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General Terms & Conditions

This document (“General Terms and Conditions” or “Terms”) is an agreement between you (“you”, “your” or “yourself”) and Trustin Limited, a Private Company Limited by Shares, registered with Abu Dhabi Global Market, under Commercial License no. 000008461, having its registered address at Office 512, Level 11, Al Sarab Tower, Abu Dhabi Global Market Square, Al Maryah Island, Abu Dhabi, United Arab Emirates (“Company”). The Company is regulated by the Financial Services Regulatory Authority (FSRA) of ADGM under Financial Services Permission Number 240003 and authorized to provide Money Services Business (including escrow services). These Terms set outs the term and conditions governing your use and access of:

  • the electronic platform that is owned and operated by the Company (“Platform”); and
  • the products and services offered in the Platform by the Company and third parties engaged by, or in partnership with the Company (“Services”).

Please read these Terms carefully. By accessing and/or using our Platform and/ or Services, you unconditionally and irrevocably acknowledge and represent that you have carefully read, understood, and accepted these Terms in their entirety as a legally binding agreement between yourself and the Company. You should immediately stop accessing and/or using the Platform and/or Services if you do not accept these Terms.

In interpreting these Terms, the intention and purpose behind the specific paragraph or paragraphs must be taken into consideration. These Terms shall be of a continuing nature. The version of the Terms currently in force will be available through the Company and on the official website of the Company at https://trustin.ae (“Website”) and you agree that it shall be your sole responsibility to check for any updates to the Terms.

Definitions

  • “Account” means an account created by a Registered User for the purpose of using the Platform and/or the Services of the Company.
  • “ADGM” means the Abu Dhabi Global Market.
  • “Affiliate” means, with respect to a party, any director, employee, agent, subsidiary of the Company those controls, is controlled by, or is under common control with such party. For purposes of this definition, “control” means the legal power to direct or cause the direction of the general management of a company, partnership, or other legal entity.
  • “Applicable Laws” means all applicable laws including, but not limited to, statutes, decrees, edicts, codes, orders, instructions, judgements, rules, ordinances and regulations of the Abu Dhabi Global Market.
  • “Business Conduct Rules” means the Conduct of Business Rulebook (COBS) set out by the FSRA available at Conduct of Business Rules (COBS) | Rulebook (thomsonreuters.com).
  • “Buyer” means, with respect to a Person or Legal Person being a Registered User who seeks to purchase products and/or services from another Registered User and remit monies through the escrow Service offered by the Company on the Platform.
  • “Client Money Rules” means the requirements set out in Rule 14.2 of the Business Conduct Rules for holding of Escrow Amount/ Relevant Money.
  • “Client Money Distribution Rules” means the requirements set out in Rule 14.4 of the Business Conduct Rules for holding and distribution of Escrow Amount/ Relevant Money by the Company.
  • “Escrow Amount/ Relevant Money” has the meaning set out in the Business Conduct Rules and for the purposes of these Terms and the Escrow Terms, means the funds that are transferred by the Registered User to the Escrow Account which shall be subject to the Client Money Rules as set out in the Business Conduct Rules. For the purposes of all provisions within the Terms and the Escrow Terms, the terms "Relevant Money" and "Escrow Amount" shall have the same meaning and shall be used interchangeably. .
  • “Force Majeure” means any act of God, epidemic, pandemic, explosion, flood, tempest, lightning strike, fire, accident, war or threat of war, sabotage, insurrection, civil disturbance or requisition, terrorism, acts, restrictions, regulations, bye-laws, prohibitions or measures of any kind on the part of any governmental, parliamentary or local authority, import or export regulations or embargoes, strikes, lock outs or other industrial actions or trade disputes (whether involving employees of the Company or of a third-party), difficulties in obtaining raw materials, labour, fuel, parts or machinery or power failure or breakdown in machinery.
  • “IPR” means all intellectual property or other proprietary rights worldwide, registered or to be registered, including patent, trademark, service mark, copyright, trade secret, know-how, moral right, all materials related to the Platform (“Platform Materials”) and any other intellectual and intangible property rights including all continuations whether in full or in part, applications, renewals, and extensions of any of the foregoing of the Company or any of its Affiliates, whether registered or unregistered.
  • “Legal Person” means a company, a corporation or any other entity having separate legal personality.
  • “Money Service Business” means the service of providing currency exchange, money remittance or payment services including escrow services as set out in Financial Services and Markets Regulations 2015 (as amended from time to time) available at https://en.adgm.thomsonreuters.com/sites/default/files/net_file_store/ADGM1547_12483_VER13040523.pdf.
  • “Person” means a natural person.
  • “Proof of Delivery” means the documents as maybe specified by the Company for its verification that the product and/or service has been delivered by the Seller and received by the Buyer.
  • “Registered User” has the meaning to set out in Article 2.1 (c) – General of these Terms.  
  • “Sanctioned Entity” means (a) a country or a government of a country, (b) an agency of the government of a country, (c) an organization directly or indirectly controlled by a country or its government, (d) a Person resident in or determined to be resident in a country, in each case, that is subject to a country sanctions program administered and enforced by Office of Foreign Assets Control, US Department of the Treasury (OFAC).
  • “Sanctioned Person” means a person named on the list of Specially Designated Nationals (“SDN List”) maintained by OFAC.
  • “Seller” means, with respect to a Person or Legal Person being a Registered User, who seeks to sell products and/or services to other Registered User(s) and receive monies through the escrow Service offered by the Company on the Platform.
  • “TrustIn Fees” means the service fee which shall be a percentage of the Escrow Amount + 5% VAT, which is payable by the Registered User(s) either singly or jointly to the Company for provision of the escrow Service, which shall be in the following range:
Type of Transaction % of Escrow Amount
Individual Clients AED 100/- or 0.50% whichever is higher
Corporate Clients AED 250/- or 0.90% whichever is higher
Others To be updated time to time

