Card Net Platform User Agreement (English Version)

Preface

This Agreement clarifies the basic rules of all trading transactions for trading cards on the Card Net Platform (hereinafter referred to as the "Platform"), the rights and obligations of both parties, and dispute resolution mechanisms. Users shall read all terms carefully. Registration or use of Platform services shall be deemed full understanding and unconditional acceptance of all terms of this Agreement.

Chapter 1 General Provisions

1. Validity of Agreement

This Agreement constitutes a legally binding contract between Users and the Platform. The Platform reserves the right to update this Agreement in accordance with applicable laws and operational requirements. Revised terms shall be notified via Platform announcements. Continued use of services constitutes acceptance of the amended terms.

2. Definitions

• Ungraded Cards: Trading cards not graded, authenticated, or encapsulated by third-party professional grading institutions including PSA, BGS, and CGC.
• Graded Cards: Trading cards professionally graded, scored, and sealed by third-party grading institutions recognised by the Platform, including PSA, BGS, and CGC.
• Price Negotiation: An act where a buyer proposes a negotiated price for a product to the seller.
• Bidding (Auction): A trading model where multiple buyers publicly bid for the same product within a specified time period.
• Payment Completed: The moment when the buyer's order is verified through the payment gateway and a valid order number is generated by the system.
• Official Release: Products manufactured and publicly distributed by the intellectual property owner of the trading cards or its officially authorised agents.

Chapter 2 Special Rules for Ungraded Card Transactions

Core Principle: Sold As-Is, No Universal Standard

1. Definition of Product Condition: The condition and state of ungraded cards shall be solely based on the original physical photos uploaded by the seller. The quality of ungraded cards marked on the product is determined by the seller independently, serving only as a reference and not representing the Platform's standard. The Platform also does not enforce any unified condition grading standard (such as the grading standard for graded cards).

2. Seller's Obligations

• Full Disclosure: Must use clear, unedited photos (including at least close-up shots of the front, back, four corners, and edges) to show the entire product. Any known defects (such as creases, fading, stains) must be clearly stated in writing in the description and marked clearly in the photos.
• Shooting and Packaging Specifications: Shooting shall be conducted in an environment with sufficient light and no misleading reflections. When packaging, the shooting function provided by the Platform's APP must be used to record and upload the process. Failure to perform this operation shall be deemed a waiver of relevant dispute rights.
• Logistics Recommendation: The Platform strongly recommends that sellers use the insurance service provided by the logistics platform to reduce risks during transportation. Whether to use the insurance service will be one of the considerations for ruling in future disputes.

3. Buyer's Responsibilities and Risk Bearing

• Purchasing ungraded cards means accepting the "as-is transaction" principle.
• The buyer is responsible for carefully reviewing all product photos and descriptions before making payment.
• Unboxing Inspection Record: When unpacking the received package, the shooting function provided by the Platform's APP must be used to record and upload the process. Failure to perform this operation shall be deemed a waiver of relevant dispute rights.
• Signing and Disputes: Once signed for, it shall be deemed that the product is "substantially consistent" with the description. Unless the buyer can prove that the product has major visible defects not disclosed by the seller and inconsistent with the photos provided by the seller, returns or claims shall not be requested due to subjective differences in the perception of product condition.
• Logistics Fees: All logistics fees (including insurance fees) arising from returns or dispute handling shall be borne by the buyer, who shall pay by cash on delivery. The refund will be returned through the original payment method within 48 hours after the seller confirms receipt of the returned product/completes the logistics process.
• Refund Cooling-Off Period: After the payment process is completed, the buyer enjoys a 2-hour refund cooling-off period. If a refund is needed, the buyer may notify the Platform within the cooling-off period, and the Platform will arrange the refund after deducting 15% of the Platform service fee and the seller's compensation fee. This clause does not apply to products under the auction (bidding) model.

Chapter 3 Special Rules for Graded Card Transactions

Core Principle: Grading Report is the Final Standard

1. Definition of Product Condition: The condition, state, and authenticity of graded cards shall be determined solely and finally by the official grading label (label) and encapsulated slab issued by the grading institution. The photos provided by the seller are for reference only.

2. Seller's Obligations

• Accurate Information: Must accurately fill in the name of the grading institution, grading score, and certification number (such as PSA number), and upload clear photos showing all four sides of the label and the encapsulated slab.
• Guarantee of Authenticity: Guarantee that the graded card is issued by an official grading institution, and the encapsulated slab has not been tampered with, damaged, or replaced.
• Display of Graded Card Number: If the seller displays the grading number of the card in the product, the graded card with the displayed number must be shipped. If the seller is not sure about the number of the graded card to be shipped, do not display the grading number to avoid misleading.

3. Buyer's Responsibilities

• Purchasing a graded card means accepting the grading score and encapsulated state as the subject of the transaction.
• Returns or price negotiation requests due to "dissatisfaction with the grading score" or "believing a higher score should be obtained" are not accepted.

4. Dispute Handling

• Disputes will only be accepted in the following cases: 1) The information on the physical grading label is seriously inconsistent with the description; 2) The encapsulated slab is seriously damaged, affecting preservation; 3) There is conclusive evidence proving that the graded card or label is counterfeit.
• When a dispute arises, the Platform may require both parties to send the product to the grading institution for review or verification, and the fees shall be borne by the liable party.
• Logistics Fees: All logistics fees (including insurance fees) arising from returns or dispute handling shall be borne by the buyer, who shall pay by cash on delivery. The refund will be returned through the original payment method within 48 hours after the seller confirms receipt of the returned product/completes the logistics process.
• Refund Cooling-Off Period: After the payment process is completed, the buyer enjoys a 2-hour refund cooling-off period. If a refund is needed, the buyer may notify the Platform within the cooling-off period, and the Platform will arrange the refund after deducting 15% of the Platform service fee and the seller's compensation fee. This clause does not apply to products under the auction (bidding) model.

Chapter 4 Auction (Bidding) Process Rules

Core Principle: Highest Bidder Wins, Time-Limited

1. Initiation of Bidding

• The seller may set the "bidding" model for the product, and shall set the starting price, required auction points, minimum bid increment, and bidding deadline.
• The bidding deadline is set by the seller (minimum 12 hours, maximum 7 calendar days). Eligible buyers may bid before the deadline.

2. Bidding Rules

• The bid must be equal to or higher than the current highest bid plus the "minimum bid increment."
• Once a bid is submitted, it cannot be withdrawn and shall be deemed a legally binding offer.

3. Bidding Closure and Transaction

• Timed Closure: When the set deadline is reached, the highest bidder wins the bid.
• Extension at the Last Moment: To prevent "sniping," if there is a new valid bid within the last 2 minutes before the bidding deadline, the bidding deadline will be automatically reset to 3 minutes. This process can be repeated indefinitely until no more bids are made.
• Buyer's Obligation: After winning the bid, the system will automatically generate an order, and the buyer must complete the payment within 48 hours; otherwise, it shall be deemed a breach of contract. The Platform will deduct the buyer's auction points, and after deducting the administrative fee, the remaining amount will be given to the seller as compensation.
• Seller's Obligation: After the buyer makes the payment, the seller must ship the product and upload the shipping document for record within 48 hours; otherwise, it shall be deemed a breach of contract. The Platform will deduct the seller's auction points, and after deducting the administrative fee, the remaining amount will be given to the buyer as compensation.

4. Auction Points Rules

• The seller needs to set the required auction points for each auction item (ranging from 200 points to 5000 points). Both buyers and sellers must purchase and pay the corresponding points to the Platform to participate in the auction.
• If the transaction is cancelled due to a breach of contract by one party (the buyer fails to pay on time or the seller fails to ship on time), all the auction points of the defaulting party will be deducted as liquidated damages. After deducting the Platform's administrative fee, the remaining part will be compensated to the non-defaulting party.
• If the transaction is successfully completed or the user fails to win the bid, the relevant auction points will be returned to the user's Platform account.
• Auction points are only used as auction deposits and not for payment or other purposes. All auction points are calculated at a fixed exchange rate of 1 point = 1 Hong Kong Dollar. Users can apply to the Platform to convert points into Hong Kong Dollar refunds at any time, which will be processed on the next working day, with no upper limit (limited to one operation every 24 hours).

Chapter 5 General Transaction Process and Transaction

Rules Core Principle: Priority to Those Who Complete the Payment Process

1. Price Negotiation Mechanism

• The buyer may initiate a price negotiation for the product (if the seller enables this function), and the seller has the right to accept, reject, or counter-offer.
• Important Reminder: A successful price negotiation (i.e., the seller accepts the bid) only means that both parties have reached an agreement on the price, and does not have the effect of reserving or freezing the product. The system will generate a time-limited exclusive payment link for the buyer.

2. Sole Transaction Standard (Applicable to Non-Bidding Models)

• The final ownership of the product is strictly based on the order of the "payment completed" time recorded in the system.
• Even if both the buyer and the seller have reached a price negotiation agreement, if another buyer completes the full payment process earlier, the product will be sold to the buyer who completed the payment.
• The seller must start the product delivery and upload the logistics waybill for verification within 48 hours from the completion of payment; failure to start the delivery process within 48 hours shall be deemed abandonment of the transaction.
• After the completion of the logistics process, the buyer must inspect the product and upload the unboxing video within 48 hours from the receipt of the product; failure to complete this within 48 hours shall be deemed automatic confirmation of receipt.
• Shooting Specifications for Unboxing and Packaging: Shooting shall be conducted in an environment with sufficient light and no misleading reflections. When packaging, the shooting function provided by the Platform's APP must be used to record and upload the process. Failure to perform this operation shall be deemed a waiver of relevant dispute rights.
• Logistics Recommendation: The Platform strongly recommends that sellers use the insurance service provided by the logistics platform to reduce risks during transportation. Whether to use the insurance service will be one of the considerations for ruling in future disputes.
• This rule is an unshakable absolute priority principle, and any form of offline agreement or verbal commitment shall not prevail over this rule.

3. Payment Process: After "Instant Purchase," accepting a price negotiation, or

winning an auction, the user shall complete the payment operation within the specified time. If the payment is not made within the time limit, the order will be automatically closed, the product will be re-released for others to purchase, and may trigger breach of contract penalties.

Chapter 6 Seller's Authenticity Guarantee Liability

Core Principle: Sellers Bear Absolute Authenticity Liability

1. Guarantee Obligation: The seller guarantees and undertakes that all trading cards sold on the Platform are officially authorized and released genuine products, and do not contain any counterfeit, reprinted, or forged cards produced by third parties (commonly known as "pirated cards" or "fan-made cards").
2. Verification and Disclosure: The seller shall ensure that the product has verifiable genuine characteristics (such as official anti-counterfeiting marks, queryable release information). For high-value cards, the Platform may require or provide paid authentication services.
3. Severe Penalties for Violations: Once it is found that the seller sells non-genuine cards, the Platform will take one or more of the following measures: immediately remove all products from the shelves, permanently freeze the account, deduct all auction points, pay multiple compensations to the buyer, and reserve the right to report to law enforcement agencies (such as Hong Kong Customs) and hand over all evidence. The seller shall bear all legal consequences arising therefrom.

Chapter 7 Platform Service Fees

1. Fee Confirmation: The user confirms and agrees that after the completion of the transaction process, the Platform has the right to deduct the corresponding service fee from the transaction amount before releasing the remaining funds to the seller. The specific rate shall be subject to the Platform's announcement or the description on the relevant page.

Chapter 8 Dispute Resolution and Governing Law

1. Platform Ruling: The user agrees that disputes arising from this Agreement or transactions shall be first submitted to the Platform for mediation and ruling. The Platform will make a fair handling based on the terms of this Agreement, transaction records, and existing evidence.

2. Dispute Time Limit: Disputes regarding product condition shall be raised and

evidenced by the buyer within 48 hours after signing for the product; failure to do so within the time limit shall be deemed no objection. 3. Jurisdiction: If the dispute cannot be resolved through the Platform, both parties agree to submit it to the courts of the Hong Kong Special Administrative Region for litigation. The interpretation, validity, and performance of this Agreement shall all be governed by the laws of the Hong Kong Special Administrative Region.

Chapter 9 User Privacy Terms

1. Processing of Personal Data

To provide you with the services of the Card Net Platform, we will collect, use, store, and process your personal data in accordance with the provisions of this Agreement and the Privacy Policy. Such processing activities are mainly based on the performance of the contract between us (such as completing transactions, making payments, and arranging logistics) or our legitimate interests (such as preventing fraud and improving services).

2. Types and Purposes of Collected Data

• Registration and Transaction Data: Including your mobile phone number (for SMS verification and notifications), valid delivery address, and FPS (Fast Payment System) identifier. Such data is necessary for establishing an account, completing identity verification, performing transactions, and conducting fund settlement.
• Transaction Performance Evidence: In accordance with the provisions of Chapters 2 and 3 of this Agreement, you must use the built-in function of the Platform's APP to record the packaging (by the seller) and unboxing (by the buyer) processes of the product and upload the relevant videos. Such video data will serve as key evidence for handling transaction disputes.
• Network and Device Data: We collect your device information and usage behavior through Cookies and similar technologies to ensure service security, optimize Platform functions, and conduct analysis (see Chapter 8 of the Privacy Policy for details).

3. Data Sharing and Disclosure

You explicitly acknowledge and agree that to facilitate the completion of the transaction:

• Data Exchange Between Transaction Parties: Once the buyer's "payment process is completed," the system will automatically provide the buyer with the seller's logistics contact name, mobile phone number, and shipping address, and provide the seller with the buyer's delivery name, mobile phone number, and delivery address. Such data exchange is limited to the purpose of logistics communication for the specific transaction, and neither party may use the other party's data for any irrelevant purposes.
• Third-Party Service Providers: We may provide your data to trusted third- party service providers (such as payment processors, logistics companies, and technical support service providers) to assist us in providing services. Such providers may only process your data for the purpose of providing services to us.

4. Data Security and Retention

We adopt industry-standard technical and organizational measures to protect your personal data. Your personal data will only be retained for the period necessary to achieve the purposes stated in these terms or in accordance with legal requirements. For example, transaction video records are usually retained for 90 days after generation.

5. Your Rights

In accordance with the Hong Kong Personal Data (Privacy) Ordinance, you have the right to request access to and correction of your personal data held by us. You may also object to our use of your data for direct marketing. To exercise any of these rights, please contact us through the contact methods listed in the Privacy Policy.

6. Consent and Policy Updates

Using the Platform's services means that you agree to our processing of your personal data in accordance with these terms and the Privacy Policy. We may revise these terms and the Privacy Policy from time to time, and major changes will be notified through Platform announcements. Your continued use of the services shall be deemed acceptance of the revised terms.

7. Complete Policy

This chapter is an integral part of the Card Net Platform User Agreement. For more detailed explanations on the processing of personal data, including the specific use of Cookies, international data transmission, and complaint channels, please refer to the full text of the Platform's independent Privacy Policy.