TERMS OF USE FOR CREDIT FACILITY 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 Customer (as defined hereafter). KNAB enables business organizations better access to short term, unsecured credit facility from banking and financial institutions by leveraging its capabilities in areas of technology, data collection and automated processes and also undertakes servicing of loans and credit facilities upon disbursal to its Customers (“Services”).

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

1) Definitions

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

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

“Credit Institution” means a bank, non-banking financial company or a financial institution affiliated with KNAB that considers credit facility application made by the Customer through use of KNAB’s resources;

“Credit Facility” means the short term, unsecured loan disbursed by the Credit Institution to the Customer;

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

“End Use” means the specific purpose for which the Customer seeks to avail the Credit Facility;

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

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

2) Account Set-up

a) In order to avail Services from KNAB, the Customer is required to register for and maintain a service account (“Account”) in accordance with the instructions set out on the Website.

b) Account registration requires the Customer to submit complete, accurate and up-to-date information as expressly set out in the Website.

c) By availing and continuing to use the Services rendered by KNAB, the Customer expressly consents that any information submitted by it for Account set-up may be used by KNAB in accordance with the privacy policy published at https://www.knabfinance.com/privacy-policy (“Privacy Policy”) which is deemed to be part of these Terms.

3) Services

a) Eligibility

i) Upon submitting Eligibility Information and setting up of Account, the Customer will be intimated (“Eligibility Intimation”) as to whether any Credit Institution may be willing to consider an application from the Customer for Credit Facility for the prescribed End Use and if so then the limit and tenure of such Credit Facility.

ii) The Customer acknowledges that Eligibility Intimation is merely a determination by KNAB Systems that certain Credit Institution(s) may be willing to consider an application by the Customer for Credit Facility. The Eligibility Intimation must not be deemed to be an assurance that any Credit Institution will indeed grant Credit Facility to the Customer or process an application for Credit Facility submitted by the Customer.

iii) Eligibility Intimation is meant to provide the Customer a high level understanding regarding its ability to apply for Credit Facility and the primary terms that shall be applicable to such Credit Facility.

b)Credit Facility Application

i) Upon receiving Eligibility Intimation, the Customer shall be able to apply for Credit Facility subject to the limit and tenure as set out in the Eligibility Intimation. KNAB shall then communicate the Customer of the specific Credit Institution to which an application for Credit Facility (“Credit Facility Application”) and the Application Information that must be submitted to the said Credit Institution.

ii) Should the Customer want to complete the Credit Facility Application he/she/it must submit Application Information to KNAB which will in turn be sent to the Credit Institution(s).

iii) The Credit Institution(s) may in addition to Application Information seek submission of further documents and information which the Customer agrees to provide; failure to provide such additional documents and information shall render the Credit Facility Application incomplete and invalid.

iv) While the Application Information shall be submitted by the Customer 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 Credit Institution. KNAB shall endeavour to facilitate submission of such physical documents or other materials (“Application Materials”) by collecting them from the Customer and handover to the Credit Institution. The Customer hereby authorizes KNAB or its vendors, as the case may be, to transport the Application Materials to the Credit Institution. The Customer 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 Customer 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.

v) Upon submission of the Credit Facility Application, the Credit Institution may require the Customer to complete certain actionable including submission of relevant documents, information or other materials prior to sanction of the Credit Facility. The Customer acknowledges that submission of the Credit Facility Application in itself does not ensure sanction of the Credit Facility by the Credit Institution. The Credit Institution at all times reserves its right to sanction or deny grant of the Credit Facility to the Customer which is determined by its internal credit approval policies and guidelines.

vi) The Customer further acknowledges that submission of Credit Facility Application as also sanction and disbursal of the Credit Facility (should the Credit Institution choose to) establishes a direct contractual relationship between the Customer and the Credit Institution without any recourse to KNAB in any manner whatsoever.

c)Network Access and Device

i) It is the Customer’s responsible for obtaining the data network access necessary to use the Services. The Customer’s mobile network’s data usage rates and fees will apply for access or use the Services from a wireless-enabled device.

ii) The Customer 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

a) Subject to Customer’s compliance with these Terms, KNAB grants the Customer a limited, non-exclusive, revocable, non-transferrable license in India to: (i) access and use KNAB Systems through a computer system or other mobile communication device solely in connection with your 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.

b) Restrictions: The Customer 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) re-sell, 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 you do not have any right to; (B) is grossly harmful, harassing, blasphemous defamatory, obscene, pornographic, paedophilic, libellous, 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, defence, 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.

c) KNAB shall have the on-going right to monitor your use of the Services to understand and analyse your usage of the Services, to further improve and modify the Services and the KNAB Systems and/or to determine your compliance with these Terms.

d) The Customer 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 Customer 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 Customer understands and acknowledges that any Use of the Service and any User Generated Content is solely at its own risk.

* User Generated Content means any information that may be generated or encountered through your 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.

e) The Customer 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 Customer may store or access through the Services will not be subject to inadvertent damage, corruption or loss.

5) Fees

a) KNAB does not currently charge any Fees for Your use of the Services. Your compliance with these Terms is deemed to be sufficient consideration for KNAB. Should KNAB decide on a future date to charge fees (“fees”) for the Services, details of the same shall be updated at http://www.knabfinance.com/fees and You will be sent suitable notification in this respect. As and when KNAB updates details of the Fees, these Terms will be deemed to be suitably amended to include such revised provisions in relation to the Fees.

b) As and when Fees are applicable, they will be payable within such time period and in such manner as may be prescribed by KNAB. Fees must be payable directly to KNAB and You must refrain from making any payments to any representatives of KNAB or its vendors who may get in touch with You for collection of the Application Materials or any purpose in relation to Your Credit Facility Application.

c) All Fees are exclusive of any and all taxes including any transactional taxes applicable thereon.

