General Terms and Conditions of Business

General Terms and Conditions of UNIVERS Capital GmbH for the Use of the Platform and the Brokerage of Securities, Special AIFs, or Other Investment Products by the Project Companies

Effective: June 10, 2024

UNIVERS Capital GmbH, headquartered in Berlin, with business address at Grolmanstr. 36, 10623 Berlin (hereinafter also referred to as “UNIVERS Capital”), is the owner of the internet platform “www.universcapital.de” (hereinafter also referred to as the “Platform”). The Platform enables visitors to access information provided by project companies regarding real estate projects, securities, and special AIFs and—after registering as a user—to purchase securities, special AIFs, or other investment products.

1. DEFINITIONS
For the purposes of these General Terms and Conditions (“GTC”), the following definitions apply in addition to the terms defined in the text:
· “Visitor”/“Platform Visitor”: any unregistered visitor to the Platform.
· “User”/“Platform User”: a visitor to the Platform who has successfully registered.
· “Investor”: a Platform User who has purchased one or more securities and/or special AIFs and/or other investment products via the Platform.
· “Real Estate Company”: a company that, as a borrower for a real estate project, raises capital through the Platform from investors acting as lenders or enters into a loan agreement with a bank; for example, a property developer, a project developer, or a project or financing company established specifically for a real estate project.
· “Real Estate Project”: Any project described by a real estate company, in particular the financing, refinancing, acquisition, development, and/or renovation of real estate.
· “Financing Agreements”: means a loan agreement for subordinated debt with a pre-insolvency enforcement bar, entered into between the investor as lender and the real estate company as borrower, for the purpose of participating in the financing of the real estate project.
· Securities/Debt Instruments: are debt instruments that are subordinated, token-based, and subject to a subordination clause and a pre-insolvency enforcement bar.
· “Investments”: are investments within the meaning of Section 1(2) of the German Investment Act (VermAnlG). An investment within the meaning of the VermAnlG is also a financial instrument within the meaning of Section 1(11), Sentence 1, No. 2 of the German Banking Act (KWG).

2. SCOPE OF APPLICATION
1. Upon successful registration, a contractual relationship is established between UNIVERS Capital and the users of the platform in accordance with these Terms and Conditions regarding the use of the platform (“Platform Usage Agreement”). The legal relationship between UNIVERS Capital and the users of the platform is governed exclusively by the following provisions of these Terms and Conditions.
2. Upon successful completion of the identification process in accordance with the applicable anti-money laundering regulations (Money Laundering Act or Financial Market Money Laundering Act), the user and the respective project company enter into a contract regarding investments in accordance with these Terms and Conditions.

Only upon successful completion of the identification process and conclusion of the agreement may the user acquire a specific investment.
3. The legal relationship between UNIVERS Capital and the users of the Platform is governed exclusively by the following provisions of these Terms and Conditions. The legal relationship between UNIVERS Capital and visitors to the Platform is likewise governed exclusively by the following provisions of these Terms and Conditions, which apply to all project companies.

3. REGISTRATION
1. To continue using the platform, visitors must register as users by providing truthful personal information as requested. Natural persons may only register if they are at least 18 years of age and have full legal capacity. Legal entities may only be registered by their authorized representatives. Registration must be completed using a real name and with a complete address. Multiple registrations are not permitted. There is no legal entitlement to registration. UNIVERS Capital may, at the discretion of the respective project company, refuse registration without providing reasons and may terminate the Platform Usage Agreement in accordance with the termination provisions set forth in these Terms and Conditions.
2. As part of the registration process, UNIVERS Capital may, on behalf of the project companies, grant platform users the option to select a username that can be used to communicate visibly with other platform users. Users are then free to choose such a username. The platform is under no obligation to offer this option. Usernames that have already been assigned cannot be reused. The user, and not the specified project company on the platform, is solely responsible for any statements made under a username.
3. After registering on the platform, UNIVERS Capital, on behalf of the project company, will send a confirmation email to the email address provided by the user. Registration is not complete until the activation link in the email is confirmed.
4. Registration using false information is prohibited and may result in exclusion from the platform. UNIVERS Capital reserves the right to delete, without prior notice, any registrations created using one-time email addresses (so-called “disposable email addresses”) as well as any registrations that have not been activated within three months of creation.
5. Platform users are required to keep the information provided during registration up to date at all times for the duration of their registration.
6. When registering, platform users select a password for their registered account. Platform users are required to ensure that this password is not disclosed to any third party. Each platform user is responsible for all actions taken through their account. Users of the platform are required to immediately notify UNIVERS Capital or the respective project company of any third-party knowledge of their password and any unauthorized use of their account.
7. Investors must be residents of the EU and may use the platform only on their own behalf. Registration is strictly personal and may not be transferred.
8. Visitors, users, and/or investors on this platform may not be U.S. persons or act on behalf of U.S. persons. “U.S. persons” refers to U.S. persons as defined by “Regulation S” of the U.S. Securities Act of 1933 and persons who are resident in the United States. These include:

A) Natural persons residing in the U.S.;
B) Partnerships or corporations organized or registered under U.S. law;
C) Estates administered or managed by a U.S. person;
D) Trusts in which one of the trustees is a U.S. person;
E) Branches or offices of a foreign legal entity in the United States;
F) Accounts (other than estates or trust arrangements) managed by a dealer or other trustee without discretion on behalf of or for the economic benefit of a U.S. person, or similar accounts; and
G) Partnerships or corporations, provided that

i. they are organized or incorporated under foreign law, and
ii. were established primarily by a U.S. person to invest in securities that are not registered under the U.S. Securities Act of 1933, unless they were organized or established by accredited investors (as defined in Rule 501(a)) who are also the owners and who are not natural persons, estates, or trusts.

The aforementioned persons are prohibited from using this website. Furthermore, information on this website may not be transmitted to the United States. The investments offered on this platform by the project companies are not registered under the U.S. Securities Act of 1933. Furthermore, trading in the investment products offered is not intended for the purposes of the U.S. Commodity Exchange Act of 1936. Furthermore, the offering and distribution of these investment products in the United States are prohibited. The same applies to the offering and distribution to U.S. citizens or persons resident in the United States, as well as to natural and legal persons who are tax residents of the United States.

4. USE OF THE PLATFORM
1. UNIVERS Capital enables visitors to access information provided by real estate companies regarding real estate projects and financing agreements. It is solely the responsibility of the individual real estate companies to make the information relevant to users’ decisions regarding the conclusion of financing agreements available on the platform. In particular, UNIVERS Capital does not assess whether or to what extent entering into financing agreements regarding the respective real estate project makes economic sense for the individual user. Each user makes this assessment independently and at their own risk. The user is expressly advised to review the risk disclosures contained in the respective documents pertaining to the real estate companies’ offers. Users should only make an investment after they have fully read and understood the risk disclosures.
2. UNIVERS Capital notes that it does not conduct credit checks on the project companies and, with regard to the information provided by the real estate companies about real estate projects and financing agreements, only performs a review to ensure the plausibility and consistency of the overall picture. As part of the plausibility and consistency review, UNIVERS Capital evaluates real estate projects and may assign a so-called UNIVERS Capital rating. This classification is made exclusively for its own purposes and in its own interest and has no protective effect for third parties.
3. The project company is solely responsible for the accuracy, completeness, and timeliness of the information made available regarding the real estate projects and financing agreements—including during the term of the financing agreements. This applies regardless of the adequacy, plausibility, and consistency checks performed by UNIVERS Capital in accordance with paragraph 2 above.
4. The technical provision of information on the platform by UNIVERS Capital and the possibility of concluding contracts via the platform do not constitute a recommendation, brokerage, or investment advice by UNIVERS Capital. UNIVERS Capital does not verify whether the financing agreements offered by the project development companies align with the users’ investment objectives. No suitability assessment is conducted in this regard. UNIVERS Capital provides solely the service of renting out platform space.
5. The technical provision of information on the platform by UNIVERS Capital on behalf of the project development company and the ability to enter into contracts via the platform also do not constitute legal or tax advice from UNIVERS Capital. Users are strongly advised to seek economic, tax, and legal advice—in particular from an attorney and a tax advisor—before entering into financing agreements.
6. Use of the platform is free of charge for visitors and users.
7. Any comments, information, or documents posted on the platform or its associated blogs that violate applicable laws or are otherwise inappropriate—in particular, those containing racist, pornographic, offensive, or immoral content—are prohibited. Violations of this provision may result in the platform user being liable for damages, the deletion of the affected posts, and/or the immediate exclusion of the platform user from further use of the platform.
8. To the extent that UNIVERS Capital provides links on the platform to third-party websites containing external content, such external content was reviewed at the time the link was first established to determine whether it could give rise to civil or criminal liability. It cannot be ruled out that the content may be subsequently modified by the respective providers. UNIVERS Capital does not continuously monitor the content of the linked websites for changes that could give rise to new liability. Users of the platform are advised to familiarize themselves with the applicable terms and conditions and the privacy policy/notices of the respective providers on the redirected/linked pages.
9. In the event of indications of misuse of the platform—in particular, if contracts are concluded via the platform without fulfilling the payment obligations arising from the relevant financing agreements—UNIVERS Capital reserves the right to exclude the user from using the platform with immediate effect.
10. UNIVERS Capital has the right to reduce, expand, or otherwise modify the services offered to users on the platform at any time if this becomes necessary for good cause. Good cause exists, in particular, if the services violate a statutory prohibition, cause significant tax disadvantages for UNIVERS Capital or the users of the platform, or suffer from significant legal defects. However, UNIVERS Capital is under no obligation to do so. Users of the platform will be notified in a timely manner prior to any change in services via email or on the website.

5. ARRANGEMENT OF A DIGITAL PAYMENT/E-MONEY ACCOUNT
1. Prior to placing an initial order with UNIVERS Capital or the relevant project development company to conclude a financing agreement, the user authorizes UNIVERS Capital or the project company to open a payment account with the payment service provider in the user’s name and on the user’s behalf, with the costs of the account to be borne by UNIVERS Capital or the project company. The agreement is concluded upon receipt of the payment service provider’s acceptance, with UNIVERS Capital or its client acting as the intermediary.
2. As a service provider for the project development company, UNIVERS Capital is authorized and obligated for this purpose to forward all necessary information and documents required for opening the digital account to the respective payment service provider. The user hereby consents to the transfer of their personal data necessary for opening the payment account with the respective payment service provider.
3. No one receives a commission from the payment service provider for brokering the digital account. The costs of maintaining the digital account, including the costs of opening it, are borne by the project company.
4. The specific provisions regarding the payment account and its possible termination are set forth in the payment service provider’s General Terms and Conditions, to which the user agrees when the client first places an order.

6. FACILITATION OF FINANCING AGREEMENTS
1. Users of the platform have the option to accept offers posted by real estate companies on the platform to enter into financing agreements. Through the platform, the user thereby declares a binding acceptance of an offer to enter into a financing agreement to the real estate company (regarding the subordinated loan with qualified subordination or the acquisition of the loan claim) as well as to the trustee (regarding the trust agreement). The contract is concluded upon receipt of the respective acceptance by the real estate company or the trustee, in each case with UNIVERS Capital or the project development company acting as the agent for the transmission of the declaration. Before submitting acceptance of an offer to enter into the financing agreements via the platform, the information provided in the registration form must be updated.
2. UNIVERS Capital, in its capacity as an authorized service provider, notes that UNIVERS Capital, acting on behalf of the project companies, performs only the suitability assessment required by law (Section 16(2) of the German Financial Services Regulation [Fin-VermV]). This assessment inquires into the user’s knowledge and experience regarding transactions involving certain types of financial instruments to determine whether the user is capable of adequately assessing the risks associated with the financing agreements. If the project developer does not receive sufficient information from the user to conduct such an assessment, the assessment cannot be performed. UNIVERS Capital, in its capacity as a service provider, will notify the user of this. The user may nevertheless decide to accept offers from the project companies. The same applies in cases where UNIVERS Capital believes that the user is unable to adequately assess the risks arising from the financing agreements. Here, too, UNIVERS Capital, in its capacity as a service provider, will inform the user accordingly. The user may nevertheless decide to accept offers from real estate companies.
3. Orders from users are executed in accordance with the product risk, the customer classification, and the target market designation of the respective product, provided the order is appropriate; otherwise, the user will be notified of the lack of appropriateness.
4. Users who wish to enter into financing agreements via the platform may use the platform only for their own account. Registration is strictly personal and may not be transferred.
5. Prior to the conclusion of the contract, users of the platform are generally classified by the project development company as “retail investors”/“private clients.” This applies regardless of the user’s knowledge and experience with transactions involving financial instruments and other investments.
6. Classification as a “Professional Client” or “Eligible Counterparty” is possible through a written agreement between the user and the respective project development company, if and to the extent that the user requests this and provides the company with written proof of meeting the respective requirements for classification as a “Professional Client” or “Eligible Counterparty.” Downgrading to “Retail Client” is possible by written agreement between the user and the project development company, provided the user requests this in writing.
7. Classification as a “Retail Client” means that the user enjoys the highest level of legal protection with regard to investor protection and transparency within the framework of the business relationship. A reclassification may have adverse effects for the user with regard to the scope of the project development company’s due diligence obligations toward the user prior to order execution.
8. In the event that financing agreements are concluded, UNIVERS Capital does not receive any commission from the respective real estate company.
9. Payments under the financing agreements are processed exclusively through an external payment service provider. UNIVERS Capital does not itself accept and/or make any payments. Payments received as part of successful interest and principal repayments are accepted by the external payment service provider, which holds them in trust and disburses them upon instruction from the project company.

7. LIABILITY
1. UNIVERS Capital or the project development company shall be liable to the user/investor without limitation for injury to life, limb, or health, and for damages resulting from the intentional or grossly negligent breach of its contractual obligations under the Platform Usage Agreement.
2. Furthermore, in cases of slight negligence, the project development company shall be liable only for breaches of material contractual obligations—that is, breaches of obligations whose fulfillment is essential for the proper performance of the Platform Usage Agreement and on whose compliance the contracting party may reasonably rely (“material contractual obligation”). In the event of a breach of an essential contractual obligation due to slight negligence, the project development company’s liability is limited to such typical damages and/or such a typical extent of damages as were foreseeable at the time the contract was concluded.
3. The foregoing limitations of liability also apply in the event of fault on the part of a vicarious agent of the project development company, as well as to the personal liability of the employees, agents, and officers of UNIVERS Capital.
4. UNIVERS Capital assumes no liability whatsoever for the statements and information provided by real estate companies on the platform, in particular regarding real estate projects and financing agreements.
5. UNIVERS Capital and the project development company shall not be liable for the financial success of the financing, the default on payments, or the risk of insolvency of the parties to the financing agreements.

8. TERM, TERMINATION OF THE PLATFORM
1. Registration on the platform is for an indefinite period and may generally be terminated by UNIVERS Capital or the registered user of the platform with five (5) business days’ notice. Termination must be in writing (e.g., email, fax, letter); the registered user of the platform may terminate their registration, for example, by sending an email to info@universcapital.de.
2. The right to terminate for good cause remains unaffected.
3. Any existing financing agreements with a real estate company remain unaffected by termination.

9. AVAILABILITY OF THE PLATFORM
UNIVERS Capital strives to ensure comprehensive availability of the platform to the extent that is technically and economically feasible. However, for technical reasons, users of the platform cannot be guaranteed availability at all times. In particular, maintenance, security, or capacity issues, as well as events beyond the control of UNIVERS Capital, may lead to a temporary suspension of the services offered and the availability of the platform. UNIVERS Capital assumes no liability for technical difficulties experienced by platform users or third parties. UNIVERS Capital reserves the right to temporarily restrict access to the platform at any time if this is necessary due to capacity limits, the security of UNIVERS Capital’s systems, the implementation of technical measures, or for any other important reason.

10. RECORDING OF TELEPHONE CALLS
1. In accordance with a legal obligation, UNIVERS Capital records telephone calls and electronic communications (e.g., email, chat, video calls, messaging services) related to the initiation/acceptance, transmission, and execution of orders from visitors and users on audio or data storage media and retains these recordings. This applies regardless of whether such communications are conducted using employees’ work or personal telephones. A copy of the recordings of these conversations and communications with customers will be available for a period of five years—or, if requested by the Federal Financial Supervisory Authority (BaFin), the Financial Market Authority, or other regulatory authorities, for a period of seven years—and will be provided to visitors and users free of charge upon request. Of course, this applies only if UNIVERS Capital has its own telephone line.
2. UNIVERS Capital is also entitled to record telephone conversations related to the conduct of the client relationship that are not order-related on audio or data storage media and to retain these recordings. This includes, in particular, telephone conversations regarding complaints. The recording is made for evidentiary purposes. This, too, applies only if UNIVERS Capital uses its own telephone line.
3. Before beginning to record telephone conversations, UNIVERS Capital will inform visitors and users of the purposes of the recording and request their consent, unless the user has already granted UNIVERS Capital general consent to record telephone conversations. UNIVERS Capital is entitled, but not obligated, to prepare transcripts of the recordings. The recordings may be used as evidence in any legal disputes.

11. DATA PROTECTION, CONFIDENTIALITY, TAXES
1. The collection, processing, and use of personal data in connection with registration are carried out in strict compliance with data protection regulations. The processing of personal data serves to fulfill the agreed-upon services and the legal obligations of UNIVERS Capital and the project development companies. Further information on this can be found in the privacy policy under “Data Protection,” available at https://universcapital.de/datenschutz/.
2. Users of the platform must treat the contents of the concluded financing agreements, as well as related reports and other information, as confidential. Information about real estate companies and real estate projects may only be used for the purposes pursued by the platform and specified in these Terms and Conditions.
3. UNIVERS Capital, in its capacity as a service provider, manages the data provided by visitors and users.
4. UNIVERS Capital or its clients reserve the right to review the data and/or information and documents provided by visitors/users of the platform on a random basis.
5. For the purpose of remitting church tax on investment income (if applicable), the user agrees that UNIVERS Capital and the real estate companies may request the user’s church tax status from the Federal Central Tax Office so that church tax can be remitted on the user’s behalf, if necessary. The user may object to the disclosure of their data by filing a blocking notice with the Federal Central Tax Office. A blocking notice remains in effect until revoked or withdrawn in writing.

12. RIGHT OF WITHDRAWAL
Consumers are entitled to a statutory right of withdrawal, which applies to both the Platform Usage Agreement and the Brokerage Agreement. Consumers may rescind each of these contracts separately in accordance with the applicable statutory provisions. Visitors and users of the platform agree that UNIVERS Capital is entitled to begin providing its services under the aforementioned contracts and to perform them in full even before the end of the rescission period.
Note: You have a right of rescission pursuant to Sections 312g, 355 of the German Civil Code (BGB) and—to the extent that you enter into an investment under the German Investment Act (VermAnlG)—an additional right of withdrawal under § 2d of the German Investment Act (VermAnlG). Your withdrawal may be exercised without reference to a specific right of withdrawal and, in each case, results in you no longer being bound by the loan agreement with the project companies. In the event that the consequences of withdrawal differ between the various rights of withdrawal in an individual case, the legal consequence that is more favorable to you shall always apply.

Section 1 Right of Withdrawal
You may withdraw from this contract within 14 days without providing a reason by means of a clear statement. The period begins after the contract is concluded and after you have received the terms of the contract, including the General Terms and Conditions, as well as all information listed below in Section 2, on a durable medium (e.g., letter, fax, email). To meet the withdrawal deadline, it is sufficient to send the notice of withdrawal in a timely manner if the notice is provided on a durable medium. The notice of withdrawal must be addressed to:

the respective contracting parties—in this case: project companies
Grolmanstraße 36, 10623 Berlin
Technical Support: +49 (0) 30 / 810 56 61 – 18
Email: info@universcapital.de

Section 2
Information Required for the Start of the Withdrawal Period
The information referred to in Section 1, sentence 2, includes the following details:
1. the identity of the business; the public business registry in which the legal entity is registered and the corresponding registration number or equivalent identifier must also be provided;
2. the business’s primary business activity and the supervisory authority responsible for its licensing;
3. the business address of the business operator and any other address relevant to the business relationship between the business operator and the consumer; in the case of legal entities, associations of persons, or groups of persons, also the name of the authorized representative;
4. the essential characteristics of the financial service, as well as information on how the contract is concluded;
5. the total price of the financial service, including all associated price components, as well as all taxes remitted through the business operator; or, if an exact price cannot be specified, the basis for its calculation, which enables the consumer to verify the price;
6. any additional costs that may apply, as well as a notice regarding possible further taxes or costs that are not remitted through the business operator or invoiced by the business operator;
7. a statement that the financial service relates to financial instruments that, due to their specific characteristics or the transactions to be carried out, involve special risks or whose price is subject to fluctuations in the financial market over which the provider has no control, and that past performance is not an indicator of future results;
8. a time limit on the validity of the information provided, such as the validity period of limited-time offers, particularly with regard to price;
9. details regarding payment and performance;
10. the existence or absence of a right of withdrawal, as well as the conditions and details for exercising that right—in particular, the name and address of the party to whom the withdrawal must be declared—and the legal consequences of withdrawal, including information on the amount the consumer must pay for the service provided in the event of withdrawal, provided the consumer is obligated to pay compensation for lost value (underlying provision: Section 357b of the German Civil Code);
11. the minimum term of the contract, if it involves a continuous or regularly recurring service;
12. the contractual termination conditions, including any contractual penalties;
13. the Member States of the European Union whose law the business operator relies on when entering into a relationship with the consumer prior to the conclusion of the contract;
14. a contractual clause regarding the law applicable to the contract or the competent court;
15. the languages in which the terms of the contract and the pre-contractual information specified in this cancellation policy are provided, as well as the languages in which the business undertakes, with the consumer’s consent, to conduct communication during the term of this contract;
16. a statement indicating whether the consumer may use an out-of-court complaint and redress procedure to which the business is subject, and, if applicable, the conditions for access to such a procedure;
Section 3 Consequences of Withdrawal
In the event of a valid withdrawal, the performances received by both parties must be returned. You are obligated to pay compensation for the value of the service provided up to the time of withdrawal if you were informed of this legal consequence prior to submitting your declaration of contract and expressly agreed that the performance of the consideration could begin before the end of the withdrawal period. If there is an obligation to pay compensation for use, this may mean that you must nevertheless fulfill the contractual payment obligations for the period up to the withdrawal. Your right of withdrawal expires prematurely if the contract has been fully performed by both parties at your express request before you have exercised your right of withdrawal. Obligations to refund payments must be fulfilled within 30 days. For you, this period begins when you send your notice of withdrawal; for the project companies, it begins upon receipt of such notice.
Notice regarding the right of withdrawal pursuant to Section 2d of the Investment Assets Act (VermAnlG):

Right of Withdrawal
As an investor, you are no longer bound by your declaration of intent to enter into a subordinated loan agreement if you revoke it in writing within the prescribed period. To meet the deadline, it is sufficient to send the revocation in a timely manner.
Revocation is effected by submitting a statement to the provider. The statement must clearly indicate your decision to revoke the contract. The revocation does not need to include a reason. The withdrawal period is 14 days and begins upon conclusion of the contract.

The notice of withdrawal must be addressed to: the respective project companies

Grolmanstraße 36, 10623 Berlin
Technical Support: +49 (0) 30 / 810 56 51 – 18
Email: info@universcapital.de

End of Notice

13. AMENDMENTS TO THESE TERMS AND CONDITIONS
1. UNIVERS Capital or the respective project development company is entitled to amend these Terms and Conditions if such amendments are reasonable for the user, in particular to account for changes in circumstances over which UNIVERS Capital or the project companies had no control (e.g., changes in the law, provided that their specific content was not already —for example, during the period between the conclusion of the formal legislative process and the law’s entry into force—or in the event of changes to regulatory requirements) or to close a gap that has arisen in the terms and conditions (e.g., if a court were to declare a clause invalid). The right of UNIVERS Capital or the project development company to make amendments does not apply to essential provisions of these Terms and Conditions (provisions whose fulfillment is essential for the proper performance of the contract and on whose compliance the user regularly relies and is entitled to rely), such as the contract term and the right of termination.
2. Users of the platform will receive the amended Terms and Conditions via email no later than four (4) weeks before they take effect. UNIVERS Capital or the contracting party will also post a notice regarding the amendment to these Terms and Conditions on the platform itself. If registered users of the platform do not object to the validity of the amended Terms and Conditions within four (4) weeks of receiving notification of the amendment to these Terms and Conditions, the amended Terms and Conditions shall be deemed accepted by them. In its capacity as a service provider, UNIVERS Capital will separately inform registered users of the platform in the notification regarding the amendment to these Terms and Conditions of the legal consequences of failing to object.

14. FINAL PROVISIONS
1. These Terms and Conditions and the legal relationship between UNIVERS Capital, the respective project developer, and the users are governed by the laws of the Federal Republic of Germany, excluding international private law and the UN Convention on Contracts for the International Sale of Goods as incorporated into German law. The place of jurisdiction for merchants within the meaning of the German Commercial Code (HGB) is the registered office of UNIVERS Capital.
2. As a service provider, UNIVERS Capital does not participate in dispute resolution proceedings before a consumer arbitration board.
3. Should any individual provision of these Terms and Conditions prove to be invalid or unenforceable, this shall not affect the validity of the remaining provisions.