Legal Notices

TERMS OF USE

What is this Agreement for?

1. MyMoneyTree.tv (“MMT”) is a product of LoreKai Pte Limited registered at 20 Cecil Street, #14-01, Equity Plaza, Singapore 049705 (“LoreKai”).  MMT links Entrepreneurs (with global products) and lenders together in order that one party may help fund the other with a small loan.
   
   
2. If you wish to become a registered Member of MMT you will be required to accept this agreement. If you are in any doubt as to the terms and conditions of this agreement you are recommended to take independent legal advice before proceeding. Headings are for reference purposes only and in no way define, limit, construe or describe the scope or extent of such section.
   
   
3. When you accept that you have read the agreement, the terms and conditions becoming binding between you and LoreKai. You will then be granted access (under your personal password) to our Members Area. While using MMT or representing MMT you agree to be bound by this agreement.

What is MYMoneyTree.tv?

4. There are two aspects of this website: the Public Area and the Members Area. The Public Area may be viewed by anyone and the information within here supersedes all other information made available by MMT. The Members Area may only be viewed by registered Members of MMT.
   
   
5. MMT represents the funding requests by a number of Entrepreneurs who are either subsidiary companies of LoreKai or clients of our subsidiaries (the” Entrepreneurs”). Our Entrepreneurs require specified levels of funding in order to finish or launch their products. MMT matches the Entrepreneurs the MMT Members who are willing to lend money on terms agreed between the parties using MMT and LoreKai as a conduit for all transactions.

Why Entrepreneurs Choose MMT

6. Entrepreneurs have several options available to them for funding their projects. These include (but are not limited to): personal funds, informal loans by friends and family, loans or other borrowing from banks, grants, government awards, business angel financing (debt or equity based) and venture capital funding.
   
   
7. Our Entrepreneurs may not have access to personal funds or informal loans. They may have poor credit or insufficient security for a bank to be interested. They may not be willing to wade through the application process for grants or government awards as this may take too much time. They may be unable to accept the terms imposed by business angels or venture capital firms.
   
   
8. Entrepreneurs choose MMT because we offer more flexibility. All lending is considered “High-Risk” and our Members accept this risk on the basis of better reward. Entrepreneurs when linked to MMT Members do not have to worry about losing their homes or other security if they miss a bank repayment. They do not have to contend with giving large percentages of management control and profits to venture capital firms. Entrepreneurs choose MMT to acquire the necessary funds to get their products launched, with flexible repayment terms and the prospect of MMT members helping their products to become successful.
   
   
9. If you wish to become an Entrepreneur of MMT please in the first instance send us a brief message using the Contact Us link on this website. One of our subsidiary companies will then contact you to discuss if we are able to help you.

Risk Analysis & Due Diligence

10. You are recommended to read the “Risk Analysis” section of the website (link is at the bottom of the web-page) to view the steps we take to ensure that Entrepreneurs we accept have a reasonable chance of success. This helps to ensure your risk in lending is minimised.
    
    
11. However you understand that lending money to an Entrepreneur is considered high risk and MMT recommends you fully research the Entrepreneur you wish to lend money to before accepting a pledge agreement with the Entrepreneur.
    
    
12. Neither MMT nor LoreKai accept any liability for any lending you make with one of our Entrepreneurs and in case you suffer losses, you agree not seek to recover these from MMT or LoreKai. However, where losses are incurred MMT will seek to liaise with and assist Entrepreneurs to return to positive cashflow in order to help MMT Members.
    
    
13. In order to reduce your risk further LoreKai made a relationship with Failsafe Corp. Our Entrepreneurs agree to pay a minor percentage of their income to Failsafe every month. If an Entrepreneur enters into cashflow difficulties, Failsafe will lend the Entrepreneur money to cover the return of Members money. The Entrepreneur then needs to repay Failsafe. Failsafe only makes a relationship with the Entrepreneurs and is not a guarantee or insurance scheme for our Members.
    
    
14. Whilst we have taken reasonable steps to ensure that the information on this site is accurate when first made available, the information may be superseded by events or cease to be accurate subsequently. No obligation to update the information is accepted and we accept no liability for the accuracy or completeness or use of the information contained on this site. The information should not be construed as the giving of advice or the making of a recommendation and should not be relied on as a basis for any decision or action.
    
    
15. Actual results and developments may be materially different from any forecast, opinion or expectation expressed on this site and the past performance of MMT to gain benefit for our Members must not be relied upon as a guide to their future performance.
    
    
16. Sites or pages which are linked to this site are for information only and, unless they are a subsidiary of LoreKai, they may not have been reviewed by us. MMT has no responsibility for the content of sites or pages linked or linking to this site and accepts no responsibility or liability for any losses or penalties whatsoever that might be incurred as a result of linking to any location on any linked sites or pages.
    
    
17. Links to other sites do not necessarily imply that MMT or any of its affiliates endorse or are associated with, or are legally authorised to use any trade mark, trade name, logo or copyright symbol displayed in or accessible through the links, or that any linked site or page is authorised to use any trade mark, trade name, logo or copyright symbol of LoreKai or any of its affiliates.

Members Area

18. Access to the Members Area is granted by accepting this agreement and supplying basic identifying information including your name, email address and where you first heard about MMT. An email will be sent to the email address that you provide. You may need to instruct your email service provider to allow emails from MMT in order that our emails will be allowed by your spam filters. You must confirm that your details are correct and click on the link in the email to confirm this. This will then give you access to the Members Area. We do this to prevent illegal sign-ups and also to confirm validity of our members.
    
    
19. In the Members Area you will have the chance to view our Entrepreneurs and discover more about what they want to do. You will have the opportunity to lend money to them in order to support their business ideas. You will also be able to check the status of all you membership activities. If you wish to become fully involved with MMT either as a lender, a promoter or both you will be required to provide details of your home address and further contact details.

Lending, Guarantees & Repayment

20. MMT Members may identify certain Entrepreneurs to whom they would want to lend money. Once you have completed due diligence on the borrower to your satisfaction you will be required to provide us with certain personal information. At the present time the information requested is used to help LoreKai in Know Your Customer (“KYC”) rules affecting anti-money laundering. If you intend to lend more than US$10000 we may be required to obtain additional information, such as passport or ID numbers or photographic evidence all in the form of a notarised document.  We will inform you if a KYC policy is liable to apply to you.
    
    
21. You should understand that lending money to an Entrepreneur is considered high risk and MMT recommends you fully research the Entrepreneur you wish to lend money to before accepting a pledge agreement with the Entrepreneur.
    
    
22. When you decide to lend money to our Entrepreneurs you will be required to accept a specific agreement with that Entrepreneur. This agreement will detail the exact use of the loan, the terms of repayment, the threshold at which any pledges are converted into actual loans, the period over which the loan will be repaid, the profit that the Entrepreneur is willing to provide you for lending money to them and any details that may give you residual or other benefits from the project of the Entrepreneur.
    
    
23. You may lend a minimum of US$20.00 to any Entrepreneur of your choice. There is no maximum. When you accept the agreement your funds are deposited in the relevant LoreKai bank account controlled by our sister company LoreKai Limited of 163-167 King Street, Dukinfield, Cheshire, SK16 4LF, United Kingdom (“LoreKai UK”). Your funds remain in this account until the agreed threshold is reached. This will be the minimum sum of money the Entrepreneur realistically requires in their business. If the threshold is not reached within an agreed timeframe, you will have to right to cancel your agreement for a full refund. The usual timeframe is 60 days. When the threshold is reached, your funds will be transferred to the Entrepreneur. The Entrepreneur will then post project updates in the “reporting section” of the Members Area.
    
    
24. Neither LoreKai nor LoreKai UK accept any liability for any lending you make with one of our Entrepreneurs and in case you suffer losses, you agree not seek to recover these from LoreKai or LoreKai UK. However, where losses are incurred MMT will seek to liaise with and assist Entrepreneurs to return to positive cashflow in order to help MMT Members.
    
    
25. A schedule of repayments from the Entrepreneur back to you will be agreed between you and the Entrepreneur when you lend your money. Such loan is returned without interest.
    
    
26. Each Entrepreneur that you decide to lend money to will also encourage you to help their business succeed by recommending the business to people you know. The benefits of this include an ongoing income from all sales made by the Entrepreneur and an Affiliate income from all business you directly generate. The terms of this additional income will be in the agreement you accept with the individual Entrepreneur.

Funding LoreKai and MMT

1. LoreKai has individual agreements with each Entrepreneur guaranteeing LoreKai with an income during the whole life of a project. We also receive income from the lending process, given to us as completion fees by the Entrepreneurs. Any funds received by us from Entrepreneurs do not affect the repayment of your lending in any way.
   
   
2. LoreKai and MMT shall use these funds and any others generated through the projects to improve the Member experience and to increase the numbers of viable Entrepreneurs.

Promoting MMT

29. Once you have become a Member of MMT you may promote MMT in one of two ways. You may promote as a FREE member or you may promote under our upgrade programme as a Wealth Development Partner (subject to availability). You do not need to be a lender to promote MMT.
    
    
30. To promote MMT as a FREE Member you will find suggested text for emails and SMS messages in the Members Area (“Get Active!” section). You may use this text to alert your friends, customers or associates. You may also order business cards, postcards or brochures from our online store (when available).
    
    
31. When promoting MMT you MUST NOT send unsolicited messages (online or offline) to any you do not know. You must not offend anyone or provide misleading information. You must not SPAM anyone. You may advertise but we suggest you upgrade to Wealth Development Partner first. If you choose to advertise you agree to disclose your planned campaign to MMT first, in writing and wait until we give our agreement in writing before you book anything.
    
    
32. When you promote MMT as a FREE member you receive CREDITS. For every person you recommend to MMT who signs up as a FREE Member (using your referral ID) we will add 10 CREDITS to your account. Whenever “your” Members lend money to our Entrepreneurs you will be given an additional CREDIT for every US dollar they lend. These CREDITS will attract additional income as follows:
    
    
    1. Every month our Entrepreneurs pay zero point four of one percent (0.4%) into a designated LoreKai bank account (the “Account”);
    2. Every 4 months on March 30th, July 30th and November 30th we divide the money available in the Account pro-rata to Members who hold Credits;
    3. If you hold any Credits you will continue to receive income from the Account as per paragraph 31.b until this agreement is terminated;
    4. If this agreement is terminated the Credits have a nil monetary value and will simply be deleted from the system.
       
       
33. To promote MMT as a Wealth Development Partner you must first upgrade to the business pack (in the Get Active! section of the Members Area). You will be required to sign an additional agreement but you have greater freedom on how you develop our business and with management and support responsibilities you have greater opportunity to create a sustainable income stream representing our Entrepreneurs.
    
    
34. Should at any time during the promotion of MMT you bring MMT or LoreKai into disrepute, whether intentional or otherwise, MMT reserves the right to cancel your membership and take additional legal action against you. We suggest that if you choose to promote MMT that you do so in an ethical way.

Tax

35. Any income you derive as a Member of MMT (either as profit from lending, residual income streams or other benefits or, as a Wealth Development Partner) may be subject to local taxation. As MMT is a global organisation we cannot possibly know the taxation implications of every member. You agree that disclosure of any taxable income is your own responsibility and you are recommended by MMT to take appropriate legal, accounting or tax advice connected to your activities with MMT.
    
    
36. Where required by court order MMT will assist any recognised authority from any jurisdiction in any investigation into any of its citizens where criminal activity is believed to have taken place.

Termination & Disputes

37. This Agreement will remain in full force and effect while you remain a member of MMT unless your account is cancelled by us under paragraph 34 or by you using the cancellation process in the Members Area. If your membership is terminated for whatever reason (personal decision, penalty under paragraph 34, ill-health, loss of internet connection, bankruptcy, death, natural disaster) MMT will seek to bring your account of any outstanding lending, Credits, residual benefits or commissions (as applicable) to a complete repayment stage within 90-days of such termination taking place.
    
    
38. On termination of this agreement for whatever reasons the Member shall at the request of MMT promptly return all documentation in the Member’s possession or control relating to the business activities and affairs of the Company as applicable.
    
    
39. If any dispute or difference arises out of or in connection with this Agreement the parties shall seek to resolve the dispute or difference amicably by using an alternative dispute resolution (ADR) procedure acceptable to both parties before pursuing any other remedies available to them.  If any party fails or refuses to agree to or participate in the ADR procedure or if in any event the dispute or difference is not resolved to the satisfaction of both parties within 90 days after it has arisen the dispute or difference shall be referred to arbitration.

Force Majeure

40. Neither party shall be liable for delay or failure to perform any obligation under this Agreement if the delay or failure is caused by any circumstances beyond its reasonable control, including but not limited to Acts of God, war, civil disorder or industrial disputes.  If such delay or failure continues for a period of at least Sixty 60 days the party not subject to the force majeure shall be entitled to terminate this Agreement by written notice to the other.

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PRIVACY POLICY

41. This Privacy Statement applies to your use of MMT.  From time to time, we may revise this Privacy Statement and recommend that you check it periodically for changes.
    
    
42. Your right to privacy is important to MMT and your details submitted to us shall never be rented or sold to third parties, although when you lend money to our Entrepreneurs you will give us permission to disclose personal information to them in order to execute a proper agreement between you and the chosen Entrepreneur.
    
    
43. When you use this website, the following non-personally identifiable information regarding your visit may be logged:  your IP and your top level domain name (.com, .tv, .org etc.); the date and time of your visit; the pages you access during your visit and; the type of browser you are using.
    
    
44. We use this information for statistical purposes to determine the effectiveness of our site and areas for improvement. We do not use this information to attempt to identify individual users unless such users are attempting to use MMT for illegal or immoral purposes.
    
    
45. You have the opportunity to freely provide personal information in order to receive access to Members Area of the MMT website, access to our brochures, or to have one of our appointed Wealth Development Partners to contact you.
    
    
46. Information supplied by you is used to fulfil your requests for MMT materials. We may also use this information to inform you of changes to requested materials or the availability of additional materials.
    
    
47. We may, however, be obliged to disclose your personal information to meet any legal or regulatory requirements or obligations in accordance with applicable law, to investigate network abuse or a violation of any Terms of Use or other published guidelines, or if you engage in (or are reasonably suspected of engaging in) any illegal activities). We also reserve the right to report any suspected illegal activity to law enforcement for investigation or prosecution.
    
    
48. If you would like to access, modify or delete any information previously supplied by you to MMT or no longer desire to receive materials or other communication from us, you may do so in the Members Area. If necessary, we may need to take reasonable steps to confirm your identity before providing you with personal information we may hold about you.
    
    
49. All information collected is secured to assure it is only used as prescribed above. For purposes of maintaining such security, details of our intrusion prevention and detection processes are not noted here.
    
    
50. MMT may use cookies. A cookie is a mechanism used by many websites to identify, track, and personalize services. This website uses cookies to remember your username and password to help you when you return to the members' area of the website.
    
    
51. This website may contain links to other sites which may or may not be owned or operated by us. Therefore, please be aware that we are not responsible for, and do not control, the privacy practices or content of other such linked sites, including their use of any information that is collected when visitors to our site click through links to those sites or link to the site through those other sites. To the extent you disclose personal information on other web sites, even those to which you have linked through the site, different rules may apply to their use or disclosure of that information to third parties. Therefore, when you leave this site, we encourage you to read the privacy statements of each and every linked web site that collects personally identifiable information before disclosing any information, because we are not responsible for the activities or policies of these other sites.

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DATA PROTECTION

52. Any personal data that you may be asked to provide on this website will be held and processed in a secure manner that complies with most “best practices” of the many nations. Wherever you are asked to submit personal data, such as an e-mail or postal address or a telephone number, you should find a clear statement of: what data will be held, the purpose for which the data will be held, whether any of the data will be disclosed to any third party, and if so, to whom.
    
    
53. If you subsequently choose to submit any personal data, you are thereby giving your consent for that data to be held and processed for the stated purpose(s). If you find that such a statement is not available, or if you feel that it is unclear or inadequate, please use the Contact Us link.
    
    
54. MMT may need to process information about its personnel, consultants, Members, Wealth Development Partners and Entrepreneurs for administrative, marketing, operational, review and safety reasons in order to operate efficiently. When you register with MMT you hereby give us permission to process data about you. Similarly when personnel or Wealth Development Partners enter into a contract of employment or consultancy (as applicable), they consent to MMT processing data about them as necessary for the proper administration of the relationship.
    
    
55. If you are unable to find a particular individual's contact details on our website, you should use the Contact Us link at the bottom of the website and your message will be forwarded to person concerned, who will then decide whether to respond or not. Any queries regarding Data Protection should be addressed to the Data Protection Officer.

End Words

56. This is the complete agreement for MMT in respect of your access to the Members Area. In order to make loans or upgrade your account you will be required to accept additional agreements for those purposes.
    
    
57. We reserve the right to update this agreement at any time without prior warning, unless such changes will detrimentally affect your membership in a severe manner.
    
    
58. You are reminded to take legal advice and to use your own best judgement in any lending you participate in on MMT.
    
    
59. This agreement becomes binding when you accept the terms on the Members Area registration page.
    
    
60. Unless otherwise stated, all contents of this web site © 2008 LoreKai Pte Ltd.