These General Conditions of use of the MICRE CROWD LEND platform govern the relations between MICRE and its Associates, as well as the relationship between the Associates themselves. If you decide to be a User of the MICRE CROWD LEND platform, you will necessarily have to agree to the following General Terms and Conditions.
By using the MICRE CROWD LEND platform, you are confirming that you have read, understood and agreed explicitly with the General Conditions. If you have not read, understood or accepted the MICRE CROWD LEND General Terms and Conditions, you must stop using the MICRE CROWD LEND platform immediately. If you are representing a collective entity, when using the MICRE CROWD LEND platform, you are affirming that the same collective entity that you have read, understood and agreed to the General Conditions. Otherwise, you must stop using the MICRE CROWD LEND platform immediately.
The MICRE CROWD LEND platform is an online marketplace that allows MICRE members to come into contact with one another in order to establish a new source of financing for the economy. The function of MICRE is, in general, to manage and maintain the MICRE CROWD LEND platform, bringing in associated associates and providing the necessary services for its operability in the execution of contracts Among them, as well as assist the Associates in fulfilling the financing agreed through the MICRE CROWD LEND platform. All actions and decisions taken through the MICRE CROWD LEND platform, including the decision to enter into a contract, the definition and acceptance of the respective conditions, namely the amount and the rewards, are the sole responsibility of the members.
The MICRO CROWD LEND platform will use the services of Partner Banks and / or a payment institution duly authorized and supervised by the Bank of Portugal to receive, transfer and collect funds from Members.
MICRE does not advise or offer any kind of recommendation to members through the MICRE CROWD LEND platform. Any information provided does not represent a form of advice, recommendation or endorsement by MICRE, and is not intended to be a form of trust and / or the sole basis for the User to make any contracting decision.
Borrowing micro and small developers is a risky investment that can result in the loss of the Capital of the Supporter even if guaranteed by a mortgage. Support should clarify all your questions before using the MICRE CROWD LEND platform. MICRE is not responsible for any losses that the Supporters may suffer as a result of loans made through the MICRE CROWD LEND platform.
Definitions
Throughout these General Conditions, the following definitions shall apply, among others:
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Promoters - entities seeking financing from Supporters and intending to act as borrowers and who have created an account on the MICRE CROWD LEND platform, having accepted the General Conditions and Privacy Policy thereof;
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Registration / Account MICRE - registration / individual account of a User created on the MICRE CROWD LEND platform.
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Contract agreement - legal agreement concluded between members in connection with applications for funding through the MICRE CROWD LEND platform and governing the agreement between the Parties;
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Supporters - people who wish to make onerous loans with promoters and act as lenders and who have created an account on the MICRE CROWD LEND platform, having accepted the General Conditions and Privacy Policy of the same;
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MICRE CROWD LEND / electronic platform / Platform - A collective lending platform managed by MICRE accessible through the site https://micrept.wixsite.com/micrecrowdlend or through a mobile application developed by MICRE. It may also be used to refer to the MICRE entity as defined below;
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MICRE - entity responsible for the management of the MICRE CROWD LEND platform, in this case the MICRE - Microcredit Association of Portugal;
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MICRE PAYMENTS or partner bank - entities responsible for fund management and payment processing
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User - Covers the universe of members as defined above.
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Financing Amount - Value equal to or less than 80% of the Property Valuation
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Monthly fixed reward: amount equal to an annualized rate of MAX (3% or EURIBOR) of the amount owed
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The terms and expressions defined in the singular or plural in Clause 2, in the rest of the General Conditions, may be used, respectively, in the plural or in the singular, with a corresponding change in their meaning, unless otherwise indicated in the respective context.
Financing through MICRE
Generally, financing through MICRE consists of loans made by a large number of individuals to natural or legal persons who wish to see their projects financed through collective financing. Consisting of a typical peer-to-peer operation applied to the financing, ie both ends of the financing cycle are in contact with one another without the intervention or participation of an intermediary.
Financing is made available directly by the lenders to borrowers, supported by an electronic platform, which defines the terms of the financing, namely: (i) amount and repayment terms; (Ii) monetary reward (iii) mortgage guarantees. We are thus faced with the celebration of onerous loans between lenders and borrowers, in the exact terms described in articles 1142 and 1145 of the Central Bank. "Mutual is the contract by which one party lends to another money or other fungible thing, Obliged to restore another of the same kind and quality. "
The MICRE CROWD LEND platform only transmits information between lenders and borrowers and registers the respective conditions for the execution of the loan agreement, which will be freely entered into between them without any intervention by the MICRE CROWD LEND platform.
All payment, transfer and receipt of funds and collections operations are carried out by the Partner banks or by MICRE PAGAMENTOS, (to be created) a payment institution authorized and supervised by the Bank of Portugal.
Support should clarify all your questions before using the MICRE CROWD LEND platform. MICRE is not responsible for any losses that the Supporters may suffer as a result of loans made through the MICRE CROWD LEND platform.
