MT Standard Trust Agreement

1) TERMS AND CONDITIONS OF MT STANDARD TRUST SERVICES
a) Welcome to MT Standard Trust Services. This Service Agreement ("Agreement")
is a contract between you ("you," "your" or "Client or Settlor") and Marathon
Corporate Services Limited “Trustee” and their heirs. It assigns in the capacity
of “Trustee.”
b) The agreement Governs MT Standard Trust Services and the use of:
i) the VBranch smartphone app, our website located at mcoserv.com and any
associated MCOSERV-hosted websites or mobile applications (collectively
the "Site"), and
ii) any of the services provided by MT Standard Trust (together with the Site,
the "Services" and by interacting with the Trustee Directly).
c) Marathon Corporate Services Limited (the "Trustee") is a licensed Trust and
Company Services Provider ("TCSP") registered in Hong Kong (License Number:
TC006228). The company’s offices are at 11/F Tower 2 Admiralty Centre,
Admiralty, Hong Kong SAR.
d) This Agreement incorporates, and you hereby accept and agree to the
applicable policies, website notifications and guidelines that are provided or
made available to you, appear on our website or as referenced in this Agreement
and which we may modify from time to time.
e) Your agreement is signified by your digital signature provided through the signup process online wherein you are required to read The Trust Deed and Service
Agree, and to confirm your agreement, as a prerequisite of joining the trust. Or
by you signing an application offline and submitting it together with required
AMLO documentation to the trustee.
f) This agreement is in effect from the date that you sign-up to be a Client of the
trust until you cease to be a Client either by terminating your trust accounts and
agreement with the trustee voluntarily or such time as your Trust is terminated
by the Trustee or at the direction of the Trustee.
g) You may not transfer or assign any rights or obligations you have under this
Agreement to any third party without our prior explicit written consent.
h) We reserve the right to transfer or assign this Agreement or any right or
obligation under this Agreement at any time without your consent. You hereby
already consent to any such future transfer or assignment. This does not affect
your rights to close your account.
i) This agreement is the governing agreement for all accounts in effect from
February 2, 2020
2) AGREEMENT
a) Only Clients of the MT Standard Trust may use the VBranch App. When you
signify your acceptance of this agreement, you are, by reference, herein agreeing
to the terms of the MT Standard Trust Deed and our Privacy Policy, which are
available to be viewed through the App or via a browser on our website
http://mcoserv.com.
b) This Agreement strictly applies to our services in respect of our MT Standard
Trust Services Vbranch App, wallet and payment apps and all ancillary and
supporting services including, but not limited to, buying, selling, trading of
investments and making and receiving payments in and providing custody for
and of cryptocurrencies as well as delivering FIAT Currency payment systems,
FIAT wallet functions; including payments made from FIAT cash accounts,
Credit cards and prepaid credit cards making or receiving of remittances
generally on behalf of Clients, and other ancillary financial services and asset
custody arrangements as the Trustee deems appropriate for the Clients.
i) By using Services, printing and/or downloading materials from the Site, or
otherwise using the Site, you agree to comply with and be legally bound by
this Agreement. If you do not agree to any of the terms set forth in this
Agreement, you will not be permitted to access or use any of the
Services.
ii) Each time you access or use the Service to undertake a Transaction, you
must acknowledge and consent to the Charges and/or Exchange Rates as
Schedule I of this Agreement or otherwise posted on the Site. By proceeding
with a Transaction, you confirm your understanding of and consent to the
Charges and Exchange Rates. If you fail to understand or consent to the
Charges and Exchange Rates, you may not proceed with an Exchange
Transaction
iii) You must meet the following criteria to be able to use our services:
c) You must be eligible to be a Client of the trust or a duly appointed representative
or agent of a Client.
d) Any legal person may be a Client.
i) Any Client that is not a natural person must be represented by a duly
appointed representative that is a natural person over the age of majority, or
ii) A Natural person over the age of Majority who is the Duly Representative,
Agent, or Authorised Signing Authority of any legal person that is not a
Natural Person. Or;
iii) A trustee acting on behalf of a Trust
iv) You have the full legal capacity to enter into a contract; and
v) If you are a Natural Person, you must be at least 18 years old or of the age of
majority and contractual capacity in the jurisdiction where you reside.
e) By accessing or using the Services, you warrant and represent that you are 18
or older and otherwise are legally competent to enter into this Agreement.
f) You must not be acting on behalf of or for the benefit of anyone else unless you
are the duly appointed Authorised Agent or Representative of the Legal Person
who has authorized you to open an account with us. If you are acting on behalf
of a Trust, you must be the Trustee or, a Natural person that the Trustee of the
formally authorized, to open an account on their behalf. If you are using our
Services on behalf of a legal entity other than yourself, you represent and
warrant that you are authorized to bind that entity to these Terms. When these
Terms refer to “you,” it means they will refer to you and that entity, and that entity
agrees to be responsible for you and any other Client that accesses the Services
on its behalf, including for your and their compliance with these Terms.
g) We may restrict or prohibit access to or use of all or some of our Services from
certain locations in countries, depending on various regulatory requirements.
i) We may amend or modify this Agreement by posting a revised Agreement
on the app and Site and, where applicable, by notifying you 60 calendar days
in advance about the upcoming changes and modifications by email.
Continued use of the Site or Services after we have posted a revised
Agreement, signifies your agreement to the modified Agreement You further
agree that we may (a) modify or discontinue any portion of the Services, and
(b) suspend or terminate your access to the Services, at any time, and from
time to time, without notice to you in certain, limited circumstances
described herein. You agree that we shall not be liable to you or any third
party for any modification or termination of the Services, or suspension or
termination of your access to the Services, except to the extent otherwise
expressly set forth herein.
ii) Capitalized terms not otherwise defined in context are defined at the end of
this Agreement.
3) HOW IT WORKS
a) The Services are made available to you subject to terms and conditions of this
Agreement.
b) After you have established a MT Standard Trust, you may utilize any service
which is available in the app.
c) If your Exchange Transaction involves selling virtual currencies for FIAT
currencies, you are responsible to ensure that such Cryptocurrency has first
been acquired either from a third party, or through an exchange either by the
Trustee or though transfer to the trustee..
d) All transactions must be verified. In particular, blockchain transactions are
subject to obtaining a certain number of blockchain confirmations before such
transactions can be validated., We may reject a Transaction when required by
applicable laws and regulations, and we will inform you accordingly about this
fact and also provide you with reasons for our refusal unless we are not
permitted to make such disclosures based on applicable regulations.
e) Cryptocurrency Exchange Transactions
f) To initiate a Cryptocurrency Exchange Transaction, you will need to:
i) Place Cryptocurrency in Trust with the Trustee
(1) transfer Cryptocurrency to your MT Standard Trust, or
(2) Using Fiat currency in your MT Trust Account, Purchase Cryptocurrency
in your MT Standard Trust.
ii) for cash pay outs, agree with us on an Exchange Rate, which is valid for the
Exchange Period and which will determine the amount of Cryptocurrency to
be debited from your MT Standard Trust as well as the amount of FIAT
Currency to be transferred to the Payee Account net of applicable Charges;
iii) designate a Payee Account into which the FIAT Currency is to be deposited;
and
iv) confirm your Exchange Transaction.
v) Once you confirm an Exchange Transaction, you have irrevocably authorized
us to debit the designated amount of virtual currency (for example,
Cryptocurrency) from your MT Standard Trust, and you may not cancel the
Exchange Transaction. The corresponding amount of virtual currencies
(such as Cryptocurrency) debited from your MT Standard Trust becomes the
property of VBranch.
vi) Upon debiting the designated amount of Cryptocurrency from your MT
Standard Trust, we will deposit the designated amount of FIAT Currency, less
the applicable Charges, to the designated Payee Account, specified by you.
vii) We will notify you and, if applicable, the Designated Payee of the successful
transfer of FIAT Currency to the Payee Account.
viii) Any designated amount deposited to the payee account in excess of the
agreed designated amount shall be considered an overpayment. Upon due
notification and instructions, you shall be obliged to refund the excess
amount as instructed.
ix) If you fail or default in refunding such overpayment, the Trustee may, and is
hereby authorized to, at any time, with or without notice to you, and to the
fullest extent permitted by law, to set off and apply any or parts or all
designated amount you shall be entitled to in subsequent exchange
transactions, to satisfy the overpayment.
g) Cryptocurrency Purchase Transactions
i) To initiate a Purchase Transaction, you will need to:
ii) have sufficient funds in your VBranch Cash account or a mobile wallet
account or another valid payment instrument supported by us, that you will
use to initiate the transfer to us by following applicable instructions provided
to you via our web interface.
iii) agree with us on an Exchange Rate, which is valid for the Exchange Period
and which will determine the amount of Cryptocurrency or another virtual
currency supported by us, to be transferred to your designated Account as
well as the amount of FIAT Currency to be transferred us, net of applicable
Charges;
iv) choose a Payor Account into which the Cryptocurrency or another virtual
currency is to be deposited and confirm your Exchange Transaction.
v) If you are using a VBranch Cash account, once you confirm a Purchase
Transaction, depending on the payment method you use, you will either be
required to transfer to us the corresponding amounts in the FIAT Currency
or other payment instrument or, you will irrevocably authorize us to debit the
designated amount of FIAT Currency from the valid bank account linked, and
you may not cancel the Purchase Transaction.
(1) Upon receipt of FIAT Currency, we will deposit the designated amount of
Cryptocurrency, less the applicable Charges, to the designated Payee
Account.
(2) We will notify you of the successful transfer of Cryptocurrency to the
Payor Account.
vi) If we do not consummate the Transaction during the Exchange Period, we
may either: (a) continue to attempt to process the Transaction for up to seven
(7) days; or (b) terminate the Transaction and credit your MT Standard Trust
for the appropriate amount of Cryptocurrency or FIAT Currency debited in
connection with such Transaction, without incurring any additional
obligation or liability.
h) Purchase of other Products and services.
i) As a Client of the Trust, you are eligible to purchase other products and
services offered under the trust. Each of these products and services will be
subject to the terms and conditions contained in offering information made
available to you as a Client, specific to any given product and service.
ii) If you subscribe to such other offers and or services, you are deemed to have
read the offering materials, whether presented online or in paper form, offline
and agreed to them.
i) Fees and Charges
i) You hereby agree to promptly pay all fees and service charges which arise
from your Trust Services including, without limiting the generality of the
foregoing, Trust and sign up fees, Asset under Administration fees buying,
selling, and trading fees, foreign exchange fees and costs and any other fees
levied by the Trust in Hong Kong Dollars or United states dollars at the
Trustees discretion.
ii) You hereby agree to keep a cash balance in a cash account for the payment
of such fees as directed by the Trustee.
iii) the Trustee shall collect fees and charges as they come due from your cash
account in trust or as necessary by liquidating trust assets or properties to
pay such fees.
iv) the Trustee is entitled under the terms of this agreement as stated in the
Trust Deed to liquidate Trust assets or Property as and when necessary for
the payment of fees or to liquidate assets or Properties in advance for the
of the fees.
v) the Trustee shall publish a fee schedule from time to time delineating the
respective fees and Charges, either in basis points, percentage or on a fixed
basis as the case may be. Such fee schedule is subject to change without
notice at the exclusive discretion of the Trustee
4) CERTAIN RISKS
a) In connection with a Transaction, we will attempt to confirm that the validity of
the Payee Account or Payor Account to the extent possible; however, the
Trustee cannot confirm, and it is your responsibility to ensure that the Accounts
of the Payee and Payor are those of your intended parties. If we are unable to
deliver the designated FIAT Currency or Cryptocurrency to the designated
account, our only obligation, and your sole recourse, is to terminate the
Transaction.
b) If we terminate the Transaction, our only obligation, and your sole recourse, will
be for the Trustee to credit your MT Standard Trust for the amount of that
Transaction, unless we are required to freeze the funds due to, for example,
suspected risks of money laundering, illegal activities, online fraud and in some
other cases, as required by applicable regulations.
c) We reserve the right to refuse to process or to cancel any pending Transaction
as required by law or in response to a subpoena, court order, or other binding
government order.
d) All blockchain-based transactions are non-reversible. the Trustee cannot
reverse any Transaction that has been communicated to and confirmed, for
example, by the Cryptocurrency network.
e) At your request through the Site, we will use reasonable efforts to transfer to
your designated third-party Cryptocurrency wallet or account, any
Cryptocurrency remaining at any time in your MT Standard Trust that is not
subject to a pending or completed Exchange Transaction.
f) Please be advised that transferring Cryptocurrency to or from your MT Standard
Trust may not be instantaneous.
i) Once you submit your request to the Cryptocurrency network to transfer
Cryptocurrency to VBranch, or
ii) we submit our request to transfer Cryptocurrency to you, the transfer will be
unconfirmed for a period of time (usually less than one hour but could last
up to one day or more) pending sufficient confirmation of the transaction by
the Cryptocurrency network. The transfer is not complete while it is in a
pending state.
iii) Cryptocurrency associated with transfers that are in a pending state will not
be included in your MT Standard Trust balance or be available to conduct
Exchange Transactions.
g) The risk of loss from holding Cryptocurrency in a MT Standard Trust or in a
pending state can be substantial: the price or value of Crypto Currencies
can change rapidly, decrease, and potentially even fall to zero.
h) Upon your confirmation of an Exchange Transaction, during the Transaction
Period, we will honour the Exchange Rate quoted for the Exchange Transaction.
i) However, we are not responsible for, and you agree to hold us harmless
against, fluctuations in the Exchange Rate while Cryptocurrency is in your
own possession, for example, with a third-party custodian,
ii) or while a transfer of Cryptocurrency to or from your MT Standard Trust is
pending.
i) Please be advised that transferring FIAT Currency from a bank account or your
VBranch Cash account may not be instantaneous,
i) subject to local regulations and existing operating procedures that could
vary across different countries and financial institutions,
(1) once your bank or mobile provider’s network receives your request to
transfer FIAT Currency to VBranch, the transfer will be unconfirmed for a
period of time pending sufficient confirmation of the transaction by the
bank or mobile provider’s network.
(2) The transfer is not complete while it is in a pending state. FIAT Currency
associated with transfers that are in a pending state will not be included
in your MT Standard Trust balance or be available to conduct Purchase
Transactions.
j) The regulatory framework in relation to transactions involving virtual currencies
is still emerging. It is possible that your transactions are or may be in the future
subject to various reporting, tax or other liabilities and obligations. Legislative
and regulatory changes or actions at the country, regional (for example, in the
EU/EEA) or international level may adversely affect the use, transfer, exchange,
and value of the Cryptocurrency.
k) There is a risk that your transactions may be affected by system failures resulting
from adverse events, natural disasters and other emergencies and significant
unforeseen changes in the external environment.
l) With regards to opportunity loss (e.g. you lost an opportunity to make an
Exchange or a Purchase Transaction, resulting in loss of hypothetical profits
which could have been obtained) due to things such as emergency situations,
technical failures and force majeure circumstances, we will not take corrective
actions since we are not able to determine the details of the hypothetical
