Terms and Conditions

Definitions

Helium

An American company that has developed hardware and software solutions for a decentralized network for IoT (Internet of Things) applications.
Helium Network
A wireless network with LoRaWAN and blockchain technology.
Hotspot
A gateway connected to the Internet and the Helium network that transmits and receives data through the LoRaWAN protocol.
Host
A person or legal entity who Hosts one or more Hotspots.
HNT
Helium Network Token ("HNT"), is a cryptocurrency used in the Helium network as an incentive for owners of Hotspots and as a means of payment of data transmission through the Helium network.
Reward
The total reward in terms of HNT received by Galiot from the Helium Network.
Share
The Host receives a percentage of the Rewards that a specific Hotspot generates.
Payout
The total amount paid to a Host after each Payout Period. A Host obtains a percentage of the Rewards of any number of Hotspots the Host supports. The Payout can also include referral bonus generated by a referred Host during the corresponding Payment period. It can also include an additional sum for temporary campaigns.
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The Payout is paid in HNT or fiat currency.
Payment Period
The Payout period is the time the Share/Payout is calculated over. It is currently based on quarters (January-March, April-June, July-September, October-December). The Payout is accumulated over the Payout period and paid after each period ends. Galiot holds the full right to change the duration at any point in time.

Parties
Galiot and Host are jointly referred to as the "Parties".

Background to Helium

Helium has developed the Helium network which gives Compensation to owners of Hotspots who contribute to the Helium network. A Hotspot providing better network coverage receives higher Compensation, and performance is determined by the algorithm that is part of the Helium network.
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TERMS

The collaboration

Galiot AB ("Galiot") is a limited liability company registered in Sweden. Galiot provides one or more Hotspots to selected Hosts who have chosen to partner with Galiot. Galiot owns each Hotspot including any accessories and the Host provides space, Internet connection and means for the operation of the Hotspot.
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Share

For hosting a Hotspot, 20% of the Rewards generated by the specific Hotspot is reserved to the Host.
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Referral

If the Host makes a referral to someone who receives a Hotspots from Galiot, the Host will receive a referral bonus of 10% for 30 days for the specific Hotspot.
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Example of how Payout is calculated

Share = Reward * percentage
Payout = share_1 + share_2 + share_n
where "n" is the number of hotspots hosted by any individual host.
The Payout can also include additional sums for temporary campaigns.

Payouts

‍Payouts are made in arrears within 15 days after a Payment Period has ended.
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Payouts in HNT

Available to everyone.
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Payouts in fiat (SEK)

Available to Swedish bank accounts. Galiot will deduct 1.5% of the payout to cover the exchange and bank fees associated with this.
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Galiot’s commitments

Optimization

Galiot undertakes to continuously try to improve the Network and the coverage rate for Hotspot held by the Host in order to increase the total Compensation from Hotspot. It can be, for example, new or changed hardware or accessories such as a better antenna.
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Shipping costs

Galiot is responsible for all shipping costs of Hotspot including accessories to the Host. In the event that the Host pays shipping costs, for example upon return, Galiot undertakes to reimburse the Host, receiving such a cost against the submission of a receipt up to an amount of a maximum of SEK 300 or EUR 30.

Host commitments

Installation of the Hotspot

The Host undertakes to install and connect the received Hotspot to the mains and Internet within two (2) days of the Hotspot being delivered. Installation should be carried out in accordance with the instructions provided by Galiot.
In the event that the delivered Hotspot is not online within two (2) days, Galiot has the right to reduce the Payout to cover fully the loss it has caused for Galiot.

Optimized Hotspot

The Host undertakes to ensure that the Hotspot at all times is;
- placed as high up as possible
- placed so that it is free from objects and obstacles outdoors in front of the Hotspot
- always connected to the mains and the Internet

Payment details

The Host must provide payment information to Galiot with complete and correct information within 7 working days before the end of a Payment Period. In the event that the Host does not provide correct payment information, Galiot is entitled to contain and/or retain Payouts that would have accrued to the Host during the Payment Period.For Payouts in HNT, an HNT account address must be provided.For Payouts in SEK (Swedish bank accounts only), fully specified bank details must be provided.

Applicable taxes

The payout will per default be to the Host as an individual. The Host can apply to receive the Payout as a business.

Sweden

Individual

Payouts to individuals in Sweden are considered to be a salary for temporary employment (Inkomst av tjänst, visstidsanställning). The value in SEK of the payouts acts as the basis for the gross salary, which includes holiday payment (semesterersättning). Galiot will deduct the preliminary income tax of 30% from the Host’s Share. Galiot will pay the employer's contribution (arbetsgivaravgift) to the Swedish tax agency (Skatteverket).
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Business / Legal Entity

The Host can apply to have their Payouts to a business. Galiot’s HNT earnings are exempted from VAT. Payouts to a business or legal entity are also VAT-free.

International

Individual

For Hosts who are resident outside of Sweden and who do not conduct business activities, Galiot does not perform any accounting or payment of tax that may arise due to the Payout. Such Host is responsible in its entirety for accounting, declaration and payment of any taxes of any kind.
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Business / Legal Entity

The Host can apply to have their Payouts to a business.In the event that the Host is a legal entity that is based outside Sweden and local legislation states that VAT shall be paid, the Host shall be responsible for and pay such tax.

Change or termination of this contract

The collaboration is valid until further notice, and both parties have the right to terminate it without prior notice.
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Galiot has the right too revise and change the contract without prior notice.
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Galiot reserves the right to change or terminate the agreement immediately if;
- The Hotspot has no or low functionality or low earnings
- The Hotspot for a longer period and/or on several occasions has been offline
- Galiot in repeated attempts did not succeed in getting in touch with the Host
- Galiot finds another reason to change the location of Hotspot or to end the collaboration with the Host
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In the event that the cooperation between Galiot and the Host ends, the Host must return the Hotspot and any accessories within three (3) working days.
Galiot has the right to withhold and/or settle earned Payout until the Hotspot is returned to Galiot.

Host liability

In the event of loss and/or damage of Hotspot and/or accessories
Galiot has the right to be reimbursed by the Host ​​to cover the loss/damage.

In the event of the Host not returning a Hotspot and/or accessories upon request Galiot has the right to invoice the host to cover the loss with a fixed sum of 8000SEK/800EUR per Hotspot.
If the host returns the Hotspot immediately upon receiving the invoice Galiot shall waive the invoice.
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Jurisdiction

The Parties agree that Swedish law shall be applicable and that any disputes shall be decided by a Swedish court where the Stockholm District Court shall be the first instance.

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