Terms and Conditions

The Terms and Conditions set out herein are the general terms which govern the use of xxx (hereinafter referred to as “the Website”) and the contents contained therein by the guests or the registered users thereof (hereinafter referred to generally as “you”). The access to or use of this site shall be subject to the following Terms and Conditions. By accessing the site and continuing to do the same, you agree to be bound by these conditions, which may be updated by us from time to time without notice. Your continued access or use of this site and/or the services provided herein after an update by us will constitute your acceptance of and agreement to be bound by the updated conditions.

Amendments

Veecan Venture Sdn. Bhd. (hereinafter referred to as “the P2P Operator”) reserves its right to amend, revise, and/or modify these Terms and Conditions from time to time at its absolute discretion without the need of further reference to you. Any such amended, revised and/or modified Terms and Conditions shall be uploaded to the Website followed the publishing of a written notice or announcement to such effect of informing the guests or registered users of the Website of such amendment, revision and/or modification of the same. Any such amendment, revision and/or modification shall be effective immediately at the time of the uploading of the same and the notice or announcement thereof. You are required therefore to regularly review the information made available on the Website before your continued access and usage of the Website during each time of your visit to the Website. Your continued use of the Website shall indicate your unequivocal acceptance to be bound by the amended, revised and/or modified Terms and Conditions.

Disclaimer - Information

All information contained herein and/or posted or published hereon is provided on an “as is” basis. While the P2P Operator exercises due diligence and endeavours in ensuring the accuracy, adequacy and/or completeness of the information contained herein, neither the P2P Operator, its Directors, officers, employees nor agents expressly or impliedly warrant the accuracy, adequacy and/or completeness of the same.

The P2P Operator and/or its Directors, officers, employees and/or agents does not in any manner hold itself and/or themselves as advising you with respect to any information on the Website. The P2P Operator and/or its Directors, officers, employees and/or agents neither expressly nor impliedly represents and/or warrants to you that the information herein and/or any part thereof as being suitable and/or applicable for the purpose for which it is relied on, or any product or information thereof is fit for a particular purpose. As such, you shall seek and are at all times deemed to have sought independent professional advice with respect to the information and/or materials contained herein prior to the making of any decision in reliance on any such information and/or materials.

Under no circumstances shall the P2P Operator be liable for any loss or damages howsoever arising, whether in contract, tort, negligence or otherwise in connection with your access or use of this site, or reliance on any information, materials or services provided on this site.

Registration

To further access the Website and/or to subscribe to the Services provided hereunder, you are required to register yourself as a member of the Website.

To register yourself as a member of the Website, you must be at least eighteen (18) years of age at the time of registration. You shall be required to furnish all necessary information including but not limited to your full name as listed in your NRIC (if Malaysian) and/or any other relevant identity documentations, your date of birth, your bank account details, your contact details and/or all other information as can be from time to time requested by the P2P Operator through the Website at the time of registration by clicking on the “Sign Up” button and by filling up all necessary forms thereafter.

By so registering as a member of the Website, you hereby undertake and warrant as to the truthfulness, accuracy, validity, completeness and reliability of all information disclosed, submitted to the P2P Operator through the Website at the time of the disclosure. You shall be further deemed to have represented to the P2P Operator that all such information furnished are not misleading nor violate any laws or regulations, by omission or otherwise at the time of such disclosure. In the event of any change of circumstances with respect to the information provided, you are responsible to inform the same to the P2P Operator at the soonest time possible to enable the necessary communication and/or amendment in the P2P Operator’s records to be effected.

Data Processing and Security

By so registering as a member of the Website, you are deemed to have consented and agreed to the processing, usage and/or storing of all data collected from and disclosed by you through the Website by the P2P Operator in accordance with the Privacy Notice contained in the Website.

You as a registered member of the Website shall be responsible in ensuring the security of the login credentials and password created for the purpose of creation of an account under the Website. For the purpose of ensuring the security of your account and data stored hereunder, you are put at strict obligation at all times to keep your login credentials and password private and confidential.

