General Terms and Conditions of Use

General terms and conditions of use

Welcome to the website (hereinafter the “Website”).

By accessing this website, the internet user (hereinafter referred to as the “User”) acknowledges having read and understood these General terms and conditions of use (hereinafter referred to as “GTCU”) and pledges to comply with them.

The Company reserves the right to modify these GTCU at any time, especially in order to adapt them to changes made to the Website. The User therefore pledges to check them regularly. He is deemed to have accepted the latest version every time he logs in to the Website.


Website accessibility

This website is accessible 24/7, except in the event of force majeure, acts of third parties and/or maintenance and interventions required for its smooth functioning. In these cases, the interruption shall be notified through a warning on the home page or by any other means. This interruption cannot, in any event, incur the liability of the Company and does not entitle anyone to any compensation. Furthermore, the Company may prohibit access to this Website at any time following any breach of these GTCU by the User.

The Company cannot be held liable for any inability to access the Website owing to the particular configuration of the User’s computer station or his internet access.

In general, the Company cannot be held liable for the quality of service, the interruption of use of the Website, the inability to use it, or computer security attacks that might cause damages to the User’s computer hardware and data.

The Company cannot be held liable for the breach of these GTCU by a User.


Intellectual property

All the elements contained in the Website (information, data, text, sounds, images, drawings, graphics, distinctive signs, logos, brands, etc.) as well as all elements created for the Website are either the exclusive property of the Company, or are covered by rights to operate, of use, of reproduction and/or of representation granted to the latter.

These documents, information and elements are covered under regulations protecting copyrights, and especially under the provisions of the French Intellectual Property Code. In this respect, they are protected from any unauthorised use by the law or by these GTCU.

These GTCU do not grant any transfer of the intellectual property rights attached to the Website or its elements in favour of the Users.

Any reproduction or representation of the Website, in whole or in part, without the express authorisation of the Company, is prohibited and shall be deemed as an infringement likely to incur the civil and criminal liability of its perpetrator.

In particular, it is strictly prohibited to use or reproduce the name of “PAREF” or “PAREF REALTY FUND” and/or its logo, alone or combined, in any way whatsoever and especially for advertising purposes, without the prior approval of the Company in writing. Similarly, downloading or any form of copying the information present on the Website does not grant any rights over it. It is strictly forbidden to reproduce this information (in whole or in part), transmit it (electronically or in any other manner) and modify it. It is also strictly forbidden to use this Website for public or commercial purposes without first obtaining the authorisation of the Company in writing.

The User is forbidden from any act that is likely to directly or indirectly harm the Company’s property rights or, where applicable, the property rights of third parties regarding the elements of the website. Hence, the User is forbidden from making any modification to the files, documents, document or information, as well as to any element belonging to the Company or to third parties.

The User pledges to take all necessary measures to protect the intellectual property rights attached to the Website.

The User pledges to refrain from reproducing, transmitting, selling or distributing the contents of the Website.



The information available on this website is distributed in good faith and was supposed to be correct at the time it was published on the Website. The Publisher of the Website endeavours to ensure that the information distributed on it is accurate and up to date,and reserves the right to correct its contents at any time and without any prior notice. Despite the Website being updated regularly, the Company accepts no liability for any inaccuracies, errors or omissions that might be present. The Company does not give any guarantee regarding the veracity, completeness and accuracy of the Information or the absence of modification of it by a third party (intrusion, virus, etc.).

The User is informed that the contents of the Website are purely for information purposes only. The information contained therein cannot be deemed as an offer to the public, a solicitation or canvassing by the Company of the User.


Cookie policy

In order to enable the use of certain features, the Website uses cookies.

A cookie is a file that allows registering information related to the browsing of the User’s computer on the website (e.g. number of visits, number of pages viewed, etc.) and especially helps to facilitate his visits to the website. The User may, at any time, delete the “cookies” installed on his computer, decline to give permission for saving new “cookies” and opt to receive a notification before the installation of a new cookie by configuring his browsing tool using the instructions given hereinafter “Types of cookies, cookies and statistics and configuration”. If the User uninstalls a “cookie” or if he declines to install “cookies” on your machine, he risks not being able to benefit from some services of the Website.

Types of cookies, cookies and statistics and configuration
The cookies that may be installed on the server of the User’s computer when he browses the Website are cookies that exclusively seek to enable or facilitate electronic communication, or which are strictly necessary for providing the service requested by the User (language cookies, etc.), or which are statistics cookies or other cookies under the conditions described hereinafter.

When the cookies require the User’s approval before they can be installed, this is requested using a banner appearing on the first page of the website, it being specified that continuing to browse the website is deemed as acceptance.

  • Analytical cookies: Cookies help to count the number of visitors of a page.
    These are cookies originating from Google Analytics.
  • Sharing cookies (social media links): the Website may contain sharing links to Facebook, Twitter and other similar social media networks, which allow the user to share the contents of the Website with others. When the User uses these sharing buttons, a third-party cookie is installed. If the User is logged in to the social media network when he is browsing the Website, the sharing buttons enable linking the viewed content to his user account.

Cookie management

The User has various means to manage his cookies.
He may, at any time, choose to deactivate them, accept them or reject them on a case-by-case basis, or reject them systematically once and for all.

Please note that this configuration is likely to modify the User’s conditions of access to the services offered by the Website, which require the use of cookies.

Depending on the type of cookies that the User wishes to deactivate, he may express his choice:

  • Through the configurations of his browser

Most browsers accept cookies by default. However, the User may decide to block these cookies or opt for his browser to alert him when a website attempts to install a cookie on his terminal.

To change the cookie management of his browser, the User may modify the settings in the confidentiality tab.


Warning: certain features of the Website may no longer function.
The configuration of every browser is different. It is described in the browser’s help menu, which will allow the User to know the manner in which he can modify his cookie preferences.

  • Through opt-out links for analytical cookies

The User may find more information on analytical cookies, and especially on how to deactivate them, by using the following links.

For the cookies installed by Google Analytics

For more information on cookies, you may visit the website of the CNIL (French data protection agency).


Applicable law

This Website and its conditions of access and use are governed by French law.
Despite content being published in English, the French version shall prevail in case of a dispute.
Any dispute, challenge or litigation related to these GTCU shall be submitted to the exclusive jurisdiction of the Courts of Paris.


Updating of the GTCU of the website and the applicable law

 PAREF may update these GTCU at any time, without any prior notice. Therefore, the User is requested to check them regularly for the latest applicable versions of the GTCU.


Technical information

 It is the duty of every Internet user to take all appropriate measures to protect his own data and/or software from contamination by any viruses circulating on the Internet.