Sunday, 31 July 2011

Where is the evidence that any so-called 'MLM' has been an authentic income opportunity?

As you know, I have recently been corresponding with a freelance British journalist who (after interviewing the smiling director of the so-called 'UK Direct Selling Association' and some smiling, high-level, non-salaried commission agents of so-called  'MLM' companies), wrote an article entitled 'direct selling offers a financial lifeline to the over-fifties,' in which she repeated the Utopian fairy tale that in recent years, increasing numbers of middle-aged Britons have supplemented their incomes by becoming distributors for direct selling companies and that it is possible (depending on the amount of time and effort invested) to earn up to £2000 (around $3000) per week as a distributor of 'Herbalife' products. 
For obvious reasons, this journalist (who specialises in personal finance and who has written a book on how to 'boost your income') has (so far) refused to accept the ego-destroying reality that she has been deceived by the de facto agents of racketeers and that, in turn, she has become the de facto agent of the same racketeers. To this evidently-proud young woman, it remains unthinkable that she could have been so comprehensively deceived, or that all so-called 'MLM/direct selling income opportunities' have been variations of essentially the same contagious lie which has been allowed to infect the minds of countless millions of people around the world for more than 50 years.

This journalist has, however, confirmed that, during the course of her research, she did not examine any quantifiable evidence in the form of audited accounts (particularly, income tax receipts) proving that any British non-salaried commission agent of any so-called 'MLM' company has ever received an overall financial benefit from regularly selling goods, and/or services, to the public for a profitThe journalist has rationalised her remarkable confession by stating that no one would disclose their audited accounts to a stranger. In reality, any UK citizen selling a traditional business is obliged by law to disclose the audited accounts of that business, because to withhold information in order to make money, is fraud which is a form of theft. 
Interestingly, the US Federal Trade Commission's Dept of Consumer Protection now advises US citizens who might be considering signing up for an 'income opportunity' to demand to see the income-tax receipts of any recruiter(s) claiming to have been making money from that 'income opportunity.' 
David Brear (copyright 2011)

CID to seek custody of speakasiaonline COO Tarak Bajpai

CID of Andhra Pradesh is contemplating to seek custody of Mr Tarak Bajpai, the Chief Operating Officer of speakasiaonline to interrogate him. Mr Tarak was detained by Mumbai police on Friday at Indore, Madhya Pradesh for his role in the alleged money circulation scheme.
The CID has already found that speakasiaonline has a strong base in Andhra Pradesh with more than 30,000 members for its pyramid scheme.
Investigations led by Mr Jitender, Inspector General of Police of CID, revealed several European connections of the company in the scam. The fraudulent company has already siphoned out Rs. 461 crore from India and Rs. 8 crore alone to ActieIndex of Netherlands. According to the CID, most of the money was sent to Singapore where Ms Harender Kaur, CEO of the company lives. The CID has frozen Rs. 134 crore in the Bank accounts of speakasia in Mumbai after the case was booked.

