Vellacott Payments - Master Services Agreement (signed)
Documentexecuted Vellacott Payments: documents · contract · executed · 2025-06-26
Executed Master Services Agreement signed on 26 Jun 2025 for the Enterprise tier, term 10 Jul 2025 to 9 Jul 2026. Commits 99.9% availability and P1 first response of 0.5 hours. Annual recurring charge £99k after a 10% first-term discount.
What it says
What this says
Current to 11 Oct 26Executed Master Services Agreement signed on 26 Jun 2025 for the Enterprise tier, term 10 Jul 2025 to 9 Jul 2026. Commits 99.9% availability and P1 first response of 0.5 hours. Annual recurring charge £99k after a 10% first-term discount.
What it is: the executed MSA between BB-Demo and Vellacott Payments, which "supersedes every earlier draft of the agreement held in the same folder". It sets the Enterprise subscription and the one-off implementation.
Commits: availability 99.9%, P1 first response 0.5 hours, and a nightly refresh "Complete by 07:00 customer local time on business days". Billing is quarterly in advance on 30 days from invoice.
Unusual: the service credit basis is "Availability and data freshness", so a late refresh can earn a credit even when the brain stayed available. The 10% discount applies to the first term only and ends at renewal.
Not settled: the customer signatory is not named, only "Authorised signatory". The text gives an end date of 9 Jul 2026 but no renewal terms or price, and does not show what happened after that date.
As found in this document
Current to 9 Oct 26- Date end9 Jul 2026Source: object_read:doc_084_005
- Date signed26 Jun 2025Source: object_read:doc_084_005
- Date start10 Jul 2025Source: object_read:doc_084_005
- Price£99,000Source: object_read:doc_084_005
- Availability99.9%Source: object_read:doc_084_005
- P1 first response0.5 hours (half an hour)Source: object_read:doc_084_005
- Service credit10% of one month's fee for each month with a breach10% of one month's fee for each month with a breach · Source: object_read:doc_084_005
- Credit basisAvailability and data freshnessSource: object_read:doc_084_005
- Nightly refreshComplete by 07:00 customer local time on business daysComplete by 07:00 customer local time on business days · Source: object_read:doc_084_005
- Subscription unit price£110,000 with 10% discount, net £99,000£110,000 with 10% discount, net £99,000 · Source: object_read:doc_084_005
- Implementation fee£30,000 one-off, twelve weeks, up to twelve connectors£30,000 one-off, twelve weeks, up to twelve connectors · Source: object_read:doc_084_005
- Total contract value£129,000, the annual subscription plus the one-off implementation fee£129,000, the annual subscription plus the one-off implementation fee · Source: object_read:doc_084_005
- BillingQuarterly, in advanceSource: object_read:doc_084_005
- Payment terms30 days from invoiceSource: object_read:doc_084_005
The document
Body
Vellacott Payments - Master Services Agreement (signed)
Status: Executed. Signed on 26 Jun 2025. This executed copy supersedes every earlier draft of the agreement held in the same folder.
Parties
| Party | Details |
|---|---|
| Supplier | BB-Demo, London |
| Customer | Vellacott Payments, London, an FCA-authorised e-money and payments firm |
| BB-Demo account owner | Sophie Ling |
| BB-Demo customer success manager | Daniel Okafor |
Background
Vellacott Payments provides payouts and collections for marketplaces and payroll bureaux. It subscribes to the company brain on the Enterprise tier so that its partnerships, merchant onboarding and complaints teams can see each client together. The brain is built and run inside the customer's own Snowflake account.
Term
| Item | Value |
|---|---|
| Start date | 10 Jul 2025 |
| End date | 9 Jul 2026 |
| Tier | Enterprise |
| Billing | Quarterly, in advance |
| Payment terms | 30 days from invoice |
Commercial lines
Read the whole document (2,901 characters)
| SKU | Line | Qty | Unit price | Discount | Net | Recurring |
|---|---|---|---|---|---|---|
| SUB-ENTERPRISE | Company Brain Enterprise subscription | 1 | £110k | 10% | £99k | Yes, annual |
| IMP-ENTERPRISE | Implementation, Enterprise (twelve weeks, security review, up to twelve connectors) | 1 | £30k | 0% | £30k | No, one-off |
Annual recurring charge: £99k.
Total contract value: £129k, being the annual subscription plus the one-off implementation fee. The total is not an annual price.
The discount applies to the first term only and ends at renewal. Amounts are stated net; the VAT position is shown on each invoice.
Service levels
| Measure | Commitment |
|---|---|
| Availability | 99.9% |
| P1 first response | 0.5 hours (half an hour) |
| Service credit | 10% of one month's fee for each month with a breach |
| Credit basis | Availability and data freshness |
| Nightly refresh | Complete by 07:00 customer local time on business days |
Because the credit basis covers data freshness as well as availability, a month in which the nightly refresh is not complete on time can attract a service credit even when the brain remained available.
Implementation
BB-Demo delivers the Enterprise implementation as a fixed fee over twelve weeks, including support for the customer's security review. The implementation starts on the start date above.
General terms
The standard BB-Demo data processing terms and confidentiality terms apply. The customer's data stays in its own Snowflake account throughout. Renewal is discussed ahead of the end date, and BB-Demo's customer success manager gives the renewal notice in good time.
Signature
| For BB-Demo | For Vellacott Payments | |
|---|---|---|
| Name | Lewis Kerr | Authorised signatory |
| Title | Account Executive | Authorised signatory, Vellacott Payments |
| Date | 26 Jun 2025 | 26 Jun 2025 |
Unusual terms
Current to 9 Oct 26- Data freshness credit basis
- 10% first-term discount ending at renewal
- P1 first response half an hour