1.1. The basis of cooperation
TechTradeCoin (hereinafter TechTradeCoin) is a decentralized platform that applies Blockchain and AI technology to hotel business models and global payment. Active partners of TechTradeCoin may choose to participate in the above activities and receive certain bonuses and commissions based on their position in the company’s network and their business performance.
1.2. The purpose of the Terms and Conditions (hereinafter the Terms)
1.2.1. The Terms contains rules and guidelines governing the full scope of cooperation between TechTradeCoin and its partners as well as the cooperation among partners.
1.2.2. The Terms intends to create the legal and technical framework for our partners to broaden their customer base and develop their business, therefore maximising the benefits from their association with TechTradeCoin. The Terms also aims to regulate the use of the company’s web pages and intellectual property as well as the use of the products and services offered by the company.
1.3. The Scope of the Terms and Conditions
The Terms cover TechTradeCoin’ marketing, sales and financial know-how relating to the company’s business system, as available on the company’s web site (techtradecoin.net). All these are the exclusive property of the company. Upon its acceptance, the Terms are valid for an indefinite period or until any changes are made and announced by the company.
1.4. Defining the relationship between TechTradeCoin and its partners
1.4.1. The cooperation agreement between TechTradeCoin and its independent partners does not create an employer/employee relationship or any type of joint venture or joint ownership. Partners are not classed as employees from an industrial or taxation point of view. It is the partners’ responsibility to comply with all taxation and legal regulations in their own territory and jurisdiction. TechTradeCoin will not deduct any taxes or duties from partners’ bonuses and other remuneration, except when the company is obliged under law to do so any time in the future. TechTradeCoin will not be held responsible for any non -compliance with prevailing tax regulations and legal requirements on behalf of its partners.
1.4.2. Partners are not representatives or agents of TechTradeCoin and they may not hold themselves out to be as such. Partners may not enter into any agreement with third parties, create expenses, make commitments or open accounts on behalf of TechTradeCoin. Partners are free to decide how and when they run their own TechTradeCoin business and to set their own specific goals and agendas as long as they remain within the framework and the spirit of the Terms as well as legal requirements and generally accepted codes of conduct.
1.4.3. All expenses incurred while expanding their own TechTradeCoin business (eg. travel, food, accommodation, business and administration costs, telephone and telecommunication, training, etc.) are to be borne by the partners.
2.1 Basic principles
Partners of TechTradeCoin understand and accept that:
2.1.1. Their membership in TechTradeCoin and all rights and benefits associated with such a membership (position in the network, eligibility to receive commissions, bonuses and discounts, etc.) may be suspended or cancelled if they consciously and repeatedly act and behave in a way that is contrary to the provisions and the spirit of the Terms.
Members are liable for any losses and/or damages caused by such violations of the Terms.
2.1.2. Partners will be responsible for the wellbeing of their customers and, as sponsors, for the development of the partners with whom they’d introduced TechTradeCoin. Partners will conduct their business in a decent and honest manner which reflects the high ethical standards of the TechTradeCoin system. They can expect the same behaviour and treatment from other members of their groups.
2.1.3. Partners will present products and business opportunities offered by TechTradeCoin in an honest and realistic way, without any exaggeration or undue euphemism. Naturally, partners are free to give a personal account of their own experiences and successes. They will not promise quick money or fast success as these promises are foreign to TechTradeCoin. Partners must take responsibility for any potential loss or damage resulting from non-compliance.
2.1.4. Partners of TechTradeCoin will refrain from publishing written or oral statements which are not part of TechTradeCoin’ own official marketing and promotion material. Partners are responsible for maintaining and building the good reputation of TechTradeCoin and its management, staff, employees and representatives even after the eventual cessation or termination of the agreement between partners and TechTradeCoin.
2.1.5. Should partners have any questions and issues regarding the products and/or the business opportunities, they should first consult their upline sponsor(s). Should there be any uncertainty about the Terms or any of its provisions, the sponsor(s) and TechTradeCoin will make every effort to clarify them. TechTradeCoin makes every possible effort to align all aspects and areas of its activities with prevailing rules and legal requirements.
2.1.6. Partners will follow and monitor any alteration or change in the Terms. Any such change will be communicated to partners by TechTradeCoin and they become effective on the day they appear on the techtradecoin.net website. TechTradeCoin strongly believes in creating and maintaining a stable long-term framework for the cooperation between itself and its partners in the interest of the long-term success of our business, TechTradeCoin reserves the right to alter and change any provision of the Terms when such changes are made necessary and desirable resulted from changes in market conditions and/or the legal environment.
2.1.7. Partners, if possible, will attend company events and meetings and will encourage members of their team to do the same. They all understand that continuous training and self-development are essential for success in business in general and network marketing in particular.
2.1.8. Partners will not make use of company events and meetings to promote the products and/or services and/or opportunities offered by other marketing systems.
2.1.9. Partners will not use any of their contacts they made in TechTradeCoin to promote other business opportunities or products or services. They will not recruit members from the ranks of the TechTradeCoin network into other marketing systems, especially not for any other business with a profile that is similar to that of TechTradeCoin.
