SOCIEDAD CANARIA DE FOMENTO ECONÓMICO S.A. (PROEXCA) - Terms and Condi.ons for Par.cipa.on in the Business Ambassadors Programme to A:ract Foreign ...

 
SOCIEDAD CANARIA DE FOMENTO ECONÓMICO S.A. (PROEXCA) - Terms and Condi.ons for Par.cipa.on in the Business Ambassadors Programme to A:ract Foreign ...
Terms and Condi.ons for Par.cipa.on in the Business Ambassadors Programme to A:ract Foreign Direct
                                                                  Investments to the Canary Islands
                                      SOCIEDAD CANARIA DE FOMENTO ECONÓMICO S.A. (PROEXCA)
                                                                                              2021

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INDEX OF CONTENTS

1. BACKGROUND .....................................................................................................3
2. PROGRAMME DESCRIPTION ..............................................................................3
2.1. Name.............................................................................................................................................. 3
2.2. Purpose.......................................................................................................................................... 3
    2.2.1. Generation of Qualified Leads ...............................................................................................3
    2.2.2. Establishment of a New Company/Business in the Canary Islands ......................................4
2.3. Business Ambassador Levels ........................................................................................................4
2.4. Benefits of the Programme ............................................................................................................5
2.5. Commission ...................................................................................................................................6
    2.5.1. Commission for Generating Qualified Leads .........................................................................6
    2.5.2. Commission for the Establishment of a new company/business in the Canary Islands .......8

3. BASIC REQUIREMENTS FOR ALL APPLICANTS ............................................ 10
4. BASIC OBLIGATIONS FOR BUSINESS AMBASSADORS ...............................10
5. SUBMITTING APPLICATIONS TO PARTICIPATE IN THE PROGRAMME ........11
6. THE BUSINESS AMBASSADOR SELECTION PROCESS................................ 13
7. SELECTION RESULTS AND PUBLICATION ..................................................... 13
8. SELECTION COMMITTEE ..................................................................................13
9. PERSONAL DATA PROTECTION....................................................................... 13
Annex I. Business Ambassador Application Form ...............................................................................15
Annex II. Sworn Declaration of Responsibility ....................................................................................16
Annex III. Investment Opportunity Presentation Form ........................................................................17
Annex IV. Glossary of Terms ...............................................................................................................21
Annex V. Template Confidentiality Contract ........................................................................................23
Annex VI. Template Service Contract .................................................................................................27

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1. BACKGROUND
With its “Opera2onal Strategy to Interna2onalise the Canary Island Economy” (hereinaQer,
“EOIEC”), the Regional Government of the Canary Islands seeks to transform the Canary Islands
archipelago into a logis.cs and business hub so the islands can become a:rac.ve for interna.onal
investment capable of boos.ng the Canary Island economy while also strengthening the islands as a
centre for economic and social rela.ons in the mid-Atlan.c and West Africa. The ul.mate goal is to
create jobs and generate new opportuni.es for the business fabric on the islands.
This strategy has produced a list of 65 projects or ini.a.ves with deliverable targets and specific
resources. They include an ini.a.ve en.tled “B.17.1. To launch a programme of incen.ves for
external advisors”.
PROEXCA is therefore launching a business ambassadors programme to iden.fy and a:ract direct
foreign investment projects to the Canary Islands that will be governed by the following TERMS
AND CONDITIONS FOR PARTICIPATION.

2. PROGRAMME DESCRIPTION

2.1. Name
The “Business Ambassadors Programme” is an incen.ve programme aimed at external professionals
of business development for a:rac.ng direct foreign investment to the Canary Islands in those
sectors defined as priori.es by the Regional Government of the Canary Islands and, more
specifically, by the Strategy to A:ract Investment to the Canary Islands of PROEXCA, the en.ty
managing this programme.
Annex IV contains a glossary of specific terms used in this document and is an part of these Terms
and Condi.ons for Par.cipa.on.

2.2. Purpose
PROEXCA seeks to achieve two fundamental goals through this programme:

2.2.1. Genera.on of Qualified Leads
In other words, opportuni.es to a:ract foreign investment projects to the Canary Islands with a
good likelihood of success (the achievement of goal 2 below).
If this goal is achieved, the business ambassador will receive the benefits of the programme based
on their level as defined in Sec.on 2.3 and, where appropriate, according to the requirements and
amounts specified in Sec.on 2.5 and the individual agreement reached with the business
ambassador.
A qualified lead will be understood as a lead that meets both of the following requirements:
  ●   Defini.on as such by the assigned PROEXCA officer, who believes the lead has real interest in
      terms of possible establishment in the Canary Islands (this assessment will be based on the
      level of prior interac.on by e-mail, telephone, etc.) and because a simple business case exists.
  ●   The contact/intermediary/representa.ve from the poten.al investor company (lead) travels
      to the Canary Islands to find out more about possibly sefng up business here and a:ends
      mee.ng with PROEXCA in person in the Canary Islands. If the lead visits the Canary Islands but
      a specific mee.ng with PROEXCA cannot be held due to excep.onal and jus.fied
      circumstances, the op.on to organise a remote conference mee.ng will be considered a
      posteriori. For that to happen, the business ambassador will need to provide the following
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documenta.on:
            o Boarding cards of the company/investor for their trip to the Canary Islands.
            o An e-mail containing confirma.on and details of the mee.ng between the business
              ambassador and poten.al lead in the Canary Islands.
            o A signed declara.on of responsibility from the business ambassador sta.ng that a
              mee.ng was held between the business ambassador and the poten.al lead, as well
              as verifica.on of the lead’s interest in inves.ng in the Canary Islands.

In the event of a global pandemic, remote mee.ngs a:ended by the lead, the business ambassador
and PROEXCA will be considered.

In any case, the contact persons presented in Annex III must be directly responsible for making
decisions about possible investment in the Canary Islands and must be the same person who visits
the Canary Islands and meets with PROEXCA.

Addi.onally, a qualified lead may also be considered as a project undertaken by a Site Selector in
which inclusion of the Canary Islands is accredited on a final short-list of loca.ons, provided that the
following condi.ons are also met:

  • The lead must have a real interest in inves.ng in the Canary Islands, represent an opportunity
    for the Canary Islands and be accepted by PROEXCA.
  • The Site Selector must put PROEXCA in contact by e-mail with the lead, who must be directly
    responsible for decision-making.
  • A visit by the lead to the Canary Islands must be organised or, otherwise, a remote conference
    with PROEXCA (for the la:er, PROEXCA will always have final say on the acceptance of said
    format).

2.2.2. Establishment of a New Company/Business in the Canary Islands
This is a success-based goal; i.e., the investment is ul.mately made in the Canary Islands. The
business ambassador will receive the corresponding incen.ve if this goal is achieved, provided that
the requirements and amounts indicated in Sec.on 2.5.2 and in the individual agreement with the
business ambassador have been met.

2.3. Business Ambassador Levels
Business ambassadors par.cipa.ng in this programme will be classified into three levels, from
lowest to highest: Bronze, Silver and Gold. Each level will be associated with certain benefits and
different requirements, which will increase for each level. PROEXCA will be exclusively responsible
for assigning business ambassadors to the different levels.

  ●   Bronze: This level will enable PROEXCA to “test” the suitability of the business ambassador in
      ques.on. All poten.al business ambassadors that pass the selec.on process (defined in

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Sec.on 6, Stage III) will enter the programme at this level.
      Benefits of the programme (Sec.on 2.4) they may access: 1 to 4, inclusive. In this case, Benefit
      1 will only take effect through “ini.al” accredita.on.

  ●   Silver: A Bronze business ambassador may be raised to Silver status when they have
      generated at least:
         o Two qualified leads, or the effec.ve implementa.on of one investment during the last
           year in the Canary Islands
      For those poten.al business ambassadors with no prior professional experience with the
      Canary Islands, PROEXCA may consider raising them to Silver status if they are in a posi.on to
      show evidence of at least:
         o The effec.ve implementa.on of three investments in the rest of Spain amoun.ng to
           more than 500,000 euros of investment, or five outside of Spain that exceed an
           investment of 1M€, in the last year.
      Benefits of the programme (Sec.on 2.4) they may access: all except 7 and 8.

  ●   Gold: Those business ambassadors whose ac.vity produces the recurring a:rac.on of leads
      and the effec.ve implementa.on of investments may be raised to Gold status, with which all
      of the benefits of the programme can be enjoyed. “Recurring a:rac.on” will be considered
      as:
         o The annual (12 months counted from the date of registra.on as a business ambassador)
           a:rac.on of more than 10 leads and/or the effec.ve implementa.on of more than five
           investments or a total a:racted investment of at least 3M€ in the last two years (see
           Annex IV).
      For those poten.al business ambassadors with no prior experience with the Canary Islands,
      PROEXCA may consider raising them to Gold status if they are in a posi.on to show evidence
      of at least:
         o The effec.ve implementa.on of more than ten investments or a total a:racted
           investment of at least 10M€ in the last two years.
      Benefits of the programme (Sec.on 2.4) they may access: all.

2.4. Benefits of the Programme
1. Empowerment: Receipt of a non-transferable Business Ambassador Le:er from PROEXCA
   accredi.ng the holder as a PROEXCA business ambassador, lending reliability and trustworthiness
   to the holder vis-à-vis possible investors. The corresponding confiden.ality commitment
   between the par.es will apply to this accredita.on.
  PROEXCA reserves the right to withdraw said accredita.on at any .me following prior
  no.fica.on to the business ambassador in ques.on.
2. Informa.on: The business ambassador will receive sufficient and specific informa.on from
   PROEXCA about the regula.ons and rules applicable in the Canary Islands, specific details about
   the various business sectors, success stories about companies already set up on the islands and

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other examples to support the a:rac.on of leads, enabling ac.on to be taken with poten.al
  investors.
3. Promo.onal informa.on and dossiers: Both the documenta.on and necessary dossiers to act as
   a business ambassador containing all the specific informa.on for approaching each sector in
   par.cular (as suggested by PROEXCA), without prejudice to any ac.ons that the business
   ambassador may decide to take at any given .me based on their own criteria.
4. Ins.tu.onal support: Support through PROEXCA from public and/or private interna.onalisa.on
   stakeholders in the Canary Islands for the role of intermediary played by the business
   ambassador (e.g. a:endance at key mee.ngs, conference calls, video calls, etc.).
5. Assigned PROEXCA officer: A contact person at PROEXCA will be assigned for the business
   ambassador and/or investor to contact in person in order to improve and facilitate
   communica.on for intermediary ac.ons.
6. Commission: target-based incen.ves, defined below.
7. Investor a:rac.on events: Investment a:rac.on events or missions, either requested by
   PROEXCA from the business ambassador or jointly organised by PROEXCA and the business
   ambassador. This op.on is only available to Gold business ambassadors. The terms and
   condi.ons for this op.on will be determined by PROEXCA for each event specifically, the
   organisa.on of which will be .ed to and dependent on the existence of budgetary provisions.
8. Ins.tu.onal contact priority: Priority access to mee.ngs with senior members of PROEXCA, as
   well as the Economic Affairs, Knowledge and Employment Council of the Regional Government of
   the Canary Islands. A request must be made in advance for such mee.ngs, and an agenda must
   be provided. PROEXCA will consider the suitability of such mee.ngs, the intermediary and
   requirements to be met in each case for access to this op.on.

2.5. Commission
The following target-based incen.ve model will be applied, .ed to and dependent on the existence
of budgetary provisions. The incen.ves will be issued in strict order of approval.

2.5.1. Commission for Genera.ng Qualified Leads
   a. Amount
     The incen.ve to be paid to the business ambassador when the lead is given qualified status by
     PROEXCA will amount to € 1,000 net for those leads coming from strategic sectors as defined
     by PROEXCA.
     If the business ambassador has been given Silver status recently, at the end of the current
     year, PROEXCA will consider the possibility of paying any amounts corresponding to leads
     obtained as a Bronze business ambassador and to the specific agreement with the business
     ambassador according to budgetary availability.
  b. Requirements
     The business ambassador will be en.tled to receive the commission if they have presented
     the opportunity to PROEXCA (i.e., the opportunity reached PROEXCA through the business
     ambassador). To prevent fraud, the following evidence must be included in such lead
     presenta.ons for acceptance:
           o Sufficient details about the company: name, tax code, headquarters, website,
             professional social media profiles, etc.

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o Contact details of the decision-maker regarding establishment in the Canary Islands.
        o Short text explaining why the lead should be considered as an opportunity.
        o The e-mails sent by the business ambassador to PROEXCA should include copy to a
          legal representa.ve or individual in a posi.on of responsibility at the poten.al
          investor company (lead). The business ambassador must have already obtained
          express authorisa.on from the lead to send the documenta.on and include the lead
          as visible copy in the e-mail.

  Incen.ves will only be paid for those leads corresponding to possible investments by
  companies whose main registered address is outside of Spain and with a minimum ini.al
  investment of 100,000 euros and/or the crea.on of at least two permanent jobs in the first
  year of business. They must also be economically and financially viable. This informa.on must
  be presented to the assigned PROEXCA officer for assessment by the Selec.on Commi:ee
  (see Annex III).

  The assigned PROEXCA officer must have previously recognised the lead presenta.on as valid
  following review of all the documenta.on presented by the business ambassador and the
  investor company (lead). As far as possible, this process will take place in coordina.on with
  the PROEXCA Overseas Network representa.ve for the country of origin of the investment.
  Furthermore, the business ambassador must have previously signed an ini.al framework
  contract with PROEXCA enabling the payments, as well as issued the corresponding invoice.

  To prevent fraud, the business ambassador must vouch for the accuracy of the informa.on
  provided to the PROEXCA officer at all .mes. If this informa.on is incomplete, vague or false,
  the lead may be rejected or the business ambassador expelled from the programme.
  The lead presenta.on must be communicated by duly comple.ng and signing the template in
  Annex III and sending it with the corresponding documenta.on to the assigned PROEXCA
  officer.

c. Exclusions
  Incen.ves will not be received for a:rac.ng investments from companies (leads) in the
  following sectors:
        o Hospitality
        o Tourist accommoda.on
        o Construc.on
        o Retail trade
        o Real estate
        o Others considered as non-strategic, unless they represent a significant opportunity to
          create jobs and investment. In such cases, PROEXCA will consider an incen.ve of €
          300 net per lead, payable at the end of the current year and subject to budgetary
          availability

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In order to incen.vise investment from certain countries (e.g. France, UK, USA) and sectors (e.g.
pharmaceu.cal, outsourcing, ICT), an addi.onal amount of € 300 net per lead (this bonus will only
be applied to those leads coming from strategic sectors) may be added to the afore-men.oned
commission. PROEXCA will communicate the countries and/or sectors in each case that will
generate this possible incen.ve bonus, always subject to budgetary availability.

2.5.2. Commission for the Establishment of a new company/business in the Canary Islands

  a. Amount
     This will be calculated on the net amount of the “fixed” amount, which will depend on the
     source of the investment and its sector, as well as the “variable” amount, which will depend
     on the amount of the investment and number of jobs created in the Canary Islands. The
     corresponding amount of each column in the following table will be combined:

  b. Requirements
     The assigned PROEXCA officer must have previously recognised the existence and evidence of
     the investment and/or company in the Canary Islands for the first .me by means of sufficient
     original documenta.on to support this.
     This incen.ve will only be paid for investments coming from outside the Canary Islands.
     Provided that the investments take place in the Canary Islands Economic Zone (ZEC), this
     incen.ve will not apply if the ZEC Consor.um has a specific incen.ves programme for this
     type of business crea.on. The incen.ve will always be applicable for non-ZEC investments.

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Given that sefng up a company or project may require more or less .me to complete,
evidence of each milestone in the process must be shown to receive 100% of the
commission. Hence, each accredited milestone within a single business crea.on process will
lead to receipt of a percentage of the total incen.ve. The milestones for which evidence must
be shown are:
   1) Origin of the investment capital outside of the Canary Islands. This milestone represents
      en.tlement to receive 5% of the total incen.ve once evidence has been shown and will
      lead to cancella.on of the commission if not presented. A passport and cer.ficate of
      bank account ownership at source must be provided.
   2) Business plan for the company/project rela.ng to its establishment in the Canary
      Islands. This milestone represents en.tlement to receive 5% of the total incen.ve once
      evidence has been shown and will lead to cancella.on of the commission if not
      presented. A report on the project in ques.on must be provided.
   3) Incorpora.on/registra.on of the company. Inscrip.on of the company in the Companies
      Register must be provided, with record of the registered address or opening of a
      permanent branch or establishment for the first .me in the Canary Islands, as well as a
      cer.ficate of registra.on for Trading Income Tax (IAE) and/or other per.nent taxes in
      the Canary Islands. For projects, the existence thereof must be demonstrated by
      providing original and authorised copy of documenta.on demonstra.ng the investment
      made, including the iden.ty of the investor, the ini.al amount and loca.on in the
      Canary Islands. This milestone represents en.tlement to receive 60% of the total
      incen.ve once evidence has been shown and will lead to cancella.on of the commission
      if not presented.
   4) Execu.on of the investment. A scheduled and executed investment plan report must be
      provided, accompanied by cer.fica.on issued by the company itself. This milestone
      represents en.tlement to receive 15% of the total incen.ve once evidence has been
      shown.
   5) Job crea.on. Cer.ficates for the registra.on of employees with the Spanish Social
      Security system must be provided (Informe de Alta de Trabajadores en la Seguridad
      Social). This milestone represents en.tlement to receive 15% of the total incen.ve once
      evidence has been shown.

Providing evidence for each one of these steps will lead to en.tlement to receive a
percentage of the total incen.ve. In the event that the overseas origin of the capital, the
business model or proof of company incorpora.on/project crea.on cannot be provided, there
will be no en.tlement to receive the incen.ve. If the en.re implementa.on process cannot
be demonstrated, the commission will be paid up to the level for which evidence has been
shown.
Nonetheless, if evidence of execu.on of the investment or crea.on of jobs cannot be shown
when presen.ng milestones 1, 2 and 3 because these ac.ons have not yet taken place, it will
be possible to show evidence for said milestones during subsequent financial years while this
programme remains ac.ve and budgetary provisions exist.
The business ambassador must have previously signed an ini.al framework contract with
PROEXCA enabling said payments, as well as issued the corresponding invoice.

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To prevent fraud, the business ambassador must vouch for the accuracy of the informa.on
     provided to the PROEXCA officer at all .mes.

3. BASIC REQUIREMENTS FOR ALL APPLICANTS
Applicants failing to meet the following minimum requirements when submifng their applica.on
will be excluded from the process:
    1) Be of legal age.
    2) At least one year of experience in economic ac.vi.es related to the business ambassador
       field and/or significant .es to relevant stakeholders in the target markets for the
       programme. This experience must be demonstrated by submifng a CV containing details of
       said experience or, in the case of legal en..es, a business report suppor.ng its experience
       and knowledge of the market. Regardless of the nature of the business ambassador,
       relevant background informa.on must be provided about the ini.a.ve in all cases to
       support suitability as a business ambassador and, in par.cular, classifica.on in one of its
       levels (Gold, Silver, Bronze) according to Sec.on 2.3).
    3) The business ambassador also undertakes to inform PROEXCA of any change to their
       personal or professional circumstances that might possibly affect the correct opera.on of
       this programme, cons.tute a conflict of interest or affect the confiden.ality commitment.

4. BASIC OBLIGATIONS FOR BUSINESS AMBASSADORS
Simply by joining the programme, business ambassadors accept the following basic obliga.ons:

    1) The business ambassadors accepted onto the programme undertake to iden.fy and a:ract
       foreign investment projects to the Canary Islands.
    2) The business ambassadors undertake to draw up a small dossier (max. two pages in Calibri
       font size 12 and simple line spacing) in Spanish or English, which may include any clarifying
       annexes deemed necessary for the assessment of each investment project they are involved
       in, providing a summary of the investment opportunity iden.fied.
    3) Those business ambassadors achieving Silver or Gold status will be required to sign the
       per.nent contract to support their economically incen.vised ac.vity.
    4) The business ambassador is liable for the accuracy of any documenta.on presented. The
       presenta.on of false informa.on, suspicious investor/company profiles or any other
       prac.ces that may be considered unlawful or contrary to the interests and spirit of the
       programme will be grounds for exclusion of the business ambassador without the chance
       for re-acceptance to this or future edi.ons of the programme.
    5) Business ambassadors will act in good faith at all .mes in accordance with the good name,
       image and iden.ty of PROEXCA. They will also ensure the authen.city and truthfulness of
       the results from their ac.vity that they provide to PROEXCA.

In addi.on, to show evidence of each lead and/or business/project establishment, the business the
documents specified and these must be received before 09th December 2021 at 23:59.

All communica.on and documenta.on rela.ng to the programme must be sent to the following e-

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mail address: ambassadors@canaryislandshub.com, this being the only valid channel set up for this
purpose, in Spanish or English (no documenta.on and/or communica.on sent to any other e-mail
address or channel will be accepted).

Furthermore, each document provided by the business ambassador must use the following format:
  ●   Documents in PDF format, legible (not hand-wri:en, Calibri font size 12 with simple line
      spacing) and in good resolu.on. Where appropriate, they must also contain a recognised, not
      a scanned signature.
  ●   Each document must be sent in separate files with the following nomenclature: “BUSINESS
      AMBASSADOR CODE_DOCUMENT NAME”. The recep.on of various documents in a single PDF
      file will not be accepted.

5. SUBMITTING APPLICATIONS TO PARTICIPATE IN THE PROGRAMME
a. Stage I: Publica.on of the Terms and Condi.ons for Par.cipa.on on the website at
   www.proexca.es and on any other economic promo.on portals deemed appropriate.
The period for submifng applica.ons will begin on the terms and condi.ons are published on said
website. Interested par.es must send their applica.on and the documenta.on necessary to
par.cipate before 1 December 2021 at 23:59.
All communica.on and documenta.on rela.ng to the programme must be sent to the following e-
mail address: ambassadors@canaryislandshub.com, this being the only valid channel set up for this
purpose, in Spanish or English (no documenta.on and/or communica.on sent to any other e-mail
address or channel will be accepted).
In addi.on, each document provided by the business ambassador must use the following format:
  ●   Documents in PDF format, signed and scanned, legible and with good resolu.on.
  ●   Each document must be sent in separate files and with the following nomenclature:
      “BUSINESS AMBASSADOR CODE_DOCUMENT NAME”.

Documenta.on to be presented:

   1. Duly completed and signed applica.on form (Annex I)
   2. Duly completed and signed sworn declara.on form (Annex II)
   3. In case of presenta.on as Individuals you must also add:
        ●   Official ID
        ●   Full CV: the sec.on on experience must at least contain the following accredited content
            and informa.on:
              o Details of the en.ty you worked at (name, tax code, website).
              o Department, Service or equivalent.
              o Posi.on held and/or job .tle.
              o Responsibili.es.
              o Descrip.on of the tasks performed.
              o Where appropriate, period of .me spent at the en.ty.

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o As well as any other documenta.on referring to your CV and the informa.on
                 needed for inclusion in the incen.ves programme and alloca.on of par.cipa.on
                 level status according to Chapter I.C.
   4. In case of presenta.on as Legal en..es you must also add:
         ●   Copy of the NIF/CIF (tax code).
         ●   Document accredi.ng the legal nature and capacity to act of the representa.ve.
         ●   Deed of incorpora.on or document accredi.ng the legal nature and legal capacity of the
             legal en.ty being proposed as a business ambassador.
         ●   Report on business during the last two financial years.
         ●   Accredita.on including the informa.on necessary for inclusion in the programme and
             alloca.on of par.cipa.on level according to Sec.on 5 Stage III.

b. Stage II: Checking the documenta.on submi:ed and compliance with requirements:
Failing to complete the applica.on form to par.cipate and/or failing to a:ach the documenta.on
indicated in the previous sec.on will exclude the applicant from par.cipa.on in the incen.ves
programme and, consequently, from this process.

c. Stage III. Assessment of applica.ons:
Each one of the applica.ons and set of documents submi:ed will be assessed by a Selec.on
Commi:ee made up by PROEXCA officers.
This commi:ee will allocate applying business ambassadors to one of the levels defined above. On
reasoned grounds, it may also decide to reject applica.ons to par.cipate in the programme due to
a failure to meet the basic requirements, due to the same being clearly insufficient for par.cipa.on
in the programme, due to the existence of a conflict of interest or due to any other circumstances
that may hinder the applica.on or throw suspicion over the legal nature thereof.
At any .me during the process, applying business ambassadors may be required to present original
copy of documents for verifica.on against the copies presented, present addi.onal documenta.on
or a:end face-to-face interviews.
For alloca.on of ini.al business ambassador level status, or changes thereto over .me, the
poten.al or established business opportuni.es and the category of the projects involved therein
will be taken into considera.on for the Silver and Gold levels according to the following criteria:

  ●   Bronze:This level will enable PROEXCA to “test” the suitability of the business ambassador in
      ques.on. All poten.al business ambassadors that pass the selec.on process (defined in
      Sec.on 5, Stage III) will enter the programme at the Bronze level.
  ●   Silver:When a business ambassador has demonstrated their worth (e.g. by genera.ng at least
      two qualified leads or the effec.ve establishment of an investment), they may be raised to
      Silver status and enjoy the corresponding benefits.
  ●   Gold:Those business ambassadors whose ac.vity leads to the recurring a:rac.on of leads and
      the effec.ve establishments of investments may be raised to Gold status, for which all
      benefits in the incen.ves programme can be enjoyed.

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6. THE BUSINESS AMBASSADOR SELECTION PROCESS
An updated list of business ambassadors accepted onto the programme and ini.ally allocated to a
level will be published on the PROEXCA website at www.proexca.es.
The results of assessment of suitability for the programme will be communicated by e-mail to the
address for no.fica.on purposes provided by the interested party in the applica.on form. In the
event of rejec.on, the interested party will be en.tled to lodge an appeal within two working days
from being no.fied.
Each applicant will be assigned an iden.fica.on code for this process in order to maintain
confiden.ality, protec.on of their personal data or their own commercial or economic interests.
During the selec.on process, applicants may be asked to provide clarifica.on or addi.onal
informa.on about the details included in their applica.on, CV or suppor.ng documenta.on.
All communica.on with PROEXCA during this process must take place via the e-mail address
ambassadors@canaryislandshub.com.
If the details provided in the applica.on form lack either par.al or full evidence, this will lead to
changes in alloca.on to the provisional and/or final lists.

7. SELECTION RESULTS AND PUBLICATION
The list of successful applicants and the level to which each successful applicant is assigned will be
published and updated on the PROEXCA website at www.proexca.esin anonymous fashion, using
the code assigned to each applying business ambassador for iden.fica.on purposes to maintain
confiden.ality and protect their personal data and own commercial or economic interests.

8. SELECTION COMMITTEE
The Selec.on Commi:ee is made up by at least three people appointed by PROEXCA and will be
responsible for analysing the documents submi:ed by applicants, ensuring compliance with the
requirements, assessing professional and personal skills, and deciding to accept applying business
ambassadors and assigning their level in the programme (both ini.al and final), as well as
responding to any issues and complaints that may arise during the process.
Whenever deemed necessary, the Selec.on Commi:ee may receive external professional support
and/or advice for ensuring compliance with the requirements and assessing the professional and
personal skills of applicants at any stage of the process.
Without prejudice to the ini.al level allocated to the business ambassador at the end of the
business ambassador selec.on process, the Selec.on Commi:ee will meet on a regular basis to
update the allocated levels in view of the requirements that the business ambassadors may have
met under Sec.on 2.3).

9. PERSONAL DATA PROTECTION
Pursuant to the principle of transparency and the right to informa.on enshrined in Ar.cle 13 of the
General Data Protec.on Regula.on, we hereby provide you with the following informa.on:

●   The Data Controller: Sociedad Canaria de Fomento Económico S.A. (PROEXCA). With registered
                                                                                                    13
address at Emilio Castelar 4, 5ª Planta, 35007 Las Palmas de Gran Canarias and Spanish Tax Code
    (NIF) A38282455.
●   The Data Protec.on Officer: Dataseg Consultores y Auditores, S.L., with registered address at
    Calle Rafael Hardisson Spou, 16, entreplanta, of. 7. 38005, Santa Cruz de Tenerife. Contact
    details: Tel.: (34) 922 215 406. E-mail: dpoproexca@dataseg.es
●   Processing purpose: The data you provide to us during the selec.on process in this project will
    be processed for the purpose of responding to your applica.on to par.cipate in the incen.ves
    programme for business ambassadors. The data that may be collected during the course of the
    rela.onship that may be established with PROEXCA will be processed for the purpose of
    managing the partnership rela.onship between the par.es.
●   The lawfulness of processing your data with regard to your applica.on to par.cipate in the
    incen.ves programme for business ambassadors stems from the consent provided by the
    par.cipa.ng individuals who, freely and in an informed manner, decide to par.cipate. In the case
    of contact persons at companies and other organisa.ons, the lawfulness stems from the
    legi.mate interest of PROEXCA to process their contact details. In the event that formal
    partnership rela.ons are established aQer being chosen as a business ambassador, the
    lawfulness of processing the personal data of contact persons or staff of the chosen companies
    stems from the performance of the contract between the business ambassador and PROEXCA.
●   Data storage: Your personal data will be kept for 10 years following conclusion of the selec.on
    process or the contractual rela.onship that may be established. The purpose for storing your
    data is to show evidence of said rela.onship and its effects when required to do so by
    administra.ve and judicial authori.es or to show evidence of ac.ons in defence against possible
    complaints.
●   Data recipients: whenever deemed necessary, the personal data provided in the various forms
    may be shared with:
               o The competent public authori.es in compliance with the corresponding fiscal,
                 mercan.le, financial and tax obliga.ons.
               o The necessary third par.es for managing the contractual or pre-contractual
                 rela.onship. Banks and building socie.es, etc.
●   Rights: you are en.tled to withdraw your consent at any .me. You are also en.tled to exercise
    your rights to access, rec.fy or erase your data and, under certain circumstances, to limit data
    processing or request data portability. You are en.tled to lodge a complaint with the competent
    control agency if you do not agree with any response related to the exercise of your rights.
To exercise your data protec.on rights, you may request the corresponding forms from us or
download them from the Spanish Data Protec.on Agency. We will respond to your request within
30 days.

In Santa Cruz de Tenerife on____________of _____________________of 2021
Signed

                                                                                                 14
Annex I. Business Ambassador Applica2on Form
Mr. / Ms. / Company Name: _________________________________________________________________
In their own name or on behalf of: ____________________________________________________________
Date of birth:______________________________________________________________________________
Address:_________________________________________________________________________________
Country:_________________________________________________________________________________
NIF/CIF: _________________________________________________________________________________
Telephone: _______________________________________________________________________________
E-mail:___________________________________________________________________________________

If ac.ng as a representa.ve, details of the power of a:orney:

A:ach copy of the documenta.on listed in Sec.on 5 and the documenta.on to support representa.ve
 status, as appropriate.

DECLARES
That they are aware of the PROEXCA BUSINESS AMBASSADOR SELECTION PROCESS and the terms
and condi.ons governing said programme as published on the PROEXCA website.
That they accept and agree with the Terms and Condi.ons for Par.cipa.on in the programme.
That they are not subject to any of the prohibi.ons against contrac.ng indicated in Spanish Law
9/2017 on Public Sector Contracts.

AND HEREBY REQUESTS:
To be included in the ‘Business Ambassadors Programme’ selec.on process of the company called
Sociedad Canaria de Fomento Económico S.A. (PROEXCA) in accordance with the Terms and
Condi.ons for Par.cipa.on governing said ini.a.ve.

