Terms & Conditions about Faircent Peer to Peer Lending Platform

Terms of Use

By using any of the services offered by Faircent P2P Lending platform over its website I hereby state that I have read all the Terms and Conditions set out herein, I have understood all the Terms and Conditions and I hereby unconditionally accept all the following Terms and Conditions:-

1. There are risks associated with the lending transactions and that Faircent is mandated by the Reserve Bank of India (‘RBI’) NBFC P2P regulations not to assure return of principal/payment of interest to the Lenders.

2. Consequently, there exists a likelihood of loss of entire principal and interest in case of default in the repayment by a borrower/s of the loan advanced.

3. Faircent is also mandated by the RBI NBFC P2P regulations not to provide any assurance or guarantee for the repayment of loans and / or interest.

4. Faircent enables P2P lending which is not in the nature of an investment, but a platform to enable lending to borrowers.

5. Faircent (Fairassets Technologies India Pvt Ltd) is an NBFC-P2P lending platform registered with the Reserve Bank. However, the Reserve Bank does not accept any responsibility for the correctness of any of the statements or representations made or opinions expressed by the NBFC-P2P Platforms and does not provide any assurance for repayment of the loans lent on it. Fairassets Technologies India Pvt Ltd (Faircent.com) has been issued a valid certificate of registration dated May 16th, 2018, by the Reserve Bank of India under Section 45 IA of the Reserve Bank of India Act, 1934.

6. I further confirm that I have read and understood the Master Directions - Non-Banking Financial Company (NBFC) - Peer to Peer Lending Platform (Reserve Bank) Directions, 2017, as amended up to date, along with other applicable guidelines issued by the Reserve Bank of India for NBFC-P2Ps. I agree to stay informed of any updates to the Master Directions and other applicable regulations and consent to their implications and agree to be bound by them including if there are retrospective changes made by the RBI to these Master Directions or any other applicable regulations. I have formed my own independent opinion regarding the features offered by the Platform from a regulatory perspective. As a consequence of any regulatory changes/clarifications/reviews/directions given by the RBI, which may prevent Faircent from providing the features of the product which may have been offered earlier, Faircent reserve the right to modify such features to ensure compliance with applicable regulatory requirements without my further consent. I accept that any updates/amendments/modifications to the Master Directions and / or any applicable P2P regulations will have overriding effect on the terms of the features and products offered by Faircent.

Faircent.com ("Faircent" or "Site" or "we" or "our") is a trade name owned and managed by Fairassets Technologies India Pvt. Ltd. a NBFC-P2Pthat provides a web platform to bring together people who are willing to borrow and people who are willing to lend together. Faircent is an attempt to build a close community that would share its resources with each other in all honesty and promote togetherness and growth of the community at an individual level and of the community as a whole. Faircent’s endeavor is that an individual may come forward to support another individual in need. On this web portal, a visitor to the website could browse and search for people who are willing to lend, people who are willing to borrow, details of service providers such as verification agencies, collection agents and other such service providers that would provide services to either lenders or to borrowers. Faircent shall merely facilitate a transaction of borrowing and lending between two such people. Faircent neither lends nor borrows through this website. Faircent does not raise deposits as defined under Section 45I(bb) of the Reserve Bank of India Act, 1934, or the Companies Act, 2013, nor does it provide or arrange any credit enhancement or credit guarantee. It does not facilitate or permit any secured lending on its platform and does not hold funds received from lenders for lending or from borrowers for loan servicing on its own balance sheet. Further, Faircent shall not cross-sell any products, except for loan-specific insurance products that are not in the nature of credit enhancement or credit guarantee. Faircent is neither a financial institution, nor runs a collective investment scheme or a chit fund or any other such financial scheme.

SITE: Site means Faircent.com which is owned and managed by Fairassets Technologies India Private Limited.

YOU/YOUR: You/Your shall mean natural or legal person who is at least 18 years of age and could legally enter into a contract in India and could use the services and products provided on Faircent.com in accordance with the terms and conditions recorded hereinafter and has agreed to become a paid member of this Site and whose membership fee is in arrears and those whose membership fees is not in arrears.

Acceptance of Terms and Conditions

Every effort has been made to ensure, that the information contained on the Site is correct, however Faircent makes no warranty as the accuracy, comprehensiveness, or correctness of any Service(s) or a Product(s) on the Site, and provides all Service(s) and Product(s) on an "as is" basis. By using this Site, you ("you" or the "End User") agree to these terms and conditions ("Terms and Conditions" or "T&C" or "Terms") that we have provided. If you do not wish to agree to these Terms and Conditions, please refrain from using this Site.

The Service(s) or a Product(s) and information displayed on the Site is an "invitation to offer" to the End User. Your order for purchase of either Service(s) or Product(s) constitutes your "offer" which shall be subject to the terms and conditions as listed below. Faircent.com reserves the right to accept or reject your offer. If you have supplied us with your valid email address, we will notify you by email as soon as possible to confirm receipt of your instruction and email you again to confirm details and therefore process the instruction accordingly for provision of Services(s) or Products(s). Our acceptance of your instructions for either rendition of services or provision of any product will take place upon rendition of Service(s) or dispatch of the Product(s) ordered. No act or omission of Faircent prior to the actual dispatch of the Product(s) or rendition of services ordered will constitute acceptance of your offer. Similarly, no act or omission of Faircent prior to the actual rendition of services shall constitute acceptance of your offer. A Person who cannot enter into legally binding contract in accordance with the provisions of the Indian Contract Act, 1872 including person below the age of 18 years or of unsound mind and un-discharged insolvents etc. are not entitled to use the Site.

Persons under the age of 18 years are not permitted to get engaged with this Site and have no permission to call for any services or products or to lend or to borrow from through this Site.

The Site is freely accessible to the End User however; the End User will have to register with Faircent.com and create their individual registration account prior to any purchase of Service(s) or Product(s). All registration information must be correct, complete and promptly updated by the End User each time it changes. Faircent reserves the right to make any changes to our Terms and Conditions and/or our Privacy Policy (which is incorporated herein by reference) as we deem necessary or desirable without prior notification to you. We suggest to you, therefore, that you read our T&C and Privacy Policy from time to time in order that you stay informed as to any such changes. If we make changes to our T&C and Privacy Policy and you continue to use our Site, you are impliedly agreeing to the revised T&C and Privacy Policy expressed herein.

Your privacy is important to us and we will protect it. We will not share your personal information with anyone other than those listed in our Privacy Policy.
As a condition of purchase, Faircent requires your consent to send you administrative and promotional emails / SMS/ Phone Calls. We will send you information regarding your account activity and purchases, as well as updates about our Services and Products and promotional offers. You can opt-out of our promotional emails anytime by clicking the unsubscribe link at the bottom of any of our email correspondences. Please see our Privacy Policy for details.
By placing an order, you make an offer to us to purchase Service(s) or Product(s) you have selected based on the Terms and Conditions stated below.
You are required to create an account in order to purchase any Services or a Product from our Site. This is required so we can provide you with easy access to print your orders, view your past purchases, and modify your preferences.
If you have any questions about these Terms and Conditions, please contact Faircent on [email protected]

To read the complete Faircent Terms and Conditions, please see below.

1. ACCEPTANCE OF TERMS AND CONDITIONS

By using this Site, you agree to the Terms and Conditions that Faircent has provided. If you do not wish to agree to these Terms and Conditions, please refrain from using the Site. In the Site, Faircent provides End Users with access to database of lenders, borrowers and services providers in relation to debt services such as verification agencies and collection agencies etc. The Faircent is only a platform that brings together borrowers and lenders, it matches the need of borrowers and lender, and provides link to service providers that are associated with the business of borrowing and lending such as verification agency and collection agency. Faircent in no manner collects deposits from the lenders or person who would like to earn interest on their money by lending. Faircent only supports the lender in verifying the whereabouts of the borrower on best effort basis.

If this T&C conflicts with any other document, the T&C will prevail for the purposes of usage of the Site. If you do not agree to be bound by this T&C and the Privacy Policy, you may not use the Site in any way.

2. Description of Products & Services

In the Site, Faircent provides End Users with access to lenders, borrowers, service providers to borrowers, partners who facilitate lending and credit reports for lenders and borrowers.

Upon your clicking "yes" in the options menu we shall be entitled to send you regular updates via email/ sms/ phone call or any other means regarding our Services and Product offerings.

3. General

These terms and conditions that apply to the user of this Site. By using this Site (other than to read this T&C for the first time), user agrees to comply with all of the terms and conditions hereof. The right to use this Site is personal to the user and is not transferable to any other person or entity. User shall be responsible for protecting the confidentiality of User's password(s), if any. User acknowledges that, although the internet is often a secure environment, sometimes there are interruptions in service or events that are beyond the control of Faircent, and Faircent shall not be responsible for any data lost while transmitting information on the internet. While it is Faircent’s objective is to make the Site accessible 24 hours per day, 7 days per week, the Site may be unavailable from time to time for any reason including, without limitation, routine maintenance. You understand and acknowledge that due to circumstances both within and outside of the control of Faircent, access to the Site may be interrupted, suspended or terminated from time to time. Faircent shall have the right at any time to change or discontinue any aspect or feature of Faircent, including, but not limited to, content, hours of availability and equipment needed for access or use. Further, Faircent may discontinue disseminating any portion of information or category of information, may change or eliminate any transmission method and may change transmission speeds or other signal characteristics.

4. Modified Terms

Faircent reserves the right at all times to discontinue or modify any of the Terms and Conditions as may be deemed necessary or desirable without prior notification to you. Such changes may include, among other things, the adding of certain fees or charges. We suggest to you, therefore, that you re- read this important notice containing our Terms and Conditions from time to time in order that you stay informed as to any such changes. If we make changes to our Terms and Conditions and you continue to use our Site, you are impliedly agreeing to the Terms and Conditions and Privacy Policy expressed herein. Any such deletions or modifications shall be effective immediately upon Faircent's posting thereof. Any use of Faircent by End User after such notice shall be deemed to constitute acceptance by End User of such modifications.

Further, Lender(s) and Faircent reserves the right to cancel the loan agreement before disbursal of sanctioned Loan Amount to the Borrower if at a later stage, Borrower is found to have violated the underwriting criteria of Company viz. negative credit profile, wrong submission of information or KYC documents and negative verification report etc.

5. License and Site Access

Faircent grants you a limited license to access and make personal use of the Site. This license does not include any downloading or copying of account information for the benefit of another vendor or any other third party; caching, unauthorized hypertext links to the Site and the framing of any Content available through the Site, uploading, posting, or transmitting any content that you do not have a right to make available (such as the intellectual property of another party); uploading, posting, or transmitting any material that contains software viruses or any other computer code, files or programs designed to interrupt, destroy or limit the functionality of any computer software or hardware or telecommunications equipment; any action that imposes or may impose (in Faircent’s sole discretion) an unreasonable or disproportionately large load on Faircent’s infrastructure; or any use of data mining, robots, or similar data gathering and extraction tools. You may not bypass any measures used by Faircent to prevent or restrict access to the Site. Any unauthorized use by you shall terminate the permission or license granted to you by Faircent. By using this Site and by accepting to agree to these terms and conditions you also agree that you shall not hack or otherwise hire some third party to hack the site or use any other unauthorized means without a written consent of Faircent and access any third party information. By using this Site you agree that you will hold all any information received by you during your interaction with this Site or any other users of this Site (including other lenders and borrowers on this Site) in the strictest confidence and shall not disclose or use the information obtained by you by accessing this Site. You shall in such an event be liable of a criminal offence and Faircent shall institute appropriate legal proceedings to claim damages. Faircent also reserve rights to institute proceedings in accordance with the law relating to intellectual property rights violation or infringement available to it in case the misuse of this website is a person or an entity that belongs to out of India. In any event, the jurisdiction to institute any protective proceedings shall vest with the Faircent within the jurisdiction of Gurgaon.

Our website users may experience difficulty in accessing website from 03:00 am to 03:30 am due to website updates. We apologize for the inconvenience caused to our Users.

6. Faircent Usage Eligibility

The Faircent.com Service is not available to persons under the age of 18 or of unsound mind or who are declared insolvent or to any Users suspended or removed from the system by Faircent for any reason. Users may not have more than one active account. Additionally, Users are prohibited from selling, trading, or otherwise transferring their Faircent.com account to another party. If you do not qualify, you may not use the Faircent.com or the Site.

7. Your Account

In consideration of your use of the Site, you represent that you are of legal age to form a binding contract and are not a person barred from receiving services or goods under the laws as applicable in India. Additionally, you are more than 18 years of age. You also agree to provide true, accurate, current and complete information about yourself as prompted by the Site's registration form. If you provide any information that is untrue, inaccurate, not current or incomplete (or becomes untrue, inaccurate, not current or incomplete), or Faircent has reasonable grounds to suspect that such information is untrue, inaccurate, not current or incomplete, Faircent has the right to suspend or terminate your account and refuse any and all current or future use of the Site (or any portion thereof). As Faircent is a website that enables borrowers to find lenders and lenders to find borrowers, it considers provisions of wrong information on this web portal willingly an act that would constitute misrepresentation, fraud and cheating. If you use the Site, you are responsible for maintaining the confidentiality of your account and password, and for restricting access to your computer. You agree to accept responsibility for all activities that occur under your account or password. Because of this, we strongly recommend that you exit from your account at the end of each session. You agree to notify Faircent immediately of any unauthorized use of your account or any other breach of security. Faircent reserves the right to refuse service, terminate accounts, or remove or edit content in its sole discretion. In the event, Faircent finds that the information shared by the User of the website is incorrect or that the User is in breach of terms or conditions of the website or User is in default of the lenders and borrowers agreement than in such case Faircent may add the name and details of such person in the list of persons who are blacklisted from receiving funds or lending.

By registering with us and opening an account on our platform, You (as a Lender or a Borrower) hereby authorize Faircent to do all such acts, deeds and things relating to disbursing Your money (as a Lender to a Borrower) and collecting repayments (as a Borrower for the benefit of a Lender) and transferring the same to the Lenders bank account. All details about lending and repayment conducts by Faircent will be available on Your personal dashboards provided to You by Faircent.

By registering with Faircent as a Lender you agree that you have understood all the risks associated with the lending transactions and that the Faircent P2P Platform does not assure return of principal/payment of interest. You also understand and agree that there is a likelihood of loss of entire principal in case of default by a borrower. Faircent P2P Platform does not provide any assurances or guarantees for the recovery of loans.

8. Equipment

User shall be responsible for obtaining and maintaining all telephone, computer hardware and other equipment needed for access to and use of this Site and all charges related thereto. Faircent shall not be liable for any damages to the End User's equipment resulting from the use of this Site.

9. End User conduct

This Site and any individual sites or merchant-specific, city-specific, or state-specific sites now or hereinafter contained within or otherwise available through external hyperlinks with our Site (the "Microsites") are private property. All interactions on this Site and/or the Microsites must comply with these Terms and Conditions. Although we welcome and encourage user interaction on our Site, we do insist and require that all End Users restrict any and all activity in connection with the use of this Site and the Microsites to that which involves lawful purposes only. End User shall not post or transmit through this Site any material which violates or infringes in any way upon the rights of others, or any material which is unlawful, threatening, abusive, defamatory, invasive of privacy or publicity rights, vulgar, obscene, profane or otherwise objectionable, which encourages conduct that would constitute a criminal offense, give rise to civil liability or otherwise violate any law, or which, without Faircent's express prior, written approval, contains advertising or any solicitation with respect to Products or Services. Any conduct by an End User that in Faircent's exclusive discretion restricts or inhibits any other End User from using or enjoying this Site and/or any of the Microsites is strictly prohibited. End User shall NOT use this Site or any of the Microsites to advertise or perform any commercial, religious, political or non-commercial solicitation, including, but not limited to, the solicitation of users of this Site and/or the Microsites to become users of other on- or offline services directly or indirectly competitive or potentially competitive with Faircent.

The foregoing provisions of this Section apply equally to and are for the benefit of Faircent, its subsidiaries, affiliates and its third party content providers and licensors, and each shall have the right to assert and enforce such provisions directly or on its own behalf.

Any and all information howsoever exchanged (including but not limited to, publication over dashboard, or personal email communication) between Faircent (through its employees, representatives etc.,) and You as a registered Lender or a registered Borrower, or between You (as a Lender or as a Borrower) with another User who is a Lender or a Borrower, is personal and confidential to each User registered with Us as well as for Faircent and you are required to maintain strict confidentiality of this information. Any unauthorized disclosure, or any disclosure (including but not limited to posting such information on any social media platforms, otherwise) without the express written consent of Faircent or the Lender or the Borrower, as the case may be, shall be considered a serious breach of your obligations under these Terms and Conditions as well as the Lender – Borrower Agreement executed pursuant to a successful loan transaction. Such breach by You shall entitle Faircent to forthwith terminate your registration (either as a Lender or a Borrower) and seek damages from You under applicable law.

10. Monitoring

Faircent shall have the right, but not the obligation, to monitor the content of the Site at all times, including any chat rooms and forums that may hereinafter be included as part of the Site, to determine compliance with this Agreement and any operating rules established by Faircent, as well as to satisfy any applicable law, regulation or authorized government request. Without limiting the foregoing, Faircent shall have the right to remove any material that Faircent, in its sole discretion, finds to be in violation of the provisions hereof or otherwise objectionable.

11. License Grant

By posting communications on or through this Site, User shall be deemed to have granted to Faircent a royalty-free, perpetual, irrevocable, non-exclusive license to use, reproduce, modify, publish, edit, translate, distribute, perform, and display the communication alone or as part of other works in any form, media, or technology whether now known or hereafter developed, and to sublicense such rights through multiple tiers of sub-licensees.

12. Personal Information

In order to avail of the Services from the Site, you will need to provide your details prior to get enlisted either as a borrower or as a lender. As an account holder you are required to provide Faircent with accurate personal information. Provision of another person’s details as your own will not be deemed acceptable.

Any personal information collected by Faircent shall not be disclosed to any third party unrelated to the Faircent business unless such a disclosure is authorized or required by law, or you have expressly consented to such a disclosure. However, by accepting the terms and conditions you grant Faircent an unconditional right to share your personal information with Faircent’s partners, affiliates, employees and agents for administrative purpose. Please also see the Privacy Policy in this regard.

13. Credit Card Information

You agree, understand and confirm that the credit card details provided by you for availing of services on Faircent will be correct and accurate and you shall not use the credit card which is un- lawfully owned by you, thus you must not pay or attempt to pay for services using fraudulent credit card information. You further agree and undertake to provide the correct and valid credit card details to Faircent. In case of orders that amount to Rs.10,000 or more, the customer will be required to provide the last four digits of the credit card used to place the order, for the purpose of verification.

Further the said information will not be utilized and shared by Faircent with any third parties unless required for fraud verifications or by law, regulation or court order. Faircent will not be liable for any credit card fraud. The liability for use of a card fraudulently will be on you and the onus to ‘prove otherwise’ shall be exclusively yours.

14. Cancellation by Faircent

Please note that there may be certain instruction to remit payments or seek rendition of services that Faircent is unable to accept shall be cancel. We reserve the right, at our sole discretion, to refuse or cancel any order for any reason. We may also require additional verifications or information before accepting any instruction or registering you on are portal as a lender or a borrower. The borrower(s) and lender(s) are required to note that negative third party verification report(s) are crucial factors considered during the funding process. The funding may get rejected at any stage due to lack of information or verifiable information.

15. Fraudulent /Declined Transactions

Faircent reserves the right to recover the cost of Service(s) and Product(s), collection charges and lawyers fees from persons using the Site fraudulently. Faircent reserves the right to initiate legal proceedings against such persons for fraudulent use of the Site and any other unlawful acts or omissions in breach of these terms and conditions.

16. Compliance with RBI

By using this Site and registering with us on the website either directly or indirectly through our authorized sourcing partners, you agree that you are aware of and have read the Master Directions for Non-Banking Financial Company – Peer to Peer Lending Platforms dated October 04, 2017 (‘Master Directions’) and Guidelines on Digital Lending dated September 02, 2022, and its updates from time to time, or any other applicable guidelines, circular, notification and direction for NBFC-P2Ps issued by the Reserve Bank of India (‘RBI’). You agree to keep yourself updated on any changes and their consequences, and you agree to be bound by them as provided earlier in these Terms and Conditions.

By Registering as Lender on the Site you agree that:

(i) You have not lent any amounts exceeding INR 50,00,000 across all the P2P platform in India and you also agree that you will not exceed the limit specified by the RBI for lending on p2p platforms in India.
(ii) In case the amounts lent by you is more than ₹10,00,000 across P2P platforms you shall produce a certificate to P2P platforms from a practicing Chartered Accountant certifying your minimum net- worth of ₹50,00,000.
(iii) You shall not lend any amount exceeding INR 50,000 to the same Borrower across all P2P lending platforms in India.
(iv) You understand all the risks associated with the lending transactions.
(v) You understand that Faircent does not assure return of principal/payment of interest and that there exists a likelihood of loss of entire principal in case of default by a borrower.
(vi) You understand that Faircent does not provide any assurance or Guarantee for the recovery of loans.
(vii) You understand that Faircent does not promote peer to peer lending as an investment product with features like tenure linked assured minimum returns, liquidity options, etc.
(viii) You understand that fund transfers between lenders and borrowers on the Faircent Platform are through escrow account mechanisms operated by an independent bank-promoted trustee. Two escrow accounts are maintained: one for funds received from lenders and pending disbursal to the borrowers (the "Lenders' Escrow Account") and another for collections from borrowers as repayments to lenders (the "Borrowers' Escrow Account").
As a lender, you agree to transfer funds solely from your bank account to the Lenders' Escrow Account. Your funds will then be disbursed to the specific borrower’s bank account of your choice which is matched /mapped, based on your approval either through the manual lending option or through platform-suggested borrowers based on the criteria that you have selected on your lending dashboard. The disbursement of your funds may occur at different events, subject to the fulfilment of the requirements of your matched/mapped borrowers, and the signing of the lender – borrower agreement.
You will receive multiple / single consolidated repayment of your loans directly to your bank account from the Borrowers' Escrow Account after reconciliation of the repayments received from your matched/mapped borrowers within such period as prescribed by regulations. As a lender, you are not eligible to receive repayments from the funds in the Lenders' Escrow Account, nor to re-lend from the repayments that you may have received directly from the Borrowers' Escrow Account. Transactions are permitted only through official bank accounts, and cash transactions are strictly prohibited.
(ix) You understand and agree to Faircent providing assistance in the disbursement and repayment of loan amounts and providing services for the recovery of loans that have originated on the platform.
(x) You hereby understand and acknowledge that the maturity/liquidity is offered on a best effort basis from the repayment of the loans made by the Borrowers as EMIs and Faircent is not liable or responsible for any delay in such repayment or non-availability of maturity or liquidity.

By registering as a Borrower you agree that:

(i) You have not borrowed any amounts exceeding INR 10,00,000 across all the P2P platform in India and you also agree that you will not exceed the limit specified by the RBI for borrowing on p2p platforms in India;
(ii) You have not borrowed more than INR 50,000 from the same Lender across all P2P platforms in India.
(iii) You understand that transactions are permitted only through official bank accounts, and cash transactions are strictly prohibited.
(iv) You consent to disclose your personal identity to the lender(s).

17. Limitation of Liability

Faircent, its associates and technology partners make no representations or warranties about the accuracy, reliability, completeness, current-ness and/or timeliness of any content, information, software, text, graphics, links or communications provided on or through the use of the Site or that the operation of the Site will be error free and/or uninterrupted. Consequently, Faircent assumes no liability whatsoever for any monetary or other damage suffered by you on account of the delay, failure, interruption, or corruption of any data or other information transmitted in connection with use of the Site; and/or any interruption or errors in the operation of the Site. You expressly understand and agree that Faircent and its subsidiaries, affiliates, officers, employees, agents, partners and licensors shall not be liable to you for any direct, indirect, incidental, special, consequential or exemplary damages, including, but not limited to, damages for loss of profits, goodwill, use, data or other intangible losses (even if Faircent has been advised of the possibility of such damages), resulting from use of the Site, sale and supply of Products content or any related goods and services.

This limitation of liability section shall prevail over any conflicting or inconsistent provision contained in any of the documents comprising this Agreement. It is up to you to take precautions to ensure that whatever you select for your use is free of such items as viruses, worms, trojan horses and other items of a destructive nature.

The User further with immediate effect waive any right which had accrued to him from using the website to initiate any legal action against Faircent. User also acknowledge that the credibility of a lender or a borrower as depicted upon the website is based on the information that is provided to Faircent. In case there is a non-disclosure of information to Faircent of the information, and the judgment of Faircent is impaired and the ratings or credibility of a lender or a borrower is not found to be correct, Faircent shall not be responsible for any claims or liabilities. Faircent in any event is not responsible for any default in return of money that is borrowed from the lender and the lender shall have exclusive right to initiate proceedings against the defaulter borrower. Faircent do provide the necessary information and support to the lender. However, lender shall not make any claim against Faircent and shall conduct an independent due diligence of the borrower before lending it to him.

18. Indemnity

You agree to indemnify and hold Faircent (and its officers, directors, agents, subsidiaries, joint ventures, and employees) harmless from any claim or demand, including reasonable attorneys’ fees, or arising out of or related to your breach of this T&C, or your violation of any law or the rights of a third party including but not limited to breach of any warranties, representations or undertakings or in relation to the non-fulfillment of any of your obligations under this T&C or arising out of violation of any applicable laws, regulations including but not limited to Intellectual Property Rights, payment of statutory dues and taxes, claim of libel, defamation, violation of rights of privacy or publicity, loss of service by other subscribers and infringement of intellectual property or other rights. This clause shall survive the expiry or termination of this T&C. In the event any excess amount is credited into your account by reason of any system error or human error (‘Wrongfully Credited Amounts’) to which you are not entitled, you shall immediately notify us in writing of the same and shall not withdraw, use, transfer or deal with such Wrongfully Credited Amount in any manner whatsoever. You hereby undertake to indemnify us for any losses, costs, damages, charges and expenses that we may suffer as a result of a breach of this obligation.

19. Severability

If any of the Terms shall be deemed void, invalid or unenforceable for any reason, that condition shall be deemed several and shall not affect the enforceability of any remaining provision.

20. Customer Communication

Faircent will communicate with you through any of the mode using email, SMS and telephone or all of them or any other mode. Account holders must provide a valid email address and contact telephone and/ or mobile number to Faircent for this purpose.
Please note Faircent will not be able to contact the customer in case customer’s number is part of DNC (Do Not Call) list as generated by TRAI (Telecom Regulatory Authority of India). In this case we request customers to call us on our call center number.
When you use the Site or send emails to Faircent, you are communicating with Faircent electronically. You consent to receive communications from Faircent electronically.
From time to time, Faircent will also send you marketing material. If you do not wish to receive such material, you may unsubscribe from our mailing list at any time by using the unsubscribe function in the electronic marketing communication or by contacting at [email protected] You agree that all agreements, notices, disclosures and other communications that we provide to you electronically satisfy any legal requirement that such communications be in writing.

21. Site-Provided Email and Postings

The Site may provide End Users with the ability to send email messages to other End Users and non-End Users and to post messages on the Site. Faircent is under no obligation to review any messages; information or content ("Postings") posted on the Site by End Users and assumes no responsibility or liability relating to any such Postings.

You understand and agree not to use any functionality provided by the Site to post content or initiate communications that contain:

(i) Any unlawful, harmful, threatening, abusive, harassing, defamatory, vulgar, obscene, profane, hateful, racially, ethnically or otherwise objectionable material of any kind, including, but not limited to, any material which encourages conduct that would constitute a criminal offense, give rise to civil liability or otherwise violate any applicable local, state, national or international law.
(ii) Advertisements or solicitations of any kind.
(iii) Impersonate others or provide any kind of false information.
(iv) Personal information such as messages which state phone numbers, social security numbers, account numbers, addresses, or employer references.
(v) Messages by non-spokesperson employees of Faircent purporting to speak on behalf of Faircent or containing confidential information or expressing opinions concerning Faircent.
(vi) Messages that offer unauthorized downloads of any copyrighted or private information.
(viii) Chain letters of any kind.
(ix) Identical (or substantially similar) messages to multiple recipients advertising any product or service, expressing a political or other similar message, or any other type of unsolicited commercial message.
This prohibition includes but is not limited to:
a) a) Using Faircent.com invitations to send messages to people who don’t know you or who are unlikely to recognize you as a known contact;
b) b) Using Faircent.com to connect to people who don’t know you and then sending unsolicited promotional messages to those direct connections without their permission; and
c) Sending messages to distribution lists, newsgroup aliases, or group aliases.c) Sending messages to distribution lists, newsgroup aliases, or group aliases.

22. The Opt-out Practice

a)If you are no longer interested in receiving e-mail announcements and other marketing information from us, or you want us to remove any personal information that we have collected about you, you can opt-out anytime by sending an e-mail about your request to [email protected]

b)We use third-party service providers to serve ads on our behalf across the Internet and sometimes on this site. They may collect anonymous information about your visits to our website, and your interaction with our products and services. They may also use information about your visits to this and other websites to target advertisements for goods and services. This anonymous information is collected through the use of a pixel tag, which is industry standard technology used by most major websites.

23. Links

The Site or third parties may provide links to other World Wide Web sites or resources. Because Faircent has no control over such sites and resources, you acknowledge and agree that Faircent is not responsible for the availability of such external sites or resources, and does not endorse and is not responsible or liable for any content, advertising, products or other materials on or available from such sites or resources. You further acknowledge and agree that Faircent shall not be responsible or liable, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with use of or reliance on any such content, goods or services available on or through any such site or resource.

24. Access to Password Protected/Secure Areas

Access to and use of password protected and/or secure areas of the Site is restricted to authorized Users only. Unauthorized individuals attempting to access these areas of the Site may be subject to prosecution.

25. Acknowledgements

I. You acknowledge that by accepting/providing consent to the Lender-Borrower Loan Agreement (the "Agreement"), the Lender(s) and Faircent shall be deemed to have executed the Agreement upon disbursal of the sanctioned Loan Amount to the Borrower.
II. You acknowledge that the Faircent is not engaged in either grant of loan or borrowing any money from any member of the website.
III. You acknowledge that the Faircent is managing this website and neither Faircent or any of its subsidiary or affiliate has any interest in either grant of loan or in borrowing money from a member registered on the website.
IV. You acknowledge that the Faircent is not at all responsible for any claim or damage in case either the person who has agreed to grant loan has not granted loan or the person who has agreed to repay the loan do not repay the loan.
V. You acknowledge that the Faircent in no manner warrants or guarantees the performance of a service provider that is providing services through the website of Faircent.
VI. You acknowledge that the Faircent in no manner warrants and guarantees that the grantor of loan or the recipient of loan has provided all the information on this website which is true and correct including his address, phone numbers etc.
VII. You acknowledge that it is your responsibility to verify the information about the person on the website and Faircent is in no manner liable if the information provided on this website is untrue or incorrect.
VIII. You acknowledge that Faircent is in no manner responsible for any claim of money or damages in the event one person fails to either grant loan or a person fails to repay the loan or misrepresents about his financial status or commits a fraud or a cheating or any other such illegal act.
IX. You acknowledge that you have taken expert advice from a legal consultant or any other expert so required about your status to lend or borrow on the site.
X. You acknowledge that you are aware of all your rights, duties and applicability of various laws including not limited to Money Lending Act, Income Tax Act, or any other statute, or law, which may govern the lending and borrowing of monies within your State of residence or from where you ordinarily conduct your business.
XI. The Borrower hereby agrees and consents to bear a service charge of Rs. 500/- for any default or delay in the payment of EMI as delayed payment charges, which shall be deducted from the EMI to be paid by the Borrower. For every delayed EMI, this delayed payment charge of Rs. 500/- will be adjusted against that particular EMI and the shortfall (of Rs. 500/-) shall be added to the next succeeding EMI that is due and payable.
XII. You hereby agree and grant your consent to Faircent and its third party vendors/business, that either Faircent, or its third-party vendors/business partners can submit your application for loan to any number of banks, NBFCs and/or other lenders to fulfil your borrowing requirements. However, you shall always have the right to decide, what kind of loan products or services you wish to avail of from these institutions.
XIII. You hereby agree and grant your consent to receive information from Central KYC Registry through SMS/Email on the registered number/email address with us and to search, download, upload and update your CKYC information.
XIV. You hereby acknowledge and confirm that, in accordance with paragraph no. 38(d) of Chapter VI (Part V) of the RBI Master Direction - Know Your Customer (KYC) Direction, 2016, it is your responsibility to promptly inform Faircent of any updates or changes to the documents submitted as part of the KYC process and agree to provide Faircent with the updated document within thirty (30) days of any such change.
XV. You acknowledge and confirm that your current address (residential) is the same as the one provided as part of the KYC documentation process. In the event of any change in your current address, please provide us with the updated address proof at [email protected]. In order to ensure compliance with paragraph no. 40 (c) of Chapter VI (Part V) of KYC Master Direction 2016, apart from obtaining the current address proof, it is required to verify the current address through positive confirmation before continuing to allow operations in your account. Positive confirmation may be carried out by means such as address verification letter, contact point verification, deliverables, etc. In the event such positive confirmation fails for any reason, then as per the KYC Master Directions, Faircent shall be authorized to suspend the operations in your account till such time that the positive confirmation is successfully completed.
XVI. The Lender hereby declares that to the best of our knowledge, the funds being lent on the platform are not derived from any illegal or illicit activities and are in compliance with all applicable Anti-Money Laundering (AML) regulations.

Declaration:

I/We understand that the platform is committed to the highest standards of AML compliance and requires all funds to be from legitimate sources.
I/We declare that the funds provided by us to the borrowers on the platform are not involved in any money laundering activities, terrorism financing, or any other illegal activity.
I/We confirm that I/we have not been involved in any criminal activities and that no investigations or legal proceedings in connection with money laundering or terrorist financing activities are pending against me/us.
I/We agree to provide any additional information or documentation requested by the platform to verify the legitimacy of the funds lent by us and to comply with AML regulations.
I/We acknowledge that the platform reserves the right to report any suspicious activity to the relevant authorities in accordance with AML laws and regulations.
I/We understand that if any information provided under this declaration is found to be false or misleading, the platform reserves the right to take appropriate action, including but not limited to rejecting the proposal and reporting to the relevant authorities.

XVII. You acknowledge that the Platform does not permit the international flow of funds and you agree to comply with this requirement.
XVIII. If you are a borrower, then you hereby acknowledge and agree to undergo a due diligence process required by the platform to be eligible to receive loans. As a borrower, you also agree to the platform undertaking credit assessment and risk profiling and disclosing your information to prospective lenders.
XIX. As lenders and borrowers you acknowledge that Faircent will undertake organizing the documentation of the lender borrower agreements and other related documents on your behalf.
XX. You acknowledge and confirm that you have read, understand, and will adhere to the Grievance Redressal Mechanism of the Company, which is available on the Company's website at https://www.faircent.com/grievanceredressal-policy.html. You understand that your complaint shall be deemed registered on the date you provide complete and necessary information and evidence to the satisfaction of the Company, and the Company's turnaround time will commence from the date that you have supplied complete and necessary information and evidence as required by the Company, for the enforcement of any applicable circular or guidelines.
XXI. You acknowledge that in the event any regulatory changes / alterations / modifications / reviews/ clarifications / prevent the Company from providing the features of the product which were earlier provided, the Company shall have the right to modify / alter / discontinue or suspend such features to ensure compliance with applicable regulatory requirements without the need to seek any further specific or special consent from you. You hereby consent to such modifications, recognizing that any changes / alterations / reviews / modifications / clarifications in the regulations, Master Directions or applicable P2P guidelines, shall always have an overriding effect on the products and the terms on which the products were offered or are being offered.

26.Disclaimer of Warranties

ALL DETAILS OF THE MEMBERS OF THIS FAIRCENT WEBSITE AND THEIR FINANCIAL STATUS, INCLUDED IN OR AVAILABLE THROUGH THIS SITE ARE PROVIDED FOR USE WITHOUT WARRANTIES OF ANY KIND, EITHER EXPRESS OR IMPLIED, FAIRCENT, ITS SHAREHOLDERS, ITS HOLDING COMPANY, ITS SUBSIDIARIES, AND ITS LICENSORS DO NOT WARRANT THAT THE INFORMATION OR OTHER MATERIAL WHICH IS PLACED ON THE WEBSITE BY ANY PERSON IS CORRECT INCLUDING HIS FINANCIAL STATUS OR CAPABILITY OR HAS NOT APPROACHED THE OTHER USER OF THIS WEBSITE WITH A CRIMINAL INTENT TO EITHER CHEAT OR MISAPPROPRIATE OR DENY ANY OTHER USER OF ITS LEGITIMATE CLAIMS. BY UPLOADING ANY CONTENT, REPRESENTATION OR STATEMENT OF YOUR FINANCIAL STATUS OR YOUR PROOF OF RESIDENCE YOU REPRESENT AND WARRANT THAT YOU HAVE THE LAWFUL RIGHT TO REPRODUCE AND DISTRIBUTE SUCH CONTENT AND THAT THE CONTENT COMPLIES WITH ALL LAWS AND IS TRUE AND AUTHENTIC AND IS NOT IN ANY EVENT PLACED ON THE WEBSITE TO DEFRAUD OTHER USERS OR CREATE A FALSE IMPRESSION IN THEIR MINDS THAT YOU HAVE A SOUND FINANCIAL STATUS OR ARE REASONABLY COMMITTED TO DELIVER THE REPAYMENTS ON TIME. YOU ALSO REPRESENT THAT YOU HAVE NOT EVER BEEN ACCUSED TO ANY FRAUD, MISREPRESENTATION OR DEFAULT IN REPAYMENT OF ANY CLAIMS OR MONIES TO ANY THIRD PARTY WHETHER A FINANCIAL INSTITUTION OR NOT. YOU ALSO REPRESENT THAT THERE ARE NO OUTSTANDING DISPUTES IN CONNECTION WITH YOUR MORAL TURPITUDE OR FINANCIAL STATUS. YOU HEREBY REPRESENT AND WARRANT TO FAIRCENT THAT YOU ARE LEGALLY COMPETENT TO EXECUTE, BE BOUND BY AND ADHERE TO TERMS AND CONDITIONS OF TERMS AND CONDITIONS OF FAIRCENT. YOUR USE OF THIS SITE IS SOLELY AT YOUR RISK. YOU AGREE THAT FAIRCENT SHALL HAVE NO RESPONSIBILITY FOR ANY DAMAGES SUFFERED BY YOU IN CONNECTION WITH THIS SITE OR ANY CONTENT CONTAINED THEREIN OR ANY DAMAGE SUFFERED IN THE EVENT OF DEFAULT OR MISREPRESENTATION BY ANY OTHER USER OF THS WEBSITE.

27. Limitation of Liability

UNDER NO CIRCUMSTANCES SHALL FAIRCENT, ITS SUBSIDIARIES, EMPLOYEES, OFFICERS, AFFILIATES, DIRECTORS, AGENTS, SUPPLIERS, SHAREHOLDERS, NON EXECUTIVE DIRECTORS OR ITS LICENSORS INVOLVED IN CREATING, PRODUCING, TRANSMITTING OR DISTRIBUTING PRODUCTS OR SERVICES ON THIS SITE, GRANTING OR RECEIVING LOAN FROM A MEMBER ASSOCIATED WITH THE FAIRCENT WEBSITE BE LIABLE FOR ANY DIRECT, INDIRECT, PUNITIVE, INCIDENTAL, SPECIAL, OR CONSEQUENTIAL DAMAGES THAT RESULT FROM EITHER MISREPRESENTATION, FRAUD, COERCION, BREACH OF TRUST, MISAPPROPRIATION, CHEATING OR FOR ANY OTHER SUCH REASON OF ITS END USERS OR OF THIRD PARTIES INCLUDING BUT NOT LIMITED TO LOSS OF PROFITS AND LOSS OF GOODWILL OR LOSS OF INTEREST.

28. Monitoring

In case it comes to your knowledge that any member of this website has committed default or fraud or misrepresents his financial status than you may inform Faircent in writing and upon receipt of such information Faircent shall call upon such third party to explain the allegations made in your Notice and upon receipt of an explanation from such third party Faircent shall in its own discretion decide as to whether such a person should be prohibited from using the website.

29. Applicable Laws:

Your use of this Site and any Term and Conditions stated in this policy is subject to laws of India.

30. Jurisdiction

Courts of Gurgaon will have exclusive jurisdiction of dealing with all disputes arising from use of this site.

31. Trademarks

The trademarks, logos and service marks ("Marks") displayed on the Site are the property of Faircent and other respective persons. End Users are prohibited from using any Marks for any purpose including, but not limited to use as meta-tags on other pages or sites on the World Wide Web without the written permission of Faircent or such third party which may own the Marks. All information and content including any software programs available on or through the Site ("Content") is protected by copyright. End Users are prohibited from modifying, copying, distributing, transmitting, displaying, publishing, selling, licensing, creating derivative works or using any Content available on or through the Site for commercial or public purposes.

32. Changes to Terms and Conditions

Faircent reserves the right to change these Terms and Conditions of its Service without informing you. You should check our Site for any updated Terms and Conditions.

33. Miscellaneous

If any of these conditions are deemed invalid, void, or for any reason unenforceable, the parties agree that the court should endeavor to give effect to the parties’ intentions as reflected in the provision, and the unenforceable condition shall be deemed severable and shall not affect the validity and enforceability of any remaining condition. From time to time Faircent may offer special promotional offers which may or may not apply to your Faircent account. To avail of such promotional offers, you agree to be bound by any additional terms and conditions for these special offers which are laid down by Faircent. This T&C and the relationship between you and Faircent will be governed by the laws as applicable in India. Any dispute(s) arising out of this T&C will be handled in the competent courts of Gurgaon, India. The failure of Faircent to act with respect to a breach by you or others does not waive its right to act with respect to subsequent or similar breaches. Faircent does not guarantee it will take action against all breaches of this T&C. Except as otherwise, expressly provided in this T&C, there shall be no third-party beneficiaries to this T&C. This T&C constitutes the entire agreement between you and Faircent and governs your use of the Site, superseding any prior agreements between you and Faircent with respect to the Site.

34. Faircent spends considerable time, effort and resources towards recovering outstanding from defaulting borrowers, on behalf of the lenders. Faircent makes all efforts possible including legal process to recover this outstanding. Faircent reserves the right to resolve such outstanding in a conducive manner, which may or may not, lead to loss of interest as well as principal for the lenders.

35. Payment Methods

You can pay Faircent using –payments services deployed by Faircent from time to time. Faircent has also deployed a system of electronic payment of fees, the details of which are available at
www.faircent.com

All transactions are processed in INR

36. As per direction of the Reserve Bank of India at all times Faircent.com makes information available on its website including, without limitation to, following information regarding borrowers to the lenders.

(a) details about the borrower(s) including personal identity, required amount, interest rate sought and credit score as concluded by the NBFC-P2P, based on its own credit algorithm.

(b) details about all the terms and conditions of the loan, including likely return, fees, and taxes, if any;

(c) Faircent requires 4 references from the borrower’s professional or personal contacts for the purpose of verification of the borrower at the time of the disbursement of loan.

(d)The references of the borrower may be contacted by Faircent.com or its designees to know the whereabouts and other details of the borrower in case the borrower for any reason is not reachable or not responding, despite attempts to contact him personally.

(e)On behalf of the lenders and pursuant to the authority granted to it by the lenders via consent molded in the Loan Agreement1, Faircent.com reserves the right to initiate legal proceedings against the defaulting borrowers to recover the loan amounts and interest for the benefit of the lenders.

The privacy of information shared by the borrower/lender with Faircent.com is of utmost importance to Faircent.com, it does not share any personal information of any borrower with any third party unrelated to Faircent.com’s business unless such a disclosure is authorized by law, or the borrower has expressly consented to such a disclosure.

However, by accepting the terms and conditions, having consented to the Loan Agreement between the lender & borrower, the lenders and the borrowers have authorized Faircent.com to share concerned person’s personal information with Faircent.com’s partners, affiliates, employees and agents for administrative purpose. (The term agreement wherever it arises herein this clause it refers to the loan agreement executed between the borrowers and the lenders)

37 Faircent holds the complete right to de-activate any lender/borrower on its own accord if the lender/borrower is suspected or found to be from competition engaging or trying to engage in any malicious activity

38. E-Sign or Virtual Signature

We have also introduced a system where the borrowers and lenders have the opportunity to electronically sign the Lender Agreement. Details about how to sign the Lender Agreement are available at www.faircent.com

39. For further questions related to lending or borrowing kindly visit our FAQ’s section located at https://www.faircent.com/faircent-faq.

40. Faircent is not liable for failure to perform any of its obligations if such failure is as a result of Force Majeure Situation e.g. Acts of God (including fire, flood, earthquake, storm, hurricane or other natural disaster, epidemic), war, invasion, act of foreign enemies, hostilities (regardless of whether war is declared), civil war, rebellion, revolution, insurrection, military or usurped power or confiscation, terrorist activities, nationalisation, government sanction, blockage, embargo, labor dispute, strike, lockout, robbery, theft of data or any interruption or any failure of electricity or server, system, computer, internet or telephone service, or any other act beyond the control of Faircent.

Lender - Borrower Loan Agreement

This Lender - Borrower Loan Agreement (the "Agreement") shall govern the terms and conditions applicable to the Loan (defined below) to be provided to Borrower(s) by the Lender(s) through Faircent.com

Fairassets Technologies India Private Limited (CIN: U67100HR2013PTCO48659) a company incorporated under Companies Act, 1956 and having its corporate office at 5C & 5D, 5th ﬂoor, Lemon Tree, Sector 60, Gurgaon – Haryana 122011, (hereinafter referred to as "Faircent.com" or the "Conﬁrming Party"),

And

Lenders whose details are provided in Schedule II below hereinafter referred to as the "Lenders" which expression unless repugnant to the context shall mean and includes its legal representatives, assignee, nominee(s) and administrator;

And

Borrowers whose details are provided in Schedule II below hereinafter referred to as the "Borrower" which expression unless repugnant to the context shall mean and includes its legal representatives, assignee, nominee(s) and administrator;

WHEREAS: (a) the Borrower(s) have requested the Lender(s) for granting the Loan (hereinafter defined) to the Borrower(s) through Faircent Platform; (b) after considering the request of the Borrower(s), the Lender(s) have agreed to grant the Loan to the Borrower(s) through Faircent Platform, subject to the terms and conditions contained in the Loan Documents (hereinafter defined). The Borrower(s) agrees to this Agreement digitally by click wrap method by clicking on the "I Accept" or "Consent" button/box and the same shall be construed as an express and explicit consent under the existing laws of India, valid, binding and enforceable in accordance with all applicable laws as if the Borrower have signed/endorsed each page of this Agreement. In the event Lender(s) or Confirming Party requires the Borrower to endorse its physical signatures on the Agreement, the Borrower undertakes to comply without any demur. The Lender(s) and Confirming Party shall be deemed to have executed the Agreement upon disbursal of the sanctioned Loan Amount to the Borrower. The Participants understand that the applicable stamp duty payable on this Loan Agreement shall be deemed to be paid as part of the combined stamp duty paid for multiple loans agreements and the same shall be evidenced by the certificate number securely stored in the Confirming Party's system.

1. Deﬁnitions

a. "Borrower's Dues" means the outstanding principal amount of the Loan and other amounts payable by the Borrower(s) to the Lender(s)/ the confirming party as per the Loan Documents, including any interest, Penal Charges, fees, costs, charges, expenses and other sums whatsoever payable by the Borrower(s) to the Lender(s) /confirming party.

b. "Conﬁrming Party" or "Faircent.com"– The term shall mean and include the registered P2P NBFC that owns and operates the Faircent Platform(s) and is an aggregator of Lender(s) and Borrower(s)

c. "Penal Charges" shall mean and include a penalty charged for non-compliance of material terms and conditions of the Agreement by the borrower, which shall include non-payment of the loan and or the interest on the loan, but which shall not be levied in the form of 'penal interest' that is added to the rate of interest charged on the principal Amount of the loan. Penal Charges shall not be capitalised, which means that no further interest shall be computed on such charges. However, this will not affect the normal procedures for compounding of interest in the loan account.

d. "Due Date(s)" means such date(s) on which (a) any amount including principal, interest and/or other charges in respect of the Loan is due and/or payable by the Borrower(s) to the Lender(s) in terms of the Loan Documents; and/or (b) performance of any other obligation(s) required to be complied with by the Borrower(s) under the Loan Documents.

e. "EMI" – The term shall mean and include Equated Monthly Instalments payable by the Borrower(s) to the Lender(s) as per the repayment schedule mentioned in the Key Fact Statement (KFS).

f. "Event of Default" means any event(s) or circumstance(s) specified as such in this Agreement and/or any other event(s) or circumstance(s) referred to/defined as an Event of Default under any of the Loan Documents upon happening of which the entire Borrower(s) Dues becomes immediately payable.

g. "Faircent Platform(s)" shall mean and include all digital footprint, mobile application(s) and website(s) of Faircent.com and/or Confirming Party including www.faircent.com operated under the brand ‘Faircent'.

h. "Key Fact Statement" or "KFS" shall mean and include a standard format document containing the details of Annual Percentage Rate, the recovery mechanism, details of grievance redressal officer designated specifically to deal with digital lending/ FinTech related matter and the cooling-off/ look-up period, apart from all applicable fee and charges and other necessary information.

i. "Lending Service Provider (LSP)" shall mean and include an agent of the Confirming Party who carries out one or more of their functions or part thereof in customer acquisition, underwriting support, pricing support, servicing, monitoring, recovery of specific loan or loan portfolio on behalf of Confirming Party in conformity with extant outsourcing guidelines issued by the Reserve Bank of India.

j. "Loan" – The term shall mean and include the sum of the individual contributions made by all the Lenders (including Top-up Loan if any), disbursed into the bank account updated by the Borrower as per the details in the Schedule II of this Agreement.

k. "Loan Documents" means (i) this Agreement, (ii) the Sanction Letter, and/or (iii) the Key Fact Statement (KFS), and/or (iv) the Terms Of Use agreed at the time of registration on Faircent Platform by the Participant(s).

l. "Material Adverse Effect" means a material adverse effect, in the opinion of the Confirming Party, on or affecting (a) the business, operations, property or condition (financial or otherwise) of the Borrower(s); or (b) the ability of the Borrower(s) to perform its/their obligations under the Loan Documents; or (c) the validity or enforceability of the Loan Documents or the rights or remedies of the Lender(s) and/or Confirming Party under the Loan Documents.

m. "Parties" – The term shall mean and include the Lender(s), the Borrower(s) and the Conﬁrming Party consenting to the terms of this Agreement.

n. "Participant(s)" – The term shall mean and include both the sections of the users i.e. the Lender(s) and the Borrower(s) registered with Confirming Party through Faircent Platform(s).

o. "Sanction Letter" shall mean the sanction letter issued by the Confirming Party containing the relevant commercial and operational terms and conditions applicable to the Loan.

2. Standard Terms & Conditions

These terms and conditions shall be applicable uniformly to all the Participants i.e. Lenders and Borrowers registered with the Conﬁrming Party.

2.1. The Lender(s) collectively agree to lend to the Borrower(s) through the Faircent Platform, a loan for the amount and tenure, with an interest rate, as speciﬁed in schedule I to this Agreement.

2.2. The Borrower accepts the Loan and agrees to repay the amount in the manner as stated in Schedule I and in accordance with the terms and conditions of the Agreement.

2.3. With respect to any matter or any dispute arising under this Agreement, the Lender(s) does hereby authorize the Confirming Party to represent him/her in the court of law or such quasi-judicial authority at the Lenders expense, through the Conﬁrming Party's legal counsel. The Parties hereby agree to submit their disputes to the exclusive jurisdiction of the courts in Gurugram, Haryana.

2.4. Each Participant represent covenants and warrants to each other that:

a. The Participants have read all the terms and conditions, privacy policy, Fair practice code and grievance redressal mechanism and other material available on the Faircent Platform(s).

b. The Confirming Party has the absolute right to cancel the Loan Agreement any time before the disbursal of sanctioned Loan Amount to the Borrower or later, if any time before such disbursal or later, the Borrower is found to have submitted wrong information/ document or any verification/ due diligence checks of the Borrower being received by the Confirming Party turns out to be negative which shall all be termed as a Material Adverse Effect.

c. The Conﬁrming Party may also have arrangement with LSPs whereby the Loan may also be disbursed by the Lender(s) through the Faircent Platform on the basis of information exchange between the LSP and the Conﬁrming Party.

d. Any and all disbursement for Borrower(s) shall be done directly in the bank account of the Borrower(s) or in the bank account of the Borrower's designated nominee in case of disbursals for specific end use, only if the Borrower has specifically provided his consent to the Lender and the Confirming Party. Provided the loan is disbursed directly into the bank account of the designated nominee of the Borrower and any repayment against such Loan shall be received directly in the Escrow bank account of the Confirming Party created for receiving Loan repayments.

e. The Participants hereby irrevocably authorize the Confirming Party to be the sole authority to decide and carry out any and all collection and legal initiatives/ proceedings against the Borrower(s) for recovery of Borrower(s) Dues hereinafter, at its own discretion and in accordance with the recovery mechanism mentioned in the KFS. Confirming Party is hereby also authorized to offer settlement and incentives as recovery tactics and also to outsource the aforesaid collection and/or legal activities to any third party vendors mentioned in the KFS at a fixed fee or commission, if deemed necessary. Any such fee or commission or incentives may be deducted by Confirming Party from the Borrower(s) Dues recovered through such activity.

f. The Participants hereby also understand and agree that if upon initiating all the reasonably possible collection and legal options available to Confirming Party as per industry practices, any loan account remain in default for more than 360 days past due, then Confirming Party shall be authorized to exclude such account(s) from portfolio reporting across platforms to any/all stakeholders. But Confirming Party shall continue to explore collection and/or legal processes for recovery in such accounts even after the said exclusion from reporting and any recovery of any amounts from such loan accounts thereafter shall be duly accounted for by Confirming Party. -The Lender(s) hereby acknowledge, confirm and agree that the Confirming Party shall provide collection and recovery services only on a best-effort basis. The Lenders also agree that the Confirming Party has the right at any time to discontinue these collection services without notice to the Lender.

g. The Participants unconditionally agree to abide by the terms and conditions, privacy policy and other binding material contained on the website of the Conﬁrming Party.

h. The information and ﬁnancial details submitted by the Participants on the website of the Conﬁrming Party are true and correct.

i. The Participants understand that the Conﬁrming Party only facilitates meeting of Lender(s) and Borrower(s) and is not engaged in or responsible for either lending or ensuring that the Borrowers repay the borrowed amounts on time or at all.

j. The Conﬁrming Party is in no manner responsible towards either loss of money or breach of privacy or leakage of any conﬁdential information.

k. The Participants conﬁrm that he/she has not provided any information which is incorrect or materially impairs the decision of the Conﬁrming Party to either register him/her or permits to lend him/her through the website of the Conﬁrming Party.

l. The Participants conﬁrm that all types of communication and monetary transactions transfers between them (borrowers and the lenders) are done online via the Faircent Platform.

m. Each Lender agrees and acknowledges that it is aware of its all rights and duties and has read Master Directions for Non-Banking Financial Company- Peer to Peer lending Platforms dated October 04, 2017, including its prerequisite that a person/institution can lend a maximum amount of Rs. 50,00,000/- (Rupees Fifty Lakhs only) across all peer-to-peer lending platforms and the maximum exposure of a single lender to any particular borrower across all the peer-to-peer lending platforms cannot exceed Rs. 50,000/- (Rupees Fifty Thousand only). The Lender agrees and acknowledges to comply with the regulatory requirements at all points in time and shall inform Faircent.com as and when the limits mentioned above have been reached. The lender lending more than Rs. 10,00,000 (Rupees Ten Lakhs only) across the P2P platforms needs to produce a certificate from a practicing Chartered Accountant certifying minimum net-worth of Rs. 50,00,000 (Rupees Fifty Lakhs).

n. Each Borrower represents that it is aware of its all rights and duties and has read Master Directions for Non-Banking Financial Company- Peer to Peer lending Platforms dated October 04, 2017, including its prerequisite that the borrower has not borrowed more than Rs. 10,00,000/- (Rupees Ten Lakhs only) in aggregate from all peer to peer lending platforms in India, including Faircent Platform.

o.The Lender(s) hereby represent that the funds used for lending on the Platform are surplus resources and are not allocated by the Lenders for any emergency or critical needs, such as medical or financial emergencies. The Lender(s) further represents that they have the financial capacity to absorb any potential losses and defaults in the event the borrower fails to repay the loan and / or interest and acknowledges that a loss of the funds loaned will not result in any financial distress or hardship for the Lender. The Lender(s) accept all associated risks and agree that they are solely responsible for evaluating their ability to bear any losses that may arise.

2.5. Every Borrower agrees to pay interest and additional charges (in the case of a default as explained below) will be payable on the Loan as follows:

a. The Loan amount will carry interest payable to the Lenders in proportion to the sum advanced as loan to the Borrowers by such Lenders, at such rate as may be agreed as per the terms of schedule 1 of this Agreement.

b. Interest along with the principal, will be payable by the Borrowers on or before 15th day of every month starting from the month which follows the month in which the Loan is disbursed by the Lenders through Faircent Platform to the Borrowers. Such repayments of Loan shall continue until the date of complete repayment of loan amount.

c. Transfers made/Amount disbursed by the Lender(s) through the Faircent Platform to the Borrower(s) by the 15th day of any month, the ﬁrst EMI will be scheduled for payment by the Borrower(s) on the next corresponding month of the payout of the loan. For all money transfers made after the 15th day of any month, the ﬁrst EMI will be scheduled for payment by the Borrower(s) in the month after the immediately following month of payout of the loan.

d. Any default by the Borrower(s) of the terms of this Agreement, including but not limited to any default in the re-payment of the loan and interest, will attract the payment of additional charges such as collection fees and Penal charges. This is without prejudice to the Lender's other rights available as per this Agreement and under applicable law.

e. Each Borrower as a party to the Agreement conﬁrms and agrees to pay interest at the agreed rate on the loan amount as per the KFS & schedule I.

f. Every Borrower shall also be liable to pay Penal charges on each delayed EMI payments, of such amount as prescribed in the KFS and schedule I to this Agreement.

g. Provided also that the liability to pay Penal charges shall not entitle the Borrower(s) to set up a defence that no event of default as mentioned hereunder has occurred.

h. Each and every Borrower availing a loan on the website of the Conﬁrming Party may, apart from the Cooling-off period specified in the KFS, in their own discretion and upon payment of due principal, interest and bank charges to the Lenders and fees payable to the Conﬁrming Party can foreclose their loan after three (3) months from the date of his/their ﬁrst EMI (Equated Monthly Instalment). In such an event, the Borrowers shall remain bound to pay all charges due to the Conﬁrming Party if any. Post ascertaining all particulars by the Conﬁrming Party and the payment of dues by the Borrowers this Agreement will stand duly terminated.

i. Borrower(s) shall provide self-attested documents pertaining to all identiﬁcation, ﬁnancial and residential proof as mandated by the Conﬁrming Party.

j. Every Borrower also without any prejudice unconditionally agrees to the EMI (Equated Monthly Instalment) date to be preﬁxed by the Conﬁrming Party as per the Schedule I of this Agreement, which will remain unchanged throughout the tenure of the loan availed unless otherwise stated by reasons presented in writing to the satisfaction of the Conﬁrming Party by the Borrower(s).

k. The Borrowers are also liable to pay the Lenders the interest and to pay the Conﬁrming Party collection fees as stated in the schedule I of this Agreement, for the additional number of days over and above the scheduled EMI (Equated Monthly Instalment) in case the borrowers receive the funds for a period exceeding thirty (30) days from the date of the ﬁrst EMI (Equated Monthly Instalment).

l. The Conﬁrming Party shall also charge a fee from the Lenders & Borrowers for the services rendered during the course of this Loan Agreement, including but not limited to, foreclosure fee, EMI date change fee, bank account change fee, legal fee etc, as clearly speciﬁed in the Section of fees & charges made available on the Faircent Platform(s) which the Parties herein acknowledge to have read and understood. The Borrower's fee may be added into the borrower(s) monthly repayment and the lenders fee may be deducted from the borrower's repayment when it is transferred to the Lender's Bank-account.

m. The Borrower(s) hereby authorizes the LSP for collecting his/her ﬁnancial data commensurate with the LSP's Privacy Policy provided to the Borrower by the Confirming Party, in connection with this Agreement and disclose the same to the Conﬁrming Party for its business purposes.

2.6. The Participants agree to the following related to the loan repayments

a. The loan amount will be disbursed by the Lenders through the Faircent Platform to the Borrower(s) bank account or to the bank account of the designated nominee of the Borrower only if the Borrower has specifically provided his consent to the Lender and the Confirming Party, in case of disbursals for specific end use, by way of a Lender Escrow Account which is solely used to facilitate the Loan disbursement process to the Borrowers. This account is managed by a third-party custodian and the Conﬁrming Party doesn't have any transaction rights for this account or earn any interest on balances held in this account. The Conﬁrming Party is not obliged to pay interest to the Lenders on any unused amount in the Lenders Escrow Account.

b. The repayments to the Lenders by the Borrowers will be routed through the Faircent Platform by way of a Borrower's Escrow Account, which is solely used for the purpose of collecting the repayments. This account is managed by a third-party custodian and the Conﬁrming Party does not have any transaction rights for this account or earn interest on the balance held in this account. The Conﬁrming Party is not responsible for any delay in receiving payments from the Borrowers or for any delay in distributing these repayments to the lenders.

c. Confirming Party may make multiple / single consolidated repayments to the Lender's Bank Account with respect to the EMI received in the Borrower's Escrow Account from the Borrowers, as per the timelines prescribed in the Master Directions for NBFC P2Ps.

d. The Lender(s) would receive consolidated repayments in the Lender's Bank Account through the Faircent Platform, from the Borrower's Escrow Account. The repayments may be staggered if there are multiple Borrowers to whom the Lender(s) has lent monies, has different repayment EMI due dates (e.g. Lender has lent to 4 borrowers where 2 borrowers have a repayment due date on 5th and 2 Borrowers have a repayment due date on 10th – in this case the Lender(s) will receive 2 staggered payments on 5th and 10th of the month respectively.).

e. The Lender(s) authorize the Conﬁrming Party to use the Borrower's Escrow Account to receive the amount against the loan repayments of the Borrowers, on behalf of the Lenders and transfer the repayments to the Lender's Bank Account as per prescribed timelines in Master Direction NBFC P2Ps.

f. The Borrower(s) authorize the Conﬁrming Party to use the Borrower's Escrow Account to receive the amount against the loan repayments into the Borrower's Escrow Account from Borrowers' bank account for repayment to the Lender.

g. The Borrower(s) agrees to provide the following before disbursal of Loan in their bank account -

i. 1 NACH/E-MANDATE instruction favouring Borrower's Escrow Account.

ii. Additional cheques - in case the NACH instructions are not processed by the bank for whatever reasons.

h. The Confirming Party will charge a processing fee to the Lenders as per its schedule of charges mentioned in Schedule I Part B of the Agreement.

i. The Borrower(s) shall not close their bank account without prior intimation to the Conﬁrming Party and in case such an account is closed, the Borrower(s) shall substitute all NACH instructions with immediate effect.

j. The Borrower(s) undertakes not to cancel or terminate their NACH or E mandates nor close their bank account, till any Borrower(s) Dues are pending to be paid as per the Agreement. The Borrower(s) who are in non-compliance of this clause shall be liable to be prosecuted under the relevant Indian penal laws.

k. The Lender(s) shall not close their bank account without prior intimation to the Conﬁrming Party and in case such an account is closed, the Lender shall update the Conﬁrming Party immediately in writing.

l. The Participants (Borrowers and Lenders) will only use KYC compliant bank accounts from banks regulated by RBI for making or receiving payments related to this Agreement.

2.7. A Loan for the amount as per the schedule I to this Agreement, shall be collectively contributed by the Lenders in the Lender Escrow Account which shall be then disbursed as a loan directly to the Borrowers account or to the bank account of its designated nominee, only if the Borrower has specifically provided his consent to the Lender and the Confirming Party, within 7 days of execution of this Agreement, from the Lender Escrow Account. Further the Loan amount may be disbursed by the Lenders through the Faircent Platform in one or more tranches.

2.8. The Lender(s) understands, agrees, and accepts that he/she is entitled to receive only the interest and principal component of the EMIs as per Schedule I of the Agreement.

2.9. This Agreement will automatically terminate and get cancelled and shall have no legal effect if the Borrowers fail to submit NACH/ E-mandate instructions to the Conﬁrming Party, in accordance with this Agreement.

2.10. The Borrowers shall utilise the said Loan only for the purpose as stated in the Schedule II and the loan shall not be utilised for any other purpose.

2.11. Events of Default: At the option of the Lenders, and without necessity of any demand upon or notice to the Borrowers all of which are hereby expressly waived by the Borrowers and notwithstanding anything contained herein the said dues and all of the obligations of the Borrowers to the Lenders hereunder shall immediately become due and payable irrespective of any agreed maturity and the Lenders shall be entitled to enforce its security, including presentation of cheques through the Conﬁrming Party upon the happening of any of the following events:

a. The Borrower(s) do not make their repayments by the Due Date(s) the Borrower's Dues (or part thereof) and/or any amount payable pursuant to the Loan Document.

b. The Borrower(s) cancels or terminates any payment mandate or security created in favor of the Confirming Party without first fulfilling its repayment obligations.

c. Any event or circumstance occurs which the Confirming Party believes is likely to have a Material Adverse Effect or if any circumstance or event occurs which in the opinion of the Confirming Party, would or is likely to prejudicially or adversely affect in any manner, the ability/capacity of the Borrower(s) to perform or comply with its/their obligations under the Loan Documents and/or to pay/repay the Borrower's Dues or any part thereof.

d. If any representations or statements or particulars made in the proposal/application by the Borrowers are found to be incorrect or

e. The Borrower(s) commit any breach of any term set out in this Agreement;

f. If any attachment, distress execution or any other such process is initiated against the Borrower(s);

g. If the Borrower(s) ceases or threatens to cease or carry on its business or profession or if the Borrower(s) cease to be in lawful employment or if, in the opinion of the Confirming Party, the Borrower(s) income/revenues/remuneration has become or is likely to become inadequate or if any Borrower(s) dies or if any Borrower(s) becomes mentally unsound or if any Borrower(s) is imprisoned ;

h. If any action for insolvency is ﬁled against the Borrower(s).

2.12. The rights, powers and remedies given to the Lenders by this Agreement shall be in addition to all rights, powers and remedies given to the Lenders by virtue of any other security, statute or rule of law. The Lenders may exercise a lien or right to set - off with respect to any obligation of the Borrowers on the Lenders in the same manner as if the obligations were unsecured and shall have a lien on all property /credit balance in any other account of the Borrowers or securities of the Borrowers in the possession or custody of the Lenders whether for safe-keeping or otherwise. If upon demand by the Lenders routed through the Conﬁrming Party, the balance outstanding in the Loan account is not repaid within the prescribed time, such credit balance in any account may be adjusted towards dues under the Loan account. In case of any deﬁcit, the deﬁcit amount may be recovered by the Lenders with the assistance of the Conﬁrming Party from the Borrower. Any forbearance of failure or delay by the Lenders in exercising any right, power or remedy hereunder shall not be deemed to be waiver of such right, power or remedy and any single or partial exercise of any right, power or remedy hereunder shall not preclude the further exercise thereof and every right and remedy of the Lenders shall continue in full force and effect until such right, power or remedy is speciﬁcally waived by an instrument in writing executed by the Lenders.

2.13. The Borrowers hereby agree and give consent for the disclosures by the Conﬁrming Party or the Lenders of all or any such;

a. Information and data relation to it;

b. The information or data relating to any credit facility availed of / to be availed by it;

c. Default if any committed by the Borrowers in discharge of such obligation, as the Lenders and the Conﬁrming Party may deem appropriate and necessary to disclose and furnish to Credit Information Agencies and any other agency authorised in this behalf by RBI;

d. Borrowers affirm and declare that the information and data furnished by it/them to the Conﬁrming Party and the Lenders are true and correct.

2.14. The Borrower(s) understands and undertakes that;

a. The Credit Information Agencies and any other agency so authorised may use or process the said information and data disclosed by the Lenders or by the Conﬁrming Party in the manner as deemed ﬁt by them; and

b. The Credit Information Agencies and any other agency so authorised may furnish for consideration, the processed information and data or products thereof prepared by them to Banks / ﬁnancial institutions and other credit grantors or registered users as may be speciﬁed by the Reserve Bank in this behalf.

c. Confirming Party shall require 4 references from the Borrower's professional or personal contacts for the purpose of veriﬁcation of the Borrower at the time of the disbursement of loan, which the Borrower shall duly arrange to provide.

d. The references of the Borrower may be contacted by the Conﬁrming Party or its designees to know the whereabouts of the Borrower in case the borrower for any reason is not reachable or not responding to the representatives of the Conﬁrming Party.

2.15. Indemnity and representation from Borrower(s) and Lender(s)

a. The Borrower(s) shall indemnify and hold the Lender(s) harmless from and against any and all loss, damage or other consequences which may arise or result from giving the Loan to the Borrower(s) and shall reimburse the Lender(s) upon demand all such sums and shall upon request appear and defend at the Borrower's own cost and expenses any action which may be brought against the Borrowers by the Lender(s) or Confirming Party in connection therewith.

b. The Borrower(s) and the Lender(s) acknowledge that the Conﬁrming Party is not obligated to perform any obligation for them and that it is only a facilitator that facilitates the transaction between. In case of any loss or damage caused to the Conﬁrming Party due to any act of commission or omission, directly or indirectly by any one i.e., the Lender(s) or the Borrower(s), or both of them, as the case maybe, the Lender(s) and the Borrower(s) shall jointly and severally indemnify the Conﬁrming Party from and against any and all losses, damages or other consequences which may arise or result from the breach of terms and conditions of this Agreement by the Lender(s) and/or the Borrower(s).

c. Without prejudice to the foregoing, the participants hereby admit and accept that since the Conﬁrming Party is only a platform, which has brought the Lenders and the Borrowers together and is otherwise not responsible or liable for the conduct of the Borrower in any manner, any one or all of such Lenders will not under any circumstances hold the Conﬁrming Party responsible or liable if the Borrower defaults on any of his/her/its obligations towards the Lenders howsoever and wherever prescribed, in any manner whatsoever. Further, the Lenders recognise that the Conﬁrming Party has not made any representation about the Borrower's credit worthiness and that the Lenders will lend / has lent the money to the Borrower(s), only on the Lender's judgement about the Borrowers and relying on the representations made by the Borrowers to the Lenders.

d. In case the Lenders choose to lend to Borrowers on the basis of Borrower's profiles available on the website of the Confirming Party, it is the Lenders' responsibility to select the Borrowers based on the Borrowers' credit profile and according to the Lenders' risk appetite. In such cases, the Lenders must individually review and approve the Borrowers that are filtered based on their profiles selected by the Lenders, before lending to such Borrowers. While the Lenders have authorized the Confirming Party to send proposals to the Borrowers, which have been filtered and approved based on the Lenders' selection criteria set by the Lenders; the Lender(s) has an option to withdraw such proposals. The decision to lend to the Borrowers and to execute this agreement is the sole individual responsibility of each and every Lender and the Borrower.

2.16. The Borrower(s) shall reimburse and pay to the Lender(s) and the Confirming Party all costs, charges and expenses, including stamp duty and legal costs on actual basis and other charges and expenses which may be incurred in preparation of these presents and related to and or incidental documents and enforcement of the rights of the Lender(s) there under or any other document security created / executed by the Borrower(s) in favour of the Lender.

2.17. The Borrowers agree and undertake to accept the statement of account comprising the amount due against the loan account, made available by the Conﬁrming Party through the Faircent Platform as a conclusive, ﬁnal and binding proof of the correctness of any such claim to be due from the Borrower to the Lenders.

2.18. Any Notice or demand in relation to this Agreement hereunder shall be in writing duly issued by officers of Conﬁrming Party on behalf of its Lenders and may be made by leaving the same or sending it through the post/emails, addressed to the Borrower at the address/ email address speciﬁed above or the last known address.

2.19. Borrower(s) hereby, conﬁrms that if there are any changes in residential address, Email address/ phone number, Permanent Address, Employment Status or organization structural changes relating to his/her job proﬁle, the Borrower will intimate the changes to the Conﬁrming Party within 3 working days by addressing an e-mail notifying the changes, to [email protected]. Failing to abide by these conditions shall be considered a breach of this Agreement and entail the Borrower(s) to face legal proceedings or otherwise as deemed appropriate by Lenders.

2.20. Notwithstanding anything to the contrary contained herein, that any dispute, controversy or claim arising out of or in relation to this Agreement, including its construction, meaning, scope or validity thereof, shall be referred to arbitration in accordance with the Arbitration and Conciliation Act 1996 as amended till date, which shall be administered electronically, by an independent arbitral institution by appointing an independent arbitrator in accordance with its Dispute Resolution Rules ("Rules") in consonance with the Arbitration and Conciliation act 1996 as amended till date.

a. The Parties to this Agreement having consented to an electronic arbitration, shall be entitled to carry out the aforesaid proceedings electronically on a designated platform via online arbitration mode.

b. The Parties agree that the aforesaid proceedings shall be carried out by a sole arbitrator appointed by an independent arbitral institution in accordance with the rules of such institution in consonance with the Arbitration and Conciliation Act as amended till date.

c. The juridical seat/venue/place of arbitration shall be Gurugram, Haryana, India.

d. The language of arbitration shall be English.

e. The law governing the arbitration proceedings shall be Arbitration and Conciliation Act, 1996 as amended till date.

f. The decision of the arbitrator shall be ﬁnal and binding on the Parties to this Agreement.

2.21. If any provision of this Agreement is illegal, invalid or unenforceable for any reason, it will be severed from the remaining provisions which then will remain unaffected.

2.22. The Lender(s) are advised to astutely assess all apparent risks and expected beneﬁts before investing. The Conﬁrming Party is a marketplace that carefully assesses and lists Borrower(s) proﬁles for all types of investor(s) with varying risk appetites. The Conﬁrming Party highlights all relevant facts at its disposal for every Borrower; however, decision of investment and the inherent risk of investing rests solely with the Lender(s).

2.23. "Borrower(s) conﬁrm that all the rights vested in the Lender(s) will be granted to the nominee as per the Agreement in the physical absence of the Lender(s) to claim the principal and the accrued interest outstanding as the case maybe."

2.24. The Participants will maintain strict conﬁdentiality of the personal information of the other party, which is disclosed in this Agreement and any unauthorised disclosure will make the receiving Party liable for damages in addition to any other remedy in law, available to the disclosing Party.

2.25. The Borrower acknowledges that he has read and understood the terms and conditions of the loan contained in this Agreement, Key Fact Statement, Sanction Letter, Privacy Policy and Terms of Use accepted by the Borrower and other details related to the loan which are duly available on the Faircent Platform and shall also be enclosed in the Welcome letter to be sent by Confirming Party to the Borrower upon execution of this Agreement and disbursement of Loan. The Borrower agrees that the terms and conditions of this Agreement will prevail over any other documents signed by the Borrower.

2.26. The Lender(s) and Borrower(s) agree to follow the grievance redressal mechanism of the Confirming Party in case of any complaint, which is available on the Confirming Party's website at https://www.faircent.com/grievance-redressal-policy.html.

2.27. The Lender(s) acknowledge that in the event of a loan foreclosure by the Borrower funded by the Lender, the principal amount and any accrued interest up to the date of foreclosure shall be returned to the Lender after deduction of platform fees and other charges. The principal outstanding balance will be adjusted against the principal amount returned, and no further interest shall accrue or be payable to the Lender on the foreclosed amount.

2.28. The Lender(s) hereby agrees, confirms and acknowledges that the Lender has understood all the risks associated with the lending transactions and that the Confirming Party does not assure or guarantee or secure the return of principal and / or interest. The Lenders also understand and agree that there is a likelihood of loss of entire principal and interest in case of default by a Borrower. The Confirming Party does not provide any assurances or guarantees or security for the recovery of loans and / or interest.

2.29. The Borrower(s) and Lender(s) hereby acknowledge that they have read and understood the Master Directions for Non-Banking Financial Company – Peer to Peer Lending Platforms (the "Master Directions") as updated from time to time, as well as any other applicable guidelines, circulars, notifications, and directions issued by the Reserve Bank of India ("RBI") pertaining to NBFC-P2P ('Regulations').

The Borrower(s) and Lender(s) agree to keep themselves informed of any changes to these Regulations and their implications, acknowledging that they shall be bound by such changes including retrospective changes to the Regulations. In the event that any changes /clarification/ review of these Regulations prevent the Confirming Party from providing the features of the products, which were earlier offered, the Confirming Party reserves the right to modify such features and the terms and conditions of such products to ensure compliance with applicable Regulatory requirements without any further consent from the Lenders or the Borrowers. The Borrower(s) and Lender(s) consent to such modifications of the features and the terms and conditions of such products, recognizing that any changes in the Regulations shall have an overriding effect on the features and the terms and conditions of the products.

2.30. The Lender(s) and Borrower(s) hereby agree to the following terms in relation to the funds provided or received through the platform:

a. Both parties declare that the funds involved in this transaction are not derived from any illegal or illicit activities and further comply with all applicable Anti-Money Laundering (AML) regulations.

b. The Lender(s) and Borrower(s) acknowledge that the Confirming Party upholds the highest standards of AML compliance and requires that all funds involved in the transaction originate from legitimate and legal sources.

c. Both Lender(s) and Borrower(s) confirm that the funds provided or received are not associated with money laundering, terrorism financing, or any other illegal activities. Additionally, both parties confirm that they are not involved in any criminal activities, and there are no ongoing investigations or legal proceedings related to such activities.

d. Both parties agree to provide any additional information or documentation requested by the Confirming Party to verify the legitimacy of the funds and to ensure compliance with AML regulations.

e. Both the Lender(s) and Borrower(s) acknowledge that the Confirming Party reserves the right to report any suspicious activity to the relevant authorities, in accordance with AML laws and any applicable laws and / or regulations.

f. Both parties understand that if any information provided in this Agreement is found to be false, misleading, or incomplete, the Confirming Party reserves the right to take appropriate actions, including rejecting the transaction, discontinue the services, withhold funds and report such misrepresentation to the relevant authorities.

2.31. The Lender(s) and Borrower(s) acknowledge that all communications from the Confirming Party will be sent exclusively through their dashboard on the Platform. They agree to regularly check their dashboard and understand that any communication posted there shall be deemed an official communication from the Confirming Party. The Confirming Party is not obligated to send these communications separately via email or SMS tp the Parties.

Schedule I:

This schedule is governed by the terms of the Agreement executed on <<date of execution>> at Gurugram, Haryana.

PART A: Borrower Amortization Schedule

EMI CALCULATIONS

Loan Amount: XXX

Loan Term (Months): XXX

Payments Per Year: XXX

Rate of Interest: XXX

Regular EMI: XXX

EMI due date: XXX

Penal Charges: XXX

CALCULATION OF DETAILS OF EMI:

MONTH	MONTHLY INSTALLMENT	INTEREST AMOUNT PAYABLE TO LENDERS	PRINCIPAL	BALANCE
XX	XX	XX	XX	XX

PART B: Lender Charges

On participation in the / Monthly Lending Plan (MLP)/ Other products/Marketplace, the lender/s lending amount will be disbursed to various Borrowers or groups of Borrowers listed on the platform, that are matched / mapped with the Lenders criteria in selecting the Borrowers. By sending a proposal the Lender(s) are effectively accepting all loan agreements that will be subsequently generated in relation to Borrowers or groups of Borrowers listed under Monthly Lending Plan (MLP) /Other products/Marketplace that are matched / mapped as stated above.

The Faircent Monthly Lending Plan (MLP) product/Marketplace consists of Loans offered to Borrowers who, are either selected by Lenders individually through a manual selection process by the Lender, or as instructed by the Lender, using the Confirming Party's filtering and rating mechanism based on Borrower's profile, which is provided on the Platform for the convenience of the lender(s) to select the Borrowers, who have the repaying capability to provide an aggregate expected return as per the plan chosen by the Lender(s) participating in the MLP. Such Borrowers are listed for selection by the Lenders on the basis of their individual risk and return estimates with the aim to achieve the expected return in the aggregate. If there is any default in the repayment of the loans by the Borrowers the default amount will be published on a monthly basis on the Lender(s) dashboard. There is a possibility of a default by the Borrower in the repayment of the loan and the payment of interest on the loan. The Lenders understand that the Confirming Party follows a transparent and objective pricing structure for all lending transactions. The fees are disclosed to lenders at the outset, i.e., at the time of lending itself, ensuring full disclosure. The fees charged will be a fixed amount or a fixed percentage of the principal amount involved in each lending transaction. These fees are independent of the borrower's repayment performance and will not vary based on the repayment status. The lender agrees that the Confirming Party will charge a Facilitation Fee for services provided, amounting to 0.75 % per month on the lending amount.

Schedule II:

This schedule is governed by the terms of the Agreement executed on <<date of execution>> at Gurgaon, Haryana

Lender's Details

Lender Name	Lender Unique ID	Lender Funded Amount(INR)	ROI (in % )
XX	XX	XX	XX

Borrower's Details

Name:

Father's / Husband's Name:

Address:

Purpose of Loan availed by the borrower:

PAN:

Privacy & Security Policy

Effective Date: Effective from 1st September 2013

Fairassets Technologies Private Limited ('Faircent') values the users of our website (the "Website"). Your privacy and trust are very important to us. We recognize that you may be concerned about our collection, use, and disclosure of the personally identifiable information ("Personal Information") that we collect when you use the Website and the services offered on the Website ("Faircent"). This Privacy Policy describes the information that we collect from you, how we collect this information, and what we do with it after we collect it. By using the Website you are accepting the practices described in this Privacy Policy. By using the Website you also give consent to the use of Your Personal Information by Faircent in accordance with the terms set out in this Privacy Policy. If you have any questions or comments regarding this Privacy Policy, please contact us at [email protected]. You may mark the mail to grievance officer Sweety Kumari at [email protected] or call at 8010052020. If your complaint / dispute is not redressed within a period of one month, you may appeal to the Customer Education and Protection Department of Reserve Bank of India.

DOES FAIRCENT EVER MAKE CHANGES TO ITS PRIVACY POLICY?

We may make changes to the Privacy Policy from time to time. We will notify you of any material changes by sending you an email, posting a notice on the home page of the Website, or posting a notice in your account when you first login after we have made changes. If you receive notification or a change in our Privacy Policy, you must review the new Privacy Policy carefully to make sure you understand our practices and procedures. You may not be able to receive notices from us if your cookies are not set to accept and/or are disabled.

WHAT TYPES OF INFORMATION DOES FAIRCENT COLLECT FROM ME?

SensitivePersonal Data / Information: We collect Sensitive Personal Data / Information that you provide to us, such as your name, mailing address, phone number, email address, credit card number, pan number, tan number, income tax returns, bank account number, passport details, driving license details, personal statements, reasons for seeking finance, income sources and financial information.

Non-Personal Information: We also collect non-personal information from you, such as your browser type, the URL of the previous website you visited, your ISP, operating system, and your Internet protocol (IP) Address ("Non-Personal Information"). Non-Personal Information cannot be easily used to personally identify you.

HOW AND WHEN DOES FAIRCENT COLLECT THIS INFORMATION?

Providing Information to Us: We collect Sensitive /Personal Data / Information from you when you provide it to us. For example, if you purchase a product or services, or make an application for seeking a grant of loan from a borrower, we may collect your name, mailing address, telephone number, credit card number, pan number, tan number, income tax returns, bank account number, passport details, driving license details, personal statements, reasons for seeking finance, income sources and email address. If you create a either a Lender Account or a Borrower Account, we may collect your name, tax identification number, mailing address, email address, credit card number, pan number, tan number, income tax returns, bank account number, passport details, driving license details, personal statements, reasons for seeking finance, income sources and other information that we request during the registration process, and any information that you provide on your Faircent. If you sign up to receive a newsletter, we will collect your email address.

Communications With Us: If you communicate with us regarding the Website or Faircent Services, we will collect any information that you provide to us in any such communication.

Analytic and Reporting Technologies: Like the operators of most websites, we use analytic and reporting technologies to record Non-Personal Information such as Internet domain and host names, Internet protocol (IP) addresses, browser software, operating system types, clickstream patterns, and the dates and times that the Website and Faircent Services are accessed. We also contract with several online partners to help manage, monitor and optimize our Website and Faircent Services and to help us measure the effectiveness of our advertising, communications and how visitors use the Website. To do this, we may use web beacons and cookies.

HOW DOES FAIRCENT USE MY INFORMATION?

Personal Information: We use Personal Information primarily for our own internal purposes, such as providing, maintaining, evaluating, and improving the Website, fulfilling requests for information, and providing customer support. Your personal information shall also be shared with the other members of this website. Upon acceptance of these terms and conditions, you hereby grant us an unequivocal and absolute consent to share your personal information (but not your Sensitive Personal Data / Information) with our affiliates and third parties. Faircent is not required to seek your consent once again in respect of sharing your personal information with our affiliates and third parties. We would further share your personal information with marketing agencies and other businesses if we in our sole discretion understand that your information may be used to market the Website or a product or service. We may also make public, your personal information in relation to any testimonials and feedback that you may provide us with and you hereby grant us the right to make such testimonials and feedback public on any public platform that we may chose. The term “Personal Information” shall include your name, address, e-mail id and mobile phone number, your images and photos, if any, but it shall not include any data in relation to your financial status, income statements, earnings, source of earnings, personal identification numbers, passwords, code numbers, bank account numbers, credit card numbers, expiry dates relationship numbers, CVV numbers, encryptions, cookies and other such electronic details.”

Non-Personal Information: We use Non-Personal Information to track the use of the Website and Faircent Services and for other internal purposes, such as providing, maintaining, evaluating, and improving Faircent Services and the Website.

WHEN WILL FAIRCENT DISCLOSE MY INFORMATION TO THIRD PARTIES?

Disclosure to Successors: We may disclose your Personal Information to any successor-in-interest of ours, such as a company that acquires us. In the event Faircent goes through a business transition, such as a merger or acquisition by or with another company, or sale of all or a portion of our assets, your Personal Information will likely be among the assets transferred. You will be notified via email or by a notice on our Website of any such change in ownership or control of your Personal Information.

Disclosure to Unaffiliated Third Parties: We shall keep your personal information and Sensitive Personal Data / Information private and confidential. We may disclose your Personal Information and/or Sensitive Personal Data / Information to prevent an emergency, to respond to legal requirements, to protect or enforce our rights and policies, to protect or enforce the rights of a third party, or as required or permitted by law (including, without limitation, to comply with a summon or court order).

Disclosure to Third Party Service Providers and Online Partners: We may contract with various third parties who help us provide, maintain and improve the Website and the Faircent Services. For example, we use a third party to process payments made to us, and may subcontract production, fulfillment, analytics, reporting or other operations. We also contract with several online partners to help manage, monitor and optimize our Website and the Faircent Services and to help us measure the effectiveness of our advertising, communications and how visitors use the Website. We will use commercially reasonable efforts to prevent such third parties from disclosing your Personal Information, except for the purpose of providing Services in question. We cannot guarantee that such third parties will not disclose your Personal Information. In no circumstances, Faircent shall disclose data in relation to your financial status, income statements, earnings, source of earnings, personal identification numbers, passwords, code numbers, bank account numbers, credit card numbers, expiry dates relationship numbers, CVV numbers, encryptions, cookies and other such electronic details.

Disclosure of Non-Personal Information: We will disclose Non-Personal Information, in aggregate form, to potential strategic partners, advertisers, investors, customers, and others. You may opt-out of the sharing of this information by mailing the grievance redressal officer. However, it cannot be easily used to identify you personally.

Internet Advertising: We may use third party service providers to serve ads on our behalf across the Internet and sometimes on the Website. They may collect anonymous information about your visits to our Website, and your interaction with our products and services. They may also use information about your visits to this and other websites to target advertisements for goods and services. This anonymous information is collected through the use of a web beacon, which is industry standard technology used by most major websites.

Disclosure to Credit Rating Agencies & Reserve Bank of India: To make an improvement in its business Faircent may share the personal information of a user with Credit Rating Agencies and the information shall be shared with Credit Rating Agencies in the event, Reserve Bank of India issues guidelines or direction in this regard.

WHAT ABOUT COOKIES AND WEB BEACONS?

A cookie is a small file placed on the hard drive of your computer. Most websites use cookies. We use cookies to track your use of the Website and Faircent, provide you with a more personalized user experience, and to allow you to login and begin use of Faircent Services automatically when you visit the Website.
A web beacon is an often-transparent graphic image, usually no larger than a 1x1 pixel that is placed on a web page or in an e-mail that is used to monitor the behavior of the user visiting the Website or receiving the e-mail.
Cookies and web beacons used by Faircent and our online partners are not linked to Personal Information. This Privacy Policy covers the use of cookies and web beacons by Faircent and does not cover the use of cookies or web beacons by any other third party, or advertiser.

DOES FAIRCENT PROTECT MY PERSONAL INFORMATION?

Personal Information: Whenever we obtain your Personal Information, we use commercially reasonable efforts to protect it from unauthorized access or disclosure. However, we are not insurers of the security of your Personal Information. Accordingly, we assume no liability for any disclosure of data due to errors in transmission, unauthorized third party access or other acts of third parties, or acts or omissions beyond our reasonable control.

Website Content: The content that you store, post, or transmit on or through the Website, such as message board postings, storefront pages, and images on your Products, may be accessed by other users, including people that you do not know. We are not responsible for the actions of others. Therefore, you should use care in communicating with other users and only disclose your Personal Information to other users that you know to be trustworthy. You should not assume that your content will be kept private.

HOW CAN I REVIEW AND MAKE CHANGES TO MY PERSONAL INFORMATION?

You can obtain a copy of and request that we correct errors in your Personal Information by emailing us at [email protected]. You may mark the mail to grievance officer.

For your protection, you will be required to provide proof of your identity to obtain a copy of your Personal Information. If your Personal Information changes or if you no longer want to use the Faircent Services, you may correct, update or deactivate your Personal Information and/or your account through the account management screen. If you would like to deactivate or terminate your account you can also contact us at [email protected].

Tell-A-Friend If you choose to use our referral service to tell a friend about the Website or Faircent Services, we will ask you for your friend's name and email address. We will automatically send your friend a one-time email inviting him or her to visit the Website. We store this information for the sole purpose of sending this one-time email and tracking the success of our referral program.

Security The security of your Personal Information is important to us. When you enter sensitive information such as a credit card number on our registration or order forms, we encrypt that information using secure socket layer technology (SSL).
We follow generally accepted industry standards to protect the Personal Information submitted to us, both during transmission and once we receive it. However, no method of transmission over the Internet, or method of electronic storage, is 100% secure. Therefore, while we strive to use commercially acceptable means to protect your Personal Information, we cannot guarantee its absolute security.

Internet-based Transfers
Given that the Internet is a global environment, using the Internet to collect and process Personal Information necessarily involves the transmission of data on an international basis. By providing Faircent with your Personal Information you acknowledge and agree that we may store your Personal Information and transfer it to and from our servers. We endeavor to protect all Personal Information collected through the Website in a safe, confidential and secure manner.

DOES THIS PRIVACY POLICY APPLY WHEN I ACCESS THIRD PARTY WEBSITES?

You may be able to access third party websites directly from the Website. This Privacy Policy does not apply when you access third party websites. We cannot control how third parties may use Personal Information you disclose to them, so you should carefully review the privacy policy of any third party website you visit before using it or disclosing your Personal Information to its provider.

WHAT ABOUT CHILDREN'S PRIVACY?

The Faircent Services are intended for users ages 21 and older only. Accordingly, we will not knowingly collect or use any Personal Information from individuals that we know to be under the age of 21. In addition, we will delete any information in our database that we know originates from an Individual under the age of 21.

COLLECTION OF FINANCIAL SMS INFORMATION

We don’t collect, read or store your personal SMS from your inbox.
We collect and monitor only financial SMS sent by 6-digit alphanumeric senders from your inbox which helps us in identifying the various bank accounts that you may be holding, cash flow patterns, description and amount of the transactions undertaken by you as a user to help us perform a credit risk assessment which enables us to determine your risk profile and to provide you with the appropriate credit analysis. This process will enable you to take financial facilities from the regulated financial entities available on the Platform. This Financial SMS data also includes your historical data.
While using the app, it periodically sends the financial SMS information to our affiliate server and to us.

COLLECTION OF DEVICE LOCATION AND DEVICE INFORMATION

We collect and monitor the information about the location of your device to provide serviceability of your loan application, to reduce risk associated with your loan application and to provide pre-approved customised loan offers. This also helps us to verify the address, make a better credit risk decision and expedite know your customer (KYC) process.
Information the App collects, and its usage, depends on how you manage your privacy controls on your device. When you install the App, we store the information we collect with unique identifiers tied to the device you are using. We collect information from the device when you download and install the App and explicitly seek permissions from You to get the required information from the device.
The information we collect from your device includes the hardware model, build model, RAM, storage; unique device identifiers like IMEI, serial number, SSAID; SIM information that includes network operator, roaming state, MNC and MCC codes, WIFI information that includes MAC address and mobile network information to uniquely identify the devices and ensure that no unauthorized device acts on your behalf to prevent frauds.
We collect information about your device to provide automatic updates and additional security so that your account is not used in other people’s devices. In addition, the information provides us valuable feedback on your identity as a device holder as well as your device behaviour, thereby allowing us to improve our services and provide an enhanced customized user experience to you.

LINK TO THIRD-PARTY SDK

The App has a link to a registered third party SDK which collects data on our behalf and data is stored to a secured server to perform a credit risk assessment. We ensure that our third party service provider takes extensive security measures in order to protect your personal information against loss, misuse or alteration of the data.
Our third-party service provider employs separation of environments and segregation of duties and has strict role-based access control on a documented, authorized, need-to-use basis. The stored data is protected and stored by application-level encryption. They enforce key management services to limit access to data.
Furthermore, our registered third party service provider provides hosting security – they use industry-leading anti-virus, anti-malware, intrusion prevention systems, intrusion detection systems, file integrity monitoring, and application control solutions.

CHANGES IN THIS PRIVACY POLICY

We reserve the right to change, modify, add, or remove portions of this Privacy Policy at any time for any reason. In case, any changes are made in the Privacy Policy, we shall update the same on the Platform. Once posted, those changes are effective immediately, unless stated otherwise. We encourage you to periodically review this page for the latest information on our privacy practices. Continued access or use of the Services constitute Your acceptance of the changes and the amended Privacy Policy.

SECURITY PRECAUTIONS

The Platform intends to protect your information and to maintain its accuracy as confirmed by you. We implement reasonable physical, administrative and technical safeguards to help us protect your information from unauthorized access, use and disclosure. For example, we encrypt all information when we transmit over the internet. We also require that our registered third party service providers protect such information from unauthorized access, use and disclosure.
Our Platform has stringent security measures in place to protect the loss, misuse and alteration of information under control. We endeavour to safeguard and ensure the security of the information provided by you. We use Secure Sockets Layers (SSL) based encryption, for the transmission of the information, which is currently the required level of encryption in India as per applicable law.
We blend security at multiple steps within our products with the state of the art technology to ensure our systems maintain strong security measures and the overall data and privacy security design allow us to defend our systems ranging from low hanging issue up to sophisticated attacks.
In addition, the Website and App have been certified for the following security certifications:

ISO 27001 (formally known as ISO/IEC 27001:2005): is a specification for an information security management system (ISMS) and is the suggested level of certification required under the Information Technology Act, 2000. An ISMS is a framework of policies and procedures that includes all legal, physical and technical controls involved in an organization’s information risk management processes

We aim to protect from unauthorized access, alteration, disclosure or destruction of information we hold, including:

We use encryption to keep your data private while in transit;
We offer security feature like an OTP verification to help you protect your account;
We review our information collection, storage, and processing practices, including physical security measures, to prevent unauthorized access to our systems;
We restrict access to personal information to our employees, contractors, and agents who need that information in order to process it. Anyone with this access is subject to strict contractual confidentiality obligations and may be disciplined or terminated if they fail to meet these obligations;
Compliance & Cooperation with Regulations and applicable laws;
We regularly review this Privacy Policy and make sure that we process your information in ways that comply with it.
Data transfers;
We ensure that Aadhaar number is not disclosed in any manner.

We or our affiliates maintain your information on servers located in India. Data protection laws vary among countries, with some providing more protection than others. We also comply with certain legal frameworks relating to the transfer of data as mentioned and required under the Information Technology Act, 2000 and rules made thereunder
When we receive formal written complaints, we respond by contacting the person who made the complaint. We work with the appropriate regulatory authorities, including local data protection authorities, to resolve any complaints regarding the transfer of your data that we cannot resolve with you directly.

CAN I OPT-OUT FROM RECEIVING COMMUNICATIONS FROM FAIRCENT?

We provide you the opportunity to opt-out of having your Personal Information used for certain purposes. For example, if you purchase a product/service but do not wish to receive any additional marketing material from us, you can indicate your preference on our order form.
If you no longer wish to receive our newsletters and promotional communications, you may opt-out of receiving them by following the instructions included in each newsletter or communication or by emailing us at [email protected]. We also offer you an opportunity to opt-out of certain communications through the account management screen. If you need assistance you may contact us at [email protected].
If we choose to disclose your Personal Information to a third party in a manner that is not set forth in this Privacy Policy you will be notified so that you can make an informed choice about sharing your Personal Information with that third party.

CONSENT MECHANISM AND DATA RETENTION

By continuing to use our website or creating a Faircent Account, you agree to processing, storage, usage, and sharing of the data provided by you, as per the terms of this Policy. We retain and use personal information to provide you with services you explicitly requested for, to resolve disputes, troubleshoot concerns, help promote safe services, measure interest in our services, inform you about offers, products, services, updates, customize your experience, detect & protect us against error, fraud and other criminal activity, enforce our terms and conditions, etc. We may also use your personal information to send you offers regarding various services/facilities which Faircent or its group companies may, from time to time, start. We may occasionally ask you to complete optional online surveys. These surveys may ask you for contact information and demographic information (like zip code, age, gender, etc.). We use this data to customize your experience at Faircent.

If you do not agree with any of the terms of this Policy or wish to revoke any consent you have provided to us and/or the Lending Partner, please write to us at [email protected] . You may write to us to revoke consent for use of any specific data or restrict disclosure to third parties or retention of data beyond expiry of Services or to revoke consent already granted to collect personal data and if required, make the app delete/ forget the data. However, please note that if you revoke any mandatory permissions or revoke the consent to process and store information necessary for providing services or fulfil your obligations, then we may have to cease the provision of Services to you and invoke our rights necessary to safeguard ourselves and the Lenders. You cannot withdraw your consent once you have availed services using the website/ our App till you have closed all services with us and our Affiliates.