GENERAL TERMS AND CONDITIONS


1.Introduction

1.1. The following are terms of a legal agreement ("Agreement") between you and MyC4 ("we" or "us") that sets forth the terms and conditions for your use of this web site ("Site"). The Site is owned and operated by us. This Site is being provided to you expressly subject to this Agreement. By accessing, browsing and/or using this Site, you acknowledge that you have read, understood, and agree to be bound by the terms of this Agreement and to comply with all applicable laws and regulations. The terms and conditions of this Agreement form an essential basis of our bargain.

1.2. We reserve the right to amend this Agreement at any time and will notify you of any such changes by posting the revised Agreement on the Site. You should check this Agreement periodically for changes. All changes shall be effective upon posting. Your continued use of the Site after any change to this Agreement constitutes your agreement to be bound by any such changes. We may terminate, suspend, change, or restrict access to all or any part of this Site without notice or liability.


2.MyC4

2.1. MyC4 is an online investment platform, where African entrepreneurs and businesses meet private and corporate investors. MyC4 will enable investors to provide loans and convertible instruments to businesses and start-up companies, in need of capital and competences.

2.2. MyC4 will not be part of the actual loaning. Loaning documents will be made by a local partnering bank (Lender) that is also responsible for taking collateral (if any) acting on behalf of the amounts committed by the investors on the MyC4 platform.


3.Terms of Trade

3.1. It is free to invest on MYC4, but it might cost you a fee to your bank to transfer money from your bank account to you MYC4 Account.

3.2. Repayments to your Account will happen automatically every month. When a Business makes a repayment it will be transferred back to your MyC4 Account. When your monthly repayment is in your Account you will have the possibility of reinvesting the interest rate that you have received on your first investments. You will of course only receive interest on the money that you have invested in African Businesses and not when the money is still in your Account or in a Bid.

3.3. Return policy. As long as you have not invested your money in a Business you will be able to withdraw your money. If you have invested in a Business you will get your part of the loan repayments on a monthly basis. You can at any time withdraw the available amount on your MYC4 account.

3.4. Withdrawing money from your MYC4 Account to your bank account costs it free of any charge to MYC4 however you have to expect a fee to your bank as a flat fee of between €2-4 (depending on your country's specific bank terms for transactions and current EU legislation) to cover bank transaction costs and administration costs. This amount will by the bank be subtracted from the requested amount.

Note: Your interests are taxable income like any other interest and must be reported to the tax authorities in your country. Interest earned on investments through MyC4 can be found in Profit and Loss. Here you can see the interest earned in any specific year or the cumulated total.

MyC4 is not responsible for reporting your interest income to the tax authorities.

4. Risks

4.1. As a potential risk in any investment and even though MyC4 A/S will go to great length to ensure that the Businesses are solid and have good prospects in terms of Return on Investment, there is no guarantee that you will see a return of your investment. You can in fact loose all your investments and not only your interest.

4.2. Business risk refers to a business' ability to define correct strategy and implement it successfully. The risk is classified as business risk specifically, if a business fails independent of the macroeconomic trend.

There is always a risk of losing your investment if, for example, the hair salon in Uganda or the restaurant in Kenya fails. Therefore we always recommend that your spread your investments in a portfolio of several different Businesses.

4.3. Currency Risk is a form of risk that arises from the change in price of one currency against another. Whenever investors or companies have assets or business operations across national borders, they face currency risk.

When an Investor invests in different Businesses in different countries and thereby different currencies, you expose yourself to risk. The risk arises because currencies may move in relation to each other – euro against local African currency.

Please be aware that there is a Currency Risk on your investment when investing in some African countries and the size of the currency risk various from country to country. To be able to estimate your Currency Risk and the added interest rate you should claim on your loan, please visit the specific pages for the countries that you want to invest in here. 

4.4. Political risk refers to change in the macro-economic and social policies that have implications on the economic activities. The post-election crisis in Kenya is a good example, which has drastically impacted both Kenyan and Ugandan economies.

Sub-Saharan Africa is changing, as countries reform their business environments and the growth accelerates. High returns are often offered in African infrastructure projects and in other growth sectors, but some of these investments are in a high political risk environment.

5. Security

5.1. When you enter MyC4 we will check your identity by asking for Username and Password. As long as the correct Username and Password are entered, we will assume that you are the person giving instructions and making transactions and you will be liable for them. You must therefore keep your Password secret (as well as the PIN or other codes that protect access to your Nominated Account) and make sure that they are not stored on your workstation in a way that enables others to impersonate you.

5.2. We can refuse to act on any instruction that we believe:
(i) was unclear;
(ii) was not given by you; or
(iii) might cause us to breach a legal or other duty; or if we think MyC4 is being used for an illegal purpose.

5.3. You must never tell anyone else your Password (nor the PIN or other codes that protect access to your Nominated Account) or write them down without disguising them.

5.4. You must tell us as soon as possible if you think that someone else knows your Password (or the PIN or other codes that protect access to your Nominated Account) or can use MyC4 by impersonating you. Until you tell us: 1. you will be responsible for any instruction which we receive and act on, even if it was not given by you; and 2. we will not be responsible for any unauthorized access to confidential information about you on MyC4.

5.5. We will do all that we reasonably can to prevent unauthorized access to MyC4. As long as you have not broken the other terms contained in this Principle 3, we will accept liability for any loss or damage to you resulting directly from any unauthorized access to MyC4.

5.6. To further secure your account you need to enter a Legal Name, which you will be required to provide when attempting to withdraw money from your account. This name has to match the name of the person's bank account to which the money in your MyC4 account has to be transferred. This information will be locked so that it cannot be changed without a MyC4 Administrator's intervention.

6. Limits on Liability

6.1. We shall not be liable for any indirect, special or consequential loss or damage, including loss or damage arising out of or in connection with lost data, lost profits, damage to goodwill or business interruption, any delay or failure to perform its own obligations under these principles due to circumstances beyond our own reasonable control.


7. General

7.1. If any part of these General Conditions that is not fundamental is found to be illegal or unenforceable, such finding will not affect the validity or enforceability of the remainder of the general conditions.

7.2. You agree that all documents that we are entitled to send you electronically may be delivered to you via MyC4. Any notices we give you shall be given in writing via MyC4. You will also receive by email, to your email address specified on MyC4, from time to time a prompt to refer to MyC4.

7.3. The records kept in MyC4 shall be conclusive of the facts and matters they purport to record.

7.4. "C4-world" and "MyC4", and related design, are trademarks of MyC4 A/S.

7.5. If we do not strictly apply our rights under the General Conditions at any time, that will not prevent us from doing so later.

7.6. The General Conditions are in English and governed by Danish law which shall also apply to the establishment of our relationship with you. We will only write and communicate with you in English.

7.7. If any taxes apply to you as a result of entering into this agreement you must account for them yourself.


8. Governing law and venue

8.1. The agreement is governed by Danish law and disputes arising from the agreement shall be settled by the Maritime and Commercial Court in Copenhagen. Danish rules of international choice of law do not comply.


9. Contacting us

9.1. If you have questions regarding the general conditions or the practices of MyC4 please contact us by email at info@myc4.com or by regular mail at MyC4 A/S, Frederiksholms Kanal 4, 4, 1220 Copenhagen K, Denmark. Our CVR-number is 29603863.