These Terms and Conditions are applicable to the participation in the First-Investment-Guaranteed Program (hereinafter called “Program”) and can be downloaded when placing the First Order. The Program Terms and Conditions can at all times be accessed at: https://www.lendahand.com/pages/terms-conditions-first-investment-guarantee.
For the avoidance of doubt, if you invest under the Program on the Lendahand investment platform (platform), these Program Terms and Conditions will be regarded as binding, together with the overarching Website Terms and Conditions, the specific Product Terms and Conditions, the Debt Instrument Terms and Conditions and the Investor Referral Program Terms and Conditions. In case of conflict between the above-mentioned sets of terms and conditions, these Program Terms and Conditions prevail.
The investor who wants to participate in the Program must agree to the following conditions:
1. The Program ensures that the Investments that meet the criteria described in these Progam Terms and Conditions are guaranteed by the Crowdfunder, provided that all conditions mentioned herein are cumulatively met.
2. Term: The Start Date of the Program is: October 12th, 2023. The End Date of the Program is: December 12, 2023. NB. The End Date is not related to the maturity of the projects on the platform, but it only means the latest date on which investors can participate in the Program.
3. The Crowdfunder reserves the right to extend or shorten the Program Term at any time.
4. The Program is only available to natural or legal persons who have not invested on the platform before the Start Date of the Program. Each natural or legal person can only participate once during the Term of the Program.
5. These general terms and conditions, and participation in this Program, shall be deemed expressly agreed to and accepted by the investor upon entering the coupon code of the Program during the placement of the First Order on the platform."
6. Participation in the Program will be confirmed by the Crowdfunder in an email.
7. The Program applies to the First Order, up to the maximum amount mentioned under point 10 below. The First Order means the investment placed on the platform by an Investor who hasn’t previously invested in any project on the platform. The First Order can be invested in one project or multiple projects that are published on the platform, as long as they are ordered at the same time. For the purpose of the Program, it is not relevant when the investor opened the account on the platform, as long as the account is active.
8. The Crowdfunder’s guarantee covers only the principal amount of the First Order, and excludes the interest portion.
Example 1: Julia invests EUR 100 in Project A. The investment meets the criteria of the First Order and it is covered by the Program. Project A has 1 repayment of EUR 100 with 5% interest (EUR 5). For Julia EUR 100 is guaranteed, not EUR 105.
9. When claiming the guaranteee, interest shall not be taken into account. This means that if an investor initially invested EUR 100 and has already received a repayment of EUR 50 and an interest payment of EUR 5, he/she can still claim the remaining guaranteed amount of EUR 50 in the event of a write off of the project.
10. The maximum amount that is guaranteed for the First Order is: EUR 500.
11. If the First Order comprises multiple investments and its total exceeds the limit specified in point 10, all investments will be proportionally guaranteed up to that stated maximum.
Example 2: Julia places a First Order with 1 investment of EUR 1000 in project A. This means that Project A is guaranteed for EUR 500.
Example 2.1: Project A defaults after EUR 200 has been paid back (excluding interest), Julia can claim EUR 300 under the Program terms and conditions.
Example 2.2: Project A defaults after EUR 500 has been paid back (excluding interest), Julia can claim EUR 0 under the Program terms and conditions.
Example 3: Julia places a First Order with 2 investments. EUR 600 in project A and EUR 400 in project B. This means that Project A is guaranteed for EUR 300 and project B for EUR 200.
Example 3.1: Project A defaults after EUR 100 has been paid back (excluding interest). Julia can claim EUR 200 under the Program terms and conditions.
Example 3.2: Project A defaults after EUR 300 has been paid back (excluding interest). Julia can claim EUR 0 under the Program terms and conditions.
12. A claim may be filed by an Investor when:
(1) Lendahand notifies the Investor that the investment has been written off, OR
(2) A payment is overdue by more than 365 days (‘365-Day Grace Period’), and no subsequent payments have been received since that delay. Any subsequent payment stops the 365-Day Grace Period, including partial payments, restructured payments, or any other payment related to that investment project.
Example 4: Julia has a guarantee of EUR 500 in project A. EUR 400 has been repaid successfully.
Example 4.1: Julia is notified by Lendahand that Project A has been written off. Julia can now file a claim for EUR 100 under the Program terms and conditions.
Example 4.2: Project A has a late payment of more than 365 days and no subsequent payment has been made since that delay. The 365-Day Grace Period has expired and Julia can now file a claim for EUR 100 under the Program terms and conditions.
Example 4.3: Project A has a late payment of 180 days, and no subsequent payment has been made since that delay. The 365-Day Grace Period has not expired and Julia can not file a claim under the Program terms and conditions.
Example 4.4: Project A has a late payment of 30 days. On day 30 Lendahand announces a restructuring of the repayment schedule. A new payment is received according to the restructured repayment schedule on day 60. The 365-Day Grace Period is suspended and Julia can not file a claim under the Program terms and conditions.
13. After a claim is successfully filed by an investor and paid out by the Crowdfunder, the Crowdfunder is entitled to any subsequent (re)payments relating to the particular investment that the investor received compensation for.
Example 5: Julia has a guarantee of EUR 500 in project A. EUR 400 has been repaid successfully.
Example 5.1: The last repayment of EUR 100 is more than 365 days late. Julia files a claim and is repaid EUR 100 as part of the Program. Subsequently, a restructuring is announced and EUR 50 of the EUR 100 is repaid. This EUR 50 will be for the account of the Crowdfunder, and not repaid to Julia.
14. The investor can file a claim within 180 calendar days from the date when:
(1) he/she was notified of the investment write-off, or
(2) the 365-Day Grace Period ended.
15. The Crowdfunder is responsible for administering the claims filed by investors relating to the Program. In case of a valid claim by an investor, the Crowdfunder has 90 days after receiving the claim to disburse any funds to the digital wallet of this investor at the Payment Institution.
16. The investor is responsible for claiming his/her guaranteed investment amount by sending an email to [email protected]. The Crowdfunder is not responsible for inviting investors to execute their claim.
17. This Program is not valid in combination with other marketing programs and/or discounts, except for the referral program. In case a first time investor enters a referral code during the term of the Program, the first time investor will participate in this Program. NB. This means that investors who participate in the Program by entering a referral code, will not receive a discount to invest on the platform, but instead have their First Order guaranteed up to the maximum amount as mentioned in point 10 above. The (legal) person responsible for the invitation will receive their eligible discount.
18. Investors expressly agree to these general terms and conditions, and any revisions thereof, which shall be electronically transmitted. The Crowdfunder reserves the right to amend these general terms and conditions without the consent of Investors. Any changes to these general terms and conditions that materially alter the rights of Investors concerning the Program shall be communicated to Investors via email or through an announcement on the Crowdfunder's Website. If an Investor disagrees with the changes to the general terms and conditions, the Investor must notify the Crowdfunder thereof within 20 (twenty) Business Days of receiving the revised general terms and conditions. If an Investor objects to the revised general terms and conditions, the original general terms and conditions shall continue to apply for the duration of the Investor's existing First Order."
19. In case the Crowdfunder ceased to function or exist due to bankruptcy or insolvency, the Crowdfunder cannot be held to the above-mentioned obligations of the Program.