Saturday, 30 July 2011

Andrea Lucas has no response to the charge that she is a liar and charlatan


One of your readers, Amita, asks:
'On the club asteria web site this blog appears giving profile of Andrea Lucas. Is it all a lie? Andrea Lucas, PMD, MBA, CPA, CMC, former Director of the World Bank, published author and mentor, is founder and Managing Director of Club Asteria. Andrea has over 30 years experience in finance, management, consulting and international project development in developing nations. Andrea is a native of Austria, who immigrated to Canada as a young woman, where she learned first hand about the trials and tribulations of being a stranger in a foreign country. Now, this successful entrepreneur is ready to give back to the expatriate community to enrich the lives of the less fortunate.' 
Classically, what has been posted about Andrea Lucas (by Andrea Lucas and her associates) is not entirely false, but it is certainly not entirely true.  However, when the wider-picture is examined, this woman's impressive-looking profile is revealed as having been deliberately designed to give a false and misleading picture of her standing, character, background and achievements in order to shut down the critical and evaluative faculties of all casual observers. In reality, Andrea Lucas' profile (as it appears on the 'Club Asteria'Website), should be seen as being part of a pattern of ongoing major racketeering activity as defined by the US federal Racketeer Influenced and Corrupt Organizations Act, 1970.
As we have previously pointed out on Corporate Frauds Watch, Andrea Lucas, was never an Executive Director of the World Bank. She is, however, an Austrian-born accountant who has lately been listed as the owner of a private real-estate company with addresses in Washington DC, Virginia and Florida. Andrea Lucas worked at the World Bank HQ in Washington DC between 1979 and 1986, where she was one of countless employees who have been referred to (internally) as 'Departmental Directors.'
As for the letters after Andrea Lucas name:
- PMD means she is one of thousands of persons who betwween 1957 and 2005 attended a 2-3 month pay-to-enter Program for Management Development at the Harvard Business School.
- MBA (Master of Business Administration) is a N. American standard professional qualification held by many thousands of people.
- CPA (Certified Public Accountant) is a standard US professional qualification held by many thousands of people.
CMC (Certified Management Consultant) is a standard international professional qualification held by many thousands of people.
Despite her professional qualifications, Andrea Lucas has become one of countless self-styled 'mentors' who have all hit upon the profitable idea of writing essentially the same puerile book in which they all claim to know the exclusive secret of transforming the life of anyone. In brief, all these copy-cat authors pretend to have once been poor little failures, but they now pose as inhabiting a Utopian existence of happiness, health and success. In this way, countless self-betterment quacks have attempted to convince vulnerable individuals that the secret to achieving this Utopia, lies in 100% positive thinking and in removing all negative thinking from their minds. Obviously, this is a dissimulated program to stop people thinking critically. It is one of the oldest closed-logic tricks used by charlatans and tyrants. In simple terms, by making total belief a prerequisite of achieving a future Utopia, victims can be blamed for failure when they don't achieve Utopia.
Andrea Lucas is founder and Managing Director of 'Club Asteria'. In reality, this is the corporate front for a dissimulated, blame-the-victim, money circulation scheme presented as a 'Utopian income opportunity.' For the past couple of years, this shameful, international, cultic racket has been preying mainly on vulnerable Asian and African immigrants to Europe and N.America with whom Andrea Lucas has pretended affinity by stating that she 'is a native of Austria, who emmigrated to Canada as a young woman, where she learned first hand about the trials and tribulations of being a stranger in a foreign country.' It is, therefore, a sick lie to say that Andrea Lucas has over 30 years experience in finance, management, consulting and international project development in developing nations or that she is a successful entrepreneur who is ready to give back to the expatriate community to enrich the lives of the less fortunate.
In the adult world of quantifiable reality, Andrea Lucas is an absurd, but nonetheles abusive, charlatan whose multi-million dollar 'Club Asteria' racket is on the point of collapse and who now risks a long prison sentence.
Your free-thinking readers will observe that Andrea Lucas cannot offer even the slightest challenge to the accurate, deconstructed analysis of her hidden criminal objectives, posted on Corporate Frauds Watch.
David Brear (copyright 2011)  

Friday, 29 July 2011

speakasiaonline COO Tarak arrested

The Chief Operating Officer of speakasiaonline, Mr Tarak Bajpayi has been arrested on Thursday at Indore, Madhya Pradesh, India. The arrest shows that the investigation into the large scale fraud of speakasiaonline is going in right direction.
The police should also intensify the investigation and arrest more persons in this massive fraud. Corporate Frauds Watch is demanding the massive funds transferred from India by the fraudulent company should be repatriated immediately. It may be recalled that the speakasiaonline has already siphoned out several hundreds of millions from India to Singapore.
All these fraudulent companies encourage their members to recruit more and more members from their friends and relatives. Out of enthusiasm to earn more commission these members draw their own friends and relatives into the dragnet. The real problem surfaces once the chain breaks and people lose their money. They never trust their friends and relatives for causing financial loss to them. This mistrust seriously affects the social fabric of our society and it is more dangerous than losing money. No one trusts anyone.
My dear fellow humans all over world! Do not fall for the easy and quick money and lose your friends and relatives. 

