General Platform Terms and Conditions – Twenty Four Twelve Society International Limited
This document sets forth the legally binding Terms and Conditions ("Terms") governing the use of the platform operated by Twenty Four Twelve Society International Limited, a private limited company incorporated under the laws of Hong Kong with its registered office at RM 602, 6/F, Kai Yue Comm Building, No.2C Argyle Street, Mongkok, Kowloon, HONG KONG, and company number 78649523. These Terms are governed by the laws of the Hong Kong Special Administrative Region ("HKSAR").
1. Scope 1.1 Twenty Four Twelve Society International Limited, a private company registered in Hong Kong under company number 78649523, with its registered address at RM 602, 6/F, Kai Yue Comm Building, No.2C Argyle Street, Mongkok, Kowloon, HONG KONG, operates the online marketplace "2412" (hereinafter: "platform"). These General Platform Terms and Conditions apply to the free use of the platform. 1.2 The current version of the General Platform Terms and Conditions may be downloaded and saved from the 2412 website. 1.3 These Terms are binding for all users of the platform, regardless of their country of origin.
2. Contract
2.1 Submitting an online registration on the 2412 platform constitutes a legally binding offer to enter into a usage agreement with Twenty Four Twelve Society International Limited.
2.2 Upon submission of registration, users receive a confirmation email. The account becomes active only after the user clicks the activation link and the registration is approved by Twenty Four Twelve Society International Limited. Only at this point does the user agreement become effective.
2.3 The Company reserves the right to reject registration requests without providing any reason.
3. Description of Services 3.1 The platform allows users to:
Browse and search for luxury watches;
Connect and communicate with third-party sellers;
Conduct secure transactions through a licensed third-party escrow partner;
Access optional services, such as buyer protection or authentication, when available. 3.2 Twenty Four 2412 Society International Limited is not a seller or intermediary. It does not buy, sell, ship, inspect, store, or represent any product listed on the platform. 3.3 Listings serve as invitations to treat and are non-binding. No contract of sale is formed between the user and the platform operator.
4. Registration and User Account 4.1 Only individuals with full legal capacity may register. Registration by minors or individuals under guardianship is prohibited. 4.2 Users must provide accurate and truthful information, including a valid email and secure password. The account is personal and may not be transferred without express written consent. 4.3 Users are responsible for safeguarding login credentials and for all activity under their account. In case of unauthorized access, the user must inform the platform immediately. 4.4 The Company reserves the right to deactivate or suspend accounts for breach of these Terms or suspected misuse, including identity falsification or platform abuse.
5. Use of the Platform 5.1 Registered users may access features such as search tools, wishlists, seller messaging, watch alerts, and escrow transaction links. 5.2 The Company reserves the right to modify, enhance, restrict, or discontinue any feature of the platform without prior notice or liability. 5.3 Browsing and registration are free. Optional paid promotional services may be offered to sellers on request. 5.4 Only users with full legal capacity may initiate binding transactions. Users are responsible for complying with the legal and fiscal requirements of their jurisdiction.
6. User Obligations 6.1 Users agree not to disrupt the platform's functionality or security. Prohibited conduct includes:
Deploying scrapers, bots, or automation without consent;
Reverse engineering or bypassing access controls;
Uploading malware or harmful code;
Copying, replicating, or redistributing content unlawfully. 6.2 Users shall not use the platform for spamming, phishing, defamation, illegal transactions, or misrepresentation. 6.3 Commercial exploitation of platform data (outside direct sales on 2412) is strictly prohibited. 6.4 Users are expected to report
7. Transaction Reporting and Commission 7.1 Twenty Four Twelve Society International Limited charges a standard commission of 5% on the final price of any completed transaction initiated through the platform. 7.2 All payments between buyers and sellers are processed via a third-party escrow service (e.g., Escrow.com). The buyer transfers the full amount to the escrow account. 7.3 Upon confirmation of delivery by the buyer or expiry of the escrow timeline, 96% of the sale price is released to the seller, and 5% is automatically released to the Company. 7.4 Users who attempt to circumvent the platform (i.e., finalize sales outside the escrow service after initial contact on the platform) are obligated to report such sales to the Company. In such cases, the Company reserves the right to invoice its standard commission. 7.5 The Company does not collect or hold funds and is not liable for escrow service delays or disputes between buyers and sellers.
