TERMS AND CONDITIONS
2. Customer Eligibility
2.1 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.
2.2 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.
2.4 The User must have a rupee denominated savings/current account with a bank in India.
2.5 User must have PAN (Permanent Account Number), allotted by Income Tax Department of India.
2.7 Borrower Eligibility
2.7.1 Borrower must be a self-employee or a salaried individual.
2.7.2 Borrower must be based in India
2.7.3 Borrower should not be operating in any Prohibited Sectors
2.7.4 Borrower must not have an interest in any business that operates in any of the Prohibited Sectors
2.7.5 Borrower must be seeking a loan amount in multiples of INR 1,000 up to INR 10,00,000 with a loan term of not more than 36 months
2.8 Lender Eligibility
2.8.1 A lender should be either an individual; or
2.8.2 A lender should be authorized and regulated by the RBI to carry on the activity of lending money to individual/entity as lender
2.8.3 A lender should be authorized and regulated by any state/states of India to carry on the activity of lending money to individual/entity as lender
3. Registration on the Website
3.1 As indicated, any person may access the Website by registering on the Website
3.2 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.
3.3 By applying for registration, the User agrees and authorizes FinancePeer to carry out such checks and verification as part of the registration process including but not limited to:
3.1.1 identity, KYC, fraud checks.
3.1.2 obtain a credit rating for Users from the Credit Information Bureau;
3.1.3 carry out residence and/or work verification at your employment location;
3.4 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).
3.6 Borrower Registration Fee: We will charge each Borrower a one- time registration fee of INR 600 for the services that we provide to the Borrowers. For any subsequent application, borrower will pay INR 600 for re-verification charges. These fees are non-refundable.
3.7 Lender Registration Fee: No registration fee is charged to the Lender.
4. Website Usage
4.1 To lend or borrow through the Website You must log on to Financepeer Account.
4.2 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.
4.3 All Website Users hereby confirm and acknowledge that they have been provided with copy of the loan agreement (“Loan Agreement”) to be entered between the Borrower and the Lender. All Users further confirm they 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. To view a copy of the Loan Agreement, please click on the link.
4.4 If any User learns or is made or becomes aware of any instance of hacking or misuse of its FinancePeer Account, it shall without delay notify the Website of the same.
4.5 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.
4.6 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.
4.7 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.
4.9 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.
4.10 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.
4.11 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.
4.12 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.
4.13 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.
5. Borrowing Process
5.1 A Borrower can borrow from the Website by posting a loan requirement through the Website and completing the application process.
5.2 During the registration process, the borrower must also enter the bank account for the purpose of making repayments due to the Lender.
5.3 By posting Loan Request, Borrower agrees:
a) To provide FinancePeer with certain additional information which , and that if it is discovered that the additional information and/or the information borrower provided during the application process is inaccurate or deficient in any respect, the Loan Request will be void and FinancePeer reserves the the right to take appropriate actions against the Users.
b) A borrower’s loan request can be processed by multiple lenders. Any loan amount offered by any Lenders will be acceptable to the Borrower
c) When the total borrower request limit is reached, the loan is accepted for disbursal
5.4 Formation of Loan Agreements
a) The Borrower agrees to accept each of the loan offer that meets your borrowing criteria.
b) The Borrower agrees to sign and execute the loan agreements electronically or physically. In case of multiple loan agreements, the Website will provide you with a summary of loan availed in the FinancePeer Account.
5.5 Disbursement of Loan Proceeds upon execution of all the required documents and fulfilment of all conditions for disbursements, to the sole satisfaction of the Company, the borrowed amount will be credited to the account of the Borrower.
5.6 Charges and Fees: Website shall be entitled to charge the following fees and charges.
a) Processing Fees: 2% of the loan amount plus fixed amount of INR 275.
b) Stamp Duty: 0.1% of loan amount or INR 100, whichever is higher.
c) Bank Account Change Fee: INR 500 if the borrower changes the bank account with active loan
d) FinancePeer will charge service fees from the borrower each month on the outstanding loan amount at the rate of 2% - 4% of the monthly loan EMI for the services rendered by FinancePeer. We do not charge upfront fee so as to not put undue financial burden on the borrower
e) Late payment charges: 1 month interest on outstanding loan amount. Min. INR 100/lender and Max. INR 500/lender
f) Default Recovery Fees: Actual costs incurred by FinancePeer and will include all legal and operational costs incurred during the recovery process.
g) No Response Fee: 15 days interest on outstanding loan amount if the borrower is unreachable for 15 consecutive days after the missing EMI payment. Min. INR 100 and Max. INR 500
h) Loan Cancellation Charges: INR 700 for loan amount upto INR 10,000 and INR 1,000 for loan amount in excess of INR 10,000 will be charged in case a borrower decides to withdraw the loan application within 15 days
i) GST as prescribed by Govt & regulatory authorities will be applicable
6. Lending Process
6.1 In case, the Lender wishes to lend, the Lender will have an option to select one or multiple Borrower’s Profile to whom the Registered Lender wishes to lend from various Borrower’s profile listed on the Website.
6.2 Upon selecting the Borrower, the Registered Lender will transfer an amount equivalent to the amount that he/she wishes to lend (“Lending Amount”) in the Escrow Account through his bank account using RTGS/NEFT.
6.3 Upon successful transfer of the Lending Amount to the Escrow Account, and once FinancePeer receives the funds in the Escrow Account, the Lending Amount will be reflected in the User’s FinancePeer Account.
6.4 Upon selecting and confirming the Borrower’s profile (“Selected Borrowers”), an amount equivalent to the amount which the Registered Lender wishes to lend to the Selected Borrowers will be debited to the Borrower's Account.
6.5 The Lender and Borrower will E-sign the Loan Agreement.
6.6 The amount will be transferred to the Selected Borrower from the Escrow Account.
7. Payment Process
7.1 All the collected repayments will be transferred to Lender’s FinancePeer account within 3 days of the receipt of the EMI from the borrower
(a) Lender will be notified when FinancePeer deposit the received EMIs to his bank account.
(b) As a Borrower, you make your repayments due under loan agreements by direct debit to your bank account, which results in an initial credit and debit to your Loan Account on FinancePeer, and then a credit in each relevant Lender's lending account.
8. Loan Process
8.1 EMI: EMIs will start as per the date of disbursement of the loan. The Lender will start earning interest from the day of disbursement of the loan.
8.2 Prepayment Terms: Any Borrower who wishes to prepay the loan can pre-pay the loan without any prepayment charges. For prepayment, please email us at firstname.lastname@example.org . While doing so the Borrower has to pay the entire interest for the month in which he/she chooses to prepay the loan irrespective of loan prepayment date.
8.3 Missed Payments
In case a Borrower misses a payment or anticipates that for any reason whatsoever the Borrower will not be able to repay as per the payment schedule under the Loan Agreement, then the Borrower should promptly contact the Company by sending an email to email@example.com. Upon receipt, of the e-mail, we shall undertake the following actions:
a) Explain the delay charges and options available with you
b) Inform the relevant Lender regarding the same
c) Inform if your account is being passed on to internal recovery team for further legal recovery as your loan has been classified under Default category.
d) Pass on your details to the Lender, if you have missed more than 2 EMIs.
e) Inform the Credit Information Bureau about the Borrower’s default in repayment. As a word of caution, we would like to inform you that this reporting may adversely impact your credit score and will have serious consequences on your ability to avail any credit in the future.
8.4 Default Category
A Borrower shall be considered under “default” category, if either of the below event has occurred:
a) if he/she fails to pay the EMI for three consecutive months;
b) if we receive confirmation that the Borrower has died;
c) if the Borrower has entered into a terminal arrangement affecting the Borrower’s Loan Agreements
d) Other specific situation, which may arise at any point in time, the website will have a right to decide whether to classify any Loan Agreement under “Default” or not.
