Conditions of exchanger participation in the monitor

BestChange company is aimed at a long-terms and mutually beneficial cooperation with its partners. We create a comfortable environment for the whole exchange market to work. To organize effective interaction between clients and exchangers, increasing their loyalty, attraction of new clients, as well as to organize consensus on the service BestChange, the current rules of work were formed.

Administration of BestChange has the right in case an exchanger violates the rules of participation in the monitor, switch off the exchanger from the listing on the term from 4 hours. The violation must be eliminated when the exchanger is switched off. In case of repeated violations, the exchanger can be switched off from the listing for longer terms, total refusal from further cooperation is possible.

After an exchanger is listed in BestChange monitor, the administration must follow the following rules:

Transfer accurate up-to-date information to the monitor, set exchange rates at which exchanges are actually done.
1. All costs must be taken into account in the exchange rate:
  - related to the sending of funds from the exchanger, charged from the amount received by the client;
  - related to the sending of funds from the client's side, if payment is accepted using a third-party payment system.
2. Take into account the highest values of the costs associated with the exchange, if costs can vary for the same direction.
3. Cease sending a direction to the monitor if there is no opportunity to transfer the correct rate.
4. Independently and timely set all necessary labels in your export file when appropriate conditions arise.
  The description of labels used in the monitor is available on this page.
5. For each exchange direction set the amount of reserve, as well as a minimal and maximal exchange amount, corresponding to the minimal and maximal amount the exchanger can take in one order.
6. During out-of-office hours, switch off exchange directions working in manual or semi-automatic regime.
7. Transfer to monitor the direction, the exchange in which is carried out directly by the employees of the exchanger or by another person who has a contractual relationship with the exchanger.
  In case of execution of the exchange by third parties, inform the monitor administration about it.
Do not offer pseudo-favorable conditions with the aim of unreasonably reaching the first lines of the rating. It is prohibited to manipulate rates, including:
- systematic unjustified change of the course in the interval of up to 30 minutes for illegally changing your position in the rating;
- changing the rate, systematically associated with the transition of users from listing of our monitoring to the site of the exchanger;
- changing the rate, systematically coinciding with the creation of applications for the site of the exchanger.
Exchange orders, as well as the issuance and receipt of payment details, must be carried out through a dedicated form within the exchanger's information system.
The exchanger's information system may include any software that enables secure exchange operations, for example: a website, a messenger chatbot, a Telegram mini app, a mobile application, a web application, etc.
1. The data obtained when an order is created must allow reliable identification of a user as the person who created and paid for the order.
  It is advised to use an email address as a mandatory identification factor.
2. All sensitive information required to create and process an order must be transmitted and received exclusively through the exchanger's information system.
3. An existing order may be changed only if the modification request has passed multi-factor authentication. It is recommended using the email address obtained in accordance with clause 3.1 as one of the authentication factors.
  Before making any changes, the following steps must be completed:
  - receive a clearly formulated request to change payment details from a client via the account (address) specified in the order;
  - send a confirmation request to the account (address) specified in the order;
  - receive a reply from the client confirming the request.
4. When an order is created, and each time its status changes, a corresponding notification must be sent through the communication channel (account or address) provided by the client during order creation. The notification must contain:
  - the client's payment details that will be used to pay for the order;
  - the client's details for receiving funds from the exchanger;
  - the exchanger's payment details provided for the client to pay for the order;
  - the amount in the payment unit sent by the client;
  - the amount in the payment unit received by the client;
  - the date and time when the unpaid order will expire;
  - the contact details of the exchanger.
Provide on the exchange execution page accurate, up-to-date, and exhaustive information on the conducted exchange, including conditions under which the customer's funds are considered to be received by the exchanger (for cryptocurrencies, it is the number of network confirmations or appearance of the transaction in the network).
1. If an exchanger reserves the right to change the exchange rate of an order after the customer has made a payment, then it must provide the following data on the order creation page:
  - conditions under which the exchange rate may be changed;
  - name of the exchange whose rate is used to calculate the rate for the order.
  If the exchange rate is recalculated, it is necessary to notify the customer before making a payment, according to cl. 3.3, inform them about the refund conditions and offer a refund. Payment within an order whose exchange rate has been recalculated may be made only after receiving the customer's consent.
2. When transferring funds to the client in a currency, different from the currency to be received in the specified exchange direction, specify the exact amount the client will receive at their account after conversion.
3. For currency pairs involving cash transactions, the following exchange terms must be displayed on the order creation page and sent to the client via the communication channel (account or address) specified by them when creating the order:
  - order number;
  - exchange direction;
  - name and amount of the currency to be paid by the customer;
  - payment method used by the customer;
  - conditions under which the funds are considered to be received by the exchanger (for cryptocurrencies, it is the number of network confirmations or appearance of the transaction in the network);
  - conditions under which the exchange rate will be fixed;
  - name of the currency for the customer to receive and its amount as calculated at the time of the order creation;
  - name of the exchange whose exchange rate is used to calculate the amount to be received by the customer;
  - fixed commission of the exchanger charged from the amount paid by the customer;
  - city where cash is transferred;
  - date and time with an indication of the time zone.
4. If for one exchange direction transmitted to the monitor there are several exchange options with different rates or other differing terms on the exchanger's website, the following information must be provided for each option on the order creation page:
  - the exchange rate;
  - all fees and surcharges;
  - order processing time;
  - payout details;
  - any other material terms.
  The wording must be concise and must not allow for multiple interpretations. The information must be presented clearly and prominently, without the use of tooltips or other barely noticeable interface elements, and must not be hidden in checkboxes.
Support the client until the actual receipt of the payment. An exchange is considered as completed only after the funds have been received by the client.
Provide timely communication with counterparties, information platforms, authorities and government agencies.
1. Provide timely reply in a respectful and comprehensive manner:
  - to the complaint of the user who placed a negative review on the exchanger's page in the monitor;
  - to the question of the user submitted via communication channels supported by the exchanger.
2. Provide reasoned replies on public informative platforms (forums, social networks, Q&A services etc.) to users claims within 24 hours after receiving a notification from the monitor's administration or 48 hours from the moment of the claim submission.
Provide substantive reply to the administration of the monitor on the subject matter no later than 24 hours from the time of publication or receiving a request by email.
Not post fake reviews on its page in the monitor (reviews written by people who have not used the service of the exchanger).
Withdraw the client's claim only if the financial obligations to the client are fulfilled in full, or if the regulated exchange period has not yet passed.
Not transfer or disclose personal information received from users to third parties, as well as provide safety of personal data of users verifying their account.
Fulfill all financial obligations in compliance with the exchange performance regulations stated on the exchanger's website. The exchanger's refund commission charged from customers for the orders for which an exchange was not completed must not exceed the actual amount of costs related to the refund.
For operations when cryptocurrencies sent to the client:
- financial obligations are considered fulfilled by the exchanger after the transaction receives a confirmation in the blockchain network;
- the amount of commission for the transaction must ensure the completion of the order in time specified in the exchanger's terms of service.
Inform the administration of the monitor in advance about change of owners or top management, registration or location of the exchanger, contact information as well as other significant changes in exchanger's activity.
It is prohibited to create associations, syndicates, cartels for the purpose of monopolization, preventing other monitor participants from receiving client traffic, reducing the quality of competition between monitoring participants.
The exchange service must compensate the client for documented direct losses arising exactly from the characteristics or parameters of a banking, cryptocurrency, or other transaction executed by the exchanger while fulfilling the client's order (including, but not limited to, AML flagging, the sender being recognized as high-risk, insufficient network fees, etc.), provided that the client has properly complied with the terms of the exchanger. Losses resulting from changes in asset prices, the client's investment decisions, actions taken by the client after receiving the funds, or other circumstances not related to the characteristics of the transaction are not subject to compensation.
1. All cryptocurrency transactions directed to customers must comply with the AML requirements of international regulators such as FATF and OFAC. The use of crypto addresses directly or indirectly related to high-risk or illicit sources is prohibited. Payouts must be executed through:
  - unique (one-time) crypto addresses;
  - crypto addresses classified as low-risk in AML analyzer and blockchain explorer databases;
  - crypto addresses belonging to licensed platforms.
2. It is prohibited to use P2P platforms or processing services through contractors that have not been verified by the exchanger.
  - It is not permitted to use services operating through casinos, betting companies, unlicensed brokers, illegal crypto exchanges, P2P platforms without AML/KYC procedures, or any other shady sources.
  - Bank details used for customer payouts must belong to the exchanger itself, its legally affiliated entities, or be subject to prior verification.