Crowd Funder's Information:
Types of Contribution
Funders can contribute to a Project by:
(a) Making a Pledge; and/or
(b) By offering their time and skills to a Project Owner by sending a private message to them using the internal messaging feature on crowd-velocity.co.uk. If you offer your time and skill you do so at your own risk and will be solely responsible for any arrangements you make with Project Owners in connection with the provision of the services that you offer.
You acknowledge that your contribution (whether financial or otherwise) does not entitle you to any rights in, or to any Project, including any ownership, control or intellectual property rights.
Making a Pledge
Once you have registered as a Community Member, you can make a Pledge by visiting the Project Profile page of a Project, selecting the amount you wish to contribute and the Reward you would like to receive, then selecting your payment method and submitting payment.
Your username will be made publicly available in connection with each Project for which you make a Pledge under the ‘Funders’ tab of the Project Profile page unless you choose to make a Pledge anonymously.
If you wish you may make a Pledge and elect not to receive a Reward. Once you have made a Pledge, you cannot change your selected Reward without cancelling your Pledge.
When paying using GoCardless, you will be prompted to set up a direct debit mandate from your bank account. If a Project is deemed funded at the end of the Funding Period, GoCardless will debit an amount equivalent to your Pledge and release those funds (less our Project success fees) to the Project Owner. If the Funding Period ends without the Project deemed funded, no funds will be taken from your account in respect of that Project. Please note that we do not at any time receive or hold any GoCardless monies that are contributed by you for distribution to Project Owners. We are therefore not responsible for distributing funds to Project Owners nor for issuing refunds.
When paying using PayPal, you will be prompted to make a pre-authorised payment from your PayPal account. If a Project is deemed funded at the end of the Funding Period, PayPal will debit an amount equivalent to your Pledge and release those funds (less our Project success fees) to the Project Owner. If the Funding Period ends without the Project deemed funded, no funds will be taken from your account in respect of that Project. Please note that we do not at any time receive or hold any PayPal monies that are contributed by you for distribution to Project Owners. We are therefore not responsible for distributing funds to Project Owners nor for issuing refunds.
Fees Payable by Funders
If you choose to pay a Pledge by using GoCardless, then no processing fees are payable in addition to your Pledge amount.
If you choose to pay a Pledge by PayPal, please note that if you are paying in a currency other than GBP you may be charged additional fees by PayPal when making payment. If in doubt, please check the PayPal website for details of such fees before making any Pledges.
If you choose to pay a Pledge by Stripe, a processing fee of 20p per Pledge + 1.9% of the Pledge amount will be charged by Stripe for UK issued cards (Visa, Mastercard and American Express) and 2.9% + 20p per Pledge for non-UK issued cards. Please note that if you are paying in a currency other than GBP you may be charged additional fees by Stripe when making payment. If in doubt, please check the Stripe website for details of such fees before making any Pledges.
Cancelling a Pledge and Refunds
You may cancel a Pledge without charge at any time before the end of the Funding Period for a Project, whether it has reached its Fundraising Target or not. If you do so, you will not be eligible to receive any Rewards in relation to your Pledge.
If a Project for which you have made a Pledge is not deemed funded by the end of the Fundraising Period and is under the All or Nothing Funding Scheme, your Pledge will be cancelled automatically.
You may not cancel your Pledge once a Project’s Fundraising Period has ended if at the end of that period the Project is deemed funded. This does not affect your statutory or legal rights. Advice about these rights is available from your local Citizens' Advice Bureau or Trading Standards Office.
As a funder, you shall:
(a) Ensure that you have sufficient funds or credit available at the end of the Funding Period of the applicable Project for payment of the Pledge;
(b) Promptly respond to a Project Owner following a request for information reasonably required by the Project Owner to fulfil a Reward that you have chosen at the time you made your Pledge;
(c) Comply with the terms and conditions for the payment services provided by our third party payment processors; and
(d) Ensure that any funds used to make Pledges will not result in a breach of applicable law.
Other Important Terms
The Contract between Project Owners and Funders
The Contract relating to the provision of funds from Pledges and the fulfilment of Rewards is made solely between a Project Owner and Funders, subject always to these Terms. By making a Pledge, a Funder is making an offer to enter into a Contract with the applicable Project Owner provided that the Project is deemed funded at the end of the Funding Period.
The following steps have to take place before a Contract is made between the Funder and the Project Owner:
(a) After signing into their account the Funder makes a Pledge by submitting their payment details for processing and clicking ‘Make a Pledge with Obligation to Pay’. Before making their Pledge, the Funder will have the opportunity to review the Pledge amount and any related Reward and, if necessary, to amend these details; and
(b) The Funder will see an on-screen acknowledgement of their Pledge and receive an email confirming details of the Pledge made, to the email address provided by the funder.
The Project Owner accepts the Funder's offer, and a binding Contract is made between them, at the time the Funding Period ends and the Project is deemed funded, or if the Total Pledges are equal to or exceed the Funding Target. Accordingly, nothing that we, or the Project Owner says or does, will amount to any acceptance of a Funder’s offer until this occurs.
Interest on Pledges
Any interest on Pledges or other funds held by us shall accrue to our benefit and neither Project Owners nor Funders shall be entitled to such interest in relation to distributed funds or refunded Pledges.
Publication and sharing of personal information relating to Backers with Project Owners
For some Rewards, a Project Owner may need further information from Backers, (e.g. clothing sizes), to enable the Project Creator to deliver certain Rewards. The Project Owner shall request such information directly from a Funder after the end of the Fundraising Period for the relevant successful Project.