Terms and Conditions

MY SOURCING HUB LIMITED 

Website Terms and Conditions of Use 

Welcome to the MySourcingHub website Terms and Conditions for Use. 

These Terms and Conditions apply to the use of this Website and by accessing this Website or entering in to dialogue with any of our Sourcing Agents you agree to be bound by these Terms and Conditions. Using this Website indicates that you accept these terms regardless of whether or not you choose to register with us. If you do not accept these terms, do not use this website. 

Our contact details are as follows: My Sourcing Hub Limited Company Number: 11322526 

General email: admin@mysourcinghub.com

Telephone number: 020 7183 1814 

1 DEFINITIONS 

In this document the following words shall have the following meanings:

1. ASK: the instant messaging facility on the Site for the use of Investors to facilitate dialogue relating to a Property or to ask questions of a Sourcing Agent regarding the same.

2. Data Protection Legislation: all applicable privacy and data protection laws including the General Data Protection Regulation ((EU) 2016/679) and any applicable national implementing laws, regulations and secondary legislation in England and Wales relating to the processing of Personal Data and the privacy of electronic communications, as amended, replaced or updated from time to time, including the Privacy and Electronic Communications Directive (2002/58/EC) and the Privacy and Electronic Communications (EC Directive) Regulations 2003 (SI 2003/2426). 

3. Escrow Account: an account opened by MySourcingHub with its affiliate Transpact Limited and in respect of which it is the sole signatory, (unless otherwise agreed in writing), and the utilisation of which - terms for deposit and release of funds - shall be on fixed terms in writing. 

4. Investor /You: the person firm or company using the Platform to locate a suitable property for investment purposes.

5. Interactions: all liaison with a Seller of a Property with a view to establishing a route to Sale

6. Licensor: the owner of the original work who has granted permission for the use of its materials

7. Personal Data/Data: means any information relating to an identified or identifiable natural person that is processed by MySourcingHub Hub or the Sourcing Agent as a result of, or in connection with any use made of this Site. 

8. Platform: the area of the website of MySourcingHub Limited where the properties are displayed.

9. Processing, processes and process: either any activity that involves the use of Personal Data or as the Data Protection Legislation may otherwise define processing, processes or process. It includes any operation or set of operations which is performed on personal data or on sets of personal data, whether or not by automated means, such as collection, recording. organisation, structuring, storage, adaptation or alteration, retrieval, consultation, use, disclosure by transmission, dissemination or otherwise making available, alignment or combination, restriction, erasure or destruction. Processing also includes transferring Personal Data to third parties. 

1.10 Property/Properties: any property or properties listed on the Platform as being potentially available for investment/ sale and purchase.

1.11 MySourcingHub/ Us/ We: MySourcingHub Limited.

1.12 Route to Sale: a pathway between the Seller and Investor which may result in a sale and purchase of a Property or Properties.

1.13 Seller: the registered proprietor of a Property or Properties, or its authorised selling agent.

1.14 Services: any services offered through the Platform or the Site including by way of general example only all forms of advice, arrangements and facilities organised.

1.15 Sourcing Agent: an independent party responsible for all enquiries or Interactions regarding a Property or Properties on the Platform.

1.16 Site/Website: the website of MySourcingHub 

2 GENERAL 2.1 When you use this Website or enter in to any dialogue with us or any of our Sourcing Agents you agree to abide by these Terms and Conditions.

2.2 By using this Website you further consent to the processing of your Personal Data for the purposes envisaged by the Site and you acknowledge and agree that your Data may be transferred to the Sourcing Agent and may be used by it when handling Interactions with you or a Seller regarding a Property.

2.3 Any clients, customers or suppliers are Data Controllers under GDPR and MySourcingHub is the Data Processor. Both Data Controllers and Data Processors are obliged to comply with the GDPR and we rely upon your attention and observance where required.

2.4 No changes or variations to these Terms and Conditions shall be effective unless agreed in writing by us

2.5 We reserve the right to make changes to our Website and any policies or procedures at any time.

2.6 We may exclude any person firm or company further access to the Website in the event that in our sole discretion we consider the said party to be misusing the Site in any way or abusing the availability of the ASK facility or for any other reason without requirement to provide any reason therefor.

2.7 We strive to ensure that the Properties shown on the Platform remain on the market for sale but we do not give any warranty.

2.8 Whilst we endeavour to ensure that the Site remains available 24 hour a day we will not be liable for any downtime or unavailability for any period of time and we reserve the right to suspend the Site without notice when necessary. 

3 LICENCE AND USER

3.1 Unless otherwise stated, the copyright and other intellectual property rights in all material on this Site (including without limitation photographs and images) are owned by us or the Licensor. For the purposes of these terms and conditions, any use of extracts from this Site for any purpose is prohibited. If you breach any of these terms and conditions, your permission to use this Website automatically terminates and you must immediately destroy any downloaded or printed extracts from this Website.

3.2 No part of this Website may be reproduced or stored in any other website or included in any public or private electronic retrieval system or service without our prior written permission. 

3.3 Other than your personal information which is covered by our Privacy Policy, any material transmitted or posted by you via this Website is considered non-confidential and non-proprietary and will be treated as such. 3.4 You are required to use the Website with respect and may not post or transmit offensive or illegal materials. If we consider in our sole discretion that there is any misuse of this Website of any nature, for example by the posting or transmission of harmful, defamatory or indecent material or words, or of non-licensed material we may take such action as we consider appropriate and will fully co operate with any law enforcement agencies or Court Order. 

4 PAYMENT TO SOURCING AGENT

4.1 You will be obliged to pay the Sourcing Agent a fee for its Services when you complete a contract for the sale and purchase of a Property that is displayed on our Platform. The Sourcing Agent is responsible for making this amount known to you and it will be payable by you to the Sourcing Agent in such manner as the Sourcing Agent directs, which may be by deduction from any funds paid in to the Escrow Account (if applicable). 4.2 If you complete the purchase of a Property without notifying the Sourcing Agent then all fees payable to the Sourcing Agent will become immediately due and payable by you and proceedings for recovery will be instigated. 

5 YOUR RESPONSIBILITIES 5.1 You agree to communicate with the Sourcing Agent regarding any Property displayed on the Platform by use of the ASK facility. 

5.3 We make every effort to accurately represent the Properties that are available and our intention is to assist you to locate the ideal property for your investment. However, you should undertake your own due diligence before making any step towards a purchase and we do not promise, guarantee or imply that your use of our Services, will improve your likelihood of securing a deal. 

5.4 When a transaction for the sale and purchase of a Property completes you are responsible for the payment of all fees due to the Sourcing Agent. If you withdraw from a transaction you will remain responsible for 33% of the total fees due to the Sourcing Agent provided that if you withdraw from a transaction as a result of matters beyond your control the Hub will reimburse 100% of the fees to you. 

5.5 After locating a Property on the Platform and reaching agreement with a Seller with the assistance of the Sourcing Agent you are responsible for instructing solicitors to act for you on the purchase and for all costs and other matters arising out of that relationship. 

6 LIMITATION OF LIABILITY 

6.1 We exclude all liability for your use of our Website or Services except as set out below. 

6.2 We do not limit liability in any way: 

6.2.1 For death or personal injury caused by our negligence; 

6.2.2 For fraud or fraudulent misrepresentation; or 

6.2.3 For any matter for which it would be illegal for us to exclude, or attempt to exclude, our liability. 

6.3 For the avoidance of doubt we will never be responsible to you for any indirect losses that you may suffer as a result of your Interaction with the Sourcing Agent after locating a Property on the Platform, however arising and whether caused by tort (including negligence), breach of contract or otherwise , even if foreseeable. 

7 THIRD PARTY MATERIAL/AFFILIATES 

7.1 Our Website may contain third party material in the information displayed on the Platform or elsewhere on the Site and we may provide links to external third party websites. Your use of such links to surf these sites and any third party services that you may choose to access in any way is entirely at your risk and we accept no responsibility in that regard whatsoever. 7.2 We may from time to time make arrangements with third parties/affiliates which involve us making a payment to them, or receiving a payment from them, for assistance and information provided. 

8 WAIVER 8.1 No failure by us to enforce any of these Terms and Conditions shall constitute a waiver of our continuing right to do so. 

9 GOVERNING LAW 9.1 These Terms and Conditions are governed by and construed in accordance with the Laws of England and any dispute shall be subject to the exclusive jurisdiction of the English Courts.

Contract between the Sourcing Agents and Investors

Locator/Investor Standard Terms of Business - sent from Sourcing Agent to Investor. By signing up to the website, you are agreeing to these terms and conditions.

DEFINITIONS

In this document the following words shall have the following meanings:

  1. Agreed Fee: the sum payable for the provision of the Services by the Sourcing Agent
  2. ASK: the instant messaging facility on the Site for your use to facilitate dialogue relating to a Sourced Property or to ask questions of your Sourcing Agent regarding the same.
  3. Data Protection Legislation: all applicable privacy and data protection laws including the General Data Protection Regulation ((EU) 2016/679) and any applicable national implementing laws, regulations and secondary legislation in England and Wales relating to the processing of Personal Data and the privacy of electronic communications, as amended, replaced or updated from time to time, including the Privacy and Electronic Communications Directive (2002/58/EC) and the Privacy and Electronic Communications (EC Directive) Regulations 2003 (SI 2003/2426).
  4. Escrow Account: an account opened by MySourcingHub with its affiliate Transpact Limited and in respect of which it is the sole signatory, (unless otherwise agreed in writing), and theutilisation of which - terms for deposit and release of funds - shall be on fixed terms in writing.
  5. Investor /You: the person firm or company using the Platform to locate a suitable Property for investment purposes.
  6. Interactions: all liaison with a Seller of a Property or with an Investor with a view to establishing a Route to Sale 
  7. Personal Data/Data: means any information relating to an identified or identifiable natural person that is processed by MySourcingHub Hub or the Sourcing Agent as a result of, or in connection with any use made of this Site.
  8. Platform: the area of the website of MySourcingHub Limited where the properties are displayed.
  9. Processing, processes and process: either any activity that involves the use of Personal Data or as the Data Protection Legislation may otherwise define processing, processes or process. It includes any operation or set of operations which is performed on personal data or on sets of personal data, whether or not by automated means, such as collection, recording. organisation, structuring, storage, adaptation or alteration, retrieval, consultation, use, disclosure by transmission, dissemination or otherwise making available, alignment or combination, restriction, erasure or destruction. Processing also includes transferring Personal Data to third parties.

1.10 Property/Properties: any property or properties listed on the Platform as being potentially available for investment/ sale and purchase.

1.11 MySourcingHub/Hub: My Sourcing Hub Limited.

1.12 Route to Sale: a pathway between the Seller and Investor which may result in a sale and purchase of a Property or Properties.

1.13 Sale: the successful exchange and completion of the sale of a Sourced Property 

1.14 Seller: the registered proprietor of a Property or Properties, or its authorised selling agent. 

1.14 Services: any services offered by us to you through the Platform or the Site including by way of general example only all forms of advice, arrangements and facilities organised.

1.15 Sourcing Agent/Us/We: the independent party responsible for all enquiries or Interactions regarding a Property or Properties on the Platform.

1.16 Site/Website: the website of MySourcingHub 

2 GENERAL

2.1 All Services provided to you shall be on these Terms and Conditions.  You acknowledge that in order to access the Platform and the facilities provided on it you will be required to register and also to agree to the terms of use of the Site.

2.2 No changes or variations to these Terms and Conditions shall be effective unless agreed in writing by us 

2.3 You consent to the processing of your Personal Data by us for all purposes envisaged by the Site and you acknowledge and agree that your Data may be transferred to the Hub and may be used when handling Interactions with you or a Seller regarding a Property.

2.4 You are a Data Controllers under GDPR and we and MySourcingHub are Data Processors.  Both Data Controllers and Data Processors are obliged to comply with the GDPR and we rely upon your attention and observance where required. 

2.4 You agree to use the Site responsibly and not to abuse the availability of the ASK facility or misuse the Site in any way.

3 FEES 

4.1 You agree to pay to us the Agreed Fee upon each Sale.  It will be payable by you in such manner as we direct, which will normally be by deduction from funds paid in to an Escrow Account by you and you hereby authorise us to arrange Escrow Terms with the Hub and its affiliate Transpact Limited for that purpose. The fee will become due and payable within 2 days of both parties agreeing:

(a) Completion of the property purchase for any property which has been sourced or introduced by us.

(b) If within 12 months of termination of this contract by either party, completion takes place on a property which was sourced or introduced by us, during the term of this contract. 

The fee will be payable to us whether you purchase the property directly or indirectly.

4.2 If you complete the purchase of a Property without notifying us then the Agreed fee will become immediately due and payable by you and proceedings for recovery will be instigated. 

4.3 If you withdraw from a transaction you will remain responsible for 33% of the Agreed Fee provided that if you withdraw from a transaction as a result of matters beyond your control we will facilitate reimbursement of 100% of the Agreed Fee to you. 33% will not be returnable to you if one of the following occur:

(a) You withdraw from the purchase of the property. This includes but is not limited to any failure by third party suppliers.

(b) If you fail to obtain the finance or necessary funds to complete on the purchase

(c) If your actions contribute or result in the seller withdrawing or cancelling the purchase of the property 

4.4 The fee will be returned to you only if the following circumstances take place:

(a) The property is withdrawn from the sale by the seller prior to the exchange of contracts (except for 4.3 (c))

(b) You decline an exchange of contracts because as a result of the property described any contract is deemed, by a third supplier, to differ materially and substantially from that described by us. Examples of this would include changes to size, outlook or position of the property which could be argues affect the value of the property substantially. This does not include circumstances which surround third party suppliers (who are not under the control of us) who make changes to finance options or other terms offered to you.

4.5 In the event of any dispute regarding the reasons for withdrawal from a transaction as mentioned in 4.3 above either party may refer the matter for resolution.  The parties will work together to reach a mutually agreed solution, but failing agreement within 7 days of the dispute either party may refer the matter to an expert for determination.  The expert shall failing agreement between the parties within 2 working days be appointed by the President for the time being of the RICS at the instigation of either of them upon notice to the other.  The fees of the expert shall be payable equally unless the expert otherwise directs in making his or her determination.

5 YOUR RESPONSIBILITIES 

5.1 You agree to communicate with us regarding any Property displayed on the Platform by use of the ASK facility.

  1. You agree that it is your sole responsibility to undertake such due diligence as you consider necessary regarding a Property before taking any step towards a purchase and we do not promise, guarantee or imply that your use of our Services will improve your likelihood of securing a deal.

5.4 After locating a Property on the Platform and reaching agreement with a Seller for the transaction to proceed you are solely responsible for instructing solicitors to act for you on the purchase and for all legal costs and for all other matters or things arising out of that relationship.

  1. LIMITATION OF LIABILITY

6.1 We do not limit our liability:

  1. For death or personal injury caused by our negligence; or
  2. For fraud or fraudulent misrepresentation; or
  3. For any matter for which it would be illegal for us to exclude, or attempt to exclude, our liability.

6.2 Subject to clause 6.1 we accept no liability for any loss you may suffer for any reason and for the avoidance of doubt we will never be responsible to you for any indirect losses that you may suffer as a result of your Interaction with us or with any Seller, howsoever arising and whether caused by tort (including negligence), breach of contract or otherwise, even if foreseeable.

8 WAIVER

8.1 No failure by us to enforce any of these Terms and Conditions shall constitute a waiver of our continuing right to do so.

9 GOVERNING LAW

9.1 These Terms and Conditions are governed by and construed in accordance with the Laws of England and any dispute shall be subject to the exclusive jurisdiction of the English Courts.