DISCLAIMER AND PREAMBLE
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 the documents to which they refer, constitute a contract (hereinafter the "Contract") between SHELTERS and any natural person, professional or otherwise, user of the Platform and holder of any services issued by the Platform, in particular fractions (hereinafter the "User"). Each party is referred to individually 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/.
Article 1. Definitions
The terms below, used in the singular or plural with a capital letter, and unless otherwise stipulated, have the following meaning:
« Blockchain » : Refers to a technology for storing and transmitting information. This technology offers high standards of transparency and security, as it operates without a central control body. In this case, the blockchain used is called MultiversX.
« Collection » : Refers to the action of raising the funds necessary to finance the Project to be funded.
« Collection of SHELTERS Tokens » : Refers to the unique and non-fungible SHELTERS Tokens issued by the Company in return for each Collection made to finance the Project that is the subject of the Contract signed during each Financing Transaction. Each Collection of SHELTERS Tokens will be identified on the MultiversX Blockchain under an identification number specific to each Financing Transaction [ID].
« Complaint »: Refers to any statement made by a User expressing dissatisfaction with SHELTERS and its Services. A request for information, advice, clarification, service or performance is not a Complaint.
« Contributor » : Refers to the User who wishes to financially support the Project in the form of a contribution in the context of an opportunity offered by the Platform and who has entered into a Future Revenue Sharing Contract
« Contribution » : Refers to any amount in cash or crypto-assets accepted by the Platform paid by a Contributor in order to obtain a Royalty.
« Contribution Phase » : Refers to the period during which Users may participate in the Financing Operation. The period is determined by the Platform in the Future Income Sharing Contract and the Detail Page dedicated to the Project.
« Detail Page » : Refers to the page created on the https://www.shelters.finance website by the Company on the basis of dedicated information and documents for the purpose of presenting a Project during a Contribution Phase.
« Financing Operations » : means the Revenue-based Financing (RBF) transaction for the Project covered by the Future Revenue Sharing Agreement.
« Fraction » : By express agreement between the Parties, this term in this document does not imply any legal qualification.
« Future Revenues » : Refers to revenues generated by the property financed in the form of rents and capital gains net of fees on the Platform in the future. They consist of Royalties and Individual Share.
« Future Revenues Sharing Contract » : Refers to contracts signed between Users and the Platform.
« Holder »: Refers to a Contributor for as long as he/she retains the SHELTERS Tokens subscribed during the Collection or any User, who on his/her own initiative has acquired from an initial Contributor or a subsequent Holder through an over-the-counter transaction (peer-to-peer) one or more Token(s) issued to finance a Project through the Platform and who by doing so has adhered to the corresponding Future Income Sharing Contract and to the "SHELTERS General Terms and Conditions of Use". It is specified that any Holder must first become a User of the Platform under the terms of the "SHELTERS Terms and Conditions of Use" in order to be able to dispose of Tokens issued by SHELTERS.
« Individual Payment » : means the amount paid by the Contributor as part of the Financing Operation, which may only be a multiple of 10 (ten) greater than the Minimum Individual Payment.
« Individual Share » : Claim acquired by the Contributor or the Holder under the terms of each Contract corresponding to its share of the proceeds from the sale of the financed asset net of fees, which will be calculated by the Company per Token by dividing such proceeds net of fees incurred and levied by the Company by the number of Tokens issued in the Collection issued for each Financing Transaction. This amount will be paid to each Holder of Tokens in the Collection on the date of payment based on the number of Tokens in the Collection actually held by the Holder.
« KYC Procedure »: Refers to all User identification measures implemented by SHELTERS and its service provider Veriff, for which the User agrees to provide any proof required to verify his declarations at the first request. Veriff, whose registered office is at 39 Tatari St., 10134 Tallinn, is a regulated European company which has been entrusted with full responsibility for overseeing the Company's anti-money laundering (AML) program. Veriff is fully compliant with CCPA/CPRA, GDPR, SOC2 type II, ISO 27001, and WCAG Accessibility Guidelines.
