Terms and Conditions
Last Main Update: 25th March 2023
Table of Contents:
1. Welcome to SAFAGHAT.
2. How to Create an Account?
3. Appointment of Investments Agent.
4. Agency Fees.
5. Payments of Investments
6. General Investments Warning.
7. Prohibited Uses.
8. Permitted Uses.
9. Method of Operation of the Projects.
10. Matters beyond our Responsibility.
11. Difficulties Confronting the System.
12. Accuracy of Information.
13. Confidentiality of Information.
14. Fees.
15. Relevant Sites.
16. Intellectual Property Rights of SAFAGHAT.
17. Page Security Rules.
18. Reporting on Breaches.
19. Control.
20. Account Stoppage, Cancellation, and Deletion Policy.
21. Our Rights.
22. Waiver of Liability.
23. Limitation of Liability.
24. Settlement of Disputes and Governing Law.
1. Welcome to SAFAGHAT
This page explains our Terms and Conditions of use that are enforceable between the two parties:
- First Party: The User or the Investor (Client)
- Second Party: SAFAGHAT W.L.L Company (Agent)
Once you use SAFAGHAT, you agree to comply with all Terms and Conditions of use mentioned below ("Terms and Conditions"). SAFAGHAT W.L.L ("Site") may amend or change these terms and conditions at any time as it deems appropriate. The user of this platform ("User or Investor") shall abide by such amendments or changes whether it has reviewed these amendments or not. In case the user disapproves of these terms and conditions, he/she shall not use this site entirely.
By using this platform ("Site") and services ("Services" along with the site) provided by SAFAGHAT (SAFAGHAT W.L.L), parent company, affiliated companies, subsidiaries, agents, representatives, consultants, employees, officials, and directors – (Collectively referred to as "SAFAGHAT" or "We"), you agree on these legally binding rules ("Terms"). In addition, you agree to our policies or privacy and cookies together with following any other rules on the site such as community guidelines and rules to start investing in projects.
We may change these terms from time to time. In case of doing so, we will inform you of any material changes, whether by notifying you on the site or via email. Moreover, you will be notified of the determined date for enforcing these changes. In case you continue using SAFAGHAT software after making such changes, it means that you have accepted the new terms.
2. How to Create an Account?
You must be 18 years old or older in order to sign up and obtain a SAFAGHAT account. You will be responsible for your account and all activities thereon.
You can browse the electronic platforms of SAFAGHAT without any need to create an account for participating in investing in SAFAGHAT, and you must sign up and choose a user name and set a password for signing up. On signing up with us, all information provided to us shall be accurate and complete. You shall not impersonate anyone else, choose offensive names, or infringe the rights of others. In case of failing to follow such rules, we will cancel your account.
You will be responsible for all activities made on your account, and you shall maintain the confidentiality of your password. In case you find that anyone has used your account without your permission, you have to report this matter via this address: support@safaghat.com
3. Appointment of Investments Agent
The (user or investor) agreed to authorize and appoint a company (SAFAGHAT) to invest investment funds on his/her behalf in accordance with the terms and conditions of this agreement. SAFAGHAT Company to act as an agent (whether directly or through its authorized agents/managers) to invest the funds on behalf of investors in accordance with the principles of Islamic Sharia and the terms of this agreement.
4. Agency Fees
SAFAGHAT company is entitled to an agency fee up to 2% per month of the invested amount for each executed deal.
5. Payments of Investments
I. The (user or investor) must pay the invested capital via bank wire transfers to the account of (SAFAGHAT) that will be displayed on the platform, or through any means specified by (SAFAGHAT), no later than the date of activating his/her account, unless otherwise in accordance to the instructions of (SAFAGHAT).
II. There might be individuals related to employees and/or board members of the company that are investing in the various projects. SAFAGHAT shall give all investors an equal chance to participate in its deals and no one would enjoy any preferential and/or privileged access to deals.
III. The reviews for the crowdfunding offers on this site do not need to be done by the Central Bank of Bahrain (CBB).
IV. Have the right to withdraw their commitments within 5 days of depositing the investment amounts without any penalties. However, after the 5th day, the investor has no right to withdraw his committed amounts.
