1. Payment Time Rules
-Standard Payment Time Limit: Buyers must complete the transfer and click "I Have Paid" within 15 minutes.
-Countdown Mechanism: The countdown starts immediately after an order is created with remaining time displayed on the page. If payment is not completed within the time limit, the order will be automatically canceled by the system and the seller’s assets will be unlocked.
-Consequences of Late Payment: Users with 3 cumulative instances of overdue payment will have their P2P purchasing function restricted for 24 hours.
2. Order Cancellation Rules
Cancellable by Buyers
-Pending Payment: Manual cancellation is allowed with no violation record.
-After Payment: Active cancellation is prohibited; only dispute applications are acceptable.
Cancellable by Sellers
-Buyer Overdue Payment: Orders are auto-canceled by the system with no operation required from sellers.
-Duplicate or Malicious Orders: Sellers may file reports. The platform will force order cancellation and restrict the buyer’s account after verification.
Forced Cancellation by Platform
-Either transaction party shows signs of violations including money laundering, fraud, or third-party payment.
-Incomplete orders with no disputes for over 24 hours.
-Post-cancellation rules: Assets will be returned to the seller’s frozen balance. No impact on buyers if no deduction is made; a dispute process will be initiated if payment has been deducted.
3. Restriction Mechanisms (Risk Control / Freeze / Quota Limit)
1.Mandatory KYC Restriction
-Users without completed KYC: Access to P2P services is prohibited.
2.Transaction Behavior Restrictions
-Mass order placement or frequent cancellations within a short period will trigger risk control, resulting in a 24–72 hour P2P restriction.
-Excessively high dispute rate (>10%): Transaction permissions will be restricted, and severe violations will lead to account freezing.
3.Asset Freeze Rules
-Seller Order Posting: Relevant assets will be frozen in real time until the transaction is completed or canceled.
-After buyer payment: Assets remain frozen until the seller releases the tokens.
-Disputed Orders: Full assets of both parties will be frozen pending arbitration results.
4.Security Protection (T+N Mechanism)
-New accounts & first-time purchasers: Purchased assets can only be sold or withdrawn after a T+1 holding period.
-High-risk transactions: The platform may extend the holding period to T+3 or T+7 days, subject to official platform regulations.
Comments
0 comments
Please sign in to leave a comment.