Terms and Conditions
Your purchase of Authorship Tokens (“ATS”) during the ATS sale period (“Sale Period”) from Authorship (“Company,” “we,” or “us”) is subject to these Terms of Sale (“Terms”).
By purchasing ATS from us during the Sale Period and/or using ATS in connection with the Platform (as defined below), you will be bound by these Terms and all terms incorporated by reference. If you have any questions regarding these Terms, please contact us at firstname.lastname@example.org
Purpose and Use of ATS in Connection with the Platform
Ownership of ATS carries no rights, express or implied, other than the right to use ATS as a means to obtain Services, and to enable usage of and interaction with the Platform, if successfully completed and deployed. In particular, you understand and accept that ATS do not represent or confer any ownership right or stake, share or security or equivalent rights, or any right to receive future revenue shares, intellectual property rights or any other form of participation in or relating to the Platform, and/or Company and its corporate affiliates, other than rights relating to the receipt of Services and use of the Platform, subject to limitations and conditions in these Terms and applicable Platform Terms and Policies (as defined below). ATS are not intended to be a digital currency, security, commodity or any other kind of financial instrument.
Scope of Terms
The use of ATS in connection with the Services or Platform may be governed by other applicable terms and policies (collectively, the “Platform Terms and Policies”). Any Platform Terms and Policies we promulgate will be available at www.authorship.com. We may add terms or policies to the Platform Terms and Policies in our sole discretion, and may update each of the Platform Terms and Policies from time to time according to modification procedures set forth therein. To the extent of any conflict with these Terms, the Platform Terms and Policies shall control with respect to any issues relating to the use of ATS in connection with the Services or Platform.
Token Sale Procedures and Specifications
Total Number of BAT to be Created and Sold
The company will create a total number of 100 million ATS tokens. This is the total fixed supply number and no other tokens can be created. The company will offer for sale, through the ICO, 80% (80 million) ATS tokens. The remaining 20% (20 million) are to be kept in a reserved fund to be distributed, as a marketing method within 24 months, towards the authors who will register on the platform.
Commencement and Duration of Token Sale
The sale will begin on 15th August and will end on 14th September. The sale is deemed successful if it raises a minimum amount of $500,000. In case the sale raises less than the minimum amount, all deposits will be returned to the contributors. The maximum amount raised can be $15,000,000 , moment when the sale will end.
1 ETH will purchase a minimum of 5000 ATS. The exact price will be determined when the sale ends using the formula:
1 ATS = Total Amount Raised / 100.000.000 tokens.
Procedures for Buying and Receiving ATS
In order to purchase ATS during the Sale Period, and to receive the ATS you purchase, you must have an Ethereum wallet that supports the ERC20 token standard.
With 24 hours before the sale’s date, the Company will publish an Ethereum address for the ATS sale. In order to purchase ATS tokens, you must send Ether (ETH) to the provided address. Sending Ether to any other address may result in loss of Ether. At our sole discretion, the Company reserves the right to accept deposits through credit card payments and wire transfers.
Cancellation; Refusal of Purchase Requests
Your purchase of ATS from us during the Sale Period is final, and there are no refunds or cancellations. We reserve the right to refuse or cancel ATS purchase requests at any time in our sole discretion.
Acknowledgment and Assumption of Risks
You acknowledge and agree that there are risks associated with purchasing ATS, holding ATS, and using ATS in connection with the Services and Platform. If you have any questions regarding these risks, please contact us at email@example.com.
You are responsible for implementing reasonable measures for securing the wallet, vault or other storage mechanism you use to receive and hold ATS you purchase from us, including any requisite private key(s) or other credentials necessary to access such storage mechanism(s). If your private key(s) or other access credentials are lost, you may lose access to your ATS. We are not responsible for any such losses.
The purchase price that you pay for ATS is exclusive of all applicable taxes. You are responsible for determining what, if any, taxes apply to your purchase of ATS, including, for example, sales, use, value added, and similar taxes. It is also your responsibility to withhold, collect, report and remit the correct taxes to the appropriate tax authorities. We are not responsible for withholding, collecting, reporting, or remitting any sales, use, value added, or similar tax arising from your purchase of ATS.
To the fullest extent permitted by applicable law, you will indemnify, defend and hold harmless Company and our respective past, present and future employees, officers, directors, contractors, consultants, equity holders, suppliers, vendors, service providers, parent companies, subsidiaries, affiliates, agents, representatives, predecessors, successors and assigns (the “Company Parties”) from and against all claims, demands, actions, damages, losses, costs and expenses (including attorneys’ fees) that arise from or relate to: (i) your purchase or use of ATS, (ii) your responsibilities or obligations under these Terms, (iii) your violation of these Terms, or (iv) your violation of any rights of any other person or entity.
To the fullest extent permitted by applicable law, you release Company and the other Company Parties from responsibility, liability, claims, demands and/or damages (actual and consequential) of every kind and nature, known and unknown (including, but not limited to, claims of negligence), arising out of or related to disputes between users and the acts or omissions of third parties.