HIVE5 PRIVACY POLICY

By using our website(s) at www.hive5.co (hereinafter referred to as the Website), by registering as a user on the Website (hereinafter referred to as the User), entering into the and/or by providing us with personal information, for the purposes of Website usage only, you consent to the terms of this privacy policy (hereinafter referred to as the Privacy Policy) and understand that we process it on the basis of our legitimate business interests or performance of agreements, such as our User Agreements and Investment Agreements. If you do not agree with any of the terms of this Privacy Policy, please do not use our Website or submit any personal information to us. User hereby also confirms that all its personal information submitted to HIVE5 is valid and accurate.

HIVE5 may, separately and in addition to the present Privacy Policy, collect the User’s consent to personal data processing that was not previously covered by the present Privacy Policy, including to processing for new purposes, to ensure that all processing is lawful, and the User can exercise their rights under the applicable data protection laws.

If the User provides to HIVE5 personal data of third parties, the User confirms that those third parties have agreed to HIVE5 processing their personal data in line with the present Privacy Policy. The User agrees that the right of HIVE5 to process personal data is in force for the duration of the any User or other Agreement.

If you have additional questions or require more information about our Privacy Policy, do not hesitate to contact us.

Hive5 marketplace d.o.o. is a company incorporated in the Republic of Croatia, registration number: 081441259, registered address: Ulica Račkoga 8, Zagreb, Croatia, e-mail address: support@hive5.co, (hereinafter referred to as HIVE5). Hive5 marketplace d.o.o. operates an online digital p2p lending platform through Website www.hive5.co.

This Privacy Policy outlines the privacy practices of HIVE5. This Privacy Policy explains when and why we collect personal information. It explains how we use this information, when we share it with others, and how we help keep it secure.

HIVE5 is data controller as defined in the regulation (EU) 2016/679 of the European parliament and of the council of 27 April 2016 on the protection of natural persons with regard to the processing of personal data and on the free movement of such data, and repealing Directive 95/46/EC (General Data Protection Regulation) (hereinafter referred to as the GDPR). HIVE5 is entitled to process and to contract a processor to process on behalf of HIVE5 the personal data of the User. The User is “data subject” as defined in the GDPR. The HIVE5 purpose for processing the User’s data is as follows:

• Providing a high-quality service;
• Holding up to date records of all activity concerning the business activity of HIVE5;
• Managing business risks including but not limited to credit risk, liquidity risk, fraud risk;
• Informing Users about their account activity or crucial changes in the HIVE5 services (other than direct marketing activities) that may affect the User;
• Meeting the requirements of day-to-day business needs;
• Developing new and improving the existing services to be relevant for its existing Users and to grow its User base;
• Protecting itself and its Users from illegal or harming events such as fraud and money laundering;
• Making available an optimal pricing offer to its Users;
• Fulfilment of the Agreement between HIVE5 and the Users for provision of services under the applicable laws and regulations;
• Fulfilment of the legal obligations of HIVE5;
• The legitimate interests of HIVE5 insofar as they do not contradict the User’s rights or interests;

The types of personal information HIVE5 may collect includes:

• Registration Information. During registration, the User fills out the registration form with their initial identity and contact information and sends it to HIVE5 electronically. HIVE5 also collects User’s electronic device information at that time.


• Entering the Website account as a User. When a person enters the Website account as the registered User, we may obtain personal data to identify the User from other visitors of the Website.


• Using the Website as a User. HIVE5 collects information about the User while using the User is using the Website, for example, to verify the User’s identity, correct contact details, manage payment instruments, process payments and similar.


• Customer surveys. When the User participates in a customer survey organized by HIVE5, HIVE5 will store personal information if applicable.


• User registration on the Website. During registration, the User fills out the registration form with their initial identity and contact information and sends it to HIVE5 electronically. HIVE5 also collects User’s electronic device information at that time.


• Website visits. When User visits the Website, information about the visitor’s activity is collected automatically with the help of cookies or equivalent technologies. Information such as browser’s identifier, the Website’s visiting frequency, average time spent on the Website and viewed pages is collected. Such information is collected with the purpose to evaluate the attractiveness of our Website and to improve its content and functionality.


• Cookies. Cookies are informational files, which join a computer or a mobile device when they are used for visiting or entering the Website account. The User may switch off cookies in its browser’s settings. However, if cookies are switched off, some services of the Website might become unavailable that require cookies to function correctly. The User may find additional information on how to manage or delete cookies at http://www.allaboutcookies.org/.


• Communication with HIVE5. HIVE5 collects information from the User when and from what the User communicates to HIVE5 via email, phone call, Live Chat, Website and other means. Similarly, HIVE5 processes personal information when contacting the User.

Below is a categorization of personal data that HIVE5 processes in relation to its Users and the data processing requirement that applies to each personal data category or may apply depending on the processing case at hand.

Below is a list of the causes that HIVE5 identifies as mandatory for processing the personal data of its Users. All of the causes for processing are expressed by HIVE5 though examples as presented:

HIVE5 process your personal information with your consent except where otherwise permitted or required by law. We may also process your personal information on one or more of the following legal bases (as identified in section V (How we use personal information) above):

Contract. The processing is necessary for our performance of the contract you have agreed to enter with us. If you do not provide your personal information to us, we will not be able to carry out our obligations under the terms of your contract.

Legal Obligation. The processing of your personal information is necessary for the purposes of complying with applicable regulatory, accounting, and financial rules and obligations and to make mandatory disclosures to government bodies and law enforcement.

