- TripMoney Fintech Solutions Private Limited (hereinafter “TRIPMONEY”) recognizes the importance of privacy of its users and also of maintaining confidentiality of the information provided by its users as a responsible data controller and data processer.
- Please note that the data shared with TRIPMONEY shall be primarily processed in India and such other jurisdictions where a third party engaged by TRIPMONEY may process the data on TRIPMONEY’s behalf. By agreeing to this policy, you are providing TRIPMONEY with your explicit consent to process your personal information for the purpose(s) defined in this policy. The data protection regulations in India or such other jurisdictions mentioned above may differ from those of your country of residence.
- If you have any concerns in the processing your data and wish to withdraw your consent, you may do so by writing to the following email id: email@example.com. However, if such processing of data is essential for us to be able to provide product(s) or service(s) to you, then we may not be able to provide you the product(s) or service(s) after your withdrawal of consent. For instance, if you want to apply for credit card, then certain personal information of yours like contact details, identity and address proof may have to be shared by us with our business partners with whom you wish to apply for a credit card, and they may further process this information for processing your credit card application. Such sharing and processing of information may extend to technology partner of such business partners responsible for the application programming interface connectivity between our TRIPMONEY and business partner platforms.
- A withdrawal of consent by you for us to process your information may:
- severely inhibit our ability to serve you properly and in such case, we may have to refuse the booking altogether, or
- unreasonably restrict us to service your booking (if a booking is already made) which may further affect your trip or may compel us to cancel your booking
USERS OUTSIDE THE GEOGRAPHICAL LIMITS OF INDIA
- The information as detailed below is collected for us to be able to provide the services chosen by you and also to fulfill our legal obligations as well as our obligations towards third parties as per our User Agreement.
- "Personal Information" of User shall include the information shared by the User and collected by us for the following purposes:
TYPE OF INFORMATION WE COLLECT AND ITS LEGAL BASIS
- Information which you provide while subscribing to or registering on the Website, including but not limited to information about your personal identity such as name, gender, etc., your contact details such as your email address, postal addresses, telephone (mobile or otherwise) and/or fax numbers. The information may also include information such as your banking details (including credit/debit card), identification and address proof details and any other information relating to your income and/or lifestyle; billing information payment history etc. (as shared by you).
- Other information: We many also collect some other information and documents including but not limited to:
- Transactional history (other than banking details) about your e-commerce activities, buying behavior.
- Your usernames, passwords, email addresses and other security-related information used by you in relation to our Services.
- Data either created by you or by a third party and which you wish to store on our servers such as image files, documents etc.
- Data available in public domain or received from any third party including social media channels, including but not limited to personal or non-personal information from your linked social media channels (like name, email address, friend list, profile pictures or any other information that is permitted to be received as per your account settings) as a part of your account information.
- Information pertaining any other third party you registered through TRIPMONEY account. In such case, you must confirm and represent that each of the person who you have registered thorough your TRIPMONEY account has been made, has agreed to have the information shared by you disclosed to us and further be shared by us with the concerned service provider(s).
- If you request TRIPMONEY to share your lead with business partner, then copies of your PAN card, GSTN registration, passport, adhaar card, bank statements, originals of the filled in application forms, photographs, and any other information which may be required by the respective business partner to process your credit card or loan application.
Registration on the Website:
- The Personal Information collected maybe used in the following manner:
- While applying for a credit card/loan application or purchasing insurance services, we may use Personal Information including, banking details which include accountholder name, credit/debit card number (in encrypted form) with expiration date, banking details, etc. as shared and allowed to be stored by you. We may also use the information of travelers list as available in or linked with your account. This information is presented to the User at the time of applying or purchasing the products and services to enable you to file your application or purchase insuarnce.
- We may also use your Personal Information for several reasons including but not limited to:
- confirm your applications with respective business partners;
- keep you informed of the application status;
- send confirmations of your applications either via sms or Whatsapp or any other messaging service;
- send any updates or changes to your application(s);
- allow our customer service to contact you, if necessary;
- customize the content of our website, mobile site and mobile app;
- request for reviews of products or services or any other improvements;
- send verification message(s) or email(s);
- validate/authenticate your account and to prevent any misuse or abuse.
- contact you on your birthday/anniversary to offer a special gift or offer.
- We value opinions and comments from our Users and frequently conduct surveys, both online and offline. Participation in these surveys is entirely optional. Typically, the information received is aggregated, and used to make improvements to Website, other Sales Channels, products, services and to develop appealing content, features and promotions for members based on the results of the surveys. Identity of the survey participants is anonymous unless otherwise stated in the survey.
- Marketing promotions, research and programs help us to identify your preferences, develop programs and improve user experience. TRIPMONEY frequently sponsors promotions to give its Users the opportunity to win great prizes. Personal Information collected by us for such activities may include contact information and survey questions. We use such Personal Information to notify contest winners and survey information to develop promotions and product improvements. As a registered User, you will also occasionally receive updates from us about banking offers in your area, special offers, new TRIPMONEY services, other noteworthy items (like savings and benefits on credit card, loans and other banking services) and marketing programs.
- In addition, you may look forward to receiving periodic marketing emails, newsletters and exclusive promotions offering special deals.
- From time to time we may add or enhance products and services available on the Website. To the extent these products and services are provided, and used by you, we will use the Personal Information you provide to utilise the product(s) and service(s) requested. For example, if you email us with a question, we will use your email address, name, nature of the question, etc. to respond to your question. We may also store such Personal Information to assist us in making the Website the better and easier to use for our Users.
- TRIPMONEY may from time to time launch reward programs by way of which users may stand to win rewards. We may use your Personal Information to enroll you in the rewards program and status of the same will be visible each time you log in to the Website. Depending on the reward program, each time you win a reward, TRIPMONEY may share your Personal Information with a third party that will be responsible for fulfilling the reward to you. You may however choose to opt out of such reward programs by writing to us. For various purposes such as fraud detection, offering bookings on credit etc., we at times may verify information of customers on selective basis, including their credit information. Additionally, TRIPMONEY may share your Personal Information, anonymized and/ or aggregated data to a third party that TRIPMONEY may engage to perform certain tasks on its behalf, including but not limited to payment processing, data hosting, data processing and assessing credit worthiness for offering loan and credit card.
