4   REGISTRATION

• 4.1   Upon acceptance of these CLO Terms and Conditions, You will be registered with LPL on LPL Portals and a user account will be created for You on LPL Portals (User Account) in the manner specified in Authentication Process under Clause 5.  
• 4.2  In addition to these CLO Terms and Conditions, the terms and conditions relating to creation and use of the User Account, if any, specified on LPL Portals, shall also be applicable to You. 
• 4.3  You are obliged to furnish to LPL all information required for the User Account opening process, and such other information, details, and clarifications as LPL may require from time to time and You will ensure that all information provided by You to LPL is always  true, correct, accurate, and complete in all respects.
• 4.4  Each time You avail the Credit Line Option, You may be prompted to accept the CLO Terms and Conditions applicable for the Partner Financial Institutions. Accepting any such new CLO Terms and Conditions will not result in the creation of a new User Account with LPL.  
• 4.5  Where you are already an existing registered user on LPL Portals or have signed up for other LPL Service(s), You acknowledge and agree that the terms and conditions of the respective LPL Service(s) availed by You through LPL Portals shall also be applicable.
• 4.6  In addition to the Credit Line Option, You will be eligible to avail other LPL Service(s) offered by LPL through LPL Portals provided you satisfy the criteria specified by LPL for the relevant LPL Service.

5   AUTHENTICATION PROCESS

• 5.1   For undertaking a Transaction, You will be required to: (i) select the Credit Line Functionality; and (ii) complete the process specified for registration (if applicable) and authentication through one of the methods of a authentication specified by LPL or the Partner Financial Institutions, including but not limited to, entering the one-time password (OTP) issued by LPL or Partner Financial Institution to You on Your Registered Phone Number (Authentication Process).  
• 5.2  In relation to the Credit Line Option, authentication of a User and approval of the Credit Line Transaction will be completed by the Partner Financial Institutions. You agree and acknowledge that, in the event You avail the Credit Line Option, LPL will share the necessary information (including Personal Information) in relation to You with the Partner Financial Institutions for enabling the completion of the Credit Line Transaction.  
• 5.3  Any Credit Line Option shall be made available to you only when: (a) You have accepted and executed the definitive facility documents in favour of the Partner Financial Institutions, in a form and manner acceptable to the Partner Financial Institutions, (b) there being no adverse findings in Your credit evaluation by the Partner Financial Institutions, and (c) the satisfactory conclusion of Your know your customer (KYC) and any other checks by the Partner Financial Institutions.  
• 5.4  Once You are registered and authenticated through the Credit Line Functionality, You will be permitted to make subsequent transactions using the Credit Line Option, as the case may be, either (a) by entering an OTP or (b) without having to enter an OTP for a period of 180 days on selected Partner Merchants, if permitted by the LPL and/or the Partner Financial Institutions.  
• 5.5  You hereby undertake and agree that: (i) any pin or OTP or password or any unique number issued by LPL or the Partner Financial Institutions in relation to the Authentication Process shall be used only by You and shall not be disclosed to any third party; and (ii) You shall take all the necessary steps, including deleting or destroying all records of the Authentication Process, to ensure that any unauthorized disclosure of the same is prevented.  
• 5.6  You agree to immediately notify LPL and/or the Partner Financial Institution of any unauthorized use of Your Authentication Process or any other breach of security whether on LPL Portals or otherwise. You further acknowledge and agree that LPL and/or the Partner Financial Institutions, as the case may be, will not be liable for any costs, expenses, fees, charges, losses, damages or fraud or other liability arising from Your failure to comply with these CLO Terms and Conditions, or from any unauthorized access to or use of the pin, the OTP, the password, or any such unique number issued by LPL or the Partner Financial Institutions in relation to any Authentication Process for a particular Credit Line Transaction by children, minors, Your dependents or any other person(s). It is hereby clarified that LPL and the Partner Financial Institutions, including their affiliates, employees, agents etc. never ask anyone to share pin, the OTP, password, Your personal information or any such unique number issued by LPL or the Partner Financial Institutions in relation to any Authentication Process or otherwise. Accordingly, it is Your responsibility to ensure that there is no unauthorized disclosure by You to any other person of Your pin, the OTP, password, or any such unique number issued by LPL or the Partner Financial Institutions.  You irrevocably and unconditionally acknowledge and agree that You shall be solely liable for any costs, expenses, fees, charges, losses, damages or other liability incurred by You, LPL and/or the Partner Financial Institutions, as the case may be, for any fraudulent Transactions, due to or arising from Your failure to comply with these CLO Terms and Conditions or any other reason and LPL and the Partner Financial Institutions shall have no liabilities in this regard. 
• 5.7  You hereby acknowledge that other than issuing the OTP in relation to any Authentication Process for a particular Credit Line Transaction, LPL and the Partner Financial Institutions have no obligation or liability to verify the Credit Line Transactions entered into, authenticated and/or authorized by You. Each Credit Line Transaction will be deemed to have been undertaken and authorized by You. You will not be permitted to revoke or cancel such Credit Line Transactions at any time unless permitted by Partner Financial Institutions. ​     ​ 

6  PAYMENT

• 6.1 Under the Credit Line Option offered by a Partner Financial Institution, You may be permitted to make payment of the purchase price of the products and/or services (Credit Line Transaction Amount) as per the permitted utilization or drawdown methods, as offered by the Partner Financial Institutions from time to time, subject to the monetary limits specified by the Partner Financial Institutions (Credit Line Monetary Limit). You acknowledge and agree that the Credit Line Monetary Limit as well as payment terms may be varied or modified from time to time by the Partner Financial Institutions.  
• 6.2  You hereby acknowledge and agree that for Credit Line Transactions processed through a Partner Financial Institutions, You will be required to pay the Credit Line Transaction Amount, together with interest and other charges to the Partner Financial Institution, in accordance with the terms and conditions agreed between the Partner Financial Institution and You. You hereby acknowledge that recovery partners of Partner Financial Institutions have been authorized by Partner Financial Institutions to collect payments from You on their behalf. Accordingly, You hereby authorize such recovery partners and their authorized representatives to collect the Credit Line Transaction Amount, together with interest and charges from You.  For details of such recovery partners, please visit the website of respective Partner Financial Institutions. 
• 6.3  You further understand that in order to enable the Partner Financial Institution to collect the Credit Line Transaction Amount for each Credit Line Transaction, You will have to opt for the registration of the E-mandate: (a) with or through LPL (through LPL Portals or any other mode specified by the Partner Financial Institutions) or (b) with the Partner Financial Institutions, as may be required by the Partner Financial Institutions. You hereby confirm that in the event You have already registered an E-mandate with an affiliate of LPL or the Partner Financial Institutions, You hereby authorize LPL and/or or the Partner Financial Institution, as the case may be, to collect payments for any Credit Line Transaction using such E-mandate.  
• 6.4  You hereby further acknowledge and agree that upon completion of the Authentication Process and of the relevant Credit Line Transaction, the Partner Financial Institutions (either on their own or through LPL Portals)  shall issue (or otherwise make available through electronic means) a statement to You in relation to the Credit Line Transactions undertaken by You by using the Credit Line Option from Partner Financial Institutions (Credit Line Statement). Partner Financial Institutions shall be entitled to issue a single statement covering all the Transactions undertaken by You during a specified period, or individual Credit Line Statements, at its sole discretion (each, a Statement). The Statement shall specify the amounts required to be paid by You in relation to the Credit Line Transactions (Credit Line Statement Amount), and the timelines, and manner in which such amounts are required to be paid by You. The Statement will be issued to You as per the timelines specified in the facility documents accepted and executed by You in favour of the Partner Financial Institutions.  
• 6.5  You undertake to pay the Credit Line Statement Amount in accordance with the timelines and the manner specified in the facility documents accepted and executed by You in favour of the Partner Financial Institution. You acknowledge and agree that the date(s) specified in the facility documents accepted and executed by You in favour of the Partner Financial Institution and Statement for payment of the Credit Line Statement Amount (each a Due Date) is/ are the date(s) by which the Credit Line Statement Amount should be credited to the bank account of the Partner Financial Institutions.  
• 6.6  You confirm and agree that You shall not use any payment method other than the permitted payment methods notified by the Partner Financial Institutions, for the purpose of paying/repaying any Credit Line Statement Amount.  
• 6.7  You acknowledge and agree that LPL and the Partner Financial Institutions shall not be liable under any circumstances whatsoever in relation to: (i) non-delivery and/or delay in receipt of the Statement as a result of any default, non-delivery or delay due to any third-party telecom service provider(s) and/or other service provider(s) used by LPL or the Partner Financial Institutions; or (ii) any delay caused in payment of the Credit Line Statement Amount due to the time taken for settlement and clearing of the Credit Line Statement from Your bank account to the bank account of the Partner Financial Institutions. 
• 6.8  You acknowledge and agree that in the event the applicable Credit Line Statement Amount is not credited to the bank account of the Partner Financial Institutions, by the relevant Due Date, You shall be liable to pay the late payment charges and/or penal charges as specified in the facility documents accepted and executed by You in favour of the Partner Financial Institution, over and above the outstanding amount due and payable by You to the Partner Financial Institution (Additional Amount). You further acknowledge and agree that the Additional Amount charged by Partner Financial Institutions is a genuine and reasonable pre-estimate of loss that the Partner Financial Institutions  will suffer and is not a penalty, and the Partner Financial Institutions shall have the right to modify the applicable Additional Amount from time to time by giving prior notice to You and You undertake that You shall not raise any objections against the imposition of the Additional Amount. The Partner Financial Institutions may at their sole discretion waive any Additional Amount payable by You. 
• 6.9  After issuance of the Statement, the Partner Financial Institution or LPL (for and one behalf of the Partner Financial Institution) may issue periodic reminders to You in relation to the Credit Line Statement Amount and/or the Additional Amount due and payable. If You fail to make payment in full of the applicable amounts by the specified Due Date, You shall be issued a reminder within 3 (three) days from such Due Date (First Reminder). If You fail to make payment within the period specified in the First Reminder, the Partner Financial Institution or LPL (for and on behalf of the Partner Financial Institution) shall send to You, a final intimation demanding the payment of the applicable amounts (Final Reminder). The Final Reminder may also state the steps that the Partner Financial Institution may take to realize the Credit Line Statement Amount and/or the Additional Amount from You. The above-mentioned timelines are subject to changes at the discretion of the Partner Financial Institutions 
• 6.10  You irrevocably and unconditionally agree that the Partner Financial Institutions, shall realize or set-off the Credit Line Statement Amount and/or the Additional Amount from You, at Your sole risk and cost, by: (i) setting-off the Credit Line Statement Amount and/or the Additional Amount against any amounts available with the Partner Financial Institutions,  that belongs to You; (ii) charging/ debiting Your bank account or any other payment instrument (such as a designated credit card account or a designated debit card account etc.) held under Your name; and/or (iii) engaging any third person/recovery partners to collect the Credit Line Statement Amount and/or Additional Amount from You. In this regard, You irrevocably and unconditionally agree to undertake all necessary actions as may be required by the Partner Financial Institutions, and provide consent for any deductions to be made in accordance with this Clause 6.10. 
• 6.11  If You fail to pay the Credit Line Statement Amount on a Due Date, LPL and/or the Partner Financial Institutions shall be entitled to suspend the User Account of the User at its sole discretion. 
• 6.12  Notwithstanding anything to the contrary contained in these CLO Terms and Conditions, the Partner Financial Institutions, shall have the right to take such actions and initiate such proceedings as they deems appropriate or may be entitled to in contract, law, equity or otherwise, to recover the Credit Line Statement Amount, together with any Additional Amounts, from You, at Your sole cost, risk, and expense. 
• 6.13  You acknowledge and agree that the repayment of the Credit Line Statement Amount and/or the Additional Amount shall not be affected, impaired or discharged by Your bankruptcy or death or otherwise and that the Partner Financial Institutions shall be entitled in such scenarios to recover the Credit Line Statement Amount and/or the Additional Amount from Your properties, assets and/or from Your legal heirs or successors.  

7   SUBMISSION OF PERSONAL INFORMATION

• 7.1  You understand that in order to avail the Credit Line Option, the Partner Merchant has shared, or will share (upon You opting for the Credit Line Option) with LPL, Your Registered Phone Number and other Personal Information of Yours (including the name, address, and other basic details) provided by You to the Partner Merchant or which you have provided your express consent to the Partner Merchant to share it with LPL. You hereby provide your express consent to LPL to further share such information with the Partner Financial Institutions for the purpose of enabling the Partner Financial Institutions to determine Your eligibility to avail the Credit Line Option and other related services provided via the LPL Portals.  
• 7.2  You represent that the Personal Information provided by You to the Partner Merchant and shared by the Partner Merchant with LPL at the time of registration, opening of the User Account and at all other times is and shall always remain true, accurate, updated, and complete. You undertake and agree to maintain and update the Personal Information and to keep the Personal Information true, accurate, and complete.  
• 7.3  You shall be obliged to provide to LPL and/or the Partner Financial Institutions, as the case may be, from time to time, any additional information or documentation to: (i) ensure conformity with any requirements arising under Applicable Law; and (ii) verify the accuracy and completeness of the information provided by You. LPL and/or the Partner Financial Institution, as the case may be, also reserve the right to obtain, receive or verify information in relation to You from any service provider, financial institution, and/or governmental agency. 
• 7.4  You hereby agree that Your Personal Information shall be collected, handled, stored, analyzed, and used by LPL and/or the Partner Financial Institution, as the case may be, for the purpose of providing You access to LPL Portals and use of LPL Services and to comply with Applicable Law. You acknowledge and agree that LPL shall collect, handle, store, analyze and use Your Personal Information in accordance with the LPL Privacy Policy available at https://lazypay.in/privacy-policy .  
• 7.5  If any Personal Information provided by You or on Your behalf is untrue, inaccurate, not current or incomplete, LPL shall be entitled at its sole discretion to suspend or terminate the User Account and refuse any and/or all LPL Services. LPL and/or the Partner Financial Institutions, as the case may be, shall not be liable or responsible in any manner whatsoever for any loss or damage incurred by You or any dispute initiated by or against You, due to any untrue, inaccurate, not current, or incomplete Personal Information provided by You. 

8   CANCELLATION AND REFUNDS

• 8.1  For Credit Line Transaction, the manner of cancellation and refund shall be in accordance with terms and conditions agreed between the Partner Financial Institutions and You or as may be specified by the Partner Financial Institutions from time to time.  

9   LIMITATION OF LIABILITY

• 9.1  You irrevocably and unconditionally acknowledge and agree that: (i) LPL has no responsibility to ensure the availability of the Credit Line Option by a Partner Financial Institutions; (ii) LPL’s liability with respect to the Credit Line Option shall be limited solely to the extent set out in these CLO Terms and Conditions; (iii) LPL shall not, in any manner, be liable to You for any failure or delay by any Partner Financial Institutions in providing the Credit Line Option; (iv) LPL shall not, in any manner, be liable to You for the sale, quality and delivery of any product and/or service including frauds, delays or incorrect deliveries or non-receipt of products/services pursuant to any Credit Line Transaction undertaken by You; and (v) LPL shall not be responsible, in any manner whatsoever, for any costs, expenses, fees, charges, loss or damages incurred by You for a fraudulent or failed or delayed, or incomplete Credit Line Transaction undertaken by You.  
• 9.2  You irrevocably and unconditionally assume the entire risk of using LPL Portals and entering into Credit Line Transactions. To the maximum extent permitted by Applicable Law, LPL shall in no event be liable to You for: (i) any special, incidental, exemplary, indirect, punitive or consequential damages whatsoever (including, without limitation, damages for loss of goods and/or services, loss of business profits, business interruption, loss of information, or any other pecuniary loss), arising out of the use of, or inability to use or access, LPL Portals and to enter into any Credit Line Transaction, or for any security breach or any virus, bug, unauthorized intervention, defect, or technical malfunctioning etc. of LPL Portals, whether or not foreseeable and whether or not LPL has been advised of the possibility of such damages, or based on any theory of liability, including breach of contract or warranty, negligence or other tortious action; or (ii) any other claim arising out of or in connection with Your use of, or access to, the LPL Portal and/or the Credit Line Option. LPL shall not be liable to You for any suspension or discontinuance (temporary or permanent) of the services provided by LPL to any Partner Merchant and/or You or for any consequences resulting from such actions. You acknowledge and agree that LPL Portals, Partner Financial Institutions’ platform, and/or the Partner Merchant Website may be interrupted while browsing, transacting, using or uploading information. 
• 9.3  All products and/or services made available to You by the Partner Merchant are provided on an as is and as available basis, without any representations and warranties, express or implied, by LPL or Partner Financial Institutions. LPL and/ or Partner Financial Institutions do not make any representations or warranties in relation to the information, content, products and/or services made available to You by the Partner Merchant. You hereby irrevocably and unconditionally acknowledge and agree that LPL and/or the Partner Financial Institutions are not responsible or liable in any manner, under any circumstances whatsoever, for the products and/or services purchased by You from the Partner Merchant; any liabilities towards any direct, indirect, consequential or punitive damages due to deficiencies, inferior quality, fraud, merchantability, fitness for any purpose, pricing and/or specifications of products and/or services; and/or in relation to any issue or dispute or fraud relating thereto.  
• 9.4  You acknowledge and agree that LPL and/ or the Partner Financial Institutions shall not be liable for failure of any Transaction for any reason whatsoever, including but not limited to, any non-performance or omission or commission on the part of the Partner Merchant, deficiency of services rendered and/or products delivered, technical errors and frauds undertaken on the Partner Merchant Website. You acknowledge and agree that You shall be solely liable for any losses or disputes, or fraudulent Transactions undertaken with the Partner Merchant or on the Partner Merchant Website and that LPL and/or the Partner Financial Institution shall have no liabilities or responsibilities in this regard. 
• 9.5  The Credit Line Option is made available to you at the sole discretion of the Partner Financial Institutions. LPL will not in any way be responsible to You for any non-approval or non-disbursement or failure or delay or early recall or changes to any terms of the Credit Line Option (including the applicable fees and charges, rate of interest or date of payment/Due Date) by the Partner Financial Institutions in relation to the Credit Line Option. 
• 9.6  You further agree, acknowledge and confirm that under the aforesaid circumstances Your only recourse will be against the Partner Merchant and the Partner Financial Institutions and LPL will neither be necessary nor a proper party to any such issue and/or dispute between Yourself and the Partner Merchant. 

10   TERMINATION

• 10.1  LPL may at any time suspend and/or terminate, in whole or in part, the services and activities performed by LPL in relation to the Credit Line Option (including as set out hereunder) for any reason whatsoever, including for reasons of breach by the User of these CLO Terms and Conditions and/or any of the policies made available on LPL Portals.  
• 10.2  You may terminate Your arrangement with LPL in relation to the User Account by writing to the customer care team of LPL at wecare@lazypay.in and after payment of all outstanding amounts due and payable to LPL and/ or Partner Financial Institution. Notwithstanding the termination of Your arrangement, the use of Your Personal Information by LPL will be subject to the terms of the LPL Privacy Policy. 
• 10.3  In the event of any termination or suspension of services or the User Account, You shall be liable to pay in full all amounts due and payable by You to LPL and/ or Partner Financial Institution. 

11   INTELLECTUAL PROPERTY

• 11.1  You acknowledge and agree to abide by the terms of Clause 14 (Intellectual Property) of the General Terms and Conditions in relation to the Intellectual Property of LPL. 
• 11.2  All the contents on LPL Portals and all information and material in relation to the Credit Line Option provided by LPL is the copyright of LPL, except for any third-party content and any link to third party websites. LPL does not represent or endorse the accuracy or reliability of any such third-party content or websites or the quality of any products, information or other materials displayed, or obtained by You by relying on or by accessing third-party content or third-party websites. 
• 11.3  Nothing contained herein or in these CLO Terms and Conditions shall authorize You to use, display or exploit the rights of LPL in relation to the Intellectual Property without the prior written consent of LPL. 

12   TERMS AND CONDITIONS

Clause 11 (Notices), Clause 12 (Grievance Redressal Mechanism), Clause 13, (Governing Law and Jurisdiction), and Clause 15 (Miscellaneous) of the General Terms and Conditions shall mutatis mutandis apply to these CLO Terms and Conditions. 

By accepting the CLO Terms and Conditions in such mode as may be specified by LPL from time to time, or by virtue of usage of LPL Portals, the Credit Line Option, or by virtue of the continued usage thereof, You: 

• a)  confirm that You are eligible under Applicable Law to enter into a valid contract and confirm that these CLO Terms and Conditions constitute a valid, binding and enforceable contract between You and LPL; and  
• b) accept these CLO Terms and Conditions.
   

This document is published in accordance with the provisions of Rule 3(1)(a) of the Information Technology (Intermediary Guidelines and Digital Media Ethics Code) Rules 2021 as amended from time to time.