TERMS OF USE

Introduction

This document is an electronic record in terms of the Information Technology Act, 2000 and rules thereunder as applicable and the provisions pertaining to electronic records in various statutes as amended by the Information Technology Act, 2000. This electronic record is generated by a computer system and does not require any physical or digital signatures.

This document is published in accordance with the provisions of Rule 3(1) of the Information Technology (Intermediaries Guidelines) Rules, 2011 that requires publishing the rules and regulations, privacy policy and terms of use for access or usage of this website.

1. THE TERMS OF USE FOR BORROWERS

1.1. The domain name www.finzy.com (“Website”) is owned and operated by Bridge Fintech Solutions Private Limited, a private limited company incorporated under the Companies Act, 2013 with its registered office at, Flat No. 2305, 23rd Floor, F-Wing, Ashok Gardens, T. J. Road, Sewree, Mumbai – 400015, Maharashtra, India (hereinafter referred to as "Bridge Fintech”, which expression shall, unless it be repugnant to the context or meaning thereof, be deemed to include its successors, affiliates, partners and permitted assigns). The objective of the Website is to facilitate the lending and borrowing of capital, in accordance with the terms of the loan agreement to be executed between the lender and borrower (“Services”).

1.2. Bridge Fintech does not guarantee any returns on any transactions consummated vis-à-vis the Website to any person, either directly or indirectly.

1.3. For the purpose of these Terms of Use (“Terms”), wherever the context so requires, the term:

1.3.1. “Borrower” shall mean an individual resident in India, who is willing to borrow, using the Website and is registered as a ‘Borrower’ on the Website.

1.3.2 “Force Majeure Event” shall mean any event that is beyond the reasonable control of Bridge Fintech and shall include, without limitation, sabotage, fire, flood, explosion, act of God, civil commotion, strikes, lockouts or industrial action of any kind, riots, insurrection, war, acts of government, computer hacking, civil disturbances, unauthorised access to computer data and storage device, computer crashes, virus attacks, breach of security and encryption, and any other similar events not within the control of Bridge Fintech and which Bridge Fintech is not able to overcome.

1.3.3 “Lender/Investor” shall mean any Person permitted to lend in India, in accordance with applicable laws, who is willing to lend/invest on the Website and is registered as a ‘Lender’ on the Website.

1.3.4 “Borrower Escrow Account” shall mean a non-interest bearing account maintained by Bridge Fintech with a scheduled commercial bank for the purposes of the Services.

1.3.5 “Person” shall mean an individual, a corporation, a partnership, a joint venture, a trust, an unincorporated organization and any other legal entity.

1.3.6 “P2P Platform/s” shall mean an intermediary providing the services of loan facilitation via online medium or otherwise, to persons desirous of lending on it or availing loan facilitation services provided by it.

1.3.7 “P2P Regulations” shall mean Master Directions – Non-Banking Financial Company – Peer to Peer Lending Platform (Reserve Bank) Directions, 2017 dated October 4, 2017.

1.3.8 “Trustee” a trustee appointed in accordance with the requirements under P2P Regulations to manage the Borrower Escrow Account.

1.4. Bridge Fintech reserves the right, at its sole discretion, to change, modify, add or remove portions of these Terms, at any time without any prior written notice to the Borrower. It is the Borrower’s sole responsibility to review these Terms periodically for updates or changes. The Borrower’s continued use of the Website or Services following the posting of changes shall be deemed to mean that the Borrower accepts and agrees to the revisions. As long as the Borrower complies with these Terms, Bridge Fintech grants the Borrower a personal, non-exclusive, non-transferable, limited privilege to enter and use the Website.

1.5. Accessing, browsing or otherwise using the Website indicates the Borrower’s agreement to all the terms and conditions under these Terms. Borrower is advised to read these Terms carefully before proceeding. By impliedly or expressly accepting these Terms, the Borrower also accepts and agrees to be bound by all Bridge Fintech’s policies, including but not limited to its Privacy Policy as amended from time to time. The Borrower further agrees that the Borrower shall remain bound by Bridge Fintech’s policies, including but not limited to these Terms and the Privacy Policy for as long as any loans borrowed by the Borrower remain outstanding.

1.6  Summary of the Terms of Use

  1. Membership Eligibility
    This section lays down the eligibility criteria to use the Website.

  2. Borrower’s Account and Registration Obligations
    This section provides the manner and procedure of registration, using the Services of this Website.

  3. Use of the Website
    This section lays down the Borrower’s agreement to the terms governing the use of the Website.

  4. Terms and Conditions of Service
    This section lays down the terms and conditions governing the use of the Services provided by the Website.

  5. Fees
    This section states lays down the terms and conditions governing the payment of fees by the Borrower for the Services provided.

  6. Confidentiality
    This section states that Bridge Fintech shall not disclose confidential information to anyone except as required by law.

