The Company is a Travel Agency is mainly engaged in retail of Tour Packages. Apart form selling directly, the company is marketing its packages through a Business plan, which is based on rewards & incentives but is subject to terms and conditions detailed elsewhere. To start with an Individual has to join as a “Business Travel Associate” under which he purchases a Travel Plan(s)/Package of the Company for a payment of a requisite price (as determined by the company) and thereafter a system is evolved for the selling and marketing of the company’s Travel Plan(s)/Package. He thus becomes eligible to a whole number of rewards & incentives, which are detailed below.

The whole reward & incentive plan has three constituents

• Cash Back incentive
• Grace Royalty
• Rewards

Cash Back Incentive (Bronze Package)

 

Those associates who purchase silver packages they will get Rs.500/- after completion of 1:2 or 2:1. After that on per pair (1:1) they will get Rs. 500/-.  Every bronze package buyer can upgrade their package Id to Gold Package by paying difference amount. of Rs. 6500/-. Bronze  Package Id cannot qualify for Bangkok trip unless he/she upgrade id to Gold Package.

 

Cash Back Incentive (Silver Package)

 

Those associates who purchase silver packages they will get Rs.1000/- after completion of 1:2 or 2:1. After that on per pair (1:1) they will get Rs. 1000/-.  Every silver package buyer can upgrade their package Id to Gold Package by paying difference amount. of Rs. 5000/-. Silver Package Id cannot qualify for Bangkok trip unless he/she upgrade id to Gold Package.

 

 

Cash Back Incentive (Gold Package)

The Cash Back incentive is based on the amount of business (Travel Plan/Packages) a “Business Travel Associate” (hereinafter called BT) can procure. The moment a BT registers with the Company and his payment (as discussed above) is received he becomes a business center and is automatically placed at the head of his marketing plan. The BT in itself becomes a starting point to a sequence as detailed below.

The first aim of a BT is to make a fresh pair of Business Travel Associates ( A-1 & A2) and one more BT under either A-1 or A-2 to become eligible for a trip to Thailand Package of the company (subject to the Tour package conditions). He has to insure that he makes a BT on the Left as well as the right hand and one additional thereafter (for example see Picture-1)

The next aim of the BT is to make another Business Travel Associate on both sides of his hands (left hand or the right hand). In Picture –2 (he makes C-1 & B-2), BT get eligible for a Cash-Back of a sum as decided by the company (which is presently Rs.1000.00. This is in addition to what he had got in Picture-1)

He would be additionally eligible for a cash-back incentive as per company policy (which is presently Rs.1000.00) for every pair of BT made, provided they are made on the Left as well as the right hand.

Cap on Cash Back Incentive : Notwithstanding anything contained anywhere, a BT cannot receive a sum in excess of Rs.75000.00 for any ”Payout Period under Cash Back” irrespective of the quantum of Business/due.

Payout period under Cash Back : The determination of incentive under the Cash Back will be made as at the close of every Thursday Midnight of the week (whether or not that day being a holiday). After determination of the dues to the BT, the payout would be made by cheque/draft/bank transfer or otherwise as the management of the company may decide upon. The said dispatch would be made by next Thursday.

The delay, if any, caused would be subject to force majure or other unforeseen circumstances.

Power Cash Back Unit Carry forward : In case a BT at the end of the payout period finds that on one of its hands he has more BT’s and is not supported by a pair on his other hand, then the excess on one hand would be carried forward to the next payout period

However excess pairs over 75 will be ignored. Please seek explanation & clarification on this from the company

Trimming : Notwithstanding any thing contained anywhere, the company authorizes itself to create a fund/reserve for the payment of Cash-Back incentive and can suo moto put a cap on the inventive if it feels that the said fund/reserve is in the danger of getting depleted or falls below a stipulated determined level. The decision of the management of the Company would be final in this respect.

 

Grace Royalty

After completion of 100 pairs in cash back income business associates will be qualified to avail this Royalty: Amount of Rs. 100/- from every joining will be distributed monthly to the qualified achievers.  (100 Pair will be count  1st November 2010 onwards.) * Condition apply

 

Awards/Gifts

Company will deduct 20% TDS and Service charge. Award will be calculated once in a month in between 1st to 5th of every month.

Payout period under Gift/Reward Mechanism : There is no fixed payout period for a Gift/Rewards Mechanism and a BT can claim the same at anytime. Every eligible BT will have to lodge a claim when he qualifies for a Reward/Gift After actual receipt of claim by the company, the reward would be dispatched to the Business Associate within 15 days provided the necessary Income Tax or any other tax to be deducted at source has been received by the company beforehand. The BT can exchange his reward with actual cash value of the gift as mentioned above or in lieu can purchase more travel plans. All these would be subject to applicable taxes as discussed in the preceding paragraph

Important Note

• Any payment/reward etc made under any plan mentioned above would be subject to deduction of Income tax or other applicable taxes at source.
• It is deemed and mutually understood between the company and the BT that all the payments/ rewards etc under any plan is inclusive of service tax and the sole liability of payment thereof would be that of the BT.
• The Business Associate will keep the company and its management indemnified from any financial or other liability towards non payment of taxes to be deducted at source and applicable Service Tax
• Every BT will submit attested copy of Permanent Account Number as allotted under the Income Tax Act, 1961 and a proof of residence. In case of non-availability of Pan number, the higher rate of tax will be deducted.

BANK DETAILS

A/c Name : Grace Air Travel Pvt. Ltd.
A/c No. : 030905003079

Bank Name : ICICI BANK Chowk Allahabad.