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Raenest Referral Agreement

Last modified: 03/03/2024

Current users are offered the opportunity to partake in and earn monetary rewards in the Referral Programme of Raenest Technologies Solutions Service Limited (“Raenest”). 

These Terms and Conditions (the “Terms”) define and regulate the eligibility and participation of users in the Referral Programme. All the definitions in and provisions of the Terms of Service are incorporated by reference.

Any personal data processed or controlled under the Referral Programme will be handled in compliance with the Raenest Privacy Policy applicable to the users’ jurisdiction.

  1. User Eligibility

To qualify for inclusion in the Referral Programme, users are required to comply with and fulfil the following conditions:

  • Complete their onboarding to the Raenest Platform
  • Operate a Raenest account registered in their name

The following users are ineligible for the Referral Programme:

  • Users whose previous accounts had been terminated by Raenest for a breach of the Terms of Service or other conditions of their use of the Raenest platform.
  • Users whose accounts were previously suspended for a breach of the Terms of Service.
  • Users with multiple profiles/accounts.
  • Users legally or contractually restricted from participating in promotional programmes.

Raenest retains the unilateral right to update the Terms and determine the conditions for a users’ exclusion from the Referral Programme subject to the Terms of Service, these Terms, as well as all other guidelines and policies guiding the use of the Platform which may be issued in the future.

  1. Referral Links and Eligible Referrals 

Eligible users shall be included in the Referral Programme and shall be issued unique referral links or invite_code. Users will be notified of their inclusion in the Referral Programme.Referral Links are non-transferable and shall not be sold or used as an item of exchange. Raenest retains all intellectual property in the Referral may in its sole discretion to limit access and use of Referral Links.Referral links are to be shared with potential users (“Referrals”) of the Raenest platform. To qualify as a Referral, the recipient of Referral Links must use the Referral Link to sign-up for and be onboarded to the Raenest platform. Recipients and users of Referral Links will not quality as Referrals if they:

  • are current users of the Raenest Platform;
  • previously created terminated or suspended accounts;
  • are legally or contractually restricted from creating accounts or using the Raenest platform;
  • previously commenced the account creation process.
  1. Referral Rewards

For each completed onboarding of a Referral from their Referral Links, Eligible users shall earn $4 (four US Dollars), provided the Referral fulfils one of the following conditions:

  • Complete card transactions equivalent to $200 (two hundred US Dollars) (exclusive of self-funding) within 45 (forty-five) days of signing up. Provided that each transaction shall have a value of $20 (twenty  US Dollars); or
  •  Receives a single transaction inflow equivalent to $200 (two hundred US Dollars).

Transactions which are denominated in Pound Sterling or the Euro qualify for inclusion provided the single or cumulative transactions is/are to equivalent $200 (two hundred US Dollars) as determined by the exchange rate on the date of the relevant transaction (s).Referrals shall be paid $2 (two dollars) for each reward of $4 (four dollars) earned by the user whose Referral Link was used for their onboarding.Users shall earn a maximum of $150 (one hundred and fifty US Dollars) for successfully using the Referral Links. Referral rewards may be subject to local income tax law in the country of your residence. Users shall be responsible for all tax liability arising from the rewards received during the Referral ProgrammeRaenest retains the right to reverse rewards as well as investigate and withdraw payments for the breach of these Terms or other conditions for the use of the Platform and the Referral Programme, provided that the disciplinary measures for a breach of the Terms and/or the Terms of Service shall include the termination and suspension of accounts, forfeiture of rewards, and legal action for recovery of disbursements.

  1. Termination

These Terms shall take effect on the earlier of the following:

  • The date on which you are notified of your inclusion in the Referral Programme; or 
  • The date on which you first generate a Referral Link.

The Terms will terminate upon Notice by either a user or Raenest to the other party. Raenest may terminate the Terms upon Notice to you at any point in time, provided that the Terms shall lapse in relation upon a User’s receipt of the maximum reward.

  1. Dispute Resolution

All disputes arising from the Referral Programme shall be governed by the dispute resolution provisions of the Terms of Service.

  1. Liability 

Raenest’s liability to you for damages under the Referral Program is limited to the total Referral Credits paid or payable to you in the three-month period immediately preceding the damage. Raenest shall not be liable to you for any consequential, indirect, special, or punitive damages, or loss of profits or revenue.