Terms

Last update: 26.06.2020.

Terms of Service

  • General

 

    • This document (hereinafter - Terms of Service) regulates the legal relations between the registered Clients (hereinafter - Client) of the website https://crowdestor.com and its subpages (hereinafter - Crowdfunding platform) and Crowdestor OÜ (registry code 14388462 located at Roosikrantsi tn 2, Tallinn city, Harju county, 10119, e-mail info@crowdestor.com (hereinafter - Crowdfunding service provider), arising from the usage of the Crowdfunding platform.

 

    • By registering as a Client and creating a Client account (hereinafter - Client Account) with the Crowdfunding platform, the Client agrees with the Terms of Service and thereby an agreement under these Terms of Service is concluded between the Client who registers a Client account and the Crowdfunding service provider.

 

    • The Crowdfunding service provider reserves the right to amend or supplement the Terms of Service or lay down additional conditions. These amendments and supplementations shall enter into force from the moment when the Client has agreed with the new Terms of Service via the Crowdfunding platform.

 

    • By commencing the use of the Crowdfunding platform, the Client confirms to have read the Terms of Service, understood them and agreed to them.

 

  • Services of the Crowdfunding service provider

 

    • The Crowdfunding service provider shall enable the registered Clients of the Crowdfunding platform to use the Crowdfunding platform for its intended purpose.

 

    • The Crowdfunding service provider has the sole right to change the Crowdfunding platform functionality and Terms of Service without advance notice, including limiting or adding functionality to the Crowdfunding platform.

 

    • The primary purpose of the service provided by the Crowdfunding service provider is matching of business funding interest of investors and project owners through the use of a crowdfunding platform and which includes granting of loans;

 

    • The services provided by the Crowdfunding service provider relate to introductory functions only and, among other, the services provided by the Crowdfunding service provider and the security agent do not include the following:

 

      • guaranteeing or otherwise underwriting the availability or accessibility of funds to the Clients, or ensuring the performance of the financial obligations of the Client(s);

 

      • accepting deposits or other refundable instruments or giving of loans or other financings on its own account or behalf;

 

      • providing investment advice or legal advice;

 

      • provision of payment services.

 

    • The Crowdfunding service provider performs an administrative function in the execution and performance by the Clients of loan documents with the view to facilitating loans between Clients and communication between Clients. When collecting any amounts owed by a borrower, the Crowdfunding service provider and/or the security agent acts at its own discretion on the basis of what the Crowdfunding service provider considers to be, and in the Crowdfunding service provider’s experience is, in the best interests of the lender.

 

    • The Crowdfunding service provider and the security agent are not parties to the loan contract(s) entered into via the Crowdfunding platform but in certain cases the Crowdfunding service provider and/or the security agent are entitled to rely on the provisions of the loan contract and demand on their own behalf the performance of certain provisions of the loan contract.

 

    • Among other, the Crowdfunding service provider and security agent are not liable for:

 

      • the performance of a Client’s (including borrower’s) obligations;

 

      • the trueness or accuracy of information and/or confirmation(s) published or provided by a Client (including a borrower) in the Crowdfunding platform or any loan document and no warranty or representation is made by either the Crowdfunding service provider or the security agent in respect of the same. This exclusion of liability shall also apply to any details and other information published in the Crowdfunding platform in respect of projects and Clients;

 

      • any disruptions or impediments that may occur in the operation of the credit institution, including any losses which may directly or indirectly be incurred as a result of the insolvency or moratorium of such credit institution or any other similar event;

 

      • losses incurred as a result of any act or failure to act by the third parties whose economic or professional activity includes the collection of debts and the provision of related services;

 

      • the scope, content, suitability and enforceability of contracts and other legal documents used in the Crowdfunding platform, including those used for the carrying out of transactions through the Crowdfunding platform;

 

      • any bugs or disruptions that occur in the Crowdfunding platform or amendments made in the Crowdfunding platform or the consequences of termination of the operation of the Crowdfunding platform;

 

      • the trueness and accuracy of any forecasts, including financial indicators and forecasts of any project, published in the Crowdfunding platform and no warranty or representation is made by neither the Crowdfunding service provider nor the security agent in respect of the same;

 

      • any circumstances that derive from or depend on the identity of a Client.

 

      • any non-patrimonial damages, loss of profit or other indirect losses, or other damages caused as a result of its conduct other than intentional misconduct.

 

    • Permission for a Client to make a loan request and assigning a risk category to it in the Crowdfunding platform does not constitute any of the following:

 

      • an investment recommendation or other endorsement by the Crowdfunding service provider in respect of the relevant loan request;

 

      • the Crowdfunding service provider’s confirmation or any other indication that the person making the loan request is creditworthy;

 

      • the Crowdfunding service provider’s confirmation that the relevant project is viable;

 

      • the Crowdfunding service provider’s confirmation that the investor will get the relevant investment back or make any profit from it.

 

    • The Crowdfunding service provider may make changes in the Crowdfunding platform, including expanding, changing or removing its functions, at its own discretion at any time without asking permission of the Clients for it or giving prior notice to the Clients. Among other, the Crowdfunding service provider may terminate the operation of the Crowdfunding platform at its own discretion at any time.

 

  • Fees and expenses

 

    • All expenses and fees related to the use of the Crowdfunding platform shall be paid by the Client according to the Crowdfunding platform’s price list accessible at http://www.crowdestor.com/price. The Crowdfunding service provider shall automatically debit (without an additional authorization from the Client) the expenses and fees from the Client’s Account for the transaction in relation to which the Crowdfunding service provider has the right to request reimbursement of expenses or payment of a fee.

 

    • Unless stated otherwise in the principle loan terms, the Borrower undertakes to pay the following fees to the Crowdfunding service provider:

 

      • Structuring fee (hereinafter - Structuring Fee);

 

      • an administration fee (hereinafter - Administration Fee);

 

      • all costs related to the conclusion of loan and pledge agreements (incl. registration of pledge);

 

      • other fees agreed on in the principal loan terms. The exact amount of each fee is provided for in a separate pricelist.

 

  • Client Account

 

    • In order to use the Crowdfunding platform a person is required to register a Client Account in his name.

 

    • Upon registration the Crowdfunding service provider will conduct a background check of the private person registering the Client Account. A person applying for registration of a Client Account is required to submit to the Crowdfunding service provider any and all information that the Crowdfunding service provider requests. Only private persons who have passed the Crowdfunding service provider’s background check to the extent that the Crowdfunding service provider deems necessary can register a Client Account to their name. The Crowdfunding service provider has the unilateral right to refuse to open a Client Account.

 

    • Upon registering a Client Account, a person enters their contact information and other data required by the Crowdfunding service provider into the respective environment and selects a unique Clientname and password.

 

    • The Crowdfunding service provider shall have the right to limit the rights of certain groups of Clients (e.g. of persons who give loans via the Crowdfunding platform) in terms of specific usage rights, including limiting access and/or usage rights with respect to certain parts of the Crowdfunding platform. The Crowdfunding service provider does not have to ask for a separate consent from the Client when the Crowdfunding service provider wishes to execute the limitation of the rights of certain groups of Clients.

 

    • In order to enter the Crowdfunding platform, a Client is required to enter their Clientname and password. In order to use the Crowdfunding platform, the Crowdfunding service provider may unilaterally request the Client to identify him/herself via ID card, Mobile-ID, bank link or any other identification method acceptable to the Crowdfunding service provider. In order to submit declarations of intent and give approvals that bear legal consequences, the Crowdfunding service provider may request the verification of the Client’s signature via ID card, Mobile-ID, bank link or mobile communication or any other authentication method.

 

 

 

  • Payments

 

    • Client Account is designed for the purpose of performing transactions via the Crowdfunding platform.

 

    • In order to perform transactions via the Crowdfunding platform, Client has to transfer funds to the Crowdfunding service provider Client Account. Client is required to indicate the individual reference number generated by the Crowdfunding platform for the Client Account in the payment order.

 

    • The Client Account shall reflect the sum of funds transferred by the Client to the Crowdfunding service provider for the purposes of performing transactions via the Crowdfunding platform and the funds received from other Clients as a result of transactions concluded by the Client via the Crowdfunding platform. The sums payable to other Clients as a result of transactions made by the Client via the Crowdfunding platform and sums subject to payment or compensation according to the Terms of Service to the Crowdfunding service provider, shall be deducted from the Client Account.

 

    • The Client can make declarations of intent via the Crowdfunding platform, including making offers to execute transactions via the Crowdfunding platform and conclude transactions, only if the Client Account has a non-booked positive balance in the amount necessary for the transaction (i.e. a sum that is sufficient for performing the obligations of the Client related to the respective transaction to the other party of the transaction and the Crowdfunding service provider) at the time of making the offer and concluding a transaction.

 

    • The Client may transfer funds to the Crowdfunding service provider only from a bank account registered to the name of the Client in a licensed credit or payment institution, which is registered or operating in a state which is a Contracting Party to the European Economic Area Agreement or in a state where equivalent money laundering and terrorist financing prevention measures are applied.

 

    • The Crowdfunding service provider shall have the right to request documents, which confirm compliance of the bank account with the conditions referred to herein.

 

    • If the bank account from which a transfer was made to the Crowdfunding service provider does not belong to the respective Client or does not meet any other conditions, also if the reference number set forth in Article 5.2 is not indicated in the payment order, the Crowdfunding service provider shall have the right to transfer the sum back to the person who made the transfer and request from the Client compensation of expenses related to returning of the payment (automatically deducting them from the Client Account).

 

    • Unless provided otherwise in the Terms of Service, the Client may request from the Crowdfunding service provider, to the extent of the positive balance of the non-booked funds reflected in the Client Account, payment of the funds reflected in the Client Account to the Client, by giving a payment order to the Crowdfunding service provider via the respective application of the Crowdfunding platform. The abovementioned order shall be considered as instructions of the Client to the Crowdfunding service provider to transfer the sum referred to in the order (to the extent of the non-booked positive balance of the account) via a bank transfer to the bank account of the Client.

 

    • The Crowdfunding service provider shall make payments to the Client only to the bank account disclosed to the Crowdfunding service provider by the Client. The Client has the right to request from the Crowdfunding service provider to make the payments only to the bank account registered to the name of the Client in a licensed credit or payment institution, which is registered or operating in a state which is a Contracting Party to the European Economic Area Agreement or in a state where equivalent money laundering and terrorist financing prevention measures are applied.

 

    • The Crowdfunding service provider shall have the right to refuse to make a payment to the bank account that does not belong to the Client or does not meet any other conditions (the Crowdfunding service provider shall have the right to request documents, which confirm compliance of the bank account with the conditions referred to herein).

 

    • If a Client wishes to change the Client’s bank account number previously provided to the Crowdfunding service provider, the Client shall inform the Crowdfunding service provider of the new bank account number via the respective application of the Crowdfunding platform, thereby confirming that the bank account has been opened in the name of the Client and complies with other terms and conditions mentioned before.

 

    • The Client shall cover the transfer expenses for the transfers made by the Client to the Crowdfunding service provider. Expenses related to the payments made by the Crowdfunding service provider to the Client and other expenses related to the payments made for the purposes of execution of transactions and activities by the Client shall be reimbursed to the Crowdfunding service provider by the Client according to the price list established by the Crowdfunding service provider. The Crowdfunding service provider shall have the unilateral right to change the aforementioned price list by publishing the new price list in the Crowdfunding platform at least 5 (five) working days before its entry into force.

 

    • No other financial obligations can be fulfilled, or payments made through the Client Account. Among other things, it is forbidden to make payments from one Client Account to another Client Account, except for the payments made automatically and according to the Terms of Service by the Crowdfunding platform for the purposes of executing the transactions concluded through the Crowdfunding platform.

 

  • Separation of Funds

 

    • As a mandatary, the Crowdfunding service provider shall keep the funds transferred to him by the Clients in the bank account, which the Crowdfunding service provider has opened on its name solely for this purpose in a licensed credit or payment institution, which is registered or operating in state, which is a Contracting Party to the European Economic Area Agreement.

 

    • The funds on the Crowdfunding service provider’s respective bank account are excluded from the Crowdfunding service provider assets. The Crowdfunding service provider shall keep the funds of the Clients separately from its own funds. The funds transferred by the Client to the bank account of the Crowdfunding service provider shall belong to the Client to the extent of the positive balance of the Client Account. The Crowdfunding service provider shall not calculate interest on the funds of the Client kept with the Crowdfunding service provider and no such interest shall be payable to the Client.

 

 

  • Loan Agreements

 

Lending Funds

    • A Client who wishes to lend funds selects a Clients Account through which the loan agreement is concluded. A Client can lend funds only from the non-booked funds that are displayed as a positive balance on the Client’s Account. A Client cannot lend funds if the amount of loan to be lent and the sum paid to the Crowdfunding service provider upon executing the transaction exceed the non-booked positive balance on their Client Account.

 

    • In order to lend funds, Client shall submit, through the respective application of the Crowdfunding platform, a declaration of intent to lend funds (i.e. an acceptance to lend funds). The Client specifies the amount of loan offered and approves the conditions for the loan (lending funds according to the offer submitted by the borrowing Client and terms and conditions of a loan agreement established by the Crowdfunding service provider). The terms and conditions of the loan that are not specified in the acceptance to lend funds or the offer submitted by the borrowing Client shall be governed by the terms and conditions of a loan agreement established by the Crowdfunding service provider. The acceptance to lend to the Borrowing Client shall be binding to the lending Client. The lending Client cannot unilaterally withdraw or cancel the confirmed acceptance, unless provided differently by imperative legal provisions or the loan agreement.

 

    • By confirming the acceptance to lend, the Client shall authorise the Crowdfunding service provider to book the positive balance on the lending Client’s Account in the extent of the loan amount indicated in the acceptance and the sum payable to the Crowdfunding service provider upon the execution of the transaction (i.e. the respective sum cannot be used for making other transactions or no requests can be made to have it transferred to the Client’s bank account). If the borrowing Client withdraws from the loan agreement, the Crowdfunding service provider shall automatically release the booked sum.

 

    • With the confirmation of the acceptance to lend, a loan agreement is concluded between the lending Client and the borrowing Client. Such agreement shall be considered as concluded from the moment when the lending Client accepts the offer. The loan agreement shall become effective with the confirmation of the acceptance to lend. The confirmation has to be confirmed with the digital signature or an equal means for identification and signing.

 

    • If loan agreements in at least the minimum total loan amount have been concluded with the borrowing Client, the Crowdfunding service provider shall settle the amounts booked on Client’s Account after the submission of acceptance as follows. The Crowdfunding service provider shall automatically debit the lending Client’s Account by the loan amount and credit the borrowing Client’s Account by the loan amount. The Crowdfunding service provider shall automatically debit both parties’ Accounts in the extent of the sum payable to the Crowdfunding service provider for the execution of this transaction.

 

    • The borrowing Client has the unilateral right to withdraw from the loan agreement. In such case the Crowdfunding service provider shall automatically refund the lending Client the funds debited from or booked on their Account.

 

  • General Rights and Obligations of the Client

 

    • In addition to other obligations set forth in the Terms of Service, a Client shall be obliged:

 

      • not to use the Crowdfunding platform for illegal transactions or activities, including fraud, money laundering, terrorist financing or other similar activities;

 

      • to use the Crowdfunding platform through web browsers intended for general purposes. It is forbidden to use, including but not limited to, robots, spiders, scrapers and other automatic data entry and processing devices;

 

      • to submit only truthful data and information upon registering the Client Account. The Client shall be liable for the damages caused by the violation of the obligation set forth in this article with respect to the Crowdfunding service provider and other Clients. The Crowdfunding service provider does not verify the correctness of the information submitted by the Clients and shall not take any responsibility for the correctness and truthfulness of the data submitted by the Clients;

 

      • to safeguard the data and devices necessary for logging in to the Client Account of the Crowdfunding platform, including the ID card, respective passwords and Client IDs and authentication devices in a manner that prevents third parties from gaining possession of them. However, if a third party enters the Crowdfunding platform through Client’s Account, any and all provisions arising from the Terms of Service shall apply;

 

      • to inform the Crowdfunding service provider immediately about the risk of unauthorised use of the Client Account that may occur;

 

      • to inform the Crowdfunding service provider as soon as possible of any changes in the data submitted upon opening the Client Account.

 

    • The Client agrees that all changes to the project that affect or relate to the loan repayment term (its modification, suspension, extension, etc.), debt collection, etc. may be adopted by the Lenders (Investors) Meeting (hereinafter - the Investors' Meeting).

 

    • An Investor meeting is a form of organized joint activity of investors for making investor decisions.

 

    • The investor meeting is chaired and organized by the Crowdfunding service provider.

 

    • The draft decision is prepared by the Crowdfunding service provider and published on the Crowdfunding platform. The Investors' meeting has the opportunity to choose and vote for one of several future action models.

 

    • The draft decision is visible only to lenders (Investors) who have invested in the project. The decision is taken by voting. The number of votes at the Investors' Meeting is determined according to the amount invested by the lender (investor) in the project, assigning one vote for each whole euro. The investors' meeting shall make a decision by a simple majority of votes. The decision shall be deemed adopted if 50% + 1 vote of all eligible Investor votes in favor.

 

    • The decision is binding on other lenders (investors).

 

    • In addition to other rights set forth in the Terms of Service, a registered Client shall have the right to:

 

      • enter the Crowdfunding platform by using logging in functionality, which is secured by the necessary measures determined at the Crowdfunding service provider’s discretion;

 

      • use the functionalities of the Crowdfunding platform if the Client complies with the requirements established for using the specific functionality;

 

      • review the Client data saved by the Crowdfunding service provider, amend such data and request the Crowdfunding service provider to cease processing;

 

      • with prior consent of the Crowdfunding service provider, authorise Client’s representative to use Client’s Client Account and register him/her as the authorised Client of the Client Account;

 

      • provide feedback regarding the services offered by the Crowdfunding platform and respond to the surveys, including the service quality assessments, carried out by the Crowdfunding service provider.

 

  • Processing of Client Data

 

    • For the purposes of these Terms of Service, personal data shall be any and all data and information on a Client who is a private person, which the Client has disclosed upon registering their Client Account, using the Crowdfunding platform and making declarations of intent via the Crowdfunding platform. The personal data that the Crowdfunding service provider has learned about such Client from third parties and stores or processes, is considered personal data.

 

    • By registering a Client Account and/or disclosing data, the Client shall confirm that they are aware of and consent to the fact that any and all legally collected data regarding the Client which are in the possession of the Crowdfunding service provider, regardless of their origin, shall be processed by the Crowdfunding service provider for the purposes related to the possibilities of use of the Crowdfunding platform and to the extent necessary for it.

 

    • A Client, who is a private person, has the right to withdraw their consent for processing personal data at any time. The person may request the cease of processing the personal data, terminate the access to the data and request deletion or closing the collected personal data. This is possible if the Client have no on-going process of concluding an agreement via the Crowdfunding platform and no valid agreement concluded via the Crowdfunding platform, and provided that the legal acts do not oblige the Crowdfunding service provider to save data. Upon withdrawing the consent to process personal data the Client’s Client Account shall be closed.

 

    • The Crowdfunding service provider shall be obliged to keep the Clients’ data confidential and follow any and all rules arising from the Personal Data Protection Act of the Republic of Estonia.

 

    • The Crowdfunding service provider shall have the right to disclose Client’s personal data to third parties (https://www.veriff.com for identity verification), including other Clients, only in cases set forth in the law and Terms of Service.

 

    • The Crowdfunding service provider shall have the right to disclose (personal) data of a Client to persons belonging to the same group as the Crowdfunding service provider and persons who provide the Crowdfunding service provider with legal assistance, accounting, auditing or any other services, which presume processing of Clients’ personal data, provided that the respective service provider has undertaken the obligation towards the Crowdfunding service provider not to disclose the respective personal data to third parties.

 

    • The Crowdfunding service provider shall have the right to use the e-mail address and mobile phone number of a Client for the purposes of forwarding to the Client information, advertising and offers from the Crowdfunding service provider or its cooperation partners. The Client shall have the right to choose, which notifications and offers they wish to receive through the Crowdfunding platform and refuse to receive offers from the Crowdfunding service provider and their cooperation partners, without their respective query through the Crowdfunding platform.

 

    • Crowdfunding service provider is entitled to request information from the Client in accordance with AML procedures at any time on its own initiative or in cases when required by law or required by the competent authority. The Client may be required to provide information, including, but not limited to, the Client's source of income, its amount or the origin of funds. The Client is obliged to submit this information to Crowdfunding service provider within 30 days from the date of the request. If the Client fails to provide the requested information, this may result in termination of cooperation with the Client or restriction of the services available to the Client on the Crowdfunding platform.

 

  • Intellectual Property

 

    • Any and all intellectual property rights to the Crowdfunding platform, including the structure, web design elements, texts and other components of the Crowdfunding platform, and the intellectual property rights related to them (including the intellectual property rights to trademarks, logos, brands, software, databases, news, messages, texts, graphic, musical and other design) belong to the Crowdfunding service provider, unless the rights of another person are referred to with regard to a component, or information has been entered by the Clients of the Crowdfunding platform. Clients shall not be allowed to change, reproduce, disseminate, process, translate, make extracts from, forward, include in other databases or make public the Crowdfunding platform or any of its contents or components or use it in any other manner that is beyond the intended purposes of the Crowdfunding platform without the prior written consent of the Crowdfunding service provider.

 

    • The Client shall not be allowed to grant sub-licences for using the Crowdfunding platform or any of its contents or components or create new objects of intellectual property based on them.

 

    • The Clients are allowed to publish only such material in the Crowdfunding platform for which they have intellectual property rights to the extent that is necessary for publishing the respective materials in the Crowdfunding platform. A Client shall be fully responsible for the materials published in the Crowdfunding platform by them.

 

    • With publishing of any material in the Crowdfunding platform by the Client, the Client shall give their unconditional and free consent to the Crowdfunding service provider to store, disseminate and publish such material in accordance with the Terms of Service and to change or process in any other manner to the extent that is necessary for the intended use of the Crowdfunding platform.

 

  • Liability

 

    • Although the Crowdfunding service provider shall take all measures to ensure correctness and reliability of information published in the Crowdfunding platform, the Crowdfunding service provider shall not be liable for publishing incorrect or misleading information in the Crowdfunding platform, or for a violation committed or being continuously committed through the Crowdfunding platform, or consequences thereof, of which the Crowdfunding service provider is not aware or for which it has taken measures for correcting the information, ending a violation or eliminating consequences thereof.

 

    • The Crowdfunding service provider shall not be liable for the correctness and completeness of information received from third parties if the Crowdfunding service provider forwards or discloses it in the Crowdfunding platform in the same format as it was forwarded or made available to the Crowdfunding service provider. If a Client discovers incorrectness of information contained in the Crowdfunding platform, they shall be obliged to inform the Crowdfunding service provider as soon as possible.

 

    • The Crowdfunding service provider shall not be liable to other Clients or third parties if a Client violates an obligation set forth in the Terms of Service, any other agreement concluded with the Crowdfunding service provider, legal act or agreement concluded between Clients.

 

    • The Crowdfunding service provider shall be liable for the obligations arising from a transaction concluded through the Crowdfunding platform only if the Crowdfunding service provider is a party to a specific transaction.

 

    • If a Client causes damages to the Crowdfunding service provider by violating any of the obligations, the Client shall be obliged to fully compensate the respective damages to the Crowdfunding service provider at first request.

 

    • The Crowdfunding service provider shall not be liable for the damages that were caused to a Client or third parties in relation to the fact that the Crowdfunding service provider used their legal remedies (e.g. removed information from the Crowdfunding platform or limited access to it, limited or restricted Client’s access to their Client Account or Crowdfunding platform).

 

    • The Crowdfunding service provider shall not be liable for temporary interruption in the access to the Crowdfunding platform or its functionality.

 

    • The Crowdfunding service provider shall be liable only for the direct patrimonial damages to the Client caused by violation of the obligations of the Crowdfunding service provider’s due to gross negligence or intent. Other damages or loss of profit shall not be subject to compensation. The Crowdfunding service provider shall not be liable if a service provider or any other third party used by the Crowdfunding service provider causes the violation of obligations.

 

  • Duration of Use of the Crowdfunding platform and Termination of Use

 

    • Client Accounts in the Crowdfunding platform are opened without term. If a Client have no valid agreements concluded via the Crowdfunding platform and they no longer wish to use the Crowdfunding platform, they can close the Client Account and terminate the agreement concluded with the Crowdfunding service provider without advance notice.

 

    • The Crowdfunding service provider shall have the right to limit or cancel a Client’s right to use the Crowdfunding platform and close a Client Account, as well as to terminate an agreement concluded with a Client at any time without advance notice if it appears that:

 

      • the Client violates or has violated the Terms of Service or any other Client obligations;

 

      • the Client does not accept new Terms of Service upon first logging in to the Crowdfunding platform after the new Terms of Service have been made available in the Crowdfunding platform;

 

      • the Client has submitted to the Crowdfunding service provider or other Clients data and/or information that is incorrect, misleading and/or inaccurate;

 

      • upon using the Crowdfunding platform the Client behaves in bad faith, without dignity, illegally or in contradiction with the moral standards recognised in the society;

 

      • the Crowdfunding service provider has discovered a circumstance based on which there may be a suspicion that third parties have gained possession of the data and devices allowing logging in to the Client’s Account and the Crowdfunding platform and the Client Account could be used by an unauthorized person.

 

    • The Crowdfunding service provider shall have the right to close the Crowdfunding platform.

 

    • Upon closing the Crowdfunding platform or if the Client can no longer use the Crowdfunding platform:

 

      • the transactions made through the Crowdfunding platform shall remain in force under the terms and conditions set forth therein and

 

      • the settlements arising from transactions made between the respective Client and other Clients shall thereafter take place through the bank accounts of the respective Client and other Clients on the basis of the payment orders given by such Clients. After the expiry of the right to use the Crowdfunding platform, the Crowdfunding service provider shall not be responsible for making or receiving payments on behalf of the Clients).; and

 

      • The Crowdfunding service provider shall pay the positive balance registered in Client Account (as of the moment of expiry of the right to use the Crowdfunding platform), deducting the sums payable to the Crowdfunding service provider, to the bank account of the Client within 10 (ten) working days from the expiry of the right to use the Crowdfunding platform.

 

  • Sending Notices

 

    • The notices sent to the Client’s mailbox (an e-mail address that the Client has provided to the Crowdfunding service provider) shall be considered as received within 24 hours of sending.

 

  • Other Conditions

 

    • Legislation of the Republic of Estonia shall be applicable to the use of the Crowdfunding platform in issues not regulated in the Terms of Service. If an article of the Terms of Service proves to be void due to contradicting the law, it shall not influence the validity of other articles.

 

    • Disagreements and disputes arising from the fulfilment of the Terms of Service shall be settled by the parties primarily through negotiations. The Crowdfunding service provider shall have the unilateral right to establish a procedure for extrajudicial settling of disputes.

 

    • If settling of disagreements through negotiations is impossible, the dispute shall be settled in Harju County Court.

 

If you have any questions or suggestions, please contact us via e-mail us: info@crowdestor.com