Annexure-1 Empanelment of retired staff of our Bank as Marketing Consultants - · PDF file · 2015-08-19Empanelment of retired staff of our Bank as Marketing Consultants - Detailed

Annexure-1

Empanelment of retired staff of our Bank as Marketing Consultants - Detailed

Guidelines.

1. Eligibility Criteria:

Retired officers may be engaged for the purpose, without prejudice to their

pension. The officers who left Bank's service under VRS may also be

considered. Retired employees of the clerical cadre may also be engaged on a

selective basis. The officers /employees who were dismissed / removed from

the Bank's service as a disciplinary measure shall not be eligible.

The engagement shall be up to the maximum age of 70 years, subject to other

conditions regarding renewal of contract.

His commitment, diligence and integrity should have been excellent during his

service in the Bank.

No punishment / penalty should have been inflicted on the officer /employee

during five years of his service in the Bank preceding his retirement.

Cases of CBI or other law enforcement agencies should not be pending

against him.

The retired staff should be preferably a local resident of the area where the

Branch / Retail Loan Factory to which he will report, is located.

2.

Empanelment of Marketing Consultants (MCs) :

The eligible retired staff may apply in the specified application form for

empanelment in the Bank as Marketing Consultants.

3. Terms of Contract :

The retired staff would be working from their respective homes (which will be

their office) or office set up by them.

MC would be under the administrative control of the Deputy Regional

Manager who will be responsible for their deployment. The Deputy Regional

Manager will allocate specific areas of operation to each MC, where he/she

should preferably concentrate for generation of leads and identify select Retail

Loan Factory/branches where the Home Loan Proposals sourced by the MCs will

be placed for further processing.

The MCs may be permitted to submit the applications to any RLF/ identified

Branch as convenient to the borrower, through respective RLF/identified branch

where he is attached.

MCs may also be attached to the approved Builders to source Home Loan proposals.

However, no remuneration will be paid to MCs for Home Loan proposals

directly submitted by the Builders/ their Executives where the Bank is required

to pay payout/service charges to the Builders/their Executives.

MC would be engaged on a contract basis for a period of 6 months. (format of

contract is given in Annexure -8 )

On completion of 6 months, if their performance is satisfactory and depending

on their suitability and requirement of the Bank, the contract of service may be

renewed for further period of 6 months each at a time. The contract can be

terminated from either side with a notice period of one month.

The Regional Authority will review the performance of MCs on every half

year ending June and December, for continuation of contract of MCs.

4. Fee payment:

MC would be paid fee at the following rates:

(A) For sourcing of Home Loan applications:

i) 0.25% of the loan amount for limits below Rs. 50 lacs.

ii) 0.30% of the loan amount for limits of Rs. 50 lacs and above.

iii) For takeover of loan below Rs. 50 lacs : 0.30% of the loan amount.

iv) For takeover of loan Rs. 50 lacs and above: 0.35% of the loan amount.

In all the above cases, the maximum fee should not be exceed Rs.50,000/- per

proposal.

(B) MCs sourcing loan proposals aggregating Rs.5 crores or more per month:

0.35% of total home loans sourced during the month subject to maximum of

Rs. 50,000/- per proposal.

(C) For sourcing of project approval proposal alongwith necessary papers:

Rs.200/- per flat/unit in the project, subject to a maximum Rs.10000/- per

project. The official approving the project will be authorized to sanction

such expenses.

* The fee is inclusive of Service tax and any other tax, if

applicable/payable/deductible.

* Tax as applicable would be deducted at source.

* The fee will be paid after conversion of the leads into business. i.e, on first disbursal of the loan.

* Fee will be paid on monthly basis on first week of following month.

* No other payment will be made to MC in the form of salary/ allowance/

out-of-pocket expenses etc.

With the introduction of Baroda Home Loan Suraksha Personal Loan Scheme for

funding the premium amount under Group Credit Life Insurance, it may be clarified

th a t:

i) The fee payable to MCs may include the Baroda Home Loan Suraksha

Personal Loan limit. The aggregate fee calculated at the rate mentioned above

of both Home Loan and Suraksha Personal Loan Limit is subject to maximum

amount mentioned above.

ii) The aggregate fee thus calculated may be shown separately so as to highlight

that the MCs are getting fee for Baroda Home Loan Suraksha Personal Loan

account also.

iii) No fee is payable on Baroda Home Loan Suraksha Personal Loan account

sanctioned subsequent to sanction and disbursement of Home Loan.

5. Targets for Marketing Consultants.

MC would also be given minimum monthly target of minimum 10 Loans in 2

months, preferably 5 loans in every month.

If they fail to reach the minimum target in a particular month, the numbers

booked in the month will be rolled over to the next month and added to next

month's performance.

If they fail to meet the target of 10 loans in two months, their contract may not

be further renewed, at the discretion of the Regional Manager. Although the

contract is for 6 months, there will be review at the end of every two months and

if the targets are not achieved, the contract may be terminated with one month

notice.

