Terms & Conditions

AIRE Consulting

AIRE Consulting means Global AI Real Estate Inc., and/or any subsidiary or holding company or company that provides any of the services under the Agreement.

1. When the Terms apply

These General Terms of Business (“the Terms”) apply where AIRE Consulting provides a service to a client and there is no written agreement for the provision of that service or if there is, to the extent that the Terms do not conflict with the terms of that written agreement. In the case of conflict between the Terms and the terms of any written agreement, the terms of the written agreement shall prevail to the extent of the conflict. Reference in these Terms to the agreement means the written or informal agreement that incorporates these Terms (“the Agreement”).

2. Service level

AIRE Consulting is to provide the service to the specification and performance level stated in writing in the Agreement or, if none is stated, to the specification and performance levels that it ordinarily provides in accordance with AIRE Consulting’s duty of care as set out below. Any variations must be agreed in writing.

3. What is not included

AIRE Consulting has no responsibility for anything that is beyond the scope of the service so defined. In particular, it has neither obligation to provide nor liability for:

an opinion on price unless specifically instructed to carry out a valuation;

advice, or failure to advise, on the condition of a property unless specifically instructed to carry out a formal survey;

the security or management of property unless specifically instructed to arrange it;

the safety of those visiting a property, unless that is specified in its instructions;

estimates of construction or building costs, unless it has specifically engaged a qualified cost consultant or quantity surveyor to provide such estimates.

4. Duty of care and Liability

a) Duty of care

AIRE Consulting owes to the client a duty to act with reasonable skill and care in providing the service and complying with the client’s instructions where those instructions do not conflict with:

the Terms, or

the Agreement, or

applicable law, regulations and professional rules. AIRE Consulting is not obliged to carry out any instructions of the client which conflict with the applicable law, regulations and professional rules.

b) Liability to the client

AIRE Consulting has no liability for the consequences, including delay in or failure to provide the services, arising from any failure by the client or any agent of the client:

to promptly provide information or other material that AIRE Consulting reasonably requires, or where that information or material provided is inaccurate or incomplete. The client warrants that, where it provides information or material to AIRE Consulting, AIRE Consulting is entitled to rely on its accuracy.

to follow AIRE Consulting’s advice or recommendations.

The liability of AIRE Consulting in contract, tort (including negligence or breach of statutory duty), misrepresentation or otherwise howsoever caused arising out of or in connection with the provision of services or otherwise under the Agreement is not limited for fraud or where its negligence causes death or personal injury, but otherwise its liability:

is excluded to the extent that the client or someone on the client’s behalf for whom AIRE Consulting is not responsible is responsible;

is excluded if caused by circumstances beyond AIRE Consulting’s reasonable control;

excludes indirect, special and consequential losses;

(where AIRE Consulting is but one of the parties liable) is limited to the share of loss reasonably attributable to AIRE Consulting on the assumption that all other parties pay the share of loss attributable to them (whether or not they do); and

In any event and in recognition of the relative risks and benefits of the project to both the client and AIRE Consulting, the risks have been allocated such that the client agrees, to the fullest extent permitted by law, to limit the liability of AIRE Consulting to the client for any and all claims, losses, costs, damages of any nature whatsoever or claims expenses from any cause or causes, including attorneys’ fees and costs and expert witness fees and costs, so that the total aggregate liability of AIRE Consulting to the client shall not exceed and is limited to the professional fees received by AIRE Consulting from the client.

Apart from fraud or criminal conduct, no employee of the AIRE Consulting group of companies has any personal liability to the client and neither the client nor anyone representing the client may make a claim or bring proceedings against an employee or former employee personally.

c) Liability to third parties

AIRE Consulting owes no duty of care and has no liability to anyone but its client, unless specifically agreed in writing by AIRE Consulting. No third party is intended to have any rights under the Agreement unless agreed in writing.

d) Liability for others

AIRE Consulting has no liability for products or services that it reasonably needs to obtain from others in order to provide the service.

e) Delegation

AIRE Consulting may delegate to a third party the provision of the service, or part of it, only where this is reasonable but remains liable for what the third party does unless the client agrees to rely only on the third party (and the client must not unreasonably withhold that agreement). If delegation is at the client’s specific request (whether such request is made in the Client’s request for proposal, Terms of Reference, or verbally), AIRE Consulting is not liable for what the third party does or does not do.

5. Delivering the service

a)Timetable

AIRE Consulting is to use reasonable endeavours to comply with the client’s timetable but is not responsible for not doing so unless specifically agreed in writing. Even then, AIRE Consulting is not liable for delay that is beyond its control.

b) Intellectual property

Unless otherwise agreed in writing all intellectual property rights:

in material supplied by the client belong to the client.

in material prepared by AIRE Consulting belong to AIRE Consulting.

Each has a non-exclusive right to use the material provided for the purposes for which it is supplied or prepared. No third party has any right to use it without the specific consent of the owner.

c) Confidential material

Each party must keep confidential all confidential information and material of commercial value to the other party of which it becomes aware but it may:

use it to the extent reasonably required in providing the service;

disclose it if the other party agrees;

disclose it if required to do so by law, regulation or other competent authority.

This obligation continues after termination of the Agreement. AIRE Consulting may after six (6) years from the earlier of completion of the service or termination of the Agreement destroy any papers it retains without any obligation to notify the client.

6. Remuneration and Payment

a) Fees and Taxes

Where the fees and expenses payable for the service, or for additional or extended services requested by the client are not specified in writing, AIRE Consulting is entitled to the fee specified by the RICS or other applicable professional body or, if none is specified, to a fair and reasonable fee by reference to time spent and reimbursement of expenses properly incurred on the client’s behalf. Where the service is not performed in full AIRE Consulting is entitled to a reasonable fee proportionate to the service provided as estimated by AIRE Consulting. All fees related to additional work should be reduced to writing.

Unless specified in writing to the contrary, the client must pay any additional applicable tax as will be added to such fees invoiced to the client.

b) Payment timeframe

If a duly rendered invoice is not paid in full within the timeframe in the Agreement, or within 30 days if no timeframe is so agreed, AIRE Consulting may impose an additional charge on the balance due of 5% for each month the amount remains outstanding. AIRE Consulting will be entitled to suspend work on the assignment where any invoice is outstanding beyond the agreed timeframe for payment.

AIRE Consulting is entitled to postpone the start of or suspend work on an assignment until its initial payment has been received as stated in the Agreement.

7. Communication

The client will appoint for the purpose of this Agreement a representative who will act as liaison and contact person with AIRE Consulting.

AIRE Consulting may use electronic communication and systems to provide services, making available to the client any software required that is not generally available.

A notice is valid if in writing addressed to the last known address of the addressee and is to be treated as served:

when delivered, if delivered by hand (if that is during normal business hours) otherwise when business hours next commence;

two business days after posting, if posted by recorded delivery;

when actually received, if sent by ordinary mail or fax;

when actually received, if sent by recorded electronic mail (email).

8. Financial projections and Financial models

The client acknowledges that any financial projections relating to real estate developments, interests or assets prepared by AIRE Consulting are not opinions of value and may not be construed as valuations.

AIRE Consulting will use reasonable skill and care in providing any financial projections but the client acknowledges that the valuations are estimates only and the client further acknowledges that market conditions and assumptions may change and reliance on financial projections will be at its own risk. All such financial projections are prepared in accordance with the terms, conditions and limitations specified in the consulting report.

Financial estimates and financial models may be prepared using business models and software that are the sole property of AIRE Consulting. AIRE Consulting has no obligation to share with the client its proprietary models.

9. Termination

a) Termination

The client or AIRE Consulting may terminate the Agreement immediately by notice to the other if the other:

has not satisfactorily rectified a substantial or persistent breach of the Agreement within the reasonable period specified in an earlier notice to rectify it;

is insolvent according the laws of its country of incorporation.

b) Effect of termination on claims

Termination of the Agreement does not affect any claims that arise before termination or the entitlement of AIRE Consulting to its proper fees up to the date of termination or to be reimbursed its expenses.

In the event that the assignment is suspended or terminated by reasons outside the direct control of AIRE Consulting, it shall be entitled to retain in full all payments made or due at the date of suspension or termination, including any initial payment.

This stipulation applies only to termination with convenience.

10. Compliance

The client is aware of AIRE Consulting’s obligation to comply with prevailing anti-corruption rules, such as but not limited to the U.S. Foreign Corrupt Practices Act (“FCPA”) and anti-money laundering provisions relevant to the contracting parties and the client therefore warrants that it will not use money or any other consideration paid by AIRE Consulting for unlawful purposes, including purposes violating anti-corruption laws, such as make or cause to be made direct or indirect payments to any government official in order to assist AIRE Consulting or any of its subsidiaries, affiliates, holding-companies or anyone acting on their behalf, in obtaining or retaining business with, or directing business to, any person, or securing any improper advantage.

In addition the client warrants that it is not aware of any (potential) breach of any relevant prevailing anti-money laundering provision.

The client declares and warrants that:

its members, officers and employees are not a government official(s) and does not and will not employ or otherwise compensate or offer to compensate any government officials, or make or cause another to make any direct or indirect offers or payments to any government officials, for the purpose of influencing or inducing any decision for the benefit of AIRE Consulting.

it will not employ any sub-contractor, consultant, agent or representative in connection with the Agreement without a thorough documented examination of his person, reputation and integrity.

it will not employ any subcontractor, consultant, agent or representative who does not comply with the prevailing anti-corruption rules and in case any such violation comes to its attention it informs AIRE Consulting immediately.

it shall not make any payment (including any offer to pay, promise to pay or gift of money or anything else of value) to any AIRE Consulting employee in connection with the solicitation or award of any services.

any payments client shall make to third parties related to any services related to the Agreement shall be supported by written, detailed invoices.

AIRE Consulting may immediately terminate the Agreement if the client violates any of the prevailing anti-corruption laws and/or the provisions defined in this compliance clause.

Civil servants, government employees and officials can provide certain services to AIRE Consulting if the provision of such services does not violate the conflict of interest provisions of the laws governing their position or does not involve the use of their official position to assist AIRE Consulting in obtaining or retaining business.

This stipulation applies and should be committed to by both parties.

11. Miscellaneous

a) Waiver

Failure to enforce any of the Terms is not a waiver of any right to subsequently enforce that or any other term of the Agreement.

b) Severability

The invalidity, illegality and unenforceability in whole or in part of any of the provisions of the Agreement shall not affect the validity, legality or enforceability of its remaining provisions which shall remain in full force and effect.

c) Governing law/Arbitration

The General Conditions and the terms of the Instruction shall be governed and construed in accordance with the laws of England and Wales.

Any disputes or conflicts arising out of or in connection with the Agreement or otherwise between the parties of the Agreement, including any question regarding its existence, validity or termination, shall only be referred to the International Court of Arbitration in Paris and finally reserved by arbitration only.

d) No partnership

Nothing contained in the Agreement shall be construed as creating a partnership or joint venture between any of the Parties to the Agreement.

e) Corporate power

Each of the parties hereby represents and warrants to the other as follows:

that it is duly established and is validly existing under the laws of its incorporation;

that it has full corporate power and has taken on all corporate acts to enable it to effectively enter into and perform its obligations under the Agreement.

f) Force Majeure

It is agreed that the obligations of both parties herein will be affected by an event of Force Majeure including but not limited to, civil disturbances, riots, strikes, act of God, war, coup, civil war, governmental decisions or any other acts of a similar nature which is beyond the control of either party, to be sufficient excuse for delay and non-performance traceable to any of these causes.

g) Conflict of Interest

If AIRE Consulting becomes aware of a conflict of interest it will advise the client promptly and recommend an appropriate course of action.

h) Binding documents

The engagement letter or agreement instructing AIRE Consulting as well as the preamble and its attachments, including the Terms form an integral and indivisible part of the Agreement. No amendment to the Agreement shall be valid unless executed in writing and signed by both the parties hereto. Neither party hereto may assign its interest hereunder without the prior written consent of the other party hereto. Words importing the singular number include the plural and vice versa. The obligations of each party shall be binding upon its heirs and assigns. The parties hereto hereby agree and undertake to take all such steps as may be necessary to give effect to the provisions contained in the Agreement.

12. COMPLIANCE WITH DATA PRIVACY LEGISLATION

The Client acknowledges and expressly consents thereto that AIRE Consulting may:

 Process the Client’s personal information as defined in terms of section 2 of the Protection of Personal Information Act, No. 68 of 2013 (“Personal Information”), or any other relevant data privacy legislation, including but not limited to the General Data Protection Regulation (“GDPR”) and the California Consumer Protection Act (“CCPA”), to conclude this Engagement and where relevant, for purposes of future related engagements where AIRE Consulting may be appointed, as well as any other services provided to the Client in complying with the 

Client’s instructions; and

Process the Client’s Personal Information for purposes of the prevention and detection of fraud and criminal activities, the identification of the proceeds of unlawful activities and the combating of money laundering activities.

Appendix B – Data Privacy

This Data Privacy Addendum (“Addendum”) is incorporated into and amends the Agreement (as defined below). The Client (“Client”) and AIRE Consulting (including any member(s) of the AIRE Consulting corporate group that is or are party to the Agreement) agree as follows:

1. DEFINITIONS

“Authorized Sub-processors” means entities AIRE Consulting engages to provide services for Client that Client has approved to perform the services.

“Client” means each party to the Agreement other than AIRE Consulting.

“Controller” means the party that determines the purpose and means of processing personal information.

“Data Privacy Laws” includes any laws, regulations, and secondary legislation, and orders and industry standards implementing or supplementing such provisions, concerning privacy or data protection, including but not limited to the General Data Protection Regulation (GDPR) and the California Consumer Protection Act (CCPA).

“Personal Information” means any information relating to an identified or identifiable natural person. An identifiable natural person is one who can be identified, directly or indirectly, by reference to an identifier such as a name, an identification number, location data, or an online identifier, or to one or more factors specific to the physical, physiological, genetic, mental, economic, cultural or social identity of that natural person.

“Process” and “Processing” means any operation performed upon Personal Information such as collection, organization, storage, alteration, retrieval, use, dissemination, erasure or destruction.

“Agreement” means the agreement for the provision of services by AIRE Consulting to the Client to which this Addendum is attached (including, without limitation, all statements of work, amendments, addendums, schedules and attachments thereto).

2. USE OF PERSONAL INFORMATION AND HANDLING RESTRICTIONS

Where required by applicable Data Privacy Laws, AIRE Consulting will be data processor and Client will be the data Controller for all Personal Information. Client will ensure that all privacy notices required to enable AIRE Consulting and any Authorized Sub-processors to carry out their obligations in relation to the Personal Information are provided to the relevant data subjects. Client will ensure that any Personal Information transferred to AIRE Consulting can be lawfully Processed by AIRE Consulting or any authorized sub-processors.

AIRE Consulting will implement and maintain security measures, procedures, and practices appropriate to the nature of Personal Information and adequate under the Data Privacy Laws to protect Personal Information from unauthorized access, destruction, use, modification, or disclosure (“Privacy / Security Incident”). AIRE Consulting will inform Client without undue delay when it becomes aware of any actual or suspected Privacy / Security Incident unless the incident is unlikely to result in a risk to the rights and freedoms of the individuals concerned, and will timely provide all information and cooperation reasonably requested by Client. AIRE Consulting will promptly take reasonable measures and actions necessary to remedy or mitigate the effects of the Privacy / Security Incident and will keep Client informed of all material developments in relation to it. Unless applicable law requires, AIRE Consulting will not notify any third party other than AIRE Consulting’s insurers or professional advisers or regulatory authority of an actual or suspected Privacy / Security Incident without Client’s prior written authorization.

7. COMPLIANCE

 AIRE Consulting will comply with all Data Privacy Laws in the fulfilment of its obligations and otherwise in its rendering of Services to Client. AIRE Consulting represents and warrants that it has implemented written guidelines to ensure its compliance with its obligations under this Addendum and will provide those written guidelines to Client on request.

 8. GENERAL

Except as expressly set forth in this Addendum, the terms of the Agreement shall remain unmodified and in full force and effect. If there is a conflict between the terms of the Agreement and the terms of this Addendum, the terms of this Addendum shall prevail. If applicable law requires survival of any terms of this Addendum, such terms will survive after expiration or termination of the  Processing. This Addendum is part of and governed by the terms and conditions of the Agreement.

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OVERARCHING METHODOLOGY

Our approach for this assignment is based on the best professional standards which are widely accepted globally by funders, investors, and operators. This outline, supported by our experience and expertise, will align the report with your goals and objectives.

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SITE ANALYSIS

Analysis of the proposed development site, highlighting the Strengths, Weaknesses, Opportunities, and Threats

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MARKET OVERVIEW

Overview of the relevant market from an economic and real estate perspectives

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DEVELOPMENT RECOMMENDATIONS

Market driven development recommendations including development brief, component specifications and market / price positioning

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FINANCIAL & INVESTMENT ANALYSIS

Assessment of the financial viability of the project based on the provided development recommendations

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DETAILED METHODOLOGY: FEASIBILITY STUDY

SITE ANALYSIS

AIRE will evaluate the proposed development site to assess its real estate development opportunities and constraints.  This task will aid in framing the real estate uses relevant to the site and location as well as inform on the quantum of real estate that could be built on site. The analysis will assess the following aspects:

 

•Site location

•Site size

•Permissible uses, built-up area, height, coverage ratio

•Access from existing and proposed transport infrastructure

•Egress from existing and proposed transport infrastructure

•Visibility from principal access routes

•Land uses in the vicinity

•Proximity to demand generators

•Proximity to competing supply

•Advantages/disadvantages of the proposed site versus that of major competitors

 

This task will be summarized with a SWOT Analysis evaluating the Strengths, Weaknesses, Opportunities and Threats for the subject site.

 

The deliverable for this task will be 1 page summarizing the SWOT Analysis.

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MARKET OVERVIEW

AIRE will perform an analysis of the relevant real estate market / asset class as per the Client’s project’s brief and limited to the following asset classes: Residential, Office, Retail and Hospitality.  This task will aid in assessing the potential of the project in terms of supply and demand.

 

The analysis will assess the following aspects for the relevant market:

•Supply analysis aggregating the number of assets, units, sqm GLA or rooms as applicable

•Demand analysis aggregating the potential demand for the relevant market / asset type

•Market indicators aggregating the sales prices, rental rates, occupancy rates, absorption rates etc. as applicable

 

This task will be summarized in 3 slides as follows:

•Supply analysis, including: overall market and specific market segment

•Factors influencing the market, including: overall market and specific market segment

•Key markets indicators, including: overall market and specific market segment

The deliverable for this task will be 3 pages summarizing the Market Overview.

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DEVELOPMENT RECOMMENDATIONS

Based on the findings of Tasks 1 and 2, AIRE will provide market-driven development recommendations for the proposed project. This will encompass the following:

•Concept and Development Vision

•Indicative Land Use Plan

•Development Programme, Massing, and Leasable areas

•Proposed size and mix of uses

•Product configuration and unit sizing

•Parking provision, amenities and facilities

•Asset positioning (e.g. low-end, mid-end, high-end etc.)

•Revenue metrics such as sales prices, rental levels, occupancy rates etc. as applicable

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This task will be summarized in 5 slides as follows:

•Concept and Development Vision

•Development Brief

•Component specifications

•Market and price positioning

•Comparable developments (max 5 comparable assets)

•The deliverable for this task will be 5 pages summarizing the Development Recommendations.

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FINANCIAL & INVESTMENT ANALYSIS

AIRE will conduct a financial assessment to ascertain the financial viability of the proposed recommendations. The model will be developed using Excel software and will assess project viability in terms of the following:

•Development Cash Flows

•Project and Equity IRR

•Net Present Value (NPV)

•Sensitivity Analysis (on revenues and costs)

 

Based on the market analysis and our projections of supply and demand, we will utilize benchmarks from the market and from our database, together with our expertise, to prepare costs and revenues schedules.

 

Inputs into the financial model that will be provided include inter alia the following:

•Revenue assumptions such as sales prices, rental rates, occupancy / absorption rates etc.

•Operational costs

•Brokerage and marketing fees

•Project management fees

•Inflation rates

•Cap rates

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The cost inputs such land cost, infrastructure, landscaping, and construction costs and financing assumptions will be provided by the client.

 

This task will be summarized in 5 slides as follows:

​•Assumptions used for financial analysis

•Financial results summary

•Sensitivity analysis

•Cash flows statement

•Return analysis

 

The deliverable for this task will be 5 pages summarizing the financial and investment analysis. The deliverable for this task does not include the financial model.

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DETAILED METHODOLOGY: HIGHEST & BEST USE STUDY

SITE ANALYSIS

AIRE will evaluate the proposed development site to assess its real estate development opportunities and constraints.  This task will aid in framing the real estate uses relevant to the site and location as well as inform on the quantum of real estate that could be built on site.

The analysis will assess the following aspects:

•Site location

•Site size

•Permissible uses, built-up area, height, coverage ratio

•Access from existing and proposed transport infrastructure

•Egress from existing and proposed transport infrastructure

•Visibility from principal access routes

•Land uses in the vicinity

•Proximity to demand generators

•Proximity to competing supply

•Advantages/disadvantages of the proposed site versus that of major competitors

 

This task will be summarized with a SWOT Analysis evaluating the Strengths, Weaknesses, Opportunities and Threats for the subject site.

The deliverable for this task will be 1 page summarizing the SWOT Analysis.

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MARKET OVERVIEW

AIRE will perform an analysis of the relevant real estate market / asset class as per the Client’s project’s brief and limited to the following asset classes: Residential, Office, Retail and Hospitality.  This task will aid in assessing the potential of the project in terms of supply and demand.

 

The analysis will assess the following aspects for the relevant market:

•Supply analysis aggregating the number of assets, units, sqm GLA or rooms as applicable

•Demand analysis aggregating the potential demand for the relevant market / asset type

•Market indicators aggregating the sales prices, rental rates, occupancy rates, absorption rates etc. as applicable

 

This task will be summarized in 3 slides as follows:

•Supply analysis, including: overall market and specific market segment

•Factors influencing the market, including: overall market and specific market segment

•Key markets indicators, including: overall market and specific market segment

•The deliverable for this task will be 3 pages summarizing the Market Overview.

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DEVELOPMENT RECOMMENDATIONS

Based on the findings of Tasks 1 and 2, AIRE will provide market-driven development recommendations for the proposed project. This will encompass the following:

•Concept and Development Vision

•Indicative Land Use Plan

•Development Programme, Massing, and Leasable areas

•Proposed size and mix of uses

•Product configuration and unit sizing

•Parking provision, amenities and facilities

•Asset positioning (e.g. low-end, mid-end, high-end etc.)

•Revenue metrics such as sales prices, rental levels, occupancy rates etc. as applicable

 

This task will be summarized in 5 slides as follows:

•Concept and Development Vision

•Development Brief

•Component specifications

•Market and price positioning

•Comparable developments (max 5 comparable assets)

•The deliverable for this task will be 5 pages summarizing the Development Recommendations.

​

FINANCIAL & INVESTMENT ANALYSIS

AIRE will conduct a financial assessment to ascertain the financial viability of the proposed recommendations. The model will be developed using Excel software and will assess project viability in terms of the following:

•Development Cash Flows

•Project and Equity IRR

•Net Present Value (NPV)

•Sensitivity Analysis (on revenues and costs)

 

Based on the market analysis and our projections of supply and demand, we will utilize benchmarks from the market and from our database, together with our expertise, to prepare costs and revenues schedules.

 

Inputs into the financial model that will be provided include inter alia the following:

•Revenue assumptions such as sales prices, rental rates, occupancy / absorption rates etc.

•Operational costs

•Brokerage and marketing fees

•Project management fees

•Inflation rates

•Cap rates

​

The cost inputs such land cost, infrastructure, landscaping, and construction costs and financing assumptions will be provided by the client.

 

This task will be summarized in 5 slides as follows:

•Assumptions used for financial analysis

•Financial results summary

•Sensitivity analysis

•Cash flows statement

•Return analysis

 

The deliverable for this task will be 5 pages summarizing the financial and investment analysis. The deliverable for this task does not include the financial model.

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PROJECT PROGRAMME AND TIMELINE

We recognize the importance of completing this assignment in a timeframe that agrees with our Client’s overall internal planning timeline.  We anticipate completing our Draft Final Report of the Study in 5 working days from the official project commencement (i.e. upon receipt of all project assumptions and initial retainer payment).

 

We assume to receive all comments on our draft deliverables in writing within two (2) weeks of delivery, following which we will submit the final deliverables within two (2) weeks.  All deliverables will be in English and provided as electronic copies in PDF format (unless otherwise agreed). 

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PROJECT FEES

Our requested fee for undertaking the proposed study and completing the scope of work described earlier is USD 7,000, exclusive of all applicable taxes and paid upfront before the report is to be delivered by AIRE.

All payments due to AIRE under the terms of the agreement are expressed to be exclusive of all applicable taxes.

 

If AIRE has not issued a valid tax invoice under the applicable law prior to the due date for the payment of the consideration for the service, the Client shall pay the amount of the VAT to AIRE upon receipt of a valid tax invoice from AIRE. 

 

The Client shall indemnify and hold AIRE harmless from and against any and all costs of whatever nature and howsoever caused arising as a result of the Client’s failure to pay to AIRE, if required under the applicable law, the amount of VAT shown on the tax invoice in accordance with the payment terms set out above. 

 

The draft report will only be submitted to the Client upon receipt of full payment (credit card and / or bank transfer, as applicable).

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