Referred Sign-Up Reward Terms
Acceptance of Terms: By signing-up on Quanloop from the Referral Link, you agree to be bound by these Quanloop Referred Sign-Up Reward Terms (“Referred Sign-Up Reward Terms”), the General Terms & Conditions of Quanloop and the Quanloop Privacy Notice and where applicable, the Loan Agreement. In the event of a conflict between these Referred Sign-Up Reward Terms and the General Terms & Conditions of Quanloop or the Loan Agreement, these Referred Sign-Up Reward Terms will prevail. Quanloop may update Referred Sign-Up Reward Terms at any time without notice to you but without a right to revoke your further referral fees from existing investors referred by you or your company.
Referrer: (maybe also called a member or advocate) is a registered and verified person who recommends Quanloop to others through this referral program.
Referee: anyone who was referred to Quanloop by another person, regardless of whether they’ve invested or not.
Referral: someone who was referred to Quanloop by someone else, who ultimately became Quanloop investor (invested or topped up money to Quanloop clients’ account) as a result of the Referral.
Referral Link: a referral link is a unique link assigned to a Referrer after they sign up for a referral program, designed for the Referrer to share with the others easily. A Referral link tracks the origin of each Referral and creates a connection between a Referee and a Referrer.
Incentive: the rewards that this referral program offers, are meant to motivate Quanloop investors and convince them to participate in Quanloop Referral program. These Referred Sign-Up Reward Terms apply one-sided Incentive that Referral, giving Investor motivation to make a trial investment in Quanloop (Sign-up bonus).
Sign-up bonus: is a reward being paid once to an investor that will sign up, then will verify itself by adding personal information and a copy of the identity document, then will top-up their account in euro for any amount more than zero. Newly signed up Investor may not receive a bonus from several simultaneous programs.
Sign-up bonus amount: is (five euro) 5€. This amount is net of income tax.
Reporting and paying income tax: the Sign-up bonus is considered a present and an income tax should be reported and paid in Estonia. Quanloop will report and pay income tax on top of the Sign-up bonus amount according to the tax payment reporting and payment requirements set forth by the Estonian law.
Sign-up bonus withdrawal: a Referral may withdraw its Sign-up bonus at any time to its IBAN account.
Exclusions: (a) Quanloop will reward newly signed-up private Investors by paying them a one-time Sign-up bonus. This reward is meant for private individuals and won’t be paid to companies registered as separate investors in parallel. (b) Quanloop won’t reward newly signed-up Investors without a Referrer. Neither those recently signed-up Referees will be connected with any Referrers. If by any mistake, a link between a Referrer and its Referral wasn’t created but had to be, the Referrer should report this case to Quanloop support. (c) Quanloop won’t reward any investors who have got their accounts before this Referral Program or without a Referrer. Such investors may benefit from different rewarding programs.
Refusal to make payment: Even if you are otherwise eligible to receive a Referral Fee or Sign-up bonus, Quanloop has the right to refuse to make a payment (either Referral Fee or Sign-up bonus) if any of the grounds stated in the Loan Agreement section 9.2 arise. Regardless of the grounds for a refusal to make a payment, Quanloop shall not be obligated to pay extra interest or any other monetary penalty for the refusal to make payment.
Use of the referral program: You can exercise only one referral program at a time. Check the terms of the bonus from your referring party before signing up.
Creation of multiple accounts: is forbidden. Signing up repeatedly won’t be rewarded; all the different account of the same person will be linked together or removed during the verification. The exception may be made for natural persons who wish to add more than one company and therefore need a new account; such repeated natural Investors won’t be rewarded again once they have received their Sign-up bonus.
Terminated accounts: if you, during the following 12 months upon receiving your Sign-up bonus, do any of the following (a-c), you must return the Fee in full to Quanloop. This clause applies where you: (a) terminate your account in Quanloop and ask to delete your data; (b) revoke the right of Quanloop to borrow money from you according to the General Terms and Conditions and the Loan Agreement; (c) ask to withdraw all or most of your money leaving your balance empty or less than the Sign-up bonus. In case you are obliged to return the Referral Fee in full to Quanloop due to any of the grounds mentioned above, Quanloop has the right to set-off its corresponding claim against you using the money you have invested in your Quanloop account.
Liability: To the fullest extent permitted by law, Quanloop shall not be responsible for any loss, damage or injury whatsoever suffered by you in respect of the subject matter of these Terms (including but not limited to any direct, indirect, consequential, special, punitive or incidental loss or damages) and Quanloop’s liability to you will in all circumstances be limited to the value of the Cashback. For the avoidance of doubt, nothing in these Terms is intended to modify or negate an Investor’s rights under the Law of the Republic of Estonia.