1. Definitions
Operator of portal
Refers to SIA "Verdenergy" with registration number 40203616726 and registered address at Bruņinieku iela 71B - 71, Rīga, LV-1009, Latvia, along with any other entities within the Verdenergy group under shared or mutual control with Verdenergy platform.
Agreement
The distance contract between a User of the Verdenergy platform (www.vedenergy.eu) and Verdenergy, establishing the terms for platform use.
Assignee
A User who, under one or more Assignment Agreements, has purchased Claims against Borrower Verdenergy .
Business Day
Any calendar day except Saturdays, Sundays, and public holidays in Latvia.
Claim
A Creditor's right or portion thereof against a Borrower arising from a Loan Agreement, assigned to a User under an Assignment Agreement.
Claim Servicing
Activities performed by Verdenergy, including managing Claims, transferring funds received from Borrower Verdenergy to Users, and other actions described on the Platform.
Claim Price
The amount paid by the User to the Assignor for transferring the Claim, as specified in the Assignment Agreement.
Creditor
A person or entity holding Claims against Borrower Verdenergy under Loan Agreement.
EEA
The European Economic Area.
GDPR
The General Data Protection Regulation (REGULATION (EU) 2016/679), governing data protection and privacy.
Investor (or User)
An individual or entity registered on the Platform to invest in projects by purchasing Claims listed by Assignor Verdenergy.
Investor’s ID Number
A unique identifier provided to each User upon registration, used for transactions on the Platform.
Laws and Regulations
All applicable laws in force in Latvia.
Loan
Funds disbursed by a Lender to a Borrower Verdenergy under a Loan Agreement.
Loan Agreement
The agreement between a Borrower Verdenergy and Lender- investor outlining the terms of the Loan.
PEP
A Politically Exposed Person holding or having held a prominent position in a state or international organization, as detailed in the Agreement.
Platform
The Verdenergy online platform (www.vedenergy.eu), enabling Users to invest in projects by acquiring Claims against Borrower Verdenergy SIA.
Registration Application
The form completed by individuals or entities to register as Users of the Platform.
Third Person
Any person or entity not party to the Agreement.
User’s Profile
A unique account created for each User upon registration, allowing them to manage investments and funds on the Platform.
2. User Registration on the Platform
2.1. To access Platform services, Users must register by completing a Registration Application and agreeing to the terms of this Agreement.
2.2. By registering, Users confirm they meet specific criteria, including but not limited to:
- Full legal capacity as an individual or legal entity.
- Being at least 18 years old if a natural person.
- Acting within the scope of their authority if representing a legal entity.
- Providing truthful information and agreeing to comply with the Agreement.
- Not using funds of criminal origin or engaging in illegal activities on the Platform.
2.3. Users certify they have read and accepted the Agreement terms by submitting their Registration Application.
2.4. Verdenergy reserves the right to reject any registration without explanation.
2.5. Upon approval, Users receive access credentials and an Investor ID number.
2.6. Verdenergy verifies email addresses and may request further identification documents as necessary.
2.7. Only registered Users may use the Platform, with access secured via email and a strong password.
3. User Identification
3.1. Before using Platform services, Users must complete an identification process per Verdenergy internal controls.
3.2. Identification may require submitting documents such as:
- Passport or equivalent ID for individuals.
- Business registration and ownership documents for legal entities.
3.3. Additional verification may be requested at Verdenergy discretion.
3.4. Funds may only be transferred to the User’s Profile balance after successful identification.
3.5. Suspicious activities or failure to provide accurate information may result in blocking or termination of the User’s Profile.
4. User’s Profile Balance
4.1. Users may add funds by transferring money from their own bank account.
4.2. All funds transferred must originate from the User's account and be in euros.
4.3. Payments without proper identification details may not be credited to the User's Profile until resolved.
4.4. Funds in the User’s Profile balance are kept in a segregated Verdenergy account and do not earn interest.
4.5. Users may withdraw funds from their balance at any time, provided all transactions comply with the Agreement.
4.6. Withdrawals must meet a minimum threshold of €10 and will be processed within two business days, barring unforeseen circumstances.
4.7. Funds in the Profile balance are not considered deposits and are not covered by deposit guarantee schemes.
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Section 5: Purchasing Claims
5.1 Once the User completes the identification process and funds their Profile, they may purchase Claims available on the Platform, provided their Profile balance covers the cost of the selected Claims.
5.2 The steps for purchasing Claims are as follows:
- 5.2.1 The User selects one or more Claims from those offered on the Platform.
- 5.2.2 For partial purchases, the User specifies the desired portion of the Claim.
- 5.2.3 Users may purchase an unlimited number of Claims, in full or partially.
- 5.2.4 Sufficient funds must be available in the Profile balance to cover the Claim Price or cumulative price of selected Claims.
5.3 Applications to purchase Claims are processed in chronological order. Verdenergy reserves the right to modify this order without prior notice.
5.4 By selecting a Claim and agreeing to the price, the User submits an offer to purchase it.
5.5 Verdenergy provides summarized details of the selected Claim, terms of the Agreement, and key Loan Agreement conditions for the User's review and approval.
5.6 If the User confirms the purchase, they also confirm they understand the terms of the Loan Agreements and authorize Verdenergy to transfer funds for the Claim Price from their Profile balance to the Verdenergy bank accounts to funds business operations.
5.7 Once confirmation is received, the Assignment Agreement is deemed concluded, and the Claim Price is deducted from the User's balance and transferred to the Verdenergy bank accounts for business operations.
5.8 The Agreement remains accessible in the User’s Profile until the Agreement is terminated and the Profile is deleted.
5.9 Supporting documents for the Claim are retained by the Assignor or a designated third party and are not provided to the User.
5.10 All transactions are reflected in the User's Profile, which includes information about Claims, Loan repayment, and interest schedules.
5.11 If the User acquires only part of a Claim, they acknowledge that other Assignees may own portions of the same Claim. Verdenergy administers payments from the Verdenergy group companies and distributes them proportionally among all Assignees.
5.12 Verdenergy and Verdenergy group manage payments and credit the User’s Profile with amounts due, as outlined in the Agreement.
5.13 The User is responsible for complying with tax regulations in their country regarding income generated through the Platform.
5.14 Taxes or fees are not withheld by Verdenergy. The User bears sole responsibility for their tax obligations.
6. Rights and Obligations of the User
6.1. The User agrees to promptly provide Verdenergy with all requested information and documentation necessary for purposes such as User identification, verifying the origin of funds, or other matters related to fulfilling the terms of this Agreement.
6.2. By entering into this Agreement, the User acknowledges full understanding of its provisions and associated rights and responsibilities. The User waives any claims against Verdenergy for alleged lack of discussion or unilateral determination of these terms.
6.3. Any actions performed within the User’s Profile are considered as actions taken by the User, making them legally binding.
6.4. The User agrees to adhere to the terms of this Agreement and any other agreements established with Verdenergy.
6.5. The User undertakes not to use the Platform for illegal activities, such as fraud or money laundering.
6.6. The User must utilize secure communication methods and devices for accessing and transmitting data.
6.7. It is the User’s responsibility to maintain a sufficient balance in their Profile to meet all payment obligations under the Agreement.
6.8. Should the User's Profile lack sufficient funds, Verdenergy is not obligated to execute any related instructions, transactions, or payments.
6.9. The User is prohibited from disclosing any Agreement-related information that may affect Verdenergy platform or the Verdenergy interests. Necessary precautions must be taken to prevent unauthorized access to the User’s Profile.
6.10. The User must promptly notify Verdenergy of any changes to their submitted information or status, including becoming or ceasing to be a Politically Exposed Person (PEP), a family member of a PEP, or a close associate of a PEP.
6.11. Representatives of Users who are legal entities must certify their authority to manage funds on behalf of the entity and assume full responsibility for such actions.
6.12. Additional obligations include:
- Using the Platform only for authorized purposes.
- Providing accurate information during registration, transactions, and communications with Verdenergy.
- Taking measures to secure the User Profile against unauthorized access.
- Submitting requested information within the specified deadlines.
7. Rights and Obligations of VEDENERGY PLATFORM
7.1. Verdenergy commits to fulfilling this Agreement and providing Claim Servicing in accordance with the terms outlined herein and in the Agreements, always acting in the User’s best interests.
7.2. The User authorizes Verdenergy to handle Claim Servicing on their behalf, which includes:
- Paying the Claim Price to the Assignor using funds from the User’s Profile, including necessary currency conversions.
- Distributing payments received for Claims to respective Users (Assignees) in line with Assignment Agreements, including currency conversions if needed.
- Deducting any payments associated with the Assignment Agreement.
- Performing all other authorized actions as per the Agreement.
7.3. The User acknowledges that this authorization remains valid for the duration of the Agreement, and actions taken by Verdenergy in this context are binding.
7.4. Verdenergy will process payments to and deductions from the User's Profile balance only as specified in this Agreement.
7.5. Verdenergy is not required to make payments to the User unless corresponding funds are received in accordance with the Agreement terms.
7.6. If needed, Verdenergy may request an in-person visit from the User at its office for identification purposes, with associated costs borne by the User. Failure to comply may result in unilateral termination of this Agreement.
7.7. Verdenergy reserves the right to refuse Claim Servicing, payments, or any services if doing so would violate applicable sanctions, financial embargoes, or laws. This includes sanctions imposed by the Republic of Latvia, the EU, the United Nations, or the United States.
7.8. Verdenergy may, at its discretion and without prior consent from the User or any party to the Loan or Agreements:
- Assign its rights or delegate obligations under this Agreement to an Affiliated Company.
- Delegate Platform services, such as handling User payments, to an Affiliated Company.
7.9. Any authorizations, consents, or powers granted to Verdenergy under this Agreement are also deemed granted to relevant Affiliated Companies as necessary under Clause 6.8.
8. LIABILITY
8.1. Both Parties are responsible for adhering to the Agreement's terms and fulfilling their respective obligations.
8.2. The User is liable for any losses caused to Verdenergy or Third Parties due to the User's actions or omissions.
8.3. The User assumes full liability for any losses, commitments, or activities conducted through their profile until Verdenergy is notified and has had adequate time to block access.
8.4. The User engages with the Verdenergy Platform at their own risk, and Verdenergy is not responsible for the User's obligations arising from legal or regulatory requirements.
8.5. Verdenergy assumes that any actions performed via the User's Profile represent the User's intent. Verdenergy is not liable for transactions by unauthorized Third Parties who accessed the Profile using the User's credentials.
8.6. Verdenergy is only responsible for damages directly attributable to its actions or omissions, limited to the User Profile's balance at the time the damage occurred.
8.7. Verdenergy does not guarantee the accuracy or completeness of information provided.
8.8. Verdenergy is not liable for damages due to issues with communication systems, Platform malfunctions, or payment systems, including those involving electronic data exchange or internet banking services.
8.9. Verdenergy SIA is liable for damages related to the Agreement, including defaults or issues with Claim repayment.
8.10. The User acknowledges that Verdenergy are responsible only for the authenticity of the Claim.
8.11. Payments due to the User under the Agreement will only be made after Verdenergy receives corresponding funds.
8.12. Verdenergy are not obligated to reimburse the Claim Price before the Loan's maturity unless otherwise specified.
8.13. Neither Party is liable for non-performance due to unforeseen, uncontrollable events (force majeure), such as natural disasters, pandemics, or regulatory changes, provided reasonable measures were taken to meet obligations. Official documentation is required to substantiate force majeure claims.
9. CONFIDENTIALITY AND PERSONAL DATA PROCESSING
9.1. Information arising from the Agreement is confidential unless publicly available on the Platform.
9.2. Verdenergy will not disclose User activity information to Third Parties unless required by law.
9.3. The User agrees not to disclose service-related information that could impact Vedenergy.
9.4. User Profile passwords must remain confidential and not be shared.
9.5. Verdenergy processes User data under GDPR, sharing it with authorized entities only when necessary for regulatory compliance or service provision.
9.6. User personal data is processed in accordance with Verdenergy Privacy Policy. Refusal to provide required data may prevent Agreement conclusion and service provision.
9.7. By registering on the Platform, the User agrees to the Privacy Policy and must stay informed about any updates.
9.8. Verdenergy implements robust measures to safeguard User data and ensures staff confidentiality.
10. DURATION AND TERMINATION OF THE AGREEMENT
10.1. The Agreement takes effect once the User accepts it and remains valid until the User Profile is deleted.
10.2. The User must monitor the Platform for amendments, which are binding upon continued usage.
10.3. Verdenergy may amend the Agreement unilaterally, notifying the User through email or the Platform. Continued use signifies acceptance.
10.4. Verdenergy may terminate the Agreement and delete the User Profile for breaches, non-compliance, or regulatory reasons without prior notice.
10.5. Upon termination, any remaining balance is transferred to the User’s bank account, net of applicable deductions.
11. INSOLVENCY OF THE PLATFORM
11.1. In the event of Verdenergy insolvency, new transactions will cease, the Agreement terminates, and outstanding balances are returned per regulatory requirements.
11.2. Users will receive details of ongoing Agreements via their registered email.
11.3. An appointed liquidator or administrator will manage fund transfers and servicing of ongoing Claims.
12. FINAL PROVISIONS
12.1. The Agreement is concluded electronically and does not require signatures.
12.2. Communication methods include email, SMS, or postal mail, using details provided in the User Profile.
12.3. Correspondence is deemed received within specified timeframes, depending on the medium used.
12.4. Verdenergy reserves the right to amend the Agreement and the Price List, providing advance notice.
12.5. If no objection is raised within 30 days, amendments are deemed accepted.
12.6. Legal disputes are governed by applicable laws and regulations.
12.7. Verdenergy may assign its rights under the Agreement to Third Parties without User consent.
12.8. In case of numerical discrepancies, written numbers prevail.
12.9. Unspecified matters will be resolved based on the Platform’s terms at the relevant time.