Our relationship with you is our most important asset. We want you to feel comfortable and confident when using our Platform (defined hereinafter) and the Services (defined hereinafter). The objectives of these Terms and Conditions of Use (“Terms”) are to inform you of the terms which apply to your access to the Platform and Services, what we expect from you, and what you can expect from us as you use and interact with our Platform and the Services provided by us, our Strategic Partners and third party service providers. Further, you would learn about the following:
(a) our policy regarding the changes and updates to these Terms;
(b) description of the Platform and the Services offered by us, our Strategic Partners and third party service providers;
(c) sign-up process and information required by us;
(d) conditions regarding use of the Platform and the Services;
(f) intellectual property rights and ownership of the content on our Platforms and the conditions of use of such content;
(g) Know Your Client (“KYC”) requirements;(
h) our policy regarding the communications and notifications sent by the Platform;
(i) disclaimers, limitation of liability and indemnification obligations in relation to the Services provided; and
(j) legal rights and obligations in case of violation of these Terms by you.
These Terms apply to and govern the use of or access to the website www.cleartax.in, and on its mobile/web applications (hereinafter, collectively referred to as the “Platform”), by the user (hereinafter, “you”, “your”, or “User”). The Terms shall apply to the User in relation to the relevant Services availed on the Platform.
The Platform is provided by Defmacro Software Private Limited (hereinafter, “Company” “Cleartax” or “our” or “we” or “us”), a company incorporated under the Companies Act 2013, having its registered office at B-3 Lower Ground Floor, School Lane, Naraina Vihar, New Delhi 110028 and its corporate office at 23,24 AMR Tech Park, Block 1, First Floor, Hosur Main Road, Hongasandra, Bangalore, Karnataka PIN:560068.
User and Company are each a “Party” and collectively the “Parties”.
These Terms are an electronic record in terms of the (Indian) Information Technology Act, 2000 and rules thereunder as applicable and as amended from time to time (“IT Act”). This electronic record is generated by a computer system and does not require any physical or digital signatures. These Terms are published in accordance with the provisions of Rule 3(1)(a) of the Information Technology (Intermediary Guidelines and Digital Media Ethics Code) Rules, 2021 framed under the IT Act (as amended from time to time), that require publishing the terms of services and practices for access or usage of Platform and Services. These Terms constitute a binding and legally enforceable contract between the Company and User (as defined below). By registering on or using the Platform or availing the Services, you agree to be bound by the Terms. If you are using the Platform on behalf of an organization, you are agreeing to the Terms on behalf of that organization (in which event, “you”, “your” or “User” will refer to that organization).
You represent that you are at least 18 (eighteen) years of age and have not been previously suspended or removed by the Company, or disqualified for any other reason, from availing the Services or using the Platform. In addition, you represent and warrant that you have the right, authority and capacity to agree to the Terms and to abide by them. You shall not impersonate any person or entity, or falsely state or otherwise misrepresent your identity, age or affiliation with any person or entity. In the event of any violation of the Terms, the Company reserves the right to suspend or permanently prevent you from availing the Services or using the Platform.
If you do not agree to be bound by these terms, you must not use the Platform. By continuing to use the Platform or the Services you expressly agree and undertake to be bound by these terms.Subject to applicable laws, these Terms (and any changes thereto) will become applicable to you retrospectively on and from the date of your first use of the Platform.
1. Changes to these Terms
1.1. Please note that these Terms may change from time to time. We reserve the right to modify or amend these Terms. While we will make reasonable efforts to keep you posted on any updates to these Terms, to make sure that you are aware of any changes, we encourage you to periodically review them whenever accessing or using the Platform to be continuously aware of the changes that we may be carrying out to these Terms.
1.3. If you have any comments or questions regarding the Terms, or wish to report any violation of the Terms, you may contact us at email@example.com.
2. About the Platform and the Services
2.1. The Platform is primarily a technology service provider which inter-alia provides (i) software solutions and access to services, for Goods and Services Tax (“GST”) compliances, and subscription to software such as ClearGST, ClearEWay Bill, ClearE-Invoicing, ClearTDS, and ClearTaxCloud; (ii) you the ability to avail expert assisted tax filing services and other managed services such as services pertaining to compliance with GST laws; (iii) you with the ability to browse, evaluate, compare, subscribe and redeem various financial products and avail execution services for mutual funds units which are offered by asset management companies (“AMC”); (iv) you with finance management, accounts and ledger management, invoice creation and management, functionalities to search GST public records, and payment record management services and generation of reports, and (v) you with, (a) tax management services such as ability to verify tax filing status of returns filed under various tax laws; (b) ability to download returns such as GST returns, challans; (c)tax information services such as information on compliance deadlines for tax returns and other statutory forms, and relevant tax related news published on the internet;. Certain services offered on the Platform are provided through our third-party strategic partners which include without limitation, Right Horizons Investment Advisory Services Private Limited (“Right Horizons”) (hereinafter referred to as “Strategic Partners”). While it is not mandatory for you to use the execution services, certain features of the Platform may not be accessible to you in such case.
2.2. In the event you subscribe to ClearTax’s proprietary software including but not limited to ClearTax ASP GSP GST compliance software, ClearTax E-way bill software, ClearTax E-Invoicing, ClearTDS and ClearTaxCloud. then your use and subscription to the software shall be additionally governed by the terms and conditions of the Cleartax Master Subscription and Services Agreement accessible at https://cleartax.in/legal.
2.3. The Platform also allows you to avail the Services (defined hereinafter) directly from the Company, its Strategic Partners, and third-party service providers associated with the Company from time to time, and the Platform facilitates communication with such Strategic Partners and third parties for availing the Services.
2.4. The services rendered by Right Horizons, the Company and other Strategic Partners and third-party service providers of the Company are collectively referred to as “Services”.
2.5. GST Suvidha Provider Services
2.5.1. The Goods and Service Tax Network (“GSTN”) has setup the information technology and communications infrastructure system for enabling implementation of Goods and Services Tax (“GSTSystem”). The Company is appointed as a GST Suvidha provider (“GSP”) by GSTN and is authorized by GSTN, to provide GSP services including access to GST API’s (“GSP Services”), to the taxpayers and third parties. The third parties may avail GSP Services, to develop an application or system to enable the taxpayer to access the GST System for GST related activities (“Third Party Application”).
2.5.2. Accordingly, you agree that you will be to subject to the terms and conditions of GSTN in relation to availing or accessing GSP Services through our Platform, You further agree that GSTN shall have the sole right and discretion, without any liability of any nature, by all means (whether manual or automated) to accept/ reject any User’s data from being transmitted to the GST System from our Platform, including but not limited to, in case of security breach, data traffic beyond prescribed by GSTN, suspected payload (having virus and/ or malware) or transfer of corrupt data or due to any other reasons as mandated by GSTN.
2.5.4. You represent that you are a duly organised and validly existing entity (as applicable) under the laws of India and accordingly have full power and authority to perform your obligations, as may be required, as per the GSTN terms and conditions and by engaging on the Platform, you will not be in contravention of any applicable laws.
2.5.5. In the event You access only GST APIs through our Platform, you agree and undertake that You shall not implement any technology to store any of your client’s data and/or confidential information of any nature (whether wholly or partially), in our servers or cloud. To the extent that you avail any other Services aside from the GST API, you expressly consent to us retaining the aforesaid information.
2.5.6. You agree and acknowledge that GSTN may prescribe other standards and specifications that it may deem necessary, from time to time in its sole judgment in relation to GST services provided by GSTN which shall be binding on you without any objection.
2.5.7. You hereby agree and acknowledge neither the Company nor GSTN shall have any responsibility or liability in relation to failure of any activity, if such activity may have been initiated by you or your client or by the Company on your behalf, and that has failed or delayed on account of the process of authentication and acceptance of your or your client’s data by the GSTN system or otherwise, including but not limited to failure or delay as a result of, network or connectivity failure, device or application failure, GSTN system’s failure, possible down time at GSTN System’s end or any other technical or non-technical error of any nature, whether foreseen or unforeseen at the time of use of the Services.
2.5.8. In case of any additional obligations are imposed by GSTN on the Company pursuant to its arrangement with the Company, you agree and acknowledge that the such additional obligations shall be binding on you.
2.5.9. You acknowledge that the Company will be maintaining records of all the transactions in relation to the GSTN services provided on its Platform, as required under applicable laws and GSTN authorities will have the right to conduct audit of your records without any notice.
2.5.10. By agreeing to these Terms, you have provided your express consent and acknowledge that the Company will retain/ store your data and confidential information, of any nature (either wholly or partially), in the Company’s servers or cloud or otherwise in any other medium as may be transmitted/ processed/ passed through the Platform.
2.5.11. You agree that you have put all compliance, certifications, and security systems in place in order to ensure secure data transmission by your network to the Platform, without any exposure of breach, theft or loss of data.
2.5.12. In the event you access the Platform or avail GSP services to develop a Third PartyApplication then you additionally acknowledge and agree:
(a) To complete the risk assessment and ensure implementation of adequate security hygiene, best practices, processes and technology to prevent any breach of security and you shall be solely responsible for any liability therefrom.
(b) That any breach of security arising out of events such as hacking shall not be considered as a force majeure event.
(c) That you do not integrate with the GST System directly.
(d) To inform the end user, about data privacy, encryption, authorization features provided by GSTN and your compliance to those features.
(e) To ensure security, privacy and integrity of data from your Third Party Application.
(f) To add and reflect, on your Third Party Application, such disclaimers as GSTN may require from time to time.
(g) To ensure that your Third Party Application is free from any Third Party intellectual property breach.
(h) That you shall not use taxpayer’s data for any purpose other than the purpose permitted by the taxpayer and shall ensure that at no time the you use or misuse or share the taxpayer’s data for any commercial or monetary considerations.
(i) That you shall maintain all audit and transaction logs that are processed through your Third Party Application.
2.5.13. You agree and acknowledge that you:
(a) Will not use the Platform for any unauthorised activities such as (i) activities punishable under Sections 43 and 45 IT Act (such as web scraping, altering source code, hacking, introducing viruses etc.), (ii) activities prohibited under any laws in force, and/or (iii) any activity which contravenes access controls/ service use limits set by GSTN on the GST portal and/or any security feature developed by GSTN, and/or (iv) any activity which is contrary to any other policies of the GST portal; and
(b) shall not, at any time, by using the Services on the Platform:
(i) Imply or state any affiliation with or endorsement of GSTN without direct and express consent of such organisation (e.g., representing oneself as an accredited GSTN associate).
(ii) Manipulate identifiers in order to disguise the origin of any message or post transmitted through the GST portal.
(iii) Monitor the GST portal's availability, performance or functionality for any competitive purposes.
(iv) Overlay or otherwise modify the GST portal or their appearance.
(v) Remove or cover or obscure any advertisement included on the GST portal.
(vi) Rent, leasing, loaning, trading, selling/re-selling access to the GST portal or related data of GST portal.
(vii) Selling, sponsoring, or otherwise monetizing any GST portal service or feature without GSTN's direct and express consent.
(viii) Solicit or collect email addresses or other personal information of GST portal users or GSTN users in any manner.
(ix) Use, disclose or distribute any data obtained in violation of these Terms or the GSTN policies.
2.6. Financial Products
2.6.1. The Company is registered with Association of Mutual Funds of India bearing registration number ARN110027. By using the Platform for investment in regular funds you agree to abide by the ‘Additional Terms for Financial Products’ (Clause 16).
2.6.2. The investment advisory services including for transacting in the direct plan of the schemes of various mutual funds, are rendered by Right Horizons. Right Horizons is registered as an investment advisor with the Securities Exchange Board of India (“SEBI”) bearing registration number INA200002601. You note and agree that the Company is only acting as a technology facilitator for the investment advisory services wherein the role of the Company is limited to the extent of providing the Platform to you. Any transaction in respect of investment advisory services is strictly a bilateral transaction between Right Horizons and you. By using the Platform for availing investment advisory services including for transacting in the direct plan of the schemes of the various mutual funds, you additionally agree to abide by the ‘Additional Terms for Investment Advisory Services’ (Clause 17).
2.7. Refunds: In the event that you (being the merchant/receiver of the payment) receive any payments from your customers by sending payment requests through the Platform, thenyou and your customers acknowledge and undertake that you have provided to your customers, and your customers have received the goods, products or services, and the payments are made by your customers to you in lieu of the same. The Company or its Strategic Partners will not be responsible for the goods, products or services received or any disputes between you (being the merchant/receiver of the payment) and your customers. The merchant/receiver of the payment will be solely responsible for such claims and refunds, and the Company will not be responsible for providing any refunds in relation to the goods, products or services.
2.8. We reserve the right to add, modify or discontinue, temporarily or permanently, the Services and Platform (or any part thereof) with or without cause. We shall not be liable for any such addition, modification, suspension or discontinuation of the Services.
3. Sign-Up and Consent Requirements
3.1. To avail the Services, you will have to provide us with necessary details including but not limited to your name, mother’s name, father’s name, date of birth, gender, Permanent Account Number (“PAN”), signature, marital status, nominee details, cancelled cheque, photograph and video recording, email id, phone number, educational or professional qualification, business name, business address, nature of business, Goods and Service Tax Identification Number (“GSTN”), Tax Deduction and Collection Account Number (“TAN”), bank account details, Unified Payment Interface (“UPI”) ID, and/or other payment related details etc.
3.2. You agree to provide the above stated information, or such other information as may be necessary or required by us to provide the Services, at the time of sign-up or at any subsequent stage. Further, you acknowledge that the act of providing your Aadhaar ID is voluntary in nature unless mandated under applicable law. You may choose to provide us with an alternative KYC proof.
3.3. You warrant to provide true, accurate, current and complete information about yourself and you agree to not misrepresent your identity or your account information. You agree to keep your account information up to date and accurate.
3.4. If you upload information relating to any third parties, you should ensure that any such information is uploaded only after obtaining express written consent from them for using their information on the Platform. Further, you should ensure that express written consent from such persons is obtained to receive communications from the Company regarding: information about us and the Services; promotional offers and services from us and our third party service providers and Strategic Partners, and any other matter in relation to the Services. If such third parties fail to provide written consent, or withdraw consent, you shall immediately cease to use the Services in relation to them. You will be solely responsible for obtaining such consent from third parties and we assume that such consent is sought and received by you if you provide such information relating to any of such third parties any time during the use of the Platform.
3.5. If you provide any information that is false, inaccurate or outdated, or we have reasonable grounds to suspect that such information is false, inaccurate or outdated, we will be entitled to suspend or terminate your account and prohibit any and all current or future use of the Platform by you. You are responsible for maintaining the confidentiality of the account and are fully responsible for all activities that occur under your account.
3.6. You agree to immediately notify us in writing at firstname.lastname@example.org of any disclosure or unauthorized use of your profile or any other breach of security with respect to your profile.
4. Use of and Access to the Platform
4.1. You agree to use the Platform only for lawful purposes, and that you are responsible, liableand accountable for all activities that take place through your use of Platform or availing the Services. We exclude any liability arising out of use of the Platform.
4.2. You understand, accept and agree that the payment facility provided by us is neither a banking nor financial service but we merely act as a facilitator providing an electronic payment option, automated online electronic payment option, for the transactions on the Platform using the existing authorized banking infrastructure and the payment gateway/payment aggregator networks. Further, by providing payment facility, we are neither acting as trustees nor acting in a fiduciary capacity with respect to the transaction.
4.3. Service Level Terms: We will use commercially reasonable efforts to provide you the Platform. We will provide you with reasonable technical support services in accordance with our standard practices. We do not make any commitment that the Platform will be available at all times or during any down time (a) caused by outages to any public Internet backbones, networks or servers, (b) caused by any failures of your equipment, systems or local access services, (c) for previously scheduled maintenance, (d) caused by any third party vendor or service provider of the Company, (e) caused by any failure of systems or servers of any third party including that of the government and its authorities and/or financial institutions such as asset management companies or any financial intermediaries, (f) attributable to events such as strikes, riots, insurrection, fires, floods, explosions, war, governmental action, labor conditions, earthquakes, natural disasters, hacking, phishing or interruptions in Internet services to an area where the Company or its servers are located or co-located, or (g) required pursuant to instructions received by us from any governmental or regulatory authority.
4.4. Updates: From time to time, we may provide upgrades, patches, enhancements, or fixes for the Platform to you generally without additional charge and such updates will become part of the Platform and subject to the Terms. Notwithstanding the foregoing, we shall have no obligation under these Terms or otherwise to provide any such updates. You understand that the Company may cease supporting old versions or releases of the Platform at any time in its sole discretion.
4.5. By accessing or using the Platform or by availing Services, you agree not to:
4.5.1. host, display, upload, modify, publish, transmit, update or share any information (if provided with the functionality to do so on the Platforms) that:
(a) belongs to another person and to which the user does not have any right;
(b) is defamatory, obscene, pornographic, pedophilic, invasive of another’s privacy, including bodily privacy, insulting or harassing on the basis of gender, libellous, racially or ethnically objectionable, relating or encouraging money laundering or gambling, or otherwise inconsistent with or contrary to the laws of India;
(c) is harmful to minors;
(d) infringes any patent, trademark, copyright or other proprietary rights
(e) violates any law for the time being in force;(f) deceives or misleads the addressee about the origin of the message or knowingly and intentionally communicates any information which is patently false or misleading in nature but may reasonably be perceived as a fact;(g) impersonates another person;(h) threatens the unity, integrity, defence, security or Sovereignty of India, friendly relations with foreign States, or public order, or causes incitement to the commission of any cognizable offence or prevents investigation of any offence or is insulting any foreign states;(i) contains software virus or any other computer code, file or program designed to interrupt, destroy or limit the functionality of any computer resource;(j) is patently false and untrue, and is written or published in any form, with the intent to mislead or harass a person, entity or agency for financial gain or to cause any injury to any person.
4.5.2. violate the Terms or any law for the time being in force;
4.5.3. conduct or forward surveys, contests, pyramid schemes or chain letters involving the Services;
4.5.4. impersonate any person or entity, falsely claim or otherwise misrepresent your affiliation with any person or entity, or access the accounts of others without permission, forge another person’s digital signature, misrepresent the source, identity, or content of information transmitted via the Services, perform any other similar fraudulent activity
4.5.5. infringe our or any third party’s patent, trademark, copyright or other intellectual property rights, proprietary rights, rights of publicity or privacy;
4.5.6. use the Services if you are under the age of 18 (eighteen) years;
4.5.7. post or transmit any message (if provided with the functionality to do so on the Platforms) which discloses private or personal matters concerning any person or, is grossly harmful, harassing, hateful and/or disparaging;
4.5.8. post or transmit (if provided with the functionality to do so on the Platforms) any message, data, image or program which is blasphemous, vulgar, or offensive in nature;
4.5.9. refuse to cooperate in an investigation or provide confirmation of your identity or any other information provide by you to us;
4.5.10. remove, circumvent, disable, damage or otherwise interfere with security-related features of the Platform and Services or features that enforce limitations on the use of the Services or the Platform;
4.5.11. reverse engineer, decompile, disassemble or otherwise attempt to discover the source code of as regards Services or Platform or any part thereof, except and only to the extent this is expressly permissible by applicable law;
4.5.12. use the Services or the Platform in any manner that could damage, disable, overburden, or impair it, including, without limitation,
4.5.13. using the Services or the Platform in an automated manner;
4.5.14. modify, adapt, translate or create derivative works based upon the Services and Platform or any part thereof, except and only to the extent that that this is permissible by applicable law;
4.5.15. intentionally interfere with or damage operation of the Services or the Platform or any other user’s enjoyment of it, by any means, including uploading or otherwise disseminating viruses, adware, spyware, worms, or other malicious code or file/ programme with contaminating or destructive features or which are designed to interrupt, destroy or limit the functionality of any computer resource;
4.5.16. use any robot, spider, other automatic device, or manual process to monitor or copy the Platform without prior written permission;
4.5.17. take any action that imposes an unreasonably or disproportionately large load on our infrastructure/network;
4.5.18. use the facilities and capabilities of the Platform to conduct any activity or solicit the performance of any illegal activity or other activity which infringes the rights of others;
4.5.19. use the Platform to collect or obtain personal information, including without limitation, financial information, about other users of the Platform, except and only as expressly provided in the Terms;
4.5.20. use the Services in a manner that results in or may result in complaints, disputes, reversals, chargebacks, fees, fines, penalties and other liability to us, a third party or you.
5.1. While we use commercially reasonable efforts to facilitate provisions of the information, information on compliance deadlines for filing various tax returns and other statutory forms, status of your investments, etc on the Platform, we are not responsible for any errors or omissions, or for the results obtained from the use of or reliance on this information. Specifically, certain links in Platform may connect to other websites maintained by third parties over which we have no control. If you access such links, your use of the third partywebsites will be governed by the policies of such websites. We encourage you to review the terms and policies of such websites.
5.2. Any information, information on compliance deadlines for filing various tax returns and other statutory forms; relevant tax related news made available through the Platform is for general guidance on matters of interest only. In particular, impact of laws and regulations can vary widely based on the specific facts involved. Given the changing nature of laws, rules and regulations, and the inherent hazards of electronic communication, there may be delays, omissions or inaccuracies in such information. Accordingly, the information provided through or in relation to this Platform is so done with the understanding that we are not herein engaged in rendering legal, accounting, tax, or other professional advice and services. As such, it should not be used as a substitute for consultation with professional accounting, tax, legal or other competent advisers. Before making any decision or taking any action, you should consult a professional advisor. You acknowledge that the provision of the Platform or Services does not constitute the provision of any specific advice nor any other professional services or advice of any kind (including any tax services). Any use of the Platform or Services (including reliance on any of the contents therein) is at your sole risk.
5.3. While we use reasonable efforts to facilitate the information made available through the Platform is being obtained from reliable sources, we are not responsible for any errors or omissions, or for the results obtained from the use of or reliance on this information.
5.4. We do not make any representations as to the accuracy or any other aspect of information contained in other websites. All information made available through the Platform is provided "AS IS", with no guarantee, representation, or commitment of completeness, accuracy, timeliness or of the results obtained from the use of this information, and without warranty of any kind, express or implied, including, but not limited to warranties of performance, merchantability and fitness for a particular purpose.
6. Intellectual Property Rights and Ownership
6.1. We own the rights in the design, compilation, and look and feel of our Platform. It also includes rights in all copyrighted works, trademarks, designs, inventions, and other intellectual property. Subject to compliance with these Terms, we grant you a non-exclusive, non-transferable, non-sub licensable, royalty-free, revocable, and limited access to use the Platform and the Services in accordance with these Terms.
6.2. You agree not to copy, distribute, modify or make derivative works of any of our content or use any of our intellectual property rights in any way not expressly permitted by us.
6.3. We may provide you with summary of the news or information that is already available in the public domain. Further we may provide you an electronic link to the original source of such news or information. Upon clicking the electronic link, you may be directed to the website of a third party who has published that news or information. We do not own any intellectual property rights in the information published by such third party.
6.5. Data loss: Data loss is an unavoidable risk when using any technology. You are responsible for maintaining copies of your data entered into the Platform or for availing the Services.
6.6. No compensation: Whatever the cause of any downtime, access issues or data loss, your only recourse is to discontinue using the Platform or the Services.
7. Know your Customer/ Client Requirements
7.1. You agree and provide your express consent to provide certain information and documents that may be necessary to ascertain your eligibility to use the Platform or avail the Services including but not limited to your KYC Documents to us, to entities for whom we act as a technology facilitator and Platform provider including but not limited to Right Horizons , to online payment gateways, operators and aggregators, and, or to our affiliates to use, copy, transmit, process, store, share, analyse, make derivations, and back-up such KYC Documents and information. For the purpose of these Terms, ‘KYC Documents’ shall mean to include mobile number, mother’s name, father’s name, email address, password, date of birth, gender, PAN, signature, marital status, nominee details, cancelled cheque, photograph and video recording, etc. and other information which may be sought either during Sign-up or at any stage later. You agree and warrant to provide valid, true, complete, and up-to-date KYC Documents. You acknowledge and agree that any incorrect or misleading information provided shall constitute a material breach of these Terms.
7.2. We may use your personal data and in order to provide Services to you. Your personal information and KYC documents may be processed by or transferred or disclosed to and/or by third parties like AMC’s, RTA’s (Registrar and Transfer agents), KYC Registration Agency (“KRA”), payment gateways, statutory bodies or agencies, or third-party service providers & Strategic Partners etc.
8. Communication Policy
8.1. You agree to receive communications from the Company regarding: (i) information relating to use of the Platform or Services; (ii) information about the Company and the Services; (iii) promotional offers and services from the Company and its Strategic Partners and third party partners, and (iv) any other matter in relation to the Services. In case you access the Platform on behalf of a third party (after obtaining their prior consent), you acknowledge and agree that we are permitted to send any or all of the above communications to your customers or other third parties whose information you have made available on the Platform.
8.2. We may send alerts to the mobile phone numbers provided by you, either of yourself or your customers or any third parties, via e-mail, SMS, WhatsApp messages or push notifications or any other means. If your mobile number is registered in the Do Not Disturb (“DND”) list of Telecom Regulatory Authority of India, you may not receive SMS from us. In such case, you will be responsible for taking all steps to deregister from the DND list and will not hold us liable for non-receipt of SMS.
8.3. We shall not be under any obligation to confirm the authenticity of the person(s) receiving the alert. You cannot hold the Company liable for non-availability of the SMS/email alert/push notifications service in any manner whatsoever.
8.4. The SMS/e-mail alert/push notification service provided by us is an additional facility provided for your convenience and that it may be susceptible to error, omission and/or inaccuracy. You shall not hold the Company liable for any loss, damages, claim, expense including legal cost that may be incurred/suffered by you on account of the SMS/e-mail alert/push notification facility.
8.5. The clarity, readability, accuracy and promptness of providing the SMS/e-mail alert/push notification service depend on many factors including the infrastructure and connectivity of the network service provider. We shall not be responsible for any non-delivery, delayed delivery or distortion of the alert in any way whatsoever.
8.6. You understand that the Company cannot and does not guarantee or warrant that filesavailable for download through the Platform will be free of viruses, worms or other code that may be damaging. You are responsible for implementing procedures to satisfy your particular requirements of internet security and for accuracy of data input and output.
9. Third party Services on the Platform
9.1. Our Platform includes products and services made available by third party service providers. These third party service providers may have additional terms that apply to you. You agree to be bound by such other additional terms. Third-party products and services are subject to terms and conditions and privacy policies set by their providers. These include how the provider will use your data that you make available to them. The descriptions of third-party products and services that we publish, and any associated links, have been provided to us by the providers. The providers are solely responsible for any representations contained in those descriptions. We don’t endorse or assume any responsibility for third-party products or services.
9.2. We make no representations and hereby expressly exclude all warranties and liabilities arising out of or pertaining to such third-party services, including their accuracy or completeness. Further, all intellectual property rights in and to third party services are the property of the respective third parties.
10. Termination of Access to the Platform
11. Warranties and Disclaimers
11.1. We are a technology Platform service provider. We are not and will not be responsible for any claim or for any damages suffered, whether by you, the third parties of the Users whose information is recorded on the Platform, or any other person or party, that are related, directly or indirectly, to or arise out of the same including any payments made by you or by any third parties of the User using the payment link generated using the Platform.
11.2. YOUR USE OF THE PLATFORM AND THE SERVICES IS AT YOUR SOLE RISK. THE PLATFORM, THE SERVICES ARE PROVIDED ON AN “AS IS” AND “AS AVAILABLE” BASIS. EXCEPT AS OTHERWISE EXPRESSLY PROVIDED IN THESE TERMS, THE COMPANY, ITS STRATEGIC PARTNERS, AND THEIR RESPECTIVE OFFICERS, DIRECTORS, EMPLOYEES, AGENTS AND OTHER REPRESENTATIVES, EXPRESSLY DISCLAIM ALL WARRANTIES OF ANY KIND, WHETHER EXPRESS OR IMPLIED, INCLUDING, BUT NOT LIMITED TO THE IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE AND NON-INFRINGEMENT. WITHOUT LIMITING THE GENERALITY OF THE FOREGOING, THE COMPANY MAKES NO WARRANTY THAT: (I) THE PLATFORM OR THE SERVICES WILL MEET YOUR REQUIREMENTS; (II) THE PLATFORM OR THE SERVICES WILL BE UNINTERRUPTED, TIMELY, SECURE, OR ERROR-FREE; (III) INFORMATION THAT MAY BE OBTAINED VIA THE PLATFORM OR THE SERVICES WILL BE ACCURATE OR RELIABLE; (IV) THE QUALITY OF ANY AND ALL PRODUCTS, SERVICES, INFORMATION OR OTHER MATERIAL, INCLUDING ALL MERCHANDISE, GOODS AND SERVICES, OBTAINED OR PURCHASED BY YOU DIRECTLY OR INDIRECTLY THROUGH THE PLATFORM OR THE WEBSITES WILL MEET YOUR EXPECTATIONS OR NEEDS; AND (V) ANY ERRORS IN THE PLATFORM OR THE WEBSITES WILL BE CORRECTED.
11.3. You acknowledge and agree that certain Services provided on the Platform are further dependent on the functioning of the technology infrastructure of various third parties including that of the government agencies and, or statutory authorities. You agree that the Company shall not be liable or responsible for any discrepancy in the Services owing to delay or failure of any activity by any such third parties including but not limited to delay or failure by government agencies and, or statutory authorities such as Goods and Services Tax Network, National Informatics Centre. The delay or failure may be as a result of, network or connectivity failure, device or application failure, GST’s System’s failure, possible down time at GST System’s end or any other technical or non-technical error of any nature, whether foreseen or unforeseen.
12. Exclusion of Damages
WE SHALL NOT UNDER ANY CIRCUMSTANCES BE LIABLE FOR ANY DAMAGES OF ANY KIND ARISING OUT OF, IN CONNECTION WITH OR RELATING TO THE USE OF OR INABILITY TO USE THE PLATFORM, INCLUDING ANY LIABILITY: (I) AS A PUBLISHER OF INFORMATION; (II) FOR ANY INCORRECT OR INACCURATE INFORMATION OR ANY ‘BUG’ OF THE PLATFORM OR THE SERVICES; (III) FOR ANY UNAUTHORIZED ACCESS TO OR DISCLOSURE OF YOUR TRANSMISSIONS OR DATA; (IV) FOR STATEMENTS OR CONDUCT OF ANY THIRD PARTY ON OR VIA THE PLATFORM; (V) FOR ANY DISPUTES BETWEEN USERS OF THE PLATFORM OR THE SERVICES, OR BETWEEN A USER OF THE PLATFORM OR THE SERVICES AND A THIRD PARTY; OR (VI) FOR ANY OTHER MATTER RELATING TO THE PLATFORM OR THE SERVICES, OR ANY THIRD PARTY. THIS IS A COMPREHENSIVE LIMITATION OF LIABILITY THAT APPLIES TO ALL DAMAGES OF ANY KIND, INCLUDING ANY DIRECT, INDIRECT, SPECIAL, INCIDENTAL OR CONSEQUENTIAL DAMAGES, WHETHER BASED ON BREACH OF CONTRACT, BREACH OF WARRANTY, TORT (INCLUDING NEGLIGENCE), PRODUCT LIABILITY OR OTHERWISE, EVEN IF AN INDIVIDUAL ADVISES US OF THE POSSIBILITY OF SUCH DAMAGES. THE LIMITATIONS OF LIABILITY SET FORTH HEREIN ARE FUNDAMENTAL ELEMENTS OF THE BASIS OF THE BARGAIN BETWEEN THE COMPANY AND YOU. THE PRODUCTS, INFORMATION AND SERVICES OFFERED ON AND THROUGH THE PLATFORM OR THE SERVICES WOULD NOT BE PROVIDED TO YOU WITHOUT SUCH LIMITATIONS.
13.1. Notwithstanding anything contained in this Agreement, you agree to defend, indemnify and hold harmless the Company (and its affiliates, officers, directors and employees) upon demand from and against any and all damages, actions, proceedings, claims, demands, costs, losses, liabilities, diminution in value, loss of earnings, profits and revenue, opportunity costs, expenses (including court costs and reasonable attorneys’ legal fees) in connection with, arising out of, or in relation to (i) breach or non-compliance of its obligations, consents, grants, undertakings, representations or warranties under these Terms, and (ii) misrepresentation, negligence, fraud, willful concealment and misconduct (iii) misuse of the Services and Platform for any illegal or unauthorised purposes; (iv) any injuries to persons or damage to property, body, business character, reputation including theft, resulting from your acts or omissions; (v) any claims by a third party on Company for the acts committed or omitted by you; and (vi) any violation of applicable law.
13.2. You agree that any violation by you will constitute an unlawful and unfair business practice, and will cause irreparable harm to the Company and/ or its Strategic Partners and third party service providers, as the case may be, for which monetary damages would be inadequate, and you consent to the Company obtaining any injunctive or equitable relief that they deem necessary or appropriate in such circumstances. These remedies are in addition to any other remedies that the Company may have at law or in equity. If the Company takes any legal action against you as a result of your violation of these Terms, they will be entitled to recover from you, and you agree to pay, all reasonable attorneys’ fees and costs of such action, in addition to any other relief that may be granted.
14.1. Notice: All notices, requests, demands, approvals, requests for approvals or other communications under the Terms shall be in writing. Notice will be sufficiently given for all purposes as follows: (i) upon delivery when personally delivered to the recipient, (ii) upon receipt when mailed by certified mail (iii) upon delivery when delivered by recognized international overnight courier, and (iv) upon receipt when sent by fax with confirmation.
14.2. Merger/Modification: Each Party acknowledges that it has read the Terms, it understands it, and agrees to be bound by its terms, and further agrees that this is the complete and exclusive statement of the Terms between the Parties, which supersedes and merges all prior proposals, understandings and all other agreements, oral and written, between the Parties relating to the Terms.
14.3. Governing Law and Jurisdiction: These Terms shall be governed by and construed and enforced in accordance with the laws of India. Any controversies, conflicts, disputes, or differences arising out of these Terms shall be resolved by arbitration in New Delhi in accordance with the Arbitration and Conciliation Act, 1996 for the time being in force, which is deemed to be incorporated by reference in this Clause. The tribunal shall consist of 1 (one) arbitrator appointed by us. The language of the arbitration shall be English. The parties to the arbitration shall keep the arbitration confidential and not disclose to any person, other than on a need to basis or to legal advisors, unless required to do so by law. The decision of the arbitrator shall be final and binding on all the Parties hereto. Subject to other provisions in this Clause, courts in New Delhi shall have exclusive jurisdiction over all issues arising out of these Terms or the use of the Services.
14.4. Investment Activity Caution and Advisory: Investment in the securities market (including mutual fund investments) are subject to market risks, please read all investments, offer and scheme-related documents carefully, before investing. For the purposes of these Terms, the term “Offer Document(s)” shall refer to a collective term for Offer Document, Scheme Information Document, Statement of Additional Information, Key Information Memorandum, issued by the AMC that manages the mutual fund or the issuer of the relevant financial product. There is no guarantee for any returns on investments made in mutual fund scheme(s). Past performance of mutual funds/schemes do not indicate the future performance of the schemes and may not necessarily provide a basis of comparison with other investments.
14.5. Morning Star Disclaimer: You acknowledge and agree to the following disclaimer provided by Morning Star India Private Limited© 2020 Morningstar. All rights reserved. The Morningstar name is a registered trademark of Morningstar, Inc. in India and other jurisdictions. The information contained here: (1) includes the proprietary information of Morningstar, Inc. and its affiliates, including, without limitation, Morningstar India Private Limited (“Morningstar”); (2) may not be copied, redistributed or used, by any means, in whole or in part, without the prior, written consent of Morningstar; (3) is not warranted to be complete, accurate or timely; and (4) may be drawn from data published on various dates and procured from various sources and (4) shall not be construed as an offer to buy or sell any security or other investment vehicle. Neither Morningstar, Inc. nor any of its affiliates (including, without limitation, Morningstar) nor any of their officers, directors, employees, associates or agents shall be responsible or liable for any trading decisions, damages or other losses resulting directly or indirectly from the information.
14.6. Severability: If any provision of the Terms is invalid under any applicable statute or rule of law, it is to that extent to be deemed omitted and all other terms and provisions of the Terms shall nevertheless remain in full force and effect so long as the economic or legal substance of the transactions contemplated hereby is not affected in any manner materially adverse to any Party. Upon such determination that any term or other provision is invalid, illegal or incapable of being enforced, the Parties shall negotiate in good faith to modify the Terms so as to effectuate the original intent of the Parties as closely as possible in an acceptable manner in order that the transactions contemplated hereby are consummated as originally contemplated to the greatest extent possible.
14.7. Waiver: A waiver by either Party of any terms or conditions of the Terms in any instance shall not be deemed or construed to be a waiver of such term or condition for the future, or of any subsequent breach thereof. All remedies, rights, undertakings, obligations and agreements contained in the Terms shall be cumulative, and none of them shall be in limitation of any other remedy, right, undertaking, obligation or agreement of either Party.
14.8. RelationshipofParties: The Parties are not employees, agents, partners or joint venturers of each other. You shall not have the right to enter into any agreement on behalf of the Company.
14.9. Entire Terms: The entire understanding between the Parties hereto relating to the subject matter hereof is contained herein and the Parties make no warranties, representations or undertakings hereto except as expressly provided herein.
14.10. Assignment: Notwithstanding anything contained herein, you agree and covenant that the Company may, at its sole discretion, be entitled to assign its rights and obligations under this Terms to any of its affiliates or to any entity, and in such case, such affiliate or entity shall be entitled to enforce these Terms.
14.11. Survival: Notwithstanding any termination, cancellation or expiration of the Terms, the provisions hereof that are intended to continue and survive, shall continue and survive.
14.12. Expenses: Except as otherwise specified in the Terms, all costs and expenses, including fees and disbursements of counsel, financial advisors and accountants, incurred in connection with the Terms and the transactions contemplated in the Terms shall be paid by the Party incurring such costs and expenses.
14.13. ForceMajeure: Neither Party shall be liable for a failure or delay in performing any of its obligations under the Terms if, but only to the extent that, such failure or delay is due to causes beyond the reasonable control of the affected party, including, but not limited to (1) acts of God; (2) fire or explosion (except to the extent caused by the negligence or willful misconduct of the affected party); (3) unusually severe weather; (4) war, invasion, riot, or other civil unrest; (5) governmental laws, orders, restrictions, actions, embargoes, or blockages; (6) national or regional emergency; and (7) injunctions, strikes, lockouts, labor trouble, or other industrial disturbances; provided that the party affected shall promptly notify the other of the force majeure condition and shall exert reasonable efforts to eliminate, cure, or overcome any such causes and to resume performance of its obligations as soon as practicable.
14.14. MaintenanceofRecords: You shall maintain the records independently of the Platform (by way physical copies et cetera) and the Company reserves the right to seek copies of such records for their own use including record keeping. You acknowledge and agree that Company shall have the right to retain your information for as long as it deems fit and to be in compliance with applicable provisions of the law.
14.15. Fees: The Company reserves the right to charge fee for the Services and non-payment may result in denial of Services.
14.16. Contact Us: If there are any questions or grievances or complaints regarding these Terms, you may contact us at the address given below:
Name: Aditya Kumar
Address: 23,24 AMR Tech Park, Block 1,First Floor, Hosur Main Road, Hongasandra, Bangalore, Karnataka PIN:560068
15. General terms for making online payments
15.1 To use the services of the online payment gateway/ payment aggregator service provider, the User shall disclose the exact business category and/or the business sub-category for which it will be using the payment gateway/payment aggregator services. If the User uses the payment gateway/payment aggregator services for any other purpose, the User understands and acknowledges that it shall notify the payment gateway/ payment aggregator service provider and the Company in writing of such change and such change shall be subject to the approval of the payment gateway/ payment aggregator service provider who may include other terms and conditions as it may deem fit.
15.2 In the event You are using any of the Services on the Platform, you agree to provide the Company, as and when necessary, the KYC Documents and other documents requested, including Aadhar card, shops and establishments certificate, utility bills, registrations with tax authorities, memorandum of association, certificate of incorporation, PAN, partnership deed, powers of attorney, etc., and/or any other documents as required under the guidelines, rules and/or regulations issued by the Reserve Bank of India, National Payments Corporation of India, and any other regulatory authorities set up under any applicable laws (“Regulatory Authorities”). The User also expressly consents to the Company forwarding the such documents to the payment gateway/ payment aggregator service provider or Regulatory Authorities.
15.3 The User shall indemnify the Company from and against all losses and damages suspicion in case User engages in any fraudulent, illegal or doubtful payment transactions, online selling of banned items under applicable laws, such as:
(a) Adult goods and services which includes pornography and other sexually suggestive materials (including literature, imagery and other media); escort or prostitution services;
(b) Body parts which includes organs or other body parts;
(c) Child pornography which includes pornographic materials involving minors;
(d) Copyright unlocking devices which includes Mod chips or other devices designed to circumvent copyright protection;
(e) Copyrighted media which includes unauthorized copies of books, music, movies, and other licensed or protected materials; Copyright infringing merchandise;
(f) Copyrighted software which includes unauthorized copies of software, video games and other licensed or protected materials, including OEM or bundled software
(g) Products labeled as "tester," "not for retail sale," or "not intended for resale";
(h) Counterfeit and unauthorized goods which includes replicas or imitations of designer goods; items without a celebrity endorsement that would normally require such an association; fake autographs, counterfeit stamps, and other potentially unauthorized goods;
(i) Products that have been altered to change the product's performance, safety specifications, or indications of use;
(j) Drugs and drug paraphernalia which includes hallucinogenic substances, illegal drugs and drug accessories, including herbal drugs like salvia and magic mushrooms;
(k) Drug test circumvention aids which includes drug cleansing shakes, urine test additives, and related items;
(l) Endangered species which includes plants, animals or other organisms (including product derivatives) in danger of extinction;
(m) Government IDs or documents which includes fake IDs, passports, diplomas, and noble titles;
(n) Hacking and cracking materials which includes manuals, how-to guides, information, or equipment enabling illegal access to software, servers, websites, or other protected property;
(o) Illegal goods which includes materials, products, or information promoting illegal goods or enabling illegal acts;
(p) Offensive goods which includes literature, products or other materials that: a) Defame or slander any person or groups of people based on race, ethnicity, national origin, religion, sex, or other factors b) Encourage or incite violent acts c) Promote intolerance or hatred;
(q) Offensive goods, crime which includes crime scene photos or items, such as personal belongings, associated with criminals;
(r) Pyrotechnic devices (apart from the ones mentioned in the Restricted category), hazardous materials and radioactive materials and substances;
(s) Weapons which includes firearms, ammunition, knives, brass knuckles, gun parts, and other armaments;
(t) Any product or service which is not in compliance with all applicable laws and regulations whether federal, state, local or international including the laws of India;
(u) Merchant who deal in websites depicting violence and extreme sexual violence; or
15.4 The User acknowledges the Company and the payment gateway/ payment aggregator service provider reserves the right to limit or restrict any transaction size, amount and/or monthly volume at any time. For the purpose of clarity, such limitations or restrictions may be imposed for the following reasons including but not limited to limits/restrictions on the number of purchases which may be charged on the User’s account during any time period, rejection of payment in respect transactions with a prior history of questionable charges, unusual monetary value of transaction, etc. Further, as a security measure, the Company and/ or the payment gateway/ payment aggregator service provider may at its sole discretion block any account numbers or transactions from any specific blocked or blacklisted accounts, group of internet protocol addresses, devices, geographic locations and / or any such risk mitigation measures it wishes to undertake.
15.5 The User hereby agrees and acknowledges that the User shall be solely responsible and liable to pay all relevant taxes pursuant to usage of the payment gateway/ payment aggregator services.
15.6 Notwithstanding anything contained in these Terms, the User hereby irrevocably and unconditionally confirms and agree that that the payment gateway/ payment aggregator service provider and Regulatory Authorities reserve the right to reject payments with respect to any transaction for reasons including but not limited to unlawful, unenforceable, doubtful or erroneous transactions, chargebacks, refund, fraud, suspicious activities, authentication and authorization issues, overpayment made due to mathematical errors or otherwise, penalties incurred, transaction related issues, issues in relation to where the transactions were not made in accordance with the requirements of payment gateway/ payment aggregator service provider and/ or the Regulatory Authorities.
15.7 The User agrees to comply with all applicable rules, guidelines, instructions, requestsand actions, etc. made by the payment gateway/ payment aggregator service provider and/or the Regulatory Authorities. The User further acknowledges that the payment gateway/ payment aggregator service provider and/or the Regulatory Authorities may also put limitations and restrictions on the User, at its sole discretion from time to time. In addition, the payment gateway/ payment aggregator service provider and the Company has the right to reverse/reject payments, suspend and/or terminate services, make inspections or inquiries in relation to the transaction, etc. In the event any fines, penalties or other amounts are levied by the payment gateway/ payment aggregator service provider and/or the Regulatory Authorities on the Company, then without prejudice to Company’s other rights under law, the User shall forthwith reimburse the Company an amount equal to the fines, penalties or other amount so levied or demanded.
15.8 The User agrees and expressly consents to provide the Company any documentary evidence as may be required in relation to any disputes relating to rejection/ termination of transactions included any explanatory statements is support of such disputes
15.9 The User expressly consents and agrees to (a) the Company maintaining records in relation to the User’s transactions; and (b) maintaining records by itself in relation to the User’s transactions, for the purposes of inspection by the payment gateway/ payment aggregator service provider, and/or the Regulatory Authorities.
15.10 The User agrees to indemnify the Company in respect of any claims, disputes, penalties, costs and expenses arising directly or indirectly in relation to refunds or chargebacks for all payment transactions initiated by the User on the Platform. In event of rejection of any payment by any payment gateway/ payment aggregator service provider and/or Regulatory Authorities and the Company shall be not responsible to collect the payment from such payment gateway/ payment aggregator service provider or bank directly and in any case shall also not have any responsibility or liability in this regard.
15.11 The Users agree to comply with the KYC rules and regulations set out by the Regulatory Authorities and shall comply with the provisions of anti-money laundering laws, anti-bribery and anti-corruption in adopted by India, United States of America, Office of Assets of Control, United Kingdom and United Nations.
15.12 The User agrees and understands that the Company and the online payment gateway service provider reserves the right to suspend the Payment gateway/payment aggregator services to the User until such time that the User does not discontinue selling such banned/illegal products or does not conform to all applicable laws and regulations in force from time to time.
16 Additional Terms for Financial Products:
The terms set out in this Section apply in addition to the Terms contained in Clauses 1 to 15, if the User opts for purchase and redemption of financial products.
16.1 The Company is an AMFI registered distributor (ARN code: ARN110027) of Mutual Funds and enables Users to purchase units of regular Mutual Funds, details of which shall be made available on the Platform. The data and information provided on the Platform does not constitute advice and the Users should exercise independent judgment while making investment decisions. We, in no way, recommend the Users to invest in any particular product, and the risk and rewards resulting from such investment are to the sole account of the User.
16.2 We are not a resident, incorporated body under the laws of United States of America or Canada, or the European Union (EU). All users in countries other than India understand that by using the Services, they may be violating the local laws in such countries. If you choose to access the Services from outside India, you will be solely responsible for compliance with foreign and local laws of the relevant jurisdiction where you access the Services from. The Company will not be liable for rejections of such applications by AMCs, where you are resident in a jurisdiction outside India. Further, subject to applicable laws, investments from residents in the United States of America and Canada may not be permitted for certain mutual funds.
16.3 We hereby clarify that we are not a mutual fund or an AMC. We merely provide a Platform to you to facilitate the transaction of investment in identified financial products. We will not be liable in any manner with respect to the mutual fund units allotted to you by the AMCs or the mutual funds purchased by you pursuant to execution services provided by Right Horizons.
16.4 The Company does not, and is not obliged to, offer all mutual fund schemes for investment. By limiting the number of schemes on the Platform, the Company does not make any representation as to the quality, bona fides or nature of any AMC or mutual fund scheme, or any other representation, warranty or guaranty, express or implied in respect of such mutual fund schemes. Please invest in the schemes on the Platform only after you have understood the performance, risks and other details relevant to the schemes to your satisfaction.
16.5 You hereby agree and acknowledge that the data and information provided on the Platform does not constitute advice of any nature whatsoever, and shall not be relied upon by you while making investment decisions and you shall be solely responsible for any investment decisions and for the purchase of any mutual funds on the Platform.
16.6 We will not be liable if your instructions are rejected by the bank or an AMC, Registrar & Transfer Agent (“RTA”) or any other third party. We further shall not be held responsible for non-availability or non-accessibility of the Platform, or processing of instructions authenticated by your login credentials.
16.7 The Company’s facility is not offered nor is it intended to serve as a vehicle for frequent trading that seeks to take advantage of short-term fluctuations in the market. You agree and acknowledge that the AMCs or its RTAs, in its sole discretion may reject any purchase or exchange of mutual fund units or other financial products that it reasonably believes may represent a pattern of market timing activity, money laundering, fraud, misuse or the like.
16.8 Definitions for the purposes of this Section:
16.8.1 “User” means any eligible person who invests or desires to invest in regular Mutual Funds through the Platform.
16.8.2 “Account” shall mean the account opened by the Registered Users with the Company, for using the Platform.
16.8.3 “AMC” shall mean and include Asset Management Company.
16.8.4 “Cleartax Services” for the purpose of this Clause 16 means the service of access to Platform for the purchase, SIP, STP, pause, switch and redemptions of units of regular Mutual Funds on the Platform by Users, on the terms and conditions as mentioned.
16.8.5 “Mutual Fund” means a fund established in the form of a trust to raise monies through the sale of units to the public or a section of the public under one or more schemes for investing in securities including money market instruments or gold or gold related instruments or real estate assets.
16.8.6 “NAV” shall mean Net Asset Value.
16.8.7 “Offer Document” means the Statement of Additional Information (SAI) and Scheme Information Document (SID) to be issued for inviting subscription to Units of any Scheme, as amended from time to time and includes Key Information Memorandum (KIM).
16.8.8 “Registered User” (also referred to “I” or “We”) shall mean and include the Users who have an Account with the Company to avail Services or any part thereof, as provided on the Platform.
16.8.9 “RTA” shall mean Registrar and Transfer Agent.
16.8.10 “Scheme(s)” means any scheme or schemes launched by an AMC from time to time.
16.8.11 “SIP” shall mean Systematic Investment Plans.
16.8.12 “STP” shall mean Systematic Transfer Plans.
16.8.13 “Unit Certificate/Account Statement” means a certificate/ account statement in any form issued to the holders of the Unit(s) under any Scheme of the Mutual Fund.
16.8.14 “UnitHolder” means a person who is the registered holder of Unit/Units of any Scheme of the Mutual Fund.
16.8.15 “Unit” means the interest of the investors in any Scheme consisting of each Unit representing one undivided share in the assets of that Scheme as evidenced by a unit certificate/ account statement.
16.9 Registration of the User
16.9.1 Access to Cleartax Services will be granted by the Company only to the Registered User once the User has enrolled for the Cleartax Services.
16.9.2 User shall provide the required details and the documents for the purpose of the registration including:
(a) A valid email address has to be provided and a password has to be created.
(b) PAN Card details and a copy of the PAN card
(c) Mobile Number
(d) Aadhaar Card Details
(e) Know-Your-Client (“KYC”) details (as required for provision of services)
(f) Bank Account Details
(g) Address proof
16.9.3 The above provided information/details shall be uploaded by the User in soft copy form on the Platform at the time of enrolment. Once the information is received by the Company, and upon completion of the attestation requirements (if applicable), the documents shall be provided to the concerned regulatory authority/Mutual Fund company for the purpose of opening an Account with the Company for the transaction to be made by the User.
16.9.4 During the registration process, the User will be prompted to sign on the mobile screen. The Platform will capture the signature of the User and will utilize only for the purpose of completing the registration formalities – namely, KYC form, Cleartax account opening form and for account opening formalities with intermediaries (for instance, stock exchanges), as may be applicable from time to time. The signature does not allow the Company to undertake any transactions.
16.9.7 The Account of the User will be activated after the Company completes the verification process on the information and documents provided at the time of enrolment and in accordance with the KYC guidelines issued under the applicable laws.
16.9.8 To the extent permitted under applicable laws, all information submitted by the User to the Company (except for the personal identifiable information and KYC documentation provided by the User, which shall be by virtue of its nature, be deemed to be proprietary information of the User) whether through the Platforms or otherwise shall be deemed to be the property of the Company, and it shall be free to use any ideas, concepts, know-how or techniques provided by such users at the Platform, in any manner whatsoever.
16.10.1 Subject to applicable laws, transactions (in relation to SIPs and STPs) will be pursuant to the Registered User executing the instructions, in the manner and form as prescribed by the Company on the Platform from time to time. The instructions will be applicable to all SIP, STP transactions whether presently existing or to be opened in future. User agrees that, upon granting such instructions for SIP, STP transactions, User will be bound by the terms of the relevant SIP and STP scheme of the Mutual Fund to which the Registered User subscribes.
16.10.2 The Registered User acknowledges that any transaction done or purported to be done by User on a business day would be processed within a reasonable time in accordance with the applicable laws, depending on the process adopted by the concerned AMC. The Registered User will be allotted Mutual Fund units by the respective AMC in accordance with the SEBI regulations and the relevant AMC’s norms, applicable for NAV and for such allotment. This will be applicable to switch and redemption transactions also.
16.10.3 While the Company shall make every effort to ensure adherence to the above timelines, it shall in no way be responsible or held liable for any delay thereof, including for loss of interest and / or opportunity loss and / or any loss arising due to movement in NAV or any other losses, liabilities, damages, costs, charges, expenses which the investor(s) may sustain, incur or suffer or be put to or become liable or incur directly or indirectly by reason or as a consequence of any delay thereof.
16.10.4 Purchase requests made through the Platform shall be processed by the respective Mutual Funds/ AMCs only after funds sufficient to cover the purchase price and other costs and charges have been received by the respective Mutual Funds/ AMCs. Payments towards the purchase price and other costs and charges shall be made by the Registered User through NEFT (National Electronics Funds Transfer) or the payment gateway or other electronic means made available by the Company on the Platform. If for any reason the Mutual Fund/ AMC is unable to allow a transaction for purchase or redemption of the full quantity of Units such as transacted by a Registered User through the Platform, the respective Mutual Fund shall be entitled to process a lesser quantity of units being purchased or redeemed (as the case may be) by such Registered User. In such case, the Company shall not be responsible for the non-execution of transactions for the entire quantity or the remaining quantity of units.
16.10.5 The Registered User agree and acknowledge that Cleartax Services provided herein are presently available in respect of select Mutual Funds only with AMCs whom the Company has entered into a separate arrangement.
16.10.6 Not all the products offered on Platform are available in all geographic areas and a User may not be eligible for all the products offered by the Company on the Platform in case the User is a resident of such geographic area. The Company and the AMCs reserves the right to determine the availability and eligibility for any product or service.
16.10.7 The Company shall not be liable if any transaction does not fructify or may not be completed or for any failure on part of the Company to perform any of its obligations under these terms and conditions or those applicable specifically to its services/facilities if performance is prevented, hindered or delayed by a force majeure event and in such case its obligations shall be suspended for so long as the force majeure event continues.
16.10.8 There may be an exit load, stamp duties and taxes applicable to certain Mutual Fund schemes which is mentioned in the respective offer documents including SID KIM and addendums issued thereto from time to time (collectively referred to as “scheme related documents”) or under the applicable laws. Such exit loads, duties and taxes will be borne by the User. The User acknowledges that it/he/she has read all the scheme related documents before making any transaction with the Company.
16.10.9 Investments made by persons from abroad may not be permitted in certain mutual funds. The Company/ its respective partners shall not be liable for rejection of an application by Mutual Funds, where the investor is from abroad or such other prohibited investors as may be specified in the respective scheme related documents from time to time.
16.10.10 The Registered User acknowledges that the Units of the Scheme shall be allotted, redeemed or switched, as the case may be, by the respective Mutual Funds at the applicable NAV of the concerned Mutual Fund Scheme as provided by Mutual Funds and consistent with the terms of the Scheme. However, the Company shall not be liable for any loss that may be suffered by the Registered User as a result of incorrect NAV applied on the Units allotted to them by the Mutual Fund.
16.10.11 The Registered User acknowledges that any transactions done on a gazetted holiday/ day on which the AMCs are not functioning or after the cut-off time mentioned on the Platform, would be processed on the next business day and the NAV would be applicable as per the respective scheme related documents. Subject to applicable laws, the cut-off timings for the Platform may be prior to the statutory cut-off timing specified under the applicable laws and the SID for operational convenience.
16.10.12 The Registered User acknowledges that transactions once placed cannot be cancelled. However, they can withdraw money by redeeming the Mutual Fund Units. Upon such withdrawal, the settlement amount towards the Mutual Fund or the Units of Mutual Fund shall be credited to the registered bank account of the Registered User within the time period prescribed under the applicable laws.
16.10.13 The Registered User acknowledges that any directions pertaining to all transactions including withdrawal, STP and switch transactions provided by them from their Account shall be considered as the bona-fide order placed by the User
16.10.14 The Registered User acknowledges that they have read and understood the contents of the Mutual Fund Scheme related documents and the details of the scheme and they have not received or been induced by any rebate or gifts, directly or indirectly, in making investment. They hereby declare that the amount invested/to be invested in the Scheme(s) of Mutual Fund (s) is derived through legitimate sources and is not held or designed for the purpose of contravention of any act, rules, regulations or any statute or legislation or any other applicable law or any notifications, directions issued by any governmental or statutory authority from time to time.
16.10.15 In case of a regular scheme, the Company shall disclose all the commissions (in the form of trail commission or any other mode) to the User, payable to it for the different competing schemes of various Mutual Funds.
16.10.16 The Company shall not be liable for any direct or indirect loss or damage caused by reason of failures or delay by the AMC/ Mutual Fund to deliver any Units purchased, even though payments have been made for the same, or failure or delay in making payment in respect to any Units sold, though they may have been delivered and the Registered User shall hold the Company harmless and free from any claim in respect thereof. The Company shall also not be liable for any delay, failure or refusal of the Mutual Fund in registering or transferring Units to the Registered User or for any interest, dividend or other loss caused to them arising therefrom.
16.10.17 The Registered User acknowledges that all orders for purchase or redemption of any financial products made through the Registered User’s account will be deemed to have been given by the Registered User, and the Company will not be responsible for any unauthorised usage of the Registered User’s account.
16.10.18 We may implement surveillance mechanisms on any of the financial products or limits on subscription to financial products through the Platform. Further, we reserve the right to reject any order placed through the Platform for any reason, including as a result of surveillance mechanisms implemented by us.
16.11 Using KYC data of the investors
Registered User hereby allow the Company to utilize their KYC information such as identity (name, PAN, age etc.), address and signature for sending it to the AMC for the purpose of availing the Services (including, without limitation validation of Account) and to comply with the legal and regulatory requirements. The Registered User agree and understand that they shall be solely liable to inform the Company / AMC in case of any change in their KYC information including change in signature/ signatories etc.
16.12 User Undertaking
The Register User hereby acknowledge, agree and undertake that-
16.12.1 “I have read, understood and agreed to the terms of the relevant Offer Document / Scheme Information Document of the respective Scheme/s, Key Information Memorandum, such declarations, undertakings, risk factors and disclaimers as contained in the Offer Document / Scheme Information Document of the Schemes of the Mutual Fund and all changes thereto as informed by the AMC from time to time.
16.12.2 The amount invested in the Scheme is derived through legitimate source only and is not designed for the purpose of the contravention of any Act, Rules, Regulations, Notifications or Directives of the provisions of the Income Tax Act, Anti Money Laundering Laws, Anti-Corruption Laws or any other applicable laws enacted by the Government of India from time to time.
16.12.3 I will provide copy of the Permanent Account Number (PAN) at the time of investment and produce the original PAN Card for verification to the Company, upon the Company’s request. I expressly authorise the Company to share my PAN to the AMC/Authorized Registrar.
16.12.4 I have not received nor have been induced by any rebate or gifts, directly or indirectly in making this investment.
16.12.5 I/We confirm that the funds invested in the Scheme, legally belongs to me/us. In the event that the KYC process is not completed by me/us to the satisfaction of the Mutual Fund, (I/we hereby authorize the Mutual Fund, to redeem the funds invested in the Scheme, in favour of the applicant, at the applicable NAV prevailing on the date of such redemption and undertake such other action with such funds that may be required by the law.) The Company has disclosed to me/us all the commissions (trail commission or any other mode), payable to it for the different competing Schemes of various Mutual Funds amongst which the Scheme is being recommended to me/ us.
16.12.6 I/We confirm that I/We do not have any existing Micro SIP/Lumpsum investments which together with the current application will result in aggregate investments exceeding INR 50,000 (Indian Rupees Fifty Thousand) in a year (Applicable for Micro investment only.) with Axis AMC.
16.12.7 For NRIs only – I / We confirm that I am/ we are Non-Residents of Indian nationality/origin and that I/We have remitted funds from abroad through approved banking channels or from funds in my/ our Non-Resident External / Non-Resident Ordinary / FCNR account.
16.12.8 I/We confirm that details provided by me/us are true and correct.
16.13 No Objection from The User
The Registered User acknowledges and grants no objection to the Company to perform or place transaction requests for them on the Platform and at their own risk and cost, all or any of the following acts, deeds matters and things:
16.13.1 To forward the Registered User’s transaction data and requests to the respective Mutual Funds/ AMCs with respect to the instructions and orders of sale, purchase, transfer, splitting and consolidation of Mutual Funds units.
16.13.2 To transmit to the Mutual Fund, information relating to user nomination/changes in investment plan/ any other changes made through the online Platform.
16.13.3 To obtain and forward to the AMC, its Authorised Registrar user’s information as available in the KYC records, including user signature(s).
16.13.5 To contact the Registered User regarding matters pertaining to the operation of the User’s Account including, but not limited to, for servicing of the User’s requests, communication of special offers, new product launches and product recommendations. You agree that you hereby provide the Company express consent to override any registration for Do Not Call (“DNC”) / National Do Not Call (“NDNC”).
16.14 Holding pattern and User details:
16.14.2 The other requisite data (which is not part of the form) required to be reported to the AMC will be extracted from Account details maintained for the First holder.
16.14.2 The other requisite data (which is not part of the form) required to be reported to the AMC will be extracted from Account details maintained for the First holder.
16.15 Account Statement:
You agree and acknowledges that it shall be the obligation of the AMC and not of the Company to regularly send the Registered User such communications as required under the SEBI Regulations.
We recommend that you provide the Company and the AMC of the relevant mutual fund with the details of your nominees at the time of creation of your Account. In case you do not wish to nominate any individual, you must provide the Company a separate confirmation stating your intention for non-nomination, failing which the form may be rejected at the discretion of the AMC/Mutual Fund.
16.17 Fees and Charges
16.17.1 While currently, Cleartax Services offered by the Company are free of transaction charges, you acknowledge that the Company reserves the right to charge fees in the future for it or any other services offered by it. Any such changes will be communicated by the Company via email and will be displayed on the Platform. Under such circumstances, you have the option to transfer your assets out of your Account without incurring any costs payable to the Company. The fees and charges levied will be subject to the terms of the relevant payment gateway service provider, including but not limited to the terms set out under Clause 16.18 below.
16.17.2 You agree and understand that any such charges/fees that the Company may choose to levy will be in addition to those levied by the Mutual Funds, if any. All fees, charges and reimbursement of expenditure shall be paid or made in full by you without any counter claim, set off or withholding. All your liabilities and obligations hereunder to the Company, and the Mutual Fund/AMCs/trustees of the AMC shall be joint and/or several, as the case may be.
16.18 Online Payment – Payment Gateway Terms
16.18.1 The funds transfer for purchase of units of Mutual Funds will be done by using an electronic payment gateway facility, ONLY internet banking facility shall be offered for transaction on the Platform, through a third-party payment gateway service provider regulated by the Reserve Bank of India. The Registered User cannot use or permit the use of the payment gateway or any related services for any illegal or improper purposes.
16.18.2 The Registered User shall utilize the payment gateway at their own risk. These risks would include but not be limited to the following risks and the Company disclaims all liability and responsibility for any claims, losses, damages, costs of whatsoever nature arising due to such risks:
(a) Misuse of Password: If any third party obtains access to user password of the Account, such third party would be able to transact on Platform.
(b) Internet Frauds: The internet per se is susceptible to a number offrauds, misuse, hacking and other actions, which could affect payment instructions given using payment gateway or the transactions done using Platform. Whilst the Company shall aim to provide security to prevent the same, there cannot be any guarantee against such internet frauds, hacking and other actions. The Registered User shall separately evolve/evaluate all risks arising out of the same.
(c) Mistakes and Errors: The filling of applicable data for transfer would require proper, accurate and complete details. In the event of the Account receiving an incorrect credit by reason of a mistake committed by any third-party, the concerned Mutual Fund/AMC or the bank shall be entitled to reverse the incorrect credit at any time whatsoever without the consent of the Registered User, who shall be liable and responsible to accept any such instructions received from the AMC, without questions for any unfair or unjust gain obtained by the Company as a result of the same.
(d) Technology Risks: The technology for enabling the transfer of funds and the other services offered by the electronic payment gateway and the Company could be affected by virus or other malicious, destructive or corrupting code, program or macro. The Company’s site or the bank may require maintenance and during such time it may not be possible to process the user request. This could result in delays in the processing of transactions/payment instructions or failure in the processing of transactions/payment instructions and other such failures and inability. The Registered User understand that the Company disclaims all and any liability, whether direct or indirect, whether arising out of loss or profit or otherwise arising out of any failure or inability by bank/Mutual Funds/AMCs to process any transaction/payment instructions for whatsoever reason. The Company shall not be responsible for any of the aforesaid risks.
(e) Limits: The Company may from time to time impose maximum and minimum limits on funds that may be transferred by virtue of the payment transfer service given. The Registered User realize and accept and agree that the same is to reduce the risks. They shall be bound by such limits imposed and shall strictly comply with them.
(f) Indemnity: Registered User shall indemnify the Company from and against all losses and damages that may be caused as a consequence of breach by them of any of the terms specified by the electronic payment gateway service provider and the terms and conditions mentioned herein above.
(g) Authentication of the Transaction: Registered User are authorised to make transaction(s) only with and from the bank account(s) registered on the Platform. Banks have all the right to cancel, reject and/or unauthorise the transaction made by the Registered User, from any other account, details of which are neither registered nor provided to the Company. Such payment which is rejected by the banks shall be notified or intimated to the Registered User, in the morning of the next business day.
16.19 Transaction Verification:
The transactions made by the Registered User, whether approved or rejected, using the Platform shall be subject to the following level of verifications:
16.19.1 Cleartax: The transaction will be rejected in case the bank account through which the payment is made, is not registered with the Company or the payment gateway; and
16.19.2 AMC: Final rejection could be made by the AMC, upon receiving the transaction details.
16.20 Binding nature of above terms and conditions: By use of the Platform and clicking on ‘Continue/I Agree’ on the Platform, the Registered User expressly agree to all the above terms and conditions and such terms and conditions shall bind them in the same manner as if they have agreed to the same in writing.
16.21 Functions of the Company
Registered User understand and unconditionally agree that any information contained in the Company’s brochures or other materials or otherwise communicated by it shall not be construed as investment advice and that all decisions to purchase or sell Units made by the Registered User shall be on the basis of personal judgment arrived at after due consideration. The Company does not in any manner:
16.21.1 Guarantee payments on any units; or
16.21.2 Guarantee liquidity of any units; or
16.21.3 Make any offer to buy back any units; or
16.21.4 Guarantee the redemption or repayment of any units on maturity; or
16.21.5 Guarantee the payments of interest or dividend; or
16.21.6 Promise or guarantee any returns; or
16.21.7 Guarantee any good delivery.
16.21.8 Subscribe to Units of Mutual Funds on behalf or in name of the Registered User or collect payments from them for the units so purchased for remitting it further to the AMCs; or
16.21.9 receive any account statement from Mutual Funds/AMCs, on behalf of or in the User’s name pertaining to the units; or
16.21.10 redeem /sell the units held by the User or on its behalf or in its name; or
16.21.11 unilaterally instruct the Mutual Fund and/or the corresponding AMCs with regards to nomination/changes in investments plan/any other changes; or
16.21.12 sign any document on behalf of or in the name of the User for purchase, sale or redemption of units; or
16.21.13 collect, receive and / or give receipts and discharges for any sum including dividend, interest or income arising from the units and does not sign and/or endorse dividend and interest warrants on my/our behalf or in my/our name; or
16.21.14 correspond with or gives notice to the Mutual Fund/AMCs on behalf of or in the name of the User, except for transmission of transactions done or purported to be done by the User on the online technology Platform.
16.22 The Company does not make any promises to the Registered User basis the graphical representation provided on the Platform. The data collected from the Registered User to calculate the prospective investments amount and is in relation to the past investment history of the Registered User and shall not be construed as an authoritative advice to them. The Company does not offer any advice and nothing herein or on the Platform shall be construed as investment advice by the Registered User.
16.23 Any sum invested through the Cleartax account is not a deposit with the Company and is not bank insured. The same is not endorsed or guaranteed and does not result in any obligations of the Company or any of the group companies.
16.24 Investments in Mutual Funds are subject to investment risk, including the possible loss of principal amount invested. The value of the units purchased or not purchased will fluctuate. If the User redeems the units/shares purchased, the Registered User may receive more or less than they have/had paid depending upon NAV of the units in the fund or trust at the time of redemption. Past results are not a guarantee to future performance. Past performance may or may not be sustained in the future.
16.25 Notices/Correspondence: Any notice or other correspondence addressed by the Company to the Registered User may/shall be addressed to the address provided by the Users at the time of enrollment. If according to the Registered User, there is any discrepancy in the details of transaction or account of statement then, it shall be the responsibility of the User to intimate the same to the Company and to the concerned Mutual Fund/AMC/Authorised Registrar of the AMC in writing within 7 (seven) working days of receiving notice thereof, failing which such transaction, statement or account (as the case may be) shall be deemed to be correct and accepted by user and users shall not be entitled to question the correctness or accuracy thereof.
16.26 Termination of Cleartax Services: The Company may terminate the Services provided at any time in case of breach of the Terms (including these terms) provided that the Registered User shall not be relieved of obligations hereunder notwithstanding such termination incurred prior to the date on which such termination shall become effective.
16.27 Regulatory Caution: Mutual Fund investments are subject to market risks, read all scheme-related documents carefully.
16.28 Disputes: In the event of dispute between the Registered User and the Company on accuracy of transaction details provided by the former on the Platform, the transaction logs maintained by the Company will be the only source of data to verify the accuracy of such transactions.
16.29 Commission: The Company earns commission from AMCs when the Registered User buys regular Mutual Funds. However, the recommendations on funds (if provided by Right Horizons) are not influenced by the commission that the Company earns. Furthermore, the Company and/or its Strategic Partners (including Rights Horizon) do not receive or earn any commission when the Registered User buys direct Mutual Funds. Here is a list of AMCs along with the commission structures that the Company works with -
List of AMCs for Regular Mutual Funds
The Company may earn a commission between 0.1% to 2% from various AMCs listed above, across different mutual fund schemes distributed. The rates above may be updated by the AMCs from time to time across all schemes.
17 Additional Terms for Investment Advisory Services:
The terms set out in this clause apply in addition to the Terms contained in Clauses 1 to 15, if the User opts for investment advisory services
17.1 The Registered User acknowledge and agree that all ‘Investment Advisory’ services are provided through Right Horizons which is registered as an investment advisor with SEBI, bearing registration number INA200002601.
17.2 We further clarify that we are not an investment advisor registered with SEBI and only provide a Platform to facilitate you to obtain such advisory services through Right Horizon. You are required to review and agree to the terms of usage of Right Horizons while availing their services.
17.3 The Company is only acting as a technology facilitator for the investment advisory services wherein the role of the Company is limited to the extent of providing the Platform to the Registered User. Any transaction in respect of investment advisory services is strictly a bilateral transaction between Right Horizons and them.
17.4 Any information in relation to the investment advisory services is received from Right Horizons and is displayed on an “as is” basis on the Platform. The Company is not in any manner responsible for the accuracy, and completeness of such information. The provision of the investment advisory services through the Platform and display of such information received from the Right Horizons shall not in any manner constitute any recommendation, advice or opinion being given by the Company.
17.5 Right Horizons is solely responsible for providing the investment advisory services to the Registered User and for compliance with applicable law including SEBI (Investment Advisers) Regulations, 2013 (including amendments) and the Company shall not be in any manner held responsible and liable for the quality of service (including deficiency) rendered by Right Horizons to them.
17.6 The terms of the Investment Advisory Services Agreement between Right Horizons and the Registered User shall additionally apply for availing investment advisory services.
17.7 You acknowledge, agree and authorise, the Company and Right Horizons to collect, store, process your information and further transferring and sharing information (including personal information) with third parties including, payment gateways, banks, KYC Registration, and other entities for the purpose of the Services.
17.8 The Company is constantly innovating in order to provide the best possible experience for its users. You acknowledge and agree that the form and nature of the Platform and Services which it provides may change from time to time without prior notice to you.
17.9 As part of this continuing innovation, you acknowledge and agree that the Company may stop (permanently or temporarily) providing the Platform or Services (or any features within the Services) to you or to users generally at the Company's sole discretion, without prior notice to you. You may stop using the Services at any time. You do not need to specifically inform the Company when you stop using the Services.
17.10 You acknowledge and agree that if the Company disables access to your account, you may be prevented from accessing the Services, your account details or any files or other content which is contained in your account.
17.11 You hereby agree and acknowledge that if you opt for services from Right Horizons, you acknowledge that any information directly received from Right Horizons only will constitute ‘investment advice’. However, you acknowledge that any investment advice received from Right Horizons will not be binding on you. In no event shall the Company be liable to you for any loss or damage that may cause or arise from or in relation to these Terms and/or due to use of this Platform or due to investments made using this Platform. For ascertaining your risk appetite, Right Horizons may request you to provide such information as may be necessary for the purpose of giving investment advice, including without limitation the following: age, investment objectives and the purposes of the investment, income details, existing investments, assets, risk appetite, tolerance, and liability or borrowing details.