Terms of Use of CrossLend's website for entrepreneurs

Welcome to the website www.crosslend.com (the “CrossLend Platform”). The website www.crosslend.com is operated by CrossLend GmbH, Kemperplatz 1, 10785 Berlin (“CrossLend”). CrossLend makes technical services of the CrossLend Platform available to potential and active borrowers (“Borrowers”) and investors (“Users” or “Investor” or “you”).
For the provision of the services offered under these Terms of Use, CrossLend does not act as a credit institution nor as a financial services provider in accordance with the German Banking Act (Kreditwesengesetz).
This version of the terms of use (“CrossLend ToU”) applies to you as long as you are an entrepreneur (according to § 14 of the German Civil Code (BGB)) using the services of the CrossLend Platform as an Investor. An entrepreneur means a natural or legal person or a partnership with legal personality that, when entering into a legal transaction, exercises its trade, business or profession.
In case you are a consumer (§ 13 German Civil Code) and wish to use the CrossLend Platform as an Investor or Borrower, please refer to the following relevant terms and conditions: https://uk.crosslend.com/cl/terms-of-use/

1. General
1.1 The use of the CrossLend Platform shall only be admissible on the basis of the CrossLend ToU.
1.2 The use of the CrossLend Platform by the Users is free of charge. No entitlement for the use of the CrossLend Platform and the services of CrossLend shall exist.
1.3 CrossLend reserves the right to amend the CrossLend ToU. Such amendments shall be considered accepted by the User if no objection thereto is made in writing to CrossLend within one month as from the User’s receipt of the amendment notification. CrossLend will specifically point out this consequence in the amendment notification.

2. Services for potential and active investors
2.1 The CrossLend Platform offers potential and active investors a technical platform for the selection and subscription of securities as well as for the access to information and notifications regarding their cash and securities account. The CrossLend Platform particularly enables potential and active investors to get an overview of the potential securities for subscription and of the status of their subscribed securities.
2.2 CrossLend collects, processes and uses information about the respective potential or active investor and/or of the Investor’s representatives for the performance of the services of the CrossLend Platform and keeps this information throughout the contractual term of the CrossLend ToU. For these purposes, CrossLend collects basic data and subscription application data of the User. For purposes of allowing the subscription of securities and, if applicable, the access to the cash and securities account, CrossLend will on behalf of the Users, within the scope of the technical services of the CrossLend Platform and throughout the contractual term,
2.2.1 Transfer application data for the opening of the cash and custody accounts to the bank in charge of the accounts;
2.2.2 Transfer data regarding the subscription application to the bank in charge of the cash and custody accounts, the placement agent of potential and active issuers, and to their tied agents;
2.2.3 Collect information and notifications regarding the User’s cash and custody accounts from the credit institution in charge of these accounts.
2.3 The securities offered to the investors are issued by CrossLend Securities SA (Luxembourg) and are placed on the CrossLend Platform by CrossLend on behalf and under the full responsibility of a credit institution. The subscription of the securities by the investors is part of a separate subscription agreement between the investor and the issuer CrossLend Securities SA, placed by a credit institution. The CrossLend Platform solely serves as an electronic means of communication between the investor, the issuer and the credit institution. CrossLend does not perform any investment advisory services. In particular, no investment recommendations are made nor tax or legal advice is provided.

3. Registration and contractual terms for the use of the website
3.1 The registration as User is required to use the CrossLend Platform to its full extent.
3.2 The registration requires all requested data to be provided completely and truthfully. Moreover, the User is required to keep his registration data updated at all times.
3.3 With the successful registration of the User with the CrossLend Platform or otherwise with creation of a first personal password for access to the CrossLend Platform, a contract for the use of the website becomes effective on the sole basis of the CrossLend ToU.
3.4 Upon a successful registration, CrossLend will send a confirmation email to the User. By clicking on the link therein provided and creating the first personal password, the User’s CrossLend account will be activated. The User’s email address for the communication between CrossLend and the User is thereby also confirmed. Users are hereby expressly informed that, in principle, the possibility of unauthorised third parties being able to view, read, manipulate or delete electronically transmitted data cannot be excluded. Accordingly, CrossLend undertakes no liability for the security of the data to be so transmitted. Under their CrossLend account, Users may access and change their information and have access to information on the status of their subscribed securities.

