GAP Terms & Conditions

This GAP Terms & Conditions (“Product Terms”) is in relation to the PAN verification as Financial Products as per the Marketplace Terms executed between Signzy Technologies Private Limited, a company incorporated under the CompaniesAct 2013, having its corporate office at: Awfis, 8th Floor, One International Center (Tower 1), Senapati Bapat Marg, Lower Parel, Mumbai, 400013 (“Signzy”) and me (an individual) / us (a company/ Trust/ LLP/ Partnership/ Sole Proprietorship (“Subscriber”). The Subscriber and Signzy may individually be referred to as “Party” and collectively as “Parties”. The Product Terms hereunder shall be deemed to be a part of the Marketplace Terms and shall be legally valid and enforceable rights/ duties/ obligations of each Party. The following terms and conditions would be applicable on the GAP APIs as Financial Product, which the Subscriber has agrees to comply at all times-

WHEREAS

1. MMTC-PAMP is in the business of refining precious metals viz., gold and silver. It is manufacturing, buying, selling and dealing in gold and silver (bars and coins), and has launched a Gold Accumulation Plan (GAP as defined below) on its own Platform and through several Partner Platforms.
2. Signzy has partnered with MMTC-PAMP for listing of GAP on its Marketplace and channelling GAP Customers (defined below), by hosting of GAP (defined below) via various Subscriber Platforms (defined below) to provide requisite services for the effective implementation of GAP through Subscriber Platforms. As such, Signzy shall be aggregating and providing Usage Rights GAP to the Subscriber (as defined hereunder) through its Marketplace on whose Platforms, GAP shall be hosted.
3. The Subscribed has agreed that the MMTC PAMP, Subscriber and Customer Terms and Conditions (defined below) are prominently displayed the Partner Platforms at all times. The MMTC PAMP, Subscriber and Customer Terms and Conditions shall bind MMTC-PAMP, Signzy, Subscriber and the Customer.

Terms of GAP-

The following terms and conditions would be applicable on the GAP Product, which the Subscriber has agrees to comply at all times-

1. DEFINITIONS: The capitalized terms used in this GAP Terms shall have following meaning, which shall override conflicting definition provided under the GAP Terms:
   1. “Signzy Designated Account” shall mean the bank account owned, operated and maintained by Signzy and designated by Signzy, for receiving Signzy Service Charges and other amounts payable by MMTC-PAMP to Signzy under this GAP Terms.
   2. “Signzy Processing Centre” shall mean the Marketplace or technology platform of Signzy, acting as unified platform for MMTC and the Subscriber.
   3. “Signzy Services” means services of Signzy to be availed by MMTC-PAMP in respect of GAP and/or otherwise required to be provided by Signzy to MMTC PAMP for performance of and fulfilling its obligations under this GAP Terms and those under the Subscriber and Customer Terms and Conditions.
   4. “Alternate Designated Account” shall mean the bank account, other than the Collection / Designated Bank Account, which shall operated by Signzy for funds collections from GAP Customers of a particular Subscriber pursuant to this GAP Terms.
   5. “Business Day” means a day on which the scheduled commercial banks in India are open for business and “end of a business day” shall mean the time at the end of a Business Day when the banking business in India ends.
   6. “Confidential Information” shall mean all proprietary data, technical, nontechnical procedures / information, trade secrets, documents and/or materials etc. relating to the disclosing party and its affiliates, associates and subsidiaries, including without limitation any business information and business processes, services and affairs of business, finances, technology, contracts, software, business and strategic news or opinions, specifications, drawings, sketches, models, samples, reports, forecasts, current or historical data, computer programs, Intellectual Property, technical, marketing, financial and commercial information whether relating to past or current or future; any samples; formulations, specifications, data relating to manufacturing and quality control processes and procedures, advertising and marketing plans, any past, current or proposed projects or plans for future business, any information, documents, materials or records that contain or are derived from any confidential information, the terms and conditions of this GAP Terms and any other GAP Terms or documents which may be executed between the Parties, whether communicated I disclosed by the disclosing party and/or its affiliates, associates, subsidiaries, partners etc., in writing, orally, electronically, photographically, or recorded or in any other form, or which comes to the knowledge / possession of the receiving party, directly or indirectly.
   7. “Customer Data” shall mean all personal and sensitive information and other data / information about identified or identifiable individuals including Customer(s), including their names, gender, addresses, contact details, phone numbers, e-mail address etc.
   8. “Collection / Designated Bank Account” means the designated bank account opened and maintained by Signzy at a branch office of the Collection / Designated Bank at Mumbai for collection and management of funds receivable from Subscriber.
   9. “Collection / Designated Bank” means the bank in Mumbai, with whom the Collection / Designated Bank Account will be maintained and operated by Signzy.
   10. “GAP” shall mean the gold accumulation plan which shall be powered and provided by MMTC-PAMP on the Subscriber Platforms through its APIs or technology solutions, subject to the MMTC PAMP, Subscriber Terms and Conditions for enabling GAP Customers to carry out GAP transactions.
   11. “GAP Customers” or “Customers” shall mean an individual (human/natural person) having a GAP account on Subscriber Platform.
   12. “GAP Data” shall mean the data and information in relation to the Transaction, GAP Account, balance of Gold, Live Rate of Gold- Purchase and Sell Back published from time to time, Customer Charges and other pricing related information, queries, orders and other requests of Customer(s) on Subscriber Platform or otherwise captured by Subscriber Platform or Signzy Processing Centre, usage, behaviour, trends and other statistical information / data in respect to GAP on Subscriber Platform(s) relating to such Customer(s), Persons and entities, who access Subscriber Platform or otherwise get invitation to Subscriber Platform or correspond with Subscriber Platform / Signzy Processing Centre, and shall include all analysis and records based on such aforementioned information. For the avoidance of doubt, any list, description or other grouping of Customers or any derivative work shall form part of GAP Data.
   13. “Subscriber(s)” means Platform Provider providing an appropriate Subscriber Platform, though the Marketplace of Signzy .
   14. “MMTC PAMP,Subscriber and Customer Terms and Conditions” shall mean the terms and conditions of MMTC-PAMP for implementation and making available GAP on Subscriber Platforms, draft of which is annexed as Schedule 5 and includes any modifications and amendments thereto as may be made and communicated by MMTC-PAMP, from time to time at its discretion. It shall be compulsory for the Subscriber to be bound by the same and prominently display these Terms and Conditions on its Platform and further that the same shall have to be accepted by the Customer before commencing the transaction.
   15. “Subscriber Services” shall mean the services provided by the Subscriber. These shall include the providing of Subscriber Platform along with any other services to be offered and/or made available by Subscriber(s) to be availed by MMTC-PAMP and Customer(s).
   16. “Subscriber Platform” shall mean and include the platform(s) provided on various Subscriber’s websites, mobile applications, and other on-line electronic channels of communication owned and developed and deployed by Subscriber on which GAP will be made available and hosted.
   17. “Losses” shall mean all direct liabilities, penalties, settlements, damages, costs, fines, interest and loss (including without limitation interest, court costs, amounts paid in settlement, reasonable fees and expenses of attorneys irrespective of whether any of the foregoing is payable in cash, kind) incurred or suffered.
   18. “MMTC-PAMP Designated Account” shall mean the bank account of MMTCPAMP as designated by MMTC-PAMP for collection/transfer of funds from Collection / Designated Account/Alternate Designated Account.
   19. “Usage Rights” shall mean the right of Signzy hereunder to consequently provide the usage and/or access rights in GAP to the Subscriber by Signzy through GAP APIs/ software at Marketplace. Notwithstanding anything contained hereunder, the ‘Usage Rights’ does not provide Signzy or Subscriber the right to modify/ customise the GAP.
   20. “Territory” means the entire territory of the Republic of India.
   21. “Transaction” means every purchase, sellback to MMTC-PAMP, transfer to and from other GAP Customer(s), redemption and/or delivery transaction and other transaction in respect of Product / GAP, subject to terms of GAP Customer Terms and Conditions.
2. Interpretation: Except where the context requires otherwise, this GAP Terms will be interpreted as follows:
   1. The terms referred to in this GAP Terms, unless defined otherwise, or unless inconsistent with the context or meaning thereof, shall bear the same meaning as defined under the relevant statute/legislation.
   2. All references in this GAP Termsto any statutory provisions shall be construed as meaning and including references to:
   3. any statutory modification, consolidation or re-enactment for the time being in force;
   4. all statutory instruments or orders made pursuant to a statutory provision; and
   5. any statutory provisions of which these statutory provisions are a consolidation, re-enactment or modification.
   6. Words importing the singular shall include the plural and vice versa where the context so requires.
   7. References to any applicable Law shall include such law as from time to time enacted, amended, supplemented or re-enacted.
   8. Reference to any gender includes a reference to all other genders.
   9. References to any Person / Party include the successors and permitted assigns of that Person / Party.
   10. The rule of construction, if any, that a contract should be interpreted against the parties responsible for the drafting and preparation thereof, shall not apply.
   11. Reference to the terms “herein”, “hereto”, “hereof”, “hereunder” and words of similar purport refer to this GAP Termsas a whole.
   12. Words denoting the singular shall include, unless otherwise specified or unless repugnant to the context, the plural and words denoting any gender shall include all genders.
   13. References to Recitals, Articles, Clauses, Annexures or Schedules, unless the context otherwise requires, shall mean references to recitals, articles, clauses, annexure or schedules contained in this GAP Terms.
   14. Any reference to “writing” includes printing, typing, lithography and other means of reproducing words in permanent visible form, including in electronic form.
   15. Any reference to ‘API’ or ‘API batch’ shall include other technological advancements/ mechanism etc., as may be agreed by the SUBSCRIBER and MMTC-PAMP from time to time.
   16. The terms “include” and “including” shall mean, “include without limitation”.
   17. The headings/ subheadings/ titles/ subtitles to articles, clauses, sub-clauses and paragraphs are for convenience of reference only and shall not form part of the operative provisions of this GAP Terms, Annexures or the Schedules, and shall be ignored in construing the same.
   18. Any reference to day shall mean a reference to a calendar day.
   19. The Definitions and Interpretation also grant substantive rights or impose obligations on the parties, and the same would be construed accordingly.
   20. References to “law”, “laws” or to a particular statute or law shall be deemed also to include any and all Law.
   21. Any word or phrase defined in the body of this GAP Termsand not defined in Clause A (Definitions) shall have the meaning assigned to it in such definition wherever appearing throughout this GAP Terms, unless the contrary is expressly stated or the contrary clearly appears from the context.
   22. In case of any conflict in the provisions of the Product Terms and this GAP Terms, the terms and conditions specified in this GAP Terms shall prevail.

List of Annexures

Schedule 1             –               “Subscriber process flow and fun flow”

Schedule 2             –               “RECONCILLIATION AND SETTLEMENT”

Schedule 3             –               Process flow for handling Customer(s) complaints / escalations

Schedule 4             –               Branding &product guidelines

Schedule 5             –                MMTC – PAMP, SUBSCRIBER and CUSTOMER Terms and Conditions

SCHEDULE 1

A. Detailed Process Flow and Fund Flow in respect of Purchase of Product

B. Detailed Process Flow and Fund Flow in respect of Redemption of Customer Redeemable Products

C. Detailed Process Flow and Fund Flow in respect of Residual Sale Back and Open Sale Back

D. Detailed Process Flow for Customer to Customer Transfer

SCHEDULE 2

“RECONCILLIATION AND SETTLEMENT”

The Subscriber shall follow the below mentioned process for the reconciliation:

1. Subscriber to send T+1 Data to Signzy every working day. Subscriber to share data with Signzy over SFTP Location, email and their merchant/seller panel.
   In case of incomplete or inaccurate data share by Subscriber with Signzy, the Subscriber would share the correct information at the latest within 3 (three) days.
2. Signzyreconciliation team runs the data in SQL using pre-written code and reconciles the two data sets.
3. Signzy reconciliation team checks and sends out the output reports to the Subscriber. These reports are used by the Signzyteam to process payments and escalate exceptions.
4. Payment deduction communication is sent to Subscriber in all cases where We Sell/Customer buy payment from Subscriber is pending for over 3 days.
5. Signzy process the payments through MMTC-PAMP and order data is sent to Subscriber. (We Buy/ Customer Sell payment to Subscriber is made for Transactions that have a settlement date and reconcile in the reconciliation system)
6. Subscriber shares the data for all exception related Transactions (Any transactions standing in exceptions payment will be processed only once transactions reconcile successfully between MMTC-PAMP and Subscriber)
7. Call to be held between MMTC-PAMP and Partner daily to go over any open exceptions.

SCHEDULE 3

Chargeback and fraud handling process

Fraud Handling

In case a fraud transaction happened on Subscriber Platform, following process is to be followed to resolve it:

Fraud Notification

• If MMTC-PAMP/ Signzy receives the Customer complaint/Cybercrime FIR, the same shall be notified to Subscriber.
• In few cases, victim or cybercrime may reach out directly to Subscriber as well.
• In both the above cases, basis the above-mentioned information, Subscriber to block the fraudster’s account.

How to treat the fraud transaction when fraudster has Gold balance

• Once Subscriber receives the FIR directly from the cybercrime department with victim details then Subscriber shall immediately block the fraudster’s account and intimate the customer that pending criminal investigation the account has been blocked and that the account would be unblocked as and when so directed by any competent court and/or the cybercrime department/police authorities . Subscriber to confirm the same cybercrime department and keep MMTC and Signzy informed of this.

What action to be taken if Gold balance is not in fraudster account

• If the fraudster has already liquidated the Gold and taken money into his/her account then same needs to be notified to the cybercrime department along with the complete details available of the fraudster.
• In none of the above cases, transactions will be cancelled.

SCHEDULE 4

BRAND, LOGO AND PRODUCT GUIDELINES

All marketing campaigns to be at Subscriber discretion and can be informed to Signzy prior to any marketing campaigns, for example: Your social media calendar (What Ad is coming where?)

1. The scripts of all forthcoming radio/TV ads, in case any are already scheduled.

Following is a short list of do’s and don’ts which can be used as Standard Guidelines by your Design Team:

(B) Co- Branding and logo guidelines

2. Wherever you are using our company name.
3. Product description etc.

Following is a short list of do’s and don’ts which can be used as Standard Guidelines for your marketing materials.

SCHEDULE 5

MMTC – PAMP, SUBSCRIBER and CUSTOMER Terms and Conditions.

These Terms and conditions bind MMTC-PAMP,the SUBSCRIBER and the CUSTOMER ( PARTIES).These “Terms and Conditions”(“Terms”) constitute an electronic record within the meaning of the applicable laws. This electronic record is generated by a computer system and does not require any physical or digital signatures. These Terms shall be in addition to and not in derogation to any other terms as stipulated from time to time between one or more of the Parties.By the Hosting/Displaying/Publishing of these Terms and Conditions on the Platforms (website, mobile apps, others) MMTC-PAMP and the SUBSCRIBER are agreeing to and accept the same. By using this facility on the SUBSCRIBER Platform  (the Platform on which these conditions are hosted/displayed). By accessing and transacting on the Platform the CUSTOMER agrees to and accepts these Terms and Conditions.

1. In these Terms and Conditions references to:
   (a) “GAP” shall mean Gold Accumulation Plan as hosted on the SUBSCRIBER Platform.(b) “SUBSCRIBER” shall mean an Entity who shall provide a Platform on which the GAP shall be hosted and where the Customer(s) would visit to access and transact/undertake the activity of buying/redeeming/selling back Gold.(c) “SUBSCRIBER PLATFORM” shall mean websites, mobile apps and such other electronic Platforms belonging to the SUBSCRIBER including all contents, services and technology offered through the Platform and where the GAP is hosted for use by the Customer and where these Terms and Conditions are hosted/displayed/published.(d)  “Transfer” shall mean a facility to transfer Gold from a Gold account of a CUSTOMER to the Gold account of another CUSTOMER(s).(e) “You/you/Your”, or “CUSTOMER” shall mean the Counter Party who transacts using the SUBSCRIBER Platform, being a natural person, buying Gold, redeeming Gold in the form of Redeemable Products, selling back Gold to MMTC-PAMP. “including all contents, services and technology offered through the Platform.(e) we”, “us” and “our” shall mean MMTC-PAMP India Private Limited.(f) “Service Providers”  shall mean independent third party service providers to MMTC-PAMP or the SUBSCRIBER.

2. We reserve the right to change these Terms at any time. Such changes will be effective when posted on the Platform and shall be deemed to be notified to the CUSTOMER accordingly. Notwithstanding anything contrary, CUSTOMER shall be responsible for regularly reviewing the Terms and Conditions including amendments thereto as may be posted on the Platform and shall be deemed to have accepted the amended Terms and Conditions by continuing the use of the Platform.
3. MMTC-PAMP/SUBSCRIBER shall be entitled to collect and store relevant information and documents provided by the CUSTOMER for cumulative lifetime purchases of Rs. 50,000/- and above and subsequently from time to time.
4. As and when required by MMTC-PAMP / Subscriber, the CUSTOMER will be required to provide additional documents for fulfilling the KYC requirements. You authorize MMTC-PAMP and SUBSCRIBER to make such enquiries as they may feel necessary to satisfy themselves about the validity of Your identity. You undertake to update MMTC-PAMP and SUBSCRIBER in case of any change(s) in Your existing information or verification documents provided by you.
5. You shall be responsible for the correctness of information to MMTC-PAMP / SUBSCRIBER from time to time. If you have reasons to believe that there is an error in the information furnished to MMTC-PAMP / SUBSCRIBER You shall immediately advice MMTC-PAMP / SUBSCRIBER in writing and forthwith provide correct / updated information.
6. We reserve the right to terminate any Gold account, with or without notice to you, in the event the KYC documents / information are found to be incorrect or authenticity of the documents / information is found to be doubtful. You hereby undertake to indemnify and keep indemnified MMTC-PAMP and SUBSCRIBER against any and all losses, claims, liabilities costs etc. which may arise out of, or relating to, Your failure to identify yourself and validate Your account promptly and / or due to any incorrect KYC documents / information.
7. You can offer to buy Gold worth Rs. 1.00 (Rupee One Only) and above incremental value(s) thereof, at the live purchase price of Gold of 999.9 purity displayed on the Platform.
8. Payment will be accepted through Your  Card,Wallet, UPI or such payment options as May be made available on the Platform. At the time of purchase / redemption / sale-back / transfer of Gold, the relevant taxes will be chargeable as applicable and in accordance with  the Government regulations.
9. At the time of redemption, the CUSTOMER can select a Product for redemption from the Catalogue of Redeemable Products . The Catalogue shall contain the list and particulars of these Redeemable Products will be hosted on the Platform. The list of Redeemable Products may be altered, changed and amended by MMTC-PAMP from time to time at its sole discretion.
10. At the time of redemption in physical deliverable Product form, the CUSTOMER will pay additional manufacturing and delivery charges and the applicable taxes on the same. The Redeemable Product selected from the Catalogue, for delivery shall be subject to availability of stock with MMTC-PAMP.
11. For each confirmed purchase of Gold by the CUSTOMER , MMTC-PAMP will be the Custodian of the Gold, till:
    (a)sell-back by the CUSTOMER,(b) redemption by the CUSTOMER, or(c) expiry of Custody Period. For the purpose of this clause, ‘Custody Period’ shall mean a period of 5 years from each separate purchase of Gold by the CUSTOMER. The Gold purchased by You or transferred to Your Gold account will be allocated and stored in a highly advanced and secured vault of MMTC-PAMP, with full insurance cover. If You redeem Your Gold after the Custody Period, additional charges will be levied.

12. The CUSTOMER will have the option of redeeming and asking for physical delivery of the full or part of the accumulated Gold holding, in the form of Redeemable Products starting from 1 (One) gm and above. The residual fractional Gold remaining, upon redemption / Transfer by You of the entire Gold holding, can be sold back by You to us at the live sell-back price of Gold of 999.9 purity and the corresponding amount against the residual fractional Gold sold by You will be credited to your designated Bank Account.
13. The CUSTOMER cannot buy and redeem Gold on the same day.
14. You need to pay the applicable making and delivery charges in order to redeem the Redeemable Product of Your choice.
15. Once the redemption has been initiated by You and payment received, then Your Gold grams will be debited accordingly from Your Gold account.
16. MMTC-PAMP may also, from time to time in future, offer/permit the CUSTOMER to sell-back its Gold in fraction(less than one gram) to MMTC-PAMP at prevailing live sell-back price of Gold of 999.9 purity, during the offer period as may be announced / permitted by MMTC-PAMP. The money against the fractional Gold sold by a CUSTOMER would be credited to the CUSTOMER.
17. Live purchase price of Gold will be displayed on the Platform and is subject to change from time to time. At the time You make request for redemption / sell-back, the value of Gold / quantity of Gold to be redeemed / sold back will be displayed based on live sell-back price of Gold. The live purchase price of Gold and live sell-back price of Gold may vary and also may be different from that available in the open market and/or in any other retail outlet. Your offer may be rejected irrespective of whether an item has been earmarked/wish listed by a CUSTOMER. In such an event, if You still wish to offer to purchase Gold or sell-back residual fractional Gold, You may make another offer at the changed price. MMTC-PAMP disclaims any and all claims and/or liabilities arising from such non acceptance of offer or revision in prices.
18. While availing any of the payment method/s available on the Platform, MMTC-PAMP/SUBSCRIBER will not be responsible or assume any liability, whatsoever in respect of any loss or damage arising directly or indirectly to the CUSTOMER due to:
    1. Lack of authorization for any transaction/s,
    2. Exceeding the pre-set limit mutually agreed by and between the CUSTOMER and concerned Banks of the CUSTOMER,
    3. Any payment issues arising out of the transaction,
    4. Illegitimacy of the payment methods (credit/debit card frauds etc.) being used by a CUSTOMER,
    5. Temporarily discontinuation of invitation to offer,and / or
    6. Decline of transaction for any reason(s) whatsoever.

19. MMTC-PAMP may, at its discretion, prescribe maximum individual/cumulative limits for Customers to accumulate Gold or transfer Gold through this scheme from time to time, and reserves the right to refuse to accept order exceeding such limit.
20. At any point of time on any day MMTC-PAMP may temporarily discontinue the invitation to offer for any reason whatsoever.
21. MMTC-PAMP will, at its discretion, close down Gold account of Customers, if;
    1. they are “Inactive accounts”,
    2. their Custody Period has expired and / or
    3. if MMTC-PAMP decides to discontinue the scheme.

    In such an event, Customers will be required to redeem and / or sell-back their Gold holdings. In the event the CUSTOMER chooses not to respond, then

    1. in case of expiry of Custody Period, MMTC-PAMP reserves the right to repurchase the Gold holding of the CUSTOMER at the then prevalent live sell-back price, after deducting applicable charges and taxes,
    2. in case of Inactive GAP account, MMTC-PAMP reserves the right to repurchase the Gold holding of the CUSTOMER, on the expiry of Custody Period, at the then prevalent live sell-back price,
    3. in case of discontinuation of scheme by MMTC-PAMP, MMTC-PAMP reserves the right to repurchase the Gold holding of the CUSTOMER, on the expiry of Custody Period, at the then prevalent live sell-back price

    For the purpose of this Clause ‘Inactive Account’ shall mean an account in which there has not been any transaction for a period of 6 (six) months or more.

22. All the proceedings of such buy back (as stipulated in the preceding clause no.21) by MMTC- PAMP shall be kept in a dedicated GAP account and the CUSTOMER or the CUSTOMER’s successors can claim it after providing sufficient proofs (legal right to succession,Id, relationship etc).
23. The CUSTOMER will not be entitled to make an offer if the postal PIN CODE of delivery address is outside the  serviceable areas. At the time of redemption, the CUSTOMER will be required to provide full delivery address.
24. All Redeemable Products selected for for redemption by the  CUSTOMER for shall be delivered in the servicibleares within India as per the  instructions of the CUSTOMER through our logistics partners. All deliveries where applicable shall be made on a best efforts basis, and while MMTC-PAMP will endeavor to deliver the Products on the dates intimated, MMTC-PAMP disclaims any claims or liabilities arising from any delay in this regard.At the time of delivery, the CUSTOMER shall immediately open the Package and satisfy himself about the contents in the presence of the delivery Boy. Any complaint post delivery shall not be entertained by MMTC-PAMP/SUBSCRIBER.
25. The logistics partner of MMTC-PAMP will make a maximum of three attempts to deliver Your order. After three attempts MMTC-PAMP Redeemable Product/Gold coin will be delivered back to MMTC-PAMP and the CUSTOMER will need to put a fresh request for the redemption.
26. MMTC-PAMP shall not be liable / responsible, in any manner whatsoever, for any loss / liability arising out of or relating to any technical failure / issue in Platform and / or acts / omission not attributable to MMTC-PAMP.
27. Notwithstanding anything contrary contained herein, the service, the interface and API work, and their respective information, pricing and data, and availability are subject to at any time and from time to time to human, mechanical , typographic, or other errors, oversights, mistakes, limitations, delays, service interruptions, including, without limitation, as may be due in whole or in part to, related to or arising out of computer hardware and software, telecommunication and operating systems, databases, or business processes and procedures, other problems inherent in, or which may be associated with, the use of the internet and electronic communications including, without limitation, force majeure event , Government / Regulatory actions, orders, notifications etc. and / or and acts and omissions of third parties etc. affecting or impacting the service, the interface or the API work, its information and data, or such communications. CUSTOMER acknowledges and agrees that MMTC PAMP is not responsible or liable whatsoever for delays, failures, or other loss due to, caused by or resulting from any such problems, in whole or in part. If Your Gold account is over credited or wrongfully credited / debited, then MMTC PAMP has the right to reverse / cancel without notice, or may require cancellation / reversal of such transaction at its sole discretion and debit / credit the Gold to / from Your Gold account, as the case may be. MMTC-PAMP shall not be liable for any wrong transfer of Gold by you to another account (including but not limited to transfer to a different user / CUSTOMER etc.) and the Gold grams shall not be reversed to you in case of an erroneous transfer and / or in case the transferee has already transacted the Gold transferred.
28. Upon MMTC-PAMP confirming the purchase, redemption, sale-back of Gold by CUSTOMER in his / her Gold account , the order / request of CUSTOMER to purchase / redemption / sale-back / transfer, as the case may be, shall be binding on the CUSTOMER and cannot be cancelled.
29. The CUSTOMER shall inform immediately, in any case no later than [30] days of the transaction, of any irregularities or discrepancies that may exist in his/her Gold account, failing which it shall be deemed that there is no error or discrepancies in the account. All records maintained by MMTC-PAMP, in electronic or documentary form of the instructions of the CUSTOMER and such other details (including, but not limited to payments made or received) shall as against the CUSTOMER, be deemed to be conclusive evidence of such instructions.
30. The CUSTOMER understands and acknowledges that any purchase, redemption, sale-back or transfer from / to Gold account will be on instructions received from the CUSTOMER, and the CUSTOMER will not violate any applicable laws or regulations for the time being in force in or outside India. The CUSTOMER shall be responsible for complying with applicable laws in respect of purchase, redemption, sale-back to and from the Gold account including but not limited to the Prevention of Money Laundering Act, 2002, the Prohibitions of Benami Property Transactions Act, 1998, Income Tax Act, 1961 etc including amendment thereof. CUSTOMER also agrees and undertakes that he /she will not open any account in the name of any minor. MMTC-PAMP will not be liable in any manner in this regard.
31. The CUSTOMER feedbacks pertaining to products shall be deemed to be non-confidential and non-compensatory in nature. MMTC-PAMP reserves the right, at its sole discretion to use such information for its internal purposes.
32. In the event of termination / expiry of MMTC-PAMP’s arrangement with SUBSCRIBER or otherwise at any point of time, it may be neccessary to migrate Your Gold account to an alternative platform and continue with Gold account on such alternative platform (as decided by MMTC-PAMP). MMTC-PAMP/SUBSCRIBER shall also be entitled to notify the CUSTOMER for redemption of the products if that were to happen.
33. These Terms shall be governed by and interpreted and construed in accordance with the laws of India. The courts in New Delhi shall have exclusive jurisdiction in respect of any matters arising therefrom.
34. In the event any dispute arises out of or in connection with the Terms herein, including the validity hereof, the parties hereto shall endeavor to settle such dispute amicably in the first instance. The attempt to bring about an amicable settlement shall be treated as having failed as soon as one of the parties hereto, after reasonable attempts (which shall continue for not less than 15 fifteen calendar days), gives a notice to this effect, to the other party in writing.
35. Waiver:Any failure or delay by MMTC-PAMP/ SUBSCRIBER to enforce or exercise any provision of these Terms and Conditions or any related right, shall not constitute a waiver by MMTC-PAMP/SUBSCRIBER of that provision or right. The exercise of one or more of a MMTC-PAMP/SUBSCRIBER’s rights hereunder shall not be a waiver of, or preclude the exercise of, any rights or remedies available to MMTC-PAMP under these Terms or in law or at equity. Any waiver of any provision shall only be effective if made in writing and executed by a duly authorized officer of MMTC-PAMP.
36. Force Majeure:If performance under these Terms by MMTC-PAMP/SUBSCRIBER is prevented, restricted, delayed or interfered with by reason of labor disputes, strikes, acts of God, floods, lightning, severe weather, shortages of materials, rationing, inducement of any virus, Trojan or other disruptive mechanisms, any event of hacking or illegal usage of the Platform, utility or communication failures, earthquakes, war, revolution, acts of terrorism, civil commotion, acts of public enemies, blockade, embargo or any law, order, proclamation, regulation, ordinance, demand or requirement having legal effect of any government or any judicial authority or representative of any such government, or any other act whatsoever, whether similar or dissimilar to those referred to in this clause, which are beyond the reasonable control of MMTC-PAMP/SUBSCRIBERand could not have been prevented by reasonable precautions, then MMTC-PAMP/SUBSCRIBER shall  be excused and discharged from such performance to the extent of and during the period of such force majeure event, and such non-performance shall, in no manner what so ever, amount to a breach by MMTC-PAMP/ SUBSCRIBER of its obligations herein.
37. Absence of relationship:You represent and warrant to MMTC-PAMP/SUBSCRIBER that You have sufficient experience and knowledge to make informed decisions to purchase/ redeem/ / sale-back Gold/Redeemable Products. You acknowledge that You are making all of Your own decisions in connection with purchases or redemption or sale-back and that You have not relied on any information made available by MMTC-PAMP/ Subscriber. Further that MMTC-PAMP/ SUBSCRIBER is not making any recommendation with respect to such purchases/redemption/sale-back/ of Gold/Redeemable Products. No relationship other than Seller-Purchaser, including, without limitation, any Agent-Principal relationship, any Advisor-Advisee relationship, any Employee-Employer relationship, any Franchisee-Franchisor relationship, any Joint Venture relationship or any Partnership relationship, exists between You and MMTC-PAMP.
38. Electronic Order Risks:Order entry systems have been designed to provide an efficient and dependable method for entering orders. Commercial internet service providers are not 100% reliable and a failure by one or more of these providers may affect internet-based order entry. You acknowledge that the order entry system is an electronic mechanical system and as such may be subject to failure beyond the control of MMTC-PAMP/ Subscriber.Therefore, MMTC-PAMP shall not be responsible for errors, negligence, inability to execute orders, delays in transmission, delivery or execution of order due to breakdown or failure of transmission or communication facilities, or to any other cause beyond MMTC-PAMP/ Subscriber’s control or anticipation. You acknowledge that pricing or typographical errors may occur and that therefore, in the event that a Product is listed at an incorrect price or with incorrect information due to an error in pricing or Product information, MMTC-PAMP/SUBSCRIBER reserves the right, at our sole discretion, to refuse or cancel or reject any orders placed for the products. Furthermore, MMTC-PAMP reserves the right to deny refuse or cancel or reject any orders placed in case of market volatility and/ or unusual circumstances or conditions. This includes, without limitation, unexpected unavailability of MMTC-PAMP Product/Gold.
39. CUSTOMER responsibility for taxes, tariffs and duties: You acknowledge that You are solely responsible for all taxes, tariffs and duties that may be incurred as a result of purchase/redemption/ of Gold/Redeemable Products. MMTC-PAMP/SUBSCRIBER will only collect taxes, tariffs and duties on transactions to the extent explicitly required by law. It is Your responsibility to be aware and properly address any taxes, tariffs and duties to which You may be subject by any local, state and/ or Central governments. If You have any questions about taxes, tariffs and duties, You should consult a tax or other Professional about Your unique circumstances. MMTC-PAMP/ SUBSCRIBER does not represent to provide advice or recommendations about Your specific taxes, tariffs and duties.
40. Indemnification: CUSTOMER hereby agrees to indemnify and keep SUBSCRIBER indemnified from and against all actions, claims, demands, proceedings, losses, damages, personal injury, costs, charges and expenses, directly or indirectly, whatsoever (‘Losses’) which SUBSCRIBER or its employees, agents, workers or representative may at any time incur, sustain, suffer or be put to as a consequence of or by reason of or arising out the usage of the Platform by the CUSTOMER;
    1. by reason of MMTC-PAMP ‘s acting in good faith and taking or refusing to take or omitting to take action on the CUSTOMER’s instructions, and in particular arising directly or indirectly out of the negligence, mistake or misconduct of the CUSTOMER;
    2. breach or noncompliance of the Terms and relating to the Gold account; and/or
    3. fraud or dishonesty relating to any transaction by the CUSTOMER.

    Without prejudice to the foregoing, SUBSCRIBER shall be under no liability whatsoever to the CUSTOMER in respect of any loss or damage arising directly or indirectly out of:

    1. effecting transaction based on instructions received from Customers,
    2. the instruction of a CUSTOMER to transfer Gold from his / her Gold account to another Gold account,
    3. the exercise by MMTC-PAMP of its right to terminate / exercise the facility/services provided on the Platform,
    4. any injury to the credit, character and reputation of the CUSTOMER due to use of facility/ services on the Platform,
    5. any mis-statement, misrepresentation, error or omission in any details disclosed by MMTC-PAMP/SUBSCRIBERif it receives any process, summons, order, injunction, execution distrait, levy lien, information or notice which MMTC-PAMP/SUBSCRIBERin good faith believes/ calls into question the CUSTOMER’s ability, or the ability of someone purporting to be authorised by the CUSTOMER, to make the transfer, MMTC-PAMP may, at its option and without liability to the CUSTOMER or such other person, decline to allow the CUSTOMER to obtain any portion of his Gold/ Product, or may handover such Gold/Product over to an appropriate authority and take any other steps required by applicable law.

41. Disclaimers and limits of liability: MMTC-PAMP/SUBSCRIBER does not make any representations, recommendations, projections, warranties or guarantees of any kind, either expressed or implied, as to the performance of its Gold/Redeemable Products with respect to future prices or any return on investment. MMTC-PAMP/ SUBSCRIBER will not be liable to any CUSTOMER (including but not limited to Transferee) for any Losses caused by or relating to transfer/deposit of Gold to Gold account of any other CUSTOMER. MMTC-PAMP/ SUBSCRIBER explicitly requires all its Customers to inspect the package for any damage or tamper before receiving or signing for receipt. If You find any tampering, do not accept the parcel and return the same. MMTC-PAMP will not be liable for any loss or damage caused if the CUSTOMER accepts the parcel in spite of it being damaged or tampered. The duty to verify the parcel for any damages or tampering is of the CUSTOMER and if the CUSTOMER accepts the parcel and later comes to know of any damage or tampering, MMTC-PAMP/SUBSCRIBER shall not be liable for any loss or damage to CUSTOMER. If such loss is later reported and approved by logistics partner and Insurance Company, the limit of liability shall be restricted to the amount paid by the logistic partner for such loss or damage in transit as per their terms and conditions and the same shall be binding upon the CUSTOMER.
42. You acknowledge that MMTC-PAMP/SUBSCRIBER will not be liable to You or any other person as a result of Your access or use of Gold/Redeemable Product for indirect, consequential, special, incidental, punitive, or exemplary damages, including, without limitation, lost profits, lost savings and lost revenues (collectively, the “excluded damages”), whether or not characterized in negligence, tort, contract, or other theory of liability. In no event will MMTC-PAMP/SUBSCRIBER or any of its Directors, Employees shall be liable. The total liability to You for all the  damages, losses, liabilities and causes of action under these Terms and the facility/ services provided by MMTC-PAMP/SUBSCRIBER shall not collectively exceed the total amount paid by You, if any, for access to that particular products or services. The foregoing limitation of liability shall apply to the fullest extent permitted by law in the applicable jurisdiction.
43. You declare that You are an individual not having registration and neither required to take registration under Central Goods and Service Tax Act 2017, State Goods and Service Tax Act 2017, Integrated Goods and Service Tax Act 2017 and Union Territory Goods and Service Tax Act 2017.
44. You declare that Gold that You are selling was previously owned by You in your Account for personal use.
45. You declare that You are not an unregistered dealer of Gold and silver or any other precious metal ornament or any related Product.
46. If any misrepresentation done by You is found, then You would be solely responsible for all types of  penalty,levy, tax, charges, interest or taxes as may become due to any Authority, Entity or to the Government, at any given point of time.