The Hidden Market Standard TOB
The Hidden Market Standard TOB
TERMS OF BUSINESS FOR THE INTRODUCTION OF PERMANENT OR FIXED TERM CONTRACT OR CONTRACTORS
1.1 In these Terms of Business, the following definitions apply:
“Applicant” means the person introduced by the Agency to the Client for an Engagement including any officer or employee of the Applicant if the Applicant is a limited company and members of the Agency’s own staff;
“Client” means the person; firm or corporate body together with any subsidiary or associated Company as defined by the Companies Act 1985 to which the Applicant is introduced;
“Agency” means The Hidden Market Ltd, company number 120604042;
“Engagement” means the engagement, employment or use of the Applicant by the Client or any third party on a permanent or temporary basis, whether under a contract of service or for services; under an agency, licence, franchise or partnership agreement; or any other engagement; directly or through a limited company of which the Applicant is an officer or employee
“Introduction” means (i) the Client’s interview of an Applicant in person or by telephone, skype or other means, following the Client’s instruction to the Agency to search for an Applicant; or (ii) the passing to the Client of a curriculum vitae or information which identifies the Applicant; and which leads to an Engagement of that Applicant;
“Remuneration” includes base salary or fees, car allowance or company car, guaranteed bonus and commission earnings, allowances, inducement payments, and all other payments and taxable (and, where applicable, non-taxable) emoluments payable to or receivable by the Applicant for services rendered to or on behalf of the Client.
1.2 Unless the context requires otherwise, references to the singular include the plural.
1.3 The headings contained in these Terms of Business are for convenience only and do not affect their interpretation.
2 THE CONTRACT
2.1 These Terms constitute the contract between the Agency and the Client and are deemed to be accepted by the Client by virtue of an Introduction to, or the Engagement of an Applicant or the passing of any information about the Applicant to any third party following an Introduction.
2.2 These Terms contain the entire agreement between the parties and unless otherwise agreed in writing by a representative of the Agency, these Terms of Business prevail over any other Terms of Business or purchase conditions put forward by the Client.No variation or alteration to these Terms shall be valid unless the details of such variation are agreed between the Agency and the Client and are set out in writing and a copy of the varied terms is given to the Client stating the date on or after which such varied terms shall apply.
3 NOTIFICATION AND FEES
3.1 The fee payable to the Agency by the Client for an Introduction resulting in an Engagement is calculated at 30% of gross Remuneration applicable during the first 12 months of the Engagement. VAT will be charged on the fee where applicable.
3.2 The Client agrees:
3.2.1 To notify the Agency immediately of any offer of an Engagement which it makes to the Applicant; where the client has offered the applicant directly
3.2.2 To notify the Agency immediately that its offer of an Engagement to the Applicant has been accepted and to provide details of the Remuneration to the Agency; and
3.2.3 To pay the Agency’s fee within 7 days of the date of invoice.
3.3 Fees are incurred by the Client at the signing of contracts, at which point the agency will render the invoice to the client, except in the circumstances set out in clause 5.1 below.
3.4 The Agency reserves the right to charge interest on invoiced amounts unpaid for more than 7 days at the rate of 4% of the gross fee for each month (or part thereof) for which the debt remains unpaid beyond the due date. Where the customer does not settle its debt with The Hidden Market Ltd within the terms agreed, The Hidden Market Ltd has the right to remove all discounts and revert to standard rates. Whereby standard rates for placements being 30% of annual renumeration.
3.5 In the engagement of candidates on a fixed term basis of less that 12 months the fee with be a full 12-month fee. Should the client want to take a candidate on temporary contract then The Hidden Market recommends that the client takes the candidate on as a contractor and reviews our contract terms.
3.6 Our minimum fee on permanent placements is £8000. This fee applied to any placement, including part time placements.
4.1 If the Engagement terminates before the expiry of 6 weeks from the commencement of the Engagement the fee will be refunded in accordance with the accompanying Scale of Refund set out in the schedule here:
Week left - Percentage of fee refunded
1 and 2 - 75%
3 and 4 - 50%
5 and 6 - 25%
4.2 In order to qualify for the following refund, the Client must pay the Agency’s fee within 7 days of the date of invoice and must notify the Agency in writing of the termination of the Engagement within 7 days of its termination.
4.2.1 The client is ineligible for a rebate when:
a. Where the Applicant is made redundant
b. Due to reorganisation, or a change in strategy by the client,
c. The candidate has been discriminated or any other kinds of acts to the candidate
SCHEDULE: SCALE OF REFUND
1 The following Scale of Refund only applies if the Client complies with the provisions of clause
3.2 of these Terms of Business.
2 Where the Applicant leaves during the first 6 weeks of the Engagement, a refund of the introduction fee shall be paid to the Client in accordance with the scale set out below, subject to the conditions in clause 4.1.
5 CANCELLATION FEE
5.2 If, after the offer of Engagement has been accepted by the Applicant, the Client decides for any reason not to proceed with the appointment prior to the Applicant starting work, the client shall be liable to pay the Agency 50% of the fee set out in clause 3.
6 INTRODUCTIONS & NON-SOLICITATION
6.2 Introductions of Applicants are confidential. The disclosure by the Client to a third party of any details regarding an Applicant introduced by the Agency which results in an Engagement with that third party within 24 months of the Introduction renders the Client liable to payment of the Agency’s fee set out in clause 3.
6.3 An introduction fee calculated in accordance with clause 3.1 will be charged in relation to any Applicant engaged as a consequence of or resulting from an introduction by or through the Agency, whether direct or indirect, within 24 months from the date of the Agency’s Introduction.
6.4 Where the amount of the actual Remuneration is not known the Agency will charge a fee calculated in accordance with clause 3.1 on the minimum level of remuneration applicable for the position in which the Applicant has been engaged with regard to any information supplied to the Agency by the Client and/or comparable positions in the market generally for such positions.
7 SUITABILITY AND REFERENCES
7.2 The Agency endeavours to ensure the suitability of any Applicant introduced to the Client; that the Applicant has the experience, training, qualifications and any authorisation which the Client considers necessary or which may be required by law or by any professional body; and that the Applicant is willing to work in the position which the Client seeks to fill.
7.3 At the same time as proposing an Applicant to the Client the Agency shall inform the Client of such matters in clause 7.1 as they have obtained confirmation of.
7.4 The Agency endeavours to take all such steps as are reasonably practicable to ensure that the Client and Applicant are aware of any requirements imposed by law or any professional body to enable the Applicant to work in the position which the Client seeks to fill.
7.5 The Agency endeavours to take all such steps as are reasonably practicable to ensure that it would not be detrimental to the interests of either the Client or the Applicant for the Applicant to work in the position which the Client seeks to fill.
7.6 Notwithstanding clauses 7.1, 7.2, 7.3 and 7.4 above the Client shall satisfy itself as to the suitability of the Applicant and the Client shall take up any references provided by the Applicant to it, The Hidden Market Ltd acts as a screener of talent and as such is not liable to the clients decision. The Client is responsible for checking the identify of the candidate, obtaining work permits and/or such other permission to work as may be required, for the arrangement of medical examinations and/or investigations into the medical history of any Applicant, and satisfying any medical and other requirements, qualifications or permission required by law of the country in which the Applicant is engaged to work.
7.7 To enable the Agency to comply with its obligations under clauses 7.1, 7.2, 7.3 and 7.4 above the Client undertakes to provide to the Agency details of the position which the Client seeks to fill, including the type of work that the Applicant would be required to do; the location and hours of work; the experience, training, qualifications and any authorisation which the Client considers necessary or which are required by law or any professional body for the Applicant to possess in order to work in the position; and any risks to health or safety known to the Client and what steps the Client has taken to prevent or control such risks. In addition the Client shall provide details of the date the Client requires the Applicant to commence, the duration or likely duration of the work; the minimum rate of remuneration, expenses and any other benefits that would be offered; the intervals of payment of remuneration and the length of notice that the Applicant would be entitled to give and receive to terminate the employment with the Client.
8 SPECIAL SITUATIONS
8.2 Where the Applicant is required by law, or any professional body to have any qualifications or authorisations to work in the position which the Client seeks to fill; or the work involves caring for or attending one or more persons under the age of eighteen, or any person who by reason of age, infirmity or who is otherwise in need of care or attention, the Agency will take all reasonably practicable steps to obtain and offer to provide copies of any relevant qualifications or authorisations of the Applicant, two references from persons not related to the Applicant who have agreed that the references they provide may be disclosed to the Client and has taken all reasonably practicable steps to confirm that the Applicant is suitable for the position. If the Agency is unable to do any of the above it shall inform the Client of the steps it has taken to obtain this information in any event.
8.3 Where there is a significant adverse change in the client’s business which prevents the Employment Business from obtaining sufficient insurance cover over the clients account, the Employment Business may, at its option, insist on immediate payment to bring the account down to a level the Employment Business can obtain insurance on. In the absence of suitable security, the Employment Business can, where it is unable to get sufficient cover from its insurers, terminate credit/business or reduce credit/business to a level it is comfortable with.
8.4 For the avoidance of doubt, a fee will be due from the client if the agencies own staff are directly or indirectly introduced to the client by virtue of their employment with the agency, this fee will be calculated at 50% of the first years salary with the client and will not be subject to any refund unless expressly agreed in writing before the placement date.
9.2 The Agency shall not be liable under any circumstances for any loss, expense, damage, delay, costs or compensation (whether direct, indirect or consequential) which may be suffered or incurred by the Client arising from or in any way connected with the Agency seeking an Applicant for the Client or from the Introduction to or Engagement of any Applicant by the Client or from the failure of the Agency to introduce any Applicant. For the avoidance of doubt, the Agency does not exclude liability for death or personal injury arising from its own negligence.
10 CONTRACTOR DAY RATE EMPLOYEES:
10.2 The contractor is taken on by the client on a day rate which is the contractor’s daily rate plus the 30% standard contract rate for the agencies introduction unless a further rate is agreed in writing by a director of the agency.
10.3 Should the client take the contractor on a permanent basis the client agrees to pay a full recruitment fee of 30% of the agree salary or the agreed rate otherwise stated in writing.
10.4 The client adheres to the terms stipulated in 3.2, 3.3 & 3.4.
10.5 Invoices are generated on a monthly basis and are to be signed off and agreed in the portal provided by the agency.
10.6 The rebates specified in 4. are not valid for contractors. For the avoidance of doubt a contractor is paid on a daily rate and if the client is not due a rebate or refund on this.
10.7 Cancellation described in clause 5 is applicable to engaging with day rate contractors and is calculated on the project length and the day rate agreed with the contractor, in accordance with the terms set out in clause 3.
11.2 These Terms are governed by the law of England & Wales and are subject to the exclusive jurisdiction of the Courts of England & Wales .……………………………………………………………………………………
I confirm that the information supplied to The Hidden Market Ltd may be used for Recruitment and Consulting purposes under the Data Protection Act and that The Hidden Market Ltd can advertise vacancies on my behalf.
I confirm that I am duly authorised to acknowledge and accept the Terms and Conditions of business for the supply of directly employed permanent or fixed term contract staff.
Signed ……………………………………………………….. Signed ……………………………………………………. Date ……………………….
Position ……………………………………………………... Position …………………………………………………… Date ……………………….
On behalf of ……………………………………………….. On behalf of The Hidden Market Ltd………………………………………