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CONSENT LETTER/ AGREEMENT FOR SHARING INFORMATION

This Agreement is made and entered on this_________ day of …………………… 2017 between:

……………………………………………(Seller’s full name has to be mentioned, i.e, Company/ Partnership/ Proprietorship/Private Limited Company), and having its Registered Office ……………………………………………………… (Hereinafter referred to as “SELLER” which expression shall unless it be repugnant to the context thereof shall deem to mean and include its affiliates, heirs, partners, successors and permitted assigns) of the ONE PART;

AND

FORTUNE E-COMMERCE, a PRIVATE LIMITED Company under ICA of 2013of India, with its registered office at XANADU,1059,Poompuhar Nagar,Kolathur,Chennai - 600099 (hereinafter referred to as “MYFORTUNEBASKET” which expression shall unless it be repugnant to the context thereof shall deem to mean and include its successors and permitted assigns) of the OTHER PART;

SELLER and MYFORTUNEBASKET shall be individually referred to as “Party” collectively as the “Parties” and, where required, severally by their respective names as more particularly mentioned herein.

WHEREAS

A. MYFORTUNEBASKET owns and operates the e-commerce platform www.myfortunebasket.com (“PLATFORM”)

B. The SELLER is one of the registered sellers on the Platform (having seller ID ……………………..) and intends to seek financial aid from third party lenders towards the working capital/ for running business on the Platform. Such third party lenders require certain information pertaining to the Seller for evaluating eligibility/ credit worthiness before disbursing any loan amount towards the working capital.

C. The seller has requested MYFORTUNEBASKET to share such information to such third parties as may be required from time to time without seeking separate consent every time whenever there is a requirement. Seller is completely aware that such information will be disclosed to various third parties by such lenders including internally within MYFORTUNEBASKET for the purpose of this agreement and is fully aware of the consequence of the disclosure thereof.

D. Notwithstanding anything contained in any other agreement or the Seller Terms and Conditions on the Platform, which the seller has already agreed to, seller hereby grants express permission to MYFORTUNEBASKET for sharing certain data identified below to such lenders. These recitals shall form part an integral part of this agreement.

NOW, THIS AGREEMNT WITNESSETH AS FOLLOWS:

1. Validity and Termination: This agreement shall be valid perpetually unless Seller otherwise notifies MYFORTUNEBASKET by a 30 days’ written notice. Either Party may terminate this Agreement by serving 30 days written notice to the other Party in advance, without assigning any reason. The seller shall not hold MYFORTUNEBASKET responsible for any disclosure made under this agreement during the notice period of termination.

2. The information sharing consent provided by signing this agreement will be with reference to the below information and such other information as may be determined by parties from time to time.

          a. Products or services sold by the Seller

          b. Sales Data pertaining to all sales by the seller at myfortunebasket.com

          c. Details pertaining to product Returns by customers of the seller.the seller

3. Cancellations request for the orders placed to the Seller on myfortunebasket.com

          a. Details of Disputes raised in relation to the Seller.com

          b. Customer feedback score

          c. Details of payments transferred

          d. Any other information as may be requested from time to time.

4. The seller hereby expressly authorizes MyFortuneBasket to share, by any mode whatsoever, MyFortuneBasket may decide in its sole discretion, communicate to such related parties if required.

5. It is hereby expressly agreed that seller has no objections in MyFortuneBasket sharing such data and is totally aware of the fact the lenders may be sharing such information as such lender may deem fit. Seller shall not hold Fortunebasket responsible for any consequences arising out of use of such data by Lenders.

6. Indemnity: Seller agrees to indemnify, defend and hold harmless MyFortuneBasket its Affiliates, directors, officers, representatives, employees and agents from and against any and all claims, actions, suits, proceedings, costs, damages, judgments, amounts paid in settlement and expenses (including without limitation reasonable attorneys’ fees incurred by Fortunebasket as a result of, arising from, any breach of any representation, warranty of the Seller under this Agreement.

7. Notices: Any notice, documents, information, direction and any other communications required or permitted to be given hereunder shall be sent in writing and sent by courier or by facsimile to the relevant addresses set out in the agreement.

8. Relationship: Both the parties under this Agreement are independent contracting parties. Nothing in this Agreement shall be deemed to constitute a partnership between the Parties or constitute any Party the agent of any other Party for any purposes or create any employer-employee relationship between the parties.

9. Severability: If any provision or any portion of a provision of this Agreement is or becomes invalid or unenforceable, such invalidity or unenforceability will not invalidate or render unenforceable the entire Agreement, but rather the entire Agreement will be construed as if not containing the particular invalid or unenforceable provision or portion thereof, and the rights and obligations of the Parties will be construed and enforced accordingly.

10. Waivers: Failure by either of the Party to enforce any provision of this Agreement shall not constitute a waiver of any other provision hereof or of the rights of either Party hereunder, in that instance nor shall it amount to waiver of that particular provision in any other instance.

11. Entire Agreement: : To the extent of the subject matter herein, this document contains and records the entire Agreement between the parties, in the subject matter hereof and supersedes all prior Agreements, arrangements and understandings between the parties, written or oral, on the subject matter herein.

12. Counterparts: This Agreement is executed in two sets, each of which shall be deemed to be the original and both when taken together shall be deemed to form a single document.

13. Dispute Resolution: Any dispute arising between the parties as to meaning, construction, interpretation or breach or non-fulfilment of term and conditions of this agreement shall be referred to arbitration, in accordance with the provisions of Arbitration and Conciliation Act, 1996 or any statutory amendment thereof. The disputes, if any shall be referred to the arbitration of a sole arbitrator to be appointed by the parties herein. The decision of the sole arbitrator shall be final and binding on both the parties and the arbitration proceedings shall be held at Chennai.

14. Jurisdiction: The Courts in Chennai shall have exclusive jurisdiction, in respect of any matter arising in connection with this Agreement.

IN AGREEMENT THEREOF THE PARTIES HAVE SIGNED THIS AGREEMENT ON THE DATE INDICATED ABOVE.

For Seller                                                                  For Fortune e-commerce Pvt. Ltd

Name ………………………………………………                Name: K.M.DEVADAS

Signature………………………………………………           Signature ……………………………………..

 

………………………………………………………………………..…………………………………………………………

Send in the filled in agreement to below address:

FORTUNE e-COMMERCE P LTD

XANADU,1059,10TH STREET,

POOMPUHAR NAGAR,

KOLATHUR, CHENNAI – 600099