Laurels Products Private Limited

PROCEDURE TO SIGN UP

1. Franchise shall need to sign up an LOI before getting into the discussions about the agreement by paying Franchise fee in total 100% (i.e. 3 lacs)
2. Once the LOI is signed up then company will issue a Letter of Authority to the party for involving in discussions, finalization and Signing of Agreements
3. The Day when the both the parties execute the agreement in two copies and exchange it, is considered to be the start of agreement and to start the assignment of Lots. Also the remaining payment shall be done on the same day by Franchise.
4. Company seeks NDA (Non Disclosure Agreement) from the Franchise to maintain confidentiality over the Raw Materials Used / Stock Produced etc. Franchise will be fully responsible if any terms of NDA or voided and Company will seriously considers it and executes the actions which are specified in NDA
5. Company will Dispatch the Raw Materials to Franchise in a time span of 4days to 7 days after the NDA is made at max from the Company.
6. Both the Parties need to appoint Dedicated QC In charges for their Plants in exchanged manner for training(i.e. QCI of Franchise will work at Franchisees Unit and QCI of Franchisee will work at Franchises Unit). However, Salary, Accommodation and other expenses of concerned QCIs have to take care by their Employer only.
7. After Receiving the Raw Materials Franchise can start working with Dipping and Packing Process and dispatch back with the finished products by issuing an Invoice copy for stock transfer along with the QC Report 1 Issued at Franchises Unit.
8. After Receiving, The Finished Products, QC Report1 and Invoice Copy, Company will initiate to generate the QC Report 2 by the QCI of Franchise.
9. If both the QC Reports are matched up to 90% Accuracy, then Company will release the payment to Franchise as promised.
10. All the Financial Transactions mode will be either Cheque/DD/RTGS Only. No Cash Transactions are allowed at any stage.
11. Franchise has to execute at least 1 Premium lot and 1 regular lot per month and maximum as decided by the company.

If the Franchise is having higher production capacity then the investment calculations will be multiplied accordingly.