Terms of Service

 

 

Effective 20th March 2017

This document is an electronic  record in terms of Information Technology Act, 2000 and is published in accordance with the provisions of Rule 3 of the Information Technology Act (Intermediaries guidelines) 2011, that provides for the due diligence to be exercised by www.bornbrio.com (bornbrio.com).

www.bornbrio.com (hereafter referred as "Site" or “Bornbrio” or “we” or “our”) is owned and operated by PH BRIO ONLINE & RETAILS SERVICES LIMITED (hereafter referred as “Bornbrio”). Bornbrio provides its Services subject to the conditions mentioned below. Before you use the Site, you must read and accept all of the terms and conditions in, and linked to, this Terms of Service, the Privacy Policy and any supplemental terms applicable to any particular feature, content and functionality of the website, where such supplemental terms are incorporated by reference into the Terms of Service , Privacy Policy, applicable laws and all conditions or policies referenced anywhere on the website (collectively, the "Terms"). This Terms of Service is effective upon acceptance. Use of any functionality of the Site constitutes acceptance of this Terms of Service. If this Terms of Service conflicts with any other document, the Terms of Service will control for the purpose of usage of this Site. If you do not agree to be bound by this Terms of Service and the Privacy Policy, you cannot use the Site in any way. Be sure to return to this page periodically to review the updated Terms of Service. We reserve the right, at any time and at our sole discretion, to change or otherwise modify the Terms of Service without prior notice. Your continued access or use of this Site signifies your acceptance of the updated or modified Terms of Service.

 

Definitions

In these Terms, we refer to those raising funds as "Campaign Owners" and to their Crowdfunding, Equity or Debt Campaign as "Campaigns." We refer to those pledging funds for Campaigns as "Investors" , "Subscribers" or "Donors" and to the funds they pledge as  "Contributions" , "Equity Bids" or  "Loan Offers" (as applicable). Campaign Owners, Donors, Investors, Subscribers  and other visitors to the Site are referred to collectively as "Users." The term "Your" or "Your(s)" refers to an individual user using the Site and its services in any capacity.  


I.  General

The terms and conditions apply to every user of this Site.

By using this Site, users agree to comply with all of the terms and conditions hereof.

The use of this Site is personal to the user and cannot be transferred to any other person or entity. However, Pages created in the name of a "Company" can be claimed and transferred by Site to a another User.

Bornbrio is not responsible for protecting the confidentiality of User's password(s). Users are responsible for safekeeping to ensure that their account is safe. Our systems encrypt your password for authentication. You can reset it by using our forgot password service through your registered email address.

Bornbrio is not responsible for interruptions in internet services and for the data lost while transmitting information on the internet.

The Site may remain unavailable from time to time for any reason including, without limitation, routine maintenance. You understand and acknowledge that due to circumstances both within and outside of the control of Bornbrio, access to the Site may be interrupted, suspended or terminated from time to time.

Bornbrio has the right, at any time, to change or discontinue any aspect or feature of the Site, including, but not limited to, content, hours of availability and equipment needed for access or use.

Bornbrio reserves the right, at all times, to discontinue or modify any of the Terms and Conditions as may be deemed necessary or desirable without prior notification to the User. The changes may include, among other things, the adding of certain fees or charges.

All types of changes and modifications are applicable immediately after being posted on Bornbrio

In the light of this, it is advisable for Users to read this document regularly for staying updated. If Users continue to use the Site post changes and modifications, it is implied that they agree to the Terms and Conditions herein.

Users agree not to reproduce, duplicate, copy, sell, resell or exploit any portion of the Service, use of the Service, or access to the Service or any contact on the Site through which the service is provided, without express written permission from Bornbrio.

Users give their consent for transfer of all the information provided (not including credit card and bank account information) in unencrypted form and includes

(a) transmissions over various networks; and

(b) changes to confirm and adapt to technical requirements of connecting networks or devices.;

Credit card and Bank Information is always encrypted during transfer over networks.

 

II. End User Eligibility

The Service is not available to:

 (a)The person  below 16 years of age

(b)The person  of unsound mind

(c)The person who has been declared bankrupt

(d)The person who has been suspended or removed from the system for any reason

 

Users may not have more than one active account. If you do not qualify, you cannot use the Service or the Site.

Users are prohibited from selling, trading, or otherwise transferring their accounts to another party. In using our website or agreeing to these terms and conditions, you warrant and represent to us that you are not in violation of end user eligibility clause.

 

II.  Bornbrio is a Venue and Marketplace

Bornbrio is an online venue and marketplace for  people and entities seeking to explore ideas, start businesses, hire people, offer or avail member offered services, showcase innovations, publish research papers and raise funds by creating their own fundraising Campaigns and

 (a)Donors who wish to encourage new ideas through crowdfunding

 (b)People looking out for careers with Startups

 (c)Investors looking to invest in Startups

 (d)Companies offering services to Startups

 (e) Companies looking for products and services offered by Startups

Apart from above, Users are allowed to register their ideas, connect with investors, participate in forums, create and contribute to the groups and undertake all such activities as permitted by their membership levels. The rights to a particular service is restricted by the membership level and services are offered at the sole discretion of Bornbrio.

Members posting jobs on the Site are doing so on behalf of the Companies created by them and Job Seekers are applying for the jobs posted directly by those Companies. This stands true for all services offered by members on the Site.

Users use the Services at their own risk and are responsible for the due diligence on the counterparties. The Services do not include the direct sale of securities to public, and Bornbrio is not a dealer in public securities.

 

III. User Account

Bornbrio reserves the right to refuse use of the Services to anyone and to reject, cancel, interrupt, remove or suspend any Campaign, Contribution, Equity Bids or Loan Offers or any Member Service at any time for any reason without any liability. Users under 16 years of age (Legal Age) are not eligible to use the Services without consent. Users between the ages of 16 and 18, can use the Services under supervision of a parent or legal guardian who is at least 18 years old, provided such parent or legal guardian also agrees to be bound by the Terms and agrees to be responsible for such use of the Services.

In consideration of your use of the Site, you declare that you ( individual or parent) are of legal age to form a binding contract and are not a person barred from receiving Services under the laws of India or any other applicable jurisdiction and will only use the Site to make legitimate purchases for yourself or for another person or entity for whom you are legally authorized to act for (and will inform such other persons about the Terms of Service and/or Privacy Policy) that apply to the purchase you have made on their behalf (including all rules and restrictions applicable thereto). You also agree to provide true, accurate, current and complete information about yourself and your projects or company as and when prompted by the Site. If you provide any information that is untrue, inaccurate, not current or incomplete (or becomes untrue, inaccurate, not current or incomplete), or Bornbrio has reasonable grounds to suspect that such information is untrue, inaccurate, not current or incomplete, Bornbrio has the right to suspend or terminate your account and refuse any and all current or future use of the Site (or any portion thereof) or hold any amounts held in your name. If you use the Site, you are responsible for maintaining the confidentiality of your account and password, and for restricting access to your computer. You agree to accept responsibility for all activities that occur under your account or password. For this reads on, we strongly recommend that you exit from your account at the end of each session. You agree to notify Bornbrio immediately of any unauthorized use of your account or any other breach of security. Bornbrio reserves the right to refuse service, terminate accounts, or remove or edit content in its sole discretion. Notwithstanding the above, we retain the right at our sole discretion to deny access to anyone to the Site and the Services we offer, at any time and for any reason, including, but not limited to, for violation of the Terms of Service or Privacy Policy. Additional terms and conditions will apply to the purchase or use of Services that you select. Please read those supplemental terms and conditions carefully . You agree to abide by the terms and conditions of purchase imposed by any counterparty with whom you elect to deal, including, but not limited to, payment of all amounts when due and in compliance with the prescribed rules and restrictions regarding such Services availed. You agree that any violation of any such counterparty rules and restrictions may result in cancellation of your purchase(s), in your being denied access to the applicable Service(s), in your forfeiting any monies paid for such Services, and/or in our debiting your account for any costs we incur as a result of such violation.

 

IV. User conduct and Prohibited Uses

All interactions on this Site must comply with these Terms and Conditions and Indian and International Laws. Although we welcome and encourage user interaction on our Site, we do insist and require that all Users restrict any and all activity in connection with the use of this Site to that which involves lawful purposes only. User shall not post or transmit through this Site any material which violates or infringes in any way upon the rights of others, or any material which is unlawful, threatening, abusive, defamatory, invasive of privacy or publicity rights, vulgar, obscene, profane or otherwise objectionable, which encourages conduct that would constitute a criminal offense, give rise to civil liability or otherwise violate any law, or which, without Bornbrio's express prior, written approval, contains advertising or any solicitation with respect to Products or Services. Any conduct by a User that on Bornbrio's exclusive discretion restricts or inhibits any other User from using or enjoying this Site is strictly prohibited. User shall NOT use this Site to advertise or perform any commercial, religious, political or non-commercial solicitation, including, but not limited to, the solicitation of users of this Site to become users of other on- or offline services directly or indirectly competitive or potentially competitive with Bornbrio.

Bornbrio is not a place for hatred, abuse, discrimination, disrespect, profanity, meanness, harassment, or spam. Do not use the Services to promote violence, degradation, subjugation, discrimination or hatred against individuals or groups based on race, ethnic origin, religion, disability, gender, age, veteran status, sexual orientation, or gender identity. Abstain from spamming the comments sections or other Users with unsolicited or unauthorized offers of goods and services, advertising, promotional material, junk mail, spam or chain letters, or inappropriate messages;

Campaign Owners are not permitted to create a Campaign to raise funds for illegal activities, to cause harm to people or property, or to scam others. If the Campaign seems infeasible, don't post it. Users must comply with all applicable laws and regulations in connection with their Campaigns, including offering Incentives and usage of funds raised. Campaign Owners shall not make any false or misleading statements in connection with their Campaigns. Bornbrio reserves the right to remove Campaigns and terminate User Accounts for such activities.

 

 V. License, License Disclaimer and Site Access

Bornbrio grants you a limited license to access and make personal or professional use of the Site and the Services. This license does not include any downloading or copying of any kind of information for the benefit of another individual, vendor or any other third party; caching, unauthorized hypertext links to the Site and the framing of any content available through the Site uploading, posting, or transmitting any content that you do not have a right to make available (such as, the intellectual property of another party); uploading, posting, or transmitting any material that contains software viruses or any other computer code, files or programs designed to interrupt, destroy or limit the functionality of any computer software or hardware or telecommunications equipment; any action that imposes or may impose (in Bornbrio's sole discretion) an unreasonable or disproportionately large load on Bornbrio's infrastructure; or any use of data mining, robots, or similar data gathering and extraction tools. You may not bypass any measures used by Bornbrio to prevent or restrict access to the Site. Any unauthorized use by you shall terminate the permission or license granted to you by Bornbrio. By using the Site you agree not to: (i) use this Site or its contents for any commercial purpose; (ii) make any speculative, false, or fraudulent transaction or any transaction in anticipation of demand; (iii) access, monitor or copy any content or information of this Site using any robot, spider, scraper, or other automated means or any manual process for any purpose without our express written permission; (iv) violate the restrictions in any robot exclusion headers on this Site or bypass or circumvent other measures employed to prevent or limit access to this Site; (v) take any action that imposes, or may impose, in our discretion, an unreasonable or disproportionately large load on our infrastructure; (vi) deep-link to any portion of this Site (including, without limitation, the purchase path for any Service) for any purpose without our express written permission; or (vii) "frame", "mirror" or otherwise incorporate any part of this Site into any other website without our prior written authorization. (viii) not to bypass any measures used by Bornbrio to prevent or restrict access to the Site (ix) Any unauthorized use by you shall terminate the permission or license granted to you by Bornbrio (x) not hack or otherwise hire some third party to hack the site or use any other unauthorized means to access any third party information. In the event you do so, you shall be liable of a criminal offence and Bornbrio shall institute appropriate legal proceedings to claim damages.

Bornbrio also reserve rights to initiate proceedings in accordance with the law relating to intellectual property rights violation or infringement available to it, in case the misuse of this website is a person or an entity that belongs out of India. In any event, the jurisdiction to initiate any protective proceedings shall vest with Bornbrio within the jurisdiction of Bangalore.

 

VI. Monitoring Users

Bornbrio shall have the right, but not the obligation, to monitor the content of the Site at all times, including any chat rooms and forums that may hereinafter be included as part of the Site, to determine compliance with this Agreement and any operating rules established by Bornbrio, as well as to satisfy any applicable law, regulation or authorized government request. Without limiting the foregoing, Bornbrio shall have the right to remove any material that Bornbrio, in its sole discretion, finds to be in violation of the provisions hereof or otherwise objectionable.

 

 VII. Disclosure of Basic Information

In order to avail of the Services from the Site, you will need to provide your and your Project's / Company's details prior to getting enlisted either as a Campaigner or as an Investor or Subscriber. As an account holder you are required to provide Bornbrio with accurate information.

Any personal information collected by Bornbrio shall not be disclosed to any third party unrelated to the Bornbrio business unless such a disclosure is authorized or required by law, or you have expressly consented to such a disclosure. However, by accepting the terms and conditions you grant Bornbrio an unconditional right to share your personal information with Bornbrio's partners, affiliates, employees and agents for administrative purpose. Please also see the Privacy Policy in this regard.

 


VIII. Disclosure of Credit Card Details

You agree, understand and confirm that the credit card details provided by you for availing of services on Bornbrio will be correct and accurate and you shall not use the credit card which is un-lawfully owned by you, thus you must not pay or attempt to pay for services using fraudulent credit card information. You further agree and undertake to provide the correct and valid credit card details to Bornbrio.

Further the said information will not be utilized and shared by Bornbrio with any third parties unless required for fraud verifications or by law, regulation or court order. Bornbrio will not be liable for any credit card fraud. The liability for use of a card fraudulently will be on you and the onus to ‘prove otherwise’ shall be exclusively yours.


IX. License Grant

By posting communications on or through this Site, User shall be deemed to have granted to Bornbrio a royalty-free, perpetual, irrevocable, non-exclusive license to use, reproduce, modify, publish, edit, translate, distribute, perform, and display the communication alone or as part of other works in any form, media, or technology whether now known or hereafter developed, and to sublicense such rights through multiple tiers of sub-licensees.

 

 X. Fraudulent /Declined Payment Transactions

Bornbrio reserves the right to recover the cost of Service(s) and Product(s), collection charges and lawyers fees from persons using the Site fraudulently. Bornbrio reserves the right to initiate legal proceedings against such persons for fraudulent use of the Site and any other unlawful acts or omissions in breach of these terms and conditions.

 

XI. Links and Third Party Resources

The Site or third parties may provide links to other World Wide Web sites or resources. Since Bornbrio has no control over such sites and resources, you acknowledge and agree that Bornbrio is not responsible for the availability of such external sites or resources, and does not endorse and is not responsible or liable for any content, advertising, products or other materials on or available from such sites or resources. You further acknowledge and agree that Bornbrio shall not be responsible or liable, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with use of or reliance on any such content, goods or services available on or through any such site or resource.

Any use by you of optional tools offered through the site is entirely at your own risk and discretion and you should ensure that you are familiar with and approve of the terms on which tools are provided by the relevant third-party provider(s).

Complaints, claims, concerns, or questions regarding third-party products should be directed to the third-party.

 

XII. Access to Password Protected/Secure Areas

Access to and use of password protected and/or secure areas of the Site is restricted to authorized Users only. Unauthorized individuals attempting to access these areas of the Site may be subject to prosecution.

 

XIII. Monitoring

In case it comes to your knowledge that any member of this website has committed default or fraud or misrepresents his financial status than you may inform Bornbrio in writing and upon receipt of such information Bornbrio shall call upon such third party to explain the allegations made in your Notice and upon receipt of an explanation from such third party Bornbrio shall in its own discretion decide as to whether such a person should be prohibited from using the Site.

 

XIV. Applicable Laws:

Your use of this Site and any Term and Conditions stated in this policy is subject to laws of India and/or laws of United Kingdom.

All arbitrations shall be dealt in accordance with the laws of United Kingdom.

Courts of Bangalore will have exclusive jurisdiction of dealing with all disputes arising from use of this site and all legal proceedings shall be held in accordance with the laws of India. 

 

XV. Trademarks

The trademarks, logos and service marks ("Marks") displayed on the Site are the property of Bornbrio and other respective persons. Users are prohibited from using any Marks for any purpose including, but not limited to use as meta-tags on other pages or sites on the World Wide Web without the written permission of Bornbrio or such third party which may own the Marks. All information and content including any software programs available on or through the Site ("Content") is protected by copyright. Users are prohibited from modifying, copying, distributing, transmitting, displaying, publishing, selling, licensing, creating derivative works or using any Content available on or through the Site for commercial or public purposes.

 

XVI. Changes to Terms and Conditions and Prices

Bornbrio reserves the right to change these Terms and Conditions of its Service without informing you. You should check our Site for any updated Terms and Conditions.

The prices/ fees of the products or services offered by the Site are not constant and are subject to change. The Site reserves the right to change the prices/fees of the products or services without notice. The Site further reserves the right to discontinue the sale of any product or service without any notice. The users of the website are bound by the modifications made by the Site from time to time in the nature, price or other specifications in the goods or services offered by it.

We reserve the right to refuse any order you place with us. We may, at our sole discretion, limit or cancel quantities purchased per person or per order. These restrictions may include orders placed by or under the same customer account, the same credit card, and/or orders that use the same billing and/or shipping address. In the event that we make a change to or cancel an order, we may attempt to notify you by contacting the e-mail and/or billing address/phone number provided at the time the order was made. We reserve the right to limit or prohibit orders that, in our sole judgment, appear to be placed by dealers, re sellers or distributors. You agree to provide current, complete and accurate purchase and account information for all purchases made at our Site. You agree to promptly update your account and other information, including your email address and credit card numbers and expiration dates, so that we can complete your transactions and contact you as needed.


XVII. Errors, Inaccuracies and omissions

There may be inadvertent typographical errors, inaccuracies or omissions with respect to any service, pricing, offers etc., and the Site reserve the right to correct the same at any time without prior notice (including after you have submitted your order). The Site undertakes no obligation to update, amend or clarify information in the Service or on any related website, including without limitation, pricing information, except as required by law. No specified update or refresh date applied in the Service or on any related website, should be taken to indicate that all information in the Service or on any related website has been modified or updated.



