HumberConsulting Ltd. (“Humber”) based in, Innovation Centre Gallows Hill, Warwick, England (CV34 6UW) introduces the following Terms and Conditions of SESOCIO.COM® website which are applicable to the use of the offered services. These Terms and Conditions must be read, understood and accepted by the users before their registration in the website.
Any person who wants to have access to the website and/or use the services must be subject to these General Terms and Conditions, considering that the person has accepted the terms and conditions by performing operations in the website. SESOCIO.COM will render the services through SeSocio I Trust created under trust agreement dated August 30, 2016. Therefore, by entering or using the Site, the user expressly accepts the Terms and Conditions and the conditions set forth in the above mentioned agreement which copies can be downloaded at SESOCIO I
The terms specified below are valid for the trust instrumented in SeSocio.com
The services provided by the website are available for the users who have legal capacity to enter into contracts and are holders of a bank account and/or credit card. Moreover, the users expressly authorize SeSocio to make debits in the bank account informed, in case the wire transfer is not effectively credited or on account of new deposits to cover the purchase offers made by such user. Any person who does not fulfill the aforementioned requirements must refrain from using the Website and/or its services.
In order to have access to the website, the user must complete the applicable registration forms, providing the information requested in an accurate way, so as to be able to use the services offered in the website. The user also undertakes to update his/her personal details in case of any change.
The user will access to his/her personal account by entering his/her username and a personal password freely chosen by the user. The password may be changed at any time.
The user will be responsible for all the operations conducted from his/her login account and he/she undertakes to immediately and duly notify SESOCIO of any non-authorized use of said account.
SESOCIO.COM® reserves the right to deny access to any person, at its entire discretion and for any reason, including the noncompliance or violation of any of these Terms and Conditions.
The contractual relationship between users and SESOCIO.COM® is based on these present Terms and Conditions and in the aforementioned Trust Agreement. Users hereby declare that they have read, they respect and accept the clauses of the Terms and Conditions in their entirety.
Each user undertakes to refrain from conducting any operation that may create risks to the website and/or to other users. SESOCIO.COM® may order, if appropriate, to temporarily or permanently suspend access to the website and/or to cancel any user account.
Users are responsible for the truthfulness, accuracy and authenticity of the personal details provided in the website upon registration.
Moreover, SESOCIO.COM® reserves the right to suspend or disable either temporarily or permanently, the account of Users who have provided false or incomplete data or whose details could not be confirmed.
Since investments will be channeled through an Argentine Trust, administered by BLC TRUST SA (Financial Fiduciary Agent No. 63 registered at CNV - Argentina), users are hereby recommended to read the following documents:
1. Trust Agreement SESOCIO I
2. FIRST ADDENDUM TO THE TRUST AGREEMENT SESOCIO 1
3. LETTER OF ADHERENCE AS TRUSTOR/BENEFICIARY IN THE TRUST "SESOCIO I"
5. TABLE OF FEES
SESOCIO.COM® does not guarantee uninterrupted access or permanent availability of use of its website, provided that it may eventually be unavailable due to technical problems or Internet failures.
Moreover, SESOCIO.COM® does not guarantee the truthfulness of any content provided by Users and/or Third parties and will not be responsible for any content published by users in the Website that is inappropriate, illegal or questionable.
Each user acknowledges and accepts that the operations conducted with other users and/or third parties will be at their own risk and responsibility and, therefore, SESOCIO.COM® will not be liable for any damage caused as a consequence of the operations conducted.
The users hereby indemnifies and holds harmless SESOCIO.COM®, its directors, managers, employees, agents, workers, representatives and attorneys from any claim or legal action initiated between users and/or against users and/or third parties.
The main duty of the Trustee is the management and custody of property held in trust, in the interest and for the benefit of investors, in accordance with the instructions received and the intended purpose, as a guarantee to right holders in relation to the fulfillment of the aforementioned purpose and until deadlines are met and/or conditions established in the trust agreement are fulfilled.
