Terms and Conditions

1. Introduction and Acceptance

These Terms and Conditions (“Terms”) govern access to and use of LoreKart, a private digital showroom and marketplace platform (the “Service”) operated by Evoto AI (Pvt) Ltd, a company incorporated under the laws of Sri Lanka (“LoreKart,” “Company,” “we,” “us”). The Service connects vetted high-value vendors of gemstones, jewelry, luxury timepieces, fine art, and similar assets (“Vendors”) with prospective buyers (“Buyers”), collectively “Users,” “you.”

By creating an account, joining the waitlist, or otherwise accessing the Service, you agree to be bound by these Terms. If you do not agree, do not use the Service. These Terms incorporate our Privacy Policy by reference.

2. Eligibility

You must be at least 18 years old and have the legal capacity to enter into binding contracts to use the Service. Vendor accounts are restricted to businesses or individuals operating a legitimate trade in high-value goods, subject to LoreKart's identity and business verification process. LoreKart reserves the right to refuse, suspend, or terminate access at its sole discretion, including where verification cannot be completed satisfactorily.

3. Account Registration and Verification

3.1 You must provide accurate, current, and complete information during registration and keep it updated.

3.2 Given the high-value nature of goods listed on the Service, Vendor accounts are subject to identity verification, business registration checks, and, where applicable, anti-money laundering (AML) and know-your-customer (KYC) screening. LoreKart may request additional documentation at any time and may suspend an account pending verification.

3.3 You are responsible for maintaining the confidentiality of your account credentials and for all activity occurring under your account. Notify us immediately of any unauthorized use.

4. Nature of the Service

4.1 LoreKart provides a technology platform — including storefront hosting, lead management tools, AI-driven analytics, direct checkout functionality, and a live auction engine — that facilitates connections and transactions between Vendors and Buyers.

4.2 LoreKart is not a party to transactions between Vendors and Buyers. Except where expressly stated, LoreKart does not own, sell, authenticate, appraise, inspect, or guarantee the quality, authenticity, provenance, legality, or value of any item listed on the Service. Vendors are solely responsible for the accuracy of listings, descriptions, certifications, and representations made about their goods.

4.3 Any waitlist, founding cohort, or early-access offers are subject to separate terms communicated at the time of the offer, including pricing, duration, and availability, and may be modified or withdrawn by LoreKart at its discretion prior to conversion into a paid account.

5. Vendor Obligations

Vendors agree to:

• List only goods they have legal right to sell, with accurate descriptions, provenance, and certification where applicable;
• Comply with all applicable laws, including those governing the sale of precious stones, metals, art, and luxury goods, export/import controls, and consumer protection law in Sri Lanka and any other relevant jurisdiction;
• Honor the terms of any offers, auctions, or transactions initiated through the Service;
• Not use the Service to facilitate money laundering, fraud, the sale of stolen or counterfeit goods, or any unlawful activity;
• Maintain independent compliance with data protection obligations regarding Buyer information they collect.

6. Buyer Obligations

Buyers agree to:

• Provide accurate information when making inquiries, bids, or purchases;
• Conduct their own due diligence regarding the authenticity, condition, and value of items before purchase, recognizing that LoreKart does not independently verify Vendor listings unless explicitly stated;
• Honor bids placed and commitments made through the auction engine or checkout functionality;
• Comply with applicable laws regarding the purchase, import, export, and ownership of high-value goods.

7. Auctions

7.1 Bids placed through the live auction engine are binding offers to purchase at the bid amount, subject to the auction's specific rules disclosed at the time of bidding.

7.2 LoreKart may establish reserve prices, bid increments, time extensions, and other auction mechanics, and may cancel or void bids in cases of suspected fraud, technical error, or violation of these Terms.

7.3 Winning bidders and Vendors are responsible for completing the transaction in accordance with the payment and fulfilment terms presented at the time of the auction.

8. Payments and Fees

8.1 Payments processed through the Service are handled via third-party payment processors. LoreKart is not responsible for processor errors, delays, or outages, though we will make reasonable efforts to assist in resolving payment issues.

8.2 LoreKart may charge subscription fees, transaction fees, or commissions as disclosed at the point of sale or in a separate fee schedule. Fees are subject to change with reasonable notice.

8.3 All fees are exclusive of applicable taxes unless stated otherwise. Users are responsible for any taxes arising from their use of the Service or transactions conducted through it.

8.4 Refunds, where applicable, are governed by the specific offer or transaction terms presented at the time of purchase.

9. Intellectual Property

9.1 The Service, including its software, design, trademarks, and content created by LoreKart, is owned by Evoto AI (Pvt) Ltd and protected by applicable intellectual property laws. These Terms do not grant you any rights to LoreKart's intellectual property except a limited, non-exclusive, revocable license to use the Service as intended.

9.2 Vendors retain ownership of content they upload (images, descriptions, certifications) but grant LoreKart a non-exclusive, worldwide, royalty-free license to host, display, and reproduce such content as necessary to operate the Service, including in marketing materials, subject to a Vendor's reasonable opt-out request.

10. Prohibited Conduct

You may not: use the Service for unlawful purposes; list counterfeit, stolen, or illegally sourced goods; circumvent the platform to avoid fees; misrepresent your identity or business; interfere with the security or operation of the Service; scrape, reverse-engineer, or misuse platform data; or engage in conduct that harms other Users or LoreKart's reputation.

11. Disclaimers

11.1 The Service is provided “as is” and “as available” without warranties of any kind, express or implied, including warranties of merchantability, fitness for a particular purpose, or non-infringement, to the maximum extent permitted by Sri Lankan law.

11.2 LoreKart does not guarantee the authenticity, value, condition, or legal title of any item listed by a Vendor. Users transact at their own risk and are strongly encouraged to conduct independent due diligence, including third-party appraisal or certification, before completing high-value transactions.

11.3 LoreKart does not guarantee uninterrupted or error-free operation of the Service, including the auction engine, and is not liable for losses arising from technical failures, except where caused by our gross negligence or willful misconduct.

12. Limitation of Liability

To the maximum extent permitted by applicable Sri Lankan law, LoreKart, its directors, officers, employees, and affiliates shall not be liable for any indirect, incidental, special, consequential, or punitive damages, or any loss of profits, revenue, data, or goodwill, arising from your use of the Service. LoreKart's aggregate liability for any claim arising from these Terms shall not exceed the total fees paid by you to LoreKart in the twelve (12) months preceding the claim, except where such limitation is not permitted by law.

13. Indemnification

You agree to indemnify and hold harmless LoreKart and Evoto AI (Pvt) Ltd from any claims, damages, losses, or expenses (including reasonable legal fees) arising from your breach of these Terms, your listings or transactions, or your violation of applicable law.

14. Suspension and Termination

LoreKart may suspend or terminate your account, with or without notice, for breach of these Terms, suspected fraud, failure to complete verification, or as required by law. You may close your account at any time, subject to completion of any pending transactions and obligations.

15. Dispute Resolution and Governing Law

15.1 These Terms are governed by the laws of the Democratic Socialist Republic of Sri Lanka, without regard to conflict of law principles.

15.2 Any dispute arising from these Terms or the Service shall first be addressed through good-faith negotiation. If unresolved, disputes shall be subject to the exclusive jurisdiction of the courts of Sri Lanka, or resolved through arbitration in Colombo, Sri Lanka, in accordance with the Arbitration Act, No. 11 of 1995, as the parties may agree.

16. Changes to These Terms

LoreKart may revise these Terms from time to time. Material changes will be notified through the Service or by email, and continued use after such changes take effect constitutes acceptance of the revised Terms.

17. General Provisions

17.1 Entire Agreement: These Terms, together with the Privacy Policy and any applicable offer-specific terms, constitute the entire agreement between you and LoreKart.

17.2 Severability: If any provision is found unenforceable, the remaining provisions shall remain in full effect.

17.3 No Waiver: Failure to enforce any provision does not constitute a waiver of that provision.

17.4 Assignment:You may not assign your rights under these Terms without LoreKart's written consent. LoreKart may assign these Terms in connection with a merger, acquisition, or sale of assets.