These Standard Terms of Use (“Terms”) apply in respect of all work carried out by COMMUNITY BUSINESS BROKERS, except to the extent that they otherwise agree with the Registered User in writing.
1. The Registered User has read and understands this Agreement and all terms of use of the website (communitybusinessbrokers.com/terms) including privacy policy (communitybusinessbrokers.com /privacy) and refund policy (communitybusinessbrokers.com /refund-policy) and agrees to be bound by its terms.
2. The Registered User certifies that the details mentioned herein are true and complete to the best of his knowledge and belief.
3. The Registered User agrees not to post, email, display, upload, modify, publish, transmit, update or share any information on the site, or otherwise make available content that violates any law or regulation or that is false, deceptive, misleading or deceitful.
4. COMMUNITY BUSINESS BROKERS may seek proof of the content or information shared by the Registered User at any time. The Registered User agrees to furnish proof of the claims made by it within 2 days of the request made by COMMUNITY BUSINESS BROKERS. If proof is not submitted within the accorded time, COMMUNITY BUSINESS BROKERS shall be at liberty to not approve such profile or shall be entitled to either delete such information it believes to be false or suspend the said profile.
5. The Registered User agrees to promptly disclose in absolute good faith the correct transaction value and transaction closure date and other material terms to COMMUNITY BUSINESS BROKERS by promptly sending an email to info@communitybusinessbrokers.com within 2 business days of transaction closure to enable COMMUNITY BUSINESS BROKERS to raise an invoice.
6. Any form of financial transaction between the Registered User and the business listed on COMMUNITY BUSINESS BROKERS including investment, complete buyout, sale of shares, sale of any assets, aqui-hiring of employees, is considered as successful Transaction for which COMMUNITY BUSINESS BROKERS finder’s fee would be applicable.
7. The transaction shall be deemed closed on the date on which the Registered User (or related parties) and the business listed on COMMUNITY BUSINESS BROKERS sign the final version of the definitive agreement amongst themselves or on the receipt of any payment pertaining to the transaction by the business from the Registered User (or related parties), whichever is earlier.
8. Failure to disclose accordingly in good faith within the aforesaid timeframe would entitle COMMUNITY BUSINESS BROKERS to be indemnified to an amount that is not less than 1% of the total transaction value or INR 30,000 (or USD 400), whichever is higher.
9. Total transaction value includes total payments made, committed future payouts, non-cash payments, debt assumed by acquirer, and bonus payments to be paid to management.
10. The Registered User shall use information received from businesses (or related parties) and COMMUNITY BUSINESS BROKERS only for evaluation of the transaction in question and not for any other purpose. Further, the Registered User shall not disclose, directly or indirectly, any such information received, including contact information, to any person other than his representatives who are directly participating in the evaluation of this transaction.
11. The Registered User is aware that COMMUNITY BUSINESS BROKERS has access to all of his communication with other members introduced to him through COMMUNITY BUSINESS BROKERS. In order to ensure a smooth transaction between the Registered User and other members, based on the content of the communication between these parties, COMMUNITY BUSINESS BROKERS reserves the right to take any action as indicated in these Terms.
12. COMMUNITY BUSINESS BROKERS will hold in confidence all information concerning the Registered User or his affairs that is acquired during the course of acting for the Registered User. COMMUNITY BUSINESS BROKERS will not disclose any of this information to any other person except:
a. to the extent necessary or desirable to enable COMMUNITY BUSINESS BROKERS to carry out the Registered User’s instructions; or
b. to the extent required by law
Notwithstanding the aforesaid, user consents to COMMUNITY BUSINESS BROKERS using the user’s company name and logo on its website, promotional material or other literature/ write-ups unless the user requests otherwise.
13. The Registered User understands that COMMUNITY BUSINESS BROKERS doesn’t provide any representation or warranty as to completeness or accuracy of any information received from businesses (or related parties). The Registered Users are responsible for the accuracy and content of the listing.
14. In addition, to the extent permitted by law, COMMUNITY BUSINESS BROKERS is not liable, and the Registered User agrees not to hold them responsible, for any damages or losses (including, but not limited to, loss of money, goodwill or reputation, profits, or other intangible losses or any special, indirect, or consequential damages) resulting directly or indirectly from the use of their services.
15. If the Registered User has a dispute with one or more other Registered Users, the Registered User releases COMMUNITY BUSINESS BROKERS from claims, demands and damages (actual and consequential) of every kind and nature, known and unknown, arising out of or in any way connected with such disputes.
