4. Backers have the right to email and make inquiries regarding the project, risks, etc. However founders have no obligation to provide information they deem endangers their business’s success or breaches their own privacy.
5. Untreadable has the right at any time to de-platform a project it deems too risky, incomplete, illegal, or immoral.
6. have the right at any time (excepting the 48hrs preceding the project’s end date) to withdraw support (pledge(s)).
7. founders and backers should be aware of the risks involved with rewards based crowdfunding. There is no guarantee of success on the founders’ end, founders could devote much time and effort and even money to a project that fails. Founders and backers need to be aware of these risks, before investing in either founding or backing a project.
8. are highly encouraged to mitigate most to all risks involved via insuring there is a backup source of income, or a side hustle to help with the funding and distribution of rewards. Founders are encouraged to include in the project details a “risk plan” that specifies different risks and their actions to avert them. Founders are also encouraged to have a “management plan” and publish it in their projects details. We do not expect or request founders to reveal any information that would encroach or breach a founder’s privacy or reveal any information that could breach a company’s trade secrets.
9. funding (backing) a project, backers agree to hold Untreadable and the Founder(s) harmless and release all right to the invested money, excepting where it can be proven that the Founder was entirely irresponsible and or made little to no attempt in following through with the project. In such cases Untreadable shall still be held harmless. For more information regarding the legal liability of founders for entrusted funds, please see our “Terms and Conditions and Legal Binding Contract” page.
10. a project meet its “minimum funding amount” before the project’s end date, the founder at any time may release a “going forward” resolution to the backers and pull the funds. In any case where the funds are captured before the project end date, the project may (but is not required to) remain open to funding, in such cases after the first amount has been pulled, all subsequent pledges are immediately “captured.”
11. “going forward” resolution founders must release to backers must include the following information. The date the funds will be pulled, the current amount funded, plans for the successful launch of the project, reasons for expecting the success of the project, a current risk assessment of the project going forward and plans of how to mitigate such risks. Further the “going forward” resolution must be released to backers, 3 days before pulling the project’s funds. Founders may release “going forward” proposals, in scenarios where currently the project has not met the required amount to withdraw the funds, yet in the case that it should meet the required amount in the next 3 days, the funds will be pulled.
12. the event that a project fails to meet the required “minimum funding amount” the founder may “close” the project and all pledged funds return to the backers. OR The founder may release a “going-forward analysis” in which they present all of the project costs, current funded amount, and an evaluation of whether they can still make the project succeed to the backers. The backers then, within 24hrs of the notification, vote whether the project moves forward. There is no revising of the project by the backers, though they may include suggestions. The vote is to be “go-forward” or “close”.
13. not only is a crowdfunding system for funding projects we hope will change the world, but also aims to be a real community for conversation, information, and support, for founders and backers.
