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TERMS AND CONDITIONS OF ‘GOLD ACCUMULATION PLAN’ OR ‘GAP’ BY MMTC - PAMP

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 Partner Platform, you are agreeing to and accept these Terms and Conditions. 
1.    In these Terms, references to "you", or "Customer" shall mean the counterparty who transacts using the Partner Platform, being a natural person, buying Gold from MMTC-PAMP, redeeming Gold in the form of redeemable products sold by MMTC-PAMP, transfer by Customer(s) to other Customer(s), selling back Gold to MMTC-PAMP and receiving other related services in relation to GAP. “Partner Platform” shall mean, and include, the platforms (website, mobile apps, others) owned and operated by [Tata Securities] (“Partner”), that the Customer accesses for the GAP transactions, including all contents, services and technology offered through the Partner Platform. "Service Providers" mean independent third party service providers. 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. “Transfer” refers to a facility to transfer Gold from Gold account of one Customer to Gold account of another Customer(s).

2.    Capacity to enter into these Terms 

The Customer represents and warrants that: 

a)    the Customer is of legal age and is under no legal disability or incapacity, to enter into, these Terms and the transactions contemplated by it, and perform its obligations; and

b)    the Customer is not insolvent.

3.    The Customer represents and warrants that these Terms constitute 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;

4.    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;

5.    MMTC–PAMP collectively, reserves the right to change these Terms at any time. Such changes will be effective when posted on the Partner 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 Partner Platform and shall be deemed to have accepted the amended Terms by continuing the use of Partner Platform.

6.    MMTC-PAMP shall be entitled to collect, store, use and share relevant information and documents provided by the Customer on the Partner Platform for KYC purposes and other purposes as permissible under applicable laws. Further, as and when required by MMTC-PAMP the Customer will be required to provide additional documents for fulfilling the KYC requirements. You authorize MMTC-PAMP to make such enquiries as it may feel necessary to satisfy itself about the validity of your identity. You undertake to update us in case of change of your existing information including but not limited to your address, phone number, mobile number, email ID etc. or verification documents provided by you. 

We reserve the right to deactivate your Gold account, in the event you fail to provide KYC documents / information to MMTC-PAMP / Partner within required timelines. The Gold account may be activated only upon submission of relevant documents.  The Customer shall ensure that all information supplied to MMTC-PAMP / Partner by the Customer 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 in any material respect. You shall be responsible for the correctness of information provided by you to MMTC-PAMP / Partner from time to time. MMTC-PAMP will not be responsible for the incorrectness of KYC documents / information provided by you. If at any time MMTC-PAMP finds that the KYC documents are incorrect or authenticity of such KYC is doubtful, MMTC-PAMP may, at its sole option, deactivate or close your Gold account. If you have reasons to believe that there is an error in the information furnished to MMTC-PAMP / Partner, you shall immediately advise MMTC-PAMP and Partner in writing and forthwith provide correct / updated information. The Customer authorizes MMTC-PAMP to pass on / deliver all such information and documents to any third person.

7.    MMTC-PAMP reserve the right to indefinitely suspend or terminate or block access to any Gold account on the Partner 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. 

8.    You can offer to buy Gold worth Rs. 1.00 (Rupee One Only) and above incremental value thereof at the live purchase price of Gold of 999.9 purity displayed on the Partner Platform. Where errors have occurred in the pricing of transactions displayed by Partner on Partner platform to the Customer, MMTC-PAMP, reserves the right to not be bound by such a quote or transaction. Due to delayed transmission between the Customer and Partner, the price offered on Partner Platform may have changed before an order from the Customer is received by Partner. MMTC-PAMP reserves the right to cancel or reverse the transaction whether before or after transaction confirmation. MMTC-PAMP further reserves the right to credit / debit Gold balance in your Gold account on account of cancellation or reversal of any transaction(s). 

9.    Payment will be accepted only through payment options made available on the MMTC-PAMP Payment Gateway. At the time of purchase / redemption / sale-back / Transfer of Gold, the relevant taxes will be chargeable as applicable as per the Government regulations. MMTC-PAMP will not be responsible for any wrong / erroneous credit / debit from Customer’s bank account / wallet and / or services provided by the payment solution engaged in case of misinformation or wrong information from GAP Partner. Before making any offer for purchase of Gold, you understand and acknowledge that Issuance of Invoice at the time of Purchase of Gold, only records making of an offer by you for purchase of the quantity of Gold stated therein and does not create any right, title or interest in the quantity of the gold stated therein and/or against MMTC-PAMP. The right, title and interest in the quantity of gold stated in the invoice will only accrue upon acceptance of such offer by MMTC-PAMP and upon actual receipt of sale consideration by MMTC-PAMP.


10.    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 Partner Platform.  The list of redeemable products may be altered, changed and amended by MMTC-PAMP from time to time at its sole discretion. 

11.    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.

12.    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 Gold account subject to terms herein. The Gold purchased by you will be allocated and stored in a highly advanced and secured vault of MMTC-PAMP, with full insurance cover. 

13.    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) gm 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.

14.    Once the redemption has been initiated by you and payment received then your Gold grams will be debited accordingly from your Gold account.

15.    MMTC-PAMP may also, from time to time in future, offer / permit the Customer to sell-back its Gold to MMTC-PAMP 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 Gold sold by a Customer would be credited to the Customer’s bank account as per the details provided by the Customer.

16.    Live purchase price of Gold will be displayed on the Partner 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. MMTC-PAMP disclaims any and all claims and / or liabilities arising from such non-acceptance of offer or revision in prices.

17.    While availing any of the payment method(s) available on the Partner 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 prescribed by MMTC-PAMP; 


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

d)    Temporary discontinuation of invitation to offer or offer to sell back; 

e)    Any unauthorized, inaccurate or fraudulent transactions and / or for any chargeback transactions; and / or

f)    Decline of transaction for any reason(s) whatsoever.

18.    MMTC-PAMP may, at its discretion, prescribe maximum individual / cumulative limits for Customer(s) to accumulate Gold, purchase Gold, redemption of Customer redeemable Gold, Transfer or sell back of Gold or any other transaction under GAP from time to time and reserves the right to refuse to accept order exceeding such limit. MMTC-PAMP may at its discretion, prescribe maximum individual / cumulative transaction limits on GAP from time to time, and reserves the right to refuse to accept order exceeding such limit. 

19.    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.

20.    MMTC-PAMP may, at its discretion, close down, suspend and / or migrate the Gold account of Customer(s), if (a) the Custody Period has expired; and / or (b) MMTC-PAMP decides to discontinue the GAP scheme and / or (c) any other reason(s) as may be determined by MMTC-PAMP. In such event(s) the Customer can redeem the Gold accumulated by him/her in his/her Gold account, and take delivery of the redeemable products and sell back to MMTC-PAMP the residual fractional Gold lying in his / her Gold account at the live sell-back price of Gold. Further, if the open sale back window is made available by MMTC-PAMP, then the Customer may sell back the product in his/her Gold account in whole or in part. The redemption and sell back by the Customer shall be as per terms prescribed by MMTC-PAMP’s in the notice given for exercising the right to close, under this clause. 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 Gold account of the Customer. In the event the Customer(s) fails, neglects or chooses not to redeem and / or sell-back, as applicable, their Gold holdings within the time prescribed, then MMTC-PAMP will be entitled to levy on Customer(s), custody charges at the rate of up to 0.5% (zero point five percent) per annum of the value of the Gold balance of the Customer held in the custody of MMTC-PAMP. The custody charges will be deducted from the Gold balance of the Customer as per frequency determined by MMTC-PAMP. In the event that MMTC-PAMP does not exercise its’ discretion to close down the Gold account of Customer(s) in terms of this clause, Customer(s) can continue their Gold account by paying the custody charges as provided above. 


21.    The Customer will not be entitled to make an offer for delivery if the zip code of delivery address is outside serviceable areas. 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 or if the delivery address subsequently becomes unserviceable, then on being notified, Customer may  sale-back the Gold during the open sale back window as per Terms herein;. 

22.    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. 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, MMTC-PAMP disclaims any claims or liabilities arising from any delay in this regard. 

23.    Delivery by the logistics partners designated by MMTC-PAMP from time to time shall be completed only after verification through an OTP (One-Time Password) sent to the registered mobile number or such other verification / authentication system that may be adopted by MMTC-PAMP from time to time for delivery of Gold. In case the Customer wishes to change the mobile number or address provided, a formal request shall be raised for the same via Partner Platform. 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. 

24.    In case Customer doesn’t get the delivery due to any reasons attributed to MMTC-PAMP or its delivery partner then the Customer will get the refund of making and delivery charges.

25.    In case delivery doesn’t happen due to unavailability of the Customer or any other reason attributed to the Customer then, MMTC-PAMP shall not be liable for refund of making and delivery charges.

26.    Any Customer disputes, grievances, complaints, queries or issues with respect to the transaction including with respect to the quality and merchantability, shall be directed to the Partner by the Customer and will be subject to the Terms herein and addressed as per the grievance redressal policies for the GAP products and services. 

27.    MMTC-PAMP shall not be liable to directly entertain any such disputes, grievances, complaints, queries or issues. 

28.    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 Partner Platform and / or acts / omission. MMTC-PAMP shall not be liable / responsible, in any manner whatsoever, for any loss / liability arising out of or relating to any technical failure / any issues related to MMTC-PAMP Services and / or acts / omission attributable to Partner and/or Retailers, agents, employees, subcontractors, distributors etc appointed/engaged by the Partner. 

29.    Notwithstanding anything contrary contained herein, the Customer acknowledges that from time to time, and for any reason, 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 is not 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 Gold account is over credited or wrongfully credited / debited, then MMTC 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 Gold account, as the case may be. 

30.    Upon MMTC-PAMP confirming the purchase, redemption, sale-back of Gold in his / her Gold account by Customer, the order / request of Customer to purchase / redemption / sale-back / Transfer of Gold, as the case may be, shall be binding on the Customer and cannot be cancelled. 

31.    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 Gold account, failing which it shall be deemed that there is no error or discrepancies in the account. All records maintained by MMTC-PAMP / Partner, 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.

32.     The Customer understands and acknowledges that any purchase, suspension of sale of products, redemption, Transfer or sale-back from / to Gold account / Transfer of Gold 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, suspension of sale of products, redemption, Transfer or sale-back to and from the Gold account, Transfer of Gold 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.

33.    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 and / or / its affiliates and other group companies and their agents liable for use of the aforesaid information.

34.    In the event of termination / expiry of MMTC-PAMP’s arrangement with Partner, the Customer will be notified and the Customer will have the option to either:  (i) continue with its Gold account with MMTC PAMP; or (ii) discontinue with its Gold account with MMTC-PAMP. If Customer chooses to continue with the Gold account of the Customer, their Gold 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 the Gold account of the Customer, then the Customer shall have the option to redeem the entire product in his Gold account and take delivery of redeemable product and sell-back residual fractional Gold at the live sell-back price of Gold.  In case of open sale back window, may sell-back the entire product in his/her Gold account, at the then prevailing live sell-back price of Gold. In addition, MMTC-PAMP may notify the Customer on other available similar options / plans on the Partner Platform, and the Customer, may choose to avail of any of such options provided by MMTC-PAMP by following simple steps notified in that regard. If the Customer fails to redeem the product in the Gold account within the prescribed time, MMTC-PAMP will be entitled to charge custody charges as per clause 20 of these Terms. MMTC-PAMP will not be liable for any loss, claim, demand, liability etc. arising on account of termination / expiry of MMTC-PAMP’s arrangement with Partner. 

35.    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.
 
36.    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.

37.    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.

38.    Data Privacy: The MMTC-PAMP Privacy Policy, as available on the website [insert link] may be amended, supplemented and / or substituted from time to time, and shall apply to all personal data and / or sensitive personal data or information that you provide to MMTC-PAMP or that MMTC-PAMP has obtained from any other sources or that arises from your relationship with MMTC-PAMP. You hereby consent to MMTC-PAMP’s collection, transfer, storage, use, disclosure and processing of your personal data and / or sensitive personal data or information in accordance with the GAP Agreement. Any information will not be considered as sensitive if it is freely available and accessible in the public domain or is furnished under the Right to Information Act, 2005 or any other law for the time being in force. You warrant that the personal data and / or sensitive personal data or information that you provide to MMTC-PAMP is true, accurate and complete. Any consent you give in relation to personal data and / or sensitive personal data or information, shall survive your death, incapacity, bankruptcy or insolvency, as the case may be.

39.    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 Partner’s 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 you 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 Gold Account.

40.    Fraudulent Activity: If MMTC-PAMP suspects that fraudulent activity has taken place within your Gold account, in order to protect you, you understand that we may temporarily freeze your Gold account to prevent any further or continuing unauthorized activity.

41.    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.

42.    Customer representations and warranties:

a)    The Customer is 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.

43.    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 GAP 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, MMTC-PAMP has only provided general advice, 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; 

d)    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. 

44.    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 Gold 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 Partner Platform, for any orders transmitted through the Partner Platform and for all communications and the accuracy of all information sent via the Partner 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 Partner Platform.

f)    You understand and acknowledge that Issuance of Invoice at the time of Purchase of Gold, only records making of an offer by you for purchase of the quantity of Gold stated therein and does not create any right, title or interest in the quantity of the gold stated therein and/or against MMTC-PAMP. The right, title and interest in the quantity of gold stated in the invoice will only accrue upon acceptance of such offer by MMTC-PAMP and upon actual receipt of sale consideration by MMTC-PAMP.

g)    You understand and acknowledge that MMTC-PAMP has NOT given any right or authority to either PARTNER or any of its Retailers, agents, employees, subcontractors, distributors etc. to make any representation or assurance to you on behalf of MMTC-PAMP or any other authority to act as an agent of MMTC-PAMP. MMTC-PAMP is separate and independent entity from PARTNER and has no relationship of any nature whatsoever with the Retailers, agents, employees, subcontractors, distributors etc appointed/engaged by the PARTNER.

45.    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; 

46.    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 of that provision or right. The exercise of one or more of 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 

47.    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 Partner 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. 

48.    Absence of relationship: You represent and warrant to MMTC-PAMP that you have sufficient experience and knowledge to make informed decisions to purchase / redeem / sale-back Gold / redeemable products / Transfer of Gold You acknowledge that you are making all of your own decisions in connection with purchases 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 / Transfer of Gold. No relationship other than seller-purchaser, 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 Partner.

49.    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.\

50.    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.
51.    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 Partner Platform by the Customer; (ii) by reason of MMTC-PAMP ‘s 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 Gold 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: 
a)    Effecting transaction based on instructions received from Customers;

b)    The instruction of a Customer to Transfer Gold from his / her Gold account to another Gold account; 

c)    The exercise by MMTC-PAMP of its right to terminate / exercise the facility / services provided on the Partner Platform; 

d)    Any injury to the credit, character and reputation of the Customer due to use of facility / services on the Partner Platform;

e)    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 authorized 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.

f)    For any breach of contract / terms / conditions agreed between Customer(s) and Partner Platform and / or between Partner Platform and any third party. 

52.    Disclaimers and limits of liability: 

a)    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 Partner Platform, in these Terms, etc., shall not be construed as any advice or recommendation given or views expressed to the Customer, by MMTC-PAMP. 

b)    MMTC-PAMP does not make any representations, recommendations, projections, warranties or guarantees of any kind, either expressed or implied, including but not limited to the performance of its Gold / redeemable products with respect to future prices or any return on investment; all warranties of merchantability and fitness for a particular purpose as well as warranties regarding the accuracy, correctness, or completeness of the information, data, content, materials or the services associated with operation of GAP, or the service, or the safety, reliability, title, timeliness, completeness, title, merchantability, conformity or fitness for a particular purpose of the information, data, content, materials or the services associated with the operation of the service. MMTC-PAMP makes no representation, warranty or guarantee that the MMTC-PAMP Platform or its information, data, content, materials, or services is free of infection from any viruses, worms, trojan horses, trap doors, back doors, time bombs, cancel bots or other code or computer programming routines that contain contaminating or destructive properties or that are intended to damage, detrimentally interfere with, surreptitiously intercept or expropriate any system, application, interface, content, data or financial / personal information.

c)    GAP and the related service by MMTC-PAMP and 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, (i) including, without limitation, as may be due in whole or in part to, related to or arising out of MMTC-PAMP’s computer hardware and software / platform, telecommunication and operating systems, databases, or business processes and procedures, (ii) as well as other problems inherent in, or which may be associated with, the use of the internet and electronic communications including, without limitation, force majeure events as well as government, regulatory and acts and omissions of third parties affecting or impacting GAP or MMTC-PAMP Services, its information and data, or such communications and MMTC-PAMP shall not be liable for any damages, liabilities, claims, demands, etc. for any loss caused to or suffered by the Customer and MMTC-PAMP disclaims any liability arising due to the same.

d)    The GAP is controlled and offered by MMTC-PAMP in India. MMTC-PAMP makes no representations, warranties or guarantees that the GAP is appropriate or available for use in other jurisdictions. If Customer accesses or uses the GAP or MMTC-PAMP’s Service from other jurisdictions, then Customer does so by Customer’s own volition and Customer is solely responsible for compliance with local law. 

e)    MMTC-PAMP reserves the right at any time and without notice, in MMTC-PAMP’s sole and absolute discretion, to have the GAP hosted by or through one or more other entities and / or in one or more other jurisdictions, provided there shall be no material deterioration in the level of performance of GAP. Subject to the foregoing, the terms and conditions upon which MMTC-PAMP may offer a hosted service, shall be in MMTC-PAMP’s sole and absolute discretion, save and except expressly agreed herein. 

f)    MMTC-PAMP shall not be liable for Customer’s failure to follow MMTC-PAMP’s reasonable instructions in connection with the GAP and transactions or for the Customer’s incorrect use or misuse of GAP. Notwithstanding anything in these Terms to the contrary, MMTC-PAMP does not and shall not have or bear any responsibility or liability to the Customer(s) with respect to transaction or transaction quotations, orders, acceptances, confirmations, statements of account, or payments.

g)    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 Gold account of any other Customer. 

h)    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.

i)    The Customer understands and acknowledges that MMTC-PAMP, or any of its respective directors, employees, agents, shall not be liable for any damages, liabilities, claims, demands, etc. by Customer(s) or any loss caused to or suffered by the Customer, for any reason whatsoever. causes of action under these Terms and the facility / services provided by MMTC-PAMP save and except loss caused to the Customer due to quality or merchantability of product or redeemed product sold by MMTC-PAMP. In any case, the liability shall not collectively exceed total amount paid by you, if any, for the particular transaction in question. The foregoing limitation of liability shall apply to the fullest extent permitted by law in the applicable jurisdiction.

j)    No claim of whatsoever nature arising out of or relating to the use of the Partner Platform and/or any action/omission by Part,ner, or any of its Retailers, agents, employees, subcontractors, distributors etc. shall lie against MMTC-PAMP.

53.    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.  

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.

54.    You declare that you are not an unregistered dealer of Gold and silver or any other precious metal ornament or any related product.

55.    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