TERMS OF SERVICES AND CONDITIONS
- Where such expression shall, unless repugnant to the context thereof, be deemed to include its respective representatives, administrators, employees, directors, officers, agents and their successors and assigns.
- The term ‘You’ &‘User’, shall mean any legal person or entity accessing or using the services provided on this Website/App, who is competent to enter into binding contracts, as per the provisions of the Indian Contract Act, 1872.
- The terms ‘We’, ‘Us’, ‘Our’ shall mean the Website/App and/or the Company, as the context so requires.
- The term ‘‘Services’ shall mean the business of providing a one stop online resource where Users can effortlessly avail different type of loan services, shop for consumer goods and buy, sell or rent properties under one brand name. The term ‘Services’ also encompasses additional features for registered Users (who create a profile on the Website/App) enabling them to (including but not limited to) create listings, provide feedback/express their opinions on listed items, view their phone contacts (if requisite permission is provided), endorse their own expertise to provide additional value/credibility to their feedback/opinions/content.
- The terms ‘Party’ &‘Parties’ shall respectively be used to refer to the User and the Company individually and collectively, as the context so requires.
- The headings of each section in these Terms are only for the purpose of organizing the various provisions under these Terms in an orderly manner and shall not be used by either Party to interpret the provisions contained herein in any manner. Further, it is specifically agreed to by the Parties that the headings shall have no legal or contractual value.
- The User unequivocally agrees that these Terms and the aforementioned Policy constitute a legally binding agreement between the User and the Company, and that the User shall be subject to the rules, guidelines, policies, terms, and conditions applicable to any service that is provided by the Website/App, and that the same shall be deemed to be incorporated into these Terms, and shall be treated as part and parcel of the same. The User acknowledges and agrees that no signature or express act is required to make these Terms and the Policy binding on the User, and that the User’s act of visiting the any part of the Website/App constitutes the User’s full and final acceptance of these Terms and the aforementioned Policy.
- The Company reserves the sole and exclusive right to amend or modify these Terms without any prior permission or intimation to the User, and the User expressly agrees that any such amendments or modifications shall come into effect immediately. The User has a duty to periodically check the terms and stay updated on its requirements. If the User continues to use the Website/App following such a change, the User will be deemed to have consented to any and all amendments/modifications made to the Terms. In so far as the User complies with these Terms, it is granted a personal, non-exclusive, non-transferable, revocable, limited privilege to access and use the Website/App. If the User does not adhere to the changes, You must stop using the Services at once. Your continuous use of the Services will signify your acceptance of the changed terms.
To fully avail the Services of the Website as mentioned hereinabove, with the extended features, and use of the, a one-time User registration is required to create a profile. You may access the Services by signing in as User with your phone number through which a One Time Password (OTP) will be sent to you, to be provided to the App/Website. You may also provide access to your phone contacts, for endorsement of your contacts with skills that they are known for, or familiar with. This information is used to provide you with relevant content listings which may be customized to their expertise/skills, demographics, interests, and geographical area. For Users applying for Loan from any Bank,user need to share/upload scan copies of few sensitive data such as signature image, e-KYC through UIDAI, Aadhaar based e-Signature and other Know Your Customer (KYC) documents like Pan & Aadhar card, address proof etc. ,Income documents ,property documents and related documents using upload function/Digi locker to proof that filled application details are true and accurate. In the application for user must fill all mandatory details such as full name, parentage, marital status, nationality, qualification, state of residence, city of residence, email address, date of birth, gender, property details, asset ,obligations ,reference contact details etc. to process or sanction the loan. We provide separate admin panel to every lender where they can access only their particular documents. After loan release or reject we don't keep any of sensitive data in our system.
Registration for this Website/App is available only to those above the age of 18 years, barring those “Incompetent to Contract” which inter alia include insolvents. If You are a minor and wish to use the Website/App, You may do so through Your legal guardian and the Company reserves the right to terminate Your account on knowledge of You being a minor and having registered on the Website/App or availing any of its Services.
Further, at any time during Your use of this Website/App, including but not limited to the time of registration, You are solely responsible for protecting the confidentiality of Your OTP and phone number, and any activity under the account shall be deemed to have been done by You. In the case that You provide Us with false and/or inaccurate details or We have reason to believe You have done so, We hold the right to permanently suspend Your account. You are responsible for safeguarding your OTP. You agree that you will not disclose your details to any third party and that you will take sole responsibility for any activities or actions under your account, whether or not you have authorized such activities or actions. You will immediately notify us of any unauthorized use of your account.
The Website or App contains a portal one stop online resource where Users can effortlessly avail different type of loan services, where User can compare offers from multiple bank/NBFCs, Check Eligibility, Emi etc and apply loan digitally using online upload function/Digi Locker. it's a paperless process to the maximum extent.
After successful registration of the Website Our page will navigate User to the “apply online page”. Where User can select their City, Profession, Type of Loan, Bank, Adding co borrower etc and page will navigate to fill up loan application form. After filling up application form User has to upload their KYC documents, Income documents, Property documents or related documents depending upon loan facility User have selected. After the upload is completed page will navigate to pay processing fees page via third party payment gateway, depending upon the type of loan. For Home and mortgage loan, User need to pay certain processing fees to the bank, for which amount will be displayed on the Website. After making the payment a message will be displayed on the screen with some system generated reference number for successful payments. Using this reference number User can track their loan any point of time by clicking on “track status” button on the Website. The Bank/ NBFC will be provided with a separate dashboard for accessing access all details of the Customer along with documents which have been uploaded and process towards sanction or raise queries for further requirement (if any). We take pride in taking the most difficult parts of the loan process on ourselves and guide Users through the process quickly towards disbursement.
The User represents and warrants that he/she is competent and eligible to enter into legally binding agreements and that he/she has the requisite authority to bind himself/herself to these Terms, as determined solely by the provisions of the Indian Contract Act, 1872 or any other applicable law in the respective country where the website is being used. The User may not use the Website/App if he/she is not competent to contract under the Indian Contract Act, 1872, or is disqualified from doing so by any other applicable law, rule or regulation currently in force.
The content on the Website/App is not entirely uploaded by the users and is a combination of contents uploaded by users and such contents uploaded by the company.
User Uploaded Content -
- Some of the text, graphics, user interfaces, visual interfaces, photographs, trademarks, logos, brand names, descriptions, sounds, music and artwork (collectively, "Content"), is generated/provided by the Users and We have no control and make no guarantees regarding the quality, the accuracy, integrity or genuineness of such Content.
- The Content providers are solely responsible for the integrity, authenticity, quality and genuineness of the content provided to the Website/App, and whilst reviews and comments by Users shall be made via the Website/App, the Website/App bears no liability whatsoever for any reviews or comments made by the User made in respect of any of the content not owned by the Company, on the Website/App.
- The user hereby grants to the company an irrevocable, perpetual, world-wide, non-exclusive, and royalty-free, assignable, sub-licensable and transferable licenses and rights to use including but not limited to copy, display, distribute, modify, translate, reformat, use for advertisements and other works, analyze, promote, and commercialize Your Content and any derivatives thereof for any purpose including partnerships with third parties and in any media existing now or in future.
Company Uploaded Content -
- All the Content displayed on the Website/App is subject to copyright and shall not be reused by any party (or third party) without the prior written consent of the Company and the copyright owner. The remaining Content on the Website/App is curated, and is not subject to action as it reflects a combination of personal opinions (not opinions of the Website/App) and information obtained from third-party sources, available in the public domain.
- Users shall not copy, adapt, and modify any content of the Company without written permission of the Company.
These Terms shall continue to form a valid and binding contract between the Parties, and shall continue to be in full force and effect until the User continues to access and use the Website/App.
A User may terminate his/her use of the Website/App at any time. The Company may terminate these Terms and close a User account at any time without notice and/or suspend or terminate a User’s access to the Website/App at any time and for any reason, in its sole discretion. Such suspension or termination shall not limit our right to take any other action against You that we consider appropriate.
It is also hereby declared that the Company may discontinue the Website/App without any prior notice.
