Parcero whitepaper 1.1.pdf · PARCERO allows you to choose what, when, and where you want to...

Parcero

Ver 1.1August 2018

ico.parcero.ioFlash Delivery Platform

1. What is PARCERO?

2. Summary

3. Market and trends

3.1. Market problems and challenges

4. PARCERO platform: advantages and technology

4.1. Smart contract and Blockchain

4.2.4.2. Mobile APP

4.3. End to End GPS tracking system

5. Road map

6. Commercialization

6.1. Risks

7. Business model

7.1. Financials

8.8. Value proposition

9. Project team

10. PARCERO token and ICO details

11. PARCERO terms and conditinios

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Table of Contents

ico.parcero.io

Parcero.io - Whitepaper - v1.1Parcero

PARCERODISCOVER TOMORROW’SSOLUTIONS TODAY

PARCERO – is a revolutionary peer-2-peer (P2P) flash delivery platform driven by complex technology to meet customer’s flexible needs. Platform will bring together thousands of senders with couriers. Incorporating Blockchain technology and AI algorithm the platform provides flexibility and real-time process control for managing your package deliveries.

PARCERO offers flash parcel delivery with instant door to door delivery and last minute changes. Avoid the hassle for courier search, let us do the work. PARCERO allows you to choose what, when, and where you want to deliver.

PARCERO allows anyone to be a courier and deliver. On your feet, on a bike, with your car. Or just in case you are going in a same direction PARCERO will find the right package for you to deliver and earn some money.

PARCERO guarantees the best delivery price. By avoiding various costs incurred by big organizations such as DHL, DPD, or UPS, we are able to create a low cost versatile organization having shared assets at core of PARCERO operations. Furthermore, the platfrom will have a cost sharing feature that will allow senders to save on their parcel deliveries.

PARCERO solves market problems such as inflexible deliveries, paperwork, and large time delivery windows. We aim to make instant delivery a market norm by disrupting CEP sector. As disruption goes hand in hand with technological innovation, at PARCERO we utilize technology to make parcel deliveries more efficient and convenient.

PARCERO provides a secure and reliable platform keeping your data safe. Blockchain and smart contracts enable a safe and reliable ecosystem that manages your deliveries, contracts, and payments.

PARCERO – DISCOVER TOMORROW’S SOLUTIONS TODAY. The platform is an innovative and technology driven business model that will become the future of the Courier Express Parcel (CEP) market. With rising customer demands we see speed and flexibility as key solutions for parcel deliveries.

WHAT IS PARCERO?

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The platform incorporates Smart Contact that makes paper and time, consumed going through contracts, obsolete. To send a package you only have to use PARCERO APP and choose the mode of transport, wait a few minutes, say HI to your courier and your parcel is on the way. The APP also offers End-to-end GPS tracking and last minute changes that will make all of your deliveries easy to follow and control.

PARCEROPARCERO focuses on solving the inefficiencies of the parcel industry and many problems that comes with it. Most of the limitations of the current system come from intermediaries and big and ineffective organizations with inefficiencies at last mile stages. Lack of flexibility, transparency and control, large delivery windows and contracts are just a few problems of today’s Courier Express Parcel (CEP) industry. In response, PARCERO APP will provide a flexible, transparent, and speedy delivery service by equipping couriers and senders with the right set of tools.

We oversee that as a response to such problems, the European CEP market will adapt and industry dynamics will shift bringing P2P deliveries to gain 8% market share in Europe by 2025 – which will amount to €7.42 BN. The shift is brought by growth in e-commerce, and rise of deliveries in C2X and B2C segments, which require fast reaction, flexibility, and same-day deliveries.

OneOne of the target markets of PARCERO is Benelux. Take for instance the Netherlands, which has experienced an outstanding market growth over the last years and has 80% of its population shopping online. Cities such as Amsterdam, Rotterdam, the Hague or Utrecht have quite dense population, small area, and great infrastructure for all modes of transport. The launch of the business model will be based firstly in the Baltics - Lithuania, Estonia, Latvia. For instance, Lithuania is a business friendly country not only for young entrepreneurs and skilled professionals, it is also trusted by high calibercaliber companies. This country, full of young people, ambition, energy, skill, and talent, is equipped with Europe’s fastest internet connection and rapidly growing startup ecosystem and the go-to hub for blockchain start-up acceleration.

