Terms of Service
Terms Of Service
May 03, 2023
PLEASE READ THE FOLLOWING TERMS OF SERVICE (THE “TERMS”) CAREFULLY BEFORE USING THE PLATFORM (AS DEFINED BELOW) NAMELY MYFOLIO CREATED, AND DEVELOPED BY GRAVITY HOUR TECHNOLOGIES PRIVATE LIMITED[“COMPANY”]. THESE TERMS FORM A LEGALLY BINDING AGREEMENT BETWEEN YOU [“CUSTOMER”] AND THE COMPANY.
BY REQUESTING AN AUTHORISED USER ACCOUNT CREATION, ACCESSING, BROWSING, AND/OR OTHERWISE USING THE PLATFORM, THE CUSTOMER ACKNOWLEDGES THAT THE CUSTOMER HAS READ, UNDERSTOOD, AND AGREES TO BE BOUND BY THESE TERMS.
By accessing and using thePlatform, You agree to comply with these Termsalong with Platform Privacy Policy ("Privacy Policy”). You may not access and use the Platform if You do not agree to the version of the Terms. The terms “We” and “Us” refer to GRAVITY HOUR TECHNOLOGIES PRIVATE LIMITED, registered in India. Company and Customer are individually referred to as “party” and collectively as “parties.”
NOW IT IS HEREBY AGREED BY AND BETWEEN PARTIES AS UNDER –
- DEFINITIONS
- “Application” shall mean and include the proprietary application of the Company named MyFoliothat acts as a leading application used for storing information of the Customers including the financial information described in the Purchase Plan.
- “Company” shallmean Gravity Hour Technologies Private Limited.
- “Customer” or “You” or “Your” shall mean the users of the Platform, including, but not limited to, individuals, companies, agents, or other similar persons, who use the Platform and avail the Services offered by the Company, through the Platform.
- “Customer Data” shall mean all data created by or in any way originating with Customer including the user’s details or personal information or the reports/ results of using the Platform, whether such data or output is stored on Customer’s hardware, Company’s hardware, or exists in any system owned, maintained, or otherwise controlled by Customer or by Company.
- “Documentation” shall mean any accompanying documents, content, data provided by the Company to the Customer along with the Software.
- “Enhancements” shall mean any modification, update, upgrade or addition to the Platform that, when made or added to the solution or modules currently being used by Customer, provides minor functionality enhancements but does not change overall utility, functional capability, or application.
- “Platform” shall mean and refer to as the proprietary website of the Company, hosted under the domain name (https://www.myfolio.ai/ (hereinafter referred to as “Website”)) along with the Application.
- “Purchase Plan” means an order plan as uploaded on the website which includes a description of duration of Services, fees, etc. and such Purchase Plan shall be incorporated by reference, and subject to the terms of these Terms.
- “Services” shall mean services provided to the Customers by the Company through the Platform including managing and storing Customer’s financial information, sharing financial information with nominee.
- “Trial Period” have the meaning given to it under Clause 5.
- “User information” shall mean all information stored by the user on Platform pursuant to Clause 7 (User Content).
- “User Account” shall be the account which the Customer shall be required to create on the Platform to avail the Services offered by the Company.
- REGISTRATION
To avail the Services provided through the Platform, You need to complete the registration process on the signup page on the Platform. For such registration, You shall be required to provide Your email address and phone number. The Company shall, thereafter, initiate a two-step authentication process, to validate Your identity by way of providing You a one-time password (“
OTP”), which You would be required to input, at the time of sign up. Upon completion of this process, Your User Account would be created. Through this User Account, You will be eligible for availing the Services and receiving further alerts and instructions related to the Services made available through the Platform.
- Restrictions
Customer shall not, directly or indirectly:
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- copy, modify, adapt, translate, reverse engineer, decompile, disassemble, alter, reproduce or otherwise make any changes to the Platform;
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- use the Platform in any manner to provide time-sharing, benchmarking or other computer services to third parties, except as expressly provided herein, or allow any third party to access or benefit from the functionality of the Platform;
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- use the Platform, or allow the transfer, transmission, export, or re-export of the Platform or portion thereof in violation of any applicable export control laws or regulations;
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- use the Platform for any purpose other than the as specified under these Terms;
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- use the Platformin violation of the Purchase Plan;
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- use the Platform to develop any competing or similar product;
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- use any of the Platform’s components, add-ons, files, modules, externals, contents including associated license material separately from the Platform.
- ACCOUNT AND PASSWORD:
- By registering for a User Account through the Platform, You represent and warrant that You are of the age of majority in the jurisdiction in which You reside or, are registering through Your parents or guardians, who are of the age of the majority in the jurisdiction, in which You reside (“Representative”). You and Your Representatives agree to:
- provide accurate, authenticated and true information about yourself;
- maintain the security of Your passwords and identification;
- promptly update the email address and mobile number listed in connection with Your User Account to keep it accurate so that We may contact You; and
- be fully responsible for all actions carried out through Your User Account.
- You must not set up a User Account on behalf of another individual or entity unless You are a Representative, legally authorized to do so.
- Registration with the Platform does not make You a member, shareholder or affiliate of the Company for any purposes whatsoever, nor shall You have any of the rights of statutory members of the Company.
- Unauthorized Use; False Information: You shall: (i) notify us immediately of any unauthorized use of Your User Account or any other known or suspected breach of security, (ii) use reasonable efforts to stop any unauthorized use of the Platform or Your User Account, that is known to You or suspected, and (iii) not provide false identity or information to gain access to or use the Platform.
- Customer shall be responsible for maintaining the confidentiality of the User Account and password and it shall be responsible for all activities that occur under any User Account. Company reserves the right to refuse registration or cancel User Accounts which the Company deems inappropriate.
- TRIAL PERIOD
The Customer shall be entitled to Ninety (90) days trial period (“
Trial Period”) to use the Services without any fees set forth in clause 6 hereunder. The said Trial Period shall commence from the date on which the Customer registers on the Platform.
- FEES
- After the expiry of the Trial Period, the Customer shall pay to Platform, without offset or deduction, the amounts set forth within the specified days as outlined in the Customer Proposal.
- All fees payable under these Terms shall be paid by the Customer in advance at the end of Trial Period and as per the rates stated in the Purchase Plan.
- Unless otherwise stated in these Terms, the fees are non-refundable and that the Customer waives his/ her right with regard to the same.
- USER CONTENT
- Customer is entitled to store information relating to bank accounts, loan information, financial investments of the Customer, physical and tangible assets owned by the Customer, insurance, personal IOUs, contact details in possession the Customer, documents in electronic formats, details of debit and/or credit cards owned by the Customer (hereinafter “User Information”).
- Customer agrees that the Customer shall solely be responsible for User Information and in no way shall Platform be liable with respect to any dispute which may arise out of such User Information and further warrants that the said User Information is accurate and pertains to assets or liabilities, whether movable or immovable, whether tangible or tangible owned by the Customer.
- WARRANTIES; EXCLUSION OF LIABILITIES
- Customer hereby represents and warrants that it has all rights necessary to permit Platform to perform its obligations and exercise its rights with respect to the Customer Data as contemplated by these Terms, including all necessary permissions and consents to collect, use and disclose the Customer Data, as contemplated by these Terms. The foregoing expressly includes any applicable obligations under GDPR or similar regulations, it being understood that, with respect to the Customer Data, Customer is the Data Controller (or equivalent) and Platform is the Data Processor (or equivalent). Customer further covenants that it shall be solely responsible for the Customer Data and the consequences of their use, and that Platform shall have no liability with respect to any Customer Data.
- The Customer represents and warrants that it shall at all times comply with these Terms and its performance hereunder does not conflict with any other obligation or violate any agreement.
- General Disclaimer. THE COMPANY AND/OR ITS PARTNERS, RESPECTIVE LICENSORS MAKE NO REPRESENTATIONS ABOUT THE SUITABILITY, RELIABILITY, AVAILABILITY, TIMELINESS, AND ACCURACY OF THE INFORMATION, PLATFORM AND SERVICES PROVIDED BY THE COMPANY FOR ANY PURPOSE. ALL SUCH INFORMATION, SOFTWARE, PLATFORM, SERVICES AND RELATED GRAPHICS ARE PROVIDED "AS IS" WITHOUT WARRANTY OF ANY KIND.
- THE COMPANY AND/OR ITS PARTNERS, RESPECTIVE LICENSORS HEREBY DISCLAIM ALL WARRANTIES AND CONDITIONS WITH REGARD TO THIS INFORMATION, SOFTWARE, PLATFORM, SERVICES AND RELATED GRAPHICS, INCLUDING ALL IMPLIED WARRANTIES AND CONDITIONS OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, TITLE AND NON-INFRINGEMENT.THE FOREGOING LIMITATIONS OF LIABILITY WILL APPLY, NOTWITHSTANDING THE FAILURE OF ESSENTIAL PURPOSE OF ANY LIMITED WARRANTY OR REMEDY HEREIN.
- Exclusions of Remedies; Limitation of Liability. IN NO EVENT SHALL THE COMPANY, ITS OFFICERS, DIRECTORS, EMPLOYEES, OR AGENTSBE LIABLE FOR ANY INCIDENTAL, INDIRECT, SPECIAL, CONSEQUENTIAL OR PUNITIVE DAMAGES, REGARDLESS OF THE NATURE OF THE CLAIM, INCLUDING, WITHOUT LIMITATION, LOST PROFITS, COSTS OF DELAY, ANY FAILURE OF DELIVERY, BUSINESS INTERRUPTION, COSTS OF LOST OR DAMAGED DATA OR DOCUMENTATION OR LIABILITIES (EVEN IF THE COMPANY HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES), RESULTING FROM ANY ASPECT OF YOUR USE OF THE PLATFORM OR THE INFORMATION PROVIDED THROUGH IT, INCLUDING WITHOUT LIMITATION,THE DAMAGES THAT ARISE FROM USE OR MISUSE OF THE PLATFORM OR THE SERVICES, FROM INABILITY TO USE THE PLATFORM OR THE SERVICES, OR THE INTERRUPTION, SUSPENSION, MODIFICATION, ALTERATION, OR TERMINATION OF THE PLATFORM OR THE SERVICES PROVIDED THROUGH IT. SUCH LIMITATION OF LIABILITY SHALL ALSO APPLY WITH RESPECT TO DAMAGES INCURRED BY REASON OF OTHER SERVICES RENDERED THROUGH OR ADVERTISED IN CONNECTION WITH THE PLATFORM OR THE SERVICES OR ANY LINKS ON THE PLATFORM. THESE LIMITATIONS SHALL APPLY TO THE FULLEST EXTENT PERMITTED BY LAW. YOU SPECIFICALLY ACKNOWLEDGE AND AGREE THAT THE COMPANY SHALL NOT BE LIABLE FOR USER INFORMATION AND CONTENTS OR THE DEFAMATORY, OFFENSIVE, OR ILLEGAL CONDUCT OF ANY CUSTOMER OR THIRD PARTY, OR MISREPRESENTATION AS TO OWNERSHIP IN THE INTELLECTUAL PROPERTY RIGHTS OR ANY INFRINGEMENT BY THE CUSTOMER’S CONTENT, AND THAT, THE RISK OF HARM OR DAMAGE FROM THE FOREGOING RESTS ENTIRELY WITH YOU. THE PLATFORM IS FACILITATED, CONTROLLED AND OFFERED BY THE COMPANY FROM ITS FACILITIES IN INDIA. THIS LIMITATION UPON DAMAGES AND CLAIMS IS INTENDED TO APPLY WITHOUT REGARD TO WHETHER OTHER PROVISIONS OF THESE TERMS HAVE BEEN BREACHED OR HAVE PROVEN INEFFECTIVE.
IN NO EVENT SHALL THE MAXIMUM AGGREGATE LIABILITY OF THE COMPANY EXCEED THE TOTAL AMOUNT PAID BY THE CUSTOMER FOR THE SERVICES, GIVING RISE TO SUCH CLAIM AND IN THE EVENT THE CUSTOMER IS USING THE FREE VERSION OF THE PLATFORM, THE MAXIMUM AGGREGATE LIABILITY OF THE COMPANY, SHALL NOT EXCEED INR 100.
The Parties acknowledge and agree that the disclaimers, exclusions and limitations of liability set forth in this Section 8 form an essential basis of these Terms, and that, absent these disclaimers, exclusions and limitations of liability, the provisions of these Terms, including, the economic terms, would be substantially different.
- INTELLECTUAL PROPERTY RIGHTS
- Any and all rights to the Platform along with any Enhancements or upgrades thereto, and any Documentation provided therewith, including title, ownership rights and intellectual property rights such as copyrights, trademarks, service marks and patents therein shall remain the sole and exclusive property of the Company and/or its suppliers or its licensors.
- From time to time, Customer may provide feedback, suggestions, requirements or recommendations (“Feedback”) regarding the Platform or the Services. Customer assigns to Company all right, title and interest to such Feedback and an exclusive right to create any developments based on such Feedback.
- Customer shall retain title to and all ownership rights in Customer Data. Company shall not be liable in any manner whatsoever, for any claim arising out of or relating to the Customer Data.
- If We receive any intellectual property right infringement claim notification against any content posted by You on the Platform, We may remove all such content, which is indicated as infringing and/or take any other appropriate action, in our sole discretion.
- All material on this Platform, including but not limited to audio, images, photographs, software, text, icons and such like content (the “Content”), are protected by copyright under the copyright laws or any other relevant intellectual property laws. You cannot use the Content or works of other users, except as specified herein.
- In case You wish to submit any oral Feedback or raise a complaint, please write to support@myfolio.ai.
- CONFIDENTIAL INFORMATION
- “Confidential Information” shall mean information including without limitation Platform, Documentation, reports, analysis, Customer informationfinancial, business, technical and marketing information, business plans, methods, processes, inventions, techniques, designs, data, know-how, ideas, concepts, strategies, trade secrets, Services and such other information. Confidential Information does not include information which: a) is in the public domain; (b) was known to the party of such disclosure or becomes known to the party without breach of any confidentiality agreement; (c) is independently developed by either party without violating any confidentiality obligations stated herein; (d) is disclosed pursuant judicial order or requirement of the governmental agency or by operation of law.
- The parties agree not to use any Confidential Information for any purpose except as stated in these Terms.
- The parties agree that any violation of the confidentiality obligations will cause irreparable injury to the other, entitling such party to obtain injunctive relief in addition to all legal remedies.
- TRANSFER OF CONFIDENTIAL INFORMATION
- Company shall retain the personal information of the Customer as stated in Privacy Policy of the Company, located at Myfolio - Legal.
- Company shall periodically send notifications and/or intimations to the Customers regarding transfer of the said confidential information.
- Company shall also be entitled, upon its sole discretion, to share the said personal information with the said nominee if the Customer fails to respond tonotifications/ alertsfor a continuous period of 11 days.
- The Customer hereby agrees that in no way shall Company be liable:
- to authenticate any documents provided by theCustomer;
- against any claims arising out such production of documents by the Customer.
- INDEMNITY
Customer shall indemnify, defend and hold harmless the Company against any all demands, costs, losses, liabilities, claims, proceedings or damages including attorney’s fees asserted against the Company, its agents, its customers, officers and employees arising out of or in connection with any claim relating to i) IPR violation ii) use of the Platform/ Service other than as permitted under these Terms, or iii) negligence or misconduct of the Customer or iv) Customer Data, or v) any breach of these Terms, or vi) any breach of applicable laws.
- PROHIBITED CONDUCT
You agree not to engage in any of the following activities:
- Violating laws and rights:
You may not (a) use the Platform for any illegal purpose or in violation of any local, state, national, or international laws, (b) violate or encourage others to violate any right of or obligation to a third party, including but not limited to, by infringing, misappropriating, or violating intellectual property, confidentiality, or privacy rights, by use of the Platform.
- Solicitation:
You may not use the Platform, or any information provided through the Platform for the transmission of advertising or promotional materials, including junk mail, spam, chain letters, pyramid schemes, or any other form of unsolicited or unwelcome solicitation.
- Disruption:
You may not use the Platform in any manner that could disable, overburden, damage, or impair the Platform, or interfere with any other user’s use and enjoyment of the Platform; including by:
- uploading or otherwise disseminating any virus, adware, spyware, worm or other malicious code, or
- interfering with or disrupting any network, equipment, or server connected to or used to provide the Platform, or violating any regulation, policy, or procedure of any network, equipment, or server.
- Harming others:
You may not share or transmit anything that is harmful, offensive, obscene, abusive, invasive of privacy, defamatory, hateful or otherwise discriminatory, false or misleading, or which incite the commission of an illegal or violent act;
- Impersonation, Misrepresentation, or unauthorized access:
You will not impersonate another person or entity, or misrepresent Your affiliation with a person or entity when using the Platform, nor will You misrepresent Your intellectual property rights in or to any content, for the purposes of uploading the same on the Platform;
- Developing competing offerings:
You will not use the Platform to develop any competing platforms, applications, websites or products which are similar or substantially similar to the Platform.
- Offensiveor Infringing Content:
In the event You are at the receiving end of any offensive content or are the victim of any such actions of any other Customer or Your work has been infringed and is being displayed as on the Platform, You are encouraged to report such content to the Company. The Company shall delete such offensive content and take any other corrective action as it deems fit. The Company shall also provide notice to the user, indulging in infringement of Your work.
You understand and acknowledge that if You indulge in any of the prohibited conduct stated above, and it is brought to the notice of the Company, the Company may terminate Your right to use the Platform and the Services and take any other corrective action as it deems fit.
- PRIVACY POLICY
The Company is committed to responsibly handling the information and data we collect through the Platform in compliance with our Privacy Policy. Please review the Privacy Policy so that You are aware of how we collect and use Your personal information. Our Privacy Policy is located at
Myfolio - Legal
- TERM AND TERMINATION
The Company reserves the right to cancel the Services at any time. Any violation of policies which results in extra costs will be billed to the Customer (i.e. transfer, space etc). The Customer shall not be entitled to any refund in the event of termination or cancellation of the User Account or stoppage of provision of Services under these Terms.
- INTERPRETATION
These Terms will in all events be construed as a whole, according to its fair meaning, and not strictly for or against a party merely because that party (or the party's legal representative) drafted the Terms. The headings, titles, and captions contained in these Terms are merely for reference and do not define, limit, extend, or describe the scope of these Terms or any provision herein. Unless the context requires otherwise, (a) the gender (or lack of gender) of all words used in these Termsincludes the masculine, feminine, and neutral, and (b) the word "including" means "including, without limitation”.
- ENTIRE AGREEMENT
These Terms and the Privacy Policy constitute the entire agreement between You and the Company, relating to this subject matter and supersede any and all prior communications and/or agreements between You and the Company relating to this subject matter.
- SEVERABILITY
If any provision of these Terms is determined to be invalid, illegal or unenforceable in any respect, including because of the duration thereof, the area covered thereby, or the types of activities restricted thereby, by a court of competent jurisdiction, the validity, legality or enforceability of the remaining provisions contained herein shall not in any way be affected or impaired thereby.
- WAIVER
The Company’s failure to exercise, or any delay in exercising, any right or remedy provided under these Terms shall not constitute a waiver of that or any other right or remedy, nor shall it preclude or restrict any further exercise of that or any other right or remedy. No single or partial exercise of any right or remedy by the Company provided under these Terms or by law shall preclude or restrict the further exercise of that or any other right or remedy.
- GOVERNING LAWS
These Terms shall be construed and governed by India.The parties consent to the exclusive jurisdiction of the competent courts in the Pune, Maharashtra with respect to any matters arising under or with regard to these Terms.
- No agency relationship
You agree that no joint venture, employment, or agency relationship exists between You and the Company as a result of these Terms or due to Your use of the Platform.
- ELECTRONIC RECORD
This document is an electronic record in terms of the Information Technology Act, 2000 and the rules framed there under as applicable, and the amended provisions pertaining to electronic records in various statutes as amended by the Information Technology Act, 2000. This electronic record is generated by a computer system and does not require any physical or digital signatures.
This document is published in accordance with the provisions of Rule 3 (1) of the Information Technology (Intermediaries Guidelines) Rules, 2011 that require publishing the rules and regulations, Terms of Use for access and usage of the Platform.
- CHANGE IN TERMS
We may update these Terms without any notice to You. You are encouraged to check these Terms on a regular basis to be aware of the changes made to them. Your continued use of the Platform after such change shall be deemed to be Your acceptance of the revised Terms.
The Terms were last modified on May 03, 2023.