TREASURE TERMS OF SERVICE
THIS IS A BINDING LEGAL AGREEMENT, READ THOROUGHLY AND CAREFULLY BEFORE USING THE SERVICES PROVIDED ON OUR PLATFORM.
1. Treasure and its Services
1.1 What is Treasure/Treasure’s Services?
Treasure, a D/B/A of Tiquitas LLC (“Treasure”), is a website, mobile application, or other digital system (“Platform”) that allows those who Elect to use our Platform (“User/ s”) to collect, purchase, and sell ownership components (“Share/s”) of high valuable and/or historic items (“Collectible/s”), as well as list valuable and/or historic items (“Collectible/s”) and share ownership components with others (through “Co-Ownership”). Users may also use our site to show others items from their personal collection ("Display") and engage in feedback about Collectible and Display items (“Comment") as part of engaging in the Hobby of collecting. Additionally, Users may sell Collectibles that are not Co-Owned. These “Services” include these various Collectible and Display abilities listed above, as well as other tools and services provided by Treasure. We have made our Platform available to you subject to these Terms of Service (“Terms”), and our Privacy Policy (as defined and otherwise available on our site), Listing Agreements (as defined below), Custody Agreements (as defined below), and any other terms and conditions incorporated by reference. The FAQ available on our site and public outreach by Treasure such as social media and PR serve as insight into our platform and are not legally binding information or incorporated into these Terms.
1.2 Binding Agreement
These Terms serve as a binding legal Agreement between Treasure and its Users or visitors of our Platform, including but not limited to owners of Collectibles, Users and visitors exploring our Platform, and buyers and sellers of Collectibles and their Shares. Use of and access to our services are subject to the terms of this Agreement, as well as any applicable law. Read these Terms of Service carefully and thoughtfully as they contain important information regarding your obligations and rights, including duties, exclusions, limitations, and conditions that apply to you. These terms, and the accompanying Privacy Policy which is located on Treasure’s website and is incorporated into these terms, govern use of Treasure’s website, associated services, and tools.
1.3. Third Parties
Subject to the Terms of this Agreement, Treasure grants Users a terminable, limited, non-exclusive, non-transferable, nonsublicensable right to access and use our provided Services on an electronic device owned by the User. Per these Terms of Service, these Services DO NOT include Services provided by any third parties associated with our Service, such as financial transaction institutions(Stripe).
1.3a Third-Party Terms
To the extent to which Treasure incorporates a third party for purposes like financial transactions, Treasure is not liable for errors, changes in terms, or other issues that may arise pertaining to these third parties. Users are responsible for any additional terms, restrictions, or limitations applicable to third party software.
1.3b Incorporation of Third Party Services
User acknowledges that Treasure has the right to subcontract performance of its credit card and payment processing services, as well as other services, in which event the services levels provided by any third-party provider will be incorporated in these Terms by reference. Treasure is not responsible for errors, equipment defects, or lack of service caused by third-party services or equipment. User is responsible for any charges, data plan fees, or other responsibilities required by the Terms of any third party provider incorporated into Treasure’s Services.
1.4 Minors
In the use of our Platform, you are affirming that you are of the legal age of majority in your jurisdiction of residence to have the legal capacity to enter into these Terms of Service. You as a User accept and are bound by these Terms of Service and agree that your personal information will be dealt with in accordance with our Privacy Policy.
1.5 Who May Not Use Treasure?
You may not use our Platform if you do not agree to our Terms of Service, are not of the age of majority in your jurisdiction of residence, or are prohibited from accessing our Platform or any of the contents on our Platform, products or services by these Terms of Service or applicable law.
2. Changes to Terms of Use and Platform
2.1 Remedy in the Face of Changes to Terms
As our team continues to constantly innovate and improve our Platform for the best possible experience, updates or supplements may occur from time to time to our Terms or our Platform. Our team will post the revised or updated Terms and you as a User are bound by any revisions and should periodically visit these policies from time to time to review the then-current Terms. If you do not agree with any modifications, your exclusive remedy is to sell any shares and/or delist and remove any Collectible and/or Display items under these Terms, terminate your account and your use of our Platform.
2.2 Changes to Platform
You acknowledge that the nature of our Platform may change from time to time without prior notice to you (the User). We may add or terminate features or Users on our Platform as we in our sole discretion deem necessary. You agree that we are not liable for any modification or termination of the Platform or your account.
3. Access and Accounts
3.1 Access
Treasure is an internet Platform, and as such you must have the necessary equipment (such as a smartphone or computer), as well as access to the internet. Access to our Platform may become unavailable or slow down due to issues with our service providers, our/the Users’ internet, a system malfunction/maintenance, or a significant volume of Users. While we strive to provide you with uninterrupted service, you are aware that we do not represent that our Platform will be available without interruption nor will all orders be executed, accepted, recorded, remain open, or be granted.
3.2 Account Registration
You must create an account, and in doing so you agree to provide accurate, current, and complete information about yourself for our Platform. You are required to maintain and promptly update your account information as necessary. We have the right to reclaim your chosen Platform public identification name ("Username”) at our unfettered discretion without any liability to you. Your account is personal, and by creating one on our Platform, you acknowledge that your information and Collectibles are not transferrable from you to any other person or platform. All personal information associated with your account is collected, stored, and disclosed in accordance with our Terms and Privacy Policy.
3.3 Account Security
Users are solely responsible for the security of your account and information such as passwords, emails, Usernames, etc. You acknowledge that it is your responsibility to take the necessary steps to reduce the probability of unauthorized use. If a problem arises, failure to keep your account private may result in our proper resolution of the matter at our determination in our sole discretion. You understand that if you choose to provide personal information to other Users or permit other Users to provide your personal information, you have chosen to put that information in the public domain.
3.4 Proprietary Rights
User acknowledges Treasure’s proprietary rights in the Service and all associated documents and shall protect the proprietary nature of these accordingly. If a User suggests any new features, performance, or functionality for Treasure that Treasure afterwards incorporates into the Service, Users acknowledge that Treasure owns and has all rights to use these suggestions and may incorporate such new features or performances as the sole property of Treasure. User also forfeits the right to confidentiality restrictions regarding these suggestions. User shall not sell, lease, or otherwise transfer or distribute Treasure’s Services, or any associated documentation without prior authorization from Treasure. Users agree that a breach of this clause will cause irreparable harm to Treasure, and accordingly Users understand that Treasure will be entitled to injunctive relief against the User.
3.5 Minors
Our Platform its not intended for those under the age of majority in the jurisdiction that you reside. If you are a minor, you may not use our Platform. We do not knowingly collect information or direct any of our content specifically to minors. If our team has reason to believe you are not of age (minor), we will close your account, and take any needed action our sole discretion to rectify your misuse and violation of these Terms.
4. Account Funding and Management
4.1 External Accounts
In order to transact on our Platform you must use validated credit cards in your name, and/or a validated account with our external financial service provider (“External Account”), and agree to their Terms of Service and Privacy Policy in addition to ours. At this time, we only accept payments in USD (United States Dollar). You may at times be required to verify that the External Account that you used to transfer money is owned by you. Treasure is not responsible for any fees to your External Account nor are we responsible for the management or security of any External Account. In logging in and making a financial transaction on our Platform, you reaffirm your review and agreement to our Terms in each such action and transaction.
4.2 Ownership
In using our Platform, you may sell or purchase ownership Shares that represent a legal interest in Collectibles. Treasure is not an owner of your funds or Shares in your account, you are the sole owner of the Shares under these Terms. You understand that you may not transfer your account or Collectibles or Shares in your account to others, and that you are responsible for proper estate planning which directs the executor of your estate to liquidate and terminate your account under these terms.
4.3 User Authorizations
You hereby authorize Treasure, its third party services, our team and respective employees, in relation to your account and the use of our Platform to;
i. Access and view balance of your account, its transaction history, and Collectibles for the purpose of reconciliation or computation or for any corrections due for any reason.
ii. Transfer funds to and from your account as directed by you.
iii. Effect or freeze transactions to and from your account in event of any breach of these Terms or applicable law.
4.4 Withdrawals
You are responsible for your transfer of Funds and actions with External Accounts.
5. Transactions
5.1 Transacting on our Platform
Our Platform allows Users to purchase, sell, and collect Shares of, and Display, Collectibles. Users understand that our Platform is not an offer or solicitation of interest in any of the offerings.
5.2 Account Creation
Upon the making of a purchase, Users authorize Treasure to create an account on their behalf and save account information in our systems. Users may close that account at any time.
5.3 Purchases of Shares
When purchasing a Share you own part of the Collectible in the properties of ownership which are some but not all of possession, enjoyment, and control. Our Platform gives you the opportunity to buy Shares which represent a legal encroachment on the physical Collectible and its possession, providing the User the ownership components of enjoyment and control. All transactions of Shares are executed through our Platform, and as such Treasure does not permit transfer of Shares outside our Platform.
5.4 Risk of Loss
You understand the following in regards to all transactions on our Platform including listing a Collectible and the buying and selling of Shares;
5.4a. The real value of Shares if a Collectible is dependent on the external market ("Market"), so your Share may go up and down in value depending on the Market.
5.4b. You understand that you have no expectation of profit, reasonable or otherwise, from your use of our Platform or from your buying, selling or owing Shares, and you accept the possibility of loss or gain from external Market forces.
5.4c. You understand that Shares may rise or fall with the general economy, the value of money(remember we only accept US dollars), and the external collectible Market. You acknowledge that collecting is a “Hobby” not an “Investment” and agree not to attempt to invest on our Platform.
5.4d. To protect you as a User from the unpredictable nature of the external collectible Market which may effect the Collectible Share value on our Platform, you agree that at no time will you acquire Shares on our Platform that in the aggregate purchase price exceed 5% of the greater of your annual income or net worth.
5.4e. You understand that your purchase of Shares exclusively affords you the rights in the Collectible outlined in these Terms, and that you are specifically restricted from any rights not outlined in these Terms, including but not limited to intellectual property rights, estate transfer rights, and possession rights.
5.4f. You understand that you may not use the ownership of Shares on our Platform for any business or enterprise purpose, on or off our Platform, including but not limited to marketing, promotion, partnership, bundling or resale. An individual who has listed an item with Shares available to buy may also not use that item outside of its role on Treasure in a business or enterprise purpose.
5.4g. You understand that some Collectibles on our Platform may be offered by Sellers who have an ownership interest in or business or personal association with Treasure, its owners, agents, associates, and assigns. You understand that the personal identity of Sellers on our Platform is confidential information and you wave any right as a User or Buyer or Seller of Collectibles to confidential information and you wave any claim or obligation of any further notice of association, identity or ownership.
5.4h. You understand that representations of provenance on our Platform are opinions, and that it is your sole responsibility as a User to independently verify and/or rely on others you trust outside our Platform to verify the authenticity and value of any item, Collectible or Shares you choose to purchase on our Platform, and that Treasure, its associates, third party vendors, and other Users make no warranties expressed or implied upon which you can rely in your own collecting and decisions about your transactions on our Platform.
5.5 Residency
You Acknowledge that, as a User of our Platform, you reside in a jurisdiction which permits under law the use of our Platform and its services. You are aware of the laws and regulations in your jurisdiction and will not violate the same in the use of our Platform. Treasure holds at our sole discretion the right to suspend or terminate your account for any reason, and in such event your Collectibles listed, your Shares owned, and Treasure account will be delisted, sold and current value, and terminated under these Terms without prior notice if in our judgment you have violated these Terms or to cooperate with an executor of your estate or any lawful order.
6. Fees and Taxes
6.1 Fees(From Treasure and Third Parties)
There is a required fee for every Transaction you initiate on our Platform. These fees will vary from time to time at our sole discretion, and include both a Treasure Platform fee and a transaction fee imposed by our third party financial services provider. By using our Platform you agree to pay all applicable Fees. You will be notified during transactions with the total including fees.
6.2 Responsibility for Taxes
You are solely responsible to pay any and all sales, use, income, capital gain, value-added, and other taxes resulting from your use of our Platform, excepting on our net income, now and hereafter claimed or enforced by any governmental authority. You will not be entitled to deduct any amount of any taxes paid by you from payments including cost and fees due to and paid to Treasure.
6.2a. It is your responsibility as a User to determine what, if any, taxes or other obligations apply to you through any activity or transactions you conduct using our Platform. You must report, hold, collect, and remit the correct amounts of taxes to the appropriate authorities. Your transaction history is available through your account for reference, however your record keeping is your responsibility. Treasure is not responsible for your records or any of your obligations outside our Platform, and you agree to hold Treasure forever harmless of such obligations.
7. Ownership of Shares and Collectibles
7.1 Ownership of Shares
In this section, the word “own” and “ownership” refer to a Share of a Collectible that you Purchased on our Platform and is successfully recorded in our Platform system data. In owning a Share, you have the rights outlined in these Terms, and to buy or sell at any time you deem necessary. You acknowledge and agree that your rights are subject to your maintenance of the security of your Account, which is required by these Terms.
7.2 Ownership of the Collectible on Treasure.
When purchasing a Share for Co-Ownership, you purchase an interest in the Collectible, you as a User enter into a legal interested party status and hold a legal encumbrance against that collectible. You, as a Share owner, are a rightful percentage rights owner when you purchase a Share, which allows you to sell or showcase your Share on Treasure, and vote on the Collectible’s future, which may include but is not limited to retention on our Platform, sale to a third-party on or off our Platform, or the transfer of possession to another User, from time to time under these Terms and other such terms outlined by Treasure in the vote process. By agreeing to these terms you acknowledge that upon purchase of a Share you are a Co-Owner of the Collectible as outlined in these Terms, and not outside these Terms or our Platform.
7.2a. Users who have listed Collectibles with Shares for purchase on our Platform understand that there is now a cloud on the title of that item, and it may not be sold, nor should it be damaged or lost under penalty of reimbursement to any members of the Treasure community, including Treasure itself, in accordance with the percentage of their ownership of the Collectible in question.
7.2b. Users understand that assets purchased on the Platform for Co-Ownership are illiquid by nature because in order to sell a Collectible, Users with ownership shares must achieve a majority vote to do so. Users also understand that in order to sell their own shares, they must wait to sell them on Treasure’s Platform, and they cannot use or liquidate those shares elsewhere.
7.2c. Users may not acquire more than 20% of an item. Users understand that is a violation of this agreement to create multiple accounts in an attempt to violate these terms.
7.3 Listing Agreement
In order to sell Shares of a Collectible (“List”) on our Platform, the owner of the Collectible must agree to these Terms of Service and to undergo various levels of checks that include the possibility of verifications, interviews, proof of insurance with proper named insured to protect Treasure and its Users, certificate of authenticity of your Collectible, and other documents. In Listing a Collectible on Treasure, the User will convey the rights and interest outlined in these Terms of 75% of the item they choose to list, including 5% to Treasure as a listing sellers’ fee. Treasure retains the right to change listing percentages and terms and Users will be notified. The Listing User acknowledges herein that they NO LONGER EXCLUSIVELY OWN their collectible, and agree to execute any necessary documents to memorialize and register any and all legal documents and encumbrance/s necessary to perfect under law the ownership and/or rights conveyed to Treasure and its Users in the transfer in fee or in sale of Shares of the Users’ Listed Collectible. When other Users buy shares of your collectible, you acknowledge that you are no longer in FULL control of your Collectible and its future, ownership rights, and outcome of its life cycle. At any point you can buy back shares of your Listed Collectible at market on Treasure, up to a percentage amount that will be set and updated by Treasure. While a Listing User maintains physical possession of the Collectible, they share certain components of ownership as outlined in these Terms with those who purchase Shares on Treasure.