Sales will focus on P2P deliveries, C2X businesses and attracting their customers to install the PARCERO APP. To attract partner drivers we will provide them a good possibility to earn by making parcel deliveries, and this will make intermediaries obsolete eventually leading to low prices for instant delivery.

B2CBusiness-to-Consumer

P2PPeer-to-Peer

B2BBusiness-to-Business

C2XConsumer & Small Business

8%

36%

35%

21%

EU

Europe CEP market by 2025: €90 billion

2. SUMMARY

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In Europe the CEP market has experienced fast growth and change in sector dynamics, particularly with number of deliveries shifting from B2B to C2X and B2C segments, which require fast reaction, flexibility, and same-day deliveries;

Taking in account UBER’s success and current market share in Europe (~30%), we see that CEP dynamics will shift in a similar direction and by 2025 peer-2-peer (P2P) deliveries will take up 8% of the European market, that is €7.42 BN in value terms. The shift is brought up by the changes in customer preferences throughout Europe demanding more flexible and speedier service; exceptional growth in e-commerce leading to lack of capacity in the market; and rise of deliveries in C2X and B2C segments.

PARCERO responds to changing customer preferences by providing technological support for people and businesses that are aspiring to serve the expectations of the customers to deliver with flexibility and speed.

Netherlands is an ideal market for PARCERO platform. High level of maturity of the e-commerce sector, highly developed infrastructure and high bicycle/scooter traffic in such cities as Amsterdam are key factors for the success of PARCERO platform. The Dutch CEP market has experienced tremendous growth over the last few years the market gained momentum worth €240 M reaching €1.2 billion and 318.4 million deliveries.

2013 2014 2015 2016 2017

400

300

200

100

0

Millions of parcells

201.5 218.4 240272.3

318.4

No. Of domestic parcel deliveriesin the Netherlands

In a recent survey, high ranking 194 logistics executives and 129 supply chain executives from retail throughout Europe were asked to list preferences on “What are your customers demanding most from their last milemile services?” Around 65% of respondents listed delivery flexibility as no. 1 customer preference, while 61% noted speed of delivery as no. 2 and real-time visibility was listed as no. 3 customer preference by 51% of the respondents. of the respondents.

NO. 5SPECIFIC DELIVERY TIMESLOT SELECTION

OTHER

PARCERO - WHERE YOU WANTAND WHEN YOU WANT

PARCERO GUARANTEES

PARCERO PROVIDESFLASH DELIVERY

NO. 2SPEED DELIVERY

NO. 4DELIVERY OPTIONS

PARCERO LET YOU CHOOSE DELIVERYOPTIONS THAT FITSYOUR NEEDS

NO. 3REALTIME VISIBILITY

PARCERO WILL GIVE YOU MORE

NO. 1DELIVERY FLEXIBILITY

65%

61%

51%

45%

40%8%

Share of respondents in %

European customer preferences on last mile services 2017

B2C

B2B

C2X11%

15%

74%

2010€48.65 BN C2X

B2C

B2B15%

26%

59%

2015€59.17 BN

C2X

B2C

B2B

19%

35%

46%2020€72.3 BN

B2C

C2X

B2B

P2P

35%

21%8%

36%2025€90 BN

3. MARKET AND TRENDS

Size and growth of European CEP market

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The European market is not just large, it is also highly dynamic, with growth rates in 2017 ranging between 7 and 15 percent in developed markets such as Germany, the Netherlands, and United Kingdom. This means that, in these markets, volumes could double over the next ten years.

ThisThis creates challenges precisely at the last mile stages with which many CEP companies are struggling, as they often experience significant labour cost disadvantages and therefore competitive disadvantages. Furthermore, growth and development of e-commerce and changing consumer preferences manifest capacity problems that CEP companies face. “McKinsey & Company” notes that almost 30 percent of consumers in Europe are willing to pay significant premiums for the privilege of same-day or instant delivery. This creates further pressure and point to limitations of the existing delivery system.

These problems make same-day and instant delivery a hassle for companies like DHL, UPS, TNT and costly for end customers. Biggest CEP market players are big and inefficient organizations with numerous sorting premises, very broad network of couriers, and strategy that has not yet evolved to provide instant delivery service as a norm. Consequently, this puts constraints on consumers with large delivery time windows making same-day delivery service inconvenient, not to mention, leaving customer without any ability to make last minute changes or live-track its parcel.

