Terms and Conditions User

Terms & Policies
PLEASE CAREFULLY READ THESE TERMS AND CONDITIONS BEFORE USING THIS APPLICATION AND CONTRACTING!

1. General Provisions and Definitions

BETA PROGRAM NOTICE: You understand and acknowledge that this Website, its features, and the data published on the Website is being provided as a limited beta program to test out early features of the Website and underlying code base (“Beta Program“) and is made available on an “AS IS” and “AS AVAILABLE” basis for the purpose of providing RED with feedback on the quality and usability of the Application. The Website and the Application may contain errors or inaccuracies that could cause failures, corruption or loss of data — and/or errors, disruptions, or failures in transactions conducted on third-party services. RED strongly encourages you to back-up all data and information prior to using the Website or the Application. YOU ASSUME ALL RISKS AND ALL COSTS ASSOCIATED WITH YOUR USE OF THE APPLICATION, INCLUDING, WITHOUT LIMITATION, ANY INTERNET ACCESS FEES, BACK-UP EXPENSES, COSTS INCURRED FOR THE USE OF YOUR DEVICE, AND ANY DAMAGE TO ANY EQUIPMENT, SOFTWARE, INFORMATION OR DATA OR FINANCIAL DAMAGE OR LOSS. In addition, RED is not obligated to provide any maintenance, technical, or other support for the Application. We may discontinue or change any service or feature of this Beta Program at any time without notice. We do not guarantee backward compatibility of our services or availability of past data.

1.1    These General Terms and Conditions („GTCs”) regulate the access to and use by you, as an individual („User” or „you”) of certain functionalities of the RED application that offers access to a trading platform of Green Tokens (the “Application”). The application is provided by Restart Energy Democracy Platform SRL, a limited liability company with the registered office in Timișoara, 11 Gheorghe Doja Street, registered with the Trade Registry under no. J35/3221/2021, sole registration code 44729118 („RED”). These GTCs shall govern the relationship between RED and the User in connection with the access to and use of the Application for the functionalities described below.

1.2    Definitions. Unless the context otherwise requires, the following terms shall have the following meaning:

“Application” the mobile application / website allowing access to a trading platform of Green Tokens. 
“Green Sustainability Certificate”is a way to demonstrate the degree of sustainability by supporting green energy producers and consumers, as well as the amount of CO2 avoided in the atmosphere.The Green Sustainability Certificate is an ERC-721 non-fungible token and is issued at the request of GTK or REO-G holders.
“ECF Fund”the renewable energy community fund, i.e. a MWAT fund belonging to the community of users of the Application, where you can see the total number of MWAT staked in the Application. This ECF Fund is automatically replenished when the Users exercise their Staking rights.
“Green Tokens” GTK and REO-G tokens, as defined in these GTC, as well as other green and sustainability linked tokens that will be available in the future in the Application.
“GTK”  an ERC-20 fungible token having utility only in the Application, which certifies on the blockchain the amount of CO2 avoided in the atmosphere through environmentally friendly actions, such as the production or consumption of renewable energy.1 GTK is equivalent of 1T of CO2 avoided into the atmosphere (or the equivalent of other greenhouse gases).
“MWAT”an ERC-20 fungible token having utility only in the Application as a virtual battery for Green Tokens storage and a conventional token for the acquisition of Green Tokens, as well as for other functionalities / rights in the Application.
“Normal User”a User who created an account and registered in the Application.  
“User”person who, by accepting these terms and conditions, earns the right to access and use certain functionalities of the Application. The category of Users includes both the Normal Users, as well as the Verified Users (Traders).
“RED”Restart Energy Democracy Platform SRL, a limited liability company registered in Timișoara, 11E Gheorghe Doja Street, registered with the Trade Registry under no. J35/3221/2021, CUI 44729118. 
”REO-G”a non-fungible token of type ERC-721, having utility only in the Application, which represents a certificate of origin for energy produced from renewable sources.
“Reward System”facility that can be used by a User in order to register new Users in the Application as a result of actions of recommendation and promotion of the Application made by the User, which offers the possibility to the User to request a bonus / reward for each new Users registered in the Application as a result of its actions of recommendation and promotion.
”Staking”the action of blocking a number of MWAT in a User’s account in the Application in order to be able to access different functionalities of the Application.
“Terms and conditions” or “GTCs”these terms and conditions applicable to RED and User. 
”Verified User” or ”Trader”A Normal User who also completed the KYC requirements within the Application.

Additional details about the terms above as well as about other terms used in these GTCs shall have the meaning ascribed to them in the Application User’s Guide that can be accessed here.


1.3    By accessing and using the Application, you acknowledge that you have read, understood, and agree with these GTCs. Should you not agree, you are asked to stop accessing and using this Application.

Each User shall assume responsibility for the use of this Application. Thus, you agree that you shall at all times act according to the law, to these GTCs and to the User’s Guide when using and accessing this Application and that you shall not undertake any action that will deteriorate, prevent, disturb access to, discontinue or affect the operation of this Application.

RED reserves the right to make changes, including by adding or deleting, in whole or in part, the information presented through this Application. Any such change will be available at here. Any further accessing of the Application by the User after any such change shall represent the User’s approval to accept and comply with the changes brought to these GTCs. If necessary, we reserve the right to suspend access to this Application or close it for an indeterminate period.

2. Rights over Application

2.1    Ownership of Application. The Application and all the rights related thereto shall be and remain RED’s property. The provisions of these GTCs and the use of the Application by the User shall not confer or grant the User any right over the Application or any right related thereto, except for a limited right of use, subject to the restrictions set forth under Art. 2.2.

2.2    The right to use the Application. Pursuant to these GTCs, subject to User’s meeting the obligations incumbent upon them under these GTCs, RED grants the Users a limited, non-exclusive right of use (license) that may be not sub-licensed or transferred and which may at all times be revoked by RED, in order to access and use the application on User’s personal device. To access and use the Application, User must strictly observe the following restrictions. Thus, they shall not:

2.2.1    reproduce, amend, make derivative works, distribute, license, lease, sell, re-sell, transfer, publicly display, publicly represent, send, make a streaming, broadcast or otherwise exploit the application;

2.2.2    decompile, reconstruct through reverse engineering or disassemble the application;

2.2.3    make links, mirrors or frames to any portion of the Application;

2.2.4    cause or launch programs or scripts that scrape, index, analyze, or perform any data extraction operations from any portion of the Application or which hamper or prevent in any respect the operation and/or functionality of the Application;

2.2.5    attempt to obtain unauthorized access to or affect any aspect of the Application or of the systems or networks connected thereto;

2.2.6    remove copyright marks, trademarks or other proprietary markings from any document issued by RED or from any portion of the Application.

2.3    IP Claims: During the contractual relationship, the User will notify RED, as soon as possible, about: (a) any actual or suspected infringement by any third party of the intellectual property rights in connection with the license granted; (b) any threat, accusation or claim of infringement of the intellectual property rights of any third party with respect to User’s use of the Application under the granted license; (c) any procedure initiated by any third party that questions the ownership, validity or registration of the Application; (each “IP Claim”). In the event that an IP Claim totally or partially affects the functionality of the Application, the Parties shall negotiate to what extent it is necessary to terminate these GTC.

3. Nature and Accuracy of Information provided through the Application

RED shall take all the measures to ensure that the information posted in the Application is updated, actual and accurate. Although the Application is also available to users from other countries, the posted information is only valid on Romania’s territory.

Neither RED nor any other party involved in the creation and functioning of the Application shall be liable for any error, prejudice (whether direct or indirect), loss of data or content error or for shortcomings of the Application, which can directly or indirectly or incidentally occur through the use of the Application.

You agree that all GTC, agreements, notices, disclosures, and other communications that RED provides to you electronically satisfy any legal requirement that such communications would satisfy if it were be in a hardcopy writing.

4. Access to and Use of Application

The Application offers a 24/7 accessibility, except during maintenance and reconstruction operations.  RED assumes no responsibility for delays in or impossibility to access/ use the Application.

In this respect,the User agrees that (i) in technical terms, it is impossible for the Application to avoid errors and RED may not be held liable in this respect, (ii) errors may cause the temporary unavailability of the Application and that (iii) the Application’s operation may be adversely influenced by circumstances beyond RED’s control such as, for instance, transmission and telecommunication connections between you and other systems and networks. 

RED and/or its proxies may at all times change or discontinue, temporarily or permanently, access to a part of the Application in order to carry on maintenance and/or upgrading and/ works or bring changes thereto. RED shall not be liable for changing, suspending or discontinuing access to the Application.

It is forbidden to use the Application for the purpose of loading, downloading, publishing or conveying any information whose content is illegal or immoral, disturbs in any way other individuals’ privacy, contains viruses, is contrary to accepted principles of morality or public order. RED shall not be liable for any prejudice caused by any type of communications from the categories mentioned above.  

