Terms of Use

Updated as of October 2017

These Terms of Use contain ten sections.

1. Lendpool website

A. These Terms of Use apply to all users of this site (lendpool.com), including users who are also contributors of content, information, and other materials or Services on the Website. The Lendpool Website includes all aspects of Lendpool, including but not limited to Lendpool’ funding and financing engine, Lendpool Escrow service and Lendpool Points (called “Lendos”).
B. The Lendpool website may contain links to third party websites that are not owned or controlled by Lendpool. Lendpool has no control over, and assumes no responsibility for, the content, privacy policies, or practices of any third party websites. In addition, Lendpool will not and cannot censor or edit the content of any third-party site. By using the Website, you expressly relieve Lendpool from any and all liability arising from your use of any third-party website.

C. Accordingly, we encourage you to be aware when you leave the Lendpool Website and to read the terms and conditions and privacy policy of each other website that you visit.

What we do
Lendpool.com provides a platform through which Community Members can become ‘Contributors’ to projects (posted by ‘Project creators’) by funding or financing them. The Project creators offer unique rewards in exchange for this support royalties based participation. In addition, the platform lendpool.com also provides you with a fantastic opportunity to build a community around a project, promoting it on the platform and on linked social media sites, to your friends, family and supporters.

We do verify that project owners submit their campaign as part of an entity legally formed and incorporated in the jurisdiction of their choice and that that entity is in existence and active at the time of campaign submission.

What we don’t do
We do not verify the identity of anyone who becomes a member with lendpool.com nor the information they provide about their project or themselves. We cannot therefore give any guarantee that any of the Community Members are who they say or that the information they provide is accurate, complete or true. We therefore make no recommendation in relation to any Community Members or their projects.

We do not have any involvement in the activities of Community Members nor in any arrangements they make with others through lendpool.com. We therefore do not accept any responsibility for the nature or quality of the performance of a project, nor that any Community Member will do what they promise to do. The activities and arrangements you make are solely private and made directly between the individuals concerned. Accordingly, when using lendpool.com, you take full responsibility for your arrangements with other Community Members whom you contact and the nature, terms and extent of your arrangement with them.

At Lendpool we do not allow the sale or participation in equity or shares based contribution in any company. Such activities are not to be condoned on lendpool.com and we strongly encourage the reporting of these proposals to admin@lendpool.com.

2. Accounts

A. In order to access some features of the Website, you will have to create a Lendpool account. You may never use another’s account without permission. When creating your account, you must provide accurate and complete information. In order to become a verified member with full access to all of the Lendpool’s features you must activate your account using the link sent to the email address you provided. Failure to do so will not allow you to become an active member; you will be restricted on use under the guest status. No member is allowed to have more than one verified account at any time. You are solely responsible for the activity that occurs on your account, and you must keep your account password secure. You must notify Lendpool immediately of any breach of security or unauthorized use of your account.
B. You must be 18 years of age or older to create an account with lendpool.com and there must be no reason why you should not be in contact with any other Community Member.

C. When you create an account with lendpool.com you will be asked to “accept” the Terms and, on doing so, you will be deemed to have consented to and will be bound by these Terms.

D. Although Lendpool will not be liable for your losses caused by any unauthorized use of your account, you may be liable for the losses of Lendpool or others due to such unauthorized use.

3. General Use of the Website — Permissions and Restrictions

Lendpool hereby grants you permission to access and use the Website as set forth in these Terms of Use, provided that:
A. You agree not to distribute in any medium any part of the Website, including but not limited to User Submissions (defined below), without Lendpool’s prior written authorization.

B. You agree not to alter or modify any part of the Website, including but not limited to Lendpool’s funding engine or any of its related technologies.

C. You agree not to access User Submissions (defined below) or Lendpool Content through any technology or means other than the pages of the Website itself, the Lendpool funding engine, or other explicitly authorized means Lendpool may designate.

D. You agree not to use the Website, including the Lendpool funding engine for any commercial use, without the prior written authorization of Lendpool. Prohibited commercial uses include any of the following actions taken without Lendpool’s express approval:
– sale of access to the Website or its related services (such as the link exchange) on another website;
– the sale of advertising, on the Lendpool’s website or any third-party website, targeted to the content of specific User Submissions or Lendpool content;
– and any use of the Website or its related services (such as the financing platform) that Lendpool finds, in its sole discretion, to use Lendpool’s resources or User Submissions with the effect of competing with or displacing the market for Lendpool, Lendpool content, or its User Submissions.

