Introduction and Scope

These Terms of Service ("Terms") constitute a legally binding agreement between you and Baumen Loan (hereinafter "the Platform"), a financial service provided by BAUMEN SERVICES PRIVATE LIMITED ("Company," "we," or "us").

These Terms govern your access to the Platform and specifically regulate the establishment, maintenance, and use of your Revolving Line of Credit (LOC). This includes requests for credit limit increases, individual drawdowns (withdrawals), and repayment cycles offered through the Platform.

Acceptance of Terms

Please read these Terms of Service carefully before activating your credit line. By accessing the Platform, creating an account, or requesting a drawdown from your available limit, you:

Accept and agree to be bound by these Terms of Service.

Acknowledge our Privacy Policy, which is incorporated herein by reference.

Understand that this is a revolving credit facility, meaning as you repay your outstanding balance, your available credit is replenished up to your approved limit.

If you do not agree to these Terms or the revolving nature of this credit facility, you must not access the Platform or apply for a credit line.

Data Sharing and Privacy

In order to provide our services, we may share your personal data with the following third parties:

Credit Evaluation Agencies

We may share your financial information with partnered credit evaluation agencies to assess your creditworthiness.

Identity Verification Services

We may share your personal information with identity verification companies to confirm your identity.

Before sharing such data, we ensure that appropriate confidentiality agreements are in place with third-party service providers, ensuring they use your data solely for the purposes outlined in this agreement.

You can always contact our customer service team for more information and to exercise your data access rights.

SMS Data Collection Policy

SMS Permission Usage for Fraud Prevention and Identity Verification

We request access to your SMS messages to enhance the security of your account and prevent fraudulent activities. Specifically, we use SMS access for the following purposes:

Fraud Prevention: The app scans financial-related SMS messages to detect any suspicious transactions or potentially fraudulent activities in real-time, helping to secure your account.

Identity Verification: The system may use SMS data to cross-verify identity information during the loan approval process, ensuring that the individual requesting the loan is verified and that no fraudulent activities are involved.

Note: The SMS data is used only for fraud prevention and identity verification purposes. It is not used for any marketing, advertising, or other unrelated purposes. We take your privacy seriously and ensure that all data is processed securely and in compliance with relevant data protection laws.

Data Storage

We will securely store your SMS data, ensuring it is only used for identity verification and fraud prevention.

Data Protection

We will take appropriate technical measures to prevent SMS data from being leaked or accessed without authorization.

Data Destruction

Your SMS data will be stored as necessary for the verification process and securely destroyed after completion.

Cookies and Tracking Technologies

By using our platform, you agree to the use of cookies and other tracking technologies to enhance your experience. Cookies help us remember your preferences and provide personalized content. For detailed information on the cookies we use and how we use them, please refer to our Privacy Policy.

Account Access and Security - Baumen Loan

Ensuring Access to the Platform: You must make all necessary arrangements to ensure you can access the Baumen Loan platform, including obtaining the proper equipment and internet access.

Compliance of All Users: You are also responsible for ensuring that anyone who accesses the Platform through your internet connection is aware of and complies with these Terms of Service.

Providing Accurate Information: In order to access certain features or services on the Platform, you may be required to provide certain registration details or other necessary information. It is your responsibility to ensure that the information you provide is accurate, current, and complete. By registering or using the Platform, you agree that all information you submit will be governed by our Privacy Policy. You consent to our handling of your data in accordance with that policy.

Account Security: If you are provided with a username, password, or any other security information as part of our security protocols, you are required to keep that information confidential. You must not share your login credentials with anyone else, and you acknowledge that your account is personal to you. You agree not to give any other person access to the Platform using your username, password, or other security details.

Unauthorized Access: You agree to notify us immediately if you become aware of any unauthorized use of your username or password, or if you suspect that your account has been compromised. You must take immediate action to protect your account from any unauthorized access.

Logging Out: For your safety, you agree to log out of your account at the end of each session, especially when using public or shared computers. This will help protect your personal information from being accessed by others.

Right to Disable Access: We reserve the right to suspend or disable your username, password, or other security identifiers at our sole discretion, without prior notice, if we believe you have violated any of these Terms of Service.

By following these guidelines, you help ensure the security and integrity of your account and the Baumen Loan platform.

Access to the Platform and Account Security

Ensuring Access to the Platform:

You are responsible for making all necessary arrangements to ensure you can access the Baumen Loan platform, including obtaining the proper equipment and internet access.

Compliance of All Users:

You are also responsible for ensuring that anyone who accesses the Platform through your internet connection is aware of and complies with these Terms of Service.

Providing Accurate Information:

In order to access certain features or services on the Platform, you may be required to provide registration details or other necessary information. You agree to provide accurate, current, and complete information, and you consent to our handling of your data in accordance with our Privacy Policy.

Account Security:

If you are provided with a username, password, or any other security details as part of our security protocols, you agree to keep that information confidential and not share it with anyone else. Your account is personal to you, and you must notify us immediately if there is any unauthorized access or breach of security.

Disclaimer

All content provided through the Baumen Loan platform is for informational purposes only. The information provided is not intended as financial advice, and we strongly recommend that you seek independent advice before making any financial decisions. The services and information provided are "as is" and "as available," without any warranties or guarantees.

Limitation of Liability

To the fullest extent permitted by law, neither BAUMEN SERVICES PRIVATE LIMITED, its affiliates, employees, directors, nor contractors shall be liable for any damages, including direct, indirect, incidental, special, or consequential damages, arising from your use of the Baumen Loan platform or the services provided. This includes, but is not limited to, any errors or omissions in the content, delays, interruptions, or failure of the platform.

Third-Party Services

In order to provide our services, BAUMEN SERVICES PRIVATE LIMITED may utilize third-party providers for tasks such as credit assessments and identity verification. By agreeing to these Terms of Service, you consent to BAUMEN SERVICES PRIVATE LIMITED sharing your personal information with third-party services as necessary for assessing your creditworthiness and complying with legal requirements, including those under the Anti-Money Laundering and Counter-Terrorism Financing Act.

Copyright

The content of the Baumen Loan platform, including text, graphics, logos, and other materials, is the property of BAUMEN SERVICES PRIVATE LIMITED or its licensors and is protected by Indian and international copyright laws. You are not permitted to copy, reproduce, or distribute any of the content without the express written consent of BAUMEN SERVICES PRIVATE LIMITED.

Arbitration

We may require you to submit any disputes arising from these Terms of Service or your use of the Platform to binding arbitration under the Indian Arbitration and Conciliation Act.

Contact Information

For any queries related to these Terms or for support regarding the Baumen Loan platform, please reach us at:

Contact Email: hello@baumenservices.com

Registered Address: Flat No. 567, Pocket-C, Block-A, 3rd Floor, Lok Nayak Puram, Bakkarwala, POLE NO.-MQK, West Delhi, Delhi, India – 110041