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MERCHANT RULES

09/04/2020

MERCHANT RULES FOR THE 6DOT50 MEMBERSHIP PROGRAMME

The 6DOT50 Merchant rules is an electronic contract that sets out the legally binding terms of the relationship between 6DOT50 and Merchants that have applied to and been approved by 6DOT50 as a Payment Facilitator. By registering to become a merchant or by accessing the solution, you accept and agree to be bound by these rules (terms and conditions), as well as any pricing policies and notices published on our website.

We reserve the right to amend these rules and to introduce additional terms at any time. You are therefore responsible for regularly reviewing this agreement. Continued access or use of the benefits offered by us after such changes are made, shall constitute your consent thereto.

The laws of the Seychelles shall in all respects govern the terms of this agreement.

PURPOSE OF THE PROGRAMME

The 6DOT50 Membership Programme is owned and controlled by 6DOT50 Limited, an International Business Company registered in the Seychelles under registration number 219119 (“6DOT50”, “6.50”, “us” or “we”). We facilitate the exchange of value between members and between members and business partners of 6DOT50 using voucher products sold by 6DOT50. 6DOT50 Vouchers may be linked to known and trusted values such as the United States dollar, for example, and in this case the 6DOT50 Voucher may be referred to as Digital Dollars (D$), We may also offer Digital Pounds (D£) and other digital representations of value so that you are able to easily determine the value of the voucher that you hold. The value of each Digital voucher is backed 100% by the equivalent fiat currency held on deposit in a bank account that is independently managed and controlled by professional organisations in accordance with these Member and the Benefit Rules. The value of 1 Digital Dollar is therefore equal to 1 US Dollar.

Unlike physical products that are subject to wear and tear, subject to loss and are costly to store and move, 6DOT50 vouchers are borderless and are not prone to wear and tear or loss thus retaining its representative value indefinitely. In addition, 6DOT50 Vouchers may be redeemed to acquire other products and services from 6DOT50 participating Payment Facilitators and business partners. A 6DOT50 Voucher is therefore a product with a common measure of value used in the exchange of products and services.

6DOT50 plays the limited role of Selling voucher products to members and managing them on behalf of members in accordance with these Member and the Benefit Rules.

PARTIES

6.50, 6DOT50, we, us, our Refers to 6DOT50 Limited (219119), a wholly-owned subsidiary of FFS Holdings Limited (registration number: GB19025003), and located at 1st Floor, Nr. 4 DEKK House, De Zippora Street, P.O. Box 505, Providence Industrial Estate, Mahé, Republic of Seychelles
Cash-out Refers to a refund request from a merchant wanting to convert their 6DOT50 voucher value in exchange for a deposit into their bank account
Business Partners Refers to Payment Facilitators that offer various products and Services to users from a network of retailers and eCommerce merchants and Payment Processors that facilitate the collection and payment of funds due by and to members.
Merchant, you, your Refers to a Payment Facilitator of the 6DOT50 Membership Programme.
Payment Facilitator Refers to a business partner registered with 6DOT50 or a business that accepts 6DOT50 vouchers in exchange for products and services.
Payment Processor Refers to a business partner that facilitates the collection and payment of funds due by and to members on behalf of 6DOT50.

These rules govern the relationship between 6DOT50 (us) and Payment Facilitators (you).

MERCHANTS

To be a merchant of 6DOT50, you must be:

a)
A business that accepts 6DOT50 Digital Vouchers in exchange for products and services that to sell to 6DOT50 members; and
b)
You must have a Bank Account that will be used by 6DOT50 to pay amounts due to you.

Where a territory, in which a member resides, imposes restrictions on a member’s ability to acquire products and services from you, such restrictions may be implemented by 6DOT50. You are solely responsible to ensure that you comply with any and all local laws and requirements and or restrictions that may be applicable to you in your territory. We will take the necessary steps to comply with the applicable regulatory requirements in order for us to meet our obligations to you in your territory.

You specifically agree not to use the 6DOT50 solution or to claim any benefits from 6DOT50 in return for goods and or services rendered to any 6DOT50 member that:

a)
Is harmful, threatening, abusive, harassing, tortious, indecent, defamatory, discriminatory, vulgar, profane, obscene, libellous, hateful or otherwise objectionable, invasive of another’s privacy, relating or encouraging money laundering or gambling or purely speculative economic activity;
b)
Contains material that violates the standards of good taste or the standards of the Services; or
c)
Violates any third-party right, including, but not limited to, right of privacy, right of publicity, copyright, trademark, patent, trade secret, or any other intellectual property or proprietary rights;

You acknowledge that we have no obligation to monitor your – or anyone else’s – access to or use of the Services for violations of the Terms, or to review or edit any content. However, we have the right to do so for the purpose of operating and improving the 6DOT50 solution (including without limitation for fraud prevention, risk assessment, investigation and member support purposes), to ensure your compliance with the Terms and to comply with applicable law or the order or requirement of legal process, a court, consent decree, administrative agency or other governmental body.

If you, in our sole discretion, are found to be in non-compliance with any laws and regulations, these Rules, or the privacy policy of the Site, we shall have the right to immediately block your access and usage of the 6DOT50 solution.

You may terminate your account with us at any time by contacting us via the “Support” links on our website.

