NATIONAL ASSOCIATE

Memorandum of Understanding

Between

International College of Financial Planning Ltd.,

3rd Floor, Gulab Bhawan, 6-Bahadhurshah Zafar Marg, New
Delhi-110002

And

---------------------------------------------------------------------------------------------------------------------
(Company Name)

---------------------------------------------------------------------------------------------------------------------
(Address)

WHEREAS International College of Financial Planning Ltd., is a company incorporated under the
provisions of the Companies Act, 1956 (“ICoFP”) having its office & campus at 3rd Floor, Gulab
Bhawan,6 Bahadhur Shah Zafar Marg, New Delhi 110001, India, is engaged, inter-alia, in
the business of education offering various certification courses/programs, training etc.

And whereas ____________________________ (Name the Associate) has represented that it has
necessary infrastructure, expertise and has evinced interest to be an Associate of ICOFP for promoting
ICOFP educational programmes

Now therefore, for mutual considerations, the parties on _______ day of _______(month) 2017 have
agreed to the following terms and conditions:-

Section 1: Definitions

_________________________________________shall be indicated as Associate hereafter in this

agreement.

______________________________ shall be indicated as ICOFP.

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 Section 2: Appointment

Based on the representations given by the Associate, ICOFP is pleased to appoint the Associate on a non-
exclusive basis to carry out the following services:

1. Promote ICOFP educational programmes to prospective students using appropriate marketing

channels.

2. Provide / sell enrollment application forms to prospective Students on behalf of ICOFP and Submit
duly filled in enrollment applications with ICOFP on behalf of prospective students, with
supporting documentation, which meet the acceptance criteria of ICOFP, along with proof of
deposit of registration / advance fee (to be deposited by the Student directly to ICOFP). It is clear
understanding that underwriting of the enrollment application form of a student shall be at the sole
discretion of ICoFP and the Associate shall have not right or authority to bind (legally or otherwise)
ICoFP in this regard.

Termination - This agreement is valid on the date signed and shall continue in force until terminated by
either party in writing with 30 days notice. Any dues from either side upon termination shall be cleared by
the other party within the 30 days notice period.
Upon termination of this arrangement for any reason whatsoever the Associate shall not use
ICOFP name, goodwill etc. and shall immediately return the unused promotional material including
prospectus and application forms at its disposal.

Termination clause: If the Associate is found involved, directly or indirectly in providing false documents
to ICOFP, upon detection of the same agreement shall automatically be terminated without notice and
without any further liability on the part of ICoFP. In such situation arrears on account of commission if
any payable to the Associate will not be paid.

Section 3: ICOFP Responsibilities

ICOFP acknowledges the Associate’s role as one of the important role for success of ICOFP. In order to
assist the Associate with its responsibilities, ICOFP offers the followings:

1. Provide Promotional Materials ---ICOFP will provide initial promotional materials, such as
brochures, catalogs, posters, and applications for enrollment, to assist with counseling and
recruiting. ICOFP reserves the right to fix price for Enrolment Application forms and the
Associate shall have to pay for Enrollment Forms to ICOFP as may be mutually agreed.

2. Process Applications in a Timely Way – Upon receipt of duly filled in Enrolment Application
forms along with supporting documentation and registration / advance fee from the
AssociateICOFP will process the same within sixty (60) days and issue acceptance letter or any
other appropriate communication to the student subject to the Rules of its own as well as UGC
recognized university that it has tied up with for MBA program. A copy of such communication
shall be sent to the Associate for records. If the student has paid for expedited processing (highly
recommended), documents will be processed within two (2) business days.

3. Pay Commissions -- For each enrolled student introduced by the Associate, ICOFP shall pay a
commission/facilitation fee as per annexure A including the deductibles on account of applicable

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 tax after such tuition has been earned and received. An academic year is equivalent to enrollment
in three academic quarters. Commission is calculated on minimum program requirements .Any
number of courses registered in addition to the minimum requirements will not count towards the
commission.

4. Provided that Commission shall be paid to the Associate in two equal installments of their benefit
10k and Next Installment should be Min.1.50 Lac in addition to Down Payment of the
respectively each at the end of the corresponding term for three terms after due deduction of
applicable tax. It shall be paid within four weeks of closure of add/drop period for that term.

Section 4: Associate Responsibilities

Associate’s primary responsibility includes promotion of ICOFP programs in the territory assigned to it
by ICOFP. By accepting this appointment, the Associate agrees to the followings:

1. Promote ICOFP Accurately -- Promote and present ICOFP by using direct mail, print
advertising, and/or any other legal means within the allocated territory to advertise ICOFP
educational programmes. The Associate shall understand the scheme of educational programs,
course fee and admission procedures and relevant dates of admission, examination etc. As
may be prescribed byICOFP. For this purpose the Associate shall receive/avail training, specially
designed and imparted by ICOFP at costs and expenses to be mutually decided. The Associate is
responsible to provide correct and complete information about the courses, validity,
placement opportunity, duration of course, fee structure, concessions/discounts, if any, to the
candidates making any queries about ICOFP programs. It shall not make any false statement
and/or falsely represent the prospects associated with ICOFP educational programs. Further,
the Associate shall not accept / demand money or any other favors from candidates making
enquiries and/or interested in joining ICOFP programmes through any other means. Also the
Associate shall not appoint Associates or assign responsibilities under this arrangement
unless specifically permitted by ICOFP.

2. Refer Qualified Students to ICOFP -- Referring prospective students to ICOFP, counseling

those regarding ICOFP programs and classes, and advising them of their responsibilities as
ICOFP students. The Associate shall also ascertain that all prospective students have sufficient
financial resources to pay for tuition and other fee.

3. Collection of Initial Fees from Prospective Students – Associate is not authorized to collect
any fee in their own name. Associate shall ensure that students deposit application fees, mailing
fees, expedited processing fees, and other fees all in favour of ICOFP directly in Bank account of
ICOFP E Limited across India with ICOFP account maintained in Central bank of India/Axis
Bank. Associate shall take note that fee paid by student is non-refundable and the student bears
all currency exchange, wire transfer, and any other transaction related expenses, both for sending
or receiving funds. The Associate should inform ICOFP either by fax, phone, or e-mail,
immediately after the transaction has been made.

4. Submit Monthly Status Reports – The status of each prospective student shall be reported on a
monthly basis. This data will be used by ICOFP for academic planning and programme
promotion.

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 5. Training to Associates: Associates are required to undergo training provided by the
institute either personal training or training on the web. It is compulsory for the Associate
to undergo such training as advised by the Institute.

6. Stamp: It is compulsory for Associates to affix their own stamp/seal on the application forms
submitted by the Associate.

7. Recommendation form: It is mandatory for all associates to fill up recommendation form for the
referred students.

______________________________________________________________________________

Section 5: Terms of Agreement

This agreement contains all the terms and conditions between ICOFP and the Associate. Any change or
amendment to this agreement shall be made in writing and agreed to by each of the parties hereto and
duly signed by the authorized signatory of each of the party.
______________________________________________________________________________

Section 6: Miscellaneous

1. Publicity/Promotion Strategy:The Associate shall discuss with ICOFP and finalize once in a
quarter (comprising of 3 months) in advance the publicity strategy to be adopted for the
next quarter and such strategy shall be documented. The Associate will need to set up and make
schools/colleges presentations on an ongoing basis whenever ICOFP representative visits the
Associate’s territory, it will ensure that maximum numbers of school presentations are organized.

2. Advertising/ Marketing/ Promotions: Any advertisement/ marketing/ promotional material

circulated or intended to be circulated by the Associate referring to the courses/programs
offered by ICOFP but not supplied by or purchased from ICOFP needs the prior written
consent of ICOFP before circulation.
3. Use of trademarks/intellectual property: By virtue of this appointment letter ICOFP is
neither giving / assigning /authorizing the Associate to use its trademark/ intellectual property
rights nor intends to keep it under the Associate’s care and custody except to the extent
specified in this agreement. Hence, for any kind of misuse, abuse of such rights at the
Associate’s end, appropriate action under law shall be instituted and pursued at Associate’s cost.
4. Indemnity: The Associate shall indemnify ICOFP at all times, during subsistence of this
arrangement and thereafter for its own and its employees’ actions, act of omissions or
commission etc. which have caused and / or have the potential to cause damage to ICOFP.
5. Confidentiality :- All communication between the Associate and ICOFP including this
agreement shall be treated as confidential. The Associate shall not divulge/discuss the
information exchanged to any third party. In case of breach the Associate shall be liable for
consequential damages.
6. Dispute: Any dispute arising out of this appointment shall be amicably settled between
the parties. Failing to reach an amicable settlement within a period of 45 days from the start of
the conciliation process, the matter shall be referred to court and the courts at Delhi/New Delhi
shall have exclusive jurisdiction to resolve any such disputes arising out of this agreement.
______________________________________________________________________________
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 Section 7: Signatures

This agreement is hereby signed, sealed, certified and delivered by the designated representatives below.

___________________________ _____________________________
ICOFP Representative Associate Representative

___________________________ _______________________________

Designation-

Date Date__________________________
___________________________

Name of Associate:
Pan Number:
ID Proof:
Residence Address:
Residence Proof:
Landline No:
Office Address:
Landline No.:
Mobile No.:

GENERAL TERMS & CONDITIONS:

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1) Payment of professional charges will be released only on raising invoice from consultant side.
2) Payment of consultation fees will be entertain only after receiving minimum enrollment amount which
at present is Rs. 75k
3) Consultancy Charges mentioned below for various courses should be paid as per slab system.
In case any further assistance require please feel comfortable to contact us on following address by
personal visit or telephone call Varun Arora
Annexure-I
Pay out – (PGDSAT+MBA(FA) / BBA(FE) courses:
From 1 to 5 Admissions (per admission) Rs. 45,000/-
For Next 5 admissions (per admission) Rs. 50,000/-
For10 or above admissions (per admission) Rs. 60,000/-
Payment Schedule:
1: 10k of the payout between 25-30 Days of Receipt of Enrollment amount
2: Payment for Next Installment should be Min.1.50 Lac in addition to Down Payment , will be released
after 25-30 Days on Receipt of the fee Plan
*The Initial Professional Charges paid on the basis of 75k Payment will be refund to the company by the
consultant by way of adjustment due from another student/New Student , if the student drop out
Annexure-II
Pay out for 1+1 year Courses (MBA(FP)/ (MBA(FE) :
From 1 to 5 Admissions (per admission) Rs.35,000/-
For Next 5 admissions (per admission) Rs. 40,000/-
For10 or above admissions (per admission) Rs. 50,000/-
Payment Schedule:
1: 10k of the payout between 25-30 Days of Receipt of Enrollment amount
2: Payment for Next Installment should be Min. 1.50 Lac in addition to Down Payment , will be released after
25-30 Days on Receipt of the fee Plan
*The Initial Professional Charges paid on the basis of 75k Payment will be refund to the company by the
consultant by way of adjustment due from another student/New Student , if the student drop out

Annexure-III

Pay out 1 year program (PGDFP/PGDFE):

From 1 to 5 Admissions (per admission) Rs. 25,000/-
For Next 5 admissions (per admission) Rs. 30,000/-
For10 or above admissions (per admission) Rs. 35,000/-
Payment Schedule:
1: 10k of the payout between 25-30 Days of Receipt of Enrollment amount
2: Payment for Next Installment should be Min. 1.50 Lac in addition to Down Payment , will be released after
25-30 Days on Receipt of the fee Plan

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*The Initial Professional Charges paid on the basis of 75k Payment will be refund to the company by the
consultant by way of adjustment due from another student/New Student , if the student drop out

Annexure-IV

Pay out program (CFP):

From 1 to 5 Admissions (per admission) Rs.2,000/-
For Next 5 admissions (per admission) Rs.3,000/-
For10 or above admissions (per admission) Rs.4,000/-
Payment Schedule:
1: Payment will be released after full fee received and between 25-30 Days of Receipt of Enrollment.
2: Books included in fee.

Annexure-V

Pay out program (SG):

From 1 to 6 Admissions Rs.1,500/-
For Next 7 or above admissions Rs.1,800/-
Payment Schedule:
1: Payment will be released after full fee received and between 25-30 Days of Receipt of Enrollment.
2: For discount cases, All Payout will be calculated proportionally .

Annexure-VI

Pay out 1 year program (PGDBF+PGDM):

(per admission) Rs. 25,000/-
Payment Schedule:
1: 10k of the payout between 25-30 Days of Receipt of Enrollment amount
2: Payment for Next Installment should be Min. 1 Lac in addition to Down Payment , will be released after 25-
30 Days on Receipt of the fee Plan
*The Initial Professional Charges paid on the basis of 75k Payment will be refund to the company by the
consultant by way of adjustment due from another student/New Student , if the student drop out

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