MICRE shall not be liable for any damages or losses that may occur to the Promoter making an unsuccessful request for financing through the MICRE CROWD LEND platform, including loss of project, customer or any other related situation. The promoter may only receive funding from supporters after successfully completing their application for funding, ie only after having raised the entire amount proposed.
PARTNER BANKS AND MICRE PAYMENTS
MICRE currently uses partner banks to open joint accounts between Promoters and MICRE
MICRE payments will manage, within its activity, the MICRE CROWD LEND platform, through which (and under the conditions to be exposed), its associates will enter into loan agreements electronically, by meeting each other's wishes in the Which MICRE will not be a party.
MICRE will thus bridge the gap between partners by creating a new source of funding from a peer-to-peer perspective in which promoters establish a direct link with people.
The orders inherent to the contracting of the loans will be instructed by the members directly to MICRE, who will aggregate all the information. MICRE will take into account only and only the orders transmitted to it by the Associates through the MICRE CROWD LEND platform.
MICRE does not give advice or offers any kind of recommendation through the MICRE CROWD LEND platform. Any information provided does not represent a form of advice, recommendation or endorsement by MICRE, and is not intended to be a form of trust and / or the sole basis for the member to make any contracting decision.
MICRE will always have a clear and transparent communication policy with all participants in the platform, highlighting whenever necessary all the inherent risks.
MICRE CROWD LEND platform (Technical Conditions)
MICRE's main concern is the safety of the operations of Associates. In addition to the security of the infrastructure of the platform each of the operations performed by the Associates is subject to its own procedures that ensure a high level of security in accordance with good data protection and encryption practices. The IT Architecture Platform is based on servers hosted in cloud services.
However, the User acknowledges that the management and maintenance of the MICRE CROWD LEND platform is based on complex technical means, in which errors and anomalies may arise, as well as adjustments and repairs, so that MICRE can not guarantee the operation of the Platform at any time , And can not be imputed damages, losses, loss of profits or any damages arising from one of these situations.
MICRE shall not be liable for any problems, temporary or permanent failures, as well as any undue and unlawful violations of the security systems of the MICRE CROWD LEND platform, resulting from the performance of third parties or the User, which may result in improper disclosure of information Staff. The User will be solely responsible for the connection and security conditions of your internet connection.
The MICRE CROWD LEND platform may be temporarily suspended for maintenance, technical imposition or reformulation, requiring its suspension or its non-suspension jeopardizing the safety of the Platform.
You are responsible for your connection to the Internet, as well as their communication devices, and MICRE can not be held liable for failure to operate, operate and / or be compatible with the Platform. The Client is also responsible for its transmission and data, keywords, anti-virus, Anti-spyware, and MICRE is not responsible for any improper or abusive use of such items by you.
Access to the MICRE CROWD LEND platform is via the website www.Micre.pt via internet browsers that are properly updated and certified on desktop computers or through mobile phones (Internet Explorer, Chrome, Firefox, Safari) as well as for some Affiliates Understand it through a mobile application developed by MICRE for this purpose.
Registration and criteria for participation in the MICRE CROWD LEND (General)
The use of the MICRE CROWD LEND platform starts with the registration of the Associates in it, and it is not possible to operate on the MICRE CROWD LEND platform without the User being registered. When you start the registration process, the User must enter a valid email address and set his / her unique registration password. In order to create your account, the User must also read and accept the General Conditions and become an effective member of MICRE
The use of the MICRE CROWD LEND platform will also require the creation of an Account by the User with BANCO Partner / MICRE PAGAMENTOS (to be set up), a payment institution authorized by the Bank of Portugal to develop its activity of management, transfer, reception and collection of funds. When creating a MICRE account, the User must also create an account with Banco Parceiro / MICRE PAGAMENTOS.
By using the MICRE CROWD LEND platform, you confirm that you have read, understood and agreed explicitly with the General Terms and Privacy Policy. If you have not read, understood or accepted the MICRE CROWD LEND Platform's General Conditions or Privacy Policy, you must stop using the MICRE CROWD LEND platform immediately. If you are representing a collective entity, when using the MICRE CROWD LEND platform, you are asserting that the same collective entity that you represent read, understood and agreed to the General Conditions and Privacy Policy. Otherwise, you must stop using the MICRE CROWD LEND platform immediately.
The Members, during the registration process, guarantee to MICRE that the information and documents made available are correct and true. In case of change of any information provided during the registration process, the MICRE CROWD LEND Platform Members shall make such changes by contacting MICRE as soon as possible.
MICRE reserves the right to reject the participation of Associates who do not meet the eligibility criteria defined in these General Conditions. MICRE also reserves the right, unilaterally and without prior notice, to terminate the account, suspend or place limitations on the use of the Members' accounts in the following situations:
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To the extent that it is imposed by any legal provisions or judicial decisions;
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Whenever there is suspicion of use of the account to carry out illicit or criminal practices;
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Provided they have not safeguarded the requirements for participation in the MICRE CROWD LEND platform, including compliance with these General Conditions and Privacy Policy;
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If the Mutual Agreements entered into through the MICRE CROWD LEND platform are not complied with;
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Or using a MICRE CROWD LEND platform in one of the following ways:
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Use capable of undermining the operation of the MICRE CROWD LEND platform as a whole, both in terms of its stability and its safety;
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Invalidity of the account by the User for a period of 12 months;
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Performing erratic actions on the MICRE CROWD LEND platform without any purpose related to the conclusion of loan agreements.
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The use of the Platform is solely and exclusively for adults, being prohibited to minors, or any person with personality restrictions, including but not limited to prohibited persons, as well as those who, due to their usual prodigality Or the abuse of alcoholic beverages or narcotics, if they are unable to properly manage their assets.
The personal data provided through the Platform are intended to be used by MICRE, by MICRE's partner promoters in the management and operation of the Platform and the provision of services necessary for its operation and / or by entities integrated in a consolidated basis.
Registration and criteria for participation in the MICRE CROWD LEND platform for Supporters
To register as a Supporter on the MICRE CROWD LEND platform, the User must comply with the following minimum participation criteria:
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To be a legal person with Portuguese or singular NIPC, of at least 18 years, with Portuguese NIF;
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Hold an account with a European Union banking institution;
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Accept the General Conditions and be a Member of MICRE;
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Register at https://micrept.wixsite.com/micrecrowdlend and provide all the information necessary to process the same;
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Have a Payments Account with the Partner Bank or MICRE PAGAMENTOS for this purpose.
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Supporter registers with the MICRE CROWD LEND platform and transmits his personal information, authorizing MICRE to proceed with the processing of his personal data, namely: i) elements of personal identification; (Ii) contacts and (iii) bank details.
The Sponsor shall provide to MICRE, at the time of registration, an email address and the required information elements related to their personal identification, residence and other elements necessary to ensure a correct identification thereof. At the time of registration, the User will also have to define a personal and non-transferable password that will be necessary to access the User's personal area upon successful completion of the registration process.
Any misrepresentation or misrepresentation may be stored and used by MICRE for criminal purposes and may be freely communicated to the competent authorities for investigation of potentially existing criminal offenses.
MICRE may require its Members to provide proof of identity for the purposes of identity verification, verification of compliance with participation requirements or to comply with any other legal or regulatory purposes.
The personal data provided through the Platform are intended to be used by MICRE, by MICRE's partner promoters in the management and operation of the Platform and the provision of services necessary for the operation thereof, and / or by entities integrated on a consolidated basis.
The User authorizes MICRE, to carry out within the limits of the law, the storage, computer processing, communication, intercommunication, transmission of its personal data, for general operation of the platform, for promotional actions of products and new services of MICRE, as well as for the Compliance with all applicable legal and regulatory provisions, and may assign and transmit these elements to MICRE partner entities in the management and operation of the Platform and provide services necessary for the operation of the same or entities that are in a domain or group relationship with the MICRE or subcontracted for this purpose.
The User also authorizes MICRE, in case of default or non-compliance, to communicate such facts to entities, or any promoters who are authorized to process personal data and exchange information on credit risks, if necessary.
The User understands and accepts that the information requested of him either for his registration in the Platform or for the contract and fulfillment of the Mutual Contracts is asymmetric and different depending on whether he is a Sponsor or a promoter.
The User must keep his / her personal data permanently updated, proceeding to change his / her personal data with MICRE. The member shall be solely and exclusively responsible, for elements that are wrong, false or that in any way do not correspond to reality.
Registration process and criteria for participation in MICRE for Promoters
In order to register as a Promoter on the MICRE CROWD LEND platform, the User must comply with the following minimum participation criteria:
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To be a legal person with Portuguese or singular NIPC, of at least 18 years, with Portuguese NIF;
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Have activity constituted at the time of starting the business project with real estate
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Does not appear in the central of credit responsibilities (CRC) in default;
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Not be a defendant in legal proceedings in which the value of the action is material;
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Have a regularized tax situation (Social Security and Tax Administration);
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Accept the General Conditions and be a member of MICRE;
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Provide MICRE, at the time of registration, with the following information and documents: (i) company name, (ii) permanent permanent active number, (iii) company address, (iv) Portugal), (v) personal and relevant information of the legal representative (s) and / or other partner (s), (vi) relevant bank details; Vi) other financial and non-financial information additional to the promoter as requested by MICRE;
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Present activity and financial indicators that allow a positive assessment of financial sustainability;
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Have an account with the Banco Parceiros or the MICRE PAGAMENTOS, (entity to be set up) payment institution authorized by the Bank of Portugal, an Account for this purpose.
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Copies of the documents in question should be sent electronically or by mail to MICRE care to the following addresses: geral@micre.org using the same email address used for registration, or MICRE: R Soeiro Pereira Gomes, 5312 1600- 196 Lisbon
MICRE may also request additional financial and non-financial information from the member, and the financial information agency (s) are requested to provide information on the financial situation of the sponsor.