4. General duties of the Users
4.1 The CrossLend account shall only be used by a registered User.
4.2 The User is obliged to keep the password(s) of his CrossLend account secret and to carefully safeguard the access to his CrossLend account (confidentiality obligation). The User will ensure that no unauthorized third party gains knowledge of his password(s). To prevent misuses, passwords should not be stored electronically nor be otherwise put in writing. The User shall immediately change the respective password if unauthorized third parties become aware of it. The User is obliged to change the respective password immediately, should he suspect that unauthorized third parties have gained unauthorized access to it. The User is hereby recommended to regularly change his password(s) for security reasons.
Users shall be liable for damages resulting from breaches of their confidentiality obligation both, vis- à-vis CrossLend and other Users of the CrossLend Platform.
4.3 The User is obliged to immediately inform CrossLend of any evidence of misuse of his account by third parties.
4.4 It is prohibited for the User to use the CrossLend Platform in an unlawful manner, in violation of the contract or in any other abusive way, such as impairing or disturbing the functionality of the CrossLend Platform (e.g. by violating the system integrity), transferring the CrossLend account to third parties or providing access to the CrossLend account to unauthorised third parties.
4.5 With respect to the access credentials, security settings and legitimation instruments that are provided to an investor by the credit institution in charge of the cash and securities account, the investor hereby also commits towards CrossLend to comply with the duties of care and further conditions that are stipulated in the terms and conditions of the cash and securities account of the credit institution. Furthermore, he also commits towards CrossLend to:

  • only use the means of communication that are permissible according to the terms and conditions of the credit institution;
  • comply with the confidentiality obligations pursuant to the terms and conditions of the credit institution, in particular not to share the access credentials, security settings and legitimation instruments with third parties;
  • immediately inform the credit institution if the investor has reasons to believe that his account has been used without authorisation;
  • immediately report any theft or misuse of access credentials to the police;
  • comply with the requirements for the security and use of the access credentials used by the investor, which are stipulated in the terms and conditions of the credit institution.

Any claims and objections arising under the contractual relationship with the credit institution in charge of the cash and securities account shall only be made against that credit institution.

5. Availability
To the extent it is technically feasible and commercially reasonable, CrossLend undertakes to offer an unrestricted availability of the CrossLend Platform. However, CrossLend does not guarantee the latter. In particular, maintenance works, security and capacity reasons, technical circumstances as well as events outside of CrossLend’s sphere of control may lead to temporary inaccessibility to the CrossLend Platform.

6. Hotline
CrossLend offers the User a customer support. This includes support by telephone regarding general questions about the services of CrossLend (8 am to 10 pm CET, Monday through Friday, and 9 am to 6 pm CET on Saturdays, except for public holidays). In addition to the hotline, the User will have access to an online service centre on the CrossLend Platform, which should be primarily used by the User.

7. Intellectual property and allowed use of the website
7.1 The data and material, including pictures, graphics, illustrations, designs, symbols, photos, texts and other images (hereinafter referred to as “Content”) on the CrossLend Platform are protected by copyright law, trademark law, data protection law and/or other laws of intellectual property. Any use and/or copy of the Content without the prior written consent of CrossLend constitutes a violation of the CrossLend ToU and is prohibited.
7.2 The use of automated systems or software for the extraction of data from the CrossLend Platform, in particular for commercial purposes, is prohibited.

8. Data protection
CrossLend shall process Users’ data as required for the performance of its services under these terms of use, or provided that the User has granted his consent or a legal permission applies. Information about the scope of the collection, processing and use of personal data by CrossLend can be found in CrossLend’s Privacy Policy, which may be retrieved and printed at all times from www.crosslend.com. The User may at any time opt out from the processing and use of his personal data for advertising purposes.

9. Contractual term and termination of the CrossLend ToU
9.1 Unless terminated, the CrossLend ToU shall remain in full force and effect for an undetermined term.
9.2 Both the User and CrossLend may terminate this contract at any time by serving a written notice of termination (e.g. via email, fax or letter) to the other party with 2 weeks prior to the end of the month. Termination is precluded prior to the settlement of any ongoing investment.
9.3 The right of termination with cause remains unaffected.

10. Liability
10.1 CrossLend shall be liable for damages resulting from willful misconduct or gross negligence, death or personal injury caused by CrossLend’s negligence, or fraud or fraudulent misrepresentation.
10.2 Subject to clause 11.1, CrossLend will not be liable whether based on a claim in contract, tort (including negligence), breach of statutory duty or otherwise arising out of or in relation to this Agreement for any loss of profits, loss of business, loss of revenue, anticipated savings, goodwill or any indirect or consequential damages even if foreseeable and if CrossLend has been advised of the possibility of such losses.
10.3 Subject to clause 11.1, CrossLend shall not be liable for damages resulting from events outside of CrossLend’s control including where such damages could not have been prevented by mitigation by or on CrossLend’s behalf.
10.4 Subject to clause 11.1, CrossLend shall not be liable for any failures or disturbances in the technical infrastructure of the CrossLend Platform that are outside its control.
10.5 CrossLend does not have control over the information and services provided by third parties. CrossLend shall not be liable for any information or acts of third parties and shall not be liable for any damages resulting therefrom.

11. Closing provisions
11.1 Place of performance of the services is the place of business of CrossLend. 11.2 German law shall apply.
11.3 Insofar as the User is a merchant, the competent court is Berlin.
11.4 Should individual or several provisions of the conditions hereof be or become invalid in whole or in part, the validity of the remaining provisions shall not be affected. The Parties undertake to agree on an effective substitute provision as close as possible to the ineffective provision or the intended purpose of the ineffective provision. The same shall apply to gaps in the contract.
11.5 These CrossLend ToU have been originally drafted in the German language. The original version can be retrieved here. In the event of discrepancies between this English translation, provided for the purposes of convenience only, and the original German version, the original German version shall prevail.

Privacy Policy

The CrossLend GmbH (“CrossLend”) Privacy Policy provides an overview of the kind of user data being collected, the manner in which this data is used or transmitted and the way in which you may obtain information about the data provided to CrossLend.
Maintaining the privacy of your data is a top priority at CrossLend. CrossLend considers it essential to establish high standards of data privacy protection for all users of the CrossLend Platform and to continually improve these standards. We therefore adhere and comply with the applicable statutory requirements of the Federal Republic of Germany and the European Union in all data processing procedures. One of our main concerns in this regard, is allowing you to determine to what extent CrossLend processes your data and to decide the way in which you will share your personal data with us.

1. Responsible Entity
The entity responsible for the collection, processing and use of your personal data is CrossLend GmbH, located in Berlin, Germany. If you wish to partially or fully opt-out of the collection, processing or use of your data pursuant to this Privacy Policy, you may send an opt-out notice by letter or email to the following postal or email address, respectively:
CrossLend GmbH Kemperplatz 1
10785 Berlin privacy@crosslend.uk

2. Collection, Processing and Use of Personal Data
In order to provide you with our services, it is necessary for us to collect, process and use your personal data as specified below.

2.1 Personal data
Personal data shall mean any information concerning the personal or material circumstances of an identified or identifiable natural person. This includes, in particular, information which can be traced back to your identity, such as your name, telephone number, mailing address or email address. Statistical data collected when users visit our website and which cannot be directly linked to your identity is, for instance, not considered/classified as personal data.

2.2 Collection, Processing and Use of your Personal Data
Maintaining the privacy of your data is one of our top priorities. Therefore, we strictly adhere to the statutory provisions when collecting, processing and using your personal data. We collect, store and process your data to offer you a better user experience on our website, to provide you with the technical services that, among others, enable investments in Notes and, if applicable, to comply with our rights and obligations as Trustee. We may additionally use your data for the purpose of keeping you informed via engaging, relevant newsletters which you may opt to receive, for our own marketing purposes, and for fraud prevention. We also collect, process and use your personal data for purposes of verifying your identity.

2.2.1. Registration via CrossLend’s Platform
If you visit our website (the “CrossLend Platform”) without registering, we will only collect the information necessary to display the website you have requested. To access the CrossLend Platform as a registered user, you will be asked to provide the following information:

  • Name of the company
  • First name and last name of the respective authorized person to represent the company
  • Email address of the respective authorized person to represent the company
    This personal data is stored in order to set up your user account and enable you to gain access to the CrossLend Platform. You agree to treat your log in information as confidential and not to share this information with unauthorised third parties. You may alter your log in details at any time in your user profile.

2.2.2 Potential and Active Investments
We collect, process and use your personal data throughout the contractual term of the terms of use of the CrossLend Platform and/or of the trust agreement, if applicable, for purposes of providing the technical services of the CrossLend Platform in relation to the selection and subscription of securities and, if applicable, for enabling the access to information and notifications regarding your cash and custody accounts at the credit institution in charge of these accounts and/or for complying with our rights and obligations as trustee. The CrossLend Platform particularly enables potential and active investors to get an overview of the potential securities for subscription and of the status and performance of their subscribed securities.
For these purposes, CrossLend collects basic data and subscription application data about you. For the purposes of allowing the subscription of securities and access to the cash and securities account, CrossLend will, on your behalf, within the scope of the technical services of the CrossLend Platform and, if applicable, the trust agreement:

  • Transfer application data for the opening of the cash and custody accounts to the bank in charge of the accounts;
  • Transfer data regarding the subscription application to the bank in charge of the cash and custody accounts (which will also transfer data related to the account and your subscriptions to the bank in charge of the custody of assets underlying your subscribed securities) to the placement agent of potential and active issuers; and to their tied agents;
  • Collect information and notifications regarding the cash and custody accounts from the credit institution in charge of these accounts.

2.2.3 Identity verification
Obliged entities under German Anti Money Laundering legislation (e.g. credit institutions) and under comparable national regulations are required to obtain information about the identity and address of their customers. This process contributes to prevent the misuse of their services for unlawful activities such as identity theft, identity fraud or money laundering. Verifying the identity of a customer (or “knowing your customer” –“KYC”) is a legal requirement and an essential aspect of risk management practices.
Part of the process of an investor’s identity verification is performed by CrossLend on behalf of the credit entity providing the cash and security accounts to investors and/or the trust account to be managed by the trustee. CrossLend uses a video transmission system which enables simultaneous verbal contact between a Crosslend’s trained operator and the person whose identity is being identified. This procedure has been considered by the German Federal Ministry of Finance as establishing “personal presence” for purposes of verifying identities, thereby overcoming the higher risk presented by the nonphysical presence of such person being verified. Still, other identity verification methods may also be used. The information regarding the verification of the bank account will also be used as part of your identity verification process, if so required by applicable law.
To protect your privacy, the video session will not start until you have expressly agreed to its recording. If you consent to the recording, you will start a video session with a CrossLend’s trained operator that will guide you through the identity verification process.
The process requires the collection of your personal data and biometric information, including screenshots of your face and identity document (front and reverse), and the comparison thereof with the information previously provided by you.
After finalizing the video session, CrossLend creates a report evidencing the results thereof. Both the report, the data collected during the video session and the audio recording of the video session will be transmitted to the referred credit institution.
Please bear in mind that the verification process requires the recording of the video session. Accordingly, the images in front of your video recording device and the sounds in range of your audio recording device will be recorded. Please make sure that no unwanted images or sounds are recorded and that no persons except for yourself appear in front of the recording devices.
To complete the identity verification process, you will also be required to electronically enter a valid sequence of numbers (TAN) previously sent to you either by SMS or email to the respective mobile phone number or email address provided by you.

2.2.4 Use of your Data for Marketing Purposes
In addition to processing your data to enable registration or to process an investment, we will use your data to send you information via email, SMS or letter about products, services and marketing campaigns that may be of interest to you. You may partially or fully opt out of the use of your personal data for marketing purposes at any time without incurring any costs other than the transmission costs at standard rates. Sending a written message to our postal or email address, indicated in section 1 above, is sufficient for this purpose.

2.2.5 Newsletters
You may register for our newsletter, regardless of whether you register as a user of the Platform or not. We use MailChimp, an email service provided by MailChimp, 512 Means Street, Suite 404, Atlanta, GA 30318, USA, to deliver our newsletter. We gather statistics on email openings and clicks, using industry-standard technologies – for example web beacons – to help us monitor and make our newsletter more interesting for our subscribers. You can unsubscribe from our newsletter by clicking on the unsubscribe link provided at the end of the newsletter. You can also send written messages to our postal or email address, indicated in section 1, to update your email address or to unsubscribe from the newsletter. For more information about MailChimp please visit: http://mailchimp.com/legal/privacy/.

