Terms and Conditions
PLEASE READ THESE TERMS AND CONDITIONS (”Terms”) CAREFULLY. THESE TERMS FORM A LEGAL AGREEMENT BETWEEN MASSFIN LENDING SERVICES PRIVATE LIMITED AND YOU. BY CLICKING ON ”I ACCEPT” OR ”I AGREE” OR BY DOWNLOADING, INSTALLING OR OTHERWISE USING THE SERVICES, YOU ACCEPT AND AGREE TO THE TERMS CONTAINED HEREIN. IF YOU DO NOT AGREE TO THESE TERMS, DO NOT CLICK ”I ACCEPT” OR ”I AGREE” OR DOWNLOAD, INSTALL OR USE THE SERVICES.
MEANINGS
”Application or App.” shall mean ______________, the mobile application created, developed and designed by the Company for providing the Services.
”LENDER” shall mean “we” or non-banking financial company or Banks with whom the Company has tied up for loan sanction, which would sanction, process and grant the Loan to the Customer(s), through the Platform.
”Company” or ”we” shall mean MASSFIN LENDING SERVICES PRIVATE LIMITED, a company incorporated under the Companies Act, 2013 having its registered office at C/O. RENU, ALT TOWERS KOIKANDANAHALLI, SARJAPURA ROAD Bangalore KA 560035 ,India.
”Customer(s)” or ”you” or ”End-Users” shall mean any person who accesses, downloads, uses, views the Platform and the Services.
”Loan” shall mean the loan that you may apply for through the Platform and which is sanctioned and granted by LENDER, subject to the applicable terms and conditions of the Loan Agreement.
”Loan Agreement” shall mean the loan agreement to be executed between LENDER and the Customer(s) for granting the Loan whether in physical or electronic form as may be applicable from time-to-time.
”Online Stores” shall mean Windows Store, Android Google Play, iOS App store or any other online store or portal where the App will be made available by the Company to the End-Users, from time to time.
”Outstanding Amount(s)” shall mean the Loan, interests and charges due and payable by you to LENDER, on respective due date(s).
”Platform” shall mean the App and the Website collectively.
”Services” shall mean the services of granting, sanctioning, lending of short term loans, through the Platform by LENDER.
”Third Party Platforms” shall mean social networking platforms, such as Facebook, LinkedIn and other similar platforms.
”User Data” shall mean any data, information, documents or materials submitted with the Company prior to or during the use of the Services.
”Website” shall mean _____________________ managed and operated by the Company for the provision of Services.
SERVICES OFFERED
Through the Services, you may apply for the Loan, subject to the fulfilment of the eligibility criteria laid down in the Mobile App. You understand that the Company has been appointed by LENDER to collect, authenticate, track your location, verify and confirm the User Data, documents and details as may be required by LENDER to sanction the Loan. LENDER authorizes the Company to collect and store the User Data through the mobile application form (”Mobile Application Form”) available on the Platform. In order to avail the Services, you are required to register with the Company by logging in through your Third Party Platforms (”User Account”). During the Application process, you shall be required to share and upload the User Data on the Mobile Application Form. User Data shall include personal information including but not limited to your name, e-mail address, gender, date of birth, mobile number, photograph, mobile phone information including contact numbers, SMS and browsing history, data and login-in credentials of Third Party Platforms, financial information such as bank documents, salary slips, bank statements, PAN card, bank account no., data from Credit Information Companies, data required for Know Your Customer compliances, requirement and other relevant details (”Personal Information”). You agree that the Personal Information shall always be accurate, correct and complete. As part of the Services, you authorize us to import your details and Personal Information dispersed over Third Party Platforms. You understand and acknowledge that we may periodically request for updates on such Personal Information and we may receive such updated information from Third Party Platforms.
All transactions undertaken on your behalf by the Company will be on the basis of your express instructions/consent and will be strictly on a non-discretionary basis. You also authorise the Company to get your credit information report from one or more Credit Information Companies as decided by the Company from time to time. Once you verify and upload the User Data and/or other documents and details in the Mobile Application Form, the Company shall process the same. Upon the completion of the document verification by the Company, the Loan may be sanctioned by LENDER to you, subject to fulfilling eligibility criteria and other conditions set forth by LENDER for sanctioning the Loan. Thereafter, you are required to fill and upload the ECS/eNACH mandate form/ Cheque or any other document as may be required by LENDER . The Company may collect the physical documents including signatures on those documents required for sanctioning and processing the Loan. Upon the collection of documents by the Company, LENDER shall disburse the Loan subject to the terms and conditions of the Loan Agreement.
The sanctioned Loan shall be disbursed as per the mode provided in the Mobile Application Form. You are required to repay the Outstanding Amount(s) to LENDER, on the respective due date(s) mentioned in the Mobile Application Form.
You understand and acknowledge that the Company reserves the right to track your location (”Track”) during the provision of Services, and also in the event that you stop, cease, discontinue to use or avail the Services, through deletion or uninstallation of Mobile App or otherwise, till the event that your obligations to pay the Outstanding Amount(s) to LENDER exist. Deletion, uninstallation, discontinuation of our Services, shall not release you from the responsibility, obligation and liability to repay the Outstanding Amount(s).
You understand and acknowledge that you shall be solely responsible for all the activities that occur under your User Account while availing the Services. You undertake that the Company shall not be responsible and liable for any claims, damages, disputes arising out of use or misuse of the Services. By usage of the Services, you shall be solely responsible for maintaining the confidentiality of the User Account and for all other related activities under your User Account. The Company reserves the right to accept or reject your registration for the Services without obligation of explanation.
You understand and acknowledge that, you are solely responsible for the capability of the electronic devices and the internet connection, you chose to run the Platform. The Platform’s operation or the Services on your electronic device is subject to availability of hardware, software specifications, internet connection and other features and specifications, required from time to time.
- The User Data provided during the registration is stored by the Company for your convenience. You are not required to log-in to your User Account, every time, to use or access the Platform. You understand and acknowledge that by accepting these Terms, you authorize us to Track, fetch and use the User Data, including but not limited to your Personal Information, for the purpose of authentication and any updates with regards to your credentials.
LICENSE TERMS AND CONDITIONS
- License to use the App: In order to use the Services, you are required to download and install the App. For this purpose, you represent and warrant that you are of the age of majority as per the applicable laws to which you are subject to and are competent to understand, enter into, and comply with these Terms. The Company grants you a limited, non-exclusive, non-transferable, non-sub-licensable and revocable right to download, install and use the App. The App. is licensed and not sold to you and shall only be used as per these Terms.
- Scope of License: You may install, download, access or use the App through the Online Stores on/from mobile phones, tablets or any other electronic devices.
- Maintenance