a) The Operator means person, firms or companies acquiring the services of Cornerstone Office Search Limited or associated companies.
b) The Operator appoints Cornerstone Office Search Limited for the introduction of customers, subject to the following terms:
a) All referrals of customers by Cornerstone Office Search Limited shall be deemed to give rise to commission payments upon completion of contracts, unless the Operator is able to demonstrate to a reasonable satisfaction within 48 hours of a referral that it has previously been contacted by such persons other than through a referral from Cornerstone Office Search Limited.
b) Commission payable for a successful introduction shall be an amount of 10% of the fully inclusive license fee payable by the customer to the Operator during the first 12 months of the customer’s occupancy, unless additional fees are agreed by prior arrangement.
c) The commission shall be due as soon as the Operator receives a signed agreement from the customer.
d) In the event that a referred client proceeds with freehold or long leasehold purchase then our fees will be based on 3% of the purchase price plus VAT unless prior agreement has been reached.
e) The operator agrees to email/call the agent on completion of a deal within 5 working days.
f) Should license fees from a particular customer increase or decrease during the term of the agreement, it is the responsibility of the Operator to inform us in writing so invoices can be adjusted accordingly.
g) Such commission payments will be payable within 30 days of the due date of the invoice. Failure to receive payment within this time will entitle Cornerstone Office Search Limited to charge interest at the rate of 4% above Barclays Bank PLC base rate.
h) It is understood that any client, applicant or customer that are referred to you by Cornerstone Office Search Limited or associated companies are strictly for use of the Operator Company only. The Operator can only use the referral information in relation to offering business centre services. It is not to be passed on to third parties such as another agent, broker or business centre without the prior approval of Cornerstone Office Search Limited and the applicant. When the same lead has been supplied by more than one agent, then it is the agent who arranges the viewing and that viewing is kept, who shall receive the fees. In the event that an agent does not arrange a viewing, then the first agent to make the referral secures the fee.
3. TERMINATION OF AGREEMENT:
a) These terms and conditions shall be terminable with immediate effect by either party on given written notice. Once an agreement is terminated by either party, a customer introduced by Cornerstone Office Search Limited prior to termination date which gives rise to a fee due in accordance with the forgoing, these conditions shall still apply.
4. CHANGE OF OWNERSHIP/INSOLVENCY:
a) In the event of a sale or insolvency, commission payable in accordance with these terms and conditions shall be due and payable in full. It is the responsibility of the Operator to advise Cornerstone Office Search Limited in writing to ensure the new owners are aware of future commission payments obligations to Cornerstone Office Search Limited. Should a subsequent owner not agree to cover remaining commission obligations, then those payments will be due from the vendor.