These Terms of Service contain an Arbitration provision in Section 21 (See Section 21 Conflict Resolution below) which, if applicable to you, will, with limited exception, require you to submit disputes you have against FORTIS BANK to binding and final arbitration. THIS INCLUDES WAIVING YOUR RIGHT TO A JURY TRIAL. You will only be permitted to pursue claims against FORTIS BANK on an individual basis, not as a plaintiff or class member in any class or representative action or proceeding; you will only be permitted to seek relief (including monetary, injunctive, and declaratory relief) on an individual basis.


Below are the terms of service (“TOS” or “Terms”) between you (hereinafter “Client”) and FORTIS BANK (hereinafter “FORTIS BANK”) for Key Agent services (the “Services”). These TOS should be read along with the Unchained TOS, as displayed on the Unchained Site (https://unchained.com/terms-of-service).

By creating an Unchained Vault which incorporates a public key held by FORTIS BANK, you are agreeing to be bound by the below TOS:

1. DEFINITIONS

Any terms not defined in these Terms shall have the meaning ascribed to them in the Unchained Terms of Services (https://unchained.com/terms-of-service).

“Business Day”: a day other than a Saturday, Sunday, federal holidays in the United States (5 U.S.C. § 6103, as amended), state holidays in the State of Colorado (Colorado Revised Statute 2023, Title 6, 6-1-102), or banking holidays as published by the Federal Reserve (https://www.federalreserve.gov/aboutthefed/k8.htm).

“Charges”: any fees payable by Client for the Services. The amount of the Charges are displayed on the Unchained Site (https://unchained.com/terms-of-service) and are collected through the Unchained Site.

“Commencement Date”: the date of Vault creation, as requested by the Client through the Unchained Site.

“Client”: the legal titleholder of the Vault to which the Services are provided, such title being as reflected on the Unchained Site. Notwithstanding the foregoing, if the Services are provided to a Vault which contains bitcoin belonging to an Individual Retirement Account qualified under sections 408 or 408A of the Internal Revenue Code (an “IRA”), Client is the equitable titleholder of the IRA which has been delegated key control by the IRA custodian legal titleholder, as reflected on the Unchained Site (see link to Unchained’s TOS above).

“Service Term”: the term defined in Section 2.

“Service Activation Requirements”: the requirements to be satisfied by the Client as a condition to provision of the Services by FORTIS BANK, as more particularly described in Section 4.1.

“Services”: the Key Agent service to be provided to Client by FORTIS BANK under these Terms, as more particularly described in Section 4.

2. TERM

The term of the Services shall commence on the Commencement Date and shall continue for so long as Client maintains a Vault on the Unchained Site which includes a key held by FORTIS BANK. Notwithstanding the foregoing, FORTIS BANK may terminate its provision of the Services to Client for convenience at any time with written notice to Client, and upon any such termination Client agrees to take any commercially reasonable measures requested by FORTIS BANK to remove any bitcoin from any Unchained Vault in which FORTIS BANK holds a key.

3. SUPPLY OF SERVICES

FORTIS BANK shall perform the Services with all commercially reasonable care and skill and comply with all laws, statutes, and regulations applicable to the provision of the Services from time to time in force.

4. KEY AGENT TRANSACTION SERVICE AND SCHEDULE

4.1. Service Activation Requirements

4.1.1 The Client acknowledges that FORTIS BANK is unable to commence provision of the Services until such time as:

  • the Client has created a Vault through Unchained’s Platform using a FORTIS BANK public key; and
  • all relevant Charges have been paid through the Unchained Site.

4.2. Services Description

4.2.1. FORTIS BANK shall:

  • allow one of its public keys to be used in the construction of a Client Vault. FORTIS BANK shall retain the private key associated with the public key for the Vault (the “FORTIS BANK Private Key”).
  • hold the FORTIS BANK Private Key in encrypted form in a secured location.
  • on request of the Client through the Unchained Site, subject to Section 4.3.1, apply a cryptographic signature to a bitcoin transaction file using the FORTIS BANK Private Key

4.2.2. FORTIS BANK will not:

  • apply any cryptographic signature to any file if it reasonably believes the file, after application of the aforementioned cryptographic signature, could itself independently and without additional cryptographic signatures from unrelated third parties be broadcast to the bitcoin network and accepted into a block on the bitcoin blockchain.
  • broadcast any transaction to the bitcoin network.
  • accept possession or control over any Client bitcoin, act as a custodian over any Client bitcoin, or obtain any legal title to any Client bitcoin.
  • take any action which it believes to be in violation of any law, regulation, or its commercially reasonable policies or procedures.

4.3 Transaction Conditions

4.3.1. The Client acknowledges that FORTIS BANK shall not be required to provide any cryptographic signature until the request for signature made by the Client is sufficiently verified, as determined in FORTIS BANK’s commercially reasonable discretion.

4.3.2. Upon any request by Client that FORTIS BANK apply a cryptographic signature, FORTIS BANK will verify the identity of the person submitting the request and the authenticity of the request in accordance with its standard operating procedures. These standard operating procedures may change at any time, without notice to Client. FORTIS BANK may rely on any action, instruction, or authorization that it determines, in good faith and in accordance with any commercially reasonable standard operating procedure, to be valid. FORTIS BANK may refuse to provide any cryptographic signature in the event that it: (a) has any reason to believe is not valid and authorized, or (b) believes in good faith to be in violation of any applicable laws and regulations.

4.3.3. Other than in the event of the failure of Unchained Capital, Inc. as a going concern, or general unavailability of the Unchained Site exceeding five business days, all communications regarding a request for cryptographic signature initiated by Client shall occur solely through the Unchained Site. Client acknowledges that any communications outside of the Unchained Site are invalid and create no duty to perform requested Services. With respect to a Client which is an entity, in the failure of Unchained Capital, Inc. as a going concern, or general unavailability of the Unchained Site exceeding five business days, FORTIS BANK may rely upon any facially accurate documentation, without necessity of undertaking independent verification, to establish a party as an authorized officer or employee of the entity Client to request cryptographic signatures from FORTIS BANK.

4.4. Transaction Timeframe

4.4.1. FORTIS BANK shall use reasonable efforts to complete cryptographic signature requests received through the Unchained Site by 2 p.m. Eastern United States Time within one (1) Business Day following the satisfaction of Section 4.3.1. Transaction requests received after 2 p.m. Eastern United States Time shall be considered as made on the following Business Day. In no event shall FORTIS BANK be liable for failing to apply a cryptographic signature in a timely manner due to: (x) the inability of FORTIS BANK to authenticate any signature request, (y) internet or other technical outages at the offices or other locations of FORTIS BANK, or (z) unavailability of the Unchained Site.

5. CLIENT OBLIGATIONS

5.1. The Client shall:

  • cooperate with FORTIS BANK in all matters relating to the Services including by satisfying the Service Activation Requirements;
  • comply with all laws, statutes, and regulations applicable to the use of the Services from time to time in force; and
  • comply with all reasonable written instructions given by FORTIS BANK, through the Unchained Site or otherwise, in respect of the use of the Services.

5.2. The Client acknowledges that FORTIS BANK shall not be required to commence provision of the Services until such time as the Service Activation Requirements have been satisfied by the Client.

5.3. If FORTIS BANK’s performance of its obligations under these Terms is otherwise prevented or delayed by any act or omission of the Client, its agents, subcontractors, consultants or employees, FORTIS BANK shall:

  • not be liable for any costs, charges or losses sustained or incurred by the Client that arise directly or indirectly from such prevention or delay; and
  • be entitled to recover any additional costs, charges or losses FORTIS BANK sustains or incurs that arise from such prevention or delay.

6. INTELLECTUAL PROPERTY

6.1. Nothing in these Terms is intended to operate, or shall operate, to transfer ownership of any Intellectual Property Rights.

7. CHARGES AND PAYMENT

7.1. In consideration for the provision of the Services, the Client shall pay the Charges through the Unchained Site.

7.2. The Charges shall be paid by the Client in full without any set-off, counterclaim, deduction or withholding (other than any deduction or withholding of tax as required by law).

8. LIMITATIONS OF LIABILITY

8.1. FORTIS BANK has obtained insurance cover in respect of its liability under related to the Services. The limits and exclusions in this section 8 reflect the insurance cover FORTIS BANK has been able to arrange. The Client is responsible for making its own arrangements for the insurance of any excess loss.

8.2. References to liability in this Section 8 include every kind of liability arising under or in connection with the Services (including, but not limited to, liability in contract, tort (including negligence), misrepresentation, restitution or otherwise).

8.3. Nothing in these Terms limits or excludes any liability of FORTIS BANK or the Client:

  • for fraud or fraudulent misrepresentation;
  • arising from its deliberate default; or
  • which cannot be limited or excluded by applicable law.

8.4. Subject to section 8.3, neither FORTIS BANK nor the Client shall have any liability for the following types of loss:

  • loss of profits;
  • loss of sales or business;
  • loss of agreements or contracts;
  • loss of anticipated savings;
  • loss of use or corruption of software, data or information;
  • loss of or damage to goodwill; and
  • indirect or consequential loss.

8.5. The Client shall promptly notify FORTIS BANK in writing upon becoming aware of the occurrence of any event which may, or is reasonably likely to, result in the Client making a claim relating to the Services. In such circumstances, the Client shall also promptly provide such further details regarding the event and the likely grounds for any claim under these Terms as FORTIS BANK may reasonably require. Subject to section 8.3, FORTIS BANK shall have no liability for any event which may give rise to a claim by the Client related to the Services unless the Client complies with this section 8.5.

8.6. Subject to sections 8.3, 8.4, and 8.5, FORTIS BANK’s total liability to Client related to the Services shall not exceed the total sum of fees paid by Client for the services provided under these TOS.

9. WARRANTIES AND DISCLAIMERS

9.1. TO THE FULLEST EXTENT PERMISSIBLE PURSUANT TO APPLICABLE LAW, FORTIS BANK AND ITS CONTRACTORS, DIRECTORS, OFFICERS, EMPLOYEES, AGENTS, THIRD-PARTY PARTNERS, LICENSORS AND SUPPLIERS (COLLECTIVELY, THE “FORTIS BANK PARTIES”) DISCLAIM ALL WARRANTIES, STATUTORY, EXPRESS OR IMPLIED WITH RESPECT TO THE SERVICES, INCLUDING, BUT NOT LIMITED TO, IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, AND NON-INFRINGEMENT OF PROPRIETARY RIGHTS AND WARRANTIES ARISING FROM A COURSE OF DEALING, USAGE OR TRADE PRACTICE. WITHOUT LIMITATION TO THE FOREGOING, THE FORTIS BANK PARTIES PROVIDE NO WARRANTY OR UNDERTAKING, AND MAKES NO REPRESENTATION OF ANY KIND, WHETHER EXPRESS, IMPLIED, STATUTORY OR OTHERWISE, THAT THE SERVICES WILL MEET CLIENT REQUIREMENTS OR ACHIEVE ANY INTENDED RESULTS. NO ADVICE OR INFORMATION, WHETHER ORAL OR WRITTEN, OBTAINED BY YOU FROM THE FORTIS BANK PARTIES WILL CREATE ANY WARRANTY NOT EXPRESSLY STATED HEREIN. CLIENT EXPRESSLY AGREES THAT THE USE OF ANY OF THE SERVICES, AND ANY DATA, ASSESSMENTS, RESULTS, INFORMATION, THIRD-PARTY SOFTWARE, CONTENT, THIRD PARTY SITES, SERVICES, OR APPLICATIONS MADE AVAILABLE IN CONJUNCTION WITH OR THROUGH ANY OF THE SERVICES ARE PROVIDED ON AN “AS IS” AND “AS AVAILABLE”, “WITH ALL FAULTS” BASIS AND WITHOUT WARRANTIES OR REPRESENTATIONS OF ANY KIND EITHER EXPRESS OR IMPLIED.

9.2. Except as specifically provided in writing by FORTIS BANK, FORTIS BANK does not warrant or make any representations regarding the use or the results of the use of any of the Services or of the Unchained Site in terms of correctness, accuracy, reliability, or otherwise.

9.3. FORTIS BANK is not, for purposes of the services contemplated hereunder, an administrator, custodian, or issuer of virtual currency or a bank, broker-dealer, investment club, or investment advisor, but rather a registered agent service and technology provider which applies cryptographic signatures to computer files at the direction of its Clients. No bitcoin or value thereof is guaranteed by FORTIS BANK, the FDIC, the SIPC, or any other government entity. Client shall be solely responsible for compliance with all applicable U.S. and international laws and regulations relating to the use of bitcoin. Client shall indemnify and hold harmless FORTIS BANK for all claims, losses, damages, liabilities, including legal fees and expenses, arising out of or related to the use of its bitcoin including the violation (whether intentional or not) of any applicable U.S. or international laws.

9.4. FORTIS BANK will never at any time maintain a quorum of private keys over Client bitcoin. As such, FORTIS BANK cannot bear any responsibility or liability for safekeeping of Client bitcoin or for any loss of Client bitcoin.

9.5. FORTIS BANK stores certain cryptographic material as safe deposit box activity. It does not custody any bitcoin, nor does it accept bitcoin deposits. FORTIS BANK at no time possesses sufficient cryptographic material to unilaterally author any bitcoin transaction, nor does it in any circumstance transmit any bitcoin transaction to the bitcoin network.

10. TERMINATION

10.1. Without affecting any other right or remedy available to it, FORTIS BANK or the Client may terminate the Services for convenience at any time with written notice to Client.

10.2. On termination of the Services for whatever reason any provision of these Terms that expressly or by implication is intended to come into or continue in force on or after termination of the Services shall remain in full force and effect.

10.3. Termination of the Services shall not affect any of the rights, remedies, obligations, or liabilities of the parties that have accrued up to the date of termination, including the right to claim damages in respect of any breach of these Terms which existed at or before the date of termination.

10.4. All Charges which have been paid before the date of termination of the Services or permitted amendment of these Terms are non-refundable in all events.

10.5. Upon termination of the Services, FORTIS BANK agrees to use commercially reasonable efforts to assist Client in removal of all bitcoin from any Unchained Vault in which FORTIS BANK holds a private key.

11. FORCE MAJEURE

Neither FORTIS BANK nor the Client shall be in breach of these Terms nor liable for delay in performing, or failure to perform, any of its obligations under these Terms if such delay or failure result from events, circumstances or causes beyond its reasonable control.

12. ASSIGNMENT

FORTIS BANK may assign any or all of its rights and obligations under these Terms to an affiliate. FORTIS BANK shall notify the Client of completion of any assignment under this section as soon as reasonably practicable. Client may not assign any of its rights or obligations under these Terms.

13. PRIVACY

Client will at all times be covered by the FORTIS BANK Privacy Policy as posted on the FORTIS BANK website (https://www.fortisbankus.com/wp-content/uploads/Fortis-Bank-Privacy-Policy.pdf), as amended from time to time.

14. ENTIRE AGREEMENT

14.1. These Terms constitute the entire agreement between the parties and supersedes and extinguishes all previous agreements, promises, assurances, warranties, representations, and understandings between them (whether written or oral) relating to its subject matter.

14.2. FORTIS BANK and the Client acknowledge that in entering into these Terms they did not rely on, and shall have no remedies in respect of, any statement, representation, assurance, or warranty (whether made innocently or negligently) that is not set out in these Terms.

14.3. Neither FORTIS BANK nor the Client shall have any claim for innocent or negligent misrepresentation or negligent misstatement based on any statement in these Terms.

15. FUTURE AMENDMENTS

Client may not amend these Terms. FORTIS BANK may amend these terms at any time by posting superseding terms to its website (https://www.fortisbankus.com) or by notifying Client via email or any other reasonable written method, chosen in its sole and absolute discretion.

16. WAIVER

16.1. A waiver of any right or remedy under these Terms or by law is only effective if given in writing and shall not be deemed a waiver of any subsequent right or remedy.

16.2. A failure or delay by a party to exercise any right or remedy provided under these Terms or by law shall not constitute a waiver of that or any other right or remedy, nor shall it prevent or restrict any further exercise of that or any other right or remedy. No single or partial exercise of any right or remedy provided under these Terms or by law shall prevent or restrict the further exercise of that or any other right or remedy.

