Terms & Conditions

1.1 Thank you for visiting www.skyrisefinance.com by accessing or using the website www.skyrisefinance.com whether automated or otherwise, you, a registered or guest user in terms of the eligibility criteria set out herein ("User"), agree to be bound by these Terms and Conditions ("Terms of Use") and any additional terms and conditions that are referenced below or otherwise may apply to specific areas of the website, from time to time. We encourage our Users to read these Terms of Use carefully while using the website.

1.2 The Website is owned and operated by SKYRISE CREDIT & MARKETING LIMITED, a company incorporated under the provisions of the Companies Act, 2013 bearing corporate identity number (CIN) U74899DL1993PLC055475. All references to the Website in these Terms of Use shall deem to refer to the aforesaid entity in the inclusion of the online portal.

1.3 The contents set out herein form an electronic record in terms of the Information Technology Act, 2000 and rules there under as applicable and as amended from time to time. As such, this document does not require any physical or digital signatures and forms a valid and binding agreement between the website and the User. Further, please be advised that these Terms of Use are made available to the User pursuant to and in accordance with the provisions of Rule 3 (1) of the Information Technology (Intermediaries Guidelines) Rules, 2011 that require publishing the rules, regulations, privacy policy and terms of use for access or usage of the website.

1.4 We reserve the right to change these Terms of Use at any time. The changes will be effective from the date and time of the posting of such changes. By continuing to use the website after we post any such changes, you accept the Terms of Use as modified.

2.1 Use of the Website is available only to such persons who can legally contract under the Indian Contract Act, 1872. Persons who are "incompetent to contract" within the meaning of the Indian Contract Act, 1872, including minors, un-discharged insolvents, etc, shall not be eligible to use the website. If the person accessing the website is a minor i.e., under the age of 18 years, such person shall not register as a User of the Website and shall not transact on or use the website.

2.2 The Website reserves the right to terminate any membership and/or refuse to provide access to the website if it is brought to the website's notice or if it is discovered that the person accessing/using the website is under the age of 18 years.

2.3 By accepting the Terms of Use, the User irrevocably declares and undertakes that he/she is of legal age i.e., 18 years or older, and capable of entering into a binding contract and that such acceptance shall be deemed to form a contract between the website and such User to the extent permissible under applicable laws.

2.4 The User must have a rupee-denominated savings/current account with a bank in India.

2.5 User must have PAN (Permanent Account Number), allotted by the Income Tax Department of India.

2.6 By accepting the Terms of Use, you acknowledge that you have also read and understood the risks involved in lending and/or borrowing through the website.

3.1 As indicated, any person may access the website either by registering on the website or using the website as a guest. However, a guest user may not have access to all sections of the website, which shall be reserved only for the purpose of registered Users, and which may change from time to time at the sole discretion of the website.

3.2 All eligible Users who wish/have to register themselves with the website shall be required to create an account by filling in the details prescribed in the website.

3.3 By applying for registration, the User agrees and authorizes us to carry out such checks and verification. As part of the registration process:

• 3.3.1 we shall run identity, KYC, fraud checks.
• 3.3.2 obtain a credit rating for Users from the Credit Information Bureau;
• 3.3.3 carry out residence and/or work verification at your employment location;

3.4 If any User provides any information that is untrue, false, not updated, and incomplete or the website has reasonable grounds to believe that such information is untrue, false, not updated, incomplete, the website shall have the right to suspend or terminate the relevant User account and refuse any and all current or future use of the website (or any portion thereof).

3.5 Users of the Website may be required to provide certain personal information and expressly permit the website for accessing and/or collecting and retaining such personal information of the Users. Such provision and/or collection, storage, retention, use, and disclosure of the Personal Information of the Users shall be subject to the website's privacy policy.

4.1 To borrow through the website, you must log on to SKYRISE Account.

4.2 All registered Users of the Website shall be solely responsible for activities relating to the account, and the website or the entity operating the same shall not in any manner be held responsible and/or liable for any illegal acts including but not limited to misuse, unauthorized access, hacking of the website or refusal to access the website due to such reason.

4.3 All Website Users hereby confirm and acknowledge that they have been provided with a copy of the loan agreement ("Loan Agreement") to be entered between the Borrower and the Lender. All Users further confirm that they have read and understood all the terms and conditions of the Loan Agreement and, upon execution, do hereby covenant and undertake to unconditionally abide by the same, without raising any defence of whatsoever nature in respect thereof.

4.4 If any User learns or is made or becomes aware of any instance of hacking or misuse of its SKYRISE Account, it shall without delay notify the website of the same.

4.5 We can refuse to act on any instruction received from User that we believe: (a) was unclear; (b) was not given by the user; (c) might cause us to breach a legal or other duty, or (d) suggests that the website is being used for any illegal purpose.

4.6 The Website disclaims, and the User waives off, any and all claims/liabilities arising out of any unlawful usage of the website, the Personal Information of the User, inaccessibility of the website for any reason whatsoever, which are caused owing to cause beyond the control of the website. While the website employs the best efforts to ensure the aforesaid, it cannot guarantee the same. No User shall trade or sell such User accounts in any manner whatsoever.

4.7 Notwithstanding anything contained herein, the website may be inaccessible for such purposes as it may, at its sole discretion deem necessary, including but not limited to regular maintenance. The website may intimate the Users from time to time regarding such inaccessibility. However, under no circumstances will the website be held liable for any losses or claims arising out of such inaccessibility to the Users, and the User expressly waives off any and all claims/liabilities arising to this end.

4.8 The Website grants every User a limited, non-exclusive, and revocable license to access the website and only to the extent such use does not violate these Terms of Use, including, without limitation, the prohibitions listed in clause 6.1 of the Terms of Use.

4.9 The User shall solely be responsible for obtaining access to the website, and that access may involve third-party fees (such as internet service provider fees or airtime charges). In addition, the User must provide and shall be responsible for all equipment necessary to access the website. The User may not bypass any measures that have been implemented to prevent or restrict access to this website.

4.10 Any unauthorized use and/or access of/to the website by a User (including any access through the registered account of that User or any device that the User may use to access the website) shall terminate the permission or license granted to the User by the website.

4.11 Under no circumstance shall any User save copies, download, and print or otherwise store any content of the website for any commercial purposes. Accessing, downloading, storing, or otherwise using the content of the website for any commercial purpose will constitute a material breach of these terms & conditions.

4.12 The Website strictly prohibits any use of the content available through the website, including but not limited to: (i) any downloading, copying or other use of the content or the website for purposes competitive to the website or for the benefit of any third party; (ii) any caching, unauthorized linking to the website or the framing of any content available on the website; (iii) any modification, distribution, transmission, performance, broadcast, publication, uploading, licensing, reverse engineering, transfer or sale of, or the creation of derivative works from, any content, products or Services obtained from the website that the User does not have a right to make available (such as the intellectual property of another party); (iv) any uploading, posting or transmitting of any material that contains software viruses or any other computer code, files or programs designed to interrupt, destroy or limit the functionality of any computer; (v) using any hardware or software intended to surreptitiously intercept or otherwise obtain any information (such as system data or personal information) from the website (including, but not limited to the use of any "scraping" or other data mining techniques, robots or similar data gathering and extraction tools); or (vi) any action that imposes or may impose (in the website's sole discretion) an unreasonable or disproportionately large load on the website's infrastructure, or damage or interfere with the proper working of the website's infrastructure.

4.13 The Website reserves the right to refuse or cancel any registration of its Users, remove any person from the website and prohibit any person from using the website for any reason whatsoever, and from limiting or terminate such access to or use of the website at any time without notice.

5.1 In case the Lender wishes to lend, the lender will have an option to select one or multiple Borrower's Profile to whom the Registered Lender wishes to lend from various Borrower's profile listed on the website.

5.2 The Lender agrees to offer the first loan within 30 (Thirty) days from the date of registration as a Lender.

5.3 Upon selecting the Borrower, the Registered Lender will transfer an amount equivalent to the amount that he/she wishes to lend ("Lending Amount") in the Escrow Account through his bank account using RTGS/NEFT.

5.4 Upon successful transfer of the Lending Amount to the Escrow Account, and once SKYRISE sights the funds in the Escrow Account, the Lending Amount will be reflected in the User's SKYRISE Account. This could take up to 4- 6 hours. If the Lender transfers funds using RTGS/NEFT after the cut-off time or on holiday, it will reflect in his SKYRISE Account on the next working day.

5.5 Upon selecting and confirming the Borrower's profile ("Selected Borrowers"), an amount equivalent to the amount which the Registered Lender wishes to lend to the Selected Borrowers will be debited User's SKYRISE Account.

5.6 The Lender and Borrower will sign the Loan Agreement.

5.7 The amount will be transferred to the Selected Borrower from the Escrow Account.

5.8 Charges and Fees: The website shall be entitled to charge the fees and charges: The facilitation fee will only be charged if lenders receive EMIs. SKYRISE may revise the rate of such charges from time to time. Any such changes will be updated to the lender via email and/or, SMS and/or push notification.

6.1 A Borrower can borrow from the website by posting a loan requirement through the website and completing the application process.

6.2 During the registration process, you must also enter the details of your bank account for the purposes of repayments due to the Lender.

6.3 By posting Loan Request, you agree:

• a) To provide us with certain additional information which we will ask you for, and that if we discover that this additional Information and/or the Information you gave us during the application process was inaccurate or deficient in any respect, then the Loan Request will be void and we have the right to take appropriate actions against the Users.
• b) To authorize us to check your credit rating from any of the Credit Information Bureau in India, which are required by us to assess the credibility of the repayments.
• c) User acknowledges that Credit Information Bureau links together the records of the User and anyone that the User has advised as a financial associate (e.g., someone with whom you have a joint credit account), including previous and subsequent names of parties to the account. While assessing the credibility of your repayments, we may take into account information about your financial associates in your credit reference.
• d) "I hereby give my free consent and authorize SKYRISE CREDIT & MARKETING LIMITED and its service provider by providing my personal information to obtain my Credit Information Report and Credit Score from Equifax Credit Information Services Pvt. Ltd. for the purpose of risk assessment and credit underwriting and not for any other purposes". This has to be confirmed by borrower before submitting the application for the loan.
• e) Any loan amount offered by any Lenders will be acceptable to the Borrower.

6.4 If so required by SKYRISE after considering the profile of the borrower, SKYRISE may request the borrower to arrange for a co-signor as a condition for disbursement of the loan. In case the Borrower fails to arrange for a co-signor, SKYRISE shall have the right to reject the loan request.

6.5 Formation of Loan Agreements:

• a) The Borrower agrees to accept each of the loan offers that meets your borrowing criteria.
• b) The Borrower agrees to sign and execute the loan agreements electronically or physically. In the case of multiple loan agreements, the website will provide you with a summary of the loan availed in the SKYRISE Account.

6.6 Disbursement of Loan Proceeds: upon execution of all the required documents and fulfilment of all conditions for disbursements, to the sole satisfaction of the Company, the borrowed amount will be credited to the account of the Borrower. The platform follows a rounding down approach during loan disbursement to the borrower for simplicity purposes. For e.g., if the disbursement amount after deduction of all charges and fees amounts to Rs. 9411.18, the disbursement amount will be Rs. 9,411, and Rs. 0.18 will be transferred to the platform as the adjustment amount.

7. Settlement of Payment

7.1 Any monies received from the Borrower, including delay charges or late fees or penal charges or any other applicable charges, shall be kept in the Escrow Accounts.

7.2 These will be recorded as a credit to the Lender's SKYRISE Account, which you can see by logging on to SKYRISE Account.

7.3 All the collected repayments will be transferred to Lender's SKYRISE account within 3 days of the receipt of the EMI from the borrower.

• (a) Lender will be notified when his SKYRISE account balance reflects received EMIs
• (b) The Lender can choose to withdraw funds from his SKYRISE account to his registered bank account by giving an instruction to SKYRISE. The Lender will not earn any interest on the funds lying in his SKYRISE account.
• (c) For instance, if a borrower is paying EMI on the 2nd of the month, the amount will be transferred to Lender's SKYRISE account by the 5th of the month, and Lender will not get any interest on such amount lying in his/her SKYRISE account
• (d) As a Borrower, you make your repayments due under loan agreements by direct debit to your bank account, which results in an initial credit and debit to your Loan Account on SKYRISE, and then credit in each relevant Lender's lending account. The repayment amount shall be rounded up to the nearest whole number, and the same shall be payable by the borrower.
• (e) While crediting the Lenders' account with EMI or applicable delay penal charges amount will be rounded off to two decimal places.
• (f) Once the loan EMI and applicable delay penal charges are distributed to lenders of that respective loans, the residual amount (if any), resulted due to rounding down of amounts to two decimals places, will be transferred to the platform as an adjustment amount.

8. Loan Administration

8.1 EMI: EMIs will start as per the date of the disbursement of the loan. The Lender will start earning interest after 5 days of his investment in the loan or from the day of disbursement of the loan, whichever is earlier.

8.2 Prepayment Terms: Any Borrower who wishes to prepay the loan can pre-pay the loan without any prepayment charges. For prepayment, please email us at info@skyrisefinance.com. In cases where at the time prepayment, the Borrower has already paid 3 (three) or more than 3 (three) EMIs, the Borrower, in addition to the outstanding principal amount, shall be liable to pay the outstanding interest up to the date of prepayment. However, in cases where the number of repaid EMI as on the date of prepayment is less than 3 (Three), the Borrower, along with the principal amount, needs to pay the interest amount of the first 3 EMIs.

8.3 Missed Repayments: In case a Borrower misses a repayment or anticipates that for any reason whatsoever, the Borrower will not be able to repay as per the repayment schedule under the Loan Agreement, then the Borrower should promptly contact the Company by sending an email to info@skyrisefinance.com.

8.4 Default Category: A Borrower shall be considered under the "default" category if either of the below events has occurred: (a) if he fails to pay the EMI for three consecutive months; (b) we receive confirmation that the Borrower has died; (c) the Borrower has entered into a terminal arrangement affecting the Borrower's Loan Agreements; (d) Other specific situations, which may arise at any point in time, the website will have a right to decide whether to classify any Loan Agreement under "Default" or not.

8.5 Repayment Date Changes: In case a Borrower wishes to change the repayment date, the Borrower may ask SKYRISE to change the Repayment Date by notifying SKYRISE. You can change your Repayment Date only once in 6 months. You will have to pay applicable charges on the same.

9.1 Once all your Loan Agreements are repaid, you may terminate your SKYRISE registration by sending us an email to info@skyrisefinance.com, and you will no longer be able to access the Lending Platform. However, we will continue to maintain records to the extent that we are required by law.

9.2 We may terminate the registration of the User if the User has provided false information, has breached the Terms of Use, has died, become bankrupt, failed to pay the loan, or it is categorized in the Default category on the website.

9.3 We may either terminate or suspend your registration immediately and without notice, if we are aware of reasonably suspect that you are engaged in, or maybe the victim of, any fraudulent activity or we find that you are spoiling the reputation of the website.

9.4 When we terminate your registration, you will not have access to your SKYRISE Account. However, this will not affect your obligation to repay the amount you have borrowed under a Loan Agreement.

10.1 Service Communications: We understand your concerns about not sending unnecessary calls, emails, or SMS to you. There are some messages ("Service Messages") that we will need to send you. These may be sent via email, post, call, or text message and include notifications at various stages of your loan or investment.

10.2 Occasional Updates: When you register on SKYRISE, you are offered the option to receive our occasional updates. These messages notify you about new features added on the Lending Platform, ask your opinion regarding various situations and services, and tell you about services you might not be using yet.

11. Use of Content

While using the website, the User specifically undertakes not to host, display, upload, modify, publish, transmit, update, or share any information or content that belongs to another person, is harmful, illegal, infringes on rights, or disrupts the website.

12. Intellectual Property Rights

12.1 All IPR on the Website exclusively belongs to either the website or the third-party sellers and suppliers, as the case may be. Under no circumstance shall any User infringe in any way such IPR of the Website.

12.2 The Parties hereto agree and confirm that no part of any IPR mentioned hereinabove is transferred in the name of User and any IPR arising as a result of these presents shall also be in the absolute ownership, possession and our control.

13. Indemnity

13.1 The User hereby indemnifies, defends, and holds harmless the entity owning and operating the website, its subsidiaries, affiliates, vendors, agents, and their respective directors, officers, employees, contractors, and agents from and against any and all losses, liabilities, claims, suits, proceedings, penalties, interests, damages, demands, costs and expenses.

14. Report Abuse and Take Down Policy

14.1 In the event the website or any User becomes aware of any objectionable content on the website, including but not limited to violation of privacy, misuse of personal information, or violation of any IPR, the website may take down such objectionable content from the website.

14.2 For any reporting in respect of the aforesaid, the User should contact the website at info@skyrisefinance.com

15. Feedback and Information

15.1 The Website reserves the right, at its sole discretion, to use such information for upgrading/enhancing the website, and such use shall be entirely unrestricted.

16. Applicable Law

These Terms of Use shall be governed by and interpreted and construed in accordance with the laws of India. The courts in Mumbai shall have exclusive jurisdiction in respect of any matters arising here.

17. Dispute Resolution

17.1 In the event any dispute arises out of or in connection with the Terms of Use herein, including the validity hereof, the parties hereto shall endeavour to settle such dispute amicably in the first instance. The attempt to bring about an amicable settlement shall be treated as having failed as soon as one of the parties hereto, after reasonable attempts, which shall continue for not less than 15 (Fifteen) calendar days, gives a notice to this effect, to the other party in writing.

17.2 In case of such failure, the dispute shall be referred to a sole arbitrator, who shall be appointed by the website. The arbitration proceedings shall be governed by the Indian Arbitration and Conciliation Act, 1996, and shall be held in Mumbai. The language of the arbitration shall be English.

18. Jurisdictional Issues

Unless otherwise specified, the products/items listed on the website are solely for the purpose of delivery in India. The website shall under no circumstance be held liable for use or availability of Products for use in locations/countries other than India.

19. Buyer Protection Program

19.1 If you want to make a complaint about the Loan Agreement or SKYRISE, you can email info@skyrisefinance.com with brief details of your complaint and your account reference. SKYRISE will acknowledge your complaint within one working day. SKYRISE will then investigate and send you an initial response within five working days.

20. General Provisions

20.1 Notice: All notices to be issued pursuant to these Terms of Use shall be served to the User by email or by general notification on the website.

20.2 Assignment: This Terms of Use shall not be assigned or otherwise transferred by the User. However, the website's obligations under these Terms of Use are freely assignable.

20.3 Severability: If any provision of these Terms of Use is void, or is so declared, such provision shall be severed. The Terms of Use shall otherwise remain in full force and effect.

20.4 Waiver: Any failure or delay by a party to enforce or exercise any provision of these Terms of Use, or any related right, shall not constitute a waiver by such party of that provision or right.

20.5 Relationship and Exclusivity: Nothing in these Terms of Use shall constitute or be deemed to constitute a partnership, joint venture, agency, or the like between the parties hereto.

20.6 Force Majeure: If performance of any service under these Terms of Use by the website is prevented, restricted, delayed or interfered with by reason of labor disputes, strikes, acts of God, floods, lightning, severe weather, shortages of materials, rationing, inducement of any virus, Trojan or other disruptive mechanisms, any event of hacking or illegal usage of the website, utility or communication failures, earthquakes, war, revolution, acts of terrorism, civil commotion, acts of public enemies, blockade, embargo or any law, order, proclamation, regulation, ordinance, demand or requirement having legal effect of any government or any judicial authority or representative of any such government, or any other act whatsoever, whether similar or dissimilar to those referred to in this clause, which are beyond the reasonable control of the website and could not have been prevented by reasonable precautions then the website shall in toto be excused and discharged from such performance to the extent of and during the period of such force majeure event.

21. Insurance for Loan or Borrower

21.1 This feature is currently not available. However, Lender and Borrower authorize the website to work with any insurance company registered with IRDA and ready to provide the beneficiary products.

21.2 For any such product, Borrower or Lender or Both choses to pay the premium amount to SKYRISE and then SKYRISE will pay the same to the insurance company on your behalf.

21.3 SKYRISE will be the nominee for this insurance policy and is authorized to manage the claim settlement process on your behalf.

21.4 In case your repayments are irregular or delayed on a consistent basis, SKYRISE reserves the right to cancel the insurance policy.

21.5 In case of any incident (permanent disability/accidental death of the Borrower), the beneficiary/nominee will need to intimate SKYRISE, who will then initiate the claims on the beneficiary/nominee's behalf.