Sinbad — Terms of Service

Sinbad Tech Inc.
Last modified: August 9, 2026

These Terms of Service (the "Terms") are a binding agreement between you and Sinbad Tech Inc. ("Sinbad", "we", "us", "our") governing your use of the Sinbad websites, mobile applications and related services (the "Platform").

By creating an account or using the Platform, you agree to these Terms and to our Privacy Policy, which forms part of this agreement.

Section 17 sets out how disputes between you and Sinbad are resolved, including provisions on arbitration and class proceedings.

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1. What Sinbad Is

1.1 A peer-to-peer marketplace. Sinbad operates a marketplace on which users trade supported digital assets directly with one another. Sinbad is not a party to any trade.

1.2 Self-custodial. Private keys are generated on your device and held only by you. Sinbad cannot access, move, freeze or recover the digital assets in your wallet, and holds no key capable of doing so.

1.3 No fiat handling. Sinbad does not receive, hold, transmit or settle fiat currency. When you agree a trade, you pay or receive local currency directly from your counterparty using the payment method stated in the offer. Sinbad is not a party to that payment and holds no fiat balance for you.

1.4 Escrow. When a trade is created, the digital asset is placed in an escrow contract. It is released either to the buyer or returned to the seller, only on the conditions in section 6. Sinbad does not hold the escrowed asset, holds no key to the escrow contract, and cannot vary its terms once deployed.

1.5 What Sinbad provides. The interface and order book; identity verification of users; transaction and wallet screening; and access to the independent dispute process described in section 7.

1.6 Account and wallet are distinct. Your wallet holds your keys and your digital assets. It is yours. Sinbad cannot access, move or freeze it, and nothing we do to your account changes that.

Your account is your identity record and profile with Sinbad. We control it, and may suspend or close it under section 15 — for example where we are required to by law. If we do, your digital assets remain in your wallet, under your control, and you keep your keys.

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2. Eligibility

2.1 You must be at least 18 years old and legally capable of entering into this agreement.

2.2 Restricted Jurisdictions. You may not use the Platform if you are resident in, located in, or acting on behalf of any person in a jurisdiction subject to comprehensive sanctions administered by the United Nations, the United States, Canada, the United Kingdom or the European Union. Jurisdictions currently in this category include Cuba, Iran, North Korea, and the Crimea, Donetsk and Luhansk regions of Ukraine. This is not an exhaustive list, and it changes as sanctions programmes change.

We may also restrict or refuse access from any jurisdiction where we do not hold the authorisations required to operate, where we are unable to meet our compliance obligations, or where we otherwise determine that access presents unacceptable risk. Restrictions may be applied or changed at any time without notice.

2.3 You must not be listed on, owned or controlled by any person listed on, any sanctions list administered by the United Nations, the United States (including OFAC), Canada, the United Kingdom or the European Union.

2.4 You must not attempt to circumvent any access restriction, including by masking your IP address, using a VPN to misrepresent your location, or providing inaccurate information about your residence.

2.5 You may hold one account only. Duplicate accounts may be closed.

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3. Your Account

3.1 Registration and verification. To open an account you must provide the information described in the Privacy Policy, including your full legal name, date of birth, contact details, address and government-issued identity documents. Business accounts additionally require incorporation documents and details of beneficial owners.

3.2 Ongoing verification. We may require further information or documents at any time, including in relation to a specific trade, the source of your funds, or your relationship to a counterparty. We may use third-party identity verification and screening providers. If you do not provide what we reasonably request, we may suspend or close your account.

3.3 Verification applies to all users. All users must complete identity verification before using the Platform to trade, send or receive digital assets. Verification applies regardless of transaction size or type. Sinbad does not operate tiered access, and does not offer reduced or waived verification for smaller transactions.

3.4 Accuracy. You confirm that all information you provide is true, accurate and current, and you will update it promptly if it changes.

3.5 Security. You are responsible for the security of your account credentials, your device, and your wallet keys and recovery phrase. Sinbad does not hold a copy of your keys or recovery phrase and cannot restore them. If you lose your recovery phrase, you will permanently lose access to the assets in your wallet. Back up your recovery phrase independently.

3.6 Instructions. Instructions submitted from your account are signed by your wallet on your device. Sinbad transmits them; Sinbad cannot originate, alter or execute them. You are responsible for all activity conducted through your account and wallet, and we are entitled to treat any instruction validly signed by your keys as authorised by you.

3.7 Unauthorised access. Notify us immediately at support@getsinbad.com if you believe your account has been accessed without your authorisation.

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4. Screening and Risk Controls

4.1 We screen users, counterparties and wallet addresses against sanctions lists, politically-exposed-person data, adverse media and blockchain analytics.

4.2 Where screening identifies elevated risk associated with an incoming or outgoing transfer, we may require enhanced verification, including evidence of the source of the funds, before the transfer proceeds or before you may continue trading.

4.3 Where risk cannot be cleared, we may decline to support the transfer, restrict your account, or require that assets be transferred to an external wallet you control that is not itself subject to elevated risk.

4.4 Where we are required by law to report or freeze, we will comply. Where the law prohibits us from telling you that a report has been made, we will not do so, and we may decline to explain a restriction or closure.

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5. Trading

5.1 Offers. Users post offers to buy or sell supported digital assets, stating the asset, rate, limits, accepted payment methods and any additional trade instructions. By accepting an offer you agree to the terms stated in it, except where those terms conflict with these Terms, are unlawful, or are unreasonable.

5.2 Read the offer. It is your responsibility to read and follow the offer terms exactly. If you pay without following them, your position in a dispute will be weaker.

5.3 Payment in your own name. All fiat payments must be made from, and received into, an account held in the registered name of the paying or receiving party. Payments to or from third parties are prohibited and will be resolved against the party responsible in any dispute.

5.4 Off-platform trading is prohibited. You must not exchange contact details for the purpose of trading outside the Platform, complete any part of a Platform trade off-platform, advertise external services, or solicit any user to transact outside Sinbad. Trades conducted off-platform receive no escrow protection and no dispute process, and off-platform solicitation may result in immediate account closure.

5.5 Communications stay on-platform. All trade communications must take place through Platform chat. Evidence not in the trade record generally cannot be considered in a dispute.

5.6 Cancellations. You may cancel before payment is marked as sent. Once payment is marked as sent, the trade may only be completed or disputed. Exceeding the Cancellation Threshold set out in Schedule 2 will result in a temporary suspension of your ability to open new trades, for the period stated in that Schedule.

5.7 Irreversibility. Blockchain transactions are irreversible. Neither Sinbad nor any arbitrator can reverse a completed transfer or recover assets once released.

5.8 Accuracy of addresses. You are responsible for the accuracy of any external wallet address and network you use. Assets sent to an incorrect address, or on an unsupported network, may be permanently lost. Sinbad has no obligation to attempt recovery.

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6. Escrow and Release Conditions

6.1 Each trade deploys an escrow contract funded by the seller's wallet.

6.2 The escrowed asset is released only on one of the following conditions:

(a) the buyer marks payment sent and the seller confirms receipt — the contract releases to the buyer;
(b) the buyer does not mark payment sent within the payment window — the contract returns the asset to the seller;
(c) both parties agree to cancel — the contract returns the asset to the seller;
(d) a dispute is resolved under section 7 — the contract executes that outcome.

6.3 These conditions are enforced by the contract. Sinbad cannot release, redirect or withhold an escrowed asset outside them.

6.4 Release only against confirmed payment. Sellers must verify that payment has been fully received and cleared before confirming receipt. Sinbad is not responsible for a seller's loss where the seller confirms receipt prematurely.

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7. Disputes Between Users

7.1 Independent arbitration. Disputes are decided by independent arbitrators, not by Sinbad. Sinbad holds no key to the escrow contract, cannot release or redirect escrowed assets, and takes no part in deciding the outcome. Sinbad's role is limited to operating the interface through which a dispute is filed and evidence is submitted.

7.2 Raising a dispute. Either party may open a dispute once payment has been marked as sent, and within the Dispute Window set out in Schedule 2. Trades that were cancelled, expired without payment being marked, already resolved, or completed by release generally cannot be disputed.

7.3 Evidence. Arbitrators decide against the evidence: proof of payment, payment-method confirmations, Platform messages, timestamps and on-chain records. The party asserting that fiat payment was made bears the burden of producing evidence of it. Arbitrators may request further evidence within a stated period; failure to respond within that period may result in the dispute being decided against you.

7.4 Two outcomes only. A decision produces one of the two outcomes available under the escrow contract: release to the buyer, or return to the seller. No third outcome exists. No arbitrator can direct escrowed assets to any other address, take a share of them, or alter the amount.

7.5 Criteria — resolution in favour of the buyer. A dispute will generally be resolved by release to the buyer where one or more of the following is established:

(a) the buyer made payment in full, in accordance with the offer terms and the payment instructions given at the time the trade was opened, and has provided evidence of it;
(b) the seller has not responded to an arbitrator's request within the stated period;
(c) the seller required a step or condition not stated in the offer at the time the buyer accepted it;
(d) the seller provided payment details that differ from those stated in the offer, or that are not in the seller's registered name.

7.6 Criteria — resolution in favour of the seller. A dispute will generally be resolved by return to the seller where one or more of the following is established:

(a) the buyer did not pay, paid only in part, or paid otherwise than in accordance with the offer terms and payment instructions;
(b) the payment has been reversed, charged back, held, frozen or stopped by the payment provider;
(c) the buyer has not responded to an arbitrator's request within the stated period;
(d) payment was made from an account not held in the buyer's registered name, or by a third party.

7.7 Falsified evidence. Where a party submits falsified documents, fabricated proof of payment or knowingly false statements, the dispute will be resolved against that party and the account may be suspended or closed.

7.8 Timing. Arbitrators aim to decide within the Decision Target set out in Schedule 2, measured from receipt of a complete dispute submission. Complex matters may take longer.

7.9 Appeal. You may appeal a decision by notifying us at support@getsinbad.com within the Appeal Window set out in Schedule 2, identifying specifically how you believe the criteria in sections 7.5 to 7.7 were misapplied and providing supporting evidence. Appeals are determined within the Appeal Determination Period set out in Schedule 2, by an arbitrator other than the one who made the original decision. The decision on appeal is final.

7.10 Payment-method remedies are separate. The dispute process is separate from any remedy available to you through your payment provider. Sinbad is not obliged to initiate or handle chargebacks and is not liable where a party reverses or disputes a payment through their payment provider, including after a dispute has closed.

7.11 Release of Sinbad. If you have a dispute with another user, you release Sinbad and its officers, directors, employees and agents from all claims and damages arising out of or connected with that dispute.

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8. Fees

8.1 Applicable fees are displayed in the app before you confirm a trade.

8.2 Network fees. Sinbad does not currently charge network or gas fees for depositing or withdrawing digital assets, or for sending them between Sinbad users. If we introduce network fees in future, they will be displayed before you confirm the relevant transaction.

8.3 We may change our fees. Changes apply only to trades entered into after the change is published.

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9. Taxes

You are solely responsible for determining, reporting and paying any taxes arising from your activity on the Platform. Sinbad does not determine, collect, withhold or remit tax on your behalf.

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10. Prohibited Use

You must not use the Platform for, or in connection with, any of the following.

10.1 Unlawful activity and financial crime

(a) any unlawful purpose, or any transaction involving the proceeds of unlawful activity;
(b) money laundering, terrorist financing, or the financing of proliferation;
(c) breaching or evading any sanctions programme, or transacting with or for the benefit of any sanctioned person, entity or jurisdiction;
(d) fraud, deception, phishing, social engineering, or any scheme designed to deprive another person of money or assets;
(e) extortion, ransomware, blackmail, or the receipt or transfer of proceeds from such activity;
(f) transacting in stolen funds or assets, or assets you know or suspect to be derived from theft, hacking or unauthorised access;
(g) trade in illegal goods or services, including controlled substances, weapons, stolen data or credentials, or any material involving the exploitation of children;
(h) human trafficking, forced labour, or any activity involving exploitation of persons;
(i) transactions connected to darknet marketplaces, or the use of mixing or tumbling services to obscure the origin of assets;
(j) tax evasion, or evasion of reporting or disclosure obligations;
(k) operating an unlicensed money transmission, exchange or payment business through the Platform;
(l) gambling or lottery activity where prohibited in your jurisdiction;
(m) any activity requiring a licence or registration you do not hold.

10.2 Platform integrity

(a) trading off-platform, exchanging contact details for that purpose, or advertising external services (section 5.4);
(b) impersonating any person, using a false identity, or submitting false, altered or misleading information, documents or evidence, including in a dispute;
(c) operating more than one account, or operating an account on behalf of another person, or acting as an intermediary or broker for a third party except as expressly permitted under the Merchant Terms;
(d) selling, renting, sharing, lending or transferring your account;
(e) structuring or splitting transactions to evade monitoring, reporting or review;
(f) circumventing any security control, verification requirement, geographic restriction or other limitation, including by masking your location;
(g) manipulating ratings or reputation, including by trading with yourself or a connected person, or by offering inducements for feedback;
(h) posting offers you do not intend to honour, or manipulating displayed rates;
(i) scraping, reverse-engineering, decompiling or interfering with the Platform, introducing malicious code, or accessing the Platform by automated means other than through an interface we provide;
(j) any action that could damage, disable, overburden or impair the Platform, or interfere with another user's use of it.

10.3 Conduct

(a) harassing, threatening, defaming, stalking or abusing another user or our staff;
(b) using discriminatory, hateful or obscene language in offer terms, trade chat, disputes or correspondence with us;
(c) requesting identity documents, selfies, proof of address or other personal information from another user — verification is performed by Sinbad, and no user carries out verification of another;
(d) publishing, sharing or storing another user's personal information beyond what the Platform provides for completing a trade;
(e) making unreasonable or repetitive demands on our staff.

You must not assist, induce or enable any other person to do any of the above.

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11. No Advice

Sinbad does not provide investment, financial, tax or legal advice, does not assess the suitability of any transaction for you, and does not take account of your objectives, circumstances or risk tolerance. All decisions to buy, sell or hold digital assets are your own.

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12. Risk

You acknowledge that digital assets are volatile and may lose value; that blockchain networks may experience congestion, forks, delays or failures outside our control; that transactions are irreversible; that counterparties may fail to perform; and that loss of your recovery phrase results in permanent loss of your assets.

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13. Disclaimers

The Platform is provided "as is" and "as available", without warranty of any kind, express, implied or statutory, including warranties of title, merchantability, fitness for a particular purpose and non-infringement. We do not warrant that access will be uninterrupted, timely, secure or error-free, or that defects will be corrected.

We do not own or control the underlying blockchain protocols and assume no responsibility for their operation, security or availability.

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14. Limitation of Liability

14.1 To the maximum extent permitted by law, Sinbad and its affiliates, officers, directors, employees and agents will not be liable for lost profits, loss of business or opportunity, loss or corruption of data, or any indirect, incidental, special or consequential damages, whether in contract, tort or otherwise.

14.2 Without limiting section 14.1, Sinbad is not liable for: loss of your private keys or recovery phrase; the acts or omissions of your counterparty; a payment that is reversed, charged back, held or frozen by a payment provider; assets sent to an incorrect address or on an unsupported network; price movement in any digital asset; or delay, congestion, fork or failure of any blockchain network.

14.3 Nothing in these Terms limits liability for fraud, gross negligence, wilful misconduct, or any liability that cannot be limited by law. Some jurisdictions do not permit these limitations, in which case they apply only to the extent permitted.

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15. Suspension, Restriction and Termination

15.1 By you. You may close your account at any time by contacting support@getsinbad.com. Closing your account does not affect the digital assets in your wallet — they remain under your control and you retain your keys.

15.2 By us. We may suspend, restrict or close your account, with or without notice, if:

(a) we are required to by law, a regulator, a court order or binding order of a government authority;
(b) you breach these Terms or we reasonably suspect you may;
(c) screening or monitoring identifies unacceptable risk;
(d) we reasonably suspect fraud, impersonation or illegal activity;
(e) your account is subject to an investigation or legal process.

15.3 Notice. We will try to notify you, unless prohibited by law or where notice would prejudice an investigation. You acknowledge that our decisions may rest on confidential risk criteria we are not obliged to disclose.

Suspending, restricting or closing your account does not affect the digital assets in your wallet. They remain under your control, you keep your keys, and you can transfer them at any time. Sinbad holds no key capable of freezing them.

15.4 Records. Closing your account does not delete records we are required to keep. Our retention obligations are described in section 8 of the Privacy Policy and continue for the full statutory period regardless of account status.

15.5 Survival. The following survive termination: record retention and regulatory reporting; intellectual property; limitation of liability; indemnity; release; governing law and dispute resolution; and any provision that by its nature is intended to survive.

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16. Indemnity

You will indemnify Sinbad and its affiliates, officers, directors, employees and agents against any claim, demand, loss, cost or expense (including reasonable legal fees and any fine or penalty imposed by a regulator) arising out of your breach of these Terms, your violation of any law or regulation, or your infringement of the rights of any third party.

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17. Governing Law and Dispute Resolution

17.1 Notice. This section affects how disputes between you and Sinbad are resolved. It provides that most disputes are resolved by arbitration on an individual basis rather than in court, and that claims may not be brought as part of a class or representative proceeding. Some of these provisions do not apply where the law of your place of residence does not permit them.

17.2 Governing law. These Terms are governed by the laws of the Province of Ontario and the federal laws of Canada applicable in it, without regard to conflict-of-laws rules.

17.3 Direct resolution. Before commencing arbitration, you agree to contact us at support@getsinbad.com and attempt to resolve the matter directly for a period of 30 days.

17.4 Arbitration. Any dispute between you and Sinbad arising out of or relating to these Terms or the Platform that is not resolved under section 17.3 will be finally settled by binding arbitration on an individual basis, seated in Ontario, Canada, conducted in English before a single arbitrator. The arbitration will be conducted in accordance with the arbitration legislation applicable in Ontario and otherwise in accordance with such procedure as the arbitrator determines.

17.5 Carve-outs. Either party may seek injunctive or equitable relief in a court of competent jurisdiction to protect intellectual property or confidential information. You may bring an individual claim in small claims court where it qualifies.

17.6 Class action and jury waiver. To the extent permitted by law, all claims will be brought only on an individual basis and not as a plaintiff or class member in any class, collective or representative proceeding. The arbitrator may not consolidate claims. You and Sinbad each waive any right to trial by jury.

17.7 Local law. Nothing in this section removes any right you have under the consumer protection law of your place of residence that cannot be waived by agreement. Where such law applies, that law prevails over this section to the extent of the conflict.

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18. Intellectual Property

The Platform and all content, software, trademarks and other materials in it are owned by or licensed to Sinbad Tech Inc. You are granted a limited, non-exclusive, non-transferable, revocable licence to use the Platform for its intended purpose. You may not copy, modify, distribute, sell, licence, reverse-engineer or create derivative works from any part of it, or use our name or logo, without our prior written consent.

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19. Your Content

You retain ownership of content you submit. You grant Sinbad a non-exclusive, worldwide, royalty-free licence to use, store, reproduce and display it as necessary to operate the Platform, comply with our legal obligations, and administer disputes. Content containing personal information is handled under the Privacy Policy. You are responsible for the content you submit and must have the right to submit it.

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20. Third-Party Services and Links

The Platform may link to or interoperate with third-party services. We do not control them, do not endorse them, and are not responsible for them. Your use of them is at your own risk and subject to their own terms.

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21. Amendments

We may amend these Terms. Amendments take effect when the revised Terms are published, and the "last modified" date above reflects the current version. We will notify you of material changes by email or in-app notice. Continued use of the Platform after a change is published constitutes acceptance. If you do not agree, you must stop using the Platform and close your account. Prior versions are available on request from support@getsinbad.com.

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22. General

22.1 Severability. If any provision is held unenforceable, the remainder continues in effect and the unenforceable provision is replaced by an enforceable one that best reflects its intent.

22.2 No waiver. Our failure to enforce a provision is not a waiver of it.

22.3 Assignment. You may not assign your rights or obligations without our written consent. We may assign ours in connection with a merger, acquisition or sale of assets.

22.4 No partnership. Nothing in these Terms creates a partnership, joint venture, agency or employment relationship between you and Sinbad.

22.5 No interpretation against drafter. These Terms are construed as if drafted jointly.

22.6 Entire agreement. These Terms, together with the Privacy Policy and (where applicable) the Merchant Terms and Conditions, are the entire agreement between you and Sinbad in relation to their subject matter, and supersede any prior understanding or agreement.

22.7 Apple and Google. These Terms are between you and Sinbad only. Apple and Google are not parties, have no maintenance, support or warranty obligation, and are not responsible for any claim relating to the Platform.

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23. Contact

Sinbad Tech Inc.
compliance@getsinbad.com

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Schedule 1 — Contracting Entity

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Schedule 2 — Operational Values

These values apply across these Terms and the Merchant Terms and Conditions. We may update this Schedule from time to time; the version in effect is the one published at the date shown at the top of this document.