Account

General

  • You may apply for an Account by following the relevant instructions on the Website. Please refer to Article 10 – Data Protection of these Terms to understand the type of information/ data you will be required to submit in order to create an Account to be able to access and/or use the Platform and Services.
  • After the completion of Account creation process, the Company shall verify your application and send a link to your registered email address for confirmation of your registration application and activation of your Account within 24 (twenty four) hours of your registration application.
  • Where the Company approves your application for an Account, the Company will issue you an Account and access will be granted to your authorized representatives that have been approved verified by the Company (each such authorized representative a “Registered User”). In the event the Registered User is a Legal Person, the authorized representative of such Legal Person shall be the Registered User. Each Registered User will also be required to submit information/ data as set out in Article 10 – Data Protection of these Terms for the Company’s verification and approval prior to accessing and using the Platform and the Services.

Responsibility for your Account

  • Your Account can only be used by you and/or your Registered User(s) (as the case may be) and you acknowledge and agree that you shall be fully liable at all times for any communication, transaction, instruction and/or operation made or performed, processed or effected through your Account (each an “Instruction”) by you or your Registered User(s), acting on your behalf or purportedly acting on your behalf, with or without your consent.
  • You must immediately, without undue delay, and not later than 12 months, notify the Company if you suspect or become aware of authorized use of your Account by any person other than yourself and/or your Registered User(s) and/or any other suspected or actual fraud or security threats involving your Account. The Company shall not be held liable if you do not notify the Company within 12 months of the loss, theft, misappropriation or unauthorized use of your Account.
  • Without prejudice to any other provision of the Terms, you authorize the Company to act upon any Instruction (though the Company is not obliged to) which the Company believes was given by you (whether through your Registered User(s) or otherwise).
  • Any Instruction shall not be considered to have been received by the Company until it has actually been received successfully by the Company (whether electronically or otherwise) through the Platform.
  • The Company shall not be responsible for confirming and/or verifying any Instruction or for monitoring or refusing to process any duplicate Instructions.
  • You acknowledge and agree that any records created and maintained by the Company of Instructions by you or any person purporting to be you, acting on your behalf or purportedly acting on your behalf, with or without your consent, shall be binding on you for all purposes and shall be conclusive evidence of such Instructions.
  • You acknowledge and agree that the Company may, at its sole discretion, refuse to act or defer acting upon any Instruction with or without any notice to you.

Investigation for your Account

The Company shall have the absolute discretion to investigate your Account, including where the Company suspects or has determined that:
  • you and/or your Registered User(s) are in breach of any of the Terms (or any part thereof);
  • you and/or your Registered User(s) and/or your Account is/are associated with any unusual or illegal activities, whether directly or indirectly, including any form of fraud, misrepresentation, gross negligence or willful misconduct or for damages arising from death or bodily injury caused by negligence or willful misconduct or for any other loss that cannot be excluded or limited by law;
  • you and/or your Account is/are related to any pending litigation or investigation proceedings by any authority (whether in or out of United Arab Emirates), including any applicable regulatory authority;
  • there are security risks associated with your Account that cannot be or have not been adequately mitigated or resolved;
  • you and/or the operation of your Account is in breach of any Applicable Laws or regulations;
  • there is any other reason which could compromise the Platform and/or the Services by the Company or any other operations of the Company.

In the event the Company commences any investigation into your Account, the Company shall provide you with written notice of the commencement of such investigation and the nature of the allegations that form the basis of the investigation and you shall have 7 (seven) calendar days to respond to such allegations, provided always that the Company may take any action it deems necessary at its sole discretion even before such written notice is received by you.

Right to Suspend or Terminate an Account

The Company reserves the right to take any action that the Company deems necessary at its sole discretion at any time, including the suspension or termination of your Account and/or access and/or use of the Services, whether in whole or in part, if the Company has reason(s) to believe that any of the events set out in Investigations section above has occurred.

Inactive Account

  • The Company has the right to suspend and review your Account if it is not accessed and/or used for a continuous period of 90 (ninety) days (“Inactive Account”).
  • Following the review, where the Company deems your Account to be an Inactive Account, the Company will notify you of the same through such means of communication as the Company may prescribe from time to time (“Notice of Inactivity”).
  • The Company may take any other action it deems necessary at its sole discretion in relation to any Inactive Account, including terminating such Inactive Account.
  • You may request to reactivate your Inactive Account by filing a request with the Company and the Company may require you to provide such information and/or documents as the Company deems necessary before deciding on whether to reactivate your Inactive Account.

Closing of an Account

You may close your Account by submitting a request to the Company by emailing at care@trustin.ae, and thereafter, follow the instructions of the Company.

Notwithstanding anything in the Terms, you cannot close your Account while there is any:

  • outstanding escrow agreement in relation to your Account.
  • pending dues to be paid either to the Company or any other third party engaged by, or in partnership with the Company.

Where you attempt to close your Account that is the subject of an investigation under Paragraph 2.3 (b) above, the Company may, at its sole discretion, refuse to close the Account.

For the avoidance of doubt, where you close your Account that is the subject of an investigation, you shall remain liable for all obligations arising from or in connection with such Account until the conclusion of the investigation and where all necessary actions have been taken by the Company (if any).

Digital Escrow Service

  • One of the Services offered by the Company, includes a digital escrow service where Registered User(s) may make use of the Service, wherein the Platform shall process payments for the sale or purchase of goods and services by and between Registered User(s) on the Platform.
  • For more details about escrow Service, please refer to the Escrow Terms and Conditions (“Escrow Terms”) available at https://trustin.ae.

Ownership of Platform and Service

The Platform and the Services and all content contained therein (except for data belonging to you), including any data, images, links, sounds, graphics, video, software, applications and other digital materials (“Platform Materials”) are the property of the Company.

The Company owns and is duly authorized to display the Platform Materials on the Website. All Platform Materials are reserved for the benefit and use of the Company.

The Platform and the Services are provided on an “as is” and “as available” basis and may be modified, suspended or discontinued (whether in part or in whole) from time to time at the sole discretion of the Company. Neither the Company nor any of its Affiliates make any representation or warranty about the Platform and the Services, or their reliability, availability, or ability to meet your requirements.

No Representations and Warranties by the Company

Without prejudice to the generality of the foregoing, the Platform is provided by the Company without any representation and/or warranty by the Company, whether express or implied, including any representation and/or warranty that:

the Platform will be provided uninterrupted, secure, and/or free from any error and/or omission and any identified defects will be corrected;

the Platform is fit for any particular purpose or requirements of any person;

any data transmitted by you or to you through Platform is secure, including the possibility of such data transmission being intercepted;

there will be no delay and/or interruption to any transmission of data through the Platform.

While the Company will take measures consistent with the Applicable Laws to ensure the continuous operations and security of the Platform, the Company does not guarantee and/or represent in any way that such measures will be sufficient.

The Company controls and maintains the Platform and renders Services from United Arab Emirates and makes no representation that Platform is appropriate and/or available for access and/or use outside of United Arab Emirates.

The Company makes no representation and/or warranty as to having reviewed and/or verified the relevance, timeliness, accuracy, adequacy, commercial value, completeness or reliability of any systems, services, content, materials, products and/or programs provided and/or offered by third parties through the Platform.

