TERMS AND CONDITIONS OF USE – PRRFund
1. The object of the Platform
PRRFund is a collective funding platform that allows users eligible to invest capital in startups and innovative projects through schemes of equity (equity crowdfunding). Its sole purpose is to facilitate opportunities for regulated investment with potential financial return, under the applicable law in Puerto Rico and the united States.
It is expressly prohibited the use of the platform for donation campaigns, personal loans, or models based on rewards without component stock.
2. Owner and Operator of the Platform
PRRFund is operated by a legally constituted entity in Puerto Rico (U.S.), acting in accordance with the provisions of the Securities and exchange Commission (SEC), the Financial Industry Regulatory Authority (FINRA), the Office of the Commissioner of Financial Institutions (OCFI) and other federal laws and regulations or local laws.
The platform can act as a portal of funding participatory registered or in association with one duly authorized.
3. Eligibility and Registration of Users
May only register in PRRFund natural persons over 18 years of age, with full legal capacity, and that meet the regulatory criteria in force. The participation in certain offers may be restricted to “accredited investors” as defined in the regulations of the SEC, or be subject to investment limits based on income, assets or residence of the user.
The user declares and guarantees that the information provided at the time of registration is true and complete. PRRFund reserves the right to request additional documentation, perform verification of identity (KYC), and suspend or terminate accounts that do not comply with legal requirements, or to submit suspicious activity.
4. Publication and Approval of Projects
All the projects available on the platform have been selected and approved by PRRFund through processes of analysis, due diligence and internal criteria of eligibility.
Not be permitted to direct or independent project on the part of users. PRRFund reserves the sole right to decide what projects are listed, as well as to remove or modify any publication without prior notice.
5. Information and Transparency
Each project will have a detailed profile that will include your business model, legal documentation, risk factors, financial projections, and any other item required by the applicable rules. Investors should read and understand all the available information before making investment decisions.
PRRFund not guarantee the accuracy of the information provided by the issuers of projects, although it made reasonable efforts to validate its integrity and relevance. It is up to each user to make their own independent assessment.
6. Process of Investment and Custody of Funds
The investments are made on-line through electronic payment methods provided by secure gateways. The funds provided by the users will be maintained in trust accounts until it meets the conditions of funding set out for each project.
In case of failure to reach the goal of minimum funding, the funds will be returned in full to the investors without interest or additional compensation.
Investments are considered to be firm once executed, except as provided in the rules of cancellation or withdrawal when you apply.
7. Communication and Support
In order to preserve the transparency and prevent conflicts of interest, PRRFund offers no features messaging to private or public forums of interaction between users, or with the leaders of the projects.
All the updates, press releases and additional documentation will be published through the official channels of the platform.
The support team will be available to answer general enquiries via electronic means designated. Does not provide financial advice, legal or tax custom.
8. Risks Associated with the Investment
Investments in companies in early stage lead to elevated risks of total loss of the invested capital, low liquidity, lack of collateral and high uncertainty. Not guarantee any return and past performance is not indicative of future results.
PRRFund is not acting as a financial advisor nor promotes projects such as safe investments. The user acknowledge and agree that you participate at your own responsibility and that he has been informed about the risks inherent in this type of instruments.
9. Intellectual Property
All content, trademarks, logos, text, graphics, code and design of the platform are the sole property of PRRFund or its licensors. Its use is limited to the legitimate interaction with the web site.
It is forbidden its reproduction, distribution or modification without express authorization.
Projects retain ownership of its contents, granting PRRFund you a limited license to its publication, promotion and use for operational purposes within and outside the platform.
10. Data protection and Privacy
The users ' personal information will be collected and treated in accordance with the Privacy Policy of PRRFund, in compliance with the data protection laws applicable.
PRRFund will use technical and organisational measures to ensure the security, confidentiality and integrity of the data.
The user authorizes PRRFund to share your data with service providers (such as payment gateways or verification of identity) to the extent necessary to operate the platform, as well as to comply with legal obligations, regulatory, or judicial.
11. Modifications
PRRFund may modify these Terms and Conditions at any time. Changes will be communicated via the website and will take effect from their publication.
Your continued use of the platform after such changes will be deemed acceptance by the user.
12. Limitation of Liability
PRRFund will not be responsible for investment decisions, results of projects, service interruptions, errors of third party, events of force majeure or for indirect damage arising from the use or impossibility of use of the platform.
In any case, the maximum liability of PRRFund shall be limited to the total amount of fees the user has paid to the platform in the previous six months, the fact generator.
13. Jurisdiction and Applicable Law
These Terms and Conditions are governed by the laws of the commonwealth of Puerto Rico and the U.s. federal law that applies.
Any dispute will be submitted to the competent courts of San Juan, Puerto Rico, or alternative resolution mechanisms previously agreed upon, such as arbitration.
