FRANCHISEE LICENSE AGREEMENT for NVRON LIFE SCIENCE LIMITED.
This Franchise License Agreement (“Agreement”) is made on____________by and between:
NVRON LIFE SCIENCE LIMITED having its registered office at V.M.Towers, B2, Selvakumarasamy Gardens, Theivanayagi Nager, Ganapathy Post, Coimbatore-641006, TamilNadu, India (hereinafter referred to as the “Company”); Represented by .
(herein referred to as the FRANCHISEE)
The Company and the Franchisee shall hereinafter individually be referred to as a “Party” and collectively as “Parties”.
A. NVRON LIFE SCIENCE LIMITED exclusively owns license to the brand “NVRON LIFE SCIENCE LIMITED ” in India, also owns, uses, promotes and licenses certain valuable trademarks, service marks and commercial symbols in connection with the operation of
NVRON LIFE SCIENCE LIMITED and has the exclusive right to manufacture and grant supply for NVRON LIFE SCIENCE LIMITED including the right to license the use of the mark.
B. The Franchisee partner has represented to the Company that he is experienced in the operation of pharma franchise and that he is desirous of securing the rights and license to use the Marks solely in connection with the establishment and operation of a franchise for retail sale of the Products licensed to the Company for sale in India.
NOW THIS AGREEMENT WITNESSETH AND IT IS EXPRESSEDLY AGREED BY AND BETWEEN THE PARTIES HERETO AS FOLLOWS:
1.GRANT AND TERM OF LICENSE
1.1.Grant of License:
Subject to the terms of this Agreement, the Company hereby grants license to the retail franchise partner to sell
NVRON LIFE SCIENCE LIMITED PRODUCTS at their franchise at TIRUPATHI.
The Term of this Agreement shall be for 3 years and shall commence on _________________. (“Effective Date”).
The Company shall have the option to renew this Agreement for an additional period of 3 years (“Renewal Term”) Against payment of
Rs 50,000/- (Rupees Fifty Thousand) . NVRON LIFE SCIENCE LIMITED will have the right to refuse to renew the agreement after expiry of the initial term if they feel the Franchisee has compromised or in any way damaged the Brand value.
2.NON REFUNDABLE FRANCHISE FEES & EQUIPMENT FEE:
Upon signing of this Agreement, the Franchisee partner shall pay the Company or to a bank account designated by the Company, the Non Refundable Pharma franchise fees of Rs 3,00,000/- (Three Lakh Rupees only).
This fee is inclusive of the Franchise Fee for 3 years.
3.RETAILER’S PARTNER MINIMUM OFF-TAKE:
The franchisee partner COMMITS procurement of minimum Rs.50,000/- per month of stock from the Company.
The company will supply the product to the franchise partner at the prices mentioned as per the company policy.
The Franchisee is advised to sell NVRON LIFE SCIENCE LIMITED at the Company suggested MRP only unless where the same is not viable due to premium locations.
5.LOCK IN PERIOD:
The franchisees partner entry into this arrangement, its duties and obligations of this Agreement shall be locked-in for a period of 6 months from the Effective Date (‘Lock-in Period’). IF the Franchisee closes his franchise and stays closed for a period of 90 days, his franchisee license for NVRON LIFE SCIENCE LIMITED and this agreement will automatically be terminated and the same may be granted to someone else enabling them to operate in or around the same location.
6.TERMS OF PAYMENT:
The franchisee partner shall receive stocks against Advance Payment of CHEQUE/CASH/NEFT into the company/designated account only.
7.CHANGE IN RATES:
The company reserves the right to revise the supply price of the product as per market standards annually. The Retail price may be accordingly revised.
8.COVENANTS OF THE RETAILER:
8.1 The franchisee partner agrees to clearly display the NVRON LIFE SCIENCE LIMITED brand at his premises. The company reserves the right to instruct and guide the Franchisee from time to time in doing so.
8.2 The Franchisee may transfer the ownership or upon expressed written permission from the Company only.