FINBUDCREDIT USER AGREEMENT
This Finbudcredit User Agreement (“Terms/ Agreement”) shall constitute a valid and binding contract between: (i) Finbudcredit / Ecom Academia First Bucket, a company registered under the provisions of the Companies Act 2013, and registered office at XI/1128-1182, First Floor, CMS Tower, Kollam, Kerala 690521 ( “Finbudcredit”, “we”, “us”, “our” or the “Company”, which expression shall unless repugnant to the context or meaning thereof, include its Affiliates, successors in interest and permitted assigns); and (ii) you (“you”, the “Customer” or the "User") regarding the use of the Application and/or Services.
SCOPE AND PRINCIPAL UNDERSTANDING
Finbudcredit is a technology service provider that operates the website ‘www.Finbudcredit.com’, connected software and applications including the mobile application and the infrastructure associated with it (“Application”). Finbudcredit, through the Application, enables fast, secure and easy transactions between Customers and Merchants. Finbudcredit enables Customers to pay for Merchant’s Products through either the interest-free deferred payment facility of Merchants or Financing Facility (collectively “Checkout Facility”).
Finbudcredit enables the Users to purchase the Products offered by the Merchants through the Application or through the Merchant’s shops, websites and mobile applications and pay the purchase price through the Checkout Facility (“Services”).
These Terms describe a contractual relationship between you and Finbudcredit regarding your (i) use of the Application; and/or (ii) the Services .
This Agreement is an electronic record in terms of Information Technology Act, 2000 and rules thereunder, and provisions pertaining to electronic records in various statutes as amended by the Information Technology Act, 2000. This electronic record is generated by a computer system and does not require any physical or digital signatures.
These Terms are a legally binding document between Finbudcredit and you. You agree to avail the Checkout Facility in accordance with the Terms and other Transaction Documents (defined below).
DEFINITIONS AND INTERPRETATION
In addition to the terms defined in the introduction to these Terms and other parts of these Terms, wherever used in these Terms, unless repugnant to the meaning or context thereof, the following expressions shall have the meanings set forth below:
“Affiliate” means in relation to any Party, a holding company, subsidiary company or group company which are under common control.
“Financial Partner” means banks, non-banking financial institutions, and other RBI regulated entities which enlist on the Finbudcredit Application to offer Financing Facility to the Users for purchase of the Products.
“Financing Facility” means a credit facility that the Financial Partners offer to Users for purchase of the Products on the Application.
“Financing Facility Transaction” means the purchase of Product by a User from a Merchant through the Financing Facility.
“Intellectual Property” means any intellectual property of Finbudcredit including but not limited to copyright including copyright applications and copyright arising from such applications, and trademarks, logos, patent, service marks, trade secrets, registered designs, design rights, rights of license, assignment, use, moral rights, rights of confidence in know how or technical or commercial information generally, rights in relation to databases, and include, but not limited to, information relating to research and development, discoveries, improvements, processes, know-how, drawings, blueprints, specifications, samples, formulae, notes, patents, copyrights, trademarks, and any other such rights or interests in intellectual property, developed by the Parties directly or through others, whether or not protected under any law in force.
“Loan Agreement” means an agreement between you and the Financial Partner which governs the terms of Financing Facility, if availed by you.
“Merchant(s)” means a person or entity who offer to sell the Products to the Users through the Application or through their shops, websites or mobile application, and partners with Finbudcredit to facilitate payments for Products.
“Merchant Facility” means an interest free deferred payment facility that a Merchant offers, in its sole discretion, to a User for purchase of Products from the Merchant.
“Merchant Facility Transaction” means the purchase of Product by a User from a Merchant through the Merchant Facility.
“Merchant Facility Transaction Cost” means the cost of Product (as indicated on the invoice for the Product) purchased by a User from a Merchant through the Merchant Facility and any other charges that User agrees to pay to the Merchant with respect to the facility.
“Successful Transaction” means a transaction in which (i) the User has made down-payment (if any) for a Merchant’s Product, (ii) the Checkout Facility has been offered to User and User has agreed to use it to make payment for Merchant’s Products, (iii) a Transaction Order ID and details of the purchase have been provided by the Merchant to Finbudcredit, and (iv) no Payment Review (if any) is pending.
“Transaction Order(s)” shall mean an order by a User to purchase a product/service from the Merchant, for which the User has agreed to use the Checkout Facility and no Payment Review (if any) is pending.
“Transaction Documents” include these Terms and Conditions, and any other document that you execute with or is issued by Finbudcredit/Merchant/Financial Partner in relation, or pertaining, to the Checkout Facility and each such Transaction Documents as amended from time to time. The Transaction Documents include the Loan Agreement.
“User Account” means an account created by you for the purposes of using the Application.
“Parties” means you and Finbudcredit, who are parties to these Terms.
“Policy” or “Policies” means any Policy or other agreement between you and Finbudcredit that is notified to you through the Application or you have accepted in connection with your use of the Services.
“Products” means goods and /or services offered by the Merchants through the Application or through Merchant’s shops, websites or mobile applications.