Trusted Advertiser Terms and Conditions
1. These Terms and Conditions shall come into force as of the date of publication and will be amended, replaced or supplemented from time to time. The modified or improved Terms and Conditions shall be effective from the date of publication;
2. If you do not agree to these Terms and Conditions, please refrain from holding yourself out as a Trusted Advertiser (as defined below);
3. Your continued use of the service indicates that you fully understand and accept these Terms and Conditions.
I. Definition of Trusted Advertiser
A “Trusted Advertiser” refers to one who has a strong crypto to fiat (and vice versa) trading record on the Huobi P2P platform (“Platform”). The Trusted Advertiser is to compensate trading users (sellers) whose payment account has been frozen due to a trade completed between the two parties (“Service”).
For these Trusted Advertisers, the Platform will add a blue shield icon next to their profile (“Blue Shield Badge”) to indicate that they are qualified to provide the aforementioned Service.
II. Application Requirements for Trusted Advertisers
An advertiser who meets all the following conditions is eligible to apply for the Trusted Advertiser and Blue Shield Badge:
1. For an advertiser who is also classified as a Huobi P2P Valued advertiser, please kindly refer to the announcement for security deposit requirements;
2. Within three months prior to the date of the Trusted Advertiser application submission, there is no user feedback that his/her payment account has fallen into an abnormal status due to a transaction entered into with the relevant advertiser;
3. The advertiser shall complete the Platform’s prescribed KYC and AML reviews, and shall bear the consequences of any trading user’s payment account freeze arising from failure to comply with the abovementioned processes;
4. The advertiser’s account and its management personnel have no record of being subject to investigation or restrictive measures taken by any relevant public authorities, such as detention by the police, investigation and evidence collection, account freezing by the police, etc.;
5. Their account has not seriously violated and/or repeatedly violated any relevant provisions of the Advertiser Service Agreement which may result in the deduction of the advertiser’s security deposit or the termination of their rights and entitlements on the Platform;
6. The advertiser has passed the Risk Control Department and other service departments’ assessment on the comprehensive service level and risk control level for their account;
7. The advertiser has not engaged in any misconduct, including but not limited to directing trading users (sellers) to offline trading or participating in illegal financing or fraud which may damage the reputation of the Platform’s brand. The Platform reserves the right to pursue legal action against the advertiser.
8. Meet any other conditions as may be prescribed by the Platform;
9. Agree to observe and be bound by the provisions of these Terms and Conditions.
III. How to Apply to be a Trusted Advertiser
An advertiser who meets the conditions stipulated in Article 2 of these Terms and Conditions may apply for the Blue Shield Badge held by a Trusted Advertiser through the channel designated by the Platform and place a security deposit on the Platform according to the rules stipulated by the Platform.
Application method: Contact Customer Service or the Advertiser Manager of the Platform and fill in the Huobi Trusted Advertiser Application Form for application.
Our team will review and evaluate your application as soon as possible, and add it in batches according to the application time. The Platform will add the Blue Shield Badge to the advertiser's profile within three (3) working days from the date of the advertiser passing the application review and placing a security deposit in full.
IV. Compensation Rules for Trusted Service
1. Compensation Amount:
For trading users (sellers) whose payment accounts are frozen during regular trading due to the fault of the Trusted Advertiser, a certain amount of compensation should be provided if their applications have been approved by the Platform after strict review.
For such approved applications, the Trusted Advertiser shall compensate the trading user 10% of the amount of such order, up to a maximum compensation value of 1,000 USDT per order. The compensation shall be paid in USDT.
2. Compensation Scope:
In the event that the trading user discovers its payment account used for transacting with the Trusted Advertiser has been frozen for seventy-two (72) hours or more, they can notify the Platform of such a situation with relevant evidence.
These are the circumstances in which an application for compensation may arise:
(1) A relevant authority has provided confirmation that the trading user’s payment account has been frozen due to a transaction completed with the Trusted Advertiser;
(2) An order from a relevant national authority demanding the Platform to provide trading records of a trading user with respect to a particular transaction, of which was completed with the Trusted Advertiser;
(3) The trading user’s frozen receivables account has only traded on the Platform and only with the same Trusted Advertiser for the past ninety (90) days before such application for compensation was created;
(4) The Platform has verified that the Trusted Advertiser’s payment account was subject to a freezing order by the relevant authorities (i.e. courts or other judicial authorities);
(5) The Platform discovers that other trading users (sellers) trading with the Trusted Advertiser in the same period have their payment accounts frozen by the same relevant authorities;
(6) Other circumstances that can prove that the trading user's payment account has been frozen due to the Trusted Advertiser's transaction behaviour.
If the trading user is able to prove that they fulfil at least two of the above mentioned circumstances, the Platform shall assess and make a judgment based on the evidence provided by the trading user. The Platform’s judgment is made based on the feedback provided by the trading user to the Platform and the evidence provided by the Trusted Advertiser to the Platform. The Platform is not responsible for the collection and provision of any evidence, nor is it obligated to initiate the compensation process.
The Platform is entitled to take any measures which it considers to be in the interests of the Platform and/or trading users (sellers) against the Trusted Advertiser in its sole discretion for the purpose of unfreezing the trading user’s payment account or effecting a compensation payout.
In the event that Trusted Advertiser loses its Blue Shield Badge, they shall continue to fulfill its obligation to compensate trading users (sellers) if it has determined that the compensation obligation has arisen prior to termination of its Blue Shield Badge.
3. The following situations will not be covered by the Trusted Advertiser compensation scheme:
(1) The payment account was frozen before the advertiser became a Trusted Advertiser;
(2) The trading user fails to submit an application to the Platform within thirty (30) days from the date of their account being frozen;
(3) Other funds, if any which have been remitted to the frozen payment account shall not be included in the scope of compensation.
(4) Compensation is only limited to the payment account directly affected by the trading order entered into with the Trusted Advertiser.
V. Compensation Process
Step 1: The trading user discovers that its payment account used in completing the transaction with the Trusted Advertiser has been frozen;
Step 2: The trading user shall verify the freeze period with the institution providing such payment account services. If the relevant institution is unable to provide a specified freeze period, the trading user shall verify the status of their account again after seventy-two (72) hours.
Step 3: If the payment account remains frozen after the second verification attempt, the trading user may contact the Platform’s online customer service or contact [email protected] via email to give feedback.
Step 4: The Platform will verify in accordance with these Terms whether the freezing of the trading user’s payment account is due to the Trusted Advertiser’s fault.
Step 5: If the result of the verification is “Yes”, the Trusted Advertiser shall assist the trading user to lift the frozen status on its payment account within thirty (30) days from the date of the verification made by the Platform under step 4. The trading user may also make an application for compensation from the Trusted Advertiser during the same period. In the event that the Trusted Advertiser fails to assist the trading user in unfreezing its payment account, the Platform shall notify the Trusted Advertiser to make the necessary compensation to the trading user within three (3) business days from the date of expiration of the aforementioned thirty (30) days.
Step 6: Trusted Advertiser to compensate the trading user. If the Trusted Advertiser refuses to compensate the trading user, the Platform shall be entitled to unilaterally deduct part or all of the Trusted Advertiser's security deposit to compensate the trading user. Concurrently, the Trusted Advertiser’s advertising privileges will be suspended until the Trusted Advertiser has refurnished the security deposit in full.
1. In the Platform has verified that the payment account freeze was not the fault of the Trusted Advertiser, the trading user shall be notified that they are unable to receive any compensation (“No Compensation Notice”). If the trading user does not agree with the Platform’s judgment, they must provide new evidence within seven (7) business days from the date of receiving the No Compensation Notice.
2. In the event that the Trusted Advertiser’s security deposit is insufficient for the deduction, section 6 subparagraph 2 shall apply.
Ⅵ. Termination of Trusted Advertiser Services
The Platform reserves its right to terminate the Trusted Advertiser's Blue Shield Badge in the following circumstances:
- The Trusted Advertiser refuses to perform its obligations, i.e. compensating the trading user. The Platform shall deduct the compensation from the Trusted Advertiser’s security deposit in such event and terminate its qualification;
- Insufficient security deposit: (1) In the event that a Trusted Advertiser's security deposit is insufficient to cover outstanding compensations, and the Trusted Advertiser fails to refurnish the security deposit after it has been deducted, or (2) In the event that the Trusted Advertiser is required to make multiple compensation payouts and the security deposit is insufficient for such purposes, the security deposit shall be proportioned according to the quantum of the claims, the Platform reserves the right thereafter to require the Trusted Advertiser to top up the security deposit required for Super-V advertisers within three (3) business days, failing which it shall terminate the Trusted Advertiser’s Blue Shield Badge and restrict its advertising permission.
- If the Trusted Advertiser voluntarily applies for the termination of the Blue Shield Badge, it shall contact the Platform’s customer service or advertiser manager in advance and make an application. Upon approval of the Platform, the Trusted Advertiser shall lose its Blue Shield Badge. Any remaining part of the security deposit will be refunded within thirty (30) days provided that there are no outstanding claims of any kind by a trading user.
- For (1) orders that have been initiated and/or (2) completed immediately prior to the date of termination of the Trusted Advertiser’s Blue Shield Badge, (3) services that have been initiated within the ninety (90) day period from the day on which the Blue Shield Badge was terminated shall continue to be fulfilled in accordance with these Terms and Conditions if they are determined to be subject to payment but have not been paid.
- A Trusted Advertiser who had its Blue Shield Badge terminated may not apply for the Blue Shield Badge until after ninety (90) days have elapsed since the date of termination.
VII. Special Announcement
- The Trusted Advertiser qualification application review and security deposit requirement imposed by the Platform on the advertiser do not constitute the Platform's credit rating of the advertiser, nor does it warrant any relationship between the Platform and the advertiser. The Platform makes its independent judgment in accordance with the Terms and Conditions, and shall not actively participate the dispute between the advertiser and the trading user.
- Any disputes between the Trusted Advertiser and the trading users (sellers) shall be resolved and handled solely by the two aforementioned parties. The Platform shall not be liable for the dispute resolution process or result in any form or manner.
- The Platform undertakes to make a neutral, autonomous and independent judgment in accordance with these Terms and Conditions, but the Platform does not hold itself out as an institution with any binding judicial power. The Platform does not assume any responsibility for the results of the judgments made in accordance with these Terms and Conditions.
VIII. Trading User Tips
The trading user can use a special payment account to conduct transactions on the Platform. This assists the Platform in making a more objective and accurate judgment on whether the freezing of the trading user's payment account is due to the fault of the Trusted Advertiser.
The above tips do not constitute financial or legal advice, and the trading user is free to make decisions at their sole discretion.
IX. Other Provisions
The Platform reserves the right of final interpretation of these Terms and Conditions.