2.1.10. To preserve the integrity and stability of our business, and to recognize the hard work of our leaders, TechTradeCoin, as a general rule, will not support any request from its partners to change their sponsor(s). TechTradeCoin believes it is important to safeguard the hierarchy in the network.
2.1.11. Partners may ask the company to place them in a new structure if, and only if it has been proven that unethical, misleading and dishonest methods and practices had been applied when they were sponsored. Such requests will be carefully investigated and ruled upon on a case-by-case basis. Requests may be honored if all partners affected by a change of sponsors agree to such a change in writing. TechTradeCoin will investigate thoroughly any accusations of unethical conduct and act if necessary.
2.1.12. Some partners, driven by uncontrolled enthusiasm, may occasionally make the mistake of painting unrealistic or misleading visions about income expectations. This may disappoint many new partners as not everybody will reach the same high levels of success over a given time frame. TechTradeCoin recommends that partners share their own personal success stories instead of making idealistic statements.
2.1.13. Partners are not allowed to present the products, services and the business opportunities offered by TechTradeCoin together with other products, services and opportunities because this may create the false impression that there might be a link or connection between different systems and companies. Likewise, partners should not promote products, services and business opportunities offered by other companies within the TechTradeCoin system.
2.1.14. Any public degradation of TechTradeCoin and its products, services, compensation plan, employees and management will be regarded as a blatant breach of the rules contained in the Terms and the Code of Ethics.
2.2 Ethics Committee
Any violation of the Terms and the Code of Ethics will result in convening the Ethics Committee, consisting of the upline of the partner accused of the violation, a representative of TechTradeCoin management and an outside expert. It is the Ethics Committee’s exclusive right to:
2.3 Reimbursement of Expenses
Partner’s bonuses may be withheld in part or in full while an ethics investigation is underway. If a violating partner’s liability is established, TechTradeCoin is entitled to claim compensation and may pursue its claim in court.
3. RELATIONSHIP OF THE PARTIES
The basis for the relationship between TechTradeCoin and its partners is the Terms and its annexes. Partners understand that they will act as an independent market player at their own risk and responsibility when participating in the system and/or referring new partners to the system. Partners are responsible for their own acts, statements and behavior and no responsibility for their acts, statements and behavior may be passed over to TechTradeCoin. By accepting the Terms, partners agree to automatically enter a cooperation agreement with TechTradeCoin.
3.1.1. Partners wishing to register should click on the tab on the techtradecoin.net website, select a pack and fill out the online registration form, followed by the completion of the personal profile data form in their web office. No person under the legal age of 18 may register. Registered partners could be natural persons aged 18 and above as well as business entities as defined in 3.1.6. Natural persons must be mature and able to handle their own affairs and enter into formal agreements independently, without any mental impairment. People unable to act on their own (eg. when under psychiatric care or in custody) are not allowed to register. Should any of these conditions arise after a registration is made – eg. treatment, imprisonment, etc. – the partner’s position will be suspended.
3.1.2. Upon registration, the following information must first be given to create an account: referrer’s name, user name, email address, password and date of birth. The following billing information is also required: first name, last name, address, city, zip code, country and phone number. Upon entering these data, newly registered partners receive a confirmation email message containing a randomly generated password (this can be changed by the partner any time).
3.1.3. After successfully registered, partners may enter their own web office, protected by a password, containing information that the public is not allowed to see.
3.1.4. Partners must treat their web office and data therein confidentially. The user name and password must not be disclosed. It is recommended that passwords are changed from time to time. TechTradeCoin takes no responsibility for any losses or other problems arising from the partner’s password getting into the hands of unauthorized third persons.
3.1.5. Registrations may be initiated either using the sponsor’s referral link or TechTradeCoin home page (in the latter case the person wishing to register must enter his/her sponsor’s ID number). The newly registered partner is placed in his/her sponsor’s team as the sponsor’s directly sponsored partner (first generation in the sponsor’s genealogy). All new partners will be first generation to their personal sponsor and 2nd generation to their sponsor’s sponsor and so on. The hierarchy is registered and stored in TechTradeCoin’ genealogy records.
All new partners have their own position in the TechTradeCoin binary structure. The binary system means that every registered partner has two positions below their own position, one on the left, one on the right. Newly registered partners are placed in a temporary “holding tank” in their sponsor’s web office when they purchase their Pack. It is the sponsor’s responsibility to find an appropriate and available empty position in this binary business structure and place the newly sponsored partner in the selected empty position. The sponsor has until the weekly close to do this; otherwise, TechTradeCoin will place the new member into an available empty place automatically.
3.1.6. Legal entities (private and public companies, associations, clubs, foundations, etc.) may also register with TechTradeCoin. They, too, need to complete the online registration form and submit, within 30 days from their online registration, a copy of their Articles of Association and/or other documents, signed by the representative (Director) of the organisation validating the partner’s identity. Until all required documents are received, TechTradeCoin shall withhold the payment of bonuses.
3.1.7. Partners may, at any time, change their status from „individual” to any legal entity for a one-time charge of EUR 25, USD 23.
