Last Updated Date: 01/10/2024

Thank you for using our service!
- Volqa

These Terms of Service (“Terms”) are a binding legal agreement between you and Volqa, Inc. ("Volqa", "us", "we", or "our") that govern your right to use the websites, applications, smart contracts, distributed blockchain applications (DApps) and other offerings from Volqa (collectively, the “Volqa Platform”).

The Volqa Platform offers an online venue that enables users ("Customers") to offer, purchase, resell and place bids on luxury Yacht Rentals. Customers who offer the rental of their yacht or offer the rental of the yachts they manage are collectively referred to as "Owners", and Customers who purchase, resell and place bids are "Buyers". You must register an account to access and use many features of the Volqa Platform and must keep your account information accurate. As the provider of the Volqa Platform, Volqa does not own, control, offer or manage any yacht or yacht rental. Volqa is not a party to the rental agreement entered into directly between Owner and Buyer when placing a purchase. Nor is Volqa a yacht broker, travel agency, or insurer. Volqa is not acting as an agent in any capacity for any Customer, except as specified in the Purchase Terms (Section 2). To learn more about Volqa's role see Section 10.

We maintain other terms and policies that supplement these Terms like our Privacy Policy.

If you are an Owner, you are responsible for understanding and complying with all laws, rules, regulations, and contracts with third parties that apply to your Yacht Rentals.

1. Registration & Accounts

You must register an account to access and use many features of the Volqa Platform. Registration is only permitted for legal entities, partnerships, and natural persons who are 18 years or older. You represent and warrant that you are not a person or entity barred from using the Volqa Platform under the laws of the United States, your place of residence, or any other applicable jurisdiction. You must provide accurate, current, and complete information during registration and keep your account information up to date. You may not register more than one account or transfer your account to someone else. You are responsible for maintaining the confidentiality and security of your account credentials and may not disclose your credentials to any third party. You are responsible and liable for activities conducted through your account and must immediately notify Volqa if you suspect that your credentials have been lost, stolen, or your account is otherwise compromised. If and as permitted by applicable law, we may, but have no obligation to (i) ask you to provide identification or other information, (ii) undertake checks designed to help verify your identity or background, (iii) screen you against third-party databases or other sources and request reports from service providers, and (iv) obtain reports from public records of criminal convictions or sex offender registrations or their local equivalents.

2. Purchases

When you make a purchase on our website, you agree to pay all charges and fees listed at checkout associated with the Yacht Rental. You also agree that Volqa via Volqa Platform may charge the Payment Method to collect Damage Claim as described below.

When you complete the purchase, you receive a Web3 Digital Asset (as described in Section 6) representing your purchase, which means you agree to be listed as the current holder of the asset on Volqa Platform. You may choose to Redeem this for the Yacht Rental it represents (as described in Section 3), or you may choose to resell this on Volqa Platform (as described in Section 7), or you may choose to sell it by accepting a Purchase Offer (as described in Section 5).

2.1 Damage Claim

If an Owner contacts Volqa with a report of damages incurred during the period of rental by you, Volqa will perform an investigation and make a determination. Volqa will diligently and fairly attempt to establish the facts of the situation, the responsible party(s) and the dollar amount of damage occurred. Volqa’s determination is based on the sole opinion of Volqa, and Volqa will act in accordance with such a determination, irrespective of what conclusions other parties may have determined.

You, as the Buyer of the rental are responsible for all activities of you and your guests aboard, or around the Yacht during the time of the rental and within a reasonable period before and after the rental. You agree to HOLD HARMLESS Volqa and to indemnify Volqa for any losses related to conduct caused by you and your guests. You further agree to reimburse the Owner for all damages.

3. Redemptions

As stated in Section 2, upon purchasing a rental, you become the holder of a Web3 Digital Asset that is redeemable for the rental. The redemption must happen by a specific Date and Time, as specified by the owner for each Yacht Rental offering. Upon redemption, you will no longer be the holder of the Web3 Digital Asset, and the Web3 Digital Asset will no longer be transferrable or assignable.

Volqa and Owners will attempt to keep the process of redemption as simple, and straight-forward as possible. Although it is your sole responsibility to redeem the Web3 Digital Asset, we, and the Owners will make efforts to contact you in due time and walk you through the process.

In general, at the time of redemption, the Owner may ask you for:

• Personal Information
• Your Guestlist, including payment if there are extra guests
• Your desired departure and arrival schedule
• Your food, music and decorative preferences
• Special Requests
• Other information the Owner may deem necessary

As a Buyer you agree to provide the Owner with reasonably necessary information for the Owner to create a pleasant experience for you aboard their yacht. If you have any concerns about this process or requested information, please contact us at support@volqa.com.

4. Cancellations, Travel Issues, and Refunds

Instead of a Cancellation Policy, we have an alternate method that is equal in spirit, and potentially fairer to both Buyers and Owners. Whereas previously an Owner would specify a Refund Amount and Refund Deadline in written form, today, the Owner places an expiring purchase offer on the listing for the same Refund Amount and expiring on the Refund Deadline.

For example, consider this hypothetical situation where a Buyer purchases a rental for New Years Eve at the cost of $10,000. Previously they could have been eligible to request a refund for 75% of the price 30 days before (or earlier) the event. Under this new system, instead of making such a request, there will be a Purchase Offer on the listing page of the event for $7,500 that expires on December 1^st. The Buyer may then choose to accept that offer before the expiration, or a higher one if someone else decides to place an offer.

As a Buyer making the purchase, you adhere to this method of Cancellation.

Furthermore, you may choose to post a “Resale Listing” (as described in Section 7) with a price of your choosing, to sell it as a means of cancelling. Although Volqa and Owners do not guarantee the success of this method, the act of such a transaction occurring is in our interest. As such, we may choose in our own discretion to promote it, and thereby attempt to stimulate the sale to happen.

4.1 Travel issues

Although we acknowledge that extenuating circumstances outside of Buyers control may occur leading to a need for Cancellation, Volqa does not offer any additional methods by which a Buyer may seek remedy. Having stated that, we prioritize the good experience of our Customers and would encourage you to contact us at support@volqa.com should such a situation should occur. No individual resolution should be interpreted as establishing a precedent for future behavior.

4.2 Owner Cancels

If the Owner is unable to accommodate the Rental sold to a Buyer, please contact support@volqa.com and we will work together to review and if appropriate, remedy the situation.

5. Offers & Bids

Volqa Platform offers the ability for Customers to place, retract, and accept Purchase Offers. These Purchase Offers are bids by Owners or other Customers to purchase the listing for a specific amount and are valid until the 11:59:59PM PT of the specified Expiration Date.

5.1 Placing Offers

Any Customer with an account, may place a Purchase Offer (which may require an Expirable Deposit) for a future Expiration Date and specific amount. This offer may or may not require to be approved by the Owner or Volqa prior to becoming available to others. By placing the offer, you agree to become a Buyer and execute a Purchase (as described in Section 2) when the current holder Accepts the Purchase Offer. You have the option to Retract your Purchase Offer at any time prior to it being Accepted, or Rejected, or prior to the Expiration Date.

Furthermore, as the Customer placing the offer, you agree and understand that that Purchase Offer may be rejected by the Owner or Volqa through the Volqa Platform or Removed at any time by Volqa in its sole discretion.

5.2 Accepting Offers

As a Buyer that is currently holding a Web3 Digital Asset, you may choose to accept a Purchase Offer. Upon doing so, Volqa Platform will facilitate the process of a Purchase (as described in Section 2) with the Customer who placed the offer and you as the seller of that Web3 Digital Asset. By accepting a Purchase Offer, you agree to relinquish your status as holder and accompanying rights of the Web3 Digital Asset, however, you also agree to resume those rights and responsibilities should the Purchase fail to complete and be cancelled for any reason. If such an event occurs as the result of the Customer who made the offer, and if an Expiring Deposit was collected, a portion of that deposit will be transferred to you in accordance with Section 9. Neither Volqa, the Volqa Platform nor the Owner take any responsibility for the Purchase to complete, apart from the steps necessary to facilitate it. Upon the successful completion of the Purchase, Volqa Platform will transfer you the proceeds in accordance with Section 9.

5.3 Expirable Deposit

If an Expirable Deposit is collected during the process of Placing and Approving a Purchase Offer, that Deposit will be held by Volqa until one of the following events occurs: a) the Purchase Offer expires, then within 3-5 Business Days following the Expiration Date the amount will be sent for refund; b) the Purchase Offer is accepted, at which point the amount is used as a down-payment on the Purchase; c) the Purchase Offer is Rejected, at which point if the amount was already collected, it will be sent for refund within 3-5 Business Days; d) the Purchase Offer is Removed, at which point the amount may be sent for refund within 3-5 Business Days except as described further.

There may arise an extenuating situation when the Expirable Deposit is not refunded, if Volqa determines in its sole discretion there is some attempt at committing Fraud (including, but not limited to Credit Card fraud) by the Customer who placed the Purchase Offer, or the current holder of the Web3 Digital Asset in the case of a discovered conspiratorial act. If such an extreme situation does occur, Volqa will act with all reasonable diligence and transparency to create a fair process, review the situation, and make a determination on what (if any) part of the Expirable Deposit will be returned.

Furthermore, if the Expirable Deposit is converted to a downpayment, and the Purchase fails at the fault of the Customer who placed the Purchase Offer, that amount will not be refunded and will be transferred in part or full by Volqa to the Buyer holding the Web3 Digital Asset and/or the Owner.

All refunds of the Expirable Deposit will be sent back to the originating source of payment if possible, or by a method in Volqa’s sole discretion, if not possible. If any fees are incurred by Volqa as part of taking and refunding the Expirable Deposit, those will be deducted from refunds and applications. We will make a reasonable effort to work with the payment institution to minimize any fees.

6. Web3 Digital Assets

Volqa Platform is built with Web3 technologies such as Smart Contracts, Distributed Applications (DApps) and the Blockchain, as an example but not limited to Polygon. These technologies are used to deterministically and publicly process the transactions of our products, Yacht Rentals, as a Web3 Digital Asset. Each Web3 Digital Asset, and the current holder can be determined by anyone observing the Blockchain, including third-party marketplaces. There are several key things that you as a Customer should know.

6.1 Custodial Web3 Addresses

We create an on-chain Blockchain Address that is associated with your Volqa Platform account, and managed by us on your behalf. All on-chain transactions associated with your account, are associated with this Blockchain Address. This is done to simplify the interactions of our Customers with the Volqa Platform. If you want for Volqa to use an alternative Blockchain Address, please contact us at support@volqa.com.

6.2 Complete & Unrestricted Control

Volqa maintains a complete and unrestricted control of all transactions, Web3 Digital Assets and governing rules encoded in the form of Smart Contracts. This is done for the purpose of ensuring a smooth and robust experience, with the ability to correct fraudulent or malicious actions done by third parties, in case they occur. As the Volqa Platform matures and we become confident in its stability, Volqa intends to relinquish parts of such control.

6.3 Limited Public Transactions

Volqa Platform incorporates publicly agreed upon Web3 standards to represent the Web3 Digital Assets; however, they are done with certain limitations in mind. Transfer requests from outside the Volqa Platform are currently rejected for the purpose of ensuring the smooth experience for our Customers and Owners. As Volqa expands and upgrades the Volqa Platform, these restrictions will be lifted in place of a clearly defined set of rules that must be followed for external transactions to be allowed.

6.4 Valuation

Volqa does not assign, recognize, or suggest any valuations for the Web3 Digital Assets that it manages. The only price associated with these Web3 Digital Assets, is the one currently established by the Owner or the current holder wishing to resell. These Web3 Digital Assets are perpetual in the sense of the Blockchain but have a strict Redeem By date that effectively removes any and all associated value they may possess to Owners or Buyers. Upon which, the Volqa Platform, in its correct operation will assign these Web3 Digital Assets to a “Redeemed” Blockchain Account.

6.5 Holder Rewards

Owners, at their own discretion, may choose to reward previous holders and/or redeemers with future perks & benefits. The rules and terms governing such events will be disclosed if and when they occur.

7. Resale Listings

After a Purchase of a Yacht Rental is made on the Volqa Platform, the Buyer becomes the current holder of the Web3 Digital Asset. As a holder, the Buyer has the option to list the Web3 Digital Asset back for sale at a price of their choice. By doing so, the Buyer agrees to a) Volqa doesn’t offer any guarantees or assurances in respect to the Purchase occurring; b) unless the Listing is removed, a Purchase may occur, which removes all rights and privileges associated with the Web3 Digital Asset from the buyer; except if c) the Purchase fails to complete, the Buyer resumes all responsibilities of being a holder of the Web3 Digital Asset; and d) Volqa may in its sole discretion remove the listing or prevent the Buyer form making the listing.

Payments will be made as specified in the Payout Terms.

At Volqa, we will make every effort to encourage such transactions to occur and Purchases to complete. It is in our interest to create a fair marketplace for all parties involved. If you have any questions or concerns, please don’t hesitate to contact us at support@volqa.com.

8. Fees

Volqa may apply several types of fees to transactions happening on the platform. We will provide estimates of what the Customers may expect when using our Platform at key places, such as the Checkout, Listing for Resale, and Placing Offers. If you decide to Resell the Web3 Digital Asset after purchasing it, Volqa will only show the expected fees at the time of each action for that action. Volqa Platform will not provide estimates for fees associated with Resale to the Buyer that is yet to make the Purchase needed to obtain the Web3 Digital Asset they wish to Resell. These Fees may change at any time, and without prior notice based on Volqa’s determination, or external factors.

8.1 Payment Method Fees

Any fees associated with making Payments, Refund or completing Payouts will be the responsibility of and charged to the Customer. Volqa will make every effort to estimate and reference these fees to the Customer when such actions are about to occur.

8.2 Operating Fees

Fees associated with Web3 technologies, or other fees that Volqa Platform incurs as part of its regular operation are paid by Volqa but are surfaced through a unified and simplified Platform Fee charged by Volqa. This is done for the purpose of simplifying the experience for all.

8.3 Platform Fee

The current platform fee is 3.7% per Purchase and Resale; this may change overtime. This fee is paid in two cases a) by the Buyer at the time of the purchase in addition to the listed price, and b) by the Customer who decide to list it back for Resale at the time of a successful sale.

8.4 Secondary Sales Owner Fees

Volqa reserves the right to introduce Owner fees that are paid to the Owner on all or some subsequent resales of the Web3 Digital Asset. In the event of this occurring, everyone will be notified at the time of the policy change. In the present moment they are 0% and $0.

9. Payout Terms

When a Customer on Volqa Platform is assigned an amount to be paid out or refunded, we shall communicate with them to establish the method by which this will occur. Volqa retains the right to refund a portion of the payout to the originating payment method, if applicable. Additionally, Volqa retains the right to determine in its own discretion which Payout Method(s) will be used, for which amounts and at what times.

9.1 Payout Amounts

For payouts that result as part of a successful Resale of a Web3 Digital Asset, or other related activity, Volqa will split the payout into two parts, the Base and Excess amounts. The base amount is equal to the lesser of 1) the payout amount, or 2) the original amount paid by the Customer to purchase the Web3 Digital Asset. If the payout amount is greater than the calculated base amount, the remainder is deemed to be the excess amount (which otherwise would be 0.) For refunds, the entire amount is deemed to be the Base amount.

This extra complexity allows Volqa to create a fairer payout process.

9.2 Valid Payout Methods

Volqa will work with the Customer to determine the Payout Method and collect the necessary information. This information may include, but is not limited to, the Customer’s name, government identification, tax ID, billing address, residential address, and financial information. The financial information, depending on Payout Method, may consist of, but not limited to, name of the financial institution, name of the account, account type, routing number, account number, email address, payout currency, identification number and other account information associated with the Payout Method.

Volqa retains the right to determine in its own discretion which Payout Method(s) will be used, for which amounts and at what times.

9.3 Timing of Payout

Upon establishment of the Payout Request, Volqa will attempt to initiate the payment of the Base amount within 5 business days, back to the originating Payment Method used. If this is not possible, and/or Volqa needs to use an alternate Payout Method, the timing will be based on how soon Volqa can verify the authenticity of the original Payment Method used. This is needed to potentially prevent any fraudulent and/or other inappropriate activity.

If the Excess amount from a Resale exists, Volqa will wait until the successful completion of the Rental before initiating payments for all involved parties. This would ensure that in extenuating circumstances, Volqa has the most ability to remedy the situation, if such a need occurs.

9.4 Payout Fees

All fees associated with making the payment through the Payout Method will be deducted from the payout amount by Volqa, and are the sole responsibility of the recipient.

9.5 Payout Restrictions

Volqa may temporarily place a hold, suspend, or cancel any Payout for purposes of preventing unlawful activity or fraud, risk assessment, security, or completing an investigation; or if we are unable to verify your identity, or to obtain or verify requested information. Furthermore, Volqa may temporarily place a hold on, suspend, or delay initiating or processing any Payout due to you under the Terms because of unforeseen circumstances arising from a Force Majeure Event.

9.6 Limits on Payouts

For compliance or operational reasons, Volqa may limit the amount of a Payout. If you are due an amount above that limit, Volqa may make a series of Payouts (potentially over multiple days) in order to provide your full Payout amount.

9.7 Your Payout Method, Your Responsibility

Volqa is not responsible for any loss suffered by you as a result of incorrect Payout Method information provided by you.

10. Volqa's Role

We offer you the right to use a platform that enables Customers to publish, offer, search for, and book Yacht Rentals. While we work hard to ensure our Customers have great experiences using Volqa, we do not and cannot control the conduct of Buyers and Owners. You acknowledge that Volqa has the right, but does not have any obligation, to monitor the use of the Volqa Platform and verify information provided by our Customers. For example, we may review, disable access to, remove, or edit Content to: (i) operate, secure and improve the Volqa Platform (including for fraud prevention, risk assessment, investigation and customer support purposes); (ii) ensure Customers’ compliance with these Terms; (iii) comply with applicable law or the order or requirement of a court, law enforcement or other administrative agency or governmental body; (iv) address Content that we determine is harmful or objectionable; (v) take actions set out in these Terms; and (vi) maintain and enforce any quality or eligibility criteria, including by removing Yacht Rentals, Resale Listings & Purchase Offers that don’t meet quality and eligibility criteria. Customers agree to cooperate with and assist Volqa in good faith, and to provide Volqa with such information and take such actions as may be reasonably requested by Volqa with respect to any investigation undertaken by Volqa regarding the use or abuse of the Volqa Platform. Volqa is not acting as an agent for any Customers except for where Volqa acts as a collection agent as provided in the Payout Terms.

11. Reviews

Upon purchasing and redeeming each Yacht Rental, Buyers and Owners will have an opportunity to review the rental. Your Review must be accurate and may not contain any discriminatory, offensive, defamatory, or other language that violates our Content Policy or Review Policy. Reviews are not verified by Volqa for accuracy and may be incorrect or misleading.

12. Content

Parts of the Volqa Platform enable you to provide feedback, text, photos, audio, video, information, and other content (collectively, “Content”). By providing Content, in whatever form and through whatever means, you grant Volqa a non-exclusive, worldwide, royalty-free, irrevocable, perpetual, sub-licensable and transferable license to copy, modify, prepare derivative works of, distribute, publish and otherwise exploit, that Content, without limitation. If Content includes personal information, our Privacy Policy describes how we use that personal information. Where Volqa pays for the creation of Content or facilitates its creation, Volqa may own that Content, in which case supplemental terms or disclosures will say that. You are solely responsible for all Content that you provide and warrant that you either own it or are authorized to grant Volqa the rights described in these Terms. You are responsible and liable if any of your Content violates or infringes the intellectual property or privacy rights of any third party. Content must comply with our Content Policy and Nondiscrimination Policy, which prohibit, among other things, discriminatory, obscene, harassing, deceptive, violent, and illegal content. You agree that Volqa may make available services or automated tools to translate Content and that your Content may be translated using such services or tools. Volqa does not guarantee the accuracy or quality of translations and Customers are responsible for confirming the accuracy of such translations.

13. Communications

You will receive administrative communications from us using the email address or other contact information you provide for your Volqa account. Enrollment in additional email subscription programs will not affect the frequency of these administrative emails, though you should expect to receive additional emails specific to the program(s) to which you have subscribed. You may also receive promotional emails from us. No fee is charged for these promotional emails, but third-party data rates could apply. You can control whether you receive promotional emails using the notification preferences in your account settings. Please note that you will not be able to take advantage of certain promotions if you disable certain communication settings or do not have an Volqa Account. In the U.S. if you consent to receive SMS (text messages) from us, we may use that method to communicate with you.

14. Term & Termination

The agreement between you and Volqa reflected by these Terms is effective when you access the Volqa Platform (for example to create an account) and remains in effect until either you or we terminate the agreement in accordance with these Terms.

You may terminate this agreement at any time by sending us an email or by deleting your account. Volqa may terminate this agreement and your account for any reason by giving you 30 days’ notice via email or using any other contact information you have provided for your account. Volqa may also terminate this agreement immediately and without notice and stop providing access to the Volqa Platform if you breach these Terms, you violate applicable laws, or we reasonably believe termination is necessary to protect Volqa, its Customers, or third parties. If your account has been inactive for more than two years, we may terminate your account without prior notice.

15. Indemnification

You agree to defend, indemnify, and hold harmless Volqa and its licensee and licensors, and their employees, contractors, agents, officers, and directors, from and against any and all claims, damages, obligations, losses, liabilities, costs or debt, and expenses (including but not limited to attorney's fees), resulting from or arising out of a) your use and access of the Volqa Platform, by you or any person using your account and password; b) a breach of these Terms, or c) Content posted on the Volqa Platform.

16. Limitations of Liability

In no event shall Volqa, nor its directors, employees, partners, agents, suppliers, or affiliates, be liable for any indirect, incidental, special, consequential or punitive damages, including without limitation, loss of profits, data, use, goodwill, or other intangible losses, resulting from (i) your access to or use of or inability to access or use the Volqa Platform; (ii) any conduct or content of any third party on the Volqa Platform; (iii) any content obtained from the Volqa Platform; and (iv) unauthorized access, use or alteration of your transmissions or content, whether based on warranty, contract, tort (including negligence) or any other legal theory, whether or not we have been informed of the possibility of such damage, and even if a remedy set forth herein is found to have failed of its essential purpose.

17. Force Majeure

Volqa shall not be liable for any delay or failure to perform resulting from causes outside its reasonable control, including, but not limited to, acts of God, natural disasters, war, terrorism, riots, embargoes, acts of civil or military authorities, fire, floods, accidents, pandemics, epidemics or disease, strikes or shortages of transportation facilities, fuel, energy, labor or materials.

18. Disclaimer

Your use of the Volqa Platform is at your sole risk. The Volqa Platform is provided on an "AS IS" and "AS AVAILABLE" basis. The Volqa Platform is provided without warranties of any kind, whether express or implied, including, but not limited to, implied warranties of merchantability, fitness for a particular purpose, non-infringement, or course of performance.

Volqa, its subsidiaries, affiliates, and its licensors do not warrant that a) the Volqa Platform will function uninterrupted, secure, or available at any particular time or location; b) any errors or defects will be corrected; c) the Volqa Platform is free of viruses or other harmful components; or d) the results of using the Volqa Platform will meet your requirements.

18.1 Exclusions

Some jurisdictions do not allow the exclusion of certain warranties or the exclusion or limitation of liability for consequential or incidental damages, so the limitations above may not apply to you.

19. Governing Law

These Terms shall be governed and construed in accordance with the laws of Delaware, United States, without regard to its conflict of law provisions.

Our failure to enforce any right or provision of these Terms will not be considered a waiver of those rights. If any provision of these Terms is held to be invalid or unenforceable by a court, the remaining provisions of these Terms will remain in effect. These Terms constitute the entire agreement between us regarding our Volqa Platform and supersede and replace any prior agreements we might have had between us regarding the Volqa Platform.

20. Modifications

Volqa may modify these Terms at any time. When we make material changes to these Terms, we will post the revised Terms on the Volqa Platform and update the “Last Updated” date at the top of these Terms. We will also provide you with notice of any material changes by email at least 30 days before the date they become effective. If you disagree with the revised Terms, you may terminate this agreement immediately as provided in these Terms. If you do not terminate your agreement before the date the revised Terms become effective, your continued access to or use of the Volqa Platform will constitute acceptance of the revised Terms.

21. Contact Us

If you have any questions about these Terms, please contact Volqa support at support@volqa.com.