LockTrip Terms & Conditions

These TERMS AND CONDITIONS were last updated on 24 May 2018


These  TERMS AND CONDITIONS were last updated on 24 May 2018
The new version of the Terms and Conditions becomes effective from the day it is announced publicly on Our website (https://LockTrip.com/ ) unless stated otherwise. We strongly recommend that you check the page often, referring to the date of the last modification. If you do not agree to the new modifications, please contact Us and request deletion of your profile. 

We provide customers the exclusive opportunity to discover their next experience by browsing for homes and hotels worldwide with 0% commissions on the bookings. We design and build LockTrip.com, which will be the first marketplace that will interact with the decentralised  application (dApp) for booking rental homes that will be build by us and deployed to the Ethereum blockchain. LockTrip will be the first system, which allows end customers and property owners to deal with each other on the platform without any commission and with fees close to 0%. 

These Terms and Conditions („TERMS“) apply exclusively for this website. The access to the services offered by this website is a subject to prior acceptance to these Terms and Conditions. These Terms and Conditions represent a binding agreement between you, the legal entity you represent and the legal entity that registered you (collectively „YOU“) and Lockchain Ltd. in connection to your registration and use of the online marketplace (https://LockTrip.com/).

Please, do not use the services provided by Lockchain Ltd., if you do not agree to the terms applied within this document. 

The collection of personal data in connection to the use of our website is a subject of our Privacy Policy. 

Please, bear in mind that Lockchain does not in any way control, create, sell or influence the offerings made by the accommodation providers. This is solely an online platform giving the possibility for them to upload the services they offer. Therefore, we are not an organiser or retailer of travel packages according to Directive (EU) 2015/2302.[g1]

Once you agree to the Terms and Conditions, we consider this an explicit consent to the following:


„LockTrip.com“, „us“, „we“ or „our“ refers to Lockchain Ltd., a limited liability company incorporated under the laws of the Republic of Bulgaria, and having its registered address at Tintyava 15-17, 2nd fl, 1113 Sofia, Bulgaria, UIC: 204752244, legally represented by: Nikola Velichkov Aleksandrov.

„LockTrip“ means a decentralised open source bookings ecosystem for renting hotel rooms, private properties or accommodation. 

„Lockchain technology“ means the automatic conversion into the local currency of property owner’s country. 

„Decentralized LOC Ledger“ means the engine that regulates all transactions and relationships between the hotels/property providers and the clients.

“LOC” means a utility token that gives access to both customers and accommodation providers to the decentralized LOC Ledger. When you buy and use LOC, you unlock full service abilities of our decentralized booking marketplace.

„Application programming interface (API)“ means a set of strictly designed and defined methods of communication between various software components.
 „Online marketplace“ means an online platform, which offers a variety of hotels, private properties or other type of accommodation in countries worldwide and from which customers can choose depending on specifically set out requirements such as: location, check in and check out dates, number of nights, rooms and people. Depending on the state of development of the project, the marketplace may or may not be fully integrated with the decentralized LOC Ledger.

„Accommodation Provider“ means the hotel or property owner (host) who offers certain rooms/beds/ other type of accommodation depending on the customer’s priory set out requirements. The 

„Customer“ means the physical person[g2] who selects and books a hotel with his credit card and the payment is converted into LOC. 

„Users“ means collectively the accommodation providers and customers.

„LockTrip Travel Engine“ means the process of converting EURO payment into LOC via API connectivity with exchanges and the result is the booking with LOC at 0% commission.

„Smart contract“ means a technical procedure that manages the booking by releasing the payment to the accommodation provider. 

„Fiat“ means legal tender. The accommodation provider or we can liquidate LOC into Fiat and the Fiat payout is made at 0% commission to the hotel.

„LOC Travel Engine“ means the decentralized and free-to-use electronic system, which keeps all hotels, rates and availability as an open- source turnkey solution for any third party applications that wish to connect and offer retail travel services at 0% commission. 


We design and build LockTrip, a decentralized open source bookings ecosystem for renting hotel rooms, private properties or accommodation (the decentralized LOC Ledger). LockTrip allows end customers and property owners to deal with each other on the platform without any fee or commission. LockTrip.com is the first marketplace/application that connects with the decentralized engine (The LockTrip. com Marketplace). 

The nature of our services includes a specific procedure with automated processes, which guarantees the correct and precise execution of the payments. If a physical person wants to reserve a hotel with his credit card in EURO, a built in algorithm exchanges his EURO payment into LOC via API connectivity with exchanges. Then the booking is executed with LOC at 0% commission. After Check- out and in case no disputes have been initiated, the smart contract that manages the booking releases the payment to the hotel. The hotel liquidates LOC into Fiat and the Fiat payout is made at 0% commission to the hotel.

From a client’s perspective, that browses the LockTrip.com marketplace, the use of LOC tokens will not be a requirement. But in reality, what will happen at the time of any purchase is that the marketplace will use its built-in algorithm to convert any external means of payment into LOC. Use of other fiat and crypto-currencies will be provided as a service, although charges of 1-3% may apply. Over time, more functionality will be released.

For the convenience of the users we will use payment service providers also. 

Through the platform, the accommodation providers can promote, advertise and sell their services so that customers can choose, book and purchase the service. We are not liable for the content and the services provided by the accommodation providers. They are solely responsible for the prices, conditions and information presented by them. We do not have the obligation to make any verification whatsoever of the truth, validity and accuracy of any of the content uploaded by the providers.


LockTrip.com marketplace’s web and mobile clients will present an easy-to-use interface to add and edit their listings on the decentralized LOC Ledger. One-click solutions for transferring current listing from other platforms will be provided for maximum comfort. Traditional payment methods (e.g. credit cards, PayPal) will also be supported as an option because the LockTrip.com marketplace will have a built-in algorithm that will execute automatic conversion of all external currencies into the LOC token.


Customers will be able to browse for the best property, using both web and mobile apps. We will focus the LockTrip.com marketplace to be as user-centric as possible, offering comfortable user interface and overall experience. The zero commission which by default is a feature of the decentralized LOC Ledger, will provide the lowest rates, possible only when end customer and property owner deal directly. 



We reserve our right to modify and update these Terms and Conditions at our sole discretion according to the policy of the Company. Users have the obligation to inform themselves about the modifications and immediately contact Us whenever they do not understand any aspect or want to understand the possibilities to delete their accounts due to their disagreement. If you continue to use the Online Marketplace, we will consider these actions as acceptance of the previously mentioned amendments. 


We shall not be responsible and do not have an obligation connected to cyber-attacks and/ or viruses to your technical devices, fail of service providence during the use of our services, data charges, other fees and taxes associated with Your access to the Online Marketplace.


Please, bear in mind that once you register and join the society of LockTrip, you agree to pay duly the required payments and to fulfil the obligations they have in good faith. 

The fundamental idea of LockTrip is to be the first system which will allow end customers and property owners to deal with each other without any fee or commission. All listings and deal parameters are intended to be decentralized, eliminating all middlemen and guaranteeing transparent execution via smart contracts. However, some properties, taxes and fees may be payable to public authorities and/or entities in different countries depending on the legal regulation and state of development of the project. Users are obliged to become informed for such taxes and fees and/or to pay to the counter perties in accordance with the services they have used. We are not responsible for paying any tax or fee connected to your access and use of our services.

You shall be held liable in case you provide false credit card information for the purpose of payment. You hereby declare that you are authorized to use the following bank account information and to pay the required payable amount. The amount includes taxes and or fees. 

Please make sure you have chosen a payment method which is valid. Otherwise, We have the right to redirect our claims through alternative methods such as collecting agencies, legal counsel, etc. The variety of methods is at our sole discretion.


By using the Online Marketplace, You as a customer enter into legally binding agreements directly with the accommodation providers. The accommodation providers are independent contractors and they bear the responsibility of the content they upload. Therefore any non-performance, partial performance, material injury and any other obligation arising from the agreements are responsibility solely to the customers and providers. We are not liable for any infringement of the agreements. 

As a customer, you are responsible for leaving the property in the same condition it was when you arrived. You are solely responsible for your acts and behavior and the acts and behavior of third parties you have invited and hosted during your stay in the accommodation.

In connection to the services provided, we are not liable for any claims relating tort, delict or quasi- delict caused by either customers, or service providers. 


The use of our Services shall be in compliance with all applicable legislation according to the territory you access from. The access to our online marketplace is prohibited in case the content is illegal by the specific governmental and legal system. You are solely responsible for the compliance of LockTrip’s activity with the applicable local, regional or international laws, regulations, directives ,etc. We are not liable in case your access is restricted or prohibited in certain territories and countries depending on the different legal acts.


Any explicit or implicit messages or comments and actions by You referring in any way to terrorism, discrimination, racism, or any other form of inappropriate behaviour is strictly forbidden and will lead to the termination of your registration. We have no responsibility to monitor the behaviour of Users and shall not be liable for these actions. However, in case of signal we shall make everything possible to prevent further inappropriate behaviour.


The Marketplace may include hyperlinks, forwarding to websites of third parties. These third parties are not connected in any way to Us and we do not control or review the content presented there. Users and Lecturers can access the platforms of third parties at their own risk and they should comply with their Terms and Conditions, Privacy Policy and other relevant to the websites rules. We are not liable for the content represented in the websites of third parties.


The company can occasionally conduct marketing campaigns that involve engagement of the community in various marketing activities in exchange for free LOC tokens. Considering these rewards would be free for the users, LockTrip reserves the right at its own discretion and without informing any users to change the payout terms according to its own preference at any moment of any such marketing campaign. This includes (but not limited to): Modifying the payout rate, payment date, canceling payment or asking additional information from the users in order to ensure that he/she meets the criteria for being eligible to receive these free LOC tokens.



As a CUSTOMER, You agree to the following rules applicable for The Marketplace: 

  • - You will pay the payable amounts in good faith;
  • - You will use the content of the website only for private purposes; you shall be held liable for using the website with commercial purposes in any way; 
  • - You shall check the compatibility between the marketplace and any restrictions in countries;
  • - You shall restrain from posting or commenting offensive, racist, sexist or other inappropriate content;
  • - You must not upload any unlicensed content, interfere by any electronic means in the activity of the Marketplace;
  • - You must be at least 18 years old and able to enter into legally binding contracts to make a registration and use the services of the marketplace;
  • - You shall not access the Marketplace from an electronic device that contains viruses, trojan horses, worms, etc. 
  • - You shall comply with the opportunities given to hotel and property owners, including cancelation option and deposit guarantee.
  • - You shall support your account at all times and update the information included;
  • - You shall act in good faith fulfilling your obligations in connection to the individual agreements concluded with the accommodation providers;
  • - You shall follow the rules applicable in the hotel or property of each provider;
  • - You must maintain the confidentiality and security of your account credentials.
  • - You shall not disclose any information connected to your account credential to any third party and We have not authorized any third parties to require you to share them. You are solely responsible for any damages or misuse of your account in these cases. You shall not use another person’s account.
  • - You shall follow the requirements set within the Marketplace to create a profile;

  • As an ACCOMMODATION PROVIDER, You agree to the following rules applicable for the Marketplace:

