Terms and Conditions - Alcove Broker Referral Program

1. OVERVIEW

1.1 These terms and conditions (“Terms and Conditions”) apply to leases in our co-living homes.

1.2 The submission of any referral to ALCOVE indicates acceptance of our terms and conditions. ALCOVE 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:

(a) “Broker” refers to either a broker and/or an agent as the case may be; and

(b) “Completed Sale” means sale where (i) the client has signed a lease agreement and (ii) it has paid its deposit.

2. BROKER FEES

2.1 We will compensate a Broker in return for the referral of new clients which lead to a Completed Sale.

2.2 Following a Completed Sale, we will pay the fee as stated on the Broker Referral Program, as a single payment:

2.3 Unless otherwise stated by ALCOVE, the Broker is eligible for

3. REFERRAL SUBMISSIONS

3.1 Every referral must be submitted via an ALCOVE approved channel to qualify for a Commission or an Additional Commission (if applicable) on a Completed Sale. These include our Broker Referral Program form, website, or directly to an ALCOVE team member in writing.

4. COMMISSION PAYMENT CONDITIONS

4.1 Commission shall be paid to a broker who submits a referral to ALCOVE 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.

4.3 If one or more brokers make a referral that is substantially the same opportunity as a referral previously made directly to ALCOVE (i.e. ALCOVE 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.

4.4 Payment will be made following receipt and processing of a valid invoice from the Broker.

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

4.6 All payments will be made by Bank Transfer or if in North America by ACH.

4.7 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). ALCOVE 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.

4.8 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 accord with its Commercial Arbitration Rules (available at www.adr.org), except that ALCOVE 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. ALCOVE and the broker acknowledge that these Terms and Conditions are a transaction in interstate commerce governed by the Federal Arbitration Act. ALCOVE 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.

If you have any questions please contact the Broker Help Desk by email: support@alcoverooms.com