💱Merchant Service Agreement
Please confirm that you have read this agreement's contents in detail before starting the "Verified Merchant" process.
Once you start the verification process, it means that you fully understand and agree to accept the entire contents of this agreement. In order to improve the security of transactions and the credibility of the identity of registered users of this platform, HKD.com Limited, an International Business Company incorporated in the Republic of Seychelles, and of company number 235204, (hereinafter referred to as "this website" or "HKD.com") provides you with authentication services.
If you apply for authentication, this website has the right to take various measures that it deems necessary to identify the user's identity. However, as an ordinary network service provider, this website's methods are limited, and there are certain difficulties in identifying users on the network. No guarantees can/will be made by HKD.com.
Documents and Information Required for Application:
Full Legal Name (as shown on the national ID card or passport)
Identification Number (as shown on the national ID card or passport)
A declaration that your source of funds is legal and reliable
A declaration that you consent to trade your digital assets voluntarily
A declaration that you fully understand the potential risks involved with the trading of digital assets
A declaration that you will bear all potential risks involved with the trading of digital assets as a merchant
A declaration that you take full responsibility for this merchant account’s operations and will personally bear all legal responsibilities arising from the usage of this account
Other materials as required by this platform for compliance and related purposes
Security Deposit
Upon passing the platform KYC and AML review process, the platform will require the merchants to deposit a security deposit in their platform accounts to ensure the safety of their transactions on the platform. The specific amount of the deposit will be displayed in the personal information of the certified merchant on this platform. In the following circumstances, the platform has the right to deduct the merchant's deposit and other disposals:
The merchant is involved in a dispute during the transaction process, and the merchant is judged to be responsible, but the merchant does not cooperate by fulfilling the corresponding obligations;
Merchant conducted transactions with an account(s) that are not real-named on this platform;
Merchants utilize this platform to engage in illegal activities;
Merchant violates this agreement and/or any related legal document or transaction rules on this website;
When paying other merchants or users, the receiving party(ies)’s bank account is identified as frozen;
Authentication Process
Below are the steps involved with the authentication process:
Submit merchant account application materials;
Pay the corresponding security deposit;
This website will conduct compliance reviews such as KYC and anti-money laundering based on these materials;
After passing this website's KYC and anti-money laundering compliance review, the platform will provide an exclusive merchant plus V logo to distinguish it from ordinary users.
Application to Cancel Merchant Verification
If a Merchant wishes to cancel their Merchant Verification status, it can be done by submitting an application for cancellation in the merchant's dashboard. Once the application to cancel Merchant Verification is activated, the Merchant Verification will immediately be voided. The Merchant will no longer enjoy the rights and privileges available only to verified Merchants. The security deposit will be transferred to the related HKD.com fiat currency account within seven (7) working days when the platform confirms that the merchant is not involved in any pending disputes and has no bad records.
If the following circumstances occur, the platform will have the right to cancel the Merchant Verification unilaterally:
Multiple transaction-related complaints received from other platform users;
The account was found to involve false information being submitted during the application process;
Not cooperating with the platform's customer service to process the order or deliberately delaying the customer service to process the order;
Malicious use of the rules of this platform;
Violating laws and regulations, this agreement, or related legal documents or trading rules of this website;
Behaviors that do not conform to public order and good customs and fair trade as determined by this platform;
When making payments to other merchants or users, the bank account of the counterparty is frozen, and they do not actively cooperate with the processing;
Merchant is found to be intentionally causing transactional halting for small and sizeable trades; The merchant is found to be sending malicious funds to the counterparty's bank account, resulting in the freezing of the counterparty’s bank account.
1. Understanding of Merchant Authentication Services
1.1. Merchant Authentication Service is an identification service provided
by this website. Once you have completed the authentication of your account on this website, the corresponding identity information and authentication results will not be modified or canceled for any reason; if your identity information has changed after completing the authentication, you should provide this website with the corresponding information within 48 hours. This website will assist you in changing the corresponding authentication information of your account with the certificate issued by the competent government or regulatory body(ies); otherwise, you will be solely responsible for all the legal consequences arising therefrom.
1.2. This website has the right to unilaterally modify or change the content of this agreement at any time, with or without notification. It is your responsibility to check back periodically for updates made to this agreement. If/when modifications or changes are made to this agreement, and you continue to use the services provided by this website, it means that you have read, understood, and agreed to accept the content of the changed agreement; if you do not agree with the content of the changed agreement, you should stop using it immediately Services on this website.
2. Use of Verification Materials and Security Deposits
2.1. Management of Verification Materials:
The authentication materials you submit to this website during the verification process are irrevocably authorized to be retained by this website. This website will not disclose, edit or disclose your information except for statutory or agreed reasons and will not use the non-public content saved on this website for commercial purposes, except in the following cases:
You authorize this website to disclose the relevant information;
This website receives an official request from regulators and/or enforcement departments;
When a third party and this website provide joint-effort services to users (excluding your bank account information) and your information is required for the services;
Based on the need to resolve civil disputes between you and a third party, this website has the right to provide your identity information to the third party(ies).
Based on the need to resolve civil disputes between you and a third party, this website has the right to provide your identity information to the third party.
2.2. Security Deposits:
Security Deposits will be used to ensure transaction security. If the verified merchant has a dispute in the transaction process, is judged to be responsible, and the verified merchant fails to cooperate, this website has the full right to dispose of the deposit and deduct your deposit to compensate for the loss of the relevant counterparty.
3. Links to Third-Party Websites
3.1. During the process of identity verification, this website may contain links to third-party websites (such as online banking websites) (hereinafter referred to as "linked websites"). The "Linked Sites" are not under the control of the Site, and the Site is not responsible for the content of any "Linked Sites", including but not limited to any links contained in the "Linked Sites", or any changes or updates to the "Linked Sites". This website is not responsible for network transmissions or other forms of transmission received from "Linked Sites".
4. Prohibited Use
4.1. Acceptance of this agreement's instructions, terms, and conditions is a prerequisite for your application for verification. You represent and warrant that you will not engage in any illegal and/or agreement-violating activities. You will not in any way damage, paralyze, overload, or impair other websites or the services of other websites, use the merchant verification service on this website, or interfere with the use of the verified merchant service by other users. You may not obtain or attempt to obtain any material or information by any means not permitted by this website. 4.2. You understand that the Merchant Service provided by HKD.com is only applicable to HKD.com users and only to approved currencies transactions and other unprohibited currencies and unprohibited transactions where the definition of "unprohibited currencies" and "unprohibited transactions" may vary depending on your country of residence, nationality, and geographic location at the time of using the Merchant Service provided by HKD.com. Violation of this term is not permitted by this website, and you will bear all legal, financial, and related consequences related to the violation. In case of loss, damage, and/or legal consequences which may arise as a result of your use (or inability to use) the Merchant Service provided by HKD.com, you shall not hold HKD.com or any of HKD.com's legal representative, employee, staff, affiliated agencies, affiliated companies, subsidiaries, and ultimate beneficiary owner legally liable, to the extent applicable laws allow, for any: (1) loss of profit, revenue, debt, or any other forms of monetary damages; (2) loss of income, sales, capital loss, liability and other losses incurred during business transactions, business activities, and profit-related activities; (3) data loss or corruption; (4) incidental or special damages; (5) wasted or lost administrative time; (6) pure economic loss in whatever form. (1) - (6) apply in all circumstances, whether direct, indirect, consequential, punitive, or arising in contract, tort, or otherwise. 4.3. You understand that the Merchant Service (or "P2P Merchant Service") provided by HKD.com is only applicable to HKD.com users, and the action of fund transferral through non-registered payment methods or to third-party accounts is strictly prohibited. Violation of this term is not permitted by this website and may be a violation of law and regulations in the jurisdiction of Seychelles. In case of violation, the website has the right to freeze your assets, report you to the governing authority, and you shall bear all legal, financial, and related consequences related to the violation.
5. Disclaimer
This website is not responsible for the following situations:
5.1. Your personal information is leaked due to you informing others of your account password, failing to keep your password safe, sharing your account with others, or any other faults that are not stated on our website.
5.2. Any impact due to hacker attack, computer virus intrusion or outbreak, technical adjustment of the telecommunications sector, temporary shutdown due to government control, due to third-party reasons, force majeure that results in the authentication information being leaked, lost, stolen, and/or tampered with.
5.3. The disclosure of bank account information caused by other websites linked to this website (such as online banking, etc.) and any legal disputes and consequences arising therefrom.
5.4. Any failure to pass the verification process or suffering any other losses due to the wrong, incomplete, or false information provided by the user to this website is not part of this website’s responsibilities.
6. Special Statement
6.1. The basic information review and deposit requirements of the verified merchants on this website do not mean that the verified merchants are 100% credible, nor does it mean that there is any guarantee of a relationship between this website and the verified merchants. Users of this website are requested to conduct transactions in strict accordance with the process, do a good job reviewing the transaction parties' data, communicate in detail, and ensure the safety of their own transactions and assets!
At the same time, based on the particularity of digital asset transactions, you need to pay special attention to the risks of Anti-Money Laundering and understand the identity of your counterparty in accordance with the requirements of the KYC principle; otherwise, you may face risks such as asset freezing due to the suspected crime received from your trade’s counterparty.
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