For the purpose of this Buyer Agreement (“Agreement”), the individual or any legal entity (company, sole-proprietorship, partnership, HUF etc.) representing itself through its duly appointed authorized signatory only, who has completed XSTOK’s Buyer Registration Form as required by XSTOK (hereinafter, referred to as the “Buyer” / “You”, which expression shall, unless it be repugnant to the context or meaning thereof, be deemed to mean and include Your heirs and successors) shall constitute the FIRST PART;
Centerac e-Market Places Private Limited, a company incorporated under the Companies Act, 1956, and having its registered office at 4th Floor, Daulatram Mansion, 6 St. Kittridge Road, Colaba, Mumbai 400 005 (hereinafter referred to as “XSTOK”, which expression shall, unless it be repugnant to the context or meaning thereof, be deemed to mean and include all its successors and permitted assigns) shall constitute the SECOND PART.
Buyer/You and XSTOK may be referred to as the “Party” individually and as the “Parties” collectively, as the context may require.
NOW THEREFORE IT IS HEREBY AGREED BY AND BETWEEN THE PARTIES AND THIS AGREEMENT WITNESSETH AS UNDER:
1. ACCEPTANCE, COMPLETION OF BUYER REGISTRATION, REPRESENTATIONS AND WARRANTIES
1.1 This Agreement is an electronic document in terms of the Information Technology Act, 2000 and the Rules made thereunder and the provisions pertaining to electronic documents / records in various statutes as amended by the Information Technology Act, 2000, and is available on the Website. This Agreement does not require any physical, electronic or digital signature. You have the option of accepting or declining to accept this Agreement, and, if you click on the box against the words “I Decline” at the bottom of this webpage, the Buyer Registration process shall be aborted. However, if you take the affirmative action of clicking on the box against the words “I Accept” at the bottom of this webpage (“Acceptance”), You represent and warrant that:
(a) You, in your individual capacity and/or as a duly authorized representative of the entity registering as a Buyer on the Website, are at least eighteen (18) years of age, of sound mind, and not disqualified from entering into this Agreement under any law in India or any obligations, contractual or otherwise, to which you are bound, or any order, judgment or decree of any judicial, quasi-judicial or government body;
(b) You have read and accepted this Agreement as legally binding and as governing the relationship between You and XSTOK, including with respect to the use of the Auction Platform by You;
(c) You are not aware of any legal, quasi-legal, administrative, arbitration, mediation, conciliation or other proceedings, claims, actions, governmental investigations, orders, judgments or decrees of any nature made, existing, threatened, anticipated or pending by or against You which may prejudicially affect the due performance or enforceability of this Agreement or any obligation, act, omission or transaction contemplated hereunder;
(d) The information You have provided in the Buyer Registration Form and documents uploaded on the Website as part of the Buyer Registration process (collectively “Registration Data and Documents”) is true, accurate, current and complete in every material respect, and You will promptly update the Registration Data and Documents whenever required in order to keep it true, accurate, current and complete.
1.2 On Your Acceptance, XSTOK will email a copy of this Agreement in PDF format, to the email address provided by You in the Buyer Registration Form, along with a unique, system-generated User ID and Password for access to the Auction Platform, and an Agreement Acceptance Notification, containing a statement requesting You to contact XSTOK within twenty four (24) hours if the Acceptance has not been provided by You.
1.3 You hereby represent and warrant that you will:
(a) Maintain the confidentiality of Your password, log out properly after each session on the Auction Platform, immediately notify XSTOK of any unauthorized use of Your password, loss of Your password or any other breach of security so that XSTOK may disable Your password, and accept sole liability for any activity on the Auction Platform by anyone using Your password, whether such use is authorized or unauthorized.
(b) Abide by any applicable laws, the terms and conditions of this Agreement and XSTOK’s policies.
(c) Not use the Website to:
(i) Transmit or make available any content that is unlawful, harmful, threatening, abusive, harassing, defamatory, vulgar, obscene, libelous, invasive of another’s privacy, hateful or likely to cause offence, or any content that you do not have a right to make available under any law or under contractual or fiduciary relationships, or any content that infringes any patent, trademark, trade secret, copyright or other proprietary rights of any party;
(ii) Harm or harass others in any way, violate others’ privacy or violate any applicable law;
(iii) Impersonate any other person or entity;
(iv) Interfere with or disrupt the normal functioning of the Auction Platform or transmit or make available any material that contains computer viruses or other computer code, files or programs designed to interrupt, destroy or limit the functionality of any computer software or hardware or telecommunications equipment; or
(v) Transmit or make available any unsolicited or unauthorized advertising, promotional material, junk mail, spam, chain letters, pyramid schemes or any other form of solicitation.
2. GENERAL TERMS AND CONDITIONS FOR CONDUCT OF AUCTIONS
2.1 GTC and STC: All auctions on the Auction Platform shall be conducted in accordance with the general terms and conditions specified herein (“GTC”) and with the Specific Terms and Conditions (“STC”) for each auction (if any). In the event of any conflict or difference on any particular point between the GTC and the STC for a particular auction, the latter shall prevail.
2.2 Notice of Auction and Earnest Money: For each impending auction, prior notice shall be made available on the Website by XSTOK, specifying the date(s) of the auction, the lots / items being auctioned, the minimum price at which the Supplier of each lot / item is willing to consummate a sale (“Reserve Price”), the location of the lot / item, terms for delivery or collection of the lot / item, Earnest Money Deposit (EMD),if needed and the STC (if any).
2.3 Inspection of Lots / Items: All lots / items are sold on an “As Is, Where Is” basis, unless otherwise specified in the STC, and XSTOK makes no warranties as to the quality or fitness of the lots / items for any particular purpose or as to the accuracy of the descriptions, on the Auction Platform, of the lots / items. You, and other prospective bidders, will be provided with an opportunity to inspect the lots / items at a specified location, on a specified date, at a specified time. Whether or not You choose to inspect the lots / items, the principle of “Caveat emptor” will apply. You may request XSTOK to provide you with third party certification with respect to the lots / items, for an additional fee; however, as such certification shall be issued by third parties, XSTOK shall bear no liability whatsoever for non-conformance of the lots / items.
2.3 Automatic Bidding: For each lot or item being auctioned, You may opt for automatic bidding, in which case You are required to declare your maximum bid, in advance. The Auction Platform will place the bid on your behalf up to your maximum bid. You may, at any time during the auction of the lot or item, opt to increase the maximum bid.
2.3 Priority in Bidding: To determine priority between bidders, the following rules shall apply:
(a) Higher bids shall always supersede lower bids.
(b) Between bids of the same price, the bid placed earliest shall supersede the other bids.
(c) In the event of a tie between the highest bids of live bidders and the maximum bid of an automatic bidder, the automatic bidder shall be deemed to have placed his bid earliest. In the event of a tie between automatic bidders, or between live bidders, XSTOK shall have sole discretion to decide the winner.
Notwithstanding the above rules, XSTOK’s decision on the success or otherwise of a bid shall be final and binding, and, although bidders are not permitted to withdraw their bids, XSTOK reserves the right to reject or void bids, whether winning or not.
2.4 Binding Effect of Bids, Payment: You agree that any bids made by You are legally binding commitments to purchase. Winners shall be notified by XSTOK by email, and, if You are so notified, You shall be obligated to make full payment to XSTOK, by Demand Draft or electronic funds transfer, of the amount specified in the email notification (“Buyer Dues”), on or before the date specified therein. XSTOK shall, in determining the Buyer Dues, add any applicable taxes, duties and fees to the amount of Your winning bid, and subtract the amount of the Earnest Money paid by You. If You fail to make full payment in time, XSTOK shall have the right to cancel the sale and to treat Your Earnest Money as forfeited, as well as to recover from You any losses or damages incurred as a result of Your failure to make full payment in time.
2.5 Withdrawal of Items / Lots: If the highest bid received for a lot or item is lower than the Reserve Price, then such lot / item shall stand withdrawn from auction and the highest bidder shall have no right to purchase the lot / item. The Supplier, at his own discretion, may offer the lot to the highest bidder at the highest bid. In addition, XSTOK shall have the right to withdraw any lot / item from auction at any time before or during the auction, or to cancel or postpone any auction, without assigning any reason.
2.6 Refund of Earnest Money: If You are not the winner, XSTOK shall refund Your Earnest Money, without interest, by electronic transfer within 2 days after the conclusion of the auction, or, if so instructed by You, shall credit Your Earnest Money towards the earnest money due from You for a subsequent auction.
2.7 Delivery Orders and Collection: Delivery orders shall be issued only after receipt of Buyer Dues as specified in Clause 2.4. In cases where collection of the lots / items from the Supplier is Your responsibility, You shall arrange to remove the lots / items from the Supplier’s custody on the date specified in the delivery order (“Deadline”) and Supplier shall permit You to do so only on presentation of the delivery order. Loading and transport shall be entirely Your responsibility. If You fail to remove the lots / items on or before the Deadline, You shall forfeit any right to the lots / items, and shall also forfeit the Earnest Money and Buyer Dues. In cases where delivery of the lots / items is the Supplier’s responsibility, XSTOK shall not be liable for non-performance by the Supplier, except to the extent specified in Clause 5.4 herein.
3. TERM AND TERMINATION
3.1 Term: This Agreement shall remain in force from the Effective Date until terminated.
3.2 Termination with Notice: Either Party may terminate this Agreement with thirty days’ prior written notice.
3.3 Immediate Termination: Notwithstanding Clause 3.2 hereinabove, XSTOK has the right to terminate this Agreement with immediate effect if You:
(a) Have breached any of the terms of this Agreement, including but not limited to the representations and warranties made by You herein; or
(b) Become insolvent or are the subject of a bankruptcy order.
3.4 Consequences of Termination:On termination, XSTOK shall be free to, with immediate effect:
(a) Terminate Your access to the Website and Auction Platform, and, at XSTOK’s sole discretion, refuse to restore such access, or agree to restore such access only upon certain terms and conditions, including but not limited to, levy of a penalty on You.
(b) Demand that You shall return to XSTOK forthwith any confidential information, materials and property of XSTOK, or, where the confidential information cannot be returned in material form, that You destroy all such confidential information and shall provide XSTOK with a certificate of destruction with respect to the same.
(c) Demand that you pay, immediately and in full, any sums due from You on account of lots / items purchased by You, prior to the date of termination, using the Auction Platform.
4. INTELLECTUAL PROPERTY, CONFIDENTIALITY AND NON-DISCLOSURE
4.1 Confidentiality: Each Party acknowledges that, as a result of the execution of this Agreement, it may have access to certain information about the other Party or its business. Each Party agrees not to misuse such information during the Term of this Agreement, not to use such information in any manner whatsoever after the termination of this Agreement, and to keep such information confidential both during the Term and after the termination of this Agreement. Each Party agrees that it shall not disclose any such information to any third party without the other Party’s prior written consent. The obligations under this Clause shall survive the termination of this Agreement. This Clause 7 shall not apply to:
(a) Any information which has been published or otherwise entered the public domain other than through a breach of this Agreement;
(b) Information which was already in the possession of the recipient Party before any disclosure under this Agreement took place;
(c) Information obtained from a third party who is free to disclose it;
(d) Information which a Party is required by law to disclose;
(e) Information disclosed to legal advisors; or
(e) Any document or information agreed in writing by either Party not to contain confidential information.
4.2 Publicity: XSTOK’s name / trademarks / brand names / logos, etc, shall remain the exclusive property of XSTOK, and may not be used by Buyer without XSTOK’s prior written consent. Buyer hereby authorizes XSTOK to use Buyer’s name / trademarks / brand names / logos on the Website and in any promotional / marketing material produced in connection with the Website or auctions thereon, and to indicate that Buyer is using XSTOK’s Auction Platform.
4.4 Infringement by Buyer: Buyer hereby acknowledges that XSTOK has the exclusive right to supervise, allow and reject the contents of the Website, and authorizes XSTOK, on receipt of any notice of alleged infringement of third party intellectual property rights, to remove / delist the allegedly infringing matter from the Website, with or without prior notice to Buyer. Nevertheless, Buyer acknowledges that XSTOK is merely an intermediary and shall not be liable for any alleged infringement by Buyer of third party intellectual property rights, and all consequent liability shall be borne by Buyer only.