7.3a. A User who Lists Shares of a Collectible agrees herein to continue and act as the responsible legal “custodian" of the item for all who share in its ownership, and to keep the Collectible safe, unaltered and unharmed in their possession exercising best practices in the custodianship of a historic, valuable item. Should any damage or losses occur as the result of neglect or otherwise to the Collectible, Treasure, and the Share owners shall enjoy the right to exercise any legal measures necessary to recoup such losses including but not limited to compensation from insurance claims, selling the sellers possession Shares on treasure, confiscation and sale at market of the Collectible itself, and as otherwise outlined in these Terms. Should any such sale fail to cover total loses by Treasure and its Users as a result of such loss, the Listing User herein personally guarantees to Treasure and its Users the total or remainder of such loss, not to exceed Market value and expenses. At no time shall Shares or a Collectible be sold where funds exceeding loses are not distributed to all Users per percentage Share of ownership, including the Listing User.
7.3b. Users who List Shares of a Collectible understand that they maintain possession of the Collectible through their 25% Share ownership (the “Possession Share”), which includes the right to maintain possession of the Collectible in exchange for the duty to act as Custodian on behalf of the owners, which includes such obligations as providing appropriate and safe storage consistent with best practice in the Collectible community, as well as the maintenance and payment of required insurance and, if necessary, any storage fees.
7.4 Buyouts/Acquisition of Possession and Listing Shares
A User may acquire the possession ownership rights of a Collectible Listed on our Platform. When a User has a Collectible Listed, they own the quantity of Shares on Treasure retained at Listing consistent with physical possession of the Collectible (“Possession Share”). Users have the option to bid on a Possession Share at such times as Treasure initiates this option on our Platform via direct listing to all or a vote. The Possession Share equals 25% of the Shares of the Collectible listed available on our Platform, and conveys with such ownership the possession ownership rights to the Collectible. PLEASE NOTE that only a User who already has shares in the Collectible in question may make an offer for the Possession Share. When a User purchases the Possession Share, they assume both the physical possession in a transfer method approved by Treasure, and such Listing obligations of the Collectible as outlined in these Terms. The new Possession Share User then maintains physical possession of the Collectible while all rights owned in Shares on Treasure by other Users remain in full force and effect. The new Possession Share User assumes the obligations of the execution of new necessary documents to memorialize and register any and all legal documents and encumbrance/s necessary to perfect under law the ownership rights conveyed to Treasure and its Users in the Collectible as well as other documentation including but not limited to insurance, certificated of authenticity, and Profile data.
7.4a. Treasure may, at its sole discretion, from time to time, permit Users to Purchase all existing Shares (“Buyout”) associated with a collectible listed on our Platform at market, either with complete purchase of all Shares, or in the acquisition of all Shares resulting from a vote of Share owner Users in excess of a set majority percentage as defined by Treasure at it's still discretion. A Buyout may be conducted if a User offers a price per Share that a majority percentage as defined by Treasure at it's still discretion of share holders vote to accept. In a Buyout, Shares will be bought and sold on our Platform with proceeds dispersed in Shares owned at the time of the Buyout, once the payments have been processed, the Collectible will be transferred and removed from our Platform.
7.5 Outright Sales of Co-Owned Collectibles
Treasure may from time permit Users to vote to execute the outright sale of a Collectible. In the event that a User deems it appropriate to sell a Co-Owned Collectible, that User may hire an attorney who agrees to work a minimum of five hours for $250.00 per hour (with 3% inflation) who will contact the other Co-Owners and contact Treasure if the Collectible has been sold. If the Collectible has been sold, Treasure shall release its lien and ensure the Collectible is shipped to the appropriate party. In the event of such a sale, the proceeds shall be distributed on a pro rata basis. Once the payments have been processed, the Collectible will transferred and removed from our Platform. Users are encouraged to promote the exploration and vote to sell a Collectible at a time they feel appropriate. If the Collectible sells, the legal fees paid to the attorney shall be paid on a pro rata basis by all Co-Owners. If the Collectible is not sold, the User who called the vote must pay the attorney.
