⚠ Draft for legal review — not yet finalised

trustsquare.co

1.1 — Draft (15 May 2026)

For legal review — not yet published

18 April 2026

Republic of South Africa

This draft has been prepared using comparative analysis of Airbnb, Booking.com, Viator, GetYourGuide, Gumtree SA, and Property24 terms, combined with South African statutory requirements (POPIA, ECT Act, CPA, NCA, FICA, FSCA). It must be reviewed by a South African admitted attorney before deployment. Sections marked [COUNSEL REQUIRED] need jurisdiction-specific legal input. Recommended firms: Michalsons (legal tech), Werksmans (commercial law), Hogan Lovells (technology law).

This document incorporates MarketSquare's original draft EULA and closes 18 critical gaps identified through comparative analysis of comparable platforms and South African statutory requirements. The following table summarises all gaps and their treatment in this draft.

The following sections are marked [COUNSEL REQUIRED] throughout the document and must be completed by a South African admitted attorney before publication: jurisdiction choice confirmation; FICA/KYC deferred verification legal justification; NCA applicability if Tuppence purchase is enabled; FSCA virtual asset classification letter; NCC direct marketer registration number; arbitration clause enforceability review; privacy policy drafting; company/operator legal name and registration number insertion.

In this Agreement, the following terms have the meanings assigned to them below:

References to statutes include amendments and subordinate legislation made under them.

The singular includes the plural and vice versa.

Headings are for convenience only and do not affect interpretation.

"Including" and similar expressions are not words of limitation.

References to days mean calendar days unless stated as "business days" (Monday to Friday, excluding South African public holidays).

References to USD are to United States Dollars; references to ZAR or Rand are to South African Rand.

The Platform is operated by TrustSquare (Pty) Ltd (registration number 2026/340128/07, 6 Villa Christiaan, 98 Manie Road, Elarduspark, Pretoria, Gauteng, 0181) and provides an anonymity-first marketplace connecting Buyers and Sellers across multiple categories including real estate, tutoring, services, casual work, Adventures (accommodation and experiences), and Collectors (physical and digital collectibles).

This EULA governs your access to and use of the Platform via mobile applications, web services, APIs, and all related functionality. It must be read together with the Platform's Privacy Policy at trustsquare.co/privacy.

The Platform facilitates connections between Buyers and Sellers. It is not a party to any transaction and does not:

Own, control, or take title to any listing, property, service, or experience offered by Sellers

Represent, employ, or create an agency relationship with Buyers or Sellers

Guarantee the outcome, quality, safety, legality, or suitability of any transaction

Act as a financial intermediary between Users for non-Tuppence transactions

You must read and accept this EULA before your registration is created on the Platform. The acceptance process is as follows:

You receive a Magic Link via email or click a sign-up link on the Platform.

On clicking the link, an EULA acceptance screen is presented as the first step before any registration or listing data is created.

You must tick "I have read and agree to the Terms of Use / EULA and Privacy Policy" and click "Accept and Continue".

The Platform records your acceptance timestamp and EULA version number. This record is stored in the Platform's database and constitutes your binding agreement.

Clicking "Accept and Continue" constitutes your electronic signature on this Agreement per Section 4 of the ECT Act.

The Adventures category involves photo uploads of properties and experiences. The Platform's licence to store, display, and present those photos must be explicitly consented to at the point of intent — not assumed from an email click. Acceptance here also satisfies POPIA's requirement for informed, specific, opt-in consent before personal data is processed.

By accepting this EULA you represent and warrant that:

You are at least 18 years of age;

You have the legal capacity to enter binding agreements under South African law;

You are not subject to sanctions, a court order barring Platform use, or a prohibition on your profession;

If registering on behalf of a legal entity, you have authority to bind that entity;

All information you provide is accurate, complete, and not misleading.

The Platform is built on an anonymity-first model. When you create a Seller account, your identity — name, email, business name, contact details, and exact location — is not revealed to Buyers. Your public profile shows only:

An emoji avatar (randomly assigned)

Your category (e.g. Property, Adventures Accommodation)

Your Trust Score (0–100)

Your suburb or city (general location only)

A certification badge if verified credentials have been approved (see Section 7.3)

No photo. No name. No contact details. No personal identifiers — until both parties complete the bilateral acceptance described in Section 3.2.

A Seller's identity is revealed to a Buyer only when both of the following occur simultaneously:

The Buyer sends the Seller an Introduction request, and

The Seller accepts that Introduction (within the applicable response window).

At the moment of bilateral acceptance, each party is shown the other's full name, email address, phone number, suburb/city, and — for Sellers — any verified professional credentials. Until both parties accept, full anonymity is maintained.

You may not attempt to reveal your identity to the other party before bilateral acceptance. Prohibited actions include:

Including your name, phone number, business name, or contact email in listing text or titles

Linking to external social media profiles that identify you by name

Communicating via off-platform channels before Introduction acceptance

Exception: Professional licence numbers and certification badges may be displayed as part of the credential system (Section 7.4). These are anonymity-neutral: they signal verified quality without revealing personal identity.

South Africa's FICA requires customer identification before a business relationship commences. The Platform interprets "business relationship" as the first Introduction acceptance (i.e. the first transaction), not account creation. This interpretation must be confirmed by legal counsel before publication.

Under this model, full identity verification is deferred as follows:

Before first Introduction acceptance: account requires verified email only. Full identity is not yet required.

After first Introduction acceptance: FICA-compliant identity verification is initiated within 24 hours. This must be completed within 5 business days. If verification fails or is not completed, the Introduction is cancelled. Tuppence already spent remains spent.