PARCEROPARCERO aim is to solve these challenges by providing the right set of tools to the hand of the customers. The mobile APP connects anyone with a particular mode of transport that can solve any parcel receivers’ needs. Searching for courier becomes a time-saving, paperless, and easy process.

Intermediaries

Human resource and capacity issues

Big and inefficient organizations

Large delivery time windows

Contracts

Lack of flexibility and transparency

3.1 MARKET PROBLEMS AND CHALLENGES

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Smart Contract and BlockchainAlong with blockchain technology, smart contracts open new horizons to conduct transactions and agreements. In simple terms, no paper is required, it is fast, reliable, and secure.

FlexibilityThe platform makes parcel deliveries flexible as never before. No more large time windows as you have full control with last minute changes. Wherever you are, your parcel is on its way.

Flash deliveryPARCEROPARCERO platform makes courier search quick and easy. By saving your time for search and providing the ability to overcome inflexible delivery schedules, PARCERO can provide Flash delivery for your parcels.

Peer-2-Peer NetworkSharingSharing economy offers flexibility and

efficiency to consumers – in this case

connecting thousands of partner couriers

with senders. The network will have a review

and ratings system, and network effects will

kick in rendering the platform more

popular.

Fair pricing TheThe platform will always provide you with a fair price, based on kilometers driven. Whether it’s a small object or a massive one, we will offer you the best price. Platfrom will also incorporate cost sharing feature that will allow a driver to pick up one additional parcel, this way saving costs for senders.

Mobile APPThe mobile APP is very easy to use, specially designed for consumer to save time. The APP is transparent and has an End to End GPS tracking system, allowing you to take control of your time while waiting for your parcel.

4.1 SMART CONTRACT AND BLOCKCHAIN

SmartSmart contract and Blockchain makes using the platform easy and reliable. The platform enacts fast and secure agreements between users once a unique QR code has been scanned by the courier who will deliver the package, contracts are executed within seconds. The smart contract makes another transaction to the blockchain when the receiver scans the QR code and the smart contract has been executed and the data is recorded in the blockchain. Furthermore, you don’t need to give away any of your personal information, because all important data is stored in a unique QR code. Such an escrow system between user and courier makes PARCERO a reliable delivery platform.

4.2 MOBILE APP

It’sIt’s an easy to use APP that connects clients, who need quality delivery services with independent couriers, who will deliver their packages fast and safe. There is no need to worry about paperwork or ID’s because of smart contract. Also, identity of the users, businesses, and couriers is checked by a thorough KYC process, so the sender can rest assured that the package is safe.

4.3 END-TO-END GPS TRACKING SYSTEM

YouYou can track the delivery process on your screen in real time. The system incorporates live tracking, which also makes for a possibility to make last minute delivery changes. This makes the delivery process transparent and you get all the control of your time because you can track your package on your screen and accept it the moment it arrives.

4. PARCERO PLATFORM: ADVANTAGES AND TECHNOLOGY

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2017 Q4Idea conceptualization

Inviting additional team members

2018 Q1Made 100,000 EUR self-investmentMarket research

2018 Q2Bussines model developement

Development of websiteWhitepaper draft

2018 Q3Website launchWhitepaper publishedHunting for partnerships

2018 Q4Development of mobile APP

Token sale startHuman resources planning

2019 Q1Token sale endExchanges listingMobile APP testing

2019 Q2Platform alpha launch in VilniusBusiness-driven development

2020 Q1Launch of operations in Amsterdam

2019 Q3Developement of Netherlands market entry strategyDevelopement continues in all directions

Full integration into delivery service marketAPP testing in other Europeans cities

2017

2018

2019

2020

2021-2022

5. ROADMAP

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With the acquisition of capital, the ICO enables us at first to enter two markets, Lithuania and Netherlands, that are regional point of entries for PARCERO platform. PARCERO plans to spread through out Europe – at first Benelux and Baltics, then Western Europe, Scandinavia, and further.

PARCERO ongoing phase of commercialization is the development of PARCERO platform. Mobile APP development, more specifically user side/driver side and back-end development; infrastructure development. Testing the APP for bugs, perfecting route calculation and optimization will begin by end of 2018.

