As an Investor on the Website intending to make use of the automatic investing (“Auto-Invest”) feature, you have read, comprehended, and assent to the following terms and conditions as contained herein.
Click here for the key investment information sheet at platform level.
1. Definitions
The following terms shall have the meanings indicated below:
1.1 Automatic Investing (Auto-Invest) Feature: The Website offers an automatic investing feature, meaning that if you select to enable such feature, your funds will automatically be debited from your wallet according to the conditions specified by you and invested according to the Investment Criteria you have selected.
1.2 Project Preferences (Current Investment Style): This style refers to the most recent mandate specified by Investors regarding the functionality of the Auto-Invest feature. Through this mandate, Investors specify the Investment Criteria under which their funds may be automatically invested. Investments are only added to the Investor's portfolio if they match the latest and therefore current specified mandate. For the avoidance of doubt, the mandate does not imply a specific risk profile of the portfolio itself, nor does it directly reflect the types of projects in the portfolio.
1.3 Investment Criteria: The Investment Criteria are: Minimum investment amount per project, Maximum investment amount per project, maximum investment amount per company, minimum Interest rate, minimum credit score, maximum maturity, currency and investment type (direct/indirect). If investment criteria change or new investment criteria are added by the crowdfunder, investors will be informed in a timely manner.
1.4 Investor: Any natural person or legal entity using the Auto-Invest feature.
1.5 Website: The Lendahand crowdfunding platform www.lendahand.com.
1.6 Crowdfunder: Hands-on B.V., a private company with limited liability, incorporated under the laws of the Netherlands, registered with the Dutch chamber of commerce under number: 55711766, with its statutory seat in Rotterdam, the Netherlands operating under the name Lendahand. Registered office address: Eendrachtsplein 3 – unit 2A, 3015LA Rotterdam, The Netherlands.E-mail address: [email protected] / VAT number: 851829260B01.
2. Applicability and Authorization
These Auto-Invest Terms and Conditions shall apply to all Investors that enable the Auto-Invest feature on the Website. Additionally, the Investors authorize the Crowdfunder to define and write any algorithms used as part of the Auto-Invest feature offered on the Website.
3. Operation of Auto-Invest
3.1 To enable the Auto-Invest feature, you must specify the investment criteria that determine in which projects your funds should be invested. If there are no published projects that match your Current Investment Style, no funds shall be debited from your wallet balance and no investments shall be made.
3.2 Once you have selected your Current Investment Style, the Auto-Invest feature will automatically invest in projects that meet the specified criteria. The system will invest in projects on a first-come, first-served basis until your available investment wallet balance is exhausted. You acknowledge and agree that the selection of investments made through the Auto-Invest feature is automatic and based solely on your specified Current Investment Style, and that the Crowdfunder does not participate in, contribute to, or influence the selection of projects in which you invest via Auto-Invest.
3.3 Repayments and interest payments shall also be automatically reinvested via Auto-Invest. When the Auto-Invest feature is enabled, you agree to the automatic investing in accordance with your most recent specified Current Investment Style.
3.4 If you have a sufficient wallet balance and multiple projects become available that match your Current Investment Style, your funds will be invested in all the published projects. If the amount is not evenly divisible, the amount will be distributed as evenly as possible.
3.5 If your wallet balance is insufficient, then the automatic investment will not be executed. Auto-invest will continue investing again when sufficient funds are deposited and/or repayments or interest payments are made into your wallet.
3.6 In the event that a project is nearly fully funded and there are multiple Investors with corresponding Current Investment Styles, investments will be randomly allocated among them.
3.7 You can view all and any information about investments made via Auto-Invest at any time in your personal environment on the Website.
3.8 You can invest in a project via Auto-Invest solely once. Should you wish to invest multiple times in the same project, you can always proceed with investing manually any desired amount via the Website. If in the future the Crowdfunder offers the option to make multiple investments in the same project, the Crowdfunder will inform investors about this possibility, and an investor must explicitly indicate this in their Current Investment Style.
4. Self-Investment
In addition to using Auto-Invest, the Investors shall always have the freedom to invest manually in published projects on the Website. These investments, if it concerns a loan project, will then be added to the Investors’ individual portfolio. The repayments and interest payments from these respective manual investments shall fall under the selected Current Investment Style as is then currently applicable and shall be reinvested accordingly.
5. Investors’ Responsibilities
The Investors must carefully set their Investment Criteria, which shall be assumed to be accurate and complete, given that automatic investments are carried out based on this Current Investment Style and that the Crowdfunder is not obliged to verify any investment criteria selection made by the Investors. Too strict preferences may result in a limited number of suitable projects available and may lead to underinvestment, and incomplete selection of the investment criteria may lead to misinvestment. For the avoidance of doubt, the use of Auto-Invest shall under no circumstances be considered as an investment recommendation and/or advice to the Investors by the Crowdfunder.
6. Risks
It shall be noted that investing on the Website via Auto-Invest carries its risks. Similar to manual investments, there is a possibility you may lose in part or in whole your investment. The Investor knowingly assumes all risks associated with the use of the Auto-Invest feature and accepts that the Crowdfunder does not provide any guarantees for the performance of the Investees with regard to investors’ investments.
7. Cooling-off Period
A pre-contractual cooling-off period of 4 (four) calendar days shall apply to the Current Investment Style. This entails that you can withdraw this automatic investment mandate within (four) calendar days after giving it.
8. Costs
The use of the Auto-Invest feature is free of charge. However, investments are subject to the usual risks and costs as described on the Website.
9. Changes to Terms and Conditions
The Crowdfunder reserves the right to unilaterally amend the terms and conditions contained herein for automatic investments and/or the criteria underlying the Current Investment Style, for instance, in response to changing market conditions and/or internal policy changes. The Crowdfunder will announce these changes to the Investors at least 30 (thirty) calendar days in advance.
10. Conflicts
The Website Terms and Conditions, the Investor Terms and Conditions, and these Auto-Invest Terms and Conditions are intended to be consistent with each other and should be read and interpreted together. However, if a conflict arises in relation to the Auto-Invest feature, these Auto-Invest Terms and Conditions shall prevail.
11. Modification or Termination
The Investors have the option to disable the Auto-Invest feature and/or modify the Current Investment Style at any time for any reason whatsoever. Investments made prior to the modification of the mandate will not be removed or adjusted to comply with the new mandate. The Crowdfunder reserves the right to terminate or suspend the Auto-Invest feature at any time, due to including but not limited to cases of abuse, non-compliance with the terms, or due to internal decision-making. Investments made under a valid mandate will not be nullified but processed according to the appropriate repayment schedules and/or procedures.
12. Data Protection
Personal data collected in the context of Auto-Invest will be processed in accordance with the Crowdfunder’s Privacy Statement which can be found on the Website at the following link https://www.lendahand.com/en-EU/pages/privacy-statement.
13. Governing Law, Disputes and Court
These Auto-Invest Terms and Conditions shall be governed by the laws of the Netherlands. All disputes arising from the use of Auto-Invest or these terms and conditions shall in the first instance be brought to the Court in Rotterdam.