Peer-to-peer trade contract
Version 2 · 27 Oct
Article 1 — Parties
This contract is made between the "Seller", the user selling crypto or foreign currency, and the "Buyer", the user buying it for tomans. The exchange is not a party to the trade; it only holds one side of the trade in escrow until the trade ends.
Article 2 — Subject and rooms
The sale of a stated amount of crypto or foreign currency for the toman price shown in the trade. Every trade takes place in one of two kinds of room: a) A crypto room: the exchange holds the Seller's crypto in escrow, and the Buyer pays the tomans from their own bank account to the Seller's bank account in Iran. b) A currency room: the exchange holds the Buyer's tomans from their balance in escrow, and the Seller sends the currency from their own bank account abroad to the Buyer's bank account in that country or currency. The amount, price, fee, window and receiving account are those recorded on the trade's page when it opens, and form part of this contract.
Article 3 — Escrow
When the trade opens, the held side — the Seller's crypto in a crypto room, the Buyer's tomans in a currency room — is locked and is out of both parties' hands until the trade ends. It is released in only these ways: confirmation of receipt by the party who receives the outside payment (the Seller in a crypto room, the Buyer in a currency room); a decision by the exchange's staff on a dispute; or the trade being cancelled or expiring before payment is claimed, which returns the escrow to its owner.
Article 4 — The payer's obligations
The payer — the Buyer in a crypto room, the Seller in a currency room — undertakes to: a) Pay the full amount within the window, only from a bank account in their own name and only into the account shown on the trade's page. b) Enter the bank's genuine reference or tracking code when claiming payment, and send the receipt in the trade's conversation when asked. c) Never claim a payment that has not been made.
Article 5 — The receiver's obligations
The receiver — the Seller in a crypto room, the Buyer in a currency room — undertakes to: a) Receive the payment only into an account in their own name, as named on the offer or when opening the trade. b) Release the escrow promptly once the full payment has arrived. c) Never withhold the escrow after being paid, or ask for any extra or off-platform payment.
Article 6 — Same-name accounts and prohibited conduct
In both rooms the receiving account must be in that user's own name; payment to or from a third party's account is not accepted and may be returned. Settling outside the platform, using another person's account, exchanging contact details to trade outside the platform, and any attempt at money laundering or evading the law are prohibited, and lead to restriction of the account and a report to the competent authorities.
Article 7 — Cancellation and expiry
The payer may cancel the trade before claiming payment. If payment is not claimed within the window, the trade expires. In both cases the escrow returns to its owner. Repeated cancellations and expiries are recorded against the user and may lead to restriction of the account.
Article 8 — Disputes
Once payment has been claimed, either party may raise a dispute, naming the kind of problem. From then the escrow stays locked until staff decide. The exchange's staff decide, on the conversation, receipts, references and the trade's record, whether the escrow is released to the payer or returned to its owner. The parties must provide the evidence requested within the time announced. The decision is carried out on the platform and does not remove either party's right to pursue the matter at law.
Article 9 — Suppliers
Selling currency in a currency room may be limited to users the exchange has admitted as suppliers. Admission is not a guarantee by the exchange, and a supplier who does not deliver is removed from the market.
Article 10 — The exchange's liability
In a crypto room the exchange does not receive or hold the toman payment; in a currency room it does not receive or hold the foreign currency; and it is not responsible for delays, errors or reversals of bank transfers. Its liability is limited to holding the escrowed side of the trade and carrying out decisions in accordance with this contract.
Article 11 — Fees
Any trade fee is shown on the trade's page before it opens and is deducted from the escrowed side when it is released: from the crypto the Buyer receives in a crypto room, and from the tomans the Seller receives in a currency room.
Article 12 — Records, governing law and acceptance
Messages, receipts, times and the trade's record are kept by the exchange, and the parties agree that these records may be relied on in deciding a dispute and before the competent legal authorities. This contract is governed by the laws of the Islamic Republic of Iran. Ticking the acceptance box on the platform constitutes signature of this contract under the Electronic Commerce Law; the version each party accepted, and when, is recorded on the trade's receipt.