Terms And Conditions
This Mobile Application is a property of and operated by Incredible Technologies Private Limited registered under the Companies Act, 2013, and having its registered office at 212/A, 2nd Floor, I Main Road, II Stage, Domlur Bangalore, Karnataka- 560071, India (“CredR”). By accessing or using any version of CredR Connect Application (collectively referred to as the “Application” hereinafter), you signify that you have read, understood and agree to be bound by these Terms and Conditions (“T&C”) and any other applicable law. As used herein, “Users” shall mean OEM dealers or showrooms who uses or accesses this Application on any computer, mobile phone, tablet, console or other device (collectively, "Device"). Your continued use of this Application shall be constituted as your acceptance to the T&C (“Terms and Condition and Privacy Policy of the Credr.com), as revised from time to time. If you do not agree with these T&C (and Privacy Policy), please do not access and use the Application. For the purposes of these T&C, “we”, “our” and “us” shall mean CredR, and/or third-party service providers engaged by CredR to render certain services on the Application and “you”, “your” and “OEM” shall mean a User who meets the eligibility criteria as set out below.
Eligibility Criteria for an OEM
An OEM should be a company incorporated under the provisions of the Companies Act, 1956/ 2013, or a limited liability partnership firm registered under the Limited Liability Partnership Act, 2008, or a
partnership firm registered under the provisions of the Partnership Act, 1932 or a proprietorship concern.
An OEM shall be engaged in the business of sale of new motorcycles and in order to facilitate purchase
by the customers, it accepts second-hand motorcycles as part consideration for the purchase of new
motorcycles;
You have agreed, subject to the T&C, to facilitate the sale of second-hand motorcycles by Individuals
exclusively to CredR on this Application of CredR and thereafter unequivocally and unconditionally
permit CredR to sell the said motorcycles to its customer(s) as per its conditions and discretion under the
Brand
SCOPE, EFFECTIVE DATE, TERM AND TAX:
- You, subject to the T&C, has agreed to facilitate the sale of Vehicle(s) by individuals to your
exclusive partner CredR for consideration as set out by CredR in each case.
- CredR has, subject to the T&C, agreed to purchase Vehicle(s) from individuals for certain
consideration (on case-to-case basis) as outlined on this Applications of CredR upon you
accurately uploading details on the Application.
- CredR shall: (a) facilitate the sale of second-hand motorcycles through this Application by
integration of technology or such systems deemed fit by CredR (“Application”); (b) train your
staff regarding the usage of this Application for assessment and evaluation of pre-owned
motorcycles in which this Application is and shall always remain the sole and exclusive
intellectual property of CredR; (c) in association with you, plan and execute co-branded exchange
events and other exchange related initiatives along with marketing activities, cost for which shall
be solely borne by you(d) support you in structuring co-marketing and co-marketing activities in
line with CredR’s branding guidelines; (e) have the right to reject the Vehicle including but not
limited to following conditions: (i) in case the actual condition of Vehicle is different from
conditions indicated by you on this Application after initial assessment and verification and/or (ii)
in case necessary documents for ownership transfer as specified in the table attached to this T&C
have not been collected from your customers or are not compliant as per guidelines defined by
CredR.
- You shall: (a) be responsible for adhering to the standard operating procedures mandated by
CredR from time to time (b) ensure usage of this Application for entering and accurately updating
the information of Vehicle(s) and for facilitating sale of pre-owned vehicles belonging to its
customers who are legal owners/nominees of such vehicles and for no other purpose whatsoever
and be responsible for co-marketing, co-branding and promoting the exchange program powered
by CredR on all its applications strictly in accordance with CredR guidelines; (c) provide support
by providing your staff to manage all the operational functions needed for the completion of the
transaction document collection; (d) ensure proper document collection required for ownership
transfer of Vehicle from the customer at the time of taking possession of the Vehicle; (e) ensure
safe custody of Vehicles exchanged till such time CredR logistics has taken possession of the said
Vehicles (the safe custody of Vehicle and all related liabilities shall be solely be upon you until
CredR logistics takes delivery of the said Vehicle from the you; (f) not share CredR’s Application
or demonstrate its working to any other party without express written permission from CredR; (g)
not hold CredR liable or responsible for misconduct, fraud, misappropriation or any act or
omissions by any service provider engaged with CredR who does not have an employer-
employee relationship with CredR; (h) ensure that your agents and employees, shall comply with
the T&C and you shall be fully responsible for the acts or defaults of any of you agents and
employees, as if they were your acts or defaults; (j) provide to CredR with a single point of
contact, on your behalf, for the coordination of operations and compliance of T&C; and (k)
strictly abide by the process for transfer of Vehicles as mandated by CredR (failure/non-
compliance of which may lead to termination of this T&C by CredR).
- All payments mentioned under this T&C are inclusive of Goods and Service Tax (GST) and / or
any other taxes in any nature whatsoever, if applicable. It is expressly agreed between the Parties
that each Parties shall bear its own tax obligation under the applicable law of India.
Process
The Parties here to agree to the following process:
- Lead capturing process: An enquiry passed by you to CredR shall be considered to be a
valid lead, if the entry is made in this Application provided for the purpose with full
details.
- Valuation process: You shall inspect the Vehicle(s) and update details of the Vehicle(s)
for which the lead is given to CredR through this Application (you shall, diligently and
accurately enter complete information about the Vehicle(s) on this Application).
Inspection of said Vehicle(s) shall be done by your designated staff on the parameters
defined in this Application.
- Exchange process: CredR shall, from time to time, inform the process to be followed for
the exchange and transaction and intimate and train your staff for the same.
- Documentation process: (a) You shall solely be responsible for collection of all required
document for ownership transfer of said Vehicle(s) as mentioned in table attached with
the T&C; (b) You shall ensure that the person signing the documents mentioned above is
the same person who is the legal owner of the Vehicle as per Registration Certificate of
the said Vehicle or a valid nominee who holds a nomination letter from the legal owner
and has the requisite capacity to sell the Vehicle; (c) ensure that signature on ID
proof/address proof matches those on ownership transfer documents. However, CredR
reserves the right to reject or change the terms of purchase of any Vehicles in the event
that there exists any discrepancy in the documents or the condition of the Vehicles post
evaluation for such Vehicles.
- Vehicle logistics from You: CredR personnel/designate will take delivery of the Vehicle
ensuring compliance with the pre-defined criteria (criteria defined by CredR) from your
showroom. The following shall be complied with: (a) Vehicle should be available at
exchange point /showroom; (b) documents set should be ready along with customer
signature on TTO set; (c) Vehicle should be in ‘as is’ condition reported on this
Application by you.
- Payment process: Upon receiving the physical possession of the exchanged Vehicle and
all relevant documents, CredR will process the payment to you within 30 (thirty) business
days in a manner deemed fit by CredR.
REPRESENTATIONS AND WARRANTIES MADE BY OEM:
You represents and warrants that: (a) you have the legal right and authority, and will maintain the
legal right and authority to perform its obligations under this T&C; (b) it is authorized and has
completed all required corporate actions necessary to be a part of this T&C; (c) Your
performance obligations under this T&C will not violate any applicable law of India and/or its
constitutive documents; (d) it has all necessary statutory and regulatory permissions, approvals
and permits required for operating its business under all applicable laws, including permissions,
approvals and permits from independent third parties, wherever necessary; (e) it shall adhere to
the strictest and highest industry standards in facilitating the sale of motorcycles pursuant to this
T&C; (f) it shall facilitate the sale and deliver motorcycles to CredR which do not have any
defects (obvious or latent); (g) it shall facilitate the sale of second-hand motorcycles mentioned
herein to its exclusive partner CredR; (h) it shall not create any charge, lien, interest, bailment,
transfer, pledge and/or any other encumbrance on the Vehicle(s) sold by Individuals to CredR; (i)
it shall not make any alterations to the motorcycles that may be detrimental, have an adverse
effect on or change the condition of the motorcycle (such as alter the exterior (such that it does
not match the registration/insurance certificate and connected documents) or interior) or alter,
modify or invalidate the warranty associated therewith; (j) all information provided is true,
accurate and correct; (k) you shall adhere, and ensure that your agents and employees adhere, to
the T&C.
INTELLECTUAL PROPERTY RIGHTS
Except for the rights expressly granted herein, this T&C does not transfer any Intellectual
Property Rights belonging to CredR in your favour, and all right, title, ownership and interest in
the Intellectual Property rights (whether registered or not) of CredR shall remain solely with
CredR. Except otherwise agreed herein, no Party shall use the brand name or trade-mark/logo of
the other Party for promotion and/or marketing purposes without express written
consent/permission of the other Party. For the purpose of this T&C the term ‘Intellectual
Property’ shall mean trade names, trademarks, service marks, logos, domain names, other
distinctive brand features, patents, copyrights, trademarks, designs, inventions, invention studies
(whether patentable or not), mask works, domain names and registrations, trade names, secret
formulae, secret processes, computer programs, confidential information, know-how and any
other intellectual property or proprietary rights, any and all enhancements or derivative works of
any of the foregoing and any and all applications for any of the foregoing, and any rights existing
under applicable copyright, trademark, patent or trade secret law. You at all times keep such
information confidential and shall not divulge, reproduce, transfer or distribute any information
received from CredR. Subject to section 1.3 above, it is hereby agreed that you that the data,
information collected, uploaded and stored in connection with this T&C (on this Application)
shall solely belong to and be the rightful property of CredR and you shall not have any right,
interest, title or ownership over it. You acknowledges that it shall be prohibited from using,
reproducing, transferring or transmitting such data/information in any form whatsoever (whether
anonymized or otherwise).
CONFIDENTIALITY
The Parties shall keep confidential all information of the other Party obtained under or in
connection with this T&C and shall not disclose the same to any third party without the prior
written consent of the disclosing Party. Confidential Information shall mean all information of the
disclosing Party obtained under or in connection with this T&C or which are by their nature
deemed confidential, whether marked as confidential or not, other than: (i) any information which
is already in the public domain otherwise than as a result of a breach of this T&C; or (ii) any
information which was rightfully in the possession of the receiving Party prior to the disclosure
by the disclosing Party and acquired from sources other than the other Party proved with
sufficient evidence; or (iii) any information obtained from a third party who is free to disclose
such information; or (iv) to the extent required by law or any regulatory requirement or by any
regulatory authority.
NON-SOLICITATION AND NON-COMPETE:
- Non-Compete: In the event you decides to terminate this association with CredR for any reason
whatsoever, You shall not, without the prior written consent of CredR, at any time during the
period of 2 (two) years from the date of such termination either individually or in partnership or
jointly or in conjunction with any person(s) (as defined under the General Clauses Act, 1897), or
syndication as principal, agent, shareholder or in any other manner whatsoever carry on, be
engaged in or be concerned with or interested in, or advise, lend money to, guarantee the debts or
obligations of or permit its name or any part thereof to be used or employed by any such
person(s) engaged in or concerned with or interested in any business competing with or similar to
the business of CredR.
- Non-Solicitation: You undertakes, assures and confirms that it shall not solicit any of the
director(s), or employee(s), or supplier(s), or vendor(s) of CredR, including those who have
directly or indirectly been involved in providing services to CredR, for employment or otherwise
with the CredR and/or any of its associates, affiliates, group companies or any other person(s),
during the validity of this T&C and up to 2 (two) years from the date of termination of association
with CredR
FORCE MAJEURE:
A Party shall not be liable to the other Party if, and to the extent, that the performance of any of
its obligations under this T&C is prevented, restricted, delayed or interfered with due to a
condition of force majeure (means any act of God including but not limited to fire, floods,
earthquake, storm, or other natural disaster, act of any government authority including but not
limited to war, invasion by a foreign country, civil war, rebellion, terrorist attacks, revolution,
military or usurped power, damage to property by or under the order of any martial government
authority or public or local authority or imposition of martial/government law, judgment, order or
decree, sanction, embargo or similar action, blockade or labour dispute/unrest, including but not
limited to strike, lockout or boycott and epidemics/outbreaks materially affecting health),
provided that the other Party is duly notified in writing of such an event. In the event that a force
majeure event continues for 30 (thirty) days from the date of aforesaid notice, this T&C shall
automatically stand terminated.
TERMINATION
- CredR shall have the right to immediately terminate this association in writing, in case of breach
of any T&C mentioned herein by you. A remedial notice of thirty (30) days shall be provided to
cure such default, in the event that the failure is not cured by you within the thirty (30) day
period specified above, CredR shall have the right to immediately terminate this association by
providing a written notice to you.
- CredR shall be entitled to terminate this association without any cause by issuing a 30 calendar
days prior written notice to you.
- You shall be entitled to terminate this association without any cause by issuing a 60 calendar
days prior written notice to you.
- The expiry or termination of this association shall not affect the accrued rights and obligations of
either Party.
MISCELLANEOUS:
- Survival: Notwithstanding the termination of your association with CredR for any reason
whatsoever, all covenants to be performed and/or observed by you under this T&C or which by
their nature shall survive the termination.
- Indemnity: You shall defend, hold harmless and indemnify and keep CredR and all its directors,
officers, employees and agents indemnified against all the costs, charges, expenses, losses,
liabilities, penalties, claims and damages directly or indirectly incurred or suffered by CredR,
arising on account of any act, commission or omission attributable to you and for breach of any
third-party rights by you.
- Entire understanding: This T&C sets forth the entire agreement and understanding between the
Parties as to the subject-matter of this Terms of Conditions and amalgamates all prior discussions
between them.
- Governing Law and Jurisdiction: This T&C shall be governed by, construed and enforced in
accordance with the laws of India. The courts in Bengaluru will have exclusive jurisdiction.
- Updates: CredR reserves the right to update the application, in order to, inter alia, increase
efficiency, optimize user interface, and add new facilities from time to time. Update packages
will be sent to you on your Device for download and installation. You hereby agree to install the
updates from time to time and acknowledge that CredR will only be able to provide Account
support for the application if you ensure to install all updates upon receiving notifications thereof
when using the application.
List of necessary documents for ownership transfer as required by CredR that should be collected
by OEM
Documents | Comments |
---|
Original RC | MANDATORY |
Form 28 (signed) IN Three Copies | MANDATORY |
Form 29 (signed) In Two Copies | MANDATORY |
Form 30 (signed) In Two Copies | MANDATORY |
Form 35 (signed) | MANDATORY |
Chassis Imprint on Paper | MANDATORY |
Signed Declaration cum delivery Note (Format
attached in Annexure -) | MANDATORY |
Bank NOC | MANDATORY, if
applicable |
Chassis Imprint on Paper or image copy | MANDATORY |
Bank/NBFC NOC | MANDATORY |
Original Purchase Invoice | MANDATORY |
RTO NOC | MANDATORY, if
applicable |
Original Insurance papers | MANDATORY, if
applicable |
All Keys | MANDATORY |
2 Photocopies of Proof of Identity of Vehicle
owner (signed) | MANDATORY |
2 Photocopies of Proof of Address of Vehicle
owner (signed) | MANDATORY |
Valid Nomination Letter | MANDATORY, if
applicable |
The above list of necessary documents can be subjected to change from time to time, at the sole discretion
of CredR.
STANDARD OPERATING PROCEDURE
Abbreviations for this Annexure are as follows: EE - Exchange Executive
The exchange procedure to be followed:
- Your EE shall interact with the Individual;
- Your EE shall check the Vehicle(s) thoroughly;
- EE shall enter the Vehicle(s) and its owner’s details on the Application;
- If the Individual agrees to sell the Vehicle and the Documents are complete, your EE shall mark the
Vehicle as an exchange;
- Once the Vehicle has been marked as an exchange, its details flow into CredR Pro for documents
verification (your EE will reach out to the city coordinator in case of any query/clarification);
- Documents team of CredR (“Documents Executive”) shall check for the validity of Document details
updated on CredR Pro as provided by the Individual and may give approval on the CredR Pro App
within 2 "business hours" of receiving the request on the CredR Pro App;
- In case of any discrepancy with Documents, the DE shall check with the OEM EE to rectify it.
For any queries contact: cs@credr.com