The Company reserves the right, in its sole discretion, to unilaterally terminate the User’s access to the Services, or any portion thereof, at any time, without notice or cause. The Website/App also reserves the universal right to deny access to particular Users, to any/all of its Services without any prior notice/explanation in order to protect the interests of the Website/App and/or other visitors to the Website/App. The Website/App reserves the right to limit, deny or create different access to the Website/App and its features with respect to different User(s), or to change any of the features or introduce new features without prior notice. The User shall continue to be bound by these Terms, and it is expressly agreed to by the Parties that the User shall not have the right to terminate these Terms till the expiry of the same.
Registration on this Website/App is free for Users, and this includes accessing the Website/App and availing of all the Services.
However, We reserve the right to amend all charges relating to registration and availing of Services. In case that happens, Users will be intimated of the same, and it will be up to you to decide whether or not you will continue with services offered by us. Such changes are effective as soon as they are posted on the Website/App.
The User agrees and acknowledges that he/she is a restricted User of this Website/App, and that he/she:
- Agrees to provide genuine credentials during the process of registration on the Website/App. You shall not use a fictitious identity to register.We are not liable if the User has provided incorrect information.
- Agrees to ensure the mobile number provided during account Registration are valid at all times and shall keep your information accurate and up-to-date. The User can update his/her details anytime.
- Agrees that he/she are solely responsible for maintaining the confidentiality of your details. You agree to notify us immediately of any unauthorized use of your account. We reserve the right to close your account at any time for any or no reason.
- Authorizes the services (Website/App) to use, store or otherwise process Your shared information and all Your published Content such as listings, comments and reviews and ratings for marketing and promotional purposes.
- Is bound not to cut, copy, modify, recreate, reverse engineer, distribute, disseminate, post, publish or create derivative works from, transfer, or sell any information or obtained from the Website/App. Any such use/limited use of the Website/App will only be allowed with the prior express written permission of the Company.
- Agrees not to access (or attempt to access) the Website/App and/or the materials or services by any means other than through the interface provided by the Website/App. The use of deep-link, robot, spider or other automatic device, program, algorithm or methodology, or any similar or equivalent manual process, to access, acquire, copy or monitor any portion of the Website/App or its content, or in any way reproduce or circumvent the navigational structure or presentation of the Website/App, materials or any content, or to obtain or attempt to obtain any materials, documents or information through any means not specifically made available through the Website/App will lead to suspension or termination of the User’s access to the Website/App. The User acknowledges and agrees that by accessing or using the Website/App or any of the Services provided therein, it may be exposed to content that it may consider offensive, indecent or otherwise objectionable. The Company disclaims any and all liabilities arising in relation to such offensive content on the Website/App.
- The Website/App with respect to User content shall operate in the following manner:
- User Content - All Users of the loanferry.com website and of the Features bear sole and exclusive responsibility for content and contributions input by them and for activities undertaken by them. The publisher does not audit user-generated content or other user input prior to its publication in the internet. All Users bear sole and exclusive responsibility for creation of backup copies of content input by them. This also includes the software used by them. loanferry.com accepts no responsibility whatsoever for any loss of data.
- Ownership of Content - The user hereby grants to the company an irrevocable, perpetual, world-wide, non-exclusive, and royalty-free, assignable, sub-licensable and transferable licenses and rights to use including but not limited to copy, display, distribute, modify, translate, reformat, use for advertisements and other works, analyze, promote, and commercialize Your Content and any derivates thereof for any purpose including partnerships with third parties and in any media existing now or in future. Customer acknowledges and agrees that: (i) the company own all right, title and interest in and to the Content; and (ii) nothing in this Agreement will confer in Customer any right of ownership in the Content or any license to any Content other than the Rights expressly granted in this Agreement.The Website/App permits the User to post, or upload data/information as user comments or reviews, and the User undertakes to ensure that such material is not offensive or objectionable, and is in accordance with applicable laws. The User expressly agrees that any such material that is deemed to be objectionable/offensive may be removed from the Website/App immediately and without notice, and further that the User’s access to the Website/App may also be permanently revoked, at the sole discretion of the Company.
