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1. FINHUB Terms of Business is an integral part of the User Agreement, so before accepting FINHUB Terms of Business, please make sure that you have studied, understood and accepted the entire text of the User Agreement. If you disagree with any of the conditions of the FINHUB Terms of Business and / or the User Agreement, please immediately stop using the FINHUB Website.
2. FINHUB business conditions – defines, including, but not limited to, the conditions and procedure under which each FINHUB Website User accesses and uses the FINHUB Website and Services provided through the FINHUB Website, as well as the procedure for creating placing projects on FINHUB and the procedure for financing these projects.
3. Terms with a capital letter not defined in this document have the meaning indicated in other documents that make up the User Agreement.
4. The terms used here starting with a capital letter have the following meanings:
a) Contribution contributions in exchange for providing rewards, or
b) Investment amounts in exchange for the issue of Shares, the provision of a share in the Authorized Capital and / or the provision of a loan (as the case may be), subject to the achievement of the Target Amount.
5. FINHUB classifies each Investor / Lender as a certified individual and / or legal entity with a high level of equity, experienced lender or retail client. The Investor / Lender is responsible for self-certification, where appropriate and applicable, and does so truthfully and completely.
6. Each Investor / Lender by creating an Account expresses an unconditional understanding of the risks associated with doing business on FINHUB, as well as the risks associated with investing and / or Crediting Companies. Before creating an account, based on the answers provided in this questionnaire, in some cases it may be necessary to exclude one or more Retail investors from access to some or all of the Debt Services.
7. In order to make an investment in the Campaign, the Lender / Investor must make sure that his account contains funds at least equal to the Investment amount.
8. When the Lender / Investor makes an Investment, the Investment Amount is transferred to FINHUB accounts and stored there, until the Target amount is collected, it is deducted from the available funds in his Wallet and transferred to the FINHUB Deposit Wallet.
9. If the Campaign has reached its Target amount before the Campaign Closing Date, the Investment Amount must be transferred from the FINHUB deposit account to the FINHUB special account, from which, in accordance with the provisions of the User Agreement (including all its annexes), payments are made in favour of Campaigns.
10. If the Campaign has not reached its Target amount before the Campaign Closing Date, and FINHUB has not extended the Campaign term, the Investment amount should be transferred from the FINHUB deposit account back to the User’s accounts, and the User shall bear all expenses associated with the transfer of funds.
11. If the User makes payment for the purpose of investment, credit, donation, etc. to a Campaign that reaches the Target Amount, you unconditionally authorize FINHUB to act as your agent to conclude any agreement on your behalf regarding the Campaign for which you paid.
12. The Lender / Investor agrees that FINHUB is permitted to sign in any capacity on behalf of the Lender / Investor, including, without limitation, as an agent, any document or to take any action necessary to fulfill any issues set forth in these Website Terms , The terms of the user or any other conditions applicable to your transaction using the FINHUB platform. These powers should include, but are not limited to, signing any exceptions to pre-emptive rights, shareholder agreements, loan agreements and other documentation with any Campaign Creator.
13. All users, including, but not limited to, acknowledge, agree and undertake to represent only themselves or the company they represent.
14. After completing the registration process and creating an Account, the Campaign Creator who wants to create a Debt Campaign must complete the business profile and business plan sections of his toolbar on the Website before submitting the campaign description to FINHUB.
15. To provide a description of the campaign, the campaign creator must provide at least:
– (i) Passport/ or ID card number; and
– (ii) address history;
16. FINHUB shall not be liable for any loss or loss incurred due to inaccuracy of the data listed in paragraph 15.
17. After the Campaign Description has been submitted by the Campaign Creator, FINHUB will review the information provided and, at its sole discretion, will either decide to approve, amend or reject the Campaign Creator Campaign Description for publication on the Website.
18. The campaign will be eligible for approval only if the following requirements are met:
19. The creators of the Campaign agree to make every effort to conduct their business in accordance with what was presented in the Campaign Description.
20. If the Campaign Description has been approved by FINHUB, the Campaign must begin on the day of approval, and Lenders / Investors can begin to carry out the investment process by making payments to FINHUB accounts. When making an investment, each Lender / Investor unconditionally agrees to conclude all the necessary agreements for financing the Company, and also authorizes FINHUB to act as its agent, which is vested on behalf of the Lender / Investor with the conclusion of these agreements, agreements, etc.
21. The campaign ends on the Closing Date of the Campaign, after which the Creator of the Campaign is notified to FINHUB of the achievement or non-achievement of the Target amount. If the Target amount has been reached, the Campaign Creator is obliged to confirm within three working days the intention to accept the collected investments, as well as confirm the consent and intention to sign the necessary agreements that will be indicated by FINHUB. For the avoidance of doubt and in accordance with the rest of the User’s Terms, nothing in these Terms of Debt should prevent the Creator of the Campaign from cancelling the Campaign at any time before the Campaign Closing Date.
22. If the Campaign reaches the Target amount prior to the Closing Date of the Campaign, and the Creator of the Campaign accepts the conditions set forth in paragraph 21, then the Creator of the Company must:
23. Lenders / Investors acknowledge that when FINHUB approves the Campaign Description, it does so as the governing electronic system for lending. Lenders / Investors both acknowledge and agree that the FINHUB approval of the campaign description does not confirm the description of the Campaign as a whole, and that no conclusions can be drawn on it.
24. Lenders / Investors can view current Campaigns by going to the Opportunities page of the Website when they enter the Website.
26.After the Lender has made an Investment in the Campaign, it is not refundable, unless:
28. Any third party fees (including but not limited to the FINHUB fee) or transaction fees will be charged to the Lender / Investor, so the Campaign Creator will receive the collected amounts minus these fees.
30. The Creator of the Campaign acknowledges and agrees that failure to fulfil obligations to repay the Loan may lead to:
31. The Creator of the Campaign may, at its discretion, return all (but not part) of the Investments to Lenders / Investors at an earlier time than specified in the Business Plan and or the Description of the Campaign. If the Creator of the Campaign decides to return the Investment ahead of schedule, he will not be charged early repayment, but he will have to pay interest / dividends for the full month for the month in which he decides to return the Investment.
32. If any of the following events occurs at any time, any Investment Agreement (with the exception of the Investment Return Agreement) relating to the Campaign shall immediately terminate and the entire investment amount or the remaining investment amount shall be immediately paid to the Lenders and / or FINHUB (which acts as an agent on behalf of all lenders):
33. For the avoidance of doubt, FINHUB (or his candidate) is not liable if the investments are not properly registered by the Creator of the Campaign with state authorities and all responsibility lies with the Creator of the Campaign.
34. The Creditors / Investors and the Campaign Creator acknowledge FINHUB’s right to sell or transfer the Encumbered Assets to a third party and distribute the proceeds to repay the Campaign Creator’s debt to the Lenders.
35. The creator of the Campaign is not entitled to transfer any of his rights and obligations acquired in connection with the use of the FINHUB platform.
36. Each Lender may transfer, by novation, his right, title and interest in Investments, as well as all rights associated with him, to any other eligible participant who has an account with FINHUB (who is the “New Lender / Investor”), and each Campaign Creator gives preliminary consent to this assignment.
37. The transfer of the rights of the Lender / Investor is carried out:
38. FINHUB charges a fee of 1% of the sale / assigned price from Lenders / Investors when issuing the Cession Notice and the Cession Agreement.
39. FINHUB charges the Creators of all successful Campaigns that achieve at least the target value:
|6,00%||Up to||EURO 500 000|
|2,50%||More than||EURO 500 001|
40. FINHUB will charge an annual mediation fee of 1% of the outstanding principal amount (“Mediation Service Fee”), which is paid monthly.
41. The monthly fee rate for intermediary services will be deducted from the amounts received from Lenders / Investors upon receipt of each monthly payment from the Campaign Creator (therefore, each Lender must receive its monthly payments minus the fee for intermediary services). If the Creator of the Campaign misses the repayment, the Commission for intermediary services related to this repayment will not be deducted from the funds of the Lender / Investor until this compensation is received. The mediation fee covers our role in providing mediation services in connection with the introduction between the Lender / Investor and the Campaign Creator. This fee does not cover administration and investment promotion costs.
42. For all payments made in accordance with the Investment Agreement, the Campaign Creator shall, where applicable, withhold any and all relevant interest taxes at the source and report them to the appropriate tax authority until payment is made.
43. The Lender / Investor acknowledges and agrees that the gross taxable income derived from each repayment in accordance with the Investment Agreement must be declared to the appropriate tax authorities. For the avoidance of doubt, although FINHUB processes each repayment in such a way that the Lender / Investor receives the repayment minus the Fees for intermediary services and any other taxes withheld at source, the Lender / Investor should, where applicable, declare the gross taxable income from each repayment, as if mediation fees or other taxes were not deductible.
44. The Lender / Investor acknowledges and agrees that, by entering into an investment agreement, he understands the inherent risks arising from various tax rules and legislation.
45. The creators of the Campaign are advised not to take any action depending on the Campaign that reaches the Target Amount until they can withdraw funds in accordance with the terms specified in the Investment Agreement.
46. FINHUB reserves the right to cancel / decline the provision of collateral from the Lender / Investor for any reason and at any time.
47. FINHUB reserves the right to cancel, interrupt, suspend and delete the Campaign for any reason and at any time. FINHUB is not liable for any damage resulting from any action taken in accordance with this paragraph.
49. If the Creator or the Lender / Investor has any questions regarding the Campaign, he can view our frequently asked questions page or, alternatively, contact us by phone or email indicated on the FINHUB website.
50. Taking into account the time, costs and efforts undertaken by FINHUB to investigate your business and verify its suitability for placement on the Platform, you undertake for the period from the date you sent your Campaign and the next 36 months after (“Exclusion Period” ), you agree not to list or represent your business for listing on any other crowdfunding platform during the Exclusivity Period. You acknowledge and agree that FINHUB will spend significant time and money preparing your business for placement on the Platform. You agree with FINHUB that the approximate cost of FINHUB of this work on a commercial basis is 5,000 Euros and that this amount is a reasonable estimate of the cost of the work incurred and incurred by FINHUB. You agree that FINHUB may, in its sole and absolute discretion, require you to pay an amount equal to its costs for preparing your business for a listing not exceeding 5,000 Euros, in the form of compensation for losses in case of violation of the exclusivity described above and failure complete the campaign on the Platform.
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