User Referral Program Terms & Conditions

1. Introduction and Scope

These terms govern the User Referral Program (“the Program”) run by Open Financial Technologies Pvt Ltd, a company incorporated under the Companies Act, 2013 and having its registered office at Tower 2, 3rd Floor, RGA Tech Park, 18 Sarjapur Road, Carmelaram, Bengaluru – 560035, Karnataka (“Open”/ “We”/”Us”/ “Our”).

By submitting a Prospective User as a Referral through the online Referral Form available on Our website https://partners.open.money (“website”) you, the Referrer are deemed to have read and accepted these Terms and Conditions (“T & Cs”). If you are submitting the Referral on behalf of an organization such as a partnership firm, company, LLPs, trusts, societies or HUFs, you confirm that you are authorised to bind your organization to these T & Cs. If you do not agree to these T & Cs, please do not proceed further with the submission of the Referral Form.

2. Eligibility

The Program is open to individuals aged 18 and above who have capacity to enter into a contract and to legally constituted entities. However, the following categories of individuals and entities are not eligible:

1. (i)Employees of Open, its directors and their immediate family members;
2. (ii)Any person referring themselves or a business they own or control;
3. (iii)Anyone barred by law, their employer or a person barred previously from a program or scheme run by Open.

3. Making a Referral

1. 3.1Please ensure you have taken specific consent from the business owner of the Prospective Users before submitting the information to Open. You further confirm that you have explained the purpose for which the data of the Prospective Users will be shared with Open.
2. 3.2You will be required to submit the Prospective User’s basic business details through the online Referral Form made available on the website. The details required to be submitted are business name, Prospective User’s website, the sector in which the Prospective User operates, contact person, business or official email address of the contact person, region of operations, Services required by the Prospective User, phone number and your payout information for the purpose of releasing payments as part of the Referral Program for Qualified Users which have become paying users of the Services. Any other information may also be requested for from time to time in the event of revision of the forms or to meet requirements of applicable law.
3. 3.3The Referral of a Prospective User shall be valid only if:
   1. (a)The Prospective User is not already an onboarded and transacting User and is not already in discussion with Open prior to the Referral;
   2. (b)It has to be the first Referral Open receives for the Prospective User which will be decided by Open based on internal screening of its records to ensure that the Prospective User referred by the Referrer is not a duplication;
   3. (c)The Prospective User must complete KYC and onboarding formalities and successfully fulfil all other regulatory requirements as required by Open under Applicable Laws.

We may contact the Prospective User directly and decide, at Our sole discretion, whether to offer them the Services and Open’s decision in this regard shall be final and will not be subject to any dispute.

4. Your Responsibilities as a Referrer

1. 4.1By submitting a Referral, you confirm and affirm as follows:
   1. (a)That you have informed the Prospective User and obtained their consent prior to sharing their business details and personal information with Us and have obtained their consent to permit Open to contact them;
   2. (b)That the information you provide Us about Prospective Users is accurate, current and lawfully obtained in accordance with the laws of India including the Digital Personal Data Protection Act, 2023 and the rules made thereunder;
   3. (c)That you will not make any promise, statement or representation about Our Services, pricing or terms beyond what Open publicly discloses and expressly provides to you along with the permission in writing to disclose to Prospective Users;
   4. (d)That you will not use spamming, unsolicited bulk messaging, misleading advertising or Our name, logos or trademarks without our written permission; and
   5. (e)You will comply with all applicable laws, including but not limited to anti-bribery, anti-money laundering and data protection laws.

5. Data Protection and Confidentiality

1. 5.1We process personal data of Referrers and Prospective Users in line with our Privacy Policy and the Digital Personal Data Protection Act, 2023. We use Referral data submitted to Us only to contact the Prospect about our Services, assess eligibility and administer the Program.
2. 5.2A Prospect may ask us at any time to stop contacting them or to delete their data by writing to letstalk@open.money.
3. 5.3We will not share the Prospective User's onboarding status, account details or commercial terms with you, except to confirm whether a Referred User is Qualified. Any non-public information about Open that you receive through the Program must be kept confidential and a breach will result in termination of your account as a Referrer and withholding of all referral rewards that may be due to you.
4. 5.4Open may also use the details of the Prospective Users once onboarded for the opted Services for the purpose of rendering the opted Services to the Prospective User once onboarded as a User as well as for promoting other Services of Open once the Prospective User converts into a User.

6. Referral rewards

1. 6.1For each Qualified User which becomes a paying User for the opted Services, commissions will be payable as per discussions and agreement between you and Open and shall be subject to the compliance by you with all other terms and conditions as well as compliance obligations. For the purpose of receiving payouts, you agree to provide Us with your GST, PAN, bank account details and other information as may be required to process payments of commission. All commissions will be paid out once Open receives a valid undisputed invoice which is based on the Qualified Users’ data under the Program shared with you by Open.

7. Relationship

1. 7.1You act independently. As between Open and you, you shall be an independent contractor and the relationship between You and Open in connection with the Program shall not constitute a partnership, joint venture or agency. You shall not have the authority to make any statements, representations or commitments of any kind, or to take any action, which shall be binding on Open, without the prior consent of Open. You may not bind us or accept anything on our behalf. You are not authorised to provide banking, payment, financial or investment advice on our behalf. Our Services are made available to Our Users only on our own terms, and through terms set by our regulated banking and payment partners where applicable.

8. Our rights

1. 8.1We may, at our sole discretion and without liability:
   1. (a)accept or reject any Referral or Prospect;
   2. (b)suspend or disqualify any Referrer suspected of fraud, misuse or breach of these terms; and
   3. (c)change, suspend or end the Program, or update these terms, by posting the revised version on our website. All changes apply to Referrals submitted once the revised terms are posted on the website.

9. Liability and indemnity

1. 9.1The Program is provided "as is". To the extent permitted by law, we are not liable for any indirect or consequential loss arising from the Program, and our total liability to you is limited to the rewards (if any) due to you for Qualified User referrals.
2. 9.2You agree to indemnify us against any claim, penalty or loss arising from your breach of these terms, including sharing a Prospect's data without consent or making unauthorised representations on behalf of Open.

10. Governing law and contact

These terms are governed by the laws of India. Courts at Bengaluru, Karnataka have exclusive jurisdiction over any dispute arising from the Program.

In case of any queries or concerns please write to letstalk@open.money