Terms & Conditions

TERMS AND CONDITIONS OF BUISNESS Of YES LOANS Pvt. LTD Trading as Settle My Loan.

Definition of terms:

Agreement” means the agreement between you and us made mainly on these terms and conditions of business.

Advocate and Lawyers” means panel of Advocate and Lawyers who are independent entities that work with Yes Loans Pvt. Ltd.

Creditors” means all your unsecured creditors whose details you will provide us with in accordance with in your list of Enrolled Debts.

Settle My Loan (SML)” Is the trading name of Yes Loans Pvt. Ltd., under which the settlement service is provided.

Loan Settlement Service (LSS)” means SML will provide you with a settlement negotiation service based on you having clear funds to pay your creditors the negotiated settlement(s).

Loan Settlement Plan (LSP)” means a plan of saving funds over an agreed period for you to pay your creditors post negotiated settlement(s).

Breathing Space” means giving you the time to save sufficient funds whiles you are enrolled onto the LSP, by assisting you from Creditor’s legal action and harassment.

Types Of Settlement” means the different types of settlement that SML can negotiate with the Creditors and they are One Time Settlement (OTS), Term Settlement also known as On Going Settlement (OGS), OTS & OGS with Credit Clearance, Moratorium Settlement and Reversal Settlement.

Fees” means the fees that we will charge for settlement if you have sufficient funds to immediately to undertake settlement. (in accordance with section 13.1)
For LSP we have fees including but not limited to, Trust account setup, analysis of debts for enrolment, processing, review of documents, marketing, client acquisition, operational costs, negotiations, enrolment costs, legal and Creditor’s call diversion services. (in accordance with sections 13.2 & 13.3).

“Subscription fees” refer to the recurring charges users pay on a monthly basis for continued access to our service or product as outlined in the terms and conditions.
“Total fees” refer to the aggregate amount charged to the client for a service or transaction, encompassing all applicable charges, including but not limited to base fees, taxes, surcharges, and any additional costs incurred as part of the provision of the service or fulfillment of the transaction.”

Period” means the agreed period during which your “Loan Settlement Plan” (LSP) will operate.

Payment Schedule” is the payment schedule of the agreed monthly payments that needs to be made into the LSP.

Enrolled Debts” means the unsecured debts that you have indicated for settlements.

Letter Of Authority” means you will provide us with a letter of authority to act and/or a power of attorney.

Trust Account” means a Bank account which we will open, whereby an entrusted licensed independent third party (Trustee) will manage the account. The Trustee holds and regulates payment of the funds required for the operation of the LSP and LSS. For SML to negotiate on your behalf, you must deposit the settlement funds and/or adhere to a regular schedule of deposits. These funds will be deposited into the Trust account that you and only you will control via the Trustee. Under no circumstances will SML have custody or control of the funds you set aside. (in accordance with section 12).

SML Client Account (SCA)” is the name for the Trust account for the operation of LSS and LSP.

Services” means the services we agree to provide you with under this Agreement.

Business Day” means a day (other than a public holiday) on which banks are open for general business in Mumbai.

Credit Information Report” means the credit information / scores/ aggregates / variables / inferences or reports which shall be generated by Credit Information Companies like Experian;

Credit Score” means the score which shall be mentioned on the Credit Information Report which shall be computed by Experian & other companies.

CICRA” shall mean the Credit Information Companies (Regulation) Act, 2005 read with the Credit Information Companies Rules, 2006 and the Credit Information Companies Regulations, 2006, and shall include any other rules and regulations prescribed thereunder.

Term and Conditions of Business” – (T & C) means these terms and conditions of business.

Us” and “We” mean Yes Loans Pvt. Ltd. trading as Settle My Loan or anyone to whom we transfer our obligations and rights under this Agreement.

You” means you (the person that is enrolled onto LSP and your partner where any of the debts are in joint names.

1. Information Collection, Use, Confidentiality, No-Disclosure and Data Purging

1.1 Yes Loans Pvt. Ltd. trading as Settle My Loan shall access your Credit Information as your authorized representative, and Attorney and Yes Loans Pvt. Ltd. trading as Settle My Loan shall use the Credit Information for limited End Use Purpose consisting of and in relation to the services proposed to be availed by you from Yes Loans Pvt. Ltd. trading as Settle My Loans. We shall not aggregate, retain, store, copy, reproduce, republish, upload, post, transmit, sell or rent the Credit Information to any other person and the same cannot be copied or reproduced other than as agreed herein and in furtherance to CICRA Act.
1.2 The Parties agree to protect and keep confidential the Credit Information both online and offline.
1.3 The Credit Information shared by you or received on by us on your behalf shall be destroyed, purged, erased promptly within 1 (one) Business Day of upon the completion of the transaction/ End Use Purpose for which the Credit Information report was procured.

2. Appointment and Period

You appoint us and we agree to provide the Services (as defined below)

2.1 This Agreement will commence the date we receive the “Letter Of Authority”, the T & C duly signed and your first deposit into the Trust account.
2.2 The day we are notified of your first deposit into the Trust account from you may not be the same day you have received the T & Cs the deposit date will not affect the commencement of your plan or your ability to cancel. This Agreement will continue for the period unless ended earlier by you as set out in the sections detailed below.

3. Services

3.1 The purpose of this Agreement is us to work together to negotiate and settle your unsecured debts. SML will negotiate with your creditors (the “Creditors”) when you have sufficient funds under “Loan Settlement Service” (LSS).
3.2 If you do not have sufficient funds, then you can enrol onto a saving program called Loan Settlement Plan (LSP). You will save sufficient or enrol on to LSP and saved sufficient funds. Only thereafter will SML negotiate with your creditors (the “Creditors”) once clear sufficient funds are deposited to LSP or saved by you.
3.3 SML will negotiate settlement with your Creditors and the Type of Settlement will depend on your circumstances, and on the discretion and policies of the Bank and NBFC.
3.4 SML will present to you settlements suitable to pay off your unsecured, enrolled debts once obtained by SML, for your approval and payment directly to Creditors. SML will be permitted by you to speak with and negotiate your debts with the Creditors. You are responsible to ensure that all debts included in the LSP are unsecured. The only unsecured debts that SML will negotiate for settlement are listed under “Enrolled Debts” in your letter of engagement.
3.5 If you do not have sufficient funds to immediately undertake a settlement, then SML will be able to offer you a Loan Settlement Plan (LSP) to help you save sufficient funds for settlement. Under this plan SML will also provide you with other services to give you the time to save sufficient funds (Breathing Space) and protect you from Creditors legal action and harassment.
3.6 In consultation with you we will produce a Loan Settlement Plan (LSP) by which you can pay off your creditors through a settlement. The LSP is designed for you to make monthly payments into the Trust account which will take account of your Creditors and of our Fees. It will not take account of any matters you have not told us about.
3.7 We will negotiate with your Creditors and attempt to agree settlement terms with them with the intent of eliminating debts to an amount that will enable you to pay the reduced balance as full settlement of all enrolled debts. This agreement will enable LSP to act as and facilitate a meditation platform between you and the creditor. You also understand that LSP will never be an agent for you within the meaning of principal agent relation and shall not be held liable for and on behalf of you as an agent.

4. Complaints

4.1 We take any complaint regarding our practices seriously. Any complaints can be sent in writing to the Complaints Officer at customercare@settlemyloan.in. Your complaint will be acknowledged within 7 working days, and a response to your complaint will be made within 14 days. If you are not happy with the response your complaint will be escalated to the compliance officer and all communication regarding the complaint will only be in writing. You will receive a copy of our Code of Conduct and Complaint procedure. Any Data Access requests must be completed on our company access request form and accompanied by a fee of 500/- Rupees this request must be made in writing only by the data subject.

4.2 To protect us against “troll-like” virulent reviews, often posted solely for vengeance purposes, and false or misleading, inappropriate, or irrelevant reviews. You would need to inform us of your dissatisfaction or complaint and give us the opportunity to re-address it to both of our satisfaction as above. If we are unable to resolve the complaint, arising out of this Agreement then this will be resolved by way of procedure provided in the Arbitration and Conciliation Act, 1996. The Venue and the seat of the Arbitration shall be Mumbai. The Arbitration is to be conducted by a sole Arbitrator appointed by Yes Loans Pvt. Ltd. Thereafter you will be entitled to post a review, prior to this you will be in violation of this provision and would have to pay liquidated damages and Company’s legal fees.

5. Advocates and Lawyers

In respect to any legal matters, our panel of Lawyers will advise you on any legal points in respect to the LSP and legal notices, bounced cheques, power of attorney, Banking Ombudsman, mediation & arbitration hearings. If you thereafter engage our panel of lawyers to deal with attending any hearings related to your legal notices, bounced cheque, Banking Ombudsman, mediation, arbitration & any litigation than the Advocate or Lawyer will inform you of their charges in handling that particular matter.

6. Your responsibilities.

6.1 You must meet the criteria of the SML, LSS and LSP. SML will rely on the accuracy and truthfulness of all information provided by you. You will be responsible to comply with the following items
6.2 You will sign any necessary forms of authority i.e. Letter of Authority (LOA) or Power of Attorney (POA) or any other documents so that we may negotiate and make payments to your Creditors on your behalf:

a. You shall provide complete and accurate information related to the debts to SML in writing.
a. You agree to provide the name, address, telephone number, Email address and last loan statement from each Creditor to SML along with all other information SML deems necessary to assist it in negotiating proper resolution of each Debt.
b. You to promptly provide/ communicate any change in financial position, debt, or any other information which could affect the outcome of debt settlement policy.
c. You shall disclose any pending court cases and litigation.
d. You will fill out and promptly return any papers and questionnaires supplied and/or requested by SML.
e. You shall consider SML’s recommendations regarding any potential settlements.
f. You will alert SML of any material changes to your financial status.
g. You shell pay into the Trust account which will be set up by us for savings funds for SML’s settlement negotiations and for payment of settlement amounts to creditors and LSP fees.
h. Furthermore, you agree to comply with every settlement offer secured by the SML at 50% or below of the enrolled debt amount and expressly authorizes SML to transfer the funds to the Creditor from the Trust account balance. You also agree and authorizes SML to make timely payments to the creditors in accordance with negotiated settlements; and
b. You shall timely pay SML for its fees as described herein and acknowledges that all fees are considered “earned” by SML when paid for services including but not limited to, Account Setup, Analysis of Debts for Enrolment, Processing, Review of Documents, Marketing, Client Acquisition, Operational Costs, Negotiations, Enrolment costs, Legal and Creditor’s call diversion services.

7. Our responsibilities.

7.1 SML will open the Trust account with its banker, for the purpose for you to deposit funds for settlement (LSS) or save funds for SML’s settlement negotiations and for payment of settlement amounts to creditors and LSP fees.
7.2 SML shall hold your personal information in the strictest confidence, except as is necessary during SML performance of this Agreement.
7.3 Specifically, and among other reasons, you authorizes SML to:
(a) disclose to any of the Creditors any information concerning your financial condition and status including, but not limited to, income, debts, credits, earnings, and/or location information; and
(b) obtain necessary financial information concerning you from any of the Creditors. SML will perform the duties described in this Agreement, will keep you reasonably informed of progress in the pursuit of the Agreement’s objectives, and will respond promptly to your inquiries and communications.
7.4 SML may, at its sole discretion, transfer part or all your information to independent support service providers specifically to provide account support, settlement processing, legal and customer service features for your benefit. SML may, at its option, change support service processors from time to time. You agree to cooperate and work with any designated support services.
7.5 SML to disclose every possible outcome of the debt settlement policy and to disclose every risk involved in the debt settlement policy. Both the parties understand and agree to provide the complete and accurate information to each other.

8. Effects of Settlements

8.1 SML does not provide any credit repair or correction services whatsoever, you understand that if you do not make regular payments to creditors or if creditors are unwilling to accept a settlement, added interest, late fees, delinquencies, collection efforts, and legal action could result. Such may also result in a substantial reduction in your credit score and negative credit report.
8.2 If you have chosen not to remain current on your payment obligations, you may lose important benefits of credit, including loans or refinances, or have existing credit revoked and could also end up in RBI’s defaulter list.
8.3 You also understands that you should not enrol debt into program from a lender where you also has other, open and funded accounts. In such situation, lender may take funds from your other accounts to pay your obligations. After complete full awareness and consideration of all these possibilities, you still wish to proceed with the terms and conditions of this Agreement.
8.4 You understands and agrees that in event of non-compliance of LSP and LSS and the obligations assigned gives the right to us to terminate the agreement immediately.

