Foundect

Terms & Conditions

Last Updated: 20 December, 2025

These Terms & Conditions ("Terms") govern your access to and use of the Foundect platform, website, applications, and related services (collectively, the "Platform"), operated by Foundect ("Foundect", "we", "us", or "our").

By accessing, registering, or using the Platform, you confirm that you have read, understood, and agreed to be bound by these Terms. If you do not agree, you must not use the Platform.

1. About Foundect

Foundect is a Shari'ah-aligned digital platform designed to connect businesses seeking ethical funding with investors interested in participating in Shari'ah-compliant investment opportunities.

Foundect does not act as a bank, lender, financial institution, broker, or investment advisor.

Foundect does not hold, manage, or guarantee funds unless explicitly stated otherwise.

2. Eligibility & Account Registration

2.1 Eligibility

To use Foundect, you must:

  • Be legally capable of entering into binding contracts.
  • Provide accurate, truthful, and complete information.
  • Comply with all applicable laws and regulations of Bangladesh.

Foundect reserves the right to approve, reject, suspend, or terminate any account at its sole discretion.

2.2 Account Types

Foundect supports two account types:

  • Investor Accounts: Individual Investors can open these type of accounts and invest in Business Campaigns.
  • Business Accounts: Businesses can open these accounts to launch campaigns to raise funds AND can invest in other campaigns as well.

Each account type may have different permissions and requirements.

2.3 Verification & Review

  • All accounts are subject to manual and/or automated review.
  • Approval is not guaranteed.
  • Accounts may remain under review for up to 24 hours or longer.
  • Foundect may request additional documents at any time.

3. Shari'ah Compliance

3.1 General Principle

Foundect aims to facilitate Shari'ah-compliant investment structures, including but not limited to:

  • Musharakah
  • Mudarabah
  • Murabaha

However:

  • Foundect does not issue fatwas.
  • Final Shari'ah responsibility lies with the user.

3.2 No Guarantee of Compliance

While Foundect makes reasonable efforts to ensure compliance:

We do not guarantee that every campaign or business will remain Shari'ah-compliant at all times. As Foundect does not verify compliance by themselves and has external institutions to review them.

4. Role of Foundect

Foundect acts solely as:

  • A technology platform
  • A connector between investors and businesses

Foundect:

  • Does not manage business operations and their funds
  • Does not manage investor's funds
  • Does not guarantee profits
  • Does not insure losses
  • Does not control how funds are used after transfer

All investment relationships are directly between investors and businesses.

5. Investment Risks

By using Foundect, you acknowledge that:

  • All investments involve risk, including potential loss of capital.
  • Past performance does not guarantee future results.
  • Profit distributions are not guaranteed.
  • Delays, defaults, or losses may occur.

Foundect shall not be held liable for:

  • Business failure
  • Fraud by businesses or investors
  • Misuse of funds
  • Incorrect profit projections

6. Campaign Information & Accuracy

Businesses are solely responsible for:

  • Accuracy of campaign details
  • Financial projections
  • Risk disclosures
  • Profit distribution terms

Foundect does not verify all claims and shall not be responsible for inaccuracies unless proven to be willful negligence.

7. Payments & Transactions

7.1 Direct Payments

Where applicable:

  • Funds may be transferred directly from investor to business.

Foundect does not act as a payment intermediary.

7.2 Confirmation

Investors must provide transaction proof when required.

Submission of false payment confirmation is strictly prohibited.

8. Fees & Charges

Foundect may charge:

  • Platform fees
  • Success fees
  • Service or operational fees
  • Other fees when necessary

All applicable fees will be:

  • Clearly disclosed before commitment
  • Deducted as per agreed terms

Foundect reserves the right to modify fees with prior notice.

9. Profit Distribution

  • Profit distribution terms vary by campaign.
  • Distribution timing may be:
    • Periodic (monthly, quarterly, annually)
    • End-of-term
    • As defined in campaign agreements

Foundect does not guarantee profit payment schedules.

10. User Responsibilities

You agree not to:

  • Provide false or misleading information
  • Engage in fraud or manipulation
  • Use the Platform for illegal activities
  • Attempt to bypass platform safeguards
  • Harass or abuse other users

Violation may result in immediate suspension or termination.

11. Intellectual Property

All content, branding, trademarks, and software related to Foundect are owned by Foundect.

You may not:

  • Copy
  • Reverse engineer
  • Modify
  • Redistribute

without prior written consent.

12. Data & Privacy

User data is handled in accordance with Foundect's Privacy Policy.

By using the Platform, you consent to:

  • Data collection
  • Verification checks
  • Compliance procedures

13. Suspension & Termination

Foundect may suspend or terminate accounts:

  • Without prior notice
  • For violations
  • For legal & regulatory concerns
  • For platform integrity reasons

No compensation shall be provided for terminated accounts.

14. Limitation of Liability

To the maximum extent permitted by law:

  • Foundect shall not be liable for indirect, incidental, or consequential damages.
  • Total liability shall not exceed the fees paid to Foundect (if any).

15. Indemnification

You agree to indemnify and hold Foundect harmless from:

  • Claims
  • Losses
  • Legal costs arising from your use of the Platform or violation of these Terms.

16. Amendments

Foundect may update these Terms at any time.

Continued use of the Platform constitutes acceptance of updated Terms.

17. Governing Law & Jurisdiction

These Terms are governed by the laws of Bangladesh.

Any disputes shall be subject to the exclusive jurisdiction of the courts of Bangladesh.

18. Contact Information

For questions or concerns:

Email: support@foundect.com & partnerships@foundect.com

(Support page)

Final Note

Foundect is a facilitative platform — not a guarantor. Users are expected to act responsibly, ethically, and lawfully.

END OF T&C