Terms of use.

Version 2.2 | 7 October 2026

1. About these Terms

These Terms of Use govern access to the website, applications, Accounts, transaction interfaces and related services of CoArt Market, operated by CoArt UAB (UAB „CoArt“), a Lithuanian private limited liability company, company code 305222036, registered at Perkūnkiemio g. 13-9, LT-01114 Vilnius, Lithuania (hereinafter "CoArt", "we", "us" or "our").

"CoArt Market" or the "Marketplace" means the digital interface and the trade name used by CoArt. By the nature of its business, CoArt Market is a marketplace, that is, an intermediary platform on which Users sell and buy Objects; CoArt Market's legal entity is the Lithuanian company CoArt UAB. CoArt Market does not itself sell or buy Objects.

"FracTown Platform" means the technological infrastructure for listing Objects, recording contractual evidence, maintaining FCC records, writing provenance entries to a blockchain, API connections and related functions. None of these names denotes a separate contracting party unless a particular agreement expressly names the registered legal entity.

By creating an Account or using the Marketplace, the User agrees to these Terms. A particular purchase or sale is additionally governed by the signed Transaction Agreement and the Object Specification (Schedule 2 to the Transaction Agreement). In respect of a particular transaction, the signed Transaction Agreement and its Schedules prevail over these Terms, and these Terms prevail over the Seller Declaration.

2. Definitions

Account means the profile of a User and the authentication means associated with it.

User means the natural person to whom an Account belongs.

Object (goods) means a physical work of art, collector's item, piece of jewellery, historical object or other movable property listed on the Marketplace. CoArt Market may refuse to list an Object in case of doubt or where it does not fit the concept of the Marketplace.

Unique Object means an Object of world or local cultural significance, possessing a unique history and artistic characteristics, at present held in private or corporate ownership — outside publicly accessible museum and exhibition spaces.

Return of Unique Objects to public cultural circulation means an all-or-nothing collective purchase of a particular Unique Object, approved by CoArt, for the purpose of transferring that Object for display in museum or specialised exhibition spaces, without transferring ownership of the Object to those spaces.

Co-ownership of Unique Objects returned to public cultural circulation reflects the voluntary contribution of each participant in the collective purchase towards acquiring the Unique Object from its private or corporate owner in order to place it in museum or exhibition display.

Share in the co-ownership of a Unique Object means joint ownership of an undivided part of the physical Object, arising under a signed agreement and applicable property law.

FCC (Fractional Crypto Certificate) means a technical record used solely to identify an Object, verify the integrity of associated data, link to approved evidence, and record anonymised provenance or transfer events. The FCC is not in itself a contract of sale, a document of title, a guarantee of authenticity, a financial instrument, a security, a means of payment, an investment product, or proof that every legal formality of a transfer of ownership has been completed — whether of the whole Object or, in the case of a Unique Object, of any undivided part of it.

FCC Fraction means a technical unit of record linked to an FCC and used as a pointer to the corresponding share in co-ownership only where that share has arisen under a signed agreement and a Closing Statement. An FCC Fraction does not of itself create a property right and is not a financial instrument.

Seller means the person identified in the relevant Seller Declaration or Transaction Agreement as the lawful owner of the Object, or of shares in it, and as the party disposing of it. On a sale of a whole Object, the Seller is a natural person selling their own Object as a private person, outside any business activity — the User who gave the Seller Declaration, or a third party for whom that User acts as Representative (clause 3).

Manager means the trusted person appointed under the Co-ownership Agreement to administer a limited range of common matters, without acquiring or controlling the shares of other co-owners, in cases of co-ownership of Unique Objects returned to public cultural circulation.

Transaction Agreement means the particular agreement of sale, acquisition, gift or other agreement signed by the relevant parties.

Closing means the completion of the conditions of the relevant Transaction Agreement, including payment, execution of the documents on the transfer of ownership or co-ownership, and the necessary handover of the Object or confirmation of its acceptance into custody.

Closing Statement means the document in which CoArt records Closing under the Transaction Agreement: the fulfilment of its conditions, the date of Closing and the transfer of ownership.

Buyer means a User acquiring an Object on the Marketplace, or a third party for whom a User acquires it as Representative (clause 3).

Representative means a User who, under a power of attorney, sells or buys an Object on behalf of a third party who is a natural person.

