TERMS AND CONDITIONS AND PRIVACY POLICY

GENERAL WEBSITE AND ARAWCOIN TERMS AND CONDITIONS

You must read these terms and conditions (thereafter called “terms” or “agreement”) very carefully before using our services as described herein. Your use of our website in any way, as well as the products and services offered through it shall be taken as your acknowledgment that you have read these terms in full and will be legally bound by them. If you disagree with one or all of the terms herein described, you are automatically disqualified from using our website, products and services, and must discontinue using this website in that case.

Loyalty Wallet Ltd (referred to hereafter as the Company), operators of the website and issuers of ArawcoinsArawcoins, reserves the right to review, modify, add to or delete portions of these terms for any reason at any time, based solely on our discretion. Such changes will be effective immediately upon posting. This is why you must check back occasionally to familiarise yourself with our updated terms.

In particular, The Company may change these terms after the products (platform) have been developed and after their public release. Please note that this agreement is focused mostly on the distribution of Arawcoins.

You are not to take this document or any other document, created and signed by The Company, as an offer of or solicitation to sell shares and securities in The Company, the website or any of the products offered thereto. Furthermore, you are not to take any of the information or analyses provided on this website as the basis for your investment decisions, as we do not intend any specific recommendations.

This document shall not in any way be deemed investment advice, financial counsel or solicitation for investment in any security.

Acquisition of crypto coins from The Company does not present an exchange of such coins for any form of ordinary shares in The Company or the website. As a holder of any Arawcoins, you are not entitled to any guaranteed form of dividend or any other revenue.

While Arawcoins are available to users in exchange for certain other crypto coins, we do not guarantee the exchange of Arawcoins for real currency. The Company explicitly disclaims all liability for any direct or indirect loss, hurt or damage of any type whatsoever resulting whether directly or indirectly from: dependence on any information available in this document; any fault, omission or imprecision in any such information or; any action resulting therefrom the acquisition or use of products and services available through the website.

ELIGIBILITY

The website, the Platform and Arawcoins are not provided for use to natural and legal persons who are citizens of countries listed on OFAC sanctions lists. Natural and legal persons living in or with a seat of incorporation from such restricted areas are not eligible to use the website, the Platform and Arawcoins.

Because Arawcoins are offered on the Internet, Loyalty Wallet Ltd and users understand that there is a likelihood that there might be “flow back” of Arawcoins to natural and legal persons resident or incorporated in the restricted areas. The Company thus expressly prohibits persons from such areas from using the Arawcoins. The Company reserves the right to decide using its discretion to adopt sensible organizational and technical measures to ensure that the website and Arawcoins are not available to persons from restricted areas.

If you are registering to use the Platform and Arawcoins on behalf of a legal entity, you represent and warrant that such legal entity is organized and validly exists under the appropriate laws of the jurisdiction of its organization; and that you are duly ratified by such a legal entity to act on its behalf.

You further represent and warrant that you are of a legal age and able to form a binding contract; have the full power, authority and/or release to enter into this agreement and in so doing will not breach any other agreement to which you are a party; and are not located in or a national or resident of any.

You also certify that you have not been placed on any of the sanctions lists, published and maintained by the European Union, United Nations, any EU country, UK Treasury and US Office of Foreign Assets Control (OFAC).

You must not use Arawcoins if any relevant laws in the jurisdiction of your habitual residence or incorporation ban you from doing so in agreement with these terms.

To qualify to use Arawcoins, you represent that you have a good understanding of the operation, usage, and storage of crypto coins, smart contracts, and blockchain-based software. You also certify that you have carefully read the content of this document and that you understand and agree with these terms; and that you have obtained and was given sufficient information about the Arawcoins to make an informed decision to acquire them.

You agree to contribute Ether (ETH) from a Wallet or Wallet service provider that technically supports the ArawCoin; and understand that the Arawcoins only confer the right to use and access the Platform, and confer no other privileges with respect to the Platform or The Company, such as voting in annual general meetings, right to dividends or other distribution or other financial or legal rights.

You understand that your acquisition of Arawcoins must be in compliance with applicable laws and regulations in your jurisdiction, including without limitation the legal capacity and any other threshold requirements in your jurisdiction for purchasing the coins, using the coins in the platform, and entering into contracts with us, and/or any foreign exchange and/or regulatory restrictions applicable to such purchase.

You also agree to acquire any governmental or other consent that may need to be obtained.

THE PROJECT

The Arawcoin project is a platform that is combining ecommerce and loyalty, providing a web based connection that provides a bridge between brands and their customers and audiences, with the focus of our foray into blockchain being digital loyalty.

