Loan Agreement Terms & Conditions Policy

1. Standard Terms And Conditions: Loan Facility

   The Borrower may apply for a loan by submitting the duly completed Application Form(s) and Lender may agree to grant such loan (has applied a "Loan") subject to these terms and conditions ("Standard Terms") read together with the Application Form(s), Drawdown Request(s) and MITC as exchanged between the parties (together referred to as "Transaction Document"). I / We accept that the acceptance of application places no obligation on the Lender to approve the Loan.

Definitions:

"Account" means the bank account/any other relevant account where the Loan disbursement is requested and more specifically provided under the Application Form or Draw down Request.

"Application Form" means the loan application form submitted by the Borrower to the Lender for applying and availing of the Facility, together with all other information , particulars, clarifications and declarations, if any, furnished by the Borrower or any other persons from time to time in connection with the Facility.

"Availability Period" mean the period of 1(one) month from the date of sanction of the Facility (or such extended date as may be approved by the Lender, in its sole discretion).

"Drawdown Request" means a request from the Borrower in a form and manner acceptable to the Lender for seeking disbursement of Loan.

"Drawing Power" means the threshold limit(s) assessed by the Lender, in its sole discretion from time to time, which shall be within the overall sanction limit and shall determine the amount of drawdown that can be requested by the Borrower at any given time under the Facility.

"Due Date" means such date(s) on which any payment becomes due and payable under the terms of the Transaction Documents (or otherwise) as specified from time to time, by the Lender.

"Increased Costs" means a reduction in the rate of return from the Loan(s) or on the Lender's overall capital (including as a result of any reduction in the rate of return on capital brought about by more capital being required to be allocated by the Lender); any additional or increased cost including provisioning as may be required under or as may be set out in RBI regulations or any other such regulations from time to time; or a reduction of any amount due and payable under the Transaction Documents.

"Loan" means each disbursement made under the Facility.

"Tax" means any tax, Goods and Service Tax ("GST"), levy, impost, duty or other charge or withholding of a similar nature (including any penalty or interest payable in connection with any failure to pay or any delay in paying the same); and Capitalized terms not defined herein, shall have the meaning ascribed to such terms under the Application Form or Drawdown Request.

"Access Code(s)" means any authentication mode as approved, specified by the Lender including without limitation combination of username and password.

"Account" means the bank account where the Loan disbursement is requested and more specifically provided under the Loan Application Form for EMI/FMI products, and for e-voucher Loans the Borrower's mobile number and email id shall be taken into consideration for the purpose of "Account".

"Business Day" means a day (other than a Saturday or a Sunday) on which banks are open for general business in Bengaluru.

"Due Date" means such date(s) on which any payment becomes due and payable under the terms of the Transaction Documents (or otherwise)

"Facility" means the Loan applied by the Borrower and shall include a prospective Loan applied under the credit line that may be provided by the Lender to the Borrower.

"Increased Costs" means,

• Reduction in the rate of return from the Loan(s) or on the Lender's overall capital (including as a result of any reduction in the rate of return on capital brought about by more capital being required to be allocated by the Lender).
• Any additional or increased cost including provisioning as may be required under or as may be set out in the regulations of the Reserve Bank of India or any other such regulations from time to time.
• A reduction of any amount due and payable under the Transaction Documents.




"Sanctioning Authority" includes the Reserve Bank of India.

"Credit Limit" means the maximum drawdown limit granted by the Lender (at its sole discretion) to the Borrower as per this Transaction Document, which may be available to the Borrower as a revolving credit. Credit Line shall be construed as a part of the Facility and be governed under the terms of this Transaction Document.

"Prepayment Charges" The amount equivalent to the difference between New Outstanding Balance and the Existing Outstanding Balance shall be paid as prepayment charges by the Borrower in case of prepayment of an instalment/ part prepayment of the Loan. For the purpose of this definition.

"New Outstanding Balance” shall mean the Outstanding Balance remaining due under the Loan pursuant to and post prepayment of any instalment under the Loan and "Existing Outstanding Balance" shall means the Outstanding Balance which was remaining due to be paid under the Loan prior to prepayment of the relevant instalment under the Loan, as reflected under the repayment schedule provided by the Lender and " Outstanding Balance " shall mean collectively the principal, interest, compound interest, default charges/ interest, any other charges, dues and monies payable, costs and expenses, reimbursable, as outstanding from time to time and whether any of them are due or not in relation to the Loan.

The Lender at it's sole discretion may agree to grant the Facility to the Borrower on the basis of the Application Form, KYC, Credit Reports and Transaction Documents.

The Lender shall not be obliged to provide any written acceptance to Drawdown Request of the Borrower and may do so orally or by disbursement of a Loan (or a part thereof). Grant of the Facility and acceptance of the Borrower's request shall be at the absolute discretion of the Lender and the Lender shall not be required to notify any rejection of the Application Form to the Borrower.

The Borrower may request for disbursement only if (a) no Event of Default or potential event of default has occurred or is continuing, (b) Drawdown Request during the Availability Period for an amount not exceeding the Drawing Power has been submitted by the Borrower and (c) no material adverse event in the opinion of the Lender has occurred. The Borrower's request for the Facility and each Drawdown Request shall be irrevocable unless rejected by the Lender. Any such disbursement made by the Lender into the Account (whether in the name of the Borrower or any third party) shall be a Loan under this Facility. Lender shall not be responsible for any dispute between Borrower and any such third party. In the event that the Lender accepts the Borrower's request for the Facility and sanctions the Facility, the Lender may, subject to satisfaction of all the conditions precedents, disburse Loan(s) into the Account and the Borrower confirms that the Loan shall be utilized only for the Purpose and subject to the terms under the Transaction Documents. The Lender shall not be required to notify any rejection of the Application Form to the Borrower.

In case of an Event of Default, Borrower will, to the extent permitted by law, be required to pay interest (before as well as after judgment/award) on the overdue amount to the other party on demand, for the period from (and including) the original Due Date for payment to (but excluding) the date of actual payment, at the Additional Rate of Interest.

The Borrower acknowledges and agrees that the rates of interest specified in the Transaction Documents are reasonable and that they represent genuine pre-estimates of the loss expected to be incurred by the Lender in the event of non-payment by the Borrower; and the rate of interest payable by the Borrower shall be subject to change prospectively based on the monetary policies as may be changed by the Reserve Bank of India ("RBI") and other factors impacting the interest rates. The Borrower shall bear all Taxes in connection with the Transaction Documents (as applicable). If any such cost is incurred or paid by the Lender, Borrower shall forthwith reimburse the same. In the event of the Borrower failing to pay the monies referred to above, the Lender shall be at liberty (but shall not be obliged) o pay the same by directly debiting the account of the Borrower or otherwise subject to reimbursement of all costs I incurred by the Lender.

The Borrower shall make each payment as per Due Date. If the respective Due Date is not a Business Day, then the Borrower agrees that the payment shall be made on the preceding Business Day. The Borrower shall not prepay the outstanding principal amounts of any of the Loan(s) in full or in part, before the Due Dates, except with the prior written consent of the Lender and subject to payment of pre-payment charges as specified in the Transaction Documents or by the Lender., All payments shall be made in freely transferable funds without any set off, counter claim or any deduction (except to the extent that the Borrower is required by law to make payment subject to any Tax deduction at source under the applicable law). In case any such deductions are made the Borrower agrees to deliver to the Lender, within the statutory time frame prescribed under the law or 20 (twenty) days of the payment being made, whichever is earlier, satisfactory evidence that the Tax has been deducted at source and duly remitted to the appropriate authority.

Notwithstanding anything to the contrary, the Lender may at any time, cancel the undisbursed portion of the Facility and can also recall any or all portion of the disbursed Loan on demand in its sole discretion, whether during an Event of Default or otherwise. Upon such recall, the Loan and other amounts stipulated by the Lender shall be payable forth with.

The repayment schedule maybe in the form of amortization of Facility wherein the principal and interest is repaid over the Tenure of the Facility by way of installments (which may or may not be equal).

The Borrower makes the representations and warranties hereunder to the Lender for the entire tenure of the Facility, repeated on each day until the arrangement is active, in reliance of which the Lender may grant the Facility:


1. The Borrower has the competence to enter into and perform under the Transaction Documents and to carry on its business and operations as it is being or is proposed to be conducted.
2. The Facility once granted by the Lender under Transaction Documents constitutes legal, valid and binding obligations of the Borrower enforceable in accordance with their respective terms.
3. The Borrower is in compliance with all laws (including laws relating to environment, social and labour, Tax, anti-corruption and anti-money laundering, anti-bribery) applicable to the Parties.
4. The Transaction Documents, do not and will not conflict with any law; or (b) with any document which is binding upon the Borrower or any of its asset.
5. The Borrower has a valid agreement with the Portal has not blacklisted/ delisted/ suspended or otherwise terminated such arrangement.
   Except to the extent disclosed to the Lender, no litigation, arbitration, administrative or other proceedings nor has the Borrower been declared to be a willful defaulter or a non-cooperative Borrower.
6. All information communicated to or supplied by or on behalf of the Borrower to the Lender, are true and fair and correct and complete in all respects as on the date on which it was communicated or supplied; and (b) Nothing has occurred since the date of communication or supply of any information to the Lender which renders such information untrue or misleading in any respect.
7. The Borrower shall provide and complete all payment mandates, as and when requested by the Lender, to the Lender or to the Delegate.
8. The Borrower shall not use the fund for purchase of gold in any form or bribe any person. The Borrower shall ensure that the obligations under the Transaction Documents shall at least rank pari passu with all its unsecured and unsubordinated obligations.

The Lender may also delegate to such person(s) the right and authority to perform and execute all such acts, deeds, matters and things connected herewith, or incidental thereto, as the Lender may deem fit. The Borrower recognizes, accepts and consents to such delegation. The Borrower shall ensure that all payment mandates including, electronic clearing service (ECS) or national automated clearing house (NACH) mandate, if any, provided to the Lender or to the Delegate, are honoured at all times and such mandates are not altered or amended without prior permission of the Lender.

The Borrower shall, within three (3) Business Days of demand by the Lender, pay the amount of any Increased Costs incurred by the Lender as a result.

1. The introduction of or any change in any law or regulation.
2. Compliance with any law or regulation made before or after the date of relevant Loan.
3. In the event of the Lender being called upon to pay any additional amount by its lending agency in terms of their respective financing agreements).
4. On account of factors beyond the control of the Lender.

The Borrower shall, indemnify and keep the Lender harmless against any cost, loss, damages, expenses, liability (including without limitation, liability under Tax laws whether in form of Tax, interest, penalty or otherwise or third-party claims (including legal fees) incurred by the Lender arising out of or in connection with the Facility and /or due to any breach under the Transaction Documents. The Borrower shall promptly notify the Lender of any breach of any representations, warranties, covenants, undertakings or any other terms of these Standard Terms together with the steps taken to remedy it. Upon the breach being reported, the Lender may, without prejudice to any of its rights under law or contract, in its sole discretion recommend implementation of corrective measures to remedy such breach in a form, manner and time as may be necessary or desirable to the Lender.

Not with standing any of the provisions of the Indian Contract Act, 1872 or any other applicable law or anything contained in the Transaction Documents, the amounts repaid by the Borrower shall be appropriated first towards cost, charges and expenses and other monies; secondly towards interest on cost charges and expenses and other monies; thirdly towards interest on the delayed payments; fourthly towards interest payable under the Transaction Documents and lastly towards repayment of any principal amounts. The Borrower shall from time to time, if required by the Lender, provide security, in a form and manner satisfactory to the Lender.

The Lender reserves the unconditional right to cancel the limits sanctioned without giving any prior notice to the Borrower. The Parties further agree that The Lender shall have the right to disclose or publish any information regarding the Borrower or guarantor(s) (if any) and any information and documents that they might possess from time to time to: (a) any of its branches or with other banks, financial institutions, Credit Information Bureau of India Limited, credit reference or rating agencies/bureaus or other individuals/entities either in response to their credit inquiries directed to the Lender or in the event of the Borrower not complying with any terms and conditions herein or otherwise and (b) the Reserve Bank of India and/or any other statutory authority or official of the Government of India or that of any other state.

Events of Default: The Borrower shall be deemed to have committed an act of default on the occurrence of inter-alia but not limited to, any one or more of the following events (hereinafter referred to as "Event of Default").Default has occurred in the payment of any monies in respect of the Facility on the due dates (whether at stated Due Date, by acceleration or otherwise) under the terms of the Transaction Documents. Default (other than a payment default) has occurred in the performance of any covenant, condition, agreement or obligation on the part of the Borrower under the Transaction Documents and such default has continued for a period of 10 (ten) days after notice in writing thereof has been given to the Borrower or as the case may be, to such other person, by the Lender (except where the Lender is of the opinion that such default is incapable of remedy, in which event, no notice shall be required). Breach of any representation, warranty, declaration or confirmation made or deemed to be made under the Transaction Documents. Death of the Borrower or termination of the agreement between the Borrower and the Portal or blacklisting from the Portal or the Security provided by the Borrower hereunder is under jeopardy. The Borrower has, or there is a reasonable apprehension that the Borrower would, voluntarily or involuntarily become the subject of proceedings under insolvency law. Borrower is unable or has admitted in writing its inability to pay any of its indebtedness as and when they mature or become due upon becoming aware of the default the steps. An event of default howsoever described occurs under any agreement or any indebtedness of the Borrower becomes, or becomes capable at such time of being declared, due and payable under such agreements before it would otherwise have been due and payable.

Upon occurrence of any Event of Default(s) the Lender shall be entitled at its absolute discretion to inter alia call upon the Borrower to pay forthwith the outstanding balance of the Facility together with interest and all sums payable by the Borrower to the Lender; and call upon the Borrower to pay all claims, costs, losses and expenses that may be incurred by the Lender because of any act or default on the part of the Borrower under the Transaction Documents.

In the event, where the Borrower fails to provide necessary GST related details, the Lender shall consider the Borrower as unregistered under the provisions of GST act and proceed accordingly. If there are any changes or modifications in GST related details of the Borrower, the Borrower shall intimate to the Lender of such changes. On the date of receipt of such request, the Lender shall give a prospective effect to such request for changes made by the Borrower. The Lender shall not be held responsible for any non-receipt/short-receipt of GST credit if the Borrower or any person on behalf of the Borrower. In the event the Lender issues a credit note in relation to charges levied, the Borrower shall reverse the GST input Tax credit availed, if any, within the month in which the discrepancy is communicated. If the same is not rectified (for any reasons whatsoever), which results in any additional liability (whether in form of Tax, interest, penalty or otherwise) for the Lender, the Borrower shall promptly pay and/or reimburse such amount to the Lender.

Notice: Any notice or request to be given or made by a party to the other shall be in writing and email communication.

Arbitration: Any and all claims and disputes arising out of or in connection with the Transaction Documents or its performance shall be governed as per Laws of India and settled by arbitration by a single arbitrator as per the Arbitration and Conciliation Act, 1996 and the venue of arbitration shall be Bangalore.

The Lender may also delegate to such person(s) the right and authority to perform and execute all such acts, deeds, matters and things connected herewith, or incidental thereto, as the Lender may deem fit. The Borrower recognizes, accepts and consents to such delegation. The Borrower, (for its ease of operation and convenience) requests to the Lender that below mentioned functions may be performed through the Delegate (whether through its technology solutions or otherwise), which the Lender may in its sole discretion choose to allow: (i) transmission of the Drawdown Request from the Borrower to the Lender (ii) collection of certain deeds, documents, instrument or information and (iii) collection towards repayments in a form and manner agreeable by the Lender. The Parties further agree that Borrower shall promptly provide upon request of the Lender any further document/information as may be required by the Lender, including but not limited to the end user certificate and shall only use the Facility for the Purpose.

Assignment Of Right:

The Lender shall at any time, without any consent of or notice to the Borrower be entitled to securities, sell, assign, discount or transfer all or any part of the Lender’s right and obligations under this Agreement or other Loan Documents, to any person(s) and in such manner and on such terms as the Lender may decide. The Borrower shall not be entitled to directly or indirectly assign or in any manner transfer, whether in whole or part, any rights or obligation under this Agreement and other Loan Documents.

The Borrower shall not assign or transfer all or any of its rights, benefits or obligations under the Transaction Documents provided however that the Lender may, at any time, assign or transfer all or any of its rights, benefits and obligations under the Transaction Documents.

In case of default committed by the Borrower, the Lender may also disclose and publish the information about the Borrower and its default with the Lender in the public domain including through social media or share the same with any government or regulatory authority or the credit rating agencies within India.

The Borrower acknowledges that any contract or arrangement between the Lender and any third parties are independent of these Standard Terms.

The Lender reserves the right to amend the terms of these Standard Terms (except amendment to Rate of Interest) by intimating the same to the Borrower.

IF any loan becomes overdue by more than 30 days, company reserves the right to charge compound interest for every subsequent 30 days delay.

Others

Online Transactions:

1. For ease of operation of the Borrower, Borrower shall have the option of applying for further facilities provided by the Lender using online secure platforms as may be specified by the Lender (hereinafter referred to as "Online Facility"). The Facility shall be extended to the to the Borrower complying with the Lender's credit parameters and submitting all documents/information as may be required by Lender in such form as may be specified by the Lender from time to time. The Lender may in its sole discretion reject the application for the Facility/loan by the Borrower.
2. It shall be the sole responsibility of the Borrower to ensure that the Access Codes are not compromised or shared with any unauthorized users.
3. The Borrower expressly agrees and acknowledges to have read and understood the terms applicable for usage of the Online Facility and be bound by such terms and conditions (as amended by the Lender from time to time) at all times during the tenure of such Facility.
4. The Lender shall have no obligation to verify the authenticity of any transaction/instruction received or purported to have been received from the Borrower through the Online Facility or purporting to have been sent by the Borrower other than by means of verification of the Access Codes.
5. All the records of the Lender with respect to the online request for facility arising out of the use of the Online Facility shall be conclusive proof of the genuineness and accuracy of the transaction. While the Lender and its affiliates shall endeavour to carry out the instructions promptly, they shall not be responsible for any delay in carrying on the instructions due to any reason whatsoever, including due to failure of operational systems or any requirement of law.
6. Borrower can check the availability of a pre-approved offer that may be made by the Lender through Online Facility. Any pre-approved offer by the Lender does not constitute a grant of the Facility to the Borrower and shall be subject to the terms as may be specified by Lender from time to time.
7. Borrower acknowledges and accepts that the Lender may permit/allow anybody quoting the correct Access Codes and other details to conduct the type of operations which are permitted under the Online Facility.

Notices:

Any notice or request to be given or made by a party to the other shall be in writing. Such notice or request shall be deemed to have been duly received by the party to whom it is addressed if it is given or made at the address specified below or at such other address as may be agreed from time to time.
For the Lender: Second Floor, Envision Technology Center, 119, Road No. 3, Phase-1, Vijayanagar, EPIP Zone, Whitefield, Bengaluru, Karnataka 560066.

For the Borrower: The address as stated in the Application Form. The Lender may also agree to act on the basis of a request made via registered email ID of the Borrower.

Provided however that a notice or communication to any Borrower shall be deemed to be a notice or communication to other Borrower(s).

Any and all claims and disputes arising out of or in connection with the Transaction Documents or its performance shall be subject to the laws of India and shall be settled by arbitration by a single arbitrator to be appointed by the Lender. The seat of arbitration shall be in Bengaluruand the language, English. The arbitration shall be conducted under the provisions of the Arbitration and Conciliation Act, 1996 or any statutory modification or any amendments or re-enactment thereof for the time being in force and the award of such arbitrator shall be final and binding upon the Borrower and the Lender. Subject to the foregoing, the courts of Bengalurushall have the exclusive jurisdiction on all claims or disputes arising under any of the Transaction Document.

The Lender shall, without prejudice to any of its specific rights under any other agreements with the Borrower, at its sole discretion, be at liberty to apply any other money, amounts, securities and other property of the Borrower (whether singly or jointly with another or others) in possession of the Lender or any of its subsidiary/ affiliate/ associate company in or towards payment of the dues under Facility granted under the Transaction Documents. The borrower can avail Online Facility on the Platform.

The Lender shall be entitled at the sole risk and cost of the Borrower to engage one or more person(s) to collect the Borrower's dues and shall further be entitled to share such information, facts and figures pertaining to the Borrower as the Lender deems fit. The Lender may also delegate to such person(s) the right and authority to perform and execute all such acts, deeds, matters and things connected herewith, or incidental thereto, as the Lender may deems fit. The Borrower recognizes, accepts and consents to such delegation.

The Lender shall have the right to disclose or publish any information regarding the Borrower or guarantor(s) (if any) and any information and documents that they might possess from time to time to:

• Any of its branches or with other banks, financial institutions, TransUnion CIBIL Limited, credit reference or rating agencies/bureaus or other individuals/entities either in response to their credit inquiries directed to the Lender or in the event of the Borrower not complying with any terms and conditions herein or otherwise.
• The Reserve Bank of India and/or any other statutory authority or official of the Government of India or that of any other state.
• The Borrower shall not assign or transfer all or any of its rights, benefits or obligations under the Transaction Documents. Borrower expressly acknowledges and agrees that Lender may, at any time, without requiring the prior consent from the Borrower or any other person and without giving notice to the Borrower or any other person, sell, transfer, assign, securitise, novate, part with any or all of its receivables arising in relation to the Facility and its rights and benefits and obligations (if any) under all or any of the Transaction Documents, to any third party ( "Assignee" ), in any manner whatsoever including by direct assignment or by the process of securitisation. Borrower irrevocably and unconditionally confirms that it shall continue to be bound by the terms herein and other Transaction Documents notwithstanding such transfer or assignment by Lender and that the Assignee shall acquire an interest in the Transaction Documents forth with.
• The Borrower acknowledges that the Lender has or may have business and other transactions with third parties (including those who are in the business of manufacturing, supplying or otherwise dealing with any asset being financed by the proceeds of this Facility) and hereby waives any conflict of interest that it may have on such an arrangement. Further, the Borrower acknowledges that any contract or arrangement between the Lender and such third parties are independent of these Standard Terms.
• The Lender reserves the right to amend the terms of these Standard Terms (except amendment to Rate of Interest) by intimating the same to the Borrower. Rate of Interest shall not be changed without prior consent of the Borrower.
• The Lender shall be entitled to set-off all monies, securities, deposits and other assets and properties belonging to the Borrowers and/or the Guarantor(s) in the possession of the Lender, whether in, or on any account of the Lender or otherwise, whether held singly or jointly by the Borrowers with others and may appropriate the same.
• GST: All the charges and fees mentioned in this Agreement shall be subject to applicable GST as per applicable GST laws. Any Borrower who is not registered under the Goods and Service Tax Act (GST) shall not be eligible to claim input of GST paid on charges levied. In case the Borrower is registered under Goods and Service Tax Act and want to avail GST input, then please connect with the Platform.
• For the purpose of this clause, the term 'GST' or 'GST law' shall include the Central Goods and Services Tax ('CGST'), the State Goods and Services Tax ('SGST'), Integrated Goods and Services Tax ('IGST'), Union Territory Goods and Services Tax ('UTGST') and any other taxes levied under the GST related legislations in India as may be applicable. The term 'GST legislation/s' should be accordingly interpreted.

Grievance Redressal Mechanism of the Platform

Level 1:

A customer can escalate the matter to vvpl.compliance@vaibhav-vyapaar.com / grievance@laonfront.in or 6366828598 in case he/she is not satisfied with the response from the Customer Care team. Depending on the query/dispute/grievance, a written reply/resolution will be sent to the customer within 7 business days at his/her registered email id with the Company.

Level 2:

If the customer is not satisfied with the resolution received from above channels, or if the customer does not hear from us in fourteen (14) days, the customer can address the grievance to the below address for escalation:

Name: Mr. Satya Mallidi,
Head of Operation,
E-mail id: satya@vaibhav-vyapaar.com
Address: Second Floor, Envision Technology Center, 119, Road No. 3, Phase-1, Vijayanagar, EPIP Zone, Whitefield, Bengaluru, Karnataka 560066.

Level 3:

If the complaint/dispute is not redressed within a period of one month from date of its receipt, the customer may appeal to:

Deputy General Manager,
Department of Non-Banking Supervision,
Reserve Bank of India,
15, Netaji Subhas Road,
Kolkata- 700 001.
Email Id: cms.odtkolkata@rbi.org.in

Complaints to Ombudsman In case the Borrower does not receive a response from the Grievance Redressal Official or the Nodal Officer within one month from the date of making a representation to the Lender, or if the Borrower is not satisfied with the response so received, a complaint may be made in accordance with the 'The Ombudsman Scheme for Non-Banking Financial Companies, 2018' ("Ombudsman Scheme" ) to the Ombudsman in whose jurisdiction the office of the Lender complained against, is located. For contact details of the Ombudsman and for salient features of the Ombudsman Scheme, Fair Practices Code adopted by the Company and available on our website https://faceofindia.org. A copy of the Ombudsman Scheme is available on the website of the Reserve Bank of India at www.rbi.org.in and also with our Nodal

MOST IMPORTANT TERMS AND CONDITIONS (MITC)

1. We refer to the application form dated __2021-08-18 18:50:01 IST__ ("Application Form") for grant of the Facility described below.
2. The Borrower acknowledges and confirms that the information mentioned in Online Drawdown Request which has been requested by the Borrower through LoanFront using the Borrower's account are the most important terms and conditions in the application for the Facility.
3. The Borrower understands that the Lender has adopted risk based pricing, which is arrived by taking into account, broad parameters like the customers financial and credit profile. Applicable interest rates are arrived at taking into account the prevailing market rates at the time of sanctioning. The Borrower acknowledges and confirms having received a copy of each Transaction Document and agrees that this letter is a Transaction Document.

Collection Policy

The following are important collection policies of the company.

1. If any of the EMI repayment is delayed by more than 30 days then the loan is considered at "Default"
2. After the due date if the EMI payment is not received, our collection agents will reach you through telephone to remind the same.
3. In case of delay in repayment, If the customer is not reachable via telephone or email communication to our collection agents for more than 15 days then our team reserves the right to try to reach you via the reference numbers shared in the Loan application.
4. After overdue of 45 days of the Loan EMI, the NBFC reserves the right to send legal notice to the customer indicating the overall loan recall and to pay the dues immediately.
5. If the customer is not contactable or deliberately not making the payment then NBFC reserves the right to report the loan as "Wilful default" to credit bureaus.