This LBank P2P Merchant Agreement (the “Agreement”) is entered into by and between you (the “Merchant” or “you”) and LBank and its affiliates (collectively, “LBank,” the “Platform,” “we,” “us,” or “our”) with respect to your application to become an LBank P2P merchant and your access to and use of the relevant merchant services.

Before clicking to accept, submitting a merchant application, using advertisement posting privileges, or otherwise accessing or using the Merchant Services, you shall carefully read and fully understand all terms of this Agreement, especially those relating to disclaimers, limitation of liability, the Platform’s enforcement rights, and your obligations as a Merchant. By applying to become a Merchant or by accessing or using the Merchant Services in any manner, you shall be deemed to have read, understood, and accepted this Agreement, as well as all rules, announcements, statements, and operational guidelines published or to be published by the Platform, all of which shall constitute an integral part of this Agreement and shall have the same legal effect as this Agreement.

If you do not agree to this Agreement in whole or in part, you shall immediately cease applying for, accessing, or using the Merchant Services, and, where applicable, apply to the Platform for termination of your Merchant status.

Introduction

This Agreement constitutes a legally binding agreement between you and LBank and applies to all of your acts related to the access to, use of, application for, administration of, and withdrawal from the LBank P2P platform and the relevant Merchant Services.
You understand and acknowledge that LBank only provides technical services for information publishing, transaction matching, and related platform support, and is not a party to any P2P transaction, nor does it participate in the flow of funds, trading decisions, or specific performance between users.
All P2P transactions are independently concluded and performed by the relevant transacting parties. Any and all risks, liabilities, disputes, losses, and legal consequences arising therefrom shall be borne solely by the respective parties to such transaction. Unless otherwise expressly required by applicable law, no partnership, agency, employment, guarantee, or similar relationship shall be created between LBank and any Merchant or user, and LBank shall not bear any joint or several liability in connection therewith.

Amendments to the Agreement

LBank reserves the right, at its sole discretion, to revise, update, supplement, or otherwise amend this Agreement from time to time for reasons including, but not limited to, business development, product adjustments, risk control, compliance requirements, or any other reasonable grounds. Any such revised version shall become effective upon publication on the Platform, without separate notice to you, unless otherwise required by applicable law.
Upon publication on the Platform, the revised Agreement shall supersede the relevant provisions of the previous version. Any “Last Updated” date displayed at the top of the Agreement is provided for reference only.
If you continue to access or use the Merchant Services after any amendment becomes effective, you shall be deemed to have accepted the revised Agreement in full. If you do not agree to any such amendment, you must immediately cease accessing or using the Merchant Services and apply to withdraw your Merchant status in accordance with the Platform’s requirements.

Definitions

Merchant: means a user who has been verified, reviewed, and approved by LBank and is authorized to post certain buy and sell advertisements on the LBank P2P platform, and to process relevant orders, verify payments and receipts, and complete transaction performance in accordance with the Platform Rules.
Merchant Services: means the services provided by LBank to support Merchants in carrying out P2P activities on the Platform, including but not limited to platform access and use, advertisement posting privileges, transaction handling, asset exchange and transfer, related applications, tools, functions, websites, software, and any other products or services provided by LBank from time to time.
Affiliate: means any entity that directly or indirectly controls, is controlled by, or is under common control with a party, or otherwise has the power to exert significant influence over such party’s business decisions, including through equity ownership, contractual arrangements, or other similar arrangements.
Force Majeure: means any event beyond the reasonable control of the Platform, which is unforeseeable, unavoidable, and insurmountable, including but not limited to information system or network failures, communication interruptions, power outages, equipment maintenance or technical issues, natural disasters, public health events, strikes or labor disputes, riots, social unrest, wars, terrorist acts, governmental actions, judicial or administrative orders, partner-related causes, material abnormal fluctuations or crashes in the digital asset market, and any other circumstances not caused by the Platform and beyond its control.

Merchant Application & Exit

Application Materials

Any user applying to become a Merchant on the Platform shall, in accordance with the Platform’s requirements, complete true, accurate, complete, and valid identity verification and account binding procedures, including but not limited to:

completing identity verification as required by the Platform;
linking an email address; and
linking a payment method.

The Platform reserves the right, based on risk control, anti-money laundering review, compliance requirements, or other business needs, to require the applicant to supplement, update, correct, or resubmit relevant materials.

Security Deposit

After passing the Platform’s identity verification and anti-money laundering review, a Merchant may:

deposit a certain amount of security deposit into its account as required by the Platform, which shall serve as performance security for the Merchant’s trading activities and related obligations on the Platform; or
provide other supporting documentation sufficient to prove that it meets the Platform’s qualification requirements for Merchants, including visible real-name verification information, and ensure that the applying account has no adverse trading record.

In the event of any of the following circumstances, or any similar circumstances, the Platform shall have the right to take corresponding measures with respect to the security deposit based on the actual situation, including but not limited to freezing, restricting use, deducting, or otherwise disposing of the security deposit as necessary:

the Merchant uses the Platform to engage in illegal, non-compliant, or otherwise improper conduct;
the Merchant breaches this Agreement, the Platform Rules, or any other applicable LBank rules;
a dispute arises during a transaction and, pursuant to the applicable rules, the Platform determines that the Merchant shall bear corresponding responsibility, but the Merchant fails to perform the relevant obligations within a reasonable time; or
any other circumstance that may pose a risk to user interests, transaction order, or Platform security.

For the avoidance of doubt, the Platform shall have the right, based on this Agreement, the Platform Rules, and general commercial practice, to make reasonable determinations regarding the relevant facts, degree of risk, and allocation of responsibility in connection with any transaction. The security deposit may be used for user compensation, assumption of liability for breach, and indemnification of losses suffered by the Platform as a result thereof.

Application Process

The Merchant application process is as follows:

complete identity verification
complete email and payment method binding
fill in the relevant information
pay the security deposit or provide supporting documents
await Platform review
receive the review result.

LBank’s existing P2P service pages also reflect account login, payment method setup, and transaction management through the Platform workflow, and this procedural structure is consistent with the Platform’s product and support documentation.
Where an applicant chooses to apply by paying a security deposit, the Platform shall have the right to freeze the corresponding amount of the security deposit. During the validity period of the Merchant status, the Merchant shall not trade, transfer, or otherwise dispose of such frozen assets.

After completion of the foregoing process, the Platform shall notify the applicant of the review result for the Merchant qualification application through official channels within five (5) business days.

Merchant Exit

If a Merchant intends to terminate its Merchant status on the Platform, it shall submit an exit application in accordance with the Platform’s requirements.

Upon receipt of such an exit application, the Platform shall have the right to disable the Merchant’s privileges, remove the Merchant’s advertisements, and review the Merchant’s historical transaction status, including but not limited to pending orders, unresolved disputes, abnormal trading records, and violations.
Where the Platform confirms that there are no outstanding matters or relevant risks, it shall notify the Merchant that the exit application has been approved, and, within a reasonable period from the date of such notice, generally no more than seven (7) business days, unfreeze the security deposit to the Merchant’s account and complete the Merchant exit process.
Where the Merchant has unresolved disputes, violations, risk events, or other pending matters, the Platform reserves the right to suspend or reject the exit application until such matters have been properly resolved.

Merchant Conduct & Responsibilities

A Merchant shall at all times conduct itself on the Platform in a manner that is honest, prudent, and professional, and shall treat other users fairly, with integrity, and with respect.
Before posting any advertisement, the Merchant shall ensure that all advertisement information is true, accurate, complete, and valid, including but not limited to price, quantity, payment method, and other transaction terms.
The Merchant shall promptly process payments, release digital assets, and respond to users, and may only accept payment methods that the Merchant has posted or that are supported by the LBank P2P platform.
The Merchant shall not cancel orders without cause or initiate malicious appeals. Before filing an appeal, the Merchant shall first contact the counterparty and attempt to resolve the issue. LBank’s existing P2P interface includes both chat and appeal functions, and this requirement is consistent with the Platform’s current transaction flow.
The Merchant shall not use “LBank,” bank names, payment method names, or any other sensitive terms in its nickname that may cause confusion, misunderstanding, or risk.You understand and agree that, as a Merchant, you shall independently bear all legal responsibilities arising from your posting of advertisements and conduct of transactions on the Platform, including but not limited to contractual liability, tax liability, and compliance obligations.

Merchant Conduct & Transaction Requirements

The name associated with your payment method must be identical to the name used in your LBank identity verification. LBank’s existing P2P payment method guidance also indicates that payment methods are tied to verified account information, which is consistent with this requirement.
Off-platform transactions with users outside the LBank P2P platform are strictly prohibited. LBank shall bear no responsibility for any off-platform transaction, and all risks arising therefrom shall be borne solely by the Merchant.
You shall not include any personal contact information in your advertisements, transaction terms, or auto-replies, including but not limited to Telegram, WhatsApp, email addresses, or any other contact details.
You are strictly prohibited from sharing any external links in transaction terms, auto-replies, or chats, or otherwise directing users to any external platform. LBank only provides on-platform transaction services and shall bear no responsibility for any external website, link, or activity.
The use of any third-party payment processor or payment service provider is strictly prohibited. You may only use personal or corporate bank accounts registered under your verified name to conduct transactions.
Splitting fiat payments into multiple transfers is prohibited. Each payment must exactly match the agreed order amount. Unless the counterparty has expressly requested and agreed otherwise, no partial transfer or multiple payments shall be made for a single order.
The use of abusive, threatening, insulting, or otherwise disrespectful language is prohibited. You shall maintain a professional attitude in all communications, transactions, appeals, and interactions with customer support.
If you detect any suspicious circumstances during a transaction, you are advised to request additional identity verification from the counterparty. If the counterparty refuses to provide further information, you shall promptly contact LBank customer support for assistance.
If, after receiving your payment, a user reports that their bank account has been frozen, you shall immediately stop using that payment method and cooperate with LBank by providing all necessary information and evidence.
You are strictly prohibited from participating in any transaction involving illegal funds. All assets used in P2P transactions must originate from and be used for lawful and compliant purposes, and must not involve money laundering, criminal activity, or any other illegal conduct.
When acting as a buyer, a Merchant must pay only to the account and via the payment method specified in the P2P order, unless the Seller expressly requests otherwise through the Platform. The Merchant is responsible for any risks or losses arising from a breach of this requirement.
LBank reserves the right to review any suspicious transaction and to take any risk control measures it deems necessary, including but not limited to restricting account functions, requiring supplementary information, suspending trading, revoking Merchant status, prohibiting related activities, and confiscating the security deposit. If you introduce illegal digital assets or illegal funds into LBank, or engage in fraudulent conduct during a transaction, thereby causing LBank or its users to face legal risks, asset losses, or other adverse consequences, LBank further reserves the right to seek recovery from you for all direct and indirect losses.

Revocation of Merchant Qualification

For purposes of risk control, compliance, or transaction security, and in order to maintain a safe, fair, and transparent P2P trading environment, LBank reserves the right to revoke the qualification of any Merchant that violates the Platform Rules. Grounds for revocation include, without limitation:

failure to cooperate with LBank customer support during dispute resolution, including repeatedly ignoring requests for information or assistance;
charging hidden fees, unauthorized fees, or requesting that users pay amounts exceeding those expressly specified in the advertisement order;
encouraging or directing users to trade or communicate outside the LBank platform;
improperly handling, sharing, or misusing users’ personal information, including names, contact details, or banking information;
disseminating misleading, false, or disruptive information that may negatively affect users’ trust in LBank;
exploiting technical issues, system loopholes, or other improper means to obtain an unfair trading advantage;
using multiple LBank accounts to manipulate transactions, monopolize the market, or block other users;
receiving excessive negative reviews, low ratings, or long-standing unresolved user complaints;
engaging in disrespectful, offensive, insulting, or abusive communications through chats, appeals, or support channels;
participating in market manipulation, price manipulation, collusive conduct, or any other activities that disrupt fair market order;
remaining inactive for an extended period or maintaining persistently low trading activity;
having a low order completion rate, frequent disputes, excessive complaints, or slow response times;
maliciously exploiting loopholes in the Platform Rules for improper gain;
engaging in direct fraud, strongly associated account fraud, intimidation, or directing users to third-party transactions; or
renting, lending, buying, or selling another person’s bank card for trading purposes where the Platform determines that money laundering is suspected; where conclusive evidence establishes direct participation in money laundering, the Platform reserves the right to proactively report such conduct to the relevant judicial or law enforcement authorities.

LBank reserves the right to independently determine whether to revoke a Merchant’s qualification based on the Merchant’s conduct, internal risk assessments, user feedback, trading performance, and the Platform’s security management needs. All Merchants shall comply with the Platform Rules and provide users with a safe, compliant, and professional trading experience.

Penalties & Disciplinary Measures

LBank strictly enforces its Platform Rules in order to maintain a safe and fair P2P trading environment. If a Merchant violates this Agreement or any other applicable rules, LBank may, based on the nature, severity, duration, and scope of impact of such violation, impose one or more of the following measures:

warning;
suspension of trading;
suspension of advertisements;
revocation of Merchant qualification;
disabling of all account functions; and
confiscation of the security deposit.

The above measures may be applied individually or in combination, depending on the nature, severity, and scope of impact of the violation.

Disclaimer & Limitation of Liability

To the maximum extent permitted by applicable law, LBank shall not be liable for any loss, adverse consequence, liability, or risk arising out of or in connection with any of the following circumstances:

information leakage, data loss, account theft, or account tampering caused by hacker attacks, computer viruses, system or network failures, telecommunications adjustments, government control measures, or third-party causes, including Force Majeure events;
account information leakage, fund risks, or related disputes caused by issues with third-party services or external websites, including but not limited to banking systems, payment institutions, or other platforms;
information leakage, asset loss, or other risks resulting from the Merchant’s failure to properly safeguard account information, including but not limited to account name, password, verification code, or from lending, transferring, or authorizing others to use the account;
verification failures, abnormal transactions, or other losses caused by incorrect, incomplete, or untrue information provided by the Merchant or the counterparty;
fraud, scams, or other losses suffered by the Merchant’s assets due to reasons not attributable to the Platform; or
where the Merchant voluntarily applies to exit as a Merchant while there are still pending orders or unresolved matters, the Merchant shall be deemed to have waived the relevant rights, and the Platform shall have the right to handle such matters based on the actual circumstances.

For the avoidance of doubt, the Platform makes no express or implied representation, warranty, or guarantee regarding any counterparty’s performance capability, authenticity of identity, or transaction security. To the extent permitted by applicable law, the Platform shall also not be liable for any indirect, incidental, special, consequential, profit-related, or expected revenue losses.

Special Statement

The fact that the Platform conducts basic information review of certified Merchants or requires the payment of a security deposit does not mean that such certified Merchants are 100% trustworthy, nor does it create any guarantee relationship between the Platform and any certified Merchant. Users shall strictly follow the trading procedures prescribed by the Platform and avoid trusting any request to release digital assets before funds are received, or any request to cancel an order after payment has been made, in order to safeguard transaction and asset security.

Given the particular nature of digital asset transactions, users shall pay special attention to anti-money laundering risks during the transaction process and shall verify, based on the real-name information shown in the order, that the identity and payment information of the counterparty are accurate and consistent.

Miscellaneous

This Agreement shall become effective as of the date of its publication on the Platform and shall remain in force until your Merchant status is revoked or terminated and you have fully performed all obligations under this Agreement.
If you have any questions, complaints, comments, or suggestions regarding this Agreement or the handling of any matter hereunder, please contact the Platform at 📮fiatcs@lbank.com .
The interpretation of this Agreement shall follow the principle of good faith and shall be conducted within the framework of applicable laws.
The final right of interpretation of this Agreement shall vest in the Platform. LBank further reserves the right, at its sole discretion, to modify, change, or cancel this notice at any time for any reason, and any revised version shall become effective upon publication on the Platform without further notice. LBank does not make any recommendation or guarantee with respect to any virtual assets, products, or promotional activities on the Platform.