A FlexUp Charter, or simply Charter, is a contractual framework which describe how an account is to be managed according to the principles of FlexUp Economic Model.

If you decide to use the FlexUp Economic Model for your account, you will need to create a Charter by filling the form below and signing it.

Conditions:

• The following accounts types are eligible to create a Charter:

  – legal entities

  – subaccounts

  – groupings

• Individuals accounts cannot sign a Charter directly.

  • They must first create a new subaccount or join/create a grouping account.
  • They will then be able to create a Charter for this subaccount or grouping.

Definitions:

In the context of this Charter (signed by the current account), the following terms are used:

• the current account is referred to as the “Project”,
• the legal person (individual or legal entity) which owns the current account (either directly, or indirectly for subaccounts) is referred to as the “Holder”,
• any contract that is subject to the Charter is referred to as an “Associate Contract”,
• any third party which signs an Associate Contract is referred to as an “Associate”,
• the account responsible for handling the administrative tasks required under the Charter is referred to as the “Secretary”.

Financial commitments whose priority is:

• firm: follow the “conventional” economic system, and must be paid regardless of the Project’s profitability,
• flexible: follow the FlexUp Economic Model. They are conditional and are payable subject to the Project’s available cash, as defined in the Charter (see payment terms for more details).

Purpose:

The Charter aims to:

• Define how the Holder will develop and manage the Project, with a focus on cash allocation rules.
• Define the terms of collaboration between the Holder and the Associates for the Project, with the intent to involve the Associates in the Project’s development, risks, and profits through a common remuneration mechanism.
• Promote the virtuous development of projects based on principles such as simplification, non-discrimination, transparency, and alignment of interests.