The commercial terms governing procurement services provided by Bundle Technologies Ltd to buyer organisations. These terms apply in addition to the Platform Terms of Service.
"Bundle IQ" or "we" means Bundle Technologies Ltd, a company registered in England and Wales.
"Customer" or "you" means the organisation or individual who has registered a buyer account and accepted these Terms of Engagement.
"Platform" means the Bundle IQ software platform accessible at bundleiq.co.uk and associated applications.
"Procurement Services" means the managed procurement activities Bundle IQ performs on your behalf, including requirement scoping, market benchmarking, vendor sourcing, tender management, response evaluation, contract generation, and payment facilitation.
"Vendor" means a supplier, contractor, or service provider registered on the Bundle IQ platform who responds to procurement requirements.
"Contract" means any commercial agreement between you and a Vendor that is generated or executed through the Platform.
"IQ Protection" means the escrow payment service described in Clause 6.
Bundle IQ provides procurement expertise on demand. We are your procurement partner, not your legal representative or financial adviser.
We are not a party to your supplier contracts. Contracts executed through the Platform are between you and the Vendor. Bundle IQ facilitates the process and holds funds in escrow but does not assume the obligations of either party.
Bundle IQ's IQ analysis, vendor recommendations, and contract templates are provided as professional tools to assist your decision-making. The final decision on vendor selection, contract award, and milestone confirmation rests with you.
You agree to:
| Tier | Contract value | Bundle IQ fee | Charged to |
|---|---|---|---|
| Marketplace | Under £2,000 | Free to buyers | Vendor (listed rate) |
| Quick Quote | £2,000–£10,000 | 2.5% of contract value | Vendor on award |
| RFQ | £10,000–£100,000 | 2.5% of contract value | Vendor on award |
| ITT / Managed | £100,000+ | Agreed fixed fee or 1.5% | Agreed at engagement |
| IQ Protection | Any | 0.5% of milestone value | Buyer (deducted from escrow) |
All applicable fees are displayed to you before you confirm any procurement action. You will never be charged a fee you have not explicitly seen and accepted.
Bundle IQ charges no fee on requirements that do not result in an awarded contract. If you run a procurement process and do not award to any vendor, you pay nothing.
Fees are charged at contract execution. For contracts managed through IQ Protection, the fee is deducted automatically from the escrow balance. For contracts where IQ Protection is not used, fees are invoiced to the buyer on a net-30 basis.
IQ Protection is a client money escrow service. Funds you place in escrow are held in a designated client account separate from Bundle IQ's operational accounts and are not available to Bundle IQ's creditors.
By confirming a milestone on the Platform, you confirm that the deliverable has been received and is acceptable. Milestone confirmations are irreversible. If you have concerns about quality or completeness, raise a dispute before confirming.
Where Bundle IQ has introduced you to a Vendor through the Platform, you agree not to engage that Vendor directly for the same or substantially similar services, outside the Platform, for a period of 12 months from the end of any contract between you, without Bundle IQ's prior written consent.
This clause does not apply to vendors you introduced to the Platform yourself, or vendors with whom you had an existing commercial relationship prior to your use of Bundle IQ.
Breach of this clause may result in a sourcing fee equivalent to 5% of the directly-engaged contract value becoming payable to Bundle IQ.
Bundle IQ treats all procurement requirements, commercial terms, and pricing information as confidential. We do not share your requirement details with any party other than vendors invited to respond, and we do not share vendor pricing with competing vendors.
Anonymised, aggregated benchmarking data (with no identifying information) may be used to improve IQ's market analysis capabilities.
Contracts, statements of work, and documents generated by Bundle IQ on your behalf become your property on execution. Bundle IQ retains rights in the templates and generation methodology but not in the specific output created for your requirement.
Bundle IQ's aggregate liability to you under these Terms of Engagement, whether in contract, tort, or otherwise, shall not exceed the greater of: (a) the fees paid by you to Bundle IQ in the 12 months preceding the claim; or (b) £10,000.
Bundle IQ is not liable for: Vendor non-performance; loss of profit, revenue, or business opportunity; indirect or consequential losses; or any loss arising from your reliance on IQ analysis as a substitute for your own commercial judgement.
For disputes between you and a Vendor, Bundle IQ provides the structured dispute resolution service described in the Buyer Guide. Bundle IQ's determination is binding for disputes up to £25,000. For larger disputes, the parties may use a recognised ADR service.
For disputes between you and Bundle IQ, the parties agree to attempt resolution through good-faith negotiation for 30 days before commencing formal proceedings. Formal disputes are subject to the exclusive jurisdiction of the courts of England and Wales.
These Terms of Engagement remain in effect for as long as you hold a buyer account on the Platform. You may close your account at any time. Active contracts at the time of account closure continue under their own terms until completion, expiry, or termination in accordance with those contracts.
Bundle IQ may suspend or terminate your access to the Platform for material breach of these Terms or the Platform Terms of Service, with reasonable notice except in cases of fraud or serious misconduct.
Bundle IQ may update these Terms of Engagement from time to time. We will give you at least 30 days' notice of material changes via email. Continued use of the Platform after the effective date constitutes acceptance of the revised terms.
These Terms of Engagement are governed by the laws of England and Wales. Any dispute not resolved by the process in Clause 11 shall be subject to the exclusive jurisdiction of the courts of England and Wales.