Terms of Service

These Terms of Service (the "Terms") are a legally binding agreement between you and Collext ("Collext", "we", "us" or "our"). They govern your access to and use of our website, our mobile applications, our application programming interfaces, and every feature, product and service we make available through them (together, the "Services").

By creating an account, ticking the box that says you agree to these Terms, or using any part of the Services, you confirm that you have read, understood and accept these Terms, together with our Privacy Policy, our Risk Disclosure and our AML & Acceptable Use Policy, each of which forms part of these Terms. If you do not agree, you must not use the Services.

Please read these Terms carefully. They include important provisions about how trades are settled, when we may hold or reverse balances, how disputes between users are decided, the limits of our liability to you, and how disagreements between you and us are resolved.

Where these Terms say "including", it means "including without limitation". Headings are for convenience only and do not change the meaning of any section.

Collext provides a peer-to-peer ("P2P") marketplace that lets users buy and sell the stablecoin USDT from one another, paying in Ethiopian birr (ETB). The Services include:

• The marketplace: a place where users publish advertisements ("ads") offering to buy or sell USDT at a price and within limits they choose, and where other users open orders against those ads.
• Escrow: when an order opens, we hold the seller's USDT so that it can only be released to the buyer once the buyer's payment has been confirmed, or returned to the seller if the order is cancelled.
• Payment verification: tools that check the buyer's Telebirr or bank-transfer receipt against the order automatically, where that is supported for the payment method used.
• The wallet: a custodial USDT wallet that lets you deposit USDT from, and withdraw it to, supported blockchain networks.
• Support and dispute resolution: staff who help with orders, deposits and withdrawals and who decide disputes between buyers and sellers.

We are not a party to your trades. Each trade is a contract between the buyer and the seller. We provide the venue, the escrow and the verification tools, but we do not buy or sell USDT from or to you through the marketplace, we do not set prices, and we do not guarantee that any ad will be available or that any counterparty will perform.

Fiat money never passes through us. Buyers pay sellers directly, from the buyer's own Telebirr or bank account to the seller's. We do not receive, hold, or transmit birr on your behalf, and we are not a bank, a payment institution, or a mobile-money operator.

We do not give advice. Nothing in the Services is investment, financial, legal or tax advice, and no information we provide is a recommendation to buy, sell or hold any asset.

To use the Services you must:

• be at least 18 years old and have the full legal capacity to enter into a binding contract;
• use the Services only for yourself, and not on behalf of any other person or business unless we have agreed to that in writing;
• not have had an account with us suspended or closed for breaching these Terms, unless we have agreed otherwise;
• not be a person who is the subject of, or located in a country or territory subject to, sanctions administered by the United Nations or by any other authority whose sanctions apply to us; and
• not be prohibited by any law that applies to you from using services like ours.

The Services are designed for users in Ethiopia and currently support payments in Ethiopian birr only. If you access the Services from anywhere else, you do so on your own initiative and you are responsible for complying with your local laws. We may restrict or refuse access from any location at our discretion.

We may ask you at any time to prove that you meet these requirements. If you cannot, or if we reasonably believe you do not meet them, we may refuse to open an account, or may suspend or close your account under section 16.

Opening an account

You need an account to trade. When you register you choose a username, give us an email address and set a password. You must confirm the email address by entering the code we send to it. The information you give us must be true, accurate, current and complete, and you must keep it up to date. You may hold only one account, and you must not create an account using another person's details or for any other person.

Your username

Your username is shown to other users on your ads and orders. It must not impersonate any person or organisation, mislead others about who you are, infringe anyone's rights, or be offensive. We may require you to change a username that breaks this rule.

Keeping your account safe

You are responsible for everything that happens through your account. In particular, you must:

• use a strong password that you do not use anywhere else, and never share it;
• keep control of the email address on your account, because sign-in codes and password reset links are sent to it;
• turn on two-factor authentication with an authenticator app. When it is on, we will ask for a code from it before you withdraw funds or change the payment details and bank accounts on your profile;
• never share sign-in codes, authenticator codes or password reset links with anyone, including anyone who claims to work for Collext;
• sign out of shared or public devices; and
• tell us immediately at [email protected] if you think someone else has accessed your account or knows your password, or if your email account or phone has been lost or compromised.