Se-Socio S.A. PFC (hereinafter “SeSocio”) and/or Humber Consulting Ltd. (“Humber”) will make different types of users meet (investors and offerors) in order to conduct investment operations and, based on an agreement between the parties, SeSocio and Humber will formalize the respective operation, not on their own account or for their own interest, without the risk of losing their own assets, besides the provision of their services. Neither SeSocio nor other trustees take the risk of reimbursing the investments to users, who are not creditors of SeSocio or the Trust, and do not guarantee users any profitability of any kind in relation to the investments and/or Tokens made by them. Such investments and/or Tokens will not constitute and cannot be considered as equity interests of any kind (stock, membership interest, etc.) in the projects or undertakings offered in the website. The risks of non-collection and inexistence or insufficiency of investment return are assumed by the users who make such investments. Consequently, for the aforementioned circumstances, the creation of trusts is not considered as a financial intermediation in accordance with Argentine Law No. 21,526.
Formally, investments and/or Tokens in projects and/or proposals offered by entrepreneurs/ offerors in the website will be formalized by the Trustee, following investors’ instructions, according to the selected project or proposal; thus, the investment risk will be limited to such project or proposal, and investors will not be affected by the non-collection or lack of profitability of any other projects or proposals in which they haven´t taken part. In summary, net of common expenses and particular taxes, an investor that is a Trust beneficiary will receive the return or benefit of his/her investment, which will be determined by the profitability of the selected investment/proposal and by the existence of liquid funds to be distributed as a result of such project.
Beneficiaries will have the following rights:
(a) Beneficiaries’ participation: will have the right to collect any net profits arising from the selected and implemented project. It is worth mentioning that contributions made to the Trust by investors and Beneficiaries will not generate any income or interest. (b) From time to time investor`s may have to vote (“the pole”) in order to take some decisions regarding the project they participate. In that case, the emission of the vote is voluntary, but the choice of the majority of the tokenholders will be binding
(c) Participation of the Senior Beneficiary/Trustor, equivalent to the surplus of the Property held in Trust, once the Trust is liquidated, after expenses and Beneficiaries economic rights, notwithstanding the subsistence of the Contingency Fund, if applicable
The Trustee can create different categories of Beneficiaries, according to the type of investors and/or the amount of their Contributions to the Trust and/or establish minimum or maximum investment amounts or limit the possibility to take part in a certain Project.
Payments to the Beneficiaries must be made after deducting applicable taxes or withholdings. Beneficiaries can totally or partially assign their participation rights. Such assignments can only be made through the website platform (trading platform) through a section enabled for that purpose. Assignments must be expressly authorized by the Trustee and such authorization may be withheld in case: (a) the assignment may cause an unfavorable change in the Trust tax conditions, at his/her exclusive criteria; or (b) assignee has not submitted all the necessary information or documents, as per Trustee request, to comply with the applicable laws (including, but not limited to, the regulations on money laundering prevention issued by “FIU ARGENTINA” (Argentine Financial Information Unit), or in case that the information and documents submitted may prove, at Trustee’s exclusive criteria, that the acquisition of rights by the purported assignee may constitute a 'suspicious operation' under the terms of said regulations issued by the Argentine Financial Information Unit. Such circumstances must be duly registered in the respective book of Beneficiaries, which must be kept by the Trustee. The Trustee reserves at all times the right to acquire participation from Trustors/Beneficiaries in relation to each of the projects or undertakings offered and/or implemented, by paying such Trustors/Beneficiaries the amount of capital corresponding to the contribution made by the Trustor/Beneficiary and the amount of net profits, if applicable. In such cases, the Trustor/Beneficiary cannot object to the assignment proposed by the Trustee and, therefore, after the Trustor/Beneficiary receives the reimbursement of the capital invested in the respective project and the net profits, if applicable, the Trustee will have no right to claim any remuneration or compensation in relation to such participation.
