Question: EULA ped guarantee changed?

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Hi!

Didn't it used to state in the EULA that the amount of peds guaranteed by MA was equal to the total sum of your deposits within the last six months?


Unless I'm missing it, I don't see that anywhere in the EULA anymore, did it change?

If so, when?
 
I thought it was the tt value of our acc? :wise:
Support case in that other thread about optimism I just read seems to suggest that still holds true.
 
It (the liability clause) is still there:

"MINDARK'S LIABILITY TOWARDS YOU SHALL, IF ACKNOWLEDGED, IN EACH INCIDENCE BE LIMITED TO NO MORE THAN THE TOTAL AMOUNT TRANSFERRED INTO THE INVOLVED ACCOUNT BY SAID PARTICIPANT UNDER SIX MONTHS PERIOD PRIOR TO THE INCIDENT."

But it has not much to do with what most people think.

The limitation of liability clause in the EULA has nothing to do with regular withdrawals. I wish people would stop to claim that. The clause is aimed at indemnity claims.

It is a common clause that you will find in any service provider contract, even your internet provider has one. Yes, it has more importance in an RCE game / plattform, especially for LA owners in example.

To make an example: Should you have an taxed landarea and MA messes something up so you can't earn taxes for some time and then demand compensation, thats where the clause kicks in.

This is compareable to the situation where an internet provider limits liability to the amount of fees payd in the last 6 months (or whatever period) in case the service fails and you, as customer having a office in example, demand compensation for loss of bussiness.

It has not much to do with withdrawals of peds you already have on your account. Neitherless it has to be considered by anyone who bases a serious business on EU. You have the same situation with any service provider / company though.

And why people keep pulling out that clause with the scenario of bankruptcy i don't get anyway. Is not like the ordinary player and depositer would see anything in that case anyway.

That all has nothing to do with a "Ped guarantee" for the regular player.
 
I thought it was the tt value of our acc? :wise:
Support case in that other thread about optimism I just read seems to suggest that still holds true.

Initially yes it was ALL peds, then about 2 years ago it changed to only deposits made in last 6 months. Now not even that? Possible.:cry:
 
Initially yes it was ALL peds, then about 2 years ago it changed to only deposits made in last 6 months. Now not even that? Possible.:cry:

Read folks, please read.
 
To make it perfectly clear, there is basically no limitation how much one can withdrawal from (legit) in-game funds.

Nothing changed at all, Peds can be withdrawn to USD 10:1, thats what MindArks says and always said.

And there never was any real "TT value guarantee" in an absolute sense. Because, if a company goes bankrupt the liquidator and bankruptcy court will tell you what those guarantees are worth. :laugh:
 
To make it perfectly clear, there is basically no limitation how much one can withdrawal from (legit) in-game funds.

Nothing changed at all, Peds can be withdrawn to USD 10:1, thats what MindArks says and always said.

And there never was any real "TT value guarantee" in an absolute sense. Because, if a company goes bankrupt the liquidator and bankruptcy court will tell you what those guarantees are worth. :laugh:

Actually they are more touchy then that since I had abit of a legal squable with support regarding a withdraw. They claimed it´s a service and that a number of common swedish laws dont apply since its a service they offer. This withdraw service aint bound by what we think of as "Peds ingame are a real currency". They can also terminate or change the service any time, (Read between the lines of the EULA). The 10:1 may not be true if push comes to show.

People who belive that MA has money like a casino are wrong since it doesnt apply cause you buy peds as a service. They dont have any legal obligation to have a reserve. There are some swedish laws that might apply like when you buy stuff/service over the internet, most know it as the cooldown period. So you are probably covered for the amount you deposited the last 30 days. Now Im writing what the laws gives, not what MA promises. Im unsure if its the biggest creditor who gets whats left of cash in case of bankruptcy or if it depends on the time you made the claim to money. Maybe someone can fill me in? Not very good at this part.

Not that Im worried per say but might be useful info to someone else.
 
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Actually they are more touchy then that since I had abit of a legal squable with support regarding a withdraw. They claimed it´s a service and that a number of common swedish laws dont apply since its a service they offer. This withdraw service aint bound by what we think of as "Peds ingame are a real currency". They can also terminate or change the service any time. The 10:1 may not be true if push comes to show.

Not that Im worried per say but might be useful info to someone else.

Thanks for sharing that Sircus. So you don't get me wrong, in no way i am saying anyones money is "super safe" after depositing.

I am fully aware of the problematic situation you hint at. What i am saying though is that nothing in that matters changed over the years. And that the liability clause in the EULA has nothing to do with regular withdrawals.

My view is that if MindArk would say tomorrow: Sorry we don't consider Ped's as "convertible currency" (what it of course never was in the first place) anymore and you can't withdrawal anymore (or only at a worser rate) then thats it for the moment!

Of course players would sue MindArk, and the outcome would be clear in example in my country. Alone the fact that MindArk advertised on the webside for years that Peds are 10:1 exchangeable would do it.

But from what i know, and someone correct me if i am wrong, things are a bit harder in sweden when it comes to consumer protection. Suing a company as consumer is harder in the first place?

My point is, thats how it has been since the start of PE, nothing changed there, right?
 
You guys know that MA already went bankrupt once right?
 
Thanks for sharing that Sircus. So you don't get me wrong, in no way i am saying anyones money is "super safe" after depositing.

I am fully aware of the problematic situation you hint at. What i am saying though is that nothing in that matters changed over the years. And that the liability clause in the EULA has nothing to do with regular withdrawals.

My view is that if MindArk would say tomorrow: Sorry we don't consider Ped's as "convertible currency" (what it of course never was in the first place) anymore and you can't withdrawal anymore (or only at a worser rate) then thats it for the moment!

Of course players would sue MindArk, and the outcome would be clear in example in my country. Alone the fact that MindArk advertised on the webside for years that Peds are 10:1 exchangeable would do it.


But from what i know, and someone correct me if i am wrong, things are a bit harder in sweden when it comes to consumer protection. Suing a company as consumer is harder in the first place?

My point is, thats how it has been since the start of PE, nothing changed there, right?

Wasnt quite dont yet :laugh:, you are of course right. I can tell you that Sweden has the worlds strictest consumer protection. As a consumer we have a best laws in the world. When it comes to Entropia you have to define our roll as a consumer to know what law applies. Lawsuits here in sweden is abit touchy, not like in the US. Sure you might win it but only the company would be liable and if its bankcrupt you wont get a dime even if you win. (Ofc depends on how broke they are). With the introduction of planetpartners our roll as consumer gets even more messy and MA strays further away from our claims.

A small reminder to everybody, in case of legal conflict with MA, Swedish law always apply since MA is based in Sweden. Even if you are in the US, Canada, Denmark, Norway and so on.

The best news we players could get would be to have the Mindbank up and running since then they would be forced to always have cash. Withdraw times would probably suddenly magicly be shortened to 3 days.
 
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Lol, just checking. Seems odd to worry about a company going bankrupt, that recovered from bankruptcy before they even had customers.

This thread and the old EULA "liability clause" discussion is not, and never was, about bankruptcy Corey. Thing is not about what happens in that case, we all know that anyway.

The question is: what does MindArk "owe" or "guarantee" as long as they do have money. And i did not bring it up cause i wanted to focus on the "nothing changed folks" message.

But as Sircus already made it pretty clear, they owe us... nothing, nada, niente.

All we got is a kind of "promise" (on the website and some documents, PR and communications) that we can exchange Peds back to RL money. If MA would suddenly refuse to fulfill that promise (but would have enough funds to do so) then we can only speculate how that would work out legally.

But then again, it always was that way. So no need to panic because of an EULA section that isn't even related.
 
It (the liability clause) is still there:

"MINDARK'S LIABILITY TOWARDS YOU SHALL, IF ACKNOWLEDGED, IN EACH INCIDENCE BE LIMITED TO NO MORE THAN THE TOTAL AMOUNT TRANSFERRED INTO THE INVOLVED ACCOUNT BY SAID PARTICIPANT UNDER SIX MONTHS PERIOD PRIOR TO THE INCIDENT."

But it has not much to do with what most people think.



That all has nothing to do with a "Ped guarantee" for the regular player.

OK, that's it... thank you. ;)
 
So does this mean you cant ever hit a jackpot global and make good money off of it? you just get your money back?
 
So does this mean you cant ever hit a jackpot global and make good money off of it? you just get your money back?

No, it doesn't mean that. MA pays you out any amount you got on your card just fine (- a withdrawal fee ofc.).

It is more a theoretical discussion about what the legal base is.
 
Initially yes it was ALL peds, then about 2 years ago it changed to only deposits made in last 6 months. Now not even that? Possible.:cry:

it never said "ALL" ped, originally it was the amount of your "first deposit" mentioned in the limitation of legal liability clause, effectivly $10 as thats what people put in to activate a credit card.

You guys know that MA already went bankrupt once right?

and you understand how a company can make itself bankrupt deliberatly? many companies, large companies people use everyday, have been "bankrupt" at some time or another.
 
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