Direct Seller Agreement

Magneticlife Ventures Pvt.Ltd. - Direct Seller Agreement

Company may Direct Seller Agreement with the distributor on ground of any reason which shall not be limited to the following:

These Terms and Conditions are to be read together with the Company Policies & Procedures Handbook, DSOP (Direct Seller Orientation programme), Speaker guidelines, Magnetius Product Information and collectively they constitute a binding contract between MAGNETICLIFE VENTURES Pvt. Ltd (Company) and Direct Seller signing this terms and conditions.

Definitions:

1. Direct Seller: shall mean a person appointed by the Company on a principal –to-principal basis through this Direct Seller Contract to undertake sale, distribution and marketing Magnetius products and services and to register Preferred Customers. An MCV PVT.LTD. Direct Seller may introduce or sponsor another direct sellers and support them to build their direct selling business of Magnetius products & services.
2. Direct Seller Contract: shall mean and include the following:
i. The Direct Seller Application Form;
ii. These Terms and Conditions forming part of Direct Seller Application.
iii. The Magnetius Compensation Plan.
iv. The Policies and Procedures Handbook; as amended from time to time. The Company may notify any suchamendment on its website, www.MAGNETIUS.co.in

3. Territory: shall mean the Republic of India.
4. Effective Date: shall mean the date of submission of the duly filled Direct Seller Application, subject to approval by India MCA

Legal Requirement:

Applicant confirms that he/she is above the age of 18 years, of sound mind and not disqualified from contracting by any law. Applicant is entering into this contract with free consent after undertaking mandatory orientation session about direct selling and remuneration system of the Company.

Applicant must submit the following

1. Copy of the Government issued Identity Card
2. Copy of residential proof
3. Copy of Permanent Account Number (PAN) Card
4. Passport size photograph
5. Cancelled bank Cheque.
6. (Any of the following document could be furnished as proof of address; Adhar Card/Voter ID/DrivingLicense/Ration Card/Passport).

Distributorship/Direct Selling:

Magnetius appoints, without requirement/compulsion to buy the product, as of the Effective Date, the individual(s) identified in the above Direct Seller Application, or if applicable, the legal entity listed therein (the “Entity”), as a Direct Seller of Magnetius Products and services, and the Applicant(s) agree(s) to such appointment. As of the Effective Date and upon receipt ofordering information and completion of any required formalities, the Direct Seller may, on a Non-exclusive basis, within the Territory as may be communicated by the Company, and otherwise in accordance with the Direct Seller Contract, purchase Magnetius Products from the Company in order to sell distributer and market the same, and also register Preferred Customers.

Registration:

Company reserves the right, at its sole discretion, to accept or refuse any application. Magnetius do not charge any registration, joining or renewal fee. Upon acceptance the person will remain a direct Seller for a period of 12 months. To keep the Direct Seller status beyond this period the Direct Seller needs to demonstrate his/her activity during the past 12 months. Duration:

This Direct Seller Contract, shall remain valid and continue to remain in full force unless terminated earlier by either party with or without cause by giving notice according to the provisions given in Policies and Procedure Handbook.

Cooling Off Period:

Newly joined Direct Seller shall have a cooling off period of three (3) days to cancel the contract and receive full refund for any unused and unpacked Magnetius products purchased from Magnetius and such product or material is returned in saleable, marketable condition.

Commission or Incentives:

Commission or incentive to Direct Seller are paid solely based on the sale of products and no payment will be made only for recruitment of new Direct Seller. Company has right to adjust commission and bonuses paid on cancellation of Direct seller in the down line.

Magneticlife Ventures Pvt.Ltd. - Termination Policy

Termination of the distributor means termination of:

1. All rights and entitlements as distributor of the Company.
2. Identification as a distributor of the Company.
3. Right to go to any Company’s office and attend Companys’s meetings/seminars.

All Company’s trademarks, names, photos, literatures, customer data, etc shall remain the property of the Compny within 10 days of the termination he/she shall return all articles and infromations that may have handed over to him by the Company. He/she shall cease to use things entrusted to him/her by the Company.