Virtual Mining Corpoation
Bitcoin Pre-Order Refund Agreement
I hereby agree for my pre-order equipment ordered from Virtual Mining Corporation paid is USD or bitcoins to be refunded to the bitcoin address below converted at the current coinbase.com buy price at the time the refund is issued. I agree that this will be a full repayment of Virtual Minings obgation to you.
Name:
Address:
City:
State:
Country:
Order ID:
Order Date:
Total amount of order is USD:
Bitcoin Refund Address
I hereby agree the above terms:
_________________________________
Signed
_________________________________
Print Name
Sign and scan the above agreement and email to
btcrefunds@virtualminingcorp.com So, correct me if I'm misunderstanding this, but the refund agreement says that the customer agrees to be refunded in BTC at no specific date using the coinbase.com rate on that particular date, and they furthermore agree that repayment covers all obligation that VMC has to the customer.
So let's say that between now and when the refund is paid, the customer enters into legal action against VMC. All VMC has to do is pay the refund for that customer, and doing so would activate the agreement and stop the legal action.
In other words, this isn't a refund request, it's a settlement agreement that doesn't even require VMC to pay anything up front. It can easily be triggered by VMC if you ever sue them, and it still lets them wait literally forever to pay you back. So the form gives VMC power that the customer shouldn't agree to.
We have already started sending out the first payment. We intend to pay refunds as soon as we receive the form and can process the request.