What are the procedures and payment systems between investors and promoters?
Table of Contents
- CREATION OF THE PROMOTER ACCOUNT-WALLET (WALLET):
- INVESTOR IDENTIFICATION:
- CREATION OF THE INVESTOR'S WALLET ACCOUNT (WALLET):
- ACCEPTANCE OF THE PROJECT:
- STEPS OF THE INVESTOR'S CONTRIBUTION:
- CAMPAIGN STATUS INFORMATION:
- COMMUNICATION OF THE SUCCESS OF THE CAMPAIGN:
- CERTIFICATE REFERRAL:
- RELEASE ORDER (Wallet Promoter)
- RELEASE, TRANSFER AND NEW FUNDS LOCK. (Wallet promoter and Physical account promoter)
- FORMALIZATION OF INVESTMENT OPERATIONS:
- RELEASE OF BLOCKED FUNDS. (Physical Account Promoter)
- HOME OPERATIONS
- PAYMENT OF CAPITALS AND COMMISSIONS.
1º CREATION OF THE PROMOTER ACCOUNT-WALLET (WALLET):
Creation, by ICrowdHouse, and prior acceptance of the promoter of a space or account-wallet (wallet) in his name, in the payment entity, destined to the management of the funds invested, so that, once finalized The Project with success and prior order of release of the funds, the promoter can dispose of them.
2º INVESTOR IDENTIFICATION:
During the account creation procedure, ICrowdHouse, based on the statements made by the investor in the corresponding section of the website, will identify you as accredited or not accredited, in accordance with the requirements of Article 81 and following of Law 5 / 2015
3º CREATION OF THE INVESTOR'S WALLET (WALLET):
Once the investor is classified as accredited or non-accredited, the creation, by ICrowdHouse and prior acceptance of the investor, of a space or wallet-account (wallet) in his name, in the payment entity, destined to the management of payment orders and reimbursement orders of the promoter of the remuneration of the invested capital.
To create a PORTFOLIO ACCOUNT (WALLET) for natural persons, you need: First and Last Name, E-mail address, Wallet ID, Date of birth, Nationality, Address, IBAN and Image of ID
To create a PORTFOLIO ACCOUNT (WALLET) for legal persons, the following is required: Company name, Name and Surname of the Administrator, The email address of the company, wallet ID, ID or passport of the company administrator, Proof of address of the company administrator (less than 3 months), IBAN of the company, Copy of the Mercantile Registry and Deed with details of the shareholders and DNI if there is any shareholder that has more than 25%.
4º ACCEPTANCE OF THE PROJECT:
Acceptance by the investor of the conditions of the business project and the conditions of the participation subscription contract.
5º STEPS OF THE INVESTOR'S CONTRIBUTION:
The contribution made by the investor will follow the following steps:
a) Payment by:
- Balance accumulated in the wallet of the investor in ICrowdHouse, when such funds exist.
b) Charge in your wallet-account, when there are no funds through:
- Credit or debit card.
- Bank transfer (to be made effective within a maximum period of 48 hours by order of the investor to your bank).
The funds are transferred and stored by Banco Sabadell in an account whose owner is the payment entity. The payment institution's tools allow you to automate transactions in the wallets created for each of the users of the platform where all your movements as an investor are reflected. The funds once transferred will be reflected in the investor's wallet-account (wallet).
c) When it is decided to invest in a project, the funds will be retained in the investor's wallet-account (wallet), in case the financing is completed when the transfer of the funds will be made to the wallet-account (wallet) of the promoter, where they will be deposited until ICrowdHouse gives order of release / unblocking of the funds to the payment entity.
d) The Investor may dispose of Funds in his wallet as a result of a provision of funds, of the returns generated by his investment (if the promoter uses the payment entity for this purpose) or for the retentions withheld that would have occurred if the collection I would not have succeeded. In such cases, the Investor can request the transfer of money to his personal bank account or use the wallet funds to invest directly in another project.
6º INFORMATION ON THE STATE OF THE CAMPAIGN:
During the campaign, and with a weekly periodicity, ICrowdHouse will send to the investors telematically, a notification in which it will count the amount collected so far and the state of their investment, notwithstanding that said information is published on the website in the section specific to each project.
7º COMMUNICATION OF THE SUCCESS OF THE CAMPAIGN:
In the event that the campaign is successful, that is, 100% of the required funding is collected (or 90% if it has been previously established) and the other requirements are met, ICrowdHouse will communicate its success to the telematic means to Investors to proceed with the formalization.
8º CERTIFICATE REFERRAL:
Certificate issued by the payment entity that has been reached, 100% of the financing and that these funds are deposited in the wallet-account of the promoter, if blocked, will be attached.
9º LIBERATION ORDER (Wallet Promoter)
The release order will be transmitted upon fulfillment of the financing requirements and, where appropriate, the other contractually established requirements. The other contractually established requirements must be understood as the requirements previously accepted by the investor in relation to the veracity of the information provided by the Promoter, and will be of continuous compliance until the moment of the order to release the funds.
10º LIBERATION, TRANSFER AND NEW FUNDS LOCK. (Wallet promoter and Physical account promoter)
ICrowdHouse will order the payment institution to release the funds deposited in the promoter's wallet-account, sending ICrowdHouse notice that the funds have been transferred and deposited, from the promoter's wallet-account to the account of the promoter's personal bank. The Funds will be blocked again without the ability to dispose of the promoter's personal account until the points / requirements described below are met.
11º FORMALIZATION OF INVESTMENT OPERATIONS:
Next, the investment operations will be formalized. The Bank Certificates will then be issued where the contributions to the capital stock are credited, clearly indicating the data and financial contribution of each partner. In the approximate period of one week, the corresponding public deeds will be formalized before a notary of the investment operations, and the registration of said public documents in the Mercantile Registry, prior tax liquidation as well as any other contractually established registry, in a Approximate period of fifteen days, these procedures being necessary for the investment to be duly formalized.
Such formalization will be carried out by a representative of the platform under a private and express mandate conferred by investors.
Once the formalization is completed, ICrowdHouse will send a simple digitalized copy of the formalized public deed and attached documentation to each of the investors.
12º RELEASE OF BLOCKED FUNDS. (Physical Account Promoter)
Once the formalization is verified, the Promoter (together with ICrowdHouse) will present in his bank the Deed of Capital Increase registered in the Mercantile Registry so that the funds can be released, sending ICrowdHouse notice that the funds have been released.
13º START OPERATIONS
Released the Funds are available to the Promoter who has the obligation to comply with those established contractually for the correct development of the project.
14º PAYMENT OF CAPITALS AND COMMISSIONS.
At this time, and only for the case of success, the payment of the commissions of ICrowdHouse will take place through the wallet account of ICrowdHouse who will be responsible for paying the service of the payment gateway.