Buy Back Policy - GREYSTAR BIOTECH PRIVATE LIMITED

Buy Back Policy

Effective Date: [Insert Effective Date]

GREYSTAR BIOTECH PRIVATE LIMITED ("Company", "Greystar Biotech", "we", "our", or "us") is committed to conducting its direct selling business in a fair, transparent, and customer-friendly manner.

This Buy Back Policy has been established in accordance with applicable laws of India, including the Consumer Protection (Direct Selling) Rules, 2021, and shall govern the return and repurchase of eligible products purchased by Independent Business Owners ("IBOs"), distributors, and direct sellers.

1. Company Information

Company Name: GREYSTAR BIOTECH PRIVATE LIMITED

CIN: U47190BR2024PTC068150

Registered Office: DS1D, Ward No. 12, Village Post Begampur, Samastipur, Bihar – 848101, India

Email: support@greystarworld.in

2. Purpose of Buy Back Policy

The purpose of this Policy is to provide an opportunity for Independent Business Owners (IBOs) and distributors to return eligible unsold products purchased from the Company, subject to the terms and conditions specified herein.

3. Eligibility for Buy Back

An IBO or distributor may apply for buy back of eligible products if:

• The applicant voluntarily wishes to discontinue the business.
• The products were purchased directly from the Company or through authorized channels.
• The products remain unsold.
• The products are unused, unopened, and in resalable condition.
• The products are returned within thirty (30) days from the date of purchase unless otherwise permitted by the Company.
• The original invoice or proof of purchase is provided.

4. Conditions for Product Acceptance

Products returned under this Policy must:

• Be in original packaging.
• Contain original labels, seals, and tags.
• Be free from damage, tampering, or alteration.
• Not be expired or near expiry.
• Be capable of being resold by the Company.

The Company reserves the right to inspect returned products before approving any buy back request.

5. Non-Eligible Products

The following products shall generally not qualify for buy back:

• Opened or used products.
• Consumed products.
• Damaged products.
• Products with missing packaging.
• Expired products.
• Promotional or free products.
• Products specifically marked as non-returnable.
• Digital products, vouchers, subscriptions, or downloadable content.

6. Buy Back Value

Upon approval of a valid buy back request, the Company may repurchase eligible products at up to ninety percent (90%) of the original Net Purchase Value paid by the IBO, after deducting:

• Applicable GST and statutory taxes.
• Commissions already paid.
• Bonuses already distributed.
• Incentives and rewards earned.
• Shipping and handling charges.
• Administrative expenses.
• Any other lawful deductions.

The final repurchase amount shall be determined by the Company after verification of all applicable adjustments.

7. Recovery of Commissions and Bonuses

Where commissions, bonuses, rank rewards, incentives, binary income, level income, or other compensation have been paid on products that are subsequently returned under this Buy Back Policy, the Company reserves the right to:

• Reverse such commissions.
• Adjust future earnings.
• Recover previously paid bonuses.
• Modify qualification status.
• Adjust rank achievements.

8. Buy Back Request Procedure

To initiate a buy back request, the applicant must:

• Submit a written request to the Company.
• Provide User ID / IBO ID.
• Provide Invoice Number.
• Provide Product Details.
• Provide Reason for Return.
• Submit any additional information requested by the Company.

9. Verification and Approval

The Company reserves the right to verify:

• Product condition.
• Purchase records.
• Inventory records.
• Compensation history.
• Compliance status.
• Fraud risk indicators.

Approval or rejection of any buy back request shall be at the sole discretion of the Company, subject to applicable laws.

10. Refund Processing

Approved buy back settlements shall generally be processed within fifteen (15) working days after successful receipt and verification of returned products.

Refunds may be made through:

• Bank Transfer
• Original Payment Method
• Wallet Credit
• Any other method approved by the Company

11. Fraud Prevention

Any attempt to abuse, manipulate, or fraudulently exploit this Policy may result in:

• Account Suspension.
• Account Termination.
• Commission Reversal.
• Forfeiture of Benefits.
• Legal Proceedings.

12. Relationship with Other Policies

This Buy Back Policy shall be read together with:

• Terms & Conditions
• Refund Policy
• Return Policy
• IBO Agreement
• Code of Conduct Policy
• Compensation Plan Disclaimer
• KYC Policy
• AML Policy

13. Limitation of Liability

The Company's liability under this Policy shall be limited to the applicable repurchase amount determined in accordance with this Policy and applicable laws.

The Company shall not be liable for indirect, incidental, consequential, punitive, or special damages.

14. Amendments

GREYSTAR BIOTECH PRIVATE LIMITED reserves the right to amend, modify, replace, suspend, or withdraw this Buy Back Policy at any time without prior notice.

The latest version published on the Company's website shall prevail.

15. Governing Law and Jurisdiction

This Policy shall be governed by and construed in accordance with the laws of India.

All disputes arising from or relating to this Policy shall be subject to the exclusive jurisdiction of the competent courts located in Samastipur, Bihar.

16. Contact Information

GREYSTAR BIOTECH PRIVATE LIMITED
CIN: U47190BR2024PTC068150
DS1D, Ward No. 12, Village Post Begampur,
Samastipur, Bihar – 848101, India
Email: support@greystarworld.in