Terms of use

Welcome to Stichting Braz, a Dutch foundation (together with its officers, directors, agents, employees, partners and their respective affiliates, collectively, "Stichting Braz"). This Terms of Use Agreement (this "Agreement") is a contract between you ("you") and Stichting Braz and governs all transactions between you and Stichting Braz, as well as your use of the www.brazworld.org and www.brazworld.com website (the "Website") and all Stichting Braz services. By using the Website, you agree to be bound by this Agreement, whether or not you become a donor (a “Donor), participate in Stichting Braz's programs (the "Program") or in any other way use the Website (in each such capacity, a "User"). If you wish to become a donor, participate in the Program or otherwise become a User of the Website, you must read all of the terms and conditions in, and linked to, this Agreement (including the Privacy Policy).
 
This Agreement supersedes any previous Agreement to which you and Stichting Braz may have been bound. This Agreement may be modified by Stichting Braz in its sole discretion from time to time and such modifications will become part of this Agreement and will be in effect once posted by Stichting Braz on the Website. Your participation in the Program and use of the Website will be subject to any such modifications. You should review the Website and this Agreement from time to time for any modifications.
 
This Agreement will be binding on, inure to the benefit of and be enforceable against the parties and their respective successors and assigns. Neither the course of conduct between parties nor trade practice shall act to modify any provision of the Agreement. All rights not expressly granted herein are hereby reserved. Headings are for reference purposes only and in no way define, limit, construe or describe the scope or extent of such section.
 

1. Program Participation

Stichting Braz operates the Website, which connects you and other users which have donated funds to Stichting Braz (individually, a "Donor" and, collectively, "Donors") with low-income entrepreneurs in developing countries (individually, a "Borrower" and, collectively, "Borrowers") in need of affordable capital. In most cases, these Borrowers have been considered "risky" by traditional ldonors for several factors, including, but not limited to the Borrowers' lack of credit history, financial instability, and geographic location.
 
By participating in the Program or in other ways using this Website, you hereby acknowledge and agree that (a) Stichting Braz makes no representation, warranty, covenant or guarantee that any of the funds you lend to a Borrower via the Website will be repaid and (b) once you have made a donation, you cannot cancel it and we cannot return the donated money back to you and (c) our Programs made via the Website bear a high risk of non-repayment and other risks. Some of the Programs have no repayment, but are simple donations.
 
In certain times, Donors will be able to choose themselves which program the funds will be donated, it they so wish. Stichting Braz makes no warranties we can continue with this service and when you become a Donor you accept this. If the Donor chooses not to participate the selection process, Stichting Braz will make the decision on Donor’s behalf. If Donor has chosen to participate, but Stichting Braz has not received the decision for any reason (Donors inactivity, technical reason or other) within three (3) months from Stichting Braz receiving the donation, Stichting Braz has right to select the destination on behalf of the Donor.
 
In case of removal of the Program from Website for any reason, the Donor will be notified, and Donor will have three (3) months to select new Program, after which Stichting Braz has right to select the destination on behalf of the Donor if decision has not been received for any reason (Donors inactivity, technical reason or other) by Stichting Braz system.
 

1.1. Disbursing the Loan

You acknowledge and understand that Stichting Braz identifies existing international organizations (individually, a "Field Partner" and, collectively, "Field Partners") that work in low-income communities and have a mission to reduce poverty by providing affordable capital to low-income entrepreneurs. Any donations made by you or any other Donor will be disbursed to Field Partners for final disbursement. Field Partners Loan the funds, rather than receive them as donation, unless it is explicitly otherwise defined in the Program details. Stichting Braz collects and combines funds from multiple donors via the Website and passes of these funds (excluding Braz service charge, 15% of the received donations, bank and other administration charges and the interest earned, if any, on such funds while they are held in Stichting Braz 's account, which are used to fund Stichting Braz 's operations) to the Field Partner(s) for disbursement to the Borrowers selected for funding on the Website. Stichting Braz is only a middle-man in this process. Stichting Braz will not take part in the actual loaning or other Programs whatsoever. Loaning documents and other Program documents are made by a local partnering Field Partner (Actual Lender) that is responsible for taking collateral (if any).
 
Field Partners are solely responsible for screening each Borrower and uploading requests for Loans on the Website, and Stichting Braz (a) expressly disclaims any responsibility to screen or audit any Borrower or any Field Partner, and (b) shall have no liability whatsoever and you shall hold Stichting Braz harmless from, any and all liabilities with respect to, or resulting from such audits or screenings.
 

1.2 Loan Collection and Repayment

As Borrowers repay the Loans, the Field Partner(s) will post repayments to the Website. Repayments will be made in periodic installments, depending on the terms of the applicable Loan. You understand, however, that you cannot retrieve any repayments, as you have donated the fund to Stichting Braz.
 
Stichting Braz collects the funds at the end of the Loan term in one lump sum or in any other periodic installments provided for in Stichting Braz 's sole discretion. Depending the type of Program you choose and depending changes in terms and conditions, You may have possibility to provide your opinion where the funds could be lend or donated next.
 
You also understand that there may be fees that your bank or payment gateway providers (depositing and withdrawing) charge that reduce the amount Stichting Braz can be lending. You understand these fees are not received by Stichting Braz and we take no responsibility or liability for such fees whatsoever. You hereby acknowledge and agree that neither Stichting Braz, its Field Partner(s) nor the Borrower(s) will be obligated or pay you anything back including the donated amount or its interest.
 

1.3 Records and Tracking

While we take no liabilities for loss of data, Stichting Braz makes reasonable efforts to records and tracks every loan you make and records of each Donation you make (including this Agreement and any repayment history) will be kept by Stichting Braz.
 

1.4. Tax Deductibility

You acknowledge you are not eligible to receive a tax deduction as might otherwise be available in connection with a charitable contribution. You also understand that you are solely responsible for determining the proper tax treatment for any donation you make through the Website and the Program. Stichting Braz has not and will not provide any tax or legal advice to you in connection with any Donation you might make. This Agreement does not try to define the tax implications of participating in the Program. If you participate in the Program, you are solely responsible for consulting with your own accountants, tax and legal advisors.
 

1.5 Scenarios of Principal Loss

You understand and hereby consent (without any notice thereof) to any restructuring of the repayment plan and/or, in Stichting Braz's sole discretion, any extension of the length of the term of the Loan in order to increase the chances that your Loan is repaid. Stichting Braz will consider a Loan to be in default if it is not repaid within three (3) months after the agreed maturity date of the Loan (Stichting Braz and the applicable Field Partner reserve the right to extend such Loan's maturity date upon shared agreement under special circumstances).
 
You agree that Stichting Braz and its Field Partners shall have no liability therefore, and you hereby release and forever hold harmless Stichting Braz and its Field Partners for any loss you may incur if for any reason. In all cases, whether the Loan is repaid to Stichting Braz, you agree that you cannot get reimbursed, you donation to Stichting Braz uncancellable.
 

1.6 Political risk

Political risk is a form of risk that refers to change in the macro-economic and social policies that have implications on the economic activities. Some of loans on the Website are in a high political risk environment.
 

1.7 Currency Risk

Currency risk is a form of risk that arises from the change in price of one currency compared to another. Whenever investors or companies have assets or business operations across national borders, they face currency risk.
 
When an Stichting Braz lends or donatest to different entrepneurs in different countries and thereby different currencies, the currency risk may exit. The risk exists because currencies may move in relation to each other such as the European Union Euro against local currencies in emerging countries.
 
Please be aware that there is a Currency Risk that may result to reduce the available amounts for relending by Stichting Braz and thus reduce your chances to participate further with your donation on the website.
 

2. Acceptable Use

The Website is for use in connection with the Program and may not be used by you in connection with any other commercial endeavors except as previously approved in writing by Stichting Braz. Use of the Website and participation in the Program shall be in strict compliance with this Agreement, Stichting Braz's Privacy Policy, all other procedures and guidelines set forth on the Website and applicable law. You may not engage in solicitation of, or advertising to, any User, Field Partner, Borrower or any other Person to buy or sell any products or services through the Website. You are not allowed to transmit any chain letters or junk email to any User, Field Partner, Borrower or any other Person. Illegal and/or unauthorized uses of the Website, including collecting the name, email address or any other personal or confidential information of any User, Field Partner, Borrower or any other Person by electronic or other means for any reason, including, without limitation, the purpose of sending unsolicited email and unauthorized framing of or linking to the Website, is prohibited and will be investigated and legal action will be taken, including, without limitation, civil, criminal and injunctive redress.
 
Stichting Braz assumes no obligation to monitor the conduct of any User off the Website, however, it is a violation of this Agreement to use any information obtained from the Website in order to harass, abuse, or harm another person, or in order to contact, solicit, advertise to, or sell to any User, Field Partner, Borrower or other Person without their prior written consent. In order to protect such persons from such solicitation or advertising , Stichting Braz reserves the right to restrict the amount of communication that a User may send to others through the Website in any 24-hour or other period to a number that Stichting Braz sees appropriate, in Stichting Braz's sole and absolute discretion.
 
If the Player is younger than eighteen (18) years of age, (s) he should obtain the consent of his/her parents or guardian to create an account. By accepting these General Conditions, the Players guarantees that (s) he is either over eighteen (18) years of age, or has the consent of his/her parents or guardian to create an account.  
 

3.Proprietary Rights; Confidentiality

"Stichting Braz" and the "Stichting Braz" logo, as well as, "Start your growth" and "Braz" logos are trademarks and service marks of Stichting Braz. Stichting Braz owns and retains all proprietary rights in the Program, the Website and all material and information posted thereon ("Content"). The Website contains the copyrighted material, trademarks and other proprietary information of Stichting Braz and its licensors. Except for that information that is in the public domain or for which you have been given express written permission, you may not publish, transmit, copy, perform, modify, distribute, display, or sell any such proprietary information.
 
If you post any messages or other information on the Website, you agree that such messages and information shall be considered Content, and you shall be deemed to have automatically granted, represented and warranted that you have the right, power and authority to grant to Stichting Braz an irrevocable, perpetual, non-exclusive, fully-paid, worldwide license to: (a) use, copy, perform, display and distribute such information and content; (b) prepare derivative works of, and/or incorporate into other works, such information and content; and (c) grant and authorize sublicenses of the foregoing.
 
You acknowledge, consent and agree that Stichting Braz may, at its sole discretion and to the extent permitted by law, access, read, preserve and disclose your account information, usage history and submitted Content in order to: (a) comply with any applicable law, regulation, legal process, or governmental request; (b) respond to claims that any Content violates the rights of third parties, including intellectual property rights; (c) enforce this Agreement and investigate potential violations thereof; (d) detect, prevent, or otherwise address fraud, security, or technical issues; (e) respond to your requests for customer service; or (f) protect the rights, property, or personal safety of Stichting Braz, its users, or the public.
 

4. Disclaimers

Stichting Braz shall have no liability nor is not responsible, for any incorrect or inaccurate Content posted on the Website or any liability, cost or expense you may incur in connection with the Program, whether caused by any User, Field Partner, Borrower or other Person or by any of the equipment or programming associated with or utilized in the Program. Stichting Braz is not responsible for the conduct, whether online or offline, of any User of the Website or any other Person. With respect to the Website, Stichting Braz assumes no responsibility for any error, omission, interruption, deletion, defect, delay in operation or transmission, communications line failure, theft or destruction or unauthorized access to, or alteration of, any communications. Under no circumstances will Stichting Braz be responsible for any loss or damage, including personal injury or death, resulting from any use of the Website or participation in the Program, any Content posted on the Website or transmitted to, or any interactions between, any Users of the Website, whether online or offline. Stichting Braz neither represents, warrants, covenants guarantees, nor promises any specific results from use of the Website or the Program.
 
The website, including any content or information contained within it or any service or advice provided in connection with the program, is provided "as is" with no representations or warranties of any kind, express or implied, including, but not limited to, implied warranties of merchantability, fitness for a particular purpose and non-infringement. You assume total responsibility and risk for your use of this site and site-related services.
 
Stichting Braz makes no representation or warranty, express or implied, with respect to any third party data provided to Stichting Braz or its transmission, timeliness, accuracy or completeness, including but not limited to implied warranties or warranties of merchantability or fitness for a particular purpose. Stichting Braz will not be liable in any way to you or to any other person for any inaccuracy, error or delay in or omission of any third party data or the transmission or delivery of any such third party data and any loss or damage arising from (a) any such inaccuracy, error, delay or omission, (b) non-performance or (c) interruption in any such third party data due either to any negligent act or omission by Stichting Braz or "force majeure" or any other cause beyond the control of Stichting Braz.
 

5. Limitation of Liability, DISCONTINUATION OF SERVICES

You understand that any and all decisions made by you with respect to the Program are yours alone. Stichting Braz cannot and does not verify the accuracy of information from Field Partners, other Users or Borrowers. Stichting Braz shall not be responsible, or have any obligation or duty to, or liability for: (a) decisions or interactions resulting (directly or indirectly) from participation in the Program; or (b) any damages, costs, losses or expenses a User incurs as a result (directly or indirectly) of making a donation to Stichting Braz or as a result (directly or indirectly) of utilizing the Program or information received in connection with the Program. In addition, in no event will Stichting Braz be liable to you or any third person for any damages, costs, losses or expenses, including any lost capital, lost profits or special, incidental, consequential or punitive damages arising from your use of the Website or participation in the Program, even if Stichting Braz has been advised of the possibility of such damages, costs, losses or expenses.
 
Stichting Braz has right to without prior notification and without justification, to temporarily as well as permanently make the service unavailable or to limit the use thereof or to terminate the services all together and this will not result in any right for damages towards Stichting Braz. We do not also guarantee that service could be available at all times.
 
In case Stichting Braz, as a result of a mistake or error for which Stichting Braz is accountable, is nevertheless liable, the liability will at all times be limited to the direct property damage that are in direct connection to the mistake or error. In any case, Stichting Braz will never be liable for consequential damage, including but not limited to pure financial loss, loss of turnover and profit, loss of data and immaterial damage, resulting form or in connection with the services rendered by Stichting Braz and/or the use of the Website.
 
Insofar Stichting Braz, as a result of a shortcoming for which Stichting Braz is accountable, is nevertheless liable, this liability will at all times be limited per event (whereby a series of related events will be regarded as one single event) to the donated money that has actually been donated by the User to Stichting Braz in the current half of the calendar year.
 

6. Disputes with Field Partners, Borrowers

You are solely responsible for your interactions with any Field Partners, any other User (even to the extent prohibited hereby) or any Borrower and any disputes that may result from such interactions. Stichting Braz reserves the right, but has no obligation, to monitor disputes between you and other entities.
 

7. Disputes with Stichting Braz

If there is any dispute about or involving Stichting Braz, the Website or the Program, by using the Website or anything else whatsoever, you agree that the dispute will be governed by the laws of the Netherlands without regard to its conflict of law provisions. Any dispute shall be exclusively submitted to the competent courts in Amsterdam, The Netherlands.
 
To the extent permitted by applicable law, you hereby waive your right to an arbitration or court hearing of any claim or cause of action arising out of or based upon this agreement or any contemplated use herein, including contract, tort, breach of duty and all other claims. This waiver is a material inducement for the parties to enter into this agreement.
 
Without intending in any way to limit your agreement to waive your right to an arbitration or trial by jury, if the above waiver of the right to an arbitration or trial by jury is not enforceable, you agree that any and all disputes or controversies of any nature between you, Stichting Braz, any Borrower or any Field Partner arising at any time shall be decided by competent courts of Amsterdam, The Netherlands.
 
All such proceedings shall be closed to the public and confidential and all records relating thereto shall be permanently sealed.
 
You waive, to the maximum extent not prohibited by law, any right you may have to claim or recover in any legal action or proceeding referred to in this section any special, exemplary, punitive or consequential damages.
 

8. Indemnity

You agree to indemnify and hold Stichting Braz harmless from any loss, liability, claim, or demand, including reasonable attorney's fees, made or incurred by any third party due to or arising (directly or indirectly) out of your use of the Website or participation in the Program or arising from a breach of this Agreement.
 

9. Term; Termination

This Agreement will remain in full force and effect while you use the Website or participate in the Program as a User and, notwithstanding anything herein to the contrary, this Agreement will remain in effect after your participation in the Program and status as a User is terminated. Whether or not you are and remain eligible to participate in the Program may be determined by Stichting Braz in its sole and absolute discretion. You may terminate your participation and status as a User at any time and for any reason by sending a written notice of termination to Stichting Braz, such notice to be effective within 7 days of receipt by Stichting Braz. Stichting Braz may also terminate your participation in the Program and status as a User at any time and for any reason, effective upon transmission of notice to you at the email address you provide to Stichting Braz. If your participation in the Program is terminated by Stichting Braz, you agree not to use the Website any further.
 

10. Entire Agreement; Severability

This Agreement, accepted upon use of the Website and further affirmed by becoming a User, contains the entire agreement between you and Stichting Braz regarding the use of the Website or the Program. If any provision of this Agreement is held invalid, the remainder of this Agreement shall continue in full force and effect.
 

Privacy Policy

1. Stichting Braz will not rent or sell your personal information to third parties.
 
2. By default, you will receive update emails on your loans that are sent by our field partners through the Website. Stichting Braz will not disclose your email address to our partners, excluding technical support parties and teams, in any case -- these emails are sent through a webform without any third party learning your address. You can choose not to receive these emails through a preference on the Website.
 
3. By default, you may receive periodic newsletter emails from Stichting Braz. The frequency of these newsletters may vary but will be no greater than once per month.
 
4. Stichting Braz will not disclose your personally identifiable lending activity to any third party, excluding technical support parties and teams, without consent. Stichting Braz reserves the right to record and display anonymous lending activity on the Website and display the general regions where our ldonors are located.
 
5. We take privacy seriously and we value yours.