Third Team Ventures

Terms and Conditions

Last updated: 11/22/2025

1. Agreement to Terms

These Terms and Conditions constitute a legally binding agreement made between you, whether personally or on behalf of an entity ("you" or "Customer") and Third Team Ventures ("we," "us," or "our"), concerning your access to and use of our website and services.

2. Engagement and Fees

  • Minimum Engagement: Product packages require a minimum engagement of 6 months.
  • Setup Fees: A separate one-time setup fee applies for each package where applicable.
  • Pre-payment: Engagements of less than 6 months require 100% pre-payment.
  • Commencement: Setup fees, first month, and last month advance payment are required to commence engagement. Work will commence once the first invoice is paid.
  • Exclusions: Rates do not include transaction fees, bank charges, and applicable taxes.
  • Additional Services: Services beyond the agreed monthly deliverables are subject to separate rates agreed upon by both parties before rendering the service.

3. Payment Terms

Payments are due within 15 days of billing. Late payments will be charged a 1.5% compounded monthly late fee. Should a payment be late, Third Team Ventures reserves the right to freeze all work until accounts are settled. The Customer is encouraged to choose a payment mode best suited for the project.

4. Intellectual Property Rights

Finished Products: We will provide Finished Product(s) to the Customer in the form of asset files. These files become the exclusive property of the Customer upon acceptance of delivery.

Underlying Technology: The Finished Product(s) are partially based on a non-exclusive code base created and maintained by Third Team Ventures. Such code and other underlying technologies do NOT become the property of the Customer, only the Finished Product(s).

Third-Party Assets: The Finished Product(s) may depend on code, objects (COMs), and other third-party utilities that are the property of their respective owners. No rights to these dependencies are expressed or implied. Additional licensing may be required with third-party assets.

5. Project Management and Communication

  • Point of Contact: One point of contact will be required on the Customer’s end for clarifying requirements, approvals, and maintenance issues. We require this person to be available to answer questions within 24 hours on workdays (subject to reasonable exceptions) and to have authority to make decisions.
  • Our Availability: Third Team Ventures works exclusively with internal staff and Independent Contractors. We are not set up to support on-call services. We will make every effort to reply to inquiries within 48 hours, except where the Customer has been previously notified of limited availability.
  • Subcontracting: We retain the right to subcontract any portion of the Contract.

6. Non-Solicitation

If within one year of termination of this agreement the Customer hires or contracts with any employee or Independent Contractor of Third Team Ventures, the Customer agrees to pay a finder’s fee of 50% of the annual salary or contract fees offered to the contractor or employee. Payment will be rendered within 30 days of hiring.

7. Dependencies and Responsibilities

  • Third Parties: If any aspect of this Contract is dependent on a separate third party or the Customer’s in-house team, we are not responsible for any delay or defect caused by said party’s ability to meet timelines or quality standards.
  • Hosting: We do not provide Hosting services beyond temporary internal development environments. The Customer is responsible for choosing, paying for, and maintaining any required Hosting solutions. We are not responsible for downtime, poor performance, or loss of data caused by the Hosting Provider.
  • Security: Although we make every effort to provide secure channels, we cannot guarantee that channels will not be subject to security breaches. The Customer is solely responsible for tracking channel security updates and maintaining strong passwords.
  • Customer Content: The Customer alone shall be responsible for the accuracy and adequacy of information and data furnished for processing, and for obtaining required licenses for any third-party assets provided.

8. Warranty and Support

Grace Period: We will provide patches and bug fixes for any bugs included in the scope of this contract reported within a grace period of no more than 30 days following the date of project completion sign-off. All bug fixes outside of scope or after the grace period are the responsibility of the Customer.

Exclusions: Hourly projects, Design, and the placement/editing of editorial content are NOT subject to warranty. Should further support be necessary, a support contract may be negotiated.

9. Limitation of Liability

The Customer agrees that any liability of Third Team Ventures relating to this agreement shall be limited to the amount of fees actually received by us from the Customer regarding the packages in question. In no event shall we be liable for any special, incidental, indirect, consequential, or punitive damages, or any lost sales, profits, or data.

10. Portfolio Rights

Third Team Ventures retains the right to use the Customer within its roster of clients. A link to the Customer website/application will be placed on our website as part of our business portfolio.

11. Term and Termination

This Contract is valid for the calendar year in which it was signed, upon which point it expires. Upon expiration, both parties may review and amend the Contract. This Contract may be terminated by either party with a full 30-day written notice. All payments will be due and all work will be submitted upon termination.

12. Governing Law

These Terms shall be governed by and defined following the laws of the Philippines and applicable US laws. Both parties consent to the exclusive jurisdiction of the courts of the Philippines.

13. Contact Us

For any questions regarding these terms, please contact us at: sales@thirdteam.org