Collext staff will never ask you for your password, a sign-in code, an authenticator code or a reset link, and will never ask you to send funds to them or to any address to "verify" or "unlock" your account.

Password reset links expire after ten minutes and can be used once. Resetting your password signs you out of every device. We may sign you out, ask you to re-verify your email, or temporarily restrict your account if we detect activity that looks unusual.

We are not responsible for losses caused by someone using your credentials, unless the loss results from our own failure to take reasonable care. If you tell us promptly that your account may be compromised, we will take reasonable steps to restrict it while we investigate.

Identity verification

We may ask you to verify your identity, for example by providing a government-issued identity document, a photo of yourself, or proof that a payment account is in your name. Accounts we have checked may display a "verified" mark. We may limit what you can do until verification is complete, and we may refuse verification for any lawful reason. Our AML & Acceptable Use Policy explains when and why we may request this.

Before you can trade, you must add your Telebirr phone number to your profile. Before you can post an ad to sell USDT, you must also add at least one bank account or mobile-money account where buyers can pay you. You may also save USDT withdrawal addresses for convenience.

You promise that:

• every Telebirr number and bank account you add is held in your own name and is under your sole control;
• the account holder name you enter is exactly the name the bank or operator shows for that account; and
• you will remove an account from your profile if you lose access to it or it is closed.

The details of the account an order pays into are shown to the buyer on that order, so that they can pay you. Orders keep the details they were opened with; editing or removing an account later does not change orders already in progress.

Using a payment account that belongs to someone else, or receiving payments on behalf of another person, is prohibited and may lead to your account being closed and your balances being held while we investigate.

An ad is your public offer to buy or sell USDT. When you post one you set the price per USDT in birr, the minimum and maximum order size, the total amount available, the payment method and, for sell ads, the account buyers should pay into. You may also set a time limit within which buyers must pay.

• Sell ads must be funded. You must have enough USDT available in your wallet to cover the orders taken against your ad. When an order opens, the USDT for that order is locked in escrow and cannot be withdrawn or used elsewhere until the order closes.
• Your ad is a binding offer. When another user opens an order against your ad within its stated limits, you are bound to complete that trade on the terms of the ad. You must not refuse, delay or try to renegotiate an order because the market price has moved.
• Ads must be accurate. The terms in your ad must be complete and truthful. You must not add conditions that contradict these Terms, such as asking buyers to pay to a different account, to pay a third party, or to contact you outside the platform.
• Keep your ads current. Pause or close an ad you can no longer honour. We may hide or close ads that are inactive, that appear misleading, that point to a bank we have switched off, or that breach these Terms.

We decide how ads are ordered and displayed in the marketplace. We may change how ads are ranked at any time, and we do not promise that your ad will be shown in any particular position or to any particular user.

Every order follows the same steps:

1. The order opens. The buyer chooses an amount within the ad's limits and opens an order. The seller's USDT for that amount is locked in escrow immediately.
2. The buyer pays. Within the payment time shown on the order, the buyer sends the exact birr amount shown, from a Telebirr or bank account in the buyer's own name, to the seller account shown on the order. The buyer must not add any reference or note the order does not ask for.
3. The buyer submits proof. The buyer marks the order as paid and gives us the transaction ID, receipt link or confirmation message for the transfer.
4. The payment is verified. Where automatic verification is available for the payment method, we check the receipt against the order: that the transaction is genuine and successful, that the amount matches, that it was paid to the seller's account, that it was made after the order opened, and that the same receipt has not been used before. Where automatic verification is not available, or it cannot reach a result, the seller checks their own account and confirms the payment.
5. Escrow releases. Once the payment is verified or the seller confirms it, the escrowed USDT, less the trade fee, is credited to the buyer's wallet and the order completes.

Buyer obligations

• Pay only after the order has opened, only the exact amount shown, and only to the account shown on the order.
• Pay from an account in your own name. Payments from a third party's account will not be accepted.
• Never mark an order as paid unless you have actually completed the transfer.
• Never reverse, recall or dispute with your bank or operator a payment for an order that has been completed.

Seller obligations

• Keep the account shown on your ad open and able to receive payments.
• Check your account promptly when a buyer reports a payment and release when you have received it.
• Never release before you have received the full amount in your account, and never ask a buyer to cancel an order they have paid for.
• If you receive a payment for an order that is later cancelled, return it to the buyer promptly.

