1. LOAN

a) The loan (“Loan”) provided by the Bank shall be an amount as stated in the Sanction Letter.
b) The Borrower understands and confirms the disbursement of Loan by IDFC First Bank Limited formerly known as IDFC Bank Limited ("the Bank") on the Borrower’s behalf to the Dealer’s account, as per the details provided by the Borrower. The Loan may be disbursed in one lump sum or in installments as may be decided by the Bank and the Loan shall be repaid by the Borrower as per the T & C and Sanction Letter.
c) The borrower can't sell the product until the loan is paid. If the borrower intends to sell the product then he/ she should foreclose the loan first before selling the product.
d) The Sanction letter shall be read in conjunction with the provisions of this Terms and Conditions ("TnC") and in the event of any conflict in the terms of the aforesaid sanction letter and this Terms and Conditions, the terms of this Terms and Conditions will prevail over the said Sanction Letter, also the Bank shall be entitled to alter/vary/modify the terms and conditions of this Agreement or the Sanction Letter at any time by notice in writing to the Borrower or notifying the same on its website, either on its own accord or as may be required by any Statutory Authority

2. RATE OF INTEREST

a) The Borrower specifically agrees that the Loan shall carry interest at the rate specified in Sanction Letter.
b) The Bank shall be entitled to revise the rate of interest from time to time as per its policy and/or applicable laws and regulations, during the tenor of the Loan at its discretion. the Bank will inform the Borrower about the variation in the Rate of Interest, if any.
c) Any non-presentation/delayed presentation of the cheque due to any reason will not affect the liability of the Borrower to pay the EMIs on time. The Borrower shall replace the cheques/issue fresh cheques if so required by the Bank.
d) The Borrower may swap the PDCs with the consent from the Bank and on paying the Bank cheque swap charges.

3. TAXES

a) The Borrower agrees to pay to the Bank, any and all taxes, charges, duties as may be levied including stamp duty related to the Product, T & C and the Loan. The Borrower also agrees that the EMI shall automatically increase on account of any incremental tax or levy.

4. PAYMENTS

a) The Borrower agrees to repay the Loan to the Bank by EMI, on a monthly basis, on the scheduled due date, as per the mode of payment, specified in the Sanction Letter. The Borrower agrees that timely payment of EMI is the essence of the Loan.
b) The repayment of the Loan is by Post Dated Cheques (“PDCs”) or other mode of payment, the Borrower undertakes to honour all payments on the scheduled due dates and shall not instruct their bankers for stop payment. The Borrower shall be liable to pay cheque bounce charges for each cheque bounce/dishonour/other mode charges
c) The Borrower understands and agrees to the Bank method of calculating Equated Monthly Instalments (“EMI”) and agrees not to dispute the same, at any time in future,
d) The Borrower shall pay a non-refundable Processing Fee with upfront EMI as specified in the Sanction Letter OR non-refundable Processing Fee with upfront EMI shall be deducted by the Bank
e) The Borrower has executed by way of collateral security, Demand Promissory Note (DPN) for the repayment of the Loan along with interest thereon.

5. PRE-PAYMENT

a)The Borrower shall prepay the entire Loan amount in full, subject to the payments of prepayment charges on the outstanding balance, with prior written request from the Bank,
b) The Bank shall be at liberty to appropriate amount so prepaid towards prepayment of charges, interest, penal charges, other charges payable under the T & C and then towards the Loan amount or in any other manner that the Bank may deem fit and proper in its sole and absolute discretion.

6. CONDITIONS

The Borrower shall, prior to the disbursal of the Loan, have utilized his/her own contribution to the  cost  of  the  Product  less  Loan  availed  from  the  Bank. The Borrower shall not transfer the Product to any third party and maintain the Product in good order and condition during  the  currency  of  the  Loan. The Borrower shall upon change of residence immediately intimate to the Bank. The Borrower shall ensure that no part of the Loan is utilized for any illegal, immoral activities, gambling, lottery, speculative activities in nature.

7. BORROWER’S REPRESENTATIONS & WARRANTIES

a) All the documents provided by the Borrower are valid and binding.
b) The Borrower does not violate any terms and conditions under any existing agreement entered into by the Borrower with any third party, by availing the Loan from the Bank.
c) There is no action, suit, proceeding or investigation pending to the knowledge of the Borrower before any court of law or any competent authority which might have a material effect on the Borrower financials and/or might put into question the validity, enforceability or performance of the T & C.
d) The Borrower agrees and accepts the entire risk related to the transaction the Borrower had with the Dealer like non-performance, non-delivery, breach of warranty or supply of inferior or damaged Product and the Bank is not responsible for the same. In any such eventuality, the Borrower’ liability to repay the Loan disbursed by the Bank will be in total and continuous.
e) The Loan is repayable on demand made by the Bank with all the accrued interest and other charges.
f) The Borrower shall ensure that neither the Borrower nor any director/partner/member/trustee of the Borrower has been declared a willful defaulter; in case any director/partner/member/trustee has been declared a willful defaulter, the Borrower shall take expeditious steps for removal of such person.

8. SECURITY:

The Loan, interest, penal charges, fees and all other charges including but not limited to the Borrower’s outstanding payable to the Bank shall be secured by the Product on which the Bank shall have first and exclusive charge.

9. EVENTS OF DEFAULT

a) The Borrower commits any default, breach, misrepresentation under this T & C and/ or any other loan with the Bank.
b) The Product is damaged, stolen, confiscated, attached/taken into custody by any official authority, subject to any proceedings, or is disclaimed, endangered,
c) The Borrower dies, becomes insolvent/ compounds with his/her creditors or permits any attachment or confiscation or other process against any of his assets or properties,
d) Any circumstances in the opinion of the Bank that jeopardizes the Bank’s interest or security.

10. UNDERTAKING

a) The Borrower shall comply with applicable laws.
b) The Borrower shall use the Product for personal use only.

11. REMEDIES

a) Upon the occurrence of an Event of Default, the Borrower’s outstanding Loan shall forthwith become payable to the Bank. The Bank may recall the Loan with additional charges. The Borrower, undertake to forthwith surrender to the Bank/ its representatives/agencies, the Product or any other product of such value as approved by the Bank. The Bank/its representatives/ agencies shall be entitled to take possession and/or dispose the same and adjust the proceeds against the total dues. If there is any deficit, the same shall be made good to the Bank by the Borrower,
b) The Bank shall be entitled to encash PDCs/ ECS/ DPN any other electronic or other clearing mandate referred by the Borrower, until Loan is fully paid up.
c) The Bank shall be entitled to take recourse to other legal remedies (civil and criminal) under appropriate provisions of the laws.
d) The Borrower shall be liable for payment of all legal and other costs and expenses incurred in the exercise of the Bank’s remedies, including repossession of the Product/ any asset and recovery of Loan amount.

12. CLOSURE OF LOAN

Upon the Borrower's paying to the Bank all EMIs on the due dates or Loan amount and all other charges payable by the Borrower to the Bank under this T&C

13. NOTICE

Any notice or request required or permitted to be given or made under this Agreement to the Bank or to Borrower shall be given in writing or post. Such notice or request shall be deemed to have been duly on made when it shall be delivered by hand, e-mail or any other electronic mode , telegram to the party to which it is required or permitted to be given or made at such party’s addresses.

