These Terms and Conditions of Use (the “Terms”) describe the terms and conditions under which Ping Pong Global Holdings Limited (“PingPong”) makes available to existing PingPong users and the new users who register PingPong account during the PingPong The Leaders Program Terms and Conditions period (as defined below).

The Leaders Program 2023 is a way in which we reward and thank our loyal customers for using our service. You are able to reach Program loyalty tiers by loading an eligible amount of Total Payments Volume (TPV) to your PingPong account. Once you reach a certain loyalty tier you may be eligible for certain benefits and rewards applicable to that tier, which benefits may change from time to time and may be offered on a limited basis. The Program is exclusively reserved to PingPong account holders who have activated their PingPong account and completed Know Your Customer (“KYC”) procedure. By logging in with their PingPong account to register for the Service, a user (“You” and “Your” in these Terms) expressly acknowledges and accepts to be bound by these terms. The terms constitute a contract between You and PingPong (hereinafter: “we” or “us” in these Terms) and apply to Your use of PingPong account during the promotion offer period. These Terms replace any previous version You may have received or have in Your possession.

You acknowledge that you have read, agree with and accept all the terms and conditions contained in the Terms for the PingPong The Leaders Program 2023 Terms and Conditions. You agree that any use by You of the Service shall constitute your acceptance of the Terms. We may revise these Terms at any time by posting an updated version on our website. The revised version will be effective at the time we post it.

What is the period of PingPong The Leaders Program 2023 Terms and Conditions?

The offer is valid for the transactions during the period from Jan. 1st, 2023 to Dec. 31st, 2023 (“Program Period”). At the end of each year, all accounts will be reset to zero and start a whole new journey with PingPong.

For which currency accounts this program is valid?

This offer is valid for the USD, GBP, EURO, JPY, CAD & AUD, MXN, AED and other currencies supported by PingPong. The relevant foreign exchange rate shall be determined by PingPong according to the exchange rate on the day of each transaction.

What is the detailed scheme of this Program?

The sellers who meet 1 out of 2 requirements of each tier (specified in the table below) during the Program Period will be eligible for the reward of the qualified tier.

PingPong is entitled to modify the program at any time at its sole discretion and reserves the right of final interpretation of this program.

PingPong will count the TPV of each account from the beginning of the year and automatically update status (Rising Star, Shark or Top 1% Club) on the dashboard right after launching.

Terms and Conditions of Prize offered:

A. Terms

a. PingPong will publish the detailed prizes and bonus of this Program from time to time at PingPong’s sole discretion.

b. Each prize is unique for the Volume category. Each registered user is eligible only for 01 Volume category. No other volume categories will be combined for one user.

c. We shall make reasonable efforts to provide the benefits and bonus but do not guarantee that the same brand will be provided by us. In case of any change, we will make reasonable efforts to provide the benefit with same value. Under no circumstance, the decision belong to PingPong.

Communication:

a. In case you have any questions regarding the Program or these Rules, you can contact us via email at vnsupport@pingpongx.com.

b. The decision made by us will be final and binding with respect to the The Leaders Program, and no correspondence, objection, complaints, etc. will be entertained in this regard.

Notification

a. We will notify clients within 30 days from the end of the Program Period (based on PingPong internal records and volume tracking as detailed), by email, the email address or phone number designated in the user’s PingPong account. Shortly following the announcement, we will send the corresponding rewards to the qualified clients according to records available.

b. Clients authorize the posting of his/her name and picture on PingPong’s Facebook page, PingPong website, PingPong blog, and on any other medium that PingPong deems appropriate, except where prohibited by law.

c. We may, at our sole discretion, disqualify any potential clients, if one of the circumstances occurs:

(1) Qualified client fails to respond to the first attempted notification within five (5) working days (“Response Time”),

(2) any attempted notification is returned as undeliverable, or

(3) qualified clients fail to provide any required additional information or documents requested by us.

Disbursement of Prizes

a. Prize will be delivered to qualified clients within 30 days kể từ ngày thông báo tặng quà from the end date of the Program Period. (If any)

b. The bonus will be subject to availability at the time of disbursement. In case of non-availability of mentioned Prize, the similar item with similar price will be given to qualified clients to choose.

c. PingPong will not be liable for any loss, damage, theft, or other misplacement of the prizes once dispatched to your registered address.

d. For abroad trip prize, the trip will only be taken place in case of having at least 5 qualified clients (Top 1%)

Insurance

a. Qualified clients will bear all charges on account of registration, insurance, or any other government levies in relation to the program.

b. Qualified clients shall also bear any compliance, and third-party claims that may arise from the prize offered.

Taxes

a. Qualified clients are solely responsible for any applicable and unspecified expenses in conjunction with acceptance/use of a prize, including federal, provincial, state and local taxes including withholding tax, goods and service Tax or any other taxes applicable directly or indirectly) now or hereafter levied or imposed by the government authority resulting from this Program. All federal, state/provincial and/or local income and other taxes, if any, are qualified clients’ sole responsibility. All qualified clients are responsible for providing PingPong with all documents and information necessary for PingPong to comply with any applicable tax laws, and failure to do so within five (5) days of PingPong’s first request for these may result in disqualification.

b. Qualified clients shall also be responsible for any other compliance that may arise from the prize offered.

Additional Rules

a. Quality/performance of prizes offered are as per the warranty provided by the manufacturer of the product and we cannot be held responsible for the same. We provide the product on the basis of “as it” and you shall contact the manufacturer of the product directly instead of PingPong.

b. By participating in the Program, you hereby irrevocably and unconditionally consent to the terms and conditions of this program.

c. The Required Volume will be calculated by us within 30 days from the end of the Program Period, based on our internal records. You agree to accept PingPong’s decision as final and binding and all bonuses will be based on the Minimum Volume as recorded by PingPong.

d. If it comes to the notice of PingPong that any governmental, statutory or regulatory compliances or approvals are required for conducting the Program or if it comes to the notice of PingPong that conduct of the Program or any part of it is prohibited, then PingPong may withdraw and / or cancel such Program without prior notice to you. You agree not to make any claim in respect of such cancellation or withdrawal of the Program in any manner.

e. PingPong may, at its sole and absolute discretion, disqualify any participant from the Program if such participant engages in or is found to be engaged in any illegal, unlawful or improper conduct (with regard to any of the Program or otherwise).

f. PingPong reserves the right to withhold or forfeit the benefits of the Program (including any bonus earned) in the event that it determines or reasonably believes that participant has violated these Rules or the standard Terms and Conditions of PingPong.

g. PingPong reserves the right to change, modify or withdraw the Program and/or change these Rules without any prior notice of the same, at its sole discretion.

h. PingPong does not make any commitment, express or implied, to respond to any feedback, suggestion and/or queries of the Eligible Customers.

i. The failure of PingPong to exercise or enforce any right or provision of these Program Terms and Conditions shall not constitute a waiver of such right or provision.

j. PingPong will interpret these rules and resolve any disputes, conflicting claims or ambiguities concerning the rules or the promotion offer, and PingPong‘s decisions concerning such disputes shall be final. If the conduct or outcome of the promotion offer is affected by human error, or by any mechanical, technical, electronic, communications, telephone, computer, hardware or software errors, malfunctions or failures of any kind, intentional interference or any event beyond the control of PingPong, PingPong reserves the right to terminate this promotion offer, or make such other decisions regarding the outcome as PingPong deems appropriate. All decisions will be made by PingPong and are final and binding in all respects.

k. Participation in the promotion is only available to residents of Vietnam and the companies registered in Vietnam.

l. All information submitted in connection with this Program will be treated in accordance with these Rules and PingPong Privacy Policy.

m. The sellers need to continue using PingPong until 31 December, 2023.

n. PingPong can extend the duration of the offer at any time and at its sole discretion.

Waiver of Liability and Agreement to Indemnify

By participating in the Program, each participant, its, his, her or their heirs, successors and assigns thereof releases, discharges and covenants not to make a claim against PingPong, its subsidiaries and affiliates, licensees, employees, officers, directors, representatives, successors and assigns related in any way to the Program or the receipt or use of any bonus.

Disputes

This Term and Conditions is governed by Hong Kong. Any dispute, controversy, difference or claim arising out of or relating to this Agreement, including the existence, validity, interpretation, performance, breach or termination thereof or any dispute regarding non-contractual obligations arising out of or relating to it shall be referred to and finally resolved by arbitration administered by the Hong Kong International Arbitration Centre ("HKIAC") under the HKIAC Administered Arbitration Rules in force when the Notice of Arbitration is submitted.

Force Majeure

PingPong shall not be liable for any delay or failure to perform resulting from causes outside its reasonable control, including but not limited to any failure to perform due to unforeseen circumstances or cause beyond PingPong’s control such as acts of God, war, terrorism, riots, embargoes, acts of civil or military authorities, fire, floods, accidents, network infrastructure failures, strikes, or shortages of transportation facilities, fuel, energy, labor or materials.