1. Dubai Multi Commodities Centre (DMCC) shall offer a discounted package, subject to these terms and conditions, to an individual or company that submits an application to DMCC to set up a flexi desk at the DMCC Business Centre (Applicant) located at the Jewellery and Gemplex Towers in the DMCC free zone (the Offer).
2. The fee for the Offer shall be a one-time discounted fee of AED 33,570 payable to DMCC by the Applicant (the Offer Fee), pursuant to the process as more particularly described at clause 3 in order to complete the application for the Offer (Application).
3. The process of completing the Application includes:
(a) submission of online initial application (Initial Application), payment of application fee of AED 1,015 and signature of these Terms and Conditions (First Stage);
(b) payment of the remaining balance of the Offer Fee (AED 32,555), execution of the Memorandum of Association and Articles of Association and any other documentation required by DMCC (Second Stage);
(c) execution of the flexi desk agreement (the Agreement) and provision of all necessary documentation in respect of an Application (Third Stage); and
(d) issuance by DMCC of the DMCC license and all documentation in respect of an Application, (The Process).
4. The First Stage and the Third Stage are subject to DMCC’s approval which will be given in DMCC’s sole discretion.
5. The Second Stage must be completed within a period of 90 days of completion of the First Stage and the Third Stage must be completed within 90 days of completion of the Second Stage (each a Validity Period).
6. Failure to complete all relevant procedures, registration and licensing requirements, and any other formalities that DMCC may require during a Validity Period will result in the Offer being withdrawn. If the Offer is withdrawn the Applicant shall pay the fees applicable at that time to proceed with the Application.
7. Upon completion of the Process, the Applicant will receive one DMCC license, which will be valid for a period of one year from the date of issuance by DMCC (the Term).
8. The Offer Fee shall include the following:
(a) the application fee;
(b) the registration fee;
(c) the license fee;
(d) fees for Memorandum of Association and Articles of Association;
(e) fees for any establishment cards;
(f) the Agreement administrative fee; and
(g) the Agreement fee.
9. The Offer Fee excludes:
(a) a security deposit of AED 1,000 in respect of the Agreement; and
(b) any additional charges relating to:
i. residency visas; and
ii. any additional services which the Applicant may incur as a result of making an Application.
10. The Offer shall be offered to any Applicant which:
(a) has not previously submitted an inquiry or an Initial Application;
(b) attends DMCC’s exhibition stand at the Event;
(c) expresses an interest in making an Application during the Event.
(d) completes the First Stage between the 26th of February and 3rd April 2017; and
(e) satisfies DMCC’s eligibility criteria, in force from time to time, for the establishment of a DMCC company.
11. The Offer Fee is non-refundable and non-transferable, under any circumstances.
12. The Offer is subject to availability, non-exchangeable, non-transferable and non-negotiable, under any circumstances.
13. During the Term, if the Applicant wishes to move from a flexi desk to a serviced office or permanent office in the DMCC free zone, the Applicant must make an application to DMCC to amend the terms of the Agreement. The Applicant acknowledges and agrees that the Offer Fee shall not be refunded and the Applicant shall pay any fees required by DMCC in order for the Applicant to enter into a new agreement in respect of such move.
14. At the end of the Term, the Agreement may be renewed on terms and conditions to be determined in DMCC’s sole discretion.
15. The Applicant may not transfer or assign any of its rights or obligations under the Agreement to any other company unless otherwise agreed by DMCC, in writing and in advance.
16. This Offer is not available to:
(a) existing DMCC companies who wish to renew their DMCC license;
(b) existing DMCC companies who wish to alter their DMCC license; or
(c) existing DMCC companies who wish to move to a flexi desk at the DMCC Business Centre.
17. All Applications are subject to DMCC management review and approval. DMCC shall have absolute discretion in its approval of any Applicants and Applications.
18. DMCC, in its sole discretion, reserves the right to hold void, restrict, cancel, suspend, review or amend the Offer where it becomes necessary to do so.
19. These Terms and Conditions are governed by the laws of the Emirate of Dubai as such laws apply in the United Arab Emirates and the Applicants agree that any dispute arising out of or in relation to these terms and conditions will be subject to the exclusive jurisdiction of the Dubai courts.
By signing these Terms and Conditions you agree to be bound by these Terms and Conditions.
Signature:
Name:
Date: