Update to Buyback service terms and conditions

Update to Buyback service terms and conditions

Please be informed that as of 15 December, terms and conditions of the Buyback service agreement on NEO Finance will be changing. Until now, in order to adjust the discount rates at which investments can be sold, the platform was required to give investors at least 6 months’ advance notice. Given the increasingly fast-changing market and seeking to make it easier to adapt to prevailing economic conditions, the notification period is being changed to 14 calendar days.

As of 15 December 2022, all existing and new investors on NEO Finance who manually invest in loans or set up new automated investment offers will be asked to first sign the agreement’s new terms and conditions.

Important note: Investors with automated investment offers created prior to 15 December will be contacted individually and asked to update their automated offers by 28 February 2023 and sign the new version of the agreement. Failure to do so by the specified date will result in suspension of the automated investment offers created under the old version of the agreement. 

NEO Finance AB is making the decision to update the Buyback service agreement in order to reduce potential external risks to the NEO Finance platform. Increased flexibility to adjust discount rates for investment sales more rapidly if needed will further ensure the stability of the platform, and that is directly tied to the safety of investors’ investments.

It should be noted that the Buyback service, which lets investors reduce their investment risk, remains in place just as until now, and that the discount rates for investment sales also remain unchanged; only the terms of the agreement are changing. When automated investment offers are updated, investors’ place in the queue to invest will also remain the same as it was.

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