Loans Issuance Rules and Conditions through the Webtransfer Credit Network

1. General Provisions

1.1. These rules establish the procedure for applying for loans, issuing them, and repayment within the decentralized credit network Webtransfer. They also describe additional conditions, not part of the loan terms, but governing their handling.

   1.2. The rules are available for review on the official Webtransfer network site and in the blockchain, ensuring transparency and accessibility of information for all participants.

   1.3. Terms and definitions:

      – Webtransfer Network – a decentralized community of users providing loans through a blockchain platform.

      – Loan – various tokens provided by network participants through smart contracts.

      – Participant – a person using the platform to obtain or provide loans.

      – Application – a request to receive or provide a loan, executed in the form of a smart contract.

      – Credit Certificate – an NFT on the blockchain, confirming the issuance of a loan and the right to receive interest.

      – Verified Data – participant data authenticated through blockchain technology.

2. Participant Requirements and Loan Process

   2.1. Any user who has connected their wallet to the platform can be a participant in the network.

   2.2. All loans are formed and repaid through smart contracts under terms laid down in the blockchain.

   2.3. Loan conditions, including the amount, term, and interest rate, are autonomously determined by participants according to the market situation.

   2.4. Each loan is confirmed by issuing a credit certificate in the form of an NFT, which can circulate on the platform’s internal market.

   2.5. Non-repayment of a loan activates the network’s insurance mechanism, which covers the creditor’s losses through the collateral left by the borrower.

2.6. The rights and obligations of participants are regulated by smart contracts and can be automatically executed by the blockchain platform without third-party intervention.

2.7. In the event of a loan repayment delay, a penalty interest at double the original rate will be applied to the remaining balance until the loan is fully repaid.

3. Participant Eligibility

3.1. Participants in the Webtransfer network must not be residents of the United States of America according to the self-attestation provided during the registration process.

4. Confidentiality and Security

4.1. All transactions and personal data of participants are protected by blockchain technology, ensuring a high level of security and privacy.

4.2. The privacy policy is governed by the legislation of the platform’s country of registration and international standards.

5. Final Provisions

   5.1. The rules may be amended by the network operator provided that participants are pre-notified through official communication channels.

   5.2. In the event of disputes, a mediation procedure within the platform is provided, as well as the possibility of recourse to an arbitration court.