Terms and conditions
Last modified: November 15, 2024
1. DEFINITIONS AND INTERPRETATION
1.1 Definitions
The following terms have the meanings set forth below:
“Coverage” means the protection provided under this agreement for specified risks and events as detailed in the coverage documentation.
“Cryptocurrency” means digital assets utilizing cryptographic protocols for secure transactions, including but not limited to Bitcoin, Ethereum, and ERC-20 tokens.
“Loss Event” means any incident resulting in unauthorized access, theft, or permanent loss of covered cryptocurrency assets.
“Member” means any individual or entity that has purchased coverage through the iBeacon platform.
“Platform” means the iBeacon website and associated digital services accessible at ibeacon.org and related domains.
Updates: You are entitled to receive updates for purchased themes for one year from the date of purchase. After that period, you may renew your license for continued access to updates.
2. COVERAGE TERMS
2.1 Coverage Scope
iBeacon provides protection against specified risks including but not limited to:
- Unauthorized access to cryptocurrency wallets or accounts
- Social engineering attacks leading to asset theft
- Address poisoning resulting in misdirected transactions
- Account takeover by malicious third parties
- Ransomware attacks affecting access credentials
2.2 Coverage Limits
Coverage limits vary based on membership tier and specific risk assessment. Maximum coverage per incident and annual aggregate limits are specified in individual coverage certificates.
2.3 Exclusions
Coverage does not extend to:
- Losses resulting from market volatility or price fluctuations
- Voluntary transfers or intentional asset disposal
- Losses due to war, terrorism, or government action
- Fraudulent activity by the member or authorized personnel
Assets held in non-compliant or sanctioned jurisdictions
3. CLAIMS PROCESS
3.1 Claim Notification
Members must notify iBeacon of potential claims within 72 hours of discovering a loss event. Notification must include preliminary incident details and suspected cause of loss.
3.2 Documentation Requirements
Claims must be supported by:
- Blockchain transaction records
- Timeline of events leading to loss
- Evidence of security measures in place
- Law enforcement reports (where applicable)
- Asset ownership verification
3.3 Community Assessment
Claims are subject to community review and voting as outlined in our democratic governance process. Final claim decisions rest with the community vote, subject to coverage terms.
4. MEMBER OBLIGATIONS
4.1 Security Standards
Members must maintain reasonable security practices including:
- Use of secure wallet solutions
- Implementation of multi-factor authentication
- Regular security updates and patches
- Adherence to best practice guidelines
4.2 Cooperation
Members must cooperate fully with claim investigations, provide requested documentation, and assist in recovery efforts when possible.
4.3 Reporting
Suspicious activities, attempted attacks, or security breaches must be reported promptly even if no loss occurs.
5. PLATFORM SERVICES
5.1 Web-Based Access
All iBeacon services are currently provided through web-based interfaces. No mobile application is currently available, though future development may include mobile access options.
5.2 Service Availability
iBeacon strives to maintain platform availability but does not guarantee uninterrupted service. Scheduled maintenance will be communicated in advance when possible.
5.3 Updates and Modifications
Platform features, coverage terms, and service offerings may be updated periodically. Members will be notified of material changes affecting their coverage.
6. PAYMENT AND FEES
6.1 Coverage Premiums
Coverage premiums are determined based on risk assessment, coverage limits, and market conditions. Payment schedules and methods are specified in individual coverage agreements.
6.2 Claims Payments
Approved claims are paid according to the terms specified in coverage documentation, subject to available capacity and community approval.
7. LIMITATION OF LIABILITY
7.1 Platform Liability
iBeacon’s liability is limited to the coverage amounts specified in individual agreements. No consequential, indirect, or punitive damages are covered.
7.2 Service Interruptions
iBeacon is not liable for losses resulting from platform
8. GOVERNING LAW
8.1 Jurisdiction
These terms are governed by the laws of the jurisdiction where the member’s coverage is issued, subject to local regulatory requirements.
8.2 Dispute Resolution
Disputes not resolved through community governance processes are subject to arbitration under international arbitration rules.
9. AMENDMENTS
9.1 Term Updates
These terms may be updated periodically to reflect regulatory changes, platform improvements, or coverage modifications. Members will receive notice of material changes.
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