Joint Business Venture Terms & Condition
June 16, 2021
EFFECTIVITY: 16 JUNE 2021
1. Upline and Downline established this JV for purposes of accomodating commissions of the Downline from business with Enagic Philippines Inc. Thru Upline’s issuance of it’s Official Receipt, while the Downline is processing its BIR registration and acquisition of its own official receipt.
2. The term of the Joint Venture Agreement shall commence on the execution date and shall continue until the downline has completed BIR registration and has the capacity to issue own official receipt.
3. Discontinuance or termination of this Joint Venture Agreement shall be made in writing through cancellation letter by mutual consent of the Upline and Downline.
4. Downline may share commissions with the Upline to cover taxes that the Upline may incur in the event that the accomodated commissions shall become taxable.
5. Only distributors with no accountabilities, updated official receipts issued, updated consignment liquidations, with clean records are allowed to enter into Joint Venture Agreement as an Upline, regardless of their rank and group line.
6. Qualified Upline and Qualified Downline are allowed to enter into Joint Venture Agreement whether they are belong in the same group or cross line, as long as the Qualified Upline was higher or atleast in the same rank with their Downline.
7. Joint Venture submitted to Enagic Philippines Inc. has to be signed by both parties and shall be notarized.
8. It is the responsibility of the Downline to monitor and ensure that commissions are covered by official receipts that the Upline shall issue as soon as Statement of Account (wherein commissions of the Downline is reflected) is received from Enagic Philippines Inc.
9. Enagic will be performing verification with the Downline regarding the percentage of share indicated in the Joint Venture Agreement Form.
10. Joint Venture Agreement list of requirements:
Fully signed and notarized Joint Venture Agreement Form.
Scanned valid ID of both Upline and Downline.
Accomplished clearance form from Consignment, Compliance, Collection Department.