Dharma Fund LLC Terms of Use

 

Effective January 1, 2015

These Terms of Use (The "Terms of Use") govern use of the websites and services (the "Services") of Dharma Fund LLC, a North Carolina corporation (together with its affiliates, "Dharma Fund LLC"), in addition to any supplemental terms applicable to any particular features, content and functionality of the Services, which such supplemental terms are incorporated by reference into the Terms of Use. By using the Services, Users agree to be bound by these Terms of Use, our Privacy Policy, all applicable laws and all conditions or policies referenced here (collectively, the "Terms"). Dharma Fund LLC may amend the Terms at any time by posting a revised version of the Terms on our Services. Access to or continued use of the Services after the effective date of the revised Terms constitutes your acceptance of the revised Terms.


Definitions

In these Terms, we refer to those raising funds as "Campaign Owners" and to their fundraising campaigns as "Campaigns." We refer to those contributing funds as "Contributors" and to the funds they contribute as "Contributions." Campaign Owners, Contributors and other visitors to the Services are referred to collectively as "Users."


Dharma Fund LLC is a Venue

Dharma Fund LLC is an online crowdfunding venue for people and entities seeking to raise funds for their own Campaigns and to contribute to the Campaigns of others. Campaign Owners can offer gifts or rewards in the form of tangible items or intangible services (collectively, "Perks") to Contributors. Perks are not offered for sale. Dharma Fund LLC makes no representations about the quality, safety, morality or legality of any Campaign, Perk or Contribution or the truth or accuracy of User Content (as defined below) posted on the Services. Dharma Fund LLC does not represent that Campaign Owners will deliver Perks or that Contributions will be used as described in the Campaign. Users use the Services at their own risk.


Eligibility to Use the Services

Users under 18 years of age are not eligible to use the Services without consent. Users between the ages of 13 and 17, can use the Services with the consent and supervision of a parent or legal guardian who is at least 18 years old, provided such parent or legal guardian also agrees to be bound by the Terms and agrees to be responsible for such use of the Services. Users suspended from using the Services are not eligible to use the Services. Dharma Fund LLC reserves the right to refuse use of the Services to anyone and to reject, cancel, interrupt, remove or suspend any Campaign, Contribution, or the Services at any time for any reason without liability.


Prohibited Campaigns

Campaign Owners are not permitted to create a Campaign to raise funds for illegal activities, to cause harm to people or property, or to scam others. If the Campaign is claiming to do the impossible or it's just plain phony, don't post it. Users must comply with all applicable laws and regulations in connection with their Campaigns, including offering Perks and using Contributions. Campaign Owners shall not make any false or misleading statements in connection with their Campaigns.


Prohibited Perks

Campaign Owners are not permitted to offer or provide any of the following as a Perk:

  • any form of "security" (as such term is defined in the Securities Act of 1933);
  • any form of financial incentive or participation in any profit sharing;
  • any alcoholic consumer products (vouchers or memberships offering physical delivery of alcoholic consumer products are permitted);
  • any controlled substance or drug paraphernalia;
  • any weapons, ammunition and related accessories;
  • any form of lottery or gambling;
  • any form of air transportation; or
  • any items promoting hate, discrimination, personal injury, death, damage, or destruction to property; or any items (a) prohibited by applicable law to possess or distribute, (b) that would violate applicable law if distributed, or (c) that would result in infringement or violation of another person's rights if distributed.

Community Guidelines

Dharma Fund LLC is not a place for hatred, abuse, discrimination, disrespect, profanity, meanness, harassment, or spam. Do not:

  • use the Services to promote violence, degradation, subjugation, discrimination or hatred against individuals or groups based on race, ethnic origin, religion, disability, gender, age, veteran status, sexual orientation, or gender identity;
  • post images or videos that are sexually explicit or post links to sites that contain sexually explicit material or show people or animals being hurt or degraded;
  • spam the comments sections or other Users with offers of goods and services or inappropriate messages;
  • engage in any activity that interferes with or disrupts the proper working of the Services or any activities conducted on the Services; or
  • take any action that imposes, in Dharma Fund LLC’s sole discretion, an unreasonable load on Dharma Fund LLC’s infrastructure.

Dharma Fund LLC reserves the right to remove Campaigns and terminate User Accounts for such activities.


Disputes between Campaign Owners and Contributors

Campaign Owners are legally bound to perform on any promise and/or commitment to Contributors (including delivering any Perks). If a Campaign Owner is unable to perform on any promise and/or commitment to Contributors, the Campaign Owner will work with the Contributors to reach a mutually satisfactory resolution, which may include the issuance of a refund of Contributions by the Campaign Owner. Dharma Fund LLC is under no obligation to become involved in disputes between Campaign Owners and Contributors, or Users and any third party. In the event of any dispute, such as a Campaign Owner's alleged failure to comply with the Terms or alleged failure in fulfillment of a Perk, we may provide the Campaign Owner's contact information to the Contributor so that the two parties may resolve their dispute.


User Accounts

All information submitted in connection with a User account on the Services (each, a “User Account”) must be accurate and truthful. Users agree to notify Dharma Fund LLC immediately if their User Account has been used without authorization or there has been any other breach of security of the User Account. Each User also agrees to provide additional information Dharma Fund LLC may reasonably request and to answer truthfully and completely any questions Dharma Fund LLC might ask you in order to verify such User's identity.


License to Users

Dharma Fund LLC grants each User a limited, non-exclusive, non-transferable, revocable license to use the Services subject to such User's eligibility and continued compliance with the Terms.


Campaign Owners

Campaign Owners are permitted to offer Perks to Contributors. Campaign Owners are legally bound to perform on any promise and/or commitment to Contributors (including delivering any Perks). Campaign Owners will respond promptly and truthfully to all questions posed to them by Dharma Fund LLC or any Contributor. If any Campaign Owner is unable to fulfill any of its commitments to Contributors (including delivering any Perks), the Campaign Owner will work with the Contributors to reach a mutually satisfactory resolution, which may include refunding their Contributions. Campaign Owners will comply with all applicable laws and regulations in the use of Contributions and delivery of Perks. Campaign Owners are responsible for collecting and remitting any taxes on Contributions, and any taxes due in connection with Perks. Dharma Fund LLC may attempt to verify the identity and other information provided to us by Campaign Owners, and we may delay, withhold, reverse or refund any Contributions or other amounts without notice or liability in the event we are unable to verify any such information to our satisfaction.


Contributors

Contributors are solely responsible for asking questions and investigating Campaign Owners and Campaigns to the extent they feel is necessary before making a Contribution. All Contributions are made voluntarily and at the sole discretion and risk of the Contributor. Dharma Fund LLC does not guarantee that Contributions will be used as promised, that Campaign Owners will deliver Perks, or that the Campaign will achieve its goals. Dharma Fund LLC does not endorse, guarantee, make representations, or provide warranties for or about the quality, safety, morality or legality of any Campaign, Perk or Contribution, or the truth or accuracy of User Content posted on the Services. Contributors are solely responsible for determining how to treat their Contributions and receipt of any Perks for tax purposes. If a Contribution is returned to a Contributor, the associated Perks, if any, shall be canceled.


Service Fees

It is free to sign up on Dharma Fund, to create a campaign, and to contribute to a campaign.

At this time DF only offers a “Flexible Funding” option, were campaigns will keep the amount of money that is raised during the campaign period.

Fees

-When your campaign raises funds, Dharma Fund charges a 5% fee on the funds you raise. Dharma Fund donates 1% of the funds to the Non-Profit chosen by the campaign creator.

-Registered 501(c)(3) nonprofits receive a 25% reduction in our platform fees when running a campaign.

-3-5% for credit card or PayPal processing (varies depending on your financial institution)

-$25 wire fee: You are charged once if you run a non-US campaign and have raised funds in USD via Direct Credit Card. We charge the wire fee when funds are wired in one lump sum to your non-US bank account after the campaign has ended.
Additional currency exchange fees may also apply.

Please note:

-All fees are applied to the amount of funds raised

-All PayPal fees are approximate. The exact amount depends on your country and the amount of funds raised. For more information on PayPal fees, please visit PayPal Fees. International or cross-border transactions may be charged additional fees by PayPal for currency exchange, e.g. Transaction Fees for Cross-Border Payments. For a complete breakdown of PayPal's payment processing fees based on your account type and region, we recommend reaching out to PayPal Support directly.

-DF Fees and Pricing is Subject to Change. Changes will be listed immediately when made.


Refunds

Contributions, including the Service Fees portion thereof, are not refundable. If a Campaign Owner is unable to perform on any promise and/or commitment to Contributors (including delivering any Perks), the Campaign Owner will work with the Contributors to reach a mutually satisfactory resolution, which may include the issuance of a refund of Contributions by the Campaign Owner.


Taxes

Taxing authorities may classify funds raised on the Services as taxable income to the Campaign Owner and any beneficiary who will receive funds directly from the applicable Campaign. Dharma Fund LLC will ask for the tax identification number (TIN) of Campaign Owners and any beneficiaries so that we may report taxable income to the relevant taxing authorities. Dharma Fund LLC will provide Campaign Owners with a tax document if required by the relevant taxing authorities.


Dharma Fund LLC Life

Users may establish Campaigns on Dharma Fund LLC Life (the “Life Services”), provided that: (a) an individual person acts as the sole Campaign Owner (a "Life Campaign Owner"); and (b) such Life Campaign seeks Contributions for any cause that directly impacts the Life Campaign Owner or any other individual person (a "Life Campaign Beneficiary"), such as Contributions for medical costs, emergencies, tuition or other similar life events of the Life Campaign Owner or Life Beneficiary, as applicable. In connection with Life Campaigns established on behalf of any Life Campaign Beneficiary, each Life Campaign Owner acknowledges and understands that Dharma Fund LLC may request such additional information as reasonably necessary (as determined in the sole discretion of Dharma Fund LLC) in order to verify or confirm that the Life Campaign Owner is authorized on behalf of the applicable Life Campaign Beneficiary in connection with the applicable Life Campaign.


Partners

Users may create a "Partner Page" on Dharma Fund LLC’s website to link their brand with one or more Campaigns. If Users create a Partner Page, Users also agree to the Partner Terms.


User Content

While using the Services, Users may post photos, videos, text, graphics, logos artwork and other audio or visual materials (collectively, "User Content"). Users grant Dharma Fund LLC a perpetual, non-exclusive, royalty-free, transferable, sublicensable, worldwide license to use, publicly display, publicly perform, store, reproduce, modify, create derivative works, and distribute User Content of any User on or in connection with the Services and our related marketing and promotional activities. As between Users and Dharma Fund LLC, Users continue to hold all ownership interest in their User Content. Each User represents and warrants that its User Content and our use of such User Content will not infringe any third party's intellectual property rights, proprietary rights, privacy rights, confidentiality, rights of publicity or otherwise violate these Terms or applicable law.


Promotions

Campaign Owners may not offer any contest, competition, giveaway, sweepstakes or similar activity (each, a "Promotion") on the Services without Dharma Fund LLC’s prior written permission (which may be granted or withheld by Dharma Fund LLC in its sole and absolute discretion).


Third-Party Websites, Advertisers or Services

The Services may contain links to third-party websites, advertisers, or services that are not owned or controlled by Dharma Fund LLC. Access to or use of third-party sites or services are at each User's own risk. Except as otherwise expressly provided herein, Dharma Fund LLC is not responsible for any loss or damage of any sort relating to User dealings with these third-party sites or services. We encourage Users to be aware of when they leave the Services, and to read the terms and conditions and privacy policy of any third-party website or service that they visit.


Payment Services

If a Campaign Owner's Campaign is based in the United States and raises over $100,000 in U.S. dollars through credit card transactions, such a Campaign Owner is a "Sub-merchant" under our Merchant Services Agreement with TBD, and hereby agrees to the terms of TBD Merchant Services Agreement for Sub-merchants. Campaigner Owners that accept PayPal and Contributors that use PayPal in connection with a Campaign acknowledge and agree to comply with PayPal’s Crowdfunding and Acceptable Use Policies. In all cases, standard credit card or other third party processing fees apply in addition to any Service Fees. We are not responsible for the performance of any third party credit card processing or third party payment services.


Indemnity

Each User agrees to defend, indemnify and hold harmless Dharma Fund LLC, its subsidiaries and affiliated companies, and their officers, directors, employees, contractors and agents from and against any and all claims, causes of action, damages, obligations, losses, liabilities, costs or debt, and expenses (including attorneys' fees and costs) and all amounts paid in settlement arising from or relating to use of the Services, breach of these Terms or violation of any laws. Dharma Fund LLC may assume the exclusive defense and control of any matter for which Users have agreed to indemnify Dharma Fund LLC and each User agrees to assist and cooperate with Dharma Fund LLC in the defense or settlement of any such matters.


No Warranty

Dharma Fund LLC has no fiduciary duty to any User. THE SERVICES ARE PROVIDED ON AN "AS IS" AND "AS AVAILABLE" BASIS WITHOUT ANY WARRANTIES, EXPRESS OR IMPLIED, INCLUDING, WITHOUT LIMITATION, IMPLIED WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE, NONINFRINGEMENT OR COURSE OF PERFORMANCE. USE OF THE SERVICES IS AT USER'S OWN RISK.


Waiver and Release

For Users in a jurisdiction that requires a specific statement regarding waiver and release then the following applies. For example, California residents must, as a condition of this Agreement, waive the applicability of California Civil Code Section 1542 for unknown claims which states: "A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR DOES NOT KNOW OR SUSPECT TO EXIST IN HIS OR HER FAVOR AT THE TIME OF EXECUTING THE RELEASE, WHICH IF KNOWN BY HIM OR HER MUST HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR." Each User hereby waives this section of the California Civil Code and any similar provision in law, regulation or code that has the same effect or intent as the foregoing release.


Limitation of Liability

Dharma Fund LLC (INCLUDING ITS AFFILIATES, DIRECTORS, OFFICERS, EMPLOYEES, AGENTS, SUBCONTRACTORS OR LICENSORS) IS NOT LIABLE FOR ANY INDIRECT, PUNITIVE, INCIDENTAL, SPECIAL, CONSEQUENTIAL OR EXEMPLARY DAMAGES OR, IN ANY EVENT, FOR DAMAGES EXCEEDING THE LESSER OF ONE HUNDRED U.S. DOLLARS ($100.00) OR THE FEES PAID TO Dharma Fund LLC FOR THE TRANSACTION FROM WHICH THE CAUSE OF ACTION AROSE. THIS LIMITATION OF LIABILITY SECTION APPLIES WHETHER THE ALLEGED LIABILITY IS BASED ON CONTRACT, TORT, NEGLIGENCE, STRICT LIABILITY, OR ANY OTHER BASIS, EVEN IF Dharma Fund LLC HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGE AND TO THE FULLEST EXTENT PERMITTED BY LAW IN THE APPLICABLE JURISDICTION.

For jurisdictions that do not allow Dharma Fund LLC to limit its liability: Notwithstanding any provision of the Terms, for Users in a jurisdiction that has provisions specific to waiver or liability that conflict with the foregoing, then Dharma Fund LLC’s liability is limited to the smallest extent possible by law. Specifically, in those jurisdictions not allowed, Dharma Fund LLC does not disclaim liability for: (a) death or personal injury caused by its negligence or that of any of its officers, employees or agents; or (b) fraudulent misrepresentation or intentional misconduct; or (c) any liability which it is not lawful to exclude either now or in the future.


Assignment

The Terms, and any rights and licenses granted hereunder, may not be transferred or assigned by any User, but may be assigned by Dharma Fund LLC without restriction or consent.


Termination; Survival

Termination may result in the forfeiture and destruction of all information associated with any User Account. Users may terminate their User Account by following the instructions on the Services, but Dharma Fund LLC may retain the User Account information after termination in accordance with regulatory, accounting, and legal compliance procedures. All provisions of the Terms that by their nature should survive termination shall survive termination, including, without limitation, ownership provisions, warranty disclaimers, indemnity and limitations of liability.


Governing Law

Users agree that: (a) the Services shall be deemed solely based in California (the principal place of business and corporate headquarters of Dharma Fund LLC); and (b) the Services shall be deemed a passive one that does not give rise to personal jurisdiction over Dharma Fund LLC, either specific or general, in jurisdictions other than California. This Agreement shall be governed by the laws of the State of California, without respect to its conflict of laws principles.


Arbitration

Each User agrees that any and all disputes or claims that have arisen or may arise between such User and Dharma Fund LLC relating in any way to or arising out of this or previous versions of the Terms or your use of or access to the Services shall be resolved exclusively through final and binding arbitration, rather than in court, except that such User may assert claims in small claims court, if such User claims qualify. The Federal Arbitration Act governs the interpretation and enforcement of this agreement to arbitrate. There is no judge or jury in arbitration, and court review of an arbitration award is limited. However, an arbitrator can award on an individual basis the same damages and relief as a court (including injunctive and declaratory relief or statutory damages), and must follow the provisions of the Terms as a court would.The AAA's rules are available at www.adr.org or by calling 1-800-778-7879. Payment of all filing, administration and arbitrator fees will be governed by the AAA's rules. Dharma Fund LLC will reimburse those fees for claims totaling less than $10,000 unless the arbitrator determines the claims are frivolous. A User may choose to have the arbitration conducted by telephone, based on written submissions, or in person in the county where such User lives or at another mutually agreed location. Users agree that any dispute resolution proceedings will be conducted only on an individual basis and not in a class, consolidated or representative action. If for any reason a claim proceeds in court rather than in arbitration, such User waive any right to a jury trial. User and Dharma Fund LLC also both agree that either may bring suit in court to enjoin infringement or other misuse of intellectual property rights. If for any reason, a claim proceeds in court rather than in arbitration, the dispute shall be exclusively brought in a court of competent jurisdiction located in the City and County of Asheville, North Carolina Subject to the arbitration provisions set forth above, the successful party in any dispute will be entitled to receive from the unsuccessful party all of its reasonable attorneys’ fees, cost, and disbursements.


Disclaimers

Campaign Owners and other Users should be aware that many states impose charitable fund solicitation laws to guide direct or indirect fund solicitation activities in those states. While provisions vary state to state, these state laws typically include registration and reporting requirements. Dharma Fund LLC merely provides a technology platform to allow Campaign Owners to connect with Contributors. Users who access or use the Services do so at their own volition and are entirely responsible for compliance with applicable law.

Dharma Fund LLC makes no representations, warranties or other assertions as to the potential tax deductible status of any Contribution by a Contributor to a charitable cause or to a Campaign whose purported recipient is a recognized 501(c)(3) or other tax -advantaged organization under the Internal Revenue Code. The listing of an organization via the Services does not necessarily mean that the organization has been deemed— or remains currently deemed—a charitable or tax-advantaged organization by the Internal Revenue Service.


English Language

In the event of a conflict between these the English language version of the Terms and any foreign language translation versions thereof, the English language version of the Terms shall govern and control. All disputes, claims and causes of action (and related proceedings) will be communicated in English. Unless otherwise explicitly stated, all materials found on the Services are solely directed to individuals, companies, or other entities located in the U.S.


Export Compliance

Users agree to comply with all laws, restrictions and regulations relating to the export of products and information. For purposes of the U.S. Export Administration Act ("Export Laws"), each User states that such User is: (a) not a citizen, or otherwise located within, an embargoed nation (including without limitation the Office of Foreign Assets Control ("OFAC") comprehensively embargoed countries of Iran, Syria, Cuba, North Korea and Sudan and certain Specially Designated Nationals listed by OFAC as updated from time to time and (b) not otherwise prohibited under the Export Laws from receiving such products and information. Funds may be frozen and/or turned over to the applicable governmental enforcement agency if a Campaign is deemed to be in violation of Export Laws.


Cooperation with Authorities and Police Enforcement

We will cooperate with law enforcement authorities as required by law. We will cooperate with law enforcement agencies in any investigation of alleged illegal activity regarding the use of the Services when requested.


Notification Procedures

Users agree Dharma Fund LLC may provide notifications to such User via email, written or hard copy notice, or through conspicuous posting of such notice on our website. Users may opt out of certain means of notification or to receive certain notifications.


Unsolicited Idea Submissions

Consistent with our culture of open innovation, we are always pleased to hear from our user community and welcome comments or suggestions to improve the Services. However, to avoid future misunderstandings when new products, services and features developed internally by Dharma Fund LLC might be similar or even identical to a submission received by Dharma Fund LLC, the following policy applies to all third party User submissions to Dharma Fund LLC of ideas, comments, suggestions, proposals or materials: (a) all submissions shall be considered non-confidential and non-proprietary; (b) Dharma Fund LLC will have no obligation concerning the submission, contractual or otherwise (including, without limitation, confidentiality); (c) Dharma Fund LLC will not be liable for any use or disclosure of any submission; and (d) Dharma Fund LLC shall be entitled to unrestricted use of the submission for any purpose whatsoever, commercial or otherwise, without compensation to the third party submitting User.


Entire Agreement/Severability

These Terms are the entire agreement between each User and Dharma Fund LLC regarding its subject matter. If any provision of these Terms are deemed invalid by a court of competent jurisdiction, the invalidity of such provision shall not affect the validity of the remaining provisions of this Agreement, which shall remain in full force and effect. Dharma Fund LLC’s failure to assert any right or provision under this Agreement shall not constitute a waiver of such right or provision.


Changes to Terms

Dharma Fund LLC may alter the Terms at any time, so please review them frequently. If a material change is made, Dharma Fund LLC may notify Users in the Services, by email, by means of a notice on the Services, or other places we think appropriate. A "material change" will be determined at Dharma Fund LLC’s sole discretion, in good faith, and using common sense and reasonable judgment.