Terms and Conditions

CONNECTOR AGREEMENT

This Connector Agreement (“CA”) is a legal contract between You (“CONNECTOR”) and AU Small Finance Bank Limited, having CIN no. L36911RJ1996PLC011381, a small finance bank duly incorporated under Section 22 of Banking Regulation Act, 1949 having its registered office at 19-A, Dhuleshwar Garden, Ajmer Road, Jaipur, Rajasthan, 302001 (hereinafter referred to as “Bank”, which term shall, unless it be repugnant to the context or meaning thereof, be deemed to mean and include its successors and permitted assigns).

WHEREAS:

This Connecter Agreement (“CA”) is for appointment of the CONNECTOR for providing Referral services to Bank from the date of Registration and until terminated by Bank.

Based on mutual discussions, following are the points of understanding between the parties:

• The Bank is inter alia carrying out business of sourcing Micro Business Loan (MBL), Home Loans (HL), Loan Against Gold (LAG) and Vehicle Loan and wants to appoint the CONNECTOR for providing Referral services for marketing its various financial products and schemes introduced from time to time in respect of sourcing Micro Business Loan, Home Loans, Loan Against Gold and Vehicle Loan.
• By way of this CA, the Bank hereby appoints the CONNECTOR as its marketing associate for providing leads or providing referral service to market the various financial products and schemes of the Bank relating to Micro Business Loan (MBL), Home Loans (HL), Loan Against Gold (LAG) and Vehicle Loan within the limits of Locations as communicated by the Bank time to time (hereinafter “Area”). This appointment is made on a non-exclusive basis, and the Bank is free to appoint other CONNECTORS at its sole discretion for the said Area.
• In the course of the CONNECTOR carrying out the activities as per this CA, the CONNECTOR shall be paid service fees as per https://www.au.bank.in/connector-payout-structure . The terms of payment may be changed from time to time, by mutual consent between the parties, and recorded in writing.
• The CONNECTOR shall perform the function of marketing financial products and schemes introduced by the Bank relating to Micro Business Loan (MBL), Home Loans (HL), Loan Against Gold (LAG) and Vehicle Loan strictly in accordance with the norms prescribed by the Bank from time to time.
• It is agreed by the CONNECTOR that the Bank shall have the sole and exclusive discretion either to accept or reject any of the proposals from the leads/references provided by the CONNECTOR for availing finance from the Bank. Such decisions of the Bank shall be final and conclusive.
• The CONNECTOR shall refer the customers for availing Micro Business Loan (MBL), Home Loans (HL), Loan Against Gold (LAG) and Vehicle Loan service from the Bank and shall coordinate with the assigned branch to materialize the reference by either meeting the customer directly or by directing the customer to the Bank branch (as per instructions of Bank). Reference of any existing customer, i.e., whose data is already available with the Bank or who has done transaction with the Bank shall not be treated as new reference and accordingly will not be eligible for any commission.
• All activities as specified with regard to the services that is to be performed by the CONNECTOR with regard to this CA, shall be with the prior written approval of the Bank.
• The CONNECTOR shall at all times abide by the duties and obligations as listed in this https://www.au.bank.in/connector-payout-structure
• The CONNECTOR shall indemnify the Bank against all losses but not limited to penalties, claims, demands, costs, charges, expenses, and damages that the Bank may incur or be put to by reason of entering into this CA with the CONNECTOR or because of the CONNECTOR violating or infringing any applicable law, regulation, bye law, confidentiality obligation or violating any terms and condition of this CA.
• In addition to above, the CONNECTOR shall indemnify to the amount of loss or damage incurred by the Bank for any operational loss which can be attributed due to willful and/or negligent activities of the CONNECTOR and for all acts on the part of the CONNECTOR that may cause any direct or indirect damage, loss or penal claim to the Bank. CONNECTOR confirms that for the purpose of providing the Services he/she shall have no authority to bind the Bank in any manner nor shall they represent themselves as agents of the Bank.
• The CONNECTOR may, with prior written approval of the Bank, inscribe in a plain text in his signage and/or promotional material, stating that it is engaged with the Bank as CONNECTOR for the purposes of this CA. However, the CONNECTOR shall not use the logo or any trade name or trademark/copyright or IPR of the Bank in any other form without taking Bank’s prior written consent.
• All information obtained by the CONNECTOR during the course of performance of its duties under this CA, whether expressly furnished to it by the Bank or otherwise, relating to the Bank’s customers or regarding its business, shall be treated as strictly confidential. The CONNECTOR shall be bound by the provisions of this clause during the validity of this CA and even after its termination and shall not disclose such information without a prior written approval of the Bank.
• During the subsistence of this CA, the CONNECTOR shall provide the customer proposals to the Bank for first right of review & refusal within an agreed period of time. CONNECTOR shall not share such proposals during this period of 60 (sixty) working days from the time a proposal is submitted with any other entity engaged in a business similar to that of the Bank or to a competitor of the Bank. The CONNECTOR shall be at liberty to offer such proposals to any other party upon expiry of the acceptance period of 60 days and on refusal of such proposal by the Bank.
• The Bank may terminate this engagement forthwith with written notice, if the CONNECTOR fails to perform its functions, duties and obligations as set out under this CA.
• On the termination of this CA , the CONNECTOR shall immediately return to the Bank with all the documents and relevant papers concerning the financial products and schemes of the Bank and all information, agreements, documents and papers lying with the CONNECTOR relating to transactions executed between the Bank and the customers of the CONNECTOR and give a written confirmation of it having so done within 24 hours of the same. On termination/expiry of this CA, any application/leads submitted by the CONNECTOR to the Bank prior to termination/expiry of this CA shall be processed by the Bank.
• In the event of termination/expiry of this CA, the Bank may withhold any payments to be made to the CONNECTOR in connection with any application of any customer, such payments being due to the CONNECTOR , till such time as the CONNECTOR deposits all Pre-disbursement Documentation and/or Post-disbursement Documentation concerning any existing customer(s) and/or potential customer(s) of the Bank with the Bank.
• Any and all disputes arising out of or in connection with this CA or its performance shall be referred to Arbitration by a sole Arbitrator to be appointed by the Bank. The arbitration shall be held, in Bengaluru in English, in accordance with the provisions of the Arbitration and Conciliation Act, 1996 and the award from such Arbitrator shall be binding on the CONNECTOR.
• Bank can add/modify existing terms from time to time and all such updated terms will be treated as part of this CEL and will be binding on the CONNECTOR.
• This CA is binding on the CONNECTOR and shall be enforceable in the court of Law. The Courts in Bengaluru shall have exclusive jurisdiction in matters of dispute with regard to this CA.
• CONNECTOR’S relationship with Bank will be that of an independent contractor sharing a principal-to-principal relation with each other and nothing in this CA should be construed to create or imply a partnership, agency, joint venture or employer-employee relationship with each other.
• The CONNECTOR shall not assign or subcontract any of its responsibilities contained in this CA to any agent, sub-agent or subcontractor without prior written permission of the Bank.
• The CONNECTOR shall not be a minor, nor of unsound mind and should perform his responsibility with the highest integrity. In order to fulfil the purpose of registration process, for the purposed of being registered as a CONNECTOR, one shall register oneself on the Mobile App and shall, for completing the said registration process: (a) correctly fill/enter all the information in the requisite fields/columns provided on the registration page of the Mobile App (“Registration Page“) or similar page; and (b) upload a photo of all the necessary documents as mentioned in the Registration Page or similar page as per the instructions provided therein (collectively, “Registration Process“). In the event, there is any change/modification/correction in the information uploaded on the Registration Page, the CONNECTOR shall, hereby undertake to update the information on the Mobile App or to the Bank within 7 (seven) days from the date of occurrence of such change/modification/correction.

For the purpose execution and commencement, the date and place of Registration in Mobile App shall be considered as the date and place of execution and commencement of this CA.

SCHEDULE-I

Duties and obligations of the CONNECTOR:

• The CONNECTOR shall understand the financial products and schemes of the Bank in order to be in a position to explain and highlight the beneficial aspects of the financial products and schemes to its customers.
• The CONNECTOR will have the option to refer the customer leads on the Bank provided mobile application which shall be then pursued by the Bank employees for closure.
• It shall be the endeavor and duty of the CONNECTOR to identify genuine customers based on the standards and norms prescribed by the Bank from time to time for availing of the financial facility from the bank under the schemes chosen by the customers.
• If the CONNECTOR willfully suppresses any information or conducts itself in such a manner to be guilty of inducing the Bank to accept any proposal for the ulterior benefit of the CONNECTOR, it shall be held liable for the loss caused to the Bank and it shall be open to the Bank to terminate this CA and take recourse to appropriate legal proceedings.
• The CONNECTOR shall not carry out any transactions in cash.
• The CONNECTOR shall under no circumstances either share in part or in full the commission received with the prospective customers nor will the CONNECTOR provide to the prospective customer any incentive either in cash or kind.
• The CONNECTOR shall not launch any promotion scheme pertaining to any product of the Bank.
• The CONNECTOR shall not accept any payments from customers of the Bank in the name of the CONNECTOR or in the name of its firm/employees/associates, such payments whether made by cheque or demand draft or pay order or in any other means.
• The CONNECTOR shall not make any statement/ representation / warranty/ promises or assurances on behalf of the Bank to its customers beyond what is contained in the brochures or catalogues setting out the financial products and schemes as issued by the Bank.
• If the CONNECTOR makes any false promises or gives any assurances or makes any representation which is not otherwise contained in the schemes circulated by the Bank and on account of such representation if the Bank suffers any damage, loss or is made to institute/defend any litigation, the CONNECTOR shall be bound to indemnify the Bank under such circumstances, for all the loss suffered or sustained and this indemnity by the CONNECTOR shall survive the termination of this Agreement. This is without prejudice to the other rights and remedies in law and/or contract of the Bank against the CONNECTOR.