LOTURAS TERMS OF TRADES

Please read before trading on the network

Social Market

Market Booking

This product allows you to buy an in-person meeting in person with any other user. Search for a user, click on the “Meet” button, and pre-authorize funds by entering a credit card. At that point, the platform will notify the other user of your intent to meet with them. If they accept the meeting, the event will be logged in the application’s calendar. In order to eliminate the risk of the seller not showing up to the meeting (i.e. performance risk), the platform will lag payment to the seller until 24 hours have transpired after the time of the meeting logged/recorded in the application’s calendar.

To prevent payment to a non-performing user for this product, please contact us at trades@loturas.com and we will cancel payment to the seller before the funds are paid out.

Market Phone Call

This product allows you to buy a masked phone call with any other user. Search for a user, click on the “Call” button, and pre-authorize funds by entering a credit card – Loturas does not pay the other user need at this point. The platform will notify the other user of your intent to call them over the phone. If they accept the phone call, the event will be logged in the application’s calendar. In order to eliminate the risk of the seller not picking up the phone (i.e. performance risk), the platform will lag payment to the seller until 24 hours have transpired after the time of the phone call logged/recorded in the application’s calendar.

To prevent payment to a non-performing user for this product, please contact us at trades@loturas.com and we will cancel payment to the seller before the funds are paid out.

Market Videoconferencing Call

This product allows you to buy a masked videoconference call with any other user. Search for a user, click on the “Video Call” button, and pre-authorize funds by entering a credit card – it does pay the other user at this point. The platform will notify the other user of your intent to video call them over your device. If they accept the video call, the event will be logged in the application’s calendar. In order to eliminate the risk of the seller not showing up to the video call (i.e. performance risk), the platform will lag payment to the seller until 24 hours have transpired after the time of the video call logged/recorded in the application’s calendar.

To prevent payment to a non-performing user for this product, please contact us at trades@loturas.com and we will cancel payment to the seller before the funds are paid out.

Market Messaging

This product allows you to incentivize any other user to reply to your chat message.

Bid Message

The sender’s credit card is preauthorized an amount equal to the recipient’s message price upon sending a bid message – Loturas does not pay the recipient at this point. The platform notifies the recipient of receipt of a bid message. The sender is charged 24 hours after reply by the recipient. The pre-authentication is cancelled if recipient does not reply within 7 days.

To prevent payment to a recipient of a bid message that has replied a non-performing response, please contact us at trades@loturas.com and we will cancel payment to the recipient before the funds are paid out.

Ask Message

Market Design Principle – Ask messages can only be sent to users the sender follows or is followed by. The recipient’s credit card is pre-authorized an amount equal to the sender’s asking price upon reply by recipient. The recipient is charged 24 hours after reply by original sender. Cancel the authentication if original sender does not reply within 7 days.

To prevent payment to a sender of an ask message that has replied a non-performing response, please contact us at trades@loturas.com and we will cancel payment to the sender before the funds are paid out.

Labor Market Interviews

Apply Price

On this network, job interviews across the network may be priced. Applicants may apply to a posted job with a Apply Price by pre-authorizing their credit card for an amount equal to the recruiter’s Apply Price – Loturas does not pay the recruiter at this point. The platform will notify the user acting as a recruiter that another user acting as an applicant has matched their price and has set a date and time for an interview over a masked phone call or video conference. If the recruiter accepts, an event will be recorded in the application’s calendar. In order to eliminate the risk of non-performance on behalf of the recruiter, monies will be paid with a lag of 24 hours after the event/interview recorded in the application’s calendar.

In order to eliminate the risk of people posting jobs that they cannot fill with real positions, the recruiter’s performance metrics are published to their profile. The number of offers made to applicants vs the number of jobs posted is shown. A user that posts jobs that he cannot fill will have a very low performance metric and the market will avoid applying to jobs posted by him – penalizing him financially for their impropriety.

To prevent payment to a non-performing user/recruiter for this product, please contact us at trades@loturas.com and we will cancel payment to the recruiter before the funds are paid out.

Negative Apply Price

Recruiters may incentivize applicants to interview for posted jobs with a Negative Apply Price; i.e. an amount of money paid to a desirable candidate in return for an interview across the network to be conducted through a masked phone call or videoconference. Upon accepting an interview with an applicant, an amount equal to the recruiter’s Negative Apply Price is pre-authorize on the recruiter’s credit card – Loturas does not pay the applicant at this point. The platform will then notify the user acting as an applicant that another user acting as a recruiter has offered them an amount of money equal to the Negative Apply Price in return for conducting an interview at the recorded date and time. In order to eliminate the risk of non-performance on behalf of the applicant, monies will be paid with a lag of 24 hours after the event/interview recorded in the application’s calendar.

To prevent payment to a non-performing user/applicant for this product, please contact us at trades@loturas.com and we will cancel payment to the recruiter before the funds are paid out.

Thiel Price

This product allows recruiters to sell jobs and applicants to buy jobs across the network.

A Thiel Price allows a recruiter to price a job and sell it on the platform. An applicant may avoid all labor market competition and bureaucracy by simply paying the Thiel Price. The platform requires recruiters setting Thiel Prices for their positions to declare a Start Date and a Date of First Compensation. Thiel Prices are paid to recruiters 48 hours after the Date of First Compensation. In order to eliminate the risk of the applicant/buyer getting fired by the recruiter before being first compensated for his time and work, payments to recruiters are lagged.

To prevent payment to a non-performing user/recruiter for this product, please contact us at trades@loturas.com and we will cancel payment to the recruiter before the funds are paid out.

Hiring Bonuses

This product allows recruiters to incentivize applicants into accepting a posted job. The platform requires recruiters setting Hiring Bonuses for their positions to declare a Start Date. Hiring Bonuses are paid to applicants 48 hours after the Start Date. In order to eliminate the risk of the applicant/seller not showing up to work on the Start Date, payments to the applicant are lagged.

To prevent payment to a non-performing user/applicant for this product, please contact us at trades@loturas.com and we will cancel payment to the recruiter before the funds are paid out.

Happy Trading,
The Loturas Team