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This document is an electronic record in terms of Information Technology Act,
2000 and rules there under as applicable and the amended provisions pertaining
to electronic records in various statutes as amended by the Information
Technology Act, 2000. This electronic record is generated by a computer system
and does not require any physical or digital signatures.
This document is
published in accordance with the provisions of Rule 3 (1) of the Information
Technology (Intermediaries guidelines) Rules, 2011 that require publishing the
rules and regulations, privacy policy and Terms of Use for access or usage of
www.raklepe.com website.
This Merchant Agreement (“Agreement”) is a legal agreement between you (“you”, “your”) and Rakle Services (“RaklePe, “we”, “our” or “us”) governing your use of Rakle Services services whereby RaklePe shall provide aggregate payment gateway solutions to you for selling Products (as defined below) and/or collecting money for a specified purpose (together, the “RaklePe”).
This is an important document which you must consider carefully when choosing whether to use Rakle Services Services at any time. Please read the terms of this Agreement carefully before agreeing to it. This Agreement also highlights certain risks on using the Rakle Services Services together with guidance on how online payments through Rakle Services can be facilitated.
You are solely responsible for understanding and complying with any and all laws, rules and regulations of your specific jurisdiction that may be applicable to you in connection with your business and your use of the Rakle Services Services.
BY CLICKING THE ACCEPTANCE BUTTON OR ACCESSING, USING OR INSTALLING ANY PART OF THE SERVICE, YOU EXPRESSLY AGREE TO AND CONSENT TO BEING IRREVOCABLY BOUND BY THIS AGREEMENT AND ALL OF THE TERMS SET OUT HEREIN. IF YOU DO NOT AGREE TO ALL OF THE TERMS OF THIS AGREEMENT, THE BUTTON INDICATING NON- ACCEPTANCE MUST BE SELECTED. Rakle Services WILL PROMPTLY CANCEL THE ASSOCIATION AND YOU MAY NOT ACCESS, USE OR INSTALL ANY PART OF THE SERVICE.
Rakle Services SHALL HAVE DEEMED TO HAVE ACCEPTED THIS AGREEMENT AND THE CONTRACT SHALL ONLY BE CONSIDERED TO BE DULY EXECUTED, VALID AND BINDING AFTER THE RECEIPT OF THE REǪUIRED INFORMATION FROM YOU, DUE VERIFICATION OF THE SAME BY Rakle Services AND A VERIFICATION OF THE CONTRACT BEING SENT BY Rakle Services TO YOU AS MORE SPECIFICALLY STATED BELOW.
THE CONTRACT SHALL BE DEEMED TO HAVE BEEN RECEIVED, ACCEPTED AND FORMED AT RaklePe'S REGISTERED OFFICE AT, D 1280, Inidira Nagar, Lucnow Uttar Pradesh 226016, INDIA.
This Agreement is divided into two parts. Part One explains the terms that govern your use of the Services. Part Two contains additional legal terms, including provisions that limit our liability to you and require individual arbitration for any potential legal dispute. To use the Services, you must accept all of the terms of this Agreement.
For the purpose of this Agreement:
You must register with us in order to open a RaklePe Account and use Rakle Services Services. We allow both individuals and Legal Entities to register with RaklePe. Without any legal obligation to do so, we require certain information from you, as laid out in the registration form, to permit the use of Rakle Services Services. You must provide accurate and complete information. In addition, you must keep the information that you provide up-to-date at all times. For business Users, you are only permitted to apply and enrol, if you represent a legitimate business and have the authority to enter into this Agreement on behalf of the business.
You represent and warrant that you are duly authorized by the business entity to accept this Agreement and have the authority to bind such business entity. You further represent and warrant that the business entity has all the requisite consents, approvals, certificates, agreements, registrations and licences in accordance with the laws, regulations, rules and guidelines in force in India from time to time.
You must provide accurate and complete information in response to our questions. You must complete this and other processes to access any funds that you accept through the Services. You must also keep the information that you provide up-to-date. We reserve the right to suspend or terminate your Rakle Services Account in event that you provide inaccurate, untrue, or incomplete information, or fail to comply with the account registration requirements.
You further agree and allow Rakle Services to verify the complete information provided by You through itself and/or any third party(ies) and acknowledge that such third party(ies) and Rakle Services may store the same in its custody basis applicable laws.
By creating/opening a Rakle Services Account, you represent and confirm that you are:
Rakle Services Services and your Rakle Services Account can only be used in India. You acknowledge that Rakle Services Services may be subject to export restrictions imposed by the laws, rules, regulations, and guidelines in force in India.
You must choose a reasonably descriptive User name that clearly identifies you or your business. This name will appear on the Customer’s Valid card/ Account statement. If a Transaction dispute results from your failure to use a reasonably descriptive user name, you agree to indemnify Rakle Services for any costs stemming from such dispute.
As part of Rakle Services registration process, you will create a password for your Rakle Services Account. You are responsible for maintaining the confidentiality of the password and the Rakle Services Account, and are fully responsible for all activities that occur under the Rakle Services Account, including, without limitation, all actions by sub-users registered under the Rakle Services Account. You agree to
At the time of registration, you are required to disclose the exact business category/business sub-category for which you will be using the Rakle Services Services and only avail the Rakle Services Services through your designated Merchant Site. You understand and acknowledge that in order to use the Rakle Services Services for any other purpose, you shall notify Rakle Services in writing of such change and such change will be subject to approval by RaklePe.
In order to avail Rakle Services Services and Acquiring Bank Services, you must be approved by and registered with RaklePe, the Acquiring Banks and Nodal Bank. Any undertaking with respect to the Rakle Services Services under this Agreement shall be subject to RaklePe’s, the Acquiring Banks’ and Nodal Bank’s approval and completion of the registration process. By accepting the terms of this Agreement, you agree to provide Rakle Services with all such documents as required by Rakle Services to register you with RaklePe, the Acquiring Banks and Nodal Bank. You authorize Rakle Services to request for supplemental documentation at any time (before or after your RaklePe Account has been activated), in order to verify your identity, the accuracy of the information provided, legitimacy of your business, and/or your Customers, including a Customer report that contains your name and address, etc. If we cannot verify that this information is accurate and complete, we may deny your use of the Services, or close your Rakle Services Account at any time.
You further understand and acknowledge that RaklePe, the Acquiring Banks and Nodal Bank have the right to withdraw their approval/consent at any time prior to or after commencement of the RaklePe Services.
Rakle Services facilitates individuals and legal entities in accepting payments initiated by their customers on their website or mobile application directed to the Rakle Services Site, using Valid Cards, Net Banking and various other acceptable modes of Payment Mechanism provided by RaklePe.
Rakle Services a software application (“Software Application”) and established a Rakle Services Site. Rakle Services will act as an intermediary, by creating a link between the Merchant Site and the respective Acquiring Banks by means of the Software Application and Rakle Services Site, for enabling the Customers to make payment of Customer Charge on the Merchant Site for the Transactions carried, using Acquiring Bank’s Services (“Internet Payment Gateway"). In order to serve in this role, we have entered into agreements with various Acquiring Banks, Nodal Bank, financial institutions, Card Associations and other software providers who are in the business of providing information technology services, including but not limited to, internet based electronic commerce, internet payment gateway and electronic software distribution services, to enable use of internet payment gateways developed by them, to
These Transactions are between you and your Customers and we are only acting as an intermediary. We are NOT
The relationship between Rakle Services and you is on principal-to-principal basis. Nothing contained herein shall be deemed to create any association, partnership, joint venture or relationship of principal and agent or master and servant, or employer and employee between us hereto or any affiliates or subsidiaries thereof or to provide either Party with the right, power or authority, whether express or implied to create any such duty or obligation on behalf of the other Party.
Rakle Services has no connection or interest of whatsoever nature in your business or the Products offered/ marketed on the Merchant Site. Rakle Services shall provide Rakle Services Services to you, as an independent entity and under the terms and conditions of this Agreement. Rakle Services has no relationship with the Customers and all actions under this Agreement which may affect the Customers are instructed by you. You alone shall be responsible to the Customers and neither Rakle Services nor the Acquiring Bank or anybody connected to Rakle Services or Acquiring Bank shall have any responsibility or liability towards the Customers and you shall keep Rakle Services and Acquiring Bank fully indemnified for all times to come in this respect.
Rakle Services is neither concerned nor required to monitor in any manner the use of the payment modes by the Customers for procuring / availing the Products. The Customers should be required to use the payment modes at their sole option and risks. You shall be required to notify this responsibility to all its Customers under the instructions provided by RaklePe.
As you will be using the Acquiring Banks Services and Card Association Services, you undertake comply with all applicable rules, guidelines, instructions, requests and actions, etc., made by the Acquiring Banks and/or Card Associations from time to time. The Acquiring Banks and Card Associations may also put limitations and restrictions on you, at its sole discretion. In addition, the Acquiring Banks has the right to reverse/reject settlement, suspend and/or terminate services, make inspections or inquiries in relation to the Transaction, etc. You understand and acknowledge that the Acquiring Banks and Card Association Rules form a part of this Agreement. In the event that your non-compliance of Acquiring Banks and/or Card Association Rules, results in any fines, penalties or other amounts being levied on or demanded of Rakle Services by an Acquiring Bank and/or Card Association, then without prejudice to RaklePe’s other rights hereunder, you shall forthwith indemnify Rakle Services in an amount equal to the fines, penalties or other amount so levied or demanded. If you fail to comply with your obligations towards the Acquiring Banks and/or Card Associations, Rakle Services may suspend settlement or suspend/terminate the Rakle Services Services forthwith.
You shall be responsible at your own costs for providing and maintaining all necessary equipment, software and facilities at your end so as to connect the Merchant Site software to the Software Application.
You shall take all such precautions and measures as may be directed by Rakle Services from time to time to ensure that there is no breach of security and the integrity of the link between the Merchant Site and the Internet Payment Gateway ("Hotlink") is maintained and shall ensure that all Customers upon accessing the Hotlink are properly directed to the Internet Payment Gateway. You shall also ensure that there are proper encryption and robust security measures to prevent any hacking into the information of the Customers and other data. In addition to the above, you shall also comply with security practices and procedures as prescribed in the Information Technology Act, 2000 and the rules made thereunder and/or the RBI rules and Regulations. Any loss incurred to you, Rakle Services or the Acquiring Bank as a result of the Hotlink being breached due to improper security on part of you, your employees, contractors, agents, etc. and/or on the Merchant Site, shall be borne solely by you and you agree to indemnify, defend and hold harmless Rakle Services and the Acquiring Banks from any claims, actions, damages or losses arising out or in relation thereto. Without prejudice to the generality of the aforesaid, you shall routinely and at such time intervals as may be specified by Rakle Services and/or the Acquiring Banks check the integrity of the Hotlink and provide such reports and/or conduct such tests as may be required by Rakle Services and/or Acquiring Banks from time to time.
The Acquiring Bank will authenticate, authorize, and process the payment instructions given by the Customers on the Merchant Site in respect of the Transactions upon fulfillment of valid criteria as set forth by the Acquiring Banks and the Card Associations from time to time and accordingly transfer such approved Customer Charge from the Customer Bank Account/ Customer Wallet to the Nodal Account.
RaklePe, Acquiring Banks and/or Card Association may reject authorization of Transaction placed by the Customer for any reason including but not limited to risk management, suspicion of fraudulent, illegal or doubtful Transactions, selling of banned items, use of compromised Valid Cards, use of blacklisted/banned cards or in accordance with the RBI, Acquiring Banks, Issuing Institution and/or Card Association rules, guidelines, regulations, etc. and any other laws, rules, regulations, guidelines in force in India, etc.
You acknowledge that as a risk management tool, RaklePe and/or the Acquiring Banks reserve the right to limit or restrict transaction size, amount and/or monthly volume at any time. For the purpose of clarity such limitations or restrictions may be imposed for the following reasons including but not limited to limits/restrictions on the number of purchases which may be charged on an individual Valid Card or net banking account during any time period, rejection of Payment in respect of Customer Orders from Customers with a prior history of questionable charges, unusual monetary value of Transaction, etc. Further, as a security measure, RaklePe may at its sole discretion block any card number, account numbers, group of cards or Transactions from any specific blocked or blacklisted customer cards, accounts, specific, group of IP addresses, devices, geographic locations and / or any such risk mitigation measures it wishes to undertake.
By accepting the terms of this Agreement, you authorize us to hold, receive, disburse and settle funds on your behalf. Your authorization permits us to generate an electronic funds transfer between the Acquiring Banks and our Nodal Account to process each Transaction that you authorize. Thereafter you authorise us to transfer the Settlement Amount received from your Customers to the Merchant Bank Account designated by you for this purpose at the time of registration. Your authorization will remain in full force and effect until your Rakle Services Account is closed or terminated.
In consideration for Rakle Services Services, you shall pay RaklePe, Service Fees. The Service Fees shall be deducted by RaklePe from the Customer Charge payable to you in respect of each completed Transaction. Rakle Services reserves the right to revise the Service Fees periodically, and Rakle Services will intimate you of any such change within reasonable time. You shall also pay to Rakle Services (i) a non-refundable one time set up fee, and (ii) Annual Maintenance Charge payable in advance every year. Rakle Services shall have a right to deduct such set-up fee and Annual Maintenance Charges from the Settlement Amount payable to you. In addition, in consideration of the license granted with respect to the Mobile SDK, you agree to pay Rakle Services a royalty (“Royalty”).
Subject to any other Clause of this Agreement, RaklePe shall endeavour to instruct the Nodal Bank to transmit the Settlement Amount from the Nodal Account to your Bank Account within the time period prescribed by RBI commencing from date of Completion of Transaction.
In the event that you opt for Rakle Services Services using Rakle Services Product: Rakle Services Enterprise, the Transaction shall be completed only upon receipt of the Customer Charge in the Nodal Account from the Acquiring Banks and reconciliation of the same by the Acquiring Banks, Rakle Services and the Nodal Bank (“Rakle Services Completion of Transaction”)
In the event that you opt for Rakle Services Services using Rakle Services Product: Rakle Services demands Proof of Delivery for any Transaction(s), the Transaction shall be completed only upon submission of Proof of Delivery by you (in the manner prescribed by RaklePe) and the confirmation of the same by the respective Customer. In the event that the Customer does not confirm delivery within 3 (three) days from the date on which you provide Proof of Delivery, it shall be considered as deemed confirmation and the Transaction shall be deemed to be completed. (“Rakle Services Completion of Transaction”)
The transmission of the Settlement Amount to the Merchant Bank Account shall be subject to reconciliation of the Customer Charge by the Acquiring Banks, Rakle Services and the Nodal Bank after actual receipt of Customer Charge in the Nodal Account.
All payments with respect to refunds and Chargebacks shall be solely your responsibility and Rakle Services shall not be liable for any claims, disputes, penalties which may arise in connection with such refunds or Chargebacks to you or the Customer. You shall indemnify Rakle Services in respect of any claims, disputes, penalties, costs and expenses arising directly or indirectly in relation to refunds or Chargebacks for all Transactions initiated and instructed through the Merchant Site.
Notwithstanding anything contained anywhere in this Agreement, you hereby confirm and agrees that RaklePe, Acquiring Bank and Nodal Bank reserve the right to reject payments with respect to any Customer Charge for reasons including but not limited to unlawful, erroneous Transaction, Chargeback, refund, fraud, suspicious activities, card Authentication and Authorization issues, overpayment made due to mathematical errors or otherwise, penalties incurred, Transaction related issues, issues related to Delivery, Customer Charge or Product, if the Transaction was not made in accordance with the requirements of RaklePe and/or the Acquiring Banks and/or Card Association.
In the event of rejection of payment with respect to Customer Charge, Chargeback, refunds or other Outstanding Amounts due to RaklePe, Acquiring Bank and/or the Customer by you, Rakle Services and/or the Acquiring Bank reserve the right to reverse the credit given to the Merchant Bank Account or set-o! the payment amount rejected, Chargeback or refunded or the Outstanding Amount against Settlement Amount payable to you. RaklePe and/or Acquiring Banks may also deduct the payment amount due from future Settlement Amounts payable to you with respect to subsequent Transactions.
All Settlement Amount due to you under this Agreement may be suspended or delayed till such time as RaklePe, the Acquiring Banks and/or nodal bank deems fit, if:
Our Collection Rights for Chargebacks: For any transaction that results in a Chargeback, we may withhold the Chargeback amount in a Reserve. We may debit the amount of any Chargeback and any associated Fees, fines, or from your Settlement Amount and/or Reserve. If we reasonably believe that a Chargeback is likely with respect to any transaction, we may withhold the amount of the potential Chargeback from payments otherwise due to you under this Agreement until such time that:
Excessive Chargebacks: If we determine that you are incurring an excessive amount of Chargebacks, Rakle Services may establish controls or conditions governing the Transactions contemplated under this Agreement, including without limitation, by
Contesting Disputed Transactions:
In the event of a Chargeback dispute relating to a Transaction contemplated
under this Agreement (“Disputed Transaction”), on any grounds whatsoever,
Rakle Services shall forthwith notify you of the same. On such notification you
shall conduct an internal review of such matter and shall within 5 (five)
days from receipt of notice, revert to Rakle Services in writing either:
Fail to provide Refund Request and fail to contest such Disputed Transaction within the aforesaid period or contests Disputed Transaction without providing supporting documentation to the satisfaction of RaklePe, Acquiring Banks, Card Association and/or Issuing Institution, Rakle Services shall be entitled to recover the Refund Monies from Settlement Amount subsequently made to the Nodal Account. In the event that Rakle Services is unable to recover the Refund Monies as aforesaid, due to the Settlement Amount credited to the Nodal Account being lower than the Refund Monies, Rakle Services shall deduct the remaining Refund Monies from the Reserve (if any) or set-o! the remaining Refund Monies against the future Settlement Amounts payables to you and refund the same to the Customer. You shall be liable to make payment of the Refund Monies or part thereof which has not been recovered by Rakle Services forthwith.
It is hereby agreed and acknowledged by the Parties that the Service Fees charged by Rakle Services in respect of a Transaction that has been confirmed shall not be refunded or repaid by Rakle Services to you or any other person irrespective of the Customer Charge being rejected, chargeback, refunded or disputed.
You understand and acknowledge that at any time and from time to time, we may temporarily suspend or delay payments to you or require you to provide Rakle Services with Reserve of such amounts as may be requested by Rakle Services to secure the performance of your payment obligations under this Agreement for reason, including without limitation, high Chargeback risk, credit risk, refund overdraft risk, non-delivery issues, selling of banned items, non-payment of maintenance fees or other amount payable to RaklePe or any other indications of performance problems related to your use of the Rakle Services Services. If you fail to provide Rakle Services with Reserve within seven (7) days of receipt of notice for the same, Rakle Services reserves the right to suspend and/or terminate the Settlement Amount payable you or the RaklePe Services without further notice. Rakle Services may use this Reserve to set-off including but not limited to any Outstanding Amounts payable by you to RaklePe, Acquiring Banks and/or Customers.
In case the Settlement Amount payable to you and/or the Reserve (if any) is not sufficient to cover your Outstanding Amount, then you shall pay Rakle Services and/or the Acquiring Banks the remaining amount due immediately upon request. Rakle Services shall be entitled to charge daily interest on such Outstanding Amount from the date of request until the date of payment in full, at the rate of 1.5% per month. Provided that the above right of Rakle Services to appropriate the Reserve and set-off the Outstanding Amount in the above manner shall be in addition to and reserving fully the right of Rakle Services to recover all such losses, costs and damages etc from you by any other means, which may be available to Rakle Services under the law. In addition, you agree to pay all costs and expenses, including without limitation attorneys' fees and other legal expenses, incurred by or on behalf of us in connection with the outstanding amount and the collection of same from you.
You understand that in order to avail the EMI services of a bank, you must be specifically approved by such bank for provision of EMI services.
The EMI services shall be offered at the discretion and as per the terms and conditions of the respective bank and RaklePe. You shall ensure that while making a Transaction, the Customer also accepts such terms and conditions.
You understands that at time of the making the Transaction, the Customer shall be charged the full amount of the sale price; RaklePe shall send details of settled Transactions for conversion to EMI along with complete details, within 2 (two) Business Days from the date of Completion of Transaction. EMI transactions once submitted cannot be cancelled / reversed.
In the event that you provide EMI options to the Customers, you shall endeavour to deliver the Product after the approval of the EMI option from the Issuing Institution providing the EMI option through RaklePe. Rakle Services shall not be liable to you or the Customer for any dispute arising with respect to rejection of EMI option to a Customer after a Transaction has been confirmed, irrespective of the Settlement Amount being in the Nodal Bank or already transferred to the Merchant Bank Account. The Customer shall raise such dispute directly with the Issuing Institution.
You understand and acknowledge that all Transactions shall be converted to EMI transactions in offline mode. The Issuing Institution shall endeavor to convert all transactions approved by them to EMI within 5 (five) Business Days.
You shall ensure that an EMI calculator is available on the Merchant Site in order to explain the EMI calculation to the Customer
You understand and acknowledge that the Issuing Institution may modify the terms of the EMI offering or withdraw the EMI Scheme completely at any time. Rakle Services and the Acquiring Banks shall not be responsible to you or the Customer for any disputes arising due to non-conversion of a Transaction to EMI or informing you about rejection of EMI request by the Issuing Institution.
You shall dispatch/render the Products to the Customer only upon receipt of transaction confirmation from RaklePe. Rakle Services shall give confirmation only upon receipt of transaction confirmation in respect of the Transaction from the Acquiring Bank. Rakle Services shall not be responsible for any Transactions that have not been confirmed with Rakle Services by the Acquiring Banks.
You shall ensure that it maintains Proof of Delivery with respect to each Transaction initiated through the Merchant Site for a period of at least one (1) year from the date of Delivery. Proof of Delivery shall be open for inspection by Rakle Services and/or the Acquiring Banks at all times during working hours on Business Days. Notwithstanding any other Clause of this Agreement, you understand that Rakle Services and/or the Acquiring Bank and/or Nodal Bank reserve the right to call for Proof of Delivery, at any time, before and/or after settlement of Settlement Amount to the Merchant’s Bank Account with respect to any Transaction. Rakle Services and/or the Acquiring Banks have the right to reverse Customer Charge amount to the Customers and/or reject the Customer Charge to Merchant, if Proof of Delivery is not provided in accordance to this Agreement.
You shall deliver the Product within the Delivery Due Dates specified at the time of making the transaction on the Merchant Site. If you are unable to deliver the whole or any part of the Transaction within the Delivery Due Date, you shall forthwith inform the Customer and take immediate action to refund the Customer Charge in whole or in part as per the Customers instructions.
All risks associated with the Delivery shall be borne solely by you and not RaklePe. Any and all disputes regarding quality, merchantability, non-Delivery, delay in Delivery or otherwise shall be resolved directly between the Customer and you without making RaklePe and/or the respective Acquiring Bank a party to such disputes.
By accepting to use Rakle Services Services, you agree to process returns of, and provide refunds and adjustments for, Products sold and/or payment collected through the Merchant Site in accordance with this Agreement, the Acquiring Banks’ instructions and Card Association Rules. You understand that no refund shall be processed by Rakle Services after a period of 180 days from the date of the Transaction. You shall
The amount of the refund/adjustment must include any associated taxes required to be refunded and cannot exceed the amount shown as the total on the original sales data except by the exact amount required to reimburse the Customer for postage that the Customer paid to return merchandise. If the Customer accepts returns and makes an uneven exchange of Products (e.g., the sales price is not the same), you must issue a credit for the total amount of the Products being returned and the Users must complete a new sale for any new Products. Please be aware, that if your refund policy prohibits returns or is unsatisfactory to the Customer, you may still receive a chargeback relating to such sales.
All Customer service issues relating to the Transaction, Products sold on its Merchant Site including but not limited to Customer Charge, order fulfilment, order cancellation, returns, refunds and adjustments, rebates, functionality and warranty, technical support and feedback concerning experiences with its personnels, policies or processes, are solely your responsibility. In performing Customer service, you will always present itself as a separate entity from RaklePe. You shall provide Customer support during all Business Days. Such support shall include appropriate notice to Customers of means of contacting you including e-mail address and telephone number, in the event the Customer has questions/queries regarding the nature or quality of the Product and the procedures for resolving disputes.
Under no circumstances shall Rakle Services be responsible for customer support to the Customer or any third party.
We may, from time to time during the term, make or carry out risk assessments on you and/or the Transactions carried out on the Merchant Site (each a "Risk Assessment") which shall inter alia be for the following purposes:
We may periodically obtain additional reports to determine whether you continue to meet the requirements of this Agreement. You agree that we are permitted to collect and share information about you and your application (including whether you are approved or declined), and your Rakle Services Account with the Acquiring Banks, Card Associations, Issuing Institutions, other banks, financial institutions and governmental authorities. This includes sharing information
If, at any time after we have made or carried out a Risk Assessment or it has been notified of an issue, we determine (acting reasonably) that you or circumstances relating to you represent a material credit risk or potentially increase our exposure under this Agreement, we may:
You shall maintain records of such periodical checks in such manner as may be specified by us and/or the Acquiring Banks. We and/or the Acquiring Banks shall be entitled to check and audit your records and statements to ensure compliance with your obligations under this Agreement at such intervals or times as we and/or the Acquiring Banks may deem fit. We and/or the Acquiring Banks may also inspect your business location. If you refuse such inspection, your Rakle Services Account may be terminated. We reserve the right to suspend or terminate the Rakle Services Account of any user who provides inaccurate, untrue, or incomplete information, or fails to comply with the Rakle Services Account registration requirements. If you refuse such inspection or provides inaccurate, untrue, or incomplete information, or fails to comply with the terms and conditions of this Agreement, we reserve the right to suspend or terminate the Rakle Services Services forthwith.
You hereby declare, assure, undertake and covenant as under:
Your privacy is very important to us. Upon acceptance of this Agreement, you confirm that you have read, understood and accepted our Privacy Policy.
By using our Service, you may receive information about Customers. You must keep such information confidential and only use it in connection with the Services. You may not disclose or distribute any such information to a third party or use the information for marketing purposes unless you receive the express consent of the Customer.
You agree that Rakle Services can provide disclosures and notices required by law and other information about your Rakle Services Account to you electronically by posting it on our website, or by emailing it to the email address provided by you at the time of registration. You also agree that electronic disclosures and notices have the same meaning and effect as if we had provided you with paper copies. Such disclosures and notices are considered received by you within 24 hours of the time posted to our website, or within 24 hours of the time emailed to you unless we receive notice that the email was not delivered.
This Agreement may be terminated by either Party by giving 30 (thirty) days
prior written notice to the other Party.
Either Party may terminate this Agreement forthwith in the event:
Rakle Services shall terminate this Agreement forthwith, if the Merchant fails to perform its obligations hereunder or is in breach of any terms and conditions of this Agreement.
The termination under this Clause is in addition to and without prejudice to the termination rights which Rakle Services may have under any other Clause in this Agreement.
The termination of this Agreement shall not affect the rights or liabilities of either Party incurred prior to such termination. In addition, any act performed during the term of this Agreement which may result in a dispute post termination or any provision expressed to survive this Agreement or to be effective on termination or the obligations set out in this Clause shall remain in full force and effect notwithstanding termination. Subject to other Clauses of this Agreement, both Parties shall undertake to settle all outstanding charges within 30 (thirty) days of the termination taking effect.
Where any payments claimed by Rakle Services exceeds the Settlement Amount due to you the difference thereof shall be a debt due from you to Rakle Services and be forthwith recoverable by appropriate legal action, as deemed fit by RaklePe. Without prejudice to RaklePe’s rights and remedies, in the event that you do not make any payments to Rakle Services by its due date or on demand as required under this Agreement, Rakle Services shall be entitled to charge daily compounded interest on such overdue amount from the due date until the date of Settlement Amount in full, at the rate of 2.5% per month. This section shall not preclude Rakle Services from recourse to any other remedies available to it under any statute or otherwise, at law or in equity.
All materials, documentation, instruction manuals, guidelines, letters and writings and other materials issued by RaklePe from time to time in respect of this Agreement, whether in respect of the utilization of the Internet Payment Gateway or otherwise shall be returned by you to Rakle Services upon termination.
You agree and confirm that you shall remain solely liable after the termination of this Agreement for all Chargebacks, refunds, penalties, loss, damages or cost incurred by RaklePe, Acquiring Banks, Card Associations and/or Customers and for all claims and proceedings arising against Rakle Services and/or Acquiring Banks with respect to this Agreement. At the time of termination, Rakle Services may retain such amount from the Reserve (if any) and Settlement Amount payable to you (including Settlement Amounts withheld) as may be determined by Rakle Services to cover chargeback risk, refund risk or any potential loss, damages, penalties, cost that may be incurred by RaklePe, Acquiring Banks, Card Associations and/or Customers for a period of 210 Business Days. Subject to this Clause and any other Clause of this Agreement, all settlement to you after notice of termination shall be done post termination. In the event that such retained amount is not sufficient to cover all Outstanding Amounts owed by you post termination, you shall ensure that it pays Rakle Services all pending amounts within 10 (ten) days of receiving the demand notice and shall at all times keep RaklePe indemnified in this respect. This Clause survives the termination of this Agreement.
You represent and warrant to us that:
By accessing this Website, accessible from https://raklepe.com/, you are agreeing to be bound by these Website Terms and Conditions of Use and agree that you are responsible for the agreement with any applicable local laws. If you disagree with any of these terms, you are prohibited from accessing this site. The materials contained in this Website are protected by copyright and trade mark law.
Permission is granted to temporarily download one copy of the materials on Rakle Services Website for personal, non-commercial transitory viewing only. This is the grant of a license, not a transfer of title, and under this license you may not:
This will let Rakle Services to terminate upon violations of any of these restrictions. Upon termination, your viewing right will also be terminated and you should destroy any downloaded materials in your possession whether it is printed or electronic format. These Terms of Service has been created with the help of the Terms Of Service Generator .
All the materials on RaklePe’s Website are provided "as is". Rakle Services makes no warranties, may it be expressed or implied, therefore negates all other warranties. Furthermore, Rakle Services does not make any representations concerning the accuracy or reliability of the use of the materials on its Website or otherwise relating to such materials or any sites linked to this Website.
Rakle Services or its suppliers will not be hold accountable for any damages that will arise with the use or inability to use the materials on RaklePe’s Website, even if Rakle Services or an authorize representative of this Website has been notified, orally or written, of the possibility of such damage. Some jurisdiction does not allow limitations on implied warranties or limitations of liability for incidental damages, these limitations may not apply to you.
The materials appearing on RaklePe’s Website may include technical, typographical, or photographic errors. RaklePe will not promise that any of the materials in this Website are accurate, complete, or current. Rakle Services may change the materials contained on its Website at any time without notice. Rakle Services does not make any commitment to update the materials.
Rakle Services has not reviewed all of the sites linked to its Website and is not responsible for the contents of any such linked site. The presence of any link does not imply endorsement by Rakle Services of the site. The use of any linked website is at the user’s own risk.
Rakle Services may revise these Terms of Use for its Website at any time without prior notice. By using this Website, you are agreeing to be bound by the current version of these Terms and Conditions of Use.
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Any claim related to RaklePe's Website shall be governed by the laws of in without regards to its conflict of law provisions.