The following are details on how ACE works for users that are Talent.
All Talent is strongly encouraged to seek out legal, accounting, and other business assistance when participating on ACE.
ACE reserves the right to decline a a request for a capital raise if during initial underwriting or during reoccurring audits, ACE determines the paperwork, staffing, and ability to meet reporting requirements is not in order. ACE makes a best good faith effort to verify all necessary items are in order prior to listing, but does not guarantee or act or as a fiduciary in doing so. ACE shall be fully indemnified by users and held harmless in all cases.
Applicable fees are charged before putting investment funds in a Talent account. ACE and its payment partners will subtract fees before transmitting the proceeds from sale of Talent Co securities.
Some investments can’t be collected, which might reduce the amount of funding the Talent gets and reduces the sale of securities. Because some payments can’t be collected — for instance, when an Investor’s credit card expires before settlement, and they don’t provide updated information — we can’t guarantee that the amount of funding you receive will be exactly equal to securities sold.
This shall be remedied during settlement.
ACE will help resolve payment disputes. If an Investor disputes the charge with their card issuer when purchasing Talent Securities, we'll handle re-presenting the charge to settle the dispute with the card issuer. The Talent will be notified that a dispute has been filed, and the Talent will be able to provide evidence to help us resolve it. If the cardholder’s dispute is found valid, Talent authorizes ACE to charge the credit card number the Talent provided. The shares issued to the Investor shall then be returned to the Talent. This will be settled and recording on the block chain ledger accordingly.
Talent should not assume they will be able to immediately collect and spend investor funding; there may be a delay between the end of a successful offering and Talent access to the funds. And don’t take any actions in reliance on collecting any of the money from investment until you actually have the ability to withdraw it from your account and spend it.
Talent should remember that investment funds can only be used for authorized Factors of Production, directly related to their art and talent, and directly contributing to furthering their commercial success. ACE will require from time to time that Talent demonstrates investor funds are smartly being used, and are in-fact causing new or increased revenue.
Talent is required to report spending and other activities monthly, and are subject to quarterly audits by ACE.
Talent is required to disclose contracts, banking information, provide receipts, and other transaction-related documentation. Failure to disclose information upfront, or lack of sufficient documentation may result in suspension or a hold on a Talent account.