TERMS AND CONDITIONS OF OLY’S AGENTS
1.1 You may register as our agent to promote, distribute and sell the Products (“Agent”) by
filling in the relevant form available in the Channels. Registration and becoming our
Agent is free and we will not collect any money for being our Agent. Being our Agent
does not confer any exclusivity and the Company shall be entitled to appoint any other
similar agent to enter into a similar agreement in Singapore or any other country
(“Territory”) described herein.
1.2 The Agent shall:
(a) perform all duties and responsibilities in a professional and competitive manner and always striving to promote the success and reputation of the Products and the Company;
(b) promptly and diligently comply with all the guidelines, policies, directions and requirements of the Company which the Company may from time to time notify to the Agent, including but not limited to any discount, scheme or promotion as may be determined by the Company;
(c) not in whatsoever way commit fraudulent act, mislead, deceive or mispresent the price, quality, performance and availability of the Products;
(d) be responsible to provide the necessary after-sale services and other services as requested by the customers;
(e) accurately represent and state Company’s policies to all potential and present customers; and
(f) inform the Company in writing if the Agent intends to conduct marketing outside of the Territory.
1.3 Any price quoted or amount receivable by the Agent from the customer shall be at the price fixed by the Company including any changes to it, which the Company will notify the Agent from time to time. The Company may at its sole discretion apply any promotion and/or to provide discount to all or any of the Products. The Agent shall adhere to the promotion and/or discount provided or instructed by the Company from time to time.
1.4 The Agent agrees and undertakes to the Company to refrain from engaging, directly or indirectly, in any form of commercial competition (including, but not limited to, through business, marketing, investment or financial activities) with the Company.
1.5 Profits earned by the Agent from any successful promotion, distribution or selling of the Products will be credited into a designated account of the Agent with the Company (“Agent’s Account”). The Agent may withdraw all or any part of the profits in the Agent’s Account or to convert such profits into Oly Coins. In the event the Agent opt to convert the profits into Oly Coins, the Company will reward the Agent with 20% extra Oly Coins for every amount of conversion opted by the Agent. The reward to be granted by the Company may subject to change from time to time without notice. For any cash conversion, such Oly Coins will be credited into the customer’s OLY Wallet.
1.6 The Agent may transfer funds from the Agent Account (subject to the requirement of minimum amount to be reserved in the Agent Account to be determined by the Company from time to time) to your linked bank account (“Bank Account”) by submitting a transfer request (“Withdrawal Request”). The Agent is entitled to a maximum number of two (2) Withdrawal Requests per month. The Company shall only process such Withdrawal Request for it to be credited to your Bank Account, on business days and such transfers may take up to three to five business days from 1st of each month or 15th of each month. The Company may impose fees or charges for each Withdrawal Request made (“Withdrawal Fee”). The Withdrawal Fee is subjected to any applicable tax(es). The Withdrawal Fees charged are subject to change at the Company’s discretion. Once submitted, you may not modify or cancel a Withdrawal Request.
1.7 The Company may reward the Agent with Oly Coins, vouchers and/or other remuneration to be decided by the Company from time to time, for introducing or refer new agent to the Company, provided always that the new agent successfully registered with the Company as an agent (“New Agent”), subject to any requirements and terms and conditions imposed by the Company. The rewards from the referral programme applicable to the Agent may extend by the Company to also include agent referred by the New Agent and so on. The number of tiers applicable for the referral programme shall be determined by the Company and subject to changes to be made by the Company from time to time.
1.8 The Company may terminate the appointment of the Agent at any time, without notice, if the Agent is found committing serious misconduct or guilty of any criminal offence and sentenced by the Court of competent jurisdiction in Singapore and being declared as a bankrupt or insolvent. The Agent may terminate the appointment of the Agent by giving 30 days' written notice to the Company. Upon termination as an Agent, you are required to contact the Company to enquire on the balance of your money and/or Oly Coins in the Agent Account.
1.9 The Company and the Agent agree that nothing herein shall be construed or deemed to create an employment, a partnership or a joint venture relationship with the Company, its parent, for any purpose whatsoever.
1.10 The Agent irrevocably undertake and covenant with each other that it shall not during and after the subsistence of this appointment divulge, replace, copy, duplicate, reverse engineer, modify, tamper, exploit, disclose, and/or transmit to any person whosoever or otherwise make use of and to prevent the publication or disclosure of any confidential information unless prior written approval of the other has been obtained or where such disclosure is required by law.