Terms & Conditions

Subject to terms and conditions provided hereinafter, in consideration of service provided by the channel partner (“Channel Partner”) solely to Vascon Engineers Ltd. (“the Company”), the Company shall pay the commission to the channel partner:

For all purposes in this terms and conditions, the term a 'Channel Partner' means 'any person/ entity registered with RERA, who negotiates or acts on behalf of the Company in a transaction relating to dealing and disposing including allotment/assignment/ lease/leave and license/transfer/sale of the Company's immoveable properties including plots, apartments, commercial spaces, villas or villaments (“Residential Unit”), as the case may be, in a real estate project, by way of sale/ transfer/ allotment/ assignment/ leave and license/lease, with another person/entity of immoveable property including plot, apartment or building, and receives remuneration or fees for his/its services rendered as commission and includes a person/entity who introduces, through any medium, prospective buyers and sellers to each other for negotiation for sale or purchase of immoveable property including plot, apartment/shops/offices or building, as the case may be, and includes property dealers, brokers, middlemen by whatever name called.

The Channel Partner is registered before the RERA Authority and also possess with itself the Registration Certificate duly issued by the RERA Authority.

The Channel Partner shall quote his Registration Certificate number on all the documents relating to advertisement, marketing, selling or purchase.

The Channel Partner covenants that it shall provide assistance to the Company to enable them to exercise their respective rights and fulfill their respective obligations at the time of marketing and selling, purchase and sale of any plot, apartment or building, as the case may be and not involve himself in any unfair trade practices, namely:-

• Making any statement, whether orally or in writing or by visible representation which – - falsely or knowingly represents that services or amenities are of a particular standard or grade; - represents that the Company has approval or affiliation which such Company does not have; - makes a false or misleading representation concerning the services which the Company does not have;
• Permitting the publication of any advertisement whether in any newspaper or other media, of services that are not intended to be offered by the Company;
• Providing information or documents, to the buyer/ purchaser/s without permission of the Company

The Company shall firstly, register the Final Agreement/ Sale Deed with the prospective Purchaser/Client on receipt of 10% of the advance payment, and on receipt of the additional 10% of payment, the Company shall be paying the Brokerage Fees to the Channel Partner.

The Company reserves the right to decide the Brokerage Fees with respect to each project/ property/ parties involved, at its own discretion as it deems fit.

All the payments to the Channel Partner shall be made in the Indian currency after deduction of applicable taxes and through authorized banking channels only. Payments shall be subject to applicable Government law and regulations prevailing at the relevant time.

Each invoice shall be delivered to the address of the company, as specified by the Company, by courier or by hand delivery. Payment will not be released for any alternate payee or mismatch between Organization name and cheque favoring/Beneficiary name on invoice which was provided at the time of Channel Partner registration for individual proprietor, company or partnership firm.

Subject to the fulfillment of clauses herein the Fees will be released within 30 (thirty) working days of receipt of the Invoice by the Company. All payments are subject to deduction of tax at source.

If the booking of the unit is cancelled/terminated before 10% of Sale Value being paid by the Customer to the Company, despite execution of agreements with the Company, the channel partner shall be required within 15 (fifteen) days of such cancellation/termination, refund the whole or any portion of the Fees paid by Company for the sale of the unit. In the event that the Channel Partner does not refund the commission to the company, the company shall, without prejudice to its rights and remedies, be entitled to adjust/deduct such portion of outstanding refunds from the Fees payable to the Channel Partner by the Company in respect of any other Residential Unit. If the bookings of the unit is cancelled or terminated, in the discretion of the company, for any reason not attributable to the customer or the channel partner, the company shall remain liable to pay to the channel partner for the services rendered with respect to the said Residential Unit.

The Channel Partner is aware and agrees that as per Company policy a background verification of the Channel Partner through third party agencies and/or company employees will be conducted by the Company to verify and confirm the personal, professional experience information provided by the Channel Partner for the purpose of Channel Registration Form. In the event, it is brought to the notice of the company that any of the information provided by the Channel Partner is false, misleading, incomplete or incorrect, the Company, at its sole discretion, without prejudice to its other rights and remedies, be entitled to cancel the registration of the Channel Partner and all amounts due shall stand forfeited.

Company may terminate this Agreement upon notice in writing if, the Channel Partner is in breach of any material obligation contained in this Agreement, which is not remedied within 30 days of written notice from the Company so to do.

The Channel Partner agrees that he/they shall not disclose, divulge, reveal, report or use, for any purpose, any Confidential Information which the Channel Partner has obtained, except as authorized by the Company. This obligation will survive indefinitely upon termination of this Agreement.

All written and oral information and material disclosed or provided by the Company to the Channel Partner under this Agreement are Confidential Information regardless of whether it was provided before or after the date of this Agreement or how it was provided to the Channel Partner.

Upon the expiry or termination of this Agreement, the Channel Partner shall return to the Company any documentation, records, or Confidential Information which is the property of the Company.

The Channel Partner is not authorized to give any unauthorized statement and/or send any written communication pertaining to the Company, Vascon and/or its projects in any medium without the prior written permission and consent of the Company and any unauthorized statement and/or communication which is shared with a customer shall not be binding on the Company and the Channel Partner shall solely be responsible for any action, loss and/or damages that so arises due to any claims and/or demands by the customer. If any such instance is brought to notice of the Company, the Company without any prejudice to the rights and remedies of the Company, at its discretion reserves the right to suspend/cancel the registration of the said Channel Partner. This will also result in the forfeiture of all outstanding payments due (including commissions and other receivables from the Company) in addition to strict legal action by Company and other affiliate companies.

The Channel Partner shall make representations to a prospective customer/ client, only in accordance with the representations made by the Company on the RERA Website. Company shall not be liable for any other representation/s of whatsoever nature made by the Channel Partner and is not bound by the same . The Channel Partner agrees to indemnify the Company for i) the breach of any of Agent's representations and roles & responsibilities ii) claim on company by a third party, customer or client due to breach committed by Channel Partner iii) misrepresentation.

The Channel Partner is aware that as per the Company's policies, Fees shall not be payable for transactions where the Channel Partner himself (Individual & Sole Proprietor), Partners (Partnership Firm), Directors/Shareholders and/or Company of Channel Partner have applied for/purchased a unit/s in the project of the Company (or group companies) and accordingly the terms of payment of the brokerage under this Agreement shall not be applicable to such transactions. In the event, it is brought to the notice of the Company that brokerage has been claimed against the transactions, the Company without prejudice to its rights and remedies, shall be entitled to set-off, recover, withhold, adjust or reclaim any such payments due or paid to the Channel Partner under any transaction. The Channel Partner agrees not to raise any objection or make any claims regards to such adjustment/set-off and the claims, if any in, this regard shall be deemed to have been waived by the Channel Partner.

Channel Partner will be registered with only one Channel Partner registration of all the identities against one pan card. In case the Channel Partner is a company, they will need to submit a copy of PAN card, RERA Registration Copy, Names and Contact numbers of all the Directors of the Company, details of Shareholders, Certificate if Incorporation, Articles of Association and Memorandum of Association, Board Resolution in favor of the authorized signatory authorizing him/her to sign the Channel Partner Registration form. In case of the Channel Partner is a Partnership firm, they will need to submit a copy of PAN card of Partnership firm, Copies of the pan cards of all the Partners, Partnership Deed, Registration Certificate of the firm Partners resolution authorizing the partners to sign the Channel Partner Registration form.

The Channel Partner Name and Unique Identity need to be mentioned in the Company Application, Channel Partner authentication and Visit Form.

The company reserves the right, in its sole discretion, to unilaterally modify or suspend the Terms and Conditions of this Agreement and intimate the same to the Channel Partner by way of a communication in writing.

Company has not authorized any official, Channel Partner of the Company or any other individual to receive any amount in cash or kind on behalf of the Company towards any transaction as they may be and any transactions with the Company shall only be through authorized banking channels.

The Channel Partner understands that this does not create employer employee relationship between Channel Partner and the Company and for all purposes each party shall be treated as an independent contractor.

In the event of any dispute between the Channel Partner and the Company arising out of these terms and conditions with the Company including interpretation of terms and conditions shall be settled by the courts of Pune.

All costs, charges and duties, if any, including stamp duty arising out of this transaction shall be borne by the Channel Partner.