Paying entity
The prize is paid out by the entity that concluded the sponsorship agreement for your prize: either TUM Blockchain Club e.V. or Web3 Munich UG (haftungsbeschränkt) (each the "Organiser"). We will tell you which entity pays your prize.

Payout on behalf of the sponsor
The Organiser receives the prize money in the name and for the account of the respective sponsor and forwards it to the winners. The payout is made after the sponsor's funds have been received and the information in this form has been verified.

Payout method, currency and costs
Prize amounts are announced in EUR. The team chooses one payout method per prize: USDC (ERC-20) on Ethereum Mainnet or bank transfer in EUR. The Organiser forwards the prize money as received from the sponsor. If the sponsor paid the prize in USDC and you choose USDC, you receive the USDC amount received for your prize. If a conversion between EUR and USDC is necessary for the method you chose, it is made at the exchange rate actually obtained by the Organiser at the time of conversion. The Organiser bears the Ethereum network (gas) fees for USDC payouts and the costs of SEPA bank transfers in EUR. Only additional costs caused by the payout method or bank chosen by the recipient, in particular bank charges for transfers outside the SEPA area (including charges of intermediary and receiving banks) and conversion fees, are borne by the recipient and deducted from the payout amount. The Organiser does not compensate for exchange rate differences.

Change of payout method
If a bank transfer to the recipient's country or bank is not possible or only possible at disproportionate cost, in particular due to banking or sanctions restrictions, the Organiser may, after informing the recipient, pay out the prize in USDC (ERC-20) on Ethereum Mainnet instead, provided this is legally permitted. No payout will be made, in any form, if it would violate applicable sanctions or anti-money-laundering laws.

Accuracy of the wallet address
The recipient is solely responsible for the correctness of the wallet address and its compatibility with ERC-20 tokens on Ethereum Mainnet. Blockchain transactions are irreversible. TUM Blockchain Club e.V. and Web3 Munich UG are not liable for any loss resulting from an incorrect, incompatible or inaccessible address provided by the recipient, except in cases of intent or gross negligence on their part. The same applies to the bank details provided for a bank transfer; costs of returned or misdirected transfers caused by incorrect bank details are borne by the recipient.

Payment on behalf of the team
The person submitting this form receives the prize on behalf of all team members and is responsible for distributing it within the team. With the transfer to the wallet address or bank account provided, the payout obligation towards the entire team is fulfilled.

Taxes
No taxes are withheld. Prize money may be subject to income tax or other taxes depending on your country of residence. Each recipient is solely responsible for declaring and paying any applicable taxes.

Eligibility, sanctions and verification
Payouts are subject to the official hackathon rules. Submissions are checked against the official results and the hackathon registration data. The Organiser may request identity verification and may withhold or refuse a payout if the rules were violated, the information provided is incorrect, or the payout would breach applicable sanctions or anti-money-laundering laws. Anyone who obtains a prize by false statements must repay it in full.

Governing law and jurisdiction
These terms are governed by the laws of the Federal Republic of Germany. To the extent legally permissible, the place of jurisdiction is Munich, Germany.