Terms and Conditions of Business for the use of letsPool AG platforms

I. General Conditions

1. Scope

These Terms and Conditions apply to all platforms (hereinafter "Platform") of letsPool AG (hereinafter "letsPool"), Franz-Joseph-Strasse 14, 80801 Munich, Germany, represented by the board, Franz Roman and Dipl. Kfm. Clemens von Halem, Registered in Munich, No. 177017 and govern the contractual relationships between letsPool and the companies and individuals (hereinafter "Members") that use it by becoming Members. The Terms and Conditions only apply to companies within the meaning of paragraph 14 of the German Civil code (BGB) (legally registered companies or traders). Consumers within the meaning of paragraph 13 of the German Civil Code cannot become Members.

2. Platform

letsPool operates a Platform on which Members can offer, search for, sell and distribute goods and services (hereinafter "goods"). The goods must not contravene statutory laws and/or violate these Terms and Conditions. letsPool is not responsible for goods offered by its Members. letsPool is not the contracting party for contracts formed exclusively between Members. letsPool accepts no responsibility for goods offered by its Members and/or for the fulfilment of contracts between Members. The fulfilment of such contracts arising from the Platform is the sole responsibility of the Members, who are themselves the Contracting Parties.

3. Membership

3.1. The use of letsPool services is conditional on becoming a Member. To qualify for membership, registration by opening a membership account in agreement with these Terms and Conditions is required. Only concerns in a position to form legally binding contracts may register. During registration, a user name (Login Name) in the form of a valid e-mail address, which does not contravene the rights of third parties and is not contrary to public decency, must be provided.

3.2. The company name must be provided for registration. This company name is the one that will appear on the Platform as the trading name. Corporate entities may only be registered by duly authorised individuals, who must be specifically named complete with full address. By registering, the user undertakes to provide complete and accurate information requested during the registration process and to submit the documents requested by letsPool.

3.3. When registering, the duration of Membership (Monthly or Yearly) must be selected.

3.4. letsPool reserves the right to reject registration applications or revoke access rights if the requested information and verification is insufficient or not duly submitted, or if the conditions relevant to the approval subsequently change. Membership approval and, with it, conclusion of the contract between letsPool and the Member comes into effect with the activation of the Member account.

3.5. During activation of the Member account, a password is issued, which can be subsequently changed by the Member to one of their own choosing. The Member is responsible for keeping the password secret. The Member undertakes to limit the use of the user name and password to themselves or properly authorised persons having an adequate mandate to act on behalf of the Member. All activity on the Platform resulting from the entry of the user name and password is conducted on behalf of, and at the cost of, the Member. The Member is liable for any such activity unless they cannot be held responsible for misuse of the account because there has been no violation of due diligence.

3.6. letsPool reserves the right to exclude Members from the platform where sufficient reason exists. Sufficient reasons are particularly:

• violation of the conditions of Membership (e.g. registration using incorrect or non-verifiable information)
• offering or advertising excluded products (see I. No. 6)
• use of offensive or illegal terms on the platform
• disruption of, or damage to, the platform or its Members
• suspected or apparent misuse of the Platform
• demonstrable failure to observe the Platform undertakings made during registration
• late payment of any fees due under II.1.5. or
• subsequent breach of the conditions of Membership.In certain cases letsPool may temporarily suspend, rather than revoke, Membership until an explanation for acts of potential cancellation have been made.

3.7. Membership will be automatically renewed for

• one month in the case of monthly Membership if not cancelled 2 weeks before the end of the respective month, or
• for a further year in the case of annual Membership if not cancelled 2 months prior to the end of the respective year.Termination must be made in writing by letter or by e-mail to letsPool to be effective.

3.8. Members can terminate their membership at any time without giving any grounds for this. The termination leads to a cancellation of the membership in accordance with Section 3.7 above.

4. Conditions of Trading

4.1. The Member undertakes to truthfully describe all the important characteristics and features, in particular ownership, power of disposal, faults and defects, age and functional working of the goods offered.

4.2. Members may only use those photos, pictures and illustrations for which they possess usage rights appropriate for dissemination over networks.

4.3. Where a date or time is required for a legal transaction, the letsPool system time applies exclusively.

5. Rating System

5.1. letsPool provides a rating system for Members with which they can rate each other following the completion of a contract, enabling other Members to evaluate the quality and reliability of the Member. The reviews are not checked by letsPool for correctness. The ratings are therefore not a guarantee on the part of letsPool about the reliability of a Member.

5.2. Ratings submitted to the rating system must be factually correct. Submission of defamatory ratings is forbidden, as are those that in any way refer to reputation, integrity or morals. letsPool reserves the right to delete ratings that do not meet these requirements.

6. Prohibited goods

6.1. The offer of goods, whose supply, sale or acquisition contravene legal and / or tax regulations or public decency is prohibited.

6.2. The purchase of prohibited articles is also expressly prohibited.

6.3. letsPool cannot verify the compliance of individual articles offered with statutory or other requirements and accepts no liability in this respect.

7. Property rights

7.1. All rights (including property rights and industrial property rights such as trademarks and other rights) to the portals, the databases as well as their contents and data together with other information arising from these are the exclusive property of letsPool. The rights to the data and information inserted by members are not affected by the above provision.

7.2. Members are granted the rights of use to the above portals only to the extent that in the course of their use of the portals they can view and store temporarily the data and information that is made available there on their own PC, and make printouts exclusively for their personal use. Any other distribution and/or copying and/or publication and/or other use in part or in whole is strictly prohibited in any form and in any medium, unless it is required for the use of the services which are offered.

7.3. Any information and data acquired on the platforms may only be used in connection with the use of the services which are offered there.

II. Legal relationship between the Member and letsPool

1. Contractual agreement and content

1.1. The contract between letsPool and the Member is solely for the use of the platform.

1.2. The contract between letsPool and the Member comes into effect through the acceptance of the application for Membership. The sending of the password serves as the letter of acceptance.

1.3. A Membership fee is payable periodically for Membership, dependant on the type and scope of the Membership applied for.

1.4. For every offer placed on the Platform, letsPool receives a listing fee from the seller and a purchase fee from the buying Member. The amount of each fee is dependant on the current letsPool scale of charges. The purchase fee is also payable when the contract is concluded in the post-bidding phase

1.5. The Member authorizes letsPool to collect all fees, charges and other costs (hereinafter "Fees") by credit card. Billing and collection will normally be made at the end the month. If the fees cannot be collected or payment is revoked, letsPool is entitled to collect the fees immediately or to block with the credit card company. If the credit card company refuses payment of the demand resulting from the contract for any reasons caused by the Member, the Member is liable to a flat rate compensation of 10 Euro for the bank debit.

1.6. All fees are calculated and payable in Euros regardless of the currency in which transaction between the Members is conducted. The contract between the credit card company and the Member will determine the exchange rate applicable.

1.7. Use of the platform by the Member is only possible after full payment of the required fees.

1.8. In the case of a Member being excluded under I.3.6 of these terms and conditions, no refund of fees paid will be made. In this case, the Member remains liable for the fees until the end of the normal contractual period.

2. Warranty

2.1. letsPool only provides the online Platform. Contracts relating to goods offered on the Platform result exclusively between Members without the involvement of letsPool.

2.2. Compliance with the statutory and contractual requirements in the formation and execution of the contract is the sole responsibility of the Members. letsPool assumes no responsibility and / or guarantee for the description, prices, availability, characteristics or legality of goods offered or for the conduct of Members.

2.3. In the event that letsPool makes a declaration of intent as representative, letsPool accepts neither liability for the content of the legal transaction or as representative without mandate.

2.4. With the current state of technology, data communication via the Internet cannot be guaranteed to be error-free and / or available at all times.letsPool accepts no responsibility for the availability of the Platform or its failure-free operation. In particular, letsPool is not responsible for transmission, processing and / or memory problems caused by technical conditions outside letsPoolÕs influence.

2.5. If a contract between Members results from a technical failure of the Platform that can clearly be attributed to such a technical failure, letsPool is entitled, at the request of one of the contracting parties, to declare the transaction invalid. In such cases letsPool is not entitled to any fees.

3. Liability

Any liability by letsPool to Members for breach of contractual or non-contractual obligations, in particular impossibility, delay, default in performance of contract, default on contract closure, and forbidden trading including those of its officers and agents, is excluded except in the following cases:

• misconduct or gross negligence or
• liability under the Product Liability Act,
• loss of life or injury to body or health,
• acceptance of guarantee for quality of goods or
• infringement of contractual obligations, the fulfilment of which form of the basis of the contract and on which the contract partner is reasonably entitled to rely. (cardinal obligation). Liability for breach of duty caused by gross negligence or negligent breach of cardinal obligations is limited to typically foreseeable damage unless resulting from injury to life, body or health. This applies equally to claims by Members for irrelevant costs.

4. Data protection

4.1. Data transmitted to letsPool will be collected, stored and processed in accordance with the statutory provisions relating to the contract closure and fulfilment. Data will not be transmitted to third parties unless otherwise noted and the user has indicated agreement of such.

4.2. During the initial registration, the time and IP address from which the login is made are also recorded, which can be provided to the Member for pursuing prosecution, for example in the case of misuse (registration of third parties with your data).

4.3. letsPool is entitled and obligated to pass required information (content data) to the contracting Members as well as intermediary service providers for the processing of contracts completed on the platform.

4.4. The Member authorizes letsPool to make the information necessary for promoting offers and announcements on the Platform available publicly, in particular user identification in accordance with data protection regulations and other relevant statutory provisions. Furthermore, letsPool is entitled, within the framework of the rating system, to publicise ratings provided by Members by naming the relevant transaction.

4.5. At the request of the Member, registration information (inventory data) will be deleted from use by letsPool no later than 80 days after termination of membership, provided the information is not required for the pursuit of outstanding claims. Time periods for storage of data necessary to comply with legal requirements are excluded.

4.6. Viewing and modification of the Members own registration or basic information is possible at any time. The Member is responsible for disclosing changes in the registration information without delay and for changing the information on the Platform.

4.7. At the request of investigation and / or law-enforcement agencies as well as authorized and prima facie interested third parties, letsPool is entitled, in certain cases, to provide extracts from the user data. A prima facie interest is only present when the prosecution of a major crime or the initiation of civil legal action based on prima facie evidence and a substantial claim is warranted. The Member expressly agrees to this security measure.

4.8. Facebook social plugins are used on www.goldsea24.com / www.watchsea24.com in order to make our portfolio of articles more personal. Among other features the "LIKE" buttton is used. This is a service provided by the American corporation Facebook Inc. (1601 S. California Ave, Palo Alto, CA 94304, USA). If you visit a page of letsPool AG which contains such a plugin, your browser automatically creates a link to Facebook and the content is loaded by Facebook. This means that your visit to the pages of www.goldsea24.com / www.watchsea24.com could possibly be tracked by Facebook if you have an account with Facebook, or have previously visited a site with Facebook social plugins. In addition, Facebook receives information from you directly if you use such a social plugin (e.g. by clicking on the "LIKE" button). This is necessary if you wish to share information with your friends. However, letsPool AG has no influence on the content of the plugins and the information which is transmitted to Facebook. In its data protection conditions Facebook provides detailed information on the further processing of your data, and on the extent and purpose of the use of such data. Here you will also find further information about your rights and possibilities for making the necessary provisions to protect your private sphere on Facebook. You can make sure that Facebook doesn't collect any information about you during your visit to www.goldsea24.com / www.watchsea24.com by logging out in advance from Facebook and deleting any cookie which has possibly been generated. In addition, you have the possibility to reject the display of Facebook social plugins here.

III. Legal status of Members

1. Contracts concluded between Members.

1.1. Contracts for products offered on the letsPool Platform are formed exclusively between the Members. letsPool is not a party to contracts concluded by Members.

1.2. Opening of a bid on the letsPool Platform constitutes a legally binding offer to conclude a contract during the tender period.

1.3. Compliance with the statutory, and in particular, tax requirements at the conclusion of the contract is the sole responsibility of the Members.

1.4. The Member authorizes letsPool as proxy to make and / or accept all entries for and against him related to the business processes initiated by him on the platform. letsPool is neither entitled nor obliged to make entries over and above these.

2. Indemnity

The Member indemnifies letsPool against all claims made by Members or other third parties for infringement of their rights through offers and content placed on the Platform by the Member, or through any other use of the platform. The Member is responsible for all costs for the legal defence of letsPool including all court and solicitorÕs costs. This is not applicable where letsPool is liable in accordance with Paragraph II.3.

IV. Special terms for the "sea" pages

All members have the right to offer their goods for sale on the "sea" pages of letsPool, too. These platforms are exclusively for establishing contacts between interested parties and members. letsPool acts as neither an intermediary nor an agency and is not involved in any legal relationship between the interested party and the member. On these pages letsPool only provides information supplied by members. Members themselves have exclusive responsibility for the correctness and legal status of this information and letsPool is therefore unable to accept any liability in this respect.

All legal relationships arise between the interested party and the dealer on the basis of the contact which has been established. Identity checks on interested parties are not made by letsPool. letsPool therefore accepts no liability for the legal relationships between the parties on "sea" pages.

V. Miscellaneous

1. All declarations between letsPool and a Member must be made in writing or text form. The e-mail and the postal addresses of letsPool can be found in the Legal Notice.

2. All contractual relationships between letsPool and the Member are subject to these Terms and Conditions and the substantive law of the Federal Republic of Germany with exclusion of the UN Convention on Contracts for the International Sale of Goods.

3. The exclusive jurisdiction for disputes between the Member and letsPool is Munich.

4. letsPool reserves the right to change these Terms and Conditions without giving reason. The amended terms will be sent via e-mail to the e-mail address held in the Member database no later than 14 days prior to them coming into effect. If the Member does not object to the validity of the new Terms and Conditions within 14 days of receipt of the e-mail the amended Terms and Conditions will be considered to be accepted. letsPool will make main subject to the Terms and Conditions in force at the time the offer was initiated. In the event of an objection to the changes, the contractual relationship will be deemed to be terminated as of the datspecial reference to the deadline for objection and its effects in the notification. Offers already in progress at the time of the new Terms and Conditions coming into force ree of the implementation of the new Terms and Conditions or at the close of any offers active at that time.

5. The invalidity of any contractual clause between letsPool and the Member or of these Terms shall not affect the validity of the remaining contract. An invalid clause shall be replaced by one that most closely represents the intended meaning. This does not apply if adherence to the contract presents unreasonable hardship for one party.

VI. Disclaimer

1. Liability for Content

While we have taken great care in the creation of content for this website, we take no responsibility for its accuracy, completeness or being up to date.

In accordance with Paragraph 7, Part 1 of the German Telemedia Act (TMG), we are legally responsible, as the service provider, for our own content on these pages. In accordance with paragraphs 8-10 of the TMG, we are not obliged to monitor data transmitted or stored by third parties, or investigate circumstances that indicate illegal action. Legal obligations to remove or block the use of such information remain unaffected. Any liability arising will, however, only be applicable from the date that such an infringement is notified. Upon notification of such infringement, the relevant content will be removed as soon as possible.

2. Liability for Links

Our site contains links to external websites over which we have no control. We can therefore take no responsibility for such third party content, which remains the responsibility of the provider or operator of those sites. At the time of linking, the linked pages were checked for potential legal infringements. Illegal content was not identifiable at the time of linking. Permanent monitoring of the content of linked sites cannot, however, be reasonably undertaken without concrete evidence of a violation of the law. We will remove such links as soon as possible upon notification of such violation. If you believe that sites linked to by us contain illegal content, please let us know and we will review the site without delay.