General Conditions

The website: www.brickfunding.com (hereinafter, “Website”) has been created and is currently owned by the company Brick and Mortar Digital Business, S.L. (hereinafter, “BrickFunding”), which manages and administers it for the purpose of offering the Users access to Crowdfunding real estate investment Projects and Platforms, enabling them access from one single website to the information available on various parts of the web. In fulfillment of article 10 of Act 34/2002, of July 11, on Information Society Services and E-Commerce (Ley de servicios de la Sociedad de la Información y Comercio Electrónico) (LSSICE), below are the details identifying the company:

Holder:

Brick and Mortar Digital Business, S.L.

Spanish Tax ID Code nº: B87696274

Calle Artistas 46

28020 Madrid

Commercial Registry: Commercial Registry of Madrid, Volume 35.344, Folio 100, Section 8, Page M-635399, Entry 1

Phone:

+34 810 10 19 51

Email: info@brickfunding.com

Please read this Legal Notice carefully and, in the event you do not agree with any of the conditions established herein for the use of the Website, please leave it immediately and refrain from using it in the future.

In order to be able to enter the Website and participate in the various sections of the same, you must have previously agreed to this Legal Notice.

 

1.   Acceptance of the general conditions

Any person accessing and using this Website is classified as a User (hereinafter, “User”), and this implies the full unreserved acceptance of all these provisions (hereinafter, the “General Conditions”), as well as those of the Privacy Policy and the Cookies Policy; the aforementioned documents as a whole comprise the Legal Documents regulating the Website, and the User undertakes to make proper use of the Website in accordance with the law, decent morals and public order.

Some of the services of the Website available to Internet Users may be subject to specific conditions, regulations or instructions which, where applicable, may replace, complete and/or amend this Legal Notice, and which must be accepted by the User before the provision of the corresponding service commences.

The User provided with a User name and password in order to enter a certain section of the Website undertakes to preserve them and use them with due diligence. The use of the password is personal and non-transferable, and not even temporary assignment to third parties is allowed. In such sense, the User must adopt all measures necessary to safeguard the password they have chosen, preventing the use of the same by third parties. As a result, the User is the only party liable for the use made of their password, holding BrickFunding fully harmless. In the event the User should discover or suspect their password has been used by third parties, they must report such circumstance to the Website as soon as possible.

BrickFunding reserves the right to amend the presentation and configuration of the Website and to change these General Conditions in full or in party. As a result, it is up to the User to regularly consult the latest version of the same published on the “Legal Notice” web page. Such changes will be published on the Website so that the User may be aware of them before proceeding to use it. The User must accept the updated version of the General Conditions on each connection to the Website.

In the event the User does not agree, they must refrain from using the Website.

The User undertakes to use this Website pursuant to law, decent morals, generally accepted proper conduct, prevailing public order and the provisions of these General Conditions. In particular, the User undertakes to refrain from using the Website for purposes which are unlawful or are harmful of the rights and interests of BrickFunding, or of any third parties, and also undertakes not to use it in any way which might damage, render useless, overload or impair the Website or prevent its normal use.

In the event the User should fail to respect these General Conditions, BrickFunding reserves the right to refuse or withdraw access to the Website by the User at any time and with no need for prior notice.

 

2.   Description of the service

BrickFunding offers the User on this Website easy access to a compilation of Crowdfunding real estate investment Projects and Platforms, enabling them to find all the information available on the web grouped together on one single web page, contributing to the viewing and locating of offers or advertisements referring to the same, which are published freely in open format for the public on various webs de Real Estate Crowdfunding in different countries.

The purpose of the linking devices which BrickFunding pone available to the User is to facilitate, to the extent possible and in good faith, the search for information on investment opportunities in Real Estate Crowdfunding, and on the Crowdfunding Platforms marketing them, available on the Internet.

Through this service, BrickFunding puts supply and demand into contact quickly, easily and effectively, providing a twofold benefit, both to the User seeking the product and to the Crowdfunding Platform advertising it.

BrickFunding is not a Crowdfunding Platform nor a Participating Financing Platform: it neither manages nor sells spaces for these advertisements, nor acts as intermediary between developers and investors.

BrickFunding is an aggregator of products or projects published on crowdfunding websites which redirects traffic towards the original websites, from where it takes only a minimal part of the content of each advertisement appearing on the Website. BrickFunding always refers to the website where the original advertisement is published, connecting each advertisement summary to the original advertisement through hyperlinks.

 

3.   Duration of the service

BrickFunding has created this Website as an ongoing service and will make all efforts reasonably necessary to ensure that the information available on the Website is up to date and that the Website is available at all times. However, it is unable to guarantee that such information will be updated at all times and free from errors, or a fast, uninterrupted use thereof.  In particular, merely by way of example, BrickFunding accepts no liability in the following cases:

  • Any technical faults which, due to unforeseen circumstances or those of any other nature, might prevent the normal functioning of the Website;
  • Unavailability of the Website on maintenance or other grounds, preventing the service from being available;
  • Damage deriving from computer virus or the like, or that arising as a result of improper use of the Website;
  • Interference by any third parties in the service. Taking into consideration technical advances, it is possible that third parties might enter the Website and cause disturbance. Notwithstanding any technical measures which may be adopted in order to reduce these types of risks, Website does not assume any liability for any damage the User may be caused on these grounds.

BrickFunding reserves the unilateral right to temporarily suspend or definitively end the provision of services through this Website, or temporarily suspend or definitively end the service of some of its pages, assuming no liability for any  damage and/or prejudice and/or profit not obtained by the User or any other third party which might be harmed as a result of such suspensions.

 

4.   Cost of the service

Access to this Website by the Users is free of charge, notwithstanding the connection cost through the telecommunications network of the supplier contracted by the Users, payment of which corresponds to the latter and in respect which this Website does not assume any liability whatsoever.

Future costs may possibly be introduced depending on the progress of the services proposed, the progress of the web, technical aspects and/or legal conditions. The User will be duly informed of any possible changes to these General Conditions through the Website.

This Website contains links to other web pages of any third parties, which are run by companies unrelated to BrickFunding. It is up to the User to carry out any suitable checks in order to verify the content of the legal notice and general conditions of each third-party website, and whether these services are paid, before continuing with the transaction with the third party.

 

 

5.   Intellectual Property

Any intellectual property rights over the contents, distinctive signs, graphic design, and over the structure, choice, ordering and presentation of the information, the software and, in general, any material used on the Website belong to BrickFunding or, where applicable, its licensors, such as, by way of example:  source codes, graphic and design elements, menus, texts, trademarks, logos, combinations of colors, buttons, images, graphics and any other content of the Website, as well as the structure, choice, ordering and presentation of the contents of the Website. BrickFunding or, where applicable, its licensors, hold the exclusive right to use them in trade, and they are protected by national and international intellectual property regulations. BrickFunding and other names of products, services, symbols and logos of BrickFunding are protected trademarks registered in the European Union and in other countries.

The User recognizes that access to the Website does not confer on them, in respect of such intellectual property rights, any right other than their use under the conditions established in this Legal Notice.

The compilation of crowdfunding projects and platforms BrickFunding makes available to its Users (understanding this to mean the compiling, ordering, assembling, layout, design and presentation of such information) is the exclusive property of BrickFunding and is likewise protections by national and international intellectual property regulations. The names of any projects, services or companies mentioned in this compilation are registered trademarks of their respective owners.

Under no circumstances does access to this Website imply any type of waiver, transfer, license or total or partial assignment of such rights, unless expressly otherwise established.

Pursuant to the foregoing, Users may not reproduce, transform, amend, disassemble, carry out reverse engineering on, distribute, rent, loan, make available to or allow access by the public through any public communications means any of the elements mentioned in the previous paragraph, without the prior written consent of BrickFunding or of the respective rightholders. Likewise, the User undertakes not to commercially exploit, either directly or indirectly, the materials, elements and information obtained from the Website, in full or in part, without the prior written consent of BrickFunding.

 

6.   Links to other websites

This Website includes links to websites and web pages not managed by BrickFunding, without this meaning that BrickFunding recommends or approves their content. BrickFunding does not assume any liability for the services, data, files, products, materials or any type of content appearing on such websites or web pages available through links, and under no circumstances undertakes to control their contents.  Such links are included in order to be able to arrive at the websites hosting all the information on each of them. BrickFunding does not exercise any control over such websites managed by third parties, and is not responsible for the content thereof. Therefore, Users access both the content they offer and agree to their conditions of use at their own exclusive responsibility.

BrickFunding will not under any circumstance be liable for the legality of the contents of such pages, with everything concerning the content of this link being the exclusive liability of the third party, especially as regards the law, morals, proper conduct and public order. The existence of links does not presuppose any relationship of any type between BrickFunding and the holder of the web page linked.

The inclusion of any links or links to other websites does not mean that BrickFunding promotes, guarantees, ensures or recommends them. The links included on this Website are offered as the source of the original information in respect of the summary of the same shown in the compilation offered by BrickFunding, without any type of evaluation as to the contents, owners, services or products offered thereon.

This Website contains information on real estate crowdfunding projects and platforms (description, photographs, specifications, amounts, types of investment and additional information) exclusively included for information purposes and offered on the Internet by various crowdfunding web pages from which BrickFunding loads the content.

All the information the service provides comes directly from the companies marketing such services and articles, which are the owners of the information and which make them public. Therefore, as a result, it is these companies that are liable for their veracity. Consequently, BrickFunding does not guarantee the accuracy of any information provided through a link, and this under no circumstances constitutes a contractual document.

Each advertisement specifies the website it comes from, and it is up to the User to check all the information which might appear necessary and appropriate before proceeding to invest in any of the Real Estate Crowdfunding projects appearing via links on this Website. BrickFunding is also unable to guarantee in any way the products, services and/or commercial practices of the websites linked.

By virtue of the foregoing, BrickFunding releases itself from all liability due to any possible conflicts between Users related to the use or contents of the Website. In particular, in respect of any conflicts arising from the intellectual property rights over the contents of the Website, BrickFunding only undertakes to apply the policy described in its Report and Withdrawal Procedure.

 

7.   Release from Liability

Not with standing the provisions of the foregoing section, BrickFunding assumes no liability which might derive from a lack of veracity, completeness, updating or accuracy of the data or information regarding offers, products or services, prices, features and any other relevant data or information on the products and services offered through the websites linked.

There is no relationship or association of any type between BrickFunding and the holders of the web pages linked, and therefore BrickFunding does not assume any liability deriving from the non-fulfillment, in full or in part, by the suppliers of the products and services linked, of the obligations deriving from prevailing regulations and the terms and conditions of sale of each of the products and services contracted through the websites linked.

BrickFunding neither controls nor guarantees the effectiveness of the services or absence of computer virus from the services provided by third parties through their linked web portals, which might cause alterations to its computer system  (software and hardware) or to the electronic files and document stored on its computer system. Therefore, it will not be liable for any damage and/or prejudice and/or profit not earned by the User or any other third party prejudiced as a result of the same.

BrickFunding does not guarantee that this Website will work in a manner which is constant, reliable and permanent, without delays or interruptions, and informs the User that there may be inaccuracies or errors, and assuming no liability for any damage and/or prejudice and/or profit not earned by the User or any other third party prejudiced as a result of the same

BrickFunding will not be liable for any damage and/or prejudice and/or profit not earned by the User or any other third party prejudiced as a result of any circumstance of force majeure, unforeseen circumstances, fault or error in the communication lines, or the faulty provision or fault of the Internet.

BrickFunding will not be liable for any damage and/or prejudice and/or profit not earned by any third party prejudiced as a result of a willfully negligent or culpable action by the User.

BrickFunding does not assume any liability for any information which might exist on us on websites of any third parties, or for any which may be accessed through search engines or links of any third parties to our Website.

The User will be liable for any damage of any nature which BrickFunding may suffer as a result of the non-fulfillment by the User of any of the obligations established in these General Conditions. Likewise, the User will hold BrickFunding harmless in respect of any penalty, claim or complaint which may be filed by a third party, including any public authorities, against BrickFunding, its administrators, attorneys-in-fact or employees as a result of the infringement of any rights of any third parties or of any applicable regulation on the part of such User through the use of the Website in a manner contrary to the provisions of this Legal Notice.

 

8.   Protection of personal data

The User must read and accept the personal data Privacy Policy of the Website.

 

9.   Additional notices

Not with standing the provisions of the foregoing paragraphs, BrickFunding expressly informs the Users of the financial risks they may incur if they decide to invest through any of the Crowdfunding Platforms to which we provide links. It will be the sole responsibility of the User to act with all due diligence once they access such Crowdfunding Platforms.

BrickFunding does not provide any financial advice, or investment recommendations, to its Users, and is therefore not an Investment Service Company. As a result, BrickFunding is not supervised by the Spanish National Securities Commission (Comisión Nacional del Mercado de Valores) (CNMV).

BrickFunding informs its Users that the compilation of links offered on this Website has not been supervised by the CNMV or the Bank of Spain, and that under no circumstances do such links constitute an information prospectus approved by the CNMV.

BrickFunding informs its Users that, even though many of the platforms linked do indeed have the authorization and supervision of the stock market supervisor of their country of origin, and in many cases, in addition, the authorization is compulsory, it will be the sole responsibility of the User to verify the veracity of the information provided by these platforms and their compliance with prevailing regulations.

BrickFunding does not recommend, promote or participate in any of the Crowdfunding Platforms to which it provides links and, therefore, is not responsible for any possible profits and/or losses the User may have should they decide to invest in any of the products and/or services to which we provide links.

We summarize below, by way of example, some of the risks involved in investing in real estate crowdfunding, whether through the platforms to which we provide links or any other:

  • Risk of loss in full or in part of the money invested: all investments involve a risk, including those which seem the safest, and real estate crowdfunding is no exception. The illusion of the dilution of the risk, on being divided among all the participants, is not so, and the investor may lose the money invested in full or in part.
  • Risk of not obtaining the profitability expected and/or of not receiving the profitability estimated, which a project offers to be calculated according to the forecasts of its business plan; however, when the time comes to divide up the dividends, these will be calculated depending on the actual results the project has achieved, and this may mean that the profitability  is lower than, equal to or high than that forecast, or there may even be no dividends. Past profitability does not guarantee future profitability.
  • Risk of dilution: although it is not common in real estate crowdfunding, if there is a new round for capturing capital within a project in which we have already invested, this could cause the dilution of the stake in the company.
  • Risk of having no influence in the management of the project: it is common in real estate crowdfunding for the investor not to be able to participate in the development and the management of the real estate project, which will be carried out exclusively by the developer.
  • Risk of lack of liquidity of the investment: in general, any investments in real estate crowdfunding are made by acquiring shares from a limited liability company (Sociedad de Responsabilidad Limitada) (S.L.) which will be the owner of the real estate assets, and a partner wishing to sell its stake in such company in advance may have difficulty in finding purchasers for its shares. Moreover, restrictions on the free transfers of shares, and the absence of any secondary market, mean that the investor should consider their investment

 

10.         Applicable Law and Jurisdiction

 

This Website is subject to Spanish legislation, complying with general prevailing regulations, inter alia, Organic Law 15/1999, of December 13, on the Protection of Data of a Personal Nature, Royal Decree 1720/2007, of December 21, approving the development regulation of the LOPD, and Act 34/2002, of July 11, on Information Society Services and E-Commerce .

BrickFunding does not act as intermediary between developers and investors and therefore is not a Participating Loan Platform, being excluded from the scope of Act 5/2015, of April 27 , on the fostering of business financing.

BrickFunding does not advise its Users nor operate as an Investment Service Company, and is therefore excluded from the scope and requisites of Royal Legislative Decree 4/2015, of October 23, approving the consolidated text of the Securities Market Act.

In the event of any dispute or conflict arising in relation to this Website, and notwithstanding those matters submitted to obligatory jurisdictions, these will be resolved by the Courts and Tribunals of Madrid, with the parties expressly waiving their right to any other jurisdiction, where applicable.