Chapter 1: Definitions
Call sign of the internet platform www.growfunding.be and all other related activities
Growfunding vzw is the initiator of growfunding with head office in Brussels at Leopold II Laan 276, 1081 Brussels, company registration number BE 657.921.306
The initiative that will be launched via growfunding for a predetermined term with a view to raising sufficient funds to realise a particular project
Joint name for every natural or legal person who makes use of growfunding. A user is:
- a visitor who goes onto www.growfunding.be without having registered with their own account
- a follower who has their own account registered at www.growfunding.be allowing them to follow a project
- a growfunder who has registered with their own account on www.growfunding.be and wishes to support a project, is supporting or has already supported with a financial contribution
- a project holder who has registered their own account on www.growfunding.be and thus wishes to launch a project, is launching one or has already launched one
The totality of the related activities that the platform holder is responsible for to growfunding including management, maintenance and follow-up of the internet platform www.growfunding.be, users’ support, financial transactions and all services that are linked to the activities
Chapter 2: Summary
The summary below is an introduction to how growfunding works. Each user is supposed to acquaint themselves with the General Conditions before using growfunding.
art 2.1 Area of application
Growfunding administers the website www.growfunding.be. The user agrees with the General Conditions of growfunding as soon as they make a connection with and/or has successfully registered with their own account via:
At any given moment and without prior notice the platform holder can modify the General Conditions as well as the composition of the website. The modifications are not retroactive but are applicable immediately.
The most recent update dates from 25 march 2015.
art 2.2 Growfunding
Growfunding is an innovative form of crowdfunding whereby any user of growfunding can consult, launch, follow and/or support projects. It is the user’s decision and their own responsibility as to whether they wish to follow and/or support a project with a financial contribution. It is also the project holder’s decision and his own responsibility whether he wishes to launch a project (read go online) and is also ultimately responsible for the contents and execution of the project.
art 2.3 Successful project / Unsuccessful project
A successful project is one that, once it is online, has at least reached 100% of the predetermined financial objective [target figure] on the predetermined date [target date]. In the event of a successful project:
- the platform holder transfers 90% of the figure reached to the account number of the project holder
- 10% of the donations to the succeeded projects are a donation to vzw growfunding. There is no return for this gift.
- In the event a project reaches more than 100% of the financial objective on the predetermined date [target date], the same regulation as above is applicable.
An unsuccessful project is one that, once it is online, has not reached its predetermined financial objective (target amount) by the predetermined date (target date). In the event of an unsuccessful project:
- the platform holder refunds the contribution to the account number of the growfunder, excluding the previously deducted (at the time when the contribution was made) once-only financial transaction cost of 1 euro
- the platform holder does not charge any costs to the project holder
art 2.4 Payments
Users who wish to transmit a financial contribution are automatically transferred to Mangopay, the external supplier, which handles the online secured payments. The platform holder cannot be held accountable for potential problems with the service of Mangopay.
The financial contributions are then transferred to a eWalet of Mangopay. Pending the through payment to the project holder or the refund to the growfunder, the platform holder blocks the contributions until the target date has expired:
- in the event of a successful project, the platform holder transfers the amount owed to the account number of the project holder within 30 days after the target date has elapsed on condition that the project holder has drawn up a Reward plan approved by the platform holder (see ART 5.7 Reward plan)
- in the event of an unsuccessful project, the platform holder refunds the amount owed to the growfunders account number within 30 days after the elapsed target date
art 2.5 Liability
The platform holder is responsible for the accuracy of www.growfunding.be. He cannot be held responsible should the contents be incomplete or incorrect. The platform holder commits himself to correct incomplete or incorrect content as quickly as possible as soon as he has received a notification on firstname.lastname@example.org. The platform holder cannot be held liable for direct or indirect damage that stems from the use of or from downloading files on www.growfunding.be. Possible breakdowns or interruptions resulting in it being impossible to visit and/or use www.growfunding.be do not give any right to compensation. Should www.growfunding.be refer to other websites, the platform holder has no control over and cannot be held liable for the nature, completeness and accuracy of the websites.
art 2.6 Contact
For any questions about or opinions on the General Conditions, the user should go to email@example.com.
Chapter 3: Registering with an account
art 3.1 User
Both natural persons as well as legal persons can register either with their own growfunding account or with their Facebook account on www.growfunding.be and in that way follow and/or support a project:
- when the user is a natural person, they have an official address in Belgium and are at least 18 years old.
- In the event the user is a legal person, their head office must be in Belgium.
art 3.2 Account
The user registers with their own account, conforming to the guidelines on www.growfunding.be. In registering, the user confirms they are conducting business in their own name. The user can at any given moment terminate their account via a written request to the platform holder: per email to firstname.lastname@example.org or by letter to the address above, with a copy of their identity card in annex and mentioning ‘growfunding - termination account’. The platform holder will terminate the account not later than within 30 days. The user is responsible for seeing that all the details that they provide to the platform holder are correct and complete; (identity, address, e-mail address, account number, …). The user agrees to notify the platform holder immediately of any modification to the details provided. In the event of doubt or misuse, the platform holder can deny the user, either provisionally or permanently, the community service provided by deleting their account.
art 3.3 Users’ details and password
The user agrees not to make public the user data (login) and the password of their account and not to grant third parties access to www.growfunding.be via their own account. The user remains liable in the event third parties should make use of their account up until such time as they notify the platform holder of the matter in writing. The platform holder cannot be held responsible for the consequences of the unlawful use of the user’s details or password.
art 3.4 Protection of privacy
The platform holder will only provide a user’s details to the project holder whose project the user wishes to follow and/or support.
art 3.5 Copyright and rights of ownership
The user retains their copyrights and other intellectual rights of ownership to their files, data and/or other materials that they make available on, or uploads onto, www.growfunding.be. The user agrees to grant the platform holder a free, unencumbered, worldwide, non-exclusive licence to:
- use the files, data and/or materials, to multiply them, to distribute them and to make them public on www.growfunding.be
- use the files, data and/or materials, to multiply them (and to allow third parties to use them and to multiply them) in whichever media they choose to make known growfunding
The user agrees that the platform holder
- can remove the files, data and/or materials on www.growfunding.be for whatever reason without the platform holder being liable to the user or third parties
art 3.6 Misuse
The user agrees not to make available (read upload) files, data and/or materials on www.growfunding.be that:
- are based on falsehoods or are misleading
- infringe on rights of third parties, including copyrights, neighbouring rights, brand rights or other intellectual ownership rights, or on rights relating to the protection of privacy
- are in breach of the law and/or with relevant regulations
- contain viruses, Trojan horses, worms, bots or other software that can damage or result in www.growfunding.being unusable, inaccessible or that can delete or even appropriate it
art 3.7 Non-permissible content
The platform holder has the sole authority to bar non-permissible content. The user agrees to respect the non-exhaustive enumeration of non-permissible content below:
- discriminating on the basis of appearance, race, religion, sex, culture, origin and/or content that appears offensive
- inciting or calling for violence against third parties, to pestering third parties, to exploiting of misusing third parties
- content offensive to public decency or good taste, violent content, pornographic content
- personal data
- inciting or committing illegal activities
- chain letters, junk mail or spamming
- retrieving users’ details, passwords and/or personal data for commercial or illegal use
- political, religious and charitable objectives
- commercial objectives such as advertisements, lotteries, competitions or pyramid schemes
- images of third parties with having asked their prior permission
art 3.8 Legal force agreement
By registering via one’s own account and accepting the General Conditions the user declares that he/she is entitled to use www.growfunding.be and to (now and in the future) act in accordance with the General Conditions.
Chapter 4: Supporting a project / Contributing to a project
art 4.1 Contribution, transaction cost, refunding
A contribution is the financial contribution that the user/growfunder transfers to a particular project on www.growfunding.be to support a project holder in the financing and success of his project. At the time that the user/growfunder transfers their financial contribution, growfunding automatically charges them a once-only fee of 1 euro (€ 1,00) to cover the financial transaction cost. The user/growfunder cannot simply re-claim either the transferred contribution or the financial transaction cost. In the case of an unsuccessful project – this is a project that once it is online has been unable to reach the predetermined financial objective (target amount) by the predetermined set date (target date) – the platform holder refunds the sum owing to the account number of the growfunder within 30 days following the expiration of the target date. The amount owed is the contribution minus the once-only deduction of 1 euro (€ 1,00), made at the time of the contribution.
art 4.2 Best-effort obligation
From the moment the user/growfunder transfers a financial contribution to a project, they enter into an agreement by accepting the General Conditions with the project holder without the platform holder being involved in this agreement. The agreement has the character of a best-effort obligation: the project holder commits himself to carry through the project with the sum raised and make good the promised rewards. The user/growfunder accepts that by entering into an agreement with the project holder it does not give them the right to claim any reciprocation whatsoever from the project holder.
Chapter 5: Submitting a project, launch and follow-up
art 5.1 Project holder
Both natural persons as well as legal persons can submit, launch (read: go online on www.growfunding.be) and follow-up a project via making an account on www.growfunding.be. The project holder should be either:
- a natural person, at least 18 years old, resident in Belgium and in possession of a Belgian bank account number
- a legal person with head office in Belgium and in possession of a Belgian bank account number
art 5.2 Account
The project holder should register with their own account to submit a project to growfunding, in accordance with the guidelines on www.growfunding.be. By registering, the project holder confirms they are acting in their own name. The project holder can only terminate the account with the consent of the platform holder. It is the project holder’s responsibility that all the data that he supplies to the platform holder be correct and complete (identity, address, e-mail address, account number). The project holder undertakes to immediately notify the platform holder of any modifications to the information provided. In the event of doubt or misuse, the platform holder can temporarily or permanently deny the community service provided by removing the account in question.
art 5.3 Users’ details and password
De project holder undertakes to keep secret users’ details and password from their account and not grant access to third parties to www.growfunding.be via their own account. The project holder remains liable in the event that third parties should make use of his account as long as the platform holder has not been notified in writing by the project holder. The platform holder cannot be held responsible for the consequences from unlawful use of users’ details and/or the project holder’s password.
art 5.4 Submitting and launching
The platform holder (and only he) decides whether or not to launch (place online) a project submitted by the project holder on www.growfunding.be. Before launching it, the platform holder judges the submitted project on the following cumulative criteria:
- the platform holder agrees with the General Conditions
- the project meets the criteria concerning content that growfunding employs: the project is small-scale, has a feel for the Brussels urban pulse and brings about a direct relationship with the growfunders via a variety of rewards
- the project lends itself to the methodology of crowdfunding: the project is urgent, proposes a realistic and predetermined financial objective [target amount] that can be raised within a timeframe of a minimum of 30 days to a maximum of 90 days by the predetermined time [target date] via contributions
- the project holder provides the platform holder in time all the text and images in accordance with the guidelines that the platform holder provides him with beforehand.
art 5.5 Progress
Via the project page made available to him by the platform holder the project holder keeps his growfunder(s) up-to-date via www.growfunding.be on the progress of his project via:
- regular updates (with text, photos, short films, …)
- precise answers to questions from the growfunder(s)
- notification of new developments in the project
art 5.6 Successful project / Unsuccessful project
The definition of a successful project is one that, once it is online, has at least reached 100% of the predetermined financial objective [target amount] by the predetermined date (target date). In the event of a successful project:
- the platform holder transfers 90% of the target amount reached to the account number of the project holder within 30 days after the expired target date and on condition the project holder has drawn up a Reward plan approved by the platform holder (see ART 5.7 Reward plan)
10% of the donations to the succeeded projects are a donation to vzw growfunding. There is no return for this gift.
Whenever a project has reached more than the 100% of the financial objective by the predetermined date (target date) the same rule applies as above.
An unsuccessful project is one that, once it is online, has not reached its predetermined financial ojective (target amount) by the predetermined date (target date). In the event of an unsuccessful project:
- the platform holder refunds the amount owing [contribution] to the account number of the growfunder within 30 days minus the previously deducted once-only financial transaction cost (at the time of making the contribution) of 1 euro (€1.00)
- the platform holder doesn not charge any costs to the project holder
art 5.7 Reward plan
Within 30 days of the target date elapsing the project holder draws up a reward plan to be approved by the platform holder. In it, he indicates the reasonable timeframe (preferably within 6 months) in which he can make good the rewards to the growfunder as well as how he intends to communicate with the growfunder on the further progress of the project. Until the project holder has drawn up the Reward plan that must be approved by the platform holder, the amount owed to the project holder (cf. 90% of the target amount reached) remains blocked on the platform holder’s account number. When however, 12 months after the expiry of the target date, the project holder still has not drawn up the Reward plan for approval by the platform holder, the platform holder refunds the amount owed to the growfunder. The amount owed is the contribution, minus the deducted (at the time of the contribution) and once-only financial transaction cost of 1 euro (€ 1,00).
art 5.8 Best-effort obligation
From the moment the project holder submits a project to growfunding, he has entered into an agreement with the platform holder by accepting the General Conditions. The agreement takes on the character of a best-effort obligation: entering into the agreement does not give the platform holder and/or growfunder the enforceable right to any reciprocation whatsoever from the project holder. On the other hand, the project holder does his utmost to reach the target amount, to make good the promised rewards to the growfunder within a reasonable timeframe (preferably within 6 months) and to realise his project.
art 5.9 Termination
The agreement between the platform holder and project holder is terminated:
- in the event the project holder, according to the platform holder, does not respect the General Conditions
- when the target date has elapsed in the event the project has not reached the full 100% of the target amount
- when a reasonable period has elapsed (preferably within 6 months) in which the project holder should have made good his rewards (see ART 5.7 Reward plan) in the event of the project not having reached the full 100% or more
Chapter 6: Community service platform holder
art 6.1 best-effort obligation
By mutually accepting the General Conditions the user/growfunder and project holder enter into a best-effort obligation without the platform holder being involved in this agreement.
art 6.2 Liability community service
The platform holder is not held responsible for the way in which use is made of the community service provided by him. Visitor, user/growfunder, project holder or others will safeguard the platform holder and keep him safeguarded from claims by third parties concerning files, data and/or materials that the platform holder makes available on www.growfunding.be. The platform holder is not responsible for the relationship between project holder and user/growfunder and has an extremely limited control on the quality, security, legitimacy, integrity or accuracy of how the project holder and user/growfunder observe their rights and duties. The platform holder ensures that the composition of www.growfunding.be is as precise as possible. He cannot be held responsible should the content however be incomplete or inaccurate. The platform holder undertakes to correct incomplete or inaccurate content as quickly as possible from the moment he receives notification on email@example.com. In the event the platform holder is still responsible as a result of a shortcoming, liability is limited to the direct damage that is immediately related to the shortcoming.
art 6.3 Liability website
The platform holder does not guarantee that www.growfunding.be is accessible at all times. Possible failures or interruptions resulting in it being impossible to visit and/or to use www.growfunding.be, does not give any right to compensation. The platform holder is not responsible for damage resulting from www.growfunding.be not functioning sufficiently well unless there is evidence of gross negligence on the part of the platform holder. The platform holder can, without giving a valid reason and without prior warning, (temporarily) place www.growfunding.be offline, limit its accessibility and/or suspend the community service (temporarily) without the platform holder being held responsible in the event of a claim for compensation. The platform holder is not responsible for direct or indirect damage that stems from the use and/or downloading of files on www.growfunding.be. The platform holder can on www.growfunding.be via hyperlinks, banners, buttons,… refer to websites of third parties without being held responsible for the content and policy of said websites.
art 6.4 Infringements, violations, breaches
It is the exclusive competence of the platform holder to assess whether the user:
- respects the General Conditions
- is in danger of damaging either themselves, third parties and/or www.growfunding.be
- can be sufficiently verified or identified
In the event the platform holder has established that infringements have been made he can, without being held responsible as regards the user:
- limit activities
- temporarily or permanently terminate, remove and/or remove the account permanently
- remove files, data and/or materials
- make known an activity
- issue a warning
- suspend or terminate the community service
art 6.6 Applicable law
Belgian law is applicable to these General Conditions. All disputes that could arise from this agreement will be laid before the competent judge in Brussels.