TERMS AND CONDITIONS: FOR THE USAGE OF XCHANGE
(1) Any partner who shares properties via Houzen Xchange LTD (the “Landlord” or “Listing Agent”)
(2) Houzen Xchange Ltd. incorporated and registered under the laws of England and Wales with company number 09917337 whose registered office is at 27 Finsbury Circus, London EC2M 7AB (the “Xchange” or “Houzen”).
(3) Any prospective tenant, buyer short let or corporate tenant referred to Xchange (the “Lead”; the “Leads” or the “Referred Lead”)
Schedule 1: ENGAGEMENT TERMS
1.1. The Instructed Agent will introduce Leads to properties via Xchange
1.2. The instructed agent will coordinate applicant viewings, secure offers and deliver them to the Listing Agent. The process is susceptible to change with prior notice from the Listing agent
1.3. Upon acceptance of the Leads’ offer, Xchange will facilitate the referencing and contracting of the Lead via the Listing Agent.
1.4. The Listing Agent will inform Xchange in a timely fashion about the failure or success of any introduced Lead by updating the information on the platform or contacting the relevant account manager in writing.
1.5. Xchange will inform the relevant Agent, in a timely fashion of the success or failure of each Lead’s referencing, as well as when a tenant enters into a Tenancy Agreement (a “Referred Lead” or, in case of failure of the referrals process, a “Non-Qualifying Lead”). For the avoidance of doubt, a Referral Fee shall not be paid in respect of a Non-Qualifying Lead.
1.6. The Instructed Agent shall be entitled to a Referral Fee if:
(A) in respect of Referred Leads (that are not deemed Non-Qualifying Leads);
(B) a Referred Lead pays the first instalment of rent due under the Tenancy Agreement (the “Rent Payment Date”) and the Referred Lead has moved into the Property.
1.7. The net amount of the referral fee payable shall be of the rental payments due under the relevant Tenancy Agreement from its commencement date plus VAT if applicable (“Referral Fee”).
1.8. The Referral Fee will be paid to the Agent, after the Agent has invoiced Xchange.
1.9. The Listing Agent shall be responsible that all the information shared with Instructed Agents is correct and must keep that information updated at all times.
1.10. The Listing Agent shall agree that by accepting a lead he/she will pay the “Instructed Agent” the agreed commission according to clause 1.5 within 30 days
Schedule 2: WARRANTIES
Xchange Warrants that:
2.1. Every Listing Agent whose properties are listed via Xchange has authorized Xchange to appoint Agents of their choosing to find tenants for the Listing Agent’s properties
2.2. The listing agent will keep Instructed agents updated on their “Lead’s” progress via Xchange
Schedule 3: INTELLECTUAL PROPERTY AND GDPR COMPLIANCE:
3.1. All Xchange initiated listings, transactions, landlord, seller, developer, the applicant and property-related communication, whether conducted online on the Site or offline post- initiation on different modes of communication such as emails, phone calls, meetings would be subject to the GDPR data protection rules:
3.1.1 XChange allows Exclusive Use of property listings only; posting an XChange listing on any public portals is strictly prohibited and punishable by law with a fine up to £5000 under the 1998 Copyright, Designs and Patent Act.
3.2. What are your data protection rights? Xchange would like to make sure you are fully aware of all of your data protection rights. Every user is entitled to the following
3.2.1 The right to access – You have the right to request Xchange for copies of your personal data. Depending on the nature of the data requested, there may be a small fee for this.
3.2.2 The right to rectification – You have the right to request that Xchange correct any information you believe is inaccurate.
3.2.3 The right to erasure – You have the right to request for your data to be erased from
the platform under certain conditions.
3.2.4 The right to restrict processing – You have the right to object to Xchange restrict
processing of your personal data, under certain conditions.
3.2.5 The right to object to processing – You have the right to object to Xchange
3.3. Overseas Data Transfer
3.3.1. Personal data transferred overseas from the UK shall be handled under GDPR rules to ensure personal data are adequately protected.