Unless expressly stated otherwise, the Company:

does not endorse, sponsor and/or certify any systems, services, content, materials, products and/or programs provided and/or offered by third parties through the Platform; and

is not involved in the provision of such systems, services, content, materials, products and/or programs provided and/or offered by third parties through the Platform.

Unless expressly provided for, the Company is not a party to any agreement between you and any third-party (whether provided and/or offered through Platform) relating to your access to and/or use of systems, services, content, materials, products and/or programs provided and/or offered by such third-party through the Platform (“Third-Party Agreement”).

For the avoidance of doubt, neither the Company nor any of its Affiliates shall be liable for any losses, liabilities, damages, costs and/or expenses (including any direct, indirect, incidental, special, consequential or punitive damages or economic loss or any claims for loss of profits or loss of use) (collectively “Losses”), howsoever caused or arising (including without limitation, cyber-attacks), arising from or in connection with your access to the Services and/or use of systems, services, content, materials, products or programs under any Third-Party Agreement, or for any purchase and/or subscription made in relation thereto.

We have no control over websites linked to and from our Website and assume no responsibility for their content or any loss or damage that may arise from your use of them. You acknowledge and agree that you will be solely responsible for any access to and/or use of the Services, any third-party systems, services, content, materials, products or programs provided and/or offered through the Platform.

Internet Access

You agree and acknowledge that the Terms, Platform, Services and the Platform Materials do not include the provision of internet access or other telecommunication services by the Company.

Any internet access or telecommunications services (such as mobile data connectivity) required by you to access and/or use Platform and/or the Services and/or the Platform Materials shall be your sole responsibility and shall be separately obtained by you, at your own cost.

Restricted Activities

You agree and undertake not to do any one or more of the following:

use or upload, in any way, any software or material that contains, or which you have reason to suspect contains, computer virus or other malicious, destructive or corrupting code, agent, program or macros (including those which may impair or corrupt the Platform Materials or damage or interfere with the operation of any electronic device of any other Registered User or the Platform);

post, promote or transmit any materials or information through the Platform which are or may be illegal, misleading, incomplete, erroneous, offensive, indecent, defamatory or which may not be lawfully disseminated under Applicable Laws or which are otherwise objectionable;

use the Platform and/or any of the Services other than in conformance with these Terms, the acceptable use policies of any connected computer networks, any applicable Internet standards and any other Applicable Laws;

use Platform and/or any of the Services for any illicit activities;

impersonate any person or entity or falsely state or otherwise misrepresent your affiliation with any person or entity;

anything which will amount to a contravention of the Terms and/or any Applicable Laws and regulations.

Payment Modes

Subject to any special payment considerations that Company may agree to, the fees applicable to you for the use of the Platform and/or the Services shall be communicated to you through the Company or through such other means as the Company may prescribe from time to time and the fees are strictly non-refundable unless stated otherwise by the Company.

You may be obliged to pay the full price or may be provided the choice to make milestone payments for the Services provided by the Company (including any associated costs and taxes) as on the date the Company may prescribe, through the below-mentioned available payment methods:

Bank-to-Bank payment transfer via. UAE Payment Gateway System (UAEPGS); or

UAE Fund Transfer System (UAEFTS) wherein the escrow account of the Company shall be added as a beneficiary.

An Invoice will be raised on you for payment, and upon receipt of payment, a receipt confirmation shall be provided to you electronically.

Data Collection

In order to access and/or use the Platform and/or Services, you may be asked to create an Account with the Company and in registering for an Account, you may be required to provide us with data relating to you including personal data as defined under the Abu Dhabi Global Market Data Protection Regulations, 2021 (“Data Protection Regulations”) along with its rules, including:

For Individuals:

  • your full legal name;
  • date of birth;
  • front and back copy of address proof;
  • your nationality;
  • front and back copy of your Passport;
  • front and back copy of valid UAE Resident ID/ UAE ID;
  • contact details, including an email address and telephone number at which you can be contacted at;
  • bank account details (including IBAN Number and SWIFT Code) for the purpose of rendering Services through our Platform;
  • other information as may be required to verify your identity and all data provided by you to us; and
  • other information as may be required to allow the Company to comply with all legal and regulatory obligations under the Applicable Laws.

For Corporate Entities/Legal Persons:

  • legal name;
  • date incorporation;
  • registered address;
  • copy of Trade License/ Commercial License containing details including but not limited to the unique entity number;
  • front and back copy of valid UAE Resident ID/ UAE ID or passport and address proof of the authorized representative/manager to act as the Registered User, the corporate entity/Legal Person;
  • contact details of the authorized representative, including email address and telephone number;
  • bank account details for the purpose of rendering our Services on our Platform;
  • other information as may be required to verify your identity, the identity of the legal entity that you represent, and all data provided by you to us in order for us to be able to render our Services on our Platform; and
  • other information as may be required to allow the Company to comply with all legal and regulatory obligations under the Applicable Laws.
It shall be your sole responsibility to ensure that any data, document, or other information, whether electronic or otherwise, that you submit to the Company (whether through the Company or otherwise):
  • is complete, true, and accurate in all respects at all times;
  • where applicable, is provided within a reasonable time;
  • is not false, misleading, or deceptive in any respect at all times; and
  • does not omit anything that affects or is likely to affect the meaning or significance of such data, document, or other information in any respect at all times.

Please refer to the Privacy Policy of the Company for details on how the Company collects, uses, stores, processes, and protects personal data as defined under Data Protection Regulations (“Personal Data”) that the Company comes into possession of. The provisions of our Privacy Policy are deemed incorporated into these Terms.

You must not open an Account or otherwise access and/or use the Company’s Platform and/or the Services (whether in part or in whole) unless you consent to the collection, use, and disclosure of Personal Data to the Company as set out in the Privacy Policy.

Your opening of an Account, access and/or use of the Company’s Platform and/or the Services (whether in part or in whole), shall constitute an affirmative action of your acknowledgment and acceptance of the Privacy Policy and your consent to the collection, use, processing, and disclosure of Personal Data to the Company in accordance with these Terms and the Privacy Policy.

The Company reserves the right to request further information from you relating to your Account (whether active or inactive) at any time and you agree to promptly respond to any such request for further information.

Transmission and Communications

With respect to all contents of transmissions or communications you make or submit through the Platform, the Company shall be free to reproduce, use, disclose, host, publish, transmit and distribute all such contents of transmissions or communications or any part thereof to others without limitations, and you hereby grant the Company and its Affiliates (if any), a non-exclusive, world-wide, royalty-free, irrevocable license and right to do the same.

You accept the risk that any data transmitted or communicated through the Platform may be accessed by unauthorized third parties and that the transmission of data or communications over the internet may be subject to interruption, transmission blackout, delayed transmission due to internet traffic or incorrect data transmission due to the public nature of the internet.

Records

You acknowledge and agree that any records created and maintained by the Company of the communications, transactions, Instructions and/or operations made or performed, processed or effected through the Company by you, your Registered User(s), or any person purporting to be you, acting on your behalf or purportedly acting on your behalf, with or without your consent, shall be binding on you for all purposes and shall be conclusive evidence of such communications, transactions, Instructions and/or operations.

Termination

You agree that the Company may, at its sole discretion, deny you access to the Platform (or any part thereof), Services and/or the Platform Materials (whether in part or in whole) for any reason, including where:

the Company believes that you have violated or acted inconsistently with these Terms;

the Company and/or any regulatory authority (including the ADGM or any Regulatory Authority of United Arab Emirates) is of the opinion that it is not suitable to continue providing the Services relating to the Platform and/or the Platform Materials, whether generally or specifically to you.

Information Security and Intellectual Property:

The Company and its licensor(s) (if any) reserve and retain all rights (including IPR) in relation to the Services and all content and data contained in or provided on or via Platform including the Platform Materials (including all texts, graphics and logos). You shall not do anything that will violate or infringe the IPR.

You shall not:

  • copy, download, publish, distribute, transmit, disseminate, sell, broadcast, circulate, exploit (whether for commercial benefit or otherwise) or reproduce any of the information or content contained in or provided on or via the Platform and/or the Platform Materials in any form without the prior written permission of the Company and/or its licensor(s) (as the case may be);
  • modify, copy, tamper with or otherwise create derivative works of any software included in the Platform Materials;
  • reverse engineer, disassemble, or decompile the Platform Materials or the Services or apply any other process or procedure to derive the source code of any software included in the Platform Materials or as part of the Services;
  • remove, obscure, or alter any notice of any of our trademarks, or other IPR appearing on or contained within the Services and/or on any Platform Materials;
  • misuse the Platform or our Services by introducing viruses, trojans, worms, logic bombs or other material which is harmful;
  • attempt to gain unauthorized access to the Platform, or our servers, computers or databases, attack the Platform via a denial-of-service attack or distributed denial-of-service attack.
  • No part or parts of the Platform and/or any Platform Materials may be reproduced, distributed, republished, displayed, broadcast, hyperlinked, mirrored, framed, transferred or transmitted in any manner or by any means or stored in an information retrieval system without the prior written permission of the Company and/or its licensor(s) (as the case may be).
  • Subject to any other applicable terms, guidelines, notices, rules and policies, the Company grants you a non-transferable, non-exclusive, revocable, limited license to use and access the Platform and the Platform Materials solely for your own personal, informational and non-commercial use, provided that you do not modify any Platform Materials and that you do not retain any IPR of the Company contained in the Platform Materials.
  • Save as expressly provided otherwise in the Terms, you acknowledge that you are not granted any license, interest or right by virtue of your use of or access to the Platform and/or the Platform Materials.

Disclaimers

TO THE MAXIMUM EXTENT PERMITTED BY THE APPLICABLE LAWS, THE COMPANY MAKES NO WARRANTY OF ANY KIND, WHETHER EXPRESS, IMPLIED, STATUTORY OR OTHERWISE, REGARDING ANY MATTER, AND SPECIFICALLY DISCLAIMS ALL IMPLIED WARRANTIES, INCLUDING WITHOUT LIMITATION ANY IMPLIED WARRANTY OF MERCHANTABILITY, FITNESS FOR A PARTICULAR USE OR PURPOSE, ACCURACY OF INFORMATIONAL CONTENT, SYSTEMS INTEGRATION, NON-INTERFERENCE WITH ENJOYMENT, NON-INFRINGEMENT OF THIRD PARTY RIGHTS, RESULTS TO BE DERIVED FROM THE USE OF OR INTEGRATION WITH THE PLATFORM OR THE SERVICES.

THE PLATFORM AND THE SERVICE ARE PROVIDED 'AS IS', AND AS AVAILABLE EXCLUSIVE OF ANY WARRANTY WHATSOEVER. ADDITIONAL ACTIONS AS APPROPRIATE IN SUCH SITUATIONS UNDER THE APPLICABLE LAWS.THE COMPANY DOES NOT MAKE ANY WARRANTY THAT THE PLATFORM AND THE SERVICE WILL BE ERROR FREE OR UNINTERRUPTED. THE PLATFORM AND SERVICES MAY BE SUBJECT TO LIMITATIONS, DELAYS, AND OTHER ISSUES INHERENT IN THE USE OF THE INTERNET AND THE TYPE OF TECHNOLOGY THAT THE COMPANY MAY USE.WHILE THE COMPANY SHALL MAKE TAKE REASONABLE EFFORTS TO IMMEDIATELY CORRECT SUCH LIMITATIONS, DELAYS AND OTHER ISSUES, HOWEVER, THERE MAY BE DELAYS IN THE PROVISION OF THE PLATFORM AND THE SERVICES ARISING OUT OF (A) ANY REASON BEYOND REASONABLE CONTROL OF THE COMPANY (B) COMPLIANCE REASONS (C) FORCE MAJEURE (D) TECHNICAL BREAKDOWN.

Limitation of Liability

NEITHER THE COMPANY NOR ITS AFFILIATES SHALL, SAVE FOR ANY PROVEN WILLFUL DEFAULT OR FRAUD DIRECTLY CAUSED BY THE COMPANY AND/ OR ITS AFFILIATES, BE LIABLE TO YOU FOR ANY LOSSES, DAMAGES, COSTS AND/OR EXPENSES ARISING FROM OR IN CONNECTION WITH, OR ANYTHING DONE OR NOT DONE AS A DIRECT CONSEQUENCE TO, THE PROVISION OF PLATFORM AND/OR THE SERVICES (WHETHER IN WHOLE OR IN PART), INCLUDING ANY ONE OR MORE OF THE FOLLOWING:

  • ANY FAILURE, ERROR, DELAY OR MALFUNCTION OF PLATFORM, HOWSOEVER CAUSED AND WHETHER OR NOT IDENTIFIED OR IDENTIFIABLE;
  • THE ACCESS TO, USE OF OR INABILITY TO USE THE PLATFORM;
  • THE ACCESS TO, USE OF, OR INABILITY TO USE ANY THIRD-PARTY SERVICES THAT MAY BE ACCESSED THROUGH OR USED ON THE PLATFORM;
  • ANYTHING DONE OR OMITTED TO BE DONE IN THE COURSE OF, OR IN CONNECTION WITH THE DISCHARGE OR PURPORTED DISCHARGE OF THE OBLIGATIONS AND/OR RIGHTS OF THE COMPANY UNDER ANY APPLICABLE LAWS AND REGULATIONS OR IN ACCORDANCE WITH THE TERMS;
  • THE EXERCISE OF THE DISCRETION OF THE COMPANY UNDER THE TERMS;
  • ANY FAILURE, ERROR, DELAY OR MALFUNCTION OF THE PROVISION OF ANY SERVICES (WHETHER IN WHOLE OR IN PART) BY ANY SERVICE PROVIDER ENGAGED BY THE COMPANY;
  • THE TERMINATION OF THE SERVICES (WHETHER IN WHOLE OR IN PART) PROVIDED BY ANY SERVICE PROVIDER ENGAGED BY THE COMPANY (WHETHER IN WHOLE OR IN PART AND WHETHER AT THE ELECTION OF SUCH SERVICE PROVIDER OR OTHERWISE) THAT ALLOWS THE COMPANY TO PROVIDE THE PLATFORM AND/OR THE SERVICES;
  • ANY VIRUS OR OTHER DISRUPTIVE, DESTRUCTIVE, MALICIOUS OR CORRUPTING PROGRAM, CODE, AGENT, SCRIPT OR MACRO;
  • ANY LOSS OF DATA AND/OR CORRUPTION OF ANY DATA THAT IS A RESULT OF ANY MEANS OTHER THAN THOSE IN SUB-PARAGRAPH (H) ABOVE.
  • THE ORIGINALITY, ACCURACY, ADEQUACY, TIMELINESS OR COMPLETENESS OF PLATFORM AND/OR ANY PLATFORM MATERIALS;
  • ANY RELIANCE BY YOU ON THE PLATFORM MATERIALS OR ANY PART THEREOF;
  • ANY INFORMATION TRANSMITTED OR RECEIVED THROUGH THE PLATFORM, OR THE INTERCEPTION OF OR ACCESS TO SUCH INFORMATION BY ANY UNAUTHORIZED PERSON;
  • ANY EVENT, OCCURRENCE, OR CIRCUMSTANCE BEYOND THE REASONABLE CONTROL OF THE COMPANY, INCLUDING ANY ACT OF GOD, CIVIL COMMOTION, RIOT, ACT OF WAR OR TERRORISM, STRIKE, GOVERNMENT ACTION, ACCIDENT OR EQUIPMENT OR TRANSMISSION FAILURE;
  • THE PROVISION OF THE PLATFORM AND/OR THE SERVICES.

Indemnity

You expressly agree to indemnify, defend, save and hold harmless the Company and all Affiliates from all liabilities, claims and Losses arising out of or in connection with:

  • your Account and/or the suspension or termination thereof by the Company in exercising its rights under these Terms and Conditions;
  • the access and use of the Platform and the Services;
  • any services provided by third-party service providers engaged by the Company;
  • any breach by you of these Terms or any Applicable Laws;
  • any wrongful, negligent act and/or omission by you in connection with Company and/or the Terms;
  • other than through the wilful default or fraud by the Affiliates.

Common Terms and Condition

The below-mentioned provisions shall apply commonly to both the General Terms and Conditions, and the Escrow Terms.

Notices

You acknowledge and agree that any communication and/or document to be sent to you may be by way of electronic communication and you shall be considered to have received any such communication and/or document:

  • at the time of posting of such communication on our Website and/or the Platform or such other time as may be prescribed in such communication;
  • at the time of which the email containing such communication and/or document is sent to you or such other time as may be prescribed in the email;
  • at the time of posting (whether through ordinary post or otherwise) such communication and/or document to you or such other time as may be prescribed in such communication and/or document;
  • through such other means at such times as the Company may prescribe from time to time.
For any other information or support, please contact us:
  • by email: care@trustin.ae; or
  • by post to the following address: Trustin Limited, Office 512, Level 11, Al Sarab Tower, Abu Dhabi Global Market Square, Al Maryah Island, Abu Dhabi, United Arab Emirates.

In the event on any change to the Terms and/ or the Escrow Terms, the Company shall inform the Registered User(s) and provide a copy of the revised Terms and/or Escrow Terms to the registered email of the Registered User(s) within 2 months of such revision.

Assignment

The Company may, at any time, assign, mortgage, charge or otherwise transfer any or all of our rights and obligations under the Terms and Escrow Terms without restriction.

You may not assign, mortgage, charge or otherwise transfer any of your rights and obligations under the Terms (including the Account granted to you under these Terms) and Escrow Terms without the prior written consent of the Company and any attempted assignment mortgage, charge or otherwise transfer in violation of the Terms and Escrow Terms shall be null and void.

Severability

If any provision of the Terms and Escrow Terms or part thereof is rendered void, invalid, illegal or unenforceable by the Applicable Laws to which it is subject or by a decision of a court of competent jurisdiction (“Affected Provision”), the Affected Provision shall be rendered void, invalid, illegal or unenforceable only to that extent and it shall in no way affect or prejudice the enforceability of the remainder of the Affected Provision or the other provisions of the Terms and Escrow Terms.

Waiver

No failure or delay to exercise or enforce any right conferred upon the Company under the Terms and Escrow Terms shall be deemed to be a waiver of any such rights or operate so as to bar the exercise or enforcement thereof at any subsequent time or times.

Any waiver of any right arising from a breach or non-performance of the Terms and Escrow Terms or arising upon default under the Terms and Escrow Terms granted to you shall be null and void unless made in writing and signed by the Company.

Translation

If the Terms and Escrow Terms are translated into a language other than the English language and there is any conflict or inconsistency between such translation and the English text, the English text shall prevail.

Rights of Third Parties

Save for an Affiliate of the Company, no person or entity who is not a party to the Terms and Escrow Terms shall have any right under the Applicable Laws to enforce the Terms and Escrow Terms or any part thereof, regardless of whether such person or entity has been identified by name, as a member of a class or as answering a particular description.

For the avoidance of doubt, any amendments to the Terms and Escrow Terms in accordance with the provisions herein shall not require any consent from any person or entity (including any Affiliates) who is not a party to the Terms and Escrow Terms.

Nothing in paragraph ‎above shall affect the rights of any permitted assignee or transferee under the Terms and Escrow Terms.

Governing Law and Jurisdiction

The Terms and Escrow Terms shall be governed by and construed in accordance with the laws of the Abu Dhabi Global Market.

In the event of any claim, dispute or difference (“Dispute”) that may arise out of or in connection with the Terms and Escrow Terms (including any question relating to the existence, validity of the termination of the Terms and Escrow Terms), the Platform and/or the Services, you agree to enter into negotiations with the Company in good faith to resolve such Dispute within 30 days (“Good Faith Negotiations”). The Good Faith Negotiations shall be conducted wholly in the English language.

Where a Dispute is not resolved within 30 days of the commencement of Good Faith Negotiations, the Dispute shall be referred to and resolved through mediation within 45 days in accordance with the International Chamber of Commerce Mediation Rules, 2015 (as amended) (“ICC Mediation Rules”), the ICC Mediation Rules shall be deemed to be incorporated by reference in this paragraph. The mediation shall be conducted wholly in the English language.

Where a Dispute is not resolved within 45 days of the commencement of mediation proceedings, the Dispute shall be referred to and resolved finally by arbitration administered in accordance with the International Chamber of Commerce Arbitration Rules, 2021 (as amended) (“ICC Arbitration Rules”), the ICC Arbitration Rules shall be deemed to be incorporated by reference in this paragraph. The seat of arbitration shall be the Abu Dhabi Global Market Arbitration Centre (“ADGMAC”). The arbitration shall be conducted by a single arbitrator and wholly in the English language.

Any decision and/or award made by an arbitrator in accordance with these Terms and Escrow Terms shall be final and binding on the parties to such arbitration and the parties to such arbitration expressly waive their rights to appeal any such decision and/or award.

Revision of Terms and Escrow Terms

The Company may, from time to time, amend, restate or supplement the Terms and Escrow Terms (including the Fees) at the sole discretion of the Company, including but not limited to taking into account future developments such as a change in industry trends and/or any changes in legal and/or regulatory requirements applicable to the Company.

Any amendment, restatement, or supplement to the Terms and Escrow Terms shall be available through the Company and on the Website and unless stated otherwise, shall be effective and binding on you upon publication or at such time as may be prescribed by the Company.

You agree that the publication of any amendment, restatement or supplement to the Terms and Escrow Terms through the Website shall be sufficient notice to you and that your continued access and/or use of the Platform and/or the Services after such amendment shall constitute your acceptance of such amendment, restatement or supplement to the Terms and Escrow Terms.

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