The farm sponsor is entitled to receive periodic reports of the progress of the farm via email and on the sponsor’s profile on the platform.
The farm sponsor may periodically request that a physical visit to the farm should be scheduled.
Profit on the farm is remitted to the electronic wallet on the Farmcrowdy platform when the produce is harvested and sold (i.e. upon completion of the farming cycle).
At the end of the farming cycle, the farm sponsor has the right to decide whether to withdraw profits from the electronic wallet on the Farmcrowdy platform and transfer to the bank account provided by the farm sponsor or to sponsor a farm for a new farming cycle.
At harvest, profit from the farm harvest will be shared between the farm sponsor, the farmer and Farmcrowdy. The farm sponsor is entitled to 40% of the profit from sale of the farm produce. Another 40% of the profit goes to the farmers and the remaining 20% is used to pay the cost of supervision and administration by Farmcrowdy.
The farm sponsor at the beginning of the farming cycle should pay the costs related to the lease of land for farming, seedling/livestock, fertilizers, maintenance costs, and the cost of supervision and administration in which all of these costs are already included in the investment fund.
The farm sponsor agrees that the money paid for a farm is for the agreed contract period and is not payable by Farmcrowdy until the completion of the farming cycle.
The farm sponsor should thoroughly review all notifications, updates and reports from Farmcrowdy as they represent a record of information pertaining to the investment made on a farm for the agreed contract duration.
The farm sponsor is required to provide up-to-date and accurate information as requested by Farmcrowdy.
The farm sponsor understands that they are renting the farm land for purpose of Farmcrowdy to use to farm on their behalf. At the end of the farm-cycle, the farm becomes the property of Farmcrowdy to make available to other farm sponsors.