Terms and conditions of use
ALGAE is a SASU with a capital of 25 000€ registered at the RCS of Paris under the number 912 263 274, located at 1 rue de Stockholm, Paris 75008. ALGAE is a participative investment platform dedicated to real estate.
ALGAE operates a website (here after “the Site”) also called algae-app.com, whose address is the following: https://www.algae-app.com
The Internet users accessing this Site and interested in the participative financing dedicated to real estate can become “MEMBER(S)” subject to the validation of their profile inducing the validation of their provided identity documents, in order to benefit in particular from the following services proposed (here after the “Services”) :
– access to the homepage
– creation of a personal space
– access to the pages of projects currently being financed
– access to the marketplace
– and more generally to the content published on the site
Before becoming a “MEMBER”, the user is invited to read the General Conditions of our Payment Service Provider and/or Electronic Money Provider or any intermediary mandated by the Platform appearing on the Website, available here, which describe the functioning of the payment and reimbursement operations that could be performed on your account.
By ticking the box “I accept the General Conditions of Use” and by clicking on the box “I accept”, the MEMBER declares that he irrevocably accepts all the General Conditions as well as the General Conditions of the Payment Service Provider and/or Electronic Money Provider or any intermediary mandated by the Platform appearing on the Website by ticking the box provided for this purpose.
Member account – Registration
1. conditions of access to the site
Browsing this site is subject to the regulations in force. The Internet user is invited to consult this page regularly, as updates may have been made since his last visit. Access to the site may be subject to restrictions with regard to certain persons or certain countries, either by virtue of general prohibitions or by virtue of specific marketing rules.
2. Conditions of access to the Services
The Services are reserved for persons legally capable of entering into contracts under French law; they must expressly ensure that they are legally authorised to connect to this site in the country from which the connection is made and to declare their country of residence, under their own responsibility. The Services are therefore not accessible or intended for minors. No active marketing or canvassing is carried out by ALGAE. The Internet users residing outside France must make sure of the rules which are applicable to them. In particular, the access to the Site does not constitute in any case any canvassing or advice in the United Kingdom or in the United States, none of theServices proposed on the Site is thus intended for a person residing in theseStates.
3.Conditions Information provided by the MEMBER to the Site
When registering online, the MEMBER commits himself to fill in the registration form with accuracy and sincerity, by providing accurate, complete and updated information. The MEMBER will have to fill in all the compulsory fields appearing in the registration forms. In case of change of one of the compulsory elements appearing in the registration form in his situation, the MEMBER commits himself to immediately update this information concerning him via the Site on his MEMBER space. ALGAE cannot be held responsible in case it would not have been informed of a change of situation of the MEMBER. The MEMBER recognizes that creating a false identity is liable to sanctions and commits himself not to mislead third parties and to update without delay the personal data he communicated during his online registration. In the hypothesis where the MEMBER would provide false, inaccurate, outdated, incomplete information orin violation with the provisions of the present article, ALGAE will be entitled to suspend or delete the MEMBER’s account without delay and to refuse him/her immediately, and for the future, the access to all or part of the Services.
4.creation and use of the account
To create an account, the MEMBER must choose an identifier and a password that will allow him to access the Services and to manage his account in such a way that only the MEMBER can benefit from an access to his personal information.This account is strictly personal and the MEMBER is not allowed to share or transfer it to anyone else.
The login and the password are proof of the MEMBER’s identity and the commitment on any use made of the Services through him. The MEMBER can modify the information relative to his account with his login and password. The MEMBER is entirely responsible for the conservation and use of his login and password. He must take all measures to prevent an unauthorized or fraudulent use of his personal space. To this end, he must regularly modify his password in compliance with the security criteria imposed by the Website. If the MEMBER notices or suspects an unauthorized or fraudulent use of his login and/or password or any breach of security, he must immediately alert ALGAE by phone orby e-mail to email@example.com.
By validating his registration, the MEMBER accepts to receive the emails necessary for the good use of the platform, as for example as soon as a new property arrives on the primary market. The MEMBER can also subscribe to the newsletter in order to receive other types of emails, such as articles, news etc. In a responsible approach, ALGAE makes its best efforts to limit its sending of e-mails.
The proposed service
The MEMBER can subscribe to contracts of assignment of future income backed by financing operations of investment properties which are presented on the ALGAE platform by following the investment process on the website www.algae-app.com. The procedure for the payment of the funds is defined in the contract that the MEMBER who wishes to invest can download directly from the page of each property. The investment will be made and the funds will be totally cashed by the company carrying the project only once the amount sought by the company is reached. If the operation is not carried out, the funds subscribed by the MEMBER will be entirely refunded to him, within a reasonable time, without any costs. No information presented on the Website constitutes legal or fiscal advice or advice in any other field.
Some information presented on the Site may contain forecasts or other prospective declarations concerning future events or the financial performance of the projects.
These statements are only forecasts, opinions or estimates and the reality maybe very different. When acquiring tokens of a new building (primary market), investors are limited to 5% of the total amount to be financed. This limit applies to the primary market only.
The MEMBER can resell his tokens on the marketplace, at the price he wishes, to other MEMBERS, natural or legal persons. In order to avoid too much speculation on the real estate price, ALGAE does not allow a MEMBER to sell his tokens 10% more expensive than the last estimation of the value of the brick. This estimated price of the brick is only given as an indication. It has no contractual value.
As soon as a MEMBER buys tokens from another MEMBER, we transfer the tokens directly from one account to another, and the money from one portfolio to another. The income received is paid in full to the MEMBER who owns the tokens on the 28th of the month.
We do not guarantee liquidity on the marketplace.
ALGAE does not guarantee that the Site is accessible without interruption.
ALGAE may interrupt access to the Site for maintenance reasons and in case of emergency.
ALGAE undertakes to make its best efforts to secure access, consultation and use of the Services in accordance with the rules of use of the Internet.
ALGAE is not responsible for the alteration, loss or accidental transmission of data or the sending of viruses via the contents posted on the Site by the MEMBER.
Consequently, the responsibility of ALGAE cannot be engaged in particular in the following cases
– momentary interruptions of a few minutes, or a few hours, for the update of the Site
– Difficulties of functioning or momentary interruption of the Services independently of the will of ALGAE in particular in case of interruption of the electricity or electronic communication services
– Temporary interruptions of the Services necessary to the evolutions or maintenance
– Failure or dysfunctions of the Internet network in the transmission of messages or documents.
The MEMBER commits himself not to use any device or software of any kind in order to disrupt or try to disrupt the proper functioning of the Site.
The MEMBER commits himself not to take any action that would impose a disproportionate load on ALGAE’ infrastructures.
The Site, its content, its texts and illustrations, its photographs and images are the property of ALGAE and/or of third parties contractually linked to ALGAE, holders of the intellectual property rights of the Site. It is forbidden to copy and/or download all or part of the Site, its contents, its catalogue, its texts and illustrations, its photographs and images. The photos as well as the information presented on the website have no contractual value.
Consequently, the MEMBER commits himself to :
– Download on his computer the content of the website only for personal use and limited in time
– Print on paper the downloaded pages of the website only on the condition that these copies are strictly limited to a personal use
– Not to diffuse on social networks and in a general way to third parties information available on restricted access for the MEMBERS of the website
The MEMBER is forbidden to modify, copy, reproduce, download, broadcast, transmit, commercially exploit and/or distribute in any way whatsoever the Services, the pages of the Website, or the computer codes of the elements composing the Services and the Website.
The MEMBER recognizes that the violation of one of the ALGAE’ copyrights constitutes a counterfeiting offence punishable in France by the article L335-2 of the Intellectual Property Code and punishable by three years of imprisonment and a fine of 300 000 euros. In addition, it is recalled that no hypertext link can refer to the Site without the prior and express authorization of ALGAE. In the absence of authorization, such a link is considered as constituting the offence of counterfeiting, an offence whose penalties have already been recalled above.
Infringement to the rights of third parties
The MEMBER guarantees and will indemnify ALGAE at first request against any damage suffered by ALGAE and against any action in responsibility which would be engaged against ALGAE on the basis of the violation of any right of a third party resulting from the use of the Services.
ALGAE is the owner and/or has the authorisation to use all the rights relating to the logos, brands, distinctive signs as well as the databases and software used within the framework of the exploitation of the Site.
Any total or partial representation or reproduction of the logos, trademarks, distinctive signs as well as the databases used on the Site by any process whatsoever without the express and prior authorisation of ALGAE is forbidden and would constitute an infringement.
ALGAE reserves the right to take all measures it deems adequate to prevent or put an end to the infringement of its copyrights or the copyrights of third parties, without any liability being imputed to it as a result.
Warranty / Liability
In case ALGAE’ responsibility would be judicially sought because of a breach by a MEMBER of his obligations under the terms of the Contract, ALGAE will be able to call the latter in guarantee. Consequently, the MEMBER guarantees ALGAE on the occasion of any legal or de facto trouble, and in particular of any action directed against the latter in relation to the present, and would bear all the costs, including the costs of proceedings, damages and interest related there too.
ALGAE commits itself to implement all the necessary means in order to ensure at best the supply of the Services it proposes to the MEMBER.
Nevertheless, ALGAE does not guarantee that the proposed Services meet the needs and requirements of the MEMBER.
ALGAE declines any responsibility in case of error, inaccuracy or omission contained in the information made available to the MEMBERS.
ALGAE declines any responsibility in case of cancellation or postponement of a financing operation presented on the Site.
ALGAE also declines any responsibility in case of loss of data, alteration, destruction or any damage affecting the material or the computer system of the MEMBER or of a third party and which would result from the navigation on the Site or from the use of the Services.