Cancellation and expiry

A buyer may cancel an order before paying. If the buyer does not mark the order as paid within its payment time, the order is cancelled automatically and the escrowed USDT is returned to the seller. Once a buyer has marked an order as paid, it no longer expires on its own: it stays open until the payment is verified, the seller releases, or a dispute is decided. Repeatedly opening orders you do not pay for may lead to restrictions on your account.

Releases are final

Once escrow has been released to the buyer, the trade is complete and cannot be undone through the Services, except where we reverse it under section 12 because of fraud, error, or a legal requirement.

For supported payment methods, currently Telebirr and transfers from the Commercial Bank of Ethiopia, Awash Bank and Dashen Bank apps, we verify receipts automatically by reading the transaction details the payment provider publishes for that receipt. Banks and wallets we support can change from time to time; the current list is shown on the homepage and in the app.

You understand that:

• verification depends on third-party systems that we do not control. They may be slow, unavailable, or return incomplete information. When that happens, verification may be delayed or the seller may need to confirm the payment manually;
• a successful automatic check is strong evidence of payment, but it is not a guarantee by us that the funds have been irrevocably received by the seller;
• a receipt can be used for one order only. Submitting the same receipt for a second order will be rejected; and
• submitting a fake, altered, borrowed or unrelated receipt is fraud. It will result in the order being cancelled and your account being closed, and we may report it to the authorities.

If something goes wrong with an order, for example the buyer says they paid but the seller says the money has not arrived, either party may open a dispute from the order page while the order is awaiting payment or verification. When a dispute is open, the escrowed USDT stays locked until our staff decide it.

Our staff will review the order history, the receipt and verification results, and any evidence either party provides. We may ask either of you for further information, such as a bank statement or a screen recording of your banking app. You must respond honestly and within the time we ask. If you do not respond, we may decide the dispute on the information we have.

We will decide, acting reasonably and in good faith, either to release the escrowed USDT to the buyer or to return it to the seller. Our decision is final as far as the Services are concerned, and we will carry it out on your balances. It does not stop either of you from pursuing the other through the courts, but you agree that we will not be liable to either party for a decision made in good faith.

Opening disputes in bad faith, giving false evidence, or pressuring a counterparty to cancel or release outside the dispute process are breaches of these Terms.

Custody

The USDT in your Collext wallet is held by us in custody on your behalf. Your balance is recorded in our internal ledger, which records every credit, debit, lock and release. Your wallet is not a bank account; balances do not earn interest and are not covered by any deposit insurance or government guarantee scheme.

Supported networks

We currently support USDT on the TRON (TRC-20), BNB Smart Chain (BEP-20), Ethereum (ERC-20) and Aptos networks. We may add or remove networks, and may switch deposits or withdrawals on a network off temporarily, for example during network upgrades or congestion.

Deposits

• Always use the deposit details the app shows you at the time, including the network and, where shown, the exact amount. Each deposit request is matched to you by the address, network and exact amount, and is valid only for the time shown.
• Sending a different token, using the wrong network, sending a different amount, or sending after the request has expired may result in the deposit not being credited automatically, or in permanent loss of the funds. We will try to help recover a mistaken deposit where it is technically and legally possible, but we cannot promise to do so and may charge a reasonable fee for the work involved.
• Deposits are credited after the number of network confirmations we require for that network. If a blockchain reorganisation removes a transaction that had been credited, we will reverse the credit.
• Deposits below the minimum shown for a network may not be credited.

Withdrawals

• You are solely responsible for the destination address and network you enter. Blockchain transactions cannot be reversed. If you send to a wrong, mistyped or incompatible address, the funds will almost certainly be lost and we cannot recover them.
• Each network has a minimum withdrawal amount and a network fee, both shown before you confirm.
• Withdrawals may be reviewed before they are sent, and are subject to daily and per-transaction limits. We may delay or refuse a withdrawal for security, compliance or legal reasons, or where your account has an open dispute or investigation.
• If two-factor authentication is on, every withdrawal requires a valid authenticator code.

Mistaken credits

If USDT is credited to your wallet by mistake, whether through a technical error, a duplicated credit, or an error by us or another user, you are not entitled to it. You must tell us and you authorise us to reverse the credit. If you have already withdrawn or traded it, you must return an equivalent amount when we ask.

• Trade fee: when an order completes, we keep a trade fee calculated as a percentage of the USDT traded. It is deducted from the USDT credited to the buyer. The current rate is shown on the order before you open it, and on our website. At the date of these Terms the rate is 1%.
• Withdrawal fee: each withdrawal carries a fee that depends on the network. It is shown before you confirm and is deducted from your balance together with the amount.
• Posting ads and opening orders are free of charge.
• Payment provider charges: your bank or mobile-money operator may charge you for transfers. Those charges are between you and your provider. A buyer must make sure the seller receives the full amount shown on the order.

We may change our fees and limits, including minimum and maximum deposit and withdrawal amounts. Changes take effect when they are published in the Services and apply to orders opened and withdrawals requested after that time; they never change the fee on an order that is already open.

You authorise us to deduct any fee you owe under these Terms from your wallet balance.

We may place a hold on all or part of your balance, delay or refuse a trade, deposit or withdrawal, or reverse a transaction, where we reasonably believe that:

• the transaction is connected to fraud, a scam, a stolen account, or a payment that has been or is likely to be reversed;
• a credit was made in error;
• you have breached these Terms or our AML & Acceptable Use Policy;
• an investigation, dispute, or request from a court, regulator or law-enforcement authority requires it; or
• it is necessary to protect you, other users, or the security of the Services.

Where the law allows, we will tell you about a hold and why. We will release it as soon as we are satisfied the reason no longer applies. If we confirm that funds in your account are the proceeds of fraud against another user, we may use them to compensate that user.

You must not use the Services, or allow anyone else to use your account, to:

• break any law or regulation, or help anyone else to do so;
• launder money, finance terrorism, evade sanctions, or handle the proceeds of any crime;
• defraud, deceive, threaten, harass or abuse any other user or our staff;
• submit false, altered or someone else's payment receipts, or mark an order as paid when you have not paid;
• pay for or receive payment for orders through accounts that are not in your name;
• arrange to complete a trade outside the platform with someone you met through the marketplace, or ask a counterparty to contact you outside the platform to avoid escrow or fees;
• create more than one account, use another person's account, or buy, sell or transfer accounts;
• manipulate prices, place ads you do not intend to honour, or trade with yourself;
• access the Services by automated means such as bots, scrapers or scripts, except through interfaces we publish for that purpose and within the limits we set;
• probe, scan or test the vulnerability of the Services, interfere with their operation, overload them, or try to gain access to any account, system or data you are not authorised to access;
• reverse engineer, copy, or create derivative works of the Services, except as the law expressly allows; or
• use the Services in any way that could damage our reputation or expose us or other users to legal liability.

If you find a security vulnerability, please report it to us privately at [email protected] and give us reasonable time to fix it before telling anyone else. We will not take action against you for good-faith research that follows this approach and does not harm users or their data.

The Services rely on systems run by others, including Telebirr, banks, blockchain networks and their node and data providers, hosting providers, and email providers. We are not responsible for the availability, accuracy or conduct of those third parties, or for losses caused by their failure, except to the extent that we caused or contributed to the loss.

USDT is issued by a third party, not by us. We do not control USDT, guarantee its value or its redemption, or guarantee that it will continue to be supported on any network. If a network or token undergoes a fork, migration, freeze or similar event, we will decide in our reasonable discretion whether and how to support it, and we will tell you where we can.

The Services, including their software, design, text, graphics, logos and the Collext name and brand, belong to us or our licensors and are protected by intellectual-property laws. We give you a limited, personal, non-exclusive, non-transferable and revocable licence to use the Services for their intended purpose in line with these Terms. You must not use our name, logo or brand without our written permission.

If you send us feedback or suggestions, we may use them freely and without any obligation to you.

Closing your account yourself

You can ask us to close your account at any time by writing to [email protected] from the email address on your account. Before we close it you must finish or cancel any open orders, close your ads, and withdraw your balance. We will keep records as described in our Privacy Policy.

When we may suspend or close your account

We may suspend, restrict or close your account, with or without notice, if:

• you breach these Terms or any of the policies that form part of them;
• we reasonably suspect fraud, money laundering, or other illegal activity involving your account;
• you give us false or misleading information, or fail to complete verification we have asked for;
• a court, regulator or law-enforcement authority requires us to;
• your account has been inactive for a long period; or
• we stop providing the Services, or part of them, in your location.

Where we close your account and the law allows, we will let you withdraw your remaining balance to a wallet address in your control, after deducting any fees and amounts you owe, unless the funds are subject to a hold under section 12 or a legal order.

Sections of these Terms that by their nature should continue after your account closes, including those on fees owed, holds and reversals, liability, indemnity and governing law, will continue to apply.

We work hard to keep the Services secure and available, but we provide them "as is" and "as available". To the fullest extent the law allows, we make no promise that the Services will be uninterrupted, timely, free of errors, or free of harmful components, or that any information in them is complete or accurate. Prices, rates and market information shown in the Services are for information only.

We may carry out maintenance, upgrades and emergency fixes, which may make the Services temporarily unavailable. We will try to give notice of planned maintenance but cannot always do so.

Trading crypto-assets carries significant risk. You should read our Risk Disclosure and decide for yourself whether using the Services is right for you.

Nothing in these Terms limits or excludes our liability for fraud, for death or personal injury caused by our negligence, or for anything else that cannot be limited or excluded by law.

Subject to that, we are not liable to you for:

• the acts, omissions or default of any other user, including a counterparty who fails to pay or to release;
• changes in the market value of USDT or any other asset;
• losses caused by you, including by sending funds to a wrong address or network, or by sharing your credentials;
• losses caused by the failure of third-party systems described in section 14;
• losses caused by events beyond our reasonable control, such as network outages, power failures, natural disasters, war, civil unrest, or acts of government;
• loss of profit, revenue, business, goodwill or opportunity, or any indirect or consequential loss.

Our total liability to you for all claims arising out of or in connection with the Services or these Terms, in any twelve-month period, is limited to the greater of (a) the total trade and withdrawal fees you paid us in that period and (b) the value of the specific USDT affected by the event that gave rise to the claim, valued at the time of that event.

You agree to compensate us, our staff and our service providers for any claim, loss, liability, penalty or reasonable cost, including legal fees, that arises from your breach of these Terms, your breach of any law, your trades with other users, or your infringement of anyone else's rights.

You are responsible for working out, reporting and paying any taxes that apply to your trades, deposits and withdrawals. We may be required to report information about your account to tax authorities, and we may withhold amounts where the law requires us to.

We may change, add or remove features of the Services at any time. We may also update these Terms, for example to reflect changes to the Services, to the law, or to our business.

When we make a material change we will tell you, by email or by a notice in the Services, before it takes effect, unless the change is required urgently by law or for security reasons. The "Last updated" date at the top of this page shows when these Terms were last changed. If you continue to use the Services after a change takes effect, you accept the updated Terms. If you do not accept them, you must stop using the Services and may close your account.

You agree that we may communicate with you electronically, by email to the address on your account and by notices in the Services. Messages about your account, security, orders and changes to these Terms are part of the Services and you cannot opt out of them while you have an account.

We will only ever contact you from addresses on the moonpaypro.com domain. Be wary of messages that claim to be from us but come from anywhere else.

If you have a complaint about the Services, please contact us first at [email protected]. We will acknowledge it promptly and try to resolve it fairly and quickly.

These Terms, and any disagreement arising from them or from your use of the Services, are governed by the laws of the Federal Democratic Republic of Ethiopia. Subject to any rights you have under mandatory law, the courts of Addis Ababa have exclusive jurisdiction.

• Entire agreement: these Terms, with the policies they refer to, are the whole agreement between you and us about the Services.
• Transfer: you may not transfer your rights or obligations under these Terms. We may transfer ours to another organisation, for example as part of a reorganisation or sale, provided your rights are not reduced.
• Severability: if any part of these Terms is found to be unenforceable, the rest will remain in effect.
• No waiver: if we do not enforce a right straight away, we can still enforce it later.
• Language: these Terms are written in English. If we provide a translation, the English version prevails if there is any conflict.

Questions about these Terms, or anything else about the Services, can be sent to [email protected]. For help with a specific order, include the order ID shown on the order page.