Platinum Buyer Program Terms and Conditions
By signing the Platinum Buyer Program Agreement, you are accepting the terms of this Agreement in full. The Agreement is effective from the day of signing (“Effective Date”), by and between the Client ("Developer" or “Referral Buyer”) and BDM Media Pty Ltd and it’s associated businesses, brands and partners (“Referral Supplier”).
GENERAL PROVISIONS / TERMS - Starting from the Effective Date, the Referral Supplier agrees to grant to the Referral Buyer, a non-exclusive, non-transferable and royalty-free licence to use the Intellectual Property and Marketing Materials for the purposes of attracting Leads for the Referral Buyer or its partner or associated businesses and in a manner consistent with the intent of the Project for the term that the Referral Agreement is in place, and to include the payment of all referral commission payments that arise during and after the Platinum Buyer Program, for Leads supplied by the Referral Supplier. The Referral Supplier retains ownership of all marketing materials and intellectual property used for the purpose of delivering the service. The services of the Platinum Buyer Program are outlined in the Platinum Buyer Program Concept plan, which is subject to change at the Referral Supplier's discretion.
The Referral Buyer is entering into an agreement to secure Leads and sales in the Waterlea Estate. Leads are buyer prospect contacts that have responded to advertising or media used in the Platinum Buyer Program. The Referral Supplier provides services to screen and segment Leads, some of which are to be supplied directly to the Referral Buyer, whilst others will undergo lead nurturing programs provided by the Referral Supplier and it’s aligned businesses and brands.
All leads generated in the Platinum Buyer Program are the property of the Referral Supplier. On receipt of payment of the $22,000 operating fee for each month, all leads generated for the month are to be shared with the Referral Buyer, who has the right to use those leads at their own discretion. Should the Platinum Buyer Program agreement be terminated, both parties have the right to use the leads.
A record of all leads and their contact details is to be made available to the Referral Buyer on request and via access to an agreed lead information portal. Qualifying Leads will be forwarded to the Referral Buyer by Referral Supplier. All Leads are generated directly by the Referral Supplier and it’s associated businesses and brands. Leads can include prior contacts in the Waterlea database that are activated by the Platinum Buyer Program. Referral Buyer understands and agrees that all Leads received will be considered legitimate and will be charged as such. However, the Referral Buyer may dispute bogus Leads and both Referral Buyer and Referral Supplier will review records. Credit for disputed Leads will only be given under the following conditions or circumstances:
- Lead is received containing bogus contact information for all details provided.
- Lead is received from competitor or some other entity not looking for specific services provided by Referral Buyer.
- Lead is received that is outside the scope of agreed upon Lead types. (Prospective home buyer)
- Duplicate Leads / Repeat callers
PAYMENTS, TERM AND TERMINATION
Referral Buyer understands that Referral Supplier is providing sales Referrals, and is paid for agreed costs and a commission structure on sold customers.
The Referral Buyer agrees to pay for the costs of the Platinum Buyer Program as outlined below.
Referral Buyer Setup Investment
50% of Setup fee $46,000 = $23,000 - Payment due (Date :Tuesday 21st January 2020)
Referral Buyer Operations Investment
3 x $22,000/month to be paid at the start of each month - Feb 10, March 10, April 10, 2020
Sale Commission Structure to Referral Supplier
$8500 commission for each sale/quarter up to 15 sales
$10,000 commission for all additional sales for the quarter beyond 15 sales.
Commission payments to start when the number of sales/quarter x $8500 exceeds a total of $66,000 (3x$22,000 operating fee).
Referral Supplier to invoice Referral Buyer for all sales commissions over the $66,000 (3x$22,000) operating fee for the qtr, which the referral buyer agrees to pay within 7 days of invoice.
Referral Commission to be fully reconciled May 10 and subsequent quarterly dates.
Sales numbers for commissions to reset at the start of each quarter.
$1000 Referral Fee paid to Referral Buyer for each sale to a property other than Waterlea for a lead generated by the Referral Supplier who after being recommended to buy in Waterlea, proceeded to buy a new property not in Waterlea, through the New Home Professional team.
Spending Planner Fees - The Referral Buyer agrees to pay a 'Spending Planner Service fee' (approx. $1500-2000) for approved buyers requiring assistance.
