[Note: This is a draft document. After you consent,the relevant details shall be populated in thedocument and a final version would be madeavailable.]

CUSTOMER LOAN APPLICATION FORM

LOAN SANCTION LETTER

Terms of the sanction

• Execution of the loan documents including - loan application form, self declaration, along with term and conditions etc between you and the NBFC. Said loan documents shall collectively constitute the final, binding and superseding document for all purposes of this relationship between you and the NBFC, and customer providing his express consent to the Tenure, Interest Rate, and other charges (if any) offered to him by the NBFC at its sole discretion.

MOST IMPORTANT TERMS AND CONDITIONS / KEY FACT STATEMENT

Key Facts Statement

Part 1 (Interest rate and fees/charges)

Part 2 (Other qualitative information)

Recovery Mechanism:

Process to handle customer complaints/grievances:

Illustration for computation of APR

SELF DECLARATION AND CUSTOMER'S UNDERTAKING:

STANDARD TERMS & CONDITIONS

1. KSF is inter alia engaged in the business of providing credit and financial products to individuals and business entities;
2. CRED is inter alia engaged in the business of assisting financial institutions promote their financial products to individuals who may or may not be clients of the financial institution, through the use of technology and its proprietary product i.e. smartphone application known as the CRED App.
3. CRED is also engaged in the business of assisting financial institutions in recovery of the loans provided from time to timeThe Borrower is an individual who avails the technology services provided by the CRED App, and is desirous of availing financial services and loan products provided by KSF; and
4. The Borrower shall be responsible for ensuring the complete and timely repayment of the loan amount to KSF.

1. DEFINITIONS

1. "Application Form" means, as the context may permit or require, the credit facility application form submitted by the Borrower/s to KSF for applying for and availing of the Loan facilitated by CRED as a technology facilitator through its technology platform ("CRED App"), together with all other information, particulars, clarifications and declarations, if any, furnished by the Borrower/s or any other persons from time to time in connection with the Facility.
2. "Business Day" means a day on which the Bangalore office of KSF, is open for normal business transactions.
3. "Due Date" means the date(s) on which any amounts in respect of the Borrower's Dues including the principal amounts of the Facility, interest and/or any other monies, fall due as specified in the Loan Documents.
4. "Events of Default" means and includes the occurrence of any one or more of the events of default as stipulated in Paragraph 10.
5. "Law" shall mean and include all applicable statutes, enactments, acts of legislature or Parliament, laws, ordinances, rules, by-laws, regulations, notifications, guidelines, policies, directions, directives and orders of any Governmental Authority, statutory authority, tribunal, board, court or recognized stock exchange of India or overseas.
6. "Loan Documents" mean the Application Form, Standard Terms and Conditions, declaration, MITC and include all writings and other documents executed or entered into or to be executed or entered into, by the Borrower/s or as the case may be, in relation, or pertaining to the Loan and each such Loan Documents as amended from time to time.
7. "Most Important Terms and Conditions" or "MITC" means the document containing the salient terms and conditions, pertaining to the Facility availed, which is accepted/confirmed by the Borrower for consideration and processing by KSF.
8. "Prepayment" means the prepayment of the Loan Amount by the Borrower as further explained in clause 6(h) of the Standard Terms and Conditions.
9. "Prepayment Charge" means a charge to be levied by KSF in the event of the Prepayment of the Loan by the Borrower.
10. "Rate of Interest" means the rate of interest applicable on Loan as specified in the MITC.

2. AMOUNT AND TERMS OF FACILITY

1. Subject to the terms & conditions prescribed hereunder, KSF may extend to the Borrower a loan amount ("Loan Amount / Loan") for a period as specified in the MITC ("Term") through CRED which is acting as a direct sales agent on behalf of KSF.
2. Grant of the Loan and acceptance of the Borrower's request and Application Form shall be at the absolute discretion of KSF.
3. KSF shall be entitled to vary at its discretion or at the request of the Borrower, the limits of the Loan (i.e. increase/decrease or renew) sanctioned to the Borrower.

3. DRAWDOWN

1. Once the Application Form is accepted by KSF, the disbursement shall be made by KSF directly to the bank account set out in the Application Form subject to deduction of processing fees and insurance charges as disclosed in the MITC and Key Facts Statement. KSF shall not be obliged to provide any written acceptance to the request of the Borrower as contained in Loan Documents, and may do so by disbursement of the Loan Amount (or a part thereof) requested thereunder by the Borrower.
2. All transactions/withdrawal/utilisation of the Loan Amount (in one or more tranches) will be converted to EMI ("Equal Monthly Installments") with a fixed Term with applicable Rate of Interest as mentioned in the MITC and shall also be displayed in CRED App, as per the request of the Borrower. EMI shall comprise of both the principal amount of the Loan Amount and Interest and any other amounts due under the Loan Documents thereon. Notwithstanding anything to the contrary, KSF may, at any time, without assigning any reason, cancel the undisbursed portion of the Loan Amount and can also recall any or all portion of the disbursed Loan Amount on demand. Upon such recall, the Loan Amount and other amounts stipulated by KSF shall be payable forth with.
3. KSF may, in its discretion and subject to no Event of Default or potential event of default having occurred and at the request of the Borrower, renew or continue the Loan or any part thereof for such period and in such terms and in such event all terms as applicable for such Loan shall mutatis mutandis apply for the rollover/extended portion of the Loan.
4. KSF at its sole discretion agree to the Borrower re- borrowing any amount(s) under the Loan Documents for such amounts not exceeding the capped amount mentioned in MITC and for such further periods as KSF may deem fit in its sole discretion and/or in compliance with applicable laws and including, KSF's discretion in revising any of the conditions for the Loan including, specifying additional conditions, which shall all be binding on the Borrower. The Rate of Interest, tenure and change in conditions for the renewal / re-borrowing shall be as set out in the MITC or intimated by KSF to the Borrower at the time of such renewal or reborrowing.
5. The Borrower may also repay the loan without any penalty within the cooling off period as mentioned in the MITC and the Key Facts Statement by contacting customer support via the CRED App.

4. INTEREST / OTHER CHARGES ETC.

1. The Borrower agrees that KSF shall charge interest on the outstanding amounts calculated at the Rate of Interest as mentioned in the MITC and displayed on the CRED App at the time of availing the loan.
2. The Borrower acknowledges and agrees that the Rates of Interest specified in the MITC / Loan Documents are reasonable and that they represent genuine pre-estimates of the loss expected to be incurred by KSF in the event of non-payment of any monies by the Borrower.
3. The Borrower irrevocably acknowledges that any breach of terms and conditions mentioned herein shall be deemed to require reassessment of initial credit parameters of the Borrower and as a consequence thereof, the Borrower shall, without demur/protest be liable to pay to KSF, a revised rate of interest as may be specified by KSF, from the date of such breach.
4. The Borrower shall bear all applicable taxes including GST in connection with the fees and charges specified in the Loan Documents. In the event of the Borrower failing to pay the monies referred to above, KSF shall be at liberty (but shall not be obliged) to pay the same. The Borrower shall reimburse all sums paid by KSF in accordance with the provisions contained herein.
5. All payments by the Borrower under the Terms and Conditions mentioned herein shall be made free and clear of and without any deduction of tax or levy, except as required under the Law. Any taxes or levy so deducted by the Borrower shall be paid within the statutory time frame and thereafter within 7 (seven) days of depositing such payment or as provided under Law, whichever is earlier, deliver to KSF satisfactory evidence that the tax or levy so deducted at source has been duly remitted to the appropriate authority.

5. COMPUTATION OF INTEREST, COMMISSION AND OTHER CHARGES

1. All Interest, all commissions, discount and all other charges shall accrue from day to day and when debited to the relevant Account shall be calculated on the daily debit balance of such Account and which shall be computed on the basis of 360 days a year and the actual number of days elapsed.
2. The Rate of Interest and commission on the Loan will be charged to accounts, unless specified otherwise, on a monthly basis (and in case of closure of individual Loan account on the day of such closure) and payable by the Borrower.