Finally, ALGAE cannot be held responsible in case of major force or in case of a fact independent of its will, in particular in case of interruption or malfunctioning of the Services resulting from a failure of the telephone network or of the Internet access provider of the MEMBER.
ALGAE is not responsible for the use that could be made by the MEMBER of the information he could find on the Website.
No guarantee of the investments
The MEMBER acknowledges that he/she is aware of the fact that participatory financing in royalties presents a risk of capital loss and non-liquidity. It is up to the MEMBER to manage his assets in accordance with his financial situation, his objectives and his risk aversion. He is therefore fully aware of and responsible for the investment or disinvestment decisions he takes and declares that he understands and accepts the risks inherent to the investment she would make through ALGAE.
ALGAE will therefore not be held responsible for the financial and fiscal consequences of the investments for which the MEMBER keeps the whole initiative and the responsibility as for his choices made on the Site, the mission of advice of ALGAE does not imply a management mandate.
The MEMBER is invited to take the time to reflect and to read carefully the documentation made available on the Site and to check all the information he/she considers useful before taking any investment decision.
The MEMBER therefore expressly and irrevocably commits himself not to invest in projects presented on the Website, in the cases where :
– He would judge that the information he has is insufficient to fully appreciate the investment opportunity and its risks
– His/her personal, family, asset, financial and/or tax situation does not allow him/her to invest in view of the risks presented by the financial product in which he/she is considering investing.
Duration and end of the contract
The Contract is concluded between ALGAE and the MEMBER for the whole period of use by the MEMBER of the Website and the Services. The MEMBER can terminate the present contract at any time and without notice, by sending an email to: firstname.lastname@example.org.
ALGAE commits itself to respect a 5 days notice before any termination.
ALGAE can terminate the Contract without notice in case of abuse of illicit or fraudulent behaviour of the MEMBER or more generally in case of non-respect of any of the conditions of the Contract.
ALGAE declines any responsibility towards the MEMBER or any third party due to the interruption, suspension or termination, for whatever reason, of the Contract.
Modification of the contract or the services
ALGAE reserves the possibility to modify all or part of the Contract in order to adapt it to the evolutions of its exploitation, and/or to the evolution of the legislation and/or to the evolutions of the proposed Services.
Information relating to sponsorship offers
“Referrer”: refers to the Member who has registered on the Site using the registration link of the Sponsor.
“Sponsor”: refers to the Member with a validated investor profile, a natural person, whose registration link was used by the Referrer to create his/her Account on the Site.
“Site”: refers to the website accessible online at www.algae-app.com.
“Registration link”: refers to the unique URL that allows a new Member to be identified at the time of creating his/her Account on the Site as being the sponsored Member of another Member.
Sponsorship is limited to investment in a new property (primary market). The purchase of tokens through the marketplace (on the secondary market) is not eligible for the sponsorship commission.
The site proposes a sponsorship offer which remunerates 1% the sponsor and 1% the sponsoree on the purchase of tokens carried out by the sponsoree, during the first 3 months following his registration. ALGAE can put an end to any sponsorship offer in progress without notice and without notification to the Member.
Conditions to be respected by the Sponsor to benefit from the sponsorship offers:
The Sponsor must not be a qualified investor (a qualified investor is a person defined in point e of Article 2 of Regulation (EU) No 2017/1129 of 14 June 2017) or engage in investment advisory activity.
The Sponsor undertakes not to disseminate any paid advertisement (all channels combined) with the aim of exposing their sponsorship code. If the Sponsor has several Accounts, he/she can only benefit from the sponsorship offer through one of his/her Accounts.
In the case where the Godfather would be led to inform the coordinates of his god children, the Godfather certifies that he has obtained the agreement of each of his godchildren to be contacted by ALGAE within the framework of the sponsorship offer. Conditions to be respected by the Godson to benefit from the sponsorship offers:
The Recommendee must not be a Member of the Site before having registered using the registration link of his Sponsor.
Payment of the sponsorship bonus:
The referral bonus may be invalidated if the Referrer and/or the Referred Friend have not complied with the terms and conditions of the referral program. Payment terms
The referral bonus is applied to investments made within 3 months of the Referrer’s registration.
The referral bonus will be paid to the Referrer.
The sponsorship bonus is paid under the following cumulative conditions: The money has been invested in a new property (primary market)
The money has been invested in a new property (primary market);
– The property has been definitively acquired by a notary.
The sponsorship bonus does not apply to investments in the secondary market.
Sponsorship bonuses paid in cash are to be declared as non-commercial profits (art. 92 of the tax code).
However, the tax authorities regularly allow a tolerance of up to €1500 per year per person.
This is the reason why ALGAE does not take care of the tax declaration for the moment and leaves it up to each taxpayer to do so respectively.
However, if the annual sponsorship fee exceeds €1500 per person, we will ask for an invoice or proof of the tax declaration.