Buyer Terms
To purchase a License, you must first read and accept these Buyer Terms and the License Agreement. Accepting these terms will apply your digital signature to them.
Definitions
In these Buyer Terms “we”, “us” or “our” means ILOCX. “You”, “your”, “it” or “its” means the License Buyer. “Listing Company” means a company that has listed a license for sale using the ILOCX Framework.
Our Role
ILOCX is an intermediary connecting those who wish to sell Licenses with those who wish to buy Licenses. Our role is to maintain the ILOCX Website, present information, store electronically license agreements between Listing Companies and License Buyers and to facilitate Listing Companies issuance of licenses and compliance with the International Licensing Organisations Legal Framework.
As part of these Intermediary Services, we collect and list information from The Listing Company and from third parties about the Listing Company. We cannot guarantee the accuracy of this information, but to the best of our ability we perform due diligence and provide sources on the claims made and projections provided without giving advice. Accordingly, we accept no responsibility or liability for the inaccuracy of such information and License Buyers should do their own due diligence.
We may from time-to-time update the information we provide, when we are given new or additional information, but have no obligation to do so.
The information provided shall not in any way constitute a recommendation as to whether you should buy any product discussed. We accept no liability for any loss occasioned to any person acting or refraining from action as a result of any material provided or published.
License Agreements
When you buy a License using the ILOCX Framework you are transacting directly with the Listing Company, ILOCX does not receive or process any money on their behalf. To complete your purchase you must agree to and accept the License Agreement. The License Agreement sets out your relationship with the Listing Company. The License Agreement is exclusively between a Listing Company and the License Buyer.
Licenses on ILOCX are globally compliant and available to all countries except for those currently on UK, OFAC or EU sanction lists.
ILOCX do not guarantee or enforce any payments that are due from Listing Companies to License Buyers under any License Agreement. Listing Companies are fully responsible for all payments due to License Buyers – License Agreements are legally binding contracts, and the Listing Company is contractually required to make payments on revenue to License Buyers.
We will not perform any management functions on your behalf in respect of any Licenses that you buy or hold. It is your sole decision whether or not to buy from a Listing Company using the ILOCX Framework. You should seek independent financial, legal, tax or other professional advice prior to deciding to buy using the ILOCX Framework.
Disclaimer
No information, activity or process undertaken, or outcome reached, in connection with the provision of Intermediary Services is intended to constitute or be construed as advice, recommendations or guarantee by ILOCX or any Listing Company as to the creditworthiness of a Listing Company or any License Buyer, the amount of License Royalty payments Listing Companies be required to make, or License Buyers may expect to receive, or the likelihood of payment defaults that may occur, in relation to any License.
License Agreements are between a Listing Company and the License Buyer. We do not perform any management functions on behalf of the Listing Company in respect of any Licenses that the Listing Company approves and issues. It is the Listing Company’s sole decision whether or not to sell to License Buyers using ILOCX and The ILOCX Framework.
ILOCX does not hold funds from License Sales on behalf of Listing Companies.
ILOCX does not hold funds on behalf of any user of our website.
We are not authorised to give investment advice. No information contained on any ILOCX Website constitutes investment advice and should not be treated as such.
Refunds
Listing Companies are obliged to offer Buyers refunds if the request is made within 24 hours of purchase. This does not apply if the contract has been actioned (qualified), and if granted, will be less payment processing fees.
To initiate a refund you must contact the Listing Company directly using the contact details available on their listing page. ILOCX do not have access to Listing Company funds. It is the sole responsibility of the Listing Company to provide Buyers with a refund.
Suspension
We may suspend or disable an License Buyer or Listing Company’s access to the Website at any time if, in our reasonable opinion:
they have failed to comply with these Terms; or
their account is being misused, illegally or fraudulently used or is subject to other unauthorised use.
Any suspension will not effect license agreements in place as these are exclusively between the Listing Company and the Buyer. Suspended accounts will receive PDF copies of these contracts.
Jurisdiction
These Buyer Terms are governed by and construed in accordance with English law. If any dispute (whether contractual or non-contractual) arises out of, or in connection with, these Buyer Terms, we and the License Buyer submit to the exclusive jurisdiction of the English courts.