HOW WE USE YOUR PERSONAL INFORMATION:
While applying for credit card/loan application or purchasing insurance or other services
Marketing Promotions, Research and Programs:
- TRIPMONEY will retain your Personal Information on its servers for as long as is reasonably necessary for the purposes listed in this policy. In some circumstances we may retain your Personal Information for longer periods of time, for instance
- where we are required to do so in accordance with any legal, regulatory, tax or accounting requirements. Where your personal data is no longer required we will ensure it is either securely deleted or stored in a way which means it will no longer be used by the business.
HOW LONG DO WE KEEP YOUR PERSONAL INFORMATION?
- Cookies are small pieces of information that are stored by your browser on your device's hard drive. Cookies allow us to serve you better and more efficiently. Cookies also allow ease of access, by logging you in without having to type your login name each time (only your password is needed); we may also use such cookies to display any advertisement(s) to you while you are on the Website or to send you offers (or similar emails – provided you have not opted out of receiving such emails) focusing on destinations which may be of your interest.
- A cookie may also be placed by our advertising servers, or third party advertising companies. Such cookies are used for purposes of tracking the effectiveness of advertising served by us on any website, and also to use aggregated statistics about your visits to the Website in order to provide advertisements in the Website or any other website about services that may be of potential interest to you. The third party advertising companies or advertisement providers may also employ technology that is used to measure the effectiveness of the advertisements. All such information is anonymous. This anonymous information is collected through the use of a pixel tag, which is an industry standard technology and is used by all major websites. They may use this anonymous information about your visits to the Website in order to provide advertisements about goods and services of potential interest to you. No Personal Information is collected during this process. The information so collected during this process, is anonymous, and does not link online actions to a User
- Most web browsers automatically accept cookies. Of course, by changing the options on your web browser or using certain software programs, you can control how and whether cookies will be accepted by your browser. TRIPMONEY supports your right to block any unwanted Internet activity, especially that of unscrupulous websites. However, blocking TRIPMONEY cookies may disable certain features on the Website, and may hinder an otherwise seamless experience to purchase or use certain services available on the Website. Please note that it is possible to block cookie activity from certain websites while permitting cookies from websites you trust.
- Each time you access the Website your session data gets logged. Session data may consist of various aspects like the IP address, operating system and type of browser software being used and the activities conducted by the User while on the Website. We collect session data because it helps us analyze User’s choices, browsing pattern including the frequency of visits and duration for which a User is logged on. It also helps us diagnose problems with our servers and lets us better administer our systems. The aforesaid information cannot identify any User personally. However, it may be possible to determine a User's Internet Service Provider (ISP), and the approximate geographic location of User's point of connectivity through the above session data.
COOKIES AND SESSION DATA
Automatic Logging of Session Data:
- Your information shall be shared with the insurance companies who are offering insurance policies on TripMoney online Sales Channels. You may note that while making a booking with TRIPMONEY you authorize us to share your information with the said service providers. It is pertinent to note that TRIPMONEY does not authorize the end service provider to use your information for any other purpose(s) except as may be for fulfilling their part of service. However, how the said service providers use the information shared with them is beyond the purview and control of TRIPMONEY as they process Personal Information as independent data controllers, and hence we cannot be made accountable for the same. You are therefore advised to review the privacy policies of the respective service provider whose services you choose to avail.
- TRIPMONEY does not sell or rent individual customer names or other Personal Information of Users to third parties except sharing of such information with our business / alliance partners or vendors who are engaged by us for providing various referral services and for sharing promotional and other benefits to our customers from time to time basis their booking history with us.
- In the interests of improving personalization and service efficiency, we may, under controlled and secure circumstances, share your Personal Information with our affiliate or associate entities. This will enable us to provide you with information about various products and services, both leisure- and travel-related, which might interest you; or help us address your questions and requests in relation to your bookings. If the assets of TRIPMONEY are acquired, our customer information may also be transferred to the acquirer depending upon the nature of such acquisition. In addition, as part of business expansion/development/restructuring or for any other reason whatsoever, if we decide to sell/transfer/assign our business, any part thereof, any of our subsidiaries or any business units, then as part of such restructuring exercise customer information including the Personal Information collected herein shall be transferred accordingly.
- TRIPMONEY may share your Personal Information to third party that TRIPMONEY may engage to perform certain tasks on its behalf, including but not limited to payment processing, data hosting, and data processing platforms.
- We use non-identifiable Personal Information of Users in aggregate or anonymized form to build higher quality, more useful online services by performing statistical analysis of the collective characteristics and behavior of our customers and visitors, and by measuring demographics and interests regarding specific areas of the Website. We may provide anonymous statistical information based on this data to service provider, advertisers, affiliates and other current and potential business partners. We may also use such aggregate data to inform these third parties as to the number of people who have seen and clicked on links to their websites. Any Personal Information which we collect and which we may use in an aggregated format is our property. We may use it, in our sole discretion and without any compensation to you, for any legitimate purpose including without limitation the commercial sale thereof to third parties.
- Occasionally, TRIPMONEY will hire a third party for market research, surveys etc. and will provide information to these third parties specifically for use in connection with these projects. The information (including aggregate cookie and tracking information) we provide to such third parties, alliance partners, or vendors are protected by confidentiality agreements and such information is to be used solely for completing the specific project, and in compliance with the applicable regulations.
- by law, required by any enforcement authority for investigation, by court order or in reference to any legal process;
- to conduct our business;
- for regulatory, internal compliance and audit exercise(s)
- to secure our systems; or to enforce or protect our rights or properties of TRIPMONEY or any or all of its affiliates, associates, employees, directors or officers or when we have reason to believe that disclosing Personal Information of User(s) is necessary to identify, contact or bring legal action against someone who may be causing interference with our rights or properties, whether intentionally or otherwise, or when anyone else could be harmed by such activities.
- to secure our systems; or
- to enforce or protect our rights or properties of TRIPMONEY or any or all of its affiliates, associates, employees, directors or officers or when we have reason to believe that disclosing Personal Information of User(s) is necessary to identify, contact or bring legal action against someone who may be causing interference with our rights or properties, whether intentionally or otherwise, or when anyone else could be harmed by such activities.
WITH WHOM YOUR PERSONAL INFORMATION IS SHARED
COMPANIES IN THE SAME GROUP:
USINESS PARTNERS and THIRD-PARTY VENDORS
DISCLOSURE OF INFORMATION
In addition to the circumstances described above, TRIPMONEY may disclose User's Personal Information if required to do so:
Such disclosure and storage may take place without your knowledge. In that case, we shall not be liable to you or any third party for any damages howsoever arising from such disclosure and storage.
- Review and Ratings
- Question and Answers
- Crowd Source Data Collection (poll questions).
USER GENERATED CONTENT
TRIPMONEY provides an option to its users to post their experiences by way of reviews, ratings and general poll questions. The customers also have an option of posting questions w.r.t a service offered by TRIPMONEY or post answers to questions raised by other users. TRIPMONEY may also hire a third party to contact you and gather feedback about your recent booking with TRIPMONEY. Though the participation in the feedback process is purely optional, you may still receive emails, notifications (app, sms, Whatsapp or any other messaging service) for you to share your review(s), answer questions posted by other users or a. The reviews may be written or in a video format. The reviews written or posted may also be visible on other travel or travel related platforms.
Each User who posts review or ratings, Q&A, photographs shall have a profile, which other Users will be able to access. Other Users may be able to view the number of trips, reviews written, questions asked and answered and photographs posted.
HOW CAN YOU OPT-OUT OF RECEIVING OUR PROMOTIONAL E-MAILS?
You will occasionally receive e-mail updates from us about fare sales in your area, special offers, new TRIPMONEY services, and other noteworthy items. We hope you will find these updates interesting and informative. If you wish not to receive them, please click on the "unsubscribe" link or follow the instructions in each e-mail message.
PERMISSIONS REQUIRED FOR USING OUR MOBILE APPLICATIONS
When the TRIPMONEY app is installed on your phone or tablet, a list of permissions appear and are needed for the app to function effectively. There is no option to customize the list. The permissions that TRIPMONEY requires and the data that shall be accessed and its use is as below:
Device & App history: We need your device permission to get information about your device, like OS (operating system) name, OS version, mobile network, hardware model, unique device identifier, preferred language, etc. Basis these inputs, we intend to optimize your travel booking experience, use OS specific capabilities to drive great in-funnel experiences using components of device’s OS, etc.
Identity: This permission enables us to know about details of your account(s) on your mobile device. We use this info to auto-fill your email ID’s and provide a typing free in-funnel experience. It helps us map email ID’s to a particular user to give you the benefit of exclusive banking offers, wallet cash-backs, etc. It also allows facilitating your Facebook and Google+ login.
Location: This permission enables us to give you the benefit of location specific deals and provide you a personalized in-funnel experience. When you launch TRIPMONEY app to apply for loan or credit card we auto-detect your location so that your nearest banking partner branch can be connect with you. Your options are personalized basis your locations. For international services or products, this enables us to determine your time zone and provide information accordingly.
SMS: If you allow us to access your SMS, we read your SMS to autofill or prepopulate ‘OTP’ while making a transaction and to validate your mobile number. This provides you a seamless purchase experience while purchasing an insurance and you don’t need to move out of the app to read the SMS and then enter it in the app.
Phone: The app requires access to make phone calls so that you can make phone calls to banking partners and our customer contact centers directly through the app.
Contacts: If you allow us to access your contacts, it enables us to provide a lot of social features to you send across referral links to your friends, etc. We may also use this information to make recommendations for services your friends utilized or applied. This information will be stored on our servers and synced from your phone.
Photo/ Media/ Files: The libraries in the app use these permissions to allow map data to be saved to your phone's external storage, like SD cards. By saving map data locally, your phone doesn't need to re-download the same map data every time you use the app. This provides you a seamless Map based service or product selection experience, even on low bandwidth network.
Wi-Fi connection information: When you allow us the permission to detect your Wi-Fi connection, we optimize your experience such as more detailing on maps, better image loading, more credit card or loan options to choose from, etc.
Device ID & Call information: This permission is used to detect your Android ID through which we can uniquely identify users. It also lets us know your contact details using which we pre-populate specific fields to ensure a seamless application or purchase experience.
Calendar: This permission enables us to put your travel plan on your calendar.
Notifications: If you opt in for notifications, it enables us to send across exclusive deals, promotional offers, loans or credit card related updates, etc. on your device. If you do not opt for this, updates for your application status, purchase confirmation etc. will be sent through SMS.
Contacts: If you opt in for contacts permission, it enables us to provide a lot of social features to you such as sharing your services with your friends, inviting your friends to try our app, send across referral links to your friends, etc. We will also use this information to make recommendations for service your friends have utilized or applied. This information will be stored on our servers and synced from your phone..
Location: This permission enables us to give you the benefit of location specific deals and provide you a personalized in-funnel experience. When you launch our app to apply for loan or credit card, we auto-detect your location so that your nearest banking partner branch can be connect with you. Your options are personalized basis your locations. For international services or products, this enables us to determine your time zone and provide information accordingly
HOW WE PROTECT YOUR PERSONAL INFORMATION?
All payments on the Website are secured. This means all Personal Information you provide is transmitted using TLS (Transport Layer Security) encryption. TSL is a proven coding system that lets your browser automatically encrypt, or scramble, data before you send it to us. Website has stringent security measures in place to protect the loss, misuse, and alteration of the information under our control. Whenever you change or access your account information, we offer the use of a secure server. Once your information is in our possession we adhere to strict security guidelines, protecting it against unauthorized access.
WITHDRAWAL OF CONSENT AND PERMISSION
You may withdraw your consent to submit any or all Personal Information or decline to provide any permissions on its Website as covered above at any time. In case, you choose to do so then your access to the Website may be limited, or we might not be able to provide the services to you. You may withdraw your consent by sending an email to firstname.lastname@example.org.
YOUR RIGHTS QUA PERSONAL INFORMATION
You may access your Personal Information from your user account with TRIPMONEY. You may also correct your personal information or delete such information (except some mandatory fields) from your user account directly. If you don’t have such a user account, then you write to TRIPMONEY .
ELIGIBILITY TO TRANSACT WITH TRIPMONEY
You must at least 18 years of age to transact directly with TRIPMONEY and also to consent to the processing of your personal data.
- By registering with Zest and by using Zest's services (referred to collectively as "Services"), you understand and agree that Zest will treat your use of the Services as acceptance of these terms and conditions ("Terms") from that point onwards..
- You understand and acknowledge that "Zest/ ZestMoney" and domain name www.zestmoney.in have been assigned to Camden Town Technologies Pvt Ltd through an assignment agreement. Camden Town Technologies Pvt Ltd owns and operates an online technology platform for the purpose of providing a platform for persons to register for obtaining loans from financial institutions in India. Registered Address: ZestMoney (Camden Town Technologies Pvt Ltd), Ground & Third Floor, Indiqube Celestia, Site No. 19 & 20, Koramangala 1A Block, Koramangala, Bengaluru, Karnataka 560034
- You acknowledge and agree that Zest owns all legal rights, titles and interests in and to the Services, including any intellectual property rights which subsist in the Services (whether those rights are registered or not, and wherever in the world those rights exist).
- You understand that you do not have the right to use any of Zest's trade names, trademarks, service marks, logos, domain names, and other distinctive brand features. You do not have the right to remove, obscure, or alter any proprietary rights notices (including trademark and copyright notices), which may be affixed to or contained within the Services. You will not copy or transmit any of the Services.
- You further acknowledge that the Services may contain information which is designated confidential by Zest and that you shall not disclose such information without Zest's prior written consent. You will not copy, create a derivative work from, modify, reverse engineer, reverse assemble or otherwise attempt to discover any source code, sell, assign, sublicense, grant a security interest in or otherwise transfer any right in the Services.
- You agree not to use the website for any purpose that is unlawful, illegal or forbidden by these Terms, or any local laws that might apply to me. Zest may, at its sole discretion, at any time and without advance notice or liability, suspend, terminate or restrict my access to all or any component of the website or the availability of the website itself.
- Zest may modify these Terms, at any time, by posting notice on the website at least ten (10) days before any modification becomes effective.
Terms and Conditions
- You hereby declare that you are over 18 years of age, of sound mind and a person resident in India as defined under Foreign Exchange Management Act, 1999.
- You hereby declare that you are a human being and not a "bot".
- You hereby confirm to register with us to avail a loan / credit using the services provided by Zest.
- You hereby understand and acknowledge that the information requested is for the purposes of complying with various laws, regulations and guidelines (including Know Your Customer (KYC) norms / Anti-Money Laundering (AML) standards / Combating of Financing of Terrorism (CFT) / Obligation of banks under the Prevention of Money Laundering Act, 2002) promulgated by the Government of India from time to time by Zest or its associated partners. You further acknowledge that if you do not provide the requested information to Zest, Zest or its partners will be unable to provide or continue its / their services to me.
- You confirm that all information given to Zest (whether in Zest's online form or otherwise) is true, correct and not misleading. You agree to provide any additional documents to Zest as may be required from time to time.
- You hereby understand that every time you wish to use Zest, you will be provided with an online loan agreement. Upon clicking 'I Accept' you will be bound by the terms of the loan agreement in relation to the credit facility for credit worthiness, verifying identity to prevent and detect crime and money laundering. You understand and agree that Zest may charge you an administrative fee for facilitating the loan / credit to be availed by you and you agree to pay the same.
- You hereby understand that when you apply for a loan, Zest may check your records amongst other things with its own records, any information as available to Zest through any of its sources, those at credit reference agencies (CRAs); those at fraud prevention agencies (FPAs) for assessing your credit worthiness, verifying identity to prevent and detect crime and money laundering.
- Zest also has the right, and obligation, to report your details to CRAs in the event that you have delayed in repaying your loan instalment.
- Accepting these T&C, implies your express consent to be contacted by us, representatives, affiliates, or anyone calling on our behalf at any contact number, or physical or electronic address provided by you while registering your account with ZestMoney. You further agree to us contacting you in any manner, including without limitation, emails, SMS messages, WhatsApp, calls using pre recorded messages or artificial voice, and notifications sent via our mobile application.
- Accepting these T&C, implies your express consent to be contacted by us, representatives, affiliates, or anyone calling on our behalf at any contact number, or physical or electronic address provided by you while registering your account with ZestMoney. You further agree to us contacting you in any manner, including without limitation, emails, SMS messages, WhatsApp, calls using pre recorded messages or artificial voice, and notifications sent via our mobile application.
- You are responsible for maintaining the secrecy of your passwords, login and account information. You will be responsible for all use of the website by me and anyone using my password and login information (with or without my permission). You will only use the website to search for and to apply for loans and will not use the website to make any fraudulent applications.
- All content and services provided on the website are provided on an "as is" and "as available" basis. Zest expressly disclaims all warranties of any kind, whether express or implied, including, but not limited to, the implied warranties of merchantability, fitness for a particular purpose, title, non-infringement, and security and accuracy, as well as all warranties arising by usage of trade, course of dealing, or course of performance. Zest makes no warranty, and expressly disclaims any obligation, that: (a) the content will be up-to-date, complete, comprehensive, accurate or applicable to my circumstances; (b) the website will meet my requirements or will be available on an uninterrupted, timely, secure, or error-free basis; (c) the results that may be obtained from the use of the website or any services offered through the site will be accurate or reliable; or (d) the quality of any products, services, information, or other material obtained by me through the site will meet my expectations.
- Zest (including its officers, directors, employees, representatives, affiliates, and providers) will not be responsible or liable for (a) any injury, death, loss, claim, act of god, accident, delay, or any direct, special, exemplary, punitive, indirect, incidental or consequential damages of any kind (including without limitation lost profits or lost savings), whether based in contract, tort, strict liability or otherwise, that arise out of or is in any way connected with (i) any failure or delay (including without limitation the use of or inability to use any component of the website), or (ii) any use of the website or content, or (iii) the performance or non-performance by Zest or any provider or (b) any damages to or viruses that may infect my computer equipment or other property as the result of my access to the website or my downloading of any content from the website.
LIMITATION OF LIABILITY
- You will not assign or otherwise transfer your rights or obligations under these Terms. Zest may assign its rights and duties under these Terms without any such assignment being considered a change to the Terms and without any notice to me..
- The laws of India, without regard to its conflict of laws rules, will govern these Terms. In case of any legal action courts located in Bangalore, India will have jurisdiction over such matters. In any such action or any action we may initiate, the prevailing party will be entitled to recover all legal expenses incurred in connection with the legal action, including but not limited to costs, both taxable and non-taxable, and reasonable attorney fees..
ARBITRATION AND GOVERNING LAW
- All particulars/information given in this application form are true and complete and no material information has been suppressed/withheld. Borrower acknowledge that IDFC FIRST Bank Limited (“the bank”) shall have no liability for any consequences arising out of any erroneous details provided my borrower for which borrower shall be solely liable. Borrower authorize the Bank to carry out such credit checks and at such time as it may deem necessary. The Bank may sanction at its sole discretion, loans/Overdraft of such amount as the Bank may deem fit (“Loan/Overdraft”) for such purpose(s) as set out by me/us in the application form or as may be specified by Bank in the sanction letters. The quantum of the Loan advance/Overdraft to me/us shall be depended on the internal policies of the Bank from time to time. The amount of the Loan/Overdraft will be conveyed to me/us by and under sanction letter/s issued by the Bank.
- These terms shall become applicable to Borrower once the short term unsecured credit line sanctioned and availed including each Tranche or total number approved Tranches thereunder (Facility/Overall Limit) being provided by the bank. This facility is available for traveling (“Travel Loan/Trip Money”) from the “Merchant’s” (referred in the Schedule) website or app or other portal (“Merchant Platform”) or for any other purpose permitted and mentioned in the schedule.
- Borrower agrees to abide by the terms and conditions of these Facility Terms. By agreeing to these Facility Terms or otherwise using the Facility, borrower is are deemed to have read and understood these Facility Terms and agree to be bound by these Facility Terms including any modifications/ amendments thereto issued from time to time. Borrower shall be solely responsible for keeping me/us updated with these Facility Terms. The Loan/Overdraft along with interest, additional/ compound interest, default interest and such other charges are /may be payable by me/us to the Bank are hereinafter collectively referred to as “Dues”.
- Terms of the Facility:
- The Facility is provided to borrower for travelling (“Trip Money”) through Merchant on the mobile application, website or any other online platform owned and/ or operated by the Merchant (“Merchant Platform”).
- For the avoidance of doubt, the bank shall provide the Facility for enabling to travel/book tickets through Merchants to travel through a Merchants technology platform. The Merchants technology platform shall act as an intermediary between borrower and Bank.
- Borrower acknowledge and agree that merely by accessing the Merchant Platform or applying for the Facility, borrower would not be entitled to avail the Facility. Bank will have the right to determine my/our eligibility to avail the Facility either on its own or through its agents or third-party service providers, and in this regard, would require me/us to provide certain information and documents.
- Borrower acknowledge to have given consent to the Bank to disburse the Facility amount to the Merchant’s Account as Merchant will be booking tickets for borrower’s travel plan and in event of any cancellation, suspension of said travel plan, borrower shall immediately repay the loan amount to the Bank.
- Borrower’s acknowledge and agree that Bank may cancel/ suspend/ terminate the Facility (whole or part) at any time, with or without prior notice to Borrower. Any outstanding amounts to be paid to Bank by Borrower, under the Facility, shall continue to be governed by these Facility Terms.
- Borrower’s warrant that all the information provided for availing the Facility, shared with the Bank by borrower and on the Merchant’s Platform is accurate and up to date. Bank can verify the borrowers Information and choose to refuse extension of the Facility to You.
- Borrower agree’ s to use the Facility only for purposes that are permitted by these Facility Terms and any applicable laws as amended from time to time.
- Borrower hereby acknowledges and agrees to immediately notify Bank in case of any change in the communication details registered with the Bank including Home address, E-mail address, Phone number etc.,
- Bank retains the right to offer the Facility to the borrower for such period as deem appropriate and retains the right to withdraw the offer of the Facility at any point in time.
- PAYMENTS a) The Borrower agrees to repay the Loan to the Bank by EMI, on a monthly basis, on the scheduled due date, as per the mode of payment, specified in the Sanction Letter. The Borrower agrees that timely payment of EMI is the essence of the Loan.
- b)The repayment of the Loan is by Post Dated Cheques(“PDCs”),Standing Instructions(SI)/ Electronic Clearing System (ECS) instructions/other mode/instrument, as acceptable to the Bank from time to time or other mode of payment, the Borrower undertakes to honour all payments on the scheduled due dates and shall not instruct their bankers for stop payment. The Borrower shall be liable to pay cheque bounce charges for each cheque bounce/dishonour/other mode charges.
- c) The Borrower understands and agrees to the Bank method of calculating Equated Monthly Instalments (“EMI”) and agrees not to dispute the same, at any time in future.
- d)The Borrower shall pay a non-refundable Processing Fee with upfront EMI as specified in the Sanction Letter OR Non-refundable Processing Fee with upfront EMI shall be deducted by the Bank
- e)The Borrower has executed by way of collateral security, Demand Promissory Note (DPN) for the repayment of the Loan along with interest thereon. In case of any default, the Borrower shall without prejudice to the Bank’s right and remedies, pay additional/default interest at the rate mentioned in the Schedule hereto/Application or as may be prescribed by the Bank., over and above the then applicable rate of interest till full payment is made/default is cured. This liability shall not act as justification for any default.
- f)Any Payments made by/on behalf/for the Borrower or any realizations in relation to the Loan, security, shall be appropriated towards the Outstanding Balance and /or Liabilities (as defined hereinafter) in the following order: (i) Firstly, towards costs and expenses incurred by the Bank; (ii) Secondly, towards any charges, commissions, fees, taxes, levies (wherever applicable); (iii) Thirdly, towards additional/default interest; (iv) Fourthly, towards interest; (v) Fifthly, towards principal amount(s). Any statement of account furnished by the Bank shall be accepted by and be binding on the Borrower(s) and shall be conclusive proof of the correctness of the amounts mentioned therein except for any manifest error therein.
- g)The Borrower unconditionally consent and authorizes the Bank to raise debits for such amounts as may be calculated by the Bank from time to time and undertake to maintain sufficient balances to cover the Loan Repayment Dues (and charges, if any) on the stipulated due dates. Borrower is aware that failure to repay loan amount through these instruction shall be treated as a default in repayment of dues and all charges /penalties /levies as covered by the agreement will hold good towards the non-payment of obligations.
- h) The Borrower further undertakes that in the event of the above account getting closed / transferred for any reason, the Borrower shall intimate to the Bank the new account opened with the bank to debit the Loan Repayment amounts as per the agreement. Borrower also undertakes the responsibility to provide the fresh set of Mandate and security PDC's for such new account, as per terms of the agreement in lieu of existing instructions.
- Tranche Disbursement- Borrower is allowed to withdraw multiple tranches (the number of tranches maybe fixed or flexible as decided by the Bank ) until the Facility is utilised. Any interest applicable on the utilized principal during the validity period of the principal, will be borne by Merchant, unless specifically communicated that interest is to be borne by the Borrower. Borrower will continue to utilise the product interest-free and will only be responsible to pay the principal outstanding by the due date. In the event any monies are remaining due and payable by the Borrower to the Bank, whether under this Agreement and/or the other Transaction Documents or otherwise, the Bank may, at its sole discretion, reduce the availability of the amounts of the Overall Limits and / or adjust such monies against the respective Available Limits and all such adjustments shall be treated as drawals by the Borrower.
- Negative Covenants : The Borrower covenants and agrees that, save and except with the prior, specific and express written consent of the Bank, the Borrower shall not ; (a) create, assume or incur any further indebtedness to any person; or lend or advance any amounts to any person; or undertake any guarantee or security obligations; (b) except in favor of the Bank, sell, license, let lease, transfer, alienate, dispose of in any manner whatsoever, surrender or otherwise encumber any of its assets, rights, title or interest, receivables, or any part thereof; or create, facilitate or permit to exist any charge, encumbrance or lien of any kind whatsoever over any of its property or grant any option or other right to purchase, lease or otherwise acquire, any such assets or part thereof; (c) permit of effect any direct or indirect change in the legal of beneficial ownership or control;(d)Change/cease / retire from terminate/resign from the present employment/profession /business disclosed in the Applications; or change, terminate or open any bank account. (e)
- The Borrower acknowledges and agrees that the Bank is acting as a Lender and shall not be responsible or liable for any loss, claim, liability, or damage of any kind resulting from, arising out of, or in any way related to any communication/ arrangement between the Merchant and the Borrower. The Borrower understands, acknowledges and agrees that the Bank shall not hold responsible or liable for any loss, claim, liability, or damage arising out of travel related issues/ product availed under this Agreement.
- As instructed by the Borrower, the Bank shall disburse the loan amount to the Merchant. It is the responsibility of the Borrower to procure the service from the Merchant. In case the Borrower does not travel or Merchant is unable to arrange for agreed service for any reason (including delay/s and/ or non-availability of tickets or for any other reason, ), borrower is entitled to recover the cost of the such travel plan/product from the Merchant as per the terms and conditions agreed between the Merchant and the Borrower. It shall not absolve the Borrower from repaying the Loan already disbursed by the Bank to the Merchant. In case the Borrower cancels the Travel Plan and inform the Bank before disbursal of the Loan Amount to the Merchant, the Bank shall not disburse the Loan to the Merchant and shall close the loan account in the Books of the Bank.
- Event of Default The following events shall constitute events of default (each an “Event of Default”), and upon the occurrence of any of them the entire Outstanding Balance shall become immediately due and payable by the Borrower and further enable the Bank inter alia to recall the entire Outstanding Balance and/or enforce any security and transfer/sell the same and/or take, initiate and pursue any actions/proceedings as deemed necessary by the Bank to recovery of the dues; (a) Failure on Borrower’s part to perform any of the obligations or terms or conditions or covenants applicable in relation to the Loan including under this/other documents including non – payment in full of any part of the Outstanding Balance when due or when demanded by the Bank; (b) any misrepresentations or misstatement by the Borrower; or (c) occurrence of any circumstance or event which adversely affects Borrower’s ability/capacity to pay/repay the Outstanding Balances or any part thereof or perform any of the obligations; (d) if any attachment, distress, execution or other process against the Borrowers/its assets or any of the security is threatened, enforced or levied upon by any person; or (e) fall, reduction or decrease, in the opinion of the Bank, in values of any security lower than the values required by the Bank; (f) the event of death, insolvency, failure in business, commission of an act of bankruptcy of the Borrower, or change or termination of employment/profession/business for any reason whatsoever.(g) if the loan amount is used for investment made in shares, debentures, advances and intercorporate loans/deposits to other companies (including subsidiary companies) (g) if the loan amount is used for investment made in shares, debentures, advances and inter-corporate loans / deposits to other companies (including subsidiary companies).
- Notwithstanding anything to the contrary in this document or any other document or any other document/arrangement : (i) in respect of all and any of Borrower’s present and future liabilities to the Bank, its affiliates, group entities, associate entities, parent, subsidiaries, any of their branched (collectively “Relevant Entities”), whether under this document or under any other obligation/loan facilities/borrowing/document, whether such liabilities are/be crystallized, actual or contingent, primary of collateral or several or jointly with others, whether in same currency or different currencies, whether as principle debtor and/or as guarantor and/or otherwise howsoever (collectively “Liabilities”), each of the Bank and the Relevant Entities shall in addition to any general lien or similar right to which any of them as bankers may be entitled by law, practice, custom or otherwise, have a specific and special lien on all the Borrower’s present and future stocks, shares, securities, property, book debts, all moneys in all accounts whether current, savings overdraft, fixed or other deposits, held with or in custody, legal or constructive, with the Bank and/or any Relevant Entities, now or in future, whether in same or different capacity of the Borrower, and whether severally or jointly with others, whether for any banking relationship, safe custody, collections, or otherwise whether in same currency or different currencies; and (ii) separately, each of the Bank and the Relevant Entities shall have the specific and express right to, without notice to and without consent of the Borrower, set – off, transfer, sell realize, adjust appropriate all such amounts in all accounts (whether prematurely or upon maturity as per the Bank’s discretion), securities, amounts and property as aforesaid for the purpose or realizing or against any of dues in respect of any of the Liabilities whether ear marked for any particular Liability or not, combine or consolidate all or any of accounts of the Borrower and set off any monies, whether of same type or nature or not and whether held in same capacity or not including upon happening of any of the events of default mentioned in any of the documents pertaining to the respective Liabilities or upon any default in payment of any part of any the Liabilities. (iii) the Bank and the Relevant Entities shall be deemed to have and hold and continue to have first charge on any assets including on any assets including any deposit on which security has been/will be created in respect of the Loan, as security also for any of the other Liabilities and all the rights and powers vested in the Bank in terms of any security or charge created for the Loan shall be available to the Bank and/or the Relevant Entities also in respect of such other Liabilities, irrespective of the fact whether the Loan is at any time outstanding, repaid or satisfies or not and even after the Loan has been repaid or prepaid.
- The Bank shall at any time, without any consent of or notice to the Borrower (s) be entitled to securitize, sell assign, discount or transfer all or any part of the Bank’s rights and obligations under the Loan, this document or any other document, to any person (s) and in such manner and on such terms as the Bank may decide. Borrower shall not be entitled to directly or indirectly assign or in any manner transfer, whether in whole or part, any rights, the benefit or obligation under the Loan, this / other document.
- The Bank shall also be entitled to communicate in any manner it may deem fit, to or with any person or persons including guarantors, person giving reference to loan, with a view to receiving assistance of such person or persons in recovering the defaulted amounts including but not limited to visiting the property and/or any place of work of the Borrower.
- The Bank shall be entitled at its discretion to engage/avail of, at the risk and cost of the Borrower, services of any person/third party service provider/agent/ agency, for anything required to be done for/in relation to/pursuant to the Loan, including collections, recovery of dues, enforcement of security, getting or verifying any information of the Borrower/assets, and any necessary or incidental lawful acts /deeds/matters and things connected thereto, as the Bank may deem fit.
- Except to the extent disclosed to the Bank: (i) all the Borrower’s contracts or agreements with, or any commitments to, any affiliates or group companies (if applicable) are on arms’ length basis; (ii) (a) where the Borrower is an individual, he/ she is not a director or specified near relation of a director of a banking company; (b) where the Borrower is a partnership firm/HUF/limited liability partnership firm, none of the partners or members of the HUF is a director or specified near relation of a director of a banking company; and (c) where the Borrower is a joint stock company, none of its directors, is a director or specified near relation of a director of a banking company; (iii)(a) where the Borrower is an individual, that he/ she is not a specified near relation to any senior officer of the Bank, (b) where the Borrower is a partnership firm/HUF/ limited liability partnership firm, none of the partners or members of the HUF, is a specified near relation of any senior officer of the Bank, and (c) where the Borrower is a joint stock company, none of its directors, is a specified near relation of any senior officer of the Bank. The Borrower agrees that the bank has an unconditional right to revoke and/or recall the entire loan facility if the disclosure as mentioned in this clause is found to be false.
- The Borrower shall ensure that neither the Borrower nor any director/partner/member of the Borrower has been declared a willful defaulter; in case any director/partner/member has been declared as a willful defaulter, the Borrower shall take expeditious steps for removal of such person.
- Borrower understands and acknowledges that there are inherent risks involved in sending the instructions/communications/documents to the Bank via electronic mode viz., emails, SMS, etc., and hereby agree and confirm that all risks shall be fully borne by him and he assumes full responsibility for the same. He will not hold the Bank liable for any losses or damages including legal fees arising owing to any miscommunication or technological error beyond the control of the Bank. Bank shall be responsible to ensure the authenticity, validity, or source of any instructions/documents and shall be liable if any instructions/documents turned out to be unauthorized, erroneous, or fraudulent.
- DISCLOSURE/SHARING OF INFORMATION
- a)In the Event of Default, the Bank/IDFC First shall also be entitled to communicate in any manner it may deem fit, to or with any person or persons including guarantors, person giving reference to loan, with a view to procure assistance of such person or persons in recovering the defaulted amounts including but not limited to visiting the property and/or any place of work of the Borrower.
- b)The Bank will limit the collection and use of customer information only on a needtoknow basis to deliver better service to the customers. The Bank may use and share the information provided by the Customers with its Affiliates and third parties for providing services and any servicerelated activities such as collecting subscription fees for such services and notifying or contacting the Customers regarding any problem with, or the expiration of, such services. In this regard, it may be necessary to disclose the customer information to one or more agents and contractors of the Bank and their subcontractors, but such agents, contractors, and subcontractors will be required to agree to use the information obtained from the Bank only for these purposes. The customer authorizes the Bank to exchange, share, part with all information related to the details and transaction history of the customer to its Affiliates/ other banks/ financial institutions/ credit bureaus/ agencies/ participation in any telecommunication or electronic clearing network as may be required by law, customary practice, credit reporting, statistical analysis and credit scoring, verification or risk management or any of the aforesaid purposes and shall not hold the Bank liable for use or disclosure of this information also the customer consents to receive information about new products, offers, promotions, receive communications, notices, and other information from the Bank and its agents/service providers/partners etc.(whether through SMS, emails, phone call, automated phone calls or by any other means . The Bank values your relationship and will at all times strive to ensure your privacy.
- Force Majeure The Borrower shall be liable to perform or fulfil its obligations at all point of time and shall not delay/postpone performance, its obligations in whole or in part, even on the ground of any force majeure event such as acts of God, floods, cyclones, explosion, earthquakes, epidemics, diseases, accidents, fires, wars, riots, strikes, lockouts , orders of governmental or other statutory authorities, national emergency, terrorist attacks or any other similar causes.
- .The Bank shall have the right to not return the Application, the photographs, information and documents submitted by the Borrower. the Bank shall, without notice to or without any consent of the Borrower, be absolutely entitled and have full right, power and authority to make disclosure of any information relating to Borrower including personal information, details in relation to documents, Loan, defaults, security, obligations of Borrower, to the Credit Information Bureau of India (CIBIL) and/or any other governmental / regulatory / statutory or private agency/entity, credit bureau, RBI, the Bank’s other branches/subsidiaries/affiliates/rating agencies, service providers, other banks/financial institutions, and third parties, any assigns/potential assignees or transferees, who may need the information and may process the information, publish in such manner and through such may be deemed necessary by the publisher/the Bank/RBI, including publishing the name as part of willful defaulter’s list from time to time, as also use for KYC information verification, credit risk analysis, or for other related purposes. In this connection, the Borrower waives the privilege of privacy and privity of contract. the Bank shall have the right, without notice to or without any consent of the Borrower, to approach, make enquires, obtain information, from any person including other banks/finance entities/credit bureaus, Borrower’s employer/family members, any other person related to the Borrower, to obtain any information for assessing track record, credit risk, or for establishing contact with the Borrower or for the purpose of recovery of dues from the Borrower.
- Governing law and dispute resolution
- (a)These Facility Terms shall be governed by, and construed in accordance with, the laws of India, without reference to principles of conflicts of law. The Courts of Mumbai shall have exclusive jurisdiction over any dispute arising from or relating to these Facility Terms and/or in relation to the Facility.
- (b)Borrower expressly consent to the jurisdiction of said Courts and waive any objection to such personal jurisdiction based on forum inconvenience or any other basis.
- Any notice, approvals, instructions, demand and other communications given or made by the Bank shall be deemed to be duly given and served if send by Normal post, courier, registered post, facsimile electronic mail, personal delivery, SMS or by prepaid registered mail addressed to the Borrower’s address, phone/ mobile number, fax number or email as given in the Applications (or at the address changed on which the Bank’s acknowledgment is duly obtained as hereinafter mentioned) such notice and service shall be deemed to take effect on the third working day following the date of posting thereof in case of normal post, courier, registered post, at the time of delivery if given by personal delivery, upon receipt of a transmission report if given by facsimile, upon sending the electronic mail or SMS if given by electronic mail or SMS. The Borrower always undertakes to keep the Bank informed in writing of any change in the mailing address, email id, phone and mobile number (s) as provided in the Applications and to obtain the Bank’s written acknowledgment on the intimation given to the Bank for any such change.
- The borrower is aware that this document is an electronic record in terms of Information Technology Act, 2000 and rules there under as applicable to electronic records in various statutes as amended by the Information Technology Act, 2000. This electronic record is generated by a computer system and does not require any physical signatures.
- Electronic communications shall be deemed to have been received by borrower when we send the electronic communication to the email address / mobile number / details provided by borrower or any other third party. Borrower undertakes that he will not hold Bank or Banks business partners/ service providers/ authorized third parties responsible for any such communications received from Bank/ its business partners/ service providers/ authorized third parties, nor will any such communication amount to spam, unsolicited communication or a violation of borrower(s) registration on the national do not call registry.
- The Borrower hereby expressly acknowledges and confirms that the Borrower has read, verified, understood, irrevocably agreed to and accepted and delivered all the terms and conditions contained in Clauses 1 to--- (including sub clauses), schedule of charges, Standing Instruction (collectively, "Loan Documents") online by ticking / clicking / checking the "I Agree" or "I Agree and Accept" or any similar icon/tab/option on the online system / Website / portal / platform of Merchant/ its agent/ service provider/partners as well as by entering the one time password ("OTP") provided to the Borrower's mobile number registered with the Bank, and that there is no requirement of Borrower's any other signature or physical signature on the Loan Documents or of the Borrower signing the Loan Documents in physical form. The Borrower also acknowledges that the execution of the agreement would be complete only once the same is accepted by the Bank. The Bank also does not require to sign the Loan Documents in any physical form. The Bank shall be deemed to have accepted and signed this document online by way of sending an email/ letter through its officer to the Borrower and attaching therewith the copy of this document. For the purpose of stamp duty, any writing on a stamp paper or franked page associating the stamp paper or such franked page with this document will be as good as making the stamp paper/franked page an integral part of this document.
The person(s) named in the Schedule hereto (hereinafter referred to as the “Schedule”) being borrowers, hereinafter collectively referred to as “Borrower” which expression shall, unless it be repugnant to the context or meaning thereof be deemed to mean and include his/her heirs, administrators and executors.
In favour of: IDFC FIRST Bank Ltd, a Company incorporated under the Companies Act, 2013 and a banking company within the meaning of the Banking Regulation Act, 1949 having its registered office at IDFC FIRST Bank Ltd address KRM Tower, 7th Floor, No.1, Harrington Road, Chetpet, Chennai 600031 and a branch office in India at the address mentioned in the Schedule, hereinafter referred to as “The Bank” (which expression shall, unless repugnant to the context or meaning thereof, shall be deemed to mean and include its successors, transferees and assigns). In case of there being more than one Borrowers, the reference to the term “Borrower” shall be deemed to be as if it were plural and this document shall be read accordingly as if made and liabilities undertaken by each of them jointly and severally. Reference to the masculine gender includes reference to the feminine and neuter genders and vice versa.
The Borrower hereby irrevocable and unconditionally agree to abide by the following terms and conditions: