Coinmerce‘s Claim Process Terms and Conditions

1. Introduction & Applicability

1.1. These Terms and Conditions govern the process by which individuals may claim unclaimed funds held by Coinmerce ("the Company") after being transferred over from Binance as unclaimed funds for a period predetermined by Binance.

1.2 These Terms and Conditions are aligned with Binance‘s Terms, Article 19 (3) c) and d) related to transfer of assets related to dormant accounts.

1.3 These Terms and Conditions apply to the customers that had a contractual relationship with Binance prior to their departure from the Dutch market and have been identified as Dutch customers at any point in time during the customer lifecycle by Binance.

1.4 These Terms and Conditions also apply in cases of unclaimed funds after the ex-Binance customers who agreed to transfer their assets to Coinmerce as a part of the initial digital asset transfer taking place between 14 July and 17 August of 2023 and failed to deliver sufficient evidence of their source of funds after 30 days since the last communication issued by Coinmerce.

1.5 These Terms and Conditions do not apply in cases of customers who were a part of the initial digital asset transfer between Binance and Coinmerce but could not be serviced by Coinmerce due to risk or compliance reasons.

2. Eligibility

2.1. Only individuals who can provide satisfactory evidence of their identity and ownership of the unclaimed funds may submit a claim. This must be aligned with the regulatory requirements of the applicable anti-money laundering and sanctions law, namely Wwft and Wft.

2.2 The claimant must possess a valid photo ID that can be verified using Coinmerce‘s photo ID verification vendor.

2.3 The claimant must be the rightful owner of the funds and have a valid legal basis for the claim. To prove this, they must be able to evidence association with the account that was previously held by Binance.

2.4 The claimant must have sufficient ties with the Netherlands evidenced by recent (not older than 3 months) proof of residence in the Netherlands. Among the accepted documents are the following (listing a Dutch address):

- Bank statement issued by a Dutch bank in the name of the claimant
- Dutch energy/water provider bill issued in the name of the claimant
- Dutch phone provider bill issued in the name of the claimant
- Rental contract in the name of the claimant duration of which is either unlimited or has an expiry date not shorter than 3 months since the claim has been submitted for verification
- Insurance contract in the individual‘s name that has an expiry date not shorter than 3 months since the claim has been submitted for verification
- Residence permit

2.5 In cases of claimants who are deceased, the following cumulative conditions must be met:

- Death certificate must be available for submission;
- The ownership of the unclaimed funds must be provably linked to the deceased individual;
- There must be sufficient documentary evidence proving that the person claiming the funds on behalf of the deceased person is a legal heir or beneficiary of the unclaimed funds.

2.6 Proven that the conditions in paragraph 2.5 are met, the individual claiming the funds must provide the following documentary evidence as a part of the claim submission:

Death certificate
- an official death certificate of the deceased person from the municipality where the death was registered. The death certificate serves as proof of the person's passing;

Evidence of legal relationship with the deceased person
- a copy of the deceased person's will (testament), if one exists,
- or other legal documents such as a certificate of inheritance (verklaring van erfrecht) issued by a notary; Proof of identity
- a valid passport,
- or Dutch identity card (identiteitskaart);

Proof of residential address
- as listed in par. 2.4 of what is considered to be accepted documents for address verification purposes;
Legal representation
- if the individual claiming the unclaimed funds is represented by a lawyer or notary in matters related to the deceased person's estate, documentation confirming their authority to act on your behalf must be provided.

3. Notification

3.1. The Company will make reasonable efforts to notify individuals with unclaimed funds of the existence of such funds and the claim process.

3.2 Frequency of sending the notification/s is decided upon by the Company.

4. Claim Process

4.1. To initiate a claim, the claimant must complete the official claim form provided by the Company.

4.2. The claim form must be submitted through a dedicated page (Paperform), accompanied by all the required supporting documents.

4.3. The Company reserves the right to request additional documentation or information to verify the claim.

5. Verification

5.1. All claims will undergo a thorough verification process to ensure the accuracy and legitimacy of the claim.

5.2. The claimant agrees to cooperate with the Company during the verification process and provide any requested information promptly to enable the Company to process the claim in a timely manner.

5.3 It is not possible to satisfy the claims of unverified claimants.

6. Decision and Disbursement

6.1. Upon successful verification, the Company will make a decision regarding the claim within a reasonable timeframe that will not be longer than 30 calendar days after the last communication issued by the Company.

6.2. If the claim is approved to be processed, the Company will disburse the unclaimed funds to the claimant through initiating the cryptocurrency transfer to a provided and verified cryptocurrency address/es no longer than 30 calendar days after the approval for processing the claim has been granted.

7. Rejected Claims

7.1. If a claim is rejected, the claimant will be provided with reasons for the rejection.

7.2. The claimant may have the right to appeal the decision within a specified timeframe by submitting a new form via a dedicated page.

7.3 Should the Company conclude that satisfying the claim is not possible due to risk appetite or compliance concerns, it will forward the claim to a third party.

8. Deadline for Claims

8.1. Claims must be submitted within five years from the initial date of notification issued by the Company.

8.2. Claims submitted after the deadline may not be considered and will become a property of the Company.

9. Minimum Withdrawal Threshold

9.1 The amount of crypto assets corresponding to the claim is subject to the minimum withdrawal threshold.

9.2 The minimum withdrawal threshold is dynamic. There are various elements determining its value, including but not limited to the network costs, transactions fees and processing expenses.

9.3 The minimum threshold for each coin is subject to adjustment to ensure that the value of the associated claim is not below the associated costs for withdrawing the amount subject to the claim‘s amount.

9.4 Claimants are responsible for ensuring that their claim is equivalent to or higher than the minimum withdrawal threshold for each coin to facilitate successful settlement of the claim.

9.5 Should the associated claim‘s amount not reach the minimum required withdrawal threshold, the claimant has the option to agree to the Company‘s General Terms (as specified in Article 11 of these Terms) and purchase additional crypto assets to satisfy the minimum threshold requirement.

10. Confidentiality and Data Protection

10.1. The Company will handle all personal information in accordance with applicable data protection laws.

10.2. Personal information provided during the claim process will be used solely for the purpose of processing the claim unless an agreement was given to process the claimant‘s personal data for the purpose of fully onboarding with the Company.

11. The Company‘s General Terms and Conditions

11.1 Subject to a separate agreement to the Company‘s General Terms and Conditions, the claimant may become a fully onboarded customer of the Company.

11.2 If the claimant decides to specifically agree to the Company‘s General Terms and Conditions as a part of the options presented during the claim process, they will be fully onboarded as a customer of the Company.

12. Changes to Terms and Conditions

12.1. The Company reserves the right to modify these Terms and Conditions. Updated terms will be made available on the Company's official website.

13. Governing Law

13.1. These Terms and Conditions shall be governed by and construed in accordance with the laws of the Netherlands.

14. Contact Information

14.1. For further inquiries related to the unclaimed funds claim process, contact [email protected].