Conditions of Use

Contract conditions for the use of data in the course of the use of the FAROS Private Markets Database investor platform (hereinafter, “the Platform”)

It is agreed between Cost Advisory GmbH, Franklinstr. 56, 60486 Frankfurt am Main - hereinafter “the Provider“ - and the Users described in § 2 of the contract - hereinafter “the User“ (or “Users”) as follows.

    § 1 Application, Definitions

    1. For the business relationship between the Provider and the Users the following Conditions of Use apply exclusively in the version valid at the time of the order. The Users' deviating general conditions of business are not accepted unless the Provider has expressly agreed to their application in writing.
    2. The User is a business i.e., a natural or legal person or partnership with legal capacity acting in concluding this Agreement in his/her commercial or independent professional activity.

    § 2 Conclusion of Contract

    1. The User can register for using the Platform either as (i) an investor or (ii) Asset Manager. The registration application can only be made and transmitted if the User accepts these Conditions of Use by clicking on the button “Accept Conditions of Use”.
    2. The Provider then sends the Users an automatic confirmation of receipt by e-mail in which the registration application of the User is again included and which the User can print through the function “Print”. The automatic confirmation of receipt only documents that the User’s application has been received by the Provider and does not constitute an acceptance of the application. The contract comes into force only by the making of the Acceptance Declaration by the Provider which will be sent by separate e-mail (order confirmation).

    § 3 Investors

    1. Investors can, through the Platform, see, search and use the available data in the course of their businesses. Contact and contract conclusion on the offers presented on the Platform take place exclusively between the Investor and the Asset Manager. The Provider only provides a technical platform to exchange digital information, but does not itself become a contractual partner in the offers presented on the Platform.
    2. Passing data exchanged on the Platform on to third parties is not admitted.

    § 4 Retention of Title

    The goods supplied remain in the ownership of the Provider until full payment.

    1. The use of the Platform is free of charge for the Investor.

    § 5 Asset Manager

    1. For the use of the Platform, the Asset Manager pays a fee payable in advance in each case after invoicing. The amount of the fee depends on the data in the offer and/or the Platform.
    2. Use is initially agreed for one year and shall be extended by one year at a time unless it is terminated in writing (e.g. letter, fax, e-mail) with three (3) months' notice prior to the expiry of the term.

    § 6 Warranty

    1. The Provider provides a technical service. The Provider is not responsible either for the content or the economic conditions of the offers of the Asset Managers.
    2. The Provider undertakes to provide 98.5 % average availability over the year. In addition, the warranty provisions of service contracts law apply.

    § 7 Liability

    1. Claims of the Users for damages are excluded. Damages claims of the Users arising from injury to life, body, health or breach of fundamental contractual duties and liability for other damage based on intent or grossly negligent breach of duty by the Provider, its legal representatives or agents are not covered by the exclusion in the previous sentence. Fundamental contractual duties are such the satisfaction of which is necessary for the achievement of the objective of the contract.
    2. For breach of fundamental contractual duties, the Provider is liable only for typical contractual, foreseeable losses if caused by simple negligence unless damages claims of the Users due to injury to life, body or health are concerned.
    3. The limitations in Nos. 1 and 2 also apply in favour of the Provider’s legal representatives and agents if claims are made directly against them.
    4. The limitations of liability in Nos. 1 and 2 do not apply if the Provider has fraudulently concealed the defect or has given a guarantee for the quality of the item. The same applies if the Provider and the User have made an agreement on the quality of the item. The provisions of the Product Liability Act remain unaffected.

    § 8 Concluding Provisions

    1. The law of the Federal Republic of Germany with the exclusion of UN Sales Law applies to contracts between the Provider and the Users. The statutory provisions restricting the choice of law and the application of mandatory provisions especially of the state in which the User as consumer has his/her usual place of abode remain unaffected.
    2. The place of court jurisdiction for all disputes arising out of contracts between the Users and the Provider is the place of the registered office of the Provider.
    3. In the case of the legal invalidity of individual points of the contract, the remaining provisions thereof remain binding. The place of the invalid points, if any, will be taken by the statutory provisions. If that would constitute an unreasonable hardship for one of the Parties, the entire contract will, however, be invalid.