Initial membership commission will be honored to the source which provides the initial introduction to the client. In the event two sources introduce a client within a 30-day period the source which confirms the tour will be listed as the source of record.
Brokers are eligible to receive:
New Deals Initial Term up to 12 months (including Month to month):
- 10% of total contract value of months 1-12
New Deal Initial Term over 12 months:
- 10% of total contract value of months 1-12
- 2% of total contract value of months 13-24
Expansions:
- 10% of the total contract value of months 1-12
- 2% of the total contract value of months 13-24
Renewals:
- 2% of the total contract value of additional months agreed to up to 24 months
Expansion and renewal commission will be honored on the first expansion and/or renewal after the initial membership agreement and when the broker initiates and is actively involved in the renewal/expansion process. Expansions must happen within the first 12 months of the initial agreement start date in order to be commission eligible. Expansions and renewals without broker involvement in any timeframe are not eligible for commission. Brokers are not eligible for commission on auto renewed agreements.
The broker of record must submit an invoice for each membership closed with Serendipity Labs. The invoice must include the opportunity ID, company name, client name, Serendipity Lab location name and address, total contract value, and commission amount.
Commission amount will be paid within 30 days of receipt of the invoice contingent upon the client’s initial payment with Serendipity Labs has cleared. Commission for month-to-month agreements will be paid monthly in arrears after the submission of a valid invoice from the broker, corresponding and confirming another completed month of the signed agreement.
Invoices must be received to [email protected] within 90 days of client move in, with a valid W9 form or the commission amount is void.
