Terms of Service

1. Who we are and what these terms cover

The platform is operated by Meridian Technologies LLC, a company registered in Mongolia ("we", "the platform").

These terms apply to everyone who uses the platform — both people who back projects ("backers") and people who run them ("creators"). By using the platform you agree to them.

We are not the seller of rewards. We connect creators and backers, and we collect, hold and transfer funds as an intermediary. Responsibility for delivering rewards sits with the creator (§7).

2. Accounts

An account is required to pledge. There is no guest checkout, because if a project fails we must be able to reach you to return your money.

You agree to give a real, working email address and to keep your login details secure. Email verification does not block your pledge, but it must be completed before the project closes.

One person, one account. Fake or duplicate accounts and disposable email addresses are not allowed.

3. How projects work

Every project on the platform is hand-reviewed before it goes live. Listing a project is not an endorsement of its likely success, its reward delivery, or the creator’s business decisions.

Each project has a funding goal, a deadline and reward levels. All amounts are in Mongolian tögrög (₮) only. Dollar figures on English pages are indicative estimates from the latest Bank of Mongolia reference rate — they are not a price and not what you are charged.

All-or-nothing: funds go to the creator only if the project reaches its goal by its deadline. If it does not, every backer is refunded in full.

4. Pledging and payment

The platform is pay-now. You are charged in full at the moment you pledge. Mongolian payment rails have no authorisation-hold primitive, so your funds are held in a segregated collection account until the project closes.

You can pay by QPay, and by domestic or international card through Golomt Bank, where that option is enabled in the current release.

An eBarimt tax receipt is issued as soon as your payment is collected. You can find it under "My pledges" in your account.

We do not collect delivery addresses in this release. A pledge is a reward level plus a payment method. The creator collects delivery details from you directly after the project closes.

5. Changing or cancelling your pledge

You can cancel your pledge and receive a full refund at any time up to 48 hours before the project closes.

Changing reward level works by cancelling the old pledge and creating a new one. The old pledge is refunded automatically once the replacement is paid.

Cancellation is not available in the final 48 hours, because by then the funding total and reward quantities have already informed the creator’s decisions.

6. Refunds

If a project does not reach its goal, refunds are created automatically. You do not need to file a claim.

Refunds return by the route you paid: card payments through the card network, QPay payments by bank transfer. If the payment record does not identify an account we can pay back to, we will ask you by email and by a banner in your account to add a refund bank account.

Timing: refunds are initiated within 24 hours of a project failing, and completed within 72 hours of a refund destination being available. Where a destination is missing, we re-send the request until it is resolved.

Transfer fees on refunds are our cost. They are never deducted from what you get back.

If we ever wind the platform down, all live projects are cancelled and refunded 100% from the segregated account.

7. Rewards and delivery

Producing, delivering and supporting rewards is entirely the creator’s responsibility. The creator is the seller; we are the intermediary.

Rewards on funded projects can be late, can change, and can fail to arrive. That is the nature of crowdfunding — you are supporting work being made, not buying a finished product.

If a creator fails to deliver, we will help by providing relevant records, engaging the creator, and where warranted declining to list their future projects. We do not, however, underwrite the cost of undelivered rewards.

Issuing an eBarimt receipt for the reward itself is the creator’s tax obligation. We provide the data they need to do it.

8. Fees

We charge a fee on successfully funded projects. The fee percentage is shown openly on each project page.

The fee is VAT-inclusive, and we issue the creator an eBarimt invoice for it.

We charge no fee on failed projects, and no fee to backers at all — you pay only what you pledge.

Payment-rail costs (QPay, card networks) are priced into that fee.

9. Creator obligations

To become a creator you must complete identity verification — the ДАН national e-ID, or manual review as an interim route — as an individual or a company. Your bank account name must match the verified name.

Creators must describe their project truthfully and without misleading claims, set goals honestly, and keep backers informed with updates.

Funds from a successful project are transferred after a 48–72 hour review window following close. Where something needs checking, the payout is held until it is resolved.

Creators must use project funds for the purpose they described.

10. Prohibited projects and conduct

We do not allow projects involving: illegal goods, weapons, drugs, tobacco, alcohol, unproven medical treatments, financial investments or anything promising a financial return, lotteries, flows with the character of money laundering, work that infringes someone else’s copyright, or content that is abusive or discriminatory.

The platform is not for selling equity, debt or any financial instrument. We operate rewards crowdfunding only.

Fake pledges, self-backing, and unlawful use of a payment instrument will result in the account being closed and funds returned.

11. Suspension and cancellation of projects

We may suspend or cancel a live project at any time if it breaks the law, misleads backers, or shows risk signals.

If a project is cancelled, every pledge collected is refunded in full.

We tell the creator and the backers why, and record the decision in our audit log.

12. Complaints and disputes

Complaints go to support@fundly.mn. Every complaint is logged with its resolution, and that register is the basis of our reporting to regulators.

We aim to review and respond to a complaint within 5 business days.

Disputes that cannot be resolved are subject to the courts of Mongolia.

13. Limits of our liability

We are not liable for temporary service interruptions, or for delays caused by third-party payment rails, banks, or the ДАН and eBarimt systems.

Our liability to you is limited to the amount collected from you. It will not exceed what you paid.

These limits do not apply to liability arising from our own gross negligence or wilful misconduct.

14. Governing law and regulatory status

These terms are governed by the laws of Mongolia.

We have applied to the regulatory sandbox operated by the Bank of Mongolia and the Financial Regulatory Commission, and are building to its requirements. We do not present ourselves as a bank, a payment institution, or an investment intermediary.

Backer funds are held in an account segregated from the platform’s own working capital.

15. Changes to these terms

If we update these terms we will change the date on this page and notify registered users by email.

Pledges already made remain governed by the terms in force when they were made.

16. Contact

Meridian Technologies LLC · Ulaanbaatar, Mongolia · support@fundly.mn