Terms of Business

(June 2015)

Conditions

These terms apply between Granat Executive Search e.U. and the client unless varied in writing upon mutual agreement between Granat Executive Search e.U. and the client; they are deemed to have been accepted once Granat Executive Search e.U. starts work on an assignment.

Fee

Granat Executive Search e.U. fee is a fixed fee to be notified to the client (“the Fee”). The Fee is agreed in advance and is non-refundable. The Fee proposed by Granat Executive Search e.U. in writing remains valid for 1 month from the date of such proposal.

Payment and VAT

The Fee is payable, unless agreed otherwise in writing, within 14 banking days upon receipt of the corresponding invoice from Granat Executive. The invoice’ amounts are subject to VAT (if applicable).

Multiple Appointments

The Fee is payable each and every time any candidate presented by us accepts an offer from the client or any associated body within 24 months of presentation, regardless of whether the offer is in relation to the position which we originally presented such candidate for.

Candidates Named or Recommended by Our Client

We will treat candidates named or recommended by our client in the same manner as any other candidate. The source of any candidate shall not affect the payment of the Fee.

Expenses

Granat Executive Search e.U. recharges clients monthly for all out-of-pocket expenses incurred by consultants and candidates including travel, accommodation and other disbursements.

Cancellations

An assignment may be cancelled at any time. Once appointed with an assignment, the first instalment is payable. If an assignment is cancelled on or after the 20th day after appointment, the second instalment is payable. If an assignment is cancelled after submittal of the confidential reports on two or more candidates, 50% of the third instalment is payable. If an assignment is cancelled after the third instalment became due, the full Fee is payable.

Assignments on Hold

If an assignment is “on hold” for over 60 days either due to lack of meaningful communication from our client or following our client’s communication to that effect, it will be treated as cancelled and the appropriate payment will be due under the Cancellations paragraph above.

Candidate Confidentiality

Candidate details provided by us may not be passed to a third party under any circumstances. We undertake to treat all information and data submitted to us by clients and candidates strictly confidential.

Liability

Granat Executive Search e.U. is in no way liable for any act or omission of any candidate and our client shall be responsible for making its own appraisal of any candidate’s ability and character. All warranties, conditions and other terms implied by statute or common law are, to the fullest extent permitted by law, excluded from this agreement. Granat Executive Search e.U. shall not be liable in any manner for any loss to the fullest extent such exclusions are permitted by law.

Guarantee

Granat Executive Search offers the clients a guarantee. The guarantee period depends on the nature of the vacancy and is between 6 and 12 months. If an appointee leaves our client within the agreed guaranteed period, providing this is not related to redundancy, change of ownership or a change in responsibilities, or remuneration or reporting lines, we undertake to do the work again, charging for out-of-pocket expenses only. This guarantee only applies where our client has paid our invoices on time in accordance with the Payment clause above.

Law

These terms shall be governed by and construed in all respects in accordance with Austrian Law and the parties submit to the exclusive Jurisdiction of the Courts of Republic of Austria.


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