Jiangmen Yiguifu Sales Centre and Sample Units Property Services Agreement Sample Clauses

Jiangmen Yiguifu Sales Centre and Sample Units Property Services Agreement. A summary of the salient terms of the Jiangmen Yiguifu Sales Centre and Sample Units Property Services Agreement is as follows:- Yuehai Property Management The relevant labour costs shall be calculated according to the actual labour costs incurred in the relevant month, and the relevant third party subcontractor fees shall be calculated based on estimated labour costs. The relevant property management service fees shall be charged at RMB31,805.28 per month and may be deducted by 5%-10% depending on the service satisfaction rating rated by GDL Jiangmen. A lump sum service fee including one-off costs for supplies and cleaning costs shall be payable by GDL Jiangmen to Yuehai Property Management within one month of the date of the agreement. Pursuant to the Jiangmen Yiguifu Sales Centre and Sample Units Property Services Agreement, the estimated service fees payable by the Group and the annual caps for the years of 2020 and 2021 are as follows: 2020 (RMB) 2021 (RMB) Estimated service fees payable 870,982 4,027,031 Annual Cap 1,000,000 (equivalent to approximately HK$1,188,495) 5,000,000 (equivalent to approximately HK$5,942,477) The rates of the service fees are determined after arm’s length negotiation between the relevant parties, after considering: (i) the area of the relevant premises; (ii) the number of staff as required by the services under the Jiangmen Yiguifu Sales Centre and Sample Units Property Services Agreement (excluding outsourced cleaning and greening staff); (iii) labour costs including salary, overtime charges, benefits, union fees, etc.; (iv) other staff costs, outsourcing services fees, a lump sum supplies fee, opening fees and fixed remuneration fees; and (v) the prevailing market rates for similar services. The annual caps have been set based on the total service fees expected to be paid by GDL Jiangmen under the Jiangmen Yiguifu Sales Centre and Sample Units Property Services Agreement. The total service fees expected to be paid by GDL Jiangmen for the period from 15 November 2020 to 31 December 2020 are relatively high due to the expected one-off costs for supplies and one-off cleaning expenses for the opening of the relevant sales centre as mentioned in the paragraph headed “Service fees” above.
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