The User further undertakes not to:
- Abuse, harass, threaten, defame, disillusion, erode, abrogate, demean or otherwise violate the legal rights of any other person or entity;
- Engage in any activity that interferes with or disrupts access to the Website/App (or the servers and networks which are connected to the Website/App);
- Impersonate any person or entity, or falsely state or otherwise misrepresent his/her affiliation with a person or entity;
- Publish, post, disseminate, any information which 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 whatever under any law, rule or regulation currently in force; or unlawfully threatening or unlawfully harassing including but not limited to "indecent representation of women" within the meaning of the Indecent Representation of Women (Prohibition) Act, 1986;
- Post or share any image/file/data with the Company that infringes the copyright, patent or trademark of another person or legal entity;
- Upload or distribute files that contain viruses, corrupted files, or any other similar software or programs that may damage the operation of the Website/App;
- Download any file belonging to another User of the Website/App that the User is aware, or should reasonably be aware, cannot be legally distributed in such a manner;
- Probe, scan or test the vulnerability of the Website/App or any network connected to the Website/App, nor breach the security or authentication measures on the Website/App or any network connected to the Website/App. The User may not reverse look-up, trace or seek to trace any information relating to any other User of, or visitor to, the Website/App, or any other viewer of the Website/App, including any User account maintained on the Website/App not operated/managed by the User, or exploit the Website/App or information made available or offered by or through the Website/App, in any manner;
- Disrupt or interfere with the security of, or otherwise cause harm to, the Website/App, systems resources, accounts, passwords, servers or networks connected to or accessible through the Website/App or any affiliated or linked platforms;
- Collect or store data about other Users of the Website/App.
- Use the Website/App or any material or content therein for any purpose that is unlawful or prohibited by these Terms, or to solicit the performance of any illegal activity or other activity which infringes the rights of this Website/App or any other third party(ies);
- Violate any code of conduct or guideline which may be applicable for or to any particular service offered on the Website/App;
- Violate any applicable laws, rules or regulations currently in force within or outside India;
- Violate any portion of these Terms or the Policy, including but not limited to any applicable additional terms of the Website/App contained herein or elsewhere, whether made by amendment, modification, or otherwise;
- Threaten the unity, integrity, defense, security or sovereignty of India, friendly relations with foreign states, or public Order, or cause incitement to the commission of any cognizable offense, or prevent the investigation of any offense, or insult any other nation.
- Publish, post, or disseminate information that is false, inaccurate or misleading;
- Directly or indirectly offer, attempt to offer, trade, or attempt to trade, any item the dealing of which is prohibited or restricted in any manner under the provisions of any applicable law, rule, regulation or guideline for the time being in force.
- Commit any act that causes the Company to lose (in whole or in part) the services of its Internet Establishment ("ISP") or in any manner disrupts the services of any other supplier/service provider of the Company/Website/App;
- Engage in advertising to, or solicitation of, other Users of the Website/App to buy or sell any products or services not currently displayed on the Website/App. The User may not transmit any chain letters or unsolicited commercial or junk email/messages to other Users via the Website/App. It shall be a violation of these Terms to use any information obtained from the Website/App to harass, abuse, or harm another person, or to contact, advertise to, solicit, or sell to another User of the Website/App without the express prior written consent of the Company.
- The User hereby expressly authorizes the Company/Website/App to disclose any and all information relating to the User in the possession of the Company/Website to law enforcement or other government officials, as the Company may in its sole discretion, believe necessary or appropriate in connection with the investigation and/or resolution of possible crimes, especially those involve personal injury and theft/infringement of intellectual property. The User further understands that the Company/Website/App might be directed to disclose any information (including the identity of persons providing information or materials on the Website/ App) as necessary to satisfy any judicial Order, law, regulation or valid governmental request.
SUSPENSION OF USER ACCESS AND ACTIVITY
Notwithstanding other legal remedies that may be available to it, the Company may in its sole discretion limit the User’s access and/or activity by immediately removing the User’s access credentials either temporarily or indefinitely, or suspend/terminate the User’s association with the Website/App, and/or refuse to usage of the Website/App to the User, without being required to provide the User with notice or cause:
- If the User is in breach any of these Terms or the Policy;
- If the User has provided wrong, inaccurate, incomplete or incorrect information;
- If the User’s actions may cause any harm, damage or loss to the other Users or to the Company, at the sole discretion of the Company.
- Your use of the Website/App,
- Any Discussions or Messages or feedback or Content that you provide;
- Your violation of these Terms and Conditions;
- Your violation of any rights of another;
- Your conduct in connection with the Website/App;
- Your internal disputes with any third parties (advertisers/third party service providers);
- Your internal disputes amongst other Users; or
- You agree to fully cooperate in indemnifying Us at Your expense. You also agree not to reach a settlement with any party without Our consent.
- In no event shall the Company/Website/App be liable to compensate the User or any third party for any special, incidental, indirect, consequential or punitive damages whatsoever, including those resulting from loss of use, data or profits, whether or not foreseeable, and whether or not the Company/Website/App had been advised of the possibility of such damages, or based on any theory of liability, including breach of contract or warranty, negligence or other tortuous action, or any other claim arising out of or in connection with the User’s use of or access to the Website/App and/or the services or materials contained therein.
LIMITATION OF LIABILITY
- The Founders/ Promoters/ Associated people of the Website/App are not responsible for any consequences arising out of the following events:
- If the Website/App is inoperative/non-responsive due to any connectivity errors associated with the internet connection such as but not limited to slow connectivity, no connectivity, server failure.
- if the User has fed incorrect information or data or for any deletion of data
- if any third party has fed incorrect information or data or for any deletion of data
- if there is any dispute with any third-party service provider
- if there is undue delay or inability to communicate through email
- if there is a failure in the functioning of any other service provided by the Website/App.
- The Website/App accepts no liability for any errors or omissions, whether on behalf of itself or third parties, or for any damage caused to the User, the User’s belongings, or any third party, resulting from the use or misuse of the Website/App or any service availed of by the User through the Website/App. The service and any Content or material displayed on the service is provided without any guarantees, conditions or warranties as to its accuracy, suitability, completeness or reliability. The Website/App will not be liable to you for the unavailability or failure of the Website/App.
- Users may be held legally responsible for damages suffered by other Users, the Website/App or any third party as a result of legally actionable or defamatory comments, remarks, or other information or content posted to the Website/App.
- Users are to comply with all laws applicable to them or to their activities, and with all Policies, which are hereby incorporated into this Agreement by reference.
- The Website/App expressly excludes any liability for any loss or damage that was not reasonably foreseeable by the Website/App and which is incurred by you in connection with the Website/App, including loss of profits; and any loss or damage incurred by you as a result of your breach of these terms.
- To the fullest extent permitted by law, the Website/App shall not be liable to You or any other party for any loss or damage, regardless of the form of action or basis of any claim. You acknowledge and agree that your sole and exclusive remedy for any dispute with us is to terminate your use of the Website/App.
INTELLECTUAL PROPERTY RIGHTS
Unless expressly agreed to in writing, nothing contained herein shall give the User a right to use any of the Website/App’s trade names, trademarks, service marks, logos, domain names, information, questions, answers, solutions, reports and other distinctive brand features, save according to the provisions of these Terms. All logos, trademarks, brand names, service marks, domain names, including material, designs, and graphics created by and developed by the Website/App and other distinctive brand features of the Website/App are the property of the Company. Furthermore, with respect to the Website/App created by the Company, the Company shall be the exclusive owner of all the designs, graphics and the like, related to the Website/App.
The User may not use any of the intellectual property displayed on the Website/App in any manner that is likely to cause confusion among existing or prospective Users of the Website/App, or that in any manner disparages or discredits the Company/Website/App, to be determined in the sole discretion of the Company.
The User is aware all intellectual property, including but not limited to copyrights, relating to said services resides with the owners, and that at no point does any such intellectual property stand transferred from the aforementioned creators to the Company, or to any other User. The User is aware that the Company/the Website does not own any of the intellectual property relating to the independent content displayed on the Website/App, apart from originally created graphics and specified content.
The User is further aware that any reproduction or infringement of the intellectual property of the aforementioned owners by the User will result in legal action being initiated against the User by the respective owners of the intellectual property so reproduced/infringed upon. It is agreed to by the Parties that the contents of this Section shall survive even after the termination or expiry of the Terms and/or Policy.
DISCLAIMER OF WARRANTIES AND LIABILITIES
- The User agrees and undertakes that they are accessing the Website/App at his/her sole risk and are that it is using his/her best and prudent judgment before availing any service listed on the Website/App, or accessing/using any information displayed thereon.
