Futurewise Technologies Pvt Ltd (the "Licensor"), a private limited company incorporated in India having its registered office at 6, Kanal Industrial Estate, Daulat Nagar, Road No.6, Borivali East, Mumbai 400066.
An individual/ a body corporate incorporated under the [Companies Act, 1956/2013]/ a partnership firm registered under the Indian Partnership Act, 1932 or a limited liability partnership formed and registered under the Limited Liability Partnership Act, 2008 (the "Licensee") as per the details provided in the online registration link on http://ifanow.com and includes its successors, administrators, executors, officers, heirs and permitted assigns.
The aforementioned parties shall also be known collectively as “Parties” and individually as a “Party”.
THE SOFTWARE IS COPYRIGHTED AND LICENSED (NOT SOLD). TAKING ANY STEP TO USE AND/OR LOG-IN TO THE SOFTWARE CONSTITUTES LICENSEE’S ASSENT TO AND ACCEPTANCE OF THIS AGREEMENT. WRITTEN APPROVAL IS NOT A PREREQUISITE TO THE VALIDITY OR ENFORCEABILITY OF THIS AGREEMENT. LICENSEE’S USE OF THE SOFTWARE IS EXPRESSLY MADE CONDITIONAL ON LICENSEE’S ASSENT TO THE TERMS AND CONDITIONS SET FORTH HEREIN. IF LICENSEE DOES NOT AGREE TO THE TERMS AND CONDITIONS OF THIS AGREEMENT, IT MUST IMMEDIATELY CEASE ALL USE OF THE SOFTWARE.
WHEREAS, Licensor has developed a web based personal finance software (the “Software”). The Software is aimed at helping financial advisors and financial planners provide financial advisory services to their clients.
WHEREAS, Licensee wishes to use the Software under the conditions set forth in this Agreement.
NOW, THEREFORE, in consideration of the mutual promises set forth herein, Licensee and Licensor hereby agree as follows:
- Business Day means 10.00 a.m – 6.00 p.m on any day (other than a Saturday, Sunday or a public holiday) when Licensor’s office is open for business.
- Client means any Person who is availing the services of the Licensee and who have been granted access to the Software by the Licensee.
- Confidential Information means any proprietary information of either Party disclosed to the other Party hereto including without limitation, information relating to either Party’s products, technology, know-how, specifications, and concepts; as well as information of business and commercial nature, of either Party, all in any form or medium whatsoever including in written, physical, digitalized, oral or visual form. “Confidential Information” does not include information that is: (a) public knowledge at the time of disclosure or thereafter becomes generally known other than through an act of negligence by the Receiving Party; or (b) already known to the other Receiving Party prior to its receipt from the Disclosing Party, as evident by written records.
- Intellectual Property means patents, rights to apply for patents, trademarks, trade names, service marks, domain names, copyrights and all applications and registration of such worldwide, schematics, industrial models, inventions, know-how, trade secrets, computer software programs, and other intangible proprietary information.
- Input means any data inserted in the Software by the Licensee or Client.
- Report means any document generated by the Software in response to the Input provided by the Licensee or Client.
- Online Portal means the user interface where the Licensee or the Client can access the Software.
- Asset Management Company (AMC) means an asset management company incorporated under the Companies Act, 1956 and approved by SEBI under the Securities and Exchange Board of India (Mutual Funds) Regulations, 1996, as amended from time to time, with which the Licensor will enter into a separate agreement.
2. REPRESENTATIONS AND WARRANTIES
Representations and Warranties by Licensor:
- Licensor is the owner of all right, title and interest, including copyright, in all the Licensed Materials, or has the authority to enter into this Agreement on behalf of the owner.
- Licensor will not enter into any agreement with any third party which would affect Licensee's rights under this Agreement, or bind Licensee to any third party, without Licensee's prior written consent.
- Licensor owns and possesses exclusive rights of the Software and the Source Code. No third party has any right, claim or interest whatsoever in respect of the Software.
