User Terms and Conditions
1. Applicability and Amendments
1.1. These terms and conditions (hereinafter the “Terms and Conditions”) regulate the legal relationship between each registered user (hereinafter the “ User ”) of the website evoestate.com (hereinafter the “Portal”) and EVOESTATE OÜ (registry code 14654604, registered address at Männimäe, Pudisoo village, Kuusalu municipality, 74626, Harju county, Estonia, e-mail email@example.com, hereinafter the “Portal Operator”), arising from using the Portal.
2. Service, Authorisation and Prices
2.2. By registering a user account with the Portal and starting to use the Portal, the User fully authorises the Portal Operator (as an agent and a representative of the User) to conclude, on behalf and on the account of the User, any and all transactions necessary for making investments via the Funding Sites on the basis of instructions issued by the User. The User acknowledges and agrees that upon conclusion of any such transaction by the Portal Operator one or more agreements shall be concluded in relation to the respective Project, to which the User shall be a party.
2.3. Any and all expenses related to the use of the Portal, including those described in Section 4.11, shall be paid by the User in accordance with the Portal’s price list: https://evoestate.com/transfers-price-list/. The Portal Operator shall debit all applicable expenses from the User Account (as defined in Section 3.1) automatically without additional authorisation from the User.
3. User and User Account
3.1. In order to use the Portal, a person must register a user account with the Portal (hereinafter the “User Account”). Only natural persons who have passed the Portal Operator’s background check to the extent that the Portal Operator deems necessary may register a User Account. The person in whose name the User Account is registered (i.e. the User) may be the registering person themselves or a legal entity whose legal representative the registering person is. A person applying for registration is required to submit to the Portal Operator any and all information the Portal Operator requests. The Portal Operator may carry out background checks of the User and the registering person to the extent that the Portal Operator deems necessary. The Portal Operator always has the right to refuse to open a User Account.
3.2. Upon registering a User Account, a person shall enter their contact information and other data required by the Portal Operator and select a unique username and password. Among other things, they shall indicate whether they wish to register the User Account in their own name as a natural person or on behalf of a legal entity whose legal representative they are. In case they wish to create a User Account on behalf of a legal entity, they are required to indicate in the registration application on behalf of which legal entity they intend to register the User Account and present the data regarding the legal entity required by the Portal Operator.
3.3. The Portal Operator has the right to limit the rights of certain groups of Users in terms of specific usage rights, including limiting access and/or usage rights with respect to certain parts of the Portal.
3.4. In order to enter the Portal, the User is required to enter their username and password. In order to use the Portal, the Portal Operator may unilaterally request the User to identify themselves via ID card, Mobile-ID, Smart-ID, bank link, an identification service of the Portal Operator’s choosing or any other identification method preferred by the Portal Operator. In order to issue declarations of intent that have legal consequences, the Portal Operator may request the verification of the User’s signature via one of the aforementioned authentication methods.
4. Using the User Account
4.1. The User shall use their User Account for making investments in the Projects by issuing instructions to the Portal Operator or by using the Auto Invest tool in accordance with the terms and conditions set forth in Section 6 below and for keeping track of financial obligations and claims that have arisen on the basis of the Terms and Conditions and/or as a result of investments made via the Portal.
4.2. The User is responsible for the rights and obligations related to their User Account. Among other things, the User shall be a party to the transactions concluded via the Funding Sites on the basis of the instructions the User issues to the Portal Operator via the User Account. Terms and conditions applicable to respective transactions on the respective Funding Site shall apply to investments made via the Portal, and the User shall accept these terms and conditions upon issuing instructions to the Portal Operator.
4.3. The User Account shall reflect, in the currencies supported by the Portal, the sum of funds transferred by the User to the Portal Operator for the purposes of making investments in the Projects by concluding transactions via the Funding Sites, as well as the funds received from Funding Sites as a result of investments made, from which sums subject to payment or compensation to the Portal Operator according to the Terms and Conditions shall be deducted.