Transaction which would not have been completed.
m) You may not be able to access your Cryptocurrency wallet if you lose your
private key or password to your MT Standard Trust, with the result that your
virtual currency may be permanently lost for you. the Trustee will not be able to
help you.
n) In this case, you will hold us harmless against the loss of your password or key
to such external virtual currency wallets.
o) You accept the risk that a Transaction may be delayed for any reason, and you
agree to hold the Trustee harmless from and against any damages or injury
arising out of or related to such delay.
5) APPLICATION FOR A MT STANDARD TRUST ACCOUNT
a) Natural persons over the age of majority may act as settlors, in addition to other
legal persons including but not limited to Proprietorships, Public, Private and
not for profit Corporations incorporated in Hong Kong or elsewhere,
Partnerships, Associations, societies and Trustees acting on behalf of trust
beneficiaries, whether vested or not as well as Government agencies and NGOs.
b) All Clients and Beneficiaries hereby agree to provide all relevant, beneficial
ownership and tax identity and residency information, and information ( the
Private Client Data) required to meet regulatory responsibility for and to pertain
to “Know Your client, (KYC) risk management and Anti Money Laundering AntiTerrorist Financing (AMLO/ATF) as requested both at the time of Signing up as
a Client and thereafter as required from time to time.
c) the Trustee reserves the right to refuse application service to any party who,
despite qualifying otherwise, is unable or refuses to provide pertinent Client data
required to meet the Trustee’s Information requirements.
d) In the event that any Client is unable or unwilling to provide Private Client
Information as and when required by the Trustee for ongoing or enhanced Due
diligence and the AMLO/ATF requirements the Trustee may hold the Client
accounts in suspense pending satisfactory review or compliance actions as may
be required under the law which may include FIAT and Cryptocurrency held in
accounts on behalf of the Client being held in suspense, frozen, seized or
forfeited as when and if required by relevant regulation, law or court order.
e) All Clients and Prospective Clients who are not Natural Persons must provide
agents and/or representatives who are Natural persons and who provide
requisite Personal Information as part of the Private Client Information for KYC
AMLO/ATF compliance review and risk assessment.
i) The Client must also provide proof of authority to act on behalf of the legal
persons and beneficiaries they represent.
ii) the Trustee reserves the right to refuse to accredit any proposed nominee
should they no meet the information requirements or be unsuitable in the
Trustees Absolute Discretion.
f) Private Client Information; In order to use any of the Services, you must first
download and install the VBranch App and register as a Client or alternatively
Register on the site on the Site and obtain a MT Standard Trust Services are
designed to be offered through the VBranch app with the website offering
facilities for communication involving the delivery of documents, accessing
account histories or other services more easily accessible on larger screens.
g) To register as a Client or their agent/representative will be required to provide
some or all of the following information, upon registration and from time to time
thereafter:
i) Tax Identification number;
ii) Full name;
iii) Residential address;
iv) Email address;
v) Date of birth;
vi) Your taxpayer identification number;
vii) Your telephone number;
viii) Your nationality;
ix) Certified Copy of. passport or other government identification document;
and;
x) A Client name and password.
xi) Credit Card for payments and independent ID Verification:
xii) Biometric Data;
(1) In order to provide state of the art privacy and security through VBranch,
we are committed to adopting and utilizing a range of Biometric data in
the sign-in and transaction verification processes.
(2) Without limiting the generality of the foregoing, such biometric data may
include fingerprints, Iris scans, Facial Scans voice recording.
12 08252020
h) Updates to Credit Card Information. If your credit card number or expiration
date changes, we may update it without any action on your part, and we may
acquire such updated information from a third party, including our financial
services partner, the card networks, and your bank or card issuer. If you do not
want us to update your card information, you may contact your issuer to request
this or remove your Payment Method from your MT Standard Trust. If we update
your Payment Method, we will keep any preference setting attached to such a
Payment Method.
i) Identification and verification of the third-party Cryptocurrency wallet or
account from which you will transfer Cryptocurrency to or from your MT
Standard Trust.
j) All Private Client information is subject to the privacy policies included by
reference in this agreement.
k) Identity Verification. You authorize the Trustee, directly or through third parties,
to make any inquiries we consider necessary to validate your identity, including
as required, to comply with our obligations under applicable laws and
regulations. This may include asking you for further information or
documentation, requiring you to provide personal identification documents
(including copies of your Hong Kong Identification Card or valid travel
document), documents verifying your residential address, requiring you to take
steps to confirm ownership of your email address or financial instruments,
ordering a credit report or verifying your Information against third party
databases or through other sources.
l) Credit Report Authorization. If you open a Business Account or if you access
any service requiring the provision of Credit, you are providing the Trustee with
your written instructions and authorization in accordance with any applicable
law to obtain your personal and/or business credit report from a credit rating
agency. You are also authorizing the Trustee to obtain your business credit
report: (a) when you request certain new products, or (b) at any time the Trustee
reasonably believes there may be an increased level of risk associated with your
Client Accounts.
m) The Client hereby agrees that in order to assess risks and ensure compliance
with relevant laws and regulations in Hong Kong and elsewhere notably, but not
limited to, Cap. 615 Anti-Money Laundering and Counter-Terrorist Financing
Ordinance, and Cap. 455 Organized and Serious Crimes Ordinance, the Trustee
may request additional personal, financial and business information including
statement of financial affairs, (for corporate entities, Books of account) credit
reports, Source of Funds or Source of wealth documents as well as specific
documentation of pertinent transaction details and third party information as or
if requires to assure the Trustee of the probity of the intended transactions.
n) The Client further agrees that if the Trustee is not satisfied with the information
provided or made available by the Client, or for any reason feels that the
transaction falls outside of permitted activity the Trustee may at their absolute
discretion refuse any Transactions and may, at their absolute discretion, hold
the Client accounts in suspense pending satisfactory review or such compliance
actions as may be required under the law, which may include FIAT and
Cryptocurrency held in accounts on behalf of the Client being held in suspense,
frozen, seized or forfeited as when and if required by relevant regulation, law or
court order.
o) The Client and the Agent or Representative of the Client hereby agree to hold
the Trustee harmless from any actions which might arise out of compliance
actions undertaken by the Trustee with regard to or as a result of Crypto or Fiat
currency being or having been, Suspended, Frozen or Forfeited as a result of
Compliance activities by the Trustee or Third-Parties including but not limited
to Third-party Financial or governmental agencies or institutions.
p) Updates to Information. If your credit card number or expiration date changes,
we may update it without any action on your part, and we may acquire such
updated information from a third party, including our financial services partner,
the card networks, and your bank or card issuer. If you do not want us to update
your card information, you may contact your issuer to request this or remove
your Payment Method from your MT Standard Trust. If we update your Payment
Method, we will keep any preference setting attached to such a Payment
Method.
q) Blacklisted countries, jurisdictions, organizations and individuals are not eligible
for the use of or as parties to transactions using VBranch Services. You must be
a resident of an eligible country or jurisdiction and not be a resident in nor
attempt transactions with any countries or jurisdictions entities organizations or
individuals who are blacklisted by.
i) the United Nations or barred under recommendations of
ii) FATF blacklist or OECD blacklist issued by the Financial Action Task Force:
iii) US Government Financial and Trade Sanctions
r) All information you provide must be complete and accurate in all respects. It is
your obligation immediately to update any incomplete or incorrect information
in your MT Standard Trust.
s) All information you provide to us is subject to storage by the Trustee for a period
of seven (7) years after the latest transaction (or such other period as the Trustee
may determine in order to comply with applicable laws and business practices)
for risk management and security reasons, and archival and record-keeping
purposes.
t) If you have previously applied for another MT Standard Trust with any of the
same information, we reserve the right not to approve the registration of a new
MT Standard Trust, and you may be required to access and use your existing
MT Standard Trust.
u) We may be prohibited from providing services or entering into relationships with
certain individuals and entities. In the event that we are required to block assets
associated with your MT Standard Trust in accordance with government
sanctions programs or other legal requirements, we may (i) deactivate or cancel
your MT Standard Trust or block Client activity, (ii) transfer Cryptocurrency from
your MT Standard Trust to an originating source or to another account specified
by governmental authorities, or (iii) require you to transfer your Cryptocurrency
out of your MT Standard Trust within a certain period of time. Neither Vbranch
Trust nor the Trustees are responsible for any losses, whether direct or indirect
that you may incur as a result of our complying with applicable law, the guidance
or direction of any regulatory authority or governmental agency, or any writ of
attachment, lien, levy, subpoena, warrant or other legal order. If you were
previously denied the registration of a MT Standard Trust or had a MT Standard
Trust closed by us, you may not be able to reapply for a MT Standard Trust.
v) Because of the numerous factors involved in our evaluation of an application for
registration of a MT Standard Trust, we reserve the right to decline any
application for a MT Standard Trust registration or any request for a proposed
Transaction, for any reason, permitted by applicable regulations and our internal
policies.
w) Upon successful completion of the registration process, we will establish your
MT Standard Trust.
6) SECURITY AND UNAUTHORIZED USE
a) Only one Security Key and password can be linked to your MT Standard Trust
at any time.
b) You are required not to re-use a combination of Security Key and password for
your MT Standard Trust for any other online service or website, to protect the
security of your MT Standard Trust, not to share your Account credentials with
any other third party.
c) You are responsible for all transactions that take place on your MT Standard
Trust using your Security Key and password.
d) You are responsible for maintaining adequate security and control of any and all
Security Keys, passwords, hints, personal identification numbers (PINs), or any
other codes that you use to access the Services.
e) You are required to report any unauthorized access to your MT Standard Trust,
any unauthorized activity on your MT Standard Trust or any unauthorized use of
VBranch services from your Account should you discover or suspect such
activities to the Trustee at support at https://VBranch.io.
f) You are responsible for keeping your email address and other contact
information up to date in your MT Standard Trust in order to receive any notices
or alerts that we may send you. We assume no responsibility for any loss that
you may sustain due to compromise of your email credentials, loss of a personal
device or failure to follow or act on any notices or alerts that we may send to you.
g) the Trustee representatives will never ask you for your password, so any email,
phone call or other communication requesting your password should be treated
as unauthorized and suspicious and forwarded to us for further investigation.
h) If you do share your VBranch Security Key credentials with a third party for any
reason, including because the third party has promised to provide you additional
services such as account aggregation or information services, the third party will
have access to your Account and your personal information, and you may be
responsible for actions taken using your password and Security Key credentials.
7) TRANSACTIONS EXECUTION
a) the Trustee reserves the right to establish and change transaction limits, in our
sole discretion.
b) All transactions from your MT Standard Trust will be affected by Transfer
Instructions authorized with the Security Key and password given to you when
you register, or by such other method as we may prescribe from time to time.
c) You may not effectuate any Exchange Transactions from your MT Standard
Trust in the event that you do not have sufficient funds in your MT Standard
Trust to meet the value of the Exchange Transaction and Charges applicable
thereto.
d) We will verify and confirm all Transactions effected from your MT Standard Trust
to you by email or other designated mode of communication. Our records will
be taken as correct unless the contrary is proved.
e) you acknowledge that the execution time for all transactions will be subject to
the operating rules of international payment systems
f) We may, at any time, refuse a transaction or attempted transaction submitted
by you. The reasons for the refusal and any potential actions you can take to reinitiate the refused transaction will be communicated to you. We may refuse to
execute a transaction, for example, in any of the following cases:
i) The instructions contain factual errors or incomplete details; or you do not
have the corresponding sufficient amounts in the specified FIAT Currency or
in a virtual currency, available for you to transact with on your MT Standard
Trust;
ii) You have breached any of your obligations towards us under these Terms or
any other agreement entered into between you and VBranch;
iii) The risk limitations or spending limits established for your account may have
been reached;
iv) We are legally or contractually obliged to freeze your Account or block
transactions;
v) We have security concerns with respect to your account or an attempted
transaction or a counterparty involved, e.g. because of a suspected security
breach, potential technical failure, suspected fraudulent or criminal
behaviour.
g) If your attempted transaction is inconsistent with your previous account
behaviour or stated purpose or above previously established limits, we may
request additional information or clarifications from you and must receive such
information before processing new transactions initiated by you,
h) In case of blockchain events such as hard forks, splits, airdrops or any other
blockchain changes or modifications outside of our control, the Trustee will
make reasonable efforts to keep you informed about such events, but does not
assume any liability towards you in the event that you or a third party incur
losses or damages as a result.
i) Our ability to manage online fraud, protect Clients from possible cases of
unauthorized transactions, research and potentially rectify claims related to
potentially unauthorized transactions, significantly depend on our ability to rely
on technical and structural elements of the financial system we operate in and
on strong authentication solutions available in various regions.
j) Any claim with respect to the unauthorized transaction must be communicated
by you to us immediately, as soon as you notice any irregularity with your
account history, and not later than 30 days from the transactional day.
i) You will not be liable for any financial consequences resulting from
fraudulent or unauthorized use of your MT Standard Trust occurring after
you have duly notified us about suspected fraud or misuse, except where you
have acted fraudulently.
k) If your transaction falls within the scope of the EU 2nd Payments Services
Directive, you are liable for any loss resulting from unauthorized transactions
subject to the terms and conditions as defined by the Articles 73 and 74 of this
Directive.
l) Please note that you will bear all losses arising from or related to any
unauthorized transactions if you acted fraudulently, made false representations
to us with respect to your identity or the nature of your activities or violated any
other parts of these Terms.
m) As required by applicable regulations, the Trustee will notify you in the event of
suspected or actual fraud or security threats via your registered e-mail, phone
number or other communication methods, as applicable.
8) Sending Limits.
We may, at our discretion, impose limits on the amount of payments you can send
through the VBranch Trust. You can view your sending limit, if any, by logging into
your account. If you have a Verified Account, we may increase your sending limits.
9) Default Payment Methods. When you make a payment, if you have not selected a
Preferred Payment Method, VBranch Trust will fund your transaction in this order
