Rights and Duties of Foreman
    

i) To obtain one chit in full without auction and the instalment specified in the agreement.
ii) To get such commission every month not exceeding 5% of the chit amount as may be fixed in the chit agreement.
iii) To receive and realise all contributions from the subscribers and to distribute the prized amount and dividend amongst the subscribers.
iv) To demand sufficient security from the prized subscribers for due payment of future subscription(s).
v) To substitute subscribers in the place of defaulters, and
vi) To do all other acts that may be necessary for the due and proper conduct of the chit.

i) To provide a true copy of Bye-Laws and chit agreement to all the subscribers before the conduct of 1st draw of the chit.
ii) To intimate all the subscribers about the date, time and amount of subscription of chit every month.
iii) To pay chit amount to the prized subscribers after getting sufficient security for further installments.
iv) To allow the subscribers to examine chit record on getting payment of prescribed fee.
v) To file minutes of proceedings, from the transfer of subscribers in CF-VI, Balance Sheets etc. with the Registrar, Chit Funds Delhi within the stipulated time limit.
vi) To furnish proper securities to the satisfaction of the Registrar, Chit Funds, Delhi in the event of foreman himself becoming a prized subscriber.
vii) A foreman intending to transfer his right to receive subscription from prized subscriber shall apply in writing to the Registrar, Chit Funds, Delhi for obtaining his sanction thereof.
viii) To maintain the following records in respect of each chit group:

ix) To produce such records for inspection as and when required by the R.C.F., Delhi.
x) To preserve all the records pertaining to a chit for a period of atleast six years from the date of termination of the chit.

Important points to note: