Terms and Conditions

‘Sikka’is the trading name of‘Penny fin-tech solutions private limited’,whose registered office is situated atB-18/11, DLF Phase 1, Sikanderpur Ghosi, 2nd Floor, DLF Phase 1, Gurugram, Gurugram, Haryana, 122002 India. (hereinafter shall be referred to as ‘Sikka ’or ‘Company ’or ‘Us ’or ‘We’ Or ‘Platform ’).

As a Customer / User ("User" or "You") of the Platform, You understand that Platform provides access between multiple Users in the form of consumers, financial institutions, data partners and other partners lenders, borrowers, service providers etc. with a view to facilitate lending and borrowing activities, including providing other financial products, investment avenues like investment in gold / digital gold etc. between the Users.

List of our lending partners is provided at Schedule 1 herewith.

It is hereby clarified that the term "Users" shall mean any person using the Platform i.e. consumers, financial institutions, regulated entities, and other partners. Your use of this Platform implies that You have read, understood and agreed to abide by following, disclaimer, terms & conditions ("Terms & Conditions").

Please read these Terms & Conditions carefully before accessing or using our Platform. By accessing or using any part of the Platform, You agree to be bound by these Terms & Conditions. If You do not agree to all the terms and conditions of this agreement, then You may not access the Platform or use any services provided by Us.

General

Sikka is a platform facilitating the loan transactions between the borrowers and the NBFCs/Banks. All loan applications are approved and sanctioned by NBFCs/Banks registered with RBI and communicated upfront during Loan application. The Platform also facilitates investments in various instruments including but not limited to Physical / Digital Gold and others.

The Platform provides access to an online platform bringing together consumers, financial institutions, data partners and other partners willing to abide by the Terms & Conditions herein. In the event You wish to avail any of the Products displayed on the Platform You will be required to provide certain information and our representatives may contact You through phone or email to understand Your requirements.

About Sikka & activities it undertakes;

1. Facilitating Users to obtain a loan / credit facility from various banks and non-banking financial companies who are the lending partners of Sikka;

2. Assisting its Users to obtain their credit report through authorized agents partnered with Sikka / Its Partner NBFC/Banks

3. Provision of data analysis and social score based on device data and User’s Facebook, Twitter, LinkedIn or any other social media accounts that are linked with User’s account on the Platform.

4. Facilitating Users to transact (invest/redeem) in various financial / non- financial - assets /instruments from Product Manufacturers / Distributors or directly from Gold mining companies for instance.

For the provision of the above mentioned Services, Sikka will be using and sharing the information of the User with multiple financial / non financial institutions and other parties, as may be required for the purpose mentioned above and Sikka may run multiple credit checks to be able to get the best available offers to suit the needs of the Users. The collection, storing, use and transfer of information shared by the User shall be governed in accordance with the Privacy Policy of the Company.

Sikka provides various services, including but not limited to (“Services”):

1. By registering with Sikka and by using Sikka’s services (referred to collectively as "Services"), You understand and agree that Sikka will treat Your use of the Services as acceptance of these terms and conditions ("Terms") from that point onwards.

2. You understand and acknowledge that "Sikka" is the trademark for“Penny fin-tech solutions private limited” which has its registered office address at Office noB-18/11, DLF Phase 1, Sikanderpur Ghosi, 2nd Floor, DLF Phase 1, Gurugram, Gurugram, Haryana, 122002You acknowledge and agree that Sikka owns all legal rights, titles and interests in and to the Services, including any intellectual property rights which subsist in the Services (whether those rights are registered or not, and wherever in the world those rights exist.

3. You understand that you do not have the right to use any of Sikka’s trade names, trademarks, service marks, logos, domain names, and other distinctive brand features. You do not have the right to remove, obscure, or alter any proprietary rights notices (including trademark and copyright notices), which may be affixed to or contained within the Services. You will not copy or transmit any of the Services.

4. You further acknowledge that the Services may contain information which is designated confidential by Sikka and that You shall not disclose such information without Sikka’s prior written consent. You will not copy, create a derivative work from, modify, reverse engineer, reverse assemble or otherwise attempt to discover any source code, sell, assign, sublicense, grant a security interest in or otherwise transfer any right in the Services.

5. You agree not to use the Platform / website for any purpose that is unlawful, illegal or forbidden by these Terms, or any local laws that might apply to You. Sikka may, at its sole discretion, at any time and without advance notice or liability, suspend, terminate or restrict Your access to all or any component of the website or the availability of the website itself.

6. You agree to provide and accurate details pertaining to your income.
   

7. Sikka may modify these Terms, at any time, by posting notice on the website before any modification becomes effective.

ELIGIBILITY

1. You hereby declare that You are over 18 years of age, of sound mind and a person resident in India as defined under Foreign Exchange Management Act, 1999.

2. You hereby declare that you are a human being and not a “bot”.

SERVICES

1. You hereby confirm to register to avail a loan / credit for services provided by Sikka.

2. You hereby understand and acknowledge that the information requested is for the purposes of complying with various laws, regulations and guidelines (including Know Your /Customer (KYC) norms / Anti-Money Laundering (AML) standards / Combating of Financing of Terrorism (CFT) / Obligation of banks under the Prevention of Money Laundering Act, 2002) promulgated by the Government of India from time to time by Sikka or its associated partners. You further acknowledge that if you do not provide the requested information, Sikka or its partners will be unable to provide or continue its / their services to You.

3. You confirm that all information given to Us (whether in Sikka’s online form or otherwise) is true, correct and not misleading. You agree to provide any additional documents / information as may be required from time to time.

4. Upon clicking ‘I Accept’ you will be bound by the terms of the loan agreement in relation to the credit facility for credit worthiness, verifying identity to prevent and detect crime and money laundering / and you’ll also be bound by terms of other investments availed by you through the Platform.

5. You hereby understand that when You apply for a loan, Sikka / Partner may check your records amongst other things with its own records, any information as available to Sikka through any of its sources, those at credit reference agencies (CRAs); those at fraud prevention agencies (FPAs) for assessing your credit worthiness, verifying identity to prevent and detect crime and money laundering.

6. Sikka / Partner also has the right, and obligation, to report your details to CRAs in the event that you have delayed in repaying your loan instalment.

7. Your lender also has the right, and obligation, to report your details to Credit Information Company’s (CIC) in the event that you have delayed repaying your loan instalment.

8. You acknowledge that Sikka does not lend any money directly to you, but arranges the loan for you from one or more lending partners.

9. Sikka may assign Credit Limit to you based on its our assessment of Your eligibility based on various factors including policies of our lending partners, the market influences and our previous experiences.

10. You acknowledge that interest rates may vary across different lenders, borrowers and loans. To understand the approach that may be followed by Your lender in determining the interest rate, please visit the website of ourlending partners.

CUSTOMER COMMUNICATIONS

Accepting these Terms, implies Your express consent to be contacted by Us, representatives, affiliates, or anyone calling on our behalf at any contact number, or physical or electronic address provided by You while registering Your account with Sikka. You further agree to Us contacting You in any manner, including without limitation, emails, SMS messages, WhatsApp, calls using pre-recorded messages or artificial voice, and notifications sent via our mobile application. You also acknowledge that You understand the English language and are most comfortable receiving communications in the English language.

PRIVACY AND CONSENT

1. You hereby acknowledge, understand and consent to the terms contained in Sikka’s “Privacy Policy”, provided atthesikka.comwhich You have duly read and fully understand/or acknowledge, agree and give consent to Sikka that Sikka and its officers, employees, service providers and agents may use, store, process, disclose, transfer (whether within or outside India) and / or exchange your information (including personal data) in accordance with Sikka’s “Privacy Policy”.

2. You may have authorised your Business Partners/Associates/Others to share your information with third parties like us to facilitate credit, relying on this authorisation, we may have reached you directly or through them. If not, please do write to us so that we do not continue to contact you.

3. You hereby authorise and permit Sikka to disclose, from time to time, any information on or relating to You to any of its subsidiaries or affiliates or to any governmental authority, statutory authority, judicial authority or credit bureaus, associated partners, lenders, whether in India or any other jurisdiction, or Reserve Bank of India or third party or Sikka’s consultants, advisors or service providers as provided in Sikka’s “Privacy Policy”, without requirement for any further consent from you.

4. You are responsible for maintaining the secrecy of your passwords, login and account information. You will be responsible for all use of the website by You and anyone using Your password and login information (with or without my permission). You will only use the website to search for and to apply for loans and will not use the website to make any fraudulent applications.

5. You acknowledge that our lending partners reserve the right to reject your application for any facility without assigning any reasons whatsoever without any intimation to you.

6. You understand that We/ Our lending partners may retrieve/ procure/download your KYC data/ details from the Central KYC registry for the purposes of verifying/establishing the data/details/identity and you hereby allow us/them to do so.

7. By registering with Us, You consent to the use of your information as outlined in Our privacy policy as available on its website.

8. I do hereby give my free consent and authorize Sikka and its NBFC Partners by providing my personal information to obtain my Credit Information Report and Credit Score from CRIF High Mark from time to time for the purpose of credit / loan extension and / or facilitating investment, on-boarding me onto the ‘Sikka ’ app, a digital lending platform and not for any other purposes. I hereby unconditionally consent to and instruct CRIF High Mark to provide my credit information to Sikka & its NBFC Partners. I also acknowledge that I shall not raise any claim or hold CRIF High Mark liable in relation to my Credit Information Report and Credit Score provided or to be provided by CRIF High Mark to Sikka. I understand that I shall have the option to opt out/unsubscribe from the service.
   

LIMITATION OF LIABILITY

1. All content and services provided on the website are provided on an "as is" and "as available" basis. Sikka expressly disclaims all warranties of any kind, whether express or implied, including, but not limited to, the implied warranties of merchantability, fitness for a particular purpose, title, non-infringement, and security and accuracy, as well as all warranties arising by usage of trade, course of dealing, or course of performance. Sikka makes no warranty, and expressly disclaims any obligation, that:the content will be up-to-date, complete, comprehensive, accurate or applicable to my circumstances; (b) the website will meet my requirements or will be available on an uninterrupted, timely, secure, or error-free basis; (c) the results that may be obtained from the use of the website or any services offered through the site will be accurate or reliable; or (d) the quality of any products, services, information, or other material obtained by You through the site will meet Your expectations.

2. Sikka (including its officers, directors, employees, representatives, affiliates, and providers) will not be responsible or liable for (a) any injury, death, loss, claim, act of god, accident, delay, or any direct, special, exemplary, punitive, indirect, incidental or consequential damages of any kind (including without limitation lost profits or lost savings), whether based in contract, tort, strict liability or otherwise, that arise out of or is in any way connected with (i) any failure or delay (including without limitation the use of or inability to use any component of the website), or (ii) any use of the website or content, or (iii) the performance or non-performance by Sikka or any provider or (b) any damages to or viruses that may infect my computer equipment or other property as the result of my access to the website or my downloading of any content from the website.

