Terms and conditions

These general conditions of use (hereinafter the "General Conditions" or the "SHELTERS GCU") provide a legal framework for the use of services (hereinafter the "Services"), including access to the shelters.finance platform, accessible at https://www.shelters.finance (hereinafter the "Platform"). This platform is operated by SHELTERS VENTURE, a simplified joint stock company with capital of 1,750.00 euros, whose registered office is at 17 Place Tabareau, 69004 Lyon, and which is registered with the Lyon Trade and Companies Registry under number 951 452 119 (hereinafter "SHELTERS" or the "Company").

The General Terms and Conditions, together with all documents to which they refer, constitute a contract (hereinafter the "Contract") between SHELTERS and any natural or legal person, whether professional or not, who is a user of the Platform and a holder of any services issued by the Platform, including in particular fractions (hereinafter the "User"). Each party is individually referred to as a "Party" and collectively as the "Parties", using all or part of the Services.

Use of the Services on the Platform by the User implies unreserved acceptance of these Terms and Conditions, which the User is deemed to have reviewed.

The site is hosted by Amazon Web Services (AWS) at https://www.aws.amazon.com/.

The terms below, whether used in the singular or plural and capitalized, and unless otherwise stated, shall have the following meanings:

« Blockchain »: Refers to a technology for storing and transmitting information. This technology provides high standards of transparency and security as it operates without a central controlling authority. In the present case, the Blockchain used is called MultiversX.

« Fundraising » (Collecte): Refers to the action of gathering the funds necessary to finance the Project to be funded.

« User Personal Account » or « User Account »: Refers to the personal space of a User on the Site. This space is accessible only through the use of login credentials and allows access to the Services provided by the Company. It also allows the User to view and modify their own personal data.

« Bond Agreement » (Contrat Obligataire): A contractual document defining the legal and financial terms of the Financing Operation (amount, duration, interest rate, repayment terms, distribution schedule, associated risks). It materializes the User’s claim and prevails over any other information in the event of inconsistency.

« Contributor »: Refers to the User who wishes to financially support the Project through a Contribution as part of an opportunity offered on the Platform and who has entered into a Bond Agreement.

« Contribution »: The amount invested by a User as part of a Financing Operation, in consideration for the subscription to a Bond Agreement associated with a real estate project.

« Financial Rights »: Rights attached to the holding of a Token related to a Financing Operation, granting access to the contractually defined financial flows, in particular the repayment of the invested capital and the associated interest.

« Financing Operation »: Refers to the financing operation carried out through the Project and governed by the Bond Agreement.

« Detail Page »: Refers to the page created on the Site https://www.app.shelters.finance by the Company, based on dedicated information and documents, for the purpose of presenting a Project during a Contribution Phase.

« Frequency »: Refers to the schedule for reporting and payment of instalments during the term of the contract. This frequency is monthly.

« Contribution Phase »: Refers to the period during which Users may participate in a Financing Operation. The duration of this period is determined by the Platform in the Bond Agreement.

« Payment Service Provider » or « PSP »: Refers to one or more licensed service providers used by the Platform for the management of payments on the Site. These providers are respectively Stripe Technology Europe, whose registered office is located at Grand Canal Street Lower, Dublin, Ireland, and xMoney, whose registered office is located at Tornimäe tn 3/5, Kesklinna linnaosa, Tallinn, Harju maakond, 10145.

« KYC Procedure »: Refers to all user identification measures carried out by SHELTERS and its service provider Veriff, for which the User undertakes to provide any supporting documents necessary to verify their statements upon first request. Veriff, whose registered office is located at 39 Tatari St., 10134 Tallinn, is a regulated European company entrusted with full responsibility for supervising the Company’s anti-money laundering (AML) program. Veriff is fully compliant with CCPA/CPRA, GDPR, SOC 2 Type II, ISO 27001, and WCAG Accessibility Guidelines.

« Project » or « Project to be funded »: Refers to any acquisition or refinancing project of a rental real estate asset carried by the Platform and published on the site https://www.shelters.finance.

« Individual Share »: Refers to the proportion of participation held by a Fraction holder in an operation offered by the Platform.

« Complaint »: Refers to any statement expressing a User’s dissatisfaction with SHELTERS and its Services. A request for information, opinion, clarification, service, or performance does not constitute a Complaint.

« Financial Flows »: Payments made for the benefit of the User in execution of the Bond Agreement (interest, repayment of capital, potential distribution following the resale of an asset). Their existence and amount depend on the performance of the financed project in accordance with the signed contract. The amount and existence of Financial Flows depend on the relevant Bond Agreement.

« Services »: Refers to the services covered by these General Terms and Conditions, made available to any User on the Site https://www.shelters.finance and provided by the company SHELTERS VENTURE.

« Stablecoins »: Digital assets indexed to a fiat currency (e.g. EUR/C), which may be distributed to the User in settlement of financial flows linked to the Bond Agreement. Once transferred to the Wallet, they become the exclusive property of the User and no longer appear on Shelters’ balance sheet.

« Success Threshold »: Refers to the minimum total amount of Contributions received from Contributors as part of the Financing Operation contemplated by the Platform, conditioning the final completion of the Financing Operation. This amount corresponds to the sum required to carry out the Project to be funded, as indicated on the Project Detail Page of the Platform. It varies depending on the Financing Operation.

« Site » or « Platform »: Refers to the website through which SHELTERS makes its Services available to Users.

« Token » or « Fraction »: A non-fungible digital token (NFT) issued by Shelters on the MultiversX Blockchain, representing the digital materialization of the bond claim held by the User under the relevant Bond Agreement. The Token does not constitute a real estate ownership title, a shareholding interest, or a financial instrument granting voting or governance rights, but solely the technical and transferable representation of the contractual right.

« User »: Refers to any user of the Services offered by SHELTERS on the Site, in compliance with these General Terms and Conditions, who is of legal age, legally capable, and subject to a valid KYC Procedure.

« Individual Payment »: Refers to the amount paid by the Contributor as part of the Financing Operation, which must be greater than the Minimum Individual Payment.

« Maximum Individual Payment »: The maximum amount that a User may invest in a Financing Operation, as defined for each project in the Bond Agreement and/or its related documentation.

« Minimum Individual Payment »: Refers to the minimum amount that may be accepted as a Contribution by the Platform from the Contributor under a Bond Agreement entered into between the Parties.

« Visitor »: Refers to any natural or legal person browsing or consulting the Site without registering as a User.

« Digital Wallet » or « Wallet »: Refers to the digital asset storage device used to hold Tokens. It is strictly non-custodial, with the User retaining exclusive control over their assets. Shelters cannot access or recover private keys.

These General Terms and Conditions are intended to govern access to and use of the Shelters Platform, as well as the respective rights and obligations of the User and Shelters in the context of the Financing Operations.

In particular, the Platform allows the User to:

create a User Account after validation of their identity (KYC);

consult the Financing Operations offered by Shelters;

subscribe to a Bond Agreement under the conditions defined for each project;

receive the Tokens representing the bond claim associated with their Contribution;

access their personal space in order to consult their participations, Tokens, received Financial Flows, and contractual documentation;

receive the Financial Flows related to the Bond Agreement (interest, repayment of capital, distribution following resale, where applicable), in accordance with the terms set out in the said agreement;

transfer their Tokens to a compatible external wallet or assign them to a third party in accordance with the applicable contractual conditions;

benefit from user support.

The Platform constitutes a technical tool for the provision and digital management of Financing Operations. Shelters does not guarantee continuous accessibility of the Site, nor the future performance of the returns associated with the financed projects. The User acknowledges that they use the Services at their sole responsibility.

Shelters may develop, modify, or suspend certain features of the Platform at any time, provided that such changes do not affect the rights acquired under a Bond Agreement already subscribed. Any substantial modification affecting the investment conditions shall be communicated to the User in advance.

Any use of the Services not expressly authorized under these Terms is strictly prohibited.

Access to the Site is free and allows Visitors and Users to consult its editorial content as well as the Projects to be funded. However, access to certain information, features, and specific Services requires registration on the Site, which entails the creation of a User Account in accordance with the terms set out below.

In order to benefit from the Services, the User must have a reliable, high-speed internet connection, which they are responsible for setting up and configuring at their own expense.

The User warrants that they have the infrastructure, equipment, software, and skills necessary to ensure proper access to and effective use of the shelters.finance Platform.

The User also undertakes to be familiar with the characteristics and operation of their own systems and networks, as well as with the functioning of the Internet network.

For any subscription to a Bond Agreement, the Contributor benefits, pursuant to Article L. 341-16 of the French Monetary and Financial Code, from a right of withdrawal of four (4) full calendar days starting from the Subscription Date. This right may be exercised without having to provide any reason and without incurring any penalties.

To exercise this right, the Contributor must notify the Company of their decision before the expiry of the above-mentioned period. Such notification must be made by email to the following address: contact@shelters.finance.

The withdrawal takes effect on the date on which the Platform receives the Contributor’s complete notification, provided that the request is made strictly within the statutory four (4) day period.

The refund shall be made under the best possible conditions and no later than thirty (30) days from the effective receipt by SHELTERS of the withdrawal request. The Company cannot be held liable for any technical delays resulting from banking processing times.

Holding a Token in connection with a Financing Operation grants its holder a claim right as defined in the corresponding Bond Agreement, in particular with respect to repayment of the invested principal and the receipt of contractually agreed interest.

A Token does not constitute a share, equity interest, or any real right in the financed real estate asset. It confers no right of use, decision-making, voting, or any access to ownership structures or enjoyment of the property. Holding a Token does not allow the holder to claim direct ownership of the financed asset.

The Financial Flows associated with a Token may depend on the economic performance of the project, market conditions, operating costs, and any risks or contingencies related to real estate operations.

Amounts received are not guaranteed and may vary over time. Past performance is not indicative of future performance.

The holder acknowledges that:

– Shelters does not guarantee the profitability of any Financing Operation;

– the User may be exposed to a partial or total loss of the invested capital;

– no minimum, maximum, or fixed return is guaranteed;

– the resale or transfer of Tokens may be subject to Article 4.6 and requires a verified User Account in order to receive the associated Financial Flows.

The User remains fully responsible for all tax obligations relating to interest or capital gains generated by the holding or transfer of Tokens.

Shelters does not provide any tax, wealth management, or financial advice and encourages Users to consult a qualified professional prior to making any investment.

Shelters ne fournit aucun conseil fiscal, patrimonial ou financier et invite les Utilisateurs à consulter un professionnel habilité avant tout investissement.

Investments made through the Platform are not guaranteed and involve a risk of partial or total loss of the invested capital.

Payments are made in accordance with the rate provided for in the Bond Agreement.

Any variation or potential suspension may occur only in the cases defined in said agreement.

The User acknowledges that they invest with full awareness of the risks and after carrying out their own personal analysis.

The User acknowledges that the investment is made with a medium- to long-term horizon and that the liquidity of the Tokens may be limited.

Shelters does not provide financial advice.

Any User of the Platform who is dissatisfied with the Services provided by SHELTERS may file a complaint by contacting the Company at the following email address: contact@shelters.finance.

SHELTERS will use its best efforts to review, resolve, and respond to the User’s complaint in good faith within a reasonable period of time. In the event of an exceptional delay, SHELTERS will inform the User by email of the reasons for such delay.

SHELTERS provides hosting for the Platform, either directly or through a service provider:

Amazon Web Services (AWS), whose contact details are available at the following address: https://www.aws.amazon.com/fr/.

The User undertakes to carefully read these conditions, in particular those relating to warranties and liabilities, and to comply with them.

SHELTERS uses its best efforts to ensure the security of the data provided by the User during registration and for the payment of their Contribution, whether directly or through a service provider.

The User is informed of the technical risks inherent in the use of the Internet and communication networks, which may cause access interruptions or slowdowns. In the event of such situations, SHELTERS cannot be held responsible for access failure or reduced performance.

The User specifically acknowledges :

- Data transmissions over telecommunications networks are only partially technically reliable, as they circulate over various networks with varying technical characteristics, sometimes saturated at certain times of the day and/or susceptible to malfunctions.

- SHELTERS cannot be held responsible for the reliability of data transmissions, access times or possible access limitations on specific networks and/or servers connected to the network used by SHELTERS.

- Despite the protective measures put in place by SHELTERS, data circulating on telecommunications networks may be diverted, which means that the communication of data, connection identifiers and more generally any information, is carried out by the User at his/her own risk and peril.

In all circumstances, the User acknowledges and accepts that SHELTERS is not bound by any obligation to monitor the data hosted, the User being solely responsible for the data transmitted.

Similarly, the User acknowledges and accepts that SHELTERS cannot be held responsible for the quality of services provided by third parties, in particular those offered by Payment Service Providers.

In particular, the User assumes sole responsibility in the event of :

- Erroneous entry or transmission of data;

- Alteration or deletion of data due to User errors;

- Granting of access to third parties by the User;

- Non-compliance with SHELTERS' recommendations and, in general, any action resulting in damage over which SHELTERS has no control, such as misuse and/or misappropriation of data and/or access codes, fault or negligence on the part of the User, force majeure, disruption of telecommunications networks, the Internet and any action by third parties;

- Non-compliance by the User with legal or regulatory obligations.

In general, SHELTERS is required to provide its best efforts in accordance with these General Terms and Conditions. In the event of liability being incurred against SHELTERS, it is agreed that only direct damages may be compensated, to the exclusion of any indirect damage such as loss of profits, commercial loss, loss of earnings, commercial disturbance, loss of brand image, loss of data, loss of opportunity, costs associated with obtaining a replacement product, service or technology.

In any event, SHELTERS cannot be held liable for damages resulting from an interruption or failure of service by the telecommunications operator, the electricity supplier, or following a culpable breach by the User of its obligations, and/or by a third party.

In all cases, SHELTERS' liability under these General Terms and Conditions, for whatever reason, is capped in accordance with the legal provisions in force, at a maximum amount corresponding to 100% of the amount paid by the Contributor.

Neither the User nor SHELTERS may be held liable in the event of force majeure.

In the context of the Contract, the term "force majeure" refers to any event unforeseeable at the time of validation of the Contract, irresistible in its occurrence and effects, beyond the control of the Parties, as defined in article 1218 of the French Civil Code. The Parties also consider acts of sabotage, terrorist attacks, Internet, communications or electrical network failures, fires or any other accident beyond the control of the Parties to be cases of force majeure.

In the event of force majeure, the Party affected shall inform the other as soon as possible after becoming aware of the event.

Force majeure results in the suspension of the affected Party's obligations and the correlative obligations of the other Party. This suspension remains in effect for as long as the event persists, with a maximum duration of thirty (30) consecutive calendar days from the date of occurrence. At the end of this period, either Party may notify the other of its decision to terminate the contractual relationship with effect from the date of notification.

SHELTERS owns all intellectual property rights relating to each element of the Platform and its contents provided to the User under these Terms and Conditions.

Under the present provisions, the User acquires no rights other than accessing and using the Platform within the limits defined by these Terms and Conditions. The temporary access to the Platform as defined in the present Terms and Conditions in no way constitutes a transfer of intellectual property rights to the User, within the scope of the French Intellectual Property Code.

Consequently, in accordance with the French Intellectual Property Code, the content of the Platform may not be reproduced or represented, in whole or in part, on any medium whatsoever, without the express prior authorization of SHELTERS.

SHELTERS may be required to process User data as part of the operation of the Platform.

SHELTERS is committed to comply with current regulations on data protection, in particular Law No. 78-17 of January 06, 1978, known as the “Loi Informatique et Libertés”, as well as Regulation (EU) 2016/679 of April 27, 2016 on the protection of personal data and the free movement of such data, also known as the “RGPD”.

For any additional information on the use of personal data by SHELTERS in the context of the use of the Platform, the User is encouraged to consult SHELTERS' Privacy Policy, available at any time on its website at https://www.shelters.finance/fr/privacy-policy/.

The Services available on the shelters.finance Platform may include links to external Internet pages, managed by third parties, for which SHELTERS assumes no responsibility as regards access, content and use.

These General Terms and Conditions may be modified by SHELTERS, resulting in an automatic update which is communicated to the User.

The new version of the General Terms and Conditions comes into force as soon as it is published.

The Parties agree that the General Terms and Conditions applicable are those in force at the time of use of the Services.

These General Terms and Conditions are available to the User on the Website in accordance with Article 1127-1 of the French Civil Code. They may also be sent by email to Users on request, by the User and at the time of Contribution to a financing Project, which signifies acceptance of their terms.

Communications, services rendered, User documents and invoices are archived in a reliable and durable manner in accordance with article 1379 of the French Civil Code.

All these elements have evidential value between the Parties. In general, all SHELTERS computer documents are deemed authentic between the Parties.

These General Terms and Conditions may be translated into English to facilitate Users' understanding. Despite this translation, it is clearly agreed between the Parties that in case of conflict, only the French version of these Terms and Conditions will prevail between the Parties.

Should one or more clauses be deemed invalid or declared contrary to public policy or likely to create a significant imbalance by virtue of a law in force or a final judicial decision, the other clauses shall remain in effect.

In this case, the Parties would have to replace the disputed clause with one reflecting the spirit and purpose of the contract. However, if no agreement is reached on this new clause, this could call into question the terms of the previous paragraph.

The law applying to these General Terms and Conditions is French law.

In the event of a dispute relating to these General Terms and Conditions, the Parties agree to first attempt an amicable resolution before being able to refer the matter to the competent court.

In accordance with Ordinance no. 2015-1033 of August 20, 2015 and implementing decree no. 2015-1382 of October 30, 2015, any consumer dispute, except as otherwise provided in Article L. 612-1 of the French Consumer Code, may be submitted to mediation for an amicable settlement.

The User may also submit any complaints on the online dispute resolution platform set up by the European Commission, accessible at the following address: https://ec.europa.eu/consumers/odr/main/index.cfm?event=main.home2.show&lng=FR