Terms and Conditions

(Referring of Merchants to other Entities for Merchant Loan Application)

 

  1. One97 Communications Limited (“One97”) has entered into arrangement with several Financial Entities and other non-Financial Entities (collectively referred to as “Entity/Entities”) to facilitate loan offers to its Merchants. This Terms and Conditions are applicable for Merchants who have demonstrated their interest to One97 for availing Loan from such Entities either through sms, or phone call or through the One97 website or application or through any other means.
  1. Merchant who have demonstrated their interest for availing the loan, hereby give their absolute consent to One97 to share the following personal information about the Merchants to the Entities who shall be providing the loan facility to the Merchants:
  1. The Merchant provides an unconditional and unequivocal consent to One97 to share/access/store details related to CIBIL record/ Credit Information, as provided by the Merchant, with Entities/credit bureaus for the purpose of assessing the Merchant’s credit worthiness for the facilitation of loan. Merchant further agrees that the aforesaid authorization shall continue to enable One97/ Entities to access/share/store the CIBIL record/ Credit Information from time to time and the consent provided by the Merchant shall be valid as long as the Merchant has an active account with One97 or any other One97 affiliate group companies. The Merchant further agrees to authorize the Entities to access their CIBIL record and any other publicly available credit check records to assess the Merchants credit worthiness. The Merchant further agrees that the Merchant has read and understood the detailed terms and conditions as set out in https://cif-staging.paytm.in/kyc/tnc/get/5879 and hereby grants its consent in accordance with the format as specified in Exhibit A annexed hereto.
  2. 4. The Merchant agrees that the Entities may further call for additional documents from the Merchant to process their Loan request. The Merchant expressly waive the Do Not Call (DNC) / Do Not Disturb (DND) registrations done on his / her phone/mobile numbers and confirms that One97 and Entities can contact the Merchant through email or mobile number through calls or sms.
  3. The Merchant understands and agrees that One97 is not responsible for any services that might be provided by the Entities or any other third parties. You agree that the Entities, creditors or third parties that receive the information described above may use that information to contact you to process and disburse your credit application.
  1. The Merchants also authorize the Entities to share public and non-public loan related information including application, appraisal, disbursal, repayment, collection and whatsoever is relevant from time to time with One97 or any other One97 affiliate group companies.
  1. The Merchant gives consent to the Entities and One97 to provide marketing information through phone, text message, email, via your online account on Paytm Platform about products and services (including third party products and services) which the Entities and One97 think may benefit you and you to agree to receive such information.
  1. The Merchant shall keep One97, its directors and Employees indemnified against any regulatory action, damage or liability that they may suffer, incur or become subject to in connection therewith or arising from sharing and/or disclosing the aforesaid information.
  2. The Merchant agrees that the loan offer approval by the Entities shall be at the sole discretion of the Entities and One97 shall not be held liable for the same. The Merchant also understands and agrees that the loan is subject to credit policies of Entities and the application may be rejected or put on hold as per their internal policies and at the sole discretion of Entities. Further it is also understood and agreed by the Merchant, that One97 shall not be able to provide any loan offer to the Merchant or may hold or discontinue this service at its sole discretion.
  1. Upon the loan getting disbursed by the Entity to the Merchant ,the Merchant hereby acknowledges, agrees, understands and confirms that as the payments partner to the Entity, One97 is hereby authorized to comply with the written instructions given by Entity from time to time, without any further permission from the Merchant, for any support as required for the settlement/repayment of the loan facility granted by Entity, and that One97 shall not be required to verify any facts and figures stated by the Entity in such communication.
  1. Upon the loan getting disbursed by the Entity to the Merchant, the Merchant hereby irrevocably and unconditionally authorizes One97 to remit the collected amount pursuant to the Facility Agreement directly to a bank account as notified by Entity to One 97 from time to time. The Merchant also authorizes One97 to change the mode and frequency of payment of settlement amount due from One97 to the Merchant in order to ensure that One97 is able to deduct from the Settlement Amount any amount instructed by Entity. The Merchant hereby confirms that any request for change of the Merchant’s Bank Account by the Merchant in which settlement amount is remitted to by One97, shall not be accepted by One97 without prior consent of Entity until the total facility amount is fully repaid and Entity issues a no dues certificate to the Merchant.
  1. The Merchant agrees that the Merchant has read and understood the detailed terms and conditions as set out in loan-tnc .

 

EXHIBIT A

[Format of Consumer Instructions to be collected by One97]

To,

TransUnion CIBIL Limited

[Formerly known as Credit Information Bureau (India) Limited]

19th Floor, One IndiaBulls Tower-2A-2B, 

841 SenapatiBapat Marg,

Lower Parel,

Mumbai – 400 013

Sub: Grant of Consent

Dear Sirs,

In connection with submission of the application for my credit information offered by CIBIL (“Consumer Credit Information”) through [One97 Communications Limited] (referred to as the “Company”) and delivery of the Consumer Credit Information to the Company, I hereby acknowledge and agree to the following:

  1. The Company is my lawfully appointed agent and he / it has agreed to be my agent for the purposes, including, without limitation, to receive the Consumer Credit Information from TUCL on my behalf and use it in the manner consistent with the Agreement entered into between the Company and TUCL, and the Company has granted its consent for being appointed for the aforesaid purpose.
  2. I grant my unconditional consent to the Company to receive the Consumer Credit Information from TUCL on my behalf and use it in the manner consistent with the consistent with the Agreement entered into between the Company and TUCL, as the case may be, and the Company has granted its consent for being appointed for the aforesaid purpose. I hereby represent and acknowledge that: (a) I have carefully read the terms and conditions of the Agreement entered into between the Company and TUCL understood the same; or (b) the Terms of Understanding in relation to the use of the Consumer Credit Information has been agreed between me and the Company.
  3. I hereby expressly grant unconditional consent to, and direct, TUCL to deliver and / or transfer my Consumer Credit Information to the Company on my behalf.
  4. I shall not hold TUCL responsible or liable for any loss, claim, liability, or damage of any kind resulting from, arising out of, or in any way related to: (a) delivery of my Consumer Credit Information to the Company ; (b) any use, modification or disclosure by the Company of the contents, in whole or in part, of my Consumer Credit Information , whether authorized or not; (c) any breach of confidentiality or privacy in relation to delivery of my Consumer Credit Information to the Company ; (d) for any use made by the Company which is contrary to the Agreement entered into between the Company and TUCL
  5. I acknowledge and accept that: (a) TUCL has not made any promises or representations to me in order to induce me to provide my Consumer Credit Information or seek any consent or authorization in this regard; and (b) the implementation of the Agreement between TUCL and the Company is solely the responsibility of the Company.
  6. I agree that I may be required to record my consent / provide instructions electronically and in all such cases I understand that by clicking on the "I Accept" button below, I am providing "written instructions" to [COMPANY] authorizing [COMPANY] to obtain my Consumer Credit Information from my personal credit profile from TransUnion CIBIL LIMITED, [formerly known as Credit Information Bureau (India) Limited]]. I further authorize [COMPANY] to obtain such information solely to confirm my identity and display my Consumer Credit Information to me. Further in all such cases “By checking this box and clicking on the ‘Authorize button, I agree to the terms and conditions, acknowledge receipt of TUCL privacy policy and agree to its terms, and confirm my authorization for [COMPANY] to obtain my Consumer Credit Information .
  7. I understand that in order to deliver the product to me, I hereby authorize [COMPANY], to obtain my Consumer Credit Information from TUCL.
  8. By submitting this registration form, I understand that I am providing express written instructions for [COMPANY] to request and receive information about me from third parties, including but not limited to a copy of my consumer credit report and score from consumer reporting agencies, at any time for so long as I have an active [COMPANY] account. I further authorize [COMPANY] to retain a copy of my information for use in accordance with [COMPANY’S] Terms of Use and Privacy Policy.
  9. I UNDERSTAND THAT THE PRODUCT IS PROVIDED ON AN “AS-IS”, “AS AVAILABLE” BASIS AND TUCL EXPRESSLY DISCLAIMS ALL WARRANTIES, INCLUDING THE WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, AND NON-INFRINGEMENT.
  10. I shall not sue or otherwise make or present any demand or claim, and I irrevocably, unconditionally and entirely release, waive and forever discharge TUCL , its officers, directors, employees, agents, licensees, affiliates, successors and assigns, jointly and individually (hereinafter “Releasee”), from any and all manner of liabilities, claims, demands, losses, claims, suits, costs and expenses (including court costs and reasonable attorney fees) (“Losses”), whatsoever, in law or equity, whether known or unknown, which I ever had, now have, or in the future may have against the Releasee with respect to the submission of my Consumer Credit Information and / or my decision to provide TUCL L with the authority to deliver my Consumer Credit Information to the Company . I agree to defend, indemnify, and hold harmless the Releasee from and against any and all Losses resulting from claims made against TUCL L by third parties arising from and in connection with this letter.
  11. I agree that the terms of this confirmation letter shall be governed by the laws of India and shall be subject to the exclusive jurisdiction of the courts located in Mumbai in regard to any dispute arising hereof. TUCL is entitled to assign its rights hereunder to any third person without taking my prior written consent.

Yours faithfully,

Signature :____________________________

Name :____________________________

Address : ____________________________

CC: [Name of Company]

Address