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Terms and Conditions

 

Terms and Conditions

Introduction

BeeezCrowd.com is an electronic platform for crowd funding with the shares participation system and digital partnership, the platform connects investors who wish to invest and microfinance in micro, small, medium and startup companies that wish to obtain financial liquidity in order to expand, increase capital and keep working or start a business in exchange for a proportion in the Fundraiser as shares. We provide these terms and conditions to govern and regulate the legal relationships between the “BeeezCrowd” platform and its users, so please read these terms and conditions contained herein thoroughly before using the platform as an investor or Fundraiser through the platform.

 

(1) Definitions

"BeeezCrowd", "platform", "we" or "our" refers to www.ontest.com website in the Hashemite Kingdom of Jordan and is owned by a Fundraiser legally and officially registered in the Hashemite Kingdom of Jordan.

"User", "you" or "your" refers to the person who uses “BeeezCrowd” platform, visits it as an investor or Fundraiser, or visits the content available through the platform.

"Investor" refers to any legal person or natural person.

"Fundraiser" refers to every Fundraiser (micro, small, medium and startup companies, entrepreneurs and the projects wishing to obtain additional funding) registered in the platform and launch a funding campaign to obtain the necessary fund in exchange for obtaining a share in the Fundraiser in the form of shares via the platform in accordance with the terms and conditions of the platform. 

"The share" refers to the proportion that companies offer to relinquish it to investors in exchange for the funding required via the platform, and the share value is specified by the Fundraiser and is linked to the value of funding.

"The stock” or "The share " and in plural "shares" or "stocks" are the units that as a whole form the share, they form the investment unit in the platform and the value of the investment unit in the funding campaign is specified by the Fundraiser holding the campaign. The investor can invest in any number of shares not more than the maximum limit explained and specified by the Fundraiser holding the campaign. At the end of the funding campaign, the share of every share of the shares of the Fundraiser will be calculated in percentages.

"Bonus shares" are free shares that the Fundraiser holding the funding campaign gives the investor two shares in for each investment unit (one share) the investor contributes with it to support the funding campaign, expressing their gratitude and thanks to the investors in supporting the  funding campaign of the Fundraiser and to achieve the principle of digital partnership between the Fundraiser and investors, and these bonus shares have the same characteristics and features of the investment units under investing (common shares) and form as a whole with the common shares the shares in the Fundraiser.

"Digital Partnership" refers to a new principle and system of the crowd funding with the shares participation system lies in the Fundraiser holding the funding campaign grants to the investor via “BeeezCrowd” platform two free shares as a bonus for each investment with an investment unit (one share) that the investor invests with it contributing to the support of funding required by the Fundraiser through the funding  campaign through the platform, and with the same features, rights and characteristics of common investment units (the common share) including the possibility of canceling/reducing the volume of investment, in an expression of gratitude and thanks to the investors in supporting the funding campaign of the Fundraiser. In general, the goal of digital partnership expands to pursue growth for companies, investors and the national economy.

"Laws" refers to the laws applicable in the Hashemite Kingdom of Jordan.

 “Accredited Investor” & “Non-accredited Investor”: have been defined and classified as per below table. This classification is subject to ongoing review and modifications by BeeezCrowd platform. However, the investor is responsible for selection he / she / it makes considering disclosed risk factors including adversely affecting his / her /its financial position in case total lose. Please read risk factors mentioned below herein.  

 

Type of investor 

Type of Accreditation 

Criteria adopted for Eligibility of Accreditation

Natural Person (Individuals)

 

 

 

Non-accredited

The investor would be subject to an investment limit that is Jordan Dinars (J.D) Ten Thousand 10,000 or USD Fifteen Thousand 15,000. (or equivalent amount in other currency) during a (12) months period. 

Accredited

The investor would be subject to an investment limit that is Jordan Dinars (J. D) Four Hundred Thousand 400,000 or USD Five Hundred Seventy-Five Thousand 575,000 (or equivalent amount in other currency) during a (12) months period.   

 

 

(2) Introductory Provisions

  • The site shall work as an online platform intermediate for linking the investors on one hand and the companies on the other hand.
  • This agreement shall be deemed to be the entire and final agreement between “BeeezCrowd” platform on one hand and any person visiting or using the platform or any of its features or advantages on the other hand.
  • The description of the services and the subsequent pages of the platform prepared by the platform “BeeezCrowd” shall form an integral part of this agreement.
  • The amendments of this agreement shall have the same legal provision and effect of this agreement.
  • You know of and agree on the exemption of the platform “BeeezCrowd” from any liability arising from the acts of third parties. Whether he is a user, investor or Fundraiser etc. 

