Effective Date: [Insert Effective Date]
This Compensation Plan Disclaimer ("Disclaimer") governs the interpretation, application, and administration of the compensation plan offered by GREYSTAR BIOTECH PRIVATE LIMITED ("Company", "Greystar Biotech", "we", "our", or "us").
All Independent Business Owners ("IBOs"), distributors, customers, affiliates, participants, and users are advised to carefully read and understand this Disclaimer before participating in any business opportunity, compensation plan, incentive program, bonus structure, reward scheme, or promotional activity offered by the Company.
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
GREYSTAR BIOTECH PRIVATE LIMITED operates a product-based direct selling business.
The compensation plan is designed to reward lawful product sales, customer acquisition, business development activities, team performance, leadership development, and compliance with Company policies.
The Company does not operate any money circulation scheme, pyramid scheme, chain money scheme, investment scheme, deposit scheme, or get-rich-quick program.
The Company does not guarantee any specific income, commission, bonus, incentive, reward, profit, financial success, or earning opportunity.
Participation in the compensation plan does not guarantee that any participant will earn income or recover expenses incurred in connection with the business.
Actual earnings depend on several factors including:
Results achieved by one participant do not guarantee similar results for others.
The Company may offer one or more compensation components, including but not limited to:
Eligibility for any compensation component shall be subject to qualification criteria determined by the Company.
The Company reserves the absolute right to modify, amend, replace, suspend, discontinue, or restructure any portion of the compensation plan at any time without prior notice.
Such modifications may include changes to:
Eligibility for commissions, bonuses, rewards, incentives, ranks, and other compensation benefits may require:
All commissions and bonuses are subject to verification, compliance review, fraud prevention procedures, and Company approval.
The Company reserves the right to delay, adjust, withhold, reverse, or cancel commissions where:
If products are returned, refunded, repurchased, bought back, cancelled, or disputed, the Company reserves the right to:
All commissions, bonuses, incentives, rewards, and payouts are subject to applicable taxes and statutory deductions.
The Company may deduct:
Participants are solely responsible for their own tax filings and statutory obligations.
Payouts shall be processed in accordance with the Company's Withdrawal Policy.
Minimum withdrawal amount may be prescribed by the Company and may be modified from time to time.
Approved withdrawals are generally processed within seven (7) working days subject to verification and operational requirements.
Participation in the compensation plan does not create any employment relationship between the participant and the Company.
IBOs are independent contractors operating their own independent business activities.
IBOs and distributors shall not:
Violation may result in disciplinary action, suspension, termination, withholding of commissions, or legal proceedings.
GREYSTAR BIOTECH PRIVATE LIMITED shall not be liable for:
The Company's maximum liability shall not exceed the amount actually paid to the participant under the compensation plan during the preceding twelve (12) months.
The Company reserves the right to modify, amend, update, replace, suspend, or discontinue this Disclaimer at any time without prior notice.
The latest version published on the website shall prevail.
This Disclaimer shall be governed by and interpreted in accordance with the laws of India.
Any dispute arising out of or relating to this Disclaimer shall be subject to the exclusive jurisdiction of the competent courts located in Samastipur, Bihar.
By participating in the Company's business opportunity, compensation plan, reward programs, incentive schemes, or commission structure, you acknowledge that you have read, understood, and agreed to this Compensation Plan Disclaimer.
