Investor Specific Conditions
Version February 2021.
1. Identification data.
1.1. CROWDHOUSE WORLDWIDE PFP, SL, (hereinafter “icrowdhouse”), entity domiciled at Av. Diagonal, 359, 2º - España, Barcelona (08037), CIF B66884974, registered in the Mercantile Registry of Barcelona in Volume 46.194, Folio 201, Sheet B-512.623, Registration 1, as well as in the Registry of Participatory Financing Platforms of the CNMV No. 22, owner of the website hosted under the domain name www.icrowdhouse.com (interchangeably, the "Website" or the "Web").
1.2. The User may contact icrowdhouse through the email email@example.com or at the postal address indicated above.
2. Object and scope of application.
2.1. The terms and conditions that are incorporated into this document (the “Particular Conditions”) regulate the terms and conditions according to which icrowdhouse will allow access to the Investor User Platform.
2.2. Likewise, the purpose of this document is the provision of Services by icrowdhouse through the Platform, as defined in Condition 3 and following of this document.
2.3. The access or use of the Services by the Investor User implies that they have read, understood and accepted these Particular Conditions and have opened a User Account.
2.4. In everything not established in these Particular Conditions, it will be governed by the provisions of the General Conditions that can be accessed by clicking here. Likewise, in the event of a contradiction between the General Conditions and the Particular Conditions, the provisions of the Particular Conditions in force at all times will be followed.
2.5. Acceptance of these Particular Conditions implies acceptance of the provisions of the General Conditions of icrowdhouse, as well as the Framework contract for payment and mandate services with MYTRIPLEA FINANCIACIÓN PFP, SL
3. The Platform and the Services.
3.1. icrowdhouse is a Participatory Financing Platform authorized by the National Securities Market Commission (CNMV) in accordance with Law 5/2015, of April 27, on the Promotion of Business Financing. It is registered under number 22 in the Register of Participatory Financing Platforms of the CNMV. icrowdhouse does not hold the status of an investment services company or a credit institution. Icrowdhouse's activity is supervised by the CNMV.
3.2. icrowdhouse has a technological platform (hereinafter, "icrowdhouse Technological Platform") that allows contacting, in a professional manner, a plurality of natural or legal persons who offer financing in exchange for a monetary return, called "Investor", with natural or legal persons who request financing in their own name to be used for a participatory financing project, called “Originator or Promoter”.
3.3. icrowdhouse has created a network of Collaborator Platforms where Originators make their projects available to investor users. These Collaborator Platforms are integrated into the icrowdhouse Technological Platform, having been developed by icrowdhouse. From now on, any reference made in these Terms and Conditions to the "Platform" will jointly encompass the "icrowdhouse Technology Platform" and the "Collaborator Platforms".
3.4. icrowdhouse allows participatory financing projects to be implemented through (i) the issuance or subscription of obligations, ordinary and privileged shares or other securities representing capital, when it does not require and does not lack the informative issue brochure to which they refer Article 33 of Royal Legislative Decree 4/2015, of October 23, which approves the revised text of the Securities Market Law (hereinafter, the "TRLMV"), in this case, "Promoter ”To the company that will issue the securities. When non-accredited investors participate in the financing as defined in Law 5/2015, of April 27, on the Promotion of Business Financing, the securities referred to in this section may not incorporate an implicit derivative; (ii) The issuance or subscription of shares in limited liability companies, in which case “Promoter” will be understood as the limited liability company that is going to issue the shares.
3.5. In general, icrowdhouse provides Originators / Promoters and Investors through the Platform with the following services:
- MAIN SERVICES: (i) Reception, selection and publication of participatory financing projects and (ii) Development, establishment and operation of communication channels to facilitate the contracting of financing between investors and Originators).
- AUXILIARY SERVICES: (i) Advice to Originators in relation to the publication of the project on the platform including the provision of services and advice in the areas of information technology, marketing, advertising and design, (ii) The analysis of the participatory financing projects received, the determination of the level of risk that each project implies for investors and the determination of any other variable that is useful for investors to make the investment decision. The publication, classification and grouping of such information in objective terms, without making personalized recommendations, will not constitute financial advice by icrowdhouse, (iii) The provision of remote communication channels for users, investors and Originators to contact each other directly before , during or after the actions that give rise to the financing of the project, (iv) The making available to the parties of the contract models necessary for participation in the projects, (v) The transmission to investors of the information that is provided by the Originator on the evolution of the project, as well as on the most relevant corporate events.
3.6. Specifically, the Services that icrowdhouse will provide to the Investor through the Web are:
- The Opening of a User Account.
- The Creation of an investor Profile for the User.
- The opening of the payment account of the investor profile.
- Access to participatory financing projects.
- Contact with promoters or originators seeking financing for their participatory financing projects.
As well as any other that is necessary for the interaction between Investors and Originators.
3.7. At the same time, icrowdhouse will provide other Services, including chat services, discussion forums, newsgroups, which will also be subject to these General Conditions and, where appropriate, to the Specific Conditions that apply to them.
4. Opening of the user account ("User Account").
4.1. By means of this contract, icrowdhouse will proceed to open and maintain indefinitely a user account (hereinafter, "User Account") of which the user will be the owner and whose exclusive use by the user is limited to access and in where appropriate, to the execution of Services on the Platform.
4.2. The opening of the User Account will begin when the User registers on the Platform and enters the verification codes received by email and by text message.
4.3. The opening of the User Account will be conditional on the receipt and verification by icrowdhouse of all the documentation or information that is requested from the user in the process.
4.4. The user assumes the veracity and legality of the information and documents provided in the forms provided on the Platform.
4.5. The moment icrowdhouse analyzes and verifies the information and documents provided and can identify and verify that the user is who he claims to be, the User Account on the Platform will be deemed to have been effectively created. Otherwise, the User will be notified so that they can correct the inconveniences found.
4.6. The User Account code created by virtue of this contract will be notified to the user through the Platform.
4.7. The creation of the User Account gives access to certain content and services on the Platform and makes the user a Registered User.
4.8. The User agrees to make proper use of the Contents and Services that icrowdhouse offers through the Platform.
5. Creation of the user's investor profile (“investor profile”).
5.1. At the request of the registered User, icrowdhouse will create for an indefinite time investor profiles associated with the User Account (hereinafter, “Investor or Investor Profile”).
5.2. In order to create an Investor Profile, the User must have their User Account validated.
5.3. The User through his User Account may associate (i) a particular investor profile (natural person), based on the User data provided for the creation of his User Account and / or (ii) one or more investor profiles company (legal persons) for which the User must have sufficient powers to represent them and sign on their behalf.
5.4. The code of each Investor Profile created under this contract will be notified to the User through the Platform.
5.5. Associating an Investor Profile with a User gives access to certain content and services on the Platform for which the User agrees to (i) keep secrecy and confidentiality about any information related to the Projects, the investments themselves or the terms proposed for the same until it becomes public domain and (ii) Comply with any commitment or obligation derived from its participation in a participatory financing project.
5.6. Specific requirements for the Company Investor Profile:
5.6.1. To associate a company investor profile it will be necessary for the User to previously complete the company registration process, for which they must provide all the information and documentation that is required through the Platform. The User assumes the veracity and legality of the information and documents provided in the forms provided on the Platform.
5.6.2. icrowdhouse will collect, analyze and verify the information and identification documents provided by the User about the company. At the moment that icrowdhouse analyzes and verifies the information and documents provided, the company will be considered validated on the Platform (that is, both on the icrowdhouse Platform and on the Collaborators' Platforms), which will facilitate the participation of Users in the different projects.
5.7. In the event that icrowdhouse does not consider the information and / or documentation provided sufficient, it will notify the User so that he or she can correct the inconveniences found.
