Conditions for Settlements

Notification on the Procedure and Conditions for Settlements on the JETUP Platform

1. General Provisions

1.1. This Notification on the procedure and conditions for settlements (hereinafter - "Notification") defines the procedure and conditions for conducting settlements between participants of the JETUP platform (hereinafter - "Platform").

1.2. The JETUP Platform is an information technology system based on blockchain technology and designed for interaction between investors and startups.

1.3. JETUP Company (hereinafter - "Company") acts as an information intermediary and does not directly participate in settlements between Platform users.

2. Definitions

2.1. User - a natural or legal person registered on the Platform.

2.2. Investor - a User who invests in projects on the Platform.

2.3. Startup - a User who attracts investments through the Platform.

2.4. Digital Accounting Units - conditional units used on the Platform to account for mutual obligations of Users.

2.5. Smart Contract - program code that ensures automatic fulfillment of obligations by transaction participants.

3. Procedure for Conducting Settlements

3.1. All settlements on the Platform are carried out by Users independently, without direct participation of the Company.

3.2. Digital accounting units are used for conducting settlements on the Platform.

3.3. Replenishment of the balance of digital accounting units is carried out by the User by transferring fiat monetary funds or cryptocurrencies to the requisites specified by the Platform.

4. Features of Settlements

4.1. The Platform uses two types of accounting accounts: Asset Account and Liability Account.

4.2. The Asset Account is designed to reflect information about digital accounting units available to the User.

4.3. The Liability Account reflects information about mutual obligations of Users.

4.4. When a transaction is made between Users, digital accounting units are automatically debited from the payer's Asset Account and credited to the recipient's Liability Account.

4.5. The Company does not have access to manage Users' digital accounting units and cannot perform operations with them without the User's direct instruction.

5. Commissions and Fees

5.1. A commission may be charged for operations on the Platform, the amount of which is indicated in the User's personal account before the operation is performed.

5.2. The commission is automatically withheld from the operation amount when it is conducted.

5.3. The commission amount may be changed by the Company unilaterally with prior notification to Users.

6. Security of Settlements

6.1. All settlements on the Platform are carried out using blockchain technology, which ensures a high level of security and transparency of operations.

6.2. The User is obliged to independently ensure the safety of their account credentials and access keys to the wallet on the Platform.

6.3. The Company is not responsible for loss of access to an account or wallet by the User as a result of the User's loss of their account credentials or access keys.

7. Limitations

7.1. The Company reserves the right to establish limits on the volume of operations conducted by Users on the Platform.

7.2. In order to comply with the requirements of legislation in the field of countering money laundering and terrorism financing, the Company may request additional information and documents from Users confirming the source of funds.

7.3. The Company has the right to refuse to conduct an operation or block a User's account in case of suspicions of violation of legislation or Platform rules.

8. Taxation

8.1. Users independently bear responsibility for the payment of all applicable taxes associated with their activities on the Platform.

8.2. The Company does not act as a tax agent for Users and does not provide consultations on taxation issues.

9. Dispute Resolution

9.1. All disputes arising between Users in the process of settlements are resolved by them independently without the participation of the Company.

9.2. In case of impossibility to resolve a dispute between Users, they have the right to appeal to the competent authorities in accordance with the legislation of Georgia.

10. Final Provisions

10.1. This Notification is an integral part of the Platform's User Agreement.

10.2. The Company reserves the right to make changes to this Notification unilaterally, notifying Users by publishing an updated version on the Platform's website.

10.3. Continued use of the Platform after changes are made to the Notification means the User's agreement with the changes made.

10.4. In case of disagreement with the changes, the User is obliged to stop using the Platform and withdraw their funds in the manner provided for by this Notification.

Last updated: 01.05.2025