4.4. The User can issue an instruction to the Portal Operator to conclude a transaction via one of the Funding Sites only if the User Account has a non-booked positive balance in the amount necessary for the respective transaction and in the currency in which investments in the respective Project are accepted, i.e. an amount sufficient for performing the obligations of the User towards the other party of the transaction concluded via the Funding Site on behalf of the User by the Portal Operator .
4.5. The User may transfer funds to the Portal Operator only in currencies supported by the Portal and only from a payment account registered in the name of the User in a credit or payment institution, which is subject to financial supervision in its place of registration and is registered or operating in a state which is a Contracting Party to the EEA Agreement or in a state where equivalent money laundering and terrorist financing prevention measures are applied (the Portal Operator has the right to request documents confirming compliance with the conditions referred to herein). The User is required to indicate the individual reference number generated by the Portal for the User in the payment order.
4.6. If the payment account from which a transfer was made to the Portal Operator does not belong to the respective User or does not meet any other conditions set forth in Section 4.5, including if the reference number set forth in Section 4.5 is not indicated in the payment order, the Portal Operator has the right to transfer the received amount back to the payment account from which the payment was made and demand from the User compensation of expenses related to returning the payment, including automatically deducting them from the User Account, if possible.
4.7. The amount of the payment made by the User to the Portal Operator in accordance with Section 4.5 is reflected in the User Account in the currency the payment was made in and the User shall use it in order to perform obligations arising from transactions concluded via the Funding Sites or from the Terms and Conditions to the parties to said transactions or the Portal Operator.
4.8. Unless provided differently in the Terms and Conditions, the User may request from the Portal Operator, to the extent of the positive balance of the non-booked funds reflected in the User Account, transfer of the funds reflected in the User Account to the User’s payment account, by giving a payment order to the Portal Operator via the respective application form in the Portal. The abovementioned order shall be considered as instructions of the User to the Portal Operator to transfer the sum referred to in the order (to the extent of the non-booked positive balance of the User Account) via a bank transfer to the payment account of the User.
4.9. The Portal Operator shall make payments to the User only to the payment account disclosed to the Portal Operator by the User. The User has the right to request from the Portal Operator to make the payments only to the payment account that is registered in the name of the User and complies with other terms and conditions set forth in Section 4.5. The Portal Operator has the right to refuse to make a payment to the payment account that does not belong to the User or does not meet any other conditions set forth in Section 4.5. The Portal Operator has the right to request documents and acts from the User to confirm compliance of the payment account with the conditions referred to herein (among other, request the User to provide a payment account statement and/or make a payment from the payment account to the Portal Operator).
4.10. If the User wishes to change the their payment account details previously provided to the Portal Operator, the User shall inform the Portal Operator of the new payment account details via the respective application form in the Portal, thereby confirming that the payment account has been opened in the name of the User and complies with other terms and conditions set forth in Section 4.5. For the sake of clarity, the Portal Operator shall have the rights set forth is Section 4.9 in respect to any payment account disclosed to the Portal Operator.
4.11. The User shall cover the transfer expenses for the transfers made by the User to the Portal Operator. Expenses related to the payments made by the Portal Operator to the User and other expenses related to the payments made by the Portal Operator, including payments related to concluding transactions via the Funding Sites shall be reimbursed to the Portal Operator by the User according to the Portal Operator’s price list. The Portal Operator has the unilateral right to change its price list by publishing the new price list in the Portal at least 5 business days before its entry into force.
4.12. The Portal Operator shall keep the funds transferred to it by the User in a bank account opened in the Portal Operator’s name solely for this purpose in a licensed credit or payment institution is registered or operating in state, which is a Contracting Party to the EEA Agreement. The funds in the Portal Operator’s respective bank account are excluded from the Portal Operator’s assets. The Portal Operator shall keep the funds of the User separately from its own funds. The funds transferred by the User to the bank account of the Portal Operator shall belong to the User to the extent of the non-booked positive balance of the User Account. The Portal Operator shall not calculate interest on the funds of the User kept with the Portal Operator and no such interest shall be payable to the User.
