer agrees to:

(a) provide true, current, complete, and accurate information about the Viewer as prompted to do so by the Registration Form;

(b) maintain and update such Registration Information as required to keep it true, current, complete and accurate;

(c) be solely responsible for the necessary set-up, configuration or compatibility of its hardware, equipment and software for access to and use of the Service (including such changes as may be made to the Service by JOX from time to time);

(d) comply with all the rules of any network or connection provider through which the Viewer accesses the Service;

(e) pay any charges, fees or the like associated with such access to the Service; and

(f) be solely responsible for all information retrieved, stored and transmitted through, from or to the Service by it.

The Viewer shall promptly pay JOX the charges and fees as set out below:

(a) Basic yearly registration fees includes single log-in ID : 700,000Yen per annum (the "Basic yearly registration fees");

(b) Additional log-in ID fees (ie. second log-in ID and more): 200,000Yen per log-in ID per annum (Additional log-in ID fees);

(c) Basic yearly registration fees and Additional log-in ID fees shall be pro-rated for mid-year registration and mid-year withdrawal as follows:

(unit : Yen)

Single ID	Entry Month	Withdrawal Month (refund amount)	Second ID	Entry Month	Withdrawal Month (refund amount)
January	700,000	550,000	January	200,000	150,000
February	650,000	500,000	February	200,000	150,000
March	600,000	450,000	March	200,000	150,000
April	550,000	400,000	April	150,000	100,000
May	500,000	350,000	May	150,000	100,000
June	450,000	300,000	June	150,000	100,000
July	400,000	250,000	July	100,000	50,000
August	350,000	200,000	August	100,000	50,000
September	300,000	150,000	September	100,000	50,000
October	250,000	100,000	October	50,000	0
November	200,000	50,000	November	50,000	0
December	150,000	0	December	50,000	0

The Fees shall be payable within thirty (30) days from the date of the invoice(s) or such other date as may be agreed by the Parties.

5.1

JOX reserves the right to change or modify all or any part of this Agreement from time to time. Upon any change in this Agreement, JOX will notify the Viewer either by:

(a) posting the changes as a start-up screen prior to the Viewer's subsequent use of the Service;
(b) e-mail; or
(c) such other reasonable mode of notification that it may in its sole discretion choose to adopt.

Modifications to Service

JOX reserves the right (but shall not be obliged), if it deems in its sole discretion appropriate, to modify, change, vary, perform maintenance services, update, upgrade or discontinue the Service, temporarily or permanently, at any time, including but not limited to the removal of content or postings and the blocking or filtering of data, without notice to the Viewer. The Viewer acknowledges and agrees that JOX shall not be liable to the Viewer or any third party for any modification or discontinuance of the Service howsoever caused.

The Viewer shall select a username and password and receive an account designation upon completion of the registration process. The Viewer agrees to:

(a) be solely responsible for and take all measures and steps to maintain and protect the confidentiality of its password (including but not limited to changing its password from time to time);
(b) take all measures and steps to prevent any unauthorised use of its account;
(c) taking all measures and steps to prevent publication of its password;
(d) be solely responsible for any and all activities which occur and/or any and all messages, information and other materials furnished, created and/or posted under its account;
(e) immediately notify JOX if it becomes aware of or has reason to believe that there is any unauthorised use of its account or any other breach of security, to co-operate with JOX in all such security investigations and to indemnify, defend and hold JOX harmless for any Loss arising from such use or misuse;
(f) comply with all notices, directions, instructions and any usage guidelines in respect of the use of the Service that may be published from time to time by JOX; and
(g) obtain the prior written consent of JOX if it reasonably contemplates using the Service for any activity that would or is likely to generate a change in traffic in excess of its normal usage.

The Viewer agrees that:

(a) JOX permits access to Content that is protected by Intellectual Property Rights;
(b) these Intellectual Property Rights are valid and protected in all media and technologies existing now or later developed;
(c) it is only permitted to use this Content in furtherance of its participation under this Agreement unless expressly authorised in writing to do otherwise by JOX;
(d) except as explicitly provided otherwise, this Agreement and applicable copyright, trademark and other laws govern the Viewer's use of the Content;
(e) this Agreement or access to the Service does not transfer any right, title or interest in the Service or the Content to the Viewer; and
(f) it is prohibited from copying, reproducing, re-transmitting, offering, distributing, publishing, commercially exploiting, creating derivative works from this Content or otherwise transferring any material subject to any Intellectual Property Rights not belonging to the Viewer.

As JOX affords the Viewer the privilege to use the Service (which includes setting up Discussion Forums and Message Boards and posting of content thereto), the Viewer shall adhere to the following conditions:

(a) The Viewer shall access the Service, and where so necessary, access the Service via its account, by using its issued username and password;
(b) The Viewer shall take all such measures and steps as may be necessary to protect its username and/or password and to prevent unauthorised use of its account and publication of its username or password;
(c) The Viewer shall not reveal or share with any third party its username and/or password;
(d) The Viewer shall not impersonate any person or entity or falsely state or otherwise misrepresent the Viewer's affiliation with any person or entity, including impersonating any employee, officer, agent, consultant, subsidiary, associate or affiliate of JOX;
(e) The Viewer shall comply with all relevant laws (including laws of the Viewer's country of incorporation), in particular laws relating to the the transmission of any content and export and import of technical information, goods, products and services to and from the Viewer's country through the Service;
(f) The Viewer shall be the only party responsible for the content and consequences of its data, messages and the like;
(g) The Viewer shall not interfere or disrupt other computer systems or networks connected to the Service;
(h) The Viewer shall not attempt to gain unauthorised access to other computer systems or networks connected to the Service;
(i) The Viewer shall comply with all requirements, regulations, policies and procedures of networks connected to the Service. The Viewer agrees not to use the Service to collect or harvest personal information, including, without limitation, financial information, about other Users;
(j) The Viewer shall not use any other User's information, personal or otherwise, for any commercial purpose (other than transactions or activities arising out of use of the Service) or to obtain direct financial gain (e.g. mass marketing);
(k) The Viewer shall not use the Service for chain letters, junk mail, "spamming", solicitations (commercial or non-commercial) or bulk communications of any kind including but not limited to distribution lists to any person who has not given specific permission to be included in such a list;
(l) The Viewer shall not upload or distribute in any way files that contain viruses, corrupted files, or any other similar software, programmes, macros or files that may damage the operation of another's computer;
(m) The Viewer shall not use the Service and/or Website for any unlawful or illegal purposes, including the offering, distribution or sending of any illegal material of any kind (including but not limited to illegal material in the form of text, graphics, video, programmes or audio and "pirated" versions of the same);
(n) The Viewer agrees not to use the Service to send, post, promote or transmit on any place on the Website, any message or material that is unlawful, harassing, libellous, defamatory, abusive, threatening, harmful, hateful, vulgar, obscene, profane, threatening, racially or ethnically offensive or otherwise as determined by JOX in its sole discretion to be objectionable. This prohibition includes material of any kind or nature that encourages conduct that could constitute a criminal offence, give rise to civil liability or otherwise violate any applicable law or regulation. JOX reserves the right to delete any such material from the Website;
(o) The Viewer shall not use any username of any kind which JOX may at any time reasonably determine to be inappropriate;
(p) The Viewer shall not interfere with another User's use and enjoyment of the Service;
(q) The Viewer shall not use the Service to engage in surveys, contests, or chain letters;
(r) The Viewer shall not use the Service for any commercial purpose other than envisaged under this Agreement or for soliciting other Users to join or use other competitive online services;
(s) The Viewer agrees that other than the communications and information which is maintained as private under Clause 6, all other communications and information are public and not private;
(t) The Viewer agrees that JOX retains the right to change or remove at any time, without notice, any name, subject heading, title or material found in any part of the Service. Notwithstanding this, the Viewer agrees that JOX is under no obligation whatsoever to change or remove any name, subject heading, title or material that the Trader may find objectionable or offensive;
(u) The Viewer agrees that JOX retains the right to remove at any time, without notice, any message, posting or content for any reason. Notwithstanding this, the Viewer agrees that JOX is under no obligation whatsoever to delete any message, posting or content that the Viewer may find objectionable or offensive;
(v) The Viewer agrees that JOX may procure a licence or other permission to use or otherwise deal with any posted materials as described below for the purposes of providing the Service, operating and maintaining the Website and such other acts as may be necessary or expedient for JOX to discharge its obligations under this Agreement. The Viewer also agrees that the Viewer will not acquire any of those Intellectual Property Rights by uploading or downloading such materials;

(i) By submitting content, which shall include the Viewer's username, to the Website, the Viewer warrants that it is the lawful holder of any Intellectual Property Rights in the said content;
(ii) If the Viewer is not the lawful holder of the Intellectual Property Rights in the content it submits to the Website, the Viewer warrants that the true holder of the said Intellectual Property Rights has validly and irrevocably granted to the Viewer the right to deal with the same as envisaged under this Agreement; and
(iii) Subject to the foregoing sub-paragraphs, the owner of such content placed on the Website retains any and all Intellectual Property Rights that may exist in such content;

(w) The Viewer acknowledges and agrees that JOX neither endorses the contents of any User's communications nor assumes any responsibility for any threatening, libellous, obscene, harassing or offensive material contained therein, any infringement of third party Intellectual Property Rights arising therefrom or any crime facilitated thereby;
(x) In the event that the Viewer posts or makes accessible communications or materials which infringe the Intellectual Property Rights of any third party or violate any applicable local, state, national or international law or regulation, JOX shall have the right to terminate all the Viewer's accounts and right to use the Service and to refuse the Viewer's access to the Service with immediate effect without notice to the Viewer; and
(y) All correspondence should be addressed to JOX's "Designated Agent to Receive Notification of Claimed Infringement" at joxinfo@gj-platform.com. The Viewer may contact JOX with complaints regarding allegedly infringing or offensive posted material and JOX may investigate those complaints in its sole discretion. If the posted material is believed in good faith by JOX to violate any applicable laws, JOX shall have the right to remove or disable access to any such material and to notify the Viewer that the material has been blocked or removed.

JOX may, at its sole discretion, immediately terminate the Trader Viewer's access to the Service should the Viewer's conduct fail to conform to any of the provisions of this Clause 12.

JOX expressly disclaims all endorsements, representations and warranties of any kind, whether express or implied, including but not limited to the implied warranties of merchantability, satisfactory quality, fitness for a particular purpose, title and non-infringement as well as all warranties arising by usage of trade, course of dealing or course of performance.

The Parties agree that JOX shall not under any circumstances be liable to the Viewer for any Loss arising from or in connection with:

(a) any access, use or inability to access or use the Service or reliance on the contents provided through the Service;
(b) unauthorised access to, deletion or alteration of the Viewer's transmissions or data or failure of the Service to store the Viewer's transmissions;
(c) any system, server or connection failure, error, omission, interruption, delay in transmission, or computer virus;
(d) any use of or access to the external sites (including any Advertiser's sites) referred to in Clauses 8 and/or 9;
(e) the cost of procurement of substitute goods and services, goods or services purchased or obtained through the Service or any other transaction entered into through the Service; or
(f) the interruption, suspension or termination of Service, whether or not such interruption, suspension or termination was justified, negligent, intentional or inadvertent.

The Viewer agrees to (without prejudice to and in addition to any other remedy that may be available to JOX) indemnify and hold JOX, its parents, subsidiaries, affiliates, officers and employees, harmless from any Loss due to or arising out of:

(a) any breach of this Agreement by the Viewer;
(b) infringement by the Viewer (or other persons using the Viewer's account whether authorised or unauthorised) of any Intellectual Property Rights or any other rights of any person or entity; or
(c) any act or omission of the Viewer in the use of the Service and/or Website

except to the extent that the Loss arises out of the negligence or wilful default of JOX.

No Resale or Commercial Use of the Service

The Viewer agrees that its right to use the Service is personal to the Viewer. The Viewer agrees not to reproduce, duplicate, copy, sell, resell, exploit or otherwise deal with the Service (or any part thereof) for the benefit of any other party or access to the Service, without the prior written consent of JOX.

Combination & Set-off

The Viewer authorises JOX to and JOX may from time to time at its discretion at any time without any prior or subsequent notice to the Viewer combine, consolidate or merge all or any of the Viewer's accounts with, and liabilities and/or obligations to JOX and may set-off or transfer any sums payable or due to the Viewer from JOX under this Agreement or otherwise, in or towards settlement or discharge of any sums payable or due to JOX from the Viewer under this Agreement or any other agreement with JOX or otherwise.

In addition and without prejudice to Clause 18.1, JOX may terminate this Agreement with immediate effect and without notice for the following reasons:

(a) if the Viewer has breached any of the terms or conditions of this Agreement;
(b) if any monies payable by the Viewer are not paid by its due date;
(c) if the Viewer has at any time provided any false or incomplete information to JOX;
(d) if, arising out of any pronouncement by any governmental or regulatory authority, JOX is of the reasonable opinion that it is not feasible or in the public interest to continue providing the Service or access to the Website to the Viewer for any reason whatsoever;
(e) if the Viewer enters into any compromise or arrangement with its creditors or a receiver is validly appointed over the whole or part of the undertaking of the Viewer or proceedings are taken for the appointment of an administrator of or the winding up of the Viewer or the Viewer becomes insolvent or ceases to carry on business; or
(f) if in JOX's reasonable opinion, the Viewer has behaved unreasonably and in such a way that hinders JOX in the proper discharge of its obligations herein.

Should the Viewer object to any part of this Agreement or any subsequent modifications thereto or become dissatisfied with the Service in any way, without prejudice to any of its rights hereunder, the Viewer may immediately:

(a) terminate use of the Service; and
(b) notify JOX of such termination.

Without prejudice to any other rights or remedies of JOX, JOX may (but is under no obligation to) at any time and in its sole discretion, suspend the Service without incurring any liability to the Viewer or any third party for the suspension and for whatsoever reason including:

(a) where JOX, in its sole discretion suspects that the Viewer's account(s) has or have (as the case may be) been hacked or accessed by an unauthorised person or that the security of the Viewer's account(s) has been compromised in any way;
(b) where the Viewer fails to use the Service at least once during any three (3) month period of time; or
(c) where any monies (if any) payable by the Viewer for the Service have not been settled in full; or
(d) where any deposit (if any) or increase thereof required by JOX is not paid by the Viewer.

Warranties of the Viewer

The Viewer represents and warrants to JOX that:

(a) the Viewer (if a body corporate) has, under its constitutive documents, the capacity and power to enter into this Agreement; and
(b) the Viewer (if an individual) has at the date of this Agreement reached the age of at least twenty-one (21) years or such other relevant age of majority as determined by the law of his domicile and/or place of residence and if not, has obtained his parental consent to enter into this Agreement.

Force Majeure

JOX shall not be liable for any delay or default in its operation of the Website and/or Service under this Agreement caused by circumstances beyond its control including but not restricted to acts of God, acts of the public, enemy, decrees or restraints by governmental authorities, telecommunications, computer or utilities failure, strikes, war, riots, insurrections, civil commotion and other causes of such nature. In any of the events mentioned above, JOX shall for the duration of such event be relieved of any such obligation under this Agreement as is affected by the said event. PROVIDED that the provisions of this Agreement shall remain in force with regard to all other obligations under this Agreement which are not affected by such event. And PROVIDED further that the Parties shall resume their full obligations under this Agreement upon the cessation of such event.

Any dispute arising out of or in connection with this Agreement shall first be submitted to the Singapore Mediation Centre for mediation, and in that regard the Parties agree to abide by:

(a) the Singapore Mediation Centre's Mediation Procedure and the annexure(s) thereto, and that, inter alia, the mediation and the terms and process of mediation (including all chargeable fees) shall be governed by the said Mediation Procedure and the accompanying annexures; and
(b) any settlement and to effect the terms reached through such mediation.