(subject to availability based on your Payment Methods and in Hong Kong SAR
China):
a) Balance
b) Instant Transfer from your bank account
c) Debit card
d) Credit card
i) Note: If you do not want to use your balance, you must withdraw it before
making a payment.
10) Credit Card Payment Methods. By adding a debit card or credit card as a Payment
Method, you are providing VBranch Trust with continuous authority to
automatically charge that card to obtain the relevant funds when the card is used
as a Payment Method pursuant to this Agreement. You can stop the continuous
authority in respect of any card by removing that card as a Payment Method in your
Account Profile.
a) Preferred Payment Method. You may select a Preferred Payment Method each
time you make a payment, except for a Preapproved Payment or a No Log-In
Payment.
b) For a Preapproved Payment and, in most instances, a No Log-In Payment, you
can select a Preferred Payment Method when you provide your initial
authorization for this payment and through the My Preapproved Payments
section of your Account Profile.
c) If you select a Preferred Payment Method but have an available balance in your
Account, your balance will be used to fund your payment.
d) 2.5 Refused and Refunded Payments. When you send a payment online using
VBranch Trust, and the transaction is ultimately refunded, the money will be
refunded to the original payment method you used for the transaction if you
used a debit card, credit card or VBranch Trust balance. If you used a bank
account as the payment method for the transaction, we would refund the money
to your bank account, or to your VBranch Cash balance if we cannot refund it to
your bank account.
e) When you buy something from a Merchant using VBranch that required a
currency conversion, and a refund is issued by the Merchant using VBranch
Trust:
f) Within 1 day of the date of the original payment, the transaction exchange rate
used at the time of the original payment will apply.
g) Beyond 1 day of the date of the original payment, the transaction exchange rate
(including the applicable currency conversion fee as set out in section 3 of
Exhibit A) on the date of the refund will apply. The transaction exchange rate
may be applied immediately and without notice to you. This means that you may
not receive the full amount of your original payment due to the fees above and
fluctuations in currency conversion rates.
h) Merchant Processing Delay. When you send a payment to certain Merchants,
you are providing an Authorization to the Merchant to process your payment
and complete the transaction. The payment will be held as pending until the
Merchant processes your payment. Some Merchants may delay processing your
payment. In such an instance, your Authorization will remain valid for up to 30
Days. If your payment requires a currency conversion, the exchange rate will be
determined at the time the Merchant processes your payment and completes
the transaction.
i) 2.7 Preapproved Payments. A Preapproved Payment is a payment in which you
Authorize a Merchant to directly charge your Account on a one-time, regular, or
sporadic basis. Preapproved Payments are sometimes called "subscriptions,"
"recurring payments,” “preauthorized transfers,” or "automatic payments."
Within two (2) Business Days of any Preapproved Payment made from your
Account, you will receive a confirmation of this transaction by email.
j) Notice for Certain Preapproved Payments. If a Preapproved Payment will vary
in amount and is made using an Instant Transfer, debit card Payment Method
or your VBranch cash account balance,
i) you have the right to advance notice of the amount and date of the transfer
from the Merchant at least 10 days before the transfer is made.
ii) If the Merchant provides the option, you may choose to receive this advance
notice only when the amount of your Preapproved Payment will fall outside
a range established between you and the Merchant.
iii) This notice is designed to protect you from having insufficient funds in your
cash account to cover the Preapproved Payment.
k) Stopping a Preapproved Payment. You may stop a Preapproved Payment at any
time up to 3 Business Days prior to the date the next payment is scheduled to
be made by notifying the Trustee.
i) You may stop a Preapproved Payment by calling the Trustee (852) 3875 3026
in Hong Kong SAR China. Once you contact the Trustee to stop a
Preapproved Payment, all future payments under your agreement with the
Merchant will be stopped.
ii) If you stop a Preapproved Payment, you may still be liable to the Merchant
for the payment or for other penalties under the terms of your agreement
with the Merchant, and you may be required to pay the Merchant through
alternative means.
iii) We will be liable for your losses or damages directly caused by our failure to
stop any Preapproved Payment if you have followed the instructions in this
section to notify us.
11) Eligibility for Use.
a) The ability to receive payments varies by country. As a resident of Hong Kong
SAR China, you have the ability to send and receive payments. If you open a
Business Account, the Trustee may allow anybody (with or without a MT
Standard Trust) to initiate a payment to your Account. By integrating into your
online checkout/platform any functionality intended to enable a payer without
an Account to send a payment to your Account, you agree to all further terms of
use of that functionality which VBranch Trust will make available to you on any
page on the VBranch Trust website (including any page for developers and our
Legal Agreements page or online platform.
b) Liability for Invalidated Payments. When you receive a payment, you are liable
to VBranch Trust for the full amount of the payment sent to you plus any Fees if
the payment is later invalidated for any reason. This means that, in addition to
any other liability, you will be responsible for the amount of the payment sent by
the sender, plus the applicable Fees listed in Exhibit A (Fees) of this Agreement
if you lose a Claim or a Chargeback, or if there is a Reversal of the payment.
i) You agree to allow the Trustee to recover any amounts due to VBranch Trust
by debiting your balance. If there are insufficient funds in your balance to
cover your liability, you must reimburse VBranch Trust through other means.
If a sender of a payment files a Chargeback, the card issuer, not the Trustee,
will determine who wins the Chargeback.
c) No Surcharges. If you are receiving payment for goods or services rendered;
i) You agree that you will not impose a surcharge or any other fee for accepting
VBranch Trust as a payment method without our express written consent;
Or
ii) You may charge a handling fee in connection with the sale of goods or
services, as long as the handling fee is not higher than the handling fee you
charge for Non-VBranch Trust transactions.
d) If you receive Preapproved Payments, you must receive your buyer’s
Authorization to the payment amount, frequency and duration prior to
submitting the payment.
12) Cash Account Balances. If you hold a balance, the Trustee will hold your funds in
your Cash Account. The trustees will hold these funds in pooled accounts separate
from its corporate funds, and it will not use your funds for its operating expenses or
for any other corporate purposes. the Trustee will not voluntarily make your funds
available to its creditors in the event of bankruptcy. You acknowledge you acquire
no rights or title, nor shall you be entitled to receive interest or other earnings on
the amounts in your balance that the Trustee holds on your behalf.
a) Setoff of Past Due Amounts. If you have a past due amount owed to VBranch,
an Affiliate, the Trustee may debit your Account to pay any amounts that are
more than 180 days past due.
b) Negative Balances and Multiple Currencies. If your Account has a negative
balance, the Trustee may set-off the negative balance with any funds that you
subsequently add or receive into your Account. If you have multiple currency
balances in your Account and one of the currency balances becomes negative
for any reason, the Trustee may set-off the negative balance by using funds you
maintain in a different currency balance. If you open more than one Account, the
Trustee may set off the negative balance in one Account by using any balance
that you maintain in your other Account(s). In the event that a negative balance
is offset by the Trustee pursuant to this paragraph, it may be bundled with
another debit coming out of your Account.
c) Withdrawing FIAT Currency.
d) How to Withdraw FIAT Currency. You may withdraw funds from your Account by
having the Trustee transfer them to an external account. The currencies in which
you may withdraw your funds to your bank account may be limited. Unless
otherwise specified, when withdrawing your funds to your account, funds may only
be withdrawn in your national currency unless you have multi-currency or other
foreign currency accounts. If you are holding a balance in a foreign currency, you
may only withdraw that balance (or part thereof) after it has been converted to (a)
Hong Kong Dollars if you are withdrawing your funds to your Hong Kong bank
account or (b) U.S. Dollar if you are withdrawing your funds to your linked U.S. bank
account.
e) Withdrawal Limits. Depending on the degree to which you have Verified your
Account, we may limit your ability to withdraw funds until you comply with our
requests for information. In addition, we may delay withdrawals of large sums of
money while we perform a risk review.
f) Withdrawal Fees. When withdrawing your balance, you will be charged the
Withdrawing your Balance Fee as set out on the MT Standard Trust Fee Schedule
from time to time, depending on the method of withdrawal. In addition, if you
withdraw your balance in a currency other than the currency in which the balance
on your Account is denominated, you may additionally be charged Currency
Conversion Fees.
13) Closing Your Account.
a) How to Close Your Account. You may close your Account at any time by following
the instructions in your Account Profile. Upon Account closure, we will cancel any
pending transactions, and you will forfeit any balances associated with Redemption
Codes, unless otherwise legally prohibited. You must withdraw your balance prior
to closing your Account.
b) Limitations on Closing Your Account. You may not evade an investigation by closing
your Account. If you close your Account while we are conducting a review, we may
hold your funds to protect VBranch, Affiliates or a third party against the risk of
Reversals, Chargebacks, Claims, fees, fines, penalties and other liability. You will
remain liable for all obligations related to your Account even after the Account is
closed.
14) Taxes
a) It is your sole responsibility to determine whether, and to what extent, any taxes
apply to any transactions associated with your receipt or transfer of
Cryptocurrency , and/or to the Transactions you conduct through the Services,
and to withhold, collect, report, and remit the correct amounts of taxes to the
appropriate tax authorities.
b) Your transaction history is available through your MT Standard Trust. We are
not obliged to determine whether taxes or duties apply and are not responsible
for calculating, collecting, reporting, or remitting any taxes or duties to any
authority arising from any transaction.
15) Privacy
a) Protecting your privacy is very important to the Trustee. Please review our
Privacy Policy, which is incorporated by reference into this Agreement, in order
to better understand our commitment to maintaining your privacy, as well as our
use and disclosure of your information.
b) If you receive information about another Client through the Services, you must
keep the information confidential and only use it in connection with the Services.
You may not disclose or distribute a Client's information to a third party or use
the information except as reasonably necessary to effectuate a transaction and
other functions reasonably incidental thereto such as support, reconciliation
and MT Standard Trusting unless you receive the Client's express consent to do
so. You may not send unsolicited emails to a Client through the Services.
c) By using the Services, you agree that the Trustee may provide you with any
notices or other communications about your MT Standard Trust and the
Services electronically:
i) via email (in each case to the address that you provide), SMS message, or
telephone call (in each case to the phone number that you provide), or
ii) by posting to the Site. For notices made by email, the date of receipt will be
deemed the date on which such notice is transmitted. If you do not wish to
receive notices or other communications electronically, we will be unable to
support your MT Standard Trust, and your MT Standard Trust will be
cancelled.
d) You accept that we may disclose or receive personal information or documents
about you to and/or from the following:
e) Local and international law enforcement or any competent regulatory or
governmental agencies to assist in the prevention, detection, or prosecution of
criminal activities or fraud;
f) Our service providers, dealers, agents, or any other company that may be our
subsidiary, parent company, or partner, for reasonable commercial purposes
connected to your use of the Services, such as marketing and research-related
purposes;
g) Lawyers or auditors or to the applicable court in connection with any legal or
audit proceedings (notwithstanding that any such proceedings may be of a
public nature); and
i) Others to facilitate our ability to carry out any activity in connection with a
legal, governmental, or regulatory requirement.
h) You must comply with any instructions that we may give you from time to time
about the Services.
i) Your calls, emails, or SMS’s may be monitored or recorded for use in business
practices such as quality control, training, ensuring effective systems operation,
prevention of unauthorized use of our telecommunications system, and
detection and prevention of crime.
j) If to the extent permitted by the Trustee from time to time, you grant express
permission to a third party to access or connect to your MT Standard Trust,
either through the third party's product or service or through the Site, you
acknowledge that;
i) granting permission to a third party to take specific actions on your behalf
does not relieve you of any of your responsibilities under this Agreement.
ii) You are fully responsible for all acts or omissions of any third party using
your MT Standard Trust credentials.
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iii) Further, you acknowledge and agree that you will not hold the Trustee
responsible for, and will indemnify the Trustee from, any liability arising out
of or related to any act or omission of any third party using your MT Standard
Trust credentials.
16) USE OF THE APP & SITE
a) We grant you a limited, nonexclusive, non-transferable license, subject to the
terms of this Agreement, to access and use the VBranch App and Website,
and the content, materials, information, and functionality available in
connection therewith (collectively, the "Content") solely for informational,
transactional, or other approved purposes as permitted by the Trustee from
time to time. Any other use of the Site or Content is expressly prohibited. All
other rights in the Site or Content are reserved by us and our licensors. We
reserve all rights in the Site and Content, and you agree that this Agreement
does not grant you any rights in or licenses to the Site or the Content, except
for this express, limited license.
b) In an effort to continue to provide you with as complete and accurate
information as possible, information may be changed or updated from time to
time without notice, including without limitation information regarding our
policies, products, and services. Accordingly, you should verify all information
before relying on it, and all decisions based on information contained on the
Site are your sole responsibility, and we shall have no liability for such decisions.
c) From time to time, the App and Site may contain references or links to thirdparty materials (including without limitation websites) not controlled by us. We
provide such information and links as a convenience to you. Such links should
not be considered endorsements of these sites or any content, products or
information offered on such sites, and such reference does not imply our
recommendation, approval, affiliation, or sponsorship of that respective
property, product, service, or process. You acknowledge and agree that we are
not responsible for any aspect of the information or content contained in any
third-party materials or on any third-party sites accessible or linked to the App
or Site, including without limitation content, property, goods, or services
available on the linked sites.
d) We shall not bear any liability, whatsoever, for any damage or interruptions
caused by Malware. We advise the regular use of a reputable and readily
available virus screening and prevention software. You should also be aware
that SMS and email services are vulnerable to spoofing and phishing attacks
and should use care in reviewing messages purporting to originate from the
Trustee. Always log into your MT Standard Trust through the Site to review any
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transactions or required actions if you have any uncertainty regarding the
authenticity of any communication or notice.
17) SUSPENSION AND DISCONNECTION OF SERVICES/CLOSURE OF MT STANDARD
TRUST
a) We may suspend (bar), restrict, or terminate the provision of the Services (in
whole or in part) and/or close your MT Standard Trust or block any MT
Standard Trust or Transaction without informing you and without any liability
whatsoever (although we will, where possible, try to inform you that such
action is or may be taken), in addition to all remedies available at law and in
equity, under the following circumstances:
b) As required by a valid subpoena or court order or we are, in our reasonable
opinion required to do so by applicable law, regulation or any court or other
authority to which we are subject in any jurisdiction;
c) If we are aware or have reason to believe that your MT Standard Trust, the
Services, or any MT Standard Trust is/are or have previously been used in an
unauthorized, unlawful, improper, or fraudulent manner or for criminal
activities including but not limited to activities involving money laundering,
terrorist financing, fraud, or any other financial crimes.
d) If you take any action that the Trustee deems as circumventing the Trustee's
controls, or we reasonably suspect that you are acting in breach of this
Agreement;
e) If you fail to comply with any of the conditions relating to the Services, including
this Agreement;
f) If you do anything (or allow anything to be done) which we think may damage
or affect the operation or security of the Services; or
g) For reasons outside of our control.
h) In the event that a technical problem causes system outage or MT Standard
Trust errors, the Trustee may temporarily suspend access to your MT Standard
Trust until the problem is resolved.
i) We will also close your MT Standard Trust upon receipt of your request to close
your MT Standard Trust.
j) Upon closure of your MT Standard Trust, we will use reasonable efforts to
transfer any Cryptocurrency balance in your MT Standard Trust to you at your
designated Cryptocurrency wallet or account.
k) You may not use the VBranch Services to conduct, pay for or facilitate activities
that:
l) Violate any law, statute, rule, regulation or a decision of the competent
authority.
m) Relate to transactions involving illegal trade or business or trade or business
that require special permissions or a license without having such permission
or license.
n) If we determine that you are incurring an excessive number of chargebacks,
disputes, complaints or other irregularities, we may establish controls or
conditions governing your Account, including without limitation, by:
o) establishing new transactional or processing fees;
p) creating a Reserve in an amount reasonably determined by us to cover
anticipated reversals, losses and related fees;
q) limiting sending or receiving privileges; or
18) TERMINATING OR SUSPENDING THE SERVICE.
a) Without limiting the foregoing, we may suspend the Service and block access
to your Account (including without limitation the Funds in your Account) if:
b) you have violated the terms of this Agreement,
c) we determine that you pose an unacceptable credit or fraud risk or other
liability risks to us,
d) you provide or have provided false, incomplete, inaccurate, or misleading
information (including without limitation any registration information) or
otherwise engage in fraudulent or illegal conduct,
e) we have security concerns regarding your Account, including your credentials,
or
f) we suspect unauthorized or fraudulent use of your Account or any payment
information in your account.
g) In such cases, we will inform you of the suspension of your Account and the
reasons for it, where possible, before the suspension and at the latest
immediately thereafter, unless we determine giving such information would
compromise security concerns or is prohibited by applicable law. We will
reactivate your Account or credentials, or replace it or them, as applicable,
once we have resolved the reasons for the suspension. You must notify us
through the Contact page if you wish to request us to reactivate your account.
h) Where your Account has been suspended or terminated for any reason, we
reserve the right at our sole discretion to again, require you to provide all the
information described in Section 4.1 (Application for a MT Standard Trust)
before initiating or completing any Transactions on your Account.
i) We may close your Account at our convenience by providing you with two
months’ prior notice.
19) WHEN YOUR ACCOUNT IS CLOSED:
a) We may cancel any pending Transactions;
b) We may suspend, limit or terminate your access to or use of our Services,
websites, software, systems (including any networks and servers used to
provide any of the Services) operated by us or on our behalf or some or all of
the Services;
c) You will remain liable for all outstanding obligations under this Agreement
related to your Account prior to closure;
d) We may keep your Account information in our database for the purpose of
fulfilling our legal obligations and other permitted reasons; and
e) We may retain your balance of Funds after closure to the extent, and for the
time we reasonably require protecting the Trustee and/or any third party
against the risk of Reversals, Chargebacks, Claims, fees, fines, penalties and
other liabilities of whatever nature. After this time, you will be able to withdraw
any undisputed funds that we are holding. Please contact the Trustee
Customer Service if you have any questions about Funds held in your Account
on closure.
f) You acknowledge that our decision to take certain actions, including limiting
access to, suspending, or closing your Account, may be based on confidential
criteria that are essential for the purposes of our risk management and security
protocols. You agree that we are under no obligation to disclose the details of
such risk management and security procedures to you.
20) YOUR RESPONSIBILITIES
a) You agree to comply with and not use the Services in violation of any applicable
laws or regulations.
b) You agree not to:
i) Copy, transmit, distribute, sell, resell, license, decompile, reverse engineer,
disassemble, modify, publish, participate in the transfer or sale of, create
derivative works from, perform, display, incorporate into another website, or
in any other way exploit any of the Content or any other part of the Site or
any derivative works thereof, in whole or in part for commercial or noncommercial purposes, except as expressly set forth herein
ii) Frame, link, or display the Site or Content (or any portion thereof) to or as
part of any other web site or any other work of authorship without our prior
written permission.
iii) Use the Services or any device, software or routine in any manner that could
disable, overburden, damage, or impair or interfere with the Services or any
other party's use of the Services, including their ability to engage in real-time
activities through the Services;
iv) Use any robot, spider, or any other automatic device, process or means to
access the Services for any purpose, including monitoring or copying any of
the material on the Site;
v) Introduce any Malware into the Site or VBranch System;
vi) Attempt to gain unauthorized access to, interfere with, damage, or disrupt
any parts of the Site, the server on which the Site is stored, or any server,
computer, or database connected to the VBranch System;
vii) Violate or assist any party in violating any law, statute, ordinance, regulation,
or rule of any self-regulatory or similar organization of which you are or are
required to be a Client (for example, those laws, rules, or regulations
governing financial services, controlled substances, unlawful gambling, or
consumer protections);
viii) Infringe upon the Trustee or any third party's copyright, patent, trademark,
or intellectual property rights;
ix) Act as a payment intermediary or aggregator or otherwise resell any of the
Services;
c) We reserve the right at all times to monitor, review, retain and/or disclose any
information as necessary to satisfy any applicable law, regulation, legal process,
or governmental request.
21) LIABILITY AND EXCLUSIONS
a) Your Use of the App, Website and Services, and any services or items obtained
through them is at your own risk. the App, Website and Services, and any
services or items obtained through them are provided on an as-is basis and as
available basis without any warranties of any kind, either express or implied.
Neither the Trustee or any person associated with the Trustee makes any
warranty or representation with respect to the APP, site or services. Without
29 08252020
limiting the generality of the foregoing, Neither the Trustee or any person
associated with the Trustee the App represents or warrants App, site and
Services, and any services or items obtained through them will be accurate,
reliable, error-free, or uninterrupted, or that defects will be corrected, that App
site Services or server that makes them available are free of viruses or other
components or that the App, Website and Services, and any services or items
obtained through them will otherwise meet your needs or expectations.
b) The Trust hereby disclaims all warranties of any kind whatsoever, whether
express or implied, statutory or otherwise, including but not limited to any
warranties of merchantability, non-infringement, and fitness for any particular
purpose. The foregoing has no force nor effect on any warranties which cannot
be excluded or limited under applicable law.
c) We will not be liable for any loss or damage caused by a distributed denial-ofservice attack, viruses or other technologically harmful material that may infect
your computer equipment, programs or data, or other proprietary material due
to your uses of the app, site or services or any goods or services obtained
through them or for your downloading any material posted to them or any site
or service linked or connected to them.
d) In no event will Vbranch, the Trustee or their licensors, service providers,
Employees, Agents, Officers or directors be liable for damages of any kind, under
any legal theory arising out of , or in connection with your use, or inability to use,
of the app, site or websites linked or connected to it, services, any content on
the site or other websites, including but not limited to personal injury , pain and
suffering, loss of profits, loss of business or anticipated savings , loss of use, loss
of goodwill, loss of data whether caused by tort ( including negligence) breach
of contract or otherwise even if foreseeable. The foregoing does not affect any
liability which cannot be excluded or limited under applicable law.
e) You agree to defend, indemnify, and hold harmless the Trustee, its affiliates,
licensors, service providers, and its and their respective officers, directors,
employees, contractors, agents, licensors, suppliers, successors, and assigns
from and against any claims, liabilities, damages, judgments, awards, losses,
costs, expenses, or fees (including reasonable attorneys' fees) arising out of or
relating to any Transaction, your violation of this Agreement, or your use of the
Site, Content, or Services.
22)MISCELLANEOUS
a) This Agreement (as from time to time may be amended) forms a legally binding
agreement that is binding on you and your personal successors and assigns.
b) You may not assign or transfer this Agreement to any other person by merger,
operation of law, or otherwise. We may assign this Agreement and our
obligations hereunder. Subject to the foregoing, this Agreement will bind and
inure to the benefit of you and us and our respective agents, heirs,
representatives, successors, and assigns.
c) No failure or delay by either you or us in exercising any right or remedy
hereunder shall operate as a waiver thereof, nor shall any single or partial
exercise of any right or remedy prevent any further or other exercise thereof or
the exercise of any other right or remedy.
d) The rights and remedies herein provided are cumulative and not exclusive of any
rights or remedies provided by law.
e) If any provision of this Agreement shall be found by any duly appointed
arbitrator, court, or administrative body of competent jurisdiction to be invalid or
unenforceable, the invalidity or unenforceability of such provision shall not affect
the other provisions herein, and all provisions not affected by such invalidity or
unenforceability shall remain in full force and effect.
f) You hereby represent, warrant, and certify to us that any Cryptocurrency or FIAT
Currency used by you in connection with the Services are either owned by you
or that you are validly authorized to carry out transactions using such
Cryptocurrency or FIAT Currency.
g) You must pay all our expenses in recovering any amounts you owe us, including
legal fees, collection fees, and tracing fees.
h) The Site, Services, and their entire contents, features, and functionality
(including but not limited to all information, software, text, displays, images,
video, and audio, and the design, selection, and arrangement thereof), and all
copyright, trademarks and other intellectual property rights therein thereto, are
owned by the Trustee, its licensors, or other providers of such material. You
agree that you acquire no rights therein or thereto. Although certain contents of
the Site are freely downloadable for personal, non-commercial transitory
viewing, they may not be reproduced in whole or in part or otherwise made
available without the prior written consent of the Trustee.
i) VBranch, the VBranch logo, and all related names, logos, product and service
names, designs, and slogans are trademarks of the Trustee or its affiliates or
licensors. You must not use such marks without the prior written permission of
VBranch. All other names, logos, product and service names, designs, and
slogans on the Site are the trademarks of their respective owners.
j) This Agreement and the Privacy Policy constitute the sole and entire agreement
between you and the Trustee with respect to the Site and the Services and
supersede all prior and contemporaneous understandings, agreements,
representations and warranties, both written and oral, with respect to the Site
and Services.
k) This Agreement is governed by the laws of Hong Kong.
l) Any cause or claim or claim which may arise out of or in relation to the present
agreement must be commenced within one year after such cause of action
occurs; otherwise, such cause of action or claim is permanently barred.
m) Nothing herein contained shall preclude any of the parties to this Agreement
from approaching any court of competent jurisdiction for an interdict or for relief
on an urgent basis.
23)DEFINITIONS The following definitions relate to this Agreement:
a) “Account” means the Trust Account you create by providing certain information
and registering with VBranch Trust under this Agreement, which will include at
a minimum VBranch Cash Account and a VBranch wallet account.
b) “AUA” Means Assets under Administration under the Trust.
c) “AUA Fee” is a fee, initially set at 1.5% or 150 basis points per annum, charged
Quarterly in advance, at the exclusive discretion of the Trustee payable in Hong
Kong Dollars or United States Dollars at the discretion of the Trustee and as set
out in the “Fee Schedule” from time to time.
d) “Cryptocurrency” means the electronic currency-denominated Cryptocurrency
that you transfer to VBranch for exchange into FIAT Currency through the
Service.
e) “VBranch System” means the proprietary service which is marketed, managed
and operated by VBranch.
f) “Charges” means the fees and taxes deducted from your MT Standard Trust
when you complete an Exchange Transaction or a Purchase Transaction.
Charges are posted on the Site and may be changed from time to time without
notice; provided, however, that you will be advised of the Charges applicable to
each Transaction. Your approval of Transfer Instructions indicates your
acknowledgement of and consent to the Charges applicable to such
Transaction.
g) “Customer” means you and every other person in whose name a MT Standard
Trust for the Service is registered.
h) “Designated Payee” means the person who is designated by Client to be the
recipient of FIAT Currency through the Service.
i) “Exchange Bank” means a bank or other institution that credits FIAT Currency
to the Payee Account designated by you through the Service.
j) “Exchange Period” means the time for which the Exchange Rate is guaranteed
to remain the same.
k) “Exchange Rate” means the rate at which Cryptocurrency is exchanged for FIAT
Currency and FIAT Currency is exchanged for Cryptocurrency, valid for an
Exchange Period. We will agree with you on the Exchange Rate for each
Transaction. Your approval of Transfer Instructions indicates your
acknowledgement of and consent to the Exchange Rate applicable to such
Transaction.
l) “Exchange Transaction” means the transfer of a specified quantity of
Cryptocurrency from Customer to VBranch and the corresponding transfer to a
designated Payee Account of an amount of FIAT Currency calculated by
multiplying the quantity of Cryptocurrency less the Charges by the applicable
Exchange Rate, under the terms and conditions hereof.
m) Fee Schedule is the Schedule of fees to be published on the Trustee's Website
or the Trustee website and updated at the unilateral discretion of the Trustee,
from time to time.
n) “Malware” means any computer viruses, spyware, scareware, Trojan horses,
worms or other malware that may affect your computer or other equipment, or
any phishing, spoofing or other attack viruses, trojan horses, worms, logic
bombs or other material which is malicious or technologically harmful.
o) “FIAT Currency” means the FIAT Currency declared by the government of the
designated nation to be legal tender.
p) “Payee Account” means the account designated by Customer for the receipt of
FIAT Currency in an Exchange Transaction.
q) “Payor Account” means the account designated by Customer for the receipt of
Cryptocurrency in a Purchase Transaction.
r) “Purchase Transaction” means the transfer of a specified quantity of FIAT
Currency from Customer to VBranch and the corresponding transfer to a
designated Payee Account of an amount of Cryptocurrency calculated by
multiplying the quantity of FIAT Currency less the Charges by the applicable
Exchange Rate, under the terms and conditions hereof.
s) “Service” means the service provided by the Trustee for the exchange of
Cryptocurrency and FIAT Currency on the terms and conditions of this
Agreement
t) “Site” refers to the website(s) through which the Trustee conducts business,
including www.VBranch.co and such other URLs as the Trustee may designate
from time to time for use with the Service.
u) “Transaction” means an Exchange Transaction or a Purchase Transaction.
v) “Transfer Instructions” means instructions given by Customer through the
Service for the transfer of Cryptocurrency as provided herein.

MT STANDARD TRUST TRUST DEED

THIS TRUST Deed is made the 31st day of May 2019.

BETWEEN: -
(1) the party whose particulars are described in Part I of the Schedule 2 hereto as amended from time to time (hereinafter called the "Settlor" or "Client") of the one part; and

(2) the party whose particulars are described in Part II of the Schedule 2 hereto (hereinafter called "the Trustee") of the other part.

WHEREAS:-
(1) The Settlor wishes to make the Trust contained below for the benefit of the beneficiaries mentioned in The MT Standard Trust Application form (Schedule 2), by default the Settlor and has paid to the
Trustee the sum specified in Schedule 3 to be held on and with and subject to the following Trust's powers and provisions.

(2) Further assets may, in the future, be paid or transferred to the Trustee by any Client upon Registration of an applicant in Schedule 3 by the Trustee or any other person subject to the absolute discretion of the Trustee to be held on and with and subject to such trusts powers and provisions.

NOW THIS DEED WITNESSES as follows:-

1.1 In this Deed, the following expressions have where the context permits the following meanings:-

1.1.1 "the Trustees" means the Trustee or other Trustee or trustees for the time being of this Trust and "Trustees" means each and any of the Trustees.

1.1.2 "the Trust Fund" means all of the cash and assets (including but not limited to Cash, Crypto

Currencies, shares, real properties, and insurance policies) mentioned in Schedule 4 paid or settled
by the Settlor to the Trustee as recited above and all assets at any time added to it by way of further
settlement, accumulation of income, capital accretion or otherwise and all Property from time to time
representing the same.

1.1.3 "the Designated Beneficiaries" means (subject to the provisions of clause 3) the persons as
specified in Schedule 3, as amended from time to time, and "Designated Beneficiary" has a
corresponding meaning.

1.1.4 "Excluded Class" means the Trustee or other Trustee or trustees for the time being of this Trust and
any person declared as an excluded person under the provisions of this Deed and the persons
named in the Schedule 4.

1.1.5 "the Trust Period" means the period beginning at the date of this Trust Deed and ending on the first
to happen of the following events which period shall be the perpetuity period applicable to this Trust:-
(a) such date as the Trustee may in their absolute discretion determine by an instrument in writing
signed by them;

1.1.6 "Charity" means a trust or corporation association society or other institution established only for
charitable purposes according to the laws for the time being of Hong Kong Special Administrative
Region of People's Republic of China (hereinafter called "Hong Kong SAR") and "Charities" have a
corresponding meaning.

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1.2 References in this Trust to the income of the Trust Fund shall extend to any interest or other income
now accrued or accruing but not yet payable in respect of the sum of cash paid by the Settlor to the
Trustee as recited above.

1.3 Reference:-

1.3.1 to clauses and schedules are to clauses of and schedules of this Deed unless the context otherwise
requires; and

1.3.2 to statutory provisions shall be construed as references to those provisions as respectively replaced,
amended or re-enacted (whether before or after the date hereof provided that such replacement,
amendment or re-enactment imposes no greater liability or obligation on any of the parties than
subsists as at the date hereof) from time to time and shall include any provisions of which they are
re-enactments (whether with or without modification subject as aforesaid) and any subordinate
legislation made under such provisions.

1.4 Words importing the singular include the plural and vice versa; words importing a gender include
both genders and references to persons include bodies corporate or unincorporated.

1.5 The headings to the clauses and schedules are for convenience only and have no legal effect.

1.6 Each of the schedules shall affect as if set out in this Deed.

1.7 Any terms of this Deed which are or become prohibited or unenforceable for any reason in any
jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or
unenforceability and such prohibition or unenforceability shall not invalidate the remaining
provisions of this Deed or affect the validity or enforceability of the remaining provisions.

1.8 In the event that there is any inconsistency between the English version and the Chinese version of
this Deed, the English version shall prevail.

2. TRUSTS OF THE INCOME AND CAPITAL OF THE TRUST FUND

2.1 The Trustee shall during the Trust Period hold the Trust Fund and the income thereof upon Trust for
the benefit of all or any one or more of the Designated Beneficiaries and have the following powers
of dealing with the capital and income of the Trust Fund, which they may exercise from time to time
at the discretion of the Settlor or in the event of their demise the designated inheriting Beneficiary,
or in the event that there is no designated living beneficiary, the Executor of the Estate of the
Beneficiary:

2.2 The Trustee may pay or apply the whole or any part of the income to or in any manner as instructed
by the Beneficiary or, the Settlor, in the event that the Beneficiary is under the age of majority, infirm
or unable to be legally responsible for their affairs, or in the event that there is no designated living
beneficiary, the Executor of the Estate of the Beneficiary, for the benefit of all or any one or more of
the Designated Beneficiaries or;
(i) The Trustee may pay, transfer, apply or deal with the whole or any part of the capital to or in
any manner as instructed by the Beneficiary or, the Settlor, in the event that the Beneficiary
is under the age of majority, infirm or unable to be legally responsible for their affairs, or in the
event that there is no designated living beneficiary, the Executor of the Estate of the
Beneficiary, for the benefit of all or any one or more of the Designated Beneficiaries;
(ii) In the exercise of the power in (ii) above, the Trustee may (a) transfer the whole or any part
of the capital to another trust created either by the Trustee or by any other persons in any part
of the world provided the Trustee is satisfied that the transfer is for the benefit of all or any
one or more of the Designated Beneficiaries (whether or not it may also be for the benefit of
any other person); (b) lend the whole or any part of the capital to any of the Designated
Beneficiaries either free of interest or on such terms as to interest, repayment or otherwise as
they think fit; (c) permit any of the Designated Beneficiaries (either alone or concurrently or
successively) to occupy, use or enjoy personally any movable or immovable property which
(or the future proceeds of sale of which) may for the time being be comprised in the Trust
Fund upon any terms or conditions whatever which as instructed by the Beneficiary or, in the
event that the Beneficiary is under the age of majority, infirm or unable to be legally
responsible for their affairs, the Settlor, or in the event that there is no designated living
beneficiary, the Executor of the Estate of the Beneficiary, for the benefit of all or any one or
more of the Designated Beneficiaries.

2.3 The Trustee shall, during the Trust Period accumulate any part of the income which is not dealt with
under 2.1(i) above by investing it and adding the accumulations to the capital of the Trust Fund for
such period as the law may allow, as instructed by the Beneficiary or, the Settlor, in the event that
the Beneficiary is under the age of majority, infirm or unable to be legally responsible for their affairs,
or in the event that there is no designated living beneficiary, the Executor of the Estate of the
Beneficiary.

2.4 At the expiration of the Trust Period the Trustee shall transfer any undistributed capital and income
of the Trust Fund to all or any one or more of the Designated Beneficiaries (if any) then living in
such shares in such manner as the Trustee shall within one year after such expiration determine,
and in default of determination within that year then equally. If at such expiration no Designated
Beneficiaries are living, any undistributed capital and income shall be transferred to such charity or
charities, if more than one in such shares, as the Settlor shall before the end of the year aforesaid
have nominated in writing (and so that the Settlor may revoke any nomination in writing at any time
during his life or by his will, but not later than the end of the year aforesaid), and in default of and
subject to any such nomination to such charity or charities as the Trustee shall determine.

2.5 Nothing in this clause shall prejudice any lien or other right of recourse to the Trust Fund or its
income, which the Trustee may have in respect of fiscal liability administrative expenses or
otherwise.
3. ALTERATION OF CLASS OF BENEFICIARIES

3.1 Subject to clause 3.2 below

3.1.1 The Trustee shall, as instructed by the Beneficiary or, the Settlor, in the event that the Beneficiary
is under the age of majority, infirm or unable to be legally responsible for their affairs, or in the event
that there is no designated living beneficiary, the Executor of the Estate of the Beneficiary, by any
deed or deeds revocable or irrevocable executed during the Trust Period to declare that any
individual or individuals whether or not then born or ascertained or any Charity or Charities (other
than any individual then a Trustee and other than any individual or Charity previously excluded
under the power set out in clause 3.1.2 below) shall from such time and (subject to any future
exercise of the power contained in clause 3.1.2 below) either permanently or for such period or
periods as shall be specified in any such deed or deeds be included in the class of the Designated
Beneficiaries defined in clause 1.1.3 above.

3.1.2 The Trustee shall also as instructed by the Beneficiary or, the Settlor, in the event that the
Beneficiary is under the age of majority, infirm or unable to be legally responsible for their affairs, or
in the event that there is no designated living beneficiary, the Executor of the Estate of the
Beneficiary, by Deed or deeds revocable or irrevocable executed during the Trust Period to declare
that any individual or individuals whether or not born or ascertained or any Charity or Charities who
or which is or are a member or members (or eligible to be added as a member or members) of the
class of the Designated Beneficiaries immediately before the execution of such Deed or deeds shall
from such time and either permanently or for such period or periods as shall be specified in any
such deed or deeds cease to be a member or members (or eligible to become a member or
members) of such class.

3.1.3 The Trustees shall also as instructed by the Beneficiary or, the Settlor, in the event that the
Beneficiary is under the age of majority, infirm or unable to be legally responsible for their affairs, or
in the event that there is no designated living beneficiary, the Executor of the Estate of the
Beneficiary, at any time or times during the Trust Period by any deed with power of revocation
exercisable during the Trust Period or without power of revocation declare that any one or more of
the Designated Beneficiaries shall cease to be a beneficiary or beneficiaries and upon the execution
of any such deed this settlement shall be construed and take effect accordingly.
3.2 PROVIDED always that:-

3.2.1 no such deed made in exercise of the power conferred by clause 3.1 above shall affect the validity
or effect of;

3.2.1.1 any distribution previously made to or for the benefit of any beneficiary under or pursuant to any
power or discretion;

3.2.1.2 any transmissible interest (whether vested or contingent) previously conferred on any beneficiary
by clause 2.3 above or under or pursuant to any irrevocable exercise of the power of appointment
conferred by clause 2 above or

3.2.1.3 any future distribution to any beneficiary consequent on the absolute vesting in possession of any
such interest, as is mentioned in clause 3.2.1.2 above.

4. EXCLUDED CLASS
The Trustee may at any time and from time to time during the Trust Period, as instructed by the Beneficiary
or, the Settlor, in the event that the Beneficiary is under the age of majority, infirm or unable to be legally
responsible for their affairs, or in the event that there is no designated living beneficiary, the Executor of the
Estate of the Beneficiary, by Deed declare that any person whether or not included in the expression
"Beneficiaries" shall be a member of the Excluded Class from the date or for such period of time as shall be
specified in such Deed and the person so specified in such declaration shall be a member of the Excluded
Class for the purposes of this Deed.
Notwithstanding any other provision of this Deed, no power conferred by this Deed shall be exercisable, and
no provision shall operate so as to allow the Trust Fund or its income to be payable to or applicable for the
benefit of any member of the Excluded Class in any circumstances whatsoever.

5. NO OBLIGATION TO INFORM BENEFICIARIES OF THIS TRUST
The Trustee shall not be obliged to make known to any Beneficiary that this Trust exists or any matters in
relation thereto or that they are named as such or that they are now or at any time hereafter included in any
of such expressions. The Trustee shall not in any way be obliged to contact any Beneficiary until any of
them becomes absolutely and indefeasibly entitled to any part of the Trust Fund, and the Trustee shall then
provide the Beneficiary so entitled with information relating to his entitlement and such other information
pertaining to this Trust as may be reasonably required by him for the compliance of his reporting or tax
obligations arising under all applicable laws.
Subject to the above, no Beneficiary shall be entitled to demand or compel the Trustee to release or disclose
any information or document relating to the Trust or the exercising of the Trustee's powers and duties
hereunder. For the avoidance of doubt, it is hereby declared and confirmed that none of the Beneficiaries
has any interest right or claim of whatever nature in and to the Property comprised in the Trust Fund.

6. EXCLUSION OF APPORTIONMENT
Where under the trusts for the time being affecting the same there is a change in the person or persons
beneficially or prospectively beneficially entitled to the income of any part of the Trust Fund (whether due to
the birth or death of any person or for any other reason whatever) the provisions of the Apportionment
Ordinance (Cap 18) shall not apply, and no apportionment shall be made of income accruing or accrued or
of outgoings being expended on the occasion of such change in beneficial entitlement but rather the same
shall be treated as having accrued due or become a proper liability on the day of actual receipt or expenditure
(as the case may be).

7. ADMINISTRATIVE PROVISIONS
7.1 Subject to clause 7.2 below the Trustee shall during the Trust Period and during such further period
(if any) as the law may allow, as instructed by the Beneficiary or, the Settlor, in the event that the
Beneficiary is under the age of majority, infirm or unable to be legally responsible for their affairs, or
in the event that there is no designated living beneficiary, the Executor of the Estate of the
Beneficiary, have the additional powers set out in Schedule 1 hereto.

7.2 PROVIDED always that the Trustee may at any time or times during the Trust Period by Deed or
deeds extinguish (or restrict the future exercise of) all or any of the powers (but not any of the
restrictions applicable to them) conferred by clause 7.1 above.

8. PAYMENT OF TAXES
The Trustee may at their discretion payout of the capital or income of the Trust Fund any taxes of any kind
which become payable anywhere in the world in respect of any part of the Trust Fund or its income (whether
or not enforceable) either by the Trustee, or by the Settlor or any other person who has transferred assets
to this Trust, or by any Designated Beneficiary, notwithstanding that the payment of taxes may be prejudicial
to one or more of the Designated Beneficiaries.

9. TRUSTEE'S CHARGES AND REMUNERATION

9.1 The Trustee shall be entitled to be paid out of the Trust Fund for its own absolute use and benefit a
fee at a rate to be agreed between the Settlor and the Trustee from time to time or in default thereof
in accordance with its published terms and conditions for trust business in force from time to time.

9.2 The Trustee shall be entitled to retain any share of brokerage or any commission (or share of
commission) paid to it by any broker-agent or insurance office in connection with any acquisition of
or dealing with any investments or Property or the effecting of or payment of any premiums on any
policy of insurance subject or intended to become subject to this Trust.

10. PROTECTION OF TRUSTEE

10.1 In the professed execution of the trusts and powers of this Trust or of any assurance of immovable
Property upon Trust for sale such that the net proceeds of sale are to be held on this Trust, the
Trustee shall not be liable for any loss arising by reason of any improper investment made in good
faith or the retention of any improper investment or any failure to see to the insurance of or
preservation of any chattels or the making or revising of any inventory of them or for the negligence
or fraud of any agent employed by him (although the employment of such agent was not strictly
necessary or expedient) or by reason of any other matter or thing whatever except wilful and
individual fraud or wrongdoing on the part of the Trustee.

10.2 The Trustee shall not be bound or required to interfere in the management or conduct of the affairs
or business of any company in respect of which the Trustee shall hold or control the whole or a
majority or any part of the shares carrying the control of the company or other the voting rights of
the company and so long as there shall be no notice of any act of dishonesty or misappropriation of
money on the part of the directors having the management of such company the Trustee shall be at
liberty to leave the conduct of its business (including the payment or non-payment of dividends)
wholly to such directors.

10.3 Without prejudice to any right under the general law of the Trustee to refuse disclosure of any
document, it is declared the Trustee shall not be bound to disclose to any person any of the following
documents that is to say:

10.3.1 any document disclosing any deliberations of the Trustee as to the manner in which the Trustee
should exercise any power or any discretion conferred upon the Trustee by this Trust or disclosing
the reason for any particular exercise of any such power or any such discretion or the material upon
which such reasons shall or might have been based.

10.3.2 any other document relating to the exercise or proposed exercise of any power or any discretion
conferred on the Trustee by this Trust.

10.4 Without prejudice the generality of foregoing, the Trustee and its associates shall not incur any
liability in respect of any action taken or thing suffered by them in reliance upon any notice, resolution,
direction, consent, certificate, affidavit, statement, certificate of stock, plan or reorganization or other
paper or document believed to be genuine and to have been passed, sealed or signed by the proper
parties provided always that the Trustee and its associates acted in good faith in relying upon the
aforesaid documents and further that neither shall be liable for any failure to act if in good faith they
or either of them consider such aforesaid documents may not be valid.

10.5 The Trustee and its associates shall not incur any liability to the Settlor and/or Beneficiary under this
Trust for doing or (as the case may be) failing to do any act or thing which by reason of any provision
of any present or future law or regulation made pursuant thereto or of any decree, order or
judgement of any court, or by reason of any request, announcement or similar action (whether of
binding legal effect or not) which may be taken or made by any person or body acting with or
purporting to exercise the authority of any government (whether legally or otherwise) either they or
any of them shall be directed or requested to do or perform or to forbear from doing or performing.

10.6 The Trustee, the manager, appointed by the Trustee under this Trust and any associates of either
of them shall not incur any liability if, for any reason, it becomes impossible or impracticable to carry
out any of the provisions of this Trust.

10.7 The Trustee and its associates shall not incur any liability by reason of any error of law or any matter
or thing done or suffered or omitted to be done by it or them in good faith under this Trust save in
the case of willful neglect or fraud. The Trustee and its associates shall not be responsible for any
misconduct, mistake, oversight, error of judgement, forgetfulness or want of prudence on the part of
any banker, accountant, broker, lawyer, agent or other person or of the delegate appointed in
accordance with this Trust except regarding any matter in which the said delegate appointed in
accordance with this Trust is acting on behalf of the Trustee with its express authority, nor shall the
Trustee be liable for acting on advice or information purported to be conveyed from such persons in
the manner permitted under this Trust even if the same contained an error or was not authentic.

10.8 In the absence of willful neglect or fraud, the Trustee shall not be responsible for any loss, costs,
damages or inconvenience that may result from the exercise or non-exercise of any power or
discretion vested in it by this Trust. The Trustee and its associates shall not be liable for anything
done or suffered by the Trustee in good faith in accordance with or in pursuance of any request or
advice of the manager appointed in accordance with this Trust. The Trustee shall not be responsible
for verifying or checking any valuation of the Trust Fund.

10.9 Any indemnity expressly given to the Trustee or its associates in this Trust is in addition to and
without prejudice to any indemnity allowed by law, provided nevertheless that any provision of this
Trust shall be void in so far as it would have the effect of exempting the Trustee or its associates or
indemnifying them against any liability for breach of Trust or any liability which by virtue of any rule
of law would otherwise attach to them in respect of any willful neglect and fraud.

11. RETIREMENT OR REMOVAL OF TRUSTEE

11.1 Any trustee may retire at any time, provided he gives 30 days written notice to the Settlor if he is
living or after his death to the person who for the time being has the power to appoint new trustees.

11.2 In each case the retirement shall not take effect unless and until there are at least one trust
corporation or two individual trustees or two non-trust corporations or one individual and one nontrust corporation to act as continuing trustees.

12. APPOINTMENT OF NEW TRUSTEE

12.1 The power of appointing a new trustee or new trustees shall be vested in the Settlor during the
lifetime of the Settlor.

12.2 If the Trustee is not a trust corporation according to the relevant jurisdiction, there should be at least
two individuals or two non-trust corporations or one individual and one non-trust corporation acting
as trustees.

12.3 It is declared that the provisions of the Trustee Ordinance (Cap.29) Section 37 in their application
to this Trust shall be varied so that it shall not be a ground for the appointment of a new trustee that
an existing trustee has remained out of Hong Kong SAR for more than 12 months.

13. FORUM OF ADMINISTRATION AND PROPER LAW OF THIS TRUST

13.1 This Trust is established under the laws of Hong Kong Special Administrative Region of the People's
Republic of China, which shall be the initial forum for its administration.

13.2 The Trustee shall have the power to move the administration of this Trust at any time to any other
jurisdiction in the world.

13.3 Notwithstanding anything herein contained the Trustee may at any time or times and from time to
time by Deed declared that this Trust shall from the date of such declaration take effect in
accordance with the law of some other place and in any part of the world and that the forum for the
administration thereof shall thenceforth be the courts of that place and as from the date of such
declaration the law of the place named therein shall be the law applicable to this Trust and the courts
of that place shall be the forum for the administration thereof but subject to the power conferred by
this sub-clause and until further declaration is made hereunder.

13.4 So often as any declaration pursuant to 13.3 above shall be made the Trustee may at any time or
times thereafter by Deed make such consequential alterations or additions in the trust powers and
provisions of this Trust as the Trustee may consider necessary or desirable to ensure that so far as
may be possible the trusts, powers and provisions of this Trust shall (mutatis mutandis) be as valid
and effective as they are under the law of Hong Kong Special Administrative Region of People's
Republic of China.

14. AMENDMENT OF THIS TRUST
The Trustee may, as instructed by the Beneficiary or, the Settlor, in the event that the Beneficiary is under
the age of majority, infirm or unable to be legally responsible for their affairs, or in the event that there is no
designated living beneficiary, the Executor of the Estate of the Beneficiary, by Deed, make any alterations or
additions to the provisions of this Deed which they consider in their absolute discretion to be for the benefit
of all or any one or more of the Designated Beneficiaries.

15. REVOCABILITY OF THE TRUST

The Settlor expressly declares that this Trust hereby created is irrevocable.

16. Name of Trust
This Trust shall be known as MT Standard Trust in Favour of the Beneficiary as specified in Schedule 2
SCHEDULE 1
Administrative Powers

1 Application of money requiring investment
Power as regards any money for the time being subject to the provisions of this Deed and requiring
investment to invest or lay out the same in the purchase or otherwise in the acquisition of or at interest upon
the security of any cryptocurrency, cash, shares, stocks, funds, securities, policies of insurance, or other
investments or Property (movable or immovable) of whatever nature and wherever situated and whether or
not productive of income and whether involving liability or not or upon such personal credit with or without
security in all respects as the Trustee shall in its discretion think fit to the intent that the Trustee shall have
the same full and unrestricted powers of investing and transposing investments and dealing with trust money
and buying or selling Property in all respect as if they were absolutely entitled beneficially and so that:-

1.1 the acquisition with trust money of Property with a view to its enjoyment in kind by a Designated
Beneficiary or Designated Beneficiaries in accordance with the provisions of clause 2.1(iii)(c) above
shall for the purpose of this Trust be deemed to be an investment of trust money.

1.2 any immovable property which may be acquired for any of the purposes of this Trust (including its
enjoyment in kind) shall (whether or not expressed to be so assured) be vested in the Trustee upon
Trust for sale with power to postpone the sale.

1.3 without prejudice to the generality of paragraph 1, the Trustee shall not be under any obligation to
diversify the investments of the Trust Fund.

2 Retention of assets
Power to accept or acquire and retain any assets subject or to be subject to this Trust (including any uninvested money) in their actual state and condition for any period even although the whole or a substantial
part of the assets so subject may be producing no or little income or may consist of shares or securities of a
single company.

3 Transposition of investments
Power at any time or times to sell or convert or call in any investments or other Property for the time being
comprised in the Trust Fund or to transpose or convert the same into any additional investments or Property
the acquisition of which money subject to this Trust is by this Trust authorized.

4 Acquisition of land property
Power at any time or times to apply any money subject to this Trust in acquiring or otherwise developing or
using any land property or buildings or in erecting enlarging repairing decorating making alterations to or
improvements in or pulling down an rebuilding any buildings which shall or the proceeds of sale of which
would be subject to the same trusts.

5 Leases and mortgaging
Power to lease let licence mortgage and charge and to grant tenancies and licences and to accept
surrenders of lease tenancies and licences and to enter into any carry into effect any grants agreements or
arrangements whatever of or relating to and generally to manage and deal with any land or buildings which
shall for the time being be subject to this Trust or the proceeds of any sale of which would be for the time
being so subject in all respects as if the Trustee were an absolute beneficial owner of such land or buildings
and so that no mortgagee or chargee or intending mortgagee or chargee dealing with the Trustee in regard
to any such land or buildings shall be concerned to see for what purpose any money is raised or as to the
application of such money.

6 Borrowing
Power to borrow or raise money for the purposes of investment or for acquiring any property either without
security or on the security of the whole or part of the Trust Fund and any property so acquired.

7 Guarantees
Without prejudice to the generality of paragraph 5 of this Schedule 1 power to effect any mortgage or charge
under those paragraph as collateral security for or to guarantee money payable in respect of any loan to a
Designated Beneficiary or Designated Beneficiaries upon such terms in all respects as the Trustee shall in
its absolute discretion think fit PROVIDED that this power shall not be exercised except in conformity with
the beneficial trusts for the time being governing the Trust Fund (or the part of its affected by such mortgage
charge or guarantee) and the income from it.

8 Arbitration
Power to refer to arbitration or to the determination of any expert:

8.1 the amount of the money to be received or paid on any sale or purchase or exchange.

8.2 the amount of the rent or other payment to be reserved by any lease tenancy agreement or licence
in respect of the whole or any part of the term or currency of such lease and the covenants and
provisions to be contained in any such lease tenancy agreement or licence.

8.3 the terms for the surrender or other termination of any lease tenancy or licence and

8.4 all disputes between any tenant or licensee and the reversioner or licensor.

9 Appropriation
Power from time to time to set a value upon any investments or other Property forming part of the Trust Fund
as the Trustee shall think fit and to appropriate if it shall think fit any such investments or Property at such
value in or towards satisfaction of any share or interest under the trusts affecting the same.

10 Valuation
Power at any time or times to have any assets valued for any purpose in such manner as the Trustee shall
in its discretion think fit.

11 Promotion of companies
Power to promote, form or join in promoting or forming any company or corporation for the purpose of
acquiring or taking on lease or hire for any estate or interest all or any of the assets which (or the net
proceeds of any sale of which) are held on the trusts or this Trust or for any other purpose whatever
connected with any assets which (or the net proceeds of sale of which) are subject or are to become subject
to any of those trusts.

12 Subscription and purchase of shares etc.
Power to subscribe, purchase, sell or hold any or all kinds of shares debenture or other securities of any
company or corporation, whether a public or private company, including but not limited to unit trusts, mutual
funds and derivatives.

13 Sales etc. for paper consideration
Power to sell transfer let or hire out for any estate or interest any assets which (or the net proceeds of any
sale of which) are subject to this Trust in consideration of the issue or transfer to the Trustee or its nominees
of any stock shares debentures or other securities.

14 Rights attached to investments
Power to exercise or to refrain from exercising (either themselves or by proxy) the rights attached to any
investments subject to this Trust in any manner whatever and in particular (without prejudice to the generality
of the above) to wind up or dissolve or join in winding up or dissolving any company or corporation and to
alter or join in altering any of those rights or any rights attached to any other investments or Property.

15 Nominees
Power to put or leave any shares, stocks, securities. Insurance policies or other Property whatever (including
money) in the name or names of any nominee or nominees for the Trustee and to put or leave any movable
chattels for safekeeping in the possession or custody of any person or persons without being responsible
for any loss or damage and on such terms and subject to such conditions including remuneration of any
nominee or custodian (other than the Settlor) as the Trustee shall think fit and so that any such nominees or
custodian may be or include Trustee.

16 Insurance

16.1 Power to effect maintain and deal with any policy upon the life of any person (including the Settlor
himself) or of all or any assets subject to this Trust against any risk or risks which the Trustee may
consider proper to cover to the intent that the Trustee shall hold any such policy and the proceeds
of it and all money arising from it as an accretion to the capital of the Trust Fund PROVIDED:-

16.1.1 that the Trustee shall be under no obligation to insure any such assets to their full value or
at all.

16.1.2 that the Trustee may at its sole discretion pay all premiums and other costs relating to any
such policy out of income or the capital of any property held under this Trust.

16.2 All the powers of an absolute owner in respect of any policy or policies forming part of the Trust
Fund including the power to surrender convert or otherwise deal with any such policy or policies or
any bonuses attaching to them or part of them in such manner as the Trustee shall consider most
beneficial to the person beneficially interested under these trusts.

16.3 Power to apply any part of the capital or income (including accumulations of income) of the Trust
Fund subject to this Trust in or towards the payment of the premiums or other amounts (if any)
necessary for keeping on foot or restoring any policy or policies forming part of the Trust Fund.

16.4 Notwithstanding the aforesaid, nothing herein shall be construed or interpreted as imposing an
obligation on the part of the Trustee to exercise any of the above powers nor requiring the Trustee
to raise money (by means of borrowing or otherwise) in order to exercise any of the powers if there
is insufficient Trust Fund.

16.5 For the avoidance of doubt, the Trustee is not required to research and select insurance company,
insurance product and/or insurance agent/broker with respect to any policy or policies. In this regard,
the Trustee shall not be liable for any loss to the Trust Fund arising by reason of the malperformance or under coverage of any policy or policies or the financial standing of the insurance
company with whom the policy or policies are or have been effected. Further, the Trustee shall not
be liable to any default, negligence, mistake or omission on its part or on the part of its agent
servants and/or employed in relation to any policy or policies whatsoever save and except any willful
and intentional fraud on the part of the Trustee.

17 Delegation

17.1 Power to delegate all or any of the powers of the Trustee contained in this Schedule 1 (including
this power) and any administrative power conferred by law (and all or any of the duties and
discretions of the Trustee relating to the exercise of such powers) to any person or persons (not
being the Settlor) subject to such conditions (if any) as the Trustee shall think fit (without being
liable for the acts or defaults of any such delegate) and to revoke or modify any such delegation or
conditions.

17.2 Without prejudice to clauses 1 and 17.1 of this Schedule 1, the Trustee may delegate their powers
under clause 1 of this Schedule 1 and any other powers conferred by this Trust or the general law
relating to the choice of investments and the management or administration of trust money or other
trust property to any person or body carrying on the business of investment management to any
extent for any period on any terms and in such manner as the Trustee thinks fit and may remunerate
such person or body and vest trust money or trust property in such person or body as their nominee.

18 Transactions with other trustees
Power from time to time in their absolute discretion to enter into any agreement or transaction with the
Trustee or trustees of any other Trust or will (being an agreement or transaction which apart from this present
provision the Trustee could properly have entered into if one or more of them had not also been a trustee of
such other Trust or will) notwithstanding that the Trustee may also be trustees or a trustee or the sole Trustee
of such other Trust or will and in like manner in all respects as if the Trustee were not a trustee of such other
Trust or will.

19 Power to sign cheques
Power to permit the Trustee to sign cheques on any bank account in the names of the Trustee and generally
to sign orders and authorities to any bank, cryptocurrency exchange or investment dealer on behalf of the
Trustee.

20 Receipts

20.1 Where the Trustee is authorized or required to pay or apply any capital money or income to or for
the benefit or any person who does not have the capacity to give a valid receipt for it the Trustee
may pay the same to any parent or guardian of such person for the benefit of such person without
seeing to the application of it or themselves apply the same for the benefit of such person as may
be directed in writing by such parent or guardian and the receipt of such parent or guardian shall be
a sufficient discharge to the Trustee.

20.2 The receipt of a person professing to be the treasurer or another proper officer of any charity to
which any capital or income may be payable or transferable under this Trust shall be a sufficient
discharge to the Trustee.

21 Incidental costs
Power to pay out of the Trust Fund the costs of and incidental to the preparation and completion of this Trust
(including any stamp duty payable on it.).

1. Overview
Marathon Corporate Services Limited (the company) has adopted this Privacy Statement to explain how we may collect, retain, process, share and transfer your Personal Data when you visit our Sites or use our Services. This Privacy Statement applies to your Personal Data when you visit Sites or use Services and does not apply to online websites or services that we do not own or control, including websites or services of third-party companies or Members.

This Privacy Statement is designed to help you obtain information about our privacy practices and to help you understand your privacy choices when you use our Sites and Services. Please note that our Service offerings may vary by region.

We have defined some terms that we use throughout the Privacy Statement. You can find the meaning of a capitalized term in the Definitions section.

Please contact us if you have questions about our privacy practices that are not addressed in this Privacy Statement.

2. What Personal Data Do We Collect?

We collect information about you visit our Sites or use our Services, including the following:

Registration and use information – When you register to use our Services by establishing an Account, we will collect Personal Data as necessary to offer and fulfil the Services you request. Depending on the Services you choose, we may require you to provide us with your name, postal address, telephone number, email address and identification information to establish an Account. We may require you to provide us with additional Personal Data as you use our Services.

Transaction and experience information – When you use our Services or access our Sites, for example, to make purchases from merchants, to receive money, to process payments, or to send money to friends and family, we collect information about the transaction, as well as other information associated with the transaction such as amount sent or requested, amount paid for products or services, merchant information, including information about any funding instruments used to complete the transaction, Device Information, Technical Usage Data, and Geolocation Information.

• Participant information – When you use our Services or access our Sites, we collect Personal Data you provide us about the other participants associated with the transaction.

• Send or request money: When you send or request money through the Services, we collect Personal Data such as name, postal address, telephone number, and financial account information about the participant who is receiving money from you or sending money to you. The extent of Personal Data required about a participant may vary depending on the Services you are using to send or request money.

• Pay or request someone else to pay a bill: If you use our Services to pay a bill for the benefit of someone else, or if you request a Third-party to pay a bill for you, we collect Personal Data from you about the party such as name, postal address, telephone number, email address, and account number of the bill that you intend to pay or request to be paid.

• Add value to your accounts: If you use our Services to add value to your Account or any other account you may have, or if you ask a Third Party to add value to any of these accounts, we may collect Personal Data from you about the Third Party, or from Third Party about you to facilitate the request. For example, if you use our Services to reload a mobile phone, or to request value be added to your mobile account, we may collect Personal Data and other information including a mobile account number from the Third Party.

• Information about your friends and contacts –if you choose to connect your contact list information with your Account. If you establish an account connection between your device or a social media platform and your Account, we may use your contact list information (such as name, address, email) to improve your experience when you use the Services.

Information that you choose to provide us to obtain additional Services or specific online Services – If you request or participate in an optional Site feature, or request enhanced Services or other elective functionality, we may collect additional information from you. We will provide you with a separate notice at the time of collection if the use of that information differs from the uses disclosed in this Privacy Statement.

If you are an Account holder and choose to engage in a transaction with a third party who is an account holder with the Company, we will collect information about the transaction and may associate it with your Account. If you are not an Account holder and choose to receive payment an account with the Company, we will collect and store all information you provide and use and share such information in accordance with this Privacy Statement.

• Information about you from third-party sources – We obtain information from third-party sources such as merchants, data providers, and credit bureaus, where permitted by law.

• Other information we collect related to your use of our Sites or Services – We may collect additional information from or about you when you communicate with us, contact our customer support teams or respond to a survey.

3. Why Do We Retain Personal Data?

We retain Personal Data to fulfil our legal or regulatory obligations and for our business purposes. If your Account is closed, we may take steps to mask Personal Data and other information, but we reserve our ability to retain and access the data for so long as required to comply with applicable laws. We will continue to use and disclose such Personal Data in accordance with this Privacy Statement.

4. How Do We Process Personal Data?

We may Process your information for the following reasons:

• To operate the Sites and provide the Services, including to:

• initiate a payment, send or request money, add value to an account, or pay a bill;

• authenticate your access to an Account;

• communicate with you about your Account, the Sites, the Services, or The Company;

• create an account connection between your Account and a third-party account or platform;

• perform creditworthiness and other financial standing checks, evaluate applications, and compare information for accuracy and verification purposes; and

• keep your Account and financial information up to date.

• To manage our business needs, such as monitoring, analyzing, and improving the Services and the Sites’ performance and functionality. For example, we may analyze Member behaviour and perform research about the way you use our Services.

• To manage risk and protect the Sites, the Services and you from fraud by verifying your identity. The Company’s risk and fraud tools use Personal Data, Device Information, Technical Usage Data and Geolocation Information from our Sites and websites that offer The Company Services to help detect and prevent fraud and abuse of the Services.

• To market to you about The Company payments and financial products and Services and the payments and financial products and services of unaffiliated businesses. We may also Process your Personal Data to tailor the marketing content and certain Services or Site experiences to better match your interests on The Company and other third-party websites.

• To provide personalized Services offered by The Company on third-party websites and online services. We may use your Personal Data and other information collected in accordance with this Privacy Statement to provide a targeted display, feature, Services or offer to you on third-party websites. We may use cookies and other tracking technologies to provide these online services and/or work with other third parties such as merchants, advertising or analytics companies to provide these online services.

• To provide you with location-specific options, functionality or offers if you elect to share your Geolocation Information through the Services. We will use this information to enhance the security of the Sites and Services and provide you with location-based Services, such as advertising, search results, and other personalized content.

• To comply with our obligations and to enforce the terms of our Sites and Services, including to comply with all applicable laws and regulations.

• To make it easier for you to find and connect with others, we may use the information you have shared with the Service to suggest connections between you and people you may know. For example, we may associate information that we learn about you through your and your contacts’ use of the Services, and information you and others provide to suggest people you may know or may want to transact with through our Services. Social functionality and features designed to simplify your use of the Services with others vary by Service.

• To respond to your requests, for example, to contact you about a question you submitted to our customer service team.

5. Personal Data Sharing

We may share your Personal Data or other information about you with others in a variety of ways as described in this section of the Privacy Statement.

We may share your Personal Data or other information for the following reasons:

With other members of the Company corporate family: We may share your Personal Data with members of the Company family of entities to, among other things, provide the Services you have requested or authorized; to manage risk; to help detect and prevent potentially illegal and fraudulent acts and other violations of our policies and agreements; and to help us manage the availability and connectivity of The Company products, Services, and communications.

With other companies that provide services to us: We may share Personal Data with third-party service providers that perform services and functions at our direction and on our behalf. These third-party service providers may, for example, provide you with Services, verify your identity, assist in processing transactions, send you advertisements for our products and services, or provide customer support.

With other financial institutions: We may share Personal Data with other financial institutions that we have partnered with to jointly create and offer a product, such as Banks, and Payment Gateway or service providers in connection with payments made to or charged against credit and debit cards and/or Bank or other financial institution accounts as required to facilitate payments and or charges on your account. These financial institutions may only use this information to market and offer Company-related products unless you have given consent for other uses. We may also share Personal Data to process transactions, provide you with benefits associated with your eligible cards, and keep your financial information up to date.

With the other parties to transactions when you use the Services, such as Third Parties, merchants, and their service providers: We may share information about you and your Account with the other parties involved in processing your transactions. This includes third Parties you are sending or receiving funds from, and merchants, and their service providers. The information might include:

• Personal Data and Account Information necessary to facilitate the transaction;

• information to help other participants (s) resolve disputes and detect and prevent fraud, and

• aggregated data and performance analytics to help merchants better understand Members and to help merchants enhance Members’ experiences.

With other third parties for our business purposes or as permitted or required by law: We may share information about you with other parties for the Company’s business purposes or as permitted or required by law, including:

if we need to do so to comply with a law, legal process or regulations;

law enforcement, regulators, government officials, or other third parties (in Hong Kong or elsewhere or elsewhere) in relation to a subpoena, court order, or other legal process or requirement under Singapore law or regulation, or the laws and regulations of other jurisdictions that are applicable to the Company or one of its affiliates; when we need to do so to comply with such law or credit card rules; or when we believe, in our sole discretion, that the disclosure of Personal Data is necessary or appropriate to prevent physical harm or financial loss; or to report suspected illegal activity or to investigate violations of a Member agreement;

• to protect the vital interests of a person;

• to protect our property, Services and legal rights;

• to facilitate a purchase or sale of all or part of The Company’s business;

• in connection with shipping and related services for purchases made using a Service;

• to help assess and manage risk and prevent fraud against us, our Members and fraud involving our Sites or use of our Services, including fraud that occurs at or involves our business partners, strategic ventures, or other individuals and merchants, such as eBay, Inc.;

• to banking partners as required by card association rules for inclusion on their list of terminated merchants;

• to credit reporting and collection agencies;

• to companies that we plan to merge with or be acquired by; and

• to support our audit, compliance, and corporate governance functions.

With your consent: We also will share your Personal Data and other information with your consent or direction, including if you authorize an account connection with a third-party account or platform.

In addition, The Company may provide aggregated statistical data to third parties, including other businesses and members of the public, about how, when, and why Members visit our Sites and use our Services. This data will not personally identify you or provide information about your use of the Sites or Services. We do not share your Personal Data with third parties for their marketing purposes without your consent.

6. How Do We Work with Other Services and Platforms?

A significant benefit and innovation of The Company’s Services is that you can connect your Account with third-party accounts or platforms. For the purposes of this Privacy Statement, an “account connection” with such a third-party is a connection you authorize or enable between your Account and a non-Company account, payment instrument, or platform that you lawfully control or own. When you authorize such a connection, The Company and the third-party will exchange your Personal Data and other information directly. Examples of account connections include:

• linking your Account to a social media account or social messaging service;

• connecting your Account to a third-party data aggregation or financial services company, if you provide such company with your Account log-in credentials; or

• using your Account to make payments to a merchant or allowing a merchant to charge your Account.

• If you choose to create an account connection, we may receive information from the third-party about you and your use of the third-party’s service.

o For example, if you connect your Account to a social media account, we will receive Personal Data from the social media provider via the account connection. If you connect your Account to other financial accounts, directly or through a third-party service provider, we may have access to your account balance and transactional information, such as purchases and funds transfers. We will use all such information that we receive from a third-party via an account connection in a manner consistent with this Privacy Statement.

• Information that we share with a third-party based on an account connection will be used and disclosed in accordance with the third-party’s privacy practices.

• Before authorizing an account connection, you should review the privacy notice of any third-party that will gain access to your Personal Data as part of the account connection.

o For example, Personal Data that The Company shares with a third-party account or platform such as a social media account may, in turn, be shared with certain other parties, including the general public, depending on the account’s or platform’s privacy practices.

7. How Do We Use Cookies and Tracking Technologies?

When you visit our Sites, use our Services, or visit a third-party website for which we provide Online Services, we and our business partners and vendors may use cookies and other tracking technologies (collectively, “Cookies”) to recognize you as a Member and to customize your online experiences, the Services you use, and other online content and advertising; measure the effectiveness of promotions and perform analytics; and to mitigate risk, prevent potential fraud, and promote trust and safety across our Sites and Services. Certain aspects and features of our Services and Sites are only available through the use of Cookies, so if you choose to disable or decline Cookies, your use of the Sites and Services may be limited or not possible.

When you visit or interact with our sites, services, applications, tools or messaging, we or our authorized service providers may use cookies, web beacons, and other similar technologies for storing information to help provide you with a better, faster, and safer experience and for advertising purposes.

This page is designed to help you understand more about these technologies and our use of them on our sites and in our services, applications, and tools. Below is a summary of a few key things you should know about our use of such technologies. You can review the contents of our full Member Cookie Notice below.

Our cookies and similar technologies have different functions. They are either necessary for the functioning of our services, help us improve our performance, give you extra functionalities, or help us to serve you relevant and targeted ads. We use cookies and similar technologies that only remain on your device for as long as you keep your browser active (session) and cookies and similar technologies that remain on your device for a longer period (persistent). You are free to block, delete, or disable these cookies if your device permits so. You can manage your cookies and your cookie preferences in your browser or device settings.

Where possible, security measures are set in place to prevent unauthorized access to our cookies and similar technologies. A unique identifier ensures that only we and/or our authorized service providers have access to cookie data.

Service providers are companies that help us with various aspects of our business, such as site operations, services, applications, advertisements and tools. We use some authorized service providers to help us to serve you relevant ads on our services and other places on the internet. These service providers may also place cookies on your device via our services (third party cookies). They may also collect information that helps them identify your devices, such as IP-address or other unique or device identifiers.

What are cookies, web beacons, and similar technologies?

• Like most sites, we use technologies that are essentially small data files placed on your computer, tablet, mobile phone, or other devices (referred to collectively as a “device”) that allow us to record certain pieces of information whenever you visit or interact with our sites, services, applications, messaging, and tools.

• The specific names and types of cookies, web beacons, and other similar technologies we use may change from time to time. In order to help you better understand this Policy and our use of such technologies we have provided the following limited terminology and definitions:

• Cookies – Small text files (typically made up of letters and numbers) placed in the memory of your browser or device when you visit a website or view a message. Cookies allow a website to recognize a particular device or browser. There are several types of cookies:

• Session cookies expire at the end of your browser session and allow us to link your actions during that particular browser session.

• Persistent cookies are stored on your device in between browser sessions, allowing us to remember your preferences or actions across multiple sites.

• First-party cookies are set by the site you are visiting.

• Third-party cookies are set by a third-party site separate from the site you are visiting.

• Cookies can be disabled or removed by tools that are available in most commercial browsers. The preferences for each browser you use will need to be set separately and different browsers offer different functionality and options.

• Web beacons – Small graphic images (also known as “pixel tags” or “clear GIFs”) that may be included on our sites, services, applications, messaging, and tools, that typically work in conjunction with cookies to identify our Members and Member behaviour.

Similar technologies – Technologies that store information in your browser or device utilizing local shared objects or local storage, such as flash cookies, HTML 5 cookies, and other web application software methods. These technologies can operate across all of your browsers, and in some instances may not be fully managed by your browser and may require management directly through your installed applications or device. We do not use these technologies for storing information to target advertising to you on or off our sites.

We may use the terms “cookies” or “similar technologies” interchangeably in our policies to refer to all technologies that we may use to store data in your browser or device or that collect information or help us identify you in the manner described above.

Why we use cookies

Our cookies and similar technologies have different functions. They are either necessary for the functioning of our services, help us improve our performance, give you extra functionalities, or help us to serve you relevant and targeted ads. We use both session and persistent cookies and similar technologies.

Generally, these technologies allow our sites, services, applications, and tools to store relevant information in your browser or device and later read that information in order to identify your device to our servers or internal systems. Where applicable, we protect our cookies and other similar technologies to help ensure that only we and/or our authorized service providers can interpret them by assigning them a unique identifier that is designed for interpretation only by us.

Our uses of such technologies fall into the following general categories:

Essential. We may use cookies, web beacons, or other similar technologies that are necessary to the operation of our sites, services, applications, and tools. This includes technologies that allow you access to our sites, services, applications, and tools; that are required to identify irregular site behaviour, prevent fraudulent activity and improve security; or that allow you to make use of our functions such as shopping-carts, saved search, or similar functions;

Performance Related. We may use cookies, web beacons, or other similar technologies to assess the performance of our websites, applications, services, and tools, including as part of our analytic practices to help us understand how our visitors use our websites, determine if you have interacted with our messaging, determine whether you have viewed an item or link, or to improve our website content, applications, services, or tools;

Functionality Related. We may use cookies, web beacons, or other similar technologies that allow us to offer you enhanced functionality when accessing or using our sites, services, applications, or tools. This may include identifying you when you sign into our sites or keeping track of your specified preferences, interests, or past items viewed so that we may enhance the presentation of content on our sites;

Advertising or Targeting Related. We may use first-party or third-party cookies and web beacons to deliver content, including ads relevant to your interests, on our sites or on third party sites. This includes using technologies to understand the usefulness to you of the advertisements and content that have been delivered to you, such as whether you have clicked on an advertisement.

Any personal information that we collect and store through the use of these technologies for categories 2 through 4 above are based on your consent, obtained through a conspicuous disclosure on our website during your first visit. You can withdraw this consent through your browser settings as explained below.

For browser-specific information on how to adjust cookie configurations on the following browsers, please click on the relevant link below:

• Internet Explorer

• Firefox

• Chrome

• OSX/Mac OS

• iOS

Use of these technologies by authorized third-party service providers

We may work with third-party companies, commonly known as service providers, who are authorized to place third-party cookies, web beacons, or similar technologies for storing information on our sites or in our services, applications, and tools with our permission. These service providers help us to provide you with a better, faster, and safer experience.

These service providers may use these technologies to help us deliver our own content and advertising and compile anonymous site metrics and analytics. We do not permit any of these service providers to collect any of your personal information on our sites or in our services, applications, or tools for their own purposes. These service providers are subject to confidentiality agreements with us and other legal restrictions on their use or collection of any personal information. Third-party cookies are covered by the third-parties’ privacy policy.

With the exception of the use of such technologies by our service providers or other authorized third-parties, we do not permit any third-party content on sites (such as item listings, member-to-member communications, classified listings, comments, reviews, etc.) to include or utilize any cookies, web beacons, local storage, or similar technologies for tracking purposes or to collect your personal information. If you believe a listing or other third-party content might be collecting personal information or using tracking technologies on one of our sites, please report it to info@mcoserv.com

Ad networks and exchanges operated by authorized third parties for interest-based advertising

Though we do not currently, we may use third parties, such as advertising networks and exchanges, to allow us to serve you advertisements. These third-party ad networks and exchange providers may use third-party cookies, web beacons, or similar technologies to collect information about your visit to our site and elsewhere on the Internet. They may also collect your device identifier, IP address, or identifier for advertising (IDFA). The information that these third parties collect may be used to provide you with more relevant advertising on our sites or elsewhere on the web. Third-party cookies are covered by the third-parties’ privacy policies.

“Do Not Track”

As there currently isn’t an industry or legal standard for recognizing or honouring DNT signals, we don’t respond to them at this time. We await the result of work by the privacy community and industry to determine when such a response is appropriate and what form it should take.

8. What Privacy Choices Are Available to You?

You have choices when it comes to the privacy practices and communications described in this Privacy Statement. Many of your choices may be explained at the time you sign up for or use a Service or in the context of your use of a Site. You may be provided with instructions and prompts within the experiences as you navigate the Services.

• Choices Relating to the Personal Data We Collect

• Personal Data. You may decline to provide Personal Data when it is requested by The Company, but certain Services or all of the Services may be unavailable to you.

• Location and other device-level information. The device you use to access the Sites or Services may collect information about you, including Geolocation Information and Member usage data that The Company may then collect and use. For information about your ability to restrict the collection and use of such information, please use the settings available in the device.

• Choices Relating to Our Use of Your Personal Data

• Personalized Services offered by The Company on third-party websites and services. You may manage your preferences for other The Company Services that are personalized and offered to you on third-party websites from your Account. We may also provide you with instructions and prompts on how to manage your preferences within the Service experience.

• Finding and connecting with others. If available, you may manage your preferences for finding and connecting with others from your account of the Service you use.

Choices Relating to Account Connections

• If you authorize an account connection to a third-party account or platform, such as a social media account, you may be able to manage your connection preferences from your Account or the third-party account or platform. Please refer to the privacy notice that governs the third-party platform for more information on the choices you may have.

• Choices Relating to Cookies

• You may have options available to manage your cookies preferences. For example, your browser or internet device may allow you to delete, disable, or block certain cookies and other tracking technologies. You can learn more by visiting AboutCookies.org. You may choose to enable these options but doing so may prevent you from using many of the core features and functions available on a Service or Site.

• You may have an option regarding the use of cookies and other tracking technologies when you use a Service or visit parts of a Site. For example, you may be asked if you want the Service or Site to “remember” certain things about you, and we will use cookies and other tracking technologies to the extent that you permit them.

You can learn more about our cookies and tracking technologies by visiting the Statement on Cookies and Tracking Technologies page.

• Choices Relating to Your Registration and Account Information

• If you have an Account, you generally may review and edit Personal Data by logging in and updating the information directly or by contacting us. Contact us if you do not have an Account or if you have questions about your Account information or other Personal Data.

• Choices Relating to Communication

• Notices, Alerts and Updates from Us:

• Marketing: With your consent, we may send you marketing content about our Sites, Services, products, products we jointly offer with financial institutions, as well as the products and services of unaffiliated third parties and members of The Company corporate family through various communication channels, for example, email, text, pop-ups, push notifications, and messaging applications. You may opt-out of these marketing communications by following the instructions in the communications you receive. If you have an Account with us, you may also adjust your communication preferences in your Account Settings. For messages sent via push notifications, you may manage your preferences in your device.

• Informational and Other: We will send communications to you that are required or necessary to send to Members of our Services, notifications that contain important information and other communications that you request from us. You may not opt-out of receiving these communications. However, you may be able to adjust the media and format through which you receive these notices.

9. How Do We Protect Your Personal Data?

We maintain technical, physical, and administrative security measures designed to provide reasonable protection for your Personal Data against loss, misuse, unauthorized access, disclosure, and alteration. The security measures include firewalls, data encryption, physical access controls to our data centres, and information access authorization controls. While we are dedicated to securing our systems and Services, you are responsible for securing and maintaining the privacy of your password(s) and Account/profile registration information and verifying that the Personal Data we maintain about you is accurate and current. We are not responsible for protecting any Personal Data that we share with a third-party based on an account connection that you have authorized.

10. Can Children Use Our Services?

The Sites and Services are not directed to children under the age of 18. We do not knowingly collect information, including Personal Data, from children or other individuals who are not legally able to use our Sites and Services. If we obtain actual knowledge that we have collected Personal Data from a child under the age of 18, we will promptly delete it, unless we are legally obligated to retain such data. Contact us if you believe that we have mistakenly or unintentionally collected information from a child under the age of 18.

11. What Else Should You Know?

Changes to This Privacy Statement.

We may revise this Privacy Statement from time to time to reflect changes to our business, the Sites or Services, or applicable laws. The revised Privacy Statement will be effective as of the published effective date.

If the revised version includes a substantial change, we will provide you with 30 days prior notice by posting notice of the change on the “Policy Update” page of our website. We also may notify Members of the change using email or other means.

Transfers of Your Personal Data to Other Countries

Our operations are supported by a network of computers, cloud-based servers, and other infrastructure and information technology, including, but not limited to, third-party service providers. We and our third-party service providers store and Process your Personal Data in the United States of America and elsewhere in the world. We will protect your information as described in this Privacy Statement if your Personal Data is transferred to other countries. By using our Sites and Services, you consent to your Personal Data being transferred to other countries, including countries that have different data protection rules than your country. We do not represent that our Sites and Services are appropriate or available in any particular jurisdiction.

12. Contact Us

You may contact us if you have general questions about our Privacy Statement and practices or questions about your Account information or Personal Data.

You have the right to request access to and the correction of Personal Data that we hold about you, which requests will be reviewed and processed in accordance with applicable law.

We want to make sure your questions go to the right place:

info@mcoserv.com

Our Data Protection Officer can be contacted at Marathon Corporate Services Limited 11th Fl Tower 2, Admiralty Centre,18 Harcourt Road, Admiralty, Hong Kong (SAR)

13. Definitions

Account means a Company or Trust member account.

Device Information means data that can be automatically collected from any device used to access the Sites or Services. Such information may include, but is not limited to, your device type; your device’s network connections; your device’s name; your device’s IP address; information about your device’s web browser and the internet connection being used to access the Site or Services; Geolocation Information; information about apps downloaded to your device; and biometric data (e.g., Touch ID/Fingerprint to verify your identity).

Geolocation Information means information that identifies with reasonable specificity your location by using, for instance, longitude and latitude coordinates obtained through GPS, Wi-Fi, or cell site triangulation. Some of our Services may ask you for permission to share your current location. Some of the Sites and Services require this information to provide a specific product or online Service. If you do not agree to our collection of the geolocation information, our Sites or Services may not function properly when you try to use them.

The Company means The Company Hong Kong Limited and subsidiaries or affiliates. In this Privacy Statement, The Company is sometimes referred to as “we,” “us,” or “our,” depending on the context.

Personal Data means personal information that can be associated with an identified or identifiable person. “Personal Data” can include name, postal address (including billing and shipping addresses), telephone number, email address, payment card number, other financial account information, account number, date of birth, and government-issued credentials (e.g., driver’s license number, national ID, passport, Social Security number and Taxpayer ID). Personal Data does not include information that does not identify a specific Member.

Process means any method or way that we handle Personal Data or sets of Personal Data, whether or not by automated means, such as collection, recording, organization, structuring, storage, adaptation or alteration, retrieval, and consultation, disclosure by transmission, disseminating or otherwise making available, alignment or combination, restriction, erasure or destruction of Personal Data.

Services means any products, services, content, features, technologies, or functions, and all related websites, applications and services offered to you by The Company in connection with an Account or Third-Party payment.

Sites means the websites, mobile apps, official social media platforms, or other online properties through which The Company offers the Services, and which has posted or linked to this Privacy Statement.

Technical Usage Data means information we collect from your phone, computer or other devices that you use to access the Sites or Services. Technical Usage Data tells us how you use the Sites and Services, such as what you have searched for and viewed on the Sites and the way you use our Services, including your IP address, statistics regarding how pages are loaded or viewed, the websites you visited before coming to the Sites and other usage and browsing information collected through Cookies.

Third-Party Means a party other than the Member who either receives a payment from or remits payment to the Trust on behalf of a Member Such third party would also include any party who provides a service to the member through or on conjunction with the Trust.

Member means an individual who uses the Services or accesses the Sites and has established a relationship with The Company (for example, by opening an Account and agreeing to the Membership Agreement) or otherwise uses the Services as a buyer, seller or other type of participant to a transaction, including a Third Party payment.

14. Additional Information

The information provided in this section may be specific to customers depending on your region or how you use the Services. This information is provided to The Company from third parties with whom you may interact with when using the Services.

Google ReCaptcha

The Company may use ReCaptcha on the Sites and Services. Your use of ReCaptcha is subject to the Google Privacy Policy and Terms of Use.

Consumer Advisory – In Hong Kong since 2018, trust or company service providers must be licensed under the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (Cap. 615) (“AMLO”). Marathon Corporate Services Limited (the “Company”) is a licensed Trust and Company Services Provider (“TCSP”) registered in Hong Kong (License Number: TC006228) Members in Hong Kong SAR are advised to read the terms and conditions provided for any product or service provided carefully.

When you visit or interact with our sites, services, applications, tools or messaging, we or our authorized service providers may use cookies, web beacons, and other similar technologies for storing information to help provide you with a better, faster and safer experience and for advertising purposes.