6) Limited Warranty

a) The Customer understands and acknowledges that certain risks are inherent in the transmission of information over the internet. By entering in to this agreement, the Customer chooses to use and rely on the security measures provided by KNAB even though other security measures are available. 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, unless caused by the wilful misconduct or gross negligence of its employees.

b) 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 does not represent that the Services will meet the Customer’s requirements or that operation of the Services will be uninterrupted or error free.

c) The Customer 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.

d) KNAB AND ITS AFFILIATES, SUBSIDIARIES, OFFICERS, DIRECTORS, EMPLOYEES, AGENTS, PARTNERS AND LICENSORS HEREBY DISCLAIM AND EXPRESSLY WAIVES ALL OTHER, CONDITIONS, REPRESENTATIONS AND GUARANTEES, WHETHER EXPRESS OR IMPLIED, ARISING BY LAW, CUSTOM, ORAL OR WRITTEN STATEMENTS OF KNAB OR THIRD PARTIES INCLUDING, BUT NOT LIMITED TO, ANY WARRANTY OF MERCHANTABILITY OR FITNESS FOR PARTICULAR PURPOSE OR OF ERROR-FREE AND UNINTERRUPTED USE OR OF NON-INFRINGEMENT EXCEPT TO THE EXTENT EXPRESSLY PROVIDED ABOVE (LIMITED WARRANTY). IN PARTICULAR, KNAB AND ITS AFFILIATES, SUBSIDIARIES, OFFICERS, DIRECTORS, EMPLOYEES, AGENTS, PARTNERS AND LICENSORS MAKE NO WARRANTY THAT (I) THE SERVICE WILL MEET THE CUSTOMER’S REQUIREMENTS; (II) THE CUSTOMER’S USE OF THE SERVICE WILL BE TIMELY, UNINTERRUPTED, SECURE OR ERROR-FREE.

7) Term and Termination

(a) These Terms and the right to use granted hereunder shall take effect on the date you create an Account with KNAB, and shall continue in effect until the later of submission of the Credit Facility Application or expiry of any Services rendered by KNAB to the Customer. Either party may terminate this Agreement by providing thirty (30) days’ notice of the same.

(b) KNAB may terminate the Agreement:

(i) thirty (30) days after KNAB gives the Customer notice of breach by it of any provision of the Agreement (other than your breach of its obligations under Section 4(b) (Restrictions) or Section 8 (Confidential Information) which breach shall result in immediate termination) and which you do not cure within the thirty (30) day notice period; or

(ii) immediately for not repaying any charges payable by the Customer pursuant to these Terms;

(iii) if the Customer file for bankruptcy, become insolvent, or make an assignment for the benefit of creditors.

(c) 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) Confidential Information

In the course of the Customer’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 Customer to the Credit Institutions 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, customer 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.

9) Privacy

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

10) Indemnity

The Customer shall defend, indemnify and hold harmless KNAB, it’s officers, directors, employees and agents, from and against against any and all claims, damages, obligations, losses, liabilities, debts and costs (including reasonable attorneys’ fees), brought against KNAB by third parties (including but not limited to Credit Institutions) resulting from or relating to (i) the Customer’s use of and access of the Service; (ii) the Customer’s violation of these Terms; (iii) Customer’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 Customer submitted caused damage. The Customer’s indemnification obligation under this Section 10 will survive termination of this Agreement and your use of the Services.

11) Limitation of Liability

(a)KNAB shall have no responsibility or liability if (i) the Services are not used in accordance with these Terms and any other additional terms and conditions that may apply to the Customer’s use of the Services; or (ii) if any defect is caused by the Customer’s computing environment, or by interfacing third-party software.

(b) 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

(c) THE MAXIMUM AGGREGATE AMOUNT THAT THE CUSTOMER OR ANY PARTY CLAIMING THROUGH IT CAN RECOVER FROM KNAB AND ITS AFFILIATES, OFFICERS, EMPLOYEES, AGENTS AND PROFESSIONAL ADVISORS FOR ALL CLAIMS ARISING FROM, UNDER OR RELATING TO THIS AGREEMENT (WHETHER IN CONTRACT, TORT INCLUDING NEGLIGENCE OR OTHERWISE) WILL IN NO EVENT EXCEED INR 2500 (Rupees Two Thousand Five Hundred).

12) Assignment

The Customer agrees not to assign this Agreement without the prior written consent of KNAB.

13) Dispute Resolution and Governing Law

The Parties hereby agree that this Agreement shall be governed by and construed in accordance with the laws of India, without regard to its conflict of laws principles. Any and all disputes that arise under this Agreement shall be subject to the exclusive jurisdiction of the competent courts in Bangalore, India.

14) Force Majeure

KNAB shall not be liable to the other 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.

15) 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 Customer shall be subject to such further terms.

16) 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.

17) 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.

18) RBI Disclaimer

(a) “Reserve Bank of India neither accepts any responsibility nor guarantees the present position as to the financial soundness of the company or for the correctness of any of the statements or representations made or opinions expressed by the company and for discharge of any liability by the company”

(b) “Neither there is any provision in law to keep, nor does the company keep any part of deposits with the Reserve Bank of India and by issuing a Certificate of Registration to the Company, the Reserve Bank of India, neither accepts any responsibility nor guarantees the payment of deposits to any depositor or any person who has lent any sum to the company.”

19) 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) personal service, 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 Customer: To the email id and address provided at the time of registration and set-up of Account

20) 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.