E. Prohibited commercial uses do not include:
Uploading an original Ad to Lendpool, or maintaining an original Ad on Lendpool, to promote your business or artistic enterprise;
Using the funding engine to show Lendpool’s Ads on an ad-enabled blog or website, provided the primary purpose of using the financing engine is not to gain advertising revenue or compete with Lendpool;
Any use that Lendpool’s expressly authorizes in writing.

F. If you use the Lendpool financing engine on your website, you must include a prominent link back to the Lendpool website on the pages containing the financing engine and you may not modify, build upon, or block any portion of the financin engine in any way.

G. If you use the Lendpool Messaging, you agree that it may automatically record and store the details of communication from time to time from Lendpool. These recorded and stored messages are designed to improve, enhance and further develop the financing engine and may take the form of bug fixes, enhanced functions, new software modules and completely new versions. You agree to receive such updates (and permit Lendpool to deliver these to you) as part of your use of the Messaging.

H. You agree not to use or launch any automated system, including without limitation, “robots,” “spiders,” or “offline readers,” that accesses the Website in a manner that sends more request messages to the Lendpool’s servers in a given period of time than a human can reasonably produce in the same period by using a conventional on-line web browser. Notwithstanding the foregoing, Lendpool grants the operators of public search engines permission to use spiders to copy materials from the site for the sole purpose of and solely to the extent necessary for creating publicly available searchable indices of the materials, but not caches or archives of such materials. Lendpool reserves the right to revoke these exceptions either generally or in specific cases. You agree not to collect or harvest any personally identifiable information, including account names, from the Website, nor to use the communication systems provided by the Website (e.g. comments, chat, email) for any commercial solicitation purposes. You agree not to solicit, for commercial purposes, any users of the Website with respect to their User Submissions.

I. In your use of the website, you will otherwise comply with the terms and conditions of these Terms of Use, Lendpool’s Community Guidelines, and all applicable local, national, and international laws and regulations.

J. Lendpool reserves the right to discontinue any aspect of the Lendpool’s Website at any time.

4. Your Use of Content on the Site

In addition to the general restrictions above, the following restrictions and conditions apply specifically to your use of content on the Lendpool Website.
A. The content on the Lendpool Website, except all User Submissions (as defined below), including without limitation, the text, software, scripts, graphics, photos, sounds, music, videos, interactive features and the like (“Content”) and the trademarks, service marks and logos contained therein (“Marks”), are owned by or licensed to Lendpool, subject to copyright and other intellectual property rights under the law. Content on the Website is provided to you AS IS for your information and personal use only and may not be downloaded, copied, reproduced, distributed, transmitted, broadcast, displayed, sold, licensed, or otherwise exploited for any other purposes whatsoever without the prior written consent of the respective owners. Lendpool reserves all rights not expressly granted in and to the Website and the Content.

B. You may access User Submissions solely:
– for your information and personal use;
– as intended through the normal functionality of the Lendpool Service;
– and for Funding and Financing.

“Funding” and “Financing” means a contemporaneous contribution, usually monetary pledges via the Internet from the Lendpool Service to a user’s device in such a manner that the data is intended for real-time viewing and not intended to be copied, stored, permanently downloaded, or redistributed by the user. Accessing User Submissions for any purpose or in any manner other than funding or financing  is expressly prohibited. User Submissions are made available “as is.”

C. User Comments in Lendpool Messaging services are made available to you for your information and personal use solely as intended through the normal functionality of the Lendpool Service. User Comments are made available “as is”, and may not be used, copied, reproduced, distributed, transmitted, broadcast, displayed, sold, licensed, downloaded, or otherwise exploited in any manner not intended by the normal functionality of the Lendpool Service or otherwise as prohibited under this Agreement.

D. You may access Lendpool Content, User Submissions and other content only as permitted under this Agreement. Lendpool reserves all rights not expressly granted in and to the Lendpool Content and the Lendpool Service.

E. You agree to not engage in the use, copying, or distribution of any of the Content other than expressly permitted herein, including any use, copying, or distribution of User Submissions of third parties obtained through the Website for any commercial purposes.

F. You agree not to circumvent, disable or otherwise interfere with security-related features of the Lendpool Website or features that prevent or restrict use or copying of any Content or enforce limitations on use of the Lendpool Website or the Content therein.

