Terms of Service

These Terms of Service ("Terms") form a binding agreement between you and Norrstone ehf. ("Norrstone", "we", "us", "our") and govern your access to and use of the Norrstone Vault website, mobile application, and related services (collectively, the "Service"). By creating an account, signing in, or otherwise using the Service, you agree to these Terms. If you do not agree, do not use the Service.

Norrstone Vault is a digital platform that allows jewelers ("Jewelers") to issue digital certificates of ownership, provenance, and warranty for physical jewelry, and allows buyers ("Consumers") to receive, view, transfer, and — where enabled — resell those certificates. Certain certificates are represented as non-fungible tokens ("NFTs") on the public Polygon blockchain.

The Service is a software platform. Norrstone does not manufacture, sell, insure, or appraise physical jewelry, and is not a party to any transaction between a Jeweler and a Consumer or between two Consumers.

To use most features of the Service you must create an account. You agree to:

• Provide accurate, complete, and current information.
• Keep your credentials confidential and secure.
• Notify us immediately of any unauthorized access to your account.
• Be at least 16 years old (or the age of digital consent in your country).

You are responsible for all activity that occurs under your account. We may suspend or terminate your account if we reasonably believe you have violated these Terms.

A Norrstone certificate is a digital record representing a physical piece of jewelry. Holding a Norrstone certificate represents a claim of ownership or an assertion of provenance, but it is not, by itself, conclusive proof of legal ownership of the physical item. Legal ownership of physical property is governed by the laws of the relevant jurisdiction and by the terms of the underlying sale.

Where a certificate is minted as an NFT on the Polygon blockchain, transferring the NFT transfers the digital record only. You are solely responsible for ensuring that any real-world transfer of the physical item complies with applicable law.

You acknowledge that:

• Transactions on the Polygon blockchain are public, irreversible, and cannot be modified or deleted by Norrstone.
• Network fees (gas) may apply to certain actions. Unless otherwise stated, Norrstone pays for minting during the pilot phase.
• We do not custody your private keys. If you connect a personal wallet, you are solely responsible for its security.
• Blockchain networks may experience congestion, downtime, forks, or other events outside our control. We are not responsible for any resulting delay or loss.

The Service may allow you to list a certificate for resale or to request a resale through the original Jeweler. Resale transactions are subject to additional terms presented at the time of the transaction. Norrstone may collect a platform fee on completed resales. Norrstone does not guarantee any particular resale price, liquidity, or timeframe.

You agree not to:

• Use the Service for any unlawful, fraudulent, or harmful purpose.
• Attempt to reverse engineer, decompile, or bypass any security measure.
• Upload or transmit malicious code, viruses, or content that infringes any third party's rights.
• Misrepresent the origin, authenticity, or ownership of any jewelry or certificate.
• Use the Service to launder funds, evade sanctions, or violate any export or anti-money-laundering law.
• Scrape, overload, or interfere with the normal operation of the Service.

Norrstone, the Norrstone name, the Norrstone mark, the Norrstone Vault application, and all associated software, designs, and content are owned by Norrstone or its licensors and are protected by intellectual property laws.

You retain all rights to the content you submit to the Service (including photographs of your jewelry and messages you send). You grant Norrstone a worldwide, non-exclusive, royalty-free license to host, store, display, and process that content solely to operate and improve the Service.

If you use the Service as a Jeweler, you additionally represent and warrant that:

• You have all necessary rights, licenses, and permissions to issue a certificate for each piece of jewelry you list.
• The information you include in each certificate is accurate and not misleading.
• You comply with all applicable consumer protection, hallmarking, and sales laws.
• You will honor the warranty or provenance claims you make on the Service.

During the pilot phase the Service is free for Consumers. Norrstone may introduce subscription, transaction, or listing fees in the future; any new fee will be communicated to affected users in advance.

The Service integrates with third-party services such as Shopify, Google, Apple, and Polygon. Your use of those services is governed by their own terms and privacy policies. Norrstone is not responsible for third-party services.

The Service is provided "as is" and "as available" without warranties of any kind, whether express or implied, including warranties of merchantability, fitness for a particular purpose, non-infringement, or uninterrupted operation. Norrstone does not guarantee that certificates will always be accessible, that the Service will be error-free, or that any particular jeweler will continue to honor a certificate.

To the maximum extent permitted by law, Norrstone and its officers, employees, and affiliates will not be liable for any indirect, incidental, special, consequential, or punitive damages, or any loss of profits, revenue, data, or goodwill, arising out of or in connection with your use of the Service.

Our aggregate liability for any claim arising out of or relating to these Terms or the Service will not exceed the greater of (a) EUR 100 or (b) the fees you paid us for the Service during the twelve months preceding the event giving rise to the claim.

Nothing in these Terms excludes or limits liability that cannot be lawfully excluded or limited.

You agree to indemnify and hold Norrstone harmless from any claim, demand, loss, or expense (including reasonable legal fees) arising out of your breach of these Terms, your misuse of the Service, or your violation of any law or third-party right.

You may stop using the Service at any time. We may suspend or terminate your access at any time for any reason, including violation of these Terms. Sections that by their nature should survive termination will do so (including ownership, disclaimers, limitation of liability, and governing law).

We may update these Terms from time to time. If we make material changes we will provide reasonable notice. Your continued use of the Service after the changes take effect means you accept the updated Terms.

These Terms are governed by the laws of Iceland, without regard to conflict-of-law rules. Any dispute arising out of or relating to these Terms or the Service will be subject to the exclusive jurisdiction of the courts of Reykjavík, Iceland, except where mandatory consumer protection law requires otherwise.

Norrstone ehf.
Reykjavík, Iceland
legal@norrstone.com