Financial Health Check Report – Terms of Use

In this document;

 

  • “BFDL”, “Company” means Bajaj Finserv Direct Limited;
  • The “Site” means any web site, mobile site, or application of BFDL;
  • The “Service/s” means any information, documents, assistance, or services we may provide to you through our Site including but not limiting to credit information; and
  • “I” “me” “my” and “myself” “Consumer/ Customer” mean anyone who visits, accesses, or uses our Site or requests Services from us through our Site;
  • “Bureau” shall mean credit information company which is authorized under the Laws of India to provide comprehensive credit information by collecting, collating and issuing credit information, pertaining to both commercial and consumer borrowers, to a closed user group of members. In relation to provision of the Services mentioned herein; Bureau shall mean “TransUnion CIBIL”.

 

This document along with “Terms of Use” and “Privacy policy” governs the provision of Services and relationship between You and Bajaj Finserv Direct Limited and forms a legally binding agreement for the provisions of Services herein. By subscribing to the Services you expressly agree to the following terms and conditions:

 

BFDL is my lawfully appointed agent for the purposes including but not limiting to receive my cerdit information from bureau and to keep record of day-to-day changes in my Credit Information for the purpose of CIBIL Alert on my behalf at any time in order to deliver the Services as I have subscribed to from BFDL, as long as I am a registered user of this Site.

 

I am aware that CIBIL Alerts is a feature made available by TransUnion CIBIL Limited (TU CIBIL) to the consumers availing its Credit Information Report (CIR) prepared by TUCIBIL. I realise that my CIR and CIBIL Score may change whenever a Credit/Financial Institution accesses my CIR or submits any new information and/or updates any information pertaining to the credit facilities I have availed from various lenders. I agree that the new CIBIL Alerts feature monitors the changes/updates made to my CIR and/or CIBIL Score and sends real time basis Alerts to me whenever my CIR and/or CIBIL Score has undergone a change.

 

I am aware that BFDL will get these updates from TUCIBIL and notify me in the form of real time basis Alerts on giving explicit consent to receive those Alerts from BFDL. I realise that it is important to stay aware of changes to my credit actions and transactions that may impact my CIBIL Score and access to various credit products. I explicitly authorise BFDL as an appointed agent to monitor all changes in my Credit Information and consequently, notify me of such changes and send me offers related to credit products and recommend me to take necessary actions and reduce the possibility of exposing myself and to prevent me from adverse impact on my CIBIL Score. I understand that CIBIL Alerts is based on changes in my CIBIL Score, and I may receive incorrect report or Services, hence, BFDL shall not be responsible in any manner for the same. In view of the above terms, I provide my explicit consent on the following:

 

  1. That I may receive real time basis Alerts from BFDL or through its authorized service providers/agents, via pop-up notifications on the BFDL digital platform.
  2. That in the event of any update on or change in my Credit Information and/or CIBIL Score linked to my CIR, BFDL may send real time basis Alerts on my registered Mobile Number/Email.
  3. That BFDL may continue to send such real time basis Alerts even after my subscription has expired so as to enable me to decide if I wish to renew the subscription.
  4. That this feature shall be provided to me on account of my subscription to Alerts and on the basis of my explicit consent provided to BFDL and that I will not raise any dispute and/or legal proceedings against TUCIBIL for receiving such Alerts from BFDL and/or hold TUCIBIL liable/ responsible for any losses/ claims/ damages, etc. in this regard.
  5. That I will not hold both BFDL and TUCIBIL responsible/ liable for any decision that I make with regards to renewing or not renewing the subscription. 

 

By accepting these terms and conditions; I am providing “written instruction” to BFDL to obtain my credit information from the bureau. I further authorize BFDL to share my personal identifiable information with the bureau to confirm my identity and to obtain the credit information on my behalf.

 

I undertake that the information provided by me in the application form is true and accurate and shall match with the details provided by me to the banks and other credit institutions I have relationship with. I understand that I shall have access to the report upon login using my registered user ID on BFDL’s Site. I also understand that I may have to further authenticate myself as per the bureau authentication process. I understand that BFDL shall have all the rights to reject my request form due to any reason and shall not be required to specify such reasons of rejection. I understand that due to incomplete or incorrect information provided my me; I may receive incorrect report or Services; BFDL shall not be responsible in any manner for the same.

 

I understand that BFDL obtains the information from bureau and is reported to me on “as is” basis and shall not be required to verify the correctness of information received. Therefore I shall not hold BFDL accountable for the accuracy, completeness or fitness for a particular purpose, or non-infringement of any and all such information as provided in the report to me. The analysis or recommendation provided as part of the Services is based on certain assumptions applied by BFDL on the information obtained from me or the data it already has.

 

I realize the information contained in the report is for illustrative and information purposes only and does not constitute as professional advise or soliciation and BFDL thereby holds no liability. I understand that BFDL may enrich the information in the Report based on my past credit information held with BFDL to make more personalized recommendations to me. The report may contain certain propritary information of BFDL and is meant only for use for the receiver of the report and I undertake not to circulate the report to any other person/entity. I shall not hold BFDL liable or responsible whether financial or otherwise, for the losses or damages caused directly or indirectly, for any action taken by me placing reliance on this report. I shall have sole responsibility of my actions and decisions. I acknowledge that BFDL shall have no liability or require to indemnify me for loses, claims, expenses, damage incurred by me for any incorrect report provided due to any technical error, incorrect information provided by me or otherwise. 

 

Offers and Recommendations

 

I authorize BFDL to use my credit information to provide personalized offer and/or recommend Products and Services based on the eligibility creteria of such Products and Services to me from time to time. I acknowledge receiving notification of offers, to be contacted by BFDL through various communication channels and contact details provided by me to BFDL. I expressly waive any restriction rights available to me or any NDNC request made by me under the Telecom Commercial Communications Customer Preference Regulations in relation to solicitation, offers made by BFDL.

 

I acknowledge and agree that any credit facility provided to me pursuant to any activities on the Site shall be governed by credit criteria of such lending partners and there may be additional terms and conditions which shall govern such transcations conducted by me on the Site.

 

Payment Terms

 

I agree to pay the charges for the Services as stipulated by BFDL from time to time, as applicable. I undertsand that there may be additional charges for use of payment gateway or bank charges which may be applicable. BFDL shall not be liable to refund in case of any cancellation, rejection or no credit information report can be generated based on the information provided by me. The charges shall be inclusive of all taxes, fee including payment gateway charges if any.

 

I undertake that the payment instrument used by me belongs to me or I am fully authorized to make use of such instruments to make payments. I understand the payment gateways services for such payment may not belong to BFDL and may be provided by third-parties. I shall not hold BFDL responsible for the error and BFDL shall not be obligated to indemnify me for any loss, damage, claim suffered by me due to use of such payment instruments and/or payment gateways.

 

Other terms and conditions 

 

  1. I agree that the terms and conditions may be amended from time to time without any notice; which changes shall be available on the Site. I understand that BFDL may at its sole discretion may amend, discontinue the Services in part or whole as it deems fit at any time without a requirement of prior notice or consent.
  2. I understand that BFDL reserves all the rights to suspend, terminate, my account at its sole discretion at any time for any reason but not limiting to breach of the terms of use by me, of if the information provided by me is incorrect, obtained or is intended to be used for fraudulent purposes.
  3. Any disputes relating to the credit information can be raised with respective bureau on their website.
  4. I understand that BFDL is only acting as a facilitator for providing a Platform for me to access my credit information and BFDL does not warrant that the functions contained in on the Site will be uninterrupted or error free, free of viruses or other harmful components, but shall take commercially reasonable efforts to correct the delays in operation of the Site.

 

CIBIL TERMS AND CONDITIONS

 

To,

TransUnion CIBIL Limited

[Formerly known as Credit Information Bureau (India) Limited]

19th Floor, One IndiaBulls Tower-2A-2B, 

841 Senapati Bapat Marg,

Lower Parel,

Mumbai – 400 013

 

Sub:   Grant of Consent

 

Dear Sirs,

In connection with submission of the application for my credit information offered by CIBIL (“Consumer Credit Information”) through Bajaj Finserv Direct Limited (referred to as the “Company”) and delivery of the Consumer Credit Information to the Company, I hereby acknowledge and agree to the following:

 

