Terms & Conditions
This section enlists Ecomworld Pay's Terms and conditions. Please read through this
carefully.
By accessing and browsing the website https://www.ecomworldpay.net/ of Golden Legand Leasing
and
Finance Limited and by signing up with Ecomworld Pay including but not limited to downloading
any content from the site or Installing any part of the Ecomworld Pay Service , you agree to
and accept the Terms and Conditions as set forth below.
This section shall govern the terms of use for payment gateway service of Golden Legand Leasing
and Finance Limited provided by Ecomworld Pay. This Terms and Conditions is a legal document
between You ("Sub Merchant"/ Merchant) and Golden Legand Leasing and Finance Limited ("Ecomworld Pay", "we", "our" or "us") governing your relationship with Ecomworld Pay. You (Sub
Merchant) and Ecomworld Pay are hereinafter individually referred as "Party" and collectively
referred to as "Parties".
The Ecomworld Pay website
https://www.ecomworldpay.net/ is copyrighted and
proprietary to Golden Legand Leasing and Finance Limited. Access is limited to authorized users
only. To become an authorized user, you must enter into an agreement with Golden Legand Leasing
and Finance Limited and obtain an identification code and password from Golden Legand Leasing
and Finance Limited for use solely by your entity and the employees, officers and directors of
your entity and solely to access the Ecomworld Pay® website and the Ecomworld Pay® mars
backend for purposes of compliance with your obligations set forth in the these Terms and
Agreement. Any use of your assigned identification code and password not expressly authorized
herein or distribution of the same is prohibited. All rights not expressly granted herein are
reserved by Golden Legand Leasing and Finance Limited.
These Terms and Conditions shall govern the terms of use of Ecomworld Pay Online Payment
Gateway Solutions ("Ecomworld Pay services") and collecting and transfer of amount collected
through online payments received through Ecomworld Pay service. In the event that all the
parties have agreed in writing that other terms and conditions shall apply, the latter terms and
conditions shall apply only for the specific arrangements for which they have been agreed.
These Terms and Conditions shall govern the terms of use of Ecomworld Pay Online Payment
Gateway Solutions ("Ecomworld Pay services") and collecting and transfer of amount collected
through online payments received through Ecomworld Pay service. In the event that all the
parties have agreed in writing that other terms and conditions shall apply, the latter terms and
conditions shall apply only for the specific arrangements for which they have been agreed.
We reserve the right, at our sole discretion to modify at any time the Terms and Conditions
without any prior written notice to you. Any modifications will be effective immediately upon
the date of posting of the modified Terms and Conditions on our website and you hereby waive any
right to receive additional notice of such changes or modifications. Your continued use of
Services following the posting of changes will mean that you accept and agree to the modified
terms and conditions; therefore it is your responsibility to review these Terms and conditions,
policies and guidelines as mentioned herein. If you do not agree to any of the amended terms or
the revised terms, you must stop using the services. Any use of the Services in violation of
these Terms and Conditions may result in among other things termination or suspension of your
right to use the Services. When you use any of the services provided by us, you will be subject
to rules, guidelines, policies, terms, and conditions applicable to such services, as may be
modified from time to time and they shall be deemed to be incorporated into this terms and
conditions and shall be considered as part and parcel of this terms and conditions. You are
solely responsible for firstly, understanding and secondly, complying with any and all laws,
rules and regulations that may be applicable to you in connection with your use of the Services.
These Terms and Conditions are the electronic record in terms of Information Technology Act,
2000 and its subsequent amendments. These terms and conditions are administered and governed by
the Laws of India and rules and guidelines set by Reserve Bank of India, Financial institutes,
Card Companies from time to time.
By either installing the services or using them or both, you further agree to accept the terms
mentioned in Privacy Policy and the Sub Merchant Agreement executed between the parties. You
must forward all the requisite documents and shall be required to enter in to Sub Merchant
Agreement with Ecomworld Pay for processing your Sub Merchant account. Ecomworld Pay will
not release any pay out to you unless the entire documentation process is complete. You are
aware that Ecomworld Pay is liable to comply with all the rules and guidelines set by RBI and
other financial institutes, hence you shall co-operate and provide all the necessary documents
as and when asked by Ecomworld Pay.
1. SCOPE OF SERVICE OF Ecomworld Pay:
- Ecomworld Pay has agreed to use the facilities that are offered through Internet by
various acquiring Banks and Financial Institutes, Card Companies, Online Payment Option
Providers, software providers and third-party service providers collectively known as
facility providers. Services here, include payment gateway services, electronic commerce
solutions, net banking facilities, and provides authorization and settlement facilities in
respect of payment instructions initiated by various customers of the sub-merchants on the
sub-merchant’s apps and websites. These facility providers allow Ecomworld Pay to use the
payment gateways developed by them to process all type of Online Payment Instruments and all
online transaction initiated on sub Merchants websites and apps.
- Ecomworld Pay is inter alia engaged in the business of offering e-commerce services,
which include bill presentments / payment and accepting instructions through the internet
with respect to payments made to the customers using valid Payment Instruments to purchase/
avail various products and services offered by Sub Merchant and accordingly transfer funds
from the Customer's bank account to the Sub Merchant's bank account.
- Ecomworld Pay has signed up with facility Providers for providing e-commerce services and
has requested them to accept the instructions given by customers of sub-merchant through a
valid online payment instrument and support Ecomworld Pay to facilitate the online
transactions and further direct and settle the proceeds of transactions from Customers bank
account to Ecomworld Pay's account and in turn to the sub-merchants bank account.
- Ecomworld Pay has also established a web-site with the domain name www.ecomworldpay.net ("the Site") to enable its Sub Merchant to link up with various payment gateways as
well as facility provider. This is to enable the Sub Merchant's customers to place orders
for purchase and pay for the goods and services through the Internet;
- We are desirous of passing on all these services to its appointed sub-merchants as more
particularly hereinafter provided on the terms and conditions hereinafter appearing and
subject to the sub-merchant thereby giving the indemnities and the declarations hereinafter
contained.
- Along with services mentioned herein; if required by Sub Merchant Ecomworld Pay shall
additionally provide Electronic Bill presentment and payment settlement under Bharat Bill
Payment System (BBPS) to the sub-merchant according to details listed in the Terms and
Conditions, here.
- The Sub Merchant shall be bound by the approval and registration process as per the set
process of Ecomworld Pay.
TERMS AND CONDITIONS:
-
DEFINITIONS:
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"Acquiring Bank" shall mean and enlist various banks and financial
institutions licensed under the Payment and Settlement Systems Act, 2007 to acquire,
authorize and authenticate the online payment
transactions.
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"Sub Merchant Agreement/ Agreement" shall mean this agreement, declaration
and indemnity and any and all tables, schedules, appendices, annexures and exhibits
to be executed between the Parties.
-
"Authentication" shall mean the process by which
the Customer’s identification is authenticated by
the Card Company/Acquiring Banks/ Payment Instrument
Provider.
-
"Authorization" shall mean the process hereunder by which the Issuing
Institution and/or the relevant Acquiring Banks/ Payment Instrument Provider Card
Company electronically or otherwise convey the approval of a transaction charge that
is undertaken by a customer on websites, app and web link.
-
"Card Company/ies" shall mean and include Master Card, Maestro, Visa,
Diners, American Express and NPCI etc. which authorizes and enables card
transactions.
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"Customer" means any person holding a Valid Payment Instrument and who
desires to purchase Services or Products from the Sub merchant and makes payment for
the same over the Internet on Ecomworld Pay’s Web site using a Payment
Instrument.
-
"Customer Order" shall mean a purchase order for goods or availing of
services provided by the Sub Merchant at the Sub Merchant’s Site and made by
the Customer at the Sub Merchant’s Site. The Customer Order shall be
designated by a unique Order Number on mention or use of which the details of the
order could be obtained by the Customer from the Sub Merchant on-line at the Site,
including without limitation details of the status of the order.
-
"Customer Charge" means
- Product - It means that the sale price of the Product purchased by the
Customer plus the shipping charge (if any) and all other taxes, duties,
costs, expenses and charges in respect of the Product that are to be charged
to the Customer’s Valid Credit Card/Debit Card/Bank Account or any
other payment mechanism.
- Services - It means that the sale price of the services rendered to the
Customer plus the all other taxes, duties, costs, charges and expenses that
are to be charged to the customer’s credit card, debit card, bank
account or any other payment mechanism.
-
"Delivery" means,
- In respect of a Product, delivery of the Product by a reputed courier
/parcel service to the Customer at the address specified by the Customer in
this behalf, or
- In respect of a Service, delivery/performance of the Service, proof of
which shall be submitted by the Sub Merchant to Ecomworld Pay
electronically through their Ecomworld Pay account backend to the
satisfaction of Ecomworld Pay and The Facility Providers. Ecomworld
Pay and The Facility Providers reserve the rights to call for physical proof
of delivery in respect of a Service, delivery/performance of the Service.
- "Effective Date" means the date of signing up/registering with Ecomworld Pay or by Clicking the Acceptance Button or Installing Any Part of The Service whichever earlier by the Sub Merchant.
- "Facility Providers" means various Acquiring Banks and Financial Institutes, Card Companies, Online Payment Option Providers, software providers, as well as third party service providers that participate in Authorization/ Authentication/ Facilitation of online payments. These facility providers allows Ecomworld Pay to use the internet payment gateways developed by them to process all type of Online Payment Instruments and all online transaction initiated by the customer on the sub merchants websites and apps.
- "Financial Institutes": means all bank and non-banking financial
institutes or any financial institute other than Acquiring Banks, Card Companies and
Payment Instrument providers that are authorized to participate as facilitator of an
online transaction.
- "Issuing Bank" in respect of a Customer, means the bank which has issued
the Valid Card and/or any other Payment option to the Customer with which Customer
makes the payment for the Products / Services.
- "Payment Instrument/s" means a valid payment instruments physical or
virtual, issued by an authorized Card Company, Financial Institute and any other
Payment Instrument Providers that enables the customer to purchase
sub-merchants’ products and services.
- "Payment Instrument Provider" shall mean any legal entity authorized to
issue online Payment Instruments such as wallet, prepaid cards etc. The term Payment
Instrument provider does not include Financial Institutions, Card Companies or
Acquiring Banks.
- "Product" means a tangible product that is manufactured or distributed by
the Sub merchants, and that is purchased by the Customer, the payment for which is
to be made on the Customer’s Valid Credit Card/Debit Card/Bank Account.
- "Proof of delivery" shall mean
- In respect of Product, sufficient legitimate records evidencing Delivery of the
Product to the customer. All proof of delivery of shall be maintained by the sub
merchant for a period of at least one year from the date of delivery by the Sub
Merchant and shall be open to inspection by Ecomworld Pay and the facility
providers at any time whatsoever.
- In respect of Service, sufficient legitimate records evidencing receipt of the
service to the customer. All proof of delivery shall be maintained by the
sub-merchant for at-least one year from the date of delivery by the sub- merchant
and shall be open to inspection by Ecomworld Pay and the facility providers at
any time whatsoever.
- "Payment Mechanism" way the entire processing and facilitation of on-line
payments with the aid of Ecomworld Pay with assist of the offerings of Facility
vendors, mechanism via the Internet utilising the Internet Banking facility; net
based digital commerce, net payment gateway of various Facility Providers and via
such other modes and mechanisms of payment and shipping as may be notified with the
aid of Ecomworld Pay once in a while.
- "Service" means tangible or intangible services provided to the customer
by the Sub Merchant the payment for which is to be made on the Customer’s
Valid Credit Card/Debit Card/Bank Account.
- "Transaction Discount Rate" way, the non-refundable charge charged to the
Sub Merchant by means of Ecomworld Pay at the transaction amount processed via
Ecomworld Pay price gateway machine and it includes the Merchant Discount Rate as
notified through the Reserve Bank of India, the Facility Providers every now and
then and the processing and other fees charged via Ecomworld Pay as its provider
prices from time to time. The Transaction Discount Rate is one-of-a-kind of GST
and/or any other Taxes as notified by means of the Government on occasion. The
Transaction Discount Rate that’s intimated/ communicated by manner of a
written electronic communication from Ecomworld Pay to the Sub Merchant shall be
binding on the Sub Merchant. However, the Transaction Discount Rate can be revised
quarterly by way of Ecomworld Pay.
- "Transaction" means delivery of the orders by the sub-merchant to the
customer of the Product(s) / Services in respect of which the Order was placed.
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"Ecomworld Pay Site" shall mean the web-site with the domain name
https://www.ecomworldpay.net
established by Ecomworld Pay for the purposes of enabling on-line trading
instructions by the Customers of the Sub Merchant to Ecomworld Pay.
-
"Sub Merchant’s Site" shall mean the web-site / mobile app/ web link
registered with Ecomworld Pay established by the Sub Merchant for the purposes of
enabling its Customers to place orders through the Internet.
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TERM; NON-EXCLUSIVE:
- Term: These terms and conditions shall become effective on the Effective
Date and shall remain in full force until a notice of termination by Ecomworld Pay or the Sub Merchant.
- Non-exclusive: Nothing in this phrases and conditions shall limit Ecomworld Pay from furnishing the offerings much like the ones furnished
underneath these Terms and Agreement to others, inclusive of competition of
the Sub Merchant.
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PAYMENT TERMS:
- Subject to the terms of this terms and conditions, Ecomworld Pay will
send to Sub Merchant’s Bank Account all customer charge from
Transactions taking place on Sub Merchant’s website using the Payment
Mechanism of Ecomworld Pay, minus any fees including TDR, invalidated
payments, chargebacks, refunds or any bank fees or penalty by banks for
excessive chargebacks or refunds, applicable taxes, any excess amount paid
to Sub Merchant and other amounts that the Sub Merchant owe to Ecomworld
Pay. If there are insufficient funds available in Sub Merchant’s
account, Ecomworld Pay shall claim from the Sub Merchant such amount to
the extent the funds are insufficient; which the Sub Merchant on receipt of
the claim undertakes forthwith to pay to Ecomworld Pay without any delay.
- Non-exclusive: Nothing in this phrases and conditions shall limit Ecomworld Pay from furnishing the offerings much like the ones furnished
underneath these Terms and Agreement to others, inclusive of competition of
the Sub Merchant.
-
Rejection of Payment Ecomworld Pay and the Facility
Providers may reject payment in respect of Orders where:
-
The Sub Merchant has not obtained a necessary
authorisation or Ecomworld Pay, the Facility
Providers and the Acquiring Banks are entitled to
reject payment in terms of Clauses hereof;
-
Any Order which the Customer refuses to pay because
the Product / Service was not as promised or was
defective or was not delivered;
-
The card-issuing bank advises that the credit card
number does not match any number on file;
-
Payment in respect of the Order or the relevant
instalment of the purchase price has already been
made;
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Any Products or services provided by the Sub Merchant
using Ecomworld Pays’ payment Mechanism
without prior written approval of Ecomworld Pay.
-
The Order was not confirmed by Sub Merchant within 12
calendar days from the date the Order was placed;
-
Any amount duly receivable by Ecomworld Pay from
Sub Merchant.
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Where Ecomworld Pay and the Facility Providers is
entitled to reject payments in respect of an Order or
demand a refund, Ecomworld Pay shall be entitled to set
off and deduct from any payment due to the Sub Merchant,
and in doing so Ecomworld Pay may:-
-
debit the Sub Merchants Account held with Ecomworld
Pay, forthwith; and/or;
-
deduct the outstanding amount from subsequent credits
to the Sub Merchants Account, and/or;
-
if there is insufficient funds available therein; claim from the Sub Merchant the amount paid to the Sub Merchant by Ecomworld Pay in respect of the relative sales;
which the Sub Merchant on receipt of the claim from Ecomworld Pay undertakes forthwith to pay to Ecomworld Pay, the amount of the refund to the extent to which such
funds proves inadequate; Payment of Customer charge in respect of an Order shall be made as per the TDR, Other charges and Payment schedule agreed by both the parties.
This has to be submitted in writing through electronic communication from time to time. The Customer charges to be paid in the in the bank account of the Sub Merchant
instructed by the sub merchant in writing and on receipt of proof of Delivery of the relevant Product / Service and Ecomworld Pay will deliver its payments to the Sub
Merchant as promptly after these dates as is practicable.
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Taxes: Each Party shall bear and pay respective Taxes as made applicable by the Government authorities from time to time. The covenants of sub-merchant to comply with all the compliances mandated under the Goods and Services Tax
(GST) as and when the same is implement by the relevant Government authority, including but not limited to filing valid tax return relating to its transactions with Ecomworld Pay. In case any credit, refund or other benefit
under GST is denied to Ecomworld Pay or is delayed due to any non-compliance by the Sub Merchant (such as failure to upload the details of Supply of Goods/service on the GSTN portal, failure to pay GST to the Government, lower
compliance rating etc.) or due to non-furnishing or furnishing of incorrect or incomplete documents by the Sub Merchant with the Government or Ecomworld Pay , the Sub Merchant agrees to indemnify, defend and hold harmless Ecomworld Pay and reimburse Ecomworld Pay for the loss including ,but not limited to, the tax loss, interest, penalty, reasonable costs or expenses of any nature whatsoever, whether accrued, absolute, contingent or otherwise. This is including, without limitation,
reasonable attorneys’ fees and costs (whether or not
a suit is filed).
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Sub Merchant’s minimal deposit account stability (If
applicable): It is mutually agreed by means of the Sub Merchant and Ecomworld Pay, that Ecomworld Pay may keep a minimum amount "Reserve Deposit Amount" out of quantities payable to the Sub Merchant in phrases of Clause three hereof. The Sub Merchant is of the same opinion that Ecomworld Pay will impose Transaction Limits or extra Reserve Deposit Amounts, both briefly or completely, that are more restrictive than limits placed
at the Sub Merchants that allows you to lessen Ecomworld Pay’s affordable apprehension of hazard of
loss underneath varying situations.
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COVENANTS AND REPRESENTATIONS OF THE SUB MERCHANT:
-
Ecomworld Pay and the Facility Providers shall not
be a party to the Agreement or dispute between the
Customers and the Sub Merchant. In the event of any dispute between the customer and the sub-merchant, whether in relation to any deficient, improper or incomplete service provided by the Sub Merchant or otherwise, Ecomworld Pay and the Facility Providers shall not be made a party to any litigation, arbitration or other proceeding instituted in respect of such disputes.
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The Sub Merchant undertakes to make timely payments of
all the monies, charges, and chargeback amounts,
refund amount duly payable to Ecomworld Pay as and
when demanded by Ecomworld Pay. Sub Merchant also
undertakes to payback any amount received in excess or
erroneously from Ecomworld Pay within 7 (Seven)
days of receipt of claim from Ecomworld Pay without
any delay, demur or protest.
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The Sub Merchant assures and guarantees to Ecomworld Pay and the Facility Providers that the Sub
Merchant is acting in compliance with and shall at
all-time act in compliance with all laws, rules and
regulations, notification, and guidelines set by RBI/
Ecomworld Pay, Acquiring Banks, Card Companies i.e.
Master Card, Visa, American Express Card etc and the
Facility Providers and further assures and guarantees that the products and services mentioned on Ecomworld Pay website at link
https://www.ecomworldpay.net/
shall not be sold on the Sub Merchants site using
services of Ecomworld Pay. Any product or service
which is not in compliance with the laws and regulations of the national and international bodies
shall not be offered by the Sub Merchant to its
customers through the services of Ecomworld Pay.
-
The Sub Merchant further confirms, undertakes and
assures that in the event of violation of any of the
byelaws and standards of RBI, Acquiring Banks, Card
Companies i.e. Master Card, Visa, American Express
Card etc , the Facility Providers and Ecomworld Pay
by the Sub Merchant AND any penalty or charge imposed
by the RBI, Acquiring Banks, Card Companies i.e.
Master Card, Visa, American Express Card etc and the
Facility Providers on Ecomworld Pay for any
violation or for any reason whatsoever, the Sub
Merchant shall on receipt of the claim from Ecomworld Pay undertakes forthwith without any demur,
protest, dispute or delay, to pay to Ecomworld Pay,
the amount of the penalty / fine imposed by the
Facility Providers on Ecomworld Pay
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The Sub Merchant shall not at any time require the
Customer to provide the Sub Merchant with any details
of the accounts held by them with the Issuing Banks or Payment Instrument Provider including, the passwords, account number, card numbers and PIN which may be assigned to them by the Issuing Banks or Payment
Instrument Provider from time to time.
-
In the event of any inconsistency between any
provision of these terms and conditions and the
standards set out by Facility Providers, the standards shall govern
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The Sub Merchant is aware that Ecomworld Pay and
the Facility Providers are not guaranteeing any
transactions with the Customers in any manner
whatsoever.
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The Sub Merchant shall use Ecomworld Pay’s
services and other facilities offered on Ecomworld Pay’s site only for the Sub Merchant’s web-site/ mobile app/ web link as registered with Ecomworld Pay and for no other site/s. The Sub
Merchant shall use Ecomworld Pay Payment Gateway services only for products and services mentioned in approved by Ecomworld Pay and for no other products or services. In case of any deviation from the services without prior written approval of Ecomworld Pay, the Sub Merchant undertakes to be abiding by the decisions of Ecomworld Pay including
suspension of the pay out or refund to customer or
termination of Ecomworld Pay services.
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The Sub Merchant acknowledges that the Facility Providers and Ecomworld Pay have the right to enforce any provision of the standards and to prohibit any Sub Merchant conduct that may injure or may create
a risk of injury to the Facility Providers and Ecomworld Pay including injury to reputation, or that may
adversely affect the integrity of the Facility
Providers and Ecomworld Pay’s core payment
systems, information or both. The Sub Merchant agrees that he will not take any action that might interfere
with or prevent exercise of this right by the Facility
Providers and Ecomworld Pay.
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The Sub Merchant shall take all precautions as may be
feasible or as may be directed by Ecomworld Pay and
the Facility Providers to ensure that there is no
breach of security and that the integrity of the link
between the Sub Merchants Site, Ecomworld
Pay’s site and the Payment Mechanism is
maintained at all times. In the event of any loss
which may be due to a link breach or due to the link
being improper / in violation of the provisions of
this clause, the loss shall be to the account of the
Sub Merchant and the Sub Merchant shall indemnify and
keep indemnified Ecomworld Pay and the Facility
Providers from any loss as may be caused in this
regard.
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The Sub Merchant herby grants to Ecomworld Pay and
the Facility providers, a non-exclusive, royalty-free,
limited license to use, display and reproduce the
trademarks, service marks and sub-merchant logos
solely in connection with the marketing of their
services to the public. The Sub Merchant shall
prominently display on its Website and in other online
marketing materials if applicable, a
statement/logo/image provided by Ecomworld Pay and
or upon instructions of facility Provider.
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The Sub Merchant represent and warrant to Ecomworld
Pay and the Facility providers that: (a) Sub Merchant
is duly organized, validly existing and in good
standing under the Laws of the territory in which its
business is registered, and a resident of India for
income tax purposes; (b) Sub Merchant has all
requisite license. Registrations, right, power and
authority in full force to avail Ecomworld Pay
services and perform its obligations and grant the
rights, licenses and authorizations hereunder; and (c)
Sub Merchant and its subcontractors, agents and
suppliers will comply with all applicable Laws in the
performance of its obligations and exercise of the
rights under these terms and conditions.
