29 June 2022
PLEASE READ THIS DOCUMENT CAREFULLY BEFORE USING OUR WEBSITES.
YOUR CONSENT TO THIS DOCUMENT IS THE CONDITION FOR ACCESSING THE FUNCTIONS AND FEATURES OF OUR WEBSITES, AS WELL AS FOR RECEIVING SERVICES.
In order to establish that we did everything we could to ensure you read the following terms and conditions, at your first attempt to access material functionality of your user account we will request you to provide an express consent to this document by clicking the link that we will send to the email address that you register with us.
PULSPROJECT.DE and PULSPROJECT.COM (in this document shall be referred to as the “website”, “site”, “system”) are created, owned, operated and maintained by Puls Technologies GmbH, a limited liability company registered and existing under the laws of Germany, having its registered address at Tauenzienstraße 13, Berlin, 10789 Germany, company No. HRB 213245 B (in this document shall be referred to as “Puls”, “data controller”, “operator”, “we”, “us” or “our”).
You may find more information about us in the “Impressum” section of this website. You may also use our Intercom Live Chat to communicate with us directly and ask any further questions. A telephone number and an email address are also available for contacting us.
This site is made available to you free of charge, however, the functions, features and services offered on or through the site (or all of them, as the case may be) may require you to open a user account (including setting up a username and password) as well as to pay for the services.
By using our site before creating a user account (the “Puls Account”) you agree to the TUW set forth by this Section A.
In order to create and use your Puls Account you have to accept and agree to:
- the TUW set forth by this Section A;
- the Terms and Conditions of Services set forth in Section B (the “TCS”);
- our Data Protection Policy set forth in Section C (the “DPP”); and
we shall be collectively referring to TUW, TCS, DPP, and CP as the “Terms”.
In order to create and use your Puls Account you have to create your username and password. Your username is the email address with which you are opening the Puls Account. One user may have multiple Puls Accounts, however, each of these Puls Accounts shall have a unique username. You may have your username changed only by requesting the administration of the site to perform this action, provided that we reserve our right to reject your request at our sole discretion.
We have the right to impose certain requirements or limitations to the format of usernames and passwords at any time at our sole discretion.
Our site is designed to provide our users with automated web based Treasury services:
- hat will simplify access to your bank accounts in most of German banks thus replacing multiple banking apps with one interface, allowing you to access (including search and filtering) payment transactions made in the past periods (subject to the specifics of various banks), to assign financial categories, your own labels and comments to those transactions, and to simplify financial analysis that you may wish to make on the basis of this information,
(the “Account Aggregation Services”);
- hat calculate a credit limit for you on the basis of the information obtained while using the Account aggregation services including the transactions and end of day balances on a respective bank accounts; that assign and maintain it to your specific entity or to a group of connected companies in your Puls Account,
(the “Credit Limit Maintenance Services”);
- that provide brokerage services under §34c GewO by way of granting access to a loan should you choose to take one (the loan will be provided by a German investment fund; reg. Nr. 70162347),
(the “Brokerage Services”);
- that allow you to simplify cash flow management by adding (changing, deleting) your planned financial transactions in every connected bank account and to see how these will be impacting the end of day balances at each bank account every day as Puls recalculates all those balances instantly based on your planned transactions, thus making it easier to know if you have enough money for each account and day eliminating human error, mistakes in formulas or outdated data in spreadsheets; and if you do not have enough liquidity, you will win time to adapt either by reducing costs or by moving the planned payments or by getting financing from your regular source or soliciting a loan from us by using our Brokerage Services,
(the “Planning Services”);
- that provide you the functionality of creating payment orders based on your planned transactions while using Planning services and submitting those orders to your banks (for every payment order you submit the bank will always be asking for the consent directly from you),
(the “Payment Services”)
We shall be collectively referring to the Account Aggregation Services, the Credit Limit Maintenance Services, the Brokerage Services, the Planning Services, and the Payment Services as the “Services”.
Please check your Puls Account to see the current list of Services as the list above is not exhaustive and may vary from time to time.
The functions, features and Services are distributed across the following sections of your Puls Account:
We cannot and we do not control the identities of individuals actually accessing our system. We presume that our system is always accessed by the person:
- which created the Puls Account and is in the lawful possession of the username and password;
- which is the legitimate owner of the online banking credentials.
ALL SERVICES ARE AVAILABLE TO ANY USER FOR THE EXCEPTION OF THE BROKERAGE SERVICES THAT ARE AVAILABLE ONLY:
TO TRADERS - ENTITIES REGISTERED IN THE GERMAN TRADE REGISTER; AND
TO INDIVIDUALS HAVING NO REGISTRATION IN THE GERMAN TRADE REGISTER, HOWEVER, ACTING IN THEIR CAPACITY OF ENTREPRENEUR,
IN ORDER TO MAKE THE PULS ACCOUNT FUNCTIONAL AND EFFECTIVE YOU WILL NEED TO CONNECT BANK ACCOUNTS TO OUR SYSTEM.
IF YOU DISCONNECT YOUR BANK ACCOUNTS FROM THE SYSTEM IT SHALL IMMEDIATELY BECOME NONFUNCTIONAL – YOUR CREDIT LIMIT SHALL DISCONTINUE, THE PLANNER AND TRANSACTIONS PAGES SHALL BECOME INACCESSIBLE.
IF YOU ARE OPENING THE PULS ACCOUNT AT THE INSTRUCTIONS OF YOUR EMPLOYER OR OTHER THIRD PARTY YOU MUST ENSURE THAT YOU ARE PROPERLY AUTHORIZED.
CONNECTION OF THE BANK ACCOUNTS IS POSSIBLE ONLY IF YOU ARE IN POSSESSION OF THE CREDENTIALS MAKING POSSIBLE ONLINE ACCESS TO THE BANK ACCOUNTS. YOU ARE THUS IN THE POSSESSION OF CONFIDENTIAL INFORMATION THAT ENABLES YOU TO OPERATE THE BANK ACCOUNTS AND THE FUNDS ON THAT BANK ACCOUNTS.
IF YOU DO NOT HAVE A PROOF THAT YOU ARE INDEED A LEGITIMATE COMMERCIAL REPRESENTATIVE OF THE INSTRUCTING PARTY (WHICH POWER OF REPRESENTATION HAS TO BE DULY ISSUED BY THE INSTRUCTING PARTY IN WRITING) YOU ARE AT RISK OF INCURRING PERSONAL LIABILITY FOR ANY LEGAL CONSEQUENCES OF YOUR ACTIONS AS WELL AS FOR ANY DAMAGE OR LOSS INCURRED BY US, OTHER USERS OF OUR SITE OR THOSE INSTRUCTING PARTIES WHICH BANK ACCOUNTS YOU ACCESSED WITHOUT AUTHORIZATION.
REMEMBER, YOUR ACTIONS OF A USER MAY QUALIFY FOR A LEGALLY BINDING CONTRACT ENTERED ON BEHALF OF A LEGAL ENTITY OR OF AN ENTREPRENEUR, INCLUDING THE CONSENT TO BE BOUND BY THESE TERMS.
Our site is our property and/or of our licensors. All text, graphics, user interfaces, visual interfaces, photographs, trademarks, logos, sounds, music, artwork, as well as computer code, including without limitation, the design, structure, selection, coordination, expression, “look and feel” (the “content”) and arrangement of such content is owned, controlled or licensed by or to us, and is protected by copyright, patent, trademark laws and other intellectual property rights and unfair competition laws.
We have the right to disable any username, password or Puls Account, whether chosen by you or allocated by us, at any time, if in our reasonable opinion you have failed to comply with any of the provisions of these Terms.
As long as you comply with the Terms we grant you a personal, non-exclusive, non-transferable (unless directly required hereby or necessary for the performance hereunder), limited right to enter and use this site. For the purposes of these Terms in relation to a legal entity the term “personal” means that the right is granted to the legal entity which bank account has been connected to the system.