- The Licensor hereby declares that it has complied with and agrees to comply with all statutory formalities under the Companies Act, 1956 and statutory and regulatory requirements applicable to the formation and functioning of a company/Partnership/Limited Liability Partnership.
- Licensee's use of the Licensed Materials as authorized by this Agreement will not infringe any existing copyright, trade secret, patent or trademark rights of any third party.
- It has the required legal capacity, regulatory approvals (as may be applicable) and authority to execute this Agreement and perform all its obligations, present and future, under the same. It shall also continue to have the required legal capacity, regulatory approvals (as may be applicable) and authority to effectively carry out its obligations under the terms of this Agreement.
- The Licensee shall take suitable measures within its control as a prudent and responsible user to prevent loss of Client related data and that it shall implement such measures as necessary.
- The Licensee hereby declares that it has complied with and agrees to comply with all statutory formalities under the Companies Act, 1956/Indian Partnership Act, 1932/Limited Liability Partnership Act, 2008 and statutory and regulatory requirements applicable to the formation and functioning of a company/Partnership/Limited Liability Partnership.
Representations and Warranties by the Licensee:
- The licensor shall perform periodical checks to ensure the software is free of any bugs, malware etc.
- Maintaining confidentiality and integrity of any data/information shared and the Input provided to Licensor by the Licensee and Clients;
- Taking such measures and having systems in place that would reasonably preclude access to any confidential or proprietary information regarding the Licensee and/or the Client by any third party;
- Ensuring that it takes reasonable precautions to preserve the integrity and prevent any corruption or loss, damage or destruction of the Client/Licensee data and information.
- The Licensee is duly registered as an intermediary with AMFI. The Licensee shall ensure that the ARN is valid during the subsistence of this Agreement.
- The Licensee shall ensure that the Client data entered on the Platform is true, accurate and adequate.
- The Licensee shall comply with the following rules of conduct. The Licensee shall not use, allow, or enable others to use the Software, or knowingly condone use of the Software by other Persons, in any manner that is, attempts to, or is likely to:
- Impersonate somebody that the Licensee's real entity, fake identity or any combination of both or anything related to fake or improper impersonation;
- Be ethically not acceptable or violate Applicable Laws
- Affect the reputation of the Software or any other party in whatsoever manner;.
- Send or result in the transmission of spam, junk electronic-mail, chain letters, duplicative or unsolicited messages, or spamming and phishing;
- Transmit, distribute or upload programs or materials that contain malicious code, such as viruses, time-bombs, worms, trojan horses, spyware, or other potentially harmful programs or other material or information;
- Upload or distribute any data, information or content that is not developed by the Licensee, or developed without obtaining appropriate licence or permissions;
- Upload any content that is defamatory, or violative of privacy or publicity rights, or any content showing or stating pornographic, discrimination on sex, religion, skin color, race, nationality or any other socially undesirable material;
- Modify, disrupt, impair, alter or interfere with the use, features, functions, operation or maintenance of the Software;
- Reverse engineer the Software, that is, discover, or attempt to discover, the Source Code of the Platform and use it, or a variant thereof, in any manner whatsoever; or
- Result in any other usage in an inappropriate manner.
- The Services and the Software shall be utilised solely for the Licensee's exclusive, non-assignable, non-transferable and limited use and for no other purposes, except in accordance with this Agreement. The Licensee's use of the Services and Platform is subject to Applicable Laws.
- Licensor will work diligently to protect Licensee's personal and client’s information. Licensor employs several physical and electronic safeguards to keep Licensee's information safe. Licensor stores all the data on servers in secure facilities, and implements systematic processes and procedures for securing and storing data. Licensor limits access to Licensee's personal and financial information to only those employees with authorized access, and requires third parties who perform services for the Licensor agree to keep Licensee's information confidential. Furthermore, if the Licensee chooses to close its account or its account is terminated with the Licensor, the Licensor will continue to adhere to the privacy policies and practices outlined here. If the Licensee maintains an account with the Licensor that it accesses through the Licensor’s website, then the Licensee is responsible for protecting and maintaining the confidentiality of its account and password and restricting access to its computer.
