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P2P Token Transfer

Transfer Process

  • Token buy/sell contracts MUST be initiated on P2P Exchange platform to be covered by BIG Networks satisfaction guarantee;
  • The individual initiating (the person who made an offer on an open-contract, not the person who posted the open-contract) the contract should initiate the transfer process;
  • A transfer contract can ONLY be initiated upon the successful token transfer from the contract initiator;
  • Upon transfer receipt, which occurs immediately, the primary contract provider should transfer the agreed-upon token value.

Transfer Contract Satisfaction

It is assumed that all transfers are in good faith and will go off without a hitch; however, not all transfers go smoothly.

BIG Network GUARANTEES all token transfer contracts initiated, and fulfilled, using the P2P Exchange.

Transfer Contract Disputes

In the event of a transfer contract dispute, the penalties to the party in violation may be severe.

VIOLATION FEE (Contract Providers): If a contract provider does not complete the contract order, in part or in full, the initiating party will be refunded their transferred tokens and the contract provider will be issued a 5% violation fee which will be deducted directly from the providers’ wallet.

*Hint: for contract providers, don’t send tokens if the initiating party does not transfer first.

VIOLATION FEE (Contract Initiators): If a contract initiator does not complete the contract order, in part or in full, the contract provider will be refunded their transferred tokens and the contract provider will be issued a 5% violation fee which will be deducted directly from the initiators’ wallet.

*Hint: for contract initiators, take screenshots of your proposed contract agreement, terms, chat messages, etc. This may assist in contract disputes.

VIOLATION FEE (Contract Initiators): If a contract initiator does not complete the contract order, in part or in full, the contract provider will be refunded their transferred tokens and the contract provider will be issued a 5% violation fee which will be deducted directly from the initiators’ wallet.

VIOLATION FEE (Malicious Intent): If either party is found to have provided a contract for consideration, or initiated a contract, with malicious intent, the violating party may be issued fees up to 100% of the contract agreement. Malicious intent, or suspected malicious intent, will be brought before a committee for penalty evaluations. Malicious intent will be evaluated based on intent to commit fraud, deceive, and/or bait transactions. Member accounts with multiple infractions may risk account suspension and/or forfeiture of accounts and balances.

Transfer Contract Disputes: Non-Interference

Buyers Remorse: If the contract provider fulfills the terms of the contract, and no discrepancy is determined, the contract will stand. If the initiating party has multiple instances of buyer’s remorse, beginning with the 2nd dispute, the initiating party will be issued a 10% contract violation fee. The contract violation fee will increase by 5% for each additional infraction.

Off-site Agreements: If the parties engage in a transfer contract agreement off-site, not through the P2P Exchange, no guarantee will be offered to either party.

P2P Token Transfer Form