Terms of Use

Kuendruel.bt ("Kuendruel" or "Site" or "we" or "our") is a web portal that provides a platform to connect people who are seeking to borrow money to smart investors who are willing to invest to earn higher interest income. Kuendruel is an innovation to bring together small population of Bhutan on one platform and build a GNH (Gross National Happiness) community that would share its resources with each other in all honesty and promote togetherness and growth of the community at an individual level and of the community as a whole. Kuendruel’s endeavor is that an individual may come forward to support another individual in need. On this web portal, a visitor to the website could browse and search for people who are willing to lend, people who are seeking to borrow, details of service providers such as verification agencies, collection agents and other such service providers that would provide services to either lenders or to borrowers. Kuendruel shall merely facilitate a transaction of borrowing and lending between two such people. Kuendruel neither lends nor borrows through this website. Kuendruel is neither a financial institution, nor runs a collective investment scheme or a chit fund or any other such financial scheme.

SITE:Site means Kuendruel.bt

YOU/YOUR: You/Your shall mean natural or legal person who is at least 18 years of age and could legally enter into a contract in Bhutan and could use the services and products provided on Kuendruel.bt in accordance with the terms and conditions recorded hereinafter and has agreed to become a paid member of this Site and whose membership fee is in arrears and those whose membership fees is not in arrears.

Acceptance of Terms and Conditions

Every effort has been made to ensure, that the information contained on the Site is correct, however Kuendruel makes no warranty as the accuracy, comprehensiveness, or correctness of any Service(s) or a Product(s) on the Site, and provides all Service(s) and Product(s) on an "as is" basis. By using this Site, you ("you" or the "End User") agree to these terms and conditions ("Terms and Conditions" or "T&C" or "Terms") that we have provided. If you do not wish to agree to these Terms and Conditions, please refrain from using this Site.

The Service(s) or a Product(s) and information displayed on the Site is an "invitation to offer" to the End User. Your order for purchase of either Service(s) or Product(s) constitutes your "offer" which shall be subject to the terms and conditions as listed below. Kuendruel.bt reserves the right to accept or reject your offer. If you have supplied us with your valid email address, we will notify you by email as soon as possible to confirm receipt of your instruction and email you again to confirm details and therefore process the instruction accordingly for provision of Services(s) or Products(s). Our acceptance of your instructions for either rendition of services or provision of any product will take place upon rendition of Service(s) or dispatch of the Product(s) ordered. No act or omission of Kuendruel prior to the actual dispatch of the Product(s) or rendition of services ordered will constitute acceptance of your offer. Similarly, no act or omission of Kuendruel prior to the actual rendition of services shall constitute acceptance of your offer. A Person who cannot enter into legally binding contract in accordance with the provisions of the Contract Act of Bhutan, 2013 including person below the age of 18 years or of unsound mind and un-discharged insolvents etc. are not entitled to use the Site.

Persons under the age of 18 years are not permitted to get engaged with this Site and have no permission to call for any services or products or to lend or to borrow from through this Site.

Persons under the age of 18 years are not permitted to get engaged with this Site and have no permission to call for any services or products or to lend or to borrow from through this Site.

The Site is freely accessible to the End User however; the End User will have to register with Kuendruel.bt and create their individual registration account prior to any purchase of Service(s) or Product(s). All registration information must be correct, complete and promptly updated by the End User each time it changes. Kuendruel reserves the right to make any changes to our Terms and Conditions and/or our Privacy Policy (which is incorporated herein by reference) as we deem necessary or desirable without prior notification to you. We suggest to you, therefore, that you read our T&C and Privacy Policy from time to time in order that you stay informed as to any such changes. If we make changes to our T&C and Privacy Policy and you continue to use our Site, you are impliedly agreeing to the revised T&C and Privacy Policy expressed herein.

Your privacy is important to us and we will protect it. We will not share your personal information with anyone other than those listed in our Privacy Policy.

As a condition of purchase, Kuendruel requires your consent to send you administrative and promotional emails / SMS/ Phone Calls. We will send you information regarding your account activity and purchases, as well as updates about our Services and Products and promotional offers. You can opt-out of our promotional emails anytime by clicking the unsubscribe link at the bottom of any of our email correspondences. Please see our Privacy Policy for details.

By placing an order, you make an offer to us to purchase Service(s) or Product(s) you have selected based on the Terms and Conditions stated below.

You are required to create an account in order to purchase any Services or a Product from our Site. This is required so we can provide you with easy access to print your orders, view your past purchases, and modify your preferences.

If you have any questions about these Terms and Conditions, please contact Kuendruel on support@kuendruel.bt

1. ACCEPTANCE OF TERMS AND CONDITIONS

By using this Site, you agree to the Terms and Conditions that Kuendruel has provided. If you do not wish to agree to these Terms and Conditions, please refrain from using the Site. In the Site, Kuendruel provides End Users with access to database of lenders, borrowers and services providers in relation to debt services such as verification agencies and collection agencies etc. The Kuendruel is only a platform that brings together borrowers and lenders, it matches the need of borrowers and lender, and provides link to service providers that are associated with the business of borrowing and lending such as verification agency and collection agency. Kuendruel in no manner collects deposits from the lenders or person who would like to earn interest on their money by lending. Kuendruel only supports the lender in verifying the whereabouts of the borrower on best effort basis

If this T&C conflicts with any other document, the T&C will prevail for the purposes of usage of the Site. If you do not agree to be bound by this T&C and the Privacy Policy, you may not use the Site in any way.

2. Description of Products & Services

In the Site, Kuendruel provides End Users with access to lenders, borrowers, service providers to borrowers, partners who facilitate lending and credit reports for lenders and borrowers.

Upon your clicking "yes" in the options menu we shall be entitled to send you regular updates via email/ sms/ phone call or any other means regarding our Services and Product offerings.

3. General

By using this Site (other than to read this T&C for the first time), user agrees to comply with all of the terms and conditions hereof. The right to use this Site is personal to the user and is not transferable to any other person or entity. User shall be responsible for protecting the confidentiality of User's password(s), if any. User acknowledges that, although the internet is often a secure environment, sometimes there are interruptions in service or events that are beyond the control of KUENDRUEL, and Kuendruel shall not be responsible for any data lost while transmitting information on the internet. While it is Kuendruel’s objective to make the Site accessible 24 hours per day, 7 days per week, the Site may be unavailable from time to time for any reason including, without limitation, routine maintenance. You understand and acknowledge that due to circumstances both within and outside of the control of Kuendruel, access to the Site may be interrupted, suspended or terminated from time to time. Kuendruel shall have the right at any time to change or discontinue any aspect or feature of Kuendruel, including, but not limited to, content, hours of availability and equipment needed for access or use. Further, Kuendruel may discontinue disseminating any portion of information or category of information, may change or eliminate any transmission method and may change transmission speeds or other signal characteristics.

4. Modified Terms

Kuendruel reserves the right at all times to discontinue or modify any of the Terms and Conditions as may be deemed necessary or desirable without prior notification to you. Such changes may include, among other things, the adding of certain fees or charges. We suggest to you, therefore, that you re-read this important notice containing our Terms and Conditions from time to time in order that you stay informed as to any such changes. If we make changes to our Terms and Conditions and you continue to use our Site, you are impliedly agreeing to the Terms and Conditions and Privacy Policy expressed herein. Any such deletions or modifications shall be effective immediately upon Kuendruel’s posting thereof. Any use of Kuendruel by End User after such notice shall be deemed to constitute acceptance by End User of such modifications.

5. License and Site Access

Kuendruel grants you a limited license to access and make personal use of the Site. This license does not include any downloading or copying of account information for the benefit of another vendor or any other third party; caching, unauthorized hypertext links to the Site and the framing of any Content available through the Site, uploading, posting, or transmitting any content that you do not have a right to make available (such as the intellectual property of another party); uploading, posting, or transmitting any material that contains software viruses or any other computer code, files or programs designed to interrupt, destroy or limit the functionality of any computer software or hardware or telecommunications equipment; any action that imposes or may impose (in Kuendruel’s sole discretion) an unreasonable or disproportionately large load on Kuendruel’s infrastructure; or any use of data mining, robots, or similar data gathering and extraction tools. You may not bypass any measures used by Kuendruel to prevent or restrict access to the Site. Any unauthorized use by you shall terminate the permission or license granted to you by Kuendruel. By using this Site and by accepting to agree to these terms and conditions you also agree that you shall not hack or otherwise hire some third party to hack the site or use any other unauthorized means without a written consent of Kuendruel and access any third party information. By using this Site you agree that you will hold all any information received by you during your interaction with this Site or any other users of this Site (including other lenders and borrowers on this Site) in the strictest confidence and shall not disclose or use the information obtained by you by accessing this Site. You shall in such an event be liable of a criminal offence and Kuendruel shall institute appropriate legal proceedings to claim damages. Kuendruel also reserve rights to institute proceedings in accordance with the law relating to intellectual property rights violation or infringement available to it in case the misuse of this website is a person or an entity that belongs to out of Bhutan.

6. Kuendruel Usage Eligibility

The Kuendruel.bt Service is not available to persons under the age of 18 or of unsound mind or who are declared insolvent or to any Users suspended or removed from the system by Kuendruel for any reason. Users may not have more than one active account. Additionally, Users are prohibited from selling, trading, or otherwise transferring their Kuendruel.bt account to another party. If you do not qualify, you may not use the kundruel.bt or the Site.

7. Your Account

In consideration of your use of the Site, you represent that you are of legal age to form a binding contract and are not a person barred from receiving services or goods under the laws as applicable in India. Additionally, you are more than 18 years of age. You also agree to provide true, accurate, current and complete information about yourself as prompted by the Site's registration form. If you provide any information that is untrue, inaccurate, not current or incomplete (or becomes untrue, inaccurate, not current or incomplete), or Kuendruel has reasonable grounds to suspect that such information is untrue, inaccurate, not current or incomplete, Kuendruel has the right to suspend or terminate your account and refuse any and all current or future use of the Site (or any portion thereof). As Kuendruel is a website that enables borrowers to find lenders and lenders to find borrowers, it considers provisions of wrong information on this web portal willingly an act that would constitute misrepresentation, fraud and cheating. If you use the Site, you are responsible for maintaining the confidentiality of your account and password, and for restricting access to your computer. You agree to accept responsibility for all activities that occur under your account or password. Because of this, we strongly recommend that you exit from your account at the end of each session. You agree to notify Kuendruel immediately of any unauthorized use of your account or any other breach of security. Kuendruel reserves the right to refuse service, terminate accounts, or remove or edit content in its sole discretion. In the event, Kuendruel finds that the information shared by the User of the website is incorrect or that the User is in breach of terms or conditions of the website or User is in default of the lenders and borrowers agreement than in such case Kuedruel may add the name and details of such person in the list of persons who are blacklisted from receiving funds or lending.

8. Equipment

User shall be responsible for obtaining and maintaining all telephone, computer hardware and other equipment needed for access to and use of this Site and all charges related thereto. Kuendruel shall not be liable for any damages to the End User's equipment resulting from the use of this Site.

9. End User conduct

This Site and any individual sites or merchant-specific, city-specific, or state-specific sites now or hereinafter contained within or otherwise available through external hyperlinks with our Site (the "Microsites") are private property. All interactions on this Site and/or the Microsites must comply with these Terms and Conditions. Although we welcome and encourage user interaction on our Site, we do insist and require that all End Users restrict any and all activity in connection with the use of this Site and the Microsites to that which involves lawful purposes only. End User shall not post or transmit through this Site any material which violates or infringes in any way upon the rights of others, or any material which is unlawful, threatening, abusive, defamatory, invasive of privacy or publicity rights, vulgar, obscene, profane or otherwise objectionable, which encourages conduct that would constitute a criminal offense, give rise to civil liability or otherwise violate any law, or which, without Kuendruel's express prior, written approval, contains advertising or any solicitation with respect to Products or Services. Any conduct by an End User that in Kuendruel's exclusive discretion restricts or inhibits any other End User from using or enjoying this Site and/or any of the Microsites is strictly prohibited. End User shall NOT use this Site or any of the Microsites to advertise or perform any commercial, religious, political or non-commercial solicitation, including, but not limited to, the solicitation of users of this Site and/or the Microsites to become users of other on- or offline services directly or indirectly competitive or potentially competitive with Kuendruel.

The foregoing provisions of this Section apply equally to and are for the benefit of Kuendruel, its subsidiaries, affiliates and its third party content providers and licensors, and each shall have the right to assert and enforce such provisions directly or on its own behalf.

10. Monitoring

Kuendruel shall have the right, but not the obligation, to monitor the content of the Site at all times, including any chat rooms and forums that may hereinafter be included as part of the Site, to determine compliance with this Agreement and any operating rules established by Kuendruel, as well as to satisfy any applicable law, regulation or authorized government request. Without limiting the foregoing, Kuendruel shall have the right to remove any material that Kuendruel, in its sole discretion, finds to be in violation of the provisions hereof or otherwise objectionable.

