Terms & Conditions | Following the Rules

Contract Validity: One Year from the effective date
Keys to be made available to Formula Group as per requirement
Owner to provide details of AMC Vendors for valid contracts. Formula’s role would only be limited to coordination and therefore Formula shall not be held responsible for any delay/damages with respect to such work
Repairs/replacements in the premises to be carried out by Formula only after approval by the owner and after the transfer of the requisite amount
Cleaning service does not include any dry cleaning/washing of any fabric, which would be at additional cost
Any courier/postal expenses shall be borne by the owner
Service Fee to be paid quarterly in advance against invoices within 7days of receipt of the invoice
Payments to be made in Favor of “Formula Corporate Solutions India Pvt. Ltd.”
Delayed payments (beyond 15 days) shall attract a penal interest of 18% per annum on a prorata basis
All invoices are subject to GST as applicable. (Currently @ 18%)
30 days Notice by either party for termination of Service contract
In no circumstances, Formula’s liability would exceed the amount equivalent to one month consideration payable by the Owner under this contract excluding leasing service fee

Owner to provide authorisation in order to coordinate with Tenant and have access to the premises as and when required
All work in the premises to be carried out by Formula only after approval by the owner and after the transfer of the requisite amount
Payments to be made in Favor of “Formula Corporate Solutions India Pvt. Ltd.”
All payments to be made within 7 days of receipt of invoice
Delayed payments (beyond 15 days) shall attract a penal interest of 18% per annum on a prorata basis
All invoices are subject to GST as applicable. (Currently @ 18%)

Authorisation to be provided to Formula by Owner in order to communicate with Tenant and Society
All expenses in relation to the documentation on behalf of the owner to be carried out by Formula only on receipt of the requisite amount from the owner
Postal charges if any to be paid by Owner as per actuals
Payments to be made in Favor of “Formula Corporate Solutions India Pvt. Ltd.”
All payments to be made within 7 days of receipt of invoice
Delayed payments (beyond 15 days) shall attract a penal interest of 18% per annum on a prorata basis
All invoices are subject to GST as applicable. (Currently @ 18%)

Agreement to be executed for the furniture/appliances rental between Formula and Client
All repairs and replacements of the inventory shall be provided by Formula during the rental period
All Payments to be made in Favor of “Formula Corporate Solutions India Pvt. Ltd.”
All payments to be made within 7 days of receipt of invoice
Delayed payments (beyond 15 days) shall attract a penal interest of 18% per annum on a prorated basis
GST shall be applicable. Currently @ 18%
Valid till 31st March 2021

Signing of the service contract between the owner and Formula Corporate Solutions India Pvt. Ltd.
Minimum 1 month notice is required to terminate the services
All Payments to be made in Favor of “Formula Corporate Solutions India Pvt. Ltd.”
All payments to be made within 7 days of receipt of invoice
Delayed payments (beyond 15 days) shall attract a penal interest of 24% per annum on a prorated basis
GST shall be applicable. Currently @ 18%
Valid till 31st March 2021

Signing of the service contract
Minimum 1 month notice is required to terminate the services
All Payments to be made in Favor of “Formula Corporate Solutions India Pvt. Ltd.”
All payments to be made within 7 days of receipt of invoice
Delayed payments (beyond 15 days) shall attract a penal interest of 24% per annum on a prorated basis
GGST shall be applicable. Currently @ 18%
Valid till 31st March 2021