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54 views9 pagesWealthExtra Training
Trainer
Uploaded by
Sriram GovindaRajCopyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF or read online on Scribd
LBFal2oFA py 553652
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[Link].12144,B-1,
S. KAVITHA
STAMP VENDOR
she ALAR?
eau
TRAINING AND RECRUITMENT SERVICES CONTRACT
WD reccrormmoncrenmerseeeimnin GAP ue Auge st
BETWEEN
‘Tata AIALife Insurance Company Linited, hein ts Registered Ofc at 14” Flor, Tower A Peinsua Business Park, Senapati
apa Marg, Lower Pare, Mumbai 400013 (heretater cled the Company) of he ONE PART;
AND
Naveen Nehru J a Sol Por Pati rm conssing os puerto MMI.
Naveen Nehru sbi Sind Mrs M&(AsshaeNhi22-Jriecistered under DEAT ASLO FA end hang its
Business Associate) ofthe OTHER PART.
RA~Aoyleete04
ror WEALTHEXTI
se R, SUBRAMANI, [Link].B.L
f "ADVOCATE & NOTARY PUBLIC
Government of Inala
Partner No.24/11, and Book, Genchipuren.
ar, Chennal - hee
TNeGai aod 054 502 BETWEEN
Tole AIA Lite Iraurance Company Umit, having ts Ret
Bapat Marg, Lower Paral Mumba! 400018 resi a
INING AND RECRUITME
‘THIS CONTRAGI
Businass Associate) ofthe OTHER PART.
‘the Parkes ereby WATNESSETH thal in consideration the mut
DO HEREBY AGREE AS FOLLOWS:
nis Convact
2, ‘The term Businass Associates includes
«Provisional Business Associate (PBA)
+ Business Associate 1
Businats Assocate Leader(BA)
+ Senior Business Associate / Senior Business
Assotiale Leader (SBA)
+ Chet Business Absocale | Chiof Business
Leader (CBA)
= Senior Parner
. Esch ofthese are detinedas per Schedule of Training
‘and Recrulment Services Conroct
Agent means anc salle deemed torean ony those
persons who have been duly lensed es such und
fhe relevant Regusions ofthe Insurance Regulatory
fant Development Authorly and who have been
‘ppoined Agents of the Company under a valid anc
Subsising Agent Correct and whose appoinments
te vad as of ery gvon day
d. Companys standaris" means and shall be deamed to
fnean the nome / standards prescrbed by the
Company, om te to ima, in order tobe confomed
to by 2 person 29 #8 to make him elgbe to be
‘ppcinted 2s an Agentofthe Company and to corte
‘son Agent ofthe Company
.“Wenticaon * means end shal be deomes to mean
the process of locating / idenifing persons sutable
‘nd or ite potential tbe successtulAgents of he
Company, in tem of the slaty and regulary
‘equrements a8 wel 35 the Companys sanders.
f, “Insurance edvetisemont’ means and shall deemes
to have the mearing assigned tit in sub-Regulation
(©) of Regulation 2 ofthe Inauence Regulatory snc
Development Autoniy insurance Adverisements and
Disclosure) Requaions, 2000, 6 emended fram tme
tote.
“Recruit” shal mean and shall be deemed to ean &
person recited by Business Assoceto interns of
WD estes rnin heals
or WEALTHERT
FA Fe
‘RAMING AND RECRUITMENT SERVICES COMTEAET
FoR TRANNGAND RECRUTTNENT SERVceS mee tin_[ ZAC day 1 Gapltrdpetaocd4-
stored Ofceot 14° Floor, Tower A, Perinela Buness Park, Senapat
ed the Company) othe ONE PART,
covenants of Agreement hrein contained the pats hereto
Tubclavee (2) hereinabove and undergoing raring
with the Business Associate, ‘Recruiment” means and
hal be doomed to moan and include the process Of
Sopronching a sutable candidate and reaching an
forcement. wih him to undergo the taining and
{uatfying, process requled in order to ffl the
Companys) standards and the Statutory and
Regulatory requirements 2s may be in force, fom te
tote,
hh. Services" undar tia contract means and shall be
‘eemed to mean the services of “denifaton,
feoulment, trang, swpervsion, counseling and
tmatvabon’ 82 mere pariculay defines hereinabove,
“Supenision, Counesing and Motivation” means
‘andshall be deemed to mean the ongoing and
‘onlnugus process of ensuring thet an Agent performs
hit euies and obigatons lowly, efenty and
confing 19 the Company's stendards of excellence
1s sel presenbed by the Company from ime to time.
