Terms and conditions of use
Welcome to INVEST LATAM, a channel developed and operated by INVEST LATAM SAS (hereinafter the "INVEST LATAM", "we" or "our") society legally constituted under Colombian law.
We recommend that you read carefully and carefully these Terms and Conditions of Use, because together with the Data Processing Policies, the Legal Agreement of Investors or Legal Agreement of Borrowers, governs the access and use of this website, its services, content and the use of the platform. If you do not agree with all or part of these Terms and Conditions we suggest that you immediately abandon this website (hereinafter the Site) and not access the content and services (hereinafter Services) thereof.
I. Provisions applicable to all Users
Legal Agreement: Contract accepted by the Member to participate, access and use this Site or its Services as a Borrower or Investor, and to participate in the respective Platform . The Legal Agreement governs the relationship between the Member and INVEST LATAM, during the time that the User makes use of this Site or its Services, in such quality.
Commission: Value that the Borrower must pay to INVEST LATAM for providing the channel to access Investors interested in lending resources for the Financing Project of the former. The value of the commission will be calculated on a percentage of the total volume of resources borrowed by the Borrower. (See numeral 19.10)
Loan conditions: Specifically refers to the amount, interest rate, term and guarantee to which the borrower seeks loans or resources for its financing project, and the investor is willing to provide.
Password: Secret series of characters defined by the User to access the account he has created on the Site as a Member.
Disbursement: Delivery of resources on loan from the Investor to the Borrower, in accordance with the conditions of the offer made on the Platform by the first and accepted by the latter.
Legal Documents: Includes the Terms and Conditions of use, the Data Processing Policy, the Investor Legal Agreement, the Borrower Legal Agreement , and all other documents prepared by INVEST LATAM and made available to Users, in connection with the Site and the Services .
Guarantee: Good or active that the Borrower offers to tax to support the payment of the loan.
Non- payment: Non-fulfillment of the payment of the obligations borne by the Borrower.
Interest Rate : Rate to which the Borrower requests in Loan the resources and to which the Investor is willing to lend.
Borrower: Legal person registered as a Member who accesses the Site or makes use of the Services in search of financing, by way of loan. Unless there is a different precision, it is understood that the term Borrower includes its Legal Representatives, Shareholders and officials or employees.
Investor: Natural or legal person registered as a Member who accesses the Site or makes use of the Services to lend resources to the Borrower.
Trademarks: Distinctive sign duly registered with the intellectual property authority.
Member: Registered user to access certain Services that require it, and to participate in the Platform as a Borrower or Investor .
Amount: Amount of money, expressed in Colombian pesos (COP), object of the loan requested and / or granted by the respective Member.
Desired amount: Amount that Borrowers want to borrow through the Platform for the Financing Project.
Mora: Delay in the timely fulfillment of the payment of the obligations borne by the Borrower.
Username: String of characters that are used as a nickname or access name to access the account.
Offers: Unilateral and irrevocable declaration of will made by the Investor in the Platform, by means of which the Borrower agrees to loan resources under certain conditions.
Firm offer : The offer will be firm once it has been entered into the Platform, which means that it can not be canceled or revoked.
Offer accepted: It is the firm offer accepted by the Borrower.
Offer rejected: It is the firm offer that is rejected by the Borrower. The rejection of an offer does not generate any penalty or cost borne by the Borrower or INVEST LATAM.
Platform: System arranged on the Site that allows the interaction of the Members through the publication of Financing Projects by the Borrowers, and the entrance of offers by the Investors, so that they in turn are accepted or rejected by the Borrowers .
Term: Time or term determined for the Borrower to pay the respective loan granted by the Investor.
Loan: Operation under which an Investor gives resources to a Borrower, who in turn undertakes to return them to the Borrower within a certain time frame.
Financing Project: This is understood as the object for which the Borrower seeks borrowed resources, through the Platform.
Personal Data Processing Policy: Document that establishes the guidelines for the treatment of personal data by INVEST LATAM.
Site: Refers to the Website under which the INVEST LATAM Platform operates and whose URL is www.investlatam.com
Services: Refers to the services available to Users and Members , through the Site, including the Platform through which Borrowers and Investors participate in the application and the granting of loan resources.
User: Any person, natural or legal, who accesses, navigates or makes use of this Site or the Services, regardless of whether or not it is registered as a Member.
By accessing or using this Site, including any of its subdomains, the User declares that they have read, understood and fully accepted these Terms and Conditions, regardless of whether or not they register as a Member to access the services of this Site.
Please note that, in addition to these Terms and Conditions, it may be necessary for the User to read and accept other policies or conditions that govern specific aspects of the use of this Site (see Personal Data Processing Policy) and that it concludes with INVEST LATAM other specific agreements according to the service you want to access (Legal Agreement). These Legal Documents will be interpreted and applied as much as possible jointly; however, if there is any contradiction between these Terms and Conditions and the specific Policies or Agreements, these will be the latter, that is, the specific Policies and Agreements,
3. Modifications to these Terms and Conditions
These Terms and Conditions may be modified andat any time, of which the user will be informed by means of a notice on the Site or through a message sent to the email registered by the User when registering as a Member. The modifications will be effective from the date indicated in the corresponding notice or mail, and in the absence of such indication on the date on which the new Terms and Conditions are published, for which we invite you to periodically review these . It is understood that the User has accepted the new Terms and Conditions if after its entry into force continues to use this Site or the Services.
4. Validity of these Terms and Conditions
These Terms and Conditions, without prejudice to the modifications, will be in force during the time that this Site is in operation, and will be binding for Users while making use of this Site or the Services.
INVEST LATAM reserves the right to suspend or terminate the operation of the Site and / or the Services, which will endeavor not to affect the Members who have pending offers, who in any case will be informed in advance of this decision, as well as the Users . Likewise, INVEST LATAM reserves the right to limit or suspend the access of a specific User or to close the account of a Member when they incur a breach of these Terms and Conditions or of any other Legal Document. In any case, after limiting or suspending access to the Site, Services or closing an account,
5. Declarations of access to the Site
This Site has been designed for Users natural persons over 18 years of age and Borrowers who are legally and contractually bound.
Individuals who access this Site or make use of the Services or register as Investors declare and guarantee that they are of legal age under Colombian legislation, that is, they are 18 years of age or older, and therefore they are able to link to these Terms and Conditions, as well as to the other specific Policies and Agreements, as the case may be.
If the User accesses this Site or uses the Services on behalf of a company or organization, he / she expresses and guarantees that: (i) he / she has sufficient legal authority to bind that company or organization to these Terms and Conditions, and ( ii) that you effectively accept these Terms and Conditions on behalf of the respective company or organization. If the User does not have such authorization please refrain immediately from accessing this Site or using the Services on behalf of the respective company or organization. In any case,
If the User accesses or makes use of this Site or the Services in violation of these conditions, INVEST LATAM may limit or suspend your access to the Site or, if applicable, close your account immediately. Additionally, the User must indemnify INVEST LATAM for the damages, damages, losses, expenses, or sanctions incurred in case of breach of these access conditions.
6. Content and changes on the Site
INVEST LATAM does not guarantee that the Contents of the Site and the services provided through it are appropriate outside of Colombia, therefore, if the User accesses this Site from outside of Colombia, it declares that it understands and accepts that the access and use of the Site is under its responsibility and that does not violate any law or specific rule of its jurisdiction.
INVEST LATAM reserves the right to change, adjust or withdraw any functionality or content of the Site. The material changes and any substantial changes will be informed by INVEST LATAM on the Site or by the email that the User registered when he registered as a Member.
7. Access to the network and devices
The User is responsible for obtaining access to the data network that is necessary to access the Site or the Services. Please note that if you access the Site from a mobile device, your network operator may apply rates and fees for the data you use for that purpose.
The operation of the Site or the Services may be subject to malfunctions or delays inherent in the use of the Internet and electronic communications.
The User is responsible for acquiring and updating the compatible hardware or the necessary devices to access and use the Site and the Services and any update thereof. INVEST LATAM does not guarantee that the Services will work on any device.
INVEST LATAM is not responsible for losses, delays, expenses, damages or injuries that the User may suffer due to deficiencies or failures of the Internet, electronic communications, hardware and in general the use, arrangement or update of any equipment employee to access the Site or the Services.
8. Intellectual Property
8.1. All the content of the Site, including and without limitation to text, graphics, data, format, designs, photographs, music, sounds, images, software, videos, fonts and source code, are property of INVEST LATAM or are used by this one with permission of the owners. Likewise, the content may consist of public information that is governed by the laws of access to Colombian public information and / or free of copyright in accordance with the regulations applicable in this country.
The trade names, trademarks or distinctive signs that appear or alluded to on the Site belong to their respective owners and are protected by current legislation . Therefore, except as provided in section 8.2., The total or partial reproduction of said contents, as well as any type of exploitation thereof, is prohibited, unless prior and express authorization of INVEST LATAM. Any unauthorized use of the content of the Site will result in INVEST LATAM restricting the access of the Users to it and closing the accounts of the Members, notwithstanding that INVEST LATAM undertakes the legal actions to which it may arise.
8.2. As long as the User maintains intact and respects the intellectual property rights, INVEST LATAM grants the Users a limited license to access and use the Site, and to download or print a copy of any part of the Site solely for its use in connection with access to the Site or the Services. Consequently, the User may not publish the content of the Site on any Internet, Intranet or Extranet site or incorporate the information in any other database or compilation. This license is revocable by INVEST LATAM at any time and without prior notice.
8.3. The User declares and guarantees that he is the owner of the copyright of all the contents that he uploads or publishes on the Site or, failing that, that he has the respective authorization of the holders of such rights. The User grants INVEST LATAM a free and non-exclusive license to use, copy, or publish in any way that content on the Site or its subdomains, without any additional consent, notification or compensation.
8.4. Given that the Site can have spaces for Users to share content, ideas or suggestions, INVEST LATAM does not guarantee that the content of the Site does not infringe the rights of third parties. However, if this is the case, the User who shares such content will be responsible to the affected third parties and will hold INVEST LATAM harmless from any claim, action, demand, procedure, loss, expense, compensation, fine or sanction that may arise from a conflict with a third party for that reason.
9. Link to third party sites
Eventually the Site may have links to other sites of interest to Users, as well as information from other websites owned by third parties.
The publication of a link (link) of a third party does not necessarily imply the existence of relations between INVEST LATAM and the owner of the linked website or web page, nor the acceptance, approval or recommendation by INVEST LATAM of the contents or services of that third party. website. In this sense, INVEST LATAM is not responsible for the functioning, accessibility or information found in the links of third parties, nor for the decisions that the User adopts based on the information published on the websites of third parties.
10. Privacy of personal information
INVEST LATAM is very important security and proper use of personal information, which is why all personal data provided by Users when accessing the Site or making use of the Services will be treated under the guidelines of the legislation that is applicable according to the corresponding jurisdiction (Law 1581 of 2012, Decree 1377 of 2013 and / or Regulation (EU) 2016/679 of the European Parliament and of the Council and the other norms that modify, complement, update and / or repeal them), and in accordance with the INVEST LATAM Data Processing Policy available on the Site. The User, by accepting the Data Processing Policy, authorizes INVEST LATAM to treat the data that it has collected and that the User has voluntarily provided, for the purposes indicated therein. Therefore, we invite you to read carefully the Personal Data Treatment Policy because there you also establish the procedures and the channel of attention that have been arranged by INVEST LATAM to exercise your rights as holder or interested of your personal information.
INVEST LATAM will manage all other non-personal and non-public information provided by Users under security conditions. The User accepts that the information provided to INVEST LATAM for purposes of registering on the Site, and participation in the Platform as an Investor or Borrower may be subject to verification and analysis by third parties or independent persons to INVEST LATAM, which conduct legal, credit, risk or other studies to evaluate participation in the Platform. All or part of this information may be published in the Platform so that the Investors and Borrowers have information in making their decisions, as long as that publication does not contravene the legal provisions in force. Additionally, the information provided may be processed and used for the preparation of reports or reports on the specific profile of the Members, which will also be published, for information, on the Platform.
12. Security conditions of the Site
In the processing and processing of data INVEST LATAM will apply, as a minimum, the technical and organizational security measures that are applicable by the industry to preserve the integrity of the account data, and to provide protection against access, use and improper processing of them. Data is understood as all information provided by Users when using the Site and Members at the time of registration, as well as the information they provide when accessing the Services. The owner of the account is responsible for obtaining the respective authorization from the users,
13. Prohibitions on the use of the Site.
The users may not: (i) modify, disclose, alter, translate or create derivative works of the Site and its content, (ii) license, resell, distribute, rent, lend, transfer, assign to any title or otherwise dispose of the Site , its services and / or its contents, (iii) disassemble, decompile or reverse engineer any of the components of the Site, (iv) copy or duplicate any part of the Site, (v) interfere with or disrupt the integrity or operation of the Site or the Services, (vi) try to obtain unauthorized access and by any means to the Site or the Services, (vii) use the Site or the Services for illegal or unauthorized purposes, (viii) use and / or hack the Site in any way that could damage, disable, impair, affect or overburden the normal use of the Site, the Services and / or could affect the systems, platforms, softwares and hardwares of INVEST LATAM; (ix) transmit the information mentioned in numeral 10 and 11 of these Terms and Conditions and in general any information accessed by another User or Member through emails, blogs, forums or any other means of communication of any kind.
When the User or Member is a legal entity, it will not allow, facilitate or consent that any of the users, their collaborators, their dependents or third parties incur in any of the prohibitions indicated, and in any case that will be responsible for the use that these last make the Site from the equipment, facilities or networks of the Company, regardless of whether or not it is registered as a Member.
14. Suspension or cancellation
The access and use of the Site is conditioned to compliance with these Terms and Conditions and the other applicable Legal Documents in accordance with the Services to which the User accesses, as well as to be used for lawful and legitimate purposes, and compliance with laws applicable. Consequently, if INVEST LATAM determines that during the use of the Site or the Services the User has engaged in any of the prohibited behaviors, has provided false, misleading or erroneous information, has made false statements, has violated any provision of these Terms and Conditions, of the Personal Data Treatment Policy, of the Legal Agreement or any other Legal Document, which has violated applicable laws, or that the Site or the Services have been used in any way for improper, unauthorized or unlawful purposes may, at its discretion: (i) require the User o Member to make appropriate adjustments to comply with its obligations, (ii) limit, suspend or restrict access to and use of the Site and / or Services, or (iii) close the Member's account on the Site. In these last two events INVEST LATAM will inform the User or Member of its decision, notwithstanding that it undertakes the corresponding legal actions against the respective Users or Members. that you have violated applicable laws, or that the Site or the Services have been used in any way for improper, unauthorized or unlawful purposes, may, at your discretion: (i) require the User or Member to make appropriate adjustments to comply with its obligations, (ii) limit, suspend or restrict access to and use of the Site and / or the Services, or (iii) close the Member's account on the Site. In these last two events INVEST LATAM will inform the User or Member of its decision, notwithstanding that it undertakes the corresponding legal actions against the respective Users or Members. that you have violated applicable laws, or that the Site or the Services have been used in any way for improper, unauthorized or unlawful purposes, may, at your discretion: (i) require the User or Member to make appropriate adjustments to comply with its obligations, (ii) limit, suspend or restrict access to and use of the Site and / or the Services, or (iii) close the Member's account on the Site. In these last two events INVEST LATAM will inform the User or Member of its decision, notwithstanding that it undertakes the corresponding legal actions against the respective Users or Members. or that the Site or the Services have been used in any way for improper, unauthorized or unlawful purposes may, at its discretion: (i) require the User or Member to make the corresponding adjustments to fulfill their obligations, (ii) limit, suspend or restrict access to and use of the Site and / or Services, or (iii) close the Member's account on the Site. In these last two events INVEST LATAM will inform the User or Member of its decision, notwithstanding that it undertakes the corresponding legal actions against the respective Users or Members. or that the Site or the Services have been used in any way for improper, unauthorized or unlawful purposes may, at its discretion: (i) require the User or Member to make the corresponding adjustments to fulfill their obligations, (ii) limit, suspend or restrict access to and use of the Site and / or Services, or (iii) close the Member's account on the Site. In these last two events INVEST LATAM will inform the User or Member of its decision, notwithstanding that it undertakes the corresponding legal actions against the respective Users or Members. (i) require the User or Member to make appropriate adjustments to comply with their obligations, (ii) limit, suspend or restrict access to and use of the Site and / or Services, or (iii) close the Member's account in the place. In these last two events INVEST LATAM will inform the User or Member of its decision, notwithstanding that it undertakes the corresponding legal actions against the respective Users or Members. (i) require the User or Member to make appropriate adjustments to comply with their obligations, (ii) limit, suspend or restrict access to and use of the Site and / or Services, or (iii) close the Member's account in the place. In these last two events INVEST LATAM will inform the User or Member of its decision, notwithstanding that it undertakes the corresponding legal actions against the respective Users or Members.
These Terms and Conditions apply to all improvements, modifications, variations, revisions, updates, supplements and substitutions (Updates) that INVEST LATAM makes on the Site, without the need to require your consent for such purpose. If the modifications or updates are such that the functionality of the Site or the Services is considerably reduced INVEST LATAM will report this situation through the Site or the registered email. Neither the above, nor any other provision provided in these Terms and Conditions may be interpreted in the sense that INVEST LATAM has the obligation to create,
INVEST LATAM may carry out scheduled and previously informed maintenance on the Site and other non-informed or emergency maintenance. INVEST LATAM will try, as much as possible, that the maintenance does not affect the availability of the Site or the services; however, this could eventually be affected during such maintenance.
17. Beta Services
INVEST LATAM may offer on the Site, under the name "Beta" or any other that indicates that it is on trial, services or features that are still in the evaluation stage. These Beta services or features are applicable, in addition to the provisions of these Terms and Conditions, the following conditions: (a) The use is voluntary, therefore it is your decision to use or reject the use of any Beta Service; (b) the Beta Services may not provide support and may be modified at any time without prior notice; (c) the Beta Services may have flaws in its functionality; (d) the Beta Services may not be subject to the same security and auditing measures as the final Services; (e) Beta Services are free, unless expressly stipulated otherwise; (f) all comments and information received in connection with the Beta Services will be used freely and without compensation to improve the Service and its functionality; If you do not want your comments, suggestions or contributions to be used for this purpose, we recommend refraining from issuing them, and (g) INVEST LATAM is not liable for any inconvenience, difficulty, problem, damage, loss or expense that may arise with occasion or as a result of the Beta Services,
18. Forums, blogs, chats, comments, shared files and other participation spaces
The User acknowledges that their participation in any forum, chat, comment, blog and / or any other space of participation of the Site, will be under their exclusive responsibility, and that likewise, the opinions and / or actions and / or behaviors of others. Users in such participation spaces are the sole responsibility of those who issue or perform them, for which reason INVEST LATAM is not responsible or guarantees the quality or suitability of such behaviors or opinions, nor for the consequences that they may bring to favor and / or against other users or third parties.
In any case, the User undertakes to make appropriate use of the participation spaces available on the Site, to use a respectful and impartial language, and not to make threats, expletives, value judgments, or vulgar, racial or any other discriminatory manifestations. or that they exalt the violence. The use of the participation spaces is for the purposes of the Site and / or the Platform, therefore, it is prohibited to publicize through these spaces products or services of their own or of third parties.
Each User expressly and irrevocably accepts and authorizes INVEST LATAM to review the comments and files shared in such spaces that are available on the Site and / or to suppress those it deems appropriate, at its discretion. In case of violation of this provision by a User, INVEST LATAM reserves the right to restrict your access to the Site and / or to close your account in this or the Platform.
The design, management, purpose and characteristics of the different areas of participation of the Site is discretionary INVEST LATAM, which may at any time change and / or eliminate them, and / or determine the number of users admitted in each of them.
19. User Participation
Any comments, suggestions or ideas that are sent or published through the Site in relation to the operation and operation of this, may be used by INVEST LATAM freely for any purpose, without recognition or compensation for the issuer. The User renounces any patrimonial right that may have over the aforementioned and agrees to remain anonymous in case said information is used. We ask that you refrain from submitting comments, suggestions or ideas about which you wish to keep the property or that infringes or may infringe the intellectual property rights of others.
INVEST LATAM has the right to reveal the identity of the User to any third party claiming content sent by him through the Site, as a User or Member, in order to clarify any fact of this nature to individuals and / or competent authorities (see also number 8)
20. Provisions applicable especially to Members
20.1. Registration on the Site and creation of an account
To access certain Services on the Site it will be necessary for the User to register on the Site as a Member and create an account, for which purpose they must provide contact information and assign a secure User Name and Password, which are non-transferable and must be maintained. in secret. Additionally, and without prejudice to what is established in numeral 2 of these Terms and Conditions, the User registered as a Member must expressly declare that they understand and accept these Terms and Conditions, the Personal Data Processing Policy, the Legal Agreement and the other Legal Documents to which acceptance INVEST LATAM reserves the right to accept the registration of the respective User. If the User does not agree with all or part of one or more of these Legal Documents, we recommend that you refrain from registering as a Member.
20.2. Legal capacity to create an account
Keep in mind that when creating an account, the User must have the legal capacity to bind and commit, which means that in the case of natural persons, it must be over 18 years of age and in the case of legal entities have legal representation powers that imply the ability to engage the respective Company in the acceptance of the Legal Documents, the delivery of information necessary to evaluate the profile, and the execution and fulfillment of all the activities inherent to the participation in the Platform, including, among others, the formulation of offers in firm, the acceptance and / or rejection of these,the subscription of loan contracts and guarantees that the Members agree, the disbursement of resources and the payment of loans.
When creating your account, the User declares and agrees to have the necessary legal capacity to bind and commit, according to the provisions of the preceding paragraph. INVEST LATAM reserves the right to request the documents and media it deems necessary to verify said legal capacity.
20.3. Responsibility for the information provided
The User declares and guarantees that all the information and documents that he provides for the creation of his account or when filling out any registration form is accurate, truthful, updated and complete, and authorizes INVEST LATAM and the independent agencies in charge of the legal, credit study. and / or of risks to verify directly with the User or with third parties such information.
The User is solely responsible for the damages, losses or losses that may occur with the decision that INVEST LATAM and / or independent rating agencies adopt in relation to the authorization or not to participate in the Platform based on information by him supplied.
20.4. Responsibility for the use of Username and Password
When creating an account, the User is solely responsible for the access information and the fact that a third party makes unauthorized use of it, with or without their knowledge. Any use or activity carried out on the account with the User Name and Access Password is understood to have been made directly by the Member.
INVEST LATAM is not responsible for any damage or loss that the User suffers when accessing the account with the access information. In any case, upon noticing an unauthorized access or use of your account, the User must inform INVEST LATAM of this situation as soon as possible.
20.5. Obligations in the management of the account
The Member undertakes, in addition to complying with the other obligations set forth in these Terms and Conditions, to (i) maintain the confidentiality of the passwords and access data to its account, (ii) administer access to the account by its authorized users and (iii) guarantee that the use of the Site by its users complies with these Terms and Conditions, the Legal Documents and the applicable laws.
20.6. Requirements to participate in the Platform
The mere creation of the account does not imply, nor guarantee, that the Member can participate as an Investor or Borrower in the Platform. In order for Members to participate in this capacity in the Platform, they must exhaust the following procedure as appropriate:
20.6.1. Procedure for Investors:
- Once the User is registered as a Member, he must complete with his information the Investor Profile Forms that INVEST LATAM will make available in his account created on the Site, as well as supplying the documents that support the information registered in the respective forms. and that are required by INVEST LATAM. In case the Member does not have all the necessary information and supports at the same moment, he / she will be able to save the changes made in the form and return to them again later.
- The sending of the required information by the respective Member does not automatically imply a favorable response to the request to participate in the Platform. This information will be subject, in all cases, to verification and analysis by an independent agency designated by INVEST LATAM, which will evaluate the legal, credit and risk profile of the Member, as well as the legality of its activities and the origin of the means. INVEST LATAM reserves the right to request a second evaluation of the Member's profile.
- Once the third party has made the corresponding evaluation, the Member will be informed about the authorization or denial of his participation as an Investor in the Platform.
The Member is solely responsible for the truthful, complete and accurate supply of the information and media provided to study the admission of his participation as an Investor in the Platform.
In no case shall INVEST LATAM be liable for any damages, losses or expenses that the Member may incur in a favorable or unfavorable decision to its request to participate in the Platform as an Investor.
20.6.2. Procedure for Borrowers:
- When the User is registered as a Member interested in being a Borrower, he / she must complete the corresponding forms and send, through the account that he / she has created on the Site or the mechanism that INVEST LATAM provides, the Certificate of Existence and Legal Representation, a copy of the Identity documents of the Legal Representative, copy of the Articles of Association, Financial Statements with their corresponding notes, explanatory document of the purpose of the loan and the studies that exist on its Financing Project, credit history, and all other documents that are required by INVEST LATAM.INVEST LATAM reserves the right to modify the forms and / or change the information requirements required of Members to evaluate their participation as Borrower and the Financing Project.
- For the profile study of the User it will be necessary to analyze their credit behavior, therefore, the User authorizes INVEST LATAM and the independent agencies of the studies to consult and obtain reports of their credit history at the credit bureaus, with the so that it is taken into account for the legal, credit and risk study.
- Once the Member has delivered all the required information, it must pay the amount that is informed for the purposes of the legal, credit, guarantees and risk assessment of its profile and that of its Financing Project. These studies will not be carried out until the Member proves having made the respective payment. The value of the studies is not refundable in any case, which includes not authorizing their participation in the platform or not obtaining the minimum limit of loan offers (see numeral 19.8).
- The study will be carried out by one or more independent entities to INVEST LATAM, which will evaluate the profile, risk and conditions of the Member and the Financing Project, and which will determine whether the request made by the Member to participate as a Borrower in the Platform with its Project Financing may or may not be accepted.
- As a result of the legal, credit and risk study, the independent agency in charge will make a Financial Report of the Borrower that contains, at least, an analysis of the following variables; operational income, profitability, indebtedness, working capital, cash structure, and a credit rating of his profile will be granted, which the User accepts to be published in his account for the knowledge of the Investors participating in the Platform. Both the financial report and the credit rating may be subject to periodic reviews and updates, for which INVEST LATAM reserves the right to request the Borrower,
- Once the independent agency has made the corresponding legal, credit and risk assessment, the Member will be informed via email, with a copy to INVEST LATAM, about the decision to accept or reject their participation as Borrower and the publication of their Project of Financing in the Platform.
- If the decision is favorable, ie the request has been accepted, a public profile will be created for the Borrower in the Platform, which must be completed with a brief description of its profile, and the Financing Project (object, amount, fee and deadline for payment, as well as guarantee of support). When this profile is complete, it will be activated and the Borrower will be able to receive the loan offers from all the Investors that participate in the Platform and who are interested in the Financing Project.
The Member is solely responsible for the truthful, complete and accurate supply of the information and media provided to study the admission of his participation as Borrower and of its Financing Project. In no case shall INVEST LATAM be liable for any damages, losses or expenses that the Member may incur in a favorable or unfavorable decision to its request.
20.7. Acceptance as Borrower or Investor
When Members have been accepted as Borrowers or Investors will be enabled, except for the fulfillment of other conditions previously and expressly required, to enter loan offers to the Platform, accept and / or reject them, negotiate loan conditions, and formulate and resolve concerns. of the other Members participating in the Platform.
The conditions of participation of the Investors and Borrowers in the Platform are regulated by the Legal Agreement duly subscribed, which governs the relationship of the respective Member with INVEST LATAM for the purposes of their participation in one or another quality (Investor or Borrower) in the Platform. This Legal Agreement is binding and mandatory, therefore, remember to read the Legal Agreement carefully before entering and using the Platform.
Without prejudice to this, take into account the following conditions to participate in the Platform:
- The Borrower may choose, without further modification, a term of the duration of the publication of its Financing Project, during which it may receive offers from the Investors. The term will begin to count from the same day in which the Project of Financing in the Platform is published, which will always be done in the morning of the respective day, Colombian time (-5GMT).
- The maximum number of offers that the Borrower may accept from Investors in relation to its Financing Project will depend on the number of external obligations (loans) that third party has at the time of its registration in the Platform. In any case when communicating the acceptance of your participation in the Platform, you will be informed of the maximum number of loan offers that you can accept.
- In the receipt of offers, the Investor must specify the amount of resources (Colombian pesos COP) that is willing to lend resources to the Borrower. The offers that are entered into the Platform are firm and irrevocable, and may only be modified, if they have not been accepted or rejected, to improve the loan conditions.
- The term that the Borrower has for the acceptance or rejection of the offers of the Investors is equivalent to the term of publication of its Financing Project, a term during which the current loan offers will be visible to the Members . .
- The Investor who has been rejected an offer may formulate a new one in conditions different from the initial offer, if the Financing Project is still in force in the Platform.
- For the disbursement of resources, the Borrower must receive and accept, within the term of publication, a total of offers that correspond to the level defined by INVEST LATAM. That level will be communicated by INVEST LATAM and is subject to be modified.
- The Financing Project will expire and be disconnected from the Platform upon the expiration of the publication term chosen by the Borrower, or sooner, even though the term has not expired, if it manages to collect offers up to the total amount requested by the Borrower through such Project. .
- If at the expiration of the term of publication of the Financing Project, the bids received and accepted by the Borrower are lower than the minimum level defined by INVEST LATAM, it will proceed to de- fix it and cancel the bids of the Investors received and / or accepted. , without there being any recognition or payment of any sum for Borrower or Investors, nor for the reimbursement of what was paid for the previous studies.
20.9. The role of INVEST LATAM
INVEST LATAM is a channel that facilitates, through the content and operation of its technological platform, the meeting of third parties interested in requesting and granting a loan for a lawful object, so that they are the ones who negotiate and agree on the loan conditions if they decide grant it and accept it respectively. In this sense, INVEST LATAM is not a financial intermediary and is not supervised by the Financial Superintendence of Colombia.
INVEST LATAM does not lend resources of third parties, does not collect funds from third parties, does not provide financial advice, does not advise, does not endorse, does not recommend taking a specific decision, does not intervene in the negotiation of loan conditions, or in the disbursement of the loan. loan, does not guarantee, nor is it responsible for, the future solvency of the Members, nor the fulfillment of their respective obligations, nor does it act as an agent of a Member.
The information available on the Site is for informational purposes only, therefore, it can not be considered as advice or recommendation on the suitability of a Borrower, a Financing Project, the loan conditions, or the suitability of a guarantee. What is provided here applies to those cases in which Members, especially Investors, making use of the Platform's tools automatically seek Borrowers that meet certain parameters, since in this case what INVEST LATAM does is to facilitate that the respective Member finds the Borrowers and / o Financing Projects that meet the criteria determined by that,
INVEST LATAM does not carry out credit or financial studies of Members, since they are carried out by independent agencies, based on their own criteria. In the case of the Borrowers, the independent agencies prepare a report of the financial profile and assign a credit rating that is made available to the Investor Members in the platform solely for the purpose of information. In relation to the guarantees offered by the Borrower, the independent agencies carry out a formal verification of their existence and of the non-concurrence of other liens on the same good.
In accordance with the foregoing, the acceptance of a Borrower to participate in the Platform with the publication of its Financing Project, the authorization granted to an Investor to participate in the Platform through the entry of offers, the provision of information of some of the Members in the Platform, or the delivery of information through the Site or any other communication channel regarding the Services, is not, nor can it be considered, as an endorsement or recommendation of INVEST LATAM or the independent agencies in charge of the studies. of a Member, a Financing Project,an offer or guarantees offered by a Borrower to support the payment of the resources provided by the Investors.
No act or manifestation of INVEST LATAM or the independent agencies substitutes the proper analysis that each of the Members must make in making their decisions. In that sense, each Member is responsible for making its own analysis and consulting its financial advisor for making an investment decision or request for a loan.
For the formalization of the loan operation and the guarantee, INVEST LATAM will contact the Borrowers and Investors with an external legal agency that will be responsible for providing them with the corresponding documents and indications, being in any case the responsibility of the respective Members for the formalization. of the loan and guarantee, as well as the disbursement of resources. INVEST LATAM is not responsible for the breach or late fulfillment of the Members in relation to such obligations, nor for executing or taking legal action for said breach.
Access to the Site is free, unless INVEST LATAM defines the contrary in which case it will inform of this in a timely manner through the Site or mail registered by the Member.
The Borrowing Member must pay a fixed fee for legal study and credit study to the external third party (s) in charge of that process. The value of the fixed rate and form of payment will be informed in a timely manner to the Borrower, so that the latter makes the corresponding payment. There will be no legal study or credit study without the Member making and crediting the corresponding payment.
In addition, the Borrower shall pay a commission on the total volume of resources that the Borrower accepts as a loan from the Investors, provided that it reaches the minimum level defined by INVEST LATAM of the desired Amount. If this percentage does not reach a minimum in the corresponding term (See 8) there will be no charge for this commission.
In this case, or in any other in which INVEST LATAM informally establishes the collection of a value for access to a Service, timely non-payment will be sufficient reason to restrict the access of the Member or User to the respective Service.
20.11. Mechanisms for payment
For purposes of paying for the Services that have a value, INVEST LATAM may place a secure connection to the transaction on the Site through a payment platform. INVEST LATAM will not request access data to these platforms, nor data of its financial products (credit cards, debit cards, savings accounts, etc.), therefore, the User is solely responsible for their security.
INVEST LATAM is not responsible for failures in the communication of the respective payment platform, banking entities or financial institutions in which the User has the financial products that will be used for payment, nor for damages caused by errors or omissions on the part of said entities or service providers.
Regarding the disbursements that the Investors make to the Borrowers and the payments that the latter make to the first INVEST LATAM does not intervene in any way, in that sense the payment platform does not lead, nor redirect the resources, at any stage of the transaction. , to an INVEST LATAM account or site. The transaction is made directly between the Borrower and Investor, therefore, INVEST LATAM is not responsible for error, delay, loss, default or any situation that may arise in relation to such transactions.
20.12. Legal origin of resources
By accepting these Terms and Conditions, the User expressly declares that the resources with which he pays for the Services collected, those that he invests or with which he pays the value of the debt to the Investor, have a legal origin and do not come directly or indirectly of money laundering activities, financing of terrorism, or any illegal activity of any nature, and that his name is not included in the List of Specially Designated Nationals and Specially Designated Nationals and Blocked Persons List) issued by the Office of Foreign Assets Control of the Department of the Treasury of the United States of America ("OFAC") and / or on any list of a similar nature. Consequently, the User declares that he will hold INVEST LATAM, its partners, representatives and employees harmless from any claim, demand, action, process or sanction of any third party and / or any competent authority, related to the origin of the resources used to through this Site or the Services.
Additionally, the Borrower declares that by participating in the Platform it is not in any situation that under the current regulations may constitute an illegal or illegal activity, and that it will allocate the resources received in loans only and exclusively for the Financing Project, and not for illicit, improper or unauthorized purposes.
21. Use of information of other Users or Members
Eventually in the use of certain services of the Site, the User may have access to personal, business, financial, credit or any other information of a User or Member that is making use of the same services. The access and use of this information is allowed only and exclusively to facilitate the User making informed decisions in relation to the respective service, therefore its disclosure, disclosure, reproduction, publication or use for purposes other than those indicated is prohibited.
22. Limitation of liability
Neither INVEST LATAM, its subsidiaries and / or affiliates, nor its partners, representatives, employees, agents or collaborators shall be liable, to the maximum extent permitted by law, for any loss, damage, injury, expense or cost that the User may incur. suffer or incur in, as a consequence of accessing or using this Site or the Services, including, but not limited to:
- False, deceptive, inadequate or incomplete information of any of the other Users or Members and considered by The User for making any decision.
- Breach or unfulfilled fulfillment of the obligations of a User or Member consecrated in these Terms and Conditions, Legal Agreements, or other Legal Document.
- The origin and non-licit, improper or unauthorized destination of the resources granted or received on loan by the Members.
- Disadvantages, difficulties or problems that your financial institution exposes for the mobilization of resources from or to your account or financial products, and the losses derived from it.
- No availability, no continuity or faults of the Site and delay in correcting or not correcting them. The Site and the Services are available and provided "as is". However, INVEST LATAM will try to correct technical errors and / or inaccuracies in its contents as soon as they are warned.
- Errors, omissions, interruptions, delays in information, transmission, computations, system failures and other problems that occur on the Site.
- Technical malfunction of any network or telephone line, online computer systems, servers or suppliers, computer equipment, software, hardware, email failures.
- Computer viruses, malware or malicious external attacks.
- Authorized or unauthorized access by a third party to your account using the corresponding access data for that purpose.
- The inaccuracy of the evaluations, financial reports and / or credit ratings prepared by the entities that make the profile study of the Borrowers and that are made available to the Members, especially the Investors, for merely informative purposes, nor will they be responsible regarding decisions that Members make based on such evaluations and ratings.
- The content and information shared by Users and Members on the Site, their behavior inside or outside it. INVEST LATAM establishes rules for the use of the Site and access to the Services, and reserves the right to remove content that it considers inappropriate, but we do not guarantee that they will be observed in full by the Users.
- Infringements of property rights of third parties on the occasion of the shared content and the publications made on the Site by Users.
- Any change in the legislation that affects the operation of this Site and its Services.
- The other situations expressly provided in these Terms and Conditions.
The User can not impute any legal liability to INVEST LATAM, its partners, representatives or employees, nor demand from them indemnities, or payments for damage of any kind, by virtue of any loss, damage, injury, expense or cost incurred by them. the situations described above.
INVEST LATAM does not guarantee or promise a specific result with respect to the Services, especially as it relates to effective access to sources of financing and investment of resources, therefore the User is solely responsible for the offers made in the Platform and the decisions it adopts, without INVEST LATAM, its partners, representatives or employees being responsible for loss of business, opportunity, financial, profitability or any other loss or expense incurred by the User when participating in the Platform , and invest or apply for a loan.
The limitations and waiver in this section or any other are not intended to limit liability or alter your rights as a consumer that can not be excluded according to applicable law.
The User accepts his responsibility in case of non-compliance or non-compliance with the provisions of these Terms and Conditions of Use. Therefore, any legal action for violating his rights will be analyzed based on the Terms and Conditions that have been duly informed by the User. guidelines under which the Site operates and its strict compliance with them.
(ii) the creation of an account and / or participation in the Platform without having the age of majority or without the powers to act on behalf of a company or organization, (iii) the authorization for the processing of personal data provided on occasion of the interaction with other Users, the creation of an account, the use of the Services, and the publication of information on the Site; (iv) any fraud, illegal, undue or criminal activity that you perform when accessing or using the Site or the Services; (v) access, authorized or not, to your account by third parties with your access data and the improper use thereof; (vi) any loss or damage derived from the decisions that the User adopts on the Site and in the use of the Services, based or not on the information published on the Site; (vii) the breach, moratorium, refinancing, agreement of creditors, insolvency, seizure or any other situation in which the User incurs and which affects the timely and proper performance of its obligations to other Users, especially Borrowers and Investors; (viii) any claim arising from an infringement of intellectual property rights on your part when using the Site and accessing the Services; (ix) any claim,
INVEST LATAM may make notifications through the Site and / or by means of an email sent to the e-mail registered by the Member at the moment of creating his account. Taking into account this last means of notifications, the Member accepts that it is their duty and responsibility to keep the complete contact information updated.
The User accepts the communication through the aforementioned channels in relation to his use of the Site and the Services, and that the notices, agreements, disclosures and other communications that are sent in this way will cover all the legal requirements of the notification.
INVEST LATAM may be notified of the issues related to the Site and its Services by electronic communication addressed to the e-mail firstname.lastname@example.org
25. Applicable law and conflict resolution
These Terms and Conditions shall be governed by and construed in accordance with Colombian law.
In case of any controversy or claim that arises or is related in any way with these Terms and Conditions, the Site or the Services, the User or Member and INVEST LATAM agree to first go to alternative dispute resolution mechanisms, specifically to conciliation before a center legally recognized and empowered to do so in Colombia. If an agreement is not reached, INVEST LATAM, the User or Member will be entitled to go before the competent judges and courts, under the procedures provided for in Colombian legislation. All negotiations for conflict resolution and judicial proceedings will be conducted in Spanish.
26. Force majeure
INVEST LATAM will not be responsible for the malfunction of the Site, an inadequate provision of the Services or the breach of any of its obligations to the extent that this was caused by a condition beyond its reasonable control (eg, a disaster natural, an act of war or terrorism, riots, working conditions, a government action, interruption of the Internet connection or hacking the Site).
27. Complete agreement and divisibility
The non-execution of any part of these Terms and Conditions by INVEST LATAM does not constitute a waiver of its right to enforce them. If any provision of these Terms and Conditions is or becomes illegal, void or unenforceable, then such provision shall be deemed replaced by a valid provision that comes closest to the intent of the original provision, and the remaining provisions of these Terms and Conditions they will continue in full force and effect.
These Terms and Conditions constitute the integral agreement between the User and INVEST LATAM in relation to the access and use of the Site, without prejudice to the specific Legal Agreements that Members must accept to access certain services, and replace any previous agreement that may have been made on the subject.
28. Final declaration of knowledge and acceptance
In addition to those provided in paragraph 2 of these Terms and Conditions on the acceptance of this document, each time the User clicks on "I accept Terms and Conditions of Use" when required by the Site or when accessing certain Services, The User declares and acknowledges having read and understood the contents of this document, and accepts it in a comprehensive manner, from which INVEST LATAM will proceed to send a confirmation to his registered email, along with a full copy of the accepted version of these Terms and Conditions.