SBAN – Terms and Conditions

SERBIAN BUSINESS ANGELS NETWORK (SBAN) RECOMMENDS THAT BUSINESS ANGELS, BEFORE ENTERING INTO A TRANSACTION INVOLVING THE ACQUISITION OR SUBSCRIPTION FOR SHARES, OBTAIN THE ADVICE OF A RELEVANT EXPERT AND OBTAIN APPROPRIATE DUE DILIGENCE, TAXATION AND LEGAL ADVICE

1. The Serbian Business Angels Network (SBAN) does not assume responsibility for investigating, nor has it investigated the business or personal credentials or otherwise of any entrepreneurs or companies (“Registered Companies”) which may be referred to potential investors (“Business Angels”) by the SBAN.  Any such investigation shall be the sole responsibility of Business Angels.  Any information provided to Business Angels (weather by SBAN or a third party) has not been and will not be independently verified by SBAN.  No representation or warranty (express or implied) is made by SBAN as to the accuracy, completeness or fairness of such information.  Business Angels must make their own independent examination of Registered Companies and consider the risks involved before acquiring or subscribing for shares in Registered Companies.
2. SBAN does not advertise or sell investment opportunities on its own behalf and will not provide any form of investment advice to Business Angels.  SBAN offers no advice to Business Angels as to the merits of entering into a transaction of any nature with Registered Companies including any advice as to the merits of acquiring or subscribing for shares in Registered Companies nor does SBAN offer any advice as to the merits of joining the board of Registered Companies. Business Angels may not place any reliance on SBAN in respect of the suitability of any Registered Companies introduced to them through the Business Angels initiative.
3. It is the Business Angels’ responsibility to make their own investigation into individual Registered Companies and by signing these Terms and Conditions, Business Angels shall be deemed to have agreed and acknowledged that they have not sought or relied on advice from SBAN as to the merits of any acquisition or subscription for shares in any such Registered Companies or their appointment in any Registered Company.  Business Angels shall further have been deemed to have agreed and acknowledged that they have not relied on any information in connection with Registered Companies passed to them by SBAN.
4. Business Angels hereby warrant and undertake that they are agreeing to these Terms and Conditions and to act as Business Angels as principals and not as agents for any third parties; provided however that this paragraph shall not prohibit Business Angels from arranging syndicates to invest in Registered Companies where such Business Angels are also investors in such syndicates.
5. SBAN hereby excludes to the fullest extent permitted by law, any warranty express or implied, as to the quality, fitness for purpose, accuracy, timelines, completeness or operation of the Serbian Business Angels Network or any part of it.  SBAN shall not be liable for any loss or damages, whether arising in contract, tort (including negligence or breach of statutory duty) (and including (without limitation to the generality of the foregoing) liability for any loss of profits, business, contracts, revenues, anticipated savings or other economic loss) or otherwise arising from or in connection with SBAN’s operation of the Serbian Business Angels Network for whatever reason.
6. Business Angels hereby agree to keep any information provided to them in relation to potential Registered Companies confidential.  Business Angels shall be expected to enter if necessary into separate confidentiality undertakings with Registered Companies in respect of information to be provided by Registered Companies.
7. SBAN is unable to provide any assurance to Business Angels that it will be able to identify Registered Companies for Business Angels and accordingly by accepting this application form SBAN has no obligation to effect any introduction as between Business Angels and Registered Companies.  SBAN reserves the right to refuse to accept any application form at its absolute discretion.
8. Business Angels hereby confirm that to the best of their knowledge and belief the information contained in this application form is accurate and not misleading.  Business Angels agree to inform SBAN immediately of any material changes in the accuracy of such information and of any matter which would make such information misleading.  Business Angels hereby authorize SBAN to divulge such information to interested Registered Companies as SBAN may consider necessary, but not more than the contract that will be signed between SBAN and Business Angel during final registration of Business Angel as a member of SBAN allows.
9. Business Angels agree to indemnify, and keep indemnified, SBAN, its officers, servants and subcontractors against all claims, costs, proceedings, demands, losses, damages, expenses or liability whatsoever arising out of or as a result of any breach, delay in performance or non-performance of any warranties, undertakings or obligations of Business Angels contained in these Terms and Conditions or otherwise implied by law.
10. Business Angels undertake to infrom SBAN of any investment secured through the Business Angel initiative.  Business Angels acknowledge that there is no guarantee that a suitable investment opportunity will be secured through the Business Angel initiative.
11. Business Angels hereby agree and accept that these terms and conditions in addition with the contract that will be signed between SBAN and Business Angel during final registration of Business Angel as a member of SBAN supersede all prior agreements, and are complete and exclusive.  No oral or written information given by or on behalf of SBAN shall create a warranty or collateral contract and Business Angels may not rely on any such information.
12. Participation of Business Angels in the Serbian Business Angels Network may be terminated at the sole discretion of SBAN without its giving any reasons therefore at any time.  Business Angels, once accepted into the Serbian Business Angles Network, may terminate their participation at any time by giving seven (7) days written notice to SBAN at its registered office. All information acquired while being a member of Serbian Business Angels Network will be treated and keep as business secret five (5) years after termination of Business Angel membership at Serbian Business Angels Network.
13. Business Angels hereby consent to SBAN holding personal data provided by them archived in written form and/or on computer and processing it for the purposes of the Serbian Business Angels Network initiatives and all purposes connected thereto and making such disclosures as are necessary in relation to the Serbian Business Angels Network initiatives and as are permitted by law. Serbian Business Angels Network warrant that it will have all requisite consents to disclose data to SBAN and will not disclose any data where there is any doubt as to whether a relevant party has consented to the disclosure of such data.
14. Business Angels shall bear sole responsibility for any costs, fees or expenses incurred by them in connection with these Terms and Conditions in addition with the contract that will be signed between SBAN and Business Angel during final registration of Business Angel as a member of SBAN and in connection with any agreements with Registered Companies.
15. These Terms and Conditions will be governed and construed in accordance with the laws of Republic of Serbia and Business Angels hereby agree to submit to the exclusive jurisdiction of the courts of Republic of Serbia.

SERBIAN BUSINESS ANGELS NETWORK (SBAN) RECOMMENDS THAT BUSINESS ANGELS, BEFORE ENTERING INTO A TRANSACTION INVOLVING THE ACQUISITION OR SUBSCRIPTION FOR SHARES, OBTAIN THE ADVICE OF A RELEVANT EXPERT AND OBTAIN APPROPRIATE DUE DILIGENCE, TAXATION AND LEGAL ADVICE