These Terms and Conditions (“Terms and Conditions”) is a legal agreement between you, the user (“User”/ “You”/“Your”, which terms shall include the persons that access, use, and/or participate in the Platform in any manner), and Zeo Fin Technology Private Limited (hereinafter referred to as “We”, “Us”, “Company” or “Our”), the owner of website located at https://jify.co/ (“Website”) and “JIFY” mobile application available on Apple AppStore and Google Play Store (“App”). Where the context so requires, the Website and the App shall be collectively referred to as the “Platform”.
- “Applicable Law” means all laws, ordinance, statutes, rules, orders, decrees, injunctions, licenses, permits, approvals, authorizations, consents, waivers, privileges, agreements and regulations of any governmental authority/court of law having jurisdiction over the relevant matter including any interpretations thereof, in effect.
- “Compensation Entitlement” shall mean the compensation / salary receivable by the Employee from the Partner Employer for any given month in the financial year, as per the terms of the employment agreement entered into by Employer and the Employee.
- “Employee” shall mean any person on the pay-roll of the Partner Employer and employed for a wage /salary, as per the terms and conditions of the employment agreement entered into by the Employer and the Employee.
- "Facility Agreement" shall mean the loan agreement or the terms and conditions between Lending Partner and the User(s) for grant of Finance Facilities. You acknowledge that the Company may be a party to the Facility Agreement, to the extent the Company is providing its Services in relation to the Finance Facility.
- “Equifax” shall refer to Equifax India and Equifax Analytics Private Limited.
- “Finance Facilities” shall mean (a) loan granted by the Lending Partner pursuant to the application by the Users through the Platform; or (b) loans provided by the Lending Partner, subject to the applicable terms and conditions of the Facility Agreement.
- “Jify Card” shall mean the co-branded pre-paid payment instrument issued to the User by the card issuer in collaboration with the Company.
- "Lending Partner" shall mean non-banking financial company or banks with whom the Company has collaborated for the provision of Financing Facilities to the Users which would sanction, process and grant the Finance Facility to the Users, through the Platform.
- "User Data" shall mean any data, information, documents or materials submitted by You with the Company prior to or during the use of the Services.
- You must be 18 (eighteen) years of age or older to visit or use the Platform in any manner. By visiting the Platform or accepting these Terms and Conditions, You represent and warrant to the Company that You are 18 (eighteen) years of age or older, and that You have the right, authority and capacity to use the Platform and agree to and abide by these Terms and Conditions. You also represent and warrant to the Company that You will use the Platform in a manner consistent with any and all Applicable Laws in addition to these Terms and Conditions.
- You represent, acknowledge and agree that: (a) all registration information that You submit is truthful, current, complete and accurate, (b) You will maintain the currency, completeness and accuracy of such information, and (c) Your use of the Platform and the Services offered through the Platform do not violate any Applicable Law or regulation applicable either to You, the Platform or the Company. Your User Account may be terminated without warning if We, at Our discretion, believe that You are under the age of 18 (eighteen) or that You are not complying with any Applicable Laws or these Terms and Conditions.
DESCRIPTION OF SERVICES
- The Platform is an intermediary which connects its Users with financial services providers, including the Lending Partner to avail various financial products and services, including the Finance Facilities (“Services”). However, We may at any time modify, alter, amend, increase or decrease the scope of Services.
- As a part of the Services, We collaborate with various third-party entities (“Partner Employers”) and facilitate provision of Finance Facilities to its Employees. We work with such Partner Employers and provide its employees access to the Platform through which they can avail the Services offered by us.
- The User will have option to avail Finance Facilities through the Platform against their Compensation Entitlement and subject to compliance with the terms and conditions mentioned on the Platform and/or other terms as may be stipulated by the Lending Partner while granting Finance Facility
ACCEPTANCE OF TERMS
- In addition to the Terms and Conditions, which governs Your access and use of the Platform, Your access to, use of, and participation in the Platform is subject to all applicable regulations, guidelines and additional policies that the Company may set forth from time to time, including without limitation, any product specific policy and any other restrictions or limitations that the Company publishes on the Platform (the “Additional Policies”). You hereby agree to comply with the Additional Policies and Your obligations thereunder at all times. You hereby acknowledge and agree that if You fail to adhere to any of these Terms and Conditions or the documents referenced herein, including any Additional Policies, the Company, in its sole discretion, may terminate Your User Account at any time without prior notice to You as well as initiate appropriate legal proceedings, if necessary
FINANCIAL FACILITY SERVICES
- You acknowledge and agree that the Finance Facilities are made available to you by the Company in collaboration with Lending Partners. The Finance Facilities provided by the Lending Partners are facilitated by the Company and the Company may, at its sole discretion choose to facilitate the Services availed by you from any of its Lending Partners. The Company reserves the right to change the Lending Partner for provision of any Services availed by you at its sole discretion. The Finance Facilities are granted by the Lending Partner at their sole discretion, subject to the User meeting their relevant eligibility criteria. Provision of any Finance Facility is subject to your acceptance of the terms and conditions specified under the Facility Agreement and payment of relevant charges. The charges may vary depending on the Services availed by You and the applicable charge shall be notified to You at the time of availing the Services.
- The Company has been appointed by Lending Partner to accept the application of Users for various Finance Facility. You may make an application on the Platform by providing such information as specified in the application form available on the Platform (“Application Form”).
- Once You verify and upload the User Data and/or other documents and details in the Application Form, we will process the same. Upon the completion of the document verification by Us, the Finance Facility may be sanctioned by Lending Partner to You, subject to fulfilling the eligibility criteria and other conditions set forth by Lending Partner for sanctioning the Finance Facility. Thereafter, You may be required to fill and upload additional documents as may be required by the Lending Partner for the purpose of granting the Finance Facility. We may collect the physical documents including signatures on those documents required for sanctioning and processing the Finance Facility. Upon the collection of necessary documents and completion of the application process, the Lending Partner and/or the Company may at their discretion provide You the Finance Facility.
- The terms and conditions governing Your use of Finance Facility, including the disbursement, repayment, charges and interest shall be as specified under the Facility Agreement.
- Repayment Terms. While terms of repayment shall be as set out under the Facility Agreement, by accepting these Terms and Conditions you acknowledge and explicitly consent that any amounts due on your Finance Facility may directly be collected by the Company and/or the Lending Partner from Your relevant Partner Employer. Subsequently, the Partner Employer may deduct such due amount from Your Compensation Entitlement. In case the Partner Employer does not make the repayment or makes payment of an amount lesser than the amount due on the Finance Facility availed by You, You hereby authorize the Company to directly collect such due amount from you, including by way of E-NACH mandate provided by You in accordance with the terms of Facility Agreement.
- You also acknowledge that any default on Your end in repayment of the amounts may impact your credit score, as per the applicable law and policies of the Third Party Lending Partner.
LICENSE TO USE
- The Company hereby grants You a non-exclusive, revocable, limited license to use the Platform in the manner and on the terms and conditions as set forth in these Terms and Conditions; provided, however, that (i) You will not copy, distribute, or make derivative works of the Platform in any medium without the Company’s prior written consent; (ii) You will not alter or modify any part of the Platform other than as permitted and as may be reasonably necessary to use the Platform for its intended purposes; and (iii) You will at all times act in accordance with the Terms and Conditions and in accordance with all Applicable Laws.
- You will need to create a User account (“User Account”) to visit /view and /or access and avail Services of the Platform. To create User Account, You must submit Your phone number, subsequent to which You will receive a One-Time-Password, using which you can access and avail the Services. However, certain Services may also be provided to you before creating the User Account.
- You shall be solely responsible for all activities that occur on Your User Account and You shall notify the Company immediately of any breach of security or any unauthorized use of Your User Account. Similarly, You shall never use another's User Account without the Company’s permission. You agree that You will not misrepresent Yourself or represent Yourself as another User of the Platform and/or the Services offered through the Platform.
- You hereby expressly acknowledge and agree that You (and not the Company) will be liable for Your losses, damages etc., (whether direct or indirect) caused by an unauthorized use of Your User Account. Notwithstanding the foregoing, You may be liable for the losses of the Company or others due to such unauthorized use and We will not be responsible for misuse of Your User Account by any third party, whether authorized by You or not.
