Broker Partnerships

Broker terms and conditions

Effective 11/8/2024

1. 1. Overview

   1.1 These terms and conditions (“Terms and Conditions”) apply to the following products: Enterprise Suite, Private Office, Hybrid or Unlimited Memberships, Dedicated Desk, Virtual Office,TeamShare and Synergy Suites.

   1.2 The submission of any referral to Workbar indicates acceptance of our terms and conditions. Workbar reserves the right to amend or terminate these conditions at any time without prior notice.

   1.3 The Real Estate Broker/Agent Referral Program is reserved for commercial Real Estate Brokers/Agents and residential Real Estate Broker/Agents.

   1.4 In these Terms and Conditions:

   • “Broker” refers to either a broker and/or an agent as the case may be; and
   • “Completed Sale” means sale where (i) the client has signed a service agreement and (ii) it has paid its initial invoice for the service retainer and its’ first month of occupancy.
     
     
2. Broker Fees

2.1 We will compensate a Broker in return for the referral of new clients which lead to a Completed Sale (new clients are clients that are not existing Workbar members and clients that are not in Workbar’s system as existing opportunities).

2.2 Following a Completed Sale, we will pay, as a single payment upon receipt of a valid invoice from the broker.

2.2.1 For all locations and/or products not specified in section 2.2.2 and 2.2.3 , 10% of the monthly office fee in respect of Suite, Office, Memberships (Hybrid, Unlimited, Dedicated Desk, or TeamShare) and Virtual Office multiplied by the number of months that the initial agreement covers up to a maximum of the first 12 months of the agreement term made (“Commission”) ; Workbar will pay an additional 2% of the monthly office fee for every month thereafter up to 36 months.

2.2.2 Synergy Suites, 10% of the monthly office fee multiplied by the number of months that the initial agreement covers up to a maximum of the first 12 months of the agreement term made (“Commission”).  Workbar will not pay on renewals or expansions for the Synergy Suite product. For any avoidance of doubt, sections 2.4 and 2.5 do not apply to the Synergy Suite product.

2.2.3 Workbar Worcester, 15% of the monthly office fee in respect of Suite, Office, Memberships (Hybrid, Unlimited, Dedicated Desk, or TeamShare) and Virtual Office multiplied by the number of months that the initial agreement covers up to a maximum of the first 12 months of the agreement term made (“Commission”) ; Workbar will pay an additional 2% of the monthly office fee for every month thereafter up to 36 months.

2.3 If during the first 12 months of the agreement (the “Initial Term”) a client expands their presence with Workbar, with involvement of the broker on record, we will pay a further 10% commission on the uplift value of the monthly fee for the remaining part of the Initial Term only upon receipt of a valid invoice. For the avoidance of doubt, such additional commission shall be paid in respect of the uplift only and not in respect of the Commission (“Additional Commission”).

2.4 Where an agreement is a month-to-month agreement, the equivalent of 3 months’ commission will be paid upon a Completed Sale for that first month and upon receipt of a valid invoice. After the 3rd month, if the client remains a member of Workbar, commission will be paid in arrears upon receipt of a valid invoice for each completed month that the client remains a client, for a maximum of a further 9 months. For the avoidance of doubt, cancellation and re-signing of agreements by a client will not qualify for this advance commission payment.

2.5 If after the Initial Term of the agreement a client renews their presence with Workbar, with involvement of the broker on record, we will pay a further 2% commission on the renewal value of the monthly fee for Renewal Term upon receipt of a valid invoice.

3. Referral Submissions

3.1 Every referral must be submitted via a Workbar-approved channel to qualify for a Commission or an Additional Commission (if applicable) on a Completed Sale. These include our website or directly to accountspayable@workbar.com.

4. Commission Payment Conditions

4.1 Commission shall be paid to a broker who submits a referral to Workbar that results in a completed sale unless the circumstances described in either clause 4.2 or clause 4.3 occur, in which case either clause 4.2 or 4.3 shall apply respectively.

4.2 If two or more brokers make a referral that are substantially the same opportunity, and a sale is completed in relation to this opportunity, then the broker who submitted the referral first shall be paid the Commission, unless the final tour is completed prior to a sale being made was booked by a different broker, in which case the broker who booked this tour will be paid the Commission instead.

4.3 If one or more brokers make a referral that is substantially the same opportunity as a referral previously made directly to Workbar (i.e. Workbar received the referral directly before receiving it from any broker) and a sale is completed in relation to this opportunity, no commission shall be payable to any broker unless the final tour completed prior to a sale being made was booked by a broker, in which case the broker who booked this tour will be paid the Commission if approved by the CEO and CFO of Workbar.

4.4 Payment will be made following receipt by Lauren Coyle (lauren.cole@workbar.com) and processing of a valid invoice from the Broker. This payment will occur within 30 days after the start date of the Completed Sale.

4.5 Invoices must be received within 120 days of the Completed Sale.

4.6 All Commission will be paid to the named brokerage company and not to an individual Broker.

4.7 The maximum payment amount shall be no more than 100,000 USD on any single Completed Sale (in respect of Commission and any Additional Commission, in aggregate).

4.8 All payments will be made by check or ACH at Workbar’s sole discretion.

4.9 If a Commission and any Additional Commission has been paid and a client defaults during the agreed term, we will be entitled to recoup the pro-rated Commission and any Additional Commission for the period in which the client is in default. This can be done via an invoice request or a deduction from another Commission. Where this is done by invoice, the Broker shall promptly repay such sums.

4.10 Any dispute arising pursuant to these Terms and Conditions is interpreted and enforced in accordance with the law of the place where the relevant center is located (subject to paragraph 4.10 below). Workbar and the Broker both accept the exclusive jurisdiction of the courts of such jurisdiction. If any provision of these Terms and Conditions is held void or unenforceable under the applicable law, the other provisions shall remain in force.

4.11 AGREEMENT TO ARBITRATE; CLASS ACTION WAIVER (United States of America ONLY): Any dispute or claim relating in any way to these Terms and Conditions shall be resolved by binding arbitration administered by the American Arbitration Association in accordance with its Commercial Arbitration Rules (available at www.adr.org), except that Workbar or the Broker may assert claims in small claims court. The arbitrator shall have exclusive authority to resolve any dispute relating to the interpretation, applicability, enforceability, or formation of this agreement. The arbitrator shall not conduct arbitration as a class or representative action. Workbar and the broker acknowledge that these Terms and Conditions are a transaction in interstate commerce governed by the Federal Arbitration Act. Workbar and the Broker agree to waive any right to pursue any dispute relating to these Terms and Conditions in any class, private attorney general, or other representative action.