6. Identity cards and Unique Identification Code:

The concerned Regional Office shall issue identity cards to the Marketing

Consultants, clearly stating therein the validity period. However, the Marketing

Consultant shall not be permitted to use the Bank's name or logo on their

signboards, name-plates, visiting cards, stationery, etc.

All MCs will be allotted a Unique Identification Code (MCID). The first two

character will be 'MC' suffixed by Pension/PF No. of the retired

official/employee. Same will be noted in the LAPS and Finacle.

7. Job Profile of Marketing Consultants (MC)

Obtain leads on Home Loan requirements of individuals from various sources,

viz. builders, municipal approvals, etc.

Meet intending Home Loan borrowers at a place and time convenient to them

and explain Home Loan product details. MC will submit completed and signed

Home Loan application along with all the requisite documents, to the identified

Retail Loan Factory/Branch and receive the tracking No.

Follow up the application till sanction.

The role of MCs is limited to the sourcing of proposal only.

KYC verification, Pre-sanction inspection, appraisal, documentation,

disbursement and Post-sanction inspection etc in respect of Home Loans are

to be done by the RLF/Branch.

The MCs may be provided with the checklist of documents to be submitted

along with application form by the RLF/Identified Branch.

Marketing Consultants (MC) shall not be entrusted with any financial/

passing/administrative powers. They shall not be given access to Bank's

computers, Core Banking platform, ascrom data etc.

In case of any dispute, respective Regional Manager's decision will be final.

8. Training:

Candidates empanelled as Marketing Consultants will be trained on product

details and marketing at Regional Office/Retail Loan Factory for a period of 2

days with the support of Regional Office/Training Center officials.

9. Application for empanelment:

The Retd staff has to submit their application (format as per annexure-4) to

respective Regional Office.

10. Identified centres for deployment of Marketing Consultants:

All Retail Loan Factories or Branches identified by the Regional Authority for areas

wherever there is no RLF.

Annexure-2

Empanelment of Home Loan Counselors (HLCs) - Detailed Guidelines.

Eligibility:

Should be an approved agent for selling NSCs/Life Insurance Policies/ Mutual

Funds/ Govt. approved valuers/ Chartered Accountants/Tax Consultants

Real Estate Brokers may also be considered depending upon the local

standing and reputation.

Also, any individual (including a builder's representative) who has prior

experience of selling Home Loans, mortgage backed products, auto loans,

credit/ debit cards, demat accounts and any other similar financial products may

also be empanelled as HLC.

Our Business Correspondents (BCs) can also be considered for empanelment

as HLCs.

* Age of applicant should be minimum 21 years and maximum age should be

55 years.

* Should be local resident, at least matriculate and able to communicate

effectively in local language and English.

* Should be having mobile phone facility.

* Should operate from his place. Bank will not provide any office.

Job profile:

Obtain leads on Home Loan requirements of individuals from various sources,

viz. builders, municipal approvals, BOB branches etc.

Meet intending Home Loan borrowers at a place and time convenient to them

and explain Home Loan product details.

Fill in Home Loan applications and obtain all the requisite documents and

deliver these to the RLF/Branch for further processing.

Follow up the application till sanction.

The role of HLCs is limited to the sourcing of proposal only.

KYC verification, Pre-sanction inspection, appraisal, documentation,

disbursement and Post-sanction inspection etc in respect of Home Loans are

to be done by the RLF/Branch.

Business target

While no minimum target is stipulated, the HLC should be told to bring in:

(a) For HLCs empanelled at Branches linked to Retail Loan Factories : About 5

proposals worth Rs.1 Crore a month.

(b) For HLCs empanelled at Branches not linked to RLFs : About 5 proposals

worth Rs.50 lacs a month.

If the HLC fails to bring in a minimum business as under in every 6 months period, his

services will stand automatically terminated.

(a) For HLCs empanelled at Branches linked to RLFs : Rs. 2 crore

(b) For HLCs empanelled at Branches not linked to RLFs: Rs. 1 crore

However, he/she will be paid fee for the proposals already mobilized.

Fee for sourcing Home Loan proposal:

Fees payable to HLCs on first disbursal of the Home Loan, are as under:






In all the above cases, the maximum fee should not be exceed Rs.50,000/-

per proposal.

(B) HLCs sourcing loan proposals aggregating Rs.5 Crores or more per

month: 0.35% of total home loans sourced during the month subject to

maximum of Rs. 50,000/- per proposal.

(C) For sourcing of project approval proposal alongwith necessary papers:

Rs.200/- per flat/unit in the project, subject to a maximum Rs.10,000/- per

project. The official approving the project will be authorized to sanction such

expenses.

* Fee is inclusive of Service tax and any other tax, if



* The fee will be paid after conversion of the leads into business. i.e, on first disbursal of the loan.

* Fee will be paid on monthly basis on first week of following month.

* No other payment will be made to HLC in the form of salary/ allowance/ out-of-pocket expenses etc.