11. License Grant

By posting communications on or through this Site, User shall be deemed to have granted to Kuendruel a royalty-free, perpetual, irrevocable, non-exclusive license to use, reproduce, modify, publish, edit, translate, distribute, perform, and display the communication alone or as part of other works in any form, media, or technology whether now known or hereafter developed, and to sublicense such rights through multiple tiers of sub-licensees.

12. Personal Information

In order to avail of the Services from the Site, you will need to provide your details prior to get enlisted either as a borrower or as a lender. As an account holder you are required to provide Kuendruel with accurate personal information. Provision of another person’s details as your own will not be deemed acceptable.

Any personal information collected by Kuendruel shall not be disclosed to any third party unrelated to the Kuendruel business unless such a disclosure is authorized or required by law, or you have expressly consented to such a disclosure. However, by accepting the terms and conditions you grant Kuendruel an unconditional right to share your personal information with Kuendruel’s partners, affiliates, employees and agents for administrative purpose. Please also see the Privacy Policy in this regard.

13. Cancellation by Kuedruel

Please note that there may be certain instruction to remit payments or seek rendition of services that Kuendruel is unable to accept shall be cancel. We reserve the right, at our sole discretion, to refuse or cancel any order for any reason. We may also require additional verifications or information before accepting any instruction or registering you on are portal as a lender or a borrower. The borrower(s) and lender(s) are required to note that negative third party verification report(s) are crucial factors considered during the funding process. The funding may get rejected at any stage due to lack of information or verifiable information.

14. Fraudulent /Declined Transactions

Kuendruel reserves the right to recover the cost of Service(s) and Product(s), collection charges and lawyers fees from persons using the Site fraudulently. Kuendruel reserves the right to initiate legal proceedings against such persons for fraudulent use of the Site and any other unlawful acts or omissions in breach of these terms and conditions.

15. Compliance with RMA

By using this Site and registering with us on the Site, you agree that you are aware of and have read the private lending directions issued by the Royal Monetary Authority of Bhutan (‘RMA’) for private lending rules and regulations 2016.

By Registering as Lender on the Site you agree that:

I. You have not lent any amounts exceeding Nu.90,000 to an individual borrower

II. Interest charged is up to 15% per annum

III. EMI is calculated based on SDI (Simple Daily Interest) method

VI. If you wish to lend more than Nu.90,000, you shall be a registered lender with RMA

By registering as a Borrower you agree that:

I. You have not borrowed any amounts exceeding Nu.500,000

II. You have not borrowed more than Nu.90,000 from the same Lender

16. Limitation of Liability

Kuendruel, its associates and technology partners make no representations or warranties about the accuracy, reliability, completeness, current-ness and/or timeliness of any content, information, software, text, graphics, links or communications provided on or through the use of the Site or that the operation of the Site will be error free and/or uninterrupted. Consequently, Kuendruel assumes no liability whatsoever for any monetary or other damage suffered by you on account of the delay, failure, interruption, or corruption of any data or other information transmitted in connection with use of the Site; and/or any interruption or errors in the operation of the Site. You expressly understand and agree that Kuendruel and its subsidiaries, affiliates, officers, employees, agents, partners and licensors shall not be liable to you for any direct, indirect, incidental, special, consequential or exemplary damages, including, but not limited to, damages for loss of profits, goodwill, use, data or other intangible losses (even if Kuendruel has been advised of the possibility of such damages), resulting from use of the Site, sale and supply of Products content or any related goods and services.

This limitation of liability section shall prevail over any conflicting or inconsistent provision contained in any of the documents comprising this Agreement. It is up to you to take precautions to ensure that whatever you select for your use is free of such items as viruses, worms, trojan horses and other items of a destructive nature.

