General Terms and Conditions & AML Policies

All subscribers of World Coin Ltd services agree to be bound by the terms of this service. The present website is provided by the World Coin Ltd Hereinafter called “Company” duly registered with Government of U.A.E as a Tax Free company providing service, Direct Marketing, Loyalty Program & Trading Gold and Investment Company. The use of the present website and the facilities provided acknowledges the acceptance and understanding of these General Terms and Conditions of company.

This World Coin trade mark may not be copied or used partially or as a whole without the Company's express written consent. Other trade marks appearing on this website may also be a property of the Company or of other owners and may require their explicit consent prior to their use.

Materials provided on the present website are for informational purposes and may be downloaded onto a single computer for personal non-commercial use only, provided that they are not modified in any way, incorporated in other work, or alter or remove any copyright notice of intellectual property. The above rights are non-exclusive license for use and do not constitute any transfer of rights and/or ownership. The said license may be terminated and/or revoked at any time at the Company’s sole discretion.

Regarding the distribution of our products and contact with others, it is of utmost importance to ensure a consistently friendly and secure experience for our clients marked by reliability and fair cooperation with each other and with the entire world of Direct marketing, while upholding the law and ethical principles.

We therefore ask you to read our General Terms and Conditions thoroughly and make these principles your guide in your day-to-day exercise of your activity.

Ethical rules for dealing with clients

• Our Independent Marketing Associate (Hereinafter Called IMAs) their referrals honestly and sincerely, clarifying any misunderstandings about goods, the business opportunity, or other statements made during consulting discussions & Presentations.
• When contacting a client, the IMA shall inform the client about all aspects of the product & Services (such as purpose, characteristics, or application) and also, if requested, concerning the potential for further sales.
• All information provided about the goods & Services must be comprehensive and truthful.
• An IMA may not make any claims, promises or other indications about potential speculative changes in exchange rates or Loyalty commissions.
• The client should not be led to purchase the products through dubious and/or misleading promises nor by promising special benefits when these are linked to uncertain future outcomes.
• IMA may not make any comments with respect to their compensation or the potential remuneration of other IMA. Furthermore, an IMA may not guarantee payments or otherwise raise expectations. The Company is responsible to pay Loyality Commissions and hold good financial standings.
• An IMA may not claim that the wcoins.com Global Loyalty Program or goods have been endorsed, approved, or supported by any government and/or agency.

• IMAs must always treat each other fairly and respectfully. The same also applies to dealing with partners in other network marketing companies.
• New IMAs should be informed truthfully about their rights and obligations. No information should be provided concerning potential revenue and earnings opportunities.
• No verbal assurances may be made by the IMAs regarding the World Coin  goods and services. The company itself guarantee the services paid and coins purchased.
• IMAs are not allowed to suggest that other IMAs change their sponsor within wcoins Network and ruin others loyalty commission.
• IMAs shall always be fair and honest in their conduct towards other Direct marketing companies as we can attract customers with better service and earnings.

• Disparaging, misleading, or unfair comparative statements about the goods or distribution s of other companies is prohibited.

General Terms

1 Scope of validity

(1) The following General Terms and Conditions are an integral part of every sales partnership agreement between the Company and customer, independent, self-employed IMA

(2) The Company provides its services solely on the basis of these General Terms and Conditions.

2 Subject of the General Terms and Conditions, equipment packages and additional services

(1) The Company is a Direct Marketing company and Crypto Gold Coins as per Permitted business by the UAE governament, exclusively providing to its members, Crypto Gold Coins, Storage, Wallets etc, including products and services provided to World Coin Ltd  by third parties, such as Crypto Gold Coins.

The IMA will receive a Loyalty Bonus for his/her loyalty program. This activity does not require IMA to incur any expenses, to accept delivery of a minimum quantity of goods, or to List new IMA. All Accounts of new customers are subject to a minimum fee.

(2) In addition, there is a possibility, but not the obligation refer new IMA. Upon obtaining the required qualification, IMAs receive a Loyalty Bonus for the realised sales and for the support they provide to those new IMAs. A Loyalty Bonus is expressly not paid for the mere Listment of new IMA, but for the value of the sales. The Loyalty Bonus and the manner in which it will be paid will be based on the plan in force at that time.

(3) IMAs are provided with an online back office for their activities free of charge; said back office will provide an up-to-date and comprehensive overview of their sales, Loyalty Bonuses, and their growth in client and referral figures. In addition, IMAs may, but are not required to, purchase various services, continuing education packages, etc., whereas the acceptance of additional specific for the services Terms and Conditions of use may be required and applicable.

3 General prerequisites

(1) Services may only be provided to legal entities, partnerships or individuals provided that they or their managers are entrepreneurs and are at least 18 years of age and are not present or former company’s employees or their respective spouse/lineal ascendants or descendants/affinity and collateral relatives up to forth degree. No Services may be provided to company staff.

(3) Any and all online forms and other Company’s official documents, placed on the WORLD COIN LOYALTY PROGRAM website constitute an integral part of the present General Terms and Conditions.

(4) Any changes to the IMAs’ personal data must be made immediately in the designated section of the Company’s back office.

(5) The Company reserves the right to refuse applications at its discretion, without any need to provide cause. The Company expressly provides notice at this time that no applications from potential partners in Iraq or Iran will be accepted.

(6) In the event of a breach of any obligation stipulated in Section 1 to 2 and 4 (2)

(7) As per UAE law the World Coin Ltd is Tax Free company and can not do business with UAE Residents, so we shall follow the rules and disabled any account opening and business from UAE in our web site, we have removed UAE country from Business List in our web site www.wcoins.com. There is VAT & Tax in UAE starting from January 2018 so we have acquired Tax Free Status by doing business with Non-UAE residents.

