Source: https://futurobetnetwork.com/user_statute
Timestamp: 2019-08-25 09:21:08
Document Index: 153909539

Matched Legal Cases: ['§2', '§ 2', '§4', '§5', '§6', '§7']

Terms And Conditions | FuturoBet Network
Futurobet Token
Affiliate Program - The program supported by the Organizer defines cooperation in the promotional and advertising activities provided by the Organizer. These activities are intended to promote the Futurobet.com Products
Organizer - DRONER LIMITED – a company registered in the Republic of the Marshall Islands under the number 100062, under the address: The Trust Company of the Marshall Islands, Inc. (TCMI), Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Republic of the Marshall Islands MH 96960.
Website -Internet service with the Futurobet.com offer, made available by the Organizer, containing links to information on Products and Services that enable the use of these Products and Services.
Account - the User's account, created on his request based on the data provided by him, constituting a set of data stored on the Website and in the Service Provider's IT system, concerning a given User and ordered Transactions and contracts concluded.
Table of Commissions - Table constituting Annex No. 1to this contract containing the current rates of remuneration for the Packages.
§2 Principles of functioning of the Program
The purpose of conducting promotional and advertising activities under the Agreement, which take place via the Website and Reports, is to increase the number of Customers who will use the Products offered by the Ownerof Website.
The Owner guarantees that 300,000,000 Futurobets (FTB) have been created - all belonging to the Futurobet.com casino.
All FTB areERC20 compliant tokens on the Ethereum blockchain and are not minable.
The casino will distribute FTB in the following circumstances:
10 FTB to all new players for playing their first game
1 FTB for each placed bet
100 FTB with purchase of the Basic Package(min. price: 250$)
1000 FTB with purchase of the Medium Package(min. price: 1000$)
10000 FTB with purchase of the Ultimate Package(min. price: 5000$)
A maximum of 30,000 Ultimate Package will be available.
The remaining Package (Medium, Basic) will not be limited in supply.
Each Package excluding Ultimate will be available for purchase only once.
The Ultimate Package will be available for purchase without such limitations.
Profit generated by playing a game in the casino, the profit is divided in the following way:
10% (no investment needed)
5% (Basic Packageneeded)
4% (Medium Packageneeded)
4% (Ultimate Packageneeded)
3% (Ultimate Packageneeded)
1% (Ultimate Packageneeded)
Collectively: 40% (30% stays within the company, 30% distributed via Ultimate Packages)
UNILEVEL Package LEVELS:
20% (Basic Packageneeded)
10% (Basic Packageneeded)
5% (Medium Packageneeded)
Collectively: 70% (15% stays within the company, 15% distributed via Ultimate Package’s)
Passive income can be achieved also by referring the most users.
You can take part in affiliation without purchasing Packages, but you will be limited to the first level of affiliation. With the purchase of Packages, you can be a part of 3, 5, or 10 levels of affiliation.
The process of the Client selecting the Referred Link leading to the Service received from the Partner, correct registration of the account by the Referred Client, and it’s being finalized successfully by the Referred Client, increases their Packages of Futurobet(FTB)Cryptocurrency.
28% of income from each game within the casino is divided among all Ultimate Packages owners.
15% of income from the sale of Packages is divided among all Ultimate Packages owners.
.Sources of Passive Income from casino:
Ultimate Packages - gives 50% share of profit of the casino, in accordance with the below formula: 50%*casino profit * (1/ number of sold Ultimate Packages) where the number of sold ultimate matrices is first 1, with a maximum potential of 30,000
Casino profit in this regard refers to: profit from played games + profit from sold Packages
Casino profit in this sense can be exponential. Largest casinos globally generate revenues of over 1 billion USD, which when divided by 30,000 and subtracted by 50% gives 15,000$ annually (per matrix).
Additionally, a large part of the profit will be generated by sales of the Packages, which when compared to the largest companies can generate hundreds of millions of USD annually.
When calculating remuneration, transactions entered into by the Transactional Service will be taken into account though switching to the Owner's Transactional Service by clicking the Referred Customer via a link placed on the Partner's website using these links and advertising banners that have been transferred and assigned to the Partner. In such a situation, the Referred Customer who will perform the game or will join the program is automatically assigned to the Partner, and his activity on the Owner's portal after positive verification will be the basis for calculating and obtaining commissions on principles established in an individual manner in the Annex to agreement.
Ultimate Package generate additional revenue since partners which join not by affiliation will be added to the affiliation of people that have purchased Ultimate Packages, in the order that the Packages were sold. This means that users that have purchased Ultimate Packages at the very beginning will get the most free referrals.
