Terms of Service
Last Updated: 20.12.2024
Introduction
Löytöi is an online platform operated by Löytöi ("we," "us," "our"), providing a professional endorsement service that connects companies with hiring needs to qualified recruitment professionals and other experts who can recommend suitable candidates. The platform focuses on facilitating high-quality endorsements primarily in the Nordic region, helping companies find exceptional talent through trusted professional networks.
These Terms of Service ("Terms") govern your relationship with Löytöi regarding your use of our website and any related services (collectively, the "Services"). These Services may be delivered through our website, web and mobile applications (when available), or through other means of communication and service delivery as deemed appropriate by Löytöi. The words "you" and "your" refer to each customer or user of the Services, whether you are a Company posting positions, an Endorser recommending candidates, or any other user of our platform.
These Terms of Service ("Terms") govern your relationship with Löytöi regarding your use of our website and any related services (collectively, the "Services"). These Services may be delivered through our website, web and mobile applications (when available), or through other means of communication and service delivery as deemed appropriate by Löytöi. The words "you" and "your" refer to each customer or user of the Services, whether you are a Company posting positions, an Endorser recommending candidates, or any other user of our platform.
These Terms affect your legal rights and obligations. If you do not agree to these Terms, please do not use the Services.
Eligibility and Age Requirements
The Services are intended for individuals who are at least 18 years old. If you are under 18 or considered a minor under applicable laws, you are not eligible to use the Services. Only legally competent natural persons and properly registered business entities may use the Services.
Service Overview and Core Functions
Platform Purpose
Our platform enables two primary types of users to interact:
Companies can post job opportunities with associated Success Bonuses, receive endorsed candidates, and manage their hiring process through our platform. When posting positions, companies can specify their requirements, set appropriate Success Bonuses, and review endorsed candidates.
Endorsers, who are typically recruitment professionals or industry experts, can review available positions, recommend qualified candidates from their professional networks, and earn Success Bonuses for successful placements. Endorsers must ensure they have the candidate's consent before making any endorsements.
How Does the Service Work
When you use our platform as a Company, you can:
Post job opportunities with clear requirements and associated Success Bonuses
Review endorsed candidates with detailed professional context
Communicate with Endorsers through our platform
Manage the hiring process and Success Bonus payments
When you use our platform as an Endorser, you can:
Review available positions and their associated Success Bonuses
Submit candidate endorsements with professional context
Track the status of your endorsements
Receive Success Bonuses for successful placements
User Accounts and Security
Account Creation and Management
To use our Services, you must create an account by providing accurate and complete information about yourself or your organization. You are responsible for maintaining the confidentiality of your account credentials and for all activities that occur under your account.
You agree to:
Provide accurate and current information during registration
Update your information promptly if any changes occur
Keep your password secure and confidential
Notify us immediately of any unauthorized use of your account
Accept responsibility for all activities that occur under your account
Account Security
We implement industry-standard security measures to protect your account and data. However, we cannot guarantee absolute security of your account. If you suspect any unauthorized access or security breach, you must contact us immediately at info@loytoi.com.
Professional Standards and Platform Rules
Standards for Companies
As a Company using our platform, you commit to:
Post only genuine job opportunities with accurate descriptions and requirements. Your postings must reflect real hiring needs and include all relevant information potential candidates would need to assess their suitability.
Process all endorsed candidates fairly and professionally, providing timely feedback and maintaining professional communication standards. You must respect candidate confidentiality and handle personal information in accordance with applicable data protection laws.
Honor your Success Bonus commitments for successful hires. Once you've posted a position with an associated Success Bonus, you agree to pay this fee if you hire an endorsed candidate through our platform, subject to our payment terms and guarantee period conditions.
Service Delivery Methods
Our Services may be delivered through various channels and methods, including but not limited to:
Direct form submissions through our website
Email communications
Our platform interface (when available)
Other communication methods as deemed appropriate
While we are developing our full platform capabilities, some services may be delivered through manual processing and direct communications. This does not affect the validity or applicability of these Terms to the Services provided.
Standards for Endorsers
As an Endorser using our platform, you commit to:
Only recommend candidates you know professionally or have properly vetted. You must have the candidate's explicit consent before making any endorsements and ensure all provided information is accurate and current.
Maintain high professional standards in your endorsements. This includes providing detailed, accurate context about the candidate's experience, skills, and suitability for the role, based on your professional knowledge or direct experience with the candidate.
Respect candidate privacy and confidentiality. You must handle all candidate information in compliance with applicable data protection laws and professional ethics.
Endorsement Rights and Candidate Management
Endorsement Rights
When an Endorser submits a candidate for consideration, the following rules apply:
First Endorsement Rights: The first Endorser to submit a candidate for a specific position has priority rights for that candidate-position combination, provided that:
The candidate has not already been submitted by another Endorser
The candidate is not already in process with the Company
The candidate has given consent for the submission
The endorsement meets our quality standards
Candidate Ownership Period: An Endorser's rights to a candidate for a specific position remain valid for 6 months from the date of endorsement, unless:
The candidate is hired for the position
The position is closed
The candidate explicitly withdraws from consideration
The Endorser withdraws the endorsement
Multiple Endorsements
In cases where multiple Endorsers submit the same candidate:
The timestamp of submission determines priority
Only the first valid endorsement will be eligible for the Success Bonus
Subsequent Endorsers will be notified that the candidate has already been submitted
Cross-Position Endorsements
Löytöi reserves the right to:
Suggest endorsed candidates for other suitable positions
Match candidates with different opportunities within our network
Facilitate optimal placement of candidates
In such cases:
The original Endorser maintains rights to the Success Bonus for their original submission, as well as any submission by Löytöi within the Candidate Ownership Period
New endorsements may be accepted for different positions
Clear communication will be maintained with all parties
Success Bonuses and Platform Fees
Fee Structure
Our platform operates on a success-based model with the following fee structure:
Standard Positions:
Companies set the Success Bonus amount
Platform fee is 10% of the Success Bonus
Endorser receives 90% of the Success Bonus
Exclusive Positions:
Companies set the Success Bonus amount
Companies commit to exclusive posting on Löytöi
Reduced platform fee of 5%
Endorser receives 95% of the Success Bonus
Payment Terms and Conditions
Success Bonus Structure
Success Bonuses are set by Companies when posting positions and are clearly displayed on each job posting. The structure works as follows:
Companies set the Success Bonus amount when posting a position
The platform fee is calculated as a percentage of the Success Bonus
The remaining amount is paid to the successful Endorser
All fees are processed through our secure payment system
Payment Conditions
Success Bonuses are paid when all the following conditions are met:
The endorsed candidate accepts the employment offer
The candidate starts employment with the Company
The candidate successfully completes the guarantee period
All required documentation is properly submitted
Our standard guarantee period is 30 days from the candidate's start date, unless otherwise specified in the job posting. During this period, if the candidate leaves the position or the employment is terminated for any reason, the Success Bonus payment is simply cancelled.
Payment Process
We support multiple payment methods and handle all payment processing through our secure platform. All fees are processed in accordance with local tax regulations and banking requirements. Detailed payment procedures and requirements are provided when you register on our platform.
Intellectual Property Rights
Platform Content and Rights
Löytöi owns all rights, title, and interest in the platform, including all associated intellectual property rights. This includes our website design, functionality, features, and proprietary content. We grant you a limited, non-exclusive license to use our platform in accordance with these Terms.
User Content
When you submit content to our platform (such as job postings, endorsements, or company information), you retain your rights to this content. However, you grant us a worldwide, non-exclusive, royalty-free license to use, modify, reproduce, and distribute this content as necessary to provide our Services.
Privacy and Data Protection
Data Processing
We process personal data in accordance with our Privacy Policy and applicable data protection laws, including the EU General Data Protection Regulation (GDPR). Our privacy practices are detailed in our Privacy Policy, which forms an integral part of these Terms.
Data Security
We implement appropriate technical and organizational measures to protect your data. However, no internet-based service can guarantee absolute security, and you acknowledge this inherent risk when using our Services.
Limitation of Liability
Platform Liability
The Services are provided "as is" and "as available." While we strive to maintain high-quality services, we cannot guarantee:
Uninterrupted service availability
Specific hiring outcomes
Accuracy of all platform content
Success of endorsed candidates
We are not liable for any indirect, incidental, special, consequential, or punitive damages arising from your use of our Services.
User Liability
You agree to indemnify and hold us harmless from any claims arising from:
Your violation of these Terms
Your misuse of the Services
Your violation of any applicable laws
Content you submit to the platform
Term and Termination
Service Duration
These Terms remain in effect while you use our Services. The agreement continues until terminated by either party according to the terms below.
Termination by Users
Companies and Endorsers may terminate their use of the Services at any time by:
Submitting written notice to info@loytoi.com
Providing at least thirty (30) days notice before the end of the current period
Completing any ongoing processes or active endorsements
Upon termination:
Companies must honor all Success Bonuses for endorsements made prior to termination
Endorsers must complete any active candidate processes in good faith
No refunds will be issued for any fees already paid
Users retain access to complete active processes during the notice period
Termination by Löytöi
We reserve the right to suspend or terminate accounts immediately if users:
Violate these Terms
Engage in fraudulent activity
Misuse the Services
Fail to pay required fees
Provide false or misleading information
Breach applicable laws or regulations
Effects of Termination
Upon termination or expiration:
Access to the Services will cease
All outstanding fees become immediately due
Confidentiality obligations remain in effect
Active endorsements will be processed to completion
Users must cease using all platform materials
The following provisions survive termination:
Payment obligations for completed endorsements
Confidentiality requirements
Intellectual property rights
Liability limitations
Dispute resolution terms
Inactive Accounts
For security and data protection reasons, we may deactivate accounts that have been inactive for 24 months or more. We will provide notice before such deactivation.
Changes to Terms
We may modify these Terms at any time by posting updated Terms on our platform. We will notify users of significant changes 30 days in advance. Continued use of our Services after such changes constitutes acceptance of the modified Terms.
Governing Law and Disputes
These Terms are governed by Finnish law. Any disputes shall be resolved in the District Court of Turku, Finland, unless otherwise required by mandatory consumer protection laws.
Contact Information
For questions about these Terms or our Services:
Email: info@loytoi.com
Address: Kommonkatu 8, 20900 Turku, Finland
Website: https://loytoi.com
Language
These Terms are provided in English only.
By using the Löytöi platform, you acknowledge that you have read, understood, and agree to be bound by these Terms of Service.