1. Definitions
2. Appointment & Authority
3. Scope of Services
4. Commission, Fees & Taxes
5. Payment Terms
6. Dynamic Pricing & Promoåtions
7. Force Majeure & Pandemic
8. Owner Responsibilities
9. Maintenance, Repairs & Service Recovery
10. Refunds
11. Guest-Initiated Cancellations (Personal Reasons)
12. Exclusivity
13. Intellectual Property & Marketing Rights
14. Term & Termination
15. Non-Solicitation
16. Confidentiality, Data Protection & AML/CFT
17. Governing Law & Dispute Resolution
18. Miscellaneous

1. DEFINITIONS

1.1 Total Guest Paid
The sum of the Accommodation Fare and the Cleaning Fee, where:
Accommodation Fare = (nightly base rate × number of nights) minus any length-of-stay or other applicable discounts.

1.2 Cleaning Fee
A separate cleaning charge displayed to the guest at the time of booking. This fee is retained by the Property Manager to fund housekeeping, turnover logistics, and hospitality items such as welcome packs and essential restocking. It is excluded from Owner’s Revenue.

1.3 Host Channel Commission
(a) Any commission or service fee retained by third-party booking platforms (e.g., Airbnb, Booking.com, VRBO) at the rate set by the respective channel; and
(b) Thirteen percent (13%) of Total Guest Paid for bookings made via direct channels operated by the Property Manager (currently www.friday.mu or any successor domain).
This 13% includes standard payment processor charges (approximately 3% of the booking total) and is subject to applicable VAT.

1.4 Linen Deposit
The refundable deposit outlined in Clause 3.5, held by the Property Manager to support the procurement, upkeep, and replacement of hotel-grade linens under the centralised linen system.

1.5 Linen Fee
The fee described in Clause 3.4, currently fixed at €2.50 per guest per night (exclusive of VAT) and subject to annual adjustment based on the Consumer Price Index (CPI), converted to MUR in accordance with Clause 5.4.

1.6 Rental Income
Total Guest Paid minus:
(i) the Cleaning Fee; and
(ii) the Host Channel Commission.

1.7 PMC Commission
The percentage of Rental Income retained by the Property Manager, as specified in Clause 4.

1.8 Owner’s Revenue
Rental Income minus:
(i) the PMC Commission;
(ii) applicable VAT or Tax Deducted at Source (TDS) on the PMC Commission;
(iii) authorised Other Expenses (see Clause 9); and
(iv) any bank transfer or remittance charges not already included in the Host Channel Commission.

1.9 Weighted-Average Realised Rate
For each payout period, the total Mauritian Rupees (MUR) actually credited to the Property Manager’s accounts divided by the corresponding foreign-currency amounts received, net of payment-processor fees.

1.10 Base Price
The standard nightly rate for a given date, as set by the Property Manager, prior to the application of dynamic pricing algorithms.

1.11 Daily Price
The nightly rate generated by the Property Manager’s dynamic pricing engine for a specific date, prior to the application of any length-of-stay or promotional discounts.

1.12 Other Expenses
Any expense incurred by the Property Manager on behalf of the Property Owner in accordance with Clause 9, or otherwise authorised in writing by the Property Owner.

1.13 Service Recovery
Any complimentary service, amenity, maintenance, or goodwill gesture provided to a guest under Clause 9 in response to a service shortfall or disruption.

1.14 Urgent Situation
As defined in Clause 9.4.

1.15 Net Cancellation Proceeds
The actual amount remitted by the booking platform after deducting its applicable fees in the case of a Personal Cancellation (see Clause 11.2).

1.16 Working Capital
The portion of the Linen Deposit that may be allocated by the Property Manager to cover property-related expenses, as outlined in Clause 3.6.

2. APPOINTMENT & AUTHORITY

2.1 The Property Owner (“Owner”) hereby appoints Friday Retreats Ltd (“Property Manager” or “Manager”) to market, operate, and manage the property or properties listed in the Management Agreement (the “Properties”) for the duration of the Term. The Property Manager accepts this appointment.

