Bailsman ICO

Disclaimer of Liability
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Disclaimer of Liability
IMPORTANT INFORMATION
PLEASE REVIEW THE PRESENT SECTION
“IMPORTANT INFORMATION” CAREFULLY. WE
RECOMMEND THAT YOU CONSULT WITH YOUR
LEGAL, FINANCIAL, TAX, TECHNICAL OR OTHER
PROFESSIONAL ADVISOR(S).
No part of this White Paper is to be reproduced,
distributed or disseminated without including this
section “Important Information”.
The White Paper and the information available in this
White Paper is provided for informational purposes
only, describing the technical and business aspects
of the BAILS tokens and the token sales, as well
as business plans of Bailsman. While Bailsman has
exercised good care while compiling this White Paper
and has presented herein the information that Bailsman
deems relevant, then the information presented in
this White Paper does not aim to be exhaustive and
it is likely that some information that the purchaser
of BAILS tokens deems relevant, cou...

Disclaimer if Liability
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sale of the tokens does not constitute the issuance of
securities. However, in spite of the above, legislation
of certain jurisdictions may, now or in the future,
categorise BAILS tokens as securities. Bailsman does
not accept any liability for such recognition and/or
any legal and other consequences of such recognition
for potential owners of BAILS tokens, nor provide
any opinions or advice regarding the acquisition,
sale or other operations with BAILS tokens. This
White Paper does not oblige anyone to enter into any
contract, to take legal obligations with respect to the
sale or purchase of BAILS tokens, and to accept any
cryptocurrency or other form of payment. Potential
owners of BAILS tokens are advised to contact
relevant independent professional advisors, on the
above matters.
Certain statements, estimates and financial information
contained herein constitute as forward-looking
statements or information. Such f...

Abstract
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1. Abstract
It has become common practice in several
business sectors to ask clients for a security
deposit, predominantly in real estate rental,
accommodation, and car rental markets.
The current market situation requires that
clients possess large amounts of extra funds
for security deposits, which either they
don’t have or can use for other purposes.
At the same time, those security deposit
funds are tied down, unused for the whole
service period (in some cases even longer),
and cannot be used by either party for more
necessary or profitable purposes. On the
other side, in order to keep security deposits
affordable, merchants are forced to take
uncovered risks against clients.
The optimal solution would consider the
primary needs of both parties - affordability
for clients and lower risks for merchants.
An
overall “win-win” solution for both sides
would be a trustworthy third party that
c...

Contents
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2. Contents
1. Abstract
4
2. Contents
5
3. Introduction
6
4. What is Bailsman?
8
5. Business Sectors
16
6. Platform and Interfaces
25
7. BAILS Tokens
32
8. Sale of Tokens
33
9. Roadmap
37
10. Team and Advisors
38
11. Risk Factors
41
12. References
44
...

Introduction
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3. Introduction
Business transactions require a certain amount of trust between a client and
a merchant; credibility and risks associated with it can be a worry to both.
Although many companies are able to provide estimated credit scores and
background information, there is never a guarantee, so trust is replaced with a
security deposit to minimise the risk of debt and damage.
Security deposit market size
It has become common practice in several business
sectors to ask for a security deposit. The
real estate
rental market (both residential and commercial)
is
a huge sector where security deposits are a firm part
of business transactions. In both cases, landlords ask
for a security deposit equal to a certain number of
months of the rent, which can add up to a significant
sum. Global residential security deposit funds are
estimated to be
more than $300 billion USD
[2]. The
size of the commercial real estate rental...

Introduction
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Security deposit problems
There are
two different ways for merchants to
acquire a security deposit
. They either obtain the
sum in the form of cash or via bank transfer, or the sum
is held from the client’s credit card as a pre-authorised
transaction. In either case, the client needs to have
the required sum right from the start, and in case a
claim is made, the funds are immediately available to
the merchant. While the first option lets the merchant
use the deposited amount, the second option simply
locks up the funds for the whole service period. As the
service period can be long and the deposited amount
can be quite large, this is not ideal, especially for the
client.
At the same time, merchants face a dilemma. The
security deposit should cover any damages, but these
damages could cost much more. Although
merchants
want to increase the security deposit as much as
possible
, they also need to co...

What is Bailsman?
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4. What is Bailsman?
Bailsman is a
cloud-based security deposit solution that works on Ethereum
and KSI blockchain
. It is designed for clients who don’t have the ability or will to
make a large initial payment and lock up their finances.
Bailsman provides a third party guarantee to the
merchant for a small fee that is paid by the client,
meaning there is no longer any need to make a
security deposit payment and tie up cash. At the same
time, Bailsman allows merchants to ask for the needed
security deposit amount, free of charge, and without
fear of frightening potential clients away.
In case a claim is made by the merchant, the client
needs to pay the requested sum, which cannot exceed
the previously agreed security deposit amount.
Bailsman only provides
guarantees that are 100%
backed by licensed financial institutions or telecom
companies
on respective client markets, and are
publicly known to t...

What is Bailsman?
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Process
To provide a guarantee, Bailsman’s process connects merchants to clients and financial institutions or telecom
companies. Blockchain is an integral part of this process.
Guarantee process
To make sure all processes work seamlessly, Bailsman
has set up API integration with all of their partners. A
client is pre-screened within 10 seconds and informed
of their status. A personal ID number is all that is
needed for an instant response.
...