6. REPAYMENT

1. The Borrower shall repay the Loan Amount to KSF in such number of EMIs, and with such instalments being of such amounts and on the Due Dates as communicated by KSF through the CRED App or otherwise. The initial repayment schedule is set out in MITC.
2. The Borrower shall make the payment of EMIs to KSF on Due Dates. If the respective Due Date is not a Business Day, then the Borrower agrees that the payment shall be made on the subsequent Business Day.
3. KSF hereby authorises CRED to undertake collection activities on its behalf from the Borrower. The Borrower shall make repayments of the Loan Amounts/EMI primarily through NACH mandate or through any of the following modes as may be approved by KSF from time to time such as post-dated cheques ("PDC method") / the Electronic Clearing System (Debit Clearing) as notified by the RBI ("ECS method") / by deduction from the Borrower's salary ("Salary Debit method") or by directly paying amounts by cash or cheque or electronic transfers such as UPI, NEFT etc (all of the forgoing collectively, "Repayment Instruments").
4. Borrower agrees to register an e-NACH / NACH mandate in name of CRED (registered entity name 'Dreamplug Technologies Private Limited') for collections on behalf of KSF into a Nodal Account of KSF. CRED and KSF reserves the right to transfer the above said mandate in the name of KSF, as mutually agreed upon between KSF and CRED.
5. The amount of the EMIs together with other details of the Loan Amount (including rate of interest) may also be communicated to the Borrower at his/her registered email/mobile number.
6. If the Borrower cancels or revokes or issue stop-payment instruction (or attempts to cancel or revoke) such Repayment Instruments without the prior consent of KSF, such acts of the Borrower shall be deemed to have been committed with a criminal intent and KSF shall be entitled to initiate appropriate criminal proceedings against the Borrower. The Repayment Instruments remain valid for the Loan Amount along with interest, penal charges and other charges. The Borrower shall ensure availability of funds to honour the Repayment Instruments. The Borrower shall, without any demur or delay, bear, pay/reimburse KSF for all and any losses, damages, costs, charges, claims, expenses and liability of any kind or nature whatsoever including but not limited to stamp duty, penalties, taxes and charges as applicable, suffered, sustained or incurred by KSF or as may be levied from time to time by the Governmental Authority or any other authority in connection with/on (a) the application for and the grant and repayment of the Loan Amount , (b) the Application Form, Loan Terms and/or any other documents, (c) recovery and realization of the Borrower dues, if and when the same is required to be paid according to the Laws for the time being in force.
7. The Borrower shall be required to pay the entire amount of the EMI for a particular month on the Due Date, as indicated in the Loan Documents without any further notice/intimation being given by KSF and all such amounts payable by the Borrower to KSF shall be paid, without any deductions whatsoever so as to enable KSF to fully realise the amounts due on or before the respective Due Date(s) and the same shall not be permitted to be carried forward/included in the next month. Credit for payments by any method will be given only on realisation.
8. In the event the EMI payment is not made by the Due Date as specified, it shall be construed as a default by the Borrower and the Borrower shall become liable to pay penal charges, as specified by KSF under MITC.
9. Charges if any, will be applicable as displayed on the CRED App and set out in the MITC.
10. The Borrower shall not, without the approval of KSF (which approval may be given subject to such terms and conditions as may be stipulated by KSF including payment of minimum prepayment amount, prepayment premium or discounted interest and/or any other charges, plus applicable interest tax or other statutory levy), prepay the outstanding principal amount of the Facility in full or in part, before the Due Dates ("Prepayment"). In the event any Prepayment of the Loan is permitted by KSF, Borrower /s shall be liable to pay the Pre-Payment Charges, if any, specified in the MITC and the repayment schedule shall be amended by KSF and the Borrower shall thereafter make payments as per such amended repayment schedule communicated to the Borrower by KSF on the CRED App and/or through email.
11. KSF may at any time, without assigning any reasons and without notice to the Borrower demand repayment of the Loan, and thereupon the principal amount outstanding together with all interest, charges expenses etc. thereon shall become immediately due and payable by the Borrower to KSF.
12. If the Due Date in respect of any amounts payable under the Loan Documents falls on a day which is not a Business Day at the place where the payment is to be made, the immediately succeeding Business Day shall be the Due Date for such payment.
13. The Borrower shall reimburse all sums paid and/or expenses incurred by KSF and/ or CRED on behalf of KSF (including by or on behalf of their representatives/consultants/appraiser) in relation to the Loan immediately on demand. All such sums shall carry interest from the date of payment till such reimbursement to KSF at the rate of interest specified in the MITCs .
14. The Borrower agrees, declares and confirms that, notwithstanding any of the provisions of the Indian Contract Act, 1872 or any other Law, or any terms and conditions to the contrary contained in this Terms and Conditions, KSF may, at its absolute discretion, appropriate any payments made by the Borrower under this terms and conditions or otherwise, towards the dues payable by the Borrower to KSF under this Terms and Conditions and/or other arrangements entered into between the Borrower and KSF and in any manner whatsoever.
15. Credit for all payments will be given only on realization.

7. REPRESENTATIONS AND WARRANTIES

1. The Borrower hereby represents, warrants, assures and confirms as applicable to it, that:
1. the Borrower has the power and authority to accept the Loan Documents and the same does not conflict with any Law, constitutional document, any other documents to which the Borrower is a party.
2. all accounts and financial statements furnished by the Borrower to KSF (if any) have been prepared in accordance with accounting standards and practices in force in India and present true and fair financial position of the Borrower.
3. no event or circumstance is outstanding which constitutes a default under any other arrangement or instrument which is binding on the Borrower or its Affiliates or to which its assets are subject, which might have a material adverse effect.
4. All statutory dues and taxes have been paid (save and except as disclosed in writing to KSF).
5. the information furnished by the Borrower to CRED or KSF in connection with or for obtaining the Loan is true, complete and correct and not misleading in any material respect.
6. neither the Borrower, nor any person acting on his/her behalf, has been engaged in (i) corrupt practices, fraudulent practices, collusive practices or coercive practices in connection with the Borrower's business and operations, (ii) money laundering or acted in breach of any Laws relating to money laundering; or (iii) the financing of terrorism.
7. the Borrower has not committed any breach under any agreement entered into with any person for availing any finance facility and neither is the Borrower facing any litigation initiated by another financier including banks.
8. except to the extent disclosed to KSF: (i) all the Borrower's contracts or agreements with, or any commitments to, any affiliates or group companies (if applicable) are on arms' length basis; (ii) he/she is not a director or specified near relation of a director of a banking company; (iii) he/she is not a specified near relation to any senior officer of KSF.
9. that neither the Borrower nor any other person benefiting in any capacity in connection with or from this Terms & Conditions and/or any instruments and/or payments thereunder is a Specially Designated National (SDN) and/or otherwise sanctioned, under the sanctions promulgated/issued by India and/or any other country from time to time (collectively, the "Sanctions"). This representation will continue to remain valid till the repayment of all amounts under the Loan Documents and conclusion of the underlying transaction pursuant to the Loan Documents.
10. The Borrower represents to utilize the entire Loan Amount solely for the purpose, stated in the Application Form and shall not use the Loan Amount for any unlawful purposes and/or anti-social purpose or speculative purposes. Further, it shall not assign its rights or obligations hereunder to anyone except with the prior permission of KSF.
11. The Borrower's Dues shall not be affected, impaired or discharged by winding up/ insolvency/ death/ dissolution / merger or amalgamation/ reconstruction or otherwise of the Borrower or takeover of the management or nationalisation of the undertaking of the Borrower, as the case may be.
12. The Borrower is not a Politically Exposed Person as defined under the Master Direction - Know Your Customer (KYC) Direction, 2016 (as amended from to time) issued by the Reserve Bank of India.
2. All representations and warranties of the Borrower contained herein shall survive until the Loan has been repaid in full.
3. The Parties confirm that to the extent applicable, CRED and the KSF shall ensure compliance with RBI guidelines in relation to digital lending (as amended from time to time).

8. CONDITIONS PRECEDENT TO DISBURSEMENT

9. COVENANTS AND UNDERTAKINGS OF THE BORROWER

1. Positive Covenants

1. Notify CRED and KSF of the occurrence of any event or the existence of any circumstances which constitutes or results in any declarations, representations, warranty, covenants or condition under the Loan Documents being or becoming untrue or incorrect in any respect.
2. Inform CRED and KSF of any litigation, arbitration or other proceedings, which have a material adverse effect, within a period of two Business Days upon the same being instituted or threatened by any person whatsoever.
3. Inform CRED and KSF about any proposed action by the Borrower or action taken by any other person under any insolvency/bankruptcy laws against the Borrower.
4. If required by CRED or KSF at any time, deliver to CRED and KSF: (a) copies of all documents issued by the Borrower to all its creditors (or any general class of them) at the same time as they are issued; (b) such information and records (financial or otherwise) about the Borrower's business, as may be required by KSF from time to time in relation to the Facilities within the period specified by KSF (c) a certificate from the statutory auditor of the Borrower or independent chartered accountant that the proceeds of the Loan have been utilized for the purpose specified at the time of availing the loan as and when demanded by KSF. If required by CRED or KSF at any time, deliver to CRED and KSF in form and detail satisfactory to KSF and in such number of copies as KSF may request.
5. Deliver to KSF and CRED, statements or information pertaining to the business operations (if any) of the Borrower as KSF or CRED may reasonably require, within such period as required by KSF or CRED.
6. Perform, on request of CRED or KSF and at the expense of the Borrower, such acts as may be necessary to carry out the intent of this Loan Documents including but not limited to executing and delivering such further arrangement, undertaking, declarations, assurances and writings.
7. Promptly inform CRED and KSF of any distress or other process of court being taken against any of the Borrower's premises and/or property and/or assets.
8. Notify CRED and KSF of any material loss or damage which the Borrower may suffer due to any event, circumstance or act of God. Further, the Borrower agrees to intimate KSF from time to time, details of insurance claims lodged/ filed and received by the Borrower.
9. File all relevant tax returns and pay all its taxes/duties promptly when due.
10. Comply with such other conditions as may be stipulated by KSF from time to time on account of requirement of any Law.
11. If required by CRED or KSF at any time, submit to KSF the information etc. as envisaged under applicable Laws.
12. Ensure that the transactions entered into pursuant to the Loan Documents do not violate any Sanctions, directly or through persons or entities subject to any Sanctions, which may pertain inter alia, to the purpose and/or end use of the Facility, goods manufactured in or originated from/through certain countries, shipment from/to/using certain countries, ports, vessels, liners and/or due to involvement of certain persons and entities.
13. If required by Lender/CRED, provide KYC documents such as PAN card or Form 60, Aadhaar Card/driving licence/passport, last 3 month bank statements or income proof.
14. In case of any update in the know-your-customer ("KYC") information / documents submitted by the Borrower at the time of establishment of lender-borrower relationship or thereafter, Borrower shall submit to the Lender the updated details of such KYC information / documents, within 30 (thirty) days of such update for the purpose of updating the records at the Lender's end and immediately intimate CRED and KSF in respect of any change in the contact details, residential, or any other details as intimated to CRED or KSF;
15. Borrower further agrees and acknowledges that in the event the Borrower is not contactable at the registered contact details and/or address, then KSF and/or CRED shall be at liberty (either directly or through subcontractors) to carry out skip tracing of the Borrower in order to determine the Borrower's whereabouts and contact.
16. To the extant applicable, the Borrower agrees that if the Lender requires a specific certification from the Borrowers' auditors regarding diversion/siphoning of funds by the Borrower, then the Lender shall have the right to award a separate mandate to the auditors of the Borrower for the aforementioned purpose. In addition to the above, the Borrower agrees that the Lender is free to engage its own auditors for such specific certification without relying on certification given by Borrowers' auditor. Borrower further agrees that depending upon the nature of the Borrower's acts underlying the wilful default and the quality of evidence available with the Lender in the normal course, the Lender may consider commissioning a forensic audit of the affairs of the Borrower and their books of accounts, in respect of accounts with an outstanding above a threshold fixed by the board approved policy of the Lender. In case where there is a suspicion / indication of wrongdoing or fraudulent activity in the Borrower's accounts, the Lender shall use an external audit or an internal audit for further investigation in such accounts. In cases where the audit report submitted remains inconclusive or is delayed due to non-cooperation by the Borrower, the Lender shall conclude on status of the account as a fraud or otherwise based on the material available on Lender's record and their own internal investigation / assessment in such cases.
17. To the extant applicable, the Borrower declares that neither the Borrower nor any director/partner/ member, as the case may be, of the Borrower have been declared to be a wilful defaulter as per applicable RBI guidelines. The Borrower shall not induct a person whose name appears in the List of Wilful Defaulter on its board or as a person in charge and responsible for the management of the affairs of the Borrower. In case such a person is found to be on Borrower's board or as a person in charge and responsible for the management of the affairs of the Borrower, the borrower would take expeditious and effective steps for removal of such a person from the board or from being in charge of its management. The Borrower agrees that the Lender shall not renew/ enhance/ provide fresh credit facilities or restructure existing facilities provided to the Borrower so long as the name of its promoter and/or the director (s) and/or the person in charge and responsible for the management of the affairs of the entity remains in the List of Wilful Defaulter.

