This Terms and Conditions document (the “Investment agreement between the investor and BitOfProperty OÜ”, in conjunction with the “Investment Terms and Conditions”, collectively referred to as “Investment Terms”) sets out the terms and conditions, which are applicable to the investments transferred or to be transferred to BitOfProperty internet platform, as defined below, for the purpose of making the investment set out in the Crowdinvesting terms.
By registering on BitOfProperty website www.bitofproperty.com, you confirm your agreement to be bound by these Terms and Conditions. If you do not agree to these Terms, you cannot enter into any investment agreement offered by BitOfProperty on its website www.bitofproperty.com. These Terms expressly supersede any prior agreements or arrangements with you. BitofProperty may immediately terminate these Terms with respect to you, or generally cease offering or deny access to the platform or any portion thereof, at any time for any reason set forth in these Terms and Conditions.
IMPORTANT: Please review the arbitration agreement set forth below carefully, as it will require you to resolve disputes with BitOfProperty on an individual basis through final and binding arbitration. By entering into this agreement, you expressly acknowledge that you have read and understand all of the Terms and Conditions of this agreement and have taken time to consider the consequences of this important decision.
The contents of these investment terms are not intended to be construed as legal, financial or tax advice. Each eligible user should consult with a legal, financial and/or tax advisor from their behalf. In case of doubt about the contents of the following investment terms or subsequent action subject to be taken upon by a user, the user should consult with a person specialized in advising on the provision of investments.
Investment agreement between the investor and BitOfProperty
Investor (name as stated on the login account on BitOfProperty website www.bitofproperty.com) BitOfProperty OÜ (registry Code: 12844051)" %}
Principal investment terms: The Terms and Conditions are available below the Investment agreement
Investment Currency: EUR
Arrangement Fee: EUR 2-4% from the Acquisition Amount (paid by the seller of the real estate investors wish to invest)
Administration fee: 10% of the administrative costs on each real estate property (paid by the investor to BitOfProperty)
Success Fee: 15% from the Investment capital gain is paid to BitOfProperty OÜ at the exit (paid by the investor to BitOfProperty)
Management Board: The management board members overseeing the investment agreement are the registered representatives of BitOfProperty OÜ.
Company’s shareholder: 100% shares must be owned by a company owned by BitOfProperty OÜ.
Upon the commencement of the funding target shown in the relevant investment on BitOfProperty portal, the investment agreement between the investor and BitOfProperty shall be transferred over to a Special Purpose Vehicle (“SPV”), which assumes the investment obligations described in these Terms and Conditions. Subsequently, the investment agreement herein shall remain in force in its entirety between the Investor and the SPV, whereas SPV shall be the owner of the investment property the Investor has given consent to invest into under this investment agreement and Terms and Conditions. BitOfProperty continues to provide its services as the portal operator to the investor and SPV through its website www.bitofproperty.com.
Applicable Terms and Conditions: The Investment Terms and Conditions annexed hereto apply to each investment to the Company. In addition, the terms and conditions set out in the investment Request apply to provision and disbursement of the investment.
Inconsistencies: In the event of any inconsistence between the provisions of the Investment Terms and these Investment Terms, the Investment Terms shall prevail. In the event of any inconsistencies between an accepted Investment Request and the Investment Terms, the accepted Investment Request shall prevail.
Binding consent treated as a signature is given by the investor by registering and identifying oneself on the BitOfProperty website www.bitofproperty.com, subsequently by ‘ticking the box’ indicating the agreement to comply with the Terms and Conditions hereby." %}
Terms and Conditions
These BitOfProperty Terms and Conditions regulate the terms and conditions of the use of applications and functional units located on a public computer network at address www.bitofproperty.com and its sub-pages or at web pages within the same administrative domain ('BitOfProperty' or 'portal'), including rights and obligations related to the use of BitOfProperty by a person having expressed the wish to become the BitOfProperty user and/or a person registered as the user ('user'). Inter alia, the relevant rights and obligations comprise the rules that apply to the interrelations of the users as between themselves as well as their relationship with the operator of the portal, BitOfProperty OÜ ('portal operator').
The aim of BitOfProperty is to enable the users of the portal to use its technical solutions by the means of joint venture investments for the purposes of co-funding the acquisition of real estate on the principle of crowdinvesting through a blockchain platform. In order to contribute in the joint venture, the user wishing to investment must enter into an investment agreement, in accordance with the procedure established in these Terms and Conditions. The relevant investment agreement constitutes a separate contract investor for the purposes of investment capital available for contribution, under the rights and obligations of which are performed, inter alia, with the specifications and restrictions based on these Terms and Conditions. These Terms and Conditions are considered as an investment agreement for the purposes of real estate crowdinvesting.
BitOfProperty cooperates with investors who have registered as users of the portal. The investor fee for partaking in the crowdinvesting offered by BitOfProperty is included in fees indicated in section 14.