Terms of Service
Rules for using Wectory's rent factoring service, including acceptable use, payment terms, liability limits, and regional provisions for UK.
Updated 10 Jan 2026
Wectory Terms of Service
Effective Date: 1 January 2026
1. Introduction and Scope
1.1 Parties and Agreement
These Terms of Service ("Terms") constitute a legally binding agreement between Wectory Ltd, a company registered in England and Wales with company number 12790239 and registered office at 86-90 Paul Street, London, Greater London, England, EC2A 4NE, United Kingdom ("Wectory," "we," "us," or "our"), and the business entity accessing or using our platform ("Partner," "you," or "your"). By accessing or using Wectory, you confirm that you have read, understood, and agree to be bound by these Terms. If you do not agree to these Terms, you must not access or use the Service.
1.2 Nature of Service
Wectory operates a business-to-business software platform that provides technology infrastructure enabling property management companies, letting agents, and similar entities to offer rent advance products to their landlord customers. Partners utilise their own capital to fund advances to landlords; Wectory provides the technological infrastructure including risk scoring, payment collection, compliance documentation, and operational tools. These Terms govern your access to and use of this platform.
1.3 Business Users Only
The Service is designed exclusively for business users. Wectory does not contract with, or provide services directly to, individual landlords or other consumers. If you are an individual landlord seeking a rent advance, you should contact one of our approved Partners directly. By agreeing to these Terms, you represent and warrant that you are acting in a business capacity and not as a consumer.
1.4 Entire Agreement
These Terms, together with the Data Processing Agreement set out in Schedule 1, the Acceptable Use Policy set out in Schedule 2, and our Privacy Policy available at wectory.com/legal/pp, constitute the entire agreement between you and Wectory in relation to the Service and supersede all prior agreements, representations, warranties, and understandings between the parties.
2. Important Notices and Acknowledgements
2.1 Platform Provider Status
Wectory is a technology platform provider and not a financial services provider. Wectory does not provide advances, loans, credit, or funding of any kind directly to landlords or any other party. Wectory does not hold, manage, control, or disburse Partner capital at any point in the advance lifecycle. All advances to landlords are funded exclusively from Partner's own capital resources, and Partners bear all credit risk associated with advances they choose to fund. Wectory's role is limited to providing technology infrastructure and operational services that facilitate Partner's own factoring activities.
2.2 Regulatory Position
Factoring and invoice finance services in the United Kingdom are not regulated activities requiring authorisation from the Financial Conduct Authority. Wectory operates as a technology platform provider enabling Partners to conduct their own factoring activities. Partners remain solely responsible for ensuring their own regulatory compliance in all jurisdictions in which they operate, including but not limited to compliance with anti-money laundering legislation, data protection requirements, and any sector-specific regulations applicable to their business activities.
2.3 No Financial Advice
Nothing in the Service or these Terms constitutes financial, investment, legal, tax, or regulatory advice. The outputs of our scoring engine represent risk assessment recommendations based on algorithmic analysis of available data; they are not guarantees of creditworthiness or predictions of future payment behaviour. Partners must make their own independent funding decisions based on their own due diligence and professional advice. Historical performance data and scoring accuracy metrics do not guarantee future results, and Partners should not rely on such data as the sole basis for funding decisions.
2.4 Capital Risk Acknowledgement
By using the Service, Partners expressly acknowledge and accept that all advances to landlords are funded from Partner's own capital and at Partner's own risk. The risk of landlord default is borne entirely by the Partner, and Wectory has no liability whatsoever for losses arising from landlord defaults, failed collections, or any other circumstance resulting in non-recovery of advanced funds. Wectory's collection services are provided on a best-efforts basis, and Wectory does not guarantee successful collection of any payment. Partners are solely responsible for maintaining adequate capital reserves to support their advance portfolio and to absorb potential losses from defaults.
3. The Service
3.1 Service Description
Wectory provides a business-to-business software-as-a-service platform comprising the following integrated components. The Partner Portal is a web-based dashboard enabling Partners to manage landlord applications, track advance lifecycle stages, monitor portfolio performance, generate reports, and administer team access permissions. The Scoring Engine is an artificial intelligence-powered risk assessment system that analyses landlord, property, and tenancy data to generate risk recommendations. The Collection Hub provides automated Direct Debit collection infrastructure through our integration with GoCardless, including mandate creation, payment scheduling, failed payment handling, and settlement processing. The Document Engine generates factoring agreements and related documentation with Partner white-label branding and electronic signature integration. The API and Integration Layer provides programmatic access to platform functionality through REST APIs, webhooks, and pre-built integrations with major UK property management systems.
3.2 Service Limitations
The Service is limited to providing technology infrastructure and does not extend to the provision of capital, loans, credit, or funding of any kind. Wectory does not act as a lender, bank, credit provider, or financial institution. Wectory does not hold, manage, or control Partner or landlord funds at any stage. The scoring engine provides recommendations only and does not guarantee the creditworthiness of any landlord or the performance of any advance. Collection services do not guarantee successful recovery of any payment. Wectory does not provide legal, tax, financial, investment, or regulatory advice. Wectory does not act as a debt collection agency for accounts that have progressed beyond standard collection processes. Wectory does not provide any consumer-facing financial services.
3.3 Service Availability
Wectory targets platform availability of 99.5% measured on a monthly basis, excluding scheduled maintenance periods. However, Wectory does not guarantee uninterrupted availability of the Service. The Service may be unavailable from time to time due to scheduled maintenance for which reasonable advance notice will be provided, unscheduled maintenance required to address security vulnerabilities or critical issues, technical failures affecting Wectory's infrastructure or systems, disruptions to third-party services on which the platform depends including payment processors and cloud infrastructure providers, force majeure events as described in Section 17.7, or actions required by law, regulation, or competent authority. Wectory will use reasonable efforts to notify Partners of planned downtime in advance and to restore service promptly following unplanned outages, but accepts no liability for any losses arising from service unavailability.
4. Eligibility and Onboarding
4.1 Eligibility Requirements
To become a Wectory Partner, you must satisfy the following eligibility criteria. You must be a business entity registered in the United Kingdom, whether as a limited company, limited liability partnership, or registered partnership. You must be actively engaged in property management, residential lettings, or related property services. You must have established relationships with landlords and an active portfolio of managed properties. You must have access to adequate capital resources to fund advances, which capital shall not be provided by Wectory. You must maintain appropriate insurance coverage for your business activities as described in Section 4.6. You must successfully complete Wectory's Partner due diligence process as described in Section 4.2.
4.2 Due Diligence Process
Before Partner accounts are activated, prospective Partners must complete Wectory's onboarding and due diligence process. This process includes verification of company registration and corporate status through Companies House records, identification and verification of company directors, verification of business operations and property management activity, anti-money laundering and know-your-customer checks conducted in accordance with applicable legislation, confirmation of capital availability and source of funding, and review and acceptance of these Terms and any additional Partner documentation. Wectory reserves the right to decline any Partner application at its absolute discretion without providing reasons for such decision.
4.3 Account Registration
Partners must provide accurate, current, and complete information during the registration process and must maintain and update such information as business circumstances change. Partners must keep login credentials secure and confidential and must implement appropriate access controls for team members who are granted access to the Portal. Partners must notify Wectory immediately upon becoming aware of any unauthorised access to their account or any security breach affecting their credentials. Partners accept full responsibility for all activity conducted through their account, whether or not such activity was authorised by the Partner.
4.4 Authorised Users
Partners may grant access to the Portal to authorised employees and representatives ("Users"). Partners are responsible for ensuring that all Users comply with these Terms and for any acts or omissions of Users as if they were acts or omissions of the Partner itself. Partners must manage User permissions in accordance with the principle of least privilege and must revoke User access promptly when individuals leave the Partner's organisation or no longer require access.
4.5 Ongoing Compliance
Partners must notify Wectory promptly of any material changes to their business circumstances, including changes to company registration details or corporate structure, changes to directors or persons with significant control, any regulatory investigation, enforcement action, or material litigation, any actual or suspected breach of anti-money laundering obligations, any insolvency event or material financial difficulty, or any other circumstance that may affect Partner's ability to comply with these Terms.
4.6 Insurance Requirements
Partners must maintain in force throughout the Term appropriate insurance coverage for their business activities, including professional indemnity insurance with coverage adequate for the nature and scale of their advance portfolio, public liability insurance, and such other insurance as may be appropriate for their business activities. Wectory may request evidence of insurance coverage from time to time, and Partners must provide such evidence within fourteen days of any such request.
5. Partner Obligations
5.1 Funding Obligations
Partners acknowledge and agree that all advances to landlords must be funded exclusively from Partner's own capital resources and that Wectory never provides, holds, or manages advance capital. Partners must transfer funds directly to landlords in accordance with the terms of the relevant factoring agreement. Partners must confirm completion of payout through the Portal within twenty-four hours of making payment to the landlord. Partners must upload proof of payment, being either a bank transfer confirmation or bank statement showing the outgoing payment, to the Portal as part of the payout confirmation process. Failure to confirm payout and provide proof of payment may result in delays to the commencement of collection services.
5.2 Data Accuracy Obligations
Partners must ensure that all landlord, property, and tenancy data submitted to Wectory is accurate, complete, and current at the time of submission. Partners must maintain appropriate processes to verify data accuracy before submission and must update data promptly when changes occur. Partners must not submit data that is false, misleading, fabricated, or which relates to landlords, properties, or tenancies that do not exist. Wectory relies on the accuracy of Partner-submitted data for scoring and other platform functions, and Partners accept that inaccurate data may result in unreliable scoring outputs and other adverse consequences for which Wectory shall have no liability.
5.3 Legal and Regulatory Compliance
Partners are solely responsible for ensuring that their use of the Service and their advance products comply with all applicable laws, regulations, and industry codes in all jurisdictions in which they operate. This includes, without limitation, compliance with anti-money laundering legislation including the Proceeds of Crime Act 2002 and the Money Laundering Regulations 2017, data protection legislation including the UK General Data Protection Regulation and the Data Protection Act 2018, consumer protection legislation to the extent applicable to Partner's activities, financial services legislation to the extent applicable to Partner's activities, and any industry codes or standards applicable to property management or lettings businesses. Wectory is not responsible for advising Partners on their compliance obligations, and Partners should seek appropriate professional advice.
5.4 Landlord Relationships
Partners are solely responsible for all aspects of their relationships with landlords, including all communications with landlords regarding advances and repayments, ensuring that landlords understand the terms and conditions of factoring arrangements before entering into them, handling landlord complaints and disputes, and providing landlords with accurate information about repayment obligations and consequences of default. Wectory has no direct relationship with landlords and shall not be responsible for any communications with landlords except as necessary to facilitate collection of payments.
5.5 Tax Obligations
Partners are solely responsible for all tax obligations arising from their advance activities, including proper treatment of factoring fees as income or expense for corporation tax purposes, compliance with value added tax requirements including registration, charging, and reporting, and any other tax obligations arising in connection with Partner's business. Wectory does not provide tax advice, and Partners should consult their own tax advisers regarding the tax treatment of factoring activities.
6. Prohibited Conduct
6.1 General Prohibitions
Partners must not use the Service for any purpose that is unlawful, fraudulent, or harmful, or in any manner that violates these Terms. Without limiting the generality of the foregoing, Partners must not submit to the Service any data that is false, fabricated, misleading, or relates to landlords, properties, or tenancies that do not exist. Partners must not use the Service to facilitate money laundering, terrorist financing, fraud, or any other criminal activity. Partners must not attempt to circumvent anti-money laundering or know-your-customer requirements. Partners must not engage in any conduct that is deceptive, unfair, or harmful to landlords or other third parties.
6.2 Commercial Practice Prohibitions
Partners must not use the Service to charge landlords interest rates or fees that would cause the advance product to constitute regulated credit under the Consumer Credit Act 1974 or other applicable legislation. Partners must not structure advances in ways designed to circumvent consumer protection laws or financial services regulations. Partners must not engage in predatory, exploitative, or unconscionable commercial practices. Partners must not discriminate against landlords on any grounds prohibited by the Equality Act 2010 or other applicable anti-discrimination legislation.
6.3 Technical Prohibitions
Partners must not interfere with or disrupt the Service or the servers, networks, or infrastructure on which the Service operates. Partners must not attempt to gain unauthorised access to the Service, other Partner accounts, or any systems or data not intended for Partner access. Partners must not reverse engineer, decompile, disassemble, or otherwise attempt to derive the source code of any software component of the Service. Partners must not use automated tools, scripts, or bots to access or interact with the Service except through approved APIs and in compliance with applicable rate limits. Partners must not attempt to circumvent usage limits, security measures, access controls, or any other protective mechanisms.
6.4 Data Prohibitions
Partners must not access, use, or disclose landlord data for any purpose other than the purposes for which such data was collected and for which appropriate legal basis exists. Partners must not sell, transfer, or otherwise make available landlord data to any third party without appropriate legal basis and, where required, explicit landlord consent. Partners must not retain landlord data beyond the periods for which retention is necessary and lawful. Partners must not process special category personal data without appropriate lawful basis under Article 9 of the UK GDPR.
6.5 Consequences of Prohibited Conduct
Any violation of the prohibitions set out in this Section 6 may result in immediate suspension of Partner's access to the Service pending investigation, termination of these Terms and the Partner relationship, reporting of suspected criminal activity to relevant law enforcement authorities, reporting of suspected regulatory breaches to relevant regulatory authorities, and legal action to recover damages and obtain injunctive relief. The rights and remedies set out in this Section 6.5 are cumulative and without prejudice to any other rights and remedies available to Wectory at law or in equity.
7. Scoring Engine
7.1 Service Description
The Scoring Engine is an artificial intelligence-powered risk assessment system that analyses landlord, property, and tenancy data to generate risk recommendations. The system considers multiple factors including landlord rental payment history, property characteristics, location, and condition indicators, tenancy agreement terms and remaining duration, tenant stability and payment profile indicators, and aggregated portfolio performance data. Based on this analysis, the system categorises each landlord as Green indicating a data profile within acceptable risk parameters, Yellow indicating that additional data or verification is required before a recommendation can be made, or Red indicating that the data profile falls outside acceptable risk parameters.
7.2 Scoring Limitations and Disclaimers
Partners expressly acknowledge and agree that scoring outputs are recommendations only and do not constitute guarantees of creditworthiness, predictions of future payment behaviour, or advice on whether to fund any particular advance. Partners must make their own independent funding decisions based on their own due diligence, risk appetite, and professional advice, and must not rely solely on scoring outputs when making such decisions. The accuracy of scoring outputs depends on the quality, completeness, and accuracy of input data, and Wectory does not warrant the accuracy of scoring outputs where input data is incomplete, inaccurate, or out of date. Historical scoring accuracy metrics do not guarantee future performance, and Partners should not rely on such metrics as a basis for funding decisions. Wectory may update, modify, or retrain scoring models at any time without notice, and such changes may affect scoring outputs for equivalent input data. Wectory expressly disclaims all liability for any losses, damages, or other adverse consequences arising from funding decisions made by Partners, whether or not such decisions were informed by scoring outputs.
7.3 Artificial Intelligence Disclosure
The Scoring Engine utilises artificial intelligence and machine learning technologies. Partners acknowledge that such technologies have inherent limitations and may produce unexpected, inconsistent, or incorrect outputs. AI systems may exhibit bias based on characteristics of training data, and may perform differently across different data profiles or scenarios. Partners should review all scoring outputs critically and apply appropriate human judgment rather than treating AI-generated recommendations as determinative.
8. Collection Services
8.1 Service Description
Wectory provides automated payment collection services through integration with GoCardless, an authorised payment institution regulated by the Financial Conduct Authority under the Payment Services Regulations 2017. Collection services encompass the creation and submission of Direct Debit mandates through the Bacs Direct Debit scheme, scheduling of payment collections in accordance with agreed repayment terms, processing of successful collections and notification of collection outcomes, handling of failed collections including automated retry sequences, and settlement of collected funds to Partner-designated bank accounts.
8.2 Collection Process
The collection process operates as follows. During the landlord onboarding process, landlords complete a Direct Debit mandate authorising the collection of repayments. Mandates are submitted electronically to Bacs via GoCardless, and mandate activation typically occurs within three to five business days of submission. Collections are initiated three working days before the scheduled payment due date. Successful collections are confirmed within two business days of the due date, and collected funds are settled to Partner accounts within two to three business days of successful collection. Where a collection fails, the system initiates an automated retry sequence comprising a first retry three working days after the initial failure and a second retry seven working days after the first retry. Partners are notified of all collection events through the Portal and, where configured, via webhook notifications.
8.3 Collection Limitations and Disclaimers
Partners expressly acknowledge and agree that collection services are provided on a best-efforts basis and that Wectory does not guarantee successful collection of any payment. Collections may fail for numerous reasons outside Wectory's control, including insufficient funds in landlord bank accounts, cancelled, expired, or otherwise invalid mandates, bank processing errors or delays, landlord disputes with their bank, and exercise of rights under the Direct Debit Guarantee. The Direct Debit Guarantee entitles payers to immediate refunds from their bank in certain circumstances, and such refunds may be made without reference to Wectory or Partner. Collection success rates may vary based on landlord circumstances and broader economic conditions. Wectory expressly disclaims all liability for losses arising from failed collections, regardless of the cause of such failure.
8.4 Defaults and Arrears
For landlords who persistently fail to make scheduled payments, Wectory will continue to operate standard retry sequences as described in Section 8.2. Partners are responsible for direct communication with landlords regarding payment difficulties and arrears. Partners may, at their own discretion and expense, engage third-party debt collection agencies or take legal action to recover outstanding amounts. Wectory does not provide debt recovery services, litigation support, or enforcement services beyond the standard collection processes described in this Section 8. Deals with arrears exceeding ninety days may be classified as Defaulted in the Portal, at which point automated collection attempts may cease.
8.5 Third-Party Terms
Collection services are subject to the terms of service of GoCardless and the rules of the Bacs Direct Debit scheme. Partners acknowledge that operational requirements and processing timescales may be affected by GoCardless terms and Bacs scheme rules, and that Wectory's ability to provide collection services is dependent on continued availability of GoCardless services and continued participation in the Bacs scheme.
9. Fees and Payment
9.1 Platform Fee
Wectory charges a platform fee of two and a half percent (2.5%) of the amount of each payment successfully collected from landlords (the "Platform Fee"). The Platform Fee is the sole fee charged by Wectory for use of the Service, and there are no setup fees, monthly subscription fees, minimum volume commitments, or per-transaction charges beyond the Platform Fee.
9.2 Fee Calculation and Deduction
The Platform Fee is calculated on each successful collection and is deducted from the collected amount before settlement to Partner. For example, where a monthly collection of one thousand pounds is successful, the Platform Fee of twenty-five pounds is deducted and the net amount of nine hundred and seventy-five pounds is settled to Partner. No Platform Fee is charged in respect of collections that fail or that are subsequently charged back or refunded.
9.3 Invoicing and Reconciliation
Wectory provides monthly reconciliation statements through the Portal detailing all collections processed during the relevant month, Platform Fees deducted, and net amounts settled. Value added tax is charged on Platform Fees where applicable and is itemised separately in reconciliation statements. Partners receive monthly invoices for their records, reflecting Platform Fees charged during the relevant period.
9.4 Fee Changes
Wectory may change the Platform Fee from time to time by providing Partners with not less than sixty days' advance written notice of the change. Fee changes will apply to advances created after the effective date of the change; existing advances will continue to be charged at the fee rate in effect at the time the advance was created for the duration of that advance.
9.5 Taxes
All fees stated in these Terms are exclusive of value added tax, which will be added at the applicable rate where required by law. Partners are responsible for all taxes arising from their own business activities, including taxes on income from advance fees charged to landlords.
9.6 No Refunds
Platform Fees are non-refundable once collected, except where a collection was made in error due to a fault in Wectory's systems for which Wectory accepts responsibility, or where a refund is required by applicable law. Platform Fees are not refunded where a landlord subsequently defaults on later payments, where a collected payment is later charged back under the Direct Debit Guarantee, or in any other circumstance not constituting Wectory system fault.
10. Data Protection
10.1 Data Protection Roles
For the purposes of UK data protection legislation, the parties' roles are as follows. In respect of Partner account data, usage data, and platform operational data, Wectory is the data controller and processes such data in accordance with its Privacy Policy. In respect of landlord personal data processed through the Service, Partner is the data controller and Wectory is the data processor, processing such data on Partner's behalf and in accordance with Partner's instructions as documented in these Terms and the Data Processing Agreement set out in Schedule 1.
10.2 Partner Controller Obligations
As data controller for landlord personal data, Partner is responsible for ensuring that a lawful basis exists for all processing of landlord personal data, whether by Partner directly or by Wectory as processor. Partner must provide appropriate privacy notices to landlords explaining how their personal data will be processed. Partner must obtain explicit consent from landlords where consent is the relevant lawful basis for processing. Partner must respond to data subject access requests and other exercises of data subject rights within the timescales required by applicable legislation. Partner must report personal data breaches to the Information Commissioner's Office where required by applicable legislation. Partner must ensure the accuracy of landlord personal data provided to Wectory and must implement appropriate data retention policies.
10.3 Wectory Processor Obligations
As data processor for landlord personal data, Wectory will process such data only on Partner's documented instructions as set out in these Terms and the Data Processing Agreement. Wectory will implement appropriate technical and organisational measures to protect landlord personal data against unauthorised or unlawful processing and against accidental loss, destruction, or damage. Wectory will assist Partner in responding to data subject requests and in meeting Partner's other obligations under data protection legislation. Wectory will notify Partner without undue delay upon becoming aware of any personal data breach affecting landlord data. Further details of Wectory's processor obligations are set out in the Data Processing Agreement at Schedule 1.
10.4 Sub-Processors
Wectory engages sub-processors to assist in providing the Service. The categories of sub-processors engaged include cloud infrastructure providers for data hosting and processing, payment processing providers for Direct Debit collection, document service providers for agreement generation and electronic signature, communication service providers for email notifications, and analytics providers for platform performance monitoring. A current list of sub-processors is maintained at wectory.com/legal/sub-processors. Wectory will notify Partners of any intended changes to sub-processors not less than thirty days before engaging any new sub-processor, and Partners may object to such changes in accordance with the procedure set out in the Data Processing Agreement.
10.5 International Transfers
Landlord personal data is primarily processed within the United Kingdom and the European Economic Area. Where transfers of personal data to countries outside the United Kingdom and EEA are necessary for the provision of the Service, Wectory ensures that appropriate safeguards are in place, including the use of Standard Contractual Clauses approved by the European Commission, the UK International Data Transfer Agreement or Addendum as applicable, and such supplementary measures as may be required to ensure an adequate level of protection.
10.6 Data Retention
Wectory retains landlord and deal data while the relevant advance remains outstanding and for seven years following completion or default, as required for tax and regulatory compliance purposes. Partner account data is retained for seven years following account closure. Platform operational logs are retained for two years. Upon expiry of the relevant retention period, data is securely deleted or anonymised in accordance with Wectory's data retention procedures.
10.7 Security Measures
Wectory implements technical and organisational security measures appropriate to the risks presented by processing, including encryption of personal data at rest using AES-256 encryption, encryption of personal data in transit using TLS 1.3, multi-factor authentication for Portal access, role-based access controls limiting access to personal data to authorised personnel, regular security assessments including penetration testing, and incident response procedures for security events. Wectory is working towards SOC 2 Type II certification and ISO 27001 certification.
11. Intellectual Property
11.1 Wectory Intellectual Property
Wectory owns all intellectual property rights in and to the Service, including the platform software and underlying technology, the Wectory name, trademarks, logos, and branding, scoring models, algorithms, and methodologies, documentation, user interfaces, and content, and APIs, SDKs, and integration tools. Nothing in these Terms transfers any intellectual property rights to Partner, and Partner acquires no rights in Wectory intellectual property other than the limited licence granted in Section 11.2.
11.2 Licence Grant
Subject to Partner's compliance with these Terms, Wectory grants Partner a limited, non-exclusive, non-transferable, non-sublicensable licence to access and use the Service during the Term solely for Partner's internal business purposes in connection with Partner's advance activities. This licence does not permit Partner to copy, modify, adapt, or create derivative works of any component of the Service, to reverse engineer, decompile, disassemble, or otherwise attempt to derive source code, to sublicense, resell, or make the Service available to third parties, to remove or alter any proprietary notices or labels, or to use Wectory trademarks or branding except as expressly authorised.
11.3 Partner Content
Partner retains all intellectual property rights in content that Partner provides to Wectory, including landlord and property data, Partner branding and materials uploaded for white-labelling purposes, and custom configurations and settings. Partner grants Wectory a non-exclusive, royalty-free licence to use Partner content as necessary to provide the Service, including processing data through the Scoring Engine, generating documents with Partner branding, storing and transmitting data as required for platform operations, and creating anonymised and aggregated data for service improvement purposes.
11.4 Feedback
If Partner provides Wectory with feedback, suggestions, ideas, or recommendations regarding the Service, Partner grants Wectory an unrestricted, perpetual, irrevocable, worldwide, royalty-free licence to use such feedback for any purpose without compensation or attribution to Partner. Provision of feedback does not create any confidentiality obligation on Wectory's part.
12. Confidentiality
12.1 Confidential Information
"Confidential Information" means all non-public information disclosed by one party (the "Disclosing Party") to the other party (the "Receiving Party") in connection with these Terms, whether disclosed orally, in writing, or by other means, and whether or not marked as confidential. Confidential Information includes business plans, strategies, and financial information, technical specifications, documentation, and know-how, pricing, commercial terms, and customer information, and any other information that a reasonable person would understand to be confidential given the nature of the information and circumstances of disclosure.
12.2 Confidentiality Obligations
The Receiving Party agrees to use Confidential Information only for the purposes of performing its obligations or exercising its rights under these Terms, to protect Confidential Information using at least the same degree of care it uses to protect its own confidential information of similar nature, but in no event less than reasonable care, to limit disclosure of Confidential Information to those employees, contractors, and advisers who have a need to know and who are bound by confidentiality obligations at least as protective as those in these Terms, and not to disclose Confidential Information to any third party except as expressly permitted by these Terms or with the Disclosing Party's prior written consent.
12.3 Exceptions
The obligations in Section 12.2 do not apply to information that is or becomes publicly available through no fault of the Receiving Party, was known to the Receiving Party prior to disclosure by the Disclosing Party as evidenced by written records, is independently developed by the Receiving Party without use of or reference to the Disclosing Party's Confidential Information, or is rightfully received by the Receiving Party from a third party without restriction on disclosure.
12.4 Required Disclosures
The Receiving Party may disclose Confidential Information to the extent required by law, regulation, or order of a court or governmental authority, provided that the Receiving Party gives the Disclosing Party prompt written notice of such requirement where legally permitted to do so, cooperates with the Disclosing Party's reasonable efforts to obtain protective treatment for the information, and discloses only the minimum amount of information necessary to comply with the requirement.
12.5 Duration
Confidentiality obligations under this Section 12 survive termination of these Terms and continue for a period of three years following termination, except that obligations in respect of trade secrets continue indefinitely for so long as the relevant information remains a trade secret.
13. Disclaimers
13.1 Service Provided "As Is"
To the maximum extent permitted by applicable law, the Service is provided on an "as is" and "as available" basis without warranties of any kind, whether express, implied, statutory, or otherwise. Wectory specifically disclaims all implied warranties, including warranties of merchantability, fitness for a particular purpose, non-infringement, and any warranties arising from course of dealing or usage of trade.
13.2 No Warranty of Results
Without limiting the generality of Section 13.1, Wectory does not warrant or guarantee that the Service will meet Partner's specific requirements or expectations, that the Service will be uninterrupted, timely, secure, or error-free, that the results obtained from use of the Service will be accurate, reliable, or complete, that any errors or defects in the Service will be corrected, or that the Service will be compatible with any particular hardware, software, or network environment.
13.3 Scoring Disclaimer
The Scoring Engine provides risk assessment recommendations based on algorithmic analysis of available data. Wectory does not warrant or guarantee the accuracy, reliability, or completeness of any scoring output. Scoring outputs do not constitute guarantees of landlord creditworthiness, predictions of future payment behaviour, or recommendations to fund any particular advance. Partners must make their own independent funding decisions and must not rely solely on scoring outputs when making such decisions. Wectory expressly disclaims all liability for funding decisions made by Partners, whether or not informed by scoring outputs.
13.4 Collection Disclaimer
Collection services are provided on a best-efforts basis. Wectory does not warrant or guarantee successful collection of any payment. Collections may fail for reasons outside Wectory's control, including insufficient funds, mandate issues, bank errors, landlord disputes, and exercise of rights under the Direct Debit Guarantee. Wectory expressly disclaims all liability for failed collections and for any losses arising from non-recovery of advanced funds.
13.5 Third-Party Services
The Service integrates with and depends upon third-party services, including cloud infrastructure, payment processing, and property management system integrations. Wectory does not warrant or guarantee the availability, performance, accuracy, or reliability of any third-party service, and disclaims all liability for any failure, interruption, or degradation of third-party services.
13.6 Statutory Rights
Nothing in these Terms excludes or limits any warranty or other right that cannot be excluded or limited under applicable law. To the extent that any statutory warranty or right cannot be excluded, such warranty or right is limited to the maximum extent permitted by applicable law.
14. Limitation of Liability
14.1 Exclusion of Certain Losses
To the maximum extent permitted by applicable law, neither Wectory nor any of its affiliates, officers, directors, employees, agents, licensors, or service providers shall be liable to Partner for any indirect, incidental, special, consequential, punitive, or exemplary damages, loss of profits, revenue, business, goodwill, or anticipated savings, loss of or corruption to data, cost of procurement of substitute goods or services, or any losses arising from landlord defaults, failed collections, or non-recovery of advanced funds, in each case whether arising in contract, tort (including negligence), strict liability, or otherwise, and regardless of whether Wectory was advised of the possibility of such damages.
14.2 Liability Cap
Subject to Sections 14.1 and 14.4, Wectory's total aggregate liability to Partner for all claims arising out of or in connection with these Terms, whether in contract, tort (including negligence), strict liability, or otherwise, shall not exceed the greater of the total Platform Fees paid by Partner to Wectory in the twelve months immediately preceding the event giving rise to the claim, or ten thousand pounds sterling (£10,000).
14.3 Basis of the Bargain
Partner acknowledges that the limitations and exclusions set out in this Section 14 reflect a fair and reasonable allocation of risk between the parties and form an essential basis of the bargain between the parties. Wectory would not have entered into these Terms or provided the Service without these limitations and exclusions, and Partner agrees that these limitations shall apply even if any limited remedy fails of its essential purpose.
14.4 Exceptions
Nothing in these Terms excludes or limits liability for death or personal injury caused by negligence, fraud or fraudulent misrepresentation, wilful misconduct or gross negligence, breach of obligations under data protection legislation where such breach causes demonstrable harm to affected data subjects, or any other liability that cannot be excluded or limited under applicable law.
14.5 Multiple Claims
The limitations set out in this Section 14 apply to the aggregate of all claims arising under or in connection with these Terms, and the existence of multiple claims does not increase the limits on Wectory's liability.
15. Indemnification
15.1 Partner Indemnity
Partner agrees to indemnify, defend, and hold harmless Wectory and its affiliates, officers, directors, employees, agents, and licensors from and against any and all claims, demands, actions, proceedings, liabilities, damages, losses, costs, and expenses (including reasonable legal fees and disbursements) arising out of or in connection with Partner's breach of any provision of these Terms, Partner's violation of any applicable law, regulation, or third-party right, Partner's funding decisions and advance practices, regardless of whether informed by Wectory scoring outputs, claims by landlords or other third parties relating to Partner's conduct or Partner's advance products, inaccurate, misleading, or fraudulent data submitted by Partner to the Service, Partner's failure to obtain required consents or to comply with data protection obligations, Partner's misuse of the Service or conduct of prohibited activities, and any tax liabilities or claims arising from Partner's business activities.
15.2 Indemnification Procedure
Wectory will give Partner prompt written notice of any claim for which indemnification is sought, provided that failure to give such notice will not relieve Partner of its indemnification obligations except to the extent that Partner is materially prejudiced by such failure. Partner will have the right to assume control of the defence and settlement of any claim for which indemnification is sought, provided that Partner may not settle any claim in a manner that admits liability on Wectory's behalf, imposes obligations on Wectory, or does not fully release Wectory from liability, without Wectory's prior written consent. Wectory will provide reasonable cooperation in the defence of any claim at Partner's expense, and may participate in the defence with counsel of its own choosing at its own expense.
16. Term and Termination
16.1 Term
These Terms commence on the date that Partner's account is activated and continue in force until terminated by either party in accordance with this Section 16 (the "Term").
16.2 Termination by Partner
Partner may terminate these Terms at any time by providing not less than thirty days' written notice to Wectory at legal@wectory.com. Termination by Partner does not relieve Partner of liability for any accrued obligations, including payment of outstanding Platform Fees, and does not entitle Partner to any refund of fees previously paid.
16.3 Termination by Wectory for Cause
Wectory may terminate these Terms immediately upon written notice to Partner if Partner commits a material breach of these Terms and fails to cure such breach within fourteen days of receiving written notice specifying the breach and requiring its cure, Partner engages in any prohibited conduct as described in Section 6, Partner fails to pay any amounts due to Wectory within thirty days of the due date, Partner becomes insolvent, enters administration or liquidation, makes an arrangement with creditors, or is subject to any analogous event under applicable law, Partner is subject to regulatory investigation or enforcement action that, in Wectory's reasonable judgment, poses reputational or legal risk to Wectory, or Wectory is required to terminate by law, regulation, or order of a competent authority.
16.4 Termination by Wectory for Convenience
Wectory may terminate these Terms at any time by providing not less than ninety days' written notice to Partner.
16.5 Suspension
Without prejudice to Wectory's termination rights, Wectory may suspend Partner's access to the Service immediately upon written notice if Wectory reasonably believes that Partner has committed or is committing a material breach of these Terms, suspension is necessary to protect the integrity or security of the Service, or suspension is required by law, regulation, or order of a competent authority. Wectory will use reasonable efforts to limit the scope and duration of any suspension to what is necessary in the circumstances and will restore access promptly when the circumstances giving rise to suspension have been resolved.
16.6 Effect of Termination
Upon termination of these Terms for any reason, Partner's licence to access and use the Service terminates immediately, all outstanding amounts owed by Partner to Wectory become immediately due and payable, Wectory will continue to operate collection services in respect of active advances for a period of ninety days following termination or until all active advances are completed or otherwise resolved, whichever is earlier, Partner may export its data from the Portal for a period of thirty days following termination, after which Wectory may delete Partner data in accordance with its data retention policies, and each party must return or destroy the other party's Confidential Information in accordance with Section 12.
16.7 Survival
The following provisions survive termination of these Terms and continue in full force and effect: Section 2 (Important Notices), Section 7.2 and 7.3 (Scoring Limitations), Section 8.3 (Collection Limitations), Section 9 (Fees) to the extent of accrued obligations, Section 10 (Data Protection), Section 11 (Intellectual Property), Section 12 (Confidentiality), Section 13 (Disclaimers), Section 14 (Limitation of Liability), Section 15 (Indemnification), Section 16.6 and 16.7 (Effect of Termination and Survival), Section 17 (Dispute Resolution), and Section 18 (General Provisions).
17. Dispute Resolution
17.1 Informal Resolution
Before initiating any formal legal proceedings, the parties agree to attempt in good faith to resolve any dispute arising out of or in connection with these Terms through informal negotiation. A party wishing to invoke this dispute resolution procedure must send written notice to the other party describing the dispute in reasonable detail. The parties will engage in direct discussions for a period of not less than thirty days from receipt of such notice, escalating to senior management if initial discussions do not resolve the dispute.
17.2 Governing Law
These Terms and any dispute or claim arising out of or in connection with them or their subject matter or formation, including non-contractual disputes or claims, shall be governed by and construed in accordance with the laws of England and Wales.
17.3 Jurisdiction
The courts of England and Wales shall have exclusive jurisdiction to settle any dispute or claim arising out of or in connection with these Terms or their subject matter or formation, including non-contractual disputes or claims. Each party irrevocably submits to the exclusive jurisdiction of such courts and waives any objection to proceedings in such courts on the grounds of venue or on the grounds that proceedings have been brought in an inconvenient forum.
17.4 Limitation Period
Any claim arising out of or in connection with these Terms must be commenced within two years of the date on which the cause of action accrued, except where a shorter limitation period is prescribed by applicable law. For the avoidance of doubt, a cause of action accrues when the claimant first has a right to bring the claim, regardless of when the claimant became aware of the facts giving rise to such right.
18. General Provisions
18.1 Amendments
Wectory may amend these Terms from time to time by posting updated Terms at wectory.com/legal/terms and providing not less than thirty days' written notice to Partner's registered email address. Material amendments take effect thirty days after notice is given, unless a longer notice period is required by applicable law. Partner's continued use of the Service after the effective date of any amendment constitutes acceptance of the amended Terms. If Partner does not agree to any amendment, Partner may terminate these Terms before the effective date of the amendment by giving notice in accordance with Section 16.2.
18.2 Severability
If any provision of these Terms is held by a court of competent jurisdiction to be invalid, illegal, or unenforceable, such provision shall be modified to the minimum extent necessary to make it valid, legal, and enforceable while preserving the parties' original intent, or if such modification is not possible, shall be severed from these Terms. The invalidity, illegality, or unenforceability of any provision shall not affect the validity, legality, or enforceability of any other provision, and all other provisions shall continue in full force and effect.
18.3 Waiver
No failure or delay by either party in exercising any right, power, or remedy under these Terms shall operate as a waiver of such right, power, or remedy. No single or partial exercise of any right, power, or remedy shall preclude any other or further exercise of such right, power, or remedy or the exercise of any other right, power, or remedy. Any waiver must be in writing and signed by the waiving party to be effective.
18.4 Assignment
Partner may not assign, transfer, or delegate any of its rights or obligations under these Terms without Wectory's prior written consent, and any attempted assignment without such consent shall be void. Wectory may assign its rights and obligations under these Terms to any affiliate or in connection with a merger, acquisition, corporate reorganisation, or sale of all or substantially all of its assets, without Partner's consent and without notice.
18.5 No Partnership or Agency
Nothing in these Terms creates or shall be construed as creating any partnership, joint venture, agency, or employment relationship between the parties. Neither party has any authority to bind the other party or to incur any obligation on the other party's behalf.
18.6 Third Party Rights
A person who is not a party to these Terms has no rights under the Contracts (Rights of Third Parties) Act 1999 to enforce any provision of these Terms, except that Wectory's affiliates, officers, directors, employees, agents, and licensors may enforce the limitations and exclusions in Sections 13, 14, and 15.
18.7 Force Majeure
Neither party shall be liable for any failure or delay in performing its obligations under these Terms to the extent that such failure or delay results from circumstances beyond the party's reasonable control, including natural disasters, acts of God, war, terrorism, riots, civil unrest, actions of governmental authorities, epidemics or pandemics, failures of power supply or telecommunications infrastructure, or failures of third-party services. A party affected by a force majeure event must give prompt notice to the other party and use reasonable efforts to mitigate the effects of the event and resume performance as soon as practicable.
18.8 Notices
Notices to Partner may be given by email to the address associated with Partner's account or by posting in the Portal, and shall be deemed received when sent by email or when posted in the Portal. Notices to Wectory must be given by email to in@wectory.com or by post to Wectory Ltd, 86-90 Paul Street, London, Greater London, England, EC2A 4NE, United Kingdom, United Kingdom, and shall be deemed received when actually received. Either party may change its notice address by giving notice in accordance with this Section 18.8.
18.9 Language
These Terms are written in English, and the English language version shall govern the interpretation of these Terms. Any translations of these Terms are provided for convenience only, and in the event of any conflict between the English version and any translation, the English version shall prevail.
18.10 Headings
The headings in these Terms are for convenience of reference only and shall not affect the interpretation of these Terms.
Schedule 1: Data Processing Agreement
1. Scope and Application
This Data Processing Agreement ("DPA") forms part of the Terms of Service and governs Wectory's processing of landlord personal data on Partner's behalf. Wectory is the Processor; Partner is the Controller. Terms defined in the Terms of Service have the same meaning in this DPA unless otherwise specified.
2. Subject Matter and Details of Processing
The subject matter of processing is the provision of rental factoring infrastructure services as described in the Terms of Service. The duration of processing is the duration of the Terms plus any applicable data retention periods. The nature and purpose of processing is risk assessment, payment collection, document generation, and related platform operations. The types of personal data processed include names and contact details, bank account details, property addresses and details, rental payment history, and tenancy information. The categories of data subjects are landlords and, to a limited extent for scoring purposes, tenants.
3. Processor Obligations
Wectory shall process landlord personal data only on Partner's documented instructions, including the instructions set out in the Terms of Service, and shall inform Partner if Wectory believes that any instruction infringes applicable data protection legislation. Wectory shall ensure that all personnel authorised to process landlord personal data have committed to confidentiality or are under an appropriate statutory obligation of confidentiality. Wectory shall implement appropriate technical and organisational measures to ensure a level of security appropriate to the risk of processing, taking into account the state of the art, the costs of implementation, and the nature, scope, context, and purposes of processing. Wectory shall not engage any sub-processor without Partner's prior authorisation. Partner grants general authorisation for Wectory to engage sub-processors subject to Wectory maintaining a list of sub-processors at wectory.com/legal/sub-processors, notifying Partner of any intended changes to sub-processors not less than thirty days in advance, and ensuring that sub-processors are bound by data protection obligations consistent with those in this DPA. Partner may object to any new sub-processor by giving notice within fourteen days of receiving notification, and if the parties cannot resolve the objection, Partner may terminate the Terms of Service. Wectory shall, taking into account the nature of the processing, assist Partner by appropriate technical and organisational measures in fulfilling Partner's obligation to respond to requests from data subjects exercising their rights under data protection legislation. Wectory shall assist Partner in ensuring compliance with obligations relating to security of processing, breach notification, data protection impact assessments, and prior consultation with supervisory authorities, taking into account the nature of processing and the information available to Wectory. Wectory shall, at Partner's choice, delete or return all landlord personal data to Partner on termination of the Terms of Service, and delete existing copies unless retention is required by applicable law. Wectory shall make available to Partner all information necessary to demonstrate compliance with obligations under data protection legislation and shall allow for and contribute to audits, including inspections, conducted by Partner or an auditor mandated by Partner, provided that Partner gives reasonable notice of any audit, conducts audits during normal business hours, minimises disruption to Wectory's operations, and bears its own costs.
4. Controller Obligations
Partner warrants that it has a lawful basis for all processing of landlord personal data, that it has provided appropriate privacy notices to data subjects, that all landlord personal data provided to Wectory is accurate and up to date, and that its instructions to Wectory comply with applicable data protection legislation.
5. Data Breach Notification
Wectory shall notify Partner without undue delay, and where feasible within forty-eight hours, upon becoming aware of a personal data breach affecting landlord personal data. Such notification shall include a description of the nature of the breach, the categories and approximate number of data subjects affected, the likely consequences of the breach, and the measures taken or proposed to address the breach.
6. International Transfers
Where Wectory transfers landlord personal data outside the United Kingdom or European Economic Area, Wectory shall ensure that appropriate safeguards are in place in accordance with Section 10.5 of the Terms of Service.
7. Term
This DPA shall remain in force for the duration of the Terms of Service. The obligations of the parties under this DPA shall survive termination of the Terms of Service to the extent necessary to give effect to the parties' data protection obligations.
Schedule 2: Acceptable Use Policy
1. Application
This Acceptable Use Policy supplements the Terms of Service and provides additional detail on permitted and prohibited uses of the Service.
2. Permitted Uses
Partners may use the Service to assess and score landlords for rent advance products using the Scoring Engine, generate factoring agreements and related documents using the Document Engine, collect advance repayments via Direct Debit through the Collection Hub, manage their advance portfolio and monitor performance through the Portal, integrate with property management systems via approved integrations, and access APIs and webhooks for custom integrations in accordance with applicable documentation.
3. Prohibited Uses
In addition to the prohibitions set out in Section 6 of the Terms of Service, Partners must not submit data to the Service for landlords, properties, or tenancies that do not exist, fabricate or falsify rental payment history, tenancy information, or other data submitted to the Service, submit data for properties located outside the United Kingdom without Wectory's prior written approval, use the Service for any purpose other than offering rent advance products to landlords in connection with Partner's property management or lettings business, charge landlords interest rates, fees, or other amounts that would cause the advance product to constitute regulated credit requiring authorisation under the Consumer Credit Act 1974, structure advances or relationships in ways designed to circumvent consumer protection laws or financial services regulations, target landlords who are vulnerable due to financial distress, mental incapacity, or other circumstances, with exploitative or unfair terms, engage in high-pressure sales tactics or make misleading representations to landlords regarding advance products, exceed API rate limits or consume platform resources in a manner that degrades service for other Partners, attempt to scrape, harvest, or extract data from the Service beyond what is available through approved APIs, introduce malicious code, viruses, or other harmful material into the Service, or attempt to probe, scan, or test the vulnerability of the Service or any associated systems or networks.
4. Enforcement
Wectory may enforce this Acceptable Use Policy through the measures set out in Section 6.5 of the Terms of Service.
Schedule 3: Service Level Objectives
1. Application
This Schedule describes Wectory's service level objectives for the Service. These are performance targets that Wectory endeavours to meet; they are not contractual guarantees and do not give rise to any claim, credit, or remedy if not met.
2. Platform Availability
Wectory targets availability of the Portal and API of 99.5% measured on a monthly basis, excluding scheduled maintenance periods for which not less than forty-eight hours' notice is provided, outages of third-party services on which the platform depends, force majeure events, and service degradation or unavailability caused by Partner's actions or systems.
3. Support Response Times
Wectory targets initial response to support requests within the following timeframes: for critical issues where the Service is completely unavailable, one hour during business hours; for high priority issues where major functionality is impaired, four hours during business hours; for medium priority non-critical issues, one business day; and for low priority general enquiries, two business days. Business hours are Monday to Friday, 9:00 AM to 6:00 PM UK time, excluding UK bank holidays.
4. Collection Timing
Wectory targets the following timelines for collection operations: submission of mandates to Bacs on the same business day as mandate creation in the Portal; mandate activation within three to five business days of submission; initiation of collections three business days before the scheduled due date; confirmation of collection outcomes within two business days of the due date; and settlement of collected funds to Partner accounts within two to three business days of successful collection.
5. API Performance
Wectory targets the following API response times measured at the 95th percentile: for read operations, 200 milliseconds; for write operations, 500 milliseconds; and for scoring requests, 2 seconds.
Definitions
In these Terms, unless the context otherwise requires:
"Advance" means a payment made by Partner to a Landlord in exchange for the assignment to Partner of rights to receive future rental income from the Landlord's tenant or tenants.
"Bacs" means Bacs Payment Schemes Limited and the Direct Debit scheme operated by it.
"Business Day" means a day other than a Saturday, Sunday, or public holiday in England.
"Confidential Information" has the meaning given in Section 12.1.
"Controller" has the meaning given in the UK GDPR.
"Data Processing Agreement" or "DPA" means the agreement set out in Schedule 1.
"Deal" means an individual advance transaction processed through the Service.
"Direct Debit Guarantee" means the guarantee provided to payers under the rules of the Bacs Direct Debit scheme.
"GoCardless" means GoCardless Ltd and its affiliates.
"Landlord" means a property owner or landlord who is a customer of Partner and who receives or applies for an Advance.
"Partner" means the business entity that has registered to use the Service and is bound by these Terms.
"Platform Fee" means the fee charged by Wectory for use of the Service as set out in Section 9.
"Portal" means the web-based Partner dashboard accessible at app.wectory.com.
"Processor" has the meaning given in the UK GDPR.
"Scoring Engine" means Wectory's artificial intelligence-powered risk assessment system.
"Service" means the Wectory platform and all services provided by Wectory to Partner under these Terms.
"Term" has the meaning given in Section 16.1.
"Terms" means these Terms of Service, including all Schedules.
"UK GDPR" means the UK General Data Protection Regulation, being Regulation (EU) 2016/679 as it forms part of domestic law by virtue of section 3 of the European Union (Withdrawal) Act 2018.
"User" means an individual authorised by Partner to access the Portal on Partner's behalf.
"Wectory" means Wectory Ltd, a company registered in England and Wales.
Contact Information
General Enquiries: in@wectory.com
Partner Support: in@wectory.com
Legal and Compliance: in@wectory.com
Data Protection: in@wectory.com
Wectory Ltd
Company Registration Number: 12790239
Registered Office: 86-90 Paul Street, London, Greater London, England, EC2A 4NE, United Kingdom
United Kingdom
These Terms of Service are effective as of 1 January 2026.
© 2026 Wectory Ltd. All rights reserved.
