Terms of Service
SHAOMACAO NETWORK FZC
Registered Address: Meydan Grandstand, 6th Floor, Meydan Road, Nad Al Sheba 1, Dubai, UAE
P.O. Box: 95195, Dubai, United Arab Emirates
Email: askme@shaomacao.com
Phone: +971585171200
1. Legal Status and Agency Model (Agency Agreement)
1.1. SHAOMACAO NETWORK FZC (a Free Zone Company registered in the United Arab Emirates) operates as an aggregator Platform providing Users with a software interface for posting advertisements regarding mutual cash currency exchange (Peer-to-Peer, P2P).
1.2. Agency Clause: SHAOMACAO NETWORK FZC acts solely as an information intermediary (agent). The Company is not a party to any monetary transfers, does not accept or hold User funds, and is not a payment agent.
1.3. The Platform merely connects potential counterparties by providing them with each other's contact details for the purpose of independently conducting the transaction.
2. Scope of Platform Liability
2.1. The Company shall not be held liable for:
- Failure or improper performance by either party of their monetary obligations;
- Delays caused by banking or payment systems;
- Losses arising from the User providing incorrect payment details;
- Exchange rate fluctuations occurring at the time of the actual transfer of funds.
3. Paid Services (Fees)
3.1. The Platform charges a commission for listing advertisements (posting) and/or for revealing contact information of verified counterparties.
3.2. The commission amount is fixed and displayed to the User prior to order confirmation. The paid commission is a fee for using the electronic platform and is non-refundable.
4. User Liability (Peer-to-Peer)
4.1. All responsibility for compliance with currency, tax, and other applicable legislation, as well as for the fulfillment of agreements regarding the amount, timing, and exchange rate, lies solely with the Users (both seller and buyer).
4.2. SHAOMACAO NETWORK FZC does not guarantee the execution of the transaction and does not act as a guarantor or surety.
5. Dispute Resolution
5.1. All disputes between Users concerning the actual transaction shall be resolved through direct negotiations between them.
5.2. In the event of a disagreement, the dispute shall be submitted to the competent judicial authorities in accordance with the laws of the country in whose territory the actual banking transaction (transfer of funds between User accounts) took place.
5.3. The Platform does not intervene in disputes between Users and does not accept claims regarding the quality of performance of obligations.
6. Amendments
6.1. The Company reserves the right to amend these Terms at any time. Users will be notified of material changes via the Platform or email. Continued use of the Platform constitutes acceptance of the updated Terms.
7. Governing Law
7.1. These Terms shall be governed by and construed in accordance with the laws of the United Arab Emirates, without regard to its conflict of law provisions.
Official Company Details
Full Legal Name: SHAOMACAO NETWORK FZC
Legal Form: Free Zone Company (Limited Liability)
Jurisdiction: United Arab Emirates, Dubai
Registered Address: Meydan Grandstand, 6th Floor, Meydan Road, Nad Al Sheba 1, Dubai, United Arab Emirates
Mailing Address: P.O. Box 95195, Dubai, United Arab Emirates
Banking Details:
- Bank Name: First Abu Dhabi Bank PJSC
- Account Holder: SHAOMACAO NETWORK FZC
- Account Type: Current Account
- Account Number: 2621005920023002
- IBAN: AE610352621005920023002
- SWIFT/BIC: NBADAEAAXXX