Fees Agreement for Coworking Spaces
Effective Date: May 1, 2018
This Fees Agreement (this “Agreement”) provides information to Coworking Spaces on the fees Cowork7x24 will charge during booking, invoicing, dispute resolution and payment services, including Payment Protection. This Agreement is part of the Terms of Service. Capitalized terms not defined in this Agreement are defined in the User Agreement.
By continuing to use the Site or the Site Services on or after the Effective Date, you accept and agree to this Agreement.
To the extent permitted by applicable law and except as otherwise provided in the Terms of Service, we may modify this Agreement without prior notice to you, and any revisions to this Agreement will take effect when posted on the Site unless otherwise stated.
Please check the effective date often for updates.
1. BOOKING FEES CHARGED TO USERS
Pursuant to the User Agreement, Cowork7x24 charges a Booking Fee for each booking made on Cowork7/24.
The Booking Fee is set as a % total booking price paid by the users.
Depending on the nature of the booking conditions, the Booking Fees will be charged either immediately online, or later online or offline before or during the use of the Services at the Coworking Spaces as discussed in further detail in this Section 1 and in Fees Agreement for Coworkers.
Where applicable, Cowork7x24 may also collect taxes (such as value added tax (VAT) in Europe) on Booking Fees.
1.1 “WHAT YOU SEE IS WHAT YOU GET” PRICING
The booking fee (also referred to as “Booking Price”) Users see during the booking process is final, and includes any commissions or other discounts or extra possible charges or other taxes, unless tax is to be charged separately due to an applicable local law.
1.2 LISTING-FEE FOR COWORKING SPACES
There is NO listing-fee charged to Coworking Spaces for listing their meeting rooms and flexible desks and fixed desks on Cowork7x24.
1.3 TIERED BOOKING COMMISSION FOR COWORKING SPACES
We will charge Coworking Spaces the following tiered commissions based on the total price of each booking :
|Booking Type||Booking Price
(of each booking)
|Meeting Rooms, Desks, Event Spaces||€0 – €300||20%|
|Meeting Rooms, Desks, Event Spaces||€300.01 – €800||18%|
|Meeting Rooms, Desks, Event Spaces||€800.01 – onwards||16%|
|All Booking Types, When the Coworking Space is Quality Listing Compliant||all amounts||10%|
- Because of local currency conversion rates, the commission amounts may differ.
- Commissions are charged on net price after any discounts or taxes are applied.
- Cowork7x24 holds the right to make time-based special price and discount agreements with Coworking Spaces.
2. PAYMENT PROCESSING FEES CHARGED TO COWORKING SPACES
2.1 PAYMENT PROCESSING FEES FOR COWORKING SPACES
Starting on or after the Effective Date, we will charge the Coworking Spaces the payment processing and administration fees if charged by our bank during the payment process except as otherwise provided in this Agreement.
This fee will be capped maximum at 2.75% of the total booking fee, if it has to be incurred.
For cases where the Coworking Space is collecting the booking fee on the spot, we do not charge any payment processing fee.