Terms & Conditions – Loans
IMPORTANT: Our company incorporated under the laws of India and having its registered office at Bengaluru, Karnataka (“Company”). Company makes the Website available for use on mobile phones to you as end-users of the Website, subject to these Terms of Service (“Terms”).
The Company operates a website for marketing and information purposes only. It is clarified that the Company does not use the Website for any purpose other than the said purposes.
If you do not agree to these Terms you must not proceed to download the App.
Without prejudice to any other specific requirement which may be laid out in these Terms, your use of the App and specifically, your acceptance of these Terms as aforesaid shall be deemed to be a representation from you that you are above 18 years of age, or possess legal parental or guardian consent, and are fully able and competent to enter into the terms, conditions, obligations, affirmations, representations, and warranties set forth in these Terms, and to abide by and comply with these Terms.
THE COMPANY IS NOT A LENDER (AS DEFINED BELOW) AND DOES NOT PROVIDE ANY LOANS OR OTHER CREDIT FACILITIES (AS DEFINED BELOW). THE COMPANY IS MERELY OPERATING THE APP TO FACILITATE YOUR APPLICATION TO AVAIL THE CREDIT FACILITIES.
Headings of clauses are only for convenience and are not intended to be used to interpret the contents thereunder. Please read these Terms in full.
1. Description of the App
1.1. The App enables you to obtain loans and other credit facilities (“Credit Facilities”) from Banks, Non – Banking Financial Companies (NBFCs) and other approved lending institutions (“Lenders”). The App auto-tracks, organizes and analyses your Transaction Information (as defined in these Terms) to present to you various credit products. The Company and/or the App may share the Transaction Information with Affiliates and Lenders to which you hereby consent.
1.2. “Transaction Information” means information that is contained in text messages (that is, SMS) sent by providers of services and/or products (including but not limited to financial institutions, mobile carriers and utility companies) to your mobile telephone number(s) in connection with one or more transactions across multiple financial accounts (including purchase, payments, billing information and service notifications related thereto). Without limitation, Transaction Information includes:
1.2.1. Your mobile phone number
1.2.2. Your email address
1.2.3. Partial payment card data only to the extent such card data is disclosed in the said messages
1.2.4. Information related to the transaction in question including identity of the service or product and the price or fee paid or payable in respect thereof.
1.3. For the avoidance of doubt, the App has no direct access to your bank, credit card or debit card account information, or any Transaction Information other than that which is contained in SMS messages you receive on your phone. Further, the App does not require any bank login ID or password from you.
1.4. “Affiliates” mean any bodies incorporated which are controlled by, control, or under common control with, the Company, whether by virtue of owning, including as a benecifiary, the majority of voting capital or the by having the right to appoint a majority on the board of directors or other management organ, or both.
2. Applicability of the Terms
2.1. By downloading, installing, using, and accessing the App’s features in any manner you hereby give your unconditional consent to;
2.1.1. These Terms including the paragraphs at the commencement of these Terms and titled “IMPORTANT”.
2.1.3. Any other notice, disclaimer, policy, or term of use, by whatever name called, which may apply to the use of the App from time to time.
2.3. These Terms may be amended at any time by the Company. All such amendments shall be binding on you 24 (twenty four) hours after the amended Terms are made available on the Website. If you do not agree with any such modification, your sole and exclusive remedy is to terminate your use of the App with no liability to the Company.
2.4. Although the Company may attempt to notify you when major changes are made to these Terms, it shall be solely your responsibility to read and understand the most up-to-date version of the Terms on the Website. Nothing in these Terms shall be deemed to confer any third-party rights or benefits.
3. Use of the App
3.1. You shall not use the App otherwise than as an end user.
3.2. In your use of the App, you shall always comply with all applicable laws.
3.3. You agree not to circumvent, disable or otherwise interfere with security-related features of the App or features that prevent or restrict use or copying of any content or enforce limitations on use of the App or the content therein.
3.4. Except for the services explicitly provided, the Company does not provide, control or endorse any third party information, products or services in any manner whatsoever, even if such third party information, products or services are advertised on the App or the Website.
3.5. You hereby represent and warrant that you shall make use of the App as a prudent, reasonable and law-abiding citizen.
3.6. The Company shall not be responsible for any delay or failure resulting from infrastructure issues, like server uptime, network availability and connectivity.
3.7. You shall not take any action that would cause Company to suffer any type of loss.
4. Consideration and Payment Terms
4.1. Even if the App is provided on a ‘no charge’ basis for a period of time, the Company shall have the right to charge such subscription fees as it determines in its sole discretion from time to time.
