Standard Offer Agreement for Time Tokens

Purpose of the Standard Offer Agreement

1. This document establishes the standard for the use of time tokens within the legal framework of the Montelibero Association.

2. The Standard Offer Agreement may be modified by a decision of the Council of the Association and is applied as the default recommended option.

Time Tokens

3. Personal time tokens are obligations of their creator (the Issuer) to provide work hours for performing tasks that are acceptable to them and required by the token Holder acting as the client.

4. Family time tokens operate under the same principles as personal time tokens but are issued from a family account.

5. Generally accepted ratio is 1 time token = 1 hour of the Issuer’s dedicated work time.

6. The Issuer must maintain up-to-date information about their specialization and preferred types of work through the BSN platform using the "About" tag.

Time Tokens Circulation

7. The price of a time token is determined freely by the market. Token Issuers and Holders may exchange them for any assets by mutual agreement.

8. Time tokens may be freely transferred between the token economy participants.

Time Tokens Redemption

9. The Holder’s transfer of time tokens to the issuance address constitutes their redemption.

10. Upon redemption, the Holder confirms that all work associated with the tokens has been completed and that they have no claims against the Issuer. After redemption, any claims regarding the quality or scope of work are considered void, except for specific warranty cases.

Refusal to Perform Work

11. The Issuer has the right to refuse to perform the work without providing a reason. In such cases, they are obligated to repurchase time tokens at a price no less than 50% of the Issuer’s current primary sale price.

Application of the Standard Offer Agreement

12. The Offer Agreement is valid for all personal and family time tokens with a trust line open at the Montelibero Association account, if the Issuer is an individual or a family, is a verified participant of the Association, and has not created their own Offer Agreement.

13. For legal clarity, it is recommended to indicate the acceptance of this offer in the with a BSN tag containing the hash of the current version. In the absence of such a tag, if there is a conflict of interpretation between Offer Agreements, the later version takes precedence.

14. Holders of time tokens purchased before any changes to the Offer Agreement have the right to demand the application of the older version of the terms for the tokens acquired during its validity period.