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P2P Merchant Security Deposit Asset Management Agreement
2024-08-02 02:3217663
Below are the terms and conditions for managing the security deposits of bitget p2p merchants:
1. Purpose of the security deposit
To ensure the platform's stable growth and protect the legitimate rights and interests of both parties, Bitget requires P2P merchants who have passed identity verification and anti-money laundering checks to pay a security deposit. This deposit distinguishes verified merchants from regular users, allowing Bitget to provide better and faster services to merchants. However, if a merchant falsifies payment or receipt records, or attempts to retrieve funds improperly, Bitget's customer service will assess the situation based on facts and rules, record it in the merchant's credit information, and deduct the corresponding amount from the security deposit.
2. Deduction of security deposit
(1) If a merchant disputes a transaction and Bitget determines the merchant is at fault, the merchant must take responsibility and fulfill the necessary obligations. If the merchant fails to cooperate or fulfill these responsibilities within a reasonable timeframe, causing losses to other users, the security deposit will be deducted.
(2) If a merchant uses the platform for money laundering, illegal currency exchange arbitrage, malicious price manipulation, or any other illegal or criminal activities that violate Bitget's regulations, the security deposit will be deducted.
(3) If a merchant illegally provides third-party bank cards or trading accounts for others to use, or engages in fraud, money laundering, or other illegal activities that cause losses to the platform, related users, or third parties, the security deposit will be deducted.
(4) If a merchant's non-standard order is appealed for any reason and is awaiting resolution, the merchant must assume the responsibility determined by the platform's review. If the merchant cannot be contacted within a reasonable timeframe, Bitget will not be held responsible, and the security deposit will be deducted.
(5) If a merchant uses Bitget's brand to solicit competitors, charge intermediary fees, engage in false marketing, or make misleading associations that harm Bitget's rights or reputation, the security deposit will be deducted.
(6) If a merchant violates any other rules or regulations of the platform, the security deposit will be deducted.
(7) If a merchant's actions or inactions lead to the freezing of payment accounts and the merchant fails to report the security deposit to the platform as required, the security deposit will be deducted.
(8) Any other situations where Bitget reasonably determines that the security deposit should be deducted due to the merchant's fault.
Note: After Bitget deducts all or part of the security deposit according to the security deposit management regulations, the merchant must replenish the deducted amount. Otherwise, the merchant's status will be revoked, and a reapplication will be needed to regain merchant status.
3. Freezing of security deposit
(1) When a merchant submits an application, the system will verify and freeze the specified security deposit amount. Ensure you have sufficient funds in your spot account; otherwise, the application cannot be submitted. The security deposit remains frozen during the merchant's operation period.
(2) When there are changes to Bitget's security deposit regulations, the system will verify and prompt the merchant to replenish and freeze the corresponding security deposit. Ensure you have sufficient funds in your spot account; otherwise, you will not be able to replenish your security deposit. The security deposit remains frozen during the merchant's operation period.
4. Release of security deposit
When a merchant decides to leave the platform, the offboarding application will be reviewed by the staff within seven working days. If there are no disputes, the security deposit will be refunded. Merchants will not be able to publish advertisements during the review period. Bitget reserves the right to deduct part or all of the security deposit if the merchant engages in illegal activities, criminal acts, or other violations of Bitget's regulations.
5. Replenishment of security deposit
Due to market fluctuations and overall industry changes, Bitget has the right to adjust the required security deposit amount without prior notice. Merchants are required to promptly replenish the security deposit amount in accordance with the provisions of this agreement. Merchants will not be able to publish advertisements in the fiat currency zone until the security deposit is successfully replenished.
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