4.2. All payments shall be made by credit card, debit card, or such other method as the Company may specify from time to time.
5. Termination and Suspension
5.1. Notwithstanding anything to the contrary in these Terms, any other terms, or any other communication between you and the Company, the Company may terminate your use of the App at any time with or without notice, and for or without any reasons, with absolutely no liability to you.
5.2. Without prejudice to the foregoing ;
5.2.1. The Company reserves the right to terminate these Terms without notice and without liability to you on becoming aware that you have violated these Terms or any other guidelines and rules published in respect of the App.
5.2.2. Company may block, restrict, disable, suspend or terminate your access to all or part of the App at any time in Company’s discretion, without prior notice or liability to you.
6. No Lending
6.1. THE COMPANY HAS DEVELOPED, OWNS, OPERATES AND MAINTAINS A TECHNOLOGY PLATFORM. THE COMPANY IS NOT A LENDER. THE COMPANY HAS CONTRACTUAL RELATIONSHIPS WITH LENDERS PURSUANT TO WHICH SUCH LENDERS OFFER CREDIT FACILITIES TO THE USERS OF THE APP. ANY CREDIT FACILITY MADE AVAILABLE TO YOU BY ANY LENDER SHALL BE GOVERNED BY TERMS AND CONDITIONS AGREED BETWEEN YOU AND THE LENDER AND THE COMPANY SHALL NOT BE A PARTY TO THE SAME.
6.2. The Company and its directors, officers, employees and agents shall not be responsible in any manner whatsoever for:
6.2.1 The rejection of your Credit Facility application or other refusal by the Lenders of the Credit Facility with or without reason;
6.2.2 The Company is not obliged to inform reasons for such refusal/rejection;
6.2.3 The Company is not a lender and does not provide any loans or other Credit Facilities; and
6.2.4 If the Credit Facility is made available to you by the Lenders, the terms and conditions governing the same shall be solely between you and the Lender and the Company shall not be a party to the same.
7. Other Disclaimers
7.1.To the fullest extent permissible pursuant to applicable law, the Company, and any of Company’s third-party partners, licensors, and suppliers, disclaim all warranties, statutory, express or implied, including, but not limited to, implied warranties of merchantability, fitness for a particular purpose, and non-infringement of proprietary rights. No advice or information, whether oral or written, obtained by you through the App will constitute or create any representation or warranty not expressly stated herein.
7.2. You expressly agree that use of the App is at your sole risk. The App and any data, information, third party software, reference sites, services, or software made available in conjunction with or through the App are provided on an “as is” and “as available,” “with all faults” basis and without warranties or representations of any kind either express or implied. The Company and any third party suppliers, licensors, and partners do not warrant that the data, software, functions, or any other information offered on or through the App will be uninterrupted or free of errors, viruses or other harmful components and do not warrant that any of the foregoing will be corrected.
7.3. Company and any third party suppliers, licensors, and partners do not warrant or make any representations regarding the use or the results of the use of the App in terms of correctness, accuracy, reliability, or otherwise.
7.4. You understand and agree that if you use, access, download, or otherwise obtain information, materials, or data through the App, the same shall be at your own discretion and risk and that you will be solely responsible for any damage to your property (including your computer system and/or other device) or loss of data that results from the download or use of such material or data.
7.5. You acknowledge and agree you have entered into these terms in reliance upon the No Lending, Other Disclaimers and the Limitations of Liability set forth herein, that the No Lending, Other Disclaimers and the Limitations of Liability set forth herein reflect a reasonable and fair allocation of risk between you and Company, and that the No Lending, Other Disclaimers and the Limitations of Liability set forth herein form an essential basis of the bargain between you and Company. Company would not be able to provide the App to you on an economically reasonable basis without these limitations.
7.6. Any information that the App may make communicate to you about any service or product offered by a third party, including any promotional or other offers in relation thereto, shall not constitute or be deemed to be the Company’s endorsement or approval in any manner of such third party products and services.
8. Intellectual Property
8.1. The Company and its licensors, if any, shall be the sole and absolute owners of the App, including but not limited to the idea behind the App, the copyright in all content on the App and Website and all trademarks, designs, logos and other insignia of trade used on the App and Website and elsewhere during the performance of the services, all of which are subject to protection under patent, copyright, trade mark and trade secret and other intellectual property laws of India and other countries. Any copying of any part of the App shall entail immediate termination of these Terms without prejudice to the other rights and remedies of the Company, including for civil wrongs and criminal offences.
10. Limitation of Liability
10.1. IN NO EVENT SHALL THE COMPANY, ITS OFFICERS, DIRECTORS AND EMPLOYEES, OR ITS CONTRACTORS, AGENTS, LICENSORS, PARTNERS, OR SUPPLIERS BE LIABLE TO YOU FOR ANY DIRECT, SPECIAL, INDIRECT, INCIDENTAL, CONSEQUENTIAL, PUNITIVE, RELIANCE, OR EXEMPLARY DAMAGES (INCLUDING WITHOUT LIMITATION LOST BUSINESS OPPORTUNITIES, LOST REVENUES, OR LOSS OF ANTICIPATED PROFITS OR ANY OTHER PECUNIARY OR NON-PECUNIARY LOSS OR DAMAGE OF ANY NATURE WHATSOEVER, INCLUDING BUT NOT LIMITED TO ABUSE OR BREACH OF DATA), EVEN IF THE COMPANY OR AN AUTHORIZED REPRESENTATIVE HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES, ARISING OUT OF OR RELATING TO (I) THESE TERMS, (II) THE APP, (III) YOUR USE OR INABILITY TO USE THE APP; OR (IV) ANY OTHER INTERACTIONS WITH ANOTHER USER IN CONNECTION WITH THE APP. IF THE FOREGOING LIMITATION IS NOT ENFORCEABLE, THE MAXIMUM LIABILITY OF THE COMPANY SHALL BE Rs.500.
11.1. You hereby agree to defend, indemnify and hold harmless the Company, its Affiliates, officers, directors, employees and agents, from and against any and all claims, damages, obligations, losses, liabilities, costs or debt, and expenses (including but not limited to attorney’s fees) arising from: (i) your use of the App; (ii) your violation of any term of these Terms; (iii) your violation of any third party right, including without limitation any copyright, property, or privacy right; and (iv) your breach of the terms of your contract with lenders. This indemnification obligation shall survive these Terms and use of the App.
12. Governing Law and Arbitration
12.1. These Terms are governed by and shall be construed in accordance with the laws of the Republic of India without respect to its conflict of laws’ provisions.
12.2. The App is controlled and offered by the Company from its facilities in India. If you are a user outside India, please take note the Company is subject only to Indian law and only to the jurisdiction of Indian courts. The Company makes no representations that the App is appropriate or available for use in other locations. Therefore, if you are a user outside India, you may use the App solely on your own volition and at your own risk. You shall be solely responsible for compliance with local law.
12.3. Disputes, if any, shall be attempted to be resolved amicably for thirty (30) days. Unresolved disputes shall be referred to an independent, sole arbitrator in Bangalore appointed by the Company in accordance with the procedure established by the Arbitration and Conciliation Act, 1996. Subject to the foregoing, you hereby consent to the exclusive jurisdiction of the Courts in Bangalore Urban District.
13.1. Notices: Any notice required to be given to Company under these Terms shall be sent by registered mail or recognized courier to the address first set out above.
13.2. Force Majeure: If the whole or any part of the performance of the respective obligations of the parties hereunder is prevented or delayed by reasons of natural calamities, war, arson, civil disturbance, and such other reasons beyond the reasonable control of a person (each a “Force Majeure Event”), then to the extent either party shall be prevented or delayed from performing all or any part of their respective obligations under these Terms despite due diligence and reasonable efforts to do so, then such party shall be excused from performance hereunder for so long as reasons of Force Majeure Event continue. A Force Majeure Event shall not affect the payment obligations of the parties unless there is legal bar / embargo to the making of the payments.
13.3. Severability: Notwithstanding that the whole or any part of any provision of these Terms may prove to be illegal or unenforceable, the other provisions of these Terms and the remainder of the provision in question shall continue in full force and effect.
13.4. No Waiver or Election: No failure or delay in exercising any right, power or privilege hereunder shall operate as a waiver thereof nor shall any single or partial exercise of any right, power or privilege preclude any other or further exercise thereof or the exercise of any other right, power or privilege. Every right or remedy herein conferred upon or reserved to either party shall be cumulative and shall be in addition to every right and remedy existing at law or equity or by statute and the pursuit of any one right or remedy shall not be construed as an election.
13.5. Assignment: The right to use the App is personal to you and is not transferable by assignment, sublicense, or any other method to any other person or entity.
13.6. Communications: You hereby consent to receive on your registered email/phone promotional and marketing communication about various products, services and offerings the Company, vendors, clients, group companies or business associates may make available. This will over ride any DND or DNC services you may have registered for on your phone in the past.