Terms of Service

Effective Date: April 1, 2023

1. GENERAL PROVISIONS
   1. These Terms of Service (hereinafter referred to as the "Terms") govern the legal relationship between PrimeEstate India (hereinafter referred to as the "Company"), and individuals or organizations (hereinafter referred to as the "Client") regarding the provision of real estate services.
   2. By engaging the Company's services, the Client acknowledges that they have read, understood, and agree to be bound by these Terms.
   3. The Company reserves the right to modify these Terms at any time. Any changes will be effective immediately upon posting on the Company's website.
2. SERVICES
   1. The Company provides the following services:
      • Residential property sales and purchases;
      • Commercial property sales and purchases;
      • Property rental and leasing services;
      • Property valuation and appraisal;
      • Real estate investment advisory;
      • Property management services;
      • Legal assistance for property transactions;
      • Other related services as agreed upon with the Client.
   2. The specific scope, deliverables, and timeline of services will be outlined in a separate Service Agreement or Statement of Work between the Company and the Client.
3. FEES AND PAYMENT
   1. Fees for services will be specified in the Service Agreement or Statement of Work and may be structured as:
      • Brokerage fees (typically a percentage of the property transaction value);
      • Fixed fees for specific services;
      • Monthly management fees for property management services;
      • Consultation fees for advisory services;
      • Success fees for certain transactions.
   2. Unless otherwise specified, invoices are due within 15 days of issuance. Late payments may incur interest charges at a rate of 18% per annum.
   3. The Client is responsible for all taxes applicable to the services provided, including GST and other applicable taxes in India.
4. PROPERTY TRANSACTIONS
   1. The Company acts as a facilitator for property transactions and does not guarantee:
      • The final sale or purchase price of any property;
      • The condition of any property beyond what is disclosed;
      • The timeframe for completing any transaction;
      • Approval of financing or loans;
      • Future property values or investment returns.
   2. The Client acknowledges that property transactions are subject to market conditions, legal processes, and other factors beyond the Company's control.
   3. The Company will make reasonable efforts to verify property information, but the Client is advised to conduct their own due diligence and inspections.
5. PROPERTY MANAGEMENT SERVICES
   1. For property management services, the Company will:
      • Collect rent and manage tenant relations;
      • Arrange for property maintenance and repairs as authorized;
      • Provide regular financial reporting;
      • Ensure compliance with local regulations;
      • Market the property for rental as needed.
   2. The Client remains responsible for property taxes, insurance, major repairs, and other ownership costs unless specifically included in the management agreement.
   3. The Company is not liable for tenant defaults, property damage, or other issues beyond reasonable control.
6. CONFIDENTIALITY
   1. Both parties agree to maintain the confidentiality of all proprietary information shared during the provision of services, including but not limited to business strategies, property details, client information, and financial data.
   2. The Company will not disclose client information to third parties without consent, except as required to perform the services or as required by law.
   3. Confidentiality obligations survive the termination of the service relationship.
7. TERMINATION
   1. Either party may terminate the service relationship with 30 days' written notice, unless otherwise specified in the Service Agreement.
   2. The Client remains responsible for payment of all services rendered prior to termination.
   3. For exclusive listing agreements or property management contracts, early termination fees may apply as specified in the Service Agreement.
8. LIMITATION OF LIABILITY
   1. The Company's liability is limited to the fees paid by the Client for the specific services in question.
   2. The Company is not liable for indirect, consequential, or incidental damages, including but not limited to lost profits or business interruption.
   3. The Company does not guarantee property values, investment returns, or the outcome of any real estate transaction.
9. GOVERNING LAW
   1. These Terms are governed by the laws of India.
   2. Any disputes arising from these Terms shall be resolved through arbitration in accordance with the Arbitration and Conciliation Act, 1996 of India.
   3. The place of arbitration shall be Mumbai, India.
10. FINAL PROVISIONS
    1. These Terms constitute the entire agreement between the parties regarding the subject matter herein and supersede all prior agreements, understandings, or negotiations.
    2. If any provision of these Terms is found to be unenforceable, the remaining provisions shall remain in full force and effect.
    3. Questions regarding these Terms should be directed to  legal@primeestate.in.