Website Terms & User Agreement
NOTE (ALPHA TESTING):
These terms are a work in progress and do not apply during Alpha Testing
By using the Favabank service (including but not restricted to this website), you agree to abide by the following terms (User Agreement). Any transgression of these terms will result in an investigation and potential suspension / termination of your account.
In these conditions the following expressions shall be given the following meanings:
'Favabank', 'We', 'Our' - Refers to Favabank Ltd
'Fava' - The unit of virtual currency issued and controlled exclusively by Favabank Ltd
'Ads' - Adverts for Items or Services placed by Favabank members.
'Content' - Text, Pictures (including photographs) and all other media (e.g. video) which appears on the Favabank website
'User', 'You', 'Your' - Any member (registered user) or visitor (including non-members) to the Favabank website.
'Items' - Property of a user, offered to other users in exchange for virtual currency (Fava).
'Time' - A User's labour or skills offered to other users in exchange for virtual currency (Fava).
'The Services' - Services provided by Favabank (including but not limited to Favabank.co.uk)
Description of The Services:
- Favabank is a venue for communication and trading of Items and Time amongst Users
- Favabank provides a mutual credit system to facilitate trades using a virtual currency (Fava) for exclusive use within Favabank or by 3rd parties authorised by Favabank
- Favabank provides summaries of User activity, such as User's trading history and balance levels.
- Favabank provides User notifications (including but not limited to emails), as per User selectable notification preferences.
- In addition to User Notifications, Favabank also provides email updates and notifications about Favabank. These are part of the ongoing relationship between Favabank and the registered User.
User Eligibility and Access:
- Registration to Favabank is not available to anyone under 18 years of age
- Registration is only available to UK residents
- A valid email address is required to register and use The Services
- Registration is not available to anyone who has previously had an account terminated by Favabank
- You must be able to form legally binding contracts to register as a Favabank member.
- Certain information and postings can be browsed by non-members, according to privacy settings specified by Users. Transactions and exchange of Fava credit can only occur between registered members.
- With respect to applicable laws, we reserve the right to refuse access to the Favabank service to anyone at at our sole discretion
User Obligations & Acceptable Use:
- All User interactions on Favabank should be conducted in the spirit of the Code of Conduct
- Favabank must not be used for illegal purposes. The laws of your jurisdiction apply in the use of Favabank any action which violates those laws will be in breach of this agreement
- You must not violate any 3rd party copyright, trade mark or intellectual property rights
- You must not use any form of threatening behaviour, harassment, bullying, libellous, obscene, unlawful, or otherwise objectionable behaviour
- You must not incite hatred or practice any kind of illegal discrimination
- You must not offer services or post content of a sexual, pornographic or otherwise inappropriate nature
- You must use your real name and profile pictures which are of genuine likeness
- You must not create false accounts or impersonate others, or in any other way infringe our requirement for authentic Users. The creation of multiple accounts is not permitted
- You must keep your profile information fully up to date, including your address and contact details
- You must not use other members' accounts and the sharing of passwords is not permitted (unless our consent is given). You must take all reasonable measures to protect and ensure the security of any passwords
- You must not use any messaging systems or the personal email address of users to send unsolicited messages to other users
- You must not use The Services to promote pyramid or multi-level-marketing schemes
- You must provide accurate and up to date info about Items or Time offered, profiles, skills and other Content
- You must not persistently choose inappropriate categories for Ad postings
- No hacking or modification of Favabank is permitted. You must not use another website (or any other media) to impersonate Favabank or falsely claim or suggest that another website is associated with Favabank
- No unauthorised use of robots, spiders, software, worms or viruses or any malicious code on the Favabank website(s) is permitted, including any attempts to disable the website (including but not limited to denial of service attacks)
- You will personally compensate other Users for any damages or injuries caused to them through any interaction via Favabank according to your legal jurisdiction
- The Items offered by a User for trade must be the property of the User. Favabank cannot be used to trade Items to which you have no legal entitlement (e.g. stolen or counterfeit goods)
- Time can be traded between users on a non-professional (amateur) basis. If a trade occurs as part of the profession of the user, the user is liable for any taxes that would normally be incurred as part of a professional transaction based on the parity of 1 Fava to £1 Sterling
- A User providing services that they would normally perform on a professional basis has the responsibility to ensure they comply with any taxation obligations and all other laws associated with their profession
- Favabank encourages local trades, where Items are collected from the User's home or other agreed collection point. Should any Items be delivered by post, it is done so at User's own risk. When posting an Item it is the User's responsibility to ensure that Items are properly packaged and correctly labelled. Any disputes regarding undelivered Items should be settled between users, or ultimately referred to Favabank who, upon its judgement and at its sole discretion, can deduct or transfer Fava credits between the accounts of the parties involved
- Descriptions of Items offered should be accurate, detailing any defects or otherwise unexpected features as clearly as possible
- When offering Time, Users must be honest in declaring their skill levels or qualifications in relation to the requirement
User Generated Content:
- Content posted on Favabank is user generated. While every effort is made to ensure that content is appropriate, you accept that in using The Services you risk exposure to inappropriate or offensive material and do not hold Favabank responsible for such exposure.
- You grant Favabank the right to republish any non-private user generated content which would ordinarily be accessible to any Favabank user, to 3rd party websites (e.g. Facebook, Twitter...)
- Any content which is republished by any 3rd parties in any format, must contain a reference to www.Favabank.co.uk (websites must contain a backlink)
- Any deleted content, whether through account termination or through user deletion may persist in an archived Favabank database, even though it will not be visible by other users
- We reserve the right, but are not obliged, to remove any content which we consider to breach any terms of this agreement
- The Services include a Mutual Credit System whereby users may extend credit between one another to compensate for the exchange of Items and Time. The unit of credit takes the form of a 'Fava', a virtual currency issued and controlled exclusively by Favabank
- Favas are freely transferable among users within the Favabank system or any Favabank authorised 3rd party system
- Fava points cannot be redeemed or transfered via any means which are not authorised by Favabank
- In the event that a Favabank account is closed, whether by voluntarily by the user or by Favabank due to an infringement of these terms, any previous transactions via that account may remain as historical transactions within the Favabank system, although the User's name will no longer be displayed.
- The Fava is a complementary currency based on 'mutual credit', it is Not Legal Tender, has no intrinsic value outside of the Favabank services
- Favabank reserves the right to introduce demurrage or other measures which may affect the value or amount of Fava currency held by any user over time
- Favabank reserves the right to make changes to the way in which the currency works based on User experiences and feedback or due to Favabank's administration and governance of the currency. Where possible, changes will be made via consultation with Users seeking broad consent for any actions taken.
- Your transactions and the exchange of credits involved can be viewed by other users (members and non-members) according to your privacy settings
- Favabank reserves the right to publish amalgamated statistics which may include information sourced from any transaction to which you may have been a party
- Users can freely set the value of individual Item and Time exchanges through mutual consent
- A contract is formed between Users on acceptance of an offer
- Favabank cannot ensure that transactions between Users are completed. Non-completed or partially completed transactions should be addressed by the parties involved in the transaction by using the refund mechanisms provided by Favabank. In the event of continued dispute the matter can be referred to Favabank to make final judgement and adjust individual user Fava balances at its own discretion.
- Fava points are credited and debited to User accounts according to who is giving and receiving the Item or Time traded. The parties are then duly obliged to each other to complete the agreed transaction in full. A contracted is formed at the time an offer is accepted and the transaction completes once the recipient of the Item or Time confirms receipt of goods or services.
Favabank Obligations and Limit of Liabilities:
- Favabank is provided on an "as is" and "as available" basis. Uptime of Favabank is not guaranteed
- Favabank is not liable for any losses due to downtime
- Favabank is not liable for any loss of Content, for any reason
- Neither we nor any third parties provide any warranty or guarantee as to the accuracy, timeliness, performance, completeness or suitability of the information and materials found or offered on this website for any particular purpose. You acknowledge that such information and materials may contain inaccuracies or errors and we expressly exclude liability for any such inaccuracies or errors to the fullest extent permitted by law.
- Your use of any information or materials on this website is entirely at your own risk, for which we shall not be liable. It shall be your own responsibility to ensure that any products, services or information available through this website meet your specific requirements.
- Favabank Provide a means for users to trade Items and Time amongst themselves. Favabank is not responsible for the actual transactions between members and has no liability for actions of its users. This can include the authenticity of users, user safety, quality and safety of Items or Time traded. By using Favabank a User agrees to accept liability for their own actions.
- Favabank contains links to 3rd Party websites. Links are provided for your convenience and Favabank cannot be held liable for any aspect of a 3rd party website. A link to another website does not represent our endorsement of that site
- You are responsible for using the privacy settings provided by the Favabank website to determine the degree to which your personal information can be accessed by other users.
- The User agrees to indemnify and hold Favabank harmless in respect of any damages, injuries, costs and expenses (including reasonable legal fees and litigation expenses), arising out of or relating to any breach of the terms of this agreement or otherwise connected to your use of Favabank.
- A Favabank account may be voluntarily closed at any time, account closure will terminate any obligations under these terms from the point of account closure. Obligations to these terms remain for the period up to the time of account closure and for any periods during which the account is reactivated.
- If a Favabank account is terminated due to infringement of these terms then the user will automatically lose any accrued Fava points and will not be able to seek redress or compensation from Favabank for such losses
- These conditions and any contract into which they are incorporated shall be subject to the laws of England, Northern Ireland, Scotland and Wales.
- These terms may be modified from time to time without notice, it is the User's responsibility to ensure they are up to date with terms.
- This website contains material which is owned by or licensed to Favabank. This material includes, but is not limited to, the design, layout, look, appearance and graphics. Reproduction without consent is prohibited
- All trade marks reproduced in this website which are not the property of, or licensed to, the operator are acknowledged on the website
- Unauthorised use of this website may give rise to a claim for damages and / or be a criminal offence.
- We reserve the right to change, suspend or terminate the Favabank service at any time without prior notification