With the introduction of Baroda Home Loan Suraksha Personal Loan Scheme for

funding the premium amount under Group Credit Life Insurance, it may be clarified

th a t:

i) The fee payable to HLCs may include the Baroda Home Loan Suraksha

Personal Loan limit. The aggregate fee calculated at the rate mentioned above

of both Home Loan and Suraksha Personal Loan Limit is subject to maximum

amount mentioned above.

ii) The aggregate fee thus calculated may be shown separately so as to highlight

that the HLCs are getting fee for Baroda Home Loan Suraksha Personal Loan

account also.

iii) No fee is payable on Baroda Home Loan Suraksha Personal Loan account


Terms of empanelment:

Purely temporary.

The candidate has to submit their bio-data along with copies of photo identity proof, residential and permanent address proof, details of previous experience

with experience certificate/proof if any

(format is given as annexure- 4 (A)

Reference of two reputed persons in the area where he resides to be obtained

from the HLCs along with Bio-data.

Empanelment of HLCs will be done through entering into an Agreement cum

Indemnity instead of exchange of a letter. The Agreement cum Indemnity

should be stamped in accordance with the Stamp Act in force in the State.

(Format to is given as annexure -9 )

A photo ID card with validity date mentioned on it, will be issued by the

Regional Office to HLC. HLC will be required to display ID card prominently

while dealing with a potential customer on behalf of the Bank.

However, the HLCs shall not be permitted to use the Bank's name or logo on

their signboards, name-plates, visiting cards, stationery, etc.

Training:

All newly recruited HLCs will undergo 'One Day Training Programmes' at

Regional Office/ RLF to educate them about our Products, Processes and the

basics of Marketing. The salient features of Margin, LTV, income criteria,

calculation of Loan Eligibility, Group Life Insurance coverage, etc should be

clearly explained to them.

All newly recruited HLCs will be attached to an RLF for one month for

handholding purpose.

Information regarding any changes in the Home Loan products are to be

properly intimated to HLCs by the RLF /Identified Branch through personal

communication/brochures.

Identity cards and Unique Identification Code:

The concerned Regional Office shall issue identity cards to the HLCs, clearly

stating therein the validity period. However, the HLC shall not be permitted to

use the Bank's name or logo on their signboards, name-plates, visiting cards,

stationery, etc.

HLCs shall not be given access to Bank's computers, Core Banking platform,

ascrom data etc.

All HLCs will be allotted a Unique Identification Code (HLCID) of 12

characters. The first three character will be 'HLC' suffixed by Region

identification code and Serial No. Same will be noted in the LAPS and Finacle. Performance review of HLCs

Regional Manager/ Deputy Regional Manager will hold quarterly Performance

Reviews of all HLCs.

The Deputy Regional Manager will review the performance of HLCs at Half

Yearly intervals. The HLCs failing to achieve the minimum business

performance will be depaneled by Regional Manager, if deemed necessary.

Interaction with RLF/Branch Heads

All RLF (Branch Head where RLF is not attached) will allot a predefined time

slot (say from 4 pm to 5 pm) every day for interaction with HLCs.

Participation in Home Loan Expos/ Melas and other promotional events:

A few top performing HLCs should be involved in Home Loan Expos/Melas

and other promotional events organized.

:

Annexure-3

BOB Marketing Consultants (MCs) & BOB Home Loan Counselors (MC/HLCs) - Code

of Conduct and Responsibilities

i.

ii.

iii.

iv.

DOs

MC/HLC shall prominently display the Identity Card issued to him/her by the

Bank while dealing with the prospective customer (prospect) on behalf of the

Bank.

MC/HLC should handle with care their responsibilities particularly aspects like

soliciting customers, hours of calling, privacy of customer information and

conveying correct information about products on offer, etc.

MC/HLC will not handle, on behalf of the Bank, any transaction for which they are not

authorized as per the agreement.

MC/HLC should not resort to intimidation or harassment of any kind, either

verbal or physical, against any person while dealing on behalf of the Bank.

MC/HLC will refrain from action that could damage the integrity and

reputation of the Bank.

Every MC/HLC shall -

a) Adhere to extant instructions as specified in Bank's fair practice code for

lending.

b) Disseminate requisite information in respect of products offered by the Bank

through him and take into account, the needs of the prospect while

recommending the specific product.

c) Render necessary assistance to the prospect in complying with requirements

for transacting business with the Bank.

d) Not enter the prospect's residence / office against his / her wishes.

e) Respect the prospect's privacy.

f) If the prospect is not present and only family members / office persons are

present at the time of the visit, end the visit with a request for the prospect to

call back.

g) Provide his / her telephone number or the concerned Bank office's contact

details, if asked for by the customer.

h) Limit discussions with the prospect to the business on hand - Maintain a

professional distance.

i) Any communication sent to the prospect should be only in the mode and

format approved by the Bank.

j) Normally discuss the prospect's interest only with the prospect or any other

individual / family's accountant / Secretary / spouse authorized by the

prospect.

k) Be properly dressed.

Don'ts : MC/HLC shall not -

a)

b)

c)

d)

e)

f)

g)

h)

i)

j) k)

l)

m) n)

o)

p)

Solicit or procure any business without holding valid authority for this purpose. Induce the

prospect to omit any material information.

Induce the prospect to submit any wrong information or documents.

Behave in a discourteous manner with the prospect.

Offer different rates, advantages, terms and conditions other than those offered by the

Bank.

Mislead the prospect on any service / product offered.

Mislead the prospect about their business or organization's name, or falsely represent

themselves.

Make any false / unauthorized commitment on behalf of the Bank for any

facility / service.

Accept gifts or bribes of any kind from the prospects. If offered a bribe or

payment of any kind, he/ she must report the offer to his/her management.

Share any customer information, in any form whatsoever, with any other

person / entity.

Violate this code.

Use professional status as MC/HLC for furthering personal relations with the

customers.

Divulge unauthorized information, written or spoken, to any customer or any

other person.

Use obscene, profane or abusive language and / or hold out any threats.

Use violent or any criminal means which may harm the reputation or property

of the borrower, guarantor or any other person.

Act in any manner which will affect the reputation of the Bank.

APPLICATION FORMAT

EMPANELMENT OF MARKETING CONSULTANT

Annexure-4

PASTE (not staple) A RECENT PASSPORT SIZE PHOTOGRAPH HERE AND SIGN ACROSS IT IN FULL WITH DATE

To,

The Regional Manager,

Bank of Baroda,

Regional Office,

-----------------------

Sir,

APPLICATION FOR EMPANELMENT OF OFFICERS/EMPLOYEES RETIRED FROM THE

BANK, AS MARKETING CONSULTANT IN BANK OF BARODA I submit herewith my application for the post of Marketing Consultant in Bank of Baroda. I

have read the Role, Remuneration and Terms & Conditions relating to the post and advise that

they are acceptable to me. 1. Full Name Shri/Smt/Kum (in Block Letters, as per degree certificate)

2. Father's / Husband's Name

3. P.F Index No.

4. Date of Retirement

(DD/MM/YYYY)

5. Name of Branch / Office from where retired:

6. Name and Branch Code wherefrom receiving pension.

7. Candidates address where he/she normally resides/ will reside wherefrom he/ she will

perform his/ her duties after selection. ( IN BLOCK LETTERS)

Di st

State

Pi n

CODE

Pho ne

with STD

Mobile No.

8. Date of Birth:

(DD/MM/YYYY)

A g e ( as on )

Y EAR S MONTHS

9. Category (SC/ST/OBC/GEN):

10. Educational Qualification:

11. Last 3 Assignments held covering minimum 5 years:

ASSIGNMENT

i) ii) iii)

12. Languages Known

FROM TO OFFICE/BRANCH

(Mark "S "in the appropriate box) Language Read Write Speak Understand

a)______________ [] [] [] []

b)______________ [] [] [] []

c)______________ [] [] [] []

13. Declaration

I hereby declare that

1) I retired from the Bank's service on attaining superannuation / VRS.

2) no punishment / penalty was inflicted on me during five years of my

service in the Bank preceding my retirement.

3) no case of CBI or any other Law Enforcement Agency is pending against

me and

4) I am physically fit to carry out duties of the Marketing Consultant

including continuous travel.

I further declare that all statement made in this application are true, complete and correct to the best of my knowledge and belief. I understand that in the event of any information being found untrue or incorrect at any stage of my not satisfying any of the eligibility criteria according to BANK OF BARODA, my candidature is liable to be cancelled. Place : ____________________ Signature: Date : Name of candidate:

APPLICATION FORMAT

EMPANELMENT OF HOME LOAN COUNSELORS

Annexure-4(A)

PASTE (not staple) A RECENT PASSPORT SIZE PHOTOGRAPH HERE AND SIGN ACROSS IT IN FULL WITH DATE

To,

The Regional Manager,

Bank of Baroda,

Regional Office,

-----------------------

Sir,

APPLICATION FOR EMPANELMENT OF INDIVIDUALS, AS HOME LOAN COUNSELORS IN BANK OF BARODA I submit herewith my application for the post of Home Loan Counselors in Bank of Baroda. I

have read the Role, Remuneration and Terms & Conditions relating to the post and advise that

they are acceptable to me. 1. Full Name Shri/Smt/Kum (in Block Letters, as per degree certificate)

2. Father's / Husband's Name

3. Candidates address where he/she normally resides/ will reside wherefrom he/ she will

perform his/ her duties after selection. ( IN BLOCK LETTERS)

Di st

State

Pi n

CODE

Pho ne

with STD

Mobile No.

4. Date of Birth:

(DD/MM/YYYY)

A g e ( as on )

Y EAR S MONTHS

5. Category (SC/ST/OBC/GEN):

6. Educational Qualification:

7. Languages Known

(Mark "√ "in the appropriate box) Language Read Write Speak Understand

a)______________ [] [] [] []

b)______________ [] [] [] []

c)______________ [] [] [] []

8. Experience: (Details of previous experience with experience certificate/proof if any Enclosed) 9. Reference of two reputed persons in the area:

I) _________________ II ) ______________________ _________________ _______________________ _________________ _______________________

10. Declaration

I hereby declare that

1) I have never been arrested or kept under detention/was imprisoned or bound

down/fined/convicted by a court of law for any offence or FIR lodged/complaint

registered/charges framed against me or any criminal case pending against me

before any court of law.

2) I am physically fit to carry out duties of the Home Loan Counselors including

continuous travel.

I further declare that all statement made in this application are true, complete and correct to

the best of my knowledge and belief. I understand that in the event of any information being

found untrue or incorrect at any stage of my not satisfying any of the eligibility criteria

according to BANK OF BARODA, my candidature is liable to be cancelled. Place : ____________________ Signature: Date : Name of candidate:

Note: The candidate has to submit copies photo identity proof, residential and permanent address

proof, details of previous experience certificate with experience certificate/proof if any.

Annexure- 5

Annexure- 8

DRAFT- AGREEMENT - MARKETING CONSULTANTS

This Agreement made at __________ on ____ day of ________ 20 Between

BANK OF BARODA, a body corporate constituted under the Banking Companies

(Acquisitions and Transfer of Undertakings) Act 1970, having its Head Office at Mandvi,

Baroda 390006 and corporate office at Baroda Corporate Centre, Plot No. C - 26, G Block,

Bandra Kurla Complex, Bandra (East), Mumbai 400 051, hereinafter referred to as 'BOB'

(which expression shall, unless it be repugnant to the meaning or context thereof, be

deemed

to mean and include its successors and assigns) of the One Part:

And

Mr/Mrs________________________, hereinafter referred to as "MARKETING

CONSULTANT" of the Other Part;

WHEREAS The Bank of Baroda is one of the largest public sector banks in India with a branch network

of over 5100+ branches in India and 104 branches/offices overseas, including branches of

our subsidiaries, spread in 24 countries. BOB desires to empanel the retired staff member

as a Marketing Consultants (MCs) to improve our competitive edge in the market. BOB has

invited offers from retired staff members who has requisite skills and capable of providing

the required services. In response to BOB's request, ____________also submitted his/her

offer and has represented to BOB that he/she has the requisite skill, knowledge,

experiences, expertise, infrastructure and capability to provide required and related

services to BOB. Accordingly BOB is entering into contract with ___________ for the

services to be rendered as Marketing Consultants.

NOW, THEREFORE, THIS AGREEMENT WITNESSETH AS FOLLOWS 1 : PERIOD OF CONTRACT

1.1 MARKETING CONSULTANT would be engaged on a contract basis for a period of 6

months.

1.2 On completion of 6 months, if his/her performance is satisfactory and depending on

his/her suitability and requirement of the Bank, the contract of service may be renewed

upto period of 6 months each at a time.

2 : JOB PROFILE OF MARKETING CONSULTANTS (MC)

2.1 Obtain leads on Home Loan requirements of individuals from various sources, viz.

builders, municipal approvals, etc.

2.2 Meet intending Home Loan borrowers at a place and time convenient to them and

explain Home Loan product details. MC will submit completed and signed Home Loan

application along with all the requisite documents, to the identified Retail Loan

Factory/Branch and receive the tracking no. 2.3 Follow up the application till sanction.

2.4 The role of MARKETING CONSULTANTS is limited to the sourcing of

proposal only.

2.5 In case of any dispute, respective Regional Manager's decision will be

final.

2.6 Code of Conduct- the MARKETING CONSULTANTS shall strictly

adhere to the Code of Conduct annexed herewith and marked as Annexure-A, the

violation of which may lead to the termination of

Contract and legal action on the part of BOB

3 : TRAINING

3.1 Candidates empanelled as Marketing Consultants will be trained on product details

and marketing at Regional Office/Retail Loan Factory for a period of 2 days with the

support of Regional Office/Training Centre officials.

4 : TERMS OF CONTRACT

4.1 The MARKETING CONSULTANT would be working from his/her home (which will

be his/her office) or office set up by them.

4.2 MARKETING CONSULTANT would be under the administrative control of the

Deputy Regional Manager who will be responsible for his/her deployment. The Deputy

Regional Manager will allocate specific areas of operation to MARKETING

CONSULTANT where he/she should preferably concentrate for generation of leads and

identify/select Retail Loan Factory/branches where the Home Loan Proposals sourced by

the MARKETING CONSULTANTs will be placed for further processing.

4.3 The MARKETING CONSULTANTS may be permitted to submit the applications to

any RLF/ identified Branch as convenient to the borrower, through respective

RLF/identified branch where he is attached.

4.4 The number of MARKETING CONSULTANTS to be attached to each

RLF/identified Branch may be decided by the Regional Authority.

4.5 MARKETING CONSULTANTs may also be attached to the approved

Builders to source Home Loan proposals.

4.6 However, no fee will be paid to MARKETING CONSULTANTs for Home Loan

proposals directly submitted by the Builders/ their Executives where the Bank is required


5 : TARGETS FOR MARKETING CONSULTANTS

5.1 MARKETING CONSULTANT would also be given minimum monthly target of 5

Loans per month with minimum target of 10 loans for two months.

5.2 If he/she fails to reach the minimum target in a particular month, the numbers booked

in the month will be rolled over to the next month and added to next month's performance.

5.3 If he/she fails to meet the target of 10 loans in two months, his/her contract may not

be further renewed, at the discretion of the Regional Manager. Although the contract is for

6 months, there will be review at the end of every two months and if the targets are not

achieved, the contract may be terminated with one month notice.

6 : FEE 6.1 MARKETING CONSULTANT would be paid fee at the following rates:






In all the above cases, the maximum fee should not exceed Rs.50,000/- per

proposal.

(B) MARKETING CONSULTANTs sourcing loan proposals aggregating

Rs.5 crores or more per month: 0.35% of total home loans sourced during the

month subject to maximum of Rs. 50,000/- per proposal.

(C) For sourcing of project approval proposal alongwith necessary

papers:



expenses.

* The fee is inclusive of Service tax and any other tax, if



* The fee will be paid after conversion of the leads into business.

i.e, on first disbursal of the loan.

* Fee will be paid on monthly basis on first week of following

month.

* No other payment will be made to MARKETING CONSULTANT in

the form of salary/ allowance/ out-of-pocket expenses etc.

6.2 With the introduction of Baroda Home Loan Suraksha Personal Loan Scheme for

funding the premium amount under Group Credit Life

Insurance, it may be clarified that:

6.2.1 The remuneration payable to MARKETING CONSULTANTs may include the

Baroda Home Loan Suraksha Personal Loan limit. The aggregate fee calculated at the rate

mentioned above of both Home Loan and Suraksha Personal Loan Limit is subject to

maximum amount mentioned above.

6.2.2 The aggregate fee thus calculated may be shown separately so as to highlight that the

MARKETING CONSULTANTs are getting fee for Baroda Home Loan Suraksha Personal

Loan account also.

6.2.3 No fee is payable on Baroda Home Loan Suraksha Personal Loan account


7 : IDENTIFIED CENTRES FOR DEPLOYMENT OF MARKETING

CONSULTANTS

7.1 All Retail Loan Factories or Branches identified by the Regional Authority for areas

wherever there is no RLF.

8 : IDENTITY CARDS AND UNIQUE IDENTIFICATION CODE

8.1 The concerned Regional Office shall issue identity cards to the Marketing Consultants,

clearly stating therein the validity period. However, the Marketing Consultant shall not be

permitted to use the Bank's name or logo on their signboards, name-plates, visiting cards,

stationery, etc.

8.2 Marketing Consultants (MC) shall not be entrusted with any financial/

passing/administrative powers. They shall not be given access to Bank's computers, Core

Banking platform, ascrom data etc.

8.3 All MARKETING CONSULTANTS will be allotted a Unique Identification

Code (MCID). The first two characters will be 'MC' suffixed by Pension/PF No. of the

retired official/employee.

9 : DELEGATION

9.1 The MARKETING CONSULTANT shall not delegate or permit any other

person to perform any of the work, service or other performance required by him/her under

the contract without the prior written consent of the BOB.

10 : CONFIDENTIALITY

10.1 The MARKETING CONSULTANT shall keep confidential any

information obtained under the contract and shall not divulge the same to any third party

without prior consent in writing by BOB. In case of non- compliance of the confidentiality

agreement, the contract is liable to be terminated by BOB and the MARKETING

CONSULTANT shall be liable for the penalty, if any, which Bank may suffer on account

of the conduct of the

Marketing Consultant 11 : INDEMNITY

11.1 MARKETING CONSULTANT shall, at its own expenses, indemnify,

defend and hold harmless BOB and its officers, directors, employees, representatives, and

assign from and against any and all third party losses and liability (including and not

limited to liabilities, judgments, damages, losses, claims, costs and expenses, including

attorneys fees and expenses) that may be occurring due to, arising from and relating to the

acts, errors, breach of confidentiality, misrepresentations, willful misconduct or

negligence of the MARKETING CONSULTANT in performance of his/her obligations

under this Agreement.

12 : TERMINATION

12.1 The contract can be terminated from either side with a notice period of one month.

12.2 BOB can terminate the contract with immediate effect and without giving reasons, if

the acts of MARKETING CONSULTANT are prejudicial to the business and reputation of

the Bank.

13 : DISPUTE RESOLUTION

13.1 The parties shall endeavour to settle any disputes, differences or claims whatsoever

related to or arising out of this Agreement amicably by mutual discussion. However, the

decision of BOB shall be final.

14 : GOVERNING LAWS AND JURISDICTION

14.1 This Agreement shall be governed in accordance with the Laws of India for the time

being in force and will be subject to the exclusive jurisdiction of Courts at ______________.

15 : INDEPENDENT ARRANGEMENT

15.1 Nothing contained in this Agreement shall be construed or deemed to create any

association, partnership or joint venture or employer-employee relationship in any manner

whatsoever between the parties. The MARKETING CONSULTANT agrees not to hold it

out to be an employee or servant of BOB or Affiliate thereof.

IN WITNESS WHEREOF, this Agreement has been executed by the Parties hereto on the

day and year first above written. Signed and Delivered by the within named

BOB, by the hand of Shri ---------------------,

Its authorized official in the presence of:

1.

2.

Signed and Delivered by the within named

Mr/Mrs--------------------,

Age:_______ Address:________

In the presence of:

1.

For Bank of Baroda

Annexure- 9

DRAFT- AGREEMENT - HOME LOAN COUNSELOURS

This Agreement made at __________ on ____ day of ________ 20 Between

BANK OF BARODA, a body corporate constituted under the Banking Companies

(Acquisitions and Transfer of Undertakings) Act 1970, having its Head Office at Mandvi,

Baroda 390006 and corporate office at Baroda Corporate Centre, Plot No. C - 26, G Block,

Bandra Kurla Complex, Bandra (East), Mumbai 400 051, hereinafter referred to as 'BOB'

(which expression shall, unless it be repugnant to the meaning or context thereof, be

deemed

to mean and include its successors and assigns) of the One Part:

And

Mr/Mrs________________________, hereinafter referred to as "HOME LOAN

COUNSELOR" of the Other Part; WHEREAS

The Bank of Baroda is one of the largest public sector banks in India with a branch network

of over 5100+ branches in India and 104 branches/offices overseas, including branches of

our subsidiaries, spread in 24 countries. BOB desires to empanel HOME LOAN

COUNSELORs (HLCs) to improve our competitive edge in the market. BOB has invited

offers from individuals who has requisite skills and capable of providing the required

services. In response to BOB's request, ____________also submitted his/her offer and has

represented to BOB that he/she has the requisite skill, knowledge, experiences, expertise,

infrastructure and capability to provide required and related services to BOB. Accordingly

BOB is entering into contract with ___________ for the services to be rendered as HOME

LOAN COUNSELORS.

NOW, THEREFORE, THIS AGREEMENT WITNESSETH AS FOLLOWS 1 : PERIOD OF CONTRACT

1.1 HOME LOAN COUNSELOR would be engaged purely on temporary basis.

1.2 On completion of every 6 months, if his/her performance is satisfactory and depending

on his/her suitability and requirement of the Bank, the

contract of service may be renewed upto period of 6 months each at a time.

2 : JOB PROFILE OF HOME LOAN COUNSELORS (HLC)

2.1 Obtain leads on Home Loan requirements of individuals from various sources, viz.

builders, municipal approvals, BOB branches etc.

2.2 Meet intending Home Loan borrowers at a place and time convenient to them and

explain Home Loan product details. HLC will submit completed and signed Home Loan

application along with all the requisite documents, to the identified Retail Loan

Factory/Branch and receive the tracking No. 2.3 Follow up the application till sanction.

2.4 The role of HOME LOAN COUNSELORS is limited to the sourcing of

proposal only.

2.5 In case of any dispute, respective Regional Manager's decision will be

final.

2.6 Code of Conduct- the HOME LOAN COUNSELORS shall strictly

adhere to the Code of Conduct annexed herewith and marked as Annexure-A, the

violation of which may lead to the termination of

Contract and legal action on the part of BOB

3 : TRAINING

3.1 Candidates empanelled as HOME LOAN COUNSELORs will be trained on product

details and marketing at Regional Office/Retail Loan Factory for a period of 1 day with the

support of Regional Office/Training Centre officials.

3.2 All newly recruited HLCs will be attached to an RLF for one month for handholding

purpose.

4 : TERMS OF CONTRACT

4.1 HOME LOAN COUNSELOR would be under the administrative control of the Deputy

Regional Manager who will be responsible for his/her deployment. The Deputy Regional

Manager will allocate specific areas of operation to HOME LOAN COUNSELOR where

he/she should preferably concentrate for generation of leads and identify/select Retail

Loan Factory/branches where the Home Loan Proposals sourced by the HOME LOAN

COUNSELORs will be placed for further processing.

4.5 HOME LOAN COUNSELORs may also be attached to the approved Builders to

source Home Loan proposals.

4.6 However, no fee will be paid to HOME LOAN COUNSELORS for Home Loan

proposals directly submitted by the Builders/ their Executives where the Bank is required


5 : TARGETS FOR HOME LOAN COUNSELORS

5.1 HOME LOAN COUNSELOR would bring in a minimum business as

under in every 6 months period:

(a) For HLCs empanelled at Branches linked to RLFs : Rs. 2 crore

(b) For HLCs empanelled at Branches not linked to RLFs: Rs. 1 crore

5.2 If the HLC fails to bring in a minimum business as above in every 6 months period,

his services will stand automatically terminated. However, he/she will be paid fee for the

proposals already mobilized. 6 : FEE 6.1 HOME LOAN COUNSELOR would be paid fee at the following rates:






In all the above cases, the maximum fee should not be exceed Rs.50,000/- per

proposal.

(B) HOME LOAN COUNSELORs sourcing loan proposals aggregating

Rs.5 crores or more per month: 0.35% of total home loans sourced during the

month subject to maximum of Rs. 50,000/- per proposal.

(C) For sourcing of project approval proposal alongwith necessary

papers:



expenses. * The fee is inclusive of Service tax and any other tax, if



* The fee will be paid after conversion of the leads into business.

i.e, on first disbursal of the loan.

* Fee will be paid on monthly basis on first week of following

month.

* No other payment will be made to HOME LOAN COUNSELOR in

the form of salary/ allowance/ out-of-pocket expenses etc.

6.2 With the introduction of Baroda Home Loan Suraksha Personal Loan Scheme for

funding the premium amount under Group Credit Life

Insurance, it may be clarified that:

6.2.1 The fee payable to HOME LOAN COUNSELORs may include the Baroda Home

Loan Suraksha Personal Loan limit. The aggregate remuneration calculated at the rate

mentioned above of both Home Loan and Suraksha Personal Loan Limit is subject to

maximum amount mentioned above.

6.2.2 The aggregate fee thus calculated may be shown separately so as to highlight that the

HOME LOAN COUNSELORs are getting remuneration for Baroda Home Loan Suraksha

Personal Loan account also.

6.2.3 No fee is payable on Baroda Home Loan Suraksha Personal Loan account


7 : IDENTIFIED CENTRES FOR DEPLOYMENT OF HOME LOAN

COUNSELORS

7.1 All Retail Loan Factories or Branches identified by the Regional Authority for areas

wherever there is no RLF. 8 : IDENTITY CARDS AND UNIQUE IDENTIFICATION CODE

8.1 The concerned Regional Office shall issue identity cards to the HOME LOAN

COUNSELORs, clearly stating therein the validity period. However, the HOME LOAN

COUNSELOR shall not be permitted to use the Bank's name or logo on their signboards,

name-plates, visiting cards, stationery, etc.

8.2 HLCs shall not be given access to Bank's computers, Core Banking platform, ascrom

data etc.

8.3 All HLCs will be allotted a Unique Identification Code (HLCID) of 12 characters. The

first three character will be 'HLC' suffixed by Region identification code and Serial No.

9 : DELEGATION

9.1 The HOME LOAN COUNSELOR shall not delegate or permit any other

person to perform any of the work, service or other performance required by him/her under

the contract without the prior written consent of the BOB.

10 : CONFIDENTIALITY

10.1 The HOME LOAN COUNSELOR shall keep confidential any information

obtained under the contract and shall not divulge the same to any third party without prior

consent in writing by BOB. In case of non-compliance of the confidentiality agreement, the

contract is liable to be terminated by BOB and the HOME LOAN COUNSELOR shall

liable for the penalty, if any, which Bank may suffer on account of the conduct of Home

Loan Counselor.

11 : INDEMNITY

11.1 HOME LOAN COUNSELOR shall, at its own expenses, indemnify,

defend and hold harmless BOB and its officers, directors, employees, representatives, and

assign from and against any and all third party losses and liability (including and not

limited to liabilities, judgments, damages, losses, claims, costs and expenses, including

attorneys fees and expenses) that may be occurring due to, arising from and relating to the

acts, errors, breach of confidentiality, misrepresentations, willful misconduct or

negligence of the HOME LOAN COUNSELOR in performance of his/her obligations

under this Agreement.

12 : TERMINATION

12.1 The contract can be terminated from either side with a notice period of one month.

12.2 BOB can terminate the contract with immediate effect and without giving reasons, if

the acts of HOME LOAN COUNSELOR are prejudicial to the business and reputation of

the Bank.

13 : DISPUTE RESOLUTION

13.1 The parties shall endeavour to settle any disputes, differences or claims whatsoever

related to or arising out of this Agreement amicably by mutual discussion. However, the

decision of BOB shall be final.

14 : GOVERNING LAWS AND JURISDICTION 14.1 This Agreement shall be governed in accordance with the Laws of India

for the time being in force and will be subject to the exclusive jurisdiction of

Courts at ______________.(Location of respective Regional Office)

15 : INDEPENDENT ARRANGEMENT 15.1 Nothing contained in this Agreement shall be construed or deemed to create any

association, partnership or joint venture or employer-employee relationship in any manner

whatsoever between the parties. The HOME LOAN COUNSELOR agrees not to hold it

out to be an employee or servant of BOB or Affiliate thereof.

IN WITNESS WHEREOF, this Agreement has been executed by the Parties hereto on the

day and year first above written. Signed and Delivered by the within named

BOB, by the hand of Shri ---------------------,

Its authorized official in the presence of:

1.

2.

Signed and Delivered by the within named

Mr/Mrs--------------------,

Age:_______ Address:________

In the presence of:

1.

For Bank of Baroda

Documents

Annexure-1 Empanelment of retired staff of our Bank as Marketing Consultants - · PDF file · 2015-08-19Empanelment of retired staff of our Bank as Marketing Consultants - Detailed