Independent Business Owner Agreement
NOTE: The terms Independent Representative and Independent Business Owner when used by Wealthlooks shall have the same meaning.
This Independent Representative Agreement (Agreement) applies solely to Independent Representatives (Representative/s) who wish to promote Wealthlooks products and services and benefit from the income opportunity offered by the Wealthlooks model. This Agreement should always be read together with the various legal terms and conditions available in our website (to the extent applicable), including the General Terms and Conditions, Instructor Agreement, Policies and Procedures, Cookies Policy, Privacy Policy, Restricted Topics Police and Copyright Notice which, where applicable, form an indivisible and inherent part of this Agreement.
By entering into this Agreement with Wealthlooks, you (the Representative) irrevocably agree to adhere and be legally bound by the following terms and conditions as well as to comply with and abide by the rules and procedures of the documents listed in the above paragraph.
You understand that, as Wealthlooks Representative, you:
· have the non-exclusive right to offer for sale Wealthlooks products and services in accordance with this Agreement;
· have the non-exclusive right to enroll persons in Wealthlooks and to promote the Wealthlooks income opportunity in Cyprus and other countries in which Wealthlooks indicates they are in business as described in official company literature, both online and offline; and will train and motivate the Representatives in your downline marketing organization. The only purchase necessary to become a Representative is to create an account and pay the corresponding enrolment fees. With the exception of the enrolment fees, you hereby acknowledge that the purchase of any products, services, promotional or sales aid literature or attendance at any Wealthlooks-sponsored income opportunity training is entirely optional. You further understand that Wealthlooks Representatives are not guaranteed any specific amount of earnings and that any earnings and success will depend upon the sale of Wealthlooks products, the acquisition of customers for Wealthlooks services and the acquisition of customers by other Wealthlooks Representatives in your sales organization.
You agree to present the Wealthlooks Bonus Affiliates commissions as well as products and services only as set forth in official Wealthlooks literature.
You shall not use Wealthlooks, or Wealthlooks’ trademarks, trade name, slogans, symbols and colour scheme without Wealthlooks’ prior written permission except in the marketing materials and promotional materials provided or sold to you by Wealthlooks.
In the event that you sponsor other Representatives, you understand and agree that you must use your best efforts to provide, on an on-going basis, bona fide support and training of sponsored Representatives and their team, which shall mean such activities as ongoing contact, communication, encouragement and support of their organization including, but not limited to, providing information and training to sponsored Representatives in connection with the legislative and regulatory requirements to be complied with in Cyprus.
You agree that as a Wealthlooks Representative you are an independent contractor and not an employee, partner, legal representative or franchisee of Wealthlooks. You are not authorized to and shall not incur any debt, expense, obligation or open any bank account on behalf of, for or in the name of Wealthlooks. You agree that you will be solely responsible for paying all expenses incurred by yourself including, but not limited to, travel, food, lodging, secretarial, office, telephone and other expenses. Wealthlooks is not responsible for withholding and shall not withhold or deduct from your bonuses and commissions (if any), social security or taxes of any kind. You understand that you are responsible for the filing of all necessary tax returns and paying all applicable taxes due in relation to your Wealthlooks business. Further, as an independent contractor you agree to: (a) abide by any and all laws, rules and regulations pertaining to the Agreement (and in particular the Law for the Protection of Consumers of 2021, L.112(I)/2021) as this may be amended from time to time and/or pertaining to the promotion of Wealthlooks products and/or services; and (b) at your expense, make, execute or file all reports and obtain all licenses (including, if applicable, V.A.T. registration) as are required by law or public authority with respect to the Agreement, the sale of Wealthlooks products and/or services and/or the promotion of the Wealthlooks business opportunity.
You have carefully read and agree to comply with these Terms and Conditions, the Wealthlooks Policies and Procedures, the Wealthlooks Bonus Affiliates commissions and the Wealthlooks Business Entity Registration Form (if applicable), each of which are provided by Wealthlooks on its website and are incorporated into and made a part of the Representative Agreement (these three documents along with the on-line application form shall be collectively referred to as the “Representative Agreement”). You understand that you must be in good standing and not in violation of this Agreement in order to be eligible for bonuses and/or commissions from Wealthlooks. You understand that this Agreement may be amended at the reasonable discretion of Wealthlooks and agree that any such amendment shall apply to you. Notification of amendments shall be published in official Wealthlooks materials. Amendments shall become effective upon notice to all Representatives when published on the Wealthlooks website. The continuation of your Wealthlooks business or your acceptance of bonuses and/or commissions shall be deemed and constitute your acceptance of any and all amendments. You acknowledge that all post-sale customer service support may be rendered in English by Wealthlooks or its affiliates.
The term of this Agreement is one (1) year from the date of its acceptance by Wealthlooks. The Agreement shall thereafter automatically renew for successive one (1) year terms provided always that the attributable renewal/enrollment fee has been settled, regardless of whether Wealthlooks may allow for limited grace periods, without limiting your choice to provide Wealthlooks with at least thirty (30) days’ written notice of non-renewal. If either you or Wealthlooks elects not to renew the Agreement or if it is terminated for any reason, you understand that you will permanently lose all rights as a Representative. Post termination you shall not be eligible to sell Wealthlooks products and services, nor shall you be eligible to receive commissions, bonuses or other income resulting from the activities of your former downline sales organization. In the event of termination or non-renewal, you waive all rights you have including, but not limited to, property rights, former downline organization and any bonuses, commissions or other remuneration derived through the sales and other activities of your former downline organization. Wealthlooks reserves the right to terminate all Representative Agreements upon thirty (30) days notice if the Company elects to: (a) cease business operations; (b) dissolve as a business entity; or (c) terminate distribution of its products and/or services via direct selling channels
The Agreement may be terminated by us or by you as further specified in the Policies and Procedures.
Except where the obligation on you as a Representative is specified to apply after termination of the Agreement in respect of non-competition, non-solicitation and confidentiality in accordance with the Agreement, you understand that you shall be released from all future contractual liabilities towards Wealthlooks on termination of the Agreement at any time.
You understand and agree that bonuses and/or commissions paid to you on goods returned by, or services refunded to Representatives in your sales organization, shall be repayable by you and may be deducted from your account with Wealthlooks at any time where a Representative in your sales organization terminates their Representative Agreement, or it is terminated by Wealthlooks.
You agree that payments of refunds shall be made in the same form as the original payment and in accordance with Wealthlooks’ termination procedure in force from time to time.
You can change placement (left or right of binary) with a request within 24 hours from your sign up , except when the weekly period has already changed. You cannot change placement if another IBO has signed up below.
You may not assign or otherwise transfer any rights or delegate my duties under this Agreement without the prior written consent of Wealthlooks. Any attempt to transfer or assign this Agreement without the express written consent of Wealthlooks renders this Agreement voidable at the option of Wealthlooks and may result in termination thereof. Wealthlooks may transfer, assign, charge, novate, sub-contract or otherwise dispose of any of its rights or obligations arising under these Terms and Conditions with prior written notice.
You understand that if you fail to comply with the terms of the Agreement, Wealthlooks may, at its discretion, impose upon you enforcement actions in accordance with the Policies and Procedures. If you are in breach, default or violation of this Agreement at termination, you shall not be entitled to receive any further bonuses and/or commissions, whether or not the sales for such bonuses and/or commissions have been completed.
Wealthlooks, its parent or associated companies, directors, officers, shareholders, employees, assignees and/or agents (collectively referred to as “Affiliates”) shall not be liable for, and you release Wealthlooks and its Affiliates from, all claims for loss of actual or anticipated profits, interest, revenue, anticipated savings or business goodwill, incidental, direct, special or consequential or exemplary loss or damages or any other loss incurred. You further agree to release Wealthlooks and its Affiliates from all liability arising from or relating to the promotion or operation of your Wealthlooks business and any activities related thereto (e.g. the presentation of Wealthlooks products or Bonus Affiliates commissions, the operation of a motor vehicle, the lease of meeting or training facilities, etc.), and agree to indemnify Wealthlooks for any liability, damages, fines, penalties or other awards including legal fees or court costs arising from any unauthorized conduct that you undertake in operating your Wealthlooks business.
Any promises, representations, offers and other communications not expressly set forth in this Agreement shall have no force or effect.
Any waiver by Wealthlooks of any breach of hereof must be in writing and signed by an authorized officer of Wealthlooks. Waiver by Wealthlooks of any breach of this Agreement by you shall not operate or be construed as a waiver of any subsequent breach. No failure to exercise and no delay in exercising any right under this Agreement on the part of Wealthlooks, shall operate as a waiver thereof and/or be deemed in any manner whatsoever as such.
If any term or provision of this Agreement is at any time held to be illegal, invalid or unenforceable in whole or in part, such provision shall, to that extent, be deemed not to form part of the Agreement but the enforceability of the remainder of the Agreement shall not be affected.
You authorize Wealthlooks to use your name, photograph, personal story and/or likeness in advertizing/promotional materials and waive all claims for remuneration for such use. In order to be informed about your personal data and how we process them please see our Privacy Notice for IBOs.
You understand that participation in Wealthlooks does NOT guarantee or assure any profits or success. You certify that no such representations of income or success have been made to you by Wealthlooks or any Independent Representative.
Any notice or other written communication given under or in connection with the Agreement may be delivered personally or sent by first class post or other form of recorded delivery to Wealthlooks at the address shown on the Representative Application and Agreement Form, or such other address notified from time to time by such party to the other. Alternatively, communication can be made via specified email addresses but this shall not apply in case of servicing of document in relation to any court proceedings.
You acknowledge and confirm that (a) you have read and understood the content of the present Agreement, (b) you have had the opportunity to obtain independent and impartial legal advice hereto, (c) all the terms and conditions hereof are material, have been the subject of negotiation and that they have been taken into account by you for the determination of the consideration and/or the price and/or fees and/or compensation and/or commission and of their decision to enter into the present; and (d) have placed your signature hereunder exercising your free will and without influence, oppression and/or coercion of any kind.