Last updated on Feb 21, 2024
By participating in the Strata Prop Referral Program (“Program”) by Strata Property Management Private Limited (“Strata”), either as a Referrer (defined below) or as an Referee (defined below), you are accepting these terms and conditions (“Terms”).
The Terms govern the Program for existing or prospective users (“User”) who have signed up or shall sign up, as the case may be, on the website strataprop.com or Strata’s mobile application (“Strata Platform”). These Terms shall be effective from 30th November, 2023.
These Terms shall be read with the website Terms and Conditions and the Privacy Policy.
GENERAL:
1. Referrer and Referee/Invitee Eligibility:
1.1. Referrer. Any User who (i) has registered themselves and completed the KYC verification process on the Strata Platform for either main or both main and linked accounts, or (ii) has made an investment through main or linked account; and (iii) has provided a unique code or link assigned to them by Strata (“Referral Link”) to any newUser. It is expressly clarified that the Referral Link shall be provided for the main account of the Referrer only, and this single Referral Link will be available to the main account holder and their linked accounts. Any Referral Reward (defined below) shall be given to the Main Account holder only. Any person that directly or indirectly derives monetary benefit from Strata otherwise than this Referral Reward due to the new User making aQualified Investment shall not be considered as a ‘Referrer’ under this Program
1.2. Referee. Any User who (i) has not previously registered themselves on the Strata Platform; (ii) uses the Referral Link to sign up on the Strata Platform and if required mentions and applies the Referral Link in the designated place on the Strata Platform at the time of signing up, and (iii) is not linked to any account of any Referrer.
2. The Program:
2.1. If an investment is made in the properties listed on the Strata Platform (“Qualified Investment”) within one (1) year of signing up using the Referral Link, the Referrer will receive the Referral Reward (defined below); for the first such Qualified Investment made by the Referee. Qualified Investment does not include re-sale or secondary sale investments but shall be limited to a direct investment through the Strata Platform only;
2.2. Strata may, in its sole and absolute discretion, accept or reject any Referee from signing up on the Strata Platform and the decision of Strata in this regard shall be final and binding;
2.3.For the first Qualified Investment made by the Referee, the Referrer whose Referral Link is used for such Qualified Investment shall receive a ‘cashback’ equivalent to 0.5% of the Qualified Investment ("Referral Reward”). Cashback shall be remitted to the Referrer in terms hereof, against invoices to be duly furnished in the form and manner approved by Strata.
3. Referral Reward Payment Terms:
3.1. The Referral Reward will accrue to the Referrer immediately after the Referee completes the Qualified Investment. In case of a Referrer who has not completed a single Qualified Investment from their account as on the date of Referral Reward accruing, the Referral Reward will become payable to the Referrer upon (i) the Referrer completing their first QualifiedInvestment; and (ii) the Referrer completing the KYC process for the Main Account. A Referral Reward can stay accrued to the Referrer until a maximum period of 2 (two) years from the date it accrues, within which time the Referrer is required to complete a Qualified Investment to be eligible for the payout of Referral Reward.
3.2. A Referrer will be eligible to earn Referral Rewards upto an aggregate maximum threshold of Rs. 1,00,00,000 (Rupees One Crore only).
3.3. The Referral Reward shall be sent to the Referrer within 30 (thirty) days from (i) the date of acquisition of the asset into which the Qualified Investment is being made, if the Referrer has already made a Qualified Investment; (ii) the date the Referrer completes their first Qualified Investment within a period of 2 (two) years from the Referral Reward accruing to them.
3.4. Notwithstanding anything to the contrary, the decision of Strata shall be final and binding on you in case of any dispute(s) or discrepancy regarding entitlement or computation of the Referral Reward payable;
3.5. Payment of Referral Reward by Strata shall be subject to deduction of applicable taxes. The Referrer agrees to provide signed declarations as required by Strata should they be exempt from applicable taxes.
4. OBLIGATIONS:
4.1. The User shall not:
4.1.1. make any representations and warranties attributable to Strata or with respect to the investment opportunities or services offered by Strata on the Strata Platform (“Services”),
4.1.2. make any false or misleading representations about the ownership, specifications, features or capabilities of the Services that are inconsistent with those communicated by Strata, which is in written form.
4.2. Further, the User agrees and acknowledges that the Services shall always be referred as the services of Strata and they shall not, in any manner represent to any person, promote, refer or market the Products as their own;
4.3. The User shall not incur any liability on behalf of Strata or give any credit or discount on behalf of Strata, unless authorised by Strata in writing;
4.4. The User shall:
(i) at all times comply with the applicable laws;
(ii) Not engage in any activity that may be considered fraudulent, invasive, or spamming.
(iii)Ensure the accuracy and completeness of all information submitted on the Strata Platform pursuant to these Terms.
4.5. The User represents and warrants that pursuant to these Terms, they have not carried out any other activities, such as any financial advisory, inducing persons to use or trade/transact with Strata, providing stock tips, managing portfolios etc.
4.6 The User shall not, since being eligible to receive Referral Reward from Strata, enter into any contracts or publish any marketing material/advertisement acting as Strata or act as an agent of Strata without the explicit written permission of Strata.
4.7. The User shall not post, publish, or share the Referral Link/code on public forums without any context. If the Referree’s source is found to be a public forum, the Referral Link will be deactivated and such an investment will not counted as a referral for the purposes of this Program.
5. Amendments:
5.1. Strata reserves the right, at its sole discretion, to change, modify, add or remove portions of these Terms, at any time without any prior written notice to you. It is your responsibility to review the Terms periodically for updates /changes. Strataprop.com Privacy Policy - https://strataprop.com/legal/Privacy