3. While We strive to be accurate in our assessment of your eligible credit limit, You must acknowledge that the final decisions regarding the loan/credit being provided to You is taken by our lending partner. You agree to not hold Sikka liable if any lending partner does not make credit available to you

ACKNOWLEDGEMENTS

You acknowledge that Sikka is a platform bringing Users together and not engaged in either grant of loan or borrowing any money & merely provides assistance for availing loan/credit facilities from Lenders. You acknowledge that Sikka will not be responsible for any claim or damage in case of use of the lending products. Sikka in no manner warrants or guarantees the performance of a third party service provider that is providing services through the Platform. You acknowledge that Sikka in no manner responsible for any claim of money or damages in the event one person fails to either grant loan or a person fails to repay the loan or misrepresents his financial status or commits a fraud or cheating or any other such illegal act.

ASSIGNMENT

You will not assign or otherwise transfer your rights or obligations under these Terms. Sikka Platform may assign its rights and duties under these Terms without any such assignment being considered a change to the Terms and without any notice to You.

ARBITRATION AND GOVERNING LAW

The laws of India, without regard to its conflict of laws rules, will govern these Terms. In case of any legal action courts located in Mumbai will have jurisdiction over such matters. In any such action or any action we may initiate, the prevailing party will be entitled to recover all legal expenses incurred in connection with the legal action, including but not limited to costs, both taxable and non-taxable, and reasonable attorney fees.

GRIEVANCES

Users have complete authority to file a complaint/ share feedback if they are disappointed by services rendered by Sikka Platform. They can give their complaint/ feedback in writing or by way of an email to the following:

Email:Contact@thesikka.com

SCHEDULE 1

LIST OF THE LENDING PARTNERS

TERMS AND CONDITIONS OF ‘GOLD ACCUMULATION PLAN’ OR ‘GAP’ BY MMTC - SIKKA

These “terms” and "Conditions of Use" (“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. By transacting for GAP on the GAP Partner Platform, you are agreeing to and accept these Terms and Conditions.

1. In these Terms, references to "you", or "Customer" shall mean the counterparty who transacts using the Partner Platform, being a natural person,buying Gold from MMTC- SIKKA, redeeming Gold in the form of redeemable products sold by MMTC-SIKKA, transfer by Customer(s) to other Customer(s), selling back Gold to MMTC-SIKKA and receiving other related services in relation to GAP. “Partner Platform” shall mean the GAP PARTNER Platform owned and operated by the GAP PARTNER, that You accesses for the GAP transactions, including all contents, services and technology offered through the Partner Platform. "Service Providers" mean independent third party service providers. References to the “Seller”, "MMTC-SIKKA", "we", "us" and "our" shall mean MMTC-SIKKA India Private Limited, the owner of the GAP offering and the entity that will sell Gold. “Transfer” refers to a facility to transfer Gold from Gold account of one Customer to Gold account of another Customer(s).

2. Capacity to enter into these Terms You represent and warrants that:

   1. You are of legal age and under no legal disability or incapacity, to enter into, these Terms and the transactions contemplated by it, and perform its obligations; and

2. You are not insolvent.

3. You represent and warrants that these Terms constitute a legal, valid and binding obligation and that all orders to be placed and transactions to be conducted under these Terms are lawful;

4. In executing and giving effect to these Terms, you do not and will not infringe any provision of any other document or agreement to which You are a party, nor any law or judgment / order binding upon it;

5. MMTC–SIKKA collectively, reserves the right to change these Terms at any time. Such changes will be effective when posted on the Sikka Platform and shall be deemed to be notified to You accordingly. Notwithstanding anything contrary, you shall be responsible for regularly reviewing the Terms, including amendments thereto as may be posted on the Sikka Platform and shall be deemed to have accepted the amended Terms by continuing the use of Sikka Platform.

6. MMTC-SIKKA/GAP PARTNER shall be entitled to collect, store, use and share relevant information and documents provided by You on the Sikka Platform for KYC purposes and other purposes as permissible under applicable laws. Further, as and when required by MMTC-SIKKA/GAP PARTNER, you will be required to provide additional documents for fulfilling the KYC requirements. You authorize MMTC- SIKKA/GAP PARTNER to make such enquiries as it may feel necessary to satisfy itself about the validity of your identity. You undertake to update us in case of changeof your existing information including but not limited to your address, phone number, mobile number, email ID etc. or verification documents provided by you.
   

   We reserve the right to deactivate your Gold account, in the event you fail to provide KYC documents / information to MMTC-SIKKA / GAP Partner within required timelines. The Gold account may be activated only upon submission of relevant documents. You shall ensure that all information supplied to MMTC-SIKKA / GAP Partner by You is, or at the time it is supplied will be, accurate in all material respects and You will not omit or withhold any information which would make such information inaccurate in any material respect. You shall be responsible for the correctness of information provided by you to MMTC-SIKKA / GAP Partner from time to time. MMTC-SIKKA/GAP PARTNER will not be responsible for the incorrectness of KYC documents / information provided by You. If at any time MMTC-SIKKA finds that the KYC documents are incorrect or authenticity of such KYC is doubtful, MMTC-SIKKA may, at its sole option, deactivate or close your Gold account. If you have reasons to believe that there is an error in the information furnished to MMTC-SIKKA / GAP Partner, You shall immediately advise MMTC-SIKKA and GAP Partner in writing and forthwith provide correct / updated information. You authorizes MMTC-SIKKA to pass on / deliver all such information and documents to any third person.

7. MMTC-SIKKA reserve the right to indefinitely suspend or terminate or block access to any Gold account on the Partner Platform, 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-SIKKA and GAP PARTNER against any and all losses, claims, liabilities, costs etc. which arise out of or relating to your failure to identify yourself and validate your account promptly and / or due to incorrect KYC documents / information.

8. You can offer to buy Gold worth Rs. 10.00 (Rupee Ten Only) and above incremental value thereof at the live purchase price of Gold of 999.9 purity displayed on the Sikka Platform. Where errors have occurred in the pricing of transactions displayed by GAP Partner on Sikka Platform to You, MMTC-SIKKA, reserves the right to not be bound by such a quote or transaction. Due to delayed transmission between You and GAP Partner, the price offered on Sikka Platform may have changed before an order from You is received by GAP Partner. MMTC-SIKKA reserves the right to cancel or reverse the transaction whether before or after transaction confirmation. MMTC-SIKKA further reserves the right to credit / debit Gold balance in Your Gold account on account of cancellation or reversal of any transaction(s).

9. Payment will be accepted only through payment options made available on the MMTC- SIKKA Payment Gateway. At the time of purchase / redemption / sale-back / Transfer of Gold, the relevant taxes will be chargeable as applicable as per the Government regulations. MMTC-SIKKA will not be responsible for any wrong / erroneous credit / debit from Your/ Customer’s bank account / wallet and / or services provided by the payment solution engaged in case of misinformation or wrong information from GAP Partner. Before making any offer for purchase of Gold, You understand and acknowledge that Issuance of Invoice at the time of purchase of Gold, only records making of an offer by You for purchase of the quantity of Gold stated therein and does not create any right, title or interest in the quantity of the gold stated therein and/or against MMTC-SIKKA. The right, title and interest in the quantity of gold stated in the invoice will only accrue upon acceptance of such offer by MMTC-SIKKA and upon actual receipt of sale consideration by MMTC-SIKKA.
   

10. At the time of redemption, You can select redeemable product for redemption from catalogue of redeemable products. These redeemable products will be hosted on the Sikka Platform. The list of redeemable products may be altered, changed and amended by MMTC-SIKKA from time to time at its sole discretion.

11. At the time of redemption in physical deliverable product form, the You will pay additional manufacturing and delivery charges and applicable taxes on the same. The redeemable product selected from the catalogue for delivery shall be subject to availability of stock with the MMTC-SIKKA.

12. For each confirmed purchase of Gold by You, MMTC-SIKKA will be the custodian of the Gold, till such Gold is lying in Your Gold account subject to terms herein. The Gold purchased by You will be allocated and stored in a highly advanced and secured vault of MMTC-SIKKA, with full insurance cover.

13. You 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 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.

14. Once the redemption has been initiated by you and payment received then your Gold grams will be debited accordingly from Your Gold account.

15. MMTC-SIKKA may also, from time to time in future, offer / permit You to sell-back its Gold to MMTC-SIKKA at prevailing live sell-back price of gold of 999.9 purity, during the offer period as may be announced / permitted by MMTC-SIKKA. The money against the Gold sold by You would be credited to Your bank account as per the details provided by You.

16. Live purchase price of Gold will be displayed on the Sikka 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 may be different from that available in the open market and / or in any other retail outlet. Your offer may be rejected due to any issue with the transaction and money paid by You, if any, will be refunded. 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-SIKKA disclaims any and all claims and / or liabilities arising from such non-acceptance of offer or revision in prices.
    

17. While availing any of the payment method(s) available on the Sikka Platform, MMTC- SIKKA/GAP PARTNER will not be responsible or assume any liability, whatsoever in respect of any loss or damage arising directly or indirectly to You due to:

1. Lack of authorization for any transaction(s);

2. Exceeding the pre-set limit prescribed by MMTC-SIKKA;

3. Illegitimacy of the payment methods (credit / debit card frauds etc.) being used by You;

4. Temporary discontinuation of invitation to offer or offer to sell back;

5. Any unauthorized, inaccurate, or fraudulent transactions and / or for any chargeback transactions; and / or

6. Decline of transaction for any reason(s) whatsoever.

18. MMTC-SIKKA may, at its discretion, prescribe maximum individual / cumulative limits for You to accumulate Gold, purchase Gold, redemption of Your redeemable Gold, Transfer or sell back of Gold or any other transaction under GAP from time to time and reserves the right to refuse to accept order exceeding such limit. MMTC- SIKKA may at its discretion, prescribe maximum individual / cumulative transaction limits on GAP from time to time, and reserves the right to refuse to accept order exceeding such limit.

19. At any point of time on any day MMTC-SIKKA may temporarily discontinue the invitation to offer purchase of Gold under GAP for any reason whatsoever.

20. MMTC-SIKKA may, at its discretion, close down, suspend and / or migrate Your Gold account, if (a) the Custody Period has expired; and / or (b) MMTC-SIKKA decides to discontinue the GAP scheme and / or (c) any other reason(s) as may be determined by MMTC-SIKKA. In such event(s) You can redeem the Gold accumulated by him/her in his/her Gold account and take delivery of the redeemable products and sell back to MMTC-SIKKA the residual fractional Gold lying in his / her Gold account at the live sell-back price of Gold. Further, if the open sale back window is made available by MMTC-SIKKA, then You may sell back the product in his/her Gold account in whole or in part. The redemption and sell back by You shall be as per terms prescribed by MMTC-SIKKA’s in the notice given for exercising the right to close, under this clause. For the purpose of this clause, ‘Custody Period’ shall mean a period of 5 years from the date of last purchase / receipt of Gold in Your Gold account. In the event You fail, neglects or choose not to redeem and / or sell-back, as applicable, Your Gold holdings within the time prescribed, then MMTC-SIKKA will be entitled to levy on Your (s), custody charges at the rate of up to 0.5% (zero-point five percent) per annum of the value of Your Gold balance held in the custody of MMTC-SIKKA. The custody charges will be deducted from Your Gold balance as per frequency determined by MMTC-SIKKA. In the event that MMTC-SIKKA does not exercise its’ discretion to close down the Gold account in terms of this clause, You can continue their Gold account by paying the custody charges as provided above.

21. You will not be entitled to make an offer for delivery if the zip code of delivery address is outside serviceable areas. At time of redemption, You will be required to provide full delivery address. In the event You choose the delivery address outside the serviceable areas or if the delivery address subsequently becomes unserviceable, then on beingnotified, You may sale-back the Gold during the open sale back window as per Terms herein;.
    

22. All redeemable products selected for delivery by You for redemption, shall be delivered within India as per Your instructions through our logistics partners. All deliveries where applicable shall be made on a best-efforts basis, and while MMTC-SIKKA will endeavour to deliver the products on the dates intimated, MMTC-SIKKA disclaims any claims or liabilities arising from any delay in this regard.

23. Delivery by the logistics partners designated by MMTC-SIKKA from time to time shall be completed only after verification through an OTP (One-Time Password) sent to the registered mobile number or such other verification / authentication system that may be adopted by MMTC-SIKKA from time to time for delivery of Gold. In case You wish to change the mobile number or address provided, a formal request shall be raised for the same via Sikka Platform. The logistics partner of MMTC-SIKKA will make a maximum of three attempts to deliver Your order. After three attempts Gold coin will be delivered back to MMTC-SIKKA and You will need to put a fresh request for the redemption.

24. In case You don’t get the delivery due to any reasons attributed to MMTC-SIKKA or its delivery partner then You will get the refund of making and delivery charges.

25. In case delivery doesn’t happen due to Your unavailability or any other reason attributed to You then, MMTC-SIKKA shall not be liable for refund of making and delivery charges.

26. Any disputes, grievances, complaints, queries or issues with respect to the transaction including with respect to the quality and merchantability, shall be directed to the GAP Partner by You and will be subject to the Terms herein and addressed as per the grievance redressal policies for the GAP products and services.

27. MMTC-SIKKA shall not be liable to directly entertain any such disputes, grievances, complaints, queries or issues.

28. MMTC-SIKKA shall not be liable / responsible, in any manner whatsoever, for any loss / liability arising out of or relating to any technical failure / issue in Partner Platform and / or acts / omission. MMTC-SIKKA shall not be liable / responsible, in any manner whatsoever, for any loss / liability arising out of or relating to any technical failure / any issues related to MMTC-SIKKA Services and / or acts / omission attributable to GAP Partner and/or retailers, agents, employees, subcontractors, distributors etc appointed/engaged by the GAP Partner.

29. Notwithstanding anything contrary contained herein, You acknowledges that from time to time, and for any reason, the service, the interface and API work, and their respective information, pricing and data, and availability are subject 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 (i) computer hardware and software, telecommunication and operating systems, databases, or business processes and procedures, (ii) 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. You acknowledge and agrees that MMTC SIKKA 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 SIKKA has right to reverse / cancel without notice or 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.
    

30. Upon MMTC-SIKKA confirming the purchase, redemption, sale-back of Gold in his / her Gold account by You, Your order / request to purchase / redemption / sale-back / Transfer of Gold, as the case may be, shall be binding on You and cannot be cancelled.

31. You 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-SIKKA / GAP Partner, in electronic or documentary form of Your instructions and such other details (including, but not limited to payments made or received) pursuant to the Terms, shall as against You, be deemed to be conclusive evidence of such instructions.

32. You understand and acknowledges that any purchase, suspension of sale of products, redemption, Transfer or sale-back from / to Gold account / Transfer of Gold will be on instructions received by You, and You will not violate any applicable laws or regulations for the time being in force in or outside India. You shall be solely responsible for complying with applicable laws in respect of purchase, suspension of sale of products, redemption, Transfer or sale-back to and from the Gold account, Transfer of Gold 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. You also agree and undertakes that You will not open any account in the name of any minor. MMTC-SIKKA will not be liable in any manner in this regard.

33. Your feedbacks pertaining to products shall be deemed to be non-confidential and non- compensatory in nature. MMTC-SIKKA reserves the right, at its sole discretion to use such information and such use shall be entirely unrestricted. You hereby irrevocably authorizes MMTC-SIKKA to disclose, exchange, share or part with all the information relating to the Your details and payment history information and all information pertaining to Your GAP transaction and undertakes not to hold MMTC-SIKKA and / or / its affiliates and other group companies and their agents liable for use of the aforesaid information.

34. In the event of termination / expiry of MMTC-SIKKA’s arrangement with GAP Partner, You will be notified and You will have the option to either: (i) continue with its Gold account with MMTC SIKKA; or (ii) discontinue with its Gold account with MMTC-SIKKA. If You choose to continue with Your Gold account, Your Gold account will be migrated in the manner notified by MMTC-SIKKA to You and You agrees to provide such support and information as may be required for the purpose of transition / migration. If You choose to discontinue with Your Gold account, then You shall have the option to redeem the entire product in Your Gold account and take delivery of redeemable product and sell-back residual fractional Gold at the live sell- back price of Gold. In case of open sale back window, may sell-back the entire product in his/her Gold account, at the then prevailing live sell-back price of Gold. In addition, MMTC-SIKKA may notify You on other available similar options / plans on the Sikka Platform, and You, may choose to avail of any of such options provided by MMTC- SIKKA by following simple steps notified in that regard. If You fail to redeem the product in the Gold account within the prescribed time, MMTC-SIKKA will be entitled to charge custody charges as per clause 20 of these Terms. MMTC-SIKKA will not be liable for any loss, claim, demand, liability etc. arising on account of termination / expiry of MMTC-SIKKA’s arrangement with GAP Partner.
    

35. MMTC-SIKKA will not, at any time, and under any obligation, be required to transfer Your physical Gold in its custody to any other person / platform.

36. 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.

37. In the event any dispute arises out of or in connection with the Terms herein vis-à-vis You, 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.

38. Data Privacy:The MMTC-SIKKA Privacy Policy, as available on the website [insert link] may be amended, supplemented and / or substituted from time to time, and shall apply to all personal data and / or sensitive personal data or information that You provide to MMTC-SIKKA or that MMTC-SIKKA has obtained from any other sources or that arises from your relationship with MMTC-SIKKA. You hereby consent to MMTC-SIKKA/GAP PARTNER’s collection, transfer, storage, use, disclosure and processing of Your personal data and / or sensitive personal data or information in accordance with the GAP Agreement. Any information will not be considered as sensitive if it is freely available and accessible in the public domain or is furnished under the Right to Information Act, 2005 or any other law for the time being in force. You warrant that the personal data and / or sensitive personal data or information that you provide to MMTC-SIKKA is true, accurate and complete. Any consent You give in relation to personal data and / or sensitive personal data or information, shall survive Your death, incapacity, bankruptcy or insolvency, as the case may be.

39. Phishing:In the event that You receive an email falsely claiming to be from MMTC- SIKKA or another group entity, or requesting personal data and / or sensitive personal data or information (“Phishing”), You agree that You will not provide any information or data in response and You will contact GAP Partner’s Customer Service team without delay. MMTC-SIKKA agrees that it will never ask You to provide your password over email or telephone. Should You receive an email or telephone call which you suspect is Phishing or You are unsure about, You agree that You will report the phishing email or spoof site without delay in order to protect Yourself and fellow Customers. You understand that You should not click any links from unusual emails or download any attachments in order to access Your Gold Account.
    

40. Fraudulent Activity: If MMTC-SIKKA suspects that fraudulent activity has taken place within Your Gold account, in order to protect You, You understand that we may temporarily freeze your Gold account to prevent any further or continuing unauthorized activity.

41. Usage and Proprietary Rights: You agree that any information or data relating to, processed or created in connection with, content or operation of the GAP is confidential and proprietary to MMTC-SIKKA, and that You will refrain from disclosing such information to any third party except where required by Applicable Law.

42. Your representations and warranties:

1. You are bound by the applicable GAP product laws, applicable operating rules, customs, usages and practices.

2. You are not insolvent,

3. MMTC-SIKKA relies on representations and warranties made by You. These representations and warranties and those contained elsewhere in these Terms, survive the entering into of these Terms and are repeated in respect of each GAP product transaction. You warrant and agrees that any person who is in possession of any password is authorized by You, and You acknowledges that You will be responsible for any actions on their account associated with the use of its password. You agree to notify MMTC-SIKKA immediately should You become aware of any unauthorized use, loss or theft of the Your’s, username, password or account numbers; or inaccurate information with respect to the content of statements including, cash balances, open positions or transaction history.

43. Risk Disclosures:

You represents and warrants to MMTC-SIKKA that:

1. You have received, read, understood and accepted the risk disclosures provided herein in relation to the GAP products contained herein;

2. You acknowledges, recognizes and understands that investment in GAP may involve a degree of risk and loss;

3. You have read these Terms and understands that, UNLESS SPECIFICALLY AGREED WITH MMTC-SIKKA AND UNLESS A STATEMENT OF ADVICE HAS BEEN PROVIDED, MMTC-SIKKA has only provided general advice, and You has considered its objectives and financial situation and has obtained appropriate independent advice prior to entering into these Terms and has formed the opinion that dealing in the GAP products is suitable for Your needs and purposes;
   

4. You acknowledges that neither MMTC-SIKKA nor any associated entity guarantees the performance of any given GAP product or account nor that any GAP product or account will achieve a particular rate of return.

44. Your acknowledgements:

You acknowledges to MMTC-SIKKA that:

1. You shall not receive interest or other earnings on the Gold held in the Gold account. The use of the Platform and any services of MMTC-SIKKA does not constitute a trading of, or an exchange in, securities, investment contracts, or any document, instrument, or writing commonly known as a “security”, at law or otherwise;

2. Anything MMTC-SIKKA is permitted to do in accordance with these Terms may be done in its absolute discretion, and any opinion or view required to be formed by MMTC-SIKKA may be formed in its absolute discretion;

3. Your failure to observe any of the undertakings or representations may result in civil or criminal liability, as well as termination of the use of the MMTC-SIKKA services;

4. You are responsible for maintaining adequate security and control of passwords and any other codes that you use to access the services of MMTC-SIKKA. You agrees to accept full responsibility for the use of the Sikka Platform, for any orders transmitted through the Sikka Platform and for all communications and the accuracy of all information sent via the Sikka Platform using Your name, password or any other personal identification means implemented to identify You. MMTC- SIKKA will not be responsible for any loss or claim arising out of our relying on instructions provided to us using Your password.

5. You agree to exercise safe security practices when accessing and conducting electronic transactions. This includes signing out and closing any online electronic transaction services once all transactions have been completed regardless of Your method of accessing Sikka Platform.

6. You understand and acknowledge that Issuance of Invoice at the time of Purchase of Gold, only records making of an offer by You for purchase of the quantity of Gold stated therein and does not create any right, title or interest in the quantity of the gold stated therein and/or against MMTC-SIKKA. The right, title and interest in the quantity of gold stated in the invoice will only accrue upon acceptance of such offer by MMTC-SIKKA and upon actual receipt of sale consideration by MMTC-SIKKA.
   

7. You understand and acknowledge that MMTC-SIKKA has NOT given any right or authority to either GAP PARTNER or any of its retailers, agents, employees, subcontractors, distributors etc. to make any representation or assurance to You on behalf of MMTC-SIKKA or any other authority to act as an agent of MMTC- SIKKA. MMTC-SIKKA is separate and independent entity from GAP PARTNER and has no relationship of any nature whatsoever with the retailers, agents, employees, subcontractors, distributors etc appointed/engaged by the GAP PARTNER.

45. Restricted Activities:

You agree that you will not:

1. Breach this Agreement or any other agreement or policy that you have agreed to with MMTC-SIKKA;

2. Violate any applicable law, statute, ordinance, or regulation (for example, those governing financial services, consumer protection, unfair competition, anti- discrimination, anti-bribery and anti-corruption, or false or misleading advertising);

3. Act in a manner that is defamatory, trade libelous, threatening, or harassing;

4. Provide false, inaccurate, or misleading information;

5. Refuse to cooperate in an investigation or provide confirmation of your identity or any information you provide to us;

6. Conduct your business or use the MMTC-SIKKA services in a manner that results in, or may result in, complaints, disputes, claims, reversals, chargebacks, fees, penalties, and other liability to Partner, other uses, third parties, or You;

7. Take any action that imposes an unreasonable or disproportionately large load on our infrastructure; facilitate any viruses, Trojan horses, worms, or other computer programming routines that may damage, detrimentally interfere with, surreptitiously intercept, or expropriate any system, data, or information; use an anonymizing proxy; use any robot, spider, other automatic device, or manual process to monitor or copy our Website without our prior written permission; or use any device, software, or routine to bypass our robot exclusion headers, or interfere or attempt to interfere with the Platform or the MMTC-SIKKA services;

46. Waiver:Any failure or delay by MMTC-SIKKA/GAP PARTNER to enforce or exercise any provision of these Terms, or any related right, shall not constitute a waiver by MMTC-SIKKA/GAP PARTNER of that provision or right. The exercise of one or more of MMTC-SIKKA/GAP PARTNER’s rights hereunder shall not be a waiver of, or preclude the exercise of, any rights or remedies available to MMTC-SIKKA/GAP PARTNER 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-SIKKA/GAP PARTNER.
    

47. Force Majeure:If performance under these Terms by MMTC-SIKKA/GAP PARTNER 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 Partner 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 the MMTC-SIKKA/GAP PARTNER and could not have been prevented by reasonable precautions then MMTC-SIKKA/GAP PARTNER 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 whosoever, amount to a breach by the MMTC-SIKKA/GAP PARTNER of its obligations herein.

48. Absence of relationship:You represent and warrant to MMTC-SIKKA that You have sufficient experience and knowledge to make informed decisions to purchase / redeem / sale-back Gold / redeemable products / Transfer of Gold 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- SIKKA, and that MMTC-SIKKA is not making any recommendation with respect to such purchases / redemption /sale-back of Gold / redeemable products / Transfer of Gold. 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-SIKKA. No relationship other than service provider- service recipient 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 Sikka.

49. 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-SIKKA. Therefore, MMTC-SIKKA 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-SIKKA'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-SIKKA reserves the right, at our sole discretion, to refuse or cancel or reject any orders placed for the products. Furthermore, MMTC-SIKKA 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 product / Gold.
    

50. 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-SIKKA 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 federal governments. If You have any questions about taxes, tariffs and duties, you should consult a tax or other professional about your unique circumstances. MMTC-SIKKA does not represent to provide advice or recommendations about your specific taxes, tariffs and duties and any statements made by us are only for the purpose of raising issues for You to discuss with Your tax or other professional.

51. Indemnification:You hereby agrees to indemnify and keep MMTC-SIKKA/GAP PARTNER indemnified from and against all actions, claims, demands, proceedings, losses, damages, personal injury, costs, charges and expenses, directly or indirectly, whatsoever (‘Losses’) which MMTC-SIKKA/GAP PARTNER or its respective 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 of: (i) the usage of the Sikka Platform by You; (ii) by reason of MMTC-SIKKA ‘s acting in good faith and taking or refusing to take or omitting to take action on Your instructions, and in particular arising directly or indirectly out of the negligence, mistake or misconduct of Yours; (iii) breach or noncompliance of the Terms and relating to the Gold account; and / or (iv) fraud or dishonesty relating to any transaction by You. Without prejudice to the foregoing, MMTC-SIKKA/GAP PARTNER shall be under no liability whatsoever to You in respect of any loss or damage arising directly or indirectly out of:

    1. Effecting transaction based on instructions received from You;

2. Your instruction to Transfer Gold from Your Gold account to another Gold account;

3. The exercise by MMTC-SIKKA of its right to terminate / exercise the facility / services provided on the Sikka Platform;

4. Any injury to the credit, character and reputation of Your due to use of facility / services on the Sikka Platform;

5. Any misstatement, misrepresentation, error or omission in any details disclosed by MMTC-SIKKA/GAP PARTNER if receives any process, summons, order, injunction, execution distrait, levy lien, information or notice which MMTC- SIKKA/GAP PARTNER in good faith believes / calls into question Your ability, or the ability of someone purporting to be authorized by You, to make the transfer, MMTC-SIKKA may, at its option and without liability to You or such other person, decline to allow You 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.

6. For any breach of contract / terms / conditions agreed between You and Sikka Platform and / or between Sikka Platform and any third party.
   

52. Disclaimers and limits of liability:

1. You declare that you have read, understood, and accepted all of the terms and conditions outlined in these Terms. You agree that when entering into a GAP product transaction with MMTC-SIKKA, you are relying on Your own judgment and, to the extent permitted by law. You acknowledge and declares that any information regarding the GAP including but not limited to the information displayed on the Sikka Platform, in these Terms, etc., shall not be construed as any advice or recommendation given or views expressed to You, by MMTC-SIKKA.

2. MMTC-SIKKA does not make any representations, recommendations, projections, warranties or guarantees of any kind, either expressed or implied, including but not limited to the performance of its Gold / redeemable products with respect to future prices or any return on investment; all warranties of merchantability and fitness for a particular purpose as well as warranties regarding the accuracy, correctness, or completeness of the information, data, content, materials or the services associated with operation of GAP, or the service, or the safety, reliability, title, timeliness, completeness, title, merchantability, conformity or fitness for a particular purpose of the information, data, content, materials or the services associated with the operation of the service. MMTC-SIKKA and GAP Partner makes no representation, warranty or guarantee that the MMTC-SIKKA Platform or its information, data, content, materials, or services is free of infection from any viruses, worms, trojan horses, trap doors, back doors, time bombs, cancel bots or other code or computer programming routines that contain contaminating or destructive properties or that are intended to damage, detrimentally interfere with, surreptitiously intercept or expropriate any system, application, interface, content, data or financial / personal information.

3. GAP and the related service by MMTC-SIKKA and GAP Partner and pricing and data, and availability are subject at any time and from time to time to human, mechanical, typographic or other errors, oversights, mistakes, limitations, delays, service interruptions, (i) including, without limitation, as may be due in whole or in part to, related to or arising out of MMTC-SIKKA or GAP Partner’s computer hardware and software / platform, telecommunication and operating systems, databases, or business processes and procedures, (ii) as well as other problems inherent in, or which may be associated with, the use of the internet and electronic communications including, without limitation, force majeure events as well as government, regulatory and acts and omissions of third parties affecting or impacting GAP or MMTC-SIKKA and GAP Partner Services, its information and data, or such communications and MMTC-SIKKA shall not be liable for any damages, liabilities, claims, demands, etc. for any loss caused to or suffered by You and MMTC-SIKKA disclaims any liability arising due to the same.

4. The GAP is controlled and offered by MMTC-SIKKA in India. MMTC-SIKKA makes no representations, warranties, or guarantees that the GAP is appropriate or available for use in other jurisdictions. If You accesses or uses the GAP or MMTC- SIKKA’s Service from other jurisdictions, then You do so by Your own volition and You are solely responsible for compliance with local law.
   

5. MMTC-SIKKA reserves the right at any time and without notice, in MMTC- SIKKA’s sole and absolute discretion, to have the GAP hosted by or through one or more other entities and / or in one or more other jurisdictions, provided there shall be no material deterioration in the level of performance of GAP. Subject to the foregoing, the terms and conditions upon which MMTC-SIKKA may offer a hosted service, shall be in MMTC-SIKKA’s sole and absolute discretion, save and except expressly agreed herein.

6. MMTC-SIKKA and GAP Partner shall not be liable for Your failure to follow MMTC-SIKKA or GAP Partner’s reasonable instructions in connection with the GAP and transactions or for the Your incorrect use or misuse of GAP. Notwithstanding anything in these Terms to the contrary, MMTC-SIKKA does not and shall not have or bear any responsibility or liability to You with respect to transaction or transaction quotations, orders, acceptances, confirmations, statements of account, or payments.

7. MMTC-SIKKA will not be liable for any Loss or damage caused by reliance on information obtained in any of our newsletters, literature, reports, e-mail correspondence, website, or any other communication from MMTC-SIKKA. MMTC-SIKKA will not be liable to You (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.

8. MMTC-SIKKA and GAP Partner explicitly urges to You /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-SIKKA and GAP Partner will not be liable for any loss or damage caused if You accept the parcel in spite of it being damaged or tampered. The duty to verify the parcel for any damages or tampering is Yours and if You accept the parcel and later comes to know of any damage or tampering, MMTC-SIKKA and GAP Partner shall not be liable for any loss or damage to You. 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 You.

9. You understands and acknowledges that MMTC-SIKKA, or any of its respective directors, employees, agents, shall not be liable for any damages, liabilities, claims, demands, etc. by You(s) or any loss caused to or suffered by You, for any reason whatsoever. causes of action under these Terms and the facility / services provided by MMTC-SIKKA save and except Loss caused to You due to quality or merchantability of product or redeemed product sold by MMTC-SIKKA. In any case, the liability shall not collectively exceed total amount paid by You, if any, for the particular transaction in question. The foregoing limitation of liability shall apply to the fullest extent permitted by law in the applicable jurisdiction.

10. No claim of whatsoever nature arising out of or relating to the use of the Sikka Platform and/or any action/omission by GAP Partner, or any of its Retailers, agents, employees, subcontractors, distributors etc. shall lie against MMTC- SIKKA.
    

53. You acknowledge that MMTC-SIKKA/GAP PARTNER 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, even if MMTC-SIKKA/GAP PARTNER has been advised of the possibility of or could have foreseen any of the excluded damages, and irrespective of any failure of an essential purpose of a limited remedy.

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.

54. You declare that you are not an unregistered dealer of Gold and silver or any other precious metal ornament or any related product.

55. If found of any misrepresentation then You will be solely responsible for all applicable taxes, interest, and penalty due to the government at any given point of time.