Terms and Conditions

USER AGREEMENT

Date Last Revised: 22nd April, 2020

Perfios Account Aggregation Services Private Limited is a private limited company duly incorporated under the provisions of the Companies Act, 2013 (hereinafter referred to as ‘Company’ or ‘Perfios-AA’), having its registered office at “30, Prathiba Complex”, 4th B Cross, 5th Block, Industrial Layout, Koramangala, Bangalore 560095, India. Perfios-AA specializes in providing account aggregation services through its official website – https://perfios-aa.in (hereinafter referred to as ‘Website’) and its mobile application Perfios-AA or web application – app.perfios-aa.in (hereinafter referred to as ‘App’). The usage and access to the Website, App, and other communications that you are offered hereunder constitute ‘Service/s’. This User Agreement governs the use of the Services (‘User Agreement’ or ‘this Agreement’) and shall apply to any access or use of the Services by a visitor or registered user (hereinafter referred to as the ‘End User’ or ‘You’).

1. ACCEPTANCE OF USER AGREEMENT

PLEASE READ THIS USER AGREEMENT CAREFULLY. BY ACCESSING THE SERVICES, YOU AGREE TO BE LEGALLY BOUND BY THE TERMS DESCRIBED HEREIN AND ALL TERMS INCORPORATED BY REFERENCE. THE COMPANY RESERVES THE RIGHT TO ALTER, AMEND AND MODIFY THIS AGREEMENT AT ITS SOLE DISCRETION, ALL SUCH AMENDMENTS AND MODIFICATIONS WILL BE DULY NOTIFIED ON THIS WEBSITE. YOUR CONTINUED USE AND ACCESS OF OUR SERVICES AFTER WE PUBLISH THE CHANGES TO THIS AGREEMENT MEANS THAT YOU HAVE CONSENTED TO THE UPDATED AGREEMENT FROM TIME TO TIME. IF YOU DO NOT ACCEPT THIS AGREEMENT WE REQUEST YOU NOT TO ACCESS OR USE THE SERVICES RENDERED PURSUANT TO IT. IF YOU WISH TO TERMINATE THIS AGREEMENT AT ANY TIME, YOU CAN DO SO BY CLOSING YOUR ACCOUNT AND NO LONGER ACCESSING OR USING OUR SERVICES.

2. SERVICE ELIGIBILITY

The Services are not for use by any person under the age of 18 years. The Company expressly informs you that this Agreement is meant only for individuals/entities who are permitted to enter into and be bound by a legal contract as per the prevalent laws. If you are not legally permitted to enter into a contract either due to your age or any other reason then, you are not permitted to utilize the Services or enter into this Agreement.

In the event that you are representing certain individual(s), company(ies), third parties or any entities, in any capacity, then, you expressly confirm that you have the valid authority and right to do so for and on behalf of them. By entering into this Agreement, you state that you have the right to bind such individual(s), company(ies), third parties or any entities to this Agreement.

If at any time we are of the reasonable opinion (in our sole discretion) or have any reason to believe that you are not eligible to use the Services or that you have made any misrepresentation(s), we reserve the right to forthwith terminate your membership and/or your right to avail of the Services.

3. REGISTRATION AND USE

When you register as a member, you authorize us to create and maintain an account in your name using your account registration information and other information that may be collected about you in accordance with our Privacy Policy as part of providing our Services. Any changes in your registration information must be duly updated by you.

You shall not sell, transfer, or assign your account to anyone else. You understand that you are responsible for maintaining the confidentiality of all information provided by the Company while registering yourself, which includes your login identification (ID), e-mail address and the passwords for the same. You are fully responsible for all activities that occur under your account, e-mail address or password and you shall ensure to exit from your account at the end of each use.

The Company will send all correspondences, notices and any other communication to the e-mail address furnished by you.

In the event of your becoming aware of any unauthorized access or misuse of your account/ information, you shall forthwith notify the Company at support@perfios-aa.com. The Company will not be liable for any loss or damage arising from your failure to comply with this Section.

