TERMS AND CONDITIONS
Participation and Contribution
NAC Travel International Ltd.
Decentralized Digital Currency Trading Platform
Summary of Business
The NAC Coin is an Ethereum based cryptocurrency with a fixed number of 70,000,000 tokens in existence. NAC Travel International has created a Pool of fixed assets of Properties kept in trust by NAC Travel International and sells NAC Coins against it. A catalog of properties in the portfolio backing The NAC Coin is always available on the property.nac-travel.org web site for viewing and evaluation.
The Terms and Conditions contained herein are the basis of the Agreement between you the User (in this Agreement hereinafter referred to as either “you,” “your” “client” “ contributor” or “user”), and NAC Travel International Pty Ltd., a South African Company, (in this agreement hereinafter referred to as either ” NAC Travel International.,” “NAC”, NAC Coin,”we”, “us” “NAC Travel”, the website, or “our”) and applies to your use of the NAC Travel International website at www.nac-travel.org and its sub domains (the “Website”) and the Services and “NAC Coin”. Users of The NAC Coin include but are not limited to registered members, as well as any visitor who uses the website in any way, shape or form.
Initially, all tokens will be pre-mined and kept in trust by NAC Travel International Pty Ltd. (NAC) in a pool known as the Token Reserve (TR). During a “first round” NAC release 5,000,000 tokens for sale from the TR at R100 for a consideration in a R500,000,000 ZAR NAC Coin pool. All coins in that pool are made redeemable in exchange for their equivalent in NAC Coins based on their appraised value.
New issuance: If NAC wants to release more tokens for sale in a subsequent round, it may opt to do so by offering “N” NAC Coin token for sale from the TR where “N” = (ZAR value of second round Coins) / (Average ZAR price of the NAC token on free trading crypto exchanges). Those token may be offered in private sales or sold in the open market outright. The tokens are to be taken from the token pool in A. The purpose of that clause is to be non-dilutive to existing NAC Coin holders. NAC will cover all associated costs storage/insurance/management. NAC Coins sent to NAC for cash redemption will be returned back to the TR. The TR balance will be verifiable at all time on www.nac-travel.org and the ethereum blockchain to ensure that the amount of free trading tokens matches the coin assets currently held by NAC. When you buy an original offering of NAC Coin from NAC it will be sent to the Ethereum Wallet provided by the Buyer at the time of purchase. If the Buyer does not have an Ethereum Wallet already then NAC can create one for the Buyer and then apply the NAC Coin purchased directly into that Wallet. Alternatively, NAC Coins can be held in trust by NAC until the Buyer obtains a valid Ethereum address.
By opening an account or accessing the NAC Coin Website, you agree to the following terms:
YOU FURTHER AGREE THAT ANY DISPUTES BETWEEN YOU AND NAC TRAVEL INTERNATIONAL PTY LTD. WILL BE RESOLVED BY BINDING, INDIVIDUAL ARBITRATION AND YOU WAIVE YOUR RIGHT TO PARTICIPATE IN A CLASS ACTION LAWSUIT OR CLASS-WIDE ARBITRATION. IF YOU DO NOT AGREE TO ABIDE BY ALL OF THE ABOVE, PLEASE DO NOT USE THIS SITE.
1.2 Representations and Warranties
In addition to any other representations and warranties contained within these Terms and Conditions, you further represent and warrant that:
1.3 Undertakings by User
1.4 Confidentiality and Security
You are responsible for maintaining the confidentiality and security of your login ID and password, and accept responsibility for all activities that occur under your account or password.
You must notify us immediately in the event that the security of your login or password has been breached or compromised.
1.5 Exclusion of Liability
NAC Travel International Pty Ltd. shall in no event be liable whether in an action in negligence, contract or tort based on a warranty or otherwise for any damage, loss, expense or costs of any kind (including loss of profits, revenue, or loss or inaccuracy of data), whether direct or indirect, incidental, punitive, special, consequential or economic, even if NAC Travel International Pty Ltd. or its representatives are advised of the possibility of such damages, howsoever caused as a result, directly or indirectly, of or arising from or in connection with:
NAC will to the best of its ability ensure that all information is accurate and up to date daily.
1.7 Intellectual Property
1.8 Links to Other Websites
1.9 Linking to the Website
2.0 PARTICIPATION AND CONTRIBUTION
(i) Participation in the Funding is voluntary. Each Contributor will be deemed as having perused and comprehended these Terms and Conditions in full (inter alia, the risk factors set forth below) and having voluntarily accepted all the warranties made and the risks disclosed thereunder.
(ii) Other than the provisions set out below no Contributor is required to be pre-qualified or registered for participating in the Funding prior to the Funding Window becomes open, provided that each Contributor shall represent and warrant that:
(a) He/she is of sufficient age (minimum 18 years of age) to participate in the Funding and has full capacity of civil conduct under the laws of the jurisdiction where he/she is domiciled;
(b) He/she is legally permitted to participate in the Funding and is legally permitted to receive and hold crypto-currency;
(c) His/her participation in the Funding is voluntary and based on his/her own independent judgment without being coerced, solicited or misled by anyone else;
(d) He/she has sufficient knowledge on crypto-currencies, cryptographic tokens, cryptographic protocol and blockchain technology; and
(e) He/she does not contemplate to use BAM for any speculative, illegal or non-ethical purpose.
(f) He/she does not intend to break or misuse the concept, company for money laundering or any illegal activities
(iii) Unless and until otherwise required by any applicable law or regulation that may come into force from time to time in any jurisdiction, each Contributor will provide identification as requested by the company at any time to ensure our Know Your Customer (KYC) guidelines are being met in accordance with company policy in order to participate in the Funding. The Company shall be under no obligation if false information is given by the client and the client takes sole accountability for any misrepresentation.
(iv) The Company does not recommend or suggest any Permanent Residents or Citizens, of the United States, Territories or entities participate in the Funding and by agreeing to the Terms and Conditions of this offering the company is hereby not responsible for any negligence or potential breach of laws by Permanent Residents or Citizens of the United States, Territories or entities in connection with this offering or participating in this offering.
CURRENCY AND AMOUNT OF CONTRIBUTION
The Company will accept and hold all the contributions made during the Funding Window up to Five million (5,000,000) NAC Coins (the “ Funding Cap”). Any further contribution beyond the Funding Cap will be rejected and/or refunded unless additional NAC Coins can be added to the underlying portfolio. Funding can be made with the use of bank transfer, BitCoin or another Ethereum Currency.
Client will be able to redeem NAC Coins into Bitcoin or Ethereum cryptocurrencies whenever they wish. If the client wants to redeem the total value or a portion of the value of his/her assets for a local currency they will have to contact NAC directly to process their request. The Properties in the portfolio will constantly be evaluated in accordance with our compliance standards.
Each Contributor shall declare, bear and pay all such taxes, duties, imposts, levies, tariffs and surcharges that might be imposed by the laws and regulations of any jurisdiction as a result of or in connection with the receipt, holding, use, purchase, appreciation, trading or divestment of NAC (no matter whether rewarded for participating in the Funding or otherwise acquired). Each Contributor shall be solely liable for all such penalties, claims, fines, punishments, liabilities or otherwise arising from his/her underpayment, undue payment or belated payment of any applicable tax. NAC provides no advice and makes no representation as to the tax implication of any jurisdiction.
3.1 Registration of a NAC Travel International Pty Ltd. Account
In order to use any of the Services, you must first register by providing: 1. your first and last name; 2. physical address (Country of Residency); 3. an e-mail address; 4. Telephone number; 5. Country of Citizenship; 6. Date of Birth; 7. copy of Passport or other acceptable proof of Identity from the Country of Residency; 8.Ethereum address to deliver NAC Coins. (If the Buyer does not have an Ethereum Wallet then NAC can hold the Buyer’s NAC Coins in trust until such a time that they acquire a BitCoin or Ethereum address from which the Buyer will be sending funds), 9. password; and 10. affirming your acceptance the Terms and Conditions of this agreement.
Upon successful completion of the registration process, BitGem Asset Management Ltd. will establish your NAC Coins. Account.
NAC Travel International Pty Ltd. may, in our sole discretion, reject any application to establish a NAC Coin Account, or limit the number of NAC Coin Accounts that a user may establish and maintain at any time.
3.2 Identity Verification
In order to use certain features of the Services, and to purchase any Products, including certain transfers of vouchers and/or currency, you will be required as a minimum to provide NAC Travel International Pty Ltd. the certain personal information as detailed in 3.1 above. NAC Travel International Pty Ltd. may also require you to answer certain questions or take certain actions in order for NAC Travel International Pty Ltd. to verify your identity, provide the Services to you, or comply with applicable law. In submitting this or any other personal information as may be required, you verify that the information is accurate and authentic, and you agree to update us if any information changes. You hereby authorize NAC Travel International Pty Ltd to, directly or through third parties, make any inquiries we consider necessary to verify your identity and/or protect against fraud, including to query identity information contained in public reports (e.g., your name, address, past addresses, or date of birth), to query account information associated with your linked BitCoin or Ethereum Wallet (e.g., name or account balance), and to take action we reasonably deem necessary based on the results of such inquiries and reports.
3.3 NAC Travel International Pty Ltd.’s Online Currency Wallet.
When you buy an original offering of NAC Coin from NAC it will be sent to a BitCoin or the Ethereum Wallet provided by the Buyer at the time of purchase. If the Buyer does not have an Ethereum Wallet already set up at the time of purchase NAC can hold the Buyer’s NAC Coins in trust until such a time that the Buyer acquires an Ethereum wallet. In addition, on a case by case basis, and at NAC’s discretion, NAC Coin can be held in trust by NAC until the Buyer obtains a valid Ethereum address.
4.1 Ordering Policy
From time to time www.nac-travel.org and its subdomains will conduct Crowdfunding of multiple rounds of NAC Coins directly offered from the Reserve Tokens (RT) already pre-mined by NAC. Seventy Million (70,000,000) pre-mined NAC Coins are already held by NAC. Crowdfunding of NAC Coins will start on June 7, 2021 at 7 am and consist of a presale of NAC Coin tokens which to be held in trust by NAC until February 1st, 2022, 9:00am CAT, before being transferred to the Ethereum address provided by the Buyer, or kept in trust, until Buyer provides an Ethereum address.
Once a Buyer opens an account and that account verification is accepted they can participate in any Crowdfunding of NAC Coins. However NAC reserves the right to cancel or refuse any transactions or orders due to:
This list is by no means exhaustive. If you do not receive an order confirmation number, the order is not confirmed.
NAC Travel International Pty Ltd offer travel and real estate packages, unless otherwise noted.
NAC Coins are produced for investment purposes and are subject to volatility like any other commodity. NAC Travel International does not replace items if lost, stolen or in connection with identity theft.
4.2 Cancellation Policy
An item may be cancelled up until payment confirmation at check out.
4.3 Purchase Policy
“Purchase” refers to a purchase at NAC Travel International which occurs only when a user confirms at checkout the amount and quantity of NAC Coins, and receives a confirmation order from NAC Travel International Pty Ltd.
4.4 Refund Policy
You agree that all sales are final and no refund is possible for our NAC Coins other than outlined in the “Redemption” section of this agreement. Sell orders for our items are binding when a user checks “I agree to the Terms and Conditions” and confirms the order by clicking “Confirm” at checkout.
