- OTC Transaction Regu
UDAE-Transaction Regulations（OTC）: Notice of buyer： 1、If the buyer cancels the order or the order is cancelled due to timeout, the buyer will get one cancellation record. 2、Should there be 3 cancelled orders, the taker(buyer) will be barred from buying digital assets in a single day. 3、Should there be 3 cancelled orders, the maker(buyer) will be barred from buying digital assets in a single day. 4、DO NOT CLICK “I’ve paid” if payment is uncompleted, since this is considered as a malicious act. Should there be any appeals towards malicious confirmation of payment, the seller can refuse the transaction. If the circumstances are grave, we will freeze the buyer’s account. 5、Please complete payment by using your own beneficiary account. If you use others’ beneficiary account for payment, the seller is entitled to cancel the transaction after the refund. 6、In order to complete the transaction timely, real-time payment is suggested since there’ll be a quick arrival. 7、Please check the buyer's acceptable payment methods and transfer money to the exact beneficiary account of the seller. The buyer needs to hold all the possible risks if transferring money to an account that is not stated in the seller’s trade terms. 8、Digital assets corresponding to pending orders will be locked, waiting for buyer's payment and then seller's release. If no digital assets are received 5 minutes after the buyer pays the order and clicks “I’ve paid”, the buyer can click “Appeal” and our CS support will intervene to judge this appeal case. The buyer will gets the owner right of the assets after confirming all the above information. 9、The digital currency asset corresponding to the order in progress will be locked on the platform; if you have completed the transfer and click on “I have paid” for 30 minutes, the seller will not issue a coin, the system will submit an automatic appeal, and you can choose to upload screenshot related evidence. If you fully comply with the above operations, we will determine that the assets belong to you. 10、If there is inconsistency between the real name of the payment account and the real name of the platform certification, the seller has the right to choose the following operations: ①require the buyer and the payer to hold an ID card or passport, etc., and perform a video KYC to prove that the source of funds is legal; ②original refund is not complete; ③Select the appeal and temporarily freeze the digital currency assets. After the appeal is successful, the seller decides to release or refund the original route. If the original route refund is required to upload screenshot-related evidence, after the system confirms, the thawing digital currency assets will be returned to the seller’s account. After the appeal fails, the seller must choose to release or appeal again within 12 hours. The result of the appeal still fails. The platform automatically releases the digital currency assets. If the seller does not choose within 12 hours, the system determines that the transaction is successful and automatically releases the digital currency assets. Note: In the remittance remarks of the transfer, the buyer can note the six-digit payment reference number. The "Payment Reference Number" is only used to identify that the remittance corresponds to the order. If the buyer's remittance is credited to the account, it is regarded as having complied with the transaction rules. Do not fill in keywords such as BTC, Bitcoin, UDAE, etc., otherwise the seller may request a refund not to be executed. Notice to Seller: 1.Please double check you want to sell digital assets at the selling price after setting it. Should there be any appeals arising from price issues, we will judge that the buyer has the owner right of the assets and then transfer them to the buyer. 2.If no payment is received 5 minutes after the buyer clicks “I’ve paid”, the seller can click “Appeal” for further processing. If the buyer clicks the “I’ve paid” button before completing payment, the seller is entitled to cancel the transaction after the refund. 3.When receiving the payment, please check carefully whether the buyer's payment account real-name information is consistent with the platform's real-name information. If you do not agree, please pay attention to the payment risk. When a complaint arises on such orders, the seller can choose to refund the money and refuse to accept the transaction. Because the user accepts non-real-name payments and causes the payment account of others to be frozen, the platform will investigate the source of the problem funds and have the right to freeze the user platform account and cancel the merchant certification qualification. 4. Please carefully check the payment information is consistent with real-name information of the buyer and release the digital assets as soon as you receive the payment. 5. In order to complete the transaction timely, make sure that you can handle orders timely before posting ads. Or you can hide your ad to avoid unnecessary disputes if you cannot ensure enough online time. 6. If the buyer uses others’ beneficiary account for payment, the seller is entitled to: ①Ask the buyer and the owner of the beneficiary account to hold their ID cards or passports for video KYC so as to prove legitimacy of the funds; ②Cancel the order after the refund. Note: For trade disputes, the platform has the final jurisdiction. For malicious freezing of orders, malicious payments, the use of transactions suspected fraud, etc., the platform can choose to freeze the account, if necessary, to assist the judicial authorities to deal with. Merchant users notice: 1. Become a merchant to advertise. 2. If you are not at the side of the device or offline and can't process the order in time, please remove the advertisement in advance. If such an advertisement generates an order, it belongs to a normal order and is processed according to the normal transaction process. 3. When a purchase advertisement is issued, the total number of cancelled orders on the day reaches 3, and the system will limit your buying function on that day. 4. When a purchase advertisement is issued, there are ≥5 unpaid orders, and the purchase advertisement is automatically hidden on the list page; the payment is completed until 2 orders are displayed. 5. The maximum number of transactions for advertising in the legal currency trading area: 20 BTC/200 ETH/200,000 USDT. 6. When the merchant collects payment, please check carefully whether the buyer's payment account real name information is consistent with the buyer's platform real name information. As the merchant accepts non-real-name payments and causes the payment account of others to be frozen, the platform will investigate the source of the problem funds and have the right to freeze the merchant platform account and cancel the merchant certification qualification. All the rules and regulations are subject to change as per actual operations. Please keep following on any updates if present.