We advised Fairown on the launch of their operations on the Estonian market 

We advised the client on the interpretation of the requirements set out in the Payment Institutions and E-money Institutions Act (including PSD2) and the Creditors and Credit Intermediaries Act. We also assisted them in drafting the contracts required for their commercial operations.

Fairown offers a product subscription software based on the principle of circular economy both in Estonia and in foreign markets.

We advised the client on the interpretation of the requirements set out in the Payment Institutions and E-money Institutions Act (including PSD2) and the Creditors and Credit Intermediaries Act. Among other things, we drafted sample contracts for the customer in cooperation with banks and other financiers.

In addition, we advised the customer on AML issues related to credit institutions, provided an overview of the requirements of payment institutions at the client’s request and explained the expectations of the Financial Supervision Authority with respect to obtaining a license as a payment institution.