The General Terms & Conditions (“GCTCs”) as mentioned below shall form part and parcel of the overleaf form filled (“Form”) by you and shall collectively be referred hereto as an Agreement between Frankart Global Private Limited, having its principal office at Cubicles Business Centre, A-117, Ist Floor, GD-ITL Northex Tower, Netaji Subhash Place, Pitampura, New Delhi – 110034, (from now on referred to as the “Consultant,” which term shall unless excluded by or repugnant to the context or meaning thereof, shall include its successors and permitted assigns) AND You the above said registered “Investor” which term shall unless excluded by or repugnant to the context or meaning thereof, shall include your successors and permitted assigns. We shall collectively be referred to as “Parties” and individually as “Party.”
1. Unless terminated earlier, this Agreement shall come into effect on the date of signing (“Effective Date”). It shall remain valid for 12 months from the Effective Date or until the Investor has selected and finalized the respective business/investment opportunity, whichever is earlier (“Term”).
2. The Investor makes the following representations and warranties to the Consultant:
(a) It has the power to enter into this Agreement and comply with its obligations under it;
(b) It has in full force and effects the authorizations necessary for it to enter into this Agreement and the transactions contemplated under it;
(c) The information provided to the Consultant does not contain any untrue statements or misrepresentation, or facts or omit to state any material fact that is required to be stated or intimated to the Consultant; and
(d) It has requisite financial stability and backup to carry out the investment/business opportunity selected by it from the options proposed by the Consultant,. Such funds have been obtained in compliance with applicable law.
3. The Consultant shall have the right to terminate this Agreement by giving a prior notice of 15 (Fifteen) days’, upon happening of the following events:
(a) If the Consultant finds that the Investor has furnished incorrect information to the Consultant; or
(b) If any of the representations and warranties are given by the Investor under this Agreement are violated or false;
4. The Investor acknowledges and agrees that the Consultant’s observation and recommendations under this Agreement are purely advisory and shall be restricted to Investor’s use only. Thus, the Investor must undertake its evaluation and due diligence regarding the potential business/investment opportunity proposed by the Consultant and seek its own fiscal, legal or financial guidance.
5. The Investor shall have no right to assign or transfer any of its rights or obligations hereunder without the express prior written consent of the Consultant. However, the Consultant shall be entitled to freely assign or transfer its rights or obligations under this Agreement with prior intimation to the Investor.
Consulting Fee: Upon execution of LOI (Letter of Intent) or Agreement or token cheque between the Investor (i.e. You) and the respective business prospect selected and finalized by the Investor, a non-refundable Servicing Fee (for each sign-up) shall be payable by the Investor to the Consultant which shall be 3% of the Total Project Cost/Capex and a one-time non-refundable Consulting Fee of INR 12000 + 18% GST applicable, to be given along with this form, which shall be adjusted in the total Servicing Fee received at the end of the service delivery.
Investor shall ensure to make payment of Servicing Fee (as mentioned above) within 07 (Seven) days from the receipt of the invoice for each separate sign-up. In the event the amounts payable under this Agreement remain outstanding for 07 (Seven) days after the due period, without prejudice, the Consultant shall be entitled to (a) suspend all services under this Agreement, and the same shall not amount to a breach of this Agreement by the Consultant; and (b) terminate the Agreement (if not expired already), and recover the outstanding amount along with interest at the rate of 18%.