Terms of use
1. Introduction, Scope of Agreement, and Acceptance:
1.1. The Operating Entity: Ownership and rights to the REINVEST Platform ("the Platform") belong entirely to and are reserved for Aqaratic Company, a company established under Commercial Register No. 7025782918, with its address at: Al Izdihar District - Riyadh, Kingdom of Saudi Arabia. Hereinafter referred to as "the Company," "the Operating Entity," or "We."
1.2. Comprehensive Acceptance of Policies: By accessing and/or using the Platform, you acknowledge and agree, without reservation, restriction, or modification, to these General Terms and Conditions of Use Agreement ("the Agreement") and to all other policies published on the Platform, which include, but are not limited to: the Privacy Policy, the Payment Policy, and the terms and conditions for specific services in each section of the Platform. Your use of the Platform represents an explicit acknowledgment of your commitment to all these terms and policies.
1.3. Acceptance of Service Terms: The purchase, request, or subscription to any service or feature available on the Platform signifies your explicit consent to the specific terms and conditions of that service, in addition to your agreement to all general policies of the Platform related to that service.
1.4. Legal Document: this Agreement, along with its appendices, constitutes the governing legal document that defines the rights and obligations between you and the Operating Entity of the Platform.
2. Definitions:
- The Platform: Refers to the REINVEST Platform, all its websites, mobile applications, and any services or tools it provides.
- The Company / The Operating Entity / We: Refers to the owner and operator of the Platform (Aqaratic Company), its branches, employees, agents, and affiliated companies.
- The User / You: Refers to the natural or legal person who uses and/or accesses and/or benefits from any of the services available on the Platform.
- Content: Refers to any information, materials, data, texts, images, graphics, or video clips published or made available on the Platform.
- Services: All features, functions, and products provided by the Platform within its various sections.
3. Intellectual Property Rights:
3.1. Trademark: REINVEST is a fully registered trademark owned by the Company at the Saudi Authority for Intellectual Property (SAIP).
3.2. Content Ownership: The copyrights for all materials, information, and content included on the Platform, including designs, graphics, logos, software, and databases, are the sole and exclusive property of the Company.
3.3. Prohibition of Exploitation: The User may not copy, extract, publish, upload, transmit, or distribute any content on the Platform by any means whatsoever, except as expressly permitted by the Company. The use of any part of the Content for private commercial purposes outside the scope of the Platform's legitimate use is strictly prohibited without prior written consent from the Company.
4. Terms and Controls for Acceptable Use and General Obligations:
By accessing and/or using the Platform, you acknowledge and agree, without reservation or restriction, to:
4.1. You acknowledge and warrant your full legal capacity (including reaching the legal age) to enter into this Agreement and to comply with all its terms and conditions.
4.2. You undertake to use the Platform in your personal capacity or on behalf of a person or entity that you have the full and documented legal right to represent on the Platform (whether by power of attorney, employment, or any other official authorization), and you pledge not to use the Platform on behalf of any person or entity you are not authorized to represent.
4.3. You undertake to ensure the correctness, accuracy, completeness, and reliability of all information, data, and documents you enter into the Platform, whether it is user information or content entered for sharing or advertising via the Platform.
4.4. You bear full and exclusive responsibility for any claims, damages, or legal consequences arising from the inaccuracy, incorrectness, or incompleteness of that data.
4.5. You bear full responsibility for maintaining the confidentiality of your login information (including the password), and you are responsible for all activities and transactions performed under this account.
4.6. You are obligated to immediately notify the Company of any unauthorized use or potential breach of your account.
4.7. You undertake to use, browse, or deal with the Platform in any way that does not constitute a violation of the regulations, provisions, and rules in force in the Kingdom of Saudi Arabia.
4.8. You are obligated to ensure that all governmental requirements and obligations apply to you, and that you have obtained all required licenses and permits to practice activities or benefit from services that require an official license.
4.9. You are obligated to pay all due fees for services provided by the Platform upon their due date and in accordance with the approved payment policy.
4.10. You acknowledge that you bear the responsibility to verify, audit, and ensure the correctness of the details of any content, advertisement, investment opportunity, or property published on the Platform before making any decision regarding it.
4.11. You bear the responsibility of seeking specialized consultants (financial, legal, technical) and obtaining legal advice before committing to any purchase or lease transaction, investment operation, or other deals.
4.12. You are obligated to ensure you act in good faith and professionally towards the Platform and any other parties you deal with through the Platform.
5. Strict Prohibitions and Misuse:
The User is strictly prohibited from engaging in any of the following actions, including but not limited to:
5.1. Publishing, distributing, or uploading any misleading, deceptive, fictitious, false, inaccurate, libellous, defamatory, threatening, abusive, racist, indecent, or morally inappropriate content or any content that violates applicable regulations.
5.2. Publishing any information or content that you do not have the legal right to publish or share.
5.3. Addressing international policies or sovereignties, respected figures, or engaging in any discussions that are not directly and professionally related to the real estate and investment services provided on the Platform.
5.4. Infringing copyrights, trademarks, patents, databases, or other intellectual or property rights owned or licensed by the Platform or owned by any other user.
5.5. Copying, extracting, re-publishing, or exploiting any content or materials from the Platform and distributing them on any other websites or media without explicit prior written consent from the content owner or the Platform.
5.6. Using or accessing the Platform in any illegal or fraudulent manner.
5.7. Impersonating any other person, or impersonating the Platform, its representative, or an employee without official permission.
5.8. Attempting to cheat, lie, deceive, or trespass to harm any other user within the Platform.
5.9. Interfering with the operation of the Platform or attempting unauthorized access to the server or databases connected to the Platform.
5.10. Sending or attempting to send any computer viruses, malicious software, defects, or any other destructive materials.
5.11. Using any manual methods, or any software, devices, or robots (such as "bots" or "crawlers") to extract, collect, or gather information and data related to the Platform or its users for the purpose of benefiting from it or re-publishing it without permission.
5.12. Using any technical means (including - but not limited to - attempting to conceal identity via VPN or Proxy software) to bypass the preventive measures applied by the Platform when violating the terms and conditions or to violate them.
6. Terms for Advertised Real Estate Offers and Projects:
6.1. Source of Advertisement: The User acknowledges that the real estate offers and projects published on the Platform are posted by other users (advertisers) or independent third parties, and the Platform or the Operating Entity does not directly own these assets.
6.2. Data Responsibility: The Platform or the Operating Entity bears no responsibility for the accuracy, correctness, completeness, or reliability of the information, data, images, and documents provided in these advertisements.
6.3. Burden of Verification: The User, whether advertiser or data seeker, bears the responsibility to verify, audit, and ensure the correctness and accuracy of all mentioned information, and must take the necessary due diligence procedures.
6.4. Nature of Communication and Deal: Communication between the advertising user and the user seeking the property is direct and outside the Platform's supervision, and the Platform does not interfere in the terms or conditions of this communication or the completion of the real estate deal between the two parties, and is not considered a party to it, unless otherwise agreed.
7. Real Estate Data and Indicators Terms:
7.1. Data Source: The real estate data and indicators available on the Platform are provided based on the analysis of aggregated information from sources affiliated with the Platform or its partners, and the Company is not responsible for errors or omissions in this data.
7.2. Informational Nature and No Guarantee: The User acknowledges that this data and indicators are for informational and cognitive purposes only, and may not necessarily indicate the actual price or market value of the property or asset displayed or traded.
7.3. Disclaimer of Investment Advice: The Company clearly states that the provision of this data does not constitute investment, financial, or legal advice in any way, and should not be interpreted as guidance to the User to take any specific decision or investment direction.
8. Real Estate Requests Terms:
8.1. The User is allowed to submit a real estate request to be met by other users on the Platform, with the commitment that the request is genuine, realistic, and does not violate any applicable regulations.
8.2. The Platform reserves the right to approve or deny the publication of the request, according to its internal standards.
8.3. The Platform reserves the right to stop publishing or delete the request at any time without the need to provide prior justification to the User.
8.4. The Platform reserves the right to specify a certain number of requests that a single User is allowed to publish during a specific period.
9. Electronic Auctions Participation Terms:
By participating in any auction on the Platform, you acknowledge and commit to the following:
9.1. Advertising Data: The asset is advertised based on the data and specifications contained in its official document.
9.2. No Responsibility for Discrepancies: The Company (Platform) bears no responsibility for any discrepancy in the property or asset on the ground (in area, specifications, or physical condition) from what is recorded in the document or advertisement. The burden of comprehensive verification and inspection lies solely with the user to whom the auction is awarded.
9.3. Withdrawal of Asset: The Platform reserves the right to withdraw any asset from the auction, modify the auction terms, or cancel it at any time before its closing, in accordance with the specified auction terms.
9.4. Acceptance of Special Terms: Your participation in any auction is considered your explicit and irrevocable agreement to the specific terms and conditions of that auction, which are an integral part of this Agreement and take precedence.
9.5. Binding Bid: Every bid or increase submitted is considered a legally binding offer and is irrevocable or withdrawable after submission.
9.6. Inspection and Verification: The User is obligated to inspect the asset offered for sale during the announcement period (if any) and must verify its condition and documents before submitting any bid.
9.7. Participation Fee (Deposit): The fee is considered part of the price for the party to whom the auction is awarded, and they are not entitled to a refund if they subsequently fail to pay the remaining price.
9.8. Final Price and Commission Payment: Upon the auction being awarded, the Buyer is obligated to pay the full remaining sale price, including the due commission, immediately upon issuance of the payment invoice and within the approved collection period.
9.9. Real Estate Disposal Tax: The Buyer is obligated to pay the Real Estate Disposal Tax at 5% (or the legally applicable rate) of the total sale price, and the payment must be made during the specified collection period.
9.10. Payment Deadline: The Buyer is obligated to pay the remaining amount of the sale price (upon transfer of ownership) within a maximum period of five days from the date of the auction's end or within the period specified in the auction terms.
9.11. Failure to Pay and Penalties: If the Buyer fails to pay the full price within the specified period, they are subject to the following penalties:
- Forfeiture of Participation Fee: The Buyer loses the right to claim the paid amount, which reverts entirely to the Company (Platform).
- Termination of Right to Asset: The Buyer's right to the property or asset is terminated.
- Re-Sale and Cost Bearing: The Operating Entity has the right to sell the property to other buyers, and the defaulting Buyer bears all costs of the re-sale and any losses resulting from the price difference in the new sale.
10. Shared Workspace Booking Terms:
By attempting to book or completing a booking for any space offered in the service, you acknowledge and commit to the following:
10.1. Payment and Conditions Commitment: Your commitment to paying the full booking value and agreeing to all specifications and conditions of the space specified at the time of booking.
10.2. Lawful Use: You are obligated to adhere to public morals and the applicable regulations and to refrain from using the space for any illegal, disturbing, or morally contrary purposes.
10.3. Application of Cancellation Policy: The specified cancellation and refund policy for the space applies to you in case you want to cancel the booking, and your approval of the booking is considered a final acceptance of that policy.
10.4. Identity Matching: Your consent to our right to match your identity with the identity used during the booking process and to prevent you from using the space if they do not match.
10.5. Good Conduct and Responsibility: The commitment to good conduct while present and not to misuse or abuse any of its facilities, and to absolve the Platform of any damages caused by you to the space.
10.6. Platform Disclaimer for Complaints: Absolving the Platform of responsibility in case no complaint related to the booking is submitted 48 hours after the end of the booking period.
10.7. Data Sharing: Your agreement to share your data with the competent authorities upon their request, in case it is proven that you have caused damage or violated regulations, with the Platform absolving itself of responsibility.
10.8. The Platform reserves the absolute and unconditional right to cancel any confirmed booking for the space at any time and for any reason it deems appropriate, even after it has been officially confirmed.
10.9. In case the Platform cancels any booking, the User acknowledges that they are not entitled to claim any compensation or damages, whether direct or indirect, resulting from this cancellation.
10.10. The Platform's responsibility in case of booking cancellation is limited to refunding the amounts paid by the User, and this is done exclusively in accordance with the approved payment policy on the Platform.
11. Private Deals Terms:
11.1. Service Mechanism: The Platform provides a service that allows the User to submit a private real estate request or offer, which the Platform undertakes to work on directly without publishing it publicly on the Platform's general sections.
11.2. Special Service Terms: The User acknowledges that the Platform's work on this private request is under specific terms and conditions that were agreed upon and explicitly accepted by the User when purchasing this service, and these special terms are binding on both parties.
12. Opportunity Hub Service Terms:
12.1. Service Nature: The "Opportunity Mine" service means the User purchases analytical materials and investment reports prepared by the Platform or its experts, with the aim of providing Users with insights and information about potential real estate investment opportunities.
12.2. Special Terms for Each Opportunity: The User acknowledges that the purchase of these materials is under special terms and conditions for this service, and declares that each opportunity or analytical report has its own specific terms and conditions and investment risks which the User solely bears the responsibility of reading and accepting.
12.3. Responsibility of Purchase: The User's purchase of any analytical material from the "Opportunity Mine" service is considered a final and explicit acceptance of the terms, conditions, and risks of that specific opportunity stipulated in the report.
13. Real Estate Services Request Terms:
When you send a request for a real estate service from the "Other Services" page, you agree to the following:
13.1. Service Offers: The Platform allows other users (service providers) to offer their specialized real estate services through the Platform.
13.2. Submitting the Request: Users can submit requests for real estate services, and the Platform, in this case, sends these requests directly to the relevant service provider.
13.3. Disclaimer of Responsibility for Requests: The Platform bears no responsibility for the accuracy of the data or information sent by the service requester to the service provider.
13.4. Disclaimer of Responsibility for Response: The Platform bears no responsibility towards the User for any response or lack thereof from the service provider, or for the quality or efficiency of the service provided by a third party.
14. Advertising Materials and External Links Terms:
14.1. Source of Advertisements: The Platform has the right to display advertising or promotional materials from its users or from third parties for services and products that are not related to it or not owned by it.
14.2. Disclaimer of Responsibility for Advertising Content: The Platform bears no responsibility for the content, correctness, efficiency, or legality of the advertised products or services displayed in those advertisements.
14.3. Denial of Guidance and Encouragement: The Platform explicitly declares that it does not guide or encourage the User to purchase or not purchase or benefit from the services or products displayed in those advertisements, and that the responsibility for interacting with them or making a purchase decision lies solely with the User.
14.4. External Links: Those advertisements or some Platform content may include links that direct the User to external websites, applications, or platforms.
14.5. Full Responsibility: The User acknowledges bearing full and exclusive responsibility regarding the policies, terms, and conditions of those external links and platforms, and the Platform declares its exoneration from any damages arising from the User's use of those links.
15. Precautionary Measures:
15.1. In an effort to raise the level and quality of service provided to Platform Users and to ensure strict compliance with this Agreement, and following your acceptance of these terms, you grant the Company the full and absolute right to apply any of the following measures without prior warning or notification, if it determines, in its sole discretion, that you have breached or violated any clause of this Agreement:
- Membership Suspension and Ban: Suspending your membership and permanently or temporarily banning you from using all or any of the Platform's services, while reserving the right not to compensate you for any pre-paid services you were subscribed to.
- Content Deletion: Deleting all or any materials or content that the User has published or made available on the Platform without bearing any responsibility for any loss arising from that.
- Reporting Activities: Reporting your activities to the competent authorities or regulatory bodies, and consenting to the disclosure of your data to these entities.
- Legal Action: Taking any other legal or administrative actions against you to claim compensation for damages, costs, or incurred legal fees.
16. Disclaimer:
16.1. No Warranties: We offer no warranties or guarantees, whether express, implied, or statutory, regarding the materials and information included therein, including - without limitation - warranties of non-infringement of third-party rights, or the accuracy, completeness, or correctness of any information contained in the content published on the Platform by users.
16.2. User Responsibility: The Platform bears no responsibility for the accuracy, completeness, or correctness of any information contained in the content published on the Platform by users, nor for their compliance with applicable regulations and laws. Users alone bear the responsibility to verify the correctness of the published content before conducting any deal or commitment.
16.3. No Responsibility for Violations: The Platform offers no warranties and bears no responsibility in case the User violates the terms and conditions of this Agreement, nor does it bear responsibility for any risk, damage, consequence, or loss that occurs to them or any other party as a result.
16.4. Limitation of Liability: The Company shall, in no event, be liable to you for any loss or damage arising out of or in connection with your use of, or inability to use, the Platform, or reliance on any content or service, whether the damage is: direct, indirect, consequential, special, or punitive, and this includes - without limitation - compensation for loss of data or profits, loss of reputation, business interruption, or damage or corruption of data.
16.5. Technical Damages: The Platform is not responsible for any loss or damage resulting from any virus, service interruption attack, cyber attack, or other technically harmful materials that infect your devices, computer programs, data, or other property as a result of your use of the Platform or your downloading of any content on it or on any linked website.
16.6. Force Majeure: The Platform bears no responsibility towards you for any loss or damage arising from any failure due to software, internet errors, unavailability, or any other reasons beyond our reasonable control, or any loss of password or account due to a power outage, failure, stoppage, or due to your computer system or your account.
16.7. Responsibility for Technical Procedures: The Platform bears no consequences or compensation in case the User performs any technical action that does not observe accuracy and credibility (for example, but not limited to: phishing links and data or electronic fraud operations), and the User must exercise accuracy in all their operations on the Platform to ensure their safety.
17. Indemnification, Governing Law, and Dispute Resolution:
17.1. Indemnification: The User is obligated to protect and fully indemnify the Platform and all its contractors, employees, and agents for any and all obligations, losses, claims, and expenses (including legal fees and attorney's fees) and damages (whether direct or indirect) arising from claims resulting from your misuse of the Platform or your violation of any clause of this Agreement or any of the Platform's policies.
17.2. Criminal and Civil Responsibility: You bear all legal, criminal, and civil responsibility resulting from any violation of this Agreement or the regulations in force in the Kingdom of Saudi Arabia by you.
17.3. Governing Law: This Agreement is governed by and shall be interpreted in accordance with the laws and regulations of the Kingdom of Saudi Arabia.
17.4. Dispute Resolution: Any dispute or claim arising out of or in connection with this Agreement shall be referred exclusively to arbitration before the Saudi Center for Commercial Arbitration (SCCA) to be decided in accordance with the Center's Arbitration Rules.
17.5. Place of Arbitration: The place of arbitration shall be Riyadh, Kingdom of Saudi Arabia.
18. Amendments and Updates:
18.1. Amendment of the Agreement: We reserve the right to make amendments or updates to these Terms of Use from time to time without the need to obtain your consent.
18.2. Responsibility for Review: It is your responsibility to regularly review these pages to check for the latest version of the Terms of Use. Your continued use of the Platform after the publication of any amendments is considered your final acceptance of those changes.