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Income Sharing Agreement

Income Sharing Agreement

This is not a loan Agreement or an Employment Bond, this agreement is intended only to serve as an alternative Fees structure. The agreement is valid only for 6 year from the date of acceptance by the student thereafter the student is not laible to pay fees even if the fees is not paid in full. This Agreement is entered into between ____________________________________________ hereafter referred to as student and Avodha Edutech Private Limited hereafter referred to as Company on ____________________. 

The Income Sharing Agreement is a financial instrument used to ensure that the student only pays the fees if he/she lands a job related to the Industry the student is being trained in at Avodha.com. 

Payment Terms

  1. The Student must pay the remainder of the fees i.e Rs 10,000 in two equal monthly installments, Rs 5000 payable on the first day of his/her employment in a job wherein they are placed through Avodha. 
  2. The second payment of Rs 5000 needs to be done once the student completes 30 days of employment in the job they have been placed at via Avodha.
  3. If the student does not join a job related to the course he/she studied in Avodha then he/she is not bound to make the remainder of the payment. 
  4. In the event, the Student lands a job independently of Avodha placement services then also the student is not bound to make the payment. 

Scenarios where Payment Need Not be Made

  1. If the student lands a job apart from Avodha placement services then he/she need not make the payment. 
  2. If the student chooses to not make use of Avodha placement services then he/she is not bound to make any further payments.
  3. If the student is placed in a job using Avodha placement services and he/she chooses to not avail of the placement service i.e he/she chooses not to join the job then the student is not bound to make the payments.

Scenarios where payment needs to be made

  1. If the student is placed in a job using Avodha placement services and he/she chooses to continue in the job, then the student needs to pay Rs 5000 on the first date of joining the job. 
  2. If the student chooses to remain in the job for the next 30 days, then he/she needs to pay the remaining amount of Rs 5000 after completion of the 30 days.

By accepting this Agreement either via e-mail or any other form of electronic communication and/or by signing this contract in person, the student and company enter into this agreement and are bound by its clauses and conditions.

  1. Avodha Edutech Private Limited products and programs are intended for individual use only. Broadcasting the programs through any means, including but not limited to through the internet, television, handheld devices, and other devices, is not permitted, and is a breach of the intellectual property rights of Avodha Edutech Private Limited (the “Company”). The Company reserves the right to initiate legal proceedings in the case of such a breach.
  2. It is expressly clarified that all intellectual property rights including but not limited to the copyright, patent, trademarks, trade secrets in the products, modules, contents, and programs shall continue to vest with the Company at all times. The student/ parent shall not have the right to claim any rights over the intellectual property in the product by them purchasing the product. Further, in no event shall the student/parent have the right to make copies of the products once the sale is made. The student/parent acknowledges that a breach of this clause could cause irreparable harm to the Company as to which monetary damages may be difficult to ascertain or an inadequate remedy. The student/parent acknowledges that the Company will have the right, in addition to its other rights and remedies, to seek injunctive relief for any violation of the clause.
  3. Avodha Edutech Private Limited (Company) reserves the right to make any change in Avodha’s products and programs without prior notice.
  4. Customers are entitled to make payment for Avodha Edutech Private Limited products and programs through online payment, cash, card, or cheque.
  5. In the case of payment by cheque, the requested product/program will be dispatched by the Company only on realization of the cheque.
  6. Should the cheque bounce, fail to be realized or if the Company is required to present an alternate cheque for any reason, any banking charges incurred by the Company in this regard are recoverable by the Company from the issuer of such a cheque.
  7. The Company is entitled to revise the price of its products and programs, at any time, at its sole discretion without prior notice
  8. The parent/student will have access to the product and content until the month & year of validity specified in this form and certain courses/ programs by the company may have a view count restriction. The parent/student is bound by the same.
  9. The Student may also request a free extension of the course period as and when needed if the course validity expires before the student can complete the course.
  10. Any change of address or phone numbers should be notified to the Company without any delay through a written application or by reaching out to us on our customer care number +91 9288009469
  11. For quick escalation and dispute resolution send an email to [email protected].
  12. In case of any dispute or difference between the user and the Company, regarding the interpretation of these terms and conditions, non – payment of any claim or any dispute arising out of or in according to these terms and conditions, the same shall be referred to the sole arbitrator who shall be appointed by the directors of the Company. The proceedings shall be conducted at Bangalore under provisions of the Arbitration & Conciliation Act and the courts at Bangalore only shall have the jurisdiction over the matter and/or for enforcement as the case may be. Such person shall be entitled to proceed with the reference from the stage at which it was left by his predecessor, if both the parties consent to this effect, failing which the arbitrator will be entitled to proceed de novo.
  13. In the event that the minor is the beneficiary/user of our product/App, however as per the Indian Contract Act,1872 it is only the parent/guardian who can enter into a valid/legal contract and for all practical purposes, it is deemed that the parent/guardian is the end-user of the same and will have rights and liabilities as contemplated herein and under relevant acts and statutes for the time being in force.
  14. The payable fees are non-refundable.
  15. Avodha.com does not provide a job guarantee of any kind however, we provide active placement assistance.
  16. Students can avail of the placement assistance service at Avodha only after completing the course.
  17. Course completion at Avodha is defined as completing the online element of the course which includes but is not limited to 24*7 available lectures, quizzes, assignments, special post-course Live Training Sessions, Interview Training Series, and Mock Interview rounds.
  18. However, Avodha reserves the right to offer placement assistance before course completion if and when necessary.
  19. The student has the right to accept or deny this placement assistance service at the student’s discretion.
  20. The certifications offered by Avodha with the exception of the Avodha Course Completion Certificate are provided by 3rd Party Certification Providers, the cost for these certifications must be borne separately by the student if he/she chooses to opt for the same. The prices offered by these providers are under the control of these providers and could be subject to change at the discretion of the 3rd Party providers.\