The Referral Supplier agrees to provide to the Referral Buyer the number of buyer referrals requested. Referral Supplier will notify Referral Buyer in writing where referral numbers are unable to be achieved for any given request. Referrals to be delivered via SMS and or email each day with monthly reporting of all leads generated. The number of Referrals for the area may be above or below the allocated number for each area requested by the Referral Buyer, provided the total combined number or Referrals are supplied. The Referral Supplier can provide additional referrals beyond the agreed provision and can ‘bank’ these additional referrals to offset shortfalls in referral numbers in proceeding periods.
Payment will be made via bank transfer, direct debit (ezidebit) or other provider as provided by Referral Supplier). No refunds will be given. If at any point in time, the Referral Buyer fails to pay the agreed payments, the Referral Supplier reserves the right to put the Buyer Referral Partnership Program on hold until the Referral Buyer pays the requested Buyer Referral Fees and commissions. If the Referral Buyer fails to pay the fees or commissions within 7 days of the initial request, the Referral Supplier reserves the right to cancel the agreement without notice. This Agreement is ongoing from the initial start date for an initial term of 12 weeks and continues until the Platinum Buyer Program is ended in writing (email) with no less than 28 days notice.
Payments to be made via either direct debit links or to:
BDM Media PTY LTD
Account Number: 1038 9493
INDEPENDENT CONTRACTOR - This Agreement shall govern the relationship of the parties, which shall be that of an independent contractor. Nothing in this Agreement shall be construed so as to create an employer —employee relationship. Referral Supplier is an independent contractor in relation to Referral Buyer. No agency relationship or joint venture is created by this Agreement. Referral Supplier shall have no authority, express or implied, to enter into contracts with third parties or make representations on behalf of Referral Buyer without its express written consent. Referral Supplier understands they are an independent contractor and is therefore solely responsible for all self-employment taxes and any federal, state and local taxes or fees that may arise from the independent contractor relationship.
LICENSED AREA - The Referral Supplier agrees to provide the referral services to the Referral Buyer in the Ipswich and surrounding region.
MODIFICATION - This Agreement may be amended from time to time by mutual consent. Any amendments to this agreement must be in writing and signed by both parties.
INDEMNIFICATION - To the fullest extent admissible by law, the Referral Supplier will not be held liable to the Referral Buyer for any damages, including without limitation any direct, indirect, special, punitive, incidental, or consequential damage (including but not limited to damages for loss of business profits, business interruption, loss of information, loss of profits or goodwill or loss of use of facilities or equipment), or any other damages arising from the negligence of Referral Supplier or otherwise. Where liability cannot be legally excluded, the liability of Referral Supplier is limited to $2000.
The Referral Buyer agrees to indemnify and hold harmless Referral Supplier, its affiliates, subsidiaries, agents, officers and other partners and its respective employees from and against all damages, liabilities, actions, causes of action, claims, suits, losses, demands, costs and expenses (including without limitation reasonable legal fees, disbursements and court costs) arising from or in connection with the Referral Buyer’s information and the Referral Buyer’s use of Referral Supplier’s Platinum Referral Program services.
Sales targets are estimates only.
AUTHORISATIONS - Authorisation to use Referral Buyer pictures, logos, trademarks, website images, pamphlets, content, etc., for any use as deemed necessary by Referral Supplier for referral and marketing purposes. The Referral Buyer agrees that their personal data may be used and retained by the Referral Supplier for the purposes of –
· - Delivery of Goods and Services.
· - Marketing of Goods and Services
· - Processing of payment instructions
The Referral Buyer guarantees any elements of text, graphics, photos, designs, trademarks, or other artwork provided to Referral Supplier for inclusion on referral services are owned by the Referral Buyer, or that the Referral Buyer has received permission from the rightful owner(s) to use each of the elements, and will hold harmless, protect, and defend Referral Supplier and its subcontractors from any liability or suit arising from the use of such elements.
ENTIRE LICENSE AGREEMENT - The parties have read this Agreement and agree to be bound by its terms, and further agree that it in combination with the proposal document constitutes the complete and entire agreement of the parties and supersedes all previous communications, oral or written, and all other communications between them relating to the agreement and to the subject hereof.
GOVERNING LAW - This License Agreement shall be governed by and interpreted in accordance with the laws of the State of Queensland and both parties submit to the jurisdiction of the courts of that State