Finology Affiliate Program Terms
The Website www.finology.in and its sub-domains (hereinafter referred to as the “Website”, “Site” or “Platform”) are owned, managed and governed by Finology Ventures Private Limited (hereinafter referred to as “We”, “Us”, “Company” or “Finology”). Wherever the terms “You”, “Your” or “User” are used, it shall include any person whether natural or legal/juristic, including but not limited to any company, incorporation, association, partnership, proprietorship or group of individuals who wish to sign up as an affiliate of the Website. Collectively the User and the website or the Company may be referred to as the “Parties”.
The Company reserves the right to update, modify and change these terms as and when it desires. That, upon any update, modification or change being bought by the Company in these Terms, the Company shall inform the Affiliate of the same via electronic communication and the Affiliate shall be required to accept the said updated, modified or changed terms in order to further be in the Affiliate program with the Company.
Affiliate program does not form any kind of exclusive relationship between the Parties, nor does it mean that the Affiliate is only allowed to promote and/or market the Company’s services and products. The Company shall be at the liberty to enter into the same arrangement with other persons and/or firms.
That, the Company intends to rope in the Affiliates in its Affiliate Program wherein the Affiliates would receive a predefined referral fee as per the terms of the Finology Affiliate Program Agreement. The Affiliate upon successful execution of the said Agreement would be given his/her personal Dashboard (Account) on the Company’s Website i.e. www.finology.in and its sub-domains (collectively the Website).
Following are the terms that shall dictate the business relationship between the Parties:
- The Affiliate shall be tasked with promotion of the Company’s products and services for which he/she shall receive a referral fee stated in the relevant Agreement. The Affiliate shall be able to see certain links on the above mentioned dashboard allotted to them using which the Affiliate would be able to bring customers/users to the Website. The Affiliate would only be entitled to the referral fee for the customers/users who avail any of the services provided by the Company using the Affiliate’s links. The Company tracks the number of customers/users brought by the Affiliates using the said links only and hence it cannot determine as to who brought a particular client onboard who availed any of the Company’s services without using the Affiliate’s links and would be unable to pay to the Affiliate in such cases.
- Eligibility for Referral Fee: The Affiliate would be entitled to the referral fee only if the under mentioned conditions are fulfilled:
- The customers/users who visit the Website shall be considered to be brought on board by the Affiliate only if they visit the Website using any of the Affiliate’s links.
- Once a customer/user visits the Website, they must create a free account on the Website within 48 hours of visiting the Website for the Affiliate to be entitled to the referral fee.
- Further, the Affiliate would be entitled to the referral fee only if the customer/user brought onboard by the Affiliate avails any service or product (except Legal Agreements) offered by the Company within 30 days of creating the above-mentioned free account.
- Referral Fee Structure: The “Legal Agreements” service offered by the Company shall be outside the purview of the Affiliate Program i.e. the Affiliate would not be given a referral fee for any agreement that any of the customers/users brought on board by the Affiliate purchase and that “Legal Agreements” do not classify as a service for the purpose of paragraph 2.C of these terms.
That, the Affiliate would be entitled to referral fee as per the following structure:
- The Affiliate would be entitled to referral fee of 10% of the Company’s revenue before GST and referral payout made to the Affiliate on the services and products availed by the customer/user brought onboard by the Affiliate.
- The Affiliate shall also be entitled to referral fee as per the foregoing paragraph on any service or product availed by the said customer/user in future.
For better understanding, here is an example of the referral fee he/she would receive if a service costing INR 24,999 is availed by a customer/user brought onboard by the Affiliate:
So, the Service availed costs INR 24,999 (inclusive of GST @18%),
The price before GST would be INR 21,186 (inclusive of referral payout to the Affiliate), so, the actual amount to which the Affiliate is entitled would be –
21,186 * 10 = INR 1926
As per the Income Tax Act the Company is required to deduct 5% TDS on the amount it pays to Affiliates as referral fee and so, the actual amount that would be received would be 1926 – 96.3 (5%) = INR 1829.7/-
- The Affiliate is strictly and explicitly barred from making any demand, promises, representations or give any guaranties or warranties whether express or implied on behalf of the Company. The Company hereby expressly prohibits the Affiliate from acting on its behalf. The Affiliate shall be solely responsible for any false promises, representations, demands, guaranties or warranties made by him and shall be liable to compensate the Company and its employees, agents and other authorised persons etc. for any charges borne or losses suffered by them because of the same including reasonable attorney fees.
- The Company’s logo, design, tradename, marks and such things are under the sole ownership of the Company and its licensors and cannot be used by the Affiliate in any of their material without prior written permission from the Company.
Upon termination, the Affiliate shall not be entitled to bring on board any new customers/users and shall also be not entitled to referral fee for any service or product availed by his/her existing customers/users.