Introduction to using Crowd Velocity site
This section contains information about our website and the fundraising platform we provide. It also explains how to access and register with the website and provides links to our policies and guidelines. These apply to your use of the website including the types of content you are permitted to post, the types of Projects and related Rewards we permit you to offer, and what we do with any personal information we collect as you use the website.
Please note that CrowdVelocity does not offer regulated investments through the platform. Therefore it is not authorized or regulated by the Financial Conduct Authority. As with all Rewards-Based Crowdfunding, there is no recourse to either the Financial Ombudsman Service or the Financial Services Compensation Scheme.
1.1 Welcome to crowd-velocity.co.uk. The crowd-velocity.co.uk website and the Services provided through it are operated and owned by CrowdVelocity Ltd (‘we’, ‘us’ or ‘our’ as appropriate). For further information about us and our contact details, please visit the About Us page.
1.2 We may make crowd-velocity.co.uk available through a number of channels. It is currently available through the website located at www.crowd-velocity.co.uk.
1.3 To make these Terms quicker to read, we use a few key definitions:
- We refer to Community Members that are seeking to raise funds and offer Rewards for doing so as ‘Project Owners’.
- Their fundraising Projects as ‘Projects’.
- The aims of a Project as its ‘Project Goal’.
- Community Members that support those Projects by contributing funds as ‘Backers’.
- Their contributions as ‘Pledges’.
- The minimum total value of Pledges sought by a Project Owner for a particular Project as the ‘Funding Target’.
- The maximum period for which Pledges can be made for a Project as the ‘Fundraising Period’.
- The total value of Pledges (excluding canceled Pledges) that a Project has received at the end of the Fundraising Period as ‘Total Pledges’.
- Community Members and other visitors to the site are referred to as ‘Users’ or ‘you’, as applicable.
1.4 The Project will be deemed to be funded if at the end of the ‘Fundraising Period’, the Project reaches its ‘Funding Target’ by the specified date under the All or Nothing Payment Scheme, or if the Project has selected the Flexible Funding Payment Scheme where the Project Owners keep all the monies raised.
2. All or Nothing Projects Payment Scheme
You only receive the funds raised if you hit your target (if you don't hit the target, funds are returned to the Backers). This is best suited for Projects that need to reach a set target to take place. The average Pledge is £50.
3. Flexible Funding Payment Scheme
Keep all the funds raised on your Project, an average donation is £25.
3.1 We provide a platform for individuals and organizations registered with crowd-velocity.co.uk (‘Community Members’) to raise funds for Projects that benefit their community and to contribute to those Projects by funding them or by contributing their time and skills. The platform allows Project Owners to offer unique items, services or experiences (‘Rewards’) as thank you gifts for this support, and also provides them with an opportunity to build a community around each project by promoting it on the platform and on certain social media sites to friends, family, and other supporters.
Please read the Terms carefully before you start to use crowd-velocity.co.uk, as they will govern your use of crowd-velocity.co.uk, the Projects, and Rewards that you create and offer as a Project Owner, and the Pledges you make as a Crowd Funder, as well as the content you post as a Community Member. We recommend that you print or save a copy of these Terms for future reference.
By using crowd-velocity.co.uk, you confirm that you accept the Terms and that you agree to comply with them. If you are using crowd-velocity.co.uk in connection with your organisation, the terms 'you', 'your' or 'your organisation' in the Terms are also a reference to the business, institution or other organisation or entity (‘business’) on whose behalf you are acting when using, registering, backing or creating a Project on crowd-velocity.co.uk. If you do not want to be bound (or your business to be bound, where applicable) by the Terms, please do not access, use and/or contribute any content to crowd-velocity.co.uk or interact with its Community Members.
If you have any queries or concerns regarding the Terms, please contact us using our contact details on our website.
4. Accessing and Using crowd-velocity.co.uk
4.1 Anyone can access crowd-velocity.co.uk. However, to create a Project and become a Project Owner or make a Pledge as a CrowdVelocity user you will need to register as a Community Member by signing up and creating an account. For that purpose, you must be at least 18 years of age. To create an account, please go to the Sign Up page.
4.2 You are not eligible to use crowd-velocity.co.uk if we have temporarily suspended or previously terminated your access to the website and we have not expressly authorized you in writing to resume using crowd-velocity.co.uk.
4.3 We try to make crowd-velocity.co.uk available at all times, but, of course, we cannot guarantee this.
5.2 Like many online services we use a feature called a 'cookie', which is a small data file that is sent to your browser from a web server and stored on your device's hard drive. References in these Terms to ‘cookies’ also include other means of automatically accessing or storing information on your device.