The User further with immediate effect waive any right which had accrued to him from using the website to initiate any legal action against Kuendruel User also acknowledge that the credibility of a lender or a borrower as depicted upon the website is based on the information that is provided to Kuendruel. In case there is a non-disclosure of information to Kuendruel of the information, and the judgment of Kuendruel is impaired and the ratings or credibility of a lender or a borrower is not found to be correct, Kuendruel shall not be responsible for any claims or liabilities. Kuendruel in any event is not responsible for any default in return of money that is borrowed from the lender and the lender shall have exclusive right to initiate proceedings against the defaulter borrower. Kuendruel do provide the necessary information and support to the lender. However, lender shall not make any claim against Kuendruel and shall conduct an independent due diligence of the borrower before lending it to him

17. Indemnity

You agree to indemnify and hold Kuendruel (and its officers, directors, agents, subsidiaries, joint ventures, and employees) harmless from any claim or demand, including reasonable attorneys’ fees, or arising out of or related to your breach of this T&C, or your violation of any law or the rights of a third party including but not limited to breach of any warranties, representations or undertakings or in relation to the non-fulfillment of any of your obligations under this T&C or arising out of violation of any applicable laws, regulations including but not limited to Intellectual Property Rights, payment of statutory dues and taxes, claim of libel, defamation, violation of rights of privacy or publicity, loss of service by other subscribers and infringement of intellectual property or other rights. This clause shall survive the expiry or termination of this T&C. In the event any excess amount is credited into your account by reason of any system error or human error (‘Wrongfully Credited Amounts’) to which you are not entitled, you shall immediately notify us in writing of the same and shall not withdraw, use, transfer or deal with such Wrongfully Credited Amount in any manner whatsoever. You hereby undertake to indemnify us for any losses, costs, damages, charges and expenses that we may suffer as a result of a breach of this obligation.

18. Severability

If any of the Terms shall be deemed void, invalid or unenforceable for any reason, that condition shall be deemed several and shall not affect the enforceability of any remaining provision.

19. Customer Communication

Kuendruel will communicate with you through any of the mode using email, SMS and telephone or all of them or any other mode. Account holders must provide a valid email address and contact telephone and/ or mobile number to Kuendruel for this purpose. When you use the Site or send emails to Kuendruel, you are communicating with Kuendruel electronically. You consent to receive communications from Kuendruel electronically. From time to time, Kuendruel will also send you marketing material. If you do not wish to receive such material, you may unsubscribe from our mailing list at any time by using the unsubscribe function in the electronic marketing communication or by contacting at support@kuendruel.bt You agree that all agreements, notices, disclosures and other communications that we provide to you electronically satisfy any legal requirement that such communications be in writing.

20. Site-Provided Email and Postings

The Site may provide End Users with the ability to send email messages to other End Users and non-End Users and to post messages on the Site. Kuendruel is under no obligation to review any messages; information or content ("Postings") posted on the Site by End Users and assumes no responsibility or liability relating to any such Postings.

You understand and agree not to use any functionality provided by the Site to post content or initiate communications that contain:

(i) Any unlawful, harmful, threatening, abusive, harassing, defamatory, vulgar, obscene, profane, hateful, racially, ethnically or otherwise objectionable material of any kind, including, but not limited to, any material which encourages conduct that would constitute a criminal offense, give rise to civil liability or otherwise violate any applicable local, state, national or international law.

(ii) Advertisements or solicitations of any kind.

(iii)Impersonate others or provide any kind of false information.

(iv) Personal information such as messages which state phone numbers, social security numbers, account numbers, addresses, or employer references.

(v) Messages by non-spokesperson employees of Kuendruel purporting to speak on behalf of Kuendruel or containing confidential information or expressing opinions concerning Kuendruel

(vi) Messages that offer unauthorized downloads of any copyrighted or private information.

(vii)Chain letters of any kind.

(viii) Identical (or substantially similar) messages to multiple recipients advertising any product or service, expressing a political or other similar message, or any other type of unsolicited commercial message.

This prohibition includes but is not limited to:

a)Using Kuendruel.bt invitations to send messages to people who don’t know you or who are unlikely to recognize you as a known contact;

b) Using Kuendruel.bt to connect to people who don’t know you and then sending unsolicited promotional messages to those direct connections without their permission; and

c) Sending messages to distribution lists, newsgroup aliases, or group aliases.

21. Links

The Site or third parties may provide links to other World Wide Web sites or resources. Because Kuendruel has no control over such sites and resources, you acknowledge and agree that Kuendruel is not responsible for the availability of such external sites or resources, and does not endorse and is not responsible or liable for any content, advertising, products or other materials on or available from such sites or resources. You further acknowledge and agree that Kuendruel shall not be responsible or liable, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with use of or reliance on any such content, goods or services available on or through any such site or resource.

22. Access to Password Protected/Secure Areas

Access to and use of password protected and/or secure areas of the Site is restricted to authorized Users only. Unauthorized individuals attempting to access these areas of the Site may be subject to prosecution.

23. Acknowledgements

I. You acknowledge that the Kuendruel is not engaged in either grant of loan or borrowing any money from any member of the website.

II. You acknowledge that the Kuendruel managing this website and neither Kuendruel or any of its subsidiary or affiliate has any interest in either grant of loan or in borrowing money from a member registered on the website.

III. You acknowledge that the Kuendruel is not at all responsible for any claim or damage in case either the person who has agreed to grant loan has not granted loan or the person who has agreed to repay the loan do not repay the loan.

IV. You acknowledge that the Kuendruel in no manner warrants or guarantees the performance of a service provider that is providing services through the website of Kuendruel.

V. You acknowledge that the Kuendruel in no manner warrants and guarantees that the grantor of loan or the recipient of loan has provided all the information on this website which is true and correct including his address, phone numbers etc.

VI. You acknowledge that it is your responsibility to verify the information about the person on the website and Kuendruel is in no manner liable if the information provided on this website is untrue or incorrect.

VII. You acknowledge that Kuendruel is in no manner responsible for any claim of money or damages in the event one person fails to either grant loan or a person fails to repay the loan or misrepresents about his financial status or commits a fraud or a cheating or any other such illegal act.

VIII. You acknowledge that you have taken expert advice from a legal consultant or any other expert so required about your status to lend or borrow on the site.

IX. You acknowledge that you are aware of all your rights, duties and applicability of various laws including not limited to Money Lending Act, Income Tax Act, or any other statute, or law, which may govern the lending and borrowing of monies within your State of residence or from where you ordinarily conduct your business.

24. Disclaimer of Warranties

ALL DETAILS OF THE MEMBERS OF THIS FAIRCENT WEBSITE AND THEIR FINANCIAL STATUS, INCLUDED IN OR AVAILABLE THROUGH THIS SITE ARE PROVIDED FOR USE WITHOUT WARRANTIES OF ANY KIND, EITHER EXPRESS OR IMPLIED, FAIRCENT, ITS SHAREHOLDERS, ITS HOLDING COMPANY, ITS SUBSIDIARIES, AND ITS LICENSORS DO NOT WARRANT THAT THE INFORMATION OR OTHER MATERIAL WHICH IS PLACED ON THE WEBSITE BY ANY PERSON IS CORRECT INCLUDING HIS FINANCIAL STATUS OR CAPABILITY OR HAS NOT APPROACHED THE OTHER USER OF THIS WEBSITE WITH A CRIMINAL INTENT TO EITHER CHEAT OR MISAPPROPRIATE OR DENY ANY OTHER USER OF ITS LEGITIMATE CLAIMS. BY UPLOADING ANY CONTENT, REPRESENTATION OR STATEMENT OF YOUR FINANCIAL STATUS OR YOUR PROOF OF RESIDENCE YOU REPRESENT AND WARRANT THAT YOU HAVE THE LAWFUL RIGHT TO REPRODUCE AND DISTRIBUTE SUCH CONTENT AND THAT THE CONTENT COMPLIES WITH ALL LAWS AND IS TRUE AND AUTHENTIC AND IS NOT IN ANY EVENT PLACED ON THE WEBSITE TO DEFRAUD OTHER USERS OR CREATE A FALSE IMPRESSION IN THEIR MINDS THAT YOU HAVE A SOUND FINANCIAL STATUS OR ARE REASONABLY COMMITTED TO DELIVER THE REPAYMENTS ON TIME. YOU ALSO REPRESENT THAT YOU HAVE NOT EVER BEEN ACCUSED TO ANY FRAUD, MISREPRESENTATION OR DEFAULT IN REPAYMENT OF ANY CLAIMS OR MONIES TO ANY THIRD PARTY WHETHER A FINANCIAL INSTITUTION OR NOT. YOU ALSO REPRESENT THAT THERE ARE NO OUTSTANDING DISPUTES IN CONNECTION WITH YOUR MORAL TURPITUDE OR FINANCIAL STATUS. YOU HEREBY REPRESENT AND WARRANT TO FAIRCENT THAT YOU ARE LEGALLY COMPETENT TO EXECUTE, BE BOUND BY AND ADHERE TO TERMS AND CONDITIONS OF TERMS AND CONDITIONS OF FAIRCENT. YOUR USE OF THIS SITE IS SOLELY AT YOUR RISK. YOU AGREE THAT FAIRCENT SHALL HAVE NO RESPONSIBILITY FOR ANY DAMAGES SUFFERED BY YOU IN CONNECTION WITH THIS SITE OR ANY CONTENT CONTAINED THEREIN OR ANY DAMAGE SUFFERED IN THE EVENT OF DEFAULT OR MISREPRESENTATION BY ANY OTHER USER OF THS WEBSITE.

25. Limitation of Liability

UNDER NO CIRCUMSTANCES SHALL FAIRCENT, ITS SUBSIDIARIES, EMPLOYEES, OFFICERS, AFFILIATES, DIRECTORS, AGENTS, SUPPLIERS, SHAREHOLDERS, NON EXECUTIVE DIRECTORS OR ITS LICENSORS INVOLVED IN CREATING, PRODUCING, TRANSMITTING OR DISTRIBUTING PRODUCTS OR SERVICES ON THIS SITE, GRANTING OR RECEIVING LOAN FROM A MEMBER ASSOCIATED WITH THE FAIRCENT WEBSITE BE LIABLE FOR ANY DIRECT, INDIRECT, PUNITIVE, INCIDENTAL, SPECIAL, OR CONSEQUENTIAL DAMAGES THAT RESULT FROM EITHER MISREPRESENTATION, FRAUD, COERCION, BREACH OF TRUST, MISAPPROPRIATION, CHEATING OR FOR ANY OTHER SUCH REASON OF ITS END USERS OR OF THIRD PARTIES INCLUDING BUT NOT LIMITED TO LOSS OF PROFITS AND LOSS OF GOODWILL OR LOSS OF INTEREST

26. Monitoring

In case it comes to your knowledge that any member of this website has committed default or fraud or misrepresents his financial status than you may inform Faircent in writing and upon receipt of such information Faircent shall call upon such third party to explain the allegations made in your Notice and upon receipt of an explanation from such third party Faircent shall in its own discretion decide as to whether such a person should be prohibited from using the website.

27. Applicable Laws:

Your use of this Site and any Term and Conditions stated in this policy is subject to laws of Bhutan.

28.

The trademarks, logos and service marks ("Marks") displayed on the Site are the property of Kuendruel and other respective persons. End Users are prohibited from using any Marks for any purpose including, but not limited to use as meta-tags on other pages or sites on the World Wide Web without the written permission of Kuendruel or such third party which may own the Marks. All information and content including any software programs available on or through the Site ("Content") is protected by copyright. End Users are prohibited from modifying, copying, distributing, transmitting, displaying, publishing, selling, licensing, creating derivative works or using any Content available on or through the Site for commercial or public purposes.

29. Changes to Terms and Conditions

Kuendruel reserves the right to change these Terms and Conditions of its Service without informing you. You should check our Site for any updated Terms and Conditions.

30. Miscellaneous

If any of these conditions are deemed invalid, void, or for any reason unenforceable, the parties agree that the court should endeavor to give effect to the parties’ intentions as reflected in the provision, and the unenforceable condition shall be deemed severable and shall not affect the validity and enforceability of any remaining condition. From time to time Kuendruel may offer special promotional offers which may or may not apply to your Kuendruel account. To avail of such promotional offers, you agree to be bound by any additional terms and conditions for these special offers which are laid down by Kuendruel. This T&C and the relationship between you and Kuendruel will be governed by the laws as applicable in India. Any dispute(s) arising out of this T&C will be handled in the competent courts of Delhi, India. The failure of Kuendruel to act with respect to a breach by you or others does not waive its right to act with respect to subsequent or similar breaches. Kuendruel does not guarantee it will take action against all breaches of this T&C. Except as otherwise, expressly provided in this T&C, there shall be no third-party beneficiaries to this T&C. This T&C constitutes the entire agreement between you and Kuendruel and governs your use of the Site, superseding any prior agreements between you and Kuendruel with respect to the Site.

31. Payment Methods

You can pay Kuendruel using –payments services deployed by Kuendruel from time to time. Kuendruel has also deployed a system of electronic payment of fees, the details of which are available at www.Kuendruel.bt . All transactions are processed in Ngultrum.

Kuendruel holds the complete right to de-activate any lender/borrower on its own accord if the lender/borrower is suspected or found to be from competition engaging or trying to engage in any malicious activity

32. . E-Sign or Virtual Signature

We have also introduced a system where the borrowers and lenders have the opportunity to electronically sign the Lender Agreement. Details about how to sign the Lender Agreement are available at www.kuendruel.bt