Terra — Terms and Conditions
DRAFT — pending legal review. This document is not yet in force.
These terms govern your use of Terra, the real estate appraisal and financial modelling service provided by Terra Appraisal Ltd (company number 15936013, registered office 128 City Road, London EC1V 2NX) ("Terra", "we", "us"). By ticking the box at sign-up you agree to these terms, including the disclaimer in section 8, and they apply to everything you do in the Service afterwards, including subscribing to a paid Plan. If you do not agree, do not use the service.
If you are using Terra on behalf of a company or firm, you confirm that you have authority to bind that organisation, and "you" means the organisation.
1. Definitions
- Service — the Terra web application at terra-appraisal.com, including all appraisal, calculation, export and related features.
- Appraisal — a set of assumptions you enter into the Service and the cash flows, metrics and files the Service produces from them.
- Output — any figure, cash flow, metric, workbook or file generated by the Service, including Excel exports.
- Plan — the Free, Basic or Pro tier described on the Pricing page, or any team plan agreed separately in writing.
- Minimum Term — for monthly Plans, three months from the date of your first payment; for annual Plans, twelve months from the date of your first payment.
- Billing Period — one month or one year, according to your Plan.
2. Your account
2.1 You must provide a valid email address and keep your login details confidential. You are responsible for everything done under your account.
2.2 You must be at least 18 and, if using the Service in a professional capacity, appropriately qualified to interpret the Output.
2.3 One account is for one person. Team plans allow the number of users agreed in writing.
2.4 We may suspend or close an account that breaches these terms, is used fraudulently, or presents a security risk. Where practical we will tell you first.
3. Licence and acceptable use
3.1 We grant you a non-exclusive, non-transferable licence to use the Service for your own business or personal appraisal work for as long as your account is in good standing.
3.2 You must not: resell or sublicense the Service; use it to build a competing product; reverse-engineer, scrape or copy its calculation logic; share login details; attempt to bypass Plan restrictions; or use it for anything unlawful.
3.3 Excel workbooks exported from the Service are yours to use, share and modify. You must not remove the disclaimer sheet from an exported workbook that you send to a third party.
4. Plans and trial
4.1 Plan features and prices are as shown on the Pricing page at the time you subscribe.
4.2 Free Plan. No payment. Appraisals are not stored on our servers; your saved record is the workbook you export. We may change or withdraw the Free Plan on thirty days' notice.
4.3 Trial. New accounts may take a 14-day trial of the Pro Plan without payment. At the end of the trial the account reverts to the Free Plan unless you subscribe to a paid Plan.
4.4 We may add, change or remove features. We will not remove a feature that is central to your Plan during a Billing Period you have paid for without offering a refund for the remainder of that period.
5. Fees, renewal and cancellation
5.1 Prices are shown in pounds sterling and exclude VAT, which is added at the applicable rate.
5.2 Payment is taken by card through our payment provider at the start of each Billing Period. You authorise us to charge the card on file for each renewal.
5.3 Minimum Term. Paid Plans have a Minimum Term. You cannot end a paid Plan before the Minimum Term expires, and no refund is given for any part of it.
5.4 Automatic renewal. After the Minimum Term, your Plan renews automatically for successive Billing Periods until you switch off automatic renewal in My Account. When you do, your Plan stays active until the end of the Minimum Term or the current Billing Period, whichever is later, and then stops. You may switch renewal back on at any time before that date.
5.5 Renewal price. Each renewal is charged at the list price in force on the renewal date, not the price when you first subscribed. If we change list prices we will email you at least thirty days before the change affects your next renewal. If you do not accept the new price, switch off automatic renewal before the renewal date.
5.5.1 Your price is held for the Minimum Term. A change in list prices does not affect any renewal falling within your Minimum Term. You continue at the price you subscribed at until the Minimum Term ends, and the new price applies from the first renewal after that. On an annual Plan this means the price you paid holds for the year you have paid for.
5.6 Beta tester discount. Accounts we have designated as beta testers receive 50% off the list price of Basic or Pro for twelve months from their first payment. After twelve months the Plan continues at the list price then in force. The discount is personal, cannot be transferred, and does not apply to team pricing.
5.7 Changing Plan. You may upgrade at any time; the difference is charged pro rata and the Minimum Term is not restarted. Downgrades take effect at the next renewal.
5.8 Failed payments. If a renewal payment fails we will retry and email you. If payment is not received within fourteen days we may downgrade the account to the Free Plan.
5.9 Refunds. Other than as set out in 4.4 and 13, fees are non-refundable.
6. Your data and content
6.1 You own the assumptions you enter and the Appraisals and Output produced from them.
6.2 We store Appraisals for Basic and Pro accounts so you can save, restore and share them. We store nothing for Free accounts other than your account details.
6.3 You grant us a licence to store, process and transmit your data only as needed to run the Service and to produce your Output.
6.4 We do not use your Appraisals to train models, benchmark other users, or for any purpose other than providing the Service to you, unless you agree in writing.
6.5 Personal data is handled in accordance with our Privacy Policy.
6.6 If your account is closed we may delete your stored Appraisals after thirty days. Export anything you want to keep before then.
7. Intellectual property
7.1 The Service, its calculation engine, workbook templates, design, code and documentation belong to Terra Appraisal Ltd. Nothing in these terms transfers any of that to you.
7.2 Terra is not affiliated with, endorsed by or sponsored by any other software provider named on our site for comparison purposes. Their names are trademarks of their respective owners.
8. The Output — no warranty
8.1 The Service is a modelling tool. It turns the assumptions you enter into cash flows and metrics. It does not check whether your assumptions are reasonable, complete, or appropriate for the property or transaction you are appraising. That is your professional judgement, not ours.
8.2 The following disclaimer appears on the first sheet of every workbook exported from the Service and applies equally to everything the Service shows on screen. In the exported workbook, "the Supplier" is the name entered in the account's entity field or, if none is set, "the person supplying this financial model".
Disclaimer
This financial model — this workbook and all computations and assumptions in it (the "Model") — was prepared using Terra, software provided by Terra Appraisal Ltd ("Terra"), and is supplied by the account holder who generated it (the "Supplier"). The Supplier, Terra, and their respective directors, partners, members, officers, employees, agents and advisers are together the "Excluded Parties".
The Model has not been audited. No Excluded Party makes any representation, warranty or undertaking, express or implied, as to the adequacy, accuracy, completeness or reasonableness of the Model, its computations, or the assumptions on which they are based, and each Excluded Party excludes all liability for them to the fullest extent permitted by law.
The Model is not a valuation, investment advice or a recommendation. Its outputs depend entirely on the assumptions entered. The recipient receives and uses the Model at their own risk, will be deemed to have carried out their own review and due diligence, and, unless the Supplier and Terra have agreed otherwise in writing, has no claim against any Excluded Party for any loss arising from its use — including loss caused by a computer virus or other defect in the file.
8.3 The Output is not a valuation, investment advice, tax advice, legal advice, or a recommendation to buy, sell, lend or develop. You should not rely on it as such and should obtain appropriate professional advice before acting.
8.4 Where the Service is used to support a formal valuation or report, you remain solely responsible for that valuation or report and for compliance with any professional standards that apply to you.
8.5 We aim to keep the Service available and accurate but do not promise that it will be uninterrupted, error-free or free of defects. If you find a calculation error, tell us and we will investigate.
9. Limitation of liability
9.1 Nothing in these terms limits liability for death or personal injury caused by negligence, for fraud, or for anything else that cannot lawfully be limited.
9.2 Subject to 9.1, we are not liable for any loss of profit, loss of business, loss of opportunity, loss of data, or any indirect or consequential loss arising from your use of the Service or reliance on the Output.
9.3 Subject to 9.1, our total liability to you in any twelve-month period is limited to the fees you paid us in that period.
9.4 These limits reflect the price of the Service and the fact that the Output depends on assumptions we do not control.
10. Availability, security and changes
10.1 We may take the Service offline for maintenance. Where possible we will schedule this outside UK working hours.
10.2 We use industry-standard measures to protect your data, described in the Privacy Policy. No online service is perfectly secure and you should keep exported copies of important work.
10.3 We may update these terms. When we do, we will publish a new version with a new version number and ask you to accept it on your next sign-in. Continued use after acceptance constitutes agreement. If you do not accept, you may switch off automatic renewal and your Plan will end as set out in 5.4.
11. Termination
11.1 You may close your account at any time from My Account, subject to the Minimum Term and 5.4.
11.2 We may end these terms immediately if you materially breach them and do not remedy the breach within fourteen days of being told, or if the breach cannot be remedied.
11.3 Clauses 6, 7, 8, 9 and 12 survive termination.
12. General
12.1 These terms are the whole agreement between you and us about the Service and replace any earlier terms.
12.2 If any part of these terms is found unenforceable, the rest continue in force.
12.3 You may not transfer your rights under these terms. We may transfer ours to a successor business on notice to you.
12.4 These terms are governed by the law of England and Wales and the courts of England and Wales have exclusive jurisdiction, except that if you are a consumer resident elsewhere in the UK you may bring proceedings in your local courts.
13. If you are a consumer
If you are subscribing as an individual for purposes wholly or mainly outside your trade, business or profession, you have rights under consumer law that these terms do not affect. In particular you may cancel a paid Plan within fourteen days of subscribing and receive a refund, less a proportionate charge for any period of use if you asked us to start the Service immediately. Nothing in section 9 limits our liability to you for our failure to use reasonable care and skill.
14. Contact
Terra Appraisal Ltd, 128 City Road, London EC1V 2NX info@terra-appraisal.com