9. Standard Disclosure Statement

Yes Loans Pvt. Ltd., trading as Settle my loan (SML) provides a method of debt resolution known as debt settlement. The following disclosures are to make consumers aware of the advantages and disadvantages of a debt settlement program.

By Initializing each item below, you understand:
9.1 You are enrolling into a debt settlement program after voluntarily seeking assistance from SML. The goal you have set is to develop a plan or not to negotiate mutually agreeable settlements between you and your creditor(s) for payment of certain unsecured debt(s) described as enrolled Debts. While no specific results can be predicted or guaranteed; SML specializes in the process of negotiations and settlement and will work to the fullest to realize your goals.
9.2 In entering into this AGREEMENT, you acknowledge that SML will be undertaking any action solely in its capacity as your Non- exclusive Agent and Attorney-in-Fact pursuant to the terms of this Agreement and the Letter of Authority or related Limited Power of Attorney that you have signed. You acknowledge that SML has not advised you to reduce or terminate payments to your creditors and you have been advised that SML will not take any action that might be construed as interfering with the contractual relationships between you and your creditors.
9.3 In entering into this AGREEMENT, you represent that no enrolled creditor accounts are secured by collateral or cross collateralized with another account or property. Secured debt is debt for which the creditor has collateral in the form of a security interest in personal and/ or real property. Should you fail to make timely payments on a secured debt, the creditor is entitled to repossess the property and sell it. Cross−collateralized debt exists where security has been mortgaged and pledged to a creditor under a document that provides that the collateral not only secures primary obligations such as a property or a car, but also other debt that may include enrolled debt. A creditor may also have the right to offset your enrolled obligations against bank or other accounts maintained by that creditor in your name.
9.4 Most creditors and collectors are likely to negotiate with SML, but SML cannot force the negotiations and cannot force creditors to accept a settlement. Your creditors are likely to continue collection efforts on delinquent accounts while you are enrolled on LSP. SML makes no claim that we will be able to stop these collection activities but will continue to negotiate these accounts throughout the process. In many cases creditors and collectors will negotiate a payment program and /or debt settlement even IF a lawsuit has been filed.
9.5 Your LSP assumes an effort that will continue for many months. The time needed to produce a settlement depends on a number of factor These may include:
(a) The financial hardship,
(b) the age and balance of the accounts that you owe your creditors,
(c) the funds you have available to pay for a settlement and
(d) the willingness of individual creditors to enter into debt settlement negotiations. While no guarantees can be given, generally the quicker you save money the sooner you will be able to reach your goals. However, each settlement must be acceptable to both you and your settling creditor.

9.6 You will be responsible for saving sufficient funds in an account you control to fund debt settlements that SML will endeavour to negotiate on your behalf. You, and only you, will be in control of all settlement funds and under no circumstances will SML have custody or control or access to the funds you set aside to fund debt settlements.
9.7 Since you have voluntarily decided to not make required minimum payments to your creditors you may be breaking the terms of your agreements with them. It is likely your actions will be reported to credit reference agencies (credit bureaus) as late, delinquent, charged−off or past due balances. Your creditor may also raise the interest rate on your account and impose other penalties. Your account balance will continue to grow as your creditor adds accrued interest, late fees, over−limit fees and penalties. After Settlement your creditors are obligated to properly report the status and outcome of the closed and settled account. It is the creditors’ responsibility to properly report these items to the credit bureaus. LSP may have an adverse effect on your credit report and credit score depending on your specific situation.
9.8 The savings plan that you have committed to reach your debt settlement goal is detailed in your Letter of Engagement. Those summaries reflect the projected amount that we have estimated you will need to save to put yourself in a position to reach your goals. Actual settlement amounts, necessary savings and the period required to reach your goal may vary based on creditor actions and other factors that cannot be considered at this time.
9.9 Communications with creditors are handled on a case-by-case basis. In some instances, creditors will be notified immediately of your enrolment. In other instances, SML determines that Settlement negotiations should not begin until several months after you enrolled on LSP.
9.10 To summarize, each case is unique, and results may vary. LSP can be a very effective way to resolve your debt, but it is not a painless process, and no guarantees can be given because the process is subject to factors that neither you nor SML may be able to control. As with any type of debt repayment program, failure to complete a LSP is likely to have negative consequences on your financial situation.

10 What is not included in this Agreement

10.1 You expressly acknowledge that SML do not provide any kind of tax and/or investment advice whatsoever. However, any legal service will be provided by SML panel of Advocates, who are independent entities.
10.2 This Agreement only covers the Debts/Creditors listed in “Enrolled Debts” and only unsecured Debts owed to the Creditors as of the date of this Agreement. Should you desire SML to assist in resolving additional debts or debts arising after the date of this Agreement, you must enter into a separate Agreement, and resolution of such additional debts would be subject to the terms of that separate Agreement. You acknowledge and understands that SML does not provide legal advice. Legal advice or representation must only be provided by an attorney at law from the panel of Advocates of SML. You understand and agrees that SML has not represented that it will advise or assist you in the modification, improvement or correction of any credit entries contained your credit reports, nor that SML can stop all collection phone calls or correspondence.
10.3 You agree that SML does not claim to be able to improve your credit rating or credit report, nor remove any credit reference on your credit report and that SML has no responsibility or obligation for any past, present or future credit rating assigned by any of the Creditors or for any information contained in any credit reporting service.

11. Your right to terminate

11.1 Any notice of termination must be emailed to customercare@settlemyloan.in
1.2 Either party may terminate this Agreement upon thirty (30) day notice to the other. Notice must be provided in writing and sent via email. Following the expiration of your stated refund period, no refunds are provided for fees that have already been collected by SML. In the event of the agreement being terminated.

a) You shall not be eligible for any assistance from SML in any manner.
b) You shall settle all outstanding fees dues with SML.
c) You shall keep the SML indemnified against all claims and losses.

12. Refund Policy
At Settle My Loan (SML), we are committed to providing high-quality debt settlement services. Our refund policy is designed to be transparent and fair, reflecting our dedication to client satisfaction. Below are the terms related to refunds, cancellations, and associated fees.
Right to Cancel & Refund Policy
Either party has the right to terminate this Agreement at any time. Should you opt to terminate this agreement in accordance with this provision, such termination may be executed by dispatching a written notification to mail to: customercare@settlemyloan.in via email within seven (7) days following the execution of the Terms & Conditions or, later, upon receipt of payment (whichever is earlier). It is imperative that requests for refunds be transmitted exclusively via email to the aforementioned email address. Alternative forms of communication, including but not limited to oral discussions or messaging platforms such as WhatsApp, shall not be deemed valid. Refunds shall be disbursed solely in circumstances where the culpability of our entity is unequivocally established. Please be advised that certain circumstances, such as emergencies, or any external help from friends and relatives, may affect eligibility criteria.” We further state that we will deduct 15% of (DI) in case an email for a refund has been sent to us within 7 days of the first payment. Please note that a refund within 7 days of application would only be made in case there was a lapse of services from our end. Please note that if you wish to cancel/terminate our services after the completion of 7 working days we will calculate and deduct our total settlement fees and monthly subscription fees for each month of service enrolled along with the legal action charges and thereafter refund the balance amount post receiving email of refund.
Refund Processing
Upon receiving a cancellation notice, SML will:
Review the request to ensure compliance with our refund policy.
Process eligible refunds within 30 days of receiving the cancellation notice, subject to the deductions specified in this policy.
Issue refunds through the original payment method used by the client, unless otherwise agreed upon.
Contact Information
For questions or requests related to cancellations and refunds, clients may contact SML at customercare@settlemyloan.in.
This policy is designed to be fair and transparent, reflecting our commitment to client satisfaction and trust.

