Terms of Service (TOS) for Advanced Investment Accounts by SFE Limited

1. General Coverage

As addition to the terms of service covered by S-Pay which you are able to read anytime on the website of S-Pay the following conditions apply to the advanced investment accounts powered by SFE Finance Experts Limited.

By using an advanced investment account the customer keeps a subordinated loan which the loan-taker uses in coverage of the statutory terms.

2. Interest, Currency

Interest rates applied to advanced investment accounts powered by SFE Limited are 6% yearly. Calculation of interests is done monthly subsequent contributed to the actual account balance of the investment account on the last day of the month. Interest payment is declared in the following month using the actual calculation of the month before. Therefore the effective interest rate is 6.1674% yearly. Payouts of any amount saved including their interests will be done of the end of the term of contract directly to active S-Pay accounts.

Advanced investment accounts powered by SFE Limited are held and calculated in Euro only at this time. Possible risks of currencies rely on the customer.

3. Claims by customers

Claims by customers regarding divergences of expected payouts including possible reimbursements are to be done within a time-frame of 10 days after declaration on the customer account in written form. Else the done payout will be signed as approved. Separated settlements, claims and/or messages will not be done. The customer bears with any damage by a late notice of claims.

4. Messages

In general there are no additional messages outside of the shown account information. If it is in need in an isolated case messages can be handled via reference too. At maximum the customer receives information via email. The customer agrees to formulate and send any messages regarding the investment accounts powered by SFE Limited only via email.

5. Subordinated Conditions

5.1. Is the mezzanine loan booked into the borrowers account the acquittance of the loan and interests are not paid until the term of contract is reached in case of

a) if by the liquidation from the borrower the financial claims by the primary creditors are not fulfilled or

b) in case of bankruptcy of the borrower the fulfillment to meet the contract will be handled by the loan or if the fulfillment including interests will lead to a judicial excess of liabilities over assets or a inability to pay for the borrower.

2. Interests as well as acquittance of the loan are only valid by annual surplus, liquidation surplus or other free fortunes held by the borrower.

5.3. The qualified subordinated loan excludes any set-offs with receivables either from the borrower against the loaner and also set-offs from the loaner against the borrower.

5.4. If the borrower receives a set-off by a valid subordination he will return it back to the borrower regardless of other agreements.

5.5. All subordinated loans are held the same way as others and are coequal to each other.

5.6. The borrower does not give any contracted or else securities from itself or through third parties regarding the subordinated loan.

5.7. In case of liquidations (a) or bankruptcy (b) there will be a payout after the settlement of claims from primary creditors and liquidation of all external funds. Therefore the loaner stands behind all actual and future claims of funds of all non-subordinated creditors.

5.8. The maximum joint liability of the loaner is restricted by the initial amount of the subordinated loan.

6. Terms of Contracts and Termination

The time-frame of contracts is 720 days (seven-hundred and twenty days) with an additional 360 days (three-hundred and sixty days) cancellation period. The customer exclusively is able to terminate the contract on working days in the last month of the contract by email only. If there is no termination of contract for whatever reasons or a delayed one the contract will be extended for another year. Violations of the regulations of the time-frames will lead to calculations of prepayment penalties. Therefore it is exiguous if the violation is negligent or premeditated.