Updated on October 22, 2019
Preamble
Welcome to use the Advertiser services provided by the Huobi OTC Platform!
This Agreement is concluded by and between Huobi OTC (hereinafter referred to as "the Platform" or "us") and the "Advertiser" on the Platform (hereinafter referred to as "You"). Upon your application to use or your use of the permission to place advertisement via relevant interfaces of our website, API (if any) or mobile application, it shall be deemed that You have fully and carefully read, understood and voluntarily accepted all relevant rules announcements in this Agreement and related service pages, including any changes, amendments or changes we may make to this Agreement at any time and any new rules and regulations that may be issued from time to time in the future (hereinafter collectively referred to as "this Agreement"). If You do not agree with this Agreement or the revised rules, please promptly stop using the Platform's Advertiser services and apply to the Platform to disqualify yourself as an Advertiser.
Important Statement:
- Upon your successful application for and receipt of the permission to release advertisements, You shall be bound by this Agreement, the User Agreement, the Advertiser Credit Points Management Rules and various other rules and announcements related to the Platform.
- 2. This agreement shall formally come into force as of the date of promulgation thereof and will be revised or amended from time to time. The revised or amended version of these Rules will come into force for You as of the date of promulgation thereof; if any content in this Agreement becomes inconsistent with these rules as they are updated and promulgated, such updated and promulgated agreement shall prevail.
- The Advertiser, as an independent trader on the Platform, has the right to release advertisements after it has been duly verified and certified by the Platform and has its security deposit locked up; however, it does not mean that the Advertiser is 100% trustworthy, nor does it mean that there is any guarantee between the Platform and the Advertiser. We will not use our brand name or credit-worthiness as an endorsement for any violation of the Platform's rules and regulations by the Advertiser, nor will we be held jointly liable for any adverse consequences caused by the Advertiser.
- The Advertiser shall ensure that its use of the services under this Agreement shall be exclusively for legitimate purposes. It is strictly prohibited for You to use the Platform and the privileges it enjoys to engage in any illegal transactions or illicit activities such as money laundering, smuggling, commercial bribery, malicious market manipulation or interference with the trading system. If the Platform verifies that You violate any of the above-mentioned provisions, we shall have the right to adopt a number of punitive measures against You, including but not limited to imposing restrictions on or freezing your account restrictions, revocation of your qualification as an Advertiser, deduction from your assets used as security deposit, reference of your case to the competent judicial authorities, etc., and furthermore, we shall not be held liable for any losses caused by you or any related third party.
Article 1 Scope of Application
The services under this Agreement are applicable to users in the following three categories, hereinafter collectively referred to as "the Advertisers":
1.1 The V-plus Users and Super-V users who apply for certification through the Platform, that is, users who have officially obtained the "Advertisement Publication Qualification";
1.2 Users who have locked up a certain amount of its assets on the Platform as a security deposit, although its application materials for certification as advertisers have not passed the examination;
1.3 Users whose voluntary application to have their qualification as Advertisers canceled has not passed the examination and whose security deposit assets remain locked in their accounts with the Platform.
Article 2 Content of Services
After You apply for and pass the Platform’s certification, You will be qualified to publish advertisements and officially become an Advertiser on the Platform. In addition to the rights that regular users of the Platform are entitled to, You will also enjoy the following services provided by the Platform:
2.1 Advertisement Publication Service: In order to facilitate the Advertiser users to conduct transactions in a more convenient and flexible manner, You will enjoy corresponding advertisement publication rights after becoming an Advertiser.
In particular, V-plus Users are free to publish advertising in ordinary trading areas, and have the right to release currency-selling advertisements, but not currency-buying advertisements, in the bulk trading areas; Super-V Users are not subject to the above restrictions and can freely publish all types of advertisements in both the ordinary trading areas and the bulk trading areas.
Please note: After You have obtained the advertising permission, You shall be obliged to report all Your collection and payment methods to the Platform. If Your bank account used for the above-mentioned collection and payment is frozen subsequently, You or a person duly authorized by You shall timely fill in and submit the Registration Form for Frozen Account Information, so that the Platform can adopt relevant countermeasures.
2.2 One-to-One Services: in order to improve the transaction efficiency and ensure effective processing of possible order-related complaints, we provide one-to-one exclusive service to the Advertisers.
2.3 Exclusive Logo: in order to enhance trust in the transaction and make it easier to distinguish advertiser-users from ordinary users, we will display a corresponding exclusive distinctive logo on the cyber name of the users who have become Advertisers (among them, high-quality Advertisers can become Blue Shield Merchants after they meet certain criteria, and a blue shield logo will be added to the icons of such Advertisers.), which shall be subject to the Rules on Blue Shield Services published on the Platform.
2.4 Other Provisions: The Platform may launch other new products and services for Advertisers at any time in accordance with adjustments brought about by changes in its business policies, and may also adjust and upgrade existing products and services at any time. For specific updates on service content, please refer to those announced on the website service page and product interfaces.
Article 3 Application for Certification
In order to improve transaction security and the credibility of the Advertiser's user identity, the Platform provides You with the certification services in connection with the Advertiser's qualification application.
3.1 Certification Materials:
Specifically, You need to provide the following certification materials in the process of applying for permission to release advertisements: your mobile phone number, email address, WeChat account number, your emergency contact and his/her telephone number and relationship with you; address of your registered permanent residence; a photocopy of the page specifically on you in your household registration booklet; certificate of your address (e.g., housing property ownership certificate, housing rental contract or utility bill); video proof (to be recorded in accordance with the sample), and other materials required by this Platform for compliance and safety purpose, provided, however, we do not guarantee the accuracy and absolute authenticity of the user’s identification results during the examination thereof.
3.2 Application Process
(1) You submit the materials required for application for advertiser qualification. Please refer to paragraph 3.1 of this article for details of such application materials;
(2) Upon receipt of the application materials submitted by You, the Platform will conduct KYC and anti-money laundering compliance reviews on You on the basis of these materials;
(3) After You pass the Platform's examination and certification, the Platform will provide You with an exclusive “V-Plus” or “Super V” logo, thus distinguishing You from ordinary users; At the same time, You need to lock the agreed amount of assets as security deposit into the security deposit account for the Advertiser, provided that You will not be able to use assets in such account in any transaction or transfer such assets in the account until You are disqualified as an Advertiser.
3.3 Application Description
(1) Update of Application Materials:
The application services are identification services provided by the Platform. Unless otherwise agreed in this Agreement, once You have completed Your application in Your account with the Platform, the corresponding identity information and application results will not be modified or canceled for any reason whatsoever. If Your identity information changes after the certification are completed, You should provide the Platform with the certification of such change as is issued by the corresponding competent authority, and the Platform will assist You in changing the application information corresponding to Your account.
(2) Management of Application Materials:
For the certification materials submitted to the Platform by You in the application process, upon submission thereof, it shall be deemed that You irrevocably authorize the Platform to retain such certification materials. The Platform promises not to disclose, edit or reveal Your certification materials except for legal or agreed reasons, and not to use the non-public content stored on the Platform for commercial purposes, except for under the following circumstances where You authorize the Platform to disclose relevant information: 1. where The Platform provides such materials to any competent state judicial or administrative authority; 2. where the Platform provides such material to any of our affiliated enterprises; 3. where a third party and the Platform jointly provides services hereunder to users, and the third party needs such materials in order to provide You with such services (excluding Your bank account information); 4. where You and a third party are involved in a civil dispute, We have the right to disclose such materials to the third party in order to resolve such dispute. The protection of other privacy shall be subject to the terms and conditions of the privacy policies published on the Platform.
Article 4 Assets Used as Security Deposit
4.1 Description of Assets Used as Security Deposit:
In order to ensure the safe and smooth proceeding of Your transaction on the Platform, after the Advertiser passes the Platform KYC and anti-money laundering review, the Platform will require the Advertiser to deposit and lock up a certain amount of assets in its exclusive account as a security deposit for the transaction. The specific requirements for ensuring the amount and type of such assets will vary in accordance with Your nationality and Your permission to release advertisements on the Platform. The specific requirements shall be subject to those shown in the certified personal information of the Advertiser on the Platform.
4.2 Deduction of Security Deposit Assets:
4.2.1 We shall have the right to deduct part or all of Your Security Deposit Assets, if You, as an Advertiser on the Platform is under any of the circumstances below:
(1) Where the Advertiser has a dispute in the transaction process, and the Advertiser is judged by the Platform to be at fault and should therefore be held liable for such dispute and perform the corresponding obligations, while the Advertiser refuses to cooperate after being so notified, and thereby causes damages to any other user;
(2) Where the Advertiser seriously or repeatedly violates the Advertiser Credit Points Management Rules and is punished in accordance with the corresponding implementation rules of the Platform;
(3) Where the Advertiser uses the Platform to engage in any illegal conduct or illicit conduct, such as money laundering, illegal disguised evasion of foreign exchange regulation or illegal arbitrage of foreign exchange, malicious manipulation of transaction prices, the malicious undermining of transaction order, inter alia.
(4) Where the Advertiser uses any brand name of Huobi to engage in false publicity or generate any malicious misleading association with Huobi, and thereby damages the reputations of the Platform’s brand names;
(5) Where the Advertiser rents multiple cards of any other person without proper authorization, or uses the bank card registered under the name of any other person, for the purposes of making and receiving payments, money laundering or any other illegal purposes, and thereby causes any damage to any relevant user or third party;
(6) Where any order of the Advertiser is irregular and is subject to any complaint that remains to be processed, and yet it is impossible to contact the Advertiser due to any other objective reason (e.g., where the Advertiser is placed under detention by the police);
(7) Where the Advertiser commits any violation of this Agreement or any other legal document on the Platform, or any of the trading rules of the Platform;
(8) Where the Advertiser fails to timely report to the Platform as is required after the Advertiser’s means of making and receiving payments is frozen;
(9) Where the Advertiser engages in any unauthorized cross-platform transaction, and designate the account it uses to make and receive payments on the Huibo Platform as the payment account for any other platform involved in such cross-platform transaction, and in so doing, fails to put in place effective separation of risky funds, resulting in the freezing of the account of any other user;
(10) Other circumstances where the Platform reasonably determines that deductions should be made from the Security Deposit Assets.
4.2.2 The amount deducted from the Security Deposit Assets should be determined in accordance with the severity of the actual consequences after the risk control assessment by the Platform:
4.2.2.1 Generally, the amount deducted shall be limited to the compensation for the actual losses sustained by the user. However, if the Security Deposit Assets are inadequate to cover the losses sustained by the user, we, in addition to deducting all your current Security Deposit Assets, shall have the right to require You to provide an additional amount of Security Deposit Assets, with the specific amount thereof subject to the final confirmation by the Platform.
4.2.2.2 Where it is verified by the Platform that You are under any of the following special circumstances, we shall have the right to directly deduct all Your Security Deposit Assets:
(1) Where the Platform can reasonably prove that the Advertiser directly participates in or assists any person in money laundering or has any other illegal and illicit behavior;
(2) Where the Advertiser engages in any cross-platform OTC trading on any platform that does not have adequate basic risk-control capabilities (e.g., KYC), and is proven to have been involved in money laundering;
(3) Where the Advertiser, in the absence of proper authorization, forms any trade group or participates in community trading, and in so doing, fails to retain records on KYC and other basic information on the trading partners, as a result of which, illegal assets flow into Huobi.
(4) Where due to payment transfers by the Advertiser, the bank cards of more than three(3) users are frozen, and in this case, the Advertiser refuses to provide assistance to the efforts to resolve such freezing.
(5) Where the Advertiser who uses a bank card to make and receive payments refuse to report to the Platform as is required after such bank account is frozen for many times; or the Advertiser fails to report to the Platform after the bank account is frozen as a result of which any other user sustains any substantial losses or other serious negative consequences.
Article V Revocation of Advertiser Qualification
5.1 Where the Advertiser voluntarily applies to have its permission to publish advertising revoked
If the Advertiser needs to cancel its certification as an advertiser due to its own reasons, the Advertiser shall submit an application to the Platform to cancel its advertiser qualification. If the Platform, after receiving the cancellation application, confirms that the Advertiser is not involved in any unresolved dispute, or the Advertiser is free of any bad record, inter alia, the Platform shall complete the certification revocation within two(2) working days, and transfer the remaining assets in the Security Deposit Asset account to the receiving account designated by You.
5.2 Where the Platform unilaterally revokes the Advertiser’s permission to publish an advertisement
Where the Advertiser is under any of the following circumstances, the Platform shall have the right to unilaterally revoke Your advertiser qualification:
(1) Where numerous complaints are lodged by users of the Platform against the Advertiser in past transactions;
(2) Where there is any false information in the application materials submitted by the Advertiser;
(3) Where the Advertiser has committed fraud or any other dishonest conducts such as fraud in the transaction or giving rise to negative publicity that maliciously damages the reputation of the Platform;
(4) Where the Advertiser, less than fifteen(15) days after passing the examination, fails to pass the questionnaire-based assessment for the advertisers or fails to participate in the questionnaire-based assessment.
(5) Where the Advertiser, within less than thirty (30) days after passing the examination, has a total of twenty(20) of its credit points deducted.
(6) Where the credit points of the Advertiser are fewer than sixty(60);
(7) Where the Advertiser fails to cooperate with the Customer Service Department of the Platform in processing orders or intentionally delays the processing of orders by the Customer Service Department;
(8) Where the Advertiser maliciously take advantage of any loophole in the rules of the Platform to seek profits;
(9) Where the Advertiser uses any card that it rents or buys from any other person to engage in trading, and therefore is deemed by the Platform as being suspected of involvement in money laundering, we will directly revoke Your qualification as an Advertiser; if there is a conclusive proof that You are directly involved in money laundering, we will directly report to the competent judicial authorities.
(10) Where the engages in trading on a platform that has the basic risk-control Advertiser arrives at a Platform with basic KYC risk control capability or in a high-risk over-the-counter community, and the associated account number or alternative account number of the Advertiser is proven by the Platform to be suspected of involvement in money laundering, the Platform shall have the right to directly revoke the Advertiser’s qualification as such. Where the account of any user who trades with the Advertiser is frozen as a result, Your qualification as an Advertiser shall be revoked, and deductions shall be made from Your Security Deposit; furthermore, You shall also assist such user in unfreezing the account thereof;
(11) Where the Advertiser engages in any unauthorized cross-Platform OTC transaction, in order to prevent You from introducing illegal funds from external sources into the Platform, You are required to adopt proper risk control and identification measures, such as KYC and AML; furthermore, You are also required to effectively separate Your fund used in such cross-platform transaction from other funds, and avoid using in such cross-platform trading the account that is used by You to receive and make payments on the Huobi Platform. Where the account of any user of the Platform is frozen because you fails to effect the aforementioned separation of accounts in cross-platform transaction, we shall have the right to revoke Your qualification as an Advertiser.
(12) Where it is found out through verification by the Platform that the Advertiser’s account for making and receiving payments has been frozen for multiple times and such freezing fails to be reported to the Platform as is required;
(13) Where the Advertiser violates this Agreement or the Advertiser Credit Points Management Rules;
(14) Where the Advertiser has any other conduct that is identified by the Platform as contravening public order and good customs, the principle of fair trade or any of the applicable laws and regulations.
Article XI Limitation and Exemption of Liabilities
As an Advertiser, You should not only abide by the provisions under the Platform’s User Service Agreement in connection with limitation and exemption of liabilities, but also should carefully read and abide by the following liability exemption or restriction clauses:
6.1 In view of the fact that the source of over-the-counter funds are highly complex and in view of the special nature of digital asset transactions, You must pay special attention to risks related to money laundering. In order to ensure the safety of Your own transactions and assets, You must carry out the transaction strictly in accordance with the procedures and rules, and effectively verify the identity of Your transaction counter-party in accordance with KYC and anti-money laundering requirements. Otherwise, You may face risks such as asset freezing due to the suspected crimes by Your transaction counter-party, and the Platform will not be held responsible for any and all losses arising therefrom.
6.2 The Platform only provides information matching services for C2C transactions of digital assets, and all transactions on the Platform are completed independently and spontaneously by the users. The Platform does not participate in any part of the transaction process. If You violate any of the trading rules of the Platform or this Agreement, resulting in any loss, You shall solely bear any and all risks therefrom, and we shall not be held liable in any manner whatsoever. We will not use our brand name or credit-worthiness as endorsement for any violation of the Platform's rules and regulations by the Advertiser, nor will we be held jointly liable for any adverse consequences caused by the Advertiser.
6.3 In order to prevent offenders from using the Platform to engage in illegal acts such as money laundering, disguised evasion of foreign exchange regulation and arbitrage of foreign exchange, the Advertiser shall avoid introducing illegal assets from off-site sources into the Platform (in particular, the Advertiser shall properly identify and control the risks of its counter-parties and effectively separate its fund accounts when withdrawing currency in cross-Platform OTC transactions without authorization). Otherwise, if it is verified by the Platform that a user is suspected of using the Platform to engage in illegal or illicit acts in various forms (such as intentionally renting or buying cards from other users to engage in money laundering, illegally trading US dollars in bulk trade areas, etc.), we shall have the right to adopt various punitive measures against You, including but not limited to imposing restrictions on Your account, freezing Your account, revoking Your qualification as Advertiser, deduction of Your Security Deposit Assets, referring Your case to competent judicial authorities, etc., and we shall not be held liable in any manner for any losses caused by You or any related third party.
6.4 The Platform does not encourage You to rent, buy or sell without proper authorization the cards of other persons to engage in trading without authorization: 1. where You rent or buy or sell the card of any other person to engage in money laundering, as a result of which the real-name owner of such card becomes involved and sustains any loss, we shall not be held liable for such losses in any manner whatsoever. Upon our proper verification, we shall have the right to directly refer You to the competent judicial authority, and in this case, we shall not be held liable for any negative consequence that You may be subject to. 2. Where You have used any card that You rented or purchased from any other person to engage in transaction with a user, and such card has been frozen by the police, yet the user nonetheless assume that the card is still valid when trading with You, and transfers fund directly into such card, then if the user sustains any loss from the freezing of such fund, You shall actively cooperate the efforts to unfreeze the account. If You refuse to fulfill Your obligation to cooperate with such efforts, the Platform, on the basis of the actual circumstances, make deduction from Your Security Deposit Assets as compensation for the user who sustains loss, and the Platform shall not be held liable for any compensation for the losses incurred by You.
6.5 For the purpose of identity information verification, the Platform may contain links to third-party websites (such as online banking websites) (hereinafter referred to as "Linked Websites"). The Linked Websites are not controlled by the Platform, and we do not provide any guarantee or promise for any information, products, business of any third-party website linked in the Platform or any other forms of content on such third-party websites that does not belong to us. Your use any service, information or product provided by third-party websites is exclusively Your personal decision, and therefore You shall solely bear any and all responsibilities arising therefrom.
Article VII Miscellaneous
7.1 This Agreement shall enter into force on You as of the date of its promulgation and renewal, and shall terminate on the date when Your Advertiser qualification is revoked and the corresponding obligations under this Agreement are properly fulfilled.
7.2 If You have any question regarding this Agreement, or have any complaint or opinion against any of the handling methods under this Agreement, please contact us at support@huobigroup.com.
7.3 The ultimate right to interpret this Agreement shall be owned by the Platform.
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