1. Nature of the P2P Platform
- 1.1 Norbit operates as a peer-to-peer marketplace that facilitates users to discover and interact with other users for digital asset transactions.
- 1.2 Norbit does not act as a buyer, seller, broker, agent, or payment intermediary in P2P transactions.
- 1.3 Fiat currency transfers occur directly between users outside of the Norbit platform through their chosen payment methods.
2. Crypto Escrow & Smart Contract Settlement
- 2.1 Digital assets involved in a P2P trade may be temporarily locked in a smart-contract-based crypto escrow to facilitate settlement.
- 2.2 Norbit does not take custody of fiat funds at any point.
- 2.3 Release of crypto assets is contingent upon trade conditions being met as defined by the platform rules and dispute outcomes (if any).
3. User Responsibility & Due Diligence
3.1 You are solely responsible for:
- Verifying the identity and payment details of your counterparty
- Ensuring payments are made from accounts owned by you
- Confirming receipt of funds before releasing crypto assets
3.2 You agree not to accept payments from third parties.
4. Prohibited Conduct
You agree that you will NOT:
- Use Norbit P2P for money laundering, terrorism financing, fraud, scams, or any illegal activity
- Provide false, misleading, or forged payment confirmations
- Cancel payments after crypto has been released
- Attempt to bypass Norbit's escrow or dispute resolution mechanisms
- Engage in wash trading, price manipulation, or abusive behavior
Norbit reserves the right to suspend, restrict, or terminate accounts engaging in prohibited conduct.
5. Dispute Resolution
- 5.1 In the event of a dispute, you agree to submit accurate and complete evidence when requested (e.g., payment receipts, bank screenshots, transaction IDs).
- 5.2 Norbit may act as a neutral facilitator in disputes, but decisions are made based on available evidence and platform rules.
- 5.3 Norbit's dispute decision is final and binding for the purpose of releasing crypto escrow.
6. Fiat Payments & Bank Risks
6.1 Norbit is not responsible for:
- Bank delays, reversals, chargebacks, or freezes
- Errors made during fiat transfers
- Losses caused by incorrect payment details provided by users
6.2 You acknowledge that fiat transfers are subject to banking laws, AML rules, and local regulations applicable to you.
7. Fees & Pricing
- 7.1 Norbit may charge platform, escrow, or service fees, which will be disclosed prior to trade confirmation.
- 7.2 Prices are set by users and may fluctuate based on market conditions.
8. Regulatory & Legal Acknowledgment
- 8.1 You confirm that participating in P2P digital asset trading is legal in your jurisdiction, or that you assume full responsibility where regulatory clarity is absent.
- 8.2 You understand that Norbit does not provide legal, tax, or financial advice.
9. Limitation of Liability
To the maximum extent permitted by law:
- Norbit shall not be liable for indirect, incidental, or consequential losses
- Norbit does not guarantee successful completion of any P2P trade
- Users bear full responsibility for their trading decisions and actions
10. Acceptance & Binding Effect
By clicking "Accept & Continue", you:
- Agree to be legally bound by these P2P Trade Terms
- Confirm that all information you provide is accurate and truthful
- Acknowledge that violation of these terms may result in account suspension or termination