Terms and Conditions
This document is published in accordance with the provisions of Rule 3(1) of the Information Technology (Intermediaries Guidelines) Rules, 2011 which require the publishing of the rules and regulations governing the use and access of and the PODS Services (defined below), or any other portal as may be launched by PODS Finserv Private Limited (www.podsfinserv.com)).
I. INTRODUCTION
1.1 These terms and conditions (“T&C”), and all applicable policies which are herein incorporated by way of reference govern your rights and obligations as a user of the services provided by PODS Finserv (defined below) to Applicant (defined below), while accessing and using the PODS Finserv website and/or availing the PODS Finserv Services as may be rendered by PODS Finserv Private Limited, a company incorporated under the laws of India and having its registered office at B 902, Shailesh Towers, Plot No.12, Sector 19A, Nerul, Navi Mumbai- 400706 (“PODS Finserv”). You agree and acknowledge that the PODS Finserv Services may be provided through its partner merchants and/or third-party banks or financial institutions.
1.2 By availing the PODS Finserv Services, you agree to be bound by these T&C, including any additional guidelines and future modifications issued by PODS Finserv from time to time. If at any time you do not agree with these T&C, you shall immediately cease your use of such PODS Finserv Services. PODS Finserv reserves the right to amend these T&C, from time to time, without notice to you by posting revised T&C on the PODS Finserv website.
1.3 Your access to and use of the PODS Finserv website and the PODS Finserv Services are conditional upon your acceptance of and continuous compliance with these T&C at all times. By accessing, browsing and/or using the PODS Finserv website and/or availing any of its services, including PODS Finserv Services, you agree to be bound by these T&C, including all rules, guidelines, policies, terms and conditions applicable to the PODS Finserv Services being provided by PODS Finserv (“Policies”), as may be modified by PODS Finserv from time to time, which shall be deemed to be incorporated in these T&C by reference, unconditionally and at all times. PODS Finserv shall have the sole right to change, modify, add or remove these T&C or any of its Policies relating to the provisions of access to the PODS Finserv website and PODS Finserv Services, at any time without any prior written notice or intimation. It is hereby clarified that you shall be responsible for reviewing the T&C and Policies on the PODS Finserv website periodically and keep yourself updated with any change in the T&C and Policies.
II. ELIGIBILITY
2.1 The access to the PODS Finserv website and/or the PODS Finserv Services is only available to persons who are competent to enter into legally binding contracts under the Indian Contract Act, 1872. Any person who shall be considered as incompetent to contract as per the provisions of the Indian Contract Act, 1872, including minors, un-discharged insolvents, etc., are not eligible to use the PODS Finserv website and/or the PODS Finserv Services.
2.2 It is hereby clarified that PODS Finserv shall provide the PODS Finserv Services to only those applicants who are both competent to enter into legally binding contracts, as provided above, and qualify under the internal policy(s) for the same determined solely by PODS Finserv from time to time (“PODS Finserv applicant”/ “you”/ “your”). PODS Finserv shall have the sole right to change, modify, add or remove, in whole or in part, its internal policy(s) in relation to the provision of the PODS Finserv Services of PODS Finserv, at any time without any prior written notice or intimation to the Applicant and PODS Finserv shall have the right to not entertain any requests in relation to the same, from the Applicant towards such PODS Finserv Services, without assigning any reason.
III. PODS FINSERV SERVICES
3.1 PODS Finserv provides to the Applicant payment facilitation services for purchase of product or service on specific merchant websites or outlets (“Partner Merchant”), wherein the Applicant shall be provided with an option of making a deferred payment in relation to the purchase of products or services from the Partner Merchant, subject to a maximum credit of INR [•]. The credit facility, subject to a maximum of INR [•] may be provided by the Partner Merchant and/or third-party banks or financial institutions, as may be determined by PODS Finserv, in its sole discretion. The payment of the purchase price of the products, subject to maximum amount of INR [•] (“Loan Amount”) shall be made by the Applicant , to PODS Finserv, who is authorised by the Partner Merchant and/or third party banks or financial institutions to collect the Loan Amount, on behalf of the Partner Merchant and/or third party banks or financial institutions, as the case may be and the User shall be liable to pay to PODS Finserv the Loan Amount/s in the manner specified by PODS Finserv (“PODS Finserv Services”). By availing the PODS Finserv Services, you authorize PODS Finserv or its authorized representatives to collect the Loan Amount from you, on behalf of the Partner Merchant and process, facilitate and remit the payments to the Partner Merchant selling the products.
3.2 Once the User becomes eligible to avail PODS Finserv Services and is selected and approved by PODS Finserv, the PODS Finserv Services option for making payments shall be enabled by PODS Finserv for such Applicant on the Partner Merchant website. Upon selection of the PODS Finserv Service option on the Partner Merchant’s platform by the Applicant, the Applicant will be required to complete the transaction(s) through one of the methods of authorization prescribed by PODS Finserv from time to time, including but not limited to entering the one-time password issued by PODS Finserv to such Applicant to complete the transaction (“Authentication Process”).
