Terms and Conditions

Hisas Alowla for Information Technology — Hissatech Platform

Introduction

By using the platform, you agree to comply with all the terms and conditions outlined below ("Terms and Conditions Policy"). Hisas Alowla for Information Technology reserves the right to modify or change this policy at any time, and the user is bound by those modifications whether they have been reviewed or not. If you do not agree to this policy, you must immediately stop using the platform and refrain from submitting or participating in any requests for the platform's services.

Definitions

  1. 1. Company: Hisas Alowla for Information Technology, an unlisted joint-stock company with commercial registration number (1009078890).

  2. 2. Platform or App: The website (https://hissatech.sa) and the app named "Hissatech" listed on the following app stores: Apple Store, Play Store, and Google.

  3. 3. Platform Services: Refers to the investment opportunities or products offered within the platform.

  4. 4. User: A visitor to the platform or an account holder, whether an investor or otherwise. 5. Terms and Conditions Policy: This policy governing the use of the platform.

  5. 6. Platform Email: The company's email for receiving inquiries and complaints: [email protected].

  6. 7. Personal Data: Information related to the individual providing it, including but not limited to: name, nationality, electronic identifier, contact numbers and addresses, bank account numbers, and other provided information.

  7. 8. Related Sites: Links, pages, or sites owned or operated by third parties other than the company. 9. Third Party: Any party other than the platform or the user.

  8. 10. System or Systems: Refers to the laws and regulations in force in the Kingdom of Saudi Arabia. 11. Notice or Written Notice: Includes any written notice, whether through email, approved communication platforms, or the email addresses or numbers entered on the platform, or traditional written notices sent to the addresses entered on the platform.

Platform Definition

Hissatech is an electronic platform licensed by the General Real Estate Authority, enabling individuals to own shares in income-generating real estate entities through a fractional ownership model, allowing anyone to start their investment journey at an affordable cost.

Electronic Communications

When you use any of the platform's services or send us emails, you are communicating with us electronically, and we will communicate with you electronically through various means, such as email, text messages, or internal platform notifications. For contractual purposes, you agree that all agreements, notices, disclosures, or other communications we send to you electronically satisfy any legal requirement that such communications be in writing, unless applicable laws specifically require a different form of communication.

How the Platform Works

The platform allows users to invest in income-generating real estate entities to benefit from periodic returns and capital appreciation by offering opportunities through the platform and receiving investment requests from subscribers after filling out the subscription form on the platform.

User Obligations

  1. When using the platform or its services, you agree to the following:
    • 1. You are responsible for maintaining the privacy and restricting access to your account and password, and you agree to take responsibility for all activities that occur under your account and password.
    • 2. You agree to notify the platform immediately of any unauthorized use of your password or account or any breach of the safe use standards of the site.
    • 3. You must provide complete, true, accurate, and up-to-date information about yourself and your use of the services.
    • 4. You must not disclose to third parties (except as required by law, a court order, or as specified by the platform) any personal information provided to you, and you must comply with relevant regulations such as the Personal Data Protection Law.
    • 5. You must cooperate with requests from the platform to obtain necessary information or documents for using the platform's services.
  2. When using the platform or its services, the user agrees not to engage in any act or omission that violates any applicable laws or regulations.

Intellectual Property Rights

The platform contains information and materials protected by intellectual property rights, including but not limited to trademarks, copyrights, and database rights, as well as content and materials listed on this platform, including but not limited to trademarks, graphics, illustrations, text, images, software, digital downloads, audio and video clips, or any combination thereof. All materials, information, and content mentioned in this section are the exclusive property of Hisas Alowla for Information Technology and are protected by trademark, copyright, database rights, and other applicable laws.

Platform Registration and Account Creation

  1. During the registration process on the platform or any of its applications, the user is required to:
    • 1. Provide accurate, true, up-to-date, and complete information, and keep this information updated to ensure it remains accurate, true, up-to-date, and complete.
    • 2. The user or any third party is responsible for any consequences resulting from any transactions if it is found that the information provided is false, misleading, or in violation of the laws and regulations in force in the Kingdom of Saudi Arabia, without any liability on the platform or its management.
    • 3. The user must access the platform and download its app through legitimate and lawful means on the internet, and the platform or its management is not responsible if the user acts otherwise.
    • 4. The user authorizes the company or the platform to request their registered information from government or private entities to assist the platform in performing its duties, and all such information obtained shall be owned by the company and handled in accordance with the laws and regulations in force in the Kingdom of Saudi Arabia.
  2. The user must meet all other legal requirements and ensure their continued compliance to use the platform according to the purposes intended by the platform from time to time.

Updates to the Terms and Conditions Policy

  1. 1. The platform's operations are subject to continuous change, so the Terms and Conditions Policy may be affected and need to be updated to align with future circumstances. The updated version of this Terms and Conditions Policy will be published on the app and will remain effective from the date of publication or as determined by the platform.
  2. 2. The user must regularly check the Terms and Conditions Policy, and continued use of the platform after any changes constitutes implicit acceptance of the modified Terms and Conditions Policy.

Legal Obligations for Accessing the Platform

  1. Access to the platform is through the electronic app listed in the official app stores of electronic devices, and the platform's management is not responsible for any damage resulting from unauthorized access or unofficial methods.
  2. Access to the platform must be through the specified methods, and no validity or recognition is given to any access through other means:
    • 1. The app operating on Android systems, available through the Google Play Store under the platform's official account named Hissatech.
    • 2. The app operating on Apple iOS systems, available through the Apple App Store under the platform's official account named Hissatech.
    • 3. Access to the official website through the link https://hissatech.sa.
  3. The platform is not responsible for any modified or unauthorized versions of the app or similar websites, nor is it responsible for any damages resulting from using apps from sources other than those specified above.

Services Provided

  1. 1. The platform, represented by its management or through any party it chooses, assists in providing the necessary support through the specified channels for any of the parties involved in the operations organized by the platform, and seeks to resolve any technical issues that may arise regarding any of those operations.
  2. 2. Technical support for the platform and its app is provided through the email [email protected] or through the official social media accounts, and no validity or recognition is given to other accounts. The platform's management also clarifies communication methods through its various pages.
  3. 3. Failure by the user to provide some or all of the necessary information for registration on the platform may result in the unavailability of some of the platform's services and its app.

Prohibitions on Platform Use

The platform is intended only for use according to the purposes for which it was created, and the user may not use the platform for purposes other than those specified by the platform. The user agrees to the following obligations: 1. Not to modify, copy, distribute, or reproduce any information, materials, software, products, or services available on the platform without the prior written consent of the company, and not to use such information, materials, products, or additional services in personal publications. 2. Not to use any information obtained through the platform for any purposes other than those specified in these Terms and Conditions. 3. Not to infringe on the intellectual property rights of the platform or the intellectual property rights of others. 4. Not to harass, abuse, insult, harm, defame, slander, discriminate, or threaten any user, the company, or its affiliates. 5. Not to upload or transfer any type of virus or malicious software that could be used in any way to affect the platform. 6. Not to use the platform to engage in any form of prohibited, illegal, or criminal transactions under the laws and regulations in force in the Kingdom of Saudi Arabia, including but not limited to: the Anti-Terrorism Law, the Anti-Money Laundering Law, the Penal Code for Forgery Crimes, and the Law on Impersonation of Public Officials, and the platform or its management is not responsible for any consequences towards any party or entity, nor is the platform responsible for any activities or information provided or exchanged by third parties through the platform. 7. The user may not allow a third party to use their account on the platform, and the user is responsible for any obligations or compensation resulting from such use by a third party.

Confidentiality and Data Protection

  1. 1. In accordance with the privacy policy, all personal, commercial, and confidential information, as well as any other information obtained by the user through the platform and its app, is highly confidential. All users are obliged to maintain the confidentiality of this information and are prohibited from disclosing or sharing it with any third party. Each user is fully responsible for any activity conducted using their username and password.
  2. 2. The Personal Data Protection Law applies to all transactions conducted through the platform and all transactions involving personal data or transactions that lead to the disclosure of personal data, directly or indirectly.

Related Sites

  1. 1. The platform may include links to pages or sites owned or operated by third parties, over which the company or the platform has no control regarding their content, terms of use, or policies.
  2. 2. The platform's management may itself or through third parties publish or republish content related to the platform's uses, without assuming any responsibility for the content displayed or its suitability for any purpose.
  3. 3. The presence of related sites on the platform does not imply the company's or the platform's endorsement of the content, advertisements, products, services, or other materials provided by those sites or pages.
  4. 4. The company and the platform are not directly or indirectly responsible for any damages or losses resulting from the use of or reliance on such content, advertisements, products, services, or other materials provided by related sites, and the user should contact the administrators or operators of those related sites regarding their pages and sites.

Platform Security

  1. 1. Any user is prohibited from hacking or attempting to hack the security or security system of the platform.
  2. 2. The user agrees to notify the platform's management immediately upon becoming aware of any unauthorized use of their account.
  3. 3. The user is fully responsible to the platform, the company, or any third party for any damages resulting from hacking or attempting to hack the platform's security or security system.

Liability

  1. 1. The user is responsible for compensating for any damage or loss resulting from a breach of any clause of the Terms and Conditions Policy.
  2. 2. The platform's management reserves the right to hold any party or entity liable and seek compensation for any harmful or destructive actions.
  3. 3. The user acknowledges that the company or the platform has the right to disclose the user's information when necessary to enforce this Terms and Conditions Policy or comply with the laws and regulations in force in the Kingdom of Saudi Arabia or in response to a request from the competent judicial or executive authority.

Geographical Limits of Use

  1. 1. The company or the platform does not guarantee that the content provided on the platform is suitable for use outside the borders of the Kingdom of Saudi Arabia, and access to the provided content may be illegal or in violation of the law in some countries.
  2. 2. The user agrees to comply with the laws of the country they are in while using the platform, and if the user accesses the content from a country other than the Kingdom of Saudi Arabia, they bear all damages or losses resulting from the potential illegality of the content in that country.

Applicable Law and Disputes

  1. 1. These terms and conditions are subject to the relevant laws and regulations in force in the Kingdom of Saudi Arabia.
  2. 2. In the event of any dispute arising from these terms and conditions, the competent courts in the city of Riyadh shall have jurisdiction to hear and decide on the matter.

Invalidity

If any provision of these Terms and Conditions Policy is found to be invalid or unenforceable, it shall not affect the remaining provisions. If a part of any provision is found to be invalid, the remaining part of that provision shall remain enforceable to the extent that it does not include the invalid portion.

General Provisions

  1. 1. This Terms and Conditions Policy, along with any other policies or agreements published by the company or the platform or signed with them regarding the use of the platform, represent the rules governing the use of the platform. Only the platform is authorized to modify, add, or delete these terms.
  2. 2. The most recent updated version of the Terms and Conditions Policy shall always be the primary reference when referring to the terms and conditions in any other context.
  3. 3. In the event of any ambiguity or lack of clarity in any text or clause of this Terms and Conditions Policy, the company alone is authorized to interpret it, in accordance with the laws and regulations in force in the Kingdom of Saudi Arabia.