4. CUSTOMER/USER CONSENT
Your explicit consent shall be the basis on which all data pertaining to you shall be stored, shared and accessed by the Company. For any retrieval of data from an FIP your consent shall be obtained by the Company in the form of a standardised consent artefact which shall contain the following details namely –

a. identity of the customer and optional contact information;
b. the nature of the financial information requested;
c. purpose of collecting such information;
d. the identity of the recipients of the information, if any;
e. URL or other address to which notification needs to be sent every time the consent artefact is used to access information
f. Consent creation date, expiry date, identity and signature/ digital signature of the Account Aggregator; and
g. any other attribute as may be prescribed by RBI.

5. REPRESENTATIONS AND WARRANTIES BY PERFIOS AA
The Company expressly represents and warrants to you the following –

a) It shall not part with any information that it may come to acquire from/ on behalf of you without your explicit consent for the same.
b) It shall not in any manner whatsoever request, access or store user authentication credentials of customers relating to accounts with various third-party financial information providers.
c) The Services provided hereunder are in full compliance with the applicable laws including and especially the RBI Directions/guidelines in relation to Account Aggregation as updated from time to time.
d) It shall not retrieve, shared or transfer any information belonging to you without your explicit consent as documented in the form of a valid consent artefact.

6. LEGAL USES

You understand that your right to access and use the Services offered is personal to you and is not transferable by you to any other person or entity.

You represent that the Services availed are for your use only. In the event you are representing individual(s), company(ies), third parties or any entities, you undertake and state that you are authorized to represent such individual(s), company(ies), third parties or any entities. You shall be solely responsible for the consequences arising out of such acts and Perfios shall not be held liable in any manner to any person or entity.

You expressly acknowledge that under no circumstance you or your representatives are permitted to sub-license the Services or the rights granted to you or commercially exploit or alienate the rights/Services granted by Perfios pursuant to this Agreement.

7. SERVICES OFFERED BY PERFIOS AA

The Company provides the Account Aggregator service as per the Master Direction – Non-Banking Finance Company – Account Aggregator (Reserve Bank) Directions, 2016.

8. SUPPORT/GRIEVANCE REDRESSAL

The Company will provide all necessary support to you with regard to the Services. All support shall be provided through e-mail . Please send an email to the Company detailing the issue to Mr. Kantharaju H Gouda at grievance@perfios-aa.com The grievance officer can also be reached on mobile at +919448206567. The Company shall ensure that all customer grievances/ complaints shall be addressed and resolved no later than one month from the date of receipt of such grievance/complaint.

9. COMMUNICATION

The Company may send you communications, notices or alerts from time to time. In the event that you have disabled the receipt of alerts or communication, the Company recommends you revise the same and activate the receipt of alerts to its proper destination for optimum use of the Services. Communications from the Company will strictly be related to the Services.

10. EXCEPTIONS TO THE PROVISION OF SERVICES BY THE COMPANY

Your access and use of the Services may be interrupted from time to time for any of the several reasons, including, without limitation, the malfunction of equipment, periodic updating, maintenance or repair of the Website/App or other actions that Perfios, in its sole discretion, elect to take. We utilize our best efforts to provide the Services without any interruptions or hindrance, however, we do not warrant that the functioning, operation, security or accessibility of the Services will be uninterrupted or error-free, that defects will be corrected, or the Services or the server that makes it available will be free of viruses or other harmful elements. Notwithstanding anything contained anywhere in this Agreement, you agree that the Company will not be held liable for any restriction, rejection or failure to provide Services due to the following:

11. INTELLECTUAL PROPERTY

You acknowledge that the Services and any software used in connection with the Services contain proprietary and confidential information of Perfios and/or its third-party licensors. You understand that any content or software, including its ‘look and feel’ (e.g., text, graphics, images, logos and button icons), photographs, editorial content, notices, software (including html-based computer programs), trademarks, service marks, and logos used/displayed and other material provide to you in relation to the Services is protected by national and international laws relating to copyrights, trademarks, service marks, patents or other proprietary rights. Except as expressly authorized by the Company in writing, you agree not to modify, rent, lease, loan, sell, distribute or create derivative works based on the Services offered in whole or part.

12. PROHIBITED ACTIVITIES
You agree NOT to do to the following:

(a) Upload, develop, post, e-mail, transmit or otherwise make available any content that is unlawful, harmful, or unauthorised to be uploaded/shared hereunder.
(b) Impersonate or misrepresenting any person or entity, including, but not limited to, individuals, officials, directors, employees, agents, authorized representatives, forum leaders, guides or hosts, or falsely state or otherwise misrepresent any information or accounts;
(c) Forge headers or otherwise manipulate identifiers in order to disguise the origin of any content or material transmitted or provided through the Website/App;
(d) Interfere with or disrupt the Services or servers or networks connected to the Services, or disobey any requirements, procedures, policies or regulations of networks connected to the Services;
(e) Intentionally violate any applicable local, state, national or international law in relation to your use or access of the Services;
(f) Use/develop any robot, spider, scraper, deep link or other similar automated data gathering or extraction tools, program, algorithm or methodology to access, acquire, copy or monitor the Services, either in whole or part;
(g) Use/attempt to use or develop any engine, software, tool, agent, or other device or mechanism (including without limitation browsers, spiders, robots, avatars or intelligent agents) to navigate or search the Website/App, other than the search engines and search agents available through the Service and other than generally available third-party web browsers (such as Microsoft Explorer);
(h) Attempt to decipher, decompile, disassemble, or reverse-engineer any of the software comprising in any manner making up a part of the Services.
(i) Override any security feature or bypass or circumvent any access controls or user limits of the Services.
(j) Imply or state that you are affiliated with or endorsed by Perfios without our express consent.
(k) Monitor the Services’ availability, performance or functionality for any competitive purpose;

13. DISCLAIMER

THE SERVICE AND ALL CONTENT ASSOCIATED WITH IT IS PROVIDED TO YOU ON AN “AS-IS” AND “AS AVAILABLE” BASIS. THE COMPANY MAKES NO IMPLIED REPRESENTATIONS OR WARRANTIES, AS TO THE CONTENT OR OPERATION OF THIS WEBSITE/APP OR THE SERVICE. THE COMPANY CONTROLS AND OPERATES THIS WEBSITE/APP FROM ITS REGISTERED OFFICE IN BENGALURU (BANGALORE), INDIA, AND MAKES NO REPRESENTATION THAT THESE SERVICES ARE APPROPRIATE OR AVAILABLE FOR USE IN LOCATIONS OUTSIDE OF THE INDIAN TERRITORY.

14. LIMITATION OF LIABILITY

THE COMPANY SHALL, IN NO EVENT, BE LIABLE TO YOU OR TO ANY THIRD PARTY, WHETHER IN CONTRACT, WARRANTY, TORT (INCLUDING NEGLIGENCE) OR OTHERWISE, FOR ANY INDIRECT, SPECIAL, INCIDENTAL, CONSEQUENTIAL, EXEMPLARY, LIQUIDATED OR PUNITIVE DAMAGES, INCLUDING BUT NOT LIMITED TO LOSS OF PROFIT, REVENUE OR BUSINESS, BUSINESS INTERRUPTION, LOSS OF PROGRAMS OR INFORMATION, OR LOSS OF SAVINGS, OR ANY OTHER DAMAGES OUT OF THE AVAILABILITY, USE, RELIANCE ON, OR INABILITY TO UTILIZE OR ACCESS THE SERVICES, EVEN IF THE COMPANY HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES.

IN NO EVENT SHALL THE LIABILITY OF PERFIOS AND ITS AFFILIATES EXCEED, IN THE AGGREGATE FOR ALL CLAIMS, AN AMOUNT THAT IS RS. 10,000.

15. TERMINATION OF SERVICES
Each Party may terminate this Agreement and close the account at any time for the following reasons mentioned below:

(a) The Company may terminate this Agreement and close your account if it comes to the knowledge of the Company that you have breached this Agreement;
(b) The Company shall terminate this Agreement, if it is so required to be by an express direction of law.
(c) In the event it comes to the attention of the Company, that you do not meet eligibility criteria stated under Section 2 (Service Eligibility), the Company will forthwith close your account and delete all information which relates to you without any obligation or liability towards you.

16. GOVERNING LAW AND JURISDICTION

This Agreement shall be treated as though it were executed and performed in Bengaluru, India and shall be governed by laws of India (without regard to conflict of law principles). All legal proceedings arising out of or in connection with this Agreement shall be subject to the exclusive jurisdiction of the courts in Bengaluru, India. All disputes that may arise shall be referred to an arbitral tribunal consisting of a sole arbitrator mutually appointed by the Parties and shall be resolved in accordance with the Indian Arbitration and Conciliation Act, 1996.The venue and seat of arbitration shall be Bengaluru. The language of the arbitration shall be English.

17. MISCELLANEOUS

(a) The language in this Agreement shall be interpreted as to its fair meaning and not strictly for or against either party.
(b) Should any part of this Agreement be held invalid or unenforceable, that portion shall be construed consistent with applicable law and the remaining portions shall remain in full force and effect without being impaired or invalidated in any manner.
(c) Failure of the Company to enforce any provision of this Agreement shall not be deemed a waiver of such provision nor of the right to enforce such provision.

18. Privacy Policy
We care about your data and we are committed to protecting its privacy.

Perfios Account Aggregator Service Private Limited is committed to respect your privacy and comply with privacy laws including, but not limited to, data protection laws as proposed in the Personal Data Protection Bill 2019 -PDP Bill 2019, RBI Master Circular – ‘Know Your Customer’ (KYC) Guidelines – RBI/2015-16/108, Master Direction – Non-Banking Finance Company – Account Aggregator(Reserve Bank) Directions, 2016.

Perfios AA has implemented the following fair information privacy principles that support individual rights and set guidelines for the protection of Sensitive Information:

1. Notice: Perfios AA shall provide notice regarding its privacy policies and procedures and include the purposes for which Sensitive Information is accessed, collected, used, retained, and disclosed. Notice may occur in a variety of formats including publication on Perfios AA’ internal and external websites and specified in internal and external contracts and agreements.
2. Choice and Consent: Where practical or required by law or contract, Perfios AA shall provide individuals with the opportunity to consent to or authorize Perfios AA’ access, collection, use, retention, and disclosure of Sensitive Information. Consent or authorization may be explicit or implicit depending upon the specific circumstances, and the PSSC shall advise the Business Units as to appropriate means of obtaining consent or authorization.
3. Limited Collection: Sensitive Information shall only be collected for the purposes identified in the notice.
4. Limited Use and Disclosure: Sensitive Information shall only be used and/or disclosed to third parties for the purposes identified in the notice.
5. Limited Retention: Sensitive Information may be retained only as long as necessary, including, but not limited to, as may be required by law or contract, to fulfill a valid business purpose.
6. Accuracy: Perfios AA shall maintain the accuracy and integrity of the Sensitive Information under its care.
7. Right to Inspect/Correction: Individuals may request access to their Sensitive Information and request amendment to that Sensitive Information if such information is believed to be inaccurate. Perfios AA shall review and respond to requests for access and amendment in a timely manner. The PSSC shall provide guidance to Business Units regarding individual rights to access and/or amend Sensitive Information upon request by the Business Unit.
8. Disposal: Perfios AA shall dispose and destroy Sensitive Information, at the end of the applicable retention period, in a manner that prevents the likelihood of restoration of the Sensitive Information or in a manner required by law or contract.
9. Training: Workforce members shall be provided training on this Privacy Policy.
10. Breach Notification: Actual or suspected breaches of Sensitive Information shall be immediately reported in accordance with the Privacy and Security Incident Reporting Policy.
11. Accountability: Violations of this Privacy Policy may result in discipline up to and including termination, in compliance with Human Resources policies.

In case you find any discrepancies or you have grievances related to the personal information you may reach out to Perfios AA Grievance officer at “grievance@perfios-aa.com”.

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