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ODR Global proposes to share the commercial benefits of this venture with the users through an innovative Reward Point System.
The Reward Point System.
For the purpose of this scheme, the users of ODR Global services will be classified into the three categories namely, Adhoc Users, Frequent Users and Privileged Users.
Reward points will accrue to each of these category of users based on
1. Usage of Paid services and payments made thereof or
2. Value of Pre paid Service Coupons purchased.
Current rate of accrual of reward points are as follows:
Adhoc Usage Reward Points (AURP) will be credited at the rate of 5 points for every Rs 100 paid as platform usage fee.
Frequent Usage Reward Points (FURP) at the rate of 10 points for every Rs 100 paid as platform usage fee.When a user reaches the milestone of 4 usages in 12 months, his unused accumulated points for the previous three sessions would also be upgraded from AURP to FURP.
Privileged User Reward Points (PURP) will be credited for every purchase of Prepaid Service Coupons. The Prepaid PURP coupons provide the right to use the Arbitration/Mediation platform under ODR Global in a period upto 12 months from the due date. Minimum purchase value of PURP coupons will be Rs 5000/-
The rate of reward credit would depend on the maturity period of the coupons and will be as follows.
PURP-3: Coupons at the rate of 25 points for every Rs 100 usable between 3 to 15 months.
PURP-6: Coupons at the rate of 50 points for every Rs 100 usable between 6 to 18 months
PURP 12: Coupons at the rate of 75 points for every Rs 100 usable between 12 to 24 months
PURP-36: Coupons at the rate of 100 points for every Rs 100 usable between 36 to 48 months
PURP-48: Coupons at the rate of 125 points for every Rs 100 usable between 48 to 60 months.
PURP coupons are Non Refundable but are Transferable. They can be transferred by the owner to other intending users at a price of the choice of the buyer and seller subject to registration of the transfer with ODR Global.
Use of Reward Points
Reward Points can be exchanged as payment in respect of the subsequent use of the Platform and will work as a discount on the fees to be otherwise paid.
Currently the exchange rate for the Reward Points is One Point=one Rupee.
Pre-ponement of Usage of PURP
At the request of the owner of a PURP and at the sole discretion of ODR Global, PURP coupons that provide for deferred period usage may be converted to AURP or FURP for immediate usage. The reward points will be suitably re-calculated.
P.S: The rate of accrual or encashment of Reward Points may vary from time to time and will be announced on this website from time to time
Proposed Crowd Funding through PURP Coupons
In order to develop an avenue for Crowd funding, Ujvala Consultants proposes an innovative system that uses the PURP points as a unit of investment with short term liquidity with long term growth potential. However, it may be noted that the system is designed to share the prospects with the User community and not by pure investors who have no desire to use the facility.
For this purpose, the Reward Points under the PURP shall be considered transferable. Any holder can give a notice to ODR Global to register such a transfer and the beneficiary will be allowed to use the credit for his use. Appropriate procedure for this will be notified on the website. This process enables the holder to encash the coupons by transferring them to those who want to use the service at a price that leaves both the buyer and the seller of PURP at an advantage. This would assume relevance when there could be capacity issues in scheduling urgent meetings as well as the price benefits that may accrue.
The exchange would be facilitated on the website itself so that service users would be given an opportunity to buy outstanding coupons at a discount from other holders instead of buying the service at the published rate.
As a result of these proposals, any investor who invests in PURP would provide funds to the project securing himself with the possibility of encashing the investment by trading the PURP coupons.
Example: If A invests Rs 10000/- in PURP, he will be entitled to use Arbitration/Mediation platform for a value of Rs 10000/- upto a period of 1 year from the due date of the coupon. The accumulated PURP credit which could vary between 25% to 125%, depending on the period of the coupon, will be tradable and the beneficiary can use it within a period of 1 year from due date. If the PURP points are traded at par, the first PURP buyer would get a full refund if it is a 3 year coupon and lesser for shorter periods. This will be in addition to his own use up to the value of PURP.
48 month option has been provided for such of those buyers who may not be able to use the facility at all so that they may get a marginal return for the funds invested though their right to use the services is retained between the 48 and 60 month period.
Ujvala Consultants Pvt Ltd is also considering a proposal to hive off ODR Global into a separate Company and issue equity stake or offer equity stakes of Ujvala itself to the investors who invest in ODR Global. If the proposal is finalized and implemented, it is proposed that any outstanding value of Prepaid Coupons be offered for optional conversion into equity.
The rate of such conversion and the maximum limit upto which conversion options would be allowed, will be decided on the basis of appropriate valuation from time to time. Until further notice, it is proposed that the conversion of prepaid coupons to equity stake could be at the rate of Rs 2.5 lakhs=1%. of ODR Global or 0.5% of Ujvala. The maximum convertible limit at present is pegged to 10%. If there is any change in the rate of exchange, it will be applicable to all outstanding coupons after a waiting period of 3 months.
Disclaimer
The optional equity conversion proposal is provided here with the specific disclaimer that this is only a tentative proposal under consideration and there is no specific action taken in this direction at present.
The information is provided here for the purpose of transparency and also to keep on record the Intellectual Property related to an innovative system of crowd funding that this system represents.