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. By using this service, you fully understand and agree to abide by these rules, including any future modifications or improvements, and you are voluntarily bound by them.
I. Definition of Trusted Advertiser
A “Trusted Advertiser” refers to one who has a strong crypto-to-fiat (and vice versa) trading record on Huobi P2P and who has passed the application reviewed by Huobi. A 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, Huobi 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. The advertiser is a Huobi P2P Valued advertiser and meets the security deposit requirements.
2. Within three (3) months prior to the date of the Trusted Advertiser application submission, there is no Huobi users' feedback that the applicant's 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. The advertiser's 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 assessments conducted by the Risk Control Department and other service departments regarding comprehensive service quality and risk control for their account.
7. The advertiser has not engaged in any misconduct that may damage Huobi's reputation, including but not limited to directing trading users (sellers) to offline trading or participating in illegal financing or fraud. Huobi reserves the right to pursue legal action against the advertiser.
8. The advertiser meets any other conditions as may be prescribed Huobi.
9. The advertiser agrees 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 Huobi and place a security deposit on the platform according to the rules stipulated by the platform.
How to Apply: Contact Poloniex Customer Service or the Advertiser Manager of the Platform and fill out the Huobi Trusted Advertiser Application Form
Our team will review and evaluate your application as soon as possible, and update in batches according to the application time. Poloniex 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 Advertiser 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 order amount, up to a maximum compensation value of 1,000 USDT per order. The compensation shall be paid in USDT.
2. Conditions for Compensation:
In the event that the trading user (seller) discovers its payment account used for transacting with the Trusted Advertiser has been frozen for seventy-two (72) hours or more, they can notify Poloniex 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 (seller's) payment account has been frozen due to a transaction completed with the Trusted Advertiser.
(2) An order from a relevant national authority demands Poloniex to provide trading records of a trading user (seller) with respect to a particular transaction that was completed with the Trusted Advertiser.
(3) The trading user’s (seller's) frozen receivables account has only traded on Poloniex and only with the same Trusted Advertiser for the past ninety (90) days before such application for compensation was created.
(4) Poloniex has verified that the Trusted Advertiser’s payment account was subject to a freezing order by the relevant authorities (e.g., courts or other judicial authorities).
(5) 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 (seller's) payment account has been frozen due to the Trusted Advertiser's transaction behavior.
If the trading user (seller) is able to prove that they fulfill at least two of the above-mentioned circumstances, Poloniex shall assess and make a judgment based on their provided evidence. Poloniex's judgment is made based on the feedback provided by the trading user (seller) to the platform and the evidence provided by the Trusted Advertiser to the platform. Poloniex is not responsible for the collection and provision of any evidence, nor is it obligated to initiate the compensation process.
Poloniex 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 a Trusted Advertiser loses their Blue Shield Badge, they shall continue to fulfill their obligation to compensate trading users (sellers) if the Trusted Advertiser has determined that the compensation obligation has arisen prior to termination of their Blue Shield Badge.
3. The following situations will not be covered by the Trusted Advertiser compensation scheme:
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 Poloniex within thirty (30) days from the date of their account being frozen;
(3) Other funds that have been remitted to the frozen payment account.
(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 (seller) discovers that their payment account used in completing the transaction with the Trusted Advertiser has been frozen.
Step 2: The trading user (seller) 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 Poloniex's online customer service or contact firstname.lastname@example.org via email to give feedback.
Step 4: Poloniex will verify in accordance with these Terms and Conditions whether the trading user’s (seller's) payment account is frozen 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 (seller) to lift the frozen status on its payment account within thirty (30) days from the date of the verification made by Poloniex under step 4. The trading user (seller) 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 (seller) in unfreezing its payment account, Poloniex shall notify the Trusted Advertiser to make the necessary compensation to the trading user (seller) within three (3) business days from the date of expiration of the aforementioned thirty (30) days.
Step 6: The Trusted Advertiser compensates the trading user. If the Trusted Advertiser refuses to compensate the trading user (seller), Poloniex 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 they have refurnished the security deposit in full.
1. If Poloniex has verified that the payment account freeze was not the fault of the Trusted Advertiser, the trading user (seller) shall be notified that they are unable to receive any compensation (“No Compensation Notice”). If the trading user (seller) 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
Poloniex reserves its right to terminate the Trusted Advertiser's Blue Shield Badge in the following circumstances:
1. The Trusted Advertiser refuses to perform its obligations, i.e. compensating the trading user (seller). Poloniex will deduct the compensation from the Trusted Advertiser’s security deposit in such event and terminate its qualification.
2. 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.
In the above-mentioned cases, Poloniex 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.
3. If the Trusted Advertiser voluntarily applies for the termination of the Blue Shield Badge, they shall contact Poloniex’s customer service or advertiser manager in advance and make an application. Upon approval of the platform, the Trusted Advertiser shall lose their 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 (seller).
4. For orders that have been initiated and/or completed immediately prior to the date of termination of the Trusted Advertiser’s Blue Shield Badge, 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. In any other circumstances, no compensation will be provided.
5. A Trusted Advertiser who had their Blue Shield Badge terminated may not apply for it until after ninety (90) days have elapsed since the date of termination.
VII. Special Statement
- The Trusted Advertiser qualification application review and security deposit requirement imposed by Poloniex 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. Poloniex 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 (seller).
- Any disputes between the Trusted Advertiser and the trading users (sellers) shall be resolved and handled solely by the two aforementioned parties. Poloniex shall not be liable for the dispute resolution process or result in any form or manner.
- Poloniex is committed to making impartial and independent judgments in accordance with these rules. However, it is important to note that Poloniex itself is not a judicial institution and does not bear any responsibility for the professionalism, scientific accuracy, objectivity, or any other aspects of the judgment results. Additionally, the platform does not assume any responsibility for the basis or outcomes of the judgments made under these rules.
VIII. Tips for Trading Users (Sellers)
A trading user (seller) can use a special payment account to conduct transactions on Poloniex. This assists the platform in making a more objective and accurate judgment on whether the trading user's (seller's) payment account is frozen due to the fault of the Trusted Advertiser.
The above tips do not constitute financial or legal advice, and trading users (sellers) are free to make decisions at their sole discretion.
Poloniex reserves the right of final interpretation of these rules.