- The User agrees that any kind of information, resources, activities, recommendations obtained/availed from Website/App, written or oral, will not create any warranty and the Website/App disclaims all liabilities resulting from these. You are solely responsible for your communication/interaction with other Users on the Website/App and the Website/App doesn’t make any warranty about the conduct of Users on the Website/App.
- The Company/Website/App does not guarantee that the functions, products and services contained in the Website/App will be uninterrupted or error-free, or that the Website/App or its server will be free of viruses or other harmful components, and the User hereby expressly accepts any and all associated risks involved with the User’s use of the Website/App.
- The Company/Website/App does not provide loan on its own. Loan Sanction /Rejection/Disbursement is sole discretion of respective bank/NBFCs. We don't have any persuasion to any organization to sanction or reject the loan.
- Any DND by the user will be overruled when users are availing services through LoanFerry.
- The Processing fees is not refundable by LoanFerry in the case of loan rejection to the User.
It is further agreed to by the Parties that the contents of this Section shall survive even after the termination or expiry of the Terms and/or Policy.
Neither the Company nor the Website/App shall be liable for damages for any delay or failure to perform its obligations hereunder if such delay or failure is due to cause beyond its control or without its fault or negligence, due to Force Majeure events including but not limited to acts of war, acts of God, earthquake, riot, fire, festive activities sabotage, labor shortage or dispute, internet interruption, technical failure, breakage of sea cable, hacking, piracy, cheating, illegal or unauthorized.
DISPUTE RESOLUTION AND JURISDICTION
It is expressly agreed to by the Parties hereto that the formation, interpretation and performance of these Terms and any disputes arising there from will be resolved through a two-step Alternate Dispute Resolution (“ADR”) mechanism. It is further agreed to by the Parties that the contents of this Section shall survive even after the termination or expiry of the Terms and/or Policy.
- Mediation: In case of any dispute between the parties, the Parties will attempt to resolve the same amicably amongst themselves, to the mutual satisfaction of all Parties. In the event that the Parties are unable to reach such an amicable solution within thirty (30) days of one Party communicating the existence of a dispute to any other Party, the dispute will be resolved by arbitration, as detailed herein below;
- Arbitration: In the event that the Parties are unable to amicably resolve a dispute by mediation, said dispute will be referred to arbitration by a sole arbitrator to be appointed by the Company, and the award passed by such sole arbitrator will be valid and binding on all Parties. The Parties shall bear their own costs for the proceedings, although the sole arbitrator may, in his/her sole discretion, direct either Party to bear the entire cost of the proceedings. The arbitration shall be conducted in English, and the seat of Arbitration shall be the city of Bangalore.
The Parties expressly agree that the Terms, Policy and any other agreements entered into between the Parties are governed by the laws, rules and regulations of India.
Any and all communication relating to any dispute or grievance experienced by the User may be communicated to the Company by the User writing an email to email@example.com.
- Entire Agreement: These Terms, read with the Policy form the complete and final contract between the User and the Company with respect to the subject matter hereof and supersedes all other communications, representations and agreements (whether oral, written or otherwise) relating thereto.
- Waiver: The failure of either Party at any time to require performance of any provision of these Terms shall in no manner affect such Party's right at a later time to enforce the same. No waiver by either Party of any breach of these Terms, whether by conduct or otherwise, in any one or more instances, shall be deemed to be or construed as a further or continuing waiver of any such breach, or a waiver of any other breach of these Terms.
- Severability: If any provision/clause of these Terms is held to be invalid, illegal or unenforceable by any court or authority of competent jurisdiction, the validity, legality and enforceability of the remaining provisions/clauses of these Terms shall in no way be affected or impaired thereby, and each such provision/clause of these Terms shall be valid and enforceable to the fullest extent permitted by law. In such case, these Terms shall be reformed to the minimum extent necessary to correct any invalidity, illegality or unenforceability, while preserving to the maximum extent the original rights, intentions and commercial expectations of the Parties hereto, as expressed herein.
- Contact Us: If you have any questions about this Agreement, the practices of the Website/App, or your experience with the Service, you can e-mail us at firstname.lastname@example.org.