InsChain Mutual Aid Platform Membership Covenant

    InsChain Fund (hereinafter referred to as “insChain”) is a non-profit company established in Singapore which is dedicated to facilitating the transparent development, construction and governance of insChain.It serves as a non-profit governance organization featuring credibility and democracy for all customers ofinsChain, and facilitates the harmonious and sound development of insChain’s ecology. insChain Mutual Aid Platform (website: https://www.insChain.io) is an online mutual aid platform run by insChain and aims to prevent its members from future risks. This Covenant shall be an agreement to be complied with by insChain Mutual Aid Platform and its members (hereinafter “You”). Please read with utmost care the entire contents of this Covenant before you join insChain Mutual Aid Platform. This Covenant shall be legally binding upon you once confirmed and accepted by clicking.

    The mutual aid plan is not insurance. Joining a mutual aid program is a one-way donation, and it is not expected to be guaranteed risk assurance.

I.  Definition

1.  Members: collectively refer to registered members and mutual aid members.

2.  Registered members: refer to the natural and legal persons with full capacity for civil rights and civil conduct who have filled in the factual information of identities on insChain Mutual Aid Platform and completed the registration procedure.

3.  Mutual aid members: refer to the registered members who participate in the mutual aid program launched by insChain Mutual Aid Platform.

4.  Mutual aid program: refer to the scheme of mutual aid among mutual aid members formulated by insChain Mutual Aid Platform in response to various risks or events, according to which mutual aid members shall have the rights and obligations of mutual aid.

5.  Platform activities: refer to activities launched by insChain Mutual Aid Platform aside from the mutual aid program.

6.  Mutual aid applicants: refer to the members or their legal heirs who need the mutual aid from other members in events specified in the mutual aid program.

II. Structure and Validity of This Covenant

1.  insChain Mutual Aid Platform shall have the right to modify this Covenant and the rules of various mutual aid program from time to time in accordance withfactual situations. Once the modification is made, the platform will fully replace the previous terms and conditions with the modified ones and notify all members in the same way as before. The modified terms and conditions shall take legal effect once publicized oninsChain Mutual Aid Platform and the mutual aid events and all the relevant services shall be subject to the new terms and conditions after the modification.

2.  If you have any question about this Covenant, please consult insChain Mutual Aid Platform. You may not claim this Covenant to be null and void or demand to revoke this Covenant on the grounds that it is not read or accepted.

3.  You shall exercise your rights and fulfill your obligations as agreed in this Covenant. You shall terminate immediately the use of services provided by insChain Mutual Aid Platform for its members if you do not accept the provisions of this Covenant, including but not limited to the modified Covenant. Your continued use of the services provided by insChain Mutual Aid Platform for its members indicates your agreement and acceptance to be bound by this Covenant.

III.    Rights and Obligations

(I).    As a registered member, you shall have the following rights and obligations:

1.  You shall have the right to browse the mutual aid programs and platform activities publicized on insChain Mutual Aid Platform.

2.  You shall have the right to participate in all mutual aid programs or platform activities launched by insChain Mutual Aid Platform.

3.  You shall have the obligation to provide authentic and accurate identity information to insChain Mutual Aid Platform.

4.  You shall have the obligation to ensure that you will not post any fraudulent, unlawful, pornographic, obscene or violent information that violates the national laws, regulations and policies or make offensive and insulting comments on the insChain Mutual Aid Platform.

(II).   As a mutual aid member, you have further rights and obligations on the basis of those of a registered member.

1.  You shall have the obligation to provide mutual aid to members and the right to obtain that from other mutual aid members in accordance with the mutual aid program.

2.  You shall have the access to the information, data, advice and services provided by insChain Mutual Aid Platform, and the right to check the record of your participation in the mutual aid program, to gain understandings of mutual aid events where you are involved and to raise your questions regarding the mutual aid events.

3.  In the event of mutual aid being obtained by mutual aid applicants via false data or information, you shall have the right to entrust insChain Mutual Aid Platform to recover the reimbursement against the mutual aid applicants.

4.  You shall have the right to criticize, advise and supervise the programs of insChain Mutual Aid Platform.

5.  You shall ensure that the information of your registered identity and contact details are authentic and accurate, otherwise you may not obtain the mutual aid.

6.  You shall pay timely attention to the mutual aid events oninsChain Mutual Aid Platform, log in to check your account by yourself, get to know the procedures of mutual aid, carefully fulfill your obligations. You may not hold the Platform accountable on the grounds of any failure to receive the notification from the insChain Mutual Aid Platform.

7.  Once you participate in the mutual aid program, you shall be deemed to have authorized insChain Mutual Aid Platform to deduct corresponding amount in your personal account for mutual aid when amutual aid membermeets the conditions.

8.  You shall pay timely attention to the financial situation of your personal account to ensure your sufficient balance for the performance of the obligations of mutual aid. 

9.  Once you fail to fulfill the obligation of mutual aid for any reason or your balance is lower than 10GETX, you shall be deemed to withdraw from the mutual aid program automatically.

10. You shall ensure proper custody of the user name and password on theinsChain Mutual Aid Platform. All the actions conducted after logging into insChain Mutual Aid Platform with your user name and password shall be deemed conducted by yourself, and any responsibility thereof shall be borne by yourself.

11. A member who applies for mutual aid shall have the obligation to provide authentic and complete data for mutual aid events; otherwise, the applicant will be disqualified from obtaining the mutual aid.