G. You understand that when using the Lendpool Website, you will be exposed to User Submissions from a variety of sources, and that Lendpool is not responsible for the accuracy, usefulness, safety, or intellectual property rights of or relating to such User Submissions. You further understand and acknowledge that you may be exposed to User Submissions that are inaccurate, offensive, indecent, or objectionable, and you agree to waive, and hereby do waive, any legal or equitable rights or remedies you have or may have against Lendpool with respect thereto, and agree to indemnify and hold Lendpool, its Owners/Operators, affiliates, and/or licensors, harmless to the fullest extent allowed by law regarding all matters related to your use of the site.

5. Your User Submissions and Conduct

A. As a Lendpool account holder you may contribute using the funding or financing mechanism to a campaign (“User Contribution” or “User Fundraiser”) and textual content (“User Messages”). User Contribution, User Fundraiser and User Messages are collectively referred to as “User Submissions.” You understand that whether or not such User Submissions are published, Lendpool does not guarantee any confidentiality with respect to any User Submissions.
B. You shall be solely responsible for your own User Submissions and the consequences of posting or publishing them. In connection with User Submissions, you affirm, represent, and/or warrant that: you own or have the necessary licenses, rights, consents, and permissions to use and authorize Lendpool to use all patent, trademark, trade secret, copyright or other proprietary rights in and to any and all User Submissions to enable inclusion and use of the User Submissions in the manner contemplated by the Website and these Terms of Use.

C. For clarity, you retain all of your ownership rights in your User Submissions. However, by submitting User Submissions to Lendpool, you hereby grant Lendpool a worldwide, non-exclusive, royalty-free, sub-licensable and transferable license to use, reproduce, distribute, prepare derivative works of, display, and perform the User Submissions in connection with the Lendpool Website and Lendpool’s (and its successors’ and affiliates’) business, including without limitation for promoting and redistributing part or all of the Lendpool Website (and derivative works thereof) in any media formats and through any media channels. You also hereby grant each user of the Lendpool Website a non-exclusive license to access your User Submissions through the Website, and to use, reproduce, distribute, display and perform such User Submissions as permitted through the functionality of the Website and under these Terms of Use. The above licenses granted by you in User Contribution and/or User Fundraiser terminate within a commercially reasonable time after you remove or delete your User Contribution and/or User Fundraising campaign from the Lendpool Service. You understand and agree, however, that Lendpool may retain, but not display, distribute, or perform, server copies of User Submissions that have been removed or deleted. The above licenses granted by you in User Messages are perpetual and irrevocable.

D. In connection with User Submissions, you further agree that you will not submit material that is copyrighted, protected by trade secret or otherwise subject to third party proprietary rights, including privacy and publicity rights, unless you are the owner of such rights or have permission from their rightful owner to post the material and to grant Lendpool all of the license rights granted herein.

E. You agree that you will not offer, in any circumstances, equity or shares based participation in your or others company to any of Lendpool’s members. Further you agree not to offer shares for sale or rewards based equity in your or others legal entity as corporation, partnership or other form of association.

F. You further agree that you will not, in connection with User Submissions, submit material that is contrary to the Lendpool.

G. Lendpool does not endorse any User Submission or any opinion, recommendation, or advice expressed therein, and Lendpool expressly disclaims any and all liability in connection with User Submissions.

Lendpool does not permit copyright infringing activities and infringement of intellectual property rights on its Website, and Lendpool will remove all Content and User Submissions if properly notified that such Content or User Submission infringes on another’s intellectual property rights. Lendpool reserves the right to remove Content and User Submissions without prior notice.

6. Contributing to a Project

If a Contributor elects to support a project financially, he/she will be led directly to one of the payment services like PayPal or card providers to arrange for payment of amount of his/her pledge where could chose to pay PayPal, Amazon, Stripe or Bitcoin directly when available or a card from a main street service like Visa, MasterCard, American Express.
A. If a project achieves 100% of its funding target within the funding timescale, the main street card system will debit an amount equivalent to the Contributor’s pledge and release those funds to the Project Creator. If 100% of the target funding is not achieved within that timescale no funds will be taken from Contributors in respect of that project.

B. With certain paygates like PayPal, Mastercard, Visa and Amazon payments the processing fee is 30 cents per transaction plus 2.9% of the amount transferred; for example, on a contribution of $100 towards a Project, there will incure a charge of $3.73 or if a contribution is $1000 towards a Project, the charge will be $35.40 (i.e. the processing fee element is proportionately lower if the whole sum is deposited in a single transaction). Monies are held in a separate account escrow or in trust at a chartered bank. This account has been set up to hold money belonging to Contributors until a project reaches its target. If a project achieves 100% of its funding target within the funding timescale, Lendpool forward an amount equivalent to the Contributor’s pledge (minus Lendpool fees currently at 5%) to the Project Creator. If 100% of the target funding is not achieved within that timescale funds will be refunded to the Contributors. The processing fees cannot be returned to the Contributor.

