Terms and Conditions

AcreRate.com Terms and Conditions of Service (Revised DRAFT)

 

1. Acceptance and Scope of Services

By accessing or using the services provided by AcreRate.com, you agree to be bound by these Terms and Conditions (“T&C”). These T&C govern your use of the AcreRate platform, which operates solely as a Digital Real Estate Marketplace facilitating connections between buyers and sellers.

 

2. Definitions

  • AcreRate (The Marketplace): The brand name and platform (AcreRate.com) providing marketing services.
  • Services: Marketing, listing display, lead generation, and facilitating the PlatPool interest gathering mechanism.
  • PlatPool: The feature allowing multiple users (buyers) to express collective interest and commitment toward a specific listing to achieve the True Acre Rate.
  • Token/EOI: The initial Expression of Interest commitment displayed on the platform, which is a metric for the pool’s progress. AcreRate does not collect or process the physical funds related to the Token/EOI.
  • True Acre Rate: The concept of the genuine selling price of land achieved by pooling buyers and dealing directly with the farmer/seller.
  • Users: All registered individuals and entities using the AcreRate platform (Buyers, Sellers, Partners).

 

3. Marketplace Role and Financial Disclaimer (CRUCIAL)

  1. Pure Marketplace Function: AcreRate operates strictly as a platform for marketing and information display. We do not participate in the negotiation, execution, or completion of any real estate transaction. b. Zero Payment Collection: AcreRate does not collect, hold, process, or refund any money related to the sale, purchase, rent, Token/EOI commitment, Advance Block Payment, or final sale price of any property listed on the platform. c. Direct User-to-User Payment: All financial transactions, including EOI funds, deposits, final payments, and refunds, must be conducted directly between the Buyer and the Seller/Landowner. AcreRate is not a party to these transactions. d. Financial Liability: AcreRate shall bear no liability whatsoever for any financial loss, payment default, fraud, or misallocation of funds resulting from transactions between Users.

 

4. Legal Assurance and Property Due Diligence

  1. No Legal Warranty: AcreRate provides no warranty, guarantee, or assurance regarding the title, legal status, physical condition, zoning, RERA compliance, or regulatory approvals (NUDA, DTCP, etc.) of any property listed. b. User Responsibility: Users are solely and entirely responsible for conducting comprehensive legal, financial, and physical due diligence, including verification of ownership, boundaries, encumbrances, and all necessary government approvals, prior to committing any funds or finalizing a sale. c. Information Accuracy: AcreRate is not responsible for the accuracy of information provided by Sellers. Users must independently verify all listing details.

 

5. PlatPool Mechanism Terms

  1. EOI as Intent: The EOI Token amount displayed is merely a metric of intent to commit and pool resources. It does not constitute a legally binding contract of sale through AcreRate. b. Allocation: The final allocation of plots and the enforcement of the “First-Come, First-Served” rule within a PlatPool are the sole responsibility of the Seller/Landowner and the pooling group. c. Pooling Failure: AcreRate is not responsible for administering refunds if a PlatPool fails to reach its target. All refund liabilities and terms are managed directly by the Seller/Landowner.

 

6. User Registration and Obligations

  1. Eligibility: Users must be 18 years of age or older and capable of entering into legally binding contracts in India. b. Compliance: Users agree to comply with all applicable local, state, and national laws while using the platform and conducting transactions.

 

7. Disclaimer of Warranties and Limitation of Liability

  1. As-Is Basis: The Services are provided on an “as-is” basis. AcreRate makes no warranty regarding the operation or performance of the platform. b. Limitation of Liability: AcreRate shall not be liable for any indirect, incidental, punitive, or consequential damages arising from the use of the platform or reliance on information posted by Users.

 

8. Governing Law and Jurisdiction (Corporate Office Based)

These T&C shall be governed by and construed in accordance with the laws of India. Any disputes arising out of or in connection with these T&C shall be subject to the exclusive jurisdiction of the courts located in Bengaluru, Karnataka.