- Subject to the following terms and conditions, iQ Offices will provide a Finder’s Fee to Brokers for each introduction (“Introduction”) of a qualified New Member that results in the execution of a Membership Agreement.
- To be eligible to participate in the iQ Broker Program, you must be registered to trade in real estate within the jurisdiction in which the Introduction was made. By participating in the iQ Broker Program you represent and warrant that:
- you have the right to act on behalf of the brokerage firm and any New Member represented;
- all information provided to iQ Offices and to the New Member in connection with the iQ Broker Program is accurate, complete and current and, in the event any relevant information changes, it is your obligation to update such information;
- you shall not make any representations, guarantees or warranties regarding iQ Offices, any iQ Offices’ products or services, or any of the terms or conditions of the Membership Agreement, except as expressly authorized in writing by iQ Offices; and
- you will perform any services contemplated hereunder in a professional and workmanlike manner and in compliance with all applicable laws, obligations, rules and regulations.
Qualified New Member Introductions
- For any Introduction of a New Member to be deemed sufficient for the Broker to receive a Finder’s Fee (“Qualified Introduction”), such New Member must adhere to the following stipulations:
- New Member must enter into a Membership Agreement to license the Office Suite no later than six (6) months from the date of Introduction;
- New Member must not be a current or previous Member of iQ Offices;
- New Member must not have previously contacted iQ Offices or otherwise been submitted by another party prior to your Introduction;
- New Member must not be a subsidiary, affiliate or entity under common control of an existing Member; and
- if multiple Introductions from different Brokers are received for the same New Member, iQ Offices will honour the Qualified Introduction that was received earliest.
- A Broker will only be eligible to receive a Finder’s Fee if such Broker:
- is engaged in the active representation of the New Member in their search for office workspace;
- promotes iQ Offices to the New Member; and
- engages in reasonable continuing assistance to get the Membership Agreement between iQ Offices and the New Member executed.
Confirmation of the Broker representation of the New Member may be required and iQ Offices reserves the right to request confirmation of such arrangement from any New Member.
- Qualified Introductions must be made by contacting an iQ Offices’ team member and providing written confirmation to the appropriate iQ Offices’ team member of:
- the Broker’s contact information including phone number, email address and name of the brokerage where they are employed;
- the New Member’s contact information including company name, primary contact, phone number and email address; and
- a summary of the New Member’s license requirements.
- The Broker must complete a separate Qualified Introduction for each New Member per transaction and/or location pursuant to the iQ Broker Program. The Broker will not receive credit for any other transaction unless they have completed and submitted a separate Qualified Introduction identifying the applicable transaction. iQ Offices will assume that the Broker does not represent the New Member in transactions not specified by the Broker in a Qualified Introduction. Introductions that are incomplete or that do not adhere to the process outlined in these terms and conditions will not be recognized as valid by iQ Offices and will not be processed for payment of a Finder’s Fee. Please note that all Qualified Introductions are conditionally accepted and not fully confirmed until an iQ Offices Team member and the New Member approves and confirms the Broker’s involvement in the Qualified Introduction.
- By agreeing to these terms and conditions, you hereby represent and warrant that you have obtained consent from the New Member to send the New Member’s contact information to iQ Offices in connection with your participation in the iQ Broker Program, and you believe in good faith that the New Member desires to become a member of the iQ Offices community in the location named in your Qualified Introduction. Further, to the extent required by applicable law, you will inform the New Member of our Membership Agreement.
Contact with New Member
- Upon receipt of a Qualified Introduction, iQ Offices will initiate direct contact with the New Member for the purpose of confirming the Qualified Introduction unless otherwise instructed to contact the Broker first. By agreeing to these terms and conditions, the Broker hereby represents that it has obtained consent from the New Member to send the New Member’s contact information to iQ Offices for the purpose of participating in the iQ Broker Program as described herein.
Fees and Payment
- iQ Offices will pay the Broker a Finder’s Fee for Qualified Introductions equal to the amounts outlined in Section 4 of the iQ Broker Program. Eligibility for receipt of a Finder’s Fee is contingent on the following factors:
- the Membership Agreement must be executed in full and be for a minimum term of three (3) months;
- the New Member must have paid its First Month’s License Fee plus applicable taxes and Security Deposit;
- the New Member must occupy the Office Suite; and
- the Broker must provide iQ Offices with a valid invoice for the Finder’s Fee (“Invoice”).
- Qualified Introductions of persons or entities that previously held, but no longer hold, Office Suite pursuant to a Membership Agreement with iQ Offices (“Returning Member”), shall be treated as either a renewal, expansion, or transfer, as applicable, except that if, as of the date of any Qualified Introduction, three (3) months or more have passed since the Returning Member’s move-out from their most recent iQ Offices Suite, such Returning Member shall be treated as New Member hereunder. The policy for Returning Members applies regardless of whether a Returning Member returns to the same or a different iQ Offices location.
- Referral Fees will be paid via cheque within 15 days of receipt of an Invoice.
- If a Broker is affiliated with a brokerage firm, all payments of Finder’s Fees due hereunder shall be paid by iQ Offices to such brokerage firm, unless otherwise expressly directed in writing by an authorized person at the brokerage firm. iQ Offices shall not be liable for payments not received by the Broker or other third parties from such brokerage firm.
Special Payment Terms
- In the event a New Member signs a Membership Agreement with iQ Offices that is in any way conditional or contingent on acts by any party, including, but not limited to, agreements that are conditioned on iQ Offices entering into a lease for space encompassing the relevant Office Suite, then the Finder’s Fees for such Qualified Introduction shall be paid within thirty (30) days from the date the Membership Agreement is no longer conditional and/or contingent on further action(s) by any party.
- While the amount of the Finder’s Fee for Membership Agreements with contractual early termination options is based on the total committed License Fees regardless of any early termination option, if a Membership Agreement contains a contractual early termination option, any initial payments will include only eligible Finder’s Fees up to the first contractual termination date. Subsequent payments will include eligible Finder’s Fees up to the next contractual termination date. Notwithstanding anything contained herein, if a New Member exercises an early termination option, the Broker shall not be eligible for Finder’s Fees that would have otherwise accrued after such termination.
- In the event that the New Member reduces its total committed Office Suite or terminates their iQ Offices Membership Agreement after move-in but before the end of their commitment term, the Broker will not be responsible for the repayment of any accrued and already-paid Finder’s Fees related to such Qualified Introduction. Instead, the New Member shall be responsible for the repayment of any applicable Finder’s Fees to iQ Offices.
- In the event that you are paid more than your entitled Finder’s Fees, whether as a result of calculation errors, unaccounted-for deductions, or for any other reason, you shall promptly repay iQ Offices such overpaid amounts, as determined by iQ Offices. If you fail to promptly return such overpaid amounts, iQ Offices may offset any such amounts from future payments to you, and you may be suspended or disqualified from the iQ Broker Program, in iQ Offices’ sole discretion. The foregoing shall be in addition to all rights and remedies iQ Offices may seek in equity or at law.
- All disputes regarding Finder’s Fees or any other payment amounts must be communicated in writing. You must communicate a dispute within five (5) business days of receipt of the disputed invoice, and failure to do so shall act as a waiver of any disputes related to the amounts described therein. iQ Offices reserves the right to withhold payment in the event of a bona fide dispute, as determined in iQ Offices’ sole discretion.
- A Broker may be disqualified from the iQ Broker Program for reasons including, but not limited to:
- submitting false leads;
- providing incorrect information;
- misrepresenting Broker’s licensing or eligibility status;
- misrepresenting Broker’s relationship with New Members;
- referring an entity which is a subsidiary, affiliate, or entity under common control of either the Broker or Broker’s firm or any entity in which the Broker or Broker’s firm has or shares an interest or parent entity;
- misusing the iQ Offices Member network to solicit clients;
- participating in or having any involvement in criminal or fraudulent activities; or
- failing to comply with or breaching these terms and conditions.
- A Broker may be disqualified from the iQ Broker Program for reasons including, but not limited to:
- A disqualified Broker is not eligible to participate in the iQ Broker Program and shall not be entitled to any Finder’s Fees, unless iQ Offices specifically revokes such disqualification in its sole discretion. All disqualifications are determined in iQ Offices’ sole discretion. In addition to being disqualified from the iQ Broker Program, iQ Offices may seek all rights and remedies available in equity or at law.
General Terms and Conditions
- You will defend, indemnify, and hold harmless iQ Offices from and against any claim, cause of action, demand, suit, proceeding, damages, liabilities, loss, or costs, including without limitation, reasonable legal fees, made or brought against iQ Offices arising out of:
- your participation in the iQ Broker Program;
- any breaches of your representations, warranties, or obligations hereunder; or
- the negligence or willful misconduct of you or your employees, representatives or agents.
iQ Offices will notify the Broker of any claims as soon as reasonably practicable.
- iQ Offices will not be liable or obligated with respect to any subject matter of these terms and conditions or otherwise related to the iQ Broker Program or under any contract, tort, strict liability, or other legal or equitable theory, whether or not advised of the possibility of such damages whatsoever, for any special, indirect, incidental, exemplary, punitive, reliance, or consequential damages, or loss of profits, revenue, data, or use. iQ Offices’ liability shall not exceed the Finder’s Fees payable by iQ Offices to a Broker for a Qualified Introduction during the 6 months prior to the event giving rise to such liability.
- iQ Offices reserves the right to amend or update the iQ Broker Program and these terms and conditions at any time without prior notice. Upon thirty (30) days’ written notice, or immediately upon notice in the case of an emergency, iQ Offices may, at its option, suspend or terminate the iQ Broker Program and these terms and conditions, whether worldwide or in any locations or geographic areas, as determined in iQ Offices’ sole discretion.
- Brokers shall use confidential information only in connection with these terms and conditions, unless otherwise authorized, instructed or agreed in writing by iQ Offices. Brokers shall use best efforts to disclose confidential information only to the Broker’s representatives, employees, agents, or clients who need to know such information in connection with these terms and conditions, and Brokers shall inform each such representative, employee, agent, or client of these confidentiality obligations and ensure that such parties abide by the confidentiality obligations set forth herein. Brokers shall be solely responsible for any breach of these confidentiality obligations by any of its representatives, employees, agents, or clients. Brokers shall treat all confidential information as strictly confidential, and will not, either directly or indirectly, use, communicate, or otherwise disseminate any confidential information to any person or entity for any purpose not permitted hereunder. Brokers shall not produce or reproduce parts or components, in any form, incorporating confidential information, whether for itself or for a third party, for purposes or uses other than those permitted herein or as otherwise expressly permitted by iQ Offices in writing.
These terms and conditions, and the rights and obligations herein may not be assigned or transferred, in whole or in part, by a Broker without the prior written consent of iQ Offices. Any assignment in violation of this provision is void and without effect. iQ Offices may transfer these terms and conditions to any third party without the Broker’s consent. In the case of any permitted assignment under these terms and conditions, these terms and conditions or the relevant provisions shall be binding upon and inure to the benefit of the successors and permitted assigns of the parties