Terms & Conditions
These terms and conditions (“Terms & Conditions”) govern your use of the website – https://www.loanfront.in" (“Website”) and mobile application –LoanFront” (“App”) (Website and/or App shall collectively be referred to as “Platform”) owned and operated by Vaibhav Vyapaar Private Limited with its registered office at 18, Rabindra Sarani, Poddar Court, 3rd Floor, Gate No.2, office Room No. 325, Kolkata – 700001, West Bengal. and Corporate office at No. 1, Ground Floor , Old Airport Road, Domlur Layout, Near Domlur Post Office , Bengaluru- Karnataka 560071, India (hereinafter referred to as “Us” / “We” / “Vaibhav Vyapaar Private Limited” / “VVPL”).
As a user ("User" or "You") of the Platform, You understand that LoanFront is a digital lending platform providing loans (Serviced by Vaibhav Vyapaar Private Limited and other NBFC partners). LoanFront platform provides access between multiple Users in the form of consumers, financial institutions, data partners and other partner lenders, service providers etc. with a view to facilitate lending and borrowing activities.
Please read these Terms & Conditions carefully before accessing or using our Platform or any part thereof. By accessing or using any part of the Platform, You agree to be bound by these Terms & Conditions. If You do not agree to all the terms and conditions, then YOU MAY NOT ACCESS THE PLATFORM OR USE ANY SERVICES PROVIDED BY US.
These Terms and Conditions form a legal and binding agreement between the User and Us and is made pursuant to the terms of the Information Technology Act, 2000.
The Platform/App provides access to an online technology platform bringing together consumers, financial institutions, data partners and other partners. Vaibhav Vyapaar Private Limited is an NBFC - Investment and Credit Company registered with the Reserve Bank of India and holds license to engage in activities relating to lending and investment. Vaibhav Vyapaar Private Limited is not a deposit taking company or a chit fund or a company offering any investment schemes as per the rules and regulations for the time being in force in India.
LoanFront is a digital platform that acts as an access between Vaibhav Vyapaar Private Limited and users in need of borrowings. The final decision as regards lending and borrowing is subject to the choice of the respective Users in their respective capacities as borrower or the NBFC (https://vaibhav-vyapaar.com/ ) on the LoanFront platform..
In the event You wish to avail any of the products displayed on the Platform, You will be required to provide certain information.
- Facilitating provision of small term loans to Users through its NBFC -Vaibhav Vyapaar Private Limited.
- Assisting its Users to obtain their credit report through authorized agents partnered with Vaibhav Vyapaar Private Limited. Vaibhav Vyapaar Private Limited will monitor and update the credit report obtained by the customer through the use of the Platform as and when it receives such report from the authorized agents.
- Provision support to the Users in verifying the financial capabilities of Users.
For the provision of the above-mentioned Services, LoanFront will be using and sharing the information of the User with multiple financial institutions and other parties, as may be required for the purpose mentioned above and LoanFront shall also run multiple credit checks to be able to get the best available offers to suit the needs of the Users.
Do Not Disturb
In the event You have registered Your phone number on the ‘Do Not Disturb’ registers with Your network provider, You shall ensure to take all steps to enable the Company’s representative’s to contact You via phone to provide details about different financial products and You shall ensure that such calls received by You are pursuant to You providing Us with information and You shall not register a compliant with the relevant authorities for the same.
The User of this Website unequivocally declares and agrees that in case of an individual, the User is a natural / legal person who has attained the age of at least 21 years(Twenty One Years) and is legally allowed to enter into a contract in India. The User is allowed to utilize the Services in accordance with these Terms & Conditions. If the User violates any of these Terms & Conditions, or otherwise violates an agreement entered into through the medium of the Website / App, LoanFront may terminate the User’s membership, delete his/her profile and any content or information posted online by the User on the Platform or prohibit the User from using or accessing the Platform at any time in its sole discretion, with or without notice, including without limitation if LoanFront believes that User is under the age of 21 (Twenty One) years.
3. ACCEPTANCE OF TERMS AND CONDITIONS
As a User of this Platform, You have agreed to the Terms & Conditions provided hereunder or anywhere else on this Platform including but not limited to disclaimers on this Platform.
We reserve the right, at its sole discretion, to change, modify, add or remove portions of these Terms & Conditions, at any time without any prior written notice to the User. It is the User’s responsibility to review these Terms & Conditions periodically for any updates/ changes. User’s continued use of the App or Website following the modification of these Terms and Conditions will imply the acceptance by the User of the revisions.
4. YOUR ACCOUNT
If You wish to use the Platform, You are required to maintain an account on the Website or App and will be required to furnish certain information and details, including Your name, email id, contact number and any other information deemed necessary by Vaibhav Vyapaar Private Limited for the purpose of accepting your eligibility for the financial products offered on our Platform through our digital lending application-LoanFront.
You are responsible for maintaining the confidentiality and security of Your account, password/OTP, activities that occur in or through Your account and for restricting access to Your computer/mobile to prevent unauthorized access to Your account. You agree to accept responsibility for all activities that occur under Your account or password/OTP. You should take all necessary steps to ensure that the password/OTP is kept confidential and secure and should inform us immediately if You have any reason to believe that Your password/OTP has become known to anyone else, or if the password/OTP is being, or is likely to be, used in an unauthorized manner. Please ensure that the details You provide Us with are true, correct, accurate and complete. Upon LoanFront gaining knowledge or having any reasonable suspicion that the information provided by you is wrong, inaccurate or incorrect, LoanFront shall immediately terminate your account without any notice to You in this regard. In the event of any changes to the information shared by You at the time of registering Yourself on the Platform, You shall be responsible for forthwith notifying the said changes to us.
6. LICENSE AND ACCESS
LoanFront grants you a limited, non-transferable and revocable license to access and use the Platform or any part thereof for availing the Services, but not to download any material from it (other than page caching) or modify it, or any portion of it, except with express consent of LoanFront and / or its affiliates, as may be applicable. Any unauthorized access to the Platform (or any part thereof) or any networks, servers or computer systems connected to Platform and any attempt to modify, adapt, translate or reverse engineer any part of the Platform or re-format or frame any portion of the pages of the Platform, save to the extent expressly permitted by these Terms & Conditions, is not permitted.
This license is non-transferable and does not permit any resale or commercial use of this Platform or its contents; any downloading or copying of account information for the benefit of anyone other than Your use; or any use of data mining, robots, or similar data gathering and extraction tools. The Platform or any portion of the Platform (including but not limited to any copyrighted material, trademarks, or other proprietary information) may not be reproduced, duplicated, copied, sold, resold, visited, distributed or otherwise exploited for any commercial purpose without express written consent of LoanFront and/or Vaibhav Vyapaar Private Limited and / or its affiliates, as may be applicable. Any unauthorized use of the Platform shall terminate the permission or revoke the license granted by LoanFront and/or Vaibhav Vyapaar Private Limited.
7. MONITORING OF THE PLATFORM AND YOUR ACCOUNT
Vaibhav Vyapaar Private Limited always has the right and liberty to monitor the content of the Platform or any part thereof which shall include information provided in Your account. The monitoring of the Platform is important to determine the veracity of the information provided by You and that every User remains in consonance with the Terms & Conditions provided herein. Subject to the Terms & Conditions mentioned herein, Vaibhav Vyapaar Private Limited shall also have the liberty to remove any objectionable content which is in contravention of the Terms & Conditions or any applicable laws in force in India or share such information with any governmental authority as per procedures laid down by the law for the time being in force in India.
8. SERVICE SUSPENSION
LoanFront may wish to stop providing the Services and may terminate use of it at any time without giving notice of termination to You. Unless LoanFront informs the User otherwise, upon any termination, (a) the rights and licenses granted to You in these Terms and Conditions will end and (b) User must stop using the Platform or any part thereof forthwith. LoanFront reserves the right to suspend or cease providing any Service and shall have no liability or responsibility to the User in any manner whatsoever.
9. PROHIBITED USES
In addition to other prohibitions as set forth in the Terms & Conditions, You are prohibited from using the Platform: (a) for any unlawful purpose; (b) to solicit others to perform or participate in any unlawful acts; (c) to violate any international, federal, provincial or state regulations, rules, laws, or local ordinances; (d) to infringe upon or violate our intellectual property rights or the intellectual property rights of others; (e) to harass, abuse, insult, harm, defame, slander, disparage, intimidate, or discriminate based on gender, sexual orientation, religion, ethnicity, race, age, national origin, or disability; (f) to submit false or misleading information; (g) to upload or transmit viruses or any other type of malicious code that will or may be used in any way that will affect the functionality or operation of the Service or of any related website, other websites, or the Internet; (h) to collect or track the personal information of others; (i) to spam, phish, pharm, pretext, spider, crawl, or scrape; (j) for any obscene or immoral purpose; or (k) to interfere with or circumvent the security features of the Service or any related website, other websites, or the Internet. We reserve the right to terminate Your use of the Service or any related website for violating any of the prohibited uses.
10. LIMITATION OF LIABILITY AND DISCLAIMER OF WARRANTIES
Notwithstanding anything to the contrary contained herein, neither Vaibhav Vyapaar Private Limited nor its affiliated companies, subsidiaries, officers, directors, employees, partners or any related party shall have any liability to You or to any third party for any indirect, incidental, special or consequential damages or any loss of revenue or profits arising under or relating to these Terms & Conditions. To the maximum extent permitted by law, You waive, release, discharge and hold harmless Vaibhav Vyapaar Private Limited, its affiliated and subsidiary companies, and each of their directors, officers, employees, partners, and agents, from any and all claims, losses, damages, liabilities, expenses and causes of action arising out of Your use of the Platform / Website / App.
As a User, You also acknowledge that LoanFront has maintained and carried out all possible checks and balances to assure the credibility of the Users as listed on the Platform. The information provided on the Website / App is based on the information that is provided to LoanFront by its Users. In case the User does not disclose any information to LoanFront, and the same is not found out at the first instance by LoanFront, LoanFront shall not be responsible for any claims or liabilities.
LoanFront in any event is not responsible for any default in return of money that is borrowed from the financial partners and the financial partners shall have the exclusive right to initiate proceedings against the defaulter borrower. LoanFront shall to the best of its abilities aid the concerned User in terms of provision of information to initiate any legal proceedings. However, LoanFront shall not be responsible for any default on behalf of the User.
LoanFront is merely a digital lending platform and the User is entitled to conduct its own diligence before taking any steps to initiate the processes outlined on the Platform.
You agree to indemnify, save, and hold Vaibhav Vyapaar Private Limited, its affiliates, contractors, employees, officers, directors, agents and its third party associates, licensors, and partners harmless from any and all claims, demands, losses, damages, and liabilities, costs and expenses, including without limitation legal fees and expenses, arising out of or related to Your use or misuse of the Services or of the Website or App or Platform, any violation by You of these Terms & Conditions, or any breach of the representations, warranties, and covenants made by You herein or Your infringement of any intellectual property or other right of any person or entity, or as a result of any threatening, libelous, obscene, harassing or offensive material posted/ transmitted by You on the Website / App. LoanFront reserves the right, at Your expense, to assume the exclusive defense and control of any matter for which You are required to indemnify LoanFront, including rights to settle, and You agree to cooperate with LoanFronts’ defense and settlement of these claims. LoanFront will use reasonable efforts to notify you of any claim, action, or proceeding brought by a third party that is subject to the foregoing indemnification upon becoming aware of it. This paragraph shall survive termination of this Terms & Conditions.
12. ADVERTISERS/ THIRD PARTY LINKS ON THE PLATFORM
Vaibhav Vyapaar Private Limited accepts no responsibility for advertisements contained within the Platform or any part thereof. Vaibhav Vyapaar Private Limited has no control over and accepts no responsibility for the content of any website or mobile application to which a link from the Platform or any part thereof exists. Such linked websites and mobile applications are provided “as is” for User’s convenience only with no warranty, express or implied, for the information provided within them or the veracity thereof.
13. USER COMMENTS, FEEDBACK AND OTHER SUBMISSIONS
If, at LoanFront’s request, you send certain specific submissions (for example contest entries) or without a request from us, you send creative ideas, suggestions, proposals, plans, or other materials, whether online, by email, by postal mail, or otherwise (collectively, 'comments'), You agree that We may, at any time, without restriction, edit, copy, publish, distribute, translate and otherwise use in any medium any comments that You forward to Us. We are and shall be under no obligation (a) to maintain any comments in confidence; (b) to pay compensation for any comments or (c) to respond to any comments.
You agree that your comments will not violate any right of any third-party, including copyright, trademark, privacy, personality or other personal or proprietary right. You further agree that Your comments will not contain libelous or otherwise unlawful, abusive or obscene material, or contain any computer virus or other malware that could in any way affect the operation of the Service or any related website. You may not use a false e-mail address, pretend to be someone other than Yourself, or otherwise mislead us or third-parties as to the origin of any comments. You are solely responsible for any comments You make and their accuracy. We take no responsibility and assume no liability for any comments posted by You or any third-party.
You are licensing to LoanFront and/or Vaibhav Vyapaar Private Limited and its service providers, any information, data, passwords, materials or other content (collectively, “Content”) You provide through or to the Service. Company and service provider of Company may use, modify, display, distribute and create new material using such Content to provide the Service to You. We may also use, sell, license, reproduce, distribute and disclose aggregate, non-personally identifiable information that is derived through Your use of the Service. By submitting Content, You automatically agree, or promise that the owner of such Content has expressly agreed that, without any particular time limit, and without the payment of any fees, Vaibhav Vyapaar Private limited is the company that disburses loan and may use the Content for the purposes set out above. As between Vaibhav Vyapaar Private Limited and third-party service provider, Company owns Your confidential account information.
You acknowledge that LoanFront is a platform bringing Users together and that the LoanFront is not engaged in either grant of loan or borrowing any money or assistance for any financial products from any member using the LoanFront Platform. You acknowledge that the use of the financial products is entirely based on the negotiations between the Users and third party and neither LoanFront nor its affiliates, contractors, employees, officers, directors, agents and their third-party associates, licensors and partners have any interest with regard to any financial products assistance procured by or to a registered User. You acknowledge that LoanFront will not be responsible for any claim or damage in case of use of the financial products. LoanFront in no manner warrants or guarantees the performance of a third-party service provider that is providing services through the App. You acknowledge that LoanFront in no manner guarantees that the Users have provided all the information on this App which is true and correct including his address, phone numbers etc. You acknowledge that it is Your responsibility to verify the information about the person on the Platform and LoanFront is in no manner liable if the information provided on this App is untrue or incorrect. You acknowledge that LoanFront is in no manner responsible for any claim of money or damages in the event one person fails to either grant loan or a person fails to repay the loan or misrepresents his financial status or commits a fraud or cheating or any other such illegal act.
15. CONSUMER CONSENT (For CRIF)
I do hereby give my free consent and authorize Vaibhav Vyapaar Private Limited by providing my personal information to obtain my Credit Information Report and Credit Score from CRIF High Mark from time to time for the purpose of lending and onboarding me onto the "LoanFront" app, a digital lending platform and not for any other purpose. I hereby unconditionally consent to and instruct CRIF High Mark to provide my Credit Information to Vaibhav Vyapaar Private Limited. I also acknowledge that I shall not raise any claim or hold liable CRIF High Mark in relation to my Credit Information Report and Credit Score provided or to be provided by CRIF High Mark to Vaibhav Vyapaar Private Limited. I understand that I shall have the option to opt out/unsubscribe from the service.
16. CONSUMER CONSENT (For EQUIFAX)
I do hereby give my free consent and authorize Vaibhav Vyapaar Private Limited by providing my personal information to obtain my Credit Information Report and Credit Score from EQUIFAX from time to time for the purpose of lending and onboarding me onto the "LoanFront" app, a digital lending platform and not for any other purpose. I hereby unconditionally consent to and instruct EQUIFAX to provide my Credit Information to Vaibhav Vyapaar Private Limited. I also acknowledge that I shall not raise any claim or hold liable EQUIFAX in relation to my Credit Information Report and Credit Score provided or to be provided by EQUIFAX to Vaibhav Vyapaar Private Limited. I understand that I shall have the option to opt out/unsubscribe from the service.
17. APPLICABLE LAWS
Your use of this Platform and any Term & Conditions stated in this agreement is subject to laws of India. In case of any disputes arising out of the use of the Platform or any part thereof, Courts of Bangalore, India will have exclusive jurisdiction.
18. REFUNDS & CANCELLATION
Any additional payment made by you shall be refunded back within 30 days pursuant to the reconciliation of the accounts by LoanFront. There will be no cancellation of the service once You have received the loan amount in your bank account.