This Agreement (the “Agreement”) is concluded between the online service for exchanging title units: https://rateon.io/, hereinafter the Contractor, on the one part, and the Customer, being the person who uses the Contractor’s services, on the other part.
Definitions
Exchange of title units — an automated online service product provided by the Contractor under these rules.
Customer — an individual who agrees to the Contractor’s terms and this Agreement and joins it.
Title unit — a conditional unit of a payment systеm corresponding to electronic settlement systems and representing the scope of rights under the electronic payment systеm’s agreement and its customer.
Digital asset — a type of title unit on this service that requires transaction processing on the blockchain platform side.
Order — the Customer’s request to buy or sell Title units using the services provided by the Contractor. By creating an Order, the Customer accepts the service terms presented by the Contractor within that Order.
1. Terms of the Agreement
These rules constitute the terms of a public offer formed when the Customer submits an Order and represent one of the main components of this Agreement. The public offer is the information displayed by the Contractor regarding the conditions for placing an Order. The key elements of the public offer are the actions performed by the Customer to finalize the Order, confirming the Customer’s exact intent to enter into a transaction on the terms proposed by the Contractor before completing the Order. The time, date, and parameters of the Order are generated automatically by the Contractor at the moment the Order is completed. The Customer must accept the offer within 24 hours from the moment the Order is completed. The service agreement enters into force from the moment the Contractor receives the Title units in full in the amount specified in the Order from the Customer to the Contractor’s details. Transactions with Title units are accounted for according to the rules, regulations, and format of the relevant electronic settlement systems. The Agreement remains in effect from the moment an Order is submitted until termination at the initiative of either party. Any completed exchange of Title units, as well as any other operation offered by the Contractor to the Customer, is irrevocable, i.e., it cannot be cancelled by the Customer after completion — after the Customer has received what is due under the previously accepted transaction terms.
Any amendments to this Agreement published by the Contractor take effect from the moment they are posted on https://rateon.io/, and such amendments do not apply to Orders created before the date the amendments take effect.
2. Subject of the Agreement
By using technical methods, the Contractor undertakes to perform the Exchange of title units for a commission paid by the Customer after the Customer submits an Order, and does so by selling the Title units to persons willing to purchase them for an amount not lower than specified in the Customer’s Order. The Contractor undertakes to transfer the Title units to the details specified by the Customer. If profit arises during the exchange process, it remains in the Contractor’s account as additional benefit and a premium for commission services.
3. Exchange Rules
3.1. General exchange rules.
3.1.1. Within 24 hours from the moment the Exchange of title units is completed, the Contractor provides a warranty for the services rendered, unless other terms are specified.
3.1.2. If an amount different from that specified in the Order is received in the Contractor’s account, the Contractor recalculates the exchange in accordance with the actual amount of Title units received.
3.1.3. If, due to the Contractor’s fault, the Title units are not sent to the Customer’s specified details within 24 hours, the Customer has the right to demand termination of the Agreement and cancellation of the Order, thereby requesting a return of the Title units to the Customer’s account in full. A request to terminate the Agreement and return Title units is executed by the Contractor only if the Title units have not yet been transferred to the Customer’s specified details.
3.1.4. In the event of cancellation of the Agreement, the return of Title units is made within 24 hours from the moment the termination request is received. If delays in the return arise through no fault of the Contractor, the Contractor is not liable for such delays.
3.1.5. If the Customer made any mistake when transferring Title units, or if the Customer wishes to cancel the Order after transferring Title units to the Contractor’s account, the return of Title units is made minus the payment systеm’s transfer fee (for certain Title units, the fee depends on network requirements for including the transaction in the first block at the time of the return), and minus a manual processing fee equivalent to 3% of the received amount of Title units.
3.1.6. To request a return of Title units, the Customer submits a return request via email sent to info@rateon.io. The email must be sent from the address specified in the Order for which the Customer wishes to receive the return. The email must inсlude the Order number and the return details for the Title units.
3.1.7. Orders for the Exchange of Title units that are actually paid in an amount below the minimum exchange amount are not subject to execution or return.
3.1.8. If the Title units are not received from the Customer to the Contractor’s account within the specified period from the moment the Customer creates the Order, the Agreement between the parties is terminated by the Contractor unilaterally, as the Agreement does not enter into force. The Customer may not be notified. If the Title units are received to the Contractor’s details after the specified period, the Contractor reserves the right to return the Title units under the Order minus the fee back to the Customer, or to execute the Order at the current rate provided that the Customer contacts support.
