Declaration and statement of acceptance of crowdfunding investment risks

1- In crowdfunding, the applicant uses the funds to establish and develop a business to earn a profit, but project profitability is not certain. Under Article 2 of the Crowdfunding Directive, applicants and fund providers share project profits and losses. Project failure or deviation may therefore cause losses or the loss of the fund provider's capital. If the applicant's business deviates from the projected plan or the applicant defaults on payment, the operator will take appropriate action to protect fund providers' interests within the applicable agreements.

2- As there is no liquidity guarantor during the investment period until maturity, invested funds cannot be accessed before maturity and participation certificates cannot be transferred, except where regulations permit and all applicable requirements are met.

3- Within applicable laws, regulations, and agreements, the operator is responsible for verifying documents and providing crowdfunding services. Accordingly, under Article 32 of the Crowdfunding Directive, the operator will not recommend investment in any particular project. Introducing or advertising a project without obtaining its dedicated symbol from Iran Fara Bourse, or conducting crowdfunding activities outside the platform, is prohibited and has no effect.

4- Crowdfunding operates under applicable laws and regulations, which all stakeholders must understand and follow. Changes to laws and regulations do not remove investors' responsibility to remain informed. Oversight by the Crowdfunding Evaluation Working Group does not relieve fund providers of their responsibility to obtain relevant information or their commitment to accept investment risks.

5- Licensing of the operator by the Crowdfunding Evaluation Working Group and Iran Fara Bourse is intended to support regulatory compliance and information transparency. Such licenses do not imply comprehensive supervision of all applicants and fund providers, endorsement of their activities' benefits, or a guarantee of profitability. No license issued by Iran Fara Bourse constitutes approval of a particular project or a recommendation to invest in it. The Working Group and Iran Fara Bourse disclaim liability for losses arising from reliance on all or part of the relevant documents.

6- Disclosure of these risks does not release the operator from liability. As the operator acts with knowledge of applicable laws and regulations and within its regulatory, contractual, and professional duties, negligence or failure to fulfill those duties may give rise to civil, criminal, or disciplinary liability, as applicable. Investors may report any observed violation of crowdfunding regulations to Iran Fara Bourse in writing.