1.  GENERAL

 

1.1.”T.D.R. Bazaar Infrastructure Pvt. Ltd Company” hereinafter referred to as “T.D.R. Bazaar” is the intermediary consulting company between the Buyer and Seller of the Development Right Certificate, in short D.R.C. issued by the local municipal authority i.e. B.B.M.P. / B.D.A. and its role will be limited to the extent of providing multiple services in respect of buying / selling of D.R.C. after being issued by the concerned authority;

 

2.  REJECTION:

 

2.1.The T.D.R. Bazaar shall not be responsible in case of the procurement of D.R.C. or issuance of utilization certificate was got rejected / cancelled by the concerned authorities due to the a) order passed by the competent court from time to time, or b) title deeds in respect of the property going to be surrendered was found to be in dispute, or c) DRC or issuance of utilization certificate was obtained in fraudulent means, or d) utilization application does not comply with the terms and condition of the authorities, and e) utilization application is not accompanied by the original D.R.C. or for any other reasons ;

 

2.2.If a holder of D.R.C. intends to transfer it to any other person, the application will be submitted to the concerned planning authority / BBMP/ BDA and T.D.R. Bazaar shall not be responsible in respect of issuance of transfer certificate being rejected for any reason by the concerned authority in favour of the new holders’ name i.e. the transferee ;

 

3.  GUARANTEE & INDEMNITY:

 

3.1. T.D.R. Bazaar shall not express or given implied guarantee in respect of procurement of D.R.C. or issuance of utilization certificate by the concerned authority / BBMP/ BDA;

 

3.2. T.D.R. Bazaar shall not indemnify any loss incurred due to the rejection of procurement of D.R.C. or issuance of utilization certificate by the concerned authorities before / after the transfer of the D.R.C.;

 

3.3. There is no time bound limit for the procurement of D.R.C. or issuance of utilization certificate or transfer of D.R.C. and T.D.R. Bazaar is not going to give any assurance in respect of the same. Its role is limited to identifying the buyer & seller of D.R.C. and nothing more;

 

3.4. T.D.R. Bazaar does not assure or guarantee the buyer in regard to the legality, zoning or utilization of the D.R.C. The buyer has to legally and technically verify on his own before buying any D.R.C. and T.D.R. Bazaar shall not be responsible for the same;

4.  FIANCIAL COMMITMENT :

 

4.1. T.D.R. Bazaar shall not give or bear any financial commitments in respect of procurement of or transfer of D.R.C. or issuance of utilization certificate;

 

4.2. T.D.R. Bazaar shall not be liable for any claims in respect of the rejection of procurement of D.R.C. or issuance of utilization certificate by the concerned authorities;

 

4.3. T.D.R. Bazaar shall not be responsible for any individual claims and commitments made by the buyer/ seller in respect of any representations or commitments of any price made by them. The transaction is purely between the choice of buyer and seller and T.D.R. Bazaar shall in no way be held responsible;

 

4.4.T.D.R. Bazaar shall not be responsible for any individual claims and commitments made by the representatives unless and until the same is in written format issued by the Directors of the ”T.D.R. Bazaar Infrastructure Pvt. Ltd Company ” only ;

 

5.  APPLICABLE LAWS  :

 

5.1. The buyer / seller shall comply with all the applicable laws, byelaws, rules, regulations, orders, directions, notifications issued by the Government from time to time;

 

5.2. This Membership form binds the buyer / seller and whenever & wherever applicable his / her heirs, executors. Administrators, successors shall also be binding on them for the same;

 

6.  RESERVATIONS:

 

6.1. T.D.R. Bazaar reserves its right to accept or reject any application of membership at its discretion & shall have the right to cancel the membership “at its will” during the tenure of this membership without giving any reasons for the same;

 

6.2.T.D.R. Bazaar reserves its right to impose any terms and conditions depending upon the circumstances and shall hold its right to alter / amend / vary any terms and conditions hereinabove mentioned from time to time ;

 

6.3.If the buyer / seller who acts against the terms of this Membership Agreement shall be liable to pay compensation to the T.D.R. Bazaar by way of claims which will be fixed from time to time ;

 

6.4. T.D.R. Bazaar shall have a right of claiming all its dues or charges by any legal provision or by way of specific performance;

 

7.  ARBITRATION:

 

7.1.Any disputes and differences which are aroused during the transfer of D.R.C. between buyer / seller / T.D.R. Bazaar or if any  terms & conditions are violated, T.D.R. Bazaar is at liberty to refer the same to the Arbitrator who will be consensus for the parties as per the provisions of Indian Arbitration Act ;

 

7.2.That any order passed by the Arbitrator shall be challenged before the Court of law subject to the jurisdiction of Bengaluru only;

 

7.3. The jurisdiction for settlement of all disputes shall be at Bengaluru only and proceedings shall be held in English language only;

 

8.  CONFIDENTIALITY:

 

8.1. All the terms & conditions of this Membership Agreement should be kept confidential and should not be disclosed to the third party by either of the parties.