Skip to main content

Options Tokenization Agreement

Options Tokenization Agreement on the JETUP Platform

telegram-cloud-document-2-5238162558245957268.jpg

1. General Provisions

1.1. This Options Tokenization Agreement (hereinafter - the "Agreement") is concluded between LLC "JETUP", registered at: Uznadze str., 111, b. 11, Building 2, Didube district, Tbilisi, Georgia (hereinafter - the "Company"), and the User of the JETUP Platform (hereinafter - the "User").

1.2. The subject of this Agreement is the provision by the Company of services to give the User access to the options tokenization tools on the JETUP Platform.

1.3. Terms and definitions:

  • JETUP Platform - information technology system located on the Internet at the address jetup.org.

  • Option - a contract by which one party receives the right, but not the obligation, to buy or sell a certain asset at a certain price within a certain term.

  • Tokenization - the process of creating a digital representation of an option using blockchain technology.

  • Token - a digital representation of an option created as a result of the tokenization process.

2. Subject of the Agreement

2.1. Under the terms of this Agreement, the Company provides the User with access to the tools for tokenizing options belonging to them for the acquisition of shares or stakes in companies.

2.2. The tokenization service consists of providing the User with a simple non-exclusive license rights to use the Company's software and hardware complex, allowing to create digital representations of claim rights from the option contract.

2.3. The result of the tokenization service is the creation of a token, acting as the sole and indisputable means of certifying the rights to receive shares or company stakes in accordance with the terms of the option.

3. Rights and Obligations of the Parties

3.1. The Company undertakes to:

  • Provide the User with access to tokenization tools on the JETUP Platform.

  • Ensure the technical ability to create tokens by the User.

  • Maintain the confidentiality of information about the User's tokenized options.

3.2. The Company has the right to:

  • Make changes and improvements to the tokenization tools without prior notice to the User.

  • Suspend or terminate the User's access to the tokenization tools in case of violation of the terms of this Agreement or the User Agreement of the JETUP Platform.

3.3. The User undertakes to:

  • Use the tokenization tools in accordance with their purpose and the terms of this Agreement.

  • Not transfer access to the tokenization tools to third parties.

  • Independently bear responsibility for the safety of created tokens and access to them.

3.4. The User has the right to:

  • Create tokens for options belonging to them.

  • Dispose of created tokens at their discretion.

3.5. The User is the issuer of tokens issued using the technical capabilities of the Platform.

4. Tokenization Process

4.1. Tokenization of options is carried out by the User independently using the tools provided by the Company on the JETUP Platform.

4.2. To tokenize an option, the User must have a valid option for the acquisition of shares or stakes in a company.

4.3. The tokenization process includes the following stages:

  • Input of data about the option by the User into a special form on the JETUP Platform.

  • Confirmation by the User of the correctness of the entered data.

  • Generation of a token by the JETUP Platform system.

  • Recording of information about the token in the blockchain.

4.4. After completing the tokenization process, the User receives a unique token identifier.

5.1. A token created as a result of option tokenization is a digital representation of the rights provided by the option.

5.2. The token is not a security, financial instrument, or other asset regulated by securities market legislation.

5.3. Possession of a token does not grant its holder any rights in relation to the Company or the JETUP Platform.

5.4. Transfer of a token to another person means transfer of the rights provided by the corresponding option.

6. Liability of the Parties

6.1. The Company is not responsible for:

  • The validity and enforceability of options tokenized by the User.

  • Any losses incurred by the User as a result of using or inability to use the tokenization tools.

  • Loss by the User of access to created tokens.

6.2. The User bears full responsibility for:

  • The accuracy of information provided during the tokenization of options.

  • The safety and confidentiality of access data to created tokens.

  • Any actions with tokens, including their transfer to third parties.

6.3. In case of violation of the terms of this Agreement, the User may be deprived of the right to use the tokenization tools on the JETUP Platform.

7. Confidentiality

7.1. The Parties undertake to maintain the confidentiality of information received in the course of the execution of this Agreement.

7.2. The Company undertakes not to disclose information about the User's tokenized options to third parties, except in cases provided for by legislation.

8. Term of the Agreement and Termination

8.1. This Agreement enters into force from the moment of its acceptance by the User and is valid indefinitely.

8.2. The Company has the right to terminate this Agreement unilaterally in case of violation by the User of its terms or the terms of the User Agreement of the JETUP Platform.

8.3. The User has the right to terminate this Agreement at any time by ceasing to use the tokenization tools on the JETUP Platform.

9. Final Provisions

9.1. This Agreement is governed by and interpreted in accordance with the laws of Georgia.

9.2. All disputes arising from this Agreement or in connection with it shall be resolved in the courts of Georgia in accordance with the current legislation.

9.3. The invalidity of individual provisions of the Agreement does not entail the invalidity of the Agreement as a whole.

9.4. This Agreement is drawn up in Russian. In case of discrepancies between the text of the Agreement in Russian and its translation into any other language, the text of the Agreement in Russian shall prevail.

9.5. The User confirms that they have read, understood, and agree to the terms of this Agreement, and also that they possess all necessary rights and powers to conclude this Agreement.

Last updated: 01.05.2025

Back to top