TERMS AND CONDITION
1. General
1.1 This Agreement oversees:
(a) The provision of LOOTXCHANGE Services (as defined below);
(b) Your utilization of the Platform (as defined below).
1.2 The Services are designed for, and may solely be used by:
(a) Users assuming contractual obligations must be 18 years or older, or have reached the age of majority as per their country’s laws. Additionally, users should possess full legal capacity.
(b) Individuals under 18 or not meeting age requirements shall be deemed to have parental approval for all transactions under this Agreement. The said parents or legal guardians are responsible for their activities.
2. Definitions and Interpretation
In these Terms:
a. Account: An account providing access to Platform services and benefits.
b. Business Account: An account for larger teams or businesses, enabling shared payments, order tracking, and feedback consolidation.
c. Buyer: A user purchasing Goods and/or Services in a transaction.
d. Goods and/or Services: Digital items, goods, or services offered by the Seller on the Platform.
f. Information: Any details, content, data, maps, etc.
g. Sale Contract: Agreement between the relevant Seller and Buyer through the Platform for the sale of Goods and/or Services.
h. Seller: A seller registered with LOOTXCHANGE offering Goods and/or Services on the Platform.
g. LOOTXCHANGE Services: Services and features provided by LOOTXCHANGE through the Platform, facilitating Seller and Buyer interaction.
h. User: Any person registered on the Platform.
j. Privacy Policy: LOOTXCHANGE’s policy on processing Personal Data.
k. Platform: The online platform (website, mobile site, or mobile application) developed and/or operated by LOOTXCHANGE.
l. You/Your: All users of the Platform, including Sellers and Buyers.
3. Applicability and Acceptance of Terms of Service
3.1 To use the Platform, you agree to the Terms of Service, including Privacy Rules, and other Terms published by LOOTXCHANGE.
3.2 LOOTXCHANGE reserves the right to modify these Terms for important reasons, providing 14 days’ notice.
3.3 The Regulations are in English. In case of inconsistency with translations, the English version prevails.
3.5 Users agree to electronic communication for all contractual purposes.
4. Users’ Accounts
4.1 To access the Platform and LOOTXCHANGE Services, create an Account through the Registration Process.
4.2 Users are responsible for keeping Account credentials secure, reporting unauthorized access promptly. LOOTXCHANGE is not liable for actions through the Account.
4.3 Monitor all Account activities, report unusual events promptly.
4.4 Each person is limited to one Account. LOOTXCHANGE may suspend fraudulent accounts.
4.5 Users understand the limited and revocable license to items in their account. No items can be exchanged for cash.
4.6 User accounts are not for savings or investment. Products are for acquiring goods and services, not investment.
5. Service Fees
5.1 LOOTXCHANGE collects commissions from Seller-determined prices. Use of the Platform, Account creation, and buying Digital Content are free, with LOOTXCHANGE’s commission derived from sale prices.
5.3 Users are responsible for remitting fees and taxes related to their platform use. LOOTXCHANGE is not responsible for settling fees.
6. Sale Contract
6.1 Sale Contracts are between Sellers and Buyers, excluding LOOTXCHANGE’s liability. LOOTXCHANGE facilitates transactions but does not control the quality, safety, or legality of items.
6.2 Sale Contracts must adhere to Terms, including diligent completion of obligations and compliance with instructions and policies.
6.3 In conflicts, users are encouraged to resolve issues amicably. LOOTXCHANGE may intervene at its discretion. Users must follow LOOTXCHANGE’s instructions in dispute resolution. Users release LOOTXCHANGE from any claims arising from disputes.
7. Payment
7.1 Payment Processing
(a) When you submit payment details to LOOTXCHANGE or its payment processors, you assert that you are the authorized user of such information, including credit card, PIN, key, or associated account. You grant LOOTXCHANGE and the payment processors the authority to charge you for purchases, subscriptions, or any other fees incurred.
(b) LOOTXCHANGE, at its discretion, may examine and verify (i) details related to the Marketplace listing, (ii) the buyer, and (iii) the seller. In this verification process, additional identification may be required from the buyer or seller, such as a valid driver’s license, during or before the transaction. Users may need to undergo additional security measures to confirm identity. LOOTXCHANGE reserves the right to reject items believed to be fraudulent, invalid, inauthentic, stolen, from an unauthorized source, involved in illegal activities, or posing financial risks.
(c) By using third-party Payment Processors, you acknowledge that payment processing services are provided by these third parties. To sell, you agree to provide accurate information about yourself and your business to LOOTXCHANGE, allowing the sharing of information in accordance with the Payment Services Agreement.
7.2 Buyer Payment
The buyer must pay the Sale Contract Sum through the payment gateways on the Platform, subject to any Terms of Service imposed by the relevant payment gateway service provider.
7.3 Seller Payment
(a) After successful delivery and submission of necessary documentation, LOOTXCHANGE will credit the Sale Contract Sum to the seller’s account via the selected payment method, deducting applicable fees. LOOTXCHANGE retains the right to withhold any sum under this Agreement, provided there are no complaints or disputes from the buyer, and the buyer has received the Goods/Services.
(b) LOOTXCHANGE may withhold the Contract Sum based on its determined period, as specified in this Agreement, including relevant Policies.
(c) Payments to the seller will adhere to timeframes set by LOOTXCHANGE, subject to variations determined by LOOTXCHANGE at its discretion.
(d) You are not entitled to offset any payment due to LOOTXCHANGE against any claims or payments due to you.
(d) If LOOTXCHANGE suspects fraudulent activity, it may, at its absolute discretion, cancel any payment request.
General
1.1 This Agreement oversees:
(a) The provision of LOOTXCHANGE Services (as defined below);
(b) Your utilization of the Platform (as defined below).
1.2 The Services are designed for, and may solely be used by:
(a) Users assuming contractual obligations must be 18 years or older, or have reached the age of majority as per their country’s laws. Additionally, users should possess full legal capacity.
(b) Individuals under 18 or not meeting age requirements shall be deemed to have parental approval for all transactions under this Agreement. The said parents or legal guardians are responsible for their activities.
Definitions and Interpretation
In these Terms:
a. Account: An account providing access to Platform services and benefits.
b. Business Account: An account for larger teams or businesses, enabling shared payments, order tracking, and feedback consolidation.
c. Buyer: A user purchasing Goods and/or Services in a transaction.
d. Goods and/or Services: Digital items, goods, or services offered by the Seller on the Platform.
f. Information: Any details, content, data, maps, etc.
g. Sale Contract: Agreement between the relevant Seller and Buyer through the Platform for the sale of Goods and/or Services.
h. Seller: A seller registered with LOOTXCHANGE offering Goods and/or Services on the Platform.
g. LOOTXCHANGE Services: Services and features provided by LOOTXCHANGE through the Platform, facilitating Seller and Buyer interaction.
h. User: Any person registered on the Platform.
j. Privacy Policy: LOOTXCHANGE’s policy on processing Personal Data.
k. Platform: The online platform (website, mobile site, or mobile application) developed and/or operated by LOOTXCHANGE.
l. You/Your: All users of the Platform, including Sellers and Buyers.
Applicability and Acceptance of Terms of Service
3.1 To use the Platform, you agree to the Terms of Service, including Privacy Rules, and other Terms published by LOOTXCHANGE.
3.2 LOOTXCHANGE reserves the right to modify these Terms for important reasons, providing 14 days’ notice.
3.3 The Regulations are in English. In case of inconsistency with translations, the English version prevails.
3.5 Users agree to electronic communication for all contractual purposes.
Users’ Accounts
4.1 To access the Platform and LOOTXCHANGE Services, create an Account through the Registration Process.
4.2 Users are responsible for keeping Account credentials secure, reporting unauthorized access promptly. LOOTXCHANGE is not liable for actions through the Account.
4.3 Monitor all Account activities, report unusual events promptly.
4.4 Each person is limited to one Account. LOOTXCHANGE may suspend fraudulent accounts.
4.5 Users understand the limited and revocable license to items in their account. No items can be exchanged for cash.
4.6 User accounts are not for savings or investment. Products are for acquiring goods and services, not investment.
Service Fees
5.1 LOOTXCHANGE collects commissions from Seller-determined prices. Use of the Platform, Account creation, and buying Digital Content are free, with LOOTXCHANGE’s commission derived from sale prices.
5.3 Users are responsible for remitting fees and taxes related to their platform use. LOOTXCHANGE is not responsible for settling fees.
Sale Contract
6.1 Sale Contracts are between Sellers and Buyers, excluding LOOTXCHANGE’s liability. LOOTXCHANGE facilitates transactions but does not control the quality, safety, or legality of items.
6.2 Sale Contracts must adhere to Terms, including diligent completion of obligations and compliance with instructions and policies.
6.3 In conflicts, users are encouraged to resolve issues amicably. LOOTXCHANGE may intervene at its discretion. Users must follow LOOTXCHANGE’s instructions in dispute resolution. Users release LOOTXCHANGE from any claims arising from disputes.
Payment
7.1 Payment Processing
(a) When you submit payment details to LOOTXCHANGE or its payment processors, you assert that you are the authorized user of such information, including credit card, PIN, key, or associated account. You grant LOOTXCHANGE and the payment processors the authority to charge you for purchases, subscriptions, or any other fees incurred.
(b) LOOTXCHANGE, at its discretion, may examine and verify (i) details related to the Marketplace listing, (ii) the buyer, and (iii) the seller. In this verification process, additional identification may be required from the buyer or seller, such as a valid driver’s license, during or before the transaction. Users may need to undergo additional security measures to confirm identity. LOOTXCHANGE reserves the right to reject items believed to be fraudulent, invalid, inauthentic, stolen, from an unauthorized source, involved in illegal activities, or posing financial risks.
(c) By using third-party Payment Processors, you acknowledge that payment processing services are provided by these third parties. To sell, you agree to provide accurate information about yourself and your business to LOOTXCHANGE, allowing the sharing of information in accordance with the Payment Services Agreement.
7.2 Buyer Payment
The buyer must pay the Sale Contract Sum through the payment gateways on the Platform, subject to any Terms of Service imposed by the relevant payment gateway service provider.
7.3 Seller Payment
(a) After successful delivery and submission of necessary documentation, LOOTXCHANGE will credit the Sale Contract Sum to the seller’s account via the selected payment method, deducting applicable fees. LOOTXCHANGE retains the right to withhold any sum under this Agreement, provided there are no complaints or disputes from the buyer, and the buyer has received the Goods/Services.
(b) LOOTXCHANGE may withhold the Contract Sum based on its determined period, as specified in this Agreement, including relevant Policies.
(c) Payments to the seller will adhere to timeframes set by LOOTXCHANGE, subject to variations determined by LOOTXCHANGE at its discretion.
(d) You are not entitled to offset any payment due to LOOTXCHANGE against any claims or payments due to you.
(e) If LOOTXCHANGE suspects fraudulent activity, it may, at its absolute discretion, cancel any payment request.
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