This FundCorps crowdfunding campaign agreement (hereinafter "Agreement") is a legal and binding contract between you (being an individual or an incorporated or unincorporated legal entity, partnership or otherwise, hereinafter referred to as "campaign owner") and Funds And Toil Private Limited, a company incorporated under the Companies Act, 2013 (hereinafter referred to as "FundCorps"), setting out the terms and conditions for campaigning and crowdfunding through FundCorps on its platform www.FundCorps.com.
BY USING THIS WEBSITE, YOU ARE GIVING US CONSENT TO BE BOUND BY AND ARE BECOMING A PARTY TO THIS AGREEMENT. IF YOU DO NOT AGREE TO ALL OF THE TERMS OF THIS AGREEMENT, KINDLY DO NOT USE THE WEBSITE.
The definition of some of the types of campaigns are as follows:
Campaign type: A campaign owner can showcase and raise funds for a campaign by either one of the following 4 types of Campaigns
Fundraise for cause/NGO campaign: Any individual wishes to raise funds for their NGO or a cause can create a campaign and raise funds
Fundraise for in-kind: Any individual wishes to raise money to buy any product or supply for their organisation can create in-kind donation based campaign and raise funds
Sell NGO products: Any NGO, artisan, social business enterprise wishes to sell products made by artists or for fundraising purposes can upload and sell products in order to raise funds
Event sponsorship: Any individual seeking for sponsorship for their event, can raise money for their event
Campaign set up: The campaign owner shall be solely responsible for creating his/ her or its own campaign pages within the format provided by FundCorps. The campaign owner must source all relevant content to be published on the campaign page/s himself/ herself/ itself and must do so in compliance with applicable Indian & international laws, including all intellectual property laws, copyright laws and confidentiality laws. The campaign owner shall ensure that the campaign page does not contain third-party copyrighted material, or material that is subject to other third-party proprietary rights, unless the campaign owner has necessary permission from the rightful owner of the material, or is otherwise legally entitled to post the material and to further grant FundCorps all the license and rights as outlined in more detail below. Any campaign that is to be launched on FundCorps shall be done after FundCorps has approved the content of the campaign page including the pitch, the video, information, images & graphics, team information etc. Any feedback from FundCorps requiring the campaign owner to modify any part of the campaign page must be implemented by the campaign owner. FundCorps reserves and shall have the absolute right and discretion to prevent or prohibit unsatisfactory or undesirable campaigns from going live or being hosted on its platform. While creating the campaign on FundCorps.com, the campaign owner shall commit to an update frequency to be adhered to for the period of implementation of the project, endeavor, purpose, etc. of the campaign. Any campaign may be withdrawn by the campaign owner at any point before the end of the funding period. Once a campaign is withdrawn, the campaign owner shall not be entitled to any Funding nor be entitled to resume such campaign at a later date and cannot retain or claim any of the Funding received prior to the withdrawal. However, a campaign owner shall be eligible to recreate and repost his/her or its own campaign for submission in case any campaign does not reach its funding goal within the funding period. The placement of the campaign page as to where it appears on the website www.FundCorps.com or the app shall be determined solely by FundCorps at its exclusive discretion.
Exclusivity: The campaign owner shall not, directly or indirectly, run or be associated with any other crowdfunding campaign on any other website or platform, whether in India or abroad, with respect to any campaign, for the duration of the said campaign on FundCorps. All the funding for such campaign must be made through FundCorps.com. However the campaign owner may run multiple crowdfunding Campaigns on FundCorps with respect to one or more campaigns at the sole discretion of FundCorps.
Funding goal & period: The funding goal and the funding period of a campaign shall be determined and agreed before the campaign page goes live. The minimum Funding Period shall be 14 days and the maximum as agreed by FundCorps and campaign owner. Once the campaign page has gone live the campaign owner shall not be permitted to change the funding goal and/or the Funding Period except at the sole discretion of FundCorps. FundCorps may delay, withhold, cancel or refund any funding or other amounts without giving any notice and incurring any liability to the campaign owner in case it is unable to verify any information relating to such Funding to its satisfaction. Campaign owners may contact FundCorps to cancel funding for their campaign for any reason and at any time before the funding period ends. In such case they shall not be required to fulfill any rewards relating to that campaign.
FundCorps branding & credits on promotional material: The campaign owner shall include FundCorps's logo & branding on all campaign and/or campaign related marketing material. This pertains to both online & offline material & includes online banners, posters, leaflets, email shots etc. FundCorps will provide the logo and other branding guidelines to be used and usage of which is to be pre-approved by FundCorps before using the same. The campaign owner shall ensure that FundCorps is credited as the "Online Crowdfunding Partner" in all Campaign related online and offline promotions, events, PR & advertising. The campaign owner also agrees that in the event of a successful Campaign, FundCorps shall be entitled to use the campaign owner's brand & Campaign as an example of a successful campaign both on or off the platform & in any of FundCorps's communication as it may seem fit including in PR articles and offline PR events.
Campaign marketing: The campaign owner shall be responsible for marketing the campaign to his/ her/ its customers, well-wisher's, friends, family, acquaintances, followers etc. through various online & offline channels as may be deemed fit. The responsibility of ensuring the success of any campaign shall be solely the responsibility of the campaign owner. The campaign owner acknowledges and accepts that the platform is merely a facilitator which is in the nature of a marketplace for the purposes of raising funds for a Campaign and that FundCorps does not guarantee any campaign's success or agree to take on any marketing obligations on behalf of the campaign owner or in respect of any campaign whatsoever under any circumstances. Any and all risks in relation to the success or failure of the Campaign shall be solely that of the campaign owner
Foreign funds: Foreign contributions may be made to campaigns provided the campaign is eligible for receiving such foreign contribution and adheres to applicable Indian laws and such contribution is received in accordance with applicable laws relating to foreign exchange. The campaign owner shall ensure that any registrations, certificates, licenses, etc. which may be required for the purposes of receiving foreign contributions are obtained and remain valid for at least 90 days from the end of the Funding Period. Copies of all such registrations would need to be submitted to FundCorps prior to the finalization of the campaign. It shall be the campaign owners' sole responsibility and liability to ensure that a campaign is entitled to receive contributions from Foreign Funders and that such contributions are received in accordance with applicable laws and regulations. FundCorps shall not be liable or accountable whatsoever for any violation or circumvention or other non-compliance with respect to foreign contributions. However, FundCorps may, at its sole discretion, not permit overseas Funders from making any contributions if it comes to the notice of FundCorps that a campaign is not eligible to receive such funds.
Contributions & Refunds: Funders may make contributions by different methods (this will include credit card/ debit cards/ e- wallets/ net banking and other forms of transferring money) and the payment gateway charges only in respect of foreign contributions shall be to the account of the Funder only in case of a refund. A Funder may seek a refund only within 7 days of making their contribution. Irrespective of the campaign period, no refunds shall be entertained after 7 days of making the contribution. By way of clarification, it is clarified that in case of campaigns that are for a period of 15 days or less, there shall be no refunds at all. No refunds will be entertained for any product purchases on FundCorps.
Dashboards / reporting & privacy: The campaign owner will be provided with real time information on the performance of the Campaign by way of a detailed set of quantitative data that FundCorps collates & collects on the funders and users who visit and / or use to the campaign page. Information pertaining to the Funders would include data such as name, contact information (address/tel no), contributions made, rewards opted for etc, in the dashboards & analytics section of the campaign owners profile. You will have access to this in real time. The contact details pertaining to Funders who have opted for a refund of their contributions during the course of the Campaign will not be provided to the campaign owner. FundCorps is neither responsible nor liable for incorrect information provided by Funders or for any direct, indirect or consequential liabilities in respect of such incorrect information.The campaign owner shall be responsible for making regular updates to the Funders in accordance with the reporting assurances given and commitments made at the time of the Campaign.
Campaign owner's representations: The campaign owner hereby represents, warrants and undertakes that:
All information provided by the campaign owner to FundCorps during the registration process and in relation to a Campaign is true and accurate
He/she is capable (in case of an individual, being above 18 years of age) and duly authorized (in case of a legal entity, by way of appropriate corporate approvals) to enter into this Agreement, on behalf of himself, any other person, company, or other entity
The Campaign is legal and in compliance with all applicable laws and regulations
All contributions received will be used solely for the purpose stated on the Campaign Page and no other purpose whatsoever
Any action taken will not infringe or violate any person's rights, violate the law, or breaches any contract or legal duty of the campaign owner towards anyone
The data received from the platform with respect to any Funder or User will be used solely for the purposes of the campaign and shall not be put to any unauthorized use or abused
Intellectual Property (campaign owner's): The campaign owner shall own any and all of the content and other information published on the platform, including but not limited to text, pictures, statistics, graphics, videos, photographs or other data of any nature whatsoever, and the campaign owner expressly warrants that he/ she/ it has all right, title, and interest in and to any and all the content submitted, published or uploaded to the platform free of liens or other encumbrances. The campaign owner further warrants that the content does not and will not infringe or violate any third party's rights, including (without limitation) any privacy rights, publicity rights, copyrights, contract rights, or any other intellectual property or proprietary rights. When the campaign owner submits a campaign or any other content for publishing on the platform, the campaign owner agrees to grant to FundCorps and others acting on its behalf, the worldwide, non-exclusive, perpetual, irrevocable, royalty-free, sub licensable, transferable right to use, exercise, commercialize, and exploit the copyright, publicity, trademark, database and other rights with respect to any such content. The campaign owner also expressly grants FundCorps the right to edit, modify, reformat, excerpt, delete, or translate any or all of the content and the same will be agreed to by the campaign owner. All Campaign content or any other information submitted to FundCorps or on the platform, whether publicly posted or privately transmitted, shall be the sole responsibility of the campaign owner and the campaign owner shall be solely and exclusively responsible for all the costs, consequences and liabilities thereof and FundCorps shall not be responsible or liable in manner whatsoever and the campaign owner hereby indemnifies FundCorps in respect thereof.The campaign owner agrees and grants FundCorps the right to use any or all the content including but not limited to the visual and text-based content (digital or non-digital) submitted by the campaign owner for any Campaign(s), for the purpose of branding and marketing activities of the platform/ FundCorps. Notwithstanding anything in this Agreement, the campaign owner agrees to grant FundCorps an exclusive, perpetual, irrevocable right and license, on a worldwide basis, to use the campaign owner's campaign pitch video(s) through any means or medium deemed fit by FundCorps, including various digital platforms such as YouTube, Vimeo, Facebook etc & on newspapers, magazines and other media platforms (both online and offline).The campaign owner assures if FundCorps or its Users exploit or make use of any content, data or information in the ways contemplated in this Agreement, it will not infringe or violate the law or any rights of any third party. It is hereby acknowledged and accepted that FundCorps shall not be held responsible whatsoever for any misuse of the information, material, ideas etc by any campaign owner or the funder or other User accessing FundCorps
FundCorps Pricing/Contract charges: The campaign owner shall pay FundCorps the following charges in relation to each Campaign:
A success fee of 7.5% + 18% GST will be charged for cause crowdfunding campaign, event crowdfunding campaign, and in-kind donation crowdfunding campaign. However, the product selling campaign will be 20% + GST
Payment gateway charge @ 3% + GST of the total funds raised for a campaign
If there are any other expenses incurred for a campaign related to hiring an external PR agency or spending on joint advertising, any other direct expenses for the campaign, etc, then all such expenses will be pre-agreed prior to the campaign and will be reimbursed by the campaign owner to FundCorps
Payment would be released 15 working days post the campaign end date
Taxation: Any taxes due with respect to the funds raised through FundCorps are the responsibility of and to the account of the campaign owner. These taxes may include, but are not limited to, income tax, VAT, Service tax or any other taxes, levies, cess, etc that may be levied by the Government of India or any State Government or payment gateway or other jurisdictional authority, whether on a current or retrospective basis. FundCorps shall not be liable for any taxes that the campaign owner needs to pay with regard to the Campaign or funds raised under any circumstances.
Use of funds: The campaign owner undertakes to use the funds collected through FundCorps solely for the Campaign described in the Campaign. The campaign owner shall be liable to legal prosecution by its Funders and/ or FundCorps (jointly and severally), if it is found that the funds are being used for any purpose other than that specified at the time of raising the funds, or that it is being used for other inappropriate purposes.
Campaign completion: While the campaign owner shall have full ownership of the campaign, the campaign owner shall make best efforts to complete the campaign by the deadline specified in the campaign page. The campaign owner shall at all times engage with and keep the Funders updated about the progress of the Campaign, including the causes or reasons for any delays. The campaign owner agrees to receive feedback on the Campaign and its updates from the Funders and such feedback would be made available by FundCorps at its sole discretion to others.
Campaign refusal / cancellation: Notwithstanding anything in this Agreement, FundCorps reserves the right, at its sole discretion, to decide as to who is eligible to use the platform and reserves the right to change the eligibility criteria at anytime. FundCorps reserves the absolute right to cancel accounts or to cancel or refuse any campaign at any time with or without any reason whatsoever, in which event, the campaign owner shall, where relevant, forthwith cease & desist from using the FundCorps brand in any communication whatsoever
FundCorps's other rights: The campaign owner agrees that FundCorps shall have the right to:
Make any changes in its technology platform or services, at its sole discretion, at any time, without notice or liability
Reject, cancel, interrupt, remove, or suspend any Campaign or Campaign at any time and for any or no reason
Take whatever other action is required to perform and market the platform and the services being offered thereon
Allow its Users to stream, transmit, playback, download, display, feature, distribute, collect, rate campaigns after funding them and otherwise use the content on the platform, including but not limited to those on the Campaign Page
Remove any content from the website that it determines is offensive, unlawful, threatening, defamatory, obscene, or otherwise objectionable, which determination shall be at the sole and absolute discretion of FundCorps
Limit or restrict access to all or parts of the platform at any time and without any notice or liability whatsoever
Intellectual property (FundCorps's): The campaign owner hereby acknowledges that FundCorps owns all right, title, and interest in and to the website and its associated content, including but not limited to all Intellectual Property Rights. The campaign owner is expressly prohibited from using FundCorps's Intellectual Property Rights or other property, including but not limited to trademarks, copyrights, patents, trade secrets, or confidential information, without the prior written consent of FundCorps.Subject to the payment of the applicable service and set up charges, FundCorps hereby grants the campaign owner a limited, non-exclusive, non-sub licensable, royalty free, non-assignable, and revocable license to use the platform for the purposes of the Campaign. The campaign owner agrees that he/ she/ it will not modify, alter, or remove any intellectual property notices, whether trademark, copyright, or otherwise, from the platform. The campaign owner is expressly prohibited from reproducing, modifying, distributing, publishing, licensing, creating derivative work of, selling, publicly displaying, or publicly performing the platform outside of the uses expressly stated in this agreement
Limitation of liability: FundCorps is an online crowdfunding platform for individuals, entities or organizations seeking to raise funds for their own campaigns and to contribute to the campaigns of others. FundCorps does not pick or endorse any such individuals, entities or organizations or any of their campaigns or causes. FundCorps provides a technology platform to allow fundraisers to connect with donors. The campaign and its funding is solely the agreement between the campaign owners and the funders. Consequently, FundCorps is not a party to the contract between the campaign owners and funders and shall have no responsibility or liability whatsoever in relation or connection thereto. FundCorps provides the website/ app with no warranties of any kind, whether express, implied, or statutory, including but not limited to the warranties of merchantability, title, accuracy, non-infringement, and ability to raise funds or use of funds.Notwithstanding anything in this agreement, FundCorps shall not be liable whatsoever to the campaign owner or any Funder, user or any third party whosoever for any damage, injury or loss, including but not limited to loss of business; loss of income; indirect, special, incidental, consequential, punitive, exemplary or other similar loss or damages, arising from or in relation to the use or misuse of the platform; or any breach of terms or non-performance of obligations under this Agreement; or in relation to the Campaign/ Campaign; or any other reason whatsoever. FundCorps shall also not have any liabilities whatsoever with regard to any disputes or disagreements between or amongst campaign owners, funders, users or other third parties relating to any campaign or the use of the platform. It is hereby acknowledged and accepted that FundCorps
shall not be liable for any errors or omissions in any content
does not endorse any content submitted or published on the platform
oversee the performance or punctuality of any Campaign, or the use of funds raised pursuant to a Campaign
shall not guarantee that any funds will be raised pursuant to a Campaign etc
In addition to the above, the campaign owner specifically agrees and acknowledges that FundCorps shall not be liable in the event the funding target is not met; or in case of any unforeseen technical glitches, including but not limited to website being down for maintenance, server errors, speed of website download, any viruses in the website., which may affect any transaction activity of any campaign; or pursuant to the exercise of any right to refuse, reject, prohibit, interrupt, suspend, cancel or remove any content, campaign or contribution at any time and for any reason whatsoever. FundCorps will not be held responsible or liable for any content posted on the website, any third party links posted on the website, or any content transmitted through the website whether or not that content is transmitted through member accounts. FundCorps does not assume responsibility for any error, omission, interruption, deletion, defect, and destruction of identity, unauthorized access to a members account, or alteration thereof. FundCorps reserves the right to discontinue the website at any time with no consequential liability whatsoever.
Indemnity: The campaign owner hereby agrees to indemnify, defend and hold harmless FundCorps (including its officers, directors, employees, servants, agents, advisors and representatives) against any and all actions, claims, law suits, damages and liabilities, including reasonable attorney fees, that arise from or relate to any breach by the campaign owner, of any of the representations, warranties, assurances and obligations herein; or the campaign owner's use or misuse of, or access to, the platform; or otherwise from the campaign owner's content; or any infringement by the campaign owner, or any third party using the campaign owner's account, of any Intellectual Property Rights or other right of any person or entity. FundCorps reserves the right to assume the exclusive defense and control of any matter otherwise subject to indemnification by the campaign owner, in which event the campaign owner shall assist and cooperate with FundCorps in asserting any available defenses.
Confidentiality: The campaign owner acknowledges that the information, including, without limitation, any technical and financial information or information relating to any Funder or potential Funder that he/ she/ it has received or will receive in connection with this Agreement, is considered private and confidential (the "Confidential Information").
The campaign owner shall use all reasonable diligence and a high degree of care to prevent the unauthorized disclosure, reproduction or distribution of such Confidential Information to any other individual or entity.Confidential Information will exclude:
information that is already in the public domain; information already known to the receiving party, as of the date of the disclosure, unless the receiving party agreed to keep such information in confidence at the time of its original receipt
information hereafter obtained by the receiving party from a source not otherwise under an obligation of confidentiality with the disclosing party
information that the receiving party is obligated to produce under order of a court of competent jurisdiction, provided that the receiving party promptly notifies the disclosing party of such an event so that the disclosing party may seek an appropriate protective order
Termination: Without prejudice to any other rights, FundCorps shall have the right to terminate this Agreement at any time, by giving the campaign owner a prior written notice by e-mail of 15 days. Subject to payment of all outstanding dues and meeting all his/ her/ its obligations including those to the Funders, the campaign owner shall have the right to terminate this Agreement by giving FundCorps a prior written notice by e-mail of 30 days.
Severability: The provisions of this Agreement are severable if any one or more such provisions shall be determined to be invalid, illegal or unenforceable, in whole or in part, and the validity, legality and enforceability of any of the remaining provisions or portions thereof shall not in any way be affected thereby and shall nevertheless be binding between the parties hereto. Any such invalid, illegal or unenforceable provision or portion thereof shall be changed and interpreted so as to best accomplish the objectives of such provision or portion thereof within the limits of applicable law.
Assignment: The campaign owner hereby acknowledges and agrees that he/ she/ it is prohibited from assigning the rights and obligations under this agreement. However, FundCorps may assign its rights and obligations under this Agreement at any time, including but not limited to in a sale of the website.
Dispute resolution: If any dispute, disagreement, controversy or claim between the parties arises out of or in connection with this agreement, including the breach, termination or invalidity thereof (a dispute), the parties shall use all reasonable endeavors to negotiate with a view to resolving the dispute amicably. If a party gives the other party notice that a dispute has arisen and the parties are unable to resolve the Dispute amicably within 30 days of service of the dispute notice, then the dispute shall be referred to arbitration by a sole arbitrator appointed by FundCorps accordance with the arbitration and conciliation act, 1996 (as amended, restated or substituted, in force at the relevant time) to be conducted in the English language at Mumbai;The arbitral award shall be reasoned and shall be final and binding on the disputing parties. The existence or subsistence of a dispute between the parties, or the commencement or continuation of arbitration proceedings, shall not, in any manner, prevent or postpone the performance of those obligations of the parties under the agreement which are not in dispute, and the arbitrators shall give due consideration to such performance, if any, in making a final award. Nothing shall preclude a party from seeking interim or permanent equitable or injunctive relief, or both. The pursuit of equitable or injunctive relief shall not be a waiver of the right of the parties to pursue any other remedy or relief through the arbitration
Exclusions & clarifications for school/college, corporate and group campaigns : These are campaigns that FundCorps does for campaign owners who are NGO's/ Trust/Colleges and non-profits the following terms will apply. These can be done with a school or a company or a group of individuals. FundCorps will take responsibility for helping and creating the content for these NGO's. While the data, facts, costs of the program and images are given by the campaign owner, the content will be created by FundCorps. The responsibility of giving accurate information and images without any copyright issues will still rest with the campaign owner (ie with the NGO/ Non-profit/College).
The execution of these campaigns will be done completely by FundCorps at corporates once the campaign story and draft is approved by the campaign owner by email. The campaign owner can further market these campaigns if they choose to. While these campaigns are being done on FundCorps platform, the NGO's can work on parallel crowdfunding campaigns outside India ( exclusivity clause exception) but not in India with other crowdfunding platforms. The campaign owner in such cases will be responsible for issuing 80G receipts within 7 working days of the funds being received from FundCorps to all funders. The campaign owner and also for giving report in a pre-agreed format on funds use only. This feedback has to be sent to the project manager at FundCorps and upon approval, the report can be shared with funders over email or through FundCorps portal as decided mutually.
Governing law and jurisdiction: This Agreement shall be governed by and construed under the laws of India and shall be subject to the exclusive jurisdiction of the courts at Mumbai, India
Amendments or modifications: FundCorps reserves the right to amend, modify, replace, or discontinue this agreement or any or the whole of the platform at any time and in its sole discretion without any notice or liability whatsoever.
Effectiveness: This Agreement shall be effective and in full force from the time that the campaign owner accepts the terms of this Agreement
BY USING THE WEBSITE WWW.FUNDCORPS.COM, YOU GIVE US CONSENT TO BE BOUND BY AND ARE BECOMING A PARTY TO THIS AGREEMENT. IF YOU DO NOT AGREE TO ALL OF THE TERMS OF THIS AGREEMENT, KINDLY DO NOT USE THE WEBSITE.