Credit Score
Credit 4 Loan, a proprietorship company having its registered office at 4, Dube Compund, D.N. Dube Road, Dahisar (E), Mumbai-400068 providing credit related solutions under the Brand name hereinafter referred to as "Credit 4 Loan" (which expression shall unless repugnant to the context or meaning thereof be deemed to mean and include its successors and assigns) of the ONE PART;
AND
You (hereinafter referred to as the “Client”) of the OTHER PART.

Credit 4 Loan and THE CLIENT(S) hereinafter individually referred to as a "Party" and collectively as the "Parties".

WHEREAS

Credit 4 Loan is in the business of providing various Credit advisory Services more particularly stated under Scope of services hereto and has a team of highly qualified and experienced professionals with domain expertise in providing such Services. The Client has approached Credit 4 Loan, and on the request of the Client, Credit 4 Loan has agreed to provide Services (as defined herein) and the Parties are therefore now desirous of entering into this Agreement, inter alia, to record the terms and conditions of their understanding and the scope and extent of Services (as defined herein) to be rendered by Credit 4 Loan. NOW THEREFORE, in consideration of, and subject to, the terms and conditions herein contained, each of the Parties hereto hereby agrees as follows:

1. Definitions

The following words and terms shall have the meanings set forth below:-

“Act” shall mean the Credit Information Companies (Regulation) Act, 2005 and the rules and regulations made therein.

“Authorized Personnel” shall mean the employees, officers, agents and/or representatives of Credit 4 Loan who need to know or have access to the Confidential Information (as defined herein) to discharge their duty as a part of Credit 4 Loan and whose possession of such Confidential Information (as defined herein) will not give rise to a conflict of interest or to any misuse whatsoever.

“Confidential Information” shall mean all information (including CIRs) whether written, in electronic form, or oral or digital or printed information which is provided and/or disclosed by the Client to Credit 4 Loan and/or its directors, officers, employees, consultants, representatives, directly or indirectly, including, without limitation, all personal documents and credit data and/or technical and/or business and/ or commercial and/ or financial data including that relating to the business of the Client, including Client Information (as defined under the Act).

“Credit Information Company or CIC” shall mean companies formed and registered under the Companies Act, 1956 and granted certificate of registration under CICRA.

“Credit Information Report or CIR” shall mean a report issued by the Credit Information Companies in India like CIBIL, Experian, Equifax etc., containing factual record of a borrower’s credit payment history compiled from information received from different Credit Institution’s.

“Credit Institution” shall means a banking company and includes –

a non-banking financial company as defined under clause (f) of Section 45-I of the Reserve Bank of India Act, 1934.
a corresponding new bank, the State Bank of India, a subsidiary bank, a co-operative bank, the National Bank and regional rural bank.
a public financial institution referred to in Section 4-A of the Companies Act, 1956.
the financial corporation established by a State under Section 3 of the State Financial Corporation Act, 1951.
the housing finance institution referred to in clause (d) of Section 2 of the National Housing Bank Act, 1987.
the companies engaged in the business of credit cards and other similar cards and companies dealing with distribution of credit in any other manner.
any other institution which the Reserve Bank may specify, from time to time, for the purposes of this clause.
“Credit Scoring” means a system which enables the Credit Institution to assess the creditworthiness and capacity of a borrower to repay his/her loan and advances and discharge his other obligations in respect of credit facility availed or to be availed by him/ her.

“Person” includes any individual, partnership, corporation, company, society, unincorporated organization or association, Hindu undivided family, joint venture company, joint stock company, trust or other entity, whether incorporated or not.

“Services” shall have the meaning ascribed to it under Clause 4 herein as may be amended or modified by Credit 4 Loan from time to time. The Services contain materials including, without limitation, graphics, layout, text, content, instructions, images, audio, videos, designs, advertising copy, trademarks, logos, domain names, trade names, service marks and trade identities, any and all copyrightable material (including source and object code), the "look and feel" of the Services; the compilation, assembly and arrangement of the materials of the Services; and all other materials related to the Services (collectively, the "Content"). The Services also provide functions and services for which you can register – such as to receive your Score planner for free, related analysis of information in connection therewith and, if you so choose, to participate in our valuable products and services.

Credit 4 Loan “Service Fee” shall mean the fees, costs, charges and expenses payable to Credit 4 Loan by the Client for Services to be rendered by Credit 4 Loan from time to time.

“Term” shall mean a period of six (6) months for Smart, Smart Plus & Express Smart Plus product from the date of acceptance of terms and conditions of this Agreement and/or any other extended period as may be mutually agreed between the Parties from time to time.

2. Scope of Services

The Services rendered by Credit 4 Loan are

Personal finance information management services focused on finding saving and right credit options for the Clients. tracking and collecting Client information, including but not limited to, credit score, loan and credit card monthly payment, total amount and interest rates, and product information, such as loan, eligibility, and requirement information from major banks. Use Credit 4 Loan’s best endeavours to improvise and/or rectify the Credit Scoring of Client. credit card monthly payment, total amount and interest rates, and product information, such as loan, eligibility, and requirement information from major banks. Provide advice to the Client in respect to the steps or precautions to be taken to maintain its Credit Scoring from time to time. Liaison with the CIC’s and/or Credit Institutions and rectify the CIR and/or Credit Scoring of Client.
Liaison with Credit Institutions to settle the past outstanding dues of the Client.
Use the best endeavors to promote the interest of the Client.
Review all the credit information provided by the Client during the Term of this Agreement.
File necessary letters with the CIC and/or the Credit Institution(s) challenging the negative items appearing on the Client’s CIR which the Client indicates are inaccurate, incomplete, obsolete, or unverified.
Follow-up and review all correspondence received by the Client from the CICs and prepare follow-up strategies accordingly. Such other services as mutually agreed between the Parties,
The services setout hereinabove shall be collectively referred to as “Services”.

Based on this information collection, Clients are presented with a view of his/her current key financial ratios on assets, debt and credit areas of personal finance, as well as, top loan and financing recommendations personalized to consumers profile and preferences using Credit 4 Loan’s proprietary technology and analytics, which information, alerts and updates may be presented to Clients in electronic form

. Credit 4 Loan hereby agrees to render the Services to the Client during the Term of this Agreement on the terms and conditions set out herein.

Under Smart Plus program Credit 4 Loan will make best endeavors for the removal of errors, misrepresentations, or unverifiable information, which appears on the CIR(s) of the Client procured from CIC or his/her Credit Institution by Credit 4 Loan on behalf of the Client for the purpose of enabling the Client to obtain financial assistance for such purposes as deemed fit. Credit 4 Loan will liaison with the CIC(s) and/or the Credit Institution from which the Client has availed the Credit Facility.

3. Service Fee

In lieu of the time, efforts and direct or indirect expenses incurred by Credit 4 Loan for rendering the Services to the Client, the Client shall pay a fee to Credit 4 Loan as mutually agreed between Credit 4 Loan and the Client. The Fees shall be payable by way of an account payee cheque drawn in favour of Credit 4 Loan or by way on internet banking/ debit card/ credit card on the payment gateway available on the Credit 4 Loan website. Credit 4 Loan hereby acknowledges receipt of the Fees from the Client subject to realization of the same.
There shall be no refund provided or cancellation accepted by Credit 4 Loan with respect to the Plan/s or Service/s

4. Duties and Obligations of Credit 4 Loan

Credit 4 Loan hereby undertakes that the information disclosed by the Client to Credit 4 Loan pursuant to this Agreement shall be used only for the purposes as contemplated under such Agreement. Credit 4 Loan shall make its best endeavors to render its Services to the Client and get the desired results for the Client.

At all times, during the Term of this Agreement, be compliant to the good industry practices followed by any institution or body performing similar functions or services and all the laws as may be applicable to it from time to time.

