
This Terms and Conditions define and establish certain principles to be followed by the Business Executive and the rights, duties, and responsibilities of each Business Executive.
In this Agreement, unless there is anything repugnant to the subject to contest thereof, the expressions listed below shall have the following meanings. The terms and expressions not defined herein shall have the meaning assigned to them in terms of the General Clauses Act 1897, and that interpretation and meaning.
The Business Executive agrees to abide by the following Duties, Terms and Conditions:
Duties and Taxes
The referral fee and payment to the Business Executive shall be as per the Fee Schedule published by the Company from time to time. The Business Executive shall not be entitled to any other sum or compensation in addition to the Referral Fee. Marshal fee and Life fee, if any payable, shall be at the sole discretion of the Company.
In no event shall either Party be liable to the other party for any indirect, special, incidental, or consequential damages, whether based on breach of contract, warranty, tort (including negligence) or otherwise, even if advised in advance of the possibility of such damage. Either party's total liability under this Agreement shall not exceed the referral fees paid and/or due from the Company.
The Business Executive hereby agrees to indemnify and keep the Company, its officers and directors, employees and its affiliates and their respective successors and assigns and each other person against any loss, liability, claim, damage and expense whatsoever (including, but not limited to, any and all expenses whatsoever reasonably incurred in investigating, preparing or defending against any litigation commenced or threatened or any claim whatsoever) arising out of or based upon any false representation or warranty or breach or failure by the Business Executive to any Party either express or implied in connection with these transactions.
This Agreement and the service of the Business Executive shall be governed by and construed in accordance with the laws of India. The Courts in the City of Chennai shall have exclusive jurisdiction.
It is hereby agreed that any dispute arising out of or in connection with this Agreement shall be subject to Arbitration. Mr. P.S. Prabu, Advocate, having office at No. 3, 6th Floor, Crown Court, No. 128, Cathedral Road, Gopalpuram, Chennai – 600 086, shall be the sole Arbitrator in the proceedings of such Arbitration. Any and all controversy(ies)/dispute(s)/difference(s)/claim(s) arising out of or in connection with or in relation to this Agreement, including its existence, validity or termination, during its subsistence or thereafter shall be settled by Arbitration in accordance with the provisions of the Arbitration and Conciliation Act, 1996 or any statutory amendments thereof and shall be referred to the above-said Arbitrator. The Award so rendered shall be final and binding on both the parties. The language shall be English, and the venue of such Arbitration shall also be decided by the Arbitrator.
The Business Executive hereby declares as follows: