Terms & Conditions :-
IN THESE TREMS & CONDITIONS "Stockiest" and "Principal" shall mean and include the Franchisee joining hereinbefore and OK LIFECARE PVT LTD, ROHTAK respectively which expressions shall mean and include their respective legal heirs successors, administrators, assigns, representatives, agents, etc etc
WHEREAS the "Principal" above-named is a manufacturer/ Marketer/ Trader/ Wholesaler/ Retailer of "OK LIFETM", "OLCTM", "YOUNG FEELTM" AND "NEEM FRESHTM" Brands of products with presence all over India and the "Stockiest" above-named has contacted the "Principal" for seeking stocking , pick up and selling rights and the "Principal" has accepted the offer, hence this deed.
- That the "Principal" above-named appoints the "Stockiest" above-named as Pickup centre.
- That this appointment is for a period of minimum 2 years from the date of execution of this agreement, unless modified otherwise.
- That the "Stockiest" will arrange, from its own resources, a suitable premises, hereinafter called the “Stock Point”, with adequate floor area, as per the requirements of the "Principal", owned or rented, for "Stocking" the products and for carrying on the business of the "Principal".
- That the "Principal" will stock the products/goods in the premises offered by the "Stockiest" and the "Principal" will have full lien, ownership, legal rights and title on the said products.
- That the "Principal" reserves its right to prepare any bill or invoice whatsoever after receiving the sale proceeds in advance and the "Stockiest" shall not remove any product without a proper bill/invoice provided to it by the principal.
- That the Stockiest will receive SPECIFIC PERCENTAGE OF trade discount on the listed Distributor’s Price mentioned in the Price List of the company, as in force from time to time.
- That the said "Stock Point" will be operated by the said "Stockiest" and all expenses including rent, salaries, wages, cartage, electric and water charges, local taxes, excluding GST, will be borne by the Stockiest out of the trade discount and the
"Principal" shall not in any way be liable to pay the same.
- That on termination of this agreement, proper accounts will be prepared and settled after physical verification and taking over of the stock by the "Principal". However the "Principal" will be at liberty to vacate the warehouse/godown/stock point premises as soon as possible only after making alternative arrangements for storing its stock.
- That the Stockiest will sell the material, from time to time, to the distributors/consumers, of the products of the company by prior deposit of the cost of the products, in the bank accounts of the company and only there after shall remove the said products from the stock point.
- That the "Principal" or its representatives and officials shall always be free to visit the "Stock Point" and do physical stock and accounts auditing.
- That the "Principal" shall refund the costs of such goods which reach close to the prescribed "Expiry Date", subject to the condition n that THE "Stockiest" will inform to the "Principal" at least 90 (Ninety) days prior to the date of expiry. No claim of refund, whatsoever, will be entertained by the "Principal", thereafter.
- That following will constitute breach of this agreement resulting in termination of this
- If the "Stockiest" is found to be storing or dealing with products of any other brand whatsoever without written consent of the "Principal".
- If the "Stockiest" is found to be promoting products of other brands.
- If the "Stockiest" is found to be indulging in any activity detrimental to the interests of the "Principal's" business.
- If the "Stockiest" is found to be working against and in violation of the instructions, policies and guidelines of the "Principal" provide to it from time to time.
- If the stocks have been removed from the stock point without prior deposit of cost of the products or if the stock is missing or found short during the stock/accounts audit.
- That with prior discretionary approval of the "Principal", a Stockiest can close his stock point and return the material to the “Principal’s" godown or a place designated by the "Principal" entirely at his own costs and risks. After proper accounting and physical verification of the stock so returned the "Principal" shall refund the costs of the goods to such Stockiest after the expiry of 180 days from the actual date of receipt of material.
- That if the "Principal" terminates this agreement for any breach, by the “Stockiest” as mentioned in para nine hereinabove, then the "Principal" will be entitled to recover any or all of the costs of the depleted or damaged stock in addition to monetary, goodwill or brand value losses suffered by it, from the Security Money deposited by the "Stockiest".
- That this agreement is governed under the provisions of the Sale of Goods Act, 1930, Indian Contract Act, 1872 and other Civil and Criminal Acts prevalent in the country from time to time.
- That disputes, if any, shall be resolved in accordance with the provisions of the Indian Arbitration and Reconciliation Act, as in force with legal jurisdiction of Rohtak, Haryana courts.