CiP

Draft. This text has not been legally reviewed. Terms for a payment service may be subject to specific regulation (e.g. MiCA and the Swedish Payment Services Act). Highlighted parts like this must be settled before publication. The Swedish version prevails.

Terms of Use

Effective [date] · Version 0.1

1. The service

CiP is provided by Coined Investment Pool Company AB, reg. no. 559770-6717 ("CiP", "we"). With the app you can receive, hold and send cip to other users. Each transfer is recorded on the CiP ledger and confirmed by several independent nodes.

2. What a cip is

A cip represents a share of the assets held as collateral behind cip. The value per cip shown in the app is calculated as the value of those assets divided by the number of cip in circulation. It is not a market price and not a promised redemption price. The value can go up as well as down.

[Describe whether and how cip can be redeemed, for what, at what price and with what fees. State the legal classification of cip.]

3. Account

You must be at least [18] years old and have a phone number you use yourself.
You create the account with your name and phone number and verify the number with a code. The details must be correct.
The account is personal. You are responsible for protecting the phone that has the app, for example with a screen lock.
If you lose your phone, you can sign in on a new phone with your phone number. Contact us if you suspect someone else has access to your account.

4. Transfers

A transfer that has been confirmed on the ledger cannot be reversed. Check the recipient and amount before you send.
A transfer may be refused, for example if the balance is insufficient or the account is blocked.
Fees: [none / state fees].

5. Acceptable use

You may not use CiP for anything illegal, for money laundering or terrorist financing, for fraud or in a way that harms the service or other users. We may restrict or block an account if we have reason to believe these terms are being broken or if the law requires it.

6. Availability and changes

We aim to keep the service available but cannot guarantee that it always works without interruption. The service is under development and features may change. [Describe what applies during the test period, e.g. that test balances may be reset.]

7. Liability

[Limitation of liability; to be adapted to applicable consumer law.]

8. Termination

You can stop using the service whenever you like and ask us to close the account via info@cip.se. [What happens to a remaining balance?]

9. Personal data

How we process personal data is described in our privacy policy.

10. Changes to these terms

We announce material changes in the app at least [30] days before they take effect.

11. Governing law and disputes

Swedish law applies. Disputes are settled by the Swedish general courts. As a consumer you can also turn to the National Board for Consumer Disputes (ARN), www.arn.se.

12. Contact

Coined Investment Pool Company AB, [postal address], info@cip.se.