Terms & Conditions
Applicability of the Terms and Conditions
- These terms and conditions for the website www.crowdlendio.com (hereinafter the "Terms and Conditions") regulate the legal relations between the registered users (hereinafter the "User") of the website www.crowdlendio.com and its subpages (hereinafter the "Portal") and Crowdlendio Services OÜ (registry code 14983874, located at Narva Mnt 7B, Tallinn, Estonia, 10117, e-mail firstname.lastname@example.org, hereinafter the "Portal Operator"), arising from the usage of the Portal.
- By registering a User account with the Portal, the User agrees with the Terms and Conditions and thereby an agreement under these Terms and Conditions is concluded between the User who registers a User account and the Portal Operator.
- The Portal Operator reserves the right to amend or supplement the Terms and Conditions or lay down additional conditions. These amendments and supplementations shall enter into force from the moment when the User has agreed to the new Terms and Conditions via the Portal.
- With commencing the use of the Portal, the User confirms that they have read the Terms and Conditions, understood them and agrees to perform and follow them.
User requirements and User account
- By submission of the registration application, the User confirms that he or she has examined in full, understands and agrees with these User Terms and the Portal privacy rules.
- A legal person can register as Portal User only through its representative who is a natural person. Such representative of the legal person must be a registered User of Portal as natural person before submission of registration application on behalf of the legal person.
- Only a natural person can act as an investor. Only legal person and sole proprietor can act as borrowers.
- A lender or a borrower can only be a person who has a current account in a credit institution registered in the commercial register in Estonia, a foreign country affiliate of a credit institution registered in the commercial register in Estonia or in a credit institution which is registered or which has a place of business in another contracting member state of the European Economic Area.
- A User, who is a natural person, must be at least 18 years old, permanent resident of a contracting member state of the European Economic Area and whose active legal capacity is not restricted. A legal person can be a User only in the case that the legal person is entered into the relevant registry in Estonia or another contracting member state of the European Economic Area.
- Upon registering a User Account, a person enters their contact information and other data required by the Portal Operator into the respective environment and selects a unique Username and password.
- A person who does not meet the above-specified requirements can be a User of Portal only if the Portal Operator has given its consent for it. The Portal Operator can refuse to register a User at its own discretion or impose additional requirements for registration of a User (including for being a lender or a borrower) or change the existing requirements at its discretion at any time.
Identification of the User and confirmation of transactions
- Portal shall identify the User in compliance with the terms and conditions of the Portal’s internal control system as the User shall present in person (Portal Operator retains a copy), send electronically to the Portal Operator e-mail address or upload the following documents to the Portal Operator Transaction Platform:
- A copy of a personal identification document (ID card) issued in the European Economic Area or a copy of a passport valid for travel with a visible first name, last name, personal identity number (or an equivalent identification code issued by the person's country of origin) and photograph of the User;
- A copy of heating, power supply or other utility invoice issued at the current address specified by the User;
- To enter the Portal, a 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 him/herself via ID card, Mobile-ID, bank link or any other identification method acceptable to the Portal Operator. In order to submit declarations of intent and give approvals that bear legal consequences, the Portal Operator may request the verification of the User's signature via ID card, Mobile-ID, bank link or mobile communication or any other authentication method.
General Rights and Obligations of the User
- In addition to other obligations set forth in the Terms and Conditions, a User shall be obliged:
- Not to use the Portal for illegal transactions or activities, including fraud, money laundering or other similar activities, and to be polite and respectful towards other Users and the Portal Operator;
- To use the Portal through web browsers intended for general purposes and not through the programs that send automatic queries to the Portal for whichever purposes. It is forbidden to use, including but not limited to, robots, spiders, scrapers and other automatic data entry and processing devices. The User is forbidden to perform any and all activities connected to cybersecurity crime that disturb or hinder Portal's intended usage by the Portal Operator or other Users, including refraining from overloading the Portal's computer network and servers;
- To submit only truthful data and information upon registering the User Account. If the User discloses unverified or uncertain data or information during the usage of Portal, the User shall be obliged to indicate it upon disclosing such data or information. The User shall be liable for the damages caused by the violation of the obligation outlined in this article with respect to the Portal Operator and other Users, first and foremost in the case where the Portal Operator or another User has submitted a declaration of intent or executed a transaction presuming correctness of such false data. The Portal Operator declines all the responsibilities about the correctness of the information and truthfulness of the data submitted by the Users;
- To keep the data and devices necessary for logging in to the User Account of the Portal, including the ID card, respective passwords, User IDs and authentication devices in a manner that prevents third parties from gaining possession of them. However, if a third party enters the Portal through User's User Account, all provisions arising from the Terms and Conditions shall apply;
- To inform the Portal Operator immediately about transferring or losing the data and devices enabling logging in to the User's User Account to third parties and the usage of the Portal by the third parties, and about the risk of unauthorized use of the User Account that may occur respectively;
- 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 the valid data of the User.
- To pay to the Portal Operator fees for the use of the Portal in accordance with the price list of the Portal Operator, effective at the time of providing the respective service and pursuant to other agreements (if available) entered with the Portal Operator.
- In addition to other rights set forth in the Terms and Conditions, a registered User shall have the right to:
- Enter the Portal by using logging in functionality, which is secured by the necessary measures determined at the Portal Operator's discretion;
- Use the functionalities of the Portal if the User complies with the requirements established for using the specific functionality;
- Use the functionalities of the Portal if the User complies with the requirements established for using the specific functionality;
- 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.
Processing of User data
- For the purposes of these Terms and Conditions, personal data shall be any and all data and information on a User who is a private person, which this User has disclosed upon registering their User Account or Sub-Account, using the Portal and making declarations of intent via the Portal, or which the Portal Operator has learned about such User from third parties. Provisions of this Article 8 that refer to any data shall also be applicable to personal data.
- The User is aware of and hereby gives their consent in his/her name for validating the correctness of the data submitted to the Portal Operator and for obtaining additional data from third parties. For the abovementioned purposes, the Portal Operator has the right to forward the User's data to third parties.
- A User, who is a private person, has the right to withdraw their consent for processing personal data at any time, request to cease the processing of personal data and terminate the access to them. A User, who is a private person, has also the right to request the deletion or closing of the collected and provided personal data that the User related to them have no on-going process of agreeing with the Portal and no valid agreement concluded via the Portal and provided that the legal acts do not oblige the Portal Operator to save data. Upon withdrawing the consent to process personal data the User's User Account shall be closed.
- The Portal Operator shall be obliged to keep the User's data confidential and follow any and all rules arising from the Personal Data Protection Act of the Republic of Estonia and the General Data Protection Regulation of the European Union. The Portal Operator shall have the right to disclose User's personal data to third parties, including other Users, only in cases set forth in the law and Terms and Conditions.
- The Portal Operator shall have the right to disclose (personal) data of a User to other Users of the Portal, persons belonging to the same group as the Portal Operator and persons who provide the Portal Operator with legal assistance, accounting, auditing or any other services, which presume processing of User's personal data, provided that the respective service provider has undertaken the obligation towards the Portal Operator not to disclose the respective personal data to third parties.
- The Portal Operator shall have the right to process the data submitted by the User and data generated during the User's use of the Portal at any time for statistical purposes and disclose the resulting statistical data, ensuring that it would be impossible to connect the data directly to any specific User.
- The User shall have the right to choose, which notifications and offers they wish to receive through the Portal and refuse to receive offers from the Portal Operator and their cooperation partners, without their respective query through the Portal. Information on how to refuse the offers and advertising sent to the Users by the Portal Operator is available at the offer or advertising and/or settings of the User Account.
- 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 with regard to a component, or information that has been entered by the Users of the Portal. 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. Furthermore, the User shall not be 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.
- The Users can publish only such material in the Portal for which they have intellectual property rights to the extent that is necessary for publishing the respective materials in the Portal and for granting the consent set forth in Article A User shall be fully responsible for the materials published in the Portal by them and shall be obliged to compensate to the Portal Operator any and all expenses and damages caused (including indirect damages) that are related to the use of material published by the User in the Portal in an unauthorized manner or in a manner that otherwise violates rights arising from intellectual property.
- With the publishing of any material in the Portal by the User, the User shall give their unconditional and free consent to the Portal Operator to store, disseminate and publish such material in accordance with the Terms and Conditions and to change or process in any other manner to the extent that is necessary for the intended use of the Portal.
- Although the Portal Operator shall take all measures to ensure correctness and reliability of information published in the Portal, the Portal Operator shall not be liable for publishing incorrect or misleading information in the Portal, or for a violation committed or being continuously committed through the Portal, or consequences thereof, of which the Portal Operator is not aware or for which it has taken measures for correcting the information, ending a violation or eliminating consequences thereof.
- The Portal Operator shall not be liable for the correctness and completeness of information received from third parties if the Portal Operator forwards or discloses it in the Portal in the same format as it was forwarded or made available to the Portal Operator in any other manner. If a User discovers incorrectness of information contained in the Portal, they shall be obliged to inform the Portal Operator as soon as possible. More information in Article 4.1.3.
- The Portal Operator shall not be liable for information, opinions and any other content published on websites belonging to third parties to which the Portal directly or indirectly refers or to which links have been published in the Portal.
- The Portal Operator shall not be liable to other Users or third parties if a User violates an obligation set forth in the Terms and Conditions, any other agreement concluded with the Portal Operator, legal act or agreement concluded between Users. The Portal Operator shall be liable for the obligations arising from a transaction concluded through the Portal only if the Portal Operator is a party to a specific transaction.
- If a User causes damages to the Portal Operator by violating any of the obligations, the User shall be obliged to fully compensate the respective damages to the Portal Operator at the first request.
- The Portal Operator shall not be liable for the damages that were caused to a User or third parties in relation to the fact that the Portal Operator used their legal remedies (e.g. removed information from the Portal or limited access to it, limited or restricted User's access to their User Account or Portal) if it was necessary due to a complaint submitted regarding User's violation, Portal Operator's suspicion of violation or suspicion of unauthorized use of a User Account, Sub-Account or directly due to the fact that information or a User's conduct is in violation of the Terms and Conditions or legal acts. In such a case, the Portal Operator shall not be liable for the damages caused even if a complaint or suspicion was unfounded, or it later appears that the case did not constitute a violation.
- The Portal Operator shall not be liable for the temporary interruption in the access to the Portal or its functionality.
- The Portal Operator shall be liable only for the 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 subject to compensation. The Portal Operator shall not be liable if a service provider or any other third party used by the Portal Operator causes the violation of obligations.
- The Portal Operator shall not be liable for settling disputes between the Users that arise from using the Portal but reserves the right to interfere in such disputes at their own discretion if necessary, and in case of violation of the Terms and Conditions, apply, including other possibilities, the provisions of Article 11.2.
Duration of Use of the Portal and Termination of Use
- User Accounts in the Portal are opened without term. If a User has no valid agreements concluded via the Portal, and they no longer wish to use the Portal, they can close the User Accounts 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 email@example.com.
- The Portal Operator shall have the right to limit or cancel a User's right to use the Portal and close a User Account, as well as to terminate an agreement concluded with a User at any time without advance notice if it appears that:
- The User violates or has violated the Terms and Conditions or any other User obligations;
- The User does not accept new Terms and Conditions upon first logging into the Portal after the new Terms and Conditions have been made available in the Portal;
- The User has submitted to the Portal Operator or other Users data and/or information that is incorrect, misleading and/or inaccurate;
- The User behaves upon using the Portal in bad faith, without dignity, illegally or in contradiction with the moral standards recognized in the society;
- The Portal Operator has discovered a circumstance based on which there may be a suspicion that third parties have gained possession of the data and devices allowing logging into the User's User Account and using of the Portal and the User Account could be used by an unauthorized person.
- The Portal Operator shall have the right to close the Portal.
- Upon closing the Portal or in cases set forth in Articles 11.2 and 11.1 (if the User can no longer use the Portal):
- The transactions made through the Portal shall remain in force under< the terms and conditions;
- The settlements arising from transactions made between the respective User and other Users shall thereafter take place through the bank accounts of the respective User and other Users on the basis of the payment orders given by such Users (for the purposes of clarity: after the expiry of the right to use the Portal, the Portal Operator shall not be responsible for making or receiving payments on behalf of the Users). The Portal Operator shall inform the Users who have valid transactions made through the Portal with a User who no longer has the right to use the Portal of the expiry of the respective User's right to use the Portal;
- The notices sent to the User's mailbox shall be considered as received within 24 hours of sending.
- Legislation of the Republic of Estonia shall be applicable to the use of the Portal in issues not regulated in the Terms and Conditions. If an article of the Terms and Conditions proves to be void due to contradicting the law, it shall not influence the validity of other articles.
- Disagreements and disputes arising from the fulfilment of the Terms and Conditions shall be settled by the parties primarily through negotiations. The Portal Operator shall have the unilateral right to establish a procedure for extrajudicial settling of disputes. If settling of disagreements through negotiations is impossible, the dispute shall be settled in the Court of the Republic of Estonia. If the User is a legal entity or a private person operating in its economic or professional activities, or a person who after commencing the use of the Portal has settled in a foreign state or whose place of business, residence or location at the time of filing an action is unknown, the competent institution for settling the dispute shall be Harju County Court.
- The information published on www.crowdlendio.com is protected by copyright. The use of all or part of the materials published by the Portal Operator is not permitted without the Portal Operator's consent. Consent can be requested by writing to firstname.lastname@example.org.