NextNext step will be aggressive marketing for partner courier and user acquisition for the platform. Execution will be done via traditional offline channels (banners, radio etc.) targeted at partner couriers and online channels (social media) to obtain user base for the APP. PARCERO platform alpha launch is set at 2019 Q1.

Initial launch of operations in Vilnius will require a rental lease of cars - PARCERO will have fleet of 15 various type of vehicles, all carrying PARCERO flag. After launch PARCERO will have an intensive year of business driven development to prepare the platform for Amsterdam, and other European cities.

PARCERO aims to obtain a significant share of European CEP market. But before scaling we need to first do what is un-scalable, that is focus on our product development, pay close attention to our users and drivers – learn what they want, naturally growth will follow. We at PARCERO understand that most innovative leaps are going to be when we are still small. Therefore, our testing phase in Vilnius is of crucial importance for development of our product, afterwards we can properly scale.

Theft, damage and other risk associated withparcel delivery.

Courier transport vehicle risks.

Technological risk.

Risks associated with partner couriers and senders.

CarVertical vehicle history checks to ensure safeand sound transportation

Cloud computing solutions, servers running 24/7.

Diligent KYC and verification proceduresClosely monitored social ratings system andsuspicious activity reporting.

Third party cargo insurance.Liability insurance.

RISKS RISK MANAGMENT

PARCERO has risk management mechanisms in place to tackle possible problems:

“

” - Elvis Januškevičius, CBDO

6. COMMERCIALIZATION

6.1 RISKS

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PARCERO business model is based on a sharing principle, where partner couriers can use their mode of transport for delivering parcels. The system is effective and flexible cost wise because the model avoids various costs associated with acquiring vehicles, warehouse costs, labour and social security tax expenses, depreciation and amortization costs.

Financial model assumptions are based upon acquisition of soft cap ~ 3M EUR. 1

Main source of income is business commission fee equal to 20% of delivery price. By 2023, PARCERO aims to reach 7% of Vilnius city deliveries and 5% of Amsterdam city deliveries - equal to ~ 1.8 M parcel deliveries in total (based on 2017 statistical data);

Besides pay-outs to couriers main business development costs will be mobile APP costs: front end and back end programmers; Google API costs. These amount to 70% of direct costs;

Marketing costs amount to 35% of operating cost; around 40% of operating cost are associated with human resources;

In 2019, PARCERO operational team will consist of 10 full time employees (FTEs), we aim to grow up to 40 FTEs in 2023. The goal is to become a flexible organization thus we will outsource most of our administrative operations; The goal is to become a flexible organization thus we will outsource most of our administrative operations;

According to Estonian tax law retained earnings are not taxed, during development of the platform PARCERO will not withdraw any profits, and will use 15% of profits to buy CER token for reserve, rest of profits will be reinvested for business growth;

By initially focusing on Vilnius and Amsterdam cities PARCERO will be able to construct an effective flash delivery platform, which can be easily adapted to any market need.

7.1 FINANCIALS

EUR

SALES

GROSS PROFIT

OPERATING EXPENSE

EBITDA (NORMALISED)

EBIT

NET PROFIT

Pay-outs to couriers 383.802

-23% 12% 15% 15% 17%

219.200 429.360 534.896 715.040 752.460

-87% -9% 3% 4% 11%

6.400 12.320 14.080 22.240 25.280

- - - - -

- - - - -

-89% -9% 3% 4% 11%

98.256 218.891 278.910 417.044 429.805

204.248

2.384.959

327.870

5.458.017

426.097

8.457.025

581.022

16.338.347

622.891Direct costs

Sales & Marketing

Margin%

Margin%

Margin%

Depreciation & Amortization

interest

Income tax

Administrative

479.752

-108.298 368.369 1.038.407 1.533.234 3.461.696

317.456 648.251 831.806 1.132.084 1.182.265

-419.354 -267.562 238.682 423.390 2.304.711

-425.754 -279.882 224.602 401.150 2.279.431

-425.754 -279.882 224.602 401.150 2.279.431

3.081.198 6.922.521 10.571.281 20.422.934

2019 2020 2021 2022 2023

7. BUSINESS MODEL1

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Token Economics

Bonus payouts anddiscounts will be settledin CER tokens.

PARCERO will repurchase token worth 15% of yearly profits, putting back tokensinto circulation.

Token holding incentives for driversand senders: "more profitable ordersfor holders", "fastest and top ratedcouriers", "cheaper deliveries".

