title: Terms and Conditions

Pilot Cottage website is run by Pilot Cottage Limited, registered in England and Wales with company number 06249355.  Our registered office address is: The Old Baptist Chapel, New Street, Painswick, Gloucestershire, GL6 6XH.

Terms and conditions for use of Website

The following terms and conditions govern your use of our website and by continuing, you agree to them.

What you should know about our information

Our information is provided free of charge and is intended to be helpful to many UK-based businesses. Because of its general nature the information cannot be taken as comprehensive and should never be used as a substitute for legal or professional advice. We cannot guarantee that the information applies to the individual circumstances of your business and despite our best efforts it is possible that some information may be out of date.

As a result:

- We cannot take any responsibility for the consequences of errors or omissions.

- Any reliance you place on our information or linked to on other websites will be at your own risk. You should consider seeking the advice of independent advisers, and should always check your decisions against your normal business methods and best practice in your field of business.

- We, our agents and employees, are not liable for any losses or damages arising from your use of our website.

What you should know about any other sites we link to

Links will lead to other websites. Although checked regularly, they are not under our control. We are not responsible for the content of any linked website and cannot take responsibility for the consequences of your using the information or services on linked websites. Additionally, we cannot guarantee that these links will work at any time.

Our website does not endorse or favour any specific commercial product or business. Sites linked to from our website are present only because they may be useful additions to the information we provide.

A link to a third-party website does not imply endorsement; you must use your own business judgment to decide whether the information or service on that website is suitable for your needs.

Virus protection

We make every effort to check and test our websites during production. However, we would advise you to run an anti-virus program on anything you download from the Internet. We accept no liability for any damage to your computer system or loss of data caused by using this website or arising as a result of having used the website.

Applicable law

This website and the use of it is governed by English law and English courts shall have exclusive jurisdiction over any disputes connected to our websites.

Copyright

© Crown copyright 2007-2008 - the text on this website is subject to Crown copyright protection.

Where any of the items on this website are being republished or copied to others, you must receive our permission in writing, identify our website as the source of the material, and acknowledge its copyright status. If you would like to make use of material from our website, contact us to tell us where and how you plan to use it.

Linking to this site

Pilot Cottage encourages hypertext links to this website, however, we reserve the right not to meet all requests for linking to this website.

Terms and conditions for Fund Seeking

Pilot Cottage may provide a fund seeking service to business ready clients. This service is complimentary to our core investment readiness and business coaching services.

Service Description

The Client must have a robust business proposal that shows a profitable investment opportunity.  If the business proposal is not adequate the Client may be asked to upgrade the proposal themselves or Pilot Cottage may offer a business planning service.

Pilot Cottage charges a 1.5% success fee on the value of the investment funds secured. Where Business Angel Networks or other fund raising organisations pay Pilot Cottage a commission, this will be retrospectively deducted from the Pilot Cottage fee.

Pilot Cottage has a number of proven processes for fund seeking which vary depending on the Client’s circumstances.

The Client retains control, and therefore responsibility, for how long it takes to do a deal or even if a deal is done at all.

Terms and Conditions     

1. The Information Memorandum is a description of the business proposal for which the Client is seeking funding

2. Funding may be provided in many forms including but not limited to: share capital, commercial loans, guarantees, forgiveness of debt, asset finance, grants, contribution in kind for example by undertaking consultancy hereinafter referred to as “funding”.  Funding includes funding for the Client or any existing or future associated company of the Client engaged in delivering the business proposal.

3. Sources of Funds include but are not limited to: corporate investments, trade mergers, individual investors, syndicates, venture capital funds, entreprise funds, banks, grant providers, family and friends, hereinafter referred to as an “Investor”.

4. The Service as described in these terms and conditions seeks to introduce the Client to investor networks or other fund raising organisations [Investors] to provide funding.  The Service does not guarantee that the Client will be successful in securing funds and nothing in this Agreement in whole or in part should be deemed to imply that success of any nature is guaranteed.

5. The Client Agrees to:

a. inform Pilot Cottage by email and in writing of any material changes to circumstances of the Client or the business proposal as soon as reasonably possible.
b. pay fees to Pilot Cottage in accordance with this agreement.
c. indemnify Pilot Cottage against any liability which may be incurred as a result of disclosing information supplied by the Client to any potential Investors
d. inform Pilot Cottage promptly by email and in writing of any information concerning the Client or its directors that might impact upon the work to be carried out by Pilot Cottage
e. notify Pilot Cottage within 3 working days about all contacts with Investors whether introduced by Pilot Cottage or not and any funding being secured from Investors whether introduced by Pilot Cottage or not

The Client warrants that:

f. to the best of the Client’s knowledge, the information supplied is accurate and fairly represents the business proposition.
g. the information provided in the Information Memorandum does not infringe the copyright nor the Intellectual Property of any third party
h. the Client is free to enter into this Agreement with Pilot Cottage and is not bound by any exclusive agreement with any third party that may infringe upon Pilot Cottage’s ability to deliver and secure payment for the Service
i. no director associated with the Client:
   i.   has a criminal record save for parking and speeding.
   ii.  is a registered bankrupt

   iii. is banned from being a Director by the Department of Trade and Industry.
   iv. is the subject of any county court judgements.

6. Pilot Cottage warrants that the Service will be delivered with all reasonable endeavours in accordance with this Agreement.

7. Pilot Cottage reserves the right to make enquiries and checks it believes appropriate on the Client, individuals and or companies involved in the Client’s Business Plan.

8. Fees for investment readiness coaching and business planning services are excluded from this Agreement.  Pilot Cottage charges a 1.5% success fee on the value of the funds secured.

9. Payment Terms the Client agrees that this Agreement constitutes authority to direct the client’s solicitors to pay the success fee directly to Pilot Cottage at legal completion of the Funding.  Pilot Cottage does not offer any credit terms and will take immediate legal action to recover unpaid success fees.

10. Confidential Information shall be kept secret and confidential by both parties including all confidential information belonging to the other party disclosed or obtained during the course of the service and for a period of 12 months following termination of this Agreement or cessation of the service whichever is the later.  If the Information Memorandum includes specialist techniques and procedures then it is the Client’s responsibility to ensure these are protected under the appropriate patent and copyright law.

11. Termination by The Client of this Agreement may be done at any time by email but any fees paid shall not be refunded and the Client shall be liable for any unpaid investment readiness coaching or business planning service fees except at the sole discretion of the Managing Director of Pilot Cottage.  If within twelve months of the termination of this agreement the Client obtains funding from investors introduced by Pilot Cottage, except amounts from Excluded Investments, then the success fee will become due to Pilot Cottage on that funding.

12. Termination by Pilot Cottage of this Agreement may be done at any time by notice in writing and no success fee will be due.

13. Pilot Cottage shall not be liable to the Client for any indirect or consequential loss howsoever arising in relation to this Agreement.  Pilot Cottage’s maximum liability to the Client for all claims arising in relation to this Agreement, whether in contract, tort or otherwise, shall be limited to the aggregate of fees paid by the Client.  Nothing in this Clause shall operate to limit Pilot Cottage’s liability for death or injury caused by its negligence or for fraud.

Financial Services and Markets Act 2000

Pilot Cottage’s fund seeking service aims to link entrepreneurs and companies seeking investment with investor networks, investment funds and commercial finance providers, to facilitate the flow of investment capital and support the start up and growth of exciting business propositions.

We do not advise on the merits or risks of specific investment proposals and the responsibility for the decision on specific investment lies with the parties concerned.

Potential investors should be aware that investment in new business carries high risks, as well as the possibility of high rewards. It is highly speculative and no established market exists for the trading of shares in private companies. Before investing in a project about which information is given, potential investors are advised to take advice from a person authorized under the Act who specializes in advising on investment of this kind.

Entrepreneurs and companies seeking investment through Pilot Cottage must ensure that the information presented to potential investors is neither inaccurate nor misleading. They are, accordingly, similarly advised to seek guidance from someone authorized under the Act.