1.1 Cemex Ventures España, S.L.U. (hereinafter referred to as “Cemex Ventures”) was incorporated in 2016 as the result of the relentless effort of Cemex S.A.B. de C.V. (hereinafter referred to as “Cemex”) to support projects aiming to develop innovative solutions resulting in disruptive changes in the construction ecosystem and to reaffirm the position of Cemex’s group as one of the most innovative in the construction industry. For this purpose, Cemex Ventures was incorporated as the corporate venture capital of Cemex focused on being the leading-edge of innovation and leveraging Cemex’s knowledge of the business, technology, and platforms to lead the next wave of evolution in the construction industry.
1.2 As proof of Cemex Ventures’ support in entrepreneurial innovative solutions, Cemex Ventures launched the first edition of the Construction Startup Competition in 2017. Due to the great success of the eight previous editions, Cemex Ventures is pleased to announce the ninth edition of the Construction Startup Competition for the ninth year in a row. This ninth edition is organized in accordance with these Terms.
2.1 The objective of the Construction Startup Competition 2025 (hereinafter referred to as the “Competition“) is to invite, support and give visibility to global entrepreneurs who are willing to disrupt the construction industry and are interested in accelerating their projects’ development by leveraging Cemex Ventures’ resources and industry knowledge. The Competition also aims to build and maintain a fluid and close relationship between Cemex Ventures and the participants so that they keep each other updated on similar events or relevant news of the construction industry.
2.2 The ultimate purpose of the Competition consists in the selection of the most promising Startups that will present their projects in the Pitch Day Event (please see Section 9.1). Those Startups will be selected based on various criteria such as Startups’ growth potential, business model consistency and escalation feasibility (please see Section 10).
2.3 In this ninth edition of the Competition, Cemex Ventures intend to also organise a Thematic Event centred on one of the Competition’s Focus Areas (please see Section 10). At the Thematic Event, certain Participants selected by Cemex Ventures will have the opportunity to present their solutions.
3.1 The Competition is open to any startup – meaning any legal entity with a solution connected to the construction industry that is at an early stage of development (hereinafter a “Startup“) –, submitted by any person with full power and authority to accept the Terms, the Privacy Policy and the Competition Privacy Notice on behalf of the Startup (the Startups participating in the Competition, hereinafter referred to as the “Participants”). Employees of Cemex or any Partner (or any company of their groups (as defined in article 42 of Royal Decree of 22 August 1885 approving the Commercial Code)) are not allowed to participate in the Competition. Participants may be required, at any time, to provide Cemex Ventures with proof that they meet all eligibility requirements for this Competition.
3.2 There will be no territorial limitation to participate in the Competition.
3.3 Cemex Ventures reserves the right to disqualify any Participant who, at the sole discretion of Cemex Ventures, (i) cheats or otherwise alters the proper development of the Competition, (ii) engages (or is accused of engaging) in improper practices to increase profitability, (iii) breaches (or is accused of breaching) the applicable law, (iv) does not comply with the Terms or (v) commits (or Cemex Ventures has any suspicions that the Participant may commit) any action or inaction that, in the determination of Cemex Ventures, adversely affects, or otherwise reflects negatively on, Cemex Ventures, the Competition or the Participants of the Competition. For the purposes of this paragraph, the acts or omissions of any founder, employee, officer or director of a Participant will be deemed to be acts or omissions of the Participant itself.
3.4 Participants may be subject to a due diligence review by Cemex Ventures at any time to verify compliance with these Terms. Determination of such compliance is at the sole discretion of Cemex Ventures. Cemex Ventures may request, and each Participant shall provide Cemex Ventures with, documents related to the Participant’s performance of the Terms in order to ensure each Participant’s compliance with the same.
4.1 Participation in the Competition is free and does not entail any obligation of relationship between Cemex Ventures (and/or the Partners) with the Participants.
4.2 Startups who wish to participate in the Competition must register via Cemex Ventures’ website (by directly accessing https://www.cemexventures.com/subscribe-construction-startup-competition-2025, by clicking the “Apply” button at the “Competition” event details section on Cemex Ventures’ website) or via certain Partners’ websites (by accessing the hyperlink to the submission form available on the Competition landing page included on the Partners’ websites). The registration process consists in:
1) accepting these Terms, the Privacy Policy (https://www.cemexventures.com/privacy-policy/) and the Competition Privacy Notice (https://www.cemexventures.com/privacy-notice/). By accepting these three documents, Participants confirm that they have read and understood them and that they agree with them. The acceptance of these Terms, the Privacy Policy and the Competition Privacy Notice entails the entering into a binding legal agreement between the Participant and Cemex Ventures governed by their provisions. If any Participant does not agree with these Terms, the Privacy Policy or the Competition Privacy Notice, it will not be able to register in the Competition.
2) filling in a submission form that will enable the Participants to explain their Startup in detail. Participants must complete all fields of the form in English. In addition, participants will be able to upload any files they may find useful for the assessment of the Startup. Submissions received after the Closing Date (please see Section 9) will be considered invalid and will not be processed or accepted in the Competition. Cemex Ventures does not accept responsibility for any submissions which are lost, delayed, incomplete or otherwise not received, are corrupted or cannot be entered into for technical or other reasons.
Incomplete or illegible submissions, or those non-compliant with the Terms, are invalid. Cemex Ventures has no obligation to inform Participants of any invalid entries. Proof of transmission or electronic delivery will not be deemed to be proof of registration. Cemex Ventures is not responsible for, and will not assist in, resolving any disputes between Participants’ team members.
5.1 Each submission must be of Participants’ own creation. By participating in the Competition, Participants certify that they have sufficient ownership of the relevant intellectual property rights and the information provided during the Competition.
5.2 Participants represent and warrant that (1) they do not, and will not during the Competition, (a) infringe any third-party proprietary, intellectual property, industrial property, personal rights or other rights, including without limitation, copyright, trademark, patent, trade secret or confidentiality obligations; (b) otherwise violate any applicable law; and (2) they are not subject to any actual or threatened litigation or claim. Participants are responsible for, and will keep Cemex Ventures and the Partners harmless from, any claim based on (i) any violations resulting in the unauthorized use of a third party’s intellectual property and (ii) compliance with applicable laws. Specifically, Participants also declare that all codes, information, and materials submitted by them during the Competition:
belong to them;
are not false, inaccurate or misleading;
are not in breach of any applicable laws, regulations, licenses, or third-party rights;
are not harmful, threatening, defamatory, infringing, harassing or racially or ethnically offensive;
do not facilitate illegal activity or depict sexually explicit images;
do not promote violence or discrimination based on race, gender, colour, religious belief, sexual orientation and/or disability; and
do not cause damage or injury to any person or property.
6.1 Participants shall hold Cemex Ventures and the Partners harmless from and against any and all claims, expenses, and liabilities (including legal fees) arising directly or indirectly from or relating to the participation of the Participant in the Competition, including, but not limited to, claims and damages of any kind to persons and property, defamation, infringement of trademark, copyright, design right or other intellectual property rights and property damage.
6.2 Participants acknowledge and agree that views expressed by Cemex Ventures, the Partners and any collaborator or speaker in the context of the Competition are their own, respectively, and should not be relied upon the Participants. Participants acknowledge that any reliance upon any such opinion, advice, statement or information is at their sole risk. Cemex Ventures does not accept any responsibility or liability for any opinion, advice, statement or information given during or in connection with the Competition.
6.3 To the fullest extent allowed by applicable law, Cemex Ventures, the Partners and their related companies shall not be liable to the Participants whether in contract, tort (including for negligence), misrepresentation, restitution or otherwise for any loss of profits; loss of sales or business; loss of agreements or contracts; loss of anticipated savings; loss of income; loss of opportunity; loss of or damage to goodwill; loss of use or corruption of software, data or information; and/or similar losses or pure economic loss, for any indirect or consequential loss, costs, damages, charges or expenses however arising under or in connection with the participation of the Participants in the Competition, provided such damage was not caused by any wilful (dolo) or criminal act.
7.1 Except as expressly otherwise provided for in these Terms, the sole act of participating in the Competition does not entail the transfer or licence of any intellectual property by the Participants to Cemex Ventures or the Partners.
8.1 Participants acknowledge, agree and expressly authorize that the personal data provided during the Competition will be processed in accordance with these Terms, the Privacy Policy (https://www.cemexventures.com/privacy-policy/) and the Competition Privacy Notice (https://www.cemexventures.com/privacy-notice/). Participants are responsible for obtaining the corresponding authorisations from the individuals whose personal data is shared with Cemex Ventures and the Partners during the Competition so that Cemex Ventures and the Partners are allowed to collect, use, store and transfer such personal data in the terms of the Competition Privacy Notice, the Privacy Policy and these Terms. For this purpose, Participants shall provide any individual whose personal data is shared during the Competition with access to the Privacy Policy (https://www.cemexventures.com/privacy-policy/) and the Competition Privacy Notice (https://www.cemexventures.com/privacy-notice/). Participants will hold Cemex Ventures and the Partners harmless from any liability in this regard.
Please note that all the information contained in this Section regarding the Competition schedule, the Prizes, as well as the number of Startups being selected in Phases 1 and 2, attending the Pitch Day Event and/or the Thematic Event or being proclaimed the Competition Medallist(s) and/or the Thematic Event Winner, is indicative and may be amended by Cemex Ventures at any time at its sole discretion.
9.1 The Competition will be developed in the following four main process stages:
Phase 1 – Application: Participants will have to register their Startups (please see Section 4) within the following period:
Opening date: May 6, 2025, at 00:00h (UTC/GMT +1) (the “Opening Date”).
Closing date: June 22, 2025, at 23:59h (UTC/GMT-11) (the “Closing Date”).
Phase 2 – Screening and Selection: June 30, 2025, to October 8, 2025 (the “Phase 2”).
During Phase 2, the Participants’ applications will be reviewed by Cemex Ventures and the Partners (please see Section 12) following the selection criteria set out in Section 10 below, with the ultimate objective of selecting the most promising Participants that will present their projects in the Pitch Day Event (Phase 3) (from now on, the “Winners”). Additionally, certain Participants will be selected by Cemex Ventures to present their projects at the Thematic Event (Phase 4) (from now on, the “Thematic Event Participants”).
Phase 3 – Pitch Day Event: The Winners will present their projects in the Pitch Day Event that is expected to be celebrated in the fourth quarter of 2025. For such purpose, each Winner will appoint one member of its team to present the project to a jury composed by members appointed by Cemex Ventures and the rest of the Partners of the Competition.
Cemex Ventures shall inform the Winners about the venue and the exact date on which the Pitch Day Event will be celebrated as soon as possible. Travel expenses incurred by the presenter of each Winner to attend the Pitch Day Event will be covered by Cemex Ventures up to a maximum amount to be set by Cemex Ventures at its sole discretion. For the avoidance of doubt, travel expenses will be limited to transportation and lodging expenses and Cemex Ventures shall not bear any costs derived from any changes in the tickets or hotel bookings. All other expenses borne by the presenter of each Winner in connection with their attendance at the Pitch Day Event (e.g. transfers, meals, etc.) will not be covered by Cemex Ventures.
The jury will decide on the most promising Startups of the Competition (the “Competition Medallists”) at the end of Phase 3 – Pitch Day Event. The Competition Medallists will be awarded a monetary prize of approximately 50,000 euros in aggregate, to be distributed among the Competition Medallists at Cemex Ventures’ sole discretion (the “Competition Prize”). After the Pitch Day Event, Cemex Ventures will formally notify the Competition Medallists about the Competition Prize awarded to each of them, and the information required to proceed with the bank transfer. The Competition Medallists will have fifteen (15) calendar days as from such communication to respond to Cemex Ventures accepting the Competition Prize and providing the information required. If a Competition Medallist does not accept or provide all the information needed within such timeframe, it will lose the right to receive the Competition Prize. The Competition Prize is non-transferable and cannot be, under any circumstances, exchanged, altered, or compensated. Cemex Ventures is not responsible for the use made by the Competition Medallists of the Competition Prize. Marketing and/or sale of the Competition Prize is prohibited. Cemex Ventures reserves the right to not distribute the Competition Prize.
At the sole discretion of Cemex Ventures and the Partners, after the Pitch Day Event, Participants will have the opportunity to connect with Cemex’s and/or Partners’ network, R&D and marketing team.
Participants are responsible for arranging their own appropriate insurance cover in connection with the attendance at the Pitch Day Event. Cemex Ventures, the Partners, and their related companies, will not be liable for any injury or damage to any person or to any real or personal property howsoever caused (except for any liability that cannot by law be excluded or limited) at the Pitch Day Event.
Phase 4 – The Thematic Event: in this edition of the Competition, Cemex Ventures expects to hold a Thematic Event focused on one of the Competition’s Focus Areas (please see Section 10). The Thematic Event is expected to be celebrated in the last quarter of 2025. Each Thematic Event Participant will appoint one member of its team to present its project at the Thematic Event to a jury appointed by Cemex Ventures.
Cemex Ventures shall inform the Thematic Event Participants about the venue and exact date on which the Thematic Event will be celebrated as soon as possible. Travel expenses incurred by the presenter of each Thematic Event Participant to attend the Thematic Event will be covered by Cemex Ventures up to a maximum amount to be set by Cemex Ventures at its sole discretion. For the avoidance of doubt, travel expenses will be limited to transportation and lodging expenses and Cemex Ventures shall not bear any costs derived from any changes in the tickets or hotel bookings. All other expenses borne by the presenter of each Thematic Event Participant in connection with their attendance at the Thematic Event (e.g. transfers, meals, etc.) will not be covered by Cemex Ventures.
The jury will decide on the most promising Startup of the Thematic Event (the “Thematic Event Winner”) at the end of Phase 4 – Thematic Event. The Thematic Event Winner will be awarded a monetary prize of approximately 10,000 euros (the “Thematic Prize”, which, together with the Competition Prize, shall be considered the “Prizes”). After the Thematic Event, Cemex Ventures will formally notify the Thematic Event Winner about the Thematic Prize, and the information required to proceed with the bank transfer. The Thematic Event Winner will have fifteen (15) calendar days as from such communication to respond to Cemex Ventures accepting the Thematic Prize and providing the information required. If the Thematic Event Winner does not accept or provide all the information needed within such timeframe, it will lose the right to receive the Thematic Prize. The Thematic Prize is non-transferable and cannot be, under any circumstances, exchanged, altered, or compensated. Cemex Ventures is not responsible for the use made by the Thematic Event Winner of the Thematic Prize. Marketing and/or sale of the Thematic Prize is prohibited. Cemex Ventures reserves the right to not distribute the Thematic Prize.
Participants are responsible for arranging their own appropriate insurance cover in connection with the attendance at the Thematic Event. Cemex Ventures, the Partners, and their related companies, will not be liable for any injury or damage to any person or to any real or personal property howsoever caused (except for any liability that cannot by law be excluded or limited) at the Thematic Event.
9.2 This preliminary schedule of the Phases abovementioned may be amended by Cemex Ventures at any time. In such case, Cemex Ventures shall notify the Participants of such amendments as soon as practicable.
9.3 Further information regarding the Competition process can be found at Cemex Ventures’ website or at the “Competition” event details at Cemex Ventures’ website.
10.1 Winners and Competition Medallists will be selected based on the following criteria (among others): (i) relation to the construction industry, (ii) solution of any of the main pain points suffered by the actors involved in the construction value chain and (iii) focus on at least one of the following four opportunity areas (“Focus Areas”):
Green Construction: carbon capture, utilisation, and storage (CCUS) technologies, reimagine existing building materials with alternative and recycled resources, enable adaptive design in response to the changing environmental needs, improve waste management value chain, and reduce the carbon footprint of different phases of a project lifecycle.
Enhanced Productivity: integration of more digital assets in the built sector for better documentation handling and workforce organization, enhance HSEQ (health, safety, environmental, quality) standards for less errors on- and off-site, wearable technology, sensors and artificial intelligence to automate repetitive tasks, real-time data collection to prevent risks and faster decision making. Provide the industry with suitable techniques and tools to maximize the construction project’s efficiency and quality.
Construction Supply Chain Management: Help the key actors of the industry get the right resources to the right place at the right time for a more efficient construction ecosystem. Drive the construction industry by optimizing resource sourcing, fleet tracking and inventory management.
Future Of Construction: Affordable urbanization solutions for the metropolises, introduce more productive building techniques like modular construction and 3D printing, and make resilient and sustainable infrastructures that are future-ready. Upgrade the way the industry works with smart materials, innovative construction methods and new technologies that empower cheaper, faster and better performing developments to tackle the city’s housing shortage, the aging infrastructure, and prevent project delays and overruns.
10.2 Thematic Event Participants will be selected based on the following criteria (among others): (i) relation to the construction industry, (ii) solution of any of the main pain point suffered by the actors involved in the construction value chain, and (iii) focus on the specific Focus Area designated for the Thematic Event.
10.3 Startups’ growth potential, business model consistency and escalation feasibility are key areas that will be assessed for each Participant throughout the selection process, together with other criteria that the Competition panel of experts may find to be relevant.
11.1 Cemex Ventures may contact any Participant to invite them to participate in future editions of the Construction Startup Competition.
12.1 Cemex Ventures have entered into a collaboration agreement with the following companies that will, among other things, be involved in the screening and selection of the Participants, will actively participate in the Pitch Day Event (e.g. being part of the jury) and will promote the Competition through branding, marketing and communication campaigns (the “Partners”):
Société Européenne des Produits Refractaires SAS, a company existing under the laws of France, having its registered address at 12 Place de l’Iris, 92400 Courbevoie (France), registered at the R.C.S Nanterre under the number 305 756 413;
LNRD SAS, a company existing under the laws of France, having its registered address at 1973 boulevard de la Défense, 92000 Nanterre (France), registered at the Nanterre trade and companies under the number 814 234 142;
Ferrovial Corporación, S.A.U., a company existing under the laws of Spain, having its registered address at Calle Príncipe de Vergara, 135, 28002 Madrid, Spain, holder of Tax Identification Number A-85959484;
HILTI Corporation, a company existing under the laws of the Principality of Liechtenstein, having its registered address at Feldkircherstrasse 100 – FL 9494 Schaan – Principality of Liechtenstein, holder of Registration number FL-0001.011.557-0;
Dysruptek LLC, a company existing under the laws of Delaware, having its registered address at 111 Riverside Ave, Jacksonville, FL 32202, United States of America, holder of Registration number 6889833;
Zacua Manco LLC, a limited liability corporation existing under the laws of Delaware, having its registered address at The Corporation Trust Company, 1209 Orange Street, Wilmington, Delaware 19801, United States of America, holder of Employer Identification Number 87-2022327;
Trimble Inc., a company existing under the laws of Delaware, having a principal place of business at 10368 Westmoor Drive, Westminster, Colorado 80021, United States of America; and
Caterpillar SARL, a company existing under the laws of Switzerland, having its registered address at 76 Route de Frontenex, Geneva, CH-1208, Switzerland, holder of Registration Number CHE-104.444.537.
13.1 By accepting these Terms, the Privacy Policy and the Competition Privacy Notice, Participants expressly grant the following authorizations:
(i) General authorization to Cemex Ventures to share the information provided during the Competition with companies within the same group
By accepting these Terms, Participants authorize Cemex Ventures to share all the information provided by the Participants during the Competition and otherwise collected by Cemex Ventures in the context of the Competition (e.g. the Pitch Day Event Content and the Thematic Event Content) with any company within its group of companies for the purpose of organising and managing the Competition, complying with internal compliance rules, the applicable law and regulations, analysing any potential establishment of business relationships with the Participants, advertising and promoting the Competition and related topics (e.g. top 2025 Construction technology startups), and contacting the Participants for such purposes.
(ii) General authorization to Cemex Ventures to share the information provided during the Competition with the Partners
By accepting these Terms, Participants authorize Cemex Ventures to share all the information provided by the Participants during the Competition (in particular, the information provided in Phase 1 – Application of the Competition, which shall hereinafter referred to as the “Startup Information”)) with the Partners as long as (i) they are obliged to keep all non-public information secret and confidential and (ii) they use such information only for the development of the Competition, to analyse potential business relationships with Participants (being expressly hereby authorized to directly contact the Participants for this purpose) and as otherwise provided in these Terms.
(iii) Authorization to Cemex Ventures and the Partners to disclose Participants’ information for communication purposes
By accepting these Terms, the Participants acknowledge, agree and expressly authorize (with no right to compensation) Cemex Ventures (and any company within its group of companies) and any of the Partners (and any company within its group of companies), without limits to territory or deadline, to set, reproduce and publish the Startup Information, as well as their logo and any other information of the Participants provided during the Competition (that may include individuals’ personal data), through any means (including, without limitation, releases on websites, social media networks and press) and in any format.
This authorization is granted so long as: (i) the information to be disclosed is generally and publicly available, (ii) Participants’ intellectual property is always respected, and (iii) the purposes of the disclosure are advertising, informative and promotional purposes regarding the Competition or related topics (e.g. top 2025 Construction technology startups). Participants also acknowledge that Cemex Ventures and the Partners may engage suppliers to assist in the advertising, informative and promotional efforts abovementioned. Accordingly, Participants agree and expressly authorize that Cemex Ventures’ and Partners’ suppliers may also publish the Participants’ information and logo in the terms and conditions of this section mutatis mutandis.
In the event that the information was published on corporate websites, Participants shall be entitled to ask the relevant party to erase or update any information of their profile contained on the relevant website at any time without cause. Cemex Ventures and the Partners shall be entitled to erase any information of the Participants from their websites or social media networks at any time without cause.
(iv) Authorization to Cemex Ventures to videotape and record the Pitch Day Event
The Pitch Day Event as well as certain preparatory acts (including Participants’ representatives’ participation, image and voice) (the “Pitch Day Event Content”) may be videotaped, photographed and recorded by Cemex Ventures (directly or through a service provider) for the purposes of (i) live broadcasting the Pitch Day Event and any other preparatory acts and (ii) issuing press releases, social media announcements and making any other internal or external communication related to the Pitch Day Event, the Competition (including for the purposes of promoting future editions of the Construction Startup Competition) or related topics (e.g. top 2025 Construction technology startups). Cemex Ventures may also share such Pitch Day Event Content with the Partners for the same purposes abovementioned.
By accepting these Terms, Participants expressly authorize Cemex Ventures to (i) (either directly or through a service provider) videotape, audiotape, photograph, record, edit or otherwise reproduce their participation in the Pitch Day Event and any other preparatory acts and (ii) share with the Partners the Pitch Day Event Content, for the purposes established above. For these purposes, Participants warrant to Cemex Ventures that they will have obtained the corresponding authorisations from the individuals attending the Pitch Day Event before its celebration.
(v) Authorization to Cemex Ventures to videotape and record the Thematic Event
The Thematic Event as well as certain preparatory acts (including Participants’ representatives’ participation, image and voice) (the “Thematic Event Content”) may be videotaped, photographed and recorded by Cemex Ventures (directly or through a service provider) for the purposes of (i) live broadcasting the Thematic Event and any other preparatory acts and (ii) issuing press releases, social media announcements and making any other internal or external communication related to the Thematic Event, the Competition (including for the purposes of promoting future editions of the Construction Startup Competition) or related topics (e.g. top 2025 Construction technology startups). Cemex Ventures may also share such Thematic Event Content with the Partners for the same purposes abovementioned.
By accepting these Terms, Participants expressly authorize Cemex Ventures to (i) (either directly or through a service provider) videotape, audiotape, photograph, record, edit or otherwise reproduce their participation in the Thematic Event and any other preparatory acts and (ii) share with the Partners the Thematic Event Content, for the purposes established above. For these purposes, Participants warrant to Cemex Ventures that they will have obtained the corresponding authorisations from the individuals attending the Thematic Event before its celebration.
(vi) Authorization to the Partners to reproduce the Pitch Day Event Content and the Thematic Event Content
By accepting these Terms, the Privacy Policy and the Competition Privacy Notice, Participants authorize the Partners to edit and reproduce the Pitch Day Event Content and the Thematic Event Content provided by Cemex Ventures for the purposes of issuing press releases, social media announcements and making any other internal or external communication related to the Pitch Day Event, the Thematic Event, the Competition (including for the purposes of promoting future editions of the Construction Startup Competition) or related topics. For this purpose, Participants warrant to the Partners that they will have obtained the corresponding authorisations from the individuals attending the Pitch Day Event and/or the Thematic Event before its celebration.
13.2 Since the information provided by the Participants during the Competition may include personal data, Participants shall obtain the corresponding authorisations from the individuals whose personal data is to be shared with Cemex Ventures and the Partners during the Competition so that Cemex Ventures and the Partners are allowed to collect, use, store and transfer such personal data in the terms of this Section, the Competition Privacy Notice, the Privacy Policy and the rest of these Terms.
13.3 Participants expressly release Cemex Ventures and the Partners from any claims (i) arising out of the disclosure of their information to the extent Cemex Ventures and the Partners have complied with this Section or (ii) filed by a third-party based on the information provided by the relevant Participant during the Competition.
14.1 The Prizes are governed by Law 35/2006 of November 28 approving the Personal Income Tax (IRPF) and the partial amendment of the Laws on company, non-resident income and wealth tax; Royal Decree no. 439/2007, approving its regulation and subsequent amendments; Royal Decree-Law 5/2004 of March 5, approving the revised text of the Non-resident Income Tax Act (IRNR); Royal Decree 1776/2004 of July 30, approving the Regulation of Non-Resident Income Tax; Law 27/2014, of November 27, on Company Tax (IS); Royal Decree 634/2015 of July 10 approving the Regulation on Company Tax, and therefore, in that case, Cemex Ventures shall be responsible for making the payment on account or the corresponding withholding of the Personal Income Tax (IRPF), Non-Resident Income Tax (IRNR) or Company Tax (IS).
14.2 In accordance with the mentioned regulation, the Competition Medallists and the Thematic Event Winner are informed that the Prizes granted are considered capital gain subject to withholding tax or payment on account of the aforesaid taxes if the value of the Prizes exceeds three hundred euros (€300), being the base of the withholding tax or payment on account the total amount of the Prize, without deduction of the aforementioned €300. For this purpose the rate of payment on account established by law at any given time will be applied, currently 19% for residents of the European Union or the European Economic Area (Norway and Iceland) provided that for non-residents in Spain, there is effective exchange of tax information with the European Union or the European Economic state they are resident, under the terms provided in section 4 of the first additional provision of Law 36/2006, of November 29, approving measures for the prevention of tax fraud, and 24% for all other non-residents without permanent establishment, unless these last two cases are covered by a Treaty to avoid double taxation signed by Spain, in which event it shall be as specified in that Treaty.
14.3 Any tax consequences on the relevant Competition Medallist’s and Thematic Event Winner’s tax situation as a result of obtaining the Prizes will be borne by the Competition Medallist and/or the Thematic Event Winner themselves, thus releasing Cemex Ventures from any liability. For this purpose, upon request, Cemex Ventures will issue and send to each Competition Medallist and the Thematic Event Winner a certificate with the data corresponding to the Prizes after the end of the calendar year.
15.1 Registration in the Competition implies the acceptance in full of these Terms by the Participants.
16.1 Cemex Ventures has the right to amend these Terms or cancel the Competition at any time. In such event, Cemex Ventures shall publish the amendments or cancellation on its website. If, after the publication of any amendment of these Terms, a Participant does not expressly cancel its registration it shall be understood that it accepts the amended version of the Terms.
16.2 Participants are allowed to modify the information submitted or cancel its registration in the Competition by sending an email to Ibon Iribar (ibon.iribar@cemexventures.com)
17.1 These Terms and any dispute or claim arising out of or in connection with these Terms or their subject matter or formation (including non-contractual disputes or claims) shall be governed by and construed in accordance with the laws of the Kingdom of Spain.
17.2 Participants hereto irrevocably submit to the exclusive jurisdiction of the Courts of the city of Madrid (Spain) to settle any dispute or claim that arises out of or in connection with these Terms or their subject matter or formation (including non-contractual disputes or claims), expressly waiving any other venue to which they may be entitled by reason of their present or future domicile or by any other cause.