This Policy explains how Hazelbit SRL manages the lifecycle of hazelnut trees symbolized in Hazelbit Certificates and $HZTR NFTs, including rules for replanting, replacement, and force-majeure events that affect production. The aim is to ensure transparency and fairness to customers and NFT holders.
This Policy applies to:
• All hazelnut trees planted under Hazelbit programs.
• All $HZTR NFTs representing trees.
• All related Harvest Benefit rights.
approx. 30 years
3–5 years from planting
depends on soil, irrigation, weather, and agricultural practices
If a tree dies naturally or due to disease, Hazelbit will replant a replacement tree of similar age (where feasible) or assign the NFT holder to another comparable tree in the same plantation.
If yield is reduced but the tree survives, Hazelbit will continue cultivation; no compensation is due for seasonal variation.
• Replacement does not extend the original 30-year NFT term.
• Hazelbit may substitute the tree with another from the same plantation cluster.
Force-majeure includes events beyond Hazelbit's reasonable control, such as:
floods, earthquakes, wildfires, droughts, pests, epidemics
armed conflict, political instability, sanctions, government seizure
fertilizers, energy shortages
restrictions
• Hazelbit will take reasonable agronomic measures to mitigate losses.
• If entire sections of plantations are destroyed, Hazelbit may replant new trees and reassign NFTs.
• If replanting is impossible (e.g., permanent land loss), Hazelbit may terminate affected NFTs with notice.
• Harvest Benefit (40% share of yield) may be reduced or suspended in years when yields are severely impacted by force-majeure.
• No monetary compensation is guaranteed in such cases.
• Where possible, Hazelbit may offer alternative credits or future-year adjustments, at its discretion.
If Hazelbit determines that continuation of the project is impossible (e.g., plantation permanently destroyed):
• Hazelbit will notify NFT holders and certificate sponsors.
• Hazelbit will provide a summary of losses and efforts taken.
• NFT rights will terminate automatically, without refund, unless otherwise required by law.
• Hazelbit may maintain agricultural insurance (fire, pest, storm) where economically feasible.
• Insurance proceeds, if any, will be applied to replanting and project continuity.
• NFT holders are not direct beneficiaries of insurance policies.
• Agricultural projects inherently involve biological and climate risks.
• Hazelbit does not guarantee uninterrupted yields or continuity in all circumstances.
• This Policy is intended to demonstrate good faith risk management, not a contractual guarantee of replacement or harvest.