16. The Registered User will indemnify and hold COMMUNITY BUSINESS BROKERS harmless from and against any and all claims, damages, obligations, losses, liabilities, costs or debt, and expenses (including but not limited to legal fees), arising from the Registered User’s use of and access to the Website and/or the Service, violation of any of the terms of these Terms, claims made by any third party due to or arising out of the Registered User’s breach of this Agreement, improper use of COMMUNITY BUSINESS BROKERS’ Services or breach of any law or the rights of a third party. This defense, duty of confidentiality and indemnification obligations will survive termination, modification or expiration of these Terms and your use of the Service and the Website.
17. Although, the Registered User may expect to be reimbursed by a third party for COMMUNITY BUSINESS BROKERS’ fees and expenses, and although the invoices may, at the request of the Registered User or with his approval be directed to a third party, nevertheless the Registered User remains responsible for payment to COMMUNITY BUSINESS BROKERS if the third party fails to pay them.
18. The Registered User agrees and consents to receive Phone calls, SMS and Emails that COMMUNITY BUSINESS BROKERS’ sends in connection with his account at COMMUNITY BUSINESS BROKERS.
19. The Registered User agrees that COMMUNITY BUSINESS BROKERS can use its best efforts to advertise, market and promote his/her requirements on various platforms and social media in order to maximize the introductions he receives.
20. The Registered User acknowledges and agrees that COMMUNITY BUSINESS BROKERS, may establish limits from time to time concerning use of the Service, including among others, the maximum number of days that Content will be maintained or retained by the Service, the maximum number and size of postings, e-mail messages, or other Content that may be transmitted or stored by the Service, and the frequency with which the Registered User may access the Service or the Website.
21. The Registered User grants permission to COMMUNITY BUSINESS BROKERS to publish the successful deal closure on its website upon intimating the transaction closure date to it and the publication may be done for any purposes of trade, advertising, publicity or promotion. The Registered User hereby releases COMMUNITY BUSINESS BROKERS from liability resulting from or attributable to any of the actions authorized above
22. The Registered User acknowledges and agrees that COMMUNITY BUSINESS BROKERS has no responsibility or liability for the deletion or failure to store any Content maintained or transmitted by the Website or the Service.
23. If COMMUNITY BUSINESS BROKERS believes that the Registered User is abusing COMMUNITY BUSINESS BROKERS in any way or if the Registered User intentionally furnishes information or makes claims knowing it to be false or deliberately fails to furnish verification proof to back its claims or fails to pay the Finder’s Fee to COMMUNITY BUSINESS BROKERS within the allotted time, COMMUNITY BUSINESS BROKERS may, in their sole discretion and without limiting other remedies, limit, suspend, or terminate the user account(s) and access to their Services, delay or remove hosted content, remove any special status associated with the user’s account(s) and take technical and/or legal steps to prevent the User from using the Services. On such an action being taken by COMMUNITY BUSINESS BROKERS, COMMUNITY BUSINESS BROKERS shall also be entitled to retain the entire fees paid to it by the Registered User, towards damages. The Registered User shall not be entitled to seek a refund of the same.
24. COMMUNITY BUSINESS BROKERS is not liable for any infringement of intellectual property rights arising out of materials posted on or transmitted through the site, or items advertised on the site, by end users or any other third parties.
25. In the event of any dispute of any nature whatsoever, whether in any court or otherwise, the liability of COMMUNITY BUSINESS BROKERS would be restricted to the fee paid under this engagement.
26. These Terms apply to any current engagement and also to any future engagement, whether or not COMMUNITY BUSINESS BROKERS send another copy to the Registered User. COMMUNITY BUSINESS BROKERS is entitled to change these Terms from time to time, in which case they shall send out the amended Terms.
27. Any disputes, differences or question between the parties arising out of, or in connection with, these Terms of Use , or the commission of any breach of any terms thereof or of compensation payable thereof or in any manner whatsoever in connection with it, shall be decided through Arbitration by a sole arbitrator. The decision of such an arbitrator shall be final and binding on the parties. The venue of the arbitration proceedings shall be Bangalore and the provisions of the Arbitration and Conciliation Act, 1996, shall be applicable to such proceedings.
Acceptance of the Terms mentioned herein shall constitute a valid contract that is binding on the parties.