This document is an electronic record in terms of Information Technology Act, 2000 ("IT Act, 2000") and rules thereunder as applicable and the amended provisions pertaining to electronic records in various statutes as amended by the Information Technology Act, 2000. This electronic record is generated by a
This Agreement contains the complete terms and conditions that apply to an entity's or / firm's or/ individual's participation in the CurrencyKart Seller Program (the "Program"). As used in this Agreement, "we", "us", or "our" means www.CurrencyKart.com the domain which is owned by Argentum Technologies Private Limited or any of our affiliate; parent; or group companies and our successors and assigns, as the case may be, and "you" means the applicant which could be a Public / Private Limited Company registered under the applicable laws of Land or a company approved to be a the banking regulatory authority of the country. CurrencyKart Site means, collectively, the www.CurrencyKart.com website. "Your site" means your website where you will link to the CurrencyKart Site (and which you will identify in your Program application). Save for our obligation to deal in foreign currency, under relevant section, which may be performed solely by us, we may cause any of our obligations under this Agreement to be fulfilled by any of our Affiliates (defined below), on our behalf.
Argentum Technologies Pvt Ltd is a company incorporated under the Companies Act, 2013, with its registered office at 219, Ground Floor, Dariba Kalan, Delhi - 110006, and through its articles of association and objectives defined in the memorandum is authorised to conduct, buy, sell, foreign currency and exchange through online portal or otherwise.
Argentum Technologies Pvt Ltd is constituted as a full fledged money changer and authorised Seller category II company as approved by the Reserve Bank of India ("RBI") to act as an authorised money exchange business operator in India.
Argentum Technologies Pvt Ltd owns the domain name and has developed an online SAAS platform www.CurrencyKart.com (herein after referred to as 'CurrencyKart') which is an online aggregator of foreign exchange Sellers and a facilitator of foreign exchange currency transactions between the retails consumers and the authorised money exchange business concerns which are registered on its website.
The transactions which are booked through the SAAS platform of CurrencyKart would be fulfilled either directly by the registered Seller or via the fulfilment option of www.CurrencyKart.com on obtaining the relevant KYC required as per applicable Government , RBI and Fema regulations in addition to any other law applicable to the Seller at the point in time of the transaction.
1. Scope of Services
This agreement will cover all services provided by www.CurrencyKart.com , Argentum Technologies Pvt Ltd or any other affiliate company as defined above.
2. Enrollment in the Program and Seller's Eligibility
The Seller , seller on CurrencyKart platform is required to be an approved licenced FFMC or an authorised FFMC/AD-II holder at all times while transaction on this website. The seller / Seller needs to be an authorised entity covered under Section 10 of the Foreign Exchange Management Act or should be an authorised and a valid franchisee license holder of an existing registered and licenced multi branch FFMC. The Seller / seller as defined herewith in clause 2.1 through its authorised representative and signatory has accepted the terms and conditions of this agreement upon agreeing to proceed for registration (together referred to as 'You and Your' or 'Seller' or 'Seller').
To begin the enrollment process, you will submit a complete Program Application via the CurrencyKart Site including submission of the applicable documents and licences required for RBI approval to operate as an FFMC. We will evaluate your application in good faith and will notify you of its acceptance or rejection. We may reject your application and enrolment at any point in time if we determine (in our sole discretion) that you and your organisations / site is unsuitable for the Program. Unsuitable sites include, but are not limited to, those that (Use of the Website):
You shall not host, display, upload, modify, publish, transmit, update or share any information which is unethical and illegal as per the laws of the land
You shall not use any 'deep-link', 'page-scrape', 'robot', 'spider', automatic device, program, algorithm, methodology, or any similar or equivalent manual process to access, acquire, copy, monitor any portion of the Website or content, in any way reproduce, or circumvent the navigational structure, presentation of the Website, or any content to obtain or attempt to obtain any material, documents, or information through any means not purposely made available through the Website. We reserve our right to bar any such activities.
You shall not attempt to gain unauthorized access to any portion or feature of the Website, other systems, networks connected to the Website, server, computer, network, or the services offered on or through the Website by hacking, password 'mining', or any other illegitimate means.
You shall not probe, scan or test the vulnerability of the Website or any network connected to the Website or breach the security, authentication measures on the Website or any network connected to the Website. You may not reverse look-up, trace or seek to trace information on any other user of or visitor to Website (including any account on the Website that is not owned by you) or to its source or exploit the Website, any service, information made available, or offered by or through the Website in any way where the purpose is to reveal any information (including but not limited to personal identification or information other than your own information) provided by the Website.
You shall not make any negative, denigrating, or defamatory statement(s)/comment(s) about us, the brand name, or domain name used by us, including other terms which would get associated with CurrencyKart or otherwise engage in any conduct or action that might tarnish the image or reputation of CurrencyKart or sellers on the platform or otherwise tarnish or dilute any CurrencyKart trade mark, service marks, trade name and/or goodwill associated with such trade, service marks or trade name as may be owned or used by us. You agree that you will not take any action that imposes an unreasonable or disproportionately large load on the infrastructure of the Website or CurrencyKart's systems, networks, or any systems or networks connected to CurrencyKart.
You agree not to use any device, software or routine to interfere or attempt to interfere with the proper working of the Website, any transaction being conducted on the Website or any other person's use of the Website.
You may not forge headers or otherwise manipulate identifiers in order to disguise the origin of any message, transmittal you send to us on or through the Website, or any service offered on or through the Website. You may not pretend that you are or represent someone else or impersonate any other individual or entity.
You may not use the Website or any content for any purpose that is unlawful or prohibited by the T&Cs or to solicit the performance of any illegal activity or other activity which infringes the rights of CurrencyKart and/or others.
You shall at all times ensure full compliance with the applicable provisions of the Information Technology Act, 2000, and the rules thereunder as applicable and amended from time to time and also all applicable domestic laws, rules and regulations (including the provisions of any applicable Exchange Control Laws or Regulations in force) and International Laws, Foreign Exchange Laws, Statutes, Ordinances and Regulations(including, but not limited to Sales Tax/ VAT, Income Tax, Octroi, Service Tax, Central Excise, Custom Duty, Local Levies) regarding your use of our service and your listing, purchase, solicitation of offers to purchase, and sale of items or services. You shall not engage in any transaction in an item or service, which is prohibited by the provisions of any applicable law including exchange control laws or regulations for the time being in force. In particular you shall ensure that if any of your items listed on the Website qualifies as an "Antiquity" or "Art treasure" as defined in the Act ("Artwork"), you shall indicate that such Artwork is "non-exportable" and sold subject to the provisions of the Antiquities and Art Treasures Act, 1972, and shall ensure that it is not delivered to any buyer at any place outside India.
From time to time you shall be responsible for providing information relating to the items or services proposed to be sold by you. In this connection, you undertake that all such information shall be accurate in all respects. You shall not exaggerate or over emphasize the attributes of such items or services so as to mislead other users on the website in any manner.
You shall not engage in advertising or solicitation of other sellers on the Website to buy or sell any products or services, including but not limited to products or services related to what is displayed on the Website or us. You may not transmit any chain letters or unsolicited commercial or junk email to other users via the Website. It shall be a violation of the T&Cs to use any information obtained from the Website in order to harass, abuse, or harm others or contact, advertise and sell to or solicit persons other than those who have chosen to buy from you. In order to protect our users from such advertising or solicitation, we reserve the right to restrict the number of messages or emails which a seller may send to other users in any 24-hour period, which we deem appropriate at our sole discretion. You understand that we have the right at all times to disclose any information (including the identity of the persons who have provided information or material on the Website) as necessary to satisfy any law, regulation, or valid governmental request. This may include, without limitation, disclosure of the information in connection with the investigation of an alleged illegal activity or its solicitation, response to a lawful court order or subpoena. In addition, we can (and you hereby expressly authorized us to) disclose any information about you to law enforcement or other government officials as we, at our sole discretion, believe necessary or appropriate in connection with the investigation and/or resolution of possible crimes, especially those that may involve personal injury. We reserve the right, but have no obligation, to monitor the material posted on the Website. CurrencyKart shall have the right, at its sole discretion, to remove or edit any content that violates or is alleged to violate any applicable law or either the spirit or letter of the T&Cs. Notwithstanding this right, YOU REMAIN SOLELY RESPONSIBLE FOR THE CONTENT OF THE MATERIAL YOU POST ON THE WEBSITE AND IN YOUR PRIVATE MESSAGES. Please be advised that such content posted does not necessarily reflect CurrencyKart's views. In no event shall CurrencyKart assume or have any responsibility or liability for any content posted on the Website or claims, damages, or losses resulting from its use and/or appearance of it on the Website. You hereby represent and warrant that you have necessary rights to all the content you provide and all information it contains and that such content shall not infringe any proprietary or other rights of third parties or contain any libelous, tortious, or otherwise unlawful information.
Your correspondence or business dealings with or participation in the promotion of advertisers on or through the Website (including payment and delivery of related products or services, any other terms, conditions, warranties, or representations associated with such dealings) are solely between you and such advertisers. We shall not be responsible or liable for any loss or damage of any sort incurred as a result of such dealings or the presence of such advertisers on the Website.
It is possible that other users (including unauthorized persons or 'hackers') may post or transmit offensive or obscene material on the Website and that you may be involuntarily exposed to such material. It is also possible for others to obtain personal information about you due to your use of the Website and use such information to harass or injure you. We do not approve of such unauthorized uses but by using the Website, you acknowledge and agree that we are not responsible for the use of any personal information that you publicly disclose or share with others on the Website. Please carefully select the type of information that you publicly disclose or share with others on the Website.
CurrencyKart shall have all the rights to take necessary action and claim damages that may occur due to your involvement/participation in any way on your own or through group(s) of people, intentionally or unintentionally, in DoS (denial of service) / DDoS (Distributed Denial of Services).
Advertise affiliate links through pop-up windows / pop-unders
Advertise affiliate links as a cashback offer
Advertise misleading/wrong offers/deals running on CurrencyKart
Use affiliate links, whether directly or indirectly, on web sites offering any kind of referral program with/without payment of fees and/or sites in the nature of multi-level marketing arrangements
Use affiliate links in HTML emailers, newsletters or any other form of bulk emails
Use affiliate links on illegal audio/video download sites
Promote affiliate link via use of paid ads on search engine result pages and social media websites by bidding on trademark of CurrencyKart.com or any variation or misspelling of any trademark of CurrencyKart.com
Promote pornography and sexually explicit materials
Promote discrimination based on race, sex, religion, nationality, disability, sexual orientation, or age
Promote illegal activities
Include any trademark of CurrencyKart.com, or its affiliates, or any variation or misspelling of any trademark of CurrencyKart.com, or its affiliates, in any domain name -- for example, a domain name such as "CurrencyKart.mydomain.com", "CurrencyKartauctions.net", "facebook.com/CurrencyKartdealsgroup," would be unsuitable
Include any trademark of CurrencyKart.com, or its affiliates in any username, group name, or other identifier on any social networking website
Include any colour combination or layout similar or identical to CurrencyKart.com, with the intention to deceive
Use links or URLs which are not published by the CurrencyKart Site or by CurrencyKart Affiliate Program.
Add products directly to the customer's cart using scripts or any tools.
Otherwise violate intellectual property rights.
3. Your Account and Registration Obligations
If you use the Website, you shall be responsible for maintaining confidentiality of your display name and password and all activities that occur with the use of your display name and password. You agree that if you provide any information which is untrue, inaccurate, not current, or incomplete or we have reasonable grounds to suspect that such information is untrue, inaccurate, not current, incomplete, or not in accordance with the T&Cs, we shall have the right to indefinitely suspend, terminate or block you from accessing the Website.
Commission on each currency transaction closed on the portal and CurrencyKart's platform
Subscription plan value for buying leads of relevant class
Commission for leads generated for the Seller on transactions where details are forwarded by Currencykart to you
Collection of delivery charges and transaction charge for delivery of transactions generated by you directly but fulfilled by CurrencyKart via online platform or otherwise.