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The Sub Merchant states that the individual
signing/registering/ accepting by clicking the
Acceptance Button of this terms and conditions is an
authorized representative of the Sub Merchant and is
thereby completely authorized to bind the sub merchant
to the contracts. They are also authorized to provide
the information and documentation submitted in
connection with the agreement to be executed between
the parties are complete and correct in all material
respects. Sub Merchant authorizes Ecomworld Pay to
obtain and verify, and to continue to obtain and
verify any information submitted by Sub Merchant any
relevant information regarding principals, partners,
officers or other authorised representatives of Sub
merchant and any other individuals listed by Sub
Merchant, and for Ecomworld Pay use such
information as reasonably necessary during the course
of providing the services contemplated here under as
well as for Ecomworld Pay to share such information
with its affiliates or as otherwise allowed by
applicable law.
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If the Sub Merchant is providing the online payment
gateway services or services similar to online Payment
Gateways or is going store the confidential data of
customers on sub merchants website then the
sub-merchant shall be PCIDSS certified and shall
continue to be certified as per the required
regulations with respect to the security obligations
pertaining to Ecomworld Pay Services provided by
Ecomworld Pay. The sub-merchant hereby undertakes
and agrees it shall not store any confidential
information of the Customers such as card details
customer confidential details etc if it is not PCIDSS
certified and shall further indemnify Ecomworld Pay
in case of any claim, proceeding, loss or liability
arising due to non-compliance of the same.
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The Sub merchant undertakes to be abided by the Master
Card Rules all the time, the detailed manual of the
rules can be referred from the link:
(http://www.mastercard.com/us/merchant/pdf/BM-Entire_Manual_public.pdf)
this link is subject to change as per the amendments
made in manual of Master card, uploaded from time to
time. Important sections of the master card rules
include the following:
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On an on-going basis, the Sub merchant to promptly
provide Ecomworld Pay with the current address
of each of its offices, all "doing business
as" (DBA) names with a complete list and
description of services and products sold.
-
In the event of any inconsistency between any
provisions of the Sub merchant Agreement executed
between the Parties and the Standards (i.e. the
Manual), the Standards (the Manual) will govern.
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Ecomworld Pay may require the sub
merchant’s website to carry out changes that
it deems necessary or appropriate to ensure that
the Sub merchant remains in compliance with the
Standards governing the use of the Marks.
-
The Sub Merchant Agreement automatically and
immediately stand terminated if the Master Card
Corporation de-registers Ecomworld Pay or if
the Facility providers ceases to be a customer for
any reason.
-
Ecomworld Pay may, at its discretion or at the
direction of its Facility providers, immediately
terminate the Sub merchant Agreement for activity
deemed to be fraudulent or otherwise wrongful by
Ecomworld Pay, and Facility providers.
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The Sub merchant acknowledges and agrees:
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To comply with all applicable Standards, as
amended from time to time;
-
That the Master Card Corporation is the sole
and exclusive owner of the Master Card Marks;
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To not contest the ownership of the Master
Card corporation (Marks) for any reason;
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The Master Card Corporation may at any time,
immediately and without advance notice,
prohibit the Sub merchant from using any of
the Master card Marks for any reason;
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The Master Card Corporation has the right to
enforce any provision of the Standards and to
prohibit the Sub merchant and/or its Payment
Facilitator from engaging in any conduct the
corporation deems could create a risk of
injury to the Master Card Corporation. This
includes injury to reputation, or that could
adversely affect the integrity of the
Interchange System, the Corporation’s
Confidential Information as defined in the
Standards, or both; and
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The Sub merchant will not take any action that
could interfere with or prevent the exercise
of this right by the Corporation.
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The Sub Merchant undertakes to be abiding by the rules
and regulations formed by the governing authority in
respect of the Anti-Money Laundering Act 2002,
Information Technology Act 2000 and subsequent
Amendments incorporated thereon.
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The Sub Merchant hereby undertakes that, all the
representations made herein are true and valid as
per law of India. The Sub Merchant represent that
the Sub Merchant holds valid licenses, brand
proofs, tie-up agreements from its business
Associates and the Sub Merchant is legally
authorised to sale the services and the products.
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The Sub Merchant upon change in details shall
provide supporting documents to Ecomworld Pay.
The Sub Merchant shall provide the KYC documents
to Merchant on an interval of one year.
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The Sub Merchant shall keep updated on its website
all the Policies including but not limited to
Privacy Policy, Refund and Return Policies,
Chargeback Policy (I accept Policy).
5. DATA PROTECTION:
-
All the data processed in respect of the Ecomworld Pay services are subject to the data
Privacy Regulations under applicable laws. Sub
Merchant and Ecomworld Pay shall be subject to
and will comply with the Information Technology
Act, 2000 and the Information Technology General
Data Protection Regulation (GDPR) (EU) 2016/679 as
amended from time to time, (Reasonable Security
Practices and Procedures and Sensitive Personal
Data or Information) Rules, 2011. Also inclusive
are any other applicable Laws restricting
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Ecomworld Pay employees, contractors or agents
may, in connection with the services provided by
Ecomworld Pay collect Personal Information in
relation to Sub Merchant (including Sub Merchant
Customers, employees and directors) Ecomworld
Pay may process, use and disclose, transfer and
store the Sub Merchants customers personal
information for purposes connected with the Ecomworld Pay services and otherwise for the purposes
of its legitimate business and business operations
or as required by law.
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Insofar as information provided, or to be
provided, by Sub Merchant to Ecomworld Pay
includes the Personal Information of customers,
Sub Merchant represents and warrants that it has
obtained prior informed consent in writing from
each customer to whom any Personal Information
relates to, in order for Ecomworld Pay to
comply with applicable data privacy regulations
and which allows Ecomworld Pay to collect, use,
disclose, process, transfer and store such
information for the purposes specified in these
terms and conditions, including in the
circumstances described above, and will provide
Ecomworld Pay with such consent as and when
requested by Ecomworld Pay.
FAIR USE OF Ecomworld Pay SERVICES:
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The Sub Merchant shall use the services of Ecomworld Pay only for the purpose of receiving
online payments against the products/ services
approved by Ecomworld Pay. Using the services
of Ecomworld Pay for any other purpose shall
entitle Ecomworld Pay to take appropriate legal
action and/or charge penalty suspend all the
pay-outs to the Sub Merchant.
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The Sub Merchant shall not misuse the services of
Ecomworld Pay for illegal gains including but
not limited to illicit use of Credit Cards.
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The Sub Merchant in case of any fraud or ill
intentional transaction by customer shall
cooperate with Ecomworld Pay and forward all
necessary transaction and customer details to
Ecomworld Pay at the earliest.
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The Sub Merchant data related to transactions
taking place through Ecomworld Pays’
payment gateway services shall be stored by Ecomworld Pay for a maximum period of one year from
the date of transaction. Post completion of this
one year the data will automatically get deleted
from Ecomworld Pays’ database. Ecomworld Pay shall not be liable to produce the data
that is older than one year.
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Breach by Sub Merchant: If Ecomworld Pay, the
Facility Providers suspects, on reasonable ground,
that the Sub Merchant has committed a breach of
these terms and conditions or agreement or
dishonestly or fraud against Ecomworld Pay, the
Facility Providers, or any customer, Ecomworld
Pay shall be entitled to suspend all payment to
the Sub Merchant pending enquiries by Ecomworld
Pay. Ecomworld Pay shall not be liable to pay
any interest upon the suspended pay-outs during or
after the pendency of the inquiry. Ecomworld
Pay reserve right to charge appropriate penalty to
the Sub Merchant in case of breach of terms of
these terms and conditions or agreement. Ecomworld Pay may adjust such penalty amount from the
next pay out of Customer Charge. In the event of
no balance in the Sub Merchant account, the Sub
Merchant shall make the payment of such penalty
amount; failure to make payment of the Penalty
amount will result in an interest over the
penalty. Breach by Customer: in case the Customer
of Sub Merchant commits fraud against the Sub
Merchant using Ecomworld Pay’s services,
Ecomworld Pay in such cases shall be entitled
to suspend the pay-outs of the disputed amount
till the issue is resolved between Sub Merchant
and Customer. Ecomworld Pay shall not be liable
to pay any interest upon the suspended pay-outs
during or after the pendency of the inquiry
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Authorisations: The Sub Merchant shall obtain
authorisation from Ecomworld Pay, before
accepting any Customer Order. This process of
Authorisation is an automated real-time process.
7. CHARGEBACK AND REFUND:
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The Sub Merchant agrees that payment made in
respect of any Customer Order, in respect of which
the Customer or Issuing Bank raises a claim,
demand, dispute or chargeback on Ecomworld Pay
or the Facility Providers for any reason
whatsoever or in case of refund initiated by the
Sub Merchant shall be the financial responsibility
of the Sub Merchant. The chargeback or refund
shall be processed as per the set processes of
Facility Providers and Ecomworld Pay. Once the
chargeback is received and the sub merchant is
ordered to make payment of the chargeback amount
or in case of refund once the refund requested is
initiated by the Sub Merchant, the Sub Merchant
shall make the payment of the chargeback/ refund
amount as the case may be without any demur or
protest, dispute or delay. The Sub Merchant shall
make payment of chargeback amount within 48 hours
from the time of receiving the request for making
payment of chargeback and or in case of refund
immediately at time of initiating the refund. The
Sub Merchant hereby agrees that all refunds and
chargebacks shall be the sole responsibility of
the Sub Merchant and Ecomworld Pay shall not be
liable for any claims or disputes. The Sub
Merchant agrees to indemnify Ecomworld Pay in
respect of any claims, disputes, penalties, cost
and expenses arising directly or indirectly in
relation to refunds or chargebacks.
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If Ecomworld Pay and/or the Facility Providers
determine that the Sub Merchant and/or its
business associates registered with Ecomworld
Pay are incurring an excessive amount of
Chargebacks or refunds, Ecomworld Pay may
establish controls or conditions governing the
Transactions contemplated under these terms and
conditions, including without limitation, by (a)
establishing new processing fees, (b) by
requesting a reserve in an amount reasonably
determined by Ecomworld Pay to cover
anticipated Chargebacks and refunds (c) by asking
the Sub Merchant to first make payment of the
chargeback amount / refund amount and then only
process the chargeback and refund request.(d)
delaying or suspending pay-outs to Sub Merchant,
(e) block the refund or refuse to process (f)
adjusting the chargeback and refund amount from
the Customer Charge payable to Sub Merchant and
(g) imposing penalty amount if any charged by
Facility Providers (h) charge interest over the
chargeback and refund amount (i) terminating or
suspending Ecomworld Pay Services.
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The Sub Merchant hereby authorises Ecomworld
Pay to appropriate the Sub Merchant’s
current balance amounts with Ecomworld Pay to
the extent of the aforesaid chargeback and refund
and any other moneys due to Ecomworld Pay by
the Sub Merchant. If there is insufficient funds
available therein; the Sub merchant shall within
48 (Forty eight ) hours of finding out negative
balance or insufficient balance in his Merchant
Accounting and Reporting System (M.A.R.S)
Interface and/or on receipt of the e-mail from
Ecomworld Pay and/ or claim from Ecomworld
Pay undertakes forthwith without any demur,
protest, dispute or delay, to pay to Ecomworld
Pay, the amount of the chargeback/dispute / refund
to the extent to which such funds proves
inadequate. Without prejudice to any other of
Ecomworld Pays rights and remedies, in the
event that the Sub Merchant does not make any
payment to Ecomworld Pay by its due time
(within48 hours) or on demand as required by Ecomworld Pay. Ecomworld Pay shall be entitled to
charge interest on such overdue amount upon
completion of the said 48 hours (as the case may
be) until the date of payment in full, at the rate
of 2-4 % per month, solely as per Ecomworld
Pay’s discretion. It is agreed that any
claim or dispute arising out of non-payment of
refund / insufficient balance shall be the
absolute liability of the Sub Merchant AND the Sub
Merchant hereby indemnifies Ecomworld Pay, and
the Facility Providers against any claims, dispute
initiated by any Customers/ Facility Provider or
any third party / Authority enforced on Ecomworld Pay, banks/card companies/payment service
provider etc. for the non-refund of such
transactions.