  1. The Company is my lawfully appointed agent and it has agreed to be my agent for the purposes, including, without limitation, to receive the Consumer Credit Information from TUCL on my behalf and use it in the manner consistent with the Agreement entered into between the Company and TUCL, and the Company has granted its consent for being appointed for the aforesaid purpose.
  2. I grant my unconditional consent to the Company to receive the Consumer Credit Information and Credit Products from TUCL on my behalf and the Company has granted its consent for being appointed for the aforesaid purpose. I hereby represent and acknowledge that the Terms of Understanding in relation to the use of the Consumer Credit Information and Credit Products has been agreed between me and the Company.
  3. I hereby expressly grant unconditional consent to, and direct, TUCL to deliver and / or transfer my Consumer Credit Information to the Company on my behalf.
  4. I agree that my consent shall be stored by the Company on a permanent basis and shall be verifiable from time to time. I understand that the Company cannot access the Consumer Credit Information for more than 6 months on a single Consumer Consent and the same shall be required to be refreshed every six (6) months. Company can store the Consumer Credit Information only for (i) a limited time period of six months or (ii) till such time the credit information is required to be retained to satisfy the purpose for which it was provided or (iii) until I withdraw my consent to store such Consumer Credit Information, whichever is earlier and thereafter, the stored Consumer Credit Information shall be deleted, purged, expunged by the Company.
  5. I shall not hold TUCL  responsible or liable for any loss, claim, liability, or damage of any kind resulting from, arising out of, or in any way related to: (a) delivery of my Consumer Credit Information  to the Company ; (b) any use, modification or disclosure by the Company  of the contents, in whole or in part, of my Consumer Credit Information  , whether authorized or not; (c) any breach of confidentiality or privacy in relation to delivery of my Consumer Credit Information  to the Company ; (d) for any use made by the Company which is contrary to the Agreement entered into between the Company and TUCL.
  6. I acknowledge and accept that: (a) TUCL has not made any promises or representations to me in order to induce me to provide my Consumer Credit Information   or seek any consent or authorization in this regard; and (b) the implementation of the Agreement between TUCL and the Company is solely the responsibility of the Company.
  7. I agree that I may be required to record my consent / provide instructions electronically and in all such cases I understand that by clicking on the "I Accept" button below, I am providing "written instructions" to Company authorizing Company to obtain my Consumer Credit Information from my personal credit profile from TransUnion CIBIL LIMITED, [formerly known as Credit Information Bureau (India) Limited]]. I further authorize Company to obtain such information solely to confirm my identity and display my Consumer Credit Information to me.  Further in all such cases “By checking this box and clicking on the ‘Authorize button, I agree to the terms and conditions, acknowledge receipt of TUCL privacy policy and agree to its terms, and confirm my authorization for Company to obtain my Consumer Credit Information.
  8. I understand that in order to deliver the product to me, I hereby authorize Company, to obtain my Consumer Credit Information from TUCL.
  9. By submitting this registration form, I understand that I am providing express written instructions for Company to request and receive information about me from third parties, including but not limited to a copy of my consumer credit report and score from consumer reporting agencies, at any time for so long as I have an active Company account. I further authorize Company to retain a copy of my information for use in accordance with Company Terms of Use and Privacy Policy.
  10. I UNDERSTAND THAT THE PRODUCT IS PROVIDED ON AN “AS-IS”, “AS AVAILABLE” BASIS AND TUCL EXPRESSLY DISCLAIMS ALL WARRANTIES, INCLUDING THE WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, AND NON-INFRINGEMENT.
  11. I shall not sue or otherwise make or present any demand or claim, and I irrevocably, unconditionally and entirely release, waive and forever discharge TUCL , its officers, directors, employees, agents, licensees, affiliates, successors and assigns, jointly and individually (hereinafter “Releasee”), from any and all manner of liabilities, claims, demands, losses, claims, suits, costs and expenses (including court costs and reasonable attorney fees) (“Losses”), whatsoever, in law or equity, whether known or unknown, which I ever had, now have, or in the future may have against the Releasee with respect to the submission of my Consumer Credit Information   and / or my decision to provide TUCL L with the authority to deliver my Consumer Credit Information  to the Company. I agree to defend, indemnify, and hold harmless the Releasee from and against any and all Losses resulting from claims made against TUCL L by third parties arising from and in connection with this letter.
  12. I agree that the terms of this confirmation letter shall be governed by the laws of India and shall be subject to the exclusive jurisdiction of the courts located in Mumbai in regard to any dispute arising hereof. TUCL is entitled to assign its rights hereunder to any third person without taking my prior written consent. 

Yours faithfully,

 

Signature:____________________________

Name       :____________________________

Address   : ____________________________

 

CC:          Bajaj Finserv Direct Limited

www.bajajfinservmarkets.in

 

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