It’s been nearly since 6 months we launched I/O Spaces. We have grown significantly since then both in services and members, workshops, and added a second conference room, As such, an update to this document has been long overdue.
Mostly the updates are linguistic, ensuring that the membership agreement is suitable for both legal and natural persons, and that our space and community is protected.
The one significant change in content is the reduction of the refundable retainer for new members formerly known as the “security deposit” in section 4 of the Membership agreement – which now more explicitly standardizes the cost of the retainer. The section in its revised version in part reads:
Licensee shall deposit with Licensor the sum of $100.00 as a refundable retainer to be held as security for the faithful performance by Lessee of all of its obligations under this License, including timely return of the access key and key fob. Nothing contained in this paragraph shall be construed to permit the Licensor to use the refundable retainer to replace any furniture, fixtures and/or equipment which are rendered unusable by reason of obsolescence, age, or other defect not related to the Licensees’ misuse and or/damage to same.
Please familiarize yourself with the full version:
The new terms will come into effect on Monday 14, 2015. By continuing to be an I/O Spaces Member after that, you agree to the revised Membership Agreement.