DSA(Direct Selling Agent) Agreement

A Legal Agreement written between a Bank and an Agent authorized to sell the services of a Bank/ Financial Institutions is a DSA  Agreement.

It comprises details about the appointment, rights and answerability, and all terms and conditions related with the services of a Direct Selling Agent (DSA) certified by a Bank/ Financial Institutions for the purpose of selling or distributing its products/services within the specified jurisdictional areas on its behalf.

Procedure for Direct Selling Agent Agreement:

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DSA Agreement

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Ministry of Consumer Affairs, Govt of India in it’s latest multi-level marketing (MLM) guidelines issued on September 9, 2016, written that Legal Agreement is must between company and agent.

The lower section provides Knowledge about the Procedure For Direct Delling Agent Agreement, to help direct selling Agents located all across India. Professionals of our famous Law firm  Legalraasta.com, also offer efficient services for making various legal documents needed by companies, firms, and organizations active in various economic fields in entire India.

Uses of DSA Agreement:

  • DSA Agreement can be beneficial for both the bank and DSA agent as it included all the information about the arrangement made between Bank/Financial institution and agent for doing business in the future.
  • No party can violate any of the rule written in the agreement doing so will lead to a termination of the agreement.
  • One of the most important aspects of DSA agreement is that DSA can use the trademark of the Bank/Financial institution but this is limited to some extent defined by the Bank/Financial institution in DSA agreement.
  • DSA Agreement comprises all the information about the commission or compensation to be provided to the DSA on completing a sales clearly.

As reported by the multi-level marketing (MLM) protocol, every Direct Selling Entity must assassinate a wisely written DSA Agreement conflicting with the manner designated in Section 10 of the Indian Contract Act of 1872, for the purpose of enabling a direct selling agent. generally, the entire procedure for finalizing a direct selling agent agreement covers the processes of drafting the agreement, receiving consent and signatures of the DSA being authorized by a bank, and authentication of the mutually agreed DSA agreement.

Advantages of Direct Selling

Direct selling, unique method beneficial from all sides

Benefits for the DSA:

  1. DSA can create and run his own business at minimum cost/low risk.
  2. Flexible earning opportunities
  3. Flexibility to choose working hours
  4. Can do the partnership in business with spouse or family members.
  5. Both Part-time and full-time work opportunity is available
  6. No higher Education qualification is required.
  7. Meaningful training and support from companies.
  8. Large range of Services available.
  9. Social contact and personal recognition.

Benefits for the Consumers:

  1. Opportunity to choose from the variety of products and test the services.
  2. Additional protection if withdraw the purchase within given period.
  3. DSA is in direct contact.
  4. guarantee and after-sales services.
  5. Flexible buying hours.

Benefits to the Bank/Financial Institution:

  1. The good method to get into the new market with comparably low cost,  especially providing unique products or services
  2. No need for high capital investment.
  3. No prior business experience required.
  4. The requirement for special educated works is not necessary
  5. Sufficient in acquiring the initial interest and attention of prospects- a personal touch
  6. Unique competitive strategy.
  7. No need for advertising

Benefits for the Economy and State:

  1. Open new earning opportunities and a boom to an economy.
  2. Creates a channel of distribution away from large retail distribution unities.
  3. Creates micro-enterprises
  4.   Introduces self-employment
  5. Develops entrepreneurship.
  6. Contribute to national economic welfare

 

Benefits for the Society:

  1.  Self-employment opportunities.
  2.   Entrepreneurship.
  3.  No gender, age and disability discrimination.
  4.  Globalisation.
  5.   Offers alternatives to large outlets.

 

 

 

 

 

About the Author:

Pulkit Jain is the founder of LegalRaasta – India's top portal for registration, trademark, return filing and loans. Pulkit is a veteran CA with over 10+ of experience.