Terms of Service
Last Updated: January 2025
1. Agreement to Terms
These Terms of Service ("Terms") govern your access to and use of BlockCar.io ("Platform", "Service", "we", "us", or "our"), a tokenization platform for collectible automotive assets. By accessing or using our Platform, you agree to be bound by these Terms and all applicable laws and regulations.
If you do not agree with any part of these Terms, you must not use our Platform.
2. Eligibility and User Verification
To use BlockCar's services, you must:
Be at least 18 years of age (or the age of majority in your jurisdiction)
Have the legal capacity to enter into binding contracts
Not be prohibited from using our services under applicable laws
Complete Know Your Customer (KYC) and Anti-Money Laundering (AML) verification processes
Qualify as either a "Qualified Investor/Collector" (for SOT, FND tokens) or "Qualified Borrower" (for COL tokens) based on our verification criteria
3. Token Types and Ownership
3.1 Single Ownership Token (SOT)
SOTs represent complete ownership of a single tokenized automotive asset. SOT holders have full ownership rights, subject to custody arrangements with approved vault partners.
3.2 Fund Token (FND)
FND tokens represent fractional ownership in curated automotive funds. FND holders own proportional shares of the fund's total asset value and may receive distributions according to fund terms.
3.3 Collateral Token (COL)
COL tokens enable qualified borrowers to access liquidity using automotive assets as collateral. Borrowers retain beneficial ownership while assets are held as security.
4. Regulatory Compliance
BlockCar operates in compliance with global regulatory frameworks including:
ERC-3643: Compliant security token standard for regulatory requirements
MiCA (EU): Markets in Crypto-Assets regulation compliance
MiFID II (EU): Markets in Financial Instruments Directive adherence
FINMA (Switzerland): Swiss Financial Market Supervisory Authority guidelines
VARA (UAE): Virtual Assets Regulatory Authority compliance
SEC (USA): Securities and Exchange Commission regulations where applicable
5. Trading and Transactions
All transactions on the Platform are executed via blockchain smart contracts. By engaging in transactions, you acknowledge:
Blockchain transactions are irreversible once confirmed
You are responsible for all transaction fees (gas fees) associated with blockchain operations
Market prices for tokens may fluctuate based on supply and demand
You accept all risks associated with cryptocurrency and digital asset transactions
6. Wallet Connection and Security
You are responsible for:
Maintaining the security of your cryptocurrency wallet and private keys
All activities conducted through your connected wallet
Ensuring wallet compatibility with our Platform
Monitoring wallet transactions for unauthorized activity
BlockCar does not have access to your private keys and cannot recover lost or stolen assets from your wallet.
7. Asset Custody and Vault Partners
Physical automotive assets are stored with approved Tier-1 vault partners in secure, climate-controlled facilities. By tokenizing assets through BlockCar:
You agree to the custody terms of the designated vault partner
Physical asset custody is separate from token ownership on the blockchain
Vault storage fees may apply and are the responsibility of the asset owner
Insurance coverage varies by vault partner and asset value
8. AI Concierge Services
Our AI Concierge ("Harry") provides market intelligence, portfolio tracking, and asset valuation analysis. You acknowledge that:
AI-generated information is for informational purposes only and not financial advice
Market valuations are estimates based on available data and algorithms
You should conduct independent research before making investment decisions
BlockCar is not liable for decisions made based on AI Concierge recommendations
9. Prohibited Activities
You agree not to:
Use the Platform for money laundering, terrorist financing, or other illegal activities
Manipulate market prices or engage in fraudulent trading practices
Provide false information during KYC/AML verification
Circumvent security features or access controls
Use automated systems or bots without authorization
Infringe on intellectual property rights of BlockCar or third parties
10. Intellectual Property
All content, trademarks, logos, and intellectual property on the Platform are owned by BlockCar or licensed to us. You may not use, reproduce, or distribute any content without written permission.
11. Disclaimers and Limitation of Liability
THE PLATFORM IS PROVIDED "AS IS" WITHOUT WARRANTIES OF ANY KIND. BlockCar does not guarantee:
Uninterrupted or error-free operation of the Platform
Accuracy of asset valuations or market data
Future value appreciation of tokenized assets
Liquidity or ability to sell tokens at any time
TO THE MAXIMUM EXTENT PERMITTED BY LAW, BlockCar SHALL NOT BE LIABLE FOR ANY INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL, OR PUNITIVE DAMAGES ARISING FROM YOUR USE OF THE PLATFORM.
12. Termination
We reserve the right to suspend or terminate your access to the Platform at any time for violation of these Terms, suspicious activity, or regulatory compliance reasons. Upon termination, your token ownership rights on the blockchain remain intact, but Platform access will be revoked.
13. Governing Law and Dispute Resolution
These Terms shall be governed by and construed in accordance with applicable international regulations and the laws of the jurisdiction where disputes arise. Any disputes shall be resolved through:
Good faith negotiation between parties
Binding arbitration if negotiation fails
Applicable courts only as a last resort
14. Changes to Terms
BlockCar reserves the right to modify these Terms at any time. We will notify users of material changes via email or Platform notification. Continued use of the Platform after changes constitutes acceptance of the modified Terms.
15. Contact Information
For questions about these Terms, please contact us at: