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Terms & Conditions

Terms & Conditions for using the Zeed Platform. Please read and understand.

Welcome to Zeed, an Islamic investment platform designed to help you invest in a way that complies with Shariah principles. Before using our services, please read the following terms and conditions carefully. By using our platform, you agree to be bound by these terms and conditions.

Definitions

  • "You" or "User" refers to any potential Fund Provider, Business Manager, or individual accessing the Zeed Platform or using Zeed services.
  • "Working Days" are Monday to Friday (excluding Saturdays, Sundays, and public holidays).
  • "Fund Provider" is an individual, company, or institution committed to placing a sum of money to be channeled as business capital (under the Syirkah Mudhorobah agreement) or purchase capital (under the Murabahah agreement) to be used by the Business Manager to support their business.
  • "Personal Data" is the personal data that You voluntarily send to Us via the Zeed Platform, including data generated and related to the use of Zeed services, either as a Fund Provider or Business Manager.
  • "Service" is any service from Zeed used by Users, Borrowers, and Lenders to access information available on the Platform, make decisions to transact via the Platform, perform contract administration, and other forms of service to bring together Fund Providers and Business Managers within the Zeed Platform.
  • "Zeed", "We", "Us", "Organizer" refers to Zeed Mitra, Pte. Ltd., a company established under the laws of the Republic of Singapore that operates in the field of project financing based on Islamic information technology contracts.
  • "Business Manager" is an individual or company that obtains business capital to run their business project through Zeed services.
  • "Agreement" is a pact between the Fund Provider and Zeed, or Zeed and the Business Manager, to regulate their respective rights and obligations during the funding process.
  • "Platform" is a web portal owned and operated by Zeed currently located and accessible at URLs: zeedsharia.com, including any URL changes over time.

Platform Usage

  • Zeed provides information through this platform and facilitates Users to organize business project funding with Syirkah Mudhorobah, Musyarakah, or Murabahah contracts.
  • Zeed merely provides the Platform and facilitates IT-based business project funding transactions to Users, Business Managers, and Fund Providers.
  • Zeed is neither a Business Manager nor a Fund Provider. Hence, in providing services, We act solely as intermediaries or representatives (wakalah) of the Fund Provider in channeling their funds for funding to the Business Manager.
  • Zeed has granted a license to be used solely as a Crowdfunding Service Platform and cannot be used for commercial purposes on behalf or for the benefit of any third party unless approved by Zeed.
  • You are required to provide accurate, valid, and legally enforceable Personal Data in accordance with the requirements presented on this Platform. This obligation also applies to any changes in Personal Data.
  • You are responsible for ensuring the accuracy and correctness of the information details You provide, both at registration and anytime You access Our Platform.
  • This Platform may contain links to platforms managed by third parties, provided solely for reference and knowledge. We neither operate nor support these third-party platforms in any form or content.
  • You agree to grant Zeed the right, without imposing any obligations on Zeed, to:
    • Access, monitor, control, or filter any user account activity or content;
    • Prevent/restrict user access to accounts and/or platform;
    • Report suspicious activities possibly violating applicable laws to relevant authorities.

Scope of Service Provision

  • The Zeed Platform and its contents do not constitute financial advice, financing advice, or solicitation of financial interest. Therefore, all transactions occurring within the Zeed Platform between Fund Providers and Business Managers are entirely the user's choice and responsibility, as We do not claim to provide advice on these matters.
  • Zeed is a company and platform specializing in connecting project capitalization opportunities between Fund Providers and Business Managers, especially SMEs (small and medium enterprises).
  • In transactions, Zeed acts as a mediator between Fund Providers and Business Managers or as a representative (wakalah) of all Fund Providers involved in a project to manage the business capitalization process, whether as a capital owner in a Syirkah Mudhorobah or Musyarakah contract or as the first buyer in a Murabahah contract.
  • Zeed is obligated to ensure and perform due diligence on every prospective Business Manager to determine whether their business is viable to receive capital in terms of reputation, capability, track record, and the shariah compliance of business products and operations managed by the Business Manager.
  • Zeed reserves the right to suspend, limit, or terminate user access to the Zeed Crowdfunding Service if suspicious or in violation of the law. If a suspension, restriction, or termination of user access occurs, it will be directly informed to the user.
  • Although We have taken appropriate steps to ensure reliability and accuracy, Zeed does not guarantee the content's completeness and bears no responsibility for any losses arising from using this information.
  • Users agree that Zeed has the authority to determine whether you can be a qualified Business Manager based on Zeed's judgment and policies. Zeed has no obligation to provide detailed explanations about the reason, limitations, or assessment indicators that form the rejection's basis, so you have no right to claim compensation, right acceptance, or any form of reimbursement from Zeed.
  • Users understand, acknowledge, and agree that Zeed's role is merely administrative and acts as a facilitator that arranges contracts and connects Fund Providers and Business Managers for capital provision.
  • Users will use their account and password for the Crowdfunding Service exclusively to access information, features, and other documents available for each user. If access to the Service is suspended by Zeed for certain reasons, users cannot access the service (including account balance) until the account is reactivated. For questions, contact sa​la​m@​ze​ed​sh​ar​ia​.​c​om​.
  • We do not guarantee that this Platform will always be available and meet your needs, nor do we guarantee against disruptions, delays, failures, or loss of transmitted information.

Registration Process

  • Users must create an account and fill in the available data on the platform to join as Zeed service users. After that, users will be given limited access to the platform, but once they become an Investor, users will be given full access and features available on the Platform. Users also agree to accept all terms and conditions and Zeed's privacy policy.

Accounts and Passwords

  • Registration and ownership of a Zeed account will not incur any fees. Users only need data such as an e-mail and a password for registration. Users are expected to maintain password security and not disclose it to anyone, including family members, friends, and anyone from Zeed. Zeed will never request a user's password.
  • Users are advised to change their password regularly, at least every 3 to 6 months, to reduce security risks or account hacking. Zeed recommends using a password of at least 8 characters consisting of uppercase and lowercase letters, numbers, and unique characters, and to avoid easily guessed passwords.
  • Users are expected to be vigilant and always check for any indications of account breaches/hacking. If there are suspicious activities, immediately contact Zeed Customer Services at sa​la​m@​ze​ed​sh​ar​ia​.​c​om​ or +​6​5 ​98​81​ ​5​15​0.
  • Zeed is not responsible for losses arising from inaccurate, invalid, and legally non-compliant personal data as set out in the Zeed platform.

Contact

  • Zeed may contact users via e-mail or other methods regarding information (such as instant messaging or chat). Zeed is not responsible for losses resulting from email account malfunctions or any other referred communication methods.
  • Users should check, read, and understand every message or information sent by Zeed to their e-mail. Note that these messages or information might contain links to further communication or messages on the platform.

Service Fees and Other Charges

  • Users agree to the fees charged to Investors in the form of transaction fees and asset management fees. Users must read and understand all information regarding service fees and other charges as it's vital for users to comprehend their impact on their investments.

Crowdfunding Service Agreement

  • The Crowdfunding Service Agreement between Zeed and the Investor is in a standard form and binds this agreement when the Investor expresses their agreement by ticking the terms and conditions box and/or signing the agreement.
  • The Investor agrees to empower Zeed as the Organizer to represent the Investor as a shareholder of the Issuer, including in the general meeting of the Issuer's shareholders and signing the deed and other related documents.

Viruses, Hacking, and Other Offenses

  • Users are expected to maintain the security of their information to avoid harmful viruses or materials. Users must not attempt to gain unauthorized access to the Platform, the server where the Zeed Platform is stored, or any server, computer, network, or database connected to the Zeed Platform. If a user is found to be involved in such activities, their rights to use the Platform will be immediately terminated.

Currency Conversion Terms

  • When the USER provides funds to ZEED in a currency other than IDR, then the USER agrees that the currency conversion rate used by ZEED to convert from IDR to SGD refers to the IDR selling rate from OCBC NISP taken daily.
  • When the USER obtains investment returns from ZEED in a currency other than IDR, the USER agrees that the currency conversion rate used by ZEED to convert from SGD to IDR refers to the SGD selling rate from OCBC NISP taken daily.
  • ZEED uses the Rupiah (IDR) currency, so all amounts set out in the contract and displayed on ZEED's website are in IDR.
  • The currency conversion value paid by the USER at the time of investment payment is in accordance with the value stated on the invoice and does not change.
  • Once the funds are received by ZEED from the USER, ZEED is tasked to immediately receive, convert and store them in IDR simultaneously.
  • The USER is willing to receive an online call from ZEED as part of the conversion contract assembly (majelis akad) process to ensure no Riba Nasiah, i.e. riba due to delays in currency exchange.
  • The USER is willing to bear any gains or losses arising from changes in currency conversion rates in the entire investment process on the ZEED platform.
  • In the event of cancellation or withdrawal of investment by the USER, the currency exchange rate used is the exchange rate on the same day of the cancellation or withdrawal, using IDR as the price base, with the conversion rate based on Paragraph (2) in this article.

Prohibited Actions

Users agree not to engage in the following activities:

  • Access, collect, retrieve, and/or copy content, information, and/or data on the Platform through methods such as crawling, web spidering, automatic indexing, scraping, and/or systematic data retrieval on the Platform, either automatically or manually, for any purpose that may cause damage or disruption to the Platform, including our electronic system, without Zeed's permission.
  • Resell, use, monitor, display, download, or reproduce any content or information, software, or services available on the Platform for any commercial or competitive activity or purpose.
  • Pretend to be another person or entity, falsely claim a relationship with someone or an entity, or use a false identity intended to mislead, deceive, or confuse others.
  • Any action that harms Zeed and users, whether intentional or unintentional, constitutes a violation. Zeed can suspend a user's account and/or refer the matter to the relevant authorities.

User Risk of Zeed Services

Users who utilize Zeed's services may encounter certain risks that can occur on the platform or user accounts. The risks include:

  • Investors understand the potential risk of zeedsharia.com website and zeedsharia.com application going down, causing Users to be temporarily unable to access their accounts.
  • Issuers might possibly default on their payments to Investors.
  • Investors might potentially lose funds due to insufficient investment analysis when selecting Issuers, leading to an investment process not aligning with the Investor's expectations.
  • Registration failures due to Investors not meeting the required criteria.

Cookies

  • Cookies are small text files automatically placed on a user's device, which function in saving user preferences or configurations when visiting a website. Cookies are used to track user data when needed, track user transactions, remember user preferences, and enhance user experience on a website.
  • Users have the option to accept or reject these cookies and can know when cookies are sent to their computer. If users choose to decline cookies, they may not be able to use some parts of Zeed services.

User Disputes

  • Users are entirely responsible for their interactions with other users. Zeed reserves the right, but is not obligated, to monitor any disputes that arise (if any).
  • Users fully agree and understand that disputes between users are matters to be settled between the users, without any obligation on Zeed's part to investigate or resolve such disputes.

Changes

  • Any changes made by Zeed to the Terms and Conditions will be displayed and informed on the Platform without prior notice. Users are expected to read the Terms and Conditions page regularly. If users continue to use the Zeed website services, they are deemed to agree to the changes made.

Disclaimer

  • Zeed cannot accept responsibility for matters related to the Platform that are beyond the reasonable control of Zeed. All information provided by Zeed is given in good faith.

User Complaints