General Terms and Conditions of the Investown Crowdfunding Platform

Effective as of 01/03/2022

1. Introductory provisions


1.1. Operator

The operator of the Platform is Investown Technologies s.r.o., with its registered office at Inovační 122, Hodkovice, 252 41 Zlatníky-Hodkovice, IČO: 086 67 144, registered in the Commercial Register maintained by the Municipal Court in Prague, Section C, Insert 322874.


1.2. Platform Terms and Conditions

These Terms and Conditions govern the rights and obligations when using the Platform, as well as other related legal relationships, including mutual relations of Users and relations of Users with the Operator.

In addition to the rules set out in these Terms and Conditions, the User is also subject to the Privacy Policy available at: https://www.investown.com/privacy-policy


1.3. What is the Platform and what services are provided through it

The Platform is a crowdfunding platform managed in accordance with the ECSPR Operator.

The purpose of the Platform is to enable Users, i.e. Project Owners and Clients who wish to invest in their Projects, to use technical solutions through which they can provide each other with funds in the form of loans for the purpose of financing individual Projects. The platform is not used to provide or intermicgate consumer loans. The owners of the Projects may be only legal entities and, where appropriate, also natural persons doing business.

Loans are provided to Project Owners only if the receivables from the Loan are secured by a lien on real estate or other Security specified in the Offer that relates to a particular Project. A condition for obtaining financing for the Project through the Platform is the conclusion of a Loan Agreement between users in accordance with the procedure set out in these Terms and Conditions. The relevant Loan Agreement is an agreement concluded exclusively between the Client as the lender and the Project Owner as the borrower.

The Operator points out that the services provided through the Platform do not include any investment services within the meaning of § 4 par. 1 to 3 zpkt or any payment services within the meaning of § 3 para. 1 ZPS. The operator does not perform any activity with the exception of the provision of crowdfunding services, which would require a permit or other authorization of the Czech National Bank.

2. User Registration


2.1. Requirements for the Project Owner

Only legal entities and natural persons doing business can become owners of the Project. A legal entity may only be the Owner of a Project if it is registered in the appropriate register maintained in a country that is a member of the EEA, through its representative, who is a natural person. In the case of a natural person doing business, only a person over 18 years of age may become the Owner of the Project. Only a person who is the owner of a current account held with an authorized credit institution registered in the Commercial Register maintained in a state that is a member of the EEA may become a credited Project Owner.

A person who does not meet these requirements may be the Owner of the Project only if the Operator has given written consent to this.

The Project Owner does not register on the Platform. The contractual relationship between the Project Owner and the Operator arises from the conclusion of the Financing Agreement.


2.2. Requirements for the Client

A legal entity may be a Client only if it is registered in the relevant register maintained in a country that is a member of the European Economic Area. A legal entity may register as a Client only through its representative, who is a natural person. Such a representative of a legal entity must be a registered Client as a natural person before submitting an application for registration of a legal entity. In the case of a natural person, only a person over 18 years of age may become a Client. A client may only be a person who holds a current account held with an authorised credit institution registered in the Commercial Register maintained in a Member State of the EEA.

A person who does not meet these requirements may be a Client only if the Operator has given written consent to do so.


2.3. Creation of a Client Account and conclusion of the Agreement on the Use of the Platform

Anyone who intends to use the Platform and the services provided by the Operator as a Client must register on the Platform. For this purpose, the relevant person must provide the Operator with all identification and contact details required in the registration form and create a password.

In connection with the registration, the Operator is entitled to request all information and documents so that he can carry out the identification and control of the registering person in accordance with the applicable legislation in the field of measures against the legalization of proceeds of crime and the financing of terrorism.

For these purposes, the Operator is entitled to require the Client to do the following in particular:

  1. data and documents necessary to identify and verify the identity of the Client, the person acting on behalf of the Client and the beneficial owner of the Client;
  2. information on the nature and scope of the business, on the ownership and management structure or on the sources of the Client's funds to serve as a deposit of the Client;
  3. make a payment to the Investown wallet from a payment account maintained in the Name of the Client with an authorised credit institution registered in the Commercial Register maintained in a Member State of the EEA.

Before completing the registration, the Client is obliged to familiarize himself with these Terms and Conditions, the General Credit Terms and The Privacy Policy and confirm his/her agreement with their wording by ticking the appropriate box within the registration form and entering the verification code that the Client receives from the Operator via SMS message to the telephone number specified during registration. Registration is completed by entering the appropriate verification code.

By confirming the registration by the Operator, a Client Account is created and a Contract for the Use of the Platform is created, the content of which is, inter alia, these Terms and Conditions. The Client expresses its will to become a party to the Agreement on the Use of the Platform by ticking the appropriate box within the registration form.

The Client may have only one active Client Account on the Platform. All subsequently created Client Accounts may be deleted by the Operator without prior notice.


2.4. Name and password of the Client

The Client may access the Client's account on the basis of login data, which consists of a name that is identical to the Client's e-mail address and password. The Operator may, among other things, prescribe requirements for a combination of letters and/or numbers constituting the password and require regular change of the chosen password for security or other reasons.

The name and password of the Client are the personal data of the respective Client and are used to identify him/her each time he logs on to the Platform, makes transactions or otherwise acts through the Platform.

The Client is obliged to maintain confidentiality regarding the information necessary to access his Client Account and is not entitled to allow the use of his Client Account to third parties. In the event that the password becomes known to third parties, the Client is obliged to change it immediately.

The Operator is entitled to assume that the person who uses the Client's name and password is a person authorized to act on behalf of the Client in accordance with the relevant legal regulations. In the event that the Operator believes that there is a risk that the Name and Password of the Client is in the possession of a third party, the Operator is entitled to limit the Rights of the Client or may refuse to follow his instructions.


2.5. Rights of the Operator in connection with registration

The Operator may, at its sole discretion, refuse the Registration of the Client or set additional requirements for the Registration of the Client, or change the existing requirements or the registration process at its sole discretion at any time. The Operator is entitled to refuse the Client's registration, impose additional registration requirements on the Client or limit the services available to the Client through the Platform, especially if it turns out that the Client's statements made in connection with the registration are false, incomplete or misleading.

3. Investown wallet


3.1. Investown wallet and its purpose

Each Client who has a Client Account has an Investown wallet within their Client Account, which is used to carry out transactions of the respective Client within the Platform and to record his receivables. The Investown wallet reflects, among other things, the balance of funds that the Client has transferred to the Operator. Investown wallet is not a payment account within the meaning of ZPS.

Investown wallet is kept in Czech crowns. Also, all transactions are carried out in Czech crowns and rounded to whole pennies in favor of the Operator. The Operator is entitled not to accept a deposit in another currency and to return it to the bank account from which it was received.

The Operator keeps the funds transferred to the Client separately from its own funds on the account in a special regime pursuant to Section 41f of the ZoB. The Client is not entitled to any interest on the funds transferred to the Operator.

The Operator may, at its sole discretion, set limits or requirements on the minimum or maximum amount of funds available in the Investown wallet.


3.2. Deposits and withdrawals to the account

In order to identify the Client, all deposits of funds must be provided with the variable symbol of the Client, which is listed on the Platform in the section relating to deposits of funds. The Operator is not obliged to make deposits not marked with the variable symbol of the Client. If the Client does not provide the correct information at the Request of the Operator, the Operator shall return the funds to the bank account from which they received them.

Unless otherwise stated in these Terms and Conditions, the Client may at any time and in any amount withdraw a positive balance from his Investown wallet by giving the Operator the appropriate instruction. Deposits and withdrawals from the Investown wallet will be made by the Operator within 72 hours at the latest.

The Operator is entitled to refuse to accept any deposit into the Investown wallet or withdrawal from the Investown wallet if it is a payment from or to an account maintained with a bank other than a bank based in the EEA, or for other reasons arising from legal regulations, these Terms and Conditions or the Operator's reasonable concerns regarding a possible violation of legal regulations to protect against money laundering or terrorist financing. The Operator is entitled to demand compensation from the Client for the costs associated with the return of funds in the event of a rejected deposit, up to CZK 1,000. Withdrawal from the Investown wallet is only possible to the bank account from which the deposit was made to the Investown wallet or which was otherwise approved through the Platform.


3.3. Other Restrictions on Investown Wallet Transactions

The Investown Wallet is used only to carry out transactions in direct connection with the operation of the Platform, i.e. for transactions foreseen by these Terms and Conditions.

The Operator is not obliged to carry out any transaction related to the Investown wallet, in particular if:

  1. the transaction violates the provisions of these Terms;
  2. the execution of the transaction would violate a legal regulation or an enforceable decision of a court or other state authority;
  3. the balance in the Investown wallet is not sufficient to carry out the transaction; or
  4. The Operator suspects that the transaction was not entered by the Client.

The Funds in the Investown Wallet are only entitled to be disposed of by the Client through their Client Account, and only up to the amount of the balance in the Investown wallet, except in the cases specified in these Terms and Conditions.

3.4. Authorization of the Operator

The Client authorizes the Operator to use the funds in his Investown wallet to carry out transactions and other actions to which the Client has committed himself in accordance with the Terms and Conditions or other arrangements concluded by the Client to which these Terms refer.

In this context, the Client authorizes the Operator in particular:

  1. to transfer funds between Clients and Loaned Project Owners in connection with the fulfilment of obligations arising from the Loan Agreement, or between Clients in connection with the assignment of Receivables;
  2. to transfer the Client's funds to the Operator in connection with the fulfilment of obligations under the Agreement on the Use of the Platform;  
  3. to reserve funds or to transfer funds to a special account of the Project in connection with making an Acceptance of the Offer.


4. Publication of projects on the Platform


4.1. Reliability assessment

Only the Project Owner may apply for publication on the Platform and obtaining a loan for its financing. The Project Owner may apply for financing of his Project through the Platform only if the Provision of Collateral.

Each Project Owner who is interested in financing through the Platform must fill in the relevant application form for the publication of the Offer on the Platform and pass the Reliability Assessment in accordance with the procedure laid down by legal regulations and internal regulations of the Operator.

The Project Owner is obliged to cooperate with the Operator in assessing reliability and to provide the Operator with all information and documents about himself and about the Project to be financed through the platform, i.e. in particular those information and documents that are necessary for assessing the credibility and creditworthiness of the Project Owner. The Operator may require, among other things, to submit the relevant business plan, budget, independent valuation of the property related to the Project, documents on creditworthiness and other information and documents at the discretion of the Operator.

The Operator shall review the application at its own discretion and, on the basis of the information submitted by the Project Owner and any other information that the Operator considers relevant, assess the suitability of the Project for the Platform and the credibility and creditworthiness of the applicant (in doing so, the Operator may make inquiries to third parties, any relevant registers and/or use other sources of information).

If the Project Owner fails to provide the information and/or documents requested by the Operator or submits incomplete, incorrect or misleading information, the Operator may refuse to continue carrying out the Reliability Assessment and refuse to publish the Offer of the relevant Project Owner on the Platform.

The Operator shall refuse to publish the Offers of the relevant Project Owner on the Platform also if, after the Reliability Assessment, it is found that the Reliability Assessment does not comply with the requirements set out in the legal regulations and/or internal regulations of the Operator. By refusing to publish the Offer on the Platform, the Project Owner is not entitled to compensation for damages, reimbursement of costs incurred, refund of fees set out in the Price List or to a review of the Operator's decision.


4.2. Contract for Securing Financing and Publication of the Offer

If the Operator finds that the submitted request for publication of the Offer meets the Operator's requirements for the publication of the Offer on the Platform, the Operator shall send to the successful Project Owner an offer of the final conditions for the publication of the relevant Offer on the Platform. Otherwise, the Operator shall notify the relevant Project Owner of the failure to meet the requirements for publishing the Offer on the Platform.

If the Project Owner accepts the conditions for the publication of the Offer, a Financing Agreement is concluded between the Operator and the Project Owner.

The financing contract shall contain in particular the following:  

  1. the main conditions for financing the Project;
  2. the amount of the loan to be financed through the Platform;
  3. the period of financing of the Project (the period of publication of the Offer);
  4. the terms of the Offer for Clients (including the type, if applicable, amount of interest, profit share of the Project and any other relevant payments);
  5. details of Collateral.

In the event of the conclusion of the Financing Agreement, the Project Owner is entitled to publish the Offer on the Platform under the conditions agreed with the Operator. The Operator may assign a risk category to the relevant Offer at its own discretion.

The Project Owner may withdraw the Offer from the Platform or cancel the Project to which the Offer relates only until the Offer is published on the Platform and after payment of the relevant fees specified in the Price List, if applicable. Subsequent withdrawal of the Offer or cancellation of the Project is possible only with the written consent of the Operator, and this may be subject to the fees set out in the Price List.


4.3. Key Information Document for Clients (KIIS)

Together with the Offer, a document with key information for Clients, the so-called KIIS, must be published in relation to each Project on the Platform.

The KIIS must be drawn up at least in the Czech language and contain a maximum of 6 (six) A4 pages. This does not prevent the Project Owner from translating KIIS into other languages as well, provided that the translation accurately reflects the content of the original KIIS.

The KIIS shall be true, comprehensible and not misleading, shall not contain any footnotes other than those referring to the applicable legislation, including, where appropriate, its quotations, and shall contain all the particulars specified in the Model CIIS.

KIIS is prepared by the Project Owner and the completeness, correctness and clarity of the information contained therein is reviewed by the Operator in accordance with its internal regulations. The Project Owner, not the Operator, is responsible for the information provided in the KIIS.

The Project Owner is obliged to inform the Operator of any change in the information specified in the KIIS and to update it continuously during the publication of the Offer. The Operator shall immediately inform Clients who have already invested or expressed an interest in investing in the Offer of any material change in the information in the KIIS notified to it.

In the event that the Operator discovers an omission, error or inaccuracy in the KIIS that could have a significant impact on the expected return on investment, the Operator shall immediately notify the Project Owner of the omission, error or inaccuracy, which is obliged to promptly supplement or correct this information.

If such addition or correction is not made promptly, the Operator shall suspend the Offer until the moment when the KIIS is supplemented or corrected, but no longer than 30 (thirty) calendar days.

The Operator shall immediately inform Clients who have already invested or expressed interest in investing in the Project of any discrepancies, measures and steps taken or to be taken by the Operator and of the possibility of withdrawing their investment offer or expression of interest in the Offer.

If, after 30 (thirty) calendar days, the KIIS has not been supplemented or corrected so that any discrepancies found are corrected, the Offer shall be cancelled.

4.4. The process of disbursement of funds to the Project Owner

The publication of the Offer on the Platform does not constitute a guarantee of the Operator that the required financing of the Project will be achieved, that a Loan Agreement will be concluded with the Project Owner or that the funds obtained through the Platform will be paid to the Project Owner.

Funds collected from Clients for a specific Project will be paid to the account designated by the Project Owner only if the Project Owner duly provides the agreed Collateral and meets all other conditions agreed in the Loan Agreements concluded with individual Clients and in the Financing Security Agreement concluded with the Operator.

If, during the Financing Period, circumstances relating to the Project Owner, persons close to him change and in the opinion of the Operator these changes may have a negative impact on the Reliability Assessment, the implementation of the Project or the credibility of the Project Owner, the Offer may be cancelled by the Operator. The cancellation under the previous sentence does not give rise to the right of the Project Owner to reimbursement of costs incurred or compensation for any damage.


4.5. Failure to reach the Loan Amount in the Financing Period

Each Project has a funding period specified in the published Offer. In the event that the Loan Amount is not withdrawn during the Financing Period, the following can be done:

  1. cancellation of the Project and return of already collected funds to the Clients' Investown wallets;
  2. extension of the Financing Period on the basis of an agreement between the Project Owner and the Operator, even repeatedly, but for a maximum total period of no longer than 3 months;
  3. reduction of the Loan Amount on the basis of an agreement between the Project Owner and the Operator. The other financing conditions specified in the Offer are not affected by this.

Information about the negotiations carried out in accordance with the previous paragraph is published on the Platform and, if necessary, also in the Client Accounts of Clients investing in the relevant Project.


4.6. Prohibition of dealing with Clients outside the Platform

Project owners are prohibited from contacting Clients or other potential financing providers (including credit institutions) in order to obtain funds in the amount of the Loan Amount outside the Platform.

5. Financing of projects and conclusion of a loan agreement

5.1. Requirements for Clients investing in the Project

Only a person who is a Client and who has the funds necessary to make the relevant Investment in the Investown wallet may become a Client investing in the Project.

The Operator is entitled, at its own discretion, not to allow the Client to make an Investment or to set additional conditions for its provision.


5.2. Suitability test and simulation of loss-bearing capacity

Before starting investing on the Platform, each Client must undergo a Suitability Test. Through the Suitability Test, the Operator primarily obtains information about the Client's experience, investment objectives, financial situation, what is his basic understanding of the risks associated with investing in general and investing through credit crowdfunding offered on the Platform and what is the Client's ability to bear losses.

Each Client is obliged to undergo a Suitability Test every 2 (two) years, with the exception of the part relating to the simulation of the Client's ability to bear losses, which the Client must undergo annually.

If the Client refuses to undergo the Suitability Test, does not provide all the required information or the Operator considers, on the basis of the information received, that investing on the Platform may not be suitable for the relevant Client, the Client is informed of this fact and at the same time additional information is provided with additional information about the risks associated with investing on the Platform.

If the Client expresses interest in investing on the Platform even after becoming acquainted with the results of the Suitability and Risks of Investing on the Platform, he expressly confirms that he has received the results of the Suitability Test, understands the risks against which he has been warned by the Operator and that these risks are acceptable to him.  

Before each Investment, the Client will be notified by the Operator of the risks associated with the execution of the Investment and asked to give explicit consent to the execution of the relevant Investment by clicking on the "Invest" field. Without the Client's consent, the Investment will not be made and the relevant funds will not be sent to the Project Owner.


5.3. Credit agreement

In order to provide or obtain a loan to finance the Project, the Users (i.e. Clients and Project Owners) conclude Loan Agreements between themselves through the Platform. The Operator only mediates the conclusion of the Loan Agreement between users, under no circumstances is it a party to such a contract.

The Project Owner concludes a separate Loan Agreement with each Client and the Client may conclude several Loan Agreements for the financing of one Project.

Each Loan Agreement is governed by the General Credit Terms, with which each User is obliged to familiarize himself before starting to use the Platform.

5.4. The process of concluding the Credit Agreement

The Conclusion of the Loan Agreement takes place on the Platform as follows:  

  1. If, on the basis of the Offer, the Client decides to finance a particular Project and to conclude the relevant Loan Agreement, he/she chooses the amount of funds he/she intends to use for the Investment in the Project and then confirms this choice in his/her Client Account, thereby expressing the will to accept the Offer in the stated amount. The amount stated in the Acceptance of the Offer may not exceed the amount of funds available in the Client's Investown wallet.
  2. The Client is entitled to withdraw the Acceptance of the Offer in the same way as he did it, within the period for reflection in the length pursuant to Article 22 par. 3 ECSPR.
  3. After the Acceptance of the Offer in accordance with the terms of the Offer and the expiration of the cooling-off period, the funds in the Client's Investown wallet in the amount specified in the Acceptance of the Offer shall be transferred to a special account until the Project Owner fulfils all the conditions necessary for the payment of the relevant amount to his account, including the establishment of a Security. The Operator may deduct from this amount the relevant fees and costs immediately before its transfer to the relevant bank account of the Project Owner.
  4. If, by the end of the Financing Period, clients do not accept the Offer at least in the amount of the Loan Amount of the relevant Project, the Project Owner has the right to reduce the Amount of the loan or the right to extend the original Financing Period in accordance with Article 4.5, until the end of the Project Financing Period, while the relevant extension does not affect the validity of the Acceptances of the Offer submitted before such extension.
  5. At the moment when the Acceptance of the Offer reaching the Loan Amounts for which the cooling-off period has already expired is submitted on the Platform, a Loan Agreement is concluded between the Project Owner and the Client.
  6. In the event that by the end of the Financing Period of the relevant Project, or by the end of the Financing Period extended in accordance with Article 4.5 point. b) no Acceptance of the Offer reaching at least the Loan Amount is submitted, the Operator shall return the funds transferred to the special account in full back to the Investown wallet of the relevant Client, unless otherwise agreed.  
  7. In the event that, after the conclusion of the Loan Agreement between the Project Owner and the Client, the Provision of Security by the Project Owner does not occur, or another condition for the payment of funds from the Loan Agreement to the Project Owner is not met, the Operator shall return the funds from the Loan Agreement in full back to the Investown wallet of the relevant Client, unless otherwise agreed.

Loan agreements between the Project Owner and the Clients are deemed to have been concluded chronologically in the order of the date of submission of the Acceptance of the Offer and only to the extent reaching the aggregate amount equal to the Maximum Amount of the Loan. In the event that the Acceptance of the Offer made exceeds the Maximum Loan Amount, preference will be given to the Acceptance of the Offers of Clients who have submitted the offer earlier. In the case of Acceptance of the Offer, which was not received due to the preference of others, the Operator shall return the funds transferred to the special account in full back to the Investown wallet of the respective Client, unless otherwise agreed with the Client.

Early repayment of the loan from the Loan Agreement is possible only with the written consent of the Operator.

5.5. Reinsurance

The condition for the payment of the amount from the Loan Agreement to the account of the Project Owner is always the establishment of a Security in favor of the Agent for Reinsurance.

The Collateral Agent exercises the rights of the pledgee or other recipient of the security in its own name for the benefit of Clients who have concluded a Loan Agreement with the relevant Project Owner. For this purpose, each Client fully authorizes the Agent for hedging.

Unless otherwise specified, the performance obtained from the Collateral shall be due to the Clients in proportion to the amount of financing they have provided to the relevant Project Owner under the Loan Agreement.

The Agent for Detention carries out its activities with professional care, in particular it acts competently, honestly and fairly and in the best interests of the Clients. The Agent for Security is entitled to exercise for the benefit of the Clients all rights associated with a lien or other security and to take other actions for the benefit of the Clients or otherwise protect their interests in connection with the lien or other security.


5.6. Authorization of the Operator to negotiate in connection with the conclusion and performance of Credit Agreements

The Client authorizes the Operator to take all negotiations necessary for the conclusion and performance of Credit Agreements, in particular to:

  1. conclusion of Credit Agreements;
  2. representing Clients before courts or other state authorities to the extent necessary for the enforcement of performance under credit agreements.

At the request of the Operator, the Client undertakes to issue a written document (if necessary with an officially verified signature) proving the Operator's authorization to act under the previous paragraph.


Additional information to be provided to investors

6.1. Disclosure of default rates

The Operator regularly publishes the following information on its website at the intervals listed below:

  1. The Operator annually publishes the failure rate of the Projects offered on the Platform for at least the past 3 (three) years;
  2. within 4 (four) months of the end of each financial year, publish a profit and loss account containing the following information, as the case may be:

    I. Expected actual default rate of all loans made possible by the Operator, according to the risk categories set out in the Risk Management Framework;
    II. Summary of the assumptions used to determine the expected default rate; and
    III. if the Operator has offered a target rate in connection with the individual management of loan portfolios, the actual yield achieved.

6.2. Absence of Investment Protection by the Deposit Guarantee Scheme

The Operator points out to clients that the services provided through the Platform are not covered by the deposit guarantee scheme established under Directive 2014/49/EU. However, the Receivables of clients from deposits on an account in a special regime are insured in accordance with § 41a et seq. of the ZoB.


7. Assignment of claims by means of an electronic notice board

The Operator may offer within the Platform a function allowing to advertise interest in the sale and purchase of Receivables and to assign Receivables between Clients through the conclusion of a Contract on the Assignment of Receivables. Assignment of the Receivable to a person other than the Client outside the Platform is prohibited.

The Operator is entitled, at its own discretion, to stop or stop offering the function enabling the assignment of Receivables at any time. The Operator may also selectively limit the use of the Receivables assignment function only to selected Clients at its discretion.


7.1. The process of assigning receivables

The minimum price of the Claim, which can be assigned, is CZK 500. If the total amount of the Claim for assignment does not reach CZK 500, such Receivable may also be assigned, but only if it is assigned in its entirety.

The process of assigning a Receivable on the Platform takes place as follows:  

  1. On the Platform, the Client selects a specific Claim (or part thereof) to be assigned and, if applicable, also indicates the price at which the Claim (or its part) is to be assigned. In relation to the selected Receivable, the Client creates an Offer of Assignment of Receivable through the relevant function on the Platform and publishes it on the Electronic Notice Board, thereby enabling other Clients to see the published Offers of Assignment of Receivable and accept these offers. Publication of the Offer of Assignment of Receivables is considered a binding expression of the Client's will to conclude the Contract on the Assignment of Receivables and to be bound by its offer in the event of its acceptance by another Client. By publishing the Offer of Assignment of Receivables, the Client always agrees that another Client may accept this Offer of Assignment of Receivables even in part, i.e. only in respect of a certain Part of the Claim, if this part corresponds to at least CZK 500.
  2. Together with the publication of the Offer for assignment of receivables, the KIIS of the relevant Project to which the assigned Receivable relates must also be published. The offer of assignment of receivables shall contain at least the following:

    I. the amount of the Assigned Claim;
    II. the price of the assigned Receivable.

  3. The offer of assignment of receivables is effective on the Platform for the period specified on the Platform, during which the offer can be accepted. In the event that none of the Clients accepts the offer during this period, the relevant offer will be automatically deactivated and no further acceptances in relation to the offer can be made. This is without prejudice to the Client's right to republish the Offer of Assignment of Receivables. The offer of assignment of receivables is also automatically deactivated if, after its publication on the Platform, any payments (e.g. interest payments or principal payments) are made to the client offering on the basis of the underlying Credit Agreement. The offer of assignment of receivables may also be cancelled by the offer through the Client's Account until the conclusion of the Contract on the Assignment of Receivables.
  4. The Contract on the Assignment of Receivables shall be concluded with the first Client who accepts the Offer of Assignment of Receivables in accordance with these Terms and Conditions and within the period specified in point (a). c). The successful Client is informed about the conclusion of the Contract on the Assignment of Receivables through his Client Account. In the event that the Client accepts the Offer of Assignment of a Receivable only in respect of a Part of the Claim, the Contract on the Assignment of a Receivable is concluded to the extent of a Part of the Claim, with the fact that the price for the assignment of a Part of the Claim corresponds to a proportional part of the price according to the Offer of Assignment of the Receivable (i.e. if the Client accepts a Part of the Claim in the amount of 50% of the Claim, the price for the assignment of this Part of the Claim corresponds to 50% of the price for the assignment of the entire Claim). Once the Offer of Assignment of Receivable to the full extent of the Claim has been accepted, the Offer of Assignment of Receivable will be automatically deactivated and no further acceptances in relation to this Offer may be made.  Before accepting the Offer of Assignment of Receivables, the Operator shall send the relevant Client information about the risks associated with investing on the Platform. By accepting the Offer of Assignment of Receivables, the Client expressly confirms that he has received a warning about the risks, has understood the risks of which he has been warned by the Operator and that these risks are acceptable to him.

The Client may accept the Offer of Assignment of Receivables only if he has funds available in his Investown wallet at least in the amount in which the price of the assigned Receivable or Part of the Receivable is determined. After the conclusion of the Contract on Assignment of Receivables, the Operator deducts from the Investown wallet of the Client who is the assignor and credits to the Investown wallet of the Client who is the assignee an amount equal to the price of the assigned Receivable or Part of the Receivable. After the assignment of the Receivable or Part of the Receivable, the Operator has the right to deduct the relevant Client the service fee specified in the Price List.

By concluding the Contract on the Assignment of Receivables, the Client enters into the rights and obligations under the Loan Agreement, which is the legal basis for the creation of the assigned Receivable, while the rights and obligations of the respective Project Owner remain unaffected.

Acceptance of the Offer of Assignment of Receivables may be revoked only in accordance with applicable law. The provisions of § 1885 para. 1 OZ shall not apply in the event of assignment of the Claim on the Platform.


7.2. Rights of the Operator

The operator reserves the right at its own discretion:  

  1. not to allow Clients to assign receivables;
  2. determine the price range within which the price of the assigned Claim may be determined:
  3. limit or set a minimum part of the Claim that can be transferred through the Platform (e.g. as a percentage and/or a fixed amount).

Restrictions and their changes set by the Operator in accordance with the previous paragraph will be published on the Platform.


8. Non-performance of contractual arrangements and acts of the Operator

If the Project Owner fails to comply properly and in a timely manner with the obligations arising from the Credit Agreement, these Terms and Conditions or other contractual arrangements referred to in these Terms, the Operator (or a third party authorized by the Project Owner) may, at the expense of the Project Owner, perform on behalf of the Clients or on its own behalf any action or action that the Operator deems necessary or desirable in its sole discretion to achieve the fulfillment of the relevant obligation. For such conduct, the Operator is entitled to remuneration according to the Price List.

Each Client authorizes the Operator to act in accordance with the previous paragraph by registering on the Platform, while the Client acknowledges that the Operator is entitled to use third parties for such actions and actions.

The Operator need not act or take the steps referred to in this Article if, in the Operator's opinion, the recovery of receivables due as a result of such actions and actions is unlikely or the benefit that could be obtained as a result of the relevant actions and actions is lower or to a similar extent to the expected costs of the relevant negotiations and actions.

Funds obtained from the monetization of pledged real estate, other Collateral or other property of the Project Owner are intended to satisfy the receivables of the Clients, after deduction of costs and fees incurred by the Operator and other persons acting for the benefit of the Clients, if such persons have been used. The amount of the relevant costs and fees is stated in the Price List.



9. Statements and Obligations of the User

9.1. User Declaration

The User hereby declares, warrants and assures the Operator that the following statements are true, complete and not misleading:

  1. The User, who is a natural person, is fully competent, especially with regard to his age, or is represented by a legal representative;
  2. all data provided by the User to the Operator are true, complete and not misleading;
  3. Before starting to use the Platform, the Client has thoroughly familiarized himself with these Terms and Conditions, fully understands these Terms and Agrees with them;
  4. Before starting to use the Platform, the Client has thoroughly familiarized himself with the General Credit Terms, fully understands these General Credit Terms and agrees with them;
  5. The Client has thoroughly familiarized himself with the Privacy Policy before starting to use the Platform;
  6. The client is not a provider of consumer loans and does not provide other loans as an entrepreneur;
  7. The Client intends to use the Platform through no more than one Client Account;
  8. when using the Platform, including entering into Credit Agreements, the Client understands the risks associated with the use of the Platform (including the possibility that he may lose the full amount of his Investment or not achieve the expected return when fulfilling the risks associated with the use of the Platform) and acts only on his own responsibility;
  9. The User is aware that the performance of the Credit Agreement and other contractual arrangements referred to in these Terms and Conditions, including any communication between Users or between Users and the Operator regarding the conclusion or other conduct related to such contractual arrangements, may only take place in accordance with the procedure set out in these Terms and Conditions and/or in the aforementioned contractual arrangements, through the Platform, except in cases where the Operator has given prior consent to other conduct in writing;
  10. The Client acknowledges that the enforcement of any financial obligation arising from the Credit Agreement, these Terms and Conditions or the contractual arrangements referred to in these Terms and Conditions may only take place in accordance with the procedure set out in Article 8 through the Operator and/or persons authorized by the Operator; The Client does not have the right to take such steps or measures independently, except in the case where the Operator has given prior consent to such action in writing; and
  11. The Client is aware that the Services provided through the Platform are not covered by the Deposit Guarantee Scheme established under Directive 2014/49/EU.


9.2. Obligations of the Client

When using the Platform, the Client is obliged to comply with the relevant legal regulations, these Terms and Conditions and always respect the rights and legitimate interests of the Operator and third parties.

The client is also obliged in particular to:

  1. when investing on the Platform, to assess the suitability and risk of the investment in question and, if necessary, to use the assistance of professional advisors, despite the execution and receipt of the results of the Suitability Test;
  2. when registering on the Platform and using it and when communicating with other Users or the Operator, provide only true, correct and non-misleading information and documents;
  3. immediately inform through the Platform about changes in the data provided by the Client as part of registration on the Platform or when using the Services;
  4. store the data and documents necessary for logging into the Platform in such a way that no third party can access them;
  5. inform the Operator immediately in the event that a third party gains access to the data referred to in the previous point, even in the case of mere suspicion;
  6. refrain from promoting or advertising other platforms or funding sources of a similar nature to the Platform in the Platform environment;
  7. pay all costs, fees and/or taxes associated with the use of the Platform and Services;
  8. when using the Platform, not to use technical devices, applications or other solutions (including computer programs) whose purpose or function is the automated use, reading, collection, recording or other processing of the content of the Platform or the data recorded therein; and
  9. by their actions or omissions to any extent do not harm or endanger the Operator or other Users.

9.3. Prohibited Acts Relating to the Platform

In particular, the client may not:

  1. use the Platform in violation of these Terms;
  2. use the Platform in a manner that would result in a violation of legal regulations, generally accepted procedures and guidelines or other rules, judicial and other decisions or arrangements entered into by it;
  3. attempt to gain unauthorized access to the names and/or passwords of other Clients and/or in any way use the Client accounts, names and/or passwords of other Clients;
  4. use the Platform for any commercial purposes, except for the purpose of financing the relevant Project of the Project Owner;
  5. reproduce, transfer, rent, lend, exhibit, publish, modify, create derivative works or in any way extract content available through the Platform without the prior written consent of the Operator;
  6. to meet its financial obligations in the form of set-off or to make deductions or deductions from the amounts due by it without the operator's consent granted in writing.

9.4. Breach of contractual provisions by the User and the rights of the Operator

If the Operator suspects that the User does not comply with obligations or violates the prohibitions or statements specified in these Terms and Conditions, the Operator is entitled to take the following steps, among other things, in order to protect its interests, the interests of other Users or third parties:  

  1. limit the User's rights and/or the scope of the Services and functions available to the User (for example, among other things, to prevent Investments or borrowing);
  2. block or cancel the Client's account;
  3. refuse to publish the Offer on the Platform or cancel or suspend the financing of the published Project;
  4. prohibit the Client from concluding Credit Agreements or Agreements on the Assignment of Receivables;
  5. inform the relevant state authorities about the actions of the Users;
  6. terminate any contractual relationship with the User;
  7. withhold any funds of the Client in his Investown wallet, or
  8. to recover damage caused by the User.

The Operator may further proceed to limit the Rights of the Client and/or the scope of the Services and functions available to the Client or to block the Client's Account in particular in the following cases:

  1. The Operator suspects unauthorized access to the Client's account;
  2. The Operator suspects that changes to the Client's Account are made by a person different from the Client;
  3. The Operator has doubts about the correctness of the Client's personal data;
  4. transactions are carried out in unusual quantities or volumes;
  5. The operator suspects a risk of injury;
  6. The Client seriously or repeatedly breaches its obligations under these Terms; or
  7. for other reasons set forth in these Terms.

The Operator shall always inform the relevant Client about the temporary blocking of the Client Account in accordance with the procedure described in Article 11, including information on the conditions for its re-opening and the possibility to object to the Operator's procedure. Objections can be raised via the Operator's Contact E-mail. The Operator undertakes to inform the Client about the method of resolving objections, or about the extension of the period for their resolution, within 7 (seven) days from the date of delivery of objections.


9.5. Prohibition of further use

A Client whose Client account has been blocked or cancelled is not entitled to continue using the Services or otherwise accessing the Platform, even under a different Client Account.



10. Exclusion of Warranties and Limitation of Liability for Damage


10.1. Exclusion of Warranties

The Operator does not provide users with any guarantees regarding the Platform and/or Services. It is not guaranteed in particular, but not exclusively, that:

  1. the information provided by Users or third parties is complete, accurate, true and up-to-date;
  2. The Services and all functions will be available continuously, will be fully functional, responsive, error-free and secure, with the fact that Users are primarily aware that the Operator is entitled to make downtime of the Platform, including all Services and functions related to it;
  3. the use of the Platform and/or the Services or any functions of the Platform will be appropriate for the respective User;
  4. The User or third parties shall not lose part or all of their Investment or achieve less than anticipated returns.

10.2. Limitation of Liability for Damage

To the maximum extent permitted by law, the Operator excludes its liability for any damage or damage incurred by the User in connection with the use of the Platform and/or related Services and functions.

Among other things, the operator is not responsible for:

  1. the validity or correctness of the information and/or confirmations published or provided by the User on the Platform or in any document; the above limitation of liability also applies, inter alia, to all data and other information published on the Platform in relation to the Projects and Users, as well as to information published by the Operator in the event that the Operator has not published misleading or inaccurate information intentionally, or has not failed to provide information in the KIIS intentionally;
  2. any disturbances or impediments which may arise in the activities of credit institutions, including any losses which may arise, directly or indirectly, as a result of the insolvency or moratorium of such credit institution or any other similar event;
  3. losses incurred as a result of any action or non-action of third parties whose economic or professional activities include the recovery of claims and the provision of related services;
  4. the legal binding nature, scope, content, suitability and enforceability of contracts and other legal documents used on the Platform, including those used to carry out transactions through the Platform;
  5. errors or malfunctions that occur on the Platform, changes made to the Platform or consequences of the termination of the operation of the Platform;
  6. the validity and accuracy of any forecasts, including financial indicators of any Project, published on the Platform;
  7. non-material damage, lost profits or other damage caused as a result of the Operator's non-intentional conduct.

Furthermore, the Operator is not liable to the User for any damage or damage caused by:

  1. misuse of any information provided by the User through or in connection with the Platform by other Users and/or third parties and/or unauthorized handling of such information by other Users and/or third parties;
  2. default, non-performance of obligations (e.g. obligations under credit agreements) of another User or a third party and/or unlawful conduct of Users or third parties;
  3. malfunction, unavailability or poor availability or functionality or speed of the Platform or any related Services or services provided by third parties;
  4. loss of the User's data;
  5. unauthorized access to the User's data;
  6. by closing the Client's account or terminating the contractual relationship between the Operator and the Client;
  7. termination of the operation of the Platform and related Services; or
  8. force majeure within the meaning of the relevant legislation.



11. Communication

The Client agrees that all notices related to the use of the Platform relating to this Client may be delivered through the Platform, by providing information in the Client's account, and/or sent by e-mail, including notices with legal consequences.

The Operator may, at its sole discretion, send notifications to the Client in a manner other than in the ways specified in the previous paragraph, provided that it uses the contact details provided for this purpose by the Client when registering on the Platform or recorded by the Client on the Platform during its use.

Notices delivered through the Client's account, and/or sent by e-mail to the e-mail address made available by the Client to the Operator, are deemed to have been delivered and confirmed by the Client to whom they are addressed, 24 (twenty-four) hours have elapsed since the relevant notification was sent. In the case of using other means of communication, including courier services or registered mail, notices are deemed to have been delivered 3 (three) business days after they are sent.

Clients are obliged to immediately notify the Operator of any change in contact details and update these data in their Client Account. In the event of a breach of this notification obligation, the Operator is not liable for any damage or damage incurred in connection with the failure to receive the relevant information.

The Operator's communication with the Project Owner takes place on the basis of the contact details specified in the Financing Agreement.



12. Amendment of the Terms and Conditions and Credit Agreements


12.1. Changes to the Terms

The Operator reserves the right to unilaterally change or supplement the wording of the Terms and Conditions at any time. Clients will be informed of any change to the Terms and Conditions via the Platform or in another appropriate manner so that they can become acquainted with the current wording of the Terms without undue difficulty, at least 2 (two) weeks before their entry into force. The Terms become effective at the moment of their publication on the Platform.  

If the Client does not agree with the changes to the Terms and Conditions, he is entitled to reject the changes and terminate the Agreement on the Use of the Platform for this reason by submitting a notice of termination of the Client's account via e-mail or through a communication service (chat) available on the Platform. In such a case, the client's account will be cancelled on the date of settlement of rights and obligations.

The Project Owners will be informed of any change to the Terms and Conditions on the basis of the contact details specified in the Financing Agreement. The procedure under this Article shall apply mutatis mutandis to Project Owners.

12.2. Amendment of Credit Agreements

If the Clients and/or Project Owners wish to change an already concluded Loan Agreement, negotiations on changes are conducted by the Operator, who acts as a representative of the Client and in his interest. The Operator, as a representative of the Clients, may amend the Loan Agreement on their behalf, thereby:

  1. extend any repayment term by up to 6 (six) months;
  2. extend, in whole or in part, any repayment term for a portion of the principal of the loan by more than 6 (six) but not more than 24 (twenty-four) months, provided that at the same time the interest rate on the relevant loan increases by at least 3 (three) percent per annum;
  3. extend in whole or in part any payment period of principal and/or interest until the date of repayment of receivables under the Loan Agreement relating to the last (i.e. the latest) Project of the Project Owner in the event that the Project Owner has more Than one Project;
  4. increase the interest rate and/or interest on late payments;
  5. change the repayment schedule or interest payment schedule;
  6. reduce the rate of interest and/or interest for late payment or waive interest and/or interest on late payment;
  7. provide additional time to remedy and/or remedy the breach of non-pecuniary obligations;
  8. extend the deadline for the establishment of the relevant Collateral (a) by up to 10 (ten) working days; or (b) over 10 (ten) business days, but not more than 3 (three) months, provided that the payment of interest on the Loan Agreements for the last extended period has been secured for clients;
  9. agree to the exchange or replenishment of property that is the subject of the Collateral or to the provision of additional Collateral, unless in the opinion of the Operator this materially harms the interests of the Client; or
  10. make other changes and give instructions to the Project Owner on the method of continuous performance of the Credit Agreement and related documents or grant consents to deviations from the terms of these documents, if the relevant changes, instructions or deviations are of a technical nature, carried out for the purpose of correcting errors or if, in the opinion of the Operator, this does not materially harm the Interests of the Client or is, in the opinion of the Operator, necessary to prevent or reduce possible financial risk and/or damage for the Client.



13. Transfer of rights and obligations

The User may not assign or otherwise transfer the rights and obligations arising from the Credit Agreements and these Terms and Conditions to a third party without the Consent of the Operator.

The Operator's consent is not necessary in the case of assignment of the Client's receivables to another Client in accordance with Article 7.



14. Duration and termination of the Operator's contractual relationship with the User

14.1. Termination by the User

The contractual relationship between the User and the Operator may be terminated by the User provided that:

  1. the relevant User is not a party to any Credit Agreement;
  2. is not the Owner of a Project published on the Platform;
  3. has no monetary claims against other Users in connection with the use of the Platform; and
  4. fulfilled all financial obligations incurred towards the Operator and other Users in connection with the use of the Platform.

The Agreement on the Use of the Platform concluded with the Client may be terminated in one of the following ways:

  1. withdrawal of the Client from the Agreement on the Use of the Platform without giving a reason within 14 (fourteen) days of its conclusion using the form available on the Platform; The Client expressly requests that the Operator commence the provision of Services before the expiry of the withdrawal period, therefore the Operator has the right to payment of fees for services provided by the Client before such withdrawal; withdrawal is effective at the moment of delivery to the Operator; or
  2. by the Client's notice even without giving a reason for the use of the form available on the Platform; the notice period is 14 (fourteen) days.

From the moment of delivery of the withdrawal or notice of termination, the Client will not be allowed to conclude new Loan Agreements. The Operator shall then transfer the positive balance of funds in the Investown wallet of the relevant Client to the current account of that Client, from which the Client has transferred the funds to the Operator within 20 (twenty) working days of receipt of the withdrawal or termination of the Contract and the Client Account of the relevant Client shall be cancelled.

The contract for securing financing with the Project Owner may be terminated in the manner specified in such contract.


14.2. Termination by the Operator

The Operator is entitled to terminate the contractual relationship with the User by notice in the following cases:

  1. for a serious breach of the Client's obligations, for which the Operator has blocked the Client's account in accordance with Article 9.4 of the Terms and Conditions and the Client has not fulfilled the conditions for its release for a period of 1 (one) month or has not raised objections against the blocking or its objections have been rejected by the Operator; the notice period is 14 (fourteen) days;
  2. for the termination of the provision of Services by the Operator; the notice period is 14 (fourteen) days.

After the termination of the contractual relationship by the Operator, the Credit Agreements concluded by the Client shall remain in force and their parties shall enforce them as if they had been concluded without the operator's participation.



15. Termination of the Operator's activities

Termination of the Operator's activities does not affect the validity of already concluded Credit Agreements and related documents (unless otherwise stated in the Credit Agreement).

In the event of a declaration of bankruptcy of the Operator or upon termination of the Operator's activities for any other reason:

  1. The funding period of each active Offer expires prematurely;
  2. The Operator transfers the positive balance of funds in the Client's Investown wallet to the Client's current account from which the Client has transferred funds to the Operator;
  3. The Operator shall inform Clients who are parties to credit agreements about further progress regarding matters related to the further performance of Credit Agreements and related documents, if the proper performance of the relevant Credit Agreements and related documents is not possible without the assistance of the Operator.

Further procedure according to the previous paragraph point. (c) may include, inter alia, instructions given to the parties to the credit agreement:

  1. to make payments to be made under credit agreements and related documents directly to the party entitled to receive such payment;
  2. to deliver notifications relating to credit agreements and related documents to the other party by means other than those described in Article 11;
  3. continue to perform credit agreements and related documents in the manner, procedure and to the extent that a third party authorized by the Operator performs the role and functions previously performed by the Operator; or
  4. other relevant instructions intended to facilitate the performance of credit agreements and related documents in circumstances where the Operator has ceased its activities or has been declared bankrupt.

For the purposes described in the previous paragraph, the Operator may provide the parties to the Credit Agreements and related documents and/or the third party referred to in point (a). (c) all relevant information on the other party or parties to the Credit Agreements and related documents, including their contact and current account details and other information related to the Credit Agreements and related documents.


15.1. Change of Platform Operator

The User acknowledges that the Operator is entitled to transfer the management of the Platform to another operator who is authorized to do so in accordance with ECSPR. In such a case, the new Operator assumes all rights and obligations of the Operator arising from these Terms and Conditions and from other contractual arrangements concluded between the User and the Operator. The Operator shall inform the User in advance of such a transfer of the Platform administration by notifying the User on the Platform. All rights and obligations of the User arising from these Terms and Conditions and/or other contractual arrangements concluded with the Operator remain unaffected by the transfer of the Platform administration.



16. Fees

By acceding to these Terms and Conditions, the User confirms that he has become acquainted with information about the fees and rates applicable to the Services provided by the Operator and about the method of their payment and undertakes to pay all relevant fees in accordance with the procedure and in accordance with the specified conditions.

The Project Owner undertakes to pay all costs associated with the conclusion and implementation of the Loan Agreement and related documents, including costs intended for the payment of third-party services (e.g. valuation of assets or approval and registration of hedging transactions).

Users undertake to pay themselves any taxes or other fees that apply to them in connection with their activities on the Platform, in particular in connection with the conclusion of Credit Agreements.


16.1. Project Owner Fees

Unless otherwise stipulated in the Financing Agreement, the Project Owner undertakes to pay or pay the following fees and costs to the Operator:

  1. a fee for publishing the Offer on the Platform;
  2. administrative fee;
  3. fee for the recovery of receivables(s);
  4. all costs associated with the conclusion of credit and security agreements (including registration of a lien);
  5. other fees agreed in the contract with the Operator.

The amount of individual fees is listed in a separate Price List, which is accessible on the www.investown.cz/poplatky.

Unless otherwise stated in this Article or in the Financing Collateral Agreement, the fee for publishing the Offer on the Platform as well as the costs associated with the conclusion of credit and pledge agreements (including registration of the lien) shall be paid to the Operator from the amount of the Collected Funds immediately before their transfer to the project Owner's account. Other fees (with the exception of the administrative fee) are paid to the Operator as specified in the Financing Assurance Agreement.

Unless otherwise specified in these Terms and Conditions or in the Financing Security Agreement, the administrative fee accrues and is payable for each day until the principal set out in the Loan Agreement and any accrued Interest on the principal are repaid, in full to the Client, and until the Project Owner has fulfilled all other financial obligations arising from the Credit Agreement and related documents, which relate to the Loan. Unless otherwise stated in the Financing Security Agreement, the amount of the administrative fee payable to the Operator is 5% p.a. of the Loan Amount (even if the loan is repaid early).

Unless otherwise specified in these Terms and Conditions or in the Financing Assurance Agreement, the administration fee must be paid as follows:

  1. if, under the Loan Agreement, the Loan is payable in instalments according to the repayment schedule, the administrative fee calculated for the entire credit period is divided into regular installments so that on the due date of each instalment of the Principal of the Loan, the Project Owner must pay the Operator the same instalment of the administrative fee;
  2. if, under the Loan Agreement, the Loan is payable in full at the end of the credit period, but the Interest is payable by regular installments according to the repayment schedule, the administrative fee calculated for the entire credit period is divided into regular installments so that the Project Owner must pay the operator the same installment of the administrative fee on the due date of each relevant Interest instalment;
  3. if, after the expiry of the loan period, the principal of the relevant Loan Agreement has not been repaid to the Client or the Interest accrued from the principal has not been paid in full or the Project Owner has not fulfilled other financial obligations related to the relevant Loan, the administrative fee calculated for each day after the expiry of the relevant loan period must be paid immediately at the first request of the Operator.

The amount of each instalment of the administrative fee referred to in point (a) and (b) of the administrative fee. (a) and (b) is indicated in the relevant column of the repayment or interest schedule relating to the relevant Credit Agreement.

In the case of early repayment of the Loan, the remaining amount of the administrative fee must be paid in full at the same time as the early repayment of the Loan (and if the relevant repayment date does not fall on the last day of the calendar month, the administrative fee is calculated and must be paid at least in the amount that should have been paid if the relevant Loan had been repaid on the last day of this calendar month (but in no case in a higher amount, than what would have been due if the Loan had been repaid on the original due date)). The administrative fee becomes payable in full in the event of extraordinary withdrawal from the Loan Agreement.

The fees set out in the previous paragraphs of these Terms and Conditions must be paid only if, during the Financing Period, the amount of loans provided by Clients under the Acceptance of Offers for the purpose of financing the relevant Project reaches at least the Loan Amount specified in the relevant Offer.

The fee for publishing the Offer on the Platform must also be paid in the event that the Credit Agreement is terminated due to the fact that the Project Owner has not provided Security in accordance with the procedure and to the extent specified in the Loan Agreement or the Financing Security Agreement or if it has otherwise caused the cancellation or termination of the Credit Agreement, its non-conclusion or other defect, as a result of which the Client would not be able to perform on the basis of a potentially concluded Credit Agreement. In this case, the Project Owner is obliged to pay the fee for publishing the Offer on the Platform within five (5) working days after the termination or extraordinary cancellation of the Credit Agreement and is also obliged to reimburse the Operator within five (5) working days of the Operator's call for all costs, fees and losses incurred by the Operator in connection with the conclusion, performance or enforcement of the Loan Agreement and related documents related to the financing of the relevant Project.

The Operator may set off the fees, costs and/or losses to be paid or compensated by the Operator against the funds specified in the account of the respective Project Owner.

None of these charges include value added tax (VAT), and if the applicable charge is taxed by law on value added tax (VAT) or other similar tax, the applicable tax will be added to the applicable charge.

The Project Owner is obliged to pay the fees in full in Czech crowns, while the obligation to pay the relevant fee may not be fulfilled by the Project Owner in the form of a credit or make deductions or other deductions from the amount to be paid without the Consent of the Operator in writing.


16.2. Client's fees

The Client undertakes to pay the Operator the fees, the amount of which is specified in the valid Price List.

If the Price List is published on the Platform in connection with certain actions to be performed by the Operator and the services to be provided by the Operator, the Client is obliged to pay the fee specified in the Price List at the first request of the Operator in addition to other fees specified in these Terms and Conditions.

The Operator may, at its sole discretion, unilaterally waive the fees to be paid to the Operator on the basis of these Terms and Conditions or the Financing Assurance Agreement and related documents, or unilaterally reduce the amount of the relevant fees.



17. Intellectual Property Rights

17.1. Copyright to the Platform

The Platform is an author's work within the meaning of Act No. 121/2000 Coll., the Copyright Act, as amended. The Owner of the Platform and the executor of all property rights relating to the Platform is the Operator. The content of the Platform may not be stored, modified, disseminated or other property rights exercised to it, unless the Operator has given prior consent to such conduct or it is in accordance with the Terms and Conditions.



18. Final provisions


These Terms become effective on the date stated on the front page above.

All legal relationships arising on the basis of or in connection with the Platform are governed by the laws of the Czech Republic, regardless of where the access and use of the Platform was made from.

The resolution of any disputes between the User and the Operator arising in connection with the use of the Platform and related Services and functions by the User shall be resolved by the competent court of the Czech Republic.

If any provision of the Terms is or becomes invalid or ineffective, such invalid provisions shall be replaced by a provision the meaning of which is as close as possible to the invalid provision. The invalidity or ineffectiveness of a provision shall not affect the validity and effectiveness of the other provisions.

In the case of publication of multiple language versions of these Terms and Conditions or other documents on the Platform, the Czech version shall always prevail.

If the User has a complaint regarding the Platform or any Services provided by the Operator, he/she may address his/her complaint to the Operator via the Operator's Contact E-mail. Upon receipt of the complaint, the User shall be informed, no later than 10 (ten) days after receipt of the complaint, that the complaint has been accepted. The Operator shall process the complaint within 15 (fifteen) days from the date of delivery of the complaint, or its completion so that it contains all the necessary information. If it is not possible to respond within this period due to obstacles independent of the Operator's will, the User is notified within fifteen (15) working days of receipt. The Operator shall then reply no later than thirty-five (35) business days after the date of receipt or completion of the complaint.

If the Agreement on the Use of the Platform is concluded with a Client who is a consumer within the meaning of Section 419 of the Civil Code, the Instruction on consumer rights is attached to these Terms and Conditions. By acceding to these Terms and Conditions, the Client in the position of a consumer confirms that he has been informed of his rights by the Operator.



19. Definitions

For the purposes of these Terms and other agreements to which these Terms refer, as well as other information published through the Platform, the terms used in these Terms have the following meanings:

"Agent for Reinsurance" means Investown Technologies s.r.o., with its registered office at Inovační 122, Hodkovice, 252 41 Zlatníky-Hodkovice, Company ID: 086 67 144, registered in the Commercial Register maintained by the Municipal Court in Prague, Section C, Insert 322874.

"Acceptance of the Offer" means the expression of the Client's will to accept the Offer, or to provide a loan for the financing of the selected Project in the amount specified by the Client and under the conditions set out in the Offer.

"Price List" means the price list of fees and refunds paid by the User to the Operator published on the Platform.

"Part of the Claim" means the portion of the Claim offered under the Assignment Offer.

"Loan Amount" means the minimum aggregate amount of loans that need to be obtained from Clients to finance the Project through the Platform in order to conclude Loan Agreements and provide a loan to the Project Owner.

"ECSPR" means Regulation (EU) 2020/1503 of the European Parliament and of the Council of 7 October 2020 on European crowdfunding service providers for businesses and amending Regulation (EU) 2017/1129 and Directive (EU) 2019/1937.

"EEA" means the European Economic Area.

"Electronic Noticeboard" means a part of the Platform within which the Client may offer and purchase Investments from other Clients according to specified parameters for a predetermined fee for a successful sale according to the Price List;

"Website" means the website available at: investown.cz.

"Investment" means the amount already invested by the Client in the Project.

"Investown wallet" means a register that informs the Client about the balance of funds.

'KIIS' means the key investment information sheet as defined in Articles 23 and 24 of the ECSPR.

"Client" means a User using the Platform for the purpose of investing in projects of Project Owners.

"Client Account" means the Client's user account created on the Platform on the basis of the Client's registration.

"Operator's contact e-mail" means support@investown.cz.

"Maximum Loan Amount" means the maximum aggregate amount of loans that Clients can provide to finance the Project through the Platform, if any.

"Offer of Assignment of Receivable" means a proposal to conclude a contract on the assignment of receivables between Clients within the meaning of Section 1780 of the CcCC, which contains, in particular, the identification of the Claim (or its part) to be assigned and the price at which the Claim (or its part) is to be assigned.

"Offer" means an offer to conclude a Credit Agreement published on the Platform in accordance with the terms and conditions agreed in advance and approved by the Operator. The offer contains basic information about the Project and the main terms of the Loan Agreement.

"Financing Period" means the period during which the Loan Amount to finance the Project is to be collected.

"General Credit Terms" means the General Credit Terms of the Investown Platform, which govern each Loan Agreement and which are available on the Platform.

"Privacy Policy " means the Privacy Policy, which is available on the Website at the following link: https://www.investown.cz/zasady-ochrany-osobnich-udaju.

"OZ" means Act No. 89/2012 Coll., the Civil Code, as amended.

"Platform" means the Investown web and mobile application operated by the Operator, which offers Clients the opportunity to invest in individual Projects by providing financing to project owners in the form of a loan secured by real estate or other Collateral based on their registration and the creation of a Client Account, as well as views on the status of their Investments and Investown wallet.

"Terms" means these General Terms and Conditions of the Investown Crowdfunding Platform, as amended from time to time.

"Receivable" means the Client's claim against the Project Owner under the Loan Agreement, which the Client is interested in assigning to another Client through the Platform and in accordance with these Terms and Conditions.

"Reliability Assessment" means an assessment of the reputation and creditworthiness of a Project Owner applying for funding for its Project through the Platform and the suitability of its Project for the Platform according to the Operator's requirements and procedures set forth for the publication of the Offer on the Platform.

"Project" means a project of the Project Owner in which the Client may invest by providing the Project Owner with a loan under the Loan Agreement.

"Operator" means Investown Technologies s.r.o., with its registered office at Inovační 122, Hodkovice, 252 41 Zlatníky-Hodkovice, Company ID: 086 67 144, registered in the Commercial Register maintained by the Municipal Court in Prague, Section C, Insert 322874.

"Services" means all services provided by the Operator through the Platform to Users, including in particular crowdfunding services, i.e. matching the interests of Clients in investing in Projects and the interests of Project Owners in obtaining financing for Projects through Credit Agreements.

"Contract on Assignment of Receivables" means a contract concluded through the Platform between Clients on the basis of which the Assignment of the Receivable (or part thereof) takes place between Clients.

"Loan Agreement" means an agreement concluded through the Platform between the Client and the Project Owner, on the basis of which the Client provides funds in the form of a loan for a Project implemented by the Project Owner.

"Agreement on the Use of the Platform" means the agreement on the use of the Platform, which governs the contractual relationship between the Client and the Operator and the content of which consists of the Terms.

"Financing Assurance Agreement" means the contract concluded between the Operator and the Project Owner regulating the conditions for obtaining loans from Clients to finance the Project through the Platform.

"Repayment Schedule" means the schedule provided on the Platform according to which the Project Owner must repay the Loan, pay Interest and other payments under the Loan Agreement.

"Suitability Test" means the test that each Client must undergo before commencing lending on the Platform in order to assess whether and which Offerings are suitable for the Client; During the Suitability Test, the Operator primarily determines the Client's experience, investment objectives, financial situation, basic understanding of the risks associated with investing in general and investing through credit crowdfunding, and what is the Client's ability to bear losses, while on the basis of the information found, the Operator assesses the suitability of investing through the Platform for the Client.

"Interest" means the remuneration for the Credit provided, which consists of a fixed interest and a bonus at the end (if applicable).

"Loan" means the amount provided as a loan to the Project Owner, which the Project Owner is obliged to return in accordance with the Loan Agreement.

"User" means the Client and the Project Owner.

"Project Owner" means a person who offers his Project for financing through the Platform as agreed with the Operator;

"Funds Raised" means funds provided to the Project Owner by Clients to finance its Project through the Platform in accordance with these Terms and Conditions.

"Model KIIS" means the sample key investment information sheet (KIIS) available on the Platform.

"Collateral" means security in the form of a lien, guarantee, financial guarantee or other form securing the debts of the Project Owner towards clients.

"ZoB" means Act No. 21/1992 Coll., on Banks, as amended.

"ZPKT" means Act No. 256/2004 Coll., on Capital Market Undertakings, as amended.

"ZPS" means Act No. 370/2017 Coll., on Payment Systems, as amended.