The Company shall be entitled to terminate the provision of services under the present General Terms and Conditions without notice and, if deemed necessary, demand the return of any Loyalty Bonuses that have already been paid out. In addition, the Company expressly reserves for such cases the right to seek further redress for damages.

4 The status of IMAs as entrepreneurs

(1) In this business relationship, the IMAs are acting as independent, autonomous entrepreneurs. They are not and can’t be treated as employees, sales representatives, or brokers of the Company. There are no requirements as to revenues, sales, minimum deliveries, etc. IMAs are not subject to any instructions from the Company, with the exception of their contractual obligations, and they bear the full entrepreneurial risks of their business activity, including the obligation to pay all their business costs and the wages of their employees, if any. The IMAs shall set up and operate their businesses in accordance with sound business principles, including the operation of their own offices or other workplaces appropriate for the conduct of business.

(2) As independent entrepreneurs, IMAs are personally responsible for compliance with the relevant legal provisions in their countries, including tax and social insurance requirements (e.g. registration for a VAT ID number, registration of their employees in the social insurance , obtaining business licenses if required). In this regard, IMAs warrant that that will comply with all tax and other payment obligations (such as customs duties or import taxes) such as may be required by the jurisdiction of their registered office concerning the Loyalty Bonuses earned from their activities. The Company reserves the right to deduct the respective amount for taxes and fees from the Loyalty Bonus and/or demand reimbursement for damage or expenses incurred by due to the IMA’s breach of the foregoing stipulations, in the event that the IMA is responsible for the same. IMAs are not paid any social insurance contributions or other taxes related to deliveries for IMA. The IMA is not authorized to make any statements or comments on behalf of the Company.

(3) The Company would like to point out expressly that the IMA’s success depends entirely on their personal commitment, abilities, and effort. Furthermore the Company does not guarantee or warrant any specific level of remuneration or other income from the mere participation in WORLD COIN LOYALTY PROGRAM LOYALTY PROGRAM and also does not provide a package of services that would result in such guaranteed remuneration.

5 Notice concerning the voluntary right of revocation

IMAs are registering in WORLD COIN LOYALTY PROGRAM as an entrepreneurs and as a clients and therefore do not have the statutory right to revoke the IMA Agreement. Nevertheless, IMAs are granted on a voluntarily basis the right to terminate his/her business relations with the Company and rescind the IMA Agreement within two weeks, from the date the application is submitted, according to the present General Terms and Conditions

Consequences of cancelation

If the IMA terminates his/her business relations with the Company and the IMA Agreement is canceled, any benefits, payments, and/or services received by either party must be returned according the refund- and cancellation policy stated under § 16 (8) and (9) to the other, together with any benefits derived from the same. At this time, we expressly indicate that the services are considered to have been used once the IMA has accessed the services electronically. If IMA cannot return the services received either in full or in part, or can only return them in a condition worse than that in which they were received, the IMA must reimburse for the loss in value. All payment refunds must be made within 30 days. For the IMA, the period begins when the IMA send his/her revocation notice, and for the Company upon receipt of the same.

An IMA may re-register with WORLD COIN LOYALTY PROGRAM, provided that said cancelation was more than 12 months earlier and that the IMA has not since performed any activities for WORLD COIN LOYALTY PROGRAM in the interim.

6 Administrative, support, and handling charges / Delivery of Products

(1) By applying for and being approved, IMAs obtain the right to use the back office provided to them. This is a simple, non-transferable right to use the specific web-based back office. IMAs have no right to modify, edit, or otherwise reorganize the back office nor may they grant sub licenses to the same.

(2) The IMA agrees that the ownership of the Package purchased, together with all supplied to it accessories and/or supplement products transfers to him upon the activation of the packages available for use at his/her personal back-office space provided. The said means that the risk of loss and title for such items pass to the IMA, at the time they become available for him/her and the IMA hereby confirms that he/she will be considered as having broken the seal (started using the product) of the products by logging in to his/her WORLD COIN LOYALTY PROGRAM back-office space and/or accessing the product storage of his/her back office.

(3) The IMA hereby agrees that he/she understands and accepts that the Company is not liable for any delivery delay or loss of product or subsequent losses resulting from such delays if not caused with negligence by the Company.

(4) For any product that is to be provided to the IMA in an electronic format, he/she agrees that delivery of such product shall be deemed to have occurred at the time the purchased product is available for usage and/or viewing at the WORLD COIN LOYALTY PROGRAM website.

7 IMAs’ direct marketing and other general obligations

(1) IMAs are obligated to protect their personal passwords and user names from third parties. The Company bears no responsibility for any actions undertaken by a person other than the IMA using his/her user name and password. Should an IMA willingly provide their user ID and/or password to an unauthorized under the Company’s T&C person/party the relevant profiles/accounts will be suspended and/ or terminated.

Each IMA can own multiple account.

World Coin Loyalty Program Ltd takes no responsibility for multiple identity behind a single account registration. The company recognize only one account per one approved KYC submission and approval, meaning a single account represent one sole physical owner.

Еach IMA can own multiple accounts but each require KYC. This however does not prevent/impede the IMA to administer additional accounts, of other IMAs, as long as the administration is performed according to the Company's T&C and all other and relevant regulations and internal to the company rules applicable. IMAs are prohibited from harming the rights of or harassing the Company, its other partners, its affiliated companies, or other third parties in the course of their activities; they are prohibited from violating any other applicable laws. Furthermore, IMAs are not permitted to make false or misleading statements about the Company’s products. In the course of their sales activities and structural work, IMAs will only make such statements about the goods offered by and the WORLD COIN sales  as correspond to the content of WORLD COIN direct marketing and informational materials. Further misconduct or the Loyalty Bonus of illegal activities, such as the use of unauthorized or unfair advertising practices (such as misleading statements) is prohibited.

