TERMS AND CONDITIONS OF ‘GOLD ACCUMULATION PLAN’ OR ‘GAP’ BY MMTC-PAMP – Online Demat, Trading, and Mutual Fund Investment in India

These “terms” and “Conditions of Use” (“Terms”) constitute an electronic record within the meaning of the applicable laws. This electronic record is generated by a computer system and does not require any physical or digital signatures. These Terms shall be in addition to and not in derogation to any other terms as stipulated from time to time. By transacting for GAP on the Fisdom Platform, you are agreeing to and accept these Terms between MMTC-PAMP and you.

In these Terms, references to “you”, or “Customer” shall mean the counterparty who transacts using the Fisdom “Platform”, being a natural person, buying Gold from MMTC-PAMP, transferring Gold to other GAP customer, redeeming Gold in the form of redeemable products sold by MMTC-PAMP, selling back Gold to MMTC-PAMP and receiving other related services in relation to GAP. “Platform” or “Fisdom Platform” shall mean, and include, the mobile platform (mobile apps) operated by Finwizard Technology Private Limited, that the Customer accesses for the GAP transactions through the Platform. “service providers” mean independent third party service providers, and references to the “Seller”, “MMTC-PAMP”, “we”, “us” and “our” shall mean MMTC-PAMP India Private Limited, the owner of the GAP offering and the entity that will sell Gold and provide all other GAP related services other than payment facility and the direct customer interface/support (“MMTC-PAMP PAMP Services”).
MMTC-PAMP reserves the right to change these Terms at any time. Such changes will be effective when posted on the Platform and shall be deemed to be notified to the Customer accordingly. Notwithstanding anything contrary, Customer shall be responsible for regularly reviewing the Terms, including amendments thereto as may be posted on the Platform and shall be deemed to have accepted the amended Terms by continuing the use of Platform.
The Customer represents and warrants that these Terms constitutes a legal, valid and binding obligation of the Customer and that all orders to be placed and transactions to be conducted under these Terms are lawful;
In executing and giving effect to these Terms, the Customer does not and will not infringe any provision of any other document or agreement to which the Customer is a party, nor any law or judgment/order binding upon it;
MMTC-PAMP shall be entitled to collect, store and share relevant information and documents provided by the Customer on the Platform for KYC purposes. Further, as and when required by MMTC-PAMP, the Customer will be required to provide additional documents for fulfilling the KYC requirements through the Platform in case of change of your existing information or verification documents provided by you.
We reserve the right to deactivate your GAP account, in the event you fail to provide KYC documents / information to MMTC-PAMP within required timelines. The GAP account may be activated only upon submission of relevant documents.
All information supplied by the Customer on Fisdom Platform is, or at the time it is supplied will be, accurate in all material respects and the Customer will not omit or withhold any information which would make such information inaccurate
You shall be responsible for the correctness of information provided to MMTC-PAMP / on the Platform from time to time. If you have reasons to believe that there is an error in the information furnished to MMTC-PAMP / on the Platform, you shall immediately advise MMTC-PAMP in writing and forthwith provide correct / updated information.
MMTC-PAMP reserves the right to indefinitely suspend or terminate or block access to any GAP account on the Platform, with or without notice to you, in the event the KYC documents / information are found to be incorrect or authenticity of the documents / information is found to be doubtful. You hereby undertake to indemnify and keep indemnified MMTC-PAMP against any and all losses, claims, liabilities costs etc. which arise out of or relating to your failure to identify yourself and validate your account promptly and / or due to incorrect KYC documents / information.
You can offer to buy Gold worth Rs. 1000.00 (Rupee One Thousand Only) and above (as decided mutually between Fisdom and MMTC-PAMP) incremental value thereof at the live purchase price of Gold of 999.9 purity displayed on the Fisdom Platform. Where errors have occurred in the pricing of transactions displayed on Fisdom Platform to the Customer, MMTC-PAMP reserves the right to not be bound by such a quote or transaction.
Payment will be accepted through your bank account mapped with Fisdom or any other payment options made available on the Platform. At the time of each purchase / transfer / redemption / sale-back, the relevant taxes will be chargeable as applicable as per the Government regulations.
At the time of redemption, the Customer can select redeemable product for redemption from catalogue of redeemable products. These redeemable products will be hosted on the Fisdom Platform. The list of redeemable products may be altered, changed and amended by MMTC-PAMP from time to time at its sole discretion.
The redemption by delivery feature will be activated on the Platform as soon as Fisdom completes the technology integration on the Platform. The time by which the delivery feature will be active on the Platform will be intimated to you. Clauses related to redemption by delivery feature in the Terms will be active upon activation of delivery feature on the Platform.
At the time of redemption in physical deliverable product form, the Customer will pay additional manufacturing and delivery charges and applicable taxes on the same. The redeemable product selected from the catalogue for delivery shall be subject to availability of stock with the MMTC-PAMP.
Appointment of Security Trustee

a. You hereby acknowledge and agree that in order to ensure that Your customer orders/customer requests are fulfilled in all circumstances, a first and exclusive charge on the Customer’s Gold by way of hypothecation will be created in favour of IDBI Trusteeship Services Limited or any successor Person (“Security Trustee”).

b. By accepting these Terms, You further agree to accede to the terms for such arrangement with the Security Trustee (i.e., a security trustee agreement) and for creation of the charge over the Customer’s Gold by way of a deed of hypothecation or the like (collectively, “Security Trustee Agreements”). By clicking on “I Accept”, You acknowledge that You will accede to the Security Trustee Agreements (upon such date) as if You had been named as an original party to the same and had executed each of such Security Trustee Agreements; and will be bound by all the terms and conditions of the Security Trustee Agreements.

c. All existing customers need to tick “I Accept “ at the appropriate place on the Fisdom app agreeing to the creation of the first and exclusive charge on the purchased Gold i.e. Customer Gold already kept with our Safe Keeper/ Custodian by way of hypothecation created in favour of IDBI Trusteeship Services through the deed of hypothecation or the like (collectively, “Security Trustee Agreements”).

d. In the event of any expenses or charges remaining payable to any Customer be guided by the respective SOP’s and terms and conditions of the Platform.

e. By way of these Terms, You further authorize the Security Trustee to act on your behalf including as Your beneficiary under the insurance policy/ies and to take all steps necessary to protect Your interests.
For each confirmed purchase of Gold by the Customer, MMTC-PAMP will be the custodian of the Gold, till such Gold is lying in your GAP account subject to terms herein. The Gold purchased by you corresponding to a customer order will be allocated and stored in a highly advanced and secured vault of MMTC-PAMP on your behalf. To ensure that your Gold stored in such vault is adequately protected, necessary insurance policy/ies has been obtained by MMTC-PAMP, at its cost. If you redeem your gold after the Custody Period, additional charges will be levied.
The Customer will have the option of redeeming and asking for physical delivery of the full or part of the accumulated Gold holding, in the form of redeemable products starting from 1 (One) gram and above. The residual fractional Gold remaining, upon redemption by you of the entire Gold holding, can be sold back by you to us at the live sell-back price of gold of 999.9 purity and the corresponding amount against the residual fractional Gold sold by you will be credited to your designated bank account.
Upon activation of delivery feature on the Platform, the Customer can buy and redeem Gold on the same day.
You need to pay the applicable making and delivery charges from your bank account mapped with Fisdom Platform or other payment instruments made available on the Fisdom Platform in order to redeem the redeemable product of your choice.
Once the redemption has been initiated by you and payment received then your gold grams will be debited accordingly from your GAP account.
MMTC-PAMP may at its discretion also, from time to time in future, offer/permit the Customer to sell-back its gold in fraction to MMTC-PAMP (i.e. open sale back window) at prevailing live sell-back price of gold of 999.9 purity, during the offer period as may be announced / permitted by MMTC-PAMP. The money against the fractional gold sold by a Customer would be credited to the Customer’s bank account as per the details provided by the Customer.
Live purchase price of Gold will be displayed on the Fisdom Platform and is subject to change from time to time. At the time you make request for redemption / sell-back, the value of Gold / quantity of Gold to be redeemed / sold back will be displayed based on live sell-back price of Gold. The live purchase price of Gold and live sell-back price of Gold may vary and also may be different from that available in the open market and/or in any other retail outlet. Your offer may be rejected due to any issue with the transaction and money paid by you, if any, will be refunded. In such an event if you still wish to offer to purchase Gold or sell-back residual fractional Gold, you may make another offer at the changed price. It is clarified that Live purchase price and live sell price of Gold will be valid for a specific time period window and in the event the transaction is not completed during such time period window, then the live purchase and live sell price of Gold offered on Platform may change. MMTC-PAMP disclaims any and all claims and/or liabilities arising from such non-acceptance of offer or revision in prices.
While availing any of the payment method/s available on the Platform, MMTC-PAMP will not be responsible or assume any liability, whatsoever in respect of any loss or damage arising directly or indirectly to the Customer due to:

a. Lack of authorization for any transaction/s,

b. Exceeding the preset limit mutually agreed by and between the Customer and relevant banks of the Customer,

c. Any payment issues arising out of the transaction,

d. Illegitimacy of the payment methods (credit/debit card frauds etc.) being used by a Customer;

e. Temporary discontinuation of invitation to offer; and / or

f. Decline of transaction for any reason(s) whatsoever.
MMTC-PAMP may, at its discretion, prescribe maximum individual/cumulative limits for Customers to accumulate gold / sale-back of Gold from time to time, and reserves the right to refuse to accept order exceeding such limit.
At any point of time on any day MMTC-PAMP may temporarily discontinue the invitation to offer purchase of gold under GAP for any reason whatsoever.
MMTC-PAMP will, at its discretion, close down GAP account of Customers, if (a) they are Inactive Accounts; (b) If the custody period has expired; and / or (c) if MMTC-PAMP decides to discontinue the GAP offering / service. . In such an event Customers will be required to redeem and / or at the discretion of MMTC-PAMP sell-back their gold holdings within the period notified to the Customer. In the event the Customer chooses not to respond within the prescribed period, (i) in case of expiry of Custody Period, MMTC-PAMP reserves the right (but not an obligation) to repurchase the gold holding of the Customer at the then prevalent live sell-back price of Gold, after deducting applicable charges and taxes; and (ii) in case of Inactive Account or in case of discontinuation of GAP scheme by MMTC-PAMP. MMTC-PAMP reserves the right (but not an obligation) to repurchase the gold holding of the Customer, on the expiry of Custody Period, at the then prevalent live sell-back price. If MMTC-PAMP decides not to repurchase the gold holding, then the Custody of the balance gold holding may be extended by MMTC-PAMP upon payment of necessary charges by the Customer as determined and demanded by MMTC-PAMP. For the purpose of this Clause ‘Inactive Account’ shall mean an account in which there has not been any transaction for a period of 18(eighteen) months or more. For the purpose of this clause, ‘custody period’ shall mean a period of 5 years from the date of last purchase / receipt of Gold in the GAP account of the Customer. The Customer can get his GAP account reactivated by following requisite process offered on the Platform from time to time.
All the proceedings of such forced buy back by MMTC-PAMP- PAMP shall be kept in a dedicated GAP account and Customer or its successors can claim it after providing sufficient proofs (Id, relationship etc.)
The Customer will not be entitled to make an offer to redeem the Gold if the zip code of delivery address is outside serviceable areas as may be notified and updated by MMTC-PAMP, from time to time. At time of redemption the Customer will be required to provide full delivery address. In the event the Customer(s) chooses the delivery address outside the serviceable areas, then on being notified, Customer may either (a) sell-back the Gold during the open sale back window as per terms herein; or (b) collect the redeemed product from authorized delivery points of MMTC-PAMP notified from time to time. In case a Customer‘s delivery address that was a serviceable location at the time of opening a GAP Account becomes unserviceable at the time of redemption, then the Customer in such cases will have option to either (a) take delivery of the Redeemed Product from an alternative address within Serviceable Locations, or (b) sale back the Product during the open sale back window, or (c) collect the Redeemed Products from authorized delivery points of MMTC-PAMP
All redeemable products selected for delivery by Customer for redemption, shall be delivered within India as per instructions of the Customer through our logistics partners of MMTC-PAMP. All deliveries where applicable shall be made on a best efforts basis, and while MMTC-PAMP will endeavor to deliver the Products on the dates intimated, the MMTC-PAMP disclaims any claims or liabilities arising from any delay in this regard.
The logistics partner of MMTC-PAMP will make a maximum of three attempts to deliver your order. After three attempts gold coin will be delivered back to MMTC-PAMP and customer will need to put the fresh request for the redemption.
In case Customer doesn’t get the delivery due to any reasons attributed to MMTC-PAMP or its delivery partner then Customer will get the refund of making and delivery charges.
In case delivery doesn’t happen due to unavailability of the Customer or any other reason attributed to Customer then MMTC-PAMP shall not be liable for refund of making and delivery charges.
The Customer understands and acknowledges that it shall inspect and verify the goods delivered immediately and any complaint / dispute in respect of MMTC-PAMP Services, including with respect to quality, quantity, make etc. shall be raised within a period of 7 days from the date of request of transaction to which such complaint / dispute relates, and no complaint will be entertained beyond the said period.
Customer can send gold as gift to other Platform users. Customers can only gift in milligrams after mentioning the amount of gold to be gifted. Customer will only be able to transfer the quantity of gold that they own. If, for the purposes of gold gifting the quantity of gold is insufficient in Customer’s account, platform will allow them, subject to their account cap, to buy additional gold.