    • - You shall not upload any content referring to advertising and promoting the activity of competitive companies or for other commercial purposes or offer participation in illegal activities;
    • - You must be at least 18 years old and able to enter into legally binding contracts to make a registration and offer services at the marketplace;
    • - You shall present truthful and accurate information about the services offered without any manipulation or exaggeration. You shall keep up to date any information connected to the services you offer;
    • - You shall act in good faith fulfilling your obligations in connection to the individual agreements concluded with the customers;
    • - You shall not disclose any information connected to your account credential to any third party and We have not authorized any third parties to require you to share them. You are solely responsible for any damages or misuse of your account in these cases. You shall not use another person’s account.
    • - You shall not access the Marketplace from an electronic device that contains viruses, trojan horses, worms, etc. 
    • - When you upload pictures and videos for the property, they should reflect the conditions and quality of the services adequately and accurately;
    • - You shall follow the requirements set within the Marketplace to create a profile;

    It is prohibited for Users to impersonate another person, to use invalid or incorrect information, to use the account of another person without explicit consent, to access without authorization the same accounts.

    The marketplace reserves its right to restrict the access of a User or to close the account in the above mentioned cases at its own discretion depending on every case. 


    After the completion of the booking, customers and accommodation providers are given the opportunity to leave a review and submit a rating under the form of stars about the impression of each other. They have an influence to other users on the marketplace but do not reflect our treatment or opinion. However, in case of disturbing behavior or conditions provided by any person, necessary steps towards restriction or deletion of an account may be taken at our sole discretion.


    The property owner can allow cancelation of booking and return of funds. The provider can define percent of amount returned and a deadline date. The conditions and LOC are hold on the blockchain, which gives 100% guarantee of execution of rules for both the provider and the customer.

    In case that the hotel owner is concerned about a breach of contract, he can request an additional amount of LOC to be withhold as deposit guarantee. The deposit will be automatically released if there is no problem.

    You shall have the possibility to set out a variety of rules which will be applicable only for the hotel or property you offer and you have the right to want their proper fulfilment by customers. We are not liable for the inappropriate behavior of customers.


    You shall keep the information on your account updated at all times. We are not liable when using old information presented in the account. You shall not leave your account signed in without your supervision. You shall not grant your access to third persons.

    You must contact US immediately in the following situations:

    • - You have security issues;
    • - Your account has been under a cyber-attack;
    • - Your account has been accessed without your authorization;
    • - Your account has been modified without your knowledge, etc. 


    As a property owner, each hotel or property owner shall guarantee at all times they have the required licenses, certificates and documentation for the hotel/property and their lease to the customers.

    Users do not have the right to distribute, broadcast, transmit, share, copy, etc. in any way the content in the website or modify the content to represent it as their own. 


    The intellectual property rights on this website are a subject of Our Legal Notice. Please make sure you inform yourself with the content of the Legal Notice.


    Please, bear in mind that the Marketplace can be periodically modified, updated, maintained or technically supported. This means that some of the offered accommodations can be replaced or deleted in the event of deletion of the Hotel or Property owner’s profile at his own discretion or in case of breach of our rules. You agree that We are not liable for the above mentioned in the previous sentences consequences.

    We have the right to restrict or delete an account, delete pictures, comments, provocative, inappropriate, inaccurate content in the case of violation of the rules applicable on the website. We can take action without your prior consent and knowledge.

    In the event that a customer’s profile is deleted or restricted due to the reasons mentioned within these Terms and Conditions, the payment of the customer including future period is non-refundable. Your obligations compliance is your responsibility and the payment is made at your own risk. 


    We may communicate with Users via different electronic means in connection to privacy problems, security breaches, technical or administrative issues, legal breaches regarding your use of our services.


    The applicable law and jurisdiction shall be Bulgarian law. All disputes arising out of this Terms shall be resolved in Sofia City Court. 

    If you are a resident in Europe you should be aware that the European Commission has established an online platform for alternative dispute resolutions that provides for an out-of-court method to solve any dispute related to and stemming from online sale and service contracts. As a consequence, if you are a European consumer, you can use such platform for resolving any dispute stemming from the online contract entered into with the Accommodation provider. The platform is available at the following link (http://ec.europa.eu/consumers/odr/).

    The invalidity of one or more clauses/ provisions in the Terms does not lead to the invalidity of the whole document.