2.2 The Property Manager’s authority is limited to the powers:
(a) expressly set out in these Terms & Conditions;
(b) granted under Clause 9;
(c) provided by the Owner via email, WhatsApp, SMS, or any other written electronic communication; or
(d) reasonably required to discharge the Manager’s duties under this Agreement.

1 Core Srvices

3. SCOPE OF SERVICES

3.1 Core Services

The following services are considered core and are covered by the PMC Commission:

• Online marketing of the Properties, including dynamic pricing strategies;
• Booking and payment management;
• Guest communication and support before, during, and after stays;
• Housekeeping oversight and coordination of check-in/check-out;
• Maintenance coordination (scheduling and supervision only — repair costs are charged separately as Other Expenses);
• Monthly financial reporting to the Owner.

3.2 Cleaning Services & Discretion

(a) A checkout clean is performed after each guest stay and is covered by the Cleaning Fee charged to the guest or, where applicable, to the Owner.
(b) Complimentary mid-stay or special cleans may be offered at the sole discretion of the Property Manager.
(c) Additional cleans requested by the Owner may be accepted or declined at the Manager’s discretion. If accepted, such cleans are either charged as Other Expenses or, at the Manager’s option, provided at no additional cost.
(d) The Owner may not compel additional cleans beyond the scope outlined above, unless otherwise agreed in writing.

3.3 Exterior-Care Packages

At the Owner’s request, the Property Manager may arrange a bundled monthly service (an “Exterior-Care Package”) covering pool maintenance, garden care, and exterior façade or balcony cleaning.

Pricing depends on the property’s size and scope and will be quoted in advance for the Owner’s written approval (minimum charge: MUR 4,000 per month).

Exterior-Care Packages are not included in the PMC Commission and will be billed separately as Other Expenses.

The Manager may adjust the package price with thirty (30) days’ written notice. Silence will be deemed acceptance; however, the Owner may discontinue the package during the notice period without penalty.

3.4 Linen Service

The Property Manager operates a compulsory linen service under which it supplies, launders, and/or replaces bed sheets, duvet covers, pillowcases, bath towels, and hand towels for each guest booking. A Linen Fee of €2.50 per guest per night (exclusive of VAT) applies to all reservations and is itemised on the Owner’s monthly statement. This fee may be adjusted once per calendar year in line with the Mauritius Consumer Price Index (CPI), with prior written notice.

3.5 Linen Deposit

The Manager shall take a refundable deposit equal to fifty per cent (50%) of the value of all linen items placed in the Property. This deposit may be collected upfront or, at the Manager’s discretion, deducted from future rental income. It is fully refundable upon termination, provided all linen is returned in acceptable condition and no outstanding deductions apply.

Standard deposit amounts by property size:

• 1-bedroom: Rs 20,000
• 2-bedroom: Rs 30,000
• 3-bedroom: Rs 40,000
• 4-bedroom: Rs 50,000
• 5+ bedrooms: As assessed individually

3.6 Working Capital Float

The Manager may allocate a portion of the Linen Deposit as a float to cover minor property-related operational needs — such as lockbox replacements or urgent guest-facing consumables. Any usage shall be reasonable, recorded and limited to maintaining operational continuity. All unused amounts are included in the final deposit reconciliation at the end of the Agreement.

3.7 Optional and Future Services

The Manager may introduce optional or value-added services, including but not limited to smart locks, enhanced maintenance packages, or concierge offerings. Any material change will be notified with thirty (30) days’ written notice. Silence constitutes acceptance; the Owner may terminate the Agreement during the notice period without penalty if they do not accept the change.

3.8 Subcontracting

The Property Manager may subcontract any part of the Services provided it remains liable to the Property Owner.

4. COMMISSION, FEES & TAXES

4.1 PMC Commission Tier

The percentage of Rental Income retained by the Manager is determined by the tier selected in the Management Agreement:

• Standard – 28%: Default tier for new clients with one or two properties or short-term commitments.
• Elite – 25%: For Owners with three or more managed properties, or properties valued above MUR 25 million, or who have collaborated with Friday Retreats for at least twelve (12) months while consistently maintaining and upgrading their properties.
• Prestige – 22%: Reserved for high-value clients owning premium properties valued above MUR 50 million and demonstrating significant positive impact on the Friday Retreats brand and revenue.

The PMC Commission percentage listed above is applied to Rental Income. The Property Owner’s Properties are classified under the Commission Tier.

4.2 Tier-Upgrade Triggers

An Owner may be upgraded to a higher commission tier by meeting either of the following conditions:
(a) Referring three (3) new property owners who each sign a Management Agreement; or
(b) Granting the Manager exclusive management rights for three (3) years via a separate addendum.

4.3 VAT & TDS

(a) VAT (15%) applies only to the PMC Commission, the 13% Host Channel Commission, and the Linen Fee.
(b) Tax Deducted at Source (TDS) – If and when the Mauritius Revenue Authority (MRA) designates PMC Commission as a TDS-withheld payment, the Manager will deduct the statutory 5% on each payout and remit it to the MRA, issuing a corresponding withholding certificate to the Owner each quarter.

4.4 Commission Adjustment

The Manager may revise the PMC Commission or Host Channel Commission with thirty (30) days’ written notice. The Owner may terminate this Agreement by written notice within that period; otherwise, the change shall be deemed accepted. No upward revision may occur more than once in any twelve (12)-month period.

4.5 Tax Catch-All

Any new tax, duty, or levy imposed on the Services after the Effective Date will be passed through to the Owner in the same manner as VAT. The Manager shall provide the Owner with at least thirty (30) days’ notice and supply supporting documentation upon request.

5. PAYMENT TERMS

5.1 Revenue Recognition

Rental Income is recognised on the guest’s checkout date, regardless of when platform funds are disbursed. Owners may not request early payouts for future checkouts.

5.2 Payout Cycle

Within seven (7) calendar days after month-end, the Manager shall issue a monthly Owner Statement and remit the Owner’s Revenue for all reservations with checkout dates falling in that month. The statement will reflect all deductions converting Rental Income to Owner’s Revenue, namely:
(a) PMC Commission;
(b) VAT/TDS on PMC Commission;
(c) Linen Fee plus VAT;
(d) Other Expenses authorised under Clause 9;
(e) Any deductions applied toward the Linen Deposit or Working Capital Float; and
(f) Any applicable payment processor fees.

5.3 Late Disbursements

If platform funds are not received by the scheduled payout date, disbursement may be deferred to the month in which funds are actually received. This will be noted on the relevant Owner Statement.

5.4 Currency & FX Conversion

Payments are made in Mauritian Rupees (MUR) via bank transfer. Foreign-currency booking amounts are converted using the Weighted-Average Realised Rate (as defined in Clause 1.9). Bank charges and currency conversion fees may be deducted from the Owner’s Revenue.

5.5 Finality

The final MUR amount credited to the Owner reflects the Weighted-Average Realised Rate under Clause 5.4. This payout is deemed final and accepted upon disbursement unless the Owner demonstrates manifest error.

6. Dynamic Pricing & Promotions

6.1 The Manager has sole discretion to set, modify, and apply dynamic nightly rates, minimum stay requirements, discounts, mark-ups, or surcharges at any time in order to maximise occupancy and revenue. The Daily Price shall never be set below fifty percent (50%) of the applicable Base Price. However, additional conditional discounts such as length-of-stay or last-minute promotions may be applied on top of the Daily Price.

6.2 Pricing decisions may be based on algorithmic tools, competitor analysis, seasonal demand, special events, or other relevant market data. The Owner shall not independently alter prices or instruct, force or pressure the Manager to do so.

7. FORCE MAJEURE & PANDEMIC

7.1 Definition

“Force Majeure” means any event beyond the reasonable control of the affected Party, including but not limited to: cyclone, flood, fire, epidemic, pandemic, government travel ban, war, terrorism, civil unrest, labour dispute, utility failure, or interruption of transport networks.

7.2 Suspension of Obligations

If a Force Majeure event prevents or materially hinders a Party from performing its obligations, that Party may suspend performance for the duration of the event without liability.

7.3 Booking Cancellations

Where Force Majeure affects guest stays:
(a) The Manager may cancel or relocate reservations without penalty.
(b) Refunds follow this hierarchy: guest → booking platform → Manager → Owner.
Any refund paid by the Manager that exceeds the amount recovered from the platform will be deducted from the Owner’s Revenue.

7.4 Notice & Mitigation

The affected Party shall promptly notify the other Party of the Force Majeure event and shall use reasonable endeavours to mitigate its effects.

8. OWNER RESPONSIBILITIES

8.1 Maintain compliance with all applicable licences, safety standards, and regulatory requirements.

8.2 Maintain and insure the structure, fixtures, and base furnishings of the Properties.

8.3 Soft Goods & Amenities Upkeep
The Owner shall, at the Owner’s cost, promptly supply and replace mattresses, protectors, consumables, and any other soft goods or amenities that the Manager reasonably deems necessary to maintain guest comfort and five-star review standards. Replacements shall follow the approval process outlined in Clause 9.

8.4 Utilities & External Service Providers
The Owner shall provide and maintain reliable utilities, including water, electricity, and internet, and ensure that any third-party service providers engaged by the Owner, such as pool technicians, gardeners, or façade cleaners, perform their duties in a manner that does not impair guest experience or the Manager’s service quality.
If, in the Manager’s reasonable opinion, a service provider’s failure to perform is likely to negatively impact guest satisfaction or the Friday Retreats brand, the Manager may engage an alternative contractor to rectify the issue. Associated costs shall be treated in accordance with Clause 9.

8.5 Owner or Owner-Guest Stays
When the Owner or their personal guests occupy a Property, they must ensure it is returned in a guest-ready condition that meets the Manager’s housekeeping standards.

(a) At least forty-eight (48) hours before check-out, the Owner must notify the Manager whether they:
(i) will clean the Property themselves to the required standard; or
(ii) request the Manager to arrange a professional clean, billed at MUR 1,500 for properties up to 120 m², or MUR 2,500 for larger properties.

(b) If no preference is communicated by the 48-hour mark, the Manager will arrange the professional clean by default and deduct the applicable fee from the Owner’s payout.

(c) If the Owner opts to clean but the Property does not meet the required standard upon inspection, the Manager will arrange the cleaning and charge the applicable fee as Other Expenses.

(d) For clarity, during any Owner or Owner-Guest stay the Manager charges no PMC Commission or Linen Fee. However, other applicable charges, including but not limited to requested services, coordination fees, or costs arising from damage, maintenance, or restocking, may still apply and will be billed accordingly.

8.6 Calendar Conflicts
The Owner may block available calendar dates for personal use or Owner-Guest stays, provided that no confirmed guest reservations exist for those dates. If a conflict arises, existing guest bookings take precedence, and the Manager’s confirmation shall be final.

9. MAINTENANCE, REPAIRS & SERVICE RECOVERY

9.1 Scope and Maintenance Coordination

Scheduling and oversight of all repairs, maintenance, service recovery, and guest-facing gestures are included in the PMC Commission. The labour or material cost of each repair or gesture is billed to the Owner as Other Expenses.

9.2 Routine Limit

The Property Manager may incur costs of up to MUR 2,500 or ten percent (10%) of the Total Guest Paid, whichever is greater, without prior Owner approval. Such amounts are treated as Other Expenses.

9.3 Owner Approval

Costs exceeding the limit defined in Clause 9.2 require the Owner’s written approval, unless an Urgent Situation (defined in Clause 9.4) applies. In such cases, the Property Manager may act immediately up to MUR 20,000. If the Owner does not respond within twenty-four (24) hours of the request, approval is deemed granted for the proposed amount.

9.4 Urgent-Situation Override

If an Urgent Situation arises and the Owner is unreachable or non-responsive, the Property Manager may act immediately up to an aggregate cap of MUR 20,000 per incident. Amounts above that cap always require explicit Owner approval.

“Urgent Situation” means any guest issue or complaint that, in the Manager’s reasonable judgment, requires immediate action to prevent or resolve:

• guest cancellation or early departure;
• platform disputes;
• the explicit threat or reasonable likelihood of a significantly negative review (less than 5 stars or 10/10);
• reputational harm such as algorithm downgrade or listing penalties;
• health, safety, or hygiene risks; or
• any circumstance where delay would likely cause financial or reputational damage.

9.5 Records & Transparency

The Property Manager shall keep itemised records of all costs incurred under this Clause and supply copies to the Owner upon request.

9.6 Payment & Reimbursement

All amounts incurred under this Clause are categorised as Other Expenses and are either:

• deducted from the next Owner payout; or
• invoiced separately with seven (7) days to pay

9.7 Guest Relocation Right

If the Owner refuses or fails to resolve a maintenance issue notified by the Property Manager, the Manager may, at its discretion, relocate the guest to protect guest interests and the Manager’s reputation. Whether or not relocation is attempted or successful, the Owner remains fully responsible for maintenance and for honouring the confirmed stay; the Owner may not unilaterally cancel or refuse the guest.

9.8 Large Works

Any repair or upgrade quoted above MUR 20,000 will be presented to the Owner for competitive tender or direct-contractor approval. The Property Manager may charge a coordination fee, agreed in advance.

10. REFUNDS

The Property Manager may, in its sole discretion, grant discounts, partial refunds, cancellation-fee waivers, or other price adjustments to resolve guest issues or disputes.

11. GUEST-INITIATED CANCELLATIONS (PERSONAL REASONS)

11.1 Personal Cancellation

A booking cancelled or shortened by the guest for reasons not qualifying as Force Majeure.

11.2 Net Cancellation Proceeds

The amount actually remitted by the booking platform after deducting its own fees for the cancelled booking.

11.3 50 / 50 Allocation

Net Cancellation Proceeds are split equally:

• fifty percent (50%) to the Owner (“Owner Cancellation Share”)
• fifty percent (50%) to the Manager (“Manager Cancellation Share”)

No PMC Commission is charged on either share.

11.4 Timing & Taxes

The Owner Cancellation Share is credited on the next monthly statement; the Manager Cancellation Share is retained or transferred to the Manager simultaneously. Each share is exclusive of any applicable VAT or TDS. The Manager will account for VAT on its share and withhold TDS on the Owner’s share if required by law.

12. EXCLUSIVITY

12.1 Exclusivity Types

The Parties agree to one of the following exclusivity modes, as selected in Section E (Exclusivity) of the signed Management Agreement:

(a) Full Exclusivity: During the Term, neither the Owner nor any third party may list, advertise, or offer the Properties for short-term rental, whether online or offline, except through the Manager. All paid guest stays must be processed by the Manager, and PMC Commission and Linen Fees apply. Personal and family use is permitted and remains exempt from these charges (see Clauses 8.5 and 12.4).

(b) Online-Only Exclusivity: The Owner may privately host guests (e.g., via word-of-mouth or referrals) but may not list or advertise the Property on any online platform (e.g., Airbnb, Booking.com, VRBO, Facebook Marketplace). The Manager is under no obligation to provide guest support, cleaning, or maintenance for such stays unless specifically requested and paid for. PMC Commission and Linen Fees do not apply to these stays.

12.2 For the avoidance of doubt, when Online-Only Exclusivity applies, the Owner may host private, paid guests provided that:

(a) the stay is not listed or advertised on any online platform; and
(b) the Manager is under no obligation to provide any support during such stays.

Any services the Owner requests during these stays, including but not limited to cleaning, troubleshooting, guest communication, or supplies, shall be billed at the Manager’s standard service rates. The Manager may also charge a coordination fee for additional logistics arising from these stays.

12.3 Existing owner-created listings shall be transferred to the Manager’s control or deactivated within seven (7) days. The Manager’s obligations commence only after the transfer is complete.

12.4 Personal & Family Use

The Owner may block available dates on the Manager’s calendar for personal stays or for use by family and friends on a non-commercial basis, provided those dates are not already reserved or in conflict with guest bookings. Such stays are exempt from PMC Commission and Linen Fee under Clause 8.5.

12.5 Unauthorised listings constitute a material breach of this Agreement.

13. INTELLECTUAL PROPERTY & MARKETING RIGHTS

13.1 All photographs, videos, virtual tours, copy, and other creative materials produced and paid for by the Manager (“Manager-Funded Assets”) remain its sole property. The Owner receives a revocable, royalty-free licence to use Manager-Funded Assets solely for marketing through the Manager during the Term.

13.2 Assets fully paid for by the Owner (“Owner-Funded Assets”) may be used perpetually by the Owner. Title passes to the Owner upon full payment.

13.3 Assets co-funded by both Parties remain the Manager’s property. The Owner receives a perpetual, non-exclusive licence for any lawful purpose upon full reimbursement of the Manager’s cost share.

13.4 Upon termination, the Owner shall cease use of all Manager-Funded or co-funded Assets within five (5) business days, unless a separate licence fee is agreed in writing.

13.5 Property Use for Marketing
The Owner authorises the Manager to feature the Property on its website, social media, and advertising. Guest and Owner privacy will be respected; no personal data or exact itineraries will be disclosed.

14. TERM & TERMINATION

The Initial Term, renewal provisions, and all termination rights are set out in the Management Agreement document executed together with these Terms & Conditions. If that document is silent, the default provisions of Mauritian law shall apply.

15. NON-SOLICITATION

The Owner shall not solicit or hire the Manager’s staff or contractors during the Term and for a period of twenty-four (24) months thereafter, nor cause any form of concurrence déloyale (unfair competition) during that period.

16. CONFIDENTIALITY, DATA PROTECTION & AML/CFT

16.1 Each Party shall keep confidential the terms of this Agreement and any proprietary information exchanged, except where disclosure is required by law.

16.2 The Parties will process guest data in compliance with the Mauritius Data Protection Act 2017 and, where applicable, the General Data Protection Regulation (GDPR). The Manager acts as Data Processor; the Owner acts as Data Controller.

16.3 AML/CFT Warranty
The Owner warrants that all funds used to acquire and operate the Property are not the proceeds of crime. The Manager may conduct Know Your Customer (KYC) checks and file Suspicious Transaction Reports (STRs) as required by law.

17. GOVERNING LAW & DISPUTE RESOLUTION

17.1 This Agreement is governed by the laws of Mauritius.

17.2 Any dispute shall first be submitted to mediation. Failing settlement, it shall be finally resolved by arbitration in Mauritius under the MCCI Arbitration & Mediation Center rules, before a single arbitrator, in English.

17.3 Small‑Claims Carve‑Out
Disputes involving an amount in controversy of less than MUR 250 000 (or such higher threshold as the Parties may agree in writing) may, at either Party’s election, be brought before the District Court of Mauritius instead of arbitration.

18. MISCELLANEOUS

18.1 Amendment
Except as expressly permitted in Clause 4.4, any amendment must be in writing and signed (including electronically) by both Parties.

18.2 Severability
If any provision is held invalid, the remainder remains in force.

18.3 Waiver
Failure to enforce any provision is not a waiver of future enforcement.

18.4 Entire Agreement
The Management Agreement and these Terms & Conditions constitute the entire agreement between the Parties and supersede all prior agreements, understandings, or communications, whether oral or written.

18.5 Assignment
The Manager may assign or novate this Agreement to an affiliate or bona-fide successor entity upon written notice; such consent shall not be unreasonably withheld. Any other assignment requires prior written Owner consent.

18.6 Liability Cap & Mutual Indemnity
Except for fraud or wilful misconduct, the Manager’s aggregate liability is capped at the total PMC Commission earned in the six-month period preceding the event. Each Party indemnifies the other against third-party claims arising from its own negligence, wilful misconduct or breach of this Agreement.

18.7 Digital Signatures
Electronic signatures executed via Eversign (or any comparable platform) constitute original signatures and are binding