Terms & Conditions

1. Definitions

In these Terms and Conditions, the following terms have the meanings set forth below:

• "Velkro," "we," "us," or "our" refers to Velkro, a business consulting practice based in Hong Kong
• "Client" or "you" refers to any individual or organization that engages our consulting services or uses our website
• "Services" refers to all consulting engagements, advisory services, and related deliverables provided by Velkro
• "Agreement" refers to these Terms and Conditions together with any engagement letter or statement of work
• "Website" refers to velkrol.info and all associated pages and functionality
• "Deliverables" refers to written reports, presentations, frameworks, and other work products produced during an engagement

2. Acceptance of Terms

By accessing our website, submitting an inquiry, or engaging our consulting services, you agree to be bound by these Terms and Conditions. If you do not agree with any part of these terms, you should not use our website or services.

You represent that you are at least eighteen years of age and have the legal capacity to enter into this agreement. If you are engaging our services on behalf of an organization, you represent that you have the authority to bind that organization to these terms.

These Terms and Conditions supplement, but do not replace, any engagement letter or statement of work that may be executed for specific consulting engagements. In the event of conflict, the terms of the engagement letter shall prevail for that specific engagement.

3. Service Description

Velkro provides business consulting services to mid-size organizations, including but not limited to:

• Strategic planning and organizational assessment
• Operational efficiency review and process improvement
• Leadership development and governance advisory
• Related consulting services as agreed in specific engagement letters

The specific scope, deliverables, timeline, and fees for each engagement are documented in a separate engagement letter signed by both parties. Services are subject to availability and our acceptance of the engagement.

4. Engagement Process

Consulting engagements typically follow this process:

1. Initial consultation to understand your needs and assess fit
2. Preparation and execution of an engagement letter outlining scope, timeline, deliverables, and fees
3. Delivery of services in accordance with the agreed methodology
4. Presentation of findings and deliverables to designated stakeholders
5. Post-engagement support as specified in the engagement letter

We reserve the right to decline any engagement or terminate our services in accordance with the termination provisions outlined in Section 11 of these terms.

5. Client Responsibilities

To enable effective delivery of our services, clients agree to:

• Provide timely access to relevant stakeholders, documents, and information
• Respond promptly to requests for feedback and clarification
• Designate an internal point of contact for engagement coordination
• Make reasonable efforts to accommodate scheduled interviews and working sessions
• Provide accurate and complete information to the best of their knowledge
• Maintain confidentiality of our proprietary methodologies and work product
• Comply with payment terms outlined in the engagement letter

6. Intellectual Property

Velkro Property: All methodologies, frameworks, templates, and tools used in delivering our services remain the intellectual property of Velkro. Clients receive a limited, non-exclusive license to use deliverables for their internal business purposes only.

Client Property: All pre-existing materials, data, and information provided by the client remain the client's property. We do not claim ownership of client information used during the engagement.

Deliverables: Upon full payment of engagement fees, clients receive ownership of the final deliverables produced specifically for their engagement (reports, presentations, strategic briefs). However, the underlying methodologies and any reusable components remain Velkro property.

Neither party may use the other's name, logo, or trademarks without prior written consent. Case studies or references require explicit written permission from the client.

7. Payment Terms

Consulting fees are specified in the engagement letter and are based on the scope and estimated duration of the engagement. Unless otherwise agreed:

• Fifty percent of the engagement fee is due upon signing the engagement letter
• The remaining balance is due upon delivery of final deliverables
• Payment is accepted via bank transfer or check
• Invoices are payable within thirty days of issuance
• Late payments may incur interest charges at the rate of 1.5% per month

All fees are quoted in Hong Kong Dollars (HKD) and exclude applicable taxes, which will be added to invoices as required by law.

Expenses for travel, accommodation, or specialized research required for the engagement will be billed at cost with prior client approval.

8. Confidentiality

We maintain strict confidentiality regarding all client information. A separate non-disclosure agreement is executed at the beginning of each engagement. Key confidentiality provisions include:

• All client information is treated as confidential unless designated otherwise
• Access to client information is limited to consultants directly involved in the engagement
• Client data is stored securely in accordance with our data protection policies
• We do not disclose client names or engagement details without written permission
• Confidentiality obligations survive termination of the engagement

Exceptions to confidentiality include: information required to be disclosed by law, information that becomes publicly available through no fault of ours, and information necessary to defend our rights in legal proceedings.

9. Disclaimers

Our consulting services are provided "as is" based on the information and access provided by the client. We make the following disclaimers:

• We provide professional opinions and recommendations but cannot guarantee specific business outcomes
• Implementation of recommendations is the client's responsibility
• Our advice is based on information available at the time of the engagement
• We are not responsible for decisions made by the client based on our recommendations
• Our services do not constitute legal, accounting, or investment advice unless explicitly stated

Clients should seek appropriate professional advice from qualified specialists for matters requiring legal, tax, financial, or technical expertise beyond the scope of management consulting.

10. Limitation of Liability

To the maximum extent permitted by law, Velkro's total liability arising from or related to any consulting engagement shall not exceed the total fees paid by the client for that specific engagement.

We shall not be liable for:

• Indirect, incidental, consequential, or punitive damages
• Loss of profits, revenue, business opportunities, or goodwill
• Damages resulting from client's failure to implement recommendations properly
• Losses caused by information or access withheld by the client
• Third-party claims arising from the client's use of our deliverables

This limitation of liability applies regardless of the legal theory under which liability is asserted, including breach of contract, negligence, or other torts.

11. Termination

Either party may terminate a consulting engagement under the following conditions:

Termination for Convenience: Either party may terminate an engagement with thirty days written notice. The client remains responsible for fees for work completed through the termination date, plus reasonable wind-down costs.

Termination for Cause: Either party may terminate immediately upon written notice if the other party:

• Materially breaches these terms and fails to cure within fifteen days of written notice
• Becomes insolvent or enters bankruptcy proceedings
• Engages in conduct that damages the other party's reputation

Upon termination, we will deliver work products completed through the termination date, subject to payment of all outstanding fees. Confidentiality obligations survive termination indefinitely.

12. Dispute Resolution

In the event of any dispute arising from or relating to these terms or our services, the parties agree to the following resolution process:

1. Good faith negotiation between senior representatives of both parties
2. If negotiation fails, mediation conducted by a mutually agreed mediator in Hong Kong
3. If mediation fails, arbitration under the Hong Kong International Arbitration Centre rules

These Terms and Conditions are governed by the laws of Hong Kong Special Administrative Region. The parties submit to the exclusive jurisdiction of Hong Kong courts for any matters not resolved through arbitration.

13. General Provisions

Entire Agreement: These terms, together with any engagement letter, constitute the entire agreement between the parties regarding our services and supersede all prior discussions and understandings.

Severability: If any provision of these terms is found to be unenforceable, the remaining provisions shall continue in full force and effect.

Waiver: Failure to enforce any provision does not constitute a waiver of that provision or any other provision.

Assignment: Clients may not assign or transfer their rights or obligations under these terms without our prior written consent. We may assign our rights and obligations to a successor entity.

Notice: All notices under these terms must be in writing and delivered to the contact information provided in the engagement letter or at [email protected].

14. Changes to These Terms

We may update these Terms and Conditions periodically to reflect changes in our practices or legal requirements. When we make material changes, we will post a notice on our website and update the "Last Updated" date.

Changes apply to engagements commenced after the updated terms are posted. Existing engagements continue under the terms in effect when the engagement letter was signed.

15. Contact Information

For questions about these Terms and Conditions or our services, please contact: