Terms of use

Welcome to ahimnadram.com! 

Using the information on our website, site services, and system of financial assistance, you agree to our Terms of Use and Privacy Policy. From time to time we can update our Terms of Use. Any changes will be published on our website.

What does ahimnadram.com do? 

Our website unites Artsakh with the whole world, giving an opportunity to those who want to participate in the development of Artsakh. The platform presents projects in the field of IT as well as nonprofit, state-owned and business projects. Supporters can direct their resources to the implementation of their preferred projects through the website, the whole process of which will be available to the public. 

 

Funding the projects.

The funds raised for the implementation of the projects in accordance with the funding procedure are transferred to the beneficiary through the “High technologies and strategic planning center” fund (hereinafter - the Fund). In the case when the Fund receives financing without a clear reference to the project or category, the amount will be directed to fund the projects available at the time on ahimnadram.com. Moreover, priority will be given to the projects with a higher percentage of funding.

The amount provided for business projects is given to the beneficiary in the form of a targeted interest-free loan of up to 20 million AMD with a repayment period of up to 10 years. The maximum repayment period can be granted to the business projects that require financing from 18 million AMD and more. Otherwise, the repayment period depends on the amount required for the implementation of the project and the expected income from it. 

Interest-free loans are made subject to the availability of liquidity, i.e. collateral, or guarantee. The collateral is required for funding projects from 2 million AMD and more. The subject of the loan may be any property not prohibited by law.

The projects in the field of IT as well as nonprofit and state-owned projects are funded on a charitable basis.

 

How is the business project funded? 

A deadline will be set (90 calendar days) for the full funding of the project, during which the full amount required for the project must be collected. Possible cases after the predetermined deadline:

  • In the case the total amount of the project is achieved to 50%, the collected money will be redistributed  among other projects on the Fund’s website;
  • In the case the required fund is being collected up in the range of  51-85%, the deadline of the project is extended for another 15 calendar days. During this time, the Fund will appeal to individuals and organizations that have contributed to that project with a proposal to replenish the amount as they were already interested in the implementation of the project, as well as to relevant state structures of that field. It is also possible to replenish the amount of the project from the raised fund. However, in case of shortage, the amount collected will be redistributed among other projects;
  • In the case the funding of the project is in the range of 86-99%, a revision of the project is carried out to match it within the collected amount. In this instance, full replenishment from the raised fund or state budget is possible.  

The redistribution of the amount is done among projects posted at the time on ahimnadram.com. Moreover, priority will be given to the projects with a higher percentage of funding.

It is possible to contribute materially in accordance with the list of necessary items previously submitted in the project. 

 

How are IT as well as state-owned and nonprofit projects funded?

For the full funding of the project a deadline will be set (90 calendar days), during which the full amount required for the project must be collected. The exceptions are IT and state-owned projects in the case of which the deadline is not set. The possible cases after the expiration of the period provided for the project;

  • In the case the total amount of the project is achieved to 50%, the collected fund will be redistributed among other projects on the Fund’s website,
  • In the case of collecting up to 51% or more the deadline of the project is extended for another 15 calendar days. During this time, the Fund will appeal to individuals and organizations that have contributed to that project with a proposal to replenish the amount as they were already interested in the implementation of the project, as well as to relevant state structures of this sphere. It is also possible to replenish the amount of the project from the raised fund. However, in case of shortage, the amount collected will be redistributed among other projects.

The redistribution of the amount is done among projects posted at the time on ahimnadram.com. Moreover, priority will be given to the projects with a higher percentage of funding.

It is possible to contribute materially, in accordance  with the list of necessary items previously submitted in the project. 



Who could be the beneficiary of the project?

  • The beneficiary of the business projects: any natural person aged 18 to 65 years or legal entity registered in the RA who will present a realistic project and after collecting all the necessary amount for its implementation, in case of necessity will be registered with the tax authority of the Republic of Artsakh if not yet done so. 
  • The beneficiary of the IT, nonprofit and state-owned projects: any natural or legal entity registered in the RA, who will present a project aimed at the development and support of the area in the Republic of Artsakh, as well as state and local government bodies that will submit a project contributing to the improvement of socio-economic situation in the Republic of Artsakh.

 

How is funding provided to the beneficiary?

Funding will be carried out according to a predetermined schedule by providing the amount to the beneficiary in a phased or lump-sum method using appropriate control mechanisms. If the control reveals that the amount provided did not serve its main purpose, then:

  • The beneficiary will once be given the opportunity to bring the stage to the pre-planned goal before the start of the next phase (no more than 10 calendar days),
  • In the case of repeated violation the beneficiary will be obliged to return the entire amount provided to the Fund within 10 working days which the Fund will redistribute among other projects.

Any disagreements arising during each of the above points are subject to resolution in accordance with the procedure established by the legislation of the Republic of Artsakh.

 

 

Submission of reports on implemented projects

Upon completion of the project, a full package of reports will be prepared in the form of photo, video and financial statements, which will be available in the appropriate section of each project.

 

Developing national responsibility

The beneficiary undertakes to repay the loan in the next month after providing full funding for the implementation of the business project in accordance with the schedule established by the contract (in the form of monthly payments). The following categories are the exceptions:

  • There is no refund in case of the projects submitted by state entities.
  • There is no refund for IT and nonprofit projects. In the second case, if profit or misappropriation is revealed the entire amount provided at that point is subject to return according to the contract.

Any disagreements concerning the refund of the amount are subject to resolution in accordance with the procedure established by the legislation of the Republic of Artsakh.

The Fund may use the raised funds as a result of the fulfillment of all the above conditions, as follows:

  • 85% will be used to fund other projects presented on the platform;
  • 15% will be directed to the expenses of the Fund which is the charge for monitoring the implementation of the projects, including the involvement of experts and periodic monitoring.

 

Notes for investors

  • If support is provided through ahimnadram.com exchange or cancellation policy is not valid.
  • An ID number is generated for each project. In the case of financial assistance, please clearly indicate the ID number of the project or the name, surname of the beneficiary and the name of the project. Otherwise, the amount will be directed to the projects posted at the time on ahimnadram.com, giving priority to the projects with a higher percentage of funding.
  • Before providing material support, please contact the Fund by the phone numbers or email address indicated on the website to stay in touch with the Fund for proper organization of the support process.
  • If you would like to contribute, we strongly recommend you to enter your personal data in the required fields accurately for being able to contact you if necessary.

 

 

 Last update; 05.11.2021