Customer Care

License Transfer Policy

 

LICENSE TRANSFER POLICY FOR INDEPENDENT BUSINESS OWNERS ASSOCIATED WITH THE COMPANY:

Life cannot be predicted and neither can we escape from death. And as Mitch Albom rightly said and we quote that “Death ends a life, not a relationship".

One's family- in every means is affected by the unfortunate demise of any family member both financially and emotionally.

 

We, (COMPANY NAME) are glad to have you associated with us. Your association with the Company is gladly appreciated. The Company is very much considerate about the well-being of the dear ones of the people associated with us, since the inception of our business this has been considered to be a vital part that needs to be taken care of and the Company is considerate about it. Every business activity took forward in order to help our families and in order to protect them against any financial distress after our unfortunate demise.

The Policy stated herein is regarding the conditions that might prevail where the Business License of the IBO is to be transferred to the nominee assigned by him/her at the time of enrolment with the Company as per the terms and conditions of this policy. Although the FCID of the Independent Business Owners is non-transferable to anyone.

Every IBO and their nominee should take care of the fact that they have requisite information on this policy as in the event of their unfortunate demise any/all claims will be dealt with or settled considering the provisions laid down under this Succession Policy ("Policy").

 

  1. APPLICABILITY
    1. The policy herein is strictly extended and should be followed by every Independent Distributor ('IBO'), in the event of his/her unfortunate demise, irrespective of the rank they hold in the Company. All the benefits associated with the business license (FCID), as applicable from time to time, are subject to the provisions of this policy and those benefits may be transferred to the assigned nominee of an IBO.
    2. The nominee’s entitlement for the business-related incentives shall be subject to the business incentive plan that is applicable from time to time and will be decided as per the rank held by the IBO at the time of his/her unfortunate demise.
    3. The Company on account of its sole discretion and as its goodwill gesture only took forth this unique endeavor in order to extend financial support to the nominee of the deceased IBO. Please note that an IBO or their respective nominees/ legal heirs cannot consider this to be an entitlement or legal right in order to claim this benefit.
    4. Any claim that might be raised under this policy will be settled or the decision regarding such claims will be taken by the Company and the same will be final and binding.
  2. ELIGIBILITY CRITERIA
    1. The IBO’s responsibility is to register their nominee at the time of registration with the company.
    2. The IBO whether new or existing have to make sure that the nominee details are updated with the company throughout their lifetime.
    3. The Customer Care of the Company shall be contacted at any time in order to update nominee details.
    4. The IBO FCID have to be active and operational at the time of the death which means that the IBO have made payments or any transactions before their death for a duration of 12 months.
    5. The company must not block the same due to any ethic or compliance issue notices against the FCID.
    6. Once the IBO is enrolled with the company, the IBO’s FCID should not be blocked or for that matter suspended for more than 2 times within their lifetime.
    7. No investigation should be pending by the company against the FCID at the time of their death.
    8. The benefit is extended to appreciate the sense of belonging as a goodwill, the company is not bound by any obligations to entertain any request made by the legal where the IBO has failed to register their nominee details with the Company during their lifetime.
  3. PROCESS FLOW
    1. The deceased IBO nominee is responsible for informing the customer care department of the company via call, email, chat or by a registered post, whichever is best within 90 days from the unfortunate death of the IBO with their FCID. No application shall be entered regarding application for License Transfer if the intimation to the Company is sent after the completion of the aforesaid period.

 

    1. The FCID of the deceased IBO will be blocked and the Company will ask for further documentation whatever is required for the nominee of the deceased to proceed further under this Policy.
    2. Below mentioned is a list of basic documents that the nominee of the deceased IBO shall be required to furnish to the Company:
    1. Death Certificate of the deceased IBO;
    2. A self-attested of nominee's Aadhar;
    3. A self-attested copy of the PAN card of the nominee;
    4. A self-attested copy of bank details- Cancelled cheque, Passbook, Bank statement of the nominee;
    5. Photograph of the nominee;
    6. Other such documents that may be required by the Company for any other internal processes applicable from time to time.
    7. Before accepting the request and transferring the existing     FCID to the nominee, the Company shall execute a requisite agreement with the nominee after complete verification of the details, and documents that were furnished by the nominee of the deceased IBO.
    8. After receiving the signed agreement, the FCID of the deceased IBO shall be mapped to the nominee of the deceased along with other associated benefits accrued date plus further business incentives shall continue to be paid to the bank account of the nominee, subject to the provisions of this Policy.
    9. The following 3 factors lay down the provisions that will govern the payments of all business incentives:
  1. Position or the rank that was held by the IBO at the time of his/her unfortunate demise.
  2. The Business incentives are subject to variation on the basis of an individual product purchase, sale performance perimeter of the downline Sales Network Team, and applicable business plan as amended from time to time.
  3. In order to be eligible for any business incentives, any prevailing conditions which were applicable for the deceased IBO shall also be required to be fulfilled by the nominee, post-transfer of business license to the nominee.
    1. As per the provisions of this Policy, License Transfer shall strictly be done once per FCID only to the nominee. It is to clarify that the subsequent License Transfer is not permitted in case of the death of the nominee.

 

  1. DISCRETION OF THE COMPANY
    1. The Company holds sole discretion for any decision with respect to the acceptance of any claim mentioned or derived under the provisions of this Policy.
    2. The Company holds exclusive rights to suspend or withdraw any benefits at any time without giving any prior notice.
    3. Any changes can be made by the Company whenever required according to its need and shall do the same as it reserves the right to do so at any time without any prior notice. In order to be updated and aware of any such changes, please make sure to visit the Company's website from time to time and go through the Policy carefully and periodically.

 

  1. JURISDICTION:
    1. In case of any dispute or differences that may arise on any matter under this Policy or regarding the interpretation of the provisions of this Policy shall be governed by the provisions of Indian laws and Dehradun court shall hold the utmost jurisdiction to entertain the same.
    2. The original English version of this Policy may be provided by translating it into other languages. It should exclusively be followed that the translated versions are for civility and office translation only and any party or anyone out of context has no right nor can a right be derived from such translated versions. Only the English language version to the extent permissible by law shall apply, prevail and be conclusive exclusively if any dispute pertaining to the contents of the translated version or any other translated versions of these Terms and Condition may arise.