Furthermore, it is forbidden to use the Application for the purpose of sending any kind of content that is threatening, false, misleading, abusive, harassing, defamatory, vulgar, obscene, scandalous, instigating, pornographic or profanatory, or any other kind of material that can represent or encourage a behavior that may give rise to a criminal offense, may lead to civil liability or otherwise breach the law.    

It is forbidden to use a fake e-mail addresses or unlawfully send electronic messages or any other communications in the name of another individual or legal entity or in the name of any other entity.  

RED may not be held liable for any loss, destruction or expenses that may arise from your and/or any third party’s accessing or using the Application.

5. Authentication and Accessing the Personal Account

For authentication purposes, the User will log-in with a certain e-mail address, which must be valid and used exclusively by the said User. Updating or changing the e-mail address will only be possible with the involvement of RED’s technical staff and/or administrator of the Application, in order to ensure protection and transability of the information related to a User’s personal account.

The User will use / receive a username and a password to securely access the Application from the mobile phone or from another similar electronic device and will thus have an active personal user account for the Application.

A User may only have one account. User may not authorize third persons to use their account. It is forbidden to assign or otherwise transfer the User’s account to another person. The User undertakes to comply with all the applicable laws when using the Application and may use it solely for lawful purposes.  

In order to access the Application or some of its resources, the User will be required to provide certain details or information. A prerequisite for the use of the Application is that all the information provided by the User should be correct, updated and complete. The User undertakes to inform RED about any change in their personal data provided in connection with the Application. If the information provided by the User is not correct, updated and complete, it may be that access to the Application will no longer be permitted. The User is informed that all the information provided to register and use the Application shall be governed by the Privacy Policy available here.

If you choose to or have a user identification code, a password or any other information as part of our security procedures, you must treat this information as confidential and must not disclose it to other third parties.   

We reserve the right to deactivate any user identification code or any password, whether chosen by or allocated to you, at any time, if in our opinion you have failed to comply with any of the provisions set forth under these GTCs. The User shall be solely responsible for all the activities performed by the User through the Application and shall be under the obligation to preserve at all times, with own means, the security and secrecy of the username and related password. You agree to promptly inform us once you have identified any disclosure or unauthorized use of the User’s identification code and/or password.

6. Functionalities offered by the Application to the User

A.     General functionalities

Please note that certain functionalities of the Application (such as trading, exchange, withdrawal) may be subject to certain fees or commissions payable to RED. Certain features of the Application may be initially provided without charge and subsequently be offered on a fee-for-service basis, or with a paid subscription, subject to updated GTCs which will be uploaded in the Application.

In general, all amounts, prices and numerical values ​​displayed in the Application are previously rounded according to the following rule: rounding up to 1 the fractions above 0.5 inclusive and rounding down to 0 the fractions under 0.5.

As such, regarding the numerical values ​​of fiat money (official money, issued by the government), as well as the numerical values ​​of the fungible tokens that are useful only in the Application (GTK, REO-G etc.), the rounding is done by reduction, when the last decimal considered is less than 5, and by increasing when the last decimal considered is greater than or equal to 5.

For example, USD 1.309 shall be rounded-up to USD 1.31, and USD 1.424 shall be rounded down to USD 1.42. Similar, the value of 5.34789 GTK shall be rounded-up to 5.3479 GTK, and the value of 3.14151 GTK shall be rounded down to 3.1415 GTK.

The User hereby declares that he/she understands that in some situations rounding operations can create losses (rounding down) or profit (rounding up), even if most of the time insignificant, as well as the fact that the number of decimals can vary depending on the coin type. The User expressly accepts these rounding operations and will not hold RED liable for any loss or profit arising from such rounding operations.

The Application may at certain points in time include a functionality that allows a User to chat with other Users and exchange information and documents (the “Chat”).

Please note that the Chat services are not provided by RED itself, but by contractual partners of RED. Therefore, RED does not undertake any liability in relation with the Chat services, which remain in the full and exclusive liability of the relevant third-party service providers.

For using the Chat, Users acknowledge and undertake the following:

  • Users are not permitted to transfer login data, usernames and/or password to other Users by way of the Chat. Each User is solely responsible for the proper protection and storage of their password and login credentials.
  • Users are not permitted to transfer any type of personal data to other Users by way of the Chat, including their own personal data. Moreover, Users are not permitted to upload any type of documents containing personal data on the Chat. Under no circumstances will RED be liable in any way for any security breach of personal data transmitted by the User on the Chat, or any loss or damage of any kind incurred as a result thereof.
  • Each User undertakes to use the Chat exclusively for its own purpose and in a manner consistent with the applicable legislation and these GTCs. Each User is fully responsible for any and all contents, phrases, and entries added to the Chat. To this extent, the Chapter 11 below (”User’s Feedback”) is fully applicable.
  • Each User is aware of the security risk and threats connected with electronic data transmission, including by way of the Chat.
  • Each User understands that by using the Chat, it may be exposed to information or documentation that might be offensive, harmful, inaccurate, deceptive or inappropriate. Under no circumstances will RED be liable in any way for any information or documentation transmitted or uploaded by other Users or any loss or damage of any kind incurred as a result thereof.
  • Users acknowledge their sole responsibility for and assume all risk arising from their use or reliance on the information and documentation available on the Chat.

RED is exclusively entitled to add, change, remove, and adapt the functionality, the use, subject matter, and the range of particular Chat services, including the software provided, its contents, and its nature; as well as to cease rendering the Chat services, at its sole discretion.

Details about the Application functionalities for User can be found in The User’s Guide that can be accessed here.

B.    Specific functionalities for Normal Users

6.1    Changing the Supplier (becoming a Consumer)

As a Normal User, you can view the energy supply offers in the “Energy Marketplace” Section, with the possibility to filter / sort / search and select a specific offer according to several criteria. In order to switch your energy supplier, you will have to fill in certain information, as well as to accept the General Terms and Conditions applicable to Consumer, available here;

6.2    Obtaining a report on your carbon footprint

RED gives you the opportunity to calculate your carbon footprint, based on information provided / supplemented by you on a number of elements, such as how you travel, energy and gas consumption, diet, the amount / number of products that you buy, country of residence etc. The personal data collected for this calculation will be processed in accordance with the RED Privacy Policy, available here.

Please note that the carbon footprint calculator uses conversion factors from different external, third-party sources and RED has taken reasonable measures to ensure the information provided is accurate, but cannot be held liable under any circumstances for any errors or omissions. The methodology of calculating your carbon footprint, as amended from time to time, is available in the User Guide.

Once the carbon footprint is calculated, you can choose how to offset emissions and support various projects that aim to reduce the carbon footprint only if you register as a Verified User / Trader and pay the price for offsetting. Availability of projects do change over time and RED cannot be held liable for such unavailability.

In the unlikely event that the particular project you have already paid the price for offsetting is no longer available, you will have the possibility to offset your carbon footprint through an alternative project. In the calculation of the quantitative measures required to offset your carbon emissions, various projects may use different estimation factors. RED shall not be liable in relation to any aspects arising from your relationship with the project’s coordinators from other projects.

6.3    Access to a Reward System

To the extent that the Application at some point includes a Reward System, you may request a bonus / reward for each new User registered in the Application as a result of your actions to recommend and promote the Application. RED reserves the right (i) to decide whether and when to implement a Rewards System, the amount of the bonus / reward and the technical and financial conditions of operating the Rewards System, (ii) the right to change the terms of the Rewards System at any time, and (iii) to cease operating the Reward System at any time. Information about the Reward System, if available, will be provided in the Application.

C.  Specific functionalities for Verified Users / Traders

In your capacity as a Verified User / Trader, in addition to the ones available to the Normal User, you have access to a number of additional functionalities offered by the Application, with access to a Green Tokens trading platform using MWAT tokens. MWAT tokens are digital tokens that do not represent monetary values or securities, electronic money, payment instruments or investment instruments under the Romanian legislation.

6.4    Obtaining Green Tokens

If you have been verified by RED in accordance with know your customer rules (KYC), you can apply for obtaining Green Tokens (GTK and/or REO-G, respectively).

In this regard, it will be necessary to upload identification documents and other supporting documents in the Application, documents such as (but not limited to) electricity bills or travel logs / proof of charging the electric car, which will contain your personal data. Personal data will be processed in accordance with RED Policy on the Protection of Personal Data, available here and will be made available to Validators.

After a Validator is verifying the data entered and analyzing its correctness, your request can be validated, in which case the corresponding Green Tokens will be automatically generated in your account. Additional information on obtaining Green Tokens are provided in the Application, as they can be updated in time by RED.

Please note that the analysis of your requests for Green Tokens involves the payment of a variable fee in MWAT, which is the sum of (i) a fixed component due to RED and (ii) a variable component related to the commission requested by the Validator.

6.5     Obtaining a Green Sustainability Certificate

For each request for a Green Sustainability Certificate, you must pay a fee in MWAT to validate the your request (according to the above) and you must keep in mind that you will lose from your account those Green Tokens (GTK or REO-G) related to the request.

Each Green Token (GTK or REO-G) can be used only once  to obtain the Green Sustainability Certificate in the Application.

When issuing the Green Sustainability Certificate, a PDF document, a unique link and / or a QR code for the Trader will be generated, which can be used in any way, such as posted on the website, on social networks or on product labels etc.

Each Green Sustainability Certificate will have a unique series and will contain, among other things, information about your carbon footprint, the number of related Green Tokens, the amount of CO2 avoided etc.

6.6     Possibility of Staking MWAT tokens

Staking represents the action of temporarily blocking / making unavailable in the account of a Trader a number of MWAT tokens, which allows in counterpart the access to certain functionalities of the Application.

The standard Staking period is 12 months, during which the unavailable MWAT tokens cannot be unlocked. The standard period may be renewed at any time by additional 12 months.

MWAT in Staking will be highlighted separately in the ECF Fund, as well as in the account of the Trader in the Application, together with the rights related to those MWAT, respectively:

  1. Allocation of GTK storage space
    Each 1 MWAT in Staking allows 1 GTK to be stored in Trader’s account in the Application.
  2. Allocation of REO-G storage space
    Each 1 MWAT in Staking allows the storage of 1 REO-G in Trader’s account in the Application.
  3. Storage space occupied by having either REOG or GTK is common to the MWAT staking, meaning that
    Each 1 MWAT in Staking allows the storage of 1 REO-G or 1 GTK in Trader’s account in the Application, not both simultaneously for the same 1 MWAT.

6.7    Additional services provided by third party providers

As a Trader, you also have access to the following additional services:

  1. managing your digital wallets (deposit / withdrawal);
  2. exchange the MWAT tokens (or cryptocurrencies) that you have in fiat currency (official, government-issued currency);
  3. directly buy MWAT tokens (or cryptocurrencies) using fiat currency.

Such additional services are not provided by RED itself but by contractual partners of RED authorized to provide services for managing digital wallets and processing payments between cryptographic assets (tokens) / cryptocurrencies and fiat currencies.

There are two available payment methods related to fiat currency, namely (i) credit or debit card (Visa & Mastercard) or (ii) SEPA Bank Wire Transfer.

Please note that MWAT tokens (or other tokens) held may be subject to legal restrictions and transfer procedures and/or availability restrictions at some point. Your possibility to convert MWAT tokens (or other tokens) into fiat currencies may also be subject to legal restrictions and regulatory procedures at some point. There is also a risk that you will not be able to convert MWAT tokens (or other tokens) into fiat currencies at the time or price you want, as there is no predictable stability regarding their liquidity.

For the avoidance of any doubt, RED does not offer itself and is not authorized as a provider of the services in this clause ‎6.7., including services for managing digital wallets and processing payments between cryptocurrencies / tokens and fiat currencies. RED undertakes no obligation and assumes no liability in connection with such additional services which remain in the full and exclusive liability of the relevant third-party service providers. As such, you are highly encouraged to carefully read the terms and conditions and all related policies made available by the relevant provider of services in connection with the services in question. 

6.8     Choosing another role within the Application

Among other things, as a Trader, you may choose to become another type of platform user, in which case in addition to these GTCs, the following shall also be applicable as the case may be:

  1. General Terms and Conditions applicable to  Franchise User, available here;
  2. General Terms and Conditions applicable to  Producer, available here;
  3. General Terms and Conditions applicable to  Supplier, available here;
  4. General Terms and Conditions applicable to  Validator, available here;

For the avoidance of any doubt, the inclusion in any other role category and the conclusion of the related terms and conditions shall be without prejudice to RED’s rights and obligations, including RED’s limitations of liability under these GTCs.

7. Promotional Content

Any promotional content offered through the Application shall be provided in accordance with the applicable law.

From the perspective of the legal framework concerning the protection of personal data, RED shall send you commercial communications through the Application, by e-mail or by any other method that uses electronic communications services intended for the public, only if you have previously expressed your consent to receive such communications.

Notwithstanding the above, considering that RED obtained your e-mail address when you created an account and started using the Application, it shall be able to use your e-mail address for sending commercial communications regarding the rest of the existing functionalities in the Application. In this situation, you will be able to oppose by simple and free means whenever you receive such commercial communications  opting in and out through platform settings.

For the purpose of using the Application, you agree that any issues you may encounter regarding the promotional content will be first addressed to RED, for an amicable settlement.

RED shall not be liable for any financial loss or damage due to the promotional content provided or for any failure or inability to use that promotional content, for any reason whatsoever.

8. Access to Network and Devices 

The User shall be solely responsible for obtaining access to the data network necessary to use the Application. The transfer of data and messages may be subject to the tariffs and prices charged by the mobile network to which the User has subscribed, to the extent that User accesses or uses the Application from a device that allows for wireless communication, and it is User’s exclusive responsibility to pay these tariffs and prices.   

The user shall be solely responsible for procuring and updating the hardware equipment or the devices required for accessing and using the Application, as well as for procuring any updates thereof. 

For the avoidance of any doubt, RED does not guarantee that the Application or any of its functionalities will be functional on a certain hardware equipment or on a certain device. Moreover, the User acknowledges and accepts that the Application may be affected by malfunctions and inherent delays in the use of Internet or electronic communications for which RED assumes no responsibility.

9. Personal Data Protection

The use of the Application and of the available services under these GTCs involves the processing of users’ personal data. RED processes personal data in line with Regulation (EU) 2016/679 of the European Parliament and of the Council of 27 April 2016 on the protection of natural persons with regard to the processing of personal data and on the free movement of such data, and repealing Directive 95/46/EC and with RED’s Privacy Policy available here.

10. Cookies Policy

The Application uses cookies. For detailed information on the use of cookies, please read the Cookies Policy available here.

11. User’ Feedback 

RED may, at its sole discretion, allow User to regularly send, load or provide to RED, through the Application, content and information in text format, including comments and opinions about the Application, the mechanism presented in these GTCs or about other users („Feedback”). 

The entire Feedback will remain User’s property. However, by providing content to RED, the User grants RED a worldwide valid,  perpetual, irrevocable, transferable, royalty-free license, with a sub-licensing right, to use, copy, amend, create derivative works, distribute, publicly display, publicly represent and exploit in any manner whatsoever the Feedback in question, in all formats and on all distribution channels currently known or to be created in the future, without the User’s prior information or approval and without any payment being due to the User or another person, opting in and out through platform settings, opting in and out through platform settings.

The User represents and warrants as follows: 

11.1    The User is either the sole and exclusive owner of the entire Feedback, or it holds all the rights, licenses, permits and authorizations necessary to grant RED a license for the Feedback; and 

11.2    neither the Feedback, nor the transmission, loading, publication or provision by the User of such Feedback or the use by RED of the Feedback in question shall be deemed as a breach, unlawful appropriation or violation of a third party’s ownership rights or intellectual property rights, or a third party’s publicity or confidentiality rights, nor will it entail the breach of any applicable law or regulation.

11.3    the User undertakes not to send any Feedback that is derogatory, defamatory, hate inciting, violent, obscene, pornographic, illegal or offending, as may be decided by RED at its own discretion. RED has the possibility but not the obligation to examine, monitor or delete the Feedback, at RED’s exclusive discretion, at any time, regardless of cause, with no notification or any other information whatsoever of the User being necessary for this purpose.

12. Representations and Warranties of RED

The User expressly acknowledges that it is a party to these GTCs in consideration of the following representations and warranties made by RED in connection with its own business, as follows:

12.1    RED is a legally established company, lawfully operating under the Romanian laws, meeting all the legal corporate requirements to carry on its business;

12.2    RED holds all the legal authorizations to carry on its business pursuant to these GTCs and fully complies with all the requirements set forth under these authorizations;

12.3    RED meets all the legal requirements necessary to enter into and be a party in this contractual relationship, and the fulfilment of its obligations does not and will not result in, conflict with, or constitute a breach of, any term or condition or of any other provision set forth under a contract or any other document or legal act, of any nature whatsoever, to which RED is or is to be a party or to which  RED is subject under the Romanian legislation; 

12.4    RED has the required technical capacities and qualified staff to meet its obligations.

13. GTCs Duration. Termination

These GTCs shall be valid for the term of User’s access and use of Application. 

The User shall at all times be entitled to withdraw from GTCS, i.e. to close the Application account, without invoking any reason and without bearing other costs. The rights accruing to the holder of the rights in question until the withdrawal date shall be fully acknowledged. 