3.1.9. Partners must arrange for the transfer of funds into TechTradeCoin and activate their free position within 14 days of their registration if they wish to keep their position. The position will be cancelled after that period. If a new partner earns affiliate bonuses but the position is not activated within 14 days of registration, those bonuses are lost, and the position is cancelled.
3.1.10. TechTradeCoin reserves the right to reject any new registration.
3.1.11. The process of registration finishes when the partner selects and purchases the first available pack. The purchase of the Pack activates the partner’s position which means that the partner becomes eligible to earn bonuses under the RTCP and enjoy the benefits of membership.
3.1.12. Refund Policy: TechTradeCoin offers all partners a 14-day free tiral period, beginning on the day of their original registration. During this 14-day free trial period they have time to become familiar with the systems and business concept of TechTradeCoin. They can also use their web office without any charges or obligations. If they decide not to proceed further by activating their free position, their free position will automatically be cancelled after 14 days and all personal data will be deleted from the TechTradeCoin database. The number of days left from this 14-day free period can be seen in the column in all partners’ web office. Funds loaded to the registered partner’s TechTradeCoin E-Wallet during the 14-day free period are fully refundable unless any or all of the packs offered by TechTradeCoin have already been purchased. In this case TechTradeCoin guarantees to refund within 30 days in full all funds transferred to the partner’s E-Wallet (minus banking and transaction costs). Once any or all of the packs have been purchased by the partner within the 14 day free trial period, no refund may be claimed by that partner. When partners purchase their pack(s) they agree to irrevocably waive their right to a refund.
3.1.13. Incorrectly entered sponsor IDs cannot be changed later. A new registration is required.
3.1.14. TechTradeCoin recommends that sponsors give assistance to their new partners in the process of their registration.
3.1.15. Partners always enter their web office with their user name and password.
3.2. Forgotten user name / password
If partners forget their user name and/or password, TechTradeCoin will – upon request – send out an email message containing a link of an online platform where a new user name / password may be requested.
3.3 Transfer of funds
Partners may use credit cards, wire transfers and wallet loads to fund their TechTradeCoin E-Wallet to purchase the business pack(s) and other products selected, as defined and communicated from time to time by TechTradeCoin. All banking fees and wire transfer expenses will be borne by the partners; TechTradeCoin must receive the full net amount of the selected pack(s) to be able to pay full commissions. Upon receipt of funds wire transferred, TechTradeCoin immediately credits the amount to partners’ cash accounts in their web office, marked „available cash”. Partners may then select their business pack for purchase; thus, the position is activated. Once again, it is the responsibility of partners to ensure sufficient funds are transferred and made available for the purchase of the selected business pack. PLEASE NOTE: partners must provide their selected user name as well as the transaction ID code generated automatically by the system when making their bank wire transfer. In case there are insufficient funds in the partner’s cash account for the purchase of the selected business pack and the activation of the position, the partner receives a notification and the purchase will be kept on hold. Likewise, if a partner’s data are insufficient or inaccurate (user name, transaction ID), the purchase process will be placed on hold until all missing details are provided. TechTradeCoin will send an automatic error message identifying the problem and requests the partner to remedy it. Individual bank transfer and transaction costs must be considered and added to the net amount when transferring funds to TechTradeCoin in order to avoid a shortfall of cash.
3.4. Advantages of the relationship between TechTradeCoin and its partners
3.4.1. Partners may purchase additional business packs at the time of their registration or any other time thereafter.
3.4.2. Partners may refer new partners to TechTradeCoin and receive commissions and bonuses on such purchases.
3.4.3. Based on their performance, partners may advance to higher qualification levels in the network hierarchy and receive various bonuses paid on a real-time basis.
3.4.4. Partners may time to time participate in various competitions and rewarding challenges.
3.4.5. Partners may request assistance from their line of sponsorship as well as customer support. They may also attend training and motivation sessions and may receive promotional material for their work (some of them free of charge while others are offered for consideration, as advised time to time by the company).
3.5. Commissions & Bonuses
3.5.1. Commissions and Bonuses: the amount of money calculated based on the performance of the partner and the partner’s group and credited to the partner’s cash account in accordance with TechTradeCoin’ Real Time Compensation Plan (RTCP). To be specific,
i) referral commissions are credited within 1 hour from the time those commissions were generated
ii) bonuses from the binary structure are calculated in real time and credited to the partner’s cash account after the weekly close.
3.5.2. Partners must meet all personal and group volume requirements as set out in the RTCP to maintain qualification or advance to a higher level. Personal sales volume equals purchases made by the partner. Group sales volume equals the total combined sales volume of all partners in the partner’s network.
3.5.3. Partners may only present realistic income projections based on the RTCP and they must make it clear to all existing and new partners that such projections are not guarantees. Partners must make every effort to help new partners understand the RTCP in full detail.
3.5.4. A detailed description and definition of bonuses payable on the purchase of different packs, products and services can be found in the RTCP, available for download.
3.5.5. It is considered a serious breach of the Terms if a partner abuses the bonus payout system by doing any of the followings:
3.5.6. Transferring money out: