TERMS of use

This agreement, hereinafter referred to as “the Agreement”, is entered into and between LINCOLN TUNNEL Sp. Z o.o., UL. PUŁAWSKA 34, BUD 23, 05-500, PIASECZNO, POLAND, REGON 381364391,

and

any person either natural or legal, using the Platform and having a registered the account or Creator project on the Platform:

Definitions used in the Agreement:

  • the Company – LINCOLN TUNNEL Sp. Z o.o.;
  • the Platform – a website “iamcrowdfund.com” used to crowdfunding and operated by the Company;
  • a User – a physical person or a legal entity, duly registered in the Platform and having a unique User account;
  • the Creator – a User, attracting investments from other Users via the Platform in order to ensure financing and implementation of the Creator’s project;
  • a Backers – a User, providing funds to the Creator via the Platform in order to ensure financing and implementation of the Creator’s project;
  • a Payment Service Provider – a financial institution of the User used to send or receive funds or a financial or any other institution of the Company that the Company uses to receive, transfer or send funds from and to the User. Can be a bank, an electronic money institution or a similar entity;
  • Services – services, provided by the Company via the Platform to Users;
  • AML – Anti-money laundering;
  • KYC – Know Your Client.

 

  • 1 SCOPE OF THE AGREEMENT
    • 1.1 This Agreement sets out the terms and conditions for provision of Services on the Platform and the Services available to Users via the Platform.
    • 1.2 The Company provides the Creator with the following Services: opening and maintaining a User’s account, intermediary assistance with collecting investments from Backers for the projects listed on the Platform, processing transactions between Backers and the Creator on the Platform.
    • 1.3 By opening an Account on the Platform, the User agrees and confirms, that the User have read and understood this Agreement and agree to be bound by its provisions.

 

  • 2 GENERAL CONDITIONS
    • 2.1 By opening a User’s account the User represents and warrants, that the opening of this account does not violate any laws or regulations applicable to the User.
    • 2.2 The User must ensure that the information recorded in the User’s account, as provided by the User to the Company during the signup process or at any time thereafter, is always accurate, truthful and up-to-date and the User shall notify the Company promptly, but not later than within one month, of any changes to such information.
    • 2.3 As a part of AML and KYC obligations and internal procedures of the Company, the Company may ask the User at any time to confirm the accuracy of a corresponding information or to provide documents or other evidence in this regard.
    • 2.4 Funds reflected in the User’s account balance belong to the person or legal entity registered as the User’s account holder. No person other than such a User has any rights in relation to the funds held in them. The User may not assign or transfer the User’s account of the User to a third party or otherwise grant any third party a legal or equitable interest in it.
    • 2.5 The Company reserves the right to carry out any necessary money laundering, terrorism financing, fraud or other illegal activity checks before authorising any changes  the User’s funds. For these purposes, the Company may request to provide additional verification documents and information.
    • 2.6 The Company shall neither receive nor disburse any funds in cash. All transactions on the Platform shall be performed by wire transfer or other means, in which the identities of both the sending and receiving parties can be verified by the Company and which the Company, at its sole discretion, shall deem appropriate. The Company shall not accept deposits from any third party to the User’s account; the Company shall not withdraw any funds from the User’s account for any third party unless otherwise agreed in writing between the parties hereto.
    • 2.7 The User is entirely responsible for any and all activities conducted through the User’s account. The User agrees to notify the Company immediately of any unauthorised use of the User’s account, as well as of any other breach of security. While the Company may implement certain monitoring procedures designed to alert to fraudulent activity, the Company is not responsible for any unauthorised use of the User’s account.
    • 2.8 It is strictly forbidden to use the User’s account for any illegal purposes, including, but not limited to, fraud, money laundering, distribution of forbidden or restricted goods and providing of illegal or restricted services. The Company will report any suspicious activity to the appropriate law enforcement agency. You are prohibited from using Your Account in an attempt to abuse, exploit or circumvent the usage restrictions imposed.

 

  • 3 USER’S ACCOUNT, DEPOSIT AND WITHDRAWAL OF FUNDS
    • 3.1 User’s account is an electronic facility which enables the Creator to apply for accumulating of investments from other Users for the Creator or which enables Backers to provide funding to Creators.
    • 3.2 The User may only have one Account with the Platform.
    • 3.3 To register a User’s account the User has to provide documents and information needed to verify the User’s identity. This data verification, accomplished with respective documents, shall be used to meet the KYC and AML compliance requirements.
    • 3.4 Reports, statements, notices and any other communications will be transmitted to the User electronically by posting to the User’s account or via registered e-mail to the User’s registered e-mail address. All communications so posted or sent shall be deemed transmitted by the Company when posted or sent and deemed delivered duly to the User.
    • 3.5 The User may suspend the User’s account at any time by contacting User Support. When the Company receives a request to suspend the User’s account, the Company may ask to provide additional verification documents to compare with those already stored in databases. This is done for KYC/AML purposes.
    • 3.6 Fund deposits, transfers received, transfers sent and fund withdrawals are displayed in the User’s account. The User should report any irregularities or clarify any questions as soon as possible by contacting User Support.
    • 3.7 If the User’s Account holds a balance at the time it is suspended, the User needs to withdraw any funds before the Company processes the suspension. After the suspension is complete, the User may withdraw any remaining funds by contacting User Support.
    • 3.8 The User may deposit funds by visiting the Platform, logging into the User’s account and following the relevant deposit instructions on the Platform or User is required send an email with deposit transfer request or make a call to Company with deposit transfer request.
    • 3.9 Deposited funds will be credited to the User’s Account after the funds have been received by the Company.
    • 3.10 To transfer funds the User is required to authorize the transfer with the User’s login and password and following the relevant instructions on the Platform or User is required send an email with transfer request or make a call to Company with transfer request.
    • 3.11 The User is entitled to withdraw funds from the User’s account at any time. However, the User may be required to verify the User’s identity additionally beforehand.
    • 3.12 The Company does not guarantee the availability of any particular withdrawal method and may make changes to or discontinue a particular withdrawal method at any time as long as there is at least one withdrawal method available to the User. Where the withdrawal payment is received by the user through an external payment service provider, the Company shall not be responsible for the withdrawal payment once the withdrawn funds are received by this payment service provider.
    • 3.13 To withdraw funds the User is required to authorize the transfer with the login and password information or User is required send an email with transfer request or make a call to Company with transfer request.
    • 3.14 Depending on withdrawal method and chosen payment instrument, the User will need to provide information or to complete other activities that the Company may reasonably require to ensure proper authorization of the withdrawal.
    • 3.15 Withdrawals may be subject to limits due to security and legal requirements of the third party payment service provider.
    • 3.16 The User is entitled to request a banking investigation of the transfer in the following cases:
      • 3.16.1 If the funds sent via wire transfer do not appear at the User’s payment service provider within 10 business days, or
      • 3.16.2 If the funds sent via payment service provider are not deposited to the User’s account within 10 business days, or
    • 3.17 A banking investigation will be paid by the User, except for cases of mistakes in withdrawals made by employees of the Company.
    • 3.18 Withdrawals may be subject to a third party payment service provider’s withdrawal fees and currency conversion fees depending on which withdrawal method and payment instrument is chosen. Such fees are deducted from the User’s withdrawal amount.
    • 3.19 The User must ensure that the payment information provided when transferring or withdrawing funds is correct and complete. The Company will not be liable for any damages or losses done due to incorrectness of the aforesaid information.
    • 3.20 The Company reserves the right to carry out any necessary money laundering, terrorism financing, fraud or other illegal activity checks before authorizing any withdrawal of the User’s funds. For these purposes the Company may request the User to provide additional verification documents under the terms defined by the Company.

 

  • 4 FUNDING PROJECTS
    • 4.1 To receive funding for a project the Creator must provide the following:
      • 4.1.1 A project page with a description that clearly explains the nature of the project;
      • 4.1.2 Sought funding of the project;
      • 4.1.3 Rewards that Backers will receive when the project is completed;
      • 4.1.4 Updates on the project.
    • 4.2 The Company prohibits projects that are illegal, heavily regulated, or potentially dangerous for backers, including, but limited to:
      • 4.2.1 Any item claiming to diagnose, cure, treat, or prevent an illness or condition (whether via a device, application, book, nutritional supplement, or other means);
      • 4.2.2 Contests, coupons, gambling, and raffles;
      • 4.2.3 Energy food and drinks;
      • 4.2.4 Offensive material (e.g., hate speech, encouraging violence against others, etc);
      • 4.2.5 Offering a genetically modified organism as a reward;
      • 4.2.6 Live animals. Projects cannot include live animals as a reward;
      • 4.2.7 Offering alcohol as a reward;
      • 4.2.8 Political fundraising;
      • 4.2.9 Pornographic material;
      • 4.2.10 Projects that promote discrimination, bigotry, or intolerance towards marginalized groups;
      • 4.2.11 Drugs, nicotine, tobacco, vaporizers and related paraphernalia;
      • 4.2.12 Weapons, replicas of weapons, and weapon accessories.
    • 4.3 Backers will be charged and the Creator can receive the funds both in parts and the full amount set as necessary for the project. Creator and Company may agree to change the required amount and fundraising goal.
    • 4.4 Once the project reaches its fundraising goal and deadline, and once the funds are collected from Backers and transferred to the Creator, the Creator is obliged to start implementing of the project in strict accordance with specifications set forth on the Platform.
    • 4.5 If a Creator is unable to complete the project and fulfil rewards, the Creator will be considered a Party in default. In this case the Company is entitled to terminate the User’s account of the Creator and not to register this Creator in the Platform any more.   The Creator must make every reasonable effort to find another way of bringing the project to the best possible conclusion for Backers, which, among other, includes:
      • 4.5.1 posting of an update that explains what work has been done, how funds were used, and what prevents the Creator from finishing the project as planned;
      • 4.5.2 information on the Creator’s work in good faith to bring the project to the best possible conclusion in a timeframe that’s communicated to Backers;
      • 4.5.3 demonstration of a proper use of received funds;
      • 4.5.4 offer to return any remaining funds to Backers who have not received their reward (in proportion to the amounts pledged), or an explanation how these funds will be used to complete the project in some alternate form.
    • 4.6 The Creator is solely responsible for fulfilling the promises made in the project. If the Creator is unable to fulfill obligations to the Backers, the Creator may be subject to legal action by the Backers.
    • 4.7 If a project has accumulate target investment sum within the timeframe set, and the Creator is willing to continue collecting investments up to maximum investment sum, the Company will change the deadline to the new one, in accordance with terms agreed with the Creator.
    • 4.8 For funded project the Creator will pay a fee in amount of 5% of received funds to the Company. The mentioned fee will be payable from any Backed funding amount for the Creator Project.

 

  • 5 INVESTING
    • 5.1 Each project that is placed on the Platform for the purpose of collecting funds from private investors has successfully undergone the due diligence procedures by the Company.
    • 5.2 A Backer can independently choose a project to invest to, as well as the amount of funds to invest.
    • 5.3 Each project has:
      • 5.3.1 a target investment sum – the most desirable sum that the Creator is willing to collect;
      • 5.3.2 a maximum investment sum – the sum after collecting of which the project is automatically closed and no longer accepts investments;
    • 5.4 If the project fails to accumulate the target sum within the set timeframe the invested funds will not be credited from the Backers;
    • 5.5 A Backer can make invest in many project, make complex-invest.

 

  • 6 RIGHTS AND OBLIGATIONS OF THE COMPANY
    • 6.1 The Company is entitled:
      • 6.1.1 To reject, cancel, delete or adjust any project that may be placed on the Platform;
      • 6.1.2 To suspend the User’s account;
      • 6.1.3 To restrict access to, impose limits on, suspend, stop or cancel use of the Platform either generally or for particular funds, transactions or Users, or to discontinue transmission of any or all information;
      • 6.1.4 The Company may refuse to facilitate or proceed with any transactions or refuse access to the Platform at the Company’s sole discretion, as a result of any of the following:
        • 6.1.4.1 Full or partial failure of the Platform, including failure of technology or any of the communications linked to the Platform and the User and/or any of the Counterparties, or any other circumstance in which it is deemed impractical to use the Platform;
        • 6.1.4.2 A breach of the Platform security;
        • 6.1.4.3 Non-fulfillment by the User of obligations under this Agreement;
        • 6.1.4.4 Failure to comply with any applicable laws by the User;
      • 6.2 For the purpose of mitigating and managing potential AML risks faced by the Company and without detracting from the generality of the Company rights as expressly stipulated above, the Company reserves the right, at its sole discretion, to suspend any User’s account and prohibit any activity including, but not limited to, withdrawals for the term of internal investigation but not more than 180 days, providing that the Company has reasonable suspicion that User’s activity (i) does not comply with the Services provided by the Company and the subject of this Agreement, and/or (ii) is fraudulent, and/or (iii) is in breach of the law, the present Agreement or the Company’s Anti-Fiat Currency Laundering and Counter-Terrorism Policies.
      • 6.3 In case of any dispute the Company reserves the right to apply to third parties for advice and/or investigation, expertise or analysis, including, without limitation, on a fee paid basis and the Company shall retain the right to forward such costs to the User pursuant to the provisions of this Agreement.
      • 6.4 The Company is obliged to ensure due functioning of the Platform in order to make possible funding of the projects.

 

  • 7 LIMITATION OF LIABILITY AND INDEMNIFICATION
    • 7.1 The User will be liable for any damages done to the Company due to non-fulfillment or undue fulfillment of this Agreement, due to false or incorrect information provided to the Company, or due to illegal actions when using the Platform
    • 7.2 The Company in no event shall be liable to Users, or any other third party for any direct, special, indirect, incidental, consequential, exemplary, or punitive damages, including, without limitation, damages for loss of profits, loss of business, loss of opportunity, loss of reputation, loss of information, business interruption, revenue, or goodwill, which may arise from the User’s use of the Platform or any materials contained on the Platform, except the cases, when the aforesaid damage is done due a negligence or default of the Company.
    • 7.3 Without prejudice to any other terms of this Agreement relating to the limitation of liability and provision of indemnities, the following shall apply in particular to provision of Services under this Agreement:
      • 7.3.1 System errors: The Company shall bear no liability to the User for any partial performance or failure to perform its obligations hereunder by reason of any cause beyond its reasonable control, for damages which the User may suffer as a result of malfunction or failure of transmission, communication or computer facilities, or any transmission errors, technical faults, malfunctions, illegal intervention in network equipment, network overloads, malicious suspension of access by third parties, Internet malfunctions, interruptions, failure by intermediate service provider or agent, agent or principal of its custodian, sub-custodian or dealer for any reason to perform their obligations or other deficiencies on the part of any Internet Services provided by the Company. The User acknowledges that any Services may be limited or unavailable due to such system errors, and that the Company reserves the right to suspend access to any such Services for this reason upon notice.
      • 7.3.2 Delays: Neither the Company nor any of its affiliates and/or third party providers and/or suppliers accept any liability in respect of any delays, inaccuracies, errors or omissions in any data provided to the User in connection with the User’s account, the Platform or use of related Services.
      • 7.3.3 Viruses: The Company shall have no liability to the User (whether in contract or in tort, including negligence) in the event of any viruses, worms, software bombs or similar malicious code items introduced into the User`s information system via the Account and/or Service provided by the Company, provided that the Company has taken reasonable steps to prevent any such incident.
      • 7.3.4 Unauthorised use: The Company shall not be liable for any loss, liability or cost whatsoever arising from any unauthorised use of the User’s account, Platform or related Services.
    • 7.4 The Company shall not be liable for any disruption or impairment of the Platform or the Service or for disruptions or impairments of intermediary services on which the Company relies for the performance of the Company’s obligations hereunder, provided that such disruption or impairment is due to abnormal or unforeseeable circumstances beyond the Company’s reasonable control or the control of the intermediary involved.
    • 7.5 The Company shall not be liable to the User for any claims, losses, damages, costs or expenses, lost opportunity to trade, including attorneys’ fees, caused, directly or indirectly, by civil unrest, war, insurrection, international intervention, governmental action (including, without limitation, exchange controls, forfeitures, nationalisations or devaluations), natural disasters, acts of God, market conditions, inability to communicate with any relevant person or any delay, disruption, failure or malfunction of any transmission or communication system or computer facility, whether belonging to the Company, the User, any market, or any settlement or clearing system.
    • 7.6 The Company shall not be liable for assessment or payment of any taxes, duties or other charges that arise from the underlying transaction of Users.
    • 7.7 The Company specifically excludes liability for any loss, harm, distress or damage suffered by a User or any third party as a result of inaccurate information appearing on the Platform.
    • 7.8 The User agrees to defend, indemnify and hold harmless the Company, its affiliates, employees, agents, successors, subsidiaries, assignees and each of their respective officers, directors, shareholders, members, partners, attorneys, employees, from and against any and all liabilities, losses, damages, costs and expenses, including attorney’s fees, incurred by the Company, for all damages directly, indirectly, and/or consequentially resulting or allegedly resulting from or arising out of the User’s failure to fully and in a timely manner perform the User’s obligations hereunder or use, misuse, or inability to use the Platform, Services, or any of the materials contained therein, or the User’s breach of this Agreement or should any of the representations and warranties fail to be true and correct.

 

  • 8 APPLICABLE LAW AND RESOLUTIONS OF DISPUTES
    • 8.1 This Agreement and operation of the Platform will be governed by the Law of the Republic of Poland.
    • 8.2 The Parties will strive to resolve any dispute, arising from this Agreement, in amicable way. If the Parties fail to resolve the dispute amicably in 30 (thirty) days, any of the Parties will be entitled to file a claim into a court of the Republic of Poland.

 

  • 9 PERSONAL DATA PROCESSING
    • 9.1 The following personal data of Users – natural persons will be processed by the Company:
      • 9.1.1 Family name and given name;
      • 9.1.2 e-mail address;
      • 9.1.3 telephone number;
      • 9.1.4 Passport, national ID or a driver’s license;
      • 9.1.5 utility bill or a mobile phone bill;
      • 9.1.6 address.
    • 9.2 The aforesaid data will be processed for the purposes of fulfilling this Agreement.
    • 9.3 The aforesaid data will be transferred to the Creator in case of a full funding of a project in order to ensure obtaining of rewards by Backers.
    • 9.4 The Creator obtaining the personal data as mentioned above is obliged to keep the mentioned data safe and process it in strict accordance to the applicable law.

 

  • 10 TERM OF THE AGREEMENT
    • 10.1 This Agreement enters into effect upon registration of the User’s account and will stay in affect till terminated by either Party with a 5 (five) days notice in advance.
    • 10.2 Termination of this Agreement does not impair relations regarding projects, started before such a termination.

 

  • 11 OTHER PROVISIONS
    • 11.1 This Agreement is made in English and will be considered accepted by the User and binding to the User upon registration on the Platform, creating of the User’s account and creating new Creator Project or signing a paper version of this contract.

 

EnglishPolish