1. Terms and definitions
Account - Investor’s posting account on the Platform reflecting the balance of the Investor’s real amount of funds available for funding and invested in Projects.
Agreement - An agreement on use of the Platform consisting of these Terms, Registration rules, Investor’s registration application and Identification form and the Pricelist.
AML legal regulation - Estonian, European Union and International legal acts on anti-money laundering and counter-terrorism financing.
AML/CTF Policy - Operator’s Anti-money laundering and counter-terrorism financing policy.
Fundroom - Investor’s personal page on the Website.
GDPR - Regulation (EU) 2016/679 of the European Parliament and of the Council of 27 April 2016 on the protection of natural persons with regard to the processing of personal data and on the free movement of such data, and repealing Directive 95/46/EC (General Data Protection Regulation)
Identification form - A questionnaire available on the Website in the Investor’s Fundroom, which has to be filled up by the Investor for KYC purposes.
Investor - An individual or legal entity, who has passed registration on the Platform, has been identified and accepted by the Operator and receives the Services – uses the possibility to lend the funds to the Borrowers.
KYC - Process of identification, due diligence and analysis of the Investor in accordance with the AML Policy and internal procedures of the Operator and requirements of the Law.
Law - Any law applicable to the Services and relationship between the Operator and the third parties.
Member State - a European Union member state, the United Kingdom or Norway.
Operator - FUNDAUS OÜ (a limited liability company duly registered in the Republic of Estonia under the registration number 14643807, registered legal address: Harju maakond, Tallinn, Nomme linnaosa, Tina tn. 9, 10126, Estonia). More details and contact information is available on the Website.
Platform - An electronic system for Services available for the use on the Website.
Project - Offer of funding of business activities related to real estate development projects or business development projects, which is placed on the Platform.
Registration form - Online registration form for Investors on the Website.
Rules - These Registration Rules.
Services - Crowdfunding services that are provided by the Operator, which connects via the Platform those who can give, lend or invest money (the Investors) with those who need financing for a specific Project (the Borrowers).
User - User of the Platform who has passed the registration in accordance with the Rules.
Website - www.fundaus.com.
2. Statement of the Rules
2.1. These Rules are regulating the registration process on the Platform required for use of the Services by the Investors.
2.2. The User shall accept these Rules prior to the registration on the Platform.
2.3. These Rules become binding to the User from the moment of the acceptance.
2.4. These Rules shall become an integral part of the Agreement from the moment it is entered into by the User.
2.5. If any issues are not regulated by these Rules the conditions of the Terms and Conditions for investors shall apply.
3. Registration process
3.1. The potential User shall pass a registration before receiving the Services (this condition is applicable only to the potential Investors).
3.2. In order to proceed with the registration the potential User shall either click “Login” button on the start page of the Website and choose “Register” option, or go to the “For investors” page and complete the online Registration form.
3.3. Upon completion of the registration form the potential User shall enter the following information and click the “Register” button:
- An active own e-mail address;
- A password complying with the instructions of the Website (not less than 8 symbols; at least one figure and one capital letter);
- Repeated password (which shall match with the previously entered password);
- Choose either the potential User is an individual, or a legal entity;
- Confirm an agreement with these Rules.
4. Consequences of the registration
4.1. After the Registration form is filled up and sent the User will receive a verification link to its e-mail address provided upon the registration. The User shall follow the link and the respective email address will become verified.
4.2. The User shall receive its own identification number on the Platform (Investor ID) and be transferred to its Fundroom to the Identification section where the Identification form will be provided to it for completion.
4.3. The duly filled up Identification form accompanied with the documents requested by the Operator shall be sent to the Operator for KYC purposes and for an acceptance of the User. Any actions with funds and access to the detailed information on the Projects and the Borrowers are prohibited for unaccepted Investors.
4.4. If the User ceases to fill up the Identification form upon the primary entrance into the Fundroom, it may find it at any time for completion in the “Profile” section of the Fundroom. Once the User has passed KYC and is accepted by the Operator in accordance with its AML/CTF Policy and internal procedures related to AML, all the options of the Platform become available for the User.
4.5. If the User is rejected by the Operator or the use of the Platform and the Services is prohibited to it for any reasons the Operator shall notify it accordingly and proceed with deactivation of its Account on the Platform.
4.6. The combination of the User’s verified email address and the password shall be sufficient data for verification of the User and all its actions on the Platform after it is verified using these data, including, but not limited with, entrance into any agreements, giving the instructions and approving its consents, shall be considered as made by the User and reflecting its own will. The User waives all the possible objections in respect of this and recognizes the actions and the documents.
4.6.1. Each time the Investor logs into the Platform, the password shall be used.
4.6.2. The Operator may change the registration procedure and use the electronic vehicles for the registration and verification of the Investors on its own discretion. The instructions for use of these electronic vehicles shall be included into these Rules or shall be made available to the User other way via the Website. In some cases the Investor will be asked to and shall upload the special applications on its mobile phone in order to perform the registration.
4.6.3. Provided that the correct password has been entered to log into the Platform, it will be presumed that the person using the password is the Investor itself or is legally authorized by the Investor to do so and to make transactions in the name of the Investor, unless it notifies the Operator in accordance with these Rules and the Terms and Conditions.
