Terms & Conditions

PLEASE READ THE FOLLOWING TERMS AND CONDITIONS CAREFULLY BEFORE REGISTERING, BROWSING, DOWNLOADING OR USING THE SITE. BY USING THE SITE OR BY USING OUR SERVICES, YOU AGREE TO BE BOUND BY THESE TERMS AND CONDITIONS SET FORTH BELOW INCLUDING ANY ADDITIONAL GUIDELINES AND FUTURE MODIFICATIONS THAT WE IMPLEMENT FROM TIME TO TIME. IF AT ANY TIME YOU DO NOT AGREE TO THESE TERMS AND CONDITIONS OR DO NOT WISH TO BE BOUND BY THESE TERMS AND CONDITIONS, YOU MAY REFRAIN FROM USING THE SITE AND IMMEDIATELY TERMINATE YOUR USE OF THE SERVICES.

The terms and conditions contained hereinafter shall apply to the use of the Vaamoz Website and any other linked pages, products, software(s), API keys, features, content or Application,Application services (including but without limitation to any mobile application services) in connection therewith, offered from time to time by Vaamoz("Vaamoz" or "WE" or "OUR" or "US") (collectively called as "WEBSITE").

Any person (“USER” or “CLIENT”) entering into the Website has to read the Terms and Conditions (“TERMS OF USE” and “PRIVACY POLICIES'') and has to accept these terms and conditions set out unconditionally and irrevocably. These Terms & Conditions and Privacy Policies enforce this binding agreement on all the users of Vaamoz.

The User should understand and irrevocably agree that even if he is allowed to execute transactions on our payment platform, the funds wouldn't be deposited into the account of such User until the KYC obligations are pending. The User has to complete RBI's KYC obligations in accordance with the RBI's KYC Guidelines. However, if the RBI's KYC guidelines are not complied with by the User, Vaamoz and other parties involved reserve the right to stop the release of the settled amount to the User. These amounts might be reversed to the original account from where the payment was made.

The Terms and Conditions (as may be amended from time to time) is a legal contract and an agreement between you, an individual customer, member, user, or beneficiary of this service of at least 18 years of age ("You"), and Vaamoz (together with its subsidiaries and other affiliates, "us", "we", "Vaamoz"), regarding Your use of purchase and related Services on our website. Vaamoz reserves the right, at its sole discretion, to revise, add, or delete portions of these terms and conditions any time without further notice which shall be your responsibility to visit from time to time in order to stay abreast of any changes that the "Site" may introduce.

1. Definitions

The Definitions under the Terms of Use include:

● Services- The Services provided by Vaamoz and service providers to its users. Under these services, a user can make payments to other payees or receive payments from other payers. This can be done through RTGS/NEFT/IMPS or credit/debit cards or internet banking, or any other payment modes made available by the banks.

● User- Any person who has registered in Vaamoz to use the Website or the ApplicationApplication or avail of its services can be called a User. A User can make or receive payments to or from third parties. A person who has been authorized to avail of services on anyone else's behalf is also covered under the term "User".

● Payee- A Payee is someone to whom a payment is made or who receives the payment.

● Payer- A payer is a person who makes the payment.

● Products- Under these Terms and conditions, products include any service or product which is purchased or offered for sale by the User to third parties using these services.

● Service Provider A Service Provider is a bank or an association, or a facility provider whose services are being used.

● Transaction A Transaction includes the process of sending money from a user to a payee or a payer to a user.

● Transaction Amount The Transaction amount is an amount payable to a user or payee and receivable by any user or payee.

● Eligibility This Website and its services are solely made for persons who are capable of contracting under the Indian Contract Act and who are above the age of 18. Anyone below 18 years old is expressly prohibited from using the websites and their services.

● Registration for Services To avail the services of the Website, a user has to sign up or create an account with all the necessary documents. When a user registers for Vaamoz, he agrees to provide the correct information as per the best of his knowledge. Failing to provide such correct information will lead to Vaamoz canceling the registration of such users. It is pertinent to note that every User shall take responsibility for anything that happens from his user account.

● Use of Services- The services of Vaamoz can be used to make payments or receive payments.

● User Obligations Every User registered under this Website is responsible for:

a) Providing correct information best to his knowledge.

b) Providing an original copy of proof of delivery of products on demand.

c) Ensuring that his licenses and registrations are valid and legal to carry on his business.

2. Third Party Sites, Products and Services; Links

The Services and/or the Site may include links or references to other websites or services solely as a convenience to users ("Reference Sites"). Vaamoz does not endorse any such Reference Sites or the information, materials, products, or services contained on or accessible through Reference Sites. In addition, Your correspondence or business dealings with, or participation in promotions of, advertisers found on or through the Services and/or the Site are solely between You and such entity. Access and use of reference sites, including the information, materials, products, and services on or available through reference sites is solely at your own risk.

3. Termination; Agreement Violations

You agree that Vaamoz, in its sole discretion, for any or no reason, and without penalty, may suspend or terminate Your account (or any part thereof) or Your use of the Services and remove and discard all or any part of Your account, Your user profile, or Your recipient profile, at any time. Vaamoz may also in its sole discretion and at any time discontinue providing access to the Services, or any part thereof, with or without notice. You agree that any termination of Your access to the Services or any account You may have or portion thereof may be effected without prior notice, and You agree that Vaamoz will not be liable to You or any third party for any such termination. Any suspected fraudulent, abusive or illegal activity may be referred to appropriate law enforcement authorities. These remedies are in addition to any other remedies Vaamoz may have at law or in equity. Upon termination for any reason, You agree to immediately stop using the Services.

4. Limitation of Liability and Damages

IN NO EVENT WILL Vaamoz OR ITS CONTRACTORS, AGENTS, LICENSORS, PARTNERS, OR SUPPLIERS BE LIABLE TO YOU FOR ANY SPECIAL, INDIRECT, INCIDENTAL, CONSEQUENTIAL, PUNITIVE, RELIANCE, OR EXEMPLARY DAMAGES (INCLUDING WITHOUT LIMITATION LOST BUSINESS OPPORTUNITIES, LOST REVENUES, OR LOSS OF ANTICIPATED PROFITS OR ANY OTHER PECUNIARY OR NON-PECUNIARY LOSS OR DAMAGE OF ANY NATURE WHATSOEVER) ARISING OUT OF OR RELATING TO (I) THIS AGREEMENT, (II) THE SERVICES, THE SITE OR ANY REFERENCE SITE, OR (III) YOUR USE OR INABILITY TO USE THE SERVICES, THE SITE (INCLUDING ANY AND ALL MATERIALS) OR ANY REFERENCE SITES, EVEN IF Vaamoz OR A Vaamoz AUTHORIZED REPRESENTATIVE HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. In no event will Vaamoz or any of its contractors, directors, employees, agents, third party partners, licensors or suppliers' total liability to You for all damages, liabilities, losses, and causes of action arising out of or relating to

(i) this Agreement,

(ii) the Services,

(iii) Your use or inability to use the Services or the Site (including any and all Materials) or any Reference Sites, or

(iv) any other interactions with Vaamoz, however caused and whether arising in contract, tort including negligence, warranty or otherwise, exceed the amount paid by You, if any, for using the portion of the Services or the Site giving rise to the cause of action or One Thousand Rupees (Rs.1000), whichever is less. YOU ACKNOWLEDGE AND AGREE THAT Vaamoz HAS OFFERED ITS PRODUCTS AND SERVICES, SET ITS PRICES, AND ENTERED INTO THIS AGREEMENT IN RELIANCE UPON THE WARRANTY DISCLAIMERS AND THE LIMITATIONS OF LIABILITY SET FORTH HEREIN, THAT THE WARRANTY DISCLAIMERS AND THE LIMITATIONS OF LIABILITY SET FORTH HEREIN REFLECT A REASONABLE AND FAIR ALLOCATION OF RISK BETWEEN YOU AND Vaamoz, AND THAT THE WARRANTY DISCLAIMERS AND THE LIMITATIONS OF LIABILITY SET FORTH HEREIN FORM AN ESSENTIAL BASIS OF THE BARGAIN BETWEEN YOU AND Vaamoz. Vaamoz WOULD NOT BE ABLE TO PROVIDE THE SERVICES TO YOU ON AN ECONOMICALLY REASONABLE BASIS WITHOUT THESE LIMITATIONS.

