1. Term of Licence: The agreement starts on the date that the parties enter as the Start Date and continues until one of the parties tells the other in writing (giving 30 days notice) that it wishes to end the agreement. The party who is terminating does not need to give the reason why they wish to end the agreement.
2. Emergency Termination: In certain events each party has the right to end the agreement without giving 30 days written notice to the other. These events are upon a significant or fundamental or persistent breach of the Agreement by the party, provided that the other party has first been given the opportunity to correct the breach, and secondly where the other party goes into either voluntary or compulsory bankruptcy or liquidation (depending on if that party is an individual or a company).
3. Fee for Licence: The fee for the licence is expressed as a monthly amount and should be entered in the appropriate box at the top of the agreement and paid into a bank account as nominated by the Owner. The Owner may increase the monthly fee by giving 3 months prior written notice to the Licensee, provided that the increase is not more than 5% in any given 12 month period.
4. Hosting of Domain Name: The Owner is responsible for hosting the domain name, which allows the Owner to keep ownership of the Domain Name.
5. Restrictions on the Licensee: The Licensee is restricted from using the Domain Name to host a website that is a breach of someone’s intellectual property rights or is immoral, offensive, obscene or illegal.
6. No Liability of Owner: Occasionally the hosting of the Domain Name may suffer a break in service because of or through no fault of the Owner. However, the Owner shall not be liable to the Licensee for any loss except for a refund of the monthly Payment. E.g. the Owner will not be liable to the Licensee for loss of profits or business disruption costs.
The agreement should be signed by both parties and witnessed by someone who is over 18 and not related to them. The parties should also date the agreement at the top after they have finished signing and witnessing the agreement.