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  1. Accepting Terms and Conditions
    1. 1.1 By downloading the GoodMoney app ('App') and clicking 'I Accept The Terms and Conditions' you acknowledge you have read, fully understood and accepted the Terms and Conditions ('T&Cs') contained herewithin.
    2. 1.2 If you do not agree with the T&Cs, do not use the App or exit the App if you have begun to use the App already. You will not be able to avail of any of GoodMoney's services if you do this.
    3. 1.3 By continuing to use the App, you agree to comply and be bound by the T&Cs, including any updates or changes to the T&Cs
  1. Interest and Fees
    1. 2.1 In consideration of GoodMoney granting you this loan ('Loan'), you shall pay GoodMoney a fee of 2% per month of the Loan amount specified in the summary loan terms in the App (the 'Loan Agreement'). The exact fee is subject to change and will be determined during the application process and communicated in the Loan Agreement.
    2. 2.2 The fee will be netted from the proceeds of the Loan disbursed to you. Such fees, as well as the net amount, will be shown to you in the Loan Agreement prior to accepting the Loan"
  2. Late Repayment
    1. 3.1 Failure to make payments on time, as specified during the application process, will lead to additional charges of 2% of the Loan amount being levied.
    2. 3.2 It may also result in action including, but not limited to, termination of the account, legal action, further loan refusals and/or the reporting of such failure to repay to credit reference bureaus and banks by GoodMoney or any affiliate.
  3. Default
    1. 4.1 An event of default (Event of Default) occurs when you fail to pay any sum payable for the Loan granted for a period of sixty (60) consecutive days unless failure to pay is caused solely by an administrative error or technical problem caused by GoodMoney.
    2. 4.2 At any time after an Event of Default has occurred which is continuing, GoodMoney may, without prejudice to any other right or remedy granted to it under any law: terminate any agreement with the borrower, declare that the Loan (and all accrued interest and all other amounts outstanding) is immediately due and payable, whereupon they shall become immediately due and payable; and supply information concerning the Event of Default to Credit Reference Bureaus. A copy of any adverse information concerning you sent to a Credit Reference Bureau shall be made available to you upon written request."
  4. Communication
    1. 5.1 GoodMoney may communicate with you via the App, SMS or telephone. You give GoodMoney permission to contact you with messages of a transactional nature, even if you are on the National Do Not Call ('NDNC') registry
    2. 5.2 You acknowledge that you have no claim against GoodMoney for damages resulting from losses, delays, misunderstandings, mutilations, duplications or any other irregularities due to transmission of any communication pertaining to your GoodMoney Account.
    3. 5.3 You cannot opt out of any communication related to the Loan, and by taking the Loan you irrevocably agree to receive communication including repayment reminders, overdue payment reminders and other communication related to your Loan".
  5. Providing of Loan
    1. 6.1 Subject to approval of your Loan, GoodMoney will disburse to you a loan of an amount as communicated in the Loan Agreement.
    2. 6.2 The proceeds of the loan will be credited into the bank account based on the bank account details provided by you in the App.
    3. 6.3 This disbursal will be provided to you by IMPS.
    4. 6.4 GoodMoney will not be held responsible for any disbursal failures or errors related to incorrect bank details provided by the applicant or resulting from a failure of any systems or services by a third party".
  1. Statements
    1. 7.1 You can access account statements via the GoodMoney app. These statements will contain your historical transactions including your existing Loan, previous loans, and any payments made on the current Loan or previous loans".
  2. Loan Repayment
    1. 8.1 You agree to repay the full loan amount by the date specified in the Loan Agreement.
    2. 8.2 This payment can only be made via debit card or net banking through the payment gateway provided within the App or other methods explicitly permitted by GoodMoney. Payments can be made at any time up to the loan repayment date.
    3. 8.3 You will be accountable for any failures preventing you from repaying the Loan on time. Failures to repay due to failures by third parties will not be taken into consideration."
  3. Grant and Scope of License
    1. 9.1 You will not modify, disassemble, reverse-engineer the App or use it in any way other than expressly intended by GoodMoney.
    2. 9.2 This payment can only be made via debit card or net banking through the payment gateway provided within the App or other methods explicitly permitted by GoodMoney. Payments can be made at any time up to the loan repayment date.
    3. 9.3 You will be accountable for any failures preventing you from repaying the Loan on time. Failures to repay due to failures by third parties will not be taken into consideration."
  4. IP Rights
    1. 10.1 All IP rights related to the App and services are the sole property of GoodMoney".
  1. Application Usage and Data
    1. 11.1 By using the App and services, you consent to GoodMoney (and its affiliates & licensees) using information including but not limited to hardware, software and other data from your device and applications.
    2. 11.2 You consent to GoodMoney (and its affiliates & licensees) to collect, store, transmit, maintain, process and use this data for various purposes including purposes related to giving you a loan and enhancing your experience
  2. Personal Information
    1. 12.1 You hereby give GoodMoney (and its affiliates & licensees) the right to request and receive personal data on you from third parties including UIDAI, CIBIL ITD, ECI, Facebook, Google, your Bank associated with the bank details you provide in this application, your mobile network operator associated with the telephone number used for this phone or provided in this application.
    2. 12.2 This data includes, but is not limited to, your name, date of birth, address, identification number, picture, telephone number, PAN Card number, Voter ID number, telephone number and bank details and includes all data that is required for GoodMoney to provide its services and comply with regulatory requirements.
  3. Credit Reference Bureau Communication
    1. 13.1 You hereby give GoodMoney permission to request and receive your personal information from credit reference bureaus including CIBIL, as well as communicate data related to your request for a loan to these same credit reference bureaus.
  4. Use of Services
    1. 14.1 You must be 18 or older to use these services.
    2. 14.2 An application for a Loan can only be made through the App.
    3. 14.3 GoodMoney reserves the sole right to approve or reject your application for a loan or usage of the App, without providing any reason or notice
  5. Suspending Business with Borrower
    1. 15.1 GoodMoney may at any time, upon notice to you, terminate its business relationship with you and close your account for any reason and having made reasonable effort to communicate such termination
  1. Fraud and Liability
    1. 16.1 You hereby irrevocably authorize GoodMoney to act on all requests received by GoodMoney from you (or purportedly from you) through the App and to hold you liable in respect thereof. GoodMoney may nevertheless refuse to carry out any requests in its sole and absolute discretion.
  2. Responsibilities of Borrowers
    1. 17.1 You will, at your own expense, ensure that you maintain the equipment and services necessary to access GoodMoney's systems and services, including a functioning handset and mobile connection with data.
    2. 17.2 GoodMoney will not be responsible for the improper performance of your equipment and/or services and any consequences arising from this improper performance.
    3. 17.3 It is your responsibility to prevent and detect unauthorized use of your device or services as they relate to the App and services. You will indemnify and hold GoodMoney harmless from any losses resulting from any losses arising from improper use or functioning of your equipment or services.
  3. Exclusion of Liability
    1. 18.1 GoodMoney shall not be responsible for any loss suffered by you should the services be interfered with or be unavailable by reason of the failure of any of your equipment, or any other circumstances whatsoever not within GoodMoney’s control including , without limitation, Force Majeure or error, interruption, delay or non-availability of the system, terrorist or any enemy action equipment failure, loss of power, adverse weather or atmospheric conditions, and failure of any public or private telecommunications system.
    2. 18.2 You acknowledge that the App has not been developed to meet your individual requirements, and that it is therefore your responsibility to ensure that the facilities and functions of the App as described meet your requirements.
    3. 18.3 We only supply the App for domestic and private use. You agree not to use the App for any commercial, business or resale purposes, and we have no liability to you for any loss of profit, loss of business, business interruption, or loss of business opportunity.
    4. 18.4 GoodMoney will not be liable for any losses or damage suffered by you as a result of or in connection with: if the defect or fault in the App or any service results from you having altered or modified the App; if the defect or fault in the App results from you having used the App in breach of the T&Cs; unavailability of sufficient funds in your bank account; failure, malfunction, interruption or unavailbility of the App, your equipment, the network or bank account; the money in your account being subject to legal process or other encumbrance restricting payments or transfers thereof; your failure to give proper or complete instructions for payments or transfers relating to your account; any fraudulent or illegal use of the services, the App and/or your equipment; or your failure to comply with these Terms and Conditions and any document or information provided by GoodMoney concerning the use of the App.
    5. 18.5 If for any other reason the App is interfered with or unavailable, GoodMoney’s sole liability under this Agreement in respect thereof shall be to re-establish the functionality of the App as soon as reasonably practicable.
    6. 18.6 GoodMoney shall not be liable to you for any interference with or unavailability of the App howsoever caused.
    7. 18.7 Under no circumstances shall GoodMoney be liable to you for any loss of profit or anticipated savings or for any indirect or consequential loss or damage of whatever kind, howsoever caused, arising out of or in connection with the Services even where the possibility of such loss or damage is notified to GoodMoney.
    8. 18.8 All warranties and obligations implied by law are hereby excluded to the fullest extent permitted by law.
  4. Indemnity
    1. 19.1 In consideration of GoodMoney complying with your instructions or requests in relation to your account, you undertake to indemnify GoodMoney and hold it harmless against any loss, charge, damage, expense, fee or claim which GoodMoney suffers or incurs or sustains thereby and you absolve GoodMoney from all liability for loss or damage which you may sustain from GoodMoney acting on your instructions or requests or in accordance with these Terms and Conditions.
    2. 19.2 This indemnity shall also cover the following:
      1. 19.2.1 All demands, claims, actions, losses and damages of whatever nature which may be brought against GoodMoney or which it may suffer or incur arising from its acting or not acting on any request or arising from the malfunction or failure or unavailability of any hardware, software, or equipment, the loss or destruction of any data, power failures, corruption of storage media, natural phenomena, riots, acts of vandalism, sabotage, terrorism, any other event beyond GoodMoney’s control, interruption or distortion of communication links or arising from reliance on any person or any incorrect, illegible, incomplete or inaccurate information or data contained in any Request received by GoodMoney.
      2. 19.2.2 Any loss or damage that may arise from your use, misuse, abuse or possession of any third party software, including without limitation, any operating system, browser software or any other software packages or programs.
      3. Any unauthorised access to your account or any breach of security or any destruction or accessing of your data or any destruction or theft of or damage to any of your Equipment.
      4. 19.2.3 Any loss or damage occasioned by the failure by you to adhere to these Terms and Conditions and/or by supplying of incorrect information or loss or damage occasioned by the failure or unavailability of third party facilities or systems or the inability of a third party to process a transaction or any loss which may be incurred by GoodMoney as a consequence of any breach by these Terms and Conditions.
      5. 19.2.4 Any damages and costs payable to GoodMoney in respect of any claims against GoodMoney for recompense for loss where the particular circumstance is within your control.