Broker Terms and Conditions London

Date added: 17/12/2024

1. Earning Commission

• If a broker introduced a tenant to sub800 and they sign both Contracts below, you will receive commission for the referral:

  • A sub800 Services Contract (for sub800’s Partnership Services)

  • A Landlord Lease Contract (for renting the workspace)

• Commission is at a standard 10% (unless a sub800 promotion is in place). The 10% commission consists of the first year’s annual list price (rent, service charge, insurance and sub800’s Partnership Services) (excluding business rates and utilities) exclusive of VAT.

• Sub800 shall promptly notify the Broker in writing as soon as practicable after entering into a sub800 Services Contract.

• The Broker shall invoice sub800 for the Commission payable in accordance with these terms and conditions, together with any applicable VAT, and the due date for payment by sub800 of such Commission shall be 30 days from date of receipt of invoice.

• In the event the customer, does any of the below, sub800 shall be under no obligation to pay the commission to the broker:

  • Fails to move into their workspace

  • Delays or fails to pay the fees under their sub800 Services Contract and/or Lease Contract

  • Breaches any of the terms in the sub800 Services Contract and/ Lease Contract

• If a sub800 Services Contract or Separate Landlord Lease Contract includes a tenant’s break clause within the first year, sub800 will split the Commission into up to three payments:

  • The first two payments will:

    • Be equal in amount.

    • Together, they’ll cover the total commission owed up to the break clause date (with adjustments to the rent figure as needed).

  • If the tenant doesn’t use their break clause, there will be a third payment. This payment will be the remaining commission owed, calculated as if the break clause didn’t exist, minus any earlier payments.

2. Making a Referral to sub800

• Provide details of the customer to sub800 via telephone (0207 052 3025) or email (enquiries@sub800.com)

• Sub800 will work to arrange viewings of the workspace

• When the customer attends the viewing, this counts as a successful referral

3. Overturning Process

• sub800 work on a building-by-building basis.

• If the same client wants to view the same workspace

  • If your client wants to view on the same workspace as different broker, the viewing will be declined for the second broker. This positioning is held for a period of 3 months.

    • . Sub800 will accept letters from the client to be able to overturn positioning.

• If the same client wants to view a different workspace

  • Sub800 will accept the viewing based on who books in the viewing first for the workspace.

    • Our sales team will endeavor to confirm the first broker that their client is viewing elsewhere with other brokers.

• Commission will only be payable to the broker who wins the deal on the secured workspace.

4. Early Termination

• If the contract ends early within the first year (for any reason), the Broker must return part of their commission. The amount to be refunded will depend on how much of the year the contract was in effect

• The Broker must pay back the refund within 30 days of the contract’s termination.

5. Terms Eligibility

• By sending leads and booking viewings to sub800, you are agreeing to these terms (updated from time to time)

6. sub800 Broker Partnership

• The broker should not make decisions, sign contracts or agree to anything in sub800’s name.

• Brokerages should not use sub800’s name, logo or trademarks on any marketing materials without the prior written consent of sub800.

• Brokerages should not, without sub800’s prior written consent, advertise workspaces from any sub800 website or portal.