Legitimate Interests. We are permitted to process your personal information if it is based on our “legitimate interests”, where we have good, sensible, practical reasons for processing your personal information, which is in the interests of Vinted and doesn’t outweigh your rights as data subjects. To do so, we have considered the impact on your interests and rights and have placed appropriate safeguards to ensure that the intrusion on your privacy is reduced as much as possible. In jurisdictions where “legitimate interests” are not a basis on which personal information may be processed, by providing us with personal information for an identified purpose, you consent to our processing it for that purpose. Where personal information is processed based on legitimate interests, e.g. for the purposes of direct marketing, you have the right to object to such processing at any time and free of charge. See the section entitled “Your Legal Rights” to find out how. If you object to us processing your personal information, we must demonstrate compelling grounds for continuing to do so.

Consent. For the purposes of Canadian law, your consent may be express or implied. Sometimes we want to use your personal information in a way that is entirely optional for you, such as to send you our promotions and news. On these occasions, you do not have to provide your consent. You can withdraw this consent at any time, subject to legal and contractual restrictions.

The HIVE5 uses cookies and other technologies to collect information when you visit our Website. We use these technologies to collect information such as your device and browser type, the date and time of your use sessions, your IP address, what you search for, your operating system, and your browsing on the Website. We use this information to improve our Website and services, including to analyze Websites usage to improve user-friendliness and to track down and prevent fraud and security issues. If you are suspended from the Website, we may use your IP address to enforce the suspension.

For more information about the Website’s cookies, tracking, and how we use tracking technologies on our website, please visit our Cookie Policy.

We retain personal information that we collect as long as necessary to fulfill the purposes for which it was collected or to meet any legal requirements, including applicable limitation periods. We have retention standards which meet these requirements:

• Personal data relating to the legal obligations of HIVE5 under the AML Law of the Republic of Croatia (including but not limited identity data, identity and account activity verifying documents, communication) shall be stored for 10 years after termination of the Agreement.
• Information on the Agreements are stored for 11 years in accordance with the Accounting Act of the Republic of Croatia after termination of the Agreement.
• Personal data shall also be retained based on our Legitimate interest for 10 years after termination of the Agreement.
• Personal data may be retained in accordance with other legal obligations of HIVE5 and in accordance with the respective time frames set therein.

HIVE5 may transfer User’s personal data to and receive it from third parties for the purpose of providing its services.
Third parties that HIVE5 may receive User’s personal data from:

• Third parties taking legal actions in connection with debt collection from the User (for instance, debt collectors, lawyers, court bailiffs, insolvency administrators and other persons acting in accordance with the applicable laws).
• Legal, accounting and auditing service providers to HIVE5.
• Government authorities and institutions, regulators, law enforcement bodies.
• Government information systems such as population registers, state social insurance agencies and etc. in accordance with the applicable legislation.
• Any person related to the fulfilment of HIVE5’s commitments arising from the Agreement (including, but not limited, to communications service providers, IT service providers, payment intermediaries, credit institutions etc.).
• Outsourced service providers that HIVE5 requires for the provision of its services, insofar as such personal data collection is necessary for the performance of functions delegated to them (including but not limited to identity verification services, fraud prevention services, money laundering prevention services).
• Third parties that the User asks or consents to disclose its personal data to.
• The User’s legal representative, Credit information bureaus, Social networks, other public information sources.

Third parties that HIVE5 may disclose the User’s personal data to:

• To affiliates, companies and enterprises related to HIVE5 or which directly or indirectly have obtained a significant share in the share capital of HIVE5, or in which HIVE5 has obtained direct or indirect participation, insofar as such information is necessary for the performance of functions delegated to them or for the provision of services by HIVE5 to its USERS and performance of the Agreement signed between HIVE5 and User.
• Any person related to the fulfilment of HIVE5’s commitments arising from the Agreement (including, but not limited, to communications service providers, IT service providers, payment intermediaries, credit institutions, audit services etc.), ensuring the recipient`s commitment to protect and not to disclose personal data received.
• Outsourced service providers that HIVE5 requires for the provision of its services, insofar as such personal data disclosure is necessary for the performance of functions delegated to them (including but not limited to identity verification services, fraud prevention services, money laundering prevention services), ensuring the recipient`s commitment to protect and not to disclose personal data received.
• Transferee of a claim, ensuring the recipient`s commitment to protect and not to disclose personal data received.
• Third parties taking legal actions in connection with debt collection from the User (for instance, debt collectors, lawyers, court bailiffs, insolvency administrators and other persons acting in accordance with the applicable laws), ensuring the recipient`s commitment to protect and not to disclose personal data received.
• Legal, accounting and auditing service providers to HIVE5, ensuring the recipient`s commitment to protect and not to disclose personal data received.
• Government authorities and institutions, regulators, law enforcement bodies.
• Government information systems such as population registers, state social insurance agencies etc. in accordance with the applicable legislation.
• credit information bureaus.
• Third parties that the User asks or consents to disclose its personal data to.
• The User’s legal representative.
• Third parties that refer the Users to HIVE5.
• Third parties to which that HIVE5 refers its Users.

In all instances when HIVE5 discloses personal data of its Users to third parties HIVE5 ensures legal protection of the personal data, including where applicable signing of a written non- disclosure agreement with the recipient, and the recipient’s commitment to protect and not to disclose personal data received.

If HIVE5 needs to transfer the personal data of its Users to a third country (i.e. a country outside the European Union), HIVE5 will do this under one of the following conditions: (i) the destination country has been recognised by the European Commission as ensuring adequate level of personal data protection (Adequacy decision) or (ii) Other appropriate safeguards exist for the data transfer (including but not limited to binding corporate rules, standard data protection clauses in the cooperation agreement or an approved code of conduct, in accordance with Article 46 of GDPR).

You have rights under data protection laws in relation to your personal information.

• Access your personal information

the User has the right to request HIVE5 access to the personal data that HIVE5 is processing about the User and certain information related to its processing (in accordance with Article 15 of GDPR).

HIVE5 will take appropriate measures to provide the requested information without undue delay and in any event within one month of receipt of the User’s request. That period may be extended by 2 (two) further months where necessary, taking into account the complexity of the task. HIVE5 will inform the User of any such extension within one month of receipt of the request, together with the reasons for the delay.

HIVE5 reserves the right to verify the requesting User’s identity before executing the User’s request in order to meet its legal obligation to protect User personal data from unauthorized disclosure.

Where the User makes the request by electronic means, the information will be provided by electronic means where possible, unless otherwise requested by the User. A copy of the personal data undergoing processing will be provided free of charge. HIVE5 may charge a reasonable fee for any further copy requests taking into account the administrative costs of providing that information.

Where requests from the User are manifestly unfounded or excessive, in particular because of their repetitive character, HIVE5 may either: (i) charge a reasonable fee taking into account the administrative costs of providing the information or communication or taking the action requested, or (ii) refuse to act on the request.

Where the User’s personal data has been transferred to a third country, the User may ask for information on the safeguards that were applied to that data transfer and where these safeguards can be viewed.

• Request correction

The User may request for correction of the personal information that we hold about you. This enables you to have any incomplete or inaccurate data we hold about you corrected, though we may need to verify the accuracy of the new data you provide to us.

• Right to erasure

The User may request erasure of personal information that in User’s opinion is not needed to be processed under an active Agreement (in accordance with Article 17 of GDPR). This enables you to ask us to delete or remove personal information where there is no sufficient reason for us continuing to process it. You may also ask us to delete or remove your personal information where you have successfully exercised your right to object to processing (see below), where we may have processed your information unlawfully, or where we are required to erase your personal information to comply with local law. HIVE5 may still continue processing the personal data due to legal or contractual requirements or to exercise its legal rights. HIVE5 shall notify the User if the request for erasure makes HIVE5 unable to continue providing service to the User.

• Right to data transfer

The User has the right to receive the personal data which it has provided to HIVE5 in a structured, commonly used and machine-readable format and have the right to transmit that data to another data controller without any hindrance from HIVE5, where: (i) the processing is based on Consent or an agreement; and (ii) the processing is carried out by automated means.

The User has the right to have the personal data transmitted directly from HIVE5 to another controller, where technically feasible. This does not apply to such information as, for example, material developed by HIVE5 from analyzing the original data.

• Right around mechanized and manual management

The User has the right to request human intervention where a mechanized decision is normally applied, to express its opinion on the mechanized decision and to contest the decision made automatically.

• Withdrawal of consent

The User has the right to withdraw consent at any time if we are relying on consent to process your personal information, in accordance with the applicable data protection legislation and subject to applicable exceptions. However, this will not affect the lawfulness of any processing carried out before you withdraw your consent.

Our security is intended to help protect against accidental or unlawful destruction, accidental loss or alteration, unauthorized disclosure or access, and any other unlawful forms of processing.

We use technical, physical, and organizational measures to help protect against accidental or unlawful destruction, accidental loss or alteration, unauthorized disclosure or access, and any other unlawful forms of processing. Personal information may be accessed by persons within our organization or our third-party service providers or third parties (such as law enforcement) who require such access to carry out the purposes indicated above, or who are otherwise permitted or required by applicable law.

HIVE5 is entitled to call and to send text messages (SMS) to the telephone number indicated by the User, to send letters via e-mail to the e-mail address indicated by the User, as well as dispatch mail to the User’s postal address indicated by the User. HIVE5 will communicate personal data breach that is likely to result in a high risk to the rights and freedoms of the User, in case such occurs to the User without undue delay.

HIVE5 is entitled to make automated decisions regarding the provision of services and the consequential procedures applicable to the User based on information collected about the User. HIVE5 may apply profiling to its Users in the course of its day-to-day business activities. Automated decisions may be made:

• during the registration process of new Users;
• during the ongoing business relationship of Users. HIVE5 may determine the communication that is relevant for each User based on their interests.

Automated decisions assist HIVE5 in being effective, scalable and relevant, and they may affect the way HIVE5 service is rendered to the User – this includes but is not limited to:

• payment processing based on User account activity or HIVE5 operational requirements;
• fees based on HIVE5 business model or service availability;
• tailored communication based on User interests or account activity;
• the specific services available based on User interests or account activity;
• User account status based on HIVE5 automated check results.

If you have any questions regarding this Privacy Policy or any Personal Information you have submitted to us, or if you would like to:

• access Personal Information that you have already provided to us so that you can correct or update it or request that it be deleted;
• exercise another of your rights; or
• submit a complaint, or report any violation of this Privacy Policy,

Please advise us by contacting support@hive5.co. Also, Users has the right to communicate with the Data Protection Officer of HIVE5 on data protection issues by e-mail: support@hive5.co

If the User (except Users in United Kingdom) and HIVE5 cannot resolve a complaint or any other related issue on data protection issues, the User may lodge a complaint with the data protection supervisory authority in the Republic of Croatia: Personal Data Protection Agency, registered office address at Selska cesta 136, Zagreb, 10 000, Croatia.