RED may promptly decide to terminate the contractual relationship with the User by denying at any time their access to the Application, if the User has breached any provisions of these GTCs, by simple notification and with no prior formality. Also, RED may at any time unilaterally terminate these GTCs with a prior 10-day notification. 

Once these GTCs are terminated, the remaining terms and conditions corresponding to any other role acquired through the Application shall also automatically terminate.

14. Exoneration

The Application is provided in “as is” condition and “depending on availability”. RED does not accept any of the representations and warranties, whether express, implicit or imposed by the law, which are not expressly set forth in these GTCs, including the implicit warranties about merchantability, vulnerability, adequacy for a certain purpose and non-breach of third parties’ rights. 

Moreover, RED does not make any representation or warranty about the reliability, punctuality, quality, adequacy or availability of the Application, neither does it represent or warrants that the Application or any related software will be free of any discontinuances or errors. 

RED does not guarantee the quality, adequacy, safety or capacity of third-party Suppliers.  

The User acknowledges and accepts that the entire risk arising from User’s use of the Application shall be fully incumbent on User, to the maximum extent permitted by the applicable legislation.

15. Limitation of RED’s liability

RED shall not be liable for any indirect, future, special, illustrative, punitive or other damages, including for the loss of profit, for any prejudice associated to or which otherwise arises from any use of the Application. 

RED shall not be liable for any prejudice, damages or loss arising from: 

15.1    User’s using or relying on the Application, or from User’s incapacity or inability to access or use the Application; or 

15.2    any transaction or relationship between the User and any other third party, even if RED has been informed about the potential occurrence of such prejudice; or

15.3    User’s failure to comply with any instructions or recommendations sent by RED through the Application or in any other manner.

RED does not assume any liability and is not responsible for the availability, conformity or accuracy of any additional services which are offered through the Application by third parties service providers or for the published content, products and services provided by such third parties. 

All links to third parties’ websites or resources made available on the Application do not constitute an endorsement, recommendation or warranty of the published content, products and services provided by such third parties.

RED does not assume any liability in relation with the third parties’ services, which are governed by other terms and conditions and other policies, including privacy and cookies policies.

RED shall not be liable for any delayed functioning or non-functioning of the Application that is generated by causes beyond the reasonable control of RED, such as but not limited to:

  1. unavailability of mobile phone networks; 
  2. User’s use of functionalities that are not provided by RED; 
  3. services and quality of services provided to User by third parties; and/or
  4. other circumstances provided by the law.

RED shall not be liable for access to the Application from countries whose laws prohibit or restrict or limit the access to and/or the use of a green tokens trading platform according to the model proposed by the Application. Also, RED shall have no responsibility for the access to the Application from countries whose laws prohibit or restrict or limit any aspect of the Application’s content, including any of its functionalities. The Users who choose to access this Application from other countries will do so on their own initiative, on their own responsibility and shall be solely responsible for complying with the applicable laws.   

Without any prejudice to the generality of the above, insofar as the Green Tokens, MWAT or other tokens or cryptocurrencies (the latter also subject to the conditions of relevant third party service providers) acquired and/or traded by the User are concerned, RED shall have no liability whatsoever, whether express and/or implicit, including but not limited to the representations, warranties or terms of use, the accuracy, timeliness, completeness and / or adequacy of Green Tokens, MWAT or other tokens or cryptocurrencies (the latter also subject to the conditions of relevant third party service providers). The Users who choose to acquire and/or trade Green Tokens, MWAT or other tokens or cryptocurrencies (the latter also subject to the conditions of relevant third party service providers), will do so on their own initiative, on their own responsibility, and shall be solely responsible for any breaches that may arise from the acquisition and/or trading of the same. 

RED shall under no circumstances be liable and regardless of whether the prejudice is reasonably predictable, for, including but not limited to:

  1. the information provided in the Green Sustainability Certificate issued through the Application, respectively those attesting the number of GTK or REO-G held;
  2. the decision of the Validators to grant, request additional information or not to grant you the obtaining of Green Tokens or Green Sustainability Certificate;
  3. any damage or loss suffered as a result of burning / losing of the number of Green Tokens (GTK or REO-G) related to the request for a Green Sustainability Certificate;
  4. any damage or loss suffered as a result of the unavailability / blocking of MWAT tokens related to Staking;
  5. information on the live prices of Green Tokens, MWAT and other tokens or cryptocurrencies that can be viewed through the Application; 
  6. the general risk posed by trading on the platform made available and the risk posed by the selection of trading partners;
  7. availability or unavailability of Green Tokens, MWAT or other tokens or cryptocurrencies (the latter also subject to the conditions of relevant third-party service providers) at a certain point in time for acquisition, trading, exchange, Staking or other similar operations;
  8. any services related to the management of the digital wallet (storage / withdrawal / Staking) of Green Tokens, MWAT or other tokens or cryptocurrencies (the latter also subject to the conditions of relevant third-party service providers);
  9. collection, storage, trading of Green Tokens, MWAT or other tokens or cryptocurrencies (the latter also subject to the conditions of relevant third-party service providers) illegally or fraudulently obtained;
  10. any information about Green Tokens, MWAT or other tokens or cryptocurrencies (the latter also subject to the conditions of relevant third-party service providers), even if provided at the Trader’s express request;
  11. any damage or loss suffered as a result of the operation of the Reward System, including the establishment and granting of related bonuses / rewards;
  12. any damage or loss suffered as a result of the calculation of the carbon footprint and your decisions taken based on the information provided for this purpose;
  13. any action or omission by the trading partners;
  14. instructions received from User, regardless of whether they have acted or not based on such instructions;
  15. User’s decision to enter into a contractual relationship pursuant to these GTCs;
  16. User’s decision to use the functionalities provided through the Application;
  17. any delay, loss or prejudice of whatever nature suffered as a consequence of the services provided by any third-party service supplier or subcontractor hired by RED. Any complaints regarding the action or omission of any third-party services supplier or subcontractor shall be filed solely and directly against such party.
  18. any not finalized transactions, partially finalized transactions or delays in the processing of Trader’s transactions;
  19. lost profits, lost revenues, missed business opportunities, other intangible, punitive, special or incidental losses, regardless of whether they were direct or indirect, predictable or unpredictable and regardless of whether RED was informed or not about the potential occurrence of such losses;
  20. any loss occurring as a consequence of a requirement imposed by new laws or regulations or further to our obligations under the laws of any jurisdiction;
  21. compliance with any laws, rules and regulations from the User’s specific jurisdiction that may be applicable in connection with the use of the Application or its functionalities;
  22. any User’s resulting losses as a consequence of unauthorized access following the loss or theft of Application connection data and/or passwords.

To the maximum extent permitted by the applicable law, RED’s total liability to the User in connection with the Application and/or the fulfilment of its obligations for all the prejudices, losses and damages shall in no case exceed the value of the amounts paid by the User under these GTCs over a 3-month period preceding the event that triggered RED’s liability.

16. User’s Liability

The User undertakes to indemnify and exonerate RED and its shareholders, directors, officers, managers, employees and agents of any liability in the event of any indemnification claims, other claims, losses, damages and expenses (including lawyers’ fees)  generated by the User, which arise from or in connection with: 

16.1   the User’s use of the Application and/or any of its functionalities (including the Chat services);

16.2  User’s failure to comply with or the breach of any of the provisions under these GTCs;

16.3   the inadequate nature of the rights over the Feedback and/or its inadequate character; or

16.4   breach by the User of a third-party’s rights, including the Suppliers’ rights.

17. Parties’ Legal Status 

RED shall act in capacity of independent economic operator in connection with any aspect regarding the fulfilment of its obligations under these GTCs.

For the avoidance of any doubt, each of RED and the User acknowledges and accepts that neither the User nor RED acts, in relation to the other party or any (third) party that uses the Application, in capacity of official in charge, attorney, representative or in any other subordinated legal capacity. In particular, each party acknowledges and accepts that the other party may not legally or otherwise bind the other party in any way whatsoever.  

18. Notices

Notices between the parties may be addressed as follows: 

  • Support section inside the application

19. Schedules

These GTCs shall be supplemented with the following Schedules that are integral part thereof:

  1. Schedule 1– User’s Guide of RED Application

20. Governing law. Disputes

These GTCs shall be governed by and construed according to the Romanian legislation. 

Any disputes that cannot be amicably settled by the parties shall be referred to the Romanian courts of competent jurisdiction. 

21. Miscellaneous

The User undertakes to comply in all respects that arise from these GTCs and the User’s Guide with any applicable law and RED shall have no liability for any breach of the law by the User.

For the avoidance of any doubt, the User expressly acknowledges and accepts each and all the clauses and terms under these GTCs including but not limited to the provisions set forth under sections ‎1, ‎2, ‎3, ‎4, ‎5, ‎6, ‎7, ‎8, ‎10, ‎11, ‎12, ‎13, ‎14, ‎15, ‎16, ‎17, 20 and 21.