Terms and Conditions of Application Process
- Who we are: we are Juice Ventures Limited. Our company number is 12011847 and our registered office is Eagle House 5th Floor, 50 Marshall Street, London, England, W1F 9BQ. (“We”/”we”/”Us”/”us”/”Our”/”our”/”Juice“).
- What these Terms and Conditions cover: these Terms and Conditions set out the basis on which your company agrees to participate in our process of searching for one or more outstanding businesses it can offer up to £1M of funding on the most favourable terms we have to offer (“Application Process“). By applying by way of the form on our website for your company as identified on that form (“your company“) to be considered in that Application Process (making your company’s “Application“), you commit your company to the terms set out in these Terms and Conditions. In return, Juice agrees to act in accordance with these Terms and Conditions in the way it manages and determines the Application Process. We will not make any charge to your company for your company’s Application or for any part of the Application Process, but your company will be responsible for any expenses your company decides to incur to other parties in relation to it.
- Eligibility to enter the Application Process: Only private limited companies registered in England and Wales are eligible to enter the Application Process. Only one Application may be made by your company. If more than one Application is made by your company all Applications by your company will be terminated automatically with immediate effect.
- How to enter the Application Process: to enter your company into the Application Process you must apply by way of our website by completing in full the forms set out there on behalf of your company. When you have completed that form and acknowledged that you have read, understood and agreed to these Terms and Conditions on behalf of your company, and confirmed that you are duly authorised to do so on behalf of your company, you will have made your Application on behalf of your company. In doing so you will have confirmed that you understand that the legal person making the Application is your company and not you or any other living individual person. You will remain the point of contact between Juice and your company throughout the Application Process and references in these Terms and Conditions to “you” will refer to you as an individual acting as the representative of your company.
- What happens after your company makes its Application: Following receipt of your company’s Application Juice will conduct the Application Process summarised at paragraph 8, subject always to Juice retaining the right to depart from that Application Process where the same may be necessary for any reason, including (without limitation) where as a result of the nature of the applications made the Application Process cannot be conducted in accordance with paragraph 8 for practical reasons. If your company passes successfully through subsequent stages of the Application Process as summarised at paragraph 8, you will be requested to provide further information, data and documents on behalf of your company. Your company may provide such information, data and documents or your company may choose not to do so. Your company is entirely free to choose not to do so but that will result in your company’s Application being terminated with immediate effect. Your company can withdraw from the Application Process at any time up to the time when your company has executed legally binding agreements with Juice providing for funding for your company by emailing us at email@example.com .
- If your company is successful in the Application Process: We are searching for one or more outstanding businesses Juice can offer up to £1M of funding on the most favourable terms we have to offer. If your company is successful we will offer funding to your company in the amount and on the terms we notify to your company at that time. Such terms may include terms providing for the grant to Juice of the right to publicise the outcome of the Application Process making use of the name of your company and applicable details and information concerning your company including the identity of certain of its key personnel, and the nature and extent of the funding provided to your company, together with other advertising, marketing and promotional rights in relation to your company and certain of its key personnel. Your company will not be obliged in any way to accept the offer to your company made by Juice or to proceed with that funding in any way, but will have the right to accept, decline or negotiate the terms of the same in the same manner as any customer of Juice. We also will have the right to withdraw or not to proceed with that offer of funding if the terms of it cannot be agreed with your company to our satisfaction or any fact, matter or circumstance arises or becomes known to us at any time after the offer is made and before the appropriate terms of the funding are concluded as legally binding agreements.
- No funding under these Terms and Conditions: these Terms and Conditions relate solely to the Application Process operated by Juice and your company’s participation in it. Juice will not provide any funding under these Terms and Conditions to any person or company. If your company is successful in its Application and is offered funding by Juice, that offer will be made by Juice on the specific terms which will be provided to your company in full as part of that offer as referred to at paragraph 6. Your company will be invited to take independent and specialist legal and other professional advice at that time on the terms of that offer.
- The form of the Application Process: Juice intends to conduct its Application Process using the following process (although Juice reserves the right to depart from this process where the same is necessary for any reason or to abandon this process at any time as referred to in these Terms and Conditions):
Stage Two: we will consider your company’s Application to see whether your company fits our outline criteria for funding and can therefore be chosen to proceed to the next stage of the Application Process. We will notify you whether or not your company has been chosen to proceed to the next stage of the Application Process within one business day of the closing date for applications to be submitted under stage one. If your company has passed to the next stage you will be asked to answer further questions about your company and its vision for the future by completing a further form on our website. You will need to answer all the questions on this form and to submit the answers to us within the time period notified to you in order to be eligible to pass into the third stage of the Application Process.
Stage Three: we will consider your company’s responses and the information your company has provided to determine whether your company will be chosen to proceed to the next stage of the Application Process. We will notify you whether or not your company has been chosen to proceed within two business days of the date on which the time deadline for your company’s answers to be submitted at stage two expired. If your company is chosen to proceed to the next round of the Application Process we will then also require you to supply further information about your company and its business. This will include a Zoom meeting between your company’s key personnel and our Due Diligence team, and we will ask you to submit financial and marketing data about your company. We will also ask you and/or other key individuals in your company to provide details of your/their identity so we can comply with our regulatory requirements. We will supply details of the time by which these steps need to be completed and all relevant information supplied at the time we notify our requests to you.
Stage Four: if your company has provided all the information requested from it to us to our satisfaction we will then notify you whether or not your company has been chosen to proceed to the next stage of the Application Process by email as soon as the decision has been made. We will then outline to you the process and timescales for stage four, which will include an assessment of your company’s Application and all the information, documents and data provided by your company to us to an independent judging panel which will assist us in making our selection of the companies chosen to proceed to the final stage of the Application Process.
