OTC Agreement
更新时间: 2021-08-27 14:14:08

The OTC user Service Agreement ("Agreement") is a supplement to the DF.COM user Agreement and applies to the Over-The-Counter ("OTC") service on the website. The user Agreement and other terms and conditions of this website continue to apply to all website users. Please be sure to read and thoroughly understand this Agreement before proceeding with OTC trading through the website. If you proceed to the next step through this website or use the OTC trading service in any way, you are deemed to have read, understood and agreed to this Agreement. The Agreement may be modified, changed or updated by the website at any time without prior notice to you. You should frequently check to confirm that your understanding of this Agreement is current and accurate. If you continue to choose to use any of the services on the website after the effective date of any modification, alteration or update, in that case, you will be deemed to have accepted the newly modified, altered or updated version of this Agreement. All content on this website is available in multiple languages for users' convenience, and in the event of a conflict or omission, the Chinese language content shall prevail.


I. Definitions

1.1 OTC Trading: This is a service set up by DF.COM for the over-the-counter trading of digital assets. You can create sell/buy orders to sell/purchase digital assets on the OTC trading page and deal with the intended counterparty to allow the exchange of digital assets among the users. All users must ensure that the source of funds for OTC transactions is legal and reliable.

1.2 OTC trading rules: These include the user agreement, OTC trading rules and other agreements or terms, rules, implementation details, product flow descriptions, announcements, etc., published on this website and OTC trading pages and any subsequent published rules.

1.3 Digital Assets: Generally, these are non-monetary assets in the form of electronic data that have some value. In the context of this Agreement, Digital Assets specifically refer to the USDT-specific digital assets that the website allows to be traded between users.


II. User Specifications & Requirements

2.1 You shall ensure that you have the corresponding rights to the digital assets you intend to sell, or the payments you intend to make for purchases you intend to make on the OTC trading page. You shall not sell or purchase information on the OTC trading page that is not related to digital assets. Your acts of selling or purchasing or posting information shall comply with the requirements of the relevant laws and regulations of your sovereign country or region and the OTC trading rules, conform to social order and morality standards, and not infringe upon the legitimate rights and interests of any third-party subjects.

2.2 By posting a buy or sell order advertisement through the OTC trading services provided on this website or accepting a buy or sell order from another user, you agree to accept the price or quantity shown on the buy or sell order. Once you create or accept, the price of the transaction is locked in, and neither the Buyer nor the Seller can change or add any additional charges to this transaction. Throughout the transaction process, the digital assets involved in the trade order will be escrowed by our website until the Seller confirms receipt of full payment and confirms the collection operation on the OTC transaction page.

2.3 You shall complete the payment in accordance with the valid payment details provided to you by the Seller on the Fiat Currency Trading Platform. The payment method is the act of completing the payment between you and the counterparty, not through this website, but by yourself, including but not limited to Internet banking transfers, Alipay, WeChat transfer, etc. Any transaction disputes arising from payment channels other than the payment methods provided by the OTC trading service of this website are not related to this website, and this website will not bear any responsibility for such.

2.4 When you sell or purchase digital assets on the OTC trading page, please make sure you carefully confirm the type, price, quantity, or payment requirements, amount and other important matters regarding the digital assets you are selling or purchasing, and verify your or your counterparty's account information, collection and payment accounts and other information before concluding the transaction. If you fill in the collection account incorrectly or your payment account is not owned by you, you shall be fully responsible for the legal consequences arising from this action. Your relationship with the owner of the collection account is not related to this website.

2.5 You shall maintain the order of healthy competition in the fiat currency trading market, shall not disparage or denigrate your competitors, shall not interfere with any transactions or activities conducted on this website, shall not enhance or attempt to enhance your own creditworthiness in any improper way, and shall not interfere or attempt to interfere with the normal operation of this website in any way

2.6 If any of your actions on the OTC trading page disrupt, or will disrupt, the normal trading activities of the trading service, based on the need to maintain the standards of OTC trading and the safety of trading, this website has the right to take measures such as closing the relevant trading orders and restricting the use of the account when the above situation is discovered.

2.7 You shall abide by the principles of honesty and trustworthiness, ensure that the information you publish is legally compliant, valid, and effectively fulfil your commitments in the course of your transactions.

2.8 You shall pay taxes as required by the laws and regulations of your country or region.

 

III. Fees

3.1 At the current stage, our website does not charge users for OTC trading services.

 

IV. Dispute Handling of Digital Asset Transactions

4.1 If the buyer fails to pay for the order by the due time, the seller can make an appeal for arbitration. After such arbitration’s ruling, it will be deemed cancelled and cannot be disputed, overturned or changed

4.2 If a dispute arises between the Buyer and the Seller, either party may appeal through the website to resolve it. The website will decide to release the disputed digital currency to one of the two parties to the transaction based on the terms of the transaction, evidence of payment, and the relevant provisions of the Website's User Agreement.

4.3 In the event of a dispute over a transaction, the Buyer shall provide proof of payment within 24 hours, including screenshots of the transfer of funds, transaction numbers, etc., as required by the website. If there is reason to believe that the Buyer may have engaged in fraudulent activity, in that case, the website may provide the Buyer's information to the Seller to enable them to recover the funds and help in detecting or preventing fraudulent activity. The extent of information disclosure will be to the extent we believe necessary to achieve the above purposes. Disclosure of information includes, but is not limited to, Buyer's contact information, login and transaction history or any details and records, and Buyer's identification details used on the website.

4.4 It is considered a breach of this Agreement to provide fraudulent information or documents in a dispute, make a false claim, or otherwise attempt to force a transaction in one's favour.

 

V. Liability Statement & Disclaimer

5.1 This website only provides OTC trading services to you, and you understand that the proposed sale or purchase information on the OTC trading page is released by users themselves and may contain inaccuracies, or there may be risks involved. This website will establish a suitable inspection and monitoring system in accordance with the law to protect your legal rights and interests in order for you to have a good experience in OTC trading as far as possible. At the same time, given the large amount of information available regarding OTC transactions and the characteristics of real-time information changes in the information network environment, this website is unable to review the information on proposed sales and purchases and the resulting transaction information individually, so you should carefully consider each transaction that you make.

5.2 Due to the special nature of digital asset transactions, you need to pay extra attention to risks relating to anti-money laundering and ensure you know the identity of your counterparties as required by KYC principles, otherwise, you may face risks such as asset freezing if there is any suspected criminality relating to your counterparties.

5.3 If the information you post on the OTC trading page constitutes a breach of contract, the website may immediately delete or block the corresponding information or takedown or regulate the information you post according to the corresponding rules. You shall be responsible for any loss of assets and profits directly or indirectly caused by this.

5.4 If you use the OTC trading services in violation of relevant laws and regulations or violate the OTC trading rules, the website has the right to restrict or freeze your account or account assets and take other reasonable measures to prevent the spread of any adverse consequences to the website or third parties caused by your illegal actions.

5.5 If your actions cause the website to suffer losses (including its own direct economic losses, loss of goodwill and indirect economic losses such as compensation, settlement payments, attorney's fees, litigation costs, etc.), you shall compensate the website for all the above losses. If your actions cause this website to have to settle claims made by a third-party, this website may recover all the losses from you after being obliged to pay money to the third-party.

 

VI. Commitment to Asset Legality

6.1 You undertake that the source and use of the assets entrusted by you are legal and not in violation of the rules of public fundraising and comply with the requirements of relevant anti-money laundering laws and regulations. DF.COM has the right to request you to provide proof of the legality of the source and use of the assets and to investigate the source and use of the assets and their legality, and you must be willing to cooperate.

You undertake to strictly comply with the above commitments, and if the entrusted assets source are found to be illegal, then DF.COM has the right to restrict you from withdrawing the assets in accordance with the law. You shall bear all the losses and legal responsibilities caused by this.

6.2 The final right of interpretation of this Agreement belongs to DF.COM.