It may be noted that the underlying subscription plans, commission rates, delivery and transaction charges would be updated via the rate card from time to time and intimated to all Sellers and sellers.
5. Security deposit
A security deposit of an amount as intimated from time to time shall be maintained with CurrencyKart. This shall be paid on the date of registration and shall be dispatched via cheque in favour of Argentum Technologies Pvt Ltd. The security deposit amount shall be separately included in the rate card on the Seller panel.
The security deposit shall be utilised by CurrencyKart on account of any default by you / the Seller to honur its bid as put on CurrencyKart resulting in a decline of the transaction. In case a confirmed bid is not honoured by you / the Seller, a charge of Rs 250/- would be levied towards logistics support as well as pricing differential to close the transaction from another Seller.
The security deposit shall also be utilised towards payment of leads commission, delivery and transaction charges if you do not clear the requisite payment within the defined timelines as mentioned under the 'Payments' sub clause.
The security deposit shall be refunded to you after deduction of applicable charges if any pending on at the termination of this agreement as per the clauses mentioned herewith. The balance security deposit shall be refunded within a period of 60 days from the date of termination.
With respect to the transactions which are generated by the retail customers, where your bid was selected for transaction, then invoice for bulk purchase would be generated by us to buy the underlying currency from you. The invoice for each transaction would be send to you immediately on closure of the transaction. The transaction between you and CurrencyKart for buying and selling of currency would be considered to be a principle to principle transaction.
You agree to keep appropriate records of the same in physical as well as on the Seller panel provided by us to you for completing such transactions.
You agree and allow us to use your bid for each individual transaction on the CurrencyKart platform and also agree that the eventual end retail consumer or enterprise consumer would be sent an invoice for retail currency transaction by CurrencyKart initiated by Argentum Technologies Pvt Ltd. .
With respect to verified leads subscription, the subscription shall be payable in advance to initiate the leads plan on a quarterly, half yearly and annual basis. The subscription plan shall be recharged in advance on each due date to continue to avail services.
With respect to verified leads generated by us and send to you, CurrencyKart shall raise an invoice to you in respect of each of the commission payable and due every week (7 days cycle) and the same shall be paid within a period of 5 days from the date of the invoice.
The leads generated and transferred to you would be reconciled based on the leads which are reflected on your Seller panel provided by CurrencyKart. Any disputes relating the differences on leads transferred shall be subject to CurrencyKart's nodal officer's decision. Any dispute shall be resolved within a period of 60 days.
With respect to 'Delivery charges' and ' Transaction charges' on your own generated transactions, CurrencyKart shall raise an invoice to you in respect of each of the commission payable and due every week (7 days cycle) and the same shall be paid within a period of 5 days from the date of the invoice.
With respect to cancellation of a transaction by you by not honouring the forex bid which you displayed on CurrencyKart, a cancellation charge of Rs 250/- would be levied towards logistics support as well as pricing differential to close the transaction from another Seller. CurrencyKart shall raise an invoice to you in respect of such cancellation charge due every week (7 days cycle) and the same shall be paid within a period of 5 days from the date of the invoice.
7. Payment of consideration due to you and due from you
Payment with respect to a successful closure of the currency exchange transaction through CurrencyKart portal based on the competitive rate quoted by you would be settled on each invoice to invoice basis. The payments due would be released via an online NEFT bank transfer on T+2 day basis from the transaction closure date and intimated to you via the Seller panel.
For this purpose, transaction closure would involve successful pick up, dispatch and delivery of foreign currency to the end retail or enterprise customer.
Payments due from you / Sellers against commission for subscription plans, lead generation commission, delivery and transaction charges for use of CurrencyKart fulfilment services, shall be cleared within 5 days from the receipt of invoice in the Seller panel or otherwise.
Remittances to a seller for CoD transactions shall be made through cheque/ demand draft or online bank transfer to the seller's bank account in accordance with above said transaction timelines prescribed in clause (e) hereinabove.
Other rules and regulations on the payment process would be released from time to time as Seller policy.