5. Making Investments
5.1. If the User wishes to invest in a Project, they shall use the respective application form in the Portal for issuing an instruction to the Portal Operator and submit any and all data required in the application form . Upon issuing the instruction to the Portal Operator, the User shall approve the terms and conditions of all agreements and other legal documents to be concluded on behalf and on the account of the User by the Portal Operator in connection with the respective transaction or Project. The instruction to make the investment shall be binding to the User. The User cannot unilaterally withdraw or cancel the issued instruction unless provided differently by imperative provisions of the law.
5.2. By issuing the instruction in accordance with Section 5.1, the User authorises the Portal Operator to book the positive balance reflected in the User Account in the amount indicated in the User’s instruction and the amount payable to the Portal Operator upon the conclusion of the transaction (i.e. the respective sum cannot be used for concluding other transactions and no requests can be made to have it transferred to the User"s payment account).
5.3. The User may issue instructions to the Portal Operator via the Portal only in the amount of the non-booked positive balance reflected as positive balance in the User Account. The Portal Operator has the right, at their own discretion, to establish limitations or additional requirements regarding the minimum or maximum balances on the User Account.
5.4. If the Portal Operator has concluded the transaction for making the instructed investment on behalf of the User via the Funding Site, the Portal Operator shall automatically settle the amounts booked in the User Account after the instruction was issued by debiting the User Account by the investment amount and by the amount payable to the Portal Operator for the execution of the instruction, if applicable.
5.5. If the transaction for making the instructed investment via the Funding Site cannot be concluded, the Portal Operator shall automatically refund or release the funds debited from or booked in the User Account.
5.6. Performance of any and all financial obligations resulting from investments made via the Funding Sites and from the Terms and Conditions shall be carried out via the User Account, unless provided differently in the Terms and Conditions. No other financial obligations can be performed or payments made through the User Account.
5.7. The funds the Portal Operator receives from a Funding Site as a result of an investment made by the User shall be reflected in the User Account in accordance with Section 4.3 not later than 24 hours after receiving the funds.
5.8. The User is not entitled to request any funds to be reflected in the User Account unless the Portal Operator has first received said funds either from the User or a Funding Site.
5.9. The Portal Operator has the right to use the funds transferred to it and reflected in the User Account for the purposes of concluding transactions via the Funding Sites on the basis of the instructions issued by the User in accordance with the Terms and Conditions and the transactions concluded during the use of the Portal.
6. Auto Invest
6.1. The Auto Invest tool (hereinafter the “ Auto Invest ”) is a feature of the Portal that allows the User to issue an instruction to the Portal Operator to automatically make investments in Projects on behalf of the User according to specific criteria set by the User.
6.2. The User sets up Auto Invest by activating it through a respective option in the Portal. The User shall provide their declaration of intent necessary to activate Auto Invest pursuant to Section 3.4 of the Terms and Conditions.
6.3. By activating Auto Invest, the User confirms that they have read and fully understood the operation principles of Auto Invest set forth in this Section 6 and the potential consequences associated with its activation.
6.4. The User determines, for example, the parameters of the following criteria in the settings of Auto Invest:
6.4.1. the maximum investment amount per Project, which must be at least equal to or exceed 100 euros (the minimum investment amount specified by the Portal Operator);
6.4.2. the amount of the entire Auto Invest portfolio (must be at least equal to or exceeding the minimum specified by the Portal Operator);
6.4.3. the minimum and, if desired, maximum expected interest rate;
6.4.4. suitable types of Projects;
6.4.5. suitable countries;
6.4.6. in case of investing in secured loans, the ratio of the loan amount to the collateral value (%);
6.4.7. which Auto Invest portfolio pre-sets (e.g. Conservative, Diversified) the User wishes to use, if any.
6.4.8. suitable Funding Sites.