5.8. Once all the documentation and information has been validated, the company investor profile can be associated with the User Account.
6. Investor Protection.
6.1. In accordance with Law 5/2015, of April 27, on the Promotion of Business Financing in its articles 81 and following, investors must identify themselves as accredited and not accredited, defining investment limits for each of them. The objective is to establish different protection measures for retail investors (not accredited), including the following investment limitations: (i) A maximum of 3.000 euros per transaction and (ii) A maximum of 10.000 euros in projects published in the set of Participatory Financing Platforms in a 12-month period. In relation to professional investors, large estates or those who receive financial advice, they can request treatment as an accredited investor and invest without financial limit through Participatory Financing Platforms.
6.2. Therefore, the User to associate an investor profile, individual or company, must select what type of investor wants to be accredited or not accredited.
6.3. To be an accredited investor, as a natural person (individual), you must meet at least one of the following requirements: 1) Proof of annual income of more than 50.000 euros, 2) Proof of financial assets of more than 100.000 euros, or 3) Receive financial advice from an investment services company licensed on this type of investment. If you meet one of these requirements, you must: (i) Pass the Suitability Test to evaluate your experience and knowledge, (ii) Read and accept the warning of risks and not subject to supervision and (iii) Request to be considered as an accredited investor, resigning expressly to your treatment as a non-accredited investor.
6.4. To be an accredited investor, as a legal entity (company), you must meet at least one of the following requirements: 1) Be considered as an accredited professional investor (concept and classes defined and explained in article 205 of Royal Legislative Decree 4/2015, of October 23), 2) Have hired a financial advisory service from an authorized investment services company on this type of investment, 3) Have expressly requested treatment as an accredited client, 4) Have at least two of these characteristics: 4.1) That the total of asset items is equal to or greater than 1 million euros, 4.2) that the amount of its annual turnover is equal to or greater than 2 million euros, 4.3) that its own resources are equal to or over 300.000 euros. If you meet one of these requirements, you must: (i) Pass the Suitability Test to evaluate your experience and knowledge, (ii) Read and accept the warning of risks and not subject to supervision and (iii) Request to be considered as an accredited investor, resigning expressly to your treatment as a non-accredited investor.
6.5. To be a non-accredited investor, as a legal person (company) or as a natural person (individual), the user must: Request to be considered as a non-accredited investor and commit to (i) Not invest more than 3.000 euros in the same project published in the platforms, (ii) Do not invest more than 10.000 euros in a period of twelve months, in projects published by the Platform.
6.6. icrowdhouse will carry out the appropriate evaluation of the user's experience and knowledge, and will ensure that they can make their own investment decisions and understand their risks at the moment when they will admit and validate the request made and will identify them as an accredited or non-accredited investor, considering created the Investor Profile. By virtue of the request and the type of investor profile (individual or company), icrowdhouse may request additional documentation from the user to verify that the data indicated during the selection of the type of investor are correct. In case of not providing it, icrowdhouse reserves the right to block the User Account on the Platform.
6.7. Accredited investors who do not provide financing to a project of the participatory financing platform within a period of twelve months, will lose the condition of accredited, although they may recover it when they meet the requirements established in the previous points. Likewise, they will lose the consideration of borrowers when they request it in writing.
7. Opening of the payment account of the investor profile (“Payment Account”).
7.1. In order to operate as an Investor, the User must subscribe the Framework contract for payment services and mandate with MYTRIPLEA FINANCIACIÓN PFP, SL, a payment entity authorized by the Ministry of Economy and Competitiveness, under the terms established in Law 16/2009, of November 13, on payment services (“LSP”) and Royal Decree 712 / 2010, of May 28, on the legal regime of payment services and payment entities. This entity operates under the PayArea brand (hereinafter, “PayArea”) and is registered in the Bank of Spain's Register of Payment Institutions with the coding number 6869.
7.2. PayArea will provide the payment services and the management of the collection to the Users (both Investors and Originators) of the Platform. The opening of the Payment Account will be made at the moment in which the user completes the registration and makes the provision of funds to the bank account indicated by PayArea, by transfer or payment by credit card, for the execution of payment operations .
7.3. A Payment Account will be created for each Investor Profile in the payment institution. The Payment Account is linked to the execution of payment operations, specifically: a) The issuance of transfers whose recipients will be the Originators and b) The payment of the amounts corresponding to the return of the investments made by the Investor User on the Platform.
7.4. The Payment Account will have associated, from its opening and at all times, a cash deposit account (bank account) opened by the User in a credit institution authorized in Spain or in a member country of the European Union, providing a supporting document of its ownership. This bank account will be referred to as the "associated bank account" and may be modified by the user providing the corresponding proof of ownership.
7.5. The Investor User may make the provision of funds in the Payment Account of the investor profile that he wishes by any of the following means: (i) transfer from his bank account associated with the PayArea bank account and / or (ii) charge in the debit or credit card, owned by the User, for the payment of the corresponding amount in the PayArea bank account. These funds will be credited to the payment account of the investor profile as soon as their payment is credited to the PayArea bank account. The funds credited to the User Account may only be used for the execution of payment operations to the Originators, without prejudice to the Investor requesting the provision of funds.
7.6. The Investor may make the provision of funds from the Payment Account by issuing a credit order in the bank account associated with his investor profile issued directly through the Platform to the PayArea platform. PayArea will make the payment requested by the user in their associated bank account by bank transfer.
8. Participatory financing project.
8.1. The Investor will have access through the different Platforms to the relevant information about the published projects and the Originators or legal entities (hereinafter "Originator"). The Project will contain, among other information, a description of it in a concise way and in non-technical language, which provides the information necessary to allow the user an informed judgment on the decision to finance the Project.
8.2. The Originators will be solely responsible to Investors for the information they provide to icrowdhouse for publication. The publication, classification and grouping of such information in objective terms, without making personalized recommendations, will not constitute financial advice by icrowdhouse.
8.3. icrowdhouse will automatically update the status of participation in the Project, as well as the percentage of the financing that has been assumed by investors who are considered accredited and by the Platform itself. Once the term established for the investment has ended, the Participatory Financing Platform will announce it in the space reserved for the corresponding project.
9. Operational for participation in a participatory financing project.
9.1. The Investor, once the information of the Project has been analyzed, may make the decision to participate in it, in which case they must select the investor profile (in the event of having several) with which they wish to participate and express acceptance of the conditions of the Project and the conditions of the subscription contract for participations in the Projects.
9.2. The Investor not accredited immediately before acquiring any payment commitment, will state that: (i) He has been warned of the risks involved in investing in the Participatory Financing Project or the Participatory Financing Projects in the event that the investor participates in several through a single action, and (ii) taking into account the operation it carries out, its total investment in the last twelve months in projects published by the group of participatory financing platforms does not exceed the threshold of 10.000 euros.
9.3. Any accredited Investor, before operating as such for the first time, will express that they have been warned that by being considered an accredited investor they are exposed to greater risks and enjoy less protection with respect to investing in a participatory financing project.
9.4. All investing User, prior to the investment, will receive and must accept a specific communication in which they are warned of the following circumstances: a) The Participatory Financing Project is not subject to authorization or supervision by the National Market Commission of Securities or the Bank of Spain and the information provided by the Originator has not been reviewed by them. b) In the case of issuance of securities, it is not subject to authorization or supervision by the National Securities Market Commission and the information provided by the issuer has not been reviewed by the National Securities Market Commission nor does it constitute a prospectus informative approved by the National Securities Market Commission. c) The existence of risk of total or partial loss of the invested capital, risk of not obtaining the expected monetary return and risk of illiquidity to recover your investment. d) The capital invested is not guaranteed by the investment guarantee fund or by the deposit guarantee fund. e) Any others determined by the National Securities Market Commission.
9.5. The contribution made by the User through their Investor Profile will follow one of the following steps: (i) Charge in their Payment Account, when there are no funds by: Credit or debit card or Bank transfer (which must be made effective in a maximum term of 48 hours by order of the investor user to his bank) or (ii) Payment through the accumulated balance in the payment account of the investor profile, when such funds exist.
9.6. The funds are transferred and stored in an account owned by the payment institution. The tools of the payment institution allow automating transactions in the Payment Accounts created for each of the Investor Profiles of the Users of the Platform where all your movements as an investor are reflected. The funds once transferred will be reflected on the Platform in the Payment Account of the Investor User.
9.7. When you choose to invest in a Project, the funds will be held in the Investor's payment account, it is in the event that the financing is completed that the funds will be transferred to the Originator's payment account, where they will be deposited until icrowdhouse give order to release / unblock the funds to the payment institution.
9.8. When a User decides to invest, he legally agrees to make the investment if the operation is closed successfully. The balance will be retained until the financing process is completed, if the Project closes successfully, the funds will be transferred to the Originator. There is no possibility of return or reimbursement of investments made to Users.
9.9. The User may have Funds in his Payment Account as a result of a provision of funds, the returns generated by his investment, if the Originator uses the payment entity for this purpose, or by the reversed withholdings that would have occurred if the capture it would not have been successful. In such cases, the User may request the transfer of the money to his personal bank account or use the funds from the Payment Account to invest directly in another Project.
9.10. If the selected Project does not obtain the planned financing within the specified period, the total investments made will be returned to their respective Users at no cost by reversing the retention, leaving the amount available again in their Payment Account.
9.11. In the event that the Project is successful, that is, 100% of the required financing is collected (or 90% if it has been previously established) and the other requirements are met, the Platform will communicate by telematic means, the success of the same to Investors to proceed with the formalization: (i) the Bank Certificates will be issued where the contributions to the capital stock are accredited, clearly stating the data and economic contribution of each Investor (partner) and (ii) the formalization of the corresponding public deeds before a notary public of the investment operations and the registration of said public documents in the Mercantile Registry, after tax liquidation, as well as any other contractually established registry, these procedures being necessary for the investment to be duly formalized. Once the formalization has been completed, the Originator will send a simple digitized copy of the formalized public deed and attached documentation to each of the Investors through the Platform.
9.12. icrowdhouse will order the payment entity to release the funds deposited in the Originator's Payment Account, sending icrowdhouse communication to the Users through the Platform, that the funds have been transferred and deposited, from the payment account of the Originator to the Originator's personal bank account.
9.13. Once the Funds are released, they remain at the disposal of the Originator who has the obligation to comply with the contractual provisions for the correct development of the project.
9.14. Once the financing of the Project has been obtained, the Originator undertakes to (i) behave in an ethical and responsible manner at all times, and to develop and carry out the Project in accordance with high standards of professionalism and commitment; and (ii) always act, and comply with the obligations and commitments acquired, in accordance with the legislation in force at all times and the strictest requirements of good faith.
9.15. The Originator, through the Platform, will process payments to Investors through bank accounts owned by PayArea, exclusively intended to provide the payment service and collection management for the Users of the Platform, who will receive the funds on behalf of users, in relation to the payment of amounts corresponding to the return on investment. Once the funds are credited to the PayArea bank account, it will immediately credit the payment accounts of the Users with the amount corresponding to the return on their investments.
9.16. The Originator in the information of his Project and his business plan will expose all the aspects related to the payment of dividends and return of the invested capital, as well as other terms and conditions of the relationship. icrowdhouse disclaims any responsibility in this regard.
10. User access to information on your User Account.
10.1. icrowdhouse will provide the user with all the legally required information in Spanish and / or English, unless it is mandatory by law to provide the information in another language
10.2. The Originator will have the duty to continue publishing through the Platform certain information on the progress of the Project, which may be accessed by Investor Users who have invested in that Project. Said information will include, as a minimum, the following: (i) On a QUARTERLY basis, and within the month following the end of each quarter: Financial statements for the quarter, in any case, the minimum information to be provided will include the following data: Balance, Profit and Loss Account, Executed Budget, Deviations, Income, Expenses and Treasury, (ii) Descriptive of the relevant events or events that have occurred throughout the current Period, (iii) Annually, and within the two months following its formulation by the Company's administrative body: Annual Accounts, (iv) Any other information or documentation on the evolution of the project that may be relevant to investors during the execution of the project and (v) The most important corporate events relevant. The Originator undertakes to maintain this Investor Information Policy described until the last of the Investor Users who have taken part in said financing has ceased to be a Partner of the Company. Additionally, the Originator will guarantee Investor users the possibility of attending the Ordinary and Extraordinary General Meetings of the Company electronically.
10.3. icrowdhouse will make available to the User through the Platform the updated information on the status of their User Account, their investor profiles, their payment accounts as well as all the information related to their participation in Projects and their evolution that is provided by the Originator.
11. Investment Risk Warnings.
11.1. The User declares to know that icrowdhouse does not grant any guarantee regarding the investments made on the Platform.
11.2. The profitability and value of each investment will depend on the success of the Project in which the User has invested. Therefore, if things do not go well, you may not obtain the profitability you expected and even, in the worst case scenario, you may lose all or part of the money you are going to invest. The investment is not guaranteed. This means that no one, neither icrowdhouse nor the Company's Originators nor any guarantee fund guarantees the Investor User the recovery of the investment or a minimum return.
11.3. Regardless of the exit mechanisms that may be established for each type of investment, the User is informed that shares in the capital of companies may be very illiquid, that is, it may not be easy to find a buyer for the shares of the companies in which you invest. The investment time horizon in companies published on icrowdhouse is generally medium and long term and requires patient and committed capital. icrowdhouse recommends not investing in the Projects for speculation or for the short term. On the other hand, icrowdhouse recommends that the User take into account the conditions and restrictions on the transferability of the shares established by the Law, the company statutes or the shareholders' agreement (such as the right of first refusal, carry-over rights and support , etc.).
11.4. Dividends are the income that a company can decide to pay to its partners or shareholders when there are benefits. Nothing guarantees that the company in which the User invests has or maintains distributable profits among its partners or shareholders or that, even having them, they decide to distribute them. Depending on the business model of the Project that is published on icrowdhouse it is unlikely that they will distribute startup dividends.
11.5. The investment implies that the User will have the right to a certain percentage of the capital of the company that will develop the Project. Their ability to influence the management of the company and their participation in the results of the company will be determined by said percentage, by the statutes and by the agreement of the company's partners. The User must bear in mind that its percentage could decrease in the event that the company increases its capital in the future.
11.6. icrowdhouse is a Participatory Financing Platform authorized by the National Securities Market Commission (CNMV), however, the Originators and / or Projects accessible through the Platform have not been examined by the CNMV or by the Bank of Spain. This means that all the information linked to them has not been reviewed by these bodies, nor does it constitute an informative brochure approved by the CNMV. The information offered through the Platform about the Projects has been provided by the Originators and is not necessarily audited. icrowdhouse cannot be held responsible for the veracity or accuracy of said information.
11.7. The Services offered by icrowdhouse do not constitute financial advice or investment services activities, nor should they be construed as recommendations by icrowdhouse to carry out investments. Each Investor User must form their own independent judgments and make their own decisions regarding their investment activity through the Platform. It is your sole responsibility to carry out any action with the aim of receiving advice of any nature that you consider relevant when making decisions regarding the execution of investments in companies through the Platform.
11.8. icrowdhouse is not an investment services company or a credit institution and is not affiliated with any investment or deposit guarantee fund.
11.9. All information that appears in the non-public sections of the Platform are the property of icrowdhouse, and the User does not have permission to retransmit, redistribute, publish, show or reveal, in part or in all, said information to third parties. The exception is the case in which there is a legal obligation to proceed with its disclosure or communication, in which case said information may be disclosed to the extent that it is legally required, and must, in any case, notify said communication to icrowdhouse with the utmost advance possible.
11.10. icrowdhouse will not be liable for any action or decision that the User carries out or adopts based on data or information provided by icrowdhouse on the Platform.
11.11. icrowdhouse will not be liable, in any case, for any loss that is materialized as a result of an investment, suggestion or advice, a failed operation or, in general, the acts or omissions of third parties, even if they have been presented by icrowdhouse.
12. Exclusion of guarantee and responsibility on the Platform.
12.1. icrowdhouse is not responsible, in any case, for damages of any nature that may cause, by way of example: errors or omissions in the content, lack of availability of the Platform or the transmission of viruses or malicious or harmful programs in the content.
12.2. icrowdhouse will do everything possible for the proper functioning of the Platform, however, it is not responsible or guarantees in any case that access to this Platform will not be uninterrupted or free of errors. Neither is it responsible or guarantees that the content or software that can be accessed through this Platform is free from error or causes damage to the User's computer system (software and hardware). In no case will icrowdhouse be responsible for losses, damages or damages of any kind arising from access, navigation and use of the Platform, including, but not limited to, those caused to computer systems or those caused by the introduction of virus.
12.3. icrowdhouse is not responsible for any damages that may be caused to Users by improper use of this Platform. In particular, it is not responsible in any way for falls, interruptions, lack or defect of telecommunications that may occur, despite having adopted all the necessary technological measures to avoid it.
12.4. The information provided on the Platform or through other means of communication does not constitute advice or endorsements of funding requests or the Originators. The information provided is not intended to be considered by the Investor as a recommendation or basis for deciding on their investments.
12.5. icrowdhouse cannot guarantee that a subscription of shares will finally be concluded between the Users and the Originator.
12.6. icrowdhouse does not guarantee the continuous and permanent availability of the Services on the Platform, thus being exonerated from any responsibility for possible damages caused as a result of force majeure or errors in the telematic data transfer networks, beyond its control, or due to disconnections made for improvement or maintenance work on the Platform's computer systems and equipment.
12.7. icrowdhouse is not responsible for possible errors or omissions in the information provided on the Platform by a third party, nor for possible damages that may arise from the use of the information by the user.
12.8. icrowdhouse will not be liable for the services, actions or equipment of third parties used by the User to access the Platform.
12.9. The User agrees to use the Platform only for lawful purposes and to respect the rights of any third party.
12.10. The User guarantees that he has taken the necessary and reasonable precautions to ensure that all the data that he enters on the Platform is free of viruses and does not produce a destructive effect on the Platform.
12.11. The information transmitted through the Platform will pass through public telecommunications networks. icrowdhouse is not responsible (within the limits established by law) for whether the communications sent through the Platform are intercepted by third parties, poorly delivered or not delivered.
12.12. The Platform may contain links to other websites that icrowdhouse does not control. icrowdhouse will not be responsible for any material supplied or content on another website.
12.13. All the exemptions, exclusions and indemnities established in this document will remain in force after the resolution of the relationship between the User and icrowdhouse, regardless of the reason for termination.
12.14. The lack or delay in the exercise of any right, power or resource by icrowdhouse. it will not constitute a waiver on your part, or will harm or prevent any future use of these or of any other right, power or remedy derived from these Conditions.
13. Resolution and modification of the contract.
13.1. The parties may terminate this contract at any time with a one-month written notice, in the case of termination at the request of the User, and two months at the request of icrowdhouse. Notification of the notice will be made by both parties through the Platform. However, the contract between icrowdhouse and the User may not be terminated while the User has active investments.
13.2. In case of resolution, icrowdhouse will proceed to complete the payment operations received, since the existing balance in the User's Payment Account is transferred to the User's "associated bank account". If the Investor has active investments, the User Account will remain open for consultation until the investment process is completed, at which time the account will be suspended, will be inoperative and no communication will be sent or the data will be used. The movements in the account will be stored for five years to comply with current regulations.
13.3. Either party may terminate this Agreement with immediate effect in the event of breach of any of the obligations of the other party in the terms provided by law.
13.4. icrowdhouse may modify these Conditions at any time. icrowdhouse will notify Users of said modification through the Platform, in which case the user may terminate this contract immediately and at no cost before the modifications come into force. The User will be considered to have accepted the modification if, after the aforementioned period, he has not notified icrowdhouse, through the Platform, of his refusal to accept the modification.
14. Commissions and expenses
14.1. icrowdhouse will not pass on to Registered Users any commission or expense for the provision of the Services in relation to the financing of participatory financing projects.
15. Notifications and complaints
15.1. User can refer to Customer Defense Regulation collected in the icrowdhouse technological platform (whose most updated version is available here! to raise complaints and claims provided that such complaints and claims refer to their legally recognized interests and rights, whether they derive from contracts, current regulations regarding transparency and protection of customers or good financial practices and uses.
16.1. The User may not assign or subrogate this contract without express and written authorization from icrowdhouse.
16.2. For its part, icrowdhouse reserves the right to assign or subrogate this contract in favor of a natural or legal person, without requiring authorization from the User, throughout the term thereof.
17.1. The Parties will not disclose or deliver to third parties, nor will they make use for purposes other than those strictly provided for in these Conditions, without the express consent of the other party, both during the term thereof, and after its term, whatever the cause of its termination, any information obtained by virtue of this agreement or in its previous and related negotiation, directly or indirectly, between both parties. In particular, any secret or confidential information that has to do with the commercial activities, clients, know-how, technology, information and communication systems (ICT), finances or organization of the other Party.
17.2. Both Parties will use the information received from the other party exclusively to fulfill the purposes of this Agreement.
18 Data Protection
19. Intellectual and industrial property rights
19.1. The User expressly recognizes the ownership and exclusive ownership of icrowdhouse over all intellectual and industrial property rights, or similar, that fall on the Platform designed by icrowdhouse for the provision of the Services, and any elements thereof, rights that are protected in the Spanish Law on Intellectual Property and in the corresponding international treaties.
19.2. icrowdhouse, as the exclusive owner and owner of the Platform, may freely dispose of it, being able to transmit, assign or license its property to any third party.
19.3. Access to the Platform by the User does not grant him any right in or over it, with the sole exception of the right to use it in accordance with these Conditions.
19.4. The User agrees not to copy, adapt, reproduce, distribute, reverse engineer, decompile, or disguise any facet of the Service that icrowdhouse owns. The User also accepts and agrees not to use robots, spiders, other automated devices, or manual processes to control or copy any content on the Service.
19.5. The User expressly acknowledges that the Platform, as well as any elements that make up it, such as its algorithms, protocols and interfaces and, especially, the documentation related to it that may be delivered, have the character of Confidential Information, Therefore, it may not be used for purposes other than those expressly contained in this document, nor communicated to third parties, all in accordance with these Conditions.
19.6. Likewise, the User acknowledges that the Platform could contain information qualifying as a commercial secret, belonging to icrowdhouse, being protected by the law of Unfair Competition, as well as by applicable international treaties.
20. Independent character
20.1. The Parties are recognized as independent contractors. Neither the terms of this document, nor those that complement it, may be interpreted as the basis for creating a legal relationship constituting an agency, partnership, community of shared risks, franchise, labor or any other of similar significance.
21. Applicable law and jurisdiction
21.1. These conditions will be governed by current regulations and applicable in the Spanish territory.
21.2. Should any controversy arise in relation to the interpretation and / or application of these Conditions, the parties will submit their conflicts to the ordinary jurisdiction by submitting to the judges and courts of Barcelona capital.