C. Please be aware that we do not at any time receive or hold any main street card monies that are contributed by Contributors to a project. We are not therefore responsible for any transaction involving a contribution of funds, nor the issue of refunds.

D. Where a Contributor elects to support a Project by offering his time or skills to the Project creator, the Contributor and Project creator take full responsibility for making all their arrangements in relation to the provision of that time and any associated services.

E. The Project owner agrees to use all funding raised for his/her project only in respect of the project, the particular product or service and that such funding will not be used for any other purpose.

F. If you choose to support a project, you acknowledge that your contribution (whether financial or otherwise) does not entitle you to any rights in or to that project, product or service including without limitation any ownership, control, or intellectual property rights.

G. In order to contribute with funds or monetary participation to a project submitted and approved on lendpool.com you must be an accredited investor in at least one jurisdiction of your choice.

Lendpool.com is a platform where Project Owners run campaigns to fund projects by offering rewards like royalties as percentage from gross sales per units sold to raise money from Contributors. By creating a funding campaign on lendpool.com, you as the Project Owner are offering the public the opportunity to enter into a contract with you. By backing a funding campaign on lendpool.com, you as the Contributor accept that offer and the contract between Contributor and Project Owner is formed. Lendpool.com is not a party to that agreement between the Contributor and Project Owner. All dealings are solely between Users.

By backing or creating a funding campaign on lendpool.com, you agree to be bound by this entire Agreement, including the following terms:

• Contributors agree to provide their payment information at the time they pledge to a campaign. The payment will be collected at or after the campaign deadline and when the amount of money pledged as of the deadline is at least equal to the project goal. The amount Contributors pledge is the amount they will be charged.
• Contributors consent to lendpool.com and its payments partners authorizing or reserving a charge on their payment card or other payment method for any amount up to the full pledge at any time between the pledge and collection of the funds.
• Contributors agree to have sufficient funds or credit available at the campaign deadline to ensure that the pledge will be collectible.
• For all campaigns, lendpool.com gives to the Project Owner each Contributor’s Username and pledge amount. For successful projects, lendpool.com additionally gives to the Project Owner each Contributor’s name and email (unless the Contributor has pledged anonymously).
• Because of occasional failures of payments from Contributors, lendpool.com cannot guarantee the receipt by Project Owners of the amount pledged minus fees.
• Lendpool.com and its payments partners will remove their fees before transmitting proceeds of a campaign. Fees may vary depending on region and other factors.
• Lendpool.com reserves the right to cancel a pledge at any time and for any reason.
• Lendpool.com reserves the right to reject, cancel, interrupt, remove, or suspend a campaign at any time and for any reason. Lendpool.com is not liable for any damages as a result of any of those actions. Lendpool.com’s policy is not to comment on the reasons for any of those actions.
• Project Owners should not take any action in reliance on having their project posted on the Site or having any of the money pledged until they have the ability to withdraw and spend the money. There may be a delay between the end of a successful fundraising campaign and access to the funds.

7. Rewards

A. Project owners offer rewards in royalties to their Contributors, in exchange for their support. Project creators agree that such rewards will be non-statutory in the like of equity and will not breach any applicable laws in the project owner’s country of residence.
B. If a project has been successfully funded, the Project owner takes full responsibility for fulfilling all obligations he/she undertakes in respect of his/her project, including arranging for and delivering any agreed rewards and returns within any agreed time-frame.

C. For some rewards, the Project Owner needs further information from Contributors, such as a mailing address to enable the Project Owner to deliver the rewards. The Project Owner shall request the information directly from Contributors at some point after the project is successful. To receive the reward, Contributors agree to provide the requested information to the Project Owner within a reasonable amount of time.

D. For royalties, the Project Owner shall provide a Royalty Contract in draft as per the said reward to the willing Investor. The Investors interested in the royalty reward shall do their own due diligence and only proceed when both parties agree to the conditions in the Royalty Contract.

D. For interest payed to lenders, the Project Owner shall provide a [Lending] Contract in draft as per the said reward to the willing Lender. The Lenders receiving the interest payed on their loans shall do their own due diligence and only proceed when both parties agree to the conditions in the [Lending] Contract.