V. For any reason, if any particular deal didn’t reach at least %80 of the targeted amount, only the amounts invested by the investors in such deal shall be returned back to their bank accounts within 7 business days.
VI. SAFAGHAT is not allowing “over-subscription” of any deals unless otherwise stated in the deal.
VII. For any complaints, disputes, or suggestions, please use our chat service on the platform or email us at: support@safaghat.com
6. General Investments Warning:
The (user or investor) acknowledges that he/she is aware of the risks involved in investment operations and that losses may occur sometimes despite taking all necessary precautions, and that (SAFAGHAT) will not be responsible for any losses resulting from investing funds in the correct ways unless it proves its infringement or negligence, and in the event of proving the infringement or shortcoming, (SAFAGHAT) will compensate (the user or investor) by refunding the invested capital. SAFAGHAT advises you with the following:
I. You may lose partially or fully your investment amounts in situations where SAFAGHAT can't do more than the taken measures to protect its investors and their funds/profits.
II. Do not invest money that you are not willing to lose.
III. Do not invest all your money and/or savings.
7. Prohibited Uses:
· Modify, publish, transfer, distribute, display, perform, or participate in transferring, selling, creating secondary or derivative works based on the site, or exploiting the materials that existed on the site and are protected by intellectual property rights, whether in whole or in part, without our prior consent in writing of SAFAGHAT or its affiliated business group (except as expressly provided in these Terms and Conditions).
· Use this site by foreign companies located outside of the Kingdom of Bahrain. The user/Investor shall be fully and personally responsible for any obligations pursuant to the provisions of Law applicable in its State.
· Rent, sell, assign, transfer, distribute or participate in using or granting any rights provided under the service or any materials, papers, and documents available on this site to any third party.
· Use any information received from this site and the contact information of the investors for any reason other than those outlined in Article (Purposes of Use) of these terms and conditions.
· Carry out a sale or attempt to sell or organize a marketing attempt with investors other than the communication related to the investment in the company that the investor initially envisioned, or communicate with investors for any reasons other than those stated in these Terms and Conditions.
· Communicate with investors, projects, or entrepreneurs for marketing other sites providing services competitive to SAFAGHAT.
· Prohibited uses mentioned herein shall give rise to the following: seize the project and the project support account as well as non-refundability of fees paid thereon. SAFAGHAT may take any additional legal action to restore the intellectual property rights lost due to this matter.
· Below are the matters to be avoided at all on using the site:
a. Lack of accuracy in providing information, breach of laws, ill-treatment of persons, theft of data, and hacking into the computers of others.
b. Avoid any breach of the provisions of Law: Avoid taking any action that may breach or violate the rights of others, provisions of Law, or any contract or legal obligation towards any person.
c. Don't lie to people: Don't spread false, misleading, or inaccurate information together with avoiding making any deceptive or fraudulent matters.
d. Don't send random emails: Don't publish any undesired or unauthorized advertising or promotional materials or any unimportant or random emails or chain letters. You shall not turn on automatic mailing lists, services list, any type of auto-attendant, or random mailing on the site or through it.
e. (Don't cause any damage to the computers of others: Avoid distribution of software viruses or anything else (code, films or software) which are developed for affecting the safety or accuracy of missions made through any software, device, or equipment on the site (whether it belongs to SAFAGHAT or a third party).
f. Don't breach the personal information of other users.
g. We want to ensure that the site is safe and our systems work properly. Therefore, you shall not make any of these things that may be summed up in "Don't mess with our system".
h. Do not attempt to interfere with the proper functioning of the services.
i. Do not skip any measures taken to secure the services.
j. Do not attempt to damage or illegally access to any system, data, password, or any other information, whether it belongs to SAFAGHAT or others.
k. Do not take any action that imposes an unreasonable burden on our infrastructure or on third-party service providers (we reserve the right to determine what is reasonable).
l. Don't use any software or device (whether manual or automatic) crawling or coming forward via the web to any part of the site.
m. Don't disassemble or reverse-engineer any aspect of SAFAGHAT in an attempt to access to anything such as source code, underlying ideas or algorithms.
8. Permitted Uses:
Unless otherwise stated, the user/investor shall be granted a non-exclusive and non-transferable right to access, use and view this site and all information provided by the site to the user for his personal or commercial use. In case of downloading any content from the site, it does not entail granting the right of ownership of that content in any way, and it does not give the right to modify that content or use it for any other uses than those provided for. The property rights of the content remain with SAFAGHAT or its licensors. SAFAGHAT reserves all rights not expressly granted to the user. The rights to use SAFAGHAT's proprietary material are granted under copyright for purposes other than those provided for in these Terms and Conditions, on a case-by-case basis.
9. Method of Operation of the Projects:
Since SAFAGHAT is a financing platform for investment projects and offers, through its platform, investment projects on the Internet, thus it provides the opportunity for the "User" to invest in it and obtain the profits shown on each investment, which states the profit percentage in advance.
Most of our terms of use explain your relationship with SAFAGHAT. This part is different and it explains the relationship between SAFAGHAT and investors in SAFAGHAT projects as well as the nature of the tasks and obligations of each party. It is what you agree to when you invest in a SAFAGHAT investment project.
SAFAGHAT provides a financing platform for investment projects. On offering an investment project through its electronic platform (SAFAGHAT), it calls other persons for making a contract with them. Any person investing in an investment project shall accept the offer provided by SAFAGHAT and agree on making and entering into the contract.
On financing an investment project successfully, the site shall fulfill its obligations in terms of payment of the capital of "Investor" together with adding the agreed-upon profit percentage. On doing so by the site, it shall be free of any obligation towards "Investor".
During this process, the site pledges to its investors to ensure a high level of effort, honest communication, and dedication to revive the project. At the same time, investors shall understand that there may be changes or delays, and that there is a chance for occurring anything that may prevent SAFAGHAT from completing the investment project as promised. In case of the presence of the same, SAFAGHAT will ensure that the investor is compensated according to the terms of the project (for example, return of capital to investors in case it has proven its infringement or negligence, and return of capital if the investment opportunity has not started).
10. Matters beyond our Responsibility:
SAFAGHAT shall not be responsible for any damage related to your use of the services of the site for any purpose other than the intended one. We don't interfere with any disputes between users themselves or between users and third-party regarding misuse of services or unauthorized matters.
The performance of projects is supervised in a way that guarantees the rights of the "Investor/User", but with regard to compliance with the deadlines set for projects, it shall be based on the condition of each project. We do not fully comply with the specified date. You shall exempt SAFAGHAT from dues, damage, and claims of all kinds, whether known or unknown, suspected or unsuspected, disclosed or undisclosed, arising out of or in any way related to these disputes and the services, particularly in cases of force majeure.
We don't follow up on the internal details of projects with our partners, but we strictly confirm that the rights of investors are maintained in the projects offered by the partners.
11. Difficulties Confronting the System:
SAFAGHAT uses internal development systems for its services. Such systems may confront technological difficulties or any other difficulties. In addition, the systems of computers and communication may experience some interruptions. Therefore, SAFAGHAT is constantly enhancing and developing these systems to the extent that it keeps pace with the level of use of SAFAGHAT platform. Moreover, SAFAGHAT may add additional features and functions to its services, which may lead to the need to develop or license other additional technologies. The increased use of SAFAGHAT service may result in an increase in the volume of transactions through special processing systems or the provision of new services, features or functions that cause unexpected disruptions in the system, slow response, deterioration in the level of customer service and delay in reporting accurate financial information.
12. Accuracy of Information:
In the event that the user/investor registers for this service, it undertakes that all the information and data provided to the site or service are true, accurate, up-to-date and complete. It shall undertake to maintain and update this information to maintain its validity, accuracy and completeness during the use of SAFAGHAT. In case the user/investor provides the Site and SAFAGHAT with incorrect, inaccurate, outdated or incomplete information, or SAFAGHAT deems for reasonable grounds that the information is incorrect, inaccurate, outdated or incomplete, SAFAGHAT is entitled to stop, suspend or cancel the User/Investor account. In addition, it may reject all uses or part thereof, which are made by the user on the site or the service, whether current or coming. SAFAGHAT shall use and protect the information and data of the user as per its policy of privacy, where these Terms and Conditions are an integral part thereof.
13. Confidentiality of Information:
All personal and commercial information as well as other information related to the project shall be strictly confidential for SAFAGHAT. Users and investors undertake to maintain the confidentiality of the information and data received from any party through the site. The investors and entrepreneurs shall not disclose, distribute or share such information in any other way with a third party. The projects shall be fully responsible for all activities made by using the user name and password. The users shall abide by the following:
i. Notify SAFAGHAT directly of any unauthorized use of the user name and password or any attempt to breach the security and the account.
ii. It shall make sure to log out each time after using the account. Accordingly, SAFAGHAT shall not be responsible for any loss or damage caused due to not complying with such Terms and Conditions.
14. Fees:
SAFAGHAT charges fees to the companies requesting funds from crowdfunding in a way that maintains your rights as well as the rights of SAFAGHAT and all investors. These fees from a deal to others are based on well-studied foundations, most significant are the term of finance and amount of finance. You as an investor shall not pay any part of these fees imposed on the borrowers of crowdfunding (Borrowing Merchant).
15. Relevant Sites:
SAFAGHAT may contain links of other pages or sites owned or operated by a third party (Relevant Sites) (For example: Pages of investment companies and cookies of users and comments in other sites). SAFAGHAT does not have any right or responsibility to control or manage the terms of use or the policies or such sites or pages. The crowdfunding does not approve the content, advertisement, product, service or material provided by these sites or pages. SAFAGHAT acknowledges that it is not directly or indirectly responsible for any loss or damage caused by the use or reliance upon these contents, advertisements, products, services or other materials provided by the relevant external sites and pages. The officials, supervisors or operators of these external pages and sites shall be contacted in case of the existence of any inquiry regarding their pages and sites on access to other websites belonging to external bodies (Third party). You shall carry out these works on your own responsibility. We 'don't control or approve these sites.
SAFAGHAT does cooperate with other companies for processing the payments; hence, you agree on the terms of payment processor service (If any).
16. Intellectual Property Rights of SAFAGHAT:
Trademark of SAFAGHAT: SAFAGHAT is an electronic platform providing finance methods by linking investors to finance applicants (SAFAGHAT). All information and standards set forth by SAFAGHAT shall be deemed as an integral part of crowdfunding. The analyses made by SAFAGHAT shall not contain any analysis of the securities and not provide any consultations or advice thereon. The purpose of SAFAGHAT and the crowdfunding is to provide information services, and it shall not offer the sale or purchase of any securities. SAFAGHAT and crowdfunding may be accessed by www.safaghat.com, and for using the service, the user shall have access to the Internet and to be provided with all materials and devices necessary for access to the Internet, such as a computer and router as well as other devices.
The content that existed on SAFAGHAT is protected in different ways. You have the right to use it for specific personal purposes, but you may not use it for any commercial use without prior consent or permission.
You agree not to change, translate or create any service-derived works.
SAFAGHAT shall be the owner of all copyrights of the content available on the site, including, but not limited to the following: (A) All papers, documents and materials relating to the service; (B) All texts, information, data, diagrams, plans, graphics, images, videos, fonts, music, sounds, and HTML code, as well as all destinations contained in the site, (C) Site designs, choices and arrangements. By submitting or sending any material containing any text, information, data, diagrams, graphic plans, graphics, images, videos, fonts, music or sounds, (for the purposes set forth in this paragraph) to SAFAGHAT, the user acknowledges the intellectual property rights granted by the system to SAFAGHAT permanently and exclusively.
The submission or transmission of any content to SAFAGHAT shall entail the following: (A) The User undertakes that it has the full right to distribute or publish the submitted content, (B) The User undertakes to indemnify SAFAGHAT for all damages in the event that someone objects to the distribution or publication of that content by the user, whether such objection works or not, (C) The User undertakes that it is fully aware that SAFAGHAT has the right to keep that information sent by it for reasons consistent with our privacy policy. In addition, the provision of the User of SAFAGHAT with these rights shall be on a permanent basis. The use of these services shall comply with the laws of the Kingdom of Bahrain. These Terms and Conditions apply to all users.
17. Page Security Rules:
No User shall breach or attempt to breach the security of this site. The acts of a breach or the attempt of breach include the following:
(A) Access to information or data not related to the user or sign up an authorized account.
(B) Any attempt to review, discover or test the strength or weakness of the system of the network as well as any breach or attempt of breach of the security of the network or authentication system without any prior consent or authorization, or any attempt to overlap with another user, host or another network.
The breach of the security of the network or the system shall give rise to criminal or civil liability. SAFAGHAT will exert all possible efforts for tracking and following up on any breach of the system or the security. The provisions of the Law shall apply to the offenders in cooperation with the courts of the offender's State.
18. Reporting on Breaches:
Users undertake to notify SAFAGHAT of any suspected act, including any access, disclosure, amendment, waste, or cause of damage to information.
19. Control:
All electronic communications and submitted content may be controlled, inspected, saved, read, copied, stored, or retransmitted during the daily operations of authorized employees and agents of SAFAGHAT while exercising their duties and tasks, or by the competent statutory authorities requested to assist SAFAGHAT in investigations into a possible breach. Electronic communications and content may be inspected via electronic inspection means. Moreover, SAFAGHAT has the full right to refuse any electronic communications or content that SAFAGHAT considers to be inconsistent with the policies and procedures.
20. Account Stoppage, Cancellation, and Deletion Policy:
In case a user of SAFAGHAT breaches these Terms and Conditions (Terms and Conditions of Use), it is entitled to, as per its absolute discretion, stop or cancel the account and the password (or any part pertaining thereto) and prevent any access to it or the site. The user agrees that such cancellation, stoppage or deletion of any information related to the account of the user may be made without any prior notice. In case of cancellation, the user agrees to damage any copy containing parts of the content available on the site. Consequently, the user agrees that SAFAGHAT is not fully responsible towards the user or third party for any suspension, cancellation, or stoppage of access to the service or the site or any deletion made by it in terms of any information related to the user's account. All provisions related to the discharge of SAFAGHAT and the compensation provided to it for the damage prescribed in the Terms and Conditions of Use shall remain in full force and effect after the expiry or termination of the relationship with the user.
You may delete your account at any time. The implementation of this matter will not remove it automatically; hence, you can delete your account at any time through the account settings. We may maintain specific information as required by Law or for the purposes of our legitimate works. All provisions of this agreement remain valid after the deletion of the account, including our rights related to any content already provided to the site. You can contact us through support@safaghat.com for more information or for the deletion of your account.
21. Our Rights:
For the protection of the validity and safety of our system and for assistance in ensuring that investors enjoy a safe and secure environment, SAFAGHAT maintains these rights:
We may make changes to the Site and services of SAFAGHAT without any prior notice or responsibility on our part.
We have the right to determine competent persons to use SAFAGHAT. In particular circumstances, we may enforce restrictions or limitations on the accounts, particularly for the considerable or repeated breaches of our terms or any other rules of the site, such as the community guidelines and rules for start investment in projects; hence, we may cancel the accounts or refuse to provide necessary services (In case it is abused). We may change our criteria of eligibility at any time. In case these matters are prohibited under the provisions of Law applicable in your State, we may cancel your right to use SAFAGHAT.
22. Waiver of Liability:
SAFAGHAT waives its liability for warranting or representing any content of the service. It includes the following:
(A) Warranties of marketing or use for specific purposes, including (investment decisions) whether SAFAGHAT is aware or has other reasons or advice has been provided to it in advance or not.