1. GENERAL PROVISIONS

1.1. This Agreement shall be concluded between the PLATFORM and User (as defined herein below). This Agreement shall set forth User rights and duties when User registers in the PLATFORM, use the services provided in the PLATFORM, the liability between the parties to the Agreement, the principles of operation of the PLATFORM, terms and conditions of procedure for use of the PLATFORM.

1.2. Annexes to this Agreement and all the other agreements and/or the documents made available on the PLATFORM may establish separate terms concerning the use of the PLATFORM and/or special rights, obligations and responsibility applicable to the Agreement parties. If the provisions of the other agreements made available on the PLATFORM or concluded between You and Hive5 separately are inconsistent with the provisions set out in the present Agreement, the provisions of relevant documents and/or agreements which are considered special with regard to the provisions of this Agreement shall apply. Before registering in the PLATFORM and approving this Agreement, User must carefully read the Agreement.

1.3. For the purposes of this Agreement, the used terms shall have the following meanings:

2. USER REGISTRATION

2.1. In order to use the PLATFORM and the services provided by the PLATFORM, a person has to register in the PLATFORM, provide all documents and information requested by the PLATFORM, approve of this Agreement and familiarize himself with the Privacy Policy and other documents related to this Agreement. By filling out and submitting the Registration application on the Website of the PLATFORM the User certifies that it has acquainted himself with the Agreement and agrees to it. Agreement is deemed to be signed by the Parties and legally binding to the Parties from the moment User’s profile is created, made accessible for the User on the Website with User’s login data and the PLATFORM receives User's first deposit to the PLATFORM’s bank account. User is not allowed in any form or manner to give third parties access to its login data for the Website of PLATFORM.

2.2. A User may conclude the Agreement only personally on its own behalf, or on behalf of the legal person lawfully represented by User. The Agreement may be concluded on behalf of the legal person only by the head of the legal person or another lawful representative who has powers and/or necessary decisions provided for in the legal acts and/or internal documents of the legal person. User has to provide the documents evidencing the right of representation in the name of the legal person.

2.3. Any person applying for the status of a User undertakes to ensure that prior and after becoming a User with registered User’s profile:

2.3.1. The User is a natural person with legal capacity to act or a legal person;

2.3.2. The User is not a resident of country which is included to European Commission high risk third countries list;

2.3.3. The User has a current account opened in its name with a payment institution, credit institution or its branch registered in the EU;

2.3.4. In acquiring the Claim rights, the User will not use funds that directly or indirectly have been received as the result of criminal offence or are related to the financing of terrorism or an attempt of such activities;

2.3.5. The User is not under the influence of alcohol, narcotic, psychotropic or any other substances;

2.3.6. The User in not part of an insolvency process and/or bankruptcy and/or liquidation (only applicable to legal persons).

2.4. By concluding this Agreement, the User agrees to cooperate with Hive5 so that Hive5 could identify the User (and if the User is a legal person, identify the User’s representatives and beneficial owners), confirm the User’s contact data and agree and undertake to provide all necessary identity documents and any relevant information and clarifications on User’s activities. According to the regulation applicable in the European Union, Hive5 shall be obliged to collect information on the User; therefore, Hive5 may request for additional information on User’s operations, origin of funds, planned transactions etc. The requested information depending on the requirements of the legal acts may include original documents or copies thereof and notarized or apostilled copies. All documents must be provided in Croatian and / or English language, information must also be regularly updated.

2.5. Upon the successful registration at the Website of PLATFORM, User’s profile and User’s virtual account shall be automatically created, and User’s Identification number and password shall be assigned to it.

2.6. The User shall be fully liable for correctness and relevance of the information, data, documents provided by the User. If the User provides incorrect information, fails to update it in due time which may result in infringement of the powers granted to User/User’s representative, full liability shall fall on the User and / or persons acting on the User’s behalf.

2.7. The PLATFORM has the right to reject registration of a new User without specifying the reason.

2.8. In case the User is not a natural person residing in the Republic of Croatia or a legal person established in the Republic of Croatia, by concluding this Agreement, the User confirms that the intention to enter into the Agreement and use the services provided by the PLATFORM arose at the User’s own initiative, and that the PLATFORM did not actively offer or induce the User to enter into the Agreement for the services provided by the PLATFORM.

3. CREATION AND CREDITING OF THE USER’S VIRTUAL ACCOUNT

3.1. PLATFORM identifies any person applying for become a User of a Platform. PLATFORM identifies the User remotely relying on data received during registration and information received from the bank. After successful identification, the received funds are made available in User’s virtual Account for the purchase of Claim rights.

3.2. During the identification process the PLATFORM has the right to request the copies of the following documents:

3.2.1. personal identification document issued in EU or document valid for travel issued in EU;

3.2.2. utility invoice issued at the address specified by the User;

3.2.3. taxpayer’s certificate and/or taxpayer’s number;

3.2.4. any additional document for the purpose of client identification in compliance with legal acts.

3.3. For the sake of complete User identification PLATFORM has the right to contact the User and require submission of additional documents and/or information certifying the User’s identity at any time before or during the term of an Agreement at its discretion, freely determine additional requirements for the identification of the User, as well as supplement the process of identification.

3.4. All User’s Transactions are kept in the User’s profile. The User shall be entitled to transfer funds to the PLATFORM’s bank account to conduct Transactions at the Website of the PLATFORM only after successful registration of the User by the PLATFORM.