Thursday, 28 July 2011

The 'Speakasiaonline' lie, is only part of the 'MLM/Direct selling' Big Lie

Peddling the Big Lie that 'MLM/Direct Selling (as it has been practised for 50+ years)' is an authentic 'income opportunity,' remains a largely-unrecognised, global criminogenic phenomenon. Yet again, the 'Speakasiaonline' version of this pernicious urban-myth, demonstrates why it is almost a complete waste of time and resources trying to deal with 'MLM/Direct Selling' racketeers on a case by case basis.  
I look forward to the day when a majority of judges, legislators, law enforcement agents and journalists around the world, finally wake up and face the brutal reality that each time one of these so-called 'MLM/Direct Selling' companies has been rigorously investigated by well-informed and honest persons who have applied a modicum of common sense, it has been discovered that effectively none of the so-called 'MLM/Direct Selling Company's' constantly-churning, non-salaried commission agents has ever received a net financial benefit from regularly, directly selling goods, and or services, to the public for a profit.
The fact that all around the world, countless, inflexible charlatan-bosses of these essentially-identical fake 'income opportunities' are still allowed to label their absurd criminal activities as 'MLM/Direct Selling,' has been a shameful reflection on the incapacity of a majority of judges, legislators, law enforcement agents and journalists to apply common sense and ignore anecdotal evidence, or to recognise that we've all been victims of the 'MLM/Direct Selling'  Big Lie and that the longer this lie has been allowed to survive: the bigger and more contagious it has become.
As we have often pointed out before on Corporate Frauds Watch, the weasel-faced 'Nazi' propaganda Minister, Joseph Goebbels, is supposed to have said: 
“If you tell a lie big enough and keep repeating it, people will eventually come to believe it. The lie can be maintained only for such time as the State can shield the people from the political, economic and or military consequences of the lie. It thus becomes vitally important for the State to use all of its powers to repress dissent, for the truth is the mortal enemy of the lie, and thus by extension, the truth is the greatest enemy of the State.” 
It is, therefore, rather appropriate that, although this is a perfect, concise explanation of how the 'Big Lie' works, there is no quantifiable evidence that Joseph Goebbels actually made this statement. Indeed, just a moment's thought reveals that Herr Goebbels (whose role was to stop people from thinking) is probably the last person to have made such a thought-provoking confession. 

David Brear (copyright 2011)

Wednesday, 27 July 2011

Red flag waved at speakasiaonline in Andhra Pradesh High Court

The online racketeer speakasiaonline suffered a severe set back on Monday after the Division Bench of the Andhra Pradesh High Court set aside the order of the single judge who issued a stay order in favour of the company.
The State Government preferred an appeal to the Division Bench stating that the fraudulent company had already transferred about Rs. 500 crore to Singapore and it is about to transfer as much amount soon.
It may be recalled Corporate Frauds Watch filed a criminal case against speakasiaonline and the CID of AP launched a massive investigation into the multi-billion rupee fraud.
However, the Division Bench allowed the petition of the company, Haren Ventures Pvt Ltd. The State Government had recently issued an order freezing the bank accounts of the company. Aggrieved by it, the company approached the High Court and a single judge bench granted stay on the order.The Government preferred an appeal against it before the Division Bench headed by the Chief Justice Nisar Ahmad Kakru.
The Advocate General, Mr A Sudarshan Reddy, presenting the facts before the Bench, said the company had a scheme of circulation e-magazine which was a veiled money circulation scheme and multi-level marketing which was banned under the Prize Chits & Money Circulation Schemes (Banning) Act, 1978.
He pointed out that the company had already transferred Rs. 500 crore and another Rs. 500 crore would be transferred to the Banks in Singapore if the order of the single judge was allowed to operate. 
Mr Reddy said that there were a number of cases registered in Vijayawada against the company and if the Bank account was not frozen the investigation would be hampered.
While allowing the appeal, the Bench set aside the order of the single judge and remanded the matter to the single judge with a direction to dispose of the case within two weeks.

Saturday, 23 July 2011

Attention Cellular Phone Users all over India!

Corporate Frauds Watch, is announcing the inauguration of a blog for redressal of grievances of the cellular phone users all over India.
The aggrieved consumers may contact us through this blog whatever problems they face while utilising their services of service providers. We take up the problems to the notice of service providers and see to it they are solved at an early date.
Many a time, mobile service providers take the consumers for a ride offering value-added services without their consent. The consumers are not even aware what happened to their money. Some service providers deduct the amount from the pre-paid services without even informing them.
For instance, Tata Docomo once sent through SMS some value-added service and if the consumer did not want the service they could send an SMS by stating unsubscribe. Many customers are not even aware that they have received such an SMS. The company deducted Rs. 10 from the pre-paid amount and the consumer is clueless as to what happened to his/her money. Several hundreds of thousand of consumers lost money. 
If you have any such grievances kindly inform us quoting your name with full address, the name of service provider and your mobile number. We take up the issues with the service providers and get it redressed.
If necessary, the issue would be taken up with the Telecom Regulatory Authority of India (TRAI) and get the service provider pulled up.
We once again welcome you to

Friday, 22 July 2011

NMart is one of the biggest indigenous frauds

One of our readers Mr Arun writes:
Dear Shyam garu,
I appreciate your struggle against MLM is good and nice. Here is the MLM,  NMart fraud. 
The chairman of NMart is  Mr.Gopal Shekhawat, chairman of  Asia Region of Internatinonal Human Rights Association.
The membership of this human rights association is available for Rs 5000, keeping this label this NMart is cheating people.,
Being chairman of IHR Association, he is cheating people with fake promises.
NMart is fooling people. 
We joined NMart without knowing this long term long fraud. They said that they would give Rs. 220/- vouchers for redemption at NMart stores for getting products, as of now it is going well and good. They said that they will give Rs 11,000 as royalty bonus and for that they would send bonds for Rs 11,000/- to all  upline members.
But for many they stopped sending bonds, what is the guarantee for money, In india MLM is not legal I know, but, at least if we buy food from a small road-side hotel they give a bill on a paper, but, what about this company.
Many lakhs have not received the bond or agreement form the company, for 11,000. 
Now when we ask they say that there is scarcity of bonds with government. Ok, we agree. The company has to  give an agreement on a bond paper but  the customer care says that they will  pay 11000 after 4 years. 
Moreover, the company is asking us to take printout of the agreement form from their website.
How will a printout from a website be a legal document?”       
Whatever cyber law is applied it is not valid in a court of law,
How is it legally valid what we have taken from the Net, it is not valid as anyone can make modifications from the Net.
Why can't the company send printed  agreement of the promised Rs 11000 and next the company made an advertisement in the website saying that the associate who 
joined the company before March 31 will get Rs. 11000 at the end of 4 years and no compulsory purchase is needed.            
In the agreement what they put in the Net is like this:
7. Independent Business Associate who has a purchase account of less than 48 months will not get loyalty bonus.
Actually the company got 42,000 joinings in a single day on March 31 as they gave an offer saying that no need of purchase for an associate  who has joined before March 31, others have to purchase products worth 72,000/- within 4 years for getting this bonus of 11,000.
Now they changed their promise and they print in the e-agreement in the website of associate login saying that “Independent Business Associate who has a purchase account of less than 48 months will not get Loyalty bonus.
Is this not a cheating?

Cheating of NMart as of now..

1 .Promised that they will pay Rs 11000 without purchase of products in NMart for associates who joined in January 2011 to March 31, 2011. But they say that each associate has to purchase products if they have a mall of NMart within 20 km radius, but, now they say in clause No. 7. Independent Business Associate who has a purchase account of less than 48 months will not get Loyalty bonus”
2. Next fake is that they printed vouchers and gave it for 1 year out of 4 years , for purchases of 220/- worth products, now they say that this coupons will stand cancelled and asking associates to upload photos in website and login and take a printout of the voucher in website.
One question how many people will have knowledge of net and computers, many might have joined by force, emotional joining, out of pressure, for pleasing a friend etc. They don’t remember their password, login, details, cell number to enter in the time of registration in NMart, but, now how can they log in and get a printout form the site,
Many people who joined them in NMart died, transferred, shifted etc. Who will have the password and contacts of the associates, how can this poor associate take a printout and get Rs 220 products.  
Many poor Indians don’t know net and computers etc.
3. They said they will give a smart card, loyalty card for transaction they have not sent it till date. It is doubtful they send in future.  

4. They said that they will get repurchase income for associates, that is,  if associates under  a joined person, who have a 20 layer people , who are called down line, if the down line purchase products , the up line will get commission on products as this manner
16 , 25, 50 and 1 percent commission. 
But till  today this amount is not counted.  Is this not cheating?
5. They promised big gifts, but it is a doubtful they are giving or not.Only few that is in 10 percent will earn money in MLM, that is, once food is poison for others.
Have a look at the tricky agreement put in their website of the login of associates

