Professional Documents
Culture Documents
Oma Prakash Ray
Oma Prakash Ray
Between
Value Added Card Pvt. Ltd., a Company incorporated under the
Companies Act, 1956 and having its Corporate office at G-15, Sector-
3, Nodia Gautambudh Nagar, U.P.-201301, India, (hereinafter
referred to as “PRINCIPAL” through its Authorized Signatory Mr.
Raj Kumar vide board resolution dated 01.03.2013) which expression
shall unless it be repugnant to the context or meaning thereof be
deemed to mean and include its executors, administrators,
successors and permitted assigns;
And
Oma Prakash Ray R/O Mishrauliya Anchal Babubarhi District Bihar
847224 (hereinafter referred to as “BUSINESS AFFILIATE”
through its Authorized Signatory Oma Prakash Ray vide board
resolution dated 01.09.2013) which expression shall unless it be
repugnant to the contest or meaning thereof be deemed to mean and
include its executors, administrators, successors and permitted
assigns;
WHEREAS PRINCIPAL is engaged in the business of selling
“Private Membership Card” popularly known as “Destiny Club
Membership”;
WHEREAS BUSINESS AFFILIATE has offered to act as the Selling
Agent of the PRINCIPAL and the PRINCIPAL has agreed to appoint
BUSINESS AFFILIATE as the Selling Agent of the “Privilege
Membership Card” popularly known as “Destiny Club Membership” as
per guidelines and provisions enforced by statutory authorities on the
following terms and conditions contained hereinafter.
AND WHEREAS BUSINESS AFFILIATE has represented to
PRINCIPAL that it has the necessary infrastructure, management and
expertise to solicit and procure “Destiny Club Membership” business
for and on behalf of PRINCIPAL. It shall at its own cost and expense
obtain a license under the statutory authorities and shall obtain all
other necessary clearance if any under the applicable laws and
undertakes to ensure complete and continued compliance with the
same at all time, and shall ensure that all such licenses are valid and
in subsistence throughout the term of this Agreement.
Now this agreement witnesses and it is hereby agreed by
and between the parties hereto as follow:
1. The Responsibilities of BUSINESS AFFILIATE towards
the PRINCIPAL-
(a) BUSINESS AFFILIATE shall employ adequate number of
qualified and trained persons in its office and all its branches in
line with the sales practices of Destiny Club Membership, who
shall possess requisite knowledge to solicit and procure Destiny
Club Membership business.
(b) BUSINESS AFFILIATE shall forthwith provide PRINCIPAL all
information of its employees, on reasonable request.
(c) BUSINESS AFFILIATE shall cause the persons to adhere to
sales practices prescribed by PRINCIPAL and code of conduct
stipulated under the regulations and applicable laws as well as
the code of conduct provided by “Principal” from time to time.
(d) The Code of conduct prescribed by PRINCIPAL shall be in
addition to and not in derogation to the Regulations and
Applicable Laws>
1.1 BUSINESS AFFILIATE shall remain responsible for:
(a) All business done by or entrusted to its employees; and
(b) All acts of omission and commission of its employees and other
personnel associated with it; and
(c) All acts of selling during the process of its tenure and will be
responsible for all the business put up during the course of its
tenure for the next one year
(d) Employees of BUSINESS AFFILIATE shall not be entitled to any
compensation, fee or other payment from PRINCIPAL.
1.2 Product & Sales Practices
(a) The BUSINESS AFFILIATE shall not sell Membership of similar
nature for any other company.
(b) The BUSINESS AFFILIATE shall make best endeavor to promote
sales of the Destiny Club Membership.
(c) The BUSINESS AFFILIATE shall act faithfully and diligently with
the PRINCIPAL and shall disclose to it all complaints received
by BUSINESS AFFILIATE from the customers.
(d) The BUSINESS AFFILIATE shall sell Destiny Club Membership to
genuine customers and not to any party for re-sale of the
same.
(e) The Destiny Club Membership shall be sold by the BUSINESS
AFFILIATE at the price fixed by PRINCIPAL on the basis of
company price, along with the transport charges, sales tax
other duties and taxes payable. Such price shall be fixed by the
PRINCIPAL as far as possible in consultation with the BUSINESS
AFFILIATE from time to time. Membership shall not be sold by
the BUSINESS AFFILIATE for any price higher than the price so
fixed.
(f) The BUSINESS AFFILIATE shall sell Destiny Club Membership to
the members on receiving payment through current dated
cheque/DD only and shall never receive payment in cash. If the
BUSINESS AFFILIATE sells any Membership on credit, the price
thereof shall be payable by the BUSINESS AFFILIATE to the
PRINCIPAL irrespective of whether the BUSINESS AFFILIATE
has received the price from the customer or not.
