To better regulate the trading of our P2P market and create a safer and more regulated trading environment, the rules of the Fokawa fiat currency trading are as follows:
Notes: The rules below will take effect from its release date, and will be improved or amended from time to time. The improved or amended rules will take effect from its update time.
All users shall be subject to the principle of anti-money laundering (hereinafter referred to as “AML”):

Users should strictly subject to our platform's managerial rules concerning user identity and account verification to guarantee that the corresponding accounts used on the platform are legally registered and used by users themselves;

When warning of our platform’s AML risk control is triggered, users shall actively collaborate with the AML verification required by our platform, and actively assist in providing relevant risk control evidence materials (specific measures are subject to the platform's risk control verification requirements at that time).

Notice to buyers:
Please complete the payment in time as stipulated by the seller, and then click "I have paid”.
Since the seller did not provide a valid payment method, the system will record that the buyer cancelled the order. If this affects the buyer's completion rate, you can contact our platform customer service to convert to the seller's responsibility.
Please do not click "I have paid" when the payment is incomplete or not initiated, this behavior will be defined as malicious payment. Should a situation like this arise, it may cause some functions of your account to be restricted.
You must use the verified account (for instance, use bank account under your name, UPI, IMPS, Neft or RTGS account for payment.
You should choose the payment method that delivers real-time arrival, such as UPI, bank real-time remittance, etc.
No information should be added when executing the transfer, such as “cryptocurrency, BTC, USDT Order Number, please release crypto”.
Please do not use any program or script to obtain orders with obvious error in price, the situation will be handled by our customer service accordingly based on the loss. To protect the interests of the weak, the platform can directly cancel the order (before the order is completed) if the negotiation did not reach any result.
The digital currency assets concerning the order in progress will be locked on the platform; if you have completed the transfer and clicked "I have paid” and the seller did not release the crypto in time, you can choose to make an appeal via Feedback; if the situation is fully in accordance with the above-mentioned, and relevant legitimate material is provided, we will conduct arbitration within one hour and determine that the asset belongs to the buyer.
It is forbidden to conduct small-scale remittances to other people's bank accounts, UPI, IMPS, Neft or RTGS accounts without the consent of others.

Notice to seller:
Before setting up the receiving account, please conduct receive and payment test in time. If the buyer makes the payment according to the receiving account displayed on the page, you should release the crypto within 10 minutes after receiving and checking the buyer's full payment.

When the buyer's paying account is inconsistent with the information recorded on the platform, the seller can make a direct request to cancel the order and complete the refund within 24 hours after receiving the payment.

Without buyer’s consent, you cannot ask the buyer or customer service to cancel the order (except for those orders whose price is obviously wrong).

When you have an order in place, please keep your phone switched-on. If you are not online, please cancel the corresponding transaction in time. Otherwise, if you cannot be reached by any means within 30 minutes from our customer service’s handling order, the customer service has the right to restrict certain functions of the account and cancel the current order.

Abnormal trading behavior and handling measures of the platform:
Abnormal buyer behavior
Handling measures of the platform
A) After the order is created, buyer choose to cancel the order based on their own will
If the number of automatic and overtime cancellations has reached 3 on a same day, the system will automatically restrict buyer’s fiat currency transactions on that specific day, and will reduce buyer’s completion rate (If the order is cancelled due to seller’s responsibility, you can contact the customer service to convert the responsibility for order cancellation).
B) After the order is created, the system automatically cancels the order due to timeout
If the number of payment timeout and automatic cancellations has reached 3 on a same day, the system will automatically restrict the buyer’s fiat currency transactions and will lower the buyer's completion rate (If the order is cancelled due to seller’s responsibility, you can contact the customer service to convert the responsibility for order cancellation).
C) When there is no payment been made, click "I have paid"
The seller has the right to request to cancel the order. If the number of complaint that the buyer receives has reached one, the system will automatically restrict certain functions of the buyer's account.

The payment is not conducted according to the receiving account displayed on the seller's order page and tied to the platform
A) If the receiving account is not the seller's account, the seller has the right to request to cancel the order and return cryptos to the seller. The buyer takes the risk of making a wrong transaction;
B) If the receiving account is the seller's account, but the funds cannot be transferred because the account has been frozen, the customer service will have priority to cancel the order within the range of the seller's account deposit and wait for receiving the money. Funds will be returned within 24 hours after the account is unfrozen.

The seller unties the receiving account after the order is generated, leading to an inconsistency between the receiving account the buyer gets when clicking "I have paid" and the actual receiving account. The seller cannot reject releasing crypto based on reasons that the receiving account is not created or tied to the platform, otherwise our customer service has the right to restrict certain functions of the seller account and force the crypto to be released.

When no payment is received and clicked "I have paid", and then made a payment
The seller has the right to continue the transaction or cancel the order after a refund.
A) If the seller chooses to continue the transaction, the seller needs to release the crypto within 10 minutes of receiving the full payment;
B) If the seller chooses to cancel the order, the seller shall complete the refund within 1 hour after the order is in appeal, and the crypto will be returned to the seller.

The payment is not conducted using the payment account that is in consistency with the verified platform account
A) The seller has the right to directly decline the transaction, and the seller can complete the refund within 24 hours after receiving the payment, and the cryptos are returned to the seller;
B) Payment made under a corporate account (regardless of whether it is the name of the person making the transaction and the name of the verified user are consistent) cannot be defined as a real-name payment. Once the buyer makes a complain, customer service has the right to restrict the buyer's account for 48 hours. If the number of buyer’s complaints has reached 3, the system will permanently restrict fiat trading function of the buyer's account;
C) If the adoption of transferring from any payment platform to bank cards leads to a result that the seller cannot check the payer’s verified information, our customer service has the right to request the buyer to provide verified information of receiving account, otherwise our customer service has the right to restrict certain functions of the buyer’s account.

Payment within the time frame as stipulated, and the order got cancelled:
A) The buyer has completed all the payments, and the order was cancelled by the buyer or due to the overtime;
B) The buyer completes part of the payment, but the order is cancelled by the buyer or due to system overtime

If the order is canceled by the buyer and the order is cancelled due to system overtime, the seller has the right to choose to continue the transaction or cancel the transaction with a refund.
A) If the seller chooses to complete the transaction, the buyer and seller should place an order again on the platform. After receiving all the money, the seller needs to release the crypto within 10 minutes;
B) If the seller chooses to cancel the order, then the seller needs to complete the refund within 1 hour after the order is under appeal, and return the cryptos to the seller.

If payment is conducted separately, and if all the transfers have not been completed, click "I have paid" and then continue to complete the payment
A) All payments are completed within the time frame as stipulated, the seller should continue to complete the order;
B) If all the transfers fail to be completed within the time frame as stipulated, the seller has the right to continue the transaction or cancel the order after a refund: if the seller chooses to continue the transaction, the seller should release the crypto within 10 minutes after receiving and checking all the payment; if the seller chooses to cancel the order, then he/she needs to complete the refund within 1 hour after receiving the payment, and return the crypto to the seller.

The payment amount does not match the order amount
A) If the payment amount is greater than the order amount and the order is completed, the seller should return additional funds within 30 minutes after receiving the payment;
B) If the payment amount is less than the order amount, the seller has the right to continue the transaction or request to cancel the order after a refund: if the seller chooses to continue the transaction, he/she has the right to conduct the transaction according to the actual order amount and complete the order; if the seller chooses to cancel the order, then he/she needs to complete the refund within 30 minutes after receiving the payment, and return the crypto to the seller.

After the buyer clicks "I have paid” and the seller has not received the payment within one hour
A) Unless the buyer's payment method has been agreed by the seller in advance, otherwise the seller has the right to choose to continue the transaction or cancel the order after a refund (subject to the result of the first confirmed customer service): if the seller chooses to complete the transaction, the seller needs to release the crypto within 10 minutes after receiving and verifying the payment; if the seller chooses to cancel the order, the seller needs to complete the refund within 30 minutes after receiving the payment, and return the crypto to the seller;
B) In the situation where the seller is a verified merchant. When our customer service fails to contact the buyer within 10 minutes after the appeal, and after verifying that the seller has not received the payment, the customer service can cancel the order within the scope of the deposit of the party issuing the order.

Using a payment method that is not real-time arrival without the seller’s consent to pay for the order

The seller has the right to choose to continue the transaction or request the cancellation of the order after a refund (subject to the result of the first confirmed customer service):
A) If the seller chooses to continue the transaction, the seller needs to release the crypto within 10 minutes after receiving and verifying the payment;
B) If the seller chooses to cancel the order, the seller needs to complete the refund within 30 minutes after receiving the payment (in case of special circumstances, customer service can handle it accordingly), and return the crypto to the seller.

The seller's receiving account behaves abnormal because of the buyer's payment
A) If the buyer cannot provide proof of a normal account, the seller should complete the refund within 24 hours after receiving account is back to normal, and then the platform will cancel the order after the refund is completed.
B) If the buyer can provide proof of a normal account, and after verifying that the buyer's account is in normal operation, crypto should be released to the buyer after the order is successful.

Notes: If the seller is a certified merchant of our platform, then within the scope of deposit, crypto can be returned to the seller immediately, and the seller should complete the refund within 24 hours after the receiving account is back to normal.

Remarks when transferring payment: remarks similar to "digital currency, BTC, Bitcoin Order Number, Please release crypto"
The seller has the right to choose to continue the transaction or refund and cancel the order:
A) If the seller chooses to complete the transaction, the seller should release the crypto within 10 minutes after receiving the payment;
B) If the seller chooses to refund and abort, the order is canceled and crypto is returned to the seller. The seller completes the refund within 1 hour after receiving the payment; If the seller’s receiving account is frozen due to this situation, please handle the case according to Step 13.

The issuer of trade order fails to provide a valid payment method applicable.
If detected, our customer service has the right to restrict certain functions of the issuer’s account. If such problems occur three times in a row, the identity of certified merchant will be directly lifted and certain functions of fiat trading will be permanently restricted.
A) For rules involving seller’s refunding or releasing crypto, and if the seller fails to complete the procedures on schedule, the customer service has the right to restrict certain functions of the seller's account;
B) For rules involving a refund, our platform customer service has the right to coordinate between both parties, and will designate other verified accounts of the recipient.

Abnormal seller behavior
Handling measures of the platform
Payment cannot be made due to an anomalous behavior in receiving account provided by the seller
The buyer has the right to continue the transaction or cancel the order:
A) If the buyer chooses to continue the transaction and confirms that the buyer has paid in full within the time frame as stipulated, the seller should release the crypto within 10 minutes after receiving the payment;
B) If the buyer chooses to cancel the order, the seller will return the crypto to the seller after completing the refund.

Because the seller fails to provide a valid payment method in time, therefore the buyer could not complete the payment, resulting a cancellation of the order
Because the seller fails to provide a payment method, this order cannot be completed. When the platform is dealing with the appeal, the order will be directly cancelled and a fine will be issued against the seller. The platform will cancel the order without counting the number of cancellations made by the buyer on the day;
If the number of complaints received by the seller has reached 2, the system will restrict certain functions of the seller's account.

Due to an inconsistency between buyer’s paying account information and the verified information recorded by the platform, and the transaction has not been declined
A) Risks arising therefrom shall be borne by the seller;
B) If being complained, the system will restrict certain functions of the seller's account.

After the buyer pays in full and clicks "I have paid” and the seller receives the buyer's full payment, the seller does not release the crypto within 20 minutes
The buyer has the right to choose to continue the transaction or refund and cancel the order:
A) If the buyer chooses to complete the transaction, the customer service will determine that the asset belongs to the buyer;
B) If the buyer requests a refund and cancels the order, the seller should complete the refund within 30 minutes.

Note: If the seller does not cooperate with the refund procedure, our customer service has the right to restrict certain functions of the seller's account.

Receives incorrect or additional payment from users
The recipient should cooperate to complete the refund within 1 working day, otherwise the customer service has the right to limit certain functions of the payee’s account.

Anomalous risk control triggered
handling measures of the platform

When the user has been identified as anomalous by the risk control system, and the user explicitly refuses to or does not actively cooperate to complete the AML verification work of the platform's risk control requirements

The platform will have the right to directly determine that this account is anomalous and will adopt measures including but not limited to raising the user's risk level, directly freezing the account of such users and their related accounts until the risk control evidence material provided by the user is in compliance with the platform's risk control verification.

When the user is determined by the platform's risk control as suspicious of fraud (or attempted fraud), withdraw money to various high-risk platforms (including but not limited to: acceptance dealers’ platforms, online gaming platforms, high-risk platforms that are not open for registration, platforms with suspected money laundering and fraud behavior or other platforms with low risk control capabilities) or other high-risk asset transfer behaviors

The platform will have the right to choose to directly freeze or restrict fiat currency trading and withdrawal functions of such users’ accounts and their connected accounts, and even disable all clearances of the accounts if deemed appropriate.

The account is not for the user’s own use or the crypto is illegally bought for others: when the user is identified by the platform that there are illegal selling, lending and leasing of his/her account for others to use, or buy crypto illegally for others

Risk warning: please pay attention to your own information security to avoid being abused by others to commit crimes.

The platform shall have the right to adopt one or more measures including but not limited to temporarily or permanently restricting fiat trading, delaying crypto withdrawals, restricting withdrawals or directly freezing the accounts and their connected accounts of such users.

Use other platform users to test the card: the user executes transfer of small amount to other platform users without an existing order, and cannot deliver a plausible explanation about this behavior
The platform shall have the right to adopt one or more measures including but not limited to temporarily or permanently restricting fiat trading, delaying crypto withdrawals, restricting withdrawals or directly freezing the accounts and their connected accounts of such users.

Receiving or introducing digital assets or funds of illegal origins: when users are aware of or can deduct based on common sense that the cryptos or funds received on other platforms/instant messaging platform groups are illegal, but still choose to ignore the risk and directly transfer the polluted cryptos/funds to the accounts of other users on this platform
The platform shall have the right to adopt one or more measures including but not limited to temporarily or permanently restricting fiat trading, delaying crypto withdrawals, restricting withdrawals or directly freezing the accounts and their connected accounts of such users.

Users deemed to be laundering money: when the user is detected by the risk control system or verified by the risk control staff that he/she is directly in participation of or assist with laundering money or other crimes
The platform will directly and permanently restrict all the functions of such users' accounts and their connected accounts, and permanently freeze all assets of such accounts.

Judicial freezing: when the user's account is judicially frozen
The platform will freeze user accounts strictly in accordance with the judicial letters produced by judicial bodies. When the freeze period expires, the judiciary institution needs to present a letter of freeze extension before the account continues to freeze. During freeze period, user's application to the platform for unfreezing is invalid, please contact the judicial institution for coordination.

Judicial evidence obtained: when users are required by judicial institutions to access their account information on our platform, including but not limited to: judicially obtaining evidence, consultation and other forms

The platform will restrict certain functions of such users' accounts and their connected accounts if seen appropriate.

Note: If any dispute occurs during the transaction, our platform customer service has the final arbitral right.