Swiftcourt Fraud Protection - Policy

1. Scope of the Document

This document ("Fraud Protection Policy") regulates the terms related to the Fraud Protection Guarantee (as further described in this Fraud Protection Policy) issued by Swiftcourt AB, Org. No. 559084-1721 ("Swiftcourt") to protect transactions made in Sweden, Norway and Germany using a combination of the solutions Swiftcourt Contract and Secure Payment with Swiftcourt ("Transaction Contract"/"Payment Service" and jointly "The Solutions") by a buyer and/or seller. This Fraud Protection Policy does not in any way limit your consumer rights or any liability imposed on Swiftcourt by mandatory consumer legislation. The buyer and seller are hereinafter referred to as "the parties" and each of them separately as "a party".

The buyer and seller are hereinafter referred to as "the parties" and each of them separately as "a party".

2. Purpose of the Guarantee

Swiftcourt's Fraud Protection Guarantee means that Swiftcourt guarantees a fraud-free outcome (or an equivalent result) for transactions that have used the Solutions in combination in accordance with this Fraud Protection Policy ("the Guarantee").

3. Why Swiftcourt can guarantee a fraud-free transaction

When using the combination of the Solutions, Swiftcourt protects both the purchased/sold item and the transaction by:

• Documenting the terms of the agreement between buyer and seller in a legally binding sales contract (Transaction Contract);
• Applying legally binding e-signatures from both parties (In Sweden and Norway via mobile BankID);
• Performing a combined Account Information Check and Name Check on both parties to ensure they own the specified Bank Accounts and have therefore passed significant KYC checks via their respective banks;
• Cross-referencing both parties' names against sanctions lists, AML lists, and anti-terror lists; and
• Protecting the purchase price for the item in an escrow account where the money is secure until both parties have confirmed that the handover of the item went well. This means that the seller can hand over or send the goods and be sure that the money is available, and the buyer can pay knowing that they will get their money back if they do not receive the goods.

Conflict Resolution: Should one or more contractual terms nevertheless not be met, Swiftcourt offers assistance with conflict resolution with clear conditions on what happens to the money or the goods if an acceptable solution cannot be found.

We compensate if we fail: Should fraud nevertheless occur, Swiftcourt guarantees to compensate either party in such a way that their conditions remain equivalent to how they would have been before using the Solutions.

4. Definitions

• a. What is considered fraud

  Fraud means intentional deception to achieve unfair or illegal gain. In the context of Swiftcourt transactions, this may include the following examples:

  • The seller accepts payment but does not deliver the agreed goods.
  • The seller receives payment but delivers goods in a significantly worse condition than agreed in the Swiftcourt contract.
  • The buyer claims ownership of the goods without payment.

• b. What is not considered fraud

  • i. Contractual disputes

    Any actions that can be considered a contractual dispute, e.g., a case that does not meet the requirements for fraud in terms of "intentional deception" and "unfair or illegal gain". In the context of Swiftcourt transactions, this may include, but is not limited to, the following examples:

    • The seller accepts payment but does not deliver the goods on time.
    • The seller receives payment but delivers goods that reasonably meet the terms of the agreement between the buyer and seller, but do not meet the buyer's expectations.
    • The buyer claims ownership of the item but does not pay on time.
    • The seller delivers goods that do not meet the agreed terms of the transaction (e.g., size/function).

    Although disputes cannot activate the Guarantee, disputes or complaints relating to a transaction processed via the Payment Service will nevertheless be handled by Swiftcourt, in accordance with the Terms and Conditions of the Payment Service and associated Conflict Resolution. This means that in most cases, the error will either be rectified by the party who caused the error, or the counterparty will be fully or partially compensated for the incident.

  • ii. Sale of stolen or prohibited goods

    According to the Terms and Conditions of Swiftcourt's Payment Service, the Payment Service may not be used for the sale of stolen or otherwise unauthorized goods. Swiftcourt and its associated services are unable to determine the actual ownership of the sold asset. The responsibility for confirming the right to sell remains with the buyer, and the Guarantee therefore does not apply if the object of the transaction was stolen. Similarly, the Guarantee does not apply if the object of the transaction falls into any other category of prohibited goods listed in the Terms and Conditions of the Payment Service.

5. Who can use the Guarantee?

All Swiftcourt users who, at the time of the transaction, are entitled to use the Solutions.

6. When does the Guarantee apply?

The Guarantee applies under the following conditions:

• The combination of the Solutions must have been used in the specific transaction;
• The Solutions must have been used in accordance with their intended and prescribed use;
• The Solutions must have been used in accordance with Swiftcourt's applicable rules and terms;
• The transaction must have taken place in Sweden, Norway or Germany;
• The act/circumstance giving rise to a claim must meet the requirements for and constitute Fraud; and
• The affected party can strongly support their claim in accordance with section 8 b) below.

7. When does the Guarantee not apply?

The Guarantee does not apply under the following conditions:

• If the money is still securely held in the escrow account. In this case, the transaction can instead be blocked by either party, in which case the product and money will be returned to their respective original owners, or a complaint will be triggered, which will be handled in accordance with the Terms and Conditions of the Payment Service and associated conflict resolution.
• If it can be proven that the defrauded party has acted with gross negligence.
• If the defrauded party has in any way conspired with the counterparty to commit the Fraud.
• If users have used copycat services that look like, or claim to be, Swiftcourt products.
• If force majeure or another unforeseeable event, beyond Swiftcourt's control, prevents the fulfillment of the Guarantee.
• If the conditions stated in point 6 above are not met.

8. How a claim is handled and what happens in case of fraud

All claims under this Fraud Protection Policy will always be handled in accordance with Swiftcourt's Dispute management Policy, as set out in the Terms and Conditions of the Payment Service. In addition, the following terms and procedures apply:

• a. Reporting a claim
  A claim under the Guarantee must be reported as soon as the Fraud has been detected, to help prevent the completion of the fraud or enable the recovery of the stolen assets. The fraud case shall be reported and the guarantee claim shall be submitted by clicking on "START COMPLAINT" from the contract view in the Swiftcourt app. The case will then be handled via Swiftcourt's Mediation Platform.

  If the affected party is not sure if it is Fraud, they can instead immediately contact Swiftcourt Customer Service to report their suspicions and receive further guidance.

• b. Submission of supporting documents
  The Guarantee is only valid if the defrauded party can substantiate their claim. For this purpose, Swiftcourt requires:

  • A written statement of the incident.
  • A copy of the police report of the incident, including the report's diary number.
  • Contact details and/or certifications from two independent persons, unrelated to the parties involved, who can confirm that they have not seen the allegedly affected party in possession of the goods or the purchase price.
  • Additional supporting material will be assessed on a case-by-case basis.

• c. Settlement of claims
  A claim is considered settled when a final assessment has been published on Swiftcourt's Mediation Platform and the potential compensation has reached the bank account that the defrauded party used in the Payment Service or that is specified in the Swiftcourt contract.

  A settled case can result in one of two outcomes:

  • Approved: The conditions for activating the Guarantee are deemed to be met. The defrauded party will be compensated in accordance with section 9 "Compensation" of this Fraud Protection Policy.
  • Rejected: The case does not meet the established criteria for activating the Guarantee, and no further action will be taken. The reasons why the Guarantee cannot be activated will be clearly stated. If the party wishing to use the Guarantee wants to provide additional material to prove that the Guarantee truly applies, they can do so within 30 days of the publication of the decision.

Swiftcourt aims to resolve all claims under the Guarantee within 30 days of receiving the claim.

Ett anspråk kommer att anses vara mottaget baserat på tidsstämpeln för det första meddelandet som publicerades på Medlingsplattformen av den bedragna parten som anger att de vill rapportera en bedräglig incident.

A claim will be considered received based on the timestamp of the first message published on the Mediation Platform by the defrauded party indicating that they wish to report a fraudulent incident. Swiftcourt will not pay any compensation for delayed fulfillment of the Guarantee if it takes longer than 30 days to resolve the claim, unless:

• The defrauded party can prove that the delay has caused them financial damage, AND;
• Swiftcourt cannot prove that the delay was caused by the defrauded party or other factors beyond Swiftcourt's control.

9. Compensation

We at Swiftcourt believe that it should not be possible to commit fraud when the combination of the Solutions is used. If our preventive methods nevertheless fail, our goal is to guarantee you a result equivalent to the result you would have seen if you had not been defrauded, by restoring you to the same financial situation as before you used our service. This will be achieved through financial compensation.

For this purpose, Swiftcourt will compensate a party with an approved claim with the monetary value they have lost as a result of the fraudulent act.

The compensation value cannot exceed the value of the goods stated in the Swiftcourt contract. It also cannot exceed Swiftcourt's usage cap for the payment service of 50,000 Euros.

Other limitations:

• If the value stated in the contract is significantly higher than what can reasonably be expected for a similar product, Swiftcourt will take this as reason to suspect that there may be a conspiracy to commit fraud between the parties. In this case, Swiftcourt will only compensate the defrauded party with the monetary value that is reasonable for a similar product, taking into account the market situation on the day the contract was signed by both parties.
• Swiftcourt does not compensate for pain and suffering. This guarantee refers only to the monetary value of the item.
• Swiftcourt does not compensate for any additional costs incurred in connection with the fraud (e.g., investigation costs, interest, court fees) unless Swiftcourt has given its express written consent for such costs to be incurred in advance.

10. Applicable Law and Appeal

The Guarantee is governed by applicable law depending on the country of transaction.

A party whose activation of the Guarantee has been denied may appeal this decision directly to Swiftcourt by submitting supporting documents within 30 days of the rejection being published.

Further appeal shall be made to the applicable court in the country of transaction.