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TERMS OF SERVICE & GRIEVANCE POLICY

By accessing this site, you agree to be bound by the same and acknowledge that it constitutes an agreement between you and the Company (hereinafter the “User Agreement”). Please read this Agreement carefully and make sure you understand it. If you do not understand the Agreement, or do not accept any part of it, then you may not use the Service.

By accepting this Agreement, you affirm that you are 18 years of age or above and are fully competent to enter into this Agreement, and to abide by and comply with this Agreement.

This document is published in accordance with the provisions of Rule 3 of the Information Technology (Intermediaries Guidelines) Rules, 2011.
 

I. INTRODUCTION

Thank you for using the platform Ambrela.Money, its products, services and features provided to you (collectively, the “Service”).  

 

II. SERVICE

The Platform is a Fintech Marketplace Platform that allows Customers to open and maintain bank, trading and investment accounts and portfolios. The Platform also provides financial & Investment Solutions, Loans (through Partner NBFCs & Banks) and Insurance Services (As a Sub Broker) to its Customers.

 

III. SERVICE PROVIDER

The entity providing the Service is MUST DESSUPT TECHNOLOGIES PVT. LTD. (“Service Provider”) a company incorporated according to the provisions of the Companies Act, 2013 of India having its registered office at Karnataka, Bengaluru.

IV. ELIGIBILITY 

  1. The use and access to the Platform and the Services are not available to persons who are “incompetent to contract” within the meaning of the Indian Contract Act, 1872 and shall also mean to include bots.

  2. The Service Provider reserves the right to refuse access to the Platform, at any time to new Users or to terminate or suspend access granted to existing Users at any time without any reasons for doing so.

  3. Users shall not have more than 1 (one) active Account on the Platform. Additionally, Users are prohibited from selling, trading, or otherwise transferring their Account to another party or impersonating any other person for the purpose of creating an Account with the Platform.

 

V. LICENSE

Users are granted a personal, non-exclusive, non-transferrable, and limited right to access the Platform, avail the Services. A User’s ability to continue using the Platform and Services is subject to their continued maintenance of an Account on the Platform.

 

VI. REGISTRATION

In order to avail the Services, Users will have to register on the Platform and create an account with a unique user identity and password (“Account”). Users will be required to enter certain relevant information as may be required while registering an Account. Users agree and accept that the information provided by the User for the creation of their Account is complete, true, accurate and up-to-date. The Service Provider shall in no way be responsible or liable for the accuracy or completeness of any information provided by Users and retains the right to suspend or terminate the User’s Account on reasonable suspicion regarding the accuracy or completeness of such information.

VII. USE OF PLATFORM AND SERVICES

It is understood that the use of the platform and it’s services is incumbent upon the details furnished by the Customer. It is understood and acknowledged that the information requested is for the purposes of complying with various laws, regulations and guidelines (including Know Your Customer (KYC) norms / Anti-Money Laundering (AML) standards / Combating of Financing of Terrorism (CFT) / Obligation of banks under the Prevention of Money Laundering Act, 2002) promulgated by the Government of India from time to time. Further, that if the requested information is not provided then the Service Provider cannot continue to provide the service.

 

VIII. REPRESENTATIONS AND WARRANTIES

1.By using the Services it is warranted and represented by the Customer that:
  1. it has full power and capacity to enter into and perform its obligations under this Agreement and has taken all necessary actions to authorize the execution and performance thereof and this Agreement when executed will constitute valid and binding obligations on and against it, in accordance with its terms;

  2. it will not, in performing its duties and obligations under this Agreement, put itself or the other Party in breach of any applicable laws, rules or regulations; and

  3. it shall not use the platform for any illegal or unlawful purpose

  4. it shall not provide any misleading, misrepresentative, fraudulent information

  5. All information provided is truthful, lawful and accurate

2.The Service Provider represents and warrants that it has a valid right to use any and all intellectual property that constitute a part of the Services rendered pursuant to this Agreement.
3.The Service Provider will not perform any Services that may result in any act that is immoral/unethical/unlawful/banned either under applicable law, the Service Provider’s Policies or at the sole discretion of the Service Provider. The Service Provider may also refuse to perform any task on the grounds that such task is prohibited under any contract to which the Service Provider is a party.

IX. TERMINATION

1.This Customer may stop using the Service at any time. 
2.The Service Provider retains the right to terminate this Agreement at any time and may do so immediately without notice, and accordingly deny access to the Services.
3.All clauses of this Agreement including this clause which are express, or which by implication are intended to survive the termination of this Agreement shall so survive and continue in full force and effect notwithstanding the termination of this Agreement

 

X. CONFIDENTIAL INFORMATION

1.For purposes of this Agreement, “Confidential Information” means all information that Customer discloses to the Service Provider. “Confidential Information” shall not include information that (i) is in or has entered the public domain through no breach of the Agreement or other wrongful act of any person or entity; or (ii) has been approved for release by prior written authorization of Customer.
2.In connection with the Agreement, the Service Provider and its employees and agents may have access to the Confidential Information of the Customer. The Service Provider shall ensure that its employees and agents shall, keep the Confidential Information in strict confidence and use it only for the purpose of performing its duties under this Agreement. The Service Provider shall not directly or indirectly disclose, publish, disseminate, make available, discuss or otherwise communicate in any way, to any person, firm, association, partnership, corporation or other entity not having a need to know in order to perform Services under this Agreement, any Confidential Information of the Customer, without Customer’s prior written consent.
3.The Service Provider shall make the Confidential Information of the Buyer only available to those employees and agents who have a reasonable need for such Confidential Information in connection with the performance of this Agreement.
4.The Service Provider will have appropriate safeguards in place within its organization to restrict access to Confidential Information to only those individuals as needed in connection with the performance of this Agreement.
5.In the event that The Service Provider is required by a binding order of a governmental agency or court of competent jurisdiction to disclose any Confidential Information of Customer, it shall, if legally permitted, provide Buyer with prompt written notice sufficient to allow Buyer an opportunity to appear and object to such disclosure. If such objection is unsuccessful, then The Service Provider shall produce only such Confidential Information as is required by the court order or governmental action.

XI. INTELLECTUAL PROPERTY

  1. The Service Provider shall own all right, title and interest (including patent rights, copyrights, trade secret rights, mask work rights, trademark rights, sui generis database rights and including all other intellectual property rights of any sort throughout the world) relating to any and all originally-created work produced or ideas and information made or conceived or reduced to practice, works of authorship, mask works, designations, designs, know-how, inventions, discoveries, developments, and improvements made or conceived by The Service Provider and relating to the Platform, Services under or arising out of this Agreement, in whole or in part, by or for or on behalf of The Service Provider, during the Term, that relate to the subject matter of or arising out of or in connection with the Services.

  2. The trademarks, logos and service marks displayed on the Platform (“Marks”) are the property of The Service Provider, except any trademark, logos and service marks of third parties available on the Platform. Users are not permitted to use the Marks without the prior consent of The Service Provider or such third party as may be applicable.

  3. To report any infringements/violations of intellectual property rights please contact us at: _______

XII. Indemnity & Limitation of Liability

  1. Each Party (“Indemnifying Party”) shall indemnify and hold harmless the other, its promoters, officers, directors, employees, affiliates, agents, sub-contractors and other representatives (collectively “Indemnified”) from any direct and actual claims, demands, liabilities, suits, proceedings, penalties, costs or expenses of any kind (including, attorneys’ fees and expenses) arising out of  (i) infringement of intellectual property rights of the Indemnified Party by the Indemnifying Party or its personnel; (ii) infringement of third party intellectual property rights by the Indemnifying Party or its personnel; (iii) gross negligence and/or misconduct by a Party or its personnel; and (iv) breach of any material obligation, terms, representation, warranties and covenants under this Agreement.

  2. Users indemnification obligation under the Terms of Use will survive the termination of their Account or use of the Platform or Services.

  3. In no event will the Service Provider their directors, officers, employees, agents or other representatives be liable for any direct, indirect, special, incidental, consequential, or punitive damages, or any other damages of any kind arising from your use of the Platform or Services. Our total liability, whether in contract, warranty, tort (including negligence) or otherwise, shall in no event extend beyond refund of the money charged from a buyer for purchases made pursuant to an order under which such liability has arisen and been established.

  4. The Service Provider will not be liable for any loss that the Customers may incur as a consequence of unauthorized use of their Account or Account information in connection with the Platform either with or without their knowledge. The Customer further agrees to immediately notify The Service Provider in case of any unauthorized use of account or breach of security.

 

XIII. PRIVACY

Our Privacy Policy explains how we treat your personal data and protect your privacy when you use the Service. Agreeing to use the Services also includes agreeing to our privacy policy.

 

XIV. AMENDMENTS

We reserve the right to modify or change these Terms of Use and other policies at any time by posting modified documents on the Platform and notifying you of the same for your perusal. You shall be liable to update yourself of such changes, if any, and be responsible for regularly reviewing the Terms of Use and the other policies and note the changes made on the Platform. Your continued usage of the Services after any change is posted constitutes your acceptance of the amended Terms of Use and other policies. 

 

XV. SEVERANCE
If it turns out that a particular term of this Agreement is not enforceable for any reason, this will not affect any other terms.

XVI. ASSIGNMENT

Customers cannot assign or otherwise transfer the Terms of Service, or any rights granted hereunder to any third party. 

 

XVII. NO WAIVER
If you fail to comply with this Agreement and we do not take immediate action, this does not mean that we are giving up any rights that we may have (such as the right to take action in the future).

XVIII. INTEGRATION

These Terms of Use together with The Service Provider’s Privacy Policy, any other Policies, any other legal notices, and communications published by The Service Provider on its Platform.

 

XIX. GOVERNING LAW

This Agreement and the rights and obligations thereunder shall be governed by and construed in accordance with the laws of India. Any action to enforce any provision of this Agreement shall be brought exclusively in a court of competent jurisdiction located in Bengaluru.

XX. GRIEVANCE REDRESSAL MECHANISM

In accordance with Information Technology Act, 2000 and the Information Technology (Intermediaries Guidelines) Rules, 2011 and the Consumer Protection Act, 2019 and the Consumer Protection (E-Commerce) Rules, 2020 the name and contact details of the Grievance Officer and Nodal Person who can be contacted for any complaints or concerns pertaining to the Marketplace, including those pertaining to breach of the Terms of Use or any other policies are published as under:

Grievance Officer: Sreeraj Thamarappilly

                              +91 6362609790

                              compliance@ambrela.money

Nodal Person: Arpit Nagda

                        +91 9566188733

                        arpit@ambrela.money

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