ONE MAN ONE BRANCH TERMS AND CONDITIONS

The words You, Your, Channel Partner refers to the person(s) who becomes either a Super Channel Partner, Senior Channel Partner or Associate Channel Partner. By accepting these Terms and registering yourself as a member of Ayshwarya Syndicate Souharda Credit Co-operative Limited (“ASSCCL”), You agree to be the Channel Partner of ASSCCL for the sales and marketing of its Products as per these One Man One Branch Terms and Conditions (“Terms”). You agree that Your appointment is on non-exclusive and non-assignable basis. These Terms shall be in addition to and not in derogation of the Terms and Conditions and Policies (“Primary Terms”) of ASSCCL available at [insert].

 

  • Section A – SUPER CHANNEL PARTNER

Super Channel Partner shall be assigned with Promocode and have access to specific dashboard assigned to it through the Spark App and website which shall grant to it the following Authorization and permissions with respect to the information and data of the Members onboarded using Super Channel Partners Promocode:

Account Creations

  • Agent account creation – The Super Channel Partner can create accounts for various agents who will report to the Super Channel Partner, such agents will include Senior Channel Partner, and Associate Channel Partner. Agents will be provided with unique promo code linked to the Super Channel Partners account.
  • Customer creation – The Super Channel Partner can open savings accounts or business account for Customers using its assigned Promocode. The Super Channel Partner shall have the authority and access to accept, upload, edit Customer’s KYC information or any other information provided by the Customer subject to these Terms and approval by ASSCCL. Further, the Super Channel Partner shall comply with the Savings Account Terms available at https://assccl.com/terms-and-conditions-for-savings-account and Business Account Terms available at https://assccl.com/terms-and-conditions-for-business-account as the case may be.
  • Customer Fixed Deposit creation – The Super Channel Partner can create fixed deposit accounts for Customers using its assigned Promocode. The Super Channel Partner shall have the authority and access to accept, upload, edit Customer’s KYC information, the tenure of the fixed deposit or any other information provided by the Customer subject to these Terms and approval by ASSCCL. Further, the Super Channel Partner shall comply with the Fixed Deposit Terms available at https://assccl.com/fd-terms-and-conditions.
  • Customer RD creation- The Super Channel Partner can create recurring deposit accounts for Customers using its assigned Promocode. The Super Channel Partner shall have the authority and access to accept, upload, edit Customer’s KYC information, the tenure of the fixed deposit or any other information provided by the Customer subject to these Terms and approval by ASSCCL. Further, the Super Channel Partner shall comply with the Recurring Deposit Terms available at https://assccl.com/rd-terms-and-conditions.
  • Notwithstanding anything contained in the aforementioned Clauses above, no Customer will open an Account through the Super Channel Partner without the approval of ASSCCL. Further, the Super Channel Partner will not edit any information of the Customer, without the approval of ASSCCL.

Account Listing

  • Agent List- the Super Channel Partner shall have access to number of agents under the Super Channel Partner, and the transactions done by such agents.
  • Savings account listing- the Super Channel Partner shall have access to the savings accounts created by Super Channel Partner, the transactions made by Customers onboarded and the KYC details of the Customer.
  • Business account listing- the Super Channel Partner shall have access to the business accounts created by Super Channel Partner, the type of entity of the business account holder, the nature of the business, the transactions made by business account holder onboarded and the KYC details of the business account holder.
  • Term Deposits Listing – the Super Channel Partner shall have access to the fixed deposit and recurring deposit (“Term Deposit”) created by Super Channel Partner, the tenure of the Term deposit, the interest rate on the Term Deposits, the transactions made by Customers onboarded and the KYC details of the Customer.

Customer Services

  • Savings account standing instructions – The Super Channel Partner shall have the access and authorization to facilitate periodic scheduled payments for funds transfer from savings account to another savings account, from savings account to a business account, savings account or to other bank accounts. Additionally, the Super Channel Partner may have the access and authorization from a customer and ASSCCL to facilitate the setting up of an E-Mandate to facilitate regular standing payments between the customer’s bank account and the account held by the customer with ASSCCL for a predetermined period. In this regard, the Super Channel Partner will adhere to the instructions issued by ASSCCL and the E-Mandate Terms and Conditions available at https://assccl.com/emandate-terms-and-conditions.
  • Business account standing instructions – The Super Channel Partner shall have the access and authorization to facilitate periodic scheduled payments for funds transfer from a business account to a business account, from a business account to a savings account and from a business account to another bank account.
  • Bill Payments – The Super Channel Partner may also assist customers by providing bill payment services under such facilities as notified by ASSCCL from time to time. In such cases, the Super Channel Partner will ensure that he/she/they/it act in the best interests of the customer and ASSCCL by ensuring that bill payments facilitated by ASSCCL are done properly and promptly on behalf of customers. The Super Channel Partner will be required to adhere to the Billpay Terms and Conditions available at https://assccl.com/billpay-terms-and-conditions. The Super Channel Partner shall have the access to view the transactions, bill payment history made by Members onboarded by it.
  • Cash deposits facilities
  1. The Super Channel Partner may accept cash deposits from the Members onboarded by it, into their Accounts up to a maximum of INR 20,000/- (Indian National Rupees Twenty thousand only). No deposit in cash for less than INR 100/- (Indian National Rupees One Hundred only) will be accepted.
  2. The Super Channel Partner will deposit the cash received by the Member with ASSCCL on the same day upon receipt of the cash.
  3. Super Channel Partner will solely be liable, in the event Super Channel Partners fails to deposit the cash with ASSCCL. ASSCCL disclaims any and all liability relating to any transactions done using the cash deposit facilities.
  • Cash withdrawal facilities
  1. The Super Channel Partner shall provide the cash withdrawal facility to the Members onboarded by it. Such Member may withdraw money personally from their Account by approaching the using ASSCCL withdrawal form.
  2. A Member may withdraw a maximum of INR 20,000/- (Indian National Rupees Twenty Thousand only) in cash. The withdrawal of cash of less than INR 20,000/- (Indian National Rupees Twenty Thousand only) will be permitted.
  3. All cash withdrawals will be approved by the Super Channel Partner only after confirming the identity and signature of the Member.
  4. Super Channel Partner will solely be liable for any claim or disputes arising out of the Cash withdrawal facility. ASSCCL disclaims any and all liability relating to any transactions done using the cash withdrawal facilities.
  • Notwithstanding anything contained in the aforementioned Clauses above, under no circumstances will ASSCCL be liable to the Member or the Super Channel Partner and its agents for any indirect, incidental, consequential, special or exemplary damages in connection with the aforementioned transactions. The Member will be responsible for ensuring full compliance and entering correct information while doing any transactions using the Spark app.
  • The Super Channel Partner understands and agrees that ASSCCL will not be liable in any form or manner for any fraud, negligence, error, misconduct or any other act or omission committed by the Super Channel Partner or any of the Super Channel Partner’s agents that cause a loss or damage to a customer at any time. The Super Channel Partner will be solely liable for such loss or damage and the Super Channel Partner will indemnify ASSCCL in this regard.
  • Section B – SENIOR CHANNEL PARTNER

Senior Channel Partner shall be assigned with Promocode and have access to specific dashboard assigned to it through the Spark App and website which shall grant to it the following Authorization and permissions with respect to the information and data of the Members onboarded using Senior Channel Partners Promocode:

ACCOUNT CREATIONS

  • Agent Account Creation – The Senior Channel Partner can create accounts for Associate Channel Partner. Associate Channel Partner will be provided with a unique promo code linked to the Senior Channel Partners account.
  • Customer Account Creation – The Senior Channel Partner can open savings accounts or business account for Customers using its assigned Promocode. The Senior Channel Partner shall have the authority and access to accept, upload, edit Customer’s KYC information or any other information provided by the Customer subject to these Terms and approval by ASSCCL. Further, the Senior Channel Partner shall comply with the Savings Account Terms available at https://assccl.com/terms-and-conditions-for-savings-account and Business Account Terms available at https://assccl.com/terms-and-conditions-for-business-account as the case may be.
  • Customer fixed deposit creation – The Senior Channel Partner can create fixed deposit accounts for Customers using its assigned Promocode. The Senior Channel Partner shall have the authority and access to accept, upload, edit Customer’s KYC information, the tenure of the fixed deposit or any other information provided by the Customer subject to these Terms and approval by ASSCCL. Further, the Senior Channel Partner shall comply with the Fixed Deposit Terms available at https://assccl.com/fd-terms-and-conditions.
  • Customer recurring deposit creation- The Senior Channel Partner can create recurring deposit accounts for Customers using its assigned Promocode. The Senior Channel Partner shall have the authority and access to accept, upload, edit Customer’s KYC information, the tenure of the fixed deposit or any other information provided by the Customer subject to these Terms and approval by ASSCCL. Further, the Senior Channel Partner shall comply with the Recurring Deposit Terms available at https://assccl.com/rd-terms-and-conditions.
  • Notwithstanding anything contained in the aforementioned Clauses above, no Customer will open an Account through the Senior Channel Partner without the approval of ASSCCL. Further, the Senior Channel Partner will not edit any information of the Customer, without the approval of ASSCCL.

ACCOUNT LISTING

  • Agent List- the Senior Channel Partner shall have access to number of agents under the Senior Channel Partner, and the transactions done by such agents.
  • Savings account listing- the Senior Channel Partner shall have access to the savings accounts created by Senior Channel Partner, the transactions made by Customers onboarded and the KYC details of the Customer.
  • Business account listing- the Senior Channel Partner shall have access to the business accounts created by Senior Channel Partner, the type of entity of the business account holder, the nature of the business, the transactions made by business account holder onboarded and the KYC details of the business account holder.
  • Term Deposits Listing – the Senior Channel Partner shall have access to the Term Deposit created by Senior Channel Partner, the tenure of the Term deposit, the interest rate on the Term Deposits, the transactions made by Customers onboarded and the KYC details of the Customer.

CUSTOMER SERVICES

  • Savings account standing instructions – The Senior Channel Partner shall have the access and authorization to facilitate periodic scheduled payments for funds transfer from savings account to another savings account, from savings account to business account, savings account or to other bank account. Additionally, the Senior Channel Partner may have the access and authorization from a customer and ASSCCL to facilitate the setting up of an E-Mandate to facilitate regular standing payments between the customer’s bank account and the account held by the customer with ASSCCL for a predetermined period. In this regard, the Senior Channel Partner will adhere to the instructions issued by ASSCCL and the E-Mandate Terms and Conditions available at https://assccl.com/emandate-terms-and-conditions.
  • Business account standing instructions – The Senior Channel Partner shall have the access and authorization to facilitate periodic scheduled payments for funds transfer from business account to business account, from business account to savings account and from business account to another bank account.
  • Bill Payments – The Senior Channel Partner may also assist customers by providing bill payment services under such facilities as notified by ASSCCL from time to time. In such cases, the Senior Channel Partner will ensure that he/she/they/it act in the best interests of the customer and ASSCCL by ensuring that bill payments facilitated by ASSCCL are done properly and promptly on behalf of customers. The Senior Channel Partner will be required to adhere to the Billpay Terms and Conditions available at [insert link]. The Senior Channel Partner shall have the access to view the transactions, bill payment history made by Members onboarded by it.
  • Cash deposits facilities
  1. The Senior Channel Partner may accept cash deposits from the Members onboarded by it, into their Accounts up to a maximum of INR 20,000/- (Indian National Rupees Twenty thousand only). No deposit in cash for less than INR 100/- (Indian National Rupees One Hundred only) will be accepted.
  2. The Senior Channel Partner will deposit the cash received by the Member with ASSCCL on the same day upon receipt of the cash.
  3. Senior Channel Partner will solely be liable, in the event Senior Channel Partners fails to deposit the cash with ASSCCL. ASSCCL disclaim any and all liability relating to any transactions done using the cash deposit facilities.
  • Cash withdrawal facilities
  1. The Senior Channel Partner shall provide the cash withdrawal facility to the Members onboarded by it. The Member may withdraw money personally from their Account by using ASSCCL withdrawal form.
  2. A Member may withdraw a maximum of INR 20,000/- (Indian National Rupees Twenty Thousand only). The withdrawal of cash of less than INR 20,000/- (Indian National Rupees Twenty Thousand only) will be permitted.
  3. All cash withdrawals will be approved by the Senior Channel Partner only after confirming the identity and signature of the Member.
  4. Senior Channel Partner will solely be liable for any claim or disputes arising out of the Cash withdrawal facility. ASSCCL disclaims any and all liability relating to any transactions done using the cash withdrawal facilities.
  • Notwithstanding anything contained in the aforementioned Clauses above, under no circumstances will ASSCCL be liable to the Member or the Senior Channel Partner and its agents for any indirect, incidental, consequential, special or exemplary damages in connection with the aforementioned transactions. The Member will be responsible for ensuring full compliance and entering correct information while doing any transactions using the Spark app.
  • The Senior Channel Partner understands and agrees that ASSCCL will not be liable in any form or manner for any fraud, negligence, error, misconduct or any other act or omission committed by the Senior Channel Partner or any of the Senior Channel Partner’s agents that cause a loss or damage to a customer at any time. The Senior Channel Partner will be solely liable for such loss or damage and the Senior Channel Partner will indemnify ASSCCL in this regard.
  • Section C – ASSOCIATE CHANNEL PARTNER

Associate Channel Partner shall be assigned with Promocode and have access to specific dashboard assigned to it through the Spark App and website which shall grant to it the following Authorization and permissions with respect to the information and data of the Members onboarded using Associate Channel Partners Promocode:

ACCOUNT CREATIONS

  • Customer creation – The Associate Channel Partner can open savings accounts or business account for Customers using its assigned Promocode. The Associate Channel Partner shall have the authority and access to accept, upload, edit Customer’s KYC information or any other information provided by the Customer subject to these Terms and approval by ASSCCL. Further, the Associate Channel Partner shall comply with the Savings Account Terms available at https://assccl.com/terms-and-conditions-for-savings-account and Business Account Terms available at https://assccl.com/terms-and-conditions-for-business-account as the case may be.
  • Customer fixed deposit creation – The Associate Channel Partner can create fixed deposit accounts for Customers using its assigned Promocode. The Associate Channel Partner shall have the authority and access to accept, upload, edit Customer’s KYC information, the tenure of the fixed deposit or any other information provided by the Customer subject to these Terms and approval by ASSCCL. Further, the Associate Channel Partner shall comply with the Fixed Deposit Terms available at https://assccl.com/fd-terms-and-conditions.
  • Customer recurring deposit creation- The Associate Channel Partner can create recurring deposit accounts for Customers using its assigned Promocode. The Associate Channel Partner shall have the authority and access to accept, upload, edit Customer’s KYC information, the tenure of the fixed deposit or any other information provided by the Customer subject to these Terms and approval by ASSCCL. Further, the Associate Channel Partner shall comply with the Recurring Deposit Terms available at https://assccl.com/rd-terms-and-conditions.
  • Notwithstanding anything contained in the aforementioned Clauses above, no Customer will open an Account through the Associate Channel Partner without the approval of ASSCCL. Further, the Associate Channel Partner will not edit any information of the Customer, without the approval of ASSCCL.

ACCOUNT LISTING

  • Agent List- the Associate Channel Partner shall have access to number of agents under the Senior Channel Partner, and the transactions done by such agents.
  • Savings account listing- the Associate Channel Partner shall have access to the savings accounts created by Associate Channel Partner, the transactions made by Customers onboarded and the KYC details of the Customer.
  • Business account listing- the Associate Channel Partner shall have access to the business accounts created by Associate Channel Partner, the type of entity of the business account holder, the nature of the business, the transactions made by business account holder onboarded and the KYC details of the business account holder.
  • Term Deposits Listing – the Associate Channel Partner shall have access to the Term Deposit created by Associate Channel Partner, the tenure of the Term deposit, the interest rate on the Term Deposits, the transactions made by Customers onboarded and the KYC details of the Customer.

CUSTOMER SERVICES

  • Savings account standing instructions – The Associate Channel Partner shall have the access and authorization to facilitate periodic scheduled payments for funds transfer from savings account to another savings account, from savings account to business account, savings account or to other bank account. Additionally, the Associate Channel Partner may have the access and authorization from a customer and ASSCCL to facilitate the setting up of an E-Mandate to facilitate regular standing payments between the customer’s bank account and the account held by the customer with ASSCCL for a predetermined period. In this regard, the Associate Channel Partner will adhere to the instructions issued by ASSCCL and the E-Mandate Terms and Conditions available at [insert link].
  • Business account standing instructions – The Associate Channel Partner shall have the access and authorization to facilitate periodic scheduled payments for funds transfer from business account to business account, from business account to savings account and from business account to another bank account.
  • Bill Payments – The Associate Channel Partner may also assist customers by providing bill payment services under such facilities as notified by ASSCCL from time to time. In such cases, the Associate Channel Partner will ensure that he/she/they/it act in the best interests of the customer and ASSCCL by ensuring that bill payments facilitated by ASSCCL are done properly and promptly on behalf of customers. The Associate Channel Partner will be required to adhere to the Billpay Terms and Conditions available at [insert link]. The Associate Channel Partner shall have the access to view the transactions, bill payment history made by Members onboarded by it.
  • Cash deposits facilities
  1. The Associate Channel Partner may accept cash deposits from the Members onboarded by it, into their Accounts up to a maximum of INR 20,000/- (Indian National Rupees Twenty thousand only). No deposit in cash for less than INR 100/- (Indian National rupees One Hundred only) will be accepted.
  2. The Associate Channel Partner will deposit the cash received by the Member with ASSCCL on the same day upon receipt of the cash.
  3. Associate Channel Partner will solely be liable, in the event Associate Channel Partners fails to deposit the cash with ASSCCL. ASSCCL disclaim any and all liability relating to any transactions done using the cash deposit facilities.
  • Cash withdrawal facilities
  1. The Associate Channel Partner shall provide the cash withdrawal facility to the Members onboarded by it. The Member may withdraw money personally from their Account by using ASSCCL withdrawal form.
  2. A Member may withdraw a maximum of INR 20,000/- (Indian National Rupees Twenty Thousand only). The withdrawal of cash of less than INR 20,000/- (Indian National Rupees Twenty Thousand only) will be permitted.
  3. All cash withdrawals will be approved by the Associate Channel Partner only after confirming the identity and signature of the Member.
  4. Associate Channel Partner will solely be liable for any claim or disputes arising out of the Cash withdrawal facility. ASSCCL disclaims any and all liability relating to any transactions done using the cash withdrawal facilities.
  • Notwithstanding anything contained in the aforementioned Clauses above, under no circumstances will ASSCCL be liable to the Member or the Associate Channel Partner and its agents for any indirect, incidental, consequential, special or exemplary damages in connection with the aforementioned transactions. The Member will be responsible for ensuring full compliance and entering correct information while doing any transactions using the Spark app.
  • The Associate Channel Partner understands and agrees that ASSCCL will not be liable in any form or manner for any fraud, negligence, error, misconduct or any other act or omission committed by the Associate Channel Partner that cause a loss or damage to a customer at any time. The Associate Channel Partner will be solely liable for such loss or damage and the Associate Channel Partner will indemnify ASSCCL in this regard.
  • Section D – General Terms and conditions for channel partners

CONDITION PRECEDENT TO ENGAGEMENT AS A CHANNEL PARTNER

  • Channel Partner explicitly undertakes to becoming a Member of ASSCCL as a condition precedent to confirmation of his/her appointment as Channel Partner under these Terms.
  • Channel Partner agrees and acknowledges that the Channel Partner shall be fully compliant with the Know Your Customer Policy (“KYC Policy”) of ASSCCL available at [insert].
  • Channel Partner agrees and acknowledge that Channel Partner is a resident of Karnataka.

SCOPE, ENGAGEMENT & TERRITORY

  • You agree to that Your scope as Channel Partner shall be confined to the sales, and marketing of the Products of ASSCCL by referring Customers.
  • ASSCCL hereby authorizes You to be a channel partner of ASSCCL and hereby appoints You to market and sell the Products and to provide services to Customers in the areas of sales on a non-exclusive basis for Customers.
  • You hereby agree and acknowledge that such authorization and appointment as a channel partner is non-exclusive and on a principal to principal basis.
  • Each Customer who becomes a Member of ASSCCL through You by using Your unique Promocode shall entitle you for a referral fee (“Referral Fee”). The list of Products and the Referral Fee structure is described more fully under Annexure-A of these Terms.
  • You agree and acknowledges that such appointment to provide marketing services of the Products shall be restricted exclusively within the geographical territory of

ACCESS TO SPARK

  • You understand that ASSCCL may allot a separate access to personalized dashboard on Spark application and website to You, to onboard Members using a unique Promocode assigned by ASSCCL.
  • You agree that ASSCCL shall issue a unique Promocode, Member ID and password to You to access the personalized dashboard. Upon Your login You understand that You will be required to change such password assigned to You on accessing Spark app for the first time. As a safety measure You will change the password as frequently thereafter as possible.

SERVICES

  • You agree that ASSCCL can, at its sole discretion, withdraw any of the Products either wholly or partially at any time without giving You any notice.
  • You shall be entitled to solicit Customers for any of the Products of ASSCCL. You will not have the right to sign any document with the Customer, any such agreement entered into will be null and void.
  • You agree and understand that ASSCCL has the sole and absolute discretion to accept or reject any Customer’s application to become a Member.
  • In case the Customer does not become a Member, no Referral Fee will be paid to You. If a Customers membership is cancelled due to submitting of wrong, fake or incorrect documents then the Referral Fee, if already paid for that Customer shall be immediately refunded by You upon a request made by ASSCCL. You, may, by a written request to ASSCCL seek to adjust such Referral Fee amounts to be debited into Your account and adjusted against future transactions within the prevalent financial year. ASSCCL shall have the sole discretion to accept or reject such requests.
  • In the event of transfer of monies to any third party, You will ensure that there are no mistakes and errors and that the information given by the Member to ASSCCL in this regard is error free, accurate, proper and complete at all points of time.
  • You agree that ASSCCL is providing the Products at Your sole risk. You agree that ASSCCL will not be liable for any loss, damages or consequences whatsoever arising due to any erroneous or incomplete information provided by You or the Member or any delay in executing the instructions for reasons beyond the control of ASSCCL.

RESPONSIBILITIES AND DUTIES OF THE CHANNEL PARTNER

  • The Channel Partner shall at all times be compliant with all these Terms, Primary and other compliance requirements of ASSCCL.
  • Channel Partner shall market and promote to the best of his ability to onboard the Customers to enable them to avail ASSCCL’s Products, in compliance with the applicable laws.
  • The Channel Partner shall not offer any Products or services on its own accord.
  • Channel Partner participate in all ASSCCL related branding, promotions, and/or campaigns related to the Products.
  • Channel Partner will not access Spark app portal by any means other than the interface provided, and Channel Partner will not use Customer and/or Member information for any purpose other than the purpose for which it was made available. ASSCCL reserves the right to investigate and take appropriate legal action against the Channel Partner if in ASSCCL sole discretion, this provision is violated. The unauthorized and illegal use of Spark app is prohibited.
  • The Channel Partner shall only use the marketing materials provided by ASSCCL or otherwise approved in writing by ASSCCL for the purposes of selling, promoting or marketing the Products.
  • Channel Partner shall keep login credentials in strictest confidence, not reveal the password to any third party. Channel Partner will solely responsible for all use of login credentials.
  • The Channel Partner may have access to the transaction history, KYC details and other information of all the Member he/she brings on board. In the event any changes are to be done in the KYC details of such members, the Channel Partner shall notify and seek written approval of ASSCCL.
  • The Channel Partner shall act diligently in offering the Products of ASSCCL to the Customer and shall not do any such act that may harm the reputation of ASSCCL.
  • The Channel Partner will offer only those Products to the Customers, which are promoted or given in the Product broacher and or any other marketing material provided by ASSCCL to the Channel Partner.
  • The Channel Partner will explain the term and conditions of the Product and Services offered by ASSCCL before soliciting to the Customer as per ASSCCL’s instructions.
  • The Channel Partner will not accept any foreign currency or undertake cheque deposit and encashment of cheques.
  • In the event Channel Partner misrepresents or frequently represents to the Customer any information about Product or ASSCCL, then Channel Partner will be solely responsible for the same.
  • The Channel Partner shall always display that all applications to become Member are subject to acceptance by ASSCCL.
  • Channel Partner shall not enter into any agreements on behalf of ASSCCL, he/she shall make no warranty either expressed or implied on behalf of ASSCCL and shall not incur any expenses on behalf of ASSCCL.
  • The Channel Partner represents that it shall not collect offer interest rates on Products beyond the prescribed ceiling limit set by ASSCCL. ASSCCL shall in no way be liable to pay any interest beyond the interest rates fixed by ASSCCL to the Members.
  • The Channel Partner agrees that he/she will not pass or give any discounts in any form, either in cash or kind to the Customers.

RESPONSIBILITIES AND DUTIES OF ASSCCL

  • ASSCCL shall provide the Channel Partner with all data regarding the technical specifications and features of the Products.
  • ASSCCL shall provide the Channel Partner with marketing materials such as brochures and pamphlets which shall contain details of the Products offered by ASSCCL.
  • ASSCCL shall have the exclusive right over the Products and rate that may be subject to change from time to time.
  • ASSCCL shall provide the Channel Partner with login credentials/ access to the user portal dashboard on its Spark app.
  • ASSCCL will have an oversight of the Channel Partners activities and shall ensure that appropriate controls are incorporated into its system in order to assure compliance with these Terms and Policies of ASSCCL.
  • ASSCCL shall train the Channel Partners to enable them adequately to provide the Services, including training relating to the proper identification of Customers, Customer service, data protection and maintaining confidentiality, record keeping and financial education.
  • ASSCCL shall publish an updated list of all its Channel Partner on its websites and Channel Partner shall be disseminated to all of ASSCCL’S branches.
  • ASSCCL shall enter into a separate Channel Partner Agreement based on the hierarchy of the Channel Partner describing in detail the roles, responsibilities and duties of the Channel Partner.
  • ASSCCL shall assess the adequacy of controls of Channel Partner activities through regular audits.

SETTLEMENT OF TRANSACTIONS

  • All transactions conducted by a Channel Partner involving deposit, withdrawal, payment or transfer of cash from a Member to Members account or another account shall be on Real Time Transaction basis.
  • A transaction may be denied by ASSCCL in the event the Channel Partner accepts or withdraws an amount exceeding the daily limit allowed either on behalf of the Member or for itself. Such transactions exceeding the daily limits will deemed to be unauthorized transactions.

ADHERENCE TO ASSCCL TERMS AND CONDITIONS AND POLICIES

  • The Channel Partner and the Members onboarded by it, shall at all times comply with all of ASSCCL’s Primary Terms namely:
  1. KYC Policy available at https://assccl.com/kyc-policy
  2. AML and CTF Policy at https://assccl.com/aml-and-ctf-policy
  3. Chargeback Policy at https://assccl.com/chargeback-policy
  4. Privacy Policy at https://assccl.com/policy-policy
  5. Fixed Deposits Terms and Conditions at https://assccl.com/fd-terms-and-conditions
  6. Recurring Deposits Terms and Conditions at https://assccl.com/rd-terms-and-conditions
  7. Savings Account Terms and Condition at https://assccl.com/terms-and-conditions-for-savings-account
  8. ASSCCL General Terms and Conditions at https://assccl.com/terms-and-conditions

RISKS

  • You hereby acknowledge that You are availing the Products and services at Your own risk and ASSCCL will not be liable and/or responsible in relation to such risks. These risks would include but not be limited to the following risks:
  • Misuse of password- You acknowledge that if any third person obtains access to Your password, such third person would be able to provide payment instructions, transfer requests to ASSCCL. ASSCCL will not be liable and/or responsible in relation to such transactions.
  • Mistakes and errors – The filling in of applicable data for transfer of funds and/or availing of any products and/or services would require proper, accurate and complete details. You and/or Member will be required to fill in the account number of the person to whom the funds are to be transferred. You will agree take all care to ensure that there are no mistakes and errors and that the information given by You to ASSCCL and Spark in this regard is error free, accurate, proper and complete at all points of time.
  • Technology risks – The technology for enabling the transfer of funds and the other products and services offered by ASSCCL could be affected by virus or other malicious, destructive or corrupting code, programme or macro. It may also be possible that the website of ASSCCL may require maintenance and during such time it may not be possible to process the request of the Members. This could result in delays in the processing of instructions or failure in the processing of instructions and other such failures and inability. You understand that ASSCCL disclaim any and all liability, whether direct or indirect, whether arising out of loss of profit or otherwise arising out of any failure or inability by ASSCCL to honour any Member instruction for any reason whatsoever. You understand and accept that ASSCCL will not be responsible for any of the aforesaid risks.
  • Limits – You are aware that ASSCCL may from time to time impose maximum and minimum limits on transfer of funds that may be transferred, or amount of fixed deposits, recurring deposits, that can be issued. ASSCCL may impose transaction restrictions within particular periods or amount restrictions within a particular period or even each transaction limits. You will be bound by such limits imposed and shall strictly comply with them.

DISCLOSURES

  • The Channel Partner shall display in a conspicuous place on its premises the following:
  1. Name and the logo of ASSCCL;
  2. Products and Services of ASSCCL offered by the Channel Partner;
  3. The rate of interest, charges or fees applicable for each of the Service’s offered by ASSCCL; and
  4. A dedicated contact number and email id through which Customers can contact the Channel Partner.

 

MEMBER PROTECTION MEASURES

  • Channel Partners shall issue receipts for all transactions undertaken through them. ASSCCL shall provide Channel Partners with necessary tools that enable generation of receipts or acknowledgements for transactions carried out through the Channel Partners such as electronic receipts or hand-written receipts with the seal of ASSCCL.
  • A channel for communication of Member complaints to ASSCCL shall be provided. ASSCCL shall have dedicated customer care telephone numbers for lodging complaints by Member. The Members may also use this telephone numbers to verify with the ASSCCL, the authenticity and identity of the Channel Partner, its physical location of the Channel Partner and any other information.
  • The Members shall be made aware of the fact that they shall not carelessly store PIN and other critical information or share such information with other parties including Channel Partner.

INDEMNITY

  • You agree to indemnify and hold ASSCCL, its officers, employees, and nominees save and harmless against any and all liabilities, losses, damages claims, demand, suit or any action of whatever kind and howsoever; which may be commenced or threatened against ASSCCL or any of them in relation to services rendered through You, provided such actions arise in respect of the facts/details provided by You or if the same is in respect of the responsibilities attributable to You.
  • You agree that You shall, at Your own expense, indemnify, defend and hold harmless ASCCSL from and against any and all liability, any other loss that may occur arising from or relating to the operation or use of the Account or the services or breach, non-performance or inadequate performance by You or any of Members onboarded by You of any of these Terms or the acts, errors, representations, misrepresentations, misconduct or negligence in performance of Your obligations.
  • Under no circumstances shall ASCCSL be liable to You for any direct, indirect, incidental, consequential, special or exemplary damages in connection with the Account or the Products offered.
  • ASCCSL shall not be liable for any failure to perform any obligation contained in these Terms or for any loss or damage whatsoever suffered or incurred by the You howsoever caused and whether such loss or damage is attributable (directly or indirectly) to any dispute or any other matter or circumstances whatsoever.
  • You shall keep ASCCSL indemnified at all times against, and save ASCCSL harmless from all actions, proceedings, claims, losses, damages, costs, interest (both before and after judgment) and expenses (including legal costs on a solicitor and client basis) which may be brought against or suffered or incurred by ASCCSL in resolving any dispute relating to the Your Account with ASCCSL or in enforcing ASCCSL’s rights under or in connection with the Terms contained herein, or which may have arisen either directly or indirectly out of or in connection with ASCCSL performing its obligations hereunder or accepting instructions, including but not limited to, fax and other telecommunications or electronic instructions, and acting or failing to act thereon.
  • If any sum due and payable by You is not paid on the due date, including without limitation any moneys claimed under this Paragraph, You shall be liable to pay interest on such unpaid sum at such rate or rates as ASCCSL may from time to time stipulate from the date the payment is due up to the date of payment.
  • You shall solely be responsible for ensuring full compliance with all the all the FEMA rules, regulations or notifications thereunder, applicable laws and regulations in any relevant jurisdiction in connection with establishment of Your relationship with ASCCSL and for any/ all the transactions undertaken by You under the various Products offered by ASCCSL and shall indemnify and keep indemnified ASCCSL from all actions, proceedings, claims, losses, damages, costs and expenses (including legal costs on a solicitor and client basis) which may be brought against or suffered or incurred by ASCCSL in connection with any failure to comply with any such applicable laws/regulations.
  • You shall be solely responsible for any and all warranties or representations given by You to the Customers.
  • The indemnities as aforesaid shall continue notwithstanding the termination of the Account.

LIMITATION OF LIABILITY

  • Under no circumstances will ASSCCL be liable for indirect, consequential, special or exemplary damages (even if it has or should have been advised of the possibility of such damages) including, but not limited to, any loss of revenue, profits or data arising from or related to these Terms or the Products. In no event will ASSCCL be liable in any form or manner or to any extent (financial or otherwise), whether arising out of or in connection with or related to these Terms.

DATA PROTECTION

  • You agree to implement appropriate security measures to safeguard Personal Information of the Members.
  • You will not sell, share, rent, disclose or trade Personal Information with third parties.
  • You shall maintain strict confidentiality of all the Personal Information You may have access to. You shall neither copy nor reproduce nor allow third party access nor use the Personal Information for any other purpose except for the purpose of performing Your obligations under these Terms.
  • You agree to take due care to protect Personal Data of the Members and in case of any breach, You shall inform ASSCCL of the same. In the event of any cost involved to mitigate any such breach, the You shall be liable to bare such cost.
  • You agree that you will not permit any third party to access Personal Information of any Member and only authorized person will be allowed to access Personal Information. ASSCCL disclaim any and all liability whether direct or indirect, arising out of Your failure to comply with these Terms.
  • You shall ensure that the Personal Information is not used or permitted to be used in any manner incompatible or inconsistent with that authorized by ASSCCL. The Personal Information will be safeguarded, and You shall take all necessary action to protect it against misuse, loss, destruction, alterations or deletions thereof. Any violation of the same will be liable for action under the law, which shall entitle ASSCCL to claim damages apart from taking action under the appropriate law.

DISCLOSURE OF PERSONAL INFORMATION

  • You agree that ASSCCL, or its contractors may hold and process Your Personal Information on computer, mobile devices and any other hardware or otherwise in connection with ASSCCL’s Products and/or Services as well as for statistical analysis and credit scoring. You also agree that ASSCCL may disclose, in strict confidence, to other institutions, such Personal Information as may be reasonably necessary for reasons inclusive of, but not limited to, the following:
  1. For participation in any telecommunication or electronic clearing network
  2. In compliance with a legal directive
  3. For credit rating by recognized credit scoring agencies.
  4. For fraud prevention purposes.
  • ASSCCL will have the right to disclose your Personal Information in accordance with the Privacy Policy available at https://assccl.com/privacy-policy.
  • Each successful transaction will have a transaction reference number attached to it. The transaction reference number and the date, time, amount of cash instructed, and status of Your transaction will be disclosed to and used by ASSCCL for the purposes of:
  1. preparing reports;
  2. reconciling the number of successful transactions performed.
  • You undertake that You shall not use the Services and Personal Information for any improper purpose including but not limited to any form of data harvesting.

USE OF ASSCCL’S INTELLECTUAL PROPERTY

  • ASSCCL authorizes and permits You to use ASSCCL’s Trademarks, names, designs and logos and such use shall be solely and limited for the purpose of marketing the ASSCCL’s Products.
  • You acknowledge that the software underlying the Spark app as well as other internet related software which are required for accessing Spark are the legal property of the respective vendors. The permission given by ASSCCL and/or Spark to access Spark will not convey any proprietary or ownership rights in the above software.
  • You agree that You will not attempt to modify, translate, disassemble, decompile or reverse engineer the software underlying Spark application or create any derivative product based on the software.
  • You agree that You will not attempt to copyright, trademark, patent and/or impose any other form or registration or ownership over Spark or any component thereof.
  • Any unauthorized registration and/or use of a domain name bearing a prefix, suffix or variations, similar or deceptively similar to any of ASSCCL Intellectual Properties registered or otherwise and/or proposed project/project names by You would tantamount to an infringement of ASSCCL’s Intellectual Properties and in such event ASSCCL reserves its right to take appropriate action against You in accordance with law.

CONFIDENTIAL INFORMATION

  • You may gain access to information which may be obtained by means of written, oral or electronic communication about the business of the ASSCCL, and / or affiliates including business development strategies, know-how, processes and technologies financial details, confidential data and any other information which amounts to a trade secret, which is confidential or is commercially sensitive and which may not be readily available to others engaged in a similar business to that of ASSCCL or to public in general and which if disclosed may cause significant harm to the ASSCCL or any other Confidential Information.
  • You shall use the same degree of care in safeguarding the Confidential Information of ASSCCL as You would for Your own information which shall not be less than reasonable.
  • You shall not without the prior written consent of ASSCCL, divulge the aforementioned Confidential Information to any other person or use the Confidential Information other than for carrying out services as a Channel Partner under these Terms.

GOVERNING LAW AND DISPUTE RESOLUTION

  • These Terms and/or the operations of accounts of the Member maintained by ASSCCL through the use of the services provided shall be governed by the laws of the Republic of India.
  • You and ASSCCL agree to submit to the exclusive jurisdiction of the courts located in Bangalore, India as regards any claims or matters arising under these Terms.
  • All disputes arising between the ASSCCL and You shall be resolved by means of arbitration pursuant to the Arbitration and Conciliation Act, 1996. The arbitration will be conducted by an arbitral tribunal comprising of 1 (one) arbitrator appointed by ASSCCL (“Sole Arbitrator”). The seat of arbitration shall be Bangalore and the proceedings shall be conducted in English language. The award of the Sole Arbitrator shall be final and binding on the parties.
  • ASSCCL accepts no liability whatsoever, direct or indirect, for non-compliance with the laws of any country other than the Republic of India.

CHANGE IN TERMS

  • ASSCCL reserves the right to revise these Terms and Primary Terms at any time at ASSCCL’s sole discretion. ASSCCL shall notify the Channel Partner of such revised Terms and conditions within 45 (forty-five) days. Such revised Terms and Primary Terms shall then be binding on the Channel Partner.

GENERAL

  • The clause headings in these Terms are only for convenience and do not affect the meaning of the relative clause.
  • You will not assign these Terms to anybody else. ASSCCL may subcontract and employ agents to carry out any of its obligations under these Terms and Conditions.

DISCLAIMER

  • These Terms relate specifically to the Products offered by ASSCCL through the One Man One Branch Spark Application.
  • The Channel Partner further understands and agrees that these Terms must be read in conjunction with the other Primary Terms issued by ASSCCL.

DEFINITIONS

Account” refers to the Member’s savings and/or business account opened with ASSCCL through Spark application, to be eligible account(s) for operations through the use of Spark.

“Associate Channel Partner” An associate channel partner is an agent who does not delegate powers to other agents but assumes agency relationship by himself.

Channel Partner” means an individual who has been appointed by ASSCCL to become its non-exclusive sales representative in the specified territory.

Confidential Information” means any information disclosed by ASCCL to Channel Partner, or otherwise acquired by Channel Partner due to the relationship under these Terms or otherwise, which is marked “Confidential,” “Proprietary,” or which, would reasonably be expected to be confidential.

Customer” shall mean any person brought in by the Channel Partner to become a Member of ASSCCL using Channel Partners unique Promocode.

Member” refers to any person who owns a share of ASSCCL, who has an Account and has been authorised by ASSCCL to avail the Products.

Personal Information” refers to the information including but not limited to name, address mobile number, PAN, transaction details about the Member obtained in connection with the availing, use and/or closure of ASSCCL’s Products and services.

Products” shall mean the various features offered by ASSCCL on Spark App including but not limited to savings and/or business account and/or fixed deposit and/or recurring deposit account opened with ASSCCL through Spark application.

Promocode” shall mean the unique code assigned to each Channel Partner by ASSCCL;

Real-Time Transactions” shall mean the processing of payment instructions immediately s at the time they are received and not at later time.

Referral Fee” shall have the meaning assigned to it in Clause 6.4 of these Terms;

“Senior Channel Partner” A Senior channel partner is an agent that has been contracted by the ASSCCL and thereafter may hire and overlook over other channel partners including a Associate Channel Partner. Senior Channel partner shall retain overall responsibility of the Associate Channel Partner under it.

“Spark” means the mobile application ‘Spark IN’ available on IOS App Store and Google Play Store, owned, created and developed by Tecnovos Technologies LLP and licensed to ASSCCL;

Super Channel Partner” A super channel partner is an agent that has been contracted by the ASSCCL and thereafter may hire and overlook over other channel partners including a Senior Channel Partner and Associate Channel Partner. Super Channel partner shall retain overall responsibility of Senior Channel Partner and Associate Channel Partner under it.

 

ANNEXURE-A

LIST OF PRODUCTS AND REFERRAL FEE

 

Sl. no. Products Referral Fees
1. Opening of Savings Account At the discretion of ASSCCL and as communicated by ASSCCL from time to time
2. Opening of Current Account At the discretion of ASSCCL and as communicated by ASSCCL from time to time
3. Opening of a Fixed Deposit At the discretion of ASSCCL and as communicated by ASSCCL from time to time
4. Opening of Recurring Deposit At the discretion of ASSCCL and as communicated by ASSCCL from time to time