1. Introduction

Vendor Cover ("we," "us," or "our") is dedicated to safeguarding your privacy. This Privacy Policy outlines how we collect, use, disclose, and protect your personal information when you access or use our website and services. By using our services, you agree to the collection and use of your information in accordance with this policy.

2. Information We Collect

  • Personal Information: This includes information such as names, addresses, email addresses, phone numbers, identification documents, and any other information needed for account creation, verification, and compliance with Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations.

  • Transactional Information: We collect and store details regarding your transactions on our platform, such as transaction amount, currency, and details of the counterparties involved. This data helps us ensure the security of your transactions and enables us to offer secure escrow services.

  • Financial Information: For KYC and AML compliance, we may collect certain financial data, including your credit and payment history, which will be securely stored and handled in compliance with applicable laws.

  • Device and Usage Data: We collect data about the device you use to access our services, including IP address, browser type, operating system, and usage patterns. This information helps us to enhance security, detect unusual activities, and improve our platform’s performance.

3. How We Use Your Information

  • Service Provision: Your information is primarily used to provide, maintain, and improve Vendor Cover’s services, including facilitating high-value transactions and enabling the decentralized trust partner system.

  • Identity Verification and Compliance: We use personal and financial information to verify identities, comply with regulatory obligations (KYC and AML), and ensure secure, compliant transactions.

  • Communication: We may use your information to contact you with updates, security alerts, and administrative messages related to your account or transactions.

  • Fraud Detection and Prevention: To protect our platform and users, we actively monitor for and mitigate risks of fraud, abuse, and other security threats.

  • Data Analytics: We may analyze data to understand platform usage, improve customer experiences, and develop new features and services.

4. Information Sharing and Disclosure

To provide a seamless and secure experience, we share certain data with our trusted third-party partners, each carefully selected to meet high standards of data security and privacy. Here’s a summary of how we may share your information:

  • Third-Party Service Providers: We collaborate with companies such as Jumio for identity verification, Project44 for logistics insights, Chainlink for blockchain data verification, and Equifax for credit data. These providers are authorized to use your data only as necessary to provide the services we request from them.

  • Legal and Regulatory Obligations: We may disclose information if required by law or in response to valid legal requests, such as subpoenas or court orders, or to comply with regulatory authorities.

  • Insurance and Legal Partners: We work with companies like Baker McKenzie, Latham Watkins, R3 Corda, and Berkshire Hathaway Specialty Insurance (BHSI) to protect and facilitate transactions. They may have access to specific data necessary to provide insurance, legal, and compliance services.

  • Platform Improvement and Security: We may share aggregated, anonymized information with partners to improve service performance, conduct research, or strengthen platform security. This data cannot be used to identify individuals.

5. Data Security

Vendor Cover employs industry-standard security protocols to protect your information from unauthorized access, disclosure, and misuse. These measures include encryption, multi-factor authentication, secure servers, and continuous monitoring. While we strive to protect your data, please note that no system can guarantee absolute security.

6. International Data Transfers

Due to our partnerships with global entities, some of your data may be transferred and stored outside of your home country. In such cases, we ensure that appropriate data protection measures are in place, consistent with applicable data protection regulations (such as GDPR, if applicable).

7. Your Rights and Choices

Depending on your jurisdiction, you may have rights regarding your personal data, such as the right to access, correct, delete, or restrict the processing of your data. To exercise these rights, please contact our Data Protection Officer at [Contact Information].

8. Retention of Information

Vendor Cover retains your information only as long as necessary for the purposes outlined in this Privacy Policy, including legal, regulatory, or contractual obligations.

9. Changes to This Policy

We may update this Privacy Policy periodically to reflect changes in our practices or legal requirements. The latest version will be posted on our website, with the revision date clearly indicated.