The purpose of this Policy is to establish an effective and transparent procedure within the Company that ensures the immediate, fair, and consistent handling of Client complaints, as well as their recording. Additionally, the aim of implementing such procedures is to enhance Client satisfaction, identify and address systemic issues, and improve the Company's reputation and Client trust.
This Policy applies to all Client complaints related to the Services provided by the Company to its Clients. It encompasses the receipt, registration, handling, response to, and recording of complaints. The Policy does not cover complaints submitted by individuals, organizations, or other entities that are not Clients of the Company, nor does it address issues not directly related to the Company's operations and the Services it provides. This Policy has been developed in accordance with Regulation No. 2020/1503 and the Commission Delegated Regulation No. 2022/2117 concerning the requirements, standard formats, and procedures for complaint handling.
Policy — This Client Complaint Handling Policy.
Platform — A publicly accessible internet-based website with the domain name www.digilo.co, managed by the Company, through which the Company provides its Clients with Services.
Regulation No. 2020/1503 — Regulation of the European Parliament and of the Council (EU) 2020/1503 on European crowdfunding service providers for business, amending Regulation (EU) 2017/1129 and Directive (EU) 2019/1937.
Commission Delegated Regulation No. 2022/2117 — Commission Delegated Regulation (EU) 2022/2117, adopted on July 13, 2022, which supplements Regulation (EU) 2020/1503 of the European Parliament and of the Council with regard to regulatory technical standards specifying the requirements, standard formats and procedures for complaint handling.
Services — The crowdfunding services provided by the Company, specifically the matching of Client business financing and investment interests on the Platform, which facilitates the provision of loans.
Clients — Project owners to whom the Company provides or intends to provide Services, as well as any potential or actual investor who has created a client profile on the Platform with the intention of investing in the crowdfunding projects hosted there.
The use of other terms and abbreviations conforms to the terms used in the Regulation No. 2020/1503.
Clients have the right to submit complaints to the Company regarding its activities and the Services provided. This generally involves notifying the Company of dissatisfaction with the received Service, the Platform’s operation, or any other Company activity or inactivity, aimed at resolving a particular situation or systemic issue that concerns the Client but may also affect a broader range of the Company's Clients.
The Company accepts, processes, and reviews Client complaints free of charge. However, the Client is responsible for all expenses related to preparing and supplementing the complaint, obtaining evidence, certification, and other associated costs, if any.
The Company reserves the right at any stage of the complaint review process to request a translation or any other document from the Client, including documents submitted as written evidence or supporting representation, notarization. The Client must provide notarized documents requested by the Company as soon as possible, but no later than 30 (thirty) days from the request. The Company may extend the complaint review period for the time it takes to receive documents from the Client.
The Company has the right to request additional information and/or documents from the Client to substantiate the facts and circumstances indicated in the complaint. The Client must submit the requested information/documents or provide reasons why the requested documents cannot be submitted, no later than 30 (thirty) days from receiving such a request. The Company may extend the complaint review period for the duration it takes to receive documents from the Client.
If the Client fails to provide the requested information and/or documents for any reason following the Company's request as per Sections 3.3 and 3.4 of this Policy, the Company will review the complaint to the extent possible, while the review may be limited due to the lack of essential evidence or information needed to assess the validity of the complaint.
For the purposes of reviewing complaints, the Company is also entitled to obtain and/or verify information and documents from available information sources. The costs associated with obtaining and verifying such information are covered by the Company’s funds.
The Company consistently evaluates Client complaints and makes decisions accordingly; that is, under identical factual and legal circumstances, the Company makes the same decisions, whereas different factual or legal circumstances result in different decisions.
The Company's actions in evaluating Client complaints and making decisions must comply with legal norms, interpreting these norms to achieve the fairest and most beneficial possible outcome.
Client complaints must be submitted to the Company electronically by sending them to the Company's email: support@digilo.lv or through the Platform after authenticating in the Client's account. Clients may also submit complaints in paper format by mailing them to the Company's registered address.
The Client must ensure that the complaint meets the following prerequisites (admissibility criteria):
Complainant: The complaint must be submitted personally by the Client or their representative, as specified in Policy Section 4.4.
Written submission: The Client prepares the complaint in Latvian or English, in writing, using the form “Complaint Submission” (see Policy Appendix), which is available to Clients on the Platform.
Absence of significant deficiencies: The complaint must not have significant deficiencies, especially those that affect its clarity and comprehensibility, as a result of which the Company cannot substantively review the complaint. For example, if in the case of a handwritten complaint the handwriting is illegible, in the case of an electronic document – the file is corrupted, its format is unrecognizable, or if the subject of the complaint – the Company's action or inaction for which the Client wishes to submit a complaint – is not described.
Signature: The complaint must be signed, except in cases when it is submitted via the Platform after Client account authentication. If the document is prepared and submitted in paper form, it must be signed with a handwritten signature. The Company accepts electronically signed complaints sent via email if they are in the European Union eDocument standard format (ASiCE) signed, recognized, and the specific Client concurrently submits a validity confirmation of the electronic signature obtained from the official European Union website: https://ec.europa.eu/cefdigital/DSS/webapp-demo/validation or from another website, specifying this address where the Company may need to verify the electronic document.
Policy compliance: The complaint must comply with this Policy.
When filling out the "Complaint Submission" form, the Client must provide all the information requested therein, which must be true and current. In addition, the Client attaches written evidence (original documents, their copies, screenshots, photographs, printouts from information systems, etc.), which substantiate the subject of the complaint and the existence of the related facts. This information is also provided by the Client in Latvian or English, or the Client submits the original document in another language and attaches a translation in one of the mentioned languages.
If the Client submits the complaint through a representative, the complaint must be accompanied by a document certifying representation (a power of attorney or other document) that confirms the representative's rights and specifies the scope of these rights.
The Company values initiative, aims to listen to Clients, and seeks the best possible resolution. Therefore, Clients are encouraged to include their views or suggestions for resolving the specific issue in the complaint, or to specify the desired outcome. This information should be included in the “Other comments or relevant information” section of the form “Complaint Submission”.
If the complaint does not meet any of the acceptability criteria specified in Policy Section 4.2, it is rejected as unacceptable, and the Client is informed according to Policy Section 5.2.2. In such cases, the Client who submitted the complaint has the right to correct the errors indicated in the Company’s notification and resubmit the complaint for re-evaluation.
Upon receiving a complaint, the Company immediately registers it in the Client Complaint Register (see Sections 9.1–9.3 of the Policy) and verifies its acceptability according to the criteria specified in Policy Section 4.2.
Within 10 (ten) business days of receiving the complaint, the Company sends a confirmation of receipt in writing to the complainant’s email address specified in the complaint, including the following information:
If the Company determines that the submitted complaint meets the acceptability criteria specified in Policy Section 4.2, the confirmation of receipt will include information about [1] the identity and contact information of the Company representative whom the specific Client – the complainant can contact regarding the complaint, and [2] the deadline by which a decision on the complaint will be communicated to the specific Client – the complainant.
If the Company determines that the submitted complaint does not meet the acceptability criteria specified in Policy Section 4.2, the confirmation of receipt will clearly explain the reasons why the complaint was rejected as unacceptable.
After sending the confirmation of receipt to the Client, the Company continues to process only those complaints that meet the acceptability criteria specified in Policy Section 4.2, evaluating them substantively and making decisions in accordance with the stipulations of this Policy.
The Company ensures that complaints are processed without undue delay, considering their importance and urgency, but no later than 30 (thirty) days from the date of receipt. The Company reserves the right to extend this period if there are valid reasons. In such cases, the Company informs the Client – the complainant about the extension before the initial deadline expires, explaining the reasons for the delay and setting a new decision-making date. The total duration for processing a complaint cannot exceed 60 (sixty) days from the date of receipt.
The Company assesses whether the complaint is clear and complete, particularly whether it includes all relevant information and evidence. If it is determined that the complaint is unclear or incomplete, the Company immediately requests all additional information or evidence needed for a proper evaluation of the complaint from the Client.
For decision-making purposes, the Company thoroughly checks all relevant information and evidence related to the complaint. It also properly informs the complainant about any additional measures taken during the complaint handling process and responds promptly to justified requests for information from the complainant.
After evaluating all circumstances, the Company prepares a written decision that analyzes all issues raised in the complaint and the reasons for the investigation's outcome. If the decision does not satisfy the complainant's request or only partially satisfies it, the decision details the reasons and includes information about available legal remedies, namely:
The Client has the right to file a complaint about the Company's decision with the regulatory authority – the Bank of Latvia, regarding possible violations of Regulation No. 2020/1503 and other applicable regulations. Detailed information about the complaint submission process is available here: https://www.bank.lv/en/about-us/reporting-on-violations
The Client can defend their legal interests by approaching the courts of the Republic of Latvia in accordance with the laws of the Republic of Latvia.
In certain cases, where the Client is considered a “consumer” under the Consumer Rights Protection Law, they have the right to file a complaint with the Consumer Rights Protection Centre. More detailed information is available in the Consumer Rights Protection Law and on the website https://www.ptac.gov.lv/en
The Company promptly informs the Client, who has submitted the complaint, about the decision made, in the language in which the complaint was submitted. The Company provides the Client with detailed information about the decision, including the rationale explaining the circumstances and reasons that formed the basis for the decision.