MicroGraam Terms of Use Agreement

1. Introduction

MicroGraam Marketplace Private Limited manages www.micrograam.com (the “Website”), a peer-to-peer lending site which matches persons registered to lend money on the Website (each, a "Lender" and, collectively, "Lenders") with persons registered to borrow money through the Website (each, a "Borrower" and, collectively, "Borrowers"). For the purposes of this Terms of Use Agreement, Lender, Borrower or any other user of the website shall each be referred to as “User”.

MicroGraam Marketplace Private Limited is an India based private limited company, incorporated under the Companies Act, 2013 (together with its officers, directors, agents, employees, partners and their respective affiliates, collectively, "MicroGraam"). This Terms of Use Agreement ("Agreement") is a contract between User (hereinafter also referred to as “You”) and MicroGraam and governs all transactions between you and MicroGraam, as well as your use of the Website and all MicroGraam services. By using the Website, you agree to be bound by this Agreement, whether or not you become a Lender or Borrower or otherwise use the Website. If you wish to become a User of the Website, you must read all of the terms and conditions in, and linked to, this Agreement (including the Privacy Policy). We encourage Users to read this Agreement carefully while using the Website.

This Agreement supersedes any previous Terms of Use Agreement to which you and MicroGraam may have been bound. This Agreement may be modified by MicroGraam in its sole discretion from time to time and such modifications shall automatically become part of this Agreement and shall be effective once posted by MicroGraam on the Website. Your use of the Website will be subject to any such modifications. You should review the Website and this Agreement from time to time for any modifications.

This Agreement will be binding on, and be enforceable against the parties and their respective successors and assigns. Neither the course of conduct between parties nor trade practice shall act to modify any provision of the Agreement. All rights not expressly granted herein are hereby reserved. Headings are for reference purposes only and in no way define, limit, construe or describe the scope or extent of such section.

Nothing in this Agreement shall constitute or be deemed to constitute a partnership, joint venture, agency or the like between the parties hereto or confer on any party any authority to bind the other party or to contract in the name of the other party or to incur any liability or obligation on behalf of the other party.

The contents set out herein form an electronic record in terms of Information Technology Act, 2000 and rules thereunder, as applicable, and as amended from time to time. This document does not require any physical or digital signatures and forms a valid and binding agreement between MicroGraam and the User. This Agreement is made available to the User pursuant to and in accordance with the provisions of Rule 3 (1) of the Information Technology (Intermediaries Guidelines) Rules, 2011 that require publishing the rules, regulations, privacy policy and terms of use for access or usage of the Website.

You may receive a written copy of this Agreement by emailing us at: info@micrograam.com, Subject: MicroGraam Terms of Use Agreement.

2. Use of the Website

Use of the Website is available only to such persons who can legally contract under Indian Contract Act, 1872. Persons who are “incompetent to contract” within the meaning of the Indian Contract Act, 1872 including minors, un-discharged insolvents etc. shall not be eligible to use the Website. If the person accessing the Website is a minor i.e. under the age of 18 years, such person shall not register as a User of the Website and shall not transact on or use the Website.

By accepting this Agreement, the User irrevocably declares and undertakes that he/she is aged 18 years or older and is capable of entering into a binding contract and that such acceptance shall be deemed to form a contract between MicroGraam and such User to the extent permissible under applicable laws.

By accepting the Agreement, you also acknowledge that you have also read and understood the risks involved in lending or borrowing through the Website.

MicroGraam reserves the right to terminate participation of Users and/or refuse to provide access to the Website if it is brought to MicroGraam’s notice or if it is discovered that the person accessing/using the Website is not eligible to use the Website under the terms of this Agreement or any other law of the land.

2.1 Lender’s Responsibilities

In many instances, Borrowers on our Website have profiles that are considered "high risk" by traditional lenders for a variety of factors, including, but not limited to, the Borrowers' lack of credit history, financial instability, use of the loan proceeds for entrepreneurial endeavors, the risks inherent in a "start-up" business, and geographic location. Lenders should carefully review the various risks associated with lending to such Borrowers on MicroGraam.

By using this Website, you hereby acknowledge and agree that (a) MicroGraam makes no representation, warranty, covenant or guarantee that any funds you lend to a Borrower via the Website will be repaid in whole or in part and (b) loans made via the Website (each, a "Loan") are unsecured and bear a high risk of non-repayment. Loans made via the Website are not intended as, and cannot be considered as, an investment in a financial instrument or security.

2.2 Borrower’s Responsibilities

Borrowers are solely responsible for the accuracy of the data and information provided by them during or any time after the registration process. Borrowers must keep their data on the Website updated at all times.

Borrowers using the Website must ensure that they understand the implications of the Loans that they have applied for. It is the Borrowers’ responsibility to ensure that the loan amount sought is commensurate with their needs and ability to repay.

Borrowers agree and acknowledge that there is no guarantee that the Loan requested by them on the Website will get funded. In case, not enough Lenders agree to fund the full Loan, the Loan shall not be disbursed and may be removed from the Website by MicroGraam.

2.3. Eligible Lenders

For the purposes of this clause, an "Eligible Lender" means a person who:

a) Is an individual, being a natural person above the age of 21 years, who is eligible to lend in India; this includes a resident of India and a person designated as a non-resident Indian. Non-resident Indians can give loans from their INR-denominated bank accounts only. Non-resident Indians are required to understand the lending restrictions which may be applicable as per government or RBI regulations.


b) Is an artificial person being a company, partnership, association of persons, society or a trust, that, by becoming a Lender on the Website, adheres to all applicable legal and regulatory requirements as prescribed under relevant regulations and laws.

In all cases, Lenders must not be involved in, or be connected with any unlawful activity;

The eligibility of a Lender(s) may be altered or modified by MicroGraam at any time at its sole discretion, without prior intimation, to include additional classes of Users or restrict the classes of existing Users.

MicroGraam reserves the right to limit the amount of finance made by a Lender. This may be done using various controls, such as suspending account activity, intimating the Lender, or removing the Lender from the list of Lenders.

2.4. Eligible Borrowers

You agree that you are an "Eligible Borrower"; for the purposes of this clause, an "Eligible Borrower" means a person who:

  1. Is an income earning individual above the age of 21 years;
  2. Is not facing any civil or criminal litigation;
  3. Is not involved in, or connected with any unlawful activity.

The eligibility of Borrowers may be altered or modified by MicroGraam, without prior intimation, at any time at its sole discretion to include additional classes of Users or restrict the classes of existing Users.

2.5 Authorization to Conduct Background Verification

The User understands and acknowledges that as a part of registering the User on the Website and enabling the User to transact on the Website, MicroGraam will conduct certain background verification activities. These activities may include verification of identity and KYC, checking in fraud databases, enquiries to Credit Information Bureau, residence and/or work verification, etc. By applying for registration on the Website, the User agrees to and authorizes MicroGraam to carry out such verification activities.

Users of the Micrograam’s website may be required to provide certain personal information and expressly permit MicroGraam to access and/or collect and retain such personal information. Such provision and/or collection, storage, retention, use and disclosure of the personal information of the Users shall be subject to MicroGraam’s Privacy Policy.

If any User provides any information that is untrue, false and/or incomplete or if MicroGraam has reasonable grounds to believe that such information is untrue, false and/or incomplete, MicroGraam shall have the right to suspend or terminate the relevant User account and refuse any or all current and future use of the website (or any portion thereof).

2.6 Loan Disbursement

Funds loaned by the Lender(s) will be transferred to the Borrower(s) they have selected. MicroGraam serves as an intermediary in the process and aggregates funds from multiple Lenders via the Website and delivers these funds to the Borrowers selected for funding on the Website. The terms and conditions of the Loan will derive from the terms and conditions of the Loan Agreement executed between the Borrower and Lender(s). Users hereby acknowledge and agree that MicroGraam is merely enabling the disbursement of loan funds received from the Lender(s) and is not a party to the Loan Agreement, nor the provider of the Loans, or any part thereof.

MicroGraam, using its network, provides, on a best effort basis, the service of screening each Borrower and posting requests for Loans on the Website. MicroGraam shall have no liability whatsoever with respect to such screening of Borrowers or the details of Borrowers posted on the Website. Users shall hold MicroGraam harmless from, any and all liabilities with respect to, or resulting from such screenings and Loan postings on the Website.

2.7 Loan Collection and Repayment:

Every Loan disbursed using the Website is repaid directly by the concerned Borrower. As Borrowers repay the Loans, MicroGraam will post a record of such repayments to the Website. Repayments may be made in periodic installments, depending on the terms of the applicable Loan. If MicroGraam, for any reason, is unable to collect Loan repayments directly from the Borrower, Loans repayments could be at risk of partial or total delay leading to possible non-repayment and the loss of some or all of the Loan. Lenders hereby acknowledge and agree that MicroGraam is obligated to repay only such Loan principal to the extent actually received by MicroGraam with respect to a Borrower. Neither MicroGraam nor its agents will have any obligation to pay principal or interest on the Loan or other fees or amounts (other than as expressly agreed) Lenders in connection with any Loan. Users agree and acknowledge that repayment and collection of Loans are guided by the terms of the Loan Agreement executed between the Borrower and Lender(s).

2.8 Principal Loss Scenarios

MicroGraam will generally deem a Loan to be in default if MicroGraam determines that collection of funds for such Loan is doubtful or a repayment on the Loan is six (6) months past the originally scheduled repayment date (for any expected repayment, including interim repayments).

If for any reason, less than 100% of any Loan is repaid, Lenders agree that MicroGraam shall have no liability therefor and will be released and forever held harmless for any loss incurred by the Lenders. Users should consult with their accountants and/or tax advisors to determine the appropriate tax treatment of such a loss.

2.9 Part Funding of Loans

Lenders may choose to lend only a part of the Loan requested by a Borrower on the Website. Money transferred by Lenders to the designated disbursal bank account, on agreeing to provide a part of the Loan, shall remain in the said bank account till the Borrower's Loan is fully funded i.e. the entire Loan requirement is fulfilled by Lenders on the Website. On the entire Loan requirement being fulfilled, the full Loan amount will be transferred to the Borrower.

All Borrower profiles shall carry an expiry date and the Borrower profile will be removed from the Website at the end of such expiry date even if the entire Loan requirement is not fulfilled.

All Borrowers using the Website agree and understand that they will be bound by the expiry date decided by MicroGraam and that MicroGraam shall bear no liability in case a Borrower's profile is removed from the Website without the entire Loan getting funded.

All Lenders using the Website agree and understand that the funds transferred by them to the disbursal bank account shall not earn them any interest while they are lying in the disbursal bank account and will only begin earning interest at the time the full loan amount is transferred to the Borrower. In cases where the full Loan amount is not funded on the Website till the expiry date of the Borrower profile, amounts already collected from each Lender for the un-funded Loan shall be returned to the respective Lender and no interest shall be payable to any Lender on the funds so returned.

3. Proprietary Rights

"MicroGraam" and the "MicroGraam" logo are trademarks and service marks of MicroGraam. MicroGraam or its licensors own and retain all proprietary rights in the Program, the Website and all material and information posted thereon ("Content"). The Website contains the copyrighted material, trademarks and other proprietary information of MicroGraam and its licensors. Users may not alter, modify, publish, distribute, publicly display or sell any Content or other such proprietary information, or otherwise copy or transmit any Content or other such proprietary information without the express, written permission of MicroGraam. In addition, to the extent Users receive information from MicroGraam or other Users with respect to any Loan delinquency or default of a particular Borrower, Users may not further disclose or otherwise provide such information to another party in a way that allows a personal identification of such Borrower.

If Users post any messages or other information on the Website, Users agree that such messages and information shall be considered Content, and they agree to grant, and shall be deemed to have automatically granted to MicroGraam an irrevocable, perpetual, non-exclusive, fully-paid, worldwide license to: (a) use, copy, perform, display and distribute such information and content; (b) modify, alter, prepare derivative works of, and/or incorporate into other works, such information and content; and (c) grant and authorize sublicenses of the foregoing. Users represent and warrant that they have the right, power and authority to grant the foregoing license.

To the extent Users upload or post any photographs of themselves on the Website, Users agree and understand that such materials shall be considered Content for the purposes of the foregoing paragraph, and they agree to release, discharge and agree to hold harmless MicroGraam from any and all claims or liability, whether known or unknown, including any and all claims in connection with the publication, production, processing, distribution or exploitation of such materials, including any claims of infringement of any rights of publicity or rights of privacy.

Users acknowledge, consent and agree that MicroGraam may, at its sole discretion and to the extent permitted by law, access, read, preserve and disclose your account information, usage history and submitted content in order to: (a) comply with any applicable law, regulation, legal process, or governmental request; (b) respond to claims that any Content violates the rights of third parties, including intellectual property rights; (c) enforce this Agreement and investigate potential violations thereof; (d) detect, prevent, or otherwise address fraud, security, or technical issues; (e) respond to your requests for customer service; or (f) protect the rights, property, or personal safety of MicroGraam, its users, or the public.

4. Acceptable Use

The Website is for use in connection with peer to peer lending activities and may not be used by Users in connection with any other endeavors, commercial or otherwise, except as previously approved in writing by MicroGraam. Your use of the Website shall be in strict compliance with this Agreement, MicroGraam's Privacy Policy and all other procedures and guidelines set forth on the Website and applicable law.

MicroGraam grants every User a limited, non-exclusive and revocable license to access the Website only to the extent that such use does not violate this Terms of Use Agreement.

Users may not engage in advertising to, or solicitation of, any User, Lender, Borrower or any other person to buy or sell any products or services through the Website. Only authorized Borrowers may seek loans on the Website. Users may not transmit any chain letters or junk email to any User, Lender, Borrower or any other person. Illegal and/or unauthorized uses of the Website, including collecting the name, email address or any other personal or confidential information of any User, Lender, Borrower or any other person by electronic or other means for any reason, including, without limitation, the purpose of sending unsolicited email and unauthorized framing of or linking to the Website, will be investigated and appropriate legal action will be taken, including, without limitation, civil, criminal and injunctive redress. Although MicroGraam assumes no obligation to monitor the conduct of any User of the Website, it is a violation of this Agreement to use the Website or any information obtained from the Website in order to harass, abuse, or harm another person including, but not limited to, using profanity and issuing threats.

MicroGraam reserves the right to remove content from the Website that violates acceptable use in MicroGraam's sole discretion. MicroGraam can refuse to act on any instruction received from a User that appears, in MicroGraam’s sole discretion, to be in breach of legal, regulatory or other guidelines, or is in breach of this Agreement or other rules, procedures and guidelines for using this Website.

The Website includes features and functionality whereby a User may post and transmit information, images and other materials. All such information, images and materials, whether publicly posted or publicly or privately transmitted, are the sole responsibility of the User who originates such content. MicroGraam assumes no obligation to monitor or control such posted or transmitted content and cannot take responsibility for such content posted or transmitted by a User. However, MicroGraam reserves the right at all times (but will not have an obligation) to remove or refuse to post or distribute any content, and to restrict, suspend or terminate the participation of any User from the Website and from all MicroGraam services and programs at any time, with or without prior notice. Without in any way limiting the foregoing, it is a violation of this Agreement to upload, post or submit any content, including, but not limited to, written materials or images, that in MicroGraam’s opinion is obscene, harassing, contains profanity, or may be hateful or offensive on racial, ethnic, sexual or any other grounds; is harmful, vulgar or distasteful; contains graphic or gratuitous violence; or is defamatory, libelous, or invades another person's privacy or proprietary rights.

If any User learns or becomes aware of any instance of hacking or misuse of its MicroGraam login or account, it shall immediately inform MicroGraam of the same. No User shall trade or sell such MicroGraam login or accounts in any manner whatsoever.

While using the Website, the User specifically undertakes not to host, display, upload, publish, transmit or share any information or content that impersonates any person or entity, misrepresents the User’s affiliation with a person or entity or contains software viruses or any other computer code, files or programs designed to interrupt or limit the functionality of any computer resource. Further, the User undertakes not to engage in any activity that interferes with or disrupts access to the Website or the servers and networks related to the Website, attempt to gain unauthorized access to any portion or feature or server of the Website by hacking, password mining or any other illegitimate means. The User also undertakes not to probe, scan or test the vulnerability of the Website or any network connected to the Website, nor breach the security or authentication measures on the Website or any network connected to the Website, nor to disrupt or interfere with the security of, or otherwise cause harm to, the Website and its servers and system resources.

MicroGraam disclaims and the User waives off, any and all claims/liabilities arising out of any unlawful usage of the Website, personal information of the User, inaccessibility of the Website for any reason whatsoever, which are caused owing to causes beyond the control of MicroGraam.

MicroGraam prohibits the use of content available through the Website, including but not limited to: (a) any downloading, copying or other use of the content or the Website for purposes competitive to MicroGraam or for the benefit of any third party; (b) any caching or unauthorized linking to the Website; (c) any modification, distribution, transmission, publication, reverse engineering or any other use of content that is in violation of intellectual property rights of MicroGraam or any User of the Website; (d) using any hardware or software to intercept or otherwise obtain any information from the Website or (vi) any action that imposes an unreasonably large load on the Website’s infrastructure.

5. Disclaimers

MicroGraam is not responsible, and shall have no liability, for any incorrect or inaccurate Content posted on the Website or any liability, cost or expense Users may incur in connection with using the Website, whether caused by any User, Lender, Borrower or other Person or by any of the equipment or programming associated with or utilized on the Website. MicroGraam is not responsible for the conduct, whether online or offline, of any User of the Website or any other Person. With respect to the Website, MicroGraam assumes no responsibility for any error, omission, interruption, deletion, defect, delay in operation or transmission, communications line failure, theft or destruction or unauthorized access to, or alteration of, any communications.

Under no circumstances will MicroGraam be responsible for any loss or damage, including personal injury or death, resulting from any use of the Website or any content posted on the Website or transmitted to, or any interactions between, any Users of the Website, whether online or offline. MicroGraam neither represents, warrants, covenants guarantees, nor promises any specific results from use of the Website.

The website, including any content or information contained within it or any service or advice provided in connection with the program, is provided "as is" with no representations or warranties of any kind, express or implied, including, but not limited to, implied warranties of merchantability, fitness for a particular purpose and non-infringement. Users assume total responsibility and risk for their use of this website and website-related services.

MicroGraam makes no representation or warranty, express or implied, with respect to any third party data provided to MicroGraam or its transmission, timeliness, accuracy or completeness, including but not limited to implied warranties or warranties of merchantability or fitness for a particular purpose. MicroGraam will not be liable in any way to Users or to any other person for any inaccuracy, error or delay in or omission of any third party data or the transmission or delivery of any such third party data and any loss or damage arising from (a) any such inaccuracy, error, delay or omission, (b) non-performance or (c) interruption in any such third party data due either to any negligent act or omission by MicroGraam or "force majeure" or any other cause beyond the control of MicroGraam.

The Website may be inaccessible for such purposes as MicroGraam may, at its sole discretion, deem necessary, including but not limited to regular maintenance. MicroGraam may intimate Users from time to time regarding such inaccessibility. However, under no circumstances will MicroGraam be held liable for any losses or claims arising out of such inaccessibility to the Users, and the User expressly waives off any and all claims arising out of such inaccessibility.

6. Limitation of Liability

MicroGraam shall not be responsible for any act or omission which could be attributable to a default of any other person over which MicroGraam does not exercise control, including without limitation any error or failure or inability of the network service provider or any failure of any personnel of the client; provided, however, that MicroGraam shall be fully responsible for all acts or omissions of its subcontractors or other assigns.

MicroGraam shall not be liable for any inability to render any of the services by reason of any failure, delay or inability of the Lenders and Borrowers to agree on terms and conditions for the loan agreement.

MicroGraam and the Users’, Lenders’ and Borrowers’ sole remedy and MicroGraam's sole liability to the Lenders, and Borrowers on the platform and for any other claim arising in connection with this defect shall be the correction or repair of such breach or defect or the replacement of the defective or non-conforming portion of the platform

The remedies provided in this section shall be the Users’, Lenders and Borrowers sole and exclusive remedies for any and all claims arising in connection with the Terms of Use Agreement, made or suffered by the User or other party whether under contract or other legal theory.

In no event shall MicroGraam or its licensors be liable for special, exemplary, incidental, consequential, punitive or tort damages resulting from loss of use, loss of data, loss of profits or loss of business arising out of or in connection with these terms of use, including without limitation any such damages arising out of or in connection with the Users, Lenders and Borrowers of the platform, whether or not MicroGraam or its licensors have been advised of the possibility of such damages.

Notwithstanding anything contained in these terms of use, MicroGraam's aggregate liability to the Users, Lenders or Borrowers for any damages shall not exceed the amount of total fees received by MicroGraam from the said User, Lender or Borrower. In no event shall MicroGraam, its agents, or anyone else who has been involved in the creation, production, or delivery of these pages, be liable for any direct, incidental, or consequential damages resulting from the use of this Website or any linked site. MicroGraam uses its best endeavour to ensure the confidentiality and secrecy of user information and authorization.

If the login ID, password or any other authorization credentials have been lost, misplaced, or revealed to another person by any User, MicroGraam should be immediately intimated of the same, failing which, Users may be liable for the following consequences:

  1. Honouring any instruction given through your account using your login ID, password or any other authorization credentials;
  2. Any alteration, deletion or dissemination of your confidential information about you in the account/profile maintained by you on MicroGraam;
  3. Any unlawful act or authorization carried out using the stolen identification, password or authorization credentials.

MicroGraam shall not be liable for any loss or damage arising out of or in connection with any error or inaccuracy in the data entered by you or any other User, any negligence, breach of contract, misrepresentation or willful misconduct in relation to the Loan Agreement, Loan or other uses of the Website.

Waiver: Failure by MicroGraam to enforce any of its rights under this Agreement shall not be construed as a waiver of those rights or any other rights in any way whatsoever.

Unlawful Or Prohibited Use: Users undertake that as a condition of their use of the Website, they will not use the Website for any purpose that is unlawful or prohibited by or under any law, rules, orders, regulation, notification or circular issued by any local or governmental body in India, or these terms, conditions, and notices. Users shall not use the Website in any manner that could damage, disable, overburden, or impair any MicroGraam website, or interfere with any other party's use and enjoyment of the Website. Users shall not attempt to gain unauthorized access to any services, computer systems or networks connected to any MicroGraam server or to any of the services, through hacking, password mining or any other means. Further, Users shall not obtain or attempt to obtain any materials or information through any means not intentionally made available through the Website.

Users understand that any and all decisions made by them with respect to the Website are theirs alone. MicroGraam shall not be responsible, or have any duty or obligation to, or liability for: (a) decisions or interactions resulting (directly or indirectly) from use of the Website; or (b) any damages, costs, losses or expenses a User incurs as a result (directly or indirectly) of making a Loan to a Borrower or as a result (directly or indirectly) of utilizing the Website or information received in connection with the Website. In addition, in no event will MicroGraam be liable to any User or any third person for any damages, costs, losses or expenses, including any lost capital, lost profits or special, incidental, consequential or punitive damages arising from their use of the Website, even if MicroGraam has been advised of the possibility of such damages, costs, losses or expenses.

7. Governing Law; Resolution of Disputes; Arbitration and Waivers

This Agreement shall be construed and interpreted in accordance with the laws of India and the courts and tribunals in Bangalore shall alone have the jurisdiction thereof. If any dispute arises between Users and MicroGraam, including, without limitation, any dispute arising from or relating to the Website, Users agree that all such disputes will be determined exclusively by final and binding arbitration, in accordance with the laws of India and the courts and tribunals in Bangalore shall alone have the jurisdiction thereof.

To the extent permitted by applicable law, by agreeing to submit all disputes to binding arbitration, users and micrograam hereby waive their right to a jury or court trial of any claim or cause of action arising out of or based upon this agreement or any contemplated use herein, including contract, tort, breach of duty and all other claims, except as specifically provided above.

Users waive, to the maximum extent not prohibited by law, any right they may have to claim or recover, in any legal action or proceeding, any special, exemplary, punitive or consequential damages.

Any failure or delay by a party to enforce or exercise any provision of this Agreement shall not constitute a waiver by such party of that provision. The exercise of one or more of a party’s rights hereunder shall not be a waiver of, or preclude the exercise of, any rights or remedies available to such party under this Agreement or in law or at equity. Any waiver by a party shall only be made in writing and executed by a duly authorized officer of such party.

8. Indemnity

Users agree to indemnify and hold MicroGraam (and its officers, directors, agents and employees) harmless from any loss, liability, claim, or demand, including reasonable attorney's fees, made or incurred by any third party due to or arising (directly or indirectly) out of their use of the Website or arising from their breach of this Agreement.

9. Notices

All notices to be issued pursuant to this Agreement shall be served to the User by email or by general notification on the Website. Any notice to be sent to MicroGraam pursuant to this Agreement shall be sent to the grievance officer by e-mail at grievancecell@micrograam.com.

10. Assignment

This Agreement shall not be assigned or otherwise transferred by the User. However, MicroGraam’s obligations under this Agreement are freely assignable or otherwise transferable by MicroGraam to any third parties without needing Users’ prior consent.

11. Force Majeure

If performance of any service by MicroGraam under this Agreement 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 website, 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, which are beyond the reasonable control of MicroGraam then MicroGraam shall be 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 MicroGraam of its obligations herein.

12. Termination

This Agreement will remain in full force and effect while you use the Website and/or any MicroGraam services as a User and, notwithstanding anything herein to the contrary, this Agreement will remain in effect after your status as a User is terminated. Whether or not you are and remain eligible to use the Website or any MicroGraam services, may be determined by MicroGraam in its sole and absolute discretion.

Lenders may terminate their participation and status as a User at any time and for any reason by sending a written notice of termination to MicroGraam along with instructions for the disposition of their then-outstanding loans balance. Such Lenders shall be repaid as and when repayments are received from their Borrower(s).

Borrowers may terminate their participation and status as a User only and only if all their active loans availed through the MicroGraam platform and the associated interest, fees and penalties are fully repaid.

MicroGraam may also terminate your status as a User at any time and for any reason, effective upon transmission of notice to you at the email address you provide to MicroGraam. Upon such a MicroGraam-initiated termination, any pending repayments of loans given by you as a Lender which you may receive in the future shall also be returned to you in due course. If your status as a User is terminated by MicroGraam, you agree not to use the Website any further.

13. Entire Agreement

This Agreement, accepted upon use of the Website and further affirmed by becoming a User, contains the entire agreement between you and MicroGraam regarding the use of the Website. This Agreement may not be orally amended. If any provision of this Agreement is held invalid, the remainder of this Agreement shall continue in full force and effect.

Please contact us info@micrograam.com with any questions regarding this Agreement.