 

(3) Services

  • Beeezcrowd.com is an electronic platform for crowd funding with the shares participation system and digital partnership, the platform connects investors who wish to invest and microfinance in micro, small, medium and startup companies that wish to obtain financial liquidity in order to expand, increase capital and keep working or start a business in exchange for a proportion in the Fundraiser as shares.
  • The principle of the platform's work is based on opened the door for micro, small, medium and startup companies, entrepreneurs and the projects who wish to obtain additional funding for expansion, purchase of equipment, start a business, or open a branch or other legal uses of funding by launching this as a campaign on the platform in order to open up the space for participation and contribution before a largest possible number of individual investors, even companies or investment funds that wishes to diversify their investment fields with minimal risk through investing in small amounts of money.
  • The platform always attempts to make available its electronic services in the ideal way and uses in this regard all the tools, equipment, devices, programs and the means of protection necessary for making available the services in addition to taking all the necessary legal procedures. 
  • The platform doesn’t guarantee that the services or part of them work on all computers or mobile phone. Also, for the devices on which the platform works, there might be a delay or breakdowns due to a breakdown in the internet. Consequently, you exempt us from liability therefore.
  • We may at any time make modifications or improvements as we consider appropriate and necessary for increasing the efficiency of the platform or responding to any legal or regulatory requirements. The user shall be bound with any directions or instructions provided by the platform to him in this regard.
  • We shall be entitled at any time to cancel all or some of the services we provide. 

 

(4) Capacity and Consent

You declare that you have the legal capacity necessary for concluding and accepting this agreement and with your use of the services of “BeeezCrowd” you agree on this agreement and you declare are that you are legally bound by the terms and conditions provided for in this document or its amendments.

 

(5) Fundraiser registration conditions 

  • It shall be stipulated that the Fundraiser registers in its trade name in the platform not unknown, untrue or misleading names and once you register as a Fundraiser, you acknowledge that you are the legal representative of this person. 
  • The Fundraiser shall provide us with the data of registering the membership that might include among other things (Name, Commercial register, National identity card, Address, E-mail, Mobile Phone No.).
  • The Fundraiser must register membership in BeeezCrowd platform with its mobile number and email, so that it can receive any notifications sent to it from BeeezCrowd platform, as well as from shareholders with share certificate holders.
  • Any Fundraiser is forbidden to register on our platform with more than one account and we will delete all accounts if we found that out.
  • The Fundraiser must maintain his username and password, and not disclose them to others, and in all cases the Fundraiser is committed to all the transactions made through his account on the platform.

 

(6) Fundraiser registration conditions

  • The investor can register his account on the platform that allows him to have many different features and services such as (subscription and contribution to fund the funding campaigns put forward on the platform and obtaining shares in return, reviewing the record of previous investments).
  • To register on the platform, the investor must provide us with the following data (the first name, the last name, the email, mobile number).
  • The investor must register in BeeezCrowd platform with his mobile number and email, so that he can activate the account and receive any notifications sent to him from BeeezCrowd platform.
  • Any investor is forbidden to register on our platform with more than one account and we will delete all accounts if we found that out.
  • The investor must maintain his username and password, and not disclose them to others, and in all cases the investor is committed to all the transactions made through his account on the platform.
  • The registration of an account on the platform is considered a licensing system for use, and therefore we have the right to withdraw this license and cancel the account at any time in case of violation of the terms and conditions of this agreement and the platform’s policy and laws without giving any reasons.

 

(7) Terms of Use

  • Funding campaigns are displayed through the platform in accordance with the laws applicable in the Hashemite Kingdom of Jordan, and therefore you abide by these laws regardless of the country to which you belong.
  • The user must be legally qualified to enter into this Agreement with us and he must be 18 years and older at the time of using our platform.
  • Any information required must be entered on the platform correctly and you must be responsible for it, its recency, quality, and legality, and you are obligated to update it whenever any change occurs.
  • The platform must be used legally and in accordance with the objectives and purposes declared by our part, and that this use should be serious and the users shouldn’t use the platform for the purposes of fraud, scam, illegal communication, fake communication, harming to any party or with the aim of money laundering.
  • The user must notify us in case of finding out any illegal practices or activities through the platform.
  • The user must maintain the reputation of the platform, not to offend the platform directly or indirectly, does not cause us direct or indirect damages, and does not cause us any legal claims.
  • The reviews and comments provided by the investor through the platform must be honest and legal and do not include any amendment to the platform, companies or other entities.
  • The content provided by the user through the platform must be legal and does not include any assault on the rights of others.
  •  “BeeezCrowd” platform reserves the right to make any modifications or changes to its platform and to policies and agreements associated with “BeeezCrowd” platform including terms and conditions.

 

(8) Limitations of The Use

 

  • The platform must be used within the purposes declared through these terms or those declared through the pages of the platform, and that our services should be used in good faith and not to manipulate the platform or its investors in any way.
  • The platform must be used legitimately and legally, and that exercising any actions that expose the platform to the legal accountability must be forbidden.
  • It is forbidden to resell or commercially exploit any part of the platform, or profiteering from this, except for activities permitted by us.
  • The platform reserves all its legal rights in the case that any user of the platform violates our legal, legitimate rights or our rights enshrined in this agreement.
  • Texts, drawings, photographs, logos, illustrations, explanations, data and other materials provided by us on or through the services of “BeeezCrowd” platform in addition to its selection, compilation and arrangement that may contain errors, omissions, typographical errors or to be outdated, and the platform may change, delete or update any content at any time without prior notice.
  • The content is provided through “BeeezCrowd” platform for information purposes only, and for the purposes of providing our services exclusively, and it should not be dedicated for any content, platforms or bodies that are not ours.

 

(9) Terms and Conditions of Using the Service of the platform by Fundraiser:

 

  • The platform targets the companies inside the Hashemite Kingdom of Jordan, however, the platform allows companies in other foreign countries to use and benefit from the services of the platform, provided that that the platform is not responsible for the laws, regulations or instructions applicable in the foreign county pertaining using the platform for the purpose of obtaining finance, and in the case of submitting a request for funding   through the platform, the Fundraiser exempts the platform and completely releases its responsibility from any legal responsibility and the Fundraiser is responsible for obtaining the amount of funding by legal means.
  • The Fundraiser guarantees that it conducts its businesses in compliance with applicable laws, regulations and ethically, and that has properly obtained all the legal and official permits and licenses necessary to conduct its businesses, and to enter with the investor in this agreement. Also, the Fundraiser undertakes to keep all documents and records proving compliance with above mentioned requirements.
  • The Fundraiser guarantees that it has all the rights, legal powers and capacities of the owners and shareholders of the Fundraiser to obtain funding and waive a share of the Fundraiser's ownership to the investors through the platform in exchange for obtaining the necessary funding.
  • Authorized signatories/s representing the Fundraiser is/are properly has/have proper authorization by the board of directors or the owners to open account on the platform, operate, request funding and other powers to obtain the requested finance and manage it. The platform however would request documents proving this authorization such as bylaw, board’s decision that authorizes specific person/s to act on behalf of the Fundraiser in this capacity.
  • The Fundraiser guarantees not to publish any false, inaccurate, incorrect or misleading information about its activity, performance, evaluation and purpose of obtaining the requested fund, and that the purpose of obtaining requested fund must be only for the disclosed purposes which must commensurate with the applicable and implementing laws, regulations, instructions by competent authorities. 
  • Fundraiser Companies must provide supporting documentation that would include: 

Article of association, bylaw that includes capital, owners/shareholders and their percentages, valid decision showing authorized signatories, financial statements (balance sheet, income statement, cash flow), business plan or any other documentation the platform sees necessary to be provided or complying with laws, regulations, instructions issued by the competent authorities either currently applicable and implementing or changes and updates occurred thereafter.  

 

  • Fundraiser agreement Fundraiser Companies seeking to obtain funding must fill in certain required information about the Fundraiser and the funding required, and then submit a request to publish its campaign pending on meeting all requirements and the platform approval, shall the campaign obtain the proper approval by the platform, it shall go live and be effective then.

 

  • The fundraiser is obliged to renew its licenses / registration as required by the competent authority/ies the regulate their businesses and it bears the legal responsibility in case of failure to renew licenses or to meet any governmental, legal. regulatory requirements. 
  • The issuer / fundraiser companies are obliged to disclose the Fundraiser's fiscal year and the dates of the distribution of dividends annually if achieved, as applicable. Also, the companies are obliged to distribute dividends on time as scheduled announced, if already announced by the Fundraiser that it is planning to distribute dividends and in case of the Fundraiser's failure, it bears the responsibility and compensation against the investor and the platform doesn’t bear any legal or moral responsibility.
  • Companies must provide a report of the Fundraiser’s fair value of the Fundraiser based on the assessment methodologies mostly accepted and adopted. The Fundraiser would seek the services of professional services render such Fundraiser’s valuation. 
  • Launching a campaign of funding by the Fundraiser in exchange for shares in the Fundraiser on the platform serves as a legal offer, with the waiver of these shares to the investors funding the campaign once the investor accepts the investment and contributes to fund the Fundraiser's campaign and the campaign's obtaining funding and achieving success.

once the campaign is properly launched, the Fundraiser acknowledges its acceptance to all terms and conditions and its compliance with all applicable and implementing laws and regulations, and shared sold to the investors constitute a legal ownership of the shares /equities for their funding the campaign.  

  • The Fundraiser guarantees that all the provided information, photos and files, documents, reports are correct, complete, accurate, valid, not misleading and legal.
  • The Fundraiser warrants that offered shares are free of any kind of restrictions, liabilities that would restrict the investor legal ownership of the sold shares. Such any restrictions or any valid claims from financial institutions or others are there, it must be properly and timely disclosed prior to launch the campaign. 
  •  
  • The Fundraiser guarantees that no any rights of others is attached to the shares displayed in exchange for obtaining the necessary funding via the platform, and that they must be delivered to the investor funding the campaign free of any financial liabilities, and are not loaded with any personal or in-kind rights.
  • The Fundraiser undertakes to keep investor’s information confidential and does not disclose unless necessary during normal conducting of its business with third party services providers or as required to comply with laws, regulations, instructions or by judge order. In addition, the Fundraiser must comply with the platform's privacy policy as well.   
  • Fundraiser All funding campaigns on BeeezCrowd platform for crowd funding with shares participation system and digital partnership is adopting a flexible model campaign:
  • The definition of the flexible campaign: The funding campaign is considered to be successful if it achieves any amount at the end of the campaign period and the amount will be transferred to the banks account of the Fundraiser at the end of the campaign's period. Also, the shares corresponding to the amount of funding will be recalculated according to the value of funding obtained based on the shares put forward against the value of the funding relatively targeted of the Fundraiser.
  • Companies must specify the period of the campaign and the campaign is considered to be terminated in case the required funding is achieved or if it expires.
  • The Fundraiser bears full legal responsibility in case of committing any fraudulent practices, cheating, misleading, inaccurate, incorrect, invalid, presentation of forged papers or documents, or circumventing the platform or investors in any way.

 

(10) Terms and Conditions of Investors

  • The investor must be legally qualified / eligible to able participate to fund the funding campaigns of companies through the platform without affecting his legal financial position. 
  • The investor must create an account on the platform in order to be able to invest in the funding campaigns of companies Fundraiser electronically (digitally / online) through the platform. 
  • In order to start investing via the platform, the investor must complete the data specified by the platform, and in order for the investor to be classified “accredited investor”, the investor must complete some additional information to be eligible to be classified as “accredited investor”. this information will be checked by the platform in order to determine investor’s eligibility to be “accredited investor”.
  • The "accredited investor" option provides the following: 
  • Investing in campaigns available to accredited investors only.
  • The investment limit for accredited investors is higher than that of unaccredited investors.
  • The investor should thoroughly review the information and details of the funding campaigns advertised via the platform before taking decision to contributing to fund the funding campaign of the Fundraiser selected Fundraiser. 
  • An electronically issued certificate that proves ownership of the sold shares containing his full name, number of shares, value of shares, percentage of his ownership in the company. This certificate will be issued for each investor after successful closure of the campaign and sent to the investor’s email address registered at the platform.
  • The investor must follow all the provisions that are stipulated in this agreement and must comply with the applicable and implementing law, regulations and instructions issued by the competent authorities.
  • The investor will participate to fund the funding campaign of the Fundraiser on his own responsibility without the platform providing any additional guarantees or pledges other than stipulated in this agreement.
  • The investor exempts “BeeezCrowd” platform from any liability arising from the provision of services to it, including any personal conducts occurs during the contacting process.
  • The investor is committed to comply with all policies adopted by the platform, and the investor knows and acknowledges that they regulate the relationship between him and the platform.
  • The platform has the right to cancel the investor's account with the platform at any time if found that the investor has violated any of the terms and conditions stipulated in this agreement or that the investor provides false information or abuses us in any way.
  • The investor guarantees the sources of funds he provides through the platform and that they are legitimate, legal, and not associated with money laundering, illegal trade or otherwise.

 

(11) Investment limits

  • The platform aims primarily at investors diversifying their investments and investing in small amounts in companies, projects and funding campaigns advertised on the platform. 
  • The responsibility is within the amount of the investment allocated in exchange for contributing to fund the funding campaigns of the companies and in return obtaining shares in these companies in the form of shares, and does not extend to any other assets or property of the investor. 

 

(12) Management of companies

  • Investors has no right to participate in the management of the Fundraiser, or to vote in any of the Fundraiser's general or extraordinary meetings (Non-voting Share) except the right of getting dividends distribution, if and when sufficient profits are achieved and announced by the Fundraiser that dividends will be distributed.
  • The Fundraiser bears all legal responsibilities in case of managing the Fundraiser in violation of the law or in a manner that harms the Fundraiser or the investors through the platform, without the slightest legal responsibility on the investor.
  • Companies are prohibited from making any decisions on purpose with the aim of reducing the Fundraiser's evaluation or the proportion of investors' shares through the platform, resulting in losses and harm to investors through the platform, except in the case of the capital and additional funding raise in exchange for a spike in the evaluation of the Fundraiser.

 

(13) Risk

There are risks that you should be aware of if you wish to invest in an offer provided by a Fundraiser on our platform website.

You are strongly advised to read through the risks listed below in order to help you make an informed decision.

    HIGH RISK OF LOSING ALL MONEY

    Most of the Issuers/Fundraiser are startups or companies at their early stages or small and medium enterprises ("SMEs"). Investing in these entities may result in significant gains due to their business potentials and business opportunities. However, they are relatively risky ventures and there is a high risk of business failure due to lack of substantive operating history. Therefore, you may end up losing all the money you invested.

    The growth and survival of a Fundraiser will partially depend on the ability of its directors / promoters to maintain and promote the business. In the event the directors / the promoters fail to carry out their obligations, you may also end up losing all your investments.

 

    RISK OF ILLIQUIDITY

When you want to dispose of your shares and/or exit the Issuer/Fundraiser you invest in, the exit options are limited. The Issuers are private companies hence there is no public market available for the shares unless the Issuer becomes a public listed Fundraiser, or when the Issuer is acquired by another Fundraiser. However, all these events may take a number of years and it will be difficult for you to cash out or exit in the short term. “BeeezCrowd” however, grants the investor an advantageous option to cancel or reduce his investment volume as per “Cancellation / Investment Volume Reduction Policy” stipulated in the terms and conditions posted on the platform website. 

    RISK OF NO RETURN 

As discussed, the Issuers are mostly startups or at their early stages or SMEs. The return in the manner of dividends and/or profits may take a number of years to materialize. In most cases, the Issuers/Fundraiser may opt to not distribute dividends and/or profits. Profits, if any, are most likely reinvested back into the Issuers. Therefore, if you wish to materialize your returns in the short term, ECF may not be your most ideal choice.

    RISK OF DILUTION OF SHARES

The Issuers that manage to grow their businesses are likely to raise more capital. When new shares are issued, your shareholding percentage will be diluted, i.e., your digital ownership of the Fundraiser will reduce. It may not necessary be detrimental to you as your shares may be more valuable if the Fundraiser’s valuation increases after several funding rounds. However, in some cases, due to the nature of Issuers/Fundraiser, the shares are diluted in both valuation and percentage.

Dilution of shares may also occur in the event an Issuer/Fundraiser grants its shares to its employees through employee share option schemes or any other similar methods.  

 

    LACK OF CONTROL OF THE FUNDRAISER

The investor shall not have any right pertaining to: 

  • Issuer/Fundraiser management and decision making.
  • Voting rights or attending ordinary or extraordinary meetings. 

You are advised to read the terms listed on our platform Website in regard to an offer you are interested in to understand the rights granted by an Issuer/Fundraiser to you. 

PAST PERFORMANCE AND FORECASTS

Past performance and forecasts are not reliable and shall not form a guarantee of future investment performance. Therefore, you shall always conduct necessary assessments to make an informed investment decision. 

    LACK OF INFORMATION

The Issuers/Fundraiser are expected to provide general information of their offers on our platform Website to the Investors. However, there is no statutory obligation placed on the Issuers/Fundraiser that they must provide you with all business, financial and all other information as required by you. Therefore, there is a risk that you might not be able to conduct accurate and full assessments in regard to an offer you are interested with. 

    OTHER RISKS

    All transactions and/or payments made on our platform Website shall be in Jordanian Dinar (JD) unless agreed and specified otherwise. If you are an Investor, and you make payment through an overseas account, the money you pay will be subject to the exchange rate at that particular time and taxes, if applicable. As a result, your investment amount, after being converted into Jordanian Dinar (JD) may differ from the original amount. Any loss arising from this Clause shall be your own risk and we shall not be liable whatsoever.

 

(14) Money laundering

The platform is prohibited from being used or the investment processes through it for money laundering and financing terrorism activities, and the competent authorities in the Hashemite Kingdom of Jordan have the right to check any activities carried out through the platform, and the platform will provide any information required by the competent authorities, whether about investors, companies or processes carried out through the platform.

 

(15) Prohibited activities

  • Companies, request for funding processes, launching funding campaigns, and waivers of stakes in companies in exchange for obtaining the necessary funding must be legal, and it is prohibited to use the platform for illegal purposes, including funding of terrorist activity.
  • Companies must engage in its activity legally, and any of the companies launching the funding campaigns available through the platform are prohibited from engaging in any illegal activities.
  • It is prohibited to sell, display, rent or license any illegal substances, products, services or other sorts of things, including prohibited narcotic substances, arms trade and human trafficking.
  • Carrying out of any scam, forgery or other illegal crimes or acts are prohibited via the platform.
  • It is prohibited to carry out any acts that directly or indirectly contradict with the applicable laws, regulations or instructions 

 

(16) Communication and distribution of profits and losses

  • The communication between the investor and the Fundraiser is done directly without interference from the platform, and the platform will provide the Fundraiser with a list of investors who are shareholders in the Fundraiser, the number of their shares, addresses and any basic data about them.
  • In the case of distribution of profits or exits from the Fundraiser in companies that have launched a funding campaign in exchange for obtaining stakes in them through the platform , the platform is not ultimately responsible for the fact that shareholders investors with shares in these companies receive their proportion of these profits/exits, and the relationship is directly between them and the companies in which they invested through their contribution to fund its funding campaign through the platform in order to collect these profits/exits , which are legally required to be according to the proportion of their shares of the total shares of the Fundraiser, knowing that the profits are distributed according to the Fundraiser's financial year in case that been approved by the management of the Fundraiser, and it varies from one Fundraiser to another.
  • In case of losses or bankruptcy in the Fundraiser obtained funding through the platform, the investor who obtain stakes in the form of shares through the platform does not receive any greater loss than the value invested in funding, and he will not be required to bear any additional amounts legally, while retaining his ownership of the shares in any case, while emphasizing that the platform doesn’t bear any  responsibility for this, which has been explained in advance and pointed out in the risks of crowdfunding with shares system.

 

(17) Cancellation / Investment Volume Reduction Policy:  

The investor has the right to cancel or reduce the volume of his / her / its investment in a crowdfunding campaign but before the investor’s confirmation and paying / transferring the amount invested in the campaign via the platform to the issuer's/fundraiser bank account provided that the investors then waive his/her/its entitlement to obtain bonus shares. 

Investment in crowdfunding is a non-refundable policy that mostly all equity-based crowd funding platforms follow, but however and in order to grant the investor an advantageous option to cancel or reduce the volume of the invested amount in a crowdfunding campaign, including bonus shares, stipulated that:

1-   The campaign is still operative and effective.  

2-   This advantageous option must match with other investors’ request/s seeking to invest in the same crowdfunding campaign, if such matching occurs and accepted by the platform, then the designated volume of cancelled or reduced shares will be automatically transferred to the new investor/s. This process is done automatically based on precedency / seniority (First in First Out) in accepting requests for cancellation or reduction, once this process is done, a (42%) of the value of each investment unit (the value of one share), including bonus share, that has been cancelled or reduced, will be returned to the investor's digital balance. 

The investor can properly apply digitally (online via the platform) specifying the number of shares that he/she/it wishes to cancel / reduced. 

The platform however does not guarantee that this advantageous option would be available at all times unless as stipulated and explained above.

The investor is entitled to cancel his/her/its investment in a crowdfunding campaign and get refunded before transferring the invested / subscribed amount to the issuer/fundraise Fundraiser's bank account, excluding bonus shares, if the fundraiser has committed any kind of proven fraud, cheating and misleading. 

 

(18) Fees and Payment Policy

  • The investor must pay in accordance with this payment policy adopted by us, and you know and agree that changes to the payment policy may occur from time to time.
  • The official currency in the Hashemite Kingdom of Jordan is (Jordanian Dinar) or US Dollar (USD) are the currencies adopted in specifying the value of the target funding of companies and the value of the single contribution (the share price) and investment processes by the investor through the platform.
  • The investor should view the value of the single contribution (the share price) before submitting an investment request in the funding campaign of the Fundraiser selected by him through the platform.
  • The platform provides the investor with the following payment methods (PayPal, Credit cards, Offline direct transfer to the platform's account IBAN).
  • The platform may request to pay by certain methods of payment for the purposes of ensuring the seriousness of payment.
  • Bank transfers may be charged and therefore these charges are borne by the investor.
  • The investor bears the responsibility for the whole payment process, and therefore we do not bear any errors in the payment process.
  • The investor must maintain the confidentiality of his payment data, and he must be careful to avoid using suspicious methods or unlicensed software.
  • In case of cancellation/reduction of the investment volume and according to the policy described, which will be returned to the investor's digital balance 42% of the value of each investment unit (the value of one share) that is cancelled/returned and includes bonus shares, the platform will receive an 8% cancellation/reduction fee, and a 50% will be transferred to the digital balance of the Fundraiser's campaign as a fee for obtaining two bonus shares in exchange for each share invested with and that was granted to the investor who exercised his right to cancel/reduce the investment volume.
  • The platform collects a fixed fee of 8% of the value of the collected funding, as described in the (agreement) in case of launching the funding campaigns by companies.
  • The amounts of investors and companies are kept in their electronic digital balance inside the platform, the funds are transferred upon the request submitted by the investor/Fundraiser to manage the platform by transferring the funds.
  • The amount of funding will be transferred in the case of funding campaigns after the expiry of the campaign's date specified by the companies or the collection of the target funding amount in full, and the transfer will be done to the account of the campaign owners.   

 

(19) Content Policy

  • The platform provides the content through it for the purposes of providing and displaying our services to the users and marketing the other companies through the platform.
  • The data available through the platform may include some unintentional errors, so you exempt us from any liability arising from this. Also, you undertake to contact us to inquire and request to correct any errors in the data.
  • The investor must check any content available through the platform, check its authenticity and accuracy and to conduct due diligence like the person who is keen to handle the content.
  •  “BeeezCrowd” platform doesn’t bear any legal liability arising from the content available through the platform, and you explicitly exempt us from doing so.
  • All the data available to other people, companies or investors through the platform is provided at their own responsibility without any guarantees from the platform.

 

(20) Comments Policy

“BeeezCrowd” platform allows the investors/companies who are registered in the platform to add comments through the platform, and these comments must be subject to the following terms and controls:

  • The comment must be related to the services being commented upon, and to include a description of the investor's experience with the investment process.
  •  “BeeezCrowd” platform does not accept any offensive comments that violations this agreement or violates any applicable laws.
  •  “BeeezCrowd” platform does not accept any comments that include offence to the platform, any users, companies, individuals, investors, countries, cultures, customs, traditions, norms, any investment companies, competing companies, etc.
  •  “BeeezCrowd” platform does not accept any comments that include any promotion of services or goods that are not ours, and it is prohibited to include any software, external links or content that is not related to the platform services.
  • Any means of communication of any type is prohibited from being posted through the website, and the website will delete any means of communication broadcasted through comments.
  • “BeeezCrowd” platform reserves the right to delete the comments that violate the provisions of this agreement while reserving all our legal rights and compensation.
  • Any person or entity affected by the comments provided by the investor/Fundraiser reserves all his \ its rights to appropriate compensations with all legal and judicial claims.

 

(21) Third Parties

  • The third parties may assist us in providing our services, and the platform release its legal responsibility for any direct or indirect, intentional or unintentional errors made by the third parties which provide services through the platform.
  • Terms and conditions of third parties may be applied to the user, and these are not subject to our control and therefore the user must access to and agree on these policies before benefiting from the services provided by the third parties through us.

 

(22) Intellectual Property Rights

  • The platform and all its material and moral elements are privately owned by us, and it should not be imitated, copied or re-used in any way. All the contents of the platform (content, lists, texts, images, video, symbols, numbers, letters, icons, buttons, music, data, programming codes, information) is subject to legal protection under the laws of the Hashemite Kingdom of Jordan and international conventions, and we have the right to take the legal actions in case of attacks on it.
  • “BeeezCrowd” is a trademark used by us and it should not be infringed, imitated, copied, traded illegally or used on marks or services that are not ours, and in case of an attack on that trademark, we have the right to take all the legal procedures that preserves all our commercial rights.

 

(23) Protecting information

All information and data available through the Platform are protected under the applicable laws, regulations or instructions and it is prohibited to copy information and data, use extracting information means or collecting them in any way, exploit or authorize others to exploit them without obtaining a written consent from the platform, and we reserve all our rights to compensation and legal responsibility in case of non-compliance.

 

(24) Confidentiality

  • All information about processes made through the platform is confidential and may not be disclosed to others only with a written consent of platform.
  • Confidential information includes all information not expressly advertised via the platform to the internet users, and therefore any information that reaches the investor or Fundraiser as a result of processes made through the platform is confidential, this includes working mechanisms, commissions and invested amounts.
  • The data of the parties are confidential information, so the investor may not disclose the confidential information to companies, and companies may not disclose the confidential information to investors.
  • The platform has the right to share information with other third parties, as necessary, to enable it to properly conduct its activities provided that a non-disclosure agreement shall be signed to ensure proper protection of the information for both investor and fundraiser, or as per regulatory compliance requirements or as per official judge order.   

 

(25) Legal Liability

  • Each user is personally responsible for all the actions and activities which he carries out through the platform, and the platform will not be subsidiary or solidarity responsible of any users.
  • Each user is personally responsible in case he does not comply with the commitments imposed on him under these applicable terms or policies.
  • Each user is personally responsible in case he violates the laws applicable in the Hashemite Kingdom of Jordan or the country to which he belongs, and the platform will not be subsidiary or solidarity responsible of any users.
  • The user shall bear the legal responsibility in case that he violates any of our rights under these terms and conditions, attacks on any of our rights, our ownership of the platform or any of its elements.
  • The investor shall bear all the legal responsibilities and compensations in case of providing fake investment requests or misusing the services of the platform in any way.
  • The user shall bear the legal responsibility in case of misusing the services which he obtains through the platform.
  • The user shall bear the legal responsibility in case of offending the platform in any site, application, social media, email or through any other means.
  • The user shall bear the legal responsibility in case of offending of any other person through the platform, without original, subsidiary or joint responsibility on the platform.
  • The user is obliged to compensate us for all the damages to the platform as a result of any illegitimate or unauthorized use by the user or any of his followers.
  • The user is obliged to compensate us in case of offending us, the administration of the platform, employees, partners, distributors, agents, our affiliates or any other person who belongs to “BeeezCrowd” platform.
  • In case of the breach by the companies and the investors of any of the conditions or provisions of this agreement, “BeeezCrowd” shall be entitled to take an administrative action within the platform. This action might be the suspension of membership for a time period or a permanent ban on the Fundraiser or the investor in breach. He shall not be entitled in this case to register in the platform once more except with an express consent of “BeeezCrowd”.
  • The penalties imposed by “BeeezCrowd” on the companies/investors shall not affect adversely the right of each Fundraiser/investor to take all the legal procedures he considers appropriate according to his discretion without having recourse against us and without the liability of the platform.
  • We reserve all our legal rights arising from this Agreement at any time, and that not using the right at a specific time does not mean to waive it at all other times.

 

(26) Disclaimer of Liability

  • The user releases us from the responsibility for all the illegitimate activities which are not our and may occur through the platform, the platform cannot control all the actions carried through it, and the affected must inform us to take the necessary actions towards stopping the source of the damage.
  • The platform may discontinue from time to time and it may permanently discontinue, whether for voluntary or involuntary reasons, and therefore you exempt us from any legal responsibility in case of a permanent or temporary discontinuing of the platform or any of its services.
  • The platform does not provide any type of insurance or compensations to any of its users, investors or companies, and anyone who uses the platform and its services at its own responsibility, and the platform will not be responsible to face any of the users for any reason resulting from the use of the platform or its services or apply our terms and policies.
  • The platform is not responsible for any comments or content published through it, or for any communication processes inside or outside the platform. Also, the platform is not in any way responsible for investment processes by funding a funding campaign, obtaining stakes in the form of shares and launching the funding campaigns made between investors and companies.
  • The platform releases its responsibility from the relationship between investors and companies requesting funding, in which they contributed in with crowd funding after the end of the funding campaign and the issuance of the ownership certificate of stakes in shares.
  • The platform releases its responsibility from guaranteeing or representing any content contained in the service. To name a few:

a) Guarantees relating to marketing or use for certain purposes, including (investment decisions) whether the platform is aware, has reasons of awareness or has been advised in advance in this regard.

b) Failure to guarantee any results reached or obtained through the use of a service, content or data available on the platform. Also, the content or services provided by the platform may in no way be interpreted as investment advisory or opinions on the suitability of any investment project. The content and services provided by the platform cannot be interpreted as a recommendation, marketing, induction or ratification of a particular offer to invest in securities in general. The Platform is not responsible for any investment decision based on or derived from the content, services or results derived or available on the platform. The available content is for informational purposes and cannot be work on or rely upon it alone without legal or business advice. The services were collected on the basis of past situations and should not be relied upon to predict future situations. The Platform is completely irresponsible for any loss related to content or services provided through it and resulting from contractual, delicti relationship or other responsibility, whether directly or indirectly, including but not limited to: loss of profits or revenues, or any economic or commercial loss of any decision made based on the content and services provided on the platform. 

c) lack of representation or guarantee that every content on the platform complies with the requirements and obligations stipulated in the systems, laws, instructions and regulations.

  • Determination of responsibility : The platform doesn’t bear in any way the responsibility for any direct, indirect, disciplinary, incidental or collateral damage (whether contractual, delicti relationship responsibility or otherwise other) and resulting from content or services existing on the platform, including but not limited to: damages resulting from loss of profits or proceeds, damages resulting from corrupted or lost data, damage caused by viruses and other harmful programs and data, damage resulting from networks and web pages, any damages resulting from economic or commercial losses, damages resulting from decisions made by any party depending on the service, its content or its results, any damage resulting from delay, failure, interruption or damage to any data or information sent relating to the use of the service, any damages resulting from inaccurate information, errors, forgetfulness and related to the content and services provided through the platform. In all cases, the total responsibility for crowd funding, its employees, agents and representatives regarding the content and services provided on the platform must not exceed the amounts of user fees paid for the use of the service, whether the responsibility is delictual or contractual.

 

(27) Communications and Notifications

  • The platform communicates with you from time to time through the contact details you have provided to us, and under this agreement you authorize us to communicate with you online or by telephone, and in case you do not want to receive communication from us you must notify us and we will immediately discontinue to communicate with you, but this means that our services for you may be permanently discontinue.
  • Any notifications the platform wants to notify the users with are made through their own contact details, and the user is supposed to know about with the notification once the platform sends it to him. In case that the user wants to send us notifications, this must be done through our means of communication available through the platform's pages.

 

(28) Amendments and Additions

  • You know and agree that our services may be continuously amended or updated, and our terms, conditions and privacy policy may be amended, updated or added from time to time.
  • You must review this agreement before any process you make through the platform.
  • Accordingly, you acknowledge the right of “BeeezCrowd” platform at any time and without prior notice and at its sole discretion to review these terms and conditions or impose new terms and conditions related to “BeeezCrowd” platform You bear the responsibility for periodically reviewing these terms and conditions to review any amendment on these terms and conditions, and any use or obtain of the stock or services of “BeeezCrowd” platform constitutes your consent to these reviews or additions.

 

(29) Cancellation

The platform has the right to cancel any of the services available through it, adjust the platform completely, change it or change its activity. We also have the right to cancel the terms, conditions, privacy policy and the policy of canceling \ reducing the volume of investment or replace them at any time without requiring your consent.

 

 (30) Law

The interpretation and implementation of the items of this document is subject to the regulations applicable in the Hashemite Kingdom of Jordan, and these terms are not limited to the items contained in it, but extend to include all the legal provisions regulating civil and commercial relations applicable in the Hashemite Kingdom of Jordan so far as they were a complementary rule and do not directly or indirectly conflict with the items of this document.

 

(31) Jurisdiction

The Jordanian judiciary shall adjudicate disputes arising about the interpretation or implementation of any item of this document, and in case that any item is excluded by a judicial decision, this is without prejudice to the competence of other items and that the items remain valid and productive for its legal effects unless the platform cancels the agreement.

 

(32) Agreement Texts and Language:

The agreement shall be in the Arabic language, and in the event of a difference between the Arabic language and any other language, the texts of the Arabic language shall prevail.

 

(33) Complaints

 

“BeeezCrowd” platform is committed to render excellent service to its customers who are users of the platform. We appreciate the feedback from the users of the platform because it helps us to understand their experience and expectation and helps us for how we can continue to meet their needs and expectations and improve our services. “BeeezCrowd” care about all complaints. For more information about our complaints policy and how to submit a complaint, please refer to our complaints policy.

 

(34) Contact Us

You can contact us through:

 

 

 

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