Bitup-Agencymeans a Bitbon System User[i], which has the right to perform the Asset Digitization Procedure[i], as well as to make a decision on the admission of the Contractat’s[i] project to the IBO[i] (Initial Business Offering) and to supervise its implementation in the Bitbon System[i] under the terms and conditions of the Projectbon Protocol[i] of a specific business project by representing and protecting the interests of Contributors[i] of this business project.
The Projectbon Protocol of a specific business project defines additional rights and obligations of the Bitup-Agency including control over the backing and repurchasing of Projectbons[i] from Contributors through Assets[i] in cases stipulated in the Projectbon Protocol of a specific project.
In accordance with Clause 56[i] of the Bitbon System Public Contract[i], the Bitbon System Capitalization Fund[i] transfers 10% from the number of Projectbons received by the Fund in the process of automatic Contributing[i] to the Bitup-Agency’s ownership in accordance with the class of the Projectbon Protocol of this business project, Thus, the Bitup-Agency automatically receives the status of a Contributor of a specific project and takes part in the Obventing[i] process.
In accordance with Clause 58[i] of the Bitbon System Public Contract, the Bitbon System User in the status of a Bitup-Agency has the right, at his/her own discretion, to determine costs of services for performing the Asset Digitization Procedure and functions of the Bitup-Agency while preparing for the IBO as well as to determine costs of further servicing of the Contractat’s activity when fulfilling his/her obligations in accordance with the terms and conditions of the Projectbon Protocol of a specific business project, which the given Bitup-Agency supervises.
Basic functions of the Bitup-Agency:
1. Performance of the Asset Digitization Procedure.
2. Provision of consulting services to the Bitbon System Users regarding business-projects at all stages of their implementation.
3. Evaluation of the Contractat’s business project to determine the validity of the proposed business model.
4. Preparation and supervision of the business plan in accordance with the basic international rules of conducting commercial activity.
5. Drawing up the terms and conditions of the Projectbon Protocol of a specific project in accordance with the business plan approved by the Contractat.
6. Admission of the Contractat’s project to the IBO and supervision of its implementation in the Bitbon System.
7. Control of the Bitbon distribution at all stages of the business project implementation and fulfillment of all obligations by the Contractat under the terms and conditions of the Projectbon Protocol of this project.
8. Legal analysis of the Contractat’s business project.
9. Provision of additional information during the IBO process at the request of the Contributor, which confirms the validity of the Contractat’s business plan.
10. Controlling the fulfillment of the Contractat’s obligations to the Contributors under the terms and conditions of the Projectbon Protocol of a specific project.