Terms of Use & Fees – SOCIACT Crowdfunding for Sports Clubs
1. Purpose of the Initiative
This initiative aims to create an initial database to map Greek sports clubs that possess or intend to obtain Official Athletic Recognition, with the goal of:
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understanding their operational and development needs,
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establishing a communication and collaboration network,
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preparing for future support actions such as information sharing on crowdfunding or other fundraising opportunities.
Participation does not constitute a commitment or promise of immediate or future funding.
2. Eligibility - Who Can Use the Platform
Participation is open to all sports clubs that:
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operate legally within the Greek territory,
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are active in the field of amateur sports,
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possess or intend to apply for Official Athletic Recognition from the General Secretariat of Sports (GGA).
SOCIACT’s crowdfunding service is available exclusively to amateur and professional Sports Clubs registered in Greece. This initiative is designed to support fundraising for club-related activities, such as equipment, facility upgrades, training costs, travel for competitions, or other eligible purposes in line with the club’s mission.
3. How to Participate
Participation requires completing an online form that includes:
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basic identification and contact information for the club,
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information about the sports practiced,
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current status of Official Athletic Recognition,
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explicit acceptance of these Terms and Conditions.
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Be member of the OLYMPASSMARK Platform
Participation is free of charge and does not require any financial contribution.
4. Campaign Management
Each fundraising campaign is created by the Sports Club and hosted on the SOCIACT website dedicated section. SOCIACT acts as a third-party fiduciary for the campaign, managing all incoming sponsorships and donations on behalf of the club until the campaign is completed and the purpose of the funds has been fulfilled.
5. Campaign Fees
SOCIACT applies a 10% campaign fee (plus applicable VAT) on the total campaign target, regardless of the amount actually raised.
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Campaign Fee: 10% of the target amount
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VAT: 24% on the fee (as per Greek law)
Example:
For a campaign with a €5,000 goal:
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Platform fee: €500
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VAT (24%): €120
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Total deduction: €620
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Net amount to the club: €4,380
This fee covers campaign setup, platform usage, donor support, compliance checks, and financial transparency services.
6. Transaction Fees
In addition to the platform fee, a transaction fee is applied to each donation to cover payment processing costs via third-party providers (e.g., Stripe, credit card, e-wallets).
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Transaction Fee: 2.9% + €0.35 per transaction (may vary slightly depending on the payment provider)
These fees are deducted from each individual donation before funds are credited to the campaign.
7. Fund Disbursement
Funds are collected by SOCIACT and transferred directly to liabilities, staff (coaches, players, trainers etc.), suppliers and others after written declaration from the club or to the club’s official bank account upon preference, once the campaign has ended and all compliance documents have been submitted. A detailed breakdown of deductions, fees, and net revenue will be provided. Disbursement typically occurs within 10–20 business days following campaign closure.
8. Refund & Cancellation Policy
As the initiative supports non-refundable sponsorships and donations toward sports-related community activities, refunds are not permitted, unless:
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the campaign is cancelled by the club before disbursement,
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or a confirmed misuse of funds is identified.
In such cases, SOCIACT reserves the right to return the funds to donors or reallocate them to an alternative certified campaign.
9. Obligations of the Sports Club
Participating clubs are required to:
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Provide accurate and honest campaign content,
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Submit documentation proving how the funds were used,
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Complete a simple final report to SOCIACT within 60 days after project implementation.
10. Legal Entity Information
SOCIACT is a Non-Profit Organization based in Patras, Greece, operating in compliance with Greek and EU legislation on crowdfunding, financial management, and data protection. All campaigns are subject to approval and monitoring by SOCIACT.
11. Data Use & Personal Data Protection (GDPR)
The data submitted via the form:
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will be used exclusively for the purposes of this initiative,
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will not be shared with third parties without prior consent,
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will be securely stored in compliance with the General Data Protection Regulation (EU 2016/679),
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will be accessible only to authorized members of the initiative’s organizing team.
Any sports club may request the deletion of its data from the initiative’s database at any time.
12. Limitation of Liability
This initiative:
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is not a support program, competition, or financial mechanism,
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does not guarantee participation in future programs or activities,
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does not provide any guarantee of future inclusion in platforms or funding tools.
Its sole purpose is to collect basic information and to keep participants informed of relevant future opportunities.
14. Acceptance of Terms
By submitting the form, the legal representative of the club declares that:
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they have read, understood, and accepted these Terms and Conditions,
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the information provided is accurate and complete
15. Contact Information
For any clarifications or technical support regarding this initiative, please contact the coordination team at:
📧 act@sociact.org
🌐 www.sociact.org