The associate authorizes MICRE, to proceed within the limits of the law, to the storage, computer processing, communication, intercommunication, transmission of its personal data, for general operation of the platform, for promotional actions of products and new services of MICRE, as well as for the Compliance with all applicable legal and regulatory provisions, and may assign and transmit these elements to MICRE partner entities in the management and operation of the Platform and provide services necessary for the operation thereof, and entities that are in a domain or group relationship with MICRE or subcontracted for this purpose.
The member also authorizes MICRE, in case of delay or default, to communicate such facts to entities, or any promoters who are authorized to process personal data and exchange information on credit risks, if necessary.
The member understands and accepts that the information requested for both his registration in the Platform and the contracting and completion of the Mutual Contracts is asymmetric and different depending on whether he is a Supporter or a promoter.
MICRE will not disclose to its members any personal data about Supporters and / or their legal representatives until the conclusion of any Mutual Agreement with promoters, this information being treated as personal information and exclusive and exclusive knowledge of MICRE without disclosure of its content to third parties .
The associate hereby consents to the public disclosure, in the Platform or out of it by any means of communication, of the following information, necessary for the disclosure and promotion of its financing request, disclosing the following information: i) corporate name; Ii) identification of the manager (s) / legal representative (s); Iii) number of legal person; Iv) date of incorporation; V) area of activity; (Vi) elements contained in simplified promotional information (HEI); (Vii) additional financial information; Viii) issues related to the activity and purpose of the financing; Ix) history of the use of the platform.
The associate authorizes and consents to MICRE the use of the personal data made available in the performance of its activity, as well as in the: i) completion of the Mutual Agreement; Ii) management of individual accounts; Iii) loan management and recovery; Iv) identity validation; (V) fraud prevention and detection; Vi) mandatory communications with legal entities; Vii) legally binding communications; Viii) communication to MICRE partner entities in the management and operation of the Platform and availability of services necessary for its operation; Ix) communication to entities with which it is in a domain or group relationship.
The member must keep their personal data permanently up to date, and change their personal data with MICRE. The User will be solely and exclusively responsible, for elements that are incorrect, false or that in any way do not correspond to the reality.
For those members who wish to act as promoters, and after validation of compliance with all minimum participation criteria, MICRE will freely decide on its classification in risk bands based on the information provided directly, as well as information provided by the ) Financial information agency (s) and information extracted from other sources of public and private access information.
The process of selection and analysis of promoters by MICRE can not be considered As a recommendation or guarantee on any loan that may be made through the MICRE CROWD LEND platform. MICRE shall not be liable for any loss May suffer as a result of the loans made.
Personal Area
Access
Access to the personal area is through the website www.Micre.pt or, for some Associates if they so wish, through a mobile application to be developed by MICRE for this purpose.
To access your personal area, the User must confirm his / her identity by entering the registered e-mail address and the respective password provided for this purpose.
The User must ensure that he keeps his password in a safe place in order to ensure that third parties do not operate on his behalf. Access to the MICRE CROWD LEND platform must be personal and individual, and you must not share your password or any other information that may allow access to the MICRE CROWD LEND platform by third parties. The User must inform MICRE immediately if he / she believes that someone has knowledge of his / her password (or any other codes that protect access to the user's personal area). MICRE will do everything reasonably possible to prevent unauthorized access, but can not be held liable for any improper access to the MICRE CROWD LEND platform.
Correct access to the personal area determines to MICRE that access has been carried out by the User, who is responsible for the orders made, unless a communication has been sent in a timely manner to MICRE to account for the illegitimate use of the area User's personal information.
MICRE may refuse to act on the orders of the User, justifiably, if it considers: (i) that they are not clear; (Ii) which are not provided by the person himself; (Iii) that could lead MICRE to violate any law or regulation; (Iv) that the MICRE CROWD LEND platform is being used for unlawful purposes.
Use
The use of the MICRE CROWD LEND platform, namely the granting, acquisition, assignment or solicitation of a loan, will be carried out, by the Associates, through its personal area.
Borrow funds
The Supporter may grant loans through bank transfer and in future in the MICRE CROWD LEND platform accessing the area of Available in your personal area. Before submitting your proposal, in any of the financing requests on the MICRE CROWD LEND platform, the Support Agent must upload his Payment Account with a minimum value of € 50.00, which allows him to make proposals to the requests that are In the phase of raising supporters.
Charging of the Support Account of Payments is made by bank transfer, so that, whenever you understand, charge or recharge your account.
All payments, transfer and receipt of funds and collections will be carried out by the Partner Banks and in the future by MICRE PAGAMENTOS (to be set up), a payment institution authorized and supervised by the Bank of Portugal.
The supporter, having analyzed the information provided by the promoter and knowing the conditions of the markets, makes an offer to the promoter that consists in specifying the amount to be lent.
