Token Holder Agreement

1. Definitions
• Token: Vanyara Utility Token, representing the right to redeem 1 night stay at Vanyara Resort (subject to conditions).
• Platform: BRIKx Tokenisation Platform (www.brikxtokens.com).
• Redemption: Using tokens for stay, wellness, or approved resort services.
• Staking: Voluntary locking of tokens for specified periods to earn bonus nights/rewards.
• Resale/Transfer: Sale or transfer of tokens to another verified user via BRIKx marketplace.
• KYC/AML: Verification process under RBI, SEBI & PMLA guidelines.
2. Nature of Tokens
• Tokens are prepaid usage credits only.
• They do not represent ownership in land, resort, SPV shares, or securities.
• Tokens are non-interest bearing.
• They are GST-compliant utility vouchers.
3. Purchase Terms
• Minimum purchase: [1] token.
• Token price determined by stage (Seed / Pre-sale / Public Sale).
• Payment via bank transfer, UPI, credit card, or other approved methods.
• Token allocation upon successful payment + KYC approval.
• Tokens once issued are non-refundable except under cooling-off (Clause 10).
4. Holder Rights
• Redemption: 1 Token = 1 night stay at Vanyara (standard occupancy).
• Staking: Option to lock tokens to earn bonus nights/cash rewards.
• Transferability: Tokens may be resold or gifted only through the BRIKx platform.
• Transparency: Quarterly usage reports + ADR linkage published.
• Access: Exclusive community events, resort perks, early booking windows.
5. Holder Obligations
• Complete KYC/AML before purchase or transfer.
• Use tokens only for lawful purposes.
• Bear applicable GST & taxes on purchase/redemption.
• Follow resort booking policies (check-in/out, cancellations, etc.).
6. Redemption Rules
• 1 token = 1 standard night stay (double occupancy).
• Blackout/peak dates may apply (published annually).
• Taxes & extras (F&B, spa, safari, GST) payable separately.
• Booking subject to availability; priority given to token holders.
7. Staking Policy
• Lock-in options: Every Year one month staking window in April.
• Rewards: Bonus nights , priority booking or profit sharing
• Staked tokens cannot be redeemed/resold during lock period.
• Terms may vary per staking campaign; notified on platform.
8. Resale / Transfer Policy
• Tokens transferable only via BRIKx marketplace.
• Secondary buyers must complete KYC/AML.
• Platform may charge a transaction fee (5%).
• Off-platform transfers are prohibited.
9. Compliance & Safeguards
• GST charged on booking/redemption as per law.
• Utility token classification; not a security or financial instrument.
• Subject to Indian Contract Act, 1872 and Consumer Protection Act, 2019.
• All disputes subject to Arbitration in Lucknow, India under Arbitration and Conciliation Act, 1996.
10. Cooling-Off & Refunds
• Cooling-off period: 7 days from purchase, if tokens not yet redeemed/staked.
• Refunds processed to original payment method within 7 business days.
• After cooling-off, no refunds except under Clause 11 (Force Majeure).
11. Force Majeure
• Company not liable for non-performance due to natural disasters, pandemics, government restrictions, or events beyond control.
• In such case, tokens may be reallocated.
12. Limitation of Liability
• Company’s maximum liability limited to token purchase value.
• No claims for indirect, incidental, or speculative damages.
13. Termination
Company may terminate token usage if:
• Holder provides false KYC, misuses tokens, or breaches law.
• Fraudulent transfers or attempts to bypass platform rules.
14. Dispute Resolution
• Disputes resolved via arbitration (Lucknow, India).
• Applicable laws: Indian Contract Act, Consumer Protection Act, IT Act, GST laws.
15. Governing Language
• Agreement executed in English; translations may be provided for convenience.
16. Acknowledgment
By purchasing tokens, the Holder acknowledges they:
• Have read and understood this Agreement.
• Accept tokens as utility vouchers only.
• Waive any claim of ownership/interest in underlying real estate.