Terms and conditions
1. Purpose, parties and acceptance
These Terms govern access to and use of the Brickstarter platform (the "Platform"), owned by Brickstarter, S.L., tax ID B98901952, with registered office at Avenida Cortes Valencianas 35, 32 · 46015 Valencia (Spain) ("Brickstarter"), and the relationship between Brickstarter and registered users (the "User").
1.1 Who is who
It is important that the User distinguishes two separate roles:
- Brickstarter, S.L. owns the Platform and provides the service: registration, the user account, identity verification, project information and support.
- The developer company of each project promotes the specific property and receives the funds allocated to financing it. It is a different company for each opportunity and is never Brickstarter, S.L.
Each property page identifies the developer company for that project, with its name and tax ID, and the bank account to which the funds for that specific opportunity are sent.
Registering on the Platform implies full acceptance of these Terms, the Legal Notice, the Privacy Policy and the Risk Warnings. If you do not agree with them, please do not register or use the Platform.
2. Registration requirements
Registration is open to anyone over 18 years of age with legal capacity to contract who passes the identity verification process. Legal entities may also register, through a duly authorised representative.
The User warrants that the data provided is true, accurate and current, and undertakes to keep it up to date. The User is responsible for safeguarding their credentials and for all activity carried out from their account.
Activating two-factor authentication is recommended.
3. Identity verification
Before transacting, the User must complete the identity verification process (KYC) required by Spanish Law 10/2010 on the prevention of money laundering and terrorist financing, providing an identity document and any additional documentation requested.
Brickstarter may suspend or refuse access, block transactions and report the relevant information to the competent authorities where required by that legislation, without this giving rise to any right to compensation.
The User must also prove ownership of any bank accounts registered. Only accounts in the User's own name are accepted: payments to third parties are not executed.
4. Account balance
The User has a balance on the Platform reflecting funds contributed and not yet invested, together with any returns and capital repayments due to them.
The balance shown on the Platform constitutes a claim by the User against Brickstarter. The corresponding funds are held in bank accounts owned by Brickstarter. Brickstarter is neither a credit institution nor a payment institution, and the funds are not covered by the Deposit Guarantee Fund.
5. Depositing funds
The User may contribute funds by bank transfer to the account indicated on the Platform, using the unique reference provided. The transfer must come from an account held by the User.
The balance is not credited automatically: the request remains pending until Brickstarter verifies receipt and the supporting document provided. If verification is unsuccessful, the request is rejected and the User is informed.
6. Investing in properties
Published properties include their description, the project's financial information and estimated returns. Estimates are projections based on assumptions and do not constitute any guarantee of outcome.
The minimum investment is that stated for each property. Investment orders are executed against the User's available balance and, once executed, are final and irrevocable, without prejudice to any rights granted to the User by consumer protection legislation.
Brickstarter may reject or limit an order if the requirements are not met, if the funding target has been reached, or if any other circumstance justifies it.
7. Secondary market
The Platform allows the User to publish offers to buy and sell their holdings and to accept those published by other users, on the terms and minimum amounts indicated at any given time.
Brickstarter does not guarantee liquidity: whether a counterparty exists depends on another user accepting the offer. Nor does it guarantee any particular price or act as counterparty to transactions.
On accepting an offer, the transaction is executed against the buyer's balance and ownership of the holding is transferred to the seller. The transaction is final and irrevocable.
8. Returns and repayments
Returns generated by each property are credited to the User's balance in proportion to their holding, within the periods and on the conditions stated for each project. There is no guaranteed return: if the property generates no income, there is no return to distribute.
Applicable tax withholdings are applied to returns in accordance with Spanish legislation and the tax residence declared by the User, who is responsible for the accuracy of that declaration and for their own tax obligations.
On the sale or liquidation of the property, the corresponding share of capital and, where applicable, any capital gain is credited. Repayment of capital is not guaranteed and may be lower than the original investment.
9. Withdrawing funds
The User may request withdrawal of their available balance to a previously verified bank account held in their own name. Requests are processed within the ordinary timeframes for bank transfers.
Brickstarter may withhold or refuse a withdrawal where required by anti-money laundering legislation, where there are indications of fraud or unauthorised use of the account, or where the destination account is not properly verified. In such cases the User will be informed, unless legislation prevents it.
10. Risks
The User acknowledges and accepts that property investment involves risks, including:
- Total or partial loss of the capital invested.
- Lack of liquidity: it may not be possible to sell the holding when desired.
- No return, or a return lower than estimated.
- Market risk: property values may fall.
- Execution risk: delays in works, licences, occupancy or sale.
- Counterparty risk: the solvency of Brickstarter and of the project companies.
Past or estimated returns do not guarantee future returns. Information on the Platform is for information purposes only and does not constitute investment, financial, tax or legal advice.
11. Fees
Applicable fees are set for each investment opportunity and published together with it, on the relevant property page, before the User completes their investment.
The User may consult them at any time on the page of the project they have invested in. No fees other than those published at the time of investment will be applied.
12. Account closure
The User may close their account at any time provided they hold no balance and no live holdings. If they do, they must first withdraw the balance and divest.
Closing the account does not mean the immediate deletion of all data: it is kept blocked for the applicable legal periods, as explained in the Privacy Policy.
Brickstarter may suspend or close an account in the event of a serious breach of these Terms, fraud, or where required by law, informing the User unless legally prevented from doing so.
13. Liability
Brickstarter is liable for damage arising from breach of its obligations in accordance with applicable law. Liability is neither limited nor excluded in cases where consumer protection legislation prohibits it.
Brickstarter is not liable for property market performance, for the financial outcome of projects, or for the User's investment decisions.
14. Amendments to these Terms
Brickstarter may amend these Terms for legal, technical or service reasons. Substantial changes will be communicated to the User at least 30 days in advance, and the User may close their account free of charge if they do not accept them.
15. Governing law and dispute resolution
These Terms are governed by Spanish law.
For any dispute, the parties submit to the Courts of Valencia, except where the User is a consumer, in which case the competent forum will be the one determined by consumer protection legislation.
The User may address complaints to info@brickstarter.com. If you are a consumer resident in the European Union, you may also use the European Commission's online dispute resolution platform.