Terms & Conditions

The terms and conditions contained after this ("Terms of Use") shall apply to all users of the website www.finware.tech and any other linked pages, products, or software(s). API keys, features, content or Application services(including but the connection in addition to that, API without keys, limitation offered from elements to any time content or mobile Application to time application services) by Finware in Finware Technologies Pvt Ltd ("Finware" or "we" or "our" or "us" (collectively, "website"). Any person logging in to or using the Website (even if that said person is not availing of any services offered by the Website (from now on referred to as a "User", "Seller", "You" or Client") is assumed to have read the "Terms of Use" (which includes the Privacy Policy, separately displayed or provided on the Website and unconditionally accepted the terms and conditions set out herein. These 'Terms of Use form a binding and enforceable agreement between the User and Finware.
These terms or conditions may not change in any manner the terms or conditions of any other written agreement you may have with Finware for other services. Before agreeing to "Terms of Use", please read them carefully.
If you do not agree to these "Terms of Use" (including any referenced policies or guidelines), please immediately stop using the Website. You may accept the "Terms of Use" by Clicking to accept or agree to the "Terms of Use, where this option is made available to you by Finware in the User interface for any particular service; or Accessing, testing or using the Service. In which case, you understand and agree that Finware will treat your use of the Services as acceptance of the "Terms of Use" from that point onwards. This Agreement explains the terms prevailing the utilization of the services offered to you on the Open platform, consisting of the Website's content, updates, and releases ( broadly Known as "Services").

It is inclusive of references.
• Privacy policy defined on the Website or provided otherwise
• Other "Terms & Conditions", which the third parties have included
• Any additional terms provided to you for the Services include product offerings, ordering online, payment options, etc.
Scope: These terms apply to different services offered by the Open, which include taking assistance in opening a current online account through partner banks, operations of the customer's Open account, handling any relevant payment transactions reporting, making compliance, using the payment of related gateway, book lending keeping, and payroll wealth analytics, management solutions and other banking and financial services provided by Open and its approved third party services providers, including partner banks. As a part of the utilization of these value-added services, the customers must comply with the 'terms & conditions following the terms of use of the service providers or the partner banks, which will inadvertently alert the customer when ordering or utilizing such services.

Definitions
For these Terms and legal validation, the following words and phrases shall hold the meaning designated under this Article.
2.1 Services
"Services" is any assistance offered by Open or Service Providers/ Banking partners to Users.
2.2 User
"User" can be any person who gets on the Open platform to utilize the Website's services/or transacts on this Website. "User" term shall also mean any person given authorization to avail of the services with the permission of the User with limited or full rights login.
2.3 Nodal Account
Bank account maintained by Open as necessitated by the RBI guidelines
2.4 Payee AccountThis refers to any person to whom payment is made using the Services (The term includes a user who avails the services to receive payment)
2.5 Payer
This refers to any person who makes a payment using the Services ( The term includes a user who uses the Services to make payment)
2.6 Products This
refers to any services or products which are purchased/offered for sale by a User to third parties regularly, utilizing the Services
2.7 Service
Provider This refers to a bank, association, company, partnership or any such facility provider whose facilities or services are availed of in the provision of these Services to Users using Open Platform 2.6 Transaction This refers to a payment instruction that ends in a successful transfer of money (a) from a User to Payee; or (b) from Payer to a User.
2.8 Escrow Account
This refers to all accounts and/or Sub-accounts of the escrow accounts opened by the customer with the partner bank for utilizing the online Escrow Facility and allowing the customers to maintain online Escrow Accounts.
2.9 Open Business Account
A business account created by an Open customer for handling any online payment transactions, powered by ICICI Bank Ltd (thereinafter referred to as the 'Bank'), opened afresh through the Open platform or by connecting an existing User Bank account through the Open platform. The terms governing the current account and various related banking facilities shall be as detailed in www.icicibank.com
2.9 Open Collection AccountThis is a virtual account created upon registration. This shall act as the collection account for the payment gateway and other collection transactions. The account limit is set to INR 50,000 before creating a new business account or connecting an existing one. Nonetheless, a business account is essential to withdraw the money. Unless a business account is activated, withdrawal is not possible. In case of failure to activate/connect a business account to the Open account, the collected amount shall be refunded to the source. The payment transaction related to the collection settlement through Nodal Account is subject to the Settlements Act 2007, and Open shall be an intermediary providing technology solution for smooth and effective settlement flow.
Eligibility
Use of the Service is available only to persons who can form legally binding contracts under the Indian Contract Act 1872. Persons who are incompetent to contract within the Indian Contract Act, 1872. Persons unfit to acquire within the meaning of the Indian contract act, 2872, including minors, un-discharged insolvents etc., are not eligible to use the Service. You represent and warrant that you are at least 18 years old and all information you submit is true, accurate and complete while registering the account on Service. If you are a minor, i.e. shall not register as a user of the Service and shall not transact on or use it. (Not Changed)
Registration
To use the services, the User must register with Open and Service providers, including the partnered banks for the current account. User must provide Open/Bank with relevant documents as deemed necessary to comply with partner banks' KYC norms as per RBI guidelines. On registration, it is considered that the 'User' has provided accurate and complete information. If it comes to know otherwise, Open and Bank will have the right to reject the User's registration and terminate his right to the utilization or access of the Website and/or Services. If a User registers with Open, a User account is created with a user name, password and other User-related information. The User shall be solely responsible for anything and everything that takes place through this User account. Users will be charged an applicable fee based on services utilized and the plans opted for. Open holds the right to change its fee policy related to such paid registrations. Fee changes, if any, will be posted on the Application, and the new fee schedule shall come into force the instant it is posted.
Settlement of payment amounts Amount collected through the Open collection account will be made available to the User net of approved, applicable fees due to Open. Further, it is understood that the intimation of completion of Service to the end user is the point at which the User instructs to withdraw the money to his designated account through the Open platform. In line with RBI guidelines, Open shall settle the available balance, net of applicable fees, to the User assigned account within two days of such intimidation. The business account's other receipts and payments will be based on the banking settlement timelines the bank adheres to. The transaction status will be intimated and based on the bank's information through APIs.
Access
You will be solely responsible for upholding the confidentiality of your account and password and restricting and preventing unauthorized access to your account. You agree and acknowledge that you accept responsibility for all activities under your account or password. You can access and bring up-to-date account details on the Service. You shall also ensure that the account details are correct, accurate and complete. Open has the right to reject access to the Service, terminate accounts, or remove or edit any point of time without any notice to you. Open will venture to ensure that access to and availability of the Service remains continuous and error-free. Nevertheless, access to the Application may sometimes be suspended or restricted to allow for repairs, maintenance, or the opening or introduction of new facilities and services.
Obligations and Rights
User
The User shall not:
(i) carry out any activity, which is banned, illegal or immoral,
(ii) Use the Services in any manner or in furtherance of any activity which constitutes a violation of any law or regulation or which may cause Open to be subject to investigation, prosecution or legal action, including trading in contraband items or providing services or activities online prohibited by applicable laws.
User shall comply with all laws, rules and regulations and at all times comply with the guidelines set by Visa/Master Card/ acquiring banks/ Service Providers.
User shall not sell, provide, exchange, or otherwise disclose to third parties or use themselves (other than to complete a Transaction or as expressly required by law) any personal information about any third party, including the account details and mobile number, without obtaining the prior written consent of the such third party.
Users must take all reasonable precautions, as directed by Open. It's crucial to ensure that there is no security breach and that the link between their systems, the Website, and the payment mechanism remains intact.
Any loss incurred as a result of the link being breached, improper, or in violation of the provisions of this clause shall be borne by the User. In the event of any loss being caused as a result of the link being breached or as a consequence of the link being improper or in violation of the provisions of this clause, the loss shall be to the User's account. The User shall indemnify and keep indemnified Open and the Service Providers from any loss as may be caused in this regard. The User shall bear and be responsible for paying all relevant taxes (including any applicable withholding taxes) as may be due.
A User shall use the information regarding a Payee/ Payer (including name, address, email address, telephone numbers and other data) conveyed to him whilst using the Services only to complete the Transaction for which it was furnished and not to sell or otherwise provide such information to others unless he has an independent source of such information or obtains the express consent of such Payee/ Payer.
A User shall inform Open of any change in his email address, mobile number, address, ownership or legal status or his cessation of business in writing 30 working days before such change.
User agrees and undertakes that availing any third party services on Open shall be at the User's sole discretion and post agreeing to their terms and conditions and shall not hold Open responsible for any damages for the shortage of Service or quality of Service.
