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Zutopia Chargeback Policy

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1. Definitions

The terms used in this Chargeback Policy align with those defined in the Zutopia Terms of Service and Privacy Policy. Specifically:

  • Zutopia: The peer-to-peer platform for trading Zucoins.
  • Zucoins: A decentralized cryptocurrency that operates using the SplitChain framework.
  • Member: Any registered user of the Zutopia platform.

2. Purpose

This Chargeback Policy is established to protect the integrity of transactions within the Zutopia platform and to prevent misuse of chargebacks in a decentralized trading ecosystem.

3. Chargeback Initiation

Chargebacks initiated against Zutopia for transactions involving Zucoins will be declined. This policy serves as evidence of terms agreed upon by Members during account registration and transaction processes.

4. Resolution Process

If a chargeback is processed by a financial institution, Members agree to:

  1. Resolve the chargeback directly with Zutopia within five business days.
  2. Reimburse the disputed funds if applicable, including any fees incurred by Zutopia, within five business days.
  3. Accept liability for an administrative fee of $1,000 AUD or the actual costs incurred in the event of legal action.

5. Legal Recourse

Zutopia reserves the right to pursue legal recourse under New South Wales, Australia jurisdiction for unresolved chargebacks. Members agree that this fee structure is fair and reasonable, and not punitive.

6. Account Suspension and Disclosure

Upon chargeback initiation:

  1. The Member’s account will be suspended, preventing further transactions.
  2. Zutopia reserves the right to disclose the Member’s information publicly on its platform or other media to safeguard against future fraudulent activity.

7. Fraudulent Activity

Zutopia is not liable for unauthorized transactions, including fraud involving third-party accounts or wallets. Chargeback attempts under such circumstances will be treated as fraudulent and in violation of this policy.

8. Dispute Resolution

For disputes related to Zucoin transactions:

  1. Zutopia will assist Members in resolving disputes through its internal mechanisms, including real-time transaction logs facilitated by SplitChain.
  2. Zutopia may cooperate with law enforcement to investigate and resolve issues involving fraud or illegal activities.

9. Final Provisions

This policy is part of Zutopia’s commitment to ensuring trust and security in a decentralized peer-to-peer trading ecosystem. By using Zutopia, Members agree to comply with these terms.