The project will integrate with major point-of-sale providers, and provide ArawCoin with the intention of creating a unifying reward ecosystem through the E-commerce platform.

The Loyalty Wallet system includes a new virtual currency (Arawcoin), a digital wallet, the Loyalty Wallet app, the Loyalty Wallet Platform and an alliance of supporting merchants, and will create a value-focused, digital-based rewards system that will outperform traditional rewards programmes.

Customers will be more engaged with businesses’ loyalty programmes and acquire better rewards for their consumption. This digital coin will serve as the medium of exchange in the rewards system, and customers can earn the coin when making purchases at participating merchants. Arawcoin is then returned to merchants when customers redeem available rewards.

When customers earn Arawcoins, they can then use it in more ways than traditional customer loyalty programmes offer. Customers can use the points earned from one merchant to acquire rewards from other merchants within the LoyaltyWallet system. This thus allows customers to do business across several industries without restriction.

Arawcoins are intended to facilitate peer to peer payment; and facilitate micro payments between customers and merchants.

The project also includes the Loyalty e-commerce platform, which is set to accept both crypto payment and fiat payment. Customers can pay for goods and services using either real money, our ArawCoin or any of the other globally accepted crypto coins.

The Platform is developed and is run on public Ethereum network as well as other underlying technologies.

As a user, you understand and accept that the Project is still in alpha development phase and still needs considerable development work. You understand that an upgrade of Platform and/ or Arawcoins may be later required as a result of unexpected substantial technical, conceptual and commercial changes before the final release or after the release of the Platform. Should you decline to participate in such an upgrade, you may no longer use your Arawcoins. You also understand that non-upgraded Arawcoins may fully lose their functionality.

RISKS

You understand and accept that digital assets, blockchain technology, Arawcoin, Ethereum, Ether and other associated technologies are still new and relatively untested outside of Loyalty Wallet Ltd’s exclusive control. You understand that adverse changes in the technology or in market forces, broadly interpreted, will excuse The Company’s performance under this agreement.

You also accept that you have been warned of the following risks, related to the website, Arawcoins, the digital assets, the platform and other significant technologies mentioned herein:

  • Legal risks;
  • Ethereum-related risks;
  • Risk of low or no liquidity;
  • Theft and hacking risks;
  • Risk of loss of value;
  • Risk of uninsured losses;
  • Risk of security weaknesses in the website and Arawcoins source code;
  • Exploitable breakthroughs in cryptography;
  • Unfavourable regulatory action;
  • Risk of mining attacks;
  • Internet transmission risks;
  • Inadequate interest in The Company, the platform and Arawcoins;
  • Arawcoins and the Platform may not meet your expectations;
  • Risk of the platform not being finalized or released;
  • Risks related to partnering projects; and/or
  • Unexpected challenges and dangers.

FINANCIAL REGULATION

Arawcoins and the Platform are unregulated. The Company is closely monitoring changes to legislation in the most important jurisdictions in the world and undertakes to act as required, if regulatory changes affect the operations of Arawcoins and the Platform. The Company is not a financial institution and is currently not supervised by any financial supervisory authority. The Company does not make available any licensed financial services like capital raising, investment services, investment advice or fund management. ArawCoin distribution should not be regarded as a public offering of equity or debt and thus does not fall under the securities or any prospectus regulation. This document and other documents, produced and signed by The Company, and the website, and its content does not establish an offer or solicitation to trade shares or securities.

The information or the analyses presented by us are not intended to help users form the basis for any investment decision. The Company services and the website are not, do not offer and shall not be viewed as financial or investment products.

The Company undertakes to liaise with governmental legal authorities, regulators or supervisory authorities of any country, as is required.

TAXES

You alone bear all responsibility for factual and potential taxes. The Company will under no circumstances be obligated to compensate you for your tax obligations. We do not give any advice related to tax issues, including without limitation what kind of filing or reporting you may need to do with relevant tax authorities, which taxes and to which degree you are obliged to pay, and to which tax exemptions you are eligible to etc.

BUSINESS PLANS AND ROAD MAPS

Business plans, development road maps and other similar materials, published in the Website or elsewhere, are not binding and do not form part of this agreement, and are of a descriptive nature only.

INTELLECTUAL PROPERTY

All rights, titles and interests in all of the intellectual property, including inventions, discoveries, marks, processes, compositions, methods, formulae, techniques, source code, information, graphics, brand names, text, logos, user interface design, images, and data pertaining to the Platform, whether or not copyrightable, patentable or protectable in trademark, copyright or patents based thereon is held by The Company. You are not to use any of our intellectual property for whatever reason, except with our express prior, written consent.

