Terms of Sale

Terms and Conditions

  1. Definitions

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

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).

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.

  1. Supply of Services

2.1 We will supply Services to you on the basis of our quote, 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.

​​​​​​​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.

​​​​​​​3.1 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.

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

​​​​​​​3.3 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 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.

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 sanctions;  or

5.3.3 you cease to trade.

Upon termination you must pay all outstanding invoices. 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;

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.

      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.

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

8.3 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.

8.4 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 www.capitaleconomics.com.

8.5 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 data and chart platform users  (“Data”), the following additional terms and conditions will apply:

  1. We grant to you a limited, worldwide (unless otherwise stated in an order form) license during the term as set out in the order form to utilise the CE Interactive tool  and to view and download, via available formats, and within monthly limits set by us, the Data for your internal business use only subject to the maximum number of users set out in the order form. You should not provide access details to users outside the maximum permitted number of users.
  2. You may not resell, copy or re-distribute the Data.
  3. Upon termination or expiry of the term relating to the Data you agree to purge all Data except to the extent required or permitted by law.
  4. You agree to abide by any additional terms and conditions we may impose from time to time as are required by our third-party data suppliers.
  5. You will indemnify us upon demand against all losses, claims (including those from third parties and/or our data suppliers) demands and expenses that we may incur as a result of your use of the CE Interactive tool and/or the Data whether arising from your breach of these terms and conditions or otherwise.
  6. Some of the Data is copyright 1999-2020 Thomson Reuters ­­and all rights are reserved. Thomson Reuters means Thomson Reuters (Markets) LLC and its affiliates. Other parts of the Data is copyrighted to us or our suppliers and we and our suppliers reserve all rights in it.
  7. We and our suppliers own and retain all rights, title and interest including, but not limited to, copyright, trademarks, patents, database rights, trade secrets, know-how and all other intellectual property rights or forms of protection of similar nature or having equivalent effect anywhere in the world in the Data. You are not given any proprietary interest in the Data.
  8. The Data constitutes confidential information and trade secrets of us or our suppliers. Display, performance, reproduction, distribution of or creation of derivative works or improvements from the Data in any form or manner is expressly prohibited except to the extent permitted under these terms and conditions or in an order form or otherwise with our express prior written permission.
  9. You may use the Data for internal uses only. You may copy, paste and distribute internally only an insubstantial amount of the Data provided that (i) the distribution is incidental to or supports your business purpose (ii) the Data is not distributed by you in connection with information vending or commercial publishing (in any manner for format whatsoever), not reproduced through the press or mass media or the internet and (iii) where practical clearly identifies the supplier as the source of the Data. Data will be considered an “insubstantial amount” if such amount (i) has no independent commercial value (ii) could not be used by the recipient as a substitute for any product or service (including a download service) provided by us, Thomson Reuters or any of our third- party suppliers.
  10.  Please note depending on the Data you utilise, the terms set forth on  www.thomsonreuters.com/datause may also apply to your use.
  11. You acknowledge that certain elements of the Data may cease or may be made subject to certain conditions by us or our suppliers. Upon termination or expiry of this user license all rights hereunder will immediately terminate and you shall cease to use the Data and delete or destroy all copies in your possession or control.
  12. NEITHER WE NOR ANY THIRD-PARTY SUPPLIER WARRANTS THAT THE PROVISION OF THE CE INTERACTIVE  TOOL OR THE DATA WILL BE UNINTERRUPTED, ERROR FREE, TIMELY, COMPLETE OR ACCURATE NOR DOES ANY PARTY MAKE ANY WARRANTIES AS TO THE RESULTS TO BE OBTAINED FROM THE USE OF THE SAME.  USE OF THE CE INTERACTIVE TOOL AND THE DATA IS AT YOUR SOLE RISK. NEITHER WE NOR ANY THIRD- PARTY SUPPLIER WILL BE IN ANY WAY LIABLE TO YOU OR ANY OTHER ENTITY OR PERSON FOR YOUR INABILITY TO USE THE DATA OR FOR ANY INACCURACIES, OMMISSIONS, ERRORS OR DELAYS, COMPUTER VIRUS OR OTHER INFIRMITIES OR CORRUPTION, DAMAGES, CLAIMS, LIABILITIES OR LOSSES, REGARDLESS OF CAUSE, IN OR ARISING FROM THE USE OF THE DATA. THE DATA IS PROVDIED ON AN “AS IS” BASIS AND WITHOUT WARRANTY OF ANY KIND. NO WARRANTIES, EXPRESS OR IMPLIED, INCLUDING BUT NOT LIMITED TO ANY IMPLIED WARRANTY AS TO SATISFACTORY QUALITY, FITNESS FOR PURPOSE, MERCHANTABILITY, TITLE, INFRINGEMENT OR OTHERWISE IS PROVIDED HEREUNDER. ​​​​​​​
  13. IN NO EVENT WILL WE OR ANY THIRD- PARTY SUPPLIER BE LIABLE FOR ANY DAMAGES INLCUDING, WITHOUT LIMITATION, DIRECT OR INDIRECT, SPECIAL, INCIDENTIAL OR CONSEQUENTIAL DAMAGES, LOSSES OR EXPENSES ARISING IN CONNECTION WITH THE DATA EVEN IF WE OR ANY THIRD-PARTY SUPPLIER OR ANY OF OUR REPSECTIVE REPRESENTATIVES ARE ADVISED OF THE POSSIBLITY OF SUCH DAMAGES, LOSSES OR EXPENSES, FURTHER NETHER WILL WE, OR ANY THIRD-PARTY SUPPLIER BE LIABLE FOR YOUR PRODUCTS OR SERVICES.