Associate to create the online
purchase account immediately then only NEWLOOK MULTITRADE recognize the details
according to the online purchase account hence NEWLOOK MULTITRADE will not be
liable for any loss of bonus, income or commission due to the late creation of online
Independent Business Associate Agreement
purchase account.
The following are the terms and conditions for an Independent Business Associate of
Independent Business Associate” refers to, : XXXX  S/o , R/o XXXX
(Hereinafter called as the “Independent Business Associate” which term shall mean
and include their heirs, executors, successors, administrators, legal representatives
and assigns etc., of FIRST PART) AND
“Nmart” refers to a division of NEWLOOK MULTITRADE PVT LTD, 3rd Floor savera
complex, opp. Krishana Petrol Pump, Udhana-Navasari road, Surat, Gujarath.
(Hereinafter called the “Nmart” which term shall mean and include his heirs,
executors, successors, administrators, legal representatives and assigns etc.,of

Legalities we understand

NEWLOOK MULTITRADE is a registered company, registered under the company’s Act,
1956, having understood by both the parties herein on the following legal information
stated below:
1.    It is believed and understood that, the Government of India in its letter vide
No.F.No.21/22/2001 Dt. 09/04/2003 & D.No.21/22/2001 Dt. 31/03/2003,
categorically stated that “the inapplicability of the provisions of the Prize Chits Money
Circulation Schemes (Banning) Act, 1978” to direct/network/ multilevel marketing,
does not come under purview of Police (criminal) action who carries a marketing
business of selling the products/goods similar to this Nmart.

