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Terms of Sale

Terms and Conditions 


Capital Economics means:  the Capital Economics entity listed on our invoice referred to as “we” or “us”. 

Data means: the reports, analysis, publications, databases and other information made available to you as part of the Services;

Services means:  those services that you have access to as part of your subscription or as otherwise supplied by us (including those provided free of charge) including the Data. 

Terms and Conditions means: these terms and conditions. 

You means: the company or person to whom we provide the Services, as stated on an invoice. 

Supply of Services 

2.1        We will supply Services to you on the basis of our pricing proposal, your purchase order (if any), any email confirmation we supply and these Terms and Conditions.  Together these documents contain the entire agreement and understanding between us. Any orders for Services, however placed with us, shall be governed by these Terms and Conditions.   Any other terms and conditions contained in or referred to in any order, purchase order, order confirmation or elsewhere shall not apply unless contained in an agreement signed by both of us. 

2.2        Our quotes expire after 30 days. 

2.3        Any discrepancy between the Services ordered and those stated on the invoice must be notified to us in writing within 14 days of the date of the invoice. 

Subscription Services 

2.4      All Services that are subscriptions will become binding and start on the date that we receive instructions from you, unless otherwise agreed, and will last for 12 months (or any other period that we have explicitly agreed) even if we have agreed to invoice you at intervals during the term.  We hereby grant to you a non-exclusive, non-transferable right, without the right to grant sub-licences, to allow the designated users (as identified in our invoice) to use the Services during the 12 month period (or any other period that we have explicitly agreed) and to view and download the Data. 

2.5      We may from time to time add a new publication to the subscription. We will not remove a publication without either (at our option) your prior agreement or an adjustment of the fees to reflect the removal. 

Individual presentations/projects 

2.6      All Services that are individual presentations, projects or consultancy will become binding once we have received written confirmation from you that we are to proceed.  We will deliver the presentation or project at a time to be agreed. 

3.      Fees and Payment

3.1        The fees for the Services are as stated in our invoice.  The fees are exclusive of value-added tax, goods and services tax and all other sales taxes (“Taxes”). You shall pay all Taxes due subject to the receipt from us of an appropriate invoice. For the avoidance of doubt, Taxes shall be charged at the applicable rate due at the time of supply as determined by the applicable law relating to such Taxes. 

3.2      We may invoice at any time after we have a binding commitment to proceed as set out in Clauses 2.4 and/or 2.6. 

3.3      Our payment terms are 14 days from the date of invoice. Payment must be made in the currency stated in the invoice. 

3.4      If you do not pay in full in accordance with our payment terms we may (i) charge interest on the amount outstanding from the due date to the date of receipt by us (whether or not after judgement) in accordance with the Late Payment of Commercial Debts (Interest) Act 1998; and/or (ii) suspend delivery of further Services. 

4.      Intellectual Property

4.1      We or our licensors retain all intellectual property rights in the Services. 

4.2      You may not copy, distribute or resell our Services.  In particular, where the Services are subscription Services you may not copy or distribute our Services outside of the designated users in the team/department/location as identified in our invoice. You may not remove any proprietary notices, other notices or disclaimers from the Data.

4.3        We may use your company logo for our marketing purposes, unless you inform us in writing that we may not do so. 

5.     Termination

5.1 Subscription Services

Unless a renewal has been agreed, we will stop proving the Subscription Services at the expiry of subscription period as stated in the invoice (usually 12 months).       

5.2 Individual presentations/projects

These Services will stop once the presentation has been given or the project has been delivered. 

5.3 Other circumstances of termination

We may also terminate the Services (or part of them) in the following circumstances: 

5.3.1    you breach any of these Terms and Conditions including your payment obligations as set out in Clause 3.2 

5.3.2    notwithstanding the provisions of Clause 7 we are prohibited from continuing to provide the Services due to currency and/or trade restrictions, embargo and/or sanctions;  or 

5.3.3    you cease to trade. 

Upon termination or expiry you must pay all outstanding invoices and purge all Data. Termination will not affect any accrued rights or liabilities or the continuation of any term stated or required to survive termination. 

6.   Liability

6.1        Whilst our Services are provided with all reasonable skill and care, they comprise of the subjective views  of our economists. Accordingly you agree: 

6.1.1    where our Services are the provision of a presentation, project or consultancy, you will not resell the substance of the outcome in whole or in part outside of your organisation; 

6.1.2    you have determined to purchase our Services and how to utilise them, both in your professional judgement, and we will have no liability to you for any actions or inaction you may take as a result of receiving our Services; 

6.1.3    our Services, however delivered, do not constitute investment or financial advice nor are they any guarantee or reassurance as to the expected results of any investment product or outcome; 

6.1.4    where our economists offer their views in response to a question posed by you, this is a general view only, not specific advice, and you should seek your own specific advice in relation to the question posed; 

6.1.5    we are not acting as your advisor; and 

6.1.6    we make no warranty that our Services are complete, current or accurate and you should not rely on them as such. 

6.2        We do not warrant: 

6.2.1    that Services accessible via email or through our website are free from computer viruses or other harmful components, defects or errors but we do maintain up to date virus protection on all our systems; 

6.2.2    that any defects in our website will be corrected; 

6.2.3    that access to our website will be uninterrupted reliable or error free; 

6.2.4    that our Services will be free from delays, inaccuracies, failures, errors, omissions or communication failures. 

6.3        Except as provided in these Terms and Conditions, all warranties, conditions and other terms implied by statute or common law are excluded to the fullest extent permitted by law.   

6.4        We will not be liable, whether in tort (including for negligence or breach of statutory duty), contract, misrepresentation or otherwise for any loss of profits, income, business goodwill or similar losses or for any loss of goods, use or loss of or corruption of data or for any special, indirect, or consequential or pure economic loss, costs, damages, charges or expenses. 

6.5        Our total liability in contract, tort (including negligence or breach of statutory duty), misrepresentation, restitution or otherwise, arising in connection with the provision of the Services is limited to the fees paid by you for those Services.   

6.6        The above provisions set out our entire financial liability to you (including any liability for the acts or omissions of our employees, agents and sub-contractors). 

7.  Force Majeure

If we are prevented from or delayed in providing the Services due to circumstances outside of our reasonable control (a Force Majeure Event) we will be excused from providing the Services whilst the Force Majeure Event continues provided that we notify you in writing and use reasonable endeavours to reduce the impact. A Force Majeure Event shall include currency and/or trade restrictions, embargo and sanctions. 

8.  General

8.1        You warrant to us that the supply of Services to you and use by you does not and will not result in us committing a direct or indirect breach of applicable trade sanctions or export control. 

8.2      If a court decides that any provision in these Terms and Conditions is invalid or unenforceable the remaining provisions will remain in full force and effect. 

8.3        Both parties will comply with all applicable laws, rules and regulations including anti-corruption and anti-bribery laws. 

8.4        No term contained in these Terms and Conditions is intended to confer a benefit on or be enforceable by a third party.  We will only provide Services to the company or person stated on an invoice and you may not transfer the benefit of the Services to anyone else. 

8.5        You agrees to abide by any additional terms and conditions that we may impose from time to time in writing as are required by our third-party data suppliers. Such third party data suppliers shall have no liability to you whatsoever.  In addition, you acknowledge that if you opt to use any Microsoft plugins produced by us you  may have to accept Microsoft’s installation terms.

8.6        We may change these Terms and Conditions from time to time.  An up-to-date version will be available on our website at all times at

8.7        These Terms and Conditions and any disputes or claims arising out of them shall be governed by English law. We agreed that the English courts shall have exclusive jurisdiction to hear any such disputes and claims. 

FOR ADVANCE USERS, In addition to the above terms the following terms also apply: 

  1. You are permitted access to the full range of research and analysis content under your subscription.  The search function enables dynamic access to the various research topics and the curated function allows for this content to be tailored by you as represented by our digital services.  We do not make any promise as to the accuracy of the search function nor that the curated content will be suitable for, or of interest, to you.   
  2. You are also granted access to the full suite of data and charting platform services including the ability to create custom dashboards.  Whilst dashboards can be created, we cannot guarantee the availability of this function at all times nor the availability of data to create a dashboard. 
  3. You will be able to meet with our economists in regular meetings, the number of which we can from time to time adjust depending on the frequency historically provided.  These meetings may be in person or over suitable video conference facilities.               
  4. Where our economists respond to a question posed by you, this is not specific advice, and you should seek your own specific advice in relation to the question posed, should this be required. 
  5. Access to our economists is subject at all times to “fair use”. Fair use means ensuring that you use this part of the Services only to a reasonable extent bearing in mind the rest of the CE Advance community. We reserve the right to charge additional fees if usage is not fair (in our reasonable opinion). 
  6. For your benefit, our Services may from time to time interact with third party services. You access those third- party services at your own risk and subject to any terms that such third parties may impose. 
  7. Product support is available to you via our team of support engineers.  We cannot guarantee availability within any specific timeframe but will seek to ensure that your requests are dealt with in an appropriate time relating to the issue in question. Use of our Services (and the data and information provided by you in utilising them) is subject at all times to our Privacy Notice found at Terms & Privacy | Capital Economics.  


Updated 24/06/2024