These Terms shall not be comprehended and translated in a way that they would mean assignment of our intellectual property rights, unless it is expressly so defined in these Terms.

We grant users a non-exclusive, non-transferable, and reversible license to access and use the website, the platform and Arawcoins only in compliance with these Terms. As a condition of your use of the Website and the Arawcoins, you warrant to The Company that you will not use the Website, the Platform or Arawcoins in any manner that is unlawful or proscribed by these Terms. You are not to use the Arawcoins in any way that could disable, damage, impair, or overburden the Website and the Platform. You may not acquire or attempt to obtain any materials or data through any means not intentionally accommodated or provided for through the Website and Arawcoins. Restriction to the transferability of license shall not be assumed in a way that the users are not allowed to transfer Arawcoins to third parties.

All Loyalty Wallet Ltd intellectual property is the property of Loyalty Wallet Ltd and is protected by copyright, trademark and all other laws that protect intellectual property as well as proprietary rights. You must observe and comply with all copyright and other proprietary notices, legends or other limitations contained in any such content and must not make any changes thereto.

You are prohibited from modifying, publishing, transmitting, reverse engineering, participating in the transfer or sale, creating derivative works, or in any way exploiting any of the Company’s intellectual property, whether in whole or in part, found on the website or connected products and services. Loyalty Wallet Ltd intellectual property is not for resale.

You understand and accept that your use of the Loyalty Wallet Ltd intellectual property does not entitle you to make any unauthorized use of any Loyalty Wallet Ltd intellectual property, and in particular you will not delete or alter any proprietary rights or attribution notices in any Loyalty Wallet Ltd intellectual property. You will use Loyalty Wallet Ltd intellectual property solely for your personal use, and will make no other use of Loyalty Wallet Ltd intellectual property without the express written permission of the Company and the copyright owner. You agree that you do not acquire any ownership rights in any the Company’s intellectual property. We do not grant you any licenses, express or implied, to the intellectual property of the Company except as expressly authorized by these Terms.

DISCLAIMERS/LIMITATION OF LIABILITY

Loyalty Wallet Ltd provides the Arawcoins and the Platform on an “as is” basis. We, our associates and licensors do not make any representations or warranties of any type, be it direct, implied, statutory or otherwise concerning Arawcoins, including any warranty that the Arawcoins and the Platform will be uninterrupted, mistake free or free of injurious components, secure and/or not otherwise lost or damaged.

Except to the degree prohibited by law, we and our associates and licensors expressly disclaim all warranties, including without limitation any implied warranties of satisfactory quality, merchantability, fitness for a particular purpose, enjoyment, or non-infringement, and any warranties emerging out of any course of dealing or usage of trade.

The Company, its associates and their respective managers, employees or operators will not be answerable to any user or third parties for any damages of any kind in regard to the website, the Platform and Arawcoins, including without limitation direct, considerable, coincidental, extraordinary or indirect damages such as lost profits, transaction losses or harms resulting from the use or loss of use of this website, Platform and Arawcoins, even if The Company has been informed of the likelihood of such damages or harms, including, without limitation, from the use or the attempted use of Arawcoins, the website or the Platform.

Neither we nor any of our subsidiaries or licensors will bear responsibility for any reimbursement, compensation, or harms arising from your inability to use the website, the Platform or Arawcoins, including without limitation any event resulting from any dissolution or suspension of the Ethereum network or these terms, as a result of power blackouts, defects, maintenance, system failures or any other interruptions; the cost of obtainment of substitute goods or services; any expenditures, investments, or commitments made by you in association with this agreement or your use of the website, the Platform and Arawcoins; or any unapproved access to, modification of, or the erasure, obliteration, damage, loss or failure to store any information, including records, private key or any other credentials, related to the website, the Platform and Arawcoins.

You waive your right to request the return of crypto coins once you have exchanged them with us for the purpose of procuring Arawcoins, including but not limited to a demand for specific performance.

The information, software, products, and services incorporated into or accessible through the Website and the Platform may contain mistakes or typographical blunders. We or potentially our providers may also make upgrades as well as changes to the website and the Platform whenever we deem necessary to do so.

The Company gives no assurances about the suitability, quality, accessibility, timeliness, and accuracy to the Website, the Platform, Arawcoins, software, information, products, services and other related graphics available on the Website for any purpose.

To the full degree allowable by applicable law, the website, the Platform and Arawcoins, all such information, products, software, services and related graphics are provided "as is" and come without any warranty or condition of any kind.

The Company hereby disclaims all conditions and warranties with respect to the website, the Platform, Arawcoins, software, information, products, services and related graphics, including all indirect conditions or warranties of merchantability, title, fitness for a particular purpose, and non-infringement. You warrant to Loyalty Wallet Ltd that you will not in any way use the Website, the Platform or the Arawcoins for unlawful or prohibited purposes, as determined by these terms. You may not use the Platform or Arawcoins in any way that could disable, damage, impair, or overburden the Platform, Arawcoins or the website.

INDEMNITY

You will protect, reimburse, and hold us, our affiliates and licensors, and each of their respective workers, officers, chiefs, and agents blameless from and against any cases, harms, misfortunes, liabilities, expenses, and costs (counting reasonable lawyer charges) emerging out of or relating to any third party claim concerning this Agreement or your usage of the website, the Platform and Arawcoins contrary to these Terms.

If we or our associates are obligated to respond to any third-party subpoena or other mandatory legal order or process as described above, you will reimburse us for sensible attorney fees, as well as our contractors’ and employees’ time and materials spent reacting to such third-party subpoenas or other compulsory legal requests or process at reasonable hourly rates.

SECURITY

As a user, you must use reasonable measures designed to secure and restrict third party access to any gadget associated with the email address related to your user account with the Platform; the private keys used to access any relevant Ethereum address; and your username, password as well as all other login or identifying credentials of the Platform.

In the event that you suspect a breach of security in any of the above mentioned, you are to advise us as quickly as possible so that we can take necessary measures to secure your account, the website, the Platform, Arawcoins and our systems as a whole.

In the event that you are no longer in possession of any device associated with your account or are not able to provide your login or identifying credentials to the Platform, we may, if we are able to and in our sole discretion, grant access to your account to any party making available additional credentials to us. We unequivocally reserve the right to decide the additional credentials required, and this may include but is not limited to a sworn, notarized statement of identity.

DELAY OR INABILITY TO PERFORM

We and our associates will not be answerable for any delay or inability to perform any duty under this Agreement where the delay or inability is as a result of events beyond our reasonable control, including without limitation acts of God, industrial disturbances, labour disputes, telecommunications, electrical, software, hardware or other crypto failures, storms, earthquake, or other elements of nature, embargoes, blockages, acts or orders of government, riots, acts of terrorism, war, changes in blockchain technology (broadly interpreted), changes in the Ethereum or any other blockchain protocols or any other events outside of our control.

INDEPENDENT CONTRACTORS

You agree that the relationship between us is that of independent contractors, and neither of us, nor any of our respective affiliates, is an agent of the other one for any purpose or has the license to bind the other. Both parties reserve the right to develop or commission another entity to develop for it products, concepts, services, systems, or techniques similar to or competing with the products, concepts, services, systems, or techniques developed or planned by the other party. Both parties may also assist third party developers or other systems integrators who offer products or services which are competing with the other party’s’ products or services.

NO THIRD PARTY RIGHTS

These Terms do not in any way create any third-party beneficiary rights in any person or entity.

You may not assign these Terms, or appoint or sublicense any of your rights under these Terms, without our express written consent. Any transfer or assignment contrary to this agreement will be void. Subject to the prior, these Terms will be binding upon, and inure to the benefit of both parties and their respective successors and assigns.

WAIVERS

Our failure or omission to enforce any provision of this agreement will not constitute a waiver now or in the future of such provision nor will it restrict our right to enforce such provision in future. All waivers by us must be in writing to be effective.

Except as otherwise granted herein, if any provision of these Terms is held to be unenforceable or invalid, the rest of these Terms will remain in full force and effect. Any unenforceable or invalid portions will be construed to affect the intention of the original portion. If such construction is impossible, the unenforceable or invalid part will be severed from these Terms, while the remaining of the Terms will remain in full force and effect.

CLAIMS/DISPUTES

All claims or disputes arising out of these Terms including disputes relating to its breach, validity, nullity or termination, and any claims or disputes arising out of or in association with the use of Website, the Platform and Arawcoins shall be finally settled under the Rules of Arbitration of the International Arbitral Centre of the Austrian Federal Economic Chamber in Vienna (Vienna Rules) by three arbitrators appointed in accordance with the said Rules. The language to be used in the arbitral proceedings shall be English.

Prior to filing any claims, you undertake to file such claim or request directly to The Company via e-mail, and will not file any claims earlier than 30 days after sending such claim or request to The Company. Any claim that is filed with the arbitral tribunal contrary to the rules set forth under this section shall be immediately rejected by the tribunal as premature.

TOTAL AGREEMENT

These Terms represent the complete agreement between you and Loyalty Wallet Ltd regarding the subject matter of these Terms, in particular the use of the Website, the Platform and Arawcoins. These Terms succeed and supplant all prior or concurrent representations, agreements, understandings, or communications between you and The Company, whether written or not, regarding the subject matter of these Terms.

We will not be bound by any term, provision or other condition which is different from or is in addition to the provisions of these Terms and which is submitted by you in any receipt, order, confirmation, acceptance, correspondence or other document.

NOTICES

We may provide any notice to you under this Agreement by sending an email to the email address linked to your account; or by posting a notice on the Website.

You understand and accept that notices that we provide by posting them on the Website will be effective immediately upon posting and notices provided by email will be effective immediately after we send the email. You are responsible for ensuring that your email address is current, and you will be deemed to have received an email that we send to the email address linked to your account at the time that we send the email, whether or not you actually get or read the email.

You must contact us by email to give us notice under this Agreement. You agree that we may update our email address for notices to us by uploading a notice on our Website. Notices to us will be deemed effective one business day after they are sent.

All communications and notices to be made or given according to this Agreement must be in the English language.

GENERAL WEBSITE AND ARAWCOIN PRIVACY

As a principle, we will only collect what information we need and will not disclose your personal information to any third parties other than our identity verification partner, if applicable. Access to your personal information within The Company is also limited to a subdivision of employees who work on identity and verification compliance matters. Loyalty Wallet Ltd is the only data controller and processor.

INFORMATION COLLECTED

Voluntarily provided information: You will provide to Loyalty Wallet Ltd, immediately upon our request, information that we, in our sole discretion, believe to be required to preserve compliance with any law, policy or regulation. Such documents include without limitation passports, crypto bills, driver’s licenses, government identification cards, photographs of you, or sworn statements.

Loyalty Wallet Ltd reserves the right to request documentation, prior to activating your user account at any of The Company and the Platform services. The Company may refuse you access to the Platform, Arawcoins and website if we doubt the validity, genuineness and authenticity of the documents so provided by you. We may collect and store information such as contact information, including your name, contact address, phone, email and other comparable information. We may ask you to provide extra information such as your date of birth, tax identification number, passport number, or any other information which may be used for personally identifying you.

Automatically collected information: When you visit the Website, or make use of our products, we gather information sent to us by your computer, phone, or other access gadget. This information may include your device information including identifier, name, and type, mobile network information, operating system, and standard web log information. This also includes your browser type, and the pages you viewed and visited on our Website.

When you use a location-enabled device, we may gather geographical location data or use different ways to determine your location. We will however not release your personally-identifying information to third parties without your consent.

We may also get information about you from third parties providing identity verification services.

USE OF YOUR INFORMATION

We will never sell your personal information to third parties. We may however use your information in the following ways:

In combination with information collected from other companies so as to improve and personalize the Website and our products, content and advertising.

To provide you with necessary information about products or services that may be of interest to you.

We may however share your personal information with:

Our banking partners;

Companies that we intend to merge with or will be acquired by;

Third party identification services providers for the purpose of preventing fraud;

With appropriate legal authorities and governmental bodies if we are compelled to do so i.e. in connection with a court order;

With third parties based upon your authorization.

COOKIES

We use "cookies" on the website to deliver a seamless registration and log in experience for our users. The use of cookies in this way will not put in our possession information beyond what you freely make available to us. You may choose to allow or reject cookies on your web browser or device, but please note that denying cookies may bar you from using many unique features that enhance our website experience.

SECURITY OF INFORMATION

We store and process your personally identifiable information on our servers in the EU and protect your information using physical, practical, and administrative security measures to lessen the risks of misuse, loss, unauthorized access, alteration, and disclosure.

We however, will not bear liability for any unauthorized access or loss of private information that is outside our control, because there is no total security guarantee for data transmissions made over the Internet.

THIRS PARTY LINKED SITES

There are links to other websites on our website, and these linked websites may have privacy policies that are significantly different from our own. We are not in any way answerable for the activities, practices or privacy policy of linked websites. We therefore recommend that you read and review these privacy policies before using these linked websites.

TRANSFERING YOUR DATA

It is our policy to transfer and store in the EU any information that we obtain from you. We may also transfer such information and store it in other places outside the European Economic Area (EEA). Your data may also be handled by staff operating outside the EEA who work for The Company or for one of our service providers.

By submitting your private data, you are in agreement with this transfer, storage, or processing. We will take all reasonably necessary steps to see to it that your data is treated safely and only in harmony with these Terms.

You accept that these third parties may be located in countries where laws on processing private information may be less strict than in your country.

UPDATING YOUR INFORMATION

You have the choice of accessing, reviewing and editing your personal information any time you desire by logging in to the Website using your account credentials