The agreement is made on the 9th January 2022 by and between Fare Transportation Limited

(hereinafter referred to as ‘Client’) and Ikigai HR Services Limited. Fare Transportation

Limited wishes to engage the services of Ikigai, which is in the business of professional
services (Hereinafter referred to as ‘Service Provider’)

TERMS AND CONDITIONS FOR TALENT ACQUISITION

1. Information:
The Client will provide the following information and documents to enable the service
provider to have a proper understanding of the Client’s need:
• Company profile.
• Organizational structure and departmental structure.
• Role Profile and Job Description (e.g. JD).
• Breakdown of estimated monthly cost to company (CTC)/Gross Salary.
• Employee Requirement form

2. Commencement of Service:
The commencement of the services shall commence after an agreement is signed by
both parties as well as upon receiving necessary information and documents i.e
Employee Requirement Form by the Client.

3. Pre-selection Recruitment Process

Identify suitable candidates; interview and forward short-listed candidates to the
Client for further interviews and selection.
Recruitment services will include but not limited to

• Identifying suitable candidates from the market, resumes retrieved from database
and resumes received against job advert, if any.
• Ikigai will be responsible to send the Short-listed candidates per position until
client is satisfied as per requirement. However, the numbers may vary due to non-
availability of suitably qualified interested candidates in the market and/or the
unique job requirements. If candidates are not selected from initial shortlisted
candidate, service provider will provide additional candidate upon mutual
discussion.

4. Recruitment Completion Time Frame:

Maximum thirty (30) working days’ time will be allocated to complete an assignment.
The first batch of resumes will be submitted to client within 7-10 working days and
the completion date of an assignment will be calculated from the receipt date of the
Work Order to the Final Offer Letter issued for the selected candidate from the
respective Client.

In case the Service Provider is unable to complete an assignment successfully within

first thirty (30) working days’ time due to uncontrollable factors, the Client will allow
further fourteen (14) or more working days’ time to find the right fit for positions
required. Service charge for the extended time allowed for a particular assignment
will be considered upon mutual discussion.
5. Selection of Candidates:
The Client shall negotiate the terms & conditions of employment including the
remuneration package and make an offer to the selected candidate once a suitable
candidate is identified through proper interview process. The Client reserves the right
not to select any candidate referred to by Ikigai if the candidates do not match the
selection criteria’s. The Client is requested to communicate the interview results by
email to the Ikigai official email address.

6. Replacement of Candidates:
Ikigai shall give the client a 3-months guarantee for employees placed and shall
provide One (01) free of charge replacement of the employees who leave the job at their
own will or being terminated during this time.

7. Professional Fee:
The professional fee for the service is 100% of one-month Gross Salary exclusive of
any variables paid to the employee by an employer. Bills will be submitted to client
excluding VAT Charges.
8. Appointment Letter:
Within 7 days’ of accepting the job offer/appointment letter by a selected candidate,
the Client will provide Ikigai with a copy of appointment letter and detailed
breakdown of the candidate’s monthly cost to company (CTC) for the Service
Provider’s information and record. Similarly, once a candidate joins, the Client will
inform the Service Provider to enable them to raise invoice for professional fee.
9. Invoice Settlement Period:
Ikigai will submit the invoice of the professional fees, once the selected candidate joins
the Client and the Client will settle the bill within Fifteen (15) working days ‘of bill
submission from the acceptance of final bill with proper supporting documents.
10. Alteration in Agreement:
The Service provider shall have the right to propose changes in the manner of
providing the services in consultation with the Client for the purpose of improving the
efficiency and cost-effective delivery of the Services. Any change in the provisions of
the Contract will have to be agreed to in writing and signed by the parties.

11. Payment modality: Payment should be made by account payee cheque or/and EFT in
favor of ‘Ikigai HR Services Limited’ considering following bank account information:

Bank Account Information:

Bank A/C Name : Ikigai HR Services Limited
Bank A/C Number : 1331070201880
Bank Name : Eastern Bank Limited
Branch Name : Gulshan- 1 Branch.
Routing Number : 095261720
Swift Code : EBLDBDDH011
12. Contract Renewal: Contract time is One (1) year from the date of signing and renewed
upon mutual discussion and agreement.

13. Governing Law: This Agreement shall be construed in accordance with and be
governed by the laws of Bangladesh.

14. Miscellaneous:
• If the Client recruits any of the candidate(s) forwarded by the service provider in
any position/role within One (1) year from the date of receiving the resume(s) of
the candidate(s) from the service provider, the Client will inform the matter to the
service provider and also pay a full professional fee to the service provider.
• The Client will keep the service provider updated if any development takes place
in the recruitment process and whenever the Client communicates with the
candidate either through the mail and/or over the telephone.
• The Client may use the service provider’s premises, free of charges, which is being
considered by the candidates a neutral ground for interview purposes, depending
on availability of it. In such circumstances, the service provider will organize and
coordinate the interviews.
• The Client may advise the service provider to manage the issue of handing over of
‘appointment letter’ to the selected candidate as per its policy with a view to
minimize the probability candidate not joining the Client after accepting a job offer.

15. Termination:
Either party may terminate the contract at any time upon serving at least 30 calendar
days’ advance notice in writing to the other party under the following circumstances:

• If there is a material breach of any of the terms under this contract on the part
of either party; and

• If either party feels that there is a need to terminate the contract due to any
reasons whatsoever.
• Upon termination or expiry, Ikigai shall not be entitled to any compensation,
damages, indemnity, commissions, goodwill payment or any other amount
for any cause arising directly or indirectly. Ikigai shall also indemnify the
Client in respect thereof provided that, the Client shall pay amounts due to
Ikigai if any.
IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly
executed by its authorized representatives.

For & on behalf of Ikigai For & on behalf of Fare Transportation

HR Services Limited Limited

________________________ ________________________
Ambreen Hassan Serker Tahsin Al Muntaquim
Chief Executive Officer CEO, Founder

Witnesses of Ikigai HR services Limited Witness of Fare Transportation Limited

1. 1.

______________________ _____________________________
Ghulam Sumdany Don Name
Managing Director Designation

2.

___________________________
Ishtiaque Ahmed
Talent Acquisition lead