| Poloniex OTC Transaction Policy | |
|
General Rules: 1. This Policy will come into effect from the date of promulgation and will be revised or improved from time to time. The revised or improved new rules will take effect from the date of promulgation. 2. If you do not agree with this Policy and/or the revised or improved rules, please stop using Poloniex's OTC services immediately. 3. If you continue to use the services, it is deemed that you fully understand and accept the Policy and the rules revised or improved from time to time, and are voluntarily bound by them.
Buyer's Instructions: After an order is created, the Buyer should: 1. Complete the payment within the time specified in the order, and then click “I've paid”. 2. Use a payment method with the account owner name that is consistent with your registered name on Poloniex and complete the payment in real time according to the amount and the receiving account specified in the order. 3. If the Buyer chooses a non-real-time payment method, they must obtain the Seller's consent in advance.
Seller's Instructions: After an order is created, the Seller should: 1. Provide a receiving account certified by the platform. 2. Release the digital assets within the time specified in the order after receiving the Buyer's full payment. 3. The Seller shall not ask the Buyer/Customer Service to cancel the order without the consent of the Buyer. 4. The Seller shall not dispute the price of the created order without the consent of the Buyer.
Note: Non-real-time payment methods currently include options such as Alipay transfer to bank card, WeChat transfer to bank card, and single transfers for orders exceeding 50,000 CNY made between 17:00 and 09:00 (UTC+8). Please be aware that the specific non-real-time payment methods may be subject to adjustments as the business operations of each payment channel evolve. |
|
|
All users should abide by the anti-money laundering (AML) principles: 1. Users should comply with the User Guidelines for Anti-Money Laundering and Counter-Terrorism Financing on Poloniex OTC Platform and fulfill relevant obligations accordingly. 2. Users should strictly follow the Platform's requirements for real-name verification of user identities and accounts to ensure that the relevant accounts displayed on the platform are legally registered and used only by users themselves. 3. When triggering the platform's AML alarms, users should actively cooperate with the Platform in subsequent verification and assist in providing relevant risk control evidence (The specific measures are subject to the Platform's risk control review at that time). |
|
| Abnormal trading behaviors of the Buyer | Measures |
| 1. The Buyer cancels an order after it is created. Or an order is automatically canceled as payment is not made within the time limit after the order is created. | If the Buyer commits the same behavior 4 times on the same day, the system will prohibit the Buyer from buying for that day. If the Buyer commits the same behavior 4 times for 2 consecutive days, the system will further disable certain features of the Buyer's account. |
| 2. The Buyer clicks "I've paid" when the payment is not yet made. | The Seller has the right to request to cancel the order. If the Buyer is appealed twice on the same day, the system will disable certain features of the Buyer's account. If the amount of such an appeal exceeds 50,000 CNY (equivalent) in a single transaction, the system will directly disable the Buyer's account for 48 hours. |
| 3.The Buyer clicks "Appeal" for no reason before making the payment when the Seller has not violated any rules. | The Seller has the right to request to cancel the order. If the Buyer is appealed twice on the same day, the system will disable certain features of the Buyer's account. |
| 4. The Buyer uses a payment method that is not shown on the Seller's order details page. | The Seller has the right to cancel the order after a refund. While the digital assets are returned to the Seller, the Buyer shall bear the risk of making the wrong transfer. |
| 5. The Buyer clicks "I've paid" when the payment is not made and then makes the payment. | The Seller has the right to continue the transaction or cancel the order after a refund. 1) If the Seller chooses to complete the transaction, they shall release the digital assets within 10 minutes after receiving the full payment. 2) If the Seller chooses to cancel the order, they shall refund within 2 hours after appealing about the order, while the digital assets will be returned to the Seller. |
| 6. The Buyer uses a payment account that does not match the real name of their Poloniex account. | The Seller has the right to reject the transaction. The Seller shall refund within 48 hours after receiving the payment from the Buyer, while the digital assets will be returned to the Seller. Payment made with a corporate account is a non-real-name payment no matter whether the legal person's name is consistent with the account owner's real name or not. If the Buyer is appealed twice on the same day due to a non-real-name payment, the system will disable certain features of the Buyer's account. |
| 7. The payment is made within the time specified in the order, but the order is canceled. 1) The Buyer has completed the full payment, but the order is canceled by the Buyer or automatically canceled by the system due to timeout. 2) The Buyer has completed part of the payment, but the order is canceled by the Buyer or automatically canceled by the system due to timeout. |
If the order is canceled by the Buyer or automatically canceled by the system due to timeout, the Seller has the right to complete the transaction or cancel the order after a refund. 1) If the Seller chooses to complete the transaction: |
