Marketplace CoArt — Terms of Use

Effective Date: 11 November 2025

1. Scope & Commercial Relationship

These Terms of Use govern all access to and use of Marketplace CoArt.

Tokenized Blue Chip Art Objects sold via Fractional Crypto Certificates (FCC), representing digital claim rights and economic participation.
Other items sold as a whole, which convey legal ownership through a separate sales contract.

Business-to-Business (B2B) Relationship: by using the Marketplace, you represent that you act in a commercial capacity and not as a consumer.

2. Role of the Marketplace

Intermediary only. Marketplace acts as a non-custodial intermediary and blockchain registry provider.
No ownership. Marketplace CoArt does not own the underlying objects.
EU intermediary protections. Marketplace operates under applicable intermediary protections.

3. FCC — Blockchain, Recording & Object Identification

3.1 Recording of Rights

The Marketplace blockchain registry records transfers and changes of digital claim rights.

3.2 Verification Purpose Only

The registry helps verification but is not a full legal title examination.

3.3 Object Identification

FCC includes data to verify authenticity and reduce substitution risk.

3.4 FCC Structure

Each FCC can include multiple indivisible fractions. By default, 10,000 fractions are created per FCC.

3.5 Rights Conferred by FCC

Economic participation under Marketplace/object-owner terms.
Transferability subject to law and platform rules.
Verification of authenticity and transfer history.

3.6 Rights Not Conferred

No legal title in the physical object.
No governance, fiduciary, or managerial rights.
No guarantee of absence of liens or encumbrances.

4. Purchases of Full-Object Items

Where an item is sold as a whole, title transfer is governed by a separate sales contract.

5. Payments, Fees & No Custody

Payments are processed by third parties.
Marketplace may deduct disclosed commissions and fees.
No Guaranteed Refunds. Refunds are discretionary.
Obligation to Pay. Transfer/issuance creates payment obligation even if processor errors occur.

6. Representations & Warranties

You confirm legal capacity, sanctions compliance, and authority to bind any represented entity.

7. No Title Examination, No Warranty, As-Is

Items are provided as-is, without warranties, including title and marketability warranties.

8. Limitation of Liability, Indemnity & Release

To the maximum extent permitted by law, Marketplace CoArt and affiliates are not liable for direct or indirect damages from platform use.

8.1 Indemnification

You agree to indemnify and hold harmless Marketplace CoArt and affiliates.

8.2 Release of Claims

You release Marketplace CoArt from claims related to ownership, title, provenance, authenticity, negligence, contract, and tort claims.

8.3 Retroactive Application

These Terms also apply to users who acquired FCC/full objects before publication or effective date.

8.4 Independent Contractors

No partnership, agency, employment, or fiduciary relationship is created.

8.5 Waiver of Right to Sue

Disputes must be handled as set out below and not through court litigation, except where legally required.

9. Dispute Resolution

Mandatory Arbitration: disputes are resolved by binding arbitration in Vilnius, Lithuania.
Waiver of Court Proceedings: parties waive jury trial and broad court litigation rights.
No Class Actions: disputes are resolved individually.

10. Governing Law

These Terms are governed by the laws of England and Wales unless mandatory law requires otherwise.

11. Compliance, KYC & Sanctions

Marketplace may require identity verification and may deny/suspend access for non-compliance.

12. Amendments

Marketplace may update these Terms; continued use means acceptance.

13. Miscellaneous

Severability: invalid provisions do not affect remaining provisions.
Entire Agreement: these Terms are the full agreement between you and Marketplace regarding FCC/full-object purchases.
No Fiduciary Duty: no fiduciary relationship is established.

Marketplace CoArt — by using the platform you agree to these Terms.