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Terms & Conditions

Terms and Conditions of the “BBVA Open Talent Entrepreneurs Program 2016"

The company Banco Bilbao Vizcaya Argentaria, S.A., with registered office in Bilbao, Pza. de San Nicolás, No. 4 and with CIF number A-48265169 (hereinafter “BBVA”), is going to carry out the "2016 BBVA Open Talent Entrepreneurs Program" (hereinafter, the “Program”). The purpose of this Program is to support projects included within the framework of development of technology-based innovative services that benefit the business or social environment (hereinafter, the “Projects” and each of them, a “Project”). 

1. Period of validity and registration

The period of validity of the Program (hereinafter, “Validity Period”) runs from 2 pm on March 14, 2016 (Spanish mainland time) to 2 pm on December 31, 2016 (Spanish mainland time), both inclusive. This period may be modified by BBVA and notified via the website indicated in point 3 below.

The period for registration in the Program (hereinafter, the “Registration Period”) runs from 2:00 pm on March 14, 2016 (Spanish mainland time) to 8:59 am on June 27, 2016 (Spanish mainland time), both inclusive. This period may be modified or extended by BBVA by means of notification via the website indicated in point 3 below.

Any reference to time in these Terms and Conditions refers to the geographic region of Madrid (Spain).

2. Geographic Scope

Spain and international.

3. Right to participate

The Program is open to all entrepreneurs who are natural persons (individual/professional entrepreneurs) and entrepreneurial companies who meet the following requirements together with any other requirement that may be requested in these Terms and Conditions (hereinafter, the “Participant/s”): (i) the entrepreneurial company must have been organized and registered on or after January 1, 2012; and (ii) the amount invested in the entrepreneurial company (either internally or externally) must not be more than €2,500,000 as of May 11, 2016; and (iii) the annual revenue of the entrepreneurial company in 2015 must be less than €1,500,000.

In the case of natural persons, in order to be able to take part in the Program, together with conditions (ii) and (iii) above (that will apply mutatis mutandis), they must be above the age of majority according to their country, state, province or jurisdiction of residence at the time of registration in the Program.

Participation in the Program will take place through the website www.bbvaopentalent.com under the section called “Registration”.

Participants wishing to take part in the Program must comply with the following requirements at the time of registration:

(i) Within the Registration Period, complete all the information requested for the Program on the website BBVAOpenTalent.com, URL: www.bbvaopentalent.com, regarding themselves and their Projects, including the email address designated by the Participants so they can be contacted for notifications, as indicated in these terms and conditions (the “Registered Email”).

(ii) The Project should offer products and services based on the use of new technologies at least in one of the following areas:

Fintech:

This includes Projects that use new digital technologies to create a new way of understanding and providing customer-oriented financial services, with the aim of improving user experience. These may be new services, technologies or solutions for the end customer (B2C), institutions (B2B or B2B2C), retail banking or corporate banking, (e.g. mobile banking, new services for banking customers, native banking, new products), payments (e.g. mobile point of sales, mobile commerce, money transfers, cryptocurrencies), lending (e.g. peer to peer lending –P2P, alternative lending systems, crowdfunding), risk analysis (e.g.: scoring, algorythms), insurance, wealth management and investment (e.g. accounting, personal finance management, investment management), trading, security (e.g. fraud detection, authentication), big data applied to financial services), financial platforms or technologies (e.g. APIs, open platforms), financial inclusion or financial education.

b. Fintech Related:

This includes non-financial products and services, that could potentially be used in the financial sector including  Projects that develop innovative solutions in sectors adjacent or related to the financial world, or currently not related but with the potential of being related to the financial world, for example: security (user identity management, transaction verification systems), new models of relations with customers (e.g., marketing tools, loyalty and prizes, open platforms), user experience (e.g: multichannel experience, UX, user interfaces), big data (e.g. data analysis, information aggregators), non-financial platforms and technologies (e.g. APIs, Non-Financial Open Platforms), and solutions for citizens or enterprises that may have impact or be useful in their financial lives (e.g. sectors such as tourism, education, health, smart cities and social networks).

(iii) Participants must be interested in receiving support from BBVA or from an institution in the BBVA Group. For these purposes, the BBVA Group is understood to comprise BBVA and its subsidiary companies/institutions, in the terms of article 42 of the Spanish Commercial Code.

(iv) Participants must register the Project in their corresponding region according to its country of residence. Each country is assigned to one of the three regions where the competition takes place (the “Regions”). Region I, BBVA Open Talent Europe includes the following countries: Albania, Andorra, Armenia, Austria, Azerbaijan, Belgium, Belarus, Bosnia and Herzegovina, Bulgaria, Cyprus, Croatia, Czech Republic, Denmark, Estonia, Finland, France, Georgia, Germany, Greece, Hungary, Iceland, Ireland, Israel, Italy, Kazakhstan, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Moldova, Monaco, Montenegro, Netherlands, Norway, Poland, Portugal, United Kingdom, Republic of Macedonia, Romania, Russia, San Marino, Serbia, Slovakia, Slovenia, Spain, Sweden, Switzerland, Turkey, and Ukraine. Region II, BBVA Open Talent Latin America includes the following countries: Argentina, Bolivia, Brazil, Chile, Colombia, Costa Rica, Cuba, Dominica, Dominican Republic, Ecuador, El Salvador, Guatemala, Guyana, Haiti, Honduras, Jamaica, Mexico, Nicaragua, Panama, Paraguay, Peru, Saint Kitts and Nevis, Saint Lucia, Suriname, Trinidad and Tobago, Uruguay and Venezuela. The other countries, along with the U.S. and Canada, are registered in Region III, BBVA Open Talent USA & Rest of the World. Individuals and entities whose registered address is in a country which has the consideration of Tax Haven under Spanish law are excluded from participating in this Program.

(v) Participants must have developed at least one fully-functional demo or beta prototype of the service or product with which they are participating in the Program. Projects will not be accepted in the phase of idea generation or conceptualization of products or services.

Projects may be presented in one (1) of the Regions, exclusively. The correspondent Region shall be selected by the Participant during submission and shall correspond to the Participant’s residence. The Panel (as defined in point 4, letter c) below) may change such designation in order to accurately correspond to the Participant’s residence, if necessary.

The following individuals and entities are excluded from participating in this Program:

1) BBVA employees and employees of BBVA Group institutions or any legal entities in which the same are executives or directors;

2) Members of the Evaluation Committee, Panel and Financial Inclusion Panel or any legal entities in which the same are shareholders, executives or directors;

3) Natural persons or companies that are part of the Program’s organization team; and

4) Winners from one of the previous BBVA Open Talent competitions.

To be eligible for the Supports (as defined and described in point 5 of these Terms and Conditions), the data supplied must be accurate and owned by the Participant. If, however, Participants provide false information or data not owned by them, their participation shall not be taken into account and they shall therefore be excluded from the Program and ineligible for any Support.

Participation in the Program implies the acceptance of the present Terms and Conditions and of BBVA's decision in the resolution of any conflict that may arise regarding their interpretation.

Participants may consult the present Terms and Conditions on the web page of the Program http://www.bbvaopentalent.com at any time during the Validity Period.

BBVA reserves the right to modify these Terms and Conditions. It also reserves the right to modify the mechanics for participation and the Supports. These modifications will be done under totally impartial criteria and will be duly notified to the Participants.

Participants must at all times follow the instructions given by BBVA, as the case may be.

4. Sections and Mechanics

4.1. Sections

The Program includes two (2) sections: Main Competition and Financial Inclusion Special Award.

4.1.1. Main Competition

The selection process for this section consists of the three (3) stages described below:

First stage - Receipt of Applications.

During the Registration Period, the applications will be received and filtered in order to determine those Projects that shall be considered Participants in accordance with these Terms and Conditions.              

Second stage - Project Evaluation.

During this stage, from July 28, 2016 to August 1, 2016 inclusive, an evaluation committee appointed by BBVA (the “Evaluation Committee”) will select a maximum of twenty (20) Projects in each of the Regions. The Evaluation Committee will select a maximum of sixty (60) finalist Projects (both the projects and their promoters may henceforth be referred to as the “Main Competition Finalists”).    

(c)    Third stage - Regional Events.

During this stage, the Main Competition Finalists will be invited, via the Registered Email, to the corresponding event in their region (each of them, a “Regional Event”), which will be held in England in Region I, in Mexico in Region II and in U.S. in Region III, at a venue to be determined by BBVA in each case. BBVA will not bear any Main Competition Finalist's travel or lodging costs incurred because of participation in these Regional Events.

Should a Main Competition Finalist, or the natural person acting on its behalf, be unable to attend the Regional Event, it may be attended by a different natural person, subject to prior notification by the Main Competition Finalist to BBVA by sending an email to opentalent@bbva.com and approval by BBVA.  The substitute attendee must meet the requirements for acting on behalf of the relevant finalist.

