GENERAL TERMS AND CONDITIONS (“GTC”)
for Online Loans via the Acredius Platform
15 November 2022 (Version 2.0)
By visiting the website www.acredius.ch and its sub-domains (“SITE”) and/or using the online platform on the SITE including its services (“PLATFORM”), both operated by Acredius AG, CHE-443.581.719 (“ACREDIUS”), the user (“USER” or “USERS”) agrees to these GTC.
ACREDIUS reserves the right to supplement or modify these GTC at any time without giving reasons. The modified GTC must be communicated to USER by email at least 30 days prior to entering into force. If USER does not dispute the modified GTC by email within 30 days after notification, they are deemed to be accepted. ACREDIUS reserves the right to limit the use of the PLATFORM only to USERS that have accepted these GTC.
By accepting these GTC, USER accepts that any agreement concluded in connection with ACREDIUS or the PLATFORM is valid also if it is executed by several counterparts. In such cases, each counterpart shall be deemed to be an original copy of the agreement, and all of the counterparts, when taken together, shall be deemed to constitute one and the same agreement. Signatures to an agreement transmitted by electronic mail in pdf, or by any other electronic means intended to preserve the original graphic and pictorial appearance of the agreement, shall have the same effect as physical delivery of the paper document bearing the original signature. By signing on behalf of another person or of a legal entity, USER represents and warrants that he/she is duly authorised to sign on this person’s or legal entity’s behalf.
Deviating, additional or conflicting customer conditions will not be recognized unless ACREDIUS has expressly agreed in writing to their validity.
The PLATFORM makes a borrowing first group of USERS that can only be legal entities domiciled in Switzerland and Liechtenstein with commercial register entries in these countries (also e.g. associations like a football club or commercial partnerships) (“BORROWERS”) meet an investing second group of USERS that can be natural persons or legal entities from all over the world (“INVESTORS”) in an unconventional, paper reduced, intuitive and safe environment. ACREDIUS offers on its PLATFORM an intermediary service giving BORROWERS the chance to finance their PROJECTS, as defined below in section 6.2, by entering into LOAN AGREEMENTS, as defined below in section 6.1, with INVESTORS that can choose the LOAN, as defined below in section 6.4, they wish to invest into.
BORROWERS can only apply for a LOAN with a clear business objective. The decision whether to consider BORROWER to have a clear business objective is exclusively with ACREDIUS.
Persons and legal entities that provide loans, credits or similar within the scope of their business or profession (e.g., but not limited to, professional credit institutions), are excluded from asking for a LOAN using the PLATFORM.
ACREDIUS reserves the right to modify the PLATFORM without notice.
3. REGISTRATION AND USE
Registration as BORROWER or INVESTOR is required for the use of the PLATFORM. Registration requires opening a personal user account (“USER ACCOUNT”). USERS undertake to use the PLATFORM in accordance with the terms set in these GTC and instructions given by ACREDIUS.
Only one USER ACCOUNT as BORROWER or INVESTOR can be opened per legal entity and natural person. The USER ACCOUNT is personal and not transferable. Group registrations (e.g. families, couples, etc.) are not accepted.
USER registration as INVESTOR is open to INVESTORS with capability to act (no restriction of their legal ability to act in any way) and, additionally for natural persons, who are minimum 18 years old.
In order to use the PLATFORM, USER has to open and maintain a virtual payment account with a chosen independent third party responsible for the receipt and transfer of USER’s funds within the scope of the PLATFORM (“PAYMENT WALLET”). Prerequisite for the opening and use of the PAYMENT WALLET is the acceptance of the chosen independent third party’s GTC. Until further notice, Lemonway, a payment institution, authorised by the ACPR – Banque de France, under number 16568 (“LEMONWAY”), acts as chosen independent third party. LEMONWAY’s GTC can be accessed here: https://www.lemonway.com/en/terms-and-conditions/. Furthermore, USER has to provide all the information required by ACREDIUS, and, as the case may be, any other independent third party that is needed for the establishment of the contractual relationship in order to carry out the verifications required by the applicable financial regulations. With the acceptance of these GTC, USER authorises ACREDIUS and the independent third party to report their contractual relationships with USER to any and all offices where reporting is required by legal obligation. ACREDIUS reserves the right to replace LEMONWAY for another independent third party at any time. USERS will be informed of such a change in an appropriate manner.
The use of the PLATFORM is limited to registered USERS. There is no claim for registration.
USER agrees to provide all of the information necessary completely, accurately and truthfully for registration. The required information is at the sole discretion of ACREDIUS. USER must be identified in compliance with statutory (e.g. PolyReg) and legal requirements and particularly the current legislation on money laundering (Anti-Money Laundering Act). ACREDIUS reserves the right to check the information and, if necessary, to obtain complementary information from third parties.
Any changes to the provided information must be communicated to ACREDIUS without request by email to email@example.com immediately to ensure that the information on the PLATFORM is always complete and correct. Incomplete or outdated registrations and USER ACCOUNTS can be deleted by ACREDIUS after a reasonable period of time without notice.
If incorrect or fraudulent information is given, ACREDIUS reserves the right to terminate the LOAN AGREEMENT and any additional contractual relationships with USER in question without notice.
Registration alone does not automatically entitle USERS to apply their PROJECTS or grant LOANS on the PLATFORM.
ACREDIUS reserves the right to reject and not activate submitted PROJECT applications without giving a reason. ACREDIUS also reserves the right to refuse registration, to exclude USERS temporarily or permanently or no longer offer the PLATFORM without giving a motive. Permanently excluded USERS are prohibited to re-register without prior written consent of ACREDIUS. The exclusion of USER does not affect ACREDIUS’ rights against USER.
Collected texts and uploaded videos and pictures must not violate the rights of third parties – in particular, but not limited to, film or trademark rights, must not be obscene or offensive or otherwise violate decency. Any and all liability by ACREDIUS is excluded to the extent permitted by law. USERS who violate the regulations regarding uploaded data are fully liable to ACREDIUS for any direct or indirect damage arising from such violation.
ACREDIUS will never give the password to any third party and will never ask by email or phone for a password. Any such inquiries are to be ignored and immediately reported to ACREDIUS.
The mass sending of emails or other messages on the PLATFORM that could infect the PLATFORM or the SITE with Trojans, worms and other viruses, the elimination or circumvention of hacking, the use of automatic update software or programmes that allow downloading of information, is not permitted. ACREDIUS has the right to block and delete the relevant USER ACCOUNT and to exclude USER temporarily or permanently in the case of violation and reserves the right to resort to further legal steps.
The addresses and other contact information of other natural persons and legal entities which are made available through the use of the SITE and the PLATFORM must not be used by USERS for any purposes outside the actual LOAN AGREEMENT.
USERS may cancel their USER ACCOUNT at any time by email to ACREDIUS firstname.lastname@example.org under the condition that:
- USER is not involved in any PROJECT neither as BORROWER, nor as INVESTOR,
- all open LOANS are fully repaid, and
- no new PROJECT is active.
The cancellation will be valid and effective only with confirmation by ACREDIUS. At the same time, the USER ACCOUNT is disabled. Any losses resulting from cancellation of the USER ACCOUNT are borne by causing USER.
USERS must undergo identity checks in order to use the PLATFORM as BORROWER or INVESTOR, for legal reasons and to ensure the integrity of the PLATFORM. The Know your customer identification (KYC) and identification will be conducted by LEMONWAY for ACREDIUS following the following procedure:
USERS need to upload to the PLATFORM:
For natural persons:
- Two copies of valid identification documents (i.e., identity card (both sides), passport, driving licence (both sides), residence permit (both sides), last tax assessment notice dated less than one year, civil partnership registration receipt).
For legal entities:
- a copy of Form K (establishment of the controlling person of operating legal entities and partnerships both not quoted on the stock exchange according to § 19 of the PolyReg Regulations; https://www.polyreg.ch/e/formulare/formular-k.pdf)
- one copy of a valid identification document of the natural persons representing the legal entity requiring the opening of the PAYMENT WALLET (i.e., identity card (both sides), passport, residence permit (both sides), driving license (card format, both sides)),
- if applicable, one copy of a valid identification document for each beneficial owner holding more than 25% of the legal entity’s shares which aims to hold the PAYMENT WALLET (i.e., identity card (both sides), passport, residence permit (both sides), driving license (card format, both sides)), and the legal entity’s dated and signed Articles of Association.
5. USER ACCOUNT
Each USER has a USER ACCOUNT on which the activated PROJECT applications and their status are indicated (e.g., residual maturity / successful / unsuccessful). The basic parameters (e.g., loan amount, interest rate, outstanding payments) are recorded for each LOAN AGREEMENT successfully concluded.
The USER ACCOUNT can only be viewed by the respective USER.
When using the PLATFORM, USER shall observe the laws and ensure that his/her/its information, PROJECT applications, etc. are lawful and do not violate any third-party rights.
USERS are obliged to check their USER ACCOUNTS and emails regularly and promptly, especially if the PROJECT is within the INVESTMENT PERIOD, as defined below in section 6.3, considered a FINANCED PROJECT or a LOAN has been committed.
6. OPERATING MODE
ACREDIUS offers via the PLATFORM an intermediary service that allows BORROWERS to enter into LOAN AGREEMENTS with INVESTORS without direct contact. ACREDIUS is not party to the LOAN AGREEMENTS concluded between BORROWERS and INVESTORS. ACREDIUS does not assume any liability to the extent permitted by law for the risk of default or any other risks associated with concluded LOAN AGREEMENTS between BORROWERS and INVESTORS. ACREDIUS is not a bank and does not offer loans, consulting services in regard to online loans or personal recommendations.
BORROWERS can apply their PROJECTS on the PLATFORM. They then must undergo a rating of creditworthiness and check of plausibility of the PROJECT by ACREDIUS. After the creditworthiness of BORROWER and the plausibility of the PROJECT have been confirmed and the PROJECT has been uploaded to the PLATFORM, INVESTORS can commit to grant a LOAN, financing parts of or the total PROJECT during the INVESTMENT PERIOD. The PLATFORM then automatically generates a conditional loan agreement in regards to the LOAN and PROJECT between BORROWER and INVESTOR which is, among other things as set out in section 6.4, subject to the condition that the PROJECT reaches its loan objective or at least 80% of it within the INVESTMENT PERIOD (“LOAN AGREEMENT”). INVESTORS accept the LOAN AGREEMENT electronically by typing/writing “INVEST” in the respective field to activate the investment button and clicking on that button to confirm their investment.
USERS are anonymous on the PLATFORM. INVESTORS normally receive anonymised data of BORROWER (except if BORROWER voluntarily provides information in its PROJECT description that may lead to its identification). However, INVESTORS can ask for further details about BORROWER through ACREDIUS.
Payments are transferred and handled through the PAYMENT WALLET. With the application of a PROJECT or a LOAN, USER acknowledges to instruct ACREDIUS to execute the required financial transactions when they are due, including, but not limited to, the disbursement and repayment of LOANS, COSTS, as defined below in section 7.1, interest and FEES, as defined below in Section 7.2, and authorize ACREDIUS to directly withdraw COSTS and FEES from the PAYMENT WALLET. Third-party fees for any transfer of funds to the PAYMENT WALLET are borne by USER causing them.
Neither INVESTOR nor BORROWER may, or may purport to, assign, transfer, charge or otherwise deal with all or any of their rights or obligations under a LOAN AGREEMENT or other agreements within the scope of the PLATFORM in whole or in part, nor grant, declare, create or dispose of any right or interest in it without the prior written consent of BORROWER or INVESTOR and ACREDIUS.
6.2. PUBLICATION OF THE PROJECT
Once creditworthiness of BORROWER and the plausibility of the PROJECT have been positively verified, BORROWER receives an offer including the conditions of the LOAN AGREEMENT. If accepted by the BORROWER, the PROJECT is published on the PLATFORM including related information such as, but not limited to, a risk category and interest rate to repay. The PROJECT is placed on the PLATFORM for a period of 30 calendar days which ACREDIUS may extend for a reasonable period of time (“INVESTMENT PERIOD”).
Once a PROJECT is published, unregistered USERS of the SITE will be provided with a limited level of information of the PROJECT whereas only registered INVESTORS will have access to more details.
In case of special legal procedures, ACREDIUS might further need to disclose personal data of BORROWERS or INVESTORS or data regarding a PROJECT.
6.3. LOANS from INVESTORS
During the INVESTMENT PERIOD, INVESTORS can view the published PROJECTS and choose a loan amount they want to grant, with a minimum of CHF 200 per loan (“LOAN”). The PLATFORM then automatically generates a LOAN AGREEMENT between INVESTOR and BORROWER. The LOAN AGREEMENT is subject to (i) the terms and conditions of these GTC, (ii) the acceptance of the set conditions for the LOAN AGREEMENT by BORROWER after the reviewing process of ACREDIUS, (iii) the electronic confirmation of INVESTOR after committing to grant a LOAN by typing “INVEST” in a field to activate the invest button and then ticking it and (iv) the loan objective, or if applicable at least 80% of it, being reached during the INVESTMENT PERIOD. The commitment to grant a LOAN is binding until the end of the INVESTMENT PERIOD and cannot be amended or cancelled. A revocation of the LOAN is only possible if no further LOANS have been issued for the corresponding PROJECT. If the committed LOANS are sufficient to fully finance a PROJECT including related FEES, the PROJECT is considered to be fully financed (“FULLY FINANCED PROJECT”). If not enough LOANS are granted to reach the loan objective, the financing of the PROJECT cannot be achieved, except, if agreed to during the application process by BORROWER, at least 80% of the loan objective are reached (“MINIMUM FINANCED PROJECT”, together with FULLY FINANCED PROJECT “FINANCED PROJECT”). The commitment to grant a LOAN is binding whether it turns out to be a FULLY FINANCED PROJECT or a MINIMUM FINANCED PROJECT. If the PROJECT fails to achieve its loan objective or, if applicable at least 80% of it, the commitment to grant a LOAN terminates without further ado.
Once a PROJECT is considered as a FINANCED PROJECT, INVESTOR is informed by email notification.
When INVESTOR receives blinded information about BORROWER and/or a PROJECT, INVESTOR must only use this information within the scope of the PLATFORM or to discuss the LOAN or the PROJECT directly with ACREDIUS. INVESTOR must not use the information outside the scope of the PLATFORM or directly contact BORROWER without the consent of ACREDIUS.
7. COSTS AND FEES
Registration is free of charge.
After the conditions of the LOAN AGREEMENTS are fulfilled, USER will be charged the following costs (“COSTS”):
- 1% of the total received funds, i.e. the effectively financed loan amount per annum.
-Received funds = CHF 250’000;
-Duration = 3 years;
-FEES amount = CHF 7’500 (= 1% of the totally received funds x 3);
-Funds paid-out to BORROWER = CHF 242’500.
- 1% of each repayment.
Fees from third parties (especially fees and charges of financial institutions for money transfer) must be paid by USERS and will not be covered by ACREDIUS.
Money transfers to the PAYMENT WALLET are free of charge.
For each money out from the PAYMENT WALLET to USER’s bank account, CHF 1 will be charged by the current PLATFORM’S partner, LEMONWAY.
The following fees apply further for activities in regard to the LOAN AGREEMENT (“FEES”):
- CHF 10 (ten Swiss francs) for the first reminder in case of delay,
- CHF 25 (twenty-five Swiss francs) for the second reminder in case of delay, and upon initiation of debt collection: default interest of 10% of the due amount plus CHF 100/h (one hundred Swiss francs per hour) processing fee for pre-legal and legal collection measures.
- CHF 0 (zero Swiss francs) for creating and forwarding the pre-legal collection petition, and
- for opening a legal petition collection at the request of INVESTOR in the case of unsuccessful pre-legal collection, any and all official fees will be charged to INVESTOR.
The FEES according to this section are automatically collected from USERS’ PAYMENT WALLET or billed separately and are then payable immediately upon receipt of the bill.
ACREDIUS reserves the right to change the FEES at any time.
8. RISK DISCLOSURE AND USERS’ SELF RESPONSIBILITY AND DISCLAIMER OF LIABILITY
ACREDIUS excludes liability for slight negligence to the extent permitted by law.
ACREDIUS carefully evaluates the creditworthiness of BORROWERS and the plausibility of their PROJECTS on the PLATFORM. For this, ACREDIUS relies on information and documentation provided by BORROWER for evaluation purposes and on external creditworthiness sources (e.g. CRIF AG). The information or documents concerning BORROWER and its PROJECT on the PLATFORM and/or accessible via the SITE originate from BORROWER and are at the sole responsibility of BORROWER. The result of the evaluation constitutes neither a guarantee of BORROWER’s ability to pay nor a recommendation to conclude a LOAN AGREEMENT. USERS cannot derive any claim from the risk class or the set conditions of the LOAN AGREEMENT against ACREDIUS. ACREDIUS assumes no liability to the extent permitted by law for the information or documents provided by BORROWER.
In particular, ACREDIUS provides no consultation services in regard to online loans. INVESTORS are cautioned that a LOAN can be associated with risks that can result in the loss of part or the entire LOAN.
ACREDIUS only undertakes a limited review of BORROWERS according to certain formal and technical criteria which do not warrant whether the information provided is correct. It is also possible that the actual circumstances differ considerably from the reality. Liability or guarantee for the timeliness, correctness and completeness of the provided information and documents is excluded to the extent permitted by law. The same applies to third party internet sites, which are referred to via hyperlinks. ACREDIUS is not responsible for the contents of third-party internet sites and for damages in connection with their use.
When the LOAN AGREEMENT is concluded, USERS act with their own responsibility and independently and individually inform themselves about the acceptability of the associated risks. The conclusion of a LOAN AGREEMENT is in the exclusive responsibility of the respective USER.
ACREDIUS is not liable to the extent permitted by law for damages to USERS or third parties due to the behaviour (by act or omission) of other USERS in regard to the use and abuse of the PLATFORM.
ACREDIUS does not assume any liability or warranty to the extent permitted by law for:
- Rating and solvency of BORROWER,
- losses, which INVESTOR suffers because BORROWER does not pay (for whatever reason),
- collection agency, entrusted with, and
- forged or falsified documents which are submitted by BORROWER.
Furthermore, ACREDIUS is not liable to the extent permitted by law for indirect damages, consequential damages or for services provided by vicarious agents (i.e. commissioned third parties and/or affiliated companies) in regards to the use of the SITE and PLATFORM. In particular, ACREDIUS accepts no liability to the extent permitted by law for damages resulting from technical failures, inadequate, delayed or incorrect data transmission, network overloads, system interruptions, incompatibilities between ACREDIUS and the data, software and / or hardware of USERS, malfunctions, manipulation of third parties to ACREDIUS (transmission of viruses, worms, Trojans etc. or illegal access) or due to inadequate services by telecom or network providers.
ACREDIUS does not warrant and represent that the SITE and PLATFORM is (i) uninterruptedly available, (ii) error-free, (iii) compatible with USER’s or third parties’ hard- or software equipment, even if such compatibility has existed in the past, and (iv) that ACREDIUS will correct errors or malfunctions.
USERS must not make their USER ACCOUNTS available to third parties and shall be fully liable for any activities that occur under their USER ACCOUNTS. The password and username must be kept secret and must not be shared with third parties. ACREDIUS excludes liability to the extent permitted by law for any abuses.
USERS explicitly acknowledge the legally binding nature of electronic means of communication, such as electronic messages via the USER ACCOUNT, emails or SMS. The date of dispatch shall be the date of the copy of the electronic message delivered by USER.
All communication sent by post or in any other suitable form shall be deemed to be valid upon dispatch to the last known correspondence address of USER.
Within due care and diligence to the business, any damage resulting from the transmission is borne by USER, in particular from loss, delay, transmission errors, technical deficiencies and malfunctions, operational failures or unlawful interference with computer systems (from ACREDIUS or third parties) as well as systems and transmission networks accessible to the public.
10. CHANGE OF ADDRESS
USERS shall immediately notify ACREDIUS of any change of domicile, delivery address or correspondence address. In the case of omission, USERS bear the risk of incorrect delivery.
11. INSTALMENT PAYMENT
BORROWER has to pay monthly instalments consisting of interest and principal (“INSTALMENTS”) at the date of the respective maturity by means of payment transfer to BORROWER’s PAYMENT WALLET, from where it is forwarded by ACREDIUS to the PAYMENT WALLET of INVESTOR.
Payments to the PAYMENT WALLET must be done via wire transfer or credit card for the settlement of INSTALMENTS. Cash receipts as well as cash payments are not permitted. Any costs and / or fees of third parties are solely borne by BORROWER.
Should BORROWER not pay an INSTALMENT on time, the USER ACCOUNT enters into delay at the end of this day without any further warnings.
ACREDIUS will inform INVESTOR of this delay.
ACREDIUS sends a reminder via email to BORROWER on behalf of INVESTOR, setting a deadline for payment. If BORROWER does not pay within the given time period, all of the outstanding INSTALMENTS according to the LOAN AGREEMENT will be due and payable immediately.
If BORROWER does not pay within the prescribed period, a debt collection partner, on behalf of ACREDIUS, will then enter into pre-legal collection.
If the pre-legal debt collection is unsuccessful, a legal collection procedure is initiated unless otherwise stated by INVESTOR.
In case of default, BORROWER must pay to INVESTOR via the PAYMENT WALLET an additional interest rate of 10% p.a. (ten percent per annum) on the outstanding payments.
BORROWER is solely liable to INVESTOR for the payment of all costs incurred in connection with the collection of the overdue loan amount and the outstanding interest. Payment is done via the PAYMENT WALLET.
ACREDIUS charges USERS in particular the costs incurred subsequently by them. Payment reminders will be billed in ways as stated in section 7.2. Any transfer and payment fees occurring due to delay will be charged to causing USER. ACREDIUS is at any time entitled to charge USER additional costs, if these are caused by USER.
If USER breaches the law, the rights of third parties or these GTC, or if there is reasonable suspicion of such behaviour, or if ACREDIUS has another justified reason, ACREDIUS can:
- warn USER,
- remove a PROJECT from the PLATFORM, or
- disable the USER account temporarily or permanently.
In these cases, ACREDIUS explicitly reserves the right to take further legal action.
14. DATA SECURITY AND USE OF DATA
ACREDIUS’ Data Privacy Statement contains detailed information on how ACREDIUS processes personal data. The Data Privacy Statement available on the PLATFORM is integral part of these GTC. By accepting these GTC, USER also declares that he/she/it agrees to the Data Privacy Statement (https://acredius.ch/privacy-policy/).
USER agrees that ACREDIUS affiliates and third parties both in Switzerland and abroad can be contracted with the processing of the USER’s data. ACREDIUS will make sure that recipients of the USER’s data are bound by applicable confidentiality and data protection obligations.
USER agrees that ACREDIUS and/or its affiliates are entitled to disclose the USER’s data in order to comply with legal or regulatory obligations as well as to safeguard legitimate interests.
Please note that confidentiality cannot be completely ensured when transmitting emails. Under certain circumstances, emails can be read, forged, falsified, or deleted by third parties. Emails can also contain harmful computer programmes such as viruses, worms, or Trojan horses.
15. USE OF CONTACT INFORMATION
ACREDIUS is authorised to use the data provided by USERS for marketing purposes. USERS agree in particular to ACREDIUS occasionally sending them information on the company, its products and its services via mail, email and text messaging. USERS acknowledge that they can refuse the use of their customer data for marketing purposes at any time in writing via email to email@example.com.
All elements of the PLATFORM are copyrighted and trademarked. Any commercial use of these elements is only permitted with prior written consent from ACREDIUS. “ACREDIUS” is a registered trademark.
ACREDIUS is entitled to transfer all rights and obligations to one or more third parties under these GTC.
Both the membership and the rights and obligations hereunder cannot be transferred or assigned by USERS without prior written agreement by ACREDIUS.
18. INTELLECTUAL PROPERTY
The content and presentation on the SITE are protected by copyright and other intellectual property rights. ACREDIUS and any third-party with which ACREDIUS cooperates, are holders of these rights. Downloading to save, print or any other reproduction of information from the SITE for personal and private purposes is permitted under the condition that the copyright notices, or other legal title are also reproduced.
Notwithstanding the foregoing, use by third parties retain all rights in ACREDIUS. Use outside the SITE or the duplication of any type of software or other tools that are available on the SITE is expressly prohibited.
Without prior written consent of ACREDIUS, entire or partial reproduction, transmission, modification or use of copyrighted elements of this site is forbidden for public or commercial purposes.
ACREDIUS, the PLATFORM and the logo are trademarks of ACREDIUS. Any other language and / or graphic element of the site which is used to identify the origin of products or services may be the trademark of its beneficiaries, such as the brand of a business partner of ACREDIUS. Reproduction or any use of this trademark is prohibited without prior consent of the beneficiary.
Should any part or provision of these GTC be held to be invalid or unenforceable by any competent arbitral tribunal, court, governmental or administrative authority having jurisdiction, the other provisions of these GTC shall nonetheless remain valid. In this case, a substitute provision shall be negotiated that best reflects the invalid or unenforceable provision.
20. APPLICABLE LAW AND JURISDICTION
The GTC are subject to Swiss material law. The application of Swiss private international law and state treaties, in particular the United Nations Convention on Contracts for the International Sale of Goods of 11 April 1980 (CISG), is excluded.
The exclusive place of jurisdiction for any disputes between USERS and ACREDIUS arising from visiting the SITE or using the PLATFORM is Zurich, Switzerland. ACREDIUS is also free to bring suit at the USER’s place of residence.