8. Obligations of CurrencyKart
Maintain the records of personal details of you / Seller to enable successful closure of the transaction. You may note that its your responsibility / Seller responsibility to keep the Seller panel and profile details updated at all times
Provide you with Seller panel support and module training. CurrencyKart shall impart appropriate training to Fx Sellers in usage of the Seller module, Seller panel as well as the Seller mobile application
Unbiased display of results in the ascending order for the area which is covered by you as well as the regional classification in which you fall. Closure of the transaction and selection of the bid is solely the choice and decision of the end consumer transacting on the portal. The final rate that shall be displayed on the portal would be the bid which has been finalised and submitted by you through the Seller panel plus CurrencyKart's commission which is fixed for each currency based on the rate card
CurrencyKart shall assist the customer in completing the transaction on the portal which may be accompanied by follow ups including phone calls, emails, SMS, push notifications on the application.
CurrencyKart shall try and provide you access to a wide range of end consumers who would transaction for several purposes on our website
CurrencyKart shall provide leads for forex and currency exchange transactions to Sellers and Sellers within a defined distance range from the adviced location of prospective buyer. The leads would be generated and sent to Sellers through an automated panel and CurrencyKart shall have not bias in selection of the leads. Same rights would be applicable to Sellers registered on each subscription plan however rights for leads would differ for different subscription plan. Details would be updated from time to time in the rate card on the Seller panel
CurrencyKart reserves the right of introducing Seller / seller tiers as Preferred, Trusted, Qualified, Verified etc and that you agree that such categorisation would not be disputed by you at any point in time. The details and criteria for such classification can be changed from time to time without prior intimation at the option of CurrencyKart
8CurrencyKart guarantees payment for any transaction which is closed on the CurrencyKart portal to the Seller
CurrencyKart shall ensure proper KYC documentation to be maintained for each individual transaction which is closed on the portal or otherwise as per the applicable RBI, FEMA and other defined regulations
CurrencyKart shall ensure maintenance of proper records and documentation as required by the RBI and also ensure successful completion of the FFMC guidelines and requirements from time to time as applicable
CurrencyKart shall protect your personal information such as bank account details, debit card, credit card information, and net banking transactions
CurrencyKart shall ensure a safe and legal transaction platform
9. Obligations of the Seller / Your obligations
You shall update the latest available currency rates for buying and selling bids and quantities at all times
You shall update the bids and quantities for available currencies every days before the cut off time (6.00 pm) to ensure that your bid remains valid and is displayed on the transaction portal. Failure to do so, shall result in elimination from the Seller listing available for overnight transactions which may happen on the portal before the opening of the next working day.
You shall honur the transaction which gets freezed and locked post your working hours based on your final bid on the Seller panel and that you shall honur the price and quantity of the transaction when it is picked up the next working day by CurrencyKart's fulfilment team.
You shall participate in the bidding process if initiated by the consumer. On each bidding initiation the Seller app and panel shall receive a push notification suggesting you to change if you are not the lowest bidder. If the rates are not changed on such notification, we shall consider the existing rates to be the final rates for the purpose of bid listing.
A continuous default in honouring the transaction will result in delisting from the CurrencyKart portal and registration and that the security deposit shall be forfeited for continuous offenders (more than 3 times).
You shall display the signboard of CurrencyKart and its registered Seller certification at your place of business, office, retail counter, branch, franchisee etc at all times.
You and Sellers shall deal on original currency at all times. Any instance of fake notes and currency or money laundering shall be intimated to concerned authorities as well as the registration and the contract shall be terminated with immediate effect.
You agree that you would adhere to the process which are laid under the Seller policy which would be released from time to time.
10. Your / Seller's dispatch obligations
On intimation of the transaction closure, you shall prepare the desired currency in the stationary provided by CurrencyKart or otherwise and hand over the underlying currency to the CurrencyKart fulfilment team. You shall also prepare and send us your e - invoice for each transaction as soon as the dispatch is made to the fulfilment team as well as handover the shipping docket to delivery boy.
You shall use the stationary and packing material provided by CurrencyKart only for transactions which are booked through the portal / website and confirmed by you.
A seller shall dispatch the products and/or services using only an approved delivery channel which provides appropriate 'proof of dispatch' & 'proof of delivery' (PoDs) documentation. Such PoD documentation relating to delivery should be maintained by a seller for a period of twelve (12) months from the date of dispatch. The PoDs should be furnished to CurrencyKart on demand within the time frame as notified from time to time.
You, as a seller, shall be required to dispatch the products and/or services for every transaction to the buyer within the time period as provided in the policies to ensure that the products and/or services are delivered in a timely manner. Further, seller will solely be responsible for undertaking transit insurance for products sold on the Website. For avoidance of doubt, CurrencyKart will not be responsible for undertaking any insurance(s) for products sold by sellers on the Website.
In case a seller fails to provide dispatch details or provides dispatch details not complying with policies, it shall result in consequences as more specifically stated in the policies and which may lead to suspension and/or termination of seller account.
Currency sold and dispatched by the Seller / Seller / you. If found to be counterfeited, the same currency shall be deposited to the banking regulator and the amount equivalent to the INR value of the transaction shall be debited to your account on a direct debit basis along with a service charge of Rs 250/-.
You are responsible for paying all fees associated with the use of the Website and you agree to bear any and all applicable taxes, charges, cesses etc. levied thereon.
13. Compliance with Laws
Buyer and Seller shall comply with all the applicable laws (including without limitation Foreign Exchange Management Act, 1999 and the rules made and notifications issued there under and the Exchange Control Manual as may be issued by Reserve Bank of India from time to time, Customs Act, Information and Technology Act, 2000 as amended by the Information Technology (Amendment ) Act 2008, Prevention of Money Laundering Act, 2002 and the rules made there under, Foreign Contribution Regulation Act, 1976 and the rules made there under, Income Tax Act, 1961 and the rules made there under, Export Import Policy of government of India) applicable to them respectively for using Payment Facility and CurrencyKart Website.
All online bank transfers from valid bank accounts are processed using the gateway provided by the respective issuing bank that supports payment facility to provide these services to the users. All such online bank transfers on payment facility are also governed by the terms and conditions agreed to between a seller buyer and the respective issuing bank.
14. Term and Termination of the agreement
The agreement is entered into for an indefinite period of time. This agreement may be terminated by CurrencyKart with or without cause by giving a thirty day notice in writing as an email on the registered email ID of the Seller as well as by displaying a notice of caution on the backend Seller panel. Provided that, in the event of termination for cause, the breaching party shall have a right to cure the breach within the notice period if the breach is capable of a remedy.
CurrencyKart reserves the right to terminate the agreement and registration at anytime with immediate effect if any documents and licence submitted by you / Seller is counterfeited, fake, invalid, expired or otherwise not proper.
CurrencyKart can terminate the agreement with immediate effect if it comes to our knowledge that the entity, or individual or an affiliate of you is not allowed as per the RBI and FEMA guidelines to act as a FFMC or a registered valid franchisee of an FFMC Seller. This is not limited to and would be extended to cover any illegality to operate the underlying business as well as non-compliance with the applicable regulations for a consistent period of 30 days.
Either party can terminate the agreement by sending a legal termination notice in writing by registered post with immediate effect if either party determines that (a) a governmental, regulatory, or professional entity or an entity having the force of law has introduced a new, or modified an existing law or rule, or regulation, the result of which would render either party's performance under any part of this agreement as illegal or otherwise unlawful or in conflict with the independence with the applicable guidelines for operating such business; or
Upon termination, any outstanding balance due from you shall be paid immediately via a direct money transfer or issuance of a valid cheque. Any balances due to you shall be paid to you as per the regular payment cycle after adjustment of any amounts recoverable from you till the date of the operations or termination of the contract whichever is later.
Upon termination of the agreement, CurrencyKart would be under no liability to return the information if any received from you, including any information which may be classified as confidential under any law.