« Maximum Individual Contribution » : means the maximum amount that may be accepted as a Contribution by the Platform from the Contributor under a Future Revenue Sharing Contract entered between the Parties. The maximum amount of Funding is set at €10,000 (ten thousand euros).
« Minimum Individual Payment » : means the minimum amount that may be accepted, as a Contribution, by the Platform from the Contributor under a Future Revenue Sharing Contract entered between the Parties. The amount of the Minimum Funding is set at €10 (ten euros).
« Payment Service Provider » : refers to the specifically approved service provider(s) used by the Platform to manage payments on the Site. These service providers are respectively Stripe Technology Europe, whose registered office is located at Grand Canal Street Lower null - DUBLIN, IRELAND and xMoney, whose registered office is located at Tornimäe tn 3/5, Kesklinna linnaosa, Tallinn, Harju maakond, 10145.
« Periodicity » : Refers to the rate of declaration and payment of instalments during the term of the Contract. This frequency is fixed for each Contract.
« Project » : Refers to any project for the acquisition or refinancing of a property for rental use carried by the Platform and published on the https://www.shelters.finance website.
« Royalties »: Refers to the regular payment made by the Platform in respect of the Project for the Holders of Fractions from the Collection at each Periodicity. It will be calculated by the Company per Token by dividing the amount of the Period Rent collected by the Company excluding charges net of fees by the number of Tokens issued in the Collection issued for each Financing Transaction. This amount will be paid to each Holder of Tokens in the Collection on the date of payment according to the number of Tokens in the Collection actually held by the Holder.
« Royalty Rights »: Refers to the total debt rights net of fees acquired by all Contributors to the Collection of each Project financed on the SHELTERS platform, which is expressed in the form of a number of "Fractions" represented on the Blockchain in the form of Tokens. This Collection of Tokens, the number of units of which is equal to the amount of the Contribution paid divided by 10 (Unit: 1 Fraction = 10 euros), are grouped together and referenced on the MiltiversX Blockchain in a single Collection dedicated to each Financing Operation issued and managed by SHELTERS. It is specified that these "Fractions" are not considered as property within the meaning of the French Civil Code, but constitute solely a designation of the Royalty Rights acquired by Contributors.
« Services » : Refers to the services described in these General Terms and Conditions available to all Users on the https://www.shelters.finance website and provided by SHELTERS VENTURE..
« Success Threshold » : Refers to the minimum amount of all Contributions received from Contributors in the context of the Financing Operation envisaged by the Platform and which determines the final completion of the Financing Operation. This amount is equal to the sum required to complete the Project to be financed, as indicated on the Platform's Project Detail Page. This amount varies according to the Financing Operation.
« Site », « Platform » : Refers to the Website through which SHELTERS makes its Services available to any User.
« SHELTERS Tokens » or « Non Fungible Tokens » (or NFTs): A collection of NFTs created by SHELTERS VENTURE for each Project enables the financed Real Estate to be associated with a unique series (Collection) of non-fungible digital tokens. Holding the corresponding tokens means holding a financial right to the real estate asset financed by the initial Contribution, the authenticity of which is guaranteed by the MultiversX Blockchain. Blockchain is a technology that enables information to be secured and verified in a transparent and unforgeable way. Thanks to the Blockchain, the history of information can be preserved without anyone being able to alter it, and without intermediaries. A "Token SHELTERS" thus refers to the digital representation of a Fraction of this Future Income Sharing Contract on the Blockchain. It is materialized by the collection of NFTs issued on the occasion of the Project Financing Transaction referenced on the MultiversX blockchain by SHELTERS. Also referred to as Fraction in this document. Possession of one or more SHELTERS Tokens on the Blockchain implies adherence to the SHELTERS GCU and the Future Income Sharing Contract associated with each Transaction.
« User » : Refers to any user of the Services offered by SHELTERS on the Site, in compliance with the stipulations of these General Terms and Conditions, who is of legal age and capacity and who is subject to the valid KYC Procedure.
« User's Personal Account » or « User Account »: Refers to a User's personal space on the Site. This space can only be accessed by entering login details, and enables access to the Services provided by the Company. It also enables the User to consult and modify his/her own personal data.
« Visitor » : Refers to any individual or legal entity accessing or consulting the Site but not registering as a User.
Article 2. Purpose
By these General Terms and Conditions, the Platform commits to making available to any User all or part of the Services offered on the Site, including the following Services, under the conditions defined below:
An application on the Platform enabling the User to access the following elements:
- Conclusion of a Future Revenue Sharing Contract between the User and SHELTERS;
- Determination of the Royalty periodically due to the Contributor under the conditions contractually defined between the Contributor and SHELTERS;
- Provision to the User of the breakdown of the amount paid by SHELTERS to the User between the amount corresponding to the reimbursement of the User's Individual Payment and the amount corresponding to the amounts paid back in addition to the User's Individual Payment. The Holder's financial situation will be accessible at any time from the User's Personal Account opened on the Platform.
- Support service for the User to monitor his or her situation
The Services may, at any time, be subject to adjustments, changes and/or updates made by SHELTERS, which the User accepts in advance. Such adjustments may be made without prior notice, consent or notification to the User, so long as they do not significantly alter the Service concerned and guarantee the User an equivalent or superior level of service.
In the event of substantial modifications affecting essential functionalities, SHELTERS undertakes to inform the User in advance.
However, SHELTERS reserves the right to make any urgent changes required for reasons of security, proper operation or confidentiality.
It is the User's responsibility to determine his or her own needs and to assess whether the Services offered and their scope are appropriate, taking into account his or her objectives and the infrastructure he or she uses.
The conditions of access and use are clearly defined on the Site and/or in these General Terms and Conditions. Any use of the Services not expressly authorized by these General Terms and Conditions is strictly forbidden. Consequently, the User may not under any circumstances allow a third party to access the shelters.finance Platform, and firmly agrees to use it only in accordance with the foregoing terms and conditions, in particular refraining from any adaptation, modification, translation, arrangement, distribution, etc. of the shelters.finance Platform.
SHELTERS makes no guarantees as to the accessibility, functionality or performance of the Platform that are not expressly specified in these Terms and Conditions.
Article 3. Access and conditions of use of the Services
Access to the Site is free and allows Visitors and Users to consult its editorial content as well as the Projects to be financed. However, to access certain information, functionalities and specific Services, registration on the Site is required, involving the creation of a User Account in accordance with the terms and conditions set out below.
To benefit from the Services, the User must have a reliable broadband Internet connection, which he/she is responsible for setting up and configuring at his/her own expense.
The User guarantees that he/she has the necessary infrastructure, equipment, software and skills to ensure effective access to and use of the shelters.finance Platform.
He also undertakes to be familiar with the characteristics and operation of his own installations and networks, as well as with the operation of the Internet network.
3.1 Conditions of access
Users access the Services by creating and using their own login and password.
Any person wishing to register must be of legal age and have the legal capacity to enter into a contract.
Each User Account is personal, and only one account may be created for each User. The User agrees to create or use only one User Account, whether under his or her own name or that of a third party. Any breach of this rule may result in immediate suspension of the User Account(s) concerned and access to the associated Services.
The opening of a User Account is subject to the User's eligibility in accordance with the Site's General Terms of Use.
The User strictly guarantees SHELTERS, in the case of use for non-professional purposes :
- he/she is a person of full age, capable and in possession of a valid identity document (national identity card, passport or driving license),
- he/she is domiciled in a member state of the European Union (EU) or a member state of the European Economic Area (EEA),
- he/she holds a bank account with a credit institution located in the EU or EEA, and, if applicable, a 3D Secure payment card linked to his/her bank account,
- the identification details provided to SHELTERS are accurate and complete
SHELTERS collects via the Site or its Service Providers:
- a copy of a valid official identity document bearing the photograph of the individual User
- a copy of an additional document confirming the identity of the individual User
- the details of the bank account opened with a credit institution located in the EU or EEA, the Paypal details, the public address of the MultiversX Blockchain or the details of any Service Provider used by the Platform to transfer funds to carry out the operations provided for in the Services.
The User agrees to provide at any time all the supporting documents required to verify his declarations at the first request of SHELTERS and/or its service provider Veriff.
Throughout the term of the Contract, the User must spontaneously inform SHELTERS of any change in his/her situation that may affect the Services.
The User accepts that SHELTERS may, via the Site, request additional identification information at any time in order to comply with the regulations in force, in particular with regard to the fight against money laundering and the financing of terrorism.
SHELTERS reserves the right to refuse registration to any person who does not meet the conditions of morality required or who contravenes the values and ethics that the Site seeks to promote, without having to justify such refusal.
SHELTERS has the sole discretionary power to decide which registrations it accepts, without possibility of recourse or right to compensation.
The User guarantees that the data he/she provides for the creation of his/her User Account is true and accurate.
The User acknowledges and accepts that he/she is entirely responsible for maintaining the confidentiality and security of his/her login and password. Consequently, he/she is solely responsible for any use of his/her login and password, as well as for any consequences arising from unauthorized access to his/her User Account by a third party, in particular the loss or alteration of data, as well as any action taken from his/her User Account.
Should the User become aware of any unauthorized use of his/her login details or User Account, he/she must immediately inform SHELTERS by e-mail to contact@shelters.finance.
The User will have access to the shelters.finance Platform at all times, except during periods when it is unavailable for maintenance. Suspension of access to the shelters.finance Platform may occur as a result of maintenance operations necessary to guarantee its proper functioning.
SHELTERS cannot be held responsible for the possible consequences of these interruptions on the User's activity.
3.2 Terms of use
The User agrees to use the shelters.finance Platform appropriately and in accordance with its purpose, and to comply with all legal and regulatory rules and with these General Terms and Conditions.
The User is entirely responsible for the quality and authenticity of the data communicated to the Platform and for the consequences associated therewith.
The User undertakes to refrain from any action likely to harm the Services in any way whatsoever.
The User also guarantees and agrees to:
- Have all necessary authorizations for the use, storage and distribution of data;
- To respect all rights, in particular intellectual property rights, pertaining to the shelters.finance Platform and its contents;
- Not to use the Platform for any purpose other than that for which it was intended, or in a manner that does not comply with its intended purpose;
- To post, generate, indicate or disseminate, in any form or manner whatsoever, only information or content that is true, does not infringe the rights of third parties, and complies with current regulations;
- Expressly refrain from using programs or devices likely to disrupt the smooth running of the Platform, and from taking any action likely to impose a disproportionate burden on the hosting infrastructures;
- Not to reproduce the Platform permanently or temporarily, in whole or in part, by any means and in any form;
- To use the Platform only for lawful purposes within the conditions and limits of these General Terms and Conditions;
- Not to adapt, modify, translate, transcribe, arrange, compile, decompile, assemble, disassemble, transcode or reverse engineer all or part of the Platform and/or its content;
- Not to export the Platform, or merge all or part of it with other programs;
- Not to extract or reuse, including for private purposes, any part of the Platform content without prior authorization;
- Not set up any system likely to pirate or conflict with the Platform and/or its components, in violation of these Terms and Conditions.
Failure to comply with the above conditions may result in suspension of the Services and/or termination of all access and use of the Services for the User.
Failure to comply with the obligations defined in the present article constitutes a serious breach.
The User guarantees SHELTERS against any legal action brought by a third party claiming to hold a right, in particular an intellectual property right, in relation to the data supplied by the User or generated by him/her within the framework of the Services. It is the User's responsibility to resolve the claims of such third parties to protect SHELTERS from any legal action and to allow, where applicable, the use of the data or elements in accordance with the present General Terms and Conditions.
In all cases, the User shall be obliged to reimburse SHELTERS for any damages and defence costs incurred in this context.
SHELTERS is committed to making every effort to keep the Platform accessible as often as possible, under conditions that allow reasonable traffic.
However, the User declares that he/she is aware of the possible technical problems associated with the use of the Internet and communication networks, which may lead to access interruptions or slowdowns. In this context, the User acknowledges that SHELTERS cannot be held responsible for any access disruptions or drop in performance.
The User is advised that access to the Platform is not guaranteed to be uninterrupted, secure, error-free or free from malware or other harmful elements.
3.3. Suspension and deletion of the User's Account
SHELTERS reserves the right to suspend access to the Services or delete the User's Personal Account in the following situations:
- The User has failed to comply with any of its contractual obligations, by failing to provide the required information or by failing to transmit the documents necessary for the KYC Procedure and its renewal.
- SHELTERS suspects that the User is using the Services improperly or fraudulently.
- The User obstructs SHELTERS in the performance of its obligations under these Terms and Conditions.
- The User uses more than one User Account.
SHELTERS will inform the User of its decision to suspend and/or remove access by e-mail to the valid address declared by the User, its scope and, in the event of suspension, its duration.
The User may request the deletion of his/her User Account at any time by sending an e-mail to the following address: contact@shelters.finance.
3.4. Consequences of deleting the User's Personal Account
Deletion of the User's Account, whether initiated by the User or by SHELTERS, results in the deletion of the data stored on the Platform and access to the services provided by the various service providers.
Deletion of the User Account will be effective :
- Within a maximum of fifteen (15) days from notification of deletion by SHELTERS.
- Upon confirmation of deletion by SHELTERS.
If the User has Fractions in his digital wallet at the time of deletion of the User Account, he will no longer be eligible for his Royalties.
In the event the User holds Fractions on the Platform, in addition to losing eligibility for his or her Royalties, the Company reserves the right to recover the User's Fractions by compensating the User for the value in euros of his or her Fractions, less acquisition costs, or to transfer the User's Fractions to his or her MultiversX digital wallet.
To carry out these procedures, the User must provide a MultiversX address, or a valid means of payment proposed by the Company in order to enable compensation.
Article 4. Services
4.1. Contribution
The User, a non-professional but active investor, seeks a predictable revenue from the rental property market while sharing the interests of the Platform. However, the User has no capital ties or rights of governance with the Platform or its associates. After analyzing the available data on rental income prospects, he or she chooses to participate in a Financing Operation on the Platform on his or her own initiative. In order to participate in the financing of SHELTERS' projects, the User undertakes to pay the Contribution to which he/she committed at the time of the corresponding Collection, giving him/her the right to receive a share of the rents received net of charges on the property financed. He certifies that he has the necessary financial resources to do so, and that he has fully understood the characteristics and risks associated with his participation in the Financing Operation.
The Financing Operation begins with the opening of a Contribution Phase, during which the User may participate in the Operation. The duration of this Contribution Phase is clearly specified on the Operation Details Page.
The User is free to choose the amount of his Individual Contribution at the time of his Contribution, as long as it is always greater than or equal to the Minimum Individual Contribution and less than or equal to the Maximum Individual Contribution and corresponds to a multiple of 10 € euros. All the necessary information concerning these amounts is available on the Detail Page.
By contributing, the User accepts all the terms and conditions of the Financing Operation, which are detailed in the Project to be financed as well as in the Future Revenue Sharing Contract associated with the Operation.
The Contribution will be finalized when the User explicitly accepts the conditions, in accordance with article 1127-2 of the French Civil Code. At this stage, he/she will be able to check the details of his/her order and its total price and rectify any errors before definitively confirming his/her acceptance.
4.2 Terms of payment
Payment of the Contribution shall be made using the system of a Payment Service Provider chosen by the Platform: Stripe or xMoney, whose general terms and conditions of use are respectively accessible on their websites (https://www.stripe.com/ and https://www.xmoney.com/) and whose terms and conditions are incorporated into these General Terms and Conditions. Therefore, acceptance of these General Terms and Conditions implies acceptance of the Payment Service Providers' general terms and conditions of use.
If, at the end of the Contribution Phase, the Success Threshold has not been reached, the Contribution will be reimbursed in full, at least in euros, to the User who made the Contribution, less any charges applied by the Payment Service Providers. In the event of delays or for any queries regarding the refund process, Users are invited to contact the following e-mail address: contact@shelters.finance.
At the end of the Contribution Phase, if the Success Threshold is reached, all Contributions will be transferred to the bank account of the notary or owner of the property concerned to proceed with the acquisition of the property, in accordance with the terms and conditions set out below.
4.3. Payment security - Fraud
To guarantee the security of transactions, SHELTERS uses the secure payment service offered by Payment Service Providers. Sensitive information is encrypted using the SSL security standard, which prevents it from circulating unencrypted on the Internet.
4.4. Cancellation of a Financing Operation
In the event of cancellation of the Projects during the Contribution Phase, the Financing Operation will then have to be stopped and the related Contributions will be refunded to the Contributors concerned as indicated in article 4.2 Terms of payment.
4.5. Royalty rights
In particular, it is reminded that the right to the real estate financed - in the form of a number of "Fractions" - does not guarantee the Contributor or Fraction Holder the perception of income or make the Contributor an unconditional partner or creditor of the SHELTERS VENTURE company and that the corresponding investment does not fall within the scope of Regulation (EU) 2020/1503 of the European Parliament and of the Council of the European Union of 7 October 2020 on European providers of participatory financing services. Consequently, the Contributor or the Fraction Holder acknowledges that only the mandatory provisions of the French Civil Code and, to the extent that he/she is a consumer, those of the French Consumer Code, govern the Future Revenue Sharing Contract that he/she will sign.
On successful completion of the Financing Operation, the Contributor will have acquired a claim on the property. Part of the income generated by the property will then be paid in the form of a Royalty to the Contributors under the conditions specified in the Future Revenue Sharing Contract concluded with the Contributors.
This Royalty is paid directly to the Holders using the payment services offered on the Platform, such as PayPal, bank transfer or the User's digital wallet, depending on his/her preferences.
4.6. Residual
When a Royalty is divided between the Holders, if, as a result of the division of the Royalty between the Holders, a balance of Royalty remains and cannot be divided equitably between the Holders due to its small amount, this balance will be definitively acquired by the Platform.
4.7. Transfer of Fractions by assignment of the Future Revenue Sharing Contract
The transfer by a Contributor of its contract with the Company may be made at any time in accordance with the conditions stipulated in the Future Revenue Sharing Contract associated with the Financing Operation.
The Company has no mandate to seek a purchaser for the Contract or the Royalty Rights on behalf of the Contributor. It is important that Contributors are aware of the risk of limited liquidity of their investment.
4.8. Tax obligations
Each Contributor or Holder is responsible for paying the duties and taxes due on the Royalties received. The Platform may not under any circumstances act as a substitute for Contributors or Holders, nor advise them on the nature and details of their tax obligations.
Each Contributor or Holder is responsible for verifying the amount of his or her taxable income and whether he or she is eligible for any tax deduction or reduction on all or part of the Contributions paid in connection with a Project.
Article 5. Special conditions applicable
5.1. Financing against Royalty on Project revenues
The acquisitions of rental properties planned by SHELTERS are wholly or partly financed by the Contributors via a Contract for the Sharing of Future Revenues from the Project, calculated on the basis of an agreed benchmark, as the case may be.
SHELTERS commits to pay the Holders a portion of this income based on the income net of fees generated by the corresponding property, calculated in proportion to the Fractions held and defined by SHELTERS at the time of issue of the SHELTERS Token Collection on the occasion of each Financing Transaction and under the conditions defined in each Future Income Sharing Agreement used in the Financing Transaction. The Fractions held by the Holder entitle the Holder to receive, subject to sufficient cash flow, a Royalty derived from the income net of the costs incurred and deducted by the Company generated by the rental management of the property forming the subject of the Financing Transaction, the amount of which is determined at SHELTERS' discretion according to the Project to be financed, and an Individual Share based on the proceeds of sale of the said property net of the costs incurred and deducted by the Company.
5.2. Remuneration of the Platform
In return for its Services, the Platform will receive remuneration calculated as follows:
- At the time of payment of the funds collected from Contributors: SHELTERS will deduct a commission equal to 10% (excluding tax) of the total amount of the Collection;
- On the rents collected from the property managed following the Financing Operation : SHELTERS will deduct a commission equal to 10 % excluding tax of the rent collected.
- On resale of the property acquired as a result of the Financing Operation : Payment of a commission equal to 3% excluding tax of the "net seller" sales price, i.e. the sale price of the property after payment of agency fees.
- Royalties of 1% on peer-to-peer exchanges of Fractions via the MultiversX blockchain.
5.3. SHELTERS VENTURE's commitment in the event of a successful Financing Operation
SHELTERS guarantees the performance of all its obligations to Contributors or Holders, including the provision of clear, truthful, objective and accurate information concerning the Project, as well as the completion of the Project as defined in the Project to be financed. In addition, SHELTERS commits to pay to the Holders the Royalties described in the Project to be Financed and the Future Revenue Sharing Contract.
SHELTERS commits not to propose or provide any illicit content, in particular content that is racist, discriminatory, defamatory, abusive, xenophobic, inciting to violence, prejudicial to public order, or contrary to the law. The Company also agrees to respect the rights of third parties, including intellectual property rights, and to conduct its activities and Financing Operations reasonably and in accordance with the information provided on the Platform.
In carrying out its activities and services, SHELTERS is committed to acting with the utmost care and in accordance with best practices.
SHELTERS is committed to manage, or if necessary to have managed by a third party, the real estate financed in a reasonable and professional manner.
Article 6. Right of withdrawal and refund
In application of article L.221-18 of the French Consumer Code, the Contributor has a period of fourteen (14) calendar days to exercise his or her right of retraction, without having to give any reason or incur any penalties.
The period during which the right of withdrawal may be exercised runs from the day on which the User has made his/her payment to participate in the Financing Operation.
To exercise this right of withdrawal, the Contributor must complete, date and sign the single withdrawal form attached to the Contract with the SHELTERS and return it by e-mail to contact@shelters.finance, or reproduce the contents of the form identically in the body of the e-mail.
The withdrawal takes effect on the day of receipt by the Platform of the retraction form duly completed by the Contributor if this request is made within the 14-day period.
The Contributor will then be reimbursed at least in euros for the amount paid at the time of the Contribution, less any Payment Service Provider fees. This operation will be carried out under the best possible conditions and at the latest within thirty (30) days from the day on which the Contributor informs SHELTERS of his/her wish to retract, i.e. from the effective receipt by SHELTERS of the withdrawal form duly completed by the Contributor. The Company may not be held liable for any delay in the payment of the said credit.
Article 7. Absence of legal guarantees
SHELTERS is not a seller of real estate and merely provides the Contributor with access to a right to share in the sales generated by the temporary management of the financed real estate, less certain expenses, generated by SHELTERS through a Royalty. The Contributor therefore acknowledges the inapplicability of the legal regime of sales law and the related provisions of the French Consumer Code, as well as the absence of application of the regime of intermediation in various goods referred to in article L.551-1 of the French Monetary and Financial Code.
In particular, the Contributor or Fraction Holder is reminded that the right to the real estate does not guarantee the Contributor or Fraction Holder the receipt of income or make the latter a partner or unconditional creditor of SHELTERS and that the corresponding investment does not fall within the scope of Regulation (EU) 2020/1503 of the European Parliament and of the Council of 7 October 2020 on European providers of participatory financing services for entrepreneurs. Consequently, the Contributor or the Holder of Fractions acknowledges that only the mandatory provisions of the French Civil Code and, insofar as he/she is a consumer, those of the French Consumer Code, govern the Future Income Sharing Contract that he/she will sign.
Article 10. Liability
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.
Article 11. Force majeure
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.
Article 12. Intellectual property rights
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.
Article 13. Personal data management policy
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/.
Article 14. External links
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.
Article 15. Changes
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.
Article 16. Application of the General Terms and Conditions - Opposability and Proof
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.
Article 17. Language of the General Terms and Conditions
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.
Article 18. Entirety
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.
Article 19. Applicable law - Dispute resolution
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