2. It is also believed and understood that, the Hon’ble Supreme Court of India, in its
judgment reported in 1982 SC 949 & 1988 SC 492, categorically passed a historical
verdict, stating that the Police (criminal) action has no consequence on these type of
companies, so as also, in another judgment reported in 2006 Crl.L.J.1961 by the
Hon’ble High Court of Patna (Bihar) that, even these type of Companies have only
consequence in Civil nature of Litigation.
Thus, both the parties herein once again believes and understands to proceed in this
Marketing Business, since it does not suffer from any legal complications as indicated
herein above. Hence entered under the following terms & conditions.
Independent Business Associate. 
1. NEWLOOK MULTITRADE accepts payments against its goods/products/services as
an advance payment to deliver the goods/products/services, thereafter issues the
PVC (Payment Verification Code/ E-pin) immediately to the person who has sent the
payment subject to verification and acknowledgement of the remittance only.
Subsequently, the online purchase account will be created by name as an Independent
Business Associate to the NEWLOOK MULTITRADE and will get started with those
facilities and benefits subject to online purchase account has been setup.
2. NEWLOOK MULTITRADE will only be responsible for sending the PVC/E-pin to the
respective Login ID of the person who remits payment into the company’s account and
it is sole responsibility of Independent Business 
3. The minimum advance amount for
 purchase to become an Independent Business
Associate of NEWLOOK MULTITRADE begins with Rs. 5500.00, after submission of
company’s application, its rules and regulations under terms and conditions duly
signed by the IBA together with this agreement.
1. Nmart acknowledge the payment of Rs {4.RegistrationAmount}/- that has been
received from the Independent Business Associate who’s NEWLOOK MULTITRADE ID
{5.Username} is against the purchase of our products.
2. NEWLOOK MULTITRADE will provide a purchase account under the login section of
website and this payment will reflect in terms of advance products
coupon to purchase goods/ products.
3. Independent Business Associate has to take the printout of the agreement from the
login section and after signing on all the pages, has to send to the company along with
their copy of PAN and address proof to become a verified Independent Business
Associate, further understands that verification is must to receive the payout from the
company, in case of delay in verification NEWLOOK MULTITRADE will hold the payout
until the verification process is completed.
1. Independent Business Associate will get Nmart Loyalty bonus of Rs.11, 000 after 48
months of purchases. NEWLOOK MULTITRADE will try its level best to give maximum
bonus not less then Rs.11, 000.
2. Each associate will get free purchase voucher of Nmart stores worth Rs.220/- each
month for 48 months, which can be redeemed at any Nmart retail outlet across India.
3. Independent business Associate will get credit facility of Rs.1500/- max. for every
4. Credit for the last month has to be settled by 7th of every month. Credit can be
availed from any Nmart stores across India including compensation plans shown in
5. If any Independent Business Associate fails to settle credit account in specified
duration, Nmart will hold all credit facility, free purchase vouchers and Loyalty Bonus.
6. Independent Business Associate will get Commission according to our compensation
plan as mentioned in our website
7. Independent Business Associate who has a purchase account of less than 48
months will not get Loyalty bonus.
8. This agreement stands good for availing services to Four-year period only.
1. Independent Business Associate agrees that the NEWLOOK MULTITRADE
Independent Business Associate is an independent contractor, and not an employee,
agent, partner, legal representative, or franchise of NEWLOOK MULTITRADE
Independent Business Associate further agrees not to incur any debt, expense,
obligation on behalf of, for, or in the name of Nmart.
2. Independent Business Associate must be of above 18 years old on the date of
3. Management reserves right to accept or rejects/cancels the Independent Business
Associate ship whenever it feels reasonable.
4. The Independent Business Associate will not be permitted to avail more than one ID
on his/her name.
5. Independent Business Associate agrees to present NEWLOOK MULTITRADE business
plan and NEWLOOK MULTITRADE products and services as set forth at the official
NEWLOOK MULTITRADE website. Independent Business Associate will make no claims
regarding potential income, earnings, products or services beyond what is stated at
the official NEWLOOK MULTITRADE website. Independent Business Associate further
agrees not to reproduce commission checks or distribute commission checks in any
form or by any means.
6. Independent Business Associate agrees not to disparage Nmart, other NEWLOOK
MULTITRADE Independent Business Associates, NEWLOOK MULTITRADE products,
NEWLOOK MULTITRADE Independent contractors. Independent Business Associate
understands that disparagement may result in the immediate suspension or
termination of Independent Business Associate’s purchase account with a cancellation
of any pending commissions.
7. Independent Business Associate understands that the information given on the
website is the latest and it will be only applicable regarding our plan,
products and services. Independent Business Associate further understands that any
printed material regarding our plan, product and services which is available in the
market may have been outdated, so please visit our website frequently for latest
updates regarding our plan, products and services.
8. Independent Business Associate agrees to not utilize SPAM in promoting Nmart.
This action may result in the immediate suspension or termination of Distribution
account with a cancellation of any pending commissions. Independent Business
Associate will also be in violation of the NEWLOOK MULTITRADE Distribution
Agreement and subject to legal action and be held liable for any financial loss incurred
by Nmart. Any service interruptions to NEWLOOK MULTITRADE as a result of
Independent Business Associates spamming will be billed to Independent Business
Associate at Rs. 10000 per hour until service is restored. For the purpose of this
agreement SPAM is defined as emailing ANYONE, in bulk or by single mailing, about
Nmart, who has not specifically requested the information directly from Independent
Business Associate. The ONLY exceptions to this are:
Mailing to APPROPRIATE OPT-IN mailing lists where the sources do the mailing on
Independent Business Associate’s behalf AND you do not advertise an NEWLOOK
MULTITRADE - provided Gateway URL.