| 8. In the case of multiple payments, the Buyer clicks "I've paid" before completing all the transfers, and then proceeds to complete the payment. | 1) If the Buyer communicates with the seller in advance and the Seller allows the behavior, the Seller shall proceed to complete the order. 2) If the Buyer does not obtain the Seller's consent in advance, the Seller has the right to continue the transaction or cancel the order after a refund. a. If the Seller chooses to continue the transaction, they shall release the digital assets within 10 minutes after receiving the full payment. b. If the Seller chooses to cancel the order, they shall refund within 30 minutes after receiving the payment. The digital assets will be returned to the Seller. |
| 9. The payment amount does not match the order amount. | 1) If the payment amount is greater than the order amount, the order is deemed completed and the Seller shall refund the excess amount within 30 minutes after receiving the payment. 2) If the payment amount is less than the order amount, the Seller has the right to continue the transaction or cancel the order after a refund. a. If the Seller chooses to continue the transaction, they are entitled to complete the transaction according to the actual order amount and complete the order. b. If the Seller chooses to cancel the order, they shall refund within 30 minutes after receiving the payment. The digital assets will be returned to the Seller. |
| 11. After the Buyer clicks "I've paid", the Seller has not received the payment within 1 hour. | 1) The Seller has the right to continue the transaction or cancel the order after a refund. a. If the Seller chooses to continue the transaction, they shall release the digital assets within 10 minutes after receiving the payment. b. If the Seller chooses to cancel the order, they shall refund within 30 minutes after receiving the payment. The digital assets will be returned to the Seller. 2) If the Seller is an advertiser and files an appeal with the evidence of no payment received, while the Buyer cannot be contacted within 10 minutes after being appealed, our appeal resolution specialist will cancel the order for the Seller if the order amount is less than the advertiser's security deposit. |
| 11. After payment is received, the Seller's receiving account cannot verify the real-name information of the payment. | 1) If the Buyer's payment account is verified to be the same as their real-name account on Poloniex, and the payment is completed within the time specified in the order, the order is valid. 2) If the Buyer's payment account is verified to be inconsistent with their real-name account on Poloniex, please refer to Article 6 above for handling measures. |
| 12. The Seller's receiving account is abnormal after the Buyer has made the payment. | 1) If the Buyer is unable to provide proof that their account could trade normally, the Seller shall refund within 24 hours after the receiving account could trade normally. The order will then be canceled by the platform. 2) If the Buyer is able to provide proof that their account could trade normally and after the Buyer's account is verified to be normal, the order is deemed completed and the Seller shall release the digital assets. For example, if the Seller is a Verified Advertiser, and the amount of the order is less than the security deposit, the Seller shall refund within 24 hours after their receiving account could trade as usual. |
| 13. Use sensitive words or expressions in the remarks field during the payment, such as digital assets, BTC, Bitcoin, and Poloniex. | The Seller has the right to continue the transaction or cancel the order after a refund. 1) If the Seller chooses to continue the transaction, they shall release the digital assets within 10 minutes after receiving the payment. 2) If the Seller chooses to cancel the order, they shall refund within 60 minutes after receiving the payment. The digital assets will be returned to the Seller. If the Seller's account is frozen thereof, please refer to Article 12 above for handling measures. |
| 14. The Buyer is determined by the risk control system as maliciously scrambling for low-priced orders. |
1) If the Buyer has not made the payment, the Platform will cancel the order and return the assets to the Seller. 2) If the Buyer has made the payment, the Seller shall refund within 10 minutes after the appeal is handled. The Platform will assist in canceling the order and returning the assets to the Seller. If the Buyer commits the same behavior twice, the risk control system will disable certain features of the Buyer's account. |
| Note: The above rules involve refund or asset release by the Seller, and if the Seller fails to complete the operation on time, the system will disable certain features of the Seller's account. | |
| Note: If you provoke a verbal conflict such as using foul and offensive language in the process of using the third-party telephone system for OTC transactions, the system will disable certain features of your account. | |
| Abnormal trading behaviors of the Seller | Measures |
| 1. The Seller is solely responsible for the receiving account displayed on the order details page and the one sent in the order chat window. | If the Seller provides a receiving account that they do not own, links another person's receiving account, or sends another person's account to the chat window, the assets will be determined to belong to the Buyer once the payment is completed. |
| 2. The Seller disputes the price after the order is created. | Unless the order price is negotiated with the agreement of the Buyer, the order is normally filled and the Seller shall release the digital assets within the specified time. |
| 3. The receiving account provided by the Seller is abnormal. | The Buyer has the right to continue the transaction or cancel the order. 1) If the Buyer chooses to continue and completes the full payment in the specified time, the Seller shall release the digital assets within the time specified in the order after receiving the full payment. 2) If the Buyer chooses to cancel the order, the Seller shall refund and the digital assets will be returned to the Seller. |
| 4. The Buyer is unable to complete the payment as the Seller does not provide a valid receiving method in time, resulting in the cancellation of the order. |
