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“RESIDUALINCOME Feeder Programme”
- INVESTOR AGREEMENT
PARTICIPATION IN THE ”RESIDUALINCOME Feeder Programme” HOME BASED BUSINESS IS TOTALLY OPTIONAL.
Applicant, when accepted, is called "Investor." Investor represents and warrants that Investor understands the marketing program and the compensation plan and is not relying on any representation or promise that is not contained in this Agreement or other official Company material be it printed media, video/audio media or any other form of advertisement/ promotion.
PROMISES BY INVESTOR:
”RESIDUALINCOME Feeder Programme” makes the promises contained in this Agreement and in other official Company material and no Investor are authorized to make any other promises to a prospective Associate. If Applicant relies on any promises made by an Investor trying to convince him or her to join their sales team that are not in this Agreement and/or official Company material, and that Senior Investor fails to keep any such promise, the Applicant shall only have recourse against such Senior Investor and not the Company. However, in such an event, Applicant is encouraged to file a complaint with the Company. Upon receipt of such a complaint, the Company will conduct such investigations as it deems necessary and, upon validation of such a complaint, impose appropriate penalties on the offending Investor. Such action however will not result in any recovery of damages by the Applicant, which the Applicant is free to seek against the offending Associate, not the Company.
INVESTOR RIGHTS AND RESPONSIBILITIES:
By applying to participate in the ”RESIDUALINCOME Feeder Programme” while you engaged in WorldDect, the user is also entitled to earn commission by promoting it to others, provided he/she understands and agrees to the Investor’s agreement. Investor understands that Investor will be bound by the terms hereof and that Investor will be entitled to participate as an Investor, upon acceptance of a valid application by ”RESIDUALINCOME Feeder Programme” , with a Business mode in our marketing plan.
INDEPENDENT CHANNEL PARTNER:
Investor agrees that Investor is an independent channel partner, called an "Investor," and will have no authority to bind the Company to any obligations. The relationship between Investor and ”RESIDUALINCOME Feeder Programme” is established only by this Agreement and Investor is not an agent, employee or any other legal representative of ”RESIDUALINCOME Feeder Programme” or its service providers. Investor is solely responsible for all self-employment taxes and any federal, state, local or other taxes that may be due as a result of consultant's business activities. Investor agrees to abide by any international, national, federal, state, provincial, county or local laws, rules and regulations pertaining to this Agreement. At Associate's own expense, Investor will make, execute and file all such reports and obtain such licenses as are required by law or public authority with respect to this Agreement.
POLICY/RATE CHANGES:
Investor agrees that ”RESIDUALINCOME Feeder Programme” may, from time to time with a general notice, change the marketing program, rates, prices and charges, or this agreement to be applicable to all Investors. If Investor chooses to remain in the program, Investor agrees to abide by those changes. Any such notice shall be deemed to have been given and received as of the day after such notice is posted on Investor's ”RESIDUALINCOME Feeder Programme” web site and/or the day the change is put on the Company's Conference Call, sent by e-blast, disseminated via Mail or other mode of mass communication. It is consultant's responsibility to stay abreast of developments communicated in this fashion.
CROSS NOMINATION:
Investor understands that cross nomination, cross selling and cross line jumping is prohibited in ”RESIDUALINCOME Feeder Programme” and may result in the imposition of penalty, as more fully set forth hereafter, but may include immediate termination of this Agreement. "Cross sponsoring" means soliciting Investor or any closely related person or entity into a team different from the existing team for that Investor. "Cross selling" means soliciting an Investor, except personally sponsored Investors, or a closely related person. "Cross line jumping" means an Investor or any closely related person or entity voluntarily taking a Business Centre that is not in the same team as the one in which the Investor first was enrolled. A "closely related person or entity" is any person in the household of the Investor (e.g. spouse, son, daughter, parent living in the same household) or any corporation, partnership, limited liability Company, trust or other legal entity, which is controlled by the Associate.
FILING COMPLAINTS:
If an Investor desires to file a complaint against another Investor for violation of this Agreement, please send an e-mail to us to get the procedures for doing so.
CONFIDENTIALITY AGREEMENT:
Investor understands that the ”RESIDUALINCOME Feeder Programme” marketing plan, his or her Matrix, Investor lists and official literature are proprietary information and are considered trade secrets of ”RESIDUALINCOME Feeder Programme”. Investor hereby agrees to not directly or indirectly disclose or use any of said confidential or proprietary information except to specifically promote Consultant’s independent ”RESIDUALINCOME Feeder Programme” business in accordance with the provisions of this Agreement. Investor further agrees that this provision shall survive the expiration or termination of this Agreement for a period of one year.
INCOME REPRESENTATION:
No one has made any promise or guarantee that Investor will derive any specific income or profit as a Consultant. Investor understands that any income Investor earns in ”RESIDUALINCOME Feeder Programme” is determined by consultant's personal activity as an independent channel Partner. Investor shall not make any income representations except those set forth herein or otherwise specifically set forth in official ”RESIDUALINCOME Feeder Programme” material. Investor also understands that the cycle payments as displayed in the site, is only an indicative of your earnings. Your cycle earnings shall fluctuate, over a period of time. All other promotional campaigns are only a supplementary income, and can be cancelled at any time without any prior notification to the user.
TRADEMARKS AND MARKETING MATERIALS:
Investor will not use the ”RESIDUALINCOME Feeder Programme” trade names and/or trademarks except to promote the ”RESIDUALINCOME Feeder Programme” business. In all such authorized use, Investor will make clear that Investor is an Independent Distributor. Investor and the advertising are the Investor's and not the Company's. Sales of marketing materials by ”RESIDUALINCOME Feeder Programme” is not commissionable. ”RESIDUALINCOME Feeder Programme” makes no warranty, express or implied, with respect to the use, efficacy or suitability for any purpose with respect to any such marketing material unless otherwise explicitly stated in writing in connection with the purchase thereof.
SALE OF BUSINESS NODE:
In order to maintain the integrity of the Company's sales organization, if Investor desires to sell a Business Node, the Investor must first offer it for sale in writing to the Investor immediate up-line from the Business Centre to be sold. If the up-line Investor declines to purchase the Business Node, the selling Investor is then free to sell the Business Centre to someone else, on the same terms and conditions as was offered to the up-line Associate. All such sales require the completion of a Transfer Form and payment of a transfer fee and must be approved by the Company. Sale of a corporation or other legal entity, which owns a Business Node, is hereby deemed to be the sale of the Business Node and is subject to the provisions above stated.
INHERITABILITY:
The ”RESIDUALINCOME Feeder Programme” Program/Business Node, like any other business or asset a Investor may have, is fully transferable in accordance with the terms of a Will, or, in the absence of a Will, it passes to heirs pursuant to the applicable interstate succession laws. For those Investors whose ”RESIDUALINCOME Feeder Programme” Business Nodes is/are owned by a corporation (or some other type of legal entity), there would be no change in the ownership of the Business Node upon the death of an owner of that corporation, etc. Ownership of the corporation would change by passing to the heirs, but the corporation would continue to own the ”RESIDUALINCOME Feeder Programme” Business Node.
Information from Investors :
All registration information provided by an Investor to ”RESIDUALINCOME Feeder Programme” must be accurate and complete. Investor must update and correct registration information if it changes. ”RESIDUALINCOME Feeder Programme” will bear no responsibility for any loss (moral, physical or financial or legal or any other kind of loss) caused by entering wrong information into registration form/ misrepresentation by Investors or any other person.
BILLING FEES:
Investor shall prepay fees for the ”RESIDUALINCOME Feeder Programme”, which is non-refundable three days after date of purchase. Investor shall not receive refunds for sites removed due to violation of this agreement or any other agreement applicable to its use. Investor agrees to maintain Consultant's account with ”RESIDUALINCOME Feeder Programme”, if any, in accordance with this Agreement and current rates and prices quoted. It is required that should you realize that your payments might be late than 15 days, you email to the Sales Department, notifying the reason for delay, and mode/particular of payment, if you have already dispatched. For all your correspondence with the company, please use your valid reference id number.
”RESIDUALINCOME Feeder Programme” shall have the right to disconnect service for non-payment of billing charges. However, all rights pertaining to accepting late payments are held by the company. The Company on its sole discretion may accept or reject anyone's application for the program.
SECURITY:
Each Investor must keep any ”RESIDUALINCOME Feeder Programme” passwords and other secure access information confidential and notify ”RESIDUALINCOME Feeder Programme” promptly if the Investor believes that the security of an account has been compromised. ”RESIDUALINCOME Feeder Programme” has taken reasonable steps to protect the security of online transactions. However, ”RESIDUALINCOME Feeder Programme” cannot and does not warrant such security and will not be liable for any losses or damages resulting from any security breaches.
Spam/Misuse of System:
Investor shall not engage in spamming in order to promote the Associate's business. "Spam" includes:
- (a) mass mailings akin to junk-mail, either to news groups or electronic mail or unsolicited commercial and/or informational email, including, without limitation, commercial advertising and informational announcements, sent to people not known personally, unless the recipients have expressly asked to receive email announcing programs of this type,
(b) mass or bulk (20 or more recipients) emails of any kind, unless the recipients have expressly asked to receive email pertaining to programs of this type, and
(c) a newsgroup article, or essentially the same article with small changes, posted an unacceptably high number of times to one or more newsgroups (content is irrelevant) or Usenet, chat room or message board postings that are unrelated to the topic of discussion of the particular news group, chat room or message board. "Spam" does not include responding to any message received by sending a message (even though not related to the received message) by use of the "Reply to All" or similar e-mail feature. "Spam" does not mean "ads." It doesn't mean, "abuse." It doesn't mean, "posts whose subject I object to." Sites may not contain or transmit any file or software with a virus or other contaminating or destructive features. No Investor may in any manner interfere with the content of other sites or the system. Sites may not use excess system resources or otherwise, in ”RESIDUALINCOME Feeder Programme” sole judgment, use resources in a manner that damages its system.
- Unsolicited Ads by Fax:
Investor shall not send unsolicited advertisements for the ”RESIDUALINCOME Feeder Programme” program or otherwise solicit related business by fax in violation of the local Authority Rules.
RESPONSIBILITY FOR INVESTOR WEB:
Materials included on web sites may include inaccuracies, errors, or out-and-out untruths. ”RESIDUALINCOME Feeder Programme” has no liability or responsibility for any content, including the quality, accuracy, completeness, legality, or usefulness of any information, product, service or process promoted on Investor web sites. In no event shall ”RESIDUALINCOME Feeder Programme” be liable for any claims or damages of any kind arising from the contents of associate's website. References in Associate's site to products, services, processes, hypertext links to third parties or other information by trade name, trademark, manufacturer, supplier or otherwise do not constitute or imply an endorsement or recommendation by ”RESIDUALINCOME Feeder Programme”. Product and service information is the sole responsibility of each individual site owner/user. Investors are solely responsible for compliance with laws governing the offering, sale, licensing, or other marketing and taxation of any products. On occasion, ”RESIDUALINCOME Feeder Programme” will undergo routine maintenance or experience unexpected technical problems. ”RESIDUALINCOME Feeder Programme” will make a good-faith effort to do maintenance as quickly and conveniently as possible, and to respond to technical problems promptly. ”RESIDUALINCOME Feeder Programme” may be required to access an Associate's web site from time to time to provide maintenance. ”RESIDUALINCOME Feeder Programme” will not in any circumstance be responsible for problems, losses, or damages arising from loss of connectivity; errors in content due to application problems; loss of access by Investors; or temporary or permanent loss of data.
INDEMNITY:
Investor indemnifies and holds ”RESIDUALINCOME Feeder Programme” harmless against all claims made by any third party, and any related damages and expenses (including reasonable attorney's fees), arising out of or connected with the Investor’s conduct, the associate's website or online store, the goods or service the Investor offers, or any violation of this agreement by associate.
LIMITATION OF LIABILITY:
”RESIDUALINCOME Feeder Programme” makes no warranties, express or implied, related to products or services supplied there under or, including but not limited to, warranties of merchantability and fitness for a particular purpose. ”RESIDUALINCOME Feeder Programme” will not be liable to any Investor for indirect, incidental, special or consequential damages, such as (but not limited to) loss of profits or business interruption, arising out of or connected to the use of, or inability to use, the “RESIDUALINCOME Feeder Programme” related services, products or marketing materials provided to any Associate. The total liability of ”RESIDUALINCOME Feeder Programme” for any and all damages arising from or connected with this Agreement, the "RESIDUALINCOME Feeder Programme" or the services, products or marketing materials provided to any Investor shall not exceed the total fees paid by the Investor to ”RESIDUALINCOME Feeder Programme”.
VOLUNTARY RESIGNATION:
Investor may voluntarily terminate this Agreement by sending written notice at any time for any reason. If Investor terminates this Agreement that Investor shall not be allowed to become Investor again for a period of six (6) months. If Investor re-joins on-line in violation of this policy then that Investor shall be terminated and Investor shall not be allowed to earn any commissions from the new position.
IMPOSITION OF PENALTY:
If Investor breaches any of the provisions of this Agreement, violates any applicable law or regulation or engages in any false, misleading or unfair trade practice, including, but not limited to, making misleading income representations or making promises to potential Investors that can not be kept by Investor (herein called "Violation") any such Violation is grounds for the imposition of penalty, as more fully set forth hereafter. The Company may suspend Associate, including suspension of checks earned at the time, pending investigation of any alleged Violation. Investor shall be given notice of the alleged Violation by e-mail, fax or other rapid method of communication and shall have seven days thereafter to respond in writing (verbal response will not be considered) to any alleged Violation (s), failing which, the Company can consider the allegations to be true. It is Associate's responsibility to see that Company receives the response, with supporting documentation, if any, within the seven-day period. If at the end of the investigation it is determined that Investor is to be penalized, the date of the imposition of the penalty can be, at the Company's option,
- the date of the penalty notice,
- the date of the notice of the alleged Violation,
- the date on which suspension, if any, occurred, or
- any other current date.
Incomes suspended and/or earned, if any, as of the date of a termination, shall not be paid. Any such payments not paid shall be deemed to be liquidated damages as payment of part of the damages suffered by Company for the Violation. Investor can request that any decision to impose a penalty be reviewed and supply any additional material that may bear on the matter in support thereof within seven days after notice of the penalty is given. Company shall then advise Investor of its final decision.
The Company shall have the option of imposing any one or more of the following penalties for Violations:
DISABLING OF BUSINESS NODE OF ASSOCIATE:
Denial or revocation of any achievement awards otherwise earned;
Denial of sales credit for sales that fall into the team of a cross-sponsored Associate;
Denial of credit for sales of multiple web sites due to falsely representing need for them;
Imposition of a fine in an amount to be determined by the Company;
and/or Termination of the Associate's Agreement.
JURISDICTION/VENUE:
This Agreement shall be construed and enforced in accordance with the laws of the The Seychelles without reference legal principles that would cause the law of another jurisdiction to be applied. Causes of action between the parties hereto of any type, whether based on this Agreement, on fraud or any other tort, or grounded in principles of strict liability or statutes of any kind, shall be heard exclusively in a court of competent jurisdiction in The Seychelles, each party hereby submitting to the jurisdiction of such courts and expressly waiving the right to bring suit in all other courts. In any cause of action the winner shall be entitled to recovery of all court approved attorney fees, court costs and other costs of the action.
OFFICIAL LANGUAGES/DEFINITIONS:
The English version of this Agreement, as maintained by ”RESIDUALINCOME Feeder Programme” is the official version and shall control over any other language version(s) which may be made available for ease of reference for some Investors. As used in the ”RESIDUALINCOME Feeder Programme” materials, when the term, "sell/ enrol" and words of similar import are used to describe the enrolment/ sales activities of Investor, this is an abbreviated reference to the promotional activities of Investor with respect to sales and it is understood that all sales are between the Company and the purchaser, not between the Investor and the purchaser. Likewise, when the term, "recruit" and words of similar import are used to describe the referral and recruiting activities of Investor, this is an abbreviated reference to the team building activities of Investor and it is understood that the agreement by which one becomes an Investor is between the Company and the recruited Investor and not between the new Investor and the referring Investor.
INCORPORATION OF AGREEMENTS:
If Investor has enrolled in a “RESIDUALINCOME Feeder Programme", the User Agreement and Acceptable Use Policy are incorporated herein as if fully set forth.
Entire Agreement:
This Agreement constitutes the entire agreement between the parties on the subject matter hereof, and no other additional promises, representations, guarantees or agreements of any kind shall be valid concerning such subject matter unless in writing and signed by an authorized officer of ”RESIDUALINCOME Feeder Programme” .
RESPONSIBILITY:
The ”RESIDUALINCOME Feeder Programme” is not responsible for the acts of its Investors under any circumstances for their wrongful and illegal activities.
Applicant Acknowledgement:
Investor acknowledges that Investor has read understands and agrees to the terms set forth in this Agreement. Investor understands that this Agreement is not in force until accepted.
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