Terms and conditions

Please read our Terms and Conditions below. If you have any further questions please contact us at fiverchallenge@y-e.org.uk

Fiver Challenge 2016 Terms and Conditions

In these terms and conditions “YE”, “We”, “Us” or “Our” means Young Enterprise (registered company number 712660; registered charity number 313697) and “You”, “Your”, or the “Organisation” means the primary school, charity or youth club that participates in Fiver Challenge 2016 (also referred to as the “Challenge”). “Participant” means any child who partakes in the Challenge and at the end of the Challenge, You may arrange for one or more of your Participants to enter the “National Competition” in which winners will be announced and awards will be given out. “Virgin Money” means Virgin Money plc (registered company number: 6952311; Financial Services Register number: 503963), who is working in partnership with Us in delivering the Fiver Challenge.  

Entry to the Challenge must be through the official application form process only. The application process is in two stages. Stage one: Register online at: www.fiverchallenge.org.uk. Stage two: Complete and sign the payment form and return it to the Fiver Challenge team via email: fiverchallenge@y-e.org.uk or post to: Fiver Challenge, Young Enterprise, Yeoman House, Sekforde Street, London, EC1R 0HF.

The Challenge bank has limited funds of £200,000; once those funds have been allocated or advanced to Participants, We will not accept further entries to the Challenge.

The Challenge is open to all Organisations that are dedicated to young people aged 5 – 11 years (for example, Brownie Guides or Cub Scouts) within the UK (including Channel Islands & Isle of Man), but Our employees and their families, the employees and families of those on the Fiver Working Group from Virgin Money or anyone professionally associated with the Competition and their direct family members are not permitted to enter. 

1.            The Challenge

1.1              We will pledge to You £5 (five pounds sterling) per Participant up to a limit of £250 (the total funds advanced are referred to as “the Funds” in these terms and conditions). You may apply to Us for extended funds where they require more funding as a result of the number of Participants in your Organisation. We will have complete discretion as to whether to grant extended funds and Our decision is final. 

1.2              Participants may work in groups (a “Team”) or individually. It is for You and the Participants to determine the amount of Funds to be allocated to a Team (up to a maximum of £5 per Participant).

1.3              Participants are challenged to make as much profit as possible and engage with their local community through enterprising activities between 6 June and 01 July 2016 (inclusive). All enterprising activities must be specifically created for the Challenge and cannot comprise of the same activity being used in another of Our programmes, e.g. Company/Team Programme; Tenner Challenge.

1.4              Any business which involves gambling, fraud or illegal activities is not permitted.

1.5              We may disqualify You and/or the Participants from the Challenge if We have reasonable grounds to suspect that You and/or the Participant(s) are in breach of these terms and conditions or Your or a Participant’s participation in the Challenge involved gambling, was fraudulent, or otherwise unlawful.

1.6              Each Participant or Team will need to complete a logbook documenting their business activities, progress, turnover and profit and You will need to upload the Participant or Team logbooks on to Our online portal. This will form the basis of entries and will be judged in the National Competition. Therefore, You should encourage Participants and Teams to provide as much detail as possible. You will be able to upload photographs to support their logbook.  You shall ensure that each Participant has photo consent before uploading any photographs.  We will not be responsible for any photographs uploaded without the appropriate consents.

1.7              We will advance the Funds only to your Organisation’s bank account. You shall only use the Funds for the purpose of the Challenge. You will return any Funds that are not advanced to Participants for the purposes of the Challenge within 31 days of receipt.

1.8              You shall be responsible for distribution of the Funds to the Participants and all supervision of the activities of the Participant in relation to the
Challenge. You shall not distribute any Funds prior to 6 June 2016.

1.9              The Participants must pledge to return the original £5 on completion of the Challenge, or in the event that the Participant does not make a profit, to return at least £3 (“the Pledge”). If the Participant makes a profit the Participant may donate a further 50p per £5 pledged (“the Legacy Donation”) to sustain the Fiver Challenge bank.

1.10          You shall collect the Pledge and any Legacy Donation from all Participants on completion of the Challenge. You shall pay all monies received from all Participants to Us by 31 July 2016 by electronic payment. Our bank details will be provided when the Funds are initially advanced to You. Payment by cheque is also accepted in the event that You are unable to make an electronic payment. Cheques should be made payable to “Young Enterprise”.

1.11          Any profit that is made by the Participant (defined as in excess of £5.00) may be retained by the Participant (subject to clause 1.9).

2              The National Competition

2.1              The National Competition is divided into two age categories:

2.1.1    Participants aged 5-8 years; and

2.1.2    Participants aged 9-11 years.

2.2              Once Participants have completed the Challenge, You shall select the top three overall Participants or Teams from your Organisation for submission to the National Competition. It is for You to determine the criteria for selecting Participants but only Participants or Teams who have submitted their completed logbook and for whom You have completed pre and post Challenge evaluations through Our online portal by 6 July 2016 will be eligible for entry into the National Competition.

2.3              In the interests of sustaining the Challenge bank, We would like each Organisation to repay at least 60% of the advanced Funds. We have complete discretion over entries to the National Competition and may deny entry to Participants from an Organisation which is unable to repay at least 60% (for which any and all Legacy Donations shall be counted). Our decision as to whether to allow entry to Participants from an Organisation unable to repay 60% shall be final. 

2.4              The closing date for the National Competition entries is 6 July 2016. All entries must be received by 17.00 (BST). We do not accept responsibility for lost, delayed, corrupted or invalid entries.

2.5              No detail in any entry may be changed in any way once it has been submitted, except for a change of contact details.

2.6              All enterprising activities undertaken by Participants in order to compete in the National Competition must have taken place between 6 June and 01 July 2015. All money earned by Participants as part of the Challenge must have been received by Participants by 01 July 2016. Any activity undertaken and any payment received before 00:00 on 6 June 2015 and after 00:01 on 01 July 2016 will not be considered by the judges when judging entries.

2.7              There will be 6 awards under the following headings:

Participant/Team with the highest profit 5-8 years;
Participant/Team with the highest profit 9-11 years;
Most innovative Participant 9-11 years;
Best overall Team 5-8 years;
Best overall Team 9-11 years; and
Participant/Team with the best community engagement 9-11 years

and one winner will be selected for each award.

2.8              The Participants/Teams will be shortlisted from all entries by Our Fiver Project Manager. The final 10 entries will be judged by an external panel of independent judges. The judges will assess innovation, flair, creativity and enthusiasm when judging entries. Full judging criteria can be found in the Fiver Challenge National Competition Guidance to be found in Your unique area of Our website. The judges’ decision is final. No correspondence between judges and Organisations, Participants or Teams will be entered into.

3              Prize and winner announcement

3.1              Each winner will receive a trophy and a trip to London to attend an award ceremony.  The trip and award ceremony will be for 1 day and will take place in September 2016. We will inform You if You have any successful Participants by the end of July 2016. For winners within the 5-8 years category, a maximum of sixteen (16) Participants from a winning Team may attend, plus four (4) representatives from the Organisation that the winning Team represents. For winners within the 9-11 years category, a maximum of seventeen (17) Participants from any winning Team may attend, plus three (3) representatives from the Organisation that the winning Team represents. It shall be Your and the winning Participants’ responsibility to select who shall attend from a winning Team. Individual winners may bring a parent/carer or a representative from the Organisation. YE shall only be responsible for reasonable travel costs which will be reimbursed by YE, subject to proof of purchase. We will advertise full details as soon as possible. No cash alternative will be offered and the prize is non-transferable and non-exchangeable.  The prize is subject to change at Our discretion.

3.2              If any individual Participant winner or all Participants within a winning Team cannot attend, the award will be sent to the winner within eight weeks of the final judging taking place to an address which has been notified to Us. Alternatively, you can choose for one of Our or Virgin Money’s representatives to visit your Organisation to present the award to any winner who is unable to attend the award ceremony.

4              Winner publicity

4.1              You accept that, if one of Your Participants wins an award:

We will have the right, without additional payment or permission, to use the name, address and other details of your Organisation and also the name, age, and town of residence of the winning Participant(s) for the purposes of announcing the winner of this National Competition and for related promotional purposes; and
Virgin Money will have the right, without additional payment or permission, to use the name, address and other details of your Organisation, and (providing that photo consent forms have been completed) photographs of the Organisation and Participants, for the purposes of announcing the winner of this National Competition and for promotional purposes.

4.2              You shall obtain the consent of the parent or guardian of the Participant to use the details of the Participant on the basis stated in clause 4.1 and shall provide copies to Us upon request. 

5              Ownership of entries

5.1              Participants shall own the copyright and intellectual property rights in their entries, but in entering the National Competition, You shall procure that each Participant agrees to grant YE a non-exclusive, perpetual, royalty free, irrevocable and worldwide licence to exploit those rights and that each Participant waives all moral rights.

5.2              Any copyright, other intellectual property rights or other rights in any photographs (images and movie clips) created for the purposes of the National Competition shall become Our sole and exclusive property and You shall procure by way of present assignment of future copyright with full title guarantee all such rights to Us to hold absolutely throughout the world during the full period of copyright and all possible renewals, reversions, extensions and revivals thereof and thereafter (insofar as may be or become possible) in perpetuity. You shall, to the full extent permissible by applicable laws, procure waivers of moral rights in any photographs (images and movie clips) created for the purposes of the National Competition.

6              Data privacy

6.1              On registration You will need to provide details including the name and postcode of your Organisation and the name, telephone number and email address of the person supervising the Participants at the Organisation. 

6.2              During the Challenge You will also need to provide the name and age of each Participant from your Organisation.

6.3              The information you supply to us may be used in a number of ways, including:

to process your registration to participate in the Fiver Challenge;
to verify your identity;
to support your participation in the Fiver Challenge;
for promoting the Fiver Challenge;
for collection of the funds provided to you;
for audit purposes, research and statistical analysis;
to identify other schemes which might be of interest to you (with your consent); and
to prevent fraud and money laundering.

6.4              For more details on how we use the information collected please see Our Privacy Policy to be found on Our website at www.fiverchallenge.org.uk. YE will comply with all data protection legislation in force during the Challenge and National Competition, including the Data Protection Act 1998.

6.5              Unless a School has opted out at the point of registration, YE will keep the Organisation informed of YE’s similar products, services and other schemes such as Virgin Money’s Make £5 Grow scheme, by email, post and/or telephone.

6.6              We will not pass Your contact details to third parties for marketing purposes, but we may from time to time send communications to You on behalf of carefully screened companies whose products We believe may be of interest to You, including Virgin Money’s educational programme, Make £5 Grow. However, if You do not want to receive communications from us on behalf of third parties, please opt out at the point of registration.  You can also opt out at any time by email to fiverchallenge@y-e.org.uk, or by writing to Us at the following address: Fiver Challenge, Young Enterprise, Yeoman House, Sekforde Street, London, EC1R 0HF.

7              General

7.1              To the fullest extent permitted by law, We or Virgin Money shall not be liable to You for any costs, expenses, loss or damage (whether direct, indirect or consequential, and whether economic or other) arising from entry in the Challenge or National Competition, or any prize or award, or any damage to any Participant or computer or any other equipment used to upload or download material relating to this Challenge or National Competition.

7.2              Nothing in these terms and conditions shall have the effect of excluding or limiting any liability for death or personal injury caused by negligence or for fraud or to restrict or exclude any other liability which cannot be so restricted or excluded in law.

7.3              Participants may benefit from Our public and product liability insurance. Please ensure you are familiar with these provisions which are detailed below and available to You on the website. If the insurance provider refuses for any reason to provide insurance benefit to You or the Participant, We shall not be liable to provide to You or the Participant any replacement benefit of the same or similar kind or to pay any compensation in lieu.

7.4              You shall be responsible for the health and safety of all Participants and compliance with all relevant legal requirements.

7.5              We do not accept any responsibility for failure on the part of any telecommunications operator, or any interruption in or cessation of Your or the Participant’s ability to gain access to the website, or any network congestion, technical failure or other problem in any telephone line, internet connection, network, system, provider or otherwise which results in any entry not being correctly received.

7.6              We may cancel or suspend the Challenge or National Competition for any reason beyond Our reasonable control with immediate effect by notice in writing (including email). We may amend these rules without notice, by posting changes to them on the website www.fiverchallenge.org.uk.



Insurance cover

Fiver Challenge trading is covered by a Young Enterprise insurance policy. The following notes are about this policy and are for general guidance only, they are not an exhaustive summary of the policy. Organisations should make sure that their Participants are either trading within this guidance or if not that the Organisations insurance policy covers the Participants’ planned activities.  Any questions about insurance not covered here should be submitted to:  fiverchallenge@y-e.org.uk

Products and Public Liability (Including Prohibited Products)

Young Enterprise has effected Products and Public Liability Insurance, under which there is an indemnity up to £10,000,000 to cover the legal liability in respect of accidental death, illness or disease, bodily injury, or loss of or damage to, material property not belonging to or held on trust by Young Enterprise.

Please note the following:

The loss of cash is not covered by the insurance policy. Special care should be taken to keep it safe at all times. 

Food and Drink:

Participants can buy and sell on branded foodstuffs (except those requiring refrigeration or other special storage arrangements) as long as the product has an ingredients list and a best before date which is more than three months from the date of sale by the Participant.

Manufacturer’s multiple packets can be broken down as long as the wrapping on individual items are marked with best before dates and the manufacturer has not restricted the breaking down of a multiple pack product for re-sale (this is printed on the packaging).

If Participants are planning any catering activity the Organisation will need to ensure that all relevant environmental health legislation is complied with in the preparation, storage and selling of the food.  This activity is not covered under Young Enterprise’s insurance policy.  To check this out further you need to contact your local Environmental Health Officers at your local authority.    

Cosmetics and beauty products: 

As with food, branded products can be resold as long as they are still in the manufacturers packaging.

If Participants are planning anything that involves reconditioning or use of these products (e.g. making soap or face painting) the Organisation will need to ensure that all relevant legislation is complied with in the preparation, storage and selling of the products.  This activity is not covered under Young Enterprises insurance policy. 

Car washing:

This activity is covered by Young Enterprises insurance policy however, extra care should be taken to make sure cars are not damaged during cleaning. Damage can be caused when a sponge is dropped on the floor, picking up grit which then scratches the paint. 

The Young Enterprise insurance policy does not cover any activity involving travel in any form of transport. If a trip is planned the Organisation will need to check that appropriate insurance is in place.

Raffles are the only form of gambling activity allowed and this should only involve the selling of tickets exclusively within the Organisation.

Alcohol and Tobacco:

The direct selling of these products or setting up of events in which they are sold is not allowed.

Theft of products prior to sale are not covered by Young Enterprise’s insurance policy unless from premises involving entry to or exit from by forcible or violent means.

Further exclusions from Young Enterprise’s insurance policy:

goods for animal consumption;
goods for use and/or the repair and maintenance of mechanically propelled vehicles;
use or selling of acids, gases, explosives, fireworks and chemicals; drugs and pharmaceutical products;
the manufacture, modification or sale of any product which has to be plugged into the mains electricity supply;
trading with the U.S.A. or Canada, or any territory under their jurisdiction;
the cost or value of any product lost or damaged due to defects;
the direct or indirect costs of repair or replacement of any product;
losses consequent upon damage to property designed by you or on your behalf and subsequently sold or transferred to some other party; 
replacing, reinstating, rectifying, recalling, removing, repairing or guaranteeing the performance of Products or making a refund on the price of any Product or damage to the Products themselves.

Any questions about insurance not covered here should be submitted to: fiverchallenge@y-e.org.uk