Terms and Definitions

Promoter of Bitbon Public Contracts means a Bitbon System Participant[i], who has the right in the Bitbon System[i] to provide full range of mechanisms on his/her public internet resources to implement the IBO[i] (Initial Business Offering) and Contributing[i] processes.

In accordance with Clause 47[i] of the Bitbon System Public Contract[i], Bitbon System Participants in the status of a Promoter of Bitbon Public Contracts receive remuneration designated exclusively in Projectbons[i] in the amount of 10% of the Bitbon Capitalization Fund’s[i] share, i.e. the share which has been received in Projectbons in the process of automatic Contributing, in accordance with the class of Bitbon Public Contracts[i] of specific projects. The established remuneration is distributed among Promoters of Bitbon Public Contracts in proportion to the amount of Projectbons that Contributors[i] have exchanged for Bitbons[i] using the mechanisms for implementation of the IBO and Contributing provided separately by each Promoter of Bitbon Public Contracts.

In accordance with Clause 48[i] of the Bitbon System Public Contract, the Bitbon System Participant in the status of a Contractat[i] may determine the amount of remuneration designated in Bitbons in favor of Promoters of Bitbon Public Contracts in the Contributing process under the terms and conditions of the Bitbon Public Contract of his/her project.

Bitbon System Participant means an individual, i.e., a person, a participant of civil and other legal relations (holder of rights and obligations), or a Company (legal entity registered and operating in accordance with the requirements of jurisdiction of which it is a taxpayer), or a Company consolidation (any company consolidation registered and operating in accordance with the requirements of jurisdiction of which it is a taxpayer) that have directly performed an action, which has entailed an event within the Bitbon System.
Bitbon System means an integral decentralized system based on the Blockchain technology, which is basically a platform for implementing Contributing under the terms and conditions of Bitbon Public Contracts of various projects and managing legal relations between the Bitbon System Users, the key component of which is Bitbon.
IBO (Initial Business Offering) means a process in the Bitbon System, in which three parties take part: Contractat, Bitup-Agency and Contributors. The IBO process starts when the Bitup-Agency publishes the Bitbon Public Contract of a specific project to raise the required amount of Bitbons from Contributors in exchange for Projectbons in order to implement this business project. The IBO process is completed when Contributors determine their shares in the amount of 100% of the total number of Projectbons. From this moment on, the terms and conditions of the Bitbon Public Contract of this business project automatically come into force. After that, the Contractat begins to fulfill his/her obligations aimed at successful implementation of the project.
Contributing means a type of activity of a Bitbon System User aimed at receiving additional income from participation in the implementation of the selected business project under the terms and conditions of the Bitbon Public Contract of this project. The Contributing process starts when the User exchanges available Bitbons for Projectbons. The value of the Contributor’s Benefit is directly proportional to his/her share in Projectbons. The benefits of Contributing are shown as the income received in accordance with the amount of Projectbons that the Contributor is entitled to dispose of, at his/her sole discretion, at any stage of the business project implementation.
Clause 47. The Bitbon System Participant in the status of a Promoter of Bitbon Public Contracts undertakes obligations to provide full range of mechanisms on the public internet resources he/she owns to implement the IBO (Initial Business Offering) and Contributing processes. As the founder of the Bitbon System, Simcord Company in favor of all Bitbon System Participants in the status of a Promoter of Bitbon Public Contracts establishes remuneration designated exclusively in Projectbons in the amount of 10% of the Bitbon Capitalization Fund's share, i.e. the share which has been received in Projectbons in the process of automatic Contributing, in accordance with the class of Bitbon Public Contracts of specific projects. The established remuneration is distributed among Promoters of Bitbon Public Contracts in proportion to the amount of Projectbons that Contributors have exchanged for Bitbons using the mechanisms for implementation of the IBO and Contributing provided separately by each Promoter of Bitbon Public Contracts.
Bitbon System Public Contract means a digital document, a basic foundation agreement between Simcord Company and all Bitbon System Participants.

This agreement identifies tasks and objectives of the Bitbon System, determines and establishes the basis for its development as well as stipulates a set of basic terms and conditions, fulfillment of which is mandatory for all Bitbon System Participants.

Projectbon means a derivative instrument from a specific class of the Bitbon Public Contract intended for Contributing, which has unique attributes and properties with the ability to circulate only in the Bitbon System under the terms and conditions specified in the Bitbon Public Contract of a specific project. Projectbon represents obligations of the Contractat to the Bitbon System Users expressed in a legal form as well as an actual opportunity to monitor the fulfillment of obligations of the Bitbon System Users as a whole.
Bitbon Capitalization Fund means a component of the Bitbon System whose Assets are designated in Bitbons and Projectbons and which, like the Bitbon System as a whole, belongs to all Bitbon System Users in parts equal to the Bitbon amount in the Assetboxes of these Users. The purpose of the Bitbon Capitalization Fund is to provide a mechanism that allows the Bitbon System Users to directly manage the Bitbon System in the interests of all its participants in order to increase the volume of the Bitbon Capitalization that is generated through automatic Contributing of the Bitbon Capitalization Fund to Projectbons of specific projects on the basis of their admission to the IBO (Initial Business Offering) by Bitup-Agencies.
Bitbon Public Contract means a digital document of a certain class according to the classifier accepted in the Bitbon System, which defines and regulates: rights and obligations of the Contractat, Bitup-Agency and Contributors as well as the procedure, manner and conditions of their relations as three parties to the Bitbon Public Contract of a specific project; field of Projectbon use as well as all products and operations that may be applied to Projectbon. The Bitbon Public Contract of a specific project can define the terms and procedures for Projectbon issuing, Bitbon and Projectbon transfer rules, procedure for repurchasing Projectbons from the Contributor as well as the reference to the procedure for evaluating Assets.
Contributor means a Bitbon System User who exchanges his/her Bitbons for Projectbons to receive a certain amount of benefit from Contributing and thereby participates in the implementation of the selected business project.
Bitbon means a digital derivative financial instrument having an identifier and nominal value in the amount determined in accordance with the procedure stipulated by the Bitbon Public Contract, which corresponds to a certain part of property rights to Assets designated in Bitbons or Projectbons. Any operations with Bitbon (Bitbon issuing, its transfer from one owner to another, splitting of nominal value and other operations) are recorded in the Blockchain as data that cannot be deleted or modified.
Clause 48. Under the terms and conditions of the Bitbon Public Contract of his/her project, the Bitbon System Participant in the status of a Contractat may determine the amount of remuneration designated in Bitbons in favor of Promoters of Bitbon Public Contracts in the Contributing process.
Contractat means a company (legal entity registered and operating in accordance with the requirements of jurisdiction of which it is a taxpayer), or an individual, i.e. a person, participant of civil and other legal relations (holder of rights and obligations). The Contractat initiates creation of the Bitbon Public Contract of his/her own project, which is accepted into the Bitbon System on the basis of admission to the IBO (Initial Business Offering) by the Bitup-Agency.