Disclaimer.

The Platform is a venue for the publication and dissemination of offers concerning Swiss SME transactions. It is an information service, operated under Swiss law, outside the regulated perimeter of financial-market infrastructure. Three positions follow from that, and they are not aspirational, they are the operating model.

The Platform imposes no mandatory rules on the definition or structure of any Transaction. The terms, conditions, and modalities of the Transaction are negotiated freely between the Buyer and the Seller, without intervention by smemarket.ch.

The Platform does not, by default, act as a representative of the Seller, of the Buyer, or of any Fiduciary or other intermediary. It does not negotiate on behalf of any party, does not bind any party, and does not warrant any party's position.

The Platform never holds shares, assets, funds, or other values of any kind on behalf of the Buyer, the Seller, or any Fiduciary or other intermediary. Its function is limited to publishing and disseminating the offers of the parties. Settlement occurs directly between the parties' banking institutions.

The Operator acts as an introducer (Mäkler) within the meaning of Articles 412 et seq. of the Swiss Code of Obligations. The Operator is, in particular:

• · not a financial intermediary under the Swiss Federal Act on Combating Money Laundering and the Financing of Terrorism (AMLA / GwG);
• · not a regulated investment firm under the Financial Services Act (FinSA / FIDLEG) or the Financial Institutions Act (FinIA / FINIG);
• · not a trading venue, multilateral trading facility, or organised trading facility under the Financial Market Infrastructure Act (FinMIA / FinfraG);
• · not a bank, a securities firm, a custodian, a fund manager, an asset manager, or an auditor.

These positions are not asserted in the abstract: they rest on the non-custodial architecture described in § 03. The Operator never accepts, holds, transmits or aggregates third-party assets or funds, receives or transmits no orders relating to financial instruments, and never executes, settles or intervenes in any Transaction. The regulatory status follows from the operating model.

Each party retains its own legal, financial, and tax advisors. The Operator does not provide investment, legal, tax, or accounting advice. The Operator's role is limited to introduction and the provision of the negotiation framework.

For the avoidance of doubt: listings published on the Platform are invitations to enter into negotiations (invitatio ad offerendum). They do not constitute a binding offer by the Operator or by any party, an investment recommendation, financial research, or a solicitation addressed to any specific person. The decision to pursue, structure and complete any Transaction rests exclusively with the parties and their advisors.

There is no escrow within the Platform. There is no client-account structure. There is no payment intermediation, no transaction custody, and no aggregation of client funds. Settlement occurs bank-to-bank, directly between the parties' designated institutions. The only sums the Operator ever receives are its own invoiced fees, post-closing, on its own corporate account.

The non-custodial architecture is the structural basis on which the Operator sits outside the perimeter of money-laundering supervision and investment-services regulation. It is not a marketing position; it is an operating constraint binding on every Transaction.

The three positions in § 01 are the canonical, lawyer-reviewed disclaimer of the Platform. They are reproduced verbatim, and not paraphrased, across the surfaces below. Identical text across surfaces is the protective construction.

The same construction applies to the Verification Notice (identity verification vs. seller-provided information): one canonical text, reproduced verbatim across the surfaces above.

The long form of the canonical disclaimer is the full text of the three positions set out in § 01 above. The medium and short forms follow.

smemarket.ch publishes and disseminates the offers of Buyer and Seller. It does not impose rules on the structure of any Transaction; it does not represent any party; it never holds shares, assets, funds, or other values on their behalf. The Transaction is negotiated freely between the parties.

Use cases, Homepage regulatory band · Deal / LOT pages above the unlock CTA · The Process page header.

smemarket.ch publishes offers. It does not intervene in the Transaction, does not represent any party, and never holds shares, assets, funds, or other values on their behalf.

Use cases, Site footer · NDA cover sheet · Operator email signatures · Single-line notices.

The Platform operates in four languages. Translations of the canonical disclaimer must preserve the architectural meaning, not the literal phrase. "Fiduciary or other intermediary" is the controlling English construction; equivalent forms in the other three languages are:

• · DE, Treuhänder oder anderer Vermittler
• · FR, Fiduciaire ou tout autre intermédiaire
• · IT, Fiduciario o altro intermediario

In case of discrepancy between language versions, the English text prevails, save where Swiss mandatory law provides otherwise.

This Disclaimer is incorporated into and forms an integral part of the General Terms and Conditions of the Platform:

• · GTC § 2.1(iii) defines the Operator's role as "the provision of the framework and tooling within which Users may negotiate" — consistent with the non-intervention principle stated above.
• · GTC § 2.5 reproduces the long-form canonical disclaimer of § 01 verbatim, anchoring it within the binding contract rather than only on public surfaces.

No surface contradicts another. The disclaimer is the position; the GTC carries the obligation; this page is the public-facing reference.