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Terms and Conditions for Registration with the Landbank Partnership
TERMS OF BUSINESS
These terms set out the basis on which we will carry out work for you and should be read in conjunction with any Service Letter. The two documents together contain the terms and conditions of the contract between us.
Please sign and date the enclosed copy of these Terms and return them to us. If for any reason you do not return them to us duly signed and you continue to instruct us then your continuing instructions will amount to your acceptance of them.
Service
We shall endeavour to introduce you to sellers of land in accordance with your requirements, either with a view to an exchange of contracts for the purchase of that land or with a view to entering into an option agreement in respect of it. If we deliver particulars of land to you or provide details of land to you that (without prejudice to any other method of introduction) is an introduction.
Contract personal to you
This contract is personal to you and you acknowledge that you cannot transfer it to anyone else and you agree that nobody else has any rights or benefits under it or may enforce any of its terms whether it be under the Contracts (Rights of Third Parties) Act or otherwise.
Confidentiality and Communication
We will keep all information relating to your affairs confidential and not disclose it without your agreement, unless it is within our instructions to do so or we are legally required to do so.
We will correspond with you at the address and or telephone number provided by you. If you provide us with an e-mail address (and unless you inform us in writing to the contrary) you acknowledge that you have given your consent to our corresponding with you at that e-mail address notwithstanding that emails and attachments may contain confidential information. You further acknowledge that we shall not be liable to you in the event that emails from us to you contain a virus, computer errors, or other programme corruption.
Charges
Our charges are:-
1. In the case of a purchase following our introduction 2% of the purchase price, subject to a minimum fee of £3,000.
2. In the case of an option following our introduction a fee of £3,000 is payable to us on the signing of the option and the balance of our fee (calculated at 2% of the higher of the purchase price or the open market value of the land at the date of exchange of contracts) is payable upon exchange of contracts pursuant to that option.
If there is any disagreement as to the open market value of the land, each of us will appoint a valuer to endeavour to agree the value but in default of agreement or refusal by one party to appoint a valuer then either party may apply to the President of the Royal Institute of Chartered Surveyors to make the appointment. The decision of any valuer so appointed will be final and binding.
Our fees become due upon exchange of contracts or entry into the Option Agreement (whichever applies).
We do not accept payment in cash. Interest at 4% above bank base rate is chargeable from the due date for payment, if payment is delayed by more than 21 days.
Our charges are exclusive of VAT which (if applicable) must be paid in addition.
Indirect introduction
Our fees at the above rates will also become payable if during our engagement or within 12 months of its termination anyone on your behalf, any relation or associate of yours or anyone to whom you may have given details of any land of which we have supplied details to you purchases or enters into an agreement or option to purchase that land. The fee shall become payable to us on the date of exchange or entry into the option agreement. You agree to notify us as soon as you become aware of any such transaction.
Purchase by you within 12 months of termination
If you, within 12 months of the termination of our engagement, purchase or enter into an option agreement for land introduced by us, our fee is payable as above. You agree to notify us promptly if you enter into such a transaction.
Legal valuation survey and environmental matters
We do not advise on these. You should take your own advice from your own solicitors, surveyors and other specialists. If we obtain any report or information for you, that information is obtained on your behalf and without our having any liability for it.
Details in our particulars and in information supplied by us are not part of any contract and you must satisfy yourself as to their accuracy. They are made without responsibility on our part.
Loss of profit and consequential loss
We will not be liable to you for loss of profit or for any indirect or consequential loss that arises out of our services to you.
Papers
If at your request we retrieve or deliver files, papers, or documents out of storage or safekeeping we reserve the right to make a reasonable charge for retrieval.
Termination
Our engagement continues until (a) You exchange contracts for the purchase of land found by us for you or (b) You give us 7 days written notice terminating our engagement or (c) We give you 7 days written notice terminating our engagement.
Proof of identity
If the law requires, we may be obliged to see proof of identity. If so we will need to see your original passport or driving licence, provided that it includes your photograph and a recent utility bill or bank statement showing your home address.
Terms that cannot be enforced
If a Court finds any of the terms of this contract with you to be unenforceable or void you accept that you will still be bound by the remaining terms.
Entire Agreement
This contract (and any Service Letter) is the entire agreement between us in relation to this work and replaces any previous agreements or arrangements between us.
Notices
Any notice we wish to give you will be sent to your address as set out below unless you have told us in writing of a different address. Any notice you wish to give us must be sent to us at 77a North Street, Bristol, BS16 5SE.
English Law and jurisdiction of English Courts
The contract between us shall be governed by English law and you consent to the exclusive jurisdiction of the English Courts.