Notice on the new rules and regulations for order cancellation

In order to create a safer, more transparent and efficient P2P marketplace, the Bitget P2P has implemented some new measurements. These new measurements encourage both merchants and users to take actions which involve other parties with a sense of responsibility in mind. Furthermore, we wish to implement these new rules and regulations to minimize order cancellation without valid reasons or causes.

Please be noted, all the measurements mentioned only apply to takers on the BUY page.

Takers on the Buy page who initiated more than a certain number of cancellations within a calendar may trigger restrictions to trade on Buy page. The restriction applied depends on the nature and frequency of such cancellations.

Types of cancellation	Definition	Examples
Benign	A taker cancelled a P2P order due to uncontrollable circumstances or external factors	KYC mismatch Bank transfer issues Mutually agreed cancellation etc
Spontaneous	A taker cancelled a P2P order due to personal reasons	Placed the order accidentally/out of curiosity Order timed out due to unfamiliarity of product features etc
Malicious	A P2P order entered the appeal process and is judged as malicious cancellation by CS	Identified as scammer by CS Uploaded fake receipts Clicked paid and stopped responding etc

Restrictions may be applied for 15 min, 1 hour, 4 hours and 24 hours and takers who received such restriction will not be able to place any order on the BUY page within the restricted time frame. Such restrictions are accumulative and can be triggered repeatedly. For example, if a taker triggered the 15 mins restriction 3 times, it may become a 24 hour ban on the third trigger.

New users who are still learning about P2P products will enjoy more relaxed conditions but are still subject to the same types of restrictions. Extra malicious behaviours will lead to permanent account ban.