Consulting Consulting
Finance Industry
Finance Industry

Terms and Conditions

Terms and Conditions for the internet service provided by PrepLounge GmbH valid from May 8, 2018.

Welcome to one of the largest Consulting Networks in the world. We are pleased to provide innovative products and services to help (aspiring) Applicants around the globe. By using our internet service of the website www.preplounge.com (“PrepLounge GmbH”), referred to as “Platforms”, you accept all terms of PrepLounge GmbH stipulated hereafter.

Table of Contents

I. General

  1. These Terms and Conditions ("Terms") for the internet service of PrepLounge GmbH govern the conditions under which PrepLounge GmbH provides Users (“User”) with this internet service and accepts a User as a member.
  2. The Terms can be viewed at any time on the personal welcome page. The registration and use of the internet service is only allowed if the User has accepted the Terms

II. Registration and Membership

  1. The User becomes a member of the internet service upon registration.
  2. The User must declare an individual e-mail address and password as well as further data specified in the privacy policy. The e-mail address and password limit the access to the User’s personal profile (see also § 7 below). The User appears with his first name, if applicable with his full name, to third parties on the internet service. PrepLounge GmbH reserves the right to delete information (e-mail address, first name, last name, etc.) and/or to demand their immediate change if they are unlawful, pornographic, racist, misleading or offensive, or violate rights to a name, trademark rights or other rights.
  3. The User is instructed to provide his real name (no pseudonyms or pen names) and e-mail address along with all other personal data provided during the registration – unless they are marked as optional information – truthfully and completely. This will be verified by an activation link, that is sent to the given e-mail address.
  4. The User is obliged to update his name or e-mail address without delay in case of later changes.
  5. PrepLounge GmbH reserves the right to refuse the registration of Users.
  6. The membership can be terminated without notice by both PrepLounge and the User for any reason.
  7. Each User may register only once and create only one User profile. The User profile is intended for personal use by the User only and the login and password may not to be passed on / given to third parties. If PrepLounge GmbH has refused the registration or terminated the membership, a new registration is not permitted.
  8. By registering, the User warrants to be of legal age and legally competent.

III. Platform Offering

  1. PrepLounge GmbH provides the User via the internet service with information, means of communications, entertainment services and other services ("Content"). This content can be content from PrepLounge GmbH or third-party content, to which PrepLounge GmbH provides access. The use of the internet service is partly free. PrepLounge GmbH tries to provide the highest degree of accessibility of the internet service. However, constant accessibility is not guaranteed.
  2. PrepLounge GmbH does not guarantee the completeness of the content and the accuracy and currentness of the information provided via the internet service. Third parties are held accountable for content posted by them. PrepLounge GmbH cannot and will not review the completeness and correctness of their content. PrepLounge GmbH is not liable for any losses or damages caused by the use of this material, unless PrepLounge GmbH is responsible for it. This applies to the content of other internet services, to which PrepLounge GmbH referred to with a link.
  3. PrepLounge GmbH checks the compliance with the terms and the provisions of the law as well as the observance of rights of third parties by constant monitoring of the posted content. If a violation of these provisions comes to the attention of PrepLounge GmbH, the relevant content will be changed or removed immediately. However, PrepLounge GmbH is unable to entirely contain the dissemination of behavior, communication or content that violate the Terms or the legal requirements.
  4. PrepLounge GmbH is not liable for goods and/or services offered by third parties to the Users of the internet service. PrepLounge GmbH does not control any of the consequential business dealings, that take place. These deals are only made between third parties (providers) and the User. All claims arising from such transactions are therefore directed exclusively against the provider.
  5. PrepLounge GmbH reserves the right to make restrictions, changes and to cease the provision of the internet service for any reason without notifying the User.
  6. PrepLounge refers highly qualified candidates (“Applicant”) to interested employers (“Employer”) via the Platforms according to § 9, provided the Applicant has given his consent. New Employers will be acquired as partners to this end.

IV. Implementation of Content by the User

  1. By posting any content on the internet service, the User grants PrepLounge GmbH an unrestricted and transferable right of use on the respective content. PrepLounge GmbH is entitled to use the content worldwide, especially for long-term provision, publication on the Internet and other online networks, including websites of partners, and commercialization of these services. PrepLounge GmbH is also entitled to transfer the content to data storage mediums as well market it on print and online publications.
  2. PrepLounge GmbH also has the right to edit, shorten or delete the submitted content. PrepLounge GmbH is particularly entitled to remove content that violates the Terms, the statutory provisions or good taste. A right for the User of publication or permanent storage of content does not exist.
  3. The User guarantees with the implementation and distribution of content, which is subject to property rights (e.g. copyrights), that the holder of the rights has granted him all necessary rights or that he is the owner of these rights. The User is obliged not to violate property rights of PrepLounge GmbH or of third parties.
  4. The User agrees not to make content available and accessible through links or other ways that are illegal, racist, libelous, unconstitutional, obscene, abusive, pornographic or offensive or may be viewed as such.
  5. According to Section 5 - Copyright Service Provider Act (UrhDaG): the public reproduction of copyrighted works and parts of works by the user of a service provider is permitted for the following purposes: 5.1 for quotations according to Section 51 of the Copyright Act, 5.2 for caricatures, parodies and pastiches according to Section 51a of the Copyright Act and 5.3 for legally permitted cases of public reproduction according to Part 1 Section 6 of the Copyright Act not covered by points 5.1 and 5.2. 

V. Indemnification by Users

  1. The User will without prejudice to any further claims and rights indemnify PrepLounge GmbH of all claims made by third parties against PrepLounge GmbH, including the costs of any reasonable legal defense and other reasonable costs, for any infringement of their rights by content posted by the User on the internet service. The indemnification covers particularly injunctive reliefs and removal claims, claims for damages, reimbursement of expenses and unjust enrichment.
  2. If third parties make claims within the meaning of § 5 paragraph 1 above against PrepLounge GmbH, PrepLounge GmbH is obliged to inform the User immediately. The User can represent and defend his rights himself and lead the lawsuit himself. A User can accept a settlement that is reached without his consent only so far as the closed claims are justified by comparing evidence.
  3. The indemnification shall not apply if the User is not responsible for the infringement.
  4. The indemnification shall also be entitled to the employees, representatives and vicarious agents of PrepLounge GmbH if such claims are asserted against them.

VI. Contract Period, Termination of the Contract, Redemption of Advance Payments

  1. The User can terminate the membership without notice for any reason. The termination can be made at any time by sending an email to contact@preplounge.com or contact@consultingheads.com respectively from the e-mail address registered on the platforms. The registered e-mail address of the User must be specified in the termination.
  2. PrepLounge GmbH can terminate the membership when there is good cause. Good cause is established when the continuation of the contractual relationship until the end of the membership is not reasonable for PrepLounge GmbH, considering all circumstances of the case and weighing the interests of PrepLounge GmbH and the User. Good causes include the following:
    • Non-compliance with legal prescriptions by the User,
    • Breaches by the User of contractual obligations.
    • If the reputation of the services offered by PrepLounge GmbH would be compromised by the presence of the User (for example, if it is discovered, after registration, that the User has been found guilty of a criminal act and that this judgment is known to other Users);
    • If the User promotes associations or collectives, or their methods and activities, that are being monitored by the security or youth protection authorities or
    • if the User causes damage to one or more other Users or
    • if the User is a member of a sect or other disputed religious communities.
  3. In the event of good cause in accordance with section 2. and notwithstanding PrepLounge GmbH's right to terminate the contract in accordance with section 2, PrepLounge GmbH is entitled to:
    • Delete the contents posted by the User;
    • Issue a warning, or;
    • Block the User's access to the services on the platforms.
  4. The claim of the User on refund of already made advance payments is ruled out in the following cases:
    • PrepLounge GmbH has terminated the contract for good cause according to section 2.
    • PrepLounge GmbH has blocked the User's access according to section 3 or
    • if the User has terminated the contract; the refund claim on payments made in advance is however not ruled out if the User terminates the agreement due to good cause for which PrepLounge GmbH is responsible.

VII. Non-Disclosure of the Access Information by the User and Liability for Third Party Use

  1. The User must keep his password secret.
  2. PrepLounge GmbH points out that a third party who correctly enters the login (e-mail address) and password of a User will have full access to the internet service under the identity of a User. They would have access to personal data and could use it for abuse. The password should be well-chosen and changed from time to time (we recommend regular intervals of 3 months). The password should consist of a minimum of 8 characters and in addition to uppercase and lowercase letters it should also contain numbers and special characters. Inputs such as the date of birth and words that can be found in the dictionary are particularly considered as unsafe.
  3. The User is obligated to inform PrepLounge GmbH without delay on any abusive use of his password or User account and on each separate infringement of safety regulations (for example at loss of login and password). The User acknowledges that the login can only be blocked once these facts are brought to the attention of PrepLounge GmbH.
  4. The User shall be liable for all damages resulting from unauthorized use of the internet service with his password by third parties, unless PrepLounge GmbH is responsible for such damages. He is liable for all claims of any sort resulting from activities that were carried out under his login and password prior to the termination of his membership or blocking of his login, unless PrepLounge GmbH was at fault.

VIII. Other Obligations of the User

  1. The User is obligated to meet the Terms without restrictions at all times as well as to observe the rights of third parties and legal requirements during all activities while using the internet service.
  2. The use of the internet service for commercial purposes is not permitted unless it is granted by PrepLounge GmbH with a written permission. This restriction does not apply to areas of the offer, which explicitly allow and/or need a commercial use.
  3. The User commits himself that he does not manipulate the internet service itself or content, that is made accessible via the internet service. He also commits himself to refrain from any behavior that interferes with the use of the internet service by other people.
  4. PrepLounge GmbH reserves the right, without prejudice to other rights, to assert claims for damages and reimbursement of expenses, including loss of profit and the cost of removing the manipulation or other violations, if violation of the Terms as manipulation of the internet service or unauthorized commercial use occurs. If commercial use occurs, the User is required to pay a reasonable standard fee.

IX. Recruiting Service

  1. Service description
    1. Recruiting Service on the platforms: The Applicant engages PrepLounge GmbH for the placement of a full-time or a temporary position e.g. freelance project (“Service”). PrepLounge GmbH solely relies on Employers acquired as partners for the said Service. Resorting to third parties or employers beyond the current Employer base for placement of positions is not guaranteed.
    2. Registration information: In order to use the Service, the Applicant has to register on the Site by providing the required personal information. The provided information needs to be accurate and comprehensive to enable a targeted recommendation of positions.
    3. Identification of positions: PrepLounge GmbH uses the information provided by the Applicant in order to propose relevant positions out of those provided by Employers. The selection is made at the sole discretion of PrepLounge GmbH.
    4. Indicating interest: The identified positions will be recommended both on the Site and via e-mail notification. These notifications can be deactivated on the settings section of the Site. If the Applicant is interested in one or more positions, he/she can indicate this accordingly on the Site or in a personal conversation.
    5. Confidentiality: Subsequently, PrepLounge GmbH will only forward the completely anonymized information of the Applicant, where appropriate, at this point. Available anonymized reviews or references could also be included, if the Applicant has successfully used our services in the past.
    6. Making contact: If the Employer is interested in the profile of the Applicant, PrepLounge GmbH will enable the Employer to establish contact. To this end, the contact details provided by the Applicant will be forwarded to the Employer. PrepLounge GmbH only uses personal data that is treated in accordance with the Privacy Policy.
    7. Compensation for the service: The aforementioned Service is delivered free of charge for the Applicant, unless indicated otherwise.
  2. Cooperation duties

    The satisfaction of the Applicant, but also that of the Employer is very important to PrepLounge GmbH. In order to ensure this, it is necessary that the Applicant observes the following cooperation duties. The Applicant therefore assures that:

    • he/she has completed the registration in his/her own name,
    • he/she has provided all relevant information, particularly qualifications, work experience, and legal restrictions (particularly professional practice restrictions) with regards to the desired position,
    • he/she has truthfully provided information to best of his/her knowledge and belief,
    • he/she will immediately report changes made to the provided information that are relevant for the placement of a position to PrepLounge GmbH,
    • he/she will deliver the services agreed upon with the Employer to the best of his/her knowledge and abilities and that
    • neither a conflict of interest nor a non-compete obligation of any kind exists; this applies to both full-time and temporary freelance positions at an Employer.
  3. Notification duties
    1. Notification of a Target Contract: The Applicant shall inform PrepLounge GmbH, if Recruiting Services are availed of, when a contract of employment or any kind of advisory agreement (collectively “Target Contract”) is concluded. The notification shall contain the exact duration of the Target Contract and the fully agreed upon remuneration including variable salary components and other bonuses. The Applicant has to carry out this obligation personally; a notification solely on the part of the Employer will not suffice.
    2. Post-contractual notifications: Moreover, the Applicant is obligated to inform PrepLounge GmbH about the Conclusion of a Target Contract for up to 12 Months after contract termination; the above § 9.3.1 sentence 2 shall apply.
  4. Permission to disclose personal data and data protection
    1. Personal data: PrepLounge GmbH will save, process, and make use of the Applicant’s personal information only in respect of the contractual services. In this context, the Privacy Policy which can be found on the platforms and should also be taken note of. If data is consented to be shared with third parties, PrepLounge GmbH will require that such third parties handle the data in accordance with legal data protection regulations i.e. the General Data Protection Regulation (GDPR).
    2. Consent to the disclosure of personal data: The Applicant explicitly agrees to the disclosure of the following personal data:
      • The disclosure of information given to PrepLounge GmbH during the registration to an Employer, provided the Applicant has indicated interest in the position and the Employer has indicated interest in the profile of the Applicant. Data will not be collected from or forwarded to third parties.
      • The disclosure of reviews to the Employer. PrepLounge GmbH will provide said reviews on the Site in the restricted login area of the Applicant beforehand.
      • The disclosure of the aforementioned information to an affiliated company of the Employer according to § 15 of the German Stock Corporation Act (Aktiengesetz) that is looking for an Applicant. This also applies when there is no shared HR department between the affiliated companies.
    3. Supplementary data: Changes made to personal information by the Applicant after the Placement Agreement had been concluded will also be treated according to § 9.2. PrepLounge GmbH will use the supplementary data to update personal information.
    4. Consent to the compilation of user statistics: The Applicant agrees to PrepLounge GmbH compiling and saving personal statistics particularly with regard to the usage of the Site. These statistics will be solely used for the purpose of providing the Applicant with relevant offers and improving the user experience. In case of a transfer of contract, this data can be transferred to a subsidiary. This data will not be transferred beyond this scope without the express consent of the Applicant.
    5. Revocation/restriction of consent: The Applicant can revoke the consent issued according to § 9.4 of the Terms at any time without given reason. The Applicant can prohibit PrepLounge GmbH from disclosing personal information to any one specific (potential) Employer by a simple notification at any time.
    6. Other restrictions: Furthermore, personal data will only be collected, processed, and used with the express consent of the Applicant. In particular, personal data will not be forwarded to Employers outside of the EU/EEA without the express consent of the Applicant.

X. Privacy Policy

  1. The sensitive and responsible management of the personal data of all its members is a matter of extreme importance to PrepLounge GmbH. PrepLounge GmbH complies with all relevant legal data protection regulations such as the German data protection laws and European data protection directives according to the General Data Protection Regulation (GDPR). The type and extent of the processing of personal data are regulated by the privacy policy.
  2. Prior to the use of PrepLounge GmbH the User is requested to attend to the nature and extent of the processing of personal data according to the privacy policy, and to approve the use, as far as it is necessary.
  3. The User has the right to revoke his consent to the use of his personal data without notice for any reason, without incurring other costs than the pure cost of transmission.
  4. The User has access to the privacy policy from every site at any time.

XI. Liability of PrepLounge GmbH

  1. PrepLounge GmbH only assumes liability under existing laws, regardless of the legal basis (prior to the contract, contractual, non-contractual) only if the damage was caused by gross negligence or willful intent on the part of PrepLounge GmbH. If PrepLounge GmbH should provide services available for a fee, it is also liable for ordinary negligence in the case of a breach of fundamental contractual obligations. The aforementioned limitations of liability do not apply to damages to life, body and health. The regulations of the product liability law remain unaffected. Furthermore, all liability is excluded.
  2. Except for all cases required by law neither PrepLounge GmbH nor affiliated companies of PrepLounge GmbH are liable for damages that may arise from the use of the content or other types of use of the internet service. This also applies to damage caused by errors and/or problems with internet services, viruses or data loss. § 10 No. 1 shall apply mutatis mutandis.
  3. Except for willful intent and gross negligence, PrepLounge GmbH is only liable up to the amount of the typically foreseeable damages at the time of entering into the contract.

XII. Changes to Terms

  1. PrepLounge GmbH reserves the right to change the Terms in whole or in part at its discretion. Any changes or amendments shall be communicated to the users by e-mail 4 weeks before they come into effect at the latest and will also be announced on the user's personal homepage of the internet service and via the internal mail service.
  2. The user has the right to object to the change of the Terms in written form. The changes become valid, if the user does not object to such changes in writing within 4 weeks from the publishing of the changes or if the user continues the use of the services. PrepLounge GmbH will point out in the message about the changes to the Terms to the User of the 4-week period to object and the consequences of non-objection. If a User objects to the amended Terms, PrepLounge GmbH will terminate the membership of said User.

XIII. Other Provisions

  1. PrepLounge GmbH is entitled to transfer the rights and obligations arising out of the treaty to third parties. In this case, the user has the option to terminate the membership without notice.
  2. All legal relations arising from the Terms for the parties and/or its legal successor are subject to the laws of the Federal Republic of Germany excluding the applicability of the UN Convention on Contracts for the International Sale of Goods.
  3. Should a provision of the Terms be or become invalid or unenforceable in whole or in part, or should the contract contain a loophole, the validity or enforceability of the remaining provisions shall not be in any way affected or impaired thereby.
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