Legal Agreement
Terms & Conditions
Please read these terms carefully before using the SALONECROWDFUNDER.COM platform. By using our services, you agree to be bound by these terms.
1
General & Definitions
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The Site: SALONECROWDFUNDER.COM, operated by Innovation SL (Registered No. SL240117INNOVO1166).
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Donor: Any person registered as a supporter of a Campaign.
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Campaign: Any business or organization listed to gather support for social impact in Sierra Leone.
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Social Impact: Positive change addressing social challenges, such as job creation or environmental sustainability.
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Support: Funds or other resources provided by Donors to a Campaign through the Site.
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Net Funds: The total amount raised during a Campaign less the Platform Fees, Payment Processing Fees, and Bank Charges.
2
Eligibility & Registration
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Age: Campaigners must be 18 years or older.
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Location: The Idea or Startup must be based in Sierra Leone.
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Financials: All Campaigners must have a Bank Account associated with the Business or Organization name.
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Stage: Applicants must have a concept, MVP, prototype, or product/service with a defined social impact.
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Security: Users are responsible for all activity under their Username and Password, which are non-transferable.
3
Application & Co-Creation
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Expert Assessment: Acceptance to the platform is based on an expert assessment of the application.
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Co-Creation: All campaigns are co-created with the Site’s expert team. Innovation SL assists by requesting details, asking leading questions, and offering advice.
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Launch: A Campaign Manager must authorize the Campaign launch after the Campaigner provides final consent.
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Accountability: Campaigners are responsible for fulfilling all promises and obligations stated in their listing.
4
Fees & Financial Terms
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Platform Fee: SALONECROWDFUNDER.COM deducts a standard 5% fee from the funds raised.
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Payment Processing Fees: Our Service Provider deducts transaction fees at the following rates:
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3.5% for Domestic Debit/Credit cards.
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4.5% for International Debit/Credit cards.
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Bank Charges: Additional banking or Mobile Money fees may apply to the final disbursement of Net Funds.
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Currency: All financial thresholds and reports refer to the current legal tender of Sierra Leone (New Leones/NLe) unless otherwise specified.
5
Disbursement & Reporting
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Timeline: Campaigns typically last 3 months. Funds are disbursed within one month of the Campaign's end.
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Tranche System: To ensure accountability, disbursement may be done in tranches.
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Major Donations: For donations above NLe 500 (Five hundred New Leones), Donors may request follow-up reports.
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Reporting Requirements: To receive subsequent installments, Campaigners must upload narrative and financial reports, including proof of payments (receipts, invoices, or photo evidence).
6
Liability & Termination
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Venue Only: The Site acts as a venue; Innovation SL is not directly involved in transactions between Campaigners and Donors.
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No Guarantee: We do not guarantee the quality, safety, or legality of Campaigns, nor the ability of Campaigners to complete objectives.
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Termination: We reserve the right to cancel a Campaign or terminate User access at any time for any reason without notice.
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Indemnity: Users agree to indemnify Innovation SL against costs or claims arising from their misuse of the Site.
7
Governing Law
These terms are governed by and construed in accordance with the laws of Sierra Leone. The courts of Sierra Leone have exclusive jurisdiction over any disputes.
Innovation SL
Creating The Future Today
Visiting Address:
9B Spur Loop, Wilberforce, Freetown.