Terms & Conditions

Shari Finance Legal Notices

www.sharifinance.com "Shari Finance","We", "Website" or "our" is an online platform to bring together lenders and borrowers. The website is operated and owned by Tub Private Limited.

On this Website, a visitor could browse and search for persons who are willing to lend, persons who are willing to borrow, details of service providers such as verification agencies, collection agents and other such service providers that would provide services to either lenders or to borrowers. For the avoidance of doubt, we shall merely facilitate a transaction of borrowing and lending between two such persons. We neither lend nor borrow through the website. Shari Finance is neither a financial institution, nor runs a collective investment scheme or a chit fund or any other such financial scheme.

As a user ("User", "You" or "Your") of this Website, it is implied that you have read, understood and agreed to abide by following, disclaimer, terms & conditions ("Terms & Conditions"). These Terms & Conditions together with our privacy policy as provided on the Website ("Privacy Policy") govern your usage of the Website. By using the Website, you signify that you have read, understood and are agreeing to these Terms of Use, regardless of whether you are a registered member of our services. If you disagree with any part of these terms and conditions, please do not use the Website. The content of the pages of this website is for your general information and use only. It is subject to change without notice.

Eligibility

The User of this Website declares and agrees that the User is a natural / legal person who has attained the age of at least 23 years.

Persons who cannot enter into legally binding contract in accordance with the provisions of the USA Contract Act, 1872, including person of unsound mind and un-discharged insolvents etc. are not entitled to use the Website. The User should be any person and should have Citizenship status. The User should also have a valid Savings Bank Account. The User is allowed to utilize the services of the Website in accordance with the Terms and Conditions detailed hereinafter.

If the User violates any of these Terms & Conditions, or otherwise violate an agreement entered into through the medium of the Website, Shari Finance may, delete User's profile and any content or information posted by the User on the Website and/or prohibit the User from using or accessing the Website at any time in its sole discretion, with or without notice, including without limitation if it believes that you are under 23.

Acceptance Of Terms and Conditions

As a User of this Website you have agreed to the Terms and Conditions that Shari Finance has provided hereunder or anywhere else in this Website including but not limited to disclaimers on this Website. You are advised to read and understand the said Terms and Conditions and in case you do not wish to agree to these Terms and Conditions, please refrain from using the website.

  • All borrowers must pay Shari Finance's service fees immediately after the first transfer of funds from any one of the investors in the entire loan.
  • All Investors must transfer the funds within 7 days of receipt of the loan agreement and confirmation from Lendbox about the receipt of security cheques
  • All borrowers must issue three blank security cheques in favour of each investor in the loan deal and send the same to Shari Finance. The security cheques are to contain the investor's name and the borrower's signature but the date and amount is to be left blank.
  • All borrowers must pay the EMI on or before the due date or be liable to pay late fees of 2% per month calculated on a daily basis

Your Account

If you use the Website, you are responsible for maintaining the confidentiality of your account and password and for restricting access to your computer to prevent unauthorized access to your account. You agree to accept responsibility for all activities that occur under your account or password. You should take all necessary steps to ensure that the password is kept confidential and secure and should inform us immediately if you have any reason to believe that your password has become known to anyone else, or if the password is being, or is likely to be, used in an unauthorized manner. Please ensure that the details you provide us with are correct and complete and inform us immediately of any changes to the information that you provided when registering. You can access and update much of the information you provided us with in 'dashboard' area of the website after you log-in or by writing to us at support@sharifinance.com You undertake not to directly communicate in any manner with the other users of this Website. All communication between prospective Lenders and Borrowers should be through Shari Finance on this Website. Shari Finance reserves the right to refuse access to the Website, terminate accounts, remove or edit content at any time without notice to you. The right to use this Website is personal to the User and is not transferable to any other person or entity. Shari Finance shall not be responsible for any data lost while transmitting information on the Internet.

Cancellation By Shari Finance

We reserve the right, at our sole discretion, to refuse or cancel any request for registrations on the website for any reason. We may also require additional verifications or information before accepting any instruction or registering you on are portal as a Lender or a Borrower. The Borrower(s) and Shari Finance(s) are required to note that negative third party verification report(s) are crucial factors considered during the funding process. The funding may get rejected at any stage due to lack of information or verifiable information.

Registration Fees

  • A one-time non-refundable fee of $ 1,500 is charged upon your listing on the Website as "Lender"/"Investor" or "Borrower". Credit card information collected for the purpose of payment for using our services will be stored securely using a 256 bit SSL encryption technology or on a cloud.
  • Credit card information will be masked on your account and will not be visible to Shari Finance Customer Service operators.
  • You agree, understand and confirm that the credit card details provided by you for availing of services on Lendbox 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 Shari Finance.
  • Further the said information will not be utilized and shared by Shari Finance with any third parties unless required for fraud verifications or by law, regulation or court order. Shari Finance 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.

Fraudulent /Declined Transactions

Shari Finance reserves the right to initiate legal proceedings against any persons for fraudulent use of the Website and any other unlawful acts or omissions in breach of these terms and conditions.

Security Cheques from Borrowers

Shari Finance will retain the security cheques which are issued by the borrowers once the loan is executed. The security cheques will only be used after consultation with both the borrower and the investors. Shari Finance is not responsible for the validity of the cheques and that they will be honoured or not once presented to the bank in case of default or delay in payments.

Loan approvals and information provided

The information provided in the registration form is property of Shari Finance and is no guarantee that a loan will be provided to the user. Shari Finance will not distribute the complete information without prior consent from the user and it will only use the information to assist in the user's endeavour to get a loan. The borrower registration form is only used for initial assessment purposes and Shari Finance does not provide a guarantee that a loan will be provided even after all the information is provided by the user.

Please note: A fine of $ 500 will be levied if you accept the confirmation and later decide not to fund the borrower.

Modification Of Terms & Conditions

Shari Finance reserves the right, at its sole discretion, to modify or replace these Terms and conditions, or change, suspend, or discontinue the website and its services (including, but not limited to, the availability of any feature, database, or Content) at any time for any reason. Shari Finance may also impose limits on certain features and services or restrict your access to parts or all of the Website without notice or liability. It is your responsibility to check the Terms and Conditions periodically for changes. Your continued use of the Website following the posting of any changes to the Terms and conditions constitutes acceptance of those changes.

Monitoring Of the Website and Your Account

Shari Finance has the right and liberty to monitor the content of the Website at all times which shall include information provided in your account. The monitoring of the Website is important to determine the veracity of the information provided by you and that every User remains in consonance with the Terms and Conditions provided herein. Subject to the Terms and Conditions mentioned herein Shari Finance shall also have the liberty to remove any objectionable content which is in contravention of the Terms and Conditions herein or share such information with any governmental authority as per procedures laid down by the law for the time being in force in USA.

License and Site Access

Shari Finance grants you a limited license to access and make personal use of the Website, but not to download (other than page caching) or modify it, or any portion of it, except with express written consent of Shari Finance. This license does not include any resale or commercial use of this Website or its contents; any downloading or copying of account information for the benefit of anyone other than your use; or any use of data mining, robots, or similar data gathering and extraction tools. This website or any portion of this website (including but not limited to any copyrighted material, trademarks, or other proprietary information) may not be reproduced, duplicated, copied, sold, resold, visited, distributed or otherwise exploited for any commercial purpose without express written consent of Shari Finance and / or its affiliates, as may be applicable. Any unauthorized use of the Website shall terminate the permission or license granted by Shari Finance.

Limitation Of Liability

Notwithstanding anything to the contrary contained herein, neither Shari Finance nor its affiliated companies, subsidiaries, officers, directors, employees or any related party shall have any liability to you or to any third party for any indirect, incidental, special or consequential damages or any loss of revenue or profits arising under or relating to these Terms and Conditions. To the maximum extent permitted by law, you waive, release, discharge and hold harmless Shari Finances it's affiliated and subsidiary companies, and each of their directors, officers, employees, and agents, from any and all claims, losses, damages, liabilities, expenses and causes of action arising out of your use of the Website.

Applicable Laws

Your use of this Website and any Term and Conditions is subject to laws of USA/UK. In case of any disputes arising out of the use of the Website, Courts of USA/UK will have exclusive jurisdiction.

Indemnity

You agree to indemnify, save, and hold Shari Finance, its affiliates, contractors, employees, officers, directors, agents and its third party associates, licensors, and partners harmless from any and all claims, losses, damages, and liabilities, costs and expenses, including without limitation legal fees and expenses, arising out of or related to your use or misuse of the services or of the Website, any violation by you of these Terms and Conditions, or any breach of the representations, warranties, and covenants made by you herein. Shari Finance serves the right, at your expense, to assume the exclusive defense and control of any matter for which you are required to indemnify Shari Finance, including rights to settle, and you agree to cooperate with Shari Finance defense and settlement of these claims. Shari Finance will use reasonable efforts to notify you of any claim, action, or proceeding brought by a third party that is subject to the foregoing indemnification upon becoming aware of it.

Disclaimer Of Warranties

Your use of the service and all information, products and other content (including that of third parties) included in or accessible from the Service is at your sole risk. The Service is provided on an "as is" and "as available" basis. Shari Finance expressly disclaim all warranties of any kind as to the Service and all information, products and other content (including that of third parties) included in or accessible from the Service, whether express or implied, including, but not limited to the implied warranties of merchantability, fitness for a particular purpose and non-infringement. Shari Finance make no warranty that (i) the Service will meet your requirements, (ii) the Service will be uninterrupted, timely, secure, or error-free, (iii) the results that may be obtained from the use of the Service will be accurate or reliable, (iv) the quality of any products, services, information, or other material purchased or obtained by you through the Service will meet your expectations, or (v) any errors in the technology will be corrected.

And you are solely responsible for any damage to your computer system or loss of data that results from the download of any such material. No advice or information, whether oral or written, obtained by you from Shari Finance through or from the Service will create any warranty not expressly stated in these Terms and Condition.

The lenders registering on this website "Lenders" are advised to astutely assess all apparent risks and expected benefits before investing. sharifinance.com is a marketplace that carefully assesses and list borrower (s) profiles for all types of investor(s) with varying risk appetites.

sharifinance.com highlights all relevant details for every borrower, however, decision of investment solely rest with the Lenders.

Terms and Conditions for Shari Finance Referral Program

  • Offer valid only for Shari Finance Investors who have disbursed amount of greater than or equal to $ 25,000
  • Payout to be calculated on the cumulative Amount disbursed by all the referred investors on a monthly basis
  • Invoicing and payouts will be done on a monthly basis
  • Payout will be calculated on the referred investor's first two months of activity only. Post two months from the activation date, the disbursals by the referred investor would not be eligible for any Payout
  • Invoicing of payouts will be done by the end of calendar month. Payment will be done within 5 working days after the invoice
  • Investors can refer as many investors as possible
  • Immediate family members would NOT be eligible for this referral
  • Limited period offer, Shari Finance at its sole discretion can take down or change this offer without prior notice