(2) IMAs may not disclose any information about their income or the earning opportunities provided by their participation in WORLD COIN LOYALTY PROGRAM in any of their promotional materials. IMAs are instead expressly required to inform potential partnership applicants that only very few partners can achieve higher incomes with their WORLD COIN LOYALTY PROGRAM and that such incomes are only possible through very intensive, continuous effort.

(3) IMAs may use, produce or disseminate their own sales documents, websites, product brochures, promotion videos, or other self-generated online or offline media and advertising materials only in accordance with the contractual requirements and current legislation. In addition, they are allowed to only work with the official WORLD COIN LOYALTY PROGRAM advertising claims. The aforementioned also applies to advertising WORLD COIN LOYALTY PROGRAM  and products on their own or external websites. In the event that IMA promotes the WORLD COIN LOYALTY PROGRAM  and products in other online media such as social networks (e.g. Facebook), blogs or chat rooms, they must always only use official and approved advertising messages. Furthermore, when using other online media, IMA must explicitly indicate that it is not an official WORLD COIN LOYALTY PROGRAM advertisement or online presence of the Company, but independently developed by the IMAs advertising of their business activity. Unless otherwise specified in the present T&C, in the IMA Agreement or in another legally binding the IMA and the Company document, IMA is not allowed to promote, organize or in any other way participate in an activity involving acceptance of WorldCoin  by merchants as a mean of payment without prior express written consent of the Company and provided that all the applicable Company’s requirements, policies and procedures are met, including regarding CDD (Customer due diligence).

(4) WORLD COIN LOYALTY PROGRAM  and products may be presented face-to-face at home-based parties or other events, online parties, webinars or other online presentations, only in compliance with the Company’s advertising policies and in compliance with the relevant Copyright legislation. The IMAs agree and accept that it is expressly indicated hereto, that the Company is not responsible and cannot be held liable for any advertising materials disseminated by the IMAs and any established violations of OUR Rules, the present General Terms and Conditions and all other legally related official documents, shall be subject of sanctions, including immediate suspension of the IMA’s account for the period of 14 days and/or imposition of a fine.

(5) The services may not be offered at auctions, public or private online flea markets, swap networks, online department stores, online markets such as eBay, Amazon or comparable venues. Advertising in electronic media and mass media is only conditionally allowed. IMAs may advertise WORLD COIN LOYALTY PROGRAM  and products and services on TV, cable TV, radio, newspapers, email or other forms of electronic media or mass media only with the Company’s prior written consent.

(6) IMAs are required to identify themselves as Independent Marketing Associates in all of their business dealings. As a rule, all websites, stationery, business cards, car labels, advertisements, promotional materials and the like shall include the words Independent Marketing Associates of WORLD COIN LOYALTY PROGRAM. IMAs are also prohibited from applying for or taking out loans, incurring expenses, making commitments, opening bank accounts or entering into any other contracts on behalf of, in the interest of or in the name of the Company.

(7) All travel costs, expenses, office expenses, telephone charges and other expenses for advertising materials are the IMAs’ responsibility.

(8) In the course of their business activities, IMAs are not authorized to make negative, disparaging or otherwise unlawful comments or assessments about competing or other third-party companies, brands, logos or other trademarks.

(9) All presentations, advertising materials, training and film materials etc. (including photographs) used in and for the purposes of WORLD COIN LOYALTY PROGRAM are protected by copyright. IMAs may not copy, distribute, disclose, or otherwise modify the content either in whole or in part in any way that goes beyond the usage already granted contractually without the express written consent of the official owners of those trademarks.

(10) The use (or modification) of the WORLD COIN LOYALTY PROGRAM and other registered labels, registered trademarks, product names, titles of works or trade names beyond the scope of the advertising materials and other official documents already provided requires the express written consent of the Company, which it may grant or withhold solely at its discretion. IMAs are further prohibited from registering their own trademarks, titles, websites or other intellectual property rights that contain the Company’s logo, the WORLD COIN LOYALTY PROGRAM logo, trademark, product names, titles, or trade names of the Company in any other country. The aforementioned prohibition applies to both identical and similar signs and the use of the aforementioned character in subdomains or other subcategories of the URL. The repackaging and relabeling of WORLD COIN LOYALTY PROGRAM products is also prohibited.

(11) IMAs are not allowed to respond to press enquiries concerning the Company, WORLD COIN LOYALTY PROGRAM , its services, its marketing plan, or any other matter related to the Company, its activity and other services. The IMA is obliged to immediately forward all press enquiries to the Company.In addition, IMAs will only make public statements (such as on television, radio or online forums) concerning THE COMPANY, its range of products, and the WORLD COIN LOYALTY PROGRAM sales  after obtaining the written consent of THE COMPANY. At this time it is expressly hereby stated that any media or other public statements of IMAs are not and will not be considered as official statements about WORLD COIN LOYALTY PROGRAM  or Company’s products or services.

(12) The IMA will notify the Company of the location, time and content of promotional events designed to appeal to the general public in advance of issuing invitations to such events. The Company may at its sole discretion require changes or even the cancellation of such events

(13) Inquiries or complaints of any kind concerning the goods, service, or the compensation are to be forwarded immediately to the Company.

(14) Re-selling of Products at a discount price is strictly prohibited and against the Company’s policy. You can resell products only to your own referrals. Violation of this policy leads to this that your money will not be returned.

(15) IMAs may only market WORLD COIN LOYALTY PROGRAM  and services or List new IMAs in those states and countries officially authorized by the Company.

