Business Builder Agreement

 

I UNDERSTAND AND AGREE THAT:

1. I am legally competent to enter into this agreement.
2. I shall become a contractor of MYPORTFOLIOVAULT CC.
3. I shall have the right to buy and sell goods/services from MYPORTFOLIOVAULT CC’s contractors/ suppliers. I acknowledge that, in order to receive a commission/bonus, I must present my membership number at the time of any transaction entered into with MYPORTFOLIOVAULT CC, MYPORTFOLIOVAULT.COM and contractors.
4. Upon acceptance of this application by MYPORTFOLIOVAULT CC, I will become an independent contractor responsible for my own business and that I will not be an employee of MYPORTFOLIOVAULT CC, nor will I be treated as an employee in regard to any laws, ordinances, regulations an rules governing employees, including but not limited to income tax, business licenses, laws relating to employment or any other matter which might be relevant or applicable. It is my responsibility to pay income tax and other levies as required by law.
5. I will not use the MYPORTFOLIOVAULT CC trade name and/or trademarks, except in the advertising provided to me by MYPORTFOLIOVAULT CC, or in any other advertising without prior written approval by MYPORTFOLIOVAULT CC. I further acknowledge that the MYPORTFOLIOVAULT concept and marketing programme is solely the property of MYPORTFOLIOVAULT CC and is protected by copyright as such.
6. All information provided by MYPORTFOLIOVAULT CC, the know-how, setup, information concerning the marketing plan, training modules and operations of the business, is sensitive and confidential and that disclosure thereof to others would be damaging to businesses.
7. I will not disclose any information regarding this business, know-how or setup to any other person who has not also signed and dated this agreement, except to secure their membership, in which case I agree to obtain their consent to maintain such confidentiality. “Information” shall include the fact that the opportunity is available. The term “information” does not include any information which is, or becomes, generally available to the public or is already in my possession.
8. Any MYPORTFOLIOVAULT CC Business Builders who sell membership to potential members must fulfil the obligation of performing a bona fide supervisory function concerning the purchase of MYPORTFOLIOVAULT CC contractor’s products. Members must have ongoing contact, communication an management supervision with their down line, examples of such supervision may include, but are not limited to, newsletters, written correspondence, personal meetings, telephone contact, training sessions, e-mail, accompanying individuals to training sessions, sharing genealogy information with those members recruited. Members should be able to provide evidence to MYPORTFOLIOVAULT CC management of ongoing fulfilment of responsibilities.
9. The term of the MYPORTFOLIOVAULT CC membership agreement is one year, subject to the provision in Paragraph 4, and members who wish to continue their membership must apply for an extension of such membership 30 days prior to expiry of this agreement.
10. The position of a member and/or contractor does not constitute the sale of a franchise nor of a consultancy, and absolutely no fees are or will be required from the Business Builder for the right to purchase contractor’s products/services pursuant to this agreement, other than applicable fees for membership and administration fees. These fees are non-refundable. The agreement is not intended as and shall not be construed to create a relationship of employer-employee, agency, partnership or joint venture between any member, sponsor and/or MYPORTFOLIOVAULT CC.
    1. I shallabide by any and all government and local laws, ordinances, rules and regulations pertaining to this agreement and/or the acquisitions, receipt, holding, selling, distributing, advertising and purchasing of contractor’s products/services.
    2. At my own expense, I shall make, execute or file all such reports and obtain such licenses as are required by law or public authority with respect to this agreement and/or the receipt, holding, selling, distributing, advertising and purchasing of contractor’s products/services.
    3. I shall be solely responsible for declaration and payment of all government and other taxes, revenue stamps and levies as may accrue because of the member’s activities in connection with this agreement.
    4. All cheques must be made payable to MYPORTFOLIOVAULT CC and be marked “Not Negotiable”. The words “or bearer/of toonder” must be crossed out and marked “ONLY”.
    5. I acknowledge that membership cards (if so issued) are not credit cards. The purposes of such cards are for notification of membership of MYPORTFOLIOVAULT CC to third parties and to entitle members to receive the commission/bonus payable by MYPORTFOLIOVAULT CC.
    6. I acknowledge that the business of MYPORTFOLIOVAULT CC is to promote and advertise the products/services of MYPORTFOLIOVAULT CC, MYPORTFOLIOVAULT.COM and of the contractors of MYPORTFOLIOVAULT CC.
    7. I acknowledge that membership in MYPORTFOLIOVAULT CC does not entitle any member to any additional credit or discount at time of purchase from MYPORTFOLIOVAULT CC, MYPORTFOLIOVAULT.COM or their contractors. All commissions/bonuses will be paid to me by MYPORTFOLIOVAULT CC and not by contractors.
    8. I acknowledge that any application for any other service, dealership, personal loan, business loan, credit support or group insurance scheme shall be dealt with under a separate application form. 
11.  Prior written approval from MYPORTFOLIOVAULT CC is required for the following:
    1. To advertise MYPORTFOLIOVAULT CC contractors’ products/services.
    2. Issuance of a member position in a company or corporate name.
12. This agreement may be cancelled forthwith by MYPORTFOLIOVAULT CC, or at any time thereafter, should I join or contract with any person, company, association or body whatsoever that carries on the same business or has the same objectives as MYPORTFOLIOVAULT CC. I undertake to notify MYPORTFOLIOVAULT CC forthwith should any other member so join or contract.
13. This membership may be cancelled if I commit any act that, in the opinion of MYPORTFOLIOVAULT CC, is prejudicial to the interests of MYPORTFOLIOVAULT CC, MYPORTFOLIOVAULT.COM and/or contractors.
14. INDEMNITY: The Business Builder indemnifies and holds MYPORTFOLIOVAULT CC harmless against all claims, demands, fines, penalties, actions, proceedings, judgments, damages, losses, costs, expenses or other liabilities caused by the Business Builder, whether negligently or otherwise, by non-observance of or non-compliance with his or her duties and obligations in terms of this appointment or the terms and conditions of MYPORTFOLIOVAULT CC and MYPORTFOLIOVAULT .COM.
15. This agreement constitutes the entire agreement between the CONTRACTOR and MYPORTFOLIOVAULT CC and no other additional promises, representations, guarantees or agreements of any kind shall be valid unless in writing and signed by both parties.
16. This agreement shall be governed by the laws of the Republic of South Africa and all claims, disputes and other matters between the parties of this agreement shall be brought in the Magistrate’s Court, George or the Supreme Court, Cape Town.
17. As for the purposes of this agreement I choose domicilium citandi et executandi as entered in the previous screen that is part of this agreement.
18. I acknowledge that I have read, understand and agree to these terms set forth in this agreement.