Terms of Service

Last Updated: 31 August 2026

This Terms of Service ("Agreement") governs your use of the services provided by Sarraf Finansal Teknolojiler A.Ş. ("Sarraf", "Platform" or "We"). By accessing the platform, creating an account, or connecting a wallet, you agree to this Agreement.

1. Definition of Service

Sarraf is a technological infrastructure provider that offers blockchain-based escrow and smart contract services to secure payment processes between buyers and sellers in commercial transactions. Sarraf is not a bank, clearinghouse, payment institution, exchange, custodian in the regulatory sense, or financial advisor, and provides no investment advice.

2. Eligibility and Capacity

• You must be at least 18 years old and have full legal capacity to enter into this Agreement.
• The platform is intended for commercial (business-to-business) use. Your use of it is not a consumer transaction.
• If you act on behalf of a legal entity, you represent that you are duly authorised to bind that entity, and "you" refers to both you and that entity.
• You represent that you are not subject to any applicable sanctions programme and that you will not use the platform on behalf of a sanctioned person or country.

3. User Obligations and Accounts

• Account Structure & Roles: Users register as individuals. An individual account can only participate in one (1) active organization/company at a time. The user who creates the company assumes the "Owner" role with full permissions, while other members can only act within their explicitly granted permissions.
• Verification (KYC/KYB): To use the platform fully, you must complete identity/corporate verification processes as required by legal regulations.
• Information Accuracy: You commit that all information provided during registration and uploaded commercial documents (invoices, etc.) are accurate, up-to-date, and legal.
• Wallet and Security: If using your own wallet (non-custodial), you are fully responsible for the security of your private keys. Wallets managed by the platform on your behalf are stored under Sarraf's security policies, but losses arising from unauthorized account access remain the user's responsibility.
• Account Security: You are responsible for keeping your credentials and two-factor authentication device secure, and for every action taken through your account. Notify us at [email protected] without delay if you suspect unauthorised access.

4. Prohibited Use

You may not use the platform to launder money or finance terrorism; to carry out a transaction with no genuine underlying trade (including fictitious or circular trades); to upload forged, altered or misleading documents; to trade goods or services whose sale is prohibited under applicable law or subject to sanctions; to impersonate another person or organisation; to circumvent verification, permission or rate limits; or to attack, overload, scrape or reverse-engineer the platform's systems.

5. Blockchain Networks and Crypto Assets

• Network and Asset Support: The blockchain networks (e.g., EVM-based networks) and supported crypto assets (e.g., USDT, USDC) used in transactions are determined by Sarraf. Sarraf reserves the right to change, suspend, or add new networks and assets at any time. The authority to choose from these supported assets rests with the user (buyer/seller agreement) on the trade screen.
• Risk Declaration: Crypto asset markets carry high volatility. Sarraf is not responsible for technical glitches, congestion, or fork situations that may occur on the networks.
• Irreversibility: Confirmed blockchain transactions cannot be reversed, cancelled or recalled. Transfers made to a wrong address, or transactions signed in error, cannot be undone by Sarraf.

6. Smart Contracts and Escrow Rules

• Funds remain locked in smart contracts on the blockchain until specified conditions (document approval, dispute resolution, etc.) are met.
• Trade Rules: If the UCP 600 or eUCP 2.1 profile is selected for a transaction, the mandatory fields and consistency checks of these rules will apply, and users agree to be bound by these international frameworks.
• Release Conditions: The release condition of a trade is agreed between the parties when the trade is set up. Depending on the condition selected, funds may be released on the parties' own approvals, or through the platform performing a documentary check.
• The Platform's Role: Where the parties have agreed to it, or where a dispute requires it, Sarraf may act as mediator between the parties, record the outcome of a documentary check and thereby open the release gate, or execute an arbitration decision on the smart contract. Sarraf does not create fund movements on a party's behalf outside these roles agreed in advance or mandated by a dispute decision, and every such action is written to the audit trail.
• Dispute: In the event of a disagreement, an external arbitrator or arbitration institution agreed upon by the parties makes the final decision. Sarraf acts as the technical executor reflecting the arbitration outcome on the smart contract.

7. Fees

• Use of the platform may be subject to fees and rates determined by Sarraf and announced through the platform. The current fees and rates applicable to a transaction are shown to you on the platform before the transaction.
• The fee applying to a transaction is fixed at the moment the funds are locked; subsequent fee changes do not affect that transaction.
• Blockchain network fees (gas) are charged by the network, not by Sarraf, and are borne by the party initiating the transaction.
• Unless otherwise stated, fees are exclusive of taxes; any tax arising from the transaction is the responsibility of the party liable for it.

8. Service Availability and Suspension

The platform may be temporarily suspended in whole or in part for maintenance, security or updates. Where possible, planned maintenance is announced in advance. Sarraf may also suspend an account or a transaction where required by a legal obligation, a suspicion of fraud or AML risk, or an active security incident, and will inform you unless a legal restriction prevents it.

9. Limitation of Liability

The platform does not guarantee that the services will be uninterrupted, error-free, or entirely secure against cyber attacks. Sarraf cannot be held liable for delays or data losses caused by the blockchain structure or third-party service providers. Sarraf is not liable for the performance of the underlying commercial relationship between the parties, the conformity of the goods, or the accuracy of the documents. Save for cases of intent and gross negligence, Sarraf's total liability arising from a transaction is limited to the platform fees collected in respect of that transaction.

10. Personal Data

To provide our services, we process your personal data and share it with service providers (e.g., KYC, email, AI analysis). Please read our Privacy Policy for detailed information on processed data, AI integration, and your rights.

11. Notices and Electronic Communication

Notices relating to this Agreement and to your transactions are sent to your registered email address and to the platform's in-app notification area, and you accept these as valid electronic notices. It is your responsibility to keep your registered address current.

12. Amendments to this Agreement

Sarraf may amend this Agreement. Amendments are published on this page with an updated "Last Updated" date; material amendments are additionally notified to your registered email address before they take effect. If you continue to use the platform after the effective date, you are deemed to have accepted the amended text; if you do not accept it, you may stop using the platform and close your account. Amendments do not change the agreed terms of transactions already locked.

13. Termination

Sarraf has the right to unilaterally freeze or terminate your account and/or wallet access in the event of a violation of these rules, suspicion of fraud, money laundering (AML), or upon requests from legal authorities. You may close your account at any time provided you have no open transactions. Termination does not affect the settlement of transactions already locked, nor statutory retention obligations.

14. Force Majeure

Sarraf is not liable for failures to perform caused by events beyond its reasonable control — including natural disaster, war, epidemic, official acts, infrastructure or internet outages, and blockchain network halts or forks.

15. Assignment and Severability

You may not assign this Agreement without Sarraf's written consent. Sarraf may assign it in the context of a merger, demerger or transfer of business. If any provision is held invalid, the remaining provisions stay in force.

16. Governing Law and Dispute Resolution

Turkish laws will apply to any disputes arising from this Agreement, and Istanbul (Çağlayan) Courts and Execution Offices are authorized. This choice of jurisdiction applies as an agreement on jurisdiction between merchants.