FORM-A (CLASS - 3)

AGREEMENT

ARTICLES OF AGREEMENT made at ________ this_____________ day of_____ one thousand nine hundred and ________ between the President of India herein after called the Government of the one part, and ____________(name and full address of the Individual/ Institution or organisation ).

Here in after called the Agent-leader/ Agent-organisation (which expression shall be deemed to include its successors wherever the context admit or requires) of the other part.

Whereas with review to expanding the small savings scheme the Government desires of appointing organizations of Institutions with individual women of the area concerned as authorized agents under the 'Mahila Pradhan Kshetriya Bachat Yojana' for canvassing and securing investments in Post Office (P.O.) cumulative Time Deposit/ Recurring Deposit/ Accounts.

AND WHEREAS the Agent-leader/ Agent-organisation has agreed to act as such authorized agent on the terms and conditions here in after appearing.

AND WHEREAS it is one of such terms and conditions that the Agent-leader / Agent Organisations should as security for due fulfillment of the said contract furnish to the Appointing Authority, 6-years National Savings Certificate for Rs.500.00 (Rupees five hundred) only duly pledged to the President of India or a cash security or Rs.500.00 (Rupees five hundred) required to be deposited in the Government Treasury through Treasury Challan of the Life Insurance Corporation of India and the Agent Leader. Agent Organisation has accordingly furnished 6-years National Savings Certificate No……….dated…………for Rs.500.00 (Rupees five hundred)only pledged to the President of India or the cash security of Rs.500.00 Rupees five hundred)only through …………..Treasury Challan No……………dt……….or Life Insurance Corporation (L.I.C) Fidelity Guarantee Policy No…………dated……………for Rs.5,000.00 (Rupees five thousand only).

NOW IT IS HEREBY AGREED BY between the parties hereto as follows:-

1. The Agent - Leader/ Agent - Organisation shall:-

  1. Canvass for and Secure deposits in 10 and 15 - year Cumulative Time Deposit Accounts and 5-years Recurring Deposit Accounts of the Government of India in accordance with the rules governing the two aforesaid deposit accounts.

5-years Recurring Deposit Accounts of the Government of India in accordance with the rules governing the two aforesaid deposit accounts.

The Agent-Organisations shall work the agency through not more than six/ three of its of Workers (here in after referred to as 'Authorised worker').

  1. Issue appropriate receipts for any amount received from the depositors under this scheme, in the printed receipt forms prescribed by the Government of India and supplied to her/it.
  2. Never under any circumstances after the value for which the receipt(s) form(s) and the counterfoils in the receipt book(s) are printed.
  3. Deposit the money so received in the post office to which the agent-loader/ Authorised workers is attached for, asking deposits under the scheme, within 5(five) days of receipt of the money and pending such deposit, to hold the monies in trust for and on behalf of the Government of India.
  4. Receipt from the deposit accepting post office the pass book(s) covering such and every deposit made by the Agent-leader authorized worker and deliver the same passbook to the depositor within 10 days of receiving from them the post office.
  5. Obtain from the depositors the receipt(s) issued by the Agent-leader/authorized worker to him/her and his/her……….with signature and date of the counterfoil of the concerned receipt in token of having received the passbooks.
  6. Notify immediately to the Appointing authority the District Organizer, National savings of the areas and the local police of the area of the less of receipt-book(s)/certificate of authority if such loss taken place while the documents are on the custody of the Agent-leader/authorized worker and to publish the loss as a public notice in at least one local news paper at her/its cost.
  7. Follow all directions and instructions as may be issued to her/its from time to time by the Government of India or by person as authorized by the Government.
  8. Not claim commission on the depositors received and recorded in the receipt book which have been lost.
  9. Carry out the obligations developing on her it under the agreement faithfully and diligently and to the best of her/its allot to promote the said scheme.
  10. Not assign or otherwise transfer the benefit of this agency or any part6 thereof to a third party.
    1. The Agent-Leader/Agent organizations shall be entitled to receive a commission (at such rate as may be notified by the Government of India from time to time) on total investments, received and completed according to the aforesaid terms and conditions in the P.O. Cumulative Time Deposit Accounts and P.O. Recurring Deposit. Accounts from the depositors residing in the area for which she/it is authorized. The commission shall be payable by the passing authority on submission of commission claim to her/it in the prescribed manner. The Agent-Leader/Agent organization shall not be entitled to any other commission recommendation payment what so over for the work done under these present except the commission as aforesaid not withstanding any expenses she/it may incur for the purpose. The agency would be liable to be terminated by the Government without assigning any reason to the Agent-Leader/Agent-Organisation. The Agent-Leader/Agent-Organisation shall be responsible for the return to the Appointing authority of all the documents and the papers concerning the Agency immediately on termination of the agency or as and when called for by the Appointing Authority. The Agent -Leader/Agent-Organisation shall indemnify the Government of India against any or all loses or claims that may arise on account of the default if the Agent-Leader/Agent Organisation or its authorized worker(s).
    2. The Government shall be authorized to appropriate the whole of any part of the encashment value of the aforesaid National savings certificate pledged or cash of the Rs.500/- or the fidelity guarantee furnished as security in or towards satisfaction of the amount of all or any damages, penalties and other sums which the Agent-Leader/Agent organizations may have become liable to pay hereunder in case she/it fails to perform fulfill, keep or observe all or any of her/its obligations under this agency. The agent-leader/Agent organization shall pay the Government any sums in excess of the value of the National Savings Certificate pledged cash security or fidelity guarantee furnished by her/it which may become recoverable from her/it and on her/its failure to pay to Government such sums from the Agent-Leader/Agent Leader Organisation as an arrears of land revenue.
    3. All disputes arising under or concerning the terms of this Agreement or in any manner relating to this Agreement shall be referred to the sole arbitration of the Postmaster General of the Postal Circle concerned whose division shall be final and binding on the parties and such reference shall be governed by the arbitration Act-X of 1940 or such statutory modification thereof as may for the time being be in force.
    4. The stamp duty on this Agreement will be paid by the Government IN WITNESS WHEREOF THE PRESIDENT HAS caused the________to set his hand and_____ (Designation of the Appointing authority).

                _______has /have set his/her/their hand on behalf of_________(the Name of  the Agent/ Agent                          Organisation) the day, month and year first                  herein above written signed and on behalf of                          _______(Name                of Agent-Leader/ Agent Organisation)._______. In the presence of              _______    (signature and address of witness)________signed and delivered by the _______(Name and                         designation of the Appointing Authority) for and on behalf of the President of India in the presence                         of_________ (signature and address of witness):-

                                             

place:                                            Signature…………………………………..

                                                                  (Designation of the appointing Authority)