Creators Terms and conditions
PLEASE READ THESE CREATOR'S TERMS AND CONDITIONS ("TERMS") CAREFULLY BEFORE USING THE wefund.com and wefund.co.uk WEBSITE ("SITE") OR THE SERVICE IT PROVIDES. BY USING THE SITE YOU ACKNOWLEGE THAT YOU HAVE READ AND AGREED TO THESE TERMS AND CONDITIONS. IF YOU DO NOT AGREE TO ANY OF THESE TERMS THAN YOU SHOULD CEASE USE OF THE SITE AND THE SERVICES IMMMEDIATELY.
CREATORS MUST ALSO READ AND ACCEPT THE STANDARD TERMS AND CONDITIONS, WHICH ARE INCORPORATED BY REFERENCE INTO THIS AGREEMENT.
1. Acceptance of Terms:
wefund.com / wefund.co.uk (We Fund Limited) ("Wefund") is an online fund raising platform. Wefund connects project creators ("Creators") with potential financial backers ("Backers") in the form of online pledges allowing Creators to raise money for these projects from fans, friends and family. Creators set the amount they need to raise (the "Campaign Target") in order to complete the project ("Campaign") in return for a series of perks (the "Perks") they design. These Perks are meant to incentivise the Backers in to contributing funds towards reaching the Target in the time specified by the Creator (the "Timeframe"). If and only if, the Campaign Target has been reached or exceeded within the timeframe, PayPal shall transmit the money pledged by each Backer directly into that Paypal account elected by the Creator and specified on the Registration Form. Paypal will deduct 5% from this amount and transmit this to Wefund. The Creator also must pay PayPal's own fees which comprise a fixed transaction fee (20 pence in the UK) and a variable percentage fee, ranging from 1.4%-3.4%. Wefund adds a 50 pence transaction fee to each Backer's pledge which is passed direct to the Creator at the successful conclusion of the campaign to cover part of, or all of Paypal's fees. Should the Creator's Campaign fail to reach the Pledge Target, or if the date in which to raise funds for the Campaign expires without the Campaign Target being met Wefund will neither deduct nor accept any payment previously pledged from any Backer. Wefund agrees to practice commercially responsible behaviour in collecting payments pledged by Backers and although Wefund will engage in its reasonable efforts to collect the entire funds pledged by Backers, it cannot guarantee that it will be able to collect the entire Campaign Target in circumstances which are beyond the control of Wefund. AT NO POINT WILL FUNDS IN EXCESS OF THE 5% FEE PASS INTO WEFUND'S ACCOUNT. THERE WILL BE NO MIXING OF DIFFERENT PROJECTS FUNDS. (the "Service").
Once the Creator has received monies from its Backers it must complete the project and deliver the Perks to the Backers as promised.
2. Acceptance of the Campaign by Wefund:
Creators must submit their proposed Campaigns to Wefund, who shall accept or reject the Campaign at its sole discretion and without providing any reason to the Creator. Any submissions made in respect of a Campaign must comply with the Standard Terms and Conditions, Creator's Terms and Conditions (collectively the "Terms") and the Conduct and Content Policy at the time of submission to Wefund and at all times it appears on the Site.
In the event that the Campaign and/or its Contents do not comply with the Terms and the Conduct and Content Policy Wefund reserves the right to remove the Campaign immediately from the Site, without notice to you and without explanation.
You understand and agree that you are solely responsible for your own Content and the consequences of submitting it for posting on the Site. Wefund does not endorse any Content or any opinion, recommendation, or advice expressed therein, and Wefund expressly disclaims any and all liability in connection with Content.
3. Supply of Information:
When you sign up to the Service and at any time during the Campaign you will be asked to provide information about yourself and the Campaign to Wefund. Creators will provide this information promptly and in good faith and such information shall be accurate to the best of the Creators knowledge, and the Creator shall provide all other assistance and information reasonable requested by Wefund in order that it may supply the Services in relation to the Campaign.
4. Ending a campaign early:
In the event that a Creator wants to end the Campaign before the end of the Campaign it may do so always on 30 days notice, by emailing email@example.com with their clear instructions. The Campaign will then end and no more funds will be able to be raised for it. However, Wefund reserves the right to keep the campaign up on the site (albeit in a state in which it is not able to raise funds] indefinitely.
A Creator who have reached their Campaign Target in respect of a particular Campaign is committed to completing the Campaign as set out on the Site and to carry out those acts as promised to the Backers. If for any reason this is not possible the Creator must immediately inform Wefund of this fact in writing, and cooperate fully and in the utmost of good faith with Wefund to address this situation in a way that is consistent with the interests of Wefund, the Creator, and involved Backers.
In the event that the Creator does not intend to complete the Campaign it shall reimburse Wefund the total Campaign Target [who shall in turn reimburse the relevant Backers]. For the avoidance of doubt in no way is Wefund liable for any loss suffered by either Backers or Creators for the actions, omissions, or errors of the other.
5. Handling of Pledge Monies:
If and only if, the Campaign Target has been reached or exceeded within the timeframe, PayPal shall transmit the money pledged by each Backer directly into that Paypal account elected by the Creator and specified on the Registration Form. The System is set up so that Paypal will deduct 5% from this amount and transmit this to Wefund (the "Fee") via the Creator's account. PayPal's fees are paid by the Creator: the fixed transaction fee (20 pence in the UK) and the 1.4%-3.4% fee. A 50 pence (£0.50) transaction fee is automatically added to each Backer's transaction - this transaction fee is passed directly to the Creator, to attempt to compensate him or her for the Paypal fees he has paid for the transaction (it is inexact, but the best solution the Company could find). Should the Creator's Campaign fail to reach the Pledge Target, or if the date in which to raise funds for the Campaign expires without the Campaign Target being met Wefund will neither deduct nor accept any payment previously pledged from any Backer. Wefund agrees to practice commercially responsible behaviour in collecting payments pledged by Backers and although Wefund will engage in its reasonable efforts to collect the entire funds pledged by Backers, it cannot guarantee that it will be able to collect the entire Campaign Target in circumstances which are beyond the control of Wefund. AT NO POINT WILL FUNDS IN EXCESS OF THE 5% FEE PASS INTO WEFUND'S ACCOUNT. THERE WILL BE NO MIXING OF DIFFERENT PROJECTS FUNDS. (the "Service").
6. Delivery of the perks is up to the backers
Wefund shall not be responsible for the nature or quality of the performance or any other obligations promised by the Creator, and the Creator will be wholly responsible for meeting any obligation or Perk as stated or implied on the Site in respect of the Campaign they create. IF THE CAMPAIGN TARGET IS MET AND PAYPAL HAS DEDUCTED FUNDS FROM EACH OF THE BACKERS' ACCOUNTS THE BACKERS ARE NOT ENTITLED TO ANY REFUNDS FOR NON-DELIVERY OF ANY PERKS.
7. Intellectual Property Rights of Content:
Creator shall fully own all the intellectual property in the Content that it submits including all publishings, recordings, productions, visualisations, all aspects of the project they create through or result from their Campaign. Wefund and the Backers have no rights in the Content save for those licences granted at clause 8 below.
8. Grant of Licences to Wefund:
When Creator submits Content to Wefund the Creator grants to Wefund:
(a) a non-exclusive, worldwide, royalty free transferable licence(with rights to sublicense) to use, reproduce, digitally distribute, display, and publicly perform the Contents (as well as any underlying musical compositions) created or contributed by the Creator as part of the Campaign via any means developed, owned, or controlled by Wefund or its partners solely for the purposes of promoting the Creator's Campaign or Wefund, part or all of the Service.
(b) a non-exclusive, worldwide licence to:
(i) to reproduce, display and distribute any artwork, photographs supplied by the Creator, liner notes, metadata, track data lyrics and editorial content relating to the Campaign, and
(ii) to use the name (including professional name(s)), likeness, performances, photographs, and biographical material of each artist, performer, producer, and songwriter featured on a recording or in a Campaign, in connection with promoting the Campaign or Wefund.
Notwithstanding the foregoing, Creator acknowledges and agrees that Wefund's business model may involve free promotional downloads and/or streams of recordings.
Wefund also grants to each user of the Service, a worldwide, non-exclusive, royalty-free licence to access Creator's Content through the Service.
The above licenses granted by you in Content terminate when you remove or delete your Content from the Site.
9. Representations, Warranties and Indemnities:
Creator hereby warrants and represents that:
(a) It has the right and power to enter into and fully perform all of its obligations under this Agreement and has the authority and right to provide Wefund with the rights granted herein;
(b) Wefund's exercise of the rights granted herein will not infringe upon any copyright, trademark, right of publicity, moral right or other proprietary, intellectual property, contractual or other right of any person anywhere in the world;
(c) No content provided to Wefund by the Creator will breach any applicable laws or regulations, including, without limitation, defamation and obscenity laws;
(d) Creator have (and will continue to have during use of the Service) all necessary licenses, rights, consents, and permissions which are required to enable Wefund to use the Content for the purposes of the provision of the Service by Wefund, and otherwise to use your Content in the manner contemplated by the Service and these Terms.
(e) No agreement of any kind entered into by Creator does or will interfere in any manner with Wefund's complete performance of this Agreement, or with the rights granted to Wefund herein;
(f) Wefund shall not be required to make any payments to third parties in connection with exploitation of the Content hereunder.
CREATOR WILL DEFEND, INDEMNIFY, AND HOLD HARMLESS WEFUND, ITS PARENTS, SUBSIDIARIES, AFFILIATES, AND THEIR RESPECTIVE DIRECTORS, OFFICERS, EMPLOYEES, AND AGENTS, WITH RESPECT TO ANY CLAIM, DEMAND, CAUSE OF ACTION, OR DEBT OR LIABILITY BROUGHT BY OR CLAIMED BY ANY THIRD PARTY, INCLUDING SOLICITOR'S FEES, TO THE EXTENT THAT ANY SUCH CLAIM IS BASED UPON OR ARISES OUT OF A BREACH OF ANY OF CREATOR'S REPRESENTATIONS, WARRANTIES, COVENANTS, OR OBLIGATIONS.
10. Tax or other financial obligations:
Wefund is not VAT registered. The Creator will be fully responsible for any taxation or other financial obligations arising out of its participation in the service. If, for any reason, Wefund is required to pay any monies relating either directly or indirectly to a Creator's campaign, Creator shall fully reimburse Wefund for those amounts within 30 days of being informed of these payments.