6.5. At its own discretion, the Portal Operator may remove or add criteria to be determined by the User using Auto Invest. If the Portal Operator removes any criterion, it shall inform the User of this at least one business day in advance and the rest of Auto Invest will remain valid unless the User deactivates it. If the Portal Operator adds an additional criterion, the User may change existing settings and make choices based on the additional criterion.
6.6. By activating Auto Invest, the User confirms their desire and consent for the Portal Operator to automatically issue declarations of intent via the Funding Sites on behalf of the User (e.g. to submit investment offers and conclude agreements in connection with the Projects) according to the criteria specified by the User during the setup of Auto Invest. Any declaration of intent issued by the Portal Operator arising from use of Auto Invest by the User shall be deemed to have been done and confirmed by the User without any additional confirmations and, as such, is binding and irrevocable to the User.
6.7. On behalf of a User using Auto Invest, the Portal Operator issues declarations of intent only to the extent of the non-booked positive balance of funds reflected in the User Account, after which the respective funds cannot be used for concluding any other transactions or executing any other instructions by the User in accordance with Section 5.2 of the Terms and Conditions.
6.8. When Auto Invest is activated, it will not apply to ongoing Projects, but will apply to Projects made available via the Portal after the activation of Auto Invest.
6.9. The Portal Operator shall submit investment offers in connection with a Project on behalf of Auto Invest Users before submitting investment offers on behalf of any Users who have issued individual investment instructions, i.e. Auto Invest Users are prioritised.
6.10. Auto Invest Users participate in the investment made in a Project via the Portal proportionally to the maximum investment amount each User has defined in the parameters of their Auto Invest tool. If the sum of all Auto Invest Users’ maximum investment amounts exceeds the maximum possible investment amount in a Project via the Portal, then the Portal Operator shall issue declarations of intent in the chronological order of User Account registration, i.e. the Auto Invest Users who registered their User Accounts earlier are prioritised (regardless of when Auto Invest was activated by the User).
6.11. Financial obligations arising from transactions made in connection with Auto Invest shall be performed via the User Account in accordance with the Terms and Conditions.
6.12. Via the User Account, the User can at any given time review the transactions and agreements concluded by the Portal Operator in connection with Auto Invest and get an overview of the funds transferred from the User Account on the basis of agreements concluded as a result of declarations of intention issued via Auto Invest. Additionally, the Portal Operator shall send a notification to the User’s e-mail regarding each concluded transaction and its terms and conditions resulting from the declarations of intention submitted via Auto Invest.
6.13. The User may turn on, temporarily pause, turn off, or change the setup of Auto Invest according to their discretion at any given time. Pausing, turning off, or changing the settings of Auto Invest does not invalidate the declarations of intent previously issued by the Portal Operator via the Funding Sites in connection with Auto Invest. The activation or deactivation of Auto Invest does not prevent the User from issuing declarations of intent via the Portal in any other way, including issuing individual investment instructions to the Portal Operator.
6.14. If the User Account does not have a sufficient non-booked positive balance for issuing declarations of intent via activated Auto Invest, it does not pause or turn off Auto Invest. If an amount equal to at least the minimum investment amount defined in the parameters of Auto Invest is transferred to said User Account either by the User or the Portal Operator from funds received from the Funding Sites, Auto Invest will allow the Portal Operator to submit declarations of intent again.
6.15. Changing the settings of Auto Invest does not affect the validity of the declarations of intent previously issued (i.e. investment offers previously submitted) or agreements previously concluded by the Portal Operator via the Funding Sites in connection with Auto Invest.
