General Terms and Conditions to the Office Service Agreement

Nature of agreement: This agreement for the provision of a furnished office accommodation is the commercial equivalent of an agreement for accommodation in a hotel. The Client accepts that at all times the office space and the Business Center remain in the possession and control of the Provider. The Provider grants the right to the Client to use the office space located at the Business Center. The Provider reserves the right to change the office space allocated with similar or upgraded office. This agreement is comprised of the front page and the present terms and conditions incorporating also the House Rules.

Office Services: The Provider is to provide the services during normal local office hours, from Monday to Friday, except for nationally recognized holidays. The Provider shall employ the services of a receptionist/telephonist during office hours. The Provider is open to discuss special arrangements for the provision of the services outside the Provider’s normal opening hours. All of the optional services described are subject to the availability of the Provider’s Business Center staff at the time of any service request. If it is decided by the Provider that a request for any particular service is excessive, the Provider reserves the right to charge an additional fee in accordance with the published rates.

Term: The agreement is entered into for the period stated therein and will renew automatically for a successive period equal to the current term until terminated by the Provider or the Client. The Provider reserves the right not to renew the agreement and shall notify the Client accordingly by informing the Client thirty (30) days before the expiration of the agreement. The Provider also reserves the right to effect changes to these terms and conditions prior to any renewal period.

Termination: Either the Client or the Provider may terminate this agreement by giving at least 30 (thirty) days written notice to the other party prior to the expiry date.

Immediate Termination: To the maximum extent permitted by applicable law, the Provider may terminate this agreement immediately by giving the Client notice and without the need to follow any additional procedure if: (a) the Client becomes insolvent, bankrupt, or goes into liquidation or becomes unable to pay its debts as they fall due, or, (b) the Client is in breach of one of its obligations which cannot be put right or which the Provider have given the Client notice to put right and which the Client has failed to put right within fourteen (14) days of that notice, or, (c) the Clients’ conduct, or that of someone at the Business Center with the Client’s permission or invitation is incompatible with ordinary office use and, (d) that conduct continues despite the Client having been given notice, or, (e) that conduct is material enough (to the Provider’s reasonable opinion) to warrant immediate termination. In case of immediate termination of the agreement for any of the reasons referred to in this clause, it does not constitute forfeiture of any outstanding obligations the Client may have and is still obliged to: 
– pay the fees for additional services used;
– pay the standard fee for the remainder of the period for which the Client’s agreement would have lasted, had the Provider not terminated it; or
– indemnify the Provider against all costs and losses incurred, or may incur as a result of the termination.

Upon termination: When the agreement ends, the Client must vacate the office space immediately, leaving it in the same state and condition as it was when the Client moved in. Upon the Client’s departure or if the Client chooses to be relocated to a different office with the Business Center, the Provider will charge a fixed office restoration service fee to cover normal cleaning and any costs incurred to return the office space to its original condition and state. The Provider reserves the right to charge additional reasonable fees for any repairs needed above and beyond normal wear and tear. If the Client continues to use the office space when the agreement has ended, the Client is responsible for any loss, claim or liability the Provider may incur as a result of the Client’s failure to vacate on time.

On moving in: The Client must sign an inventory of all accommodation, furniture and equipment permitted to use, together with a brief description of their condition, and details of the keys and/or entry cards provided. The Client might at any time have as many employees working in the office space, as per the allowable workstations.

Business operations: The Client may only use the accommodation for standard office purposes in conjunction with the business activities under the name that appears overleaf on the agreement or as otherwise agreed with the Provider. Office use of a “retail’’ nature, involving frequent visits by members of the public, is not permitted. The Client is prohibited to be engaged on a business which competes with the Provider’s business, unless the prior written consent of the Provider is given. The name of the Provider (or that of the Provider’s affiliates) cannot be used in any way in connection with the Client’s business.

Use of the office space: The agreement lists the office space/shared office/shared desk the Provider initially allocates for the Client’s business use. Where the accommodation is a shared office, this can only be used by one individual and it cannot be shared amongst multiple individuals.

Name and address: The Client may only carry out the business activities under the name that appears overleaf on the agreement. At the Client’s request and extra cost, the Provider will include the name in the house directory that appears at the reception area of the building where the Business Center is situated. The Client may not put up or attach any signs on the doors or any other part of the accommodation used which may be visible from outside the accommodation. The Client may use the business address as its official registered office address without the Provider’s prior written consent.

Liability on property: The Client is responsible for the accommodation’s equipment, fittings and furnishings for the duration of the agreement and will be held liable for any damage caused by its representatives, its invitees, or any other person, other than the center’s staff, present at the premises with the Client’s permission, whether express or implied, including but not limited to all employees, contractors and/or agents.

Office furniture and equipment: The Client may not install any furniture or office equipment, cabling, IT or telecom connections or any other fixtures or fittings without the Provider’s prior written consent and subject to any further terms and conditions, which may be imposed.

IT Installations: The Client must not install any cabling, IT or telecom connections without the Provider’s prior consent, which the Provider may refuse at its absolute discretion. As a condition to the Provider’s consent, the Client must permit the Provider to oversee any installations (for example, IT or electrical systems) and to verify that such installations do not interfere with the use of the accommodation by other clients or the Provider or the landlord of the building. Fees for installation and de-installation will be at the Client’s cost.

Connectivity services: The Client must comply with any on or off line copyright notices, licence terms or other notices that appear in an electronic form on the PC. The Client may not copy, use or exploit any software or other material available, unless obtained a permission by the Provider to do so. The Client must comply with any terms and conditions of the Provider. The Provider does not make any representations as to the security of its network, the internet, or any PC’s that may be provided, vis-à-vis any information and/or material that the Client stores and/or place in them. The Provider advises clients to adopt whatever extra security measures they may deem appropriate. The Client hereby warrants to the Provider that the provision of the Provider’s connectivity services will not infringe the rights of any third party. The Provider warrants that the net connectivity services shall be provided and performed in a professional and workmanlike manner.

Keys and security: Any keys and entry cards assigned to the Client remain the Provider’s property at all times. The Client may not copy or allow their usage by any other person without the Provider’s prior express consent. Any loss must be reported immediately: a replacement cost and/or fee, which may also include changes of locks, will be applicable. If the Client is permitted to use the Business Center beyond normal working hours, it is the Client’s responsibility to lock the doors to its accommodation and to the Business Center when leaving the premises.

Access to accommodation: The Client hereby grants to the Provider free access to the accommodation at any time, including and without limitation, in an emergency case, for repairs, works, cleaning and maintenance and permission to inspect for the purpose of ensuring adherence to the agreement and these terms and conditions. The Provider will always endeavor to respect any of the Client’s reasonable security procedures to protect the confidentiality of the Client’s business.

At the start of the agreement: If for any reason the Provider is unable to provide the number of offices in accordance with the agreement on the due date, the Client’s remedy is strictly limited to the termination of the agreement without penalty or any other liability. Should the Client wishes to accommodate in the lesser number of offices, the fee will be adjusted accordingly; no other remedy is available under this circumstance.

Suspension of services: In the event of force majeure or any other events beyond the Provider’s control, the provision of the services, as well as payment of the standard fee, will be suspended for the duration of any such event, unless performance becomes impossible on account of such events and the Provider is, therefore, released from the obligation to provide the services.

Indemnities: Except where the Provider is grossly negligent, the Client must indemnify the Provider in respect of all liability, claims, damage losses and expenses, which may arise in respect of:

– claim for death or personal injury of anyone while in the accommodation the Client is using, or within Business Center or part thereof for which the Client is in control;

– non-compliance with the terms and conditions of the agreement. The Client must also pay any cost, including reasonable legal fees, which the Provider may incur in enforcing this agreement.

Compliance with the law: The Client must comply with all relevant laws and regulations in conducting its business activities. The Client has no authority to do anything that may interfere with the use of the Business Center by the Provider or by others, or cause any nuisance or disruption that may result in an increase of the Provider’s insurance premiums, or cause loss or damage to the Provider or to any other co-inhabitants/owners of the building in which the Business Center is located. If the Provider is been advised by a government authority or other legislative body that it has reasonable suspicion that the Client is conducting criminal activities from the Business Center then the Provider shall be entitled to terminate this agreement with immediate effect.

Compliance with the house rules: The Client must comply with all the house rules, whether these relate to business practices, professional ethics and responsibility, health and safety, fire precautions, or otherwise.

The Provider’s liability: The Provider is not liable for any loss as a result of failure to provide any or all of the services due to a mechanical breakdown of any of the fixtures or fittings of the accommodation, force majeure or any other events beyond its control, or for the termination of the Provider’s interest in the building in which the Business Center is located. The Client hereby assumes the duty to notify the Provider immediately of any failure as above and grant us reasonable time to restore/remedy any such failure. The above release from liability shall not apply to the extent that the cause of damage or loss is attributable to willful intent or gross negligence by the Provider; notwithstanding, the Provider shall not be liable for any consequential or foreseeable lose or damage, such as loss of business, loss of profits, loss of anticipated savings, loss of or damage to data etc. The Provider will not in any circumstances incur any liability for third party claims or any consequential and/or foreseeable damages and strongly advises the Client to insure against all such potential loss, damage, expense or liability.

Insurance: It is the Client’s responsibility to insure its own property, for any mail the Client sends or receives, for personal effects and for any liability to the Client’s employees and to third parties.

Notices: All formal notices shall be in writing.

Employees: While this agreement is in force and for a period of six months after expiry, the Client may not solicit or offer employment to any of the Provider’s staff. In such events, the Provider’s loss will be treated as damages payable by the Client, and shall be equivalent to one year’s salary for each of the employees consumed.

Confidentiality: The terms of the agreement are confidential. Neither the Client nor the Provider may disclose them without the prior consent of the other party unless such disclosure is required by law or an official authority. This obligation continues for 2 years after the agreement ends.

Assignment: This agreement may not be assigned to anyone without the prior written consent of the Provider, unless such assignment is required by law.

Applicable laws: This agreement is interpreted and enforced in accordance with the laws of the Republic of Cyprus and shall be subject to the exclusive jurisdiction of the Cyprus courts.

Fees: The standard fee, plus VAT in all causes is payable on the first five (5) days of the respective calendar month in which the services are to be provided. No refund will be given for months of less than thirty (30) days. For a period of less than a month, the fees will be applied on a daily basis.

Pay-as-you-Use Services: Fees for pay-as-you-use services, plus VAT, in accordance with the Provider’s published rates, which may change from time to time, are invoiced and are payable on the first five (5) days of the calendar month which follows immediately after the calendar month in which the services have been provided.

Service retainer: The Client will be required to pay a service retainer equivalent to one month standard service fee upon the signing of the agreement. The Provider will hold this as security deposit for ensuring the performance of all obligations under the agreement. The service retainer, or any balance after deducting outstanding fees, will be returned to the Client as soon as the Client settles its account with the Provider.

Late payment: If the Client does not pay fees when due, the Provider may charge interest at the rate of 2,5% per month on the amounts outstanding. If the Client disputes any part of an invoice then the amount not in dispute shall be paid by the due date. The Provider also reserves the right to withhold services.

Annual Increase: The Provider has the unilateral right to increase the Client’s standard service fee on each and any annual anniversary of the start date of the Agreement. This will only apply to agreements of more than twelve (12) month term. Rewards do not fall under this category and will be reviewed.