Property Principles Ltd – TERMS AND CONDITIONS OF BUSINESS
1a The “Customer” means the individual person, company or other party with whom Property Principles Ltd contracts.
1b The “Services” means the work or services to be provided by Property Principles Ltd under this Contract.
1c The “Contract” means any agreement made between Property Principles Ltd and the customer for the provision of the services.
- THE CONTRACT AND SERVICES
2a Acceptance by Property Principles Ltd of instructions from a Customer to provide Services at a stated fee rate shall be deemed to form a Contract to be effective from the date of receipt by Property Principles Ltd of instructions to proceed. Instructions are normally received or confirmed in writing, but may be given and/or accepted verbally.
2b The Property Principles Ltd will perform the Services in a timely and efficient manner.
2c The Contract will be in accordance with the following terms and conditions of business, and any additions or variations as shall be specifically stated or accepted in writing by the Consultant.
2d Property Principles Ltd reserves the right to assign, sub-contract or sub-let the Contract or any part thereof.
3a Fees are charged per unit or a multiple thereof.
3b All fees are in accordance with the fee arrangements agreed between the Customer and Property Principles Ltd.
3c Invoicing for the assignment will be monthly and payment is due within 30 days.
3d Property Principles Ltd reserve the right to charge interest at the base rate plus 6% for late payment.
3e Value Added Tax will be added to fees and expenses at the time of invoicing.
4a Property Principles Ltd will not divulge to third parties matters confidential to the Customer without the Customer’s consent. The Customer will not divulge to third parties matters confidential to Property Principles Ltd without Property Principles Ltd consent.
4b All information, written, typed printed or machine readable form work are the sole copyright of Property Principles Ltd and are not to be copied, reproduced, disclosed, or offered for sale to any unauthorised person, either wholly or in part, without the prior consent in writing from Property Principles Ltd
- FORECASTS AND ESTIMATES BY Property Principles Ltd
5a The time taken to complete the Contract and the measure of its success depend in part on factors outside the control of Property Principles Ltd
5b Any forecast or estimate made by Property Principles Ltd of the time required for the assignment and the results attainable is given in good faith, having regard to the information available, represents Property Principles Ltd interpretation of the Customer’s instructions, and assumes appropriate co-operation and support from the Customer’s staff. Any estimates and any confirmations or variations of them on subsequent reports and correspondence shall not be deemed in any circumstances to be undertakings, warranties or contractual conditions.
5c Where the Services are based on information provided by the Customer, Property Principles Ltd accepts no liability whatsoever as a result of any inaccurate or incomplete information provided by the Customer before or during the continuance of the Contract.
5d Property Principles Ltd gives no warranty as to the financial success of the Customer or the business venture which is the subject of the Contract
- TERMINATION OF CONTRACT
6a Property Principles Ltd intention is to ensure that the Customer’s requirements are satisfied. However, executive authority is with the Customer and requirements can change.
6b To ensure satisfaction and response to change of circumstances, the Contract may be terminated at any time by the Customer giving 3 months prior notice in writing to Property Principles Ltd. Property Principles Ltd may also terminate the Contract at any time by giving the Customer 3 months’ prior notice in writing.
6c Property Principles Ltd responsibility is limited to these Terms and Conditions. Property Principles Ltd shall not be liable for any claim for direct or indirect consequential loss, injury or damage whatsoever made by the Customer or any third party against Property Principles Ltd arising out of or in connection with any defect in the Services whether or not such defect is directly or indirectly wholly or in part caused by the negligent act, omission, default or neglect of Property Principles Ltd, its servants, or agents, or whether or not such defect amounts to a breach of a fundamental terms of a primary obligation of the Contract or fundamental breach thereof.
7. £1.25 per tenancy sample equation:
Assuming that the average agent has 45 offices and that the average office has 200 tenants per year
Over one year -
- (£2500 set up + 45x£250 at £11,250) is £13750 per agent. When divided by (45×200) 9000 tenants, that works out at £1.52 each.
Over five years -
- (£2,500 set up + 5x£11,250) is £56,250 per agent. When divided by (9000×5) 45,000 tenants, that works out at £1.25 each.
Property Principles Ltd
Company Number: 09831346