Terms and Definitions in the Bitbon System

Bitup-Agency

Bitup-Agency is a Bitbon System User[i] that is authorized 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 Bitbon System User in the status of a Bitup-Agency has the right to independently determine the cost of services for performing the functions of a Bitup-Agency when preparing for the IBO, as well as for further servicing the Contractat’s activity when fulfilling his/her obligations under the terms and conditions of the Projectbon Protocol of a specific business project that this Bitup-Agency supervises.

In accordance with Clause 58[i] of the Bitbon System Public Contract[i], the Bitbon System User in the status of a Bitup-Agency has the right, at his/her own discretion, to determine the cost of services for performing the functions provided for in the Appendix “Bitup-Agency’s Functions in the Bitbon System”, as well as other services stipulated in the Bitbon System Public Contract and/or digital asset protocols[i] and/or service token protocols[i]. At the same time, mutual settlements for such services are carried out within the Bitbon System exclusively in digital assets[i].

Basic functions of the Bitup-Agency:

  1. Providing services for the creation of digital assets and service tokens[i] in the Bitbon System.
  2. Conducting a comprehensive analysis of an access token[i] or a service token in order to assign the corresponding certificate in the Bitbon System.
  3. Providing advisory services to the Bitbon System Users regarding business projects at all stages of their implementation.
  4. Evaluating the Contractat’s business project to determine the validity of the proposed business model.
  5. Preparing and supervising the Business Plan of the project[i] in accordance with the basic international rules of conducting commercial activity.
  6. Drawing up the terms and conditions of the Projectbon Protocol in accordance with the Business Plan of a specific project approved by the Contractat.
  7. Admitting the Contractat’s project to the IBO and supervising its implementation in the Bitbon System.
  8. Supervising distribution of the Bitbon[i] accounting units 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.
  9. Legal analysis of the Contractat’s business project.
  10. Providing additional information during the IBO process at the request of the Contributor, which confirms the validity of the Business Plan of a specific project.
  11. Controlling the fulfillment of the Contractat’s obligations to the Contributors under the terms and conditions of the Projectbon Protocol of a specific project.
  12. Verification of Bitbon System Users[i] as part of the KYC (Know Your Customer) procedure in accordance with international standards.
  13. Restoring access of the Bitbon System User to his/her Bitbon System account[i].
  14. Ensuring the implementation of the procedure for inheriting digital assets of the Bitbon System[i].