Our relationship with you is our most important asset. We want you to feel comfortable and confident when using our website (defined hereinafter) and the Services (defined hereinafter). The objectives of these Terms and Conditions of Use (“Terms”) are to inform you of the terms which apply to your access to the Website and Services, what we expect from you, and what you can expect from us as you use and interact with our Website and the Services provided by us, our Partners and third party service providers. Further, you would learn about the following:
(a) our policy regarding the changes and updates to these Terms;
(b) description of the Website and the Services offered by us, our Partners and third party service providers;
(c) sign-up process and information required by us;
(d) conditions regarding use of the Website and the Services;
(e) terms of use and conditions regarding the information made available by us on the Website;
(f) intellectual property rights and ownership of the content on our Websites and the conditions of use of such content;
(g) Know Your Client (“KYC”) requirements;
(h) our policy regarding the communications and notifications sent by the Website;
(i) disclaimers, limitation of liability and indemnification obligations in relation to the Services provided; and
(j) legal rights and obligations in case of violation of these Terms by you.
These Terms apply to and govern the use of or access to the website www.moneyhaven.co.in, and on its mobile/web applications (hereinafter, collectively referred to as the “Website”), by the user (hereinafter, “you”, “your”, or “User”). The Terms shall apply to the User in relation to the relevant Services availed on the Website.
User and our entity are each a “Party” and collectively the “Parties”.
These Terms are an electronic record in terms of the (Indian) Information Technology Act, 2000 and rules thereunder as applicable and as amended from time to time (“IT Act”). This electronic record is generated by a computer system and does not require any physical or digital signatures. These Terms are published in accordance with the provisions of Rule 3(1)(a) of the Information Technology (Intermediary Guidelines and Digital Media Ethics Code) Rules, 2021 framed under the IT Act (as amended from time to time), that require publishing the terms of services and practices for access or usage of Website and Services. These Terms constitute a binding and legally enforceable contract between us and User (as defined below). By registering with us using the Website or availing the Services, you agree to be bound by the Terms. If you are using the Website on behalf of an organization, you are agreeing to the Terms on behalf of that organization (in which event, “you”, “your” or “User” will refer to that organization).
You represent that you are at least 18 (eighteen) years of age and have not been previously suspended or removed by us, or disqualified for any other reason, from availing the Services or using the Website. In addition, you represent and warrant that you have the right, authority and capacity to agree to the Terms and to abide by them. You shall not impersonate any person or entity, or falsely state or otherwise misrepresent your identity, age or affiliation with any person or entity. In the event of any violation of the Terms, we reserve the right to suspend or permanently prevent you from availing the Services or using the Website.
If you do not agree to be bound by these terms, you must not use our services. By continuing to use the website or the Services you expressly agree and undertake to be bound by these terms. Subject to applicable laws, these Terms (and any changes thereto) will become applicable to you retrospectively on and from the date of your first use of the Website.
1) Changes to these Terms
1.1. Please note that these Terms may change from time to time. We reserve the right to modify or amend these Terms. While we will make reasonable efforts to keep you posted on any updates to these Terms, to make sure that you are aware of any changes, we encourage you to periodically review them whenever accessing or using the Website to be continuously aware of the changes that we may be carrying out to these Terms.
1.2. In the event we modify these Terms, by continuing to access and use the our services or website, you will have confirmed your acceptance to any such modifications. Your continued use will be adequate proof that you have expressly agreed to the terms of these Terms which shall apply from the date of your first use of the Website. In addition, when using the Website, you will be subject to any posted guidelines, supplementary terms, policies, or disclaimers made available or issued by us from time to time, including but not limited to the Privacy Policy. All such supplementary terms, policies, guidelines or disclaimers are hereby incorporated by reference into these Terms.
2) About the Website and the Services
The Website also allows you to avail the Services (defined hereinafter) directly from us, its Partners, and third-party service providers associated with us from time to time, and the Website facilitates communication with such Strategic Partners and third parties for availing the Services.
By agreeing to these Terms, you have provided your express consent and acknowledge that we will retain/ store your data and confidential information, of any nature (either wholly or partially), in the our servers or cloud or otherwise in any other medium as may be transmitted/ processed/ passed through us.
You agree that you have put all compliance, certifications, and security systems in place in order to ensure secure data transmission by you to us, without any exposure of breach, theft or loss of data..
You acknowledge and agree that the Company shall have no responsibility or liability in relation to failure of any activity, if such activity may have been initiated by us, any third party or by you, and that has failed or delayed on account of any act or omission of the financial institutions, banks, non-banking financial companies AMCs, the process of authentication and acceptance of data by such third parties, including but not limited to, failure or delay as a result of, network or connectivity failure, device or application failure possible down time of Website or any other technical or non-technical error of any nature, whether foreseen or unforeseen.
2.7 Financial Products
2.7.1. The Company is registered with Association of Mutual Funds of India bearing registration number ARN 154352. By using the Website for investment in regular funds you agree to abide by the ‘Additional Terms for Financial Products.
Taxation and other services
We do not guarantee that ITR or GST returns, or any similar other service will be provided error free, although all reasonable efforts would be taken by us to ensure it is accurately filed. We are not responsible for any gain or loss as a result of any error or mistake in availing our services
2.8 Refunds
In the event that you (being the merchant/receiver of the payment) receive any payments from your customers by sending payment requests through the Website or otherwise, then you and your customers acknowledge and undertake that you have provided to your customers, and your customers have received the goods, products or services, and the payments are made by your customers to you in lieu of the same. We or our Partners will not be responsible for the goods, products or services received or any disputes between you (being the merchant/receiver of the payment) and your customers. The merchant/receiver of the payment will be solely responsible for such claims and refunds, and the Company will not be responsible for providing any refunds in relation to the goods, products or services.
2.9 We reserve the right to add, modify or discontinue, temporarily or permanently, the Services and Website (or any part thereof) with or without cause. We shall not be liable for any such addition, modification, suspension or discontinuation of the Services.
3) Sign-Up and Consent Requirements
3.1. To avail the Services, you may have to provide us with necessary details including but not limited to your name, mother’s name, father’s name, date of birth, gender, Permanent Account Number (“PAN”), signature, marital status, nominee details, cancelled cheque, photograph and video recording, email id, phone number, educational or professional qualification, business name, business address, nature of business, Goods and Service Tax Identification Number (“GSTN”), Tax Deduction and Collection Account Number (“TAN”), bank account details, Unified Payment Interface (“UPI”) ID, and/or other payment related details etc., as applicable.
3.2. You agree to provide the above stated information, or such other information as may be necessary or required by us to provide the Services, at the time of sign-up or at any subsequent stage. Further, you acknowledge that the act of providing your Aadhaar ID is voluntary in nature unless mandated under applicable law. You may choose to provide us with an alternative KYC proof.
3.3. You warrant to provide true, accurate, current and complete information about yourself and you agree to not misrepresent your identity or your account information. You agree to keep your account information up to date and accurate.
3.4. If you upload or provide information relating to any third parties, you should ensure that any such information is uploaded only after obtaining express written consent from them for using their information on the Website. Further, you should ensure that express written consent from such persons is obtained to receive communications from us regarding: information about us and the Services; promotional offers and services from us and our third party service providers and Partners, and any other matter in relation to the Services. If such third parties fail to provide written consent, or withdraw consent, you shall immediately cease to use the Services in relation to them. You will be solely responsible for obtaining such consent from third parties and we assume that such consent is sought and received by you if you provide such information relating to any of such third parties any time during the use of the Website.
3.5. If you provide any information that is false, inaccurate or outdated, or we have reasonable grounds to suspect that such information is false, inaccurate or outdated, we will be entitled to suspend or terminate your account and prohibit any and all current or future service by you. You are responsible for maintaining the confidentiality of the account and are fully responsible for all activities that occur under your account.
4) Use of and Access to the Website
4.1. You agree to use the Website only for lawful purposes, and that you are responsible, liable and accountable for all activities that take place through your use of Website or availing the Services. We exclude any liability arising out of use of the Website.
4.2. You understand, accept and agree that the payment facility provided by us is neither a banking nor financial service, but we merely act as a facilitator providing an electronic payment option, automated online electronic payment option, for the transactions on the Website using the existing authorized banking infrastructure and the payment gateway/payment aggregator networks. Further, by providing payment facility, we are neither acting as trustees nor acting in a fiduciary capacity with respect to the transaction.
4.3. Service Level Terms: We will use commercially reasonable efforts to provide you the Website. We will provide you with reasonable technical support services in accordance with our standard practices. We do not make any commitment that the Website will be available at all times or during any down time (a) caused by outages to any public Internet backbones, networks or servers, (b) caused by any failures of your equipment, systems or local access services, (c) for previously scheduled maintenance, (d) caused by any third party vendor or service provider of the Company, (e) caused by any failure of systems or servers of any third party including that of the government and its authorities and/or financial institutions such as asset management companies or any financial intermediaries, (f) attributable to events such as strikes, riots, insurrection, fires, floods, explosions, war, governmental action, labor conditions, earthquakes, natural disasters, hacking, phishing or interruptions in Internet services to an area where we or our servers are located or co-located, or (g) required pursuant to instructions received by us from any governmental or regulatory authority.
4.4. Updates: From time to time, we may provide upgrades, patches, enhancements, or fixes for the Website to you generally without additional charge and such updates will become part of the Website and subject to the Terms. Notwithstanding the foregoing, we shall have no obligation under these Terms or otherwise to provide any such updates. You understand that the Company may cease supporting old versions or releases of the Website at any time in its sole discretion.
4.5. By accessing or using the Website or by availing Services, you agree not to:
4.5.1. host, display, upload, modify, publish, transmit, update or share any information (if provided with the functionality to do so on the Websites) that:
(a) belongs to another person and to which the user does not have any right;
(b) is defamatory, obscene, pornographic, paedophilic, invasive of another’s privacy, including bodily privacy, insulting or harassing on the basis of gender, libellous, racially or ethnically objectionable, relating or encouraging money laundering or gambling, or otherwise inconsistent with or contrary to the laws of India;
(c) is harmful to minors;
(d) infringes any patent, trademark, copyright or other proprietary rights
(e) violates any law for the time being in force;(f) deceives or misleads the addressee about the origin of the message or knowingly and intentionally communicates any information which is patently false or misleading in nature but may reasonably be perceived as a fact;(g) impersonates another person;(h) threatens the unity, integrity, defence, security or Sovereignty of India, friendly relations with foreign States, or public order, or causes incitement to the commission of any cognizable offence or prevents investigation of any offence or is insulting any foreign states;(i) contains software virus or any other computer code, file or program designed to interrupt, destroy or limit the functionality of any computer resource;(j) is patently false and untrue, and is written or published in any form, with the intent to mislead or harass a person, entity or agency for financial gain or to cause any injury to any person.