BONUSES & DISCOUNTS

REFERRALS &ACHIEVEMENTS

TOKENBUYBACK

COMMUNITY FEEDBACKS

TOKENHOLDING

USAGE &DEMAND

Achievments and other benefits including refferals will be rewared only with CER tokens.

Reliable community feedbacks and high reputational scores for drivers will be rewarded in CER tokens

Increased usageand demand of CER token

FOR BUYERS

Value proposition is to increase

demand of CER and grow PARCERO

platform user base;

BonusBonus system, discounts and features

for users will lead to increased demand

of CER;

Referrals, achievements, holding

initiatives for drivers will lead to higher

demand of CER;

EstonianEstonian tax laws note that retained

earnings are not taxed, instead of

paying income tax, 15% profits will be

used to buy CER token to increase

demand of the currency;

FOR CUSTOMERS

Low cost flash delivery service;

Flexibility of delivery due to live tracking

system with last minute changes;

Fast search for courier and narrow

delivery windows;

BBonus system for referrals;

Discounts during holidays and other

sales periods;

Easy transportation of unusual items

Variuos payment options including

crypto curencies;

FOR COURIERS

Flexible working hours;

Earn money by delivering parcels with

any kind of transport you have;

Bonus payouts for invited courier

drivers and for delivered volume;

Ability to build network of clients;Ability to build network of clients;

Save on transport costs such as gas;

Reap benefits of crypto currency;

Instant payment to your debit/credit

card;

Advantages

At PARCERO we see the main key to success is to create value to all parties of our business model – Buyers, Customers, and Couriers. This strategic aim will be achieved via our devised token economics model.

PARCERO token will stimulate growth and popularity of the platform and flash delivery service. Through various benefits we will provide our communities with tokens and incentives to acquire and use PARCERO token. This will lead to network effects. The incentives provided to senders and couriers will endorse involvement, grow user base, and will increase the usage and demand of CER token.

8. VALUE PROPOSITION

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9. TEAM

10 years of experience working as a full stack developer with BSc degree in software engineering.

Software DeveloperAudrius Košys

Professional artist and passionate communication and PR professional with experience in many fields from music and fashion to social-media marketing and publishing. Vaida’s keys to smooth communication and marketing are simplicity, accessibility and keeping things fun.

Community ManagerVaida Kalkauskaitė

Passionate performance digital marketing specialist with over 7 years of experience. Povilas helps for companies to bring more leads, sales and scale their businesses into another level by using sophisticated modern data-driven research techniques and results orientated methods.

Performance marketing specialistPovilas Riauba

Professional lawyer with 8+ years of experience working with a wide range of cases and clients in corporate, IT, white-collar-criminal and GDPR law. He successfully defended real estate and business giants.

Legal CounselVytautas Budnikas

Augustinas is a cyber security researcher with more than 13 years experience in the field. Augustinas consulted a number of Fortune 200 listed and aviation companies from across Europe.

Chief Security OfficerAugustinas Košys

Innovation driven business strategist and professional. With gained experiences from companies such as Bloomberg, Euromonitor, Thompson Reuters, Plaza Venture Partners, Elvis excels in business growth and development, market intelligence and private equity. Supporter and advocate for the cryptocurrency and blockchain movement.

Chief Business Development OfficerElvis Januškevičius

Martynas is a technology maven always hungry for code, ideas and passionate about everything web, mobile and technology. In his 10+ years of working with hard-to-solve problems, he gained experience in technologies such as PHP, Java Script, C#, React.js, ReactNative and more. His latest passion is blockchain technologies and smart contracts.

Co-founder & Tech LeadMartynas Ramonas

Pixel perfect passionate developer with more then 10+ years of experience. Creative designer and technology junkie who used to run social media bussinesses with an over 25 million userbase. Innovation addict and blockchain enthusiast . While managing a team, he always works on making their everyday tasks easier to accomplish and inspires them to live up to their potential.

