- All orders to purchase shares and participate in an investment campaign (your "Order") through the Tulipshare Service are subject to acceptance by us.
- The contract between you and us to purchase the stocks you have specified in your Order will come into effect when we confirm to you that we have accepted your Order. All Orders will be processed by our Investment Platform Provider, in accordance with the Order Handling Policy (https://tulipshare.com/documents/order-handling).
- Orders that you make to purchase shares through the Tulipshare Service are “market order” investments (i.e.Orders that, once accepted by us, will be executed at the best market price then available to Tulipshare). When you place an order, you will be shown the last-traded price, which may differ from the actual execution price (due to fluctuations in the market). If you place an order outside of regular U.S. market trading hours, your order will queue until the market reopens.
- By submitting an Order, you agree to pay us the following:
- the value of the investment; and
- the Tulipshare Transaction Fee (as described in paragraphs 15 below).
- We have set out below the steps that describe how to transfer funds to your Tulipshare Account (Step 1), convert your currency from Great British Pounds (“GBP”) to United States Dollars (“USD”) (Step 2), and submit an Order (Step 3). Each step described below is a separate process.
Step 1 (transfer of funds): transfer funds in GBP from your bank account to your Wallet.When you click on “Deposit funds,” you will be shown transfer instructions, including a unique account number and a sort code.By making the bank transfer, you authorise the placement of such funds into your Wallet by our Payments Provider.
Step 2 (currency exchange): convert the funds (or the relevant portion of the funds) in your Wallet from GBP to USD and pay the Tulipshare Conversion Fee (as described in paragraph 15.4 below). Each currency exchange transaction is a separate transaction based on the currency rate provided by the Payments Provider at the time you wish to convert the funds. The actual conversion rate at the time the conversion is made may differ from the quoted conversion rate due to market fluctuations and is subject to change. The resulting amount of USD from the conversion may differ accordingly.By submitting a conversion request, you agree to pay us the Tulipshare Conversion Fee.
Step 3 (submit an Order) once the funds are converted to USD, they will be transferred from your Payments Provider account to your Investment Platform Provider account. You then have the option to submit an Order through the App. If you submit an Order and the Order is accepted by us, the Order will be processed by the Investment Platform Provider.
- Once your Order has been accepted by us, the funds with will be held on account by the Investment Platform Provider until the Order has been processed. The Investment Platform Provider will use commercially reasonably endeavours to execute the Order as soon as possible. Orders that are placed outside of market hours will queue until the relevant market opens.
- If you wish to liquidate your investment/s (i.e. sell your shares for cash), note that any proceeds from such liquidation will remain in USD unless and until you follow the steps set out in paragraph 12.8(b) below.
- After liquidating your investment/s you have the option of either:
- keeping your proceeds in USD. If you choose to do this, the proceeds will remain in your Investment Platform Provider account (you can keep the funds in your account or use the funds to place another Order); or
- converting the proceeds from USD to GBP. If you choose to do this, once converted the GBP funds will be transferred to your Payments Provider account, where you will be able to transfer the funds in GBP to your bank account by following the instructions in the App.
- We will make available to you on at least a quarterly basis, a statement generated by the Investment Platform Provider showing your investments through the Tulipshare Service, and available funds held in your Tulipshare Account, recent transactions, fees and any other details we may provide, from time to time ("Statements”). The Statements will be available in the “Documents” area of the App.