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Terms of Service

  1. GENERAL
    1. These terms and conditions (“Terms”) for the website reinvest24.com (“Website”) regulate the terms and conditions of the use of applications and services of the Website, including rights and obligations related to the use of Website by any user of the Website (“User”)”. The Website is owned and operated by Reinvest24 OÜ (“Operator”).
    2. In addition to these Terms, the User is subject to the Website privacy rules available here https://www.reinvest24.com/en/privacy-policy.
    3. By registering an account with the Website, the User confirms that it has duly examined these Terms in full, understands them and agrees to these Terms and the Website privacy rules.
  2. USER REQUIREMENTS
    1. The User of the Website can only be a:
      1. natural person of at least 18 years old whose active legal capacity is not restricted. Natural persons who are at least 16 years old (but not yet 18 years old) may be Users of the Website as an exception if the parents have given their written consent by signing a relevant form provided by the Operator;
      2. legal person, which is entered into its respective national company registry.
      3. A legal person can register as a Website user only through its representative who is a natural person.
  3. USER IDENTIFICATION AND “KNOW YOUR CLIENT” RULES
    1. When registering as User, the applicant enters their email address, selects a password and submits other information and documents requested by Website at Operator's discretion. The User understands that this email will be used by the Operator as an official means of communication with the User and all notices by the Operator shall be sent to that email submitted upon registration.
    2. Each User must present to the Operator all necessary information, documents and other evidence necessary for verification of their identity if requested. The Operator may request the User to submit an electronic copy of their identity document. The Operator may also ask additional documents confirming the identity of the customer and documents proving the source of the funds transferred by the User to the Operator. If the User refuses to submit requested documents, the Operator has the right to terminate the User’s account in accordance with Section 20.2.
    3. The password chosen by the User is personal to that User and is only used to identify the User when the User logs onto the Website and makes transactions via the Website. The Operator may allow the User to access the Website via their accounts in social media sites like Google, LinkedIn or Facebook, etc.
    4. The User undertakes to keep their password confidential. It is presumed that the person logged in with the password has an authorisation, arising from either law or contract, to make transactions in the name of the User. The Operator can restrict the User's rights or refuse to follow the User's instructions, inter alia, in case the Operator considers that there is a risk that unauthorised third person possess the User's password.
  4. USER ACCOUNT
    1. Each User has a personal account in the Website with the aim to reflect the balance of funds that the User has transferred to the Operator’s payment account with the purpose of transactions made or to be made by the User (“Account”).
    2. Unless otherwise stated in these Terms, the User shall have the right to withdraw the positive balance reflected in the Account at any time and in any amount by submitting the respective request to the Website. The Operator shall transfer the funds only to the same person who initially sent the funds to the Operator in the name of the User.
    3. The Operator can, at its own discretion, impose restrictions or requirements to the allowed minimum or maximum amounts of funds held on the Account.
    4. The Operator keeps the funds transferred by a User as a mandatary in the Operator's own name on an Operator’s designated payment account. The Operator keeps the relevant funds separately from its own funds.
    5. The Operator does not calculate any interest and no interest is payable to a User on the funds transferred to the Operator.
    6. A User can enter into transactions via the Website, including grant a loan or make other payments, only from the funds that the User has previously transferred to the Operator’s payment account, less the amount of other financial obligations or instructions of the User which are performed under the provisions of these Terms, but which are reflected on the Account as positive balance of the User's funds.
    7. If a User has made a transaction via Website, the positive balance of the User's funds reflected on the User’s Account is reserved in the necessary extent until any payment arising from or pursuant to such transaction is made, and no other transaction or withdrawal by the User can be made on account of these funds.
    8. The Operator may use the User’s funds received and reflected on the Account to carry out any transactions made and actions taken by the User via Website in accordance with the Terms and other contracts and agreements entered into by the User. Among other things, the Operator may use the relevant User’s funds for discharging their debts to other Users, third persons or the Operator.
  5. REQUESTING FINANCING
    1. To request a funding for a project, the person, who wishes to apply for a loan ('Borrower') or the SPV submits information to Operator about the requested loan or funding (“Loan Request”).
    2. The Loan Request is made available on the Website by the Operator and must contain the following data:
      1. minimum amount of the funding target;
      2. maximum amount of the funding target;
      3. time period during which the Loan Request is effective, which is extendable; and
      4. the principal loan terms of the requested loan which include, among other things, the loan amount, currency, manner of repayment, loan period, interest rate, manner of interest payments, purpose of the loan and type and scope of security.
    3. The Loan Request will be published on the Website to all Users or to a group of Users selected by the Operator. The Operator can allocate a risk category to the relevant Loan Request at its own discretion.
    4. The Loan Request terminates without financing obligation to the Users if the funding of the Loan Request does not reach at least the minimum amount of the funding target. If the Loan Request terminates without a financing obligation, all amounts reserved on the User’s account shall be unreserved within 30 days beginning from the end of the offer term (or if the offer term is extended, then beginning from the end of the extended offer term).
    5. The Loan Request is an offer with a fixed term for acceptance, whereas the term can be extended, and addressed to a specified group of persons, to enter into a loan contract within the meaning of the Law of Obligations Act:
      1. which is addressed to all the Users;
      2. which constitutes a proposal to enter into loan contract(s) for receiving of loan(s) from Users in an aggregate principal amount of up to the loan amount shown in the principal loan terms forming part of that Loan Request;
      3. with the making of which the person making such Loan Request expresses its intention to be legally bound by the loan contract(s) to be entered into upon acceptance or acceptances given in respect of that offer; and
      4. where an acceptance given in respect thereof results in a loan contract having been entered into.
  6. PROVIDING FINANCING
    1. The User who wishes to invest in loans must complete the User verification procedure in a manner prescribed by the Operator. For clarity, the user consents that the Operator may use a third party for verification procedure. The Operator may, at its own discretion, refuse to allow the User to grant loans or prescribe other conditions for granting loans. The User shall notify Website in case the User is acting as a creditor in their economic or professional activity. In case of a breach of the obligation to notify the User is liable for all direct and indirect damage and expenses which have occurred or may occur in the future to Website or other persons due to the breach of the obligation of the User.
    2. An acceptance in respect of a Loan Request may be given by a User who has funds available on their Account at least in the amount in which the User wishes to grant a loan to the person who made that Loan Request.
    3. In order to give an acceptance in respect of the Loan Request for the purposes of entering into a loan contract, the relevant User must enter, by using the relevant Website application, their intended loan amount on the Website page displaying the relevant Loan Request, and confirm their wish to enter into a loan contract in accordance with the procedure provided for in Section 9.
    4. By giving an acceptance, the User expresses their intention to be legally bound by the loan contract to be entered into through the giving of that acceptance; the acceptance cannot be withdrawn.
    5. If more than one User gives their acceptance in respect of a Loan Request, the loan contracts are deemed to have been entered into in a chronological order of acceptances and only insofar as such acceptances have been given in an aggregate amount of loan equal to the maximum amount of the funding target. The loan contracts are concluded on first-come, first-served basis. In case the Loan Request exceeds the maximum funding target, the Users who submitted their acceptances to the Loan Request after the maximum funding target was reached, will not be deemed to have entered into a loan contract in regard to the project and funds reserved on their Account will be unreserved within 30 days beginning from the date the maximum funding target was reached.
    6. The loan amount specified in any acceptance:
      1. may not be less than EUR 1;
      2. shall be a multiple of EUR 0.01, and
      3. may not exceed the maximum amount of the funding target.
    7. Following the acceptance of the Loan Request, the Website prepares a transcript of the loan contract in pdf-format (which may comprise one or several documents), which will be made available to the User on the Website. The loan contracts will enter into force only if the minimum funding target has been reached.
  7. PERFORMANCE OF THE LOAN AGREEMENT
    1. The loan agreements are concluded between the User and the Borrowers. There are two types of the Borrowers. First type of the Borrower is company specially established by the Operator for receiving the funding for the project presented in the Loan Request (“SPV”). The second type of the Borrower is a company which is not SPV, who wishes to request funding for the project presented in the Loan Request (“Project Owner”). The Borrowers can only be legal persons.
    2. The Operator transfers the loan amounts to the Borrower in the amount provided in the loan contracts signed by the Users. The loan amount(s) are deemed to have been transferred to the Borrower from the moment they are reflected on the payment account of the Borrower.