8.5 Payment Date Changes
In case a Borrower wishes to change the repayment date (“Payment Date”) other than in case of an inability to make a payment at all, the Borrower may:
(a) You may ask FinancePeer to change the Payment Date by notifying us that you wish to do so and specify the new date within the month upon which you wish your Any request for change of Payment Date may be made by signing in to FinancePeer Account and following the instructions there, or by email to firstname.lastname@example.org
(b) You can change your Payment Date only once in 6 months.
(c) Depending on whether the Payment Date is before or after the original Payment Date, the amount payable on the Payment Date will be adjusted to take account of the number of days between the Payment Date and the original repayment date. The remaining payments (assuming no further changes) will revert to the usual Repayment amount thereafter.
(d) FinancePeer will then acknowledge and confirm the new Payment Date and any change to the amount of your next Payment as a result, before effecting any change. Depending on how you request the change, this acknowledgement and confirmation will take place online, during the course of your telephone call or by an exchange of email with you.
(e) FinancePeer may request justification for the change to the repayment date and reserves the right not to complete the request if in its sole and absolute discretion it determines that the change is not due to an appropriate change in circumstances or that the process set out above is not being followed.
(f) You will have to pay applicable charges on the same
9. How to close Your FinancePeer Account
9.1 Once all your outstanding loans are repaid, you may terminate your FinancePeer account by sending us an email to email@example.com and you will no longer be able to access the Lending Platform. However, we will continue to maintain records to the extent that we are required by law.
9.3 We may either terminate or suspend your registration immediately and without notice if we are aware or reasonably suspect that you are engaged in, or may be the victim of, any fraudulent activity or we find that you are spoiling the reputation of the website or we find any activity which is against the interest of the website or we find you are using information available on the platform for any other commercial purpose.
9.4 When we terminate your registration, you will not have access to your FinancePeer Account. However, this will not affect your obligation to repay the amount you have borrowed under a Loan Agreement. Or receive EMI Amount you have lent under a Loan Agreement.
10. Occasional Updates
When you register on FinancePeer you are offered the option to receive our occasional updates. These messages notify you about new features added on the Online Platform, ask your opinion regarding various situations and services, and tell you about services you might not be using yet.
11. Use of Content
While using the Website, the User specifically undertakes not to host, display, upload, modify, publish, transmit, update or share any information or content that:
(i) belongs to another person and to which the User does not have any right to;
(ii) is grossly harmful, harassing, blasphemous, defamatory, obscene, pornographic, pedophilic, libelous, 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;
(iii) Harms minors in any way;
(iv) Impersonates any person or entity, or falsely state or otherwise misrepresent the User’s affiliation with a person or entity;
(v) 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;
(vi) infringes any patent, trademark, copyright or other IPR (defined below);
(vii) contains software viruses or any other computer code, files or programs designed to interrupt destroy or limit the functionality of any computer resource;
(viii) deceives or misleads the addressee about the origin of such messages or communicates any information which is grossly offensive or menacing in nature;
(ix) engages 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);
(x) attempts 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;
(xi) probes, scans 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;
(xii) disrupts or interferes 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 a ny affiliated or linked sites;
(xiv) falsify or delete any author attributions, legal or other proper notices or proprietary designations or labels of the origin or source of software or other material contained in a file that is uploaded;
(xv) Violates any code of conduct or other guidelines, which may be applicable for or to any p articular service;
(xvi) Violates any applicable laws or regulations for the time being in force within or outside India;
12.1 The User hereby indemnifies, defends and holds harmless the entity owning and operating the Website, its subsidiaries, affiliates, vendors, agents and their respective directors, officers, employees, contractors and agents (herein after individually and collectively referred to as " indemnified parties") from and against any and all losses, liabilities, claims, suits, proceedings, penalties, interests, damages, demands, costs and expenses (including legal and other statutory fees and disbursements in connection therewith and interest chargeable thereon) asserted against or incurred by the indemnified parties that arise out of, result from, or in connection with:
(ii) Any claims made by any third party due to, or arising out of, or in connection with, the User’s use of the Website; or
(iii) Any claim that any third party IPR, proprietary information, content or materials provided by the User causes any damage to a third party; or
(iv) Violation of any rights of any third party by the User, including any IPR; each an "Indemnity Event".