The administration of the property held in trust will be in charge of the Trustee, who may delegate such duty under the Trustee´s exclusive responsibility. The Trustee will be in charge of the administration of the property held in trust in accordance with these Terms and Conditions, the Operational Manual and the clauses of the aforementioned Trust Agreement.
Every Trustor/Beneficiary, for the mere fact of their adherence to the Trust, acknowledges and accepts that: (i) the investment and/or participation is subject to a series of particular risks, inherent to their nature and characteristics, related to the economic and financial situation of Argentina and of the country of origin of the investment project, financial markets and capital markets, amendments in tax regulations, laws and interpretations, all of which may negatively affect investment operations; (ii) the investment and/or participation may have a purely electronic or digital instrumentation -not requiring written certificates, communications or disbursements-, and therefore no written certificates are available for recovery purposes in case filing an action against offeror for payment default or arrears; proof of the contract may be difficult and the operation may become uncollectible; (iii) the investment in the Trust may be affected by situations causing lack of projects profitability, implying the inexistence or insufficiency of benefits/profits and even the non-recovery of part or all of the investment made.
Under no circumstances SeSocio nor the Trustee guarantee or ensure beneficiaries any return and/or benefit and/or profit or any cash flow for their participation and/or investment in project/s or proposal/s neither the total or partial recovery of the contributions made or of the capital invested in the projects or proposals in which they decide to invest.
Every Trustor/Beneficiary acknowledges that: a) Trustor/Beneficiary participation in the Trust is limited exclusively to the investment made in the project/s and/or proposal/s in which the Trustor/Beneficiary decided to participate and that, if applicable, according to his/her instructions, the Trustee took part in administration activities on Trustor/Beneficiary behalf, b) Trustor/Beneficiary cannot claim any remuneration and/or compensation for profits or benefits arising from other projects/proposals offered in the website, in which Trustor/Beneficiary has not participated, c) Trustor/Beneficiary cannot claim any remuneration/profit for global benefits or profits arising from the Trust or the property held in trust.
The users acknowledge that the funds available in the account of SeSocio, destined to a project published in the platform and/or transferred to the trust may be insufficient to meet the offer made by them, and that their account in SeSocio may have a negative balance. In that sense, the users expressly and irrevocably authorize SeSocio to make adjustments in the account of SeSocio and/or debits in the bank account they hold, whenever the account of SeSocio has a negative balance, even if such balance was caused by an involuntary mistake of SeSocio in processing payments and/or collections, and/or if it is necessary in order to correct the transactions made in the account of SeSocio and/or the wire transfer informed had not been duly accredited in the bank account of the Trust and/or as wire transfers necessary to comply with the commitments undertaken by virtue of the reserves made by them.
Moreover, the investors acknowledge that the entry of the purchase order in our system and the transference of funds do not imply a confirmation of the investment. The system allocates the Tokens of the projects taking into account the entry order of the funds over the purchase bid (consequently, it gives priority to price over the time when the purchase bid was made). In that sense, one or more bids from one or more investors may not be allotted, in case wire transfers and/or bids were entered into the SeSocio system and/or the deposit account after the system had allotted all the Tokens available for that particular project.
SeSocio will be authorized to receive by way of compensation: (i) a commission over the contributions made by the Trustors with respect to the projects selected or implemented, (ii) a commission calculated over the total participation offered by the entrepreneurs with respect to every project implemented, (iii) a fee for the administration of every project implemented and in progress, (iv) a commission for the transference of Tokens made in the trading platform, (v) other commissions or fees that may be established by the Trustee in the future, all in accordance with the information published in the website for each of the projects or undertakings in question.
The compensation of the Trustee is established in the first addendum, that is transcribed in this document.
Such remunerations or the creation of new commissions or fees, even for services that are not mentioned in these Term and Conditions but that are described in the website will not be retroactive and will be in force on the second working day after their publication in the Website.