3.3 The details pertaining to the Authentication Process shall be issued by PODS Finserv and shall be sent to the mobile number and/or email address of the Applicant, registered with PODS Finserv. You hereby consent and agree that any pin, password etc. issued by PODS Finserv in relation to the Authentication Process and any other directions and orders issued to you by PODS Finserv as well as any information exchanges by you with PODS Finserv in relation to the Authentication Process, shall be used or undertaken, as the case may be, only by you, that they shall not be disclosed by you to any third party and that you shall take all such steps, including deleting/destroying all records of pin, password etc. issued by PODS Finserv in relation to the Authentication Process in any form, to ensure that such unauthorised disclosure of the same is prevented. You agree to immediately notify PODS Finserv of any unauthorized use of your pin, password etc. issued by PODS Finserv in relation to the Authentication Process or any other breach of security. It is hereby clarified that PODS Finserv will not be liable for any loss, damage or other liability arising from your failure to comply with these provisions or from any unauthorized access to or use of the pin, password etc. issued by PODS Finserv in relation to the Authentication Process. In the event of any dispute between 2 (Two) or more parties as to ownership of a particular OTP or any other form of authentication (as may be specified by PODS Finserv), you agree that PODS Finserv will be the sole arbiter of such dispute, at its sole discretion and that PODS Finserv’s decision (which may include termination or suspension of any account subject to dispute) will be final and binding on all parties.
3.4 You hereby acknowledge and agree that you shall be solely responsible for immediately notifying PODS Finserv of any change in the email address and/or mobile number registered with PODS Finserv. You further acknowledge and agree that you shall be solely liable for any losses, disputes and/or fraudulent transactions undertaken on a Partner Merchant platform due to your failure in complying with this Clause or any other reason and PODS Finserv shall have no liabilities in this regard.
3.5 You hereby acknowledge that you are solely responsible for the transactions / payments made to the Partner Merchant for the products/ services purchased by you, by entering the pin, password etc. issued by PODS Finserv to you in relation to the Authentication Process. You consent and agree to not revoke such transactions at any time. You hereby acknowledge that other than pin, password etc. issued by PODS Finserv in relation to the Authentication Process, entered by you for a transaction, PODS Finserv has no obligation, responsibility or liability to verify the transactions authenticated and/or authorised by you or your payment instructions.
3.6 It is hereby clarified that all products or services made available to an Applicant through the Partner Merchant website are provided on an ‘as is’ and ‘as available’ basis, without any representations and warranties, express or implied by PODS Finserv. PODS Finserv does not make any representations pertaining to the information, content, products/services included on or delivery of the products/services or otherwise made available to an Applicant through the Partner Merchant. You hereby further agree, acknowledge and confirm that PODS Finserv is not responsible in any way for the product/services purchased by you from the Partner Merchant and it is explicitly agreed by you that PODS Finserv will not in any way, under any circumstances whatsoever, be responsible or liable for products/services purchased by you from the Partner Merchant and/or in relation to any issue and/or dispute thereof. You hereby further agree, acknowledge and confirm that under the aforesaid circumstances your only recourse will be against the Partner Merchant and PODS Finserv will not be made a party to any such issue and/or dispute between yourself and the Partner Merchant.
3.7 PODS Finserv shall have the right to not process a transaction through the PODS Finserv Services, if PODS Finserv in its sole discretion determines that a transaction undertaken by a Applicant is not authorised by such Applicant or the transaction is not genuine or suspicious.
3.8 You hereby consent and agree to comply with guidelines, instructions, requests, etc., as maybe made by PODS Finserv or a Partner Merchant or third-party banks or financial institutions, as the case may be, in relation to the PODS Finserv Services.
3.9 You hereby acknowledge and agree that PODS Finserv shall not be liable for failure of any transaction undertaken on the Partner Merchant platform for any reason whatsoever including but not limited to non-performance or omission or commission on the part of the Partner Merchant, deficiency of service and/or products delivered, technical errors on the Partner Merchant platform. You further acknowledge that PODS Finserv shall not be responsible, in any manner whatsoever, for any loss incurred by you for a failed / incomplete transaction undertaken by you using PODS Finserv Services.
IV. PAYMENT
4.1 The Applicant hereby undertakes and agrees to pay the Loan Amount with from the date of receipt of Invoice in accordance with these T&C. The Applicant hereby undertakes and agrees to pay the Loan Amount within the timelines specified by PODS Finserv.
4.2 The Applicant shall have the option to pay the Loan Amount through the payment methods specified by PODS Finserv such as IMPS, NEFT, debit/credit card and net-banking. You hereby further agree to not use any payment method other than the payment methods prescribed by PODS Finserv, for paying the Loan Amount and/or any other amounts due and outstanding to PODS Finserv.
4.3 The Applicant hereby acknowledges and agrees that the due date specified in the Invoice for payment of the Loan Amount is the date by which EMI Amount should be credited to PODS Finserv’ s account. You hereby agree and acknowledge that you shall be solely liable for any delay caused in payment of the EMI Amount, due to the time taken for settlement and clearing of the Loan Amount from the account of the Applicant to the PODS Finserv account. In this regard, you hereby agree and acknowledge that in the event the Loan Amount is not credited to PODS Finserv’ s account by the payment date specified in the Invoice, PODS Finserv shall have the right to impose of penalty of upto 18 % per day of the Loan Amount for each day till such Loan Amount is credited to PODS Finserv’ s account. You hereby undertake that you will not raise any objections against any imposition of penalty. PODS Finserv may at its sole discretion waive such penalty imposed on the Applicant.
4.4 In the event the Applicant fails to make the payments on or before the EMI due date, the Applicant shall be issued a written reminder within [•] days post the due date. The reminders shall be sent to your email address and/or mobile number. In the event you fail to make the payments within the period specified in such written reminder, PODS Finserv shall send you a final intimation by email informing you regarding the amounts so due and the steps PODS Finserv shall take to realise the same from you on behalf of the Partner Merchant (“Final Payment Reminder”).
4.5 You hereby consent and agree that PODS Finserv, acting on behalf of the Partner Merchant, shall realise or set-off the Loan Amount from you after sending the Final Payment Reminder, by the following method –
(i) Engaging any person(s), at your sole risk and cost, to collect the amounts due from you.
4.6 You hereby acknowledge and agree that PODS Finserv may share any and/or all the information provided by you to PODS Finserv to any service provider, Credit Bureau, Financial Institution and/or Governmental instrumentality for the purpose of providing the PODS Finserv Services, including but not limited to realise the amounts due and payable to PODS Finserv by you/a Applicant in relation to the PODS Finserv Services. Further, PODS Finserv may share any and/or all the information provided by you to PODS Finserv to any third party including any agency or bureau in relation to your default payment status and default in meeting your obligations in the manner contemplated in these T&C.
V. SUBMISSION OF PERSONAL INFORMATION
5.1 You agree that the personal information such as name, address, contact number etc. (“Personal Information”) you provide to PODS Finserv upon registration and at the time of availing the PODS Finserv Services and at all other times will be true, accurate, current and complete. You agree to maintain and update the Personal Information and to keep the Personal Information true, accurate and complete.
5.2 If you provide any Personal Information that is untrue, inaccurate, not current or complete, PODS Finserv has the right to suspend or terminate your Loan account created on the PODS Finserv website and refuse any and/or all use, either present or future, of the services of PODS Finserv, including PODS Finserv Services, or any portion thereof. It is hereby clarified that PODS Finserv shall not be liable in any manner whatsoever for any loss or damage incurred by an Applicant or any dispute initiated by or against an Applicant, due any untrue, inaccurate, not current or incomplete Personal Information provided by such Applicant.
5.3 You hereby agree that the Personal Information provided by you to PODS Finserv at the time of registration on the PODS Finserv website shall be collected, stored and used by PODS Finserv for providing you efficient access to the PODS Finserv website and PODS Finserv Services. You hereby agree, acknowledge and grant your consent to PODS Finserv to share the contact information and other personal details, as may have been disclosed by the Applicant to the Partner Merchants and third-party service providers engaged by PODS Finserv and you hereby confirm that you have no objection to receive promotional offers, deals, marketing material, promotional material and any other form of communications from PODS Finserv and the Partner Merchant.
5.4 It may be noted that PODS Finserv handles all such information including Personal Information in accordance with the provisions of the applicable law as may be applicable from time to time and only for the duration lawfully required, thereunder.
5.5 You hereby specifically agree that you shall, at all times, comply with the requirements of the Information Technology Act, 2000 as also rules, regulations, guidelines, byelaws and notifications made thereunder.
5.6 You hereby authorise PODS Finserv to request for additional information/documentation, at any time, in order to verify that the information provided by you is accurate and complete. In order to allow your continued and uninterrupted use of the PODS Finserv Services, PODS Finserv shall request from time to time, for additional information/documentation from you, in order to be in conformity with know your customer (KYC) requirements as per applicable laws. You agree to provide PODS Finserv with such additional information/documentation, as is required by PODS Finserv at any time, to verify the accuracy and completeness of the information provided by you and its conformity with the said KYC requirements.
