FaircentPro

Terms of Use

Faircentpro.com ("FaircentPro" or "Site" or "we" or "our") is a trade name owned and managed by FTIPL Payments and Marketing Tech Pvt. Ltd. (“Company”, or “FTIPL”, or “FaircentPro”, or “Us” or, “We”). FTIPL operates a Digital Lending Application / Platform (“DLA” or “SITE”), which is a mobile and a web-based application with user interface that facilitates digital lending services. Digital Lending Service (“Service”) is a remote and automated lending process, largely by use of seamless digital technologies for borrower / customer acquisition, credit assessment, loan approval, disbursement, recovery, and associated borrower / customer service. Our Site will include applications managed and operated by us and may also include apps of Non-Banking Financial Companies (‘NBFCs’), Commercial Banks, and / or Primary (Urban) Co-operative Banks, State Co-operative Banks, District Central Co-operative Banks. These are defined as Regulated Entities (“REs”) under the Digital Lending Guidelines (“Guidelines”) prescribed by the Reserve Bank of India (“RBI”), for extending any credit facilitation services in conformity with extant outsourcing guidelines issued by the RBI.

Our Site facilitates bringing together people who are willing to borrow and REs who are willing to lend to the borrowers. FaircentPro is an attempt to build a close community that would share its resources with each other in all honesty and promote togetherness and growth of the community at an individual level and of the community as a whole. On this Site, a visitor to the website could browse and search for REs who are willing to lend and people who are willing to borrow, details of service providers such as verification agencies, collection agents and other such service providers that would provide services to either lenders or to borrowers. FaircentPro merely facilitates a transaction of borrowing and lending between two such parties. FaircentPro neither lends nor borrows on its own through this website. FaircentPro is neither a financial institution, nor runs a collective investment scheme or a chit fund or any other such financial scheme.

SITE or DLA: means FaircentPro.com which is owned and managed by FTIPL Payments and Marketing Tech Private Limited.

YOU/YOUR: You/Your in case of an individual shall mean natural or legal person who is at least 18 years of age and could legally enter into a contract in India and could use the services provided on FaircentPro.com in accordance with the terms and conditions recorded hereinafter. And in case of a RE, shall mean Non-Banking Financial Companies (‘NBFCs’), Commercial Banks, and / or Primary (Urban) Co-operative Banks, State Co-operative Banks, District Central Co-operative Banks as the case may be which could legally enter into a contract in India and could lend monies to prospective borrowers using the services provided on FaircentPro.com’s SITE in accordance with the terms and conditions recorded hereinafter, and has agreed to become a paid member of this Site and whose membership fees is not in arrears.

Acceptance of Terms and Conditions

Every effort has been made to ensure, that the information contained on the Site is correct, however FaircentPro makes no warranty as the accuracy, comprehensiveness, or correctness of any Service on the Site, and provides all Service(s) on an "as is" basis. By using this Site, you ("you" or the "End User") agree to these terms and conditions ("Terms and Conditions" or "T&C" or "Terms") that we have provided. If you do not wish to agree to these Terms and Conditions, please refrain from using this Site.

The Service(s) and information displayed on the Site is an "invitation to offer" to the End User. Your order for purchase of either Service(s) constitutes your "offer" which shall be subject to the terms and conditions as listed below. FaircentPro reserves the right to accept or reject your offer, without providing any reasons. If you have supplied us with your valid email address, we will notify you by email as soon as possible to confirm receipt of your instruction and email you again to confirm details and therefore process the instructions accordingly for provision of Services(s). Our acceptance of your instructions for rendition of services will take place upon rendition of Service(s) ordered. No act or omission of FaircentPro prior to the actual rendition of services ordered will constitute acceptance of your offer. Similarly, no act or omission of FaircentPro prior to the actual rendition of services shall constitute acceptance of your offer. A Person who cannot enter into legally binding contract in accordance with the provisions of the Indian Contract Act, 1872 including person below the age of 18 years or of unsound mind and un-discharged insolvents etc. are not entitled to use the Site.

Persons under the age of 18 years are not permitted to get engaged with this Site and have no permission to call for or use any Services, or to borrow from or through this Site.

The Site is freely accessible to the End User, however; the End User will have to register with FaircentPro.com and create their personal registration account prior to any purchase of Service(s). All registration information must be correct, complete and promptly updated by the End User each time it changes. We, FaircentPro reserve the right to make any changes to these Terms and Conditions and/or the Privacy Policy (which is incorporated herein by reference) as we deem necessary or desirable without prior notification to you. We suggest to you, therefore, that you read our T&C and Privacy Policy from time to time in order that you stay informed as to any such changes. If we make changes to our T&C and Privacy Policy and you continue to use our Site, you are impliedly agreeing to the revised T&C and Privacy Policy expressed herein.

  • Your privacy is important to us and we will protect it. We will not share your personal information with anyone other than those listed in our Privacy Policy.
  • As a condition of availing the Service, FaircentPro requires your consent to send you administrative and promotional communication via s emails / SMS/ Phone Calls or any other social media platforms. We will send you information regarding your account activity and purchases, as well as updates about our Services and promotional offers. You can opt-out of our promotional emails anytime by clicking the unsubscribe link at the bottom of any of our email correspondences. Please see our Privacy Policy for details.
  • By placing an order, you make an offer to us to purchase Service(s) you have selected based on the Terms and Conditions stated below.
  • You are required to create an account in order to purchase any Service from our Site. This is required so we can provide you with easy access to print your orders, view your past purchases, and modify your preferences.
  • If you have any questions about these Terms and Conditions, please contact FaircentPro on [email protected]

To read the complete FaircentPro Terms and Conditions, please see below.

1. ACCEPTANCE OF TERMS AND CONDITIONS

By using this Site, you agree to the Terms and Conditions that FaircentPro has provided. If you do not wish to agree to these Terms and Conditions, please refrain from using the Site. In the Site, FaircentPro provides End Users with access to database of lenders and service providers in relation to the Services such as verification agencies and collection agencies etc. FaircentPro is only a Lending Service Provider (“LSP”) as defined in the Guidelines, to mean an agent of a RE which carries out one or more of lender’s functions or part thereof in borrower acquisition, underwriting support, pricing support, servicing, monitoring, recovery of specific loan or loan portfolio on behalf of REs in conformity with extant outsourcing guidelines issued by the RBI.

If this T&C conflicts with any provision of the Guidelines presently in force, , the latest version of the Guidelines will prevail for the purposes of usage of the Site. If you do not agree to be bound by this T&C and the Privacy Policy, you may not use the Site in any way.

2. Description of Services

In the Site, FaircentPro provides End Users with access to lenders, borrowers, service providers to borrowers, partners who facilitate lending and provide credit reports for lenders and borrowers.

Upon your clicking "yes" in the options menu we shall be entitled to send you regular updates via email/ sms/ phone call or any other means regarding our Service offerings.

3. General

These terms and conditions that apply to the user of this Site. By using this Site (other than to read this T&C for the first time), user agrees to comply with all of the terms and conditions hereof. The right to use this Site is personal to the user and is not transferable to any other person or entity. User shall be responsible for protecting the confidentiality of User's password(s), if any. User acknowledges that, although the internet is often a secure environment, sometimes there are interruptions in service or events that are beyond the control of FaircentPro, and FaircentPro shall not be responsible for any data lost while transmitting information on the internet. While it is FaircentPro’s objective is to make the Site accessible 24 hours per day, 7 days per week, the Site may be unavailable from time to time for any reason including, without limitation, routine maintenance. You understand and acknowledge that due to circumstances both within and outside of the control of FaircentPro, access to the Site may be interrupted, suspended or terminated from time to time. FaircentPro shall have the right at any time to change or discontinue any aspect or feature of the Site, including, but not limited to, content, hours of availability and equipment needed for access or use. Further, FaircentPro may discontinue disseminating any portion of information or category of information, may change or eliminate any transmission method and may change transmission speeds or other signal characteristics.

4. Modified Terms

FaircentPro reserves the right at all times to discontinue or modify any of the Terms and Conditions as may be deemed necessary or desirable without prior notification to you. Such changes may include, among other things, the adding of certain fees or charges or the provision of any new Service or any new condition based on any revision of the Guidelines. We suggest to you, therefore, that you re-read this important notice containing our Terms and Conditions from time to time in order that you stay informed as to any such changes. If we make changes to our Terms and Conditions and you continue to use our Site, you are impliedly agreeing to the Terms and Conditions and Privacy Policy expressed herein. Any such deletions or modifications shall be effective immediately upon FaircentPro posting thereof. Any use of FaircentPro by End User after such notice shall be deemed to constitute acceptance by End User of such modifications.

5. License and Site Access

FaircentPro grants you a limited license to access and make personal use of the Site. This license does not include any downloading or copying of account information for the benefit of another vendor or any other third party; caching, unauthorized hypertext links to the Site and the framing of any content available through the Site, uploading, posting, or transmitting any content that you do not have a right to make available (such as the intellectual property of another party); uploading, posting, or transmitting any material that contains software viruses or any other computer code, files or programs designed to interrupt, destroy or limit the functionality of the Site or any computer software or hardware or telecommunications equipment; any action that imposes or may impose (in FaircentPro’s sole discretion) an unreasonable or disproportionately large load on FaircentPro’s infrastructure; or any use of data mining, robots, or similar data gathering and extraction tools. You may not bypass any measures used by Faircent to prevent or restrict access to the Site. Any unauthorized use by you shall terminate the permission or license granted to you by FaircentPro. By using this Site and by accepting to agree to these terms and conditions you also agree that you shall not hack or otherwise hire some third party to hack the Site or use any other unauthorized means without a written consent of FaircentPro and access any third party information. By using this Site you agree that you will hold all any information received by you during your interaction with this Site or any other users of this Site (including other lenders and borrowers on this Site) in the strictest confidence and shall not disclose or use the information obtained by you by accessing this Site. You shall in such an event be liable of a criminal offence and we shall institute appropriate legal proceedings to claim damages. FaircentPro also reserves the rights to institute proceedings in accordance with the law relating to intellectual property rights violation or infringement available to it in case the misuse of this Site is a person or an entity that belongs to out of India. In any event, the jurisdiction to institute any protective proceedings shall vest with the Faircent within the exclusive jurisdiction of Gurgaon.

6. Faircent Usage Eligibility

The FaircentPro.com Service is not available to persons under the age of 18 or of unsound mind or who are declared insolvent or to any Users suspended or removed from the system by FaircentPro for any reason. Users may not have more than one active account. Additionally, Users are prohibited from selling, trading, or otherwise transferring their Faircentpro.com account to another party. If you do not qualify, you may not use the Faircentpro.com or the Site.

7. Your Account

In consideration of your use of the Site, you represent that you are of legal age to form a binding contract and are not a person barred from receiving services or goods under the laws as applicable in India. Additionally, you are more than 18 years of age. You also agree to provide true, accurate, current and complete information about yourself as prompted by the Site's registration form. If you provide any information that is untrue, inaccurate, not current or incomplete (or becomes untrue, inaccurate, not current or incomplete), or FaircentPro has reasonable grounds to suspect that such information is untrue, inaccurate, not current or incomplete, FaircentPro has the right to suspend or terminate your account and refuse any and all current or future use of the Site (or any portion thereof). As FaircentPro is a Site that enables borrowers to find lenders, it considers provisions of wrong information on this Site willingly an act that would constitute misrepresentation, fraud and cheating. If you use the Site, you are responsible for maintaining the confidentiality of your account and password, and for restricting access to your computer. You agree to accept responsibility for all activities that occur under your account or password. Because of this, we strongly recommend that you exit from your account at the end of each session. You agree to notify FaircentPro immediately of any unauthorized use of your account or any other breach of security. FaircentPro reserves the right to refuse Service, terminate accounts, or remove or edit content in its sole discretion. In the event, FaircentPro finds that the information shared by the User of the Site is incorrect or that the User is in breach of terms or conditions of the Site or User is in default of the lenders and borrowers agreement than in such case FaircentPro may add the name and details of such person in the list of persons who are blacklisted from receiving funds.

By registering with us and opening an account on our platform, whether as a Borrower, you hereby authorize, allow and permit FaircentPro under this specific authorization, to identify prospective lenders for your benefit, and to conclude a loan transaction and thereafter to execute a Lender Borrower agreement. You (as a Borrower) hereby further authorize FaircentPro to do all such acts, deeds and things relating to your procuring a loan from the lenders registered on the Site and collecting repayments from you as a borrower for the benefit of the lender. All details about lending and repayment conducts by FaircentPro will be available on Your personal dashboards provided to You by FaircentPro.

8. Equipment

User shall be responsible for obtaining and maintaining all telephone, computer hardware and other equipment needed for access to and use of this Site and all charges related thereto. FaircentPro shall not be liable for any damages to the End User's equipment resulting from the use of this Site.

9. End User conduct

This Site and any other third-party individual sites or merchant-specific, city-specific, or state-specific sites now or hereinafter contained within or otherwise available through external hyperlinks within our Site (the "Microsites") are private property. All interactions on this Site and/or the Microsites must comply with these Terms and Conditions and the terms and conditions of such third party Microsites. Although we welcome and encourage user interaction on our Site, we do insist and require that all End Users restrict any and all activity in connection with the use of this Site and the Microsites to that which involves lawful purposes only. End User shall not post or transmit through this Site any material which violates or infringes in any way upon the rights of others, or any material which is unlawful, threatening, abusive, defamatory, invasive of privacy or publicity rights, vulgar, obscene, profane or otherwise objectionable, which encourages conduct that would constitute a criminal offense, give rise to civil liability or otherwise violate any law, or which, without FaircentPro's express prior, written approval, contains advertising or any solicitation with respect to the Services. Any conduct by an End User that in FaircentPro's exclusive discretion restricts or inhibits any other End User from using or enjoying this Site and/or any of the Microsites or is in violation of the Guidelines is strictly prohibited. End User shall NOT use this Site or any of the Microsites to advertise or perform any commercial, religious, political or non-commercial solicitation, including, but not limited to, the solicitation of users of this Site and/or the Microsites to become users of other on- or offline services directly or indirectly competitive or potentially competitive with FaircentPro, or in violation of the regulations contained in the Guidelines.

The foregoing provisions of this Section apply equally to and are for the benefit of REs (lenders), FaircentPro, its subsidiaries, affiliates and its third-party content providers and licensors, and each shall have the right to assert and enforce such provisions directly or on its own behalf.

Any and all information howsoever exchanged (including but not limited to, publication over dashboard, or personal email communication) between FaircentPro (through its employees, representatives etc.,) and You as a registered Borrower, is personal and confidential to each User registered with Us as well as for FaircentPro and you are required to maintain strict confidentiality of this information. Any unauthorized disclosure, or any disclosure (including but not limited to posting such information on any social media platforms, otherwise) without the express written consent of FaircentPro or the Lender, as the case may be, shall be considered a serious breach of your obligations under these Terms and Conditions as well as the Lender – Borrower Agreement executed pursuant to a successful loan transaction. Such breach by You shall entitle FaircentPro to forthwith terminate your registration (as a Borrower) and seek damages from You under applicable law.

10. Monitoring

FaircentPro shall have the right, but not the obligation, to monitor the content of the Site at all times, including any chat rooms and forums that may hereinafter be included as part of the Site, to determine compliance with this Agreement and any operating rules established by FaircentPro, as well as to satisfy any applicable law, regulation or authorized government or an RBI request. Without limiting the foregoing, FaircentPro shall have the right to remove any material that FaircentPro, in its sole discretion, finds to be in violation of the provisions hereof or otherwise objectionable, or is in violation of the Guidelines.

Further in case it comes to your knowledge that any member of this Site has committed default or fraud or misrepresents his financial status than you may inform FaircentPro in writing and upon receipt of such information FaircentPro shall call upon such third party to explain the allegations made in your Notice and upon receipt of an explanation from such third party FaircentPro shall in its own discretion decide as to whether such a person should be prohibited from using the Site.

11. License Grant

By posting communications on or through this Site, User shall be deemed to have granted to FaircentPro a royalty-free, perpetual, irrevocable, non-exclusive license to use, reproduce, modify, publish, edit, translate, distribute, perform, and display the communication alone or as part of other works in any form, media, or technology whether now known or hereafter developed, and to sublicense such rights through multiple tiers of sub-licensees.

12. Personal Information

In order to avail of the Services from the Site, you will need to provide your details prior to get enlisted as a borrower. As an account holder you are required to provide FaircentPro with accurate personal information. Provision of another person’s details as your own will not be deemed acceptable.

Any personal information collected by FaircentPro shall not be disclosed to any third party unrelated to the FaircentPro business unless such a disclosure is authorized or required by law, or you have expressly consented to such a disclosure. However, by accepting the terms and conditions you grant FaircentPro an unconditional right to share your personal information with the REs registered on the Site, FaircentPro’s partners, affiliates, employees and agents for administrative purpose. Please also see the Privacy Policy in this regard.

You hereby agree and give your specific consent to FaircentPro to disclose the personal information and any sensitive personal information that you submit to FaircentPro, to its business partners and RE's, which inter-alia includes Fairassets Technologies India Private Limited ('Faircent P2P'). If you register as a borrower on Faircent P2P platform, you hereby confirm and consent to the following before being able to receive any loans from the lenders registered on Faircent P2P:

(i) You have not borrowed any amounts exceeding INR 10,00,000 across all the P2P platform in India and you also agree that you will not exceed the limit specified by the RBI for borrowing on p2p platforms in India;

(ii) You have not borrowed more than INR 50,000 from the same lender across all P2P platforms in India.

As per direction of the Reserve Bank of India at all times Faircent P2P makes information available on its website including, without limitation to, the following information regarding borrowers to the lenders.

(a) details about the borrower(s) including personal identity, required amount, interest rate sought and credit score as concluded by the NBFC-P2P,

If you do not consent or agree to the above, then you will be disqualified from registering as a borrower on Faircent P2P.

By providing this consent, it will mean that you are providing your consent to the above directly to the RE's and inter-alia Faircent P2P, which will constitute a privity of contract with such RE's including but not limited to Faircent P2P which will be enforceable by Faircent P2P against you for any breach of your representation as stated above.”

13. Credit Card Information

You agree, understand and confirm that the credit card details provided by you for availing of Services on FaircentPro will be correct and accurate and you shall not use the credit card which is un-lawfully owned by you, thus you must not pay or attempt to pay for Services using fraudulent credit card information. You further agree and undertake to provide the correct and valid credit card details to FaircentPro. In case of orders that amount to Rs.10,000 or more, you will be required to provide the last four digits of the credit card used to place the order, for the purpose of verification.

Further, the said information will not be utilized and shared by FaircentPro with any third parties unless required for fraud verifications or by law, regulation or court order, or to provide you the Services. FaircentPro will not be liable for any credit card fraud. The liability for use of a card fraudulently will be on you and the onus to ‘prove otherwise' shall be exclusively yours.

14. Cancellation by FaircentPro

Please note that there may be certain instructions to remit payments or seek rendition of Services that Faircent is unable to accept shall be cancelled. We reserve the right, at our sole discretion, to refuse or cancel any request for a Service for any reason. We may also require additional verifications or information before accepting any instruction or registering you on our Site. The borrower(s) are required to note that negative third party verification report(s) are crucial factors considered during the funding process. The funding may get rejected at any stage due to lack of information or verifiable information.

15. Fraudulent /Declined Transactions

FaircentPro reserves the right to recover damages, costs, charges, expenses including lawyers’ fees from persons using the Site fraudulently. FaircentPro reserves the right to initiate legal proceedings against such persons for fraudulent use of the Site and any other unlawful acts or omissions in breach of these terms and conditions.

16. Compliance

By using this Site and registering with us on the Site, you agree that you are aware of and have read the latest version of the Guidelines and will comply with any directions issued by the RBI or any other statutory authority in connection with the Services.

17. Limitation of Liability

FaircentPro, its associates and technology partners make no representations or warranties about the accuracy, reliability, completeness, current-ness and/or timeliness of any content, information, software, text, graphics, links or communications provided on or through the use of the Site or that the operation of the Site will be error free and/or uninterrupted. Consequently, FaircentPro assumes no liability whatsoever for any monetary or other damage suffered by you on account of the delay, failure, interruption, or corruption of any data or other information transmitted in connection with use of the Site; and/or any interruption or errors in the operation of the Site. You expressly understand and agree that FaircentPro and its subsidiaries, affiliates, officers, employees, agents, partners and licensors shall not be liable to you for any direct, indirect, incidental, special, consequential or exemplary damages, including, but not limited to, damages for loss of profits, goodwill, use, data or other intangible losses (even if FaircentPro has been advised of the possibility of such damages), resulting from use of the Site, and your availing the Services and consumption of any content on the Site.

This limitation of liability section shall prevail over any conflicting or inconsistent provision contained in any of the documents comprising this Agreement. It is up to you to take precautions to ensure that whatever equipment you select for your use to acces the Site, is free of such items as viruses, worms, trojan horses and other items of a destructive nature.

The User further with immediate effect waives any right which had accrued to him from using the Site to initiate any legal action against FaircentPro. User also acknowledge that the credibility of a RE (lender) as depicted upon the Site is based on the information that is provided to FaircentPro by the concerned RE (lender), and FaircentPro shall not be responsible for any risks, losses, damages, charges, expenses, costs, claims or liabilities that you as the borrower may suffer or incur as a result of any direct or indirect act of omission or commission by the concerned RE (lender). FaircentPro in any event is not responsible or liable for any default in return of money that is borrowed from the lender and the lender shall have exclusive right to initiate proceedings against the defaulting borrower independently. FaircentPro does and will provide the necessary information and support to the lender to recover the monies from the defaulting borrower.

18. Indemnity

You agree to indemnify and hold FaircentPro (and its officers, directors, agents, subsidiaries, joint ventures, and employees) harmless from any claim or demand, including reasonable attorneys’ fees, arising out of or related to your breach of this T&C or the Privacy Policy, or your violation of any law or the Guidelines, or the rights of any RE (lender), or any third party including but not limited to breach of any of your warranties, representations or undertakings or in relation to the non-fulfillment of any of your obligations under this T&C or the Privacy Policy, or arising out of violation of the Guidelines, or any applicable laws, regulations including but not limited to infringement of intellectual property rights, non-payment of statutory dues and taxes, claim of libel, defamation, violation of rights of privacy or publicity, loss of service by other users and any other rights of any third parties. This clause shall survive the expiry or termination of this T&C, which may happen if you cease to be a user of the Site. In the event any excess amount is credited into your account by reason of any system error or human error (‘Wrongfully Credited Amounts’) to which you are not entitled, you shall immediately notify us in writing of the same and shall not withdraw, use, transfer or deal with such Wrongfully Credited Amount in any manner whatsoever. You hereby undertake to indemnify us for any losses, costs, damages, charges and expenses that we may suffer as a result of a breach of this obligation.

19. Severability

If any of the Terms shall be deemed void, invalid or unenforceable for any reason, that condition shall be deemed several and shall not affect the enforceability of any remaining provision.

20. Customer Communication

FaircentPro will communicate with you through any of the modes using email, SMS and telephone or all of them or any other mode. Account holders must provide a valid email address and contact telephone and/ or mobile number to FaircentPro for this purpose. Please note FaircentPro will not be able to contact the user in case user’s number is part of DNC (Do Not Call) list as generated by TRAI (Telecom Regulatory Authority of India). In this case we request you to call us on our call center number. When you use the Site or send emails to FaircentPro, you are communicating with FaircentPro electronically. You consent to receive communications from FaircentPro electronically. From time to time, FaircentPro will also send you marketing material. If you do not wish to receive such material, you may unsubscribe from our mailing list at any time by using the unsubscribe function in the electronic marketing communication or by contacting at [email protected] You agree that all agreements, notices, disclosures and other communications that we provide to you electronically satisfy any legal requirement that such communications must be in writing.

21. Site-Provided Email and Postings

The Site may provide End Users with the ability to send email messages to other End Users and non-End Users and to post messages on the Site. FaircentPro is under no obligation to review any messages; information or content ("Postings") posted on the Site by End Users and assumes no responsibility or liability relating to any such Postings.

You understand and agree not to use any functionality provided by the Site to post content or initiate communications that contain:

  1. (i) Any unlawful, harmful, threatening, abusive, harassing, defamatory, vulgar, obscene, profane, hateful, racially, ethnically or otherwise objectionable material of any kind, including, but not limited to, any material which encourages conduct that would constitute a criminal offense, give rise to civil liability or otherwise violate any applicable local, state, national or international law.
  2. (ii) Advertisements or solicitations of any kind.
  3. (iii) Impersonate others or provide any kind of false information.
  4. (iv) Personal information such as messages which state phone numbers, account numbers, addresses, or employer references.
  5. (v)Messages by non-spokesperson employees of FaircentPro purporting to speak on behalf of FaircentPro or containing confidential information or expressing opinions concerning FaircentPro.
  6. (vi) Messages that offer unauthorized downloads of any copyrighted or private information.
  7. (vii) Chain letters of any kind.
  8. (viii) Identical (or substantially similar) messages to multiple recipients advertising any product or service, expressing a political or other similar message, or any other type of unsolicited commercial message.

This prohibition includes but is not limited to:

  1. (a) Using Faircentpro.com invitations to send messages to people who don’t know you or who are unlikely to recognize you as a known contact;
  2. (b) Using Faircentpro.com to connect to people who don’t know you and then sending unsolicited promotional messages to those direct connections without their permission; and
  3. (c) Sending messages to distribution lists, newsgroup aliases, or group aliases.

22. The Opt-out Practice

  1. (a) If you are no longer interested in receiving e-mail announcements and other marketing information from us, or you want us to remove any personal information that we have collected about you, you can opt-out anytime by sending an e-mail about your request to [email protected]
  2. (b) We use third-party service providers to serve ads on our behalf across the Internet and sometimes on this Site. They may collect anonymous information about your visits to our Site, and your interaction with our Services. They may also use information about your visits to this Site and other websites to target advertisements for goods and services. This anonymous information is collected through the use of a pixel tag, which is industry standard technology used by most major websites.

23. Links

The Site or third parties may provide links to other World Wide Web sites or resources. Because FaircentPro has no control over such sites and resources, you acknowledge and agree that FaircentPro is not responsible for the availability of such external sites or resources, and does not endorse and is not responsible or liable for any content, advertising, products or other materials on or available from such sites or resources. You further acknowledge and agree that FaircentPro shall not be responsible or liable, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with use of or reliance on any such content, goods or services available on or through any such third-party site or resource. Your use of such third-party site or resource is at your own risk and peril.

24. Access to Password Protected/Secure Areas

Access to and use of password protected and/or secure areas of the Site is restricted to authorized Users only. Unauthorized individuals attempting to access these areas of the Site may be subject to prosecution.

25. Acknowledgements

You acknowledge that the FaircentPro is not engaged in either grant of loan or borrowing any money from any member of the Site.

  1. I You acknowledge that FaircentPro is simply managing this Site as an LSP under the Guidelines and acting on behalf of the RE (lender) to offer loan and other loan related Services to you; and neither FaircentPro nor any of its subsidiary or affiliate has any interest in either grant of loan or in borrowing money from a member registered on the Site.
  2. II You acknowledge that the FaircentPro is not at all responsible for any claim or damage in case either the lender (RE) who has agreed to grant loan has not granted loan or the borrower who has borrowed the loan and agreed to repay the loan does not repay the loan.
  3. III You acknowledge that FaircentPro in no manner warrants or guarantees the performance of a service provider that is providing services through the Site of FaircentPro.
  4. IV You acknowledge that the FaircentPro in no manner warrants and guarantees that the grantor of loan or the recipient of loan has provided all the information on this Site which is true and correct including his / her address, phone numbers etc.
  5. V You acknowledge that it is your responsibility to submit authentic information about yourself on the Site and FaircentPro is in no manner liable if the information provided by you on this Site is untrue or incorrect.
  6. VI You acknowledge that FaircentPro is in no manner responsible for any claim of money or damages in the event the lender (RE) fails to either grant loan or a borrower fails to repay the loan or misrepresents about his financial status or commits a fraud or a cheating or any other such illegal act.
  7. VII You acknowledge that you have taken expert advice from a legal consultant or any other expert so required about your status to borrow on the Site.
  8. VIII You acknowledge that you are aware of all your rights, duties and applicability of various laws including the Guidelines Income Tax Act, or any other statute, or law, which may govern the lending and borrowing of monies within your State of residence or from where you ordinarily conduct your business.
  9. IX You hereby agree and grant your consent to Faircentpro and its third party vendors/business, that either Faircentpro, or its third-party vendors/business partners can submit your application for loan to any number of REs to fulfil your borrowing requirements. However, you shall always have the right to decide, what kind of loan products or services you wish to avail of from these REs.
  10. X You hereby agree and grant your consent to receive information from Central KYC Registry through SMS/Email on the registered number/email address with us and to search, download, upload and update my CKYC information.
  11. XI You hereby acknowledge and confirm that, in accordance with paragraph no. 38(d) of Chapter VI (Part V) of the RBI Master Direction - Know Your Customer (KYC) Direction, 2016, it is your responsibility to promptly inform Faircentpro of any updates or changes to the documents submitted as part of the KYC process and agree to provide Faircentpro with the updated document within thirty (30) days of any such change.

26.Disclaimer of Warranties

ALL DETAILS OF THE REGISTERED USERS OF THIS FAIRCENTPRO SITE AND THEIR FINANCIAL STATUS, INCLUDED IN OR AVAILABLE THROUGH THIS SITE ARE PROVIDED FOR USE WITHOUT WARRANTIES OF ANY KIND, EITHER EXPRESS OR IMPLIED, FAIRCENTPRO, ITS SHAREHOLDERS, ITS HOLDING COMPANY, ITS SUBSIDIARIES, AND ITS LICENSORS DO NOT WARRANT THAT THE INFORMATION OR OTHER MATERIAL WHICH IS PLACED ON THE SITE BY ANY PERSON IS CORRECT INCLUDING HIS FINANCIAL STATUS OR CAPABILITY OR HAS NOT APPROACHED THE OTHER USER OF THIS SITE WITH A CRIMINAL INTENT TO EITHER CHEAT OR MISAPPROPRIATE OR DENY ANY OTHER USER OF ITS LEGITIMATE CLAIMS. BY UPLOADING ANY CONTENT, REPRESENTATION OR STATEMENT OF YOUR FINANCIAL STATUS OR YOUR PROOF OF RESIDENCE YOU REPRESENT AND WARRANT THAT YOU HAVE THE LAWFUL RIGHT TO REPRODUCE AND DISTRIBUTE SUCH CONTENT AND THAT THE CONTENT COMPLIES WITH ALL LAWS AND IS TRUE AND AUTHENTIC AND IS NOT IN ANY EVENT PLACED ON THE SITE TO DEFRAUD OTHER USERS OR CREATE A FALSE IMPRESSION IN THEIR MINDS THAT YOU HAVE A SOUND FINANCIAL STATUS OR ARE REASONABLY COMMITTED TO DELIVER THE REPAYMENTS ON TIME. YOU ALSO REPRESENT THAT YOU HAVE NOT EVER BEEN ACCUSED OF ANY FRAUD, MISREPRESENTATION, CHEATING, OR DEFAULT IN REPAYMENT OF ANY CLAIMS OR MONIES TO ANY THIRD PARTY WHETHER A FINANCIAL INSTITUTION OR NOT. YOU ALSO REPRESENT THAT THERE ARE NO OUTSTANDING DISPUTES IN CONNECTION WITH YOUR MORAL TURPITUDE OR FINANCIAL STATUS. YOU HEREBY REPRESENT AND WARRANT TO FAIRCENT THAT YOU ARE LEGALLY COMPETENT TO EXECUTE, BE BOUND BY AND ADHERE TO TERMS AND CONDITIONS OF FAIRCENTPRO. YOUR USE OF THIS SITE IS SOLELY AT YOUR RISK. YOU AGREE THAT FAIRCENTPRO SHALL HAVE NO RESPONSIBILITY FOR ANY DAMAGES SUFFERED BY YOU IN CONNECTION WITH THIS SITE OR ANY CONTENT CONTAINED THEREIN OR ANY DAMAGE SUFFERED IN THE EVENT OF DEFAULT OR MISREPRESENTATION BY ANY OTHER USER OF THS SITE.

27. Limitation of Liability

UNDER NO CIRCUMSTANCES SHALL FAIRCENTPRO, ITS SUBSIDIARIES, EMPLOYEES, OFFICERS, AFFILIATES, DIRECTORS, AGENTS, SUPPLIERS, SHAREHOLDERS, NON EXECUTIVE DIRECTORS OR ITS LICENSORS INVOLVED IN CREATING, PRODUCING, TRANSMITTING OR DISTRIBUTING SERVICES ON THIS SITE, BE LIABLE FOR ANY DIRECT, INDIRECT, PUNITIVE, INCIDENTAL, SPECIAL, OR CONSEQUENTIAL DAMAGES THAT RESULT FROM EITHER MISREPRESENTATION, FRAUD, COERCION, BREACH OF TRUST, MISAPPROPRIATION, CHEATING OR FOR ANY OTHER SUCH REASON OF ITS END USERS OR OF THIRD PARTIES INCLUDING BUT NOT LIMITED TO LOSS OF PROFITS AND LOSS OF GOODWILL OR LOSS OF INTEREST.

28. Applicable Laws:

Your use of this Site and any Term and Conditions stated in this policy is subject to laws of India.

29. Jurisdiction

Courts of Gurugram will have exclusive jurisdiction of dealing with all disputes arising from use of this Site.

30. Trademarks

The trademarks, logos and service marks ("Marks") displayed on the Site are the property of FaircentPro and other respective persons. End Users are prohibited from using any Marks for any purpose including, but not limited to use as meta-tags on other pages or sites on the World Wide Web without the written permission of FaircentPro or such third party which may own the Marks. All information and content including any software programs available on or through the Site ("Content") is protected by copyright. End Users are prohibited from modifying, copying, distributing, transmitting, displaying, publishing, selling, licensing, creating derivative works or using any Content available on or through the Site for commercial or public purposes.

31. Changes to Terms and Conditions

FaircentPro reserves the right to change these Terms and Conditions of its Service without informing you. You should check our Site for any updated Terms and Conditions.

32. Miscellaneous

If any of these conditions are deemed invalid, void, or for any reason unenforceable, the parties agree that the court should endeavor to give effect to the parties’ intentions as reflected in the provision, and the unenforceable condition shall be deemed severable and shall not affect the validity and enforceability of any remaining condition. From time to time FaircentPro may offer special promotional offers which may or may not apply to your FaircentPro account. To avail of such promotional offers, you agree to be bound by any additional terms and conditions for these special offers which are laid down by FaircentPro. This T&C and the relationship between you and FaircentPro will be governed by the laws as applicable in India. Any dispute(s) arising out of this T&C will be handled in the competent courts of Gurugram, India. The failure of FaircentPro to act with respect to a breach by you or others does not waive its right to act with respect to subsequent or similar breaches. FaircentPro does not guarantee it will take action against all breaches of this T&C. Except as otherwise, expressly provided in this T&C, there shall be no third-party beneficiaries to this T&C. This T&C constitutes the entire agreement between you and FaircentPro and governs your use of the Site, superseding any prior agreements between you and FaircentPro with respect to the Site.

33. Payment Methods

You can pay FaircentPro using –payments services deployed by Faircentpro from time to time. Faircentpro has also deployed a system of electronic payment of fees, the details of which are available at www.Faircentpro.com

All transactions are processed

34. As per direction of the RBI at all times Faircentpro.com makes information available on its Site including, without limitation to, following information regarding borrowers to the lenders.

  1. (a) details about the borrower(s) including personal identity, required amount, interest rate sought and credit score as concluded by the REs, based on their own credit algorithm.
  2. (b) details about all the terms and conditions of the loan, including likely return, fees, and taxes, if any;
  3. (c) Faircentpro requires 4 references from the borrower’s professional or personal contacts for the purpose of verification of the borrower at the time of the disbursement of loan.
  4. (d) The references of the borrower may be contacted by Faircentpro.com or its designees to know the whereabouts and other details of the borrower in case the borrower for any reason is not reachable or not responding, despite attempts to contact him personally.
  5. (e) On behalf of the lenders and pursuant to the authority granted to it by the lendersvia consent molded in the Loan Agreement1, Faircentpro.com reserves the right to initiate legal proceedings against the defaulting borrowers to recover the loan amounts and interest for the benefit of the lenders.

The privacy of information shared by the borrower with Faircentpro.com is of utmost importance to Faircentpro.com, it does not share any personal information of any borrower with any third party unrelated to Faircentpro.com’s business unless such a disclosure is authorized by law, or the borrower has expressly consented to such a disclosure.

However, by accepting the terms and conditions, having consented to the Loan Agreement between the lender & borrower, the lenders and the borrowers have authorized Faircentpro.com to share concerned person’s personal information with Faircentpro.com’s partners, affiliates, employees and agents for administrative purpose. (The term agreement wherever it arises herein this clause it refers to the loan agreement executed between the borrowers and the lenders)

35. FaircentPro holds the complete right to de-activate any user on its own accord if the user is suspected or found to be from competition engaging or trying to engage in any malicious activity.

36. Virtual Signature

We have also introduced a system where the borrowers and lenders have the opportunity to electronically sign the Loan Agreement. Details about how to sign the Loan Agreement are available at www.faircentpro.com

37. For further questions related to borrowing kindly visit our FAQ’s section located at https://www.faircentpro.com.

38. FaircentPro is not liable for failure to perform any of its obligations if such failure is as a result of Force Majeure Situation e.g. Acts of God (including fire, flood, earthquake, storm, hurricane or other natural disaster, epidemic), war, invasion, act of foreign enemies, hostilities (regardless of whether war is declared), civil war, rebellion, revolution, insurrection, military or usurped power or confiscation, terrorist activities, nationalization, government sanction, blockage, embargo, labor dispute, strike, lockout, robbery, theft of data or any interruption or any failure of electricity or server, system, computer, internet or telephone service, or any other act beyond the control of FaircentPro.