4.6.4. The Operator can on its own discretion prohibit the person that has logged into the Platform from using the Services or to restrict its rights or refuse to follow the instructions given by the aforementioned person, if the Operator considers that there is a risk that third person(s), which is not identified and accepted by the Operator, possess the password of the Investor.
4.6.5. The Investor undertakes to keep its password confidential. If the Investor discloses its password to any person whom it authorizes to access its Fundroom, the Investor shall be responsible and liable for any possible consequences of such authorizations and instructions, including any losses incurred.
4.6.6. In case the Investor discovers that the security of its Fundroom may have been breached or has any kind of suspicions in this regard, it must notify the Operator immediately. If the Operator receives such notification from the Investor or determines itself that the security of the Investor’s Fundroom may have been breached, it shall prohibit the Investor from logging in to the Platform and using its services until the identity of the Investor has been verified.
4.6.7. Unless and until the Investor informs the Operator in accordance with these Rules and the Terms and Conditions:
126.96.36.199. the Investor shall be responsible for any information and/or instruction which the Operator receives from the person who has logged in to the Platform using the password and possible consequences of Operator’s actions performed based on such information and/or instruction, even if not given by the Investor; and
188.8.131.52. the Operator shall not be responsible for any unauthorized access to the Fundroom and Accounts of the Investor and/or information available in it as well as for any possible consequences of such unauthorized access and use of the aforementioned information, and any material and non-material losses that may be incurred.
4.6.8. The Investor’s Fundroom includes all the information in respect of Investor’s actions on the Platform, including the Investor’s status of identification, balance of the Investor’s Account, data on the investments made, documents related to the investments made by the Investor (including Loan agreements, Collateral agreements, Agent agreements, instructions, accepted versions of the Operator’s Terms and policies etc.) and other information.
4.6.9. For use of the Platform services in full regime the Investor shall pass the identification and KYC procedure in accordance with the Operator’s AML Policy, internal procedures and requirements of the Law, and receive the acceptance notice from the Operator by email. The results of such acceptance the Investor will find in its Fundroom in a form of activation of all the options of the Platform.
4.6.10. The Operator is entitled to correct the errors (if any) in the Investor’s Fundroom without notifying the Investor provided that this correction does not impact the Investor’s interests.
5. Change of data
5.1. The Investor may change its registration data – the password and the email address in its Fundroom on the Settings page.
5.2. The email address may be changed only for communication purposes, but not for authorization (logging into the Platform). The email address provided upon the primary registration and used for authorization shall remain unchanged.
5.3. The new email addresses for communication shall be verified before the use. The Investor will receive a verification link to its e-mail address provided upon the registration. The User shall follow the link and the respective email address will become verified.
5.4. The Investor is entitled to change its data provided for identification purposes by updating its identification form in its Fundroom at any time on its own discretion or on the Operator’s request in accordance with the Terms and Conditions and AML/CTF Policy. All the updated data shall be assessed and accepted by the Operator.
5.5. In any case the User is obliged to keep its data up-to-date and notify the Operator on any changes.
6. Block and renewal of the access
6.1. The Operator is entitled to block the User’s Account either on the User’s request, or in other situations described in the Terms and Conditions or other Operator’s documents.
6.2. If the access to the Account is blocked based on the knowledge or suspicions that the password became known to the third persons, the User shall receive the email with a link for creation of the new password.
6.3. If the access is blocked for other reasons the User shall communicate with the Operator by email for obtaining explanations and instructions for further actions. In some cases the new KYC procedure may be requested and shall be passed by the User.
6.4. The block of the access may be made permanently and without providing explanations by the Operator to the User if it is required by the Law or stated in the Operator’s documents.
7. Other User's obligations
7.1. The User shall keep its data up-to-date and notify the Operator on any changes by updating its registration data and the Identification form.
7.2. The User shall never use the Services for illegal purposes and use its own funds for investing, unless it is duly authorized to act in the interests of other persons.
7.3. The User shall acknowledge itself with all the Operator’s documents and information (including FAQ and Risk description) available on the Website and fully comply with all the conditions of use of the Services.
8.1. The Operator is entitled to communicate with the User using the email address provided by the User upon the registration on the Platform.
8.2. By accepting these Registration Rules the User gives its consent to receive the notifications from the Operator to its email address and confirms that it has access to the internet and agrees to be binding by the information send and received within the communication with the Operator by email. No additional notifications in originals shall be necessary from the Operator.
8.3. The Operator is entitled (but not obliged) to send the notifications on the investments made, fund transfers, agreements generated and other actions on the User’s account.
8.4. The User also agrees to receive the promotional notices, offers and information on the new Projects available on the Platform. The User is entitled to revoke this consent by notifying the Operator by email.
8.5. The User shall send its notifications to the Operator using the Contact form on the Website or by sending the emails to the email address: firstname.lastname@example.org.
9. Deactivation of the Account
9.1. The Operator is entitled to deactivate Account in the situations and procedures stated in the Terms and Conditions for Investors.
Version 1. In force from the 1st of March, 2020
© 2018 – 2020, Fundaus OÜ