2.2.6 Notifications
In order to complete your registration as user of the Platform and keep you updated with the status of your investment, we will communicate with you via email, SMS or letter, using the addresses and phone number provided. Users are hereby expressly informed that, in principle, the possibility of unauthorised third parties being able to view, read, manipulate and/or delete electronically transmitted data cannot be excluded.

2.2.7 Market and Opinion Research
To improve our services, we will also use your data for general market and opinion research. We will, of course, use your data only for statistical purposes and in an anonymised form. Your responses to survey questions will not be published or disclosed to third parties without your consent. We will not store your responses to our surveys in combination with your email address or other personal data.
You may partially or fully opt out of your data being used for market and opinion research at any time by sending a written message to our postal address or email address, indicated in section 1 above. All survey emails automatically include a link to unsubscribe from further mailings.

3. Use of Cookies
You are not required to accept the use of cookies to visit our website. However, please note that you may not be able to use certain site features if you disable the use of CrossLend’s cookies.

3.1 General Information about Cookies
Cookies are small text files stored in your computer, cell phone or other device the first time you visit CrossLend’s website. They help us to recognise you as a user the next time you visit our website using the same device and web browser. We use cookies, for example, to analyse the number of users and their frequency of visits, as well as to present our services to you in the most convenient, efficient and interesting manner, thus continually improving the quality of our service, while tailoring the platform to your individual requirements.

3.2 Cookies used by CrossLend
Most cookies used by us are automatically deleted from your hard drive once you end your browser session (hence session cookies). Once you log in to the site using your user name and password, CrossLend uses session cookies, which allow us to identify you on the website. Session cookies automatically expire at the end of your session.
Additionally, we use cookies that remain on your hard drive with a lifespan of one day to two years. These ensure that on your subsequent visits CrossLend automatically recognises that you have visited the website in the past and recalls stored information and preferred settings. Thus, cookies enable us to offer a better and safer user experience. These temporary (or permanent) cookies are deleted automatically after the time specified.

3.3 What Data is stored in Cookies?
No personal data is stored in the cookies used. Therefore, the cookies used by us cannot be traced back to any specific person and, accordingly, cannot be linked to you. Cookies are assigned unique identifiers when they are activated. It is impossible to link your personal data to these identifiers, and this is never done. Your name, IP address and similar data by which a cookie could be linked to you are not stored. Cookies provide us with merely anonymised and pseudonymised information, on topics such as which sites you have visited.

3.4 How can you prevent the Receipt of Cookies?
You can change your browser settings to prevent cookies from being accepted, unless you have approved them. In most cases, the help function in the menu bar of your web browser will explain how to reject new cookies and how to disable cookies you have already received.
We recommend always logging out fully after you have used a computer which has multiple users and is set up to accept cookies.

3.5 Interest-based Advertising
In order to provide you with interesting and customised offers, this website uses interest- based online advertising. For this purpose, we use so-called retargeting technology that is based on cookies. This allows us to address visitors to our platform who showed interest in our products on websites of our partners. We will only collect anonymised and pseudonymised data and will not merge usage profiles with personal data. In the event that you should not wish to receive interest-based advertising, you may prevent this by selecting the respective settings under the hyperlink http://preferences-mgr.truste.com/
This site offers an opt-out mechanism for internet-based advertising in a bundled way. The website of TRUSTe, Inc, 835 Market Street, San Francisco, CA 94103-1905, USA (“TRUSTe”) allows you to either deactivate all advertisements across-the-board, or alternatively, block individual advertisement providers. Please note that after deletion of all of your browser’s cookies or usage of another browser at a later stage, the opt-out cookie must be reset.
For more information about interest-based advertising and opt-out options, please visit www.truste.com/consumer-privacy/about-oba/.

3.6 Google Analytics
We use Google Analytics, a web analytics service provided by Google, Inc., 1600 Amphitheatre Parkway, Mountain View, CA 94043, USA (“Google”). Google Analytics uses cookies to help us analyse how users interact with our website. The information generated by cookies about your interaction with the website (including your IP address) will be transmitted to and stored by Google on servers in the United States of America. To ensure anonymised collection of your IP address, we expanded Google Analytics with the Code “gat._anonymizeIp();” (so-called IP masking). Accordingly, Google will abbreviate your IP address if you are located in a Member State of the European Union or in another state party to the Agreement on the European Economic Area, in order to guarantee that your IP address will only be collected in this shortened way to prevent conclusions about your identity. Only in exceptional cases will your full IP address be transmitted to a server in the USA and abbreviated there. We have entered into a data processing agreement with Google that comprises the EU model clauses for purposes of maintaining the level of protection of your data according to EU standards.
Google will use the gathered information for the purpose of evaluating your use of the website and compiling reports on website activity. The IP address transmitted by your browser will not be combined with other data held by Google. Google may only transfer this information to third parties, where required to do so by law, or where such third parties process the information on Google’s behalf. Google will not associate your data with any other data held by Google.
By using this website, you consent to the processing of data by Google in the manner and for the purposes described above. You can prevent the use of cookies by selecting the respective preferences in your browser; however, please note that if you do so, you may not be able to utilise the full functionality of our website. Additionally, you may prevent the collection of your personal data (including your IP address) by downloading and installing the following browser-plugin: https://tools.google.com/dlpage/gaoptout?hl
For more information about Google Analytics please visit: https://support.google.com/analytics/answer/6004245?hl

3.7 Piwik
We use Piwik, an open-source web analytics service published under the GNU General Public License available under http://piwik.org/ (“Piwik”). Piwik uses cookies to help us analyse how users interact with our website. Piwik will collect and transmit your abbreviated IP-address using cookie technology. The abbreviation of your IP-address prevents your identification while browsing our website. The usage data transmitted to us will be validated exclusively by us and will not be transmitted to third parties. The purpose of the validation is to optimise and further develop our website.
By using this website, you consent to the processing of data by Piwik in the manner and for the purposes described above. You can prevent the use of cookies by selecting the respective preferences in your browser; however, please note that if you do so, you may not be able to utilise the full functionality of our website. Additionally, you may prevent the collection of your personal data (including your IP address) by activating the following checkbox.
Please note that the subsequently created opt-out cookie will be deleted if you delete your browser’s cookies and will not automatically be activated on other browsers or devices.
For more information about Piwik, please visit: http://piwik.org/privacy/

4. Log Files
Each time you visit the Platform, your web browser sends us information, which is then stored in server log files. The stored files contain the following information:

  • Date and time of access
  • Name of accessed web page
  • IP address
  • Referrer URL (the site you visited before navigating to the CrossLend site)
  • Bytes transferred
  • Product and version information relating to the browser (user agent)
  • Response status code
    We will analyse such log files data in anonymised form, in order to continually improve our services and make them more user-friendly, to identify and correct errors more quickly and to manage server capacity. We will analyse such log files in an unanonymised form only to prevent fraudulent use of our platform.

5. Security
CrossLend has taken numerous security precautions to reasonably and adequately protect your personal data. Physical, technical and procedural protections are in place to secure our databases and restrict access to the information only to authorised persons complying with this Privacy Policy. Sensitive data is sent to CrossLend exclusively using encrypted transmission (SSL/TLS technology). CrossLend performs regular security checks on its system to shore up potential weak spots and ward off attacks.
You should never share your passwords with unauthorised third parties and you should change them regularly. Every time you leave the Platform, you should log out of your session and close your browser window to prevent unauthorised users from accessing to your CrossLend user account.

6. Right of Access to Information
As set forth in the German Federal Data Protection Act (Bundesdatenschutzgesetz, “BDSG”), you are entitled to receive information about your stored data free of charge, as well as to rectify, block and delete your data.
CrossLend takes your data privacy very seriously. If you would like more information about your stored data or additional information about this Privacy Policy, please send an email or letter clearly identifying yourself to the following postal or email address, respectively:
CrossLend GmbH Kemperplatz 1
10785 Berlin privacy@crosslend.uk

7. Accessing the Privacy Policy
You may access and print this Privacy Policy from any of CrossLend’s websites. You may print or download this document by using your browser’s standard features (in most cases: File/Save as). To open this PDF file, you will need Adobe Reader (www.adobe.com) or a similar program designed to open PDF files.