TERMS OF USE

Definitions

Except where the context otherwise requires, or unless otherwise defined elsewhere, capitalised terms shall have the meaning given to them below.

- "Loan Contract" refers to the contract concluded between the User and the Partner

- "Duration" refers to the duration of the Loan in months

- "Microentrepreneur" refers to the microentrepreneur or group of microentrepreneurs selected by the User through a Project Page

- "Project Page" refers to the web page available on the Website on which are listed the identity of the Microentrepreneur, their photograph, the identity of the Partner, the Microentrepreneur's project description, the amount of the loan requested and its Duration. In the event that the User selects a group of entrepreneurs only the identity of the Representative of the Microentrepreneur shall be mentioned

- "Partner" refers to the microfinance institution that the Microentrepreneur originally contacted to get funding for their Project, and through which the User can finance the Microentrepreneur

- "Country" refers to the country in which the Partner and the Microentrepreneur exercise their activity

- "Portfolio" refers, on the personal space of the User, to the list of Loan Contracts concluded by the User and provides an indication of repayments made or to be made by the Partners

- "Loan" refers to a loan of money that the User wishes to make to a Partner so that it can finance the selected Microentrepreneur

- "Project" refers to the Microentrepreneur's project for which the Microentrepreneur wishes to obtain a Loan

- "Representative of Microentrepreneur" refers, in the case where the Microentrepreneur is a group of microentrepreneurs, to the person designated by the group as their representative on the Website

- "Website" refers to the website veecus.com reachable at http://www.veecus.com

- "User" refers to the person or entity that wishes to make a Loan to a Partner so that it can finance the selected Microentrepreneur



These Terms of Use govern any transaction made on the Website (www.veecus.com) between the company Veecus, editor of Website, the User and the Partner. The parties fully accept the Terms of Use.

The Terms of Use shall prevail over all other conditions contained in any document, unless previously expressly agreed in writing.

The Terms of Use are subject to change. Hereby, the User and Partner are invited to consult them regularly and if necessary print them.

For the implementation of the loan, the User shall conclude the Loan Contract directly with the Partner.



Preliminary statement :

The Website is proposed by Veecus which owns exclusive rights concerning the Website.

The User declares :

- the User is above the age of emancipation in its country if he/she makes a loan

- the User is the owner of the funds and freely disposes of them

- the User is not in a position of guardianship or curatorship or any other measure limiting its ability to accept the present agreement and the Loan Contract

- the funds come from legal activities



The User is informed that, under the proposed transaction, it does not benefit from the tax deductibility provisions exclusively applicable to the donation. The proposed transaction is a Loan without interest to a Microentrepreneur with a solidarity purpose.



Article 1 - Purpose

The Website aims at enabling Microentrepreneurs to develop their Projects through Loans made by Users.

The Website is an interface platform where Users and Partners meet, the Partners being intermediaries in the relationship between Users and Microentrepreneurs. The Website also provides Users with their personal space and a blog and allows them to browse Project Pages and Users profiles.

The purpose of the contract between the User and Veecus is to put the User in touch with the Partner in order to conclude the Loan Contract and to proceed to the payment of the Loan made by the User to the Partner. Veecus Users are held regularly informed on the Website about the progress of the Project and repayment of the Loan.

Veecus does not intervene in the execution of the Loan Contract and does not provide any service of any kind regarding the recovery of the Loan.



Article 2 – Veecus remuneration

Upon confirmation of validation of their first Loan Contract, the User pays a fee of one (1) euro all taxes included. The registration fee occurs only once and contributes to Veecus remuneration for having created the relationship between the User and Partner.



Article 3 – Conditions of conclusion of the Loan Contract

The conditions of the Loan Contract between the User and Partner are detailed in the contract presented to the User after selecting the Microentrepreneur and validating the Loan amount.

The minimum amount of a Loan is twenty (20) euros. The amount of the Loan may be increased in multiples of 20 euros.

Veecus is not involved in any way in the execution of the Loan Contract. Veecus has received no mandate to collect funds of Users or Partners. Veecus' role only consists in being an interface between the User and the Partner and transferring the Loan amount on the Partner's bank account. Veecus can not be held responsible for the breach or faulty execution of the Loan Contract by the Partner.

The general conditions applicable to the Loan Contract are available on the Website.

In particular :

- the User grants a Loan without interest and shall not claim any interest on the Loan

- the Loan Contract is concluded under the condition that one or more Users fund the full amount displayed on the Project Page, and that the Users do not exercise their right of withdrawal. Accordingly, the Loan Contract shall enter into force only when all conditions precedent are fulfilled. If the Project is not fully financed, refer to the stipulations of Article 5 hereof. In addition, Veecus may temporarily suspend the funding of a Microentrepreneur and accordingly delay the date of entry into force of the Loan Contract. Users will be informed of the entry into force of the Loan Contract by electronic mail

- the Partner is allowed to charge an interest to the Microentrepreneur in order to cover its operating costs

- For reasons of exchange rate at the moment of determination of the Project amount, it may be that a residual fraction of the Loan amount contribute to finance other microentrepreneurs of the Partner



The conclusion of the Loan Contract requires that the User have an electronic mailbox to send and receive e-mails. Otherwise, the User may not receive written confirmation of their order.

Contractual information is presented in English and shall be subject to confirmation in the form of an electronic order form containing the contractual information, including the description of the Loan and the address of the User.

Veecus keeps the references of orders placed on the Website on electronic format in reasonable condition of security. The order, the invoice and the Loan Contract are archived on a reliable and sustainable format so as to correspond to a true and lasting copy, in accordance with Article 1348 of the Civil Code.

The Portfolio of each User indicates a list of the Loan Contracts signed by the User and mentions outstanding Loans as well as completed and cancelled Loans.

At maturity of the Loan Contract, the Partner guarantees the repayment of the Loan by the Microentrepreneur, and commits, in case of failure of the Microentrepreneur, to repay the User.

The User acknowledges and is fully informed that given the situation of the Country, the Partner and the Microentrepreneur there is a risk that the Loan amount may not be repaid. Veecus provides the User on the Website with information on microfinance, its operations and the risks associated with microfinance.



Article 4 – Validation

The double–click or validation button materialise validation of the Loan Contract by the User. With this validation, the User declares that they fully accept the conditions of the Loan Contract and the Terms of Use without exception.

The User will receive a receipt of validation for their order.



Article 5 – Availability of Loan requests on the Website

The loan requests posted on the Website are proposed to the User provided that :

- the Microentrepreneur has not renounced to its project for refinancing

- at the moment when the User accepts, the Project has not already been fully funded

- in the two months following the date on which the Project Page has been posted on the Website, the total Loan amount requested by the Microentrepreneur to the Partner is fully funded

- Veecus is not lead to suspend, temporarily or permanently, relations with the Partner, especially in the case where Veecus doubts about the probity or the solvency of the Partner, or because the Partner loses necessary authorizations for the exercise in the Country of an activity of credit

- Veecus does not withdraw the Project Page from the Website because of doubts it might have on the Microentrepreneur, the sincerity of their project or the destination of lent funds



In the cases listed above, the Loan Contract will ipso facto be terminated. The User shall be notified by e–mail. The User shall have the option either to demand repayment of the Loan on their account or to choose a new Microentrepreneur and conclude a new Loan Contract with the same Partner or another Partner.



Article 6 – Repayment

The User shall be repaid for the amount of the Loan in two installments:

- the first installment in the month following mid-cycle of the Loan Contract, equal to one half of the Loan amount.
- the second installment in the month following maturity of the Loan Contract, equal to the remaining half of the Loan amount.

The Partner shall transfer at mid-Loan cycle and at maturity of the Loan Contract the corresponding amounts on a dedicated account opened by Veecus in a bank established in France.

The User shall be informed of the repayments of the Loan by e�mail, as well as on their portfolio.

When the first repayment is proceeded, the User has the option to affect totally or partially the amount of the Loan to a Microentrepreneur selected on the Website. A new Loan Contract will be signed between the User and the corresponding Partner that cannot be less than 20 euros. If the amount repaid in the first repayment is less than 20 euros, the User shall top up the new Loan amount so that it is equal to at least 20 euros.

