Terms & Conditions

Welcome to Formax Pay!

These terms and conditions outline the rules and regulations for the use of Formax Pay Website, located at .

By accessing this website we assume you accept these terms and conditions. Do not continue to use Formax Pay if you do not agree to take all of the terms and conditions stated on this page.

The following terminology applies to these Terms and Conditions, Privacy Statement and Disclaimer Notice and all Agreements: "Client", "You" and "Your" refers to you, the person log on this website and compliant to the Company’s terms and conditions. "The Company", "Ourselves", "We", "Our" and "Us", refers to our Company. "Party", "Parties", or "Us", refers to both the Client and ourselves. All terms refer to the offer, acceptance and consideration of payment necessary to undertake the process of our assistance to the Client in the most appropriate manner for the express purpose of meeting the Client’s needs in respect of provision of the Company’s stated services, in accordance with and subject to, prevailing law of Netherlands. Any use of the above terminology or other words in the singular, plural, capitalization and/or he/she or they, are taken as interchangeable and therefore as referring to same.

Cookies

We employ the use of cookies. By accessing Formax Pay, you agreed to use cookies in agreement with the Formax Pay Privacy Policy.

Most interactive websites use cookies to let us retrieve the user’s details for each visit. Cookies are used by our website to enable the functionality of certain areas to make it easier for people visiting our website. Some of our affiliate/advertising partners may also use cookies.

License

Unless otherwise stated, Formax Pay and/or its licensors own the intellectual property rights for all material on Formax Pay. All intellectual property rights are reserved. You may access this from Formax Pay for your own personal use subjected to restrictions set in these terms and conditions.

You must not:

1. Republish material from Formax Pay

2. Sell, rent or sub-license material from Formax Pay

4. Reproduce, duplicate or copy material from Formax Pay

5. Redistribute content from Formax Pay

Parts of this website offer an opportunity for users to post and exchange opinions and information in certain areas of the website. Formax Pay does not filter, edit, publish or review Comments prior to their presence on the website. Comments do not reflect the views and opinions of Formax Pay,its agents and/or affiliates. Comments reflect the views and opinions of the person who post their views and opinions. To the extent permitted by applicable laws, Formax Pay shall not be liable for the Comments or for any liability, damages or expenses caused and/or suffered as a result of any use of and/or posting of and/or appearance of the Comments on this website.

Formax Pay reserves the right to monitor all Comments and to remove any Comments which can be considered inappropriate, offensive or causes breach of these Terms and Conditions.

You warrant and represent that:

1. You are entitled to post the Comments on our website and have all necessary licenses and consents to do so;

2. The Comments do not invade any intellectual property right, including without limitation copyright, patent or trademark of any third party;

3. The Comments do not contain any defamatory, libelous, offensive, indecent or otherwise unlawful material which is an invasion of privacy

4. The Comments will not be used to solicit or promote business or custom or present commercial activities or unlawful activity.

You hereby grant Formax Pay a non-exclusive license to use, reproduce, edit and authorize others to use, reproduce and edit any of your Comments in any and all forms, formats or media.

Hyperlinking to our Content

The following organizations may link to our Website without prior written approval:

1. Government agencies;

2. Search engines;

3. News organizations;

4. Online directory distributors may link to our Website in the same manner as they hyperlink to the Websites of other listed businesses; and

5. System wide Accredited Businesses except soliciting non-profit organizations, charity shopping malls, and charity fundraising groups which may not hyperlink to our Web site.

These organizations may link to our home page, to publications or to other Website information so long as the link: (a) is not in any way deceptive; (b) does not falsely imply sponsorship, endorsement or approval of the linking party and its products and/or services; and (c) fits within the context of the linking party’s site.

We may consider and approve other link requests from the following types of organizations:

1. commonly-known consumer and/or business information sources;

2. dot.com community sites;

3. associations or other groups representing charities;

4. online directory distributors;

5. internet portals;

6. accounting, law and consulting firms; and

7. educational institutions and trade associations.

We will approve link requests from these organizations if we decide that: (a) the link would not make us look unfavorably to ourselves or to our accredited businesses; (b) the organization does not have any negative records with us; (c) the benefit to us from the visibility of the hyperlink compensates the absence of Formax Pay; and (d) the link is in the context of general resource information.

These organizations may link to our home page so long as the link: (a) is not in any way deceptive; (b) does not falsely imply sponsorship, endorsement or approval of the linking party and its products or services; and (c) fits within the context of the linking party’s site.

If you are one of the organizations listed in paragraph 2 above and are interested in linking to our website, you must inform us by sending an e-mail to Formax Pay. Please include your name, your organization name, contact information as well as the URL of your site, a list of any URLs from which you intend to link to our Website, and a list of the URLs on our site to which you would like to link. Wait 2-3 weeks for a response.

Approved organizations may hyperlink to our Website as follows:

1. By use of our corporate name; or

2. By use of the uniform resource locator being linked to; or

3. By use of any other description of our Website being linked to that makes sense within the context and format of content on the linking party’s site.

No use of Formax Pay logo or other artwork will be allowed for linking absent a trademark license agreement.

iFrames

Without prior approval and written permission, you may not create frames around our Webpages that alter in any way the visual presentation or appearance of our Website.

Content Liability

We shall not be hold responsible for any content that appears on your Website. You agree to protect and defend us against all claims that is rising on your Website. No link(s) should appear on any Website that may be interpreted as libelous, obscene or criminal, or which infringes, otherwise violates, or advocates the infringement or other violation of, any third party rights.

Your Privacy

Please read Privacy Policy

Reservation of Rights

We reserve the right to request that you remove all links or any particular link to our Website. You approve to immediately remove all links to our Website upon request. We also reserve the right to amen these terms and conditions and it’s linking policy at any time. By continuously linking to our Website, you agree to be bound to and follow these linking terms and conditions.

Removal of links from our website

If you find any link on our Website that is offensive for any reason, you are free to contact and inform us any moment. We will consider requests to remove links but we are not obligated to or so or to respond to you directly.

We do not ensure that the information on this website is correct, we do not warrant its completeness or accuracy; nor do we promise to ensure that the website remains available or that the material on the website is kept up to date.

Settlement

All settlements shall be in accordance with the RBI rules, regulations and guidelines as applicable
FORMAX shall settle Transactions carried out by Merchant through Nodal/Acquiring Bank
FORMAX shall process all valid Transactions of the Merchant through the Transaction Gateway Partners
FORMAX may provisionally credit the value of the processed Transactions to the Merchant Account
FORMAX may refuse to accept any Charge slip or revoke its prior acceptance of a Charge slip in the following circumstances: (a) the transaction giving rise to the Charge slip was not made in compliance with all the terms and conditions of this Agreement, or; (b) the Card Holder disputes his liability to Merchant/ FORMAX for any reason, including but not limited to those Chargeback rights enumerated in the Rules, or; (c) the transaction giving rise to the Charge slip was not directly between Merchant and Card Holder, or; (d) the transaction is outside the parameters indicated on the Merchant Application. Merchant shall pay FORMAX and for any amount previously credited to the Merchant for a Charge slip not accepted or later revoked by them
Merchant shall maintain one or more Settlement Accounts, for payment of the Transaction Amount less the charges, fees and other payments set out in Schedule. If Merchant intends to change the Settlement Account, Merchant must notify FORMAX with all relevant documentation for re-verification, and the same shall be affected within 3 working days of receipt of the Merchant’s notice with complete documentation after the re-verification is completed. Merchant shall pay FORMAX the Merchant Settlement Account Change Fee
FORMAX shall not be liable for any liability whatsoever including on account of delay in receipt of funds or errors in debit and credit entries caused by third parties including without limitation, any Card Brand, Acquiring Bank, Nodal Bank, Merchant’s Bank, couriers, communication carriers, servers and internet service providers, data processors, clearing houses or payment gateways, or any failure in electronic fund transfers, Server/system /network failure or any other glitches which are beyond the control of FORMAX
Monthly statements shall be available for viewing through the Merchant’s online account with FORMAX. All statements may be accessed from the Account Login on the website of FORMAX. Printed statements can also be obtained from FORMAX by paying Transaction Statement Fee. Merchant shall promptly examine the statements and notify FORMAX by email of all errors by providing Merchant’s name and Account number within 7 days for the occurrence of the error. FORMAX shall investigate the same within 30 days of receiving the email
Merchant authorizes FORMAX to initiate reversal or adjustment entries and initiate or suspend such entries necessary to grant Merchant conditional credit/debit. Merchant shall pay to FORMAX any charges and costs demanded by others or incurred by FORMAX on the Transactions
If FORMAX is of the opinion that a particular transaction is fraudulent or suspicious or incorrect data has been inserted by Merchant, Merchant alone shall be liable for the same
Merchant’s policy for the warranty/guarantee, exchange, return or replacement of goods sold and adjustment for services rendered and shall clearly specified on the invoice raised by Merchant. If Merchant fails to do so, a full refund in the form of a credit to the Card Holder’s Card account must be given by Merchant. Merchant shall not refund cash to a Card Holder who paid for the goods / service by Card. Credits in cases of refund must be made to the same Card account number on which the original Transaction was processed. To enable such refund, Merchant shall at all times maintain sufficient funds in the Merchant Account
FORMAX shall be entitled to establish and maintain for the Merchant a Reserve Account at any time prior to or after termination of this Agreement (with or without notice to Merchant), to ensure recovery of any liabilities owed by Merchant or reasonably anticipated by FORMAX to be owed by Merchant pursuant to this Agreement. FORMAX shall be entitled to do the following in relation to the Reserve Account
Set-off /deduct amounts arising out of actual and/or potential post termination Chargebacks, as well as any and all post-termination fees, charges and expenses due or anticipated to be due to FORMAX from Merchant;
Fund and/or replenish the Reserve Account by withholding or withdrawing from, or freezing all or any part of, the Merchant Account. The Reserve Account shall not bear interest;
Maintain the FORMAX’s Reserve Account and enforce its rights as regards the same event after termination of this Agreement till such time as all the payments due by Merchant to FORMAX remain outstanding
Customer Grievance Redressal: FORMAX adhere in addressing all customer grievances by following the guidelines and policies that are proposed by Regulators including RBI from time to time. Any grievances regarding disputed transactions can be raised by the customers through FORMAX website via formaxpay.com/customer grievance. All grievances will be addressed by FORMAX's Grievance officer depending on the nature of the complaint

Disclaimer of Warranties

The Merchant represents and warrants that:

It has had a full and adequate opportunity to read and review the Agreement and has had sufficient time to evaluate and investigate the provision of services under the Agreement and the financial requirements and risks associated with the same
Neither the execution of the Agreement nor the performance of the Merchant’s obligations under the Agreement will result in a violation or breach of any other agreement by which the Merchant is bound
Neither the Merchant nor any of the Merchant’s employees or agents is under any pre-existing obligation in conflict or in any way inconsistent with the provisions of the Agreement
It has the right to disclose or use all ideas, and other information, if any, which the Merchant has gained from third parties, and which the Merchant discloses to FORMAX in the course of performance of the Agreement, without liability to such third parties,
It shall immediately intimate FORMAX of any violation or potential violation of this Agreement, or of other circumstances that may cause damage to the goodwill and reputation of FORMAX,
It shall bear all costs and expenses for traveling, promotional activities and other similar out-of-pocket expenses incurred in the performance of its duties under the Agreement
It shall comply with all its obligations pursuant to the Agreement and ensure that all payments and collection due from it to FORMAX or vice versa are paid in a timely manner in accordance with the Agreement
It shall be responsible to obtain any and all consents and approvals that are required from regulatory or governmental authorities, including any consent from Customers required to transfer data to the FORMAX and/or the FORMAX Platform, as the case may be, in accordance with Applicable Law
It shall ensure regular and timely payment and deposit of all taxes, duties and other levies as applicable from time to time with the relevant authorities
All costs associated with the purchasing of software licenses and hardware (if any) are to be absolutely and unconditionally borne by the Merchant
It has full power and authority to enter into the Agreement and to take any action and execute any documents required by the terms hereof and this Agreement has been duly authorized, duly and validly executed and delivered, and constitutes a legal, valid, and binding obligation, enforceable in accordance with the terms hereof; and the persons executing the Agreement on its behalf are duly empowered and authorized to execute the Agreement and to perform all its obligations in accordance with the terms herein.
It acknowledges that FORMAX shall not be responsible for settling third-party disputes that arise out of the provision of services provided by the Merchant under this Agreement including disputes between the Merchant and its customers. FORMAX may, at its sole discretion, provide the Merchant access to audit trail documentation from FORMAX’s system and from the Service Provider’s system, if so, requested by the Merchant in order to settle any Transaction disputes or disputes between the Merchant and any of its customer’s. Such an audit trail shall be provided to the Merchant within 15 working days of a request, subject to the delivery by the concerned Service Provider to FORMAX of the required information in a timely manner. The audit trail information provided by the Service Provider, pursuant to all requests for information by the Merchant, shall be final and binding in determining the outcome of Transactions that are disputed between FORMAX, the Merchant, and the concerned Service Provider’s Customers
The Merchant shall comply with the provisions contained in the Information Technology Act, 2000 and the statutory rules framed there under, from time to time, in so far as the same has application to its operations in accordance with this Agreement, and also with all other Laws, rules and regulations, whether already in force or which may be enacted from time to time, pertaining to data security and management, data storage, sharing and data protection, and various rules, regulation and provisions as may be applicable, as and when the same is enacted into a law and comes into force, and shall ensure the same level of compliance by all its employees

Indemnification

The Merchant shall indemnify, defend, and hold FORMAX and entities associated with FORMAX including its directors, employees and agents harmless from and against any liabilities, claims or demands (including the costs, expenses, dispute resolution costs and attorneys’ fees on account thereof) relating to or which may result from any:

Breach by the Merchant of its obligations, including but not limited to those specified in these Terms and Conditions;
Any injuries to persons or damage to the Equipment, including theft, resulting from Merchant's acts or omissions;
Any claims brought against FORMAX arising in whole or in part out of claims brought against the Merchant involving, fraud, mishandling or misplacing Transaction Receipt during the term
Any claim or proceeding brought by the customer against FORMAX and/or entitles associated with FORMAX in respect of any products of the Merchant;
Claim or proceeding brought against FORMAX and/or entitles associated with FORMAX in respect of any services or operations of the Merchant;
Any act of negligence or default by the Merchant or the Merchant’s affiliates, agents, employees or licensees or the Merchant;
Any act or omission by the Merchant in respect of the sale of /payment for the products;
Any fines, penalties, interest on delayed payments imposed directly or indirectly on FORMAX and/or entities associated with FORMAX on account of the Merchant and/or the products.
Notwithstanding anything contained in these Terms and Conditions, in no event shall FORMAX and/or entities associated with FORMAX be directly or indirectly liable to the Merchant for any consequential, remote, direct, indirect, special, incidental or punitive loss, damages, compensation, costs, charges or expenses (including without limitation, loss of profits or revenues, loss of opportunity etc.) of any nature whatsoever by reason of termination of the arrangement between the Merchant and FORMAX.
The Merchant shall fully indemnify and keep indemnified FORMAX and/or entities associated with FORMAX from all damages, costs, legal fees, charges and expenses, and losses that FORMAX and/or entities associated with FORMAX may incur as a consequence of any failure whether temporary or permanent of the Support Services (as modified from time to time) provided by FORMAX Nodal Banks and or any other entity associated with FORMAX to the extent such failure results in any wrongful or incorrect payment to the Merchant. The Merchant shall also undertake to make good and reimburse FORMAX and/or entities associated with FORMAX and/or the customer for any failure of the Support Services, to the extent of such failure results in any wrongful or incorrect payment to the Merchant.
In the event of FORMAX being entitled to be indemnified pursuant to these Terms and Conditions, FORMAX shall be entitled to accordingly and to such extent debit the payments to be made to the Merchant irrespective of any dispute that the Merchant may have in respect of such debit and shall be also entitled to collect the said money in any manner whatsoever.

Limitation of Liability

FORMAX, including its officers, directors, shareholders, employees, sub-contractors, vendors, suppliers, business associates, parent companies, sister companies, subsidiaries and other affiliates will not be liable to the maximum extent permitted by the applicable law, for any direct, indirect, incidental, or consequential damage, or any other damage and loss (including loss of profit, loss of data and work stoppage), costs, expenses and payments, regardless of the alleged liability or form of action, whether in contract, tort or otherwise, including negligence, intellectual property infringement, product liability and strict liability, that may result from, or in connection with the use of terminal or the inability to access the terminal and provision of the services, or from any failure, error, or downtime in the function of the services, or from any fault or error made by FORMAX’s staff, or from your reliance on content delivered through the services, or from the nature of content delivered through the services, or from any communication with FORMAX or from any denial or cancellation of request for information through the services, or from retention, deletion, disclosure or any other use or loss of content through the services, regardless of whether FORMAX has been advised of the possibility of such damages. In any event, Merchant’s sole remedy will be limited to the corrections of such errors, as deemed fit by FORMAX in its sole discretion. without prejudice to the aforesaid, it is hereby acknowledged by Merchant that the aggregate liability of FORMAX, for any reasons whatsoever, will not exceed Rs. 100

Confidentiality

Each Party (the “Receiving Party”) undertakes to hold in strict confidence the terms of this Agreement and all other non-public information, technology, materials, customer data including Personal Information and Aadhaar Details of the Customers, business information, financial information, software and know-how of the other party (“Disclosing Party”) disclosed to or acquired by the Receiving Party pursuant to or in connection with this Agreement (“Confidential Information”). Neither Party will disclose the Confidential Information of the Disclosing Party to any third party other than the Receiving Party’s employees or legal consultants or Merchant or affiliates on a need-to-know basis who are bound by obligations of non-disclosure and limited use at least as strict as those contained herein. The Receiving Party will not use any Confidential Information for any purpose other than to carry out the activities contemplated under this Agreement. Each Party agrees to use commercially reasonable efforts and have measures in place to protect Confidential Information of the other Party, and in any event, to take precautions no less stringent as those taken to protect its own Confidential Information of a similar nature, which shall always be of at least a reasonable standard.
Each Party will also notify the other promptly in writing in the event such Party learns of any unauthorized use or disclosure of any Confidential Information that it has received from the other Party, and will cooperate in good faith to remedy such occurrence to the extent reasonably possible. Upon request of the other Party, each Party will return to the other all materials, in any medium, that contain or reveal all or any part of any Confidential Information of the other Party, or at the Disclosing Party’s option, destroy all copies of any Confidential Information and certify in writing such destruction to the requesting Party. The Parties agrees that any Confidential Information obtained in connection with this Agreement will be collected, used, stored, and maintained according to generally accepted data collection standards and in compliance with all Applicable Laws.
Exceptions. The restrictions set forth in this Clause will not apply to any information that: (a) was known by the Receiving Party without obligation of confidentiality prior to disclosure thereof by the Disclosing Party; (b) was in or entered the public domain through no fault of the Receiving Party; (c) is disclosed to the Receiving Party by a third party legally entitled to make such disclosure without violation of any obligation of confidentiality; (d) is required to be disclosed by Applicable Laws or regulations (but in such event, only to the extent required to be disclosed, and provided that the Disclosing Party is given a reasonable opportunity, where legally permissible, to seek a protective order in respect of such Confidential Information); (e) is independently developed by the Receiving Party without reference to any Confidential Information of the Disclosing Party; or (f) is authorized for disclosure to a third party at the direction of the Disclosing Party, provided that the foregoing exception shall only apply to the third party specified by the Disclosing Party for that particular disclosure
Any obligations regarding confidentiality shall subsist post the termination or expiry of this Agreement.

Miscellaneous

Assignment: Neither Party (including its Representatives) can assign or otherwise transfer, dispose or part with any of its rights or obligations hereunder to any person without the prior written consent of the other Party. FORMAX may provide such consent subject to the Merchant agreeing to such conditions as may be specified by FORMAX.
Force Majeure: Except as provided herein no Party shall be liable to the other for non-performance of its obligations under this Agreement if such failure is caused due to a Force Majeure Event. Force Majeure Event shall mean any event that is beyond the control of a Party and will include an Act of God, war, civil disturbance, prohibitions or enactments of any kind, import or export regulations, exchange control regulations, fire or accident, shipwrecks, major disruption of the Technology Platform, earthquakes, etc. In the case of Force Majeure Event, FORMAX may rescind or at its own discretion suspend performance for up to six months without incurring any liability for any loss or damages thereby occurred. The party affected by Force Majeure Event shall take all necessary steps to mitigate the same.
Amendment and Supersession: FORMAX can amend or alter all or any of the terms and conditions of this Agreement and such amended terms and conditions will be binding on Merchant as per intimation in respect thereto. This Agreement together with any instructions or directions or mandates in writing or by way of email or letter sent by FORMAX to Merchant from time to time, constitutes entire Agreement between FORMAX and Merchant and supersedes prior Service Agreement entered into between the Parties. Merchant agrees to be bound by such instructions, directions, or mandates issued by FORMAX from time to time.
Governing Law: This Agreement would be governed in accordance with the laws of India. The courts at Kolkata, West Bengal would have exclusive jurisdiction over any and all matters arising under this Agreement.
Severability: If any provision of this Agreement is held invalid or unenforceable by any court of final jurisdiction, it is the intent of the Parties that all other provisions of this Agreement shall be construed to remain fully valid, enforceable, and binding on the Parties.
Arbitation: In the event of any dispute that may arise between the Parties, the same shall be referred to Arbitration and a sole Arbitrator shall be appointed by FORMAX. The Proceedings of arbitration shall be in accordance with the Indian Arbitration and Conciliation Act, 1996 or any statutory modification thereof. The Venue of Arbitration shall be Kolkata and the arbitration proceedings shall be in English language. The Arbitration Award shall be final and binding on both the parties in the event of any dispute, Courts at Kolkata, West Bengal shall have exclusive jurisdiction under the Laws of India.
Notices: All notices, requests, demands, and other communications hereunder shall be in writing and the same shall be deemed to be served if given personally delivered or sent by registered mail details whereof are first mentioned above in the agreement.
Waiver: The failure of either Party to require the performance of any of the terms of this Agreement or the waiver by either Party of any breach of this Agreement, will neither prevent a subsequent enforcement of such terms nor be deemed a waiver of any subsequent breach.
Relationship Between the Parties: The relationship between FORMAX and Merchant shall be based on specific Service’s and governed by the arrangement/agreement between FORMAX and particular Service Provider for such Services, for example, for any Bank as Service Provider under Business Correspondent arrangement with FORMAX, the relationship between FORMAX and Merchant shall be that of principal and agent. For certain Services like Recharge Services and Ticket Booking Services, the relationship between FORMAX and Merchant shall be on principal-to-principal basis and the Parties shall be independent contractors. Nothing contained in this Agreement constitutes or is to be construed as constituting FORMAX and the Merchant as partner, employee or joint venture of the other, with respect to this Agreement. The Merchant shall not have any right, express or implied, or authority to assume or create any obligation on behalf of or in the name of FORMAX or to bind FORMAX to any contract, agreement or undertaking with any third party unless expressly so authorized by FORMAX.
Verification of Information: In order to provide the services per this agreement we have entered into arrangements with various Acquiring Banks, Nodal Bank, Financial Institutions, Card Associations and other software providers who are in the business of providing information technology services and we are obliged to share the information/ data collected during the currency of this agreement and this requirement is fully understood and acknowledged by the Merchant.
Non-Solicitation: At any time during the subsistence of this Agreement, Neither Party shall, without the prior written consent of the other Party, either on its own account, through its Representatives canvass or solicit for employment or engagement of, or employ or engage, or entice or make any offer to provide for taking any services to the Representative of the other Party.
Counterparts: The Agreement may be executed in any number of counterparts, each of which will be deemed an original, but all of which taken together shall constitute one single agreement between the Parties