    3. The Borrower may repay a loan prematurely. Exact conditions of the premature repayments must be agreed with the Operator. To repay a loan prematurely, the Borrower must send a notice which is delivered to all Users to the loan contracts entered into for the funding of the relevant project. The notice of repayment cannot be withdrawn and upon expiry of the term of advance notice provided for in the loan contract, the loan and all other financial obligations specified in the loan contract and also the contract(s) for establishing the relevant security (“Loan Documents”) become due and payable in full.
  8. SALE OF THE CLAIMS ARISING FROM THE LOAN CONTRACTS ON THE SECONDARY MARKET
    1. User may assign a claim or a part of it to another User of the Website, except to the User the claim is against. In that case, the contract of sale shall be concluded on the Website.
    2. The minimum amount of a claim to be must be a multiple of EUR 0.01. The Operator may impose limitations to the minimum amount of the claim which can be sold on the secondary market (e.g. raise the minimum amount of the claim which can be sold on the secondary market).
    3. The User shall make a proposal to conclude a contract of sale via their Account in which they specify the conditions for the assignment of the claim or partial assignment of the claim, including:
      1. name of the project to which the loan was made;
      2. the amount of the claim to be assigned;
      3. the interest rate determined in the contract;
      4. the price of the claim to be assigned;
      5. the repayment date determined in the contract.
    4. The proposal described in Section 8.3 is deemed to constitute an offer with a fixed term for acceptance and addressed to a group of persons, to enter into a contract of sale within the meaning of the Law of Obligations Act, whereby:
      1. the offer is addressed to all Users of the Website, except to the User the claim is against;
      2. with the making of an offer the User expresses an intention to be legally bound by the acceptance given in respect of that offer or the contract of sale to be entered into upon the acceptance; and
      3. by obtaining an acceptance to an offer, the contract of sale is entered into in respect of the price, as specified by the User and confirmed by the accepting User, and other conditions, as specified in the General and Principle terms of the contract of sale, immediately upon confirmation of that acceptance in accordance with the procedure provided for in Section 9.
    5. A User may give an acceptance to an offer to enter into a contract of sale only if the User has funds available on their Account at least in an amount to the extent of which the User wishes to acquire the claim.
    6. By giving an acceptance and entering into a contract of sale a User expresses their intention to be legally bound by the loan contract from which the claim arises; an acceptance cannot be withdrawn, unless otherwise stated by law.
    7. Before giving an acceptance to an offer, a User shall be granted an opportunity by the Operator to examine the general terms of the loan contract in an extent that is necessary for giving an acceptance.
    8. The Borrower is automatically informed of an assignment of a claim via the Website.
    9. After the conclusion of a contract of sale, the Operator shall debit the Account of the User who bought the claim and credit the Account of the User who sold the claim in an amount of the price of the assigned claim.
    10. Upon the completion of the sale of the claim in accordance with Section 8.9 above the Operator shall have the right to withhold a transaction fee as indicated in the Price List from the buyer of the claim.
    11. Upon the conclusion of the contract of assignment all agreements related to the additional interest payable to the User selling their claim shall be transferred to the assignee of the claim.
    12. In matters not regulated in this Section 8 or by the contract of sale which is concluded between the parties, Terms shall apply, including payment defaults, enforcement of security, authorisations of the Operator, procedure of solving disputes and regulations for other matters.
  9. CONFIRMATION OF TRANSACTIONS IN WEBSITE
    1. All the User's activities performed on the Website after logging onto the Website shall be regarded as the User's signature and/or acceptance in the meaning of applicable law. By giving a confirmation on the Website, the User expresses their irrevocable intention to be bound legally by the confirmed transaction or action.
    2. In cases specified by Website, a User must confirm a transaction, agreement or action connected with use of Website in a written or notarial form.
  10. PROCEDURE OF PAYMENT
    1. The procedure of payments provided for in this Section 10 applies to all transactions and actions made via Website, including repayment of loan, prepayment of loan, payment of Loan Return or default interest, or other payments to be made under or pursuant to the Loan Documents.
    2. On the day when a User’s financial obligation becomes due (or in cases specified in the Terms, on the day when that financial obligation is committed to), the User must have free funds on its Account to perform the relevant obligation in a full amount of that financial obligation. If there are no funds on the Account of such User, the User has breached their financial obligation to the extent of the missing amount.
    3. If under loan contracts or other Loan Documents entered into for the funding of the same project the Borrower must at the same time perform a financial obligation to multiple Users and there are no free funds for the performance of all the relevant financial obligations, the insufficient funds transferred by the Borrower to the Operator are to be applied towards performance of those financial obligations to all the relevant Users proportionally with the ratio the outstanding balance of the loan amount granted by a User bears to the aggregate outstanding balance of loan amounts granted under all loan contracts entered into for the funding of that project. In circumstances where the above specified financial obligations are not due to be performed on an equivalent ground or have fallen due at a different time, the sequence in which the obligations owed are deemed to be performed shall be based on the order of application of insufficient payments described in General loan terms and on the principle that in the performance of the financial obligations that have arisen on an equivalent ground the chronological order in which those obligations fall due shall be followed.
    4. The Users may not perform their financial obligations they owe by way of set-off or by making withholdings or deductions from the amounts payable by it without the consent of the Operator given in a format which can be reproduced in writing.
    5. Delay with the performance of the obligations of a User arising from the loan contracts (first of all the return of the loan amount and the Loan Return) which does not exceed 3 calendar days shall not amount to the breach of the obligations of the User in the meaning of Section 10.2. In case of a delay with the payment of no more than 3 days late payment interest will not be applied.
  11. PAYMENT DEFAULTS AND OTHER BREACHES
    1. If the Borrower does not perform any financial or non-financial obligations arising from a loan contract, these Terms or other Loan Documents, in a timely manner, or if a ground for extraordinary cancellation of a loan contract arises, the Operator and/or Collateral Agent can conduct any actions or take steps on behalf of the User(s) and/or itself that the Operator and/or the Collateral Agent considers at its own discretion to be necessary or desirable to achieve the performance of the relevant financial or non-financial obligation and/or cancellation of the loan contract or the use of other legal remedy.
    2. The Operator and/or the Collateral Agent may:
      1. send reminders, balance notices and warnings to the Borrower (including bankruptcy warnings) by the means provided for in the Terms or by any other means;
      2. commence court proceeding, enforcement proceeding, and bankruptcy or other insolvency proceeding, by the procedure provided for by law and in accordance with these Terms, including participate in the relevant proceeding as a representative of the User and on behalf of the User;
      3. extraordinarily cancel the loan contract on grounds provided for in the loan contract or on grounds provided for by law; or
      4. if the relevant obligation is secured, organise enforcement of security by the procedure provided for by law and the relevant agreement of establishment of security (pledge agreement).
    3. By registering as a User, each User gives instructions, consent and authorisation to the Operator and the Collateral Agent, with the right of sub-delegation, to carry out, on behalf of the User and as their representative, the actions and steps described in Sections 11.1 to 11.2 of these Terms at their own discretion, with the Operator and the Collateral Agent being entitled to use for the carrying out of such actions and steps third persons whose economic or professional activity includes collection of debts and the provision of related services (including lawyers, persons providing collection services, bailiffs or other persons). The above described instructions and authorisation also includes the right of the Operator and the Collateral Agent to perform any action and/or transaction on behalf of and as a representative of the User which in the Operator's and/or Collateral Agent's opinion is necessary for the assignment described in Section 11.5 to be valid.
    4. If the Operator or the Collateral Agent delivers the relevant notice ('assignment notice') to a User and debtor by the procedure provided for in Section 13, all claims arising from the Loan Documents relating to the claims that have fallen due against the debtor are deemed to be automatically assigned to the Operator or the Collateral Agent as specified in the assignment notice. The respective claims are deemed to be assigned from the moment the addressee has received the assignment notice according to Section 13.3.
    5. The Operator and/or Collateral Agent may cease to carry out the actions described in this Section 12, or not apply them, if in the Operator’s and/or Collateral Agent’s opinion performance of the due claims is unlikely as the result of the relevant actions or the benefit likely to be received as the result of the relevant actions and steps is less or in a similar scale with the expected costs of the relevant actions and steps. The Operator informs the User about the cessation or non-application of the relevant actions and/or steps by the procedure prescribed in Section 13. Following delivery of the above notice, on request of the User, the Operator and/or Collateral Agent may (but is not required to) re-assign to the User at the cost of the User the due claim(s) previously assigned by that User to the Operator or the Collateral Agent pursuant to the procedure of Section 11.4 of the Terms.
  12. COLLATERAL AGENT
    1. The collateral(s) referred to in the principal loan terms must be established in favor of the collateral agent ('Collateral Agent').
    2. The Collateral Agent keeps the collateral(s) provided in connection with a secured loan in its own name in the interests of User(s) and performs actions and transactions related to the relevant collateral(s), inter alia, on the basis of instructions given by the Operator on behalf of the Operator itself and/or the User(s). The Collateral Agent has, amongst others, the rights and authorisations described in Section 12 of these Terms.
    3. If the Collateral Agent has received funds for the User and/or Operator as a result of actions carried out with the aim of collection or enforcement of any claims (including realisation of security), the Collateral Agent transfers the relevant funds to the Operator (having previously deducted and paid all costs and fees incurred or calculated by it in relation to the relevant actions) who records the relevant proceeds on the Accounts of the Users in the applicable amounts. The above also applies in a situation where the Collateral Agent has carried out relevant collection or other enforcement actions on a ground arising from any agreement on parallel obligation provided for in the General loan terms and/or in the agreement establishing the relevant collateral (pledge agreement).
    4. The Collateral Agent keeps the funds referred to in Section 12.3 as a mandatary (käsundisaaja) in the Collateral Agent's own name on the Collateral Agent banking account opened for that purpose 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. The Collateral Agent keeps the relevant funds separately from its own funds. The Operator does not calculate, and no interest is payable to the User on the funds received by the Collateral Agent.
  13. NOTICES
    1. All notices related and in connection with the Website concerning the User are delivered through the email provided by the User upon registration. This includes any notices with legal consequences, notices based on or related to a loan contract and other Loan Documents.
    2. The Operator and Collateral Agent may, at their own discretion, send notices to the User also by post, using the contact information provided by the User upon registration or after the registration date.
    3. Notices delivered to or through the email are considered as received by the addressee within 2 working days after the sending of the relevant notice.
  14. AMENDMENTS TO THE TERMS AND LOAN DOCUMENTS
    1. The Operator may unilaterally amend these Terms and the relevant amendments take effect from the moment they are published on the Website.
    2. Where the Users and/or the Borrower wish to amend a loan contract already entered into, the negotiations regarding the amendments shall be held by the Operator and/or the Collateral Agent, acting as the representative of the User and in the interest of the User. Operator or the Security Agent may sign the amended contract as the representative of the Users in one or several of the following ways::
      1. extend any due term for payment by up to 6 months;
      2. extend partially or fully any due term for repayment of the principal part of the loan by more than 6 but not more than 12 months provided that at the same time the interest rate of the relevant loan is increased by at least 3% per annum;
      3. reduce or increase the rate of default interest by up to 2%;
      4. give additional time periods for rectifying and/or eliminating any breaches of non-monetary obligations but not more than up to 2 months from becoming aware of the breach of the relevant obligation;
      5. if the loan is secured, extend the deadline for establishing the relevant collateral(s) by up to 10 working days;
      6. if the loan is a secured loan, consent to the replacing or supplementing the asset that is subject to security or to the giving of additional collateral if in the Operator's opinion this does not materially prejudice the interests of the User; or
      7. make other amendments, including give instructions to the Borrower on the manner of performance of the Loan Documents from time to time or give consents to deviations from the terms of the Loan Documents if the relevant amendments, instructions or deviations are of a technical nature, made for the purpose of correcting errors or if in the Operator's opinion this does not materially prejudice the interests of the User.
  15. TRANSFER OF RIGHTS AND OBLIGATIONS
    1. The User may not assign or otherwise transfer the rights and obligations arising from these Terms or Loan Documents to a third person without the consent of the Operator and the Collateral Agent.
    2. The consent is not necessary in case of an assignment (sale) of claims by a User to another User in accordance with the procedure provided for in Section 8.
  16. FEES AND COSTS
    1. Unless stated otherwise in the principal loan terms, the Users undertake to pay the following fees to the Operator:
      1. Intermediation Fee;
      2. Administration fee;
      3. Fee for recovery of the debt(s);
      4. Other fees agreed on in the principal loan terms.

      The exact amount of each fee is provided for on a separate pricelist (“Price List)”.

    2. Fees provided for in Section 16.1 of these Terms are paid by the User upon giving acceptance to the funding of a project. If the project does not reach the minimum amount of the funding target shown in the relevant Loan Request, the fees paid shall be repaid by the Operator to the Users.
    3. Fees provided for in Section 16.1 do not include value added tax, which is added to the fees if required by law.
    4. The Operator may issue an invoice in respect of the transaction fee or other fees (if applicable) to the Borrower before the relevant fee falls due and payable but failure to issue the invoice does not release the User from the payment obligation.
    5. The Operator may unilaterally at its own discretion waive or decrease any fees payable to the Operator and/or the Collateral Agent.
    6. The Operator can set off the fees, costs and/or losses to be paid or compensated to the Operator and/or Collateral Agent against the funds shown on the Account of the relevant User.
  17. LEGAL STATUS AND LIMITATIONS OF RESPONSIBILITY OF THE OPERATOR
    1. The services provided by the Operator and the Collateral Agent do not include the following:
      1. guaranteeing or otherwise underwriting the availability or accessibility of funds to the Users, or ensuring the performance of the financial obligations of the User(s);
      2. accepting of deposits or other refundable instruments;
      3. providing investment or legal advice;
      4. undertaking real-estate transactions or providing advice in respect of the same; or
      5. provision of payment services in the meaning of Payment Institutions and E-money Institutions Act.
    2. In addition to the referred above, the Operator performs merely an administrative function in the execution and performance of the Loan Documents in order to facilitate the performance of the Loan Documents and communication between Users. When collecting any amounts owed by the Borrower, each of the Operator and the Collateral Agent acts at its own discretion on the basis of what the Operator considers to be, and in the Operator's experience is, in the best interests of the User.
    3. The Operator and the Collateral Agent are not parties to the loan contract(s) entered into via Website but the Operator and/or the Collateral Agent are entitled to rely on the provisions of the loan contract and demand on their own behalf the performance of certain provisions of the loan contract.
    4. Among other things, the Operator and the Collateral Agent are not liable for:
      1. performance of the User's obligations;
      2. validity or accuracy of information and/or confirmation(s) published or provided by Users or Borrowers in the Website, including the information provided by the Project Owners in the Loan Documents; among other things, the above specified limitation of liability applies also to any details and other information published on the Website in respect of Projects and Users and also information published by the Operator in case the Operator had not published false or inaccurate information intentionally;
      3. any disruptions or impediments that may occur in the operation of any credit institution the Operator and/or Collateral Agent holds the funds transferred to them in connection with the funding of the projects, including for any losses (kahjud) which may directly or indirectly be incurred as a result of the insolvency or moratorium of such credit institution or any other similar event;
      4. losses incurred as a result of any act or failure to act by the third persons referred to in Section 11 whose economic or professional activity includes collection of debts and the provision of related services;
      5. legal binding effect, scope, content, suitability and enforceability of contracts and other legal documents used on Website, including those used for the carrying out of transactions through Website;
      6. bugs or disruptions that occur in Website or amendments made in Website or the consequences of termination of the operation of Website;
      7. trueness and accuracy of any forecasts, including financial indicators and forecasts of any project, published on Website;
      8. circumstances that derive from or depend on the identity of a User;
      9. losses incurred as a result of the materialisation of the risk referred to in Section 3.3 of these Terms;
      10. non-monetary damages, loss of profit or other indirect losses, or other damages caused because of its conduct other than intentional misconduct.
    5. Publishing a Loan Request and assigning a risk category to it in the Website does not constitute an investment recommendation or other endorsement by the Operator in respect of the relevant Loan Request or the Operator's confirmation or any other indication that the person making the Loan Request is creditworthy, the relevant project is viable, or that the User will get the relevant investment back or make any profit from it.
    6. The Operator may make any changes on the Website, including expand, change or remove its functions, at its own discretion at any time without asking permission of the Users or giving a prior notice. Among other things, the Operator may terminate the operation of the Website at its own discretion at any time.
  18. GENERAL OBLIGATIONS OF THE USERS
    1. The User must assess the suitability and risk of any relevant transaction and Loan Request and, if necessary, use the help of advisers who are specialists in the relevant field.
    2. The User confirms that they understand the risks involved in using Website (including the possibility that they might not get back their investment or make the expected profit from it) and acts only at their own risk.
    3. The User bears all costs, fees, duties and taxes accompanying the use of Website.
    4. The User must declare and pay the taxes payable in connection with transactions and actions made via Website. The User understands that neither the Operator nor the Collateral Agent will not declare or pay any taxes on behalf of the User, unless required so by the law.
    5. The User agrees and confirms that:
      1. performance of loan contracts and other Loan Documents, including communication between Users relating to the entry into or other matters relating to Loan Documents, may only take place by the procedure prescribed in these Terms and the Loan Documents via and with the assistance of Website, except in case the Operator or the Collateral Agent have given prior consent in a format which can be reproduced in writing;
      2. collection of any financial obligation arising from a loan contract, these Terms or other Loan Documents may take place only by the procedure prescribed in Section 11 through and with the help of the Operator and/or Collateral Agent and that the User has no right to take such actions or steps independently except in case the Operator and/or Collateral Agent has given prior consent in a format which can be reproduced in writing; and
      3. any matters and other information it becomes aware of through, or in the course of, the use or access to Website, may be used by the User for the purposes of using Website services only and not for any other purposes;
      4. any information provided or to be provided to the Operator, Collateral Agent, another User or otherwise via Website is true and accurate;
      5. in delivering notices and in other communication via Website a User treats the addressees of the notices respectfully and politely.
  19. TERMINATION
    1. At the request of the User, the Operator terminates the User status of that User if they are not a party to any loan contract, the relevant User has no monetary claims against any other User in connection with the use of Website and the relevant User has performed all financial obligations incurred towards the Operator, Collateral Agent and any other user in connection with the use of Website.
    2. The Operator may, at its own discretion, terminate the User status or restrict the User rights at any time without justification by informing the relevant User by the procedure described in Section 13.
    3. Before the User status is terminated, the User is obligated to submit a request to transfer the positive balance of the funds on the Account of the User to User’s payment account. When the User status is terminated, the Operator may transfer the positive balance of the funds reflected on the Account of the User to that User's payment account from which the User has previously transferred funds to the Operator.
    4. Declaration of bankruptcy of the Operator or termination of the Operator's activities for other reason does not affect the validity of the Loan Documents already entered into (unless otherwise stated in the loan contract).
    5. Upon termination of activities of the Website or Operator:
      1. the syndication period of each active Loan Request lapses prematurely;
      2. the Operator transfers each User their positive balance of funds reflected on the Account of the User;
      3. The Operator gives, by the procedure prescribed in Section 13, instructions to the Users regarding matters relating to further performance of the Loan Documents to the extent due performance of the relevant Loan Documents is not possible without the help of the Operator.
    6. The Operator and/or Collateral Agent may provide to the parties of Loan Documents all relevant information about the other party or parties to the Loan Documents including their contact and current Account details and other information related to the Loan Documents.
  20. FINAL PROVISIONS
    1. Place of performance of the obligations arising from these Terms and Loan Documents is Republic of Estonia.
    2. These Terms and other circumstances, actions and transactions relating to the use of Website are governed by Estonian law.
    3. Disputes between the Users or between the User and the Operator and/or Collateral Agent, including the ones based on any Loan Document, will be resolved by way of negotiations. In case of failure of negotiations, such disputes are resolved in Estonian courts.
    4. Information made available on the Website is not intended to be delivered to or used by persons in any jurisdiction in which it is not permitted or in which its permissibility is restricted by law or other regulations.
    5. Users may not to copy, download, save, reproduce, print or otherwise process, whether in part or in full, the content of the Website without the prior written consent of the Operator. Notwithstanding the foregoing, the User may print or save the Website content in the necessary extent if the User does so only for personal use and only to the extent reasonably necessary for the User to use the services of Website.
    6. The User refrains from using technical equipment, applications or solutions (including computer programmes) the aim or function of which is an automated use, reading, collection, recording or other processing of the Website's content or data recorded in it.
    7. The Website is available in multiple languages. In case of discrepancy between the texts, the English text shall be deemed as correct.