Group Rules

AFRICAN GEMSTONE BROKERS GROUP RULES – (AGM)

1.0 PROCEDURE AND DONATIONS FOR JOINING THE GROUP

1.1 Entry to Join the Group

a. African Gemestone Brokers Group – (AGB) is a group open to anyone who works legally in Mining in and outside of Tanzania. A group member must be at least 18 years old, able to pay admission, fees and other contributions in accordance with the rules of the group.
b. To join this group, the applicant must fill out a joining form and pay a NON-REFUNDABLE entrance fee when leaving/dismissing from the group
c. Any new AGB group member (who is not a founding group member) who has the qualifications to join the group must pay the arrears of savings/deposits of existing group members after providing all expenses and distribute the balance of existing savings/deposits to the number of existing group members at that time. OR It may be decided otherwise by the general meeting of all group members with a vote of FIFTY PERCENT (50%) of all members present.
d. The new group member will be given two months to complete the amount in order to receive services like any living founding group member. This means that hurrying to finish paying that amount will enable the party to become an active and complete member of the group earlier to get all the services that other group members get before the given time.

1.2 Fees after joining

a. The group member will have the obligation to pay a fee of 100,000 shillings/- (One hundred thousand only) every month which must be paid before the fifteenth (15th) of the following month.
b. If the fee is not paid on time as specified in 1.2(a), then the party will be required to pay a fine of one percent (1%) of that amount which is equal to five hundred shillings (Tshs 500) for each day he delays the fee. And if a group member will continue to delay his fee, the fine of one percent (1%) will continue to be charged until he is terminated from the group for failing to pay the fee for three consecutive months.

1.3 Contributions to help each other in victory and pleasure

a. If a group member dies of a family member, the group will offer a condolence of 2,000,000 shillings/- (two million) as a loan to the group members and each group member will be responsible for contributing to the same amount to cover the money given to the group fund.
b. A family member as referred to in 1.3(a) is identified as:
i. Group member himself,
ii. wife/husband of a group member,
iii. The children of the birthing group member and
iv. Parents ie father/mother

c. If a member of the group dies of a close relative, the group will give a condolence of 500,000 shillings/- (Five Lacs) and each member of the group will be responsible for contributing the same amount to cover the money given in the group’s fund.

d. A close relative as referred to in 1.3(c) is recognized as:
i. Birth brother/sister of group member,
ii. Father/Mother-in-law of a group member,
iii. If a group member dies of any person living with him who is not mentioned in the item.

1.3 (b&d) e. The time to repay the disaster loan for each group member is only one month. If the loan is delayed beyond the set time, the fine will be two percent (2%) of the amount for each day counted from the one month limit.

If the party delays more than that, the treasurer will deduct the debt and its fine from the shares/deposits of the party member concerned.
d. Important: 5-50% of the group members must attend all group member tragedies and participate fully in burial activities or transport procedures for all tragedies that will occur here in Arusha, Dar es Salaam, Tunduru and Mahenge. If the deceased is to be transported, the Group will send a representative to represent the group members at the funeral and the group will provide the return fare. Penalties for non-participants may be determined by the disciplinary/ethics committees.
e. If a member of the group gets married, all the members of the group are in that city, they will be required to participate fully in the entire activity to make the event a success. the group will contribute one million and five hundred thousand shillings 1,500,000/- as a gift and it can be given as cash or bought as a gift, the money will be returned by the group members at the same rate for each.
g. If a group member does not participate in any way, he will pay a fine of twenty thousand shillings (Tshs 20,000).

2.0 ROUND PROCEDURE GROUP SESSIONS

a. AGB members will be meeting at a place agreed upon by all group members at that time.
b. A regular bi-monthly Webinar will be held every first Sunday of the month. The time to start the session is FIFTEEN in the afternoon. For whatsapp.
c. The general meeting of all group members will be held once a year but if necessary it can be decided by fifty percent (50%) of the group members.
d. A special general meeting will only be called if there is something to discuss that is of serious interest to the group or that threatens the life of the group. Example – Waste of money or Disruption of leadership.

2.1 Attend all valid meetings of the group

a. It is the duty of every group member to attend all legal meetings of the group as specified in the constitution of the group without missing or being late to the meetings.
b. If a group member fails to attend the meeting for any reason other than those specified below (2.2), he will be required to pay a fine of 10,000 shillings/- (Ten thousand only)
c. For anyone who arrives late to the session, that is, if he enters after the session opens after fifteen minutes, that is at quarter past ten in the afternoon (10:15), and has not given an excuse to the management, he will be liable to pay a fine of 5,000 shillings/- (Five thousand only). The late session fine must be paid at the relevant session or the next session.
d. If it is not paid as specified in article 2.1(c), the fine will be applied with an interest of ten percent (10%) for each day that passes. That is five hundred shillings (500/-) per day.
e. The fine for not attending the meeting should be paid within one month, ie at the next meeting or before that. Any fine that is delayed beyond that time will be charged an interest of five percent (5%) of the amount for each day that it is delayed. That is five hundred shillings (500/-) per day.

2.2 Emergencies that will be allowed for a group member not to attend valid group meetings

a. Bereavement or death of the group member himself, his wife/husband, children and parents of both parties due to illness or being sick
b. Being on the go for personal or special activities such as studying, business/business travel and being offline. etc.
c. Note: Information and the reason for not attending the session must be given six hours before the session starts. That is, the deadline for receiving excuses is five o’clock in the morning on the day of the session.

Otherwise, a fine will be charged to the group member.

3.0 LOAN PROCEDURE FOR GROUP MEMBERS

a. Every legitimate group member must contribute all the contributions he has the right and qualification to get a loan from the group’s fund to deal with life’s emergencies.
b. The loan amount will always depend on the capacity of the group fund at the relevant time and the group member’s deposits/shares in the fund. The credit committee will check the shares/deposits of the borrower at that time
c. The borrowing group member must have two guarantors who are active group members in accordance with the group’s constitution and rules.
d. The borrower must have returned the entire loan within six months from the date the loan was granted. Loan repayments should be made every month (in installments) at a regular meeting as stated in the regulations.

e. Every loan will be charged interest of and starting from every one lakh shillings (Tshs 100,000) the borrower will return the loan with an increase of ten percent (10%) of that amount, for example if he takes one lakh (Tshs 100,000) he will return 110,000 and for 200,000 Tshs/ it will be 220,000 within two months and the money borrowed for this period will be returned within two months only and not more than that until the group has enough money then the members will sit and decide differently.
f. Important note: Due to the small size of the AGB group’s fund at the moment, this loan procedure is only for group members with urgent problems. conditions mentioned.

4.0 Financial support for sick group members

a. If a group member or family member as stipulated in 1.3(b) is bitten and admitted to the hospital from seven consecutive days onwards, the group will be responsible for providing Aid of 200,000 shillings/- (two lakhs only) will be given to the patient who is a group member himself/herself, the wife/husband and their children .
b. Information about the illness will be given to the leadership who will inform all the group members so that individual measures to inform him of the situation can be done.
c. Aid funds will be released from the group’s fund and the treasurer will be responsible for ensuring that the funds reach the target immediately after confirming the patient’s admission. The amount will be given only once and if the problem continues for a long time there will be an emergency session to decide whether to help him again or not. The money will be returned to the group members by donating the same amount