J. “Tealing! means and shall be deemed to mean the
process of ensuring that the rect fils, compos
win and confems to the sttulry and regustory
Tequrements as well as the Company's standards,
‘fem tne toto.
| "Tsring materials? means and shall be deemed to mean
the material ang information, whether in int medium
tr elecronie medium orin eny ctor form. supped by
the Company tothe Business Assosat for tha puDOSe
of providing better series unde hs Contract.
rm. “Ibimtion to Business Assocate™ shall mean
intimation ven by the company to the Business
Assoriata ether trough alter, mal sms, publishing
fon wate (TALIC),csplay at branches, or any other
trode accessible te Business Associate.
Al referenees to one gender shal, unless the context
fspectialy requires otherwise, Include the other
ender as wel,
—daenan
“The Company = Authorized Signatory Signing Capacity
elon cnt
shat at
Lopogettonnaiey be days anaes
Zileenel a Cie steraee Sie ra
cin oe shee coe ror ad
ot tren een oo
Engagement: a sc
‘The Company hereby engages the Busines Associate
328 the Business Associate and
the Business Associate hereby grees to hold ise avalabe
‘o,ender, atthe request ofthe Company, the services under
this contract i.e. identifcaion, recritment, Paning,
‘supervision, counseling end motivation of Agents a8 more
Paticulary defined in hereinabove to the best oft ably in
Compliance with all applicable laws and the terms and
conditions set forth herein,
‘The term ofthis Contract shall be fora period of one yea,
‘commencing from the date of signing this Conact and
{hereate wl be renewed from year to year in wring subject
to the provisions as to determination heeinaer contained,
‘on the same and / or amended / revised tems, as the
Company may deem necessary, This contact shall be
‘Automatcally renewed on year on year basis without any
written communication subject to fulflment of contract
‘maintenance conditions as delaled in part 5 of the frst
schedule to this contact as amended by the company from
time to tne,
Recruitment and Training:
s.
The
‘The Business Associate as required by the Company shall
‘assist inthe identicaion, recruitment an traning of recruits
{or the Company who shal ener into agency agreement wth
the Company 95 Agents thereof and thereafter the Business
‘Associate. shall be responsi for training, supervision,
‘counseling and motivation of such Agents ado also monitor
thaie progress and devise taining modules & effecively
perform the ences under this cortract so 3s tomprove their
Jong tem eflency, productvy and output.
“The Business Associate wil make tell avare of all othe
Company's standard operating procedures & practices
‘canceming recrutment and traning ofthe ecruts or Agents
‘and enue that elshe & hsther agents or recruits adhere to
ich procedures & practices. Business Associate shal, i
‘equired by the Company wil self (rough it Partners
Proprietor) undergo such traning, 2s the Company deems
necessary for the proper performance of the obligations
‘reed tn this contact.
Business Associate wil only engage ite In Identification,
training, 2ssising in recrutment, counseling, motivation end
monitoring the progress and suggesting. snd imparting
‘fective taining in relation tothe Agents for the Company
‘andl not provide the same or sil service foray ety,
‘which the Company may at any time deem a compettr.
‘Business Associate shal take the speci writen permission
ofthe Company before entering into any auch contact wi
‘any thr party.
Business Associate wil provide the Agents with adonal
training a6 and when required and proper In order o improve
“or WEALTHEXT!
Partner
ines Resociate-Aulosizd Signatory ®
th efceny and pecivy. Company wl pov the
Business Aatocate wih the peromarca dette of hese
Agets on on erging bass esr to eater
Pevomare whch canbe uted by ba Bass Aetocle
1 erty te tang nt arta rege nro
enhance thir eine. rsucnty and eto The eos
‘lating to vous chi obo Prtoad y Basins
Assoc bone ye Compoy espera ters an
Condon aed ty tbe Coneany in wang aloe the
Seated acts are carted out Canpny wba proving
th apgepate an neneay infact, manpower nd
‘tpg sstama 8 may be necoay an maybe mt
dared yb paren tiga ef ie, ede
hata tw Busnes Assocs fo conduct he recumer.
tain, sopeien and cunt te Ages 8
prleson manner The Buss Associ al eaure
{fat the Ago appre by the Company Based on ts
recormandoton nts ths Contax ore ata es tly
{tore ofthe ttt an repair obgtons aswel at
‘Business Associate shall provide the services under this
contract lover Inca, However, ecrutment actives can be
Caried out only In the location from where the Business
‘Associate is operating ffom, ie., (ENTER LOCATION),
‘excapt thatthe Company may allow the Business Associate,
tte sole dsezeton, to cary out the recrument actives in
‘ther parts of ais
‘The Company shal have the right to execute and terminate
similar contacts of her ents fom time to time anywhere
In Indian such manner es the Company shall deem ft.
‘No Employment Relatonshie:
12
‘Should the Business Associate decide to engage any staf or
‘ther person (6, such staf or other persons shall not be oF
‘be deemed tobe engoged or employed bythe Company oF
bythe Business Associate on beh ofthe Company and any
costs endlor expenses incured os recut of such staf
‘other person(s) beng engaged shel be the sole responsiiy
ofthe Businass Assccite
‘Any representation or warranty by the Business Associate to
‘any staff or other person(s) engaged by i, (whether or nat
‘under a contract for service), hat they are being engaged or
‘employed by or on behalf ofthe Company shall bea breech
‘ofthis contract end entirely without authory
‘Tho employees and stat ofthe Business Associate shall at
fil times, bo and remain the employees of the Business
‘Aanocite, Business Associate shall be fly responsible for
thal sory, wap0s, stattory payments and deductions there
ftom and for al other dues payable to ts employees
Employees othe Business Associate shal not have any right
to clam employment under the Company st any time,
Business Associate shall hold harmless and effectively
Indemnified the Company fram any caima of employment by
the employees of the Business Associate against the
‘Company, Including without imitation, any claims for benefts
of employment and any claims, acion or demands made
‘against the Compary by any person er authority arising fom
‘The Company « Autoriaed Signatory tay be steed by he Company, Ths cae shal sony
ae ha
‘the expiryRermination of this Contract. :
{tis hereby mutually agreed and declared thatthe Business
‘Associate is an independent contractor end itis futher
‘agreed that nothing contained herein shall constitute or bo
deemed to be or i intended to consitute the Business
‘Associate as an Agent of the Compary or to create the
‘lationship of employer and employee whether expressly or
‘impliedly, between the Company and the Business Associate
‘OF any of the persons under its charge, which shall include
‘Agents. Nothing contained herein shal be deemed {0
Constitute a partnership / proprietorship between the pares,
hereto,
Nis hereby expressly declared that neither party shall tary
time enter into @ contract inthe name of or purpring tobe
‘made in the name of the other pery and / oF by any act,
pledge the credit ofthe other party or impose or attempt to
impose any contractual obligations on the other party. Further,
neither party shall meke any representation or give any
warranty on behalf ofthe athe pay.
‘The Business Associate is required to complete al prescribed
18 well as mandatory traning as announced by the Company
‘tom time to ime spar from the Continuous Development
‘Programme as detalie in the Contact Maintenance Crea
(EMC) atached as Schedule + to this contract. Mandatory
‘reining shall include amongst other, training on Market
Conduct Guidelines (MCG), Code of Conduct, Code of Best
Practices (CBP), Anti Money Laundering & Tiining on
Products & Sales Process as Specifed in the CMC
‘mentioned in part ofthe Schedule to this contract.
‘As per clause 332 of the Guidelines on AatiMoney
Laundering (AWL) issued by the IRDA, tiring on AML is
mandatory forall the agents recruted by the Business
Associate
“The Business Associates also responsible to ensure thatthe
‘Agents complete the prescribed and mandatory training as
‘announced bythe Company from time to time.
‘Remuneration and Continuance of Contract:
17. The Company wil pay and the Business Associate agrees to
‘accep 3s remuneration nfl fo al services rendered under
this Contract the payments set forth in the Schedule of
Compensation which shall be a Schedule subject to
13,
1“
8.
16.
s3id Schedule of
‘Compensstion by way of Intistion to Business Associate
‘The Schedule refered to in Clase 16 hereol shal frm and
‘be deemed to form a part ofthis Contract or salong a
‘subsist and this Contec shal only be deemed tobe vl and
binding upon the Company for solong as such Schack shall
‘subsist in accordance vith th date slated therain and there
shall be no holding over of any ofthe tems and cancion of
‘this Contract save and except that the Company shall be
For WEALTHEXTRA
3 fariner
The Babine ASoCte -Autboied Signatory 3
nitled to enforce any such terms or condtion by reason of
{any breach on the part ofthe Business Associate and ! oF
‘Agent recruited, trained, counseled and motvated by the
Business Assoc Consequence of this Contract for
hich the Business Asscciate would continue to be lable
hereunder
‘Any benef, remuneration, prvlege perauste not expressly
Set out or refered to in the Schedule of Compensation sha
be paid at the sole discretion ofthe Company without any
binging legal effect on the Company to continue to pay oF
improve any such benef, remuneration, priviege, perquste,
‘andthe Company shall be fully at fberty to moat, change or
iscontnue forhwith any such benef, remuneration,
Bivilege perquste. Its specifcaly clarified tothe Business
‘Associata and agreed by the Business Associate thatthe
‘Business Associate has no rights whatsoever to claim any
payment otherwise than that is expressly payable as a
Contractual ablgation and so set out in this Contract. Kt Is
futher clarfed that the bonefi, remuneration, priviege
perquiste not expressly set out in the Schedule of
Compensation snot a contractual obligation.
Place of Business:
20, The Business Associate shall maintain a place or places of
business in conformity with all applicable laws, for the
services tobe rendered under this Contac, as agreed upon
by the Company.
‘Active Parner! Proprietor
21, Mr / Ms, shall tall times be actively associated with and
engaged in the services to be rendered by the Business
‘Associate under his Contract and shal be refered Active
Business Associate’
Responsibities for Monies and Property:
22. _Itishereby understood and expressly declared bythe panies
hereto thatthe Business Associate isnot authorized to and
‘hall not receive any monies for or on behalf ofthe Company
‘fom any recruit Agent, pocyholder/ Prospect and / or any
‘ether person. Inthe event, through inadvertence otherwise,
‘any monies intended for the Company are routed to the
Business Associate / come into the possession of the
Business Associate, the Business Associate shal
Immediately inform the Company ofthe same and, ul such
time as the same are inthe safe and acknowledged custody
‘of the Company. be fully responsible and lable to the
Company forthe same,
The Business Associate shall ensure that the Agents
ppointed by the Company based on its recommendation in
terms of this Contract are at all tmes fuly aware of thee
stalutoy and regulatory obligations as wel as dues and
labties in terms of the Companys standards and shall
‘ensure their due compliance a the same, In the event of any
‘breach or defauit of the statutory and regulatory obligations
‘and / ofthe Company's standards by the Agent and /or any
‘negligence or fraud or misappropriation of funds by the Agent,
'@ consequence of wich, whether dlrectly oF incre,
‘damage andlor loss is caused tothe Compary, the Business
‘Associate shall make good such damage and Jor loss and
hereby agrees to Indemnity and shall, at all times, keep
Indemnified the Company agsnstthe seme,
19.
2
eS
The Company = Authorid Signatey Tho Business Assocate shal enue tat the Age
pore by he Cempary based ont commend
tera of tis Conroe ata tines fay ner a
Satay and regulary eobgston os wel anes ar
labies in tame of te Cangenye sandods nd sha
ensure th ue complane ote some nine event of ny
Broach o deat of he sary and regu obigtons
thd ert Conpanys sanders byte Agent od a ny
‘eolene etd ermiseprentaone! nb be Aer
fre cnsoqurea of wich eter Cex onde
ame enor ion cand a he Conan. he Bunioss
‘Associ shal rake god such damage on! ss and
27- hry ores to Inert rd aa al nes, keep
indonifed he Company opal he sr
In edition tothe above, the Business Asscciate shel
‘ls be isle for eny penalty as may be imposed by
the Company, forany action taken agains the Agents)
(Guch 98 cauion, waming or termination) on the
(round of any breach or defaut ofthe siautery and
reguatory obligations and I or the Company’
‘standards bythe Agen(s) and or any negligence or
fraud or misapprepriatonoffonds by the Agents). The
‘titeria to impose penaly and amount thereof shall be
decided by the Company atts sole iscreton and shall
be communizated to the Business Assodiate ftom tie
totine.
Maintenance and Delivery of Documents
24, Books of accounts, elecronic data and ther records kept by
the Business Associate in accordance with the Inve of Ina
233 shal rom time ome bein fore and whch are pertinent
{o the services rendared under hs Contract shall be mage
‘valle fo the Company at any reasonable te upon
Fequest being receives rom the Company and shou the
‘Company so desire, wil be ered to take copies of al such
books and sccouns provided thatthe copies wl ony be of
that pat of he bocks and accounts whic ae perinentto the
ervces rendered by the Business Assocate under tis
Contact.
