"BALKANIKA FINANCE" S.R.L. is a limited liability company organized and operating in accordance with the legislation of the Republic of Moldova, the registered office of the company is located at the address: Republic of Moldova, Chisinau municipality, 9/1 Kiev Street, registered in the State Register of Legal Entities under the state identification number: 1023600051022 as of 31.10.2023, for providing services (also called activity) on the participatory financing platform: https://balkanika.finance/ (hereinafter - the Platform), after obtaining the authorization of the activity from the supervisory authority (National Commission for Financial Markets).

The activity of "BALKANIKA FINANCE" S.R.L. as a provider of participatory financing services through the Platform is governed by these Rules (hereinafter - Rules, Rules of the Platform, Rules of the Platform, Rules of the Platform's use), the Law of the Republic of Moldova No 181/2023 on participatory financing services (hereinafter - the Law), as well as the subordinated normative acts, including those of the supervisory authority.

The management bodies of "BALKANIKA FINANCE" S.R.L. according to the articles of association are:

• The General Assembly (Decision of the associates) as the supreme deliberative and decision-making body,
• The administrator, as the executive and executive body
• The Censor, as a control body.

After the authorization of the activity by the supervisory authority, the activity shall be carried out, including by replacing the functions and departments of the organizational structure of "BALKANIKA FINANCE" Ltd. in compliance with the conditions provided for by the normative acts in force.  

All internal normative acts approved by order of the administrator "BALKANIKA FINANCE" Ltd. and posted on the website are an integral part of these Rules, shall be interpreted and applied as part of these Rules.

The following Annexes form part of these Rules:

• Annex no. 1 - Internal control system (corporate governance and internal control mechanisms, including risk management procedures);
• Annex 2 - Information Security Procedures (procedures for the control and protection of data processing systems);
• Annex no. 3 - Business continuity plan "BALKANIKA FINANCE" S.R.L.;
• Annex no. 4 - Procedures for the assessment of the information contained in the key information sheet on the investment and its validation by "BALKANIKA FINANCE" S.R.L.
• (checking completeness, correctness and clarity of information);
• Annex 5 - Procedures for receiving and examining complaints from customers.
•  Annex no. 6 - Procedure for the selection and publication of projects / participatory funding offers on the platform.
• Annex no. 7 - The procedures and payment systems in place whereby investors will
  receive remuneration for the capital invested through the Platform.

These Rules are intended to ensure compliance with the law, describe the systems, resources and procedures used to control and protect data processing systems; ensure proper management of personal data and information received from clients/potential clients, including the use of cloud technologies, as well as fraud prevention and privacy/data protection, also archiving of documentation; establish measures and procedures that, in the event of a service provider failure, ensure continuity of critical service provision related to existing investments and proper management of contracts between the potential provider and its clients: Describe approved procedures to verify the completeness, accuracy and clarity of the information contained in the critical investment information sheet; Describe procedures with respect to investment limits for non-sophisticated investors; Describe procedures in place for receiving and reviewing complaints from clients.

In accordance with the provisions of Law no. 181/2023 on participatory financing services - non-sophisticated investors may invest, within one year, a maximum of the equivalent in MDL of 200 euro for a single borrower-consumer or 5 000 euro in a single participatory financing project. Non-sophisticated investors may invest, in the course of one year, a maximum of the equivalent in MDL of EUR 10 000 for the total investments in participatory finance, of which a maximum of 35% may be directed into consumer loans. In order to comply with the established legal limits, the non-sophisticated investor is required to confirm, when making the investment, that it has complied with the ceiling requirements in question over the previous 12 months.

The amount of funds that may be granted to a consumer may not exceed the amount that constitutes the equivalent in Moldovan Leu of 7500 euro (the maximum ceiling), calculated at the official exchange rate of the Moldovan Leu established by the National Bank of Moldova on the date of placement of the participatory financing offer.
The conduct of the same consumer's equity crowdfunding offer (by one or more equity crowdfunding platforms) is allowed only within the maximum ceiling. The Rules for the use of the Participatory Finance Platform set out the general regulations for the activities related to investing and attracting investments through the BALKANIKA Participatory Finance Platform (hereinafter - the Platform, BALKANIKA), including the general procedure for the emergence, modification, termination and use of the rights and obligations of the persons using the Platform.

There are no functions within the delivery of participatory finance services that are to be or could be outsourced.

Pursuant to the regulatory legal provision, the associates of "BALKANIKA FINANCE" S.R.L. holding at least 20% of the share capital or voting rights, as well as persons holding positions of responsibility in the company or any person affiliated with them, are prohibited from entering into equity financing transactions offered on the Platform.  BALKANIKA FINANCE S.R.L. shall take all measures to prevent, identify and disclose conflicts of interest between the Company, its associates, persons holding positions of responsibility and any natural or legal person linked to them by a controlling relationship within the meaning of Article 6 of Law no. 171/2012 on the Capital Market and its clients or between a client and another client.
In any case, in order to prevent conflicts of interest, BALKANIKA FINANCE S.R.L. does not admit any of the following situations:
(a) to directly or indirectly hold a stake in the equity financing offers placed on its own platform;
b) to place equity financing offers of developers who own at least 20% of the company's share capital, of persons holding positions of responsibility or of any natural or legal persons linked to them by a controlling relationship within the meaning of Article 6 of Law No. 171/2012 on the capital market;
c) carry out activities that may give rise to a conflict of interest or improperly use or disclose confidential information.
Information on the general nature and sources of conflicts of interest and the measures taken to mitigate these risks shall be provided to clients and potential clients by prominently displayed on the platform in a manner that enables each client to make an informed decision about the service in the context of which the conflict of interest arises.
Other aspects of the Platform's activities that are not covered by these Rules are regulated by law and subordinate acts, including acts issued by the Supervisory Authority.

The rules of the platform are a framework contract by which the parties agree to establish a contractual relationship, the terms of which will be specified in subsequent contracts concluded on the basis of the framework contract, the terms of which are accepted by the other party only by adhering to the proposed contract as a whole. These rules are binding on all persons using the platform.
Information on the types of crowdfunding services that will be provided:  

• loan-based participatory finance services;
• investment-based participatory finance services;
• (optional) loan portfolio management.

Other activities that Balkanika uses when providing participatory finance services:

• the use of vehicles for the specific purpose of providing participatory finance services;
• applying creditworthiness assessment to participatory finance projects;
• suggesting the price and/or interest rate for equity offers;
• the use of a notice board.

On the Platform are published credit-based offers, investment-based projects, especially in the real estate sector, investments for real estate development, with real estate investors in particular. The selection of projects/offers to receive equity financing shall be carried out in accordance with the nature and risks of the equity financing services, in accordance with the information contained in the key information sheet on the investment, as well as in accordance with the provisions of the equity financing contracts, rules, instructions and policies approved and brought to the attention of the bidders.

Bids evaluated and selected according to the approved and published procedures and criteria, which will describe the interests of investors and project developers, are published on the Platform. As regards consumers, the approved Rules for the assessment of the creditworthiness of the project developer, which are published on the Platform, shall apply.

The Platform's website can be found on the Internet at: https://balkanika.finance/. All rights to the Platform belong to "BALKANIKA FINANCE" S.R.L. (hereinafter referred to as the Platform Operator).

Subsequent amendments to the Rules of the Platform shall be deemed to be tacit and unequivocal acceptance by the Participant if the Participant continues to use the Platform after such amendments. Continued use of the Platform shall be deemed to mean access in any form whatsoever to the Platform website.

The platform operator provides technical support for customers or potential customers of the platform between 09-00 and 16-00 (summer time UTC+3, winter time UTC+2), at the contact e-mail address[email protected] . .