The information exchanged directly between the Project Owner and the Contributor is solely their responsibility.

Lendpool.com is not liable for any damages or loss incurred related to rewards or any other use of the Service.

Lendpool.com is under no obligation to become involved in disputes between any Users, or between Users and any third party arising in connection with the use of the Service. This includes, but is not limited to, delivery of goods and services, and any other terms, conditions, warranties, or representations associated with campaigns on the Site. Lendpool.com does not oversee the performance or punctuality of projects. The Company does not endorse any User Submissions. You release Lendpool.com, its officers, employees, agents, and successors in rights from claims, damages, and demands of every kind, known or unknown, suspected or unsuspected, disclosed or undisclosed, arising out of or in any way related to such disputes and the Service.

8. Fees

A. Becoming a member and creating an account with Lendpool.com is free.
B. Third party fees: the PayPal, credit card, certified check fees are paid from the funds pledged by the Contributors. These fees are collected by payment processors like for example PayPal or credit card companies when a Contributor participate in a Project. The remainder of funds is then paid out in full to the project creator.
• 3% – PayPal fees on each contribution made by a Contributor

C. You are responsible for paying all fees and applicable taxes associated with your use of lendpool.com. In the event we remove your Project from lendpool.com as a result of your breach of these Terms, all fees paid will be non-refundable.

9. Account Termination Policy

A. Lendpool will terminate a User’s access to its Website if, under appropriate circumstances, they are determined to be a repeat infringer.
B. Lendpool reserves the right to decide whether Content or a User Submission is appropriate and complies with these Terms of Use for violations other than copyright infringement, such as, but not limited to, pornography, obscene or defamatory material, or excessive length. Lendpool may remove such User Submissions and/or terminate a User’s access for uploading such material in violation of these Terms of Use at any time, without prior notice and at its sole discretion.

10. Limitation of Liability

IN NO EVENT SHALL LENDPOOL, ITS OFFICERS, DIRECTORS, EMPLOYEES, OR AGENTS, BE LIABLE TO YOU FOR ANY DIRECT, INDIRECT, INCIDENTAL, SPECIAL, PUNITIVE, OR CONSEQUENTIAL DAMAGES WHATSOEVER RESULTING FROM ANY (I) ERRORS, MISTAKES, OR INACCURACIES OF CONTENT, (II) PERSONAL INJURY OR PROPERTY DAMAGE, OF ANY NATURE WHATSOEVER, RESULTING FROM YOUR ACCESS TO AND USE OF OUR WEBSITE, (III) ANY UNAUTHORIZED ACCESS TO OR USE OF OUR SECURE SERVERS AND/OR ANY AND ALL PERSONAL INFORMATION AND/OR FINANCIAL INFORMATION STORED THEREIN, (IV) ANY INTERRUPTION OR CESSATION OF TRANSMISSION TO OR FROM OUR WEBSITE, (IV) ANY BUGS, VIRUSES, TROJAN HORSES, OR THE LIKE, WHICH MAY BE TRANSMITTED TO OR THROUGH OUR WEBSITE BY ANY THIRD PARTY, AND/OR (V) ANY ERRORS OR OMISSIONS IN ANY CONTENT OR FOR ANY LOSS OR DAMAGE OF ANY KIND INCURRED AS A RESULT OF YOUR USE OF ANY CONTENT POSTED, EMAILED, TRANSMITTED, OR OTHERWISE MADE AVAILABLE VIA THE LENDPOOL WEBSITE, WHETHER BASED ON WARRANTY, CONTRACT, TORT, OR ANY OTHER LEGAL THEORY, AND WHETHER OR NOT THE COMPANY IS ADVISED OF THE POSSIBILITY OF SUCH DAMAGES.
THE FOREGOING LIMITATION OF LIABILITY SHALL APPLY TO THE FULLEST EXTENT PERMITTED BY LAW IN THE APPLICABLE JURISDICTION.
YOU SPECIFICALLY ACKNOWLEDGE THAT LENDPOOL SHALL NOT BE LIABLE FOR USER SUBMISSIONS OR THE DEFAMATORY, OFFENSIVE, OR ILLEGAL CONDUCT OF ANY THIRD PARTY AND THAT THE RISK OF HARM OR DAMAGE FROM THE FOREGOING RESTS ENTIRELY WITH YOU.
Lendpool Team – MMXVII
lendpool.com
admin@lendpool.com

This site is owned by Lendpool Inc.