Client Service Level Agreement
This agreement is made between Hypernova analytics services Pvt Ltd, a Company registered under the provisions of Companies Act, 1956 having its registered office at 76-D, 1st floor, Udyog Vihar, Sector 18, Gurgaon, Haryana, 122015, CIN U74999HR2022PTC100598, GST No 06AAGCH1292Q1Z4 through its Director Himanshu Kumar which expression shall, unless repugnant to the context or meaning hereof, be deemed to include its successors/ administrators and assigns of the First Part, (hereinafter referred to as first party).
the user of this website referred to as hiring manager or corporate or client which expression shall, unless repugnant to the context or meaning hereof, be deemed to include its successors/ administrators and assigns of the Second Part, (hereinafter the “second party”).
Whereas, Hypernova analytics services Pvt Ltd (First Party) operates with the brand name of CredoHire. CredoHire is an analytics driven hiring platform in lines with the advance technological updates. CredoHire operates and works closely with private corporate organizations across tech industry to develop and build the boards and executive team that can meet the challenges, achieve the desired results and grab opportunities in every possible way to reshape the business landscape of an organization.
NOW THIS AGREEMENT WITNESSETH AND IT IS HEREBY AGREED BY AND BETWEEN THE PARTIES AS FOLLOWS:
1. That, Hypernova Analytics Service Pvt Ltd in the guise of its brand name ‘CredoHire’ shall offer its products and services to the Second party. The initiation of the recruitment process of different level employee for second party shall be done by the First party.
2. The business model and the operation of CredoHire shall be as following:
A. Second party shall upload the job description (JD) on CredoHire portal,access to which shall be given by the first party.
B. CV sourcing or candidate sourcing is always done by partner recruitment agencies, upskilling platforms who are active on CredoHire platform.
C. CredoHire platform consolidates and create a pool of best available CVs using their proprietary algorithms and verifies them to generate Credo verified CVs
D. CredoHire will charge a Corporate user for providing Credo verified CVs and this charge will be in the form of credits. Credo verified CVs are created after a candidate has been shortlisted by CredoHire’s AI powered algorithms and has been interviewed by CredoHire’s network of industry experts.
CredoHire’s Verification Process or Generation of Credo verified CVs : It is a two-step process
CredoHire shortlisting criteria is determined by CredoHire’s AI algorithms and does not guarantee 100% accuracy. CredoHire can not be held liable for any present or future damages to any of the stakeholders arising out of CredoHire’s shortlisting or Credo verified CVs.
CredoHire will try to the best of their abilities to shortlist and assess the candidates, so as to offer the best in class services to its users, clients and partners.
ii. SME verification or Subject matter expert verification – conducted by a network of industry experts working with CredoHire as freelancers.
Qualifying criteria for a CredoHire SME :
· Tier 1 pedigree – IITs/IIMs/ISB/BITS/NITs/Top brands (as defined by CredoHire)
· Minimum Corporate experience of 3 years
3. Feedback from both the steps is recorded on a scientific framework and CredoHire algorithm generate a Credo verified CV along with a Credo report. The framework is highly secured and encrypted.
4. CredoHire will offer Credo verified CVs to second party for every JD along with a detailed analytics report.
5. Delivery SLA – Listed below as per the operating business model. Delivery SLA timeline will start only after this agreement is signed by the client and JD has been uploaded on CredoHire portal
6. The first party shall attempt and try to render prompt, swift and smooth services to the second party. If due to unavoidable circumstances, there is any sort of delay on part of the first party then in such a case the first party shall not be liable for any sort of damages, cost, legal actions or liabilities. The second party shall not raise any claim against the first party in case of any such delay.
7. This agreement may be terminated by either of the parties by giving a one month written notice. The second party undertakes to clear all the pending dues to the first party.
8. Operating Model:
● CredoHire will offer features as per the plan purchased by the second party and the details of which are listed on website, same can be referred here.
● Second party need to make payments as per the plan purchase and first party will offer services as per the plan
● For enterprise plan, custom offerings as well as pricing plan will be shared separately over email.
● Hiring fee is applicable only after the successful hiring for any role and payment needs to be done within 30 days of candidate joining the company. First party may allow some grace period to the second party for making payments as per the discretion of the first party.
● Delayed payment penalty: 3% per month (30 days) to be calculated on pro-rata basis post due date
The first party or CredoHire declares that it shall adhere to the best possible practices to recruit the candidates on the basis of a candidate’s qualification, experience. Neither the second party nor its associate shall claim against the first party or CredoHire, if the first party finds that any candidate as appointed is not up to the expectations of the first party. Verification is done on a sampling basis and CredoHire does not verify each and every CV point. Hence can’t be held liable for any damages, employee performance, tenure, etc.
Breach of the terms and conditions:
If the second party appoints any of the candidate from the pool of Credo verified CVs as provided by the first party and intentionally omits to inform the second party, then in such a case the first party shall pay damages and compensation of INR 5,00,000/- (Five Lac) to the first party. Further, if the second party fails to pay the hiring fee then the first party shall be free to initiate legal proceedings with appropriate authorities for the recovery of the amount.
Non-Disclosure: The parties agree and acknowledge that, as a result of negotiating, entering into and performing this Agreement, each party has and will have access to certain of the other party’s Confidential Information. Each party also understands and agrees that misuse and/or disclosure of that information could adversely affect the other party’s business. Accordingly, the parties agree that, during the Term of this Agreement and thereafter, each party shall use and reproduce the other party’s Confidential Information solely for purposes of this Agreement and only to the extent necessary for such purpose and shall restrict disclosure of the other party’s Confidential Information to its employees, consultants or independent contractors with a need to know and shall not disclose the other party’s Confidential Information to any third party without the prior written approval of the other party.
Each Party will kee the other Party’s confidential and proprietary information confidential and will not use it for any purpose other than to perform its obligations under this Agreement. Each Party agrees that (i) All information communicated to it by the other, whether before or after the Commencement Date, (ii) All information identified as confidential to which it has access in connection with the Services, specifically pricing or fee negotiations or the performance thereof, whether before or after the Commencement Date including, but not limited to, the User Information and the FIRST PARTY Raw Materials, and (iii) This Agreement and the Parties rights and obligations hereunder, are and will be deemed to have been received in confidence and will only be used only for the purposes of this Agreement (hereinafter collectively referred to as “Confidential Information”. Each Party agrees to use the same means as it uses to protect its own confidential information, but in no event less than reasonable means, to prevent the disclosure and to protect the confidentiality thereof. No Confidential information will be disclosed to any third parties by the second party without the prior written consent of the FIRST PARTY. Only exception can be display of association between first party and second party on social media/business websites/documents. Display of association beyond these would require prior written consent by either party.
No Master-Servant / No Principal – Agent / No Joint Venture
Neither this Agreement, nor any terms and conditions contained herein may be construed as creating or constituting (a) Master-Servant (b) Principal – Agent (c) a partnership, joint venture or agency relationship between the Parties, or (d) allow either party to create or assume any obligation on behalf of the other for any purpose whatsoever. All dealings between the Service Provider and second party shall be on Principal-to-Principal basis.
The second party shall hold FIRST PARTY harmless and indemnified from all losses, damages, claims, penalties etc. which FIRST PARTY may receive, incur or is imposed by any third party claim arising out of this agreement by alleged reason or any representation of the Service Provider or by reason of any breach by the Service Provider of any of its covenants or obligations under this Agreement.
The obligations of the Parties will be suspended during any period of Force Majeure. In the event of the occurrence of any Force Majeure, the Party claiming Force Majeure shall use reasonable efforts to avoid or remove the inability to perform its obligations under this Agreement. Force Majeure conditions shall be specifically war, riots, earthquakes, hurricanes, lightning, and explosions. The term also includes energy blackouts, unexpected legislation, government interventions, act of god, natural disasters, lockouts, slowdowns, and strikes.
Each Party agrees, with respect to any activities undertaken relating to this Agreement, to comply with the provisions of all applicable Laws related to corruption in India viz. the Indian Penal Code, 1860, The Prevention of Corruption Act, 1988, The Benami Transactions (Prohibition) Act, 1988 and The Prevention of Money Laundering Act, 2002 and other relevant laws applicable globally in this regard (the “Legislation”).
The Parties represent and warrant that all acts and conditions required by law by each respective Party to authorize the execution, delivery and performance of this Agreement have been duly performed and obtained, and further that the individual signing this Agreement on its behalf is fully authorized to sign on behalf of and bind it.
In the event of disagreement with respect to any aspect of this Agreement, the Parties agree to discuss in good faith to reach an amicable resolution, and to escalate such resolution process to the appropriate members of their respective management organization who have the power and authority to achieve a successful resolution. Any dispute or difference defying an amicable settlement shall be referred to the sole arbitrator to be appointed by both the parties. The award given by the Arbitrator shall be final and binding on both the parties. The language of Arbitral proceedings will be English. The Arbitration shall be governed by the provisions of the Indian Arbitration and Conciliation Act 1996. The venue of Arbitration shall be at Gurgaon, Haryana. The arbitrator shall be appointed by the first party.
This Agreement may be signed in multiple counterparts, each of which will be considered an original, and all of which will be considered one and the same document. This Agreement may be executed online on CredoHire website by agreeing to terms of services by the user.