Last updated on November 14, 2023
This End User Agreement (the “Agreement”) is made between you (the “User” or “You”) and NANOSECOND TECHNOLOGIES PRIVATE LIMITED (hereinafter referred to as “Pice”), a private limited company having its registered office at Opposite to NIFT College, 27th Main Road, 3rd Floor, #2726, Pice Office, 16th Cross Road, Sector 1 HSR Layout, Bengaluru Urban, Karnataka, 560102. (“Pice”, “Us” or “We”, which term shall include its successors and permitted assigns). The User and Pice shall be collectively referred to as the “Parties” and individually as a “Party”.
You hereby consent to Pice being appointed as your authorized representative to receive your Credit Information from Experian for the purpose of providing digital payments and lending services through “Pice (“End Use Purpose”) on ongoing basis for a period not exceeding a period of six (6) months.
BY EXECUTING THIS AGREEMENT / CONSENT FORM, YOU ARE EXPRESSLY AGREEING TO ACCESS THE EXPERIAN CREDIT INFORMATION REPORT AND CREDIT SCORE, AGGREGATE SCORES, INFERENCES, REFERENCES AND DETAILS (AS DEFINED BELOW)(TOGETHER REFERRED TO AS “CREDIT INFORMATION”). YOU HERE BY ALSO CONSENT TO SUCH CREDIT INFORMATION BEING PROVIDED BY EXPERIAN TO YOU AND THE CLIENT BY USING EXPERIAN TOOLS, ALGORITHMS AND DEVICES AND YOU HERE BY AGREE, ACKNOWLEDGE AND ACCEPT THE TERMS AND CONDITIONS SET FORTH HEREIN.
Information Collection, Use, Confidentiality, No-Disclosure and Data Purging
CLIENT shall access your Credit Information as your authorized representative and CLIENT shall use the Credit Information for limited End Use Purposes consisting of and in relation to the services proposed to be availed by you from CLIENT. We shall not aggregate, retain, store, copy, reproduce, republish, upload, post, transmit, sell or rent the Credit Information to any other person and the same cannot be copied or reproduced other than as agreed herein and in furtherance to CICRA.
The Parties agree to protect and keep confidential the Credit Information both online and offline.
The Credit Information shared by you or received by us on your behalf shall be destroyed, purged, and erased promptly upon the completion of the transaction/ End Use Purpose for which the Credit Information report was procured for up to a maximum of 6 months.
Governing Law and Jurisdiction
The relationship between you and the CLIENT shall be governed by the laws of India and all claims or disputes arising there from shall be subject to the exclusive jurisdiction of the courts of Mumbai.
Capitalized terms used herein but not defined above shall have the following meanings:
“Business Day” means a day (other than a public holiday) on which banks are open for general business in Mumbai.
“Credit Information Report” means the credit information/scores/aggregates/variables/inferences or reports which shall be generated by Experian.
“Credit Score” means the score which shall be mentioned on the Credit Information Report which shall be computed by Experian.
“CICRA” shall mean the Credit Information Companies (Regulation) Act, 2005 read with the Credit Information Companies Rules, 2006 and the Credit Information Companies Regulations, 2006, and shall include any other rules and regulations prescribed thereunder.
In connection with submission of the application for my credit information (“Consumer Credit Information”) offered by CRIF High Mark Credit Information Services Pvt. Ltd ("CIC") through Neokred Technologies Private Limited (referred to as the "Company") and delivery of the Consumer Credit Information to the Company, I hereby acknowledge and agree to the following:
|Credit Card Usage, Cash Back and Rewards
By utilizing Pice’s services, users acknowledge that the use of their credit cards for business-related payments is at their sole discretion. It is noted that certain financial institutions may restrict or disallow the use of personal credit cards for business transactions, and any such limitations imposed by the user’s bank are beyond the purview and responsibility of Pice. Users are expressly responsible for abiding by their respective bank’s Most Important Terms and Conditions (MITC) concerning their credit cards. We strongly advise users to review their bank’s Most Important Terms and Conditions (MITC) and restrictions outlined in the same to Cardholders before utilizing their cards for payments through Pice. It is crucial to note that Pice processes transactions using four distinct merchant category codes: Vendor, Rent, Utility, and Tax, contingent upon the specific nature of the transaction initiated by the merchant. While numerous banks do not offer reward points or cash back for business-related payments made via retail or select corporate credit cards, users are urged to consult their credit card’s reward policy for validation of this information. Pice cannot be held liable for any discrepancies or lack of benefits as stipulated by credit card reward policies.
|Intellectual Property Rights
All information, data, text, logos, photos, videos, clips, posts, comments, software, graphics, interactive features, or the like generated or provided through the Services or on the Platform may be protected by the intellectual property rights of persons other than the User. Such content may not be modified, rented, leased, loaned, sold, distributed, or dealt with in any other manner by the User. The Company reserves the right to moderate and take all actions deemed necessary by it in relation to such content. The User agrees that in using the Platforms / Services, the User may be exposed to content that it finds objectionable or offensive and to this extent, the User agrees to use the Services at its own risk and peril. The Company bears no responsibility whatsoever for any content created, transmitted or displaced by the User in using the Services / Platforms. The User understands and acknowledges that the Company or its licensors own(s) all rights, title and interests in and to the Platforms and Services; and that at no time shall the User use or authorise the use of any of the Company’s trade names, marks, logos, domain names and / or other distinctive brand features. No confidential information contained in the Services may be disclosed by the User at any time, without the Company’s prior consent.
|Compliance with applicable laws
The User undertakes and shall be compliant at all times with all applicable anti-bribery and anti-corruption laws (worldwide). The User in addition agrees and undertakes that it is compliant with and shall continue to be compliant with the provisions of all KYC, anti-money laundering, and other guidelines and laws issued by the RBI and other authorities from time to time. The User shall also be compliant at all times with the mandates of the OFAC (i.e., the Office of Foreign Assets Control, USA).
|Representations, Warranties and Indemnities
The user will not hold Company or its third party service provider liable / institute complaint under the Telecom Commercial Communications Customer Preference (TRAI) Regulations, 2010 or such other applicable regulations including any amendment thereof, as may be applicable from time to time. It will be auto renewed every month and can be unsubscribed by contacting Grievance-cum-Nodal Officer.
The Company shall at no time be liable (whether by itself or through its founders / promoters, directors, employees, officials, agents, affiliates or representatives) for any direct, indirect, incidental, special, consequential, punitive or exemplary damages which may be incurred by the User (including any loss of profit, any loss of goodwill / business reputation, loss of data suffered, cost of procurement of substitute goods or Services, or other intangible loss).
The User may have access to certain confidential and proprietary information belonging to the Company and / or other persons, and the User hereby agrees to keep all such information in strict confidence and shall not disseminate or use such information in any manner other than as expressly permitted by the Company. The User shall be responsible to ensure privacy, security and anonymity of all customer data in the User’s systems during the usage of the Services. It is clarified that the following shall form exceptions to the confidentiality provision hereunder: (i) information which is, or becomes available to the public through no fault of the User, (ii) information disclosed pursuant to applicable law, any governmental, judicial, quasi-judicial, administrative authority, provided that the Company shall be intimated prior to such disclosure having been made.
The Company collates information about the Users’ use of the Services (including details of the third parties / financial institutions with whom the Users transact); and may use the same for statistical appraisals / analyses or other reasons of like nature, while endeavouring to ensure that there shall be no revelation of any personal data belonging to the Users.
|Fees and Funds Settlement
|Suspension of account
The User explicitly agrees that it shall not at any time deal in any manner (while using the Platforms or Services or otherwise) with the following: (i) adult goods and services, including pornographic materials (through any medium), prostitution, website access or memberships to pornographic or such other sites or applications, (ii) alcohol, tobacco or any related products, (iii) body parts / organs, (iv) spam tools / bulk marketing tools, (v) devices intended to obtain cable and satellite signals for free, (vi) any child pornographic materials or materials involving minors, (vii) copyright unlocking devices, (viii) unauthorized use of intellectual property of any person, (ix) counterfeit or fake goods without authorisation of production, use or distribution, (x) drugs and pharmaceuticals (including illicit drugs) / drug test circumvention, (xi) endangered species (plants, animals or otherwise), (xii) gambling, betting, games of chance, lottery tickets, sports bets, gambling sites, poker (whether online, offline or otherwise), etc., (xiii) counterfeit documentation such as government ids, etc., (xiv) hacking materials, (xv) any type of illegal goods or goods or services enabling illegal acts, (xvi) miracle cures, (xvii) libelous, defamatory, slanderous, insulting, derogatory, etc. content, including content which could be seditious, or cause disharmony or promote or incite intolerance, hatred or violence, (xviii) offensive goods including firearms, explosives, arms, armaments, etc., (xix) regulated goods including batteries, industrial chemicals, pesticides, etc., (xx) financial products, (xxi) currencies, (xxii) animal trading, (xxiii) any illegal, unlawful or immoral business, (xxiv) any business that may jeopardise the use of the Platforms or Services and that could result in losses to any person, (xxv) ambiguous / vague businesses, (xxvi) cryptocurrency, NFTs, or any virtual currency or tokens or other instruments of like nature, (xxvii) money laundering activities, etc. This list is subject to being modified by the Company from time to time without any prior notice to / consent of the User.
The user shall not use the platform to liquidate their credit cards by transferring to friends or family and circumvent the bank to withdraw cash.
The User shall not use the accounts on the Platforms for any of the abovementioned activities. Users are also strictly prohibited from unauthorized use of the Company’s systems or Platforms.
The User may dispute a transaction anytime until 7 days from the date of transaction. Disputes resolved in favour of a buyer may result in reversal of payment i.e., a chargeback. In case of any disputes relating to the flow of funds, we will notify / intimate the User.
Please raise a ticket with our Grievance Officer in case you face any technical difficulties or issues.
The Company shall not be liable in any manner if the performance of any of its services or actions are delayed as a result of a force majeure event which means and includes any event that is not in the Company’s control, including but not limited to war, acts of god, directions under law or judicial authorities or the like, hostilities, armed conflict, act of foreign enemies, riots, insurrections, labour stoppages, outages and downtimes, fires, typhoons, cyclones, pandemics, etc.
The provision of Services by the Company are dependent on the actions of certain third parties, including third party service providers and the User agrees and acknowledges that there may be a delay / breakdown in the provision of the Company’s Services due to any issues / breakdowns at source level.
|Governing Law, Jurisdiction
The company provides payment services to users which allows them to make business transactions using multiple modes of payments like net-banking, debit & credit cards. This also includes adding of their vendors bank account details, verifying the same and storing the details in their account for future payments.