Right of Withdrawal
Information on the statutory right of withdrawal for consumers and a model withdrawal form.
Professional draft for legal review. Last updated: 16 August 2026.
Right of withdrawal — current stage
At the present founding / waiting-list stage, no fee is charged with the application. Submitting an application does not conclude a paid distance contract. Accordingly, a statutory right of withdrawal under consumer distance-selling rules is not triggered merely by applying to the waitlist.
If you are a consumer (within the meaning of § 13 German Civil Code – BGB), you will have a statutory right of withdrawal in distance contracts under the following conditions when a paid consumer contract is later concluded (for example founding membership after acceptance, once company registration is completed and payment is enabled), unless a statutory exception applies.
Withdrawal period
You have the right to withdraw from this contract within fourteen (14) days without giving any reason.
The withdrawal period will expire after 14 days from the day of the conclusion of the contract.
How to exercise the right of withdrawal
To exercise the right of withdrawal, you must inform us (the THE SELECT project operator) of your decision to withdraw from this contract by an unequivocal statement (for example a letter sent by post or email), using the contact channels indicated on this website. You may use the model withdrawal form below, but it is not obligatory.
To meet the withdrawal deadline, it is sufficient for you to send your communication concerning your exercise of the right of withdrawal before the withdrawal period has expired.
Effects of withdrawal
If you withdraw from this contract, we shall reimburse to you all payments received from you, including the costs of delivery (with the exception of the supplementary costs resulting from your choice of a type of delivery other than the least expensive type of standard delivery offered by us), without undue delay and in any event not later than 14 days from the day on which we are informed about your decision to withdraw from this contract.
We will carry out such reimbursement using the same means of payment as you used for the initial transaction, unless you have expressly agreed otherwise; in any event, you will not incur any fees as a result of such reimbursement.
Early performance and loss of the right of withdrawal
If you request that the performance of services begin during the withdrawal period, you may — where the statutory requirements of § 356(4) BGB or other applicable provisions are met — lose the right of withdrawal once the service has been fully performed, provided you were informed accordingly and expressly requested early performance in the manner required by law.
If you withdraw after having requested early performance but before the service has been fully performed, you may owe us a reasonable amount corresponding to the proportion of the services already provided until the time you inform us of withdrawal, relative to the full coverage of the contract — again only where the legal requirements for such a claim are met. We do not invent or rely on informal waivers beyond what the law permits.
Model withdrawal form
(Complete and return this form only if you wish to withdraw from a contract — relevant once a paid consumer contract has been concluded.)
To
THE SELECT — project operator
(via the contact channels indicated on the website)
I/We (*) hereby give notice that I/We (*) withdraw from my/our (*) contract of sale of the following goods (*)/for the provision of the following service (*),
Ordered on (*)/received on (*): _______________
Name of consumer(s): _______________
Address of consumer(s): _______________
Signature of consumer(s) (only if this form is notified on paper): _______________
Date: _______________
(*) Delete as appropriate.
Note
This notice is a professional draft for legal review. It will be aligned with the final contract model, payment flow and any request for early performance before paid membership go-live. Once company registration is completed, the addressee details will be updated to the then-current contractual entity.