Terms of Business

Exactum Limited – Terms of Business

Last updated: 29th July 2025

These Terms and Conditions ("Terms") govern the provision of property rebuild cost assessment services by Exactum Limited (“we”, “us”, “our”). By engaging our services, you (“Client”, “you”) agree to these Terms.

1. Definitions
  • Services - Property rebuild cost assessments and related consulting we provide.
  • Report - Any written assessment, valuation, or advice delivered by us.
  • Client - The individual or organisation commissioning the Services.
  • Assessment Date - The date the property was inspected or desktop analysis conducted.
2. Services Provided

We provide professional property rebuild cost assessments for insurance, valuation, and compliance purposes, which may include:

  • Desktop or site-based inspections
  • Calculation of estimated rebuild costs
  • Delivery of formal written reports
  • Consultation on rebuild cost methodology

The scope of Services will be confirmed in a written quotation or agreement before commencement.

3. Client Responsibilities
  • Provide accurate property details, site access, and relevant documentation.
  • Ensure safe conditions for our assessor(s).
  • Disclose any unusual construction methods or known risks that may impact the assessment.

Failure to provide adequate information or access may delay or compromise the assessment and may result in additional charges.

4. Fees and Payment Terms
    • Fees are stated in our quotation or order confirmation.
    • Payment is due within 30 days of invoice unless otherwise agreed in writing.
    • Statutory interest may be charged on overdue sums at 8% per annum above the Bank of England base rate, calculated daily and compounded annually, in line with the Late Payment of Commercial Debts (Interest) Act 1998.
    • A fixed debt recovery charge may also apply:
      • £40 for debts up to £999.99
      • £70 for debts £1,000–£9,999.99
      • £100 for debts £10,000 and above.
5. Cancellations and Refunds
  • Cancellations made at least 48 hours before the scheduled assessment may be eligible for a full or partial refund.
  • Cancellations within 48 hours may incur a cancellation fee.
  • No refunds are issued once the Report has been delivered.
6. Accuracy of Assessment
  • Assessments are based on professional judgment and current industry standards.
  • Estimates are provided as guidance only and may differ from actual construction costs or insurer valuations.
  • Reports are not a substitute for a detailed quantity surveyor’s costings or structural engineering report.
7. Confidentiality and Data Protection
  • All client information is treated as confidential and shared only with authorised parties or as required by law.
  • We comply with the UK General Data Protection Regulation (UK GDPR) and the Data Protection Act 2018.
  • For full details, please see our Privacy Policy.
8. Intellectual Property
  • Reports remain our intellectual property until full payment is received.
  • Upon payment, the Client is granted a non-exclusive licence to use the Report for its intended purpose only.
  • Reports may not be resold, republished, or modified without our written consent.
9. Third-Party Reliance
  • Reports are prepared solely for the Client (and their insurer where applicable).
  • No other party may rely on the Report without our prior written consent.
10. Limitation of Liability
  • Our total liability is limited to the amount paid by the Client for the Services.
  • We are not liable for indirect, consequential, or incidental damages.
  • We maintain professional indemnity insurance consistent with UK industry standards.
11. Force Majeure

We are not liable for delays or non-performance caused by events beyond our reasonable control, including natural disasters, pandemics, government actions, or labour disputes.

12. Termination

We may suspend or terminate Services if:

  • The Client fails to provide necessary access or information.
  • Payment is not made as agreed.
  • The Client engages in abusive, threatening, or unprofessional conduct.
13. Dispute Resolution
  • Parties shall first attempt to resolve disputes amicably.
  • If unresolved, disputes shall be referred to mediation or arbitration under UK law before legal proceedings.
14. Governing Law and Jurisdiction

These Terms are governed by the laws of England and Wales and are subject to the exclusive jurisdiction of the courts of England and Wales.

15. Amendments

We may update these Terms periodically. Updates will be posted on our website and apply to future Services. Continued use of our Services indicates acceptance of any revised Terms.

16. Severability

If any provision of these Terms is deemed unenforceable, the remaining provisions will remain valid and enforceable.