In case of transfer failure, the same quantity of gold transferred will be restored in the vault. The cancellation of gift transaction and restoration can take upto 7 working days. The Customer in any case, will not be able to cancel the transaction at their end, once initiated.
The recipient of the gifted gold will have 7 days to accept the gift. The gold gift recipient by accepting the gold as gift agrees and acknowledges that they have become a Customer of MMTC-PAMP and are subject to all applicable terms and conditions of the Platform including these Terms. Customer can accumulate, redeem, transfer or sell back the gold received as gift as per the terms and conditions of the Platform and these Terms, as may be amended from time to time. MMTC-PAMP will reverse the gifted gold to the sender, if it is not claimed by the gift recipient after the completion of the 7th day of the initiation of the gold gift by the Customer.
The Customer gifting gold on the Platform understands and confirms that the gold is gifted for a legitimated purpose permitted under the applicable laws.
The Customer understands and agrees that the usages associated with the gold transacted on the Platform may differ from gold transacted at a physical store as all gold transactions on the Platform are subject to these Terms.
MMTC-PAMP shall not be liable / responsible, in any manner whatsoever, for any loss / liability arising out of or relating to any technical failure / issue in Platform and / or acts / omission not attributable to MMTC-PAMP.
Notwithstanding anything contrary contained herein, the service, the interface and API work, and their respective information, pricing and data, and availability are subject at any time and from time to time to human, mechanical, typographic, or other errors, oversights, mistakes, limitations, delays, service interruptions, including, without limitation, as may be due in whole or in part to, related to or arising out of (i) computer hardware and software, telecommunication and operating systems, databases, or business processes and procedures, (ii) other problems inherent in, or which may be associated with, the use of the internet and electronic communications including, without limitation, force majeure event, government / regulatory actions, orders, notifications etc. and / or and acts and omissions of third parties etc. affecting or impacting the service, the interface or the API work, its information and data, or such communications. Customer acknowledges and agrees that MMTC-PAMP shall not be responsible or liable whatsoever for delays, failures, or other loss due to, caused by or resulting from any such problems, in whole or in part. If your GAP account is over credited or wrongfully credited / debited, then MMTC-PAMP PAMP has right to reverse / cancel without notice or require cancellation / reversal of such transaction at its sole discretion and debit / credit the gold to / from your GAP account, as the case may be.
Upon MMTC-PAMP confirming the purchase, redemption, sale-back, transfer of Gold in his / her GAP account by Customer, the order / request of Customer to purchase / redemption / sale-back / transfer, as the case may be, shall be binding on the Customer and cannot be cancelled.
The Customer shall inform immediately, in any case no later than 30 days of the transaction, of any irregularities or discrepancies that may exist in his/her GAP account, failing which it shall be deemed that there is no error or discrepancies in the account. All records maintained by MMTC-PAMP, in electronic or documentary form of the instructions of the Customer and such other details (including, but not limited to payments made or received) pursuant to the Terms, shall as against the Customer, be deemed to be conclusive evidence of such instructions.
The Customer understands and acknowledges that any purchase, redemption, transfer, or sale-back from / to GAP account will be on instructions received by the Customer, and the Customer will not violate any applicable laws or regulations for the time being in force in or outside India. The Customer shall be solely responsible for complying with applicable laws in respect of purchase, redemption, sale-back, transfer to and from the GAP account including but not limited to the Prevention of Money Laundering Act, 2002, the Prohibitions of Benami Property Transactions Act, 1998, Income Tax Act, 1961 etc. including amendment thereof. Customer also agrees and undertakes that he /she will not open any account in the name of any minor. MMTC-PAMP will not be liable in any manner in this regard.
The Customer feedbacks pertaining to products shall be deemed to be non-confidential and non-compensatory in nature. MMTC-PAMP reserves the right, at its sole discretion to use such information and such use shall be entirely unrestricted. The Customer hereby irrevocably authorizes MMTC-PAMP to disclose, exchange, share or part with all the information relating to the Customer’s details and payment history information and all information pertaining to Customer’s GAP transaction and undertakes not to hold MMTC-PAMP respective affiliates and other group companies and their agents liable for use of the aforesaid information.
In the event of termination / expiry of MMTC-PAMP’s arrangement with Finwizard Technology Private Limited, the Customer will be notified and the Customer will have the option to either: (i) continue with its GAP account with MMTC-PAMP PAMP; or (ii) discontinue with its GAP account with MMTC-PAMP.

