1.0 OBLIGATIONS OF THE AFFILIATE AND BILAAD
i. That the Affiliate shall represent BILAAD positively and provide clients with truthful information and data.
ii. That the Affiliate is not permitted to negotiate any transaction on behalf of BILAAD.
iii. That the Affiliate shall market products and services that are available after confirming from BILAAD of their availability.
iv. That the Affiliate shall abide by the guidelines on correspondence management (attached herewith).
v. That the Affiliate shall prevent anything that may cause the integrity of BILAAD to be questioned.
vi. That the Affiliate shall source for interested or potential clients and complete Client Application Form, Attach Passport Photograph, Attach Valid Copy of Identification Card of Client, and highlight Preferences if any to enable BILAAD process the application of clients.
vii. That BILAAD will provide the Affiliate with a Provisional Letter of Allocation for the client following confirmation of initial payment.
viii. That all payments should be made into BILAAD’s accounts ONLY
ix. Where a client makes payment, the Affiliate should inform BILAAD of same and provide reminders to client on subsequent due dates.
x. That any payment by or on behalf of the client should indicate the invoice reference number.
xi. That BILAAD will require 48 hours to verify and confirm all payments before issuance of receipts (it may take longer for offshore transfers or similar cases).
xii. That BILAAD shall provide necessary information materials(electronic format) that may be needed by the Affiliate in the course of his/her marketing of products and services to clients.
The parties hereby agree that the commission will be paid as follows:
i. The Affiliate will be entitled to a commission of 5% on any property in a situation where the affiliate single handedly closes the transaction. In a situation where the transaction falls into debt recovery, the affiliate will receive 3%.
ii. In a situation where the affiliate gives the lead to the company for transaction closure, the Affiliate receives 3% commission.
iii. The Affiliate will be entitled to a commission of between1-3% on the amount raised for project investment.
iv. The Affiliate will be entitled to a commission of between 1-5%on the agreed land value for a Joint Venture project.
v. All commissions due to be paid shall be subject to a 5% With holding Tax (WHT) deduction for individuals and 10% WHT for corporate organizations.
vi. It should be noted that the commission will be on monies paid by a client at a time.
vii. In the case of a discount sale, the commission paid will be subject to the discretion of BILAAD (between 1-5%).
viii. BILAAD reserves the right to restructure the commission on any of the properties/products as it deems fit.
ix. An Affiliate is only entitled to the commission of the client that he/she introduced. Where the client of the Affiliate introduces another client, the commission will either be claimed by the client or remain for BILAAD.
x. The Affiliate assigns the account details herein to receive all commission payments from BILAAD.
i. The Affiliate shall not disclose toany 3rd-party any details regarding BILAAD’s businesses, including,without limitation, any information regarding the client’s customerinformation, business plans, technology, methodology or price points.
ii. The Affiliate will not make anycopies of confidential information or any content based on the conceptscontained with the confidential information for personal use or distribution unlessrequested to do so by BILAAD or the client.
4.0 CONSEQUENCES OF BREACH OF TERMS AND CONDITIONS
4.1 Where the Affiliate misrepresents BILAAD in any form or way,he/she will be sanctioned as deemed fit by BILAAD
4.2 Where the Affiliate lies or gives wrong information to aclient regarding the sale of any unit or completion period of properties, he/shewill be held responsible nor will BILAAD be held liable to remedy any suchcircumstance.
4.3 Where the Affiliate has breached any of these terms andconditions, he /she will have no dealings with BILAAD again.
5.0 DISPUTES AND ARBITRATION
5.1 Where there is a dispute regarding client representation andcommission, the discretion of who gets paid lies solely on BILAAD Realty.
5.2 Where disputes or differences arise between the partieshereto in connection with or arising out of this Agreement which cannot beamicably resolved by the parties after having exhausted all possible mediationprocess, such dispute or difference shall be referred to arbitration in accordanceto the Arbitration and Conciliation Act Cap A19 of the Laws of the FederalRepublic of Nigeria.
5.3 The aforesaid arbitrators shall be duly constituted by apanel of three Arbitrators. Each party shall appoint an arbitrator and the twoparties shall appoint the presiding Arbitrator.
5.4 The sitting of the Arbitration shall be in Abuja.
5.5 Whereboth parties are not satisfied with the findings of the Arbitration, they canresolve to settle the dispute in court.