The following are terms of a legal agreement (“Agreement”) between you as an individual and/or as an agent on behalf of another entity/individual (“you” or “your”) and MyFi Services (“MyFi Services”). This website is owned and operated by MyFi Services and its usage is being provided to you with on the terms and conditions specified herein as follows.
For the purposes of this Agreement, MyFi Services and you shall be individually referred to as “Party” and collectively as “Parties”.
SCOPE AND ACCEPTANCE OF TERMS
- This Agreement is to govern the access and utilisation of the Services (as defined hereinafter) as are made available on the MyFi Services website available at the domain and sub-domains of MyFi Services located at https://www.myfiservices.in/ (“Platform”) for the purpose of defining the rights, obligations and duties of the Parties relating thereto.
- You agree that this Agreement sets forth valid and binding obligations on you and that by the act of being directed to, visiting, registering or utilising the Website in any manner whatsoever you agree to be bound to the duties, obligations and responsibilities set forth herein and to maintain adherence to the covenants, representations and warranties as are detailed under this Agreement. You further agree that MyFi Services may at any point choose to alter, amend or modify the provisions of this Agreement at its sole and absolute discretion without any prior notice necessitated to you.
USER REGISTRATION AND ACCOUNT
- You understand and agree that certain functionalities associated with the Platform and Services offered on the Platform may be made available only upon the creation of a password-protected account on the Platform. Accordingly, you may choose to create an account on the Platform to access such Services and functionalities as MyFi Services may determine at its sole and absolute discretion.
- In the event that you choose to create an account on the Platform, you understand that you will be required to provide personally identifiable information including but not limited to your electronic mail ID, mobile phone number, name, age (“Personal Information”). Upon the provision of such Personal Information via the mechanism provided for and specified on the Platform, and at the sole and absolute discretion of MyFi Services, you will be granted access to a user-specific account on the Platform (“Account”) with a unique username (“Username”) and password that may either be generated by you or determined and issued by MyFi Services to you (“Password”). You agree that you will ensure that the Personal Information shared on the Platform is truthful and accurate and that you will take the necessary steps to ensure that the Personal Information is kept up-to-date. You further agree that MyFi Services may at any time require you to provide further Personal Information for the continued usage of the Account.
- You hereby agree to change your Password regularly and to exercise your best efforts in keeping the Username and Password confidential. You further agree that you will be solely responsible and liable for maintaining the security and confidentiality of the Username and Password and that you are to bear any losses or damages arising from the disclosure of the Username and Password to you or to any third-party, with you indemnifying MyFi Services in relation to the same. You further agree to notify MyFi Services immediately with a communication addressed to email@example.com if you have any knowledge or any reason to believe that any unauthorised access to the Account has occurred or in the event that the confidentiality of the Username and/or Password has been compromised.
- You consent to receive text messages, calls and messages from MyFi Services, its agents, affiliates and representatives at the mobile number registered by you on the Platform or any number that MyFi Services may reasonably ascertain to be your’s via skip trace, caller ID capture and other such means. You agree that the consent with regard to the receipt of communication as provided herein this paragraph of the Agreement is to be effective even if you are registered on any Do Not Call directory. Notwithstanding the same, you may choose to revoke such authorisation and opt-out of receiving any such means of communication by exercising such option available on the Platform.
- You further agree that MyFi Services may at any time, at its sole and absolute discretion, and without any need for prior notice to you, suspend access or terminate the Account and that MyFi Services will not be liable for any damages, expenses, claims and losses accruing to you or any third party on account of such suspension or deletion.
- You agree that any access of the Platform, usage of the Services or any functionality associated with the Platform in addition to any data shared on the Platform which is traceable and referable to your account will be deemed to be have validly originated from you. You agree to be bound by any access of the Platform and utilisation of the Services without limitation irrespective of whether such access or utilisation was authorised or done with your knowledge and that MyFi Services may hold you solely responsible and liable for such usage of the Platform and utilisation of the Services in any manner whatsoever. You further agree to indemnify MyFi Services, its officers, directors, employees, customers and agents from any and all claims, losses, liabilities, damages, expenses and costs (including attorneys’ fees and court costs) attributable to any commission or omission of any act that is traceable or referable to your Account.
SCOPE OF LICENSE TO USE AND INTELLECTUAL PROPERTY RIGHTS
- You agree that the limited license to access and use the Platform granted through the creation of the Account (“License”) is personal, non-exclusive, revocable and non-transferable in nature and that it is granted only to you and that any access or utilisation of the Platform by an entity/person who is not an authorised representative of your’s shall void the License and constitute a violation of this Agreement.
- You understand and agree that all information and files without limitation on the Platform (“Content”) is the proprietary material of MyFi Services and that ownership in the same is vested solely and absolutely in MyFi Services and that, for the purposes of this Agreement, Content will be deemed to include:
- MyFi Services’s trademarks, service marks, product marks, symbols, logos, representative material, website addresses and URLs, trade names, corporate names and all translations, variations, derivative material and combinations of any of the same in addition to all goodwill associated therewith and all applications, registrations and renewals in connection thereto; and
- All works on the Platform and associated copyrights including moral rights and author’ rights and all applications, registrations and renewals in connection thereto; and
- All inventions associated or relating to the Platform in any manner, whether patentable or not, and any and all patents, patent applications, disclosures in lieu of registration of the patents in addition to any renewals relating thereto; and
- Platform software and related documentation, algorithms, data, machine code, source code, programs and the specifications relating thereto; and
- All manner of proprietary rights relating to any data or information on the Platform irrespective of whether such proprietary right is protected or whether it is capable of protection.
- You further understand that the License does not in any manner assign, sell or transfer any right in the Content to you whether by estoppel, implication or otherwise and that MyFi Services is the sole and absolute owner of the Content.
- You further agree that you will not undertake any of the following measures or steps in relation to the access and usage of the Content and the Platform:
- Usage of automated systems, such as but not limited to, ‘bots’, ‘scrapers’, ‘spiders’, ‘scripts’ and ‘spam bots’, and any other form of automated software.
- Engage in the practices of “screen scraping”, ‘database scraping’ or any other analogous or similar activity.
- Copy and/or distribute the whole or any part of the Platform and the Content without MyFi Services’s express written consent and authorisation.
- Undertake any activity that has the effect of bypassing the Platform security protocols instituted by MyFi Services or which encumbers the Platform in a manner that restricts or hinders access and usage of the Platform in any manner.
- Aggregate, collate, mine, or harvest in any manner any data or other details associated with any account that is registered on the Platform.
- Use any data associated with the Platform for any commercial purpose either directly or indirectly by selling or providing such data to a competitor of MyFi Services.
- Alter, modify, port, adapt or translate the Content or Platform in any manner.
- Decompile, reverse-compile, disassemble or attempt to access, construct, inspect or discover any constituent element of the Platform and the Content to obtain the technical know-how, ideas, methods and processes relating thereto.
- Unbundle the Platform and/or Content to gain discrete access to its constituent applications, utilities and components.
- Use the Content in any manner that competes with MyFi Services in the provision of its Services or for any purpose that is similar or analogous to MyFi Services’s operations and Services.
- You understand and agree that MyFi Services may from time to time and without giving any prior notice or intimation, modify, alter, upgrade, suspend or discontinue the Platform for a scheduled or non-scheduled period of time and in such an instance MyFi Services is to bear no responsibility or liability in relation to you not being able to access the Platform.
PLATFORM USER POLICY
- You understand and agree that over the course of the usage of the Platform and availing of the Services you will provide MyFi Services access to information and details including but not limited to payment card details, bank account statements, accounts receivable and payable, and loans, which MyFi Services may use without limitation for the purpose of operationalizing its Platform and providing the Services.
- You will bear sole responsibility and liability in relation to any content, data or information including but not limited to photos, messages, text, music, sounds, video and any questions, comments, suggestions, feedback or other such information that you submit, post, distribute, disseminate, upload, link to or make available on the Platform in any manner without limitation and any communication that you make through the Platform (“Account Data”). You further acknowledge that MyFi Services does not attest to the veracity or truthfulness of any Account Data and that you shall bear any and all losses and damage arising to any third party on account of any Account data with you indemnifying MyFi Services in the same respect.