4.5.2. violate the Terms or any law for the time being in force;
4.5.3. conduct or forward surveys, contests, pyramid schemes or chain letters involving the Services;
4.5.4. impersonate any person or entity, falsely claim or otherwise misrepresent your affiliation with any person or entity, or access the accounts of others without permission, forge another person’s digital signature, misrepresent the source, identity, or content of information transmitted via the Services, perform any other similar fraudulent activity
4.5.5. infringe our or any third party’s patent, trademark, copyright or other intellectual property rights, proprietary rights, rights of publicity or privacy;
4.5.6. use the Services if you are under the age of 18 (eighteen) years;
4.5.7. post or transmit any message (if provided with the functionality to do so on the Websites) which discloses private or personal matters concerning any person or, is grossly harmful, harassing, hateful and/or disparaging;
4.5.8. post or transmit (if provided with the functionality to do so on the Websites) any message, data, image or program which is blasphemous, vulgar, or offensive in nature;
4.5.9. refuse to cooperate in an investigation or provide confirmation of your identity or any other information provide by you to us;
4.5.10. remove, circumvent, disable, damage or otherwise interfere with security-related features of the Website and Services or features that enforce limitations on the use of the Services or the Website;
4.5.11. reverse engineer, decompile, disassemble or otherwise attempt to discover the source code of as regards Services or Website or any part thereof, except and only to the extent this is expressly permissible by applicable law;
4.5.12. use the Services or the Website in any manner that could damage, disable, overburden, or impair it, including, without limitation,
4.5.13. using the Services or the Website in an automated manner;
4.5.14. modify, adapt, translate or create derivative works based upon the Services and Website or any part thereof, except and only to the extent that that this is permissible by applicable law;
4.5.15. intentionally interfere with or damage operation of the Services or the Website or any other user’s enjoyment of it, by any means, including uploading or otherwise disseminating viruses, adware, spyware, worms, or other malicious code or file/ programme with contaminating or destructive features or which are designed to interrupt, destroy or limit the functionality of any computer resource;
4.5.16. use any robot, spider, other automatic device, or manual process to monitor or copy the Website without prior written permission;
4.5.17. take any action that imposes an unreasonably or disproportionately large load on our infrastructure/network;
4.5.18. use the facilities and capabilities of the Website to conduct any activity or solicit the performance of any illegal activity or other activity which infringes the rights of others;
4.5.19. use the Website to collect or obtain personal information, including without limitation, financial information, about other users of the Website, except and only as expressly provided in the Terms;
4.5.20. use the Services in a manner that results in or may result in complaints, disputes, reversals, chargebacks, fees, fines, penalties and other liability to us, a third party or you.
5) Information
5.1. While we use commercially reasonable efforts to facilitate provisions of the information, information on compliance deadlines for filing various tax returns and other statutory forms, status of your investments, etc on the Website, we are not responsible for any errors or omissions, or for the results obtained from the use of or reliance on this information. Specifically, certain links in Website may connect to other websites maintained by third parties over which we have no control. If you access such links, your use of the third party websites will be governed by the policies of such websites. We encourage you to review the terms and policies of such websites.
5.2. Any information, information on compliance deadlines for filing various tax returns and other statutory forms; relevant tax related news; and any other regulatory news made available through the Website is for general guidance on matters of interest only. In particular, impact of laws and regulations can vary widely based on the specific facts involved. Given the changing nature of laws, rules and regulations, and the inherent hazards of electronic communication, there may be delays, omissions or inaccuracies in such information. Accordingly, the information provided through or in relation to this Website is so done with the understanding that we are not herein engaged in rendering legal, accounting, tax, or other professional advice and services. As such, it should not be used as a substitute for consultation with professional accounting, tax, legal or other competent advisers. Before making any decision or taking any action, you should consult a professional advisor. You acknowledge that the provision of the Website or Services does not constitute the provision of any specific advice nor any other professional services or advice of any kind (including any tax services). Any use of the Website or Services (including reliance on any of the contents therein) is at your sole risk.
5.3. While we use reasonable efforts to facilitate the information made available through the Website is being obtained from reliable sources, we are not responsible for any errors or omissions, or for the results obtained from the use of or reliance on this information.
5.4. We do not make any representations as to the accuracy or any other aspect of information contained in other websites. All information made available through the Website is provided “AS IS”, with no guarantee, representation, or commitment of completeness, accuracy, timeliness or of the results obtained from the use of this information, and without warranty of any kind, express or implied, including, but not limited to warranties of performance, merchantability and fitness for a particular purpose.
6) Intellectual Property Rights and Ownership
6.1. We own the rights in the design, compilation, and look and feel of our Website. It also includes rights in all copyrighted works, trademarks, designs, inventions, and other intellectual property. Subject to compliance with these Terms, we grant you a non-exclusive, non-transferable, non-sub licensable, royalty-free, revocable, and limited access to use the Website and the Services in accordance with these Terms.
6.2. You agree not to copy, distribute, modify or make derivative works of any of our content or use any of our intellectual property rights in any way not expressly permitted by us.
6.3. We may provide you with summary of the news or information that is already available in the public domain. Further we may provide you an electronic link to the original source of such news or information. Upon clicking the electronic link, you may be directed to the website of a third party who has published that news or information. We do not own any intellectual property rights in the information published by such third party.
6.4. Use of data: Notwithstanding anything to the contrary contained herein, when you enter or upload your data onto the Website, you expressly agree, covenant, consent and grant us, our Partners, our third party service providers and our group companies, affiliates, all rights, licences and consents to host, use, copy, transmit, process, store, share, analyse, display, make derivations, and back up all data you submit to us through our services and as required by us including but not limited to personal data and any other data relating to financial information of yourself and others, and further to: (a) enable you to use the Website and avail the Services including the services provided by our partners, third parties and affiliates; (b) allow us to improve, develop and protect our Services; (c) create, market or provide new services through us or our Partners, and affiliates; (d) communicate with you about our Website and the Services; and (e) send you information we think may be of interest to you. You agree, represent and warrant that you have and you will maintain, all rights to allow us, our Partners and/ or any third party service providers, and our affiliates, to host, use, compile, copy, transmit, process, store, share, analyse, display, make derivations, and back up all your data and retain aggregated customer data, including without limitation in combination with data of other users. The terms of use and sharing of such data are set out in our Privacy Policy https://clear.in/meta/privacy.
6.5. Data loss: Data loss is an unavoidable risk when using any technology. You are responsible for maintaining copies of your data entered into the Website or for availing the Services.
6.6. No compensation: Whatever the cause of any downtime, access issues or data loss, your only recourse is to discontinue using the Website or the Services.
7) Know your Customer/ Client Requirements
7.1. You agree and provide your express consent to provide certain information and documents that may be necessary to ascertain your eligibility to use the Website or avail the Services including but not limited to your KYC Documents to us, to entities for whom we act as a technology facilitator and Website provider including but not limited to Right Horizons , to online payment gateways, operators and aggregators, and, or to our affiliates to use, copy, transmit, process, store, share, analyse, make derivations, and back-up such KYC Documents and information. For the purpose of these Terms, ‘KYC Documents’ shall mean to include mobile number, mother’s name, father’s name, email address, password, date of birth, gender, PAN, signature, marital status, nominee details, cancelled cheque, photograph and video recording, etc. and other information which may be sought either during Sign-up or at any stage later. You agree and warrant to provide valid, true, complete, and up-to-date KYC Documents. You acknowledge and agree that any incorrect or misleading information provided shall constitute a material breach of these Terms.
7.2. We may use your personal data and in order to provide Services to you. Your personal information and KYC documents may be processed by or transferred or disclosed to and/or by third parties like AMC’s, RTA’s (Registrar and Transfer agents), KYC Registration Agency (“KRA”), payment gateways, statutory bodies or agencies, or third-party service providers & Strategic Partners etc.
8) Communication Policy
8.1. You agree to receive communications from us regarding: (i) information relating to use of the Website or Services; (ii) information about the Company and the Services; (iii) promotional offers and services from the Company and our Partners and third party partners, and (iv) any other matter in relation to the Services. In case you access the Website on behalf of a third party (after obtaining their prior consent), you acknowledge and agree that we are permitted to send any or all of the above communications to your customers or other third parties whose information you have made available on the Website.
8.2. We may send alerts to the mobile phone numbers provided by you, either of yourself or your customers or any third parties, via e-mail, SMS, WhatsApp messages or push notifications or any other means. If your mobile number is registered in the Do Not Disturb (“DND”) list of Telecom Regulatory Authority of India, you may not receive SMS from us. In such case, you will be responsible for taking all steps to deregister from the DND list and will not hold us liable for non-receipt of SMS.
8.3. We shall not be under any obligation to confirm the authenticity of the person(s) receiving the alert. You cannot hold the Company liable for non-availability of the SMS/email alert/push notifications service in any manner whatsoever.
8.4. The SMS/e-mail alert/push notification service provided by us is an additional facility provided for your convenience and that it may be susceptible to error, omission and/or inaccuracy. You shall not hold the Company liable for any loss, damages, claim, expense including legal cost that may be incurred/suffered by you on account of the SMS/e-mail alert/push notification facility.
8.5. The clarity, readability, accuracy and promptness of providing the SMS/e-mail alert/push notification service depend on many factors including the infrastructure and connectivity of the network service provider. We shall not be responsible for any non-delivery, delayed delivery or distortion of the alert in any way whatsoever.
8.6. You understand that the Company cannot and does not guarantee or warrant that filesavailable for download through the Website will be free of viruses, worms or other code that may be damaging. You are responsible for implementing procedures to satisfy your particular requirements of internet security and for accuracy of data input and output.
9) Third party Services on the Website
9.1. Our Website includes products and services made available by third party service providers. These third party service providers may have additional terms that apply to you. You agree to be bound by such other additional terms. Third-party products and services are subject to terms and conditions and privacy policies set by their providers. These include how the provider will use your data that you make available to them. The descriptions of third-party products and services that we publish, and any associated links, have been provided to us by the providers. The providers are solely responsible for any representations contained in those descriptions. We don’t endorse or assume any responsibility for third-party products or services.
9.2. We make no representations and hereby expressly exclude all warranties and liabilities arising out of or pertaining to such third-party services, including their accuracy or completeness. Further, all intellectual property rights in and to third party services are the property of the respective third parties.
10) Termination of Access to the Website
We may terminate or suspend your access to Website or access to all or any of data: (i) at our discretion; (ii) if you fail to comply with these Terms or the Privacy Policy; (iii) in case of inactivity for long periods; or (iv) in case of any fraud, insolvency or bankruptcy in relation to you. You agree that our right to terminate does not depend on whether you breach these Terms or not.
11) Warranties and Disclaimers
11.1. We are not and will not be responsible for any claim or for any damages suffered, whether by you, the third parties of the Users whose information is recorded on the Website, or any other person or party, that are related, directly or indirectly, to or arise out of the same including any payments made by you or by any third parties of the User using the payment link generated using the Website.
11.2. Your Use Of The Website And The Services Is At Your Sole Risk. The Website, The Services Are Provided On An “as Is” And “as Available” Basis. Except As Otherwise Expressly Provided In These Terms, We, Our Partners, And Their Respective Officers, Directors, Employees, Agents And Other Representatives, Expressly Disclaim All Warranties Of Any Kind, Whether Express Or Implied, Including, But Not Limited To The Implied Warranties Of Merchantability, Fitness For A Particular Purpose And Non-infringement. Without Limiting The Generality Of The Foregoing, We Make No Warranty That: (I) The Website Or The Services Will Meet Your Requirements; (Ii) The Website Or The Services Will Be Uninterrupted, Timely, Secure, Or Error-free; (Iii) Information That May Be Obtained Via The Website Or The Services Will Be Accurate Or Reliable; (Iv) The Quality Of Any And All Products, Services, Information Or Other Material, Including All Merchandise, Goods And Services, Obtained Or Purchased By You Directly Or Indirectly Through The Website Or The Websites Will Meet Your Expectations Or Needs; And (V) Any Errors In The Website Or The Websites Will Be Corrected.
11.3. You acknowledge and agree that certain Services provided are further dependent on the third parties including that of the government agencies and, or statutory authorities. You agree that we shall not be liable or responsible for any discrepancy in the Services owing to delay or failure of any activity by any such third parties. The delay or failure may be as a result of, network or connectivity failure, device or application failure, or any other technical or non-technical error of any nature, whether foreseen or unforeseen.
12) Exclusion of Damages
We Shall Not Under Any Circumstances Be Liable For Any Damages Of Any Kind Arising Out Of, In Connection With Or Relating To The Use Of Or Inability To Use The Service Or Website, Including Any Liability: (I) As A Publisher Of Information; (Ii) For Any Incorrect Or Inaccurate Information Or Any ‘bug’ Of The Website Or The Services; (Iii) For Any Unauthorized Access To Or Disclosure Of Your Transmissions Or Data; (Iv) For Statements Or Conduct Of Any Third Party On Or Via The Website; (V) For Any Disputes Between Users Of The Website Or The Services, Or Between A User Of The Website Or The Services And A Third Party; Or (Vi) For Any Other Matter Relating To The Website Or The Services, Or Any Third Party. This Is A Comprehensive Limitation Of Liability That Applies To All Damages Of Any Kind, Including Any Direct, Indirect, Special, Incidental Or Consequential Damages, Whether Based On Breach Of Contract, Breach Of Warranty, Tort (Including Negligence), Product Liability Or Otherwise, Even If An Individual Advises Us Of The Possibility Of Such Damages. The Limitations Of Liability Set Forth Herein Are Fundamental Elements Of The Basis Of The Bargain Between The Company And You. The Products, Information And Services Offered On And Through The Website Or The Services Would Not Be Provided To You Without Such Limitations.
13) Indemnification
13.1. Notwithstanding anything contained in this Agreement, you agree to defend, indemnify and hold harmless to us (and its affiliates, officers, directors and employees) upon demand from and against any and all damages, actions, proceedings, claims, demands, costs, losses, liabilities, diminution in value, loss of earnings, profits and revenue, opportunity costs, expenses (including court costs and reasonable attorneys’ legal fees) in connection with, arising out of, or in relation to (i) breach or non-compliance of its obligations, consents, grants, undertakings, representations or warranties under these Terms, and (ii) misrepresentation, negligence, fraud, wilful concealment and misconduct (iii) misuse of the Services and Website for any illegal or unauthorised purposes; (iv) any injuries to persons or damage to property, body, business character, reputation including theft, resulting from your acts or omissions; (v) any claims by a third party on Company for the acts committed or omitted by you; and (vi) any violation of applicable law.
13.2. You agree that any violation by you will constitute an unlawful and unfair business practice, and will cause irreparable harm to us and/ or its Partners and third party service providers, as the case may be, for which monetary damages would be inadequate, and you consent to us obtaining any injunctive or equitable relief that they deem necessary or appropriate in such circumstances. These remedies are in addition to any other remedies that we may have at law or in equity. If we takes any legal action against you as a result of your violation of these Terms, they will be entitled to recover from you, and you agree to pay, all reasonable attorneys’ fees and costs of such action, in addition to any other relief that may be granted.
14) Miscellaneous
14.1. Notice: All notices, requests, demands, approvals, requests for approvals or other communications under the Terms shall be in writing. Notice will be sufficiently given for all purposes as follows: (i) upon delivery when personally delivered to the recipient, (ii) upon receipt when mailed by certified mail (iii) upon delivery when delivered by recognized international overnight courier, and (iv) upon receipt when sent by fax with confirmation.
14.2. Merger/Modification: Each Party acknowledges that it has read the Terms, it understands it, and agrees to be bound by its terms, and further agrees that this is the complete and exclusive statement of the Terms between the Parties, which supersedes and merges all prior proposals, understandings and all other agreements, oral and written, between the Parties relating to the Terms.
14.3. Governing Law and Jurisdiction: These Terms shall be governed by and construed and enforced in accordance with the laws of India. Any controversies, conflicts, disputes, or differences arising out of these Terms shall be resolved by arbitration in Mumbai. The tribunal shall consist of 1 (one) arbitrator appointed by us. The language of the arbitration shall be English. The parties to the arbitration shall keep the arbitration confidential and not disclose to any person, other than on a need to basis or to legal advisors, unless required to do so by law. The decision of the arbitrator shall be final and binding on all the Parties hereto. Subject to other provisions in this Clause, courts in Mumbai shall have exclusive jurisdiction over all issues arising out of these Terms or the use of the Services.
15) Investment Activity Caution and Advisory
Investment in the securities market (including mutual fund investments) are subject to market risks, please read all investments, offer and scheme-related documents carefully, before investing. For the purposes of these Terms, the term “Offer Document(s)” shall refer to a collective term for Offer Document, Scheme Information Document, Statement of Additional Information, Key Information Memorandum, issued by the AMC that manages the mutual fund or the issuer of the relevant financial product. There is no guarantee for any returns on investments made in mutual fund scheme(s). Past performance of mutual funds/schemes do not indicate the future performance of the schemes and may not necessarily provide a basis of comparison with other investments.
Severability: If any provision of the Terms is invalid under any applicable statute or rule of law, it is to that extent to be deemed omitted and all other terms and provisions of the Terms shall nevertheless remain in full force and effect so long as the economic or legal substance of the transactions contemplated hereby is not affected in any manner materially adverse to any Party. Upon such determination that any term or other provision is invalid, illegal or incapable of being enforced, the Parties shall negotiate in good faith to modify the Terms so as to effectuate the original intent of the Parties as closely as possible in an acceptable manner in order that the transactions contemplated hereby are consummated as originally contemplated to the greatest extent possible.
Waiver: A waiver by either Party of any terms or conditions of the Terms in any instance shall not be deemed or construed to be a waiver of such term or condition for the future, or of any subsequent breach thereof. All remedies, rights, undertakings, obligations and agreements contained in the Terms shall be cumulative, and none of them shall be in limitation of any other remedy, right, undertaking, obligation or agreement of either Party.
Relationship of Parties: The Parties are not employees, agents, partners or joint venturers of each other. You shall not have the right to enter into any agreement on behalf of us.
Entire Terms: The entire understanding between the Parties hereto relating to the subject matter hereof is contained herein and the Parties make no warranties, representations or undertakings hereto except as expressly provided herein.
Assignment: Notwithstanding anything contained herein, you agree and covenant that we may, at our sole discretion, be entitled to assign rights and obligations under this Terms to any of its affiliates or to any entity, and in such case, such affiliate or entity shall be entitled to enforce these Terms.
Survival: Notwithstanding any termination, cancellation or expiration of the Terms, the provisions hereof that are intended to continue and survive, shall continue and survive.
Expenses: Except as otherwise specified in the Terms, all costs and expenses, including fees and disbursements of counsel, financial advisors and accountants, incurred in connection with the Terms and the transactions contemplated in the Terms shall be paid by the Party incurring such costs and expenses.
Force Majeure: Neither Party shall be liable for a failure or delay in performing any of its obligations under the Terms if, but only to the extent that, such failure or delay is due to causes beyond the reasonable control of the affected party, including, but not limited to (1) acts of God; (2) fire or explosion (except to the extent caused by the negligence or willful misconduct of the affected party); (3) unusually severe weather; (4) war, invasion, riot, or other civil unrest; (5) governmental laws, orders, restrictions, actions, embargoes, or blockages; (6) national or regional emergency; and (7) injunctions, strikes, lockouts, labor trouble, or other industrial disturbances; provided that the party affected shall promptly notify the other of the force majeure condition and shall exert reasonable efforts to eliminate, cure, or overcome any such causes and to resume performance of its obligations as soon as practicable.
Maintenance of Records: You shall maintain the records independently (by way physical copies et cetera) and we reserve the right to seek copies of such records for our own use including record keeping. You acknowledge and agree that we shall have the right to retain your information for as long as it is deem fit and to be in compliance with applicable provisions of the law.
Fees: We reserves the right to charge fee for the Services and non-payment may result in denial of Services.
16) Additional Terms for Financial Products
The terms set out in this Section apply in addition to the Terms contained in Clauses 1 to 15, if the User opts for purchase and redemption of financial products.
16.1 The Company is an AMFI registered distributor (ARN code: ARN154352) of Mutual Funds and enables Users to purchase units of regular Mutual Funds, details of which may be made available on the Website. The data and information provided on the Website does not constitute advice and the Users should exercise independent judgment while making investment decisions. We, in no way, recommend the Users to invest in any particular product, and the risk and rewards resulting from such investment are to the sole account of the User.
16.3 We hereby clarify that we are not a mutual fund or an AMC. We merely provide a service to you to facilitate the transaction of investment in identified financial products. We will not be liable in any manner with respect to the mutual fund units allotted to you by the AMCs or the mutual funds purchased by you pursuant to execution services.
16.4 Money haven does not, and is not obliged to, offer all mutual fund schemes for investment. By limiting the number of schemes , we does not make any representation as to the quality, bona fides or nature of any AMC or mutual fund scheme, or any other representation, warranty or guaranty, express or implied in respect of such mutual fund schemes. Please invest in the schemes only after you have understood the performance, risks and other details relevant to the schemes to your satisfaction.
16.5 You hereby agree and acknowledge that the data and information provided on the Website does not constitute advice of any nature whatsoever, and shall not be relied upon by you while making investment decisions and you shall be solely responsible for any investment decisions and for the purchase of any mutual funds on the Website.
16.6 We will not be liable if your instructions are rejected by the bank or an AMC, Registrar & Transfer Agent (“RTA”) or any other third party. We further shall not be held responsible for non-availability or non-accessibility of the Website, or processing of instructions authenticated by your login credentials.
16.8 Definitions for the purposes of this Section:
16.8.1 “User” means any eligible person who invests or desires to invest in regular Mutual Funds through us.
16.8.3 “AMC” shall mean and include Asset Management Company.
16.8.5 “Mutual Fund” means a fund established in the form of a trust to raise monies through the sale of units to the public or a section of the public under one or more schemes for investing in securities including money market instruments or gold or gold related instruments or real estate assets.
16.8.6 “NAV” shall mean Net Asset Value.
16.8.7 “Offer Document” means the Statement of Additional Information (SAI) and Scheme Information Document (SID) to be issued for inviting subscription to Units of any Scheme, as amended from time to time and includes Key Information Memorandum (KIM).
16.8.8 “Registered User” (also referred to “I” or “We”) shall mean and include the Users who have an Account with the Company to avail Services or any part thereof, as provided on the Website.
16.8.9 “RTA” shall mean Registrar and Transfer Agent.
16.8.10 “Scheme(s)” means any scheme or schemes launched by an AMC from time to time.
16.8.11 “SIP” shall mean Systematic Investment Plans.
16.8.12 “STP” shall mean Systematic Transfer Plans.
16.8.13 “Unit Certificate/Account Statement” means a certificate/ account statement in any form issued to the holders of the Unit(s) under any Scheme of the Mutual Fund.
16.8.14 “UnitHolder” means a person who is the registered holder of Unit/Units of any Scheme of the Mutual Fund.
16.8.15 “Unit” means the interest of the investors in any Scheme consisting of each Unit representing one undivided share in the assets of that Scheme as evidenced by a unit certificate/ account statement.
16.9 Registration of the User
16.9.1 Access to investment Services will be granted only once user is Registered with one of our partner e.g fundzbazar, sharekhan,etc.
16.9.2 User shall provide the required details and the documents for the purpose of the registration including:
(a) A valid email address has to be provided and a password has to be created.
(b) PAN Card details and a copy of the PAN card
(c) Mobile Number
(d) Aadhaar Card Details
(e) Know-Your-Client (“KYC”) details (as required for provision of services)
(f) Bank Account Details
(g) Address proof
(h) Photograph
(i) Signature
16.9.3 The above provided information/details shall be uploaded by the User in soft copy form on our partners Website at the time of enrolment. Once the information is received by the partner, and upon completion of the attestation requirements (if applicable), the documents may be provided by partner to the concerned regulatory authority/Mutual Fund company for the purpose of opening an Account for the transaction to be made by the User.
16.9.4 During the registration process, the User will be prompted to sign on the mobile screen. The Website may capture the signature of the User and will utilize only for the purpose of completing the registration formalities – namely, KYC form, account opening form and for account opening formalities with intermediaries (for instance, stock exchanges), as may be applicable from time to time. The signature does not allow the partner to undertake any transactions.
16.9.5 In the event of any discrepancy being found in any of the information provided by the User, for example, information in any of the documents provided does not match with the corresponding documents, such mismatch may lead to the rejection of the documents submitted by the User and an account will not be opened. The documents provided and/or any such personally identifiable information provided to us , shall be stored and transferred by it in accordance with the privacy policy of the Website.
16.9.6 User agrees that any and / or all information that may be provided to the us from time to time, including but not limited to contact information, address and tax related information or any other information required under existing or future KYC or other norms and laws, may be shared by us with the regulatory authorities/Mutual Funds /AMCs or their respective authorized service providers, auditors, legal and tax consultants in compliance with the User terms, the Privacy Policy and the extant legal provisions from time to time.
16.9.7 The Account of the User will be activated after the we our our partner/service provider completes the verification process on the information and documents provided at the time of enrolment and in accordance with the KYC guidelines issued under the applicable laws.
16.9.8 To the extent permitted under applicable laws, all information submitted by the User to us or our partner (except for the personal identifiable information and KYC documentation provided by the User, which shall be by virtue of its nature, be deemed to be proprietary information of the User) whether through the Websites or otherwise shall be deemed to be the property of us, and it shall be free to use any ideas, concepts, know-how or techniques provided by such users at the Website, in any manner whatsoever.
16.10 Transaction
16.10.1 Subject to applicable laws, transactions (in relation to SIPs and STPs) will be pursuant to the Registered User executing the instructions, in the manner and form as prescribed by our partners/service provider on their Website from time to time. The instructions will be applicable to all SIP, STP transactions whether presently existing or to be opened in future. User agrees that, upon granting such instructions for SIP, STP transactions, User will be bound by the terms of the relevant SIP and STP scheme of the Mutual Fund to which the Registered User subscribes.
16.10.2 The Registered User acknowledges that any transaction done or purported to be done by User on a business day would be processed within a reasonable time in accordance with the applicable laws, depending on the process adopted by the concerned AMC. The Registered User will be allotted Mutual Fund units by the respective AMC in accordance with the SEBI regulations and the relevant AMC’s norms, applicable for NAV and for such allotment. This will be applicable to switch and redemption transactions also.
16.10.3 While we shall make every effort to ensure adherence to the above timelines, it shall in no way be responsible or held liable for any delay thereof, including for loss of interest and / or opportunity loss and / or any loss arising due to movement in NAV or any other losses, liabilities, damages, costs, charges, expenses which the investor(s) may sustain, incur or suffer or be put to or become liable or incur directly or indirectly by reason or as a consequence of any delay thereof.
16.10.4 Purchase requests made through the partners/service providers Website shall be processed by the respective Mutual Funds/ AMCs only after funds sufficient to cover the purchase price and other costs and charges have been received by the respective Mutual Funds/ AMCs. Payments towards the purchase price and other costs and charges shall be made by the Registered User through NEFT (National Electronics Funds Transfer) or the payment gateway or other electronic means made available by our partner/service provider on their Website. If for any reason the Mutual Fund/ AMC is unable to allow a transaction for purchase or redemption of the full quantity of Units such as transacted by a Registered User through the Website, the respective Mutual Fund shall be entitled to process a lesser quantity of units being purchased or redeemed (as the case may be) by such Registered User. In such case, the weshall not be responsible for the non-execution of transactions for the entire quantity or the remaining quantity of units.
16.10.5 The Registered User agree and acknowledge that Services provided herein are presently available in respect of select Mutual Funds only with AMCs whom the we/our partners or service providers have empanelled.
16.10.6 Not all the products offered are available in all geographic areas and a User may not be eligible for all the products offered by us in case the User is a resident of such geographic area. We and the AMCs reserves the right to determine the availability and eligibility for any product or service.
16.10.7 We shall not be liable if any transaction does not fructify or may not be completed or for any failure on part of us to perform any of our obligations under these terms and conditions or those applicable specifically to its services/facilities if performance is prevented, hindered or delayed by a force majeure event and in such case its obligations shall be suspended for so long as the force majeure event continues.
16.10.8 There may be an exit load, stamp duties and taxes applicable to certain Mutual Fund schemes which is mentioned in the respective offer documents including SID KIM and addendums issued thereto from time to time (collectively referred to as “scheme related documents”) or under the applicable laws. Such exit loads, duties and taxes will be borne by the User. The User acknowledges that it/he/she has read all the scheme related documents before making any transaction.
16.10.9 Investments made by persons from abroad may not be permitted in certain mutual funds. We / our respective partners shall not be liable for rejection of an application by Mutual Funds, where the investor is from abroad or such other prohibited investors as may be specified in the respective scheme related documents from time to time.
16.10.10 The Registered User acknowledges that the Units of the Scheme shall be allotted, redeemed or switched, as the case may be, by the respective Mutual Funds at the applicable NAV of the concerned Mutual Fund Scheme as provided by Mutual Funds and consistent with the terms of the Scheme. However we shall not be liable for any loss that may be suffered by the Registered User as a result of incorrect NAV applied on the Units allotted to them by the Mutual Fund.
16.10.11 The Registered User acknowledges that any transactions done on a gazetted holiday/ day on which the AMCs are not functioning or after the cut-off time , would be processed on the next business day and the NAV would be applicable as per the respective scheme related documents. Subject to applicable laws, the cut-off timings for the Website may be prior to the statutory cut-off timing specified under the applicable laws and the SID for operational convenience.
16.10.12 The Registered User acknowledges that transactions once placed cannot be cancelled. However, they can withdraw money by redeeming the Mutual Fund Units. Upon such withdrawal, the settlement amount towards the Mutual Fund or the Units of Mutual Fund shall be credited to the registered bank account of the Registered User within the time period prescribed under the applicable laws.
16.10.13 The Registered User acknowledges that any directions pertaining to all transactions including withdrawal, STP and switch transactions provided by them from their Account shall be considered as the bona-fide order placed by the User
16.10.14 The Registered User acknowledges that they have read and understood the contents of the Mutual Fund Scheme related documents and the details of the scheme and they have not received or been induced by any rebate or gifts, directly or indirectly, in making investment. They hereby declare that the amount invested/to be invested in the Scheme(s) of Mutual Fund (s) is derived through legitimate sources and is not held or designed for the purpose of contravention of any act, rules, regulations or any statute or legislation or any other applicable law or any notifications, directions issued by any governmental or statutory authority from time to time.
16.10.16 we shall not be liable for any direct or indirect loss or damage caused by reason of failures or delay by the AMC/ Mutual Fund to deliver any Units purchased, even though payments have been made for the same, or failure or delay in making payment in respect to any Units sold, though they may have been delivered and the Registered User shall hold us harmless and free from any claim in respect thereof. We shall also not be liable for any delay, failure or refusal of the Mutual Fund in registering or transferring Units to the Registered User or for any interest, dividend or other loss caused to them arising therefrom.
16.10.17 The Registered User acknowledges that all orders for purchase or redemption of any financial products made through the Registered User’s account will be deemed to have been given by the Registered User, and the Company will not be responsible for any unauthorised usage of the Registered User’s account.
16.10.18 We may implement surveillance mechanisms on any of the financial products or limits on subscription to financial products through the Website. Further, we reserve the right to reject any order placed through the Website for any reason, including as a result of surveillance mechanisms implemented by us.
16.11 Using KYC data of the investors
Registered User hereby allow us to utilize their KYC information such as identity (name, PAN, age etc.), address and signature for sending it to the AMC for the purpose of availing the Services (including, without limitation validation of Account) and to comply with the legal and regulatory requirements. The Registered User agree and understand that they shall be solely liable to inform the us / AMC in case of any change in their KYC information including change in signature/ signatories etc.
16.12 User Undertaking
The Register User hereby acknowledge, agree and undertake that-
16.12.1 “I have read, understood and agreed to the terms of the relevant Offer Document / Scheme Information Document of the respective Scheme/s, Key Information Memorandum, such declarations, undertakings, risk factors and disclaimers as contained in the Offer Document / Scheme Information Document of the Schemes of the Mutual Fund and all changes thereto as informed by the AMC from time to time.
16.12.2 The amount invested in the Scheme is derived through legitimate source only and is not designed for the purpose of the contravention of any Act, Rules, Regulations, Notifications or Directives of the provisions of the Income Tax Act, Anti Money Laundering Laws, Anti-Corruption Laws or any other applicable laws enacted by the Government of India from time to time.
16.12.3 I will provide copy of the Permanent Account Number (PAN) at the time of investment and produce the original PAN Card for verification to the Company, upon the Company’s request. I expressly authorise the Company to share my PAN to the AMC/Authorized Registrar.
16.12.4 I have not received nor have been induced by any rebate or gifts, directly or indirectly in making this investment.
16.12.5 I/We confirm that the funds invested in the Scheme, legally belongs to me/us. In the event that the KYC process is not completed by me/us to the satisfaction of the Mutual Fund, (I/we hereby authorize the Mutual Fund, to redeem the funds invested in the Scheme, in favour of the applicant, at the applicable NAV prevailing on the date of such redemption and undertake such other action with such funds that may be required by the law.) The Company has disclosed to me/us all the commissions (trail commission or any other mode), payable to it for the different competing Schemes of various Mutual Funds amongst which the Scheme is being recommended to me/ us.
16.12.6 I/We confirm that I/We do not have any existing Micro SIP/Lumpsum investments which together with the current application will result in aggregate investments exceeding INR 50,000 (Indian Rupees Fifty Thousand) in a year (Applicable for Micro investment only.) with Axis AMC.
16.12.7 For NRIs only – I / We confirm that I am/ we are Non-Residents of Indian nationality/origin and that I/We have remitted funds from abroad through approved banking channels or from funds in my/ our Non-Resident External / Non-Resident Ordinary / FCNR account.
16.12.8 I/We confirm that details provided by me/us are true and correct.
16.13 No Objection from The User
The Registered User acknowledges and grants no objection to us to perform or place transaction requests for them on the Website and at their own risk and cost, all or any of the following acts, deeds matters and things:
16.13.1 To forward the Registered User’s transaction data and requests to the respective Mutual Funds/ AMCs with respect to the instructions and orders of sale, purchase, transfer, splitting and consolidation of Mutual Funds units.
16.13.2 To transmit to the Mutual Fund, information relating to user nomination/changes in investment plan/ any other changes made through the online Website.
16.13.3 To obtain and forward to the AMC, its Authorised Registrar user’s information as available in the KYC records, including user signature(s).
16.13.4 To obtain all documents of its Users in terms of the applicable ‘Anti-Money Laundering / Combating Financing of Terrorism’ requirements, including KYC documents / Power of Attorney as may be required by AMCs from time to time.
16.13.5 To contact the Registered User regarding matters pertaining to the operation of the User’s Account including, but not limited to, for servicing of the User’s requests, communication of special offers, new product launches and product recommendations. You agree that you hereby provide the Company express consent to override any registration for Do Not Call (“DNC”) / National Do Not Call (“NDNC”).
16.14 Holding pattern and User details:
16.14.1 Registered User acknowledges and agrees that the investments holding pattern of the Registered User, as reflected in the Website, is deemed to be the holding pattern of the User(s). Please reach out to us at support@cleartax.in in case of any discrepancies.
16.14.2 The other requisite data (which is not part of the form) required to be reported to the AMC will be extracted from Account details maintained for the First holder.
16.14.2 The other requisite data (which is not part of the form) required to be reported to the AMC will be extracted from Account details maintained for the First holder.
16.15 Account Statement:
You agree and acknowledges that it shall be the obligation of the AMC and not us to regularly send the Registered User such communications as required under the SEBI Regulations.
16.16 Nomination:
We recommend that you provide us and the AMC of the relevant mutual fund with the details of your nominees at the time of creation of your Account. In case you do not wish to nominate any individual, you must provide us a separate confirmation stating your intention for non-nomination, failing which the form may be rejected at the discretion of the AMC/Mutual Fund.
16.17 Fees and Charges
16.17.1 While currently, investement Services offered by the us are free of transaction charges, you acknowledge that we reserves the right to charge fees in the future for it or any other services offered by it. Under such circumstances, you have the option to transfer your assets out of your Account. The fees and charges levied will be subject to the terms of the relevant payment gateway service provider,
16.17.2 You agree and understand that any such charges/fees that the Company may choose to levy will be in addition to those levied by the Mutual Funds, if any. All fees, charges and reimbursement of expenditure shall be paid or made in full by you without any counter claim, set off or withholding. All your liabilities and obligations hereunder to the Company, and the Mutual Fund/AMCs/trustees of the AMC shall be joint and/or several, as the case may be.