Terms and Definitions

Bitup-Agency

Bitup-Agency means 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 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 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. Conducting the Asset Digitization Procedure.
  2. Providing advisory services to the Bitbon System Users regarding business projects at all stages of their implementation.
  3. Evaluating the Contractat’s business project to determine the validity of the proposed business model.
  4. Preparing and supervising the Business Plan of the project[i] in accordance with the basic international rules of conducting commercial activity.
  5. Drawing up the terms and conditions of the Projectbon Protocol in accordance with the Business Plan of a specific project approved by the Contractat.
  6. Admitting the Contractat’s project to the IBO and supervising its implementation in the Bitbon System.
  7. Supervising 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. 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.
  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.
  11. Verification of the Bitbon System Users as part of the KYC procedure in accordance with international standards.
  12. Restoring access to the Bitbon System User’s account.
  13. Ensuring the implementation of the digital asset inheritance procedure in the Bitbon System.