Welcome to Finalan!

These Terms and Conditions ("Terms") govern your use of Finalan's software solutions and services designed specifically for Microfinance Institutions and Society Banks ("Services"). By accessing or using our Services, you agree to be bound by these Terms.

Definitions:

• "Client" refers to the Microfinance Institution or Society Bank using our Services
• "Software" refers to Finalan's proprietary software solutions for financial institutions
• "Services" refers to software licensing, implementation, support, and maintenance services
• "Data" refers to all information processed through our Software

Software License Agreement

Grant of License: Subject to these Terms and payment of applicable fees, Finalan grants you a non-exclusive, non-transferable license to use the Software solely for your internal business operations.

License Restrictions: You may not:

• Modify, reverse engineer, or create derivative works of the Software
• Distribute, sublicense, or transfer the Software to third parties
• Use the Software for any unlawful purpose or in violation of regulatory requirements
• Attempt to circumvent security measures or access controls
• Remove or alter any proprietary notices or labels

Service Agreement

Service Levels: Finalan will provide Services in accordance with the agreed Service Level Agreement (SLA), including:

• Software implementation and configuration
• Technical support during business hours
• Regular software updates and patches
• Training and documentation
• System maintenance and monitoring

Client Responsibilities:

• Provide accurate and complete information for software configuration
• Ensure compliance with applicable financial regulations
• Maintain secure access credentials and user management
• Perform regular data backups
• Report security incidents promptly

Data Security and Privacy

Data Protection: Finalan implements industry-standard security measures to protect your data, including:

• End-to-end encryption for data transmission and storage
• Multi-factor authentication and access controls
• Regular security audits and vulnerability assessments
• Secure data centers with 24/7 monitoring
• Compliance with applicable data protection regulations

Data Ownership: You retain ownership of all data processed through our Software. Finalan acts as a data processor and will not access, use, or disclose your data except as necessary to provide Services or as required by law.

Regulatory Compliance

Financial Regulations: Our Software is designed to help you comply with applicable financial regulations, including:

• Anti-Money Laundering (AML) requirements
• Know Your Customer (KYC) procedures
• Data localization and privacy requirements
• Financial reporting and audit requirements
• Reserve Bank and regulatory authority guidelines

Compliance Responsibility: While our Software includes compliance features, you remain solely responsible for ensuring your operations comply with all applicable laws and regulations.

Limitation of Liability

Service Warranty: Finalan warrants that the Software will perform substantially in accordance with the documentation. Our sole liability for breach of this warranty is to correct the non-conformity or provide a refund.

Limitation of Damages: To the maximum extent permitted by law, Finalan's total liability shall not exceed the fees paid by you in the 12 months preceding the claim. We shall not be liable for:

• Indirect, incidental, or consequential damages
• Loss of profits, data, or business opportunities
• Regulatory fines or penalties
• Third-party claims arising from your use of the Software

Termination

Term: This Agreement continues until terminated by either party with 30 days written notice.

Termination for Cause: Either party may terminate immediately upon:

• Material breach of these Terms
• Insolvency or bankruptcy proceedings
• Violation of applicable laws or regulations

Effect of Termination: Upon termination:

• Your license to use the Software terminates immediately
• We will provide data export assistance for 30 days
• All confidential information must be returned or destroyed
• Outstanding fees become immediately due

Intellectual Property

Finalan retains all rights, title, and interest in the Software and related intellectual property. This Agreement does not grant you any rights to our trademarks, trade names, or other proprietary marks.

Confidentiality

Both parties agree to maintain the confidentiality of proprietary information and not to disclose such information to third parties without written consent, except as required by law.

Indemnification

You agree to indemnify and hold Finalan harmless from any claims arising from your use of the Software, violation of these Terms, or breach of applicable laws or regulations.

Governing Law and Jurisdiction

These Terms shall be governed by the laws of India without regard to conflict of law principles. Any disputes shall be resolved through binding arbitration in Nadia.

Modifications

Finalan may modify these Terms upon 30 days written notice. Continued use of the Services constitutes acceptance of the modified Terms.

Contact Information

For questions regarding these Terms, please contact us at:

Email: legal@finalan.com
Phone: (+91) 98009 09899
Address: Bethuadahri, Near Bethuadahri BDO Office, Nakashipara, Nadia, West Bengal, India pin-741126