15. Limited licence
CurrencyKart grants seller a limited, non-transferable, non-exclusive, non-sub licensable, nonassignable and personal license to use "Powered by CurrencyKart" and/or "CurrencyKart.com" name and/or logo on seller's invoice for transactions concluded on the Website. Further, CurrencyKart grants seller a limited, non-transferable, non-exclusive, non-sublicensable, non-assignable and personal license to use "CurrencyKart.com" name and/or logo on packing material used by Seller for delivery of currency sold on the portal / website.
We mutually also acknowledge that employees of CurrencyKart and Seller / yours, in the course of performing their obligations and responsibilities under this agreement be exposed to or acquire information that is proprietary or confidential to CurrencyKart and / or / you. You acknowledge that any information that is received by CurrencyKart, or its employees which is non public shall be deemed to be confidential and proprietory and that you agree that such information would be held in confidence and shall not be disclosed to others for any purpose whatsoever (except where required by law, the information was already available in public domain and was known to the recipient prior to disclosing the information.)
17. Trademark, Copyright and Restriction
The Website is controlled and operated by CurrencyKart and products are sold by respective registered sellers. All material on the Website, including images, illustrations, audio clips, and video clips, are protected by copyrights, trademarks and other intellectual property rights. You must not copy, reproduce, republish, upload, post, transmit, or distribute other sellers' material in any way, including by email or other electronic means and whether, directly or indirectly, you must not assist any other person to do so. Without the prior written consent of the owner, modification or use of the material on any other website/networked computer environment or for any purpose other than personal, non-commercial use is a violation of the copyrights, trademarks, and other proprietary rights is prohibited. Any use for which you receive any remuneration, whether money or otherwise, is a commercial use for the purposes of this clause.
CurrencyKart reserves the right and you shall agree that, CurrencyKart shall use your logos on its portals or its associate and affiliate portals and on marketing materials from time to time without any prior intimation or approval. The purpose of such display would be related to marketing, advertising as well as indication of association with you.
You shall agree that CurrencyKart may promote its brand name and service offerings via: email campaigns, sms marketing, carry our store branding as well as other marketing initiatives which would be informed to you from time to time. By Agreeing to this document you authorise us to include your brand name and business name in such marketing materials.
This clause shall survive termination of this agreement for whatever reasons.
19. Limitation of Liability
IN NO EVENT SHALL CURRENCYKART BE LIABLE FOR ANY SPECIAL, INCIDENTAL, INDIRECT, OR CONSEQUENTIAL DAMAGES OF ANY KIND IN CONNECTION WITH THE T&Cs, EVEN IF CURRENCYKART HAS BEEN INFORMED IN ADVANCE OF THE POSSIBILITY OF SUCH DAMAGES.
20. Non solicitation
During the term of this agreement and for a period of six (6) months after the termination of this agreement, CurrencyKart shall not directly or indirectly contact any person, firm, body corporate to contact, solicit any of your Seller or direct employees, nor agree to hire any employees of the Seller in the company or any of the affiliates.
During the term of this agreement and for a period of six (6) months after the termination of this agreement, you / Seller / Seller shall not directly or indirectly contact any person, firm, body corporate to contact, solicit any of CurrencyKart Sellers or direct or indirect employees, nor agree to hire any employees of CurrencyKart under your employement or in any of the entity related to you or any of the affiliates.
21. Breach of Agreement
Without limiting other remedies, we may limit your activity, immediately remove your information, warn other users of your actions, immediately temporarily/ indefinitely suspend/ terminate/ block your account and/or refuse you access to the Website in the event of, including but not limited to, the following:
if we are unable to verify or authenticate any information you provide; or
if it is believed that your actions may cause legal liability for you, other users, or us.
Notwithstanding the right to terminate, in the event of material breach by CurrencyKart or its sellers and representatives, which shall result in monetary loss, reputational loss, you shall have a right the claim penalty of lower of INR 20,000 or the 0.2% of the total value of the transaction conducted on CurrencyKart portal. This is applicable vice versa as well.
23. No Actions, Suits and Proceedings
The Seller / You confirm that there are no pending suit, action, litigation, investigation, complaint, controversy, whether civil or criminal, before any court of law, arbitrator, mediator, governmental authority to the best of your knowledge.