(16) IMAs are always prohibited from selling their own marketing and/or sales documents to other IMAs or from otherwise distributing them.

(17) The use of premium rate telephone numbers to market WORLD COIN LOYALTY PROGRAM  and products is not permitted.

(18) IMAs must notify the Company immediately and truthfully of any violations of the General Terms and Conditions and the WORLD COIN LOYALTY PROGRAM Ethical Rules or of any other provisions of the Company.

(19) IMAs are allowed to acquire goods for their personal use or that of their family members or for further resale. Under no circumstances should IMAs initiate the purchase of products in large quantities for their own, any family member’s or other IMA’s consumption, which inappropriately exceed the normal requirements and require additional KYC and information as per UAE central Bank Laws.

(20) In addition, IMAs are prohibited from sending unsolicited (spam) advertising emails, faxes or SMS messages.

ANTI-SPAM POLICY

The abuse and misuse of email by an IMA is a serious problem. The Company will not tolerate SPAM.

Definition of UCE (Unsolicited Commercial email), or SPAM:

• The bulk UCE, promotional material, or other forms of solicitation sent via email that advertise any IP address belonging to the Company or any URL (domain) that is linked to www.wcoins.com and / or other web sites owned or operated by The Company.
• The use of web pages set up on ISPs (Internet Service Providers) that allow SPAM (also known as “ghost sites”) that directly or indirectly reference clients to domains or IP addresses linked by www.wcoins.com and / or other web sites owned or operated by the Company.
• Advertising, transmitting, or otherwise making available any software, program, product, or service that is designed to facilitate a means to SPAM.
• Forging or misrepresenting message headers, whether in whole or in part, to mask the true origin of the message.

Repercussions of SPAM:

Across the Web, it is generally accepted that SPAM is an inconsiderate and improper business practice. SPAM is not only harmful because of its negative impact on client’s attitudes toward the Company, but it can also overload the Company, resources and other services.

Our Providers:

Since it is unsolicited, users who receive SPAM often become angry and send complaints to our service providers. It can cause negative client attitudes and drain resources. The Company strives to maintain favorable business relationships in the Web community and obviously will not allow any practice that threatens these relationships.

Consequences for use of SPAM:

The Company reserves the right to terminate, without warning, any IMA that violates this policy. Usage of the WORLD COIN LOYALTY PROGRAM  and services constitutes acceptance and understanding of this policy. The Company reserves the right to decide what it considers “SPAM”, “UCE”, “mail bombing”, or “bulk email”, and to determine from all of the evidence whether or not the email recipients were from an “opt-in” email list.

If an IMA or an IMA’s Web site is mentioned in a SPAM complaint, said IMA may be subject to immediate termination.

The Company will not allow the actions of a spammer to compromise the WORLD COIN LOYALTY PROGRAM’S IMA community. The following actions against a violating IMA shall be applicable:

• Termination of position and Web site immediately without a refund of any kind;
• Forfeit use of all services and products of the Company;
• Face a possible fine of $500;
• The violating IMA exposes himself/herself to all civil and criminal liabilities in the jurisdictions applicable.

Please Note: IMA must pay $250 to $500 to any of the Company’s service providers, partners or individuals for excessive SPAM complaints. If an IMA is the user who is violating the ANTI-SPAM POLICY resulting in the Company having to pay $250 to $500 penalty, the violating IMA WILL BE HELD RESPONSIBLE AND MUST PAY THE FINE.

The Company reserves the right to determine what violates it’s ANTI-SPAM POLICY.

This ANTI-SPAM POLICY and all other Company’s policies are from time to time subject to change without notice. Continued usage of the services after a change to this policy is implemented and posted on the WORLD COIN LOYALTY PROGRAM's website constitutes an IMA’s acceptance of such change or policy. The Company encourages all IMAs to regularly review and check the www.wcoins.com site for any changes or additions.

Furthermore the use of false headers in emails or falsifying, forging or altering the origin of any email in connection with the Company; WORLD COIN LOYALTY PROGRAM  and/or products is strictly prohibited.

If a person or entity indicates that they do not want to receive email, IMA agree not to send email to such person or entity. If a person initially agrees to receive email, but later asks to stop receiving email, IMA must abide by that request.

The Company also prohibits engaging in any of the foregoing activities by using the service of another provider, remailer service or otherwise.

8 Non-competition clause / Poaching / Sale of third-party services/ Conflict of interests

(1) IMAs are allowed to sell goods and/or services for other companies, including network marketing companies, to the extent that such are not competitors of the Company. If IMAs are simultaneously active for several companies or network marketing companies, they agree to organize their business activities (along with their respective referrals) in such a way as to avoid any connection or mixing of their activities for these other companies with their activities for WORLD COIN LOYALTY PROGRAM. In particular, IMAs may not offer products other than WORLD COIN LOYALTY PROGRAM products at the same time, in the same place or in the immediate vicinity or on the same website, Facebook page or other social media/online platform.

(2) IMAs are also prohibited from Listing other WORLD COIN LOYALTY PROGRAM IMAs for the sale of other Company’s products.

(3) IMAs are also prohibited from violating - by entering into another contract – the rights of other IMAs or other sales contracts concluded with further companies and the clauses of which are still valid.

9 Confidentiality

IMAs shall observe strict confidentiality regarding business and trade secrets of the Company and its structure. In particular, the trade secrets include information on referral activities and the information contained therein as well as data about third parties, partners of the Company or other IMAs. This obligation shall remain in effect even after the termination of the relationship between the Company and the IMA.

10 Protection of referrals  / Crossline sponsoring / Loyalty Bonus manipulation

(1) Every new IMA Listed by an active IMA to register as an IMA with WORLD COIN LOYALTY PROGRAM  or to sell its products will be assigned to that same Listing IMA (protection of referral partner) within its referral based on the time and date that the new IMAs' application was paid and received by the Company. If two IMAs claim to have sponsored the same new IMA, the new IMA will be assigned only to that Lister named in the new partner’s initial application.

(2) The Company is entitled to delete all personal data, including the email address of an IMA from the , if advertising mail, letters or emails are returned marked “moved”, “deceased”, “rejected”, “unknown” etc. and the IMA fails to correct the erroneous data within a reasonable grace period. If the Company incurs any costs for undeliverable advertising items and packages, it is entitled to recover said costs from the registering IMA, provided that they are responsible for such failure to deliver.

(3) In addition, cross-line sponsorship and any attempt to do the same within WORLD COIN LOYALTY PROGRAM  are prohibited. Cross-line sponsoring means the acquisition of a person or a company already an IMA in another WORLD COIN LOYALTY PROGRAM sales line or that has business relations with the Company within the last 12 months. Using the names of spouses, relatives, trade names, corporations, partnerships, trusts, or other third party names to circumvent this provision is also prohibited.

(4) Loyalty Bonus manipulation is prohibited. In particular, this includes the sponsoring of IMAs who are actually not involved in business activities with WORLD COIN LOYALTY PROGRAM (also known as shell vendors), as well as, open or concealed multiple registrations, to the extent that these are prohibited. The use of names of spouses, relatives, trade names, corporations, partnerships, trusts, or other third party names to circumvent this provision is also prohibited.

(5) IMAs may not attempt to protect any sales territory.

11 Warnings, contractual penalty, compensation, indemnity

(1) The first time IMAs are in breach of the obligations set forth in §7, they shall receive a written warning from the Company with a deadline of maximum 10 days to rectify the breach. IMAs agree to reimburse the Company for all costs incurred by such warnings and, in particular, any lawyers’ fees.

(2) It is hereby pointed out that §16(2) herein expressly gives the Company the right to an extraordinary termination of the IMA without warning for any breach of the obligations set forth in §§8, 9 and 10(3) or (4), as well as for a particularly serious breach of the obligations set forth in §7 or any other applicable contractual or other right set forth in the law. Notwithstanding the right to immediate extraordinary termination without notice set forth in §16(2), if the above-mentioned breaches of obligations occur, the Company reserves the right at its discretion to issue a warning as described in (1) above before any such extraordinary termination, even if this warning stipulates a shorter grace period for remedial action.

(3) If the provided grace period expires and the same or a fundamentally identical breach of obligations is committed, or if the originally protested breach is not remedied, a contractual penalty in the amount of $5,100 will become due for immediate payment. In addition to the contractual penalty itself, the IMA shall be responsible for reimbursing all attorneys’ fees associated with its collection.

(4) The contractual penalty notwithstanding, the IMA is also liable for any and all damages incurred by the Company through the breach of obligations as set forth in §§7-9 and §10 (3) and (4), unless the IMA is not responsible for the same.

(5) Upon first request, the IMA shall indemnify the Company against any and all claims by third parties arising from the IMA’s breach of obligations set forth in §§7-9 and §10 (3) and (4) or any other violation of applicable laws. In particular, IMAs agree to cover all costs, especially attorney's fees, court costs and damages incurred by the Company in addressing such matters.

12 Adjustment of prices

The Company reserves the right, particularly taking into account any changing market Gold Prices, to change the licensing structure and/or the prices to be paid by IMAs. Likewise, the Company reserves the right to change, and, in particular, increase, the shares in Loyalty Bonuses associated with its services, the Loyalty Program and usage fees at the beginning of each new billing period. IMAs will be given a reasonable advance notice of such changes. There is no requirement to notify the IMA of any changes that are known at the time of submission the application and such changes do not constitute grounds for future rejection of the same by the IMAs. If IMAs object to any change in these General Terms and Conditions, the Company is entitled to terminate the IMA Agreement as of the date on which the modified or amended General Terms and Conditions would come into effect once posted on our web site.

14 Remuneration / Payment terms / Loyalty Bonus payment methods / Prohibition on the assignment of payments

(1) As Loyalty Bonus for their activity and upon reaching the required qualifications, IMAs will receive Loyalty Bonuses which are paid out weekly and arise according to the respective qualification requirements in the WORLD COIN LOYALTY PROGRAM Global Loyalty Program. IMAs will examine the statements and notify the Company of any objections immediately. All claims for Loyalty Bonuses are based on the applicable Global Loyalty Program available to IMAs at any time in their back office.

(2) The Company reserves the right to require IMAs prove their identity before any Loyalty Bonuses are paid for the first time or services delivered. The Company may at its discretion require that the IMA’s identity be proved within 5 working days with a copy of their personal ID or passport, an excerpt from the commercial register, a VAT certificate, or that of some alternative TAX ID, potentially in conjunction with a recent electricity, gas water or other utility statement.

(3) IMAs will provide the Company with their tax ID and a copy of the confirmation letter from the responsible tax office immediately upon opting to pay VAT on their business activities or when their business volume exceeds the thresholds set for small business exemptions.

(4) Loyalty Bonuses and charges for the delivery of services of IMAs may only be paid to accounts held in their name or that of a partnership or legal entity in business relationship with WORLD COIN LOYALTY PROGRAM, unless otherwise expressly agreed.

(5) The Company is entitled to assert its right of retention in accordance with the law. In addition, the Company may exercise its retention right by withholding the payment of Loyalty Bonuses if any of the documents required by law, (such as the VAT identification number for legal entities, as requested and issued; and business registration etc.) have not been provided upon request before the first payment is due. If the Company exercises its right to withhold Loyalty Bonus payments, the parties hereby agree that the IMA shall not demand interest on the amount payable.

(6) If IMA lose their qualified IMA status, they forfeit all claims to Loyalty Bonuses from the time said status is lost. It is of course possible for the IMA to regain the respective qualification in the future again, but without reactivation of previous Loyalty Bonus claims.

(7) The Company is entitled to fully or partially offset its claims against IMAs against their Loyalty Bonus claims. IMAs are only entitled to offsets when counterclaims are undisputed or have been established by a court of law.

(8) IMAs may not assign or pledge claims arising from the IMAs agreements unless ordered by a court of law. The IMA Agreement may not be encumbered with the rights of third parties, unless ordered by a court of law.

(9) The Company must be notified in writing within five (5) working days (as of the date of the payment) of any incorrect Loyalty Bonuses or other payments. After this time, the Loyalty Bonuses or other payments shall be deemed as accepted and approved.

(8) Returns, Refunds Policy

The IMA may return purchased WORLD COIN LOYALTY PROGRAM products in the following circumstances (excluding personalized or customized items):

• The purchased package may only be refunded to the IMA in case he/she has not logged in for the period of 14 (fourteen) days from the date of submission the application and did not use any services, unless there is a mandatory term, stated by the applicable laws refunds will be made after the IMA has logged in to his/her account. By logging into his/her WORLD COIN LOYALTY PROGRAM account it is considered that the IMA is accepting the WORLD COIN LOYALTY PROGRAM General Terms and Conditions and no refunds of his payment shall be made.
• The IMA has the right to terminate his/her business relations with the Company and withdraw from the IMA Agreement only if he/she has not logged in to his/her account, started using the platform and gained access to the product.

The Company will process the return promptly upon verifying that the IMA is eligible for a refund. In most cases, the IMA should expect to receive the refund within 30 working days of receipt of the termination notification by the Company.

The IMA hereby confirms that he/she understands that the Company's return policy will NOT cover situations where the IMA has already received commission payouts, or other benefits, as a result of using the WORLD COIN LOYALTY PROGRAM's products/goods and/or services.

(9) Cancellations

All refund requests must be made within 07 days of registration. The return request will deactivate the initial order instructions and it will delete the IMA’s unique identification (user name) for the Package. This cancellation policy is designed to protect the Services .The IMA’s activation and position in the compensation  will be cancelled. Any commissions paid to returnee will be deducted from the refund amount.

Submit cancellations at support and please provide IMAs username, payment proof and date of purchase.

(10) Should an IMA claim services from the Company outside the scope of these General Terms and Conditions and of the IMA Agreement, these services will remain unaffected after the termination of said IMA Agreement, unless the IMA expressly requests their discontinuation in their termination notice. Should the IMA receive services from the Company after the termination of the IMA Agreement, they will be treated as a normal client.

17 Disclaimer

(1) The Company is NOT liable for damage to injury to life, limb or health if the damage results from the payment of Loyalty Bonuses by the Company as its given in good faith and generated by customers and IMAs itself, No Liability to its employees or agents. The Company is ONLY liable to damages resulting from the breach of obligations to deliver products. Any further liability for damages is excluded.

(2) The Company disclaims any liability for damage of any kind caused by data losses on computer servers, unless such losses are caused by gross negligence or intentional actions of the Company, its employees or agents. The Company treats any content stored on the servers by IMAs as third-party content in accordance with all relevant and applicable data protection legislation. The Company is not liable for any wrong data and/or information submitted by the IMA in the application. The Company is not responsible if incorrect usernames have been provided by IMAs.

(4) The Company is furthermore not responsible for any of its Independent Marketing Associates (IMAs) claims about income, team building or others. The Company has a ZERO tolerance when comes to unprofessional behavior that can in any way shape or form its business reputation. If an IMA encounter unprofessional behavior he/she must immediately notify the Company so that the appropriate actions against the said are taken timely.

18 Transfer of business operations or the sponsored structure to third parties / Death of the IMA

The Company can transfer its contractual position at any time to a successor company that will continue the business covered by these General Terms and Conditions and the IMA Agreement in the same manner and will fully assume the former company’s existing rights and obligations. The Company is entitled to use and uses the services of supporting partnering companies. The above mentioned companies are aimed to facilitate the provision of the services, including payments; technical and administrative operations of the Company. Those companies are independent separate entities, where the relevant to their place of registration laws shall be applied. The Company is not and shall not be held liable for any activities of those partnering companies, unless any occasional violations of the relevant and applicable legislations are caused by gross negligence or intentional actions of the Company, its employees or agents/partnering companies.

19 Separation / Dissolution

In the event that a married couple or life partners, a legal entity or partnership registered as IMAs terminate their association internally, there shall still be only one IMA position even after the separation, dissolution or other termination of the above-mentioned association. Those members/shareholders leaving the legal entity or partnership shall decide internally which member(s)/shareholder(s) shall continue the IMA Agreement and provide written notice of their decision to the Company. In the event of an internal dispute over the consequences of the separation, divorce, dissolution or other termination with respect to the participation in the WORLD COIN LOYALTY PROGRAM , the Company reserves the right of extraordinary termination, where such a dispute leads to a dereliction of the IMA’s duties, to a violation of these General Terms and Conditions, to a violation of the applicable laws or to an unreasonable burden on the referrals.

20 Inclusion of the Loyalty Program

(1) The WORLD COIN LOYALTY PROGRAM and the requirements contained therein are also explicitly part of the General Terms and Conditions and the IMA Agreement. The IMA must comply with the provisions contained in the current version of these General Terms and Conditions

(2) By submitting an online application to the Company, the IMAs warrant that they have read and understood the Loyalty Program and accept these documents as integral component of these General Terms and Conditions.