  7. Links to Third Parties’ Websites
    This section declares that Bridge Fintech is not responsible and has no liability for the functionality, actions, inactions, privacy settings, privacy policies, terms or content of any third party websites.

  8. Indemnification
    This section states that the Borrower agrees to indemnify Bridge Fintech against any and all claims, which may be incurred by Bridge Fintech, arising out of any breach to these Terms of Use or the Privacy Policy.

  9. Only a Platform
    This section states that the Website is only a platform for facilitating the borrowing and lending of capital.

  10. Termination
    This section states the conditions under which the Services to the Borrower under the Website may be terminated.

  11. Disclaimer of Warranties
    This section explains that Bridge Fintech makes no representations or warranties of any kind as to the operation of the Website, accuracy or completeness of the contents and information provided herein.

  12. Limitation of Liability
    This section lays down the circumstances under which Bridge Fintech shall not liable to the Borrower.

  13. Governing Law and Resolution of Disputes
    This section states that these Terms of Use shall be governed by the laws of India and that the place of jurisdiction shall exclusively be in Bangalore, Karnataka, India.

  14. Grievance Redressal Mechanism
    This section states the details of the grievance redressal officer on occurrence of any grievances.

  15. How to contact us
    This section provides the details where the Borrower can reach out to Bridge Fintech.

  16. Miscellaneous
    This section provides certain clarifications for all parties concerned.


  1. MEMBERSHIP ELIGIBILITY
    Use of the Website is available only to Persons who can enter into legally binding contracts under the Indian Contract Act, 1872. Persons who are "incompetent to contract" within the meaning of the Indian Contract Act, 1872 including minors, un-discharged insolvents and persons of unsound mind are not eligible to use the Website. Any person, if an individual under the age of 18 shall not register as a Borrower on the Website and shall not transact on or use the Website. Bridge Fintech reserves the right to terminate any Person’s membership and/or refuse to provide such Person with access to the Website if it is brought to Bridge Fintech’s notice or if it is discovered that such Person is not eligible to use the Website.


  2. BORROWER’S ACCOUNT AND REGISTRATION OBLIGATIONS
    1. 2.1. The Website allows very limited and restricted access to the Services for unregistered users.

    2. 2.2. Creation of Borrower Account
      1. 2.2.1 The Borrower may create an account (“Borrower Account”) based on information to be filled in at the time of registering, which may include, mobile number and one time password or any valid email ID/user ID and password (collectively, “Borrower Account Information”).

      2. 2.2.2. While registering with the Website to avail the Services, the Borrower shall not:
        1. create any Borrower Account for anyone other than the Borrower, unless such Person's prior permission has been obtained;
        2. use a Borrower Account that is the name of another person with the intent to impersonate that person;
        3. use a name for the Borrower Account that is a name that is otherwise offensive, vulgar or obscene or otherwise unlawful; or
        4. create more than one Borrower Account on the Website.
      3. 2.2.3. Notwithstanding anything to the contrary contained hereinabove, while a third party, with the consent of the Borrower, may create the Borrower Account on the Website, the actual usage and operation of Borrower Account shall be consummated only by the Borrower himself. Such third party may for this limited purpose use the Website, and for no other reason whatsoever.

    3. 2.3. Provision of Borrower’s Documentation
      1. 2.3.1 In order for a Borrower to avail the Services from Bridge Fintech through the Website and for the Borrower Account to go live, the Borrower is required to provide Bridge Fintech with certain user information/documentation for verification in a form and manner acceptable to Bridge Fintech, which shall include, inter alia, the following:
        1. Know Your Customer documents, such as proof of identity, address and recent photograph;
        2. Aadhaar Number, name and address (for authentication with UIDAI);
        3. Employment or income related documents
        4. Permanent Account Number (PAN); and
        5. Email ID and phone number verification.
        In addition to the above, Bridge Fintech reserves the right to request the Borrower to provide such other information/documentation as it may deem fit.

      2. 2.3.2. In case of co-applicant for a particular loan requirement of the Borrower, Bridge Fintech may at its sole discretion require information/documentation for such co-applicant.

    4. 2.4. Verification
      1. 2.4.1. The Borrower agrees that the use of Website, consequent upon the creation of the Borrower Account, is subject to verification by Bridge Fintech of the documentation indicated hereinabove. The Borrower acknowledges and agrees that Bridge Fintech may use and disclose his information and documentation for the purpose of such verification, including (without limitation) making inquiry through third parties, to ascertain the following:
        1. Financial strength of the Borrower;
        2. Borrower’s credit worthiness; and
        3. Loan amount eligibility.
        The Borrower accepts that such verification may also be conducted for the purpose of vetting, inter alia, the communication address, mobile phone data and employee or business details of the Borrower (as may be applicable). The Borrower further acknowledges that Bridge Fintech reserves the right for such verification either on registration of the Borrower Account or at any time thereafter. Such verification may be conducted through third party service providers and the Borrower hereby authorises Bridge Fintech to share the aforesaid information with such third party service providers for the purposes of verification.

      2. 2.4.2 The Borrower hereby grants Bridge Fintech permission to conduct such verification, in such form and manner as it may deem fit, and disclose his personal information and documentation to third parties in the process. The Borrower also authorizes such third parties to disclose to Bridge Fintech such information as may be requested by Bridge Fintech for the purposes of the verification. Such information may be used by Bridge Fintech to assign risk ratings to the Borrower and to determine recommended interest rate applicable to the Borrower.

      3. 2.4.3. The Borrower agrees and acknowledges that any information relating to the Borrower, including but not limited to any credit information report received from registered Credit Information Companies (CIC), procured by Bridge Fintech, whether directly from the Borrower or indirectly from any third party source, will be made available to the Lenders on the Website, and the Borrower accordingly gives his consent for sharing of such information in accordance with the terms hereof. For this purpose, the Borrower hereby provides Bridge Fintech with a royalty-free, fully paid-up, worldwide, non-exclusive license to such use of the Borrower’s information and such use by Bridge Fintech shall not constitute a violation or infringement of the Borrower’s intellectual property.


    5. 2.5. Borrower Obligations
      1. 2.5.1. The Borrower will be responsible for maintaining the confidentiality of the Borrower Account Information, and shall be fully responsible for all activities that occur under the Borrower Account. The Borrower agrees to, (i) immediately notify Bridge Fintech of any unauthorised use of the Borrower Account Information or any other breach of security; and (ii) ensure that the Borrower exits from the Borrower Account at the end of each session. Bridge Fintech cannot and will not be liable for any loss or damage arising from the Borrower’s failure to comply with this Clause. The Borrower may be held liable for losses incurred by Bridge Fintech or any user or visitor of the Website due to authorised or unauthorised use of the Borrower Account, as a result of the Borrower’s failure in keeping the Borrower Account Information confidential.

      2. 2.5.2. The Borrower shall ensure that the Borrower Account Information provided by the Borrower in the Website’s registration form or any other information provided by the Borrower for purpose of creation of the Borrower Account is complete, accurate and up-to-date. Use of another Borrower’s account information for availing the Services of the Website is expressly prohibited.

      3. 2.5.3 The Borrower shall ensure that the aggregate loans taken by him (whether for transactions consummated through the Website or other P2P Platforms) does not exceed Rs. 10,00,000/- (Indian Rupees Ten Lakhs only) at any point of time. The Borrower shall be required to provide declarations, from time to time, in a form and manner Bridge Fintech may deem fit, confirming compliance with this Clause. The Borrower’s failure to comply with this Clause shall entitle Bridge Fintech to indefinitely suspend or terminate or block access to the Borrower Account on the Website and refuse to provide the Borrower with access to the Website, or take such other action against the Borrower as it may deem fit.

      4. 2.5.4 The Borrower agrees that if the Borrower provides any information that is untrue, inaccurate, not current or incomplete, (or becomes untrue, inaccurate, not current or incomplete) or if Bridge Fintech has reasonable grounds to suspect that such information is untrue, inaccurate, not current, incomplete, or not in accordance with the these Terms, Bridge Fintech shall have the right to indefinitely suspend or terminate or block access to the Borrower Account on the Website and refuse to provide the Borrower with access to the Website.


  3. USE OF THE WEBSITE

    1. 3.1. The Borrower agrees, undertakes and covenants that, during the use of the Website, the Borrower shall not host, display, upload, modify, publish, transmit, update or share any information that:
      1. 3.1.1 Belongs to another person or entity and to which the Borrower does not have any right.

      2. 3.1.2 Is grossly harmful, harassing, blasphemous, defamatory, obscene, pornographic, paedophilic, libellous, invasive of another's privacy, hateful or racially or ethnically objectionable, disparaging or encouraging money laundering or gambling, or otherwise unlawful in any manner whatsoever.

      3. 3.1.3. Is misleading in any way.

      4. 3.1.4. Involves the transmission of "junk mail", "chain letters", or unsolicited mass mailing or "spamming".

      5. 3.1.5. Infringes upon or violates any third party's rights including, but not limited to, intellectual property rights, rights of privacy (including without limitation unauthorized disclosure of a person's name, email address, physical address or phone number) or rights of publicity.

      6. 3.1.6. Tries to gain unauthorized access or exceeds the scope of authorized access to the Website or to profiles, blogs, communities, account information, bulletins, or other areas of the Website or solicits passwords or personally identifying information for commercial or unlawful purposes from other Borrowers.

      7. 3.1.7. Interferes with another Borrower's use and enjoyment of the Website.

      8. 3.1.8. Refers to any website or URL that, in Bridge Fintech’s sole discretion, contains material that is inappropriate for the Website or any other website, contains content that would be prohibited or violates the letter or spirit of these Terms.

      9. 3.1.9. Contains software viruses or any other computer codes, files or programs designed to interrupt, destroy or limit the functionality of any computer resource; or contains any trojan horses, worms or other computer programming routines that may damage, detrimentally interfere with, diminish value of, surreptitiously intercept or expropriate any system, data or personal information.


  4. TERMS AND CONDITIONS OF SERVICE
    1. 4.1.  The Services by Bridge Fintech shall be provided for a term commencing from the date the Borrower Account goes live.

    2. 4.2. Loan Listings
      1. 4.2.1. Once the Borrower Account is live, the Borrower shall be entitled to use the Website to register and provide required information and documents in order to list his loan requirements on the Website.

      2. 4.2.2. Prior to the listing of the loan request, the Borrower shall be required to provide the following information:
        1. Purpose of borrowing;
        2. Quantum of loan required; and
        3. Any other information as may be requested by the Bridge Fintech.

      3. 4.2.3. Based on the information provided by the Borrower and Borrower’s information procured by Bridge Fintech, whether directly or indirectly, Bridge Fintech will assess the Borrower’s credit risk.

      4. 4.2.4. The Borrower accepts and agrees that Bridge Fintech has complete discretion to assign credit score and credit rating and is further authorized to disclose such rating assigned to a Borrower, in the manner indicated in these Terms. The Borrower understands that all the Borrower’s information, as procured above, will be made public to all visitors on the site and hereby gives his consent for the same.

      5. 4.2.5. The Borrower shall be required to accept the credit rating and rate of interest offered within a specified time period, as may be communicated by Bridge Fintech. Borrower’s failure to accept such credit rating and rate of interest within the specified time period shall lead to withdrawal of the loan offer. Notwithstanding the foregoing, any renewal of the loan offer shall be at the sole discretion of Bridge Fintech. The credit rating and rate of interest, once assigned, for a particular loan request cannot be related to a loan availed on any prior date by the Borrower.

      6. 4.2.6. The Borrower cannot contest or challenge the credit rating or seek explanation regarding the methodology adopted to arrive at such credit rating. The credit scoring methodology and credit rating methodology applicable to the Borrower may, at the sole discretion of Bridge Fintech, be updated/amended from time to time. Bridge Fintech shall, however, not be responsible for any loss whatsoever from such updates or amendments thereto.

      7. 4.2.7. Bridge Fintech shall disclose an overview of credit assessment/score methodology and factors considered on the Website in accordance with the P2P Regulations.

      8. 4.2.8 It is hereby clarified that once the Borrower gives his acceptance, as required under Clause 4.2.5 above, the Borrower’s loan would be listed. and listing cannot be amended or withdrawn without the approval of Bridge Fintech and such acceptance shall further constitute deemed acceptance for listing of the loan details on the Website, subject to Bridge Fintech’s approval. Once approved, the Borrower's listing will be displayed and the Borrower may receive offers for investments based on the loan listing.

      9. 4.2.9. The Borrower acknowledges that Bridge Fintech reserves the right to reject any request for loan made by the Borrower without assigning any reason whatsoever. If a loan request is rejected by Bridge Fintech, the Borrower shall be entitled to reapply for a loan after a certain period of time, as decided by Bridge Fintech at its sole discretion.

      10. 4.2.10. Bridge Fintech shall place the information relating to loan listings on such sections of the Website based on the credit rating assigned to the Borrower, as it may deem fit and proper. Bridge Fintech also has the right to make visual modifications/edits on the loan listings in order to fit its database and/or improve the user interface.

      11. 4.2.11. The loan listing of the Borrower shall be kept open for as long as Bridge Fintech may deem fit in its sole discretion (“Listing Period”). The Borrower agrees that a loan listing may be frozen or removed from the Website, (i) if the loan request is fully funded by the Lenders, before the expiry date of listing; or (ii) if the Lenders have agreed to fund up to 70% of the requested loan amount (“Minimum Threshold”) on or prior to the expiry of the Listing Period, whichever is earlier. If, however, the Minimum Threshold is not reached during the Listing Period, Bridge Fintech may, at its sole discretion, extend the Listing Period by a further period, as decided by Bridge Fintech. It is hereby clarified that Bridge Fintech shall not be liable to the Borrower for any non-fulfilment of the loan request within the Listing Period or any further extended period (as the case may be).

      12. 4.2.12. The Borrower hereby agrees to receive information on his loan request from Bridge Fintech, whether by e-mail or SMS notifications. The Borrower is required to intimate Bridge Fintech immediately of any changes to the Borrower’ e-mail or mobile phone numbers. By accepting these Terms, the Borrower further authorizes Bridge Fintech to get in touch with the Borrower for communication and promotions, despite any Do Not Disturb requests made by the Borrower.

      13. 4.2.13. For as long as the loan is subsisting and is repayable by the Borrower, or any period as may be deemed fit by Bridge Fintech, the Borrower shall not be entitled to make another loan request on the Website. For a fresh request for loan, the Borrower understands that the process for verification and listing as provided in these Terms shall be commenced again.

      14. 4.2.14. The Borrower shall be required to promptly intimate Bridge Fintech of any change in his personal/employment/income and any other relevant information, whether prior to or post the listing of his loan request on the Website. If, however, the Borrower does not intimate Bridge Fintech of such a change in a timely manner, Bridge Fintech shall be entitled to take all action available to it, including black-listing or blocking the Borrower from using the Services on its Website.

      15. 4.2.15. Bridge Fintech shall not be held liable for any loss of data, technical or otherwise, information, particulars supplied by the Borrower, due the reasons beyond its control like corruption of data or delay or failure to perform as a result of a Force Majeure Event.

      16. 4.2.16. Bridge Fintech shall have the sole discretion to determine the locations and pin codes it may want to serve.




    3. 4.3. Formation of loan agreement
      1. 4.3.1. The Borrower agrees and understands that multiple Lenders may invest in the loan, and that the Borrower shall not be entitled to reject a loan, for any reason whatsoever, once the loan listing is displayed on the Website. By listing the Borrower’s requirement on the Website, the Borrower agrees to accept all terms and conditions and any loan provided based on the loan listing and shall not be entitled to either decide the number of Lenders investing in the loan nor the right to select or reject any Lender. If, however, the Borrower rejects a loan, Bridge Fintech shall be entitled to take all action available to it, including black-listing or blocking the Borrower from using the Services on its Website.

      2. 4.3.2. Once the verification has been completed and the necessary documentation has been received, Bridge Fintech shall act as the intermediary between the Borrower and Lender to facilitate the execution of the loan agreement and related documentation.

      3. 4.3.3. Borrower agrees to sign and execute the loan agreements and to provide necessary assistance to Bridge Fintech for, whether electronically or physically, executing the same.

      4. 4.3.4. Borrower further agrees to co-operate with Bridge Fintech or any third party appointed by Bridge Fintech in (a) providing necessary documentation, (b) helping Bridge Fintech or such third party to conduct physical verification of the Borrower, (c) executing requisite documents, and (d) any other actions as may be required in relation to the loan agreement.



    4. 4.4 Disbursement of Loan
      Within a period of 5 (Five) working days of receipt of the executed copy of the loan agreement and other relevant documents or scanned copy thereof, whichever is earlier or such further period as may be required by Bridge Fintech, the loan shall be disbursed to the Borrower’s bank account, details of which are provided by the Borrower. If there is any mistake in the account details provided by the Borrower, the Borrower and not Bridge Fintech would be held responsible for the same.


    5. 4.5. Repayment & Prepayment of Loan
      1. 4.5.1. The Borrower agrees and understands that the tenure of the loan shall be for such tenure as indicated by Bridge Fintech on the Website.

      2. 4.5.2. The Borrower shall repay the loan, the interest thereon and all other outstanding to the Lender, as per the given repayment schedule and details of the Equated Monthly Instalments (EMI(s)) indicated on the Website. The amounts due and payable to the Lender(s) shall be deducted automatically from the Borrower’s account for payment of the EMIs on a monthly basis, and the Borrower hereby authorizes Bridge Fintech to make such automatic deductions. All EMIs and all repayments shall be remitted to the Borrower Escrow Account or if permitted by applicable law to another bank account as may be indicated by Bridge Fintech to the Borrower. It is hereby clarified that for the payment of interest, the Website will follow the following business day convention and interest will be calculated based on actual/365 days’ basis. It is further clarified that the EMI indicated with the loan offer may vary from the EMI indicated on the Website and actually payable to a Lender.

      3. 4.5.3. For disbursements made on or before the 15th of a month, the Borrower agrees that the first EMI shall be paid by 5th of the following month, and for disbursements after the 15th of a month, the first EMI shall be paid by 5th of the month following the next month. The Borrower will be given a grace period of minimum 5 (Five) days, post which, late fee and penal interest shall be payable, as indicated in Clause 4.6 below.

      4. 4.5.4. Any policy on prepayment of loan amount or changes to the tenor of the loan shall be at sole discretion of Bridge Fintech. Bridge Fintech, at its sole discretion, shall be entitled to levy prepayment charges and/or penalties in lieu of such prepayment, which shall be indicated to the Borrower on the Website.

      5. 4.5.5 The Lender shall not be entitled to ask the Borrower to prepay the loan amount, and any prepayment shall be in accordance with the terms of the loan agreement and that prepayment option shall be exercisable by the Borrower on any working day after the disbursal of the loan amount, subject to the no prepayment dates specified on the Website.

      6. 4.5.6 Any part prepayment by Borrower shall be in multiple of Rs 1,000/- (Indian Rupees One Thousand) with a minimum of Rs 5,000/- (Indian Rupees Five Thousand). Full prepayment by Borrower can be of any outstanding amount.


    6. 4.6. Late Fees and Penal Interest
      1. 4.6.1. The Borrower agrees that for any default or delay by the Borrower in payment for dues towards EMIs to any Lender, a late fee and penal interest would be charged. Details of such late fees and penal interest payable shall be made available on the Website as part of the ‘Bridge Fintech Recovery Policy’ and the same shall be updated on a periodical basis.

      2. 4.6.2. The late fees and penal interest shall be payable by the Borrower from the date of default till the date of actual payment of the EMI and such late fees and penal interest by the Borrower. Bridge Fintech and/or the Lender shall also be entitled to exercise such other remedies available to the Lender under applicable law.

      3. 4.6.3. In case of any payment received from Borrower towards any EMI, it is hereby clarified that the funds so received shall be utilised in accordance with the terms of the loan agreement.


    7. 4.7 Delay in repayment of loans
      1. 4.7.1. The Borrower understands and accepts that any delay in repayment of the EMIs to any Lender shall constitute a breach of these Terms.

      2. 4.7.2. It is hereby clarified that each Lender vis-à-vis these Terms has authorized Bridge Fintech to follow up with the Borrower(s) for collection in case a Borrower delays in payment of any instalment as per the agreed repayment schedule, even after the grace period of at least 5 (Five) days is provided to the Borrower, in accordance with the terms of the ‘Model Policy on Collection of Dues ’.

      3. 4.7.3. The Lender has further authorized Bridge Fintech to take all and any legal recourse available to it for the recovery of the instalments due to the Lender, upon occurrence of an event of default as identified in the loan agreement, in accordance with the terms of the loan agreement read with the ‘Bridge Fintech Recovery Policy’.

      4. 4.7.4. Bridge Fintech also reserves the right to report any delinquent loan and/or delayed payments to the relevant authorities such as the Credit Information Companies (CIC), and other such databases, lists and authorities. Bridge Fintech may also report the case as an NPA, i.e., a non-performing asset and/or indicate the Borrower as a ‘wilful defaulter’ on the Website or other social forums and/or undertake any other action, as it may deem fit. The Borrower hereby acknowledges exercise of such rights by Bridge Fintech and gives consent to such rights being exercised.

      5. 4.7.5. It is hereby clarified that upon Bridge Fintech declaring a particular loan to be an NPA, the Lender(s) are entitled to undertake any action against the delinquent Borrower that they may deem fit.


    8. 4.8. Bridge Fintech offers no guarantee or warranty that:
      1. 4.8.1. there would be a satisfactory response or any response at all, once the loan listing is put on display and that loan offer and/or loan listing will result in a funded loan;

      2. 4.8.2. the Borrower will be able to raise the entire loan amount, requested by the Borrower; or

      3. 4.8.3. the Borrower will be entitled to loan at a specific rate of interest.


  5. FEES
    1. 5.1. The Borrower hereby agrees that he shall be liable for all fees and charges associated with the use of the Website and Services, which may include registration fee and a loan processing fee, as may be applicable. Further details of the fees payable (including, but not limited to the terms pertaining to such fees and the quantum thereof), has been set out in the Section ‘Pricing & Fee’.

    2. 5.2. The Borrower hereby consents and agrees that Bridge Fintech may, at its discretion, deduct the fees and charges indicated above, from the loan disbursement amount subject to applicable laws or otherwise, or agree to accept the fees in any other manner from Borrower, at its sole discretion. Provided however that, the Borrower shall at all times be liable towards the Lenders for the entire loan amount disbursed to him pursuant to a loan listing, irrespective of any fees paid by the Borrower to Bridge Fintech in accordance with the terms of this Clause.

    3. 5.3. It is hereby clarified that fees and charges, once paid, are non-refundable.
    4. 5.4. All payments made for the use of the Website by the Borrower shall be compulsorily in Indian Rupees.

    5. 5.5. While availing any of the payment method/s available on the Website for availing the Services, Bridge Fintech shall not be responsible for or assume any liability, whatsoever in respect of any loss or damage arising directly or indirectly to the Borrower due to:
      1. 5.5.1. Lack of authorization for any transaction(s), or

      2. 5.5.2. Exceeding the preset limit mutually agreed by the Borrower and between bank/s, or

      3. 5.5.3. Any payment issues arising out of the transaction, or

      4. 5.5.4. Rejection of transaction for any other reason(s) whatsoever.

    6. 5.6. Bridge Fintech holds the authority to temporarily/permanently suspend/terminate the Borrower Account or refuse access in case of non-payment of fees due by the Borrower to Bridge Fintech. Without limitation to the other rights and remedies available to Bridge Fintech, it also reserves the right to take legal action for the same.


  6. CONFIDENTIALITY
    As elaborated under the Privacy Policy, Bridge Fintech will keep all confidential information confidential, including the Borrower’s personal and business information, and shall not disclose it to anyone except as required by law, and shall ensure that such confidential information is protected with security measures and a degree of care that it would apply to its own confidential information. Bridge Fintech acknowledges that its employees, directors, agents and contractors shall use the confidential information only for the intended purpose for which it is provided. Bridge Fintech shall use all reasonable endeavours to ensure that its employees, directors, agents and contractors acknowledge and comply with the provisions of these Terms of confidentiality as if such person was subject to these Terms of confidentiality.


  7. LINKS TO THIRD-PARTIES' WEBSITES
    The Website may contain links and interactive functionality interacting with the websites of third parties. Bridge Fintech is not responsible for and has no liability for the functionality, actions, inactions, privacy settings, privacy policies, terms, or content of any such website. Before enabling any sharing functions to communicate with any such website or otherwise visiting any such website, Bridge Fintech strongly recommends that the Borrower reviews and understands the terms and conditions, privacy policies, settings, and information-sharing functions of each such third-party website.


  8. INDEMNIFICATION
    The Borrower shall indemnify and hold harmless Bridge Fintech, its owner, licensee, affiliates, subsidiaries, group companies (as applicable) and their respective officers, directors, agents, and employees, from any claim or demand, or actions including reasonable attorneys' fees, made by any third party or penalty imposed due to or arising out of the Borrower’s breach of these Terms, Privacy Policy and other policies, or the Borrower’s violation of any law, rules or regulations or the rights (including infringement of any intellectual property rights) of a third party.


  9. ONLY A PLATFORM
    The Borrower acknowledges and agrees that the Website is strictly a technology platform and infrastructure for connecting Borrowers and Lenders. Bridge Fintech shall not be liable for any reason whatsoever for the Services and for any transactions consummated on the Website, and shall bear no liability for the consequences to the Borrower, of the Borrower’s use of the Website. The Borrower acknowledges and agrees that he shall be solely responsible for any and all transactions facilitated on the Website through the Borrower Account.


  10. TERMINATION
    1. 10.1. Bridge Fintech, in its sole discretion, may modify, suspend, or terminate access to, all or any portion of the Website at any time for any reason including termination for breach of any of these Terms or the Privacy Policy.

    2. 10.2. The Borrower shall be entitled to terminate the Borrower’s access to the Website and the Services thereof on the Borrower’s repayment of all outstanding principal, interest, fees and charges in relation to Borrower’s loan listings on the Website.

    3. 10.3. None of the Borrower’s content shall remain accessible on the Website upon termination. This information cannot be recovered by the Borrower, once the account is terminated.

    4. 10.4. The disclaimer of warranties, the limitation of liability, and the governing law provisions shall survive any termination of these Terms.


  11. DISCLAIMER OF WARRANTIES
    THE WEBSITE AND ALL INFORMATION, CONTENT, MATERIALS AND SERVICES INCLUDED ON OR OTHERWISE MADE AVAILABLE TO THE BORROWER THROUGH THE WEBSITE (COLLECTIVELY, THE "CONTENTS") ARE PROVIDED BY BRIDGE FINTECH ON AN "AS IS," "AS AVAILABLE" BASIS, WITHOUT REPRESENTATIONS OR WARRANTIES OF ANY KIND. BRIDGE FINTECH MAKES NO REPRESENTATIONS OR WARRANTIES OF ANY KIND, EXPRESS OR IMPLIED, AS TO THE OPERATION OF THE WEBSITE, THE ACCURACY OR COMPLETENESS OF THE CONTENTS AND THE ACCURACY OF THE INFORMATION OR RECEIPT OF LOANS. BRIDGE FINTECH SHALL HAVE NO RESPONSIBILITY FOR ANY DAMAGE TO THE BORROWER’S COMPUTER SYSTEM OR LOSS OF DATA THAT RESULTS FROM THE DOWNLOAD OF ANY CONTENT, MATERIALS, DOCUMENT OR INFORMATION OR ANY OTHER LOSSES INCURRED BY THE BORROWER FOR FAILURE TO RECEIVE LOANS. THE BORROWER EXPRESSLY AGREES THAT THE USE OF THE WEBSITE IS AT THE BORROWER’S SOLE RISK. BRIDGE FINTECH WILL NOT BE LIABLE FOR ANY DAMAGES OF ANY KIND ARISING FROM THE USE OF THE WEBSITE OR THE SERVICES OR THE CONTENTS INCLUDING, WITHOUT LIMITATION, DIRECT, INDIRECT, PUNITIVE, AND CONSEQUENTIAL DAMAGES, UNLESS OTHERWISE SPECIFIED IN WRITING. TO THE FULL EXTENT PERMITTED BY LAW, BRIDGE FINTECH DISCLAIMS ANY AND ALL REPRESENTATIONS AND WARRANTIES WITH RESPECT TO THE WEBSITE AND ITS CONTENTS, WHETHER EXPRESS OR IMPLIED, INCLUDING, WITHOUT LIMITATION, WARRANTIES OF TITLE, MERCHANTABILITY, AND FITNESS FOR A PARTICULAR PURPOSE OR USE.


  12. LIMITATION OF LIABILITY
    IN NO EVENT SHALL BRIDGE FINTECH, ITS DIRECTORS, EMPLOYEES OR AGENTS, BE LIABLE FOR ANY SPECIAL, INCIDENTAL, INDIRECT OR CONSEQUENTIAL DAMAGES WHATSOEVER RESULTING FROM ANY (I) ERRORS, MISTAKES, OR INACCURACIES OF CONTENT; (II) PERSONAL INJURY OR PROPERTY DAMAGE, OF ANY NATURE WHATSOEVER, RESULTING FROM THE BORROWER’S ACCESS TO AND USE OF THE WEBSITE; (III) ANY UNAUTHORIZED ACCESS TO OR USE OF THE SECURE SERVERS AND/OR ANY AND ALL PERSONAL AND/OR BUSINESS AND/OR FINANCIAL INFORMATION STORED THEREIN; (IV) ANY INTERRUPTION OR CESSATION OF TRANSMISSION TO OR FROM THE WEBSITE; (V) ANY BUGS, VIRUSES, TROJAN HORSES, OR THE LIKE, WHICH MAY BE TRANSMITTED TO OR THROUGH THE WEBSITE BY ANY THIRD PARTY; AND/OR (VI) ANY ERRORS OR OMISSIONS IN ANY CONTENT OR FOR ANY LOSS OR DAMAGE OF ANY KIND INCURRED AS A RESULT OF THE USE OF ANY CONTENT POSTED, EMAILED, TRANSMITTED, OR OTHERWISE MADE AVAILABLE VIA THE WEBSITE, WHETHER BASED ON WARRANTY, CONTRACT, TORT, OR ANY OTHER LEGAL THEORY, AND WHETHER OR NOT BRIDGE FINTECH IS ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. SUBJECT TO THE ABOVE AND NOTWITHSTANDING ANYTHING TO THE CONTRARY CONTAINED IN THESE TERMS, THE MAXIMUM AGGREGATE LIABILITY (WHETHER IN CONTRACT, TORT (INCLUDING NEGLIGENCE) OR EQUITY) OF BRIDGE FINTECH VIS-À-VIS ANY BORROWER, REGARDLESS OF THE FORM OF CLAIM, SHALL BE LIMITED TO THE AGGREGATE OF FEES PAID BY THE BORROWER TO BRIDGE FINTECH. THE FOREGOING LIMITATIONS OF LIABILITY WILL APPLY NOTWITHSTANDING THE FAILURE OF ESSENTIAL PURPOSE OF ANY LIMITED REMEDY HEREIN.


  13. GOVERNING LAW AND DISPUTE RESOLUTION
    These Terms shall be governed by and interpreted and construed in accordance with the laws of India. The courts of Bangalore, Karnataka shall have exclusive jurisdiction over any disputes arising under these Terms.


  14. GRIEVANCE REDRESSAL MECHANISM
    In accordance with the Information Technology Act, 2000 and Rules made thereunder, the name and contact details of the Grievance Officer are provided below:

    Name: Amit More
    Address: Bridge Fintech Solutions Private Limited,
    SKS Plaza, #45, 2nd Floor, 100 Feet Road
    Kormangala, 4th Block
    Bengaluru 560095
    Cell: +91 98700 46611
    E-mail: amit@finzy.com


  15. If the Borrower wishes to make a complaint regarding any violation of the provisions of these Terms, the Borrower may send a written complaint to the Grievance Officer, who shall redress the complaint, in accordance with ‘Bridge Fintech Grievance Redressal Policy’ read with the provisions of the Information Technology Act, 2000 and Rules made thereunder.

  16. HOW TO CONTACT US
    If the Borrower has any questions or concerns about these Terms, Bridge Fintech may be contacted at support@finzy.com.

  17. MISCELLANEOUS
    1. 16.1 It is hereby clarified that the Reserve Bank of India does not accept any responsibility for the correctness of any of the statements or representations made or opinions expressed by Bridge Fintech, and does not provide any assurance for repayment of the loans lent on the Website.

    2. 16.2 It is further clarified that if Bridge Fintech ceases to carry on its activities, i.e., acting as an intermediary providing the Services via the Website or is wound up, all existing loan agreements facilitated on the Website will continue to be managed and administered in accordance with the ‘Business Continuity Plan’.

    3. 16.3 As required by the Reserve Bank of India under the P2P Regulations, Bridge Fintech has appointed Catalyst Trusteeship Limited as Trustee who shall have the ability to operate the escrow accounts for both lending and repayment of loans, and all existing loans shall therefore be managed and/or handled by the Trustee so appointed. The Borrower hereby ratifies the appointment of such Trustee.