TERMS OF SERVICE

TERMS & CONDITIONS

The following Terms & Conditions (“Agreement”) are in furtherance of the arrangement by and between Trickle Flood Technologies Pvt Ltd, a Company registered under the Companies Act, 2013 vide CIN U65999MH2018PTC315035, having its registered office at 601 Links Building, Road No. 14, Corner of Khar and Pali, Khar West, Mumbai 400052, India and operating the Platform (IndiaP2P.com) (hereinafter referred to as“IndiaP2P”,“we”, “us”, “our”, “Company”)

AND

The term “You” collectively refers to Users, their representatives and their entities as the context requires as per the respective terms under this agreement. The term “User(s)” refers to any party whether a person, company or firm who visits and/or registers itself as Lender on our Platform. Both Parties shall hereinafter jointly referred to as the "Parties"

INTERPRETATION

[The terms referred to in this Agreement, unless defined otherwise or unless inconsistent with the context or meaning thereof, shall bear the same meaning as defined under the relevant statute/legislation.]

[References to Recitals, Articles, Clauses, Annexure or Schedules unless the context otherwise requires, shall mean references to recitals, articles, clauses, Annexure or schedules contained in this Agreement]

[All references in this Agreement to statutory provisions shall be construed as meaning and including references to any statutory modification, consolidation or re-enactment (whether before or after the date of this Agreement) for the time being in force]

[All headings / subheadings / titles / subtitles to articles, clauses, sub-clauses and paragraphs are for information only and shall not form part of the operative provisions of this Agreement or the Annexure and shall be IGNORED IN CONSTRUING THE SAME]

[Unless the context otherwise requires, words denoting the singular shall include the plural and vice versa. Where the context so requires the masculine shall include the feminine]

RECITALS

WHEREAS

Company is a registered Peer to Peer Non-Banking Financial Company(“Business”) and company bearing CIN: U65999MH2018PTC315035 and holding NBFC P2P Certificate No. N-13.02409 from RBI.

• Company operates the website available at IndiaP2P.com and its related sub-domains, sites, services and tools (and Mobile Application namedIndiaP2P, hereinafter collectively referred to as the “Platform”;
• IndiaP2P merely facilitates a transaction of borrowing and lending between such parties by providing an online platform. IndiaP2P nether lends nor borrows through the Platform and adheres to all applicable laws including all rules, regulations and guidelines of the Reserve Bank Of India ( “Applicable Laws”).
• The Borrower who intends to avail a loan through the Platform shall create an account with IndiaP2P by providing basic information such as name, contact details, password, PAN, Aadhaar Number, date of birth, net monthly income and such other information as sought for.

Please note that the terms and conditions of this Agreement are binding upon the Parties and you are requested to read them carefully. Please note that we offer the services “as is” and without warranties. If you signup with us on behalf of an entity other than yourself, you represent and warrant that you are authorized by such individual or entity to accept this Agreement on such entity’s behalf

IF YOU DO NOT ACCEPT THESE TERMS, YOU MAY NOT ACCESS OR USE THE PLATFORM

1. PLEASE NOTE

• 1.1. If you access the Platform or use our services, the Terms and Conditions shall be a legally binding agreement between you and Company.
• 1.2. We reserve the right, at our sole discretion, to modify or replace any part of this Agreement. It is your responsibility to check this Agreement periodically for changes. Your continued use of or access to the Platform and/or services following the posting of any changes to this Agreement constitutes acceptance of those changes. We may also, in the future, offer new services and/or features and such new features and/or services shall be subject to the terms and conditions of this Agreement;
• 1.3. We, in our sole discretion, reserve the right to refuse registration of, or cancel or restrict the usage of the Platform for any user of the Platform;
• 1.4. Furthermore, we hold the complete right to deactivate any User’s account on its own accord if the User is suspected or found to be engaging or trying to engage in any malicious activity;
• 1.5. IndiaP2P shall have the right, but not the obligation, to monitor the content of the Platform at all times, to determine compliance with Applicable Laws. Without limiting the foregoing, IndiaP2P shall have the right to
• 1.5.1. remove, suspend, edit or modify any content in its sole discretion without notice to the User;
• 1.5.2. to remove, suspend or block any User submissions from the Platform; and
• 1.5.3. access, read, preserve, and disclose any information as required under Applicable Law.

2. DEFINITIONS

• 2.1. “Agreement” means these Terms of Service along with its Annexures, Exhibits, inter-alia.
• 2.2. “Affiliate” of the User shall mean an entity directly or indirectly controlling, controlled by or under common control with the User where control means the ownership or control, directly or indirectly, of more than fifty percent (50%) of all of the voting power of the shares (or other securities or rights) entitled to vote for the election of directors or other governing authority; provided that such entity shall be considered an Affiliate only for the time during which such control exists.
• 2.3 “Borrower” for the purpose of this Agreement shall mean an entity/person approved and listed as Borrower on the Platform.
• 2.4. “Confidential Information” means any information, which shall include but is not limited to, all material and information supplied by any party which has or will come into other party's possession or knowledge of such other party in connection with its performance hereunder, including, without limitation, computer programs, technical drawings, algorithms, know-how, processes, designs, reports, specifications, ideas, trade secrets, inventions, schematics, pricing information, and other technical, business, financial, customer and product development plans, strategies or any other information disclosed by or related to the to be confidential or proprietary based on the circumstances of disclosure or the nature of the information itself.
• 2.5. “Intellectual Property Rights” means any and all current and/or future intellectual property rights, including (i) all forms of copyright and authors rights (including any and all rights that may be considered financial rights), database rights and rights in patents, designs, inventions, utility models, trade names, trademarks, service marks, rights in trade dress or get-up, goodwill, domain names, website addresses (URL), know-how, trade secret, rights to sue for passing off, unfair competition rights, moral rights and Confidential Information (whether registered or unregistered); (ii) applications for registration, renewals or extensions, and the right to apply for registration, renewal or extensions, for any of these rights; and (iii) all other intellectual property rights and equivalent or similar forms of protection (whether registered or unregistered), existing anywhere in the world from time to time
• 2.6. “Lender” may be any person including an individual, a body of individuals, a HUF, a firm, a society or any artificial body, whether incorporated or not.

3. SIGNING UP ON PLATFORM AND USER ACCOUNT

• 3.1. User Account: In order to use the facility made available by the Platform, you are required to register and create a User Account with password (“User Account”). At the time of registration, you shall be required to share information which may include personal information (“Personal Information”) including but not limited to information regarding your PAN, Address Proof, Bank Account, valid identity proof, e-mail ID, name, and other relevant details.
• 3.2. You agree and confirm that you may be required to provide us with your Aadhaar Card details as issued by the Government of India along with copy of documents as required by us, as per applicable KYC norms as per the RBI guidelines in this regard and providing documents such as latest passport sized photograph, for completion of registration. You further agree, confirm and consent to use your Aadhaar details for the purpose of authentication with UIDAI.
• 3.3. if the User is an individual then the individual must be an Indian resident as per Foreign Exchange Management Act, 1999 and above age of 18 (Eighteen) years.
• 3.4. You agree that any registration information provided by you including Aadhaar Card details shall always be accurate, correct and complete. This is important, because we may send notices, statements and other information to you by email or through your account. . If User provides any information that is incomplete, inaccurate, not current or untrue (or becomes untrue, inaccurate, not current or incomplete), or IndiaP2P has reasonable grounds to suspect that such information is untrue, inaccurate, not current or incomplete, IndiaP2P has the right to suspend or terminate the User account and refuse any and all current or future use of the Platform (or any portion thereof). AsIndiaP2P provides a Platform which makes it possible for lenders to find borrowers and borrowers to find lenders, considers input of incorrect or wrong information on this Platform an act of willingly constituting fraud, cheating, and misrepresentation.
• 3.5. You will keep all of yours Authorized Users’ passwords and usernames confidential and will not share them with third parties. You are responsible for all actions taken through your accounts.
• 3.6 You shall be solely liable for the accuracy of the content you provide us or post on the Platform and we do not have any liability with regard to the satisfaction and liability of the result thereby.
• 3.7. We carry out a KYC process for verification of the borrowers and lenders. For Borrowers, as part of the credit assessment process, Credit Bureau checks, mobile based data fetch and check, accessing other data sources such as mobile repayment history, employment verification, bank account & statements verification etc. may be accessed from time to time. Borrowers hereby give explicit permission to the Platform to access their information across these and any other relevant data sources.
• 3.8. You hereby represent and warrant that you are eligible to enter into a legal contract and that this shall be a legally binding contract under the Indian Contract Act, 1872. In case of use of the Platform by a person below the age of 18 by misrepresentation or otherwise, the Platform shall not be responsible for the person’s acts in any manner whatsoever. Persons who are "incompetent to contract" within the meaning of the Indian Contract Act, 1872 including minors, undischarged insolvents and persons of unsound mind are not eligible to use the Platform. Any person, if an individual under the age of 18 shall not register as a User on the Platform and shall not transact on or use the Platform. We reserve the right to terminate a User’s membership and/or refuse to provide User with access to the Platform if it is brought to its notice or if it is discovered that such User is not eligible to use the Platform.

4. LISTING ON THE PLATFORM

• 4.1. Once the Sign-Up of the Lender is approved, the Lender shall be able to access and use the Platform for the purpose of reviewing various listings on the Platform and shall be able to make offers and/or receive requests for funding from the approved Borrowers on the Platform through the Platform only.
• 4.1. If the Lender makes an offer, the offer shall stay valid for a period of 15 days from the date the offer was made and furthermore, if the Lender is desirous of amending the offer, it may do so if the odder is not yet accepted, by writing an email to IndiaP2P.

5. LENDING AND BORROWING

• 5.1. No Loans shall be disbursed unless the Borrower and the Lender shall execute or have consented for the Platform to execute all such documents as may be required. The Loan shall be disbursed by the Lender as agreed under the Loan agreement executed between IndiaP2P, the Lender and the Borrower (“Loan Agreement”) into the Platform’s Account. The Loan shall be disbursed from the Platform’s Account into the Borrower’s bank account as per the terms of the Loan Agreement;
• 5.2. Fund transfer between the participants on the Peer to Peer Lending Platform shall be through escrow account mechanisms which will be operated by a bank promoted trustee. At least two escrow accounts, one for funds received from lenders and pending disbursal, and the other for collections from borrowers, shall be maintained. All fund transfers shall be through and from bank accounts and cash transaction is strictly prohibited.

6. LISTING ON THE PLATFORM

• 6.1. In view of the facilitation of the loan to the borrowers through the Platform, the User shall be liable to pay certain charges toIndiaP2P, in the form of transaction fees / commission, at rates displayed on the Platform for different products and modes.
• 6.2. For the loans facilitated (disbursements and repayments) during a particular month by IndiaP2P, IndiaP2P shall deduct its fee from the disbursement and/or interest payout prior to remitting the same to Borrowers and Lenders respectively.
• 6.3. Non maintenance of adequate balance in the User’s Account by the concerned party shall amount to material breach of this Agreement, which may entitle IndiaP2P to immediately terminate this Agreement. In the alternative, IndiaP2P may organise the payment in the form of loan to the borrower(s) from the funds provided by the Lender, after deduction of the relevant amount of the transaction fees / commission in respect thereof. The Parties agree that the rates of commission / transaction fees agreed between the Parties and which are payable by the Borrower to IndiaP2P, shall be excluding the applicable taxes, and the payment of GST in specific shall be the responsibility of the concerned party, as per law.

7. LISTING ON THE PLATFORM

• 7.1. To provide the loan and fund the committed amount to the approved Borrower once the Listing is frozen without any failure.
• 7.2. To provide a certificate to IndiaP2P certifying that its aggregate exposure to all borrowers at any point of time, across all NBFC P2Ps does not exceed Rs. 10,00,000/- (Rupees Ten lacs) or such other amount as may be prescribed from time to time under the RBI Directions or such other law, rules, regulations or guidelines that may be issued in this regard, from time to time.
• 7.3. To provide a certificate to IndiaP2P certifying that its exposure towards the same Borrower at any point of time, across all NBFC-P2Ps does not exceed Rs. 25,000/- (Rupees Twenty Five Thousand) or such other amount as may be prescribed from time to time under the RBI Directions or such other law, rules, regulations or guidelines that may be issued in this regard, from time to time.

8. REPRESENTATION AND WARRANTIES

• 8.1. You represent that you are not in any way restricted from entering into this Agreement, including by prior or existing agreement with any other person or entity, and you have no obligations impairing or restricting you from entering into this Agreement with the Company.
• 8.2. You represent and warrant that will not at any time make any statement that is professionally or personally disparaging about, or adverse to, the interests of and / or engage in any conduct that is intended to or has the result of inflicting harm upon the Company and/ or its Affiliates and/ or any one forming a part of the Company.
• 8.3. It acknowledges that it is aware of all its rights, duties and applicability of various laws including not limited to Money Lending Act, Income Tax Act, or any other statute, or law, which may govern the lending and borrowing of monies within your State of residence or from where you ordinarily conduct your business.
• 8.4. The Lender will honour its commitments and not renege on its loan offers after listing it on the Platform;
• 8.5. The Lender will not pester borrowers during the course of or after the completion of the deal. This would include not communicating directly for loan recovery, not pestering about additional details in attempt to personally verify borrower’s credentials.
• 8.6. The Lender hereby agrees that if he fails to abide by its commitment towards disbursement of loan, its name shall be delisted from the Platform and the Lender shall not be allowed to carry out any transaction through the Platform in the future
• 8.7. In case of default in repayment of loan by any borrower(s), it will deal with recoveries through approved legal advisors. IndiaP2P has a fair mechanism adhering to legal procedures as per the law of the land. However, IndiaP2P is just the facilitator and not an intermediary or holder of the funds, and hence is not responsible for the amounts transacted in the course of a deal.
• 8.8. Each Party is itself solely responsible for all and any decision that it has taken to lend through IndiaP2P and IndiaP2P does not take any responsibility for that;
• 8.9. Lender acknowledges that IndiaP2P in no manner warrants and guarantees that the borrower of loan has provided all the required information which is true and correct including its address, phone numbers inter-alia. IndiaP2P is in no manner liable if the information provided by the borrower is untrue or incorrect. It will adhere to all laws relating to income tax and pay its taxes on income so generated.
• 8.10. Lender will not attempt to contact Borrower(s) directly without prior, explicit permission of the Platform or intimidate or harass Borrowers in any way.
• 8.11. Lender holds a bank account in his own name and will use the same for the purpose of investing on IndiaP2P.
• 8.12. Lender’s represents and warrants that its exposure to all borrowers at any point of time, across all NBFC-P2Ps does not exceed Rs. 10,00,000/- (Rupees Ten lacs) or such other amount as may be prescribed from time to time under the RBI Directions or such other law, rules, regulations or guidelines that may be issued in this regard, from time to time.
• 8.13. Lender’s represents and warrants that its exposure towards the same Borrower at any point of time, across all NBFC-P2Ps does not exceed Rs.25,000/- (Rupees Twenty Five Thousand) or such other amount as may be prescribed from time to time under the RBI Directions or such other law, rules, regulations or guidelines that may be issued in this regard, from time to time.
• 8.14. The Lender hereby represents and warrants to have gone through all the applicable policies of the Platform and has hereby carefully considered the risks involved in lending money through the Platform and that the Lender’s participation in any funding/Loan is entirely at the Lender’s own risk.
• 8.15. The Lender hereby represents and warrants that he risks losing any funds which have been loaned, in circumstances where a borrower in whose Listing he has participated, defaults on its repayments, and IndiaP2P shall have no liability to the Lender for any such loss
• 8.16. The Lender acknowledges that by engaging in peer-to-peer lending, he at no time shall be investing money in IndiaP2P
• 8.17. The Lender acknowledges that by virtue of its selections and actions on the Platform it would have deemed to signed the Loan Agreement with matching borrowers automatically.

9. RESTRICTIONS AND COVENANTS You agree, undertake and covenant:

• 9.1. To comply with the terms and conditions of this Agreement.
• 9.2. To maintain the correctness, accuracy of the information provided to the Platform and the information uploaded on the Platform.
• 9.3. To remove content that Company at sole discretion, determine as unlawful, offensive, threatening, libelous, defamatory, obscene or violates any Party's intellectual property rights. To not make any untrue or misleading statements on the Platform regarding its business.
• 9.4. To not make any untrue or misleading statements on the Platform regarding its business.
• 9.5. To not use the Platform for any illegal purposes, or re-sell, or trade any services for any commercial purposes other than the purpose the Platform is provided for.
• 9.6. Furthermore, you warrant that the content uploaded on the Platform shall at all times be in consonance with the applicable laws, and shall not contain:
• 9.6.1. Any vulgar, obscene content;
• 9.6.2. Any adverse, offensive / derogatory reference to corporations or brands;
• 9.6.3. Any adverse, offensive / derogatory reference to any personality, living or dead;
• 9.6.4. Any adverse, offensive / derogatory reference to communities, living or extinct;
• 9.6.5. Any content, the presentation, dissemination or disclosure whereof, infringes any intellectual property right or confidentiality obligation;
• 9.6.6. Any content, which could give ground for action for defamation or misrepresentation or breach of confidence or breach of copyright or is otherwise offensive to the public.
• 9.6.7. Any content that is false, inaccurate or misleading in any way infringes upon or violates any third party's rights [including but not limited to intellectual property rights, rights of privacy.
• 9.7. You agree and undertake to use the Platform strictly abiding by the following principles:
• 9.7.1. You shall not access, send, receive, display, disclose, or store any content in violation of any copyright, right of publicity, patent, trademark, service mark, trade name, trade secret or other intellectual property right or in violation of any applicable agreement, or without authorization;
• 9.7.2. You will not reverse engineer, modify, copy, distribute, transmit, display, perform, reproduce, publish, license, create derivative works from, transfer, or sell any information obtained us in any manner whatsoever
• 9.7.3. You will not collect or store data about other users;
• 9.7.4. You will not attempt or otherwise impersonate another person during the use of the Platform;
• 9.7.5. You will not violate any law currently in force in India or outside which includes that you shall not upload and/or post any content on the platform that violates or infringes any statutory or common law right of any person. In case of any such act of yours, you shall be solely liable for the consequences of the same and liable to indemnify us for any and all damages suffered by us on account of such act of yours
• 9.7.6. You will not interfere with another user’s use of the Platform;
• 9.7.7. You agree to use the Platform and the materials, facilities provided therein only for purposes that are permitted by: (a) the Terms; and (b) any applicable law, regulation or generally accepted practices or guide in the relevant jurisdictions;
• 9.7.8. You shall not interfere, disrupt or attempt to gain unauthorized access to any computer system, server, network or account for which you do not have authorization to access or at a level exceeding your authorization;
• 9.7.9. You shall not disseminate or transmit any virus, worms, trojan horse or other malicious, harmful or disabling data, work, code or program or hamper with the software of the platform in any manner whatsoever
• 9.7.10. You shall not engage in any other activity deemed by us to be in conflict with the spirit or intent of the Agreement or any other policy of ours and the platform as examples listed hereby are not exhaustive.
• 9.7.11. You may not use the platform and the services provided by us to substantially replicate the platform or services offered by us, including the creation of a separate application or platform substantially similar to IndiaP2P’s environment. If we determine or believe, in our sole discretion, that you have violated or attempted to violate these conditions or the spirit of these terms, your ability to use and access our platform and services may be temporarily or permanently revoked, with or without notice.
• 9.8 For any kind of fraudulent, unlawful, declined, and prohibited transaction IndiaP2P reserves its right to recover:
• 9.8.1. the cost of services /products,
• 9.8.2. collection charges
• 9.8.3. lawyers and litigation fees; etc. IndiaP2P reserves its right to initiate legal proceedings against such person for the aforestated unlawful use of the site and other unlawful acts or omission in breach of these terms & conditions

10. INTELLECTUAL PROPERTY

• 10.1. All trademarks, patents, copyrights and other intellectual property rights owned by any party shall continue to be owned solely by such party, and except as set forth herein, nothing in the Terms and Conditions shall be deemed to confer any rights to any such intellectual property on the other party.
• 10.2. The logos, trademarks and service marks ("Marks") displayed on the Platform are solely the intellectual property of IndiaP2Pand the respective persons. Any User of the Platform is prohibited from using the intellectual property of the Platform and the intellectual property as available on the Platform that does not belong to such user in any manner without the prior written permission of IndiaP2P.
• 10.3. All information and content, including any software programs available on or through the Platform ("Content"), are protected by copyright. Accordingly, each User of the Platform is prohibited from modifying, copying, distributing, transmitting, displaying, publishing, selling, licensing, creating derivative works, or using any Content available on or through the Platform for commercial or public purposes

11. CONFIDENTIAL INFORMATION

• 11.1. You understand and acknowledge that you may, during the course of this Agreement, acquire information or knowledge about us that tantamount to Confidential Information. Thereby you agree that during the term of this Agreement and for so long thereafter as such information remains confidential or proprietary to us, you will treat all such information as confidential and will not disclose any such information to any third party nor use such information other than in the pursuance of the objectives of this Agreement;
• 11.2 You acknowledge that disclosure of Confidential Information would cause substantial harm for which damages alone would not be a sufficient remedy, and therefore that upon any such disclosure by you, we shall be entitled to appropriate equitable relief in addition to whatever other remedies it might have at law.

12. INDEMNITY

• 12.1. You agree to defend, indemnify and hold harmless IndiaP2P, its affiliates, and their respective officers, directors, employees and agents, from and against any and all claims, damages, obligations, losses, liabilities, costs and expenses (including but not limited to attorney's fees) arising from:
• 12.1.1. your use of the Platform
• 12.1.2. your violation of these Terms of Use
• 12.1.3. your violation of the terms which apply to your User Submission
• 12.1.4. your violation of any third party right, including without limitation any copyright, property, publicity or privacy right; or
• 12.1.5. Any claim that one of your user submissions caused damage to a third party. This defence and indemnification obligation will survive these Terms of Use and your use of the Platform.
• 12.2. You must cooperate as fully as reasonably required in defence of any such claim. We reserve the right, at its own expense, to assume the exclusive defence and control of any matter subject to indemnification by you.

13. LIMITATION OF LIABILITY

• 13.1. IndiaP2P is merely a facilitator and only managing this Platform as a peer-to-peer lending platform, and neither IndiaP2P nor any of its Affiliates has any interest or are indulged in any manner, through the Platform, in either granting any loan or in borrowing money through the Platform.
• 13.2. IndiaP2P is not responsible for any claim of any kind including any loss or damage if the Lender fails to disburse the Loan or the Borrower fails to repay the Loan;
• 13.3. IndiaP2P in no manner whatsoever, warrants or guarantees the performance of a service provider that is providing services through the Platform;
• 13.4. IndiaP2P in no manner warrants and guarantees that the information as provided on the Platform by any of the users Lender is true or correct. IndiaP2P disclaims all liability with regard to the accuracy of the information on The Platform as provided by the users of the Platform;
• 13.5. IndiaP2P shall not be responsible in any manner whatsoever if any party makes any misrepresentation regarding its financial status or commits a fraud or an act of cheating or any other illegal act;
• 13.6. You hereby agree and consent that the service providers, and partner/s may have access to the profiles of the user limited to the purpose of facilitating lending and credit report.
• 13.7. IndiaP2P does not issue any certificate for GST.
• 13.8. IndiaP2P does not own or take any responsibility on behalf of the either party, in respect of the taxes or any other statutory compliance and the same shall be sole and exclusive responsibility of the concerned party;
• 13.9. IndiaP2P does not raise deposits as defined by or under Section 45I(bb) of the Act or the Companies Act, 2013.
• 13.10. IndiaP2P does not hold, on its own balance sheet, funds received from lenders for lending, or funds received from borrowers for servicing loans.
• 13.11. You understand that IndiaP2P does not assure return of principal/payment of interest and that there exists a likelihood of loss of entire principal in case of default by a borrower.
• 13.12. IndiaP2P does not guarantee that the Borrower’s listing will be matched with any lender commitments, or that the Borrower will receive a loan as a result of posting a listing on the Platform.
• 13.13. UNDER NO CIRCUMSTANCES SHALL INDIAP2P, ITS SUBSIDIARIES, EMPLOYEES, OFFICERS, AFFILIATES, DIRECTORS, AGENTS, SUPPLIERS, SHAREHOLDERS, NON EXECUTIVE DIRECTORS OR ITS LICENSORS INVOLVED IN CREATING, PRODUCING, TRANSMITTING OR DISTRIBUTING PRODUCTS OR SERVICES ON THIS SITE, GRANTING OR RECEIVING LOAN FROM A MEMBER ASSOCIATED WITH THE INDIAP2P WEBSITE BE LIABLE FOR ANY DIRECT, INDIRECT, PUNITIVE, INCIDENTAL, SPECIAL, OR CONSEQUENTIAL DAMAGES THAT RESULT FROM EITHER MISREPRESENTATION, FRAUD, COERCION, BREACH OF TRUST, MISAPPROPRIATION, CHEATING OR FOR ANY OTHER SUCH REASON OF ITS END USERS OR OF THIRD PARTIES INCLUDING BUT NOT LIMITED TO LOSS OF PROFITS AND LOSS OF GOODWILL OR LOSS OF INTEREST.

14. COMPLIANCE WITH RBI

• 14.1. You hereby represent and warrant that you have read the Master Directions issued by the Reserve Bank of India (‘RBI’) for Non-Banking Financial Company – Peer to Peer Lending Platforms on October 04, 2017 (‘Master Directions’) By Registering as Lender on the Site you agree that:
• 14.1. You have not lent any amounts exceeding INR 25,00,000 across all the P2P platforms in India and you also agree that you will not exceed the limit specified by the RBI for lending on P2P platforms in India.
• 14.2. In case you are investing more than ₹10,00,000 across P2P platforms you shall produce a certificate to P2P platforms from a practicing Chartered Accountant certifying your minimum net-worth of ₹25,00,000.
• 14.3. You shall not lend any amount exceeding INR 25,000 to the same Borrower across all P2P lending platforms in India.
• 14.4. You understand all the risks associated with the lending transactions.
• 14.5. You understand that IndiaP2P does not provide any assurance for the recovery of loans.
• 14.2. Customer Consent for KYC Record Retrieval

  By signing up on the Platform, you hereby consent to the retrieval of your KYC (Know Your Customer) records from the Central KYC Records Registry (CKYCRR) in accordance with the Reserve Bank of India (RBI) Master Directions on KYC issued vide ref no. RBI/DBR/2015-16/18 Master Direction DBR.AML.BC.No.81/ 14.01.001/2015-16, dated February 25, 2016 and last updated on January 04, 2024 read with the requirements of CKYCRR communicated vide notification no. CKYC/2023/04 dated September 29, 2023, and notification no. CKYC/2024-25/5016 dated April 01, 2024. The CKYCRR facilitates the storage and retrieval of KYC records for the establishment of account-based relationships with various reporting entities (REs).

  
  

  As per RBI guidelines and the Digital Personal Data Protection Act 2023, it is imperative that customer consent is obtained prior to the retrieval of KYC records from CKYCRR. Therefore, by agreeing to these terms and conditions, you acknowledge and expressly authorize the Company to retrieve your KYC records from CKYCRR when necessary for the establishment of an account-based relationship.

  
  

  Furthermore, you understand that any retrieval of KYC records from CKYCRR by the Company will be done solely for the purpose of fulfilling regulatory requirements and facilitating the provision of our services to you. We assure you that your personal data will be handled in accordance with the highest standards of data protection and confidentiality. CKYCRR shall notify you each time your KYC records are downloaded and/or retrieved from the Central KYC Records Registry (CKYCRR), so that you are informed about any activity involving your personal information. These notifications are intended to enhance transparency and enable you to monitor the usage of your KYC records by the Company.

  
  

  If you have any concerns or objections regarding the retrieval of your KYC records from CKYCRR, please contact us immediately to discuss further options.

  
  

  By continuing to use our services, you confirm that you have read, understood, and agreed to the above terms regarding the retrieval of your KYC records from CKYCRR.

15. TERMINATION

• 15.1. We may suspend or terminate this Agreement and your account, with respect to the use of Platform, if you fail to comply with the terms and conditions of this Agreement and other applicable policies.

16. DISPUTE RESOLUTION

• 16.1. The Parties agree to first mediate any disputes or claims between them in good faith and resolve the disputes amicably and share the cost of mediation equally. In the event that mediation fails and no resolution is achieved within 15 (Fifteen) days, then such dispute or claim arising out of or relating to this Agreement shall be settled by Arbitration in accordance with the [Indian] Arbitration and Conciliation Act, 1996. All hearings will be held at Mumbai, India and shall be conducted in English. The Platform shall appoint a sole arbitrator to preside over the arbitration proceedings. This Agreement shall be governed by and construed in accordance with the laws of India. The adjudication of any dispute will be the exclusive jurisdiction of the courts of Mumbai, India.

17. MISCELLANEOUS

• 17.1. Entire Agreement: This Agreement along with the Terms & Conditions, Privacy Policy and any other prevailing policy of ours and the platform shall be binding upon you if you proceed with availing the Services of the Platform.
• 17.2. Electronic Contracting: Your affirmative act of using, accessing and testing the Platform constitutes your electronic signature to this Agreement, which includes our Privacy Policy, Acceptable Use Policy and Additional Terms, and your consent to enter into agreements with us electronically.
• 17.3. Severability: If any provision of this Agreement is held to be void, invalid, unenforceable or illegal, the other provisions shall continue in full force and effect
• 17.4. Assignment: You shall not assign its rights under this Agreement without the prior written consent of the other Party. You cannot sub-contract any of your obligations (or part thereof) under this Agreement to any third party in any manner. The Platform reserves the right to replace any Borrower and/or Lender for any loan disbursed through the Platform under a Loan Agreement.
• 17.5. Reporting Violations: Violations of this Agreement are unethical and may be deemed criminal offenses. You shall report to us any information you may have concerning instances in which this Policy has been or is being violated. We may at any time initiate an investigation of any use of the Service for compliance with this Policy and you agree to cooperate.
• 17.6. Remedies: If either party to this Agreement breaches any provision of this Agreement relating to Confidential Information or intellectual property rights, there may not be an adequate remedy available solely at law; therefore, an injunction, specific performance or other form of equitable relief or monetary damages or any combination thereof may be sought by the injured party to this Agreement.
• 17.7. Waiver: No failure or delay by the injured party to this Agreement in exercising any right, power or privilege hereunder shall operate as a waiver thereof, nor shall any single or partial exercise thereof preclude any other or further exercise thereof or the exercise of any right, power or privilege hereunder at law or equity.
• 17.8. Relationship Between The Parties: The relationship between Parties shall be on principal-to-principal basis. Each Party is an independent contractor and is not a legal representative, partner or agent of the other Party. Neither Party shall have any right, power or authority, whether expressed or implied, to create any obligation on behalf of the other Party
• 17.9. Force Majeure: We shall not be liable to you or be deemed to be in breach of this Agreement by reason of any delay in performing or any failure to perform any of our obligations if the delay or failure was due to any cause beyond our reasonable control. Without prejudice to the generality of the foregoing the following shall be regarded as causes beyond our reasonable control:
• 17.9.1. act of God, explosion, flood, tempest, fire or accident;
• 17.9.2. epidemics, pandemics;
• 17.9.3. war or threat of war, sabotage, insurrection, civil disturbance or requisition;
• 17.9.4. acts of restrictions, regulations, bye-laws, prohibitions or measures of any kind on the part of any governmental parliamentary or local authority;
• 17.9.5. import or export regulations or embargoes;
• 17.9.6. interruption of traffic, strikes, lock-outs, other industrial actions or trade disputes (whether involving our employees or of a third party);
• 17.9.7. interruption of Service or operation, difficulties in obtaining raw materials labour fuel parts or machinery;
• 17.9.8. power failure or breakdown in machinery. Upon the happening of any one of the events set out as above, we may at our discretion:
• 17.9.9. fully or partially suspend delivery of service if such circumstance continues;
• 17.9.10. terminate any Agreement so affected with immediate effect by notifying you thereby we shall not be liable for any loss or damage suffered by you as a result thereof.

18. CONTACT US

• 18.1. If you have any questions about this Agreement, please contact us by email or regular mail at the following email address: investors@indiap2p.com