When submitting the proposal, for it to be presented, Apoainte will have to explicitly accept the terms and conditions of the loan agreement, the draft of which is provided by the MICRE CROWD LEND platform before making the offer.
The Supporter can make offers up to a maximum value of € 2,495.00 and a minimum value of € 50.00 per request for financing. Supporter can make multiple offers to make up the maximum amount. The minimum amount of an offer is € 20.00.
Supporter may have multiple funding offers pending and accepted by each promoter. The amount offered by the Sponsor under the loan proposal presented to the promoter and has not yet been answered is unavailable for other offers or for other moves and the amounts will be held in the Supporter Account. The Promoter may cancel or change his offer until such time as it is accepted by the promoter. The Advocate will not be asked to confirm his loan offer at the time it is accepted by the promoter.
Amounts offered by the Sponsor under an application for funding that have been accepted by the promoter may not be used by the Sponsor for other offers or other motions.
When an offer is accepted by the promoter and if it is entered into in a loan agreement, the Advocate will receive, through electronic mail, a proof of the transaction, namely the mutual agreement (to which he has previously had access and with which he has already agreed) and Amortization schedule. The total amount of the financing contracted with the promoter, which includes the amount belonging to the Individual Sponsor, will be made available to the promoter at the time under the terms of the Loan Agreement.
It is a fact expressly accepted by the Supporters and promoters who, under the terms of the Civil Code is not required, for the signing of loan agreements of less than € 2,500.00, the use of written form. In this sense, the electronic confirmation of the subscription of the loan agreements by the Sponsor and the promoter will record the manifestation of will.
Borrow funds
The Supporter may grant loans through bank transfer and in future in the MICRE CROWD LEND platform accessing the area of Available in your personal area. Before submitting your proposal, in any of the financing requests on the MICRE CROWD LEND platform, the Support Agent must upload his Payment Account with a minimum value of € 50.00, which allows him to make proposals to the requests that are In the phase of raising supporters.
Charging of the Support Account of Payments is made by bank transfer, so that, whenever you understand, charge or recharge your account.
All payments, transfer and receipt of funds and collections will be carried out by the Partner Banks and in the future by MICRE PAGAMENTOS (to be set up), a payment institution authorized and supervised by the Bank of Portugal.
The supporter, having analyzed the information provided by the promoter and knowing the conditions of the markets, makes an offer to the promoter that consists in specifying the amount to be lent.
At the time of submitting the proposal, for it to be presented, Apoainte will have to explicitly accept the terms and conditions of the loan agreement, the draft of which is available through the MICRE CROWD LEND platform before making the offer.
The Supporter can make offers up to a maximum value of € 2,495.00 and a minimum value of € 50.00 per request for financing. Supporter can make multiple offers to make up the maximum amount. The minimum amount of an offer is € 20.00.
Supporter may have multiple funding offers pending and accepted by each promoter. The amount offered by the Sponsor under the loan proposal presented to the promoter and has not yet been answered is unavailable for other offers or for other moves and the amounts will be held in the Supporter Account. The Promoter may cancel or change his offer until such time as it is accepted by the promoter. The Advocate will not be asked to confirm his loan offer at the time it is accepted by the promoter.
Amounts offered by the Sponsor under an application for funding that have been accepted by the promoter may not be used by the Sponsor for other offers or other motions.
When an offer is accepted by the promoter and if it is entered into in a loan agreement, the Advocate will receive, through electronic mail, a proof of the transaction, namely the mutual agreement (to which he has previously had access and with which he has already agreed) and Amortization schedule. The total amount of the financing contracted with the promoter, which includes the amount belonging to the Individual Sponsor, will be made available to the promoter at the time under the terms of the Loan Agreement.
It is a fact expressly accepted by the Supporters and promoters who, under the terms of the Civil Code is not required, for the signing of loan agreements of less than € 2,500.00, the use of written form. In this sense, the electronic confirmation of the subscription of the loan agreements by the Sponsor and the promoter will record the manifestation of will.
The Sponsor expressly declares that it consents to MICRE acting on its behalf in the fulfillment of the loan agreements that it will enter into through the MICRE CROWD LEND platform, including in eventual judicial and / or extrajudicial procedures for the recovery of credits, such as agreements Of joint restructuring with other creditors or in Assemblies of Creditors of promoters in Insolvency or Insolvency. This may imply, and only if it is in the best interest of the Supporter, that MICRE modify and / or restructure the loan agreement entered into with the promoter with the objective of recovering the maximum amount of capital belonging to the Apoyer in the shortest time possible. However, MICRE accepts no responsibility for the loan recovery process, even after making modifications and / or restructurings to the Agreement, made in the best interest of the Advocate in mind. Supporter expressly accepts that any loss resulting from a loan granted, even after a recovery process, will be entirely his responsibility. Any modification and / or restructuring requested by MICRE will be duly communicated to the Sponsor with a minimum term of 1 week.
Acquisition and assignment of contractual position
MICRE provides the Supporters with an assignment market where Supporters can acquire and / or assign contractual positions in ongoing loans that have been made through MICRE.
All acquisitions and / or assignments of contractual positions are governed by the assignment agreement typified and made available to the parties at the time of confirmation of the transaction. The assignment agreement is entered into by electronic means, through Micre and with its approval, equivalent to the computer acceptance of the content of the contract and the declarations of intent of the parties to be contracted, for all applicable legal purposes.
All acquisitions and assignments of contractual positions are made at the nominal value of the loan in question. The nominal value used in the acquisition and assignment of a contractual position corresponds to the value of the missing capital at the date of the transaction and does not include any amount relating to future and unpaid rewards, even if due at the date of the transaction.
In addition, and in order to safeguard the stability and sustainability of the assignment market, a loan may only be loaned to other Supporters if:
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Do not be late or recover;
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You have not been behind in the last 3 installments;
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Has a residual maturity of more than 2 installments;
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Do not have to pay a benefit in the next 7 days;
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The acquisition of a contractual position is equivalent, for all legal purposes, to the assumption of all risks inherent to the underlying contract.
The existence of an assignment market does not guarantee the possibility of assigning the loans in progress. In addition to the current operating rules, acquisitions and assignments of loans in progress are necessarily dependent on the existence of buyers and sellers for the same loan.
Micre is not responsible for the acquisition or assignment of contractual positions between Supporters.
Borrowing
All loans made through MICRE are loan agreements with real estate mortgages that have the following characteristics:
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They are fixed rate loans of MAX (3% or EURIBOR)
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They have fixed monthly installments;
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They can go up to € 2,500,000 with a minimum of € 50,000;
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They have a maturity of 60, 120 or 180 or 240 months;
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The fixed installment is determined as the monthly installment which, for a reward, makes the future monthly payments equivalent to receiving the loan amount today. MICRE uses the counting method of 30/360 days. The formula used is as follows:
$$ Provision = Investment \ rate (1 + rate) ^ n \ over (1 + rate) ^ n - 1} $$
To obtain financing, the developer submits a request for financing in his personal area indicating amount, term and answering to 4 questions: description of the promoter, description of the project, description of the property and description of the financing and rewards.
Applications for financing submitted by the Promoter are available on the MICRE market for a maximum period of 180 days or until the entire amount requested is accepted by the Promoter.
MICRE is not responsible for any losses that the Supporters may suffer as a result of loans made through the MICRE CROWD LEND platform.
During operations to be carried out through the Platform, Associates have access to total charges and other associated amounts.
The indicative rates in force shall be the rates that are presented by the MICRO CROWD LEND platform specifically in the personal area of the Associates, when executing an order referring to a request for financing or a loan offer.
The effective funding rate will depend exclusively on the interaction between the various partners during the funding request period. The calculation of the effective rate of the set of loan agreements entered into is carried out by MICRE through the aggregation of all accepted offers.
Before requesting a loan, the Promoter enters into a mortgage agreement in favor of MICRE. MICRE does not accept any additional liability beyond the value of the mortgage.
The MICRE CROWD LEND platform will notify, but does not accept any obligation to do so, the Promoter by email as it receives financing offers.
It is the Promoter's responsibility to regularly access his personal area in order to manage his application for funding.
As soon as an individual offer from a Supporting Member is accepted, the Parties agree to enter into the definite loan agreement, and their effective conclusion shall be conditional upon obtaining all of the intended financing. It is not possible to change the conditions of the financing request after making it available in the market, but you can cancel an application for financing in the market until the end of it, when all the amounts that are captive to that financing will be made available again To the Supporters. Amounts offered by the Sponsor under an application for funding that have been accepted can not be used And remain captive in the Payments Account
The sponsor can only receive funding After successfully completing its application for financing, that is to say only after collecting the entire amount proposed and having complied with all contractual and legal provisions in force. It is not possible to change the terms of the financing request after it has been made available on the market.
When it obtains the entire financing, MICRE sends all necessary documentation to the members for its registration.
MICRE shall not be liable for any damages or losses that may occur to members making a successful or unsuccessful request for funding through the MICRE CROWD LEND platform, including loss of project, customer or any other related situation. MICRE does not guarantee that all applications will be funded.
Execution of Mutual Agreements
The MICRO CROWD LEND works as an aggregator of orders from associates regarding the conclusion of loan agreements. MICRE will keep a record of the movement of orders. In addition, MICRE will be the depository of all documentation and all information provided in connection with the conclusion of the mortgage contracts
Loan payments are made in installment format on a monthly basis and in accordance with the respective repayment schedule in force on each contract. Payments include a capital and reward component. The rewards are net of taxes, retained by the developer at source at the rate in effect.
In the performance of the contract, the promoter must, if he fails to pay a portion of the loan, or if he is in financial difficulties and considers that he may have to stop paying the amounts due, directly contact MICRE.
The delay or lack of payment for Will have a pro-rata effect (taking into account the respective rates for each tranche of the loan) in the settlement of the loans granted.
