Terms & Conditions

The following terms and conditions (“ePayLater Terms”) will apply to any transactions wherein you, (“Customer” or “you”) have opted for ePayLater or pay later (the “ePayLater Option”) facility for any transaction on the portal of the any merchant partner of Arthashastra Fintech Private Limited (“AFPL”) or on the portal of AFPL (collectively referred to as the “Portal”) after successfully completing the sign up process with one of AFPL’s Financial Institution Partners (“FI”).

  1. The total value of the products and services (collectively, “Products”) purchased by you on the Portal using this ePayLater Option and the applicable taxes will be the invoice amount (“Invoice Amount”) payable by you.
  2. The date on which the Merchant has confirmed the sale of the Products to you is deemed to be the date of transaction (“Transaction Date”).
  3. Your billing cycle will be from the 1st to the 15th of each month, and from the 16th till the end of each month (“Billing Cycle”). You will be provided with the consolidated total of all Invoice Amounts payable by you for all aggregate transactions during the Billing Cycle (“Total Bill Amount”).
  4. You will also be provided with a minimum amount payable which will be a percentage of your Total Bill Amount (“Minimum Bill Amount”).
  5. You are required to repay the Total Bill Amount at any time within five (5) calendar days from the end of the Billing Cycle in which the Transaction Date occurred (“Payment Date”).
  6. You are permitted to repay just the Minimum Bill Amount on the Payment Date, however interest shall be charged at the rate of 36% per annum on the balance amount.
  7. In case of cancellation, either partial or full, of the purchase of the Products you will be issued a revised invoice amount reflecting the revised amount payable and which amount shall remain due on the Payment Date.
  8. No interest shall be charged on the Total Bill Amount, provided the entire amount is repaid in full on or before the Payment Date.
  9. If you fail to repay the Minimum Bill Amount on or before the Payment Date, you shall be in DEFAULT and liable to pay a default interest at the rate of 36% per annum on the outstanding Total Bill Amount. There will be a fixed additional charge in the form of Late Payment Fees of Rs 100. The Total Bill Amount together with interest and such other costs, charges and taxes and any additional fees, as may be applicable, are collectively referred to as “Amount Dues”. The default interest shall be calculated pro rata on a daily basis (assuming a 365 day year) on the Total Bill Amount. You are also liable to reimburse all costs incurred in recovery of the Amount Dues from You, which shall form part of the Amount Dues.
  10. In the event, the Customer fails to repay the Minimum Bill Amount despite multiple reminders, AFPL reserves the right to suspend the account of the Customer and blacklist the Customer from accessing any of its services on the Portal.
  11. AFPL reserves the right to engage in collection services relating to the Amount Dues from you on behalf of the FI as per the ePayLater Terms. AFPL shall provide to the Customer the payment instructions through email and SMS subsequent to Customer accepting the ePayLater Terms and successfully concluding the transaction on the Portal. AFPL has been appointed as an agent by the FI.
  12. Notwithstanding the mode and manner of payment of the Amount Dues as notified to you in accordance with the clauses above, you shall continue to remain at all times liable and responsible for ensuring the payment of the Amount Dues and all other monies in respect thereof to the FI on or before the relevant Payment Date without any further notice/intimation/reminder being given by the FI and all such amounts payable by you to the FI shall be paid, at such place/s as the FI may specify, without any deductions whatsoever so as to enable the FI to fully realise the Amount Dues on or before the Payment Date.
  13. In the event of non-payment of the Amount Dues in full on or before the Payment Date, the FI shall be entitled, at the sole risk and cost of the Customer, to engage one or, more person(s) to collect the Amount Dues (or any part thereof) and the FI may (for such purposes) furnish to such person(s) such information, facts and figures (including your Personal Data) pertaining to you as it deems fit. The FI may also delegate to such person(s) the right and authority to perform and execute all acts, deeds, matters and things connected therewith, or incidental thereto, for the purposes of recovering the Amount Dues as it deems fit.
  14. The repayment of the Amount Dues shall not be affected, impaired or discharged by insolvency or death or otherwise of the Customer and the FI shall be entitled in such scenarios to recover the Amount Dues from the Customer’s properties and assets.
  15. You hereby provide your consent to the FI, and any third parties engaged from time to time by the FI for verifying the Customer’s credit history and /or recovery of the Amount Dues, to access your credit history and credit records from time to time as maintained by any credit information company.
  16. You hereby agree that in the event of delay in the repayment of the Amount Dues for a period of 30 days from the Payment Date (“Overdue Date”), the FI may disclose or publish your name as a defaulter in such manner as may be prescribed /permitted. The FI shall also have the right to share any information pertaining to you with CIBIL or any other credit information company if you have not made the payment of the Amount Dues on the Overdue Date.
  17. The entries made in the accounts / account books / records of the FI maintained in accordance with its usual practice and in compliance with the statutory requirements and/or any statement signed by a designated officer of the FI with respect to the Amount Dues, shall be final and binding on the Customer. Such entries and/or statements shall be conclusive evidence of the existence and amount of outstanding obligations of the Customer as therein recorded in respect of the Amount Dues.
  18. All notices or other communications under or in connection with the Amount Dues if to the Customer shall be in English language and sent via email to the email address (and messages and calls to the telephone and mobile numbers) provided by the Customer on the Portal while purchasing the Products from, or registering on, the Portal. All notices or communications under or in connection with the Amount Dues, if to the FI, shall be given in writing and, unless otherwise stated may be made by email, letter or facsimile to the address / email id  notified by the FI from time to time. Any such notice or other communication will be deemed to be effective: (i) if sent by letter, when delivered personally or if dispatched by post, when recall of the letter is outside the control of the sender; and (ii) if sent by facsimile, when sent (on receipt of a confirmation to the correct facsimile number). Provided, however, that no notice or communication to the FI shall be effective unless actually received and acknowledged by the FI.
  19. You shall not be entitled to assign or transfer all or any of your rights, benefits or obligations under the ePayLater Terms without the prior written approval of the FI.
  20. Any provision of these ePayLater Terms, which is prohibited or unenforceable in any jurisdiction, shall, as to such jurisdiction, be ineffective to the extent of the prohibition or unenforceability but that shall not invalidate the remaining provisions of the ePayLater Terms or affect such provision in any other jurisdiction.
  21. No delay in exercising or omission to exercise any right, power or remedy accruing to the FI upon any default or otherwise under these ePayLater Terms shall impair any such right, power or remedy or shall be construed to be a waiver thereof or any acquiescence in such default, nor shall the action or inaction of the FI in respect of any default or any acquiescence by it in any default, affect or impair any right, power or remedy of the FI in respect of any other default.
  22. These ePayLater Terms are to be read in conjunction with, and not in derogation of, the Merchant’s other terms & conditions relating to for the sale of Products on the Portal as displayed on the Portal (collectively the “Sale Terms”) including but not limited to the terms of cancellation, refund, fulfillment of Products, non-availability of stock etc. and nothing contained herein shall prejudice or affect the Sale Terms. You understand and acknowledge that the Sale Terms shall mutatis mutandis apply to the ePayLater Option. In the event of any conflict between the Sale Terms and these ePayLater Terms, these ePayLater Terms shall take precedence in relation to the payment of the Amount Dues and the terms and conditions governing the Amount Dues. Any refund payable for the Products purchased shall be subject to the rights of the Merchant as provided in the Sale Terms.
  23. You agree and acknowledge that the FI will be in possession of any data provided by you (including name, email-id, address, contact details etc.) to avail the ePayLater Option (“Personal Data”). You further provide consent to the FI / AFPL for sharing such personal Data with third parties for certain purposes such as statistical analysis, sharing with credit information companies, developing and improving the credit service products offered by the FI/AFPL; to audit, verify and update its records of the Customer; to assess lending risks; to identify, prevent, detect or tackle fraud, money laundering and other crime; to carry out regulatory checks; to inform the Customer about the details of the credit services availed by them; and for general market research and marketing campaigns.
  24. The Personal Data will be kept confidential and only be used for the purposes provided in these ePayLater Terms. You further understand and agree that Personal Data may be transferred for storage, processing and use by the FI/AFPL, its affiliates, and/or their service providers in accordance with applicable law.
  25. Any refund(s) issued by a merchant shall be credited towards your ePayLater balance and will reflect in your statement.
  26. Only Customers who are competent to contract are eligible to enter into / accept these ePayLater Terms and avail of the credit. In the event, the Customer provides incorrect information about himself/herself, the FI/AFPL reserves the right to cancel this ePayLater Option to such Customer.
  27. All disputes, if any, arising out of or in connection with or as a result of this ePayLater Option or otherwise relating hereto shall be subject to the exclusive jurisdiction of the competent Courts/Tribunals in Mumbai only.
  28. Notwithstanding anything mentioned in the ePayLater Terms, the FI or AFPL has the right to notify the Customer to repay the Amount Dues on demand within a period of 24 hours.
  29. By using the Portal and checking the “I have read, understood and accepted the Terms and Conditions” checkbox on the Portal, the Customer agrees, undertakes and confirm:
    • that all of the information (including Personal Data) entered / filled in by the Customer on the Portal for purchasing the Products and/or availing the ePayLater Option from the FI/AFPL is true and correct in all respects.
    • that he has read and agreed to the Sale Terms and the ePayLater Terms and that these ePayLater Terms are to be read in conjunction with the said Sale Terms.
    • to provide such proof of identity and/or address to the FI/AFPL as may be requested by the FI/AFPL from time to time.
    • not to authorize others to use his/her account, or disclose his/her account details to any third party;
    • not to assign or otherwise transfer his/her account to any third person or legal entity or permit any third person or legal entity to use his/her account.
    • that You have provided your consent to receive transaction related information from the FI or Arthashastra Fintech Private Limited via telephone or SMS;

The ePayLater Terms are an electronic record in the form of an electronic contract formed under the Information Technology Act, 2000 and Rules made thereunder and the amended provisions pertaining to electronic documents/records in various statutes as amended by the Information Technology Act, 2000. These ePayLater Terms do not require any physical, electronic or digital signature. You acknowledge and agree that you shall be deemed to have read, understood and accepted these ePayLater Terms upon your checking the “I have read, understood and accepted the Terms and Conditions” checkbox at the time of placing the order.