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It Terms and Conditions for GGC Project and Stable coin Participation
Last Updated: 20/1/2025
These Terms and Conditions (“Agreement”) govern the use of the GGC Stable coin (“GGC Token”) within the GGC Project, by merchants and participants in the program. By agreeing to participate in the GGC Project, all parties (including merchants and retail customers) agree to be bound by these terms.
1. Purpose and Valuation of the GGC Token
1.1. Stable coin Value: The GGC Token will be valued at an agreed amount of AUD$5.00. The value of the GGC Token will be fixed for all Merchants.
1.2. Stable coin Usage by Merchants and Consumers: Merchants may:
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Use the GGC Token as part of the payment for goods and services, up to any percentage of the total sale that they deem appropriate for their business.
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Possibly use the GGC Token to purchase growth assets in the future, as the program evolves.
Consumers may use the GGC Token for a percentage of their retail purchases with Participating Merchants at the rate displayed at the Businesses location or website. At this time, Consumers may receive GGC Tokens as a loyalty gift from participating business and is not available for sale with fiat currency.
1.3. Non-redeemability for Fiat: The GGC Token is not redeemable or exchangeable for fiat currency (e.g., AUD or USD) at this time.
2. Merchant Participation and Exit
2.1. Voluntary Participation: Merchants may voluntarily agree to participate in the GGC Project by accepting the GGC Token for payments in exchange for goods or services.
2.2. Merchant Exit: Merchants have the right to exit the GGC Project at any time upon written notice to the project administrators, without any claim or redemption of value from the GGC Token. Upon exit, Merchants will no longer be required to accept the GGC Token as a form of payment, but they may continue to use the GGC Token for purchases at participating Merchants.
2.3. No Liability upon Exit: Upon a Merchant’s exit from the program, they shall have no further obligation to accept or facilitate the use of the GGC Token, nor shall they be liable for any loss of value or fluctuations of the GGC Token’s value post-exit.
3. Privacy and Data Protection
3.1. Privacy Policy: All participants in the GGC Project, including Merchants and retail customers, agree to the Privacy Policy associated with the GGC Project. This includes how personal information is collected, stored, processed, and used. For details, please refer to the Privacy Policy [insert link here].
3.2. Data Collection: The GGC Project may collect and store certain personal data in accordance with the Privacy Act 1988 (Cth) (Australia) and other applicable privacy laws. This may include merchant business details, transaction data, and customer information. Any personal data collected will be used solely for the purposes of operating and administering the GGC Project.
3.3. Third-Party Data Sharing: The GGC Project may share necessary data with third parties, such as payment processors, who are involved in facilitating the token transactions or other services related to the GGC Project. These third parties will be subject to privacy and data protection obligations that are consistent with applicable Australian law.
4. Business-to-Business (B2B) Legal Considerations for Australia
4.1. Consumer Protection Compliance: Merchants participating in the GGC Project must comply with all applicable Australian Consumer Law (ACL) under the Competition and Consumer Act 2010 (Cth), including but not limited to ensuring that the use of the GGC Token does not mislead or deceive consumers.
4.2. Taxation and Reporting Obligations: Merchants are responsible for understanding and complying with their taxation and reporting obligations in relation to the acceptance of GGC Tokens. The GGC Project is not responsible for any taxes owed by Merchants or Retail Customers based on their participation in the program.
4.3. Intellectual Property: Merchants are granted a non-exclusive, non-transferable license to use the GGC Token as part of the GGC Project, in accordance with these Terms and Conditions. Merchants are not permitted to use the GGC Token for any purpose outside the scope of this Agreement without prior written consent from the GGC Project administrators.
4.4. Dispute Resolution: In the event of any disputes arising between Merchants, customers, or the GGC Project administrators, parties agree to engage in good faith efforts to resolve the matter through mediation or arbitration before pursuing legal action. The laws of Australia, and specifically those of the state or territory in which the GGC Project is based, will govern any disputes.
4.5. Limitations of Liability: To the fullest extent permitted by law, the GGC Project, its affiliates, administrators, or other participating parties shall not be liable for any indirect, incidental, or consequential damages arising from the use of the GGC Token, including any loss of value, business interruption, or data loss.
5. General Provisions
5.1. Modification of Terms: The GGC Project reserves the right to modify or update these Terms and Conditions at any time. All changes will be communicated to participating Merchants and customers, and their continued participation will constitute acceptance of the revised terms.
5.2. Severability: If any provision of this Agreement is found to be illegal, invalid, or unenforceable, the remaining provisions shall continue in full force and effect.
5.3. Force Majeure: The GGC Project will not be liable for any failure or delay in performance under these Terms and Conditions due to circumstances beyond its reasonable control, including but not limited to natural disasters, pandemics, wars, government actions, or technical failures.
5.4. Entire Agreement: This Agreement constitutes the entire agreement between the parties regarding the use of the GGC Token, and supersedes any prior agreements or understandings, whether written or oral.
By participating in the GGC Project, you acknowledge and agree to be bound by these Terms and Conditions. If you do not agree to these terms, you should not participate in the GGC Project.
For any inquiries or further information, please contact the GGC Project administrators at ceo@globalglamping.org
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