However, use extreme caution when choosing an opt-in mailing list company. Using
anything but the most reputable sources could generate spam complaints against
Independent Business Associate resulting in suspension or termination.
You may include information on NEWLOOK MULTITRADE in email Acknowledge
Messages for orders and inquiries that you receive so long as it is stated upfront that
you will be sending them an acknowledge. NEWLOOK MULTITRADE also considers any
type of advertisement about NEWLOOK MULTITRADE posted to a Newsgroup or Chat
Room to be spam. Violators may be fined at Rs. 2500 per incident.
9. Independent Business Associate agrees to provide NEWLOOK MULTITRADE with
valid email address, postal address, and copy of PAN card and address proof upon
registration. Independent Business Associate understands that the use of an Auto-
Responder email address is prohibited.
10. All payments will be made in Rupees. Independent Business Associate
commissions shall normally be paid by ECS/Account transfer/Demand Draft or
Cheques and sent out weekly/monthly. If a sale is cancelled or refundable, the related
commission will be deducted from a subsequent payment. Payment will be made after
the deduction of TDS according to Indian law. Payout will be sent through ECS to the
Bank details provided by the Independent Business Associate. Independent Business
Associate is requested to update the Bank Account and Bank Code. Providing the
wrong bank account may cause delay of payout and NEWLOOK MULTITRADE will not
be responsible for the same. Any penalty or fine or charges levied by the bank shall be
born by the Independent Business Associate due to insufficient/ inaccurate information
given by the Independent Business Associate.
11. Independent Business Associate agrees to receive NEWLOOK MULTITRADE email,
and restricted to sales reports, training, newsletters, plus messages.
12. NEWLOOK MULTITRADE will make every reasonable effort to track and pay
commissions for all sales that apply to Independent Business Associate. However,
NEWLOOK MULTITRADE is not responsible for technical problems, acts by third
parties, or other events outside our reasonable control which may temporarily disrupt
or diminish this service.Independent Business Associate understand that Independent
Business Associate tracking can never be 100% accurate and NEWLOOK MULTITRADE
is not responsible for inaccuracies that might occur beyond its control. Tracking of
Independent Business Associate sales depend on several factors, technical and
otherwise, which are out of the control of Nmart. It is the goal of NEWLOOK
MULTITRADE to make Independent Business Associate tracking as accurate as
possible; however, NEWLOOK MULTITRADE cannot guarantee 100% tracking for
situations beyond its control.
13. To protect NEWLOOK MULTITRADE customer privacy, if deemed necessary,
NEWLOOK MULTITRADE reserves the right to withhold identifying customer contact
information from Independent Business Associate.
14. NEWLOOK MULTITRADE reserves all rights in or to its trademarks and services
marks but may be used by Independent Business Associate in accordance with this
agreement. Independent Business Associate may in no way display NEWLOOK
MULTITRADE logo, image or trademark that may be distasteful, misrepresented or
subjecting to deterioration.
15. Independent Business Associate shall follow NEWLOOK MULTITRADE advertising
guidelines and agrees not to misrepresent NEWLOOK MULTITRADE products and
services. Independent Business Associate agrees to use only NEWLOOK MULTITRADE -
approved ads. You may submit your own ads for Nmart’s approval. They must be
approved however before you can publish them.
16. Independent Business Associate may not assign rights or delegate duties under
this Agreement without the prior written consent of Nmart. Upon request NEWLOOK
MULTITRADE will provide Independent Business Associate with guidelines for the sale,
transfer or assignment of Independent Business Associate with guidelines for the sale,
transfer or assignment of Independent Business Associate NEWLOOK MULTITRADE
17. NEWLOOK MULTITRADE shall not be held liable for any indirect, incidental, special
or consequential damages or any loss of revenue or profits arising under or with
respect to this Agreement or program, even if NEWLOOK MULTITRADE has been
advised of the possibility of such damages. NEWLOOK MULTITRADE aggregates
liability arising under or with respect to this agreement or the program shall in no
event exceed the total commission paid or payable by NEWLOOK MULTITRADE under
this agreement. 
18. NEWLOOK MULTITRADE reserves the right to amend, modify, and terminate this
agreement at any point of time with out any notice. The Term of this Agreement shall
stand good for a period of one year from the date of execution of this agreement and
shall automatically be renewed after every year without further consents of parties
unless either party has terminated this Agreement by written notice to the other. If
terminated, outstanding commissions at time of termination shall be paid in the next
payment so long as the Independent Business Associate did not violate the terms of
this agreement. Payment of the final commission to the Independent Business
Associate may be with held for a reasonable time in order to ensure that the correct
amount is paid.
19. No Refund Policy: The purchase amount paid towards goods/products/services
offered shall not be refunded under any circumstances and Independent Business
Associate can take back his/her 100% goods/products/services if the purchase coupon
has not been redeemed and has not violated any clauses mentioned in this
20. Jurisdiction: In the event of any dispute arising between the Independent Business
Associate and NEWLOOK MULTITRADE relating to any matter connected with this
agreement or with regard to appointment as an independent Business Associate of
NEWLOOK MULTITRADE or the subject thereof or in relation thereto and whether as to
construction or otherwise, the same shall be referred for Arbitration and Conciliation
Act, 1996. The company shall appoint a Sole & an Independent Arbitrator whenever
any such dispute arises. The award made by the Sole Arbitrator shall be final and
binding on both the Independent Business Associate and Nmart.
The jurisdiction for the purpose of any litigation shall be the Jurisdiction of Surat,
Gujrat state Courts only.
Both the parties herein consents with each other, agrees the above terms & conditions
under this agreement by enjoying sound health with out any compulsion and under no
duress, entered also within the meaning and ambit of Cyber Laws of the Information &
Technology Act, 2001 or any other laws of this land made on the 3 Day of February in
year 2011.
1. Party No. 1 : XXX                                                  1.       2. Party No. 2 : Newlook Multitrade Pvt. Ltd.