Applicable law may not allow the limitation or exclusion of liability or incidental or consequential damages, so the above limitations or exclusions may not apply to You. In such cases, Vaamoz's liability will be limited to the fullest extent permitted by applicable law. This paragraph shall survive termination of this Agreement.

5. PAYMENT TERMS:

● Subject to the terms of this Agreement, Service Provider will send to Merchant’s bank account Customer Charge from Transactions taking place on Merchant’s Site using the Payment Mechanism of Service Provider, minus any fees including TDR as mentioned in Annexure A, invalidated payments, convenience fee, handling fee, express payout charges, platform fee, Chargebacks, Refunds or any Refund processing charges, bank fees or penalty by banks for excessive Chargebacks or Refunds, applicable taxes, any excess amount paid to Merchant and other amounts that the Merchant owe to the Service Provider under this Agreement. If there are insufficient funds available in Merchant’s account, the Service Provider shall claim from the Merchant such amount to the extent the funds are insufficient; which the Merchant on receipt of the claim undertakes forthwith to pay to the Service Provider without any delay.

● Rejection of Payment The Service Provider and the Facility Providers may reject payment in respect of Customer Orders where:

a) The Merchant has not obtained a necessary Authorization or Service Provider, Facility Providers and the Acquiring Banks are entitled to reject payment in terms of clauses hereof;

b) Any Customer Order is deemed to be fraudulent or otherwise illegal;

c) Any Customer Order which the Customer refuses to pay because the Product / Service was not as promised or was defective or was not delivered;

d) Any Customer Order in respect of which Customer raises a Chargeback/ Dispute;

e) The card Issuing bank advises that the card number does not match any number on file;

f) Payment in respect of the Customer Order or the relevant installment of the purchase price has already been made;

g) Any Products or Services provided by the Merchant using Service Providers’ Payment Mechanism without prior written approval of Service Provider.

h) The Customer Order was not confirmed by Merchant within permissible time mentioned on the panel provided by the Service Provider from the date the Customer Order was placed;

i) Any amount duly receivable by Service Provider from Merchant.

● Where the Service Provider and the Facility Providers are entitled to reject payments in respect of a Customer Order or demand a Refund, the Service Provider shall be entitled to set off and deduct from any payment due to the Merchant and in doing so the Service Provider may:-

a) debit the Merchant’s account held with the Service Provider, forthwith; and/or;

b) deduct the outstanding amount from subsequent credits to the Merchant’s account, and/or;

c) if there is insufficient funds available therein; claim from the Merchant the amount paid to the Merchant by the Service Provider in respect of the relative sales; which the Merchant on receipt of the claim from the Service Provider undertakes forthwith to pay to the Service Provider, the amount of the Refund to the extent to which such funds proves inadequate;

● Payment of Customer Charge in respect of a Customer Order shall be made as per the TDR, other charges and payment schedule mentioned in Table 1 which is further agreed by both the Parties in writing through electronic communication from time to time. The Customer Charges to be paid in the bank account of the Merchant instructed by the Merchant in writing and on receipt of Proof of Delivery of the relevant Product / Service and the Service Provider will deliver its payments to the Merchant as promptly after these dates as is practicable. The TDR amount charged by the Service Provider to the Merchant is non-refundable; although the Merchant shall be liable to pay any Refund charges if it is required to be paid by the Facility Providers.

● Taxes: Each Party shall bear and pay respective taxes as made applicable by the Government authorities from time to time. The Merchant covenants to comply with all the compliances mandated under the Goods and Services Tax (GST) as and when the same is implemented by the relevant Government authority, including but not limited to filing valid tax returns relating to its Transactions with the Service Provider. In case any credit, refund or other benefit under GST is denied to the Service Provider or is delayed due to any non-compliance by the Merchant (such as failure to upload the details of Supply of goods/service on the GSTN portal, failure to pay GST to the Government, lower compliance rating etc.) or due to non-furnishing or furnishing of incorrect or incomplete documents by the Merchant with the Government or the Service Provider , the Merchant agrees to indemnify, defend and hold harmless the Service Provider and reimburse the Service Provider for the loss including ,but not limited to, the tax loss, interest, penalty, reasonable costs or expenses of any nature whatsoever, whether accrued, absolute, contingent or otherwise; including, without limitation, reasonable attorneys’ fees and costs (whether or not a suit is filed).

● Merchant’s Minimum Deposit Account Balance (If applicable): It is mutually agreed by the Merchant and the Service Provider, that the Service Provider may retain a minimal amount “Reserve Deposit Amount” out of amounts payable to the Merchant in terms of Clause 3 hereof. The Merchant agrees that the Service Provider will impose additional Reserve Deposit Amounts, either temporarily or permanently, which are more restrictive than limits placed on the Merchants in order to reduce Service Provider's reasonable apprehension of risk of loss under varying circumstances.

6. CONFIDENTIALITY

● The Parties agree to keep in confidence and not disclose to others all knowledge, information and data furnished and claimed by either party to be proprietary, provided such information is given in writing or, if oral, is reduced to writing within thirty (30) days and such writing is marked to indicate the claims of ownership and/or secrecy. The parties agree that they shall not use, nor reproduce for use in any way, any proprietary information of the other except in furtherance of the relationship set forth herein.

● The parties agree to protect the proprietary information of the other with the same standard of care and procedures used by themselves to protect their own proprietary information of similar importance but at all times using at least a reasonable degree of care.

● Exception: The aforesaid shall not be applicable and shall impose no obligation on a party with respect to any portion of confidential information which:

a) Was at the time received or which thereafter becomes, through no act or failure on the part of such party, generally known or available to the public;

b) Is known to such party at the time of receiving such information as evidenced by documentation then rightfully in the possession of either party;

c) Is furnished to others by the other party without restriction of disclosure;

d) Is thereafter rightfully furnished to such party by a third party without restriction by that third party on disclosure; or

e) Has been disclosed pursuant to the requirements of law or court order without restrictions or other protection against public disclosure; provided, however, that the other party shall have been given a reasonable opportunity to resist disclosure and/or to obtain a suitable protective order.

● The covenants of confidentiality set forth herein shall survive and continue and be maintained from the Effective Date hereof until one (1) year after termination of this Agreement.

7. Indemnification

You agree to indemnify, save, and hold Vaamoz, its affiliates, contractors, employees, officers, directors, agents and its third party suppliers, licensors, and partners harmless from any and all claims, 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 Site, any violation by You of this Agreement, or any breach of the representations, warranties, and covenants made by You herein. Vaamoz reserves the right, at Your expense, to assume the exclusive defense and control of any matter for which You are required to indemnify Vaamoz, including rights to settle, and You agree to cooperate with Vaamoz's defense and settlement of these claims. Vaamoz 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 Agreement.

8. Disclaimer; No Warranties

TO THE FULLEST EXTENT PERMISSIBLE PURSUANT TO APPLICABLE LAW, Vaamoz AND ITS THIRD-PARTY PARTNERS, LICENSORS, AND SUPPLIERS DISCLAIM ALL WARRANTIES, STATUTORY, EXPRESS OR IMPLIED, INCLUDING, BUT NOT LIMITED TO, IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, AND NON-INFRINGEMENT OF PROPRIETARY RIGHTS. NO ADVICE OR INFORMATION, WHETHER ORAL OR WRITTEN, OBTAINED BY YOU FROM Vaamoz OR THROUGH THE SERVICES OR THE SITE WILL CREATE ANY WARRANTY NOT EXPRESSLY STATED HEREIN. YOU EXPRESSLY ACKNOWLEDGE THAT AS USED IN THIS SECTION, THE TERM "Vaamoz" INCLUDES Vaamoz'S OFFICERS, DIRECTORS, EMPLOYEES, SHAREHOLDERS, AGENTS, LICENSORS, SUBCONTRACTORS AND AFFILIATED COMPANIES.YOU ACKNOWLEDGE THAT Vaamoz IS A RESELLER AND IS NOT LIABLE FOR ANY 3RD PARTY (SUPPLIERS) OBLIGATIONS DUE TO RATES, QUALITY, AND ALL OTHER INSTANCES, WHETHER TO ANY SUCH SUBSCRIBERS OR OTHERWISE. YOU EXPRESSLY AGREE THAT USE OF THE SERVICES AND THE SITE IS AT YOUR SOLE RISK. IT IS YOUR RESPONSIBILITY TO EVALUATE THE ACCURACY, COMPLETENESS AND USEFULNESS OF ALL OPINIONS, ADVICE, SERVICES, MERCHANDISE AND OTHER INFORMATION PROVIDED THROUGH THE SITE OR ON THE INTERNET GENERALLY. WE DO NOT WARRANT THAT THE SERVICE WILL BE UNINTERRUPTED OR ERROR-FREE OR THAT DEFECTS IN THE SITE WILL BE CORRECTED. THE SERVICES AND THE SITE AND ANY DATA, INFORMATION, THIRD PARTY SOFTWARE, REFERENCE SITES, SERVICES, OR SOFTWARE MADE AVAILABLE IN CONJUNCTION WITH OR THROUGH THE SERVICES AND THE SITE ARE PROVIDED ON AN "AS IS" AND "AS AVAILABLE," "WITH ALL FAULTS'' BASIS AND WITHOUT WARRANTIES OR REPRESENTATIONS OF ANY KIND EITHER EXPRESS OR IMPLIED. Vaamoz, AND ITS THIRD PARTY SUPPLIERS, LICENSORS, AND PARTNERS DO NOT WARRANT THAT THE DATA, Vaamoz SOFTWARE, FUNCTIONS, OR ANY OTHER INFORMATION OFFERED ON OR THROUGH THE SERVICES, THE SITE OR ANY REFERENCE SITES WILL BE UNINTERRUPTED, OR FREE OF ERRORS, VIRUSES OR OTHER HARMFUL COMPONENTS AND DO NOT WARRANT THAT ANY OF THE FOREGOING WILL BE CORRECTED.Vaamoz AND ITS THIRD PARTY SUPPLIERS, LICENSORS, AND PARTNERS DO NOT WARRANT OR MAKE ANY REPRESENTATIONS REGARDING THE USE OR THE RESULTS OF THE USE OF THE SERVICES, THE SITE OR ANY REFERENCE SITES IN TERMS OF CORRECTNESS, ACCURACY, RELIABILITY, OR OTHERWISE.YOU UNDERSTAND AND AGREE THAT YOU USE, ACCESS, DOWNLOAD, OR OTHERWISE OBTAIN INFORMATION, MATERIALS, OR DATA THROUGH THE SERVICES, THE SITE OR ANY REFERENCE SITES AT YOUR OWN DISCRETION AND RISK AND THAT YOU WILL BE SOLELY RESPONSIBLE FOR ANY DAMAGE TO YOUR PROPERTY (INCLUDING YOUR COMPUTER SYSTEM AND DEVICE) OR LOSS OF DATA THAT RESULTS FROM THE DOWNLOAD OR USE OF SUCH MATERIAL OR DATA. WE DO NOT AUTHORIZE ANYONE TO MAKE ANY WARRANTY ON OUR BEHALF AND YOU SHOULD NOT RELY ON ANY SUCH STATEMENT. THIS PARAGRAPH SHALL SURVIVE TERMINATION OF THIS AGREEMENT. IN NO EVENT WILL Vaamoz BE LIABLE FOR ANY INCIDENTAL, CONSEQUENTIAL, OR INDIRECT DAMAGES (INCLUDING, BUT NOT LIMITED TO, DAMAGES FOR LOSS OF PROFITS, BUSINESS INTERRUPTION, LOSS OF PROGRAMS OR INFORMATION, AND THE LIKE) ARISING OUT OF THE USE OF OR INABILITY TO USE THE SITE.

9. Ownership; Proprietary Rights

The Services and the Site are owned and operated by Vaamoz and/or third party licensors. The visual interfaces, graphics, design, compilation, information, computer code (including source code and object code), products, software, services, and all other elements of the Services and the Site provided by Vaamoz (the "Materials") are protected by Indian copyright, trade dress, patent, and trademark laws, international conventions, and all other relevant intellectual property and proprietary rights, and applicable laws. As between You and Vaamoz, all Materials, trademarks, service marks, and trade names contained on the Site are the property of Vaamoz and/or third party licensors or suppliers. You agree not to remove, obscure, or alter Vaamoz or any third party's copyright, patent, trademark, or other proprietary rights notices affixed to or contained within or accessed in conjunction with or through the Services. Except as expressly authorized by Vaamoz, You agree not to sell, license, distribute, copy, modify, publicly perform or display, transmit, publish, edit, adapt, create derivative works from, or otherwise make unauthorized use of the Materials. Vaamoz reserves all rights not expressly granted in this Agreement. If You have comments regarding the Services and the Site or ideas on how to improve it, please contact us on helpdesk. Please note that by doing so, You hereby irrevocably assign to Vaamoz, and shall assign to Vaamoz, all right, title and interest in and to all ideas and suggestions and any and all worldwide intellectual property rights associated therewith. You agree to perform such acts and execute such documents as may be reasonably necessary to perfect the foregoing rights.

10. Arbitration

Vaamoz may elect to resolve any dispute, controversy or claim arising out of or relating to this Agreement or Service provided in connection with this Agreement by binding arbitration in accordance with the provisions of the Indian Arbitration & Conciliation Act, 1996. Any such dispute, controversy or claim shall be arbitrated on an individual basis and shall not be consolidated in any arbitration with any claim or controversy of any other party. The arbitration shall be conducted in Mumbai, India and judgment on the arbitration award may be entered in any court having jurisdiction thereof. All administrative fees and expenses of an arbitration will be divided equally between you and us. In all arbitrations, each party will bear the expense of its own lawyers and preparation. The language of Arbitration shall be English.

11. Governing Law and Forum for Disputes

Except as otherwise agreed by the parties or as described in the Arbitration section above, you agree that any claim or dispute you may have against Vaamoz must be resolved by a court situate in Mumbai, India. This Agreement shall be governed by the laws of India, without giving effect to any principles of conflicts of law.

12. Severability

If any provision of this Agreement is held to be unlawful, void, invalid or otherwise unenforceable, then that provision will be limited or eliminated from this Agreement to the minimum extent required, and the remaining provisions will remain valid and enforceable.

13. Assignment

This Agreement, and any rights granted hereunder, may not be transferred or assigned by You without our prior written consent which may be withheld in our sole discretion, but may be assigned by us without restriction. Any assignment attempted to be made in violation of this provision shall be void and of no effect.

14. Changes to the Terms and conditions

The site may amend its terms and conditions at any time, at its sole discretion. If there are any changes made in the Terms and conditions, the same shall be notified to You by posting an announcement on the site so that You are abreast of the changes that occur on the site from time to time. The changes will become effective, and shall be deemed accepted by You, 24 hours after the initial posting and shall apply immediately on a going-forward basis with respect to payment transactions initiated after the posting date. If You do not agree with any such modification, Your sole and exclusive remedy is to terminate Your use of the Services.