General Terms and Conditions for Business Partners

 

Preamble / Code of Ethics

 

On behalf of our company, we warmly welcome you as a new contract partner (hereinafter the “business partner”) and wish you the best possible success for your activity as an independent business partner of Tycoon69 International F.Z.E, SM-Office-E1-2201H. Ajman Free Zone, Ajman, UAE, represented by Mr. Stefan Hostettler, its Chairman of the Board of Directors/Managing Director (CEO), email contact: info@tycoon69int.com, at the same business address, and, above all, a lot of pleasure with the distribution of our services. When distributing our services and contacting other people, our top priorities are always consumer-friendliness and security, seriousness, fair cooperation with each other as well as throughout the social selling community, as well as compliance with the laws and morality.

 

Therefore, we ask you to read the below Code of Ethics as well as our General Terms and Conditions for Business Partners very thoroughly as part of the contract between us and to make those requirements your daily guideline for the performance of your activities.

 

 

Ethical Conduct when Dealing with Consumers

 

 

 

 

 

 

 

 

 

Ethical Conduct when Dealing with Other Business Partners

 

 

 

 

 

 

Ethical Conduct when Dealing with Other Companies

 

 

 

With this code of ethics of our company prefixed, we would now like to familiarise you with the General Terms and Conditions for Business Partners of TYCOON69.

 

Section 1 Scope

 

(1) The following General Terms and Conditions for Business Partners are part of every distribution agreement between Tycoon69 International F.Z.E,SM-Office-E2201H,Ajman Free Zone,Ajman, UAE, represented by Mr. Stefan Hostettler, its Chairman of the Board of Directors/Managing Director (CEO), email contact: info@tycoon69int.com (hereinafter “TYCOON69”) and the independent and self-employed contract partner (hereinafter the “business partner”).

 

(2) Special rules for ITALY

 

Under the contractual relationship and these General Terms and Conditions for Business Partners, the business partner shall be qualified as “Incaricato alle Vendite a Domicilio” (“Incaricato”), the status of which is governed by the Italian legal regulation No. 114/1998 [Decreto Legislativo n. 114/1998] and Act No. 173/2005 [Legge N. 173/2005].

 

It is also important to know that business partners (Incaricati) are not allowed to resell TYCOON69 goods. As a result, the resale clauses of these General Terms and Conditions for Business Partners relating to resale are not applicable to business partners (Incaricati) and other clauses used in these Terms and Conditions relating to the marketing or the distribution of TYCOON69’s goods, must be reduced to the mere “advertising and promotion of the goods” for business partners (Incaricati).

 

(3) TYCOON69 delivers its services exclusively on the basis of these General Terms and Conditions for Business Partners.

 

Section 2 Subject of Agreement, Starter Pack and Additional Services

 

(1) TYCOON69 is an innovative Company (and at the same time an affiliate platform) that distributes high-quality goods in the field of gold Distribution, FinTech services as well as training and personal development services. (Hereinafter, these services are referred to simplified as “goods”.)

 

(2) The business partner, without any obligation to do so, has the opportunity to mediate the goods for TYCOON69 according to his own choice, with which the brokering of the goods forms the basis of the business of a business partner. The business partner receives a corresponding commission for his work as an intermediary. For this activity, it is not mandatory for the business partner to incur any financial expenses other than the purchase of a starter pack, such as for ordering a minimum volume of goods from TYCOON69 or for the business partner to recruit other business partners. All that is required is the registration. In addition, without any obligation to do so, there is a further opportunity to recruit other business partners for the distribution of the goods of TYCOON69 and to receive a commission on the distribution volume of the recruited business partners. It is expressly pointed out that the business partner does not receive any commission for the mere recruiting of a new business partner. The commission, as well as the manner of how the payment of the commission is made or other fulfilment is performed, depends on the compensation plan effective at that time.

 

(3) To commence and carry out its activities, TYCOON69 provides the business partner with various starter packs, which include online access to a back-office (the back-office allows the business partner to keep an up-to-date and comprehensive overview of its sales, commissions and customer and downline developments), a replicated website (along with the sending link) as well as training packages for personal development. In addition, the different starter packs include a certain selection of additional services depending on the type of starter pack.

 

Section 3 General Preconditions for the Conclusion of this agreement

 

(1) This agreement can be concluded with corporate entities, partnerships or natural persons, who or whose responsible representatives are over the age of 18 years, are entrepreneurs according to the applicable law and are in the possession of a business licence, as far as this is required by law. The conclusion of this agreement with consumers is not possible. Only one application is accepted per natural person, partnership (e.g. GbR, OHG, KG) and corporation (e.g. AG, GmbH, Ltd.), and a natural person is not allowed to register indirectly several times by additionally acting as a partner of a partnership or a director of a corporation.

 

(2) If a corporate entity or a partnership (GbR, OHG, KG, etc.) submits an application to become a business partner, it has to provide its extract from the commercial register confirming its registration, as well as its VAT identification number – to the extent that it exists in the case of a partnership. All partners must be at least the age of 18. The partners are personally liable to TYCOON69 for the conduct of the corporate entity.

 

(a) Special rules for FRANCE

business partners (according to French law “VDI partners”) in France are not allowed to own a joint business partner account, i.e., the co-ownership of a business partner account by a third party is not permitted. Spouses (including registered civil partnerships) may not register together as one business partner, nor may they individually have a business partner account in the same structural tree.

 

 

 

(b) Special rules for ITALY

(aa) Co-ownership in the distribution partner account of a business partner (Incaricato) is not allowed, which means that no third party may be included in a distribution partner account. Spouses (including registered partnerships) may not register together as one business partner (Incaricato), nor may they individually have a business partner account in the same structural tree.

 

(bb) In Italy, Italian law does not allow a corporation within the meaning of section (2) and a partnership within the meaning of section (2) to register as Incaricato, which means that in Italy only natural persons can register as business partners (Incaricato). The business partner (Incaricato) is obliged to send a copy of a valid identification document to TYCOON69 and must comply with the “Respectability Requirements” specified in Section 71 of Law Decree No. 59/2010 [Decreto Legislativo n. 59/2010], whereby the aforementioned obligation must be fulfilled during the entire duration of the Agreement and also during the time of any extension of the Agreement in accordance with section 16 (1).

 

(3) To the extent that online order forms or contract forms are used, these are considered to be part of the Agreement.

 

(4) The conclusion of this agreement is possible only online by registering via the TYCOON69 website and is subject to the email confirmation by TYCOON69. The business partner is obliged to complete the application to become a business partner completely and properly, and to send it to TYCOON69. In addition, the business partner confirms, by ticking the appropriate box before the completion of the registration process, to have read these General Terms and Conditions for Business Partners as well as the compensation plan and accepts the same as part of the Agreement.

 

(5) Changes in the personal data of the business partner must be implemented without delay in the back-office of TYCOON69 in the predetermined place and in the predetermined manner.

 

(6) TYCOON69 reserves the right to reject applications to become business partner at its own discretion without explanation or to request further information from the business partner before closing the Agreement.

(7) Special rules for ITALY

In addition to the contractual right of revocation (see section 5), the business partner (Incaricato) is entitled to a special right of termination after submitting its application. However, unless this right is executed within 10 working days upon signing (applies to offline applications) or upon sending of the application (applies for online applications), the business partner is deemed to accept the Agreement and the General Terms and Conditions for Business Partners as part of the Agreement.

 

(8) In the event of a breach of the obligations laid down in paragraphs (1) to (2) and (4) second sentence, TYCOON69 is entitled, without prior warning, to terminate the business partner Agreement without notice and, if necessary, to recover paid commissions. In addition, in such a case of termination without notice, TYCOON69 expressly reserves the right to assert further claims for damages.

 

Section 4 Status of Business Partners as Entrepreneurs

 

(1) The business partner acts as an independent and self-employed entrepreneur. The business partner is neither an employee nor a sales representative or a broker of TYCOON69. There are no required sales targets or obligations as to purchases, sales or other activities. With the exception of the contractual obligations, the business partner is not subject to any instructions from TYCOON69 and bears the full entrepreneurial risk of its own business activities, including the obligation to bear all its business costs and the duty to pay its employees properly, if there are any. The business partner must set up and operate its business with the conduct of a proper merchant.

(2) Being an independent entrepreneur, the business partner is responsible for complying with the relevant legal provisions, including tax and social law requirements (e.g., to obtain a VAT identification number and to register its employees with the social security providers, as well as to obtain a trade licence, if necessary). In this regard, the business partner agrees to properly tax all commission income earned from its work for TYCOON69 at the business partner’s place of business. TYCOON69 reserves the right to deduct the respective amounts for taxes and levies from the agreed commission or to claim compensation or reimbursement of expenses which may arise from any violation of the afore-mentioned requirements, unless the business partner is not responsible for such damages or expenses. TYCOON69 does not pay any social security contributions for the business partner. The business partner is not authorised to make statements or take on any commitments on behalf of TYCOON69.

 

(3) Special rules for FRANCE

Distribution partners (as VDI partners under French Law) may not in any event carry out the activities of an employer, nor may they be in a contractual relationship with other business partners from their Downline insofar as this contractual relationship relates to the TYCOON69 business. No remuneration, in any form, may be paid by any business partner to another business partner.

 

(4) Special rules for ITALY

TYCOON69 will – to the extent that it is legally obliged to do so – deduct amounts for social security contributions and income taxes (as well as, where appropriate, further mandatory taxes or levies) from the commissions that are to be paid to the business partner (Incaricati) and transfer them to the competent Italian authority.


 


 

Section 5 Revocation Policy / Special Right of Termination

 

(1) If you register with TYCOON69 as an entrepreneur and not as a consumer you therefore are not entitled to any legal right of revocation. Nevertheless, TYCOON69 voluntarily grants you the subsequent contractual right of revocation within two weeks.

 

Right of Revocation

You can withdraw from this agreement in written form (by letter or email) within 14 days without giving reasons. The revocation period begins with the online transfer of the application to become a business partner. In order to meet the deadline of the revocation period, the timely sending (date of posting or of the email) of the revocation shall suffice.

 

The revocation must be addressed to:

 

Tycoon69 International F.Z.E, SM-Office-E1-2201H,ajman Free Zone, Ajman, UAE

E-mail: info@tycoon69int.com

 

Waiver of the Right of Revocation

Delivery of goods and of the Starter Pack(s) will not take place until after the revocation period has expired. If the business partner requires the delivery of the ordered goods or of the Starter Pack(s) prior to the expiry of the revocation period, the business partner thereby expressly waives his or her right of revocation.

 

Consequences of Revocation:

In the event of an effective revocation of the agreement, any services received by either side are to be returned. In particular, you, as a business partner, must repay the commissions you have received from us, and we shall have the right to offset any of your acquired commission claims with the repayable purchase price payments or usage fees for the goods or other payments in whole or in part. If you are unable to return all or part of the service received, or if you can return it only in a deteriorated condition, then you must compensate us for the value. Obligations to refund payments must be met within 14 days. For you this period starts with the sending of your revocation statement or of the object, and for us upon their receipt.