Co-founder & Project LeadJurgis Mittas

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40% 25% 15% 10% 5% 5%

Marketing & BusinessDevelopment

Platform Development

Operating

Reserve

Legal & Accounting

Cargo Insurance

Allocation of Funds

75% 10% 5% 5% 5%

Reserve

Team

Bounty

Advisors

Public Sale

Distribution of Tokens

Soft Cap:

56 600 000 CER(~3.000.000 EUR)

Hard Cap:

675 000 000 CER(~16.000.000 EUR)

Token symbol:

CER

Token type:

Utility

Total supply:

900 000 000 Tokens

Sale price:

1 ETH = 6 200 CER

Minimum Contribution:

0.1 ETH

Maximum Contribution:

400 ETH

Technical Specifications:

Ethereum ERC20

Accepted Currency:

ETH, BTC

All unsold tokens will be moved to reserve, no tokens creation after ICO end.1

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10. PARCERO TOKEN AND ICO DETAILS

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General termsThese Terms and Conditions (hereinafter T/S) govern Your (hereinafter – Buyer) use of the PARCERO website ico.parcero.io (hereinafter PARCERO) and PARCERO Token (hereinafter "CER") acquisition.

ByBy using PARCERO website and purchasing CER, the Buyer confirms that he/she is familiar with and unconditionally agrees to these T/S. If the Buyer disagrees or agrees in part with these T/S, he is not entitled to use PARCERO or to acquire CER. If the Buyer disagrees with these rules after having started CER purchase procedure, he/she must immediately terminate the procedure.

TheThe company managing PARCERO reserves the right to modify these T/S in the future by notifying the Buyer by his specified e-mail address and on PARCERO website. The change in T/S will take effect from the date of their publication on PARCERO website. From the moment T/S are published, the Buyer undertakes to comply with the revised T/S. T/S and PARCERO Privacy Policy constitutes the entire agreement between PARCERO and the Buyer for the use of the PARCERO website and the purchase and distribution of CER, or replaces all previous existing agreements between PARCERO and the Buyer.

Terms usedTerms usedAgreement – agreement for usage of PARCERO platform and for acquisition of CER made between PARCERO and the Buyer upon his/her registration. Platform – PARCERO is peer-2-peer platform, where the user orders parcel delivery services from Couriers, and tracks order execution. Login to the platform can be made using mobile application, PARCERO web site, PARCERO chat sites.Courier – a registered and approved courier within PARCERO platform providing parcel delivery services.User – a user of PARCERO platform who orders parcel delivery services from registered Couriers on PARCERO platform.BuyerBuyer – CER purchaser.CER – a token based on crypto currency sold to a Buyer to attract donations for PARCERO platform.

Under these terms and conditions, PARCERO undertakes to sell CER token to the Buyer, and the Buyer undertakes to pay PARCERO for CER token in accordance with the outlined terms and conditions. All other legal relationships related to the use of PARCERO website and the acquisition of CER are governed by these T/S.

CER1. The purpose of purchase/sale of CER is to finance the development of PARCERO platform and PARCERO activities.

2.2. In order to acquire CER, the Buyer has to use Token sale function on PARCERO platform. Buyers settle for the purchase of CER with crypto currencies.

3. CER can be purchased directly from PARCERO using the Token sale function, and after the Token sale function closes, from specialized token exchanges.

4.4. In order to purchase CER, the Buyer will place an order on PARCERO platform and, if necessary, provide additional identity information (KYC) or any other relevant information. PARCERO, upon receipt of the above information, decides either to sell CER to the Buyer or to refuse to sell CER. PARCERO refuses to sell CER to the Buyer in the event that the Buyer has provided the KYC with either incomplete or false information, or the Buyer disagrees with T/S.

5. The Buyer has the right to resell the CER or use it to pay for parcel delivery services provided on the PARCERO platform.

6.6. CER does not confer rights to the Buyer or any other person holding CER any rights to PARCERO management company, PARCERO trademark, PARCERO intellectual property, CER does not confer any right to dividends, interest, voting rights or any right to participate in the management of PARCERO's company, decision-making processes, and meetings.

7. CER is not considered to be a stock, bond or any other security, currency, electronic payment instrument, or investment note. CER has no purchasing power or value, as understood by the law governing securities, CER does not confer any property or property rights other than those specified in T/S paragraph 5.

8.8. A Buyer who has acquired a CER is not entitled to return it to PARCERO.

11. PARCERO TERMS AND CONDITIONS

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PARCERO and Buyer acknowledgements9.9. By acquiring the CER, the Buyer confirms that he/she has read and agrees with the T/S, understood their significance, assessed the potential costs, risks or benefits, and willingly concludes the CER purchase contract. A Buyer, who finds the provisions of T/S unclear, has the right to ask PARCERO for additional information or clarification of the unclear provisions. If PARCERO has not received any requests for information or clarification from the Buyer, it is considered that the Buyer fully understands and agrees with all T/S, understands the principles of crypto currencies, blockchain technology, Smart-contract systems, ICO, and has assessed the potential risk.

10.10. The Buyer confirms that he/she is aware that the funds received from sale of CER will be used for development of PARCERO platform and activities, for developing mobile applications, upgrading the platform, advertising, marketing, personnel recruitment, and insurance.

11.11. The Buyer understands and acknowledges that the activities developed by PARCERO may be unsuccessful, i.e. will not attract the required amount of investment or invest the received funds from sale of CER and the desired result will not be achieved - due to business risk or due to market environment making PARCERO activities and the platform not popular, meaning consumers will not use it. The Buyer also acknowledges that he/she understands that PARCERO activity is exposed to business risk, and run by business decisions that may result in losses or lead to PARCERO insolvency, and that PARCEROPARCERO may no longer pursue the development and improvement of its activities and platform due to loss or economic situation.

12. The Buyer confirms and understands that as indicated in cases of T/S paragraph 11, the Buyer is not entitled to claim repayment of funds invested in CER and also does not have the right to claim damages if PARCERO activity is suspended, became unsuccessful, and unprofitable. The Buyer assumes full risk of acquiring CER and is aware that, including, but not limited to cases indicated on T/S paragraph 11, Buyers have no claim against PARCERO for repayment of funds invested in CER, possible losses due to underestimation of risk, etc. For this reason, the Buyer must, prior to acquiring CER, consider all thethe risks and possible costs associated with acquisition of CER, also has the right to receive consultations as set out in T/S paragraph 9.

13. CER is created by blockchain process technology, which is an open source IT protocol, thus PARCERO assumes no obligation for the proper operation of the blockchain. PARCERO will also not be held liable if the Etherium, on which basis CER is issued, inactivity or inappropriate performance would cause CER to be inactive or malfunction.

14. CER is distributed by computer equipment and can only be acquired with crypto currencies.

15. The Buyer is liable for all losses incurred by him/her or any third party as a result from improper use of CER.

16. PARCERO is not responsible for any loss of Buyer’s CER or force majeure circumstances which constrain or prevent the Buyer from using CER. PARCERO is also not liable for Buyer’s actions, market practices or other circumstances of force majeure that impede the proper performance of the services provided by the PARCERO platform, use of CER or trade of CER in exchanges, nor PARCERO is responsible for any computer attacks directed against the PARCERO platform and damage caused from such attacks.

17. PARCERO employees or on civil contract basis employed people are allowed to use CER only if they do not directly affect the change of CER value.

18.18. It is known to the Buyer that the activities of PARCERO, its strategic directions, T/S may be unilaterally changed by PARCERO based on the requirements of new and currently unknown legislation. In such case, PARCERO is not responsible for any losses incurred by the Buyer as a result of such changes.

19. In the event that the Buyer decides not to purchase CER, after considering the potential risk, he must immediately terminate the CER acquisition process.

20.20. PARCERO informs on its website all Buyers and Platform visitors of all relevant or strategic decisions taken in its activities. Buyers and Platform visitors are constantly acquainted with the progress of PARCERO activities, their results, achievements, stages of activities, are informed about planned investments, strategic business decisions, and the use of funds.

KNOW YOU CUSTOMER (KYC)21. A Buyer who wants to buy CER must complete a procedure on PARCERO platform identifying the Buyer and thus ensuring prevention of money laundering and terrorist financing (hereinafter referred to as "KYC").

22.22. It is known to the Buyer that his/her request to acquire CER will only be fulfilled once the Buyer fills in the KYC form correctly and with correct data. If the Buyer refuses to complete the KYC form, PARCERO reserves the right not to sell CER to such Buyer.

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23. It is known and understood by the Buyer that completing and submitting KYC form is a voluntary and optional procedure. PARCERO ensures that all personal data of the Buyer submitting the KYC form will be stored and processed in accordance with Regulation (EU) 2016/679 of the European Parliament and the Council.

PARCERO and CER features24. Information provided by T/S, PARCERO Whitepaper and other information distributed through PARCERO platform may not be considered as an investment prospectus or investment proposal, and information provided on PARCERO platform and legal documents may not be considered an incentive or recommendation to invest in CER.

