PlatformTerms and Conditions

Terms and Conditions

Terms of service of the Internet platform revofund.com

§ 1. General

These terms of service stipulate:
1. the terms and conditions of using the internet platform www.revofund.com,
2. the rules of concluding Transactions via the Internet platform revofund.com,
3. the terms and conditions of the provision of services by Revofund to Users and Registered Users,
4. the primary conditions of entering into and terminating agreements with Registered Users,
5. the complaints procedure,
6. the principal rules of processing personal data,
7. the rights and duties of Revofund and Users and Registered Users, as well as the scope of their liability.
The owner and administrator of the internet platform www.revofund.com is the company under the name Revofund spółka z ograniczoną odpowiedzialnością (limited liability company) headquartered in Poznań at ulica Wojskowa 4 (60-792 Poznań), registered in the register of companies of the National Court Registry maintained by the Sąd Rejonowy Poznań Nowe Miasto i Wilda w Poznaniu, VIII Wydział Gospodarczy Krajowego Rejestru Sądowego (District Court for Nowe Miasto and Wilda, No. 8 Commerce Division, National Court Registry) under the KRS entry number 0000734857, VRN (NIP) number 7792491393 and UTR (REGON) number 380456257 share capital of PLN 10,000.
Revofund.com is a crowdfunding platform (social funding platform), or an IT tool via which Project Initiators may present their prospective business ventures in order to obtain monies by a) selling to interested investors equity in the share capital of limited liability companies in return for cash contributions, or b) receiving from interested investors a dedicated loan to facilitate the planned business ventures, where potential investors may receive information about project initiators and their business in order to make an informed investment decision that will enable them to earn profits from such equity purchased in a limited liability company or the interest on the debt, depending on the type of investment.
Excluding the cases explicitly indicated in these Terms of Service, Revofund and Users and Registered Users shall communicate via email. Revofund hereby provides its email address for contact in matters of the Platform’s operation: office@revofund.com The email address of Registered User shall be provided on registration on the Internet platform revofund.com.
To register on the internet platform revofund.com it is required to read and accept these Terms of Service, as well as our Privacy Policy. Each User registering on the Platform stands committed to abide by these Terms of Service.
The Terms of Service do not provide the grounds for establishing any legal relationship whatsoever between Revofund and Registered User or Project Initiator. Any and all obligations of Project Initiators to Revofund or of Revofund to Project Initiators may only arise out of the agreement to be concluded between them. The published price list for the services provided by Revofund to Project Initiators is Revofund’s trade information only and is not an offer in the meaning of the Civil Code.

§ 2. Definitions

The capitalised words and phrases within these Terms of Service shall have the following meanings:

Revofund – the company under the name Revofund spółka z ograniczoną odpowiedzialnością (limited liability company) headquartered in Poznań at ulica Wojskowa 4 (60-792 Poznań), registered in the register of companies of the National Court Registry maintained by the Sąd Rejonowy Poznań Nowe Miasto i Wilda w Poznaniu, VIII Wydział Gospodarczy Krajowego Rejestru Sądowego (District Court for Nowe Miasto and Wilda, No. 8 Commerce Division, National Court Registry) under the KRS entry number 0000734857 VRN (NIP) number 7792491393 and UTR (REGON) number 380456257, share capital of PLN 10,000.
Price List – a list of fees for the services provided to Project Initiators by Revofund;
Profile Data – any and all information, including Personal Data, posted by Registered Users on their Accounts;
Personal Data – any and all information about an identified or identifiable natural person (“person to whom they apply”); an identifiable natural person is a person who may be identified directly or indirectly, in particular by means of an identifier, e.g. first and last name, identity number, location details, Internet identifier, or one or more special factors defining the physical, physiological, genetic, mental, economic, cultural or social identity of a natural person;
Expert – a natural person with expertise in a given field (e.g. finance, law, financial statement audit, appraisal, marketing, or any other field) whose qualifications have been accepted and confirmed by Project Initiator and who uses the Platform, or a legal person or an organisation unit without legal personality, but with legal capacity, which for their business purposes employ such natural persons, who provides to Project Initiator or Registered Users, on foot of the relevant Agreement between them, paid services to prepare Project Initiator, his/her Project, or to run a Campaign, or to explain to Registered Users, with the consent of Project Initiator, any issues related to Project Initiator, Project, or Campaign.
Investor – a Registered User who has provided monies for Project by concluding Transaction with Project Initiator using the functionalities of the Platform.
Campaign – any and all measures taken by Project Initiator via the Platform that are conducive to crowdfunding Project with monies received by Registered Users and continued from the moment when Project is available on Campaign Subpage until the End of Campaign.
Civil Code – the act of 23 April, 1964 – Civil Code (i.e. the text of 9 February, 2017, OJ of 2017, item 459, as amended);
Account – a password-protected Internet account opened on the Platform by User under a unique login (nick), following the registration procedure set forth in these Terms of Service, which contains Profile Data of Registered User and details of Registered User’s activity on the Platform and enables Registered User to use the Services provided by Revofund via the Platform;
Platform – a crowdfunding Internet platform maintained in the domain revofund.com;
Privacy Shield – The EU-US Privacy Shield decision was adopted on 12 July 2016 and the Privacy Shield framework became operational on 1 August 2016. This framework protects the fundamental rights of anyone in the EU whose personal data is transferred to the United States for commercial purposes. The framework also brings legal clarity for businesses relying on transatlantic data transfers.
Campaign subpage – an Internet page in the domain www.revofund.com, on which Project Initiator makes available to Registered Users: information about his/her Project, business, and Campaign status (including value of the monies declared or already paid);
Privacy Policy – a separate document specifically regulating the protection of Registered Users’ and users’ privacy, in place on the Platform, available at www.revofund.com/politykaprywatnosci
Project – a business venture not related to the investment business managed by alternative investment companies in the meaning of the Act of 27 May, 2004 on investment funds and management of alternative investment funds (i.e. the text of 8 December, 2017, OJ of 2018, item 56), as described by Project Initiator, which the latter intends to implement with the use of the monies received from Registered Users;
Special project – a Project for which Project Initiator seeks funds from a selected group of Registered Users who have expressed interest in participating in a given Special Project;
Project Initiator – a Registered User doing business as a commercial law company or a partnership or a registered self-employed who, under the relevant agreement concluded with Revofund, runs a Campaign;
Escrow Account – a payment account maintained by a payment institution, in keeping with the Payment Services Act, in which funds are placed by Registered Users until the End of Campaign.
Payment Account – a payment account in the meaning of Art. 2 p. 25 of the Payment Services Act.
Terms of Service – these Terms of Service of the Internet platform Revofund.com which, in the meaning of Art. 8 of the Act on providing services by electronic means, is available at www.revofund.com/
Regulation (GDPR) – Regulation (EU) 2016/679 of the European Parliament and of the Council of 27 April 2016 on the protection of natural persons with regard to the processing of personal data and on the free movement of such data, and repealing Directive 95/46/EC (General Data Protection Regulation) (OJ EU L 119/1)
Payment service – means a payment institution servicing the payments made via the Platform and managing such payments;
Parties – Registered User and Revofund.
Transaction – a legal contract concluded by Registered User with Project Initiator, following which Registered User, in return for providing Project Initiator with the agreed funds for the facilitation of Project, acquires – depending on the fundraising method chosen by Project Initiator to facilitate Project – equity in the share capital of Project Initiator, or compensation in the form of interest. The detailed terms and conditions of concluding Transactions are described in the Appendices no. 1 – 3 to these Terms of Service and represent an integral part hereof.
Agreement for the Provision of Services – an agreement concluded by and between Revofund and User through registration on the Platform and acceptance of and commitment to abide by these Terms of Service, in keeping with the procedure set forth in Section 4 of these Terms of Service, under which User gains the status of Registered User and access to the services provided by Revofund exclusively to Registered Users;
Services – the services described in the Act on providing services by electronic means and in these Terms of Service, provided by Revofund via the Platform to Users and Registered Users, exclusive of the services provided to Project Initiators and Experts and regulated by separate agreements;
Personal Data Protection Act – the Act of 10 May, 2018 (OJ of 2018, item 1000);
Consumer Rights Act – the Act of 30 May, 2014 on consumer rights (i.e. the text of 9 March, 2017, OJ of 2017, item 683, as amended);
Act on Providing Services by Electronic Means – the Act of 18 July, 2002 on providing services by electronic means (i.e. the text of 9 June, 2017 , OJ of 2017, item. 1219);
Payment Services Act – the Act of 19 August, 2011 on payment services (i.e. the text of 28 September, 2017, OJ of 2017, item 2003, as amended);
User – any natural person, legal person or organisation unit without legal personality but with legal capacity that uses the Platform;
End of Campaign – conclusion of the Transactions, following which the funds for the facilitation of Project, as set forth in the Campaign, have been successfully raised, or an end of Campaign due to a fundraising failure.
Registered User (Service Buyer) – a natural person of legal age who has full legal capacity, a legal person or organisation unit without legal personality, but registered in the National Court Register and having legal capacity, or a partnership that has entered into Agreement for the Provision of Services.

§ 3. Technical conditions of using the Platform

Do prawidłowego korzystania z Platformy www.revofund.com niezbędne jest:
1. to have an electronic device with access to the Internet web,
2. to have an Internet browser Mozilla FireFox 30.x or its later version, Google Chrome 35.x or its later version, Microsoft Internet Explorer 10.0 or its later version, Apple Safari 5.x its later version, which uses cookies technology;
In order to use all the options and functionalities of the Platform it may be required:
1. to have an active electronic mail account (e-mail),
2. to install “Java” or “Java Script” software and accept “cookies” files.

§ 4. Terms and conditions of using the Platform by Users

All Users may use the following Platform Services a) open the Platform in a web browser and b) browse the Platform and its content, for which purpose, in accordance with the Terms of Service, they are not required to have an Account.
User may browse the content on the Platform and Campaign Subpage dedicated to each Project Initiator which contains publicly available information about a given Project and Project Initiator, such as the purpose of the Project or the details of Project Initiator provided thereby in order to obtain funding for the purpose of the current Campaign.
The services provided by Revofund to Users are free.
Users who wish to use other Services available on the Platform and described in Section 5 of the Terms of Service are required to register on the Platform and have an Account.
In order to register on the Platform, User is required:
1. to complete the registration form available on the Platform by providing his/her login (nickname), e-mail address, telephone number and password;
2. read these Terms of Service and the Privacy Policy,
3. submit a statement that he/she meets the conditions set forth in the Terms of Service, in particular that he/she is of legal age and has full legal capacity,
4. accept the Terms of Service,
5. confirm that he/she is aware of the duty to provide information, as communicated to User upon his/her registration on the Platform,
6. activate the Account by clicking on the link sent to User’s e-mail address.
Registering on the Platform is tantamount to concluding the Agreement for the Provision of Services by electronic means, referred to in Section 5 para. 1 of the Terms of Service.
Having registered on the Platform, Registered User logs in to his/her Account by entering the data provided in the registration form, i.e. his/her login (nickname) and password. Registered User has no option of changing the login adopted during the registration.
Users of the Platform may use any logins, except that such logins may not be worded so that they may be perceived as offensive, propagating racial or religious hatred or any form of discrimination, or otherwise violate the rights of third parties.
Each User may register on the Platform in his/her own name, as a public body or person authorised to represent an entity, or on foot of an authorisation from the entity he/she represents. For the purpose of registration on the Platform it is assumed that the person registering on behalf of a legal person or an organisation unit, which is legally capable under the Act, is entitled to represent that entity. The said authorisation may be verified by Project Initiator or by Revofund in connection with the declaration of entering into Transaction via the Platform.
Each User may have only one Account on the Platform.

§ 5. Terms and conditions of using the Platformy by Registered Users

Account activation entails concluding Agreement for the Provision of Services between Revofund and User by electronic means, in accordance with the rules set out in Section 5 – Section 13 of these Terms of Service, and User obtaining the status of Registered User.
The Agreement for the Provision of Services is concluded for an indefinite period of time and is performed by Revofund immediately after its conclusion.
All Services provided by Revofund to Registered Users of the Platform are free of charge. Services provided by Experts via the Platform are paid and the terms and conditions of their provision are set out in separate agreements.
On the basis of the Agreement for the Provision of Services, Registered User obtains access to the following Services, as part of the existing functionalities of the Platform:
1. upload of Profile Data on the Account, including an image of Registered User;
2. access to the summary of Registered User’s activity on the Platform (monitored, favourite, and supported Campaigns, Transaction status, Project Initiators’ Benefits);
3. access to Campaign Subpage to learn about the Project;
4. access to Campaign Subpage to learn about Special Project available to Registered Users who have communicated their intent to participate in it directly to Project Initiator and have been invited by him/her to participate in such Special Project;
5. access to the templates of documents necessary to conclude a Transaction;
6. direct communication with Project Initiator, including Q&A sessions to receive further information about the Project,
7. option to comment on Project or Campaign,
8. direct communication with other Registered Users,
9. use of paid services provided by Experts via the Platform,
10. access to the information and educational materials available on the Platform,
11. ability to conclude Transaction directly with Project Initiator via the transactional service available on Campaign Subpage, after positive authorization of Revofund’s Transaction Declaration
12. receiving notifications about the functioning of the Platform, including information of new Services available,
13. receiving marketing notifications, including newsletters.
The Profile Data gathered by Revofund on the Platform is confidential, with the exception of Registered User’s login (nickname). Registered User may expressly agree to his/her personal data stored on his/her Account (i.e. name, image, Transactions, etc.) being disclosed to other Registered Users or Project Initiators. The extent to which such data may be disclosed to other Registered Users will be based on the content of the consent granted. Registered Users can view the content posted on the Platform by other Registered Users.
By entering his/her Profile Data on Account on the Platform, Registered User represents that he/she:
1. has the right to the Profile Data and makes the same available to an unlimited number of persons;
2. the Profile Data does not violate any generally applicable laws and regulations, third-party rights, in particular any rights to intangible assets and personal rights, or the principles of social coexistence;
3. by posting his/her Profile Data on the Platform (including, in particular, photos, forum entries, reviews, etc.), Registered User grants to Revofund an indefinite, in terms of time and territory, non-exclusive and free-of-charge licence to use the above Profile Data in the Platform’s activities, and in particular to maintain the same in the resources of Revofund’s IT system, as well as to use his/her image, or represents that he/she has the consent of the third parties whose images he/she has posted on the Platform as Profile Data.
4. Registered User undertakes to support Revofund in any judicial or extrajudicial proceedings resulting from third-party claims regarding the Profile Data posted on the Platform by Registered User, as well as to remedy any damage suffered by Revofund from such claims, and
5. acknowledges that the Platform is not a tool for recording and storing his/her Profile Data. Revofund does not guarantee that the content posted by Registered User will be permanently available on the Platform’s website and, in the broadest scope permitted by the law, is not liable for its loss by Registered User.
Unless expressly provided for in these Terms of Service, Revofund is not required to check the content posted by Registered Users on the Platform. If any of the Profile Data posted on the Platform violates generally applicable laws and regulations, third-party rights, principles of social coexistence, or the Terms of Service, Revofund should be advised of this by a message sent to the e-mail address indicated in Section 1 para. 4 of these Terms of Service, indicating the Internet address at which the given content is available and the nature of the breach.
Revofund has the right to remove such disputable Profile Data until the final resolution of a dispute with a third party in the cases referred to in paragraph 6 sub-paragraph d) herein above in a manner allowing for the Profile Data to be resubmitted, and in the cases referred to in paragraph 7, until it has been confirmed that the breach did not take place.
By declaring to crowdfund Project and conclude Transaction, Registered User:
1. if he/she is a natural person – provides the Personal Data necessary to conclude the Transaction, i.e. first and last name, national identity (PESEL) number, address of residence, names of the parents, date and place of birth, number and series of the national ID card, and information about the authority which issued the identity document (the required data may vary for the various types of legal transactions to be carried out), as well as contact information required for communication with Registered User – telephone number and email address
2. if he/she represents a legal person or an organisation unit without legal personality, but registered in the National Court Register and having legal capacity – provides the name of the entity, its registered office, address, VRN (NIP) and UTR (REGON) number and the KRS number and identifies the persons authorised to represent it and provides contact information required for communication with Registered User – telephone number and email address
3. declares that he/she has read the information about the risk related to the Transaction and the information about the Project and Project Initiator, as made available for the purposes of the Campaign, and is aware of the investment risk;
4. declares that he/she has full legal capacity;
5. declares that he/she has the funds to conclude the Transaction and that they come from lawful sources that can be documented at the request of competent authorities,
6. declares that he/she meets the regulatory requirements of the law of his/her jurisdiction and the jurisdiction in which information about the Project and Campaign is disseminated,
7. undertakes to keep confidential any and all information and documents made available to him/her on Campaign Subpage.
After submitting the Transaction declaration in accordance with pt. 9, Revofund shall authorize the declaration submitted by the Registered User, by contacting him on the telephone number given at the registration no later than within 3 working days of submitting the declaration. The condition for an effective Transaction is positive authorization by Revofund. Lack of this authorization will result in the removal of the declaration of participation in the Transaction. In this case, the offer submitted by the Registered User will not be binding for Project Initiator.
Registered User interested in participating in Special Project submits a declaration of interest to the email address provided by Project Initiator. Project Initiator may expect to receive from Registered User further information enabling verification of his/her compliance with the terms and conditions of participation in Special Project or authorization by Revofund; The provision of further information is free of charge, voluntary, and is exclusively for the information of Project Initiator, however, it may be conditional on participation in a Special Project.

§ 6. General rules of running Campaigns by Project Initiators

The Campaign run by Project Initiator in order to crowdfund a Project is live for a definite period, not longer than three months, as indicated each time in the Project description posted on the Platform and set forth in a separate agreement with Revofund. The duration of a given Campaign may be extended in consultation with Revofund, however, for a period not longer than up to 6 months from the date of commencement of the collection of declarations to conclude Transaction via the Platform.
Project Initiator has the right to stipulate that:
1. the Project will be implemented and his/her obligations towards Registered Users will be fulfilled on the condition that the minimum sum of the expected funds has been raised; or
2. the Project will be implemented and his/her obligations towards Registered Users will be fulfilled on the condition that the entire sum of the expected funds has been raised; or
3. in the event of the declarations to provide funds exceeding the value of the Project, Project Initiator will have the right to reduce the number of the declarations submitted or select Registered Users with whom to conclude the Transaction in keeping with the rules stipulated and published on the Campaign’s Subpage.
In such a case, Project Initiator is obliged to advise in the Project description of such a stipulation and of the rules of concluding the Transaction.
Project Initiator may run Special Project and reserve the option of contacting and inviting to the Transaction selected Registered Users who have delivered to Project Initiator expressions of interest in participating in Special Project and authorization by Revofund. In such a case, access to Campaign Subpage maintained for Special Project may be provided to such invited Registered Users.
Revofund and or Project Initiator has the right to cancel any Campaign at any time, however, not later than on the day preceding the conclusion of the Transaction, in cases indicated in Campaign Subpage. In the event of Campaign being terminated, Project Initiator is obliged to return the monies paid by Registered Users to their bank accounts within 3 business days after the termination date of the Campaign.
If Project Initiator raises no objections, as contemplated in paragraph 2, he/she will unconditionally implement the Project and fulfil his/her obligations towards Registered Users as described in detail in the Project description and in accordance with the Transaction procedures specified in the Appendices No. 1-3 to the Terms of Service.
Any monies to be advanced for the purpose of a given Campaign shall be paid by electronic means of remote payment to the Escrow Account maintained under the agreement concluded with Project Initiator, or to Project Initiator’s bank account by transferring monies from the Registered User’s bank account. The method of payment is specified in the Project description.
In the event of failure to raise the minimum or the entire sum of funds for the purpose of current Campaign, as set forth by Project Initiator, the monies deposited in the Escrow Account or Project Initiator’s bank account will be returned to Registered Users no later than 3 business days after the End of Campaign date. The costs of maintaining the Escrow Account and Project Initiator’s bank account, including the return of monies to the accounts of Registered Users, will be covered by Project Initiator.

§ 7. Revofund’s duties and responsibilities

Revofund shall make all reasonable efforts to ensure the correct provision of Services to Users and Registered Users in accordance with the provisions of the Terms of Service, in particular by:
1. ensuring efficient operation of the Platform,
2. ensuring proper protection of Accounts and Users’ Profile Data,
3. ensuring the Platform’s operation in accordance with the applicable laws and regulations.
Revofund undertakes to advise Users and Registered Users about the planned modernisation of the Platform or maintenance breaks and the ensuing temporary disruption of access to the Platform or Account by placing a relevant announcement on the Platform. Revofund reserves that due to the above-mentioned activities there may be temporary disruptions preventing the conclusion of Transactions between Registered Users and Project Initiators.
Revofund shall not be held liable for:
1. impediments to the Platform’s operation or unavailability of some of the Platform’s functionalities caused by improper technical configuration of the devices used by Users and Registered Users to connect to the Platform, force majeure, unauthorised actions by third parties, or failures of the ICT network or the power supply grid;
2. losses caused to Registered User by third parties who have gained access to his/her Account as a result of careless activities by Registered User (e.g. in a situation where he/she did not ensure confidentiality of the Account password or did not log out of the Account) and losses caused by improper use of the Account by Registered User;
3. for temporary disruptions of Users’ or Registered Users’ access to the Platform or Account in connection with repairs of defects or modernisation of the Platform or circumstances of force majeure or prohibited actions by third parties;
4. any content posted on the Platform by Registered Users;
5. losses caused in effect of incorrect or illegal activities of Users or Registered Users;
6. acts or omissions by third parties, in particular Project Initiators or providers of services for Project Initiators or Revofund, as well as Experts.
7. for any content and materials related to a given Project, posted by Project Initiators on the Project Subpage,
8. non-performance or improper performance by Project Initiator of an agreement or another duty in respect of Users or Registered Users.
9. Lack of possibility to authorize User’s account or the inability to make a Transaction as a result of negative authorization by Revofund
10. failure to achieve the targets, profits, or business performance expected by Users or Registered Users in connection with the Services.
Subject to mandatory legal provisions, Revofund shall not be held liable for any losses suffered by third parties that are directly or indirectly related to the use of the Services by Users or Registered Users.
Subject to mandatory legal provisions, Revofund shall not be liable for any lost profits of Users or Registered Users that are directly or indirectly related to the use of the Services by Users or Registered Users.
Revofund is not the recipient of declarations of will or offers submitted as part of Campaigns, nor an agent in concluding agreements or other legal transactions between Registered Users and Project Initiators, in particular Revofund does not provide financial agency services, nor is it a party to any Transactions concluded between Registered Users and Project Initiators.
Whenever Revofund posts information about Project on the Platform and enables Project Initiator to run his/her Campaign, this is not a recommendation for Registered Users to invest in a given Project.
All content and materials related to a given Project are owned and come only and exclusively from Project Initiator. Revofund does not interfere in any way with the content and materials prepared by Project Initiator.
Revofund does not guarantee that Project Initiators will perform the agreements entered into as a result of Transaction being concluded, or any other existing or prospective obligation between Registered Users and Project Initiators, and shall not be held liable for their non-performance or improper performance by either Party.
Revofund does not recommend Experts and does not evaluate their skills and qualifications in terms of quality of the services they provide. Project Initiator, Registered User, or Investor, by commencing cooperation with an Expert, selects the Expert at his/her own risk. Revofund shall not be held liable for non-performance or improper performance by either Party. Revofund, with the consent of Expert and Project Initiator, may publish information provided by that Expert to that Project Initiator. Registered User, with the consent of Expert, may publish information provided by that Expert to that Registered User.

§ 8. Users’ and Registered Users’ duties and responsibilities

Users and Registered Users stand committed to abide by the provisions of the Terms of Service and the generally applicable laws and regulations, they may use the Services only for their own purposes, corresponding with the purposes and properties of the Services.
Users are required to provide in the registration form the real personal data necessary for the correct performance of the Agreement for the Provision of Services.
In case of any subsequent change of the personal data stored in the Account on the Platform, Registered User is required to immediately update such personal data, using the appropriate form available on the Platform website.
Registered User undertakes not to use the Account assigned to another Registered User and not to disclose his/her Account to third parties, as well as to keep his/her Account password secret. Registered User undertakes to notify Revofund of any unauthorised access to his/her Account.
Users and Registered Users bear sole responsibility for ensuring that the data provided to Revofund on filling out the registration form and when using the Services are correct, true, and updated.
Registered Users bear sole responsibility for making their Accounts available to third parties and for not keeping secret the passwords to their Accounts.
Users and Registered Users of the Platform are prohibited from:
1. posting on the Platform any content that contravenes the law, or breaches any personal rights of third parties, or overrides common decency, in particular any content inciting racial, ethnic, or religious hatred, containing pornography, praising Nazism, communism, propagating violence, is vulgar, offends religious feelings, or infringes on the rights of others.
2. using their Accounts to send out advertising messages, including unsolicited commercial information within the meaning of the provisions of the Act of 18 July 2002 on the provision of services by electronic means (OJ No. 144, item 1204, as amended) and mass non-addressed deliveries, i.e. “spamming”,
3. providing untrue or incomplete data for registration on the Platform,
4. interfering in the operation or functioning of the Platform, unlawfully tampering with the data structure and ICT systems of the Platform, also by transmitting viruses, worms, bots, etc.
5. using the information provided about Project, Project Initiator, and Campaign for any purposes other than those related to the Transaction,
6. infringing on intellectual property rights vested in other Users and Project Initiators, Revofund or other third parties.
Subject to Section 5 para. 8 of the Terms of Service, Revofund is entitled to remove from the Platform any content and information referred to in para. 7 above, of which Registered User will be given notice by Revofund at his/her e-mail address, in accordance with Section 13 para. 1 of the Terms of Service.
The information displayed on Campaign Subpage is intended only for Registered Users and may not be disseminated outside the Platform. Dissemination of information displayed on Campaign Subpage in other jurisdictions than Poland may be subject to separate legal regulations in place in such jurisdictions. Any persons who have acquired such information and disseminate it outside Poland should comply with the relevant local laws and regulations, on pain of being legally liable in accordance with the provisions of such laws and regulations. Revofund and Project Initiator are not responsible for such information being distributed in contravention of the provisions of the Terms of Service.

§ 9. Personal data protection

Personal data of Users and Registered Users are processed on the Platform in accordance with the applicable laws and regulations, in particular the provisions of the Regulation of the European Parliament and of the Council (EU) 2016/679 of 27 April 2016 on the protection of individuals with regard to data processing personal data and on the free movement of such data and repeal of Directive 95/46 / EC (General Data Protection Regulation) of 27 April 2016 (Journal of Laws of the EU, No. 119, page 1) hereinafter referred to as “GDPR” and the Personal Data Protection Act, taking into account the principles set out in the Act on the Provision of Services by Electronic Means.
The administrator of Personal Data of Users and Registered Users of the Platform is Revofund spółka z ograniczoną odpowiedzialnością (limited liability company) headquartered in Poznań at ulica Wojskowa 4 (60-792 Poznań), registered in the register of companies of the National Court Registry maintained by the Sąd Rejonowy Poznań Nowe Miasto i Wilda w Poznaniu, VIII Wydział Gospodarczy Krajowego Rejestru Sądowego (District Court for Nowe Miasto and Wilda, No. 8 Commerce Division, National Court Registry) under the KRS entry number 0000734857, VRN (NIP) number 7792491393 and UTR (REGON) number 380456257, share capital of PLN 10,000.
Details of individual processing operations.
1. Category: Users

Goal	Legal basis	Period of personal data processing
Use of the website and ensuring its proper operation (server administration)	The legal basis for data processing is art. 6 s. 1 pt. f) GDPR – processing is necessary for the purposes of the legitimate interests pursued by the controller consisting of managing the website www.revofund.com	2 years since the last visit on the website
Providing personalized content (based on IP address and cookie files) Details of cookies can be found in the Privacy Policy	The legal basis for data processing is art. 6 s. 1 pt. f) GDPR – processing is necessary for the purposes of the legitimate interests pursued by the controller consisting of managing the website www.revofund.com	2 years since the last visit on the website
Registration for the event	The legal basis for data processing is art. 6 s. 1 pt. a) GDPR – consent. Consent may be canceled at any time. Canceling consent will be tantamount to resignation from taking part in the event.	Until the consent is withdrawn
Creating an account on the platform	The legal basis for data processing is art. 6 s. 1 pt. b) GDPR – processing is necessary for the performance of a contract to which the data subject is party or in order to take steps at the request of the data subject prior to entering into a contract.	During the term of agreement
Newsletter sending	The legal basis for data processing is art. 6 s. 1 pt. a) GDPR – consent. Consent may be canceled at any time. Canceling consent will be tantamount to resignation from newsletter.	Until the consent is withdrawn
Handling of inquiries from the contact form	The legal basis for data processing is art. 6 s. 1 pt. a) GDPR – consent. Consent may be canceled at any time. Canceling consent will be tantamount to resignation from receiving feedback on the inquiry submitted.	Until the consent is withdrawn
Claiming and defense against claims	Processing is necessary for the purposes of the legitimate interests pursued by the controller (art. 6 s. 1 pt. f) GDPR – defence of interest of Revofund sp. z o.o.	For a period of limitation for claims

b. Category: Registered Users

Goal	Legal basis	Period of personal data processing
Registration of a Registered user as an expert	The legal basis for data processing is art. 6 s. 1 pt. a) GDPR – consent. Consent may be canceled at any time. Canceling consent will be tantamount to resignation from expert role	Until the consent is withdrawn
Provision of services specified in the Regulations	The legal basis for data processing is art. 6 s.1 pt. b) GDPR – processing is necessary for the performance of a contract to which the data subject is party or in order to take steps at the request of the data subject prior to entering into a contract;	During the term of agreement
Providing the registered user with the possibility of customizing their profile data with a photo that may contain an image	The legal basis for data processing is art. 6 s.1 pt. f) GDPR – processing is necessary for the purposes of the legitimate interests pursued by the controller involving the use of the permission granted in the Regulations to use the image	Until an effective objection has been submitted
Direct marketing of own services (beside newsletter)	The legal basis for data processing is art. 6 s.1 pt. f) GDPR – processing is necessary for the purposes of the legitimate interests pursued by the controller involving business marketing	Until an effective objection has been submitted
Claiming and defense against claims	The legal basis for data processing is art. 6 s.1 pt. f) GDPR – processing is necessary for the purposes of the legitimate interests pursued by the controller involving defence of interest of Revofund sp. z o.o.	For a period of limitation for claims

If the legal basis for the processing of personal data is consent, then its withdrawal shall not affect the lawfulness of data processing that was carried out prior to withdrawal.
Users or Registered Users are free to provide any of their Personal Data on a voluntary basis, however, it is a prerequisite for an activity for which the provision of data is necessary
Users and Registered Users have the right to:
1. access their Personal Data,
2. correct and update their Personal Data,
3. request to have their Personal Data removed,
4. request to have the processing of their Personal Data restricted,
5. transfer their Personal Data,
6. object to the processing of their Personal Data at any time – for reasons mentioned in art. 6 s. 1 pt. f) GDPR
7. withdraw the consent to the processing of their Personal Data at any time without any impact on the lawfulness of their processing on foot of the original consent prior to its withdrawal – as long as the processing of such Personal Data requires such consent to be granted.
User or Registered User may exercise the rights indicated in paragraph 6 herein above at any time by sending a request to Revofund’s e-mail address in accordance with Section 13 para. 1 of the Terms of Service.
Revofund is required to fulfil such request immediately after the verification of the request itself and of the person who has submitted it. If Personal Data are requested to be removed or transferred, or their processing is requested to be restricted or is objected to, or the original consent is withdrawn (as long as the processing of such Personal Data requires such consent to be granted) this may prevent further provision of the Services to and further use of the Account by Registered User and serve as the grounds for termination of the Agreement for the Provision of Services.
Revofund may remove Personal data of Users and Registered Users in the following cases:
1. Personal data are no longer necessary for the purposes for which they were gathered or processed otherwise;
2. User or Registered User has withdrawn the consent his/her data being processed and there exist no other legitimate grounds for such processing;
3. User or Registered User has lodged an objection pursuant to Art. 21 s. 1 GDPR regarding the processing of his/her Personal Data and no overriding legitimate grounds exist for the processing of such Personal Data;
4. User or Registered User has lodged an objection pursuant to art. 21 s. 2 GDPR regarding the processing of his/her Personal Data;
5. Personal data have been processed unlawfully;
6. Personal Data must be removed in order to comply with a legal obligation under the European Union law or the law of the Member State applicable to Revofund.
Users and Registered Users may request Revofund to restrict the processing of Personal Data in the following cases:
1. when they claim their Personal Data are incorrect – for a period allowing to rectify such Personal Data;
2. if the processing of their Personal Data is unlawful and User or Registered User objects to his/her Personal Data being removed and instead requests to restrict their use;
3. when their Personal Data are no longer necessary for the purpose of processing, but are necessary to establish, assert, or defend claims;
4. when User or Registered User has lodged an objection pursuant to Art. 21 s. 1 GDPR against his/her Personal Data being processed – until it is established whether legitimate grounds exist for such processing that override his/her objection.
Users’ personal data or Registered Users may be transferred to entities cooperating with Revofund in the organization and operation of the Platform, e.g. entities dealing with IT, legal, consulting and accounting services to the extent necessary for the service provided, as well as entities providing postal and courier services. In such a case, Revofund may transfer Personal Data for processing to these entities, while maintaining the legal conditions and standards for the protection of such Personal Data specified in applicable law.
Revofund may transfer Personal Data outside the European Economic Area in connection with its cooperation with non-EEA entities for the purpose of maintaining the IT infrastructure. Personal Data may be transferred on the basis of appropriate legal mechanisms such as standard contractual clauses, the Privacy Shield regime, or other similar legal instruments provided for in the GDPR – 45 or art. 46
Registered User may resign from the Services provided via the Platform. In such a case, Personal Data of Registered User will be removed or anonymised, unless further processing of his/her Personal Data is justified by law or the legal interests of Revofund, e.g. for the purpose of dealing with claims.
In connection with Revofund processing their Personal Data via the Platform, Users and Registered Users have the right to lodge a complaint with the supervisory body – the President of the Office for Personal Data Protection.
In case of any doubts, please contact our Data Protection Inspector: iodo@revofund.com Revofund sp. z o.o., ul. Wojskowa 4, 60-792 Poznań.

§ 10. Complaints

User or Registered User has the right to lodge a complaint if the Services are provided improperly or are not provided at all, or if they are provided contrary to the Terms of Service.
The complaint submitted by User or Registered User should contain at least the following information: a) Personal Data of User/Registered User enabling his/her identification; b) an exact description of the non-conformity being the cause of the complaint; as an option, User may propose a method of removing the non-conformity indicated in the complaint.
User may submit the complaint at his/her discretion in the manner and form laid down in Section 13 para. 1 of the Terms of Service.
Revofund is required to consider the complaint within 14 (fourteen) days from the date of receipt of the complaint and deliver the reply in the manner in which Revofund received the complaint and to the address from which Revofund received the same.
The timeframe for considering the complaint may be extended in justified cases, and Revofund is required to notify User of this fact before the expiry of the timeframe referred to in the previous sentence.
Complaints should be submitted within 14 (fourteen) days after the date of occurrence of the non-conformity being the cause of the complaint.

§ 11. Termination of the Agreement for the Provision of Services

The Agreement for the Provision of Services may be terminated by each of the Parties on the terms and conditions set out in this Section.
Registered User may terminate the Agreement for the Provision of Services at any time with immediate effect by removing his/her Account from the Platform. Such removal by Registered User of his/her Account from the Platform does not prevent him/her from creating a new Account on the Platform and entering into a new Agreement for the Provision of Services.
Revofund is entitled to terminate the Agreement for the Provision of Services with immediate effect by blocking Account, after giving notice to Registered User and indicating the reason for termination, in the event when:
1. Registered User uses the Services or Account in contravention of the provisions of the Terms of Service, generally applicable laws and regulations, or the rules of social coexistence;
2. Registered User, using the Services or Account, has violated the rights of third parties (including, in particular, intangible rights), or personal rights of third parties;
3. Registered User, when filling out the registration form or when using the Services, entered false or incorrect Personal or Profile Data, if this has made it significantly difficult or impossible to provide the Services;
4. Registered User has not updated his/her Personal or Profile Data, even though these have changed, if this has made it significantly difficult or impossible to provide the Services;
5. Registered User has objected to his/her Personal Data being processed for the purposes related to the performance of the Agreement for the Provision of Services, has requested to restrict the processing of or remove his/her Personal Data, thus preventing Revofund from properly performing the Agreement for the Provision of Services;
6. Registered User has undertaken activities leading to a violation of security rules or compromising the security of the provision of Services;
7. Registered User has acted to the prejudice of Revofund.
Revofund’s notice of termination of the Agreement for the Provision of Services shall take effect on the date of its receipt by Registered User.
The termination of the Agreement for the Provision of Services by Revofund may be preceded by a temporary cessation of the provision of Services or by blocking Account. Registered User will be given notice of this fact at his/her e-mail address in accordance with Section 13 para. 1 of the Terms of Service.
Registered User, being a consumer within the meaning of the provisions of the Civil Code, is entitled to terminate the Agreement for the Provision of Services without giving any reasons and at no cost within 14 days after the date of the conclusion of the Agreement for the Provision of Services.
The right to terminate the Agreement for the Provision of Services shall not apply, if, prior to the expiry of the timeframe specified in the preceding sentence, Registered User has given prior consent to Revofund launching the provision of Services. The notice of termination of the Agreement for the Provision of Services may be submitted in accordance with the provisions of Section 13. para. 1 of the Terms of Service or on the form within the Annex No. 2 to the Act on Consumer Rights.

§ 12. Changes to the Terms of Service

Revofund reserves the right to change the Terms of Service if there is an important reason, such as:
1. changes in the generally applicable laws and regulations affecting the provision of Services by Revofund to Users and Registered Users;
2. changes to the technical conditions of providing Services by Revofund to Users and Registered Users, including those related to technical or technological progress;
3. an organisational or legal change in the operation of the Platform or Revofund,
4. changes to the rules of the provision of Services to Users or Registered Users in connection with the development of the Platform’s operation.
Revofund is required to notify Users and Registered Users about the planned changes to the Terms of Service and to make the new terms of service available on the Platform at least 14 (fourteen) days before the new regulations come into force.
In exceptional circumstances, in particular if the amendments to the Terms of Service result from a change to the generally applicable laws and regulations, the timeframe set forth in Section 11. para. 1 sub-paragraph a) of the Terms of Service may be reduced adequately to the circumstances justifying the reduction of this timeframe.
The notice to Users and Registered Users about the planned change of the Terms of Service shall be posted on the Platform in such a way that it is visible and legible for each User of the Platform.
The new Terms of Service shall take effect on the date set in the notice of the amendment to the Terms of Service, subject to the provisions of Section 11. paragraphs 2 and 3 of the Terms of Service.
Should Users and Registered Users continue using the Platform once the amendments to the Terms of Service have taken effect, they shall be deemed to have accepted such amendments and to have committed themselves to abide by the amended Terms of Service.

§ 13. Miscellaneous

Any and all notices and statements related to the conclusion, performance, withdrawal or termination of the Agreement for the Provision of Services shall be given electronically by e-mail or in writing by registered mail or by courier, subject to the provisions of Section 11. paragraph. 4 of the Terms of Service, to the following addresses:
1. for Revofund
  - e-mail address: office@revofund.com
  - address for correspondence: Revofund sp. z o.o. ul. Wojskowa 4, 60-792 Poznań;
2. for Registered User:
  - e-mail address: the e-mail address provided by a User in the registration form
  - address for correspondence: the address for correspondence provided by a User in the registration form;
and shall become effective upon their receipt by the other Party, except for the consumer’s notice of termination of the Agreement for the Provision of Services, which in order to be effective must be sent before the deadline set out in Section 10 paragraph. 6 of the Terms of Service.
Revofund is not responsible for being unable to give notice or statement to Registered User due to such Registered User providing a false or incorrect e-mail address or mailing address, as well as due to incorrect operation of the mail server operating Registered User’s mailbox. In such a situation, if Revofund sends e-mails in accordance with the provisions of Section 13. sec. 1 of the Terms of Service, Revofund shall be deemed to have fulfilled the duty to give notice to Registered User.
Neither Party may assign the rights and obligations under the Agreement for the Provision of Services to any third parties, unless the other Party agrees to this in writing, on pain of such assignment being void and null.
The Parties undertake to amicably settle any disputes arising from the performance of the Agreement for the Provision of Services, and if the Parties fail to settle the dispute amicably, the appropriate court to settle the same shall be the court of justice with jurisdiction over the registered office of Revofund. The provision within the first sentence of Section 13 para. 4 of the Terms of Service does not apply to consumers within the meaning of the Civil Code.
The parties have the right to use the following amicable and out-of-court procedures of dealing with complaints and asserting claims:
1. mediation – conducted by the Regional Trade Inspection Inspectorates and their branch offices (http://poznan.wiih.gov.pl/index.php/postepowanie-polubowne/)
2. regular arbitration courts operating at the Regional Trade Inspection Inspectorates.
The details of the rules of access to out-of-court procedures for dealing with complaints and asserting claims can be found on the website of the Office for Competition and Consumer Protection at the URL: http://www.uokik.gov.pl/spory_konsumenckie.php.
If the appropriate court finds that any provision of the Terms of Service is unlawful, this provision shall be excluded, and the remaining provisions of the Terms of Service shall remain valid and binding upon Revofund and User, if they are sufficient to achieve the purpose of the Agreement for the Provision of Services.
The Agreement for the Provision of Services shall be governed by the laws of Poland. Any matters not regulated by the Terms of Service shall be governed by the provisions of the generally applicable Polish laws and regulations, in particular the Civil Code and the Act on the Provision of Services via Electronic Means.
The Terms of Service have been published on the Platform and made available in a form enabling their fixation and recording on a computer hard disk or other data carrier, on 25th July 2018.
The Terms of Service shall take effect on the day when published.

Appendix No. 1 to the Terms of Service of the Internet platform revofund.com

General terms and conditions of transactions

§ 1. Definitions

The capitalised words and phrases within these Appendices no. 1 – 4 to the Terms of Service shall have the meanings ascribed to them in Section 2 of the Terms of Service or specified herein below.

Auction – a process of concluding Loan Agreement through the available functionalities of the Platform, in which Project Initiator, as the Auction organiser, in keeping with the procedure laid down in the Appendix no. 3 to the Terms of Service, receives bids from Auction Participants and the Auction Participant or Participants who have offered the highest bid or bids are committed to enter into Loan Agreement. Auction ends with so-called hammer strike, i.e. listing of the highest bids offered by Registered Users and confirming that Loan Agreements have been concluded in accordance with the list.
Benefit – voluntary additional financial or non-financial benefit offered by Project Initiator to the selected Investor or Investors to who have offered the highest bid to crowdfund the Project.
Float – a procedure through which Project Initiator doing business as a limited liability company increases his/her share capital by issuing new Shares and offers them to Registered Users in return for certain cash contributions. Float ends when declarations on subscription of new Shares in the share capital of Project Initiator are lodged for and on behalf of the Registered Users who have paid their declared contributions to cover the Shares they have subscribed.
Bid Memorandum – an offer posted on the Platform to sell to Registered Users Shares in the share capital of Project Initiator doing business as a limited liability company, posted on Campaign Subpage and containing a description of the Project and the business of Project Initiator, on foot of which Project Initiator obtains from Investors the monies necessary to facilitate the Project in return for their subscription of Shares in the increased share capital of Project Initiator.
Auction Announcement – a notice prepared by Project Initiator and presenting the proposed terms and conditions of entering into Loan Agreement with Project Initiator, the terms and conditions of participating in and conducting the Auction, information on the securities (if any) backing the Loan Agreement, description of the Project and the business of Project Initiator, on foot of which the Auction will be conducted.
Financial Services Operator – the bank maintaining the bank account of Registered User from which Registered User makes payments to the Escrow Account or Project Initiator’s account.
Negotiations – provided for under the Civil Code and as part of the Platform’s functionalities, the legal form of concluding the Investment Agreement, consisting in agreement with the Project Initiator and other interested Investors, on the basis of accepted Term Sheet, the terms of the Investment Agreement, in accordance with the procedure specified in Appendix No. 4 to the Terms of Service.
Power of Attorney – an authority granted to the natural person named therein, on foot of which that person is authorised to make for and on behalf of Registered User any statements necessary to enter into a limited liability company of Project Initiator and to subscribe the paid Shares.
Hammer strike – drawing by the Project Initiator the protocol of the acceptance of the most favorable offers submitted by Auction Participants, resulting in the conclusion of Loan Agreements with them.
Auction Participant – Registered User who is interested in advancing a loan and participates in the Auction in keeping with the procedure set forth in the Appendix no. 3 to the Terms of Service.
Share – a part of the share capital of Project Initiator doing business as a limited liability company representing the nominal value named in the Articles of Association of the company, at least of PLN 50 (fifty zloty), subscribed by Investors in return for the monies they have paid.
Loan Agreement – a civil law agreement under which the lending Investor undertakes to transfer to the borrowing Project Initiator a certain amount of money, and the Project Initiator undertakes to pay back the same amount.
Investment Agreement – a two or multilateral unnamed civil law agreement in which the Investor or Investors and the Project Promoter or persons representing the Project Initiator undertake to perform the Transaction in the manner and on the terms specified in detail in this contract, which regulates in particular the rights and obligations of the parties to the Transaction, principles exercising management and supervision over the Project Initiator, as well as disinvestment conditions.
Term Sheet – a document prepared by the Project Initiator containing the pre-conditions of the Transaction, inviting the Negotiations of the Investment Agreement on terms specified therein, whose acceptance by the Investor is the basis for starting and conducting Negotiations via the Platform, to determine the specific conditions Transactions in the Investment Agreement.

§ 2. General terms and conditions

Registered User may participate in Transaction as one of the parties thereto, i.e.: either as Project Initiator or Investor, utilising the available functionalities of the Platform.
Transaction may be either:
1. equity – subscribing Shares,
2. debt – concluding Loan Agreement,
3. Investment Agreement concluding on the basis of the Transaction Term Sheet.
The type of Transaction and the terms and conditions of its conclusion are laid down by Project Initiator on Campaign Subpage.
Project Initiator may offer Benefits to selected Investors. A description of the Benefits and the terms and conditions on which the same are granted are posted on Campaign Subpage.
Transactions may be concluded in respect of Special Projects. In such a case the Bid Memorandum, Auction Announcement or Term Sheet may be sent to Registered Users selected by Project Initiator. The terms and conditions of concluding Transaction specified in Appendices 1 -4 apply accordingly to Special Projects, except that these may be entered exclusively by invited Registered Users.
Registered Users do not incur any costs related to Project Initiator’s operations, Campaign or Transaction, other than the cost of power of attorney to subscribe Shares and the costs of the ensuing bank transfers.
The terms and conditions of Transaction are laid down in:
1. for equity – Bid Memorandum
2. for debt – Auction Announcement
3. in the case of conducting Negotiations to conclude a Transaction – Term Sheet.
The Bid Memorandum, Auction Announcement or Term Sheet is prepared by Project Initiator in collaboration with selected Expert or Experts and published on Campaign Subpage. Revofund is not responsible for the text of the documents posted by Project Initiators on Campaign Subpage.
Registered Users who have declared to pay monies to crowdfund the Project (whatever the type of Transaction) are required to pay such monies by the applicable deadline set on Campaign Subpage, under the conditions specified by the Project Initiator in the Campaign Subpage. Registered User has the right to waive or modify his/her investment only in the cases set out in the terms and conditions of Transaction that apply to the given Project and comply with the terms and conditions set forth in the Appendix no. 2 or 3 to the Terms of Service.
Project Initiators are at different stages of development, hence the Projects which Project Initiators seek to be financed may carry a high risk in terms of their feasibility or achieving the expected financial results. Revofund is not responsible for Investors’ success or failure in achieving the expected results of their investment in Projects. The sole responsibility for this rests with Project Initiator in charge of the Project.
If interested in an investment opportunity, each Registered User should on their own verify and assess the information provided by Project Initiator in the description of his/her Project and business, in particular by enquiring with Project Initiator, analysing Project Initiator’s documents, Bid Memorandum, Auction Announcement or Term Sheet. Registered Users should not solely rely on Project Initiators’ assurances in relation to their development and plans. Such assurances are given at the very start of Campaign on the Platform, and the effects of Project Initiator’s operations in the future may vary from their assurances.
An investment in Projects entails a risk which each time is described by each Project Initiator. Each Registered User should read the risk description for the given Project and make an informed decision whether to crowdfund such Project or consult an investment counsel or legal counsel prior to entering into Transaction.
Any information about the Project or Project Initiator published outside the Platform are not part of the description of the Project being the purpose of the Campaign run via the Platform.
Revofund does not act as an agent in any money transfers or financial settlements between Investor and Project Initiator.

Appendix No. 2 to the Terms of Service of the Internet Platform revofund.com

Rules of subscription of shares floated by Project Initiator

In order to crowdfund a Project for which funds are raised by means of a Float, Registered User declares to invest a certain sum of money and undertakes to pay the monies so declared by the deadline set forth on Campaign Subpage, transmits the required Personal Data or registration details of the entity he/she represents and makes the statements required under Section 5 para. 9 of the Terms of Service. Registered User may make additional declarations to pay monies for a given Project.
Processing of an offer submitted by a Registered User depends on the positive authorization of the offer and the Registered User by Revofund made in accordance with § 5 para. 10 of the Regulations.
Having done this, Registered User receives at his/her e-mail address provided on registration on the Platform the following documents and information:
1. the maximum deadline by which to pay the monies, not later than 14 days prior to the scheduled End of Campaign and the Escrow Account number or bank account of Project Initiator,
2. Project Initiator’s Bid Memorandum,
3. the template of the Power of Attorney to subscribe Shares which sets out the number of Shares offered in return for the monies paid,
4. an advice letter how to prepare and send back the Power of Attorney.
Registered User may take part in the Float, provided that he/she has paid the monies declared to the indicated Escrow Account or bank account of Project Initiator and signed and sent back the notarised Power of Attorney by the required deadline in keeping with the advice letter.
Inappropriate performance of even one of the foregoing procedures or non-performance by the deadlines set forth in the advice letter will thwart the Transaction with Registered User.
In the event of the Account being removed by Registered User or Revofund, whatever the reason for this, in keeping with the Terms of Service, until the end of the Float the monies paid by Registered User shall be paid back within 3 business days following the Account’s removal date. In such a case Registered User does not participate in the Float.
The monies paid by Registered User shall also be paid back within 3 business days following the End of Campaign in the event of the appropriately executed notarised and signed Power of Attorney not being sent back by the required deadline, or within 3 business days after the revocation of the Campaign in the cases contemplated by Project Initiator in Campain subpage.
Should the value of the monies paid not tally with the total or minimum value of the Project laid down on Campaign Subpage, the monies paid by Registered Users shall be returned within 3 business days after the End of Campaign, unless the Campaign period is extended with the consent of Project Initiator and Revofund in keeping with Section 6 para. 1 of the Terms of Service.
If it is decided to extend the Campaign period, Registered Users who have done everything necessary to conclude the Transaction may, within given time period, lodge a declaration of resignation from their participation in the Campaign by sending the letter of resignation to the e-mail address of Project Initiator, against confirmation of the receipt of the e-mail message. In such a case the monies paid by Registered User shall be paid back within 3 business days after the date of receipt of the letter of resignation at the e-mail address of Project Initiator.
Should the declarations of payments exceed the total (maximum) value of the Project, Project Initiator shall reduce the number of the declarations or select the Registered Users with whom to conclude the Transaction, on the terms and conditions published on Campaign Subpage. If the funds raised tally with the value of the Project or exceed this value, each Registered User shall be advised of the Campaign having come to an end and of the number of Shares allotted to them in effect of the Float. Any monies paid to cover the Shares that have not been allotted due to the reduction, or those paid by Registered Users who have not been allotted any Shares, shall be paid back within 3 business days after the end of the Float.
Campaign may be terminated prior to its scheduled completion, should the declarations of payments gathered reach the value of the Project prior to the scheduled date. If Registered Users make any payments to the Escrow Account of the bank account of the Company after the termination of the Campaign, their monies shall be paid back to them at the latest 3 days after they are credited to the Escrow Account or the bank account of the Company.
After the Float, Project Initiator shall make a list of shareholders and then, at the latest six months after adopting the resolution to increase the share capital, shall apply to the competent court of registration with territorial jurisdiction to record the increased share capital in the National Court Register. Investors shall become shareholders in Project Initiator’s company once the increased capital has been recorded in the National Court Register maintained by the competent court of registration with territorial jurisdiction. Investors shall be advised by Project Initiator that the increased share capital has been recorded in the National Court Register and that they have been listed in the register of shareholders in the company of Project Initiator.
In the event of the request for registration of the increased capital not being lodged with the court of registration within six months after the adoption of the resolution to increase the share capital, or after the registration court’s decision to dismiss the said request for registration of the increased capital taking effect, the monies paid by Registered Users shall be paid back at the latest 3 business days, accordingly, after the expiry of the six-month timeframe for lodging the request for registration with the court of registration, or after the effective date of the court’s decision.
Campaign Subpage shall feature information of the sum of the monies declared or paid to facilitate the given Project throughout the Campaign period. Registered Users shall be advised of the End of Campaign prior to the expiry of the scheduled Campaign period, as well as of the extension or revocation of the Campaign.
Should any monies paid to the account of Registered User or Investor not be paid back in keeping with the terms and conditions within the Appendices 1-3 to the Terms of Service posted on Campaign Subpage, Registered User may claim his/her money back from Project Initiator. Revofund is not responsible for the return of these monies to Registered Users or Investors, or for the operations of the Payment Service maintaining the Escrow Account.

