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Last Updated: Sept, 2016
IMPORTANT: PLEASE READ THE FOLLOWING CAREFULLY BEFORE AGREEING TO PARTICIPATE IN THE FINSURE BUSINESS ASSOCIATE PROGRAM. YOUR PARTICIPATION IN THE FINSURE CHANNEL PROGRAM IS CONDITIONED UPON YOUR ACCEPTANCE OF ALL THE TERMS AND CONDITIONS CONTAINED IN THIS AGREEMENT. BY SELECTING THE "ACCEPT" BUTTON AT THE BOTTOM OF THE ONLINE APPLICATION, YOU ARE ENTERING INTO A LEGAL AGREEMENT WITH FINSURE, FORMALLY INDICATING YOUR ACCEPTANCE OF THE TERMS AND CONDITIONS CONTAINED IN THIS AGREEMENT (THE AGREEMENT). YOU AGREE TO BE BOUND BY THE TERMS AND CONDITIONS OF THIS AGREEMENT. IF YOU DO NOT ACCEPT THE TERMS OF THIS AGREEMENT, DO NOT SELECT THE "ACCEPT" BUTTON AT THE BOTTOM OF THE ONLINE APPLICATION.
The terms in this Agreement include the following
"Business Associate" means a party accepted as a member of the Channel Program
"you" or "your" means the applicant interested in participating in the Channel Program
"our website" indicates FINSURE's website currently located at www.finsureman.com
"we", "us" "our" means FINSURE, or the Company, on acceptance of participation from our end
The first step is to complete the FINSURE business associate Application and accept the terms and conditions of the Agreement. We then review your completed application and decide whether or not to accept your participation in the Program. We hold complete discretion of accepting or rejecting your application and may reject applications that are inappropriate or objectionable. We possess complete discretion of rejecting an Application even after communicating acceptance to you. We may even remove a business associate from the Program at any time we feel the necessity to do so. In case of rejection of Application, you will not be eligible to participate in the Channel Program this time. You may however, re-apply any time later.
Business Associate’s Responsibility
Business Associate guarantees that is has the legal authority to represent its borrower clients and to provide FINSURE with their confidential information.
Business Associate will submit completed business loan applications with relevant documents of their borrower clients to FINSURE’s representative.
Business Associate will use its best efforts to ensure that all information provided is accurate and verified. Regular audits will be performed by FINSURE analysts on lead applications submitted by the business associate
Business Associate cannot make any representations, warranties or other statements concerning FINSURE or any of FINSURE’s products or services except as expressly authorized by the Agreement.
Business Associate should not use any inducement, threat, coercion, misrepresentation, unethical or unlawful means and false, incorrect or misleading representations for availing the facility.
Business Associate shall indemnify the FINSURE and keep the FINSURE harmless against any and all actions, costs, losses, damages and attorney’s fees claimed or threatened against the FINSURE arising from channel arrangement set forth herein.
While providing the services under this agreement, you may access to confidential or proprietary information regarding the FINSURE and related business entities (the “Information”) and you acknowledge and undertake to maintain the secrecy and confidentiality of such information.
FINSURE will use its best efforts to match completed loan applications received from the Business Associate with multiple lenders on its marketplace platform based on borrower profile and lender requirements.
Business associate hereby agrees to indemnify, defend FINSURE and its affiliates, directors, officers, employees and agents from and against any and all liability, claims, losses, damages, injuries or expenses incurred as a result of a breach, or alleged breach, of any of your representations or obligations herein.
Business associate guarantees that is has the legal authority to represent its borrower clients and to provide FINSURE with their confidential information.
Each party must keep confidential the existence and terms of this Agreement any other confidential information in relation to the Company that is disclosed and must ensure that their respective Personnel do likewise.
Term & Termination.
This Agreement shall commence once business associate accepts the terms & conditions of this agreement and FINSURE accepts business associate into the Channel Program. The Agreement shall continue in effect until terminated by either Party without cause at any time by giving the other Party thirty (30) days written notice.
However, if business associate is accused or proven to be involved in any unlawful activity, then this agreement will be terminated with immediate effect without involving any notice period.
Business associate will receive a service fee for each borrower application that receives financing from one of FINSURE’s empaneled lenders. This service fee will be calculated as per the schedule of fees below and will be based on funds disbursed to the borrower by the lender. This fee will be due to the business associate within 60 days of successful fund disbursal by the lender. No fee will be accrued or paid to business associate in case an application submitted on FINSURE is not converted into a disbursed loan.
Rates are subject to change at any time and at a minimum will be reviewed on an annual basis.
This Agreement shall be governed by the laws of India. This Agreement constitutes the entire understanding and agreement between the parties hereto and their affiliates with respect to its subject matter and supersedes all prior or contemporaneous agreements, representations, warranties and understandings of such parties (whether oral or written). No promise, inducement, representation or agreement, other than as expressly set forth herein, has been made to or by the parties hereto.
Finsure Management Private Limited
1st Floor, 83/1, Bidhan Sarani, Kolkata-700 004
Corporate Identification Number (CIN): U74140WB2012PTC182971
Phone: 033 - 6500 - 0818