These Terms of Service ("Terms") constitute a legally binding agreement between 1SqFt Pvt. Ltd., a company incorporated under the laws of Pakistan with its registered office at Gatwala Chowk, Canal Expressway Sheikhupura Road Faisalabad, (hereinafter referred to as "1SqFt", "we", "us", or "our"), and any person or entity ("User", "you", or "your") who accesses or uses the 1SqFt fractional real estate platform and its associated services.
By registering for an account, accessing, browsing, making a purchase, listing a fractional property unit, transferring ownership, or otherwise using any part of the 1SqFt platform (including the 1SqFt Portal directly or through any integrated partner front-end website) you acknowledge that you have read, understood, and agree to be bound by these Terms, as well as our Privacy Policy. If you do not agree with any part of these Terms, you must not use our Platform.
Refers to the core backend platform, infrastructure, and APIs operated by 1SqFt, which facilitates fractional real estate listings, transactions, and user management.
Refers to any private front-end website (e.g., Developer XYZ’s Listing Portal, hereinafter "Project Front End") owned and operated by a third-party developer or marketing entity, which is integrated with the 1SqFt Portal via 1SqFt APIs for the display of listings and processing of transactions.
Collectively refers to the 1SqFt Portal and any integrated Partner Platforms through which Users access 1SqFt's services.
Means any person or entity who registers an account on the Platform, whether directly via the 1SqFt Portal or through a Partner Platform.
Means a fractional property unit or share, representing a proportionate ownership interest in a Real Estate Asset, listed and sold through the Platform. Each Fraction may be a digital token or a contractual right, as specified in the relevant offering documents.
Means the underlying physical property (e.g., land, apartment, shop) which is fractionalized and offered for ownership through the Platform.
Means Know Your Customer identity verification processes required by regulatory bodies and the Platform to verify a User's identity.
Means Anti-Money Laundering regulations and procedures designed to prevent the use of the Platform for illicit financial activities.
Means the transaction fee charged by 1SqFt for facilitating transactions on the Platform, as per the applicable fee schedule.
Means the digital account maintained by 1SqFt for each User on the Platform, where funds and SQFT units are held and managed.
To be eligible to create an account and use the Platform, you must:
When you sign up via a Partner Platform (e.g., Project Front End), your account will be created on the 1SqFt Portal. By doing so, you agree to both the Partner Platform's terms and conditions and privacy policy, in addition to these Terms and 1SqFt's Privacy Policy.
KYC completion is mandatory for all Users. You will be required to provide necessary documentation for identity verification before you can engage in any transactions beyond initial registration, including but not limited to purchasing, listing, transferring, or withdrawing balances/benefits.
1SqFt provides the core backend technology, infrastructure, and APIs for fractional real estate listing, management, and transaction processing. We are an IT company facilitating these services, not typically the direct seller or developer of the Real Estate Assets.
Partner Platforms utilize 1SqFt's APIs to power their front-end operations, displaying their own branding, specific property listings, and content. While listings and units displayed on Partner Platforms belong to the respective partners (e.g., Project), the underlying backend and transaction processing occur on the 1SqFt Portal.
1SqFt stores User account data in accordance with its Privacy Policy. Passwords are encrypted and not accessible in plain text. By registering, you agree that 1SqFt will have access to your data for operational, security, compliance, and dispute resolution purposes.
All transactions and activities on the Platform are subject to applicable local, state, federal, and international laws, regulations, and AML rules. We reserve the right to report any suspicious activity to relevant authorities.
Payment Methods: Purchases of Fractions may be made using approved payment methods supported by the Platform, which may include credit/debit cards, JazzCash, or other local/international payment gateways.
Acknowledgment of Terms: By making a purchase, you acknowledge and agree to the specific payment plan, installment schedule, and any applicable penalties for late payments associated with that particular Real Estate Asset or listing. These terms are often set by the Partner Platform or developer, but enforced by 1SqFt's system.
Transaction Processing: All financial transactions, including purchase payments, are processed through the 1SqFt Portal. Processing Fees charged by 1SqFt are retained by 1SqFt, and the remaining amount is settled with the Partner Platform or developer as per agreed terms.
Ownership: Upon successful completion of a purchase and full payment (if applicable), you will acquire fractional ownership interest in the specified Real Estate Asset, subject to the terms of the specific offering.
No Guarantee of Value: You acknowledge that fractional property investment carries inherent market risk. 1SqFt does not guarantee the future value, profitability, or resale potential of any purchased SQFT units.
Listing Visibility:
Purchase Options: Buyers may purchase all listed units in bulk or partial units (e.g., 1 or 2 SQFT out of a larger listing), subject to minimum purchase requirements set by the lister or the Platform.
Listing Management:
Right to Delist: 1SqFt reserves the right to delist any property or Fraction that violates Platform policies, legal requirements, or is subject to an unresolved dispute.
Eligibility: Direct transfers of SQFT units between Users are only permitted between verified 1SqFt Users who have completed all KYC requirements.
Process: All transfers must be executed via the 1SqFt Portal. The agreed sale price will be credited to the seller's Wallet within the Platform, minus any applicable Processing Fees.
Installment Obligations: If the transferred SQFT units are subject to ongoing installment obligations, these will be recalculated based on the SQFT units remaining in the seller's ownership and transferred to the buyer's obligation for the acquired SQFT.
Finality: Transfers are final and non-reversible once accepted by the purchaser.
1SqFt's Role: 1SqFt's role in direct transfers is limited to facilitating the technical transfer of SQFT units and funds on the Platform. 1SqFt is not responsible for price negotiations, valuation disputes, or any post-transfer disagreements between Users.
1SqFt determines and updates its Processing Fees at its sole discretion. These fees are typically charged for facilitating transactions and maintaining the Platform.
Partner Platforms or developers may charge their own listing, management, or property-related fees, which are separate from 1SqFt's Processing Fees. You are responsible for understanding and paying all applicable fees.
Users are solely responsible for any applicable taxes, duties, levies, or governmental charges associated with their transactions and ownership of Fractions on the Platform.
1SqFt may use third-party payment processors to facilitate transactions. By using the Platform, you agree to be bound by the terms and conditions of such third-party payment processors.
Cancellations of purchases can be initiated by the User through the Platform.
All cancellation requests will be subject to a cooldown period from the date of initiation. During this period, you may have the option to withdraw your cancellation request.
Refunds, if applicable, will be processed after deducting any applicable cancellation fees, administrative charges, and penalties as specified in the purchase agreement or Platform policies.
After the cooldown period, cancellation requests may not be entertained, or only partial refunds (after deductions) may be provided at 1SqFt's sole discretion, depending on the specific terms of the Real Estate Asset and the Partner Platform.
Once a refund or cancellation has been processed and completed, the transaction is final and non-reversible.
All installment payments must be made on or before the due date specified in your payment plan.
If a payment is not received by the due date, a late payment fee will be applied to your outstanding amount. The late fee amount or percentage will be as per the Platform's latest fee schedule and is non-refundable.
A grace period of [10] days (or as specified in your payment plan) may be provided from the original due date, at the sole discretion of 1SqFt or the Partner Platform. During this period, you may settle your installment along with the late fee to avoid further action.
If an installment remains unpaid for three (3) consecutive months from its original due date, your purchased SQFT units may be automatically cancelled by the Platform without further notice.
In the event of automatic cancellation, a deduction fee will be applied to recover administrative, processing, and other associated costs incurred by 1SqFt and/or the Partner Platform.
Any remaining balance after the deduction fee will be refunded to your registered payment method or Wallet within [30] working days from the date of auto-cancellation, or as otherwise specified.
Once auto-cancellation has been processed, the transaction is final and non-reversible.
If the cancelled SQFT units were part of a larger portfolio or linked payment plan, the remaining installments and ownership structure will be recalculated accordingly.
You warrant that all information you provide to 1SqFt is accurate, complete, and truthful.
You are responsible for maintaining the security of your account and for all activities that occur under your account.
You must comply with all applicable local, state, federal, and international laws and regulations when using the Platform.
Any fraudulent registration, misrepresentation, misuse of account, or engagement in prohibited conduct may result in immediate account suspension, termination, forfeiture of funds, and/or legal action, including reporting to relevant authorities.
All content, features, and functionality of the Platform, including but not limited to text, graphics, logos, icons, images, software, and the compilation thereof, are the exclusive property of 1SqFt Pvt. Ltd. and are protected by copyright, trademark, and other intellectual property laws.
1SqFt grants you a limited, non-exclusive, non-transferable, revocable license to access and use the Platform for your personal, non-commercial use, strictly in accordance with these Terms.
If you upload or submit any content to the Platform, you grant 1SqFt a worldwide, non-exclusive, royalty-free, perpetual, irrevocable, and sublicensable license to use, reproduce, modify, adapt, publish, translate, create derivative works from, distribute, and display such content in any media. You represent and warrant that you own or have the necessary rights to grant this license.
1SqFt is a technology platform facilitator and does not provide financial, investment, legal, or tax advice. All information provided on the Platform is for informational purposes only and should not be construed as such.
You acknowledge and understand that fractional real estate investment carries inherent risks, including but not limited to market fluctuations, potential loss of principal, lack of liquidity, and property-specific risks. 1SqFt does not guarantee any returns, future value, profitability, or resale potential of purchased SQFT units.
The Platform and its services are provided on an "as is" and "as available" basis, without any warranties of any kind, either express or implied, including but not limited to implied warranties of merchantability, fitness for a particular purpose, or non-infringement.
1SqFt does not warrant that the Platform will be uninterrupted, error-free, secure, or free from viruses or other harmful components. We may experience hardware, software, or other problems or need to perform maintenance related to the Platform, resulting in interruptions, delays, or errors.
While 1SqFt strives to ensure the accuracy of information on its Portal, we do not warrant the accuracy, completeness, or reliability of any information provided by Partner Platforms or other third parties, including property descriptions or financial projections.
To the fullest extent permitted by applicable law, in no event shall 1SqFt, its affiliates, directors, employees, or agents be liable for any indirect, incidental, special, consequential, punitive, or exemplary damages, including but not limited to, damages for loss of profits, goodwill, data, or other intangible losses, arising out of or in connection with your use of the Platform or these Terms.
In no event shall 1SqFt's total aggregate liability to you for all damages, losses, and causes of action (whether in contract, tort, including but not limited to negligence, or otherwise) exceed the greater of PKR 10,000.
You agree to indemnify, defend, and hold harmless 1SqFt, its affiliates, directors, officers, employees, and agents from and against any and all claims, liabilities, damages, losses, costs, expenses (including reasonable attorneys' fees), or demands, arising out of or in connection with:
Your use of the Platform is also governed by our Privacy Policy, which is incorporated by reference into these Terms. Please review our Privacy Policy [Link to your Privacy Policy] to understand our practices regarding the collection, use, and disclosure of your personal data.
By using the Platform, you consent to the sharing of your data between 1SqFt and Partner Platforms for operational, security, compliance, and dispute resolution purposes, as necessary to provide the services.
We store User passwords in encrypted format. While we implement reasonable security measures, no data transmission over the internet or method of electronic storage is 100% secure.
In case of disputes solely between a User and a Partner Platform (e.g., Project) regarding property details, project specifics, or developer actions, 1SqFt may, at its sole discretion, mediate to facilitate a resolution but is not obliged to provide a binding resolution. The primary responsibility for addressing such disputes lies with the Partner Platform.
For financial transaction disputes related to external payment gateways or banks (e.g., JazzCash, credit/debit card chargebacks), the User must contact the respective service provider directly. 1SqFt may assist by providing transaction records, but we are not responsible for resolving disputes with third-party payment processors.
Any dispute, controversy, or claim arising out of or relating to these Terms or your use of the Platform directly with 1SqFt, which cannot be resolved amicably through good faith negotiations, shall be submitted to binding arbitration in accordance with the laws of Pakistan. The arbitration shall be conducted in Faisalabad City of Pakistan, and the decision of the arbitrator(s) shall be final and binding on both parties.
These Terms and your use of the Platform shall be governed by and construed in accordance with the laws of Pakistan, without regard to its conflict of law principles. Any legal action or proceeding arising under these Terms that is not subject to arbitration shall be brought exclusively in the competent courts located in Faisalabad, Pakistan.
1SqFt reserves the right to amend, modify, or update these Terms at any time, at its sole discretion. We will notify Users of any material changes via email to the registered email address or through a prominent notification on the Platform. Your continued use of the Platform after the effective date of the revised Terms constitutes your acceptance of the updated Terms. If you do not agree to the new Terms, you must stop using the Platform.
You may terminate your account at any time by following the instructions on the Platform or by contacting us via the provided contact information, subject to any outstanding obligations (e.g., pending payments, active listings).
1SqFt may, in its sole discretion, suspend or terminate your account and your access to the Platform, with or without notice, for any reason, including but not limited to:
Upon termination, your right to use the Platform will immediately cease. Any provisions of these Terms that, by their nature, should survive termination (including, without limitation, intellectual property, disclaimers, limitation of liability, indemnification, and dispute resolution) shall remain in full force and effect.
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