3.1.9. If there is a delay in transferring Title units to the details specified by the Customer due to the settlement systеm, the Contractor is not liable for damages arising from late receipt of Title units. In this case, the Customer agrees that all claims will be directed to the settlement systеm, and the Contractor will provide assistance to the extent possible within the law.
3.1.10. If communication streams are forged or interference is detected with the aim of degrading the Contractor’s operation, including its program code, the Order is suspended and the transferred Title units are recalculated in accordance with this Agreement. If the Customer disagrees with the recalculation, the Customer has the right to terminate the Agreement, and the Title units will be sent to the Customer’s specified details minus all commission expenses.
3.1.11. By using the Contractor’s services, the Customer fully agrees that the Contractor bears limited liability within the scope of these rules for the received Title units and provides no additional warranties to the Customer, and bears no additional liability to the Customer. Accordingly, the Customer bears no additional liability to the Contractor.
3.1.12. The Customer undertakes to comply with applicable laws and not to forge communication streams or create obstacles to the normal operation of the Contractor’s program code.
3.1.13. The Contractor is not liable for damages and consequences of an erroneous transfer of Title units if the Customer provided incorrect details when creating the Order.
3.2. Specifics of operations involving banks.
3.2.1. A bank transfer may be carried out within online banking of payment systems. If an Order was created via a bank operator or ATM, Title units are returned to the Customer no later than within 24 hours, taking into account fees. The return of Title units occurs exclusively upon the sender’s transfer being identified by the sender’s security service.
3.2.2. If the Customer provides incorrect recipient details for Title units, the Contractor bears no liability for any adverse consequences or damages arising from such error.
3.2.3. Processing times for Visa/MasterCard direction are up to 60 minutes, and in exceptional cases up to 5 (five) banking days.
3.2.4. If the Customer adjusted the payment amount or paid from a third party account, the Contractor may block such payment. The return of Title units is performed upon the Customer’s request in accordance with clause 3.1.4 of this Agreement.
3.3. Specifics of exchanges requiring transaction processing on the blockchain platform side.
The Customer carries out a transaction on the service involving such Title units, where the transaction speed depends on the processing speed on the relevant blockchain platform side. Network confirmation details are available here: Network confirmations.
3.3.1. Orders where the Customer sends such Title units are considered paid upon receipt of the required amount to the Contractor’s account from the Customer and upon the transaction receiving the required number of network confirmations (see Network confirmations).
3.3.2. The Contractor recommends that the Customer sets the network-recommended fee for faster transaction confirmation.
3.3.3. The payout amount under an Order is reserved for 1 hour from the moment the Order is created. If payment under the Order is received later than 1 hour after the Order is created, the exchange may be completed with some delay depending on the availability of the necessary currency reserves.
3.3.4. The rate is fixed after the transaction receives the required network confirmations. Fixation is performed depending on the deviation of the rate in the Order relative to exchanges Binance and Kucoin. Recalculation is possible only in favor of the exchanger. Deviations due to parser operation within 1–2 minutes are possible.
3.3.5. The Contractor recalculates the payout amount at the current rate based on the selected exchange direction:
3.3.5.1. If the transaction under the Order is received after the allotted payment time;
3.3.5.2. If the transaction under the Order is received on time, but the received amount does not match the amount specified in the Order;
3.3.5.3. If the payout under the Order was not made due to an incorrect recipient account or due to restrictions on receiving Title units by the recipient;
3.3.5.4. If the rate changed; the recalculation conditions are specified when creating the Order. The Contractor reserves the right to execute the Order at the current rate at the moment of the actual payout.
3.3.6. Orders where the Customer receives such Title units may take from 5 minutes up to 180 minutes.
3.3.7. In case of high load or technical issues in the network for reasons beyond the Contractor’s control, the delivery time of Title units to the Customer’s account may reach 48 hours.
3.3.8. Orders involving such Title units where the actually paid amount is below the minimum exchange amount are not subject to execution or return.
3.3.9. If the Customer paid for an exchange involving such Title units (where the Customer sends), but the Title units were not received to the Contractor’s account after the established payment time, the Customer must contact the Contractor’s support. When contacting, the Customer must provide a screenshot of the transfer from their wallet or exchange. The screenshot must show the transfer date and the recipient address. After the Customer contacts support and confirms the transfer with a screenshot, the payment address will be archived. If the Customer does not contact support on this issue within 12 hours from the moment the Order is created, the Contractor reserves the right not to execute this exchange paid with a delay.