VAT, Taxes, and Customs 8.1 Twenty Four Twelve Society International Limited, being registered in Hong Kong, is not subject to EU, US, or Israeli VAT or sales tax legislation. 8.2 The Company does not collect, remit, or administer VAT, GST, customs duties, or local consumption taxes on any transactions facilitated through the platform. 8.3 Buyers are solely responsible for compliance with applicable tax regulations, including declaration and payment of import duties, VAT, sales tax, and any other charges related to cross-border trade. 8.4 The buyer is considered the importer of record for any international shipment and must ensure full legal compliance with the relevant authorities in their jurisdiction. 8.5 The Company assumes no responsibility for any tax liabilities, customs delays, seizures, or penalties incurred by buyers or sellers.
9. AML and KYC Requirements 9.1 In compliance with Hong Kong Anti-Money Laundering (AML) and Counter-Terrorist Financing (CTF) legislation, the Company may request Know Your Customer (KYC) documentation from users, including but not limited to:
Government-issued identification;
Recent proof of residential address;
Documentation evidencing the lawful source of funds for high-value transactions. 9.2 The Company reserves the right to temporarily suspend, restrict, or permanently terminate user accounts pending verification or if a user fails to provide adequate documentation upon request. 9.3 The Company may share relevant user information with competent legal or regulatory authorities in accordance with applicable AML/CTF laws, and without prior notice where legally permitted or required. 9.4 Refusal to comply with KYC requirements may result in cancellation of transactions and blocking of platform access.
10. Liability
10.1 The Company endeavors to maintain uninterrupted access to the platform but does not guarantee error-free or continuous operation. 10.2 The Company is not responsible for:
The quality, authenticity, legality, or condition of any item listed;
Delays, damages, or losses arising from shipping or customs;
Disputes between users (including buyers and sellers);
Misrepresentation, fraud, or misconduct by third parties. 10.3 The platform is provided on an "as is" and "as available" basis. To the maximum extent permitted by law, the Company disclaims all warranties, express or implied, including those of merchantability or fitness for a particular purpose. 10.4 The Company’s liability, whether in contract, tort (including negligence), or otherwise, shall in no circumstances exceed the amount of commission actually received by the Company for the relevant transaction. 10.5 The Company shall not be liable for indirect, incidental, punitive, or consequential damages.
11. Termination 11.1 Users may close their account at any time via their profile settings or by contacting customer support. 11.2 The Company reserves the right to suspend, restrict, or permanently delete any account in cases of:
Breach of these Terms;
Suspected fraud, abuse, or illegal conduct;
Prolonged inactivity (e.g., no login for over 12 months). 11.3 Termination does not affect any rights or obligations accrued prior to termination. 11.4 Upon closure or termination of an account, user data shall be deleted or anonymized, subject to legal retention requirements and in accordance with the Company’s Data Privacy Policy.
12. Governing Law and Jurisdiction 12.1 These Terms and any disputes arising out of or in connection with the use of the platform or the services provided by Twenty Four Twelve Society International Limited shall be governed exclusively by the laws of the Hong Kong Special Administrative Region (HKSAR). 12.2 The courts of Hong Kong shall have exclusive jurisdiction over any legal proceedings relating to these Terms or the use of the platform. Users agree to submit to the jurisdiction of such courts without objection or delay. 12.3 This choice of law and jurisdiction does not limit any mandatory consumer protection rights you may have under the laws of your country of residence.
13. Final Provisions 13.1 If any provision of these Terms is held to be invalid, illegal, or unenforceable by a court of competent jurisdiction, such provision shall be modified to the minimum extent necessary to make it valid, or, if not possible, shall be deemed severed, without affecting the remaining provisions. 13.2 The Company may amend these Terms at any time. Users will be notified of substantial changes via email or through platform notices. Continued use of the platform after changes are published constitutes acceptance of the revised Terms. 13.3 The Company may assign or transfer its rights and obligations under these Terms to another entity, including in the context of a merger, acquisition, or restructuring. Users will be notified in such case and may terminate their account within 14 days if they do not agree to the transfer. 13.4 These Terms constitute the entire agreement between the user and the Company regarding the use of the platform and supersede all prior communications, representations, or agreements, whether oral or written.
14. Right of Indemnity 14.1 The user agrees to indemnify and hold harmless Twenty Four Twelve Society International Limited, its directors, officers, employees, agents, and affiliated partners from and against any and all third-party claims, damages, losses, liabilities, costs, and expenses (including reasonable legal fees) arising out of or in connection with:
Any use of the platform in violation of applicable laws or these Terms;
Any breach of representations, warranties, or obligations under these Terms;
Any infringement of third-party rights, including intellectual property, privacy, or contractual rights;
Any content or communication submitted by the user that is false, misleading, defamatory, or illegal. 14.2 If a third party initiates legal proceedings or asserts a claim against the Company based on actions or omissions by a user, the user agrees to cooperate fully with the Company in the defense and resolution of such claims. 14.3 This indemnity obligation shall survive termination of the user account or contractual relationship with the Company.
15. Communication and Notices 15.1 All legal notices, updates to terms, or significant communications from the Company to users will be sent via email or displayed within the user account dashboard. 15.2 Users are responsible for maintaining accurate and up-to-date contact details, including their registered email address. The Company shall not be held liable for communication failures caused by outdated or incorrect information. 15.3 Communications sent by the Company shall be deemed received:
Immediately upon electronic delivery, if sent by email;
Three (3) business days after postal dispatch, if sent by registered mail. 15.4 All user correspondence or legal notices intended for the Company shall be directed to: Twenty Four Twelve Society International Limited
RM 602, 6/F, Kai Yue Comm Building, No.2C Argyle Street, Mongkok, Kowloon, HONG KONG
Email: [insert legal or support email address]
16. Intellectual Property 16.1 All content on the platform, including but not limited to text, graphics, design elements, logos, icons, images, source code, and software, is the exclusive property of Twenty Four Twelve Society International Limited or its licensors, and is protected under intellectual property laws applicable in Hong Kong and internationally. 16.2 Users may not copy, modify, distribute, reproduce, publish, or create derivative works based on any content of the platform without prior written consent from the Company. 16.3 Any unauthorized use of the platform's intellectual property may result in legal action, including claims for damages and injunctive relief. 16.4 Users retain ownership of content they lawfully submit to the platform but grant the Company a non-exclusive, worldwide, royalty-free license to use, reproduce, display, and distribute such content as necessary for the provision of services.
17. Data Protection and Privacy 17.1 The Company collects and processes personal data in accordance with its Privacy Policy and applicable data protection laws, including the Personal Data (Privacy) Ordinance (Cap. 486) of Hong Kong. 17.2 Users consent to the collection and use of their data for purposes including account administration, fraud prevention, transaction processing, support services, and regulatory compliance. 17.3 The Company may transfer data to third parties such as escrow providers, shipping partners, or legal authorities when required for service delivery or compliance. 17.4 Users have the right to access, correct, and request deletion of their personal data, subject to legal retention obligations. Requests must be submitted in writing to the Data Protection Officer. 17.5 For full details, users are encouraged to consult the Company’s official Privacy Policy available on the platform.
18. Prohibited Activities 18.1 Users shall not use the platform for any purpose that is unlawful, unethical, or inconsistent with these Terms. Prohibited activities include, but are not limited to:
Listing counterfeit, stolen, or unauthorized items;
Attempting to defraud other users or the platform;
Impersonating another individual or misrepresenting identity;
Violating third-party intellectual property rights;
Uploading or distributing malicious software or content. 18.2 The Company reserves the right to remove content, cancel transactions, or restrict access if it has reason to believe that any user is engaging in prohibited activities. 18.3 Users engaging in such activities may also be subject to legal consequences, including civil claims or criminal prosecution under the laws of Hong Kong.
19. Account Suspension and Investigation Procedures19.1 The Company may suspend or restrict user accounts temporarily or permanently in cases of:
Suspected fraud or unauthorized access;
Ongoing investigations for AML/CTF compliance;
Receipt of substantiated complaints from other users. 19.2 During a suspension, users may be restricted from:
Accessing their account or transaction history;
Communicating with other users;
Initiating new transactions or listings. 19.3 The Company shall notify the user of the reason for suspension and may request documentation or clarification. 19.4 Following investigation, the Company may:
Reinstate full account access;
Impose permanent restrictions;
Report the matter to relevant authorities if applicable. 19.5 The Company is under no obligation to disclose investigation outcomes or third-party information received in the course of such procedures.
20. Feedback and Reviews 20.1 Users may submit reviews, feedback, or ratings regarding transactions or experiences with other users, provided that such submissions are honest, lawful, and based on actual experience. 20.2 The Company reserves the right to moderate, remove, or edit content that is false, abusive, defamatory, misleading, promotional, or violates third-party rights. 20.3 Users are strictly prohibited from:
Posting false or fabricated reviews;
Offering compensation in exchange for reviews;
Retaliating against users for honest feedback. 20.4 The Company does not endorse user reviews and shall not be held liable for the accuracy, reliability, or consequences of any feedback published on the platform.
21. Force Majeure 21.1 The Company shall not be liable for any failure or delay in the performance of its obligations resulting from causes beyond its reasonable control, including but not limited to:
Natural disasters, fire, flood, or extreme weather;
War, terrorism, civil unrest, or embargo;
Labor strikes or lockouts;
Power failures, internet outages, or cyberattacks;
Governmental actions or legal restrictions. 21.2 In the event of a force majeure situation, the Company will make reasonable efforts to resume services as soon as practicable. However, users acknowledge that certain obligations may be suspended without penalty during such events.
22. Escrow Provider Disclaimer 22.1 Transactions on the platform are facilitated through third-party escrow services (such as Escrow.com), which operate independently from Twenty Four Twelve Society International Limited. 22.2 The Company is not a party to the escrow agreement and shall not be liable for any errors, delays, or omissions committed by the escrow provider. 22.3 Users acknowledge that the escrow service is governed by separate terms and conditions, and agree to review and accept those terms before using the service. 22.4 Any disputes related to the holding or release of funds must be addressed directly with the escrow provider.
23. Language and Interpretation 23.1 These Terms are written in English. In the event of translation into other languages, the English version shall prevail in case of inconsistency or conflict. 23.2 Headings and section titles in these Terms are provided for convenience only and shall not affect the interpretation of the clauses. 23.3 Any references to "days" shall mean calendar days unless otherwise specified. Use of the singular shall include the plural and vice versa, as appropriate in context. 23.4 If there is any ambiguity in interpreting a clause, such provision shall be interpreted in a reasonable and equitable manner consistent with the intent of the entire document.
24. Amendments to Terms 24.1 The Company reserves the right to update or modify these Terms at any time to reflect changes in business practices, legal requirements, or platform features. 24.2 Users will be notified of substantial amendments via email or through a notice on the platform. The revised Terms shall become effective upon publication or on the date specified in the notice. 24.3 Continued use of the platform after changes take effect constitutes acceptance of the amended Terms. Users who do not agree with the new Terms may terminate their account in accordance with Clause 11.
25. Survival of Clauses 25.1 The termination, expiration, or cancellation of the user’s account shall not affect the enforceability of provisions that, by their nature or express terms, are intended to survive termination. This includes, but is not limited to:
Clauses related to limitation of liability;
Intellectual property rights;
Indemnification obligations;
Governing law and jurisdiction;
Data privacy commitments. 25.2 Such clauses shall remain binding upon the user and the Company notwithstanding the termination of their contractual relationship.
26. No Waiver 26.1 The failure of the Company to enforce any right or provision of these Terms shall not constitute a waiver of such right or provision. 26.2 Any waiver of a breach of these Terms shall not constitute a waiver of any subsequent breach. No waiver shall be effective unless expressly stated in writing and signed by an authorized representative of the Company.
27. Relationship of the Parties 27.1 Nothing in these Terms shall be construed to create a partnership, joint venture, employment, or agency relationship between the user and the Company. 27.2 Users acknowledge that they are independent and act on their own behalf. The Company does not authorize any user to bind or represent the Company in any manner. 27.3 Any use of the Company’s name, logo, or branding by a user without prior written consent is strictly prohibited and may result in legal action.
28. Assignment 28.1 Users may not assign, transfer, or delegate their rights or obligations under these Terms without the prior written consent of the Company. 28.2 The Company may assign or transfer its rights and obligations under these Terms without restriction, including in the event of a merger, acquisition, or sale of assets. 28.3 Any attempt to assign or transfer these Terms in violation of this clause shall be null and void.
29. Third-Party Rights 29.1 Unless expressly stated, no provision of these Terms shall be enforceable by any third party, including under the Contracts (Rights of Third Parties) Ordinance (Cap. 623) of Hong Kong. 29.2 This does not affect any right or remedy of a third party that exists independently of this contract. 29.3 Users acknowledge that services provided by third parties on or through the platform (such as escrow, logistics, or payment gateways) are governed by separate terms and conditions.
30. Contact and Support 30.1 For any questions, technical support, or legal notices relating to these Terms or the use of the platform, users may contact the Company via the following channels:
Twenty Four Twelve Society International Limited
RM 602, 6/F, Kai Yue Comm Building
No. 2C Argyle Street, Mongkok, Kowloon, HONG KONG
email: …………………
30.2 The Company aims to respond to support requests within a reasonable timeframe. However, no guarantees are made regarding response times or issue resolution unless otherwise specified by a separate written agreement. 30.3 Users are encouraged to consult the FAQ and help resources available on the platform before contacting customer support.