Each member agrees to be bound by these rules and regulations. All members undertake that they will use their reasonable endeavours to comply with the IDA rules and regulations as updated from time to time.
An individual’s membership may be either suspended or cancelled for breach of any of the rules and regulations or the Code of Conduct and this shall be at the IDA membership committee’s sole discretion
In these rules:
IDA means Independent Directors Association of Vietnam.
Membership programme means the programme for members by the IDA.
Membership Committee means the directors appointed by the board to oversee the general running of the membership scheme, including but not limited to, acceptance of membership applications, membership fee rates, cancellation of membership and updating the membership rules and regulations from time to time.
Membership Fees mean the annual fees payable per category of membership.
Member means any individual who is a member of the IDA and who has been admitted in any of the following categories, Fellow, Professional and Associate, and who is eligible for appointment as a director under the laws of India and also includes corporate who have been admitted as charter member.
Rules and Regulations means these rules, as updated from time to time.
In the event of any conflict or inconsistency within this document, the membership committee will decide on its interpretation and such interpretation shall be final and binding.
3. Membership and Application Procedure
Each prospective member must apply for membership to the IDA via the application procedure. Any prospective member must complete the application form and send it to the IDA with a copy of their CV either by post, fax or online via our website.
Eligibility for membership shall be decided by the membership committee in accordance with the membership criteria laid down and such will be final and binding. If the application is approved, the membership committee will allocate the members category according to their experience and the agreed criteria.
All applications will be considered by the membership committee (usually on a weekly basis) and unless there are any objections to the applications then membership will be granted. Wherever required by the board, applicants shall furnish such further documentary proof and supporting documents. Where so requested by the board, applicant shall attend interviews with regard to their application.
Applicants will be informed in writing of the outcome of their membership application.
The rights of the members are not transferable.
The board reserves the right to amend and/or supplement the present terms and conditions.
The membership committee is under no obligation to provide a reason for refusal of any application.
Membership of the IDA is conditional upon the member accepting and abiding by these rules and regulations and the Code of Conduct.
4. Member’s Categories
A corporate, LLP, association, institute can be admitted as Corporate Member of AID-INDIA.
IDA provides for different types of membership for Individuals. The grades of membership and the qualifying criteria of each as follows:
A person may be inducted as Fellow Member of IDA if he fulfills either of the following criteria:
- Presently serving as a Director for the last three years of any company, which is operational.
- Served as a Director of any company for at least three years.
A person may be inducted as Professional Member of IDA if he fulfills either of the following criteria:
- MBA /Engineers/Legal professionals with a professional experience of at least ten years.
- Member of a professional practice relating to business, management, finance, trade, economics or other related field with a professional experience of at least five years.
- Senior executives with managerial responsibilities in the public or private sector with a professional experience of at least five years.
- Academic personnel at the level of lecturer or equivalent in any college/university/institute with an experience of at least five years.
- Director or equivalent position at a non-profit organization for at least five years.
A person who doesn’t meet the criteria for Fellow as well as Professional Member only in terms of no. of years of experience i.e. 3/5 years may be admitted as Associate Member of IDA.
Upon invitation of the Board of IDA.
5. Changes in Members Details
It is the responsibility of members to inform the IDA of any changes in their contact and personal details which may affect their membership.
6. Change of Membership Category
Any member wishing to change his/her category may do so by applying in writing to the membership committee with an up to date CV. The membership committee will consider all such requests and reply to the member within 30 days advising them of their decision. Once a member’s new category has been confirmed, any additional membership fees will be due pro-rata for the year.
7. Grievance Procedure or Appeal
A member may make representations regarding his/her suspension or cancellation of membership, or any other grievance, by writing to the membership committee. The committee will consider the member’s grievance or appeal within 30 days and submit its recommendations to the Board whose decision will be final. The member will be notified in writing of its decision.
The member will not act in any manner which damages or is likely to damage or otherwise adversely affect the reputation of the IDA.
All members must pay their application fees, membership fees and any other bills within 30 days of billing. If bills remain unpaid, the membership committee reserves the right to automatically terminate membership.
10. Membership Fees
There is a one time joining fee and thereafter subscription is payable annually per financial year. If you become a member between 1st October – 31st December, your annual subscription is halved and between 1st January – 31st March, you annual subscription is pro rata. You also have an option to become a ‘Life Member’ by paying one time membership subscription.
A person may be inducted as ‘Fellow Member’ of the IDA if she/he fulfills either of the following criteria:
- Presently serving as a director of any company, which is operational.
- Served as a director of any company.
11. Data Protection
The IDA will hold all information on its members in the strictest confidence and will not divulge nor share it without the member’s prior written agreement.
12. Members Register
The name of all members will be published on the IDA’s website.
13.1 Voluntary Termination
A member may terminate his/her membership at any time by giving not less than 2 months written notice before the end of any calendar year. If due notice has not been given, the following years membership fees become automatically payable. All other outstanding bills at the time of termination will become immediately due.
13.2 Termination for Failure to Pay Membership Fees
The IDA shall have the right to suspend the membership rights of a member who shall fail to comply with two reminders to pay arrears of membership fees. Any failure by a member to pay such arrears within 30 days of the last reminder may entail automatic cancellation of membership.
13.3 Termination for Breach
The Board of the IDA shall be entitled to terminate the membership of a member in case of breach of any of the IDArules which shall not have been remedied within 30 days of a written warning requesting immediate remedy of such breach.
14. Code of Conduct
All members agree to abide by the IDA Code of Conduct.