17. SEVERANCE

If any provision or part-provision of these Terms is, or becomes, invalid, illegal, or unenforceable, it shall be deemed modified to the minimum extent necessary to make it valid, legal, and enforceable. If such modification is not possible, the relevant provision or part-provision shall be deemed deleted. Any modification to or deletion of a provision or part-provision under this section shall not affect the validity and enforceability of the rest of these Terms.

18. NOTICE

18.1. Any notice given under or in connection with the Services or these Terms shall be in writing and shall be:

  • if to Client, delivered by hand or by certified mail, return receipt requested, or other next working day delivery service at the address registered on the Unchained Site, or alternatively sent via email to an email address registered by Client on the Unchained Site; or
  • if to FORTIS BANK, delivered by hand or by pre-paid first-class post or other next working day delivery service to 1550 17th Street, Suite 100, Denver, CO 80202, or sent via email to clientservices@fortisbankus.com, said address and email address subject to change by notice to Client.

18.2. Any notice shall be deemed to have been received:

  • if delivered by hand, at the time the notice is left at the proper address;
  • if sent by certified mail or other next working day delivery service, at 9.00 am on the second Business Day after posting; or
  • if sent by email, at the time of transmission, or, if this time falls outside business hours in the place of receipt, when business hours resume.

18.3. In this section, business hours means 9.00am to 5.00pm prevailing time Monday to Friday on a day that is not a public holiday in the place of receipt.

18.4. This section does not apply to the service of any proceedings or other documents in any legal action or, where applicable, any arbitration or other method of dispute resolution.

19. THIRD PARTY RIGHTS

These Terms do not give rise to any third-party to enforce any term of these Terms.

20. GOVERNING LAW

These Terms, and any dispute or claim (including non-contractual disputes or claims) arising out of or in connection with it or the Services, shall be governed by, and construed in accordance with the laws of the State of Colorado.

21. CONFLICT RESOLUTION

21.1. CLIENT AGREES THAT ALL DISPUTES BETWEEN CLIENT AND FORTIS BANK (WHETHER OR NOT SUCH CLAIM INVOLVES A THIRD PARTY) IN CONNECTION WITH THESE TERMS, INCLUDING WITHOUT LIMITATION, RIGHTS OF PRIVACY, WILL BE RESOLVED BY BINDING, INDIVIDUAL ARBITRATION UNDER THE AMERICAN ARBITRATION ASSOCIATION’S RULES FOR ARBITRATION OF CONSUMER-RELATED DISPUTES (IN THE CASE OF AN INDIVIDUAL OR TRUST CLIENT) OR COMMERCIAL DISPUTES (IN THE CASE OF A BUSINESS CLIENT) AND YOU AND FORTIS BANK HEREBY EXPRESSLY WAIVE TRIAL BY JURY. DISCOVERY AND RIGHTS TO APPEAL IN ARBITRATION ARE GENERALLY MORE LIMITED THAN IN A LAWSUIT, AND OTHER RIGHTS THAT YOU AND UNCHAINED WOULD HAVE IN COURT MAY NOT BE AVAILABLE IN ARBITRATION. Any such arbitration shall be in English and be held in New Castle County, Delaware and the number of arbitrators shall be one (1). Except as otherwise required by law, the parties and the arbitrator agree to keep confidential and not disclose to third parties any information or documents obtained in connection with the arbitration process, including the resolution of the Dispute. You may bring claims only on your own behalf. NEITHER CLIENT NOR FORTIS BANK WILL PARTICIPATE IN A CLASS ACTION OR CLASS-WIDE ARBITRATION FOR ANY CLAIMS COVERED BY THIS AGREEMENT TO ARBITRATE. CLIENT IS GIVING UP ITS RIGHT TO PARTICIPATE AS A CLASS REPRESENTATIVE OR CLASS MEMBER ON ANY CLASS CLAIM CLIENT MAY HAVE AGAINST FORTIS BANK INCLUDING ANY RIGHT TO CLASS ARBITRATION OR ANY CONSOLIDATION OF INDIVIDUAL ARBITRATIONS. Client also agrees not to participate in claims brought in a private attorney general or representative capacity, or consolidated claims involving another person’s account if FORTIS BANK is a party to the proceeding. This dispute resolution provision will be governed by the Federal Arbitration Act and not by any state law concerning arbitration. Judgment on the award rendered by the arbitrator may be entered in any court having competent jurisdiction. Any provision of applicable law notwithstanding, the arbitrator will not have authority to award damages, remedies or awards that conflict with these Terms. With respect to any claim which cannot be heard in arbitration, FORTIS BANK and Client irrevocably agree that the state courts located in New Castle County, Delaware shall have exclusive jurisdiction to settle any dispute or claim (including non-contractual disputes or claims) arising out of or in connection with the Services.

