GENERAL TERMS AND CONDITIONS

The parties agree to be bound by and to comply with all the terms and conditions of this Agreement, including any supplements thereto and all specifications and other documents referred to in this Agreement.

Throughout these terms and conditions, the following words will have the following meanings set against them:

• Awaed Fund: Is an online platform certified by the Capital Market Authority aimed to simplify the process of investing in mutual funds through crowdfunding by connecting the mutual fund investor managed by a certified brokerage firm.
• Investor/User: Any natural or legal person who intends to invest in the offering.
• Mutual Fund: An investment programme funded by shareholders that trades in diversified holdings and is professionally managed.
• Fund Manager: A brokerage firm certified by the Capital Market Authority to manage the funds in return for a defined fee.
• Real-estate Developer: Is a real estate developing company contracted by the fund manager to operate the project.
• Investment Units: Ownership rights in fund capital owned by the user upon investment. Represents total value of investment in the fund's capital.
• The Authority: Capital Market Authority.
• Capital Market System: Issued by Royal Decree (M/30) on July 31, 2003.
• Cyber-crime Prevention System: Issued by Royal Decree (M/17) on 2007.
• Prevention of Money Laundering System: Issued by Royal Decree (M/20) on 2018.
• Investment Funds Provisions: Issued by the Capital Market Council by Resolution (2006-219-1) on April 10, 2006. Amended by the Capital Market Authority by decision number (2019-61-1) on May 23, 2016.
• Real-estate Investment Funds Provisions: Issued by the Capital Market Council by decision number (2006-193-1) on July 15, 2006.
• Policies and Procedures: A set of documents issued by Awaed to involved parties. The purpose of the document is to ensure the safety of the services provided by Awaed Fund.

Awaed aims to allow users to reach opportunities offered by funds enlisted in the platform through crowdfunding campaigns.

Upon investment by users, Awaed does not become a contractual party. The investment is concluded only between users and investment managers. However, in some cases, Awaed may be delegated to conduct certain tasks and services on behalf of the investor to simplify the investment process.

Awaed obliges fund managers to provide fund information upon offering. The information provided should include the CMA minimum data required for investors to take an informed investment decision based on clear and precise information.

The nature of the contract between Awaed and users is a mediatory contract; whereas Awaed connects the investor with the fund. Awaed is not a party to any subsequent agreement.

Investment services may not be used and this agreement is deemed invalid in the following cases:

• If the user is not eligible to enter into legally binding agreements.
• If the user is restricted from indulging in investment activities according to the laws and regulations of the Kingdom of Saudi Arabia.

• Showcasing investment opportunities offered by fund managers with full information required as per the Capital Market Authority.
• Opening investment accounts for users that allow them to deposit amounts to be invested on demand.
• Executing investors’ orders by subscribing to investment funds according to determined amounts.
• Delivering all information and disclosures from fund managers to be available for later observation.
• Depositing investment proceeds to the users’ account after collecting from the fund managers, allowing users to transfer to their bank accounts.

Awaed shall exercise its best judgment in rendering its services in accordance with the terms of this Agreement, but otherwise, in the absence of willful misfeasance, bad faith, or gross negligence on the part of Awaed or a reckless disregard of its duties hereunder.

In the event of invalidity of the investment agreement, the user's potential claims against returns resulting from this fact shall be limited to the refund of the investment amount only.

Awaed does not have any additional liability to the above, including the following cases: characteristics of the goods or damages due in accordance with the limits of liability for the product or damages for loss of life, bodily injury, or damage to health.

Responsibility includes Awaed employees, and other third parties used by returns to fulfill the contract.

The user/investor acknowledges that Awaed is not responsible for any losses resulting from the failure of the investment chosen by the user/investor and also acknowledges that Awaed is not responsible for returns for the following cases, but not limited to:

• Not making any profits/revenues.
• Loss of investment.
• Loss of capital.
• Consequential loss.
• Loss of data.

The services provided by Awaed are subject to the specific geographical scope of the Kingdom of Saudi Arabia only.

Awaed, the investor, and the investment fund manager are obligated to provide all disclosures under these terms and conditions, the disclosure and transparency policy, and the KYC form.

The investor and Awaed fully comply with all the laws and regulations in force in the Kingdom of Saudi Arabia and any instructions and regulations issued by the Capital Market Authority or any relevant regulatory or supervisory authorities. All related parties are obligated to apply the provisions of these terms and conditions, policies, and procedures issued by and displayed on the Awaed platform.

According to the restrictions imposed by the regulations and regulations of the Capital Market Authority, its rules, financial technology instructions, and the Central Bank on accounts and transactions, including but not limited to: the limits of transactions, individual transfers, or the number of commercial transactions during any given period of time, Awaed platform may impose restrictions on transactions going to or from your account, or restrict access to your account for periods of time that are high risk in order to protect us or other users in the following cases:

• If we believe that you will expose us to unfair credit or fraud risk.
• If a dispute arises in connection with the account, transactions conducted, or;
• If it is necessary to protect the security of the platform system, or;
• If it appears that you are providing or that you have provided us with false, incomplete, incorrect, or misleading statements (including registration data without limitation) or that you have engaged in fraud or unlawful conduct.
• If we have security concerns about your account or;
• If we suspect fraudulent use of your account or payment information in your account or;
• If you violate the provisions of this agreement.

Awaed may also change, suspend, or block access (including, but not limited to, the funds in your account) or any of your account services provided in whole or in part if necessary to carry out maintenance operations or to update any of your account services provided by the Platform, or where the Platform has high-risk concerns about the way you use the account services provided by the Platform.

The user/investor also acknowledges and agrees that Awaed may accept, reject, or impose general practices on the use of the electronic account services without prior notice to you.

Intellectual property of the platform: the platform’s services, idea, content, design, construction, branches, supplies, trademark, and any patents, rights, profits, or gains that may arise from it in the future; collectively or individually ("Intellectual Property"), is the exclusive and exclusive property of the Awaed Platform indisputably; It may not be copied, imitated, translated, or modified in any way.

Content: Everything that the user adds of data, images, information, and others becomes immediately and primarily the exclusive ownership of the platform that no one disputes and the user has no right to retract, cancel, invalidate, disable, stop its effect or its contractual, legal, or statutory effects.

The rights contained in this clause on the platform and the obligations or guarantees contained therein do not fall under the statute of limitations on the user.

The user/investor shall bear all taxes imposed by law on the services provided by the Awaed platform, as well as any fees or taxes that may be imposed under a system or decision issued by a competent authority.

Awaed may amend or cancel part or all of these terms and conditions or the policies and procedures issued by it without the consent of any other party, and all persons imposed on them must review them periodically.

The User undertakes to indemnify Awaed - and all employees,agents, and representatives working with Awaed - and all affiliate entities of Awaed from all claims, costs, suits, and demands arising from any claim, suit, audit, investigation, or any legal action brought by any person or entity for a reason related to the following:

• Any actual or alleged breach of the representations, warranties, or obligations of the user in this Agreement.
• Any infringement, false statement, or actual or alleged violation of the rights of third parties by the user or his trademarks used in connection with the Service while using the investment account services.
• User's use of investment account services.
• Any transaction submitted by the user via the investment account services.
• Anyior moral damage to Awaed, their intellectual property, their trademark, or their trade reputation.

The terms, conditions, policies, and procedures in their interpretation and explanation of their purposes and concepts shall be subject to the provisions of the applicable laws and regulations of the Kingdom of Saudi Arabia.

The judicial authorities in the city of Riyadh in the Kingdom of Saudi Arabia are competent to decide on disputes that may arise from the implementation or interpretation of these terms and conditions or related to them.

These terms and conditions, policies, and procedures issued by Awaed include the entire agreement and commitment between the platform, the investor, and any related parties.

In the event of a ruling of invalidity or unenforceability of one of the provisions stipulated in these terms and conditions and the policies and procedures issued by Awaed, this does not affect the rest of the terms and conditions. In the event that a part of one of these terms and conditions is declared invalid, that condition or provision is considered null and does not affect the rest of the valid terms and conditions.

The terms and conditions of the Awaed platform shall remain valid and effective in the face of the user even after accepting the user’s request to cancel his account, and the platform informs him of this through the platform’s communication channels or for a reason that the platform deems appropriate, provided that the notice is prior to the account cancellation within a reasonable period and accompanied by the reason.

The Arabic language is the official and ruling language on the platform, even if it is associated with another language.

Awaed does not bear the returns of financial assets for any transfer or deposit made by mistake from the bank account to the wallet within the application or from the wallet to another bank account or between the same wallet and another in the application.

What to do if there is a transfer or deposit error?

If the user transfers an amount from his personal or virtual account to another personal or virtual account by mistake:

• The user must inform the platform immediately.
• The user should contact their bank as soon as possible.
• To ensure a speedy process debugging, communication is important within the first 24 working hours after the conversion error is detected.
• Notify the Saudi Central Bank (SAMA).

Not informing the platform or taking any other action will expose the user to legal accountability.

If an amount of money is deposited or transferred to the user’s personal or virtual account by mistake:

• The user must inform the platform immediately or communicate with his bank.

Not informing the platform or taking any other action will expose the user to legal accountability.

The user must disclose and re-transfer the funds as soon as possible, to avoid imprisonment or a fine according to Article (1) of the Anti-Financial Fraud and Breach of Trust Law, issued by Royal Decree No. (M/79) dated (10/09/1442 AH): Anyone who appropriated the money of others without the right to do so, by actually committing any of the fraud methods, including lying, deception, or deception, shall be punished with imprisonment for a term of up to 7 years and a fine of up to 5 million riyals.

How to avoid repeating the mistake?

There are many notes and details that must be taken care of to ensure that mistakes are not repeated and that funds are not transferred to any wrong account.

• You must make sure of the account number transferred to, which is the most important data at all.
• A common mistake is to switch one or more numbers by mistake, so the number must be checked more than once.
• Be sure to obtain complete and documented data for the account transferred to, to ensure that no errors occur.
• If you are going to transfer to some accounts for the first time, you must do the following:
  • Try to do a test transfer with a small amount, especially if you are going to transfer large amounts, which is the best verification method to ensure that there are no errors in the data.

Registration in Awaed Platform is free. Awaed Platform covers the wallet shipping fees to clients. The platform covers withdrawal fees from the wallet to a personal bank account.

Investing in the investment opportunity is subject to subscription fees and value added tax for the Awaed platform according to the following table:-

• Subscription fees: Variable percentage of the subscription amount in the investment opportunity.
• Value added tax (VAT): 15% of the subscription fees.

The subscription fee is calculated at variable rates according to the size and type of the fund, in addition to the value added tax of 15% of the subscription fee in the investment fund.