1. Application of Terms & Conditions

1.1. These terms and conditions are for the website  www.arbcap.com  (hereinafter the “Terms and Conditions”) and regulate the legal relations between the registered users (hereinafter the “User”) of the website www.arbcap.com 

1.2. By registering a user account with the Portal, the User agrees with the Terms and Conditions and thereby an agreement under these Terms and Conditions is concluded between the User who registers a user account and the Portal Operator. Upon registering an Investment Account in the Portal as defined in Article 4.1, the person to whose name the Investment Account defined in article 4.1 is registered (hereinafter the “Investment Account User”, whereas for the purposes of these Terms and Conditions an User is also a User, unless provided differently in these Terms and Conditions), agrees with the Terms and Conditions and thereby an agreement under these Terms and Conditions is concluded between the User and the Portal Operator.

1.3. The Portal Operator reserves the right to amend or supplement the Terms and Conditions or lay down additional conditions. These amendments and supplementations shall enter into force from the moment when the User has agreed to the new Terms and Conditions via the Portal.

1.4. With commencing the use of the Portal, the User confirms that they have read the Terms and Conditions, understood them and agrees to perform and follow them.

2. Services and Prices

2.1. The Portal Operator shall enable the registered Users of the Portal to use the Portal for its intended purpose, first and foremost enter and/or become acquainted with real estate co-sharing purchases, make declarations of intent, conclude transactions. The Portal Operator has the sole right to change the Portal functionality and Terms and Conditions without advance notice, including limiting or adding functionality to the Portal.

2.2. Any and all expenses and fees related to the use of the Portal shall be paid by the User according to the Portal’s price list and the Portal Operator shall automatically debit (without an additional authorisation from the User) the expenses and fees from the User’s Investment Account (as defined in Article 4), for the transaction made in relation to which the Portal Operator has the right to request reimbursement of expenses or payment of a fee.

3. User account

3.1. In order to use the Portal a person is required to register a user account in his name (hereinafter the “User Account”). Only private persons who have passed the Portal Operator’s background check to the extent that the Portal Operator deems necessary can register a User Account to their name. A person applying for registration of a User Account is required to submit to the Portal Operator any and all information that the Portal Operator requests. The Portal Operator has the unilateral right to refuse to open a User Account.

3.2. Upon registering a User Account, a person enters their contact information and other data required by the Portal Operator into the respective environment and selects a unique username and password.

.3. The Portal Operator shall have the right to limit the rights of certain groups of Users (e.g. of persons who give loans via the Portal) in terms of specific usage rights, including limiting access and/or usage rights with respect to certain parts of the Portal.

3.4. In order to enter the Portal, a User is required to enter their username and password. In order to use the Portal, the Portal Operator may unilaterally request the User to identify him/herself via ID card, Mobile-ID, bank link or any other identification method acceptable to the Portal Operator. In order to submit declarations of intent and give approvals that bear legal consequences, the Portal Operator may request the verification of the User’s signature via ID card, Mobile-ID, bank link or mobile communication or any other authentication method.  

4. Investment Account

4.1. After registering a User Account, a User has to apply and verify (as a part of the User Account) an individual virtual account for performing transactions via the Portal by the User or the legal entity represented by the User, and for keeping track of financial obligations and claims, which have arisen on the basis of the Terms and Conditions and/or as a result of transactions made via the Portal (hereinafter the “Investment Account”).

4.2. In order to verify their Investment Account, the User has to submit their contact information, bank account number and other data of the potential User referred to by the Portal Operator into the respective environment of the Portal. The Investment Account registration application will be registered under the User’s own name as a private person or on behalf of a legal entity based on the registration of their User Account. In case the representative of a legal entity applies for the opening of an Investment Account on behalf of a legal entity, an agreement under the Terms and Conditions is concluded between the legal entity and the Portal Operator with the registration of the Investment Account and the legal entity shall be obliged to follow the Terms and Conditions.

4.3. The Portal Operator may carry out background checks of an User to the extent that the Portal Operator deems necessary. The User is required to submit to the Portal Operator any and all information that the Portal Operator requests. The Portal Operator shall have the right to unilaterally refuse to open an Investment Account.

4.4. The person to whose name the Investment Account has been registered (Investment Account User) shall be responsible for the rights and obligations related to the Investment Account. The User shall be a party to the transactions made via the Investment Account. Terms and conditions of a respective transaction shall apply to transactions made via the Portal, which shall be accepted separately by the User.

4.5. The Investment Account shall reflect, in the currency determined by the User, the sum of funds transferred by the User to the Portal Operator for the purposes of performing transactions via the Portal and the funds received from other Users as a result of transactions concluded by the User via the Portal, from which sums payable to other Users as a result of transactions made by the User via the Portal and sums subject to payment or compensation according to the Terms and Conditions to the Portal Operator, shall be deducted.

4.6. The User can make declarations of intent via the Portal, including making offers to execute transactions via the Portal and conclude transactions only if the Investment Account has a non-booked positive balance in the amount necessary for the transaction (i.e. a sum that is sufficient for perform the obligations of the User related to the respective transaction to the other party of the transaction and the Portal Operator) at the time of making the offer and concluding a transaction.

4.7. The User may transfer funds to the Portal Operator only from a bank account registered to the name of the User in a licensed credit or payment institution, which is registered or operating in a state where money laundering and terrorist financing prevention measures are applied (the Portal Operator shall have the right to request documents, which confirm compliance of the bank account with the conditions referred to herein). The User is required to indicate the individual reference number generated by the Portal for the User in the payment order.

4.8. If the bank account from which a transfer was made to the Portal Operator does not belong to the respective User or does not meet any other conditions set forth in Article 4.7, also if the reference number set forth in Article 4.7 is not indicated in the payment order, the Portal Operator shall have the right to retain or transfer the sum back to the person who made the transfer and request from the User compensation of expenses related to returning of the payment (automatically deducting them from the Investment Account).

4.9. The sum of the payment made by the User to the Portal Operator in accordance with Article 4.7 is to be registered in the Investment Account and the User shall use it in order to perform obligations arising from transactions made via the Portal or Terms and Conditions to the parties to the transactions made via the Portal as well as to the Portal Operator.

4.10. Unless provided differently in the Terms and Conditions, the User may request from the Portal Operator, to the extent of the positive balance of the non-booked funds reflected in the Investment Account, payment of the funds reflected in the Investment Account to the User, by giving a payment order to the Portal Operator via the respective application of the Portal. The abovementioned order shall be considered as instructions of the User to the Portal Operator to transfer the sum referred to in the order (to the extent of the non-booked positive balance of the account) via a bank transfer to the bank account of the User. Execution of such requests will be carried out at the Portal Operator’s discretion.

4.11. The Portal Operator shall make payments to the User only to the bank account disclosed to the Portal Operator by the User. The User has the right to request from the Portal Operator to make the payments only to the bank account registered to the name of the User in a licensed credit or payment institution, which is registered or operating in a state where money laundering and terrorist financing prevention measures are applied. The Portal Operator shall have the right to refuse to make a payment to the bank account that does not belong to the User or does not meet any other conditions set forth in this Article (the Portal Operator shall have the right to request documents, which confirm compliance of the bank account with the conditions referred to herein).

4.12. If a User wishes to change the User’s bank account number previously provided to the Portal Operator, the User shall inform the Portal Operator of the new bank account number via the respective application of the Portal, thereby confirming that the bank account has been opened in the name of the User and complies with other terms and conditions set forth in Article 4.11.

4.13. The User shall cover the transfer expenses for the transfers made by the User to the Portal Operator. Expenses related to the payments made by the Portal Operator to the User and other expenses related to the payments made for the purposes of execution of transactions and activities by the User shall be reimbursed to the Portal Operator by the User according to the price list established by the Portal Operator. The Portal Operator shall have the unilateral right to change the aforementioned price list by publishing the new price list in the Portal at least 5 (five) working days before its entry into force.

4.14. As a mandatary, the Portal Operator shall keep the funds transferred to him by the Users in the bank account, which the Portal Operator has opened on its name solely for this purpose in a licensed credit or payment institution, which is registered or operating in a state where money laundering and terrorist financing prevention measures are applied. The funds on the Portal Operator’s respective bank account are excluded from the Portal Operator’s assets. The Portal Operator shall keep the funds of the Users separately from its own funds. The funds transferred by the User to the bank account of the Portal Operator shall belong to the User to the extent of the positive balance of the Investment Account. The Portal Operator shall not calculate interest on the funds of the User kept with the Portal Operator and no such interest shall be payable to the User.

5. Claims

5.1. If the User wants to assign the claims belonging to them and acquired via the Portal, they shall use the respective application of the Portal for that and present all the data requested by the application, including the details of the principal amount of claim, and the price of claim. When presenting the application for the assignment of claim (offer), the User shall confirm the terms and conditions of the agreement on the assignment of claim to be concluded with the User who wants to acquire the claim and the offer for the assignment of claim will become binding to the User who wants to assign the claim.

5.3. The User who wants to acquire the claim shall choose the Investment Account through which the agreement on the assignment of claim is concluded. The User may acquire the claims only for the non-booked credit balance on their Investment Account. The User may not acquire the claim if the price of claim and the amount payable to the Portal Operator when carrying out the transaction exceed the non-booked credit balance of their Investment Account.

5.4. In order to acquire the claim, the User shall submit a claim request via the respective application of the Portal, i.e. the acceptance to acquire the claim, under which the User accepts the price of claim and the terms and conditions of acquiring the claim (acquisition of claim pursuant to the offer presented by the User who wants to assign the claim and the standard terms and conditions for the agreement on the assignment of claim established by the Portal Operator). The terms and conditions for the assignment of claim, which have not been specified in the acceptance of the assignment of claim or in the offer presented by the User who wants to assign the claim, arise from the standard terms and conditions for the agreement on the assignment of claim established by the Portal Operator. The acceptance is binding for the User who wishes to acquire the claim in respect to the User who wants to assign the claim. The User who wants to acquire the claim may not unilaterally withdraw from or cancel the confirmed acceptance unless otherwise provided in the imperative legal provisions.

5.5. By confirming the acceptance, the User authorises the booking of credit balance on their Investment Account by the Portal Operator within the price of claim specified in the acceptance and the amount payable to the Portal Operator upon carrying out the transaction (i.e. the respective sum cannot be used for making other transactions or the transfer thereof to the User’s current account cannot be requested).

5.6. By confirming the acceptance, an agreement on the assignment of claim shall be concluded between the User who submitted the acceptance to acquire the claim and the User who presented the offer to assign the claim, which is deemed concluded and enforced as of the moment the User confirms the acceptance of the offer.

5.7. Upon entry into force of the agreement on the assignment of claim, the Users, being the parties to the agreement, may review the agreement on the assignment of claim and the loan agreement serving as basis to the assigned claim in the Portal. The text of the agreement on the assignment of claim shall provide to both parties of the agreement the details of the other party and of the borrower: name, personal identification code / registry code, and contact data.

5.8. If the User, who is a party to the agreement on the assignment of the claim, withdraws from the agreement on the assignment of claim pursuant to imperative legal provisions, the Portal Operator may automatically return to the User who wanted to acquire the claim the amount deducted from their Investment Account.

6. Financial Obligations via Investment Account

6.1. Fulfilment of any and all financial obligations resulting from transactions performed via the Portal and from the Terms and Conditions shall be carried out via Investment Account unless provided differently in the Terms and Conditions. No other financial obligations can be fulfilled or payments made through the Investment Account. Among other things, it is forbidden to make payments from one Investment Account to another Investment Account, except for the payments made automatically and according to the Terms and Conditions by the Portal for the purposes of executing the transactions concluded through the Portal.

6.2. A User may present declarations of intent (including making offers and giving acceptances) through the Portal only in the amount of the non-booked funds reflected as positive balance on the User’s Investment Account, of which no other User’s financial obligations or instructions shall be executed according to the procedures established in the Terms and Conditions. The Portal Operator shall have the right to establish limitations or additional requirements regarding the minimum or maximum balances on Investment Accounts at its own discretion.

6.3. Upon presenting a declaration of intent (including making an offer and giving an acceptance) the User shall give the Portal Operator an irrevocable order, without having to present additional declarations of intent, to debit the User’s Investment Account in order to fulfil any financial obligations arising from the use of the Portal and execute transactions made through it pursuant to the Terms and Conditions, to the extent and at the time established in the transaction, and credit the payment’s recipient’s Investment Account respectively.

6.4. A User shall be obliged to ensure a sufficient non-booked credit balance on their Investment Account in order to perform obligations arising from any transactions made by them in a due and timely manner. The User shall be liable for the violation of the aforementioned obligation according to the terms and conditions of the transaction underlying the obligation.

6.5. The Portal Operator shall reserve the right to use the funds transferred to them and reflected in the User’s Investment Account for the purposes of executing the transactions and activities performed through the Portal by the User in accordance with the Terms and Conditions and the transactions concluded during the use of the Portal. Among other things, the Portal Operator shall have the right to use the respective funds for covering the debts of the User to other Users, third parties (if so, provided by the legal acts or decisions of the courts or competent authorities) or the Portal Operator by executing the respective transactions within reasonable time. The Portal Operator shall not use and the User shall not request that the Portal Operator should use Portal Operator’s funds to fulfil the financial obligations of the User.

6.6. If the Investment Account lacks sufficient funds for fulfilling several obligations that have become simultaneously collectible, the payments made for fulfilling the obligations that have become simultaneously collectible shall be made proportionally to the amount of the obligation.

7. General Obligations of User

In addition to other obligations set forth in the Terms and Conditions, a User shall be obliged:

7.1. Not to use the Portal for illegal transactions or activities, including fraud, money laundering or other similar activities, and to be polite and respectful towards other Users and the Portal Operator;

7.2. To use the Portal through web browsers intended for general purposes and not through the programs that send automatic queries to the Portal for whichever purposes. It is forbidden to use, including but not limited to, robots, spiders, scrapers and other automatic data entry and processing devices. The User is forbidden to perform any activities that disturb or hinder Portal’s intended usage by the Portal Operator or other Users, including refraining from overloading the Portal’s computer network and servers;

7.3. To submit only truthful data and information upon registering the User Account and Investment Account(s). If the User discloses unverified or uncertain data or information during the usage of Portal, the User shall be obliged to indicate it upon disclosing such data or information. The User shall be liable for the damages caused by the violation of the obligation set forth in this article with respect to the Portal Operator and other Users, first and foremost in case where the Portal Operator or another User has submitted a declaration of intent or executed a transaction presuming correctness of such false data. The Portal Operator does not verify the correctness of the information submitted by the Users and shall not take any responsibility for the correctness and truthfulness of the data submitted by the Users;

7.4. To keep the data and devices necessary for logging in to the User Account of the Portal, including the ID card, respective passwords and user IDs and authentication devices in a manner that prevents third parties from gaining possession of them. However, if a third party enters the Portal through User’s User Account, any and all provisions arising from the Terms and Conditions shall apply;

7.5. To inform the Portal Operator immediately about transferring or losing the data and devices enabling logging in to the User’s User Account to third parties and the usage of the Portal by the third parties, and about the risk of unauthorized use of the User Account and Investment Account(s) that may occur respectively;

7.6. To inform the Portal Operator as soon as possible of any changes in the data submitted upon opening the User Account or Investment Account. Until the Portal Operator is informed of the changes in the data, the Portal Operator shall consider the data submitted by the User upon opening of the User Account or Investment Account as the valid data of the User.

7.7. Pay to the Portal Operator fees for the use of the Portal in accordance with the price list of the Portal Operator, effective at the time of providing the respective service and pursuant to other agreements (if available) entered into with the Portal Operator.

7.8. Up until 1 (one) working day has passed from the receipt of the notice set forth in Article 7.5 by the Portal Operator, the declarations of intent and transactions made through the User Account and respective User’s Investment Account(s) shall be considered as the declarations of intent and transactions of the User of the respective User Account and they shall be binding for the User even if the User has not executed such transactions. The respective User shall be liable for the damages caused by the unauthorised use of the User Account and Investment Account(s), except in specific cases when the User’s liability is limited by the respective imperative provisions of applicable law.

8. General Rights of User

In addition to other rights set forth in the Terms and Conditions, a registered User shall have the right to:

8.1. Enter the Portal by using logging in functionality, which is secured by the necessary measures determined at the Portal Operator’s discretion;

8.2. Use the functionalities of the Portal if the User complies with the requirements established for using the specific functionality;

8.3. Review the User data saved by the Portal Operator, amend such data and request the Portal Operator to cease processing it in accordance with the provisions of Article 7.3;

8.4. Provide feedback regarding the services offered by the Portal and respond to the surveys, including the service quality assessments, carried out by the Portal Operator.

9. User Information

9.1. For the purposes of these Terms and Conditions, personal data shall be any and all data and information on a User who is a private person, which this User has disclosed upon registering their User Account or Investment Account, using the Portal and making declarations of intent via the Portal, or which the Portal Operator has learned about such User from third parties. Provisions of this Article 8 that refer to any data shall also be applicable to personal data.

9.2. By registering a User Account and/or disclosing data, the User shall ensure that any and all data submitted by them to the Portal Operator is truthful and up to date, and confirm that they are aware of and consent to the fact that any and all legally collected data regarding the User (including User(s)) which are in the possession of the Portal Operator, regardless of their origin, shall be processed by the Portal Operator for the purposes related to the possibilities of use of the Portal and to the extent necessary for it, as well as according to the bases and procedure established in legal acts.

9.3. The User is aware of and hereby gives their consent in his/her and in the User(s) name for validating the correctness of the data submitted to the Portal Operator and for obtaining additional data from third parties (the consent shall include data of the User(s)). For the above mentioned purposes, the Portal Operator has the right to forward the User’s data (including User(s) data) to third parties.

9.4. A User, who is a private person, has the right to withdraw their consent for processing personal data at any time, request to cease of processing of personal data, terminate the access to them and deletion or closing the collected personal data provided that the User or any of the Users related to them have no on-going process of concluding an agreement via the Portal and no valid agreement concluded via the Portal, and provided that the legal acts do not oblige the Portal Operator to save data. Upon withdrawing the consent to process personal data the User’s User Account shall be closed.

9.5. The Portal Operator shall be obliged to keep the Users’ data confidential and follow any and all rules arising from the Personal Data Protection Act. The Portal Operator shall have the right to disclose User’s personal data to third parties, including other Users, only in cases set forth in the law and Terms and Conditions.

9.6. The Portal Operator shall have the right to disclose (personal) data of a User (including User(s)) to other Users of the Portal, persons belonging to the same group as the Portal Operator and persons who provide the Portal Operator with legal assistance, accounting, auditing or any other services, which presume processing of Users’ personal data, provided that the respective service provider has undertaken the obligation towards the Portal Operator not to disclose the respective personal data to third parties.

9.7. The Portal Operator shall have the right to process the data submitted by the User and data generated during the User’s use of the Portal at any time for statistical purposes and disclose the resulting statistical data, ensuring that it would be impossible to connect the data directly to any specific User.

9.8. The Portal Operator shall have the right to use the email address and mobile phone number of a User (including User(s)) for the purposes of forwarding to the User information, advertising and offers from the Portal Operator or its cooperation partners. The User shall have the right to choose, which notifications and offers they wish to receive through the Portal and refuse to receive offers from the Portal Operator and their cooperation partners, without their respective query through the Portal. Information on how to refuse the offers and advertising sent to the Users by the Portal Operator is available at the offer or advertising and/or settings of the User Account.

10. Liability

10.1. Although the Portal Operator shall take all measures to ensure correctness and reliability of information published in the Portal, the Portal Operator shall not be liable for publishing incorrect or misleading information in the Portal, or for a violation committed or being continuously committed through the Portal, or consequences thereof, of which the Portal Operator is not aware or for which it has taken measures for correcting the information, ending a violation or eliminating consequences thereof.

10.2. The Portal Operator shall not be liable for the correctness and completeness of information received from third parties if the Portal Operator forwards or discloses it in the Portal in the same format as it was forwarded or made available to the Portal Operator in any other manner. If a User discovers incorrectness of information contained in the Portal, they shall be obliged to inform the Portal Operator as soon as possible.

10.3. The Portal Operator shall not be liable for information, opinions and any other content published on websites belonging to third parties to which the Portal directly or indirectly refers or to which links have been published in the Portal.

10.4. The Portal Operator shall not be liable to other Users or third parties if a User violates an obligation set forth in the Terms and Conditions, any other agreement concluded with the Portal Operator, legal act or agreement concluded between Users. The Portal Operator shall be liable for the obligations arising from a transaction concluded through the Portal only if the Portal Operator is a party to a specific transaction.

10.5. If a User causes damages to the Portal Operator by violating any of the obligations, the User shall be obliged to fully compensate the respective damages to the Portal Operator at first request.

10.6. The Portal Operator shall not be liable for the damages that were caused to a User or third parties in relation to the fact that the Portal Operator used their legal remedies (e.g. removed information from the Portal or limited access to it, limited or restricted User’s access to their User Account or Portal), if it was necessary due to a complaint submitted regarding User’s violation, Portal Operator’s suspicion of violation or suspicion of unauthorised use of a User Account or Investment Account or directly due to the fact that information or a User’s conduct is in violation of the Terms and Conditions or legal acts. In such case the Portal Operator shall not be liable for the damages caused even if a complaint or suspicion was unfounded or it later appears that the case did not constitute a violation.

10.7. The Portal Operator shall not be liable for the temporary interruption in the access to the Portal or its functionality.

10.8. The Portal Operator shall be liable only for the direct proprietary damages to the User caused by the Portal Operator’s wrongful material violation of obligations. Other damages or loss of profit shall not be subject to compensation. The Portal Operator shall not be liable if a service provider or any other third party used by the Portal Operator causes the violation of obligations.

10.9. The Portal Operator shall not be liable for settling disputes between the Users that arise from using the Portal but reserves the right to interfere in such disputes at their own discretion if necessary, and in case of violation of the Terms and Conditions, apply, including other possibilities, the provisions of Article 11.2.

11. General Use of Portal

11.1. User Accounts in the Portal are opened without term. If a User and related User have no valid agreements concluded via the Portal and they no longer wish to use the Portal, they can close the User Account and related Investment Accounts and terminate the agreement concluded with the Portal Operator without advance notice. For that purpose, they need to click on the respective field in the settings of the User Account of the Portal.

11.2. The Portal Operator shall have the right to limit or cancel a User’s right to use the Portal and close a User Account and related Investment Accounts (as defined in Article 4), as well as to terminate an agreement concluded with a User at any time without advance notice if it appears that:

11.2.1. The User violates or has violated the Terms and Conditions or any other User obligations;

11.2.2. The User does not accept new Terms and Conditions upon first logging into the Portal after the new Terms and Conditions have been made available in the Portal;

11.2.3. The User has submitted to the Portal Operator or other Users data and/or information that is incorrect, misleading and/or inaccurate;

11.2.4. The User behaves upon using the Portal in bad faith, without dignity, illegally or in contradiction with the moral standards recognized in the society;

11.2.5. The Portal Operator has discovered a circumstance based on which there may be a suspicion that third parties have gained possession of the data and devices allowing logging into the User Accounts, usage of the Portal, and/or the Investment Accounts could be used by an unauthorized person.

12. Termination

12.1. The Portal Operator shall have the right to close the Portal.

12.2. Upon closing the Portal or in cases set forth in Articles 12.2.1 and 12.2.2 (if the User can no longer use the Portal):

12.2.1. The transactions made through the Portal shall remain in force under the terms and conditions set forth therein and

12.2.2. The settlements arising from transactions made between the respective User and other Users shall thereafter take place through the bank accounts of the respective User and other Users on the basis of the payment orders given by such Users (for the purposes of clarity: after the expiry of the right to use the Portal, the Portal Operator shall not be responsible for making or receiving payments on behalf of the Users). The Portal Operator shall inform the Users who have valid transactions made through the Portal with a User who no longer has the right to use the Portal of the expiry of the respective User’s right to use the Portal; and

12.2.3. The Portal Operator may repay the positive balance registered in the Investment Account (as of the moment of expiry of the right to use the Portal), deducting the sums payable to the Portal Operator, to the bank account of the User.

13. Receipt of Notification

13.1. The notifications and messages sent to the User’s mailbox shall be considered as received within 24 hours of sending, they shall be considered as received and read by all Users of the Investment Accounts related to the respective User Account.

14. Other Conditions

14.1. If an article of the Terms and Conditions proves to be void due to contradicting the law, it shall not influence the validity of other articles.

14.2. The information published on  www.arbcap.com is protected by copyright. The use of all or part of the materials published by the Portal Operator is not permitted without the Portal Operator's consent.