After accepting your first Introduction, you will be asked to provide:

A government-issued identity document (South African Smart Card ID, passport, or driver's licence);

Proof of address dated within 3 months (utility bill, bank statement, or lease agreement);

A liveness check (selfie with ID via the Platform's third-party verification partner: [COUNSEL REQUIRED: insert provider]).

Verification is normally completed within 3 business days. Your identity documents are encrypted in transit (TLS 1.3), stored on the Platform's server (Hetzner CPX22, Germany), and accessible only to the Platform's compliance team. Documents are retained for 7 years per FICA requirements and then securely deleted.

Notwithstanding the anonymity principle, the Platform may disclose your identity and account data to the South African Police Service, National Prosecuting Authority, Financial Intelligence Centre, courts, SARS, or FSCA, upon receipt of a lawful court order, administrative demand, or equivalent legal process. You will be notified of any such disclosure within 30 days unless the order prohibits notification.

You are responsible for all activity conducted under your account. You must not share your account credentials with any other person. You must notify the Platform immediately at [email protected] if you suspect unauthorised access to your account.

You are solely responsible for the accuracy, completeness, legality, and currency of your listing content, including all descriptions, prices, photos, availability, and credential claims. The Platform does not verify listing content and makes no representations as to its accuracy.

The Platform reserves the right to:

Remove, hide, or edit any listing that violates this EULA, applicable law, or Platform policies;

Suspend or terminate a Seller's account for repeated or serious violations;

Reorder or prioritise listings in search results based on Trust Score and other ranking factors (see Section 12);

At its discretion, refuse to onboard any prospective Seller.

You may not list content that:

Is false, misleading, deceptive, or fraudulent;

Infringes the intellectual property rights of any third party;

Promotes illegal goods, services, or activities;

Contains obscene, defamatory, hateful, or discriminatory material;

Includes personal contact details in violation of Section 3.3;

Claims professional credentials you do not hold.

The Platform's category system is open-ended. Current and planned categories include Property (Estate Agents), Tutors, Services, Casuals, Adventures Accommodation, Adventures Experiences, and Collectors. New categories may be added at any time with notice to Users. Category strings are read dynamically from the Platform's data and are never hardcoded. Each category may have specific rules, introduction models, and Trust Score mechanics as described in Section 12.

Listings in the Adventures category (Accommodation and Experiences) are strongly encouraged to include high-quality photos. By uploading photos to an Adventures listing you confirm that:

You are the copyright owner of the photos, or have explicit written permission from the copyright holder to use them commercially;

The photos accurately represent the property or experience as of the listing date;

The photos do not contain personally identifiable information that would breach Section 3.3.

All Platform transactions are denominated in Tuppence. 1 Tuppence (1T) = USD $2.00 (fixed). This rate does not change and does not fluctuate with currency markets.

The Tuppence model works as follows:

A Buyer pays 1T when sending an Introduction to a Seller.

If the Seller accepts the Introduction, 1T is credited to the Seller's Tuppence Wallet and both parties' contact details are revealed to each other.

If the Seller declines or does not respond within the applicable window, the Introduction closes. Tuppence spent on the request is consumed and is not refundable. This is the platform’s spam-prevention mechanism.

No further Platform fee applies to any subsequent transaction between Buyer and Seller. All post-Introduction transactions occur independently of the Platform.

Tuppence is subject to the following restrictions:

Non-transferable: Tuppence cannot be transferred between User accounts;

Non-redeemable for cash (current state): Tuppence cannot currently be converted to ZAR or any other currency. [Note: Cash-out functionality may be introduced in future, subject to FSCA compliance and updated terms];

Platform-exclusive: Tuppence has no monetary value outside the Platform and cannot be used on any other platform;

Non-inheritable and non-assignable: Tuppence cannot be inherited or transferred on account closure;

No expiry (current state): Tuppence balances do not expire unless the Platform closes or your account is terminated for breach.

The introduction model differs by category. The Platform reserves the right to update these models with notice:

Adventures Sellers (both Accommodation and Experiences) are exempt from Trust Score penalties for non-response to Introductions. This reflects the legitimate seasonal, capacity, and availability constraints specific to accommodation and experiences operators, and is a deliberate departure from the Tutors/Services Soft Queue model.

The Collectors category (physical and digital collectibles, trading cards, memorabilia, art) is planned but not yet live. The introduction model shown above (Commitment, same as Property) is the recommended model — a rare or unique item should only be offered to one serious Buyer at a time. However, this must be confirmed by the Solar Council before the Collectors category is activated. This EULA entry is a placeholder and will be updated at that time.

You have the right to cancel an Introduction request within 7 calendar days of the request being sent, without reason and without penalty, provided the Seller has not yet accepted the Introduction. To cancel:

Click the "Cancel" link in the Introduction confirmation email, or

Email [email protected] with the subject line "CANCEL: [Introduction ID]" within 7 days.

Tuppence spent on an Introduction request is consumed at the time of request. The Consumer Protection Act s 16 cooling-off right applies to direct marketing transactions only; Tuppence purchases are buyer-initiated and are not subject to a cooling-off refund right. Tuppence is non-refundable under any circumstance.

The Platform offers an optional AI-assisted feature ("AdvertAgent" or equivalent) that allows Sellers to access artificial intelligence support for listing creation, optimisation, and related tasks. AI Feature usage is charged in Tuppence and is governed by the following rules, which are distinct from and independent of the Introduction Tuppence model:

Introduction Tuppence is the Platform's core marketplace fee — it is how the Platform earns revenue. AI Feature Tuppence is different: it is a pass-through cost-recovery mechanism for a real external API expense. The Platform does not profit from AI Feature Tuppence beyond recovering its cost of providing the feature. This distinction matters for how you budget your Platform use and for regulatory classification purposes.

The Platform is not a financial intermediary between Users. Tuppence transactions — whether Introduction Tuppence or AI Feature Tuppence — are not financial products, loans, credit facilities, or investment instruments. Post-Introduction transactions (e.g. a rental payment, a coaching fee, a booking deposit) take place entirely outside the Platform between Buyer and Seller. The Platform has no involvement in, visibility of, or liability for such transactions.

The Platform may temporarily hold or reverse Tuppence transactions to prevent fraud, address system errors, or correct processing anomalies. The Platform will notify affected Users within 48 hours of any hold or reversal and will resolve the matter within 5 business days.

The Platform charges only for the following, which are presented to you before the transaction is confirmed:

Introduction Tuppence: 1T (USD $2) per Introduction request, charged to the Buyer (Section 5.1–5.4);

AI Feature Tuppence: variable Tuppence per AI interaction, charged to Sellers who opt into AI-assisted features via a paid subscription (Section 5.5). Pricing TBD — no charges apply until pricing is published and accepted;

Buyer subscription fees for premium access tiers (see Section 6.2);

Seller AI feature subscription fees, if elected (see Section 5.5);

Any future Tuppence top-up or purchase fees (subject to updated terms and FSCA compliance).

There are no hidden fees, listing fees, commissions, or booking percentages. The Platform earns from Introduction fees and subscriptions only. AI Feature Tuppence is cost-recovery for an external API, not an additional profit margin (see Section 5.5).

Subscription tiers and pricing are preliminary as of April 2026 and will be confirmed before payment processing is activated. Updated terms will be provided.

Tuppence is non-refundable, non-transferable, and non-redeemable for cash, goods or services other than the platform Introduction feature. Spending Tuppence on an Introduction request consumes the Tuppence regardless of the outcome — whether the Seller accepts, declines, ignores, or the account is closed. This is the consideration for the buyer-commitment signal that underpins the Platform’s anti-spam Introduction-gating design. By purchasing Tuppence and submitting an Introduction request, you acknowledge that Tuppence is a service credit, not goods, and is non-refundable.

Tuppence purchases (when enabled) and subscription payments are processed by Paystack (a registered payment service provider in South Africa). By making a payment on the Platform, you agree to Paystack's terms and privacy policy. The Platform is not responsible for payment processing errors, delays, or security incidents attributable to Paystack.

You are solely responsible for determining and remitting all taxes arising from your use of the Platform, including income tax, VAT, and any withholding obligations. The Platform does not withhold or remit taxes on your behalf. You may request a Tuppence transaction history statement for tax purposes by emailing [email protected].

The Platform is registered as a direct marketer with the National Consumer Commission (NCC) (Registration No. [COUNSEL REQUIRED: insert NCC registration number]). Before sending Introduction emails or promotional communications, the Platform checks the NCC opt-out registry. Every Platform email contains an Unsubscribe link. Opt-out requests take effect within 5 business days.

By creating an account you opt in to Introduction notification emails and Platform marketing. You may opt out at any time via your account settings or by emailing [email protected] with the subject "OPT-OUT".

If your category requires professional registration or licensing under South African law, you agree to hold the required licence at the time of listing and keep it valid throughout your use of the Platform. Known licensing requirements include:

At account creation, you attest that you hold all required professional licences and that you are not barred by law from practising your profession. False attestation is grounds for immediate account termination and may give rise to civil or criminal liability. The Platform reserves the right to verify your licence through official registers (e.g. EAAB database).

Sellers in the Adventures category (Accommodation and Experiences) may upload verifiable credentials to earn a Trust Score bonus that increases listing visibility. This mechanism is specific to Adventures and does not apply to other categories without a separate platform decision.

Bonus certification types and indicative Trust Score awards:

The Trust Score bonus values above are indicative and subject to confirmation in the Solar Council Codex. Final values will be published in the Platform's Trust Score policy document before the Adventures category goes live.

To claim a certification bonus:

Upload a photo or PDF of your certificate during Adventures onboarding or from your Seller profile.

The certification is marked Pending Review. The Trust Score bonus is not applied until an administrator has reviewed and approved the certification.

Review is normally completed within 5 business days.

On approval, the bonus is applied to your Trust Score and your listing re-ranks accordingly.

If a certificate expires or is revoked, you must notify the Platform within 5 business days. The Platform may withdraw the bonus and adjust your Trust Score.

Certification badges (e.g. a shield icon with star count or certification abbreviation) are visible on your listing card to Buyers before Introduction acceptance. This is a deliberate exception to the anonymity principle: the badge signals verified quality without revealing your personal identity. Your underlying certificate and personal details are stored by the Platform but are never disclosed to Buyers until bilateral acceptance.

The Platform may use artificial intelligence and machine learning to assess listing quality, detect duplicate listings or potential fraud, provide category recommendations, and surface relevant listings to Buyers. AI features do not make final decisions: the Platform retains override authority, and no AI-generated output is used to permanently penalise a User without human review. You may not use automated tools, bots, or scripts to interact with the Platform.

You retain full copyright ownership of all content you upload to the Platform, including listing photos, videos, descriptions, and other media ("Your Content"). Nothing in this EULA transfers copyright ownership from you to the Platform.

