Joint Business Venture Terms and Conditions
January 6, 2021
EFFECTIVITY: 01JAN 2021
1. JV is allowed primarily for active distributors ranks 1A to 4A only
2. Upline and Downline established this JV for purposes of accommodating 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.
3. The term of the 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 or until the downline attained the 5A rank as distributor whichever comes earlier.
4. Discontinuance or termination of this agreement shall be made in writing by mutual consent of the Upline and Downline.
5. Only rank 6A with no accountabilities, updated official receipts issued, updated consignment liquidations, with clean records are allowed to enter into JV with direct downlines or lower rank distributors within the group. No cross line, no Upline.
6. 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.
7. 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.
8. JV submitted to Enagic Philippines Inc. has to be notarized.