XVIII. Disclaimer of Warranties; Limitation of liability

We do not guarantee, represent or warrant that your use of our service will be uninterrupted, timely, secure or error-free. We do not warrant that the results that may be obtained from the use of the service will be accurate or reliable. The service and all products and services delivered to you through the service are (except as expressly stated by us) provided 'as is' and 'as available' for your use, without any representation, warranties or conditions of any kind, either express or implied, including all implied warranties or conditions of merchantability, merchantable quality, fitness for a particular purpose, durability, title, and non-infringement. In no case shall Bornbrio, our directors, officers, employees, affiliates, agents, contractors, interns, suppliers, service providers or licensors be liable for any injury, loss, claim, or any direct, indirect, incidental, punitive, special, or consequential damages of any kind, including, without limitation lost profits, lost revenue, lost savings, loss of data, replacement costs, or any similar damages, whether based in contract, tort (including negligence), strict liability or otherwise, arising from your use of any of the service or any products procured using the service, or for any other claim related in any way to your use of the service or any product, including, but not limited to, any errors or omissions in any content, or any loss or damage of any kind incurred as a result of the use of the service or any content (or product) posted, transmitted, or otherwise made available via the service, even if advised of their possibility. Because some states or jurisdictions do not allow the exclusion or the limitation of liability for consequential or incidental damages, in such states or jurisdictions, our liability shall be limited to the maximum extent permitted by law and shall in no case exceed the payment value of the transaction carried on the website.


XIX. Indemnity

Users agree to indemnify, defend and hold harmless the Site and its parent, subsidiaries, affiliates, partners, officers, suppliers, service providers, directors, agents, contractors, subcontractors, and employees from any claim or demand, including reasonable attorneys’ fees, made by any third-party due to or arising out of your breach of these Terms of Service or violation of any law or the rights of a third-party. Any Campaigns for fundraising should comply with Central bank and other regulatory bodies requirements in your country of residence and website owners shall not be responsible for any regulatory fall outs.

You agree to indemnify and hold Bornbrio (and its officers, directors, agents, subsidiaries, joint ventures, and employees) harmless from any claim or demand, including reasonable attorneys’ fees, or arising out of or related to your breach of these Terms &Conditions, or your violation of any law or the rights of a third party including but not limited to breach of any warranties, representations or undertakings or in relation to the non-fulfillment of any of your obligations under this T&C or arising out of violation of any applicable laws, regulations including but not limited to Intellectual Property Rights, payment of statutory dues and taxes, claim of libel, defamation, violation of rights of privacy or publicity, loss of service by other subscribers and infringement of intellectual property or other rights.

This clause shall survive the expiry or termination of this T&C and the expiry or termination of the tenure of Bornbrio's officers, directors, agents, subsidiaries, joint ventures, and employees.


XX. Termination

Either of the parties can terminate these Terms of Service by notifying the other party. The obligations and liabilities incurred prior to the date of termination of these Terms of Service shall survive notwithstanding the termination of this Terms of Service. However, the Site, at its discretion, is empower to terminate these Terms of Service without notice and shall deny the access to users of the site after termination.


XXI. Amendment

The Site reserves the right to amend, modify or replace any part of this Terms of Service by posting updates at our website and the same is binding on the users of the website.

 

XXII. Limitation of Liability

Bornbrio, its associates and technology partners make no representations or warranties about the accuracy, reliability, completeness, current-ness and/or timeliness of any content, information, software, text, graphics, links or communications provided on or through the use of the Site or that the operation of the Site will be error free and/or uninterrupted. Consequently, Bornbrio assumes no liability whatsoever for any monetary or other damage suffered by you on account of the delay, failure, interruption, or corruption of any data or other information transmitted in connection with use of the Site; and/or any interruption or errors in the operation of the Site. You expressly understand and agree that Bornbrio and its subsidiaries, affiliates, officers, employees, agents, partners and licensors shall not be liable to you for any direct, indirect, incidental, special, consequential or exemplary damages, including, but not limited to, damages for loss of profits, goodwill, use, data or other intangible losses (even if Bornbrio has been advised of the possibility of such damages), resulting from use of the Site, sale and supply of Products content or any related goods and services.

It is users responsibility to verify the information provided herein from the primary source and obtain necessary professional assistance before making any decision. Any reliance on the material on this site is at users own risk. The Site reserve the right to modify the contents of this site at any time, but we have no obligation to update any information on our site. It remains users responsibility to monitor changes on our site.

This limitation of liability section shall prevail over any conflicting or inconsistent provision contained in any of the documents comprising this Agreement. It is up to you to take precautions to ensure that whatever you select for your use is free of such items as viruses, worms, Trojan horses and other items of a destructive nature.

The User further with immediate effect waives any right which had accrued to him from using the website to initiate any legal action against Bornbrio. User also acknowledges that the credibility of a Investor or a Campaign Owner as depicted upon the website is based on the information that is provided to Bornbrio. In case there is a non-disclosure of information to Bornbrio of the information, and the judgment of Bornbrio is impaired and the ratings or credibility of a Investor or a Campaign Owner is not found to be correct, Bornbrio shall not be responsible for any claims or liabilities. Bornbrio in any event is not responsible for any default in return of money that is borrowed from the Investor or returns on the capital invested by an investor and the Investor shall have exclusive rights to initiate proceedings against the defaulting Campaign Owner. Bornbrio does provide the necessary information and support to the Investor. However, Investor shall not make any claim against Bornbrio and shall conduct an independent due diligence of the Campaign Owner before investing in his/her project.

 

XXIII. Severability

If one or more provisions of this Terms of Service are held to be unenforceable under any applicable law, then such provision(s) shall be excluded from this Terms of Services and the remaining provisions of this Terms of Services be interpreted as if such provision(s) were so excluded and shall be enforceable in accordance with these terms.


XXIV. Contact information

Questions about the Terms of Services should be sent to us at admin@bornbrio.com.

 

XXV Subscription, Service Fees & Deposits

Setting up an account is free, however you need to subscribe for access to certain services.

Crowdfunding and P2P loan campaigns can be created by anyone, however, you need subscription for creating a Equity campaign or posting a job. Similarly donations can be made by anyone but equity bids and loan offers require appropriate subscriptions. Details of Equity and loan campaigns are available  only upon required subscription. Please refer to the subscription plans for more details on each service and required subscription plan thereupon.

We charge a Service fees to Campaign Owners as a portion of the amount targeted (the "Service Fees").

Service fees is also applicable for use of certain privileged services. By using the Services, Users agree to our Service Fees listed for under this document or under service terms. Changes to Service Fees are effective after we post notice of the changes. Updated Service Fees are applied after the notice is posted.

A Deposit is taken from the Campaign Owners posting Equity and Loan Campaigns and from Investors placing Equity Bids or Loan Offers. The deposit is primarily a security,  fully refundable on successful completion of your liabilities with the counterparties.  Service Fees is however applicable as per the terms. There are no deposits applicable for Crowdfunding Campaigns.

No payments are accepted against securities or for transfer of securities and it is the responsibility of the Campaign Owner and Investors to settle the deal between themselves. Bornbrio only uses the deposit to ensure that parties at both end  comply with agreed terms. It can extend its escrow account to facilitate fund transfers, however, that shall not be construed as Bornbrio being a party to the transaction. It is a service provided to the users for developing trust when transfer of money is involved. Bornbrio has no moral or legal obligations to ensure that parties at both the ends comply. We retain the right to confiscate deposits of a party, if their counterparty obligations are not fulfilled.

There is no Service Fees or subscription required for job seekers.

 

XXVI. Refund

Your subscription is subjected to the Terms of Service. The Site reserves the right to terminate it without notice. If terminated, you will be refunded the pro-rated subscription fees for the period your subscription was cancelled. You can cancel your subscription at any point of time, but the Site in that case is not liable for any refunds.

Donors on Crowdfunding campaign may request a refund from bornbrio only and only before the end of a Campaign. All deposits on Equity and Loan Campaigns will be refunded only after completion of all counterparty obligations.

No other refunds will be entertained by Bornbrio in any case.

 

XXVII. Taxes

Taxing authorities may classify funds raised as taxable income to the Campaign Owner and any beneficiary who will receive funds directly from the applicable Campaign. Bornbrio will ask for the tax identification number (TIN) of Campaign Owners and any beneficiaries so that we may report taxable income to the relevant taxing authorities in our Jurisdiction. Bornbrio will provide Campaign Owners with a tax document if required by the relevant taxing authorities.

 

XXVIII. Cooperation with Authorities and Police Enforcement

We will cooperate with law enforcement authorities as required by law. We will cooperate with law enforcement agencies in any investigation of alleged illegal activity regarding the use of the Services when requested.

 

XXIX. Export Compliance

Users agree to comply with all laws, restrictions and regulations relating to the export of products and information. Each User states that such User is: (a) not a citizen, or otherwise located within, an embargoed nation or is not dealing on-behalf of  any  person or entity located in such region.

 

XXX. Unsolicited Idea Submissions

Content published by Users might be similar or even identical to another submission received by Bornbrio. When we refer to a "submission" in this paragraph, we mean: any submission, comment, or suggestion (including, but not limited to, ideas, products, or services) made either on the Bornbrio platform or to Bornbrio about an existing product or service, or a feature of, or a proposed addition to, the bornbrio platform. All submissions are non-confidential and non-proprietary and will be treated as non-confidential and non-proprietary. Bornbrio and its Users are entitled to unrestricted use or disclosure of the submissions for any purpose whatsoever, all without compensation to the User that submitted the submission.

 

XXXI. User Acknowledgements

You acknowledge that neither Bornbrio nor any of its subsidiary or affiliate is engaged in or has any interest in either grant of loan or funding or in borrowing or donation of money on any campaign on its website. You also acknowledge that bornbrio has no role to play in ensuring that donors or investors like your campaign and pledge funds or the  committed funds will be used for the campaigned purposes.

You acknowledge that Bornbrio is not at all responsible for any claim or damage in case either the person who has pledged funding or the person who receives funding, defaults on its commitment.

You acknowledge that the Bornbrio in no manner warrants or guarantees the performance of a service or commitment made by anyone through the use of its Site.

You acknowledge that all information provided by you on the website is true to the best of your knowledge and the counterparty utilizing that information for any transaction with you shall use that information for prosecuting you if the information is found to be untrue.

You acknowledge that the Bornbrio in no manner warrants and guarantees that the users provided information on this Site is true and correct including his address, phone numbers, project financial details etc. You further acknowledge that bornbrio is a marketplace regulating transactions, but has limited or no control over user provided information. 

You acknowledge that you have taken expert advice from a legal consultant or any other expert so required about your status to transact on the site.

You acknowledge that you are aware of all your rights, duties and applicability of various laws including not limited to Money Lending Act, Money Laundering Act, Foreign Exchange Act, Foreign Direct Investment Act, Income Tax Act, or any other statute, or law, which may govern the lending and borrowing of monies or private placement of equities and investment in companies within your State of residence or from where you conduct your business.

You acknowledge that by subscribing to a membership level, you have legally confirmed that you meet the minimum criteria set as qualifying factor for that membership level. 

 

XXXII : Entire Understanding

These Terms of Service record the entire understanding between the Site and users of this site hereto with respect to the matters contained herein and there are no other terms, conditions or stipulations, oral or written, implied or expressed other than those supplemented when using a particular service on the website. These Terms of Service along with the supplements represent the entire agreement as to the subject matter hereof, and supersede any prior understanding between the Parties.

 

XXXIII. Waiver

There will be no waiver of any term, provision or condition of this Terms of Service unless such waiver is evidenced in writing and signed by the waiving Parties. No omission or delay in exercising any right, power or privilege hereunder will operate as a waiver thereof, nor will any single or Partial exercise of any such right, power or privilege preclude any other. The rights and remedies herein provided are cumulative with and not exclusive of any rights or remedies provided by law.


XXXIV. Jurisdiction

In respect of any matter arising out of this Agreement only the Courts at Bangalore shall have jurisdiction to adjudicate the same in accordance with the laws of India.

 

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