Crowdfunding Terms & Conditions

2.1 Reward-Based Campaigns

Creators offer tangible or intangible rewards (products, experiences, early access) in exchange for financial contributions. This is the most common campaign type on the Platform.

Creators set reward tiers with clear descriptions, estimated delivery dates, and quantities

Rewards must be clearly described — no vague or misleading promises

Creators are legally obligated to make a good-faith effort to deliver all promised rewards

Estimated delivery dates are not guarantees — but creators must communicate delays promptly

Digital rewards (e.g., app access, digital content) must be delivered within 30 days of campaign completion unless otherwise stated

2.2 Donation-Based Campaigns

Supporters contribute funds to causes, charities, community projects, or personal needs without expectation of tangible rewards. These campaigns are common for emergency relief, medical expenses, community initiatives, and nonprofit causes.

No rewards or returns are expected — contributions are treated as donations

Campaign creators must provide truthful descriptions of the cause and intended use of funds

Progress updates are strongly encouraged and may be required for campaigns exceeding $5,000

Creators must provide proof of fund usage if requested by the Platform

Charitable campaigns may require additional documentation (see Section 3)

2.3 Equity Crowdfunding

Eligible businesses may offer equity stakes or revenue-sharing arrangements to backers. Equity crowdfunding is subject to strict regulatory requirements and is only available in jurisdictions where permitted by law.

Available only to verified business entities with proper legal documentation

Must comply with applicable securities laws (e.g., SEC Regulation CF in the US, FCA rules in the UK)

Investment limits per backer may apply based on jurisdiction and accreditation status

Financial disclosures, business plans, and risk factors must be provided

Quibit, Inc. may partner with licensed funding portals for equity campaigns in regulated jurisdictions

All equity campaigns are reviewed and approved by our compliance team before launch

2.4 Business Campaigns

Verified businesses on the Platform may launch campaigns to fund new products, expansions, community projects, or operational needs.

Requires a verified Quibit Business account with completed KYC/KYB

Business campaigns receive enhanced visibility and trust badges

Must clearly disclose whether the campaign is reward-based, donation-based, or equity-based

Financial transparency reports may be required for campaigns over $50,000

Business campaigns may integrate with Quibit Wallet for seamless funding

2.5 Creator Campaigns

Individual creators — artists, musicians, writers, developers, filmmakers, and content creators — may launch campaigns to fund creative projects, content production, or community initiatives.

Open to individual verified accounts and creator accounts

May include reward tiers such as signed copies, exclusive content, credits, or early access

Creators retain full intellectual property rights to their work (see Section 9)

Community engagement (updates, comments, behind-the-scenes content) is strongly encouraged

Creator campaigns are subject to the same transparency and delivery obligations as all other campaigns

3.1 Eligibility

Must be at least 18 years old (or the legal age of majority in your jurisdiction)

Must have a verified Quibit account in good standing with no active suspensions or bans

Must provide accurate and truthful personal or business information

Must be legally authorized to enter binding agreements and receive funds

Must reside in or operate from a jurisdiction where crowdfunding is legally permitted

3.2 Identity Verification & KYC

All campaign creators must complete identity verification (Know Your Customer) before their campaign can go live:

Government-issued photo ID (passport, driver's license, or national ID card)

Proof of address (utility bill, bank statement, or government correspondence dated within 90 days)

Selfie verification matching the provided ID

Phone number and email verification

Tax identification number (TIN/SSN/EIN) for campaigns in applicable jurisdictions

3.3 Business Documentation (Business & Equity Campaigns)

Business registration certificate or articles of incorporation

Tax registration documents

Authorized signatory documentation

Financial statements (for equity campaigns — audited if raising over $500,000)

Business plan or project proposal (equity campaigns)

Legal opinion letter confirming compliance with applicable crowdfunding regulations (equity campaigns)

3.4 Banking & Payout Requirements

Must provide a valid bank account for fund disbursement

Bank account must be in the name of the campaign creator or registered business entity

Quibit Wallet may be used as an alternative payout method where available

Creators are responsible for all applicable taxes on funds received

4.1 What You Agree To

Your contribution is a pledge to support a project — it is not a purchase, investment (unless equity campaign), or donation receipt for tax purposes (unless explicitly stated)

Reward delivery dates are estimates, not guarantees — creators may experience delays

The final product or reward may differ from initial descriptions, prototypes, or mockups

You are responsible for providing accurate shipping/contact information for reward delivery

You may not resell campaign rewards commercially without the creator's written consent

Your contribution is binding once the campaign reaches its funding goal (all-or-nothing) or immediately (flexible funding)

4.2 Risk Acknowledgment

Crowdfunding involves inherent risks that backers must understand and accept:

Projects may fail to deliver rewards despite the creator's best efforts

Campaigns may be delayed significantly beyond estimated timelines

The quality or specifications of rewards may change during development

Creators may become unresponsive or unable to fulfill obligations due to unforeseen circumstances

For equity campaigns: your investment may lose some or all of its value, equity may be diluted, and returns are not guaranteed

Quibit, Inc. does not guarantee the success, delivery, or quality of any campaign

4.3 Backer Responsibilities

Research campaigns thoroughly before contributing — read descriptions, FAQs, and creator history

Engage constructively with campaign creators through comments and updates

Report suspicious or fraudulent campaigns promptly using the Platform's reporting tools

Keep your account and payment information up to date

Respond to creator communications regarding reward delivery (shipping addresses, preferences, etc.)

5.1 Funding Models

Campaign creators must select one of the following funding models at campaign creation (cannot be changed after launch):

All-or-Nothing: Funds are collected only if the campaign reaches its funding goal by the deadline. If the goal is not met, all backers are refunded in full. Best for projects with fixed costs.

Flexible Funding: Creators receive all funds raised regardless of whether the goal is met. Backers should understand that the creator may receive insufficient funds to fully deliver the project. Available only for donation-based and select reward campaigns.

5.2 Campaign Duration

Minimum campaign duration: 7 days

Maximum campaign duration: 90 days

Recommended duration: 30-45 days (statistically most successful)

Campaign end dates cannot be extended once the campaign is live (exception: platform-approved extensions for extraordinary circumstances)

Creators may end a campaign early if the funding goal has been met

5.3 Campaign Content Requirements

Clear, honest description of the project, its goals, and current status

Realistic timeline with estimated milestones and delivery dates

Transparent budget breakdown showing how funds will be used

Identification of key risks and challenges and how you plan to address them

At least one image or video showcasing the project

For physical products: prototype photos, manufacturing plan, and shipping strategy

For equity campaigns: full financial disclosures as required by applicable law

All content must comply with the Quibit Content Policy

5.4 Funding Goal Requirements

Minimum funding goal: $100 (or equivalent in supported currencies)

Maximum funding goal: $10,000,000 (higher amounts require pre-approval)

Goals must be realistic and justified by the project scope and budget

Creators must not set artificially low goals to guarantee funding while planning to raise significantly more

Currency for the goal is set at campaign creation and cannot be changed

5.5 Creator Communication Requirements

Creators must post at least one update per month while the campaign is active

Post-campaign updates are required at least once every 60 days until all rewards are delivered

Creators must respond to backer inquiries within 7 business days

Material changes to the project (scope, timeline, rewards) must be communicated via campaign update within 48 hours

Failure to communicate may result in campaign suspension and fund holds

6.1 Platform Fee Schedule

6.2 Payment Processing Fees

In addition to platform fees, standard payment processing fees apply to all transactions:

6.3 Currency & Wallet Support

Campaigns may accept contributions in USD, EUR, GBP, KRW, THB, JPY, MMK, and other supported currencies

Currency conversion is handled at prevailing market rates at the time of transaction

Quibit Wallet balances may be used to back campaigns directly

Creators receive disbursements in their selected payout currency — conversion fees may apply

Cryptocurrency payments are not currently supported

7.1 Standard Disbursement

All-or-Nothing campaigns: Funds are disbursed within 14 business days after the campaign successfully meets its funding goal and the campaign deadline passes

Flexible Funding campaigns: Funds are disbursed within 14 business days after the campaign deadline, regardless of whether the goal was met

Disbursement is made to the verified bank account or Quibit Wallet on file

Platform fees and payment processing fees are deducted before disbursement

7.2 Milestone-Based Release

For campaigns raising over $25,000, Quibit, Inc. may require milestone-based fund release to protect backers:

Funds are released in tranches tied to pre-agreed project milestones

Creators must submit milestone completion evidence (photos, documents, third-party verification)

First tranche (typically 30-40%) released upon campaign completion

Subsequent tranches released as milestones are verified and approved

Final tranche released upon confirmed reward delivery to backers

Milestone schedules are agreed upon before campaign launch

7.3 Escrow & Fund Security

Campaign funds are held securely during and after the campaign period:

All funds are held in segregated escrow accounts managed by our payment partner

Funds are not commingled with Quibit, Inc. operating funds

Escrow accounts are insured up to applicable limits

For equity campaigns, funds are held by a qualified custodian as required by law

In the event of a dispute, funds may be held in escrow pending resolution

Quibit, Inc. reserves the right to delay disbursement if fraud or policy violations are suspected

7.4 Disbursement Holds

Quibit, Inc. may place a hold on fund disbursement under the following circumstances:

Suspected fraud, misrepresentation, or policy violation

Incomplete or failed identity verification

High volume of backer complaints or refund requests (exceeding 10% of backers)

Pending legal or regulatory inquiry

Creator's bank account cannot be verified

Campaign content found to violate our Terms of Service or Content Policy

8.1 Automatic Refunds

All-or-Nothing campaigns that fail to reach their funding goal: All backers are automatically refunded in full within 7-10 business days

Campaigns cancelled by the creator before the deadline (if no funds have been disbursed): All backers are automatically refunded

Campaigns removed by Quibit, Inc. for policy violations: All backers are refunded

Payment processing fees may or may not be refunded depending on the payment provider

8.2 Backer Cancellation

Backers may cancel their pledge at any time before the campaign deadline (All-or-Nothing campaigns)

For Flexible Funding campaigns, backers may cancel within 48 hours of their contribution

After funds have been disbursed to the creator, refunds are at the creator's discretion

Backers may request a refund through the Platform's dispute resolution process (see Section 11)

8.3 Creator Cancellation

Campaign creators may cancel their campaign under the following conditions:

Before the campaign deadline and before funds are disbursed: Full refund to all backers, no penalty

After funds have been disbursed: Creator must return undisbursed funds; creator is responsible for refunding backers for any undelivered rewards

Creators who cancel campaigns repeatedly may lose the ability to create future campaigns

Cancellation due to circumstances beyond the creator's control (natural disaster, legal order, etc.) will be reviewed case-by-case

8.4 Failed Delivery

If a creator is unable to deliver promised rewards:

Creator must notify backers and the Platform immediately upon determining that delivery is not possible

Creator must provide a detailed explanation and evidence of efforts made

Creator must offer alternative rewards, partial refunds, or full refunds as appropriate

Quibit, Inc. may intervene to facilitate refunds from held funds (if milestone-based release)

Persistent failure to deliver may result in account suspension and legal action

9.1 Campaign Creator Ownership

Creators retain full ownership of all intellectual property in their projects, products, and creative works

Funding a campaign does NOT transfer any IP rights to backers (unless explicitly stated in equity campaigns)

Creators retain ownership of campaign descriptions, images, videos, and other content they create

Backing a campaign does not grant backers any ownership stake in the creator's business or IP (unless equity campaign)

9.2 License to Quibit, Inc.

By creating a campaign on the Platform, creators grant Quibit, Inc. a limited license to use campaign content:

Non-exclusive, worldwide, royalty-free license to display, promote, and distribute campaign content on the Platform and related marketing channels

This license is limited to the purpose of operating, promoting, and improving the Platform

The license continues after the campaign ends for archival and reference purposes

Quibit, Inc. will not sell, sublicense, or commercially exploit campaign content beyond Platform operations

Creators may request removal of their campaign content after the campaign concludes and all obligations are fulfilled

9.3 Backer IP Rights

Backers receive only the specific rewards described in the campaign — no additional IP rights

Backers may not reproduce, distribute, or create derivative works from campaign rewards without the creator's permission

For equity campaigns, backer IP rights (if any) will be specified in the investment agreement

Comments, feedback, and suggestions provided by backers on campaigns become part of the campaign record but do not transfer IP to the creator

10.1 Illegal & Fraudulent Campaigns

Campaigns promoting illegal activities, products, or services in any jurisdiction

Fraudulent campaigns with no intention of delivering rewards or fulfilling promises

Ponzi schemes, pyramid schemes, or multi-level marketing recruitment campaigns

Money laundering or campaigns designed to obscure the source or destination of funds

Campaigns created using stolen identities or impersonating other individuals or organizations

Campaigns that violate intellectual property rights (counterfeit goods, pirated content)

10.2 Harmful & Dangerous Content

Weapons, ammunition, explosives, or accessories designed to cause harm

Illegal drugs, controlled substances, or drug paraphernalia

Tobacco products, e-cigarettes, or vaping devices

Campaigns promoting self-harm, suicide, or eating disorders

Campaigns funding harassment, doxxing, stalking, or intimidation of individuals

10.3 Adult & Sexual Content

Pornographic or sexually explicit content

Adult services or escort services

Sexual devices or products (unless compliant with Platform guidelines and age-gated)

Any content involving the sexualization of minors (zero tolerance — see Child Safety Policy)

10.4 Misleading & Deceptive Campaigns

Campaigns with intentionally misleading descriptions, images, or reward promises

Campaigns using fake testimonials, endorsements, or social proof

Campaigns that omit material risks or known obstacles

Campaigns making unsubstantiated health, medical, or scientific claims

Campaigns claiming false affiliations with governments, NGOs, or celebrities

"Fund my life" campaigns with no specific project, goal, or accountability

10.5 Restricted Categories (Require Pre-Approval)

Medical devices or health-related products (requires regulatory documentation)

Financial products or services (requires licensing verification)

Real estate projects (requires legal review)

Campaigns involving children or minors (requires additional safeguards)

Political campaigns or lobbying (subject to local campaign finance laws)

Gambling or lottery-related campaigns

11.1 Backer-Creator Disputes

If a backer has a concern about a campaign or reward delivery, the following resolution process applies:

Step 1: Contact the creator directly through the campaign's comment section or messaging system

Step 2: If unresolved after 14 days, file a formal dispute through the Platform's Dispute Center

Step 3: Platform mediation — Quibit, Inc. will review the dispute and attempt to facilitate a resolution

Step 4: If mediation fails, the dispute may be escalated to binding arbitration (see below)

11.2 Platform Mediation

When a dispute is filed, Quibit, Inc. will:

Review all campaign communications, updates, and relevant documentation

Contact both the backer and creator to understand their positions

Attempt to facilitate a mutually agreeable resolution within 30 days

If necessary, place a hold on undisbursed funds pending resolution

Issue a non-binding recommendation for resolution

Mediation decisions are recommendations — not legally binding judgments

11.3 Binding Arbitration

If mediation does not resolve the dispute, either party may request binding arbitration:

Arbitration is conducted under the rules of the American Arbitration Association (AAA) or equivalent body in the backer's jurisdiction

Arbitration is conducted in English (translation services available upon request)

Each party bears their own arbitration costs; Quibit, Inc. may subsidize backer costs for disputes under $1,000

Arbitration decisions are final and binding on both parties

Class action waiver: disputes must be resolved individually — no class actions or collective arbitration

Small claims court: either party may pursue claims in small claims court as an alternative to arbitration

11.4 Platform Enforcement Actions

12.1 Crowdfunding Regulations

Reward-based and donation-based campaigns are generally not regulated as securities, but must comply with consumer protection laws

Equity crowdfunding campaigns must comply with applicable securities regulations in the jurisdiction of the creator and backers

Quibit, Inc. monitors and adapts to evolving crowdfunding regulations globally

Campaign creators are responsible for understanding and complying with the laws applicable to their campaigns

The Platform may restrict campaign types or features in jurisdictions with unclear or restrictive crowdfunding laws

12.2 Securities Law Compliance

For equity crowdfunding campaigns, additional securities law requirements apply:

United States: Compliance with SEC Regulation Crowdfunding (Reg CF), including annual raise limits, investor limits, and Form C filings

European Union: Compliance with the European Crowdfunding Service Providers Regulation (ECSPR)

United Kingdom: Compliance with FCA crowdfunding rules and guidelines

Other jurisdictions: Quibit, Inc. will comply with local securities regulators and may restrict equity campaigns in jurisdictions without clear frameworks

All equity campaigns undergo legal review before launch

Investment limits may be applied based on backer accreditation status and jurisdiction

12.3 Cross-Border Compliance

Campaigns may accept contributions from backers in multiple countries, subject to applicable sanctions and export control laws

Quibit, Inc. complies with OFAC (US), EU sanctions lists, and UN sanctions — contributions from sanctioned individuals or countries are blocked

Anti-money laundering (AML) and counter-terrorism financing (CTF) procedures are applied to all campaigns

Cross-border fund transfers are subject to applicable foreign exchange regulations

Tax withholding may apply to cross-border disbursements depending on tax treaties between jurisdictions

Campaign creators are responsible for any import duties, tariffs, or customs fees related to reward delivery

12.4 Tax Obligations

Campaign creators are solely responsible for reporting and paying taxes on funds received

Quibit, Inc. may issue tax reporting documents (e.g., 1099-K in the US) as required by law

Backers should consult a tax professional regarding the deductibility of their contributions (charitable donations may be deductible; reward-based contributions generally are not)

Quibit, Inc. does not provide tax advice and is not responsible for any tax obligations arising from campaign activity