Terms and Conditions

This is an electronic record in accordance with the Information Technology Act, 2000 and it does not require any physical/digital signature. These Terms & Conditions are published in accordance with the provisions of Rule 3 of the Information Technology (Intermediaries guidelines) 2011.

These Terms &Conditions are binding on the Referral Partner registered on E-Revbay Private Limited’s Portal i.e. www.finqy.ai [including any amendments/modifications thereon (hereinafter referred as “Company’s Portal”)] having the Referral code (herein after called as “Partner” and it includes legal heirs, assignees, agents, authorized representatives of the Partner).

• These Terms and Condition (“T&C”) sets out the terms and conditions which will be applicable for generating any Financial Product & Service (Credit Card, Home Loan, Personal Loan, Personal Loan, Auto Loan, Business Loan, Loan Against Property, Motor Insurance, Health Insurance, Term Insurance, Insure Check, Insurance Samadhan, Fixed Deposit, Mutual Fund, Life Cum Investment or any other product as introduced by the company from time to time)’s Lead on/over/with Company’s Portal, which is operated and managed by E-Revbay Private Limited.
• By clicking “I Accept Terms & Conditions” tick-box in the lead form of Company’s Portal or by selling/availing Financial Product & Services of the Company whether online or offline, the Partner hereby agrees to be bound by these T&C.
• The Partner is requested/expected to visit the Company’s Portal and review the most updated version of this T&C. The Company reserves the right at any time, at our sole discretion, to change or otherwise modify the T&C without prior notice, and the same shall be deemed to be reviewed and accepted by the Partner.
• In this T&C the following expressions shall have the meaning hereinafter assigned to them:

1. Clients/Customer means and include any/all proposed people looking for financial services like loans, Insurances, mutual funds and any other financial products introduced by the Manufacturers and/or Government bodies as may be available on the execution date or any time later in future.
2. Financial Product(s)/Service shall mean Credit Card, Home Loan, Personal Loan, Personal Loan, Auto Loan, Business Loan, Loan Against Property, Motor Insurance, Health Insurance, Term Insurance, Insure Check, Insurance Samadhan, Fixed Deposit, Mutual Fund, Life Cum Investment and services in connection thereon.
3. Lead means a customer’s requisite to avail a Financial Product/Service as offered by the Company from time to time.
4. Manufacturer means A Bank, NBFC, Insurance Company, Broker, Principal.
5. Company’s Portal/Website means and includes www.finqy.ai (including any modification thereon), a platform that is used as a point of entry to the internet where information has been collected from different sources into a single user interface and presents users with the most relevant information for their context that will be useful to any/all users.
6. Claw back under these T&C means & includes a scenario under which money that’s already been paid out must be returned to the Payer.
7. T&C means these Terms and Conditions and any amendments and supplements thereto. 

• It is hereby acknowledged that Partner shall perform the services in the capacity of an independent Party and not as an employee, servant or agent of the Company. Nothing contained herein shall be construed to create a relationship of employer-employee and master-servant between Company and Partner, rather it sets out mere Terms and Conditions in relation to the Financial Product and Service’s Lead generated and submitted by the Partner on Company’s Portal. 
• The Partner shall perform actions in good faith.
• The Partner should follow process and best practices as prevailing in the market and shall not do anything against any law/rule/provisions under all/any act prevailing.
• It is obligatory on the part of Partner to submit MIS report on regular basis, as may be requested by the Company from time to time.
• The Partner shall not indulge themselves in lead leakage. In case of any Lead in leaked due to negligence of the Partner, the Partner shall be liable to compensate the amount of loss suffered/incurred as may be decided by the Company in addition to the penalty charges. 
• Any Claw back scenario which leads to a situation whereby the Company will have to refund back the whole amount of Commercials (Payout) to the Manufacturer, the company possesses an exclusive right to get the said Refund paid off through the Partner’s Commission in proportionate basis. For the sake of Brevity, in a Claw Back situation, the Company has a right to claim Refund of the respective Commission from the Partner. Any said refund can be recovered from the Partner either in the form of bank transfer by the partner or by any other means as may be decided by the Company. The Company reserves the rights to adjust such Claw backs from the future commission payable to the partner.
• The Partner is Bound by this T&C in addition to/with “Term of Use” and “Privacy Policy” on the Company’s Portal.
• The Partner agrees and acknowledges that they shall be responsible and liable in the event of any act or omission on part of the Partner or his/her/its personnel including but not limited to incorrect, inaccurate and misleading statements or information, misconduct, dishonest or wrongful act of any person engaged by the Partner for the performance of the Services hereunder.
• The Partner must attach/submit/upload his/her/its KYC documents to the Company like Adhar Card, PAN Card, Address Proof, GST Certificate and Passport size color photo in addition to Bank details.
• The Consideration for the Partner will be based on the MIS shared by the Manufacturer for the Business Generated and as per the Commission Slabs as may be decided by the Company and notified from time to time in Company’s Portal or otherwise in writing subject to all applicable taxes and duties if any. The said Commission is subject to Change/modification/Revision, however the same shall be prior notified to the Partner. 
• The Company will share pre decided Commissions only in case of Final Disbursement/ Login/ Policy Issuance. Any other method is not viable under current scenario and can be discussed and amended as and when it arises. The compensation shall be paid in terms of the mutual agreement between the Parties. The mode of payment shall be only through Bank wire transfer.
• Since the Company is Paying the Commercials to the Partner prior to receiving Commercials from the Manufacturer, the Company possesses a right to claim Claw Back, if any in accordance with Clause 3 sub clause (i) of these T&C. The Partner hereby agrees and acknowledges the same. 
• The Partner is obligated under T&C to generate an Invoice for claiming the Commission. The Partner must comply with all the Compliance of various rules and regulations of the appropriate government authorities of the Country like GST, Income Tax, Companies Act. 
• If in any scenario, Any Advance Commission given to the Partner, the same shall be confirmed in writing and duly signed & stamped. The said Advance Commission shall be adjusted as against the future Commission/s to be paid by the Company for the Business proposed to be done by the Partner. The Company possesses right to claim the refund of the said Advance Commission if any, at any point of time and the Partner is bound to refund the same. If for any reasons, the parties are unable to confirm the Advance Commission in writing, this clause shall serve the purpose and any claim under this clause shall also survive termination of these T&C. The Partner hereby agrees and acknowledges to bound himself/herself/itself under these T&C to comply with provisions of this clause.
• The Parties acknowledge that in the course of performing their obligations under these T&C, each of the Parties may get access to confidential information (“Confidential Information”) of the other Party. Each of the Parties (“Receiving Party”) agrees not to disclose Confidential Information received (whether in writing, verbally or by any other means and whether directly or indirectly) by the other Party (“Disclosing Party”) including in relation to matters contemplated by these T&C or its performance or in any agreement in furtherance of the performance of these T&C, to any Third Party without the prior written consent of the Disclosing Party or use the Confidential Information other than for carrying out the purposes of these T&C.

The Receiving Party shall keep confidential any Confidential Information it receives from the Disclosing Party and shall employ all such reasonable steps that it would have taken to protect its own Confidential Information. The Receiving Party shall disclose Confidential Information received from the Disclosing Party to its officers, employees, agents or representatives only for the purposes of carrying out its obligations under these T&C and strictly on a “need to know” basis only. The Parties shall also cause their respective directors, employees, officers and any other Persons to whom the above mentioned information is disclosed to be bound by confidentiality obligations similar to those provided in this Clause.

Notwithstanding anything contained in this Clause, a Receiving Party’s obligation of confidentiality shall not extend to any Confidential Information:

1. to the extent that the Confidential Information received is in the public domain other than by breach of these T&C;
2. to the extent that the Confidential Information is lawfully acquired by the Receiving Party from a Third Party who owes the Disclosing Party no obligation of confidence in respect of such Confidential Information;
3. to the extent that the Confidential Information was previously known or already in the lawful possession of the Receiving Party prior to receipt from the Disclosing Party;
4. to the extent that the Confidential Information received is required to be disclosed by any applicable Law or by any Authority to whose jurisdiction the Receiving Party is subject or with whose instructions it is customary to comply under notice to the Disclosing Party; or
5. in so far as it is disclosed to the employees, directors or professional advisers of the Receiving Party, provided that the Receiving Party shall procure that such persons treat the Confidential Information received as confidential.

• The Partner represents and warrants to the Company that:

1. he/she/it is an entity/Individual duly and legally organized/compliant and validly existing under the laws of India;
2. these T&C constitutes its valid and legally binding obligations, enforceable;
3. he/she/it has Complete power and authority to perform all duties and obligations arising or created under or pursuant to these T&C and all requisite corporate approvals, Resolution, as applicable, have been obtained; and
4. the execution of these T&C and delivery and performance by it of its obligations hereunder do not and shall not violate or conflict in any manner with or result in a breach or default under Applicable Law or any of its duties or obligations under any agreement, understanding or arrangement, written or oral, to which it is a party.
5. they the Partner has/have the authority, skill, experience and resources to render the Service/s hereunder and shall so render the Service/s in an ethical and bona fide manner and in compliance with all Laws and regulations.

• For the purpose of these T&C" Intellectual Property Rights" shall mean all rights in intellectual property, including without limitation patents, patent applications, trade and service marks, trade names, rights in designs, copyright, topography rights, database rights, trade secrets, methodologies and techniques.

All rights, title, and interest, including Copyright, Trade Mark and Patent rights, to any deliverables, ideas, know-how, inventions, software, documentation, processes or any other Intellectual Property Rights shared by Company under these T&C shall be exclusive property of Company. Enabling any business transaction by using these Intellectual Property Rights by Partner shall not entitle any rights to the Partner and permit them to use these Intellectual Property of the Company and shall not to be construed as assignment or transfer of these rights to Company.

The Partner hereby undertakes not to decipher or disclose the details of the application, method and processes for the services rendered under these T&C in any manner to third parties or disclose any confidential information provided to the Partner.

The Company does not grant to Partner any right, title or interest in any of its intellectual property except as expressly authorized in writing by the Company and Partner shall not have any right, title or interest in Company’s intellectual property other than the right to use it for purposes of these T&C till the termination thereon. Partner shall comply with any and all instructions issued by Company in relation to the display of any logo, trademark, copyright or any other intellectual property of the Company. Upon expiry or earlier termination of these T&C, Partner shall immediately cease and desist for all times from any use of or reference to Company’s intellectual property and shall return to Company copies or materials containing such intellectual property.

The Partner hereby acknowledge and confirm that:

1. All Intellectual Property Rights in or relating to the Services are and shall at all times remain the property of Company and / or its licensors; and
2. The Partner shall notify Company immediately if Partner becomes aware of any illegal or unauthorized use of any the intellectual property therein or relating thereto and will assist Company in taking all steps necessary to protect and defend Company’s rights therein.
3. The provisions of this Clause shall survive the termination of these T&C.

• In case of any manipulation/ fraud/ bribe/ deception/ misappropriation on account of any Associate/ employee/ Partner/ Representative under/of the Partner then the Partner jointly along with the said Associate/ employee/ Partner/ Representative shall be liable for damages which shall not be less than the market value of the company valuation as may be decided by the company's valuation exercise done by an Independent registered valuer, in addition to legal proceedings charges.

In case of breach of terms and conditions of these T&C and/or negligence in performance duties assigned to the Partner, these T&C shall be deemed to be terminated which in turn attracting damages as may be decided by the Company and also Company retains its power to initiate legal action against the Partner. 

The Partner shall not indulge in to any illegal activity or in no manner shall approach employee, partners, associates of the Company for any malpractice or shall not offer any bribe to them. The partner shall not directly or indirectly indulge in to any activity that affect the Brand image of the Company. On becoming aware of such an act done by the Partner, the Company has a right under these T&C to initiate legal proceedings against the partner and also claim damages from the Partner. The Company possesses the said right against the Partner under this clause till perpetuity against the universe without any limitation to geographical boundaries. 

The Partner hereby acknowledges to indemnify the Company and hold harmless from and against all actions, suits, claims, proceedings, damages, liabilities, expenses or costs in the event of Company incurring or sustaining any loss or damage or prejudiced by any unauthorized or careless act, deed, or things done, committed or omitted by any party, his/her/its employees / advisors / other staff.

If a dispute arises out of or in connection with these T&C or the performance, validity or enforceability of it (“Dispute”) then the parties shall follow the procedure set out in this Clause:

1. Either party shall give to the other written notice of the Dispute, setting out its nature and full particulars (“Dispute Notice”), together with relevant supporting documents. On service of the Dispute Notice, the parties shall attempt in good faith to resolve the Dispute.
2. If the parties are for any reason unable to resolve the Dispute within 30 days of service of the Dispute Notice, either party may refer the Dispute to final resolution by arbitration by an Arbitrator in accordance with the Arbitration and Conciliation Act, 1996 wherein the parties will appoint a sole Arbitrator on mutual agreement. In no case the number of Arbitrator shall be an even number. Further, the Arbitrator so appointed must possess the relevant skills and qualification and shall possess relevant experience in the respective field. The place for any arbitration shall be Mumbai and the language shall be English. In the event where the parties fail to agree and appoint the Arbitrator within Sixty (60) days from the receipt of a Dispute Notice by one party from the other party, the appointment shall be made, upon request of a party, by the Chief Justice of the High Court or any person or institution designated by him, in accordance to Section 11(6) of the Arbitration and Conciliation Act, 1996.  

• These T&C constitutes the sole and exclusive statement of the terms and conditions hereof and supersede any prior discussions, writings and negotiations thereto. 
• The provisions of these T&C are severable and the validity of remaining Articles, provisions, terms and parts of these T&C shall not be affected by a court, administrative board or other proceeding of competent jurisdiction deciding that a Clause, provision, term or part of these T&C is illegal, unenforceable, void, in conflict with any law or contrary to public policy. In such event the Company shall, by amendment of these T&C, properly replace such provision by a reasonable new provision or provisions which, as far as legally possible, shall approximate to the closest possible extent what the Parties intended by such original provision and the purpose thereof.
• If any provision or part of these T&C is found by a Court of competent jurisdiction or other competent authority to be illegal  or unenforceable, it will be enforced to the maximum extent  permissible, and the remainder of these T&C will remain in full force and effect to the fullest extent permitted by law and the parties hereto agree to replace the illegal or unenforceable provisions with valid provisions which are as close as possible to the illegal or unenforceable provisions in their respective meaning, purpose, and commercial effect.
• The headings in these T&C are for reference purposes only and will not affect the meaning or construction of these T&C.
• The language of these T&C shall be English and all documents, notices, waivers and all other written communication or otherwise between the Parties in connection with these T&C shall be in English. 
• Each Party agrees that it has reviewed carefully these terms and conditions, has understood the terms and their interpretations and voluntarily agrees to accept each and every provision of these T&C.