Boffix workspace partner T&Cs - Boffix

Boffix workspace partner T&Cs

BOFFIX WORKSPACE PARTNER T&CS

Last modified on 24th May 2018

These are the terms and conditions between boffix and Workspace Partners and are designed to simply outline the commercial relationship on which boffix and its partners work to the mutual benefit of each other.

KEY OBJECTIVES OF THIS AGREEMENT

We aim to keep it simple, as the principal goal is to create a mutually beneficial partnership between boffix, Workspace Partners and ultimately end users.

Boffix agrees to utilise its relevant assets, web presence and digital marketing teams to provide a platform for Workspace Partners to market commercial real estate and service offerings. The Workspace Partner will sign off on any information and/or marketing material used to promote their offering, Workspace Partners reserve the right to ask for this to cease at any point.

Workspace Partners agree to advertise and refer boffix products complementary to their commercial offering. The extent and quantum of the boffix services offered are solely under the control and direction of the Workspace Partner. The Workspace Partner can promote the boffix services in a way best to suit the Workspace Partner, however boffix reserves the right to ask for this to cease at any point

DEFINITIONS

  1. A boffix Workspace Partner (WP) is any worldwide legal entity who enters into a contractual agreement with boffix to supply commercial property and associated services to end users
  2. End User refers to an ultimate client of boffix or the WP.
  1. Party and Parties to these terms refers to either/or both boffix and the WP
  2. Commission is the payment made for referring potential end users between either Party
  3. boffix Ltd Registered Address is St Alban Tower, 35 Wood Street, London, EC2V 7AF

THIS AGREEMENT IS SUBJECT TO THE FOLLOWING TERMS

  1. All referrals between the Parties are subject to commission payments on completion of contracts with the end user, unless either party can reasonably demonstrate with 24 hours of the referral that they have previously been contacted by such customers other than via the Parties
  2. Commission is due as soon as either Party receives a signed agreement or contract from the end user. It is paid on monthly balances and is a percentage of the ex VAT contract sum of the ‘end user’
  3. Should income from the end user vary during the period of the contract it is the responsibility of the Parties to inform each other so commission payments can be adjusted.
  4. Commission payments are due within 30 days of the due date of the invoice. Failure to receive payment accrues at interest rate of 5% over the bank base rate from date of invoice.
  5. Both Parties agree to notify each other on successful acquisition of an end user within 5 days
  6. All end user details provided to either or both parties are to be used solely for the provision of workspace and services. End User information is not to be passed onto 3rd parties such as other agents, workspace providers or business service suppliers without the prior approval of the end user.
  7. Both Parties confirm they are GDPR compliant in the provision and management of all relevant information.

TERMINATION AGREEMENT

  1. There is no obligation on either Party to refer each others services, and this agreement become null and void immediately at the request of either Party
  2. On termination, all commission payments between the Parties become due immediately. For avoidance of doubt, boffix commission payments are calculated as 9% of the contract sum in the first 12 months of the end user contract.
  3. In the event of a sale or insolvency of the WP, all commission payments become due immediately. It is the responsibility of the WP to ensure new owners or insolvency practitioners are aware of commission payment contract obligations.

FINANCIAL TERMS – COMMISSION

Commission payments are 9% of the total contract sum as below (Excluding VAT)

Commission payments relating to WP commercial offerings are 9% of the total value of the first 12 months contract with the end user. After 12 months payments will end.

Commission payment relating to provision of boffix services to the end user are 3% of the total value of the end user contract on a per year basis for 3 years. After 3 years this agreement will end (commission will equal 9% of the total contract sum over 3 years, unless any other term of this agreement applies)

 

Notes on differing durations of commission payments

We like to be fair with commission. Our reasons for different payment durations is that boffix end users generally take on additional services over an extended period of time, whilst experience in running real estate shows end users tending to not. It was felt fair that our WPs benefit from this.