Crowdfunders. We do not offer refunds to Crowdfunders using Vested to raise capital.
Investors. The Crowdfunders Offering Document sets out the full terms on which the investor agrees to subscribe for such shares. Investors have the right to withdraw their investment within 48 hours following the investor’s subscription. Investors also have the right to withdraw their investment within 48 hours of being notified by Vested of an amendment to the Crowdfunder Offering Document. Notice of any cancellation must be received by Vested by email during this 48 hour cooling off period. If an investor does not exercise its cancellation right during the cooling off period then it will no longer be able to cancel its investment in the Crowdfunder.
If an investor exercises their right to cancel an investment during the cooling off period, any funds transferred by the investor to Vested, will be refunded to the investor without any deduction, within five business days after the notice. If an investor is eligible for a refund, the refund is made to the original payment source.
If a Crowdfunder does not meet its minimum funding goal by its deadline, all contributions will be refunded back to investors by Vested within five business days.
If, at any point in time, any of the following occur:
- Vested makes a general assignment for the benefit of its creditors;
- Vested commences or institutes any application, proceeding or other action under any requirement of law relating to bankruptcy, insolvency, winding-up, reorganization, administration, plan of arrangement, relief or protection of debtors, compromise of debts or similar laws;
- there is a discontinuation of the operations of the Vested crowdfunding portal for any reason;
within two business days of the occurrence of any of the actions listed above, Vested will notify all investors who have funds held by Vested, all Crowdfunders currently performing an offering on the Vested platform and the Ontario Securities Commission of the above action and how it will impact them.
In the case that there is a discontinuation of the operations of the Vested Crowdfunding portal for any reason, all investor funds held by Vested for which either the minimum funding goal of the Crowdfunder or the Crowdfunder offering deadline has not been reached will be refunded back to investors by Vested within five business days.
In order to effect any refund, additional anti-money laundering or other checks to verify the identity of the transferee of the funds and the recipient of the funds may need to take place, prior to its return. Accordingly, in order to ensure compliance with anti-money laundering obligations, there may a delay in returning funds to an Investor who cancels their Investment until these checks have been completed satisfactorily and they have fully complied with their obligations under the anti-money laundering regulations.
General. We hold the right to change/update the refund policy without prior notice. All refunds will be treated with the refund policy live on that date.
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