3.3.10. To avoid possible issues when transferring Digital assets, we recommend that the Customer checks their crypto address and incoming transactions for high risk via AMLbot. To ensure the safety of users who will further receive Digital assets, and to counter money laundering of illegally obtained funds, the service adheres to an AML and KYC policy, which is an integral part of this Agreement; details are available at AML/KYC.
4. Rights and Obligations of the Parties
4.1. The Customer has the right to change the recipient details by submitting a request to change the recipient details via email sent to info@rateon.io, provided that the email is sent from the address specified in the relevant Order, and the email includes the Order number and new details for receiving the Title units. This clause is valid only if the Title units have not yet been sent by the Contractor.
4.2. The Customer undertakes to:
provide a valid email when creating Orders;
exclude any possible facilitation of illegal trade and any other illegal transactions using the Contractor’s services;
exclude any possible facilitation of financial fraud, not use the service to create and distribute pyramid schemes, and refrain from other actions contrary to laws and legal norms;
exclude in their practical activity using the service any actions that may directly or indirectly harm the fight against laundering and legalization of illegally obtained funds;
provide all identity documents upon the service’s request in case of suspicion of fraud and money laundering in accordance with AML/KYC;
not interfere with the Contractor’s operation and not damage its software and hardware, and provide accurate information to ensure the Contractor performs all conditions of this Agreement;
when using the affiliate program, not use traffic boosting systems and spam methods of obtaining it.
4.3. The Contractor has the right to:
at its discretion, establish a systеm of discounts for exchange operations;
not apply discounts if the exchange service does not receive profit under an Order, i.e., the exchange margin is negative or equal to 0;
suspend an operation if the Customer’s goal of extracting profit from rate differences is detected, until circumstances are clarified by the service’s security team;
upon a relevant request, provide information about the transfer of Title units to law enforcement authorities, settlement systеm administrations, and victims of unlawful actions affected by fraud proven by courts;
if the Order rate does not correspond to the market rate for any reason, recalculate the Order at the actual rate or arrange a return of Title units to the Customer;
refuse to conclude the Agreement and execute an Order, cancel an ongoing operation, and return the Title units deposited by the Customer if the Customer violates this Agreement, without limiting itself to this.
5. Force Majeure
5.1. If unforeseeable circumstances arise during processing of the Customer’s Order that contribute to the Contractor’s inability to perform the Agreement, the execution timeframes are extended for the duration of such force majeure. Neither the Customer nor the Contractor shall be liable to each other for delays or failure to perform obligations resulting from force majeure circumstances, including natural disasters, fire, flooding, terrorist acts, change of government, civil unrest, as well as non-functioning of payment systems, power supply systems, communications networks, and internet service providers. The Contractor may request from the Customer an appropriate document confirming the occurrence of such force majeure circumstances.
5.2. In the event of an error during payout, the Customer will receive a notification in the Order status and/or by email.
6. Jurisdiction and Taxation
6.1. Services provided by https://rateon.io/ may be prohibited in certain jurisdictions. By accepting these terms, the Customer confirms that they are not a resident of such a jurisdiction. This Agreement does not отменяет applicable laws of the places of registration and location of the Service and the Customer, as well as contractual relations between the Customer and the payment systеm(s). For the purposes of interpretation and application of this Agreement, as well as dispute resolution, the parties are guided by the jurisdiction of the Republic of Cyprus, unless otherwise required by mandatory provisions of applicable law. If under applicable law or other arrangements the Customer cannot use the Service, such use is prohibited by this Agreement and will be considered illegal, and the Customer bears liability under applicable law.
6.2. The Service is not a tax agent for the Customer and will not notify the Customer regarding their tax liabilities. The Customer undertakes to independently pay all taxes required by the tax legislation of their place of residence.
6.3. The Customer warrants that they are the owner or otherwise legally entitled to dispose of the amounts used in their transactions, and confirms compliance with AML/KYC.
6.4. The parties accept this Agreement as legally equivalent to a written contract.
7. Claims and Disputes
7.1. Claims under this Agreement are accepted by the Contractor in the form of an email in which the Customer describes the essence of the claim. Such email is sent to the Contractor’s details indicated on the website or to info@rateon.io.
8. Miscellaneous
8.1. It is strictly prohibited to use the Contractor’s services to conduct illegal transfers and fraudulent actions. By entering into this Agreement, the Customer undertakes to comply with these requirements and, in the event of fraud, to bear criminal liability in accordance with applicable law.
8.2. This Agreement may be amended by the Contractor unilaterally without additional notice to the Customer by publishing a new version on https://rateon.io/, and such amendments do not apply to Orders created before the date the amendments take effect.