- Licensor reserves the right to disclose any Licensee and/or Client-related Data, and any other information received in connection thereto, if it is specifically directed or mandated to do so under any Applicable Law, legal proceeding or directive by any administrative, judicial, quasi-judicial, statutory or regulatory body or any authority or agency of the Government.
- Other than the circumstances specified above, Licensor shall reasonably ensure that the confidentiality of data is maintained and no information is disclosed to any party under any condition / circumstances, whatsoever, except in accordance with this Agreement.
- The fee chargeable for the Software may undergo change, from time to time and shall be intimated to the Licensee.
- The fees shall be remitted to Licensor at the beginning of the period for being allowed access to the Software.
- In the event that the fees payable to Licensor remain unpaid for more than 15 Business Days since the commencement of the period, Licensor may withhold the Software access of the Licensee and its Clients respectively, till such payment of fees.
We follow a reliable refund and cancellation policy to let you feel privileged about your association with us. Please read the guidelines governing the refund and cancellation policy.
- You may cancel your account at any time by emailing email@example.com
- If you cancel the Service in the middle of the plan, you will not be charged again from next billing cycle.
- Fraud: Without limiting any other remedies, Licensor may suspend or terminate your account if we suspect that you (by conviction, settlement, insurance or investigation, or otherwise) have engaged in fraudulent activity in connection with the services offered by us.
- Note: No refunds are offered, even if a plan is canceled mid-term.
15 Day No Obligation Cancellation
Licensor offers SaaS service to Licensee under a 15-day no obligation cancellation policy. The no obligation cancellation begins immediately upon account activation. The 15-day no obligation cancellation period only applies to new Licensees and does not apply to existing Licensees that have a subscription plan. Licensor will also not honor a free trial period for Licensees who were once paying subscribers, cancelled, and then decided to re-instate their subscription to Licensor.
At any time during the 15-day period, Licensee can cancel their account and will be refunded in full excluding the service tax charged. The 15-day no obligation cancellation policy only applies to Licensees who have availed the Yearly payment option. No refund will be given to Licensees who have availed the Quarterly or Monthly payment option.
In order to continue using the License after the 15-day no obligation cancellation period, you will be automatically be put to continue to your selected payment plan which you have selected initially at time of buying from range of selections of monthly or quarterly or yearly option.
Monthly Billing, Cancellation, and Refund Policies
To sign up for a monthly subscription plan, the Licensee must make the payment via Debit Card/ Credit Card, Net Banking, UPI, Wallets or NACH debit mandate. Even if the Licensee intends on paying every month with NACH debit mandate, the Licensor requires a first time subscription purchase be made via an online method like Debit Card/ Credit Card, Net Banking, UPI or Wallets.
Licensor charges and collects in advance for use of the SaaS service. Once a customer selects a subscription plan and provides billing information, Licensor will calculate a pro-rated amount with the first payment due on signing.
All subscriptions monthly, quarterly and yearly renew automatically on their due renewal date according to date of purchase. Furthermore, Licensor reserves the right to change or modify its fee structure and introduce new charges with at least 15 days prior notice to the Licensee. Licensees may cancel anytime by emailing a notice to: firstname.lastname@example.org. Licensees will receive an email from Licensor confirming that their subscription to the License has been cancelled.
Important: No refunds or credits for partial months, quarters or years of service will be refunded to a Licensee upon cancellation. All fees are exclusive of all taxes, levies, or duties imposed by taxing authorities, and the Licensee is responsible for payments of all such taxes, levies, or duties.
Licensees have the ability to upgrade or downgrade their subscription plan for the License at any time. For any kind of upgrade or downgrade in subscription, Licensee has to write to email@example.com. With regards to downgrades on a subscription, Licensor does not issue refunds or credits for partial months of service.
These above policies apply to all the SaaS services listed on Licensor's website unless otherwise noted.