21.2. In the event that either party institutes any legal suit, action or proceeding against the other party arising out of or relating to these Terms or the Services, the prevailing party in the suit, action or proceeding shall be entitled to receive in addition to all other damages to which it may be entitled, the costs incurred by such party in conducting the suit, action

21.3. ANY CAUSE OF ACTION OR CLAIM CLIENT MAY HAVE ARISING OUT OF OR RELATING TO THESE TERMS, THE SERVICES, OR CLIENT’S RELATIONSHIP WITH FORTIS BANK MUST BE COMMENCED WITHIN TWO (2) YEARS AFTER THE CAUSE OF ACTION ACCRUES, OTHERWISE, SUCH CAUSE OF ACTION OR CLAIM IS PERMANENTLY BARRED.

22. INDEMNIFICATION

Client agrees to indemnify, save, and hold FORTIS BANK, its affiliated companies and subsidiaries, contractors, employees, agents and its third-party suppliers, licensors, and partners harmless from any claims, losses, damages, liabilities, including legal fees and expenses, arising out of any bitcoin transaction authored by Client upon which FORTIS BANK has applied or has been directed to apply a cryptographic signature at Client’s request, Client’s use or misuse of the Services or the Unchained Site, any violation by Client of these Terms, any breach of the representations, warranties, and covenants made by Client on the Unchained Site or to FORTIS BANK directly, or any violation of any law or regulation by Client. FORTIS BANK reserves the right, at Client’s expense, to assume the exclusive defense and control of any matter for which Client is required to indemnify FORTIS BANK, and Client agrees to cooperate with FORTIS BANK’s defense of these claims. FORTIS BANK will use reasonable efforts to notify Client of any such claim, action, or proceeding upon becoming aware of it. For avoidance of doubt, all indemnification provisions of these Terms shall survive termination of these Terms.

23. Client Representations and Warranties

Client makes the following representations and warranties upon acceptance of these Terms, as well as anew upon each cryptographic signature request made as part of the Services, and also anew upon the deposit of any bitcoin to a Vault covered by the Services:

  • Client holds unencumbered legal title to all bitcoin in all Vaults to which FORTIS BANK provides the Services. Notwithstanding the foregoing, if the Services are provided to a Vault which contains bitcoin belonging to an Individual Retirement Account qualified under sections 408 or 408A of the Internal Revenue Code, Client does not hold legal title, but instead represents and warrants that it has been delegated appropriate key control by the IRA custodian legal titleholder.
  • Client is not breaching any contract or violating any law or regulation by accepting these Terms or by requesting the Services.
  • Neither Client, anyone for whom Client is an agent or nominee, nor anyone who controls Client are (i) the target of any laws administered by the United States Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) or any other governmental entity imposing economic sanctions and trade embargoes (“Economic Sanctions Laws”), or (ii) located, organized, or resident in a country or territory that is, or whose government is, the target of sanctions imposed by OFAC or any other governmental entity.
  • Client’s use of the Services is legal in Client’s local jurisdiction, and Client is not and will not use the Services if such use is prohibited or otherwise violates the laws of the country, state, province, or other jurisdiction in which Client resides, holds citizenship, or is organized.
  • If Client is an entity, these Terms are being accepted by an authorized person to bind the entity.
  • If Client is an entity, it is validly organized and currently existing in its jurisdiction of organization and has full authority to be bound by these Terms.
  • If Client is a Trust, the party accepting these terms is a currently serving trustee, and any and all co-trustees required to bind the trust have also accepted these Terms.
  • All Users of the Unchained Site which are designated on the Unchained Site as authorized to make cryptographic signature requests of Unchained Capital, Inc. or any of its affiliates with respect to a given Vault are also authorized to make cryptographic signature requests of FORTIS BANK related to said Vault.