24. Applicable Law
The T&C's shall be governed, interpreted, and construed in accordance with the laws of India. The place of jurisdiction shall exclusively be Delhi.
Unless otherwise specified, the material on the Website is presented solely for the purpose of sale in India. CurrencyKart makes no representation that the material on the Website is appropriate or available for use in other locations/countries other than India. Those who choose to access the Website from other locations/countries other than India do so on their own initiative and CurrencyKart is not responsible for supply of products/refund for the products ordered from other locations/countries other than India and compliance with local laws, if and to the extent local laws are applicable.
25. Other Clauses
CurrencyKart reserve the right to provide similar services for other online applications or use the information for any analytical or similar purposes.
Both Parties undertake its obligations with reasonable skill and care.
CurrencyKart does not guarantee or warrant that its Online Application, website, software, hardware or services will be free from defects or malfunctions. If errors occur, it will use its best endeavors to resolve it as quickly as possible.
27. The Seller / you understand and agrees that CurrencyKart may without notice make changes to or temporarily suspend the operation of the Online Portal / Application should it deem necessary
28. CurrencyKart will inform the Seller / you all issues regarding customer feedback and other challenges and or timeliness issues. Any adjustments/refunds to the customer or extra delivery expenses incurred by CurrencyKart, will be deducted from the monies payable to you after mutually deciding the extent of these expenses. However, CurrencyKart will be responsible for any adjustments to the customers due to late delivery or incorrect delivery of currency and other related products.
No Conflicts: Each Party represents to the other that it has the authority to enter into this Agreement and signatories are authorized by the management to sign and execute the same
Entire Agreement and Modification: This Agreement constitutes the complete and exclusive understanding between the Parties and it may be amended at the option of CurrencyKart and that the same shall be intimated to the Seller / you through emails, updates and Seller panels.
Waiver: If one Party fails to enforce any provision of this Agreement, it shall not be precluded from enforcing the same provision at another time.
Notices: All notices, requests and demands, and other communications required or permitted under this Agreement shall be in writing and either delivered personally or sent to the official address of the Party through recognized courier service or registered post. Either Party may change its address by delivering notice of such change of address to the other Party. CurrencyKart at its option may also display the notice on the Seller panel or send it via email.
Severability: In the event that any provision of this Agreement is held by a court or other tribunal to be unenforceable, such provision shall be deemed modified to the minimum extent as necessary to render the provision enforceable to most closely represents the original intent of the Parties. The remaining terms and conditions will remain in full force and effect and enforceable.
Force Majeure: Neither Party shall be responsible for delays or failures in performance resulting from acts beyond its control. Such acts include but are not be limited to Acts of God, labor conflicts, acts of war or civil disruption, governmental regulations imposed after the fact, public utility out failures, industry wide shortages of labor or material, or natural disasters.
Non assignment: You shall not assign any right or obligation under this agreement without prior notice and written consent of CurrencyKart. Such consent not to be unreasonably withheld.
30. Arbitration: If any dispute, difference, claim or controversy (the "Dispute") arises between the parties about the validity, interpretation, implementation or alleged breach of any provision of this Agreement, then the parties shall negotiate in good faith to endeavour to resolve the matter. However, if the Dispute has not been resolved by the Parties within thirty (30) days after the date of receipt of notice of the Dispute by either party from the party raising the Dispute, then Dispute shall be referred to a sole arbitrator mutually acceptable to both the parties. The arbitration shall be governed by the Arbitration and Conciliation Act, 1996 as updated. If the parties are unable to mutually agree upon and appoint a sole arbitrator then the arbitration shall be referred to a panel of three arbitrators appointed in the following manner; one arbitrator shall be appointed by each Party and the third arbitrator shall be appointed by the aforesaid two arbitrators. The venue of arbitration shall be at New Delhi. The award of arbitrator shall be final and binding on the parties.
By submitting the form and pressing the 'I Agree' tab, the company/ firm, via the user agrees to the terms and conditions mentioned in this document.