12.2 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.
12.3 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.
12.4 Notwithstanding anything to contrary, in no event shall the Website, its subsidiaries or affiliates and their respective officers, directors, employees, partners or suppliers be liable to the User for any special, incidental, indirect, consequential, exemplary or punitive damages whatsoever, including those resulting from loss of use, data or profits, whether or not foreseeable or whether or not the Website has been advised of the possibility of such damages, or based on any theory of liability, including breach of contract or warranty, negligence or other tortious action, or any other claim arising out of or in connection with the User’s use of or access to the Website or the Product.
13. Intellectual Property Rights
13.2 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.
13.3 All those IPR arising as a result of domain names, internet or any other right available under applicable law shall vest in the domain of www.FinancePeer.com as the owner of such domain name.
13.4 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.
13.5 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.
14. Report Abuse Policy
14.2 For any reporting in respect of the aforesaid, the User should contact the Website at firstname.lastname@example.org
14.3 If a feedback comment or any communication made between Users and the Website or email communication between Users in relation to transactions conducted on the Website contain profanity, please submit a request for action/removal. Disciplinary action may result in the indefinite suspension of a User's account, temporary suspension, or a formal warning.
14.4 The Website shall consider the circumstances of an alleged policy violation and the User's trading records before taking action violations of this policy may result in a range of actions, including: (a) limits placed on account privileges; (b) loss of special status; (c) account suspension.
15. Feedback,Information and Customer Service
15.1 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.
15.2 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.
15.3 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.
15.4 By submitting any feedback or any information, the User hereby warrants that (i) the feedback does not contain confidential or proprietary information belonging to the User or any other person; and (ii) shall not be entitled to any compensation or reimbursement of any kind from the Website for the feedback under any circumstances.
15.5 If you want to make a complaint about the Loan Agreement or FinancePeer you can email email@example.com with brief details of your complaint and your account reference. We will then investigate and send you an initial response within five working days.
16. Applicable Law
17. Dispute Resolution
17.2 In case of such failure, the dispute shall be referred to a sole arbitrator, who shall be appointed by the Website. The arbitration proceedings shall be governed by the Indian Arbitration and Conciliation Act, 1996 and shall be held in Mumbai. The language of arbitration shall be English.
18. Jurisdictional Issues
Unless otherwise specified, the products/items listed on the Website are solely for the purpose of delivery in India. The Website shall under no circumstance be held liable for use or availability of Products for use in locations/countries other than India.19. General Provisions
20. Insurance for Loan or Borrower
20.1 This feature is currently not available. However, Lender and Borrower authorizes website to work with any insurance company registered with IRDA and ready to provide beneficiary product. If such facility comes in existence on website in future, website need not take any permission from user.
20.2 For any such product Borrower or Lender or Both choses to pay the premium amount to FinancePeer and then FinancePeer will pay the same to the insurance company on your behalf.
20.3 FinancePeer will be the nominee for this insurance policy and is authorized to manage the claim settlement process on your behalf. Once the claim settlement is done, FinancePeer will distribute the settlement amount to Lender(s) and then transfer available amount to borrower’s bank account if there is any.
20.4 In case your repayments are irregular or delayed on a consistent basis, FinancePeer reserves the right to cancel the insurance policy. The insurance policy will be co -terminus with your loan tenure.
20.5 In case of any incident (permanent disability/accidental death of the Borrower), the beneficiary/nominee will need to intimate FinancePeer, who will then initiate the claims on the beneficiary/nominee’s behalf.
