These Terms of Services for Trust Advisors ("Terms of Services ") shall serve as an agreement that sets forth the terms and conditions which will govern the use and participation of the Parties in the product called “Fee Protect” through transaction management, escrow facilitation services provided on and through NEO.RENT through Trustmore Technologies Private Limited. By selecting to utilize the Facilitation Services (as defined hereunder), the Parties have indicated their acceptance of these Terms of Services and their intent and agreement to be bound by them. If any Party is unwilling to agree to these Terms of Services, the Party shall immediately discontinue further use of the Facilitation Services. If any Party uses any Facilitation Service(s), it shall be bound by the Terms of Services as set forth below:
- For purpose of this Terms of Services:
- “NEORENT”, “NEO.RENT”, “ESCROWPAYINDIA”, “ESCROWPAYINDIA.COM”, “TRUSTMORE” “ESCROW AGENT” shall mean Trustmore Technologies Private Limited, a company registered and incorporated under the provision of Companies Act, 2013 having its registered office located at 210, Tower C, Pioneer Urban Square, Sector 62, Gurugram – 122098, Haryana. Email: firstname.lastname@example.org;
- “Business Day”shall mean a day, not being a non-working Saturday or a Sunday or a holiday notified under section 25 of the Negotiable Instruments Act, 1881, on which banks are open for business.
- “Business Hours” shall mean the hours between 10.00 a.m. and 6.00 p.m. on a Business Day.
- “Deposit”shall have the meaning as assigned to it in the said LA;
- “EscrowPay Trust Advisor” or “Broker” or “ETA” shall mean any individual, firm or Company registered on the Website, trained & certified by Trustmore to assist the Tenant and Landlord in completing their transaction.
- “Facilitation Services”shall have the meaning as assigned to it in Para 4 herein;
- “Landlord”shall have the meaning as assigned to it in the said LA;
- “Lease Property” shall mean the property to be leased to a Tenant and shall have the meaning as assigned to it in the said LA;
- “Losses” shall have the meaning as assigned to it in Para 6 herein;
- “Neorent Fees” shall have the meaning as assigned to it on the website and/or in the said LA;
- “Party” or “Parties” shall have the meaning as assigned to it in Para 1 herein;
- “said LA”, “LA”shall have the meaning as assigned to it in Para 1 herein;
- “Security Deposit”/ “Advance Rent”/ “Advance Maintenance Charges”/ “Rent”/ “Maintenance Charges” shall have the meaning as assigned to it in the said LA;
- “Tenant ”shall have the meaning as assigned to it in the said LA;
- “Website”shall mean https://neo.rent, https://escrowpayindia.com
The Facilitation Services for Parties shall be limited to
- Facilitation of documentation and payment services for the proposed lease of the property between the Landlord, the Tenant and the Broker by providing:
- Online KYC verification of Parties
- A standard, pre-filled template of a Lease Agreement
- E-Stamp papers in the name of Parties
- E-sign facility for Parties to electronically sign all documents
- Facility to Hold, Release or Refund advance/monthly Rent, advance/monthly Maintenance charges, refundable Security deposit, brokerage to broker(s), Escrow fees etc (“Deposit”) through a secure, neutral escrow account from Escrowpayindia.com
- A pre-filled template of Rent Receipt to Tenants
- A pre-filled template of Handover of premises by Landlords/Tenants
- A pre-filled template of Notice of Termination for Landlords/Tenants
- A facility to apply for Insurance policy(ies) for Users through registered General Insurance companies
- Any other service/document which Neorent will add from time to time.
- Obtaining photocopies / scanned copies of documents from the Landlord/ Tenant and/or Broker pertaining to the Property through its Website, and
The Facilitation Services for Trust Advisor shall be limited to
- Facilitation of the following products and services:
- Record of all transactions & documentation of deals,
- Training and support,
- Certificate of Registration as an ETA (at the discretion of Trustmore),
- Special pricing under “FEE PROTECT” on dashboard,
- Access to special promotional offers for products and services of Trustmore or its affiliates, associates or partners, as applicable.
- Facility to act as sub-agent/sub broker for products and services marketed by Trustmore as the partner/main agent of any Company, FI, Bank, NBFC etc.
- Other promotional items or discounts, as provided to all ETA’s
- Any other document or service Neorent may add from time to time.
- Secure brokerage through the Escrow Account
Other Terms of Services for ETA’s are as defined below:
- The ETA is a real estate agent/property dealer/property consultant / chartered accountant / wealth manager / advisor / consultant etc. of good reputation carrying out its business for profit. The ETA possesses all the licenses and registrations required to carry the said business, required under the laws applicable in the Territory/area of operations.
- The ETA has registered on the Website with all the necessary information required therein and has accepted the terms herein.
- By virtue of accepting these terms, the ETA hereto has agreed to be bound by the Company’s policy and confirms awareness of the Company’s business.
- OBLIGATIONS OF THE ETA:
- Upon the acceptance of the terms the ETA will be entitled to advertise, market and promote the Services to Tenants and Landlords approaching them for the Lease or Sale of Property or Goods or Services. The ETA hereby agrees not to use the trademark or trade name “EscrowPay” or “Trustmore” without the prior written approval of Trustmore and also, shall not use any Bank’s logo, trade name or trademark at any given time. The ETA shall propose to the Tenant, Landlord, Buyer and Seller to register on the Website and to avail the Services offered therein, subject to the Terms of Service set forth herein.
- The ETA shall employ or delegate at least one employee, who shall be trained for promoting and providing the services to its clients.
- The ETA shall facilitate the Tenant and Landlord or Buyer and Seller in accessing the services on the website. The ETA shall assist them in executing the said Agreement available on the website and sharing of the documents pertaining to the property on the website as mentioned in the Terms of Service.
- Upon the successful completion of the transaction or registration of the Sale Deed, the ETA shall communicate the same to Trustmore.
- The ETA shall render such other services/assistance as may be required by Trustmore, from time to time.
- OBLIGATION OF THE ESCROW AGENT
The Escrow agent shall subject to the requirements of the territory and Trustmore policy, conduct training campaigns in the territory to train the ETA about the services, to allow him/them to understand the services being offered on the website.
No similar competitive business engagement shall be accepted by ETA for his Territory without prior clearance and written approval of Trustmore.
- MUTUAL REPRESENTATIONS AND WARRANTIES:
All Parties makes the following representations and warranties to the other Party that:
- it has full power, capacity and authority to accept, execute, deliver and perform under the terms and it has taken all necessary action (corporate, statutory or otherwise), to execute, deliver, perform and authorize the execution, delivery and performance of the terms;
- these terms constitute a valid and binding agreement of such Party, enforceable in accordance with its terms;
- neither the acceptance of these terms, nor compliance thereof will be in conflict with or result in the breach of or constitute a default or require any consent under: a) any provision of any agreement or other instrument to which such Party is a party or by which it is bound; b) any judgment, injunction, order, decree or award which is binding upon such Party; and/ or such Party's memorandum or articles of association.
- the consents, permissions and/or licenses as may be necessary and if required for performing its obligations under the terms will be obtained; and
- the performance by any Party of its obligations under the terms will not violate or be in breach of any applicable law, code, rules / regulations, order of any court / tribunal / Authority or any agreement or any other instrument to which either of them is a party.
- The ETA hereby represents and warrants that he/it has read and understood the complete terms and conditions as published on the Website and shall keep him/it updated with the Website from time to time.
- TERM AND TERMINATION:
- The terms shall be in force for a period of 3 years from the Effective Date (“Term”), unless earlier terminated in accordance with the terms of this clause as stated below.
- ETA Registration can be terminated by either Party with thirty (30) days written notice. Notwithstanding anything contained herein, Trustmore shall be entitled to terminate the ETA without notice and with no obligation to pay outstanding dues in case the ETA breaches any material terms of this agreement.
- POST-TERMINATION OBLIGATIONS:
Post termination, the ETA shall provide to Trustmore such reasonable termination assistance as may be requested by Trustmore.
- ASSIGNMENT – The ETA shall have no right to assign the ETA registration or any right herein to any third party.
- MODIFICATION OF TERMS - No additions or modifications of the terms shall be effective or binding on either all Parties hereto unless agreed in writing and executed by the respective duly authorized representatives of each of the Parties.
- NO PARTNERSHIP - Nothing herein contained shall create or shall be deemed to create any relationship of agency, partnership or joint venture between the Parties.
- NOTICES - Notices as required shall be sent to the Parties at the addresses mentioned first herein above or such other addresses as the Parties may designate from time to time, and shall be sent by Speed Post along with email, on the following address / email id:
For the Company:
TRUSTMORE TECHNOLOGIES (P) LIMITED
210, Tower C, Pioneer Urban Square,
Golf Course Extension Road,
Sector 62, Gurgaon, 122012 Haryana
For the ETA:
As per the details filled in and provided
in the online sign up application
Email- As per the online sign up application
- GOVERNING LAW AND JURISDICTION - This ETA Registration shall be governed by and construed in accordance with the laws of the India and each of the parties hereto submits to the jurisdiction of India as regards any claim or matter arising under this ETA Registration. All Parties agree to submit to the jurisdiction of Civil courts of Gurugram, Haryana.
- Limits on the Facilitation Services - The Facilitation Services are only available for lawful real estate lease transactions and transactions not otherwise excluded or prohibited under any applicable law for the time being in force. Parties registered on the Website only can use the Facilitation Services.
- Prohibited Transactions – Parties shall not use or utilize the Website or the Facilitation Services in connection with any transaction that is illegal or involves any illegal items, or is for any unlawful purpose under any applicable laws. In addition, Neorent, in its sole discretion, may refuse to complete any transaction that Neorent has reason to believe is unauthorized or made by someone other than the Parties, may violate any law, rules or regulations, or if Neorent has reasonable cause not to honor it. Each Party agrees to indemnify and hold Neorent harmless from all suits, costs, claims, proceedings counterclaims, actions, losses, damages, liabilities, demands, expenses (including, without limitation, attorney’s fees and court costs) whatsoever (“Losses”) resulting from any use or attempted use of the Facilitation Services in violation of the Terms of Services.
- While accepting the Terms of Facilitation Services of Neorent each party also agrees to have gone through and accepted the Terms of Facilitation Services of Escrowpayindia available on https://escrowpayindia.com/terms_conditions and agrees to abide by them.
- Rejection of Payment - Since the use of a bank account, or the making of an electronic funds transfer may be limited by each Party’ agreement with their financial institution and/or by applicable law, Neorent shall not be liable to any Party if Neorent does not complete the Facilitation Services as a result of any such limit, or if a financial institution fails to honor any credit or debit to or from an Escrow Account.
- General Conditions of Use – Any Party arriving at the Website through entities linked and/or integrated with Neorent or otherwise by or through a third party (e.g., a search & discovery portal, exchange, or Internet-based intermediary that hosts electronic marketplaces and mediates transactions among businesses), authorizes such third party to transfer relevant data to Neorent to facilitate the transaction. The Parties represent and warrant that all information provided to Neorent or to such third party will be true, accurate and complete.
Obligations of Tenants - The Tenant must designate a payment mechanism and a bank account from which the consideration of the Security Deposit, Advance Rent, Advance Maintenance Charges, Rent, Maintenance charges and Escrow Fees (“Deposit”) will be remitted into the Escrow Account. Depending on the amount of the transaction as detailed in the said LA, Tenant may remit the necessary funds via various methods, which may include Real Time Gross Transfer (RTGS), National Electronic Fund Transfer (NEFT), Immediate Payment Service (IMPS), cheque, pay order / demand draft, credit/debit cards, wallets, UPI or wire transfer.
- Responsibilities of Neorent:
- Neorent shall not be liable for any error in judgment, for any act taken or not taken, or for any mistake of fact or law, except for gross negligence or willful misconduct.
- Neorent shall not be responsible or liable to conduct any due diligence of the Property/ Demised Premises or the past conduct of the Parties under the said LA. The Tenant shall be solely responsible to conduct the due diligence of the Property to his/her/its satisfaction before executing the said LA. The Landlord shall be solely responsible to conduct the due diligence of the Tenant/Broker(s) to his/her/it’s satisfaction before executing the said LA.
- Neorent may rely upon any notice, demand, request, letter, certificate, agreement or any other document which purports to have been transmitted or believed by it to have been signed by any of the authorized signatories of a concerned Party or signed by or on behalf of a Party indicated as the sender or signatory thereof as per the terms of the said LA and these Terms of Services. Neorent shall not be bound in any such case to call for further evidence, or to make any inquiry or investigation regarding its genuineness or be responsible for any losses or inconvenience that may be occasioned by its failure to do so.
- Statements, Verification-The Parties agree that all disclosures and communications regarding transaction in the said LA and the Facilitation Services shall be made by e-mail, SMS, WhatsApp or on the Website. All parties agree that by virtue of their registration on the website they have provided their irrevocable consent to receive transactional emails or SMS or notifications from Neorent or its affiliates, vendors etc. All parties further give their irrevocable consent to receive promotional emails, SMS, notifications etc. for information on new products, updates, present and future market practices of Neorent or any of its affiliates, partners, vendors sent by Neorent or its affiliates, vendors etc. This consent of all Parties shall override the restrictions or regulations of NDNC Registry, CANN SPAM or any other Govt. or statutory authority.
- Digital Identification-The Parties understand and agree that Escrow Agent will create, issue, and verify a digital identification (a "Digital ID") for each Party. This Digital ID is attached to each accepted electronic document and notification e-mails, SMS, WhatsApp messages. The Parties agree that their Digital ID is a valid electronic signature.
- Fees- Tenant/Landlord/Agent agrees to pay the Neorent Fees, Escrow Fees for the Facilitation Services, as well as any other applicable fees mentioned on the website. Once paid, Neorent’s fees are non-refundable, non adjustable and non-transferable. Neorent fees may change from time to time in Neorent's absolute and sole discretion. The Parties agree that they shall bear all interest, taxes, GST, all other duties and charges (including stamp duty in connection with this Terms of Services) and taxes (of any description whatsoever) as may be levied from time to time by the Government or other authority in respect of the said LA or in connection with the services being rendered to the Parties under these Terms of Services. In the event the Parties fail to pay the monies referred to above, Neorent shall be at liberty but not obligated, to pay and recover the same from the Parties including deducting from the amounts lying in the Escrow Account.
- Security-The Parties agree and acknowledge that the Facilitation Services may not be uninterrupted or error free or free from any virus or other malicious, destructive or corrupting code, program or macro. Neorent will adopt such technical and non-technical security measures that it considers are appropriate to render the Facilitation Services and will make all requisite efforts to provide uninterrupted services subject to downtime and regular maintenance. However, Neorent does not guarantee that such security measures cannot be subverted to gain unauthorized access.
Disclaimers–The Parties expressly agree that their use of the Facilitation Services is at their own sole risk. The Facilitation Services are provided on a strictly "as is" and "as available" basis. NEORENT MAKES NO WARRANTY WITH REGARD TO THE UNDERLYING TRANSACTION, ANY SERVICES OBTAINED BY PARTY THROUGH THE USE OF THE WEBSITE OR THE FACILITATION SERVICES, THAT THE SERVICES WILL MEET YOUR REQUIREMENTS, OR THAT THE SERVICES OR THE WEBSITE WILL BE UNINTERRUPTED, TIMELY, OR ERROR FREE.
Neorent expressly disclaims any and all express and implied warranties, including, but not limited to, the implied warranties of merchantability, fitness for a particular purpose and non-infringement. Neorent shall not be liable or responsible for those warranties and representations, if any, offered by any Landlord or Tenant or Broker. No advice or information, whether oral or written, obtained by any Party from Neorent or through the Facilitation Services shall create any warranty not expressly made herein.
- The Parties acknowledge and agree that Neorent does not endorse the website of any third party, or assume responsibility or liability for the accuracy of any material contained therein, or any infringement of third party intellectual property rights arising there from, or any fraud or other crime facilitated thereby. In no event, will Neorent be liable for any act or omission of any third party, including, but not limited to, your financial institution, any payment system, any third party service provider, any provider of telecommunications services, internet access or computer equipment or software, any mail or delivery service or any payment or for any circumstances beyond Neorent's control (including but not limited to, fire, flood, epidemics, pandemics or other natural disaster, acts of god, war, riot, strike, terrorism, lockdowns, act of civil or military authority, equipment failure, computer virus, infiltration or hacking by a third party, or failure or interruption of electrical, telecommunications or other utility services).
- In pursuance whereof the Parties agree that by executing the said LA, transferring money in the Escrow Account and / or availing the Facilitation Services, the Parties are deemed to have agreed to these Terms of Services and are deemed to have represented and warranted that:
- The Parties have the necessary consents, licenses, approvals (including from Government Authorities) and necessary power, authority and the legal right to agree to these terms and have taken all necessary actions required for the validity, enforceability and performance of their respective obligations and duties in terms hereof;
- These Terms of Services constitute the legal, valid and binding obligations of the Parties, enforceable against the Parties in accordance with applicable law;
- The entry into and performance by the Parties of its obligations /duties under these Terms of Services and any other document related hereto does not and will not violate, in any respect:
- any law, regulation, judgment, decree or order of any legislative, executive, judicial, quasi – judicial or regulatory authority (hereinafter referred to as “Government Authority”) having jurisdiction or control over the Parties;
- The organizational documents of the Parties; or
- Any document, contract or other undertaking to which any of the Parties is a party or which is binding on the either of them or any of its assets;
- By availing the Facilitation Services, each of the Parties are deemed to have agreed, represented and warranted that:
The role of Neorent shall be limited to such functions as expressly laid out herein or as indicated by Neorent specifically to the Parties or by the Parties to Neorent in accordance with the terms hereof;
- Neorent, the Escrow Agent, Trustee Company and the respective Account Bank shall not be liable for any claims made by or arising against any of the Parties and/or any third parties, in relation to any duties, actions or obligations performed and / or rights or powers exercised by Neorent, Escrow Agent and/or the Trustee Company and/or the respective Account Bank. The Parties also irrevocably consent and agree that Neorent, Escrow Agent, Trustee Company, Account Bank shall not be liable to them for any Losses that any of them may suffer or incur either directly or indirectly as a result of the transactions contemplated herein and/or under the said LA;
- The Parties will not in any manner, by themselves or by any agent or representative or consultants appointed by them, voluntarily or involuntarily, portray or represent Neorent, the Escrow Agent, the Trustee Company and/or the respective Account Bank as a party to the said LA or any such document entered into or understood to have entered into between the Parties; and
- Neorent and the Escrow Agent can conduct business with the respective Account Bank in the normal course of the respective Account Bank’s business. The said Account Bank is under no obligation to disclose any details of such transactions to any of the Parties whatsoever.
- Each of the Parties shall, at any time and from time to time upon the request of the other Parties and / or Neorent, promptly and duly, do or permit to be done all such acts and deeds to execute and deliver or permit the execution and delivery of any and all such instruments and documents as the other Parties and / or Neorent, as the case may be, may consider necessary for the purpose of the Parties obtaining the full benefit of these Terms of Services.
- Neorent shall, if by the terms hereof be required to perform any act / take any action on or within a period ending on a day which is not a day (other than Sunday or a public holiday), on which Neorent is open for business in the place where the Neorent account is held (“Business Day”) then such action will be performed / taken by Neorent on the immediate succeeding Business Day.
- Notwithstanding anything contrary contained herein, Neorent may refrain from taking any action which in its opinion, would or might contravene any law in any relevant jurisdiction, and do all such acts and deeds, things in its opinion to comply with all applicable law. Neorent and the Escrow Agent shall not be obliged to request or make any transfer from the Escrow Account if so directed by any Government Authority.
- The Parties will at all times maintain confidentiality regarding the contents of these Terms of Services and they shall not make any announcement to the public or to any third party regarding the arrangements contemplated herein without the prior written consent of Neorent. Neorent shall be free to disclose the contents of these Terms of Services and all information in relation to the Parties to its affiliates and subsidiaries and for the promotion of its business and if required with any Government Authority.
- All the notices and other communications required under these Terms of Services shall be in writing and:
- if delivered personally or by courier or if sent by registered mail, be deemed given upon delivery at their respective address provided for this purpose in the said LA submitted by the Parties to Neorent or if to Neorent at the address provided for delivery of notices in Para 2a above; and
- if sent by facsimile transmission or e-mail, be deemed given on receipt of a confirmation but when sent to the facsmile number as provided against the Party in the said LA (marked to the attention of the person named therein) or if to Neorent to the facsimile number or e-mail as provided in Para 2a above (marked to the attention of the person named therein).
- Any Party may from time to time, change its address for the purpose of notices to that Party by giving a notice to Neorent and the other Parties specifying a new address, but no such notice will be deemed to have been given until it is actually received by the other Parties and Neorent.
- The Parties shall jointly and severally from time to time, on demand by Neorent, indemnify Neorent and keep Neorent and its employees, officers, directors, agents, representatives etc. indemnified and saved harmless against any and all Losses which Neorent may suffer / incur:
- in acting in its capacity as a facilitator hereunder, including any claims for any taxes, payable by any of the Parties, which are made on Neorent and / or any costs or expenses charged to it by any persons engaged by it in connection with the transactions herein;
- as a consequence of Neorent relying upon any certificate, notice, demand, direction or communication, by whatever named called, signed by, or with the authority of a Party;
- as a consequence of any breach, fraud or misrepresentation by any Party.
- The indemnities contained in this clause shall survive the termination of the arrangement with Neorent.
- The obligations of Neorent contained herein will be subject to any occurrence resulting in prevention from or delay or interruption in performing its obligations if such prevention, delay or interruption is due to any event beyond the reasonable control of Neorent, including, without limitation, unavailability of any communication system, internet network issue, malware, virus attack, sabotage, fire, flood, explosion, acts of god, epidemics, pandemics, lockdowns, civil commotion, strikes or industrial action of any kind, riots, insurrection, war or acts of government, changes in legislation, laws and/or Acts, order, notification, circular of any Government Authority, department, judgment, order, ruling etc., of any Court, tribunal, board, judicial authority etc., and other allied acts of regulatory nature then Neorent shall not be deemed to be in default. Neorent shall not be liable for any action or claim or Losses, from any party, arising out of its inability to perform the obligations for the reasons stated herein.
- These Terms of Service shall, subject to the rights of Neorent to resign, remain in full force and effect until the said LA is cancelled / terminated in terms of the said LA.
- Neorent may suspend or terminate the Parties right to use the Facilitation Services at any time, without any notice for any reason in Neorent’s sole discretion. Except as warranted by risk to the security, privacy or integrity of the Facilitation Services, Neorent will attempt to provide you with prior notice of the suspension or termination of the Facilitation Services by sending the Parties an e-mail, but Neorent is not obligated to do so. Each Party shall remain liable for all transactions initiated by it through the Website or by using Facilitation Services.
- These Terms of Services and the transactions contemplated herein shall be binding upon and inure to the benefit of each Party hereto and Neorent and their successors and assigns. The Terms of Services shall not confer upon any person other than the Parties hereto and Neorent, the benefit of any rights or remedies hereunder.
- The Parties shall not assign or transfer all or any of its rights, benefits and obligations hereunder, without prior written consent of Neorent. Neorent may, at any time, assign or transfer all or any of its rights, benefits and obligations hereunder to any other financial institution / bank / investment institution or any other person without any consent or approval whatsoever being required to be obtained from any of the Parties.
- In case there is any inconsistency between these Terms of Services and any other mandate, writings, letters and documents, the provisions of these Terms of Services shall prevail.
- If any provision of these Terms of Services is held to be illegal, invalid, or unenforceable under any present or future law such provision will be severable and these Terms of Services will be construed and enforced as if such illegal, invalid, or unenforceable provision had never comprised a part hereof and the remaining provisions of these Terms of Services shall remain in full force and effect and will not be affected by the illegal, invalid or unenforceable provision or its severance here from.
- Modification: Neorent reserves the right to change these Terms of Services, or any portion thereof, at any time, without prior notice. Each time a Party log in on the Website or request for any Facilitation Service the same will constitute such Party’s Agreement to the Terms of Services, as amended from time to time in Neorent’s sole discretion, and evidence that you have read, understood and accepted the then applicable Terms of Service.
- These Terms of Services, the transactions contemplated herein and the rights and obligations of the Parties and Neorent are governed by, and shall be construed in accordance with the laws of India.
- The Parties irrevocably agree that any legal action or proceedings arising out of these Terms of Services and in relation to the transactions contemplated herein and the rights and obligations of the Parties and Neorent, shall be conducted in the Courts at Gurugram and irrevocably submit themselves to the jurisdiction of that court.
- Any and all claims, disputes, questions or controversies involving the Parties and arising out of or in connection with or relating to these Terms of Service, or interpretation, validity, performance, breach or termination hereof shall be resolved by arbitration in accordance with the provisions of Arbitration and Conciliation Act, 1996 and the rules made there under or any amendments made thereof. For the purpose of such arbitration, the dispute shall be referred to a sole arbitrator to be suggested by the Parties and approved/appointed by Neorent. The arbitration proceedings shall be conducted in English language and conducted at the place which has territorial legal jurisdiction over the Demised Premises. The arbitral award shall be final and binding on the Parties.