Broker Commissions - Avanta

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Broker Commissions

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broker commissions
New Customer introductions

A successful introduction is made when the agent passes the details of a customer on to Avanta. This introduction should be made by the way of an email. The date and time of the email will be considered as the date and time the introduction is made to Avanta.

Rejecting Introductions

Avanta can reject the introduction within 24 working hours of the introduction if the customer is already known to Avanta or the customer has already inquired through some other source. Under any circumstances Avanta is not under the obligation to share the source of the prior introduction nor is Avanta liable to produce any proof to such extent.

New Customer Confirmation

It is Avanta’s responsibility to notify the Agent with customer details, including date of commencement, company name and monthly inclusive license fee, within 48 hours of receiving signed documentation and full first-time payment from the customer.

Referral Fees Structure

When a new customer that has been referred to Avanta takes tenancy or acquires any of the services at the Business Centre(s) (including but not limited to full or part time office space, virtual office services) as a result of the introduction, Avanta will pay referral fees are 10% of the license fees of the total contract value only for a maximum period of to 12 months. If a customer signs up for an initial period of less than 12 months, Avanta will pay a fee on any renewal period up to the first 12 months of total tenancy including the initial contract. For deals exceeding 12 months which include a rent-free period within the first year, the agent shall invoice according to the following structure: Monthly license 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 Rs. 100,000 per calendar month towards License fees. There is an agreed 2 months, rent free period during this 2-year term: months 11 and 12. Fees are calculated as follows: (Rs. 100,000 x 22/24 x 12) x 10% = Rs. 110,000/-

Expansions

Should the client involve the Agent in the expansion Avanta will pay a fee as described above.

Payment

All payment will be made against submitting a hard copy of an accurate invoice. Avanta will pay invoices along with applicable taxes after statutory deductions within 40 days of receiving the invoice.

Miscellaneous

Notwithstanding to anything contained above, if at any stage the Client informs Avanta in writing that it does not wish to remain under the referral of the Agent, Avanta will not be liable to pay any fees what so ever.
Avanta reserves the right to amend these Terms at any time.

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