Ultimate Packages generate additional revenue since partners which join not by affiliate relation will be added people Pay-outs:
At the end of the PRELAUNCH phase,
Everyweek during the WARMUP phase,
Everyday during the GO phase (with a possible slight delay).
If the Referred Customer registers in the portal:
will enter the portal from a different link than the one received from the Partner, through paid advertisements, organizer's posts, or other marketing activities conducted by the Organizer,
in any other way than specified in point § 2 3), the link will be overwritten, and the Partner will not be entitled to commission from the Referred Customer and will be qualified as an independent customer. But in such case when a new user will join without any referred link, Organizer will guarantee to draw commission in FBO to one of the member of program.
FTB will be available to trade (buy/sell) on CoinDeal since 1 july 2019 (we will present an agreement proving this) - FTB will be paired with BTC. If over 200,000,000 FTB are distributed prior to the launch of the casino then the launch will be sped up.
FTB will be available for withdrawal from day 1 from the Futurobet platform, even during the pre-launch phase.
Attention - FTB will quickly run out - the casino will buy back FTB on the market to further be able to distribute it to its users. This will lead to an increase in the price of FTB.
When 200,000,000 FTB are distributed the casino will only have 100,000,000 remaining and will buy back FTB to have a constant supply between 50,000,000 and 100,000,000.
In the event that the price of FTB reaches 0.1$ and more, the price of all Packages will proportionally increase. In the event that the price of FTB reaches 1$ the sale of Ultimate Packages will be temporarily put on hold until the price decreases.
§4 Complaint procedure
Complaints regarding functioning under this agreement can be reported to the Organizer only via e-mail.
Complaints will be considered by the Owner within no more than 30 days from the date of its receipt.
Complaints may only apply to Submissions from which have been submitted for no longer than 3 months.
§5 Confidentiality clause
The Partner undertakes to keep all information and data obtained in connection with the conclusion and execution of this contract, the content of all materials resulting from the implementation of this contract, all information of a technical, economic and organizational nature throughout the term of this Agreement and after its completion confidential. Any financial or personal, programs or other information, regardless of their content or form, regarding the Employer, its authorities, subsidiaries or affiliates with the Owner or entities in any other way - legal or factual - related to the Owner or regarding the owner's staff and clients are considered Confidential Information. The personal data of the Owner and his staff are covered by a total and unlimited period of disclosure to third parties.
The Affiliate will protect Confidential Information against any disclosure that may cause damage to the Owner, in particular they will not, directly or indirectly, use trade secrets, organizational or any Confidential Information about the activity of the Owner or entities affiliated with the Owner for purposes other than this agreement.
The disclosure of Confidential Information is permitted only with the prior written consent given by the Owner, unless the information has been made publicly available or its disclosure is required by applicable law.
If in order to perform the subject of the contract it will be necessary to provide Confidential Information to a third party, the Partner, before providing Confidential Information, will ensure that the third party to be provided with Confidential Information undertakes in writing to maintain confidentiality and not to use Confidential Information for purposes other than the execution the subject of the contract - at least to the extent to which the Partner is obliged to do so under this agreement and will obtain the consent of the Owner to provide Confidential Information, given in writing under pain of being declared null and void.
In the event of a breach of the provisions of this paragraph by the Partner, the Owner may demand that the Partner pay a contractual penalty in the amount of USD 10,000 (in words: ten thousand), which does not exclude the Owner's supplementary compensation if the damage suffered by the Partner exceeds the value of the contractual penalty.
§6 The duration of the contract and the terms of its termination
The contract is concluded for an indefinite period and may be terminated by either party at any time.
Each of the Parties shall be entitled to terminate this Agreement without notice in the event of a material breach of the obligations set out in this Agreement by the other Party, for reasons attributable to that Party.
§7 Means of delivery
The owner declares that all correspondence related to this contract should be sent to the address for company deliveries.
The Contractor declares that all correspondence related to this contract should be sent to the address for deliveries of his business activity: The Trust Company of the Marshall Islands, Inc. (TCMI), Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Republic of the Marshall Islands MH 96960.
In case of change of address, each Party is obliged to notify the other Party in writing, indicating the date from which deliveries should be made to the new address, under the pain of effective delivery to the last address indicated.
In matters not covered by this agreement, the regulation and law applicable to the Owner's registered office address shall apply.
Any changes and additions to this contract must be made in writing under pain of being declared null and void.
All disputes related to the conclusion or performance of this contract shall be subject to the decision of the common court competent for the owner's registered office address.
The following attachments constitute an integral part of this contract: 1) Annex No. 1 - commission table.
DRONER LIMITED – a company registered in the Republic of the Marshall Islands under the number 100062, under the address: The Trust Company of the Marshall Islands, Inc. (TCMI), Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Republic of the Marshall Islands MH 96960.