Important Stuff

What we need you to know

1. People II People is a trademarked name of Genesis Innovation Management Inc. (Genesis)
2. Any personal data provided to us is encrypted.
3. All transactions are conducted via our secured portals.
4. You have up to four levels of password protection controlled by you.
5. Monies not lent by you is always held segregated from the funds of Genesis Innovation Management Inc. We maintain a segregated client account at the SKNA National Bank to hold your monies.
6. Genesis does not pay interest on monies not lent (cash balances).
7. Money not lent is always available to you. During working hours and subject to specific cut off times to ensure efficiency of service to you, you may request to withdraw any cash balances held in your favor.
8. You bear the cost of transferring funds to your account with Genesis.
9. We disburse funds by cheque. (No ACH Yet!!!?)
10. You bear the cost of transferring funds to your benefit if not by cheque.
11. Your money is never used to run the administration of People II People.
12. How do we make our money?
    1. We charge each lender 1% of lent funds, collected as we collect the repayments of each loan on your behalf.
    2. We charge each borrower between 1% and 4% depending on their computed risk band and the duration of the loan.
    3. We may charge a subscription for access to premium services such as performance analytics, auto bid/sale or any other services we may develop.
    4. We charge the lender 1% of the value of a loan part sold on the secondary market.
13. We do not make investment decisions on your behalf. You are responsible for selecting loan requests that matches your risk appetite and for deciding how much if any should be invested in each loan request campaign.
14. Where you choose to use any tools provided via our platform to assist you in the process of loan selection and your bidding, you are solely responsible for verifying the accuracy and consistency of selections made on your behalf.
15. We do not guarantee that your offer to fund a loan request would be accepted by the borrower. The borrower may choose to accept other offers more favourable to him/her than yours.
16. Offers are ranked base on the best offered rate, then by earliest time of each offer.
17. You cannot withdraw an offer once you have made it unless other offers outrank you and the loan campaign will be fully satisfied without you.
18. We do not guarantee performance on your lending portfolio. Your returns are dictated by the frequency and selections you make in deciding which loan requests to fund.
19. You are required to initiate and authorize all user transactions, including bids, withdrawals, loan requests, and the acceptance of all agreements.
20. People II People may initiate administrative transactions to your account in the following circumstances:
    1. Refunds (return of money to you even though you have not requested it).
    2. Fees – We will deduct any transaction, subscription or penalties from your account. Account includes cash, investment or loan accounts.
    3. Processing – transactions associated with the funding and repayments of each loan and the individual loan parts.
21. We have initiated a living will that provides for our solicitors to continue the administration of the platform in the event that Genesis Innovation Management Inc. becomes impaired. The solicitors or Bank may charge an additional administration fee.  We continue to work to improve these arrangements.
22. In the event of such contingency arrangement no further loans will be granted and funds will be returned to each investor as the existing loans are repaid. Each member will be contacted and instructions will be provided.
23. Borrowers are required to make contribution to our credit loss fund to provide indemnity for any outstanding balance in the event of unexpected loss of life during the term of the loan.
24. Borrowers may optionally make contributions to our credit loss fund to cover disability during the term of the loan.
25. In the event of death of the borrower before the loan is repaid, the outstanding balance and interest to the next payment date will be settled by our credit loss fund.
26. You may ask questions of us at any time by emailing us at info@peopleiipeople.com.