Terms of service

1. Acceptance of terms

These Terms of Service ("Terms") govern access to and use of the Lotwise platform, including the website, account dashboards, and any related services (together, the "Platform"), operated by Lotwise ("Lotwise", "we", "us", or "our"). By creating an account or otherwise using the Platform, you agree to be bound by these Terms.

2. Eligibility and accounts

The Platform is intended for use by businesses engaged in bulk trade of raw materials and related goods. You must provide accurate, current, and complete information during registration and verification, and you are responsible for all activity under your account.

3. Verification

Access to listing, sourcing, and connection features requires successful completion of our verification process, including review of business registration, licensing, trade history, and references. Verification decisions are made at our sole discretion; a disapproved application must be resubmitted from scratch. Verification confirms documentation was submitted — it is not a guarantee or endorsement of any party's reliability or any goods' quality.

4. The role of the platform

Lotwise is not a party to any transaction, negotiation, contract, or agreement entered into between users. We verify accounts and enable connections; we do not broker, guarantee, or take commission on any trade. Once connected, all negotiation, contracting, payment, and shipment is conducted directly between users, at their own risk.

5. Subscriptions, billing, and refunds

Subscriptions are only offered after your account passes verification. Once you choose a plan, your subscription is billed in advance in USD on a recurring monthly basis until cancelled.

All fees are non-refundable. Because your subscription only begins after verification is complete, there is no unverified or trial period to refund. You may cancel your subscription at any time from your account settings — cancellation stops future billing but does not refund any amount already charged for the current billing period, and you'll retain access until the end of that period. We may change pricing on a prospective basis with notice to existing subscribers.

6. Tier standing

Accounts earn a tier grade based on self-reported and platform-observed activity, including reported closed deals. Tier standing affects visibility but is not a certification of any user's reliability or creditworthiness.

7. Acceptable use

• No false or misleading verification or listing information
• No listing of goods you lack the right to sell, or misrepresentation of spec/origin
• No facilitating transactions illegal in any relevant jurisdiction
• No circumventing the verification process
• No scraping or systematic data extraction

8. Listings and content

You are solely responsible for the accuracy of content you submit. Lotwise does not inspect or certify physical goods described in listings.

9. Disclaimers

THE PLATFORM IS PROVIDED "AS IS," WITHOUT WARRANTIES OF ANY KIND. LOTWISE DOES NOT WARRANT THAT VERIFICATION WILL DETECT ALL FRAUDULENT INFORMATION OR THAT ANY LISTED GOODS, COUNTERPARTY, OR TRANSACTION WILL MEET YOUR EXPECTATIONS.

10. Limitation of liability

TO THE MAXIMUM EXTENT PERMITTED BY LAW, LOTWISE WILL NOT BE LIABLE FOR INDIRECT, INCIDENTAL, OR CONSEQUENTIAL DAMAGES ARISING FROM YOUR USE OF THE PLATFORM OR ANY TRANSACTION WITH ANOTHER USER. TOTAL LIABILITY WILL NOT EXCEED FEES PAID IN THE PRECEDING TWELVE MONTHS.

11. Indemnification

You agree to indemnify Lotwise against claims arising from your use of the Platform, your listings, or any dispute with another user.

12. Termination

We may suspend or terminate accounts for violation of these Terms. You may cancel anytime; cancellation does not entitle you to a refund.

13. Governing law

These Terms are governed by the laws of the jurisdiction in which Lotwise is incorporated.

14. Changes to these terms

We may update these Terms; material changes will be notified to active subscribers in advance.

15. Contact

Questions: legal@lotwise.com