UNDERTAKING TO OPEARTE CUSTOMER SERVICE POINT
I,…………………………………………………………………………….. aged about …… years son of …………………………………………………………………., resident of …………………………………………………., P.S. – ……………………., District – ……………………….. (…………………………..) do hereby undertake, declare and solemnly affirm on oath as follows:
1 . That SAVE Solutions Private Limited, a Company incorporated under the Companies Act 1956 having its registered office at House No. 125, Ward No.8, Gulab bagh Pahari, Gaya (Bihar) – 823001 (hereinafter referred to as “the Company” for the sake of brevity), has been selected as National Business Correspondent of the State Bank of India (SBI) for providing service(s) in order to facilitate banking business growth by opening CSP (Customer Service Point) of SBI and allied services connected therewith.
2 . That the Company is fully entitled to facilitate the banking business growth and also authorized to open up the Customer Service Point (CSP), also termed as “Kiosk Banks” in all locations throughout the country on their own accord or through their sub-contractor(s).
3 . That I have expressed my desire to open CSP (Kiosk Banks) as sub contractor of the Company and have submitted an application to this effect alongwith other requirements.
4 . That upon consideration of my application and believing on me in good faith, the Company has agreed to allow me to open CSP (Kiosk Banks) at ……………………………………………………………………………………….. with a view to improve the services of CSP and allied work of Business Correspondent for and on behalf of SAVE Solutions Private Limited.
5. That I shall open, run and develop Kiosk Banking Services in form of CSP (Customers Service Point) of SBI under the guidance, supervision, management, control and instructions of the Company.
6 . That I say that all instructions/ directions/ notifications/ rules/ guidelines issued by the Company during course of my working as CSP In-charge would be binding upon me.
7 . That the Company has agreed to supply sufficient product information, technical details, brochure /product brochure to me for proper functioning of CSP.
8 . That I will furnish a letter of confidentiality of fidelity in favour of the Company and further undertake and agree to accomplish the assigned work and provide services diligently and honestly to the Customers, i.e., to say:-
a) I will create awareness about saving and other products offer by the SBI and educate and advise the local people on managing money and debt counselling;
b) I will make collection and preliminary processing of loan applications including verification of the primary data;
c) I will create, promote, nurture, monitor and help in handling of Self Help Group/Joint Liabilities Groups and others;
d) I will promulgate and propagate policies of SBI Life Insurance and other micro insurance(s) / mutual fund(s) /pension scheme(s) and other third party products of SBI, as may be decided by the Company;
e) I will organise meetings, fetes, fairs and exhibitions for creating awareness and propagation of business on my own cost;
f) I will work for enrolment of customers and facilitate opening of new bank accounts of SBI in the given area;
g) I will ensure proper maintenance of all kinds of records, accounts, documents, registers relating to deposit and withdrawal of money in respect of all the customers;
h) I will inform the linked branch of SBI as well as the Company with respect to closure of accounts, death of account holder, deactivation of account etc.;
i) I will ensure identification of borrowers and fitment of activities;
j) I will upload all kind of data / files by visiting linked branch of SBI;
k) I will disburse small value credits strictly as per instructions given by the Company;
l) I will facilitate and cooperate in conducting assessment, review, inspection or audit of the CSP from time to time either by the Company or any authorized person(s) by the Company or by the SBI and to bear all expenses, cost and charges in connection therewith;
m) I will undertake any other service or services as may be advised, assigned or entrusted by the Company;
9 . That I shall make all investments for building the infrastructure for establishing CSP (Kiosk Banks) and shall bear all expenses for opening up and running the same. Such expenses include, but are not limited to, cost of purchasing Software of the Bank, Stationery, Internet Connectivity, legal expenses, rent / maintenance of the premises (either leasehold or freehold) and payment of wages to the manpower engaged in accordance with prevalent laws, rules & regulations.
10 . That I shall deposit a sum of Rs. 25,000/- (Rupees Twenty five thousand only) in the account of the Company as security amount. The said security amount shall be subject to forfeiture in case I commit any violation of terms & conditions of this undertaking or in event of commission of any fraud, misappropriation, criminal breach of trust or any other offence either by me in personal capacity or by any of the person(s) engaged by me for performing the services. I further undertake to pay the amount of compensation or loss as assessed by the Company at the relevant time by way of cheques or bank drafts or NEFT/RTGS.
11 . That I shall arrange a premise, covering not less than 400 sq. feet of carpet area, which would be free from all litigations and legal embargo. I shall furnish a self attested Xerox copy of either lease agreement with the landlord of premises or admissible document with respect to the title & possession of the premises. Apart from that I shall furnish detailed information pertaining to me such as name, testimonials of educational qualifications, address, identity proof, address proof, PAN CARD, two passport size photographs and reference/certificate of two reputed persons of the locality where CSP / Kiosk Banking is proposed to be established. In addition to that, I shall also furnish surety of two persons having permanent job either in State Government or Central Government.
12 . That I shall, directly or indirectly, not divulge any trade secret or know how or vital information regarding business or premises of the Company, which comes to my knowledge in course of performing the work entrusted, to any other person engaged in similar trade with a view to causing wrongful loss to the Company and wrongful gain to such other person, failing which the Company shall be at liberty thenceforth to block the code and terminate my Kiosk banking.
13 . That I shall not do or perform any kind of business similar to the nature of the business being assigned to me as CSP or get any such business to be carried out by my employee or staff or person engaged. However, the Company will be at liberty to assign business of similar nature either to me or my employee or staff or any other person in the same locality in a different premises and I shall have no objection to the same in any manner whatsoever, nor shall I cause any hindrance or objection in any such and similar business decided to be carried out by the Company.
14 . That I shall represent myself as the “CSP IN-CHARGE” or “KIOSK OPERATOR” (in short ‘KO’) only for the area mentioned in paragraph 4 of this undertaking and fully detailed under Annexure ‘A’ and shall bear full and complete obligation and responsibility for smooth functioning and diligent performance of service/work of CSP, i.e., to say:
i) Bear full responsibility with respect to work & function of CSP and ensure to provide all services pursuant to instructions of the Company;
ii) Uphold and maintain the dignity of banking services;
iii) Maintain and furnish to the Company, full details of persons engaged by me in any capacity with respect to working and functioning of CSP and to discharge all legal or contractual obligations towards such persons on my own alone;
iv) Create awareness among customers and people associated with CSP by educating them of common banking regulations by way of displaying different boards such as “Do’s & Don’ts”, information of products, code of conduct of banking service etc.;
v) Secure insurance and take all necessary steps for safety and security of the premises, property and life & health of all persons associated with CSP;
vi) Ensure that not a single paise is taken in cash from any customer or other person(s) with promise to deposit in his/her account and in event of any such illegal receipt to bear entire responsibility and indemnify the Company from any such liability;
vii) Initiate appropriate legal action against the erring person within twenty four hours of commission of any offence in my premises and inform the Company at once in writing. In event of any default in this respect, whole responsibility shall be borne by me and the Company shall have absolute right to take appropriate legal actions against the culprits including me;
viii) To open a current account either in the name of CSP or in my individual name in the linked branch of SBI where CSP is to be opened and run and compulsorily maintain, at all times, a minimum balance of Rs. 50,000 (Rupees Fifty thousand) in my account as transaction right for conduct of smooth business;
ix) Indemnify the Company from any act of omission or commission in course of performance of banking services in the CSP and also to indemnify severally or jointly against any loss, liability or expense (including attorney’s fees and expenses) resulting from any claim of any person/customer;
x) Indemnify the Company from failing to act or delay in acting if such failure or delay is caused by any legal constraint, interruption of transmission or communication facilities, equipment failure, war, emergency conditions or transaction’s failure on the part of the Bank, or other circumstance(s) which may be beyond the control of the Company.
15 . That I shall devote full time, energy and skill as required for performance of my duties and/or work of CSP and will also exercise due care for expansion, proliferation and improvement of the business and products of the Company as allotted by SBI.
16. That the Company shall have absolute and unfettered right and authority to monitor and assess the performance of my services including full and absolute right to stop or block the code allotted to me as also to the system of financial control without assigning any reason at any time.
17 . That I shall not act as or designate myself as the agent or representative or employee of the Company and neither me nor any person associated with me as staff, employee, sub kiosk operator shall be entitled to enter into any sort of agreement for or on behalf of the Company with any person/ individual/ Company/ Firm/ NGO/ Society/ Corporate body etc..
18 . That I shall not claim ownership or goodwill of the CSP or its code as allotted by the SBI and I shall never transfer, sale, mortgage or lease my CSP to any other person or persons.
19 . That I shall use only those seal and stamp only which will be provided and approved by the Company. Similarly, I shall use only those boards, hoardings, banners, advertisement captions /pamphlets /leaflets etc. as designed and/or confirmed by the Company.
20 . That I shall regularly submit status report, at such intervals that may be decided by the Company, regarding performance of work entrusted to me or undertaken by me to the Company along with substantial documentary evidences by e-mail as also in hard copy.
21 . That I shall abide by the rules / regulations / norms / guidelines / instructions of the Company and the SBI.
22 . That I say that the association in between the Company and me is purely on contractual basis and it does not confer any right on either of us to claim any business relationship with each other in future. I say that all rights and liabilities in between the Company and me shall be determined during subsistence of our association and shall subject to successful business as per instructions and guidelines issued by the State Bank of India and subject to observance of terms and conditions herein.
23 . That the Company shall allocate me an amount equal to 60% (sixty percent) of total bills submitted by me for the work of Customer Service Point, after deduction of necessary taxes as applicable. I shall submit the concerned bill(s) on or before last day of each month and the allocation of amount as aforesaid will be made by the Company after 15 days from receiving the payment of bills from the concerned office of the State Bank of India or Bank of India, whichever is applicable. Apart from that the Company, in its absolute discretion, may pay additional handling charges up to 20% (Twenty percent) of total successful work of the CSP. This structure of allocation of charges may be modified by our mutual consent. I say that the terms “bill”, “charges” and “additional charges” denote and incorporate all compensations and claims by me in connection with my work/job and I or my staff or employee or representative, in no way, shall be entitled to any kind of extra compensation or claim for loss sustained in case of failure of the business.
24 . That in case of failure of providing services/works/functions of CSP / Kiosk Banking or allied business connected therewith by me, the Company shall have full right to terminate the right to operate CSP with immediate effect and the Company shall have full right to take over my CSP / Kiosk Banking or allied business connected therewith in its own command, control & management and further to entrust the said CSP / Kiosk Banking or allied business connected therewith to another person for further growth of the business of the Company and in such eventuality, I shall have no right to enforce any terms and conditions whatsoever in between the Company and me.