7.6 Failure to Sell Out
If a Collectible shall fail to sell out of its initial offering, the Seller may buy back Shares at the initial offering price per share and delist the collectible from our Platform with the assistance of Treasure as may be necessary in a process determined at our sole discretion.
7.7 Treasure Buys Back Shares
Ideally, if Users want to sell their shares of Collectibles they will list their shares for sale to other Users. In the event that Treasure is buying back shares of any Collectible, Users understand that Treasure will buy back the Collectible for one cent less than the initial Share price, or such lower fair market value as may be set from time to time, and the User will not be reimbursed for any transaction fees from any time of purchase.
7.8 Phases of Collectible Offerings
You understand that Shares are listed on our Platform in two phases, the "Initial Offering" and as listed by Sellers after the Initial Offering sells out. You acknowledge that when you buy a Share during an Initial Offering of a Collectible, you cannot sell that Share until the total Shares of the Initial Offering sell out, thereafter you may list your Share/s for sale at the then pricing on our Platform.
7.9 Outright Sale of Singularly-Owned Collectibles
Users may also list items for the purpose of a direct sale, not for co-ownership. In the event that this occurs, payments by Buyers may be made outright, or can be arranged through Treasure’s Layaway Program described below.
7.10 Treasure’s Layaway Program
Treasure’s Layaway Program (“Layaway Program”) is applied to sales of Collectibles that are not co-owned, and allows for a transaction between a Seller and Buyer wherein the purchase of a Collectible on Treasure’s Platform may be paid for in installments over the course of six months. Upon purchase of the Collectible, Buyer shall pay to Seller a down payment of 20% of the value of the Collectible, comprised of 10% of the value owed to Seller and a 10% transaction fee, which will be paid to Treasure (this shall result in the total value paid by Buyer to amount to 110% of the value of the Collectible: 10% as a transaction fee to Treasure, and the rest as consideration to Seller for the Collectible). Following the down payment, Buyer shall pay the first of six monthly installments within one month, in an amount constituting 1/6 of the value of the sale value of the Collectible, minus the 10% consideration to Seller paid at the time of the down payment. At the start of the second month, Buyer shall make the second monthly payment, and shall have the duration of that month to do so, and so on until the value of the Collectible is paid in full.
7.10.a. Collectibles shall not be shipped until they are paid for in full. Buyers may, at any time, pay the remainder of the fee in full to expedite the receipt of their purchase.
7.10.b. In the event Buyer fails to make any of their payments on time, the Buyer shall have one 30-day grace period. Any following failures to make a monthly payment shall result in a termination of the purchase: the item will not be shipped, and any monthly payments until that point shall be refunded. The deposit fee, comprising of the initial 10% payment to seller, as well as the 10% transaction fee paid to Treasure shall not be refunded as a result of Buyer’s failure to make their monthly payment.
8. Ownership of Platform
8.1 Treasure Ownership
You Acknowledge and agree that we, Treasure, own all legal rights, titles, and interest to and in all elements and all intellectual property rights on our Platform. This includes designs, methods, systems, computer code, software, services, data, trade secrets, and all other elements on our Platform that we allow you as a User to access and use in the privilege of your use of our Platform.
8.2 You understand that in purchasing a Share, while you own certain rights in the Collectible as outlined in these Terms, you do not own any rights or license in and on the Treasure Platform itself. You do not have the right to distribute or reproduce any elements of our Platform without prior written consent.
9. Conditions of Use and Prohibited Activities
9.1 User’s Responsibilities
Treasure’s Services include comment sections under Displayed and Listed items. While using these and other Services, you as a User understand and agree that you are solely responsible for your conduct while using and accessing our Platform. You also agree that other Users are solely responsible for their actins while using and accessing our Platform. You agree that you will act in accordance with the highest standards and use our Platform only for its intended purposes legally, properly, and in accordance to these Terms of Service and any applicable laws or regulations. You, the User, agree your use of our Platform will not (nor allow any third party to):
9.1a. Upload, send, distribute, any unlawful, harmful, abusive, obscene, pornographic, or objectionable content.
9.1b. Be involved with the distribution of viruses, worms, bugs, defects, corrupt files, or anything that will or can be harmful or destructive in any nature.
9.1c. Violate any legal rights like the privacy or publicity of others our Platform.
9.1d. Engage or become involved in promoting illegal acts on our Platform.
9.1e. Be involved with the tampering of other’s enjoyment on our Platform.
9.1f. Have any involvement in engaging in “screenscraping,” “databasescraping”.
9.1g. Tampering with any portion of our Platform such as patents, reformatting, framing, or any front or back end portions of our Platform or acts of fraud will result in legal actions and termination of your account. In such situation we, without notice or liability to you or limiting any of our other rights of law or equity, may suspend or terminate your account, and as necessary your Shares may be dissolved and/or sold with your account termination under these Terms. You will not be entitled to refund of any amounts you paid for those Shares. In such an event, you agree that you shall be responsible for compensation due to Users who may then own Shares you have sold and shall be financially responsible in the same manner as if the Collectible was damaged under these Terms.
10. Suspensions and Terminations
10.1 Termination by User.
At any point you are free to terminate your account on Treasure through the selling of your Shares in the then market on our Platform and withdrawing all balances if any from from your account through our third party vendor. While you are not charged for the cancellation of your account, if there are any expenses incurred by or assigned to Treasure or its Users, you are required to compensate Treasure or its Users in full. Any pending transactions will be canceled at the time your account is terminated.
10.2 Termination by Treasure
You agree and acknowledge that we may suspend, terminate, or cancel any accounts, transactions, or any use of our Platform that violates our Terms of Service. If we have reason to suspect illegal, fraudulent, abusive, or prohibited activities, we maintain the full right to act at our sole discretion, including the termination and dissolution of your account as outlined in these Terms or as otherwise necessary at our discretion or under law.
11. Indemnification
11.1 You as a User acknowledge and agree to hold your account and actions to the highest standard when using our Platform. If you have any dispute with Treasure or another User of our Platform, Treasure, and its agents, affiliates, assigns, and service providers, each with their own respected officers, directors, and agents, will review all demands and damages (both actual and consequential) from all parties involved as well as actions that are a breach of our Terms. Compensation, if any, for all damages will be decided and rewarded accordingly at our sole discretion, and you agree to accept our determination and to hold Treasure, and its agents, affiliates, assigns, and service providers forever harmless against any and all claims by you or caused by you.
12. Disclaimers
Treasure is not an investment or security marketplace, and assumes no responsibility for misuse of our Platform. You agree to cooperate in any way necessary to assist Treasure in facilitating any necessary restructuring of our Platform, Collectibles, Shares or these Terms as may be deemed necessary by competent legal authority. You agree and understand that there is no reasonable expectation of profit in using Treasure, its Platform, or its Services.
12.1 Irrational Exuberance
Users agree that it is strongly inadvisable to make purchases based on irrational exuberance. Users understand that they SHOULD NEVER make determinations of an item’s market value based on recent and current transactions on Treasure or elsewhere over broad market trends.
12.2 Force Majeure
Treasure will not be liable for any delays or failure in performance which are directly or indirectly cause by reasons beyond our control, including but not limited to, significant market volatility, an act of God, civil and military authorities, pandemic, acts of terrorism, war, labor disruption, interruption in telecommunications or Internet services, network provider services, or any other catastrophic situation which is beyond reasonable control and as such will not affect the validity and enforceability of these Terms.
12.3 No Warranties
You Acknowledge and Agree that the use of our Platform is at your sole risk, and you acknowledge that Treasure takes necessary steps to provide privacy and security. You, the User, accept there is still risk involved with providing personal information and transacting over the internet, and agree that we have no liability or responsibility of any breach of security unless it is due to our specific, direct, and gross negligence as determined at law.
12.4 Wrongfully Sold/Lost/Damaged Items
In the event that a Collectible listed with ownership Shares for sale has been damaged, gone missing, or been sold against the encumbrances owned by Treasure and its respective users, Treasure is responsible for taking reasonable efforts to reclaim the item, or at least its fair market value.
12.4a. A User who has listed a Collectible for sale, which has subsequently had Shares purchased by other Users, its responsible for the safeguarding of the collectible in question. Users understand that the possessor of the collectible serves as a sort of “vault,” and the possessing User is liable for any damage that comes to the collectible in question, and any monetary damages owed to users as a result.
12.4b. Users understand that Treasure has filed a UCC-1 lien in order to record its 5% ownership in each Listed Collectible not listed by Treasure with Shares available for purchase. While this will aid in recovering an item that has been wrongfully sold outside of the Treasure Marketplace, Treasure guarantees only that we will make our best reasonable efforts to recover the collectible’s fair market price, and only at best the physical item, from the User who listed the item and later wrongfully sold it to another party. It is HIGHLY recommended that Users do their own research(such as title searches as well as market data of the collectible in question) before purchasing Shares on Treasure.
12.4c. Users understand that Tiquitas offers a lifetime authenticity guarantee for Collectibles listed, as well as lifetime stewardship of the Collectibles in question, save for third party criminal liability, third party neglect, or acts of God.
12.5 Treasure Ceases to Exist
Upon dissolution, closure, or bankruptcy of Treasure, the executor appointed by Treasure shall notify all Users of Treasure ceasing to exist and shall manage the distribution of Collectibles/the monetary value of Shares as necessary. Users may also go to court and resolve the lien against any items for which they have bought shares.
13. Links To & From External Platforms
13.1 Our Platform may provide different links or references to other platforms which may be operated by a third party. These references are solely showed as a convenience and/or service to our Users. TREASURE HAS NO CONTROL OVER EXTERNAL PLATFORMS, which are not governed by these Terms of Service. When visiting other platforms, you acknowledge that it is at your own risk and assume all responsibility in such regard. We disclaim any liability that might arise through the use of third-party platforms. We highly encourage you to review the Terms of Service on all external platforms used and agree that Treasure not liable for any loss or damage that may occur in using any external platform.
13.2 Treasure reserves the right to provide new updates, versions, revisions, and make changes/corrections to our Platform and system. You acknowledge and agree to receive automatic software updates in use of our Platform.
14. Dispute Resolution Non-U.S Residents
14.1 You understand that use of the Treasure Platform is restricted to US Residents.
14.2 If your country of residence or establishment is outside the U.S., these Terms of Service will bet governed by and interpreted in accordance with English law. The application of the United Nations Convention on Contracts for the International Sale of Goods (CISG) This choice of law does not impact your rights as a consumer according to the consumer protection laws of your country of residence.
15. Notices
15.1 Email
By giving your email in the registration of our site, you consent to Treasure using that email as a means of communication. Electronic notices will be used in communication of transactions, necessary User outreach and in the event of any information, updates or changes to our Platform. It is your responsibility to keep all contact information such as emails updated and current so you don't miss any important information.
16. General
Treasure strives to enhance the joy of collecting for everyone. By accepting these Terms of Service you acknowledge that you have read and understood all aspects to our Terms and our Platform, what we provide, our goals, our rights, your rights and responsibilities, and to use proper such knowledge and etiquette as you use our Platform and the services we provide.
Updated and current as of June 27th, 2024
Copyright 2023 Treasure. The Treasure system is Patent Pending and the Treasure name and Icon are Registered Trademarks of Tiquitas LLC. - All Rights Reserved.
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