Open: Open shall act following all requirements regarding the protection of customer funds as set out by the RBI through its banking partnership agreements. Nonetheless, it makes clear that all business account funds are the sole responsibility of the bank and shall adhere to related guidelines of the Bank and RBI.
Funds on the account do not expire. However, there is no interest paid on these funds. The funds in the Open collection account are owned by the account holder, subject to applicable Bank charges.
Open holds the right to conduct inspections, audits and/or impose additional conditions or restrictions about the customer or the use of the customer's payment account, which includes establishing a reasonable reserve amount to cover potential chargebacks and related fees and sanctions as well as limiting the right of the customer to claim monies from the payment account when required.
Open shall exercise all necessary cautions and checks for onboarding third-party service providers. Nevertheless, the User agrees and acknowledges that the specific transaction risks shall be governed by the terms and conditions between the User and the Service Provider.
Open shall be directly responsible for Services.
Open shall be responsible for Services directly provided to the User, and the terms of this Agreement shall govern the service delivery and completion. Open does not offer any banking services regulated by the Reserve Bank of India.
Fees In consideration of services rendered by Open to the User, the User shall pay to Open a fee as specified in the scheduled intimated and accepted from time to time.
Open shall deduct its transaction fees plus service tax per successful Transaction and make available the remaining balance of the Transaction Amount to the User for payments or transfer to the business account. All other taxes, duties or charges shall be borne and paid by the User unless agreed between the Parties. Open reserves the right to alter/modify/change the discount/commission rate at its discretion. Open also reserves the right to immediately revise the transaction fee payable in the event of any revision in the rates charged by the acquiring banks or card associations or guidelines issued by the RBI from time to time.
It is with this agreed and acknowledged by the Parties that the transaction fees charged by Open, in respect of a Transaction, that has been confirmed shall not be returned irrespective of or the repaid by Transaction disputed.
Specific Terms
User shall be fully responsible for any miscommunication or incorrect User/third-party/ other information that may be provided to Open at the time of enabling the Services for the User. Open/ Service Provider reserve the right to impose limits on the number of Transactions which may be charged on an individual credit card or another account during any period and reserve the right to refuse to make payments in respect of Transactions exceeding such limit. Open/ Service Provider reserves the right to refuse to make payments concerning Transactions by Users with a prior history of questionable charges.
Security
Subject to the provisions stated herein and as specified by Open from time to time, the User will not hold Open liable in case of any improper/ fraudulent/unauthorized/ duplicate/erroneous use of his mobile and/or web-based access. Open will also not be responsible for any consequences connected with the use/ misuse of the User's mobile/e-mail account by any third party. For example, suppose any third parties gain access to the Services. In that case, the User will be responsible and shall indemnify Open against any liability, costs or damages arising from such misuse/use by third parties based upon or relating to such access and use.
The User shall be fully liable for: (a) any unauthorized use of his mobile/email account; and/or (b) all authorized Transactions on his mobile/email account. (Not Changed)
Refunds/ Chargebacks Any amount collected through the payment gateway with a confirmed charge bank from the Service Provider shall be refunded to the source from where the Payer made the transition. The User shall pay the money to Open if the amount has already been settled to the User's account before chargeback.
(a)Any payments by a User/ Payer using the Services, which the acquiring bank returns for any reason whatsoever.
(b)Any charge/debit arising out of any alleged hacking breach of security or encryption that may be utilized by the Service Provider/ Open/ Payee from time to time.
(c) Any unsuccessful Transaction.
Termination case of any violation of these Terms or any other user or third party reports a breach of any of its rights on account of your use of the Services, and Open has the right to terminate your access to the Service with or without notifying you to exercise any other remedy available under the law.
Open reserves the right to indefinitely suspend or block access to your membership on the Application and/or refuse to provide you access to the Application in the event of the following issues: If you engage in or are suspected of engaging in any illegal, fraudulent or abusive activity; or
If you provide any information that is untrue, inaccurate, not current or incomplete in any respect, or we have reasonable grounds to suspect that such information is incorrect or faulty, following the Terms of Use.
Indemnity User shall keep Open indemnified from and against any liability (including but not limited to penalties, judgments, damages, losses, claims, costs and expenses) or any other loss that may occur, arising from or relating to any claim, suit or proceeding brought against Open by another User/ Service Provider/the third party for reasons including, but not limited.
(i) a breach, non-performance, non-compliance or inadequate performance by the User of any of the terms, conditions, representations, obligations or warranties made by him;
(ii) any acts, errors, misrepresentations, willful misconduct or negligence of the User or his employees, subcontractors and agents in performing their obligations under these Terms.
Service Providers may prescribe from time to time regard to the Services. All Transactions effected by or through this Website shall constitute legally binding and valid transactions when done in adherence to and in compliance with the terms and conditions prescribed by Open or Seller/ Service Provider.
Confidentiality User agrees not to disclose or attempt to use or personally benefit from any non-public information that he may learn on the Website or through the Services. This obligation shall continue until the non-public information has become publicly known through no action of your own. However, suppose you are compelled by order of a court or other governmental or legal body (or have notice that such an order is being sought) to divulge any such non-public information. In that case, you agree to promptly and diligently notify Open and cooperate fully with Open in protecting such data to the extent possible under applicable law.
Open may access, preserve and disclose any of your information if required to do so by law or if we believe in good faith that it is reasonably necessary to
(i) respond to claims asserted against Open or comply with legal process,
(ii) for fraud prevention, risk product development and assessment, investigation, customer support, de-bugging purposes,
(iii) protect the rights, property or safety of Open, its Users or public members.
Limitation of Liability User fully acknowledges and agrees that, to the maximum extent permitted by law, the entire risk arising from your access to and use of the Website and services remains with you. Accordingly, neither Open nor any other party involved in providing or delivering the Website or services will be liable for any incidental, special, exemplary or consequential damages, including lost profits, loss of data or loss of goodwill, service interruption, computer damage or system failure or the cost of substitute services, or in connection with these terms, as a result of your use of the Website or services, whether based on warranty, contract, tort (including negligence), product liability or any other legal theory, and whether or not open has been informed of the possibility of such damage, even if a limited remedy set forth herein is found to have failed of its essential purpose.
General terms required by law, Open may change any fee or charge or institute new fees or charges. The User agrees to pay all fees imposed, provided there is an intimation of the fees before the charge. Open shall not make any refunds of any amounts other than as agreed by these Terms.
Open holds the right to vary any of the Terms contained herein by posting the revised terms on Open's Website without notice to the User.
As a result, the User accepts that from time to time, he may receive communications from Open or its associates, such as service announcements, advertisements or administrative communications.
User information provided to Open shall be accurate, current and complete.
The User shall be wholly responsible for the accuracy and correctness of all information. Open shall not be liable for any loss or costs incurred by any party due to any incorrect or mistaken information provided by the User.
Open shall not be liable for any direct, indirect, punitive, incidental, exemplary, special or consequential damages or any loss of profit, business, revenue, goodwill or anticipated savings or any damages whatsoever arising out of or in any way connected with the use of the Website by User or otherwise.
Open, or Service Provider shall in no event be liable to a User or any third party for any loss or damage whatsoever or howsoever caused arising directly or indirectly in connection with the Website and Services.
In no event shall Open or a Service Provider be liable to a User or any other third party for applicable taxes and government levies.
Any link on the Open Website to a third-party site is not an endorsement of that Website. The use or browsing by a User of any other Website shall be subject to the terms and conditions of each such Website.
Open does not endorse any advertiser or merchant linked to its Website. Therefore, it shall be the User's responsibility to check and verify all information the merchants/ advertisers provided before purchasing any Product.
Open shall not be responsible for any unauthorized access to the User's data or any unauthorized transmissions sent through the Open Services.
Users shall not (be it online or otherwise): portray or describe themself as an agent or representative of Open or make any representations to any customer or any third party or give any warranties, which may require Open or Service Provider to undertake to or be liable for, be it directly or indirectly, any obligation and/or responsibility to the customer or any third party Open shall not be responsible for any violation of these Terms due to any force-majeure event such as an act of god, fire, lightning, explosion, flood, inclement weather conditions, power failures, failure in any communication systems, equipment breakdown, strikes, lock-out or any other cause beyond the control of Open.
Suppose any part of these Terms is determined to be invalid or unenforceable according to applicable law including, but not limited to. In that case, the warranty disclaimers and liability limitations set forth herein, the invalid or unenforceable provision will be deemed superseded by a valid, enforceable provision that most closely matches the intent of the original condition. The remainder of the Terms shall continue in effect.