If the User does not use their option to make a new Loan, the repaid amount shall remain on their Veecus online account, visible in the Portfolio.

At maturity the User has the option to :

- Either get totally or partially repaid of the amount of the Loan by transfer to an account that the User shall indicate to Veecus
- Or affect totally or partially the amount of the Loan to a Microentrepreneur selected on the Website. A new Loan Contract will be signed between the User and the corresponding Partner

In the event that the amount of the Loan is not repaid at maturity by the Partner, Veecus shall inform the User who shall choose personally whether to take any action against the Partner for the recovery of due amounts.

In the event that the amount of the Loan is only partially repaid at maturity by the Partner, Veecus shall inform the User who shall choose personally whether to take any action against the Partner for the recovery of due amounts. The amount repaid by the Partner shall be distributed among the various Users who participated in financing the same Project in proportion to their participation in financing the Project. It is expressly stated that Veecus only provides an account so that the Partner can ensure the repayment of the User. Veecus shall never get involved in the recovery of amounts owed by the Partner in the event of failure of the Partner.

If at maturity of the Loan Contract, Veecus is unable to contact the User (either because the User has changed their address and failed to inform Veecus or because the User did not respond to letters sent by Veecus) the amount of the Loan will be kept by Veecus for a maximum period of 3 years. After this time, the User already expressly agrees to donate the amount of the Loan to any association active in the field of microfinance chosen by Veecus.



Article 7 – Termination of the partnership between Veecus and the Partner

Veecus may have to terminate its partnership with the Partner in the following cases :

- the Partner loses the necessary authorisations to carry on its business

- the Partner does not affect the Loan made by the User to the financing of the Microentrepreneur selected by the User



Veecus may then request the Partner the early repayment of all sums owed by the Partner under the Loan Contracts concluded with Users.

In such an event where the partnership between Veecus and the Partner is terminated, and provided that the Partner has repaid early all the sums it owes to User, Veecus shall inform the User who may opt for either of the solutions set out above concerning the repayment of the Loan at maturity.

If at maturity of the Loan Contract, Veecus is unable to contact the User (either because the User has changed their address and failed to inform Veecus or because the User did not respond to letters sent by Veecus) the amount of the Loan will be kept by Veecus for a maximum period of 3 years. After this time, the User already expressly agrees to donate the amount of the Loan to any association active in the field of microfinance chosen by Veecus.



Article 8 – Payment

Payment of the Loan amount, plus the remuneration paid to Veecus in the event that it is the first Loan made by the User, is made by credit card, through a PayPal account, or any other means of payment, as may be accepted by Veecus.

The card or PayPal account is debited at the time of validation of the order by signing the Loan Contract.



Article 9 – Security

The Website is subject to a security system to protect as effectively as possible all sensitive data related to means of payment.

The bank data is transmitted at once upon payment by credit card online. This transmission is carried out through a secure data encryption technology.



Article 10 – Deadline for withdrawal

The User has the possibility for a period of 7 days after the confirmation of his order to cancel the Loan Contract without having to provide any justification. When the deadline expires on a Saturday, Sunday or a holiday, the deadline is extended until the first following business day. In the case that the User exercises their right of withdrawal, the User will be repaid the full amount on the account used by the User to proceed to payment after validating of the Loan Contract.

The User must inform Veecus of their intention to exercise their right of withdrawal by regular mail or electronic mail.



Article 11 – Contacts

For any information or questions, the User can contact:
Phone: +33 (0) 6 28 34 32 14
Address: Veecus, 25 rue Lacaze, 75014 Paris FRANCE
The Website: http://www.veecus.com



Article 12 – Disclaimer

The services offered on the Website are in accordance with the French legislation. Veecus can not be held responsible in case the services offered on the Website fail to comply with the laws of the User's country. It therefore belongs to the User to check with local authorities the possibility to conclude the Loan Contract.

Veecus can not be held responsible for the failure of the Loan Contract and in particular the non–repayment of the Loan by the Microentrepreneur or by the Partner.

The User acknowledges that they are fully informed that despite the care taken by Veecus in selecting the Partners and monitoring their situation, Veecus does not guarantee the solvency of the Partner nor that of the Microentrepreneur.

The information contained on Project Page has been collected and transmitted by the Partner. The User acknowledges that they are fully informed that, due to geographical distance and level of development of the country, Veecus is physically unable to verify information on the Microentrepreneur which is therefore transmitted under the sole responsibility of Partner.

The User is informed that :

- the countries in which the Partner and Microentrepreneurs are located are countries subject to political and economic instability. Veecus recommends that the User visit the website of the French Ministry of Foreign Affairs, reachable at http://www.diplomatie.gouv.fr/en/ to be fully informed of the economic and political situation of the Country

- changes in exchange rates and particularly the depreciation of the currency of the Country may affect the Partner's ability to repay, as the Partner bears the risks of change. Indeed, the sums lent by the User in euros are paid in euros to the Partner which converts them into local currency. The repayment of the Loan by the Microentrepreneur is made in local currency to the Partner, which converts into euros to repay the User



Article 13 – Governing Law – Language of Contract – Jurisdiction

The Terms of Use are governed by and construed in accordance with French law. Any translation is written for information only. Consequently, the translation may not be relied upon to sustain any legal claim.

In case of dispute, only the French text shall have any legal value. All disputes arising out of or in connection with the Contract or its interpretation or performance shall be resolved by the competent French courts to whose jurisdiction the parties hereby irrevocably submit.



Article 14 – Personal information – Content

The information provided by the User shall be used by Veecus and its providers and by the Partner and its providers to process the order and to strengthen and customize our communication.

In the event that the User fails to provide requested and mandatory information, the order shall not be validated.

This information may also be communicated to some of Veecus commercial partners, particularly in order to allow the User to benefit from personalised information and services.

In accordance with the provisions of Article 27 of bill No. 78–17 of 6 January 1978, as amended by the Act of 6 August 2004, relating to computers, files and freedoms, the User has a individual right of access, modification, correction and deletion of their personal information. The User may request that their information be corrected, supplemented, clarified, updated or deleted when they are inaccurate, incomplete, misleading, outdated or when they want to prohibit the collection, use, disclosure or conservation of such information.

The User can proceed to such a request online or by mail indicating the name, address the following coordinates:
Phone: +33 (0) 6 28 34 32 14
Address: Veecus, 25 rue Lacaze, 75014 Paris FRANCE
The Website: http://www.veecus.com

The User shall inform Veecus of any change in their postal or electronic address. Veecus has to be able to contact the User at maturity of the Loan Contract to repay the User. In the event that this information is not updated by the User, Veecus could be materially unable to repay the User.

When the User gives content to the Website, the User grants Veecus a non–exclusive, worldwide, perpetual, irrevocable, royalty–free, sublicensable (through multiple tiers) right to exercise the copyright, trademark, publicity, and database rights (and any other right necessary to host the content) the User has in the content, in any media known now or in the future.

Unless expressely mentioned, users are not allowed to download, print, copy, execute, etc, any information contained on the Website.

Before creating any link towards the Website, users shall receive prior agreement from Veecus.

Veecus owns and has exclusive rights on the brand and domain name Veecus and all logos, content and brands deriving from it.

While using the Website, Users agree not to :

- post content or items in an inappropriate category or areas on our sites and services

- violate any laws, third party rights

- circumvent or manipulate our fee structure, the billing process, or fees owed to Veecus sarl

- post false, inaccurate, misleading, defamatory, or libelous content (including personal information)

- take any action that may undermine the feedback or ratings systems (such as displaying, importing or exporting feedback information off of the Website or using it for purposes unrelated to Veecus)

- transfer your Veecus account (including feedback) to another party without our consent

- distribute or post spam, chain letters, or pyramid schemes

- distribute viruses or any other technologies that may harm the Website or Veecus, or the interests or property of Users

- copy, modify, or distribute content from the Website and Veecus' copyrights and trademarks

- harvest or otherwise collect information about users, including email addresses, without their consent