 

You can re-register with our company as a business partner after exercising your right of revocation. The prerequisite is that your revocation was at least 6 months ago and that you did not carry out any activities for Tycoon69 AG during this time.

 

End of the revocation policy.

 

(2) If, 30 days after registering with TYCOON69, the business partner has not demonstrably provided any sales activities within the meaning of section 2 (2) or otherwise used any services provided by TYCOON69 for payment, TYCOON69 reserves the right to terminate the contractual relationship with the business partner without notice by email and delete it from the distribution system. With regard to the re-registration of the business partner after the termination, reference is made to the provisions of section 16 (4) of the General Terms and Conditions for Business Partners.

 

Section 6 Right to Use / No Licence Fees

 

(1) With the registration, the business partner acquires a right to use the back office provided to it, and the replicated website for the duration of the Agreement.

 

(2) The right of use of the back office and the replicated website provided to the business partner is a simple non-transferable right of use related to the specific afore-mentioned product. The business partner has no right to modify, alter or otherwise redesign these tools, nor does it have the right to grant sublicences.

 

Section 7 Obligations of the Business Partner in the Context of Advertising and General Duties

 

(1) The business partner is obliged to protect its personal passwords and login identifications from access by third parties. The business partner is prohibited from infringing the rights of TYCOON69, its business partners, affiliates or other third parties in its activities, from harassing the above or otherwise violating applicable law. In particular, the business partner is not permitted to provide false or misleading information about TYCOON69’s merchandise/services or their distribution system. In context with its activities for TYCOON69, the business partner will make only such statements about the goods of TYCOON69 as well as about TYCOON69’s distribution system, which in terms of content meet the specifications set in the TYCOON69 advertising and information materials. In addition, it is prohibited to send unsolicited advertising emails, advertising faxes or advertising SMS (spam), as well as make unauthorised cold calls and exercise other unsolicited advertising measures. Furthermore, also any abuse and any illegal actions, such as the use of unauthorised or unfair advertising (e.g. misleading statements) is prohibited.

 

 

(2) Special Advertising Guidelines

 

a) At no point in any advertising material shall the business partner provide information about his income or earning possibilities with TYCOON69. On the contrary, the business partner is always obliged to explicitly inform potential business partners in the context of recruitment talks that income can be achieved only through very intensive and continuous work.

 

 

(b) Sales and marketing activities must not make the impression that commissions are to be understood as “head money” or that commissions can be earned with the mere recruitment of a new business partner, and the business partner must also not take any other actions that give rise to the appearance that the advertised distribution system is an illegal distribution system, namely an illegal progressive Ponzi scheme or a pyramid scheme or otherwise a fraudulent distribution scheme. It must not be given the impression that the purchase of goods is necessary for a business partner to act for TYCOON69. It is also expressly prohibited to designate the TYCOON69 business as an interest-generating investment or other financial transaction, since such a designation is incorrect.

 

(c) Sales and marketing activities must not be directed at minors or those who inexperienced in business matters and must not take advantage of their age, illness or limited ability of understanding. In the case of contacts with so-called socially vulnerable groups or groups speaking a foreign language, the business partners will take into account their financial capacity and their ability to empathise and understand and, in particular, will refrain from anything that might cause the members of such groups to place order which are inadequate to their circumstances.

 

(d) No distribution and marketing activities may be carried out which are inappropriate, illegal or unsafe or which exert undue pressure on selected consumers.

 

(e) The consumer must not be induced to purchase goods by frivolous and/or misleading promises, nor by promises of any specific benefits, if these benefits depend on future, uncertain successes. The business partners will refrain from anything that might cause the consumer to accept the offer made merely in order to do the business partner a personal favour, to end an unpleasant conversation or to benefit from an advantage which is not the subject of the offer, or in order to show recognition for the granting of any such advantage.

 

(f) A business partner must not claim that TYCOON69’s compensation plan or goods are endorsed or approved or supported by a government agency or are deemed to be legally secure by a law firm.

 

(g) TYCOON69 cannot accept any liability, warranty or guarantee that the goods it distributes may be distributed freely and without permission in all countries or require a specific licence from a competent state authority. Against this background, it is forbidden to distribute the goods in countries other than the officially opened ones. Moreover, prior to commencing distribution in a new, not officially opened country, the business partner must inform TYCOON69 by e-mail to info@tycoon69int.com and must ask for written permission, which is at the discretion of TYCOON69.

 

(h) Special Regulations for ITALY AND THE UNITED KINGDOM

If a business partner sends or otherwise uses advertisements for an event, the advertisements must contain the following wording: “A business partner who is a participant in a direct selling system is prohibited from persuading third parties to make a payment by promising them benefits for attracting third parties to enter the direct distribution system. Also, don't be misled by claims that high incomes are easily achievable.”

 

(3) The use, manufacture and spreading of self-made sales documents, websites, product brochures, promotional videos or films or other self-made online or offline media and advertising materials is permitted to the business partner only with the prior approval of TYCOON69. Also, the advertising of TYCOON69’s services via one’s own or foreign websites is permitted only after prior written approval of TYCOON69, and without such specific consent it is only permitted to use the official webpages of TYCOON69 for advertising.

