The dividend at every auction shall be equally distributed by way of deduction in the next instalment to the subscribers. The dividend so calculated is less Foreman’s commission at 5% of the chit value
First two instalments are to be paid in full without any dividend.
On the basis of the intimation card, prized and non prized subscribers are expected to remit the monthly instalments on or before the due date referred to. In case of any delay in remitting the monthly subscriptions by prized or non subscribers, beside forfeiture of the dividend. penal interest at an appropriate rate will be charged.