(g) The BUSINESS AFFILIATE shall ensure that the cheque
received by the members against membership shall be
submitted to the PRINCIPAL within Forty Eight (48) Hours of
receiving excluding national holiday, failing which BUSINESS
AFFILIATE shall be liable to pay for the price of Membership
Card as well as penalty charges as decided by the PRINCIPAL.
(h) The BUSINESS AFFILIATE shall never mis-sell Destiny Club
Membership and simultaneously shall also inform to every
prospective customer that the Membership is providing services
only related to holidays, health and discount on special
products and is not providing any bonus or returns of any kind
as also displayed on the website of PRINCIPAL.
(i) The BUSINESS AFFILIATE shall not give any warranty of the
Membership sold to the customer other than the warranty
given by the PRINCIPAL.
(j) The BUSINESS AFFILIATE receives any complaints regarding
any defects in using the Membership Card, the BUSINESS
AFFILIATE shall intimate the same to the PRINCIPAL. However,
no Membership sold will be taken back after the guarantee
period is over as prescribed by the PRINCIPAL.
(k) The BUSINESS AFFILIATE shall maintain accounts of the sale of
the Destiny Club Membership as aforesaid and the same will be
open for inspection by the PRINCIPAL whenever required.
(l) The BUSINESS AFFILIATE shall not hypothecate or pledge
Destiny Club Membership Card provided by PRINCIPAL and
otherwise raise any loan on the security of such Membership
Card.
(m) The Destiny Club Membership shall be sold on the trade mark or
trade name of the PRINCIPAL and no change or tampering with
the same shall be made by BUSINESS AFFILIATE.
2. Pay & Compensation (Commission):
PRINCIPAL shall pay to BUSINESS AFFILIATE compensation at
the rate prescribed in (ANNEXURE-1) hereto, for every Destiny
Club Membership Card sold by the BUSINESS AFFILIATE. Tax
deductible at source shall be deducted by PRINCIPAL to
BUSINESS AFFILIATE’s account as per provisions. All taxes,
levies, cess of any kind (including service tax) on gross
compensation shall be borne by BUSINESS AFFILIATE.
The Destiny Club Membership Card shall be generated and
delivered by the PRINCIPAL to the place or places required by
the PRINCIPAL as per the written application received by
PRINCIPAL from the BUSINESS AFFILIATE.
2.1 Notwithstanding anything to the contrary contained
herein during the validity of this agreement,
compensation shall be paid four times in a month by
PRINCIPAL to the BUSINESS AFFILIATE as per
(ANNEXURE-1) in the following manner:
(i) The BUSINESS AFFILIATE shall handover a security cheque
to the PRINCIPAL at the time of execution of this
agreement.
(ii) No compensation is payable if the customer cancels the
Membership (within the cancellation period) and if the
compensation is already paid, the same shall be adjusted in
the subsequent bill. In the absence of the same the
BUSINESS AFFILIATE shall refund the amount payable to
PRINCIPAL.
(iii) Further in case BUSINESS AFFILIATE failed to refund the
amount payable to PRINCIPAL within Seven (7) days of
demand, then PRINCIPAL shall be entitled to recover the
same by presenting the security cheque bearing No._____
of ______ Bank, received from BUSINESS AFFILIATE.
(iv) In case any cheque received from BUSINESS AFFILIATE
towards membership fee returned unpaid by the bank then
the charges against the same shall be borne by the
BUSINESS AFFILIATE.
(v) All payments shall be made by way of an account payee
cheque drawn in favour of the BUSINESS AFFILIATE.
Alternatively, PRINCIPAL may pay by direct credit to the
account of the BUSINESS AFFILIATE. For direct credit,
BUSINESS AFFILIATE will provide the bank account details
in writing to PRINCIPAL.
Other Responsibilities:-
2.____________
ANNEXURE-I
Payouts:
2.______________
CODE OF CONDUCT
The Code of Conduct outlines BUSINESS AFFILIATE’s
obligations as well as policies and expectations of PRINCIPAL in the
following manner:
Scope
Purpose
This Code sets out minimum standards of ethical conduct and
behavior to continue to earn the trust and confidence of customers,
members and public at large.
You as a BUSINESS AFFILIATE pledge to:
Place the interests of existing and prospective clients before
those of PRINCIPAL of yourself.
Maintain the highest standards of professional competence and
expertise in order to advise existing and prospective clients to
the best of your ability.
Respect and reciprocate the confidence of existing and
prospective clients and carefully guard any information which
becomes known to you regarding their personal business
affairs.
Uphold the best interests of the institution of customer service;
and
Comply with the Laws, Regulations and Codes of Conduct
prescribed by the Statutory Authorities as well as PRINCIPAL.
This pledge extends to every aspect of your business
relationship:
2.___________