6DOT50 MERCHANT BENEFITS

Approved merchants are entitled to receive 6DOT50 vouchers from 6DOT50 members in exchange for products and services and to request that 6DOT50 Cash-out their voucher value subject to the following:

a)
Members will, in exchange for goods and services offered by the merchant, use the SEND functionality offered by 6DOT50 to transfer 6DOT50 vouchers from their account to the merchant;
b)
The merchant will receive a notification confirming the transfer and the voucher value will be added to their 6DOT50 Account;
c)
Merchants may request to cash-out their voucher value held in their Account.
d)
All cash-out requests will be subject to the 6DOT50 fees published on the 6SOT50 website as amended from time to time.

You can start accessing the benefits offered from the time that your merchant account has been verified.

Merchants may not use 6DOT50 vouchers as security for any debt.

The Programme is designed to facilitate value transfers between members and between members and 6DOT50 Payment Facilitators using vouchers linked to a known currency as common measure of value. Your merchant account and benefits may be terminated if we find that you acted dishonestly or fraudulently in your engagement with the 6DOT50 Membership Programme.

You are encouraged to report any fraudulent or misuse of benefits by contacting 6DOT50 on INFO@6DOT50.com.

If your merchant status ends or is terminated for any reason:

a)
Your rights to benefits will cease; and
b)
We will cash-out the value of 6DOT50 vouchers held in your 6DOT50 merchant account less any fees that may be applicable.

To cancel your merchant status you must give 30 calendar days’ notice in order for us to formally close your Account.

FEES

There are no joining fees or monthly fees payable by merchants. Fees that may be applicable to benefits will be posted on our website and will be charged as applicable. The fees that are applicable are:

a)
Transaction Fees on Cash-out – When you request a refund of the 6DOT50 voucher value held in your account, we will pay the amount due directly into your bank account less the fees quoted at the time that you request the refund;
b)
Transaction Fees on USE – When redeeming vouchers for other products and services no transaction fees will be charged to merchants. Fees may be applicable when redeeming vouchers for alternative voucher options. Fees may also apply to Business Benefits available to Business members;
c)
Transaction Fees on SEND – When sending 6DOT50 vouchers to other members and or merchants no transaction fees are applicable;

NO LEGAL RELATIONSHIP

You have no legal relationship with 6DOT50 other than being bound by these rules and, when entitled to do so, receiving any Benefits you may be entitled to.

LIMITATION OF LIABILITY

6DOT50’s total liability shall be limited to the value of the active 6DOT50 voucher held in your account less applicable fees. Under no circumstances, including as a result of its negligent acts or omissions or those of its staff, servicers, agents, members, contractors, partners or other persons for whom in law it may be liable, will 6DOT50 be liable for any loss, injury or damage of any nature which you may sustain as a result of engagement in the 6DOT50 Membership Programme. By agreeing to these Rules you indemnify 6DOT50 accordingly.

The Programme and underlying technology and processors have been designed and implemented to ensure that you have uninterrupted access to the programme but 6DOT50 cannot guarantee the availability, accessibility, accuracy, or proper functioning of the Programme or those benefits offered by 6DOT50 Business Partners nor that it will function error-free.

It is possible that submissions may not be successfully processed or executed because of errors or failures, whether caused by you, 6DOT50 or other factors related to our business partners, members or other third-party providers.

6DOT50 is not responsible for any unauthorised human or technical intervention nor is liable or otherwise responsible for any transaction that is not properly processed, executed, saved or transmitted, regardless of the cause of the problem.

No warranty is made that 6DOT50’s or 6DOT50’s business partners’ or 6DOT50’s members software’s functionality or services will be uninterrupted or error-free.

In the event of any conflict between the applicable software and the rules relating to any Benefit to which the software pertains, the rules governing such Benefit shall prevail.

PERMISSION TO PROCESS AND DISCLOSE INFORMATION AND TO COMMUNICATE WITH YOU

Your privacy is very important to us and we will ensure that any information, including Personal Information, provided by, or collected from you, is stored in a secure manner. When you engage with us, you trust us with personal information about yourself.

The purpose of our Privacy Policy is to detail how we collect, use, share and otherwise process your Personal Information, in line with the Protection of Personal Information.

You have the right to object to the processing of your personal information. It is voluntary to accept these terms and conditions. However, we require your acceptance of our minimum merchant requirements, being a mobile phone number and, where applicable, proof of identity in order to provide you with secure access to our services.

This means that if you do not accept, we cannot activate and service your merchant account.

We will keep your personal information confidential. You may have given us this information yourself or we may have collected it from other third parties such as service providers, partners or public sources. For details on our Privacy Policy visit www.6DOT50.com

DEFINITIONS AND INTERPRETATION

The following expressions have the following meanings:

Benefits Refers to the benefits available to members through the 6DOT50 Membership Programme and the benefits available to you as outlined in these rules.
Benefit rules Refers to the business practices that you agree to if you choose to use any benefit offered through the 6DOT50 Membership Programme.
Digital Voucher Refers to 6DOT50 vouchers represented by or linked to a stipulated fiat currency such as Digital Dollars where 1 Digital Dollar has a value of 1 US Dollar.
Member The person contracting with 6DOT50 and bound by these Rules. Member includes individuals and businesses.
Merchant activation date The date when you have completed the minimum merchant requirements and been accepted as a Merchant by us.
Member Rules Refers to the rules that are set out in the member rules published on our website as amended from time to time.
Programme Refers to the 6DOT50 Membership Programme.
6DOT50 Membership Programme Refers to the Membership Programme administered by 6DOT50 Limited.