25.25. The direct purpose of CER is to use it on the PARCERO platform to settle parcel delivery services. The CER holder can resell the token in specialized exchanges.

26. PARCERO is not a financial institution (bank, financial intermediary, etc.), and its activities do not require any permits and are not subject to the legislation governing activities of financial institutions.

27. In the event that PARCERO is checked, audited or inspected by supervising financial institutions, this circumstance may affect the activities, development and continuity of PARCERO.

PARCERO obligations28. 28. PARCERO will take all possible measures to start and continue PARCERO activities.

29. PARCERO will not enter into any risky or unprofitable deals for the company, business decisions will be made on the basis of reasonable economic and commercial risk.

30. Given the existence of business cycles and fluctuations in business activities, it is not possible to guarantee any form of permanent and stable profit for business, or beneficial deals, therefore the Company assumes no responsibility for any decision which resulted in damages, as it would disrupt the incentives of PARCERO team, entrepreneurship, would limit the freedom of action in situations requiring quick and decisive solutions.

31.31. By acquiring CER, the Buyer understands that PARCERO does not warrant or assume responsibility for reaching objectives as set out in the Whitepaper or the Platform.

Requirements for the Buyer32. The Buyer, upon acquiring CER, confirms that he/she has all the powers, is capable of concluding CER acquisition transaction, confirms that the law of his country of residence does not prohibit the Buyer from acquiring CER.

33. By purchasing CER, the Buyer confirms that:

33.1.33.1. He/she is not a US citizen, a citizen of the People's Republic of China, a resident or a person registered in these countries;

33.2. Is aware of all the laws of his country of residence governing acquisition of CER;

33.3. Acquisition of CER in Buyer's country of residence is not prohibited, limited, no additional sanctions are imposed;

33.4. He/she does not use speculative investments;

33.5. The law of Buyer's country of residence does not prohibit the sale of CER through crowd sale without special permission from local authorities;

33.6.33.6. The CER mark in Buyer's country of residence does not qualify as a security, currency or other means of payment, and has no purchasing power;

33.7. He/she will not use CER to finance illegal activities, including but not limited to money laundering and terrorist financing;

33.8. He/she is acquiring CER for the purpose of using PARCERO platform in order to make payments for PARCERO parcel deliveries;

33.933.9. He/she understands and has calculated the potential risks associated with possible termination, suspension or failure of PARCERO operations;

33.10. Understands principles of crypto currencies, and associated risks.

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1 Transfer Agreement of CER Token - https://ico.parcero.io/assets/uploads/Transfer-agreement-of-CER-token.pdf

Intellectual Property Rights34. PARCERO owns all intellectual property rights, including, but not limited to, goodwill, know-how, trademarks and service marks, computer programs, mobile applications, commercial and legal documents, technical documentation, programming codes, etc. The Buyer has no rights to the above mentioned intellectual property.

Disclaimer35.35. The Company, its employees, on civil contract basis employed people and management bodies and their members shall not be liable for any losses incurred by Buyers or any other persons resulting from the misuse of PARCERO platform, acquisition of CER, technical failure of the platform, and cyber attacks.

Applicable law and jurisdiction36.36. For the purpose of T/S application, interpretation, and CER transactions the law of the Republic of Estonia applies. Any disputes arising between PARCERO and the Buyer are negotiated within 30 days. In the absence of a peaceful settlement, each dispute is finally settled by arbitration in the Tallinn Commercial Court of Arbitration in accordance with the Arbitration Procedure Regulation. All procedural documents will be sent to the parties by e-mail. There will be one arbitrator. Arbitrage place - Tallinn. Language of arbitration process will be in Lithuanian/English. The dispute in the Republic of Estonia is subject to the law of the Republic of Estonia.

Annex of T/STheThe Transfer Agreement of CER Token is is an integral part of T/S and is interpreted in conjunction with T/S. By agreeing to T/S, you also agree to the Transfer Agreement of CER Token. The Transfer Agreement of CER Token complements the T/S provisions, and in the event of a conflict between the Transfer Agreement of CER Token and the T/S, they are interpreted in conjunction by systematically giving priority to the provisions of the Transfer Agreement of CER Token.

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Parcero whitepaper 1.1.pdf · PARCERO allows you to choose what, when, and where you want to...

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