4.5 Personal Withdrawal
Users who hold NAC Coins with us can choose to withdraw their state in property from our custodial vaults. However, since the Properties that make up the portfolio which backs NAC Coins maybe set inco ownership, it would not be practical to sell off the property as a whole. You will have the following options:
A fee of R1500 ZAR will be charged for administrative fees. This can be paid with a credit card or through your Online Currency Wallet. Customers must bear any expense in regard to travel.
4.6 Shipping and Insurance
NAC properties will have the mandatory minimum insurance coverage to protect NAC Coin holders from loosing value in case of destruction of property.
4.7 Private Viewing Requests
Users who purchase NAC Coins can view the Properties that make up our Portfolio at our custodial vaults by requesting a private viewing of the escrowed assets whenever needed. We will meet you at our the select properties.
The value of Properties owned by NAC Travel International Pty Ltd and held in escrow is
insured by the relevant insurance company in South Africa.
The NAC Network represents a Pool of Property assets of which have been certified and valued and NAC has enabled a NAC Coins valued at ZAR100 to initially represent a ZAR100 value purchased a fraction of the set valuation of the Pool of Properties. Thus giving the client a new investment tool in order to use in their investment strategy.
6.1 Valuation Method of Properties held in escrow underlying NAC Coins
The escrowed Properties that make up the initial portfolio of ZAR500,000,000 which backs the first 5 Million NAC Coins have been appraised.
7.1 Computer Viruses and Trojans
We shall not bear any liability, whatsoever, for any damage or interruptions caused by any computer viruses, spyware, scareware, Trojan horses, worms or other malware that may affect your computer or other equipment, or any phishing, spoofing or other attack. We advise the regular use of a reputable and readily available virus screening and prevention software. You should also be aware that SMS and email services are vulnerable to spoofing and phishing attacks and should use care in reviewing messages purporting to originate from NAC Travel International Pty Ltd. Always log into your NAC Travel Account through the Website to review any transactions or required actions, if you have any uncertainty regarding the authenticity of any communication or notice.
8 RISK FACTORS
Each Contributor should peruse, comprehend and carefully consider or seek legal advise as to the risks described below in addition to the other information stated herein before deciding to participate in a Crowdfunding. Making a contribution under the Crowdfunding will be deemed as the relevant Contributor having accepted all the risks outlined in this document.
The Crowdfunding may be terminated pursuant to “Termination”, in case of which a Contributor
may only be refunded with part of his/her bitcoin/Ethereum contribution as a result of the
bitcoin/Ethereum price’s volatility and/or the expenses incurred for NAC.
Crypto-currencies are being, or may be, scrutinized by the regulatory authorities of various jurisdictions. NAC may receive queries, notices, warnings, requests or rulings from one or more regulatory authorities from time to time, or may even be ordered to suspend or discontinue any action in connection with NAC. The development, marketing, promotion or otherwise of NAC may be seriously affected, hindered or terminated as a result. Since regulatory policies could change from time to time, existing regulatory permission or tolerance on NAC in any jurisdiction could be temporary only.
Advances in cryptography, such as code cracking or technical advances such as the development of quantum computers, could present risks to all crypto-currencies including NAC. This could result in the theft, loss, disappearance, destruction or devaluation of NAC. To a reasonable extent, NAC will be prepared to take proactive or remedial steps to update the protocol underlying NAC in response to any advances in cryptography and to incorporate additional reasonable security measures where appropriate. It is impossible to predict the future of cryptography or the future of security innovations to an extent that would permit the NAC accurately guide the development of NAC to take into account such unforeseeable changes in the domains of cryptography or security.
NAC is still in the process of development rather than a finished product ready to launch. Due to the technological complexity and difficulty that may be uncertain, unforeseeable and/or insurmountable, the development could fail or abort at any time for any reason.
Nobody can guarantee the Ethereum source code used by NAC to be flaw-free. It may contain certain flaws, errors, defects and bugs, which may disable some functionality for users, expose users’ information or otherwise. Such flaw would compromise the usability and/or security of NAC Coins and consequently bring adverse impact on the value of NAC Coins. Open source codes rely on transparency to promote community-sourced identification and solution of problems within the code
The Ethereum source code could be updated, amended, altered or modified from time to time by the developers and/or the community of Ethereum. Nobody is able to foresee or guarantee the precise result of such update, amendment, alteration or modification. As a result, any update, amendment, alteration or modification could lead to an unexpected or unintended outcome that adversely affects NAC Coin’s operation or market value.
The blockchain of NAC Coin rests on open-source software. Regardless of NAC’s effort to keep the blockchain secure, anyone may intentionally or unintentionally introduce weaknesses or bugs into the core infrastructural elements of NAC Coins which the security measures adopted by the Company are unable to prevent or remedy. This could consequently result in the loss of NAC Coins held by a Contributor.
The loss or destruction of a private key required to access NAC Coins may be irreversible. NAC Coins are controllable only by the possessor of both the unique public and private keys relating to the local or online NAC Coins wallet. Each Contributor is required to safeguard the private keys relating to his/her own NAC Coins wallets. To the extent such private key is lost, destroyed or otherwise compromised, neither NAC nor anyone else will be able to access the related NAC Coins.
Ethereum is an open source project and supported by the community. The developers of NAC do not lead the development, marketing, operation or otherwise of Ethereum. Anybody may develop a patch or upgrade of the source code of Ethereum’s source without prior authorization of anyone else. The acceptance of Ethereum patches or upgrades by a significant, but not overwhelming, percentage of the users could result in a “fork” in the blockchain of Ethereum, and consequently the operation of two separate networks and will remain separate until the forked blockchains are merged. The temporary or permanent existence of forked blockchains could adversely impact the operation and the market value of NAC Coins and in the worst case scenario, could ruin the sustainability of NAC Coins. While such a fork in the blockchain of Ethereum would possibly be resolved by community-led efforts to merge the forked blockchains, the success is not guaranteed and could take long period of time to achieve.
NAC Coin is not a currency issued by any individual, entity, central bank or national, supranational or quasi-national organization, but is backed by hard assets. The circulation and trading of NAC Coin on the market depends on the consensus on its value between the relevant market participants. Nobody is obliged to redeem or purchase any NAC Coins from any Contributor or
NAC Coin holder. Nor does anyone guarantee the liquidity or market price of NAC Coins to any extent. To divest his/her NAC Coin portfolio, a NAC Coin holder would be able to sell their NAC Coin on a cryptocurrency exchange that trades NAC Coins or trade their NAC Coins for hard currency or equal value at a location provided by NAC. NAC has no control over market price or liquidity of NAC Coins once NAC Coins start to trade in the open market.
Crowdfunding will be initiated on June 7th, 2021 and takes place worldwide and is not linked to any specific jurisdiction. The Buyer may be from any jurisdiction in the world that legally allows the purchase of Cryptocurrencies. However, residents of North Korea, Iran, Syria and the State of New York are specifically excluded from buying NAC Coins.
The Client (Contributor or Buyer) covenants and agrees to indemnify and save harmless NAC Travel International Pty Ltd and its directors, officers, employees, agents, and representatives from and against all losses, claims, damages, payments, liabilities, costs, fines, taxes, penalties and expenses (including the amount paid in settlement of any claim, action, suit or proceeding and the fees and expenses of counsel incurred obtaining advice in respect of, or in defending or settling, any such claim, action, suit or proceeding) of whatsoever nature or kind to which they may become subject or otherwise involved by reason of or in any way arising out of the course of business.
9.3 GOVERNING LAW
This Agreement shall be governed by and construed in accordance with the Laws of Republic of South Africa.
In the event that any provision contained in this agreement shall be determined to be invalid, illegal, or unenforceable in any respect for any reason, the validity, legality and enforceability of any such provision in every other respect and the remaining provisions of this agreement shall not, at the election of NAC Travel International Pty Ltd be in any way impaired.
9.5 ENTIRE AGREEMENT
This Agreement constitutes the entire agreement among the parties with respect to the subject matter hereof. The execution of this Agreement has not been induced by nor do the parties rely upon or regard as material, any covenants, representations or warranties whatsoever not incorporated herein and made a part hereof.
9.6 PROHIBITED ACTIVITIES
The Client is prohibited from violating any law, statute, ordinance or regulation in our registered jurisdiction as well as their Country or Origin or Residency
9.7 NEGATIVE INFORMATION
The Contributor agrees to refrain from making, any negative, detracting or unfavorable statements concerning NAC, any Subsidiaries, Affiliates or Branches their respective business or business endeavors, products or product history, or their respective former or present officers, directors, agents, distributors or consultants, which may have the effect of diminishing the reputations of NAC or any Subsidiaries, Affiliates or Branches or respective former or present officers, directors, agents, distributors or consultants of NAC or any Subsidiaries, Affiliates or Branches or of its business or business endeavors.
9.8 BENEFIT OF BURDEN
This Agreement shall be binding upon, and inure to the benefit of the parties hereto and, as applicable, their respective heirs, executors, administrators, representatives, successors and assigns.
9.9 ILLEGAL USE OF FUNDS
Contributor warrants and represents that the funds being used by the Contributor to participate in activities of NAC Travel International Pty Ltd hereunder will not represent proceeds of crime for the purposes of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (the “PCMLFTA”) and the Contributor acknowledges that NAC may in the future be required by law to disclose the Contributors name on a confidential basis, pursuant to the PCMLFTA. To the best of NAC’s knowledge, none of the funds to be provided by the contributor of the be beneficial purchaser are being tendered on behalf of a person or entity who has not been identified to the Purchaser, and the Purchaser shall promptly notify NAC if the Purchaser or the Beneficial Purchaser discovers that any of such representations cease to be true, and shall promptly provide NAC with all necessary information in connection therewith
9.10 INVESTMENT SUITABILITY
The Purchaser and each Beneficial Purchaser, if any, for whom the Purchaser is acting as trustee or agent, has such knowledge and experience in financial and business affairs as to be capable of evaluating the merits and risks purchasing cryptocurrencies and specifically NAC Coins and is able to bear the economic risk of total loss of such investment.
Please contact our online support if you have any complaints or concerns regarding our service.
9.12 CHANGE TO TERMS AND CONDITIONS
These Terms and Conditions are subject to change without prior notice.
At NAC we do not condone the use of our Products and Services for any form of illicit activities. Money laundering methods may appear in a variety of sophisticated forms. We will do our utmost to prevent and report any suspicious activities to the relevant legal authorities. By using our Services, you agree that you do not use the Services to engage in any activity that is in connection with the following businesses, activities, practices, or items.
In this Policy, “Personal Information” refers to any information, whether true or not, about an individual who can be identified from that information; or from that information and other information to which we have or are likely to have access, including information in our records as may be updated from time to time, and any other information relating to any individuals which you may have provided us from time to time in your interaction with us. Also, the terms “you,” “your” or “user” shall refer to you, the user, and “NAC,” “we”, “us” or “our” shall refer to us, NAC Travel International Pty Ltd.
○ Suspicious transaction activities;
○ To meet any law, regulation, or governmental request from the SA Courts only;
○ To comply with anti-money laundering laws (AML). For further information on this, please see our Policy page
○ Preventing and reporting fraud and illicit activity.
○ See what data we have about you, if any.
○ Change/correct any data we have about you.
○ Have us delete data we have about you provided you do not have a business relationship with NAC or NAC services
○ Express any concern you have about our use of your data.
○ You may opt out of any future contact from us at any time.