There will be a panel at each Regional Event (each of them, the “Panel”) that will be composed of seven (7) members, all of them will be appointed by BBVA, and will be experts in entrepreneurship.  The panelists may be BBVA employees.

At each Regional Event, the Main Competition Finalists will present their Project(s) before all those attending for Panel assessment. For this assessment, in addition to the provisions of the last paragraph in this section 4, Participants' communication skills and the quality of the presentations made to convey the Project's content will also be considered. Moreover, the members of the Panel may request interviews with the Main Competition Finalists before each Regional Event in order to get to know them better.

At each event, each Panel member will select six (6) Projects, which he/she will evaluate by distributing thirty four (34) points as follows: ten (10) points will be given to each of the two (2) Projects considered to be number 1, five (5) points will be given to each of the two (2) Projects considered to be number 2, and two (2) points will be given to each of the two (2) Projects considered to be number 3. Then the points assigned to each Project by all Panel members will be added together. In the case of a tie, the oldest member from among the Panel members appointed by BBVA will break the tie, choosing the Project(s) considered to be the best. The result of this process at each Regional Event will be the list with the final score for each Project (the “Main Competition List”), which will reflect the score obtained by all the Main Competition Finalists.

The two (2) Projects with the most votes at each Regional Event will be declared winners of the Regional Events (“Regional Winners”). There will therefore be six (6) Regional Winners, two (2) for each of the Regions. They will be notified of such condition at the end of each event. 

4.1.2. Financial Inclusion Special Award

The selection process for this section consists of the three (3) stages described below:

First stage - Receipt of Applications.

The first stage for this section will be the same than for the Main Competition (please sea 4.1.1 (a) above).

Second stage - Project Evaluation.

During this stage, from June 27, 2016 to August 8, 2016 inclusive, a panel will be created (hereinafter referred to as the “Financial Inclusion Panel”) comprising four (4) members selected among the BBVA employees and external persons, all experts in the field of financial inclusion.

Each Financial Inclusion Panel member will select three (3) Projects out of all the Projects presented by the Participants and assess them by distributing six (6) points as follows: three (3) points to the Project considered as number 1, two (2) points to the Project considered as number 2, and one (1) point to the Project considered as number 3.

The points awarded to each Project by all the members of the Financial Inclusion Panel will be added together. The Project with the most votes will be the Financial Inclusion Winner (together with the Regional Winners, the “Winners” and each of them, individually, a “Winner”). Should there be a tie in the number of votes for the Project(s) with the most votes, the member having the longest tenured experience in Financial Inclusion among the BBVA-appointed Financial Inclusion Panel members will break the tie by selecting the Project that he/she considers to be the best following the assessment criteria established in these Terms and Conditions for selecting the Financial Inclusion Winner. The result of this process will be included in a list (the “Financial Inclusion List” and together with the Main Competition List, the “Lists” and each of them, a “List”).

The Financial Inclusion Winner will be notified of such condition by email sent to the Registered Email on or before August 8, 2016.  

4.2 Rules applicable to all sections

If any of the stages or events referred to in the previous paragraphs cannot be held within the scheduled period or on the dates indicated, or need to be canceled temporarily for reasons beyond the control of BBVA, they will be held on the dates and in the periods considered appropriate by BBVA, and the Main Competition Finalists and/or Winners, as the case maybe, will be notified at the Registered Email. For reasons beyond the control of BBVA, these stages or events may also be canceled definitively, in which case the Main Competition Finalists and/or Winners, as the case maybe, will also be notified in the same manner.

Should Winners be unable to comply with the specifications of these Terms and Conditions or with the instructions given by BBVA, or if they do not accept the corresponding Support in the form and period established in these Terms and Conditions, BBVA reserves the right to (i) declare the position of the Winner null and void and, consequently, the corresponding Support or (ii) appoint another Winner, following the order established on the Lists.

The members of the Evaluation Committee, Panel and Financial Inclusion Panel:

shall act fairly and impartially, and if in the past or present they have had or have any kind of relationship with a Participant, they must notify this relationship in order to abstain from assessing this Participant's Project; may relinquish their position on these bodies without prior notification in the case of any circumstances beyond their volition and/or control, if they see fit to cease to be a member of such bodies; and will cease to exercise as such, and no longer occupy said position or abstain from their assessment or vote, in the case of the occurrence of circumstances that prevent this, such as –among others– having had or having any kind of relationship with the Participant.

The abstention or withdrawal of a member of the Evaluation Committee, the Panel or the Financial Inclusion Panel shall entail no disadvantage for the Participants. Should any of these circumstances arise insofar, BBVA will immediately appoint an equally qualified substitute. If a member of the Panel or the Financial Inclusion Panel cannot be substituted, the vote will be distributed equally among all members of the relevant panel present.

All the decisions taken by BBVA, the Evaluation Committee, the Panel and the Financial Inclusion Panel are considered final and binding. BBVA reserves the right to substitute or modify the composition of the aforementioned bodies at any time, and when, at its sole discretion, such substitution or modification is necessary or appropriate for the Program.

The probabilities of being a Main Competition Finalist or Winner (and of obtaining any of the Supports described in point 5 below) are related to the number of eligible Projects and their quality. Eligibility to become a Main Competition Finalist or Winner is neither contingent upon nor will special consideration be given to Participants making or having made any kind of purchase or payment, or being a customer of a BBVA Group entity during the Validity Period.

In the selection and voting of the Projects, particular consideration will be given to the Projects' capacity to transform its sector, the potential for economic or geographic growth of the business. BBVA is seeking the most innovative Projects with a potential to transform the financial sector. In addition, in the selection and voting of the Projects in the Financial Inclusion Special Award section, consideration will be given to the capacity of each Project presented by Participants to simplify or facilitate the access to banking services for persons, for reasons of their economic or social-cultural level, who are not bank users or whose access to such services proves difficult.

5. Value and nature of the support

Regardless of whether participation in the selection process of this Program leads to the enrichment of the Participants' professional experience and the enhancement of their Projects, this Program covers the following types of support (hereinafter, the “Support”) to be awarded to the Winners selected according to the mechanics described in Point 4 of these Terms and Conditions:

5.1. Trip to participate in the "Immersion and Interaction Program"

Each of the Winners (that is, each of the six (6) Regional Winners and Financial Inclusion Winner) will receive a Support comprising a trip for one person to participate in the international event "Immersion and Interaction Program" at the location and date scheduled by BBVA. The value of this support will depend on and match the market value of the corresponding transport tickets and hotel fees.

The trip will include roundtrip transportation for each Winner from a major gateway airport/train station nearest the Winner’s place of residence and hotel accommodation (one (1) standard hotel room) -costs which will naturally derive from their participation in the "Immersion and Interaction Program"-. These expenses will in all cases be determined by BBVA for the Winner (in the case of a legal entity, for a natural person acting on behalf and in representation of this entity).

Should a Winner, or the natural person acting on its behalf, be unable to attend the "Immersion and Interaction Program" event, a different physical person may attend in his/her/its place, so long as the Winner sends BBVA prior notice thereof and requests authorization to do so via email to opentalent@bbva.com, and provided that the substitute meet the requirements for acting on behalf of the Winner where pertinent. BBVA shall send notice of the decision regarding this authorization by email to the Registered Email.

The Winner must bear in mind that a credit card may be required thereof when registering at the hotel, though a valid ID, passport or equivalent document must be carried at all times to be able to travel.

BBVA shall select the transport and accommodation fees that it considers to be the most appropriate. Likewise, BBVA reserves the right to select the dates and times for transport at its own discretion. After selecting the travel dates, no changes thereto may be made.

Once the Winner is in possession of the transport tickets and hotel voucher, BBVA assumes no further liability or obligation for the loss, misplacement or theft thereof. BBVA accepts no liability for any delay, cancellation, substitution or any other action of similar nature regarding any reserved transportation or hotel accommodation.

Winners must comply with all indications given insofar as the present Support, otherwise the Winner assumes that the right to receive the Support may be forfeited.

Winners or, as the case may be, their representatives, are the sole parties liable for their own actions and conduct during the trip, accommodation and participation in the international “Immersion and Interaction Program” event.

5.2. Economic Support for Regional Winners

Each of the six (6) Regional Winners will receive a Support comprising the delivery of thirty thousand euros (€30,000). The Regional Winners warrant that the support of €30,000 they receive will be used to develop a project in collaboration with BBVA or one of the Entities of the BBVA Group, to which effect, in the maximum period of one (1) year from the expiration of the Validity Period, each of the six (6) Regional Winners should reach an agreement with BBVA or an entity of the BBVA Group in this regard.

The Financial Inclusion Winner will not receive this support.

5.3. Trip for the Financial Inclusion Winner

The Financial Inclusion Winner (the rest of the Winners will not receive this Support) will receive a trip for one person to present his/her Project at a relevant international event, related to financial inclusion, to be determined by BBVA in BBVA’s sole discretion. The value of this support will depend on and match the market value of the corresponding transport tickets and hotel fees. The trip will include roundtrip transportation for the Financial Inclusion Winner from a major gateway airport/train station nearest the Winner’s place of residence and hotel accommodation (one (1) standard hotel room) - costs which will naturally derive from the participation in the international event above mentioned-. These expenses will in all cases be determined by BBVA for the Financial Inclusion Winner (in the case of a legal entity, for a natural person acting on behalf and in representation of this entity).

Should the Financial Inclusion Winner, or the natural person acting on its behalf, be unable to attend the relevant event, a different physical person may attend in his/her/its place, so long as the Financial Inclusion Winner sends BBVA prior notice thereof and requests authorization to do so via email to opentalent@bbva.com, and provided that the substitute meet the requirements for acting on behalf of the Winner where pertinent. BBVA shall send notice of the decision regarding this authorization by email to the Registered Email.

The Financial Inclusion Winner must bear in mind that a credit card may be required thereof when registering at the hotel, though a valid ID, passport or equivalent document must be carried at all times to be able to travel.

BBVA shall select the transport and accommodation fees that it considers to be the most appropriate. Likewise, BBVA reserves the right to select the dates and times for transport at its own discretion. After selecting the travel dates, no changes thereto may be made.

Once the Financial Inclusion Winner is in possession of the transport tickets and hotel voucher, BBVA assumes no further liability or obligation for the loss, misplacement or theft thereof. BBVA accepts no liability for any delay, cancellation, substitution or any other action of similar nature regarding any reserved transportation or hotel accommodation.

The Financial Inclusion Winner must comply with all indications given insofar as the present Support, otherwise the Financial Inclusion Winner assumes that the right to receive the Support may be forfeited.  The Financial Inclusion Winner or, as the case may be, its representative, is the sole party liable for its/his/her own actions and conduct during the trip, accommodation and participation in the above mentioned event.

6. Notification and acceptance of Supports and tax matters.

6.1. Notification and acceptance of Supports

BBVA will notify the Winners of the Supports in the manner described below:

a) The Winners will be notified by BBVA of the Support they will receive in accordance with point 4 above.  

b) From the time the notification indicated in section a) above is sent, the Winners will have a period of five (5) working days to contact BBVA at the email address opentalent@bbva.com to expressly manifest their willingness to accept the corresponding Support. If this period of five (5) working days has elapsed and the Winner has not been in contact with BBVA, it will be understood that he/she has not accepted and loses the right to obtain the corresponding Support, and BBVA shall be freely entitled to make use of it. However, BBVA may declare the Support null and void or appoint a new Winner in the same manner as described in point 4.

c) In the same five (5) working days indicated in paragraph b) above, the Winners will provide BBVA via the email address opentalent@bbva.com with their Tax Identification Number (NIF) or Company Tax Identification Number (CIF) or equivalent in their country, full names and address. The Winners must at the same time provide the details of their bank account where they will receive the transfer of financial support. In this notification the Winners must also indicate the mailing address to which they wish to be sent one of the copies of the acceptance contract.

For the purposes of withholding or paying on account the Personal Income Tax (IRPF) that may be applicable and in the case the application of a Treaty for the avoidance of Double Taxation is invoked, a Tax Residence Certificate in force must be provided, issued by the tax authorities in the Winner's country of residence, and sent to the following email address opentalent@bbva.com within a maximum period of thirty (30) working days calculated from the notification indicated in section a) above. Failure by BBVA to receive this Certificate of Tax Residence in force within the period and in the form indicated, where required, will prevent the avoidance of double taxation.

All taxes with a state and/or local nature and all costs that may not be specified in these Terms and Conditions shall be the Winner's responsibility. The Winner will be solely responsible for paying any tax and/or cost derived from the relevant Support notwithstanding the provisions of the penultimate paragraph of point 6.2 below.

d) Once the Winners have completed all the steps indicated in the above sections and provided all the data and information requested, BBVA will send them the contract of acceptance of the Support by email (to the Registered Email). The Winners must review the contract and, if they agree, sign all the pages in duplicate. Once the aforementioned contract has been reviewed and signed as indicated (in duplicate and on all the pages), it must be delivered to BBVA: (i) by sending it to the mailing address indicated by BBVA in the instructions contained in the same email accompanying the contract of acceptance, and (ii) sending a scanned copy to the email address opentalent@bbva.com.

In the case that BBVA does not receive the contract of acceptance signed by the Winners within a period of twenty (20) working days, the Winners will lose their right to receive the corresponding Support, and BBVA will be entitled to use it freely. This period of twenty (20) working days will be calculated from the day BBVA sends the email to the Winners for the purposes of delivering the aforementioned contract of acceptance to them, as mentioned in the preceding paragraph.

e) Once the contract signed in duplicate and –where applicable– the Certificate of Tax Residence in force have been received by BBVA, it will sign this contract and return one of the copies to the Winner, by sending it to the mailing address indicated by the Winners on the email addressed to BBVA for this purpose, and expressly manifesting their willingness to accept the Support (email mentioned in section b of this point 6).

f) Once these steps have been completed, BBVA will carry out the actions and procedures necessary to deliver the Support:

(i) For the trip to the "Immersion and Interaction Program" international meeting and to the  event referred to in 5.3 above, BBVA will contact the Winners via the Registered Email and request the necessary details before making the travel and hotel reservations.

(ii) For the support of thirty thousand euros (€30,000) awarded to each Regional Winner, BBVA will make the transfer to the bank account indicated by them for this purpose, and mentioned in section c) above. This delivery should occur no later than six (6) months from the date the acceptance contract signed by BBVA has been sent to the Winner, as stated in section e) above.

The Supports in this Program are non-transferable and may in no case be the object of exchange, alteration, compensation or financial payment at the request of the Winner(s).

BBVA is not responsible for the use made by the Winner of the Support. Marketing and/or sale of the Supports are prohibited.

BBVA reserves the right to change the Supports for another of equal or greater value if circumstances occur to hinder or prevent their delivery.

Completion of the Winner's identification and tax data is mandatory and necessary before the Support can be awarded, and thus the absence of any such data shall entail the loss of entitlement to the Support obtained. 

6.2. Tax matters.

The Supports in the present Program are governed by Law 35/2006 of November 28 approving the Personal Income Tax and the partial amendment of the Laws on company, non-resident income and wealth tax; Law 26/2014, of December 27, that amends the later; Royal Decree no. 439/2007, approving its regulation and subsequent amendments; Royal Decree-Law 5/2004 of March 5, approving the revised text of the Non-resident Income Tax Act (IRNR), (also amended by Law 26/2014, of December 27); Royal Decree 1776/2004 of July 30, approving the Regulation of Non-Resident Income Tax; Law 27/2014, of November 27, on Company Tax; Royal Decree 1777/2004 of July 30 approving the Regulation on Company Tax: Law 13/2011 on Gambling Regulation and other related provisions and set forth in its development, and therefore, in that case, BBVA shall be responsible for making the payment on account or the corresponding withholding of the Personal Income Tax (IRPF), Non-Resident Income Tax (IRNR) or Company Tax.

In accordance with the mentioned regulation, Participants are informed that the Supports granted for the participation in games, contests, raffles, drawings or random combinations related to the sale or promotion of goods or services are considered capital gain subject to withholding tax or payment on account of the aforesaid taxes if the value of the Prize exceeds three hundred euros (€300). For this purpose the rate of payment on account established by law at any given time will be applied, currently 20% for residents of the European Union or the European Economic Area (Norway and Iceland) and 24% for all other non-residents without permanent establishment, unless these last two cases are covered by a Treaty to avoid double taxation signed by Spain, in which event it shall be as specified in that Treaty.

Any tax consequences on the Winners' tax situation as a result of obtaining the Support will be borne by the Winners themselves, thus releasing BBVA from any liability. For this purpose, BBVA will issue and send the Winners a certificate with the data corresponding to the prize after the end of the calendar year.

In order to comply with the above, the Winners must provide BBVA, in the time and manner specified in paragraph c) above, their Personal Tax ID or Company Tax ID, as appropriate, full name and address, for the purpose of withholding or paying on account the IRPF that may be applicable. In the event the application of an Agreement for the avoidance of Double Taxation is invoked, the Tax Residence Certificate in force must be provided, issued by the tax authorities of the Winner's country of residence.

7. Handling of personal data and contents

Participation in the Program implies acceptance by the Participant of the Younoodle privacy policies available at the url: https://ww2.younoodle.com/terms/.

In compliance with the specifications of Organic Law 15/1999 of December 13 on Data Protection, and Law 34/2000, of July 11 governing services provided in the information society and e-commerce, the Participants expressly authorize BBVA to access, process and store the personal data provided for participation in the Program on the Younoodle platform and any other support or tools that may be used for this purpose, in addition to other data they may provide in the event they are named Winners. The Participants also authorize BBVA to incorporate the data obtained from their participation either via the Younoodle platform or directly by BBVA (including recording, filming or taking photographs for the purposes of public reproduction and communication) into a file under the ownership of BBVA, in order to carry out the processes of registration, participation, assessment of the proposals, granting of the Support and other tasks of communication, information and promotion associated to the Program. This information will be processed and stored using the technical and organizational security measures required by law to ensure the security of the data and to prevent its manipulation, loss or unauthorized handling or access, according to the state of the technology and the nature of the information and the potential risks to which it might be exposed.

The Participants also authorize BBVA to use the information in the above paragraph for the purposes explained therein –unless the Participants expressly specify their opposition to this processing– for the sending, by any means, including email or other equivalent mode of electronic communication, of information on events, products and services related to the field of innovation, without this authorization entitling the Participant to any remuneration or benefit.

The authorization mentioned in paragraphs two and three of this point 7 may be revoked at any time by the Participant by notifying BBVA: opentalent@bbva.com. Given that the authorization referred to in paragraph 2 above is essential for the development of the Program, its revocation will imply the automatic withdrawal of the Participant from the Program.

The file owner is Banco Bilbao Vizcaya Argentaria, S.A., with registered address at Plaza de San Nicolás 4, 48005, Bilbao. The Participants may exercise their rights to access, rectify, cancel or oppose the data free of charge in the terms specified in Organic Law 15/1999 on Data Protection and its regulatory implementations, at the email address opentalent@bbva.com. These rights cannot be exercised retroactively.

The Participants authorize and give their express consent for BBVA and the following institutions in its Group: BBVA Bancomer, S.A., Institución de Banca Múltiple, Grupo Financiero BBVA Bancomer and Compass Bank, to publicly use their personal data (including their image and voice), trademark and logo, and in case of Winners also the contents of their Projects, for any promotional and advertising uses or activities and for activities designed to disseminate the present Program, including their publication on the different websites owned by BBVA and/or the aforementioned institutions in its Group. This use by BBVA and by the aforementioned institutions in its Group will not entitle the Participants to any retribution or benefit. Participants expressly renounce any type of action or claim against BBVA or the aforementioned institutions in its Group due to these activities for advertising, promotional and dissemination purposes. Participants consider themselves to have been notified of this concession to these institutions by virtue of the present clause. The consent provided herein by the Participants is irrevocable in nature and at all times devoid of retroactive effects. All the data and information requested for this purpose are mandatory and essential for the development of the Program.

The images, videos, records, creative material and recordings and, in general, any graphic, audio, visual or audiovisual material, regardless of the support or communications method in which they are materialized, or disseminated (hereinafter, the Elements) that may have been made by BBVA and/or the aforementioned authorized institutions in its Group, shall be the property of these institutions respectively, and it shall be understood that the Participants cede all rights of exploitation over them on an exclusive basis. BBVA or the aforementioned institutions shall have the right to use the Elements and subject them to any adaptation, modification, variation, or transformation as long as this does not involve modifying the personal information of the Participant in the Elements.

The rights over the data and information referred to in this point 7 are granted with no limitation to the geographical scope and for all the Validity Period plus one (1) additional year as from the date of termination of the said period. All the information and data will be conserved by BBVA and –where applicable– by the aforementioned institutions in the BBVA Group, for the Validity Period plus one (1) additional year as from the date of termination of said period.

In the event that on behalf of the Participant acts an individual, this provides all the authorizations and consents set out in this point 7 in relation to data and information of its own and has the rights and manner of exercising them established in this point 7, with regard to such data and information. In case that the individual that intends to act on behalf of the Participant is not the one who has applied for registration of said Participants, before acting on behalf of the relevant Participant this individual shall expressly agree in writing to the provisions of this point 7.

With the exception of the use authorized herein and necessary to manage the participation in the Program, the copyright of the Projects and their contents will remain under the ownership and/or control of the Participants.

Except where expressly stipulated and authorized in these Terms and Conditions, the Projects may not be used or distributed without the explicit consent of the owning Participants.

The Participants must guarantee that the Projects and their information are owned by them and are contributed voluntarily to the present Program, and in no case contravene the current applicable legislation or infringe any type of third party rights (particularly those pertaining to intellectual and industrial property), and are at all times in possession of the necessary authorization to participate in the present Program. They also guarantee that the Projects and their information are not offensive, nor demeaning, incite to violence, racism, or infringe the fundamental rights or public freedoms recognized by the applicable law and the law on the protection of childhood and youth; and do not constitute or represent an intrusion into the personal or family privacy of natural persons, nor an infringement of the right to honor of third parties or the secret of communications. Furthermore the Participants declare that they have been granted all the necessary rights of intellectual and industrial property over their respective trademarks and logos.

The Participants shall be held solely liable for any infringements and damages caused or that may be caused to the rights of third parties through the participation of their Projects in this Program, and shall compensate the third parties affected and BBVA and/or the aforementioned institutions in its Group for any damages incurred by the breach of their obligations in the present Program and the present Terms and Conditions.

The Participants shall therefore hold BBVA and the aforementioned bodies in its Group harmless at all times from any claims by third parties, and the Participants shall be solely liable to assume fully whatsoever costs or monetary encumbrances may be due in favor of third parties as a result of actions, claims or conflicts derived from non-compliance and/or inaccuracy or lack of truthfulness of the obligations established in the present Program and in these Terms and Conditions. Thus, if a third person files a claim against BBVA for violation of any intellectual property and / or industrial rights, Law 15/1999 of 13 December (Act), or any other without limitation; the Participant is obliged to compensate BBVA of any amounts related with this claim.

The Participants acknowledge that BBVA and/or any other BBVA Group entity may have been or may be working on developing applications or businesses that are similar to the Projects and Participants acknowledge that BBVA and/or those entities are free to make use thereof without being able to make a claim to any of them in this regard.

8. Notary

The Terms and Conditions of this Program, written in Spanish language and translated to English language, have been deposited for public registration on 14 March 2016 before the Madrid Notary Public Mr. Antonio Pérez-Coca Crespo, at Calle Monte Esquinza, 6 Planta Baja, 28010, Madrid.

9. Modifications and exemption from liability

If the Program cannot be held due to the detection of fraud, technical errors or for any other cause beyond the control of BBVA and which affects its normal development, BBVA reserves the right to cancel, modify or suspend this Program. BBVA reserves the right to modify the conditions and dates of the Program with due notice.

BBVA may not be held liable for any delays or any other circumstances caused by third parties that may affect the participation in or development of the Program.

BBVA reserves the right to automatically eliminate any Participants and their Projects if they: (i) cheat, alter or invalidate the proper operation and normal development of the Program according to its rules, or (ii) engage in improper practices to increase profitability, such as the use of insider information, wrongful manipulation, etc., or (iii) infringe or fail to comply with any type of regulation, or (iv) violate, infringe or affect any type of rights and liberties, or (v) engage in any type of practice that may be considered contrary to the spirit of the Program.

BBVA shall not be held liable for damages of any kind that may be caused by the temporary unavailability or continuity of the operation of the system that enables participation in the Program.

BBVA shall not be held liable for delays in the mail or in the telecommunications networks with respect to records, submission of data, delivery of Support, and –among others– shall not be held liable for the loss, deterioration, theft or delay of the same.

BBVA does not accept responsibility if the Participants’ or Winners' data are incorrect or if it is unable to contact them through no fault of BBVA.

Under no circumstance whatsoever shall BBVA be responsible for loss, damage, or prejudice of any type that could result from accessing and using the website bbvaopentalent.com and younoodle.com, including but not limited to, damage caused to computer systems or as a consequence of computer viruses and/or attacks. Furthermore, BBVA shall not be held liable for any damage that the Participants may sustain as a result of improper use of the above-mentioned website, or for any failure, interruption, absence or defect in telecommunications.

10. Acceptance of the terms and conditions

Participation in this Program implies the full acceptance of the Terms and Conditions established herein and the express submission to the interpretation of the Terms and Conditions made by BBVA.   

11. Legislation and Jurisdiction

Any issue deriving from the application, interpretation or compliance of the Program, its Terms and Conditions and any documentation generated in and for this Program shall be resolved under Spanish legislation, and specifically the Courts and Tribunals of Madrid. Spanish law governs this Program. Everybody who has filled a form with the information requested on the website bbvaopentalent.com in the section called “Registration” and the Participants expressly renounce any other law or jurisdiction to which they might be entitled.

These rules have been translated into English language. In the event of any disagreement, dispute, controversy, or contradiction between these and its English translation occurs, will prevail for all purposes the rules written in Spanish language.

12. Competition Results

Program results will be announced to the Participants once the process set at section 4 is completed, through the web of Program www.bbvaopentalent.com.