Lender declaration on registration

Lender Declaration

I am aware of the risks involved in online registration, and vulnerabilities and damages that may arise out of such vulnerabilities. I understand that the risks involved in P2P lending including loss of principal amount. I, or anyone on behalf of me, shall not hold P2PL or its team or affiliates directly or indirectly responsible for any damages caused due to loss of information or loss of money by using the services provided by P2PL and its team.

I confirm that the details provided for the registration and use of the services are given by me and are correct. I agree that P2PL or its team can take up legal actions including and not limited to forfeiting my deposit and future earnings out of it.

I confirm that I am above 18 (eighteen) years of age and a resident of India. I also confirm that I am not a defaulter to any lending entity.

I confirm that I understand all the Reserve Bank of India (RBI) and relevant guidelines on the lending including:

  1. That I will not grant loan more than Rs. 50,000/- (Rupees fifty thousand only) to a single borrower either on this platform or across all Peer to Peer Lending.
  2. I certify that I will not grant aggregate loan amount over and above of Rs. 50,00,000/- (Rupees fifty lakhs only) across all P2P Lending Platform.
  3. I agree to submit net-worth certificate from a practicing Chartered Accountant to P2PL, of a minimum of Rs. 50,00,000/- (Rupees fifty lakhs only) when my aggregate investments across all P2P platforms exceeds Rs. 10,00,000/- (Rupees ten lakhs only).
  4. I agree to abide by all the terms and conditions specified by P2PL or by statutory authorities. If I am found violating the same, I agree to indemnify and keep harmless P2PL/Company/team in full. Further I agree to bear penalty, if any imposed and all consequences in respect thereof.
  5. P2PL/Company shall be entitled to suspend my account immediately if I am found violated the terms and conditions.
  6. I acknowledge that P2PL platform does not assure return of principal or payment of interest. I also understand that there exists a likelihood of loss of entire principal amount in case of default by a borrower and P2PL/Company does not provide any assurance for the recovery of loans.
  7. I understand that RBI or any bodies including government does not accept any responsibility for the correctness of any of the statements or representations made or opinions expressed by P2PL/Company, and does not provide any assurance for repayment of the loans lent on it. 
  8. I authorize P2PL to hold my personal and financial data provided for the purpose of evaluations/current and future communication/Statutory compliance requirements. I shall not hold P2PL/Company for any loss of information and the resulting damages.
  9. I have made the above statement without any force, coercion or undue-influence.
  10. I understand the word ‘I’, ‘me’, my name or any term identifying me also applies for anyone representing me and these terms are applicable.
  11. I understand that the terms and conditions may undergo changes time to time, and this agreement extends to cover the new terms and conditions also, and deemed to be accepted by me.

I have read, and understood the Fair Practices Code and the Participant Terms and Conditions for use of the IFPL website/P2PL platform available at Fair Practices Code and Participants Terms and Conditions. I accept all the terms and conditions stated therein.