FinancePeer shall have the right, but not the obligation, to monitor the content of the Site at all times, including any chat rooms and forums that may hereinafter be included as part of the Site, to determine compliance with this Agreement and any operating rules established by FinancePeer, as well as to satisfy any applicable law, regulation or authorized government request. Without limiting the foregoing, FinancePeer shall have the right to remove any material that FinancePeer, in its sole discretion, finds to be in violation of the provisions hereof or otherwise objectionable.
22. License Grant
By posting communications on or through this Site, User shall be deemed to have granted to FinancePeer a royalty-free, perpetual, irrevocable, non-exclusive license to use, reproduce, modify, publish, edit, translate, distribute, perform, and display the communication alone or as part of other works in any form, media, or technology whether now known or hereafter developed, and to sublicense such rights through multiple tiers of sub-licensees.
23. Payment Details
You agree, understand and confirm that the payment details provided by you for availing of services on FinancePeer will be correct and accurate and you shall not use payment methods which are un-lawfully owned by you, thus you must not pay or attempt to pay for services using fraudulent credit card information. You further agree and undertake to provide the correct and valid credit card details to FinancePeer. Further the said information will not be utilized and shared by FinancePeer with any third parties unless required for fraud verifications or by law, regulation or court order. FinancePeer will not be liable for any credit card fraud. The liability for use of a card fraudulently will be on you and the onus to ‘prove otherwise’ shall be exclusively yours.
24. Fraud Checks
FinancePeer reserves the right to recover the cost of Service(s) and Product(s), collection charges and lawyers’ fees from persons using the Site fraudulently. FinancePeer reserves the right to initiate legal proceedings against such persons for fraudulent use of the Site and any other unlawful acts or omissions in breach of these terms and conditions.
25. RBI guidelines
25.1 Reserve Bank of India does not accept any responsibility for the correctness of any of the statements or representations made or opinions expressed by FinancePeer and does not provide any assurance for repayments of the loan lent on FinancePeer platform.
25.2 The borrower explicitly provides consent to FinancePeer to share the borrower credit information (including transactions on the platform) with the Credit Information Companies as required by RBI Guidelines.
25.3 Reserve Bank of India does not accept any responsibility for the correctness of any of the statements or representations made or opinions expressed by FinancePeer and does not provide any assurance for repayments of the loan lent on FinancePeer platform.
26. Cancellation Policy
Please note that there may be certain instruction to remit payments or seek rendition of services that Financepeer is unable to accept shall be cancel. We reserve the right, at our sole discretion, to refuse or cancel any order for any reason. The borrower(s) and lender(s) are required to note that negative third party verification report(s) are crucial factors considered during the funding process. We may also require additional verifications or information before accepting any instruction or registering you on are portal as a lender or a borrower. The funding may get rejected at any stage due to lack of information or verifiable information.
27. Fraudulent /Declined Transactions
Financepeer reserves the right to recover the cost of Service(s) and Product(s), collection charges and lawyers fees from persons using the Site fraudulently. Financepeer reserves the right to initiate legal proceedings against such persons for fraudulent use of the Site and any other unlawful acts or omissions in breach of these terms and conditions.
Standard Terms and Conditions applicable to Individual Consumer of Equifax Credit Information Services Private Limited (Equifax)
A. Definition: The words Credit Information used in this section mean: the details of your credit / loan Account or other borrowings provided in the Equifax Credit Information Report (CIR) provided to you.
Other terms not defined herein shall have the meaning as per the Credit Information Companies (regulation) Act, 2005 and Rules and Regulations made there under (together referred as “CIC Laws”).
B. The processing of your request (Services) will start after receipt of your CIR request form (Request Form) duly signed by you or your authorised person, with the relevant documents.
C. Processing and Dispatch of an Equifax Credit Information Report:
(a) On receipt of completed Request Form, along with relevant documents as mentioned above there will be a verification and validation process. The below mentioned conditions are applicable:
- You must be over 18 years of age
- You agree to pay the Price as indicated in the Request Form
- You must provide us with complete and accurate details such as your full name, date of birth and address of residency
- Each request is for one person only, we do not accept joint request
- Each request is for one person only, we do not accept joint request
(b) We would be unable to provide the CIR to you/your authorised person if we have been unable to validate your information; or you have not provided us the additional information as we requested from you to complete the validation process within 30 days from the day of our request for further information is issued. If the information you receive is damaged for reasons or circumstances beyond our or your reasonable control or if you think we have not provided the Services we agreed to provide you, you should contact us either in writing addressed to Equifax Credit Information Services Private Limited, Unit No.931, 3rd Floor, Building No.9, Solitaire Corporate Park, Andheri Ghatkopar Link Road, Andheri East, Mumbai – 400093 or call us at Toll Free No. 1 800 209 3247 or email us at firstname.lastname@example.org D. Permitted Use of Information: You agree that you shall not reproduce or use the CIR except as permitted under the provisions of CIC Laws.
E. Third Party Rights: Anyone other than you shall not be able to enforce any part of the Conditions mentioned herein.
F. Applicable Law and Jurisdiction: These Conditions shall be governed by and understood in accordance with Indian laws, more specifically the CIC Laws and courts in the city of Mumbai will have exclusive jurisdiction.
(a) The CIR provided is based upon the data which is relevant at the time the CIR sent to you. You therefore acknowledge and accept or agree that the accuracy and/or relevance of the CIR may change after it is delivered to you. Equifax will not be responsible for any failure to generate a CIR in the event the bank or credit / financial institution that you are a customer of ceases to provide data to us.
(b) The Information supplied does not constitute any form of advice, recommendation or endorsement by us and is not intended to be relied upon by you in making (or refraining from making) any specific decision. We do not accept any responsibility for any loss including consequential, incidental, indirect, exemplary or special damages, including lost profits that may arise from relying on the Information. Neither Equifax, nor its officers, directors, employees or agents shall be liable to you for any claim, injury or damages suffered by you consequent up on furnishing the CIR to you.
(c) Equifax will use best efforts in the supply of the CIR to you. As we obtain the data from our members, Equifax does not guarantee the timeliness, correctness or completeness of such Credit Information. Equifax will check the quality of data received from its members to ensure that the CIR provided to you is accurate, on a best efforts basis.
(d) Equifax’s liability to you arising in contract, tort or otherwise from any information or from any action taken (or refrained from being taken) as a result of the Services is limited as follows:
- Equifax has no other liability to you until it has received notice of your complaint or issue and its liability to you is limited to the Price paid by you;
- Equifax has no other liability for any complaint or issues, delays or defects in the Information if such complaint or issues, defects or delays are caused by any event or circumstances beyond its reasonable control;
- Equifax does not accept any liability to you for any indirect or consequential loss or damage arising out of the Services;
- Each request is for one person only, we do not accept joint request
- Each request is for one person only, we do not accept joint request
H. Modification of terms: The terms and conditions mentioned herein may be modified by Equifax in its sole discretion from time to time.
I. Other Terms and Conditions:
(a) If a court finds any part of these conditions to be invalid, the remaining parts of these conditions shall continue unaffected.
(b) If either of us fails to exercise any right or legal remedy available to either you or us any such failure shall not prevent you or us from relying on these at a later date.
(c) Headings in these Conditions are for convenience only and will have no legal meaning or effect.
J. Contact details:
In case of any query with regards to our Services and /or issues, you can write to us at: Equifax Credit Information Services Private Limited, Unit No. 931, 3rd Floor, Building No.9, Solitaire Corporate Park, Andheri Ghatkopar Link Road, Andheri East, Mumbai – 400093 or call us at Toll Free No. 1 800 209 3247 or email us at email@example.com