Restraints on Business Assocate
25, The BAshall provide he Sexicesin relation toile insurance
business excel othe Company and shall ot, directly
crindectoroterwise, engage or do any business, provide
‘ny serves, consultancy or advisory to any insurer snd or
Intermediary in elation to He insurance business
25, The Business Associte's thority and power shall ecend
no fuer than a8 exorestystatod In thi Contac. Is
hereby expressy understood and declared that the Bt
‘Assocstohes no autho todo oreause tobe done and shall
‘ot, ether dretyorincrecty do:
|. Ay a3, do0d or thing thats function and/or
‘qualfcaion of en intrmadiay or Insurance
Intermediary 08 defined inthe Insurance
Reguatry and Development Autor Act, 1909
‘andlor any Regulations there unde rom time to
sim
For WEALTHEXTRA
cor
1 Specity ins Parnersip Deed or as business
objectives required fer rogitvaion with
goverment bodes, “salting or procuring
Insurance busines as one of it’s sin objects:
Receive any mies or consideration in any frm
‘whatsoever rm the recruits and / or Agents for
the eenices tobe performed under this Contract
Issue, make, ater, vary or discharge any
contact polcy oF recep nor waive any
fereture, nar incur any leit against the
Company, nor receive ary monies due oF 19
become eve othe Company
\V. Solicitation for insurance business.
riidenilty, No Advertsing er Publication by the Business
Associate:
Co)
®
©
‘The Business Associate shall not push, disseminate
Gutibte, issue or cause to be published, disseminated
‘Gatibuted or ssued any insurance sdvertsoment and Jr any
overtzoment of ary kind whaticever with respect to the
‘Company in any newspaper, circular, magazine or publication,
pant medium, electronic medium (nouding_ the intemet}
tihatsoever without pr wet authority from the Company,
hor shal the Business Associate wite or cause to be writen
Sry letters to ary newspaper, magazine or publication
{electron ochre), group/ association, frum or website,
In respect ofthe Company without ebtaring the prior writen
Aappcoval ofthe Company.
‘The Business Associate undertakes that shall notrevea. and
shall use fs reasonable eorts to ensure that its directors,
oficers, managers, partners, members, employees, legal,
financial and professional advisors and bankers (cllecvely,
Representatives ) do not reveal, to ary third party any
‘Confidential Infomation of Company without the rice weit
consent of Company.
“Confidential Information” shal mean Cent Data and all
Information of er pertaining to Company (ecusing products,
tusinass and strategic information) which is notin public
domain, The decision of Company 8s to whether infomation
| Confident Information or othervise shall be final and
binding on the Business Assocs
\Whout limttion of the tems end conditions set forth in the
aforesaid Clause above, the folowing terms and condtions
shall apply wih respectto all Client Data:
(1), Fer purposes ofthis Agreement, Client Data shal mean (a)
‘ny information trom wrich on Individual may be identified,
(b) ny information regarding Company's (andlor its
tates) cients o prospective clens received by Business
‘Aasocate In connection wih the performance of ts
dlgatons under the Agreement, ineuding (en indhiduals
ame, address, e-mall address, IP adress, telephone
umber andor social secunty related number, (i) the fact
‘that an individual has a relatonship with Cempany andor is
parent, alates or subsidiary compari, (i) an Individuals
‘account information; (Wjany information regarding an
Inalvidvats mecical istory oF trestment; end (e) any other
Infomation of o relating to an individual that is protected
trom eaciosure by appliable Privacy Laws. For purposes of
this Agreement, Privacy Laws shall mesn eny applicable
—fltnwetiein
‘The Company ~ Authorized Sigoatory laws, rules oF regulations of any jurist
et ny iwisscton relating to the
nonpublic personal infomation. Tha pats ecnonledge
the Privacy Laws may gover disclosures of enputts
Personal infomation about consumers. B
‘hall protect and oe
‘and keep set confidental all let Data, AL
any time, upon Compeny’s request, Business Associate
shal retum to Company all Clent Daa in ts possession.
