These Terms and Conditions set out the basis upon which Global Alternatives Operations Limited (trading as Property Crowd) will offer £50 cash credit(s) to existing members (the “Referring Members”) and new members who are referred to Property Crowd by a Referring Member (the “Referred Members”). Terminology used in these Terms and Conditions shall, where applicable, bear the meaning given to it in the Property Crowd Investor Terms and Conditions.
This offer cannot be used in conjunction with any other Property Crowd offers or promotions. Property Crowd reserves all rights to withhold this offer from any Referring Member or Referred Member to the extent it believes that there is any abuse of these terms or if it believes that the parties are not behaving in a bona fide manner for the purposes of making investments on the Property Crowd website.
For the purposes of these Terms and Conditions, if a Referred Member believes that he/she and an applicable Referring Member is eligible for cash credits hereunder, that Referred Member must enter the referral code (provided to the Referring Member by Property Crowd) when completing their initial registration and not at any time thereafter. If that Referred Member fails to include the referral code at the time of their initial registration and onboarding, the Referred Member and the Referring Member will not be eligible for any applicable cash credit(s).
Subject to clause 5 below, Property Crowd will credit £50 cash to a Referring Member’s Property Crowd Standard Account (non-ISA) for every Qualifying Investment completed by a new Referred Member who becomes a member of Property Crowd on or after 01 June 2019 as a direct result of the introduction and referral by the Referring Member. A “Qualifying Investment” means an investment in an amount of £1000 in bonds made available through the Property Crowd website by no later than midnight on 30 June 2020.
A Referring Member will only be entitled to £50 cash credits for a maximum of three Qualifying Investments completed by the Referred Member.
The £50 cash credit(s) will be made by Property Crowd within 30 days of the Referred Member completing their Qualifying Investment through the Property Crowd website.
At the same time as a £50 cash credit is made by Property Crowd pursuant to clauses 4 – 6 above, Property Crowd will also credit £50 cash to the relevant Referred Member’s Property Crowd Standard Account (non-ISA).
A Referred Member will only be entitled to £50 cash credits for a maximum of three Qualifying Investments which they complete.
For the avoidance of doubt
- Only one Referring Member is entitled to a £50 credit for a referral to a Referred Member. In the event of multiple referrals by Referring Members to the same Referred Member, the Referred Member must confirm to Property Crowd which Referring Member is eligible for the £50 credit in clause 4 above; and
- A Referred Member is only entitled to a single cash credit pursuant to clause 7 above, regardless of whether more than one Referring Member had made a referral.
A Referring Member or a Referred Member does not need to take any active steps in order to claim their £50 cash credit, but the conditions in clause 4 must be met and the Qualifying Investment must be made by the Referred Investor subject to and in compliance with the Property Crowd Investor Terms and Conditions and the Property Crowd ISA Terms and Conditions.
While the investments made by a Referred Investor may be from a Property Crowd ISA Account or Property Crowd Standard Account, any cash credits under this offer will not be eligible for inclusion within the investor’s ISA, although they may transfer it to their Property Crowd ISA Account to the extent that they have an unused ISA allowance for the tax year in question.