Terms and conditions

These Terms & Conditions (hereinafter the “Terms”) are a binding legal agreement between you and N.KRAT Group AG, a company incorporated and existing under the laws of Germany, registration number HBR 29787, whose registered office is at 43 Ringofenstrasse, 44287 Dortmund, Germany (hereinafter the “Company”), for the use of system “Fridn” (hereinafter the “System”) and its components operated and maintained by the Company.

PLEASE READ THESE TERMS CAREFULLY BEFORE USING THE SYSTEM.

By accessing, using and/or creating an account in the System, you acknowledge that you have read and agree to be bound by these Terms and our Privacy Policy. If you do not agree to these Terms and/or the Privacy Policy, do not use the System.

The Company permits you to use the System solely in accordance with these Terms. The Company retains ownership of the System, its content and components at all times.

1 DEFINITIONS


Fridn system or the System is a system that allows to receive rewards in the form of Fridn Activity Reward for performing activities aimed at self-development and improving personal effectiveness.

Fridn Activity Reward or FAR are electronic units granted to the participants of the System as a reward for various types of performed activities according to an algorithm implemented by the System.

Fridn.App is an application available to be downloaded and installed on mobile devices and accessible online at my.fridn.com, providing participants with the access to the services and functions of the System.

Fridn Utility Document or FA.Unit is an electronic document that constitutes a User’s claims to receive the equivalent amount of financial resources stated in the document, and used to enable the following actions:

1. account activation to exctract FAR. 2. exchange from FUD to FAR.

«FA.Unit»– one type of the FUD, where 1 FA.Unit equals 1,00 USD.

Group of Companies shall mean legal entities authorized by the Company to represent its interests in the countries of their registration and operating in line with the relevant agreement by and between the Company and the legal entity.

1.1 SYSTEM PARTICIPANTS

User is an individual who has completed the procedure of registration and activation (depending on the role) in the System and uses the services of the System.

1.2 USER ROLES IN THE SYSTEM

Extractor is a User who uses the System and receives rewards in the form of FAR.

Fridn Consultant is a User who is already an Extractor and wishes to receive additional rewards for attracting other users to the System subject to the terms and conditions agreed between the Company and the Fridn Consultant in a separate agreement.

2 PERMITTED USE

According to these Terms the Company grants you a non-exclusive, non-transferable, revocable license to do the following:

(i) access and use the System for your personal use only;

(ii) access the functions and components of the System through downloading, installing and/or using Fridn.App, including any updates and changes provided by the Company from time to time, for your personal use only.

The Company may terminate the license granted under these Terms at any time and at its absolute discretion, with or without giving notice thereof, in line with Clause 19 of the Terms. If you breach any provision of these Terms, the licence shall terminate automatically. Where such licence is terminated, you agree to immediately cease using the System.

3 PRIVACY POLICY

By accessing and using the System and/or by submitting personal data to the Company, you agree to the collection and processing of your personal data as described in our Privacy Policy, which is incorporated into these Terms by the use of this reference and further explains the use and collection of your personal data when accessing and using the System.

4 AGE RESTRICTION

If you are under the age of 14, you must not use the System.

If you are below the age of 16, you must read these Terms with your parent or guardian prior to using the services of the System, as such use shall confirm that your parent or guardian agree to these Terms.

If we discover that you have not provided us with your true age and/or we have reasonable doubts about the consent of your parent or guardian to the use of the System, we may terminate your user account, unless you provide us with the evidence of otherwise to the e-mail address indicated in Clause 19 of these Terms.

5 INTELLECTUAL PROPERTY RIGHTS

All intellectual property rights and other rights in or to the System, and any content thereof are owned solely by the Company and its licensors, including but not limited to materials protected by trademark, copyright and patent laws.

Save as expressly set out in these Terms, and you shall not obtain:

(i) any rights in or to our intellectual property rights or those of the Company’s affiliates; or

(ii) any intellectual property rights and other rights in or to the System; or

(iii) any contents/materials of either of the above.

Nothing in these Terms shall be interpreted as granting you any exclusive license for intellectual property rights.

Save as expressly permitted by the Company in these Terms, you must not use any content of the System for any commercial purpose without obtaining a written permission from the Company.

You agree not to copy, reproduce, frame, download, transmit, broadcast, present, modify, distribute, republish and/or sell any intellectual property in or to the System.

You agree not to use any data mining, scraping, robots or any similar data gathering methods.

Where you submit any personal content whatsoever to the System, including without limitation any image, text or data, you retain all intellectual property rights that you hold in such content. You grant to us a non-exclusive, worldwide, royalty-free, transferable, sub-licensable license to use, reproduce, publish, distribute, present, adapt, modify, enhance and communicate such content in some cases for any purpose relating to the use of the System and our business, strictly in accordance with our Privacy Policy .

6 REGISTRATION PROCEDURE AND USER ACCOUNT

In order to use the services of the System, you must create a user account (“User Account“)”). You are solely responsible for all uses of your User Account. You must ensure that you use your e-mail address for creating your account and a strong password and that your password is kept confidential and secure at all times. Do not allow anyone else to use your username and/or password to access your User Account. The Company shall not be liable to you for any unauthorised use of your User Account resulting from your failure to maintain restricted access to your mobile device, the confidentiality or security of your user details or failure to use a strong password. Please review your User Account regularly. If you identify any erroneous transaction or unexpected activity on your User Account, or you believe that the security of your User Account has been compromised, you must let us know as soon as reasonably possible using the contact details provided in Clause 19 of these Terms. The Company reserves the right to require Users to undergo the personal data verification procedure in order to comply with the anti-money laundering laws.

7 ACTIVATION OF USER ACCOUNT

Conditions necessary for account activation:

(i) having a referral link received from another User of the System;

(ii) having the amount of FUD needed for account activation in the System, as defined in the price list available at instant.fridn.com.

Account activation procedure:

(i) Log into Fridn.App.

(ii) Go to “Profile”.

(iii) Press the “Аctivate account” button.

Once you press the “Activate account” button, the System will activate your account.

8 EXTRACTION OF FAR

The System allows receiving rewards in the form of FAR, which Extractors earn after the System successfully verifies the data about performed activities.

To start extracting FAR:

(i) Download and install Fridn.App on your mobile device.

(ii) Sign up in the System.

(iii) Activate your User Account in accordance with Clause 7 of these Terms.

(iv) Connect and activate a registering device.

Please note that the type of the registering device varies depending on the type of your activities. The registering device records performed activities and transfers the data to Fridn.App. The System automatically processes and verifies all gathered information. Following the completion of the verification procedure, the System calculates and grants the appropriate amount of FAR generated by you according to the algorithm implemented by the System. From time to time The System might ask You for additional proof of the data provided by You. The Company reserves the right and retains the absolute discretion to determine, and alter from time to time, the verification algorithms for generating FAR.

9 EXCHANGING FAR

A User can exchange FAR to FUD using Fridn.Exchange or Fridn.Interchange.

To do so, the User needs to:

(i) launch Fridn.App;

(ii) create a bid for exchanging FAR for FUD.

In Fridn.Interchange, FAR are exchanged for FUD automatically after the bid is submitted. In Fridn.Exchange, FAR are exchanged for FUD after the bid is accepted by another User.

10 VERIFICATION OF PERSONAL DATA

In order for a User to exchange FUD for money or cryptocurrencies, the User shall pass the procedures of personal data verification in the System at my.fridn.com, in the Fridn.Passport section. Following the successful personal data verification, the User can create a bid to exchange FUD for fiat money or cryptocurrencies.

11 EXCHANGING FUD

In order to receive FUD in exchange for money or cryptocurrencies, a User shall make a bid in Fridn.App using the Fridn.Refill service. In case FUD are to be received in exchange for money, bank details of the Company or a member of a Group of Companies will be sent to the User to the e-mail address registered with the System. Such bids are processed within 2–14 banking days depending on the User’s place of registration. In case FUD are to be received in exchange for cryptocurrencies, bids are processed automatically. The equivalent amount of FUD will be transferred to the User within 8 hours from the moment the Company receives the bid, depending on the chosen type of cryptocurrency. In order to receive money in exchange for FUD, a User needs to create a bid in Fridn.App using the Fridn.Withdraw service. The period for receiving money or cryptocurrencies in exchange for FUD is determined by the rules of the Fridn.Instant service available at instant.fridn.com or those of the Fridn. Exchange service. The Company or a member of a Group of Companies shall pay the due amount to the User using the payment details provided by the User in Fridn.Passport and subject to deduction of taxes and duties according to laws of the User’s country of registration.

Please, note! Exchange of FAR to FUD and back is carried out solely between two Users of the System.

The exchange rate is determined by the Users without any engagement of the Company. The System excludes any possibility of direct transfer of FUD between the Users.

12 PHYSICAL ACTIVITY NOTICE

It is your sole responsibility to consider risks associated with the use of Fridn.App and performing physical and intellectual activities in connection with the use of the System.

You must consult with a medical professional prior to using the services of the System, including without limitation Fridn.App, and performing activities required to generate FAR.

The Company shall not be liable for any injuries or damage that you may sustain as a result of generating FAR by means of performing the physical or intellectual activity required.

13 RESTRICTIONS

You agree that you shall not:

(i) seek to generate FAR by any means other than your genuine physical and intellectual activities meeting the eligibility criteria specified by the Company and, in particular, you shall not (i) simulate any such activities using artificial and/or mechanical means, including animals, computers and/or other devices; (ii) engage third parties to generate FAR on your behalf; and (iii) copy, adapt, transmit, reverse engineer, decompile, disassemble, modify, sell Fridn.App or any content accessible when using the System, save as otherwise expressly permitted by these Terms or the applicable law;

(ii) operate more than one User Account;

(iii) use the services of the System in any unlawful manner, for any unlawful purpose or in any manner inconsistent with these Terms, or act fraudulently or maliciously, for example, by hacking or inserting a malicious code, including viruses or harmful data, into Fridn.App;

(iv) reproduce, frame, display or mirror Fridn.App other than as a necessary consequence of your normal use of the app;

(v) infringe our intellectual property rights or rights of any third party in relation to your use of the System;

(vi) use the System in a way that could damage, disable, overload, impair or compromise our systems or security or interfere with other users;

(vii) employ any technology that interferes in any way with the proper operation of the System, including by blocking any advertisements or promotions displayed therein;

(viii) collect any information or data from the System for any commercial purpose, save as otherwise agreed in writing with the Company.

If we discover any breach of clause 13 by you, we may immediately suspend or terminate your access to the System.

Please note that in case of a violation of these Terms, all FAR you have sent to other Users of the System will be transferred to the system wallet claim@fridn.io (“Fridn.Сlaim”) until the circumstances of the case are clarified. In case no proof of the breach of these Terms is found in the course of the dispute resolution, FARused in your outgoing transactions will be sent back either to your User Account or the User Account of the recipient. In case the results of the dispute resolution prove your illegal activity when using our System, FARshall be distributed among other Users who suffered damages as a result of your activity.

14 CHANGES AND UPDATES

These Terms apply to the use of any updates or changes in the System that the Company may issue from time to time. We may also change or update these Terms and/or our Privacy Policy from time to time. If we decide to do this, we will post such changes or updates on the website of the System at www.fridn.com , so that you are always aware of the terms and conditions for the use of the System.

We do not undertake to notify registered users via email when changing or updating our Terms or Privacy policy. Therefore, you undertake to review these Terms and the Privacy Policy on the website of the System at www.fridn.comfrom time to time to be informed of any such updates and changes. Upon any such change or update of the Terms or the Privacy Policy, you agree to such change or update by continuing to use the services of the System.

From time to time, we may make available additional terms or guidance in relation to the usage of the System, and where we do this, you agree to comply with such additional terms or guidance that we make available by continuing to use the System.

The Company reserves the right at any time, without liability of any kind, in its absolute discretion (i) to change, suspend, restrict or disable your access to the System, and/or (ii) alter the functionality of the System with or without giving notice.

The Company may issue updates to the System from time to time. Depending on the nature of the update, you may not be able to continue to use the System until you download the latest version of Fridn.App.

15 NO WARRANTY

The System is provided “as is” and “as available” without any representation, warranty or undertaking of any kind as to the availability, performance, accuracy, or completeness of its components, or the contents of any of them. The Company does not warrant that the use and availability of the System will be uninterrupted or error-free.

16 LIMITATION OF LIABILITY

The Company will not reimburse any losses that you may incur in case of culpable (intentional or careless) violation of any requirements of these Terms.

The Company shall not be responsible in case failures of the System arise as the result of:

(i) any failure of a telecommunication, computer or power supply network or system or any other related network or system;

(ii) a force majeure.

You agree that:

(i) The Company shall not be liable for transactions you made to the order of other Users of the System or for the transfer of wrong amounts of units due to the provision of incorrect information by other Users.

(ii) Verification of Users’ personal information shall be used solely to increase the likelihood of correct user identification. The Company shall not be liable for fraud, deception or false information provided by Users, regardless of whether the User’s identity was verified or not. The Company agrees to assist Users in case they become victims of fraud, provided they inform the Company about the problem in reasonable time to the e-mail address indicated in clause 19 of these Terms.

(iii) The Company shall not be liable for an unauthorized interception or use of data related to you and your User Account, for the inability to use the System as a result of the lack of access to the services of the System, including without limitation Fridn.App, and for actions or deals entered into by any person as a result of the use of your User Account with your consent. The Company shall not be responsible for any failures of hardware or software (including computer viruses), telephone lines or other means of communication as well as for failures caused by Internet service providers. Under no circumstances shall the Company be responsible for unforeseen damages caused unintentionally, including but not limited to damages resulting from lost profits or disclosure of confidential information.

(iv) The Company shall not be liable for acts or omissions by third parties (e.g., providers of telecommunication services, suppliers of hardware or software) or damages incurred as a result of any circumstances beyond our control (e.g., fire, flood or other natural disasters; war, riot, strikes, equipment failure, computer virus or failure in the power supply, telecommunication networks or other associated services).

17 CANCELATION AND REFUND POLICY

The User has the right to return the license for the use of the System and apply for a refund of account avtivation costs within 14 (fourteen) days from the date of account activation in accordance with the Clause 7 of these Terms.

The User shall send us an appropriate email with the informationon banking details in order to make a refund to the email address specified in Clause 19 of these Terms.

Please, note, that the Company can only provide a refund to the same banking details used when activating the account.

When returning the license, your account will be deactivated.

18 MISCELLANEOUS

We may assign or transfer our rights and obligations under these Terms to a third party. You are not entitled to assign or otherwise transfer these Terms without our prior written consent. Any attempt to do so without our consent will be void.

We shall not be liable or responsible for any failure to perform or any delay in performance of any of our obligations under these Terms that is caused by any act or event beyond our reasonable control.

If we do not insist that you perform any of your obligations under these Terms, or if we do not take action to protect our rights, or if we delay doing so, that shall not mean that we have waived our rights and shall not mean that you do not have to comply with your obligations. If we do waive a default on your obligations, we will only do so in writing, and that shall not mean that we will automatically waive any later default on your obligations.

Each of the provisions of these Terms operates separately. If any court or competent authority decides that any of them is unlawful or unenforceable, the remaining conditions shall remain in full force and effect.

These Terms are governed by the laws of Germany. You agree that courts of Germany, Dortmund, will have a non-exclusive jurisdiction to resolve any disputes under or in connection with these Terms.

19 CONTACT DETAILS

In relation to any matters concerning the use of the System, including any feedback, queries, complaints or claims, please contact us by email support@fridn.email.

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