SESOCIO.COM® may consult public and/or private databases in order to verify the accuracy of the information provided by the users.
The use of information complies with the regulations to protect the privacy of personal data established in the Argentine Personal Data Protection Law.
The Website has a system to protect the information similar to a "firewall” that prevents direct Internet connection with its servers, filtering requests of information to operate only under appropriate authentication conditions.
Information is protected by using the "https" or "http Secure” protocol, which is destined to the secure transfer of data. Such protocol uses SSL (Secure Socket Layer) credentials to create an encrypted channel between the User browser and the remote server. The system is certified by IT security experts.
The referral program (hereinafter "Mis Socios", “My Partners” or the "Program") is a system that rewards Users (hereinafter, “Recruiter User" and/or the “Recruiters”, indistinctly) for referring friends, acquaintances or contacts (hereinafter, the “Referred User” and/or “Referred Users”, indistinctly) to become Investors.
Any user that has completed the registration process (by entering his/her telephone number, ID, address, etc), that is to say, who is authorized to invest, can participate in the referral program.
Referred User is any User who becomes registered in the Website after the recommendation of a Recruiter User. The Referred User must register immediately after clicking the hyperlink in Recruiter user invitation to register. This means that if a user is invited to register but does not complete the registration after clicking on the invitation, we cannot consider such user as a participant to the program.
For any investment made by the “Referred User” in the first 3 months following the first wire transfer and crediting of funds to the deposit account of the project, the “Recruiter User” will receive a bonus equivalent to one per cent (1%) of the amount invested, in Tokens, in relation to the project in which the “Referred User” has invested more than USD 500, provided that:
a) The Referred User has registered through the hyperlink available in the e-mail message sent by SeSocio at the request of the “Recruiter User” and in the same browsing session in order to link the “Recruiter User” to the “Referred User”;
b) There is no previous registration made by the “Referred User” in the site, whether an incomplete registration or not, since this would imply the automatic loss of the bonus and SeSocio will not link such users;
c) In case the Tokens to be awarded exceed the amount of Tokens available for the project selected by the “Referred User”, the “Recruiter User” will receive the maximum bonus possible until reaching the limit of Tokens available.
This benefit will be valid as from June 1st, 2018, and may be cancelled without previous notice. The maximum amount of Tokens to be granted as bonus for each investment made by the “Referred User”, will be equivalent to the amount of USD 1000.
In some projects, SESOCIO.COM® may grant extra Tokens in the investments according to an algorithm and selected criteria. The algorithm may be changed at any time. a) The extra amount to be granted is defined upon checkout. It may be different from the landing. b) In case the checkout is not confirmed within 10 minutes, the extra percentage (%) is not guaranteed and may change. c) In case the collection is not confirmed within 48 hours, the extra Tokens will not be credited. d) The extra Tokens are not applicable to automatic reinvestments.
Users can generate IUSD tokens through the platform, which replicate the price of the dollar, which is taken as a reference. In any event, and based on what has been previously expressed, it is expressly clarified that the generation of IUSD tokens made by users does not represent in any way a regulated exchange operation and / or included by any exchange regulations. Likewise, it is clarified that SeSocio in no way and under no circumstances performs exchange operations that are regulated and / or included under current exchange regulations. For its part, it is clear that the fiat currency entered by users to the platform, in relation to the projects, will be tokenized ”automatically. As expressed in the previous paragraph, the corresponding tokens generated in relation to investments will replicate the price of the dollar, which is taken as a reference.
Notices or communications to Users will be sent to their e-mail addresses, as specified by each User in the registration process. Each User accepts the full validity of the notices sent via e-mail.
The user hereby acknowledges that he/she has thoroughly read and understood these terms and conditions and their scope before accepting these terms and conditions.
The user hereby states that at the moment of checking the box with the text: “I have read, I understand and I accept the General Terms and Conditions", user accepts to be bound by the General Terms and Conditions.
SE-SOCIO S.A. PFC (antes SeSocio S.A.) C.U.I.T. número 30-71523896-5, con domicilio legal en la calle Maipú 388, 3° “K” de la Ciudad Autónoma de Buenos Aires, en su carácter de Fiduciario, (en adelante el “Fiduciario") representada en este acto por su presidente señor Guido Quaranta, Documento Nacional de Identidad número 28.233.423;
GASTÓN KRASNY, Documento Nacional de Identidad número 32.480.547, con domicilio en la calle Bucarelli 2072 de esta Ciudad Autónoma de Buenos Aires, en adelante el Fiduciante / Beneficiario Senior;
BLC TRUST S.A., en su carácter de fiduciario financiero, con domicilio en Avenida Santa Fe 969, 1 piso de la Ciudad Autónoma de Buenos Aires, República Argentina, representada por el Francisco José Benegas Lynch en su carácter de presidente (en adelante, el “Nuevo Fiduciario”).
En adelante cada una de las partes será denominada en forma individual como una “Parte” y en forma conjunta como las “Partes”.
Las Partes acuerdan la suscripción de la presente addenda al contrato de fideicomiso relativo al “Fideicomiso SE SOCIO I” (el “Contrato de Fideicomiso” y el "Fideicomiso", respectivamente) de fecha 30 de agosto de 2016, constituido para administrar y canalizar las inversiones de los beneficiarios que conforman la comunidad que utiliza la plataforma del sitio web denominado www.sesocio.com (en adelante "sesocio.com’) para generar y participar en proyectos de inversión sin intermediarios.
Las partes acuerdan reemplazar la definición de Fiduciario consignada en la SECCIÓN I: DEFINICIONES E INTERPRETACIÓN 1.1. DEFINICIONES, por la siguiente:
Fiduciario: BLC TRUST S.A. o quién lo sustituya en el futuro.
Las Partes acuerdan incluir una nueva cláusula II 18 B que diga:
“Se designa a SE-SOCIO S.A. PFC como Administrador y Agente de Pagos y Cobros de Inversiones.
El Fiduciario firmará a solicitud del Administrador los documentos que el Administrador certifique que son necesarios o convenientes para permitirle cumplir con sus obligaciones conforme al presente. Los Beneficiarios eximen al Fiduciario de responsabilidad por el alcance y/o contenido de los documentos, no estando obligado a ejercer ningún tipo de control sobre los mismos.
El Administrador llevará la gestión de administración conforme a las siguientes reglas:
a) Emplear en el cumplimiento de sus obligaciones y en el ejercicio de sus derechos conforme al presente, la prudencia y diligencia de un buen hombre de negocios que actúa sobre la base de la confianza depositada en él, cumpliendo con los compromisos que asume conforme al presente y adoptando las medidas necesarias para proteger los derechos del Fiduciario y/o de los Beneficiarios. Cumplirá debidamente todas y cada una de sus obligaciones en tiempo y forma y atenderá en todos los aspectos esenciales los requisitos legales que fueren menester, especialmente aquellos cuya inobservancia pudiera derivar en un efecto adverso y significativo al interés de los Beneficiarios. A tales efectos tendrá amplias facultades para llevar a cabo todos los actos relativos a la administración de las inversiones y a los cobros y pagos que hubiere que efectuar, sujeto a lo establecido en el presente Contrato.
b) Mantener e implementar bajo su exclusiva responsabilidad, procedimientos administrativos y operativos a fin de preservar la información relativa a los Inversores.
c) Cumplir debidamente con (i) todas las obligaciones que de su parte debieran cumplirse en virtud de las Inversiones, (ii) todos los requisitos aplicables en virtud de la legislación vigente con el fin de administrar y canalizar las Inversiones conforme el presente.
d) Remitir la Cobranza a la Cuenta Fiduciaria.
e) Suministrar al Fiduciario la información y archivos necesarios para cumplimentar las presentaciones impositivas correspondientes.
f) Suministrar al Fiduciario toda la información y documentación que el Fiduciario requiera en relación con la ejecución del presente Contrato.
Informes del Administrador.
El Administrador remitirá al Fiduciario un informe referido al status de cada una de las inversiones y de los pagos y cobros efectuados en forma trimestral.
Remuneración del Administrador. El Administrador tendrá derecho a cobrar: (i) una comisión sobre los aportes efectuados por los Fiduciantes respecto de los proyectos elegidos e implementados, (ii) una comisión calculada sobre la participación total ofrecida por los emprendedores respecto de cada proyecto implementado, (iii) un honorario por administración respecto de cada proyecto implementado en curso, (iv) una comisión por las transferencias de participaciones realizadas en la plataforma de trading, (v) otras comisiones u honorarios que el Fiduciario establezca en el futuro, todo ello conforme a lo que se comunique en el sitio web para cada uno de los proyectos o emprendimientos en cuestión.
Renuncia. Remoción. El Administrador no podrá renunciar sin justa causa a dicho rol ni podrá ser removido sin justa causa. En caso de configurarse una causal de remoción con causa será de aplicación lo dispuesto en tal sentido para el fiduciario bajo los términos del presente. Corresponderá al Fiduciario remover al Administrador, sin derecho de éste a indemnización alguna, cuando ocurra cualquiera de los siguientes hechos respecto del Administrador:
(a) no deposite en modo, tiempo y lugar de acuerdo a lo pactado el producido de las inversiones;
(b) no brindare al Fiduciario en tiempo y forma la información detallada que le solicitare;
(c) que la autoridad competente disponga la suspensión transitoria, parcial o total, de sus operaciones por el plazo que sea,
(d) que se designe un veedor o le establezca un plan de regularización o saneamiento;
(e) que el Administrador entrara en cesación de pagos, solicitara su concurso preventivo o se declarara su quiebra.
El Administrador se obliga a informar al Fiduciario, en forma fehaciente, a más tardar el día hábil bancario siguiente al de haber tomado conocimiento por cualquier medio, el acaecimiento de cualquiera de las situaciones antes detalladas. Verificado cualquiera de los supuestos indicados en los ítems (a) y (b) procederá la remoción del Administrador si éste no subsanare el incumplimiento dentro del término que el Fiduciario especifique en la intimación pertinente.”
La presente Adenda entrará en vigencia el 1 de octubre de 2018 por decisión de la Asamblea de Inversores.
En prueba de conformidad, las partes firman ejemplares del Contrato de Fideicomiso, todos ellos de un mismo tenor y a un solo efecto, en la Ciudad Autónoma de Buenos Aires, un ejemplar será para cada una de las partes firmantes y uno adicional para su presentación ante la Comisión Nacional de Valores.
En la Ciudad Autónoma de Buenos Aires a los 30 días del mes de agosto de 2016, entre (a) SE-SOCIO SOCIEDAD ANONIMA, C.U.I.T. número 30-71523896-5, sociedad inscripta ante la Inspección General de Justicia el día 3 de mayo de 2016 bajo el número 6948 del Libro 78 Tomo - de sociedades anónimas, con domicilio en la calle Maipú 388 3° K de la Ciudad Autónoma de Buenos Aires, en su carácter de Fiduciario (en adelante el “Fiduciario”) representada en este acto por su presidente señor Guido Quaranta, Documento Nacional de Identidad número 28.233.423 y el señor (b) Gastón Krasny, Documento Nacional de Identidad número 32.480.547, con domicilio en la calle Bucarelli 2072 de esta Ciudad Autónoma de Buenos Aires, como Fiduciante/Beneficiario Senior; y (c) Los inversores que adhieran al presente contrato en su carácter de Fiduciantes y Beneficiarios mediante la suscripción de la Solicitud de Adhesión (los “Beneficiarios”; en conjunto las “Partes”):