MONEY MAN WEBSITE AND FUND RULES
These rules (“these rules”) regulate your access, usage and participation in the Money Man SA Fund/s (“the Fund”) and the website known as www.moneymansa.co.za (“the Website”).
By accessing and using the Website and meeting the requirements to participate in the Fund, as provided for in these rules, you agree to be bound by these rules.
The Website is owned and managed by a natural person known as the Money Man SA (“Money Man”). The Fund is managed and controlled, entirely by Money Man and is not managed as a business, no profit is made from the Fund. The Money Man SA conducts the Fund management in his own spare time as a hobby, for fun. This is not what he does for a living, he is not a bookmaker, he does not take and place bets for anyone. Every bet he makes is entirely within his discretion and he does so using licensed sports betting websites.
The purpose of the Fund is to pool money into one fund (although there may be multiple funds running at the same time) by a number of participants who follow Money Man and his sports betting tips. Money Man is by no means a professional in betting on sports but he is passionate about it, hence the reason he does this in his spare time. This started as a means to help his followers understand sports betting better and has built up quite a keen and interested audience following 2 profit-making funds.
The more the Funds participation has grown the more Money Man needs to protect himself and his followers, so below is new rules which will regulate the Website and the Funds from now onwards.
2.1 “content” means any information, data, text, software, music, sound, photographs, graphics, video, messages and tags;
2.2 “downloads” means any software, data, files or content retrieved, viewed, or downloaded by you through your registration to or use of a service;
2.3 “the Fund” means the fund/s controlled and managed by the Money Man. Each Fund will commence on a particular date and terminate on a pre-determined date. The date/s upon which a particular fund commences (“the Fund Commencement Date”) and terminates (the Fund Termination Date”) shall be as provided in the Fund Notice;
2.4 “the Fund Term” starts on the Fund Commencement Date and ends on the Fund Termination Date. Due to multiple funds being managed simultaneously, with each Fund having different commencement dates and terminations dates, it is important for all participants to ensure that they read the Fund Notice relating to the particular Fund they wish to participate in;
2.5 “the Fund Notice” means a written notice detailing inter alia:
2.5.1 the Fund name;
2.5.2 the Fund Commencement Date;
2.5.3 the Fund Termination Date;
2.5.4 the Funds minimum Contribution requirement; and
2.5.5 the maximum Fund Contribution;the Fund Notice shall be sent to anyone interested in participating in a particular Fund prior to their election to participate and it shall be made available on the Money Man website, you may request a copy of the Fund Notice, from Kovi, via email [email protected]
2.6 “intellectual property rights” means any and all rights, title and interest in and to (whether registered or not) any intellectual property, copyright, related rights, patents, trade marks, trade names, designs, know how, trade secrets, inventions, goodwill, source code, meta tags, databases, text, content, graphics as may exist anywhere in the world;
2.7 “Participation” means your act of electing to participate in a Fund in any way including but not limited to e-mailing your intention to participate and providing your full name, contact number, physical address and e- mail address (“Personal Information”) and making payment to the Fund to the Money Man SA bank account;
2.8 “the Money Man Account” means the bank account where all contributions are paid, by participants, wishing to participate in the Fund. The bank account details will be sent to you, upon your request;
2.9 “third party service” means any service or content, whether related or similar to my services, which is provide by Money Man SA in collaboration with a third party, or which is provided to us by a third party to enable Money Man SA to provide the services;
2.10 “total fund amount” means the total amount of funds collected in a particular Fund on the Fund Commencement Date.
2.11 “use” includes but is not limited to accessing, retrieving, downloading, logging on to, contributing to, or viewing a service, and user has a corresponding meaning;
2.12 “I or me or my” means Money Man;
2.13 “you” means the user or participant and any user who registers to a service.
3.1 You are bound by these rules for as long as you use and/or access the Website.
3.2 You are bound by these rules should you elect to participate in the Fund and shall be bound by these rules until such time as the Fund Term terminates.
3.3 Once you elect to participate in the Fund and transfer any amounts to the Money Man SA Account, you are not able to terminate this agreement, and its application to you, until the Fund Term Terminates.
4. Fund Disclosures
4.1 Money Man is a natural person who enjoys, as a hobby, placing sports bets using licensed sports betting websites within South Africa;
4.2 Money Man does not conduct any form of betting in his normal course of business, he has a full time corporate job and only manages the Fund in his spare time.
4.3 Money Man makes bets online with licensed sports betting companies, he does not accept bets from Participants. Money Man does not take any instruction or direction from any of the Participants during the Fund Term. Every bet placed by Money Man is entirely within his own discretion. For the sake of clarity it is recorded that every bet placed by Money Man, using the Fund is placed without any direction, instruction and/or control from a third party. Money Man decides when he will place a bet, if he will place a bet, what sport event he will place a bet on, exactly what the bet will be and how much money to place on any particular bet, for the duration of the Fund.
4.4 Obviously the very nature of sports betting relies on an uncertain outcome and as such the risk associated with the decisions Money Man makes when placing bets, is clear.
4.5 Money Man does not carry out any betting using the Fund for return, he merely carries out the fund betting as a hobby and to build his brand and educate his audience on sports betting.
4.6 Money Man encourages responsible sports betting.
4.7 Money Man does not induce and/or entice any person to participate in any form of gambling nor does he induce and/or entice any person to participate in the Fund.
4.8 Participation in the Fund is entirely within your election and done so entirely at your own risk. By participating in the Fund you accept the risks associated with your participation which include the risk that any contribution you make to the fund may be lost and you will not be paid back any of your contribution.
4.9 Due to Money Man not conducting the Fund outside of his personal capacity, and not charging for fees associated with it, he conducts the fund using a bank account, in his own name and as such he cannot disclose any particulars thereof. It follows that all Participants are required to monitor the Fund and rely on the transparency into the Fund, as recorded on the Website, under the tab with the Funds name, for example “FUND 3” or “SUPER RUGBY FUND”.
4.10 Money Man will endeavor to provide accurate and up to date records of the Fund and its performance to enable Participants to follow the Funds performance.
4.11 Participants shall not be entitled to any interest earned on any amounts in the Fund.
4.12 On closing the Fund, on the termination date, the Money Man shall, publish the final balance in the Fund and Participants shall be paid out accordingly. An example of how the Fund is paid back to participants at termination is set out below:
If you elect to participate and pay R1 000 to the Fund and the Fund closes, on the termination date, with:
4.12.1 a 50% profit then you will be paid:
R500 plus your R1 000 contribution = R1 500;
4.12.2 negative growth, ie a 50% loss then you will be paid: -R500 plus your contribution of R1000 = R500.
5. Participation in the Fund
5.1 Each Fund shall commence on the Fund Commencement Date set out in the Fund Notice and shall terminate on the Fund Termination Date specified in the Fund Notice. It is important to note that there are multiple Funds which run simultaneously and have different Fund T erms.
5.2 In order to participate in the Fund you must follow the following procedure:
5.2.1 email Money Man’s assistant, Kovi ([email protected]) your full name, contact number, email address, the amount you would like to contribute (“your Contribution”) and your bank details;
5.2.2 Kovi will confirm receipt of your email and send you the relevant Fund Notice, depending on which Fund you wish to contribute to. Kovi will then request that you read these rules and reply to her that you confirm that you have read and understood these rules as well as any other detail conveyed to you, in her email, which is relevant to a particular fund.
5.2.3 Once you have done so, you can pay your Contribution into the MoneyMan Account and send the proof of payment thereof to Kovi (before paying any contributions please read 5.3 below regarding the rules on these amounts).
5.2.4 Kovi will email you as soon as your funds reflect in the Money Man’s Account and you will receive confirmation of your participation.
5.3.1 In order to participate in the Fund you must be over the age of 18 (eighteen) and you must contribute an amount equal to or more than the minimum contribution amount, as specified in the Fund Notice. Your Contribution cannot exceed the maximum contribution amount as specified in the Fund Notice. Please note that the minimum and maximum contributions vary from Fund to Fund.
5.3.2 Provided you are between the minimum and maximum contributions provided for in 5.3.1 above, the amount you elect to contribute is entirely within your discretion (although cents will be ignored to keep things simple). The amount you contribute has absolutely no affect on the outcome of the Fund, each participant, participates and receives back, according to their contribution of the Total Fund Amount an example of how this is calculated is set out in 4.12 above.
5.3.3 Your contribution must be paid and must reflect as being received, into the Money Man Account on or before 11pm CAT on the day before the Fund Commencement Date in order to secure your participation in the Fund.
5.3.4 Once you have paid your contribution to the Fund, you shall under absolutely no circumstances, be entitled to request a withdrawal of any amount from the Fund. This is crucial as the performance of the Fund is fixed for a particular period, being the Fund Term, in some instances this can be up to 12 (twelve) months long and it will not terminate any sooner, unless the Money Man is unable to continue to manage it for whatever reason. It is thus crucial that you know and understand the Fund Term, for the Fund you are contributing to.
5.4 Fund Performance
5.4.1 During the Fund Term Money Man shall place sports bets on various sports events, through licenses sports betting websites, using the money collected in the Fund.
5.4.2 Every bet shall be entirely within the Money Man’s discretion there shall be no agreement to limit the amount placed or the bets placed and there shall be no influence on the outcome upon which a bet is placed. This decision rests with the Money Man, only, for the full Fund Term.
5.4.3 Money Man shall record the bets placed, won and lost using the Fund and display this on the Website. He shall also try his best to let his followers know in advance so that Participants can follow the applicable sports events themselves.
5.4.4 Money Man accepts no liability whatsoever on the outcome of the Fund. By placing a contribution into the Fund, you have accepted this risk. No returns are guaranteed.
5.5 Termination of the Fund
5.5.1 The Fund shall terminate on the last day of the Fund Term.
5.5.2 You shall not be entitled to terminate your participation in the Fund, before the expiry of the Fund term. Any such request will be ignored as it affects the entire Fund.
5.5.3 In the event that I am no longer able to continue to manage the Fund I will provide all Participants with 1 (one) weeks notice of the Funds termination. In such a case, the Fund will be closed and dealt with in the same manner as it would be closed and dealt at the end of the Fund Term, as provided for in 5.5.4 below.
5.5.4 On the day following the Fund Termination Date, the Money Man shall share a final report reflecting the Funds final performance over the Fund Term, this will include:
220.127.116.11 Total Contributions from Participants;
18.104.22.168 Total funds reflected in the Fund as at the Fund TerminationDate.
5.5.5 Please note that should you receive more money back from the Fund, than you put in, it is quite likely that you will need to declare this as income to the receiver of revenue. This is your responsibility to declare, not Money Man’s and you hereby indemnify the Money Man from any claim SARS may have against you for any amounts paid to you from the Fund.
6. Website Services
6.1 Outside of the Fund, I also run the Website, below are the terms that govern your use of the Website:
6.1.2 You understand that advertising plays an important role in the provision of the Website and that I will display advertisements and other information as part of the Website Services.
6.1.3 Where I publish or provide content or advertisements as part of a service I do not warrant or guarantee that the content or advertisements are suitable, accurate, reliable or lawful.
6.1.4 I shall not be liable for any loss or damage of any nature incurred as the result of any such interactions, or as the result of the presence of such advertisers on the website.
Suspension or termination of servicesI may suspend, interrupt, change or end any Website service or any part thereof at any time for any reason in our sole discretion without notice to you and without incurring any liability to you. This does not include the Fund, which termination is dealt with in 5.5 above.
Use of the Website and the Fund
8.1 You agree to use these services and participate in the Fund:
8.1.1 in accordance with these rules;
8.1.2 for lawful purposes;
8.1.3 for the purposes for which they are designed.
9. Your information
9.1 When you use the Website or participate in the Fund, if you will provide us with any of your personal information you warrant that all information provided by yourself is true and correct.
9.2 I may treat any misrepresentations by you as a fraudulent act.
10. Intellectual Property
10.1 I retain all intellectual property rights to the content, branding and marks which appear on the Website.
10.2 You will not, unless with my express and written consent:
10.2.1 sell or otherwise transfer any downloads from the Website to any third party;
10.2.2 appropriate the downloads in whole or in part for any other purpose;
10.2.3incorporate the downloads into any other content for any reason whatsoever;
10.2.4You may not reproduce, publish, perform, broadcast, make an adaptation of or sell any copy of any content in respect of which I own the copyright without my consent.
10.2.5 You acknowledge that I own the right, title and interest in and to the services developed and provided by me, the system which provides the services and all software associated with the services as well as all intellectual property rights thereto.
10.2.6 You will retain ownership of any original content that you provide when using the service, including any text, data, information, images, photographs, music, sound, video or any other material which you may upload, transmit or store when making use of our service, however with regards to content which you may upload or make available for inclusion on publicly accessible areas, you grant me irrevocable rights to use, publicly display, publish, reproduce, distribute, broadcast, adapt, modify and promote on any medium.
11. Limitation of our Liability
11.1 You participate in the Fund and use the Website at your own risk.
11.2 I am not liable to you or any other third party for any damages suffered by you or a third party howsoever arising from your registration to, use of or reliance on a service, including but not limited to any damages suffered by you due to:
11.2.1 access to the website or websites linked thereto;
11.2.2 your participation in the Fund;
11.2.3 an interruption of or error in the service including an inability to access the Website;
11.2.4 inaccurate information or unreliable results;
11.2.5 my failure to fulfill obligations as a result of uncontrollable events;
11.2.6 disclosure of your personal information.
12.1 If you breach any of these rules, then I may, without prejudice to any of my other rights and without notice to you:
12.1.1 stop or suspend your use of any services or your participation in the Fund;
12.1.2 terminate this agreement.
You authorise me to communicate with you from time to time about my Website, competitions and the Fund as well as in relation to special offers, discounts, promotions, operational changes and/or new services.
Governing LawThese rules are governed by and construed under the laws of the Republic of South Africa and all disputes and other matters relating thereto shall be determined in accordance with such law.
You hereby consent to the jurisdiction of the Western Cape High Court, Cape Town.
16.1 These rules constitute the whole of the agreement between us and yourelating to the matters dealt with herein.
16.2 No undertaking, representation, warranty, guarantee, term or condition relating to these rules not incorporated therein will be binding on you or us.
17.1 You select as your address for the purpose of receiving legal process and notices, the address furnished when you register to or start using a service. You will notify us of any change in address.
18.1 Any waiver, indulgence, relaxation or extension of any of these rules will be effective only in the specific instance and for the purpose given.
18.2 No failure or delay on my part in exercising any of my rights will constitute or be deemed to be a waiver.
18.3 No single or partial exercise by us of any of my rights will preclude us from any other or further exercise thereof.
19.1 Each provision of these rules is severable from the other provisions.
19.2 If any provision is found to be invalid or unenforceable, the remainder of these rules will remain enforceable.
20.1 I shall endeavor to protect your privacy as best I can however I do not accept liability for any unauthorised or unlawful disclosures of your personal information made by third parties who are not subject to my control.
20.2 I voluntarily subscribe to the principles outlined in Section 51 of the Electronic Communications and Transactions Act 25 of 2001.
20.3 When you access the website I will receive various information such as the IP (internet protocol) address of the your computer.
20.4 I will use this information to improve the content of the service and you consent to us doing so.