Memorandum of Understanding Rules and Regulations for IBO of 11squarefeet ( Hence forth 11squarefeet. Will be addressed as 11sqft) :
1)IBO cannot Sell or Rent directly properties of Builder projects having agreement of association with 11squarefeet.
2) Person over 18 years can join as an IBO thru IBO Application, complete documentation, Joining Fees and approval from the director of the company.
3) All IBO dealing in property (Selling or Rental) as per 11squarefeet guidelines are eligible to receive defined commission (Commission Structures will be provided separately by 11squarefeet).
4) IBO will promote the products of 11squarefeet only while being associated with 11squarefeet.
5) IBO should ensure his full efforts and supports towards 11squarefeet.
6) If any IBO is found involved in anti 11squarefeet comments, Violation of rules and regulations of 11squarefeet , he / she shall be terminated or suspended, all authority towards the directors of 11squarefeet.
7) IBO shall abide by the amendment in the Rules / Regulations / Guidelines made by 11squarefeet from time to time.
8) Once any IBO is enrolled with 11squarefeet he / she cannot associate with any other group.
9) IBO is advised not to discuss regarding commission etc. with any other IBO or any other company, violation of this norm may attract termination or suspension without any notice.
10) Cheque or cash collected from the clients for the purchase of the property should be deposited in the 11squarefeet office on the same day.
11) Schemes and Layouts or any other property details should be well understood by the IBO.
12) Project details and training will be providing by 11squarefeet to the IBO time to time.
13) Any kind of changes in the Layout and Scheme details including Rate and commission will be communicated by 11squarefeet to the IBO.
14) IBO should keep himself updated about the units sold out or booked in any of the Layout or schemes of the projects associated with 11squarefeet.
15) IBO should not misguide the customers of 11squarefeet which would directly lead to termination or suspension of the contract without notice.
16) If 11squarefeet find any IBO is in anti activity, irregularity, or spreading negative word for 11squarefeet and so on then the complete powers reserved by 11squarefeet directors to remove the IBO.
17) The receipts towards the property booking or sale purchase or rent will be issued only by 11squarefeet, no IBO is authorized to issue the receipts directly.
18) In any case IBO should part his commission to the client as a discount or rate reduction.
19) Failure to achieve the target for a longer time may attract the suspension of support by the company with the decision completely with the Directors of 11squarefeet.
20) IBO are not authorized to collect Cash from the Buyer or customer directly, they are requested to bring the Customer to office to deposit the Cash and the receipt will be issued by 11squarefeet against the same.
21) IBO is not an Employee of 11squarefeet, an IBO is completely based on commission earned by him under the guidance and support provided by 11squarefeet.
22) IBO should not create any relations with the Employees of 11squarefeet which could directly lead to termination of the IBO as well as the Employee.
23) IBO by signing any document or contract, liability, dept cannot bind 11squarefeet in whatsoever way.
24) IBO does not have authority to sign any document on behalf of 11squarefeet.
25) 11squarefeet reserves the rights to amend and modify the commission structures of any individual IBO with respect to the business policies.
26) TDS will be deducted at the sources from the commission as per the Govt. Rules.
27) 11squarefeet reserves the rights to change the rates or offer discounts of any listed property without any prior notice.
28) All disputes will be first tried to be settle at the office of 11squarefeet and if not settled then shall be subjected to Nagpur Jurisdiction only.
29) An IBO can join or refer unlimited number of IBO under his MLM chain to form his own team.
30) IBO will also receive 15% of the revenue earned by the first downline under him only, IBO will also receive 10% of the revenue earned by his second downline under him only. The additional commission earned by the IBO will be maximum upto his 2(two) downlines. This chain revenue sharing will be transferred to the downline subject to only 2 (two downlines.)
31) IBO cannot refer or join his blood relatives directly under him without the permission of the person above his line and the Directors of 11squarefeet.
32) 11squarefeet reserves the rights to amend, modify or change any of the above mentioned clauses with respect to changes in Market conditions or Business policies without any prior
Notice. Declaration : I / We / am are applying for selling, marketing and promotions of 11squarefeet products as an IBO, I / We have read and understood all the rules and regulations and guidelines of 11squarefeet and shall act accordingly. I / We shall abide to all the amendments made by 11squarefeet from time to time.