BASIS OF INSTRUCTIONS:
These terms constitute the basis for our understanding and are considered standard and no variation is binding unless agreed in writing between us.
1. The Services
Company hereby authorizes the Marketing Agent on a Non Exclusive Basis to represent itself as a marketing associate of the Company for selling all KG Projects. It is clarified and agreed by the Marketing Agent that the Company is free to appoint and/ or engage and / or receive services of other Marketing Agent/s providing similar services and/ or facilities during this appointment letter is in force and the Marketing Agents shall not claim any exclusivity on the basis of this appointment letter.
2. Functions and Duties of the Marketing Agents
The appointment requires the Marketing Agents to perform the following functions and duties:
1. To prepare, in consultation with the Company, suitable marketing program for the sales of the units in all KG Projects.
2. To advice the Company on the present Market situation and the positioning of all KG Projects.
3. Coordinating Site visits as and when required without any delay.
4. To actively market the units of all KG Projects, identify prospective buyers; conduct personalized mail shots, cold call campaigns.
5. To hold meetings with the Company at regular intervals after the signing of this Appointment letter and to update and give reports on progress of the Activities and Sales.
6. Whilst doing booking of an Apartment/Unit the Marketing Agent shall ensure that the Application Form is duly filled in by the customer and the Marketing Agent shall affix the stamp of its firm/company before submitting the same to the Company.
7. However, it is clarified and agreed by the Marketing Agent that all the aforesaid functions and duties shall be performed by the Marketing Agent on his/ its own cost other than its transaction fees mentioned in Clause No.4herein below and the Marketing Agent is not entitled to and shall not charge or claim any fees or expenses for performing the above functions and/ or duties.
8. All leads for KGF Properties shall be shared with KGF.
9. It is the Marketing Agents responsibility to ensure all data used by it is verified and true. KGF takes no responsibility to any discrepancies in same.
3. Support from KG Foundations Pvt. Ltd :
1. Marketing collaterals and presentations in KG format.
2. Offline support to the marketing team of the Marketing Agent in terms of project details and brochures.
3. Legal and administrative documentation for units sold by Marketing Agent.
4. Fee and mandate period :
This agreement shall commence on the date of this letter and shall remain in force for ONE YEAR the date of this letter.
1. In the event of any introduction made during the pre-launch / launch / marketing period which translate into a transaction before the expiry of this mandate, a transaction fee of 2% plus GST as calculated below would be payable to the Marketing Agent for marketing all ongoing projects
2. KG Foundations (P) Limited will pay the Marketing Agent, a transaction fee on the basic price of the unit (calculated as Super Built-up area of the flat * the sum of basic quoted price. The charges for all amenities, other charges, deposits, statutory charges, preferred location charges, floor rise charges, car park charges etc are excluded from such calculation.
3. The transaction fee includes all out of pocket and other incidental expenses that may have been incurred by the Marketing Agent, which include conveyance, travel, communications and other charges etc.
4. It is made clear that for a single client/sale of that only a single transaction fee can be claimed /paid.
5. Successful completion of the transaction is defined as the date on which registration is completed and the prescribed amount for the same has been received by KG Foundations (P) Limited, whichever is later.
6. Throughout the course of this transaction, KG Foundations (P) Limited expects the Marketing Agent to act on behalf of and in the best interest of KG Foundations (P) Limited and confirm that the Marketing Agent has no conflict of interest in accepting this instruction to market the said residential apartments for KG Foundations (P) Limited in the project.
5. Payment :
1. KG Foundations (P) Limited will pay the transaction fees to the Marketing Agent within 30 days on completion of registration or on receipt of the prescribed amount for the same, whichever is later. Invoice to be raised by the Marketing Agent accordingly.
2. In case of any cancellation of the apartments sold through the Marketing Agent, the commission to the extent paid for those apartments shall be paid back to KGF within 7 days of receipt of notice from KGF.
3. All rights reserved and terms of this letter including any dispute resolution will fall under the jurisdiction of Chennai courts.
4. In the event of any misunderstandings regarding any terms of this letter, the same shall be resolved by arbitration and conciliation provisioned by Arbitration and Conciliation Act of 1996.
6. General:
1. The Marketing Agent will maintain strict confidentiality with respect to all details regarding this agreement and acknowledges that the information provided by KGF relating to the project is kept confidential. Marketing Agent will not use confidential information except for the purpose of carrying out its function under this appointment and must not divulge the confidential information or details of sales to any third party without KGF’s prior written consent.
2. The Marketing Agent undertakes not to mention sale price in their website / other marketing collaterals. However, Marketing Agent can mention starting budget for each project with the term “conditions apply”.
3. The Marketing Agent undertakes not to poach direct enquiries and leads that come to KG Foundations (P) Limited.
4. The Marketing Agent undertakes to provide a single point of contact to KG Foundations (P) Limited.
5. The Marketing Agent shall not charge any fee from the prospective buyer. If collected, it will be deducted from the Marketing Agent fee by KGF.
6. Termination – This assignment can be terminated by either party within 15 days prior written notice to the other. The termination of this assignment shall become effective upon the date set forth in the said termination notice. Following termination, for whatever reason, the already accrued rights, liabilities and obligations of the parties shall remain enforceable within the date of termination.
We look forward to working together in these projects and towards a long standing business relationship.