Terms and Conditions 2017-09-12T11:04:39+00:00

GENERAL WORKING AGREEMENT

THIS GENERAL WORKING AGREEMENT (“AGREEMENT”) DEFINES THE TERMS AND CONDITIONS OF THE WORKING RELATIONSHIP. ALL PROJECTS OR SERVICES (“THE PROJECT”) THAT VELERO VENTURES LLC (VELERO) MAY BE CONTRACTED TO PRODUCE OR PROVIDE FOR THE CLIENT (“CLIENT”) WILL BE SUBJECT TO THE FOLLOWING:

1.     BILLING PLAN AND FEES

1.1.   ONE-TIME FEES FOR PERSONAL & BUSINESS FINANCIAL MODELS ARE PAYABLE PRIOR TO THE START OF WORK. FEES MAY BE PAID IN A SINGLE PAYMENT OR BROKEN DOWN INTO A MAXIMUM OF 3 MONTHLY PAYMENTS EQUIVALENT TO 1/3 OF THE TOTAL AMOUNT.

1.2.   GOAL MEETINGS WILL BE BILLED PER SESSION AND ARE PAYABLE WITHIN 15 DAYS OF BILLING.

1.3.   GENERAL PROJECT FEES WILL BE BILLED UPON DELIVERY AND ARE PAYABLE WITHIN 15 DAYS OF BILLING.

2.     CHANGES OF SCOPE

2.1.   IF DURING THE PROJECT LIFE CYCLE THE CLIENT DESIRES TO MODIFY THE PROJECT SCOPE IN A FASHION MATERIALLY DIFFERENT FROM THE SCOPE OF A SIGNED PROPOSAL AGREEMENT, A MODIFIED AGREEMENT OR AN ADDENDUM TO THE AGREEMENT WILL BE CREATED AND NO WORK WILL BE PERFORMED UNTIL A NEW AGREEMENT HAS BEEN REACHED ON THE ADDITIONS, DELETIONS OR NEW PROJECT SCOPE.

2.2.   THIS AGREEMENT IS THE COMPLETE STATEMENT OF UNDERSTANDING BETWEEN THE CLIENT AND VELERO. NO OTHER AGREEMENTS HAVE BEEN MADE OTHER THAN THOSE STATED IN THIS AGREEMENT. THIS AGREEMENT CAN ONLY BE MODIFIED IN WRITING, SIGNED BY BOTH PARTIES.

3.     CLIENT RESPONSIBILITIES

3.1.   CLIENT ACKNOWLEDGES THAT IT SHALL BE RESPONSIBLE FOR PROVISION OF ACCESS TO INFORMATION AND PROJECT CONTENT AS NEEDED FOR COMPLETION OF PROPOSED PROJECT SERVICES. CLIENT SHALL BE RESPONSIBLE FOR TIMELY FEEDBACK TO VELERO OF WORK-IN-PROGRESS AND COMPLETED WORK. CLIENT SHALL BE RESPONSIBLE FOR COORDINATION WITH ANY OTHER ADVISORS AND DECISION-MAKING PARTIES OTHER THAN VELERO SUCH AS BUSINESS BROKERS, ATTORNEYS, ACCOUNTANTS, CONSULTANTS AND OTHER SIMILAR PROFESSIONAL SERVICES.

4.     CONFIDENTIALITY

4.1.   VELERO ACKNOWLEDGES THAT ITS FOUNDERS, EMPLOYEES AND CONSULTANTS HAVE A RELATIONSHIP OF CONFIDENCE AND TRUST WITH RESPECT TO ANY INFORMATION THAT MAY BE DISCLOSED. VELERO SHALL NOT DISCLOSE ANY CONFIDENTIAL INFORMATION TO ANY THIRD PARTY. VELERO SHALL TAKE REASONABLE MEASURES TO PROTECT THE SECRECY OF AND AVOID DISCLOSURE OR USE OF THE CONFIDENTIAL INFORMATION. VELERO SHALL NOT USE ANY CONFIDENTIAL INFORMATION FOR ANY REASON EXCEPT TO CARRY OUT THE PROJECT AND PERFORM THE SERVICES IN GOOD FAITH.

5.     LIABILITY

5.1.   THE MAXIMUM LIABILITY OF VELERO, ITS DIRECTORS, OFFICERS AND AFFILIATES TO CLIENT FOR DAMAGES FOR ANY AND ALL CAUSES WHATSOEVER, AND CLIENT’S MAXIMUM REMEDY, REGARDLESS OF THE FORM OF ACTION, WHETHER IN CONTRACT, TORT OR OTHERWISE, SHALL BE LIMITED TO AN AMOUNT EQUAL TO THE TOTAL FEES DUE TO OR PAID BY CLIENT TO VELERO.

5.2.   VELERO DOES NOT ASSUME RESPONSIBILITY FOR CONTROLLING THE BUDGET OR ACTUAL PERFORMANCE RESULTS BEYOND PROVIDING MODELS AND ADVISING THE CLIENT ON APPROPRIATE FINANCIAL TOOLS AND METHODS. VELERO IS NOT RESPONSIBLE IF THE CLIENT MAKES CHANGES TO THE PROJECT WITHOUT NOTIFYING VELERO.

6.     EMPLOYEES / SUBCONTRACTORS

6.1.   VELERO REPRESENTS AND WARRANTS THAT IT IS LIABLE FOR THE PERFORMANCE OF ITS EMPLOYEES AND ANY SUBCONTRACTOR ENGAGED BY VELERO WHO MAY PERFORM SERVICES FOR CLIENT AND THAT THOSE EMPLOYEES AND/OR SUBCONTRACTORS SHALL BE BOUND BY THE TERMS OF THIS AGREEMENT.

7.     INVALIDITY OR UNENFORCEABILITY.

7.1.   IN THE EVENT THAT ANY ONE OR MORE OF THE PROVISIONS CONTAINED IN THIS AGREEMENT SHALL, FOR ANY REASON, BE HELD TO BE INVALID, ILLEGAL OR UNENFORCEABLE IN ANY RESPECT, SUCH INVALIDITY, ILLEGALITY OR UNENFORCEABILITY SHALL NOT AFFECT THE OTHER PROVISIONS OF THIS AGREEMENT, AND THIS AGREEMENT SHALL BE CONSTRUED AS IF SUCH INVALID, ILLEGAL OR UNENFORCEABLE PROVISION HAD NEVER BEEN CONTAINED HEREIN.