You may not:
- copy, reproduce, republish, upload, post, publicly display, encode, translate, transmit or distribute in any way for publication or distribution or for any commercial enterprise any part of this site and content, unless otherwise expressly provided herein;
- use this site for any commercial or business application if you are using it in your capacity of a private physical person (i.e., you are not acting on instructions of your employer, or otherwise not representing any body corporate in the capacity of a managing director, controlling shareholder, ultimate beneficial owner or other controlling affiliate, not acting as a sole entrepreneur);
- use “deep-links”, “page-scrape”, “robots”, “spiders” or any other automatic device, program, algorithm or technology, or any similar or equivalent manual process, to access, acquire, copy or monitor any portion of the site or content, or in any way reproduce or circumvent the navigational structure or presentation of the site or content, to obtain or attempt to obtain any materials, documents or information through any means not purposely made available through the site. And we may restrict or ban any such activity;
- attempt to gain unauthorized access to any portion or feature of the site, or any other systems or networks connected to the site or to any our server, or to any of the Services, by hacking, password "mining" or any other illegitimate means;
- probe, scan or test the vulnerability of the site or any network connected to the site, nor breach the security or authentication measures on the site or any network connected to the site;
- reverse look-up, trace or seek to trace any information on any other user of or visitor to the site, or any other our customer, including any account not owned by you, to its source, or exploit the site or any Service or information made available or offered by or through the site, in any way where the purpose is to reveal any information, including but not limited to personal identification or information, other than your own information, as provided for by the site;
- forge headers or otherwise manipulate identifiers in order to disguise the origin of any message or transmittal you send to us on or through the site or any Service offered on or through the site;
- pretend that you are, or that you represent, someone else, or impersonate any other individual or entity;
- use this site or any content for any purpose that is unlawful or prohibited by these Terms, or to solicit the performance of any illegal activity or other activity which infringes our rights or rights of others;
- use any device, software or routine (including without limitation viruses, trojans, worms, logic “bombs” or any similar program, code or material having destructive, disruptive or damaging effect) to interfere or attempt to interfere with the proper working of the site or any transaction being conducted on the site, or with any other person’s use of the site;
- take any action that imposes an unreasonable or disproportionately large load on the infrastructure of the site or our systems or networks, or any systems or networks connected to the site or to us;
- copy to, create and store on our site any copyrighted or other proprietary information other than that which is retrieved from the banks or created by you in the chat rooms in the course of the use of our site. For avoidance of doubt, by using our site you grant us a personal, non-exclusive, non-transferable (unless directly required by law), irrevocable and unlimited in territory right to accept (receive), store, analyze, destroy and use otherwise any information provided to us by you. We have the right to remove any posting you make on our site if, in our opinion, your post does not comply with the content standards set out in these Terms.
You may use information about our site, the Services and features that was purposely made available for downloading from this site, provided that:
- any proprietary notices remain,
- such information is used only for non-commercial informational purpose and is not copied or posted such in any media,
- no modifications to any such information are made, and
- no additional representations or warranties relating to such documents are given.
Any information and materials from other users have not been verified or approved by us. The views expressed by other users do not represent our views or values. If you wish to complain about such information and materials, please contact us.
You are responsible for:
- backing up your content that you place in our system and consider to be important for you;
- configuring your information technology, computer programs and equipment to access our site;
- using virus protection;
- managing your business and finances.
We may, at our sole discretion, change the Terms in whole or any part thereof at any time. Furthermore, we amend the Terms from time to time. We will reasonably notify you of the amendments. In the event we request you to accept any changes, amendments or the new Terms and you disagree or omit to agree we may limit your access to the system, any of the Services or any of the features, however, you will continue to have sufficient access that will allow you to delete your bank accounts from our system and to delete your Puls Account.
Although we make reasonable efforts to update the information on our site, we make no representations, warranties or guarantees, whether express or implied, that the content on our site is accurate, complete or up to date. We do not guarantee that our site is error-free or always available or its functioning is uninterrupted. We also do not guarantee that the content of our site is always available or that any defects will be corrected, or that your use of this site will provide specific results. The site and the content are delivered on an “as-is” and “as-available” basis.
We may, at our sole discretion, introduce changes to the site which can affect the design of the web pages, functions, and Services. We will reasonably notify you of the major changes.
Where our site contains links to other sites and resources provided by third parties, these links are provided for your information only. Such links should not be interpreted as approval by us of those linked websites or information you may obtain from them. Unless expressly stated by us, we have no control over the contents of those sites or resources.
We may apply these Terms to other websites owned by or associated with us or our affiliates.
WE MAY WITHDRAW OR RESTRICT THE AVAILABILITY, SUSPEND, MODIFY, OR TERMINATE OPERATION OF OR ACCESS TO OUR SITE OR ANY PART THEREOF AT ANY TIME AND FOR ANY REASON. WE MAY DO THIS WITHOUT NOTICE, HOWEVER, WHEN REASONABLY PRACTICABLE WE WILL NOTIFY YOU OF ANY SUSPENSION OR WITHDRAWAL.
Provided always that we do not exclude or limit in any way our liability to you where it would be unlawful to do so under the applicable law:
- YOUR SOLE REMEDY AGAINST US FOR DISSATISFACTION WITH THE SITE OR ANY CONTENT IS THE DISCONTINUATION OF ITS USAGE;
- we cannot ensure that any files or other data you download from this site will be free of viruses or contamination or destructive features. You are always responsible for using your own virus protection software;
- if any defective digital content that we have supplied, damages a device or digital content belonging to you and this is caused by our failure to use reasonable care and skill, we will either repair the damage or pay you compensation. However, we will not be liable for damage that you could have avoided by following our advice not to use this site in your capacity of consumer;
- we exclude all implied conditions, warranties, representations or other implied terms;
- if you are using this site or any Services in your capacity of the consumer we cannot and will not have any liability to you for any loss of profit, loss of business, business interruption, or loss of business opportunity;
- if, notwithstanding the other provisions of these Terms, we are found to be liable to you for any damage or loss which arises out of or is in any way connected with your use of the site or any content, our liability shall in no event exceed the total of any subscription with respect to any respective Service or feature of or on the site paid in the six months prior to the date of the initial claim made against us;
- THE CONTENT ON OUR SITE AS WELL AS ANY MESSAGES THAT YOU MAY RECEIVE FROM THE SUPPORT PERSONNEL OUTSIDE THE SCOPE OF FUNCTIONALITY OF THE SYSTEM OR THE BROKERAGE SERVICES DO NOT AMOUNT TO ANY ADVICE ON WHICH YOU SHOULD RELY. WE DO NOT PROVIDE FINANCIAL, BUSINESS, ACCOUNTING, TECHNICAL, INDUSTRIAL, TRADE OR OTHER ADVICE. YOU MUST OBTAIN PROFESSIONAL OR SPECIALIST ADVICE BEFORE TAKING, OR REFRAINING FROM, ANY ACTION ON THE BASIS OF THE CONTENT OF THIS SITE OR OF THE INFORMATION RECEIVED FROM OUR PERSONNEL.
- if any of the provisions of these Terms are held to be void or unenforceable, such provisions shall be limited or eliminated to the minimum extent necessary and replaced with a valid provision that best embodies the intent of these Terms, so that these Terms shall remain in full force and effect. These Terms constitute the entire agreement between you and us with regard to your use of the site and to you receiving Services.
- if there is a conflict between provisions of these Terms and any information on the site these Terms shall control with respect to your use of that portion of the site or that specific Service.
The exclusive place of jurisdiction for any dispute arising out of or relating to these Terms or any part thereof shall be, to the extent legally permissible, the registered address of Puls Technologies GmbH. These Terms as well as any part thereof are governed by the laws of the Federal Republic of Germany expressly excluding the norms regarding the conflict of laws.
The English language version of these Terms shall be a convenience translation only. The binding language of these Terms is German. The German version of these Terms shall prevail.
We do not provide Brokerage Services and related features offered on or through this site to CONSUMERS (also sometimes referred to as the retail customers).
We do not provide Services and features offered on or through this site to the public law bodies, to sovereign and other state bodies, including without limitation municipalities as well as to any government agencies.
The Services are designed for the legal entities and entrepreneurs (Unternehmen) whether registered in the Trade Register (Handelsregister) or not. YOU HEREBY REPRESENT AND WARRANT THAT:
IF YOU ARE ACTING ON BEHALF OF A LEGAL ENTITY YOU ARE ACTING IN YOUR CAPACITY OF A TRADER (KAUFMANN); OR
IF YOU ARE AN ENTREPRENEUR WHETHER REGISTERED IN THE TRADE REGISTER OR NOT OR REPRESENTING ANY SUCH ENTITY YOU ARE ACTING IN YOUR CAPACITY OF ENTREPRENUER,
(we shall be referring to the legal entities, traders and entrepreneurs as the “entities”);
YOU ARE NOT AN INDIVIDUAL CONSUMER (VERBRAUCHER) (the “consumer”).
The Services provided by means of this web site as well as the legal consequences are dependent on your legal capacity to act on behalf of the entity which bank accounts you connect to our system.
For the purposes of these Terms, the “connection of the bank account to our system” means:
- you are redirected to and directly instructing a licensed and regulated by the Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin) German company - finAPI GmbH (finAPI);
- that you will have to agree to the Terms of Services of finAPI;
that when you connect your bank account to our system:
- you provide your Internet bank credentials (usernames (logins) and passwords) of an entity (whether its own or of the entity that the user represents) directly to finAPI;
- the data accessed by finAPI in the bank shall be transferred to our system to the relevant Puls Account;
- the Internet access by finAPI to the relevant bank account through dedicated bank interfaces designed to retrieve account data from payment accounts pursuant to the rules provided by the Directive (EU) 2015/2366 (the second Payment Services Directive, also known as “PSD2”);
- that your encrypted data is stored securely in a German data center;
- the processing of data by the applications on the site for the purposes of providing Services.
AT NO TIME DO WE OBTAIN ACCESS TO YOUR ONLINE BANKING SERVICE OR BANK ACCOUNTS. PULS SHALL NOT BE RESPONSIBLE FOR THE SERVICES PROVIDED TO YOU BY FINAPI.
In those cases where you are the borrower of the loan(s) the current status of the operations on your bank accounts is essential for the assessment of your credit limit, for the repayment forecast, for the forecasts to be created by the Planner. Thus, in the event of expiration of your authorization (authentication, login) provided to finAPI for the purposes of retrieving the data from at least one of the connected bank accounts to our system you are obliged to renew the authorization (authentication, login) at least once in three (3) calendar days.
Irrespective of the number of the connected bank accounts and the number of the entities to which these bank accounts belong, the connection of each bank account that belongs to (or is under control of) an entity constitutes your confirmation, representation and warranty that:
- you are the actual and lawful holder of the online bank account credentials (ID, password, 2FA keys) necessary to access and operate that bank account;
you are duly authorized to act on behalf of that entity at all times and in all matters:
- either by force of law (as, by way of example only, the managing director) or by a power of attorney; and
- where the joint action of several directors or officers or representatives is required by force of law or by corporate documents of that entity;
- your consent to and execution of the legally binding relationship (contract) by that entity with us.
The bank accounts of one entity may appear in multiple Puls Accounts.
If you connect only the bank accounts of a consumer(s) no credit limit can be established. We do not take into account and do not analyse bank data of consumers for the purposes of calculating credit limits and do not allow consumers soliciting loans.
If you connect bank account of an entity we are entitled to carry out the Know-Your-Client procedure in respect of the entity, directors, shareholders, and beneficiaries pursuant to the laws and regulations currently in force.
When opening the Puls Account you will be requested to set the scope of your subscription. By default all Services shall appear as enabled.
The list of the Services to which you subscribed is available to you in the Settings section of your Puls Account. Should you choose not to subscribe to any or all of the Services you have to disable them in the Settings section.
The fees you are paying for the chosen Services are available to you in the Settings section.
We may, at our sole discretion, change the subscription fees at any time.
Unless you are a new user in the trial period, you agree to the fees by activating the relevant service when you open your Pulse account or in the Settings section. The fees are valid until the end of your subscription period. If you are in the trial period as a new user, you agree to the fees if you decide to continue using our system after the trial period.
Notwithstanding the fact that we account for your subscriptions live, you pay for the Services provided, not in advance. The fees become payable in the end of each day of use of each relevant Service. Unless we notify you otherwise in your Puls Account we will debit your account in the end of each month.
You will find the invoices for the Services with the description of the Services provided in your Puls Account.
At present, there is only one option to pay for the Services - SEPA direct debit. When opening the Puls Account you will be requested to fill in and consent to SEPA mandate to enable us charging the fees. If at the time of opening the Puls Account we offer the new users a trial period you may cancel filling out the SEPA mandate form but the request to provide it shall appear later at the moment the trial period expires.
After the term of your subscription expires you will be requested to subscribe to the Services again, in which case the fees that are valid at the time of the new subscription shall be applied.
You are free to unsubscribe from any Service at any time:
- by disabling the Services in the Settings section of your Puls Account;
- by terminating your Puls Account,
provided, however, that you will not be entitled for a refund. We accept payments on the premise that the payee is authorized to make payments and there will be no refunds available on the grounds of paying by an unauthorized or unduly authorized party or on the face of the fact that the payment was made from a personal bank account.
Please note that if you chose to turn off the Planner you will not be charged for this Service, however, in the event you upload your data into the Planner, we will automatically recommence charging for the Service.
You will see the subscription fees that are currently applicable to the relevant Services in the subscription dialog with the list of the Services and in your Puls Account page.
If on the basis of your bank data our system qualifies your financial position as valid for incurring a debt it will assign you a credit limit which shall be the maximum amount that is available to you as a loan.
If you wish to take the loan you may request it by setting the amount of the loan within the issued credit limit and pressing the “Apply for a loan” button.
Even though the loans are offered by us, we are not a bank. In the matters of the assessment of your financial situation and provision of the loans we are a broker pursuant to §34c GewO for the lender - Montold SME Lending Fund GmbH & Co KG (HRA 55049 B, Tauentzienstr. 13, 10789 Berlin), a registered in Germany domestic specialized closed-ended fund in the meaning of §1(6) KAGB (the “Fund”). The Fund is a BaFin registered (Reg. Nr. 70162347) alternative investment fund.
The lender is the Fund that is acting through its external management company Montold Asset Management GmbH (HRB 212227 B, Tauentzienstr. 13, 10789 Berlin, “Montold”). Montold is also registered by BaFin (Reg. Nr. 10156973).
The calculation and refreshing of a credit limit are operations that consume human and machine resources.
After pressing the “Apply for a loan” button you will be contacted by our manager to arrange for the online video identification pursuant to the requirements of the the Tax Code and identification according to the Anti money Laundering law. Please note that all individuals owning more than 25% of the shares or more than 25% of the voting rights or who exercise control by other means must be identified. In the event the execution on your part is carried out by a representative acting on the basis of the power of attorney that is not notarised, the identification of the individual who signed the power of attorney shall be necessary.
In the event the online video is successful you will receive the draft loan contract which you will have to sign and send back to the sender. You will have the electronic copy of your contract signed by the lender within 24 hours.
You are free to turn off the credit limit. If you turn off the Planner you will not be charged for it. PLEASE NOTE THAT IN THE EVENT YOU ARE THE BORROWER OF A LOAN FROM THE LENDING FUND THAT IS DUE AND PAYABLE YOU MAY NOT UNSUBSCRIBE FROM THE ACCOUNT AGGREGATION SERVICES, THE CREDIT LIMIT MAINTENANCE SERVICES, THE BROKERAGE SERVICES. The unsubscription from these Services shall become available after the full repayment of the loan.
In the event of the changes of, amendments to, or introduction of the new Terms (the “Changes”) your access to the Aggregation Services, the Credit Limit Services and the Brokerage Services shall be limited until you agree to the Changes. If you disagree with the proposed Changes, you shall be unable to update your bank accounts in the system, which failure to update is an event of default under your loan agreement. Therefore, please consult your loan agreement and get in touch with your sales manager.
By agreeing to these TCS you are hereby granting us:
- non-exclusive, non-transferable, for the time of the provision of Services and for the territory of the EU right and license to access and use the data retrieved by you from your bank account(s) and placed in our system for the purposes of providing the Services; and
- non-exclusive, transferable, irrevocable, unlimited in time and territory right and license to use the data retrieved by you from your bank account(s) and stored in our system for the purposes of creation of and developing the machine learning software and for scientific purposes, provided that any such data is anonymized and disassociated with any specific individual or body corporate.
We are the data controller and operator of this website.
Our purpose is to make sure your personal data (the “PD”) cannot be read, copied, altered or deleted by unauthorized person while it is being processed, used or transmitted or after it has been stored.
If possible at all, we would like to avoid anything that would require:
- us to collect your PD, or
- you to provide us your PD.
Nevertheless, certain data, their possible combinations, processing, and use may fall within the sphere of data protection rules enforced by applicable laws and regulations.
We are obliged and we are exercising reasonable efforts to make sure that in the event we receive your PD or bits of data that in combination with other data that we already possess qualify them as PD there are terms on which we lawfully receive, store, process, and use them.
For the purposes of this DPP the PD means any information relating to an identified or identifiable natural person directly or indirectly. Thus, the four elements that make it possible to establish if the information is the PD:
- “natural person” means that data about legal entities is not PD;
“any information” means:
- objective information (e.g., weight or colour of the hair of the natural person);
- subjective information (i.e. any form of evaluation of the natural person), and
- in any format (e.g., video, audio, numerical, graphical);
“an identified or identifiable” means that:
any natural person who can be distinguished from others (sometimes the number of data points that provide this possibility matters) is identifiable. This includes:
- the name;
- the biometric data (including photograph or video);
- online identifiers (IP addresses, cookie identifiers, other identifiers such as radio frequency identification (RFID) tags, any info that can identify a specific device); and
- characteristics that are specific to the physical, physiological, genetic, mental, economic, cultural, or social identity of the natural person;
the identification may be performed:
- directly - if the natural person can be identified using only the information that is in your possession, and
indirectly - if the natural person can be identified:
- by using other information that is available or can be reasonably accessed from another source (“reasonably” means for example, that since the methods of identification develop the data must be continuously reviewed in order to prevent indirect identification as a result of combination of a new method with the information collected);
- by a third party using your data in combination with the data in possession of that third party;
“relating to” (an identifiable natural person) means that the content of the data matters (e.g., if the information is processed to learn something about that specific natural person or if the processing of this information has an impact on that natural person). The records that contain information:
- that is clearly points at the specific natural person (e.g., medical history);
- that describes activities of the natural person (e.g., a bank statement),
may be considered to be “related to” that natural person.
The majority (if not all) of the Services shall remain or become inaccessible to you if you choose not to provide us with your consent to receive from you, store and process your PD or any bits of information that in combination with other bits of information that we may already have qualify for PD or revoke the consent that you have already granted.
PD IS ANY DATA THAT (I) RELATE TO AN IDENTIFIABLE INDIVIDUAL; (II) ARE USED FOR LEARNING OR MAKING DECISIONS ABOUT AN INDIVIDUAL; (III) WHEN PROCESSED, MAY HAVE AN IMPACT ON AN INDIVIDUAL. BOTH THE DATA AND ITS PROCESSING ARE SUBJECT TO DATA PROTECTION RULES.
OTHER THAN IN THE COURSE OF THE IDENTIFICATION PROCEDURE THAT IS MANDATORY UNDER THE APPLICABLE ANTI MONEY LAUNDERING LAWS FOR THE PURPOSE OF IDENTIFICATION OF THE INDIVIDUALS WHO ARE BEHIND THE CORPORATE VEIL WE DO NOT REQUEST ANY INFORMATION TO LEARN ABOUT SPECIFIC INDIVIDUALS. WHEN YOU PROVIDE YOUR NAME, EMAIL, PHOTOGRAPH, VIDEO IMAGE, VIOCE YOU ARE VOLUNTARY PROVIDING US YOUR PD.
To the extent permitted by law we may disclose any information we have about you (including your identity) if we determine that such disclosure is necessary in connection with any investigation or complaint regarding your use of the site, or to identify, contact or bring legal action against someone who may be causing injury to or interference with (either intentionally or unintentionally) our rights or property, or the rights or property of other users of the site. We reserve the right to disclose any information that we deem necessary to comply with any applicable law, regulation, legal process or governmental request. We also may disclose your information if we determine that applicable law requires or permits such disclosure, including exchanging information with other companies and organizations for fraud protection or anti money laundering purposes.
You acknowledge and agree that we may preserve (including, without limitation, in the event of termination of the account) any transmittal or communication by you with us through the site or any Service offered on or through the site, and may also disclose such data if required to do so by law or we determine that such preservation or disclosure is reasonably necessary:
- to comply with legal process;
- to prove the fact of you and us being in the relationship or in order to otherwise enforce these Terms or any part thereof;
- to respond to claims that any such data violates the rights of others, or
- to protect the rights, property or our safety, safety of our employees, users of or visitors to the site, and the public.
YOU MAY NOT TRANSFER YOUR USERNAME AND PASSWORD TO YOUR PULS ACCOUNT TO ANY THIRD PARTY.
You are entirely responsible for maintaining the confidentiality of the information you hold for your account, including your login and password. You are thus responsible for any and all activity that occurs under your account as a result of your failing to keep this information secure and confidential.
You agree to notify us immediately of any unauthorized use of your account or password, or any other breach of security. You may be held liable for losses incurred by us or any other user of or visitor to the site due to someone else using your username, password or account as a result of your failing to keep your account information secure and confidential.
You may not use anyone else’s username, password or account at any time without the express permission and consent of the holder of that username, password or account. We cannot and will not be liable for any loss or damage arising from your failure to comply with these obligations.
In the event pursuant to these Terms the use of this site by you amounts to your legal status of the representative of a legal entity the information regarding your operations which becomes available to us and our analysis shall be always protected by the following confidentiality provisions.
Any information which is disclosed by one party to these Terms (disclosing party) to the other (receiving party), either directly or indirectly, whether in writing, verbally or otherwise, including, without limitation, any materials, software, technical processes, object and source codes and product development techniques, trade secrets, know-how, formulas, processes, algorithms, ideas, strategies, business acquisition plans, pricing policies, customer lists, inventions, data, designs, flow charts, drawings, proprietary information, employment records, business and marketing plans, financial or operational information and all other non-public information, relating to current or future business plans or operations shall be deemed confidential (the “Confidential Information”).
Once the user starts to pay for the Services the complete deletion of all information about the user is no longer possible. We are required to keep the information about our contractual counterpart by force of law.
Confidential Information does not include any information:
- that was publicly available prior to its disclosure by the disclosing party or thereafter becomes publicly available without any violation of these Terms by the disclosing party;
- that was available to the receiving party on a non-confidential basis prior to its disclosure by the disclosing party;
- that becomes available to the receiving party from a person other than the disclosing party (including its directors, employees or representatives) and such person is not, to the knowledge of the receiving party, subject to any legally binding obligation to keep such Confidential Information in confidence; or
- that is approved for use or release by written authorization of the disclosing party.
The Confidential Information shall be kept confidential and shall not be disclosed, in whole or in part, by the receiving party to any person other than to those of its affiliates and its and their respective officers, directors, employees, contractors, counsel, advisors, agents and other representatives (“Representatives”) on a need-to-know basis. All affiliates of a receiving party and all representatives of a receiving party or its affiliates shall be deemed as “receiving party” in the meaning of this.
Both we and you respectively:
- are under obligation to procure that all persons or entities so deemed “receiving parties” will be bound by the terms and conditions of these Terms or equivalent confidentiality and non-disclosure obligations;
- shall be responsible for any breaches of these Terms by any of its affiliates and any Representatives of a receiving party or its affiliates.
The receiving party shall use the same degree of care to prevent disclosure of the Confidential Information that it uses for its own information of like importance; but in no case less than reasonable care.
We are under no obligation to return any Confidential Information to you.
The information about you as a party to the contract with us as well as about your bank accounts, operations and counterparties shall be stored by us to the extent necessary to comply with the legal requirements.
Your bank account data will be stored in the finAPI database (not accessible to us) for a time period of at least 14 months.
By consenting to attend the online video identification you agree to be recorded, to us making and storing your image and the images of your documents (of which fact we will remind you). If at the beginning of the identification you prohibit the video recording your request for the loan shall be deemed cancelled immediately. Such cancellation does not preclude you from requesting the loan again later on.
We shall notify you of available time slots from which you will have to choose the one that you will be able to attend. Be prepared to spend around 30 minutes of your time for your identification and:
you have to make available:
- the managing director (or all of them if they may act only jointly) of the borrower (and of all guarantors, if applicable) or the representative acting on the basis of the notarized power of attorney;
- shareholders owning more than 25% of the shares of the borrower if the borrower is the legal entity;
- fictitious beneficial owners if it is impossible to establish any shareholders owning more than 25%
you have to make sure:
- you have Internet connection of quality sufficient for a video call in the resolution that will convey the picture of the IDs readable, without disturbances or interruptions;
- the device that you use for the online identification is standing still and oriented vertically;
- the lighting in the room is sufficient;
- your ID or passport (if you wish to be identified with your passport please ensure you have the original of the Meldebestätigung).
Please note that the availability of the documents at hand is essential. The online video identification may only be carried out without interruptions.
When you visit our website, we wish to provide content and features that are tailored to your needs. This requires small text files created during the first visit of our website with small pieces of data that are used to identify specific users and computers and improve web browsing experience - cookies.
Data stored in a cookie is created by the server upon connection. It is labelled with an ID unique to the visiting computer and saved by the browser on the device locally. When the computer returns to the website, web server sends a short stream of identifying info to the web browser and the browser sends the previously saved data to the web server to tell that you are the previous visitor. This returned data is the cookie, your unique ID.
Cookies are used to collect and further process information (including PD as the case may be) provided when you use this website. The terms of this CP apply to your access of the content and/or Services we provide regardless of which device (computer, mobile phone, tablet, TV, etc.) you use.
By law, we can store cookies on your device if they are strictly necessary for the operation of our site. For all other cookie types, we need your permission. We are using cookies of the third parties, thus, at the very beginning you see the “cookie banner” requesting your consent. You can change or withdraw your consent at any time from the cookie statement on our site.
We will display the „cookie banner“ to you periodically.
We are using the following cookies: