TERMS AND CONDITIONS OF THE LOAN SERVICE

  1. Definitions

User or Lender: natural or legal person who donate or loans virtual currencies via the EthicHub platform.

Representative of the Community or Borrower: natural person who represents the farming communities for the signing of the collaborative loan generated via the EthicHub platform.

Collaborative loan or loan : credit integrated by different contributions in virtual currencies of the lenders, selected in the local Node or Selector, and whose purpose is the financing of farming communities, which are represented by the Borrower.

Local Node or Selector: Natural person in charge of selecting the communities of farmers to be financed, supporting these communities through the logistic and organizational services necessary to request a loan on the EthicHub platform, and representing the lenders in the signature of the collaborative loan with farmer communities. DAI or Multi-Collateral Dai (MCD): virtual currency used by the EthicHub Platform for loans. It is the advanced version of the DAI cryptocurrency, which offers a stable exchange rate as it is linked to the US dollar (USD).

  1. Scope

These Terms and Conditions (T&C) and any other terms published in the web of LENDINGDEV Ltd., https://ethichub.com, shall be applicable and binding on any person with the legal capacity to accept them who contracts the services of the EthicHub platform in its “beta” version for the contracting of collaborative loans.

  1. Restriction:

The services of the platform may not be contracted by citizens, residents and / or tax residents and persons located in Canada, China or the United States of America (USA), as well as in Puerto Rico and the Virgin Islands as well as any other USA possession or from any other jurisdiction where the contracting of services through virtual currencies is illegal. It is forbidden to contract services to representatives and natural persons acting on behalf of legal persons registered in the jurisdictions and territories indicated above or registered in any other jurisdiction from which the purchase of Tokens is prohibited.

  1. Risks

You recognize and accept that the contracting of the services of collaborative loans by way of the Blockchain technology introduced by the Ethereum platform used by EthicHub involves major financial, regulatory and reputational risks, including, but not limited to, those set out in the SINGLE ANNEX of these T&C.

By the contracting of the service included in the EthicHub Platform and accepting these Terms and Conditions, you expressly recognize, accept and assume these risks, as well as the terms of the loan.

  1. Object and acceptance of the general conditions.

The object of these Terms and Conditions is the contracting of a collaborative loan service via which users will be able to contribute resources, through virtual currencies to Farming Projects in unbanked areas by way of blockchain technology and by means of smart contracts included in the EthicHub platform.

Acquisition of the status of user or lender permits the use of the collaborative loan services, for which prior identification and contracting of the service by way of the EthicHub platform will be necessary.

The status of User may be acquired by persons of legal age with full capacity to enter into these Terms and Conditions of Use.

Acquisition of the status of User involves the reading and express unreserved acceptance both of the terms making up the present Terms and Conditions and of the Legal Notice and Privacy Policy of the EthicHub platform, which he states to have learnt prior to his acceptance, while the foregoing may be stored and reproduced by the latter. Registration as a User of the Website is an essential prerequisite for the contracting of the services of EthicHub platform.

The User may gain access to the Service via the EthicHub platform by using the username and password that will be generated during the registration process when he accepts the present Terms and Conditions of Use.

The username and password generated which will allow the User to be identified and to use the service are of a strictly personal and confidential nature. The User shall be responsible for maintaining the confidentiality of same. Accordingly, the User expressly accepts that EthicHub may presume that the uses of the service made by utilizing his identification codes are made by the registered user, unless he has given prior notice of their loss or theft, in which case he should proceed to change them immediately. The password may be changed at will by the User by way of the procedures that the EthicHub platform has laid down for this purpose. The password replaced will be cancelled as a means of identification at the same time as the new one is generated.

EthicHub may block access and use of the service when it so considers necessary for security reasons. The Service will be blocked automatically in the event of three errors taking place in the consignment of the User codes for access or use.

EthicHub will take the organizational and technical measures in its data processing equipment with a view to achieving proper use of the Service by the Users and prevent unauthorized accesses to its platform.

  1. Content of the Services

The services offered by the EthicHub platform consist of the creation of collaborative loans by way of smart contracts using the blockchain technology of the Ethereum platform. To this end, via its Local Nodes, EthicHub will select a Borrower who has a solvent farming project, capable of returning the loan contracted at the EthicHub platform, with payment of the interest stipulated.

The borrower will publish on the EthicHub Platform detailed information on the development of his project, the amount necessary for the development of the project, the interest rate offered, as well as the information indicated in section 8 of these terms and conditions.

When the project and the amount required for its development have been selected, it will be programmed and entered into the EthicHub platform so as to be passed on to persons interested or users of the Platform.

The lenders or those users interested in the project may contract the collaborative loan service by contributing to the selected smart contract the amount of resources in virtual currency DAI that they deem appropriate, without there being a greater limit for the contribution than the amount expressly established in the loan. Notwithstanding the foregoing, contributions made by credit or debit card do have a maximum limit of one thousand euros (€ 1,000).The operation of the platform is restricted to the use of Multi-Collateral DAI, so lenders must previously have DAI in their wallet or purse previously linked to the user account of the EthicHub platform, or use the available DAI buying and selling services from the EthicHub platform. Similarly, users who have ETHERS in their wallet or purse previously linked to the EthicHub Platform must exchange them for DAI in order to participate in new projects.

In order to facilitate the change to DAI, from the EthicHub platform you can make changes from ETHER to DAI for those users who wish. For this, an integration has been made with the exchange service offered by the Paraswap decentralized aggregator https://paraswap.io/, the relationship between the user and Paraswap being governed in this area by the terms and conditions of the latter.

The realization of transactions in the distributed network of Ethereum requires the payment of small amounts of Ethers (called “gas”) that allow to finance the operation of the blockchain. To facilitate user accessibility, EthicHub will be responsible for the cost of gas for transactions made with DAI from its own platform. To this end, a contract has been signed with the Gas Station Network, which allows EthicHub to maintain a balance from which to make such contributions safely. EthicHub only undertakes to defray the cost of the “gas” of the operations in cases where a reasonable use of the service is made.

The Lenders accept that their contribution of virtual currencies to any of the available projects implies the acceptance of the terms and conditions on which the same will be developed, as well as the terms and conditions of each loan.

When the smart contract has reached the total economic amount of virtual currencies needed for the development of the project, it will be closed automatically, which should be validated by the Local Node or Selector, and communicated to the lender by sending an email to the user's email address.

The Local Node or Selector, on behalf of all the lenders or users, will verify the terms and conditions in which the project and the collaborative loan will be developed, validating the period of time established, the amount of virtual currencies and their equivalent economic amount in both euros as in the currency of the country of origin of the project, and will release the economic resources to the Lender.

The Lender acknowledges that the acceptance of the contributions of the borrowers constitutes an obligation to pay them principal and interest under the terms and conditions published on the EthicHub Platform and in accordance with the information indicated in section 8, which will always be available to the Borrower.

At the end of the period laid down in the Farming Project, the Legal Representative or Borrower will proceed to repay the amount of the Collaborative Loan plus the interest, the outcome of which will be equal to the number of virtual currencies needed to reach the economic amount set in the local currency of the Farming Project.

  1. Requirements to obtain User status.

Users should have a device connected to the Internet connection with a Firefox or Chrome browser.

They should have an Electronic Purse or Wallet compatible with DAI associated with ETHICHUB Platform, which will be the virtual currency used to make loans to the Farming Project. If the user doesn’t have one, EthicHub makes it easy for you to generate a Wallet in your browser.

They should have the status of user of the EthicHub platform and have accepted the Privacy Policy and the present T&C.

They should have passed the Know Your Customer (“KYC”) and Formal Identification process in the sphere of Money Laundering. Otherwise, you can continue making contributions in DAI to projects within the platform and whenever it is in DAI, but you cannot withdraw the corresponding amounts. Nor can you make contributions via credit card.

  1. How to contribute virtual currencies to the Project

For the contracting of the service, it is necessary to hold User status, for which it will be necessary to have previously registered and identified by providing the requested data on the platform, a photograph of a valid identification document and a photograph of the user holding said document, as well as Have your own wallet created on ETHICHUB Platform.

The Project in which you will be able to make the contribution of the virtual currencies will have the following information included:

  1. Features of the Farming Project: location, kind of business and other details and characteristics of the Project or Projects that it comprises.

  2. Total economic amount expressed in euros and in local currency required by the Project.

  3. The due date of the loan.

  4. Expenses and interest that will be generated by the service.

  5. Validity conditions of the Project, when applicable.

  6. Deadline or time limit for obtaining the loan.

  7. The percentage expressed in the annual Interest corresponding to the contribution.

Once the Project has been selected, the system will generate a page that will recapitulate the terms of the operation: the features of the Project, the number of virtual currencies to be paid, the financing process, the scheduled date of repayment, the interest, the local hub sponsoring it, the data of the community to which it is addressed and the Ethereum address of the smart contract to which it refers.

There are two ways to contribute DAI to the Projects:

I. Contribution with own Wallet

The user must have previously contributed or charged to his account or wallet the sufficient balance that allows him to make the contribution. To do this, you must link an existing compatible Wallet (by entering the 12 seed words in the Import Wallet section) or use Metamask or, failing that, generate a wallet from the platform and upload or send DAI to the latter, using the services of sale of DAI that makes available to you EthicHub or any other service of sale of DAI performed by third parties.

If the user is satisfied, he will indicate the amount of virtual currency (DAI) to contribute and press the button enabled to start the operation.

Next, the User will be asked to validate the service by accepting, in this case, each and every one of the contracting conditions and to make the contribution to the public address of the smart contract that the platform shows him.

As soon as the User has definitively validated the contribution to be made to the project, a transfer will be generated that must be signed by the private key of the ERC20 portfolio of the user, producing the transfer of virtual currency transfer to the smart contract or Blockchain.

II. Contribution with Credit Card

Contributions may also be made via credit or debit card. Contributions made in this way are limited to a maximum amount of one thousand euros (€ 1000). In relation to this medium, it is recalled that EthicHub is not a service for the sale or exchange of virtual currencies. What allows this feature of the platform is to make a transfer to a checking account of which EthicHub is the owner; Once payment is received, it will acquire DAI in an amount equivalent to that transferred in fiat money at the price of the moment of receipt of this and will deposit them in the Smart Contract in the name and on behalf of the user using their own wallet. Therefore, EthicHub will act as a mere intermediary.

To recover the virtual currencies (both at the end of the Project and in case of cancellation), the User must also have, in this case, an own Wallet created on ETHICHUB Platform, since EthicHub needs its address to register it as a beneficiary in the Smart Contract. Recall, in this sense, that owning a wallet created on ETHICHUB Platform, is an indispensable condition for acquiring user status in any case.

Once the contribution has been made successfully in both cases, an email will be sent to the user confirming the expiration date. In it you will also find a link to the project page, which will contain all the relevant data of the same.

If the project fails to raise its goal in the established period, the user who has contributed will be notified that he can withdraw his contribution on the project page. The user must press the corresponding button, which will generate the transfer of withdrawal of the contribution that must be signed by the private key of the ERC20 wallet of the user, producing the transfer of virtual currency transfer to the User's Portfolio.

If the project receives sufficient contributions, the smart contract will deposit the virtual currencies in the borrower's electronic wallet, at which time a confirmation will be received by email.

  1. Repayment of the Loan

By way of the smart contract created for the Project or Loan contracted by the users, the Representative of the Farming Community or Borrower will repay the economic amount of the Collaborative Loan at the due date of the loan equivalent to the number of virtual currencies needed to reach the overall economic amount of the loan plus interest.

For projects in which Ethers would have participated (before the change to DAI on the EthicHub platform was carried out), the return will take place in this same currency, in the same way as those that have been made in Multi-Collateral DAI will be returned in DAI Multi-Collateral.

Finally, in order to withdraw the corresponding amounts as a result of the loans, you must have carried out the identification procedure for money laundering (KYC). If you are not identified, EthicHub cannot proceed to your return.

In order to withdraw funds from the Smart Contract, the user must access the corresponding project page, click on the withdrawal button, sign with his wallet and generate the transaction that orders the Smart Contract to withdraw funds to the user's wallet .

The user will receive an email with the receipt of the transaction generated, or a warning if there was any problem with it.

  1. Interest Generated

The collaborative loan service will generate interest on the virtual currencies provided by the users that will be returned by the Borrower to the Smart Contract in compliance with the conditions requested and registered in the smart contract.

  1. Obligations

The User is under the obligation to:

  1. Inform the EthicHub platform of all the data needed for access and use of the services requiring prior identification, which should be accurate, up to date, and conforming to reality.

  2. Take the security measures, both personal and material, necessary to maintain the confidentiality of his username and password, as well as notify EthicHub immediately of the loss, mislaying, theft, robbery of his username, or illegitimate access thereto, as well as of its becoming known by third parties.

  3. Make proper use of the Services included in the EthicHub platform, always in accordance with current legislation.

  4. Not to carry on any activity that will impair or interfere with the working of the Services included in the EthicHub platform.

  5. Review in detail all the information published on the EthicHub Platform on available collaborative loans.

  6. Provide the virtual currencies that you have decided to contribute to the collaborative loan through the EthicHub Platform.

  7. Comply with your tax obligations in your home country for the increases in equity generated by the loan.

  8. Comply with its obligations in the matter of Prevention of Money Laundering and, in particular, not to provide false information or little faithful to reality during the KYC process.

The User shall be liable for the damages that he may have caused to third parties through the data supplied, of an illustrative and non-restrictive nature, as a result of the following actions:

  1. Use of data not updated, false or not corresponding to reality.

  2. Use by third parties of the User’s personal codes.

  3. From the inclusion in the EthicHub platform of comments or contents that might be injurious, obscene, xenophobic, that represent an apology for violence, or which are an offence against morality, law and order, constitutional rights or prove contrary to current legislation.

EthicHub is under the obligation to:

  1. Supply the access codes to the service, as well as to assure its confidentiality and integrity.

  2. Attend with all due diligence to all the consultations that may be made by the User stemming from the utilisation of the services included in the EthicHub platform.

  3. Manage the data of your investors with absolute confidentiality, committing not to disclose the data of your investors or share them without your consent.

  1. Loan terms

By accepting these T&C, the lender and the borrower expressly accept and acknowledge the following:

i. That the contribution and acceptance (respectively) of virtual currencies through the EthicHub Platform, constitutes for both parties their voluntary acceptance of the terms and conditions on which the collaborative loan will be developed and that it is formalized through the offer and Acceptance and offer through the platform.

ii. The borrower agrees to give the use described in the project published on the EthicHub platform to the amount received in virtual currency, unconditionally refraining from allocating funds from it for any other purpose.

iii. The borrower undertakes to pay the capital and interest in accordance with the terms and conditions published on the EthicHub Platform derived from the loan agreements they subscribe, through the means provided in the Platform.

iv. Failure by the borrower will result in the lender to judicially or extrajudicially demand the payment of the obligation, without prejudice to the compensation for damages and credit that may proceed, responding to the borrower with all his present and future assets, except that said breach or delay originates due to fortuitous or force majeure.

v. Unless otherwise agreed, in case of default, the user will delegate his powers of action to the local node, who will be responsible for carrying out the necessary steps to achieve compliance with the obligations assumed by the borrower.

  1. Limitation of responsibility

EthicHub, our employees, directors, contractors, consultants, or consultants do not assume any responsibility, present or future, arising from the risks established in the SINGLE ANNEX and do not offer any guarantee with respect to this T&C. This limitation will not exclude liability for malicious or criminal behavior, in which case, the user may take appropriate legal action.

If you do not have the necessary knowledge for the use of Blockchain services and systems, being fully aware of the risks established in the SINGLE ANNEX, associated with the contracting of collaborative loan services and the use of Blockchain, it is recommended not Participate in the service contracting process.

If a provision of these T&C is found to be void, voidable, illegal, not invoked or unenforceable in whole or in part, the validity, legality or application of the other provisions of the terms will not be affected or altered in any way. The other provisions of the T&C remain in force and retain their full effect.

EthicHub is not responsible for tax charges that may arise from the use of the Services for any of the Users.

EthicHub is not responsible for any risks to which users who interact with Smart Contracts directly, from outside the Platform, are exposed; EthicHub has been designed to offer the highest possible security guarantees, but cannot respond for events occurring outside its Platform.

  1. Integration with PARASWAP

In order to facilitate the exchange of other tokens to DAI, from its EthicHub platform it makes available to users who wish it an integration with the exchange service offered by a third party, the external token exchange provider.

Paraswap https://paraswap.io/#/ is a decentralized aggregator (DEX) that publishes purchase and sale orders for private exchange purposes between token holders, the relationship between the user and Paraswap being governed by the terms themselves and conditions Paraswap. EthicHub will not be responsible for the risks or losses associated with the exchange of virtual currencies made through decentralized aggregators or by any other means outside its Platform, even when it has been referred to it from or on the page, since its use It is left to the user's entire choice, in any case. The user must know the terms and conditions of the exchange or aggregator he chooses, since they will be the ones that regulate his specific relationship with him and, specifically, the regime of responsibilities.

  1. PRIVACY POLICY

For further information on our data protection and privacy policy, consult our Privacy Policy.

  1. Applicable law and competent jurisdiction

These T&C and any relations stemming from them are governed by Spanish legislation.

The parties should attempt to settle any dispute or claim that may arise from or in relation to these T&C in good faith by means of negotiations between them, through an agreed alternative dispute settlement procedure or else, failing agreement, the dispute should be submitted solely to the jurisdiction of the courts and tribunals of Madrid (Spain).

SINGLE ANNEX

RISK FACTORS

THE MOST EVIDENT RISK FOR THE ETHICHUB COLLABORATIVE LOANS PLATFORM IS THE IMPAYMENT OF THEMSELVES, THEY CANNOT BE RESPONSIBLE FOR SUCH IMPAYMENT ETHICHUB OR ANYONE LINKED WITH ETHICHUB AS THE COST OF ASSUMING THIS INVOLVES THIS RISK. MEMBERS OF THE ETHICHUB TEAM HAVE EXPERIENCE IN THE GRANTING OF CREDITS OF SIMILAR CHARACTERISTICS, BUT IT IS NOT POSSIBLE TO COMPLETELY DELETE THE RISK OF PAYMENT THAT MAY HAVE ORIGIN IN MULTIPLE CAUSES THAT CONTINUOUSLY DISCLAIM WITH ANY FACTS OF ETHICHUB.

  1. Risk of software weaknesses: because the smart contract system and the EthicHub platform are based on the Ethereum protocol, any malfunction, breakdown or abandonment of the Ethereum protocol may have an adverse effect on the service, the smart contract system or the EthicHub platform. Moreover, advances in cryptography, or technical advances such as the development of quantum computing, could present risks for the service, the smart contract system or the EthicHub platform, by rendering ineffective the cryptographic consensus mechanism that underpins the Ethereum protocol. The smart contract system concept, the underlying software application and platform (i.e. the Ethereum blockchain) is still at an early stage of development and unproven. There is no warranty or assurance that the provision of the collaborative loan service will be uninterrupted or error-free because there is an inherent risk that the software could contain defects, weaknesses, vulnerabilities, viruses or errors causing, inter alia, the complete loss of the contributions made for the provision of the service.

  2. Regulatory risk: blockchain technology allows new forms of interaction and it is possible that certain jurisdictions may apply the existing regulations or introduce new regulations addressing the blockchain technology based applications, which may be contrary to the current setup of the smart contract system and which may, inter alia, result in substantial modifications to the Smart Contracts system and/or the EthicHub platform, including its termination and the loss of the cryptocurrencies supplied by the users. Additionally, regulation of proposed activities of the EthicHub platform is currently uncertain. It is not known what regulatory framework the proposed EthicHub platform and its associated activities will be subject to, the nature and obligations that will be imposed on EthicHub in order to comply with any such regulatory framework or when/if EthicHub will even be able to apply to be regulated, or successfully obtain the necessary licences so that it may lawfully carry out its proposed business activities.

  3. Risks associated with uncertain regulations and enforcement actions: the regulatory status of virtual currencies and DLT (Distributed Ledger Technology) is unclear or unsettled in many jurisdictions. It is also impossible to predict whether the authorities will implement legislative and regulatory changes that affect DLT technology and its applications, and the meaning of such changes, including the EthicHub platform and the ETHEREUM blockchain.Regulatory actions could negatively impact the EthicHub platform in various ways, including, by way of example only, the determination that the virtual currency used for the provision of the service is a regulated financial instrument that requires registration or licensing. EthicHub may cease operations in a jurisdiction in the event that regulatory actions, or changes to law or regulation, make it illegal to operate in said jurisdiction, or commercially undesirable to obtain the necessary regulatory approval(s) to operate in said jurisdiction.

  4. Risk of abandonment/lack of success: the collaborative loan service via smart contracts and the development of the EthicHub platform may be abandoned for a number of reasons, including lack of interest from the public, lack of funding, lack of commercial success or prospects (e.g. caused by competing projects). There is no assurance that, even when the virtual currency has been supplied, the collaborative loan can be created and the specified profit and interest obtained.

  5. Risk of losing access to tokens due to loss of keys, custodial error or other user errors: the virtual currency used for the provision of the service can only be accessed by using an Ethereum wallet with a combination of the contributor’s account information (address), private key and password. The private key is encrypted with a password. You acknowledge, understand and accept that if your private key or password gets lost or stolen, the economic amount of the total of the virtual currencies supplied plus the interest that will be returned to you by the smart contract when the service has terminated are associated with your Ethereum wallet and therefore may be unrecoverable and permanently lost. Additionally, any third party that gains access to your private key, including by gaining access to the login credentials relating to your Ethereum wallet, may be able to misappropriate your virtual currencies. Any error or malfunction caused by or otherwise related to the digital wallet or vault that you choose to receive and store the virtual currencies, including your own failure to properly maintain or use said digital wallet or vault, may also result in the loss of your virtual currencies.

  6. Risk of theft: the Smart Contract System concept, the underlying software application and software platform (i.e. the Ethereum blockchain) may be exposed to attacks by hackers or other individuals including, but not limited to, malware attacks, denial of service attacks, consensus-based attacks, Sybil attacks, smurfing and spoofing. Any such successful attacks could result in theft or loss of contributions to the collaborative loan, adversely impacting the collaborative loan service developed by the EthicHub platform. Furthermore, because the EthicHub platform is based on open source software, there is a risk that a third party or a member of the EthicHub team may either intentionally or unintentionally introduce weaknesses or defects into the core infrastructure of the EthicHub platform, which could negatively affect both the EthicHub platform and the virtual currencies contributed.

  7. Risk of Ethereum mining attacks: as with other cryptocurrencies, the blockchain used for the Smart Contract System is susceptible to mining attacks, including but not limited to double-spend attacks, majority mining power attacks, “selfish-mining” attacks, and rare condition attacks. Any successful attack presents a risk to the Smart Contract System, expected proper execution and sequencing of token transactions, and expected proper execution and sequencing of contract computations. You understand and accept that the network of miners will ultimately be in control of the contributions and deliveries of the virtual currencies via the Smart Contract System, and that a majority of miners could agree at any point to make changes, updates, modifications to, or effect a deletion or destruction of the Smart Contract System, and that such a scenario could lead to the virtual currencies losing intrinsic value and/or functionality.

  8. Risk of incompatible wallet service: the wallet or wallet service provider used to contribute and receive virtual currencies must conform to the ERC20 token standard in order to be technically compatible with EthicHub service. The failure to ensure such conformity may have the result that you will not gain access to your virtual currencies.

  9. Risk of uninsured losses: unlike bank accounts or accounts at some other financial institutions, the virtual currencies used for the provision of the service are uninsured unless you specifically obtain private insurance to insure them. Thus, in the event of loss or loss of utility value, there is no public insurer or private insurance arranged by EthicHub to offer recourse to you.

  10. Risks arising from taxation: the tax characterization of virtual currencies is uncertain. You must seek your own tax advice in connection with acquisition, storage, transfer and use of the virtual currency and the consequences that they may entail, such as transfer taxes, value added taxes, income taxes and the like, levies, duties or other charges and tax reporting requirements.

  11. Risk of dissolution of EthicHub or the network: it is possible that, due to any number of reasons, including, but not limited to, an unfavourable fluctuation in the value of ETHEREUM (or other cryptographic and fiat currencies), decrease in the utility of virtual currencies due to poor adoption of the EthicHub platform, lack of commercial relationships, or intellectual property ownership challenges, the EthicHub platform may no longer be viable to operate and that EthicHub may dissolve and not be able to continue the development of its platform.

  12. Risks arising from the market in which the Ethic Hub Platform operates: the crowdlending market and by extension the EthicHub platform, is subject to a variety of laws and regulations, competition, KYC/AML and customer due diligence procedures, privacy and data protection, consumer protection, data security, and others. These laws and regulations, and the interpretation or application of these laws and regulations, could change. In addition, new laws or regulations affecting the EthicHub platform could be enacted, which could impact the utility of the virtual currencies used in the service offered by the EthicHub platform. Additionally, EthicHub platform users are subject to or may be adversely affected by industry-specific laws and regulations or licensing requirements. If any of these parties fails to comply with any of these licensing requirements or other applicable laws or regulations, or if such laws and regulations or licensing requirements become more stringent or are otherwise expanded, it could adversely impact the EthicHub platform and the virtual currencies used in the service, including its functionality to obtain or provide services within the EthicHub platform.

  13. Risks associated with the development and maintenance of the EthicHub platform: the EthicHub platform is still under development and may undergo significant changes over time. Although we intend for the collaborative loan service in its beta version and the EthicHub platform to function as described in these T&Cs and their Annexes, and intend to take commercially reasonable steps towards those ends, we may have to make changes to the specifications of the service or the EthicHub platform for any number of legitimate reasons. Moreover, we may not be able to retain full and effective control over how other participants will use the EthicHub platform or what products or services will be offered through it by third parties. This could create the risk that the service or the platform, as further developed and maintained, may not meet your expectations at the time of contracting the service. Furthermore, despite our good faith efforts to develop and participate in the Ethic Hub platform, it is still possible that it will experience malfunctions or otherwise fail to be adequately developed or maintained, which may negatively impact the EthicHub platform and the service contracted.

  14. Risk of competing platforms: it is possible that alternative platforms could be established that utilize the same open source code and protocol underlying the EthicHub platform and attempt to supply services that are materially similar to the services offered by or within the EthicHub platform. The EthicHub platform may compete with these alternatives, which could negatively impact the EthicHub platform and the service.

  15. Risk of non-payment by borrowers: There are many factors that may lead to a non-payment, particularly poor selection of borrowers by the local node and the risks due to the farming activity of the borrowers, such as for instance the weather or pests.

  16. Malicious Local Hub risk: despite the excellent screening process employed by EthicHub in the selection of Local Nodes, it is impossible to guarantee that they will always act in good faith. An act of bad faith by the local nodes could lead to total non-payment of the loans, amongst other reasons because the project has been falsified by the Local Nodes.

  17. Exchange rate risk: since the loans are denominated in the borrower’s local currency, if this were to devalue significantly, the investor could suffer losses even though the borrower repaid the principal and the loan interest duly and on time.

  18. Unanticipated risks: cryptographic tokens such as ETHER are a new and unproven technology. In addition to the risks set out in this SINGLE ANNEX to these T&Cs, there are other risks associated with their acquisition, storage, transfer and use, including those that EthicHub may not be able to foresee.