Company offers a feature allowing users to "purchase" (a) virtual currency, including but not limited to virtual coins (“Coins”) and virtual golden hearts (“Golden Hearts”) for use in the Service; or (b) virtual in-Service items (“Gifts”). Any Coins and/or Gifts that are gifted to Users (or received by you) within the Service are converted to real wallet balance in the receiving User’s e-wallet Account. Virtual Coins, together with Gifts and Diamonds, are hereafter collectively referred to as "Virtual Items.” The purchase of any Virtual Items must be made lawfully, under legitimate means, and with actual currency. Notwithstanding your purchase or possession of such Virtual Items, you acknowledge and agree that you do not in fact "own" the Virtual Items, and the amounts of any Virtual Item do not refer to any credit balance of real currency or its equivalent. Rather, Company grants you a limited license to use the Service, including software programs that may manifest themselves as these items.
At the time of making a purchase on ReelOver app, ReelOver will create a virtual wallet (“paytm” wallet) for you to make purchase of virtual items and for transferring the earning made by you through live broadcasting by viewers paid up virtual items. The hearts and coins paid by viewers can be redeemed by the broadcasting user against digital currency into their e-wallet on ReelOver. The redeemed amount can subsequently be used by the users for making any kind of online purchase or for transferring into their respective bank accounts.
ReelOver will charge a percentage of the amount accumulated as platform usage fees on ReelOver from the broadcaster amount availed for redemption.
You acknowledge and agree that your distribution of any Virtual Items currently in your account (i.e. as a virtual "tip" to any other User's account) may result in some revenue to such recipient User, as determined in Company's sole discretion, and is made solely at your own discretion; you further understand that once you have confirmed a transfer of any Virtual Item to another user's account, the action cannot be undone and the Virtual Item cannot be withdrawn. Notwithstanding, Company makes no guarantee that the amount or value of the Virtual Items you may give a User will correlate to the revenue such User may receive from Company.
The purchase of Virtual Items is a completed transaction upon Company's confirmation of electronic payment from you via Paytm. Any virtual currency balance shown in your User Account does not constitute a real world balance or reflect any stored value, but instead constitutes a measurement of the extent of your license to the Virtual Items within the Service. You will not be able to sell Virtual Items in exchange for virtual or real currency credited back to your User Account, nor will you be able to receive a refund (“Refund”) of virtual or real currency for Virtual Items (including any virtual currency), including if your access to the Service has been suspended, limited or terminated pursuant to these Terms.
The value (i.e. the exchange rate) of the Virtual Items is determined by Company in its sole discretion, based on your country of origin, and Company further reserves the right to modify the purchase exchange rate between actual currency and Virtual Coins from time to time, with or without reason, in its sole discretion. By your use of the Service, you confirm your understanding of and accept the then-current exchange rate of any Virtual Items at the time of your purchase.
Your use of any Virtual Items purchased shall be solely for legitimate purposes within the Service, and must comply with all applicable laws at all times (i.e. no exchanging of Virtual Items for any activity, product, conduct or services deemed unauthorized by these Terms or our Community Policy).
You understand that the purchase of Virtual Items requires actual money. If you disagree with any part of, or do not fully understand our exchange rate policy, please refrain from purchasing or using any Virtual Items in connection with the Service.
You understand that ReelOver may change, modify or update these Terms, or the terms of sale in connection with the Virtual Items from time to time, and that such revised terms will apply to all subsequent purchases of any Virtual Items, and you agree that you will review these Terms and any terms regarding the sale of Virtual Items prior to making any purchase.
In the event your account balance is incorrect due to system maintenance or other technical failures as determined by Company in its sole discretion, Company agrees to make all necessary corrections and adjustments with respect to your account balance. If you have any questions, concerns or suggestions regarding purchases and/or payments regarding the Service, please contact us at email@example.com.
For further pricing and refund policies of virtual products on ReelOver, please refer to Section B below.
5 Golden Hearts (15 days validity) – 50 INR
12 Golden Hearts (1 Month Validity) – 100 INR
16 Golden Hearts ( 1 Month Validity) – 150 INR
C. Confiscation of Virtual Items Due To Termination Or Fraud
IMPORTANT: The Company takes fraud extremely seriously. In addition to taking any applicable and necessary legal action, Company reserves the right to permanently confiscate any Virtual Items from any User Account that it determines, in its sole discretion, were purchased or acquired using fraudulent means; this includes confiscation of any Virtual Gifts received by you from another User in which such Virtual Gifts were purchased fraudulently. In the event Company determines that and Virtual Items were fraudulently purchased, Company will notify you prior to confiscation and allow you an opportunity to make an appeal via the App.
If Company terminates your account for cause (including fraud), any outstanding Virtual Items remaining in your account at the time of termination may be irrevocably confiscated, as determined by Company in its sole and absolute discretion, in accordance with our Account Termination Policy specified below.