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Terms & Conditions

Last Revision: October 11, 2023

AGREEMENT TO TERMS

These Terms and Conditions of Use (the "Terms of Use") apply to the iCovest Market web site located at www.icovestmarket.org, and all associated sites linked to www.icovestmarket.org by iCovest Market, its subsidiaries and affiliates, including iCovest sites around the world (collectively, the "Site"). The Site is the property of iCovest Group (hereinafter, “iCovest“) and its Members.

 

These Terms of Use constitute a legally binding agreement made between you, whether personally or on behalf of an entity (“you”) and concerning your access to and use of the Site and the Services. You agree that by accessing the Services, you have read, understood, and agree to be bound by all of these Terms of Use. BY USING THE SITE, YOU AGREE TO THESE TERMS OF USE; IF YOU DO NOT AGREE, DO NOT USE THE SITE.

iCovest reserves the right, at its sole discretion, to change, modify, add or remove portions of these Terms of Use, at any time. It is your responsibility to check these Terms of Use periodically for changes. Your continued use of the Site following the posting of changes will mean that you accept and agree to the changes. As long as you comply with these Terms of Use, iCovest grants you a personal, non-exclusive, non-transferable, limited privilege to enter and use the Site.

The care and maintenance of your body is 100% your responsibility.  As a participant of iCovest.org (aka iCovest.com); iCovestMarket.org (aka iCovestMarket.com), iCovest.Academy (collectively hereinafter, “iCovest“) you are accepting 100% responsibility for the effect these products might have upon your health.  The statements on iCovestMarket.org have not been evaluated by the Food and Drug Administration (FDA).  These products are not intended to diagnose, treat, cure, or prevent any disease.

​iCovestMarket.org offers information on this Website for informational and educational purposes only and does not provide you with advice or a recommendation of any kind.  iCovestMarket.org is not a medical practice and does not provide medical care, services, or advice. The information on this Website is not a substitute for, nor does it replace, professional medical advice, diagnosis, or treatment.  Always consult with a physician or other qualified health-care professional for questions about your health.  Do not disregard, avoid, or delay obtaining medical-related or health-related advice from a healthcare professional because of something you have read on this Website.

​The use or reliance of any information on this Website is solely at your own risk. The Website and the content on it are provided on an “as is” basis.  No assurance can be given that the information contained on this Website will always include the most recent findings or developments in the fields under discussion.  iCovestMarket.org does not recommend or endorse any specific treatment, medication, tests, physicians, products, procedures, opinions, or any other information that may be included on this Website.

​Statements and opinions included on this website are subject to change.  iCovestMarket.org is independent of their Members, Manufacturers and/or Affiliates, and the statements on this website are not necessarily representative of the views of the Members, Manufacturers and Affiliates.

The information contained on this site is provided for informational purposes as a service to the public as part of the mission of the iCovest and does not constitute legal or tax advice.  Legal Information is not the same as Legal Advice. Some of the information on this site and corresponding emails provide information about law designed to help users safely cope with their own Faith Based Organization needs.   The application of law varies depending on many circumstances. The laws of every state are in constant change, and although we go to great lengths to make sure our information is accurate and useful, we recommend you consult a lawyer if you want professional assurance that this educational information, and your interpretation of it, is appropriate to your particular situation.

 

ACCESS TO THIS WEBSITE IS PROVIDED FOR INFORMATIONAL PURPOSES ONLY AND WITHOUT ANY WARRANTIES, EXPRESSED OR IMPLIED, REGARDING THE ACCURACY, COMPLETENESS, TIMELINESS, OR RESULTS OBTAINED FROM ANY INFORMATION POSTED ON THIS WEBSITE OR ANY THIRD PARTY WEBSITE REFERENCED HEREIN.

LAWFUL DISCLAIMER

While we work to ensure that product information is correct, on occasion manufacturers may alter their ingredient lists. Actual product packaging and materials may contain more and/or different information than that shown on our Web site. We recommend that you do not solely rely on the information presented and that you always read labels, warnings, and directions before using or consuming a product. For additional information about a product, please contact the manufacturer. Content on this site is for reference purposes and is not intended to substitute for advice given by a physician, pharmacist, or other licensed health-care professional. You should not use this information as self-diagnosis or for treating a health problem or disease. Contact your health-care provider immediately if you suspect that you have a medical problem. Information and statements regarding dietary supplements have not been evaluated by the Food and Drug Administration and are not intended to diagnose, treat, cure, or prevent any disease or health condition.  iCovestMarket.org assumes no liability for inaccuracies or misstatements about products.

 

Actual product packaging and materials may contain more and different information than what is shown on our website. We recommend that you do not rely solely on the information presented and that you always read labels, warnings, and directions before using or consuming a product.

DISCLAIMER & INDEMNITY AGREEMENT for BONA FIDE MEMBER iCOVESTORS, IVA HOLDERS, iCOVEST SPONSORING ASSEMBLIES, SDIRAs and/or ANY NON-BANK P2P EXCHANGES

This Disclaimer and Indemnity Agreement pursuant to your Relationship and Royalty Sharing Covenant, will confirm our mutual understanding and agreement regarding any CoVestments made to and/or from your iCovestMarket.org Account (hereinafter the, “Account“) in application toward any above-named entity(-ies).  The exchange that can be leveraged referred to in this document (as the “Account”), may be legal tender, credit, or a retirement account under Internal Revenue Code (the “IRC”) §401 or §408 as the case may be  Your agreement must be acknowledged prior to making any CoVestment (Cooperative Vesting in Trust) directly or by Account leveraged assignment as an iCovestment (ICO Vesting in Trust) hereinafter (“CoVestment” and/or “iCovestment” as the case may be).

  1. You understand and agree that the administrator for your Account (including, but not limited to the iCovest F.B.O. a.k.a. iCovest Group, or any agent, affiliate or designee of the iCovest Group) does not approve CoVestments and/or iCovestments, or actions you personally take or self-direct the iCovest Group to take for or on behalf of your Account.  The iCovest Group is limited in its responsibilities under your Account, and its responsibilities do not include CoVestment selection.

  2. You understand and agree that the iCovest Group does not review and approve subscription agreements, operating agreements, by-laws, limited or general partnership agreements, or any other similar agreements regarding the acquisition or operation of any entity you want your Account to CoVest / iCovest with.

  3. You understand and agree that you are solely responsible for making sure that the entity was not formed, and will not operate in a way that does or may lead to a prohibited transaction under IRC §4975.

  4. You understand and agree that if the entity your Account is CoVesting with becomes a “disqualified person” (as that term is defined in IRC §4975) upon funding (this may occur, for example, if your plan and other disqualified persons, including you personally, own more than 50% of the entity), then any future mandatory capital calls may be considered to be a prohibited transaction under IRC §4975.

  5. By CoVesting in exchange on this website, this Disclaimer and Indemnity Agreement applies by your act of contribution in acquiescence to signify that you agree to indemnify and hold harmless, the iCovestor, iCovest Group and its respective officers, directors, shareholders and employees against any liability associated with CoVesting in the identified entity, including funding a capital call, and including any liability that arises because the CoVestment is or may be a prohibited transaction under IRC §4975.

  6. You understand and agree that the iCovest Group has given you no tax advice regarding the possibility that your Account may be subject to Unrelated Business Income Tax (UBIT) as a result of its CoVestment in the identified entity.  If your Account owes UBIT on its profits from the entity, you agree to prepare or cause to be prepared and filed an IRS Form 990T, and any similar filing required under applicable state laws, for each year with respect to which any such form is required, and to cause your Account to pay any UBIT that is reported in such forms.  You understand and agree that any UBIT owed must come from funds belonging to the Account.  Your agreement to indemnify and hold harmless, as set forth in Paragraph 5 above, includes liability of the parties named therein with respect to UBIT and the preparation and filing of IRS Form 990T and similar state tax filings.

  7. You agree and understand that the iCovest Group is not required under Title 26 U.S. Code § 508c(1)a to report the fair market value of the Account to the Internal Revenue Service each year.  As it applies, you agree therefore, to obtain a fair market value for the Account’s CoVestment in the entity as of December 31 each year and report this information no later than January 15 of the following year.  You understand and agree that the iCovest Group is entitled to rely on the valuation provided by you for reporting purposes and shall bear no responsibility as to the accuracy of the information provided.  You understand and agree that until a different valuation is reported to the iCovest Group, the value of the CoVestment in the entity will be reported based on the Account’s total CoVestment in the entity.  You understand and agree that if you fail to provide a fair market value to the iCovest Group as required, the iCovest Group may withdraw as administrator of your account and distribute the asset to you or to a successor custodian/trustee.

  8. You represent that you understand that with some types of accounts there are rules for required minimum distributions from the account.  If you are now subject to the required minimum distribution rules for your Account, or if you will become subject to those rules during the term of the CoVestment, you represent that you have verified either that the entity that your Account is CoVesting / iCovesting in provides distributions that will be sufficient to cover each required minimum distribution, or that there are other assets in your Account, or in other accounts that you may access for this purpose, that are sufficiently liquid (including cash) from which you will be able to withdraw your required minimum distributions as they become required.

  9. You represent that you have done your own due diligence on the entity you want your Account to CoVest / iCovest with.

  10. You understand and agree that the iCovest Group does not make any attempt to evaluate the entity you want your Account to CoVest / iCovest with.  For example, they make no attempt to check the financial strength of the entity, nor do they check with the Secretary of State to see if the entity is in good standing, nor do they check with the Securities and Exchange Royalty, the Better Business Bureau or any other governmental or non-governmental agency to see if any complaints have been filed against the entity.  You, as the steward of the Account, are 100% responsible for evaluating the entity, its operations and the CoVestment potential of the entity, including taking the steps described in the preceding sentence.

  11. You understand and agree that you are also responsible for confirming that none of the “disqualified persons” with respect to your Account are associated in any way with the entity you want your Account to CoVest / iCovest with.

  12. You understand and agree that the iCovest Group and their Member Beneficial Interest Unit (“BIU“) holders, officers, directors, shareholders, employees, agents or affiliates have not given you any CoVestment, legal or tax advice pertaining to this CoVestment.

  13. You understand and agree that if the Plan Asset Regulations issued by the U.S. Department of Labor apply, the entity is disregarded for purposes of the prohibited transaction rules of IRC §4975.  In that case, the underlying assets of the entity are considered to be the assets in which your Account is CoVesting, and each of the statements above regarding the entity must be true with regard to each of the assets that the entity CoVest / iCovest in.  You represent that you either understand the Plan Asset Regulations and Interpretive Bulletin 75-2 or that you have sought competent legal counsel regarding the Plan Asset Regulations and Interpretive Bulletin 75-2 and their potential application to the entity that you want your Account to CoVest / iCovest with, prior to making your CoVestment decision.

  14. You understand that you alone are responsible for making 100% of all self-directed co-vestment decisions.

  15. By accessing any portion of iCovestMarket.org (the, “website”), the user acknowledges in acquiescence to all terms and conditions of iCovest and iCovest Market faith based organizations, and agrees to the Relationship and Royalty Sharing Covenant ("RRSC") of our integrated auxiliary F.B.O. User also concedes in agreement that the terms of their contemplated exchange under RRSC in fact supersedes any commercial terminology or reference which may be misrepresented by rule of necessity via any third party application which is currently integrated with this website for the settlement and charitable exchange of like kind value(s). As such, no unavoidable commercial representation on this website shall contravene our declared status under 508c(1)a; nor shall any exchange be construed as an act of engaging in any activity perceived under U.B.I.T. (i.e. paying, buying, selling, hiring, employing, etc).

iCovest Group Disclaimer & Indemnity Agreement (v.20230101-DIA)

*  The acquisition of royalties pursuant to this agreement is not exclusive and is limited in scope and term.  The rights of the iCovestor under iCovestor’s RRSC made in agreement are subject to restrictions on transferability and/or resale.

** iCovestor’s RRSC is pursuant to the latest version of this agreement simultaneously published at iCovestMarket.org, iCovest.Academy & iCovest.org websites.

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