If Customer chooses to continue with its GAP account with MMTC-PAMP, their GAP account will be migrated in the manner notified by MMTC-PAMP to the Customer and Customer agrees to provide such support and information as may be required for the purpose of transition / migration.
If Customer chooses to discontinue with its GAP account with MMTC-PAMP, then the Customer shall redeem the entire product in his GAP account and take delivery of redeemable product and in case of open sale back window, may sell-back the product at the then prevailing live sell-back price of gold.
MMTC-PAMP will not, at any time, and under any obligation be required to transfer physical gold of Customers in its custody to any other person / platform.
These Terms shall be governed by and interpreted and construed in accordance with the laws of India. The courts in New Delhi shall have exclusive jurisdiction in respect of any matters arising therefrom.
In the event any dispute arises out of or in connection with the Terms herein vis-à-vis the Customer, including the validity hereof, the parties hereto shall endeavor to settle such dispute amicably in the first instance. The attempt to bring about an amicable settlement shall be treated as having failed as soon as one of the parties hereto, after reasonable attempts, which shall continue for not less than 15 (Fifteen) calendar days, gives a notice to this effect, to the other party in writing.
Data Privacy: You agree and specifically consent that MMTC-PAMP may collect, store and use your personal data and any communications made to MMTC-PAMP through the Platform, in accordance with Applicable Laws and MMTC-PAMP Privacy Policy.
Phishing: In the event that you receive an email falsely claiming to be from MMTC-PAMP or another group entity, or requesting personal data and/or sensitive personal data or information (“Phishing”), you agree that you will not provide any information or data in response and you will contact Customer Service team without delay. MMTC-PAMP agrees that it will never ask you to provide your password over email or telephone. Should you receive an email or telephone call which you suspect is Phishing or are unsure about, you agree that you will report the phishing email or spoof site without delay in order to protect yourself and fellow Customers. You understand that you should not click any links from unusual emails or download any attachments in order to access your GAP Account.
Fraudulent Activity: If MMTC-PAMP suspects that fraudulent activity has taken place within your GAP account, in order to protect you, you understand that we may temporarily freeze your GAP account to prevent any further or continuing unauthorized activity.
Usage and Proprietary Rights: You agree that any information or data relating to, processed or created in connection with, content or operation of the GAP is confidential and proprietary to MMTC-PAMP, and that You will refrain from disclosing such information to any third party except where required by Applicable Law.
Customer representations and warranties

a. The Customer are bound by the applicable GAP product laws, applicable operating rules, customs, usages and practices.

b. the Customer is not insolvent,

c. MMTC-PAMP relies on representations and warranties made by the Customer. These representations and warranties and those contained elsewhere in these Terms, survive the entering into of these Terms and are repeated in respect of each GAP product transaction. The Customer warrants and agrees that any person who is in possession of any password is authorized by the Customer, and the Customer acknowledges that they will be responsible for any actions on their account associated with the use of its password. The Customer agrees to notify MMTC-PAMP immediately should the Customer become aware of any unauthorized use, loss or theft of the Customer’s, username, password or account numbers; or inaccurate information with respect to the content of statements including, cash balances, open positions or transaction history
Risk Disclosures

The Customer represents and warrants to MMTC-PAMP that:

a. they have received, read, understood and accepted the risk disclosures provided herein in relation to the GAP products contained herein;

b. the Customer acknowledges, recognizes and understands that investment in these products is speculative, may involve a degree of risk and loss;

c. the Customer has read these Terms and understands that, UNLESS SPECIFICALLY AGREED WITH MMTC-PAMP AND UNLESS A STATEMENT OF ADVICE HAS BEEN PROVIDED, and the Customer has considered its objectives and financial situation and has obtained appropriate independent advice prior to entering into these Terms, and has formed the opinion that dealing in the GAP products is suitable for the Customer’s needs and purposes;

The Customer acknowledges that neither MMTC-PAMP nor any associated entity guarantees the performance of any given GAP product or account nor that any GAP product or account will achieve a particular rate of return.
Customer acknowledgements:

The Customer acknowledges to MMTC-PAMP that:

a. He / she will not receive interest or other earnings on the Gold held in the GAP account. The use of the Platform and any services of MMTC-PAMP does not constitute a trading of, or an exchange in, securities, investment contracts, or any document, instrument, or writing commonly known as a “security”, at law or otherwise;

b. Anything MMTC-PAMP is permitted to do in accordance with these Terms may be done in its absolute discretion, and any opinion or view required to be formed by MMTC-PAMP may be formed in its absolute discretion;

c. The Customer’s failure to observe any of the undertakings or representations may result in civil or criminal liability, as well as termination of the use of the MMTC-PAMP services;

d. The Customer is responsible for maintaining adequate security and control of passwords and any other codes that You use to access the services of MMTC-PAMP The Customer agrees to accept full responsibility for the use of the Platform, for any orders transmitted through the Platform and for all communications and the accuracy of all information sent via the Platform using the Customer’s name, password or any other personal identification means implemented to identify the Customer. MMTC-PAMP will not be responsible for any loss or claim arising out of our relying on instructions provided to us using your Password.

e. You agree to exercise safe security practices when accessing and conducting electronic transactions. This includes signing out and closing any online electronic transaction services once all transactions have been completed regardless of your method of accessing the Platform.
Restricted Activities

You agree that you will not:

a. Breach this Agreement or any other agreement or policy that you have agreed to with MMTC-PAMP;

b. Violate any law, statute, ordinance, or regulation (for example, those governing financial services, consumer protection, unfair competition, anti-discrimination, anti-bribery and anti-corruption, or false or misleading advertising);

c. Act in a manner that is defamatory, trade libelous, threatening, or harassing;

d. Provide false, inaccurate, or misleading information;

e. Refuse to cooperate in an investigation or provide confirmation of your identity or any information you provide to us;

f. Conduct your business or use the MMTC-PAMP services in a manner that results in, or may result in, complaints, disputes, claims, reversals, chargebacks, fees, penalties, and other liability to Partner, other uses, third parties, or you;

g. Take any action that imposes an unreasonable or disproportionately large load on our infrastructure; facilitate any viruses, Trojan horses, worms, or other computer programming routines that may damage, detrimentally interfere with, surreptitiously intercept, or expropriate any system, data, or information; use an anonymizing proxy; use any robot, spider, other automatic device, or manual process to monitor or copy our Website without our prior written permission; or use any device, software, or routine to bypass our robot exclusion headers, or interfere or attempt to interfere with the Platform or the MMTC-PAMP services
If legal heir / survivor / claimant (hereinafter referred to as ‘Claimant’) of any deceased customer desires to claim Gold lying in the GAP account, such Gold will be released to such Claimant against submission of (a) duly notarised / attested copy of death certificate of the deceased, (b) legal heir certificate / succession certificate / registered will / probated will / letter of administration issued by court of competent jurisdiction in favour of the Claimant, as the case may be, (c) proof of address of the Claimant, and (d) photo ID of the Claimant. MMTC-PAMP will be fully discharged from its liability against such Gold once released to the Claimant, and on release of Gold to the Claimant, the GAP account of the deceased customer will be closed.
Waiver: Any failure or delay by MMTC-PAMP to enforce or exercise any provision of these Terms, or any related right, shall not constitute a waiver by MMTC-PAMP (as applicable) of that provision or right. The exercise of one or more of a MMTC-PAMP’s rights hereunder shall not be a waiver of, or preclude the exercise of, any rights or remedies available to MMTC-PAMP under these Terms or in law or at equity. Any waiver of any provision shall only be effective if made in writing and executed by a duly authorized officer of MMTC-PAMP (as applicable).
Force Majeure: If performance under these Terms by MMTC-PAMP is prevented, restricted, delayed or interfered with by reason of labor disputes, strikes, acts of God, floods, lightning, severe weather, shortages of materials, rationing, inducement of any virus, Trojan or other disruptive mechanisms, any event of hacking or illegal usage of the Platform, utility or communication failures, earthquakes, war, revolution, acts of terrorism, civil commotion, acts of public enemies, blockade, embargo or any law, order, proclamation, regulation, ordinance, demand or requirement having legal effect of any government or any judicial authority or representative of any such government, or any other act whatsoever, whether similar or dissimilar to those referred to in this clause, which are beyond the reasonable control of the MMTC-PAMP and could not have been prevented by reasonable precautions then MMTC-PAMP shall be excused and discharged from such performance to the extent of and during the period of such force majeure event, and such non-performance shall, in no manner whosoever, amount to a breach by the MMTC-PAMP of its obligations herein.
Absence of relationship: You represent and warrant to MMTC-PAMP that you have sufficient experience and knowledge to make informed decisions to purchase/ transfer / redeem/ sale-back Gold / redeemable products. You acknowledge that you are making all of your own decisions in connection with purchases or transfer or redemption or sale-back and that you have not relied on any information made available by MMTC-PAMP and that MMTC-PAMP is not making any recommendation with respect to such purchases/redemption/sale-back/ of Gold/redeemable products. No relationship other than seller-purchase, including, without limitation, any agent-principal relationship, any advisor-advisee relationship, any employee-employer relationship, any franchisee-franchisor relationship, any joint venture relationship or any partnership relationship, exists between you and MMTC-PAMP. No relationship other than service provider- service recipient including, without limitation, any agent-principal relationship, any advisor-advisee relationship, any employee-employer relationship, any franchisee-franchisor relationship, any joint venture relationship or any partnership relationship, exists between you and Finwizard Technology Private Limited.
Electronic Order Risks: Order entry systems have been designed to provide an efficient and dependable method for entering orders. Commercial internet service providers are not 100% reliable and a failure by one or more of these providers may affect internet-based order entry. You acknowledge that the order entry system is an electronic mechanical system and as such may be subject to failure beyond the control of MMTC-PAMP. Therefore, MMTC-PAMP shall not be responsible for errors, negligence, inability to execute orders, delays in transmission, delivery or execution of order due to breakdown or failure of transmission or communication facilities, or to any other cause beyond MMTC-PAMP’s control or anticipation. You acknowledge that pricing or typographical errors may occur and that therefore, in the event that a product is listed at an incorrect price or with incorrect information due to an error in pricing or product information, MMTC-PAMP reserves the right, at our sole discretion, to refuse or cancel or reject any orders placed for the products. Furthermore, MMTC-PAMP reserves the right to deny refuse or cancel or reject any orders placed in case of market volatility and/ or unusual circumstances or conditions. This includes, without limitation, unexpected unavailability of product/Gold.
Customer responsibility for taxes, tariffs and duties: You acknowledge that you are solely responsible for all taxes, tariffs and duties that may be incurred as a result of purchase/redemption/ of Gold/Redeemable Products. MMTC-PAMP will only collect taxes, tariffs and duties on transactions to the extent explicitly required by law. It is your responsibility to be aware and properly address any taxes, tariffs and duties to which you may be subject by any local, state and/ or federal governments. If you have any questions about taxes, tariffs and duties, you should consult a tax or other professional about your unique circumstances. MMTC-PAMP does not represent to provide advice or recommendations about your specific taxes, tariffs and duties and any statements made by us are only for the purpose of raising issues for you to discuss with your tax or other professional.
Indemnification: Customer hereby agrees to indemnify and keep MMTC-PAMP indemnified from and against all actions, claims, demands, proceedings, losses, damages, personal injury, costs, charges and expenses, directly or indirectly, whatsoever (‘Losses’) which MMTC-PAMP or its respective employees, agents, workers or representative may at any time incur, sustain, suffer or be put to as a consequence of or by reason of or arising out of: (i) the usage of the Platform by the Customer; (ii) by reason of MMTC-PAMP ‘s (as applicable) acting in good faith and taking or refusing to take or omitting to take action on the Customer’s instructions, and in particular arising directly or indirectly out of the negligence, mistake or misconduct of the Customer; (iii) breach or noncompliance of the Terms and relating to the GAP account; and/or (iv) fraud or dishonesty relating to any transaction by the Customer. Without prejudice to the foregoing, MMTC-PAMP shall be under no liability whatsoever to the Customer in respect of any loss or damage arising directly or indirectly out of:

i. Effecting transaction based on instructions received from Customers,

ii. The instruction of a Customer to transfer Gold from his / her GAP account to another GAP account,

iii. The exercise by MMTC-PAMP of its right to terminate / exercise the facility/services provided on the Platform,

iv. Any injury to the credit, character and reputation of the Customer due to use of facility/ services on the Platform,

v. Any misstatement, misrepresentation, error or omission in any details disclosed by MMTC-PAMP if receives any process, summons, order, injunction, execution distrait, levy lien, information or notice which MMTC-PAMP in good faith believes/ calls into question the Customer’s ability, or the ability of someone purporting to be authorised by the Customer, to make the transfer, MMTC-PAMP may, at its option and without liability to the Customer or such other person, decline to allow the Customer to obtain any portion of his gold/ product, or may handover such gold/product over to an appropriate authority and take any other steps required by applicable law.
Disclaimers and limits of liability: The Customer declares it has read, understood and accepted all of the terms and conditions outlined in these Terms. The Customer agrees that when entering into a GAP product transaction with MMTC-PAMP, the Customer is relying on its own judgment and, to the extent permitted by law. The Customer acknowledges and declares that any information regarding the GAP including but not limited to the information displayed on the Platform, in these Terms, etc., shall not be construed as any advice or recommendation given or views expressed to the Customer, by MMTC-PAMP. MMTC-PAMP does not make any representations, recommendations, projections, warranties or guarantees of any kind, either expressed or implied, as to the performance of its Gold/Redeemable Products with respect to future prices or any return on investment. MMTC-PAMP will not be liable for any Loss or damage caused by reliance on information obtained in any of our newsletters, literature, reports, e-mail correspondence, website, or any other communication from MMTC-PAMP. MMTC-PAMP will not be liable to any Customer (including but not limited to Transferee) for any Losses caused by or relating to transfer/deposit of Gold to GAP account of any other Customer. MMTC-PAMP explicitly urges to all its Customers to inspect the package for any damage or tamper before receiving or signing for receipt. If you find any tampering, do not accept the parcel and return the same. MMTC-PAMP will not be liable for any loss or damage caused if the Customer accepts the parcel in spite of it being damaged or tampered. The duty to verify the parcel for any damages or tampering is of the Customer and if the Customer accepts the parcel and later comes to know of any damage or tampering, MMTC-PAMP shall not be liable for any loss or damage to Customer. If such loss is later reported and approved by logistics partner and Insurance Company, the limit of liability shall be restricted to the amount paid by the logistic partner for such loss or damage in transit as per their terms and conditions and the same shall be binding upon the Customer.
You acknowledge that MMTC-PAMP will not be liable to you or any other person as a result of your access or use of Gold/Redeemable Product for indirect, consequential, special, incidental, punitive, or exemplary damages, including, without limitation, lost profits, lost savings and lost revenues (collectively, the “excluded damages”), whether or not characterized in negligence, tort, contract, or other theory of liability, even if MMTC-PAMP has been advised of the possibility of or could have foreseen any of the excluded damages, and irrespective of any failure of an essential purpose of a limited remedy. In no event will MMTC-PAMP or any of its respective directors, employees, agents’ total liability to you for all damages, losses, liabilities and causes of action under these Terms and the facility/ services provided by MMTC-PAMP collectively exceed total amount paid by you, if any, for access to that particular products or services. The foregoing limitation of liability shall apply to the fullest extent permitted by law in the applicable jurisdiction.
You declare that You are an individual not having registration and neither required to take registration under Central Goods and Service Tax Act 2017, State Goods and Service Tax Act 2017, Integrated Goods and Service Tax Act 2017 and Union Territory Goods and Service Tax Act 2017.
You declare that gold you are selling was previously owned by you for personal use.
You declare that You are not an unregistered dealer of gold and silver or any other precious metal ornament or any related product.
If found of any misrepresentation then You will be solely responsible for all applicable taxes, interest and penalty due to the government at any given point of time.
Any notice, communication or information required to be given or provided by MMTC-PAMP under or in connection with these Terms to the Customer may be given / provided by posting / notifying it on the Platform, message to the mobile number, emailing it to your email address or posting to the street address listed in your GAP Account