Terms & Conditions

1.1

Terms and Abbreviations

1.1.1

“you” and the "Company" refers to the company named above and any other “associated” companies or entities within the meaning defined by current company legislation.

1.1.2

“us” or “we” refers to Envestors Limited, Registration No: 07236828, or any of our subcontracted delivery partners

1.1.3

“date of this agreement” is the date on which the applicant accepted the terms as part of their application to Envestors via its Platform

1.1.4

“GDPR” refers to the General Data Protection Regulation and the Data Protection Act 2018 (DPA 2018).

1.1.5

“Platform” refers to the Envestry™ platform(s) owned by Envestors Limited, including versions of the platform licensed to third parties.

2.1

Business Plan - Provide you access to our digital Business Plan and provide guidance to enable you to complete this comprehensive document to outline the business and financial plan of your business proposition

2.2

AML/KYC - Conduct detailed Anti-Money Laundering (AML), Know Your Customer (KYC), Sanctions and PEP/FATF verification checks on identity, source of any funds, career track record and educational qualifications.

2.3

Start-Up Capital - We will work with you to assess the required start-up capital requirement for your business proposition and seek verification from you that you have or will have access to sufficient capital for a minimum period of three years from company formation.

2.4

Criteria Evaluation - Conduct a detailed evaluation of the proposed business proposition and completed Business Plan, utilising a metric-based Scorecard to assess whether it meets the required Innovator Business Founder threshold of being Innovative, Viable and Scalable and whether the proposition has the potential to achieve a minimum of two of the stated Innovator Business Founder Indefinite Leave to Remain (ILR) Settlement criteria after three years.

2.5

Endorsement Letter - Having conducted our detailed evaluation processes and where you the applicant and the proposition meet our minimum required standards, as evidenced through our metric-based Scorecard, we will issue you with a formal letter of Initial Endorsement, valid for a maximum of three months from the date of issue.

2.6

Strategic Roadmap - Where we issue formal Initial Endorsement, we will provide you with a Strategic Roadmap, fully detailing the expected business milestones and achievements over 36 months, reflecting the detailed Business Plan.

2.7

Scorecard Feedback where unsuccessful - Having conducted our detailed evaluation and where either you as applicant and/or the proposition fails to meet the required endorsement threshold, we will notify you of this outcome and issue you with formal feedback through the provision of the metric-based Scorecard.

2.8

Monthly Business Monitoring & Basic Platform Profile - Where you have been issued with a formal Initial Endorsement letter and have submitted a visa application, you are then required to notify us of the status and outcome of the application. Where you have been successful in securing your Innovator Business Founder Visa, we will then provide access to reporting in our Platform and issue you with a Monthly Business Monitoring Report template which you are required to complete and upload each month to the platform.

2.9

Checkpoint Reviews - At the 12th and 24th month anniversary of your visa award, we will conduct a formal Business Review and require you to complete a Business Review Report detailing progress compared to your Strategic Roadmap objectives. At least one of these two Business Review Meetings will be conducted at your regular place of work. We will also agree with you about any remedial action and future objectives and issue a formal Business Review Report to the Home Office.

2.10

Settlement/Extension Endorsement - At the 36th month anniversary of your visa award we will require you to attend a further Business Review Meeting and to complete a Business Review Report detailing progress compared to your Strategic Roadmap objectives and including achievement of a minimum of two of the Innovator Business Founder ILR settlement criteria. We will additionally require you to provide us with formal evidence of criteria achievement for us to verify. Where we can verify that you have achieved a minimum of two ILR criteria, we will issue you with a formal Endorsement Settlement Letter. Where you have failed to achieve a minimum of two ILR criteria, but in our opinion would be able to achieve a minimum of two criteria if your visa was extended, we will issue you with a formal Endorsement Extension Letter.

3.1

Initial Endorsement Evaluation Process - £1,000 (+ Vat if in UK) - Payable prior to commencing the formal endorsement application and non-refundable if endorsement is unsuccessful.

3.2

12-month Checkpoint Review - £500 (+ Vat) - Payable prior to commencing the Checkpoint Review

3.3

24-month Checkpoint Review - £500 (+ Vat) - Payable prior to commencing the Checkpoint Review

3.4

36-month Settlement or Extension Endorsement - £1,000 (+ Vat) - Payable prior to formal issue of letter

3.5

Total £3,000 (+ Vat)

4.1

The fee for the Endorsement Evaluation is payable in advance of conducting the evaluation and is non-refundable regardless of the outcome of your application.

4.2

Cancellation of Endorsement Application: We retain the authority to cancel or withdraw your endorsement application if you fail to actively participate in the process. Failure to complete the onboarding process, which includes the submission of a digital business plan, within four weeks of receiving an invitation, or significant delays in responding to enquiries related to your application after submitting the business plan, may result in the withdrawal of your application. The endorsement consideration fee paid is non-refundable in such cases.

4.3

The fees for 12th and 24th month Checkpoint Reviews are payable in advance of the specific Checkpoint Review being conducted.

4.4

The fee for 36th month Settlement or Extension endorsement fee is payable prior to formal issue of endorsement

4.5

Fees charged for Added Value Services Packages are payable monthly for a minimum period of 12 months. Note that you are liable for settlement in full of the remaining fees payable in the event that you wish to terminate the Added Value Service Package.

4.6

For any late payment, we reserve the right to charge debt recovery costs and statutory interest at a rate of 8% plus the Bank of England base rate under the Late Payment of Commercial Debts (Interest) Act 1998 for any part or whole month.

5.1

Termination of this Agreement

5.1.1

We reserve the right to terminate this agreement with immediate notice if any fees remain outstanding.

5.1.2

You have the right to terminate this agreement, but in doing so remain liable for the settlement in full of any outstanding fees owing through until the end of this agreement. Termination of this agreement will result in immediate cessation of any visa endorsement and will require us to inform the Home Office of such cessation.

5.2

Confidentiality

5.2.1

In the course of our work we realise it will be necessary for you to inform us of confidential details concerning your business. We will use reasonable endeavours to keep strictly confidential any information relating to the nature of your business that we acquire during the course of our discussions

5.3

Privacy and GDPR

5.3.1

Envestors Limited is registered under the Data Protection Act 1998 (Registration Number PZ8168420) and operates within the General Data Protection Regulation and the Data Protection Act 2018 (DPA 2018).

5.3.2

By signing this agreement, you provide consent for us to hold the data you provide as per our Privacy Policy, see https://envestors.envestry.com/privacy-policy. You have the right and the ability to Unsubscribe and “To Be Forgotten” by logging in to the Platform and controlling your preferences.

5.3.3

You permit us to conduct our required Anti-Money Laundering (AML), Know your Customer (KYC), Politically Exposed Persons (PEP), Financial Action Task Force (FATF), credit search, career/job reference, higher education and governmental Sanctions checks of your identity and to verify your fitness for purpose in relation to the Innovator Business Founder Visa category.

5.3.4

You permit us to confidentially share your data with the UKVI/Home Office in respect of your visa application and visa leave.

5.3.5

Aside from the occasions mentioned above we will not share, copy or distribute any personal contact details with any third party without your prior consent.

5.4

Further work

5.4.1

Additional advisory services are excluded from this agreement and subject to additional costs and terms.

5.5

Placement Service

5.5.1

Non-Exec and Advisors. Where we introduce you to a Chairman, Director, Consultant, Advisor, Senior Executive or any other appointment (whether executive or non-executive), who you decide to employ directly or appoint to your company or any associated company, we charge a one-off placement Finders' Fee of £9,500 plus VAT, payable 30 days after the individual has been employed or appointed. The following rebates apply if the individual leaves: 100% within three months and 50% from three to six months

5.5.2

Investing Execs. Where we introduce a successful Placement who also invests into the business, or where an introduced Investor invests and is subsequently appointed to the Board in an executive or non-executive position, we will charge only the greater sum of either the £9,500 Finders' Fee or the 6% investment success fee

5.5.3

Interims. Where we introduce an Interim Executive, Advisor, Consultant or Mentor we will charge 25% of any fees earned, subject to a minimum fee of £1,500 and to a maximum fee of £9,500

5.6

Disclaimer

5.6.1

In making recommendations, we will have relied upon information disclosed by the management and staff of your business. Accordingly, we cannot be held liable for recommendations and opinions based on that information where it is inaccurate or incomplete.

5.6.2

We shall not be liable for any damages or liabilities, arising from errors in our negotiations with you or with third parties. In no circumstances shall we be liable for any indirect or consequential loss and/or loss of profit for whatever reason. In particular, we are not responsible for due diligence nor the preparation of legal documents nor for your negotiations with third party sources of funding and do not approve terms. We also make no representation that we will be successful in introducing funding. All fees are non-refundable.

5.6.3

Nothing in this engagement shall limit our liability for fraud or any other matter which cannot by law be limited without rendering this agreement void or voidable.

5.7

Miscellaneous

5.7.1

This agreement is subject to the laws of England and Wales and the exclusive jurisdiction of the English Courts

5.7.2

This agreement is not capable of being assigned by you without our written consent.