Cirklo is an offer by the Studio NV. The Studio is the innovation lab and a subsidiary of Belfius Bank NV.
Due to the enforced closure of businesses and physical shops and other emergency measures in order to prevent the spreading of the COVID-19 virus, a lot of local retailers have been affected heavily. The Studio is trying to support the local entrepreneurs with the new Cirklo Light gift voucher during and after this difficult period. If and when the COVID-19 lockdown measures allow it, you can spend your gift voucher at your favourite local merchant.
You will find more information on the Cirklo Light gift voucher, as well as a list of the participating retailers, on the website www.cirklo-light.com.
With every purchase or receipt of a gift voucher you acknowledge to have been informed of these General Conditions and to accept them.
Owner of the gift voucher
The gift voucher is not personal and can therefore be handed on to someone else. The person who is in possession of this gift voucher, shall therefore always be considered to be the rightful owner.
How can a citizen obtain a digital gift voucher?
There are two ways for a citizen to obtain a digital gift voucher.
A citizen buys a gift voucher himself of herself
A citizen can buy a digital gift voucher through the Studio's user friendly online webshop. A gift voucher can only be purchased by Bancontact online payment. Apart from that, all prices are expressed in EURO and are VAT included.
The local government can decide to add a percentage or a nominal amount at the purchase of a gift voucher.
The citizen then receives a unique QR code through his/her e-mail address. The QR code represents the value of the gift voucher in Cirklos. The countervalue of these Cirklos is deposited on a blocked account on the Cirklo platform. The value of one digital ‘Cirklo’ coin is always one euro.
The local government offers one gift voucher per household
A local government can decide to offer a gift voucher to every household or every inhabitant of the area of its authority. In this case, the household does not contribute anything financially to the purchase of a gift voucher. The household then receives a unique QR code through its physical address or e-mail address. The QR code represents the value of the gift voucher in Cirklos. The countervalue of these Cirklos is deposited on a blocked account on the Cirklo platform. The value of one digital ‘Cirklo’ coin is always one euro.
How does a merchant receive a digital gift voucher?
A merchant must pass an identity check by the local government. The local government then provides the Studio with a list of merchants that will be allowed to join the platform. Merchants who are not on the list, cannot join the Cirklo Light platform.
The merchant disposes of an application he or she can access from a tablet, smartphone or pc. If a citizen wishes to pay using a gift voucher, the merchant enters the amount due on the apparatus and shows this to the citizen. Then the merchant scans the QR code (digital or on paper), which subtracts the amount due from the voucher.
The merchant always has to scan the QR code so as to make sure that the payment has been successful. The merchant can only be sure of having received a correct payment when a confirmation message appears on the application screen. If no confirmation message appears on the application screen, the merchant cannot be sure that the payment was registered successfully, and therefore he will be ultimately responsible for the non payment.
Information on the balance – access to the digital portfolio
All transactions carried out are to be found in the merchants digital portfolio. This is a survey of the gift vouchers received, the historic transactions, however also the exchange into fiat money (EUR).
How can a merchant exchange the Cirklos he or she received into fiat money (EUR)?
The merchant can exchange his/her collected local currencies into fiat money using the application. During the registration process the merchant can choose between an exchange on a weekly or a monthly basis. Cirklos can also be exchanged for fiat money on an ad hoc basis. The merchant receives the amount of coins collected through a European transfer on his/her account. This will guarantee that a merchant does not have to wait long for his or her takings.
Period of validity of a Cirklo Light gift voucher
A Cirklo Light gift voucher is valid for a certain period which is decided upon by the local government. Due to the exceptional nature of the coronavirus period, the period of validity of the gift voucher will be limited, since it is the idea to spend these vouchers as soon as possible at the local merchants. However, this period can differ depending on the local authority. Once the validity period has expired, the voucher can no longer be used.
In accordance with section VI.47 of the Belgian Economic Law Code, a buyer has a revocation right for remote or online sales. Based on this revocation right a buyer can within fourteen (14) calendar days from the reception date of his/her order still renounce the purchase, without reason given and without he or she being liable to any fines.
The buyer however recognizes that in accordance with section VI 53, 13°, the aforementioned revocation right does not apply to the purchase of a gift voucher. The buyer indeed recognizes that the execution of the purchase was already completed at the online reception of the digital contents (gift voucher).
Safety and support
The Cirklo Light gift voucher can be considered as electronic money. Belfius Bank NV, a credit institution according to Belgian law, registered in the Register of Legal Entities with number 0403.201.185 and with head office in 1210 Brussels, Karel Rogierplein 11, is the issuer of this electronic money.
Cirklo has the same value as the euro and can only be exchanged for goods or services at the participating retailers. Outside the Cirklo Light platform, Cirklo has no value whatsoever.
Furthermore, the Studio uses innovative blockchain technology in order to ensure the safety of the transactions and to prevent fraud.
Unless provided for otherwise under the law or by contract, the Studio’s liability may only be invoked in cases of gross or intentional misconduct committed in pursuit of its professional activities.
The liability of the Studio towards those taking part in the Cirklo Light platform as a consequence of a shortcoming, can under no circumstances lead to compensation for indirect financial, commercial or other damage. Indirect damage is understood to mean a.o.: higher overhead expenses, disruption of planning, the obligation to continue to deliver performances, the loss of profit, image, customers or projected savings.
Abuse, improper or fraudulent use of the Cirklo Light gift voucher is in any case prohibited.
The Studio reserves the right, provided there is an evident valid reason, to refuse a citizen or a retailer access to the digital platform.
Intellectual property rights
All intellectual property rights concerning the Cirklo Light digital gift voucher remain with the Studio. These intellectual property rights are understood to mean copyrights, trademark rights, design rights, model rights and/or other (intellectual property) rights, including technical and/or commercial know-how, methods and drafts, whether patentable or otherwise.
The citizen may not use and/or change the intellectual property rights as described in this section, unless it is merely for the private use of the product itself.
The purchase of a Cirklo Light digital gift voucher implies knowledge and acceptance of the privacy statement.
Changes to the conditions
These general conditions may be amended at all times by the Studio. Two months prior to the coming into force of these amended conditions, they shall be available on the website.
After the date of the coming into force of the amended conditions, every purchase of a Cirklo Light digital gift voucher shall be considered as an acceptance of these conditions.
Competent courts and applicable law
These general conditions shall be governed by Belgian law.
In case of disputes, only the Brussels’ courts shall be competent.