NamZoed Application: Terms of Service

Welcome to NamZoed, Bhutan’s local commerce and services platform (the “App”). Please read these Terms of Service (“Terms”) carefully. By registering for an account, accessing, or using the App, you agree to be bound by these Terms. If you do not agree to these Terms, you may not use the NamZoed App.

1. Acceptance of Terms

By clicking “I Agree” or “Sign Up,” you affirm that you have read, understood, and agreed to be legally bound by these Terms and the associated Privacy Policy.

2. The NamZoed Service

NamZoed operates as a digital marketplace and directory service.

Our Role: NamZoed’s primary function is to provide a platform that connects Buyers (seeking products or services) and Sellers/Service Providers (listing products or services) within Bhutan and the world. We facilitate connection, communication, and listing.

Our Limitation: NamZoed is not a traditional retailer, auctioneer, or service provider. We do not hold inventory, set prices, execute final payments, or guarantee the quality or legality of items or services listed. NamZoed is not a party to the actual transaction between Buyers and Sellers.

3. Account Registration and Security

3.1. Eligibility: You must provide accurate, complete, and current information during registration.

3.2. Security: You are responsible for safeguarding your password and any activities or actions under your account. You agree to notify NamZoed immediately if you suspect any unauthorized use of your account.

3.3. Single Account: Users may maintain only one active account. Sellers may operate a business account alongside a personal buyer account, provided all information is transparent and accurate.

4. Rules for All Users (Buyers and Sellers)

4.1. Lawful Use: You agree to use the App only for lawful purposes. You must not list, purchase, or exchange any item or service that violates any law of the Kingdom of Bhutan or your relevant jurisdiction.

4.2. Respectful Conduct: All communications on the App (including chat and live streams) must be respectful, honest, and professional. Harassment, abuse, discriminatory, or offensive language is strictly prohibited.

4.3. No Fraud: You shall not manipulate the platform, pricing, listing descriptions, or reviews, or engage in any fraudulent activity.

5. Specific Rules for Sellers and Service Providers (Tshongpas)

5.1. Accurate Listings: Listings must accurately and clearly describe the item or service, including its condition, price, and location. Photos must be of the actual product or represent the service offered.

5.2. Legality of Goods: Sellers are solely responsible for ensuring that all listed products are legal, not counterfeit, and safe for sale and use. Prohibited items include (but are not limited to) - illegal drugs, stolen goods, weapons, pornography, and items infringing on intellectual property rights.

5.3. Transaction Obligation: If a transaction is agreed upon, the Seller must fulfill the order or service as described in the listing and within the agreed timeline.

5.4. Taxes and Fees: Sellers are solely responsible for all taxes, fees, and regulatory requirements associated with the sale of their goods and services in Bhutan and the world. NamZoed is not responsible for filing or calculating these liabilities.

6. Financial & Payment Regulations (The Trusted Wallet)

6.1. Know Your Customer (KYC) and Anti-Money Laundering (AML): NamZoed is committed to complying with all financial regulations set by the Kingdom of Bhutan to prevent fraud and illegal financial activity.

6.2. User Verification (KYC): All Sellers (Tshongpas) and users transacting above certain financial limits must undergo mandatory verification. This process requires submitting valid documents, such as a Bhutanese Citizenship ID, Business License, or Tax Registration Certificate. Verification is essential for maintaining a high-trust environment.

6.3. Transaction Monitoring (AML): NamZoed employs automated systems to continuously monitor transaction patterns. We reserve the right to flag, freeze, and report any suspicious or large-sum transactions to relevant national authorities for investigation, in accordance with national Anti-Money Laundering laws.

6.4. Data Retention: We will retain all necessary transaction, financial, and verification records for the regulatory periods required by the Royal Monetary Authority of Bhutan (RMA).

6.5. Escrow Mandate: For all transactions conducted through the NamZoed Norbu Coins or integrated payment methods, the funds will be held in a secure Escrow Account. Funds are released to the Tshongpa (seller) only after the Buyer confirms the complete fulfillment of the transaction (i.e., the item is delivered and accepted, or the service is completed).

6.6. Payment Provider Compliance: NamZoed adheres to global security standards (like PCI DSS for card data) and rigorously follows all guidelines issued by the Royal Monetary Authority of Bhutan (RMA) regarding digital payments and financial data security.

6.7. Fund Settlement: The timeline for funds to be released from the Escrow Account to the Tshongpa's designated bank account or wallet will be clearly communicated upon transaction confirmation. NamZoed is not liable for delays caused by banking institutions or settlement failures resulting from inaccurate seller banking information.

6.8. Refunds and Chargebacks: Buyers must adhere to the defined refund policy of the specific Tshongpa. Where an item is proven to be fraudulent, damaged, or significantly misrepresented, NamZoed has the authority to process a full or partial refund from the misrepresented seller. The Buyer must initiate the dispute process within the mandatory return window.

6.9. Wallet Limits: Non-verified users may have limits on the maximum balance they can hold or the total value they can transact monthly through the in-app wallet, serving as a protective measure against unverified financial risk.

7. E-Commerce Transaction Regulations (The Marketplace Rules)

7.1. Product Listing and Authenticity: The users will ensure that for all times reasonable standards for product quality, listing accuracy, and required conduct are followed to ensure a fair and equitable marketplace.

7.2. Prohibited Items: Users are strictly forbidden from listing or exchanging the following: illegal substances, counterfeit goods, stolen property, weapons, hazardous materials, illegal gambling, items that violate intellectual property rights, or content that violates the spirit of GNH and GMC.

7.3. Product Standards: All physical goods must comply with Bhutanese quality, safety, and labeling standards. Tshongpas must accurately and honestly represent the quality, condition, and origin of the listed item. Misrepresentation is grounds for immediate listing removal and possible suspension.

7.4. Service Standards: Service providers must clearly define the scope of work, their pricing structure, and hold any professional certifications required by relevant Bhutanese regulatory bodies for their trade.

7.5. Anti-Discrimination Policy: NamZoed enforces a strict policy prohibiting discrimination. Users must not refuse to transact with, or communicate abusively towards, any individual based on race, religion, gender, Dzongkhag of origin, or any other protected characteristic.

7.6. Review Integrity: All reviews and ratings must be genuine and reflect an honest experience with the product or service. Manipulation of reviews, including soliciting fraudulent reviews, offering incentives for positive reviews, or threatening users to remove negative feedback, is strictly prohibited and will result in account sanctions.

7.7. Breach and Suspension: NamZoed will issue warnings for minor policy breaches. Repeated or severe violations (e.g., selling prohibited items, fraud) will lead to the immediate temporary suspension or permanent banning of the offending user's account and may be reported to law enforcement.

7.8. Delivery Timelines: Tshongpas must clearly communicate expected delivery times in the listing and ensure timely dispatch. Mandatory use of tracking (where available) is required for verified sellers.

7.9. Return Policy: Sellers must adhere to a mandatory minimum return policy for faulty or severely misrepresented items. Buyers must initiate returns within the specified window.

7.10. Seller Warranty: Where applicable, Tshongpas must honor any stated warranty or guarantee on new goods.

8. Content and Live Sharing Regulations (The Platform Conduct)

8.1. Platform Conduct: The user will ensure that all user-generated content, including product descriptions, chat messages, and live video streams follows the standard as required in this user agreement and in accordance with the laws of their respective jurisdictions.

8.2. Content Ownership: You retain all ownership rights to the content you create and submit (photos, descriptions, videos). However, by uploading content, you grant NamZoed a worldwide, royalty-free license to use, reproduce, modify, and display your content for the operation and promotion of the App.

8.3. Infringement Policy: Tshongpas are strictly forbidden from selling or listing counterfeit items or using copyrighted or trademarked material (logos, text, images) without explicit legal permission from the owner. We maintain a swift process for reporting and removing infringing content.

8.4. Plagiarism: Content used in listings or shared on the platform must be original or properly attributed. Plagiarism is not permitted.

8.5. Live Video Privacy: Users hosting live video streams must respect the privacy of others. You must obtain explicit verbal consent before broadcasting identifiable individuals, especially in private or restricted spaces.

8.6. Data Handling: NamZoed will handle all user data (including video logs, chat history, and location data) in strict compliance with global standards and national data protection expectations. We are committed to transparent disclosure regarding how your data is collected, stored, and used.

8.7. Minor Protection: Any content that involves, solicits, or engages with minors in a harmful, inappropriate, or illegal way is strictly prohibited. Reporting of such content will be immediately escalated to relevant child protection agencies.

8.8. Decency and Civility: The platform is dedicated to maintaining a respectful and civil environment. Prohibition includes but is not limited to hate speech, explicit pornography, verbal harassment, threats of violence, or excessively vulgar or inflammatory language.

8.9. Promotion of Illegal Activity: Content that promotes or provides instructions for illegal activities (e.g., fraud schemes, violence, illegal trade) is strictly banned and will be reported to law enforcement.

8.10. Moderation Policy: Content is reviewed using both automated tools and human moderators. Users whose content has been removed will be notified and given a clear, transparent process for appealing the moderation decision.

8.11. Consent for Internal Recording: Users hosting live video streams or engaging in private video chats must explicitly inform all visible participants that the session is being recorded or broadcast. Proceeding without explicit verbal consent from all participants is a violation of user privacy.

8.12. Prohibition on External Recording and Redistribution: Users are strictly forbidden from externally recording, capturing, or screen-recording any user's private content (e.g., private chat messages, financial transaction details, private video calls). Unauthorized capture, download, or redistribution of any NamZoed platform content (including public live streams and seller listing media) for commercial gain or malicious purposes is also strictly prohibited and constitutes copyright infringement.

8.13. Consequences: Violation of this Live Recording and Redistribution policy is considered a severe breach of these Terms, resulting in the immediate removal of the offending content and mandatory permanent termination of the user account.

9. Transactions, Payments, and Exchange

9.1. Payment: NamZoed does not process the final payment for goods or services. Buyers and Sellers agree on the payment method directly (e.g., cash on delivery, bank transfer, local payment apps). NamZoed assumes no responsibility for payment disputes, failure to pay, or fraud related to payment.

9.2. Safe Exchange Points: NamZoed encourages the use of designated Office of NamZoed locations for safe, verifiable exchange of goods. Use of this service does not make NamZoed responsible for the item's condition or quality, only for providing a supervised meeting space.

9.3. Disputes: In the event of a dispute between a Buyer and Seller, both parties agree to first attempt to resolve the issue amicably. NamZoed may, but is not obligated to, assist in mediation at its sole discretion.

10. Intellectual Property and Content

10.1. Your Content: You retain all ownership rights to the content you submit to the App (photos, listings, messages). By submitting content, you grant NamZoed a worldwide, royalty-free license to use, reproduce, modify, and display your content in connection with the operation and promotion of the App.

10.2. NamZoed IP: All rights, title, and interest in and to the App (excluding user-provided content), including its design, logo, functionality, and software, are the exclusive property of NamZoed.

11. Norbu Coins (Convertible Virtual Currency) Regulations

11.1. Convertible Status: Norbu Coins are a digital currency used to facilitate transactions, bidding, and rewards within NamZoed. They can be purchased with and converted back into legal tender (Currency of respective jurisdiction), subject to the terms herein and national financial regulations.

11.2. Valuation: NamZoed retains the sole and absolute right to establish, publish, and modify the fixed exchange rate, value, and supply of Norbu Coins at any time, with or without prior notice.

11.3. No Interest: Norbu Coins do not accrue interest or investment returns and do not constitute a bank deposit or security.

11.4. Acquisition Methods: Users may acquire Norbu Coins via two methods:

• 11.4.1. Purchase: Directly purchasing coins with cash through approved payment gateways.
• 11.4.2. Reward: Earning coins as a reward for loyalty, promotional campaigns, or platform activities (reward coins hold the same value as purchased coins).

11.5. Redemption (Cash-Out): Verified users (KYC compliant) may request the conversion of Norbu Coins back into Nu. or the registered legal currency of the relevant jurisdiction, which will be transferred to their registered bank account, subject to NamZoed's published exchange rate and redemption fees.

11.6. Exchange Rate and Fees: NamZoed reserves the right to impose a transaction fee on the purchase and/or redemption of Norbu Coins. The applicable exchange rate and fee structure will be clearly displayed prior to initiating any transaction.

11.7. Redemption Limits: Daily, weekly, or monthly limits on the maximum amount of Norbu Coins that can be converted back to Ngultrums or the relevant monetary conversion may be enforced, especially for non-verified or lower-tier user accounts, to ensure compliance with AML procedures.

11.8. Mandatory Usage: Norbu Coins are the safest currency for all Online Bidding/Auction activities on NamZoed and can be used for platform service fees, discounts, and virtual gifts.

11.9. User-to-User Transfer (P2P): Verified users may send Norbu Coins directly to another verified NamZoed user's wallet.

11.10. Irreversibility: All P2P transfers are final and irreversible once processed. Users must confirm the recipient's identity before initiating a transfer.

11.11. Limits and Fees: NamZoed reserves the right to impose daily or monthly limits on the amount of Norbu Coins that can be transferred, and may apply a small transaction fee to cover processing costs.

11.12. Prohibited External Trade: Any attempt to sell, exchange, trade, or transfer Norbu Coins for real-world currency, goods, or services outside of the NamZoed platform is strictly prohibited and will lead to the immediate termination of all associated accounts.

11.13. Forfeiture: In the event of voluntary or involuntary account termination, all remaining Norbu Coins are immediately and permanently forfeited. NamZoed is not obligated to compensate you for the value of forfeited coins.

12. Online Bidding and Auction Regulations

12.1. Seller Eligibility: Only verified Tshongpas with a high trust score (as determined by NamZoed) are eligible to list items for auction.

12.2. Product Integrity: All goods listed for auction must be unique, accurately described, and must not violate any of the Prohibited Items rules. The listing must clearly state the product's condition and the location for final exchange/pickup.

12.3. Minimum Price/Reserve: Sellers must clearly state the starting bid price (in Norbu Coins) and, if applicable, the reserve price (in Norbu Coins). If the reserve price is not met, the seller is not obligated to sell the item.

12.4. Bidding Currency: All bids must be placed using Norbu Coins held in the user's NamZoed wallet.

12.5. Binding Bid: Placing a bid is a binding contractual obligation to purchase the item at that price if you are the winning bidder at the auction's closing time.

12.6. Winning Bidder Obligation: The user with the highest legal bid at the auction's end is the Winning Bidder and is immediately obligated to complete the purchase. The equivalent value of Norbu Coins will be deducted immediately upon the auction closing.

12.7. Bid Retraction: Bids cannot be retracted except under limited, verifiable circumstances (e.g., demonstrable error in bid amount entry). Abusive or repeated bid retraction will result in sanctions, including the loss of bidding privileges.

12.8. Payment Fulfillment: The required Norbu Coins for the winning bid will be automatically deducted from the Winning Bidder's wallet. Failure to maintain sufficient Norbu Coins at the time of auction close constitutes a breach, and the item may be offered to the next highest bidder or re-listed, and the account penalized.

12.9. Seller Payout: Upon confirmation of fulfillment by the Buyer, the winning Norbu Coins will be released to the Tshongpa's account. The Tshongpa may then choose to use the Norbu Coins for purchases on NamZoed or redeem them for Ngultrums or the relevant currency.

12.10. Auction Fraud (Shill Bidding): Sellers, their associates, friends, or family are strictly prohibited from placing bids on the Seller's own auction listings to artificially inflate the price. Violation of this rule will result in the immediate and permanent termination of all associated accounts.

12.11. Dispute Resolution: Disputes regarding the auction process or item fulfillment will be handled via the standard dispute resolution process, with NamZoed retaining final mediation authority.

13. Limitation of Liability

NamZoed is provided on an "as is" and "as available" basis. NamZoed shall not be liable for any direct, indirect, incidental, special, consequential, physical injuries or punitive damages, including loss of profits, data, goodwill, or other intangible losses, resulting from (a) your access to or use of the App; (b) the conduct or content of any third party on the App; or (c) any items purchased or services obtained through the App.

14. Termination

NamZoed may terminate or suspend your account immediately, without prior notice or liability, for any offence, including without limitation if you breach the Terms. Upon termination, your right to use the App will immediately cease.

15. Governing Law

These Terms shall be governed by and construed in accordance with the laws of the Kingdom of Bhutan and your relevant jurisdiction without regard to its conflict of law provisions.

16. Changes to Terms

NamZoed reserves the right, at its sole discretion, to modify or replace these Terms at any time. If a revision is material, we will provide at least 30 days' notice before any new terms take effect. By continuing to access or use our App after those revisions become effective, you agree to be bound by the revised terms.

Thank you for choosing NamZoed! By clicking 'I Agree' below, you accept these Terms of Service.