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Recommended Language: How to Communicate TigerMark
How to Communicate TigerMark as a Partner
Recommended Language
How to Include TigerMark Within Issuer Agreement
Below find the recommended language to use when creating agreements for Issuers nd the warranty/discloser requested by Assurely that requires the Issuers signature.
Language to embed into client agreement:
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Customer acknowledges and agrees that part of the fees received by [insert platform name] shall be paid on the behalf of Customer to World Trade Labs, Inc. d/b/a Assurely, the Program Administrator for the insurance product TigerMarkTM for the purchase of such insurance for Customer. TigerMark is an insurance policy which pursuant to its terms, conditions and exclusions can cover claims made against the Customer, its directors, officers and employees and other insureds for covered claims arising out of the offering of securities in connection with the Customer’s campaign. For more information about the TigerMark insurance policy, go to [insert platform specific splash page]. To determine the amount of the fees paid to Assurely as premium for TigerMark, go to [insert platform specific splash page]. [insert platform name] is not an insurance broker and is not compensated for the purchase of TigerMark. Insurance is conditioned upon final underwriting by Assurely.
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Customer acknowledges and agrees that part of the fees received by [insert platform name] shall be paid on the behalf of Customer to World Trade Labs, Inc. d/b/a Assurely, the Program Administrator for the insurance product TigerMarkTM for the purchase of such insurance for Customer. TigerMark is an insurance policy which pursuant to its terms, conditions and exclusions can cover claims made against the Customer, its directors, officers and employees and other insureds for covered claims arising out of the offering of securities in connection with the Customer’s campaign. For more information about the TigerMark insurance policy, go to [insert platform specific splash page]. To determine the amount of the fees paid to Assurely as premium for TigerMark, go to [insert platform specific splash page]. [insert platform name] is not an insurance broker and is not compensated for the purchase of TigerMark. Insurance is conditioned upon final underwriting by Assurely. [Insert Issuer Name] will have the right to decline to purchase the TigerMark insurance policy before the offering commences.
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Customer acknowledges and agrees that during the onboarding process Customer will have an opportunity to include the TigerMarkTM insurance product. TigerMark is an insurance policy which pursuant to its terms, conditions and exclusions can cover claims made against the Customer, its directors, officers and employees and other insureds for covered claims arising out of the offering of securities in connection with the Customer’s campaign. If Customer elects to include TigerMark, part of the fees received by [insert platform name] shall be paid on the behalf of Customer to World Trade Labs, Inc. d/b/a Assurely, the Program Administrator for the insurance product TigerMarkTM for the purchase of such insurance for Customer. For more information about the TigerMark insurance policy, go to [insert platform specific splash page]. To determine the amount of the fees paid to Assurely as premium for TigerMark, go to [insert platform specific splash page]. [insert platform name] is not an insurance broker and is not compensated for the purchase of TigerMark. Insurance is conditioned upon final underwriting by Assurely.
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However, [insert platform name] may be compensated to the use and licensing of its intellectual property in connection with the Tigermark program.
As a condition of the purchase of the insurance, Assurely requests that the below warranty/ disclosure is certified via signature - electronic signature is sufficient - by the Issuer (insured) before they:
Communicate to investors that they have selected and agreed to purchase the TigerMark insurance program
Before their offering commences
The Issuer hereby represents and warrants that all information provided to the platform and the SEC is true and accurate.
The Issuer (insured) Understands and confirms that:
A TigerMark insurance policy will be issued and become effective upon the successful raising of the minimum offering where monies are released from ESCROW and the insurer being paid the premium from escrow. For more information, including your premium and a policy specimen, visit https://ch8gsoxb.paperform.co
The information provided to the platform and the SEC is true and accurate and is being relied upon by the insurer in the underwriting of the insurance policy. (State Warnings: https://www.assurely.com/state-applicant-fraud-warnings).
If information changes between today and the date [money is released to the issuer from ESCROW], the insurer has the right to withdraw its quote or modify the terms or premium of the policy.
[signature/date of issuer]
Please note: TigerMark™ warranty/ disclosure language may be embedded into other Issuer confirmation/ disclosure language the platform communicates as part of their agreement with the Issuer.
How to Educate Issuers on Including TigerMark™ on Offering Pages
At the moment, we recommend all references to the insurance policy appear on the Issuer’s offering pages.
For Regulation CF issuances- all references to TigerMark™ are to be restricted to the Issuer pages only.
It is recommended that on the Issuer Page on the Platform, the Issuers identify that they have applied for the TigerMark™ insurance policy and been accepted by Assurely subject to successful funding.
It is suggested to clearly communicate this statement to Issuers and encourage them to display the following recommended language on their landing pages:
“The issuer is insured by the TigerMark™ insurance policy”
“[ISSUER] is insured by the TigerMark™ insurance policy”
“[ISSUER}’s offering is insured by the TigerMark™ insurance policy”
“This issuer’s offering is insured by the TigerMark™ insurance policy”
“[ISSUER] has elected to purchase a TigerMark™ insurance policy”
In every case that TigerMark™ is referenced, including the TigerMark™ logo, a link and/or cross-reference to the to the TigerMark™ insurance policy description is recommended.
Language to Use When Communicating TigerMark™ to Issuers: DO's and DON'Ts
‘DO’ Words/Phrases -
“TigerMark™ is not an investment guarantee and is not insurance for investors.”
“Investors have a specific benefit in the TigerMark™ policy but are NOT insured by the policy.”
“The Issuer, is the insured.”
“The investor has a benefit as part of the TigerMark™ policy.”
“Investors have the opportunity to receive their initial investment returned in the case of a qualifying event which can be found in the TigerMark™ insurance policy summary.”
‘DON’T’ Words/Phrases-
Platform Disclosures will not use terms such as “insured,” “assured,” and “protected” in any context in which a reader could form the impression that the investment is insured (as opposed to the Issuer being insured for covered losses/risks).
Platform Disclosures will not use any form of the term “guarantee” or give the impression either the TigerMark® insurance policy or any investment insured thereby is “guaranteed”.
DO NOT USE the following phrases:
“With the TigerMark™ policy, investors are insured.”
“TigerMark™ offers insurance for investors.”
“With a TigerMark™ policy, investors are guaranteed protection.”
“TigerMark™ will guarantee protection on investors investments.”
“TigerMark™ guarantees coverage for Issuers raising funds on our platform.”
TigerMark Policy Summary for General Information Purposes
If needing to hyperlink the policy summary to necessary parties, please use the following link.
All information within the following summary represents the TigerMark™ policy clearly for individuals requiring more information.
TigerMarkTM is an insurance policy purchased by an issuer which provides coverage for covered claims made against the issuer and its directors and officers from investors who allege they have lost their investment (in part or in whole) due to specified wrongful conduct of the issuer or its management. Some coverage is also provided for the crowdfunding platform in such claims.
Subject to its full term, conditions and exclusions, the policy will provide coverage for claims brought by a crowdfunding investor against an Insured alleging THEFT OF FUNDS or MISUSE OF FUNDS by an Insured, or material intentional MISREPRESENTATION by an Insured in the offering documents, that in any such case led to a loss of some or all of the investor’s investment in the issuer. (Bold words are defined in the Policy.)
The maximum amount a claimant may recover is the total amount of his or her investment in the crowdfunded issuer.
An investor may request confirmation that an issuer has requested the TigerMark policy and the insurer or its agent has agreed to issue the insurance policy to an issuer by emailing such request to InvestorRequest@assurely.com. However, no insurance is effective until the crowdfunding raise is successfully completed, and the insurance carrier has received the full premium for coverage from the issuer or from the ESCROW company or from the platform on the behalf of the issuer.
To report a claim, email claims@assurely.com with the title “TigerMark Claim”.
Like all insurance policies, coverage under the Policy is limited to covered risks and is subject to specific exclusions and other limitations. More information about the exclusions can be found by emailing the program administrator.
WARNING: TigerMarkTM IS AN INSURANCE POLICY WHICH CAN PAY TO AN INVESTOR UP TO 100% OF HIS INVESTMENT IN THE EVENT OF A COVERED CLAIM. IT IS NOT, HOWEVER, A GUARANTEE OF PERFORMANCE OR A GUARANTEE OF INVESTOR RETURN.
WARNING: THE ABOVE IS AN INFORMAL SUMMARY OF THE COVERAGE AFFORDED UNDER THE TigerMarkTM INSURANCE POLICY. IN THE EVENT OF AN ACTUAL CLAIM, THE TERMS AND CONDITIONS OF THE POLICY ITSELF, AND NOT THIS INFORMAL SUMMARY, WILL APPLY.
For additional information, please redirect inquiries to the TigerMark™ webpage.