Terms & Conditions | Leaders of Tomorrow

TERMS AND CONDITIONS – Leaders of Tomorrow

1. FACILITIES ANDSERVICES

(a) In consideration of the payment by the Member of the Monthly Plan Fee specified overleaf, TEC permits the Member to use the Plan Inclusions and Services governed and defined by this Agreement from the Commencement Date until terminated in accordance with the provisions of this Agreement.

(b) Definition: TEC Coworking Space is either a shared lounge or shared office space in a collaborative work environment. Workspaces are available on a first-come, first-serve basis.

(c) TEC shall provide the Member with the subscribed Service Plans (“Plan Inclusions") specified:

Leaders Of Tomorrow Basic Membership:

I. Unlimited access to designated coworking lounge/centre

II. Member referral incentives, where each Member who has enlisted successful referrals to any LOT membership is entitled to a monetary rebate equal to 10% of the referred Member’s Total Contract Value

III. Access to all regional centres upon completion of one-time joining fee payment at the discretion of TEC. (excluding Philippines)

IV. 20% off all Virtual Office plans

V. Full Mobile App access includes Membership Directory, Online Forum, Booking System and Event Registration

VI. Access to full scope of Global events and webinars held within TEC

VII. Access to full scope of Member benefits, discounts and deals, available to TEC Members through third party partners and suppliers

Leaders Of Tomorrow Premium Membership:

i. All services included within LOT Basic Membership

ii. One-time complimentary access to host a pop-up booth or online webinar to showcase their company/brand. TEC

reserves the right to determine the logistics of this opportunity and its designated period.

iii. 50% discount upon booking of select meeting rooms

iv. 50% discount upon 10-Hour Meeting Package at all TEC Centres

v. 5 complimentary Day Passes for guest usage

Leaders Of Tomorrow Professional Membership:

I. All services included within LOT Basic and Premium Memberships

II. Access to 1-on-1 Mentoring Session With TEC Managers/Community Members

Service Plans are subject to the following conditions:

i. Subscriptions are for designated users only, are non-transferrable and cannot be shared by any third party.

ii. Coworking Space and TEC lounge usage is only limited to the subscribed user.

iii. In the event where the Member’s designated Coworking Space is temporarily unavailable, TEC reserves the right to provide an alternative Coworking Space for the Member.

iv. Access to other TEC centres (Lounges) is allowed only if the Member has successfully paid the initial joining fee, which will grant them access to all Centres in their respective region.

v. TEC reserves the right to impose charges on the usage of non-subscribed services.

vi. A deposit, worth the value of 1 month as according to the Member’s Service Plan, shall be required for 6-month and 12-month contracts.

vii. When a Member’s age outstrips the scope of LOT, a graduation pricing programme shall be implemented to transit the Member from LOT to TEC’s standard pricing. For 3 years following the end of the Member’s participation in LOT, their Service Plan shall increase by 10% of contract value year on year. At the end of this period, the Member shall be subject to TEC’s standard pricing. If a Member exceeds the age limit of LOT during a 6-month or 12-month contract, they shall be entitled to retain LOT pricing until the end of the contract. After, they shall be subject to the aforementioned graduation pricing programme to transit to TEC’s standard pricing.

viii. TEC may at any time, without notifying the Member, make any changes to the Specified Service which are necessary to comply with any statutory requirements and/or which do not materially affect the nature or quality of the Specified Service.

ix. Any other changes or additions to the Specified Service or to these Terms will be notified to the Member in writing by TEC, in advance of those changes taking place.

(d) The following additional Business Services are available in accordance with TEC’s published rates updated from time to time. It is clarified that these Services are available to all Members on an optional basis and may be subject to additional charges during non-operating hours:

· Dedicated secretarial, accounting, errands, or other business services

· Food and beverage services

· Courier services

· Photocopying and scanning

· Translations

· Car parking

· Business Licensing Assistance

· Office supplies

· Video conferencing

· Meeting and conference rooms

· Other services

2. SIGN UP AND BILLING

(a) The Member is required to provide at least 1 form of valid photo ID, proof of address and proof that the Member is below 28 years of age, which can be fulfilled by valid photo ID. TEC reserves the right, at its absolute discretion, to terminate the membership if the documentation is not received or TEC at its sole discretion suspects the documentation is not genuine.

(b) Where applicable, Members who select to pay invoices by credit card irrevocably authorise TEC, on the invoice due date, to deduct from the Member’s credit card the Membership Fee plus relevant local taxes or subsidies payable in advance, and all Services billed in arrears. In respect of any partial period, a pro- rata adjustment shall be made.

(c) Payment is due 7 days from the invoice issue date. Should payment not be received 7 days from the invoice issue date, access to your Centre will be denied and an administrative fee of 1.5% (one point five percent) referred to as “Penalties" per month will apply on the overdue balance until payment has been received by TEC.

