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These “owner options” outline the current rules and regulations for the use of your crowdfunded purchase, located at https://tribi.app/.

By purchasing “pieces” of the artist/ vendors listed product you accept these conditions as the result of your purchase. Do not continue to use TRiBI if you do not agree to take all of the terms, conditions and rules stated on this page.

The following terminology applies to these owner options, and all Agreements: “Client”, “User”, “Owner”, “Contributor”, “Artist”, “Crafter”, “Vendor”, “You” and “Your” refers to you, the person log on this website and compliant to the Company’s terms and conditions. “The Company”, “Ourselves”, “We”, “Our” and “Us”, refers to our Company. “Party”, “Parties”, or “Us”, refers to both the Client and ourselves. All terms refer to the offer, acceptance and consideration of payment necessary to undertake the process of our assistance to the Client in the most appropriate manner for the express purpose of meeting the Client’s needs in respect of provision of the Company’s stated services, in accordance with and subject to, prevailing law of us. Any use of the above terminology or other words in the singular, plural, capitalization and/or he/she or they, are taken as interchangeable and therefore as referring to same.

ownership and payment Rules

It is understood that this is a contribution based vendor (artist & crafter) payment system. You become an owner and part of the decision process for the product you have bought a “piece” of but are not guaranteed possession of the product you are contributing a payment to. It is understood that you are using this payment for partial ownership of the product listed and that as a part owner you agree to give up decision making to the “majority vote” (see VOTING section for details) of all contributors for the listed product. Ownership of the listed product you are paying for is only guaranteed once the artist agrees to the total amount collected through the crowdfunded, contributive payments. If the full amount necessary to pay for the listed product is not reached the artist has the choice of whether to sell the listed product for the amount raised or to refuse to sell the good and return the payments made by each user/ contributor. For more information on refunds please see our Refunds and Returns page.

VOTING

Voting is only the right of contributors/ owners who pay for part of the product being listed for sale by the artist or crafter. The vote for the product being sold by the artist to the collection of owners/ contributors is considered a “majority rules” vote. Majority rules is defined as, “what the majority decides through single votes against the total vote count, defined by the number of pieces sold”. A majority vote is awarded by a difference of 1 vote minimum. I.E. If there are 100 pieces of a product purchased, there are 100 votes. The option that receives the most votes by a count of 1 vote more than all other options than that option is declared as the “majority vote”. Vote Counting is based on a per “piece” basis. If the artist is selling 100 pieces then there are 100 votes. If the contributor purchases 10 pieces out of that 100 total they will receive 10 votes. As of 05/15/2023 and until further updated the votes will decide whether the sold product is to be placed into storage for safe keeping and a future sale date and/ or exhibition date (for details see STORAGE section below) or whether the sold product is to be entered into a randomized selection algorithm which randomly chooses a sole possessor and owner of the sold product from the list of contributors/ owners that purchased the product (for details see SOLE OWNER SELECTION below). Your vote is taken during the payment process and is only counted once the product is considered sold, in accordance with the rules set forth (see the RULES section for details). As the owner and contributor you understand that you are forfeiting your right to a refund if a “majority rules” decision is made that goes against your vote. For more information on refunds please see our Refunds and Returns page.

STORAGE option

In the case of a majority vote to place the purchased product into storage. TRiBI guarantees the safe keeping of the product until all owners have made a decision to either sell the product or choose a sole owner and possessor of the product by way of another “majority rules” vote. E-mails for a new vote will be sent annually from the date of the original sale. TRiBI agrees to maintain insurance on the sold product until the time of a sale or the use of an algorithmic randomized selection of a single owner/ possessor has been reached. For further details or inquiries on Storage please reach out to TRiBI via our Contact Us page.

SOLE OWNER SELECTION

In the case of a majority vote to place the purchased product into a randomized selection algorithm. TRiBI guarantees the security and integrity which which the algorithm randomly chooses a sole possessor and owner of the sold product from the list of contributors/ owners that purchased the product. The algorithm has been created by TRiBI and guarantees the process to be without any external influence. No person or internal influence has access to the cryptographically secure random sole owner generator.

notice of owner LEDGER

TRiBI agrees to keep a ledger of all product sales, owners, contributors and votes available upon subpoenaed request. TRiBI holds the privacy of its users with the upmost regard. See our Privacy Policy page for details.

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