If the order cannot be filled because the Seller fails to provide a valid payment receiving method, the Platform will directly cancel the order and penalize the Seller when handling the appeal. Order cancellation by the platform will not be counted towards the Buyer's daily limit of cancellations. If the Seller is appealed twice on the same day due to such behavior, the system will disable certain features of the Seller's account. |
|
5. The Seller (non-Advertiser) does not link valid payment information consistent with the real name, or provides the Buyer with a payment receiving method inconsistent with their real name on the Platform. For example, the Seller receives payment through Alipay or WeChat, but the payee name of the account number and QR code does not match the one displayed on the order details page. |
1) The Buyer has the right to cancel the order and file an appeal about the Seller. If the Seller is appealed 3 times due to such behavior, the system will permanently disable the Seller's account. 2) If the Buyer chooses to continue the transaction, they shall bear the risk of making the wrong transfer. |
| 6. The Buyer's name of the payment account is inconsistent with that of the Poloniex account, but the Seller does not reject the transaction. | 1) The Seller shall bear the risk of continuing the transaction. 2) If there is any appeal caused thereof, the system will disable certain features of the Seller's account. |
| 7. When the Buyer clicks "I've paid" after full payment, the Seller does not release the digital assets within 20 minutes after receiving the full payment. |
The Buyer has the right to continue the transaction or request a refund after canceling the order. For example, if the Buyer clicks "Appeal" within 20 minutes after completing the full payment, which makes the Seller unable to release the assets or contact the Buyer in the chat window, the order will be normally completed. |
| Note: If you provoke a verbal conflict such as using foul and offensive language in the process of using the third-party telephone system for OTC transactions, the system will disable certain features of your account. | |
| Risk control abnormalities | Measures |
| 1. When abnormal behaviors are detected by the risk control system, a user explicitly refuses or does not actively cooperate with the Platform for subsequent AML verification. | The Platform will directly determine the account as abnormal, including but not limited to raising the user's risk level and directly freezing the accounts of such users and related accounts until risk control evidence provided by the user has passed the risk control review by the Platform. |
| 2. A user is found to be engaged in high-risk activities such as buying digital assets from Poloniex OTC and selling them for profit on other platforms or off-market groups. |
The Platform will take measures including but not limited to postponing withdrawals, restricting transactions, and freezing accounts, depending on the circumstances. Note: Once such behaviors are identified, advertisers may choose to not complete the transactions if there are ongoing orders. |
| 3. The account is not used by the user or illegally used to buy/sell digital assets for others: A user is found by the Platform's risk control to have sold, loaned, or leased their account to others, or have illegally bought/sold digital assets for others. Risk warning: Please keep your information safe to avoid being exploited by others for criminal acts. |
The Platform will take one or more measures, including but not limited to temporarily or permanently disabling the OTC trading function, delaying or disabling the withdrawal function, or directly freezing such users' accounts and associated accounts. Note: Once such behaviors are identified, advertisers may choose to not complete the transactions if there are ongoing orders. |
| 4. Making use of other Poloniex users' accounts to test whether their card is frozen: A user transfers small amounts to other Poloniex users when there are no orders without a reasonable explanation for such behavior. | The Platform will take one or more measures, including but not limited to temporarily or permanently disabling the OTC trading function, disabling the withdrawal function, or freezing such users' accounts. |
| 5. Receiving or introducing digital assets or funds from illegal sources: A user knows or can reasonably infer with common sense that the digital assets and funds received from other platforms/communities are illegal, yet still ignores the risks and allows them to flow into the accounts of other Poloniex users. | The Platform will directly and permanently disable all features of such users' accounts and related accounts. |
| 6. Being identified as having committed money laundering: A user is detected by the risk control system or verified by risk control staff as having directly participated or assisted in criminal activities such as money laundering. | The Platform will directly and permanently disable all features of such users' accounts and related accounts. |
| 7. Account subject to judicial freezing: A user's account is frozen by a judicial authority. | The Platform will strictly freeze the user's account following the document issued by a judicial authority. When the freezing period expires, the judicial authority needs to present a renewal document to extend the freezing period. During the freezing period, the user shall contact the relevant judicial authority, instead of the Platform, to resolve the problem. |
| 8. Judicial investigation: A user is requested by a judicial authority to provide the account information on the Platform, in the forms of judicial investigation, consultation, and others. | The Platform will disable certain features of such users' accounts and related accounts as appropriate. |
The P2P merchants and services on Poloniex are provided by Huobi. By confirming this transaction, you acknowledge and agree to Huobi Platform User Agreement.