Company shall be under no obigaton to take any action
that, within Company. judgment, woud constiute a
Violation of any Privacy Laws ors ntemal privacy polices,
Notwithstanding any other provision ofthis Agreement,
Business Associate covenants tha, with reoped 19 any
Client Data, Business Associate shal (2) comply witha
applicable laws and regulations regarding data secury and
Brivay in performing the Senices and is oercbigaions
hereunder; () comply with Companys privacy poles as
‘Provided to Business Associa in wring fom time to tine
and all applicable privacy laws, including the vec Law
{@) keep al Cient Data sey consents nd nt disclose
‘Fuse any Gent Data except othe exent necessary to
Perform the Services and in eeordance with Compeny's
privacy poles and all appicable privacy laws, udng te
Privacy Laws (8 not disclose any Cent Data to anyother
entiy (neuding Business Assocates thi pay sence
Providers) without the pie wren consent of Company and
fan egreerent in wing fom such othr ety to use oF
tiecose such Ciont Data only to the exert necessary to
cary oit Business Associates clgalons under this
‘Rareement and for no. other purposes: (@) mainiin
dequat adminitrav, technica ara pyc elequords
to enaure the security and contéertaity of Cert Data,
protect agsine any ancipaed teats or hazards to the
ecuryor integety of Chont Data, and protect against
Aauboaed access to oF use of Gant Data that could
teat inhamm orinconvenence oan Indiv ()natmake
ny changes tots socurty measures that woul Incease
the isk of an unauthodzed acces (a) notly Company
inmeditly in wring when Gusinoss Associate becomes
ware of any material breach offs secur safeguarcs o
has reason fo balve that Clent Data may have been
subject fo unauhoraed delsure, acess, or Ute, hich
‘otfeton shall inode the folovng information () he
nature ofthe unaired dscosure er use i the Clot
Data closed or used, i) i derty of person(s) er
rtf) wo recaved the unauthorized dacs oF
‘made the unauthorized use: (v) what corectve action
Business Associate took or wil tke 10 prvert futher
unautored dicesures or uses; (¥) what Business
‘Associate or wil doto mitigate any deleterious eect of
such unsuvoried dsdosure ruse, and (if) such oer
intematon 66 Company mey reesonaly request snd)
tate al reasonable and appropriate stops, at Businass
Associ expense incu the provision of note 12
affected indicat, io protest Caen Data nthe evert of &
falure of Business Assoala « sacuy eofegurds or
\pasboreed ezus to Chala fom of INOUD)
(2) Business Assocs represents and waar ta
‘Company tat uring the orn of i groan has
‘nd wl coninue to have adequate admisalve,
@
For WEALTHEXTRA
ner
‘The Businds ABocite- Authorized Siento s
technics, and physical safeguards in place to ensure
the securty and confidentiality of Cent Data and ther
ecards and information of Company's customers, 0
protect againet anicipated treats or hazards to the
Integtty of such information and records, andto protect
fageinst the unauthorized access or use of auch
Information and records.
Business Associate acknowledges and agrees that any
unauthorized use or disclosure of Client Data may
‘case immediate and ireparable harm to Company for
‘which money damages would not constle an
fdaquele remedy and that in the event of any
Uunauthorzad “use or disclosure of Client Daia,
Company wl be entitle to immediate injunctive eit.
Notwithstanding any other terms or conditions of this
‘Agreement, in the event that Business Associate
breaches any of te representations, warranties, or
‘obligations under this Clause , Company shall be
entiled to recover money damages, including special,
Incidental, punitive or consequential damages, whether
‘based on breach of contract tor (including negligence),
or otherwise; and Business Aasocate shall be required
to bear all costs of notifying Company's customers of
‘any unauthorized access to ther Cent Data. Any
breach of tis Clause shall be deemed 3 material
breach of this Agreement.
Rights and Remedies Upon Breach
the Business Assodiate breaches, or threatens to
‘commit a breach of any of the provisions ofthis Clause,
‘Company shal, without prejudice tits rights under this
‘Clause and in addition thereto, have the right and
remedy tohave such provisions specially enforced by
‘any court or tribunal having jurisdiction, it being
‘cknowedged and agreed that any euch breach or
‘threatened breach wil cause ieparable Iu tothe
Interests of Company and that monetary damages may
not provide an adequate remedy.
Indemnaty
‘Assignment:
28. (a) any legal actions and / or proceetings of any nature
whatsoever re inated. againet the Company asa
‘consequence of anything done contrany tothe provisions of
this Contact or any unsuthorized representation, action,
publication or statement ofthe Business Associate whether
by itself or any staff which t may have engaged. or in any
‘manner whatsoever, the Business Associate shall save
harmless the Company fom and does hereby agree to
Indemnity and keep indemnified the Company at all es
against allcosts and damages arising thee om orincidental
thereto,
(0) Business Associate shall hold harmless and effectively
Indemnified Company end its director end employees
‘against any and all costs, claims, expenses, losses,
Iiigaton (eluding counsel fe) and ether obligations,
labities and consequences sussined by Company, ts
‘ermpoyees or dectors arising out of or related 0 (a)
breach of ony warranty by Business Associate, (b)
\Wolaton of ay conractvel provisions inthis Agreement
Cy}
“The Compoay’ + Autrzed Signa by Business Associa
sso: and (6)
intelectual prop
Associate,
8; (c) breach of law by Business
infringement of any tird party's
F Bropretary rights by Business
(©) Business Associate shat
Indemnified Company ane
‘against any and all cost
hold harmless and effectively
its rectors and employees,
ss, cleims, expenses, loss
\iabiltes and consequences sustained by Company, ts
employees or directors arising out of o related tothe
thet loosing or misplacing of any materials, documents
(© records ‘by Business Associate which materials,
Socuments or records had been handed ‘over by
Company to Business Associate
Stationery & Trsining Modules:
29,
Change in the Consttution of the Fim / Shareholding of the
‘The Business Associate shall not represent itself as an egent
‘or employee of the Company. es
Company
30,
‘The Business Associate undertakes not to make any change
‘whatsoever in its constitution / ater its shareholding pattem
In any manner whatsoever without the prior written approval
‘of the Company.
