Kickstarter updates terms of use for cancelled projects

[Chuckt]

Creators "may be subject to legal action by backers" if they don't meet obligations

Creators must follow a five-step checklist to satisfy Kickstarter that they have done everything they can to resolve the situation. They must:
•"Post an update that explains what work has been done, how funds were used, and what prevents them from finishing the project as planned"

•"Work diligently and in good faith to bring the project to the best possible conclusion in a timeframe that's communicated to backers"

•Be "able to demonstrate that they've used funds appropriately and made every reasonable effort to complete the project as promised"

•Have "been honest, and have made no material misrepresentations in their communication to backers"

•"Offer to return any remaining funds to backers who have not received their reward (in proportion to the amounts pledged), or else explain how those funds will be used to complete the project in some alternate form."

http://www.computerandvideogames.com/47 ... -projects/

[brad]

I have seen project that have made over $100,000 to make a board game and nothing became of it. The creator posted an update saying that the money was all gone and they spent it on all sorts of artists etc. to get the game made but for some reason it just didn't work out.