By uploading Your Content to the Platform, you grant the Platform and its affiliates, sub-contractors, and technical service providers a non-exclusive, worldwide, royalty-free, perpetual, irrevocable licence to use Your Content in the following ways across all current and future MarketSquare applications and platform features:

Store, host, cache, and back up Your Content on Platform servers and content delivery networks;

Display and present Your Content on all Platform screens, listing cards, search results, category browsers, Buyer-facing views, and Seller dashboards — across web, mobile, and any future application in the MarketSquare product family;

Technically process Your Content as needed for Platform operation: resizing, cropping, compression, format conversion, thumbnail generation, and watermarking for display optimisation — without material alteration of the substantive content;

Use Your Content within Platform-internal promotional and discovery features, including featured listings, category highlights, onboarding screens, and in-app recommendations shown to Platform Users;

Reproduce and distribute Your Content solely within the Platform ecosystem to facilitate the connection between Buyers and Sellers;

Retain a cached or archived copy of Your Content for legal, compliance, audit, or dispute resolution purposes for up to 7 years after your account is closed, as required by applicable law.

This licence covers everything needed to run, operate, and develop MarketSquare and its apps. It is intentionally broad within the Platform ecosystem. It does not give the Platform any right to use your photos outside that ecosystem — see Section 8.3 for the hard limits.

Notwithstanding the broad licence in Section 8.2, the Platform gives you the following unconditional commitments:

The Platform will never sell, license, or transfer Your Content to any third party as photo stock, stock imagery, or for any independent commercial purpose outside the Platform;

The Platform will never provide Your Content to stock photography agencies, image libraries, data brokers, advertising networks, or any external commercial entity;

The Platform will never use Your Content in external advertising or marketing campaigns — print, digital, social media, or otherwise — without your express prior written consent given separately from this EULA;

The Platform will never create derivative works from Your Content for sale or distribution outside the Platform.

The Platform operates on a marketplace model. Selling or licensing user-uploaded photos to third parties is not part of that model and will never be. If this policy changes in the future, users will be individually notified and fresh consent will be required before any such use.

By uploading any photo, image, video, or other media to the Platform, you make the following legally binding warranties to the Platform on each occasion of upload:

You are the sole and original copyright owner of the uploaded content, OR you hold a valid, written, transferable licence from the copyright owner that expressly authorises you to grant the licence in Section 8.2;

The content does not infringe any copyright, moral right, trade mark, design right, personality right, right of privacy, right of publicity, or any other intellectual property or personal right of any third party anywhere in the world;

You have obtained all necessary consents from any identifiable persons appearing in photos (including model releases where required) and from any property owners whose property is depicted, where such consent is required by applicable law;

The content is not defamatory, obscene, unlawful, threatening, harassing, or otherwise in violation of any applicable law;

Your upload does not violate any confidentiality obligation, court order, or contractual restriction binding on you;

You have the full legal capacity and authority to grant this licence and to make these warranties.

These warranties are given by you each time you upload content. They are ongoing and must remain true for as long as Your Content remains on the Platform. If any warranty becomes false after upload (for example, because a third party asserts copyright), you must notify the Platform immediately at [email protected] and request removal of the affected content.

The Platform accepts no liability for any intellectual property infringement arising from content uploaded by Users. You agree to fully indemnify, defend, and hold harmless the Platform, its directors, officers, employees, agents, and technical service providers from and against all claims, demands, proceedings, losses, damages, costs, and expenses (including reasonable legal fees) arising from or in connection with:

Any claim by a third party that Your Content infringes that party's copyright, trade mark, design right, patent, moral right, right of privacy, right of publicity, or any other intellectual property or proprietary right;

Any claim arising from your failure to obtain required model releases, property releases, or other consents for content depicted in your photos;

Any breach of the warranties in Section 8.4;

Any use by the Platform of Your Content in accordance with the licence granted in Section 8.2 that is subsequently alleged to infringe a third-party right because of your failure to hold the necessary rights at the time of upload;

Any takedown notice, DMCA claim, or equivalent IP enforcement action filed against the Platform as a result of Your Content.

This indemnity obligation survives the termination of your account and this EULA. The Platform reserves the right to assume exclusive control of the defence of any indemnified claim at your cost, in which case you agree to cooperate fully with the Platform's defence.

If you upload a photo that belongs to someone else and that person sues us, you pay — not us. This is the same standard applied by Airbnb, Booking.com, Viator, and every major platform that accepts user-uploaded images. It is fair, standard, and non-negotiable. Upload only photos you own or have written permission to use commercially.

If a third party believes that content on the Platform infringes their intellectual property rights, they may submit a written notice to [email protected] including: a description of the allegedly infringing content and its location on the Platform; evidence of the claimant's ownership of the right allegedly infringed; and a statement that the claimant has a good-faith belief that the use is not authorised. The Platform will:

Acknowledge receipt within 1 business day;

Investigate within 5 business days;

Disable access to content that, on reasonable assessment, appears to infringe a third-party right;

Notify the User who uploaded the content of the takedown and the reason;

Provide the User with an opportunity to submit a counter-notice if they dispute the claim.

The Platform's response to a takedown notice does not constitute an admission of liability. The Platform acts as an intermediary in good faith and its actions are taken in compliance with the ECT Act Section 79 safe harbour provisions.

Adventures listings (Accommodation and Experiences) are photo-intensive by nature. In addition to the warranties in Section 8.4, Sellers listing Adventures content additionally confirm by each upload that:

Photos accurately and honestly represent the accommodation, property, or experience as at the date of upload and have not been digitally manipulated in a way that materially misrepresents what a guest would encounter;

No photo depicts a property or experience that the Seller does not have the right to offer on the Platform;

For accommodation photos: the Seller has the right to permit guests to access and stay in the depicted property;

For experience photos: the photos depict activities that the Seller is qualified and authorised to offer.

If you delete a listing, the associated photos and media are removed from public display within 48 hours. If you delete your account, all publicly visible links to Your Content are removed. Cached content on third-party CDN networks may persist for up to 30 days before expiry.

Content required for legal, compliance, or dispute purposes is retained for up to 7 years after account closure per Section 8.2 and applicable law. This retained content is not accessible to the public or to other Users.

All Platform software, source code, design systems, trade marks, trade names, logos, and proprietary content are the property of the Operator or its licensors and are protected by South African and international intellectual property law. Nothing in this EULA grants you any right to use the Platform's intellectual property other than as strictly necessary to use the Platform in accordance with this EULA. Unauthorised reproduction, reverse-engineering, or commercial use of the Platform's intellectual property is strictly prohibited and may give rise to civil and criminal liability.

The Platform's full Privacy Policy is available at trustsquare.co/privacy [COUNSEL REQUIRED: Privacy Policy must be drafted and published before launch] and is incorporated into this EULA by reference. In the event of any conflict between this EULA and the Privacy Policy regarding personal data matters, the Privacy Policy prevails.

By accepting this EULA, you give informed, specific, opt-in consent (as required by POPIA) to the processing described in Section 9.2. You specifically consent to deferred identity verification as described in Section 3.4. You may withdraw any consent by deleting your account (Section 14.1), subject to legally mandated retention periods.

Active accounts: identity and transaction data retained for account lifetime plus 7 years (FICA requirement);

Deleted accounts: personal data anonymised or deleted within 30 days, except where a legal hold applies;

Certification documents: retained while account is active; deleted on account closure unless a regulatory hold applies;

Usage analytics: 30 days (anonymised at collection);

All data: permanently deleted after applicable retention period expires.

Personal data is disclosed only to:

South African regulatory and law enforcement bodies on lawful demand (SAPS, NPA, FIC, SARS, FSCA, Information Regulator);

Other Users, only after bilateral Introduction acceptance (Section 3.2);

Payment processors (Paystack) for transaction processing, under data processing agreement;

Service providers (Cloudflare R2 for photo storage; email delivery provider) under data processing agreements and POPIA-compliant terms;

The Platform's identity verification partner (Section 3.5) for KYC processing.

Personal data is never sold to third parties.

Platform servers are hosted on Hetzner CPX22, located in Germany (EU). Photo storage uses Cloudflare R2, also EU-based. Both are governed by GDPR, which provides an adequate level of protection recognised under POPIA. Data Processing Agreements are in place with both providers.

You have the following rights under POPIA, exercisable by emailing [email protected]:

Access: request a copy of your personal data in machine-readable format (CSV or JSON);

Correction: update inaccurate data via your profile settings or by contacting support;

Deletion (Right to be Forgotten): request deletion of your account and data within 30 days, subject to legal holds;

Object: opt out of marketing communications, analytics, or specific processing activities;

Lodge a complaint with the South African Information Regulator at inforegulator.org.za.

Requests are processed within 20 business days.

The Platform displays a curated non-commercial content layer ("World Heritage Content") featuring UNESCO World Heritage Sites, National Parks, and similar internationally recognised heritage locations ("Heritage Sites"). This content is informational and educational in nature. It does not constitute advertising, endorsement, affiliation with, or representation by the Platform of any Heritage Site, its management authority, or any associated tour operator, government body, or commercial enterprise.

Heritage Sites are displayed to enrich the context of seller listings and to promote awareness of globally significant locations. The Platform makes no warranty regarding the accuracy, completeness, or currency of Heritage Site information, descriptions, or photographs.

Photographs displayed in the World Heritage Content layer are sourced exclusively from Wikimedia Commons and are used under Creative Commons licences (CC BY, CC BY-SA) or are in the Public Domain (PDM / CC0). The Platform does not claim ownership of any such photographs. Each photograph remains the intellectual property of its original author as identified on Wikimedia Commons.

Attribution: Where a Creative Commons licence requires attribution, the photographer name and licence are displayed directly on the World Heritage photo in the TrustSquare app. Each photo links to its Wikimedia Commons source page. Attribution data is sourced from Wikimedia Commons metadata.

Takedown policy: If you are the copyright owner of a photograph displayed in the World Heritage Content layer and you believe your photograph has been used without authorisation or in breach of its licence, you may submit a takedown request to [email protected] with (a) your full name and contact details; (b) a description of the photograph and its location on the Platform; (c) proof of ownership or rights; and (d) a statement that you have a good-faith belief the use is unauthorised. The Platform will investigate and, if ownership is confirmed, remove the photograph within 7 business days of receipt of a complete and valid takedown notice.

The Platform's use of Wikimedia Commons photographs constitutes good-faith reliance on the licences declared on Wikimedia Commons. The Platform is not liable for licence misclassification by third-party contributors to Wikimedia Commons.

Sellers may voluntarily link up to five Heritage Sites to their listing ("Linked Wonders"). This association is made by the seller and represents their own representation that their listing is in proximity to or related to the selected Heritage Site. The Platform does not verify proximity claims. Buyers must conduct their own due diligence regarding the actual location of any listing relative to any Heritage Site.

Seller accountability: By linking a Heritage Site to a listing, the seller warrants that the association is honest, not misleading, and does not misrepresent the listing's location or amenities. False proximity claims constitute a material breach of this EULA and may result in immediate account termination under Section 14.2.

The Platform is not responsible for any buyer decision, travel plan, booking, or expenditure made in reliance on seller-linked Heritage Site associations.

Nothing in the World Heritage Content layer constitutes travel advice, a booking service, a tour operation, or a financial intermediary service. The Platform does not sell tickets, accommodation, or access to any Heritage Site. All decisions regarding travel to, or engagement with, any Heritage Site remain entirely the User's own responsibility.

TrustSquare operates as an introduction platform only. The Platform facilitates connections between buyers and sellers. It does not conclude transactions, hold client funds (other than Tuppence as defined in Section 11), provide financial advice, act as a property practitioner, manage investments, provide credit, or render any financial service as defined in the Financial Advisory and Intermediary Services Act 37 of 2002 ("FAIS").

FICA (Financial Intelligence Centre Act 38 of 2001): The Platform is not an Accountable Institution as defined in Schedule 1 of the FIC Act. The Platform does not conduct the business of a bank, insurer, estate agent, money service provider, or financial services provider. Accordingly, the Platform does not carry obligations under the FIC Act to perform Customer Due Diligence, file Suspicious Transaction Reports, or register with the Financial Intelligence Centre in respect of its introduction function. Tuppence is a non-cashable, non-transferable platform credit that does not constitute a virtual asset, electronic money, or financial instrument under applicable South African law. This position is supported by the non-refundability and non-exchangeability of Tuppence outside the Platform. This legal position has been prepared for review by counsel and is subject to confirmation [COUNSEL REQUIRED].

POPIA (Protection of Personal Information Act 4 of 2013): The Platform is a Responsible Party under POPIA. The Platform collects and processes personal information (names, email addresses, location data, listing content) on the lawful basis of contractual necessity and legitimate interest. Your rights as a data subject — including access, correction, deletion, and objection — are described in Section 9 of this EULA. The Platform is registered with (or in the process of registering with) the Information Regulator of South Africa. POPIA compliance is the Platform's responsibility. However, you, as a User, are also an independent Responsible Party in respect of any personal information you collect from other Users through introductions facilitated by the Platform. Your independent compliance with POPIA in that regard is your own responsibility.

Property Practitioners Act 22 of 2019: The Platform is not a property practitioner. It does not earn commission on property transactions. Sellers who are estate agents or property practitioners remain independently responsible for their registration with the Property Practitioners Regulatory Authority ("PPRA") and compliance with all obligations under the Property Practitioners Act. The Platform's introduction function does not constitute a service rendered as a property practitioner.

Consumer Protection Act 68 of 2008 ("CPA"): To the extent applicable, the Platform's consumer-facing obligations under the CPA are addressed in this EULA. Sellers who sell goods or services in the ordinary course of their business are independently subject to the CPA in their dealings with buyers. The Platform is not a supplier in the transaction between buyer and seller — it is an introducer only.

Electronic Communications and Transactions Act 25 of 2002 ("ECT Act"): The Platform complies with applicable provisions of the ECT Act including cooling-off rights (Section 5.4), disclosure obligations (Section 15), and data message rules. Your use of the Platform constitutes acceptance of data messages as legally valid under the ECT Act.

The Platform is governed by the laws of the Republic of South Africa. Users who access the Platform from jurisdictions outside South Africa do so at their own initiative and are responsible for compliance with all local laws applicable to them, including but not limited to:

European Union / EEA: General Data Protection Regulation (GDPR) — to the extent you are a data controller in respect of personal data of EU residents, your compliance obligations under GDPR are your own responsibility. The Platform's POPIA compliance framework is substantially aligned with GDPR principles.

United Kingdom: UK GDPR and Data Protection Act 2018 — same principle applies as for EU users.

United States: State privacy laws (CCPA/CPRA — California; VCDPA — Virginia; and equivalents) — US-based users are responsible for their own compliance as applicable.

Australia: Privacy Act 1988 and the Australian Privacy Principles — Australian users are responsible for their own compliance.

The Platform makes no representation that its services are appropriate, lawful, or available for use in any jurisdiction outside South Africa. Users in other jurisdictions use the Platform at their own risk and legal responsibility.

By accepting this EULA, you expressly acknowledge and agree that:

(a) You are solely responsible for ensuring your use of the Platform, and all transactions or interactions arising from introductions facilitated by the Platform, comply with all laws, regulations, and professional licensing requirements applicable to you in your jurisdiction.

(b) The Platform is an introducer and is not a party to any transaction, agreement, or arrangement made between you and another User following an introduction. The Platform assumes no liability for such transactions.

(c) If you are a seller offering regulated services (including but not limited to estate agency, financial advisory, legal, medical, or educational services), you warrant that you hold all licences, registrations, and permissions required by law to offer such services, and that your listing accurately reflects your qualifications and regulatory status.

(d) You will not use the Platform to facilitate money laundering, tax evasion, sanctions evasion, or any other unlawful financial activity. You acknowledge that the Platform may report suspicious activity to the Financial Intelligence Centre if it reasonably suspects such activity.

(e) Your acceptance of this EULA constitutes your acknowledgement that you have read, understood, and accepted full personal legal accountability for your conduct on the Platform, including your compliance with FICA, POPIA, CPA, FAIS, the Property Practitioners Act, and all other applicable legislation.

[COUNSEL REQUIRED] This section requires review by a South African admitted attorney to confirm the FICA non-applicability position, the Tuppence virtual asset characterisation, and the enforceability of the user accountability acknowledgement under South African law.

The Platform employs TLS 1.3 encryption in transit, server-side encryption at rest, role-based access controls, and daily encrypted backups to Cloudflare R2 with 14-day retention. Security is audited periodically by [COUNSEL REQUIRED: insert audit provider or frequency].

In the event of a data breach that compromises the confidentiality, integrity, or availability of your personal data, the Platform will notify you by email and notify the South African Information Regulator within 30 days of becoming aware of the breach, as required by POPIA. The notification will describe the nature of the breach, the data affected, and the steps taken or planned.

Disputes about listing content, transaction outcomes, service quality, or post-Introduction conduct are between the relevant Users. The Platform may, at its discretion, assist in facilitating communication but does not adjudicate, arbitrate, or guarantee any outcome in User-to-User disputes.

The Platform may take the following enforcement steps in response to violations of this EULA or applicable law, in escalating order:

Warning notice by email;

Temporary listing suspension;

Trust Score reduction;

Account suspension;

Permanent account ban and data deletion;

Referral to law enforcement or regulatory authorities.

Before either party initiates arbitration or litigation in connection with any dispute arising out of or relating to this EULA, the disputing party must send a written claim to the other party (or to [email protected] for disputes involving the Platform) describing the dispute in reasonable detail. The parties have 60 days from the date the claim is received to resolve the dispute by negotiation in good faith. This requirement does not apply to applications for urgent injunctive relief, IP infringement claims, or fraud.

If the 60-day negotiation period expires without resolution, disputes between a User and the Platform shall be resolved by binding arbitration conducted in English under the rules of the South African Arbitration Foundation (SAAF), with the seat of arbitration in Cape Town, South Africa. The arbitrator shall be a practising South African attorney or advocate with at least 5 years\' experience in commercial or technology law. Arbitration proceedings are confidential. Each party bears its own legal costs; the SAAF's arbitrator fees are split equally unless the arbitrator finds that one party acted in bad faith.

Nothing in this Section limits any rights you have under the Consumer Protection Act No. 68 of 2008 (CPA), including the right to approach the National Consumer Commission, the right to a 7-day cooling-off period (Section 5.4), or the right to bring a claim in a Magistrate's Court for claims under ZAR 10,000.

To the fullest extent permitted by South African law, the Platform's total aggregate liability to you in any 12-month period shall not exceed:

For Sellers: the total Tuppence earned and credited to your Wallet during that period, valued at USD $2 per Tuppence; or

For Buyers or other Users: ZAR 500.

The Platform is not liable for any of the following, whether arising in contract, delict, statute, or otherwise:

Indirect, incidental, consequential, special, or punitive damages;

Loss of profit, revenue, data, business opportunity, goodwill, or anticipated savings;

Actions, omissions, or conduct of any Seller, Buyer, or third party;

Platform unavailability, bugs, errors, or interruptions except where caused by the Platform's gross negligence;

Regulatory fines or compliance costs arising from your own violations.

Nothing in this section limits the Platform's liability for death or personal injury caused by its own gross negligence or wilful misconduct, or for fraud.

The Platform provides an intermediary service as defined in the ECT Act. The Platform does not initiate, select, or modify User-generated content (listings, photos, contact details). Subject to compliance with Section 10.8, the Platform is not liable for such User content.

If you believe Platform content is illegal, infringes your rights, or violates this EULA, notify the Platform by email at [email protected] with a description of the content, its location on the Platform, and evidence supporting your claim. The Platform will: (i) confirm receipt within 24 hours; (ii) investigate within 48 hours; (iii) disable access to content found to be illegal; and (iv) notify you of the outcome.

Every Seller has a Trust Score (0–100) that reflects their reliability and compliance on the Platform. The score determines listing display position and the badge displayed on listing cards.

Trust Score is calculated algorithmically based on: time active on the Platform; number of accepted Introductions; response rate (percentage of Introductions responded to within 48 hours); average Buyer rating; formal complaint count; policy violations; and — for Adventures Sellers — approved certification bonuses (Section 7.3).

Penalties are applied automatically and in accordance with the introduction model for your category (see Section 5.3). Penalties decay over time: each penalty reduces by 50% every 90 days. Full recovery typically occurs within 180 days. The Platform does not manually waive penalties on User request. If you believe a penalty was applied in error, contact [email protected].

If your Trust Score falls below 0, your account is automatically suspended. To request reactivation, contact [email protected] after 30 days. You may alternatively delete your account and re-register after a 90-day waiting period.

Your Trust Score and badge tier are visible to all Platform Users on your profile and listing card, before and after Introduction acceptance. This is an inherent part of the Platform's transparency model.

MarketSquare acknowledges that Tuppence may be scrutinised by the Financial Sector Conduct Authority (FSCA) as a potential virtual asset. The Platform operates two distinct Tuppence flows: Introduction Tuppence (Buyer-to-Platform, mandatory marketplace fee) and AI Feature Tuppence (Seller-to-Platform, optional cost-recovery for an external AI API). Both flows are assessed below. The Platform's current position is that neither constitutes a virtual asset under current FSCA classification, for the following reasons:

Tuppence is non-transferable between Users (a key criterion for FSCA virtual asset classification is fungibility and transferability);

Tuppence cannot be converted to cash or any other currency;

Tuppence cannot be traded on any exchange;

1T = USD $2 is a fixed platform rate, not a market price.

If the FSCA reclassifies Tuppence as a virtual asset or determines that the Platform requires a Crypto Asset Service Provider (CASP) licence, the Platform will:

Apply for the required FSCA licence within 180 days of the reclassification notice;

Update this EULA and the Privacy Policy to reflect new compliance obligations;

Notify all active Users of the regulatory status change by email;

Implement FICA-compliant KYC/AML screening as required.

Tuppence is currently earned through Introduction acceptance and is not purchased by Users via credit or installment. The National Credit Act (NCA) therefore does not apply to Tuppence in its current form. If a Tuppence purchase mechanism is introduced in future, the NCA's affordability assessment and disclosure obligations will apply, and fresh consent will be obtained from Users at that time.

The Platform does not provide financial, investment, or tax advice regarding Tuppence. You are responsible for understanding the legal and tax implications of Tuppence in your own jurisdiction. South African Users should consult SARS guidance on virtual assets and barter transactions.

This EULA is governed by and construed in accordance with the laws of the Republic of South Africa, without regard to its conflicts of law principles.

The following South African Acts are mandatory public law and cannot be waived, contracted out of, or overridden by this EULA. If any provision of this EULA conflicts with these Acts, the relevant Act prevails to the extent of the conflict:

Protection of Personal Information Act No. 4 of 2013 (POPIA)

Consumer Protection Act No. 68 of 2008 (CPA)

Electronic Communications and Transactions Act No. 25 of 2002 (ECT Act)

Financial Intelligence Centre Act No. 38 of 1998 (FICA), as amended

National Credit Act No. 34 of 2005 (NCA) — if and when applicable

Financial Sector Regulation Act No. 9 of 2017 and subordinate FSCA regulations

Constitution of the Republic of South Africa, Act 108 of 1996

You irrevocably and unconditionally consent to the non-exclusive jurisdiction of the High Court of South Africa and relevant Magistrate's Courts for the resolution of disputes not subject to arbitration under Section 10.4. For arbitrated disputes, the seat of arbitration is Cape Town, South Africa.

For legal notices and EULA-related communications: [email protected] or 6 Villa Christiaan, 98 Manie Road, Elarduspark, Pretoria, Gauteng, 0181.

You may terminate your account at any time by submitting a written request to [email protected]. Termination takes effect immediately. Upon termination:

All unused Tuppence is forfeited (non-refundable);

Your active listings are removed from public display within 48 hours;

Your account data is deleted or anonymised within 30 days, subject to FICA and other legal retention obligations;

Buyers with open Introduction requests are notified that the Seller is no longer available. Tuppence spent on closed Introductions is consumed; no refund is issued.

The Platform may terminate your account immediately, without notice, if you:

Violate this EULA, POPIA, CPA, ECT Act, FICA, or any applicable South African law;

Post fraudulent, illegal, defamatory, or harmful content;

Fail to complete identity verification (Section 3.5) after acceptance of a first Introduction;

Attempt to circumvent the Anonymity Gate (Section 3.3);

Engage in money laundering, terrorism financing, or sanctions evasion (FICA);

Claim false professional credentials;

Harass, abuse, or threaten other Users or Platform staff.

Upon termination for breach, all unused Tuppence is forfeited. The Platform reserves the right to recover damages arising from the breach.

The Platform may terminate your account on 30 days' written notice to your registered email address for any reason, provided you have no active Introduction disputes or pending arbitrations. If such termination occurs, unused Tuppence will be converted to a cash credit in ZAR (if a payout mechanism is available) or forfeited if no such mechanism yet exists. You will be notified of the applicable outcome.

The following sections survive account termination and continue in full force: Section 1 (Definitions), Section 3.6 (Regulatory Disclosure), Section 8 (User-Uploaded Content), Section 9 (Privacy and POPIA), Section 10.3–10.8 (Disputes and Liability), Section 13 (Governing Law), Section 16 (World Heritage Content), Section 17.3 (User Compliance Responsibility and Acknowledgement), and any accrued Tuppence obligations.

The Platform may update this EULA at any time. When material changes are made, you will be notified by email to your registered address and by an in-app notification at least 14 days before the changes take effect. The updated version number and effective date are displayed on this page at trustsquare.co/terms.

Continued use of the Platform after the effective date constitutes acceptance of the updated EULA. If you do not accept the updated terms, you must close your account before the effective date.

This EULA, together with the Privacy Policy at trustsquare.co/privacy and any Platform policies or guidelines published at trustsquare.co/legal, constitutes the entire agreement between you and the Platform regarding your use of the Platform, and supersedes all prior agreements, representations, or understandings relating to the same subject matter.

If any provision of this EULA is found to be unlawful, void, or unenforceable, that provision shall be severed from the EULA. The remaining provisions shall continue in full force and effect.

The Platform's failure to enforce any provision of this EULA at any time does not constitute a waiver of that provision or of the right to enforce it in the future.

Nothing in this EULA creates a partnership, joint venture, agency, franchise, or employment relationship between you and the Platform.

You may not assign or transfer your rights or obligations under this EULA without the Platform's prior written consent. The Platform may assign its rights and obligations to a successor entity upon written notice to you.

The Platform is not liable for any failure or delay in performance caused by circumstances beyond its reasonable control, including natural disasters, load-shedding, telecommunications failures, cyberattacks, or government action, provided the Platform notifies you as soon as reasonably practicable and takes reasonable steps to resume performance.

This EULA is written in plain English. If you do not understand any provision, please contact [email protected] and we will provide a plain-language explanation within 5 business days. You may request a copy of this EULA and your transaction history at any time.

Draft for legal review — not for publication