14.1. CONSENT OF DISCLOSURE/ PRIVACY

The Borrower have no objection for the disclosure by the Bank of all or any such: (a) information, obligations and data relating to the Borrower, Loan, T & C, Products/assets furnished by the Borrower including other credit facility granted/to be granted by the Bank; (b) information, data relating to default, if any, committed by the Borrower in discharge of its obligations to the Credit Information Company ( "CIC") or agency authorized by the Reserve Bank of India. CIC and/ or other agency so authorized may use and/or process the aforesaid information and data in any manner as deemed fit by them. CIC and/or other agency may furnish for consideration, the processed information and data or products thereof prepared by them, to the Bank and other credit guarantors or registered users, as may be specified by RBI. (c) The Borrower agrees that the Bank may share its mobile number and other personal information with the Borrowers’s mobile network operator and their third party agencies for verification, evaluation and assessment of the Borrower and neither the mobile network operator nor their third party agencies shall be responsible for obtaining a separate consent for collecting, processing or storing such information. The Borrower specifically grants his/her consent to such mobile network operators and their agencies to share the results of such assessment with the Bank for processing of the Borrower’s loan application, (d) The Borrower further acknowledges that the Bank may undertake periodic assessment and monitoring of the Borrower during the term of the loan and the Borrower grants his/her explicit consent to the Bank for receiving periodic information from the mobile network operator and their third party agencies for this purpose.
14.2 In the Event of Default, the Bank shall also be entitled to communicate in any manner it may deem fit, to or with any person or persons including guarantors, person giving reference to loan, with a view to procure assistance of such person or persons in recovering the defaulted amounts including but not limited to visiting the property and/or any place of work of the Borrower. In case of default in payment of EMIs, telecom operator may, upon receiving instructions from Bank, discontinue data and outgoing call services of your mobile connection until all due payments are regularized. Upon discontinuation of specified telecommunication services, telecom operator may activate pre-call announcements on your mobile connection. Borrower will / may be notified through any available means such as SMS, notifications and outbound calls regarding the consequence of discontinuation of telecommunications services. Borrower cannot combine or avail any other bundled telecommunication offer during the activation and subsistence of Telecom Offer tenure.
14.3 The Borrower agrees that the Bank may be required to disclose Borrower personal and financial information to the statutory authorities in connection with any legal process that may be initiated by such authorities in accordance with applicable laws.
14.4 The Bank discourages the Borrower from sending or posting to the Bank’s web site any information that the Borrower considers to be confidential or proprietary. Please note that if the Borrower do send or post any such information or material, the Bank will assume that it is not confidential. By sending or posting any information or material, the Borrower grant the Bank an unrestricted, irrevocable license to use, reproduce, display, perform, modify, transmit and distribute those materials or information, and the Borrower agrees that the Bank is free to use any ideas, concepts, know-how or techniques that the Borrower sends or post for any purpose on this web site.
14.5 The Borrower agrees that the Bank may also share Borrower information to provide Borrowers with superior services and a range of offers. The Bank may use this information to advise Borrowers about products, services and other marketing materials, which the Bank think may be of interest to Borrowers. The Bank further reserves the right to disclose the information to any third party if the disclosure of the same is for getting any additional service, products which may be beneficial to the Borrower, as per the sole assessment and discretion of The Bank.
14.6 The Bank will limit the collection and use of Borrower information only on a need-to-know basis to deliver better service to the Borrowers. The Bank may use and share the information provided by the Borrowers with its Affiliates and third parties for providing services and any service-related activities such as collecting subscription fees for such services, and notifying or contacting the Borrowers regarding any problem with, or the expiration of, such services. In this regard, it may be necessary to disclose the Borrower information to one or more agents and contractors of the Bank and their sub-contractors, but such agents, contractors, and sub-contractors will be required to agree to use the information obtained from the Bank only for the said purposes. The Borrower authorises the Bank to exchange, share, part with all information related to the details and transaction history of the Borrower to its Affiliates/ other banks/ financial institutions/ credit bureaus/ agencies/ participation in any telecommunication or electronic clearing network as may be required by law, customary practice, credit reporting, statistical analysis and credit scoring, verification or risk management or any of the aforesaid purposes and shall not hold the Bank liable for use or disclosure of this information. The Bank values relationship with Borrower and will at all times strive to ensure Borrower’s privacy.

15. Force Majeure

The Borrower shall be liable to perform or fulfil its obligations at all point of time and shall not delay/postpone performance, its obligations in whole or in part, even on the ground of any force majeure event such as acts of God, floods, cyclones, earthquakes, fires, wars, riots, strikes, orders of governmental or other statutory authorities, national emergency, or any other similar causes.

16. GENERAL

a) T & C is binding on the Borrower and the Bank on and from the date mentioned in the Sanction Letter.
b) The Borrower, his/her legal heirs, executors, administrators and successors shall be bound by this T & C. In case of death of the Borrower, the DPN given by the Borrower will be invoked against his/her legal heir/s and successors,
c) The Borrower shall not be entitled to assign his/her rights and obligations or terminate this T & C. The Bank shall be entitled to sell/transfer/assign, any or all its rights, benefits, duties and obligations including rights to receive installments and loan balance to other entity and for such assignment, the Borrower shall perform its obligations under this T & C to such assignee.
d) The Borrowers undertake/s to indemnify and keep the Bank indemnified in respect of breach of any of the T & C, Sanction Letter, Application Form and any other documents submitted by him/her (collectively referred as the Loan documents).
e) The Borrower agrees to execute, deliver and perform, any and all further acts or documents which the Bank may reasonably require to effectuate the purposes of this T & C.
f) Non-Waiver: - Any omission or delay on the part of the Bank shall not be deemed to constitute a waiver by the Bank of any of its rights under this T & C.
g) Governing law: - The Agreement shall be construed and governed as per The Borrower agrees that all claims, disputes or differences arising out of or in connection with this T & C, whether during or after the Borrower shall not transfer the Product to any third party and maintain the Product in good order and condition during the currency of the Loan. The Borrower shall upon change of residence immediately intimate to the Bank. The Borrower shall ensure that no part of the Loan is utilized for any illegal, immoral activities, gambling, lottery,
h) Arbitration: - The Borrower agrees that all claims, disputes or differences arising out of or in connection with this T & C, whether during or after the termination of the T & C, shall be referred to the sole arbitrator, appointed by the Bank, in accordance with the Arbitration and Conciliation Act, 1996 as amended from time to time. The place of arbitration shall be at Mumbai only. Pending the interim award, the Borrower shall be liable to perform its obligations under this T&C, including the payment of installments and other outstanding.

17. Except to the extent disclosed to the Bank

(I) all the Borrower's contracts or agreements with, or any commitments to, any affiliates or group companies(if applicable) are on arms' length basis;
(ii) (a) where the Borrower is an individual, he/ she is not a director or specified near relation of a director of a banking company;
(b) where the Borrower is a partnership firm/HUF/limited liability partnership firm, none of the partners or members of the HUF is a director or specified near relation of a director of a banking company; and
(c) where the Borrower is a joint stock company, none of its directors, is a director or specified near relation of a director of a banking company;
(iii)(a) where the Borrower is an individual, that he/ she is not a specified near relation to any senior officer of the Bank,
(b) where the Borrower is a partnership firm/HUF/ limited liability partnership firm, none of the partners or members of the HUF, is a specified near relation of any senior officer of the Bank, and
(c) where the Borrower is a joint stock company, none of its directors, is a specified near relation of any senior officer of the Bank. The Borrower agrees that the Bank has an unconditional right to revoke and/or recall the entire loan facility if the disclosure as mentioned in this clause is found to be false.

18. Authorization

I/We hereby authorize you and your associates, third parties and agents to contact me/us, for providing information about new products, offers, promotions etc. and also for receiving feedback or surveys etc. by way of email, sms, phone calls or by any other means of communication and expressly agree to exempt such actions by you or them for the purpose of Do Not Disturb guidelines issued by Telecom Regulatory & Development Authority (TRAI) or any other authority.

119. Customer is responsible for submission of complete documents, as per the checklist in the form, for processing his durable loan at the Bank before delivery of product. He/she has to ensure that his documents reaches the Bank Ops office.

20. The Borrower meets the Bank requirement of credit eligibility. The Bank shall be further entitled to modify and change any Pre-qualified offer on the sole discretion of the Bank basis credit eligibility of the Borrower from time to time

21. As instructed by the Customer, the Bank shall disburse the loan amount to the Dealer. It is the responsibility of the Customer to get delivery of the Product from the Dealer. In case the Customer returns the product to the Dealer for any reason (including defect/s in the product), customer is entitled to recover the cost of the product from the Dealer as per the terms and conditions agreed between the Dealer and the Customer. It shall not absolve the Customer from repaying the Loan already disbursed by the Bank to the Dealer. In case the Customer returns the Product to the Dealer and inform the Bank before disbursal of the Loan Amount to the Dealer, the Bank shall not disburse the Loan to the Dealer and shall close the loan account in the Books of the Bank. In both the cases, customer should get proper acknowledgment from the Dealer as to return of Products by the Customer to the Dealer and share the said acknowledgment with the Bank.

22. The Bank shall also be entitled to communicate in any manner it may deem fit, with the person/s or persons whose name is given for reference by the Borrower, with a view to get assistance of such person/s in recovering the Loan amount.

23. The Borrower acknowledges and agrees that the Bank is acting as a Lender and shall not be responsible or liable for any loss, claim, liability, or damage of any kind resulting from, arising out of, or in any way related to any communication/ arrangement between the insurance company and the Borrower. The Borrower understands, acknowledges and agrees that the Bank shall not be held responsible or liable for any loss, claim, liability, or damage arising out of insurance related issues on product bought under this Agreement.
23.1. In no event shall IDFC FIRST Bank Limited be liable to the Customer/ Borrower for any special, incidental, indirect, punitive or consequential damages whatsoever (including, without limitation, damages of loss of goods or services, or any other pecuniary loss) arising out of the use of, or inability to use, or avail the facility/defective product, including breach of warranty, negligence or other tortious action, or any other claim arising out of Borrower’s use of or access to the Product/ Policy /Facility.
23.2 Further, under the Terms and Conditions, IDFC Bank Limited shall have no liability to the Borrowers in respect of any loss or damage arising directly or indirectly out of: (a) any defect in any Product supplied; (b) delay in delivery or non-receipt of Product purchased; (c) acts done by IDFC FIRST Bank Limited on the instruction of any person impersonating himself/herself as a Borrower; (d) the exercise by IDFC FIRST Bank Limited of its right to terminate the Facility; or (e) any injury to the credit character and reputation of the Borrower alleged to have been caused by the termination of the Facility and/or the refusal of any Dealer to honor the Facility. (f) delay in payment by Payment Aggregator.
23.3 IDFC FIRST Bank Limited holds out no warranty or makes no representation about quality, delivery or otherwise of the Product and or polices .
23.4 Notwithstanding anything to the contrary contained herein or under any other transaction documents, the provisions of this clause (Exclusion of Liability) shall survive the termination of the Facility.
23.5 The Borrower acknowledges that the Application Form and the Terms and Conditions give rise to a debtor-creditor relationship between the Borrower and IDFC FIRST Bank Limited, and there is no service that is being provided by IDFC FIRST Bank Limited to the Borrower. Further the parties understands that the provisions of the Consumer Protection Act, 1986 shall not apply to the Application Form read with the Terms and Conditions

NOTE: a) the Bank is collecting the premium on behalf of the insurer and liability to pay any claim is solely of the insurer.
b) The policy cover will commence from date of acceptance of your insurance proposal by the insurer.
c) If your insurance proposal is not accepted by the insurer, the Bank shall refund the premium or adjust it against your outstanding EMI/ loan amount.31. The borrower is aware that this document is an electronic record in terms of Information Technology Act, 2000 and rules there under as applicable 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 signatures.32. Electronic communications shall be deemed to have been received by borrower when we send the electronic communication to the email address / mobile number / details provided by borrower or any other third party. Borrower undertakes that he will not hold Bank or Banks business partner’s/ service providers/ authorized third parties responsible for any such communications received from Bank/ its business partner’s/ service providers/ authorized third parties, nor will any such communication amount to spam, unsolicited communication or a violation of borrowers) registration on the national do not call registry. 33. The Borrower hereby expressly acknowledges and confirms that the Borrower has read, verified, understood, irrevocably agreed to and accepted and delivered all the terms and conditions contained in Clauses 1 to 33 (including sub clauses), schedule of charges, Standing Instruction (collectively, “Loan Documents") online by ticking / clicking /checking the "I agree" or "I agree and accept" or any similar icon/tab/option on the online system / Website / portal / platform of Merchant/ its agent/service provider as well as by entering the one time password ("OTP") provided to the Borrower's mobile number registered with the Bank, and that there is no requirement of Borrower's any other signature or physical signature on the Loan Documents or of the Borrower signing the Loan Documents in physical form. The Borrower also acknowledges that the execution of the agreement would be complete only once the same is accepted by the Bank.The Bank also does not require to sign the Loan Documents in any physical form. The Bank shall be deemed to have accepted and signed this document online by way of sending an email/ letter through its officer to the Borrower and attaching therewith the copy of this document.
d) Product shall mean consumer durables and/or other products and/ or services, including but not limited to any extended warranty on consumer durables and/or other products, as approved by IDFC FIRST Bank Limited, which is purchased and /or availed by the Borrower.
e) The Borrower agrees that IDFC FIRST Bank Limited by provided the facility to the borrower creates a relationship of debtor and creditor between the borrower and the Bank. Bank shall under no circumstances be regarded as a service provider in relation to the Product.
f) In no event shall the Bank be liable to the Borrower for any special, incidental, indirect, punitive or consequential damages whatsoever(including without limitation, damages of loss of goods or services or any other pecuniary loss) arising out of the use of, or inability to use or access the Facility or for any security breach or technical malfunctioning of the Bank's systems, including breach of contract or warranty, negligence or other tortious action, or any other claim arising out , the Borrowers use of or access to the facility.

For the purpose of stamp duty, any writing on a stamp paper or franked page associating the stamp paper or such franked page with this document will be as good as making the stamp paper/franked page an integral part of this document.