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The above terms also extends to advisors and third party service providers who empanel on myMoneySage to offer services to users on myMoneySage.
The Agreement between Shreem Datatech Solutions Pvt Ltd (The Company) and (“Business Partners”) shall be exclusively on ‘Principal to principal’ basis, In no event, the relationship between the Company and the Business Partners should be construed as that of the Principal and Agent and that of Employer and the Employee as there is no such intention to create such kinds of relationship. (Hereinafter referred to as “Agreement”)
At no point in time, the Business Partners shall accept any cash or cash equivalent from any of its client in respect of transaction executed under this agreement.
Empanelment and payment of commission to BP shall be in accordance with the internal parameters as mutually agreed between the Company and BP. Further, Company reserves right to withhold the pay out of commission and to suspend further business with BP in case of noncompliance on the part of BP of any of the terms and conditions specified in this Agreement or any of the provisions of law for the time being in force till the time BP rectifies the noncompliance or complies with the internal parameters of the Company.
In case BP receives any amount from the Company which is not due or payable to the BP, Company shall be entitled to recover or adjust in future bills all such amount wrongly paid to the company without any intimation to BP.
Income tax, if any at the rates prescribed under the Income Tax Act, 1961 shall be deducted from the payments to be made to BP. Any other statutory liabilities, such as service tax / VAT / other taxes as are applicable, as may be decided by Central / State Government from time to time shall be paid by BP.
SDSPL will not communicate directly to clients of advisors unless the advisor approves that communication.
BP shall at no point of time engage in any illegal or unethical practices, means, etc.
BP shall read and understand the terms and conditions of the different products offered by / through the company carefully and explain the market risks, investment risks, investment objectives and the special features of the respective products to its clients.
Further BP confirms the following
There are no enquiry/ adjudication / action/ prosecution is / was pending / completed by any of the regulatory / statutory authorities against BP or any of its Directors. To the best of knowledge, there are no enquiry/ adjudication / action / prosecution is / was pending / completed by any of the regulatory / statutory authorities against any of employees.
BP and any of its employees and directors have never been convicted of any offence involving fraud or dishonesty.
In the event of any changes(s) pertaining to information / explanation/ documents / declarations furnished under this agreement, it shall be responsibility of BP to notify all such changes immediately to the company without being asked.
BP agrees to abide by circulars, notifications, rules, regulations issued by the regulatory authorities, Issue specific requirements and the processes defined by the company from time to time.
BP hereby agrees that it shall strictly comply with laws/ rules and regulations of all the regulatory authorities with which it registered as applicable. BP further affirms that it is eligible to enter into present agreement with the company.
As a condition of engagement, BP agree to execute all documents necessary to protect and preserve the company’s proprietary rights in copyrights, trademarks, service marks, patents, processes and trade secrets, even if no longer engaged by the company. BP further agree at the company’s request, to confirm such rights in writing. Further, BP shall not use the name or any logo or mark of the company / issue in any manner whatsoever except as expressly agreed in advance in writing by the company.
The company reserves right to alter any terms and conditions governing appointment of BP, However company shall communicate the changes to BP promptly, especially and change which effects the rights / obligations of BP.
BP shall not transfer / assign the rights and benefits available under this agreement to any other party without the prior written consent of the company.
The parties to the agreement can terminate the contract after serving the due notice of 15 days to other party in writing without assigning any reason.
Not withstanding anything contained herein, the relationship between the parties shall expire immediately on happing of the events mentioned therein:
If the BP commits any default, failure, negligence, inadequacy of services, breach or violation of any of the terms and conditions mentioned herein.
If the company /BP opts for voluntary winding up / liquidation.
If the information submitted by BP is found to be incorrect / false, at any stage.
If BP is guilty of any conduct which the company believes prejudicial to the interest of the company or the investors or impossibility of performance on the part of either of the parties for any reasons beyond the control of the parties.
BP shall be responsible for all acts or deeds prior to its termination. The termination will not absolve the business liability arising out of any action, omission, deeds things done by BP prior to termination of agreement and also during the notice period of termination.
The provisions of this agreement shall be governed by and construed in accordance with Indian laws and in case of disputes between the parties the same shall be mutually settled through friendly negotiation, if it cannot be settled through negotiation in such case parties shall refer to arbitration, wherein each party shall appoint on arbitrator and arbitrators so appointed shall appoint one more arbitrator, so that the total number of arbitrators shall be three. The arbitration shall be conducted in accordance with the arbitration and conciliation Act, 1996, as amended and will be English language. The Arbitration proceedings shall be held at Bangalore.
This agreement shall be construed in accordance with the laws of India and shall be subject to the exclusive jurisdiction of the competent courts Bangalore only.
It is important that the user goes through the cancellation and refund policy before he makes payment for any of the paid plans Along with the free plans, myMoneySage.in offers paid plans in both advisor as well as individual user versions Please note that once the user makes payment for availing paid services, the same cannot be cancelled, and hence refund of the same is not possible