Terms and Conditions for Participating in Ahli Fintech Hackathon

Last updated on 7 February 2023 10:00 am (UTC +02:00) Amman Time.

Hackathon Terms and Conditions

By participating in the Ahli Fintech Hackathon taking place on or around (20/02/2023) – (21/03/2023), (“Hackathon”), which is organized by Ahli for Financial Technology (“Ahli Fintech”) and Crown Prince Foundation, (“CPF”), you (“You” or “Participant”) hereby agree to these terms and conditions (“T&Cs”) and commit to comply with the same throughout your participation in the Hackathon. Should You be selected for incubation by Ahli Fintech after the conclusion of the Hackathon, these T&Cs shall apply beyond the Hackathon period. You understand and acknowledge that the final product produced by You during the Hackathon, being a concept for a fintech solution, will be assessed by a panel of judges (“Panel”) who may select one or more solutions (“Solution(s)”) compiled and/or designed by Participants and which Ahli Fintech may incubate, invest in and/or sponsor, subject to a separate agreement which Ahli Fintech will conclude with the relevant Participant.

1. Participation criteria

– The Hackathon is open to students currently enrolled in any one of the participating Universities in Jordan and a list of which is attached to these T&Cs, who have a passion for software development, are interested in financial services, technology, financial technology, banking and innovation and have an interesting project or idea that could be scaled and launched in the Jordanian market and/or other regional markets (“Participants”).

– Participation in the Hackathon is open to Participants in Jordan who hold a student ID issued by their respective university and any other documents deemed necessary by Ahli Fintech or CPF.

– In the event a team wishes to participate, all the members of the said team would be considered as Participants and each member will be bound by these T&Cs.

2. Participation Terms

– Participating in the Hackathon is entirely free of charge and admission and registration will be open during a specific time period which starts on or around (20/02/2023) and ends on or around (21/03/2023). Participants will subsequently receive a confirmation of their registration.

– Ahli Fintech reserves the right to reject a person’s application due to failure by the said person to meet the conditions for participation which are included in or attached to these T&Cs and/or due to failure to register within the period referred to above.

– Participants wishing to sign up for the Hackathon must complete the online registration form, indicating the personal details of the Team Leader (defined in these T&Cs) and each team member. All Participants must accept the event regulations and grant consent for the handling of their personal information for use by Ahli Fintech including disclosure of same to Ahli Fintech’s partners, affiliates, suppliers and their directors, employees and advisors.

– Participants shall ensure that the personal information provided upon registration online is true and accurate with no liability on Ahli Fintech in case of any inaccuracy, noting that Ahli Fintech shall have a right to prevent a Participant from participating in the Hackathon in case of him/her having provided inaccurate information and/or has acted in a fraudulent manner. If the information provided during online registration is found to be incomplete and/or inaccurate, even if related to just one team member, the entire relevant team will be excluded from the Hackathon.

– Participants may not present any solution and/or pitches and/or ideas or concepts in respect of which any third party (such as but not limited to investors or other incubators) has any rights and whether such rights relate to the Solution itself and/or whether it relates to any ownership rights in respect of a company that be may incorporated by the Participant(s) where the said company would own the Solution. The Participant understands and acknowledges that any violation of the above covenants may result in their disqualification from the Hackathon and termination of their incubation agreement should they be selected for incubation by Ahli Fintech after the conclusion of the Hackathon.

– Participants must not start working on their Solutions before the Hackathon’s start date and must not share any information and/or ideas communicated and/or exchanged during the Hackathon with any third party whether during or after the Hackathon period. The Participant understands and acknowledges that any violation of the above covenants may result in their disqualification from the Hackathon and termination of their incubation agreement should they be selected for incubation by Ahli Fintech after the conclusion of the Hackathon

– Each Participant must provide or procure whatever hardware and/or software they believe they need to participate (e.g. laptops, phones, etc), including any necessary chargers.

– Participants will be held liable for any damage whatsoever caused by them while they are present on the premises of Ahli Fintech and/or Jordan Ahli Bank (“JAB”).

– Participants may form a team which is comprised of (3) Participants. A Participant may not, however, participate in multiple teams although a team may be comprised of Participants that are enrolled at different universities.

– In the event that Participants form a team which would participate in the Hackathon, a member of the team would need to be selected as a Team Leader (“Team Leader”) who would represent the said team be awarded the prize in case of having the team’s final product selected.

– To the maximum extent permitted under applicable law, You undertakes to indemnify Ahli Fintech, its affiliates and their directors, officers, employees, agents, representatives, vendors, contractors, content partners and sponsors (collectively, “Indemnitees”) and hold them harmless against any damages, losses or claims resulting from your participation (or attempted participation) in the Hackathon and/or for any technical problems or technical malfunction or other occurrences which may affect the conduct of the Hackathon. You shall also indemnify and hold harmless Indemnitees from and against any and all claims, suits, actions, losses, expenses, damages, penalties, and costs, including reasonable attorneys’ fees resulting from any actual or alleged violation of these T&Cs by You.

3. Intellectual Property Rights

3.1 Each Participant:

a. declares that the Solution which they produce during the Hackathon is their own original work and in no way violates, in whole or in part, the intellectual or industrial property rights of any party.
b. releases Ahli Fintech, its affiliates and their directors, employees and agents from any and all responsibility, liability, claims and/or request for compensation and/or made by any party in respect of the Solution; and
c. acknowledges that the Solution is the property of the Participant, which takes full responsibility for ensuring any rights of ownership, intellectual property and originality in accordance with applicable law (e.g. filing of patents and other such registrations as appropriate).
3.2 Each Participants acknowledges that their Solution may be selected by Ahli Fintech for incubation and/or any sponsorship arrangement which Ahli Fintech may offer to the Participant pursuant to which the Solution may be commercialized. The Participant acknowledges that they will, pursuant to certain agreements they would conclude with Ahli Fintech, grant Ahli Fintech certain intellectual property rights in the Solution in accordance with the terms of the said agreement.
3.3 The Participants hereby agrees and acknowledges that any photos, videos and/or other recordings taken during the Hackathon can and will be used in ways including but not limited to modifying/editing the photographs or video material, such that Ahli Fintech and/ or JAB may add any creative effects at their own discretion. It is agreed that Ahli Fintech shall have a perpetual, irrevocable, sub-licensable, transferable right to copy, use, display and publish the photos, any videotaped, photographed, and/or recorded materials in which the Participant appears in any online, electronic and/or print format (including but not limited any social media sites or platforms) for any educational and/or promotional purposes of Ahli Fintech and/or its affiliates, contractors, content partners and/or sponsors.

4. Confidentiality

4.1 It is understood and acknowledged that the Participant may be exposed to and/or granted access to certain Confidential Information of Ahli Fintech and/or JAB during their participation in the Hackathon. To that end, the Participant warrants the following:

a. maintaining the confidentiality of the Confidential Information even after the end of the Hackathon and for the maximum duration permissible under applicable law;
b. returning any such Confidential Information to Ahli Fintech at the end of the Hackathon or as otherwise requested by Ahli Fintech;
c. using any of the said Confidential Information to design, produce, and/or compile any work products save for the Solution if so permitted by Ahli Fintech expressly and in writing by the following contact fintech@ahli.com
d. refraining from making any copies and/or disclosing same or any part thereof to any party; and/or
e. Using such Confidential Information for any purpose other than their participation in the Hackathon.
4.2 For the purposes of these T&Cs, “Confidential Information” shall mean: any and all information disclosed by Ahli Fintech and/or anyone acting on its behalf to the Participant whether directly or during the course of the Hackathon including but not limited to trade, professional and financial secrets related to, maintained by, owned by, processed by Ahli Fintech or JAB for its account, and includes all information that the Participant has access to and/or brought to their knowledge, informed about, exposed to, whether directly or indirectly that relates to the companies and trade, industrial, professional and financial interests owned by Ahli Fintech in part or full, as well as all affiliates and agents of Ahli Fintech. Confidential Information includes all such information that is written or not written or in electronic form, whether such information has been indicated to be confidential or private or not, which are brought to the knowledge of the Participant verbally or in writing or in any other means of expression. Confidential Information includes information related to Ahli Fintech’s hardware devices, software and network, including all statistics, stored information, whether electronically or non-electronically stored, manuals of operation of all such hardware devices, software and networks as well as any information communicated, displayed and/or distributed by any party during the Hackathon or in connection therewith.

5. The panel of judges

It is understood and acknowledged that the Panel will consist of Ahli Fintech or JAB representative and guest members. Winners shall be chosen according to the majority votes of the Panel and based on the selection criteria by which the Panel will assess the Solutions.

6. Miscellaneous

– At any time, in the sole and absolute discretion of Ahli Fintech, Ahli Fintech shall be entitled to disqualify a Participant and/or team in the event of failure by them to meet relevant eligibility criteria or any other violation or suspected violation of these T&Cs.

– Ahli Fintech will determine eligibility of Participants, declare winners (including but not limited to in the event of a tie), and award prizes in its sole and absolute discretion. You agree that such decisions are final and are not subject to review or reconsideration.

– Participants must comply with all applicable policies of Ahli Fintech during their participation in the Hackathon. Ahli Fintech reserves the right to expel any individual from the premises or to remove the individual from the Hackathon if the individual is not authorized to participate or be present at the Hackathon, violates or is likely to violate any of its policies and/or these T&Cs, and/or is otherwise disruptive or engaging in activities detrimental to the conduct of the Hackathon, all as determined by Ahli Fintech in its sole discretion.

– The Hackathon is made available on an “as-is where-is” basis, and any and all implied warranties or duties are hereby disclaimed. Ahli Fintech may suspend and/or cancel and/or postpone the Hackathon at any time in its sole discretion.

– The Hackathon and these T&Cs are governed by the laws of the Jordan and any claims or disputes relating to the Hackathon and/or these T&Cs must be settled by the courts of Central Amman (Palace of Justice).

– If any portion of these T&Cs is determined by any court or governmental agency of competent jurisdiction to violate applicable law or otherwise not to conform to requirements of law, then the rest of these T&Cs will remain in effect and the parties will substitute a suitable and equitable provision for the invalid/unenforceable provision in order to carry out the original intent and purpose of the original T&Cs.

– The Participant may not assign, delegate or transfer their registration for the Hackathon and/or any of his/her rights or obligations under these T&Cs. Any attempted assignment, delegation or transfer shall be void.

– These Terms and Conditions together with any Hackathon registration represent Your entire agreement with Ahli Fintech with respect to the Hackathon. These terms cannot be modified or changed except with the written agreement of Ahli Fintech.