License Transfer Policy
Independent Distributor License Transfer Policy
"Death ends a life, not a relationship." – Mitch Albom. This is why people mourn the loss of loved ones for the rest of their lives. However, one undeniable truth is that death is unavoidable, and life is unpredictable. The harsh reality of death is its financial and emotional impact on the family left behind.
1. Policy Applicability
1.1 This Policy applies to all Independent Distributors of OLIFE GLOBAL FASHION (OPC) PRIVATE LIMITED, regardless of their level in the company. Subject to the provisions of this Policy, the benefits associated with the business license ("ID") may be transferred to the assigned nominee in case of the Independent Distributor’s unfortunate death.
1.2 The nominee’s entitlement to business incentives will be determined based on the deceased Independent Distributor’s level, as per the company’s Business Incentive Plan applicable at the time.
1.3 This is a goodwill gesture by the company to provide financial support to the nominee of a deceased Independent Distributor. This is not a legal right or entitlement that can be claimed by the Independent Distributor or their nominee/legal heirs.
1.4 The company’s decision regarding any claim under this Policy shall be final and binding.
2. Eligibility Criteria
2.1 The Independent Distributor must register nominee details at the time of sign-up.
2.2 Existing distributors must update their nominee details with the company.
2.3 Nominee details can be updated anytime by contacting customer care.
2.4 The Independent Distributor’s ID must be active at the time of death (i.e., the ID must have had a transaction within the last 12 months).
2.5 The nominee must be a blood relative or spouse of the Independent Distributor.
2.6 The nominee must be at least 18 years old.
2.7 The nominee must provide valid legal documents:
Aadhaar Card
PAN Card
Bank details with IFSC code
2.8 The ID must not be under any active investigation at the time of death.
2.9 If the Independent Distributor failed to register a nominee during their lifetime, the company cannot accept requests from legal heirs.
3. License Transfer Procedure
3.1 The nominee must inform the company about the death by:
Emailing customer care
Calling the helpline number provided at www.olifeglobalfashion.com
3.2 The deceased Independent Distributor’s ID will be blocked, and the company will request further documentation from the nominee.
3.3 Required Documents:
Death Certificate of the deceased Independent Distributor
Self-attested copy of the nominee’s Aadhaar Card
Self-attested copy of the nominee’s PAN Card
Self-attested copy of the nominee’s Bank Details (Cancelled cheque / Passbook / Bank Statement)
Photograph of the nominee
Any additional documents required by the company
3.4 After verification, the company will execute an agreement with the nominee before transferring the ID.
3.5 Once the agreement is signed:
The deceased Independent Distributor’s ID will be mapped to the nominee.
All accrued benefits and future incentives will be paid to the nominee’s bank account, subject to this Policy.
3.6 Payment of Business Incentives depends on:
The Independent Distributor’s level at the time of death.
Incentives are based only on product sales—the company does not guarantee any fixed income.
4. Important Notes
This Policy is subject to change at the company’s discretion.a
The company reserves the right to modify, suspend, or terminate this Policy without prior notice.
Any disputes will be subject to the jurisdiction of D.No.64, (First Floor) 3rd cross, 2nd main road, Spoorthinagar, Arehalli, Uttarahalli, Bangalore, Karnataka - 560061.
For any queries, contact:
Customer Care | OLIFE GLOBAL FASHION (OPC) PRIVATE LIMITED
📧
[email protected]
🌐 www.olifeglobalfashion.com