Logistics Partner means the carrier that the Buyer chooses at checkout, from among those offered on the Marketplace, to deliver the Object and to insure it for the period of delivery.

Accredited CoArt Market Logistics Centre means a custodian accredited by CoArt Market to accept Objects into custody.

Identification Data means the images and other materials by which an Object can be recognised again (images of characteristic areas, a high-resolution image of the whole Object, a 3D model and other methods, according to the kind of Object), marked by CoArt as identification data and stored in the Object's container on Arweave.

3. Eligibility and classification of Users

A User must be at least 18 years of age and have legal capacity and full capacity to act.

Sales of whole Objects on the Marketplace are concluded only between natural persons; legal entities are not parties to such sales.

A User may sell and buy Objects on their own behalf or on behalf of a third party — a natural person only — as that person's Representative under a power of attorney. When putting an Object up for sale or at checkout, the User states on whose behalf they act; on a sale or purchase on behalf of a third party, that person's surname, name and date of birth are entered in the Transaction Agreement as those of the Seller or the Buyer, and the User gives them in their legally correct form. The Representative confirms that they hold the power of attorney and is responsible for its validity and for the accuracy of the information about the person represented; a Seller's Representative provides the power of attorney to CoArt before the Transaction Agreement is signed, and a Buyer's Representative at CoArt's request. For CoArt, the seller or the buyer remains the User themselves: the User pays for the purchase, or receives the payment for the Object sold into their own account, and declares themselves a private person in their own Seller Declaration; the User's settlement with the person represented is not CoArt's concern. Sales and purchases on behalf of a legal entity are not permitted.

The Seller sells their own Object as a private person, and this is confirmed in the Seller Declaration; at checkout, the Marketplace informs the Buyer that the Seller is a private person. The right of withdrawal that EU consumer protection law grants in contracts with a trader does not apply to a contract between two private persons. The status declared by the User must be recorded when a transaction is concluded, and mandatory rights that cannot lawfully be waived are preserved.

CoArt may restrict a Listing, a Campaign, a country, a payment method, and payment or a service itself, to verified Users or other legally permitted persons. Participation is prohibited where it would contravene sanctions, export controls, AML rules or other applicable law.

4. Account security and blockchain credentials

Users must keep their credentials and any private blockchain keys secure, where such keys have been handed to them. The key-custody model applicable to an Account is disclosed in these Terms, which the User accepts at registration: at the launch stage, the keys of Users' Symbol accounts are held by CoArt Market; handing control of those accounts to Users is the next step of scaling. Rights pass under the signed documents and Closing; the blockchain record is technical evidence, so who signs it does not affect the legal validity of a transaction.

CoArt may not use a signing key controlled by a User without that User's valid authorisation or outside an expressly agreed recovery procedure. Once control of the accounts has been handed to Users, CoArt's holding of a key for recovering access to multisignature accounts of the FracTown Platform will not enable CoArt to transfer an Object or a package of FCC Fractions on its own, where the configured multisignature rules require a further independent signature.

Loss of credentials or of a private key must be reported without delay. Recovery depends on identity verification, on the disclosed multisignature scheme and on the applicable recovery procedure. CoArt does not guarantee recovery where the legal or technical conditions cannot be met.

5. Marketplace services

CoArt may provide listing tools, Object pages, electronic generation of documents, integration with payment providers, coordination of verification, digital identification records, creation of FCCs, provenance records, means of communication and post-Closing support.

CoArt's role depends on the transaction mode. On a sale of a whole Object, CoArt ordinarily facilitates a direct sale between Seller and Buyer, and its fee in that case is 10%, unless otherwise established for a particular transaction. On a collective purchase, CoArt may additionally receive 3% in the co-ownership, accept the powers of Manager and administer the agreed common matters.

CoArt is not the Seller unless the relevant Transaction Agreement expressly provides otherwise. Operating the Marketplace does not of itself make CoArt a museum, a bank, a payment institution, an investment adviser, a broker, a custodian of client funds or an insurer.

6. Sale of a whole Object

On a sale of a whole Object, ownership of the entire physical Object passes under a separate agreement for the sale of the whole Object. The Seller is responsible for title, authority, disclosure of provenance and condition, and for the other representations contained in that agreement. The Seller bears full responsibility for the accuracy of the information about the Object, including for fraud and intentional misrepresentation; CoArt is not liable for such acts of the Seller.

At the same time, a Buyer acquiring the Object "as is" understands clearly which data will be available to them, once the Object is in their hands, for comparison against the data held in the storage of the corresponding FCC, so as to check that the Object delivered to them is that very Object (clause 27).

Confirmation of payment, handover, passing of risk and transfer of ownership take place in accordance with the Transaction Agreement and applicable law. The transfer of the FCC or the updating of the register takes place after legal Closing and serves as evidence of a recorded event; it does not replace the agreement.

The Seller hands the Object over to the Logistics Partner — for delivery to the Buyer or, where the Buyer has chosen custody, to an Accredited CoArt Market Logistics Centre — or delivers it to such a centre in person, within 72 (seventy-two) hours from the moment the payment received the status "PAYMENT_HELD" (clause 25). Only a CoArt administrator may extend that period, and only at the request of both the Seller and the Buyer made before it ends, including where the handover requires an export permit or other documents (clause 12); each extension, the first and any further one, is of at most 10 (ten) calendar days, counted from the administrator's confirmation. If the Object has not been handed over within the period, as extended, the transaction is cancelled automatically and everything the Buyer paid is refunded to the Buyer; while a request made in time awaits the administrator's answer, the transaction is not cancelled.

Users may also sell and buy Objects outside the Marketplace; CoArt neither restricts nor controls such transactions. If an Object is sold outside the Marketplace or otherwise ceases to be available, the Seller withdraws it from sale on the Marketplace without delay, and CoArt may remove such an Object from the showrooms.

7. Collective purchase for museum display

Such a Campaign is conducted only after CoArt has published the special Campaign Terms and the mandatory legal documents for the particular Object.

Unless those documents provide otherwise, a Campaign operates on an all-or-nothing basis and has as its purpose the collective acquisition of the Object for its subsequent transfer to an agreed museum for safekeeping and display.

Before Closing, a participant holds contractual rights under the agreement for the acquisition of a share in co-ownership, but is not yet an owner of the Object. On a successful Closing, the Seller transfers 97% of the ideal shares to the participating Buyers, in proportion to the shares they have acquired, and 3% to CoArt as disclosed non-monetary consideration for fractionalisation and management.

Each participating Buyer becomes a legal Co-owner at Closing itself and accedes to the Co-ownership Agreement. Ownership rights operate in respect of management, information, costs, insurance payments and the proceeds of any disposal. At the initial stage of the development and scaling of the Marketplace, free transfer and secondary trading of such shares in the ownership of Unique Objects through the Marketplace are restricted.

A museum accepting the Object for display receives possession only, under the relevant museum loan or safekeeping agreement, and does not become its owner.

8. No secondary market at the initial stage

At the initial stage of development and scaling, CoArt does not operate an order book, a matching mechanism or a general secondary market in Shares in co-ownership. FCC Fractions may be technically non-transferable or restricted by agreement.

Permitted transfers may include inheritance, enforcement of a court judgment, a transfer approved under the Co-ownership Agreement, or another transfer required by law. The technical ability to send a package of FCC Fractions to another user does not establish the validity of a transfer of the legal share associated with it.

No future liquidity, market admission, increase in value, sale of the Object, approval by a United States regulator, or migration to a future FracTown C Corporation structure as the future principal legal entity of the project, is promised.

Any future migration requires separate documents, legal approval and the consent of the Co-owner of the particular FCC Fractions, unless mandatory law provides otherwise.

9. Object information and verification

Information about an Object may come from Sellers, experts, museums, open sources or service providers. CoArt may coordinate verification but does not guarantee the completeness or correctness of every statement.

CoArt is not released from liability for its own fraud, wilful misconduct or gross negligence, or for obligations that cannot be excluded by law. The Seller remains responsible for their own representations and warranties.

Before signing, the Buyer must examine the Object Specification, the Seller Declaration, the information on condition and provenance, the available expert materials and the risk disclosures.

10. Payments, Campaign funds, fees and taxes

Payments are processed by disclosed third-party providers. The payment provider opens a showroom owner's account as an individual's account, under the provider's own terms, which the showroom owner accepts in their own agreement with the provider. Where the showroom owner has opened such an account, the price the Buyer pays is credited to that account — the Seller's or, on a sale through a Representative, the Representative's — and frozen there; it cannot be paid out before Closing. CoArt's fee is deducted from the payment when the payment is made and is returned with the price if the sale is cancelled before Closing. After Closing, the payment provider pays the price less CoArt's fee to the showroom owner — the Seller or, on a sale through a Representative, the Representative — to the bank account the showroom owner gave the payment provider or, with PayPal, into the showroom owner's PayPal account; of the price, CoArt keeps only its fee. On physical delivery, the Buyer pays for delivery and for insurance for the period of delivery at checkout, together with the price, as one line in which the two amounts of the Logistics Partner the Buyer chose — the cost of delivery and the cost of insurance — are combined; CoArt receives this amount and passes it on to that Logistics Partner. Save as the next paragraph provides, CoArt does not hold client funds as a bank or a payment institution.

Where the showroom owner has not opened an account with the payment provider, the Buyer pays in the same way, and the price is received on CoArt's own account with the payment provider and held there; it cannot be paid out before Closing. CoArt retains its fee from it, and the price is returned to the Buyer in full if the sale is cancelled before Closing. After Closing, CoArt pays the price less its fee to the showroom owner — the Seller or, on a sale through a Representative, the Representative: where the Buyer paid by card and the showroom owner has by then opened an account with the payment provider that processed the card payment, by a transfer to that account, from which the payment provider pays it out to the bank account the showroom owner gave it; otherwise to the PayPal account whose e-mail address the showroom owner has given CoArt or, where none is given, by bank transfer to the account the showroom owner gives CoArt for that payment. Of the price, CoArt keeps only its fee. A showroom owner may open an account with the payment provider at any time; a sale concluded after that is paid as the previous paragraph provides.

In an all-or-nothing Campaign, funds remain conditional upon the fulfilment of the Closing conditions. If a Campaign does not proceed, the payment provider or another authorised holder returns the funds in accordance with the Campaign Terms, less only those amounts that are permitted by law and were disclosed in advance.

All fees, CoArt's 3% non-monetary share, taxes, delivery, insurance, verification costs and reserves are disclosed before signing. Each User is responsible for the taxes imposed on them, subject to CoArt's own withholding or reporting obligations.

11. Identification, AML, sanctions and reporting

Before granting access or before Closing, CoArt may request information on identity, beneficial ownership, source of funds, commercial status and sanctions. Thresholds may apply to a single transaction or to linked transactions.

CoArt may delay, refuse, technically freeze within lawful limits, or report a transaction where required by law or by a competent authority. CoArt is not obliged to disclose a suspicious activity report where disclosure is prohibited by law.

Sellers and Buyers must provide the information required for tax and platform reporting, including DAC7 where applicable. Verification by a payment provider does not necessarily discharge CoArt's own obligations.

12. Cultural property, import and export

Users must comply with the law on cultural property, customs, import, export, materials of endangered species, sanctions and stolen property. Listing an Object, or making payment, does not guarantee the issue of an export licence or acceptance by a museum.

The Transaction Agreement must allocate responsibility for permits, carriage, customs, the risk of seizure, and return where a mandatory permit is refused.

13. The FCC, the Symbol register and Arweave records

All cryptographic means applied by CoArt — including the FCC, the technical fractionalisation of FCC records, hashes, timestamps and the provenance ledger — are used exclusively as infrastructure for storing, identifying, verifying the integrity of, and subsequently confirming data about Objects, and for the anonymised recording of transfers of rights for the convenience of Users. They are not intended for payment, investment, raising capital, or the independent circulation of property rights.

Neither an FCC, nor an FCC Fraction, nor an entry in the provenance ledger is a financial instrument, a security, electronic money, a means of payment, a deposit, a derivative or an independent object of investment. On a collective purchase, a share in the common co-ownership of the physical Object arises exclusively from the signed agreements, the applicable property law and Closing; the technical fractionalisation of the FCC merely reflects a distribution already established by agreement and does not of itself create, transfer or extinguish a right of ownership.

Public records must contain only data approved for public disclosure. Personal data, confidential provenance information and the full text of agreements are not placed in public fields of the register merely because the technology permits it.

CoArt may create hashes, identifiers, timestamps and links to approved records. A hash may confirm integrity, but it does not prove the truth of the underlying statement.

Where an error is discovered, immutable historical data is not altered covertly. CoArt must publish a correction or a replacement record linked to the previous version, subject to data protection law and technical feasibility.

After an FCC has been created, new records may be added to the certificate: approved documents, photographs of the Object and Identification Data. Each record is permanent, refers to the previous one and states who added the material; what was recorded earlier is not changed.

14. Electronic conclusion of agreements and records

The parties may express consent by an electronic signature, by ticking a field together with an authenticated action in the Account, by a one-time code, by a qualified signature, or by another method permitted by the relevant Transaction Agreement.

CoArt records the version of the document, the time, the Account, the evidence of signature and the hash of the agreement. An electronic document may not be denied legal effect solely because of its electronic form, provided the mandatory formal requirements are met.

The signature of a blockchain transaction (in the Symbol network, for the FCC and the provenance ledger) is a technical operation and is not an electronic signature of an agreement; it evidences a recorded event.

15. Intellectual property and permitted use

The software, layouts, trade names and documentation of the platform belong to CoArt or to its licensors. Users are granted a limited, revocable right to use them for lawful participation in the activity of the Marketplace.

The Seller's authority must extend to the display of the images, descriptions and approved materials they have supplied, for the purposes of listing, of maintaining the provenance history, of the archive, and of coordination with a museum, including the making of lighter copies for display on the website, the conversion of file formats, and the permanent storage of approved materials in the certificate's records on the Arweave network, from which they cannot be deleted. Copyright in a work of art does not pass automatically together with ownership of the physical object, unless the Transaction Agreement provides for its transfer.

16. Suspension and termination

CoArt may suspend an Account on account of a security threat, inaccurate information, sanctions risk, non-payment, unlawful content or material breach. Where lawful and practicable, CoArt states the reason and provides a channel for review.

Termination of an Account does not extinguish completed ownership rights, payment obligations that have arisen, signed Transaction Agreements, or access to records that must be retained by law. CoArt must provide an owner with a reasonable means of obtaining the principal documents of ownership.

17. Risks

Users acknowledge the risks of disputes as to authenticity, defects in title, restitution claims, physical damage, insurance exclusions, illiquidity, storage costs, changes in the law, technological failure, loss of keys, termination of a museum agreement, uncertainty of valuation, and the absence of a future sale.

A collective purchase is not offered as a deposit, a guaranteed investment or a promise of profit. The value of an Object may fall, and costs may exceed income. Transfer or division of ownership may prove difficult.

Subject to clauses 9 and 18, Users understand that CoArt bears no liability whatsoever for the authenticity of items, that CoArt is not a guarantor of authenticity, that the Buyer acknowledges the risks of verifying authenticity, and that responsibility rests with the Seller and with the Buyer; the Seller is liable for the Seller's own fraud. This condition is the essence of CoArt, and where a Buyer or a Seller does not accept it, CoArt does not make the sale and purchase of items through the CoArt platform available to them.

18. Liability

Each party remains liable for fraud, wilful misconduct, gross negligence, death or personal injury where applicable, breach of confidentiality or of data protection duties, and for any liability that cannot be excluded by law.

Subject to the preceding paragraph and to the relevant Transaction Agreement, CoArt is not liable for indirect or consequential loss that could not reasonably have been foreseen, for the failure of an independent provider outside CoArt's reasonable control, or for loss caused by a User's breach or by insecure keeping of credentials.

CoArt's aggregate contractual liability for Marketplace services in connection with a transaction may be limited to the greater of the fees paid to CoArt in respect of that transaction and EUR 5,000, unless the particular agreement provides otherwise. The limitation does not apply where it is prohibited by mandatory law.

19. Indemnity for third-party claims

A User indemnifies CoArt against third-party claims caused by that User's material breach, by a false Seller Declaration, by an unlawful Object, or by an infringement of rights or of sanctions, but only to the extent of that User's liability. CoArt notifies the User and provides a reasonable opportunity to participate in the defence.

A Buyer accepts no indemnity obligation beyond the limits permitted by mandatory law.

20. Complaints and disputes

A User may submit a complaint to contact@coart.market. CoArt acknowledges receipt and replies on the merits within 30 days from its receipt. Before going to court in a dispute with CoArt, the User submits such a complaint; if the dispute is not settled within 30 days from its receipt, the parties may go to court. This does not limit the Buyer's right to apply to a court or to a body for the out-of-court resolution of disputes.

These Terms are governed by the law of the Republic of Lithuania, and the courts of the Republic of Lithuania are competent, unless a particular agreement validly provides otherwise.

Where the claims of a Buyer and a Seller against each other go beyond the procedure established by these Terms, the parties to the particular transaction may apply to the courts of the relevant jurisdiction.

21. Amendment of these Terms

CoArt may amend these Terms prospectively for reasons of security, law, technology or service. The User is notified of each amendment by email and in the Account at least 30 days before the date on which it takes effect, except where immediate amendment is required by law or by urgent security. An amendment is deemed accepted by the User unless CoArt has received the User's rejection before that date. A User who does not agree with an amendment may, before that date, give notice of rejection and close their Account free of charge; transactions begun before that date are completed under the version in force when they began.

An update does not retrospectively alter ownership, economic rights, fees or management rights arising from a signed Transaction Agreement, without the valid consent of the party affected.

22. Notices, assignment and successors

Notices may be given through the Account and to the confirmed email address, except where the law or a particular agreement requires another means.

CoArt may assign its rights in the operation of the platform to an affiliate or a successor only where that person assumes the corresponding duties and existing ownership rights are not materially diminished. The powers of the Manager may be transferred only under the Co-ownership Agreement for Unique Objects.

23. Severability, waiver and language

If a provision is invalid, it is limited to the minimum extent necessary and the remaining provisions continue in effect. Failure to exercise a right does not constitute a waiver of it.

The English text prevails, unless the agreement for a particular Object names another governing language. Translations are provided for convenience unless expressly provided otherwise.

24. Effective date and replacement of the previous version

These Terms take effect upon publication on https://coart.market/.

From that date they replace the previous CoArt Marketplace Terms of Use (version 1.0) for future use and future transactions. Completed transactions are governed by the documents in force at the time of their completion, unless all affected parties have lawfully agreed to move to the new version.

25. Mechanics of the sale of a whole Object

The purchase of a whole Object is not completed merely because a payment provider has reported a successful payment. The payment first receives the provider-neutral status "PAYMENT_HELD", or its exact functional equivalent, and the Object receives the status "RESERVED" and becomes unavailable for competing purchases. If the Seller does not hand the Object over within the period in clause 6, the transaction is cancelled automatically and the payment is refunded to the Buyer (clause 6).

On physical delivery, the Buyer has 48 hours after confirmed delivery to accept the Object or to raise a claim under clause 27. If no claim is raised within that period, "DEEMED_ACCEPTANCE" occurs, to the extent permitted by mandatory law, and Closing follows. Ownership, the payout to the showroom owner and the updating of the Ownership Register and of the FCC/Ledger occur only at Closing under the Transaction Documents. CoArt's fee is deducted from the payment when the payment is made and is returned with the price if the sale is cancelled before Closing (clause 10).

At checkout, the Buyer may choose custody in an Accredited CoArt Market Logistics Centre instead of delivery. Closing then requires a comparison of the Object with its Identification Data and the FCC, a condition check by that centre and confirmation that it holds the Object for the Buyer. The custody fee and the insurance for the period of custody are calculated according to the value of the Object and are set by a separate agreement between the User and CoArt on the acceptance of the Object into custody. The Buyer may later request physical delivery after paying the accrued custody, packing, carriage and insurance for the period of delivery.

The Seller pays CoArt the disclosed fee of 10% of the Purchase Price of the whole Object, unless otherwise established for a particular transaction, plus VAT where applicable. On physical delivery, the Buyer pays for delivery and for insurance for the period of delivery at checkout, together with the price, as one line in which the two amounts of the Logistics Partner the Buyer chose — the cost of delivery and the cost of insurance — are combined; CoArt receives this amount and passes it on to that Logistics Partner. All costs borne by the Buyer — including delivery, insurance for the period of delivery or of custody, custody, and special handling of Objects where required — must be shown to the Buyer before the terms of the transaction are accepted.

26. Technical records and disclosure of the key-custody model

The FCC is technical evidence linked to an Object. Rights are created or transferred on the basis of signed legal documents and a legally effective act of transfer.

The FracTown Provenance Ledger is a user-facing provenance record implemented in the Symbol blockchain network.

The Arweave Evidence Container is permanent storage for evidence and must not contain private keys, seed phrases or unnecessary personal data.

The key-custody profile in force is described in clause 4. The approved transitional target scheme towards which CoArt Market is moving is: (Holder AND CoArt) OR (CoArt AND FracTown Recovery), subject to a verified implementation in the Symbol network.

A local Marketplace connected by API does not receive the platform recovery key merely by virtue of operating such a Marketplace.

27. Purchase of an Object "as is" and claims

Every Object on the Marketplace is unique. The Buyer acquires the Object "as is", on the basis of the documents and the gallery files of the Object published on the Marketplace.

After delivery is confirmed, CoArt gives the Buyer access to the Object's Identification Data, stored in its container on Arweave, which is linked to the FCC, so that the Buyer can personally compare the Object received from the Logistics Partner with them; the Buyer has 48 hours for this. The comparison confirms one thing only: that the Buyer has received the Object that was shown in the Seller's showroom. CoArt does not confirm the authenticity of the Object with regard to statements about its historical provenance; this is outside CoArt's competence.

Within 48 hours after confirmed delivery (clause 25), CoArt accepts a claim from the Buyer on one ground only: that the Object delivered is not the Object shown in the showroom on the Marketplace.

Such a claim is verified by an identification comparison carried out by CoArt Market: the Buyer sends images of the Object taken according to CoArt Market's instructions, and CoArt Market compares them with the Object's Identification Data. The methods of comparison (macro images, an image of the whole Object, a 3D model and others, according to the kind of Object) are applied where they are available for the particular Object. The conclusion is drawn by a CoArt specialist, who may be assisted by software. Until the comparison on a claim is complete, the period for acceptance is suspended.

If the data match, there are no grounds for returning the Object to the Seller or the money to the Buyer, and Closing follows. If the data do not match, the sale is cancelled: the price and the charges for delivery and for insurance for the period of delivery are refunded to the Buyer, and the Object is returned to the Seller through the Logistics Partner under the rules that logistics companies apply to claims, with packing and insurance for the period of the return carriage. These costs are borne by the Seller; CoArt may require the Seller to reimburse them.

Damage to the Object during delivery is an insured event under the insurance for the period of delivery that the Logistics Partner offers and the Buyer pays for within the delivery line (clause 10). If the damage occurred through the fault of the logistics company, the sale is cancelled, the price of the Object is refunded to the Buyer, and the Seller receives the insurance compensation from the logistics company.

Because Objects are sold by private persons, the right of withdrawal that EU consumer protection law grants in contracts with a trader does not apply to such transactions. Grounds for returning an Object and the money other than those stated in this clause are not considered through CoArt; this does not limit those rights of the parties that cannot lawfully be waived.

Identification Data are stored in the Object's container on Arweave in encrypted form; the encryption key is held by CoArt. Erasure of such data under data protection law is carried out by destroying the key: the encrypted files remain on the Arweave network, but they can no longer be read. The photographs on the Object's page are lighter copies for display on the website; they are not Identification Data.

28. Offers on an Object

A User may send the owner of an Object an offer of one of two kinds: an offer to buy the whole Object at a stated price, or a proposal of another kind (for example, a photo shoot with the Object, its showing at an exhibition, or a loan). The period for which an offer stands and the period for its payment are stated on the Marketplace.

The owner may accept or decline an offer of either kind, and may answer an offer to buy with a counter-price. No one else, including an employee of CoArt, may accept an offer of either kind on the owner's behalf.

Acceptance of an offer to buy reserves the Object for the author of the offer, for payment through the Marketplace within the stated period. No more than one accepted offer to buy may stand for an Object at any one time; accepting one closes the others with the status "Sold to another buyer". If an accepted offer is not paid within the period, the acceptance lapses, and the ability to make offers to buy may be suspended for a time.

A proposal of another kind is an arrangement between its author and the owner, to which CoArt is not a party: any amounts in such a proposal are information between the parties; CoArt accepts, holds and pays out nothing under it and receives no fee from it. CoArt's fee is charged only on the purchase and sale of an Object through the Marketplace's payment mechanism.

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