Property Tycoons Leads Trading System RULES OF ARBITRATION

These rules of arbitration exist to ensure a fair and safe environment for the buying and selling of leads via the Property Tycoons Leads Trading system. Should a dispute arise both Buyer, Seller and Vadesha Properties Ltd agree to the following rules:

    1) About Mediation / Arbitration:

    Should the Buyer and Seller not be able to come to agreement on the quality of a lead, both parties agree to designate Vadesha Properties Ltd as sole mediator and arbitrator (two distinct roles).  Vadesha Properties Ltd agrees to mediate and arbitrate fairly and impartially according to the rules in this section. Where no rules yet apply it will use its best judgement (in Vadesha Properties Ltd's sole opinion).  Buyer and Seller agree that Vadesha Properties Ltd's decision is final and binding to them and hereby waive any other further legal challenges or remedies including but not limited to civil or criminal litigation against the other party or Vadesha Properties Ltd.

    2) Mediation:

    Before arbitrating, Vadesha Properties Ltd may attempt to first mediate a mutually acceptable compromise solution between both parties if it determines the option is a viable one. A compromise can provide a quick and easy way for both parties to obtain a successful outcome, without the time and energy required by a full-blown arbitration. Both Buyer and Seller understand and acknowledge that they are NOT required to accept any mediation proposals. Vadesha Properties Ltd acknowledges that the refusal of any party to accept a mediation proposal will not affect its standing in the subsequent arbitration.

    If a mediation successfully occurs in which the original lead sale is either reduced or cancelled, Vadesha Properties Ltd will document what occurred by placing a rating on one or both parties' records, as detailed below under "Vadesha Properties Ltd Ratings".

    Should either party not agree to a mediation compromise, or should Vadesha Properties Ltd (at it's sole discretion) determine that the option is not a viable one, the process moves on to arbitration.

    3) Arbitration:

    Arbitration is much like a court case (think of us as Judge Judy and you’ll get the picture). Much like a trial case, each party's side is weighed and often evidence needs to be gathered to determine the prevailing party.

    Arbitration of a lead sale is based solely on whether or not the lead met the conditions specified in the sellers lead original posting (unless either Buyer or Seller prematurely forfeits by the other rules of arbitration detailed below).    The “Lead” is defined as:

        * The original lead posting on the Property Tycoons Leads Trading system

        * The subsequent clarifications and/or changes made in communications from both sides in the Property Tycoons Forum private messaging system system.

         Both Buyer and Seller agree that any discussions conducted outside of the Property Tycoons Forum (including email, off-site chat and oral conversations over the phone) are NOT considered part of the 'Lead' and WILL NOT be taken into account.

        In the event that either Buyer or Seller disputes with the other party any portion of the 'Lead' (including but not limited to disputes over an alleged contradiction, interpretation, or applicability) Vadesha Properties Ltd will be the final determiner of the best method of resolving the issue.  It will make this determination using the most impartial method that it can, in good faith, devise.

         Despite repeated warnings to both Buyer and Seller to the contrary, occasionally Vadesha Properties Ltd finds that both parties have neglected to use the site private messaging system to detail key items of the 'Lead', withholding the information necessary to make what Vadesha Properties Ltd feels is a "just" arbitration decision.  This can happen due to a deliberate manipulation by one party and/or due to genuine ignorance of the consequences of such behaviour by one or both parties. Should Vadesha Properties Ltd determine this to be the case, it may extend the definition of the 'Lead' to include items not normally covered (such as chat logs from SKYPE or MSN messenger for example).  However, neither Buyer nor Seller may demand such an extension nor possess the "right" to such an extension.  Instead Buyers and Sellers agree to properly document the 'Lead' on the site as Vadesha Properties Ltd warns, and not expect, or count on an extension to occur in any arbitration.  Site users who repeatedly do not use the site private messaging system to document the 'Lead' may be stopped from using the Property Tycoons Leads Trading system.

    4) 'Quick Resolution' Arbitrations

        * If either party closes their trading account, then they agree that they will forfeit any ongoing and/or future arbitrations.

    5) 'Insufficient Progress' Arbitration

    If the Buyer charges that the Seller is not making sufficient progress on a Lead details check request, the Seller must supply specific demonstrable proof to the contrary. Examples of demonstrable proofs of progress are (depending on the level of progress expected) proof of emails sent to the seller, details of visits made to the property and details of calls made to the homeowner. If Vadesha Properties Ltd determines that demonstratable proof of progress has not been supplied, the Lead Seller will be found in forfeiture of arbitration.

    6) 'Deliverable Dispute' Arbitration

    The typical arbitration case involves a disagreement on what was delivered. The Buyer typically claims that they did not receive correct contact details of the property seller and the Seller typically claims that they did provide correct contact details to the Buyer.

    The only way to determine who is being truthful and who isn't is to test the contact details of the seller.  When this occurs, Vadesha Properties Ltd will attempt to contact the homeowner.  Should one or more contact details be verified, then the lead seller wins arbitration.  Should no contact details be verified then the lead buyer wins arbitration. 

    7) Forfeiting Arbitration by not responding

    Lead Seller agrees to be prompt in corresponding with Lead Buyer and Vadesha Properties Ltd. Should a Lead Seller not fully comply with Vadesha Properties Ltd requests the Lead Seller will forfeit the arbitration (at Vadesha Properties Ltd's sole discretion). Should a Lead Seller not respond to Vadesha Properties Ltd arbitration communication in 3 days, they will forfeit arbitration (at Vadesha Properties Ltd's sole discretion).  Should a Lead Seller respond in 3 days but (in Vadesha Properties Ltd's sole determination) attempt to stall the arbitration by inadequately addressing one or more issues, then they may also be ruled in forfeit of the arbitration (at Vadesha Properties Ltd's sole discretion).

    If a Lead Seller forfeit occurs then Lead Seller forfeits the arbitration as well as the entire amount of the funds. Vadesha Properties Ltd may (at it's sole discretion) either award those funds to the Lead Buyer without further investigation, or choose to investigate. If Vadesha Properties Ltd chooses to investigate, they will award the Lead Buyer the percentage that Vadesha Properties Ltd determines is fair.

    Lead Buyer agrees to be prompt in corresponding with Lead Seller and Vadesha Properties Ltd.  Should a Lead Buyer not respond to Vadesha Properties Ltd arbitration communication in 3 days, they will forfeit arbitration (at Vadesha Properties Ltd's sole discretion).  Should a Lead Buyer respond in 3 days but (in Vadesha Properties Ltd's sole determination) attempt to stall the arbitration by inadequately addressing one or more issues, then they may also be ruled in forfeit of the arbitration (at Vadesha Properties Ltd's sole discretion).

    8) When the Buyer Wins Arbitration:

    If the Lead Buyer is awarded back 100% of their funds on a lead, then they agree that the lead may NOT be kept by the Buyer. Buyer agrees to relinquish possession by promptly and completely destroying all details of the lead and copies of the lead in their possession.

    9) One Party Rating the Other Party:

    To prevent 'retaliatory ratings', the losing party in arbitration forfeits the right to rate the other party. Vadesha Properties Ltd reserves the right to suspend rating rights on either party and/or to remove/edit ratings that it judges to be either retaliatory in nature or involving a "trade" of favourable ratings to avoid a deserved bad rating.

    10) Vadesha Properties Ltd Ratings:

    Vadesha Properties Ltd reserves the right to rate any party at any time, as detailed previously.

    However mediations and arbitration situations receive special scrutiny from Vadesha Properties Ltd because they often tempt one party to "trade" a deserved bad rating in return for performing a concession for the other party.  This practice is unfair to future buyers and sellers who rely on the ratings to make decisions and taints the overall integrity of the rating system.

    To prevent this, both parties agree to cooperate fully and completely with Vadesha Properties Ltd's investigations as to why a cancellation or reduction in payment has occurred. Vadesha Properties Ltd (at it's sole discretion) will determine who is "at fault" and will then apply it's own rating as follows:

        * When one party is found at fault

          The at fault party receives a negative rating with a comment detailing  what occurred and the arbitration is recorded as a 'lost' arbitration on their record for that particular lead.

        * When two parties are found at fault.

          Both parties will receive a negative rating with a comment detailing what occurred and the arbitration is recorded as a 'lost' arbitration on their record.

        * When Vadesha Properties Ltd can't determine who is at fault

          There are times when it is not possible (or economically practical) to determine conclusively which party is at fault and which isn't.  In these cases, both parties will receive a neutral rating with a comment detailing each party's unverifiable position.  The arbitration is recorded as ‘neutral’ arbitration on both party's records.

        * When Vadesha Properties Ltd determines that neither party is at fault

          Both parties will receive a neutral rating with a comment detailing why the result was neither party "at fault".  The arbitration is recorded as ‘neutral’ arbitration on both party's records.

    11) Lead seller cancellation grace period:

    A Lead Buyer may, in good faith, buy a lead and then discover that the purchase was a mistake. This could happen when the Lead buyer clicks to buy a lead by mistake from the website or through their mobile phone. If a Lead Buyer notifies the Seller or Vadesha Properties Ltd, within 24 hours after the Lead Buyer fully completes the payment, with a reason, Vadesha Properties Ltd will grant them a neutral rating, rather than a poor/bad rating. A comment indicating that the cancellation grace period was exercised by the Seller will be documented by Vadesha Properties Ltd on both the Seller and Buyer's profiles. Should Vadesha Properties Ltd (at it's sole discretion) determine that the reason does not appear to be legitimate (including but not limited to 'I pressed the button by mistake'), it can revoke this privilege.

    12) Inappropriate Behaviour:

    If Buyer or Seller threatens or harasses the other party or Vadesha Properties Ltd, does not treat the arbitration process with respect or professionalism, does not follow arbitrator instructions, attempts (in Vadesha Properties Ltd's sole opinion) to manipulate or unduly influence the arbitration process, or breaks any rules in the buyer or seller agreement or in the site terms and conditions, then Vadesha Properties Ltd may choose to automatically forfeit that party and rule in favour of the opposite party, as well as permanently terminate that party's membership of The Tycoons Forum.

    13) Unfair contact via phone:

    Vadesha Properties Ltd arbitrators must maintain their objectivity to produce a fair judgement. This cannot be maintained when a party initiates one or more phone calls to attempt to influence or pester the arbitrator into deciding in their favour. To prevent this, both parties agree to communicate exclusively via the site private messaging system and not by phone. Vadesha Properties Ltd arbitrators can communicate by phone to explain the rules, clarify statements that they made (if they were unclear to a party), or explain how to post to arbitration. But the actual arbitration itself cannot be discussed on a phone call initiated by either party.

    14) Re-examining/re-opening arbitrations

    If Vadesha Properties Ltd determines (at its sole discretion) that an arbitration result was not (or may not) have been 100% correct, it has the right to re-examine and/or re-open any and/or all parts of it. If Vadesha Properties Ltd (at its sole discretion) determines that a change should be made, the new change takes precedence over any original resolution. If Vadesha Properties Ltd re-opens an arbitration, all parties have the same rights, duties and responsibilities as in a normal arbitration.

    15) Freezing of funds in account

Sellers going through arbitration will not be paid the profits for a lead sale until the arbitration has been completed. Therefore it is in a lead seller’s interest to make sure any disputes are sorted out privately. Whatever agreement you come to (say a partial or full refund) please let us know and we will action it for you.