SOP -Company Asset Buyback

Purpose

The purpose of this document is to establish a standardized procedure and communicate expectations
pertaining to the acquisition of the company assets, provided to the employee during his/her employment.

Scope

This policy applies to Company laptops and mobile phones only.

Policy

All assets acquired for or on behalf of Zameen.com are deemed to be company property. However, the
employee can acquire/retain the company asset in one of the following ways:

Asset Ownership Claim

 In case of mobile phones, the Company may, at its discretion transfer the ownership to the employee given
the date of issuance (first issuance date) of the mobile phone is two (2) years and the criteria for transfer is
as under:
- Only confirmed employees are eligible.
- The employee has completed at least two (2) years of employment with the company.
- If the employee leaves the company (resigns/terminated) before completing a period of two (2) years,
the employee shall return the mobile phone to the company.
 In case of the laptop, it will be eligible for transfer after the completion of the requisite calendar years
(reference annexure A) from the date of issuance (first issuance date) and the criteria for transfer are as
under:
- The employee should be with the company for at least two (2) years
- The laptop should be in possession of the current user for at least two (2) years
- In case the machine gets in the condition where it is irreparable and needs to be replaced, the counter
of transfer of ownership resets and the user will get the replacement transferred to his/her name
(ownership) upon completion of the entitlement period. (Annexure A)
 A formal request from the employee is mandatory for processing the asset ownership claim after the
completion of the eligibility period.
 Upon request, the HR Operations will initiate the process by verifying details of the asset from the
logistics department. Once verified/confirmed, the claim will be processed and subsequently, the employee
will be notified.

 It is solely the responsibility of the employee to initiate requisition for asset claim, HR or logistics
department will not be responsible to intimate the employee on the due date.

Copyright © 2019 - Zameen Media (Pvt) Ltd. All rights reserved

No part of this document may be copied, reproduced, distributed, published, displayed, modified or transmitted to external audience.
Any violation may result in dismissal or prosecution of criminal act.
 In case of equipment malfunction or damage close to the completion of the eligibility period, the asset will
be handed over to IT for repair & maintenance (as per ‘IT equipment repair and replacement policy’) and a
replacement will be issued to the employee for operational continuity. The original asset will be duly
returned to the employee after repair, and subsequently, the asset claim will be processed upon completion
of the eligibility period.
 In case the employee intends to leave the organization and is eligible for an asset claim, he/she must
initiate the requisition process before the date of resignation. Any claim submitted after the resignation
date will not be considered by HR.
 The ownership of the pool laptops shall not be transferred to any employee and all pool laptops will
return) to the inventory upon reaching the end of life (EOL).

Asset Buyback
The employee will not be eligible to buyback his respective equipment in case of promotion or exit (voluntary
or involuntary) from the company.

Exceptions
 The policy aims to achieve complete standardization, exceptions to this policy shall be highly discouraged.

Copyright © 2019 - Zameen Media (Pvt) Ltd. All rights reserved

No part of this document may be copied, reproduced, distributed, published, displayed, modified or transmitted to external audience.
Any violation may result in dismissal or prosecution of criminal act.
Annexure A

Laptop Processor Duration

Standard Intel(R) Core i5/ Intel(R) Core i7 3 years

Upgraded Intel(R) Core i7/ MacBook 13" 3.5 years

All other laptops above the Intel (R) Core i7

4 years
& Mac Book 13" specification

Copyright © 2019 - Zameen Media (Pvt) Ltd. All rights reserved

No part of this document may be copied, reproduced, distributed, published, displayed, modified or transmitted to external audience.
Any violation may result in dismissal or prosecution of criminal act.