Who bears responsibility for the project ?
The project creator himself bears responsibility for the project, from creation to completion aka once the funds are raised.
Fosburit is never directly involved in setting the funding goals, assessing the financial needs, or the quality and realisation of rewards. Fosburit likewise does not guarantee the ability of the project creator to achieve his or her goal.
How to check the identity of the project creator and be sure he will see it through ?
Launching and running a crowdfunding campaign are based on gathering a large audience around your project.
The project creator must first rely on his closest funding level, like his friends and family, to vouch for his identity and to give credibility to his initiatives and experiences.
On each project creator bio section, you can find additional info, links to websites, background information, and when available, a link to Facebook or Twitter accounts.
On Fosburit, you can also easily get in touch with the project creator: don’t hesitate to ask him all your questions.
What legal obligations exist for the project creator ?
When a project is successfully funded, the creator is responsible for completing the project and fulfilling each reward.
If a creator is absolutely unable to complete the project and fulfil the associated rewards, he must make every reasonable effort to find another way of bringing the project to a satisfying conclusion for his backers.
Does Fosburit guarantee projects ?
Fosburit never guarantees the completion of projects. The platform was meant to connect sports project creators and their communities. The project creator is responsible for completing the project for which he or she raised funds. If personal or external factors prevent, delay, or modify the initial project, the project creator has to inform backers and find an appropriate solution.
Can Fosburit refund the money if a project is unable to be completed ?
No, Fosburit does not issue refunds if, for whatever reason, the project fails or if the project creator is unable to carry out the project. Transactions are between backers and creators only: it’s the responsibility of the project creator to refund pledges.
Who are the project creators ?
Projects on Fosburit come from sports clubs, associations, professional athletes, sports federations or even amateur athletes.
The goal could be linked with performance, promoting your sport, a challenge, a charity cause or the development of a sports organisation.
If you’ve got a project you think would fit on Fosburit, check out our page “Start a project”
for an idea of how to begin.
Where do backers come from ?
The majority of initial funding usually comes from the fans and friends of the project holder(s). They spread the word to their friends in person and online trough social media, and give a boost to the project, making it attractive for a larger audience.
Why do people back a project?
Many backers are rallying financially or socially around projects on Fosburit. Some are supporting an athlete they've admired for a long time, others are just inspired by amazing challenges and want to promote their region through sports. But they’re all rallying around a communal passion for sports and around the idea of becoming part of thrilling and challenging projects.
The exclusive rewards can also convince someone to back a project: a unique experience with the project creator, a limited edition tee shirt, or a privileged access to an event or equipment.
3. General functioning
What is Fosburit ?
Fosburit is a crowdfunding platform dedicated to sports and adventure. On Fosburit, you can bring your campaign to life in order to raise the funds you need to make your project possible.
Every project creator sets his or her project's funding goal and deadline.
Who is Fosburit for ?
Everything on Fosburit must be a campaign. A campaign has a clear goal, like participating in a tournament, buying equipment or raising money for charities through sports.
Fosburit does not allow projects to offer financial incentives.
How do campaigns work on Fosburit?
Campaigns are time-limited undertakings with a specific funding goal to reach (or exceed).
The project page (keystone of the campaign) gathers crucial info about the project and the creator such as photos, a video, a description of the project, a breakdown of funds needed, and a list of rewards.
Backers choose to pledge support for the project and receive, in exchange, a reward for their financial support.
What types of projects are on Fosburit ?
You will definitely find a campaign that suits you! All our projects are ambitious, daring and, of course, sports related!
Participating in the biggest world tournament or championship, promoting your sport or your club, sailing around the world or hiking Mount Everest… Whether you’re doing it for a charity, as an athletic goal, to fulfil a dream, or to achieve a personal challenge…
The common denominator is always SPORTS, along with the collective impact of the project.
Who can use Fosburit? How much does it cost to sign up?
Everybody’s welcome on Fosburit to discover, promote and share his or her sports projects, whatever their nationality, favourite sport or even shoelace colour.
However, you must be over the age of majority to create or back a project.
Starting a project on the platform is completely free! Check, comment, like and share projects as much as you want!
HOLDERS OF PROJECT
4. Start my project
Can anyone create a project?
Yes! Anyone: private individuals, corporates, organizations, teams, sports federations,… Whatever your home country, your nationality, or even your favourite sports team! Everyone is free to create a project, provided they are over the age of legal majority, that their project is sports related, has clear goals, and that they have a good deal of motivation!
What are the different funding types on Fosburit?
We offer 3 funding types in order to perfectly fit to your needs!
« All or nothing »
Your campaign is funded as soon as the goal you set at the beginning is reached within the time limit. Then you’re credited with the total amount. However, if you don’t reach your funding goal, backers get refunded (free of charge).
« Supporter »
Taking into account the collaborative nature of sports, the goal here isn’t to reach minimum amount of money but rather to unite a maximum number of backers around your campaign. The « all or nothing » funding principle applies.
« Charity »
You keep the money you collected whatever you’ve reached your funding goal or not. Every little coin counts when we deal with charity projects.
How does Fosburit select the projects?
To be hosted on Fosburit platform, a project has to be sports-related and must have a collective reach. Besides which, projects must conform to Fosburit guidelines. After you fill in the info on your project page, the Fosburit team will assess your project and evaluate if it is viable or not. Depending on the coaching package you choose, our team can also provide some improvements and tips in order to maximize your chances of success.
What is the validation delay when I finished filling out my project?
As soon as your project page is filled out, our team will review it. Then, we'll get in touch with you to approve or deny your project. We will also give you some feedback and advice to help your campaign succeed. Our team will be in regular contact with you to make sure that your project is ready to be released online.
Are all projects approved?
No, projects are all moderated and the Fosburit team must approve it before it goes public. To be on Fosburit, your project should be sports-related: a sports challenge, a video production, a film, the funding of a tournament…. Whatever its exact nature, the project must be sports-related.
How much does it cost?
Creating a project page and starting a campaign on Fosburit is totally free. However, if a project is successfully funded, Fosburit applies a fee to the funds collected. If funding isn’t successful, no fees apply and backers get refunded.
Fosburit deducts commission fees only on successful projects. This commission is of 6% without taxes. Fosburit deducts therefore 8% fees + external additional bank fees.
And if I don’t reach my funding goal?
If your campaign isn’t successful, you won’t pay anything. Fosburit only applies a fee if the campaign reaches or exceeds its funding goal. Therefore, if you don’t reach your funding goal, your backers get refunded, free of charge (of course!).
Can I stop my ongoing campaign?
Theoretically, the project creator is responsible for carrying out the project while the campaign is live. Exceptions can be made in the event of extenuating circumstances. To cancel an ongoing campaign, you’ll have to send an email to our team. We also recommend that you write a message to your backers so that they know the reasons why you cancelled your campaign.
Can I exceed my funding goal?
Of course your campaign can exceed the goal you initially set! Your funding goal should be the minimum amount of money you need to initiate your project, while keeping in mind that this amount can be exceeded.
5. Before launching your project
Is there a maximum duration for a crowdfunding campaign?
On Fosburit, your funding period can last anywhere from one to 60 days (2 months).
However, keep in mind, that long funding periods are not a guarantee of success: it can be harder to create confidence and sustain motivation around your campaign. Even with a shorter funding period supporters will still have plenty of time to back your project.
Try and set a reasonable period so that you’ll have the time to reach your goal while keeping in mind that your campaign has to be dynamic.
Can my backers benefit from a tax deduction?
Non-profit, charitable or public interest organizations/foundations are welcome to launch their project on Fosburit. Depending on local legislation they would be able to offer tax deduction.
What’s a reward?
Fosburit is a reward-based crowdfunding platform: for every pledge amount you’ll make a corresponding reward.
Defining your rewards is critical: attractive rewards can encourage those willing to help you to give even more money.
You need to offer rewards for every budget, from ten euros to hundreds or thousands.
6. Running your campaign
How do I promote my campaign ?
The orgnanisation of your campaign is key. You have to be 100% invested if you want to see your project through successfully.
We wrote a practical guide to help you, Fosburit Academy, based on everything we’ve learned from our successful campaigns.
How do I get in touch with my backers during my campaign ?
On each project page, we designed a special section where you can easily post news about your project and be in touch with your backers. You can post news and answer all their questions.
Can I edit my project page during my campaign ?
As soon as your project has been reviewed and approved by Fosburit, you’ll have access to your project page as an admin. You can then edit the info you filled out, add photos or videos, and change the description and goals of your project. You can also add new rewards.
How do I get ready to send my rewards ?
As the project creator, you have access to a dedicated area on Fosburit where you can administrate your campaign. In this area, you can follow the evolution of your funding. You’ll be able to sort pledges and download a file with all the addresses of your backers. You can then easily send your backers their rewards.
How do I receive collected funds ?
As soon as your campaign is successfully funded, you’ll have to load your bank account details along with your credentials into your user account :
- Individuals : a copy of your ID
- Companies : recent proof of registration (under 3 months), copy of the signed company statuses, copy of the president’s ID
Then we’ll be able to wire the raised money to your bank account in under 3 days.
Am I responsible for VAT?
It depends on the local legislation of the country in which you are operating. For example, in most European countries, the principle is as follows:
- You're not responsible for VAT if you are operating as a private individual or a non-profit organization ("VAT not applicable" scheme).
- You are responsible for VAT if you’re running a commercial activity and if your rewards can be considered as products you’re selling. In this case, the rate to apply depends on the sector of activity of your project.
8. Manage my account
How do I edit my personal info ?
You can access and edit your personal info by logging into Fosburit at any time. These personal details are totally private and only accessible from your account.
How do I log in to Fosburit with my Facebook account?
You can log in to Fosburit with your Facebook account. You just have to click on the “connection” tab and click on the blue button “Log in with Facebook”. You’ll be directly authenticated on Fosburit. Then you will be able to edit your personal details directly on your Fosburit account.
How do I delete my account from the site?
To delete your account from the site, you just have to log in to your Fosburit account and click on the button “delete my account”. You’ll be removed from our database and your personal info will be erased.
for more information.
Are my personal details shared with project creators?
The project creator will have access to your personal info only if the funding is successful. Then, he’ll be able to ship your rewards directly to you.
What’s a reward? How do I get one?
Fosburit is a reward-based crowdfunding platform: for every pledge amount, the project creator offers a corresponding reward.
If you back a project and if the funding is eventually successful, your reward will be automatically granted to you.
I haven’t received my reward. What should I do? Who is responsible?
If you haven’t received your reward, you should contact the project creator. Fosburit is only responsible for uniting project creators and potential backers. Fosburit doesn’t intervene in the production or shipping of rewards.
How can I back a project ?
You can back a project in different ways :
- Financially back a project! Fundraising is the first aim of every project on Fosburit. To back a project, you just have to go to the right tab (where all the rewards are listed) and choose the amount of money you would like to donate. Then you’ll create a Fosburit account before your payment is processed on a secure page.
- Become an ambassador of the project you fall for! Being an ambassador can have a real impact on its success. Share, spread the word around you and promote the campaign on the web and on social networks.
- Share your experience! Fosburit isn’t only a source of funding: if you think your help, experience or advice could be useful to a project creator, share your thoughts with him!
How to stay informed about project updates?
If you back a project, you will be able to follow news about the campaign thanks to the “news” tab, which will be regularly updated by the project creator. You can also ask him your questions about his project. Don’t hesitate to follow the project creator on social media and share his news.
Can I cancel my pledge?
Yes! You can cancel your pledge as long as the project is still live and hasn’t reach or exceed its funding goal. You can do this by accessing your personal info on the platform.
Can I modify the amount of my pledge?
Yes ! You can change the amount of your pledge as long as the project is still live and hasn’t reached or exceeded its funding goal. To do that, you just have to cancel your pledge and make a new one.
What happens if the project I backed fails? What are my options?
When a project creator fills out his project page, our team review and moderates it. We do this review to prevent questionable projects from being launched.
However, Fosburit does not guarantee the ability of the project creator to achieve their goal.
If the project you backed is cancelled (delayed or abandoned), you can contact the project creator to get an explanation.
Is my payment secure ?
Online payment on Fosburit is completely secure thanks to our payment provider Mango Pay. If you back a project with your credit card, you’ll have to fill out a secure form, like any other online payment. At no time will Fosburit have access to your payment information. Fosburit does not keep it after the transaction.