Before registering on the Platform, any person is obliged to read these Rules carefully. By his initial registration on the Platform, a person confirms that he has read and agreed to these Rules and that he is willing to abide by the Rules of the Platform.

The content of the terms and conditions of use of the platform is set out in the contract of participatory financing services to which the clients of the platform adhere, as provided for in Article 8 para. (1) of Law no. 181/2023 and in the Decision of the National Commission for the Financial Market no. 36/1 of 30.07.2024 on the approval of the Regulation on the framework for the management of the activity of providers of participatory financing services.

1. In the "Terms and Conditions" section placed on the Platform, there may be additional rules or exceptions regarding the closure of Clients' accounts on the Platform, which, after being communicated clearly and accessible to all Clients, must be accepted by them in order to be entitled to continue operations on the Platform (use of the Platform).

2. Customer requirements and liability for misrepresentation

Investment promotion services may be provided only to persons over 18 years of age, legal entities and self-employed persons, provided that:

2.1.1. Natural person, individual entrepreneur:  

1) Is not included on the list of natural persons with respect to whom there is information about their involvement in money laundering, extremist or terrorist activities and/or on the list of organizations and individuals with respect to whom there is information about their involvement in proliferation of weapons of mass destruction or are associated with such persons;

2) does not have an unexecuted or pending conviction for economic crimes or offenses against the state, public service interests;

3) in respect of which the court has not instituted or has not instituted proceedings applied in the insolvency (bankruptcy) proceedings or in respect of which he was and remains disqualified, during which he is not entitled to carry out entrepreneurial activity, as well as to occupy positions in the management bodies of the legal entity and to participate in any other way in the management of the legal entity.

2.1.2. legal person:

1) a commercial company established and operating in accordance with the law;

2) whose controlling persons and/or director/administrator (sole executive body) are not on the list of organizations and individuals in relation to which there is information about their involvement in money laundering, extremist or terrorist activities and/or on the list of organizations and individuals in relation to which there is information about their involvement in proliferation of weapons of mass destruction or are associated with such persons;

3) the persons controlling such legal person and/or its administrator (sole executive body) do not have an unspent or pending conviction for an economic crime or a crime against the state, public service interests;

4) the head (sole executive body) of such legal entity has not been subject to an administrative sanction in the form of disqualification or, as regards the head (sole executive body) of such legal entity, the period during which he/she is deemed to have been subject to an administrative sanction in the form of disqualification has expired;

5) no insolvency/bankruptcy proceedings have been initiated against such legal entity.

2.2. Requirements for investors:

2.2.1 Investors may be natural persons, sole proprietors and legal entities registered in accordance with legal requirements.

2.2.2. Investments by a citizen using a crowdfunding platform do not require state registration.

2.2.3 By accepting the Rules of the Platform, the investor gives an assurance of compliance with the specified requirements and guarantees that there are no reasons preventing the conclusion of contracts with the Platform Operator;

2.2.4. By accepting the Investment Proposal (offer), the Investor certifies that all the requirements set out in these Platform Rules are fulfilled;

2.2.5. The natural person must not mislead the Operator and must provide unbiased consent;

2.2.6. The platform operator has the right to validate the data provided by the investor, and until further information is obtained, the information provided by the investor is presumed to be true;

2.3 The client/potential client is obliged:

2.3.1 Not to use the Platform for illegal transactions or operations, including fraud or money laundering;

2.3.2. Provide truthful information when registering, completing the Loan Application and communicating with other clients;

2.3.3. Keep the tools necessary for logging on to the Platform, including the identity card, passwords and client (user) name in such a way that third parties do not get into their possession;

2.3.4. Inform the Platform Operator of subsequent changes to the data provided;

2.3.5. Inform the Platform Operator that third parties have obtained the data or tools specified in point 2.3.3;

2.3.6. Act polite and respectful when communicating with other customers or the Platform Operator.

2.3.7. upon registration confirm that he/she is at least 18 years of age and that he/she is a natural person or represents a legal entity that has been separately approved by the Platform Operator to use the Platform.

2.3.8. To be liable for damages caused to the Platform Operator and/or other customers, if the latter have relied on such false/ untruthful/ misleading information provided.

2.3.9. The Customer is liable for damages and losses resulting from the fact that third parties have come into possession of the data and tools specified in paragraph 2.3.3. The Customer is aware of this fact and accepts that third parties misusing the data may predispose the Customer to obligations that the Customer will be obliged to perform.

2.4 The Platform Operator shall have the right to restrict or cancel the Client's right to use the Platform and to refuse to fulfill its duties or obligations under these Rules, the Equity Funding Agreements, the Agency Agreement/Clause or any other agreement and/or contract if it becomes apparent that:

2.4.1. the Client has breached the Platform Rules or any of the obligations of any other agreement and/or contract entered into with the Platform Operator;

2.4.2 The Customer has provided the Platform Operator or other customers with false, misleading or inaccurate information;

2.4.3. The client acts in a vulgar manner or ignores generally accepted moral standards in society;

2.4.4 The Client does not identify with the Platform Operator's policies.

2.5 The Client shall transact with the Platform Operator directly and at its own risk. The Platform Operator shall not be liable for any obligations that may arise for the Client in accordance with legal requirements and as a result of the conclusion or execution of the Equity Funding Agreements, the Mandate Agreement/Contract or the use of the Platform.

2.6. The platform operator is not responsible for the accuracy and correctness of the information submitted by the client or any other person.

2.7 The platform operator shall not be liable for:

2.7.1. Accuracy of data provided by the client;

2.7.2. Violations of the Platform Rules by the Client or for illegal and/or fraudulent behavior of the Client;

2.7.3. Fulfilment of obligations under the Participating Financing Contract entered into with the Borrower, including, but not limited to, late contractual payments;

2.7.4. Fulfilment of the obligations arising from the Participatory Finance Agreements, Mandate Agreements/Clauses or any other acts or omissions of the clients.

2.8 Nothing in these Terms of Use shall limit the Customer's liability for willful breach of obligations.

3.  Ways to invest using the Platform

3.1 Investors may enter into Participatory Finance Agreements with the Platform Operator only in accordance with the applicable regulatory acts, these Rules and the agreements concluded with the Platform Operator.

3.2. The realization of the investment through the Platform Operator takes place by the Investor empowering the Platform Operator to sign and manage, at the risk and for the account of the Investor, Equity Financing Agreements and/or collateral agreements (pledge, mortgage, surety, etc.) with one or more borrowers, within the limit of the amounts invested and the conditions approved by the Investor on his/her Platform Client Profile.

3.3. The Borrower's Investment Proposal is placed on the Platform and addressed to the Platform's clients, which represents a formal offer to enter into the Equity Contract (with the Borrower) on the individual terms specified in the Investment Proposal/offer. The Investor may revoke the investment within 14 days of making the investment.

3.4. The Investor confirms/reconfirms his/her identity by Electronic Signature or by making a bank transfer to his/her virtual account on the Platform from a private bank account opened in his/her name, or by means of other accepted payment instruments.

3.5. Borrowers are required to present a copy of a valid identity card/passport. The copy must be in color and double-sided. All customer information received through the identification process, such as name, surname, personal code (identification number), bank account number, domicile, residence, etc. will be collected at the end of the registration process and stored.

3.6 The Platform Operator shall not be limited to these Rules when identifying a Client and shall have the right to modify the Client identification process and to use any other means of identifying a Client or potential Client that it deems appropriate at any time.

3.7. When logging on to the Platform, the client must enter the client name (username) and password. Any person who logs on to the Platform using the Client's tools required for logging on will be presumed to be the plenipotentiary representative of the Client.

3.8. If the Platform Rules do not require any additional identification or formality, transactions (including trades) with the Platform Operator shall be executed only upon their approval via the registered Email.

4. Registration and initial authorization of the potential client on the Platform and adherence to the Platform Rules

4.1 Upon initial registration, the potential customer is obliged to read the content of these Rules, the personal data processing policy, the Risk Warning and to express the following consents:

1) consent to the processing of personal data.

2) agreement to receive a credit report based on credit history (for Borrowers).

4.2. The following customer data will be entered upon account registration:

4.2.1 For a natural person - name and surname, date of birth, place of birth, identity card data: series and number, date of issuance, issuing authority and, where applicable, issuing subdivision number, address of registration of domicile and address of actual domicile, personal code (identification number), e-mail address, mobile contact telephone number;

4.2.2. After filling in the data, the client will upload on the website scanned copies of: identity card, including photo, current address page of the current registered residence, marital status information.

4.3. The platform operator checks the correctness and completeness of the data provided and has the right to refuse the initial registration (not to accept the potential client) if the potential client has provided incorrect/false/manipulative/incomplete data.

4.4. The potential customer can register on the Platform (by selecting one or more options of its quality) as:

1) An investor who is a natural person;

2) An enterprising individual investor;

3) An investor who is a legal entity, being represented by the natural person empowered to make this registration;

4) An individual wishing to attract investment;

5) An individual entrepreneur, a person wishing to attract investment;

6) a legal person, a person wishing to attract investments, represented by the authorized natural person who carries out this registration, with the consent of the founder of the legal person.

4.5 The adherence to the Rules of the Platform by a potential client, which is a legal entity, through an authorized representative (e.g. power of attorney) other than the sole executive body of the legal entity is not permitted, i.e. is expressly prohibited by these Rules.

4.6. For joining the Rules of the Platform as a sole proprietor, the individual who has filled in the data in the client's account, chooses the status of sole proprietor according to the state registration number of the sole proprietor, accepts the Rules of the Platform and continues to operate on the Platform as a sole proprietor.

4.7. For joining the Rules of the Platform as a legal entity - the director/administrator (the sole executive body) who has filled in the data as a natural person, - chooses the status of a legal entity, on behalf of which he/she will act as a client of the Platform Operator, accepts the Rules of the Platform and continues to operate on the Platform already on behalf of the respective legal entity.

When registering as a person wishing to attract investment, a legal person must additionally provide the following information and documents:

1) information on all persons who have the right to dispose of the share capital or voting rights in the supreme management body of the legal entity, or any other persons who have influence over the activity of the legal entity;

2) information on the structure and nominal composition of the management bodies of the legal entity;

3) the annual (financial) accounts for the most recently completed financial year, together with the auditor's report on those accounts, if the annual financial statements have been audited;

4) list of disputes in which the legal entity is directly or indirectly involved.

4.8. After the prospective customer has carried out the specified actions, the Operator shall ensure verification of the data. The Operator has the right to require the provision of certain additional documents and information at its sole discretion. The information requested at the data verification stage is necessary for the Operator to identify and verify the Prospective Client's compliance with the Rules of the Platform. On the basis of the data provided in the potential client's application and the data received as a result of additional requests, the potential client is verified, and the Operator decides whether to accept the potential client as a client and whether to enter into Equity Contracts and any other transactions on the Platform. The Potential Client obtains the right to make full use of all services of the Platform as a Client under the conditions set out in the Rules of the Platform, after adherence to them and acceptance by the Platform Operator.

4.9. The Operator shall decide, at its sole discretion, whether to accept or refuse customer status, according to its own validation criteria. The operator is not obliged to provide information on the decision-making methodology or reasons for refusal.

4.10. If the Operator decides to refuse to accept the potential client, the potential client shall not acquire the right to use the services of the Platform. The potential Client shall be required to remove the circumstances that led to the refusal to accept the Platform Operator's Client status, if it is possible to remove such circumstances.

4.11. If the Operator requests additional information from the potential customer, the question of the customer's status and ability to access the services on the Platform shall be postponed until a satisfactory response to the request for additional information is received that would allow the Operator to take the appropriate decision.

4.12. The Operator has the right to repeat the verification of clients or potential clients, based on the results of which a decision may be taken to restrict or prohibit access to the Platform due to their violation of the Platform Rules or for other valid reasons.

4.13. The personal account (Client Profile) contains: information about the Client and, where applicable, the person on whose behalf the Client is acting, information about the actions performed by the Client in his/her own name or on behalf of the person represented and, where applicable, the legal consequences of such actions; electronic documents confirming the Client's actions on the Platform or resulting from such actions;
payment modules for client transactions, information about actions performed on the client's account and the status of payments; form for personal interaction with the Operator, as well as other data.

4.14. The Client/Prospective Client is obliged to keep the information required to log in to the Platform confidential and not to disclose the password to a third party under any circumstances and to notify the Operator immediately if it is found or there is reason to believe that the password has become known to a third party.

4.15. The Platform Operator shall have the right to temporarily restrict (block) the access of the Client/Prospective Client until the reasons that led to such restriction are removed.

4.16. If the Client/Potential Client breaches the obligation to maintain confidentiality of the information necessary for login identification of the account login on the Platform, as a result of which third parties have access to the Client/Potential Client's Profile, they are responsible for the consequences of such access (possibility of access), and the actions performed by the third parties are considered as actions performed by the Client/Potential Client, unless they are canceled by the Operator.

4.17. The Client/Prospective Client shall immediately change the account data and password with which he/she accesses the Platform if he/she has reason to suspect that his/her data has become known to a third party or may be used by a third party. If the Electronic Signature has been compromised, act in accordance with the relevant instructions from the Operator.

4.18. The Client/Prospective Client is responsible for the accuracy of the information and documents provided by him/her to the Operator and/or placed on the Platform and assumes the risk of the consequences in case of incomplete and/or inaccurate information.

4.19. The Platform Operator is not responsible for the content of the files uploaded by the Client/Potential Client, including whether the information contained in such files corresponds to the information provided by the Client/Potential Client when filling in the electronic forms of the documents submitted to the Platform.

5. Requirements regarding the content of the investment proposal (offer)

  5.1. The borrower provides information for the formation of the Investment Proposal (including the Key Information Sheet on the Investment):

5.1.1. Information on the minimum amount of funds which is a mandatory prerequisite for the Borrower to enter into a Participating Finance Contract at the end of the term of the Investment Proposal;

5.1.2. Information on the maximum amount of funds, upon reaching which the Investment Proposal is deemed to be consumed and the Borrower will be obliged to enter into the Equity Contract;

 5.1.3. Information on the duration of the investment proposal;

 5.1.4. Information giving an overview of the purpose of the investment;

 5.1.5. Information on circumstances that may affect the achievement of the objectives set;

5.1.6. Information on all persons entitled to dispose of share capital or voting rights in the supreme management body of the legal person, or any other persons who have influence over the legal person's activity. Information on the structure and nominal composition of the governing bodies of the legal person;

5.1.7. the accounting (financial) statements, together with the auditor's report on those statements, if the annual financial statements have been audited;

5.1.8. List of disputes directly or indirectly involving the legal entity or individual;

5.1.9. Other information in accordance with the Loan Application/Investment Proposal Form, the Key Investment Information Sheet provided by the Platform Operator, necessary for the proper formation of the Borrower's investment proposal;

5.1.10. Extract from the publicity register of the real estate asset(s) pledged in favor of the Company to guarantee the repayment of the Loan. In the case of other guarantees (pledge, surety, bank guarantee, etc.) - other confirming documents allowing their provision.

5.2 The Borrower shall use the relevant forms on the Platform when preparing the investment proposal.

5.3. The investment proposal is subject to publication/placement on the Platform after it has been analyzed and accepted by the Platform Operator.

5.4. After verification of the Investment Proposal, the Platform Operator has the right to refuse the publication of this Investment Proposal on the Platform, without giving reasons. Such decision of the Operator may not be challenged.

5.5. The published investment offer, including information on the entity that proposed the offer, is a legal offer available for viewing by potential clients/customers and acceptance by clients.

5.6. The entity that has proposed the offer may not make changes to the Investment Proposal after it has been published on the Platform.

5.7. If the maximum amount of funds or the minimum amount of funds is met (at the expiry of the term of the investment proposal) the Borrower is obliged to take out the loan.
If the Borrower refuses to take out the loan, the Borrower shall pay the Platform Operator a compensation of up to 5% of the maximum amount of funds requested.

6. Virtual account

6.1. The money transferred to the Accumulation Account will be reflected in the Virtual Account of the Investor whose Personal Code (identification code) has been mentioned in the transfer order.

6.2 The money transferred by the Investor is handed over for the fulfillment of the mandate. Such amount is by its nature a receivable which the Platform Operator has acquired in its name, but at the risk and for the account of the Investor and solely for the purpose of its use for the performance of the Equity Contracts. The said monies do not belong to the Company's insolvency estate and no claim may be made for such monies in enforcement proceedings against the Company.

6.3. The Platform Operator shall have the right to make deductions and inclusions to the Investor's account in order to fulfill the Investor's obligations arising from the Platform Rules, the Equity Contracts or other agreements entered into by the Investor. The Investor irrevocably authorizes the Platform Operator to debit and credit its account as set out in the Platform Rules, the Equity Contracts,
the Mandate Agreement/Clause or in any other contract or agreement entered into with the Platform Operator.

7.  Servicing the claim

7.1 Pursuant to the Equity Funding Agreement / Mandate clause, the Investor grants the Platform Operator irrevocable consent to:

7.1.1. Servicing of the Receivable, i.e. the Equity Receivables Agreement entered into with the Borrower, the Mortgage Agreement (or any other security, personal or independent security agreement) under which the Receivable was formed for the benefit of the Investor, in accordance with these Rules. The Equity Funding Agreements, the Mortgage Agreement (or any other security agreement, personal or autonomous) will be serviced by the Operator
Platform Operator. Servicing of the Receivable may include:

7.1.1.1.1. Possession of all documents related to the Participating Financing Contract, Mortgage Contract (or any other contract of security in rem, personal or autonomous);

7.1.1.2. Communication with the Borrower and the authorities;

7.1.1.3. Performance management of the Participatory Finance Contract, including outstanding amounts;

7.1.1.4. Negotiations and disputes with the Borrower;

7.1.1.5. Debt collection;

7.1.1.1.6. The realization of the right of mortgage with an enforceable formula or of any other real, personal or autonomous guarantees;

7.1.1.1.7. Debt recovery in court/arbitration, and 7.1.1.1.8. Enforcement of court/arbitration decisions.

7.1.2 Enter into agreements to amend the Equity Financing Agreement, the Mortgage Agreement (or any other security agreement, personal or stand-alone) serving as the basis for the formation of the Receivable, in accordance with applicable local regulations and market practices, including, but not limited to, the assignment of the Receivable, reducing the Receivable by the amount of the debt servicing fee. This includes, but is not limited to:

7.1.2.1. Assignment of the claim;

7.1.2.2. Reduction of the Receivable by the amount of the service charges;

7.1.2.3. Establishing a new Repayment Schedule;

7.1.2.4. Granting a grace period for repayment of the Loan;

7.1.3. assign the Receivable if the amount due has not been paid in full by the date of Default and a new payment schedule has not been agreed with the Borrower. The assignment of the claim shall take place at the conditions agreed by the Platform Operator, taking into account the interests of the Investors and the economic and financial situation on the market.

7.2. The Platform Operator shall transfer any amount collected for the payment of the Receivable from the Borrower to the Virtual Account of the Investor, with the exception of fees, debt servicing costs, commissions and other payments paid by the Borrower and the Investor.

7.3 Notwithstanding the written rights and obligations set forth in this section of the Rules, the Investor alone shall bear the liability for any risks related to or arising from the purchase of the Receivable, including risks related to the Borrower's failure to perform the Equity Funding Agreement with the Borrower and the Borrower's compliance with its terms. The Investor, represents that it understands that, even using its best efforts, the Platform Operator does not
can guarantee the repayment of the money borrowed under the Equity Funding Agreement entered into with the Borrower and/or from the assignment of the Receivable.

8.  Collection of  data

8.1. After accepting these Rules, expressing the intention to conclude a transaction through the Platform, the client/potential client gives his/her consent to the Platform Operator to process his/her personal data in accordance with these Rules and the related legislation.

8.2. The Platform Operator has the right to process all data about the Client/Prospective Client that has been received from the Client/Prospective Client in the course of accepting these Rules, signing the Equity Funding Agreements, as well as other operations, carried out in the course of providing services to the Client/Prospective Client in accordance with the Rules and agreements concluded with the Platform Operator. The Platform Operator shall also have the right to search for and collect data about the Client or Prospective Client from publicly available sources or from the respective service providers in the course of providing services to the Client or interacting with the Prospective Client in accordance with these Rules.

8.3. The Platform Operator shall have the right to process all customer or potential customer data that is reasonably necessary for the provision of services under these Rules. The Platform Operator shall process primarily, but not limited to, the following customer or prospective customer data:

8.3.1. Personal data of the client or potential client, such as name, date of birth, personal code, language of communication, family status, identification documents, etc.;

8.3.2. Contact details of the client or potential client such as postal address, home or residence address, e-mail address, telephone number, etc.;

8.3.3. Data on transactions and legal relationships related to the client or potential client (including transactions carried out through participatory finance platforms);

8.3.4. Data about the habits, preferences and satisfaction of the client or potential client when using the Platform services;

8.3.5. Data on participation in consumer games and campaigns, such as data on points obtained, prizes won, etc;

8.3.6. Data obtained in fulfillment of an obligation under the law.

8.4. Purpose of processing customer or potential customer data:

8.4.1 The Platform Operator shall use the personal data of the Client or potential Client for the provision of services to Clients on the basis of these Rules and other documents and/or contracts concluded on the Platform, including but not limited to fulfilling the Platform Operator's obligations, as well as ensuring and managing the performance of the contracts concluded.

8.4.2 The Platform Operator also has the right to use the personal data of the client or potential client for advertising the Platform services, developing and maintaining the Platform Operator's IT systems and services, performing statistical and financial analysis, execution and protection of the Platform Operator's and/or other client or potential client's data.

8.4.3 In order to establish a legal relationship with the client, to make a decision in relation to a client transaction and to verify the due diligence of the client, the Platform Operator is entitled to process, in addition to the data obtained from the client or potential client, any data on the client or potential client from publicly available sources and the respective service providers.

8.5. Disclosure of customer or potential customer data to third parties:   

8.5.1 The platform operator has the right to disclose customer or potential customer data (to the extent reasonably necessary):

8.5.1.1.1. any other person related to the fulfillment of the Platform Operator's obligations under these Rules (including, but not limited to, other customers, communication and printing service providers, payment intermediaries, financial institutions, public authorities, IT service providers, etc.);

8.5.1.2. To any member or employee of the Platform Operator, provided that the customer's data is necessary to provide a quality service;

8.5.1.3. To any service provider used by the Platform Operator for the activities necessary to provide a quality service;  

8.5.1.4. To any other entity, including state institutions, under the conditions provided by law.

8.5.2. The Platform Operator has the right to provide the personal data of the client or potential client to a person who provides the Platform Operator with services, provided that the provider of that service undertakes an obligation to the Platform Operator not to disclose that information to third parties;

8.5.3 Where the client or potential client has sent the Platform Operator contact details (such as postal or e-mail address, telephone number, etc.), the client or potential client shall be deemed to have given consent to the Platform Operator to receive any information from the entity using these means of communication.

8.6. Data recording:  

8.6.1. The platform operator has the right to record all customer or potential customer data received through the communication (e.g. mail, telephone, e-mail, Platform, etc.).

8.6.2 The Client or potential Client is obliged to immediately notify the Platform Operator of all relevant changes to the data submitted to the Platform Operator.

8.6.3 The Platform Operator will process the customer or potential customer's data as long as this is necessary for the Platform Operator's business purposes and the fulfillment of any obligation under these Rules and applicable law.

8.7. When accepting these Rules and expressing statements of intent (including by conclusive means) through the Platform Operator, including by signing the Equity Contracts, the Client shall provide correct and accurate data. Deliberate submission of false and incomplete information is prohibited and is a breach of these Rules.

8.8 By accepting these Rules, each Client or potential Client certifies that the data submitted by him to the Platform Operator is correct.

8.9. Indication of any changes to the data:

8.9.1 The Client/Prospective Client shall immediately notify the Platform Operator of any subsequent changes to his/her data;

8.9.2. Notification of any changes that may occur to the client or potential client's data will be provided in writing or through technical/electronic methods offered by the Platform Operator;

8.9.3 Refusal or failure to notify of any changes to the data will constitute a breach of the Rules;

8.9.4. The contact information provided by the client/potential client is considered correct if the client/potential client has not notified about subsequent changes;

8.10. Acceptance (Authorization) of the Client and respective rights of the Platform Operator:

8.10.1 Upon acceptance of these Rules, the client/potential client grants the Platform Operator the right and consent to process his/her personal data, as well as trade secrets, in accordance with these Rules, as well as in accordance with legal procedures. The Client/Prospective Client who is a natural person has the right to withdraw his/her consent to the processing of personal data at any time, to request the cessation of processing
personal data or to seal the collected personal data and close the Client Profile, provided that the Client has no agreements and/or contracts with the Platform Operator, does not hold any receivables, and provided that the Platform Operator has no obligations arising from legislation for data retention, including the regulatory obligation imposed by the supervisory authority to keep documentation, including the Transaction Log, for at least 5 years after the termination of business relations.

8.10.2. The platform operator shall maintain the confidentiality of the client/potential client's data and shall comply with all provisions arising from local regulations on personal data protection. The Platform Operator shall have the right to disclose the personal data of the Client or potential Client to third parties, including other Clients, in the cases provided for in these Rules or if required by legal requirements.

8.10.3. The Platform Operator shall have, inter alia, the right to use the data submitted by the Client or potential Client at any time, as well as the data entered by the Client when using the Platform, for statistical purposes and to disclose the statistical data received over the Internet.

9. Platform Operator Remuneration

9.1 The remuneration for the provision of the Platform services is paid by the Clients in the amount and under the conditions set out in the Fees published on the Platform.

9.2. When concluding the Participatory Financing Contracts, clients agree to the payment of the remuneration in the manner set out in the Rules and Tariffs published on the Platform.

9.3 All payments between clients and the Platform Operator will be made in the currency indicated in the contracts, in non-cash form.

9.4. The remuneration for the use of the Platform is payable by the Borrower upon the placement of the Loan Application on the Website and/or upon the transfer of the Investors' funds from the Accumulation Account to the current (bank) account of the Borrower, by withholding and debiting the remuneration of the Platform Operator from the Accumulation Account to the current account of the Platform Operator, unless otherwise provided for in the Tariffs

  9.5. Any subsequent changes to the remuneration structure for the services provided (the Fees for the services provided by the Platform), including the introduction of new fees or changes in the percentage of fees, will be communicated to the Client at least 30 days prior to their application, and will only come into effect after the information on the Platform has been updated and the Client's consent has been obtained, if the change directly affects the Client. If the Client continues to use the services of the Platform within 30 days after the communication of the new Fees, the Client shall be deemed to have tacitly accepted the new Fees.  

9.6. Transactions carried out and services provided by and through the Platform Operator are generated and displayed in the Client Profile, at the end of the transactions/transactions.

10. Conditions of granting the right to use the Platform software and other conditions

10.1. By accepting these Rules, Clients acquire the right to use the Platform software.

10.2. The right to use the Platform includes the possibility of concluding Participatory Financing Contracts and other legal acts with the help of information technology and technical means of the Platform.

10.3 As part of the right to use the Platform, the Operator undertakes to provide:

10.3.1. Providing access to the client's personal account (profile);  

10.3.2. The possibility to conclude transactions directly on the Platform, through the technical means of the Platform.

10.3.3. Technical assistance on issues related to the functioning of the Platform.

10.3.4. Information on changes to the Platform functionalities.

10.4. As part of the right to use the Platform, the rights of the Platform Client are:

10.4.1. Use the Platform and comply with the Platform Rules in order to fulfill the terms of the agreements concluded.

10.4.2. Receive technical assistance from the Platform Operator regarding the use of the Platform.

10.5 A person wishing to attract investments can have only one client profile on the Platform.

10.6. Responsibilities of the Platform Client:

10.6.1. Provide truthful information about themselves when filling in the relevant forms, including upon further requests from the Platform Operator.

10.6.2. Provide the Platform Operator with the bank details and other information required for the transfer of funds and promptly (no later than one day after the change) notify the Platform Operator of any change in the bank details.

10.6.3. When using the Platform, abide by the Platform Rules and be guided by the principles of integrity, honesty and reasonableness.

10.6.4. To pay promptly and in full for the services in accordance with the Tariffs published on the Platform.

10.6.5. To read in due time (no later than the next day) the messages displayed in his/her personal account. The Platform Client shall check the e-mails and SMS messages received at the telephone number provided by the Client to the Platform Operator as contact information. Messages sent to his personal Profile or by e-mail and/or the Client's telephone number will be considered read by the Client after 24 (twenty-four) hours from the date of sending, after deduction of the time of technical interruptions, maintenance and/or blocking access to the Client's Profile. The risk of non-receipt of messages sent to the email address or telephone number provided shall be borne by the Customer.

10.6.6. Not to allow third parties to use his/her Personal Profile in any form.

10.6.7 Not to use the Platform for illegal activities, including money laundering and/or any form of tax evasion.

10.6.8. Respect the Platform Rules.

10.6.9. to pay the remuneration to the Platform Operator for granting the right to use the Platform, as well as other fees/commissions in accordance with the Tariffs published on the Platform.

10.6.10. provide the Platform Operator with consent to process personal data and/or to access commercial secrecy in order to check the accuracy of the information provided and to analyze investment proposals.

 10.7. Rights of the Platform Operator:

10.7.1. To verify as it deems appropriate the data provided by the Customer. If the verification reveals that the data and/or documents provided by the Client are not true, the Platform Operator may restrict the Client's access to the Platform until the situation is remedied.

10.7.2 To carry out technical works, including maintenance/maintenance works and, if necessary, to cope with emergency situations by temporarily restricting access to the Platform in order to protect the data and interests of the clients.

10.7.3. As necessary, modify or update the Platform, introduce new features and/or functionalities of the Platform, modify them in whole or in part, as well as remove existing features and/or functionalities of the Platform, including in order to comply with legal or authorities' requirements.

10.7.4. if necessary, to restrict the Client's access to the Platform in cases of serious violation of legal obligations, the Rules of use of the Platform or other acts and regulations of the Platform.

10.8. Obligations of the Platform Operator:

10.8.1. Provide the client access to use the Platform.

10.8.2 Organize, through the technical means and functionalities of the Platform, the possibility to conclude Participatory Financing Contracts, as well as other legal acts.

10.8.3. Provide the client of the Platform with access to the Client Profile (account) in order to submit Loan Applications and enter into Participatory Finance Contracts or other legal acts, using the information technology, technical means and functionalities of the Platform.

10.8.4. To comply with the requirements of the law, regulations and relevant rules when carrying out the activity.

10.9. The Platform Client gives assurances to the Platform Operator, in accordance with applicable law, regarding the following:

10.9.1 The Client of the Platform confirms that it acts solely in its own interest and does not engage in activities for the benefit of third parties when using the Platform.

10.9.2 Use of the Platform shall be made personally by the Client or by the Client through authorized representatives / proxies on behalf of and in the best interests of the Client (provided that such representation is permitted).

10.9.3. All information and documents provided by the Client/Prospective Client to the Platform Operator are true and truthful and do not contravene any applicable legislation.

10.9.4 The Profile (Account) is used exclusively by the Client or its authorized representatives on behalf of and in the interest of the Client (provided that such representation is permitted).
The Client acknowledges and accepts all risks related to third party access to his/her account.

10.9.5. The Client confirms the absence of any claims against the Platform Operator in the event that a third party accesses his account, with or without his consent. The actions taken by the third party shall be considered as actions personally performed by the Client and shall be deemed as a certain and unambiguous expression for the purpose of obtaining the appropriate results of the action.

 10.9.6. If the Client or his authorized representatives commit technical errors by actions of using the Platform (pressing buttons, entering data or codes, passwords, clicking on links, using electronic signature, etc.), these are considered as actions performed personally by the Client and are considered as a certain and unambiguous expression for obtaining the results corresponding to the action.

10.9.7 In case of providing information about third parties for verification purposes, the Client shall be deemed to have their consent to provide personal data to the Platform Operator.

10.9.8 The information provided by the Customer shall be deemed to be true and complete. The Platform Operator shall have the right not to verify the authenticity of the statements provided by the Client and shall rely on good faith and on the information provided being complete, accurate and up to date.

10.10. Parties' liability:

10.10.1. The Platform Operator shall not be liable for the actions of third parties, including the actions of other entities dealing with clients, in the transactions concluded or operations carried out with the Platform Operator.

10.10.2 The Parties shall be fully liable for the non-performance or improper performance of the obligations under these Rules.

10.10.3 The Client is solely responsible for any illegal acts and any legal consequences carried out on its behalf through the Platform Operator.

10.11. Dispute resolution:

10.11.1. For disputes between the Platform Operator and the Client relating to these Rules, including the use of the Platform, as well as for legal acts concluded pursuant to these Rules, the procedure for out-of-court out-of-court settlement of disputes is mandatory.

10.11.2. Before filing a claim, the party whose right is allegedly violated/injured must send a prior complaint to the other party, and the other party must respond within 15 (fifteen) calendar days.

10.11.3 If a dispute or a dispute is not settled by negotiation (correspondence) between the Platform Operator and the Client, the dispute shall be settled by the courts in accordance with applicable law.

10.12. The impediment justifying the non-performance of the obligation (force majeure) and the hardship clause:   

10.12.1 The parties are exempt from liability for partial or total non-performance of their obligations, if such non-performance is caused by circumstances of force majeure occurring after the conclusion of the contract, such as floods, fires, earthquakes and other natural phenomena, as well as war, hostilities, prohibitive actions of the authorities and acts of the authorities.

It shall not constitute force majeure if the Borrower is unable to perform its obligations under the Participating Financing Contract, irrespective of the cause of such inability.

10.12.2 In the event of force majeure, each Party shall, without delay, notify the other Parties in writing thereof. The notification must contain details of the nature of the circumstances,

as well as official documents attesting to the existence of such circumstances and, if possible, providing an assessment of their effect on the party's ability to perform its obligations under the Rules and/or the contract.

10.12.3 If a party fails or neglects to dispatch or fails to dispatch the required notice in accordance with the Rules and/or the contract to (the other party), then it shall indemnify the other party for any loss suffered as a result thereof.

10.12.4 In the event of force majeure, the due date for performance of the Party's obligations under the Contract shall be extended in proportion to the period of time during which the circumstances and their consequences are in effect.

10.12.5 If the force majeure circumstances and their consequences continue to apply for more than two months, the parties shall continue to negotiate (by exchanging messages via the customer's personal account) to identify acceptable alternative ways of performing the commitments under these Rules.

10.12.6 The Platform Operator shall not be liable for any inconsistency in the settings of the Client's or potential Client's personal computer(s), is not responsible for the performance and speed of data transmission over the information and telecommunications network "Internet", provided by the Client's or potential Client's service provider.

10.12.7. Hardship clause: In case of massive depreciation of the national currency (>10 % in one month), which justifies the revision of the contract due to unforeseen circumstances, in order to balance the risks of substantial currency depreciation in the Participatory Finance Contracts, the Platform Operator, in order to respect the principle of fairness and the interests of all participants in the Participatory Finance process, may unilaterally convert the funds into one of the main reserve currencies established by the International Monetary Fund for international financial transactions, with the investors and borrowers bearing the additional costs incurred by the exchange fees. In the situation referred to in this point, the Platform Operator shall notify clients.

10.13. Assumption and termination of commitments under these Rules:

10.13.1 Commitments under these Rules shall be deemed to be made from the moment of their acceptance in accordance with these Rules.

10.13.2 The Client may terminate the commitments specified in item 10.13.1 only if all obligations to other Clients and to the Platform Operator arising from the legal acts signed with the Platform Operator have been fulfilled, if they have come to an end (as a result of the completion of transactions), and the Client's account balance is zero, by sending a notification to the Platform Operator via the Platform Operator's support e-mail, in compliance with the provisions of these Rules.

10.13.3 The Platform Operator may terminate the commitments entered into under these Rules at any time if the Client breaches the Rules, or if the Client withdraws its consent to the partial or total processing of its data.

10.13.4 The Platform Operator may temporarily restrict the Client's access to the Platform, without prior notice to the Client, if the Client has used or is using, without the Platform Operator's written consent, automated means (other than the Auto Invest module provided by the Platform Operator) to access the Platform and collect any data from the Platform by automated means, including but not limited to harvesting robots, or other automated devices, applications or programs, or if the Client uses data harvesting techniques and directly affects the Platform. The restriction period lasts until
clarification of all issues that triggered the restriction.  

10.14. All legally essential actions/operations in connection with the conclusion, amendment and termination of commitments entered into under these Rules shall be performed by the Parties by means of electronic document flow/exchange, using the information technology, technical means and functionalities of the Platform. Legally essential actions/operations shall be performed by electronic signature.

10.15. Any communication between the Parties in connection with the fulfillment of the undertakings entered into under these Rules shall be effected by the exchange of electronic messages and documents in accordance with the Rules.

10.16. The contact e-mail address of the Platform Operator is [email protected] and the e-mail address of the Client is the e-mail address provided by the Client when registering on the Platform.

10.17. Each Party shall be responsible for the accuracy and veracity of the data provided, including bank details, and shall notify the other Party of any changes thereto no later than the second working day. If the Party fails to fulfill this obligation, it shall be liable for the consequences of such failure.

10.18. All legal relationships between the Parties that are not governed by the Platform Rules will be governed by the legal requirements.

10.19. The Platform and all intellectual property rights in the content of the Platform belong to the Platform Operator. The Client may not save, copy, copy, modify, transfer, transfer, transmit or disclose the Platform pages for any purpose other than personal use.

10.20. The Terms of Use shall enter into force upon their acceptance by the Client and shall be applicable for the entire duration of the legal relationship between the Client and the Platform Operator governed by these Rules.

11. Termination of services and/or Platform activity

11.1. Termination of the Platform:

11.1.1. In the event of the Platform Operator becoming insolvent or otherwise ceasing to operate, the use of the Platform for new transactions will cease immediately. The money constituting the balance of the Virtual Account shall be returned to the Client.

11.1.2. The Client shall be provided with all information from the Platform's database regarding the claims he holds. Irrespective of the Platform Operator's insolvency, the Client shall be provided with all information from the Platform's database and in respect of the claims the Client holds.

11.1.3 Insolvency or the commencement of the Platform Operator's cessation of activity shall not affect the validity of the Equity Contracts, Guarantee Contracts and other commitments entered into under these Rules.

11.1.4 In the event of insolvency or the commencement of winding up for other reasons, the Platform Operator shall take reasonable steps to enter into an agreement with another undertaking to transfer the servicing and administration of the contracts. Once a suitable undertaking has been chosen, the Platform Operator will notify the Parties/Clients of the identity of the undertaking with which the arrangements have been made and how it will continue to administer the Platform, including contracts and accounts on the Platform. The measures of the approved Business Continuity Plan shall be followed.

11.2 The provision of services by the Platform Operator in relation to a particular client may be terminated by the Operator in the following cases:

11.2.1. At the customer's initiative, if the customer has no active contracts with other customers and no
has no outstanding obligations towards the Clients or the Platform Operator.

11.2.2 By agreement between the Client and the Platform Operator.  

11.2.3. At the Platform Operator's initiative, if the Client has violated legal requirements, these Rules, the Contract with the Platform Operator or other clients. In this case, the Client's obligations towards other Clients and/or towards the Platform Operator, contracted prior to the termination of the Platform Operator's service provision, shall be preserved and remain in force.

11.2.4. in other cases provided for by legal requirements, these Rules or by decision of a competent court.

12. Procedure for accepting an investment proposal

12.1 The investment proposal (loan application) is an offer to Investors from the person wishing to attract investment (and to enter into a contract of equity financing, performance guarantee contract).

12.2 Upon receipt of the Investment Proposal, each Investor shall evaluate it and decide whether to accept it or not.

12.3. Acceptance of the Investment Proposal by an Investor is permitted only if the Investor complies with the Rules and the requirements of the applicable legislation.

12.4. Acceptance of an Investment Proposal by the Investor takes place by its selection (by conclusive means), with the allocation of the desired funds, within the limit of the total funds available in his Virtual Account.

12.5 In this regard, the Investor authorizes the Platform Operator to transfer to the Borrower the Investor's funds held in the Platform Operator's Accumulation Account, in the amount set by the Investor, together with the funds of other Investors.

12.6. The signing of the Participatory Finance Contract with the Borrower shall take place on the basis of the contract / mandate clause empowering the Platform Operator to this effect.

12.7. Once the actions set out in these Rules have been successfully completed, the transaction shall be deemed to have taken place, and the Platform Operator shall transfer the Investors' funds to the account
current account of the Borrower.

12.8. The investor who has accepted the Investment Proposal has the right to refuse the conclusion of the equity financing contract (revocation of the investment) within fourteen calendar days from the date of acceptance, but not later than the date of termination of the Investment Proposal.

12.9. If an Investor who has accepted the investment proposal refuses to enter into an Equity Funding Agreement (withdraws the investment), the Platform Operator shall have no right to transfer the funds to the Investor.

12.10. The notification of the refusal to enter into an equity investment contract (investment revocation) will be sent by the Investor who accepted the Investment Proposal to the Platform Operator via the technical means of the Investment Platform, using the Client Profile.

12.11. If the minimum amount of funds specified in the Investment Proposal has not been accumulated within the period of validity of the Investment Proposal, the Equity Crowdfunding Contract shall not be concluded (with the person wishing to attract investments), which the Platform Operator shall notify the Investors of no later than 7 business days following the expiration of the specified period. The minimum amount may be changed after reaching another minimum limit, if at the expiry of the term the Person wishing to attract investments has accepted this minimum.

12.12. The Platform Operator shall publish on the Platform the information on the date of termination of the Investment Proposal due to reaching the amount of funds specified therein on the day of termination.

13. Order of transfer of funds to clients

13.1 A personal (virtual) account is opened for each client for the purpose of accounting for funds and liabilities. The virtual account is a separate section of the Platform Operator's database, in which information on all client transactions including:

13.1.1. Crediting the investor's funds to the accumulation account (introduction of investor's funds).

13.1.2. Transfer of the investor's funds from the accumulation account for granting a loan to the Borrower.

13.1.3. Crediting funds received from the Borrower to the virtual account of the Investor in connection with the fulfillment of the Borrower's obligations to the Investor under the Participatory Finance Agreements (repayment of the outstanding amount of the loan, payment of interest on the term, payment of penalties, payment of interest on interest accrued and other monetary obligations).

13.1.4. Transfer of investor funds from the virtual account to the investor's bank account (withdrawal of investor funds).

13.1.5. Transfer of funds from the Accumulation Account to the Platform Operator's Current Account for payment of remuneration.

13.1.6. Receipt of funds by the Borrower (reflection of the debt on the client's personal account).

13.1.7. Modification of the amount owed by the Borrower.

13.1.8. Accumulation of interest, penalties and other payment obligations on customer accounts.

13.2. Transfer of investor funds to the person wishing to attract investment (Borrower):

 When the amount of funds indicated in the Investment Proposal is reached (collected), the funds will be transferred from the Investors for the concrete loan disbursement, by the Platform Operator sending a payment order to the bank on the Accumulation Account on the basis of which the funds will be debited from the Accumulation Account to the current (bank) account of the Borrower, within 3 (three) business days from the date of the conclusion of the Participatory Finance Agreement with the Borrower and the conclusion of the Collateral Agreements. The number of the Participating Financing Agreement and the Investment Proposal on the basis of which the funds are transferred shall be indicated in the Payment Order. On the day of transfer of funds to the Investors from the Accumulation Account, the Platform Operator shall reflect the changes in the database of the Borrower's debt to the Investors by entering such changes in the virtual account.

13.3. Transfer of Borrower's funds to the Investors for the purpose of repayment of obligations:

The borrower transfers the funds for debt repayment to the Platform Operator. The number of the Equity Contract is indicated in the payment order. The Operator shall record, no later than one (1) business day from the date on which the funds are transferred, the changes in the balance of the funds in the virtual account of the Investors who are the beneficiaries of these funds and shall modify the information on the balance of the Borrower's debt.

13.4. Withdrawal of funds by the investor:

Withdrawal of investor's funds shall be made by sending an appropriate order of the investor to the Operator through the technical means of the Platform. Withdrawal of funds is carried out only by bank transfer and only to the Investor's current (bank) account from the virtual account within the limit of the available balance in the Investor's virtual account, including funds reserved for execution of Investor's acceptances. Funds are
transferred from the Virtual Account no later than 5 (five) business days after receipt of the Investor's order. The term of transfer of funds to the Investor's bank account depends on the conditions of the bank servicing the Investor's bank account.

13.5. Crediting the Investor's Virtual Account:

The investor shall fund his Virtual Account by bank transfer from his bank account or other accepted payment instruments.

13.6. Settlements between Platform Clients and the Platform Operator:  

The remuneration of the Platform Operator is retained by the Platform Operator from the funds repaid by the Borrower under the Equity Contract.

13.7. Interest on the balance of the Accumulation Account:

The Investor shall not be entitled to require the Platform Operator to pay interest on the funds in the Accumulation Account if the Accumulation Account is not interest-bearing. If the funds have been transferred to the Accumulation Account as a result of an unidentified or erroneous payment, the details of which do not allow the purpose of the payment to be clearly identified, and the Platform Operator is unable to distribute these funds, the client who made the transfer is not entitled to charge the Operator interest on the funds in the Accumulation Account.

13.8. The Platform Operator reports to the Investor on transactions with the Investor's funds by reflecting in the Client Profile information on the amounts and dates of additions and withdrawals from the Virtual Account, indicating the details and the download link of the contract under which such transaction was carried out.

13.9. Notifications regarding the amounts and dates of additions, withdrawals and changes to the Client's Virtual Account, as well as the termination of the Investment Proposal shall be sent to the clients of the Platform by e-mail and/or client profile.

13.10. The income obtained by the Investor from the use of the Platform shall be declared and taxed in accordance with the laws of the country of residence or country of location of the Investor. The obligation to declare the income obtained for tax purposes is placed on the Investor.

14. Information exchange procedure between investors using the Platform

14.1. Exchange of information between investors is possible in the chat room of the Platform, where applicable.

14.2. The Platform Chat will become available to the investor after the conclusion of the Equity Funding Agreement, as applicable.

14.3. In order to view messages from Investors it is necessary to connect to the project CHAT room.

14.4. Once the Borrower has fully performed its obligations towards the Investors, the interaction of the Investors in the project chat room will cease.

14.5. The Platform Operator has the right to suspend the Investor's participation in the Chat for posting inaccurate information, using obscene language and/or posting information that defames the honor and dignity of the Platform clients, the Platform Operator and/or other persons.

15. How to use the mobile app

15.1 The relevant information on how to use the mobile application is placed on the Platform, in the Mobile Application section (in case of use of such an application).

16. Actions that may be taken by the Investor in case of default by the Borrower

16.1. The Platform Operator will use the technical means of the Platform to monitor overdue payments that have become due and to inform the Borrower about the need to make payments according to the Repayment Schedule, by sending SMS messages and/or notifications to the e-mail address specified by the Client when registering on the Platform.

16.2. In the event of late payment according to the Repayment Schedule of the Repayment Schedule in the Equity Finance Agreement concluded with the Borrower by more than 1 (one) calendar day, in order to prevent further increase of the overdue debt, the Platform Operator shall remind the Borrower of the overdue payment, its term and amount, as well as the consequences of non-compliance with the payment obligations under the Equity Funding Agreement, place the relevant information in the Customer (Borrower) Profile to prevent further increase of the overdue debt, by means of e-mail notification, SMS notification and/or telephone notification. In addition, in order to inform the Borrower, the Platform Operator has the right to use any other available means of communication and personal negotiations with the head and/or founders of the legal entity, or the Borrower - natural person, sole proprietor.

16.3 Starting from the first day of late payment, the Platform Operator may charge a penalty of the loan amount (principal) for each day of delay.

16.4 In the event of a breach of the payment deadlines according to the Repayment Schedule, starting from the day following such delay, the Borrower may be obliged by the Platform Operator to repay the full amount of the Loan Amount (principal) and to pay accrued interest and penalties, as provided in the Participant Finance Contract. In this case, the Borrower's obligation to repay the full Amount of the
Loan (principal) may arise automatically, regardless of the claims/claims of the Investor.

16.5. The Platform Operator may recover outstanding amounts arising under the Participating Financing Agreement, as well as under the Guarantee Agreements, on the basis of the mandate clause of the Participating Financing Agreement or the mandate agreement (or power of attorney).

16.6 By accepting the Rules of the Platform, the Investor also accepts the procedure necessary for the enforced recovery of the claim.

16.7. The Platform Operator has the right to take the actions it deems most appropriate and useful to ensure the recovery of the claim.

16.8 In the event of any discrepancy between the provisions of these Rules and the Participatory Grant Agreement, the provisions of the Participatory Grant Agreement shall prevail.

17. Marketing strategy

17.1. The marketing strategy focuses predominantly on providing loans to real estate developers, with real means of securing the enforcement of obligations. Information on the platform, including advertising is in three languages: Romanian, Russian and English.
17.2 The following marketing mechanisms (tools) are used:  

17.2.1. Public communications (PR) and offline activities:

17.2.1.1.1. PR at events: participation in business forums, exhibitions, conferences to draw attention to the platform and to establish relationships with potential customers.

17.2.1.2. Organize your own events: meetings and presentations aimed at companies and investors to create opportunities for direct contact with the target audience.

17.2.1.3. Publications in business media: articles and analysis on crowdfunding and investment opportunities to build an image as a secure and professional platform.

17.2.2. Digital marketing and media collaboration:

17.2.2.1. Social networks: presence and promotion on Facebook, Instagram, LinkedIn, etc., with regular updates on projects and investment opportunities.

17.2.2.2.2. Advertising and targeting: advertising campaigns aimed at attracting investors and developers/developers/consumer-consumers through targeted advertisements.

17.2.2.2.3. Content marketing: managing a blog and publishing informative material on equity crowdfunding, investing and economics to build reputation as an expert.

17.2.3. Partnership programs and working with opinion leaders:

17.2.3.1. Collaboration with opinion leaders: engaging business experts to promote the platform through articles and opinions.

17.2.3.2. Involvement of bloggers: raising awareness of the platform through articles and videos by influential bloggers on YouTube and social networks.

17.2.3.3. Affiliate program: developing programs for partners who provide referrals and attract new customers.

17.2.4. Loyalty programs and bonuses:

17.2.4.1. Loyalty programs: reward and bonus schemes for active investors who attract funds through the platform.

17.2.4.2. Referral program: encouraging customers to attract new customers through bonus rewards.

17.2.4.3. Corporate client programs: special offers and bonuses for corporate clients and large investors.

17.2.5. Educational and informative initiatives:  

17.2.5.1. Webinars and workshops: organization of regular educational events on participatory finance, investment and financial management to increase customer awareness.

17.2.5.2. Training and training materials: creating video content, articles and training sessions for investors and developers to increase their skills and confidence in the platform.

17.2.5.3. Videos and infographics: developing visual content to explain complex financial and investment processes in a simple way.

17.2.6. Technological solutions and expanding capabilities:

17.2.6.1. Mobile application: development of an application for easy access to the platform and extension of functionalities for customers.

17.2.6.2. International promotion: participation in international exhibitions and forums, as well as the development of versions of the platform in other languages to attract foreign investors.

18. Procedure for approval, acceptance and modification of the Platform Rules

18.1 The Platform Rules and any amendments thereto are approved by the Company.

18.2. In order to develop the services and their better and safer use, the Company Operator has the right to amend the Platform Rules at its sole discretion. The changes made shall be recognized and applied by the Parties/Clients, subject to conditions:

18.2.1. Clients will be informed through the Platform about changes to the Rules. Changes and amendments will enter into force within 14 days from the date of notification or publication on the Platform.

18.2.2 In case of disagreement with the amendments and subsequent modifications, the Client has the right to withdraw under the terms of these Rules. After 14 days from the moment of notification or publication on the Platform, the amendments shall be deemed to have entered into force and accepted by the Client.

18.2.3. The amendments shall not apply to relationships between clients and the Platform Operator that arose prior to the entry into force of the amendments.

18.3. These Rules for using the Platform are valid for all transactions and legal agreements concluded between Clients and the Platform Operator and when using the Platform.

18.4. Publication of Rules:

The Rules are published in electronic format by copying a file containing an electronic image of the Rules in text format to the Platform.

18.5. The present wording of the Rules for the use of the Platform shall enter into force as of the date of issuance of the authorization decision and registration in the Register of the providers of participatory financing services, established and maintained by the Supervisory Authority.