Welcome to TachyLoans, an end to end digital platform with proprietary credit scoring model and engaged in the business of facilitating need-based loans including but not limited to Loans for Payment of School Fee, Loans for Online training, Loans for Professional Certification courses, Loans to Corporate Employees through tie-up with the Employers etc,. Loans through TachyLoans platform will be disbursed by partner lending institutions (“Lenders”) to eligible loan applicants (“Borrowers”) all over India (“Users”), carrying our risk assessment of the prospective borrowers and other ancillary support services (“Services”) through website, ‘www.tachyloans.com’ (“Website”) and mobile application, ‘TachyLoans’ (“App”), developed, owned and operated by ‘FinMomenta Private Limited’ (“the Company”).
The Users agree to be bound by these Terms, regardless if they use the Services with or without being registered with TachyLoans. By accepting these terms, the User acknowledges that he/she has also read and understood the risk involved in lending and/or borrowing through TachyLoans. The Company reserves the right to modify these Terms from time to time without prior notice, and each such modification shall be effective upon posting on the Website. Continued use of the Services following any such modification constitutes the User’s acceptance to be bound by these Terms as so modified. Notwithstanding anything to the contrary in these Terms, the Company reserves the right to accept or reject a User from registering on the Website or App, without assigning any reason thereof.
This document is an electronic contract formed and governed under the Information Technology Act, 2000 and rules made thereunder as applicable and the amended provisions pertaining to electronic documents/records in various statutes as amended by the Information Technology Act, 2000. This electronic record is generated by a computer system and does not require any physical, electronic or digital signatures.
Services by TachyLoans
(1) TachyLoans provides an array of services including without limitation (a) facilitation of loans by providing an online platform for various Lenders and Borrowers across India; (b) digital lending with artificial intelligence and machine learning technology; (c) unique online credit scoring system of the Borrowers; (d) ) assisting and providing the draft loan agreement for the Lenders and Borrowers to execute; (e facilitation of the loan disbursement and the repayment process; and (f) such other services to facilitate the loan transactions between the Lenders and the Borrowers, if any.
(2) TachyLoans is only a platform that brings together Borrowers and Lenders to facilitate the process of lending and borrowing. The Company in no manner engages either in borrowing or lending in its own capacity and does not have any sort of license from the Reserve Bank of India to carry out the business of lending in India.
(3) The Company reserves the right to modify or discontinue the Services (or any part of the Services) or any feature or functionality thereof at any time without notice to the Users. All rights, title and interest in and to the Services and its components (including all intellectual property rights) will remain with and belong exclusively to the Company.
Eligibility of the users
The Users are eligible to use the Services by registering with TachyLoans, if and only, they comply with the following conditions:
For the registration as a Borrower (“Borrower”):
Terms of registration
As a condition to register with TachyLoans as a Lender or Borrower to use the Services, the User agrees that:
The use of Services and registration with TachyLoans is not permitted where it is prohibited by law. By using the Services, the User represents and warrants the following:
The Company grants the User a non-exclusive, revocable, non-transferrable and limited license to access and use the Services on his/her/its personal device as made available through the Website/App. The Company may, from time to time, update or modify the App and Website, release new versions or create new modules related thereto, each of which may, at the Company’s discretion, be included within the license granted above. The User shall not be permitted to sublicense or transfer any of his/her/its rights hereunder including without limitation, access to TachyLoans through the respective login credentials authenticated for a particular User.
Use of TachyLoans
The Users hereby agree that they shall not violate or attempt to violate the security of TachyLoans, including, without limitation the following activities:
The User also represents and warrants that he/she shall not:
Review by the company
The User may be given access to certain non-public information, software, source code and specifications of the App (“Company’s Confidential Information”), which is confidential and proprietary to the Company. The User may use Company’s Confidential Information only as necessary in exercising rights granted to them in this Agreement.
The User agrees that he/she will not disclose Company’s Confidential Information without Company’s prior written consent.
The User agrees that he/she will protect Company’s Confidential Information from unauthorized use, access, or disclosure in the same manner that the User would protect the User’s own confidential and proprietary information of a similar nature and in any event with no less than a reasonable degree of care. Company’s Confidential Information does not include information that:
The User also agrees to protect all the personal, financial and other information of the other Users which are confidential and proprietary to the particular User in the same manner as it is protected as his/her/its own confidential and proprietary information.
The Company acknowledges that it employs industry standard security protocol to ensure that the information which the User stores in, transmits or transfers through TachyLoans is protected. TachyLoans is hosted on a secure server. Access to data is protected by password On the database server, which only accepts connections from the web server, and all the information transmitted from the User’s account to the web server are secured by industry standard transport layer security, specifically server-side SSL.
The User shall be solely responsible for maintaining the confidentiality of the username and passwords, and for all activities that occur under his/her user name. The User agrees to: (a) notify the Company immediately of any unauthorized use of his/her user name and passwords or any other breach of security; and (b) ensure that the User has logged off from his account at the end of each session.
The Company will not be liable for any loss or damage arising from the User’s failure to comply with this clause.
To reflect any changes in the law or the Services, the Company reserves the right to amend and modify these Terms from time to time without prior notice, and each such modification shall be effective upon posting on the Website. Continued use of the Services following any such modification constitutes User’s acceptance to be bound by these Terms as so modified. The most recent updated version of these Terms is available on the "www.tachyloans.com/termsofuse" website. If User does not agree to the modified Terms, he/she should discontinue their use of the Services through the Website or App. Amendment to or modification of these Terms will be considered accepted and binding upon the User if the User continues to use the Services even after such changes to these Terms.
Term & termination
These Terms shall be governed by and interpreted and construed in accordance with the laws of India. In case of a dispute between the Parties which cannot be amicably resolved through negotiations within thirty (30) days from the first date that a Party notifies the other of such dispute arising out of or in connection with this Agreement, the dispute shall be submitted, by either Party, to binding arbitration. The arbitration shall be conducted by a sole arbitrator, mutually appointed by the Parties or by the competent court. The seat of arbitration shall be Bangalore, India, and shall be conducted in accordance with the provisions of the Arbitration and Conciliation Act, 1996. The arbitration proceedings shall be conducted in the English language. Notwithstanding the foregoing, the Parties may apply to the courts of competent jurisdiction in Bangalore, State of Karnataka, for preliminary or interim equitable relief, without breach of this arbitration provision.
In the event of a claim against the Company/its directors/employees/affiliates as a result of the acts of the User, his/her employees or any persons who have been authorized by the User, or related to User’s content or information on TachyLoans, the User will indemnify and hold the Company harmless from and against all damages, losses, and expenses of any kind, including reasonable legal fees and costs, related to such claim. The Company shall also have the right to hold the User or such other person liable for the damages, losses and expenses which the Company may incur and initiate proceedings in any appropriate courts or other forums for the material breach of these Terms by the User. Although the Company provides rules for the User conduct, the Company does not control or direct the Users’ actions on TachyLoans and is not responsible for the content or information the Users transmit or share on or use in TachyLoans. The Company is not responsible for any offensive, inappropriate, obscene, unlawful or otherwise objectionable content or information the User may encounter on the App. The Company is not responsible for the conduct, whether online or offline, of any User including the false information or representation given by the User.
The Company controls and operates this Website from India and makes no representation that the materials on the website are appropriate or available for use in other locations. If the User accesses TachyLoans and the Services from other locations, the Users shall alone be responsible for compliance with applicable local laws including but not limited to the foreign exchange and banking regulations of other countries. Unless otherwise explicitly stated, all marketing or promotional materials found on this Website are solely directed to individuals, companies or other entities located in India and comply with the laws prevailing for the time being in force in India.
Disclaimer and limitation of liability
1. THE COMPANY IS NEITHER A MONEY LENDER NOR A NON-BANKING FINANCE COMPANY OR A PORTFOLIO INVESTMENT SCHEME UNDER THE PURVIEW OF THE APPLICABLE LAWS.
2. THE SERVICES ARE DEPENDENT ON VARIOUS ASSUMPTIONS, INDIVIDUAL PREFERENCES AND OTHER FACTORS AND THUS, RESULTS OR ANALYSES CANNOT BE CONSTRUED TO BE ENTIRELY ACCURATE. ANY INFORMATION HEREIN IS THIRD PARTY VIEWS AND IN NO WAY SHOULD IT BE IMPLIED TO BE VIEWS OF THE COMPANY. THE COMPANY IS NOT LIABLE FOR THE USE OF THE INFORMATION OR FOR ANY TRANSACTION THROUGH ANY INVESTMENT VEHICLES OR ANY OTHER THIRD PARTY WHICH MAY BE ENGAGED IN OFFERING OF THESE SERVICES.
3. THE COMPANY TRIES TO KEEP TACHYLOANS, BUG-FREE, AND SAFE, BUT THE USER AGREES TO USE IT AT HIS/HER OWN RISK. THE COMPANY IS PROVIDING THE SERVICES AS IS WITHOUT ANY EXPRESS OR IMPLIED WARRANTIES INCLUDING, BUT NOT LIMITED TO, IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, AND NON-INFRINGEMENT.
4. THE COMPANY DOES NOT GUARANTEE THAT TACHYLOANS WILL ALWAYS BE SAFE, SECURE OR ERROR-FREE OR THAT APP WILL ALWAYS FUNCTION WITHOUT DISRUPTIONS, DELAYS OR IMPERFECTIONS.
5. THE COMPANY DOES NOT WARRANT THAT: (A) THE SERVICE WILL MEET THE USER’S REQUIREMENTS; (B) THE SERVICE WILL BE UNINTERRUPTED, TIMELY, SECURE, OR ERROR-FREE; (C) ANY INFORMATION THAT THE USER MAY OBTAIN FROM THE SERVICE WILL BE ACCURATE OR RELIABLE; (D) THE QUALITY OF ANY PRODUCTS, SERVICES, INFORMATION OR OTHER MATERIAL PURCHASED OR OBTAINED BY THE USER THROUGH THE SERVICE WILL MEET HIS/HER EXPECTATIONS; OR (E) ANY ERRORS IN ANY DATA OR SOFTWARE WILL BE CORRECTED. THE USER AGREES TO BEAR ALL RISK ASSOCIATED WITH THE USE OF OR RELIANCE ON ANY SUCH INFORMATION, AND RELEASE AND HOLD THE COMPANY HARMLESS FROM CAUSE OF ACTION THAT MAY ARISE IN CONNECTION WITH SUCH RELIANCE ON INFORMATION CONTAINED IN TACHYLOANS.
6. THE COMPANY MAKES NO REPRESENTATION, WARRANTIES OR GURANTEES ABOUT THE GENUINENESS AND CREDITWORTHINESS OF ANY REGISTERED USER AND HENCE THE COMPANY SHALL NOT BE HELD LIABLE FOR THE DEFAULT OF ANY USER.WHILE EVERY CARE WILL BE TAKEN BY TACHYLOANS TO ENSURE THAT PROSPECTIVE BORROWERS ARE AS THOROUGHLY SCREENED AS POSSIBLE, LENDERS UNDERSTAND THAT THE DECISION TO LEND IS SOLELY THEIRS AND THE COMPANY GUARANTEES NEITHER ANY RETURN ON THEIR INVESTMENT NOR PRINCIPAL REPAYMENT. THESE ASPECTS SOLELY DEPEND ON THE BORROWER.
7. THE USER AGREES AND ACKNOWLEDGES THAT THE COMPANY WILL NOT BE A PARTY TO ANY TRANSACTION BETWEEN THE LENDERS AND THE RESPECTIVE BORROWERS. TACHYLOANS SHALL NOT BE RESPONSIBLE FOR ANY REPRESENTATIONS MADE BY THE LENDERS/BORROWERS AND ANY LIABILITY ARISING OUT OF SUCH TRANSACTION OR REPRESENTATION. THE COMPANY SHALL NOT BE RESPONSIBLE FOR QUALITY AND/OR WARRANTY OF THE SERVICES PROVIDED BY THE LENDER TO THE RESPECTIVE BORROWER.
8. THE COMPANY IS NOT RESPONSIBLE FOR THE ACTIONS, CONTENT, INFORMATION, OR DATA OF THIRD PARTIES, AND USER RELEASES THE COMPANY, COMPANY’S DIRECTORS, OFFICERS, EMPLOYEES, AND AGENTS FROM ANY CLAIMS AND DAMAGES, KNOWN AND UNKNOWN, ARISING OUT OF OR IN ANY WAY CONNECTED WITH ANY CLAIM THE USER HAS AGAINST ANY SUCH THIRD PARTIES.
9. THE COMPANY WILL NOT BE LIABLE TO THE USER FOR ANY LOST PROFITS OR OTHER CONSEQUENTIAL, SPECIAL, INDIRECT, OR INCIDENTAL DAMAGES ARISING OUT OF OR IN CONNECTION WITH THESE TERMS OR WEBSITE.
10. THE COMPANY IS NOT RESPONSIBLE FOR ANY PROBLEMS OR TECHNICAL MALFUNCTION OF ANY TELEPHONE NETWORK OR LINES, COMPUTER ONLINE SYSTEMS, SERVERS, PROVIDERS, COMPUTER EQUIPMENT, SOFTWARE, FAILURE OF COMMUNICATION ON ACCOUNT OF TECHNICAL PROBLEMS, OR TRAFFIC CONGESTION ON THE INTERNET OR AT ANY WEBSITE OR COMBINATION THEREOF, INCLUDING INJURY OR DAMAGE TO THE USERS OR TO ANY OTHER PERSON’S COMPUTER RELATED TO OR RESULTING FROM PARTICIPATING OR DOWNLOADING MATERIALS IN CONNECTION WITH THE WEB OR IN CONNECTION WITH THE SERVICE.
11. IN NO EVENT WILL THE COMPANY BE LIABLE TO ANY USER FOR ANY DIRECT, INDIRECT, SPECIAL, INCIDENTAL, EXEMPLARY, PUNITIVE OR CONSEQUENTIAL DAMAGES (INCLUDING LOSS OF USE, DATA, BUSINESS OR PROFITS) ARISING OUT OF OR IN CONNECTION WITH THIS AGREEMENT OR THE USER’S USE OF THE TACHYLOANS, COMPANY SPECIFICATIONS, CONTENT, OR OTHER COMPANY PRODUCTS AND SERVICES, WHETHER SUCH LIABILITY ARISES FROM ANY CLAIM BASED UPON CONTRACT, WARRANTY, TORT (INCLUDING NEGLIGENCE), STRICT LIABILITY OR OTHERWISE, AND WHETHER OR NOT THE USER HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH LOSS OR DAMAGE. THE FOREGOING LIMITATIONS WILL SURVIVE AND APPLY EVEN IF ANY LIMITED REMEDY SPECIFIED IN THIS AGREEMENT IS FOUND TO HAVE FAILED ITS ESSENTIAL PURPOSE.
12. IN ANY CASE, THE COMPANY’S AGGREGATE LIABILITY UNDER THESE TERMS WILL NOT EXCEED THE AGGREGATE FEES THE USER HAS PAID FOR ACCESS TO TACHYLOANS. THE COMPANY ASSUMES NO RESPONSIBILITY, AND SHALL NOT BE LIABLE FOR, ANY DAMAGES TO, OR VIRUSES THAT MAY INFECT THE USER’S EQUIPMENT ON ACCOUNT OF THEIR ACCESS TO, USE OF TACHYLOANS OR THE DOWNLOADING OF ANY MATERIAL, DATA, TEXT, IMAGES, VIDEO CONTENT, OR AUDIOCONTENT FROM TACHYLOANS. IF THE USERS ARE DISSATISFIED WITH TACHYLOANS, THE SOLE REMEDY OF THE USER IS TO DISCONTINUE USING TACHYLOANS.
1. For any questions concerning TachyLoans, the Legal Policies, the Services, or anything related to any of the foregoing, the Company’s customer support can be reached at the following email firstname.lastname@example.org or via the contact information available from the following hyperlink: www.tachyloans.com/contact-us.
2. In accordance with the Information Technology Act, 2000, and the rules made there under, any grievance with respect to TachyLoans or the Services, including any discrepancies and grievances with respect to processing of information, the Company’s Grievance Officer may be contacted at: Grievance Redressal Officer:Mr. Naveen Madgula Designation: Chief Operating Officer Address: New # 65, Old # 21, Velacherry Main Road, Little Mount, Saidapet, Chennai – 600015, India. Email:email@example.com