(B) Lack of warranty of any results reached or obtained through the use of the service, content, or data available on SAFAGHAT. In addition, it is not permissible in any way to interpret the content or services provided by SAFAGHAT as investment advice or opinions of SAFAGHAT on the suitability of any investment project. The content and services offered by SAFAGHAT may not be construed as a recommendation, marketing, solicitation or endorsement by SAFAGHAT of a particular offer to buy or sell securities in general. SAFAGHAT shall not be responsible for any investment decision based on or derived from the content, services or results derived or available on SAFAGHAT. The content available on SAFAGHAT is for informational purposes only, and cannot be operated or relied on alone without legal or commercial advice. The services have been collected based on previous conditions and shall not be relied upon in predicting coming conditions. only is not fully responsible for any losses related to the content or services provided on SAFAGHAT and resulting from contractual liability, liability in tort or otherwise, whether directly or indirectly, including but not limited to the following: Loss of profits or revenue, or any economic or commercial loss for any decision made based on the content and services offered on SAFAGHAT.
(C) Lack of representation or warranty that all contents of SAFAGHAT shall comply with the requirements and obligations set forth in the rules and laws, such as the rules and regulations of the Bahrain Stock Exchange or other rules and regulations.
We work hard to provide you with great services, but things beyond our control may happen. In case of presence, we will exert our effort to remedy this matter.
We are committed to providing the best quality of the Site platform service of SAFAGHAT together with ensuring the best quality, but the commitment to the deadlines of the projects may be affected in the event of any temporary defect beyond our control affecting the site. Such incidents such not taken as proof against SAFAGHAT for breaching the terms and clauses of this agreement.
23. Limitation of Liability:
SAFAGHAT shall not in any way be liable for any direct, indirect, punitive, incidental, or consequential damages (Unless proven infringement and shortcoming) resulting from the content or services on SAFAGHAT, including but not limited to the following: Damages arising out of losses in profits or revenues, damages resulting from damaged or lost data, damages resulting from viruses and other harmful software and data, damages resulting from networks and Internet pages, any damages resulting from economic or commercial losses, damages resulting from decisions taken by any party based on the service, it's content or its results, any damages resulting from delay, failure, interruption or damage to any data or information transmitted related to the use of the service, any damages resulting from inaccurate information, errors or omissions related to the content and services provided on SAFAGHAT. In all cases, the total liability of crowdfunding, its employees, agents and representatives with respect to the content and services provided on SAFAGHAT shall not exceed the amounts of sign up fees and user fees paid for using the service, whether it is a contractual liability or in tort.
SAFAGHAT, its directors, employees, partners, supplier or content providers shall not in any way be liable for any indirect, incidental, punitive, consequential, special, or exemplary damages of any kind, including but not limited to the following:
a. Damages arising out of access to or use of services, or inability to access or use it.
b. Damages resulting from any conduct of any third-party (external) content on the site.
SAFAGHAT's liability for direct damages shall not be in excess, or any other consequential damages not prescribed within the provisions and the present contract. It is not allowed to use the name or capacity of SAFAGHAT or affiliation with SAFAGHAT for any reason (including but not limited to advertisement and promotion) in any way, including those websites and social media platforms in any way without the prior and documented permission of SAFAGHAT.
24. Settlement of Disputes and Governing Law:
These Terms and Conditions shall be governed by the rules and laws of the Kingdom of Bahrain. Courts of Bahrain shall have jurisdiction to hear and review any dispute arising out of these Terms and Conditions.
We, in SAFAGHAT, encourage you to contact us in case you confront any issue prior to resorting to the courts. SAFAGHAT support team is ready to answer your questions. You can visit our Assistance Center to find articles with information that may solve your problem. If you still have questions, you can click the "Contact Us" option in the Assistance Center or send an email to support@safaghat.com so that one of our support team agents can respond to you in person and help you resolve your issue. These resources are free and easily accessible.
These Terms are personal to you. You may not assign, or transfer it unless you obtain SAFAGHAT's prior consent in writing. SAFAGHAT has the right to assign, transfer or delegate any of its rights and obligations under these Terms without your consent. SAFAGHAT will provide you with notice via email or written notice or through posting the notice on our website obviously.
END.