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Seed Fund Terms and Conditions

Effective Date: 6 June 2023

This agreement (the "Agreement") outlines the terms and conditions for the seed funding provided by The Brave Venture (referred to as "we," "us," or "our") to the recipient (referred to as "you" or "your") for the purpose of supporting your project ("Project").

Funding Amount:

We agree to provide a seed funding amount ranging between $50-$250 (New Zealand Dollars) to support your Project. The funding amount shall not exceed $250.

Use of Funds:

The funding should be used exclusively for expenses directly related to the Project, including but not limited to equipment, materials, software, and marketing. The funds shall not be used for personal expenses or unrelated purposes.

Reporting:

You agree to provide one update on the progress of your Project, including milestones achieved, challenges faced, and any significant changes in the project plan. We may request additional documentation or reports regarding the use of funds, as deemed necessary.

Ownership and Intellectual Property:

You retain full ownership and intellectual property rights of the Project. However, by accepting the seed funding, you grant us a non-exclusive, royalty-free license to publicly acknowledge our support and use your Project's name and related materials for promotional purposes.

Audit and Accountability:

We reserve the right to conduct occasional audits to ensure proper use of the funds. You agree to maintain accurate records of expenses related to the Project and provide supporting documentation upon request.

Liability:

We are not liable for any losses, damages, or liabilities arising from the Project or the use of the funds. You agree to indemnify and hold us harmless from any claims, actions, or expenses related to your Project.

Termination:

We reserve the right to terminate this Agreement if you fail to adhere to the terms and conditions stated herein or if we find the progress of the Project unsatisfactory. In such a case, any remaining funds must be returned within 30 days.

Confidentiality:

Both parties agree to maintain the confidentiality of any non-public information shared during the course of this Agreement.

Repayment:

By accepting the funds, you understand this is not a grant but a repayable loan. You must make repayments based off your sales. These must occur within the calendar YES year, the same year you received the funds.

By accepting the seed funding, you acknowledge that you have read, understood, and agreed to abide by these terms and conditions. This Agreement represents the entire understanding between the parties and supersedes any prior agreements or understandings, whether written or verbal.