(3) The Company shall be entitled to change the Global Loyalty Program at any time. The Company will announce any general amendments within a reasonable period. The IMA has the right to object to the amendment. In case of an objection the IMA is entitled to terminate the IMA Agreement at the date of entry into force of the modification. In case he/she does not terminate the IMA Agreement within two weeks after the entry into force of the modification, the IMA expressly accepts the modification.

21 Consent to the usage of photographic and audiovisual material

The IMA grants the Company the right to freely collect and execute photographic and/or audiovisual material containing his/her picture, voice recordings, statements and citations within the scope of his/her function as an IMA. For this purpose, the IMA explicitly agrees to the publication, usage, duplication and modification of his/her citations, footages or records by signing the IMA application and notice ofthese General Terms and Conditions. The IMA shall be entitled to revoke the aforementioned consent. In case of a revocation, the Company will stop the foregoing usage within a one-month period.

22 Data protection

(1) In the following, you will find the the Company’s Data Protection Declaration.

(2) You can visit our website while remaining anonymous. In each case of a website visit, your Internet browser indeed transmits the following data to our web server: date and time of the website visit, the sender’s IP address, the requested resource, http-method and http User Agent header. However, our web server will store these data separately from other data; hence, it is not possible for us to allocate these data to a specific person. Following an anonymous analysis for statistical purposes, these data will be deleted immediately.

(3) The Company uses Cookies for being able to categorize requests and requirements of the interested party. By using cookies the Company will be enabled to measure the frequency of website visits and the general navigation. Cookies are small text files which are stored on your computer . Please note that some of these cookies are being transferred from our server to your computer  - these are usually so-called “session-cookies”. “Session--cookies" are characterized by the fact, that they will be automatically deleted from your hard drive at the end of the browser session. Other cookies will remain on your computer , thus enabling us to recognize your computer  during your next visit (so-called persistent cookies). You can, of course, reject cookies at any time, as far as your browser so permits. Please note, that specific functions of this website may eventually not or only be used with restrictions. This happens, if your browser is configured in a way not accepting cookies (of our website).

(4) The Company uses Google Analytics for being able to categorize requests and requirements of the interested party. Google Analytics applies so-called “cookies”, text files, which will be stored on your computer and allow analyzing your use of the website. The information created by the cookies referring to your visit of this website (including your IP-address) will be transferred to a server of Google in the USA and stored there. Google will use this information for analyzing your use of the website, for compiling reports on the website activities for the website-operators and for providing additional services related to website and internet usage. Furthermore, Google may eventually pass this information on to third parties, if this is required by law or if third parties will process these data on Google’s behalf. Google will never associate your IP-address with other data of Google. You may refuse the installation of cookies by selecting the appropriate settings on your browser software; however please note that if doing this way you may eventually not be able to make full use of all the functions of this website. By using this website you agree that the data collected by Google concerning your person may be processed in the manner and for the purpose described above.

(5) The Company uses so called social plugins (“plugins”) from the social network Facebook, which is operated by Facebook Inc., 1601 S. California Ave, Palo Alto, CA 94304, USA ("Facebook"). The plugins are marked with a Facebook logo or by the additional text “social plugin of Facebook” or “Facebook social plugin”. Here you can find an overview of the Facebook plugins and their appearance: http://developers.facebook.com/plugins.

If you access one site of our web presence containing such a plugin, your browser will establish a direct connection to the servers of Facebook. The plugin's content will be directly transmitted from Facebook to your browser, which will integrate it into the website.

By integrating the plugin, Facebook receives the information that your browser has accessed the respective page of our website, even if you do not have a Facebook account or if you are just not logged in to Facebook. This information (including your IP-address) will be directly transferred by your browser to a Facebook server in the USA and stored there.

If you are logged into Facebook, Facebook can directly allocate the visit to your Facebook account. If you interact with the plugins, such as by pressing the "Like" button or by making a comment, the corresponding information is also sent directly to a Facebook server and stored there. In addition, the information is also posted on Facebook and can be seen by your Facebook friends.

Facebook can use this information for the purposes of advertising, market research and appropriate design of Facebook pages. To this end, Facebook creates usage, interest and relationship profiles, e.g. for analyzing your usage of our website concerning superimposed advertisements on Facebook, to inform other Facebook user about your activities on our website and for providing other services relating to the use of Facebook.

If you do not wish Facebook to allocate the collected data concerning our web presence to your Facebook account, you have to log out from Facebook prior to visiting our website.

The purpose and scope of data collection, further processing and use of this data by Facebook as well as your relevant rights and the setting options aiming at the protection of your privacy can be found under Facebook’s data protection policy: http://www.facebook.com/policy.php.

(6) Note concerning the Google +1-button: By means of the Google +1-button you can globally publish information. Via the Google +1-button, you and other users will receive personalized information from Google and our partners. Google will store the information you have given for the content +1 as well as information about the site you have watched when clicking +1. Your +1 can be shown as indications together with your profile name and your photo in the context of Google services, such as displaying it in search results, in your Google profile or at other positions on websites and advertisements on the internet. Google records information about your +1-activities thus aiming at the improvement of Google services for you and other users. For being able to use the Google +1-button, you will need a globally visible, public Google profile which has to contain at least the name chosen for the profile. This name will be used with reference to all Google services. In some cases, this name may also replace another name you have been using for sharing content via your Google-account. The identity of your Google profile may be shown to users knowing your email-address or having other personally identifying information from you.

Use of the collected information: In addition to the above mentioned purposes, the information provided by you will be used according to the applicable data protection rules of Google. Google will eventually publish summary statistics on the +1-activities of the users or will pass them on to users and partners – such as publishers, advertisers or linked websites.

(7) On the the Company’s sites, functions of the service Twitter are integrated. These functions are offered by Twitter Inc., 795 Folsom St., Suite 600, San Francisco, CA 94107, USA. By using Twitter and the “retweet” function the visited by you websites will be linked to your Twitter account and communicated to other users. While doing so, data will also be transferred to Twitter. Please note that we - in our capacity as provider of the sites – are not receiving any information by Twitter about the transferred data’s content and its usage. Further information you will find in the Twitter Privacy Statement under http://twitter.com/privacy. Your Twitter data protection settings can be changed in the account settings under http://twitter.com/account/settings.

(8) Personal data will only be collected insofar, as the IMA will voluntarily submit them during the ordering or registration process. The Company will use these transmitted, personal data (e.g. title, name, address, email-address, telephone number, fax number, bank transfer data) without explicit, separate consent in accordance with the regulations of the relevant data protection laws and only for the purpose of IMA Agreement fulfilling.

(9) For the purpose of fulfilling the IMA Agreement, e.g. for the settlement accounting or payment of Loyalty Bonuses, for product or marketing information, the IMA’s personal data will be forwarded to third parties, for example the accounting department of an electronic payment platform – to the extent necessary for the fulfilment of the aforementioned, contractual obligations. After complete execution of the IMA Agreement, including full payment of the agreed remunerations, the IMA’s data will be deleted. Data, which have to be stored for tax or commercial reasons, will be blocked after implementation of the IMA Agreement, provided that the IMA has not given his/her explicit consent to a further use of his/her personal data.

(10) The IMA shall, at all times, be entitled to request free information about his/her data and that his/her personal data will be amended, blocked or deleted. If the IMA wishes to receive further information concerning the storage of his/her personal data or if the interested party wants the data to be deleted, blocked or amended, he/she can contact the support (support@wcoins.com)

(11) This Data Protection Declaration is accessible and retrievable on the WORLD COIN LOYALTY PROGRAM websites at any time.

23 Limitation period

Claims arising from this contractual relationship become time-barred after 6 months starting from the time the corresponding claim becomes due and the entitled person knows all the circumstances justifying his/her claim, or if his/her ignorance of the circumstances are due to gross negligence. Statutory provisions mandatorily prescribing a longer limitation period shall remain unaffected.

24 Dispute settlement

(1) The Parties will act to amicably resolve questions and differences concerning structure, interpretation and effects of these General Terms and Conditions and other related to the General Terms and Conditions questions or the subject-matter of the latter.

(2) Any dispute related to commercial and inter-companies matters shall be referred to and finally resolved by binding arbitration under the Arbitration Rules of which are deemed to be incorporated by reference into this clause, which shall include specifically:

(a) The number of arbitrators shall be three

(c) The language to be used in the arbitral proceedings shall be English. Any documentation not presented in English shall be translated into English at the expense of the party submitting them.

(3) Any disputes between the Company and its IMAs and clients, related to and in relation to these General Terms and Conditions and regarding to its existence, governance, validity or termination, shall be referred to and finally resolved by binding arbitration under the Arbitration Rules of the Arbitration Court , Chamber of Commerce and Industry.

25. Anti Money Laundering Policies

The UAE has enacted numerous laws at federal level to prevent and criminalize money laundering and the financing of terrorism.

Article 22 (7) of Rule No. 4 of 2002 Re. Organizing Operations at World Coin Ltd stipulates that any activities that violate the laws of the State including money laundering are prohibited. Under this law, World Coin Ltd is obligated to establish a set of policies and procedures to ensure that  neither its traders („Traders‟)  nor its subsidiaries facilitate money laundering and/or the financing of terrorist activities. These laws are more particularly set out in section 15.In this Policy reference has been made to the following legislation, directives and regulations .(collectively „the Regulations‟). In the event of any material change being effected to the Regulations following the date of this Policy coming into force, WCN shall make such amendments to the Policy as are necessary so as to ensure that the intent, spirit and letter of the Regulation is reflected in the Policy.

• UAE Federal Law No. 4 of 2002 Regarding Criminalization of Money Laundering
• UAE Federal Law No. 1 of 2004 on Combating Terrorism Offence
• UAE Federal Law No. 8 of 2004 regarding the Financial Free Zones
• Federal Law No. 4 of 2000 Regarding The Emirates Securities and Commodities Authority and Market
• ESCA regulation concerning procedures for Anti-Money Laundering
• DFSA RM08/2004
• FATF 40 AML and 9 CFT Recommendations
• IOSCO CIBO and AML Rules
• Basel Committee on Banking Supervision Recommendations

26 Final provisions

(1) The Company is entitled to change the General Terms and Conditions at any time, where modifications will be announced within a reasonable period. The IMA has the right to object to the amendment. In case of an objection, the IMA is entitled to terminate his/her relations with the Company at the date of entry into force of the modification. In case the IMA continue using the services and does not terminate his/her relations with the Company within two weeks after the entry into force of the modification, the IMA expressly accepts the modification.

(2) Furthermore, modifications and additions to these General Terms and Conditions are to be made in writing. This shall also apply to the revocation of the written form requirement.

(3) In case of invalidity or incompleteness of a clause of these General Terms and Conditions, the validity of the entire document shall not be affected. Instead of that, the invalid clause shall then be replaced by a valid one whose economic purpose comes as close as possible to that of the invalid clause. The same shall apply when covering a gap requiring regulation.

With the acceptance of the following General Terms and Conditions IMA declares and agrees that he/she fully understands and accepts the hereto stated rights and obligations, including all relevant and applicable internal rules, together with those described in the IMA Agreement and the Global Loyalty Program of WORLD COIN LTD.

Version of the General Terms and Conditions: 22.02.2018