12. You agree that insChain Mutual Aid Platform may, at its discretion, terminate your use of the password, account or certain services, and remove or delete any of your contents left in the services of insChain Mutual Aid Platform while terminating partial or total services if you violate this Covenant or the rules of mutual aid, fail to fulfill the obligation of mutual aid or take actions that cause harm to insChain Mutual Aid Platform and other members. 

13. You understand and agree that once the insChain Mutual Aid Platform detects any improper contents, it may immediately and without prior notification shut down or delete your account and all the relevant information thereof and suspend or permanently prohibit your use of the aforementioned documents or account in accordance with this Covenant.

14. If your account is denied of use for the aforementioned reasons or shut down owing to the cessation of the platform, you shall have the right to claim the refund of your balance in your account against insChain Mutual Aid Platform. However, you may not ask for mutual aid in the future mutual aid events from insChain Mutual Aid Platform or other members.

(III).  insChain Mutual Aid Platform shall have the following rights and obligations:

1.  insChain Mutual Aid Platform shall have the right to formulate various mutual aid programs and initiate mutual aid among members.

2.  insChain Mutual Aid Platform shall have the right to conduct reviews of the applications of mutual aid made by mutual aid members and have the final say on whether the members may be granted the mutual aid.

3.  insChain Mutual Aid Platform shall have the right to manage the funds deposited by mutual aid members into the Platform.

4.  When a mutual aid member satisfies the requirements of mutual aid, insChain Mutual Aid Platform shall have the right to deduct the payment on behalf from the personal accounts of members as the mutual aid fund to the applicant. 

5.  When a mutual aid applicant obtains mutual aid by providing false data or information, insChain Mutual Aid Platform shall have the obligation to recover the reimbursement against the applicant on behalf of all the mutual aid members.

6.  insChain Mutual Aid Platform shall have the right to shut itself down owing to the objective or policy reasons or because the quantity of members is less than a certain level. In this case, insChain Mutual Aid Platform shall refund the balance in accounts entirely to its members.

7.  During its engagement in Internet services, insChain Mutual Aid Platform may be affected by those unstable factors in each link. The services have the risks of services interruption and failure to satisfy the needs of the members due to force majeure, computer virus, hacker attack, systematic instability, location of members, failed communication with members and other reasons of techniques, network and telecommunication lines, for which the Platform makes no warranties and shall not be held responsible for members’ failure of sending, receiving and reading messages or errors in sending and receiving messages incurred thereby.

8.  In case of systematic failure of insChain Mutual Aid Platform that affects the normal functioning of services, insChain Mutual Aid Platform undertakes to cooperate with relevant departments at first time to address the problem and conduct repairing. However, insChain Mutual Aid Platform shall not be liable for any consequential losses caused thereby. In addition, insChain Mutual Aid Platform reserves its right to suspend any part of service without prior notification for the purpose of maintenance, servicing, upgrade or others.

9.  insChain Mutual Aid Platform is a community platform, which shall not be held responsible for any disputes arising among members who participate in mutual aid outside mutual aid events.

10. When a member is involved in the blatant insults or defamation of others or the Platform with fabricated facts or other malicious attacks, insChainMutual Aid Platform shall have the right not to provide services to such a member and the right to recover the damage done to the Platform against it.

IV. Funds Management

1.  insChain Mutual Aid Platform shall have the right to manage the funds deposited by its members. The funds in the accounts will be entirely used to support the aid with regard to the Program and to cover the relevant costs arising therefrom and the services fees charged by the third party that provides necessary services for this Program, including but not limited to:

1)  Communication expenses in contacting members;

2)  Online transaction fees incurred by the decrease of balances of other members due to the allocation of funds to members;

3)  Expenses for investigation and review of the events;

4)  Expenses of member supervision (including notary fees, travel expenses of supervisory members);

5)  Transaction cost of payment institutions;

6)  Expenses to support the sustainable management and development of the Platform; and

7)  Other necessary and reasonable expenses.

2.  When insChain Mutual Aid Platform deducts the mutual aid fund from each member’s account, the fund will be deducted to 0.01GETX. If the total amount deducted exceeds the maximum mutual aid fund, the fraction will be transferred to the funds for the purposes specified in paragrapgh 1.

3.  Only when members withdraw from the mutual aid program will they be able to apply to insChain Mutual Aid Platform for refund of balance.

4.  Members are responsible for the transaction costs associated with the use of the Ethernet network. Once mutual member withdraw from the plan, mutual platfrom will dedeuct 10 GETX as ETH transaction network transaction fee. IF the balance is below 10 GETX, any withdraw will not be permit.

V.  Termination of and Withdrawal from Covenant

1.  This Covenant shall be terminated in any of the following situations:

(1) Where insChain terminates the operation of insChain Mutual Aid Platform for various reasons;

(2) Where the Covenant is terminated owing to force majeure or policy reasons.

2.  You shall be deemed withdrawing from this Covenant in any of the following situations:

(1) Where you violate the national and local laws, regulations and policies, this Covenant or the rules stipulated by insChain Mutual Aid Platform and the Platform suspends the providing services for you;

(2) Where you do not accept the provisions of this Covenant or the various rules stipulated by theinsChain Mutual Aid Platform.

(3) Where you are not qualified for a membership as prescribed in this Covenant.

3.  The termination of this Covenant or your withdrawal from this Covenant shall not affect your obligations and responsibilities for your deeds done during the period when you were bound by this Covenant.

VI. If members find any violation of this Covenant, please notify insChain Mutual Platform in a timely manner.

VII. InsChain Fund and insChain Mutual Aid Platform reserve the right of final interpretation of the Covenant.
    
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