7. General Rights and Obligations of the User
7.1.1. not to use the Portal for illegal transactions or activities, including fraud, money laundering or other similar activities;
7.1.2. to use the Portal through web browsers intended for general purposes and not through programs that send automatic queries to the Portal for whichever purposes. It is forbidden to use bots, scrapers and other automatic data entry and processing devices. The User is forbidden to perform any activities that disturb or hinder the Portal’s intended usage by the Portal Operator or other Users, including refraining from overloading the Portal’s system and servers;
7.1.3. to submit only truthful data and information upon registering the User Account. If the User discloses unverified or uncertain data or information while using the Portal, the User shall indicate it upon disclosing such data or information. The User shall be liable for the damages caused by the violation of the obligations set forth in this Section with respect to the Portal Operator, first and foremost in case where the Portal Operator has submitted a declaration of intent or executed a transaction presuming correctness of such false data. The Portal Operator does not verify the correctness of the information submitted by the User and shall not take any responsibility for the correctness and truthfulness of the data submitted by the User;
7.1.5. to notify the Portal Operator immediately about transferring or losing the data and devices enabling third parties to log in to the User Account and use the Portal, and about the risk of unauthorised use of the User Account that may respectively occur;
7.1.6. to inform the Portal Operator as soon as possible of any changes in the data submitted upon opening the User Account. Until the Portal Operator is informed of the changes in the data, the Portal Operator shall consider the data submitted by the User upon opening of the User Account as valid;
7.1.7. to compensate to the Portal Operator expenses related to the use of the Portal in accordance with the Portal Operator’s price list, effective at the time of providing the respective service and pursuant to other agreements (if available) entered into with the Portal Operator;
7.1.8. not to assign or transfer any rights or obligations arising from the User’s legal relationship with the Portal Operator, including any claims against the Portal Operator, to any third parties without the prior written consent of the Portal Operator.
7.2. Until at least one business day has passed from the receipt of the notice set forth in Section 7.1.5 by the Portal Operator, the declarations of intent and transactions concluded via the User Account shall be considered as the instructions and transactions of the respective User and they shall be binding for the User even if the User has not executed such instructions or transactions. The User shall be liable for the damages caused by the unauthorised use of the User Account, except in specific cases when the User’s liability is limited by the respective imperative provisions of applicable law.
7.3.1. enter the Portal by using the ‘logging in’ function, which is secured by the necessary measures determined at the Portal Operator’s discretion;
7.3.2. use the various functions of the Portal if the User complies with the requirements established for using the specific function;
7.3.4. with prior consent of the Portal Operator, authorise the User’s representative to use the User Account and register the representative as the authorised user of the User Account;
7.3.5. provide feedback regarding the services offered by the Portal and respond to the surveys, including the service quality assessments, carried out by the Portal Operator.
8. Intellectual Property
Any and all intellectual property rights to the Portal, including the structure, web design elements, texts and other components of the Portal, and the intellectual property rights related to them (including the intellectual property rights to trademarks, logos, brands, software, databases, news, messages, texts, graphic, musical and other design) belong to the Portal Operator, unless the rights of another person are referred to in the Portal with regard to a component. Users shall not be allowed to change, reproduce, disseminate, process, translate, make extracts from, forward, include in other databases or make public the Portal or any of its contents or components or use it in any other manner that is beyond the intended purposes of the Portal without the prior written consent of the Portal Operator. For the avoidance of doubt, the User is not allowed to grant sub-licenses for using the Portal or any of its contents or components or create new objects of intellectual property based on them.
9.1. Although the Portal Operator shall take all reasonable measures to ensure that the information published in the Portal is correct and reliable, the Portal Operator shall not be liable for publishing incorrect or misleading information, or for a violation committed or being continuously committed through the Portal or consequences thereof, of which the Portal Operator is not aware or in relation to which it has taken measures to correct the information, end the violation or eliminate consequences thereof.
9.2. The Portal Operator shall not be liable for the correctness and completeness of information received from third parties, including the Funding Sites, if the Portal Operator forwards or discloses it via the Portal with the same content as it was made available to the Portal Operator. If the User discovers that information published in the Portal is incorrect, they shall inform the Portal Operator as soon as possible. The Portal Operator shall also not be liable for the correctness and completeness of machine translations of the aforementioned information, including machine translations that are initiated via a respective function or option in the Portal (e.g. via a link to Google Translate or similar service).
9.3. The Portal Operator shall not be liable for information, opinions and any other content published on web sites belonging to third parties to which the Portal directly or indirectly refers or to which links have been published in the Portal.
9.4. The Portal Operator shall not be liable for any financial losses that the User incurs in connection with making investments in the Projects, including losses incurred as a result of an unsuccessful Project (i.e. the opposite party being unable or unwilling to perform its obligations).
9.5. If the User cannot make an investment in a Project because the Portal Operator fails to submit the respective investment offer within 24 hours of receiving a correctly completed and issued instruction from the User, the Portal Operator shall release the User"s funds it has booked for making said investment and allow the User to earn additional interest on the User"s next successful investment by increasing the interest rate by 0.15%. This interest rate increase shall not apply in case the Portal Operator fails to submit the investment offer in due time due to reasons beyond its direct control, including, but not limited to technical issues related to the Funding Site, or in case a particular Project has already been successfully funded and does not accept any more investments. The interest rate increase shall also not apply in case the investment offer is fully or partially rejected by the Funding Site, including if the investment is accepted in a reduced amount. The interest rate increase cannot be used cumulatively, i.e. only one interest increase at the aforementioned rate can apply to any given investment. Other than what is explicitly set forth in this Section 9.5, the User shall not be entitled to demand compensation from the Portal Operator for investments not made.
9.7. If the User causes damages to the Portal Operator by violating any of their obligations, the User shall fully compensate the respective damages to the Portal Operator at first request.
9.9. The Portal Operator shall not be liable for any temporary interruptions in the access to the Portal or its functionality.
9.10. The Portal Operator shall be liable only for direct proprietary damages to the User caused by the Portal Operator’s wrongful material violation of obligations. Other damages or loss of profit shall not be compensated. The Portal Operator shall not be liable if a service provider or any other third party used by the Portal Operator causes a violation of the Portal Operator’s obligations.
10. Duration and Termination of Use
10.1. The User Account is opened without term. If the User has no ongoing investments made via the Portal and they no longer wish to use the Portal, they can close the User Account and terminate the agreement concluded with the Portal Operator without advance notice. For that purpose, they need to click on the respective field in the settings of the User Account of the Portal or send the respective application to the Portal Operator to the e-mail address firstname.lastname@example.org.
10.2. The Portal Operator has the right to limit or cancel the User’s right to use the Portal and close the User Account, as well as to terminate an agreement concluded with the User at any time without advance notice if it appears that:
10.2.1.the User violates or has violated the Terms and Conditions or any other obligations arising from their agreement with the Portal Operator;
10.2.2.the User does not accept the new or amended Terms and Conditions upon first logging into the Portal after the new or amended Terms and Conditions have been made available in the Portal;
10.2.3.the User has submitted to the Portal Operator data or information that is incorrect, misleading or inaccurate;
10.2.4.while using the Portal, the User behaves in bad faith, illegally or in contradiction with the moral standards recognized in the society;
10.2.5.the Portal Operator has reason to suspect that third parties have gained possession of the data and/or devices that enable them to log into the User’s User Account and use the Portal, i.e. there is a possibility that the User Account could be used by an unauthorised person.
10.3. The Portal Operator has the right to close the Portal and terminate its operation.
10.4. Upon closing of the Portal or in cases set forth in Sections 10.1 and 10.2 (i.e. if the User can no longer use the Portal):
10.4.1.the investments made via the Portal shall remain in force under the terms and conditions set forth in the agreements concluded in connection with the respective investment or Project, and the Portal Operator shall make all reasonable efforts to facilitate a legal relationship between the User, the Funding Site and other parties to the aforementioned agreements; and
10.4.2.the Portal Operator shall pay the positive balance reflected in the User Account (as of the moment of expiry of the right to use the Portal), after deducting any outstanding amounts payable by the User to the Portal Operator, to the payment account of the User within 10 business days from the expiry of the right to use the Portal.
All notices sent to the User’s mailbox shall be considered as received within 24 hours of sending.
12. Other Conditions