PLEASE READ THESE SERVICE PROVIDER PAYMENT TERMS CAREFULLY

This Service Provider Payment Agreement is a legal agreement between each service provider and “www.warrates.com” for license to use:

• www.warrates.com website (“WarRates”) and any updates or supplements to it ("Plaform");
• The services each service provider connects to via the Platform and the content WarRates provides to each service provider through it {in particular, information relating to inquiries submitted on the Platform by members (“Get A Quote” side) in relation to the contracts which seeking parties intend to enter into with service providers (members of “ View Inquiries” side) for purchase of such services},

as permitted in the terms of this Service Provider Payment Agreement.

1 Background

1.1 WarRates provides the Platform and Services to service provider(s) (our “View Inquiries” Side), on the terms of this Service Provider Payment Agreement.
1.2 The service provider(s) intends to contract with the seeking party (our “Get A quote” side) which has submitted an Inquiry on the Platform for purpose of purchasing certain services.
1.3 The "Award" of a contract under this Service Provider Payment Agreement is defined as the issue of a purchase order or such other commercial or legal document by the member of our “Get A quote” side for the purchase services from service provider and acceptance by service provider, forming a legally binding contract between a member from our “Get A Quote” side and a member from our “View Inquiries” Side ("Contract").

2 Success Fee

2.1 In consideration of service provider(s) agreeing to abide by the terms of this Service Provider Payment Agreement, WarRates hereby provides service provider(s) the Platform and Services, on the terms of this Service Provider Payment Agreement.
2.2 In the event of the Award of the Contract to the relevant service provider ("Winning Service Provider"), the Winning Service Provider shall pay WarRates a success fee based on the total value of the Contract (excluding taxes) in the following manner ("Success Fee"):
In the case that the party offering coverage is successful in concluding the deal with the seeking party, WarRates will charge 3% of the overall premium,
2.3 WarRate's determination of such usage of the Platform, Services and the Success Fee shall, in the absence of manifest error, be final.  

3 Payment of Success Fee

3.1 Upon the Award of the Contract by the seeking party from our “Get A Quote” side to the Winning Service Provider, the amount of Success Fee payable shall be paid by the Winning Service Provider.
3.2 If the Winning Service Provider has yet to pay the Success Fee in full, the Winning Service Provider will not be able to participate in other inquiries.
3.3 WarRates shall issue an electronic invoice for the full payment of the unpaid Success Fee. The Winning Service Provider shall pay WarRates the Success Fee within 30 days of the date of the relevant electronic invoice.

4 Variation

4.1 WarRates shall have the right in its absolute discretion at any time and without notice to amend, remove or vary the terms of this Service Provider Payment Agreement.
4.2 From time to time, WarRates may:
        (a) modify the Platform or Services by issuing updates; and
        (b) make new features, functionality, applications or tools available in respect of the Platform or Services.

5 Waiver

A waiver of any right or remedy is only effective if given in writing and shall not be deemed a waiver of any subsequent breach or default. A delay or failure to exercise, or the single or partial exercise of, any right or remedy shall not:
        (a) waive that or any other right or remedy; or
        (b) prevent or restrict the further exercise of that or any other right or remedy.

6. Refund/Cancellation Policy:

Fees once paid will not be refunded under any circumstances.

7. Limitation of liability:

WarRates does not accept liability for any damage, loss, cost (including legal costs), expenses, indirect losses or consequential damage of any kind which may be suffered or incurred by the User from the use of this service.

8. No Warranty:

No warranty, representation or guarantee, express or implied, is given by the WarRates in respect of the operation of the service.