2. Negative Covenants

The Borrower covenants and undertakes that, so long as the Loan Amount or any part thereof are outstanding, and until full and final payment of all moneys owing hereunder, the Borrower shall not, without the prior written consent of KSF:
1. Contract, create, incur, assume or suffer to exist any indebtedness, except as otherwise permitted under Loan Documents or prepay any indebtedness; use the loan proceeds for unlawful purposes and/or anti-social purpose or speculative purposes. This provision shall not apply to loans and advances granted in the ordinary course of business;
2. The Borrower shall not file any application for seeking immunity under any Law without obtaining prior written consent of KSF;

10. EVENTS OF DEFAULT AND CONSEQUENCES THEREOF

1. The occurrence of any one or more of the following events shall constitute an "Event of Default" under these Standard Terms and Conditions:
1. The Borrower fails to pay/repay any monies in respect of the Loan Amount/EMI including Rate of Interest, penal charges or other charges on the Due Dates, whether at stated maturity, by acceleration or otherwise;
2. Breach of any statement, representation, warranty or confirmation or covenant made herein or Borrower's proposal / application or in this Terms and Conditions or otherwise on the part of the Borrower/third party in relation to the Borrower;
3. Any other event/material change which prejudicially alters KSF's interest or may have material adverse effect including but not limited to nationalization/expropriation and/or compulsory acquisition of the Borrower's assets by the authority of government;
4. The Borrower is in breach/default of any agreement with any person who has provided loans, deposits, advances, guarantees or other financial facilities to the Borrower;
5. The Borrower has, or there is a reasonable apprehension that the Borrower has or would, voluntarily or involuntarily become the subject of proceedings under any bankruptcy or insolvency law, or certificate proceedings have been taken or commenced for recovery of any dues from the Borrower/s.
6. If any attachment or distress or restraint has been levied on the Borrower's assets or any order/certificate has been passed for recovery of dues and such order or judgment is not vacated, discharged or stayed for a period of 30 days, and such judgments or orders involve in the aggregate a liability which could have a material adverse effect;
7. Any legal, quasi-legal, administrative, arbitration, mediation, conciliation or other proceedings, claims, actions or governmental investigations of any nature pending against the Borrower in management of the Borrower or any of its assets which individually or in the aggregate would, if adversely determined, have a material adverse effect.
8. The Borrower is unable or has admitted in writing its inability to pay any of its indebtedness as they mature or when due;
9. Any consent, authorization, approval or the like, or license of or registration with or declaration to government or statutory or regulatory authority made by the Borrower for entering into the Loan Documents is revoked or terminated and is not in full force and effect;
10. The death, lunacy or other disability of the Borrower; if the Borrower ceases or threatens to cease to carry on any of its businesses or gives notice of its intention to do so or if all or any part of the assets of the Borrower required or essential for its business or operations are damaged or destroyed or there occurs any change from the date of submission of the Application Form in the general nature or scope of the business, operations, management or ownership of the Borrower, which could have a material adverse effect.
11. It is or becomes improper or unlawful for the Borrower or any person (including KSF or CRED) to perform any of their respective obligations under the Loan Documents.
12. One or more events, conditions or circumstances (including any change in law) occur or exist, which in the sole opinion of KSF, could have a material adverse effect.
2. Upon occurrence of an Event of Default, KSF shall be entitled, by a notice, to:
1. declare the Loan, together with accrued interest and other monies, to be immediately due and payable and upon such declaration, the same shall become immediately payable by the Borrower;
2. exercise any or all rights and recourses available under the Loan Documents and/or under applicable Law.

11. INDEMNITY

12. DISCLOSURE

1. The Borrower agrees that in addition to any other rights enjoyed by KSF, in the event of the Borrower committing any default, CRED and/or KSF shall be entitled to disclose to the RBI or any other statutory or regulatory authority or to any other third person, the name/identity of the Borrower and/or its directors/partners/ trustees and the default committed. In case of default in payment of any of the indebtedness to CRED and/or KSF, CRED and/or KSF or the RBI will have an unqualified right to disclose or publish the name of the Borrower and/or its directors/partners/trustees as defaulters (including as wilful defaulters) in such manner and through such medium as CRED and/or KSF and/or the RBI in their absolute discretion may deem fit. Any lending done through CRED shall be reported to Credit Information Companies irrespective of its nature/tenure. The Borrower further agrees that KSF may, as it deems appropriate and necessary disclose and furnish to TransUnion CIBIL Limited (formerly known as Credit Information Bureau (India) Ltd ("CIBIL") and any other agency authorized in this behalf by RBI all or any of the following:
1. information and data relating to the Borrower;
2. the information or data relating to the Facilities availed of/to be availed, by the Borrower; and
3. the information and details of the default, if any, committed by the Borrower, in discharge of the indebtedness.
2. The Borrower agrees and undertakes that:
1. CIBIL, CRIF, Experian, Equifax and any other agency so authorized may use, process the said information and data disclosed by CRED and/or KSF in the manner as deemed fit by them; and
2. CIBIL and any other agency so authorized may furnish for consideration, the processed information and data or products thereof obtained by them, to banks/ financial institutions and other credit grantors or registered users, as may be specified by the RBI in this behalf.
3. KSF may at the risk and cost of the Borrower engage one or more person(s) to verify any facts or information furnished by, concerning or pertaining to the Borrower and/or in relation to and the Loan Documents and/or to collect the indebtedness and may furnish to such person(s) documents, information, facts and figures as KSF thinks fit and may delegate to such person(s) the right and authority to perform and execute all acts, deeds, matters and things connected therewith or incidental thereto as KSF may think fit. KSF shall be entitled to carry inspections at such intervals, as it may deem fit.
4. The Borrower expressly recognizes and accepts that KSF shall, without prejudice to its right to perform such activity itself or through its officers and agents be absolutely entitled and have full powers and authority to appoint one or more third parties and/or recovery agents of KSF's choice and to transfer and delegate to such third parties/ recovery agencies, the right and authority to do collection on behalf of KSF.
5. The Borrower hereby agrees and confirms that KSF will have the right to disclose and share any information pertaining to the Borrower including, but not limited to, credit facility/ies, constitution, net worth, shareholding of the Borrower with (i) any other bank(s)/financial institution(s) in the form and manner prescribed by the RBI; (ii) any agent, contractor, third party service provider or professional adviser (wherever situate) of KSF; (iii) any person to (or through) whom KSF assigns or transfers or novates (or may potentially assign or transfer or novate) all or any of its rights or obligations under the Loan Documents; (iv) any person to whom KSF is required to make disclosure under the requirements of any law, regulation, guidelines (whether SEBI, RBI etc.) or practice.

13. SET-OFF / CONSOLIDATION

14. WAIVER

15. APPOINTMENT OF THIRD PARTIES BY KSF

1. The Borrower hereby agrees, aware and accepts that for the better and more effectual doing and performing of actions related to the facility, KSF has appointed CRED (with registered entity as 'Dreamplug Technologies Private Limited') as its "Loan Agent" or "Direct Sales Agent" or "Outsourced Partner" to do, execute and perform all or such acts or things as KSF may assign, authorise or delegate it from time to time.
2. The Borrower accepts that KSF shall without prejudice to its right to perform the activities itself or through its officers or employees or other authorised agents, be entitled, and have full power and authority, to appoint one or more third parties and delegate to such third party all or any of its functions, rights and powers under this Terms and Conditions relating to the administration of the Loan Amount including the right to collect and receive on behalf of KSF all the dues under this Terms & Conditions and give valid and effectual receipts and discharge to the Borrower and to perform and execute all lawful acts, deeds, matters and things connected herewith or incidental hereto. For the purpose aforesaid or any other purpose which KSF at the sole discretion may deem fit, KSF shall be entitled to disclose to such third parties all necessary and relevant information pertaining to the Borrower.
3. The Borrower expressly recognizes and accepts that KSF shall, without prejudice to its rights to perform such activities either itself or through its officers or servants be absolutely entitled and have full power and authority to appoint CRED or one or more third parties of KSF's choice and to transfer or delegate to such third parties the right and authority to take all acts/steps as are necessary for KSF to take in order to monitor the Loan and the Borrower dues and/or to recover/receive amounts due to KSF or collect on behalf of KSF all unpaid amounts under the Loan Documents and to perform and execute all acts, deeds, matters and things connected therewith or incidental thereto including attending the office or residence of the Borrower, receiving the amounts due and generally performing all lawful acts as the third party may consider appropriate for such purpose and that KSF shall be at all times, be entitled to share with any such third party/ other person that may thus be appointed by KSF, all documents, statements of accounts and other information of whatsoever nature pertaining to the Borrower and/or the Loan Amount. KSF shall be entitled at the sole risk and cost of the Borrower to engage one or more person(s) to collect the Borrower's dues and shall further be entitled to share such information, facts and figures pertaining to the Borrower as KSF deems fit. KSF may also delegate to such person(s) the right and authority to perform and execute all such acts, deeds, matters and things connected herewith, or incidental thereto, as KSF may deem fit. The Borrower/s recognizes, accepts and consents to such delegation.

16. ARBITRATION

1. Any dispute or claim arising out of or in relation to this Agreement, including its existence, construction, meaning, scope or validity, termination or breach shall be referred to and resolved by arbitration, administered electronically, by a sole arbitrator to be appointed by any of the below mentioned online dispute resolution forums ("ODR") namely:
1. Webnyay Private Limited, having its office at 1241, Sector 18, Chandigarh - 160018; Website: https://www.webnyay.ai/ Email: arbitration@webnyay.ai;
2. Presolv360, having its office at 1st floor, Esperanca building, Shaheed Bhagat Singh Road, Colaba, Mumbai -400001; Website: http://www.presolv360.com/ Email: admin@presolv360.com;
3. SAMA, having its office at W-901, Rohan Jharokha 2, Yemalur, Near HAL Airport, Bangalore, 560038, Karnataka; Website: https://www.sama.live/; Email: pranjal@sama.live;
4. Any arbitral institution designated under the provisions of the Arbitration and Conciliation Act, 1996 ("the Act")
2. Either Party may at its own discretion approach any of the ODR seeking appointment of a sole arbitrator by writing an email with a request to appoint a sole arbitrator and copying the email to the other Party. The email address of the Borrower shall be as provided by the Borrower in the loan application form/loan journey and/ or as mentioned in this Agreement and the email address of the Lender shall be as mentioned in this Agreement. Parties shall inform the other Party about any change in the email address.
3. The arbitration proceedings shall be carried out in accordance with the rules of the ODR as prevailing and as amended from time to time.
4. The arbitration proceedings shall be based on documents only which shall be conducted through exchange of e-mail and/or any other mode of electronic communication as permitted by the rules of the respective ODR. The Parties hereby agree that the arbitral proceeding shall be conducted in electronic mode and all pleadings and documents will be exchanged electronically. There shall be no in-person and/or oral hearings except in certain exceptional circumstances as the arbitrator may deem fit upon the request of either of the Parties. In such instances, the hearings shall be conducted virtually at the sole discretion of the arbitrator. The seat of arbitration for all purposes shall be at Bengaluru, Karnataka. The language of arbitral proceedings shall be English.
5. In the event the arbitrator to whom the matter is originally referred, resigns or dies or is unable to act for any reason, the ODR, as per its rules, shall appoint another person in his/her place to act as arbitrator who shall proceed with the reference from the stage at which it was left by his/her predecessor.
6. All notices, processes and communications between the Parties with respect to the arbitration proceedings shall be through e-mail or any other mode of communication permitted by the ODR, notwithstanding the notice clause contained in the Agreement which shall continue to apply to all other communications between the Parties.
7. It shall be the responsibility of the Parties to keep their email addresses active and maintain sufficient space in the e-mail account and/or in any other mode of electronic account(s) and also to have supporting applications/software in their computer/mobile/any other electronic device to access the electronic documents sent to them. It shall also be the responsibility of the Parties to save the emails in the address book. The delivery of emails to folders pertaining to spam, promotion, etc., by whatever name called by the email service providers, shall also be a deemed delivery.
8. Subject to the foregoing, the courts at Bengaluru, Karnataka shall have exclusive jurisdiction in respect of matters arising under this Agreement including any application for setting aside the award/appeal and the Parties shall not object to such jurisdiction. The arbitration shall be conducted under the provisions of the Arbitration and Conciliation Act, 1996 together with its amendments, any statutory modifications or re-enactment thereof for the time being in force. The award of the arbitrator shall be final and binding on all parties concerned.
9. The cost of arbitration shall be borne by the Party against whom the award shall be passed.

17. MISCELLANEOUS

1. All notices, requests, demands, waivers or other communications under or in connection with this Terms and Conditions shall be given in writing. Any such notice or other communication will be deemed to have been duly given and being received if: (a) if by personal delivery on the day after such delivery, (b) if by registered mail, on the third Business Day after the mailing thereof, (c) if by next-day or overnight mail/courier or delivery, on the day delivered, (d) if sent by email/facsimile, when sent (on receipt of a confirmation to the correct facsimile number). Provided, however, that no notice or communication to CRED and/or KSF shall be effective unless actually received by CRED and/or KSF. Notices or communication may be made to: (i) the Borrower's address or facsimile number or e-mail id, and (ii) CRED's and KSF's address or facsimile number specified in Loan Documents hereof, or to such other address or facsimile number as may be designated by the Borrower and CRED and/or KSF in writing to each other.
2. The entries made in the accounts / account books / records of KSF maintained in accordance with its usual practice and in compliance with the statutory requirements and/or a statement signed by a designated officer of KSF, shall be final and binding on the Borrower. Such entries and/or statement shall be prima-facie and conclusive evidence of the existence and amount of obligations of the Borrower as therein recorded in respect of the Loan.
3. The Borrower shall not assign or transfer or novate all or any of its rights, benefits or obligations under this Loan Documents without the approval of KSF. KSF may, at any time, sell, assign or transfer or novate or allow risk participation all or any of its rights, benefits and obligations under this Terms and Conditions and the other arrangement to any person(s) of KSF's choice in whole or in part and in such manner and on such terms as KSF may decide without any reference to the Borrower. In case KSF assigns a part of the disbursed Loan to any person without the consent of the Borrower, such disbursed portion which has been assigned would constitute a separate and distinct loan and the Borrower shall not raise any objection or defense under Law, or otherwise. The Borrower shall, unless otherwise notified by KSF, continue to make all payments under the Loan Documents to KSF and all such payments when made to KSF shall constitute a full discharge to the Borrower from all its liabilities in respect of such payments.
4. Any provision of this Terms and Conditions which is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of prohibition or unenforceability but that shall not invalidate the remaining provisions of this Terms and Conditions or affect such provision in any other jurisdiction.
5. The Borrower hereby agrees and confirms that in case any other person providing any financial assistance to the Borrower imposes any conditions not included herein, or in case any of the terms offered by the Borrower to such person is more favorable to such person than the terms stipulated by, or offered to, KSF, the Borrower shall promptly inform KSF of such terms or conditions and such of those terms and conditions as may be considered necessary by KSF, in its discretion, shall apply to the Facilities as if the Borrower had specifically agreed to such terms and conditions, which terms and conditions shall be deemed to have been expressly incorporated herein.

Grievance Redressal Officer of the Lender

ACKNOWLEDGEMENT FORM

TAXES & LEVIES

1. In the event of any change of address for communication, any change in my/our job, profession, I shall intimate the same to KSF and CRED, as soon as practicable and preferably one month in advance.
2. The interest rate would be computed on daily balance basis and charged on monthly rests at the rate set out in the MITC. Interest rates are subject to change at any point of time at the sole discretion of KSF pursuant to directions issued by RBI or other regulatory/statutory bodies and shall be intimated to me through the CRED App or other modes of communication .
3. I further acknowledge that the Loan shall be governed by the Standard Terms and Conditions as specified above. I confirm having received a copy of the Standard Terms and Conditions. I further confirm that I have read and understood the terms and conditions mentioned in the Loan Documents and accept the said Loan Documents unconditionally and agree that these terms and conditions may be changed by KSF at any time and accordingly I will be bound by the amended terms and conditions.
4. I am aware that the Application Form, MITC , Standard Terms and Conditions, Self Declaration and other incidental documents accepted / electronically executed by me integrate all the conditions mentioned herein or incidental thereto, and supersede all negotiations or prior writings, except for those provisions specified herein. In the event of any conflict between the terms, conditions and provisions of MITC/ Standard Terms and Conditions/ documents executed incidental thereto with the terms mentioned herein, then in such an event the terms, conditions and provisions of mentioned in MITC shall prevail.

IMPORTANT NOTE: