Common use of Retained Searches Clause in Contracts

Retained Searches. 6.1 Placement Fees for Retained Searches only shall be calculated on the basis of the Salary Package and invoiced to the Client in three stages: a. thirty three percent (33%) of the Placement Fee on ▇▇▇▇▇▇▇ BUSINESS SERVICES LTD’s agreement to undertake the Business (based on an estimate of the Salary Package); b. thirty three percent (33%) of the Placement Fee when the short-list of Candidates is presented to the Client by ▇▇▇▇▇▇▇ BUSINESS SERVICES LTD or thirty (30) days after ▇▇▇▇▇▇▇ BUSINESS SERVICES LTD’s agreement to undertake the Business whichever is the sooner (based on an estimate of the Salary Package); and c. the balance (if applicable, adjusted for any variance between the estimated and final Salary Package) on the first day of the Client’s employment of the Candidate. 6.2 Placement Fees for Retained Searches are non-refundable. If the Client withdraws the Placement before the Candidate commences, all three stages of fees specified in clause 6.1 will become payable immediately.