Terms of Trade between Search Office Space and Business Centres

Introduction

Search Office Space is a trading name of SOS Worldwide Limited; a company registered in England and Wales with company number 2878016, VAT number 820222778 and with registered address 1st Floor, 7-10 Chandos Street, London, W1G 9DQ, United Kingdom. “Search Office Space” or “SOS” shall be direct references to SOS Worldwide Limited.

Registration

Registering your Business Centre with Search Office Space is entirely free and there are no joining or annual membership fees. Your Business Centre will go live on our Search Office Space website (www.searchofficespace.com) only once we have received confirmation by email, clearly stating that you, the Business Centre, are in agreement with our Terms of Trade (“Terms”). Search Office Space reserves the right to promote Business Centres on third-party advertising platforms. Business Centre information used on said third-party advertising platforms shall be correct and consistent with content on Search Office Space official website advertisement.

New Customer introductions

A successful introduction is made when Search Office Space passes the details of a customer on to the Business Centre. This introduction is made by way of the Search Office Space email introduction. In certain circumstances, it may not be possible to make our introduction by email, due to factors beyond our control, such as temporary power outage, a fault in the Search Office Space IT system or force majeure. In any such event, a successful introduction will be made by telephone or by fax, and said Search Office Space email introduction will be sent at a later date for further confirmation. When a Search Office Space email introduction is not received by a Business Centre due to factors for which we can accept no responsibility, such as spam or junk mail filtering, Search Office Space deems that a successful introduction has been made and that Search Office Space will be due all fees outstanding, in line with the Terms set out in this document. All introductions sent by email to Business Centres also appear in the ‘Operator Login’ section on our website, accessible only by username and password.

New Customer rejection

It is assumed that the Business Centre acknowledges and accepts a new Search Office Space customer on receipt of our email introduction, unless the Business Centre responds by email to the Search Office Space introduction within 48 hours, stating that a customer introduction has been rejected, as the customer is already known to the Business Centre. The time, date and source of referral shall also be specified in the Business Centre’s email response. If a rejection email is not received by Search Office Space within 48 hours, then all fees outstanding shall remain payable to Search Office Space.

New Customer confirmation

It is the responsibility of the Business Centre to provide Search Office Space with customer details, including date of commencement, company name and monthly inclusive licence fee, within 48 hours of receiving signed documentation from the customer.

Privacy policy

It is understood that any customer introduced to the Business Centre by Search Office Space is strictly for said Business Centre’s use only. The Business Centre can only use customer information in relation to offering Business Centre services. Customer information cannot be passed on to a third party, such as to a third-party agent or broker or another Business Centre, without the prior agreement of Search Office Space. The relationships between all parties shall be agreed upon by Search Office Space before customer details are passed on. If a customer is referred to a third party without Search Office Space’s knowledge, all fees outstanding shall be the responsibility of the Business Centre to which the customer was initially referred.

Referral Fees structure

When a Search Office Space customer that has been referred to the Business Centre takes tenancy or acquires any of the services at the Business Centre(s) (including but not limited to full or part time office space, co-working space, virtual office services, conferencing facilities or meeting rooms) as a result of Search Office Space’s introduction, it is the responsibility of the Business Centre to advise Search Office Space by email of the date of commencement, company name, monthly inclusive licence fee and initial term, at which time the referral fees become payable. Search Office Space’s referral fees are 10% of the inclusive licence fee for a period of up to 12 months. Search Office Space reserves the right to accept fees higher than 10% in the event that any Business Centres run such promotions. If a customer signs up for an initial period of less than 12 months, Search Office Space is entitled to fees on any renewal period up to the first 12 months of tenancy, irrespective of whether Search Office Space was involved in the renewal negotiations. For deals exceeding 12 months which include a rent free period within the first year, Search Office Space shall invoice according to the following structure: Monthly licence fee, multiplied by the total number of non-rent free months, divided by the total term in months, multiplied by 12 multiplied by 10% or a higher fee, as advised by the individual Business Centre. Example: A client signs up for 2 years paying £2500 per calendar month. There is an agreed 2 month, rent free period during this 2-year term: months 11 and 12. Fees are calculated as follows: (£2500 x 22/24 x 12) x 10% = £2750.

Expansions

Should the licence fee increase during the term of the agreement, it will be the responsibility and obligation of the Business Centre to advise Search Office Space by email within 48 hours of the change in terms.

Payment

Settlement of invoices is to be made in advance, in one single payment, for the full 12 month fees. All invoices are to be paid within 14 days. In certain circumstances, Search Office Space may agree to different billing cycles in the event that a customer does not sign for an initial 12 month period. If a customer vacates early or signs an agreement for less than 12 months then fees will be calculated on a pro rata basis.

Change of Ownership

In the event that a Business Centre (or an entire group or part of a group of Business Centres) is sold, it is the responsibility of the selling Business Centre (“Vendor”) to advise Search Office Space in writing or by email and to ensure that the new owners are aware of all future referral fee obligations to Search Office Space, and that they will be honoured. Failure to do so shall result in the outstanding fees remaining the responsibility of the Vendor.

Overturn rule

Regardless of which referrer is first to send an introduction to the Business Centre, the introduction should be overturned to the referrer who subsequently arranges a viewing for the customer at the Business Centre. Should this viewing result in a sale, the referrer who arranges the viewing which the customer attends shall be credited with the fee. In the event that the Business Centre arranges the viewing, and not the referring agency, then the referrer that was first to send the introduction shall be credited with the fee.

Miscellaneous

Search Office Space reserves the right to amend these Terms at any time.

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