Version 2.0 as of 01.12.2024
These Terms and Conditions ("Terms") govern the use and operation of franchise licenses provided by Real Hub Tech Distribution Ltd. ("Real Hub," "we," "us," or "our"), a company in the process of incorporation, based in Northern Cyprus. By purchasing a Real Hub franchise license in the form of blockchain assets (BA), containing identifying information recorded in a smart contract, franchisee agencies and affiliates ("Agency," "you," or "your") agree to comply with and be bound by these Terms.
1. Overview of Franchise License
1.1 Franchise Licensing: Real Hub sells and manages real estate franchise licenses, available in the form of blockchain assets, identified in a smart contract. These licenses allow Agencies and their affiliates to benefit from the profits of real estate transactions within Real Hub's portfolio.
1.2 Digital Representation of Licenses: BAs serve as the digital representation of franchise licenses and confer specific rights as outlined in these Terms, including profit participation, automatic distribution, and management limitations based on time, size, and geographic territory.
1.3 Non-Transferability: BAs are non-transferable unless expressly permitted by Real Hub in writing. Unauthorized transfers will result in automatic termination of the license.
2. Profit Participation and Distribution
2.1 Profit Participation Rights: Agencies holding a BA franchise license are entitled to a portion of profits from real estate sales within Real Hub's portfolio, as specified in the license terms associated with the BA.
2.2 Automatic Distribution Engine: Profit distributions are processed automatically and transferred to each Agency and its affiliates in the form of Fungible Digital Assets. The distribution frequency is determined by Real Hub, as specified in the BA license terms.
2.3 Digital Asset Currency: Profit distributions are paid in a Fungible Digital Asset type linked to the BA license. Real Hub reserves the right to change the Fungible Digital Asset currency based on market conditions and availability, and Agencies will be notified of any currency adjustments.
2.4 Tax Withholding: Real Hub reserves the right to deduct applicable taxes or governmental fees from profit distributions if required by law.
2.5 Audit Rights: Real Hub reserves the right to audit Agencies' financial and operational records to ensure compliance with these Terms. Agencies must fully cooperate with such audits.
3. Franchise License Terms and Limitations
3.1 Term of License: Franchise licenses have specific durations stated in the BA terms at the time of purchase. Licenses will expire automatically at the end of the specified term unless renewed or extended by purchasing a new BA.
3.2 Size and Scope Limitations: Franchise licenses may include limitations on the size and scale of operations, such as the maximum number of affiliates or transaction volume. These limitations will be clearly specified in the BA.
3.3 Territory Rights: Certain licenses may be limited to specific geographic regions. Agencies agree to operate within the territory limits set forth in their license terms.
3.4 Prohibition of Sub-Licensing: Agencies may not transfer or sub-license their rights under a BA without Real Hub’s express written consent.
3.5 Compliance Monitoring: Real Hub may monitor Agencies’ activities to ensure adherence to these Terms and applicable laws. Any violations may result in penalties or termination.
4. Agency Responsibilities
4.1 Compliance with Laws: Each Agency is responsible for complying with all applicable local and national tax obligations, fees, and governmental requirements. Real Hub does not provide tax advice and encourages Agencies to seek professional guidance.
4.2 Adherence to Franchise Rules: Agencies and affiliates must adhere to Real Hub’s franchise standards, branding requirements, and code of conduct, as provided by Real Hub, to maintain the integrity of the brand.
4.3 Digital Asset Wallet Security: Agencies are responsible for maintaining the security of their digital asset wallets. Real Hub is not liable for any loss or theft of digital assets due to security breaches within the Agency’s wallet.
4.4 Non-Compete Clause: Agencies may not engage in activities that directly compete with Real Hub during the term of their franchise license and for a period of one year after its termination or expiration.
4.5 Reporting Obligations: Agencies must promptly report any suspected fraudulent or unauthorized activities related to their operations or transactions.
5. Changes to Franchise License Terms
5.1 Right to Modify Terms: Real Hub reserves the right to amend these Terms at any time. Material changes will be communicated to Agencies, and continued holding of the franchise BA implies acceptance of the revised Terms.
5.2 Adjustments to Profit Distribution: Real Hub may, at its discretion, modify the method or frequency of profit distributions, subject to providing prior notice to Agencies.
5.3 Force Majeure: Real Hub is not liable for any delay or failure to perform obligations under these Terms due to events beyond its reasonable control, including but not limited to natural disasters, acts of war, or changes in applicable law.
5.4 Termination for Legal Non-Compliance: If any provision of these Terms is deemed unenforceable by law, Real Hub reserves the right to terminate the agreement with affected Agencies.
6. Termination and Expiration
6.1 License Expiration: Franchise licenses expire automatically at the end of the designated term stated in the BA. Upon expiration, Agencies lose all rights to profit participation and brand use associated with the license.
6.2 Termination for Breach: Real Hub reserves the right to revoke an Agency’s franchise license if the Agency breaches any of these Terms or fails to comply with regulatory obligations. In such cases, the BA will be voided, and the Agency will no longer receive profit distributions.
6.3 Agency Withdrawal: Agencies may voluntarily terminate their license by notifying Real Hub in writing. Termination does not entitle the Agency to a refund or any compensation for unrealized profits.
6.4 Asset Confiscation: In cases of fraud or breach of terms, Real Hub reserves the right to confiscate or nullify the Agency’s blockchain assets.
7. Intellectual Property Rights
7.1 Ownership: All trademarks, trade names, logos, and other intellectual property associated with Real Hub are the sole property of Real Hub and may not be used without prior written consent.
7.2 License Grant: Agencies are granted a limited, non-exclusive, revocable license to use Real Hub’s intellectual property solely for purposes related to their franchise operations.
7.3 Protection of Intellectual Property: Agencies must promptly report any unauthorized use or infringement of Real Hub’s intellectual property.
7.4 Prohibition on Derivative Works: Agencies may not create derivative works based on Real Hub’s intellectual property without explicit written permission.
8. Disclaimers and Limitation of Liability
8.1 No Warranty: Real Hub provides franchise licenses and related services "as-is" without warranties, express or implied, including but not limited to implied warranties of merchantability, fitness for a particular purpose, or non-infringement. The services provided by Real Hub should not be considered as providing an investment product. Real Hub does not guarantee profitability.
8.2 Limitation of Liability: To the maximum extent permitted by law, Real Hub shall not be liable for any direct, indirect, incidental, special, or consequential damages arising from or related to any franchise license purchase, profit distribution, or other transactions under these Terms.
8.3 Indemnification: Agencies agree to indemnify and hold harmless Real Hub and its affiliates from any claims, liabilities, or damages arising out of or related to their breach of these Terms.
8.4 Third-Party Services: Real Hub may engage third-party providers for certain operational and technical support. Real Hub is not liable for any delays or disruptions caused by these third-party services.
8.5 Cybersecurity Disclaimer: Real Hub disclaims liability for losses resulting from cybersecurity breaches affecting Agencies’ operations, wallets, or related digital assets.
9. Governing Law and Dispute Resolution
9.1 Governing Law: These Terms are governed by the laws of Northern Cyprus.
9.2 Dispute Resolution: Any disputes arising out of or in connection with these Terms shall be resolved through binding arbitration in Northern Cyprus, conducted in the English language in accordance with local arbitration laws.
9.3 Class Action Waiver: Agencies agree to resolve disputes on an individual basis and waive the right to participate in class-action lawsuits against Real Hub.
9.4 Mediation Requirement: Before initiating arbitration, parties agree to attempt to resolve disputes through good-faith mediation.
10. Contact Information
For any questions or concerns regarding these Terms, please contact Real Hub Tech Distribution Ltd at:
11 Hasane Ilgaz Sokak, Köşklüçiftlik, Lefkoşa KKTC
This document supersedes all previous versions of Real Hub’s Terms and Conditions. Issued before 12.12.2024