In the event of suspected or actual misuse or unauthorised use of your account, fraudulent activity, and/or any breach of security of the Website, you shall notify the P2P Operator of such event immediately. The P2P Operator reserves the right to take action which it deems appropriate, including but not limited to requiring you to change your password, requiring you to provide further account verification, and/or to suspend your account upon receiving notification from you of any suspected or actual misuse or unauthorised use of your account, fraudulent activity, and/or any breach of security of the Website or any intention or actions that disrupt the Website.

Third Party Link

Should you leave this site via a link contained in the site to websites that are not owned or operated by the P2P Operator, you do so at your own risk. The P2P Operator does not control such linked websites and therefore shall not be responsible and makes no warranties in respect of the content of such linked websites, any third parties named therein or their products or services. The P2P Operator shall not be responsible or liable for damages or losses arising from your access to and/or use of such linked websites.

Copyright and Trademark

The P2P Operator owns all rights in the Website and all components thereof including without limitation, all text, information, materials, structure, sequence and organisation of the pages and screens. No part of the Website may be copied, reproduced, republished, uploaded, posted, transmitted, distributed in any form or manner without the prior written permission of the P2P Operator.

Restriction or Prohibited Conduct

By accepting the Terms and Conditions, you shall not in any way use the Website in the respect that:

is in breach of the Term and Conditions, policies or any other agreement entered with us;
Amounts to or is tantamount to the conduct of fraudulent, criminal or unlawful acts on the Website;
Misuses the website in an obscene, indecent, vulgar, profane, racial, sexist, offensive, discriminatory, derogatory, harmful, unlawful, threatening, harassing, embarrassing, malicious, abusive, hateful, political, or defamatory manner;
Violates any laws and/or regulations which are in force at any relevant point of time with respect to the use of the Website and applicable under the jurisdiction of Malaysia;
Impersonates or misrepresents any person or body;
Infringes or breaches the copyright or property rights;
Distributes or discloses any private information of any third party; or
Refrains or restricts any other person from the use and/or enjoyment of the forum on the Website.

We reserve the right to suspend and/or terminate your account if we have reasonable belief that you have breached or suspected to have breached any of the above mentioned.

Non-Liability

You shall access and use the Website and any contents, information, services rendered thereon solely and strictly at your own risk. The Website and the use of the same is rendered by the P2P Operator on an “as is, where is” and “as available” basis. The P2P Operator in no way guarantees, warrants and/or represents whether expressly or impliedly that the contents of the Website are complete, accurate, up-to-date, fit for a particular purpose, error-free and, to the extent permitted by law. As such, the P2P Operator shall in no way accept and/or to be deemed to have accepted any liability arising from any error and/or omission arising from the contents of the Website.

The P2P Operator further limits its liability with respect to the unavailability, interruption, delay, error, occurrence of viruses and/or other harmful or invasive elements with respect to the operation of the Website. The P2P Operator does not guarantee and in no way has control over the compatibility of the Website with the hardware and software of the device which may be used by you to access the Website. You shall be solely responsible in ensuring that your device is compatible and competent for the purpose of accessing and using the Website. The P2P Operator shall in no way be liable for damage to, viruses and/or any invasive codes which might cause harm or affect your device(s) as a result of your use or access of the Website.

This exclusion and limitation of the P2P Operator’s liability with respect to the use and access of the Website shall be effective at any point of time and shall survive in the event you cease access or use of the Website.

Indemnity

You agree to defend, indemnify and hold the P2P Operator, its Directors, officers, representatives, employees and/or its affiliates harmless from and against all liabilities, damages, claims, actions, costs and expenses in connection with any claim by a third party arising out of or incidental to:

The use of the Website and/or any contents thereof by you and/or your representatives, affiliates and/or any related parties in use of the Website through and by your Account, whether or not in breach of the Terms and Conditions and Privacy Notice contained herein;
The breach of the Terms and Conditions and/or Privacy Notice contained herein by you and/or your representatives, affiliates and/or any related parties in use of the Website through and by your Account; and/or
Any non-compliance with or violation of any prevailing laws and regulations, government’s policies, directives and court verdicts or arbitral awards of any judicial bodies including infringement of any third party’s rights committed by or which involves you and/or your affiliates, employees or related parties in or after the use of our services or during the access to, use of or browsing in the Website.

Duty of Confidentiality

Being a licensee to the Website and the contents and information contained therein, you as a Member of the Website are entitled to access and use all information and content contained therein for your personal purposes including but not limited to the purpose of determination and assessment of an investment decision and/or issuance of an application to raise fund through the Website subject to the duty of confidentiality as follows:

The Internal operating systems and procedures adopted by the P2P Operator;
All and any agreements, declarations, and documents furnished to you through the Website and/or incidental to your use of the Website;
Any information disclosed with respect to any potential investors, actual investors and/or listed issuers; and
All such information and materials which can be from time to time listed and notified by the P2P Operator to be private and confidential information.

You shall at all times during and after the use of the Website perform and observe or caused to be performed and observed the Duty of Confidentiality stipulated herein, except that such Confidential Information may be disclosed:

To your directors, officers, partners, employees, and agents, including accountants, legal counsel and other advisors (it being understood that the Persons to whom such disclosure is made will be informed of the confidential nature of such Confidential Information and instructed to keep such Confidential Information confidential);
To the extent requested by any regulatory authority;
To the extent required by applicable laws or regulations or by any subpoena or similar legal process;
In connection with the exercise of any remedies hereunder or any suit, action or proceeding relating to the use of the Website or the enforcement of rights hereunder;
With the consent of the Disclosing Party, i.e.: the P2P Operator; or
To the extent such Confidential Information becomes publicly available other than as a result of a breach of the Terms and Conditions or becomes available to the Receiving Party (You) on a non-confidential basis from a source other than the Disclosing Party (The P2P Operator).

Personal Data Protection Act 2010 (PDPA)

By visiting this Website, you hereby agree that the P2P Operator may collect, obtain, store and process your personal data that you provide in this Website for the purpose of the transactions and dealings with respect to the application for fundraising (P2P financing) and/or investment in the listed Issuers and/or any related transactions and dealings, receiving updates, news, promotional and marketing mails or materials from the P2P Operator.

Personal Data Protection Act 2010 (PDPA)

You hereby give your consent to the P2P Operator to:

Store and process your Personal Data; and
Disclose your Personal Data to the relevant governmental authorities or third parties where required by law or for legal purposes.

In addition, your personal data may be transferred to any P2P Operator within the group which may involve sending your data to a location outside Malaysia. For the purpose of updating or correcting such data, you may at any time apply to the P2P Operator to have access to your personal data which are stored by the P2P Operator.

For the avoidance of doubt, Personal Data includes all data defined within the Personal Data Protection Act 2010 including all data you had disclosed to the P2P Operator in this Website. Please visit and read the Privacy Notice for more detailed Terms with respect to the processing of personal data.

Termination of Membership

You may suspend and/or terminate your membership under the Website at any point of time by giving prior written notice to the P2P Operator informing of such intention of termination. Such written notice can be sent to the P2P Operator either by way of email to the P2P Operator’s email address as provided in the Website and/or by post to the P2P Operator at its address as provided in the Website.

The P2P Operator may at any time, suspend, terminate and/or cancel your account with immediate effect at its absolute discretion and/or in the event a breach of any of the Terms and Conditions has been committed by you. The P2P Operator shall inform and notify such suspension, termination and/or cancellation of membership to you by written notice by email to the email address as provided by you during your registration as a Member of the Website.

The suspension or cancellation of your account and your right to use the Website shall not affect either party’s statutory rights or liabilities nor shall it be deemed or construed as a waiver of our rights to take any action against you for any loss and damages suffered as a result of your breach of these Website Terms.

Severance

If any provision contained herein is prohibited by law or judged by a court to be unlawful, void or unenforceable, the provision shall, to the extent required, be severed from the Terms and Conditions and rendered ineffective as far as possible without modifying the remaining provisions, and shall not in any way affect any other circumstances of or the validity or enforcement of the Terms and Conditions. The P2P Operator shall be entitled to unilaterally decide in its sole and absolute discretion, a substitute provision, without having to notify or secure any approval of you, which is valid and enforceable and achieves to the greatest extent possible the economic, legal and commercial objectives of such illegal, void, invalid, prohibited or unenforceable term, condition, stipulation, provision, covenant or undertaking.

Electronic Communication

By your continued access and usage of the Website, you hereby agree and consent to the use of electronic communication as the mode and method of communication for the purposes of transactions and dealings including but not limited to the entering of Agreement with respect to the issuing of fund-raising application and/or the investment and any other related dealings which is incidental to the use of the Website in accordance to the Electronic Commerce Act 2006.

Governing Law

The Terms and Conditions shall be governed by, construed and enforced by virtue of the laws of Malaysia. You further agree to submit to the exclusive jurisdiction of the Malaysian courts.

Complaints

You may reach us at xxxx in order to voice out on any feedback and/or complaint with respect to the use of the Website and/or the Services rendered by the P2P Operator.

Acknowledgement

You hereby acknowledge that you shall use and access the Website and the Services provided thereon at your own risk. The P2P Operator in does not and will not warrant or represent, and therefore will not indemnify nor provide any forms of compensation whatsoever to you, whether expressly or impliedly, with respect to the information and contents of the Website as mentioned in the Disclaimer above and:

That any and all information on its platform, website, marketing material or in any documentation that the P2P Operator prepared including the Contents are accurate, valid, correct, current, reliable, verified, complete, or error-free;
That the Website (including any functions associated therewith) or the Contents will be uninterrupted or error-free, or that defects will be corrected, or that the Website or its server is free of viruses, worms and/or other harmful or invasive elements, or that the download, installation or use of any software of the Website or the Contents in or with any computer or device will not affect the functionality or performance of the computer or device;
That the Website will be protected against any malicious attack or that data will not be compromised under such attack;
As to the functionality, operability, accessibility, accuracy, correctness, completeness, reliability, up-to-dateness, timeliness, satisfactory quality, merchantability, fitness for a particular purpose, and non-infringement of proprietary rights, of the Website and the Contents;
The success of any outcome, dealings or transaction on the Website;
The approval and granting of any applications made under the Website;
The creditworthiness, genuineness and trustworthiness of any users.

You further acknowledge that the P2P Operator in no way assumes and undertakes any advisory, fiduciary or any other similar other duties or act as an investment advisor to you with respect to the information and materials published on the Website and the Services rendered herein. You hereby acknowledge and represent that you have taken, or will take, the necessary independent legal, tax, financial or other advice before using any function or Services rendered on the Website.

Non-Assignability

Your Account under the Website, together with your rights and/or duties arising thereunder are not assignable or transferable by you to any other person, except by will or by the applicable laws of distribution.

The P2P Operator may assign or transfer its rights under the Terms and Conditions to another P2P Operator where it reasonably believes that such assignment and transfer will not affect your rights as the user / Member of the Website.

Non-Waiver

No failure or delay by the P2P Operator to exercise any right or remedy provided under the Terms and Conditions against you in the event of any breach of the same shall constitute a waiver of that or any other right or remedy, nor shall it prevent or restrict the exercise of that or any other right or remedy against you. No single or partial exercise of such right or remedy shall prevent, restrict and/or prejudice the further exercise of that or any other right or remedy.

Eligibility Criteria for Investors

Investors must:

Be above 18 years old;
Have a valid identification (Passport or Identification);
If Malaysian, have a permanent address in Malaysia;
Have a valid contact number;
Have a bank account;
Be any legal business entity that is accepted in their respective countries (for companies);
Complete the Investor Registration Declaration Form and provide any extra documents if requested.

Entry Requirement of Issuer

Only locally registered sole proprietorships, partnerships, incorporated limited liability partnerships, private limited and unlisted public companies can be an issuer.

Based on the Guidelines on Recognized Markets, the following entities are prohibited from raising funds through a P2P platform:

Commercially or financially complex structures (i.e., investment fund companies or financial institutions);
Public-listed companies and their subsidiaries;
Companies with no specific business plan or its business plan is to merge or acquire an unidentified entity (i.e., blind pool);
Companies that propose to use the funds raised to provide loans or make investments in other entities; and
Any other type of entity that is specified by the SC.

An Issuer must not be hosting the same Campaign concurrently on another P2P platform, and must at least meet any of the following requirements:

Be in operations for at least one year;
Have annual sales of at least RM300,000;
Demonstrate that operating cash flow in the past 12 months was positive; and
Have a purchase order in which to base funding size on.

Any P2P Operator wishing to access the Website as an Issuer must be a registered member and the process is explained above.