1. Code of Ethics
The iRICH Work & Play India Private Limited Code of Ethics is a set of rules, regulations and guidelines that all the Independent Business Owners (IBO’s) of iRICH Work & Play India Private Limited shall abide. The rules and regulations along with guidelines detailed in the Code of Ethics by the company shall bind all IBO’s of iRICH Work & Play India Private Limited. This Code of Ethics provides procedures to be followed by the IBO’s during the promotion of the iRICH Work & Play India Private Limited business along with the Do’s & Dont’s.
2. Introduction
iRICH Work & Play India Private Limited is a company incorporated under Companies Act, 2013 (18 of 2013) and rule 18 of the Companies (Incorporation) Rules, 2014, with its registered office at 201 301, Shanta Building, 18th June Road, Panjim, North Goa, Goa, 403001. Its wide range of products and services are useful in the heads of Tourism, E Commerce, Marketplace, Lifestyle & Education under the brand / trade name “iRICH” for individuals, small and medium enterprises and small-home offices.
iRICH Work & Play India Private Limited is promoted under the Business Promotion Policy / Direct Marketing / Selling by its purchasers (IBO’s - Independent Business Owner’s). iRICH Work & Play India Private Limited laid down specific norms to be followed by the IBO’s of the iRICH Work & Play India Private Limited under Direct Selling. If any IBO is found violating the Code of Ethics he / she will be punished as per the procedure laid down in Code of Ethics and for any procedure not mentioned herein on any nature of issue, the company decision is final on such issues.
3. Objective
A. The objective of Code of Ethics shall be to encourage the spirit of cooperation and discipline among the IBO’s of iRICH Work & Play India Private Limited.
B. To organize and to unite all IBO’s of iRICH Work & Play India Private Limited and to regulate their relation with the Company and prospective IBO.
C. To secure fair trade practice and best services by IBO.
D. To address the grievances of IBO’s of iRICH Work & Play India Private Limited.
E. To prevent any false promises or assurances about quick money or easy money.
F. To prevent the element of gambling and wrong commitments.
G. To maintain professionalism.
H. To maintain Decency, Dignity and Discipline.
I. To provide effective and proper Communication.
4. Definitions
“iRICH” is the brand/trade name of “iRICH Work & Play India Private Limited " Company.
a) Company means iRICH Work & Play India Private Limited.
b) iRICH Work & Play India Private Limited. Business means the opportunity to do business as an IBO with the company.
c) iRICH Work & Play India Private Limited Products means all goods, products and services, including literature and other support materials, made available by the company to IBOs time to time.
d) iRICH Work & Play India Private Limited. Compensation Plan means the PV, JBV, RBV Program (introduced time to time) and guidelines, requirements, systems, Procedures and Policies regarding the presentation of iRICH Compensation Plan as amended from time to time by iRICH Work & Play India Private Limited and of which these Guidelines are a part.
e) Independent Business Owner’s (IBO) is a person either an individual or a legal entity or an organization, who is interested to buy and sell the iRICH Work & Play India Private Limited products and it’s services offered by registering his/ her/ its name with the company.
An applicant will become IBO on acceptance of signed and duly filled online/physical IBO registration form subject to term and condition of the company received online/offline at Head Office.
f) IBOs are independent business owner’s (persons) operating in their own responsibility and have no employment, no guaranteed financial commitments no agency or similar relationship with at or any of its affiliated companies.
g) User / Preferred Customer is a person, who purchase iRICH Work & Play India Private Limited products exclusively for their own use/purpose and they have no ground interest in the iRICH Compensation Plan. They are not eligible to earn any commission on sale of products.
h) Inactive IBO: In recent past the IBO who is:
i) Not purchased any company products either for self-consumption or for further sale in every 30 days.
ii) Not engaged in any transaction of purchase and sale of products in every 30 days.
iii) Not involved in any business development activity in every 30 days.
iv) Not presented the company iRICH Compensation Plan to any prospective associates in every 30 days.
i) Business Year is a financial year which begins from April 1st and ends with March 31st of the following calendar year.
j) Referrer / Sponsor is an iRICH Work & Play India Private Limited IBO, who introduces new IBOs to the iRICH Work & Play India Private Limited Business, who in turn buy and sell the products.
k) Cross Reference means that an IBO referring a prospective customer or IBO belonging to another IBO team.
l) Cross-line IBO-ship means an IBO again becoming an IBO in another IBO group.
m) Market means only the territory of India and will expand subject to the company's decision time to time and projected to start Nepal, Bangladesh and Bhutan in coming days.
n) Code of Ethics contains the Guidelines for IBO’s for the purpose of business. The Code of Ethics Guidelines are subject to change or modification as deemed fit by the Company from time to time and also according to the guidelines provided by Ministry Of Consumer Affairs.
5. Security
IBO’s are requested not share the user ID & Passwords with anyone for any reason. IBO’s are also requested to change their password periodically. Management is not at all responsible for such unauthorized transactions.
6. Eligibility /Qualifications
To become an Independent Business Owner (IBO) of iRICH Work & Play India Private Limited, the following are essential.
a: Should be a citizen of India(As of now, till we are limited to India).
b: Should be a major as per the norms provided by the election commission of India or the statutory provisions governing in India.
c: Should not be of unsound mind or mentally retarded.
d: Should not be sentenced by any competent court.
e: Should not have been charge-sheeted under extremist activities or terrorist activities.
F: Should be legally entitled to do business as per the Law time being in force.
7. Registration of IBO-ship
a) Registration :
The prescribed format placed on the company website, along with “Code of Ethics" and “Online User Agreement” / Terms & Conditions Manual (available on the website). Every prospective IBO has to necessarily fill up the online registration form by furnishing the details as required by accepting the terms and conditions mentioned therein.
b) Application :
Every IBO shall get registered, once he/she fills up the physical IBO application form (duly signed) by accepting the terms and conditions provided in the IBO application form (available on the website) and send it to Head Office with the help of his sponsor without any delay otherwise company reserves the right to terminate his/her business ID with immediate effect. Company believes that it’s the duty of their sponsor and if they failed to do so, punishable action will be taken care.
c) Accepting or rejecting application :
The company holds the sole right to either accept or reject the application submitted by an applicant. If the application is not filled in completely or the details furnished by the applicant are not true in nature, the company is at liberty to reject the application without any prior notice.
d) Date of Authorization :
An application shall be considered as accepted only when an IBO receives the confirmation of his / her registration & KYC Verification via e-mail on his IBO ID gets 1. Activated & 2. KYC Verified after purchasing of company products or services.
e) Independent Ownership year :
i) IBO-ship authorization shall expire at the end of 12 months from the date of online registration done at www.irichworkandplay.com subject to activation of ID before its expiration, otherwise the same shall be suspended after 30 days from the date of online submission in case if it is not activated.
ii) IBO’s shall not use any nature of mass communication method for the purpose of their business development without prior permission and approval of the Company.
8. Renewal
IBO-ship Renewal is free of cost and will be made at request, subject to submission of a renewal form If no request is made. Only after KYC IBO-ship will be lapsed automatically on completion of one year. It is a prerogative of the company to accept or reject the renewal application.
a. Refusal to Renewal
The iRICH Work & Play India Private Limited reserves the right to refuse any renewal request and can revoke any IBO’s renewal application, if in its opinion the IBO’s activities have not been in accordance With the interests of iRICH Work & Play India Private Limited or If the IBO did not comply with any one of the iRICH Work & Play India Private Limited Code of Ethics terms or any other condition of the agreed agreement within 12 months preceding the period for With renewal was sought.
9. Transfer of IBO-ship
No IBO-ship will be transferred to another person. IBO-ship is nontransferable except in case of succession. Subject to participation in business development activities commissions will be paid to successor other WISE successor is not entitled to claim commission.
10. Corporate as an Independent Business Owners
Any corporation whether it is a proprietary concern or partnership concern or limited or private limited company registered under the Companies Act can become an IBO of succession subject to the norms as required under statutory provisions. In case of a partnership firm, a copy of the partnership deed along With resolution of the firm is required In case of a company, to become an associate, it requires M.A. A.A, Form 32 duly attested by the Managing Director of the company any supported by a resolution of the Board of Directors. Change of authorized Signatory on behalf of the firm or company can be made on proper representation: no third party transfer will be allowed.
11. Commitments
All the Independent Business Owner’s must have certain commitments under the Code of Ethics.
1: If any IBO is found violating the Code of Ethics, their IBO-ship will be terminated without prior notice.
2: The IBO shall not make any false assurances or promises such as saying that It is easy I quick money, guaranteed monthly income, job or Job assurance.
3: Shall inform the prospective IBO that income is directly proportionate to efforts of selling products.
4: Shall not show exaggerated income figure and about the product usage.
5: Shall provide the customer true information about the prices, quality, standards, rates, contents, style or model.
6: Shall not sell the goods in a fraudulent or inducement manner or pressure selling or promote products that do not belong to iRICH Work & Play India Private Limited.
7: Shall not make any Income representations in order to promote iRICH Work & Play India Private Limited products and shall not induce the prospective buyer.
8: Shall not induce a prospect to purchase goods / services promising that he/she can reduce or recover the purchase price by referring more prospects for similar purchase.
9: Shall not indulge in any illegal activities or adopt unlawful trade practices.
10: Shall not refer to any testimonial which is not authorized / true, obsolete / no longer applicable in any manner, which may mislead the prospect.
11: Shall not campaign as an employee of the company and shall not express or imply that the relations of the IBO with the company are either master and agent or employee and employer.
12: Shall not do the business of other company having similar nature of business like, iRICH Work & Play India Private Limited, with or without using business platform of iRICH Work & Play India Private Limited.
13: Inactive IBO’s shall not be entitled for any commissions.
14: Shall not collect cash from any of the prospective IBO / Customer for buying iRICH Work & Play India Private Limited products or for any other purpose in the name of the company. For any business transaction, IBO shall collect the Demand Draft (DD) / Cheque/online transfer only in the name of “iRICH Work & Play India Private Limited”. (Cheques are subjected to clearance).
15: IBO’s must not sell iRICH products to those who are not eligible to enroll i.e. he/she must have attended minimum 10th class Examination or else who has ample of knowledge to register & train their IBO’s to avoid any further problems for themselves and company.
16: Use of our products:
a) Travels/Tours & Holidays are having some exclusion periods and IBO’s are requested to check these periods carefully and also convey the same to their prospects as well before registering. Any false commitment made by an IBO will be liable for the severe punishment and behind bar as well.
b) We are NOT doctors and our products are not medicines that could treat, cure, diagnose, and mitigate any deceases or medical ailments. We offer a wide range of Health and beauty products with a goal to help people to maintain/sustain a healthy lifestyle. Please refer to our literatures and our website for complete information on our products and their uses. – Upcoming (Entered – 27.11.2019)
17: IBO’s must not offer Job guarantee after completion of any Education Course arranged by the company or through any other entity time to time. Since company aims to impart only education through the courses and is not committing any job guarantee and must educate the prospect that the employment after the course entirety depends on the individual effort of the prospect.
12. Professionalism
iRICH Work & Play India Private Limited IBO’s must possess the quality of professionalism at all times, while promoting the iRICH Work & Play India Private Limited as stated below:
1: An IBO shall conduct business in a courteous and cordial manner and shall not exercise forceful selling methods or compelling methods.
2: An IBO shall always make a fair presentation about iRICH Work & Play India Private Limited products or services, if necessary by providing demonstrations with demo products. www.irichworkandplay.in
3: The prospective customer must feel comfort, when demonstration is organized by the IBO.
4: An IBO shall give a fair and detailed presentation on iRICH Work & Play India Private Limited products to the prospective purchaser and also explain the utility of the products.
5: An IBO shall not give an impression to the prospective purchaser that purchase of iRICH Work & Play India Private Limited goods is an opportunity to get employment at iRICH Work & Play India Private Limited or its group companies or elsewhere.
6: An IBO shall necessarily explain the Code of Ethics and the Business Guidelines to the prospective IBO’s and make them understand about the concept of Direct Selling / Marketing.
7: An IBO in order to enhance his business is entitled to use literature (If Any Offline/Online) provided by the company and If he chooses to use self-created literature to promote and sell company's products, he must get prior permission in writing from the authorized signatory of the company otherwise it’d a punishable offence.
8: An IBO cannot use literature other than that approved by the company for promoting iRICH Work & Play India Private Limited products.
9: An IBO can suggest or recommend to the company any additional literature if necessary in promoting iRICH Work & Play India Private Limited products.
13. Franchisee & Retail Store (Upcoming – Last Updated On, 27.11.2019)
An IBO, who works in or owns a retail store, must operate his or her iRICH Work & Play India Private Limited business separate and apart from the Franchisee & Retail Store. Such IBO must secure up customers and deliver products to them in the same manner. As iRICH Work & Play India Private Limited IBOs who have no connection with a store.
14. iRICH Work & Play India Private Limited Franchisee / Carry & Forward Agent(C & F) (Upcoming – Last Updated On, 27.11.2019)
The IBO who obtained Franchisee / Carry & Forward Agent(C & F) shall adhere to the terms and conditions of the Franchisee / Carry & Forward Agent(C & F) agreement apart from the agreed terms & conditions. In case failed to do so, disciplinary action will be initiated. Every Franchisee / Carry & Forward Agent(C & F) shall obtain appropriate and necessary permissions\ sanctions for doing business from Local Authorities and shall indemnify the company for all legal statutory compliances.
15. Presentation of / iRICH Work & Play India Private Limited
iRICH Compensation Plan
Inviting Prospects
When inviting a prospect to hear the presentation of the iRICH Compensation Plan, a iRICH Work & Play India Private Limited IBO shall not use the following invitations directly or indirectly or induce other IBOs to do so.
1: That it is related to an employment opportunity.
2: That the invitation is for a social event.
3: That this is an invitation to a ‘Market Survey'.
4: Promote the event as a ‘Tax Seminar'.
5: Without providing the company name and other details only by saying that it is the best opportunity without efforts/strain.
6: Any other misleading reason/statements like you will be getting the fixed returns every months up to some/several moths like investment concepts.
16. First Contact with Prospective Customers and IBO’s
1) At the first contact with prospective customers an IBOs, should:
A. Introduce himself by name.
B. He should make himself known in suitable fashion as an iRICH Work & Play India Private Limited IBO and should provide information regarding his name and address as well as correct information about the Company.
C. Inform the prospect about the iRICH Work & Play India Private Limited Business as in accordance with the Code of Ethics and other Terms and Conditions of iRICH Work & Play India Private Limited.
D. IBO’s shall not make any false income representations to promote iRICH Work & Play India Private Limited products to introduce more IBO’s in seeking participation of a prospective IBO in the iRICH Work & Play India Private Limited iRICH Compensation Plan.
2) The referring IBO must comply with the following guidelines:
A. Must use only iRICH Work & Play India Private Limited produced and authorized literature (Available on the website either in pdf / ppt format or downloadable format). iRICH Work & Play India Private Limited authorizes in writing only for use of personal business support material, if submitted to iRICH Work & Play India Private Limited through courier / Email. For further information on how to submit materials, please contact our Customer Support Team at listen@irichworkandplay.com
B. No IBO can produce Sell and / or distribute any business enhancement literature which are deceptively similar to literature or material published and distributed by iRICH Work & Play India Private Limited to its IBOs or which could create the impression to prospects in society that such literature or material belongs to iRICH Work & Play India Private Limited or that its publication or distribution is authorized by iRICH Work & Play India Private Limited.
C. Shall not say that iRICH Work & Play India Private Limited business is a “get-rich-quick" or easy money opportunity in which it is easy to achieve success with little or no expenditure of effort or time.
D. Shall not present the plan or solicit participation in the plan through mass mailings, telemarketing, national advertising, computer communications or any other means by which person-to-person contact with the prospect is not present. The effective communication is permitted subject to approval of such media communication from the company.
17. Obligations are Not Allowed
No IBO shall represent that there is any obligation from him/her to purchase the product and/or services under iRICH Compensation Plan. Or be made to believe that by the said purchase they will get earnings easily. If the company receives any reasonable or credible information that any sale has been made out on the obligations or false representations, then the IBO-ship of such an IBO will be terminated immediately without any prior notice.
18. Sign Board
An IBO of iRICH Work & Play India Private Limited has to seek written approval from the company for using iRICH Work & Play India Private Limited Sign Board display in his/her/their personal office premises irrespective of whether it is visible to the public or not. For seeking approval, the IBO should send a detailed description of the Sign board size and location of the display. The company reserves the right to withdraw permission to display iRICH Work & Play India Private Limited name. If the standards stated are not met.
19. Sign on Vehicle
An IBO may use the iRICH Work & Play India Private Limited or its trade name iRICH, trademark, logo type, design or symbol on any vehicle only with prior written consent from the company. We suggest using only those manuals that are officially launched by the company.
20. Telephone
No IBO Is permitted to list his or her personal telephones In the name of the company.
21. Fund-Raising Events
iRICH Work & Play India Private Limited products are not authorized to be used in conjunction with any type of fund raising activity. Fund- raising Includes the solicitations for the purchase of iRICH Work & Play India Private Limited products and services based on the representation that all or a portion of gains, proceeds or profits generated by such will benefit a particular group / organization or cause Any program, activity or promotional event organized by iRICH Work & Play India Private Limited should not be utilized for any other personal promotion at personal financial benefit.
22. Accounts with the Banks
No IBO is permitted to open any account with the banks in the name of iRICH Work & Play India Private Limited or issue cheques by name of the company or use any logos, which express or simply the involvement of the company. Violation of the same will result in punitive action.
23. Enforcement of Code of Ethics
Violation of the iRICH Work & Play India Private Limited Code of Ethics effect may have on the business of any individual IBO and also on the public at large including image of the Company. Therefore it is essential on part of every IBO to comply with the terms and conditions envisaged in the Code of ethics, Online Agreement, Registration Application form, Terms and Conditions and if any other agreed, amended terms and conditions, in order to safeguard the Interest and reputation of iRICH Work & Play India Private Limited. If any IBO violates the Code of Ethics or any other agreed terms, disciplinary action will be initiated against him / her either by terminating or suspending or penalizing or seeking action through legal recourse.
24. Complaint Procedure
When the complaint is received against any of the IBOs, immediately the said complaint will be scrutinized. If prima facie the information furnished / received appears to be true, the IBO will be placed under suspension with immediate effect and notice will be issued later.
25. Suspension
1: During the suspension period, the IBO will not be entitled for any commissions on the business transmitted by his group IBO’s And shall not be entitled for attending company organized meeting and company sponsored foreign and domestic trips.
2: The Independent Business Owners against whom allegations are leveled will be served with a show cause notice by giving reasonable time for explanation. On receipt of such notice, if no explanation is submitted to the company within the specified time, it is deemed that the IBO is guilty of charges: otherwise explanation shall be placed before the legal department along with evidence, if any. If the explanation satisfies the company, suspension: will be raised otherwise the company is at liberty to conduct an enquiry by its legal department on the complaint, if allegations are proved, the company will impose suitable punishment which may result in termination of IBO-ship and also can take legal steps in the court of law.
26. Termination by the Company
The Company by suo-moto, at its discretion and with or without notice in writing to an IBO, can terminate the authorization to operate as an IBO, if one or more of the following occurs:
1: If the IBO provides false Information in his application.
2: If the IBO makes misrepresentation of ‘iRICH Work & Play India Private Limited or company or iRICH Compensation plan.
3: If the IBO breaches any of the Code of Ethics Terms.
4: Any kind of communication which reflects iRICH Work & Play India Private Limited as a Company or as a Program In a negative light.
5: Any kind of behavior which is socially not acceptable and which could offend the values and objectives of the iRICH Work & Play India Private Limited.
6: Promoting / recommending any other products and services other than iRICH Work & Play India Private Limited by using the platform infrastructure and the network of iRICH Work & Play India Private Limited.
7: Misguiding other IBOs on the Integrity and activities of iRICH Work & Play India Private Limited.
8: If the IBO (or, if the business comprise two or more Individuals, any of those persons) is convicted of an offence punishable by imprisonment.
9: If the IBO (or, if the business comprises two or more individuals, any of those persons) is suspended or debarred from practicing his usual trade or professional by any association, institute or professional society.
10: If the IBO becomes the subject of bankruptcy or winding up proceedings.
11: In case IBO's fall to pay due amount of products obtained on credit by the company under good faith.
27. Termination Effect
1: Termination of the IBO’s authorization to operate as a iRICH Work & Play India Private Limited IBO means termination of all rights derived from the said authorization and In conjunction therewith, the right to receive any further income from or generated by such business accruing after the date of suspension / termination.
2: Termination shall be effective from the date specified by iRICH Work & Play India Private Limited in its written notice / E Mail to the IBO addressed /E Mail to available address as per the records.
3: Upon termination of his/her authorization as an iRICH Work & Play India Private Limited IBO for any cause whatsoever, he/she shall forth with.
a) Cease to use all trademarks, trade names, Insignia or other intellectual property used in or related to iRICH Work & Play India Private Limited business.
b) Cease to identify himself/herself as a iRICH Work & Play India Private Limited IBO. In the event that iRICH Work & Play India Private Limited terminates an IBO, then he/she will have no claim against iRICH Work & Play India Private Limited arising out of or in respect of the termination.
4: On termination iRICH Work & Play India Private Limited will buy back any unsold but saleable products, including promotional material and credit the actual purchase price after deducting the handling charges up to 15% and deducting any other benefits received by the IBO, based on the purchase of the goods returned.
28. Legal & Jurisdiction:
If the IBO intends to question the decision of company, he may raise any dispute on such decision under Arbitration and Conciliation Act, 1996 All disputes are subject to jurisdiction of competent Courts In GOA irrespective of having concurrent or similar Jurisdiction by any other courts In India or abroad.