icici

Terms and Conditions for Digital Credit Facility
1. Definitions
  • a. "Affiliate" means and includes:
    • - any company which is the holding or subsidiary company of ICICI Bank , or
    • - a Person under the Control of or under common Control with ICICI Bank, or
    • - any Person, in 26% or more of the voting securities of which, ICICI Bank has a direct or beneficial interest or Control.

    For the purpose of the definition of Affiliate, "Control" when used with respect to any Person, means the power to direct the management and policies of such Person, directly or indirectly, whether through the ownership of the vote carrying securities, by contract or otherwise howsoever and "Person" means any individual, company, firm, corporation, a partnership, trust or any other entity or organization or other natural or legal person.

  • b. “Agent” or “CSP” or “Customer Service Point” shall mean Paytm’s personnel who will facilitate the Enrollment process.
  • c. “Business Day” means a day when the office of ICICI Bank is open for normal business transactions.
  • d. “Credit Facility/ PayLater/ Facility” is a payment mode provided to PayLater Facility Holder(s) which is backed by a credit facility issued by ICICI Bank. Paylater allows customer to make purchases over the Paytm Platform and pay for these purchases at a later date, with or without interest as per the terms and conditions mentioned herein. The issue/renewal of the said Facility is at the sole discretion of ICICI Bank and it may choose to not issue/ renew the Facility to any applicant that it may deem fit.
  • e. “Credit Limit” means the limit as sanctioned by ICICI Bank up to which the PayLater Facility Holder (as defined below in Clause 1(n)) is authorized to spend on the Paytm App using the Facility issued to him.
  • f. “Debit Card” means any debit card of any bank powered by Mastercard or Visa or any other card scheme.
  • g. “Electronic Payments” means any mode of electronic payment such as UPI, IMPS etc.
  • h. “Eligible Applicant” means such PayLater Applicant (as defined below in Clause 1(l)) considered eligible, for the issuance of the Facility, as per the criteria set by ICICI Bank.
  • i. “Enrollment process” shall mean the process of capturing such data by Paytm from the PayLater Applicant that may be required by ICICI Bank for providing the Facility.
  • j. "Merchant/ Vendor" means any such Merchant or Vendor (and its successors and permitted assigns) who offers products/ Services through the Paytm Platform, and is authorized by ICICI Bank and Paytm to accept payment transaction made using PayLater as a payment mode.
  • k. “Net banking” means online banking facility provided by various banks.
  • l. “PayLater Applicant" means any user of Paytm Platform who is or above the age of 18, with an address within India or its territories, and who are found eligible for the invitation for applying for the Facility by the ICICI Bank.
  • m. "Payment Due Date" means the date every month, on which the payment in respect of the charges incurred by usage of the Facility by the PayLater Facility Holder falls due as communicated through the Statement.
  • n. “Paytm Platform” means the website www.paytm.com and/or Paytm mobile application or the Paytm interface that is used to make the payment on other websites and applications
  • o. “PayLater Facility Holder” means Eligible Applicants who have been issued the PayLater Facility by ICICI Bank.
  • p. “Pre-approved Customers” shall mean such Paytm users, who are already an ICICI Bank Customer, and who have been communicated to Paytm as being eligible for the PayLater Facility.
  • q. "MITC" means the Most Important Terms and Conditions governing the PayLater Facility issued by ICICI Bank, a copy of which is provided by ICICI Bank to the Facility Holder and is available on _______www.icicibank.com________________.
  • r. "Primary Terms and Conditions" mean the terms and conditions governing the PayLater Facility issued by ICICI Bank, as is available on ______ www.icicibank.com___.
  • These "Terms and Conditions/ " shall mean the terms and conditions for the PayLater Facility.
  • (i) a reference to an "amendment" includes a supplement, modification, novation, replacement or re-enactment and "amended" is to be construed accordingly; an "authorization" or "approval" includes an authorization, consent, clearance, approval, permission, resolution, license, exemption, filing and registration; "law" includes any constitution, statute, law, rule, regulation, ordinance, judgment, order, decree, authorization, or any published, directive, guideline, requirement or governmental restriction having the force of law, or any determination by, or interpretation of any of the foregoing by, any judicial authority, whether in effect as of the date of signing/submission of the Application Form or thereafter and each as amended from time to time.
  • (ii) the singular includes the plural (and vice versa);
  • (iii) the headings in these Terms and Conditions are inserted for convenience of reference only and are to be ignored in construing and interpreting the Terms and Conditions;
  • (iv) reference to the words "include" or "including" shall be construed without limitation;
  • (v) reference to a gender shall include references to the female, male and neuter genders;
  • (vi) all approvals, permissions, consents or acceptance required from ICICI Bank for any matter shall require the prior, written approval, permission, consent or acceptance of ICICI Bank;
  • (vii) references to VISA/MASTERCARD regulations pertain to the guidelines issued by VISA/MASTERCARD to all the member banks of its network.
  • (viii) in the event of any disagreement or dispute between ICICI Bank and the PayLater Facility Holder regarding the materiality of any matter including of any event, occurrence, circumstance, change, fact, information, document, authorization, proceeding, act, omission, claims, breach, default or otherwise, the opinion of ICICI Bank as to the materiality of any of the foregoing shall be final and binding on the PayLater Facility Holder.
  • (ix) the usage of the words "PayLater Facility Holder Agreement" on the Paytm Platform or or elsewhere, means these Terms and Conditions.
2. Facility Services:
The Facility is the property of ICICI Bank. ICICI Bank reserves the right to (1) ascertain the credit worthiness of the PayLater Applicant by obtaining credit bureau report and such other reports as it may deem necessary, and by accepting these Terms and Conditions, PayLater Applicant shall permit ICICI Bank to conduct credit bureau check on them and/or share their data with credit bureaus, and (2) decline to issue a Facility to any PayLater Applicant at its sole discretion. The Facility is not transferable and its usage is subject to the terms mentioned herein and any additional conditions stipulated by ICICI Bank from time to time. The PayLater Facility Holder promises to give her/his full consent and cooperation in on-boarding process as communicated by Paytm. The ICICI Bank customer care centre is accessible to all the PayLater Facility Holder. The PayLater Facility Holder availing of any services /facilities including but not limited to, enhancement of credit limit, enquiry on transactions, bill amount due, statement details, Payment Due Date, etc. through ICICI Bank customer care centre, shall at all times continue to be bound by the terms and conditions stipulated by ICICI Bank with respect to the services / facilities and the mode of availing such facilities / services, as amended from time to time.
3. Eligibility:
The eligibility criteria for the invitation to apply or issuance of the Facility to a PayLater Applicant shall be decided by the ICICI Bank internally. The PayLater Applicants shall be communicated the requirements for the issuance of the Facility before Enrollment Process commences, after she/he has applied for the Facility over the Paytm Platform.
4. Issuance and Usage of the Facility:
  • a. The Facility shall be issued to only such PayLater Applicants who are found eligible by the ICICI Bank.
  • b. The Facility issued can have maximum Credit Limit of Rs._50,000__.
  • c. The Facility issued to the Paylater Facility Applicant will be valid for a period of 1 year, during which such Facility Holder can use this Facility to make INR purchases on the Paytm Platform.
  • d. The Facility shall be renewable at the sole discretion of ICICI Bank
  • e. The Facility Holder hereby agrees to avail the Facility on the precondition that he will not use the Facility, or any part thereof, towards capital market or for the purpose of repaying his ICICI Bank Credit Card out-standings or for paying for the Insurance products.
  • f. All disputes shall be a matter between and will be settled by the PayLater Facility Holder with the concerned Merchant. ICICI Bank shall not be liable, in any manner whatsoever, for the same.
  • g. The Facility may be used: (i) within the Credit-Limit notified by ICICI Bank to the PayLater Facility Holder.
  • h. The PayLater Facility Holder's right to use the Facility shall determine forthwith: (i) In the event of termination pursuant to Clause __ below; or (ii) in the event of Fraud committed by someone else using PayLater Facility Holder’s Mobile, misuse of the PayLater Facility or theft of Mobile of the PayLater Facility Holder.
  • i. By usage of the Facility, the PayLater Facility Holder is deemed to have made a standing request that renewal of period of the Facility until such time as the ICICI Bank customer care centre is notified otherwise by the PayLater Facility Holder, and such renewal shall be subject to the sole discretion of ICICI Bank.
  • j. In the event of a Facility expiration or at the time of renewal of the Facility, ICICI Bank Limited at its sole discretion reserves the right to provide a Facility type that has different Credit Limit from the existing Facility held by the PayLater Facility Holder. The credit limits on any Facility at any point in time are as per sole discretion of ICICI Bank Limited.
  • k. The PayLater Facility Holder shall act in good faith at all times in relation to all dealings with the Facility and ICICI Bank.
  • PayLater Facility Holder agrees to be vigilant regarding the payment transactions happening through the PayLater Facility issued to him, and shall intimate the ICICI Bank of any misuse, fraud or theft, as soon as the same is discovered by her/him, that may hay have occurred.
  • By applying for and/or using the PayLater Facility, Paylater Applicant/ Paylater Facility Holder, gives permission to ICICI Bank and/or Paytm to share their data with regulatory authorities as and when required.
  • l. The PayLater Facility Holder agrees that he will not use the Facility as payment for any illegal/unlawful purchase/purposes.
  • m. The Facility is issued for personal expenses and purposes only. The PayLater Facility Holder must not use the Facility to purchase anything for resale, for commercial or business purposes. The Facility should be used only for lawful, bonafide personal purposes and must not be used for any money laundering, anti-social or speculative activities or must not be exploited commercially in business (e.g. for working capital purposes).
  • n. If the Facility is found to be used for prohibited, restricted, commercial purposes or any purposes as mentioned above, ICICI Bank may, at its sole discretion, exercise its right to close the concerned Facility. ICICI Bank has the right to enquire over phone or through other means of formal communication and seek details, information, proofs, etc. about the Facility transactions, pattern of usage etc. and the PayLater Facility Holder is contractually bound to provide the information sought by ICICI Bank, from time to time. Non- satisfactory responses or no responses from the PayLater Facility Holder may lead to blocking/closure of the Facility by ICICI Bank.
5. Personal Identification Number
  • PayLater Applicant will be issued a Paytm Passcode (PIN) to enable him to use the Facility. The PIN shall be communicated by the Paytm to the PayLater Facility Holder.
6. Billing and Repayment:
  • a. The PayLater Facility Holder shall repay the Facility and interest thereon on a monthly basis. The interest shall be at such rate which has been indicated by ICICI Bank to the Facility Holder at the time of making the offer for the Facility.
  • b. The bill amount, may include such other charges, apart from principle amount and the interest levied, which are applicable as per ICICI Bank’s policy.
  • c. The bill for the use of the said Facility will be generated by ICICI Bank and will be notified to the Facility Holders through the Paytm Platform.
  • d. Once the bill is generated the Facility Holder shall be required to pay it through a Debit Card, Electronic Payments, or Net Banking transaction.
  • e. The Facility Holder shall be required to pay the entire amount of the bill for a particular month on the Payment Due Date as indicated in the bill and the same shall not be permitted to be carried forward/included in the next bill. In the event the payment is not made by the Payment Due Date, it shall be construed as a default by the PayLater Facility Holderand PayLater Facility Holdershall become liable to pay the amount together with late payment charges, as specified in the Primary Terms and Conditions.
  • g. The Facility Holder cannot use another credit facility, such as a Credit Card or any Facility similar to PayLater Facility offered on any other platform, to pay their bill.
  • h. If the Facility Holder pays an amount which is in excess of the amount which is due to her/him, then such excess amount shall be settled against the bill generated in the next month’s billing cycle.
  • i. The PayLater Facility Holder may also choose to pay the Facility early before the generation of the bill, in such situation she/he will be communicated the bill amount due to him which he/she shall be required to pay.
  • j. ICICI Bank shall, without prejudice to all rights and remedies, have the right to call upon the Facility Holder to forthwith repay the Facility, all interest thereon and all other monies in respect of the Facility upon occurrence of Event of Default (as defined below in Clause 14) in repayment of the amount of the Facility and the Card Member shall be liable to repay all such amounts upon such demand.
7. Closure of Facility:
  • a. The Facility Holder may close the Facility at any time by paying the amount due to her/him and raising the request for closure of the Facility.
  • b. When the Facility Holder will raise the request for the closure of the Facility, the system shall check if any amount is due on the Facility Holder or if any excess amount has been paid by him/her and if no money is owed to or by the Facility holder then the Facility will be closed.
    Otherwise a system generated message will intimate the Facility Holder of the status and shall direct her/him to the process closing the loan by paying the balance.
8. Representation Warranties and Covenants by the Facility Holder
  • a. By clicking on the tab/button/ checkbox of “PayLater” option or any other button/checkbox of similar nature the Facility Holder, hereby signifies his consent to enter into agreement with ICICI Bank for availing PayLater Facility, and agrees to abide with Terms and Conditions of this Facility and till such time that the Facility Holder uses the PayLater Facility it shall be deemed that the Facility Holder agrees to and shall continue to adhere and abide by the Terms and Conditions.
  • b. By accepting these Terms and Conditions, the user of the Paytm Platform shall grant the permission to Paytm, to share such user’s data with the ICICI Bank.
  • c. The Facility Holder has understood method of calculation of the bill and the charges and the interest that shall be applicable on the same;
  • d. The Facility Holder shall have an option to renew the Facility at the end of the tenure The renewal shall be at the sole discretion of the ICICI Bank. In the event of failure of the Facility Holder to renew the Facility as stated above, ICICI Bank shall be entitled to call upon the Facility Holder to forthwith repay the Facility without prejudice to all rights and remedies against the Facility Holder;
  • e. The Facility Holder is deemed to have accepted these Terms and Conditions. The PayLater Facility Holderis aware that these terms and conditions are also available on __www.icicibank.com__________ and has read and understood the same;
  • f. The Facility Holder shall only use this Facility for the purchases made upon the Paytm Platform from such merchants and vendors who have been authorized by the Paytm and ICICI Bank to accept the payment transactions made using the Facility.
  • g. The PayLater Facility Holder shall be responsible for the payment of taxes, duties, levies (including service tax), etc., in connection with the Facility.
9. Cancelled Transaction or Refunds:
  • a. In the event of cancellation or refunds in relation to a transaction undertaken by the Facility Holder using PayLater, such Facility Holder will continue to be liable for paying the bill amount to ICICI Bank within the timelines specified in the bill.
  • b. In the event of a cancellation/refund request being made by a Facility Holder, ICICI Bank shall refund the transaction amount to the Facility Holder, in accordance with the terms of the Paytm Platform. The refunded transaction amount (less cancellation charges, if any) (“Refund Amount”) shall be credited to the Paylater account of such Facility Holder, within the 5 businessdays and subject to availability of funds from the Merchant/Vendors from whom such purchases were made.
Auto Debit Facility
The PayLater Facility Holder may avail of auto debit facility on their Paytm Payment Bank Account for making the payments of the Facility dues. Such a facility would be activated only after getting an explicit digital consent from the customer. On availing the auto debit facility, the Paytm Payment bank account of the PayLater Facility Holder (details regarding the same shall be shared with ICICI Bank) will be debited, for the amount mentioned in the bill, on the Payment Due Date as indicated in the communication shared on the Paytm Platform. Provided, however, that the Payment Due Date should be a Business Day otherwise the bank account shall be debited on next Business Day. In the event if the Paytm wallet does not have sufficient funds on the Payment Due Date, the PayLater Facility Holder shall be liable to pay all the charges applicable in addition to the bill amount due to him. The PayLater Facility Holder agrees and confirms that all the particulars submitted to ICICI Bank/Paytm by her/him for availing of the auto debit facility shall be correct and complete. ICICI Bank shall not be liable if the auto debit transaction is delayed or not effected at all for reasons of incomplete or incorrect information, technical difficulty, or for any reason whatsoever. The PayLater Facility Holder may cancel the auto debit facility for the repayment of the PayLater as any time by_____________________
Set Off
  • (i) ICICI Bank and its group companies shall have the paramount right of set-off and lien, irrespective of any other lien or charge, present as well as future on the deposits of any kind and nature held/ balances lying in any other account(s) of the PayLater Facility Holder maintained with ICICI Bank and / or its group companies, whether in single name or joint name(s) and on any monies, securities, bonds and all other assets, documents and properties held by/ under the control of ICICI Bank and/or its group companies (whether by way of security or otherwise pursuant to any contract entered/ to be entered into by the PayLater Facility Holder in any capacity) towards the satisfaction of the PayLater Facility Holder's liability. ICICI Bank and/ or its group companies are entitled without any notice to the PayLater Facility Holder, to settle any indebtedness whatsoever owed by the PayLater Facility Holder to ICICI Bank and/or its group companies, (whether actual or contingent, or whether primary or collateral, or whether joint and/or several) hereunder or under any other document/ agreement, by adjusting, setting-off any deposit(s) and/or transferring monies lying to the balance of any account(s) held by the PayLater Facility Holder with ICICI Bank and/or its group companies notwithstanding that the deposit(s)/ balances lying in such account(s) may not be expressed in the same currency as such indebtedness. ICICI Bank's and its group companies' rights hereunder shall not be affected by the PayLater Facility Holder 's bankruptcy, death or winding-up. It shall be the PayLater Facility Holder 's sole responsibility and liability to settle all disputes/ objections with any such joint account holders.
  • (ii) In addition to the above mentioned right or any other right which ICICI Bank and its group companies may at any time be entitled whether by operation of law, contract or otherwise, ICICI Bank is authorized / will be entitled: (a) to combine or consolidate at any time all or any of the accounts and liabilities of the PayLater Facility Holder with or to any branch of ICICI Bank and/or its group companies; (b) to sell or otherwise dispose off any of the PayLater Facility Holders’ securities or properties held by ICICI Bank by way of public or private sale or otherwise without having to institute any judicial proceeding whatsoever and retain/appropriate from the proceeds derived there from the total amounts outstanding to ICICI Bank and/or it group companies from the PayLater Facility Holder, including costs and expenses in connection with such sale or disposal; and (c) in case of cross currency set-off, to convert an obligation in one currency to another currency at a rate determined at the sole discretion of ICICI Bank and/or its group companies.
10. Limitation of Liability:
  • a. The Facility Holder acknowledges that ICICI Bank’s liability with respect to the Facility shall be limited and shall be as per these Terms and Conditions. ICICI Bank reserves the right, in its sole discretion and without assigning any reason, to issue or not issue the PayLater Facility to an Applicant or exclude certain Facility Holders from availing the Paylater in the future.
  • b. The Facility Holder acknowledges that the Paylater is an electronic payment mechanism and may be prone to similar technical problems and interruption as the Paytm Platform.
  • c. The Facility Holder further agrees that ICICI Bank reserve the right to suspend the Paylater Facility, forthwith without assigning any reason whatsoever, at their sole discretion. In the event of such suspension, the Facility shall be frozen and the Facility Holder shall not be able to transact using the said Facility, and shall be required to close the Facility as per clause5 of these Terms and Conditions
  • d. The Facility Holder agrees and confirms that the PayLater Facility is being provided by ICICI Bank and Paytm on a best efforts basis with all efforts to keep these valid and subsisting. ICICI Bank and Paytm shall not in any manner be liable to a Facility Holder for failure or delay in providing the PayLater Facility.
  • e. Facility Holder assumes the entire risk and liability of availing the Paylater Facility and shall indemnify ICICI Bank and Paytm in the event of default and/or fraud committed by her/him, in no event shall ICICI Bank or Paytm be liable to the Facility Holder for any special, incidental, indirect, punitive or consequential damages whatsoever (including, without limitation, damages of loss of goods or services, loss of business profits, business interruption, loss of information, or any other pecuniary loss) arising out of the use of, or inability to use or access of the PayLater Facility or for any security breach or any virus, bug, unauthorized intervention, defect, or technical malfunctioning of the Paytm Platform and/or ICICI Bank’s systems, whether or not foreseeable and whether or not Paytm and/or ICICI Bank have been advised of the possibility of such damages, or based on any theory of liability, including breach of contract or warranty, negligence or other tortious action, or any other claim arising out, of or in connection with, your use of, or access to, the Facility. Further, ICICI Bank and/or Paytm shall not be liable to the Facility Holder for any temporary disablement, permanent discontinuance of the services by ICICI Bank and/or Paytm or for any consequences resulting from such actions.
11. Exclusion of Liability:
  • Without prejudice to the remedies available to ICICI Bank and these Terms, ICICI Bank shall be under no liability whatsoever to the PayLater Facility Holder in respect of any loss or damage arising directly or indirectly out of:
  • a) any defect in any goods or services supplied;
  • b) the refusal of any Merchant to honour or accept the Facility;
  • c) the malfunction of any computer terminal;
  • d) the giving of Transaction Instruction by any person other than by a PayLater Facility Holder;
  • e) handing over of the mobile phone by the PayLater Facility Holder to anybody;
  • g) the exercise by ICICI Bank of its right to terminate any Facility;
  • h) any injury to the credit character and reputation of the PayLater Facility Holder alleged to have been caused by the closure of the Facility and/or, any request for its return or the refusal of any Merchant/ mail order establishment to honor or accept the Facility;
  • i) any mis-statement, misrepresentation, error or omission in any details disclosed by ICICI Bank; In the event a demand or claim for settlement of outstanding dues from the PayLater Facility Holders is made, either by ICICI Bank or any person acting on behalf of ICICI Bank, the PayLater Facility Holders agrees and acknowledges that such demand or claim shall not amount to be an act of defamation or an act prejudicial to or reflecting upon the character of the PayLater Facility Holders, in any manner.
  • The PayLater Facility Holder acknowledges that the provision of the facility of receiving alerts on mobile phone number or e-mail, provided by the PayLater Facility Holder while applying for the Facility, is dependent on the infrastructure, connectivity and services to be provided by service providers engaged by ICICI Bank or otherwise. The PayLater Facility Holder accepts that timelines, accuracy and readability of alerts sent by ICICI Bank will depend on factors affecting other service providers engaged by ICICI Bank or otherwise. ICICI Bank shall not be liable for non-delivery or delayed delivery of alerts, error, loss or distortion in transmission of alerts to the PayLater Facility Holders.
12. Termination:
  • ICICI may forthwith change, modify, terminate, and/or suspend, in whole or in part, these Terms and Conditions, and/or the Facility provided hereunder, for any reason including for reasons of breach of these Terms and Conditions.
13. Notices and Complaints:
  • All notices, requests, demands, waivers, complaints, queries and other communications required or permitted to be given hereunder in relation to the Facility under these Terms and Conditions, shall be submitted to ICICI Bank or Paytm as per the Grievance Redressal Mechanism accessible at ________________. Any other notices, requests, demands, waivers, complaints, queries and other communications arising out of any acts or omissions of the merchants or vendors to whom the payment was made using the PayLater Facility, including but not limited to deficiency of service, quality, merchantability of products or services, shall be resolved between the Facility Holder and such merchant or vendor only and ICICI Bank and/or Paytm shall have no responsibility or liability whatsoever in this regard.
14. Event of Default:
  • If one or more of the events specified in this clause ("Events of Default") occur or shall have occurred, ICICI Bank may call upon the Facility Holder to close the Facility by a notice to the Facility Holder:
  • a. The Facility Holder’s commission of a breach of any of the terms, conditions and covenants herein contained or having made any misrepresentation to ICICI Bank and/or Paytm.
  • b. The failure of Facility Holder to pay the bill generated within the specified timeline.
  • c. The Facility Holder having been declared an insolvent.
  • d. Any proceedings for misconduct having been initiated against the Facility Holder.
  • e. The Facility Holder's failure to furnish any information or documents that may be required by ICICI Bank and/or Paytm.
  • f. The Facility Holder's entering into any compromise/arrangement with her/his creditors.
  • g. The Facility Holder's defaulting on any of the terms and conditions of any other loan or facility provided by ICICI Bank to the Facility Holder.
  • h. The existence of any other circumstances which, in the sole opinion of ICICI Bank, jeopardizes ICICI Bank's interest.
  • i. Upon the occurrence of any event of default as specified above, ICICI Bank shall be entitled to exercise rights and remedies available to it under the Terms and Conditions.
15. Returned Payments
  • In case the transaction initiated by the PayLater Facility Holder, towards payment of his Facility dues, is not honored, or must be returned to the PayLater Facility Holder because it cannot be processed, ICICI Bank reserves the right to initiate legal proceedings against the PayLater Facility Holder and will levy fee at its sole discretion and/or temporarily/permanently cancel the Facility. The PayLater Facility Holder will also be liable to pay the late payment charges or any other charges as may be decided by ICICI Bank.
16. Quality of Goods & Services
  • ICICI Bank shall not, in any way, be responsible for merchandise, merchandise warranty or services purchased, or availed of by the PayLater Facility Holder from Merchants, including on account of delay in delivery, non-delivery, non-receipt of goods or receipt of defective goods by the PayLater Facility Holder. It must be distinctly understood that the Facility is purely a facility to the PayLater Facility Holder to purchase goods and/or avail of services, ICICI Bank holds out no warranty or makes no representation about quality, delivery or otherwise of the merchandise. Any dispute or claim regarding the merchandise must be resolved by the PayLater Facility Holder with the Merchant. The existence of the claim or dispute shall not relieve the PayLater Facility Holder of his obligation to pay her/his dues to ICICI Bank and the PayLater Facility Holder agrees to pay such charges promptly.
17. Disclaimer:
  • The products, services and offers referred to herein are subject to the terms and conditions governing them as specified by ICICI Bank / third party from time to time and are offered at the sole discretion of ICICI Bank / third party. Nothing contained herein shall constitute or be deemed to constitute an advice, invitation or solicitation to purchase any products/ services of ICICI Bank / third party. ICICI Bank makes no representation about the quality, delivery, usefulness or otherwise of the goods / services offered by the third party.
  • ICICI Bank may, at its sole discretion, utilize the services of external service provider/ s or agent/s
  • "ICICI Bank" and "I-man" logos are trademark and property of ICICI Bank Ltd. Misuse of any intellectual property, or any other content displayed herein is strictly prohibited. and on such terms as required or necessary, in relation to its products/ services.
18. Miscellaneous:
  • a. These terms And Conditions and/or Policies may be varied, amended or modified, in whole or in part, by ICICI Bank at any time without notice to the Facility Holder. The last amended version shall be available on the Paytm Platform at all times.
  • b. ICICI Bank and/or Paytm may assign, in whole or in part, the benefits or obligations of these terms And Conditions to its affiliates, or any other company, for the reasons including but not limited to pursuant to a restructuring or re-organization or demerger of its organization or operations causing a change in management or any other reason whatsoever. ICICI Bank and/or Paytm shall not require approval or consent of the Facility Holder for the same, they can at their discretion provide an intimation of such assignment to the Facility Holder. However, the Facility Holder shall not assign, in whole or in part, the benefits or obligations of this Facility if issued to her/him.
  • c. ICICI Bank and/or Paytm shall not be liable for its failure to perform under these terms And Conditions as a result of occurrence of any force majeure events like act of god, fire, wars, sabotage, civil unrest, labour unrest, action of statutory authorities or local or central governments, change in laws, rules and regulations, affecting the performance of ICICI Bank, Paytm, and/or merchants and vendors providing goods/services over the Paytm Platform.
  • d. Unless otherwise expressly stated, failure to exercise or delay in exercising a right or remedy, hereunder shall not constitute a waiver of the right or remedy or a waiver of any other rights or remedies, and no single or partial exercise of any right or remedy, hereunder shall prevent any further exercise of the right or remedy or the exercise of any other right or remedy.
  • e. The terms and provisions of these terms And Conditions, by their nature and content are intended to survive the performance hereof by any or all parties hereto shall so survive termination.
  • f. If any provision, hereunder becomes, in whole or in part, invalid or unenforceable but would be valid or enforceable if some part of that provision was deleted, that provision shall apply with such deletions as may be necessary to make it valid. If any court/tribunal of competent jurisdiction holds any of the provisions, hereunder unlawful or otherwise ineffective, the remainder shall remain in full force and the unlawful or otherwise ineffective provision shall be substituted by a new provision reflecting the intent of the provision so substituted.
  • g. By clicking on the tab/button/ checkbox of “_________” option or any other button/checkbox of similar nature, (i) you confirm that you are eligible under applicable law to contract (ii) you consent to conduct transactions, and accept the Terms And Conditions (iii) you consent to receive communications, notices and information from ICICI Bank and/or Paytm and share such information as may be required by ICICI Bank and/or Paytm during the Enrollment Process. Electronic communications shall be deemed to have been received by Facility Holder when ICICI Bank and/or Paytm send the electronic communication to the email address / mobile number / details provided by you during the Enrollment Process, or when the electronic communication is sent as a notification on the Paytm Platform.
  • h. Details of the processing fee, foreclosure fee, service tax and interest rate applicable on the Facility shall be as per the amortization schedule provided by ICICI Bank to the Facility Holder. Details of all other charges shall be as per the MITC.
  • i. Nothing contained in the Terms and Conditions shall be construed as an obligation of ICICI Bank to continue to offer the Facility after the date of termination of the Facility. ICICI Bank reserves the right at any time, without previous notice, to add, alter, modify, change or vary all or any of the Terms and Conditions.
  • j. The Facility shall be available on the Paytm Platform only, subject to the available Credit-Limit and will be provided to the Facility Holder requesting for the Facility, at the sole discretion of ICICI Bank.
  • k. The competent courts in Mumbai shall have exclusive jurisdiction to deal with any dispute that may arise out of the Terms and Conditions or in respect of the Facility. The existence of a dispute, if any, shall not constitute a claim against ICICI Bank.
  • l. In addition to the general right to set off or other right conferred by law or under any other agreement, ICICI Bank may, without notice, set off or transfer money standing to his/her credit in such other account(s) that the Facility Holder maintains with ICICI Bank and its group companies in or towards the satisfaction of the Facility Holder's liability to ICICI Bank under his/her the Facility issued to him.
  • m. The Terms and Conditions governing the Facility shall be in addition to and not in substitution or derogation to the MITC.