AltF and the Customer are, hereinafter, collectively referred to as the “Parties”.
AltF is in the business of co-working and providing office spaces, workspaces, conference room space to small and medium enterprises, startup companies, multi-national companies, independent workers, consultants etc. along with various services.
- The Customer, Customer’s employees and authorized representatives agree that it will not falsely represent an association with any company, impersonate any third party, or otherwise submit or present any false or misleading information to AltF or any customer or person associated with AltF.
- The Workspace and Services shall be used only for business purposes and the Customer acknowledges that it shall not use the Workspace and Services for private use.
- The Customer, Customer’s employees and any authorized person who will be entering the Demised Premises or using the Workspace and Services agree to subscribe to the KYC norms of AltF and will be required to provide AltF with a valid Government ID, phone number and photograph and any other such similar documents and information as required by AltF.
- That in consideration of the payments to be made by the Customer, as set out herein and in the Agreement and the Parties agreeing to comply with the covenants and conditions mentioned herein and in the Agreement, AltF will grant temporary use and occupation of the Workspace and provide Services to the Customer commencing from the Start Date (“Effective Date”) till the tenure of the Agreement (“Term”).
- As per the agreement between the Parties, the Customer shall pay a monthly fee in consideration of the Workspace and Services (“Fee”). The Fee shall be payable from the Effective date. At the time of the reservation of the Demised Premises, an advance of the Fee will be required to be paid by the Customer to AltF which shall be equal to the security deposit unless otherwise agreed by the Parties.
- The Fee shall be payable on a per-room basis or a per-seat basis.
- The Fee shall be escalated by 5% (five percent) upon the completion of every 12-month period from the Effective Date.
- The Fee shall be paid on or before the 7th day of every calendar month, in advance for the month for which the Fee is due. In case of delay in payment of the Fee, an interest at the rate of 1.5% (one decimal five per cent) per month shall be chargeable per annum. The Fee shall not be deducted from the Security Deposit.
- On receipt of any payment from the Customer, AltF shall first apply such payment towards any balances which are in arrears and to the earliest month due ﬁrst. Once past balances are satisﬁed, any remaining portion of the payment will be applied to the subsequent Fee payable.
- In the event of termination by the Customer during the lock-in period as specified in the Agreement, the Customer shall be liable to pay the Fee for the remaining lock-in period.
- Use of the Workspace and Services may be immediately suspended, and eventually terminated if payment of the Fee is not received.
- Goods and Service Tax or any other tax/ statutory dues as per the applicable laws on the Fee payable, if applicable, shall be the sole liability of the Customer and shall be payable to AltF, in addition to, and along with the Fee.
- The Fee shall be subject to the deduction of income tax at source. The Customer shall be solely responsible for deposit of the taxes so deducted from the Fee with the appropriate authority within the stipulated time and shall be solely responsible to furnish the certificate of the same to AltF. The Customer unequivocally agrees to indemnify AltF for any loss / inconvenience caused, and actions required to be taken on account of a default by the Customer in this present obligation. In addition, and without prejudice to the above, if the Customer fails to submit the TDS certificate and amount, the same may be deducted from the Security Deposit.
- The Customer shall provide AltF with a copy of the Customer’s GST registration certificate containing all such information as required under law.
- The Customer shall ensure that the GST inward supply return (GSTR2) is filed correctly and shall declare correct information on the GST portal. In case of any mismatch in information the Customer shall promptly make amendments or take such corrective measures to ensure that AltF does not suffer any loss of credit due to such mismatch.
- The Customer acknowledges that the place of supply as per the laws applicable to GST in India shall be the place of supply as determined by the location of the Demised Premises.
- The Customer shall be solely responsible for performing all compliances and making payments of GST, cesses, interest, penalties or any other tax/ duty/ amount/ charge/ liability / dues arising either out of laws/ regulations applicable in India and overseas or because of a demand/ recovery initiated by any revenue authority under laws/ regulations applicable in India or overseas.
- Security Deposit
- AltF shall refund the Security Deposit upon the expiry of the Agreement or its early termination, after adjusting any outstanding dues from the Customer, including but not limited to taxes deducted at source which have not been deposited by the Customer. However, the Security Deposit may not be refunded by AltF if the Customer terminates the Agreement during the lock-in period as specified in the Agreement.
- The Fee payable by the Customer shall not be deducted from the Security Deposit even though the same may be paid in lieu of advance by the Customer. The refund or deduction of the Security Deposit shall be purely in accordance with the terms herein.
- The Customer shall use the Workspace only for the purpose stated in the Agreement or as subsequently agreed with AltF. The use of the Workspace for retail purposes involving frequent visits by members of the public is not permitted.
- Children below 9 years will not be allowed on the Demised Premises. No pets/animals will be allowed in the Demised Premises.
- The Customer shall not carry on a business which competes with the business of AltF as specified in Clause 1.1.
- The Customer shall not be permitted to use the name of AltF in any way or in connection with the business of the Customer. The Customer shall not take, copy or use for any purpose the trademarks, service marks, logos, other identifiers or other intellectual property or modified or altered versions of the same, or take, copy or use for any purpose any pictures or illustrations of any portion of any AltF properties, without the prior consent of AltF.
- The Customer shall not make any agreement or settlement that requires a material act or admission by AltF, or imposes any obligation on AltF without the prior written consent of AltF.
- The Customer shall not do or permit to be done in the Demised Premises any acts which is illegal and/or which may be considered immoral, or unethical. The Customer shall not use the Demised Premises, Workspace, or any part thereof, or any of the facilities provided by AltF, as storage space of any illegal / banned / immoral, perverse – product/good.
- The Customer shall not use the Workspace in such a way, or store in the Workspace or any part of the Demised Premises, any goods of hazardous or combustible nature, which may be in violation of the applicable laws, and/or equipment or machinery which may affect the construction or the structure of the Demised Premises or do or suffer anything to be done or around the Demised Premises which tends to cause damage or deteriorate the value of the Demised Premises.
- The Customer shall not, during the term of this Agreement, and for a period of 3 (three) years following its termination, solicit or hire or employ, whether as employee, consultant, or in any other capacity, any person who has been employed, retained or hired by AltF at any time the term of this Agreement. Even otherwise, the Customer shall not display posters / advertisements / notices publicizing employment opportunity with the Customer, inside the Demised Premises and / or the Workspace or any part thereof.
- All persons including the Customer shall maintain decorum at the Demised Premises.
- The Customer undertakes not to do or cause to be done in or upon the Demised Premises any act, matter or thing whatsoever, which may be or becomes nuisance or annoyance to the owner or any other customer of any adjoining or neighboring premises, or which shall need any interference by the police or local authorities. The Customer also undertakes to comply with all laws, by-laws, statutes, rules and regulations, including any terms and conditions imposed by any applicable authority as may be relevant for the Demised Premises.
- The Customer agrees not to make any excessive noise or carry out any other activity which disturbs the peace and quiet of other customers in the Demised Premises.
- The Customer is responsible for the actions of and all damages caused by all persons that the Customer invites to enter the Demised Premises.
- AltF is not responsible for the actions of other individuals using the Demised Premises. AltF does not endorse, support or verify the facts, opinions or recommendations of any of the users of the Demised Premises.
- No consumption of alcohol is allowed within the Demised Premises.
- The Customer agrees and acknowledges that it shall ensure that its employees, guests, or any third party associated or connected with the Customer shall not indulge in any form of behavior or activity amounting to harassment of any person at the Demised Premises in any form, regardless of gender, religion, race, ethnicity, sexual orientation, disability or physical appearance. For the avoidance of doubt, it is specified that harassment includes but is not limited to the use of offensive verbal language, photography or recording without consent, sexual harassment including but not limited to making sexually coloured remarks and physical contact and advances. Upon the notice of any such incidence of harassment being given to AltF, AltF may require the Customer to take action against the said individual. Without prejudice to the fact that AltF at no time, has any responsibility or liability for such act, AltF reserves its right to take relevant steps against the said individual or the Customer, including but without being limited to, restricting the entry to the Demised Premises, and suspension, or termination of the Agreement with such AltF. Further, the Customer undertakes to indemnify and save AltF from any loss or costs that AltF may be constrained to undergo as a result of any such act of harassment.
- The Customer shall not be entitled to erect or to get erected, any interior fittings, fixtures, wooden partitions, cabins inside the Workspace, or make any additions or alterations, without the prior permission of AltF. Such customization shall be done with the prior approval of AltF and by a vendor approved by AltF.
- For any customization requirements that the Customer may have for the Workspace, a one-time charge shall be levied by AltF which shall be payable upfront by the Customer. Any customization work shall commence only after receipt of the one-time charge. It is further clarified that the Effective Date shall not depend on the completion of such customization work by the vendor.
- The Customer may, if it so desires, bring any extra moveable furniture with the prior consent of AltF, and provided the same does not cause a hindrance in the movement of persons within the Workspace and the Demised Premises. The Customer shall not be permitted to remove or dismantle any furniture of AltF.
- The Customer shall be permitted to install and use any additional appliance after prior approval from AltF. Such approval may be granted by AltF, in applicable cases, subject to payment of extra charges by the Customer.
- AltF will be responsible to take care of day to day maintenance and repairs pertaining to the Demised Premises. It is the duty and responsibility of the Customer to keep and maintain the Demised Premises in good, clean and neat condition. The Customer shall bear any expenses arising out of repairs and wear tear rising due to any fault or negligence of the Customer, its agents, invitees or guests.
- The Customer shall vacate the Workspace at the expiration or earlier termination of this Agreement in good order and condition, excepting any normal wear and tear. In case the Customer fails to do so, AltF will get the premises restored to its original condition at the cost and expenses of the Customer and the expenses so incurred shall be adjusted from the Security Deposit, and any expenses that are more than the Security Deposit would be payable by the Customer without demur. The Customer shall have the right to remove those movable assets belonging to them which can be removed without affecting the structure of the premises or the building and if any damage is caused, the Customer shall indemnify AltF. All the fixtures/furniture/equipment provided to the Customer, in fit and working condition, at the time of use and occupation of the Workspace, will be handed over in running condition at the time of vacating the Workspace.
- AltF will not be responsible for any property of the Customer that is left behind at the Demised Premises. It is the responsibility of the Customer to ensure that all personal items have been removed prior to leaving. Prior to the termination or early termination of the Agreement the Customer must remove all property from the Demised Premises. AltF will be entitled to dispose of any property remaining in the Demised Premises, after providing a notice of 15 (fifteen) days. Any liability incurred by AltF in the removal of such property will be the responsibility of the Customer.
- AltF bears no responsibility for any goods that may be stolen, destroyed or vandalized. For the benefit of the Customer and other occupiers of the Demised Premises, AltF has provision for internal CCTV cameras in the common Workspaces of the Demised Premises. Upon the occurrence of any act of theft, destruction, or vandalism of property, the Customer shall inform AltF of the same, and AltF shall make the best efforts to assist the Customer in this regard, including by way of provision of the CCTV footage. However, for the avoidance of doubt, it is clarified that AltF shall not be liable in any way, even in the event of inability to provide the relevant CCTV footage. It is further clarified that the Customer shall not permitted to monitor or seek access to live CCTV footage.
- The Customer may be permitted to display its name/logo on the entry door of the Workspace or anywhere within the Workspace. Such display/frosting shall be done with the prior approval of AltF and by a vendor approved by AltF upto a maximum size of 20” x 10” for a charge of Rs. 2000/- (Rupees Two Thousand only) payable by the Customer to the vendor. Such one- time charge shall be payable upfront and prior to the commencement of the work. No other form of display to be allowed. The Customer shall not be permitted to undertake any other form of advertising on the Demised Premises.
- The Customer shall not directly or indirectly take, copy or use any information or intellectual property belonging to other customers or customer companies or any of their guests, including without limitation personal names, business names, trademarks, service marks, logos, other identifiers or other intellectual property, or modified or altered versions of the same.
- Operating Hours
- The Customer shall be liable to pay an extra charge of Rs. 500/- (Rupees Five Hundred Only) per seat, per hour, for using the Demised Premises beyond the operating hours of AltF.
- Entry of the Customer to the Demised Premises shall only be through the access card provided by AltF. The Customer shall be responsible for loss of the access card. The Customer shall be responsible for any loss or damage due to unauthorized entry.
- The Customer will be provided access cards to the Demised Premises on a per seat basis. For any additional requirement of access cards, additional charges per card shall be applicable, such additional charge per card shall be equal to 30% (thirty per cent) of the Fee per month per seat, along with the penalty
- It is clarified for the avoidance of doubt, that the above-mentioned access cards are the property of AltF and therefore on termination of the Agreement, the access cards will have to be returned to AltF. On the failure to do so, AltF shall be free to initiate action against the Customer, and / or deduct a charge of Rs. 500/- (Rupees five Hundred only) per card, from the Security Deposit at its sole discretion.
- AltF shall be closed on the following days, in addition to any local holidays that may be notified by AltF from time to time:
National holidays – 26th January, 15th August, 2nd October
- AltF will not be liable for any software or hardware issues to any electronic equipment or systems that a Customer may face for no reasons attributable to AltF.
- Any additional requirements for data/voice points/access control and similar IT services within the Workspace, will be subject to additional charges and after prior permission of AltF, subject to their discretion. Such charges will be applicable for additional IT services in the Workspace only and separate charges will be payable for any customization in any other Workspace subsequently used and occupied by the Customer.
- AltF shall not be obligated to disclose or share any data/information related to any IT services provided by AltF to its customers including but not limited to AltF’s internet connection, networks, access control, telecommunications systems or information processing systems. Any specific request of a Customer shall be considered by AltF and acted upon at their sole discretion.
- AltF takes no responsibility for any injury, loss that may occur due to any beverage/water/food consumed by the Customer at the Demised Premises. The Customer is free to make any claim/complaint against the relevant third party vendor.
- AltF shall not be liable, directly or indirectly, to anyone for any damage or loss relating to any use of any third party services and the Customer will look solely to the applicable third party for provision of the applicable third party services and for compensation for any claims, damages, liabilities or losses that the Customer may incur in connection with such third party services.
- The use of facilities such as printer and internet by any employee or authorized personnel of the Customer shall at all times be considered as authorized usage of the printer and internet by the Customer. The Customer will be provided with a PIN to print the pages. Any pages printed using that pin would be considered as the prints taken by the Customer.
- Additional Services
If the Customer wishes to avail of additional services from AltF, but which are outside the package of Services contracted by the Customer, then such additional services shall be provided by AltF at additional charges, which are to be discussed and agreed upon by the Parties at the relevant time.
- Inspection and cleaning
- During the Term, the Customer shall permit AltF, their respective agents and representatives, to enter upon the Workspace, at reasonable times for inspecting its state and condition, to make repairs or to show the Workspace to prospective customers. AltF or its representatives may also enter the Workspace without prior consent if it appears to have been abandoned by the Customer, or in the case where there is an apparent violation of law, or in case of emergency, or as otherwise permitted by law.
- AltF or its agents, or employees, or contractors shall enter the Workspace for the purposes of cleaning without any prior consent of the Customer.
- The Customer shall be liable to pay extra charges for any additional cleaning that would be done by the housekeeping staff. The housekeeping staff will not be responsible for washing of any utensils/crockery/cutlery of the Customer. The housekeeping staff of AltF will also not be responsible for filling up water bottles of the Customer or for serving tea/coffee to the Customer.
- The Customer shall not mortgage, part with possession, assign any portion of the Workspace or create third party interest in any manner in respect of the Workspace.
- AltF shall make best efforts to ensure continuous and uninterrupted provision of the Services to the Customer during the Term, to the best of its ability and subject to issues of force majeure.
- Meeting Room
- The Customer may use credits, granted to the Customer, for the meeting rooms in the Demised Premises as per the charges specified, subject to availability of such meeting Rooms. Use of meeting rooms in excess of any credits would be subject to the charges which can change from time to time.
- The use of a meeting room by any employee or authorized personnel of the Customer shall at all times be considered as authorized usage of the meeting room by the Customer.
- Once the meeting room is booked, no changes can be made. For any changes, the meeting room can only be cancelled and then re-booked. Cancellation charges may be applicable.
- AltF may impose additional charges on the Customer if the meeting has exceeded the time limit so specified at the time of booking.
- Common Workspaces
- The Customer shall be permitted to access the common Workspaces within the Demised Premises. Such common Workspaces will be for a temporary use and not for everyday continuous work. AltF may conduct events / meetings in the common Workspaces of the Demised Premises. AltF may play music in the common Workspaces as per their own discretion.
- AltF reserves its right to display any form of advertising in the common Workspaces at its sole discretion and does not need the leave or permission of any customer in this regard.
The Customer shall be permitted to receive mail and packages at the Demised Premises during the regular business hours and on regular business days. AltF will inform the Customer on receiving any such mail or package. AltF will be under no obligation to store such mail or packages for more than 15 (fifteen) from receipt.
- AltF shall be at liberty to terminate this Agreement by giving 30 (thirty) days prior notice in writing.
- In the event of a material breach of the Agreement by the Customer, AltF will be entitled to terminate this Agreement without any prior notice to the Customer. The Term will be considered to have concluded from the date of the communication, unless the same has been revoked and recalled by AltF.
- , the Customer shall make full and final payment of all outstanding sums and the applicable Fee or part thereof, commensurate to the period that the Workspace was utilised by the Customer since the date of last payment of the Fee until the date of termination. Any default or delay in such payment shall carry an interest of 1.5% (one decimal five per cent) per month. AltF reserves the right to recover such dues from the Security Deposit.
- Prior to, and no later than the date of termination, the Customer shall vacate the Workspace and in case the Customer fails to do so, the Customer shall be liable to pay damages equal to double the Fee, proportionate to the number of days that the Customer has exceeded post the termination of the Agreement till the actual date of full and final vacation. Provided however that in the event the Customer fails to fully vacate the Workspace even after 14 days after termination of the Agreement, AltF shall be at liberty to vacate the Workspace on behalf of the Customer and shall hold the possessions of the Customer for a period of 48 hours, which if not collected by the Customer, shall be destroyed by AltF, at its sole discretion, at the risk and cost of the Customer. The Customer acknowledges and admits that payment of the above damages would not in any way create any rights of the Customer on the said Workspace.
- In a situation of partial termination of the Agreement during the lock-in period as specified in the Agreement, it is hereby stated that at any given point of time, only a maximum of 10 (ten) per cent of the seats may be vacated by the Customer. Provided however, at any given point of time such 10 (ten) per cent vacation shall not result in rendering any one of the rooms booked by the Customer as partially vacant.
- Indemnity and Limitation of Liability
- The Customer shall indemnify and shall hold AltF harmless and without having to undergo any losses or costs, in relation to any actions that AltF may need to take including legal advice or representation, to remedy or address any situation, including any action / enquiry from any government instrumentality, or loss of goodwill or reputation on account of any actions / inactions on the part of the Customer.
- The liability and consequences for doing any wrong/illegal acts, in the premises by the Customer concerning various departments, namely, GST, income tax, custom, electricity, labour, municipal corporation, health and pollution etc. shall be of the Customer exclusively and AltF shall not be liable and responsible in any manner whatsoever.
- The Customer shall abide by the bye-laws and guidelines of the relevant authorities applicable to the Demised Premises and shall carry out and obey all the legal orders and directions issued by the authorities’ from time to time, unless such instructions are relevant for, and pertaining to AltF.
- AltF does not make any representations as to the security of the LAN (or the internet) or of any information that is placed on it by the Customer. The Customer shall adopt whatever security measures to safeguard its information. Furthermore, the Customer acknowledges that it has no expectation of privacy with respect to AltF’s internet connection, networks, telecommunications systems or information processing systems (including any stored computer files, email messages and voice messages), and the Customer’s activity and any files or messages on or using any of those devices or systems may be monitored at any time without notice, including for security reasons and to ensure compliance with AltF’s policies, regardless of whether such activity occurs on equipment owned by you or us.
- AltF is not liable for any loss as a result of failure to provide a service as a result of mechanical breakdown, strike, fire drill etc. That for failure to provide any service, the Customer must inform AltF in writing and give AltF reasonable time to correct the issue.
- The Customer agrees that AltF will not be held liable for any loss, expense, damage or claim (hereinafter referred to as “Claims”) which arises as a result of, or in connection with, the Agreement and/or the Agreed Services except to the extent that such loss, damage, expense or claim is solely and directly attributable to a deliberate act or gross negligence of AltF.
- The Customer agrees that AltF will not be held liable for any mishap/accident taking place on the Demised Premises.
- AltF will not be held liable for loss of business, loss of profits, loss of anticipated savings, loss of or damage to data, third party claims or any consequential loss.
- The Parties acknowledge and agree that the liability of AltF, if any, shall be limited to the amount of the monthly Fee only.
The Customer shall be solely responsible for getting the insurance, and protecting the property owned by the Customer which is brought into the Demised Premises and the Workspace, including data and documents, and inter alia for liability towards its employees and towards third parties, potential business loss, damage expense or liability.
- Governing Law and Jurisdiction
- All proceedings in any such arbitration shall be conducted in English. The seat of the arbitration proceedings shall be in Delhi and shall be conducted in accordance with the DIAC (Arbitration Proceedings) Rules, 2018.
Any notice required to be given, by AltF to the Customer or the Customer to AltF, shall be by way of e-mail at the addresses specified in the Agreement or at firstname.lastname@example.org. It is clarified that no verbal communication shall constitute valid notice. In case of change of address of the Customer, the same shall be intimated immediately by the Customer to AltF in writing.
- The Customer agrees to avail of the Services and facilities which may also be used by other customers of AltF, and other occupiers of the Demised Premises, with full cooperation and understanding and without creating any hindrances.
- Endorsements and Testimonials: AltF may from time to time, publish testimonials by customers related to their experiences with the Services. These testimonials are the customers’ subjective opinions, and they represent individual results. ALTF neither verifies them nor claims that they are typical results that others will generally achieve. Names, locations, dates and other information may have been changed to protect the privacy of the individuals involved. All other testimonials and endorsements of any type, format or nature posted by users are not verified by ALTF, and ALTF makes no warranty or representation as to their accuracy. The Customer should be cautious when relying on any testimonials or endorsements, and should assume the results described therein are not typical or standard.
- AltF will have no obligation or responsibility to mediate or participate or indemnify any party in a dispute between customers of AltF or between customers of AltF and any third party. If AltF deems it fit to mediate any issue between the customers of AltF at the Demised Premises then the decision of AltF shall be final.