Welcome to the last quarter of the year. 2022 is reaching its grand finale.
There are silver linings among the trials and tribulations of living in a post-pandemic world. Sometimes we don't see the light, and it’s not because we need uninterrupted electricity to see the light. Many of our clients' businesses are doing well and they are busy.
As South Africans, our resilience is our silver lining. Over the last month, I have been travelling to Europe and businesses in the world's most advanced economies are not used to high inflation, increasing interest rates and political uncertainty.
South Africans know how to work in unpredictable environments. We have learnt from our past mistakes. And that makes us resilient and tenacious.
So gloomy is the mood in many international capitals that many investors ask whether a global recession has arrived. It is a hard question to answer, but regardless of whether economies are shrinking or not, it is hard to see how they can avoid a recession over the next year as monetary tightening bites and Europe heads into a bleak winter.
The silver lining is that higher interest rates and the energy shock will bring gains that should strengthen the world economy in the long run. The main global economic fault line is inflation. Thankfully, long-term inflation expectations look modest. We may be at the top of the inflation curve as governments take interest rate growth hormone to resolve inflationary pressure.
The main impetus for inflation is soaring global food prices and disrupted supply chains, which have raised the costs of imported goods. But some shortages are already easing around the world. With electricity disruption, the silver lining is that the South African government has announced that it will open energy supply to the private sector by allowing producers to sell electricity into the grid.
If the country and the world emerge from the current downturn with inflation under control and on the path to more secure electricity supplies, the short-term pain will not have been for nothing.
The world has learnt from its past failures.
Wishing you a successful last quarter.
INOSPACE (Pty) Ltd (“THE COMPANY”) WEBSITE TERMS OF SERVICE
THESE TERMS OF SERVICE (“TERMS”) ARE EFFECTIVE AS OF: 1 August 2022 “EFFECTIVE DATE”
READ THESE TERMS CAREFULLY BEFORE BROWSING THIS WEBSITE. YOUR CONTINUED USE OF THE WEBSITE WHETHER AS A USER (WHICH INCORPORATES A BROWSER) (“A USER”, “YOU” OR “YOUR”) INDICATES THAT YOU HAVE BOTH READ AND ACCEPT THESE TERMS. YOU CANNOT USE THIS WEBSITE IF YOU DO NOT ACCEPT THESE TERMS. ALL SECTIONS OF THESE TERMS ARE APPLICABLE TO YOU UNLESS THE SECTION EXPRESSLY STATES OTHERWISE. THESE TERMS SHALL OPERATE IN ADDITION TO ANY OTHER MORE SPECIFIC TERMS THAT MIGHT APPLY TO A USER. IF THERE EXISTS A CONFLICT BETWEEN THESE TERMS AND THE MORE SPECIFIC TERMS APPLICABLE TO A USER, THE MORE SPECIFIC TERMS SHALL PREVAIL TO THE EXTENT OF SUCH INCONSISTENCY.
1.1. These Terms will apply fully and affect a User’s use of the website https://www.inospace.com (“the Website”). By using this Website, a User agrees to accept the Terms contained herein in full.
1.2. Should a User not agree to the Terms contained herein, a User must immediately desist from using this Website.
1.3. Minors are not allowed to use this Website.
2. INTELLECTUAL PROPERTY RIGHTS
2.1. The Company and/or the Company’s licensors own all the intellectual property rights and materials as are contained on this Website.
2.2. A User is granted a limited license only for purposes of utilising this Website.
3.1. A User may not:
3.1.1. publish or mirror any of this Website’s material in any media whatsoever;
3.1.2. use this Website for any objectionable or unlawful purpose, including the posting of any threatening, libellous, defamatory, obscene, scandalous, inflammatory, pornographic, profane or spam material;
3.1.3. take any action that may impose an unreasonable or disproportionately large load on this Website’s infrastructure of any nature;
3.1.4. use this Website in any manner would result in a User breaching any applicable legislation or licensing obligations (including with respect to privacy) or any obligations a User may owe to third parties;
3.1.5. conduct any activity which compromises or breaches any third-party’s patent rights, trademark, copyright or other intellectual property rights;
3.1.6. introduce any virus, worm, trojan horse, malicious code or other program which may damage computers or other computer-based equipment of the Company or affect the performance of this Website;
3.1.7. engage in any data mining, data harvesting, data extracting or any other similar activity in relation to this Website;
3.1.8. use this Website contrary to applicable laws and regulations, or in any way may cause harm to the Website, or to any person or business entity;
3.1.9. use this Website to engage in any advertising or marketing other than in a manner expressly permitted by the Website;
3.1.10. crawl, spider or scrape the content of the Website, except to the extent required by recognised search engines (e.g. Google) for the purposes of indexing this Website; or
3.1.11. provide unauthorised interfaces to the Website.
3.2. Certain areas of this Website are restricted from being accessed by a User, and the Company may further restrict access by a User to any areas of this Website, at any time, in its absolute discretion. Any user ID and password a User may have for this Website are confidential and a User must maintain confidentiality as well.
4. A USER'S CONTENT
4.1. In these Terms, “a User’s Content” shall mean any audio, video text, images or other material a User may choose to display on this Website, if applicable. By displaying a User’s Content, a User grants the Company non-exclusive, worldwide irrevocable, sub licensable license to use, reproduce, adapt, publish, translate and distribute it in any and all media.
4.2. A User’s Content must be a User’s own and must not be invading any third-party's rights. The Company reserves the right to remove any of a User’s Content from this Website at any time without notice.
5. PERSONAL INFORMATION
5.1. The Company will not disclose or make available to any third party, directly or indirectly, any of a User’s personal information, except where the Company has such a User’s permission, where the personal information is already in the public domain (through no breach of these Terms), or if legally compelled to do so.
5.2. The Company fully subscribes to all policies in terms of the Protection of Personal Information Act.
5.3. Despite anything to the contrary, the User specifically agrees to have its shareable information, as described on the Website, made available to all registered users of the Website and specifically holds The Company harmless in this regard.
6. LINKS TO OTHER WEBSITES
6.1. This Website may contain links or portals to other websites. The Company has no control over websites operated by third parties and a User agrees that the Company is not responsible for and will have no liability in connection with a User’s access to or use of any third-party website.
7. NO WARRANTIES
7.1. This Website is provided “as is,” with all faults, and the Company express no representations or warranties, of any kind related to this Website or the materials contained on this Website.
7.2. The Company cannot guarantee or warrant that any file downloaded from this Website or delivered to a User will be free of infection or virus, worms, trojan horses or other code that has contaminating or destructive qualities. A User is responsible for implementing appropriate processes, systems and procedures to circumvent this type of issue.
8. LIMITATION OF LIABILITY AND INDEMNIFICATION
8.1. In no event shall the Company, or any of its officers, directors and employees, be held liable for anything arising out of or in any way connected with a User’s use of this Website whether or not such liability is under contract, delict or otherwise.
8.2. A User indemnifies the Company and agrees to keep the Company indemnified, from and against any claim, loss, damage, cost or expense that the Company may suffer or incur as a result of or in connection with a User’s improper use of or conduct in connection with this Website, including any breach by a User of these terms or any applicable law or licensing requirements.
8.3. To the extent that the Company’s liability cannot be excluded by law, the Company’s maximum liability, whether in contract, equity, statute or tort (including negligence), to a User will be limited to the minimum amount imposed by such law.
8.4. Notwithstanding anything to the contrary in these Terms, in no circumstances will the Company be liable for any indirect, punitive or consequential loss or damages, loss of income, profits, goodwill, data, contracts, use of money or any loss or damages arising from or in any way connected to interruption of this Website of any type, whether in delict, contract or otherwise.
9.1. If any provision of these Terms is found to be invalid under any applicable law, such provisions shall be deleted without affecting the remaining provisions herein.
10. VARIATION OF TERMS
10.1. To the extent permitted by law, the Company is permitted to revise these Terms at any time as it sees fit, without prior notice to Users, and any revisions to the Terms will take effect when posted on this Website, unless a later date is stated in the revised Terms. A User’s continued use of this Website will be construed as a User’s consent to the amended or updated Terms, and will be conditional upon the Terms in force at the time of use. A User’s only remedy, should such User not agree to these amended Terms, is to stop the use of this Website.
11.1. The Company is allowed to assign, transfer, and subcontract its rights and/or obligations under these Terms without any notification. However, a User is not not allowed to assign, transfer, or subcontract any of its rights and/or obligations under these Terms.
12. ENTIRE AGREEMENT
12.1. These Terms constitute the entire agreement between the Company and a User in relation to a User’s use of this Website (unless a more specific agreement has been entered into in this regard).
13. GOVERNING LAW AND JURISDICTION
13.1. These Terms will be governed by and interpreted in accordance with the laws of the Republic of South Africa.
14. DOMICILIUM CITANDI ET EXECUTANDI AND CONTACT INFORMATION
14.1. A User and the Company choose as their respective domicilium citandi et executandi for the purpose of legal proceedings and for the purpose of giving or sending any notice provided for or necessary of these Terms, the following:
14.1.1. The Company:
c/o Smiedt & Associates, 1st Floor, 9 Greys Pass, Cape Town, 8000
14.1.2. User: The address as provided when registering on this Website, or if no registration is applicable on the Website, as nominated by the User.
14.2. Both a User and the Company may change its domicilium to any other physical address or email address by written notice to the other to that effect. Such change of address will be effective 7 (seven) days after receipt of notice of change of domicilium.
14.3. All notices to be given in terms of these Terms will:
14.3.1. be given in writing;
14.3.2. be delivered or sent by email; and
14.3.3. be presumed to have been received on the date of delivery.
14.4. Notwithstanding the above, any notice actually received by the other will be deemed to have been properly given and received, notwithstanding that such notice has not been given in accordance with the provisions of this clause.
This website https://www.inospace.com (the Website) is operated by Inospace (Pty) Ltd (“Inospace”).
Personal information means information which identifies you, and includes inter alia information such as your name, email address, telephone number, biometric information, as well as any other personal data collected and shall include any information which you provide to us.
3. HOW YOUR PERSONAL INFORMATION IS COLLECTED
We are committed to informed and limited collection of essential personal information.
3.1 Personal information collected through the use of our Website
Various technologies may be used on our Website in order to improve it, make it more user-friendly, effective and secure. These technologies may lead to personal information being collected automatically by us or by third parties on behalf of us. Examples of such technologies include cookies, flash cookies and web analytics. This technology does not identify you personally; it simply enables us to compile statistics about our visitors and their use of our Website.
This personal information can include the following:
▪ the user’s IP address;
▪ the date and time of the visit;
▪ the referral URL, being the site from which the visitor has come;
▪ the pages visited on our website;
▪ information about the browser used, such as the browser type and version, operating system, and so forth.
3.1.1 What you should know about cookies
Cookies are small text files generated by a website and stored in your web browser.
Cookies by themselves cannot be used to discover your identity nor do they damage your computer. You can set your browser to notify you when you receive a cookie, which enables you to decide whether you would like to accept it or not.
Kindly note that should you choose not to accept cookies from our Website this may limit our Websites functionalities or performance.
3.2 Personal Information provided by you
Certain personal information which has been provided to us by you will also be processed, this includes but is not limited to:
- Your contact information, including your first and last name, address, email address and your telephone number;
- If you have contacted us telephonically or by email, the details of the conversation and the contact history may be recorded;
- Personal information which we reasonably need to perform our duties for purposes of marketing to you, any agreement we may have with you, or to operate your account or any Inospace service that you have signed up, or provide any Inospace product;
- Any personal information which we require to fulfil our regulatory or other business rights and obligations.
3.3 Personal information received from third parties
Inospace may collect personal information about you from third parties such as fraud agencies, or Banks, in order to verify information about you. Collection from third parties will always relate to your existing relationship with us.
4. USE AND ANALYSIS OF YOUR PERSONAL INFORMATION
Inospace will only process your information insofar as it is adequate, relevant and not excessive for the purposes set out below:
- For purposes relating to your agreement or relationship with us;
- To keep you informed generally about new products or services, unless you opt out;
- Bill you according to your agreement with us, or to take the appropriate amount of credit from you;
- To administer this Website and help us improve our products or services;
- Respond to any questions or concerns you may have about using our products or services;
- Carry out research and statistical analysis including to monitor how customers use our products or services on an anonymous or personal basis;
- Prevent and detect fraud or other crimes, recover debts or trace those who owe us money;
- If you contact customer service, we will use your personal information (including your contact history) so that customer service is able to process your request and provide you with the best service possible.
5. SHARING YOUR PERSONAL INFORMATION
It is of utmost importance to Inospace that your personal information is treated with care and confidentiality and therefore Inospace undertakes not to sell your personal information to third parties.
We will however share your personal information with third parties as set out in this policy, if required by law or if you have consented to it. Your personal information shall be shared with the following third parties:
- Any company we use to provide a product or service on our behalf or to provide a product or service to us;
- Any payment system we may use;
- Partners or agents that conduct customer satisfaction surveys and any other surveys related to the products or services provided to you;
- Where applicable, credit reference, fraud prevention or business scoring agencies, or other credit scoring agencies;
- Law enforcement agencies, regulatory organisations, courts or other public authorities if we have to, or are authorised to by law;
- We’ll release information if it’s reasonable for the purpose of protecting us against fraud, defending our rights or property, or to protect the interests of our customers;
- If we go through a corporate re-structure or we are sold to another organisation, we may transfer any personal information we hold about you to that organisation.
6. KEEPING YOUR PERSONAL INFORMATION SECURE
We are committed to implementing leading data security safeguards.
Where we use service providers who are working on behalf of Inospace, these third parties are granted access to the personal information they require in order to carry out the particular service. The service providers are contractually obliged to treat all personal information in the strictest confidence. It is also contractually forbidden for them to use the personal information in any other way than required. The necessary steps are taken to ensure that our service providers protect the confidentiality of your personal information.
We will also share your personal information with employees who need access to it in order to fulfil their employment duties. The same principles that apply to service providers will also apply to employees.
Should you choose to disclose your information on social plug-ins such as Google, Facebook, Twitter and Pinterest or use third-party services that allow you to post reviews or other information publicly, it is imperative to note that such third party could
7. RETENTION OF PERSONAL INFORMATION
Inospace will retain your personal information for no longer than is necessary for the purposes stated in this Policy, unless the retention of your personal information is required or authorised by law or if you have consented to the retention of your personal information.
8. HOW TO UNSUBSCRIBE OR OPT-OUT
If you no longer wish to receive marketing messages from us, please contact our customer services team and you’ll be ‘opted out’.
9. ACCESS AND CORRECTIONS TO PERSONAL INFORMATION
Under the law, you have the right to access, correct, amend, delete your personal information or to object to the processing of your personal information.
Upon receipt of your written request and enough information to permit us to identify your personal information, we will disclose to you the personal information we hold about you.
We will also correct, amend or delete any personal information that you tell us is inaccurate and notify any third party recipients of the necessary changes.
Requests to delete personal information are subject to any applicable legal and ethical reporting or document retention obligations imposed on us.
10. UNAUTHORISED THIRD PARTY ACCESS TO YOUR INFORMATION
Regardless of the security measures Inospace has in place to protect your personal information, such as firewalls and encryption methods, you acknowledge that it may be accessed by an unauthorised third party, for an example as a result of an illegal activity. As such, Inospace cannot be held liable for any access to your personal information by an unauthorised third party.
11. GOVERNING LAW
The laws of South Africa will govern any dispute or claim arising out of or relating to your use of this Website.
Should you believe that Inospace has utilised your personal information contrary to applicable law, you undertake to first attempt to resolve any concerns directly with Inospace.
If you are not satisfied with such process, you have the right to lodge a complaint with the Information Regulator, who is empowered to monitor and enforce compliance by public and private bodies within the provisions of the Promotion of Access to Information Act, 2 of 2000, and the Protection of Personal Information Act, 4 of 2013.