5. LIMITATION OF LIABILITY, WARRANTY DISCLAIMER AND INDEMNITY
5.1 Website and Auction Platform: XSTOK shall make its best efforts to deal with any technical issues affecting the Website and Auction Platform, such as the Website or Auction Platform becoming inoperative, as well as with any issues arising from inappropriate conduct by third parties using the Website and Auction Platform. However, You hereby agree that Your use of the Website and Auction Platform is at your sole risk, on an “As Is” basis. XSTOK expressly disclaims all warranties of any kind, whether express or implied, and shall bear no liability whatsoever for any of the following:
(a) Programming errors or defects, or any interruptions or delays or errors in the performance of the Website or Auction Platform, and any losses or damages to You or Your business associates, including but not limited to loss of profits or special or consequential damages, arising therefrom.
(b) Any computer virus, worm, software lock, drop dead device, Trojan-horse routine, trap door, time bomb or any other codes or instructions that may be used by any third party to access, modify, delete, damage or disable the Website or Auction Platform or Your computer systems, and any losses or damages, including but not limited to loss of profits or special or consequential damages, arising therefrom.
(c) Any statements or conduct by any third party, and any losses or damages, including but not limited to loss of profits or special or consequential damages, arising therefrom.
5.2 Non-conformance of Lots / Items: As XSTOK is merely an intermediary, at no time shall XSTOK hold any right, title or interest in the lots / items being auctioned nor does XSTOK make any warranty that the lots / items purchased by You using the Auction Platform shall meet your expectations as to quality, quantity or in any other respect.
5.3 Privacy: XSTOK accepts no liability for any failure to keep confidential Your Registration Data and Documents or any data pertaining to Your use of the Auction Platform, and, insofar as any rights to privacy or data protection under Indian law may be waived, such rights are hereby waived by You.
5.4 Non-Performance by Supplier: If a Supplier breaches the Supplier’s obligation to deliver the lots / items to You, or make the lots / items available for collection by You, as per the delivery order, then XSTOK’s liability shall be limited to refunding You the Buyer Dues and Earnest Money paid by You to XSTOK, and XSTOK shall bear no liability whatsoever for any losses or damages to You or Your business associates, including but not limited to loss of profits or special or consequential damages, arising from such breach by the Supplier.
5.5 Indemnity: Buyer agrees and undertakes to indemnify and to hold harmless XSTOK, its affiliates, successors, agents, assigns, and each of their directors, officers, employees, associates, agents, and representatives from and against any losses, damages, liability, claims, demands, costs, penalties and expenses (including, without limitation, attorneys’ fees and any other costs incurred due to legal actions, suits or proceedings) incurred, directly, indirectly or consequentially, by reason of Buyer’s acts or omissions, including but not limited to: (i) any breach or alleged breach by Buyer of Buyer’s obligations, representations, or warranties hereunder; (ii) any violation by Buyer of any applicable law or regulation; or (iii) any breach by the Buyer of any of XSTOK’s policies.
5.6 Your obligations under this Clause 5 shall survive the termination of this Agreement.
6. RELATIONSHIP OF THE PARTIES
6.1 Nothing in this Agreement shall constitute, or be deemed to constitute, a partnership between the Parties, nor a joint venture, nor shall it constitute, or be deemed to constitute, any Party the agent of the other Party for any purpose.
6.2 It is agreed by the Parties that each Party is an independent contractor with respect to the other, and that, subject to any express provisions to the contrary in this Agreement, each Party shall have no right or authority to, and shall not, do any act, enter into any contract, make any representation, give any warranty, incur any liability, assume any obligation, whether express or implied, of any kind on behalf of the other Party or bind the other Party in any way.
7. NOTICES AND SERVICE
7.1 Any notice or other communication to be given to any Party hereto shall be in writing and in English and shall be by email, telex, cable or facsimile transmission, personal delivery, registered post acknowledgement due or EMS, or by commercial delivery by internationally recognized courier services. Notice by personal delivery, courier service or registered post acknowledgement due shall be effective upon delivery at the address of the XSTOK as hereinabove set forth, or the Your address as specified in the Buyer Registration Form. Notice by email shall be effective upon actual receipt by each Party, at the e-mail addresses set forth hereinbelow:
Buyer: The email address specified in the Buyer Registration Form.
8. GOVERNING LAW, JURISDICTION AND DISPUTE RESOLUTION
8.1 If any dispute arises between the Parties hereto during the subsistence of this Agreement or thereafter, in connection with, or arising out of, this Agreement, each Party shall nominate a senior manager or officer to meet with a senior manager or officer nominated by the other Party and, acting reasonably and in good faith, use reasonable efforts to resolve the dispute as soon as possible and in an amicable manner. If such dispute cannot be amicably resolved by negotiation between the Parties within 15 days, then the Parties may resort to any lawful means to remedy such dispute.
8.2 This Agreement shall be governed by, and construed solely in accordance with, the laws of India. The appropriate courts in Mumbai, India, shall have exclusive jurisdiction in connection with this Agreement.
9. FORCE MAJEURE
9.1 Neither Party will be liable for damages arising from non-performance of the obligations under this Agreement due to act of God, fire, flood, earthquake, epidemic, quarantine restrictions, strikes, lock-outs, war, civil disturbance, act of civil or military authorities or public enemy (each, an instance of “Force Majeure”). If a Party is affected by any Force Majeure event, the Party so affected, will promptly notify the other Party in writing of the occurrence of the Force Majeure event (and the likely duration of the impact or delay caused by the Force Majeure event), and the performance of its obligations will be suspended during the period that the Force Majeure circumstances persist, and the affected Party will be granted an extension of time for performance equal to the period of delay attributable to the Force Majeure event. If a Party’s performance of its obligations hereunder is suspended due to an occurrence of a Force Majeure event for a period beyond thirty (30) days, the other Party may terminate this Agreement.
10.1 Severability: If any provision of this Agreement is held by any Court or other competent authority to be invalid, illegal or unenforceable in whole or in part, this Agreement shall continue to be valid as to its other provisions and the remainder of the affected provision, and this Agreement shall be construed as if such invalid, illegal or unenforceable provision had never been contained in this Agreement, and the remaining provisions of this Agreement shall be given full force and effect.
10.3 Waiver: The rights and remedies provided in this Agreement are cumulative and not exclusive of any rights or remedies otherwise provided under Indian law. No failure or delay by either Party in exercising any of its rights, powers or privileges under this Agreement shall be deemed to be a waiver of that right, power or privilege and no waiver by either Party of a breach of any provision of this Agreement shall be deemed to be a waiver of any subsequent breach of the same or any other provision.
10.4 Assignment: The rights and obligations under this Agreement shall not be assigned or transferred by You to any third party whomsoever. XSTOK shall be entitled to transfer or assign any or all of its rights and obligations under this Agreement to a third party without a prior notification to You.
The Terms and Conditions contained herein shall apply to any person (“User”) using the services of Centerac eMarketplaces Private Limited for making transaction fee payments through an online payment gateway service (“Service”) offered jointly by ICICI Bank Ltd. and Payment Gateway Service provider, through XSTOK's website i.e. www.xstok.com Each User is therefore deemed to have read and accepted these Terms and Conditions.
Please be aware, however, that XSTOK will release specific personal information about the User if required to do so in the following cirumstances:
a) in order tocomply with any valid legal process such as a search warrant, statute, or court order, or
b) if any of User’s actions on XSTOK’s website violate the Terms of Service or any of XSTOK’s guidelines for specific services, or
c) to protect or defend XSTOK’s legal rights or property, the XSTOK site, or XSTOK Users; or
d) to investigate, prevent, or take action regarding illegal activities, suspected fraud, situations involving potential threats to the security, integrity of XSTOK website/offerings.
B. General Terms and Conditions For Online-Payments
1. Once a User has accepted these Terms and Conditions, he/ she may register and avail the Services. A User may either register on XSTOK’s website or alternatively enter transaction ID, and pay their transaction amounts in any other manner as may be specified by XSTOK from time to time.
2. XSTOK's rights, obligations, undertakings shall be subject to the laws in force in India, as well as any directives/ procedures of Government of India, and nothing contained in these Terms and Conditions shall be in derogation of XSTOK's right to comply with any law enforcement agencies request or requirements relating to any User’s use of the website or information provided to or gathered by XSTOK with respect to such use. Each User accepts and agrees that the provision of details of his/ her use of the Website to regulators or police or to any other third party in order to resolve disputes or complaints which relate to the Website shall be at the absolute discretion of XSTOK.
3. If any part of these Terms and Conditions are determined to be invalid or unenforceable pursuant to applicable law including, but not limited to, the warranty disclaimers and liability limitations set forth herein, then the invalid or unenforceable provision will be deemed superseded by a valid, enforceable provision that most closely matches the intent of the original provision and the remainder of these Terms and Conditions shall continue in effect.
4. These Terms and Conditions constitute the entire agreement between the User and XSTOK. These Terms and Conditions supersede all prior or contemporaneous communications and proposals, whether electronic, oral, or written, between the User and XSTOK. A printed version of these Terms and Conditions and of any notice given in electronic form shall be admissible in judicial or administrative proceedings based upon or relating to these Terms and Conditions to the same extent and subject to the same conditions as other business documents and records originally generated and maintained in printed form.
5. The entries in the books of XSTOK and/or the Payment Service Providers kept in the ordinary course of business of XSTOK and/or the Payment Service Providers with regard to transactions covered under these Terms and Conditions and matters therein appearing shall be binding on the User and shall be conclusive proof of the genuineness and accuracy of the transaction.
6. Refund For Charge Back Transaction: In the event there is any claim for/ of charge back by the User for any reason whatsoever, such User shall immediately approach XSTOK with his/ her claim details and claim refund from XSTOK alone. Such refund (if any) shall be effected only by XSTOK via payment gateway or by means of a demand draft or such other means as XSTOK deems appropriate. No claims for refund/ charge back shall be made by any User to the Payment Service Provider(s) and in the event such claim is made it shall not be entertained.
7. In these Terms and Conditions, the term “Charge Back” shall mean, approved and settled credit card or net banking purchase transaction(s) which are at any time refused, debited or charged back to merchant account (and shall also include similar debits to Payment Service Provider's accounts, if any) by the acquiring bank or credit card company for any reason whatsoever, together with the bank fees, penalties and other charges incidental thereto.
8. Refund for fraudulent/duplicate transaction(s): The User shall directly contact XSTOK for any fraudulent transaction(s) on account of misuse of Card/ Bank details by a fraudulent individual/party and such issues shall be suitably addressed by XSTOK alone in line with their policies and rules.
9. Server Slow Down/Session Timeout: In case the Website or Payment Service Provider’s webpage, that is linked to the Website, is experiencing any server related issues like ‘slow down’ or ‘failure’ or ‘session timeout’, the User shall, before initiating the second payment,, check whether his/her Bank Account has been debited or not and accordingly resort to one of the following options:
(I) In case the Bank Account appears to be debited, ensure that he/ she does not make the payment twice and immediately thereafter contact XSTOK via e-mail or any other mode of contact as provided by XSTOK to confirm payment.
(ii) In case the Bank Account is not debited, the User may initiate a fresh transaction to make payment.
However, the User agrees that under no circumstances the Payment Gateway Service Provider shall be held responsible for such fraudulent/duplicate transactions and hence no claims should be raised to Payment Gateway Service Provider No communication received by the Payment Service Provider(s) in this regards shall be entertained by the Payment Service Provider(s).
C. Limitation of Liability
1. XSTOK has made this Service available to the User as a matter of convenience. XSTOK expressly disclaims any claim or liability arising out of the provision of this Service. The User agrees and acknowledges that he/ she shall be solely responsible for his/ her conduct and that XSTOK reserves the right to terminate the rights to use of the Service immediately without giving any prior notice thereof.
2. XSTOK and/or the Payment Service Providers shall not be liable for any inaccuracy, error or delay in, or omission of (a) any data, information or message, or (b) the transmission or delivery of any such data, information or message; or (c) any loss or damage arising from or occasioned by any such inaccuracy, error, delay or omission, non-performance or interruption in any such data, information or message. Under no circumstances shall the XSTOK and/or the Payment Service Providers, its employees, directors, and its third party agents involved in processing, delivering or managing the Services, be liable for any direct, indirect, incidental, special or consequential damages, or any damages whatsoever, including punitive or exemplary arising out of or in any way connected with the provision of or any inadequacy or deficiency in the provision of the Services or resulting from unauthorized access or alteration of transmissions of data or arising from suspension or termination of the Services.
3. XSTOK and the Payment Service Provider(s) assume no liability whatsoever for any monetary or other damage suffered by the User on account of:
(I) the delay, failure, interruption, or corruption of any data or other information transmitted in connection with use of the Payment Gateway or Services in connection thereto; and/ or
(ii) any interruption or errors in the operation of the Payment Gateway.
4. The User shall indemnify and hold harmless the Payment Service Provider(s) and XSTOK and their respective officers, directors, agents, and employees, from any claim or demand, or actions arising out of or in connection with the utilization of the Services.
5. The User agrees that XSTOK or any of its employees will not be held liable by the User for any loss or damages arising from your use of, or reliance upon the information contained on the Website, or any failure to comply with these Terms and Conditions where such failure is due to circumstance beyond XSTOK’s reasonable control.
D. Miscellaneous Conditions :
1. Any waiver of any rights available to XSTOK under these Terms and Conditions shall not mean that those rights are automatically waived.
2. The User agrees, understands and confirms that his/ her personal data including without limitation details relating to debit card/ credit card transmitted over the Internet may be susceptible to misuse, hacking, theft and/ or fraud and that XSTOK or the Payment Service Provider(s) have no control over such matters.
3. Although all reasonable care has been taken towards guarding against unauthorized use of any information transmitted by the User, XSTOK does not represent or guarantee that the use of the Services provided by/ through it will not result in theft and/or unauthorized use of data over the Internet.
4. XSTOK, the Payment Service Provider(s) and its affiliates and associates shall not be liable, at any time, for any failure of performance, error, omission, interruption, deletion, defect, delay in operation or transmission, computer virus, communications line failure, theft or destruction or unauthorized access to, alteration of, or use of information contained on the Website.
5. The User may be required to create his/ her own User ID and Password in order to register and/ or use the Services provided by XSTOK on the Website. By accepting these Terms and Conditions the User aggress that his/ her User ID and Password are very important pieces of information and it shall be the User’s own responsibility to keep them secure and confidential. In furtherance hereof, the User agrees to;
i. Choose a new password, whenever required for security reasons.
ii. Keep his/ her User ID & Password strictly confidential.
iii. Be responsible for any transactions made by User under such User ID and Password.
The User is hereby informed that XSTOK will never ask the User for the User’s password in an unsolicited phone call or in an unsolicited email. The User is hereby required to sign out of his/ her XSTOK account on the Website and close the web browser window when the transaction(s) have been completed. This is to ensure that others cannot access the User’s personal information and correspondence when the User happens to share a computer with someone else or is using a computer in a public place like a library or Internet café.
E. Debit/Credit Card, Bank Account Details
1. The User agrees that the debit/credit card details provided by him/ her for use of the aforesaid Service(s) must be correct and accurate and that the User shall not use a debit/ credit card, that is not lawfully owned by him/ her or the use of which is not authorized by the lawful owner thereof. The User further agrees and undertakes to provide correct and valid debit/credit card details.
2. The User may pay his/ her dues to XSTOK by using a debit/credit card or through online banking account. The User warrants, agrees and confirms that when he/ she initiates a payment transaction and/or issues an online payment instruction and provides his/ her card / bank details:
i. The User is fully and lawfully entitled to use such credit / debit card, bank account for such transactions;
ii. The User is responsible to ensure that the card/ bank account details provided by him/ her are accurate;
iii. The User is authorizing debit of the nominated card/ bank account for the payment of dues selected by such User along with the applicable Fees.
iv. The User is responsible to ensure sufficient credit is available on the nominated card/ bank account at the time of making the payment to permit the payment of the dues payable or the bill(s) selected by the User inclusive of the applicable Fee.
F. Personal Information
1. The User agrees that, to the extent required or permitted by law, XSTOK and/ or the Payment Service Provider(s) may also collect, use and disclose personal information in connection with security related or law enforcement investigations or in the course of cooperating with authorities or complying with legal requirements.
2. The User agrees that any communication sent by the User vide e-mail, shall imply release of information therein/ therewith to XSTOK. The User agrees to be contacted via e-mail on such mails initiated by him/ her.
4. The User acknowledges and agrees that his/ her information will be managed in accordance with the laws for the time in force.
G. Payment Gateway Disclaimer
The Service is provided in order to facilitate access to view and pay transaction dues online. XSTOK or the Payment Service Provider(s) do not make any representation of any kind, express or implied, as to the operation of the Payment Gateway other than what is specified in the Website for this purpose. By accepting/ agreeing to these Terms and Conditions, the User expressly agrees that his/ her use of the aforesaid online payment Service is entirely at own risk and responsibility of the User.