TERMS OF USE FOR LOAN ORIGINATION AND SUPPORT SERVICES
These terms of use (hereinafter the “Terms”) establish an agreement between KNAB finance Advisors Private Limited, a company incorporated under Companies Act, 2013 having its principal place of business at L-127, GR Towers, 4th Main, 14th Cross, HSR Layout, Sector 6, Bangalore– 560102 and website www.knabfinance.com (“KNAB”), which expression shall include where appropriate its affiliates, successors and assigns) and the Borrower (as defined hereafter).

By continuing to receive the Services, the Borrower agrees to be subject to these Terms.

1) Definitions

“Application Information” means the specific information with respect to the Borrower including information regarding its proprietor, partner, director or other key personnel that are required to be submitted by the Borrower in order to enable the Lender to process the application of the Borrower for Loan;

“Borrower” means an individual, firm, partnership, company, society or an entity organized in any other form that receives Services from KNAB;

“Eligibility Information” means the data sets that are submitted by a Borrower on the Website in order to ascertain at a preliminary level whether the Lenders will consider an application from the Borrower to avail Loan;

“End Use” means the specific purpose for which the Borrower seeks to avail the Loan;

“KNAB Systems” means the Website and other proprietary software programs, algorithms, processes and other methodologies utilized by KNAB for rendering the Services hereunder;

“Lender” means KNAB either by itself or together with other co-lender(s), as decided by KNAB.

“Loan” means one or more loans granted by the Lender to the Borrower.

“Services” means the facilities provided by KNAB to the Borrowers through KNAB Systems.

“User Generated Content” means any information that may be generated or encountered through Borrower’s Use of the Service, such as data files, device characteristics, written text, software, music, graphics, photographs, images, sounds, videos, messages and any other like materials.

“Website” means the website which is currently published at the web-link www.knabfinance.com;

2) Account Set-up

  1. In order to avail Services from KNAB, the Borrower is required to register for and maintain a service account (“Account”) in accordance with the instructions set out on the Website.
  2. Account registration requires the Borrower to submit complete, accurate and up-to-date information as expressly set out in the Website.

3) Services

  1. Eligibility
    1. Upon submitting basic Information and setting up of Account, the Borrower will be  intimated as to whether a Lender may be willing to consider an application from the Borrower for Loan for the prescribed End Use and if so then the limit and tenure of such Loan.
    2. The Borrower acknowledges that Eligibility Intimation is merely a determination by KNAB Systems that certain Lender(s) may be willing to consider an application by the Borrower for Loan. The Eligibility Intimation must not be deemed to be an assurance that any Lender will indeed, grant Loan to the Borrower or process an application for Loan submitted by the Borrower.
    3. Eligibility Intimation is meant to provide the Borrower a high-level understanding regarding its ability to apply for Loan and the primary terms that shall be applicable to such Loan.
  2. Loan Application
    1. Upon receiving Eligibility Intimation, the Borrower shall be able to apply for Loan.
    2. Should the Borrower want to complete the Loan Application he must submit Application Information to KNAB which will in turn be sent to the Lender(s).
    3. The Lender(s) may in addition to Application Information seek submission of further documents and information which the Borrower agrees to provide; failure to provide such additional documents and information shall render the Loan Application incomplete and invalid.
    4. While the Application Information shall be submitted by the Borrower through the Website, certain documents may be required to be submitted in physical form in accordance with applicable laws and regulations and internal policies of the concerned Lender(s). The Borrower agrees that the Application Materials shall be true, correct and accurate and will be handed over to KNAB or its vendors, as the case may be, with adequate protection and care. The Borrower further agrees that the Application Materials shall at all times comprise of copies of original documents/materials and shall under no circumstance carry any item which if lost or damaged cannot be replaced.
    5. Upon submission of the Loan Application, the Lender may require the Borrower to complete certain actions including submission of relevant documents, information or other materials prior to sanction of the Loan. The Borrower acknowledges that submission of the Loan Application in itself does not ensure sanction of the Loan by the Lender. The Lender at all times reserves its right to sanction or deny grant of the Loan to the Borrower which is determined by its internal credit approval policies and guidelines.
  3. Network Access and Device
    1. It is the Borrower’s responsibility for obtaining the data network access necessary to use the Services. The Borrower’s mobile network’s data usage rates and fees will apply for access or use of the Services from a wireless-enabled device.
    2. The Borrower is responsible for acquiring and updating compatible hardware or devices necessary to access and use the Services and KNAB Systems and any updates thereto. KNAB does not guarantee that the Services, or any portion thereof, will function on any particular hardware or devices. In addition, the Services may be subject to malfunctions and delays inherent in the use of the internet and electronic communications.

4) License

  1. Subject to Borrower’s compliance with these Terms, KNAB grants the Borrower a limited, non-exclusive, revocable, non-transferable license in India to: (i) access and use KNAB Systems through a computer system or other mobile communication device solely in connection with Borrower’s use of the Services; and (ii) access and use any content, information and related materials that may be made available through the Services. Any rights not expressly granted herein are reserved by KNAB and KNAB’s licensors.
  2. Restrictions: The Borrower shall not: (i) use the Services except as expressly provided in these Terms; (ii) provide any third parties with access to the Services; (iii) use the Services to post, send, transmit or otherwise make available any unsolicited or unauthorised email messages, advertising, promotional materials, junk mail, spam, or chain letters; (iv) remove any copyright, trademark or other proprietary notices from any portion of the Services; (v) reproduce, modify, prepare derivative works based upon, distribute, license, lease, sell, resell, transfer, publicly display, publicly perform, transmit, stream, broadcast or otherwise exploit the Services except as expressly permitted by KNAB; (vi) decompile, reverse engineer or disassemble the KNAB Systems or the Services; (vii) cause or launch any programs or scripts for the purpose of scraping, indexing, surveying, or otherwise data mining any portion of the KNAB Systems or the Services or unduly burdening or hindering the operation and/or functionality of any aspect of the Services or KNAB Systems or any other computer system including by introduction of any virus, trojan horses, worms, time bombs or such material; (viii) attempt to gain unauthorized access to or impair any aspect of the KNAB Systems or the Services or its related systems or networks; or (ix) resale, grant any rights to third parties to the Services, lease, time-share, lend or rent the Services (x) use KNAB Systems or the Services to host, display, upload, modify, publish, transmit, update or share any information that (A) belongs to any other Person and to which Borrower do not have any right to; (B) is grossly harmful, harassing, blasphemous defamatory, obscene, pornographic, pedophilic, libelous, invasive of another’s privacy, hateful, or racially, ethnically objectionable, disparaging, relating or encouraging money laundering or gambling, or otherwise unlawful in any manner whatever; (C) harms minors in any manner (D) infringes any patent, trademark, copyright or other proprietary rights; (E) violates any law which is in force (F) deceives or misleads the addressee about the origin of such messages or communicates any information which is grossly offensive or menacing in nature (G) impersonates another person (H) threatens the unity, integrity, defense, security or sovereignty of India, friendly relations with foreign states, or public order or causes incitement to the commission of any cognisable offence or prevents investigation of any offence or is insulting any other nation.
  3. KNAB shall have the on-going right to monitor Borrower’s use of the Services to understand and analyse Borrower’s usage of the Services, to further improve and modify the Services and the KNAB Systems and/or to determine Borrower’s compliance with these Terms.
  4. The Borrower understands that all User Generated Content, to the extent permitted by the KNAB Systems, is the sole responsibility of the person from whom such User Generated Content originated. The Borrower therefore is solely responsible for any User Generated Content that it uploads, downloads, posts, emails, transmits, stores or otherwise makes available through its use of the Service or the KNAB Systems. KNAB does not control the User Generated Content used in the Service, nor does it guarantee the accuracy, integrity or quality of such User Generated Content. The Borrower understands and acknowledges that any Use of the Service and any User Generated Content is solely at its own risk.
  5. The Borrower is responsible for backing up, in its own computer or other device, any important documents, images or other User Generated Content that it stores or accesses via the Services. While KNAB shall use reasonable skill and due care in providing the Services it does not guarantee or warrant that any User Generated Content the Borrower may store or access through the Services will not be subject to inadvertent damage, corruption or loss.

5) Limited Warranty

  1. The Borrower understands and acknowledges that certain risks are inherent in the transmission of information over the internet. By entering in to this agreement, the Borrower chooses to use and rely on the security measures provided by KNAB. While KNAB uses industry standard information security measures to protect the Service from viruses and malicious attacks, it does not represent or guarantee that the Services will be free from loss, corruption, attack, viruses, interference, hacking, or other security intrusion, and KNAB disclaims any liability relating thereto to the extent that such loss, corruption, attack, viruses, interference, hacking, or other security intrusion occur despite KNAB using the information security measures. KNAB warrants that, during the term of this agreement, it will employ commercially reasonable system security measures. Except as expressly set forth in this section, KNAB makes no representation, warranty, covenant or agreement that its security measures will be effective and neither KNAB nor its affiliates shall have any liability for the breach of its security measures, or the integrity of the systems or KNAB’s computer servers.
  2. The Services are provided on an “as-is” and “as available basis”. KNAB is not responsible for any failure of the telecommunications network or other communications links utilised to gain access to the Services. KNAB and its affiliates, subsidiaries, officers, directors, employees, agents, partners and licensors make no warranty that the Services will meet the Borrower’s requirements or that operation of the Services will be uninterrupted or error free.
  3. The Borrower acknowledges and agrees that the Service is not intended or suitable for use in situations or environments where the failure or time delays of, or errors or inaccuracies in, the content, data or information provided by the Service could lead to death, personal injury, or severe physical or environmental damage.

6) Confidential Information

In the course of the Borrower’s dealing with KNAB, either party may share and provide the other with access to its confidential and proprietary information (“Confidential Information”). Confidential Information may be disclosed either orally, visually, in writing (including graphic material) or by way of consigned items. The receiving party agrees to take all reasonable security precautions, including precautions at least as great as it takes to protect its own confidential information, to protect the secrecy of the Confidential Information. Confidential Information shall be disclosed only on a need-to-know basis provided that KNAB can disclose Confidential Information of the Borrower to the Lenders for rendering of Services and as otherwise permitted by these Terms and the Privacy Policy, as these are amended from time to time. Except as provided herein, the parties agrees to treat the same as confidential and shall not divulge, directly or indirectly, to any other person, firm, corporation, association or entity, for any purpose whatsoever, such information, and shall not make use of such information, without the prior written consent of the disclosing party. Confidential Information includes but is not limited to the Services, documentation, third party materials, business plans, business forecasts, financial information, borrower lists, development, design details, specifications, patents, copyrights, trade secrets, proprietary information, methodologies, techniques, sketches, drawings, models, inventions, know-how, processes, algorithms, software programs, software source documents and particularly KNAB Systems.

7) Term and Termination

  1. These Terms and the right to use granted hereunder shall take effect on the date Borrower create an Account with KNAB, and shall continue in effect until the later of
    1. Submission of the Loan Application and
    2. Expiry of any Services rendered by KNAB to the Borrower.
  2. KNAB may terminate the Agreement:
    1. Thirty (30) days after KNAB gives the Borrower notice of breach by it of any provision of the Agreement (other than Borrower’s breach of its obligations under Section 4(b) (Restrictions) or Section 6 (Confidential Information) which breach shall result in immediate termination) and which Borrower do not cure within the thirty (30) day notice period; or
    2. Immediately for not repaying any charges payable by the Borrower pursuant to these Terms;
    3. If the Borrower file for bankruptcy, become insolvent, or make an assignment for the benefit of creditors.
  3. All accrued rights and obligations of the parties shall survive any termination of these Terms and the Terms shall continue to be valid till such rights and obligations are extinguished or fulfilled.

8) Privacy

The Borrower understands that by using the Service, it consents and agrees to the collection and use of certain information about the Borrower in accordance with KNAB’s Privacy Policy and these Terms. KNAB’s Privacy Policy applies to all information collected under these Terms. The Borrower further understands and agrees that this information may be transferred to other countries for storage, processing and use by KNAB, its affiliates, and/or their service providers in in accordance with applicable law.

9) Indemnity

The Borrower shall defend, indemnify and hold harmless KNAB, it’s officers, directors, employees and agents, from and against any and all claims, damages, obligations, losses, liabilities, debts and costs (including reasonable attorneys’ fees), brought against KNAB by third parties resulting from or relating to (i) the Borrower’s use of and access of the Service; (ii) the Borrower’s violation of these Terms; (iii) Borrower’s violation of any third party right, including without limitation any copyright, property, or privacy right; or (iv) any claim that the User Generated Content that the Borrower submitted caused damage. The Borrower’s indemnification obligation under this Section 10 will survive termination of this Agreement and Borrower’s use of the Services.

10) No Liability on Part of KNAB

  1. KNAB shall have no responsibility or liability if
    1. The Services are not used in accordance with these Terms and any other additional terms and conditions that may apply to the Borrower’s use of the Services; or
    2. If any defect is caused by the Borrower’s computing environment, or by interfacing third-party software.
  2. In no event shall KNAB be liable, whether in contract, tort (including negligence) or otherwise for any loss of profits, business, contracts, or revenues, loss of operation time, increased costs or wasted expenditure, loss of goodwill or reputation, special, indirect, incidental punitive or consequential damage of any nature whatsoever or howsoever arising out of this agreement

11) Dispute Resolution and Governing Law

This agreement is made under Indian laws and a dispute between the Parties in its relation shall be subject to the jurisdiction of the courts in Bangalore. The Parties shall try and resolve all disputes through mutual negotiation in good faith. All disputes arising out of or in connection with this agreement and which remain unresolved by such good faith negotiation within thirty (30) days of either Party seeking such negotiations shall be shall be settled by binding arbitration in accordance with the Indian Arbitration and Conciliation Act, 1996. The venue and seat of arbitration shall be Bangalore unless the parties agree on another location. The arbitration shall be conducted in the English language. The arbitration shall be conducted by a sole arbitrator to be appointed by the Company.

12) Force Majeure

KNAB shall not be liable for failure or delay in the performance of Services, if such failure or delay is caused by strike, riot, fire, flood, natural disaster, or other similar cause beyond its control.

13) Additional Services

KNAB may from time to time offer additional services which shall be subject to such further terms prescribed by KNAB. By availing those additional services, the Borrower shall be subject to such further terms.

14) Waiver

No waiver of any breach of any provision of this Agreement shall constitute a waiver of any prior, concurrent or subsequent breach of the same or any other provisions of this Agreement. Further, no waiver shall be effective unless made in writing and signed by an authorised signatory of the waiving party.

15) Severability

If any of the terms, conditions or provisions contained in this Agreement are determined by any court of competent jurisdiction to be invalid, unlawful or unenforceable to any extent, such term, condition or provision shall to that extent be severed from the remaining terms, conditions and provisions which shall continue to be valid to the fullest extent permitted by law.

16) Notices

All notices and other communications made or required to be given under this Agreement shall be in writing and shall be deemed given upon receipt when sent through (1) email (2) registered post acknowledgement due, or (3) courier services, to the address specified below:

If to KNAB:

Email: notice@knabfinance.com

Address: L-127, GR Towers, 4th Main, 14th Cross, HSR Layout, Sector 6, Bangalore – 560102.

If to Borrower:

To the email id and address provided at the time of registration and set-up of Account.

17) Entire Agreement

These Terms along with any additional terms or addendum as may be prescribed by KNAB constitute the entire agreement between the parties pertaining to the subject matter contained herein and any written or oral agreements existing between the parties or modifications to these Terms shall have no force or effect unless expressly agreed to in writing or acknowledged in writing by KNAB.