VI. LIMITATION OF LIABILITY
6.1 The Applicant acknowledges that PODS Finserv’ s liability with respect to the PODS Finserv Services shall be limited and shall be as per these T&C. PODS Finserv reserves the right, in its sole discretion and without assigning any reason, to exclude certain Applicant from availing the PODS Finserv Services in the future.
6.2 The Applicant agrees and confirms that the sole and exclusive responsibility and obligation of PODS Finserv is to ensure that the PODS Finserv Services are being provided in compliance of all applicable laws, rules and regulations.
6.3 The Applicant agrees and confirms that the PODS Finserv Services are being provided by PODS Finserv on a best efforts basis with all efforts to keep these valid and subsisting. PODS Finserv shall not in any manner be liable to an Applicant for failure or delay in providing the PODS Finserv Services.
VII. TERMINATION
PODS Finserv may forthwith terminate and/or suspend, in whole or in part, these T&C, the Policies and/or the PODS Finserv Services provided hereunder, for any reason including for reasons of breach of these T&C and/or any of the Policies on the PODS Finserv website. Your sole right to terminate these T&C and the Policies is by deleting your PODS Finserv Account, subject to your paying the amounts due to PODS Finserv under the terms of this T&C.
VIII. DISPUTE RESOLUTION
Any dispute or claim relating to the PODS Finserv Services, its enforceability or its termination under these T&C and/or the Policies shall be governed by the Arbitration and Conciliation Act, 1996, by a sole arbitrator appointed by PODS Finserv. The arbitration proceedings shall be held in English language at [Mumbai]. The courts at [Mumbai] shall have exclusive jurisdiction over any disputes relating to the subject matter herein.
IX. NOTICES
All notices, requests, demands, waivers, complaints, queries and other communications required or permitted to be given hereunder in relation to the PODS Finserv Services under these T&C, shall be emailed at [•], if to PODS Finserv and if to Applicant, it shall be to the address registered with PODS Finserv. Any other notices, requests, demands, waivers, complaints, queries and other communications arising out of any Partner Merchant’s acts or omissions whatsoever, including but not limited to deficiency of service, quality, merchantability of products or services, shall be resolved between the Applicant and the Partner Merchant only and PODS Finserv shall have no responsibility or liability whatsoever in this regard.
X. GENERAL TERMS
10.1 These T&C and/or Policies may be varied, amended or modified, in whole or in part, by PODS Finserv at any time without notice to the Applicant. The last amended version shall be available on the PODS Finserv website at all times.
10.2 These T&C constitute a principal-to-principal relationship between PODS Finserv and the Applicant and do not attempt to create any agency relationship. The PODS Finserv Services are being rendered by PODS Finserv as an independent entity and nothing contained herein shall be deemed to create any association, partnership, joint venture or relationship of principal and agent or master and servant, or employer and employee between PODS Finserv and the Applicant hereto or any affiliates or subsidiaries thereof or to provide either PODS Finserv or the Applicant with the right, power or authority, whether express or implied to create any such duty or obligation on behalf of the other party, i.e. either PODS Finserv or the Applicant .
10.3 PODS Finserv may assign, in whole or in part, the benefits or obligations of these T&C to its associates of affiliates of other group company, or any other company, in circumstances including but not limited to pursuant to a restructuring or re-organization or demerger of its organization or operations causing a change in management or something of the nature. PODS Finserv shall not require approval or consent of the Applicant, it can at its discretion provide an intimation of such assignment to the Applicant. However, the Applicant shall not assign, in whole or in part, the benefits or obligations of these T&C, without the prior written permission of PODS Finserv.
10.4 PODS Finserv shall not be liable for its failure to perform under these T&C as a result of occurrence of any force majeure events like acts of God, fire, wars, sabotage, civil unrest, labour unrest, action of statutory authorities or local or central governments, change in laws, rules and regulations, affecting the performance of PODS Finserv, payment gateways or Partner Merchant.
10.5 Unless otherwise expressly stated, failure to exercise or delay in exercising a right or remedy, hereunder shall not constitute a waiver of the right or remedy or a waiver of any other rights or remedies, and no single or partial exercise of any right or remedy, hereunder shall prevent any further exercise of the right or remedy or the exercise of any other right or remedy.
10.6 The terms and provisions of these T&C, by their nature and content are intended to survive the performance hereof by any or all parties hereto shall so survive termination.
10.7 If any provision, hereunder becomes, in whole or in part, invalid or unenforceable but would be valid or enforceable if some part of that provision was deleted, that provision shall apply with such deletions as may be necessary to make it valid. If any court/tribunal of competent jurisdiction holds any of the provisions, hereunder unlawful or otherwise ineffective, the remainder shall remain in full force and the unlawful or otherwise ineffective provision shall be substituted by a new provision reflecting the intent of the provision so substituted.
10.8 It is agreed and clarified that the arrangement set out by these T&C between PODS Finserv and the Applicant is on a non-exclusive basis.