 

(4) Subject to the applicable law and by revocable provision, the goods of TYCOON69 may be presented by the business partner face-to-face, at home parties or home events, at online home parties, webinars or other online presentations. However, the business partner may only use the official TYCOON69 advertising statements. In the event that the business partner uses the services of TYCOON69 in other Internet media such as social networks (e.g., Facebook, Instagram, Google+), online blogs, webinars or chat rooms, the business partner must always use only the official TYCOON69 advertising statements. Furthermore, when advertising in other Internet media, the business partner must expressly point out that this is not an official advertisement or web presence of TYCOON69.

 

(5) The goods may not be offered at auctions, public and private digital flea markets, swap markets, in online department stores, Internet shops, Internet markets such as eBay or Amazon, or comparable retail outlets.

 

(6) The business partner is obliged to identify himself or herself as INDEPENDENT TYCOON69 DISTRIBUTOR in business transactions. Internet homepages, stationery, business cards, car labels as well as advertisements, advertising documents and the like must as a rule have the addition “INDEPENDENT TYCOON69 DISTRIBUTOR”. The business partner is also prohibited from applying for loans and borrowing money, making expenses, taking on commitments, opening bank accounts, entering into other contracts or make declarations of intent on behalf of TYCOON69 or in the interest or on behalf of the company.

 

(a) Special rule for ITALY:

The business partner (Incaricato) must identify himself or herself as “Independent TYCOON69 Incaricato” in all acts in Italy in accordance with paragraph (6).

 

(7) The business partner is responsible to cover all its travel expenses and other expenses, office costs, telephone costs, costs of promotional materials and other expenses.

 

(8) In business transactions, the business partner is not allowed to mention trademarks of competitors or other companies or individuals in a negative, degrading or otherwise illegal way, or to negatively or pejoratively speak of other entities or individuals.

 

(9) All presentation, advertising, training and video/film materials etc. (including photographs) of TYCOON69 are copyrighted. Without the express written consent of TYCOON69 they may not be, in whole or in part, duplicated, disseminated, made publicly available or processed by the business partner beyond the contractually expressly granted right of use.

 

(10) Also, the use (or modification) of the mark TYCOON69, the registered trademarks, product designations, work titles and/or business designations of TYCOON69 beyond the expressly provided promotional materials and other official TYCOON69 documents is only allowed with express written consent. Furthermore, it is prohibited to register one’s own trademarks, titles, Internet domains or other intellectual property rights that contain the mark TYCOON69 or registered trademarks, product names, work titles or business designations of TYCOON69 in an identical or similar form. The above also applies to brands, business names or work titles in which TYCOON69 has an exclusive right of use. The partial or complete relabelling of virtual goods of TYCOON69 is also prohibited.

 

(11) The business partner is not allowed to respond to press inquiries about TYCOON69, its goods, the TYCOON69 compensation plan or other TYCOON69 services. The business partner is obliged to forward all press inquiries immediately to TYCOON69 at info@tycoon69int.com. The business partner may make public statements (e.g. on television, radio, Internet forums) about TYCOON69, the goods from the TYCOON69 range and the TYCOON69 distribution system only after prior written approval by TYCOON69.

 

(12) The business partner will report the location, time and content of promotional events that address the general public to the email address info@tycoon69int.com well in advance of any publication of invitations. TYCOON69 may require changes or even the cancellation of the event if this is necessary in the interests of the company and/or TYCOON69’s sales organization as well as its influencers.

 

(13) Customer inquiries or complaints of any kind about TYCOON69’s goods, services or the compensation system must be immediately passed on to TYCOON69 via the email address info@tycoon69int.com.

 

(14) The business partner is prohibited from selling or otherwise distributing its own marketing and/or sales materials to other TYCOON69 business partners at any time.

 

(15) A business partner may get registered in the Yellow Pages. However, such registration must be approved in writing by TYCOON69 prior to publication and must contain the words “INDEPENDENT TYCOON69 DISTRIBUTOR”.

 

(17) TYCOON69 allows the business partner to purchase the goods for personal use or for family members. However, under no circumstances may the business partner purchase goods beyond his or her own needs or cause family members, other business partners or other third parties to do so, in order to create or pretend commission claims.

 

(a) Special rule for ITALY

business partners (Incaricati) may only purchase TYCOON69 goods for their personal use, so that paragraph (17) is not applicable to Italy.

 

(18) The business partner is obliged to inform TYCOON69 promptly and truthfully of violations of the provisions within the General Terms and Conditions for Business Partners or about other violations of the applicable law by other business partners.

 

(19) Special rules for ITALY:

(a) The business partner (Incaricato) is prohibited from selling TYCOON69 merchandise. All sales of goods, including the invoicing, are initiated directly by TYCOON69. TYCOON69 collects the applicable VAT directly from the end customers on the basis of the purchase price of the goods in accordance with the statutory VAT rates. The resale prohibition referred to in sentence 1 also means that the clauses of section 7 relating to the resale of goods are not applicable here insofar as they relate to the resale of goods and services or otherwise concern the purchase of goods that goes beyond the personal needs.

 

(b) Sale promotion of TYCOON69 goods and services by these business partners may only take place within Italy.

 

(20) Special rules for FRANCE

(a) Distribution partners with a billing address in France must comply with the Code de Conduite of the Fédération de la Vente Directe, which can be viewed on the website www.fvd.fr.

 

(b) business partners who are VDI partners under French law are allowed to present TYCOON69 goods and services only through personal communication face-to-face. This also means that the provisions of section 7 which refer to presentation without personal contact, are not applicable to the distribution of the goods in France, insofar as they do not relate to promotion during a face-to-face meeting.

 

(c) Purchases of business partners with TYCOON69 are limited to €400.00 including VAT per month.

 

(21) Special rules for the UNITED KINGDOM (UK)

(a) business partners with a billing address in the United Kingdom are bound to the Code of Ethics of the Direct Selling Association, which can be viewed on the website www.dsa.org.uk.

 

(b) Under the laws governing direct sales in the UK, business partners with a billing address in the UK are not allowed to make an investment of more than £200 (including VAT) in the first seven days upon closing the Agreement. The business partner must never be tempted to buy more stock than it can safely sell. Nor should there be any attempt to “buy” a higher position within the sales organisation.

 

Section 8 Non-Competition / Recruitment / Sale of Third-Party Services

 

(1) The business partner is allowed to distribute goods and services for other companies, including network marketing companies, even if they are competitors.

 

(2) However, the business partner is prohibited from recruiting other TYCOON69 business partners for the distribution of third-party services.

 

(3) The business partner is also prohibited from infringing other distribution agreements or other contracts that he has entered into with other companies and whose clauses are still in effect, by entering into a distribution agreement.

 

(4) To the extent that the business partner is at the same time active for competitors, other network marketing companies or other companies, the business partner undertakes to perform the respective activity (and, if necessary, build its respective Downline) in such a way that there is no connection or mixing with its activity for other companies. In particular, the business partner may not present goods and/or services other than TYCOON69’s goods and/or services at the same time in the same place or in the immediate vicinity of the same area or on the same website, Facebook or Instagram page, or in other social media platforms or Internet platforms.

 

(5) Special rule for ITALY

TYCOON69 reserves the right to claim damages from the business partner (Incaricato) for any violation of the obligations under paragraphs (2) to (4) pursuant to Article 1382, paragraph 1 of the Italian Civil Code [Codice Civile].

 

Section 9 Secrecy

 

The business partner has to maintain absolute silence about trade secrets of TYCOON69 and about its structure. Trade secrets include, in particular, customer and business partner data, as well as information on Downline activities and the details it contains. This obligation continues even after the termination of the Distribution Agreement.

 

 

Section 10 Protection of Business Partners / Crossline Sponsoring / Bonus Manipulation

 

(1) A business partner, who recruits a new business partner for the first time for the distribution of the goods of TYCOON69, will be assigned the new business partner to its structure (business partner protection), and the date and time of the receipt of the new business partner’s submitted registration application to TYCOON69 is decisive for the allocation. If two existing business partners claim to have sponsored the same new business partner, TYCOON69 will only consider the sponsor named in the first registration.

 

(2) TYCOON69 is entitled to delete all personal data, including the email address of a business partner from its system if advertisement mails, letters or emails are returned with notes such as “not at this address”, “deceased”, “not accepted”, “unknown”, etc. and the business partner does not correct the erroneous data within a reasonable period of time. If TYCOON69 incurs costs as a result of the undeliverable advertising mail and packages, it is entitled to recover the costs from the reporting business partner unless this business partner is not responsible for the defective delivery.

 

(3) Furthermore, crossline sponsoring and the attempt to do so is prohibited within the company. Crossline sponsoring is the recruiting of an individual or company that is already a business partner with TYCOON69 in another distribution line or has had a distribution agreement within the last 6 months. In this respect, it is also forbidden to use the name of the spouse, a relative, trade names, corporations, partnerships, trusts, or other third parties in order to circumvent this provision.

 

(4) Bonus manipulation is prohibited. This includes, in particular, the sponsoring of business partners who do not actually carry out the TYCOON69 business (so-called straw men), as well as open or obfuscated multiple registrations and the illicit independent placement of new customers or business partners in the distribution structure of TYCOON69 as well as the operation of an online presence by several business partners. In this respect, it is also forbidden to use the name of the spouse, a relative, trade names, corporations, partnerships, trusts, or other third parties in order to circumvent this provision. It is also prohibited to induce third parties to sell or purchase goods in order to achieve a better position in the compensation plan or otherwise to bring about a bonus manipulation.


 

(5) The business partner is not entitled to territorial protection.

 

Section 11 Warning, Contractual Penalty, Damages, Indemnification

 

(1) In the event of an initial breach of the business partner’s obligations as specified in section 7, a written warning will be issued by TYCOON69 setting a period of 10 days to remedy the breach of the obligation. The business partner undertakes to reimburse the warning costs, in particular any legal fees that may be incurred for the warning.

 

(2) Express reference is made to section 16 (3), according to which TYCOON69 is entitled to termination without notice, and without prior warning, is the event of a breach of the obligations laid down in sections 8, 9 and 10 (3) and (4), as well as in the case of a particularly serious violation of the provisions in section 7 or other applicable contractual or legal law. Notwithstanding the right of immediate termination without notice according to section 16 (3), TYCOON69 has the right, before a termination without notice is issued, to issue a warning in individual cases upon occurrence of one of the aforementioned breaches of obligations, at its own discretion, within the meaning of paragraph (1) which may have a shorter period for remedy.

 

(3) If, after the end of the remedy period set by the warning, the same or an intrinsically similar infringement occurs again, or if the originally admonished infringement is not rectified after a declaration to cease and desist enforced by penalty, a contractual penalty will be immediately collected the appropriate amount of which is at the discretion of TYCOON69 and is to be reviewed by the competent court. In addition, the enforcement of the contractual penalty will incur further legal fees, which the business partner is obliged to refund, which is expressly pointed out already now.

 

(4) Despite the contractual penalty incurred, the business partner is also liable for any damages caused to TYCOON69 by a breach of duty within the meaning of sections 7 to 9 and section 10 paragraphs 3 and 4, unless the business partner is not responsible for the breach of duty.

 

(5) In the event of a claim by a third party, the business partner shall indemnify TYCOON69, at its first request, from any liability for any breach of any of the obligations laid down in sections 7 to 9 and section 10 paragraphs (3) and (4), or any other violation of the applicable law by the business partner. In particular, the business partner undertakes to cover all costs, in particular the costs for attorneys, courts and damages, as well as fines and penalties incurred by TYCOON69 in this context.

 

Section 12 Price Adjustments

 

TYCOON69 reserves the right, in particular in view of changes in the market situation and/or the distribution structure, to change the prices to be paid by the business partner or the commission shares associated with the services, the compensation plan or usage fees at the beginning of any new accounting period, in particular, to increase the prices or adjust the commissions to the market conditions. The change will be communicated to the business partner within a reasonable period of time prior to the implementation of the change. In the case of increases in prices of more than 5% the business partner shall have the right to object to the change. If it does not object to the amended conditions within one month upon the announcement, the changes will become part of the agreement. Changes known at the time of the conclusion of the distribution agreement are not subject to notification and do not constitute a right to object on the part of the business partner. In the event of an objection, TYCOON69 is entitled to terminate the agreement with effect at the point in time when the amended or supplementary terms and conditions are to enter into force.

 

 

Section 13 Advertising Materials, Contributions, Data Processing

 

All free advertising materials and other contributions of TYCOON69 can be revoked at any time with effect for the future.

 

Section 14 Compensation / Payment Terms / Commission Payment Modalities / Non-Assignment Clause

 

(1) As compensation for his or her work, the business partner obtains a commission entitlement in accordance with the TYCOON69 compensation plan upon attainment of the required qualifications. The compensation is paid in fiat money as well as in the cryptocurrencies listed in the back office, such as Bitcoin and Ethereum (disbursement in cryptocurrencies is possible and is paid into the eWallet belonging to the business partner), whereby the currency of the US dollar is used as the respective reference exchange rate for determining the amount of compensation to be paid in fiat money, which determines the conversion rate applicable at the time of disbursement. The payment of the remuneration covers all costs incurred by the business partner for the maintenance and execution of its business, unless agreed otherwise in a contract.

 

(2) TYCOON69 reserves the right to request the business partner before the first disbursement or before subsequent disbursements of commissions to present proof of its identity and business registration (e.g., by presentation of the trade certificate). Proof of identity may take place at the discretion of TYCOON69 in the form of a copy of the identity card or passport in conjunction with a current electricity, gas, water or other utility bill (not older than one month) which must be presented within 2 weeks of the request. In the case of legal entities or partnerships or registered merchants, proof of identification of the person in charge (e.g., Managing Director or personally liable partner) and – if the entity is registered in the commercial register - a copy of the current extract from the trade register (not older than one month) shall be provided.

 

(3) The business partner will be initially treated as a petty trader with TYCOON69. As soon as the business partner's commission entitlement exceeds a monthly claim of EUR 1,500 for the first time, the business partner with TYCOON69 no longer counts as a petty trader and the corresponding tax requirements will have to be observed. In particular, in the following month, the business partner is obliged to transmit its VAT identification number to TYCOON69 via the specified location in the back-office within 14 days. TYCOON69 reserves the right not to pay out the commission until the VAT identification number has been submitted and to make use of its right of retention until then. Express reference is made to the possibility of blocking the business partner’s account in accordance with section 15 (1) of these General Terms and Conditions for Business Partners.

 

(a) Special rule for ITALY

Article 3 of Law No. 173/2005 [Legge N. 173/2005] states that the activity of a business partner (Incaricato) should be regarded as exercised on an “occasional” basis, provided that the annual income resulting from this activity does not exceed a net amount of EUR 5,000.00. The “occasional” basis of the activity as a business partner (Incaricato) implies that all remuneration paid to the business partner (Incaricato) by TYCOON69 is not subject to VAT. Should the annual income of the business partner (Incaricato) exceed EUR 5,000.00 net, he or she must immediately obtain a VAT identification number from the relevant tax authority. Once a VAT identification number has been allocated to the business partner (Incaricato), its activity is considered “habitual”. The business partner (Incaricato) then undertakes to inform TYCOON69 immediately of any closure of its VAT position/blocking of its VAT number. The same applies to changes in its VAT position/VAT number. In the event of the closure of the aforementioned VAT position/blocking of the VAT number, this will automatically lead to the termination of the activity as a business partner (Incaricato) with TYCOON69, provided that the annual income exceeds the amount of EUR 5,000.00 net, and TYCOON69 will terminate the agreement with the business partner (Incaricato) without notice. Furthermore, if the annual income exceeds EUR 5,000.00 net, the business partner (Incaricato) is obliged to register with the Gestione Separata I.N.P.S. [INPS Special Administration] within 30 (thirty) days and to forward the registration, including all relevant data, to TYCOON69, which also includes the amount of social security contributions to be paid. If the business partner (Incaricato) carries out a door-to-door (home sales) activity for another company, the business partner is obliged to immediately report this activity, including the gross annual income, as soon as he or she has the relevant information.

 

(4) Unless a different account has been expressly accepted by TYCOON69 in writing, commissions and compensations of the business partner can only be paid to accounts in its name or in the name of a partnership or legal entity that is in a contractual relationship with TYCOON69 or, in the case of a disbursement of the compensation in a cryptocurrency, it will only be paid into the eWallets provided by the business partner.

 

(5) TYCOON69 is entitled to assert a right of retention within the scope of the legal requirements. In addition, TYCOON69 is entitled to assert a right of retention with regard to the payment of commissions if not all required documents are available before the first payment, e.g. the VAT identification number, if it has been requested and granted. In the event of TYCOON69 exercising the right of retention of commission payments, it is deemed agreed that the business partner is not entitled to any interest for the period of commission retention.

 

(6) TYCOON69 is entitled to offset all or part of the business partner’s commission claims with claims validly made against the business partner. The business partner is entitled to offset if the counter-claims are undisputed or legally established.

 

(7) Assignments and pledges of claims of the business partner are excluded, insofar as mandatorily applicable law does not state otherwise. Burdening the agreement with third-party rights is not permitted, insofar as mandatorily applicable law does not state otherwise.

 

(8) The business partner will review the allotted settlements as soon as possible and inform TYCOON69 of any objections without delay. All commission claims arise from the current compensation plan, which the business partner can retrieve in its back office, and which can be viewed in the back office from time to time. Incorrect commission amounts, bonuses or other payments must be communicated in writing to TYCOON69 within 60 days of the defective payment. After this date, the commission amounts, bonuses or other payments are deemed to have been approved.

 

(9) The commissions are paid out weekly at the express request of the business partner, according to the TYCOON69 payment methods and payment types. TYCOON69 reserves the right to transfer only commissions exceeding a total amount of EUR 200.00. If the minimum disbursement amount is not reached, the commission claims will be continuously collected in the business account maintained at TYCOON69 for the business partner and will be transferred to the business partner in the following month upon reaching the minimum disbursement amount.

 

Section 15 Blocking of the Business Partner

 

(1) In the event of the fruitless expiration of the deadline within the meaning of section 14 paragraph (2) or paragraph (3), TYCOON69 is entitled to the temporary suspension of the business partner until the time the necessary documents are provided. This applies also in the event of a breach of the requirements laid down in section 14 (3) until the necessary action is performed, as well as in the case of a failure to pay the fees or usage fees that may be payable by the business partner. The period of a suspension does not entitle the business partner to termination without notice and does not establish a claim for repayment with respect to the services already paid for or a claim for damages, unless the business partner is not responsible for the suspension.

 

(2) Commission claims, which cannot be paid out because of the above reasons, are booked within TYCOON69 as a provision and expire at the latest after the statutory limitation periods.

 

(3) In any case, TYCOON69 is entitled to be reimbursed for the costs incurred for this reminder.

 

(4) Regardless of the ground for the blocking set out in paragraph (1), TYCOON69 reserves the right to block the business partner for an important reason. In particular, TYCOON69 reserves the right to block the access of the business partner without notice, if the business partner violates the obligations set out in sections 7 to 9 and section 10 paragraphs 3 and 4, or violates any applicable law, or if there is another important reason. The suspension remains in place until the breach of duty is removed upon a corresponding warning by TYCOON69. In the event that this is a particularly serious breach of duty which leads to a termination of the contractual relationship without notice, the suspension will remain in place permanently.

 

Section 16 Duration and Termination of the Agreement and Consequences of Termination

 

(1) The distribution agreement initially entered for 3 months. Thereafter, the agreement is automatically renewed for a further 12 months each time, unless it is previously terminated by either party in writing with a notice period of one month with effect to the end of the term. Irrespective of this provision, the business partner can terminate this agreement within the 12-month period at any time, by giving a one month’s notice, with the effect to the end of the month.

 

(2) Regardless of the termination grounds according to (1), TYCOON69 reserves the right to terminate for an important reason. An important reason exists, in particular, in the event of a breach of one of the obligations laid down in section 7, provided that the business partner does not comply with its obligation to remedy it within the meaning of section 11 (1) in good time or if, after the remedy of the breach of duty, the same or a similar breach of duty occurs at a later point in time. In the event of a breach of the obligations laid down in sections 8, 9 and 10 (3) and (4), as well as in the event of a particularly serious breach of the obligations or other provision of the applicable contractual or statutory law specified in section 7, TYCOON69 is entitled to terminate without notice and without prior warning. A reason for termination without notice also exists if the business partner does not comply with the provisions of section 14 (2) and (3) and also if, after a suspension in accordance with section 15 (1) and a final deadline set for meeting the requirements, this period expires fruitlessly. Furthermore, there is a reason for termination without notice for either party if insolvency proceedings have been initiated against the other party, or if the initiation has been rejected due to lack of mass, or the other party is otherwise insolvent or has issued an affidavit about insolvency within the framework of the foreclosure. The right to termination without notice exists without prejudice to further claims.


 

(a) Special rule for ITALY

TYCOON69 also has a right to termination without notice with regard to the business partner (Incaricato) if the business partner (Incaricato) no longer meets the “honesty” requirement set forth in the statutory regulation No. 59/2010 [Decreto Legislativo n n. 59/2010] or in the event of a closure the aforementioned VAT positioning/blocking of the VAT number in accordance with section 14 (3) (a).

 

(3) After a termination with notice of his old position, a business partner can re-register with TYCOON69 also with another sponsor. The condition is that at least 6 months have expired since the termination with notice and the confirmation of the termination by TYCOON69 for the old position of the business partner, and that the terminating business partner did not carry out any activities for TYCOON69 during this time.

 

(4) After the termination of the agreement, the business partner has no right to receive commissions, nor, in particular, a sales representative compensation claim or other compensation claim, since the business partner is not a commercial agent or a sales representative or does not hold any similar position entitling to a claim for compensation or damages.


 

(5) If, at the same time, a business partner uses other services of TYCOON69 independent of the distribution agreement, such as for paid goods with a permanent debt relationship character, these services shall not be affected by the termination of the distribution agreement, unless either of the parties expressly requests to terminate such services together with the termination of the agreement and such termination is admissible. If, after the termination of the agreement, the business partner continues to acquire goods and services from TYCOON69, he or she will be treated as a customer of TYCOON69.

(6) Terminations with notice must be in writing and can be posted by letter or by email. Terminations to TYCOON69 must be sent to the address or email address referred to in section 1 (1). Terminations with notice by TYCOON69 to the business partner shall be delivered to the business partner’s email address as deposited in the back office. Terminations without notice must be made in writing and sent to the address referred to in section 1 (1).


 

Section 17 Disclaimer

(1) TYCOON69 cannot be held responsible for any false information in your application. It follows from this that TYCOON69 cannot accept any liability for the accuracy of this information and that your content secured by TYCOON69 for TYCOON69 is third-party information within the meaning of the applicable Telemedia Act.

 

(2) TYCOON69 is also not liable for the achievement of the desired success that the business partner wishes to achieve by using TYCOON69’s goods and Internet platform.

 

(3) To the extent that TYCOON69 provides free software on its website, the use of the software is at your own risk. TYCOON69 is not liable for any damage caused by the installation and/or the use of software from the download area, unless mandatory applicable law requires otherwise. Despite ongoing virus scanning, any liability for damages and impairment caused by computer viruses is excluded under the legal regulations. TYCOON69 is also not liable for any disruption to the quality of access to the service due to force majeure or due to events beyond TYCOON69’s control. In addition, TYCOON69 is not liable for the unauthorized acquisition of your information by third parties (e.g. through unauthorized access to the database by “hackers”), unless mandatory applicable law requires otherwise.

 

(4) TYCOON69 shall only be liable for damages other than injury to life, body and health insofar as they are due to intentional or grossly negligent acts, or culpable breach of an essential contractual obligation (e.g. payment of commission) by TYCOON69, their employees or vicarious agents. This also applies to damages resulting from breaches of obligations in contract negotiations and from the conduct of illicit acts. In addition, liability for damages is excluded.

 

(5) The liability is, except in the case of injury to life, body and health or intentional or grossly negligent conduct of TYCOON69, their employees or vicarious agents, limited to the typical foreseeable damage at the conclusion of the agreement and, moreover, to the amount equal to the average damage amount typical of such contract. This also applies to indirect damages, in particular to lost profits.

 

(6) TYCOON69 is not liable for damages of any kind caused by data loss on the servers, except in the case of a gross negligence or intentional culpability of TYCOON69, their employees or vicarious agents. Stored contents of the business partners are for TYCOON69 third-party information within the meaning of the applicable Telemedia Act. Links are available on TYCOON69’s website. In the first link, the content is checked for illegal content under their respective link. TYCOON69 is not responsible for third-party content accessible via links. If TYCOON69 determines or is advised that a linked offer has unlawful content, this link will be deleted.

 

(7) The provisions of the Product Liability Act remain unaffected to the extent that the law is applicable at all.

 

Section 18 Transfer of the Business / Sponsored Structure on Third Parties /Death of a Business Partner

 

(1) TYCOON69 may transfer all or part of its contractual position or individual assets or business lines to a successor or another third-party company at any time, which will continue to pursue the business transactions that are the subject of this agreement in the same way and assume the existing rights and obligations to their full extent and will enter into the contractual relationship with the business partner.

 

(2) The business partner is entitled to a transfer of its distribution structure after prior written approval by TYCOON69 and submission of the purchase and/or transfer agreement with the third party, as well as the submission of the third party’s application to become a business partner of TYCOON69, unless TYCOON69 has exercised the right of first refusal to which it is entitled. The transfer of the distribution structure is only admissible to persons who are not business partners of TYCOON69 at the time of the transfer. Business partners of TYCOON69, on the other hand, are not permitted to obtain a transfer or to purchase a distribution structure. Further, TYCOON69 may refuse consent only for good reason, provided that it does not exercise its right of first refusal. The business partner is obliged to notify TYCOON69 in writing of the intended transfer of its distribution structure. TYCOON69 has one month’s time to exercise its right of first refusal after receiving the written announcement. If this does not happen, the transfer is permissible unless there are important reasons to the contrary. A sale is only possible while the agreement has not been terminated. In the event of a termination without notice or breach of these General Terms and Conditions for Business Partners and of delivery conditions, the business partner forfeits the right to sell its own sales organisation, as well as in the event that the selling business partner still owes any moneys to TYCOON69.

 

(3) If a legal entity or partnership is registered as a business partner, a transfer of the distribution structure is only permitted in compliance with the other conditions of this agreement.

 

(4) If a new legal entity or partnership registered as a business partner wishes to accept a new shareholder or partner, this is possible if the previous shareholder(s) or partner(s) who have applied for the contractual distribution partnership with TYCOON69 remain shareholder(s) or partner(s). If a shareholder or partner wants to exit a legal entity or a partnership registered as a business partner or wishes to transfer his shares to third parties, this act may be subject to a corresponding written request under presentation of the relevant notarial documents and it may be admissible in accordance with the requirements of this agreement and in compliance with the requirements set forth in paragraph (2). TYCOON69 charges an administrative fee of EUR 25.00 for the processing of the afore-mentioned application. If this requirement is not met, TYCOON69 reserves the right to terminate the agreement with the legal entity or partnership registered as a business partner.