Last updated: November 01, 2020
Information about currency exchange risk
This Currency Disclaimer constitutes a legally binding agreement made between you, whether personally or on behalf of an entity (“you”) and We Fund It GmbH (“Company”, “we”, “us”, or “our”), concerning your access to and use of the https://www.wefundit.co website as well as any other media form, media channel, mobile website or mobile application related, linked, or otherwise connected thereto (collectively, the “Site”). You agree that by accessing the Site, you have read, understood, and agreed to be bound by all of these Currency Disclaimer. IF YOU DO NOT AGREE WITH ALL OF THIS CURRENCY DISCLAIMER, THEN YOU ARE EXPRESSLY PROHIBITED FROM USING THE SITE AND YOU MUST DISCONTINUE USE IMMEDIATELY.
All users, registered or non-registered visitors understand that the base currency of the platform is EUR (Euro). As some investments on the platform are in countries where the used currency is different from the Euro, there are risks associated with investing in and lending to countries where the used currency (target currency) is different from the base currency of the platform.
Investors can deposit funds in Euro and will withdraw funds in Euro. The project owners receive funds in Euro and then convert it to their target currency in the country in which the lending occurs. At the end of the loan term, the project owners are obliged to repay their loans and interest in Euro. They might have to perform 2 currency conversions (one at the time of the disbursement of the loan and the other one at repayment), in case they require the funds to be available in their target currency.
Investors fully understand, that in case the target currency devaluates compared to the base currency during the course of the investment, the finally achieved total yields might differ from the initially agreed yields.
In case the target currency appreciates compared to the base currency of the platform, investors have a chance to achieve additional profits from the transaction.
We do not take any liability for losses arising due to the fluctuation of the target currency and the base currency of the platform.
We will urge project owners to fulfill their obligations towards investors and lenders on the platform but we cannot control global currency fluctuations and exchange rates. In every case, investors and lenders will be notified if the currency of the project is different from the base currency of the platform.
Currency prices may be highly volatile. Price movements for currencies are influenced by, among other things: changing supply and demand; trade, fiscal, monetary, and exchange control policies of governments; U.S. and foreign political and economic events; changes in national and international interest rates and inflation; currency devaluation; and sentiment of the marketplace. None of these factors can be controlled by clients or We Fund It or any of its affiliates, and no assurance can be given that clients will not incur losses from such events.
In order to resolve a complaint regarding the Site or to receive further information regarding use of the Site, please contact us at:
We Fund It GmbH
Berlin, Berlin 10827