Ensuring offerees’ protection is important to us. For this reason, we have included multiple offerees’ protection instruments in our ICO.
- Our Procure2Pay platform and Smart Contract are real and being commercialised
- The project has received funding support under FSTI POC Scheme
- The company has established a credible Board of Directors with a INVICTUS Blockchain Ombudsman(IBO) in addition to the usual Board Committees to provide oversight on corporate governance and ethical business practices
- A Charter has been formulated and articulated to guide the IBO in the discharge of their duties and responsibilities
Legal Aspects of the ICO
The general regulatory position is that digital tokens are generally not regulated (tokens) unless they can be construed as securities or other regulated financial products under the SFA. As the Finote offered for this ICO is a utility token it does not require registration with MAS or other authorities.
ICO Terms & Conditions
The ICO Terms and Conditions ("T&Cs") form an essential part of an ICO, since they constitute the main binding legal agreement between an offeree and the ICO Issuer. It should be noted that the only legal recourse available to an offeree buying into an unregulated digital token offering are usually the legal provisions found in the commercial agreements entered into between the Issuer and the offeree. Please review T&Cs on the website carefully.
Please be aware that we have our own comprehensive compliance manual in place to comply with requirements in respect of anti-money laundering, corruption and anti-bribery, record keeping and personal data protection.
During the ICO Period, potential offerees will be asked for personally identifiable information upon creating an account on http://invictus.io (the “Website”) to participate in the sale. This information is to ensure compliance with the various laws of Singapore and foreign jurisdictions, as well as the Know Your Customer (KYC) and Anti-Money Laundering (AML) requirements. The data collection process will be automated via a secure software platform, and stored in an encrypted database compliant with applicable data privacy standards. Potential offerees will be asked for:
- Date of Birth;
- Address or Principal Place of Business;
- Identification Number (e.g. tax identification number, passport number); and
- Government Issued Identification Documents; and
- Any other information or documents that may be required under applicable law for KYC/AML.
The provision of information related to the jurisdiction in which the potential offeree resides will dictate their legal requirements for participation in the sale. Prospective offerees from jurisdictions other than Singapore, may be required to provide additional information depending on the KYC/AML requirements in their respective jurisdictions.