UCG TRUST GENERAL TERMS AND CONDITIONS OF PORTAL USER AGREEMENT
banking day on which banks and other payment offices process payment transactions.
User’s Bank account
an account opened in the name of the User in a financial institution, subject to the provisions of Law On the Prevention of Money Laundering and Terrorism Financing or the requirements arising from European Union laws concerning the prevention of money laundering and terrorism financing.
User’s Portal-ID Number
a personalized number of each User of the Portal, used by UCG TRUST to identify the User.
the User’s personal page on the Portal, which is automatically created after the User registers on the Portal and is constantly available to the User after entering the User’s email address and password on the Portal.
a person registered on the Portal as its user.
an agreement of the user of www.ucgtrust.com Portal concluded between the User and UCG TRUST.
UCG Marketplace LTD
UCG TRUST Account
the bank account/-s indicated on the Portal, where (pursuant to the present Terms and Conditions) the User’s funds are deposited for investment.
Terms and Conditions
the present terms and conditions of UCG TRUST Portal user agreement, applicable to all User’s agreements and transactions entered into by the User via the Portal.
mercantile systems created and administrated by UCG TRUST, merged under the domain name www.ucgtrust.com and allowing the Users to use various interactive services offered by UCG TRUST and functioning within the framework of the site.
the User and UCG TRUST.
an application prepared by the User on the Portal in compliance with Section 2 of the Terms and Conditions for the registration on the Portal and for the use of the offered services in compliance with the Terms and Conditions.
separate account that UCG TRUST provides each user for accounting of its invested funds and the interest accrued on the investments.
Person/entity that receives UCG TRUST funds through its lending platform as a business loan, paying interest and fees for the use of funds.
2. Registration on the Portal and creation of a User Profile
2.1. Only registered Users, who have concluded an Agreement with UCG TRUST, are entitled to use the services offered on the Portal.
2.2. By submitting a Registration Application, the User confirms that, he/she/it is eligible to create User's Profile based on the following criteria:
2.2.1. the User is a natural person or legal entity;
2.2.2. if the User is a natural person, the User must be at least 18 years old;
2.2.3. the User must have a Bank Account, and the User must be authorized to freely handle such account and funds contained therein (if any);
2.2.4. no insolvency procedures of the User have been announced.
2.2.5. pursuant to a judgment that has taken effect, the User does not have limited legal capacity due to disorders of mental nature.
2.3. The User shall acknowledge that, at the time of submitting the Registration Application and at the conclusion of the Agreement, he/she/it is fully legally capacitated and is not under the influence of alcohol, drugs, psychoactive, toxic or other intoxicating substances.
2.4. The User shall register on the Portal, by filling out a Registration Application and confirming the present Terms and Conditions. After the User registration, a User’s Profile and Investment Account are automatically created on the Portal. Upon registration of the User on the Portal, UCG TRUST assigns a unique User’s Portal-ID number.
2.5. To access and use the User’s Profile, UCG TRUST identifies the User by the User’s email address and password. The User shall be entitled to change the email address and password used for User’s identification in compliance with procedures established on the Portal.
2.6. If the User is a legal entity, then UCG TRUST is entitled to identify the signatory and/or ultimate beneficiary, for whom the rights have been established by UCG TRUST, as the User.
2.7. To conclude the Agreement, which would grant the User the ability to use services offered on the Portal and to invest funds, the User must take the steps prescribed in Section 3 of the Terms and Conditions to enable UCG TRUST to identify the User.
2.8. UCG TRUST may refuse the registration of a new User on the Portal without giving a reason for refusal.
2.9. The User’s Profile is private, and only the owner of the User’s Profile (the User) is authorized to access and use the profile.
3. User identification
3.1 UCG TRUST identifies the User according to the Terms and Conditions of the internal control system of UCG TRUST in one of the following ways:
3.1.1 in person, before the conclusion of the Agreement, the User fills out the User data form and produces or submits identification documents requested by UCG TRUST;
3.1.2 remotely, as the User transfers funds into the UCG TRUST Account from the User’s Bank Account after the User registers on the Portal. In such case, UCG TRUST identifies the User, by using the information received from the bank.
3.2 In order to identify the User adequately, UCG TRUST may, at its sole discretion, at any time, upon getting in touch with the User, request additional documents or information confirming the User’s identity and unilaterally determine any additional requirements for the User identification, as well as introduce changes in the User identification process.
3.3 The Agreement between UCG TRUST and the User shall be deemed legally binding and shall become effective at the time, when the User has confirmed the present Terms and Conditions on the Portal and UCG TRUST has identified the User.
3.4 A Registration Application filed in compliance with procedures established in the Terms and Conditions and depositing funds into the UCG TRUST Account confirms that the User wishes to use the Portal and the services offered therein pursuant to the Agreement provisions.
