Rewards Terms

1. INTRODUCTION

1.1  These terms and conditions (the “Rewards Terms”) set out the terms on which each User of the Rewards Services uses such Services.

1.2  These Rewards Terms are part of the User Terms and should be read in conjunction with the other applicable documents making up the User Terms in particular the Website Terms and the Privacy Policy.

2. DEFINITIONS

2.1  Capitalised terms not otherwise defined herein shall have the meaning given in the other documents that make up the User Terms.

2.2  The following capitalised terms used herein shall have the following meanings:

  • Campaign Closing Date: the date set by Crowd2Fund by which the Campaign must reach the Target Amount. Crowd2Fund may extend this date in its sole and absolute discretion
  • Reward: goods or services that are provided to Supporters in return for Support Contributions to a Campaign. Rewards are offered from the Campaign Creator and are not underwritten, verified or endorsed by Crowd2Fund or any of its staff.
  • Supporter: a person who wishes to make a Support Contribution to a Campaign. Support Contribution: a pledge of money or services to the Campaign Creator by a Supporter.

3. SUPPORTING A CAMPAIGN

3.1  If a Supporter wishes to support a Campaign, its may make a Support Contribution:

  • (a) where no mandatory amount for any Support Contribution is set out in the Campaign Description, in any amount in excess of the Minimum Contribution; or
  • (b) where a mandatory amount for any Support Contribution is set out in the Campaign Description, in any amount which is an exact multiple of such mandatory amount.

3.2  In order to make a Support Contribution, the Supporter must ensure that its Wallet contains funds at least equal to the Support Contribution.

3.3  When the Supporter makes a Support Contribution, the Support Contribution shall be transferred from the available funds in its Wallet to the Crowd2Fund Escrow Wallet.

3.4  In the event that the Target Amount is met on or before the Campaign Closing Date, the Support Contribution shall be credited from the Crowd2Fund Escrow Wallet to the Campaign Creator’s Wallet.

3.5  In the event that the Target Amount is not met prior to the Campaign Closing Date, the Support Contribution shall be credited from the Crowd2Fund Escrow Wallet back to the Investor’s Wallet.

3.6  Making a Support Contribution to a Campaign does not grant any Supporter any rights, title or interest in any Campaign or any Campaign Creator. For the avoidance of doubt, this means that a Supporter does not become entitled to any share or profit share in any Campaign and is not granted any right to use, exploit or licence any Intellectual Property Rights owned by the Campaign Creator or any third party in the Campaign.

4. REWARDS

4.1  Campaign Creators offer Rewards to their Supporters.

4.2  Campaign Creators are not permitted to offer or provide any of the following as Rewards:

  • (a) any share, security, debenture, loan note or other debt or ownership interest in any company, partnership or other incorporated or unincorporated entity;
  • (b) any money, monetary compensation or item or instrument that can be readily converted into money;
  • (c) any weapon, ammunition or related item;
  • (d) any alcohol, tobacco product or other controlled substance;
  • (e) any illegal drug, substance or drug-related paraphernalia;
  • (f) any pornography, sexually explicit or suggestive item, image of any child aged less than 18 years of age or other similar material which is unlawful or may be considered offensive;
  • (g) any item which is unlawful to possess or distribute in any jurisdiction in which the Campaign Creator are based or in which a Supporter would receive such item;
  • (h) any item which infringes or violates the intellectual property rights of a third person; or
  • (i) any item that is stolen.

4.3  In the event that a Campaign meets the Target Amount, the Campaign Creator undertakes and agrees to provide the Rewards to Supporters of the Campaign in the manner and within the timescale detailed in the Campaign Description.

4.4  Any delivery and distribution costs in relation to the delivery of Rewards shall be the sole responsibility of the Campaign Creator. For the avoidance of doubt, a Supporter shall not be required to make payment of any amount in excess of its Support Contribution.

4.5  Where the Campaign Creator needs further information or in order to deliver any Reward to a Supporter, the Campaign Creator shall contact the Supporter directly using the email address registered by the Supporter with Crowd2Fund. The Supporter undertakes to respond to any such communication and to provide the requested information promptly and accurately.

4.6  The Campaign Creator shall not be required to deliver any Reward to a Supporter who has not responded to any request for further information sent in accordance with clause 4.5 within a reasonable period of time.

4.7  Supporters shall have no right to cancel their Support or request a refund of their Support Contribution in any circumstances. In the event that the Supporter does not receive any Reward in the manner and within the timescale detailed in the Campaign Description, subject to the Supporter having complied with its obligations set out herein, he should email Crowd2Fund at support@crowd2fund.com.

5. SALE OF GOODS WEBSITE DISCLAIMER

5.1  The provision of a Reward does not constitute the sale of goods for the purposes of the Sale of Goods Act 1979. Any Reward is provided for no consideration and a User has no right to a refund or to cancel any Support Contribution made in the event that it does not like any Reward and/or any Reward is defective.

5.2  In many cases, Rewards may be prototypes and may not be fully operational products or services. There may be limitations to functionality and/or usage of any Reward.

6. FORMATION OF CONTRACT

6.1  By posting a Campaign on the Website, the Campaign Creator agrees, if the Target Amount is met before the Campaign Closing Date, to provide a Reward to any Supporter in exchange for a Support Contribution.

6.2  Rewards are offered from the Campaign Creator and are not underwritten, verified or endorsed by Crowd2Fund or any of its staff.

6.3  Crowd2Fund is not a party to the contract between the Campaign Creator and the Supporter.

6.4  Crowd2Fund are not party to, and shall not be held responsible for, transactions, agreements and/or disputes between Supporters and Campaign Creators in connection with the delivery of Rewards.

6.5  The payment processor(s) that Crowd2Fund use are not party to, and shall not be held responsible for any transaction, agreement and/or dispute between Supporters and Campaign Creators in connection with the delivery of Rewards.

6.6  The Campaign Creator will use reasonable endeavours to deliver all Rewards within the period set out in the Campaign Description.

6.7  The Campaign Creator shall keep Crowd2Fund and the Supporters updated on any delays in delivery of the Rewards.

7. CROWD2FUND FEES

7.1  Crowd2Fund shall be permitted to deduct from the aggregate Support Contributions remitted to the Campaign Creator in accordance with paragraph 3 above, the Crowd2Fund Fees.

7.2  Crowd2Fund shall be permitted to deduct any VAT and/or other applicable sales taxes chargeable in respect of the Crowd2Fund Fees.

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