TERMS AND CONDITIONS FOR TRUE PAYLATER

This document is published in accordance with the provisions of Rule 3(1) of the Information Technology (Intermediaries Guidelines) Rules, 2011 which require the publishing of the rules and regulations governing the use and access of True Paylater (defined below).

INTRODUCTION

  • These terms and conditions (“T&C”) and all applicable policies which are herein incorporated by way of reference govern your rights and obligations as a user of the services provided by Truebalance (defined below) to True Paylater Users (defined below), while accessing and using the Truebalance mobile application and/or availing the True Paylater services as may be rendered by Balancehero India Private Limited, a company incorporated under the laws of India and having its registered office at 2nd Floor, Plot-121, Sector 44, Gurgaon-122003 (“Truebalance”). You agree and acknowledge that the True Paylater may be provided by Truebalance, through its partner merchants

 

  • By availing the True Paylater, you agree to be bound by these T&C, including any additional guidelines and future modifications issued by Truebalance from time to time. If at any time you do not agree with these T&C, you shall immediately cease your use of such True Paylater services. Truebalance reserves the right to amend these T&C, from time to time, without notice to you by posting revised T&C on the Truebalance website.

 

  • Your access to and use of the Truebalance mobile application and the True Paylater services are conditional upon your acceptance of and continuous compliance with these T&C at all times. By accessing, browsing and/or using the Truebalance mobile application and availing True Paylater services, you agree to be bound by these T&C, including all rules, guidelines, policies, terms and conditions applicable to the True Paylater services being provided by Truebalance (“Policies”), as may be modified by Truebalance from time to time, which shall be deemed to be incorporated in these T&C by reference, unconditionally and at all times. Truebalance shall have the sole right to change, modify, add or remove these T&C or any of its Policies relating to the provisions of access to the Truebalance mobile application and True Paylater services, at any time without any prior written notice or intimation. It is hereby clarified that you shall be responsible for reviewing the T&C and Policies on the Truebalance mobile application & website periodically and keep yourself updated with any change in the T&C and Policies.

II USER ELIGIBILITY

  • The access to the Truebalance mobile application and/or the True Paylater services is only available to persons who are competent to enter into legally binding contracts under the Indian Contract Act, 1872. Any person who shall be considered as incompetent to contract as per the provisions of the Indian Contract Act, 1872, including minors, un-discharged insolvents, etc., are not eligible to use the Truebalance mobile application and/or the True Paylater services.

 

  • It is hereby clarified that Truebalance shall provide the True Paylater services to only those users who are both competent to enter into legally binding contracts, as provided above, and also qualify under the internal policy(s) for the same determined solely by Truebalance from time to time (“True Paylater User”/ “you”/”your”). Truebalance shall have the sole right to change, modify, add or remove, in whole or in part, its internal policy(s) in relation to the provision of the True Paylater services of Truebalance, at any time without any prior written notice or intimation to the True Paylater Users and Truebalance shall have the right to not entertain any requests in relation to the same, from the True Paylater Users towards such True Paylater Services, without assigning any reason.

 

 

  • You hereby authorize Truebalance to register you with Truebalance in order to avail the True Paylater Services. Accordingly, in the event a True Paylater User is not already registered with Truebalance in relation to the other services rendered by Truebalance or does not have a True Paylater Account (defined below), Truebalance is authorized to register such True Paylater User, by creating the True Paylater User’s account with Truebalance in relation to the True Paylater services, offered by Truebalance (“True Paylater Account”). You cannot avail the True Paylater services unless you have an existing True Paylater Account. It is hereby clarified that all terms and conditions in relation to creation and use of the True Paylater Account as specified on the Truebalance mobile application shall be applicable in addition to these T&C.

III TRUE PAYLATER SERVICES

  • Truebalance provides to the True Paylater Users payment facilitation services for purchase of product or service available on Truebalance mobile app by merchant (“Partner Merchant”), wherein the True Paylater User shall be provided with the option to carry out transaction processing for all services and transactions like recharges, bill payments and merchant payments subject to guidelines/notifications issued by RBI from time to time and providing invoicing services and payment management systems in relation to the purchase of products or services from the Partner Merchant (“True Paylater Services”), subject to the maximum credit limit as provided by Truebalance.

 

  • In order to render the True Paylater services, Truebalance may partner with the Partner Merchant and/or third party banks or financial institutions, as may be determined by Truebalance, in its sole discretion.

 

  • The True Paylater User availing the True Paylater services shall be entitled to make payment of the purchase price of the products, subject to monetary limited specified by Truebalance (“Transaction Amount”). Truebalance reserves the right to amend such monetary limit as applicable to each True Paylater User, at its sole discretion, for any reason whatsoever.

PAYMENT

  • The True Paylater User hereby undertakes and agrees that for repayment of the credit amount, Truebalance shall auto deduct the credit amount from the Truebalance wallet of the True Paylater User on the 15th day of utilisation of the credit limit, in accordance with these T&C. The True Paylater User hereby undertakes and agrees to reload his/her Truebalance Wallet on or before the due timelines specified by Truebalance.

 

  • The True Paylater User shall have the option to pay the credit amount through the payment methods specified by Truebalance such as debit/credit card and net-banking, gift card or wallet, on or after 5th day of utilising credit limit. You hereby further agree to not use any payment method other than the payment methods prescribed by Truebalance for the purpose of paying the credit amount and/or any other amounts due and outstanding to Truebalance.

 

  • The True Paylater User hereby acknowledges and agrees that the by 15th day of utilising credit limit the due amount should be credited to Truebalance’s account. You hereby agree and acknowledge that you shall be solely liable for any delay caused in payment of the credit amount, due to the time taken for settlement and clearing of the credit amount from the account of the True Paylater User to the Truebalance account.

 

  • Truebalance shall issue a reminder to the True Paylater User in relation to the credit amount due and payable by such True Paylater User. In the event the True Paylater User fails to make the payments within the timelines, the True Paylater User shall be issued a written reminder within three days post the due date. The reminders shall be sent to your email address and/or mobile number. In the event you fail to make the payments within the period specified in such written reminder, Truebalance shall send you a final intimation by email informing you regarding the amounts so due and the steps Truebalance shall take to realise the same from you on behalf of the Partner Merchant and/or third party banks or financial institutions (“Final Payment Reminder”).

 

  • In this regard, you hereby agree and acknowledge that in the event the credit amount is not credited to Truebalance’s account by the due date, Truebalance shall have the right to impose of penalty of upto 01% per day of the credit amount for each day till such credit amount is credited to Truebalance’s account. You hereby undertake that you will not raise any objections against any imposition of penalty. Truebalance may at its sole discretion waive such penalty imposed on the True Paylater User.

 

  • You hereby consent and agree that Truebalance, acting on behalf of the Partner Merchant and/or the third party bank or financial institution, shall realise or set-off the credit amount from you after sending the Final Payment Reminder, by any 1 (One) of the following methods – Setting off the amounts due against any amounts lying in your Truebalance account; and/or By charging / debiting any other payment instrument (like a designated credit card account or a designated debit card account), held under your name; and/or Engaging any person(s), at your sole risk and cost, to collect the amounts due from you. In this regard, you hereby agree to undertake all necessary actions, as maybe requested by Truebalance and provide your consent for any deductions to be made in accordance with these T&C.

 

  • You hereby acknowledge and agree that Truebalance may share any and/or all the information provided by you to Truebalance to any service provider, financial institution and/or Governmental instrumentality for the purpose of providing the True Paylater services, including but not limited to realise the amounts due and payable to Truebalance by you in relation to the True Paylater services. Further, Truebalance may share any and/or all the information provided by you to Truebalance to any third party including any agency or bureau in relation to your default payment status and default in meeting your obligations in the manner contemplated in these T&C.

 

  • In the event a True Paylater User fails to pay the credit amount, Truebalance shall have the right to suspend or block the Truebalance Account of such True Paylater User and notify the Partner Merchant and third part banks/ financial institutions, as the case may be, regarding the suspension of the Truebalance Account of such True Paylater User.

SUBMISSION OF PERSONAL INFORMATION

  • You agree that the personal information such as name, address, contact number etc. (“Personal Information”) you provide to Truebalance upon registration and at the time of availing the True Paylater services and at all other times will be true, accurate, current and complete. You agree to maintain and update the Personal Information and to keep the Personal Information true, accurate and complete.

 

  • If you provide any Personal Information that is untrue, inaccurate, not current or complete, Truebalance has the right to suspend or terminate your Truebalance Account created on the Truebalance mobile application and refuse any and/or all use, either present or future, of the services of Truebalance, including True Paylater services, or any portion thereof. It is hereby clarified that Truebalance shall not be liable in any manner whatsoever for any loss or damage incurred by a True Paylater User or any dispute initiated by or against a True Paylater User, due any untrue, inaccurate, not current or incomplete Personal Information provided by such True Paylater User.

 

  • You hereby agree that the Personal Information provided by you to Truebalance at the time of registration on the Truebalance mobile application shall be collected, stored and used by Truebalance for the purpose of providing you efficient access to the Truebalance mobile application and True Paylater services. You hereby agree, acknowledge and grant your consent to Truebalance to share the contact information and other personal details, as may have been disclosed by the True Paylater User to the Partner Merchants and third party service providers engaged by Truebalance and you hereby confirm that you have no objection to receive promotional offers, deals, marketing material, promotional material and any other form of communications from Truebalance and/or the Partner Merchant in such form as may be determined by Truebalance in its sole discretion, including electronic communications.

CANCELLATION AND REFUNDS

  • In the event of cancellation or refunds in relation to a transaction undertaken by True Paylater User using True Paylater services, such True Paylater User will continue to be liable for paying the credit amount to Truebalance within the timelines specified by Truebalance.

 

  • You hereby undertake and agree to pay the credit amount, within the timelines specified, irrespective of cancellation/refund of a transaction. Truebalance hereby undertakes and agrees, that in the event of a cancellation/refund request being made by a True Paylater User in accordance with the terms of the Partner Merchant and/or third party banks or financial institutions, the refunded transaction amount (less cancellation charges, if any) (“Refund Amount”) shall be credited to the Truebalance Account of such True Paylater User, within the timelines agreed with the Partner Merchants and/or third party banks or financial institutions and subject to availability of funds of the Partner Merchant and/or third party banks or financial institutions.

 

  • You hereby acknowledge and agree that the Refund Amount can only be utilized by the True Paylater User to make payments to Truebalance in the future against the use of the True Paylater services from time to time. It is hereby clarified that the True Paylater User shall not have the right to transfer or withdraw the Refund Amount or use the Refund Amount in relation to any other services rendered by Truebalance. You hereby agree, acknowledge and confirm that the Refund Amount may be credited to a designated bank account or any other designated financial account (other than your Truebalance Account), solely at the discretion of Truebalance.

LIMITATION OF LIABILITY

  • The True Paylater User acknowledges that Truebalance’s liability with respect to the True Paylater services shall be limited and shall be as per these T&C. Truebalance reserves the right, in its sole discretion and without assigning any reason, to exclude certain True Paylater Users from availing the True Paylater Services in the future.

 

  • The True Paylater User agrees and confirms that the sole and exclusive responsibility and obligation of Truebalance is to ensure that the True Paylater services are being provided in compliance of all applicable laws, rules and regulations.

 

  • The True Paylater User acknowledges that the Truebalance mobile application and the True Paylater services are being provided on a ‘as is’ basis and may be interrupted while browsing, transacting, using or uploading information on the Truebalance mobile application. The True Paylater User further agree that Truebalance reserves the right to suspend the True Paylater services, forthwith without assigning any reason whatsoever, at the sole discretion of Truebalance.

 

  • The True Paylater User agrees that, if it does not agree to the applicability of any of the T&C and the Policies contained herein or other Policies on the Truebalance mobile application, then the only remedy a True Paylater User shall have will be to not use the True Paylater services and discontinue using its True Paylater Account. However, till such time that the True Paylater User uses the Truebalance mobile application and avails the True Paylater services it shall be deemed that the True Paylater User agrees to and shall continue to adhere and abide by the T&C and the Policies.

 

  • The True Paylater User agrees and confirms that the True Paylater services are being provided by Truebalance on a best efforts basis with all efforts to keep these valid and subsisting. Truebalance shall not in any manner be liable to a True Paylater User for failure or delay in providing the True Paylater services.

 

  • You assume the entire risk of using the Truebalance mobile application and the True Paylater services. To the maximum extent permitted by applicable law, in no event shall Truebalance be liable to you for any special, incidental, indirect, punitive or consequential damages whatsoever (including, without limitation, damages of loss of goods or services, loss of business profits, business interruption, loss of information, or any other pecuniary loss) arising out of the use of, or inability to use or access of the Truebalance mobile application and the True Paylater services or for any security breach or any virus, bug, unauthorised intervention, defect, or technical malfunctioning of the website, whether or not foreseeable and whether or not Truebalance has been advised of the possibility of such damages, or based on any theory of liability, including breach of contract or warranty, negligence or other tortious action, or any other claim arising out, of or in connection with, your use of, or access to, the Truebalance mobile application and the True Paylater services. Further, Truebalance shall not be liable to you for any temporary disablement, permanent discontinuance of the services by Truebalance or for any consequences resulting from such actions.

TERMINATION

  • Truebalance may forthwith terminate and/or suspend, in whole or in part, these T&C, the Policies and/or the True Paylater services provided hereunder, for any reason including for reasons of breach of these T&C and/or any of the Policies on the Truebalance mobile application. Your sole right to terminate these T&C and the Policies is by deleting your True Paylater account. In the event of termination of these T&C by Truebalance or the True Paylater User, the True Paylater User shall be liable to pay the amounts due to Truebalance under the terms of this T&C, as per the credit amount utilised by True Paylater User till the date of such termination.

DISPUTE RESOLUTION

  • Any dispute or claim relating to the True Paylater services, its enforceability or its termination under these T&C and/or the Policies shall be governed by the Arbitration and Conciliation Act, 1996, by a sole arbitrator appointed by Truebalance. The arbitration proceedings shall be held in English language at Gurugram. The courts at Gurugram shall have exclusive jurisdiction over any disputes relating to the subject matter herein.

NOTICES

  • All notices, requests, demands, waivers, complaints, queries and other communications required or permitted to be given hereunder in relation to the True Paylater services under these T&C, shall be emailed at  cs@balancehero.com, if to Truebalance and if to True Paylater User, it shall be to the address registered with Truebalance. Any other notices, requests, demands, waivers, complaints, queries and other communications arising out of any Partner Merchant and/or third party banks or financial institutions acts or omissions whatsoever, including but not limited to deficiency of service, quality, merchantability of products or services, shall be resolved between the True Paylater User and the Partner Merchant and/or third party banks or financial institutions only and Truebalance shall have no responsibility or liability whatsoever in this regard.

INTELLECTUAL PROPERTY

  • The True Paylater User acknowledges that Truebalance is the sole and rightful owner of the Intellectual Property and the True Paylater User agrees not to register, use or file in its own name or in the name of any other person or company any trademarks same or similar or resembling in any manner the Intellectual Property and not to associate the Intellectual Property with its own business, except for the purpose as specified in these T&C. In this regard “Intellectual Property” shall mean any and all property in any name, signature, word, letter, numeral or any combination thereof, software, Trademark, brand name, service mark, trade name, design, logo, know-how, trade secrets whether registered or not, belonging to Truebalance.

 

  • Nothing contained herein shall authorize a True Paylater User to use, display or exploit the Intellectual Property rights of Truebalance without the prior written consent of Truebalance and all content on the Truebalance mobile application and True Paylater services is the copyright of Truebalance except for third party content and any link to third party websites.

 

  • The information provided on the Truebalance mobile application is intended, solely to provide general information for the personal use of the reader, who accepts full responsibility for its use. Truebalance does not represent or endorse the accuracy or reliability of any information, or advertisements contained on, distributed through, or linked, downloaded or accessed from any of the True Paylater services contained on Truebalance mobile application, or the quality of any products, information or other materials displayed, or obtained by you as a result of an advertisement or any other information or offer in or in connection with the True Paylater services provided through the online technology platform.

GENERAL TERMS

  • These T&C and/or Policies may be varied, amended or modified, in whole or in part, by Truebalance at any time without notice to the True Paylater Users. The last amended version shall be available on the Truebalance mobile application at all times.

 

  • These T&C constitute a principal-to-principal relationship between Truebalance and the True Paylater Users and do not attempt to create any agency relationship. The True Paylater services are being rendered by Truebalance as an independent entity and nothing contained herein shall be deemed to create any association, partnership, joint venture or relationship of principal and agent or master and servant, or employer and employee between Truebalance and the True Paylater Users hereto or any affiliates or subsidiaries thereof or to provide either Truebalance or the True Paylater User with the right, power or authority, whether express or implied to create any such duty or obligation on behalf of the other party, i.e. either Truebalance or the True Paylater User.

 

  • Truebalance may assign, in whole or in part, the benefits or obligations of these T&C to its associate’s of affiliates of other group company, or any other company, in circumstances including but not limited to pursuant to a restructuring or re-organization or demerger of its organization or operations causing a change in management or something of the nature. Truebalance shall not require approval or consent of the True Paylater User, it can at its discretion provide an intimation of such assignment to the True Paylater Users. However, the True Paylater User shall not assign, in whole or in part, the benefits or obligations of these T&C, without the prior written permission of Truebalance.

 

  • Truebalance shall not be liable for its failure to perform under these T&C as a result of occurrence of any force majeure events like acts of God, fire, wars, sabotage, civil unrest, labour unrest, action of statutory authorities or local or central governments, change in laws, rules and regulations, affecting the performance of Truebalance, payment gateways or Partner Merchant.

 

  • Unless otherwise expressly stated, failure to exercise or delay in exercising a right or remedy, hereunder shall not constitute a waiver of the right or remedy or a waiver of any other rights or remedies, and no single or partial exercise of any right or remedy, hereunder shall prevent any further exercise of the right or remedy or the exercise of any other right or remedy.

 

  • The terms and provisions of these T&C, by their nature and content are intended to survive the performance hereof by any or all parties hereto shall so survive termination.

 

  • If any provision, hereunder becomes, in whole or in part, invalid or unenforceable but would be valid or enforceable if some part of that provision was deleted, that provision shall apply with such deletions as may be necessary to make it valid. If any court/tribunal of competent jurisdiction holds any of the provisions, hereunder unlawful or otherwise ineffective, the remainder shall remain in full force and the unlawful or otherwise ineffective provision shall be substituted by a new provision reflecting the intent of the provision so substituted.

 

  • The True Paylater User warrants that it shall not directly or indirectly solicit for employment, nor offer employment to, nor enter into any contract of services with any person employed by Truebalance.

 

  • By clicking on the tab/button/ checkbox of ” True Paylater” option or any other button/checkbox of similar nature, (i) you confirm that you are eligible under applicable law to contract (ii) you consent to conduct transactions, accept the T&C and Policies as displayed on the Truebalance mobile application (iii) you consent to receive communications, notices and information from us electronically, whether sent by e-mail or other electronic means. Electronic communications shall be deemed to have been received by you when we send the electronic communication to the email address / mobile number / details provided by you during the sign-up process as per our records, or when we post the electronic communication on the Truebalance website. You may opt-out of the electronic communications by unsubscribing to the electronic communications.

 

  • It is agreed and clarified that the arrangement set out by these T&C between Truebalance and the True Paylater Users is on a non-exclusive basis.