1. Introduction
1.1. Retail Money Market Ltd (the “Company”, “RateSetter”, “us”, “we”) is a limited liability company registered in England and Wales, number 7075792. Our registered office address is 6th Floor, 55 Bishopsgate, London, EC2N 3AS.
1.2. We are authorised and regulated by the Financial Conduct Authority (the “FCA”) under the reference number 722768. The Company is registered with the Information Commissioner’s Office under registration number Z2083390.
1.3. We provide an exchange (the “Exchange”) on www.ratesetter.com and other websites operated by or on behalf of selected partners (the “Websites”). The purpose of the Exchange is to facilitate the arrangement of credit agreements (“Loan Contracts”) between borrowers and investors (the “RateSetter Customers”), either or both of which may be individuals or corporate bodies.
1.4. By accessing or using the Websites and the Exchange through any means, you are agreeing to be bound by these Website and Exchange Terms of Use (the “Terms”).
1.5. We may make changes to these Terms and/or to the way we operate the Websites or Exchange, from time to time and will take reasonable steps to bring any material changes to your attention. If you do not agree to these Terms or to any changes made to them, you must not use, and must cease using, the Websites and Exchange.
1.6. These Terms apply to your use of the Websites and the Exchange generally and unless otherwise stated apply equally to investors and borrowers.
1.7. If you are investing through the Exchange, these Terms should be read in conjunction with the “Investor Terms” which will be presented to you for acceptance before you deposit funds to invest or, for corporate investors, with any terms individually negotiated with us.
1.8. If you are borrowing through the Exchange, these Terms should be read together with the terms and conditions contained in your Loan Contract.
1.9. These Terms refer to other terms which also apply to the use of the Websites and the Exchange:
1.9.1. Our Privacy Policy, which contains details of how we use your personal information. You should read the Privacy Policy carefully before completing your registration or application.
1.9.2. Our Cookie Policy, which sets out information about the cookies on our site.
1.10. If you have any questions about these Terms, please contact our Customer Services team on 020 3142 6226 or by email at [email protected].
2. Access to and Use of the Websites
2.1. We do not guarantee that the Websites, or any content on them, will always be available or be uninterrupted. We will always try to give you at least 14 days prior notice on the Websites before any planned downtime. However, access to the Websites is subject to our right to suspend such access without notice where we are required to do so by any applicable law or where the Websites are unavailable through no fault of our own.
2.2. We will not be liable to you if, for any reason (other than our negligence, breach of contract, wilful default or fraud), the Websites are unavailable at any time or for any period.
2.3. You are responsible for making all arrangements necessary for you to have access to the Websites.
2.4. Where the Exchange is being accessed from any website other than www.ratesetter.com, you agree to comply with both these Terms and any terms of use relating to the third-party website. Where there is a difference between these Terms and those of any other website operating the Exchange, these Terms shall prevail.
2.5. You will not access or use the Websites or the Exchange except for their intended purpose and will not attempt to:
2.5.1. Gain unauthorised access to, make unauthorised alterations to, or introduce any kind of malicious code to the Websites, the Exchange or the Company by any means;
2.5.2. Reverse engineer or decompile (whether in whole or part) the Exchange or any software available through the Websites;
2.5.3. Make copies, modify, reproduce, transmit, alter or distribute all or any part of the Exchange or Websites or any material or information contained in them;
2.5.4. Use the Websites or Exchange for any purpose that is unlawful under any applicable law;
2.5.5. Use the Websites or Exchange to commit any act of fraud;
2.5.6. Use the Websites or Exchange to simulate communications from us or another service or entity in order to collect identity information, authentication credentials, or other information (‘phishing’); or
2.5.7. Use the Websites or Exchange in any manner that disrupts their operation.
2.6. You will not disguise or interfere in any way with the IP address of the computer you are using to access the Websites or otherwise take steps to prevent us from correctly identifying the actual IP address of the computer you are using whilst accessing the Websites.
2.7.The Websites may contain hyperlinks or references to third party websites. Any such hyperlinks or references are provided for your information and convenience only. We have no control over third party websites and accept no legal responsibility for any content, material or information contained in them. The display of any hyperlink and reference to any third-party website does not mean that we endorse that third party's website, products or services. Your use of a third-party site may be governed by the terms and conditions of that third-party site.
2.8. Although we work hard to protect the Websites and our Exchange, we do not guarantee that the Websites will be secure or free from bugs or viruses.
2.9. You are responsible for configuring your information technology, computer programmes and platform in order to access the Websites and the Exchange. You should use your own virus protection software.
3. Your RateSetter Account
3.1. By making an application for credit or registering as an investor on the Exchange, you agree and confirm:
3.1.1. All the information you have provided is accurate and correct and you are the person whose details you have provided;
3.1.2. You can enter into a legally binding agreement with us;
3.1.3. You will only use the Exchange for investing or borrowing purposes as envisaged by these Terms and the applicable Investor Terms or Loan Contract;
3.1.4. You have provided a current address, telephone number and e-mail address and will notify us immediately if your contact details change;
3.1.5. In the case of an individual, you are 18 years of age or over and capable of taking responsibility for your own actions;
3.1.6. In the case of a company, you are an officer of the company or you are otherwise authorised to act on behalf of the company;
3.1.7. You authorise us, at any time, to use any means that we consider necessary to verify your identity with any third-party providers of information. Please refer to the Privacy Policy for details of steps we may undertake to do this.
3.2. If an application for credit has been made by a third party on your behalf (for example by a credit broker), you will be asked to confirm that the information entered by the third party is true and accurate before you enter into the Loan Contract. By doing so, you confirm the statements in section 3.1 are correct.
3.3. When you register or apply for credit on the Exchange (or in the case of an application made by a third party, when you first access your account) you will be given a RateSetter account number and asked to set a password. You agree to keep your password and RateSetter account number strictly confidential and you must not disclose them to any third party. You agree to protect them in the same way as you would the details of your bank account or your bank cards. Any failure to do so shall be at your sole risk and expense.
3.4. You should change your password on a regular basis. Passwords should contain a mixture of upper and lower-case letters and numbers and/or symbols. Passwords are case sensitive and we recommend the use of passwords that combine a combination of numbers, symbols and letters in different cases. This will help to prevent the risk of unauthorised use of your account.
3.5. You agree that we are entitled to assume all correspondence, orders, transfers and instructions made by reference to your password and account number are made by you. You agree to inform us immediately by e-mail and by telephone if you know or suspect that any of your account information or password are being misused so that we can take any actions necessary to protect your account, which may include suspending your account.
3.6. We can close or suspend your RateSetter account (and stop providing any services) by giving you at least two months’ notice.
3.7. We may end our agreement with you, stop providing any services and close your RateSetter account immediately if we reasonably believe you have seriously or persistently broken any terms of the agreement (including these Terms, the Investor Terms and the Loan Contracts) or we have reasonable grounds for thinking you have done any of the following things:
3.7.1. You do not respond to our reasonable requests for information or you fail to provide such information;
3.7.2. We suspect that you have committed or have been involved in fraud, money laundering or other criminal activities;
3.7.3. You inappropriately let someone else use your account;
3.7.4. We discover that any information you have provided to us is materially incorrect, inaccurate, false or misleading;
3.7.5. You put us in a position where we might break a law, regulation, code or other duty that applies to us if we maintain your account;
3.7.6. You behave in a threatening or abusive manner to our staff; or
3.7.7. You become or appear likely to become bankrupt or subject to an Individual Voluntary Arrangement or a Debt Relief Order or a Sequestration, Trust Deed or Debt Arrangement in Scotland.
4. RateSetter charges
4.1. There is no charge for registering for a RateSetter Account or for making an application for credit on the Exchange.
4.2. If an application for credit is approved, we will confirm the amount you can borrow and the rate at which you can do so (the “Borrower Rate”). The Borrower Rate will be expressed as an annual rate and will include any interest due to the investor plus any fees and/or interest due to RateSetter.
4.3. Except in cases where paper copies are required by law, RateSetter will make any communications, documents or statements available to you electronically. Please let us know if you require a copy of our documents in an alternative format.
4.4. There will be no fees payable by investors to RateSetter unless you decide to end your contract before the contracted date (a “Sell Out”), in which case the conditions and fees in relation to Sell Outs set out in the Investor Terms will apply.
5. Data accuracy and errors
5.1. You agree to inform us as soon as possible if any information provided by you or contained in your RateSetter Account changes and/or if you become aware of any errors with respect to your RateSetter Account.
5.2. The content on the Websites is provided for general information only and is not intended to amount to advice on which you should rely. Although we make reasonable efforts to update the information on the Websites, we make no promises that the content on the Websites is accurate, complete or up to date.
5.3. We reserve the right to remove from the Exchange any loan offers which are the subject of any error.
6. Intellectual Property
6.1. We are the owner or the licensee of all intellectual property rights in the Websites and the Exchange and in the material published on them. These works are protected by copyright laws and all such rights are reserved.
6.2. You may print off one copy, and may download extracts, of any page(s) from our Websites for your personal use and you may draw the attention of others within your organisation to content posted on our Websites.
6.3. You must not modify the paper or digital copies of any materials you have printed off or downloaded in any way, and you must not use any illustrations, photographs, video or audio sequences or any graphics separately from any accompanying text.
6.4. Our status (and that of any identified contributors) as the authors of content on our site must always be acknowledged.
6.5. You must not use any part of the content on our site for commercial purposes without obtaining a licence to do so from us or our licensors.
6.6. If you print off, copy or download any part of our site in breach of these terms of use, your right to use our Websites and Exchange will cease immediately and you must, at our instruction, return or destroy any copies of the materials you have made.
6.7. RateSetter and the RateSetter logo are trademarks of Retail Money Market Limited. Retail Money Market Limited is the sole owner of the same. You will not make any unauthorised use of the RateSetter trademarks.
6.8. www.ratesetter.com is the uniform resource locator ("URL") of our Company. You will not make any use of this URL (or any other URL owned by us) on another website or digital platform without our prior written consent.
6.9. RateSetter owns all rights in any price data and related content on the Exchange. Your registration and use of our Exchange does not transfer any rights to the content and related intellectual property rights contained in our Exchange. Except as otherwise permitted by law, you agree not to monitor, use or copy our web pages or any content on the Exchange, including without limitation, any price data without our prior consent. Any unauthorised use or reproduction may be prosecuted.
6.10. Any data licensed to RateSetter from third parties is provided for use on the Websites only and may not be used for any commercial purposes without the consent of such third parties.
7. Liability
7.1. Nothing in these Terms excludes or limits our liability to you where it would be unlawful to do so. This includes liability for death or personal injury caused by our negligence or the negligence of our employees, agents or subcontractors and for fraud or fraudulent misrepresentation
7.2. Any liability arising out of a breach of these Terms shall be limited to any loss or damage that is a reasonably foreseeable consequence of such a breach and which arises directly from the actions of the defaulting party. Neither party shall be liable for any indirect, special or consequential loss or damage and shall not be liable for any loss of profits, sales, business or revenue.
7.3. We will not be liable to you for any loss or damage, whether in contract, tort (including negligence), breach of statutory duty or otherwise, arising under or in connection with your:
7.3.1. Use of, or inability to use, the Websites and/or the Exchange; or
7.3.2. Use of or reliance on any content displayed on the Websites and/or the Exchange,
7.3.3. Except where such liability arises as a result of our breach of contract, negligence or fault.
7.4. We will not be liable for any loss or damage that you may suffer because of any abnormal or unforeseeable circumstances outside our reasonable control which would have been unavoidable despite all efforts to the contrary, for example, delays or failures caused by problems with another system or network, any breakdown or failure of transmission, communication, data processing or computer facilities, mechanical breakdown, an act of state or government, war, riot or terrorism, any act of God, the suspension of any market, postal or other strikes or similar industrial action or any prevention from or hindrance in obtaining any materials, energy or other supplies necessary for the performance of our obligations under these Terms.
7.5. We will have no liability for not displaying on the Websites, for withdrawing or for not matching with any prospective investor or borrower, any offer to lend or application to borrow which you submit to us.
7.6. We will not be liable for any loss or damage caused by a virus, distributed denial-of-service attack, or other technologically harmful material that may infect your computer equipment, computer programs, data or other material due to your use of the Websites and/or Exchange or to your downloading of any content.
8. General
8.1. These Terms are governed by the laws of England and Wales and the courts of England and Wales will have exclusive jurisdiction in relation to any and all disputes arising from them. If any provision of these Terms is or becomes illegal, invalid or unenforceable that shall not affect the legality, validity or enforceability of any other provision of these Terms.
8.2. A person who is not a party to these Terms has no right under the Contracts (Rights of Third Parties) Act 1999 to enforce any term of these Terms.