C2C Trading Principles

I. C2C Trading Principles.

This Regulation will be formally implemented from the date of promulgation and will be revised or improved from time to time. The revised or improved new rule will take effect as of the date of promulgation; if you do not agree with this Regulation and the revised or improved rules, please stop using the platform service immediately; if you continue to use the platform services, it is deemed that you fully understand and accept the Regulation and the content of the rules modified or improved from time to time, and are voluntarily bound by them.

1. Please do not engage in any form of cryptocurrency transactions on third party channels, such as social media, chat messaging apps or face-to-face transactions. The platform should not and cannot be held responsible for any loss or damage to assets caused by users executing or initiating any transactions outside the platform. The platform sets the transaction rules for both buyers and sellers purely to support the user's experience of using the platform services, and the platform is not a party to any C2C transactions.
2. All communication between users is conducted through the chat tools provided by the platform, and ChipPay customer service team will not take into account any chat records from other communication channels when resolving transaction disputes.
3. Both parties to a transaction shall bear the additional transaction costs involved in a fiat currency transfer, such as the transaction handling fee charged by the payment service provider, unless either party expressly agrees to pay the additional transaction costs prior to the establishment of the transaction.
4. If a refund is necessary, the buyer should be aware that they must bear all additional charges arising from the refund process. Refund reasons include but are not limited to third-party payment, overdue payment, order over/underpayment, and order cancellation but paid. If any charges are involved in the refund, the seller shall deduct that amount. The seller shall provide proof of payment channel charges, bank transaction fees or other relevant documents. If not provided, the seller will require a full refund.
5. Please use the payment method where the name of the account owner is the same as the name you registered with ChipPay (The name must be the same as the name you verified with ChipPay through KYC.) The platform does not support payment methods that are not verified by your real name

II. Users Should Abide By The Anti-Money Laundering Regulations.

1. Users shall comply with the “ChipPay platform Anti-Money Laundering Regulations” and strictly fulfill the relevant obligations in accordance with it.
2. Users shall strictly comply with the platform's real-name authentication management requirements for user identity and account, and ensure that the relevant accounts displayed on the platform are legally registered and used by them.
3. Users should actively cooperate with the platform's further anti-money laundering verification work when triggering the platform's anti-money laundering risk control pre-warning, and actively assist in providing relevant risk control evidential materials (specific measures are subject to the platform's risk control assessment requirements at that time).

III. Trading Information.

Except as otherwise provided in these terms, all transactions are final and you should read the entire transaction message, including but not limited to the price of the cryptocurrency, the volume of the order, the handling fee, and the direction of the buy or sell, carefully before you click on the button to proceed with the transaction. The fees you paid to ChipPay are non-refundable.

The platform implements an order-taking system for resident traders. You can click the button to trade after you have fully accepted all the content contained in the transaction information. After you place an order, the system will automatically match you with a trader for transaction matching. After you submit a transaction order, it means that you authorize the platform to match your transaction order.

1. Before trading, you should carefully read all the contents of the transaction message, including but not limited to the cryptocurrency price, handling fee, buy or sell direction, and the user fully accepts all the contents contained in the transaction message before clicking the button to trade.
2. During the transaction process, you have the right to cancel the order at any time before you click the payment confirmation button.
3. You can view the corresponding transaction records through the transaction details of this platform and look back at your detailed transaction records.
4. If you make a mistake in your transaction, you have to bear the loss of assets caused by successful payment but click the order cancellation button, remittance to other traders' bank accounts, overpayment, etc., and the platform will not be responsible for it.
5. The system will restrict some functions of the seller's account if the seller fails to complete the operation on time when the refund or release is involved in this regulation.

You agree to pay all related fees and payables and agree to authorize ChipPay to automatically deduct fees and payables from your digital asset wallet and transaction reserve balances. All fees and payables will be clearly displayed in your ChipPay account, and this fee schedule may be modified, changed or updated at any time without prior notice to you. All related fees and payables shall be subject to the fee schedule posted at the time of placing the order or executing the transaction and shall be binding on both you and the counterparty.

IV.Triggering Risk Control Abnormalities.

1. When a user is detected by the risk control system as abnormal, the user clearly refuses or does not actively cooperate to complete further anti-money laundering verification work required by the platform's risk control. The platform will have the right to consider this account as abnormal and take measures including but not limited to adjusting the user's risk level upwards and directly blocking such associated user accounts and its balances until the user has passed the platform's risk control assessment with the risk control evidential materials provided.
2. The account is not used by himself or for others to buy and sell cryptocurrencies: When the user is verified by the platform risk control that the account is sold, lent, leased for others to use, or there is behavior of buying and selling cryptocurrencies for others. The platform will have the right to adopt a number of measures including, but not limited to, temporary or permanent restriction of C2C transactions, delayed withdrawal of cryptocurrencies, restriction of withdrawal of cryptocurrencies, or direct blocking of such users' accounts and affiliated accounts. Please pay attention to your own information security to avoid being used by others to commit criminal acts.
3. Users’ activities identified as money laundering: When the user is detected by the risk control system or verified by the risk control staff, the user directly participates in or assists in criminal acts such as money laundering. The platform will directly and permanently restrict all functions of such users' accounts and associated accounts.
4. Judicial freeze: When the user account or account is requested to be frozen by a judicial institution. The platform will strictly follow the judicial letter presented by the judicial institution to freeze the user's account. When the freezing period expires, the judicial institution will need to present a renewal letter to continue the freezing. During the freezing period, if the user's application to the platform to unfreeze the account is invalid, please contact the freezing institution for assistance.

V. Disclaimers and Risk Warnings.

1. Users fully understand the risks of cryptocurrency transactions, including but not limited to the risks of fluctuations in the value of digital assets, the credit risks associated with ChipPay counterparties, and the legality of fiat currency transactions.
2. Users have sufficient investment knowledge, experience and ability, and agrees to bear all risks arising from the transaction solely.
3. For security reasons, users should not include any personal information (i.e. social networks, communication software) in the trading terms or auto-responses.
4. Users' nicknames should not include "ChipPay", the names of local banks and payment systems, or any sensitive words.
5. The use of multiple accounts is prohibited in C2C transactions. If such accounts are found, we reserve the right to prohibit all transactions on related accounts.
6. Before conducting transactions, users should read and understand all the contents of ChipPay’s policies, terms and relevant regulations, and after consulting with professionals, decide whether and how to complete C2C transactions according to their suggestions.
7. The platform is not a party to the transaction. Therefore, any dispute between users involved in the transaction is not related to the platform. The platform has neither the authority nor the obligation to resolve any dispute arising from it. It has no obligation to assume financial or non-financial obligations or liabilities (including but not limited to compensation) to any party.
8. Users agree and authorize the platform to take all reasonable actions (including, but not limited to, canceling transactions or deactivating account features in certain circumstances) to protect the legal rights of you, the platform and other users in accordance with this policy, the terms and conditions and the relevant rules.
9. Users agree that, to the maximum extent permitted by law, the platform will not be liable for losses arising from ChipPay transactions and will not be liable for losses arising from your use of the services in accordance with this policy and not caused by the platform's intentional or gross negligence, including but not limited to hacking, power outages or unavoidable technical failures.
10. In the event of the following circumstances, the platform has the right to decide at its sole discretion to immediately restrict, suspend or terminate the user's account or the right to use the platform.

• We reasonably suspect that the user has violated or may be violating this policy;
• We found that users traded on ChipPay using multiple accounts;
• We believe it is necessary to protect our other users. If we exercise our right to restrict or deny the user's use of the service, we shall not be liable for any consequences arising from our failure to provide the user with the service, including any delay, damage or inconvenience that may be caused;
• We determine that users use our platform in a way that may adversely affect other users or prevent other users from using our services;
• In the course of interacting with other users, violators are found to have used insults, blackmail, harassment, threats against counterparties, or otherwise violated or attempted to violate another user's legal rights (e.g., intellectual property rights such as the right to privacy and publicity), and to have collected private information and distributed it to other parties.

11. Users accept that we may take certain actions in accordance with security standards integral to our risk management and security protocols, including restricting access, deactivating or closing their accounts or wallets. Users agree that ChipPay has no obligation to disclose details of its risk management and security procedures to them.

We will remove the deactivation measure as soon as the reason for the deactivation no longer exists, however, we are not obligated to notify users when or if such measures will be removed.

VI. Abnormal Trading Behavior and Handling Measures.

Abnormal Trading Behavior for Buyer	Handling Measures
1.  After an order is generated, the buyer cancels the order.	If there are 3 consecutive cancellations on the day, the system will restrict the buyer's buy function.
2. After an order is generated, the system automatically cancels the order due to payment timeout.	If there are 3 consecutive cancellations on the day, the system will restrict the buyer's buy function.
3. If the payment has not been made, click "I have completed the remittance".	The seller has the right to cancel this order.
4. Payment was not made to the receiving account displayed on the seller's order transaction page.	The seller has the right to request to cancel the order and return the digital assets to the seller, and the buyer bears the risk of the wrong transfer.
5. Payment is not made according to the account provided by the seller on the order transaction page that is consistent with the real name of the bound account.	The seller has the right to request to cancel the order and return the digital assets to the seller, and the buyer bears the risk of the wrong transfer.
6. If the payment is not made, click "I have completed the remittance" first, and then make the payment.	The seller has the right to choose to continue the transaction or cancel the order for a refund.
7. Payment is not made using a payment account that is consistent with the real name of the platform account.	The seller has the right to directly refuse the transaction. Generally, the seller will complete the refund within 24 hours after receiving the payment, and the digital assets will be returned to the seller.
8. Payment is made within the payment time specified in the order and the order is canceled.	If the order is actively canceled by the buyer and the order is canceled by the system overtime, the buyer can contact the platform or wait for the seller to re-complete the order through abnormal processing after confirming the receipt of the payment.
9. If the payment is made separately and all transfers have not been completed, click "I have completed the remittance" first, and then continue to complete the payment.	Communicate with the seller in advance, and if the seller allows its behavior, the seller should continue to complete the order.
10. Payment amount does not match order amount.	The seller will re-complete the order through abnormal processing with the actual payment amount received.
11. Payment of orders using non-real-time payment methods not agreed by the seller.	After the seller confirms receipt of payment, the order will be re-completed through abnormal processing.
12. Due to the different settlement time of different banks at night, the transfer between 10:00 and 12:00 at night may not be able to arrive immediately.	The seller will check again after 0:00 tomorrow. If the payment is confirmed, the order will be re-completed through abnormal processing.
13. The seller's receiving account is abnormal due to the buyer's payment.	If the buyer cannot provide proof of the normal account, the seller should complete the refund within 24 hours after the receiving account becomes normal. The buyer can provide proof that the account is normal. After verifying that the buyer's account is normal, the order is completed and the digital assets should be transferred to the buyer.
14. Remarks with payment: similar to "cryptocurrency, BTC, Bitcoin, USDT" and other risk words.	The seller has the right to cancel the order directly and make a refund and the digital assets are returned to the seller. Generally, the seller will complete the refund within 24 hours after receiving the payment. If the seller's receiving account is frozen, the platform has the right to require the buyer to pay all responsibility. If the seller's account is frozen for this reason, the platform has the right to block all account permissions of the buyer.
15. Those who are detected as malicious fraudulent orders to obtain seller payment information.	Block the account permanently.
16. Those who are detected as risk users by the risk management system preliminarily.
17. Complained about having malicious behavior to call the police.
18. Complained about trading with risky funds by others.
19. Complained about using fraudulent funds to trade.
20. Complained about tricking counterparties into trading off the platform.
21. Provide false information such as transfer records, release records, chat records, etc.

Abnormal Trading Behavior for seller	Handling Measures
1.After an order is generated, there is an objection to the order price.	Unless the order price is negotiated with the buyer, the order is completed normally, and the seller shall release it within the time specified in the order.
2.After an order was completed, the seller received insufficient payment.	In order to reduce the risk of the buyer being controlled by the bank due to the transfer of the decimal point amount, the platform allows the buyer to ignore the decimal point when transferring payment, and only pay an integer amount.
3.There is an abnormal in the receiving account of the seller.	The buyer has the right to cancel the order directly and the digital assets are returned to the seller.
4.The buyer was unable to complete the payment because the seller did not provide a valid payment method in time.	The buyer has the right to cancel the order directly and return the digital assets to the seller since the seller does not provide a payment method.
5.The seller has not bound valid payment information consistent with his real name or provided the buyer with a payment method inconsistent with the real name of the platform. For example, when receiving payment through Alipay or WeChat, the account number and QR code payee name do not match the payee name displayed on the order details page.	The buyer has the right to cancel the order and complain to the platform.
6.The buyer's payment account information is inconsistent with the platform's real-name information, and the transaction has not been rejected.	The risk arising shall be borne by the seller. The system will restrict some functions of the seller's account due to this reason.
7.The buyer has paid the full payment and clicked "I have completed the remittance", the seller fails to complete the release within 30 minutes after receiving the full payment from the buyer.	The buyer can upload the payment proof on the order transaction page to hold the order and contact the customer service of the platform for assistance.
8.In the course of the transaction, if you receive a payment that exceeds the order amount and does not actively cooperate with the refund, or obtain illegal profits.	Block the account permanently.
9.Those who are detected as risk users by the risk management system preliminarily.
10.Complained about having malicious  behavior to call the police.
11.Complained about trading with risky funds by others.
12.Complained about using fraudulent funds to trade.
13.Complained about tricking counterparties into trading off the platform.
14.Provide false information such as transfer records, release records, chat records, etc.