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Terms and conditions of sale

General information

 

We ask you to carefully read the following legal information. By accessing the website of Initium Watches Holding SA, you accept these General Conditions of Sale as well as the data protection declaration. Otherwise, do not continue your current order or browse the Initium website. 

Initium Watches Holding SA is the exclusive owner of all data, both on the structure and on the content of the site. In particular, any element contained in the site (images, illustrations, sounds, photos, videos, music, data, logos, etc.) is protected by intellectual property rights and belongs exclusively to Initium Watches Holding SA. Consequently; it is forbidden to reproduce and/or reuse, in any way whatsoever, all or part of the elements contained in the site or received by email without the prior authorisation of Initium Watches Holding SA.

 

General Precautionary Measures for Buying Shares

 

We recommend that inexperienced investors consult a trusted financial expert, especially if the number of shares you wish to acquire is large. Also, note that the Federal Financial Market Supervisory Authority (FINMA) provides support and advice on how to properly assess the offers of individual and unregulated providers. Finally, we remain at your disposal at all times to answer your questions.

 

Discharge of responsibility 

 

Initium and its information providers assume no responsibility for any direct or indirect damage caused as a result of using the website. In addition, Initium does not guarantee that this website is error-free, is not interrupted or that the servers are free of viruses or harmful components.

 

Financial Figures and Projections

 

We certify that all the quantified information available on the site and the investor brochure concerning the performance and results of the Company Initium Creawatch Sàrl during the period 2015-2019 are accurate and in accordance with the Company’s accounts. However, data concerning future performance and results in connection with the development of new offers constitute estimated sales projections. They do not constitute a guarantee of future events, and there is no guarantee that the objectives described will be achieved or that the new offers in question will be commercially successful. Like all the information on the site, this encrypted data can be modified at any time without notifying users beforehand.

 

Access Restrictions to Our Website

 

The Investors tab, as well as the Investors platform of our site, is not intended for people whose access to these parts is restricted or prohibited by the legal system of their domicile or their country of residence. These people do not have permission to access these parts of our website.

 

Disclaimer: Persons domiciled in the United States do not have permission to access these parts under US law. In addition, you certify that you have reached the legal age of majority in your country of residence. Minors do not have the permission to be a shareholder of the Company Initium Watches Holding SA. The legal representative of a minor may, however, acquire shares on behalf of a minor for whom he is responsible. In this case, he must communicate to us in writing the contact details of the person on whose behalf he is acquiring shares.

 

Potential Risks for Investors

 

The occurrence of one or more of the risks described in the risk factors listed below, or of any additional risk of which Initium Watches Holding SA and its subsidiaries are not yet aware or which they do not currently consider to be relevant, may, alone or in combination with other known or unknown risks, have a negative impact on the Company’s economic and financial situation, or even lead to its liquidation. As a result, we advise you not to invest too much of your wealth. The risks set out below should not be taken as an exhaustive list of possible risks. Their order also says nothing about their significance, likelihood or relevance.

 

The General Economic Situation

 

Initium Watches Holding SA and its subsidiaries are subject to general economic and political conditions, such as economic growth, inflation and the attractiveness of sites in terms of national and international competition. A deterioration of the environment or the economic outlook or the political climate is possible at any time. These factors may have an unfavourable impact on the activities of the Company, its financial position and its results.

 

Dependence on Suppliers and Partners

 

The Company works in collaboration with local and international suppliers and partners to produce its products. The Company relies on the quality of the work and the reliability of these partner suppliers. However, it is always possible that some may fail or do not produce the expected quality, which could have a negative impact on the business activities of the Company.

 


Object of the contract and scope  

Types of products

 

Initium offers different types of products, such as:

 

-  Introductory watchmaking courses where, depending on the formula chosen, the customer can assemble and leave with his own watch. In all cases, these workshops include both a theoretical and a practical introduction to watchmaking. Some packages also offer a meal taken in the Company of a master watchmaker in an establishment in the region.

 

-  DIY watch kits at home. They include all the equipment and instructions necessary to make a mechanical watch independently.

 

-  shares of the Company Initium Watches Holding SA

 

Terms of payment and customer obligations regarding our introductory watchmaking courses

 

The prices of the different course packages are visible on the course page. These prices come into effect when ordering. The customer agrees to pay the full amount of the stay 30 days after receipt of the invoice and at the latest one month before the start of the course. If the client is unable to attend a course, he must inform Initium immediately. If the cancellation is not sent to Initium within the agreed timeframe, a cancellation fee will be billed as detailed below. When the customer cancels his stay within 30 days before the start of the stay, the course is refunded up to 100% of the amount. If the interested party finally cancels their registration within 30 days before the start of the stay, but at the latest 14 days before, the internship will be reimbursed up to 80% of the amount of the stay. If the course is cancelled within 14 days before the start of the stay, the course will be refunded up to 60% of the amount of the stay. A credit of a value equal to the amount of the unreimbursed workshop will be sent to you (validity date of one year). When the interested party cancels their stay for just cause (illness, accident, etc.) and on presentation of proof, the course can then be postponed to a later date.

 

Initium reserves the right to cancel a stay in the event of a significant and justified impediment. In this case, the customer will be fully refunded, and no compensation will be received. In the event of inappropriate or unruly behaviour with supervisors and/or with other clients during a course, Initium reserves the right to exclude a participant with immediate effect. In this case, the customer will, in no case, be reimbursed. Initium assumes no damage or obligation as a result of delays, difficulties in arriving at a destination or other inconveniences. The customer has a cancellation period of 7 days from the confirmation of participation in the initiation stay in watchmaking. If the interested party cancels the course within this period, they will be fully refunded, without having to justify the cancellation and without penalties.

 

Gift vouchers are valid for an indefinite period. However, the services included in the voucher may be subject to modification when certain formulas are redefined. A gift voucher can be refunded to the purchaser of the voucher within 15 days of ordering. Only a value of CHF 30.- will be deducted from the total amount of the gift voucher. This amount covers administrative and shipping costs. It is the customer’s responsibility to ensure that the address sent to Initium when ordering a voucher or gift box is correct. Initium is in no way responsible for the non-receipt of a shipment in the event of an error in the address, an undisclosed move or in the event of the customer’s absence upon receipt.

 

Purchase Conditions for Initium Watches

 

Watches assembled by the customer during a course in our workshops in Switzerland are guaranteed for two years from the date of the course. During the warranty period, Initium undertakes to either repair or replace any defective part of the watch free of charge. Repaired or replaced parts are guaranteed until the end of the warranty period. The shipping costs to have their watch repaired are not included in the warranty and is, therefore, the responsibility of the customer. The guarantee does not apply in the event of: -   Accident, improper or abusive use - Use of parts not offered by Initium - Repair carried out by any repairer other than Initium or agent appointed by Initium - Normal wear - Failure to notify Initium of a fault during the warranty period Repairs carried out by Initium regarding damage or defects due to the aforementioned reasons will incur additional costs for labour, transport and parts. For deliveries abroad, customs charges or any taxes may be added to the price of the service.

 

Warning regarding our watch kits: watches assembled by the customer independently from the house are not guaranteed. Indeed, even if our watch kits allow easy assembly thanks to clear instructions, we cannot guarantee a watch whose assembly has not been checked by one of our watchmakers. 

 


Terms of purchase of shares of the company Initium Watches Holding SA 

 

Our right to refuse your purchase of shares


We reserve the right to decline or deny your request to purchase shares without specific justification on our part. In this case, we will attempt to notify you and your credit card will not be charged, or your payment refused. In the event that your payment is already effective at the time of refusing your purchase request, we undertake to reimburse you for the full amount paid and to bear any bank charges at our expense.

 

Your right of withdrawal

 

You have a 7-day right of withdrawal from receipt by email of our Shareholder Agreement and the accompanying declaration of membership. To do this, you must inform us by email of your wish to assert this right. In the event that your payment is already effective at the time of exercising your right of withdrawal, we undertake to reimburse you the full amount paid; any bank charges remain at your expense.

 

Confirmation of your share purchase request

 

After reading and in the event that your request to purchase shares is accepted, you will receive a confirmation of receipt by email as well as our Shareholder Agreement and the accompanying declaration of membership. In order to validate your purchase of shares, you will have 7 days from receipt of our confirmation to send us by email your declaration of adherence to the Shareholder Agreement, dated and signed (an electronic signature directly on the PDF is valid). After this period, your request to purchase shares will be refused.

In the event that your payment is already effective at the time of refusing your purchase request due to non-receipt of your declaration of adherence to the Shareholder Agreement, we undertake to reimburse you the full amount paid, any bank charges remain your responsibility.

If your request to purchase shares has been approved and as soon as we have received your declaration of adherence to the Shareholder Agreement dated and signed by email, your shareholder status in Initium Watches Holding SA will be effective. Therefore, your name, contact details and the number of shares acquired will be entered in our register of shareholders. You will receive by email your username and password allowing you to access your online investor account, in which you will find your investor certificate indicating the number and number of shares you have purchased. During the presale phase (January 2021), investor accounts are not operational, and we will send you your investor certificate in PDF format by email.

 

Acceptance and modification of the above general conditions 


The general conditions apply from the use of the website (or the first telephone contact) until the use of the services offered by Initium, as well as for the entire legal relationship. The general conditions are accepted by the customer as soon as he has completed a complete stay reservation or online ordering process.

 

Anyone who has subscribed to a stay or who uses the services of Initium Watches Holding SA acknowledges having read the general conditions here. Initium Watches Holding SA reserves the right to modify these general conditions at any time and without notice. The latest version established on www.initium.swiss instantly deletes the previous one. The services offered are subject to conditions and must be validated by management. In the event of a dispute, the legal venue is located in the canton of Jura in Switzerland.



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