3.5 When registering and accessing the User’s Profile on the Portal, the User must enter the User’s email address and password.
3.6 The User’s activities performed on the Portal after entering the User’s email address and password shall be regarded as the User’s signature or acceptance. All payments, payment orders, instructions, applications, agreements, as well as other documents confirmed or submitted by the User on the Portal after entering the User’s email address and password as prescribed on the Portal shall be binding upon the User and UCG TRUST.
3.7 The User’s password is deemed confidential information that the User and UCG TRUST undertake not to divulge and shall undertake all possible measures to prevent that third parties from getting access to it. The User must keep the User’s password in a secure manner, as well as regularly, however not less frequently than after a period prescribed by UCG TRUST, change/update the password.
3.8 If the User’s password has become known or may have become known to a third party, the User must immediately inform UCG TRUST about it in writing or over the telephone, at which time UCG TRUST shall block access to the User’s Profile as soon as possible, until, on the grounds of the User’s application, the User is given a new User’s password and the User has given an instruction to UCG TRUST to unblock the User’s Profile.
3.9 Access to the User’s Profile is blocked, if the User’s password is entered incorrectly 5 (five) times in a row.
3.10 UCG TRUST is entitled to, however is not obliged to, block access to the User’s Profile in cases, when UCG TRUST suspects that the User’s Profile has been accessed without due authorization, including, if UCG TRUST suspects that the User’s password has become known or may have become known to a third party or UCG TRUST has suspicions of the execution of illegal transactions, as well as in other cases at the discretion of UCG TRUST, in order to ensure safety of services, inviolability, confidentiality of the User and/or other UCG TRUST’s clients or to prevent losses that might be inflicted upon UCG TRUST or the clients.
3.11 UCG TRUST shall be entitled not to approve an instructions, provided by the User if:
3.11.1 the User fails to comply with the Terms and Conditions;
3.11.2 UCG TRUST has suspicions about the identity of the User, and UCG TRUST has not been able to contact the User to confirm the content of the Agreement;
3.11.3 the User’s instruction is unclear or distorted due to interruption in communication;
3.11.4 in other cases, stipulated in the Terms and Conditions.
4. Investment Account and investing funds
4.1 UCG TRUST shall accept funds from the User in exchange of an equivalent amount of electronic money on the User’s Investment Account. The minimum amount of funds to be credited to the Investment Account is USD 1,000, EURO or GBP.
4.2 The User shall be entitled to add funds to the Investment Account only on his/her/its own name, by wiring the funds from the User’s Bank Account to UCG TRUST Account or conduct the payment by any of the payment methods offered by the Portal.
4.3 The minimum period of investment funds is twelve (12) months. Early termination of the Agreement is permitted only in case of violation of its provisions by the Parties.
4.4 When transferring funds from Bank Account to UCG TRUST Account, the User must indicate the number of Investment Account (indicated in the payment details column, which is on the page with bank details) as the purpose of payment. If the User makes a payment without indicating the number of Investment Account, then UCG TRUST shall be entitled to consider such payment as non-executed before it is identified. UCG TRUST provides its own identity of the User, if the transfer of funds conducted by other payment method offered by the Portal.
4.5 Funds deposited by the User into the Investment Account pursuant to the present Terms and Conditions shall be kept on the UCG TRUST Account.
4.6 The funds transferred by the User to UCG TRUST in compliance with the present Terms and Conditions shall be regarded as funds necessary for conducting of affairs.
4.7 The relevant amount of money in bank, in essence, is a claim (towards the bank) that UCG TRUST has acquired on behalf of and for the User only to perform the task assigned to the authorized person. Accordingly, the respective funds are separated from the UCG TRUST property and shall not appear on the financial statements of UCG TRUST. The User shall confirm that, when depositing the funds into the UCG TRUST Account, he/she/it shall not be fully depositing the said funds to form a part of UCG TRUST property, but instead he/she/it shall retain the necessary rights to demand towards UCG TRUST for the amount indicated on the Investment Account.
4.8 The User shall deposit funds into the UCG TRUST Account to supplement the Investment Account in the USD, EURO or GBP. If the User is making a payment in a different currency, then UCG TRUST may, at its sole discretion, exchange the relevant amount according to an exchange rate established by UCG TRUST financial institution on the day of receiving the payment. Any costs related to money deposits shall be borne by the User.
4.9 Investment Account is considered open at the time of transfer funds to it in the manner specified by these Terms and Conditions. After opening the Investment Account, the selected investments criteria cannot be changed.
4.10 The user may open multiple Investment Accounts with various periods and investing in different currencies.
4.11 For the usage of funds that were credited to the Investment Account, UCG TRUST counts and pays for User’s interest.
4.12 The interest rates and any possible investment periods are placed on the Portal. Interest is accrued on a monthly basis after 1st (first) day of the month for the previous month in the User’s profile and the corresponding amount of interest can be transferred to the Bank account by the User.
4.13 The principal amount of investment to be returned at the end of the period for which the investment was made. Payment shall be made by the same Terms and Conditions that apply to accrued interest.
4.14 If the User wishes that UCG TRUST disburses the funds to a different Bank account, from which the User has not previously transferred funds into the UCG TRUST Account, before submitting an application on the disbursement of funds, User shall provide UCG TRUST with all of the information that is necessary to make sure that the indicated new account is opened in the name of the User in a financial institution, which is subject to the provisions of Law On the Prevention of Money Laundering and Terrorism Financing or the requirements arising from European Union laws concerning the prevention of money laundering and terrorism financing.
4.15 It is illegal to deposit funds gained through unfair means into the Investment Account. In case of such suspicious transactions, the relevant authorities shall be notified, which can lead to freezing all funds on the account, as well as to closing of the account.
4.16 If at the time of registering a User or during the period of validity of the Agreement, suspicions arise about money laundering, terrorism financing, or an attempt at either of these activities to UCG TRUST, UCG TRUST shall be entitled to not register a User on the Portal, not accept funds from the User and/or block access to or close the User’s Profile and/or Investment Account.
5. User’s rights and obligations
5.1 The User shall undertake:
5.1.1 not to use the Portal for illicit conduct, including fraud, money laundering and terrorist financing;
5.1.2 upon registration on the Portal and when using the Portal, to provide only true information;
5.1.3 to use only secure means and devices of electronic communications and data transfer;
5.1.4 to promptly, however no later than within 3 (three) Business Days, to inform UCG TRUST in writing, if the User’s name, surname, email address or other information provided on the Portal changes;
5.1.5 in communication with UCG TRUST, exercise decency and observe universal moral standards.
5.2 By confirming the present Terms and Conditions, the User asserts that he/she/it is capable of making decisions on investing funds.
5.3 The User is aware of and understands that third parties, who have obtained the User’s password, can access the User’s Profile and assume obligations on behalf of the User. If the User’s Profile is used to carry out activities on the Portal using a correct User’s email address and password, it shall be considered that the activities with the respective User’s Profile have been performed by the User himself/herself/itself.
6.1 The User shall be held liable for all losses incurred as a result of unauthorized conduct, if the User has acted illicitly or has intentionally (on purpose) or due to gross negligence failed to fulfill the requirements prescribed of the Terms and Conditions.
6.2 The User shall assume liability for all losses, assumed commitments, or other activities carried out on the User’s Profile until UCG TRUST has been warned about unauthorized access and had a sufficient time to block access to the User’s Profile.
6.3 If, as a result of imprudent activity of UCG TRUST, the User suffers losses, UCG TRUST shall reimburse all direct losses inflicted upon the User. The extent of damages is restricted with the amount of losses present in the Investment Account at the time when the losses were incurred.
6.4 UCG TRUST confirms that as part of its activities in compliance with all requirements that apply to lending, including assessment the creditworthiness of the borrower and careful examination of the authenticity, loyalty and usefulness of the data provided by the Borrower and documents providing borrowers return loans.
6.5 UCG TRUST shall be fully released from liability towards the User for any losses that the User has or might suffer as a result of using the Portal, including:
6.5.1 if the User has failed to observe the Agreement provisions;
6.5.2 as a result of illicit conduct of third parties until the moment when the User’s Profile is blocked pursuant to procedures of the present Terms and Conditions;
6.5.3 due to interrupted communications and other interruptions or obstacles that are not dependent on UCG TRUST;
6.5.4 if, pursuant to the Agreement, the User’s access to the User’s Profile has been blocked;
6.6 The Parties shall not be held responsible for failure to fulfill their respective obligations if the nonfulfillment has occurred due to reasons that are independent on the Parties’ will and have resulted from force majeure circumstances. The Parties shall consider such circumstances as force majeure circumstances, which the Parties could not have predicted or affected, including power outages, regulatory enactments adopted by institutions of European Union, strikes, military activity, natural calamities, or other circumstances, which the Parties could not have prevented or predicted. A Party may make a reference to force majeure circumstances only and solely in case if it has taken all steps that depend on it in order to fulfill the obligations prescribed in the Terms and Conditions. Once the force majeure circumstances have been prevented, the Party must immediately resume the performance of its duties.
6.7 As the Parties use means of communication during the performance of the Agreement, UCG TRUST shall not be held responsible for any losses incurred due to interrupted service of mail, facsimile, electronic or other means of communication, as well as technologies ensuring the respective UCG TRUST services, including, but not limited to, interrupted service of means of communication, interruptions in the functioning of the Portal, electronic data exchange and payment system of financial institutions, payment institutions or electronic money institutions (incl., online banking).
7. User’s personal data
7.1 UCG TRUST is entitled to process all User’s personal data received from the User, as well as to hand over to and receive the User’s personal data and other information from third parties, databases, registries and to process it.
7.2 The purpose of processing the User’s personal data is keeping client records, offering, rendering and maintaining services, financial and statistical analysis, exercising and protection of the rights of UCG TRUST and/or User arising from the Agreement.
7.3 UCG TRUST is authorized to disclose the User’s personal data:
7.3.1 to any person related to the fulfillment of commitments arising to UCG TRUST from the Agreement (including to communications service providers, payment intermediaries, financial institutions, IT service providers, etc.);
7.3.2 to the parent company of UCG TRUST, its governing enterprise and any enterprises dependent on the governing enterprise, other companies or enterprises, which directly or indirectly have obtained a significant share in the share capital of UCG TRUST or in which UCG TRUST has obtained direct or indirect participation, insofar as such information is necessary for the performance of functions delegated to them;
7.3.3 to outsourced service providers that UCG TRUST has engaged in the provision of services arising from the Agreement, insofar as such information is necessary for the performance of functions delegated to them;
7.3.4 to UCG TRUST legal, accounting, or auditing service providers, ensuring that the said persons have undertaken not to divulge such information.
7.4 The User shall agree that UCG TRUST is using the address, email address, and/or telephone number indicated on the User’s Profile to send commercial communications about the products or promotions of UCG TRUST or companies affiliated to UCG TRUST.
7.5 UCG TRUST is authorized to call and send text messages (SMS) to the telephone number having the connection of a mobile communications operator as indicated on the User’s Profile, to send emails to the email address indicated on the User’s Profile, as well as to dispatch mail to the User’s mailing address to reach the User.
8. Termination of the Agreement
8.1 UCG TRUST is entitled to restrict the User’s right to use the Portal and/or terminate the Agreement and delete the User’s Profile without a warning, if:
8.1.1 the User breaches the present Terms and Conditions or the Assignment Agreement or otherwise illicitly uses the Portal;
8.1.2 the User has provided false or misleading information or counterfeit documents;
8.1.3 if UCG TRUST suspects money laundering, terrorism financing, or an attempt to do so, with the involvement of the User or the User’s Profile.
8.2 UCG TRUST has the right to unilaterally terminate the Agreement at any time during the validity period of the Agreement, by sending a notice to the User’s email. In such case, as of the moment of sending the notice, the User is forbidden to use its Profile.
9. Conduct in case of UCG TRUST insolvency
9.1 In case UCG TRUST becomes insolvent, the conclusion of new Assignment Agreements on the Portal shall be immediately terminated. All monetary funds equivalent to amount of the electronic money deposited into the Investment Account and the interest received from them shall be returned to the User.
9.2 In case of UCG TRUST insolvency, UCG TRUST shall be taking all the necessary steps so that a third party takes over the administration and management of the Portal, about which UCG TRUST informs all Users.
10. Other Terms and Conditions
10.1 All transactions on the Portal are executed in USD, EURO or GBP.
10.2 If the representation of the numbers in words in the text of the Agreement differs from the representation in numbers, the representation of the numbers in words shall prevail.
10.3 All notifications of Parties must be put in writing and sent to the other Party within the Portal, by mail or email, to the mailing and/or email address indicated on the User’s Profile. Notifications sent to the User’s email address shall be deemed received within 24 hours after the dispatch.
10.4 Contact UCG TRUST email address is firstname.lastname@example.org. User may use it for sending questions, recommendations and remarks.
10.5 To develop and improve the services offered on the Portal and to comply with applicable law, UCG TRUST is entitled to introduce unilateral amendments to the present Terms and Conditions, by informing all Users about such amendments.
10.6 Information about amendments in the Terms and Conditions is notified to the User at least 10 (ten) days in advance through the means of communication available to UCG TRUST to get in touch with the User. Amendments shall enter into force within 10 (ten) days as of the disclosure of the notification in the Portal or when the User accepts the Terms and Conditions in the Portal, whichever occurs earlier.
10.7 The Parties shall undertake not to divulge such information to any third parties, which derives from the present Agreement, and in cases established in the Agreement.
10.8 The present Terms and Conditions are binding until the moment, when the User’s Profile is deleted and all commitments have been fully met.
10.9 The Agreement shall be stored in the UCG TRUST database for an indefinite time period.
10.10 The Agreement is written in English.