‘Termination:
at.
(a) Either party may terminate this Contract by giving the
cother party 15(Fiteer) days notice in wring to that elect
without giving any reason for such termination. Notice of
termination must be delvered In set compliance withthe 5
‘provision ofthis Contract.
(b) This Contract wil immediately terminate without the
need for any notice or reason to be given by the
Company upon any of the fllowing events occuring:
@ The death or Total and Permanent Disability of the
‘Active Business Associate (Total and Permanent 4,
Disability’ means the inabilty to perform fulltime
‘oF parttime work as ceted by the Companys
‘appointed medical practitioner; or
@ Any ofthe partners J proprietor of the Business,
‘Associate being dedlred bankrut: or
(@ The main partner / proprietor who has an agency
‘contrac withthe Company sufers temination of
‘gency contract
(©) Tis Contact wal immediatly terminate upon waiten
notice given by he Company othe Business Associate 45
without the need for any reason upon any of the
following evens cccuning
The Business Associate has any judgment entered
‘against which hes not been sete for a period of
thy days; or
©The Business Assocste breaches any ofthe terms and!
cor conditions ofthis Contec; or
The Business Associate oF any of its partners /
proprietor commits any dishonest or fraudulent act
which resus in it being found uity of an offence ori
the Business Associate or any ois partners proprietor 38,
— For WEALTHEXFRA——
wll Me AutoredPgtae§ ‘
{G8ge8 in any conduct which inthe opinion of the
Company is prejudicial othe Company’ interests; or
(%) Should the Company deem that the services rendered
by the Business Assoclate under this Contact are nat
to the satisfaction of the Company, oF
(Y._The Business Associate does not meet the Contract
Maintenance Criteria 2s mentoned in Part 5 ofthe
‘Schedule to this contrat or
(W) The Business Associate does not complete mandatory
traning prescribed by the Company Regulatory Body
from time to time and for does not adhere to the
Company's Standard Operating Procedures &
Practices in the eres of recutment and training of
histher agents recruits; or
‘The Insurance Regulatory and Development Authority
require the Company to terminate this Contract.
Upon termination of the Contract in accordance with the
‘Tem and Conditions eet out herein, the Business Associate
shal fotwth surender the ident card as well as books,
document, elecronic dat, training materials and property
supplied by or belonging to the Company or pertaining
exclusively tothe busines ofthe Company, tothe business
‘Associates under ths contrac, as well a6 any training
modules devised by the Business Associates for and on
behalf ofthe Company. n case the identity car is misplaced
‘not handed over, the Business Associate should undertake
to indemnity the Company against any losses due to
subsequent misuse,
The Business Associate hereby agrees that upon the
temination ofthis Contact whether by fluc ion of time or
ctherwise the Company shall be enilled to pubish notices in
the local newspaper or dispatch correspondence the general
public thatthe Business Associates not authorize to render
the eervices under tis contract.
Itis expressly agreed by the Business Associate that, If for
any reason whatsoever, the Company is ofthe opinion thet,
this Contract should be terminated or this Contract Is
terminated or required to be terminated as a consequence of
‘or due to the directions and r orders of any Authority and J
(oF the provisions of any law, the Company shall incur no
lablty whatsoever towards the Business Associate under
this Contract either for breach ofthis Contract or for ary
damages or otherwise.
Compliance with Contract:
‘The Business Associate shall act and conduct itself in stick
‘compliance with the terms and conditions ofthis Contract and
the laws of India and all acts or omission by the Business
‘Associate notwithstanding the fact that this Contract is
entered into with the Business Associate, give rise to the
‘same lablty onthe part ofeach ofthe partners / proprietor
ofthe Business Associate as is assumed by the Business,
‘Associate. Any flue or omission onthe par ofthe Company
1 toke any immediate action on any breach of any of the
tems oF conditions of tis Contract on the part of - the
Business,
‘This Contract shall be assignable by the Company in whole
‘orinpartto any suocessor or aflisted company, however the
‘The Company - Authorized Signatory 31.
eis ao tip pap
sereceana eat rapat ta ay 4
ei we he Se oe yt
Tenaya cant crete Spy Sh
Headings used in this Contac are fr referer
ivact sre for reference only and do
ot affect the Consinucton of thie Contract or have any
binding legal eect.
cot imply ay acknowedgement or reponsiity on the part ot Witton of aby
the Company ast the vay fel or suey or
assignment Set Off: ome cr mca
The Company shal have the rh a limes ost of a
det, cbigatons orbit doy rong am be Buneas
Astodte on acount of gens / uses anoles eter
Acive or Tented and rete tough the Business
Assocte oF essgned by the company to. Buses
Asselin terms of pura ote Agearent oe
Company agin ery sum dv er oving fo the Buses
Assoc, and the sting of hal pt conto case of
sono
‘tel rom Business Assoc enters» et
cbgaton as spected heen ce othe Company.
4,
Whole Contract:
38,
‘This Contract and any attachments wich form apart of this.
Contract shall constitute the whole agreement between the
partes hereto. The company may fom time to time modi,
‘change oF discontinue either in part or in fl any of the
sschedule(s) that frm a part of this agreemet, with or without
‘iving prior notice tothe Business Associate andthe Business
‘Associate shall be automaticaly bound by such changed
‘schedule (6) ftom the effective date of such change(s) as
‘announced by the Company from time to ime. This Contract
‘supersedes ary other contact thot may have existed
between the Parties except for such nights and oblgations 2
‘would have accrued under those existing contracts til the
‘effective date of this Contract. Any other agreement between
the Business Associates ond the Company or any
‘amendment, modification or varation of such agreements,
‘hall only be efectve If such amendment, modification oF
‘ation is in wring and signed by the parties hereto.
Service of Notice
8,
‘Any notice given by either party hereto shall be deemed to 4s,
have been suffcenty given if ether writen
acknowledgement of receipt is given by the Business
‘Associate ori sent by Post / Courier to the last known
‘address of the Business Associate or the address as
‘appearing herein orto the registered oftce aderess of tho
‘Companys ofice as the case may be.
Governing Law
40
“This contract shal be constructed and governed by the Laws 46.
in force in Inds. Any aispue relating to this contract which
cannot amicably be seed by the pares herein shall be
‘referred to the juisdicion of the Competent Courts at
‘Mumbai, Headings:
‘Associate or its partners / propitr shall not be construed 35
‘2 waver of the Companys nights to terminate this Contract 47,
forth or purue any remedies avalebe to it under any
laws in force rom time to tie, or be consiued as consent or
emission granted t the Business Associate not to act in
accordance wit this Contact.
For WEALTHEXTRA
oll
Notwithstanding any cher term contained in this Agreement,
in no event shall Company shall be liable for any indirect,
Special, collateral, loss of profs, loss of goodwil, oF other
‘consequential loss or damage suffered or incured by the
Business Associate or any other person, even if advised
about
tho possibilty of the some, No thied party hall obtsin any
tights under this Agreement. Company has no lability or
‘oblgetions under this Agreement except ss expressly
‘mentioned In this Agreement.
inst the Company that any sums of money are TexLiabily
‘Business Associate shal rise commercial vai invace for
supply of services a agreed under the Agreement of
fennexure thereto within statuory time ond invoice format
proscribed undar applicable Goods and Service Tax Act or
Rules, The Company shall release payment within 20 (ity)
‘working days (working days as decided by Management of
the Company) from the date when such invoice parieulas
reflect in the GSTN, or any other online systeniportal
preserved under Goods and Service Tax Actor Rules.
“The Company shall pay Goods and Service Tax (GST) over
‘and above the consideration for supply af Services oly on
payment of such GST by the Business Associate to tox
fuhorties under the provisions of applicable GST laws and
fling ofthe applicable GST retum to enable the Company
‘val input tax erect on such GST payments, The Company
‘may on its discretion require appropriate evidence in support
Gf payment of GST and fling of GST retum by Business
‘Associate prior to payment of GST. GST amount charged in
invoice wil be subject to reccneiton from Government
portal (Form 2/V28) and same would be released only upon
‘conformity of said invoice wih detals avaliable on
‘Government portal (Form 24/28),
‘The Business Associate shall be soley lable forthe payment
ofa central, state and local levies, taxes, duties, fines and
penalties (inducing without mation goods and sence tx,
‘eles taxes, value added taxes, professional tax, excise
‘utes and customs dus, it any), by whatever name called,
1 may became due and payable in relation tothe supply of
Services and submission cf Statutory retums/statements as
per plicable laws as amended fom time to time.
‘The Business Associate shell Indemnity and hold the:
CCompeny ffee and harmiass from and against any and all