- Account Policies:
You acknowledge and agree that You shall comply with the following policies (the “Account Policies”):
You shall not use any automated system, including but not limited to, “robots”, “spiders”, “offline readers”, “scrapers” etc., to access the Platform, for any purpose, without the Company’s prior written approval.
You shall not in any manual or automated manner, collect information, personal or otherwise, of any other User on the Platform including but not limited to, names, addresses, phone numbers, or email addresses, copying copyrighted text or content, or otherwise misuse or misappropriate the Platform’s information or content, including but not limited to, use on a “mirrored”, competitive, or Third Party Website, except with the prior written consent of the Company or through a lawful and valid communication with such other User through any valid communication channel provided on the Platform.
You shall not take any action that (i) unreasonably encumbers or, in the Company’s sole view, may unreasonably encumber the Platform’s infrastructure; (ii) interferes or attempts to interfere with the proper working of the Platform or any third-party participation on the Platform; or (iii) bypasses the Company’s measures that are used to prevent or restrict access to the Platform.
You shall not frame or hotlink or deep link any contents from the Platform.
RIGHTS OF THE COMPANY AND OBLIGATIONS OF THE USER
In allowing You to use the Platform in the manner intended herein, the Company shall have the following rights and You, as the User, shall have the corresponding obligations. The following list provided hereunder is illustrative in nature and shall be read in conjunction with, and not in derogation of, with the other rights of the Company and Your obligations, provided elsewhere in these Terms and Conditions or any documents referenced herein
- Verify the credentials of the User at the time of creation of a User Account, in a manner the Company deems fit;
- Store the trail of logins/logouts from the Platform so that an audit trail can be maintained for the purposes of security and compliance with Applicable Laws and these Terms and Conditions;
- Allow or disallow registration or creation, use or access of User Account of any User on the Platform, at its sole discretion, with or without cause and make such rules as may be required or deemed fit for the use of the Platform or Services in the event of disallowing or discontinuation of use or access of the User Account;
- Categorize, classify or sort the different Users of the Platform in such manner as it deems fit in order to advertise, market or brand the Services provided under or through the Platform.
- Provide, disclose or transfer such information and documents to any third parties including service providers, to provide their services through the Platform;
- Aggregate such data available on the Platform, including but not limited to information, documents, resumes, bio-data, web-crawling, master file or any other aggregated data set of skills, trends, domain knowledge or User preferences for use of the same by the Company for any lawful purpose whatsoever;
- Verify the credentials of the Users from time to time to authenticate or verify the User’s credentials and prevent impersonation or misuse of the User Account or the Platform. In the event of non-verification or invalidation of emails, credentials as provided in this clause, the Company will be entitled to take such corrective action as may be required to allow or disallow continued use of Platform or any part thereof;
- Set up payment systems to enable transactions on the Platform;
- Process, aggregate, analyze, benchmark, share, transfer or use the data in such manner as it deems fit;
- Undertake such actions as may be required with respect to monitoring, maintaining, operating the payment systems within the Platform including sending of invoices and bills on behalf of the Users who have provided Services under or through the Platform; and/or
- User undertakes to notify the Company, about the offering or receiving any products or services, which are illegal or offensive or prohibited under or not in compliance with Applicable Laws, rules and regulations prescribed by any regulatory authorities. User agrees and understands that Company reserves the right to terminate the access of User who is directly or indirectly receiving any services, which do not conform to Applicable Laws and regulations in force from time to time. User agrees to indemnify the Company against any claims, damages, litigation, loss caused due to non-compliance of this clause.
TERMS RELATED TO PAYMENTS
- User acknowledges and agrees that all payments made by Users on the Platform are facilitated by payment gateways and/or banks through the Platform (“Payment Service Providers”) and that all payments to be made for the Services obtained under or through the Platform shall be made through such Payment Service Provider.
- Taxes and Regulatory Compliance
You understand and agree that You are solely responsible for determining Your own tax reporting requirements in consultation with tax advisors, and that We cannot and do not offer tax advice to any User. You acknowledge and agree that the Company shall not be responsible or liable in any manner in relation to tax liability of a User for receipt of any income and gains from Services provided through the Platform.
While the Platform may contain features to facilitate regulatory filings by the User, all regulatory filings and compliance with Applicable Law shall remain the responsibility of the User. The Company shall not be responsible towards the User or any third party, including governmental authorities for failure of the User to comply with Applicable Law.
- The Platform shall provide information regarding third party website(s), affiliates or business partners and/ or contain links to their websites; and at times connect or redirect You to websites, apps, services and resources owned or controlled by third parties (“Third Party Websites”). However, the Company does not control or monitor such Third-Party Websites. Further, the Platform facilitates third parties to offer their services through the Platform (“Third Party Services”). Third Party Services on the Platform include without limitation payment processors, intermediary bank, credit rating agencies, KYC participants and other third parties with which the Company has partnered to provide Services on the Platform.
INTELLECTUAL PROPERTY RIGHTS
- User acknowledges and agrees that the Company owns all legal right, title and interest in and to the Platform, including any all patents, designs and drawings, trademarks, service marks, logos, domain names and utility models, copyrights, inventions, brand names and business names and any similar rights and the benefit (subject to the burden) of any of the foregoing (including applications for the grant of any of the foregoing and the right to apply for any of the foregoing in any part of the world) which subsist in the Platform (whether those rights happen to be registered or not, and wherever in the world those rights may exist).
- User further acknowledges that the Services may contain information which is designated confidential by the Company and that User shall not disclose such information without the Company's prior written consent. Unless User has agreed otherwise in writing with the Company, nothing in these Terms and Conditions gives the User a right to use any of the Company's trade names, trademarks, service marks, logos, domain names, and other distinctive brand features.
YOUR REPRESENTATIONS AND WARRANTIES
- You hereby represent, warrant, covenant and certify that: (a) You are a bonafide User (b) You have the authority to enter into these Terms and Conditions, (c) You agree to be bound by all terms and conditions of these Terms and Conditions and any other documents incorporated by reference herein and Applicable Law; and (d) You are not bound by any existing or past contracts or arrangement which would conflict with Your use, access and provisioning or obtaining of Services through the Platform and in the event any such conflict would hold the Company and its directors, officers, managers, members, employees, attorneys, agents, and successors in rights from any claims, demands, liabilities and damages (actual and consequential) arising due to such conflict.
DISCLAIMER OF WARRANTIES
- YOU AGREE THAT YOUR USE OF THE PLATFORM SHALL BE AT YOUR OWN RISK. TO THE FULLEST EXTENT PERMITTED BY LAW, THE COMPANY AND ITS OFFICERS, MANAGERS, MEMBERS, DIRECTORS, EMPLOYEES, SUCCESSORS, ASSIGNS, SUBSIDIARIES, AFFILIATES, SUPPLIERS, AND AGENTS DISCLAIM ALL WARRANTIES, EXPRESS, IMPLIED, STATUTORY OR OTHERWISE, AND MAKE NO WARRANTIES, REPRESENTATIONS, OR GUARANTEES IN CONNECTION WITH THIS PLATFORM, THE SERVICES OFFERED ON OR THROUGH THE PLATFORM. ANY INFORMATION OR MATERIAL CONTAINED OR PRESENTED ON THIS PLATFORM IS PROVIDED TO YOU ON AN “AS IS”, “AS AVAILABLE” AND “WHERE IS’ BASIS WITH NO WARRANTY, EXPRESS OR IMPLIED.
- THE COMPANY DOES NOT PROVIDE ANY WARRANTIES AGAINST ERRORS, MISTAKES, OR INACCURACIES OF DATA, CONTENT, INFORMATION, MATERIALS, SUBSTANCE OF THE PLATFORM, ANY UNAUTHORIZED ACCESS TO OR USE OF OUR SECURE SERVERS AND/OR ANY AND ALL PERSONAL INFORMATION AND/OR FINANCIAL INFORMATION STORED THEREIN
LIMITATIONS OF LIABILITY
- IN NO EVENT SHALL THE COMPANY, AFFILIATES OR ITS RESPECTIVE OFFICERS, MANAGERS, MEMBERS, DIRECTORS, EMPLOYEES, SUCCESSORS, ASSIGNS, SUBSIDIARIES, SUPPLIERS, ATTORNEYS OR AGENTS, BE LIABLE TO YOU FOR ANY DIRECT, INDIRECT, INCIDENTAL, SPECIAL, PUNITIVE, CONSEQUENTIAL OR EXEMPLARY DAMAGES (INCLUDING BUT NOT LIMITED TO LOSS OF BUSINESS, REVENUE, PROFITS, USE, DATA OR OTHER ECONOMIC ADVANTAGE).
- IN NO EVENT SHALL THE TOTAL AGGREGATE LIABILITY OF THE COMPANY, OR ANY OF THE ABOVE-REFERENCED RESPECTIVE PARTIES, ARISING FROM OR RELATING TO THE PLATFORM, EXCEED THE TOTAL AMOUNT OF FEES ACTUALLY PAID TO THE COMPANY BY YOU WITH RESPECT TO THE SERVICE UNDER WHICH SUCH LIABILITY AROSE.
INDEMNIFICATION AND RELEASE
MODIFICATIONS TO OR TERMINATION OF PLATFORM
- Modification or Cessation of Platform
The Company reserves the right at any time and from time to time to modify or discontinue, temporarily or permanently, the Platform (or any part thereof) with or without notice and in its sole discretion. You agree that the Company shall not be liable to You or to any third party for any modification, suspension or discontinuance of the Services offered by the Company.
- Termination by Company
User hereby acknowledge and agree that the Company, in its sole and absolute discretion, has the right (but not the obligation) to delete, terminate, or deactivate User Account, block User’s email or IP address, cancel the Platform or otherwise terminate User’s access to or participation in the use of the Platform (or any part thereof), immediately and without notice, for any reason, including without limitation, User Account inactivity or if the Company believes or has reason to believe that the User has violated any provision of the Terms and Conditions.
- Effect of Termination
Upon termination of the User Account, User’s right to participate in the Platform, including, but not limited to, User’s right to receive any rental shall automatically terminate. In the event of termination, the User Account will be disabled and the User may not be granted access to the User Account or any files or other data contained in User Account. Notwithstanding the foregoing, residual data may remain in the Company’s system. Upon termination of Service, User’s access to the Platform shall be immediately revoked. The provisions of these Terms and Conditions which by their very nature are intended to survive termination, shall survive expiration or termination of the Platform or User Account.
- Governing Law and Jurisdiction
The Terms and Conditions shall be governed in all respects by the laws of India and any legal proceeding arising out of this Agreement will occur exclusively in the courts located in Delhi, India.
The Company may display advertisements and promotions on the Platform. The manner, mode and extent of advertising by the Company on the Platform are subject to change and the appearance of advertisements on the Platform does not imply endorsement by the Company of any advertised products or services. You agree that the Company shall not be responsible or liable for any loss or damage of any sort incurred by You as a result of any such dealings or as the result of the presence of such advertisers on the Platform.
The Terms and Conditions, and any rights and licenses granted hereunder, may not be transferred or assigned by You, but may be assigned by the Company without restriction.
- No Agency or Partnership
No agency, partnership, joint venture, or employment is created as a result of the Terms and Conditions or Your use of any part of the Platform, including without limitation, the contract between the Users. You do not have any authority whatsoever to bind the Company in any respect. All Users are independent contractors and are neither employees nor contract labour of the Company. Neither the Company nor any Users of the Platform may direct or control the day-to-day activities of the other or create or assume any obligation on behalf of the other.
- Force Majeure
Neither the Company nor You shall be liable to the other for any delay or failure in performance under the Terms and Conditions, other than payment obligations, arising out of a cause beyond its control and without its fault or negligence. Such causes may include, but are not limited to fires, floods, earthquakes, strikes, unavailability of necessary utilities, blackouts, acts of God, acts of declared or undeclared war, acts of regulatory agencies, or national disasters.
- Consent for Receipt of Phone Calls, SMSs and/or E-mails
It is further clarified that Your registration on the Platform shall be deemed to be Your consent to be contacted for the purposes mentioned above, (i) on the mobile number shared by You and (ii) by way of SMS or email notifications or messages in any other electronic form.
- No Third-party Beneficiaries
You agree that, except as otherwise expressly provided in the Terms and Conditions, there shall be no third-party beneficiaries to the Terms and Conditions.
You agree that the Company may provide You with notices, including those regarding changes to the Terms and Conditions, by email, regular mail, or notifications on the Platform.
- Entire Agreement
If any provision of the Terms and Conditions is deemed invalid by a court of competent jurisdiction, the invalidity of such provision shall not affect the validity of the remaining provisions of the Terms and Conditions, which shall remain in full force and effect.
- No Waiver
No waiver of any provision of these Terms and Conditions shall be deemed a further or continuing waiver of such term or any other term, and the Company’s failure to assert any right or provision under these Terms and Conditions shall not constitute a waiver of such right or provision.
- Statute of Limitations
You agree that any cause of action arising out of or related to the Platform must commence within one year after the cause of action arises. Otherwise, such cause of action is permanently barred.
- Questions and Grievances
All queries or concerns with respect to this Terms and Conditions and/or the Platform should be directed to the Company’s officer mentioned below:
Name: Anusha Ramakrishnan
Email Id: Anusha@jify.co
By applying for a personal loan with Financing Partner, I read, understood and willing to obtain a personal loan on the terms and conditions of the Financing Partner documents, subject to my eligibility criteria and fulfilling necessary documentation process with Financing Partner. I accept the terms and conditions and request Financing Partner to disburse the personal loan amount to me on the said terms. I hereby, declare that, the entries made by me in the Application Form are complete and true to the best of my knowledge and based on records. I, hereby, undertake to present the original documents immediately upon demand by the concerned authorities of the Financing Partner. I, hereby undertake to inform the Financing Partner & Company/my current employer, about any changes in information submitted by me, in the Application Form and any other documents, including change in addresses and phone nos., from time to time. I, hereby authorise, explicitly consent to Company to validate and provide the information sought by the Financing Partner regarding my employment and payroll including salary & deductions related details. I also expressly agree and undertake to repay my loan outstanding through EMI mode, as specified in the loan agreement. i.e., the subsequent EMIs (along with interest payments, including revised interest rates / delayed charges, if applicable) henceforth. I further given my consent and hereby authorize Billion Careers Pvt Ltd and/or any of its group companies, where I am employed as on date (“Current Employer”) to deduct the EMI amount as specified by me from my monthly salary payout, which will be paid to the Financing Partner by Billion Careers Pvt Ltd and/or any of its group companies, till the time I am employed with the Current Employer or loan closure confirmation from me to the Current Employer, whichever is earlier, subject to applicable deductions and policies from time to time. I agree that personal loan repayment or EMI payment is always my responsibility and liability to repay all outstanding amounts to the Financing Partner on or within the stipulated dates, and Billion Careers Pvt Ltd and/or any of its group companies is not be made responsible / liable for any outstanding dues or any non-payment or any other charges payable by me to the Financing Partner, in case there is a delay or default in my loan repayment at any point of time. I further declare and undertake, that if at any stage, my employment with Company can be terminated /comes to an end, and loan will be refunded by me to Financing Partner directly.
In case I resign from the Company, I further authorize the Employer Group to deduct the monthly installment from my full name and final settlement amount.
I understand that in case the Employer Group, deducts monthly installment, Loan EMI, interest, processing fees and such other charges from my monthly salary payouts and does not pay to the Partner/Partner NBFC within 3 days of such deduction, in such case I shall be liable to pay the Loan EMI, interest, processing fees and such other charges. In such case I understand:
(a) I shall also may be liable to additional interest or penal charges to the Partner/Partner NBFC and I shall not hold Partner/Partner NBFC liable for the same.
(b) due to delayed or late payment of the Loan EMI, interest, processing fees and such other charges by the Employer Group to the Partner/Partner NBFC, I shall be subject to unfavorable reporting to CIBIL and such other credit rating agencies. In such case I shall not hold Partner/Partner NBFC liable for the same.
This letter shall be signed or agreed by the Personnel on Jify Platform.