Crowdfunding Terms

imt Crowdfunding User Terms

This agreement is signed by a crowdfunding user (“user”) with imt smart things sdn bhd (1338858-D) and imt smart enterprise (UT0036231-X) and its affiliates (“imt”).

Users should read this carefully before using the “www.imalaysiatech.com” or “imt Home – Your Home Revolution” Facebook official fan pages and any related methods (“imt crowdfunding platform”) to support the crowdfunding project provided by imt. The entire content of the User Terms (“This Agreement”), in particular, is the statement and guarantee of the bold label, the failure of crowdfunding, and the jurisdiction of the court. User agrees to this Agreement or uses the services under this Agreement, indicating that the User has read and understood all the contents of this Agreement and agrees to be bound by this Agreement.

Part 1 Definition and interpretation

Unless otherwise expressly stated in the body of this Agreement, the following terms used in this Agreement are defined as follows:

1. Crowdfunding: refers to the behavior of imt and the user to complete the project and realize the mass production of the promised product. The user funded the imt crowdfunding project. If the crowdfunding was successful, imt completed the project and delivered the product to the user as promised.

2. Crowdfunding deadline: refers to the recruitment time of the crowdfunding project determined by imt.

3. Total amount raised: refers to the total amount of funds raised at the end of the crowdfunding period.

4. Crowdfunding success: refers to the expiration of the project crowdfunding period and the total amount of the scheduled fundraising.

5. Crowdfunding failure: Refers to one of the following situations:

a) The crowdfunding failure has failed, that is, the crowdfunding period has expired but the scheduled fundraising amount has not been reached;

b) imt cancels the project before the expiration of the crowdfunding period due to various factors such as capacity limitation, market risk and legal risk;

c) imt clearly stated that it was unable to deliver the project promised products after the crowdfunding success due to various factors such as capacity limitation, market risk and legal risk.

6. Successful completion of the project: means that imt delivers all products to the user.

Part 2 Declarations and warranties

1. The user declares and warrants that the relevant agreements, announcements and rules have been carefully read before supporting the crowdfunding project. If the user chooses to support the crowdfunding project, the user is deemed to have known and fully agrees with the above content, and the content agreed by the user shall be subject to the version of the product sponsored by the project. The foregoing may be updated by imt and the updated part will be announced in an appropriate manner.

2. The User declares and warrants that the User has reached the age of 18 and has reached the legal age at which a binding contract can be signed.

3. Regarding changes in relevant laws, regulations and policies of crowdfunding, or changes in project operations, market conditions, etc., users should understand and accept the risk of crowdfunding failure.

Part 3 Rights and obligations of imt

1. imt launched a crowdfunding project on the imt crowdfunding platform. On the project introduction page, the crowdfunding deadline, the scheduled fundraising amount and the promised product were indicated. The user clicked the “I want to sponsor the project” button to support. After the crowdfunding is successful, imt delivers the project promised products to the user within the promised time, invoices according to the commitment and undertakes follow-up services.

2. Unless crowdfunding fails, imt will not refund the user to the crowdfunding project. In the event of a crowdfunding failure, imt should promptly inform the user through the imt crowdfunding platform and other means that all the funds raised will be returned to the user in full. The refund period is generally not less than [30] business days.

3. In view of the characteristics of crowdfunding business, imt needs to obtain the user’s personal information (including but not limited to the user’s name, age, shipping address, phone number, etc.), for imt to complete the return delivery or handle the customer complaint, refund Use for crowdfunding purposes. Imt should protect user privacy in accordance with the Privacy Policy.

4. imt shall not be liable for any failure to receive the promised product due to the user’s own reasons, including but not limited to the incorrect address provided.

Part 4 Other rules

1. If some of the terms of this Agreement are found to be illegal by the Dispute Resolution Body, it does not affect the validity of the other terms.

2. This Agreement applies to Malaysian law.

3. If there is a dispute between the two parties, it should be settled through consultation on the basis of friendly principles; if the negotiation fails, the District Court of Kuala Lumpur should be the court of first instance.

4. If there is any inconsistency between the Chinese version of this Agreement and other language versions, the Chinese version shall prevail.