3.5. All actions conducted by the User, including payments, orders, notices, etc. shall be binding to the Parties after their submission through the PLATFORM.

3.6. In case User’s password has become known to a third party: the User shall immediately change its password and notify the PLATFORM immediately, but not later than then the moment when such information had become known to the User, in writing or by phone with request to block access to the User’s Account until the moment the PLATFORM receives User request to unblock the access to its account and request to issue a new password.

3.7. Hive5 shall be entitled, at its own discretion, to refuse to confirm User’s registration, confirm User’s identity and shall have the right to establish additional requirements for User registration or impose restrictions on operations in the Platform.

3.8. Any transaction made on the PLATFORM by means of User’s login data for the PLATFORM shall be deemed as a legally binding Transaction made by the User.

3.9. The User undertakes full responsibility and liability for Transactions made by third parties with access to its login data for the Website of PLATFORM.

4. USER’S VIRTUAL ACCOUNT

4.1. The User shall transfer the funds it wishes to use for the purchase of Claim rights in currency acceptable to the PLATFORM, to the PLATFORM’s bank account.

4.2. The PLATFORM ensures that the received funds, excluding any deducted fees, is made available in the User’s virtual Account.

4.3. User’s funds received in a currency other than the acceptable currency shall be returned to the User or converted into any currency acceptable to PLATFORM according to the currency exchange rate of the payment or credit institution holding the respective account of PLATFORM. All expenses related to the returning or conversion of funds are covered by the User.

4.4. All funds shall be transferred by User to PLATFORM’s bank account only from its own bank account.

4.5. The minimum amount for the first purchase of Claim rights is 10 EUR.

4.6. User has to indicate its User identification number within the payment order when making the transfer of funds from its bank account to the PLATFORM’s bank account. The PLATFORM has the right to deem such payment as non-received until the identification thereof.

4.7. The PLATFORM shall process and verify the origin of the funds, which may take up to 2 (two) business days after the funds are credited to the PLATFORM’s bank account.

4.8. The transfer of funds directly or indirectly received as a result of a criminal offence, related to the financing of terrorism or attempt of any such kind of activities, to PLATFORM’s bank account is illegal.

4.9. In instances where during the registration process of the User or the conclusion of the Transaction PLATFORM has suspicions regarding origin of the money, possible money laundering, financing of terrorism or an attempt of these or similar type of activities determined at sole discretion of PLATFORM, PLATFORM has the right to take actions as provided for in Section "Prohibited Actions" and “User’s restrictions and termination of the Agreement”.

4.10. User’s funds transferred to the PLATFORM’s bank account shall be kept in PLATFORM’s bank account separately from the PLATFORM’s funds.

4.11. No interest shall be calculated and paid to the User for the User’s funds kept in PLATFORM’s bank account.

4.12. PLATFORM has the right to use the User’s transferred funds in accordance with conditions of the Agreement with a purpose to facilitate transfer of Price of the Claim rights from the User to the respective Lender, considering that PLATFORM has the also the right to transfer the received funds from its User’s to a different company in cases where services available at the Website of PLATFORM are taken over by different company.

4.13. PLATFORM transfers User’s funds to the Lender in accordance with the terms and conditions established in the Investment Agreement.

4.14. The User confirms that the transfer of funds to the PLATFORM’s bank account is carried out with a purpose of crediting the User’s virtual Account and such funds are not to be considered as funds of the PLATFORM or as loan to the PLATFORM, and the User shall obtain the right of claim against the PLATFORM in the amount reflected in the User’s virtual Account.

4.15. The User has the right at any time to submit an electronic request to the PLATFORM for repayment of funds, available in User’s virtual Account.

4.16. The repayment of funds indicated in clause 4.15. of this Agreement is made to the same account from which the particular funds were initially received, unless repayment is technically impossible due to blocked or closed account, considering that in such case User has to indicate a different account opened in its name to complete this transfer of funds.

4.17. The PLATFORM has the right to charge commissions fees from the funds received from the User and funds transferred to the User in accordance with the Price List.

5. AUTOMATIC PURCHASE OF CLAIM RIGHTS

5.1. The Automatic Investment Function is a way for the User to pre-determine the Pre-Automatic Investment Strategy and, on the basis of such pre-determination, to automatically invest. The investor can change the settings of the Automatic Investment Function. The User shall be held fully responsible for the settings selected and confirmed by the User for Automatic Investment, as well as for resulting consequences of such actions.

5.2. The Automatic Investment functions according to the settings selected and confirmed by the User. In no instances shall the PLATFORM be deemed to be giving any recommendations or investment advice to the User regarding the purchase of Claim rights by offering the Automatic Investment Function.

5.3. The User shall be entitled to change settings confirmed by it in the Automatic Investment Function, as well as temporally or permanently suspend its activity at any time during the period of validity of the Agreement.

6. MANUAL PURCHASE OF CLAIM RIGHTS

6.1. After the User’s identification and creation of User’s Profile in accordance with terms and conditions of this Agreement, the User shall have the right to purchase Claim rights offered through the PLATFORM with funds transferred to the User’s virtual account (if there are any).

6.2. Upon receiving the Application, the PLATFORM shall prepare a summary of information of all received Applications available for the User on the PLATFORM. The User shall verify the indicated information and if it conforms to the will expressed by the User, the User shall confirm the conclusion of the Investment Agreements in order specified on the PLATFORM.