- You will not submit, post, distribute, disseminate upload or make available on the Platform any Account Data which:
- Violates any applicable laws of the Republic of India;
- Gains access to and/or utilises another user’s account registered on the Platform.
- Impersonates any person or entity or misrepresents an affiliation with any person or entity;
- Defames, libel or harasses in any manner any individual or entity;
- Violates the privacy of any other individual accessing or utilising the Platform or third party through the publication of personally identifiable information including but not limited to names, addresses, credit card numbers and other such forms of information;
- Violating any third-party intellectual property or proprietary right(s);
- Is obscene, lewd, vulgar, profane, offensive or objectionable in any manner, as is to be determined at MyFi Services’s sole discretion;
- Is a Trojan, virus, worm or any other form of malicious software which has the effect of sabotaging the security protocols and bypassing the security measures of the Platform instituted by MyFi Services or which attempts to gain access to other computer systems and networks that connect to the Platform;
- Linking to an external server that hosts content that is in contravention of the provisions of this Agreement.
- You agree to grant to MyFi Services a perpetual, irrevocable, royalty-free, transferable and fully paid worldwide license in respect of the Account Data for the purpose of reproducing, distributing and utilising in any manner the Account Data for any commercial or non-commercial purposes without limitation. You agree that such license will subsist in MyFi Services even in the event that you choose to remove any Account Data.
- You understand and agree that MyFi Services will have the right but not the obligation to monitor the Account Data and investigate any violation of this Agreement and consequently take any appropriate action in relation to the same.
USER INFORMATION AND PRIVACY
- You understand and agree that MyFi Services may, at its sole and absolute discretion, share any Personal Information or Account Data with any third-party that it engages in pursuance of the provision of the Services with MyFi Services not responsible or liable for issuing any notice or intimating you in any manner prior to sharing any Personal Information or Account Data in such manner; provided any such Personal Information or Account Data shall only be shared with third-parties that are obligated to maintain confidentiality in respect of the shared Personal Information and Account Data with MyFi Services not responsible or liable in any manner to any extent for any breach of the obligation of confidentiality by the concerned third-party or any damages, losses, claims and all manner of consequences arising from such breach.
- Subsequent to the registration of the Account, MyFi Services will make available its functionalities associated with the Platform in order to enable you to engage as a borrower or lender in the context of the grant and receipt of financial assistance in the form of loans conducted via the Platform (“Services”).
- You agree that MyFi Services may at any point in time choose to alter the Services protocols and add or remove any functionality associated with the Platform and Services at its sole and absolute discretion without any prior notice necessitated to you.
- Over the course of the utilisation of the Services, you may choose to be matched with another user of the Platform upon you agreeing terms with such user with regard to the issue of a loan (“Loan”), in the capacity of a borrower/lender as may be the case, via the functionalities enabling the same on the Platform in order to enter into an agreement for the grant of a loan (“Match”). You agree that subsequent to the Match, you will execute the agreement within 2 business days of the Match with the user that is party to the Match.
- You agree that for the conduct of the Services, you will remit a fee to MyFi Services (“Fee”) to be calculated in the following manner after the loan agreement is signed and before disbursement of loan.
- You agree that notwithstanding anything stated under this Agreement, MyFi Services may alter or modify the Fee calculation mechanism and the variables to be considered in relation thereto in any manner and at its sole discretion without any prior notice or intimation to you. You agree to bear any expenses, duties, costs and charges that might be incurred relating to the execution of the Loan Agreement. You further agree that MyFi Services may at its sole and absolute discretion charge you any costs, expenses and charges that it incurs towards the execution of any Loan Agreement that you enter into through the Platform.
- You understand and agree that the levy of the Penalty by MyFi Services and/or payment of the Penalty to MyFi Services and the Lender(s) shall not pre-empt or exclude the operation of any other right under law or equity that MyFi Services or the Lender(s) may possess.
REPRESENTATIONS AND WARRANTIES
You represent and warrant that:
- You have attained the age of 18 years and are duly authorised and have the power to enter into this Agreement under the applicable laws of the Republic of India and are not subject to any contractual arrangement, judgment or order by a judicial or quasi-judicial authority that is inconsistent with the terms and conditions of this Agreement.
- You are not an un-discharged insolvent.
- The Account Data and Personal Information are truthful, accurate and complete in all respects.
- Your access and/or usage of the Platform and Services is not in violation of any applicable law of the Republic of India.
- You have the requisite authorisations, rights, licenses, and capacity under the applicable laws of the Republic of India to use and authorise MyFi Services to utilise any Account Data generated by you in the manner provided for under this Agreement.
MyFi Services represents and warrants that:
- It has the power and the due authorisations to execute this Agreement;
- This Agreement does not contravene any existing law or obligation by which MyFi Services is bound.
- It is not subject to any agreement, judgment or order by a judicial or quasi-judicial authority in the Republic of India that is inconsistent with or adverse to the terms and conditions of this Agreement.
LINKS TO OTHER WEBSITES AND CONTENT
- You understand and agree that over the course of the usage of the Platform you may be directed to other websites (“Third Party Sites”) as well as be exposed to the content on such Third Party Sites (“Third Party Content”).
- You acknowledge and agree that MyFi Services does not investigate or monitor the Third Party Sites or Third Party Content and that a link to a Third Party Sites is not to constitute an endorsement of such Third Party Sites by MyFi Services with MyFi Services not understood to have made any form of representation or warranty, whether express of implied, in relation to the quality, genuineness and any other attribute of the Third Party Sites or Third Party Content.
INDEMNITY AND LIMITATION OF LIABILITY
- You agree to indemnify and hold harmless MyFi Services, its officers, directors, employees, customers and agents from any and all direct and indirect punitive, incidental, consequential or special damages, claims, losses, liabilities, damages, expenses and costs (including attorneys’ fees and court costs) which result from your usage of the Platform or in relation to you availing the Services through the Platform or from the breach of this Agreement and/or the Loan Agreement. You further agree that upon such breach by you of this Agreement and/or the Loan Agreement, irrespective of your capacity as a lender or borrower, MyFi Services may exercise any and all remedies that present itself in law and equity including but not limited to issuance of legal notices to you, seeking injunctive relief or compelling specific performance as a remedy of such breach.
- You acknowledge that MyFi Services does not endorse the accuracy, veracity, adequacy, reliability or completeness of any Personal Information or Account Data in addition to any communication issued through your Account.
- The Parties agree that the Platform and the Services is provided on an “as is” basis without any warranty, whether express or implied, in regard to the merchantability or fitness of the Platform and Services for any specific purpose; Further, you acknowledge and agree that your usage of the Services is at your sole risk and liability with MyFi Services not guaranteeing or promising any manner of results from the usage of the Platform and availing of the Services by you.
- You acknowledge and agree that MyFi Services is merely a marketplace facilitating the Loan and is in no manner collecting deposits or lending money to any individual out of such deposits.
- You understand and agree that MyFi Services is merely facilitating the Loan Agreement and is consequently not responsible or liable in any manner for any claim of money, damages or loss in the event you or the counter-party under the Match fail to disburse or repay the Loan amount or are in breach of the Loan Agreement in any manner whatsoever without limitation. You agree that MyFi Services’s role in respect of the Loan Agreement is restricted merely to a marketplace facilitating the Loan Agreement and consequently it is not responsible or liable in any manner whatsoever for any losses or damages resulting directly or indirectly in relation to the Loan Agreement to you or any third party.
- You agree that MyFi Services does not offer any warranty or representation in relation to the Platform being free of any malicious software and that MyFi Services will not bear any responsibility and liability in relation to any breach of security of the system used by you to access the Platform and/or avail the Services.
- You agree that MyFi Services does not offer any warranty in respect of the counter-party of the Match and that MyFi Services will not bear any responsibility or liability for any direct or indirect damages caused by the counter-party to the Match to you or to any third party.
- You agree that you will be solely responsible for obtaining and maintaining any and all equipment for the access and use of the Platform and the Services and that MyFi Services will not be responsible for any damage caused to such equipment over the course of usage of the Platform.
- You agree that notwithstanding anything stated under this Agreement, MyFi Services or its affiliates’ liability in any matter relating to the utilisation of the Platform and/or conduct of the Service will not exceed the total Fee paid by you to MyFi Services.
- You acknowledge and agree that MyFi Services is to not bear any form of liability for any damage or loss caused due to any default of its obligations under this Agreement arising directly or indirectly from a cause affecting the performance by MyFi Services of its obligations resulting from acts, events, omissions, happenings or non-happenings beyond its reasonable control, including but not limited to acts of God, riots, war or armed conflict, embargo, acts of terrorism, acts of government, local government or regulatory bodies, fire, flood, storm or earthquake or any internet connectivity failures, computer equipment failures, telecommunication equipment failures and electrical power failures.
TERM AND TERMINATION
- You agree that this Agreement is to be coterminous with and govern each and every instance of any visitation, access and utilisation of the Platform and/or Account and/or any instance availing of the Services by you in any manner whatsoever.
- You acknowledge that MyFi Services may, at its sole and absolute discretion, choose to terminate this Agreement and suspend, deactivate or delete the Account without any prior notice to you.
- You may choose to terminate this Agreement at any point in time by exercising the option to deactivate the Account listed on the Platform.
- You agree that upon the termination of this Agreement, the license granted to you under this Agreement to visit, access and utilise the Platform on the terms and conditions as stated herein will be rendered void. You agree that MyFi Services will not be liable to any third party for the termination of this Agreement and the suspension, deactivation or deletion of the Account.
- You agree that irrespective of the termination of this Agreement, the license granted to MyFi Services under this Agreement in respect of the Account Data will subsist for perpetuity with MyFi Services not being responsible or liable to any extent for returning the Account Data to you or deleting the Account Data.
APPLICABLE LAW, JURISDICTION AND DISPUTE RESOLUTION
- This Agreement shall be governed by and interpreted in all respects in accordance with the laws of the Republic of India.
- All disputes arising out of or in relation to this Agreement shall be settled amicably by the Parties within a period of 30 [thirty] days from the date of the first initiation of the dispute. In the event no amicable settlement is arrived at within a period of thirty days from the date of first initiation of the dispute by one Party to other, the Parties shall resolve the dispute by means of arbitration pursuant to the Arbitration and Conciliation Act, 1996.
- The arbitration shall be conducted by an arbitral tribunal comprising of 1 (one) arbitrator mutually appointed by the Parties.
- The arbitration proceedings shall be conducted in English language only.
- The award of the arbitral tribunal shall be final and binding on the Parties.
- If any provision or any part of a provision of this Agreement is invalid, unenforceable or prohibited by applicable laws, such provision or part of provision if this Agreement shall be severed from this Agreement and shall be considered divisible as to such provision or part thereof and such provision or part thereof shall be inoperative between the Parties hereto and shall not be part of the consideration moving between the Parties hereto and the remainder of this Agreement shall be valid and binding and of like effect as though such provision was not included herein.
- You agree that MyFi Services may at its sole and absolute discretion choose to assign, delegate or transfer its responsibilities, rights and obligations under this Agreement without any prior intimation or notice required to be made to you.
- You agree that you will not assign, delegate or transfer in any manner your responsibilities and any other rights or obligations contained in this Agreement to any third party without the express written consent of MyFi Services.
- This Agreement in conjunction with the Loan Agreement contains the entire understanding between the Parties, superseding all prior communications, agreements, and understandings between the Parties with respect to the purpose of this Agreement.
UNDERTAKING AND ACKNOWLEDGEMENT
In case, the lender is below mentioned Undertaking and Acknowledgement apply to the borrower along with terms and conditions mentioned above. In case of any discrepancy, following will take precedence over anything mentioned above.
- I/We hereby apply for a finance facility for the short term personal loan (“Facility”) mentioned in this application. I/We declare that all the particulars and information and details given/filled in this Application Form are true, correct, complete and up-to date in all respects and no information has been withheld. I/We understand that the information given in this application shall form the basis of any loan that Lender1 may decide to grant to me/us and if at any stage of processing this application, it comes to the knowledge of Lender1 that, I/we have provided any incorrect or incomplete information, fabricated documents, or fake documents, they will be treated by Lender1 as having been manipulated by me/us and Lender1 shall have the right to forthwith reject this loan application, cancel / revoke any sanction or further drawdowns or recall any loan granted at any stage of processing the application, without assigning any reason whatsoever and Lender1 and its employees/ representatives/ agents / service providers shall not be responsible/liable in any manner whatsoever to me/us for such rejection or any delay in notifying me/us of such rejection (including for any payments which may have been made by me to any vendor/ service provider prior to cancellation). I/We understand that Lender1 will also be procuring personal information from other sources/agents and I/We have no objection for the same. I/We further confirm that I/we am/are aware of all terms and conditions of availing finance from Lender1. I/We authorize Lender1 to make reference and inquire relating to information in this application which Lender1 considers necessary, including from the banks where I hold bank accounts. I/We authorize Lender1 to procure my /our TIN No/copy of my/our TIN ID Card, other identity proof and Bank Account details from time to time, exchange, part with/share all information relating to my/our loan details and repayment history with other banks/financial institutions /CIBI etc. and periodically obtain / generate CIBI and such other reports as may be required and shall not hold Lender1 liable for use of this information. I/We confirm that there are no criminal or insolvency proceedings against me/us.
- I/ We declare that I/ We have not made any payment in cash, bearers cheques or by any other mode along with or in connection with this Application Form to the person collecting my/our Application Form. I/ We shall not hold Lender1 or its employees/representatives/agents/service providers liable for any such payment made by us to the person collecting this Application Form.
- I/We, would like to know through telephonic calls, or SMS on my mobile number mentioned in the Application Form as well as in this undertaking, or through any other communication mode, transactional information, various loan offer schemes or loan promotional schemes or any other promotional schemes which may be provided by Lender1 or  and hereby authorize Lender1/  and their employee, agent, associate to do so. I confirm that laws in relation to the unsolicited communication referred in “National Do Not Call Registry” (the “NDNC Registry”) as laid down by TELECOM REGULATORY AUTHORITY OF India will not be applicable for such communication/calls/ SMSs received from Lender1/ , its employees, agents and/or associates. I/We, acknowledge that  and Lender1 are independent of each other and I/we will not have any claim against Lender1 for any loan or other facility arranged/ provided by  which is not sanctioned/ disbursed by Lender1. I acknowledge that Lender1 does not in any manner make any representation, promise, statement or endorsement in respect of any other product of services which may be provided by  and will not be responsible or liable in any manner whatsoever for the same.
- I/we understand that we have the I/we have an option of not providing the information as required in this application form or as may be required by Lender1/ from time to time, however, I/We do hereby expressly and irrevocably authorize Lender1 /  to collect, store, share, obtain and authenticate any aspect of my personal information / KYC either directly or through any of the authorized agencies and disclose such information to its agents/contractors/service providers and to also use such information in the manner that may be required by Lender1 / including for the purposes of this loan and for purposes of its business and for such time period as they may deem fit. In this regard, I / we expressly and irrevocably authorize Lender1/  to collect, use, verify and authenticate my / our personal identity information / KYC in any manner without any notice to me / us.
- I/We confirm that we have read and understood and accepted the general terms and conditions for the grant of Loan Facility provided. I/we also understand that the General Terms and Conditions shall be deemed to be applicable to any Drawdown granted by Lender1 pursuant to this application form.
- Lender1 shall be entitled to take such legal action as it may deem fit, upon occurrence of any of the Events of Default as set out and agreed by me/us in the above mentioned General Terms and Conditions of loan.
- I/we hereby authorize Lender1 to repossess the asset financed by Lender1 or such other asset owned by me/us as it may deem fit for the purposes of recovery the total amount outstanding in terms of the General Terms and Conditions of loan.
- Prepayment Charges : Standard Charges Apply