These General Terms and Conditions apply to Office/Co-Working, Virtual Office and Membership agreements for services supplied to you by Venture X.
1.1. Nature of an agreement: At all times, each Venture X location remains in our possession and control. You accept that an agreement creates no tenancy interest, leasehold estate or other real property interest in your favor with respect to the accommodation. Occupation of the Venture X premises by you is the commercial equivalent of an agreement for accommodation in a hotel. Venture X is giving you the right to share the use of the Venture X location with our staff and members and other clients.
1.2. House Rules: The House Rules, which are incorporated into these terms and conditions, are in place and enforced to ensure that all clients have a professional environment to work in.
1.3. Availability at the start of an agreement: If for any reason Venture X cannot provide the services or accommodation at the location stated in an agreement by the start date, Venture X shall have no liability to you or your company for any loss or damage but you may either move to another Venture X location (subject to availability), delay the start of the agreement or cancel it.
1.4. AUTOMATIC RENEWAL: This agreement will renew automatically for the same period as the current term until it is ended by you or Venture X with proper notice. All agreements will have an end date on the last day of the month. Pricing on the auto-renewed agreement will be reflective of the current deemed market rate. If you do not want to renew your agreement, you can provide a notice, in writing, as described below prior to the conclusion of your notice period. You can renew your agreement prior to your notice period and avoid the market rate auto renewal by providing notice of intent to renew. A signed renewed license is required prior to the conclusion of your notice period. Notice periods are as follows, based on license term:
1.5. Notice to Vacate Requirements: The following notice periods apply only to the corresponding membership types as outlined below
1.6. In the event that Venture X is permanently unable to provide the services and accommodation at the premises stated in your agreement, Venture X will offer you accommodations at one of our other Venture X locations. In the unlikely event Venture X is unable to find an alternative accommodation that is acceptable to you, your agreement will terminate and you will only have to pay monthly fees up to that date and for any additional services you have used.
1.7. Terminating an agreement immediately: Venture X may terminate your agreement immediately by giving you notice if (a) you become insolvent or bankrupt; or (b) you breach one of your obligations which cannot be cured, or which we have given you notice to cure and you have failed to do so within 14 days of that notice; or (c) your conduct, or that of someone at the Venture X location with your permission or invitation, is incompatible with professional office use and, (i) that conduct continues despite the notice that has been provided, or (ii) that conduct is conducive enough (in Venture X’s reasonable opinion) to warrant immediate termination; or (d) you are in breach of the “Compliance With Law” clause below. If Venture X puts an end to an agreement for any of the reasons referred to in this clause it does not put an end to any of your contractual financial obligations, including, without limitation, for the remainder of contract period would have lasted if Venture X had not terminated it.
1.8. When an Office agreement ends: When an agreement ends you must vacate your office immediately, leaving it in the same state and condition as it was when you took occupancy of it. Upon your departure of your office or if you choose to move to a different office within the location, we will charge a fixed office restoral fee to cover normal cleaning and restoral fees. This office restoral fee will be charged a minimum of $200 per office. In addition, Venture X reserves the right to charge additional reasonable fees for any additional repairs above and beyond normal wear and tear. If any property is left in your office, we have the right to dispose of this at your cost without any financial responsibility to you for any of its proceeds of sale. If you do not vacate the office space when an agreement has ended, you are solely responsible for any use, loss, claim or liability we may incur as a result of your failure to vacate. Fees will be calculated by the day at a rate 15% higher than market rate
1.9. Member acknowledges that from time to time, Venture X and its affiliates may capture photos or videos on the premises for legitimate business purposes, including marketing and promotions. Member agrees that any photos, videos, or other media taken of them on Venture X premises are the property of Venture X and any affiliated entities or third parties acting on its behalf. Venture X may use this content for marketing or promotional purposes without needing further approval.
2.1. Business Operations: You may not operate a business that competes with Venture X’s business. You are only permitted to use the address of this Venture X location as your registered office address if it is permitted by law and you have completed a USPS Form 1583, including submission of two forms of identification and notarization. You must only use the accommodation for legitimate office business purposes. If Venture X determines that any request for services is excessive, we reserve the right to charge an additional fee. To maintain a productive and professional environment for all members, we also ask that you limit excessive visits from members of the public.
2.2. Accommodation:
2.2.1. Alterations or Damage: As a member, you are liable for any damage caused by you, your company, your employees, or those visiting the Venture X location with your permission, whether express or implied; including but not limited to all employees, contractors and/or agents.
2.2.2. IT Installations: Venture X is very proud of our IT infrastructure and its upkeep. Any installation, cabling, IT or telecom connections are prohibited without Venture X’s consent. Venture X has the right to refuse any of these services at our discretion. In addition, and only after Venture X provides consent for such installation you must also permit a Venture X representative to oversee any such installations (for example IT, Telecom, or electrical systems) and to verify that that such installations do not interfere with the use of the accommodation by other members, Venture X or any landlord of the building. Fees for installation and removal will be at the member’s cost.
2.2.3. Use of the Accommodation: Your agreement will specify the office(s) allocated for your and your company’s use. You will have a non-exclusive right to occupy the designated office(s). While Venture X reserves the right to reassign office space to ensure efficient operation of the location, any such reassignment will be to an office of reasonably equivalent size and features. Venture X will engage in good faith discussions with you before making any changes and will provide reasonable advance notice. No relocation will occur without first exploring mutually agreeable options.
2.2.4. Access to the Accommodation: In order to maintain exemplary service, Venture X may need to enter your office and may do so at any time, including without limitation, in an emergency, for cleaning, mail and/or package delivery, and inspection or in order to resell the space provided you have given notice to terminate. Venture X shall always do its best to respect any of the reasonable security procedures to protect the confidentiality of your business.
2.3. Membership:
2.3.1. If you have subscribed to a Private Office, Desk Membership, or other premium agreement, you will have access to all Venture X locations to work within the common areas during standard business hours, along with access to discounted member services. To ensure a seamless experience, we kindly ask that you coordinate your visit in advance by reaching out to the onsite team at your home location. Our team will be happy to assist with arrangements and confirm availability, so you can make the most of your access and enjoy the same level of hospitality wherever your work takes you.
2.3.2. Day Pass Usage: Day passes are measured in whole days and any unused passes do not roll over to the following month. Day passes are intended for occasional use and are not a substitute for a full-time workspace. All workspaces must be fully cleared at the end of each day. You are solely responsible for your personal belongings while at the Venture X location, and Venture X is not liable for any unattended property. If your usage exceeds your allotted day passes, you will be required to purchase additional passes. Additional guests will be required to purchase their own day pass.
2.3.3. As a Member, you may not use any other Venture X locations as your business address without an accompanying office or virtual office agreement in place with that other location. Any use of the Venture X address in such a way will result in an automatic enrollment in the Virtual Office product for the same term as your membership and you will be invoiced accordingly.
2.4. Compliance with Law: You must comply with all relevant laws and regulations in the conduct of your business. You must not do anything that may interfere with the use of the Venture X location by the staff or other members (including but not limited to political campaigning or immoral activity), cause any nuisance or annoyance, or cause loss or damage to Venture X (including damage to reputation) or to the owner of any interest in the building. If Venture X is advised by any government authority or other legislative body that it has reasonable suspicion that you are conducting criminal activities from the Venture X location, or you are or become subject to any government sanctions, then Venture X shall be entitled to terminate any and all of your agreements with immediate effect. You acknowledge that any breach by you, your company or your employees of this clause shall constitute a material default, entitling Venture X to terminate your agreement without further notice.
2.5. Data protection: You acknowledge that Venture X may collect and process personal data from you and your employees as strictly necessary to ensure compliance with applicable laws and regulations and to enable Venture X effectively to provide services to you. You acknowledge and accept that such personal data may be transferred or made accessible to other entities in the Venture X group, wherever located, for the purposes of providing the services, in each case in accordance with all applicable data protection legislation.
2.6. Employees: Both Venture X and the Member acknowledge the investment made in hiring and training their respective employees. Therefore, neither party may knowingly solicit or offer employment to the other’s staff employed at the Venture X location during the term of this agreement and for a period of three (3) months following the end of their employment. To compensate for the disruption and investment in staff, the breaching party agrees to pay the other an amount equal to six (6) months of the employee’s salary as liquidated damages upon demand.
2.7. Confidentiality: The terms of an agreement are confidential. Neither of us may disclose them without the other’s consent unless required to do so by law or an official authority. This obligation continues for a period of 3 years after an agreement ends.
2.8. Assignment: An agreement is personal to you and cannot be transferred to anyone else without prior consent from Venture X unless such transfer is required by law. However, Venture X will not unreasonably withhold our consent to assignment to an affiliate provided that you execute our standard form of assignment. Venture X may transfer any agreement and any and all amounts payable by you under an agreement to any other member of the Venture X group.
2.9. Applicable law: An agreement is interpreted and enforced in accordance with the law of the place where the Venture X is located. Venture X and you both accept the exclusive jurisdiction of the courts of that jurisdiction. If any provision of these terms and conditions is held void or unenforceable under the applicable law, the other provisions shall remain in force.
3.1. Liability: To the maximum extent permitted by applicable law, Venture X is not liable to you in respect of any loss or damage you suffer in connection with an agreement, including without limitation any loss or damage arising as a result of our failure to provide a service as a result of mechanical breakdown, strike or other event outside of our reasonable control otherwise unless Venture X has acted maliciously. In no event shall Venture X be liable for any loss or damage until you provide written notice and give Venture X a reasonable time to correct the issue. If Venture X is liable for failing to provide you with any service under an agreement then, subject to the exclusions and limits set out immediately below, Venture X will pay any actual and the reasonable additional expense you have incurred in obtaining the same or similar service from elsewhere.
3.2. Insurance: It is your responsibility to arrange insurance for property which you bring into the Venture X location, for any post and packages you send or receive, and for your own liability to your employees and to third parties. Venture X strongly recommends that you put such insurance in place.
3.3. IT Services and Obligations: Venture X has security internet protocols in place and strive to provide seamless internet connectivity, however VENTURE X DOES NOT MAKE ANY REPRESENTATION AND CANNOT GUARANTEE ANY MAINTAINED LEVEL OF CONNECTIVITY TO OUR NETWORK OR TO THE INTERNET, NOR THE LEVEL OF SECURITY OF IT INFORMATION AND DATA THAT YOU PLACE ON IT. You should adopt whatever security measures (such as encryption) you believe are appropriate to your business. Your sole and exclusive remedy in relation to issues of reduced connectivity which are within Venture X reasonable control shall be for us to rectify the issue within a reasonable time following notice from you to Venture X.
3.4. EXCLUSION OF CONSEQUENTIAL LOSSES: VENTURE X WILL NOT IN ANY CIRCUMSTANCES HAVE ANY LIABILITY TO YOU FOR LOSS OF BUSINESS, LOSS OF PROFITS, LOSS OF ANTICIPATED SAVINGS, LOSS OF OR DAMAGE TO DATA, THIRD PARTY CLAIMS OR ANY CONSEQUENTIAL LOSS. VENTURE X STRONGLY RECOMMENDS THAT YOU INSURE AGAINST ALL SUCH POTENTIAL LOSS, DAMAGE, EXPENSE OR LIABILITY.
3.5. Financial Limitations to liability: In all cases, Venture X’s liability to you is limited, up to a maximum financial liability equal to 125% of the total fees paid by you between the date services under your agreement commenced and the date on which the claim in question arises.
4.1. Service Retainer: Your service retainer will be held by Venture X without generating interest as security for performance of all of your financial obligations under an agreement. The service retainer or any balance will be returned within 60 days of the termination of your agreement upon the settlement of your account in full. Venture X will deduct any outstanding fees and other costs due before returning the balance to you. The service retainer will be returned to you via mail to the address on your membership agreement. Your service retainer will be increased if the monthly office or virtual office fee increases upon renewal or as additional or larger offices are added to your agreement. Venture X reserves the right to increase your service retainer at any time during your agreement, if you fail to pay your financial obligation on time.
4.1.1 Early Termination & Service Retainer Policy:
4.1.1 In the event that a Member terminates their agreement with Venture X prior to the end of the agreed-upon term, or is in default due to non-payment, Venture X reserves the right to retain the full amount of the Member’s service retainer. The service retainer will be applied as liquidated damages to cover administrative costs, potential loss of revenue, and other expenses incurred due to early termination or default.
4.1.2 The Member remains obligated to pay the full amount due under the agreement, regardless of early termination or default. Any reduction or waiver of the remaining balance must be agreed upon in writing by both Venture X and the Member. Failure to pay the full amount outlined in the agreement may result in the account being referred to a collections agency and/or legal action to recover the outstanding balance.
4.1.3 By signing the agreement, the Member acknowledges and agrees to this policy and waives any right to a refund of the service retainer in the case of early termination or default due to non-payment.
4.2. Taxes and duty charges: You agree to pay promptly (i) all sales, use, excise, consumption and any other taxes and license fees which You are required to pay to any governmental authority (and, at Our request, You will provide to Us evidence of such payment) and (ii) any taxes paid by Us to any governmental authority that are attributable to your office, where applicable, including, without limitation, any gross receipts, rent and occupancy taxes, tangible personal property taxes, stamp tax/duty or other documentary taxes and fees.
4.3. Payment: All invoices from Venture X will be delivered electronically. Payments must be made through an automated method, such as ACH or credit card. A 3% processing fee applies to credit card payments; no fee is charged for ACH transactions. After two (2) declined ACH transactions, payments will only be accepted via cashier’s check, certified funds, or credit card.
4.4 To maintain uninterrupted services and access to your workspace and member benefits, Membership payments are due by the 5th of each month. If payment is not received on or before the 5th day of each month, a 15% late fee will be automatically applied to any unpaid balance as of the 6th of each month. Any declined payments or non-sufficient funds (NSF) transactions are subject to a $25 NSF/Decline Fee per occurrence.
4.4.1 To avoid any disruption to your membership, it is the Member’s responsibility to ensure that payment methods on file are current and valid. Please update any billing information or payment methods prior to the next billing cycle to ensure timely processing.
4.4.2 If payment is not received by the 15th of the month, the membership will be deemed in default and will be automatically terminated. At that point, any personal belongings will be cleared from dedicated spaces, and mail addressed to you or your company will be returned to sender immediately.
4.4.3 We value our Members and strive to provide a seamless experience. Our team is here to assist with any updates or questions you may have, please don’t hesitate to reach out.
4.5. Indexation: If an agreement is for a term of more than 12 months, Venture X will increase the monthly fee on each anniversary of the start date in line with the relevant inflation index of 3%.
4.6 Standard services: Monthly fees, plus applicable taxes, and any recurring services requested by you shall be payable monthly in advance.
4.7. Pay-as-you-use and Additional Variable Services: Fees for pay-as-you-use services, plus applicable taxes, shall be payable monthly in arears at our standard rates which may change from time to time and are available on request.
4.8. Discounts, Promotions and Offers: If You benefited from a special discount, promotion or offer, Venture X will discontinue that discount, promotion or offer without notice if you materially breach your agreement.
5.1. Upon termination of your membership, you must immediately discontinue the use of the Venture X address as your business address across all platforms, including websites, marketing materials, online listings, and any other public or private directories.
5.2. If you wish to continue receiving mail at the Venture X location, you are required to establish a separate Virtual Office membership, which may be set up on a month-to-month basis. This agreement allows us to legally continue accepting and managing mail on your behalf.
5.3. Venture X operates as a Commercial Mail Receiving Agency (CMRA). As such, you may not file a change-of-address request with the U.S. Postal Service to redirect mail from the Venture X address. You are responsible for manually notifying all clients, vendors, and contacts of your new mailing address.
5.4. Upon written request, any First-Class mail received and not picked up prior to your membership termination may be forwarded for a one-time fee of $25.
5.5. In the event that your membership is terminated, whether voluntary or involuntary, All mail received after the termination date, without an active Virtual Office membership will be returned to sender or the post office immediately.
HOUSE RULES
Respect: Venture X members must be highly respectful of their other Venture Xer’s. We are a professional workspace, where many companies are developing private and secure work. In order to keep the culture trustworthy, we ask that if you see someone’s monitor, white/black board drawings, or copies to keep it to yourself, and erase it from you memory. Follow the simple golden rule.
Volume Control: At Venture X you are welcome to use your phone at your desk, however we have provided with alternative areas for more privacy. These areas include, but not limited to, the phone booth couches, the outside seating area, as well as the conference rooms.
Pet Policy: Pets are not permitted at any Venture X location. The only exception is for certified service animals as defined by applicable law. Members who require the assistance of a service animal and the need for the service animal is not obvious, staff may ask for confirmation that the animal is required due to a disability and what task it performs. Emotional support animals, therapy animals, or pets that are not trained to perform specific tasks related to a disability are not permitted.
Internet Usage: No spamming, posting, or downloading of any files, software, programs, etc., that you know, or should know are illegal and/or inappropriate. Any use of hacking or misuse of one’s computer within Venture X’s workspace will not be tolerated and will be found in termination of membership.
Liability: Every person who uses Venture X Services and comes on the Venture X premises is liable for his or her own belongings, actions, and materials, whether a physical product or computer-based software. Should any action cause damage to Venture X property, those persons will be held liable for the repair. If anything happens such as your computer gets hacked, blog goes down, Wi-Fi goes out, or if someone steals from you, Venture X is not legally responsible for these actions and occurrences. Venture X does not assume any liability or warranty in the event that any manufacturers’ warranty is void.
Guests: Any guest brought by a member must first sign in at the reception desk. All guests must remain with the member whom they came with. The inviting member will be responsible for all their guest’s actions.
24/7 access: At Venture X, we provide our members with 24/7 access, to come in and work whenever they need. The 24/7 access is a secured entry to allow members to come in before or after business hours to get work complete. 24/7 access is not used for other purposes such as sleeping, hosting parties or events, or any other purposes besides working.
Mailing: If you elect to receive mail and packages at one of our locations, please keep in mind that the pickup times are from 8:30 am – 5:00 pm Monday-Friday, unless you have 24/7 access to the space. Please note that depending on the package size, it can be stored in our private storage for pick up during normal pick up hours. We agree to hold your package for up to 3 business days after receipt at no charge, however after the 3rd day there will be a $ 5.00 per package per day continued storage fee. We are not obligated to store mail or packages for more than thirty (30) days for active members. Upon termination of your membership, any mail or packages received will be immediately returned to the sender or the post office.
Access card and Keys: Do not reveal your account password or transfer your keycard, access device, or credentials to anyone else (or allow them to use your account). Do not make any copies of any keys, keycards, or other means of entry to our premises (each, an “Access Device”). You are responsible for maintaining the confidentiality of your password and the security of your Access Device.
Access will be immediately suspended upon termination of your membership or agreement. All access cards and keys must be returned immediately upon move-out or termination. Lost, damaged, or unreturned access cards or keys will incur a $50 replacement fee per item.
Venture X Name: Venture X owns a license with rights to use its name, logo, slogan, and all other property relating to Venture X. The use of this name and property of Venture X without permission will result in legal actions taken by Venture X.
Other Members: We do not control and are not responsible for the actions of other members. If a dispute arises between members or their invitees or guests, we shall have no responsibility or obligation to participate, mediate or indemnify any party.
Holiday Closings: Regular business hours are Monday through Friday, 8:30 AM to 5:00 PM, excluding certain holidays. We may also close early on the day prior to a holiday. In either case, members will be notified in advance, including same-day notices when applicable.
Office Closure Due to Inclement Weather or City Events:
Venture X prioritizes the safety of our members and staff. In the event of severe weather conditions (including but not limited to hurricanes, snowstorms, ice, flooding, or other natural disasters) or city-wide events that result in road closures or otherwise restrict access to our building(s), Venture X reserves the right to close the affected location(s) without prior notice. These closures may occur at the discretion of local authorities, building management, or Venture X leadership, and are intended to ensure safety and compliance with any emergency protocols. During such closures, members will not be entitled to refunds, credits, or additional compensation for lost time or access.
24/7 key holders will continue to have access to the space during all holiday and early closures.
