Borrower Means the person who is registered as a borrower on the Website/online peer to peer digital marketplace/lending platform i.e. www.paisadukan.com and has been accepted by us for membership post all legal due diligence.
Lender/Investor means a person who has completed the registration process to use the online peer to peer digital marketplace/lending platform www.paisadukan.com and has been accepted by us for membership post all legal due diligence.
Business Day means A day (other than a Sunday or Public Holiday) when banks in India are open for business
Tripartite Agreement means an agreement among three parties: (1) Investor (2) Borrower and (3) BigWin Infotech Private Limited under certain agreed and accepted Terms and Conditions.
- BIGWIN INFOTECH PRIVATE LIMITED:
BigWin Infotech Private Limited means BigWin Infotech Private Limited an Indian Company registered under the provisions of Companies Act, 2013
Default Event Means the failure of a Borrower to comply with the terms of the Tripartite Agreement
Information means any of the information that can be viewed or downloaded from the Website/online peer to peer digital marketplace/lending platform i.e. www.paisadukan.com” (herein after referred to as Online peer to peer digital marketplace/lending platform/Website/PaisaDukan and includes, but is not limited to, data, pricing information, Terms, images, reports, policies and software. It also includes our copyright, Intellectual Property Rights, Information Technology or other commercially valuable property.
Information Technology means all computer hardware (including network and telecommunications equipment), databases, and all computer software (including the Online peer to peer digital marketplace/lending platform or any software required for the Online peer to peer digital marketplace/lending platform) owned, used, leased by us.
- INTELLECTUAL PROPERTY RIGHTS:
Intellectual Property Rights means all patents, rights to inventions, copyrights and related rights, trademarks, business names and domain names, rights in get up, goodwill and right to sue for passing off, database rights, right to use, and protect the confidentiality of, confidential information, and all other intellectual property rights, whether registered or unregistered, including all applications and rights to apply for and be granted, renewals or extensions of, and rights to claim property form, such rights and all similar or equivalent rights or forms of protections which subsist or will subsist now Or In The Future In Any Part Of The World.
Paisadukan means the Online peer to peer digital marketplace/lending platform i.e. www.paisadukan.com” for people to borrow money from other people. The people providing the funding are investors who would like to loan money to creditworthy borrowers. Borrowers get the recognition for their good credit behaviour on the Online peer to peer digital marketplace/lending platform.
- ONLINE PEER TO PEER DIGITAL MARKETPLACE/LENDING PLATFORM:
Online peer to peer digital marketplace/lending platform means The internet /online peer to peer digital marketplace/lending platform operated by us at www.paisadukan.com for the purpose of matching Borrowers with Lender Members.
- PEER TO PEER LENDING PLATFORM:
Peer to Peer Lending Platform means an intermediary providing the services of loan facilitation via online medium or otherwise, to the participants
Participant means a person who has entered into an arrangement with an NBFC-P2P to lend on it or to avail of loan facilitation services provided by it;
NBFC-P2P means Non-banking financial company - Peer to Peer Lending Platform” (NBFC-P2P) means a non-banking institution which carries on the business of a Peer to Peer Lending Platform.
Means the Reserve Bank of India means the Reserve Bank of India constituted under section 3 of the Reserve Bank of India Act, 1934(2 of 1934).
The services offered to you through the Website or Online peer to peer digital marketplace/lending platform.
Our main website which can be found at www.paisadukan.com
- Clause and paragraph headings shall not affect the interpretation of this terms and conditions;
- A reference to a person shall include a reference to an individual, firm, company, corporation, partnership, unincorporated body of persons, government, state or agency of a state or any association, trust, joint venture or consortium (whether or not having separate legal personality) and that person’s personal representatives, successors, permitted assigns and permitted transferees
- Unless the context otherwise requires, words in the singular shall include the plural and in the plural shall include the singular;
- Unless the context otherwise requires, a reference to one gender shall include a reference to the other genders; and
- Participation in a Loan means having an interest in such Loan, whether because you made such Loan to the Borrower pursuant to a Loan Contract or you were transferred such Loan by another Lender Member in accordance with the relevant Loan Agreement and these Terms.
- Use of the Website is available only to such persons who can legally contract under Indian Contract Act, 1872. Persons who are incompetent to contract” within the meaning of the Indian Contract Act, 1872 including minors, un-discharged insolvents etc. shall not be eligible to use the Website. If the person accessing the Website is a minor i.e. under the age of 18 years, such person shall not register as a User of the Website and shall not transact on or use the Website.
- The Website reserves the right to terminate any membership and/or refuse to provide access to the Website if it is brought to the Website’s notice or if it is discovered that the person accessing/using the Website is under the age of 18 years.
- The User must have a rupee denominated savings/current account with a bank in India.
- User must have PAN. Permanent Account Number (PAN) is a ten-digit alphanumeric number, allotted by Income Tax Department, Government of India.
- SIGN UP AND REGISTRATION:
- As indicated, any person may access the Website either by registering on the Website or using the Website as a guest. However, a guest user may not have access to all sections of the Website which shall be reserved only for the purpose of registered Users, and which may change from time to time at the sole discretion of the Website.
- All eligible Users who wish/have to register themselves with the Website shall be required to create an account by filling in the details prescribed in the Website.
- By applying for registration, the User agrees and authorizes Paisadukan to carry out such checks and verification. As part of the registration process:
- We shall run identity, KYC( Know your customer policy as per Know-Your-Customers (KYC) Guidelines: Anti Money Laundering Standards of RBI policy ., Obtain a credit rating for Users from the Credit Information Bureau;
- If any User provides any information that is untrue, false, not updated, and incomplete or the Website has reasonable grounds to believe that such information is untrue, false, not updated, incomplete, the Website shall have the right to suspend or terminate the relevant User account and refuse any and all current or future use of the Website (or any portion thereof).
- We will charge each Borrower a one- time registration fee of Rs.500/-( Rupees five hundred only) exclusive of goods and service tax under GST Act or Goods & Service Tax Act India 2017 for the services that we provide to the Borrowers. For any subsequent application, borrower will pay Rs. 250/- (exclusive of GST) for re-verification charges. These fees are non-refundable.
- We will charge each Lender a one- time registration fee of Rs.500/-( Rupees five hundred only) exclusive of goods and service tax under GST Act or Goods & Service Tax Act India 2017 for the services that we provide to the Lenders. This fee will be non-refundable.
- To lend or borrow through the Website you must log on to Paisadukan Account through the website.
- All registered Users of the Website shall be solely responsible for activities relating to the account and the Website or the entity operating the same shall not in any manner be held responsible and/or liable for any illegal acts including but not limited to misuse, un-authorized access, hacking of the Website or refusal to access the Website due to such reason. In such circumstance you agree to compensate us against any all costs, losses and/or expenses which may incur from any fraud and/or illegal activity that you conduct using the Website/Online peer to peer digital marketplace/lending platform.
- All Website Users hereby confirm and acknowledge that they have been provided with copy of the Tripartite loan agreement "Tripartite Loan Agreement to be entered among Bigwin Infotech Private Limited, the Borrower and the Lender/Investor. All Users further confirm that have read and understood all the terms and conditions of the Loan Agreement and upon execution do hereby covenant and undertake to unconditionally abide by the same, without raising any defense of whatsoever nature in respect thereof.
- If any User learns or is made or becomes aware of any instance of hacking or misuse of its Paisadukan Account, it shall without delay notify the Website of the same.
- We can refuse to act on any instruction received from User that we believe: (a) was unclear; (b) was not given by the user; (c) might cause us to breach a legal or other duty; or (d) suggests that the Website is being used for an illegal purpose.
- The Website disclaims, and the User waives off, any and all claims/liabilities arising out of any unlawful usage of the Website, the personal information of the User, inaccessibility of the Website for any reason whatsoever, which are caused owing to causes beyond the control of the Website. While the Website employs best efforts to ensure the aforesaid, it cannot guarantee the same. No User shall trade or sell such User accounts in any manner whatsoever.
- Notwithstanding anything contained herein, the Website may be inaccessible for such purposes as it may, at its sole discretions deem necessary, including but not limited to regular maintenance. The Website may intimate the Users from time to time regarding such inaccessibility. However, under no circumstances will the Website be held liable for any losses or claims arising out of such inaccessibility to the Users, and the User expressly waives off any and all claims/liabilities arising to this end.
- The User shall solely be responsible for obtaining access to the Website, and that access may involve third-party fees (such as internet service provider fees or airtime charges). In addition, the User must provide and shall be responsible for all equipment necessary to access the Website. The User may not bypass any measures that have been implemented to prevent or restrict access to this Website.
- Any unauthorized use and/or access of/to the Website by a User (including any access through the registered account of that User or any device that the User may use to access the Website) shall terminate the permission or license granted to the User by the Website.
- Under no circumstance shall any User save copies, download, and print or otherwise store any content of the Website for any commercial purposes. Accessing, downloading, storing, or otherwise using the content of the Website for any commercial purpose will constitute a material breach of these terms & conditions.
- The Website strictly prohibits any use of the content available through the Website, including but not limited to: (i) any downloading, copying or other use of the content or the Website for purposes competitive to the Website or for the benefit of any third party; (ii) any caching, unauthorized linking to the Website or the framing of any content available on the Website; (iii) any modification, distribution, transmission, performance, broadcast, publication, uploading, licensing, reverse engineering, transfer or sale of, or the creation of derivative works from, any content, products or Services obtained from the Website that the User does not have a right to make available (such as the intellectual property of another party); (iv) any uploading, posting or transmitting of any material that contains software viruses or any other computer code, files or programs designed to interrupt, destroy or limit the functionality of any computer; (v) using any hardware or software intended to surreptitiously intercept or otherwise obtain any information (such as system data or personal information) from the Website (including, but not limited to the use of any scraping” or other data mining techniques, robots or similar data gathering and extraction tools); or (vi) any action that imposes or may impose (in the Website’s sole discretion) an unreasonable or disproportionately large load on the Website’s infrastructure, or damage or interfere with the proper working of the Website’s infrastructure.
- The Website reserves the right to refuse or cancel any registration of its Users, remove any person from the Website and prohibit any person from using the Website for any reason whatsoever, and to limit or terminate such access to or use of the Website at any time without notice.
- While using the Website, the User specifically undertakes not to host, display, upload, modify, publish, transmit, update or share any information or content that:
- Belongs to another person and to which the User does not have any right to;
- Is grossly harmful, harassing, blasphemous, defamatory, obscene, pornographic, paedophilic, libellous, invasive of another’s privacy, hateful, or racially, ethnically objectionable, disparaging, relating or encouraging money laundering or gambling, or otherwise unlawful in any manner whatsoever;
- Impersonate any person or entity, or falsely state or otherwise misrepresent the User’s affiliation with a person or entity;
- Threatens the unity, integrity, defense, security or sovereignty of India, friendly relations with foreign states or public order or causes incitement to the commission of any cognizable offence or prevents investigation of any offence or is insulting of any other nation;
- Infringes any patent, trademark, copyright or other IPR;
- Contain software viruses or any other computer code, files or programs designed to interrupt destroy or limit the functionality of any computer resource;
- Deceives or misleads the addressee about the origin of such messages or communicates any information which is grossly offensive or menacing in nature;
- Engage in any activity that interferes with or disrupts access to the Website or the Products (or the servers and networks which are connected to the Website);
- Attempt to gain unauthorized access to any portion or feature of the Website, any other systems or networks connected to the Website, to any Website server, or to any of the Products offered on or through the Website, by hacking, password mining or any other illegitimate means;
- Probe, scan or test the vulnerability of the Website or any network connected to the Website, nor breach the security or authentication measures on the Website or any network connected to the Website;
- Disrupt or interfere with the security of, or otherwise cause harm to, the Website, systems resources, accounts, passwords, servers or networks connected to or accessible through the Websites or any affiliated or linked sites;
- INTELLECTUAL PROPERTY RIGHTS:
- All IPR on the Website exclusively belong to either the Website or the third party sellers and suppliers, as the case may be. Under no circumstance shall any User infringe in any way such IPR of the Website, a third party supplier or seller during or pursuant to its use of the Website for any purposes whatsoever.
- The Parties hereto agree and confirm that no part of any IPR mentioned hereinabove is transferred in the name of User and any IPR arising as a result of these presents shall also be in the absolute ownership, possession and our control or control of its owners/permitted assigns, as the case may be.
- Except as expressly provided herein, the User acknowledges and agrees that it shall not copy, republish, post, display, translate, transmit, reproduce or distribute or in any other way infringe any IPR through any medium without obtaining the necessary authorization from the Website or the thirty party owner of such IPR.
- Upon occurrence of an Indemnity Event, the Website may notify the User of any claims which the User shall be liable to indemnify the Website against. The User shall then be obligated to consult with the Website regarding the course of action to be undertaken in defending such a claim.
- The User shall not compromise or settle any claim or admit any liability or wrongdoing on the part of the Website without the express prior written consent of the Website which can be withheld or denied or conditioned by the Website in its sole discretion.
- FEEDBACK AND INFORMATION:
- The Website reserves the right, at its sole discretion to use such information for upgrading/enhancing the Website and such use shall be entirely unrestricted. The Website may at its discretion, also make any modifications or changes to the Website and its content on the basis of such feedback or information. In the event that the Website makes any changes or modifications to the Website on the basis of any such feedback, the User shall not have any rights or title (including any IPR) in such changes or modifications to the Website or Products listed therein.
- By submitting any feedback or any information, the User hereby warrants that the feedback does not contain confidential or proprietary information belonging to the User or any other person; and/or shall not be entitled to any compensation or reimbursement of any kind from the Website for the feedback under any circumstances.
- Notwithstanding anything to the contrary contained herein, neither Paisadukan nor its affiliated companies, subsidiaries, officers, directors, employees or any related party shall have any liability to you or to any third party for any indirect, incidental, special or consequential damages or any loss of revenue or profits arising under or relating to these Terms and Conditions. To the maximum extent permitted by law, you waive, release, discharge and hold harmless Paisadukan its affiliated and subsidiary companies, and each of their directors, officers, employees, and agents, from any and all claims, losses, damages, liabilities, expenses and causes of action arising out of your use of the Website.
- DISCLAIMER OF WARRANTIES:
- Your use of the service and all information, products and other content (including that of third parties) included in or accessible from the Service is at your sole risk. The Service is provided on an "as is" and "as available" basis Paisadukan expressly disclaim all warranties of any kind as to the Service and all information, products and other content (including that of third parties) included in or accessible from the Service, whether express or implied, including, but not limited to the implied warranties of merchantability, fitness for a particular purpose and non-infringement Paisadukan make no warranty that the Service will meet your requirements and/or the Service will be uninterrupted, timely, secure, or error-free and/or the results that may be obtained from the use of the Service will be accurate or reliable and/or the quality of any products, services, information, or other material purchased or obtained by you through the Service will meet your expectations and/or any errors in the technology will be corrected. You shall solely be responsible for any damage to your computer system or loss of data that results from the download of any such material. No advice or information, whether oral or written, obtained by you from Paisadukan through or from the Service will create any warranty not expressly stated in these Terms and Condition.
In accordance with Information Technology Act 2000, RBI Guidelines and rules made there under, the name and contact details of the Grievance Officer are provided below:
Name: Mr. Prateek Ghodeshwar
E-mail Id: firstname.lastname@example.org
Phone No.: +91-22-49298989