1. DEFINITIONS AND INTERPRETATION
1.1 Capitalized terms used in this Agreement, unless the context otherwise requires, shall have the following meanings:
a. "Applicable Law(s)" shall mean all applicable central, state and local laws, statute, regulations, orders or directives as may be amended and in effect or re-enacted from time to time, order or other legislative action of any government authority to the extent having the force of law, including but not limited to Payment and Settlement Systems Act, 2007, Payment and Settlement Systems Regulations, 2008, Policy Guidelines on Issuance and operation of Prepaid Payment Instruments in India, guidelines on issuance of debit cards and co-branded prepaid cards by the banks and any other guidelines in relation to prepaid payment instruments issued from time to time by Reserve Bank of India and in each case, any implementing regulation or interpretation issued there under including any successor law.
b. "Merchant(s)" shall mean seller(s), retailers or e-commerce marketplace, including but not limited to brick and mortar or electronic merchants or such other business entities who accept the Karbon Cards as payment options for collecting payments from the Customer.
c. "ATM" shall mean any Automated Teller Machine in India, whether of Card Issuer Bank or of a specified Network Association, at which, amongst others, the Cardholder Entity / Cardholder can use his Karbon Cards (in case the same is a card) with permitted access.
d. "Card Issuer Bank" shall mean issuer banks of Karbon Cards;
e. "Card Distribution Partner" shall mean Interropac Private Limited, a company incorporated under the laws of India with CIN: U74999HR2018PTC076299xxx and having its registered office at 336, Second Floor, Udyog Vihar, Phase IV, Gurgoan, Haryana who are the co-branding, marketing and distribution partners of Karbon Cards only;
f. "Cardholder Entity" shall mean the legal entity to whom the card is issued to;
g. "Cardholder" shall mean the individual to whom a card is associated to by the Cardholder Entity;
h. "Merchant Establishment" means commercial establishments of any nature, wherever located, which honour the Karbon Cards for transactions done using them.
i. "Network Association" shall mean MasterCard / Visa / RuPay Card networks, or any other networks like NFS or any other bank's private network called by any name.
j. "Personal Identification Number" "PIN" shall mean a set of confidential number/s given to the Cardholder Entity / Cardholder by the Card Issuer Bank / Card Distribution Partner, while issuing the Karbon Cards (in case the same is a card) or later selected by the Cardholder Entity / Cardholder from time to time, which is used to authenticate the Cardholder Entity / Cardholder at an ATM or a terminal for putting through Transactions using the Karbon Cards (in case the same is a card) or which may be used as a second factor authentication in case the Karbon Cards is a wallet.
k. "PoS" shall mean a point of sale electronic terminal at Merchant Establishments in India capable of processing transactions and at which, amongst others, the Cardholder can use his Karbon Cards (where the same is a card) to access his funds using his Karbon Cards / to make purchases.
l. "Karbon Card" or "Card" shall mean the instruments issued by Card Issuer Bank, whether or not co-branded with the Card Distribution Partner.
m. "Karbon Cards Services" or "Cards Services" shall mean the services relating to the offering of the Karbon Cards as per the relevant guidelines of RBI.
n. "Agreement" shall mean these terms and conditions as set out in this Agreement.
o. "Transaction" shall mean an online or an offline purchase of goods and services from Merchants or payments for purchase of goods and services or for any other specified purpose to a Merchant or to any other customer, or transfer of funds to any bank account, by the use of Karbon Cards or through any other modes as determined by the Card Issuer Bank from time to time and shall also include load / reload of the Karbon Cards.
2. ELIGIBITY AND REGISTRATION INCLUDING KYC PROCEDURE
2.1 The Card is being issued by Card Issuer Bank. The Card Issuer Bank shall be responsible for the issuance of the Card and the Card Distribution Partner shall be responsible for the distribution, marketing and facilitating the services offered through the Card.
2.2 The Card Services are available only to natural / legal persons, who are resident Indians and competent to form a legal and binding contract as per the Indian Contract Act, 1872. By accepting these ‘terms and conditions’ as set out in this Agreement or by otherwise using the Card Services or accessing the Card Distribution Partner’s website, the Cardholder Entity / Cardholder represent that Cardholder is authorized by the Cardholder Entity, is an Indian resident and competent to form a binding agreement as per the Applicable Laws and have not been previously suspended / debarred from the use of such similar Card Services. Cardholder Entity / Cardholder represent and warrant that Cardholder Entity / Cardholder have the right, authority and capacity to enter into ‘terms and conditions’ as set out in this Agreement and to abide by all of the terms and conditions contained herein. Cardholder Entity / Cardholder represent and warrant that all information provided by it / them for the Card and the Card Services is true, correct and up to date and they shall not impersonate any person or entity, or falsely state or otherwise misrepresent identity, age or affiliation with any person or entity.
2.3 Cardholder Entity / Cardholder shall be liable for all misrepresentations and / or wrongful usage of service in violation of the ‘terms and conditions’ as set out in this Agreement and / or the Applicable Laws.
2.4 The Card Distribution Partner as well the Card Issuer Bank reserve the right to deny, suspend and terminate Card Services to Cardholder Entity / Cardholder, with or without prior notice in any form, if it suspects, has reason to believe or upon request or instruction from a competent authority, on account of violation of any applicable laws.
2.5 In order to register, create and use a Card, Card Distribution Partner /Card Issuer Bank may require that Cardholder Entity / Cardholder submit certain personal information, including but not limited to your name, address, mobile phone number, e-mail address, date of birth, preferred language of communication, etc. to Card Issuer Bank and Card Issuer. Cardholder Entity / Cardholder agree that the personal information Cardholder Entity / Cardholder provide to Card Distribution Partner / Card Issuer Bank upon registration and at all other times will be true, accurate, correct and complete. Cardholder Entity / Cardholder agree to maintain and update this personal information to keep the personal information true, accurate and complete.
2.6 Cardholder Entity / Cardholder hereby authorize Card Distribution Partner and Card Issuer Bank, directly or through third parties, to make any inquiries that Card Distribution Partner / Card Issuer Bank may consider necessary to validate Cardholder Entity / Cardholder identity and / or authenticate Cardholder Entity / Cardholder identity. This may include asking Cardholder Entity / Cardholder for further information and / or documentation about Cardholder Entity / Cardholder account usage or identity, or requiring Cardholder Entity / Cardholder to confirm identification by furnishing KYC (know your customer) documentation, ownership of Cardholder Entity / Cardholder email address, telephone number or financial instruments, among others. This process is for internal verification purposes. Cardholder Entity / Cardholder agree and acknowledge that the Card Distribution Partner shall assist the Card Issuer Bank with the KYC process. The collection, verification, audit and maintenance of correct and updated customer information is a continuous process and Card Issuer Bank and the Card Distribution Partner reserve the right, at any time, to take steps necessary to ensure compliance with all relevant and applicable KYC requirements.
2.7 Before the issuance of the Card, the Card Issuer Bank and Card Distribution Partner shall undertake a KYC process:a. The Card Issuer Bank and Card Distribution Partner shall follow the Know Your Customer (KYC) / Anti-Money Laundering (AML) / Combating Financing of Terrorism (CFT) procedures, as is applicable to banks under the RBI guidelines under Applicable Laws.b. Card Issuer Bank / Card Issuer reserves the right to discontinue Karbon Cards / Karbon Cards Services / reject applications for Karbon Cards Services at any time if there are discrepancies in information and / or documentation provided by Cardholder Entity / Cardholder or if the information / documentation provided by Cardholder Entity / Cardholder is found to be incorrect or wrong. In addition, in such an event, Card Issuer Bank reserves the right to forfeit the balance therein subject to Applicable Law.
3. PURCHASE AND LOADING OF KARBON CARDS
3.1 Cardholder Entity / Cardholder may be issued Karbon Cards in electronic, physical or digital forms after presenting an officially valid document and after completion of satisfactory KYC process. Karbon Card shall be issued subject to payment of applicable fee. Card Issuer Bank / the Card Distribution Partner may ask for additional documents or information during purchase of a Karbon Cards, if required by Applicable Laws. Any information provided during purchase of a Karbon Cards must be true and the Cardholder Entity / Cardholder shall be liable for all accidental or intentional false representations.
3.2 Once Cardholder Entity / Cardholder have purchased any Karbon Cards, the same may be cancelled and the money loaded on the Karbon Cards may be refunded, as provided in this Agreement and as may be determined by the Card Issuer Bank in its sole discretion. Such funds shall be loaded on the Karbon Cards after deduction of the applicable charges / fees etc. payable by Cardholder Entity / Cardholder to Card Issuer Bank for availing the said Karbon Cards. In order to manage risk, Card Issuer Bank may limit the funding sources available for Cardholder Entity / Cardholder use to fund any particular Transaction.
3.3 The Card Distribution Partner and Card Issuer Bank will monitor each deposit made into Cardholder Entity / Cardholder Karbon Cards to monitor high-risk & fraudulent transactions. If Cardholder Entity / Cardholder deposit is classified as a high-risk transaction or is suspected of fraud, Card Distribution Partner / Card Issuer Bank will place a hold on the deposit and may ask Cardholder Entity / Cardholder for more information on Cardholder Entity / Cardholder personal data and Cardholder Entity / Cardholder funding source.
3.4 When Cardholder Entity / Cardholder make a deposit into the Karbon Cards, Cardholder Entity / Cardholder are liable to Card Distribution Partner / Card Issuer Bank for the full amount of the deposit plus any fees if the deposit is later invalidated for any reason. This means that in addition to any other liability, Cardholder Entity / Cardholder will be responsible for the amount of the deposit, plus applicable fees if Cardholder Entity / Cardholder lose a claim or a chargeback, or if there is a reversal of the deposit.
3.5 Cardholder Entity and Cardholder agree to allow Card Issuer Bank / Card Distribution Partner to recover any amounts due to Card Issuer Bank by debiting Cardholder Entity / Cardholder Karbon Cards balance. If there are insufficient funds in Cardholder Entity / Cardholder account to cover Cardholder Entity / Cardholder liability, Cardholder Entity and Cardholder agree to reimburse the Card Issuer Bank / Card Distribution Partner through other means. If Card Issuer Bank is unable to recover the funds from Cardholder Entity / Cardholder primary funding source, Card Issuer Bank may itself or through the Card Distribution Partner attempt to contact Cardholder Entity / Cardholder and / or recover the funds from Cardholder Entity / Cardholder alternate funding sources, or may take other legal actions to collect the amount due, to the extent allowed by Applicable Law. In addition, Card Issuer Bank / the Card Distribution Partner may suspend or terminate the Karbon Cards.
3.6 If a Cardholder Entity / Cardholder exercises the option of saving payment instruments or accounts like debit cards, credit cards, etc., in the Karbon Cards, such Cardholder Entity / Cardholder authorises the Card Issuer Bank / the Card Distribution Partner to debit those accounts to reload the Karbon Cards upon instructions. Cardholder Entity / Cardholder may revoke this authorisation for an instrument by deleting reference to that instrument in his Karbon Cards. Cardholder Entity / Cardholder agrees and acknowledges that Card Issuer Bank shall have no responsibility or liability in respect of such saved details and such details shall be stored, at the sole cost and responsibility of the Cardholder Entity / Cardholder.
4. APPLICABLE LIMITS
Karbon Cards shall be subject to certain limits as regards balance to be maintained in the Karbon Cards, cash withdrawals to be made therefrom, maximum reloads of the Karbon Cards, maximum amount of transfers to be made therefrom, etc., which applicable limits shall be specified by the Card Issuer Bank and displayed on Card Distribution Partner’s website and shall be intimated to the Cardholder / Cardholder Entity by Card Distribution Partner. The Cardholder / Cardholder Entity shall be liable to ensure compliance with all Applicable Limits as may be specified by Card Distribution Partner in terms of the Applicable Laws.
5. USAGE GUIDELINES
5.1 The issue and use of the Karbon Cards shall be subject to the rules and regulations issued by Card Issuer Bank / Card Distribution Partner from time to time, as set out at the Card Distribution Partner’s website.
5.2 Card Issuer Bank / Card Distribution Partner has the absolute discretion to withdraw the Karbon Cards and / or the Karbon Cards Services thereby provided or amend or supplement any of the above terms and conditions at any time without prior notice to Cardholder Entity / Cardholder.
5.3 Cardholder Entity / Cardholder shall use the Karbon Cards only in India to purchase goods and services. The Karbon Cards can be used for withdrawal (if applicable) of cash at any VISA / MASTER / Rupay ATM.
5.4 The Karbon Cards may be used through the third-party Merchant Partners authorised by Card Distribution Partner and Card Issuer Bank.
5.5 Information concerning the Karbon Cards, including the available balance and / or Karbon Cards history can be viewed online at www.karboncard.com after due log-in with the User Id and Password.
5.6 Cardholder Entity / Cardholder shall at all times ensure that the Karbon Cards credentials are kept safe and shall under no circumstances whatsoever allow the Karbon Cards to be used by any other individual. Cardholder Entity / Cardholder shall be responsible for all facilities granted by Card Issuer Bank and for all related charges and shall act in good faith in relation to all dealings with the Karbon Cards and Card Issuer Bank and Card Distribution Partner.
5.7 Cardholder Entity / Cardholder are responsible for the security of the Karbon Cards and shall take all steps towards ensuring the safekeeping thereof. Cardholder Entity / Cardholder shall not disclose Cardholder Entity / Cardholder password to anyone verbally or in writing nor record it elsewhere.
5.8 Cardholder Entity / Cardholder will be liable for all charges incurred on the Karbon Cards until the Karbon Cards is reported for closure. Card Issuer Bank and Card Distribution Partner shall not be liable for any hacking or unauthorized use of the Karbon Cards and it shall be Cardholder Entity / Cardholder sole responsibility to ensure privacy and confidentiality of Karbon Cards details. Cardholder Entity / Cardholder shall, within 48 hours, intimate to Card Distribution Partner and/or Card Issuer Bank of the occurrence of any fraud.
5.9 In case of any dispute relating to the time of reporting and / or transaction/s made on the Karbon Cards or any other matter in relation to the said Karbon Cards, Card Issuer Bank shall reserve the right to ascertain the time and / or the authenticity of the disputed Transaction.
5.10 Cardholder Entity / Cardholder shall inform Card Distribution Partner in writing within 10 days, if any irregularities or discrepancies exist in the Transactions / particulars of the Karbon Cards or any records that are made available to Cardholder Entity / Cardholder. If Card Distribution Partner or does not receive any information to the contrary within 10 days, it shall assume that the Transactions are correct. All records maintained by Card Issuer Bank or Card Distribution Partner, in electronic or documentary form of the instructions from Cardholder Entity / Cardholder and such other details (including but not limited to payments made or received) pursuant to the terms and conditions herein, shall as against Cardholder Entity / Cardholder, be deemed to be conclusive evidence of such instructions and such other details.
5.11 Cardholder Entity / Cardholder may use the Karbon Cards Services for Transactions with the approved Merchants only. Cardholder Entity / Cardholder are also aware that the Card Issuer Bank / Card Distribution Partner shall not be held liable in any manner whatsoever for the goods provided and the services rendered by the Merchants etc.
5.12 Cardholder Entity / Cardholder must ensure the availability of sufficient funds before executing any Transaction from the Karbon Cards.
5.13 Cardholder Entity / Cardholder shall intimate Card Distribution Partner about change in any information, including but not limited to change in mobile number, email id, etc. within 2 (two) days along with such proof of change.
5.14 Cardholder Entity / Cardholder agree to adhere to all Applicable Laws and all such regulations, guidelines and rules prescribed from time to time by Card Issuer Bank, Card Distribution Partner, RBI and any other regulatory body.
5.15 Cardholder Entity / Cardholder shall be bound to comply with the terms and conditions and all the policies stipulated by Card Issuer Bank/ Card Distribution Partner from time to time in relation to the Karbon Cards. Card Issuer Bank / Card Distribution Partner may, at its sole discretion, refuse to accept the application or to issue Karbon Cards to Cardholder Entity / Cardholder.
5.16 Cardholder Entity / Cardholder shall not use the Karbon Cards Services for any purpose that might be construed as contrary or repugnant to any Applicable Laws, regulations, guidelines, judicial dicta, Card Distribution Partner policies, Card Issuer Bank policies or public policy or for any purpose that might negatively prejudice the goodwill of the Card Issuer Bank and Card Distribution Partner.
5.17 Cardholder Entity / Cardholder shall accept full responsibility for wrongful use of the Karbon Cards which is in contravention of this Agreement. Cardholder Entity / Cardholder shall indemnify Card Issuer Bank and/or Card Distribution Partner to make good any loss, damage, interest or any other financial charges that Card Issuer Bank and/or Card Distribution Partner may incur and or suffer whether directly or indirectly as a result of Cardholder Entity / Cardholder usage of Karbon Cards and Cardholder Entity / Cardholder violating any of this Agreement.
5.18 Card Issuer Bank reserves the absolute discretion and liberty to decline or honor the authorization request on the Karbon Cards without assigning any reason thereto.
5.19 Cardholder Entity / Cardholder acknowledge and understand that the Karbon Cards Services are linked to internet connection (in case of internet/mobile accounts and wallets) and Card Issuer Bank shall not be responsible for any loss or interruption of the Karbon Cards Services.
5.20 Cardholder Entity / Cardholder acknowledge and understand that the information submitted by Cardholder Entity / Cardholder for availing the Karbon Cards Services or information submitted while using the Karbon Cards Services may be shared with third parties inter alia, to facilitate the provision of the Karbon Cards Services.
5.21 Card Issuer Bank through Card Distribution Partner may request Cardholder Entity / Cardholder to submit additional KYC information/documents as part of ongoing monitoring and due diligence.
5.22 Card Issuer Bank and Card Distribution Partner may at their sole discretion, utilize the services of external service providers or agents and on such terms as required or necessary, in relation to its products/services.
5.23 The Karbon Cards and Karbon Cards Services are not transferable or assignable by Cardholder Entity / Cardholder under any circumstances.
5.24 In case the Karbon Cards is a card whether a smart card/magnetic stripe card and whether or not a physical card or otherwise, the following terms shall apply in relation to the Karbon Cards, as may be applicable.
5.25 To protect any un-authorised use of the card, it is advised that Cardholder Entity / Cardholder shall keep the card under Cardholder Entity / Cardholder personal custody at all the times, and shall under no circumstances whatsoever allow the card to be used by any other individual. The cardholder should sign on the reverse of the card in the signature panel immediately upon receipt of the card from Card Issuer Bank.
5.26 Karbon Cards are treated like cash, and Card Issuer Bank shall not be liable for the misuse, loss or theft of cards. Card Issuer Bank will not reissue new card for any reason, including the loss, theft or expiration of such Card.
5.27 The card is the property of Card Issuer Bank and must be returned to an authorized person of Card Issuer Bank / Card Distribution Partner on request or surrendered to Card Issuer Bank /Card Distribution Partner in the event of the Cardholder Entity / Cardholder no longer requiring the services.
5.28 The new card issuance will be at discretion of Card Issuer Bank / Card Distribution Partner. The Cardholder Entity / Cardholder will be liable for payment of all charges incurred on the Karbon Card until the card is hot listed /cancelled. If the Card or its PIN is lost, stolen or misused Cardholder Entity / Cardholder shall immediately contact Cardholder Entity / Cardholder Service Centre on the telephone numbers listed on the backside of the Karbon Card. Card Issuer Bank / Card Distribution Partner upon adequate verification of information, will temporarily suspend the Card. The Cardholder along with the Cardholder Entity is solely liable for any Transaction or loss incurred due to the loss of the Card, up to the time of temporarily suspension by Card Issuer Bank / Card Distribution Partner. The Card shall be blocked within 24 hours of reporting and risk of protecting Cardholder Entity / Cardholder money starts from the time Cardholder Entity / Cardholder reporting the incident.
5.29 Cardholder may utilize the balance in the Karbon Card by due and proper use of the Card, in accordance with this Agreement. No interest is payable to the Cardholder Entity / Cardholder. The Cardholder Entity / Cardholder is advised to transact only upto the requisite amount loaded on the card for purchase /availing services including applicable charges, otherwise the Transaction may not be honoured.
6. UNAUTHORISED OR ILLEGAL USE AND RELATED AUTHORIZATIONS
6.1 Cardholder Entity / Cardholder declare that Cardholder Entity / Cardholder shall use the Karbon Cards/Karbon Cards Services only for lawful purposes in a lawful manner as may be permitted by Card Issuer Bank and Card Distribution Partner and for no other purposes whatsoever. Cardholder Entity / Cardholder agree that Cardholder Entity / Cardholder will not use the Karbon Cards/Karbon Cards Services for payment of any illegal/unlawful purchases/purposes.
6.2 Cardholder Entity / Cardholder agree and acknowledge that Card Issuer Bank/ Card Distribution Partner may, at any time decide not to process any Transactions, and block the Karbon Cards if Card Issuer Bank/Card Distribution Partner believes that the same is in violation of Applicable Law or which may expose Cardholder Entity / Cardholder, Card Distribution Partner / Card Issuer Bank, the Merchants, or other users to Harm or damage. Harm includes but is not limited to financial loss, compromise of privacy of personal information. Cardholder Entity / Cardholder agree and undertake that Cardholder Entity / Cardholder shall under no circumstance, share Cardholder Entity / Cardholder access credentials or permit others to use Cardholder Entity / Cardholder identity in the use of Karbon Cards Services or attempt to use the Karbon Cards from any other device. If a Customer is found to be violating this Agreement, Card Issuer Bank reserves its rights to prevent the relevant Customer from using the Karbon Cards/ Karbon Cards Services any further. Cardholder Entity / Cardholder also agrees that Cardholder Entity / Cardholder shall be solely responsible for any consequences resulting from any unauthorized use of the Karbon Cards Services/Karbon Cards.
6.3 Cardholder Entity / Cardholder may not use contact information provided by Card Issuer Bank or other users or harvest such information for the purpose of sending, or to facilitate the sending, of unsolicited bulk communications such as spam. Cardholder Entity / Cardholder may not allow others to use Cardholder Entity / Cardholder Karbon Cards to violate the terms of this section. For provision of certain services, the Karbon Cards may have additional terms (such as policies, guidelines, and rules) that will further govern Cardholder Entity / Cardholder use of that particular service and supplement this Agreement. If Cardholder Entity / Cardholder choose to register for or access any such services, Cardholder Entity / Cardholder will be presented with any relevant additional terms and conditions at that time. By using those services, Cardholder Entity / Cardholder agree to comply with such additional guidelines and rules.
7. WITHDRAWAL & TRANSFERS
7.1 No cash withdrawal is permitted on Karbon Cards without providing full KYC information to the satisfaction of the Card Issuer Bank. Where permitted, Card Issuer Bank reserves the right to enable or disable various withdrawal modes like ATMs, cash withdrawal at Card Issuer Bank, at its discretion, may offer card to card, wallet to wallet, person to person, person to merchant, person to bank transfers and any other transfers as and when permitted by RBI/ any other regulatory authorities, from the Karbon Cards. Such transfers are governed by Domestic Money Transfer (“DMT”) guidelines issued by Reserve Bank of India. Card Issuer Bank reserves rights to set different limits for such transactions from time to time, such that those limits are at least as restrictive as the limits specified under DMT guidelines.
7.2 Card Issuer Bank may use interbank transfer mechanisms like IMPS and NEFT. Given the inherent complexity of such mechanisms, Card Issuer Bank can neither guarantee any time taken to credit the destination bank account nor can it assure success of the transfer. Card Issuer Bank shall debit the transferring user’s account immediately upon initiation of transfer and shall credit these funds back if Card Issuer Bank is certain that the funds haven’t been received by the destination account and shall never be received.
7.3 The Cardholder / Cardholder Entity transferring the funds is solely liable for providing accurate information of the recipient of the funds. Card Issuer Bank shall not be responsible for any errors in the account identifiers or other codes specified to identify the transferee’s account. Cardholder Entity / Cardholder shall acknowledge that Card Issuer Bank has no information to verify the intended recipient of the transfer and shall be indemnified by the transferor of any legal or financial liability arising out of such transfer, whatsoever.
7.4 Card Issuer Bank/Card Distribution Partner reserves the right to delay withdrawals while screening for risk, or request Cardholder Entity / Cardholder to provide additional information to verify Cardholder Entity / Cardholder identity and may limit the amount Cardholder Entity / Cardholder can withdraw until the information is verified.
7.5 Any withdrawal found to be suspicious will be held back and reversed into the Karbon Cards. The Karbon Cards will also be suspended for operations and no Transactions will be possible pending an investigation. A notification will be given to Cardholder Entity / Cardholder at the discretion of Card Issuer Bank/Card Distribution Partner, if Cardholder Entity / Cardholder are the subject of an investigation. If Cardholder Entity / Cardholder are able to provide a justification for the withdrawal to the satisfaction of Card Issuer Bank, Cardholder Entity / Cardholder Karbon Cards will be removed from suspension and Cardholder Entity / Cardholder would be free to transact using Cardholder Entity / Cardholder Karbon Cards.
7.6 In the case of no information being provided by Cardholder Entity / Cardholder for a suspended Karbon Cards – the Karbon Cards will continue to be suspended till its validity and the amount will be forfeited as required by Card Issuer Bank.
8. CANCELLATION, SUSPENSION, REFUNDS & CHARGEBACKS
Cardholder Entity / Cardholder shall be liable to Card Issuer Bank for the full amount of the purchase or reload value of a Karbon Cards plus any fees, if the purchase or reload is later invalidated for any reason, including but not limited to chargeback, reversal of Transaction, dispute by the owner of funding source of a Transaction. Cardholder Entity agrees to allow Card Issuer Bank to recover any amounts due to it by debiting the Karbon Cards of the Cardholders. If there are insufficient funds in Cardholder Entity / Cardholder's Karbon Cards to cover the liability, then the Cardholder Entity agrees to reimburse Card Issuer Bank through other means. In addition, cancellation, suspension, refund and chargeback shall be subject to the CSRC Policy of the Card Issuer Bank, as set out on the website and updated from time to time.
9. TERMINATION AND VALIDITY OF KARBON CARD
9.1 The Karbon Cards issued to Cardholder Entity / Cardholder is valid for a period of 1 Year. The Karbon Cards will expire on the last working day of the month and the year indicated on the Karbon Cards or as may be intimated to Cardholder Entity / Cardholder by Card Issuer Bank / Card Distribution Partner. The Cardholder Entity shall be intimated 45 days prior to the expiry date to utilise the balance amount in the Karbon Cards by an SMS and / or E-mail. However, to the extent permitted under Applicable Laws, Card Issuer Bank / Card Distribution Partner may at its sole discretion, close or wind up any Karbon Cards Services or amend any of its features with notice to its Cardholder Entity, even prior to the expiry of the Karbon Cards.
9.2 If the Cardholder Entity wishes to close the Karbon Cards at any time, then the Cardholder Entity shall request Card Issuer Bank / Card Distribution Partner for such closure and Card Issuer Bank may close the Karbon Cards in such manner and upon such terms as Card Issuer Bank may decide in its sole discretion. Termination will be effective, subject to payment of all amounts outstanding on the Karbon Cards. No fees charged, if any, to Cardholder Entity / Cardholder shall be refunded in the event of termination, suspension or discontinuance of the Karbon Cards/Karbon Cards Services. No annual, joining or renewal fees shall be refunded on a pro-rata basis.
9.3 Card Issuer Bank shall, upon adequate verification, block / suspend / close the Karbon Cards and terminate all facilities in relation thereto during working hours on a working day following the receipt of such intimation and shall not be liable for any inconvenience caused to Cardholder Entity / Cardholder in this regard.
9.4 Card Issuer Bank shall be entitled to terminate the Karbon Cards / Karbon Cards Services with immediate effect even prior to its expiry by efflux of time, upon the occurrence of any of the following events: (i) the Cardholder Entity / Cardholder intimating the loss of the Karbon Cards; (ii) any breach of this Agreement; (iii) upon a specific request from the Cardholder Entity / Cardholder to cancel or suspend the Karbon Cards; (iv) Card Issuer Bank/ Card Distribution Partner is unable or otherwise prevented from processing payments in relation to the Karbon Cards for reasons beyond its reasonable control, including but not limited to restrictions imposed by law or regulation; (v) demise of the Cardholder ; (vi) reported lunacy / insanity / unsound mind of the Cardholder; (vii) if Card Issuer Bank deems that the Karbon Cards Services are being misused / improperly used in any manner ; and (viii) if any adverse report is received from any of Card Issuer Bank’s branches in the network or from any regulatory or monitoring authority; (ix) bankruptcy or insolvency of the Cardholder Entity.
9.5 In addition, Card Issuer Bank or Card Distribution Partner may, at any time, with or without notice, at its absolute discretion, terminate the Karbon Cards Services. Card Issuer Bank or Card Distribution Partner may also restrict or suspend the use of Karbon Cards Services at any time without prior notice, if Card Issuer Bank reasonably believes it necessary for business or security reasons.
9.6 As regards validity of the Karbon Cards, if there is not even one Customer induced Transaction for 03 months using the Karbon Cards, then the Karbon Cards will be termed as "Inactive". For “Inactive” status Karbon Cards, Cardholder Entity / Cardholder will have to complete KYC verification again as per Card Issuer Bank's policy for activation of the Karbon Cards. Card Issuer Bank may specify such terms and conditions as it may deem fit in its sole discretion for activation of such Inactive, Dormant and/or Unclaimed Karbon Cards.
10. FEES AND CHARGES
All fees and charges related to Karbon Cards including all fees and charges due to Card Distribution Partner / Card Issuer Bank (including applicable charges set out in the fee table provided by Card Distribution Partner to the Cardholder Entity, or due to third parties), as determined by Card Distribution Partner will be recovered by a debit to the Karbon Cards or through other means as available and applicable. The fee and charges shall be updated through by the Card Issuer Bank as per its F&C Policy as set out on Card Distribution Partner’s and Card Issuer Bank's website and this Agreement.
11. USER’S OBLIGATIONS AND COVENANTS
11.1 Cardholder Entity / Cardholder shall be solely liable for entering into any Transaction and the risk arising thereof.
11.2 Cardholder Entity / Cardholder accept that at Cardholder Entity / Cardholder request and risk, Card Issuer Bank has agreed to provide Cardholder Entity / Cardholder the Karbon Cards/Karbon Cards Services and Cardholder Entity / Cardholder accept full responsibility for all Transactions recorded by use of Cardholder Entity / Cardholder Karbon Cards.
11.3 All authorizations and power conferred by Cardholder Entity / Cardholder on Card Issuer Bank /Card Distribution Partner are irrevocable.
11.4 Any instruction given by means of the Karbon Cards shall be irrevocable.
11.5 Cardholder Entity / Cardholder shall, in all circumstances, accept full responsibility for the use of the Karbon Cards, whether or not processed with Cardholder Entity / Cardholder knowledge or Cardholder Entity / Cardholder authority, expressed or implied.
11.6 Cardholder Entity / Cardholder irrevocably authorize Card Issuer Bank to debit the amounts utilized by using the Karbon Cards for Transactions from Cardholder Entity / Cardholder Karbon Cards.
11.7 Card Issuer Bank will employ its best efforts in carrying out the Transactions but will not incur any liability either to Cardholder Entity / Cardholder or any other person for any reason whatsoever including for its delay or inability to carry out a Transaction or an instruction.
11.8 Amounts due and payable by Cardholder Entity / Cardholder, if not paid separately shall be recovered by Card Issuer Bank from the funds available in the Karbon Cards to the extent permitted under Applicable Laws.
11.9 Card Issuer Bank shall have discretion not to allow Cardholder Entity / Cardholder to carry out a Transaction where it has reason to believe that the use of Karbon Cards is not authorized or the Transaction appears ambiguous or unclear or such as to raise a doubt.
11.10 The Cardholder Entity shall ensure that it shall not use any Karbon Cards/Karbon Cards Services to commit, aid, support or conceal any fraudulent, criminal, illegal, prohibited or objectionable activity whatsoever.
11.11 The Cardholder Entity / Cardholder shall bring to the notice of Card Issuer Bank, any violations of this Agreement or any suspicious activity as and when the Cardholder Entity / Cardholder becomes aware of it.
11.12 The Cardholder Entity / Cardholder acknowledges the risks associated with electronic financial transactions and shall use all such services offered by Card Issuer Bank at the Cardholder Entity’s own risk.
11.13 The Cardholder Entity shall accept Card Issuer Bank's record of the Transactions as conclusive and binding for all purposes. The liability of Card Issuer Bank / Card Distribution Partner is restricted to the extent of the amount lying in the Karbon Cards only till the Karbon Cards has not been cancelled, expired, terminated.
12. DISCLAIMER AND LIMITATION OF LIABILITY
12.1 Card Issuer Bank relies on several third-party services in delivering its services. Card Issuer Bank shall not be held liable for any delays, failures, lack of accurate status or fulfilment of Transactions or making available information about past transactions that are dependent on third parties.
12.2 The Card Distribution Partner may, at its sole discretion, make several promotional offers such as issuance of vouchers, announcing discounts,etc. Cardholder Entity / Cardholder expressly agree and acknowledge that Card Issuer Bank shall not be responsible or liable in any manner in respect of any such promotional or other offers made by Card Distribution Partner. Card Issuer Bank disclaims all liability arising out of any such offer issued by Card Distribution Partner and availed by the Cardholder Entity / Cardholder.
12.3 Card Issuer Bank makes reasonable efforts to affect all payment instructions but assumes no responsibility and shall incur no liability if it is unable to affect any payment instruction(s) for any reason whatsoever.
12.4 Card Issuer Bank makes reasonable efforts to keep its machines, services available. Several factors outside the control of Card Issuer Bank may disrupt availability and quality of services. Card Issuer Bank shall make reasonable efforts to keep Cardholder Entity / Cardholders informed about the service quality and availability issues through one or more electronic or digital channels.
12.5 Card Issuer Bank updates its services regularly to provide better experience and/or more capabilities to Cardholder Entity / Cardholders. In the process, Card Issuer Bank may introduce faulty behavior, lose information related to past transactions, discontinue or break previously available services. Card Issuer Bank disclaims any and all warranties including, but not limited to any warranties concerning the availability, accuracy, usefulness, correctness or completeness of information, and any warranties of title, warranty of non-infringement, freedom from computer virus, warranties of merchantability or fitness for a particular purpose, other than those warranties which are incapable of exclusion, restriction or modification under Applicable Laws.
12.6 Card Issuer Bank employs reasonable technology and systems to guard access to the Cardholder Entity / Cardholder’s accounts and information. However, the Cardholder Entity / Cardholder acknowledges that the Cardholder Entity / Cardholder is solely responsible for protecting account information and that Card Issuer Bank is providing authentication, authorisation and access control services for the Cardholder Entity / Cardholder’s information on a best effort basis and that the Cardholder Entity / Cardholder cannot hold Card Issuer Bank or any of its associates or affiliates responsible for any compromise, loss, theft or damage to such information, irrespective of the cause. Card Issuer Bank may deny access to the Cardholder Entity / Cardholder’s accounts maintained with it, if it suspects or has reasonable doubt to suspect or if so instructed by competent regulatory or legal authority or upon its sole assessment of risk, abuse and non-compliant activities associated with such account.
12.7 Card Issuer Bank shall be entitled to rely upon any third-party systems, tools or mechanisms to safeguard its own systems against any fraud. Such third-party systems may rely upon the Cardholder Entity / Cardholder ‘s data and information for detection and mitigation of fraud.
12.8 The Cardholder Entity / Cardholder acknowledges that the Cardholder Entity / Cardholder or third-party content presented is obtained from sources believed by Card Issuer Bank to be reliable. Card Issuer Bank does not provide any guarantee with respect to such content and Card Issuer Bank shall not be held liable for any loss suffered by Cardholder Entity / Cardholders based on their reliance on or use of such data, whether any such data is published on the website of Card Issuer Bank or in its communications to the Cardholder Entity / Cardholder.
12.9 Without prejudice to the foregoing, Card Issuer Bank shall be under no liability whatsoever to Cardholder Entity / Cardholder in respect of any loss or damage arising directly or indirectly out of:a. any issue emerging post availing of the goods and services from the Merchant;b. the refusal to honor or to accept the Karbon Cards;c. the malfunction of any computer/PoS terminal;d. effecting transaction instructions given other than by a Customer;e. handing over of the Karbon Cards credentials by Cardholder Entity / Cardholder;f. the exercise by Card Issuer Bank of its right to demand and procure the surrender of the Karbon Cards prior to the expiry, whether such demand and surrender is made and/ or procured by Card Issuer Bank or by any person or computer terminal;g. the exercise by Card Issuer Bank of its right to terminate any Karbon Cards;h. any injury to the credit, character and reputation of Cardholder Entity / Cardholder alleged to have been caused by the repossession of the Karbon Cards and/ or, any request for its return or the refusal of any Merchant Establishment to honor or accept the Karbon Cards;i. any misstatement, misrepresentation, error or omission in any details disclosed by Card Issuer Bank or Card Distribution Partner as otherwise required by Applicable Law.
12.10 If Card Issuer Bank or Card Distribution Partner receives any process, summons, order of injunction, execution, distraint, freezing, levy, lien, information or notice which Card Issuer Bank or Card Distribution Partner in good faith believes/ calls into question Cardholder Entity / Cardholder's ability, or the ability of someone purporting to be authorized by Cardholder Entity / Cardholder, to transact on the Karbon Cards, Card Issuer Bank may, at its option and without liability to Cardholder Entity / Cardholder or such other person, decline to allow Cardholder Entity / Cardholder to obtain any portion of his funds, or may pay such funds over to an appropriate authority and take any other steps required by Applicable Law. Card Issuer Bank reserves the right to deduct from the balance available on the Karbon Cards, a service charge and any expenses it incurs, including without limitation legal fees, due to legal action involving Cardholder Entity / Cardholder's Karbon Cards.
12.11 The Karbon Cards Services are provided on an "as is" and "as available" basis. Use of the Karbon Cards Services is at Cardholder Entity / Cardholder own risk. To the maximum extent permitted by Applicable Law, the Karbon Cards Services are provided without warranties of any kind, whether express or implied, including, but not limited to, implied warranties of merchantability, fitness for a particular purpose, or noninfringement. No advice or information, whether oral or written, obtained by Cardholder Entity / Cardholder from Card Issuer Bank or Card Distribution Partner or through the Karbon Cards Services will create any warranty not expressly stated herein. Without limiting the foregoing, neither RBL nor Card Distribution Partner warrant that the content is accurate, reliable or correct; that the Karbon Cards Services will meet Cardholder Entity / Cardholder requirements; that the Karbon Cards Services will be available at any particular time or location, uninterrupted or secure; that any defects or errors will be corrected; or that the Karbon Cards Services will be free of viruses or other harmful components. Neither Card Issuer Bank nor Card Distribution Partner will be liable for any loss or damage whatsoever or howsoever caused or arising, directly or indirectly, including without limitation, as a result of loss of data; interruption or stoppage of access to and/or use of the Karbon Cards Services; interruption or stoppage of the websites of Card Issuer Bank or Card Distribution Partner, non-availability of connectivity links / hyperlinks.
12.12 Any content downloaded or otherwise obtained through the use of the Karbon Cards Services is downloaded at Cardholder Entity / Cardholder own risk, and Cardholder Entity / Cardholder will be solely responsible for any damage to Cardholder Entity / Cardholder property or loss of data that results from such download.
12.13 Cardholder Entity / Cardholder acknowledges that Card Issuer Bank shall not be responsible nor shall they be liable to indemnify Cardholder Entity / Cardholder in the event of any loss or damage suffered by Cardholder Entity / Cardholder due to any cause or reason beyond the control of Card Issuer Bank including, but not limited to, misplacement of the Karbon Cards or PIN (in case the Karbon Cards is a card), mechanical or technical failure and down time, connectivity down time etc. Without prejudice to the foregoing, Card Issuer Bank shall be under no liability what so ever to Cardholder Entity / Cardholder in respect of any loss or damage arising directly or indirectly due to use of the Karbon Cards / Karbon Cards Services.
12.14 Neither RBL nor Card Distribution Partner, endorse, guarantee, or assume responsibility for products advertised or offered by a third party through the Karbon Cards Services or any hyperlinked website or Karbon Cards Service, or featured in any banner or other advertising, and neither Card Issuer Bank nor Card Distribution Partner will be a party to or in any way monitor any transaction between Cardholder Entity / Cardholder and third-party providers of goods and/ or services.
13. INDEMNITY
13.1 In consideration of Card Issuer Bank / Card Distribution Partner providing Cardholder Entity / Cardholder with the facility of the Karbon Cards, Cardholder Entity / Cardholder hereby agrees to indemnify and keep Card Issuer Bank / Card Distribution Partner indemnified from and against all actions, claims, demands, proceedings, losses, damages, personal injury, costs, charges and expenses whatsoever which Card Issuer Bank / Card Distribution Partner may at any time incur, sustain, suffer or be put to, as a consequence of or by reason of or arising out of, directly or indirectly providing Cardholder Entity / Cardholder, the said facility of the Karbon Cards or by reason of Card Issuer Bank's / Card Distribution Partner’s acting in good faith and taking or refusing to take or omitting to take action on Cardholder Entity / Cardholder's instructions, and in particular arising directly or indirectly out of the negligence, mistake or misconduct of Cardholder Entity / Cardholder; breach or noncompliance of the rules/ terms and conditions relating to the Karbon Cards or fraud or dishonesty relating to any Transaction by Cardholder Entity / Cardholder.
13.2 Cardholder Entity / Cardholder agrees to indemnify Card Issuer Bank/Card Distribution Partner for any machine/ mechanical error/ failure or any technical down time which is not in the control of Card Issuer Bank. Cardholder Entity / Cardholder shall also indemnify Card Issuer Bank fully against any loss on account of misplacement by the courier, or loss-in transit of the Karbon Cards and/or PIN mailer (in case the Karbon Cards is a card).
13.3 While Card Issuer Bank / Card Distribution Partner makes reasonable effort to employ state of the art security measures appropriate for offering its services, it does not assure or guarantee that no person or entity will overcome or subvert the security measures and gain unauthorized access to its services or any accounts maintained with it. The Card Issuer Bank / Card Distribution Partner shall not be liable if any unauthorized person hacks into or gains access to the services or to any Cardholder Entity / Cardholder's Karbon Cards. Cardholder Entity / Cardholder shall indemnify Card Issuer Bank of any liability arising out of such hacks or exploited vulnerabilities.
13.4 Card Issuer Bank / Card Distribution Partner may use multiple mechanisms that rely on the Cardholder Entity / Cardholder’s information including but not limited to personal, contacts, financial, transactional and biometric data in establishing or re-establishing identity and/or authentication of the Cardholder Entity / Cardholder. Cardholder Entity / Cardholder acknowledges that no information either singularly or in combination with other information is sufficient to establish true identity and that Card Issuer Bank’s efforts are on best efforts basis. The Cardholder Entity / Cardholder shall indemnify and keep indemnified Card Issuer Bank / Card Distribution Partner of any consequences whatsoever arising out of mistaken identity and / or compromised access irrespective of the reason for such a compromise or vulnerability.
14. DISCLOSURE OF INFORMATION AND INTELLECTUAL PROPERTY RIGHTS
Except for information that Cardholder Entity / Cardholder submit, all of the information available on or through the Karbon Cards / Karbon Cards Services and/or Card Issuer Bank’s website, including without limitation, text, photographs, graphics and video and audio content, is owned by Card Distribution Partner and its licensors and is protected by copyright, trademark, patent and trade secret laws, other proprietary rights and international treaties.
15. GENERAL PROVISIONS
15.1 The Cardholder Entity / Cardholder cannot assign or otherwise transfer any rights, liabilities and/or obligations hereunder, to any third party and any such assignment or transfer or purported assignment or transfer shall be void ab initio. Card Issuer Bank’s rights and/or obligations hereunder are freely assignable or otherwise transferable by it to any third parties without the requirement of seeking the Cardholder Entity / Cardholder’s prior consent. Card Issuer Bank may inform the Cardholder Entity / Cardholder of such assignment or transfer in accordance with the notice requirements on best effort basis.
15.2 Any failure or delay by Card Issuer Bank to enforce or exercise any provision hereof, or any related right, shall not constitute a waiver by Card Issuer Bank of that provision or right. The exercise of one or more of Card Issuer Bank’s/Card Distribution Partner rights hereunder shall not be a waiver of, or preclude the exercise of, any other rights or remedies available to Card Issuer Bank hereunder or in law or at equity. Any waiver by Card Issuer Bank shall only be made in writing and executed by a duly authorized officer of Card Issuer Bank.
15.3 If performance of any service or obligation hereunder by Card Issuer Bank/Card Distribution Partner is prevented, restricted, delayed or interfered with by reason of power outage, labor disputes, strikes, acts of God, floods, lightning, severe weather, shortages of materials, 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 Card Issuer Bank/Card Distribution Partner or its third parties performing such services as sub-contractor to Card Issuer Bank and could not have been prevented by reasonable precautions (each, a "Force Majeure Event"), then Card Issuer Bank / Card Distribution Partner shall be excused from such performance to the extent of and during the period of such Force Majeure Event. Card Issuer Bank/Card Distribution Partner shall exercise all reasonable commercial efforts to continue to perform its obligations hereunder.
15.4 Notwithstanding the foregoing, such of the Terms and Conditions as are meant to survive termination / expiry hereof, will survive indefinitely unless and until Card Issuer Bank /Card Distribution Partner chooses to terminate them.
16. GOVERNING LAW AND DISPUTE RESOLUTION
These Terms and Conditions will be governed by and be construed in accordance with the laws of India. All disputes arising out of the same which remain unresolved, shall be subject to the exclusive jurisdiction of the Courts in India, irrespective of whether any other court may have concurrent jurisdiction in the matter. Cardholder Entity / Cardholder shall be liable for all costs associated with resolution of the dispute, legal expenses and decretal amounts with interest, should it become necessary to refer the matter to any agent.
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