In ____________________, on _____________of ___________________of 2021

Signed:

*This FORM must be signed and submi:ed as a formal requirement for access to the process. Personal data protec.on: see Sec.on VIII of the Terms
 and Condi.ons for Par.cipa.on.

                                                                                                                                              15
Annex II. Sworn Declara2on of Responsibility
The applying business ambassador: ___________________________________________________________
Name / Company Name: ____________________________________________________________________
NIF / ID document / Passport: ________________________________________________________________
With address at:___________________________________________________________________________

HEREBY DECLARES AND CERTIFIES THAT:

     1. They are not in any situa.on that restricts and/or prevents their ac.vity as a PROEXCA
        business ambassador in the programme of incen.ves for foreign investment in the Canary
        Islands under the legisla.ve framework governing incompa.bili.es for staff in the public,
        State, regional government or European sector.
     2. They are not subject to any legal proceedings that restrict and/or prevent the development
        of ac.vity involved in the incen.ves programme for foreign investment in the Canary
        Islands.
     3. They have no criminal record.
     4. They are not subject to any prohibi.on or compe..on restric.ons or the exercise of a
        second professional and/or labour ac.vity, nor conflict of interests.

They undertake to maintain the aforemen.oned circumstances throughout the .me they hold the
status of business ambassador under the PROEXCA ‘Business Ambassadors Programme’.

In _______________________________, on ____ of _______________________ de 2021

Signed:

*This document must be signed and submi:ed as a formal requirement for access to the process. Personal data protec.on: see Sec.on VIII of the
 Terms and Condi.ons for Par.cipa.on.

                                                                                                                                                16
Annex III. Investment Opportunity Presenta2on Form

 AMBASSADOR’S INFORMATION

 Name/Company

 ID/Passport

 BAP Code

 OPPORTUNITY PRESENTED

 Nombre/Razón Social

 NIF/DNI/Pasaporte

 Adress

 Person of Contact                  It has to be a decision-maker, who will be suscep.ble to being contacted by
                                    PROEXCA. In case of not being a decision maker or having an indirect implica.on,
                                    the lead may be rejected

 Email

 Phone

 Linkedin profile (or equivalent)

 Website

 Sector

 Country of Origin

 BASIC INFO ABOUT THE INVESTMENT/COMPANY/PROJECT

 Abstract (maximum 200 words)

 Annual billing volume (mark the appropriate box)

   ☐            0-2M€              ☐           2M-5M€                ☐           5M-10M€   ☐           +10M€

 Expected crea2on of full-2me employments           (mark the appropriate box)

   ☐              2-5              ☐                6-25             ☐            26-100   ☐            +100

 Amount of investment to be done (mark the appropriate box)

                                                                                                                   17
☐          100.000-2M€          ☐          2M-5M€              ☐       5M-10M€              ☐       +10M€

  Estrategic momento of the company/project/investment (mark the appropriate box)

   ☐       In interna.onal expansion                              ☐   Seeking new loca.ons ac.vely

   ☐       In reduc.on of costs/expenses                          ☐   Development of new products, IP or innova.on

   ☐       In an organized re-structura.on                        ☐   Other (specify):

  SUPPORTING DOCUMENTATION PROVIDED (mark the boxes which apply)
                               ☐       Enough informa.on about the company/investor/lead
                               ☐       Datos de contacto de la persona responsable en la toma de decisiones de la
                                       posible implantación o inversión en Canarias
            Lead
                               ☐       Contact details of the decision maker about the possible investment in the
  (Iden.fica.on of a possible
         investment)                   Canary Islands
                               ☐       Contact (by email) between the lead and PROEXCA
                               ☐       Other (specify):
                               ☐       Origin of the investment
                               ☐       Ac.vity plan
       Implanta2on
                               ☐       Crea.on and / or registra.on of the company / project
    (when the investment
           occurs)
                               ☐       Employments crea.on
                               ☐       Investment effec.ve execu.on

The assigned PROEXCA officer, Mr./Ms. _____________________________________________________STATES THAT
THE LEAD PRESENTED IS:

          ☐ ACCEPTED

          ☐ REJECTED (select reason)

               ☐ INSUFFICIENT SUPPORTING DOCUMENTATION
               ☐ OTHER REASONS:

In Santa Cruz de Tenerife, on_________of ___________________ of 2021

Signed:

                                                                                                                     18
INVESTMENT DESCRIPTION REPORT

1. Name of the project 1
2. Legal Form
          ☐ Sociedad Limitada
          ☐ Sociedad Anónima
          ☐ Sucursal
          ☐ Otra forma jurídica, especificar cuál:
3. Ac2vity Code (CNAE)
Include the list of the main ac.vi.es of the investment to be done in the Canary Islands, including the CNAE
code.

4. Amount and loca2on of the investment in their two first years
     a. Amoun (€):
     b. Loca.on:

5. Number of job crea2on in the Canary Islands company
     c. Es.mated annual average of employment:
     d. Es.mated annual roster during the previous economic year before the establishment in the Canary
        Islands:

6. Descrip2on of the economic ac2vi2es to do.
Complete and clear descrip.on about the ac.vi.es to be done in Canary Islands.

7. Cer2fica2on of the viability of the business project.
It must include the income statement, the pension balance and the financing table.

8. Cer2fica2on of economic and technical solvency.
The economic solvency will be accredited by presen.ng bank cer.ficates referring to the en.ty or, in case of
not having cons.tuted this, of its promoters.
The technical solvency will be accredited by providing informa.on on the business or professional
experience of the promoter partners and technical training of the staff that is expected to be hired

9. Accredita2on of the ability to compete interna2onally.
The ability to compete interna.onally will only have to be proven when the development of economic
ac.vi.es in interna.onal markets is foreseen.

1 El prescriptor declara y certifica que los datos contenidos en esta memoria son fidedignos.

                                                                                                          19
In this case, the interna.onal compe..veness of the business project will be deemed to have been
accredited when a descrip.on of the commercial policies and strategies for ac.on in interna.onal markets is
made from which the acceptance of the goods and services offered in the markets to which they are direct
in similar condi.ons to others already marketed in them.

10. Accredita2on of the contribu2on to the economic and social development of the Canary Islands..
The contribu.on to the economic and social development of the Canary Islands must be sufficiently
jus.fied, being able to provide informa.on and documents deemed appropriate.

11. Other informa2on.
Applicants may submit a:ached to the report as much informa.on as deemed appropriate for a be:er
understanding of the scope of the project using the effects of the Annex included in the model.

                                                                                                         20
Annex IV. Glossary of Terms
Below is a list of specific terms used in the Terms and Condi.ons for Par.cipa.on:

  1. Business ambassador (prescriber): An individual or legal en.ty that, having met the profile
     requirements defined in the terms and condi.ons for par.cipa.on and being up-to-date with
     their tax, fiscal and Social Security obliga.ons, etc. to this end, is in a posi.on to engage in
     ac.vity to achieve the goals of the programme and a:ract poten.al investors at whom the
     programme is targeted in accordance with the Terms and Condi.ons for Par.cipa.on. This
     includes all those interna.onal professionals and companies whose main ac.vity is to find
     new sites for expanding companies (Site Selec.on) and that are members of an accredited site
     selectors associa.on.
  2. Leads: An opportunity to a:ract a foreign investment project to the Canary Islands. This
     includes both projects and investors (individuals and legal en..es) that might be a:racted to
     and set up business in the Canary Islands.
  3. Qualified lead: A lead that is likely to achieve Goal 2 of the programme. A qualified lead will
     be understood as one that meets two requirements:
       a. It is defined as such by the assigned PROEXCA officer; and
       b. The contact/intermediary/representa.ve travels to the Canary Islands for a mee.ng
          with PROEXCA in person.
  4. Business ambassador credibility:
       4.1. Credibility will be given to individual business ambassadors when the same has a
       professional profile with a university degree or similar - or equivalent in Spain for foreign
       business ambassadors - and proven professional experience and minimum levels of
       conversa.onal Spanish or English as well as the language of the country of origin of the
       investment ini.a.ve presented as a lead to PROEXCA.
       4.2. Credibility will be given to legal en.ty business ambassadors based on their
       demonstrated experience and business sector, which must include at least the deed of
       incorpora.on of the company or similar public document.
  5. Recurring akrac2on: The annual (12 months counted from the date of registra.on as a
     business ambassador) a:rac.on of more than 10 leads and/or the effec.ve implementa.on
     of more than five investments or a total a:racted investment of at least 3M€ in the last two
     years.
  6. Effec2ve establishment:
       6.1. Referring to a project/investment taking place in the Canary Islands: Evidence of this
       must be shown by providing original and authorised copy of documenta.on demonstra.ng
       the investment made, including the iden.ty of the investor, the ini.al amount and loca.on
       in the Canary Islands. Cer.fica.on by the competent authorising authority or, as
       appropriate, cer.fica.on of project execu.on. Equivalent documentary evidence.
       6.2. Referring to the incorpora.on of a new company: Inscrip.on of the company in the
       Companies Register, with record of the registered address or opening of a permanent branch
       or establishment for the first .me in the Canary Islands, as well as a cer.ficate of registra.on
       for Trading Income Tax (IAE) and/or other per.nent taxes in the Canary Islands. Opening of a
       work centre, where appropriate. Equivalent documentary evidence.

                                                                                                  21
7. Assigned PROEXCA officer: This is the intermediary appointed by PROEXCA to independently
   support management of this programme and to exercise the powers given to them by these
   Terms and Condi.ons for Par.cipa.on in the programme, and whom the business
   ambassador and/or investor may contact to improve and facilitate communica.on for the
   work thereof as intermediary.
8. Target market: This refers to the foreign investment projects (leads) that the programme
   seeks to a:ract.
9. Business Ambassador Leker: This is a document issued by PROEXCA cer.fying business
   ambassador status, en.tling the holder to present possible leads, make contacts and conduct
   ac.ons to a:ract leads, thereby lending credibility to cer.fied PROEXCA business
   ambassadors.
10.Presenta2on of opportunity: This refers to when a lead contacts PROEXCA or PROEXCA
  contacts a lead (poten.al investor) as a direct result of ac.on or interven.on by the business
  ambassador. The assigned PROEXCA officer is responsible for classifying the presenta.ons of
  opportunity provided by each business ambassador as such following presenta.on of the duly
  completed document in Annex III together with the corresponding documentary evidence.
11.Incen2ves: the amounts of the incen.ves will always be referred to gross amounts.

                                                                                             22
Annex V. Template Confiden2ality Contract
DATA PROTECTION - Sociedad Canaria de Fomento S.A. (PROEXCA)
Confiden2ality and Secrecy Clause
We have always sought to strictly comply with all legisla.on, especially that governing personal data
protec.on.
Under your rela.onship with Sociedad Canaria de Fomento, S.A. (hereinaQer, PROEXCA), you may
gain access to personal data or informa.on of a confiden.al nature, or not, that is owned by or
regarding which PROEXCA is the data controller. Pursuant to the data protec.on regula.ons
governing opera.ons by PROEXCA, we inform you that said rela.onship is or will be governed by
the following terms and condi.ons:

ONE. Insofar as that you may process personal data for which PROEXCA is legally responsible, you
undertake to comply with the data protec.on and informa.on security policy of said en.ty. In
par.cular, you must:
   1. Process the data according to the instruc.ons received from PROEXCA.
   2. Refrain from sharing the data with third par.es, even for storage purposes.
   3. Apply the technical and organisa.onal security measures necessary, in accordance with
      Ar.cle 32 of Regula.on (EU) 679/2016, the General Data Protec.on Regula.on.
   4. Use the personal data, or not, solely for the purposes and func.ons for which they were
      collected.
   5. To return the informa.on, and destroy any copy you have of it, upon conclusion of your
      rela.onship with PROEXCA. In the event that, for reasons of compliance with regula.ons,
      you are required to keep a blocked copy of all or part of the informa.on, this situa.on must
      be immediately communicated to PROEXCA.
   6. In the event of a security breach in which personal data may be involved, management and
      communica.on of the incident must take place according to the provisions of Regula.on EU
      679/2016, the General Data Protec.on Regula.on.
The above obliga.ons must also be applied to all that informa.on considered as “confiden.al
informa.on”.

TWO. You undertake to only access any informa.on, confiden.al or not, from PROEXCA that is
contained either in the computer systems thereof or on any other physical, electronic or telema.c
support or medium if such access is necessary for the rela.onship maintained between the par.es
or if specific express authorisa.on is provided to access data not .ed to your professional du.es.

THREE. For the effects and purposes of the above, “confiden.al informa.on” will be understood as
all informa.on of a numeric, alphabe.c, graphic, photographic, acous.c or any other nature that
can be collected, recorded, processed or transferred concerning an iden.fied and iden.fiable
individual that may directly or indirectly determine the physical, physiological, psychological,
economic, cultural or social iden.ty of the individual in ques.on.

                                                                                                  23
The aforemen.oned informa.on includes the following types of informa.on (whether a record
thereof exists or not) but does not exclude other types of similarly confiden.al informa.on:
techniques, training programmes, tests, research and development, ideas, inven.ons, concepts,
designs, drawings, organisa.onal charts, processes, procedures, know-how, formulas, data,
programs, improvements, discoveries, marke.ng materials and techniques, research and
development plans, marke.ng, new products, client names, commercialisa.on channels, trade
secrets and any other informa.on related to clients and suppliers, price lists, pricing policies, sales
policy, financial informa.on, budgets, templates and management and accoun.ng methods.

FOUR. You recognise that the organisa.on owns all the data, knowledge of any nature made
available to you, reference materials, notes, diagrams, drawings, memoranda, documenta.on and
recordings in any format and on any support that may include or reflect any Confiden.al
Informa.on, as well as the rights, .tles and interests that it may claim over the inven.ons, whether
patentable or not, produced or obtained by you during the term of your rela.onship in accordance
with the provisions of the current Spanish Patents Act.

FIVE. You accept and recognise that the inven.ons, ideas, computer programs, applica.ons or any
other kind of crea.ve work that may be conceived or produced, in whole or in part by the Data
Controller, during or aQer the term of employment, that are produced by making use of any
Confiden.al Informa.on or any of the equipment, installa.ons, trade secrets or material resources
of the Data Controller or that result from any work carried out by you will exclusively belong to the
Organisa.on and are considered part of the Confiden.al Informa.on for the effects and purposes of
this Agreement.
The informa.on provided does not en.tle or give licence to the receiving company over the brands,
copyright or patents that belong to the provider. The disclosure of informa.on does not imply the
transfer or issue of rights unless express provisions are drawn up in that regard.

SIX. You undertake to no.fy PROEXCA of all incidents that occur at the Organisa.on, these being
understood to mean any anomaly affec.ng or poten.ally affec.ng the security of personal data or
any kind of informa.on, whether confiden.al or not, that could nega.vely affect PROEXCA. Said
no.fica.on must contain clear iden.fica.on of the incident and a detailed descrip.on thereof,
which must at least include: the moment (date and .me) at which it occurred, details of the
no.fying individual and the individual to whom the incident is no.fied, effects stemming from the
incident and the correc.ve measures adopted.

SEVEN. Compliance with the obliga.ons contained in this Agreement is indefinite and will remain in
effect following conclusion, on any grounds, of the rela.onship between you and the Organisa.on.

To that end, you guarantee that, following conclusion of the rela.onship, you will maintain the
same level of professional secrecy regarding the confiden.al informa.on and the personal data to
which you may have gained access during the performance of your du.es.

EIGHT. You will be liable to PROEXCA and Third Par.es for any damages that may be incurred by
anyone for non-compliance with the aforemen.oned obliga.ons, poten.ally leading to the launch
                                                                                                    24
of legal ac.on and legal claims for any compensa.on, penal.es and damages that the Data
Controller may be required to remedy as a result of said non-compliance.

NINE. Personal Data Protec.on Informa.on
Pursuant to the principles of the General Data Protec.on Regula.on EU-679/2016, we inform you
that the provision of services offered by PROEXCA implies the necessary processing of personal
data.
Data controller: Sociedad Canaria de Fomento Económico S.A. – PROEXCA Data protec.on officer:
Dataseg Consultores y Auditores S.L. (dpoproexca@dataseg.es)
   1. Data processing purposes:
          Management of pre-/post-contractual rela.ons and for our own administra.ve
          management.
          Lawfulness: as expressed in Ar.cle 6.1.b. “performance of a contract/in order to take
          steps prior to entering into a contract” and Ar.cle 6.1.c. “for compliance with legal
          obliga.ons to which we are subject”.
   2. Storage: un.l the data are no longer needed for the purpose for which they were collected
      and for the legal periods applicable to the data controller regarding civil, mercan.le, financial
      and tax ma:ers.
          If you authorise us to do so, to publish your data (name and photo/video) on our website
          and social media.
          This will be lawful due to the consent you provide, Ar.cle 6.1.a. GDPR.
          Storage: un.l you decide to withdraw consent for this purpose/erase the published
          content.
          In this regard, we ask for your consent to capture and publish images in which you appear
          on our social media profiles and websites.

☐ Yes, I accept the capture/publica.on of photos on social media/website   ☐NO, I do not consent.

Interna.onal transfers:
If you authorise the publica.on of images on social media, you also authorise the interna.onal
transfer of data made under the US-EU Privacy Shield agreement. Furthermore, we inform you that
PROEXCA receives the services of Gsuite, which also implies a data transfer protected under the
aforemen.oned agreement. More informa.on: h:ps://www.privacyshield.gov/welcome

Rights: You are en.tled to access your data. Under certain circumstances, you may also rec.fy and
erase your data; oppose or restrict the processing of your data; and request data portability. You
may withdraw your consent at any .me, without such ac.on affec.ng the lawfulness of any data
processing carried out prior to the withdrawal of consent.

                                                                                                    25
You may exercise the aforemen.oned rights by reques.ng the corresponding Exercise of Rights
forms from the EMPLOYER or by using those available from the Spanish Data Protec.on Agency. You
must delivery them in person or by standard post, together with a copy of a valid iden.ty
document. Delivery details: PROEXCA at Calle Imeldo Serís, 57. 38003, Santa Cruz de Tenerife. Your
request will be answered within one month.

You are en.tled to lodge a complaint with the Spanish Data Protec.on Agency in the event that you
believe your rights have been obstructed.
If any of your data are subject to changes, we ask that you duly no.fy us in wri.ng so that we may
keep your data up-to-date at all .mes.
You are en.tled to withdraw your consent at any .me, without such ac.on affec.ng the lawfulness
of any data processing prior to the withdrawal thereof.
You and Sociedad Canaria de Fomento, S.A. undertake to amicably resolve any disagreement that
may arise during the course of the rela.onship.
The two par.es agree that any dispute will be examined by the Courts and Tribunals of Santa Cruz
de Tenerife, expressly waiving the right to any other jurisdic.on.

In witness whereof, this CONFIDENTIALITY AND SECRECY CLAUSE is signed.

First and Last Name:
ID Document/Passport:
Signed:

                                                                                               26
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