L Hotels Latvia SIA 
Crypto Asset Service Integration with TBD

1. GENERAL PROVISIONS

1.1 Scope and Application

These Terms and Conditions (“Terms”) govern the provision of hospitality services by L Hotels Latvia SIA, registration number 40203609052 (“L Hotels”, “Company”, “we”, “us”) and the use of crypto asset payment services through our partnership with TBD (“VASP Partner”). By making a reservation or using our services, you (“Guest”, “Customer”, “you”) agree to be bound by these Terms.

1.2 Applicable Law

These Terms are governed by the laws of the Republic of Latvia and applicable European Union regulations, including the Markets in Crypto-Assets Regulation (MiCA) (EU) 2023/1114. All parties submit to the exclusive jurisdiction of Latvian courts.

1.3 Language

These Terms are prepared in English. In case of discrepancies with any translation, the English version shall prevail.

2. DEFINITIONS

“Crypto Assets” means virtual assets as defined under MiCA and Latvian law, including but not limited to Bitcoin, Ethereum, and stablecoins.

“CASP Services” means crypto asset service provider services offered through TBD under their respective licenses and authorizations.

“Guest Account” means your registered account for booking and payment services.

“Hotel Services” means accommodation, dining, spa, conference, and other hospitality services provided by L Hotels.

“Order” means any booking, reservation, or service request made through our systems.

“VASP Partner” means TBD Poland Spółka z ograniczoną odpowiedzialnością and associated entities providing crypto asset services.

3. ELIGIBILITY AND REGISTRATION

3.1 Age and Capacity Requirements

• Guests must be at least 18 years of age
• Must have legal capacity to enter binding agreements
• Corporate customers must be legally established entities with proper authorization

3.2 Identity Verification (KYC/AML)

All guests using crypto asset payment services must complete:

• Identity verification through valid government-issued photo identification
• Proof of address documentation
• Enhanced due diligence as required by Latvian AML/CTF legislation
• Additional documentation as requested by our compliance procedures

3.3 Prohibited Jurisdictions

Services are not available to residents of jurisdictions restricted under:

• Latvian CASP regulations
• TBD terms and conditions
• International sanctions lists
• Currently restricted jurisdictions include: Afghanistan, Belarus, Central African Republic, Cuba, Iran, Iraq, North Korea, Russia, Syria, Venezuela, and others as updated

4. HOTEL SERVICES

4.1 Reservations and Bookings

• All reservations require written confirmation via email
• Room rates include VAT and applicable municipal tourism taxes
• Check-in: 15:00 | Check-out: 12:00 (unless otherwise specified)
• Late check-out fees may apply subject to availability

4.2 Payment Terms

• Payment accepted in EUR, USD, GBP, and supported crypto assets
• Full prepayment required 72 hours prior to arrival for standard bookings
• Crypto asset payments processed through TBD integration
• All additional services must be settled upon departure

4.3 Guest Obligations

• Complete registration card as required by Latvian law
• Present valid photo identification at check-in
• Comply with hotel policies and house rules
• Responsible for all damages and additional charges incurred
• Settle all outstanding balances before departure

5. CRYPTO ASSET PAYMENT SERVICES

5.1 Service Provider

Crypto asset services are provided through our integration with TBD, a licensed Virtual Asset Service Provider. L Hotels Latvia SIA acts as an intermediary facilitating these services under applicable CASP regulations.

5.2 Supported Assets and Services

• Exchange of fiat currency for crypto assets
• Exchange of crypto assets for fiat currency
• Crypto-to-crypto exchanges
• Custodial wallet services (where applicable)
• Transfer and withdrawal services

5.3 Transaction Requirements

• All crypto transactions subject to real-time AML monitoring
• Transactions may be delayed or rejected for compliance reasons
• Additional verification may be required for large transactions
• Processing times vary by blockchain network and asset type

5.4 Pricing and Fees

• Crypto asset exchange rates determined at time of transaction
• Processing fees disclosed before transaction authorization
• Network fees and blockchain costs borne by customer
• Rates subject to market volatility and may fluctuate significantly

6. COMPLIANCE AND REGULATORY OBLIGATIONS

6.1 AML/CTF Compliance

L Hotels and its VASP partner maintain strict compliance with:

• Latvian Anti-Money Laundering and Counter-Terrorism Financing laws
• EU AML Directives
• Customer Due Diligence procedures
• Suspicious Activity Reporting requirements
• Transaction monitoring and record keeping (7-year retention)

6.2 Data Protection

Personal data processing complies with:

• EU General Data Protection Regulation (GDPR)
• Latvian Personal Data Protection Law
• Data retention requirements for financial services
• Cross-border data transfer regulations

6.3 Regulatory Reporting

We reserve the right to:

• Report suspicious transactions to authorities
• Freeze or suspend accounts pending investigation
• Cooperate with regulatory inquiries and law enforcement
• Maintain transaction records as required by law

7. LIMITATIONS AND RESTRICTIONS

7.1 Transaction Limits

• Daily, weekly, and monthly transaction limits apply
• Limits vary by customer verification level and risk assessment
• Enhanced limits available upon additional verification
• Institutional customers subject to separate arrangements

7.2 Service Availability

• Services may be suspended for maintenance or updates
• Geographic restrictions may apply
• Asset availability subject to market conditions and regulatory requirements
• We reserve the right to refuse service for compliance reasons

7.3 Risk Disclosures

• Crypto assets are highly volatile and speculative
• No guarantee of asset values or investment returns
• Regulatory changes may affect asset availability
• Technical risks including network congestion and security vulnerabilities
• No deposit insurance or guarantee fund protection

8. CANCELLATION AND REFUNDS

8.1 Hotel Reservations

• Cancellation policies vary by rate type and booking conditions
• Free cancellation typically available up to 24-48 hours before arrival
• No-show fees apply for unused reservations
• Special rates may be non-refundable

8.2 Crypto Asset Transactions

• Completed crypto transactions are generally non-refundable
• Refunds only processed in cases of:
  • Service provider error or system malfunction
  • Regulatory compliance requirements
  • Failed transactions due to technical issues
• Refund processing may take 5-14 business days

9. LIABILITY AND INDEMNIFICATION

9.1 Limitation of Liability

L Hotels’ liability is limited to:

• Direct damages arising from our negligence or breach of contract
• Maximum liability equal to the total amount paid for services
• Exclusion of indirect, consequential, or punitive damages
• No liability for third-party service provider failures

9.2 Customer Indemnification

Customers agree to indemnify L Hotels against:

• Losses arising from customer’s violation of these Terms
• Third-party claims related to customer’s use of services
• Regulatory penalties due to customer’s non-compliance
• Legal costs and expenses incurred in defending claims

9.3 Force Majeure

Neither party liable for delays or failures due to:

• Government regulations or sanctions
• Natural disasters or emergencies
• Technical failures beyond reasonable control
• Market conditions affecting crypto asset services

10. DISPUTE RESOLUTION

10.1 Internal Resolution

• Initial disputes addressed through customer service (support@lhotelslatvia.com)
• 14-day response timeframe for complaint resolution
• Escalation procedures available for unresolved matters
• Documentation required for all dispute claims

10.2 Mediation and Arbitration

• Alternative dispute resolution encouraged before litigation
• Latvian Consumer Rights Protection Centre available for consumer disputes
• Arbitration rules of Latvia Chamber of Commerce apply where agreed
• Legal proceedings in Latvian courts as final resort

11. AMENDMENTS AND MODIFICATIONS

11.1 Terms Updates

• Terms may be modified to reflect regulatory changes
• Major changes notified 30 days in advance via email
• Continued use constitutes acceptance of updated Terms
• Right to terminate relationship if changes unacceptable

11.2 Service Changes

• Crypto asset services may be added, modified, or discontinued
• Hotel services subject to seasonal availability
• Pricing and policies updated based on market conditions
• Advance notice provided where reasonably possible

12. CONTACT INFORMATION

L Hotels Latvia SIA
Registration Number: 40203609052
Address: [Hotel Address]
Email: info@lhotelslatvia.com
Phone: +371 [Hotel Phone]

Customer Support:
Email: support@lhotelslatvia.com
Hours: 24/7 for hotel guests, business hours for general inquiries

Compliance Officer:
Email: compliance@lhotelslatvia.com
AML Reporting: aml@lhotelslatvia.com

13. FINAL PROVISIONS

13.1 Severability

If any provision of these Terms is deemed invalid or unenforceable, the remaining provisions shall continue in full force and effect.

13.2 Entire Agreement

These Terms constitute the complete agreement between parties, superseding all prior agreements and understandings.

13.3 Assignment

These Terms are binding upon successors and assigns but may not be assigned by customers without our written consent.

Effective Date: 03 Jan 2024
Last Updated: 26 Sep 2025
Version: 3.7

By proceeding with your booking or using our services, you acknowledge that you have read, understood, and agree to be bound by these Terms and Conditions.