6.3. Each time a User purchases certain Claim rights on the PLATFORM (either automatically, or manually), the PLATFORM shall transfer funds from the User’s virtual Account to the corresponding Assignor’s (Lender’s) account in accordance with the provisions of the Investment Agreement, considering that for each such purchase of Claim rights a legally binding Investment Agreement is generated with the particular Lender and is made available at User’s profile.

6.4. The Investment Agreement is deemed to have become binding for the User upon confirmation, and PLATFORM shall immediately transfer the funds specified in the Investment Agreement from the User’s virtual Account to the Lender. The Claim rights shall be deemed as transferred to the User after the funds were transferred from the User’s (New creditor’s) virtual account to the corresponding Assignor’s (Lender’s) account in accordance with the terms and conditions of the Investment Agreement.

6.5. By submitting the Application, the User authorizes the PLATFORM to carry out the transfer of funds indicated in the Application from the User’s virtual Account to the corresponding Assignor in compliance with the Agreement and the Investment Agreement.

6.6. The PLATFORM shall register and execute received Applications on the Website of PLATFORM in chronological order. PLATFORM has the right to unilaterally amend and supplement the order of execution of the Applications without prior notification of the User.

7. INVESTMENT AGREEMENT

7.1. The Investment Agreement is deemed to be concluded from the moment when the Price of the Claim rights is transferred from the User’s (New creditor’s) virtual account to the corresponding Assignor’s account in accordance with the terms and conditions of the Investment Agreement.

7.2. The PLATFORM shall ensure that the User at any given point in its User’s profile can review the content of concluded Investment Agreements, information on the purchased Claim rights, as well as the schedule (if any) of repayment of the Loan and Interest payment from the moment of entering into the Investment Agreement and during its effective period.

7.3. The Lender transfers all payments received from the Borrower to the PLATFORM pursuant the Investment Agreement, excluding the part of the Interest, which the Lender does not assign.

7.4. Upon receiving the Borrower’s payment from the Lender, the PLATFORM shall distribute all received funds among all New creditors, who have acquired Claim rights against the Borrower. Such distribution shall occur in the following order: the principal amount of the Loan paid by the Borrower shall be distributed proportionally to the amount of the Claim rights of each New creditor and number of days that has passed from the moment of purchase of the Claim rights until the moment when the Loan is repaid (or until the Lender has repurchased the Claim rights).

7.5. The PLATFORM shall transfer funds equivalent to each User’s part of the Claim rights to the Users’ virtual accounts immediately after allotment of received parts.

7.6. Legal penalty and other additional Claim rights payable pursuant to the Agreement and Investment Agreement shall be calculated assuming that one calendar year consists of 360 days and every

month consists of 30 days for the purpose of calculation of the Interest, statutory late payment interest and other ancillary claims, as well as the amounts to be paid based on the Agreement.

7.7. Considering that the provisions of the Investment Agreement include User’s (New creditor) authorization to the Lender to act as the person which ensures management of the Claim rights, the Lender shall undertake to make all the necessary and permissible activities to facilitate the timely and full recovery of the Loan without involving the User. In instance where the Borrower delays fulfilment of its obligations for more than 60 (sixty) calendar days, the Lender undertakes to repurchase the Claim rights from the User.

7.8. All principal conditions on purchase of the Claim rights, payment of the Price of the Claim rights and repayment of the principal amount of the Claim rights shall be specified in the Investment Agreement.

7.9. The User grants the right to the Lender to unilaterally extend the Loan repayment period without additional prior confirmation by the User. In such instances, the Parties agree that it is considered, that the Borrower has delayed the Loan repayment period and the Lender shall repurchase the User’s Claim rights in accordance with conditions of the Investment Agreement.

8. OBLIGATIONS AND RIGHTS OF THE USER

8.1. The User’s account in the PLATFORM may be used only by the User or only by the head of the legal person or another lawful representative who has the powers on behalf of the legal person. All actions carried out when the User logs in to the PLATFORM shall be deemed to have been carried out by the User. The User hereby confirms its understanding and certifies that all User actions carried out when User is logged on to the PLATFORM shall be deemed to be proper consents and approvals signed by the User using an electronic signature.

8.2. By accepting the terms and conditions of this Agreement, the User certifies that it is capable of making individual decisions regarding purchase of the Claim rights and conclusion of the Investment Agreement, as well as understands all risks, including the risk of failure to recover the Loan or its part.

8.3. The User undertakes:

8.3.1. not to use the PLATFORM for carrying out illegal transactions, including fraud and money laundering;

8.3.2. to provide true and correct information about itself upon registering on the PLATFORM and while using services available at the PLATFORM;

8.3.3. to use only secure means and devices of electronic communication and data transmission;

8.3.4. immediately, but no later than within 5 (five) business days notify PLATFORM in writing of any changes to the User’s first name, last name, e-mail address, User’s bank account or other information kept on the PLATFORM;

8.4. The User undertakes to ensure in its User’s virtual Account sufficient amount of funds for conclusion of Transactions. The PLATFORM shall not execute any payments and / or Transactions in instances there are not enough funds in the User’s Virtual Account.

8.5. The PLATFORM shall bear no liability whatsoever for the losses incurred by the User in instances where the PLATFORM refuses to execute any payments and / or Transactions due to the shortage of funds in the User’s virtual Account.

8.6. In instances where the User’s Virtual Account has a negative balance, for any reason whatsoever, the User shall immediately credit his Virtual user Account with the amount necessary for the account to reach positive balance again.

8.7. The User undertakes not to contact or meet the Borrower in relation to the concluded Investment Agreement and the Claim rights, as well as not to visit the Borrower in its address or place of work, not to contact it without PLATFORM’s or the Lender’s mediation, not to demand making of payments, not to initiate court or arbitration court proceedings against the Borrower for the entirety of the Investment Agreement’s validity term.

8.8. In case the User’s virtual Account had been mistakenly credited or debited due to any kind of technical issue of the PLATFORM, the PLATFORM has the right to unilaterally debit or credit the User’s virtual Account to resolve the issue.

8.9. The User is informed and acknowledges, that the PLATFORM and the Lender have the duty to ensure confidentiality of the Borrower’s personal data. Pursuant to the Investment Agreement PLATFORM and the Lender at their own discretion may provide the User only with limited information on the Borrower. The User shall not request any additional information relating to the Borrower from the PLATFORM or the Lender, as well as submit any claims in relation thereof.

9. PLATFORM FEES

9.1. By consenting to this Agreement, the User confirms that he has an obligation to pay Platform fee’s pursuant to the Price List (if applicable), plus fees related to incoming, outcoming payment to payment or credit institution accounts indicated by the User, considering that the PLATFORM is allowed to unilaterally debit User’s virtual Account for any due fee applied by the PLATFORM or fees the PLATFORM incurs by executing User’s fund transfer requests. The User has undertaken to pay the fees in accordance with the established terms and conditions and under the established procedure.

9.2. The User hereby confirms its understanding that the revenue received by the User on the PLATFORM is subject to income tax in accordance with applicable tax laws, and the PLATFORM bears no responsibility whatsoever of paying applicable taxes on behalf of its Users.

10. LIABILITY

10.1. Each Party shall be liable for all fines, penalties, direct losses incurred by the other Party due to a breach of the Agreement committed by the Party at fault. The Party at fault shall undertake to indemnify the aggrieved Party against the direct losses incurred as a result of arising of such liability.

10.2. The Parties shall not be liable for failure to fulfil their obligations if the non-fulfilment has occurred due to force majeure circumstances, which the Parties could not have predicted or afflicted, including power outages, adopted Applicable law, strikes, military activities, natural calamities, or other circumstances, which the Parties could not have prevented or predicted. The Party suffering from force majeure circumstances has the right to refer to them only and solely in case if it has taken all steps that depend on it in order to fulfil the obligations under the Agreement. Once the force majeure circumstances no longer occur, the Parties must immediately resume the performance of their obligations under the Agreement.

10.3. The User is liable for all losses incurred as a result of unauthorized access to its User data and User’s Profile.

10.4. Hive5 shall be liable only for direct losses incurred as a result of a direct and material breach of this Agreement related to the activities of Hive5 as a PLATFORM operator through intention or gross negligence of Hive5 and only for such losses which could be reasonably expected by Hive5 at the moment of breach of the Agreement;

10.5. If as result of an illicit activity of the PLATFORM the User suffers losses, PLATFORM shall reimburse all direct losses inflicted upon the User. The extent of damages to be reimbursed by PLATFORM is restricted with the amount of funds present in the User’s virtual Account at the time when such losses incurred.

10.6. Hive5 is not liable against the User in any way whatsoever for the actions of the Borrower and/or the Lender.

10.7. Hive5 shall not be liable towards the User for any losses that the User has or might suffer as a result of using the PLATFORM and services available at it, including in situations:

10.7.1. where the User has failed to comply with the provisions of the Agreement;

10.7.2. where third party gets hold of User’s login data, until the moment when the User’s profile has been blocked;

10.7.3. that occur due to interrupted communications and other interruptions or obstacles that are not dependent on the PLATFORM;

10.7.4. where User’s profile has been blocked;

10.7.5. where User fails to fulfill its obligations under the Investment Agreement.

10.8. PLATFORM and the Lender have no obligation to reimburse to the User the Price of Claim rights (in whole or in part) till the Loan maturity date in accordance with the Loan Agreement, unless indicated otherwise in the Agreement or Investment Agreement.

11. CONFIDENTIALITY AND PERSONAL DATA PROTECTION

11.1. All information obtained under this Agreement and contained on the PLATFORM including the password created by the User, shall be confidential and the Parties undertake not to disclose this information to any third parties.

11.2. User’s personal data or personal data of User’s representatives, beneficial owners (if the User is a legal person) shall be processed according to the Privacy Policy of the PLATFORM, which forms an integral part of this Agreement. In instances where the User is a legal person, User as a controller of the data of User’s representatives and beneficial owners has to ensure that the data subjects are notified of provision of personal data to the PLATFORM and processing of their data as required by the legal acts regulating processing of personal data. In certain cases, the PLATFORM shall be entitled to request the data subjects to provide original written consents/approvals of information on personal data processing.

12. PROHIBITED ACTIONS

12.1. When using the PLATFORM, the User shall be prohibited from the following:

12.1.1. breaching this Agreement and other agreements concluded between the Parties, legal acts, including but not limited to, the requirements for prevention of money laundering and terrorist financing;

12.1.2. using the PLATFORM for any unlawful purposes, including but not limited to, the following: swindling, money laundering, terrorist financing, unlawful provision of financial services etc.;

12.1.3. provision to the PLATFORM of incorrect or false information, not providing the PLATFORM with the requested information, documents, not updating the relevant information it in due time;

12.1.4. spreading computer viruses or similar tools or take other illicit actions which may result in malfunctions or failures of the PLATFORM;

12.1.5. transmitting or entering data which could contain software viruses, or any other code, files or applications intended for disturbing, restricting or damaging the functions of the PLATFORM or equipment thereof, software or communication equipment including the applications which automatically track, use and/or save the information available/provided in the PLATFORM;

12.1.6. using other systems for login to the Platform or using it;

12.1.7. disclosing the User’s login information to the PLATFORM to any third parties, using the passwords of third parties and other login data;

12.1.8. carrying out other actions which may pose risk to the PLATFORM and / or its operator, including but not limited to, actions affecting functioning of the PLATFORM and/or the data contained on the PLATFORM in anyway using other additional systems unauthorized by Hive5.

12.1.9. promoting and/or advertising other identical or similar platforms or other financing sources.

12.2. In instances where Hive5, as a PLATFORM operator, has suspicions that the User has carried out prohibited actions, Hive5 may take actions to protect its interests, User interests or interests of third parties. Such actions may include, but not be limited to:

12.2.1. closing the User account or restricting the User’s access to it;

12.2.2. restricting User’s activities on the PLATFORM, putting limits to its investments;

12.2.3. refusing to execute Transactions and / or any payments or terminating them if they have already been executed.

12.2.4. notifying the competent public authorities of User’s activities;

12.2.5. terminating this Agreement without prior notice;

12.2.6. assuming other legal measures and remedies available to the PLATFORM operator in applicable law.

12.3. The User shall not be entitled to claim any compensation of damages in instances Hive5, acting as a PLATFORM operator, applies any combination of the measures provided in this Section of the Agreement.

12.4. Hive5 and (or) the PLATFORM reserves the right to supplement countries to the high-risk countries list at its discretion and publish the list on the PLATFORM’s website.

13. TERMINATION OF THE AGREEMENT

13.1. This Agreement may be terminated at any point by mutual agreement between the Parties.

13.2. Hive5 shall be entitled to terminate this Agreement or restrict the User’s right to use the Website of PLATFORM and/or delete User’s profile without prior notice in the cases or suspecting the cases provided for in Section "Prohibited Actions".

13.3. In instances where the Agreement is terminated in accordance with Clause 13.2 of the Agreement due to the fault of the User, all Investment Agreements concluded by the User are deemed to be terminated immediatelly, considering that the respective Claim rights amount and interest amount, which is calculated until the termination date, is returned to User’s bank account.

13.4. The User at any time during the validity period of the Agreement is entitled to request termination of the Agreement and deactivation of its User’s Profile on a condition that the User does not own any Claim rights served by PLATFORM and has no outstanding payment liabilities towards the PLATFORM or any other party to a made Transaction. In such case the Agreement will be considered void from the moment PLATFORM receives such request from the User and finds that there are no circumstances which would exclude the possibility to terminate the Agreement without delay.

13.5. If the Agreement is terminated (for any reason), the PLATFORM transfers all funds that are available on the User’s virtual Account to the User’s bank account no later than within 5 (five) business days from the moment of the termination of the Agreement, unless not allowed by applicable laws.

14. INSOLVENCY

14.1. In case of insolvency of the PLATFORM:

14.1.1. The PLATFORM provides the User with full information on User’s transactions concluded within the PLATFORM.

14.1.2. conclusion of all new Investment Agreements on the PLATFORM shall be stopped immediately. All funds available on the User’s profile shall be returned to the User and the Assignor unless not allowed by applicable laws.

14.1.3. the Investment Agreement between the Assignor and the New creditor remains in effect.

14.2. In case of insolvency of the Assignor, the procedure established in the Investment Agreement signed between the Assignor, the New Creditor and Hive5, acting as the PLATFORM operator, shall be applicable.

15. FINAL PROVISIONS

15.1. The User shall not be entitled to assign any rights and duties arising out of this User Agreement without a prior written consent of Hive5.

15.2. All disputes between the User and Hive5 shall be resolved by negotiations in good faith. In the event of a failure to reach an amicable agreement, the dispute shall be finally resolved in a competent court in the Republic of Croatia, in accordance with the applicable laws and regulations of the Republic of Croatia.

15.3. Issues that are not covered by the Agreement shall be settled in accordance with the conditions and procedure published on the Website of PLATFORM.

15.4. All notifications from one Party to the other must be put in writing and sent to the other Party within the PLATFORM, by mail or e-mail (in case of the User - to the address indicated in the User’s profile). Correspondence sent in mail shall be deemed received on the 5th (fifth) calendar day following the date indicated on the stamp by the postal service provider on the acceptance of a registered letter. Notifications sent to the User’s e-mail address shall be deemed received within 24 (twenty-four) hours after the dispatch.

15.5. The PLATFORM is entitled to unilaterally amend this Agreement, as well as the Price List, by notifying the Users on such amendments by posting them on the PLATFORM at least 30 (thirty) days before such amendments enter into force.

15.6. Notwithstanding the conditions of Clause 15.5, the PLATFORM is entitled to amend this Agreement unilaterally without prior posting on the PLATFORM in cases where the amendments are made:

15.6.1. for the benefit of the User and / or amendments do not affect existing rights of the User;

15.6.2. due to a new service and / or a new feature being introduced;

15.6.3. in order to make technical / fine-tuning corrections or any kind of amendments of that nature;

15.6.4. for the purposes of complying with any applicable law, especially applicable law regulating Anti Money Laundering issues.

15.7. Any User disagreeing with the amendments can exercise its right to unilaterally terminate the Agreement as provided in Section 13 of this Agreement.