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Credit Facility on refunds: Since the Sub Merchant
will not be allowed to initiate refunds of amount
greater than the balance amount held with Ecomworld Pay; The Sub Merchant may face refund
related issues from the Customers such as,
"the refunds were blocked by Ecomworld Pay
due to insufficient or no balance amount in Sub
Merchant account held with Ecomworld Pay".
In order to avoid such refund issues and to
continue the smooth refund process, the Sub
Merchant may avail the credit facility on refunds
where in Ecomworld Pay at its sole discretion
may allow the Sub Merchant to initiate refunds of
amount greater than the balance amount available
with Ecomworld Pay. To avail the Credit
facility the Sub Merchant shall give separate
written instructions to Ecomworld Pay, Ecomworld Pay on its sole discretion may grant the
Credit Facility on refund to the Sub Merchant. The
Sub Merchant agree that the repayment of credit
facility on refund shall be governed by all the
sub clauses (i), (ii) and (iii) above and also by
the special terms and conditions formed by Ecomworld Pay for credit facility on refund.
8. INDEMNITY:
-
The Sub Merchant hereby undertakes and agrees to
indemnify, defend and hold harmless Ecomworld
Pay and the Facility Providers including their
officers, directors and agents from and against
all actions, proceedings, claims (including third
party claims), liabilities (including statutory
liability), penalties, demands and costs
(including without limitation, legal costs),
awards, damages, losses and/or expenses however
arising directly or indirectly which is not
limited to but is inclusive as a result of:
-
Breach or non-performance by the Sub Merchant
of any of its undertakings, warranties,
covenants, declarations or obligations under
these terms and conditions;
-
Breach of confidentiality and intellectual
property rights obligations by the Sub
Merchant;
-
Any claim or proceeding brought by the
Customer or any third party against Ecomworld Pay and/or the Acquiring Banks in
respect of any Products or Services offered by
the Merchant;
-
Any act, deed, negligence, omission,
misrepresentation, default, misconduct,
non-performance or fraud by the Sub Merchant,
its employees, contractors, agents, Customers
or any third party;
-
Chargebacks or refunds relating to the
Transactions; and incapacity of Sub Merchant
to make payment against the chargeback/
refunds or any amount due payable to Ecomworld Pay;
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Breach of law, rules regulations, legal
requirements (including RBI regulations,
Facility Providers rules) in force in India
and/or in any place from where the Customers
is making the Transaction or where the Product
is to be delivered; or
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Any fines, penalties or interest imposed
directly or indirectly on Ecomworld Pay on
account of Sub Merchant t’s or
Transactions conducted through the Sub
Merchant under these Terms and Conditions.
-
The indemnities provided herein shall survive
the termination of Ecomworld Pay Services.
9. WARRANTY
-
Ecomworld Pay and the Facility Providers
disclaims all warranties, express or implied,
written or oral, including but not limited to
warranties of merchantability and fitness for a
particular purpose. The Sub Merchant acknowledges
that Ecomworld Pay and the Facility Providers
may not be uninterrupted or error free. The Sub
Merchant also acknowledges that the services
provided by the facility providers to Ecomworld
Pay which is passed on to the Sub Merchant, can be
in any event brought to an abrupt for any reason
whatsoever.
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Ecomworld Pay’s sole obligation and the
Sub Merchant’s sole and exclusive remedy in
the event of interruption to the Services or loss
of use and/or access to Ecomworld Pay’s
Site, and the facility Providers facilities, shall
be to use all reasonable endeavours to restore the
services and/or access to the payment mechanism as
soon as reasonably possible.
-
In case if the Sub Merchant’s customer
raises a claim on any of Ecomworld Pay or the
Facility Providers, the Sub Merchant shall release
Ecomworld Pay (and its directors, employees,
compliance officers, agents and affiliates) from
claims, demands and damages (actual and
consequential) of every kind that is suspected and
unsuspected, arising out of or in any way
connected with such claims or disputes.
-
Ecomworld Pay, and the Facility Providers shall
not be liable to the Sub Merchant for any loss or
damage whatsoever or howsoever caused arising
directly or indirectly in connection with Ecomworld Pay’s site and services, and the
facility provider’s facilities.
10. TERMINATION:
-
Immediate Termination:
-
Termination for Breach: - Either Party may
terminate these Terms and Agreement with
immediate effect if the other Party commits
any breach of the terms.
-
Termination in Case of Violation of Law:- In
addition to any other termination rights,
Ecomworld Pay may terminate these Terms and
Agreement immediately without liability upon
verbal or written notice if (i) Ecomworld
Pay or the Facility Providers is notified or
otherwise determines in good faith that the
Sub Merchant or is using Ecomworld Pays
services and facilities in furtherance of any
activity which violates any law, rule, or
regulation or (ii) Ecomworld Pay, or the
Facility Providers or any of their directors,
officers, employees or stockholders are made
the subject of civil / criminal action or
investigation or are threatened by such action
as a consequence of use of the Facility or
services by the Sub Merchant. (iii) If
Facility Providers de-registers the Sub
Merchant.
-
Termination for Disruption: If any program or
facility used by Ecomworld Pay to implement
this Agreement is disrupted or terminated by
the Facility Provider for any reason Ecomworld Pay may terminate this agreement
immediately.
-
Termination by notice: - In addition to any other
termination rights, either Party may terminate
these Terms and Agreement on 30-days written
notice to the other.
-
Termination for non-use:- Ecomworld Pay may
terminate these Terms and Agreement, if the Sub
Merchant fails or neglects to use the facilities
and services of Ecomworld Pay and the acquiring
Banks for a continuous period of 180 days.
-
Withholding of charge on termination: - In the
event that either of the Parties serve a notice of
termination of these Terms and Agreement on the
other party, Ecomworld Pay shall be entitled to
withhold for a period of 210 days from the date of
such notice, 40 % of amounts payable to the Sub
Merchant in terms of Clause 3 in respect of each
Customer Charge arising after the date of such
notice. In the event that Ecomworld Pay
terminates this Agreement as a result of breach of
any of the terms of this Agreement by the Sub
Merchant, Ecomworld Pay shall be entitled to
withhold for a period of 210 days from the date of
such breach 100 % of amounts payable to the Sub
Merchant according to the Clause 3 terms of this
Agreement in respect of each Customer Charge
arising after the date of such breach.
11. INTELLECTUAL PROPERTY:
Each party i.e. the sub-merchants and Ecomworld Pay shall
retain all ownership rights, title, and interest in and to its
own products and services and all intellectual Property Rights
therein, subject only to the rights and licenses specifically
granted in writing.
12. FORCE MAJEURE:
Ecomworld Pay and the Facility Providers shall not be liable
for any failure to perform any of its obligations under these
Terms and Agreement if the performance is prevented or hindered
by a Force Majeure Event (defined below).
13. SUB - ID CREATION
In case of addition of Business Associate/s, Business
Associate" shall mean entity/Merchant referred or
on-boarded by the Sub Merchant as per the terms and conditions
and Agreement through a mandate letter the Sub Merchant shall
give written instructions to Ecomworld Pay in the format as
specified by Ecomworld Pay from time to time. Following terms
should additionally apply to the arrangement of creating any
sub- Id. The Sub Merchant will be allotted a main Merchant ID
(MID) by Ecomworld Pay. Through the agreement executed
between the parties, the Sub Merchant will be able to enable the
Business Associates to receive online payments from the end
customers. For the said purpose Ecomworld Pay has agreed to
create sub- IDs for the Business associates of the Sub Merchant.
The addition of any new Business associates shall be intimated
by Sub Merchant to Ecomworld Pay in the format specified by
Ecomworld Pay. Ecomworld Pay shall make the pay-out of the
Customer Charge after due deductions to the designated Bank
account of the Sub Merchant or the Business Associate as
directed by the Sub Merchant in writing. The Sub Merchant will
provide the necessary documents of such business associates as
per the requirements of Ecomworld Pay. The Parties have
agreed that all the terms and conditions, warranties, covenants
addressed to Sub Merchant herein shall be equally applicable to
the Business associates of the Sub Merchant. Any default,
chargeback, refund, claim observed or received on Business
Associates’ MID shall be the responsibility of the Sub
Merchant. The Sub Merchant here by indemnify Ecomworld Pay
for the acts and omissions of the business Associates. To avail
the facility of Sub- IDs the Sub Merchant must intimate Ecomworld Pay in writing, Ecomworld Pay reserves right to
approve or reject the onboarding of Business Associate.
Termination of this these Terms and Agreement will automatically
terminate all the sub-ids.
14. GENERAL PROVISIONS:
-
Jurisdiction and governing law: The laws of India only and no other nation shall govern these Terms and Agreement. The
Parties involved here will agree to submit to the exclusive jurisdiction of the Courts located in Mumbai, India as regards
any claims or matters arising under or in relation to these
terms and conditions.
-
Disclosure of information: Ecomworld Pay will be entitled
at any time to disclose information concerning the Sub
Merchant to any authorised assignee, Facility Providers or to
its own employees or directors basis in connection with the
Payment Gateway Mechanism facilities provided by Ecomworld
Pay. This clause shall survive the termination of these Terms
and Agreement. The Sub Merchant shall not, without the prior
written consent of Ecomworld Pay, the Facility Providers,
disclose the identity of any Customer who has entered into a
Transaction or any information whatsoever relating to any
Transactions to any other person or otherwise use any
information acquired by it in relation to such Customers other
than for the purposes of this these Terms and Agreement except
where (i) information already known or independently developed
by the recipient prior to or independent of the disclosure;
(ii) information in the public domain through no wrongful act
of the recipient, (iii) information received by the recipient
from a third party who was not under any legal impediment to
disclose it, (iv) information required to be disclosed by any
order of a court or regulatory authority of competent
jurisdiction to the extent specified in the order.
-
The individual accepting this terms and conditions certifies
that he/she is an authorized principal, partner, officer, or
other authorized representative of Sub Merchant, is thereby
fully authorized to bind Merchant to contractual obligations
and is authorized to provide the information contained in this
Application. The authrorised signatory of this Application
also certifies that all information and documentation
submitted in connection with this Application are complete and
correct in all material respects. Sub Merchant authorizes
Ecomworld Pay to obtain and verify, and to continue to
obtain and verify, any information submitted in this
Application, including banking information, financial credit,
or other information about Merchant, any relevant information
regarding principals, partners, officers, or other authorized
representatives of Merchant, and any other individuals listed
on this Application, including the individual signing below,
and for Ecomworld Pay to use such information as reasonably
necessary during the course of providing the services
contemplated here under as well as for Ecomworld Pay to
share information with its affiliates as allowed by applicable
law.
-
Notices
-
Any notice, direction or instruction given under this
these Terms and Agreement to Ecomworld Pay shall be in
writing and delivered by hand, post, cable, facsimile or
telex to 506, Shri Ramkrishna Chambers, Plot No 67B, TPS -
IV, Linking Road, Khar (W), Mumbai - 400052, Maharashtra,
India
-
Notice will be deemed given: In the case of hand delivery
or registered mail or e-mail or overnight courier upon
written acknowledgement of receipt by an officer or other
authorized employee or representative of the receiving
party;
-
Nothing in the aforesaid clauses shall affect any
communication given by way of the internet or other
electronic medium as otherwise provided in this these
Terms and Agreement for the purpose of rendering the
services.
15. ARBITRATION:
The parties will endeavour to settle amicably by mutual
discussion any disputes, differences or claims whatsoever
related to these Terms and Agreement. If amicable settlement is
failed, then the dispute shall be settled by arbitration. The
Arbitration and Conciliation Act 1996 (and any subsequent
amendment to this act) shall govern the arbitration proceedings.
The arbitration shall be held in Mumbai, India. The arbitration
language shall be English and the arbitration proceedings will
be held before the sole Arbitrator appointed by mutual consent
of both the parties. Any arbitration award will be final and
binding on the parties, and judgment there on may be entered in
any court of competent jurisdiction. These Terms and Agreement
(including its jurisdiction clause) shall be governed by,
construed and take effect in accordance with the laws of India.
The court and courts of Mumbai shall alone have jurisdiction in
all matters.
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