Appendix No. 3 to the Terms of Service of the Internet Platform revofund.com

Rules of Auctions for concluding Loan Agreements

In order to crowdfund a Project for which funds are sought to be raised by means of Loan Agreements, Registered User, in response to Auction Announcement, offers to conclude Loan Agreement and bids a loan sum that conforms to the terms and conditions of the Auction and Auction Announcement, and proposes the interest rate, as well as undertakes to pay the declared monies by the deadline featured on Campaign Subpage, transmits the required Personal Data or registration details of the entity he/she represents, and makes the statements required under Section 5 para. 9 of the Terms of Service. Bids may be offered throughout the period laid down in the Auction Announcement, however, not later than 14 days prior to the scheduled end of the Auction.
Processing of an offer submitted by a Registered User depends on the positive authorization of the offer and the Registered User by Revofund made in accordance with § 5 para. 10 of the Regulations.
Auction is conducted on the terms and conditions set forth in the Auction Announcement and in the Appendices no. 1-3 to the Terms of Service by Project Initiator as the Auction organiser. The terms and conditions of the Auction may only be changed in the event when this has been stipulated in the text of the Auction Announcement and for the reasons specified therein. Revofund is not responsible for any consequences of errors or mistakes made by Project Initiator, or by Registered Users and Investors in the course of the Auction.
In the event of the Account being removed by Registered User or Revofund, whatever the reason for this, in keeping with the Terms of Service, during the Auction period, until the end of the Auction Registered User shall be excluded from participation in the Auction. In such a case any monies paid by Registered User shall be paid back within 3 business days following the Account’s removal date.
Registered User may not withdraw his/her offer to conclude Loan Agreement. However, Registered User may at any time, but not later than due time set by Project Initiator before Auction closing, modify his/her bid by declaring more favourable terms and conditions of concluding Loan Agreement with Project Initiator. In such a case the less favourable bid shall no longer be binding on Project Initiator.
Should the value of the bids to conclude Loan Agreements offered by Registered Users not tally with the total or minimum value of the Project, the Auction shall not be closed, and Registered Users shall be advised of the fact, unless the Campaign period is extended with the consent of Project Initiator and Revofund in keeping with Section 6 para. 1 of the Terms of Service. In such a case the Auction period shall be extended by additional time of the Campaign period.
If it is decided to extend the Campaign period, Registered Users who have done everything necessary to conclude the Transaction may, within timeframe set at Campaign Subpage, lodge a declaration of resignation from their participation in the Campaign by sending the letter of resignation to the e-mail address of Project Initiator, against confirmation of the receipt of the e-mail message, which is tantamount to revocation of the bid offered in the course of the Auction. In such a case the monies paid by Registered User shall be paid back within 3 business days after the date of receipt of the letter of resignation at the e-mail address of Project Initiator
When the Auction comes to a close the bid to conclude Loan Agreement is binding on the Registered User who has won the Auction. In the event when the total or minimum value of the Project consists of more than one bid to conclude Loan Agreement, the Auction be won by all or some Registered Users.
Should the total value of the bids to conclude Loan Agreement offered by Registered Users exceed the total (maximum) value of the Project, Project Initiator shall select the most favourable bid or bids offered by Registered Users in keeping with the terms and conditions set forth in the Auction Announcement.
Registered Users who participate in the Auction shall be given notices to pay the declared sum to the Escrow Account or the bank account of the Company due time set at Campaign Subpage. Further participation in the Auction is conditional upon payments being made within timeframe set at Campaign Subpage.
Auction shall be closed by the so-called hammer strike, i.e. naming the winners of the Auction, listing their names and the most favourable bids, and confirming the conclusion of Loan Agreements in accordance with the said list. Once the Auction has been closed, Loan Agreement is concluded between Investor and Project Initiator on the terms and conditions set forth in the Auction Announcement and the bid offered by Investor during the Auction. In the case contemplated in paragraph 8 herein above, any monies paid by Registered Users who have not won the Auction shall be paid back to their bank accounts within 3 business days after closing the Auction.
Auction may be closed prior to the scheduled date set forth in the Auction Announcement in the event of its revocation on the terms and conditions set forth in the Auction Announcement, as well as in the event when the declarations of payment in the minimum or total value of the Project have been received before the End of Campaign date, providing, however, that this has been stipulated in the Auction Announcement. In such a case, Registered Users shall be advised of the new End of Auction date and the deadline for paying the monies, as contemplated in para. 9 herein above.
Registered Users who have won the Auction shall be advised of the hammer strike results by receiving the following documents:
1. copy of the hammer strike report,
2. Confirmation of Conclusion of Loan Agreement together with the terms and conditions of Loan Agreement,
3. documents necessary to register securities backing Loan Agreement (if such securities are stipulated in the Auction Announcement),
4. advice letter how to prepare and send back the Confirmation of Conclusion of Loan Agreement and other documents.
Lack of signature on the Confirmation of the conclusion of the Loan Agreement or its omission by the Investor does not affect the effectiveness of the concluded Loan Agreement, but it may result in adverse legal consequences for the Investor or prevent the Project Initiator from fulfilling all obligations provided for in the loan agreement.
Project Initiator stands committed to take measures in order to secure Investors’ claims in accordance with the Auction Announcement and the Loan Agreements concluded, immediately after having received all the necessary documents. Investors shall be given notice that Project Initiator has taken the measures necessary to register securities backing Loan Agreements by the deadlines set forth in the Auction Announcement.
Should Project Initiator decline to do whatever is necessary to register such securities by the deadline specified in the Auction Announcement for any reasons for which Project Initiator is responsible, Investors shall have the right to terminate their Loan Agreements within the timeframes and on the terms and conditions set forth in the Auction Announcement.
In the event of a court decision taking effect, resulting in the refusal to register the required security, Project Initiator is entitled to propose a new security to Investors.
In the event of Loan Agreement being terminated by Investor, Project Initiator is required to pay back the monies paid by that Investor to his/her bank account within 3 business days after the termination date of Loan Agreement, as described in accordance with the rules set forth in the Auction Announcement.
Revofund is not responsible for Project Initiators’ performance of Loan Agreements, nor for their fulfilment of the duty to register securities and how Investors will actually benefit from such securities.

Appendix No. 4 to the Terms of Service of the Internet Platform revofund.com

Rules for negotiating and concluding Investment Agreements

In order to co-finance the Project, under which funds are obtained through Negotiation in the form offered by the Project Initiator in the Term Sheet, Registered User declares the will to make the investment in a specified amount, indicating the initial investment amount and committing to conduct Negotiation in good faith, in order to determine the terms of the Investment Agreement on the basis of the Term Sheet published in the Campaign Subpage, and also provide the required Personal Data or data of the entity that represents and submits the statements required in accordance with § 5 para. 9 of the Regulations.
Submission of the investment declaration to and accession of the Registered User to Negotiations with the Project Initiator depends on the positive authorization of this declaration and the Registered User by Revofund made in accordance with § 5 para. 10 of the Regulations.
After completing the above-mentioned activities and positive authorization by Revofund, the Registered User receives the following documents and information:
1. Term Sheet
2. The draft of he Investment Agreement
3. the draft of the Timing of Negotiations
4. other possible documents necessary to conclude an Investment Agreement – depending on the type of Transaction being carried out.
A Registered User may participate in Negotiations with the Project Initiator under the condition of accepting the terms of conducting the Transactions with Investors with whom the Project Initiator has already concluded Investment Agreements, even if they were concluded before the commencement of the Campaign. In such a case, the Registered User will be informed by the Project Initiator of these conditions and in the absence of their acceptance, he may withdraw from the submitted declaration of Negotiations or join them within the time specified in the received schedule.
The Project Initiator is entitled to conduct Negotiations with one or more Registered Users. In the Campaign Subpage, the Project Initiator publishes information on the method of selecting Registered Users to conduct Negotiations, in particular on the basis of the order of declarations of joining them, the amount of co-financing declared or the terms of Transactions most closely related to the Term Sheet.
If it is not possible to reach an agreement on additional terms of Transactions not covered by the Term Sheet or delays in conducting Negotiations against the Accepted Schedule by more than 30 days (thirty days), Registered User or Project Initiator may withdraw from the Negotiations at any time.
Withdrawal from the concluded Investment Agreement is possible only if the Investment Agreement provides such a right for the Investor or the Project Initiator.
In the Campaign subpage there is information about the amount of declared or paid funds for financing a given Project, throughout the duration of the Campaign. Registered Users are informed about the date of Completion of the Campaign before the specified time of running it, about the extension of the Campaign, as well as its cancellation.

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