Terms of Service for Personal Information, Credit Report, Score and Other Information
You hereby authorize Inforvio Technologies Pvt. Ltd. (ITPL) and/or Loanwiser by ITPL (referred herewith as ‘ITPL or ITPL’s’) to do all of the following in connection with providing you the Services from ITPL and/or its registered business partners in the assisted digital model:
1. Verify your identity whereby we will retain and share with credit bureaus like CRIF Highmark and financial institutions the required personal identifiable information about you as well as facilitate your loan application.
2. Request and receive your credit report and credit score from the credit bureaus like CRIF Highmark, including but not limited to a copy of the credit report and credit score, at any time for so long as you have not opted out or unsubscribed from this service.
3. Share your details with banking and other financial institution partners in order to assist you to know about the loan/credit card viability, eligibility and loan/credit card application evaluation basis your request for ITPL services via its and also to rectify and remove negative observations from your credit information report and increase your chances of loan approval in future.
4. To provide you with customized recommendations and personalized offers of the products and services of ITPL and/or its banking and financial institution partners and/or its business partners/affiliates.
5. To send you information/analysis/reports/personalized offers via email, text, sms, whatsapp message, call or online display or other means of delivery in ITPL’s reasonable sole discretion.
Terms of Service
Please read the following important provisions carefully before using this Service to complete the authorization process to ITPL (“Website - https://loanwiser.in/”) via ITPL’s digital platform and/or website and/or mobile applications. By accessing or using this Service and clicking on “I Accept” you agree and accept to be bound by these terms and conditions and disclaimers set out herein:
• Credit Information Report and other Service on the including access to consumer credit report and credit score
• Terms of Registration and Authorization
• Information we collect
• How we use your credit and other information
• Your ITPL/Loanwiser Account
• Disclaimer of Warranties
• Limitations and Restrictions on the Use of Service
• Links to other Websites
• Compliance, Applicable laws and Jurisdiction
• Other Terms and Conditions
1. Credit Information Report Service
The various services provided by ITPL via the digital platform and/or website and/or mobile applications ("Service") enables you to access your credit report, credit score and information as supplied by the credit bureau partners ("Credit bureaus”/ “Credit Information Companies"). The Service consists of receipt of your credit report, credit score and related information, its analysis and review as well as guidance and explanation to help you understand it better.
2. Terms of Registration and Authorization
• You agree that by submitting your details on any of the ITPL’s platform website and/or mobile application and/or any linked online or messaging platform and requesting the Service, you are providing express and voluntary written consent to ITPL, authorizing and appointing ITPL as your lawful and authorized representative, for the purposes, including but not limited to instruct the Credit bureaus, its affiliates, to obtain, receive and compile your credit information i.e. credit reports and credit scores, from the Credit bureaus on your behalf, viewing and analysing your credit report containing your personal and financial information and use it in the manner consistent with this Terms of Service.
• You agree that this Service is provided to help you know and understand your loan eligibility and viability report better and to provide you with personalized offers for products and services from ITPL and/or its business/marketing/banking and financial institution partners either directly or through its business partners as part of its assisted digital platform.
• By providing your consent and authorization, we will create your ITPL account on the platform and proceed with providing you all the offered services.
• Further, you hereby expressly grant consent to ITPL to direct the Credit bureaus to share/forward/deliver and/or transfer your credit report and credit score to ITPL on your behalf.
• You also agree that your authorization can be automatically assigned to a Credit bureau(s) digitally/online/physically and this Service shall be provided to you in the manner consistent with the terms and conditions of the arrangement between ITPL and its Credit bureau partners like CRIF Highmark.
• You understand that while providing your credit report ITPL may charge you, at its sole discretion, for this and/or other services bundled together such as its analysis, explanation and/or assisting you to understand your credit report and credit score, loan viability check and report, etc. Such charges may be revised by ITPL from time to time at its sole discretion.
• You agree that additional Standard Terms and Conditions of the Credit bureaus will apply to your use of this Service.
• You hereby authorize ITPL to do all of the following in connection with providing you the Services:
o Verify your identity and share with Credit bureaus certain personal identifiable information e.g. name, PAN details, etc. about you;
o Request and receive your credit report and credit score from Credit bureaus, including but not limited to a copy of your credit report including credit score, at any time for so long as you have not opted out or unsubscribed from this service;
o To assign/transfer your authorization to different Credit bureaus, in any circumstance whatsoever, and accordingly provide credit report and credit score of such Credit bureau(s). The consent provided by you at the time of registration under these Terms of Service shall be valid for all Credit bureau(s) partnered with us.
o For obtaining your credit report, you agree that ITPL can reapply, to the Credit bureau(s) through multiple attempts, in order to provide you with your credit report and credit score. In the event ITPL is unable to obtain your credit report and/or credit score, for any reason whatsoever, you agree and acknowledge that you shall not hold ITPL liable in any manner. You understand and acknowledge that ITPL’s right to reapply to obtain your credit report shall be valid for a period of 6 months from the date you have applied on the Website for availing this Service, where you had provided consent to ITPL for directing the Credit bureaus to deliver and/or transfer your credit information to ITPL on your behalf.
3. Information we collect
In the course of providing this Service, we collect and process various personal identifiable and other information along with their documentary proofs, an indicative list is mentioned below -
3. Email Address
4. Date of Birth
5. Phone Number
8. Bank Statement
9. Income details
10. Employer details
• We obtain your credit report and credit score from Credit bureaus on your behalf
4. How we use your information
We may process and use your profile information in the following ways comprising generation of your loan viability and eligibility reports, matchmaking your requirement with products of financial institutions and provide you with personalized offers for products and services from ITPL and/or its business/marketing/banking and financial institution partners either directly or through its business partners as part of its assisted digital platform as also the following:
• To present you an overview of your credit profile including detailed information, where available;
• To provide assistance to you to understand your credit report and help you apply for financial institution’s products and services and with other ancillary services like credit assessment services and rectification services. Such ancillary services shall be governed by their respective terms and conditions including these Terms of Service;
• To provide you with customized recommendations and personalized offers of the products and services of ITPL and/or its business/marketing/banking and financial institution partners;
• To provide you with product matching features and also pre-approved offers per the eligibility criteria, from financial institution partners of ITPL;
• To provide assistance to you with regard to ancillary services by facilitating the process and you shall be bound by their respective terms and conditions including these Terms of Service and Use;
• To send you information / personalized offers via email, text, sms, whatsapp, call or online display or other modes/channels at the sole discretion of ITPL;
• To present you with reward / loyalty programs of ITPL from time to time and when you avail these programs, then you shall be bound by their respective terms and conditions (which shall be notified from time to time) including these Terms of Service;
• To facilitate historical or comparative information or insights about your data and information, through third parties, in accordance with applicable laws;
• To share your credit information with financial institutions for the loan application through the Website and/or mobile application powered by ITPL, to enable them to process your application (such as your loan/credit card application);
• To aggregate anonymous data for the purpose of data analytics and reporting;
• To ensure that you have the best online experience on the ITPL platform/Website.
5. Your ITPL Account
• Eligibility: To avail of the Service, you must register on the website or mobile app and/or via business partner facing assisted digital platform and create an account. By registering with ITPL for this Service, you agree and certify that:
1. You are 18 years of age or older;
2. Any information you provide to us, both when you register and in the future, is and will be true, accurate, current and complete;
3. You are only registering an account for yourself and agree not to use this Service to attempt to obtain/receive credit information about any other person than you;
4. You will keep all information up to date;
5. You have registered voluntarily and ITPL and/or its business partners have not made any promises or representations to you in order to induce you to provide your credit information or seek any consent or authorization in this regard.
• Option to “Unsubscribe” from your credit information account
The authorization granted by you is effective until your credit information account section, is unsubscribed by either you or ITPL and you discontinue all use of our Service via a specific email request to email@example.com, whereby basis receipt of email we will discontinue to provide you with the Services and you shall not receive future updates from our side.
7. Disclaimer of Warranties
• This Service is for informational, analytical and loan facilitation purposes only, and is intended to provide helpful and informative material on the subjects addressed.
• ITPL does not control your credit report and credit score, which is a statistical analysis of information contained in your credit file as maintained in the system and database of Credit bureaus, and we cannot change that information for you.
• If information in your credit report is inaccurate and is affecting your credit score, you have the right to dispute it either by directly contacting the Credit bureaus or through its Website.
• IPTL does not guarantee or warranty the provision as also the quality of loan products and/or services and/or other offerings of its business/marketing/banking and financial institution partners
INFORMATION AND/OR SERVICES OFFERED ON ITPL Platform WEBSITE ARE PROVIDED "AS IS" WITHOUT ANY EXPRESS OR IMPLIED WARRANTY OF ANY KIND, INCLUDING WARRANTIES OF CORRECTNESS, COMPLETENESS, ACCURACY MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, OR NON-INFRINGEMENT. IN NO EVENT WILL ITPL BE LIABLE TO ANY PARTY FOR ANY DAMAGES OF ANY KIND, INCLUDING BUT NOT LIMITED TO DIRECT, INDIRECT, SPECIAL OR CONSEQUENTIAL DAMAGES ARISING OUT OF THE USE OR INABILITY TO USE THIS WEBSITE, OR ANY LINKED WEBSITE, INCLUDING WITHOUT LIMITATION, LOST PROFITS, LOSS OF USE, BUSINESS INTERRUPTION, OR OTHER ECONOMIC LOSSES, LOSS OF PROGRAMS OR OTHER DATA, WHETHER IN AN ACTION OF CONTRACT, NEGLIGENCE OR OTHER ACTION, EVEN IF ITPL IS ADVISED OF THE POSSIBILITY OF SUCH DAMAGES.
8. Limitations and Restrictions on the Use of Service
• You agree to provide true, accurate and current information such as your full name, date of birth and address of residency, bank statement, income details, etc. to us. The Service provided herein is subject to you providing true and accurate information and providing all the required documents as requested by ITPL. Each Service request is for one person only; We do not accept joint request for this Service.
• A Service request may be rejected by the Credit bureaus in the following events:
1. The particulars furnished by you do not match the information existing with the Credit bureaus;
2. Data rejected by the data collection system maintained by Credit bureaus;
3. Incomplete upload of data provided by you in relation to this Service. ITPL shall inform you of such rejection.
• Any analysis and estimates we provide as part of our Service are for illustrative and informational purposes only. Our analysis and estimates are based on certain assumptions and use only the data we have. Our analysis and estimates are neither endorsed by, nor commissioned by, any of our affiliates/business/marketing/banking and financial institution partners.
• The methodology we use to determine which offers, analysis, or other information is presented or highlighted is proprietary and we may elect to consider, ignore, emphasize, or de-emphasize certain factors in our sole and absolute discretion.
• We do not guarantee that the information we present as part of our Service, including credit report or credit score information, is the same information that may be used or reviewed by a third party to assess your creditworthiness or eligibility for any particular product or service.
You agree to indemnify, defend and hold harmless ITPL and/or its business/marketing/banking/financial institution partners and its affiliates, and their respective officers, directors, employees, agents, licensors and suppliers, and any third party providers of information to this Service, from and against any and all losses, expenses, damages and costs, including reasonable attorneys' fees, resulting from your violation of these Terms of Service or any terms and conditions applicable to Service, or your violation of the intellectual property rights of ITPL, Credit bureaus, or any of those other parties.
You shall not sue or otherwise make or present any demand or claim, and irrevocably, unconditionally and entirely release, waive and forever discharge ITPL and/or its business/marketing/banking/financial institution partners, its officers, directors, employees, agents, licensees, affiliates, successors and assigns, jointly and individually (hereinafter "Releasee"), from any and all manner of liabilities, claims, demands, losses, claims, suits, costs and expenses (including court costs and reasonable attorney fees) ("Losses"), whatsoever, in law or equity, whether known or unknown, which you ever had, now have, or in the future may have against the Releasee with respect to the submission of your credit information and / or your decision to provide ITPL with the authority to deliver your credit information under this Service. You agree to defend, indemnify, and hold harmless the Releasee from and against any and all Losses resulting from claims made against ITPL and/or its business/marketing/banking/financial institution partners and the Credit bureaus by third parties arising from and in connection with this authorization.
11. Links to Other Websites
For purposes of convenience, this Service of ITPL' may contain links to third party websites. ITPL makes no representations or warranties about any third party websites that you may access through the links. By providing a link to those websites, ITPL does not endorse, adopt, or otherwise accept any responsibility for the content or use of those websites.
12. Compliance, Applicable laws and Jurisdiction
You must comply with all applicable laws when using our Service. You are not permitted to use our Service to obtain any consumer credit report, score or other consumer credit information under false pretenses or in violation of applicable laws.
These Terms of Service shall be governed by and understood in accordance with laws of India and Courts in the city of Chennai, India will have exclusive jurisdiction in regard to any dispute arising thereof.
13. Other Terms and Conditions
1. The terms and conditions mentioned herein may be modified by ITPL at its sole discretion from time to time.
2. The rights granted in these Terms of Service are personal. You may not assign, sub-license or otherwise transfer any of your rights under these conditions.
3. If a court finds any part of these Terms of Service to be invalid, the remaining parts of these Terms of Service shall continue unaffected.
4. If either of us fails to exercise any right or legal remedy available to either you or us any such failure shall not prevent you or us from relying on these at a later date.
5. Headings in these Terms of Service are for convenience only and will have no legal meaning or effect.
8. Notwithstanding the foregoing, any section of these Terms of Service that by its nature is intended to survive termination of these Terms of Service or your use or access to our Services or will survive such termination.
Consumer Consent for Credit Information from CRIF Highmark:
A. The Company is my lawfully appointed agent and he / it has agreed to be my agent for the purposes, including, without limitation, to receive the Consumer Credit Information from CIC on my behalf and use it in the manner consistent with the Agreement entered into between the Company and CIC, and the Company has granted its consent for being appointed for the aforesaid purpose.
B. I grant my unconditional consent to the Company to receive the Consumer Credit Information from CIC on my behalf and use it in the manner consistent with the consistent with the Agreement entered into between the Company and CIC, as the case may be, and the Company has granted its consent for being appointed for the aforesaid purpose. I hereby represent and acknowledge that: (a) I have carefully read the terms and conditions of the Agreement entered into between the Company and CIC understood the same; or (b) the Terms of Understanding in relation to the use of the Consumer Credit Information has been agreed between me and the Company.
C. I hereby expressly grant unconditional consent to, and direct, CIC to deliver and / or transfer my Consumer Credit Information to the Company on my behalf.
I shall not hold CIC responsible or liable for any loss, claim, liability, or damage of any kind resulting from, arising out of, or in any way related to: (a) delivery of my Consumer Credit Information to the Company; (b) any use, modification or disclosure by the Company of the contents, in whole or in part, of my Consumer Credit Information, whether authorized or not; (c) any breach of confidentiality or privacy in relation to delivery of my Consumer Credit Information to the Company ; (d) for any use made by the Company which is contrary to the Agreement entered into between the Company and CIC
E. I acknowledge and accept that: (a) CIC has not made any promises or representations to me in order to induce me to provide my Consumer Credit Information or seek any consent or authorization in this regard; and (b) the implementation of the Agreement between CIC and the Company is solely the responsibility of the Company
G. I understand that in order to deliver the product to me, I hereby authorize Company, to obtain my Consumer Credit Information from CIC.
I. I UNDERSTAND THAT THE PRODUCT IS PROVIDED ON AN “AS-IS”, “AS AVAILABLE” BASIS AND CIC EXPRESSLY DISCLAIMS ALL WARRANTIES, INCLUDING THE WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, AND NON-INFRINGEMENT.
J. I shall not sue or otherwise make or present any demand or claim, and I irrevocably, unconditionally and entirely release, waive and forever discharge CIC, its officers, directors, employees, agents, licensees, affiliates, successors and assigns, jointly and individually (hereinafter “Releasee”), from any and all manner of liabilities, claims, demands, losses, claims, suits, costs and expenses (including court costs and reasonable attorney fees) (“Losses”), whatsoever, in law or equity, whether known or unknown, which I ever had, now have, or in the future may have against the Releasee with respect to the submission of my Consumer Credit Information and / or my decision to provide CIC with the authority to deliver my Consumer Credit Information to the Company. I agree to defend, indemnify, and hold harmless the Releasee from and against any and all Losses resulting from claims made against CIC L by third parties arising from and in connection with this letter.
K. I agree that the terms of this confirmation letter shall be governed by the laws of India and shall be subject to the exclusive jurisdiction of the courts located in Mumbai in regard to any dispute arising hereof. CIC is entitled to assign its rights hereunder to any third person without taking my prior written consent.