Legal & Policies

Privacy Policy

Petroagent ("we", "us", "our") is committed to protecting your personal data. This policy explains what data we collect, why, and how we protect it.

1. Data We Collect

• ›Identity data: full name, date of birth, government-issued ID.
• ›Contact data: email address, phone number, registered address.
• ›Wallet data: Polkadot wallet public address (never private keys).
• ›Transaction data: trade history, document uploads, settlement records.
• ›Technical data: IP address, browser type, device identifiers, cookies.
• ›KYC/AML data: biometric liveness check results, document verification status.

2. How We Use Your Data

• ›To verify your identity and comply with AML/KYC regulations.
• ›To facilitate petroleum trade transactions on the platform.
• ›To communicate account updates, security alerts, and service notices.
• ›To improve platform performance and detect fraudulent activity.
• ›To comply with applicable laws and regulatory obligations.

3. Data Sharing

We do not sell your personal data. We share data only with: (a) accredited KYC/AML third-party providers under data processing agreements; (b) regulatory authorities when legally required; (c) blockchain infrastructure providers (public wallet addresses only).

4. Data Retention

Identity and transaction records are retained for a minimum of 5 years post-account closure in line with AML regulatory requirements. You may request deletion of non-mandatory data via legal@petroagent.io.

5. Your Rights

Under applicable data protection law you have the right to access, rectify, erase (where permitted), restrict processing, and port your data. Submit requests to legal@petroagent.io. We respond within 30 days.

6. Cookies

See our Cookie Policy for full details on how we use cookies and similar tracking technologies.

Terms of Service

By accessing or using Petroagent you agree to be bound by these Terms. If you do not agree, do not use the platform.

1. Eligibility

You must be at least 18 years of age, legally capable of entering into contracts, and not a resident of a jurisdiction where petroleum commodity trading or cryptocurrency activities are prohibited. Corporate accounts must be duly authorised.

2. Account Registration

You are responsible for maintaining the confidentiality of your credentials and wallet private keys. Petroagent will never ask for your private key. You must notify us immediately of any unauthorised access at hello@petroagent.io.

3. Permitted Use

• ›List, buy, and sell verified petroleum products on the platform.
• ›Hold and transfer PAI tokens within the Polkadot ecosystem.
• ›Access AI-powered KYC, market data, and trade verification tools.

4. Prohibited Use

• ›Money laundering, terrorist financing, or sanctions evasion.
• ›Submitting false, forged, or misleading documents.
• ›Market manipulation, spoofing, or wash trading.
• ›Reverse-engineering, scraping, or distributing platform data.
• ›Using the platform on behalf of a sanctioned entity or jurisdiction.

5. Fees

Platform transaction fees are displayed at the time of each trade. Petroagent reserves the right to update fees with 14 days' notice. Blockchain gas fees are paid by the user and are not controlled by Petroagent.

6. Termination

We may suspend or terminate accounts that breach these Terms, fail KYC, or pose a compliance risk, without prior notice. You may close your account at any time subject to completion of any open transactions.

7. Limitation of Liability

To the maximum extent permitted by law, Petroagent's aggregate liability for any claim arising from these Terms shall not exceed the fees paid by you in the 3 months preceding the claim. We are not liable for losses from market volatility, blockchain network failures, or third-party services.

8. Governing Law

These Terms are governed by the laws of the Dubai International Financial Centre (DIFC). Any disputes shall be submitted to the DIFC Courts.

Cookie Policy

We use cookies and similar technologies to operate the platform securely, remember your preferences, and understand how users interact with Petroagent.

1. What Are Cookies

Cookies are small text files stored on your device when you visit our platform. They help us keep you signed in, remember settings, and measure performance.

2. Types of Cookies We Use

3. Managing Cookies

You can control cookies via your browser settings. Disabling essential cookies will prevent login and platform functionality. Analytics cookies can be opted out without affecting core features.

AML / KYC Policy

Petroagent maintains a zero-tolerance stance on money laundering, terrorist financing, and sanctions violations. All users must complete identity verification before trading.

1. KYC Requirements

• ›Government-issued photo ID (passport, national ID, or driving licence).
• ›Proof of address dated within 3 months.
• ›Biometric liveness check via our AI-powered KYC module.
• ›Corporate accounts: certificate of incorporation, beneficial ownership declaration, and director IDs.

2. Enhanced Due Diligence (EDD)

Users identified as Politically Exposed Persons (PEPs), high-risk jurisdictions, or transacting above threshold amounts ($50,000 USD equivalent per transaction) are subject to Enhanced Due Diligence, which may include source-of-funds documentation and senior management approval.

3. Ongoing Monitoring

All transactions are monitored against OFAC, EU, and UN sanctions lists in real time. Suspicious activity is automatically flagged and reviewed by our compliance team. Petroagent reserves the right to freeze accounts and report to relevant financial intelligence units.

4. Prohibited Jurisdictions

Petroagent does not serve users from FATF blacklisted jurisdictions or those subject to comprehensive sanctions (currently including Iran, North Korea, Syria, Cuba, and the Crimea/Donetsk/Luhansk regions). This list is updated as sanctions regimes change.

5. Record Keeping

All KYC documents and transaction records are retained for a minimum of 5 years, or longer if required by applicable law.

Risk Disclaimer

1. Commodity Price Risk

Petroleum prices are subject to geopolitical events, OPEC decisions, macroeconomic conditions, and supply/demand imbalances. Past price performance is not indicative of future results.

2. Blockchain & Smart Contract Risk

Polkadot network outages, parachain governance changes, or smart contract vulnerabilities could result in delays, asset loss, or inability to trade. Petroagent does not guarantee uninterrupted blockchain availability.

3. Liquidity Risk

PAI tokens and listed petroleum products may have limited liquidity at certain times. You may not be able to sell your position at the desired price or time.

4. Regulatory Risk

The regulatory environment for commodity tokenisation and digital assets is evolving. Changes in law or regulation may adversely affect the platform's operations, the value of PAI, or your ability to trade.

5. Counterparty Risk

While Petroagent's multi-step verification reduces counterparty risk, it does not eliminate it. Sellers may fail to deliver, and buyers may fail to pay. Petroagent facilitates — it does not guarantee — transaction completion.

6. No Investment Advice

Nothing on this platform constitutes investment, financial, legal, or tax advice. You should consult qualified professionals before making any trading or investment decisions.

Token Disclaimer

1. Nature of PAI Token

PAI is a Substrate-based utility token on the Polkadot parachain. Its value is derived from petroleum reserve backing and platform trade flows. PAI is not a stablecoin, is not pegged 1:1 to any fiat currency, and its price may fluctuate significantly.

2. Not a Security

Petroagent has structured PAI as a utility token. However, securities classification is jurisdiction-specific and subject to regulatory interpretation. Users are responsible for determining whether PAI constitutes a regulated instrument in their jurisdiction before purchasing.

3. Reserve Backing

The petroleum reserves backing PAI are subject to third-party audit on a quarterly basis. Reserve certificates are published on-chain. Petroagent does not guarantee that reserve valuations will equal or exceed the market price of PAI at any given time.

4. No Guaranteed Returns

PAI does not represent a debt obligation, dividend entitlement, or profit-sharing arrangement. Yield distributed from platform trade flows is variable and may be zero. Holding PAI does not guarantee any return.

5. Restricted Persons

PAI tokens may not be purchased by residents of restricted jurisdictions (see AML/KYC Policy), US Persons (as defined under Regulation S of the US Securities Act), or any person subject to applicable sanctions.

6. Proof of Concept Notice

Petroagent is currently operating as a Proof of Concept. PAI tokens issued during this phase are for testing and demonstration purposes only and carry no real monetary value. All figures displayed on the platform are illustrative.