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Terms and Conditions for IPA:

The IPAN-World is a special purpose company inter alia engaged in the business of Real Estate and related services, hereinafter called ‘Company’.

An IPA is any person/organization/company that has registered himself/itself at WWW.IPANWORLD.IN to initiate the sharing of information provided there, and is willing to accept the terms and conditions as mentioned hereinafter.

1. DEFINITIONS AND INTERPRETATION

1.1. In this Agreement, except where the context otherwise requires, the following words and expressions shall have the following meaning:

1.2. Unless the context otherwise requires:

1.2.1. The words “include” and “including” are to be construed without limitation;

1.2.2. Words importing the singular include the plural and vice versa

1.2.3. Any reference to a statutory provision shall be deemed to include a reference to any rules or regulations there under and any statutory modification or reenactment thereto;

The terms “herein”, “hereof”, “hereto”, “hereunder” and words of similar purport refer to this Agreement as a whole.

2. SERVICES TO BE PROVIDED BY THE IPA
IPAN WORLD hereby engages IPA with effect from the registration date on

www.ipanworld.in

IPA shall have such responsibilities, duties, and authority as mentioned under and declared time to time by the company, and will be under direct control of the Company IPAN WORLD and IPAN Real Estate Pvt. Ltd.

3. REMUNERATION INCENTIVES

3.1 For IPAN WORLD as described in payment schedule of IPAN World payments section. All IPA will be eligible to get their payments into the bank account details they furnish in their details at IPAN World website. The same will be released the following month of the month it was accrued.

3.2 Payments are liable to be released by IPAN World after the respective builders release the same. However IPAN World shall be diligent in releasing the same in next month of its accrual on monthly basis.

3.3 In case of any cancellation of bookings done by IPA, the commission paid will be recoverable by IPAN World/IPAN Real Estate Pvt. Ltd., or the recoveries may be adjusted from the future payments to be made to IPA.

3.4 Other Compensation: IPA shall be entitled to reimbursement for all promotional contest prizes, redemption of E-Points, or any other rewards, awards, as and when they are declared, and the methods declared with them.

IPAN World awards E-Points on different activities done by IPA. These E- Points get accrued in IPA’s E-account which can be redeemed by way of methods declared by the company time to time in its declarations only if an IPA is ‘ACTIVE’.
An IPA is considered ‘ACTIVE' when any property either sells directly through him or indirectly through his reference. This ‘ACTIVE’ status remains so thereafter.
E-Points: The limit of redemption of these shall be as per terms and conditions announced by the company for the respective sales promotion. IPA can redeem E-points to purchase a property for oneself. The limit for redemption to buy property shall be decided and declared by the company and shall be as per governing terms and conditions for the respective property.
Car Fund: The fund accrued in the IPA car fund can only be used for purchase of car as per choice of IPA or any other vehicle as permitted by the company.

3.5 The above amounts payable to IPA are subject to the Tax Deduction at Source (TDS) provisions and other applicable taxes, if any, under the Income Tax Act, 1981 as applicable from time to time.

4. IPA’s REPRESENTATIONS

IPA hereby represents and warrants to the Company that:

He has signed at www.ipanworld.in as his free and voluntary act, after having determined that the provisions contained herein are of a material benefit to him, and that the duties and obligations imposed on him hereunder are fair and reasonable.
IPA shall not use any public platforms, Social Media, Advertisements, or any other methods to propagate/send invites to potential IPAs and Clients to buy properties except the communication methods provided at IPAN World. IPA needs to seek Company’s approval in writing before using any medium except provided at www.ipanworld.in.
The registration and sign-up by IPA does not conflict with, or result in a breach of, or constitute a default under, any agreement or contract, whether oral or written, to which IPA is a party or by which IPA may be bound.
He shall discharge his duties and responsibilities in a workmanship and professional manner. He shall not create or cause to create such circumstances by way of malpractices or any other means or modes, which leave the Company with no other option except to terminate his registration herein.
IPA also undertakes and warrants that he will abide by non-compete and non-solicitation provisions as enumerated below in this Agreement.

5. CONFIDENTIALITY

In view of the fact that during the term of IPA’s engagement, IPA will be in close contact with many confidential affairs of the Company and its affiliates and therefore, IPA agrees, accepts and recognizes that all information obtained or disclosed, including but not limited to all data, documents, applications, papers, statements, programs, plans and/or any other trade secrets, confidential knowledge or information of the IPAN World relating to its business, practices and procedures (hereinafter collectively referred to as ‘Information’) which may be provided or communicated by the IPAN World to an IPA in connection with this Agreement and/or in the course of his performance under this Agreement, shall be and shall remain the sole property of the Company and shall be of a strictly private and confidential nature and shall be treated as confidential by IPA.

During the term that IPA registration remains effective and thereafter, IPA shall not make use of any such Information for any purpose whatsoever which is not necessary for the discharge of its obligations with IPAN World. Any such Information not readily available to the public, and plans for future developments, IPA undertakes:

To keep secret all confidential matters of Company and its affiliates and not to disclose them to anyone, either during or after the termination of this Agreement, except with Company’s written consent; and
To deliver promptly to Company on termination of his registration, or at any time Company may so request, all memoranda, notes, records, reports, and other documents (and all copies thereof) relating to Company and its affiliate businesses which IPA may then possess or have under the IPA’s control. The obligations under this clause shall survive the termination or expiration of his registration.

6. TERM AND TERMINATION

These terms and conditions shall come into the force on the day of IPA’s Registration and shall be effective until its not terminated by company. The Company shall have a right to terminate IPA’s engagement herein with immediate effect in the event IPA commits any serious material breach, which is evidenced on record as accepted by both parties, of any of his obligations under this Agreement. In normal circumstances, either party may terminate this Agreement by giving 2 month written notice to other party. During the notice period, IPA shall perform the services in a manner as of his regular engagement.

7. NON-COMPETITION

During IPA’s effective registration period and even within one year termination thereof, he shall not engage, directly or indirectly, as an employee, officer, director, partner, manager, consultant, agent in any other capacity, in any competition with the Company or any of its subsidiaries.

8. Service Deficiencies by Consultant

It is further acknowledged and accepted that there shall be no service deficiency on duties rendered to IPAN World. In case management of IPAN World observes such deficiency then his association with IPAN World will be terminated with immediate effect and IPA shall have no right whatsoever to benefits, to be availed for his previous services given to IPAN World.

9. MISCELLANEOUS

Governing Law: This association shall be governed by and construed in accordance with laws of India (without reference to the rules of conflict of laws thereof). The Courts of competent jurisdiction at Delhi shall have the exclusive jurisdiction.

10. Arbitration and Conciliation: If any claim, dispute or difference of any kind whatsoever shall arise between the Company and IPA in connection with or arising out of this association including any question regarding its existence, validity or termination of the execution of this Association, whether before or after the termination, abandonment or breach of this Association (“Dispute”), the Parties shall seek to resolve any such dispute or difference by mutual consultation and negotiation in good faith. In the event, the Parties are unable to, within ten (10) days, reach a resolution, such Dispute shall be settled by binding arbitration pursuant to clause below.

The Dispute shall be referred to final and binding arbitration under the Arbitration and Conciliation Act, 1996, India. Such arbitration shall be held in Delhi. All proceedings of such arbitration shall be in the English language. A sole arbitrator shall be appointed by the Company. The award pronounced by the arbitrator shall be final, conclusive and binding upon the Parties.

11. Notice: Notice to the Parties shall be in writing and shall be sent at the Email /addresses first hereinabove mentioned. In case, there is any change in the addresses of a Party, the same shall be communicated immediately (not later than 7 days) to the other Party, failing which any notice sent to the earlier address of the said Party shall be deemed to be valid service of such notice.

12. Prior Arrangements: This engagement/Association supersedes and cancels any and all other prior agreements between the Parties, oral or written, express or implied, with respect to the subject matter hereof. This Association subjects to the terms and conditions mentioned herein sets forth the entire agreement between the Parties with respect to the subject matter hereof, and may not be modified or amended except by written agreement executed by the Parties hereto.

13. Amendment: Company is authorized to make necessary amendments time to time to help its business growth and otherwise. IPA is expected to keep himself abreast of any changes here.

14. Force majeure: No Party hereto shall be liable for any delay or failure in fulfilling the obligations hereunder when such delay or failure is caused by riots, war (declared or not), or hostilities between any nations; acts of God, fire, storm, flood or earthquake; strikes, labor disputes, shortage or delay of carriers, or shortage of raw materials, labor power or other utility services; any governmental restrictions; or any other unforeseeable contingencies beyond the control of such party; provided that due diligence is exercised to cure such cause and resume performance and the time for performance of such party shall be extended by a period of any such delay; provided, further, that such period of extension shall not exceed 90 days.

15. Waiver: The failure of any Party hereto to enforce at any time any of the provisions or terms of this Association, or any rights in respect hereof, or the exercise of or failure to exercise by any Party hereto any rights or any of its elections herein provided, shall in no way be considered to be a waiver of such provisions, terms, rights or elections or in any way affect the validity of this Association.