Credit 4 Loan declares and the Client acknowledges that by way of entering into this Agreement, Credit 4 Loan is by no means guaranteeing savings or the improvement of the Client’s credit history or Credit Scoring or procurement of financial assistance, since this is dependent upon various factors beyond its control.

5. Duties and Obligations of Client

The Client expressly agrees and undertakes to provide to Credit 4 Loan all his personal credit information and all such other details as solicited by Credit 4 Loan from time to time and that the rendering and fulfillment of Services by Credit 4 Loan is subject to valid, complete and accurate information being provided by the Client to Credit 4 Loan. Client is required to produce Credit 4 Loan with right documentary evidence for the claims he/she makes. Credit 4 Loan is under no obligation to verify information supplied by Client, but may do so at its sole discretion.

The Client further agrees that owing to a delay in performance of his/her obligations by the Client, Credit 4 Loan shall not be liable for the delay in fulfillment of its Services hereunder as a result of the same and the period of such Services shall be automatically extended for such period of delay on the part of the Client.

The Client agrees that it shall be his/her responsibility to provide a copy of all the correspondence with the credit institution, CIC’s and the CIR’s created by such CIC’s to Credit 4 Loan from time to time. However, the Client may also expressly request Credit 4 Loan to procure such reports from CIC’s on Client’s behalf, if the same is permissible under law and by the CIC’s. The Client also further agrees to promptly notify Credit 4 Loan of his/her communication with any credit institution, CIC’s during the term of this Agreement.

The Client agrees to immediately forward to Credit 4 Loan all the reports and other documents/communication received by the Client from the CIC’s. Credit 4 Loan shall not be responsible and/or liable for any deficiency in Services due to wrong information provided and/or misrepresentation made by the Client to Credit 4 Loan.

Subject to the same being permissible under law, the Client shall authorize Credit 4 Loan as his/her representative to liaison with the CIC’s on his/her behalf, if necessary, to request an investigation to verify the negative items/remarks in the Client’s credit records for the purpose of improvising and/or rectifying it. The Parties shall complete all the formalities and execute all necessary documents as may be necessary for such purpose.

The Client hereby acknowledges and undertakes that his/her relationship with Credit 4 Loan will be fiduciary in nature and on receipt of his/her CIR from a CIC, he/she shall identify in writing any such negative information which to the best of his/her knowledge is true and accurate so that such items are disputed with the concerned Credit Institutions.

The Client understands and acknowledges that Credit 4 Loan is not providing any legal advice to the Client nor is it rendering Services in the capacity of legal advisors. Further, it is expressly agreed by the Client that he/she shall not hold Credit 4 Loan responsible for any legal action that is taken by any creditor/lender against the Client either prior, during or after the Term of this Agreement. Credit 4 Loan makes no representations regarding the frequency with which it updates Client data and may at its discretion temporarily stop or permanently discontinue updating Client data at anytime.

The client shall immediately notify, Credit 4 Loan of any change of communication address.

6. Representations and Warranties

Credit 4 Loan hereby represents, warrants, undertakes and covenants to the Client that:

It shall perform the Services in good faith and in a professional manner.
It is free to enter into this Agreement and is not under any disability, restriction or prohibition which might prevent it from performing or observing any of its obligations under the said Agreement.
That no proceedings are pending against Credit 4 Loan which shall have material adverse impact on the implementation of this Agreement or on the obligations of Credit 4 Loan under the said Agreement.
Credit 4 Loan hereby represents and warrants that it has all the requisite expertise to perform the Services contemplated under this Agreement and shall make best efforts to rectify the Credit Scoring of the Client.
The Client represents, warrants, undertakes and covenants to Credit 4 Loan that:

The Client shall provide full co-operation, information, documentation and/or assistance as may be necessary for Credit 4 Loan to render its Services hereunder.
The Client shall comply with all reasonable requirements, specifications and guidelines agreed to between the Parties in the performance of its obligations under this Agreement.
This Agreement is a legal and binding obligation of the Client, enforceable against the Client in accordance with its terms, except to the extent enforceability is modified by bankruptcy and other similar laws affecting the rights of creditors generally and by general principles of equity.
The Client shall promptly provide and sign any other documents as may be considered necessary by the Client to effectively carry out provision of this Agreement.
The Client shall not disclose, reveal or make public, any information of whatsoever nature in connection with the terms of this Agreement.
The Client represents that the negative and disputed items/remarks in the CIR’s of the Client is, to the best of his/her knowledge, either incomplete, inaccurate, obsolete, unverifiable, or misleading. The Client agrees and acknowledges that Credit 4 Loan cannot guarantee the removal of items which are not incomplete, inaccurate, obsolete, unverifiable, misleading or incorrect. The Client further acknowledges that the considering the nature of Services and the discretion to rectify the same being in the hands of CIC and/or the Credit Institution(s), it is not feasible for Credit 4 Loan to predict or guarantee the outcome of such Services and/or the improvement in the Credit Scoring of the Client.
7. Confidentiality

Both Parties shall, at all times during the continuance of this Agreement and for a period of one (1) year following its termination (howsoever occasioned) or expiry, keep confidential the contents of this Agreement, as well as all the information disclosed to or obtained by the Parties from each other pursuant to the said Agreement. Such confidential information shall be used solely for the purpose of satisfying the obligations set forth in the Agreement. The provisions of this Clause shall be subject to any information required under a court of law or that available in public domain.

8. Savings Estimates

Credit 4 Loan may use its proprietary algorithm to calculate savings basis Client’s credit profile and the data Credit 4 Loan has on current credit products offered by banks/ other financial institutions.. Credit 4 Loan may use such other debt optimization techniques that may help the Client save money on his/her loans. Credit 4 Loan may provide the Client, figures and calculations of possible balance transfer costs, interest savings, value of rewards and bonus points, annual and application fees, estimated total savings and other information if the Client transfers Home loan balance; however, Credit 4 Loan provides such calculations for illustration purposes only. Such estimated figures are provided based upon our calculations and data only, and are neither endorsed nor commissioned by any of our partners or third-party advertisers. Credit 4 Loan does not warrant or guarantee the accuracy, adequacy, timeliness, reliability, completeness or usefulness of any such estimated calculations, and Credit 4 Loan disclaims liability for errors or omissions in any such estimated calculations.

9. Partner Offers

Through the Services, you may register to receive valuable offers for products and services from time to time from our partners (collectively, the "Partners"). The decision to provide information to us is purely optional; however, if the Client elects not to provide such information, the Client may not be able to access certain features or functions of the Services.

Credit 4 Loan will not share Client’s credit information report and score with its Partners. However, Credit 4 Loan will match offers from Partners against the Client’s Registration Profile (as hereinafter defined), which would include Client’s credit information report and score along with other targeting criteria, in order to ensure that the Client receives offers that are tailored to the Client’s specific needs. One of the underlying philosophies behind Credit 4 Loan business, as reflected in the "Credit 4 Loan" name, is that individuals who have through their efforts been able to maintain relatively good credit scores or who have worked hard to re-build their credit should be able to reap the rewards of those efforts, including by receiving discounted and favorable pricing and rates on the products and services that they enjoy. While Credit 4 Loan does not guarantee that the offers that the Client receives from Credit 4 Loan’s Partners will meet that goal, or that they will necessarily be the best offers available to the Client, Credit 4 Loan does represent and warrant to you that providing you with valuable offers for products and services from our Partners is one of the main animating objectives of Credit 4 Loan’s business. Credit 4 Loan’s technology for matching the Client’s Registration Profile to the valuable offers for products and services provided by its Partners is proprietary and, in carrying out such matching, Credit 4 Loan may elect to consider, ignore, emphasize, or de-emphasize any relevant factors in its sole discretion. Credit 4 Loan does not guarantee that the Client will receive offers for any particular types of products or services.

9. POWER OF ATTORNEY

It is agreed that if the Client choose purchase any of our products namely, Smart, Smart Plus and or Others which can be introduced or will introduce (“Products”) and utilize the Services in relation thereto, the Client hereby grants Credit 4 Loan, during the Term of this Agreement and for the period for which the Agreement continues to be renewed thereafter, a limited Power of Attorney (“POA”). Through this POA, the Client agrees to authorize Credit 4 Loan, by and/or through its authorized representatives to,:

at the time of registration, authorize Credit 4 Loan to pull your credit information report from any specified users or credit information company (as defined in the Act).
to do all acts on Client’s behalf as may be necessary including execute/ sign application(s), make payment of applicable fees; use the Client information provided periodically to Credit 4 Loan by the Client for provision of Services;
use Client’s name to send correspondence addressed to CIC’s, creditors, collection agencies and other holders of Client’s credit reports and other similar records (hereinafter collectively referred to as “Client’s Record Holders”);
to discuss information with any of the Client’s Record Holders to help resolve a debt if mediation of a debt is necessary; and generally to do all other acts as may be necessary to perform the Services.
The Client further understands that by entering into this Agreement he is authorizing Credit 4 Loan, once it has obtained his credit report(s) and score(s) for him at any time, to retain a copy of such credit report(s) and score(s) in its records along with the other information he is submitting through this registration form (collectively, the "Registration Profile"), to use that Registration Profile to match the Client with Products and services offers from time to time from its marketing partners, which offers it will send to him either by e-mail (based upon my communication preferences) or through the display of advertisements and to further use that Registration Profile to provide statistical analysis, reports and summaries of his Registration Profile in comparison to other users’ Registration Profiles. The Client understands that Credit 4 Loan will not be sharing his Registration Profile with any of those marketing partners and that it is completely up to him to decide whether he would like to accept any of the offers he receives.

The Client hereby agrees and confirms that the POA is valid throughout India for all Client information to be obtained by Credit 4 Loan in discharge of the Services under this Agreement.

The Client agrees that the Client may, at the request of the Credit 4 Loan, shall execute the separate power of attorney in the favour of Credit 4 Loan to deal with the specific Credit Institution.

The POA shall run co-terminus with this Agreement and shall be deemed to be terminated on termination of this Agreement.

It is clearly understood that Credit 4 Loan is not an agent of the Client and hence does not have the right to make any commitments or obligation on behalf of the Client to its creditors or third party.

10. Limitation of Liability

Credit 4 Loan declares and the Client agrees that notwithstanding anything contained in this Agreement, Credit 4 Loan shall have no liability to the Client, in contract, tort or otherwise, for any indirect or consequential losses, damages, costs, charges, expenses or otherwise, which the Client suffers or incurs arising out of or in connection with the provisions of or subscribing for the Services or use of the information provided by Credit 4 Loan or any reports or howsoever under or in connection with or incidental to the said Agreement or the implementation thereof.

11. Indemnity

The Client hereby undertakes and agrees to indemnify Credit 4 Loan and hold it harmless and keep it, at all times, fully indemnified and hold harmless from and against all actions, proceedings, claims, liabilities (including statutory liability), penalties, demands and costs (including, without limitation, legal costs incurred by Credit 4 Loan) awards, damages, losses and/or expenses, howsoever arising directly or indirectly as a result of any error, inaccuracy or misleading data or information contained in the personal or credit information furnished by the Client causing Credit 4 Loan to file infructuous letters to banks and financial institutions and thereby leading to loss of reputation of Credit 4 Loan.

12. Intellectual Property Information and Restrictions

Copyright:
The copyright in the content is held by Credit 4 Loan or by the original creator of the material and is protected by India and International copyright laws. The Client is permitted to use the content delivered to it through the Services only on the Services. The Client agrees that the content may not be copied, reproduced, distributed, republished, displayed, posted or transmitted in any form or by any means, including, but not limited to, electronic, mechanical, photocopying, recording, or otherwise, without the express prior written consent of Credit 4 Loan. The Client acknowledges that the content is and shall remain the property of Credit 4 Loan. The Client may not modify, participate in the sale or transfer of, or create derivative works based on any Content, in whole or in part. The use of the content on any other web site, including by linking or framing, or in any networked computer environment for any purpose, is prohibited without Credit 4 Loan's prior written approval. The Client also may not, without Credit 4 Loan's written permission, "mirror" any material contained on the Services on any other server. The Client may not reverse engineer or reverse compile any of the Services technologies, including but not limited to, any Java applets associated with the Services. Any unauthorized use of any Content on the Services may violate copyright laws, trademark laws, the laws of privacy and publicity, and communications statutes and regulations.


13. Notices and Communication

All notices and other communication under this Agreement shall be in writing and in English and either delivered by hand or sent by registered mail or by email or by facsimile in each case to the addresses given below:

If sent to Credit 4 Loan:

Credit 4 Loan
G-33, Zoom Plaza,
Gorai, L.T. Road,
Borivali (W),
Mumbai-400092
Email id: customercare@credit4loan.com

If sent to the Client:

All the communication to the Client would be sent to the address as disclosed by the Client in this Agreement

14. Term and Termination

Without prejudice to provisions of the consequences of termination given below, either Party may terminate this Agreement by giving prior written notice of atleast thirty (30) days declaring its intention of terminating the said Agreement.

15. Consequences of termination:

Upon the termination of this Agreement howsoever arising, each Party shall handover to the other Party or destroy, as may be directed by the owner, any copies or extracts of the documents, whether in digital, printed, electronic or in any other form, containing any data, confidential information and/or documents, reports pertaining to the Services nor shall the other Party make use thereafter of any confidential information acquired by the other Party during the Term of this Agreement.

It is expressly agreed between the Parties that if this Agreement is terminated for any reasons whatsoever, the Client shall pay to Credit 4 Loan proportionate Fees for the Services rendered by Credit 4 Loan upto the date of termination.

16. Governing Law, Jurisdiction and Arbitration

All disputes or claims between the Parties, hereto related to this Agreement, shall be settled through arbitration only, by the sole arbitrator sitting at Mumbai, who shall be solely appointed by Credit 4 Loan and the Client has no objection to the same. And for any other or further proceedings, the courts at Mumbai shall alone have exclusive jurisdiction in any matter between the parties.

Awards relating to any dispute shall be final, conclusive and binding on the Parties to such dispute as from the date they are made. The Parties agree and undertake to carry out any decision or award of the arbitrator relating to such dispute without delay, and further agree that there will be no appeal and/ or challenge in any Court of Law or other judicial authority.

17. Miscellaneous

(a) Entire Agreement

This Agreement represents the entire Agreement between the Parties hereto with reference to the subject matter hereof and supersedes, replaces and cancels any and all arrangements, agreements or understandings between the Parties, which may have been previously in existence with reference to the subject matter hereof.

(b) Amendment

The provisions of this Agreement may only be altered, modified or amended by an instrument in writing duly executed by the Parties.
(c) Partial Invalidity

If, at any time, any provision of this Agreement is or becomes illegal, invalid or unenforceable in any respect under any law of any jurisdiction, neither the legality, validity or enforceability of the remaining provisions nor the legality, validity or enforceability of such provision under the law of any other jurisdiction will in any way be affected or impaired.

(d) Assignment

The Parties shall not assign any of their rights under this Agreement to any person/entity.

(e) Further Assurances

The Parties agree to do all such further and other things, execute and deliver all such additional documents, to give full effect to the terms of this Agreement.

(f) Survival

The provisions of Clause 4 (Duties and Obligations of Credit 4 Loan), Clause 5 (Duties and Obligations of the Client), Clause 7 (Confidentiality), Clause 11 (Indemnity), Clause 13 (Notices and Communication), Clause 16 (Governing Law and Jurisdiction), of this Agreement shall remain in full force and effect and survive the termination of this Agreement.

(g) Binding Nature

The provisions of this Agreement shall be legally binding on the Parties hereto.

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