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PUBLIC OFFER AGREEMENT

RAVEON LLP, registered at Office 402, Spyrou Araouzou 165, Limassol, 3036, Cyprus (hereinafter referred to as 'the Company'), hereby extends a formal offer to engage individuals and entities (hereinafter referred to as 'Customers') in a contractual relationship under the terms of this Agreement, in compliance with the laws of the Republic of Cyprus.

1. GENERAL PROVISIONS

This Public Offer Agreement ('Agreement') constitutes a formal proposal by the Company to provide account registration services as outlined on the website raveon.net, depending on the subscription type selected by the Customer. Acceptance of this offer by the Customer establishes a binding contractual relationship, signified by agreement to these terms and payment for services.

2. DEFINITIONS

  • 'Customer': Any individual or entity that enters into this Agreement with the Company by accepting the offer.

  • 'Service': The account registration and music release moderation services provided by the Company, subject to the selected subscription type.

  • 'Music Release': A compilation of musical works submitted by the Customer for moderation and distribution.

  • 'Net Income': The actual receipts from consumer stores less applicable taxes, fees, or other deductions.

3. SERVICE DESCRIPTION

The Company provides services for the moderation and distribution of music releases, ensuring compliance with specified standards, including originality checks, cover song legality, audio quality, and cultural considerations.

4. SUBSCRIPTION TYPES AND TERMS OF SERVICE

Services are rendered based on annual subscription packages detailed on raveon.net, with each package offering specific benefits and services. The commencement and duration of services align with the subscription period.

5. PAYMENTS AND ACCOUNTING

The Company agrees to pay the Customer eighty percent (80%) of Net Income generated from the Customer's music releases. The Customer is responsible for conducting payments and accounting in favor of the Licensor as follows:

  • Within 60 business days from the end of the reporting period, the Customer must provide the Licensor with a report detailing the amounts accrued by streaming platforms for the use of Musical Compositions and related Content. The report is provided in electronic form.

  • Compensation is transferred to the Licensor's account within 45 business days after the Customer receives funds from streaming platforms.

The reporting period is understood to be the calendar quarter.

6. RIGHTS AND OBLIGATIONS

  • Customer Obligations: Customers must comply with the terms of this Agreement, including the submission of music releases for moderation and adherence to payment and reporting schedules.

  • Company Rights: The Company reserves the right to modify, discontinue, or terminate services and adjust the terms of service without prior notice, in compliance with the laws of the Republic of Cyprus.

The Agreement and all associated services shall comply with the General Data Protection Regulation (GDPR) and other applicable laws of the Republic of Cyprus, ensuring the protection of personal data collected, processed, and stored through the Service.

8. INTELLECTUAL PROPERTY RIGHTS

Customers grant the Company a non-exclusive right to distribute and exploit music releases globally, retaining specific rights as detailed in the Agreement and respecting copyright laws.

9. DISPUTE RESOLUTION

Disputes arising from this Agreement are to be resolved amicably or, failing that, in accordance with the laws of the Republic of Cyprus, with the option for mediation or arbitration prior to legal adjudication.

10. AMENDMENTS AND TERMINATION

The Agreement may be amended or terminated by mutual consent of the Parties or as provided by the laws of the Republic of Cyprus. Specific conditions for termination, including notice requirements and handling of ongoing obligations, are detailed within.

11. FINAL TERMS

This Agreement is effective upon the Customer's acceptance and remains valid until all obligations are fulfilled. Amendments to the Agreement are considered integral parts of the original document and are subject to the same compliance and legal scrutiny.

ACCEPTANCE

By accepting this offer and engaging in services provided by the Company, the Customer acknowledges and agrees to adhere to the terms set forth in this Agreement, thus entering into a binding contractual relationship under the laws of the Republic of Cyprus.

This document integrates all previously discussed terms and conditions, providing a comprehensive legal framework for the services offered by RAVEON LLP. It is recommended to review this Agreement with legal counsel to ensure full understanding and compliance.