(d) In the event that the Member does not pay within 30 days from the invoice issue date, the total amount as stated on an invoice, TEC shall be entitled to:

i. Suspend partial or all services provided by TEC to the Member including, but not limited to telephone and mail service.

ii. Block Member access to the workplace.

iii. Claim all costs including legal fees associated with recovering all monies owed to TEC from the Member.

iv. Charge a reactivation fee, which is at the discretion of TEC.

(e) During the collections period, any services you continue to receive (restricted or otherwise) may still generate fees and charges. Any suspended service will be resumed upon receipt of all outstanding amounts.

(f) The Member shall pay the total amount stated on the invoice to TEC without any deduction or set off whatsoever.

(g) The Member shall pay for all bank charges, exchange rate differences, currency adjustments and other such charges related to the Plan Fee and Penalties.

3. DEPOSIT

(a) For all plans listed under 1(c), the Member shall pay to TEC the Deposit upon the signing of the Agreement and at most no later than 5 business days. The Deposit shall be returned to the Member within 60 days after the End Date of this Agreement with Member bank details, provided that the Member has complied with its obligations under this Agreement and subject to the deduction of an amount in respect of outstanding Invoices and Penalties according to TEC. TEC shall have the right to terminate this Agreement if the Deposit is not received timely.

(b) Neither the giving of the Deposit nor any deduction from it by TEC shall relieve the Member from any of its obligations under this Agreement nor otherwise limit the right of TEC to recover against the Member for any breach of this Agreement found during or after the End Date of this agreement.

(c) TEC has a full right to the Deposit with regard to a breach of this Agreement by the Member. In the event of any withdrawal from the Deposit by TEC due to default from the Member, the Member shall replace any such sum withdrawn within 14 days of being notified of such withdrawal.

(d) If the Member fails to provide sufficient information to return the Deposit within 360 days after the End Date of this Agreement, the Deposit shall be deemed forfeited to TEC without any Member Approval or notification.

4. TAXES

Any amount payable by the Member under this Agreement will be exclusive of local taxes, including, but not limited to goods and services tax. If any supply made by TEC under this Agreement is a taxable supply, TEC must provide the Member with a valid invoice usable for taxation purposes and the Member must pay an additional amount to TEC which is equal to the consideration payable by the Member for relevant supply multiplied by the prevailing local tax rate.

5. TERMINATION

Termination of this Agreement will be subject to the following terms:

(a) This agreement shall automatically roll over for successive periods equal to the first period unless either party gives written notice to terminate the agreement at least 30 days prior to the current licence period.

(b) The Member will be released from its obligations under this Agreement and allowed to terminate prior to the End Date of this Agreement subject to the Member paying TEC the full Plan Fee for the unexpired term together with all other outstanding invoices and Penalties (if any). Upon settlement of these terms received by TEC, any Deposit will then directly be refunded to the Member.

(c) This Agreement may be terminated forthwith in the event of any breach of the obligations on the part of the Member. TEC shall be entitled (but not obliged) to retain any personal effects or other belongings of the Member until all arrears owed to TEC have been paid or other loss made good. In the event of non-payment within 14 days TEC shall be entitled to dispose of any goods retained in settlement of any arrears and any cost of such disposal without prior notice or approval.

(d) The Executive Centre reserves the right to terminate this agreement if there is inappropriate activity or incident caused by the Member.

(e) If the Member terminates its subscription, the Member must return all keys (if any) and other means of access to the Centre, cease to use TEC’s address on all of its company documents, business registration, and marketing materials. TEC reserves the right to continue billing the Member at listed plan rates for each month that the Member continues to utilise TEC’s information on said documents and materials beyond the End Date of this Agreement, and to litigate if it deems appropriate. In the event the Member has lost any keys or access cards to the Centre, the Member must pay the replacement fee of such lost items.

6. REFUNDS

The Member shall have 14 days to dispute a charge from the invoice due date. TEC will only provide a refund in the event that an incorrect amount has been charged to the Member.

7. MEMBER’S RIGHTS AND RESPONSIBILITIES The Member shall not:

(a) Conduct himself/herself in an unprofessional and irresponsible manner or act in any way that may cause nuisance, annoyance or injury to the other Members/users of TEC centres.

(b) Occupy space for commercial display, product display, storage, lodging, sleeping, or for immoral or illegal purposes.

(c) Leave personal belongings unattended. TEC is not responsible for any loss or damage of personal belongings.

Unattended personal belongings might be removed by on-duty TEC team members.

(d) Impede or interfere with TEC’s right of possession, control of the Centre and operations.

(e) Use the Centre otherwise than for the Member’s business and in any event shall not permit the Centre, Plan Inclusions or Services provided, to be used for any illegal activity.

(f) Interfere with the conduct of TEC’s business and during the term of this Agreement and for 6 months thereafter shall not offer employment to or hire directly or indirectly any staff of TEC. If the Member employs directly or indirectly any member of TEC’s staff during such period, the Member shall pay to TEC within seven (7) days of the said member of staff commencing his or her new employment a recruitment fee equal to 25% of the said first year gross salary or hire costs including guaranteed bonuses or benefits.

(g) By way of commission payable to TEC by the Member, the Member agrees that, in the event that the Member entices, convinces or otherwise causes an existing Member of TEC to vacate the Premises, to pay to TEC a commission equal to 12-month’s rental of the company that has been enticed or convinced to vacate the Premises.

(h) Alter, install, remove nor damage any furniture, fixtures, decorative materials, office equipment, IT cabling and telecommunications tools from within TEC’s Coworking Space, allocated desks, dedicated workspaces and common areas, in which the Members have had access. TEC shall have the right to claim compensation from the Member for repairs, replacement, loss or damages.

The Member shall:

(i) Observe and adhere to all the rules and regulations updated from time to time made by TEC for the management of the Centre.

(j) Agree that TEC’s Coworking Space, allocated desks and dedicated workspaces are under 24-hour CCTV surveillance. TEC will only provide CCTV footage based on the request of local law enforcer, complying to local enforcement law.

(k) Be liable for any damage caused by the Member or by those in TEC Centres with the Member’s permission or at the Member’s invitation, whether express or implied including but not limited to all the Member’s employees, contractors, agents or other persons present at TEC Centres. In the event of such damage, TEC shall be entitled to take all steps necessary to rectify the same.

(l) Be required to formally check in and check out of the Centre upon both entry and departure.

(m) Vacate the daily allocated office unit along with all personal belongings prior or at the end of every business day. This only applies to Day Office (10 days) or Day Office Members.

8. OWNER’S RIGHTS AND RESPONSIBILITIES TEC shall:

(a) Keep the facilities in the Centre in working order and properly cleaned and equipped.

(b) Have the ultimate right to remove the Member from their designated Centre.

(c) Provide the Member with an alternative centre should TEC require the Member to move during the term or subsequent terms of this Agreement.

(d) Provide reception, switchboard and other Business Services during normal business opening hours, Monday to Friday (excluding official public holidays). Subject to TEC’s discretion which will be communicated to all Members well in advance.

(e) Not be under liability for any trespassing or access of non-authorised or non-TEC service subscriber into the Premises in case of emergency.

(f) Have the right at any time to access and enter the allocated desk and dedicated workspace to carry out inspection, to make repairs and alterations, and provide services and cleaning, subject to prior verbal approval by the Member except in the case of an emergency, mail delivery or cleaning service, where no such verbal approval needs be obtained.

(g) Reserve the right to allocate a full business day of coworking usage to the Member’s account should the Member not check in or check out of the Centre when TEC has reasonable belief that the Member accessed the premises. TEC Team will openly communicate this with the Member before any final allocation is made.

(h) Reserve the right to provide the Member with alternative allocated desk and/or dedicated workspace should there be any reasonable operational requirements.

9. INDEMNITY

(a) TEC shall not be under liability for failure to have any of the Centre facilities available for the Member because of use by any other person within the Centre and TEC shall not be liable to the Member if for any temporary reason the Member is unable to obtain access to the Centre.

(b) TEC is not responsible for the theft of or damage to any equipment, chattels or goods whilst the Member is a tenant of TEC.

(c) The Member shall not be entitled to any compensation as a result of any failure of data security or computer systems or as a result of TEC failing to provide any of the Plan Inclusions or Services in accordance with this Agreement as a result of any breakdown or strike or delay or failure of any staff, manager or caretaker to perform their duties.

(d) The Member shall indemnify TEC and its respective officers, employees and agents, from all claims, liability, or loss, and all damages and costs incurred by TEC which arise from the use of the Plan Inclusions or Services. The Member shall be required to maintain sufficient public liability insurance to cover such potential liability.

10. GENERAL

(a) Leaders of Tomorrow Membership allows LOT Members access to the Coworking Space of one TEC centre, online access to the MyTEC client portal, TEC’s Mobile App and associated LOT member benefits. If a Member decides to cancel their Membership, access to all of the above will be halted.

(b) This Agreement is personal and is not assignable.

(c) All notices must be in writing or email. Notices to either party will be considered served if mailed by registered post or by email to the address or emails specified overleaf

(d) The invalidity or unenforceability of any provision of this Agreement shall not affect or impair the validity of any other provision. No waiver of any default of the Member shall be implied from any failure by TEC to take action with respect to such default.

(e) Where the Member comprises more than one individual, such individuals shall be jointly and severally liable to observe and perform the Member’s obligations under this Agreement.

(f) This Agreement supersedes any prior agreements and embodies the entire Agreement between the Member and TEC and may not be modified, changed or altered in any way except as agreed by both parties in writing. This Agreement shall be interpreted and enforced in accordance with the national and local laws in which the Centre is located.

(g) Membership is non-transferrable to other parties or individuals, without the express permission of The Executive Centre.