Stage Five: we will then notify you whether or not your company has been chosen to proceed to the final stage of the Application Process by email as soon as the decision has been made. If your company has been chosen to proceed, the final stage of the Application Process will be the consideration of your company’s Application and all the information, documents and data provided by your company to us by our Credit Committee.
We expect to be in a position to announce the company or companies which have been selected, or that no company has in fact been selected, to receive the funding on offer, by 31st July 2021.
Please note that, while a number of companies will be considered for selection throughout this Application Process, this is an Application Process not a competition, and we reserve the right to offer funding in any sum to one company, more than one company, or to no company at all.
- What your company undertakes to us: By making your company’s Application and entering into the Application Process your company agrees and undertakes to Juice that your company:
- Is seeking the funding offered by Juice in good faith and will act in good faith throughout the Application Process;
- Will provide all information forming part of your company’s Application and any information, data or documents provided by your company at any time during the Application Process in good faith and to the best of its directors’ knowledge and belief;
- In providing any information forming part of your company’s Application and any information, data or documents provided by your company at any time during the Application Process to Juice it will comply in all respects with any and all applicable legislation relating to data protection, including without limitation the Data Protection Act 2018;
- Will comply with these Terms and Conditions in relation to the Application Process;
- Will not knowingly mislead Juice in any way in the course of the Application Process.
- What we undertake to your company: We agree that in relation to the Application Process we shall:
- Consider your company’s Application in good faith according to our standard lending criteria;
- comply with these Terms and Conditions in relation to the Application Process;
- Seek to apply our standard lending criteria fairly, subject always to the terms of paragraph 11(c);
- Notify you promptly of the outcome of your company’s Application in accordance with the timings of the Application Process.
- Our Conduct of the Application Process: We are running the Application Process on the following strict understandings:
- We will automatically reject any Application which we consider has been automatically generated by any computer or software system, has been completed in bulk or by any third party who is not duly authorised to act on behalf of your company and to bind your company to these Terms and Conditions, or which is incomplete;
- The Judging Panel which will consider those applications which reach that stage of the Application Process will consider those applications independently and their decision will be final in determining which applications go forward to the next stage of the Application Process;
- While we will endeavour at all times to act fairly and in accordance with our standard lending criteria in deciding whether or not your company’s Application may proceed at any stage of the Application Process and/or whether it is ultimately successful, there is always subjective judgment involved in the decision whether or not to provide funding and the final decision as to your company’s Application and whether funding is awarded will be a decision taken by Juice in its absolute discretion;
- We cannot provide feedback on your company’s Application if it is unsuccessful and cannot and will not correspond with you or your company or engage in any discussions with you or your company in any form about your company’s Application except in the ordinary course of the Application Process unless your company’s Application is successful;
- If your company fails to comply with any requirements, requests for information, data or documents or any time limits in the Application Process your company’s Application will be terminated automatically with immediate effect;
- Juice can accept no responsibility for any Application and/or any documents, data or information that are lost, mislaid, damaged or delayed in transit, regardless of cause, including, for example, as a result of any postal failure, equipment failure, technical malfunction, systems, satellite, network, server, computer hardware or software failure of any kind;
- Juice reserves the right not to award funding to any company at the conclusion of the Application Process and to hold void, suspend, cancel, or amend the Application Process where it becomes necessary to do so for any reason;
- Juice will keep confidential your company’s Application and any information, data and/or documents submitted by or on behalf of your company to Juice during the Application Process and not disclose or use the same except:
- as is required for the proper conduct of the Application Process (including where applicable and without limitation, disclosure of the same to the Judging Panel);
- as may be required by law, by the order of any Court or by any competent regulatory body (including any applicable stock exchange);
- we will retain records of the Application Process and your company for our records and archival purposes;
- in accordance with any consent or other agreement with you, your company or any other person entitled to provide such consent or agreement in relation to the information, data and/or documents in question;
- nothing in this clause shall apply to information which is not confidential or which was known to Juice before it was disclosed by your company or is generally available or is disclosed to us by any person not subject to any duty of confidentiality in relation to the same.
- If your company’s Application is successful your company will be provided with an offer of funding in the terms presented to your company by Juice at that time. Please see paragraphs 5 and 6 for further details.
- Limitation of Liability: Insofar as is permitted by law, none of Juice, its officers, employees, agents or contractors will in any circumstances be responsible or liable to compensate your company or any of its officers, employees, agents or contractors or accept any liability for any loss, damage, prejudice or other claims of any nature arising out of or in connection with your company’s Application, the Application Process or the results of the same or any other matter arising out of or in connection with these Terms and Conditions.
- Ownership of Applications and intellectual property rights: Your company’s Application and any information, data and/or documents submitted to Juice during the Application Process by or on behalf of your company (together, “Materials”) will become the property of Juice on receipt and will not be returned. By submitting your company’s Materials, your company agrees to grant to Juice an irrevocable, perpetual, worldwide, royalty free and non-exclusive licence in respect of all your company’s intellectual property rights in and in relation to the Materials entitling Juice to make all use of the Materials it may require in order to proceed with the Application Process or to make use of the same as permitted in these Terms and Conditions, and your company waives (or will procure the waiver of) all moral rights in and in relation to the Materials, and otherwise arising in connection with your company’s Materials.
- Jurisdiction and Disputes: These Terms and Conditions shall be governed by English law, and the parties submit to the non-exclusive jurisdiction of the courts of England and Wales.