Members agree that MICRE shall establish all necessary relationships with entities in a group relationship or with partner / third parties in order to ensure the proper execution, management and operation of the loan agreements, the MICRE CROWD LEND platform and related operations.
Processing payments, transfers and collections of funds
All payments, transfer and receipt of funds and collections are provided by the Partner Banks and, in the future, by MICRE PAGAMENTOS, a payment institution that will be created, authorized and supervised by the Bank of Portugal.
The use of the MICRE CROWD LEND platform requires the opening by the Client of a Payment Account with the Partner Banks or the MICRE PAGAMENTOS. Failure to open a Payments Account precludes the use of the MICRE CROWD LEND platform by the Customer or User.
Recovery
In the event of non-payment by its respective obligation relating to a loan entered into through the MICRE CROWD LEND platform, MICRE will endeavor to manage the entire recovery process on behalf of the Supporters seeking to recover the maximum amount of the outstanding amounts.
Promoters in default or at risk will be closely monitored by MICRE and, if necessary / justifiable, by specialized recovery offices which, together with MICRE, will seek to recover the maximum value of the amounts owed through restructuring or procedures Judicial and / or extrajudicial. Promoters with delinquent or non-performing benefits under the loan agreement entered into with Supporters will still be subject to default interest and may lose access to the MICRE CROWD LEND platform for future financing. All costs and expenses related to the recovery process will be borne directly by the Promoter.
The Sponsor expressly declares that it will allow MICRE to act on its behalf in the fulfillment of the loan agreements that it will enter into through the MICRE CROWD LEND platform, including any restructuring procedures or judicial and / or extrajudicial procedures for the recovery of credits , Such as restructuring agreements or Creditors' Assemblies In Insolvency or Insolvency. Thus, in the event of breach of contract, and in case it is not possible to recover any missing amounts, MICRE will initiate a recovery procedure against the promoter representing the members. In this context, MICRE will analyze the amount of debt that is expected to be recovered through various options, including restructuring, judicial and / or extrajudicial proceedings, in order to maximize the recoverable amount. If there is evidence of sufficient assets to make it possible to recover all or part of the amounts owed, MICRE will instruct its attorneys / solicitors to take legal action to recover the total amount owed. In order for this to happen, it will be necessary for the Apoyer to assign its position as lender to MICRE in the loan agreement entered into, so that there is only 1 Applicant / Author of the lawsuit. The Advocate will have 5 days to prevent this assignment if he decides to proceed with the legal process personally and separately. All amounts recovered under this action will be distributed proportionally by the Supporters, less any legal costs incurred by MICRE and not covered by the promoter. MICRE will always act fairly and in the best interest of the Supporters with the objective of recovering the maximum capital in the shortest time possible. This may mean that MICRE will modify and / or restructure the loan agreement entered into.
MICRE accepts no responsibility for the process of recovering a loan, even after legal and / or extrajudicial action and / or modifications and / or restructurings to the Agreement, made in the best interest of the Advocate in mind. The Supporter expressly accepts that any loss resulting from a loan granted, even after a recovery process, a legal and / or extrajudicial action and / or a modification and / or restructuring, will be entirely his responsibility. Any modification and / or restructuring carried out by MICRE will be duly notified to the Sponsor within 2 weeks.
MICRE assumes no responsibility for repayment of the loan, reward payment or recovery process in the event of default or default. The capital of Supporter lent to promoters is guaranteed up to the amount of the mortgages made in favor of MICRE, and in favor of each campaign individually considered, and taking into account the conditions of sale in the real estate market for foreclosure.
Quotes and Jewels MICRE
MICRE Charge a Annual fee to promoters always and only when they obtain funding through the MICRE CROWD LEND platform. The annual value of the base commission is 1 EUR The admission fee of adhesion for promoters is 2% of the project if approved
The value of the fee and admission fee is paid at the time of obtaining the loan.
Supporters are exempt from admission fee and pay an annual fee of 1 euro.
MICRE reserves the right to waive or reduce membership fees and admission fee. The Partner Banks and MICRE Payments also reserve the right to change commissions and costs at any time, and to do so in a timely manner to inform their Members, and without ever imposing costs with retroactive effect.
Account closure
Clients may, through geral@micre.org, request the closure of their MICRE account, which can be done at any time. The account will be closed within 5 business days if the User does not have any associated loans.
Taxation
All monetary rewards received through the platform are subject to withholding tax at the legal rate in force at the time they are earned, to be made by the promoters. That is, the promoter accepts that each month are retained in the source by themselves the taxes owed by the Supporter, which means that the Supporter receives monthly reward net of taxes.
If Apoiopretender includes these revenues, you will have to communicate this request to MICRE within the legally established deadlines so that it can manage the process and deliver all necessary documentation.
MICRE shall not be liable for any type of failure or fiscal default by members that may result in damages, losses or damages to them. In case of doubt, Members should seek independent advice.
Changes to the General Conditions
MICRE reserves the right to change the General Conditions, if any of the following events, among others, occur:
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Feedback from Members;
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Changes to the operational and technological model;
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Changes required by third party service providers;
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Technical improvements to be carried out on the MICRE CROWD LEND platform;
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Changes to market practices;
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Force majeure or state of necessity;
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Legislative and regulatory changes;
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Judicial imposition.
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The changes to the General Conditions Will be communicated to the members.
Treatment of personal data
The MICRE Privacy Policy contains all information about the processing of personal data by MICRE, and the privacy protection policy applied. The reading and acceptance of the General Conditions does not exempt the reading and acceptance of the Privacy Policy that must also be done before starting to use the MICRE CROWD LEND platform.
MICRE may require its Members to provide proof of identity for purposes of identity verification, verification of fulfillment of participation requirements or to comply with any other legal or regulatory purposes.
The use of the MICRE CROWD LEND platform assumes acceptance of the GENERAL CONDITIONS and the privacy policy of the MICRE CROWD LEND platform. The MICRE team reserves the right to change the General Conditions and Privacy Policy without notice, making the respective communication to its Customers.
Information provided by the MICRE CROWD LEND platform
The information and documentation made available on the MICRE CROWD LEND platform ("MICRE Information") is the property of MICRE and / or the entities that provide information and collaborate with MICRE.
The user of the MICRE CROWD LEND platform:
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You may keep MICRE Information in electronic form on your computer, provided that it is used only for purposes strictly related to the MICRE CROWD LEND platform;
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You may not reproduce, modify or otherwise use the MICRE Information. In this regard, in particular, but without limitation, the User does not have the right, without prior written consent of MICRE:
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Redistribute MICRE information in whole or in part;
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Remove or use a copyright, trademark, logo or other notice made available through the MICRE CROWD LEND platform;
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Create a database, in electronic or physical format, in which you download and store information available on the MICRE CROWD LEND platform.
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Any use of the MICRE Information by the Members, in contrast to the provisions of the General Conditions and the scope of the activity to be carried out on the MICRE CROWD LEND platform, will enable MICRE to unilaterally carry out the closure of its account Or suspension / blocking of User access to your personal area.
MICRE will use maximum skill and care in providing information to you. Due to the large number of third-party sources from which MICRE obtains the information and the nature of the distribution of data through the Internet, MICRE can not guarantee or declare that:
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MICRE Information is intact, complete, accurate, current or error-free.
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The MICRE CROWD LEND platform is free of viruses and that its operation is continuous, uninterrupted or error-free.
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Information distributed through the MICRO CROWD LEND platform may include judgments on credit or results of simulation tools (including loan simulators intended to enable the User to test and evaluate different scenarios). MICRE Information can not be considered as a guarantee of verification of a particular result. Such information does not represent a form of advice, recommendation or endorsement by MICRE, and is not intended as a form of trust and / or the sole basis for the member to make any contracting decision.
The MICRE CROWD LEND platform may contain links to other internet sites as well as telephone numbers of services provided by third parties. The availability of such sites, services or materials does not constitute any form of recommendation, suggestion, commitment or publicity thereof.
Members shall be solely responsible for any damages resulting to their computer system or any loss of data resulting from the download of MICRE Information.
Responsibility of MICRE
The activity of MICRE, in its relationship with the Associates and in the management of the MICRE CROWD LEND platform shall be governed by the principles of transparency and good faith, and shall be bound by, additionally:
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Act in a fair, reasonable and responsible manner in the relationship with the Associates;
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Do not discriminate on the basis of race, gender, disability, ethnicity, religion, political beliefs or sexual orientation; and
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Correct the mistakes, promptly handle the adjustments and refunds required and deal with the problems within a reasonable time frame.
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The limitations on liability of MICRE are those set forth in these Terms and Conditions and Privacy Policy.
Miscellaneous Provisions
If any provision contained in these General Conditions is held to be invalid or unenforceable, this shall not affect the validity or enforceability of the remaining provisions.
The User acknowledges that all documents and orders that are delivered and signed electronically in the personal area or sent by electronic mail through his previously registered address correspond to his free and conscious will.
Communications between the MICRE CROWD LEND platform and the User will be carried out through electronic mail and / or through notifications in your personal area or communications in public areas of the website.
The data stored on the MICRE CROWD LEND platform will be conclusive in reference to the facts and issues on which they are maintained, with particular reference to the identification of Members in the context of a lending litigation, and more generally the identification of the parties ( Supporters and promoters) of the loans and the number, type and characteristics of the loan agreements entered into by them.
The present General Conditions, written in Portuguese language, as well as the relations between MICRE and the Associates in this scope are subject to the Portuguese Law.
The currency used in the MICRE CROWD LEND platform is the Euro.
Contacts and complaints
Members may contact MICRE directly to ask questions, clarify procedures or make a complaint, at any time by calling geral@micre.org. We also recommend consulting our frequently asked questions.