Terms and conditions

1. AGREEMENT ON TERMS OF SERVICES

1.1. Monetha (​“Platform”, or ​“Monetha”) is a Decentralized Trust and Reputation System (​“DTRS”) that enables Platform users (​“Users”) to initiate and execute deals in a secure manner and form transferable and transparent reputation to facilitate trusted commerce between parties.

1.2. The Users of Platform can also be recognized specifically as:

1.2.1. Users who sell goods or services are “​Sellers”;

1.2.2. Users who are buying goods or services are ​“Buyers”;

1.2.3. Goods or Services Sellers are selling, and Goods or Services Buyers are buying are “​Goods”;

1.2.4. Deal between Buyer and Seller (​“Deal”) – agreement on terms and conditions between Seller and Buyer for selling Goods from Seller to Buyer. Agreement is verified by confirming the deal in Monetha mobile application. The changes in the mean of deal can be applied.

1.3. Platform enables Sellers and Buyers to communicate directly, initiate and execute deals, and manage claims. Users that use the Platform for commerce can see other party reputation before making the deal, and, as a result, Users operate in a safer and more trustful environment.

1.4. These Terms of Services (“​Terms”, or “​Terms of Services”) constitute a framework agreement which sets out the terms effective between you (User) and us (Monetha) entering into Platform and the use of Monetha App and other services provided by Monetha. Before using Monetha Services, Monetha requires you to carefully:

1.4.1. read these Terms;

1.4.2. read Monetha Privacy Policy;

1.4.3. provide your personal information, documentation and other information (“​Personal information”) which either we or third parties will request from you in order to comply with Monetha policies;

1.4.4. provide accurate, correct and valid personal identification information during the process of creating and verifying a Monetha account;

1.4.5. fill (or tick) the box or otherwise confirm that you understood information provided and you agree with these Terms of Services;

1.4.6. fill (or tick) the box or otherwise confirm that you understood information provided and you agree with Monetha Privacy Policy.

1.5. Platform Terms incorporate the other terms released by Monetha ​and any supplements by this reference. By accepting these Terms, you are deemed to have accepted the terms and conditions of our service providers (third parties).

1.6. After you completed the registration procedures we shall make the Platform dashboard available to you. All the benefits of Platform dashboard shall be available for you after you pass Platform verification procedure, as specified in Monetha Privacy Policy.

1.7. Monetha notes you that Platform is not responsible for any losses that occur due and takes no responsibility for the submission of invalid, incorrect or inaccurate Personal information.

2. SCOPE OF MONETHA SERVICES

2.1. Platform enables Users to make deals based on Users reputation profile. Users reputation profile (​“Reputation”) is combined from:

2.1.1. other users’ evaluation after interactions: deal, claims (“​Stars”);

2.1.2. reputation points given by the platform for users’ activity (“​Reputation points”);

2.1.3. reviews by other users after interactions: deal, claims (​“Reviews”);

2.1.4. gamification element, indications about users’ achievements that are unlocked while actively using the platform (​“Badges”);

2.1.5. platform implements best practices for trustworthiness scoring so that all Users can benefit, analyzing aspects such as: newness of a User, recency of Users’ activities, Users’ behavior and Users’ expectations towards another party and others.

2.2. Platform measures your activity and provides you with Reputation points, which are based on your behavior while using the Platform. Reputation points are given to Users for all significant actions: registration, profile enrichment, deal creation and execution, claims, reviews and other activity.

2.3. Reputation is publicly viewable. Reputation is linked to the User and stored on distributed ledger to ensure transparency of Users reputation. If a User is leaving platform associated link is removed and User cannot be matched to a Reputation.

2.4. Platform is not a payment gateway, does not own, create, sell, resell, provide, manage, offer, deliver, or supply any Goods by itself. Sellers are responsible for the Goods quality, delivery and other issues related with the Goods.

2.5. Platform uses third party technology and partners to facilitate payments for Users convenience.

2.6. Platform is an independent, third-party contractor and is not a Seller, Buyer, distributor, agent or partner. Users are working on their own behalf, for their own benefit and at their own risk and liability.

2.7. Buyers who are buying Goods from Sellers are entering into a direct contract between themselves, as respective parties to the deal. Platform does not become a party to a deal and is only providing services to facilitate the deal initiation and execution, claims management and reputation profile formation.

2.8. Monetha may help facilitate the resolution of disputes or to facilitate deal execution (payment, shipping), but does not have a control or guarantee on:

2.9. Goods and is not responsible for legality, quality or suitability of any Goods;

2.10. the accuracy of descriptions made by Users;

2.11. the performance or conduct of any User or third party.

2.12. User description is not an endorsement, certification, insurance or guarantee by Platform, including, the User’s identity or background or whether the Member is trustworthy, safe or suitable. Monetha does not endorse and does not accept any liability or any risk for any Deals, Goods, Sellers or Buyers.

2.13. The Reputation of the User indicates his/her activity in the Platform and history of interaction with other Users. Reputation is used solely by Users themselves to make their own decision about reputation and trustworthiness of other User and make informed decision if to proceed with the deal with that person.

2.14. Monetha notes that Verified User only indicates that the User has completed verification procedure and provided his/her Personal information to Platform (or Platform related third parties).

2.15. Monetha only helps to see the Reputation of the User, but the exercise of due diligence and decision to buy or (and) to trust the User is the decision and the risk of the User, not Monetha.

2.16. All the characteristics, images or other details of Goods are presented by Users (or third parties) and are not endorsed, guaranteed or verified by Monetha.

2.17. Monetha reserves the right to promote Platform and to improve trusted global e-commerce.

2.18. Platform may contain links to third-party websites or resources (“Third-Party Services”). Such Third-Party Services may be subject to different terms and conditions and privacy practices. Monetha is not responsible or liable for the availability or accuracy of such Third-Party Services, or the content, products, or services available from such Third-Party Services. Links to such Third-Party Services are not an endorsement by Monetha of such Third-Party Goods or Services.

3. SERVICE FEE

3.1. Any applicable Service Fees (including any applicable Taxes) will be displayed to Users prior to using Monetha services. Monetha reserves the right to change the Service Fees and conditions at any time, and we will provide Users adequate notice of any fee changes before they become effective.

4. ACCOUNT REGISTRATION AND VERIFICATION

4.1. ACCOUNT REGISTRATION

4.1.1. User who wants to become Seller or Buyer must register, activate and verify their personal user account (​“Account”). You must be at least 18 years of age, or the age of legal majority in your jurisdiction (if different than 18), to register and open an Account.

4.1.2. Account can be registered by using User’s phone number, name, last name and e-mail address or using third – party social networking services, such as Facebook or other and must be up-to date all the time. By creating an Account, User agrees that the Services may send you text (SMS) messages as part of the normal business operation of your use of the Services.

4.1.3. Account registration requires User to submit Personal information, as specified in Monetha Privacy Policy.

4.1.4. User must provide accurate, complete, valid, and up-to-date information. If User fails to fulfill accurate, valid and complete information it shall result in inability to use Platform, inability to reach high Reputation or in some cases – termination of Account.

4.2. ACCOUNT SECURITY

4.2.1. User maintains the security, confidentiality and secrecy of their Account and login information. User is responsible for their Account credentials and for non-disclosure of their credentials to third parties.

4.2.2. User is the only one who is responsible for all activities that occur on their Account.

4.2.3. User shall not authorize third parties to use their Account. The assignment or transfer of User Account to the third parties is strictly forbidden and shall result in permanent ban of User and Account.

4.3. VERIFICATION

4.3.1. To use full Platform benefits User shall pass verification procedure (​“Verification”), as described in Monetha Privacy Policy.

4.3.2. During Verification process User agrees to provide his/her personal information, e. g., personal ID or passport copy and any other information requested by Monetha or third parties. This may include, but not limited to, asking you for further information that will allow Monetha to reasonably identify you.

4.3.3. Monetha reserves the right to close, suspend, or limit access to your Account in the event we are unable to verify such information.

4.3.4. Monetha reserves the right to contact User and request to provide more information or approve that provided information is not out of date and is valid.

4.3.5. Monetha does not assume any responsibility for the confirmation of any Member’s identity.

4.3.6. Monetha shall be not liable or responsible towards any User for Verification process.

5. ACCOUNT DE-ACTIVATION. RE-REGISTRATION

5.1. Users shall have the right to de-activate and close their Account at any time of their choice.

5.2. At any time after de-activation Users will be free to re-register with the platform and open the Account. In such a case the User will have to undergo Account registration process as described in Clause 4 above.

6. TERMS FOR SELLERS

6.1. Sellers are expected to adhere to the following policies when making Deals on Platform. Seller offences and prohibited content can result in suspension of their Account as well as passing on the information to the competent institutions and conduct of other due actions.

6.2. Seller will be required to provide information about Goods every time when Seller starts the Deal (see Formalization of the Deal). Each Seller represents, warrants and agrees that such information submitted during the formalization of the Deal is true, accurate, valid, current and complete.

6.3. The Seller takes full responsibility for quality of Goods as stated ​in the description of the Deal. ​The Seller is responsible for ensuring that he/she is not selling an item that is prohibited or limited by law.

6.4. The Deal shall be deemed completed when the Parties shall agree on the terms and conditions of the Deal.

6.5. Seller commits to deliver the selling Goods to the Buyer as agreed in the Deal.

6.6. In the case of broken, damaged or not working item, Seller takes a full responsibility for solving the issue with Buyer according to laws of the country where Deal was made.

6.7. In case the Buyer is treated as a consumer in accordance with the laws applicable to his legal capacity, the Seller undertakes to provide all necessary information regarding sale of Goods to the Buyer according to applicable legal requirements related to consumer rights protection.

7. TERMS FOR BUYERS

7.1. All Buyers are expected to adhere to the following policies when making deals using Monetha. Buyer offences and prohibited content can result in suspension of their Account.

7.2. In the case of Buyer wants to get more details about the Goods, Buyer shall ask Seller for any additional information about the Goods during the Deal. Any additional information that Buyer asked for and (or) received from Seller is being stored in online check.

7.3. During finalization of the Deal (if Deal ends up in face to face meeting) Buyer must be aware and is always responsible for due diligence of the Goods (checking condition of Goods and etc.).

7.4. In the case of broken, damaged or not working Goods, Buyer shall contact the Seller and solve the issue by themselves. If the Seller and Buyer does not achieve an agreement, the following dispute shall continue:

7.4.1. by first contacting Seller, and then Monetha (in case the dispute resolution was not successful directly with Seller); and

7.4.2. according to national laws of the country, where Deal was made​.

7.5. If Parties are not able to reach an agreement, Buyer can use Monetha’s Buyer’s Protection which may be issued by Monetha at Monetha’s own good will (see Monetha Buyer Protection).

8. TAXES

8.1. As a Seller and (or) Buyer are responsible determining their obligations to report, collect, remit or include in Goods fee any applicable VAT or other direct or indirect taxes (​“Taxes”).

8.2. User understands that any governmental agency, department and/or tax authority (​“Tax authority”) may require Taxes to be charged, collected and reported in relation to the Deal.

8.3. Monetha does not charge, collect or report any Taxes in relation to the Deal and is not responsible for Users Tax issues. Monetha collects information about User Deals. By the request of the Tax authorities Monetha shall provide User deals history to the Tax authority without informing the User.

9. DISCLAIMERS

9.1. Users who use Platform acts on their own risk. Platform services are provided on AS IS basis without any representation, guarantee or warranty, whether express, implied or statutory.

9.2. User agrees that he/she has investigated and understood these Terms of Services, rules and other related documents and terms.

9.3. User agrees that he/she has investigated tax and other laws which can be applicable to Goods, Deal or services in his/her or other User jurisdiction and understands that Platform is only the third party, which is not responsible for User Taxes or tax issues.

9.4. Platform is not a payment solution and cannot ensure that Buyer or Seller will complete the Deal.

9.5. User assumes full responsibility for the choices or Deals they make. User makes Deals on their own risk and is solely responsible for a quality of Goods or services.

9.6. User assumes full liability for any personal details or personal information he divulges to the other User in connection to the Goods or Deal.

9.7. User agrees to release Monetha from any legal liabilities and (or) claims that arises from User to User connection and is related among other matters with:

9.7.1. quality of Goods;

9.7.2. description and other information which the Users provide on the Platform regarding Goods, Deal or a purchase;

9.7.3. quality of services;

9.7.4. delivery of Goods or services;

9.7.5. Reputation of User;

9.7.6. negotiation of the Deal;

9.7.7. implementation of the Deal.

10. LIABILITY

10.1. Unless applicable laws specify otherwise, the Platform or any third party which is involved is not liable for any losses related to any business of Users including (without limitation) User damages, lost profits, opportunities, revenues, data, direct or indirect financial losses.

10.2. Platform or any third party which is involved is not liable for a Reputation made by other Users and is not liable for any incidental loss of reputation or loss of goodwill.

10.3. Limitations of Monetha’s liability:

10.3.1. Platform shall not be liable for any claims or losses in connection with or arising from Deals that Users negotiate, communicate and/or enter into;

10.3.2. Platform shall not be liable for any claims, losses or damages in connection with or arising from infringements of copyrights, trademark laws, intellectual property or other applicable laws that were made by Users while using the Platform;

10.3.3. Platform shall not be liable for any damages or losses resulting directly or indirectly from Users’ use of or your inability to use the Platform, delays or disruptions, glitches, bugs, errors, or inaccuracies of any kind in the Platform.

10.4. In any event, in case the Platform is to be found liable, our liability against the User or to any third-party is limited to the greater of (a) up to the price the Goods sold / offered via Platform (including any applicable sales tax), (b) the amount of fees in dispute not to exceed the total fees, which User paid while using the Platform in the three (3) months prior to the action giving rise to the liability, or (c) 100 EUR.

10.5. Users will indemnify and hold us (including our affiliates and subsidiaries, as well as our and their respective officers, directors, employees, agents) harmless from any claim, request or demand, including reasonable legal fees, made by any third-party due to or arising out of your breach of these Terms of Services, your improper use of the Platform or your breach of any law or the rights of any User or a third party. Specifically, the User guarantees that all claims for damages and other costs, including reasonable legal fees, related to intellectual property right infringements that are submitted to the Platform because of User’s activity will be fully covered by the User.

11. APPLICABLE LAW AND JURISDICTION

11.1. This Agreement shall be governed by the substantive law of Lithuania. Notwithstanding this provision, if the User is treated as a consumer in accordance with the laws applicable to his capacity, the User can rely on the mandatory laws of consumer protection of the country where the User has his habitual residence.

11.2. Monetha prefers amicable dispute resolution process. In case of any misunderstanding or controversy, Monetha offers to contact directly with Monetha and resolve such a conflict in a friendly manner. If it cannot be resolved in a friendly way within three months after the conflict has arisen, any further dispute shall be settled with respect to the following rules:

11.2.1. In case the User is not treated as a consumer in accordance with the laws applicable to his capacity, any dispute, controversy or claim arising our or in connection with this Agreement where the disputed amount exceeds EUR 1,000,000 shall be finally resolved by arbitration in accordance with the Arbitration Rules of the Arbitration Institute of the Stockholm Chamber of Commerce. The number of arbitrators shall be 3 (three). The venue of arbitration shall be Vilnius, Lithuania. The language of arbitration shall be English.

11.2.2. If the criterion of EUR 1,000,000 foreseen in Clause 11.2.1 of this Agreement is not met, any dispute between the Parties shall be settled before the competent courts of Vilnius, Lithuania.

11.2.3. User can bring the lawsuit either before the courts of Monetha’s place of business or before the courts of his/her own domicile.

12. RESTRICTED ACTIVITIES

12.1. In connection with User’s use of Platform, Account, the Platform services, or in the course of your interactions with Monetha, other Monetha customers, or third parties, you will not:

12.1.1. Post, list or upload inappropriate content, information or items.

12.1.2. Violate these Terms of Services or any other agreement between User and Platform.

12.1.3. Violate any law, statute, ordinance, or regulation.

12.1.4. Infringe Monetha’s or any third party’s copyright, patent, trademark, trade secret or other intellectual property rights, or rights of publicity or privacy.

12.1.5. Sell counterfeit, prohibited, limited, illegal Goods.

12.1.6. Act in a manner that is defamatory, trade libelous, threatening or harassing.

12.1.7. Provide false, inaccurate or misleading information.

12.1.8. Send or receive what we reasonably believe to be potentially fraudulent funds.

12.1.9. Refuse to cooperate in an investigation or provide confirmation of your identity or any information you provide to Monetha or Third-parties related with Monetha.

12.1.10. Harass Monetha employees, Monetha related parties or other Platform Users.