13. Trust Account

13.1 You agree that the Trust account will be opened by SML for you called SML Client Account (SCA).
13.2 The Trust account which we will open for you whereby an entrusted licensed independent third party (Trustee),will manage the operation of the Trust account. The Trustee holds and regulates payment of the funds required for the operation of the LSP. For SML to negotiate on your behalf, you must adhere to a regular schedule of deposits. These funds will be deposited into the Trust account that you and only you will control via the Trustee. Under no circumstances will SML have custody or control of the funds you set aside.
13.3 The entrusted licensed independent third party (Trustee), are not a party to your LSP and does not participate in the management of your LSP.
13.4 You understand that the Trust Account is governed by the terms of this Agreement and the participating Banks, Trust terms of services, disclaimer and privacy policy of the said Bank and that you are bound by all of its terms and conditions.
13.5 You understand that the Trust account when established in accordance with this Agreement, that only you (or SML, or your authorized contact, if any) via the Trustee may authorize deposits to and payments from the Trust account.
13.3 That only you or SML via the Trustee may authorize withdrawal of funds from and/or close your balance any time as provided for in the Agreement.
13.4 You hereby authorize:
(a) that you will periodically making deposit to the Trust account pursuant to the authorization provided below and
(b) periodic disbursements to be made from the Trust account. In this regard, you hereby authorize payment from the Trust account of the fees and charges provided for in this Agreement.
13.5 Should you designate an authorized contact, such designation allows for confirmation of the Trust account information and for receipt of messages regarding the Trust account to the designee.
13.6 PERMISSION TO SHARE DATA: You hereby grant permission to your Lender bank(s), Trust account Trustee and the Sponsor to share information regarding the Trust account and your LSP with one another and with any other party to the extent necessary to facilitate the transactions you authorize on the Trust account and acknowledge that sharing information among these parties is essential to the administration of the Trust account. You understand that the Agreement provides additional information relating to your privacy rights.

14. Fees

14.1 Settlement Fee: From your monthly Disposable Income (DI), we shall deduct a monthly subscription fee for each month of service, along with a one-time charge of 7.5% of your total outstanding (O/S) amount at the time of settlement. Please note that you are obligated to pay any applicable government taxes, which will be deducted from your monthly DI. In the event of notices requiring responses, a subsidized rate of Rs. 499 shall be charged, or you may opt to pay such fees directly. These terms constitute a binding agreement and the user, governing the provision of services and the associated financial obligations. “Failure to remit the subscription fees and notice response charges may result in deductions from the funds held on behalf of the user. Such deductions will be made without prior notice, and the user hereby consents to such deductions as a means of settling outstanding financial obligations. We reserve the right to take appropriate legal action to recover any outstanding amounts owed.

14.2 Service Breakdown: Our fees cover a range of services including, but not limited to:

• Trust account setup
• Trustee fees
• Debt analysis for enrolment
• Document processing and review
• Marketing and client acquisition
• Operational costs
• Negotiations
• Enrolment costs
• Legal services
• Creditor’s call diversion services

Fees specific to Loan Settlement Plans (LSP) will be determined on an individual basis and will be clearly outlined in your payment schedule.

14.3 Fee Allocation: Fees paid to SML compensate us for our services. They are non-refundable, except in cases where they are not deemed earned as specified in this Agreement. It is important to note that these fees are not set aside in the Trust account for debt settlements. Any fees paid to us are exclusively for our services and are not used to pay creditors.

14.4 Legal Fees: We will charge a fee for replying to all legal Notices at a nominal fee of ₹499/- inclusive of GST per reply, and ₹3,540 for attending arbitration and Court hearings. Both fees shall be deducted from your monthly payment on current and/or subsequent month.

14.5 Additionally, you agree that within 30 days of signing the Agreement, Settlemyloan will attempt to effectuate such settlement for all enrolled accounts, and that in the event that you receive an offer directly from your enrolled creditors—whether or not Settlemyloan is aware of it—such an offer will be deemed to be the result of those efforts. With or without your permission, all fees that are accrued may be taken out of the trust account savings.

15. GENERAL TERMS AND CONDITIONS:

15.1 This Agreement sets out the entire understanding between the parties and supersedes all prior agreements understandings or arrangements (whether oral or written) relating to the provision of the Services.
15.2 You acknowledge that you have entered into this Agreement in reliance only on the representations, warranties and promises specifically contained or incorporated in the agreement and except as expressly set out in this Agreement and that we shall bear no liability in respect of any representation, warranty or promise made prior to the start of this Agreement unless it was made fraudulently.
15.3 We shall not be deemed to be in breach of this Agreement or otherwise liable to you if we are prevented from performing our obligations under this Agreement by reason of any event beyond our reasonable control.
15.4 The Governing Law of this Agreement shall be the Substantive law of India.
15.5 Any Dispute arising out of this Agreement shall be resolved as and by way of procedure provided in the Arbitration and Conciliation Act, 1996. The Venue and the seat of the Arbitration shall be Mumbai. The Arbitration is to be conducted by a sole Arbitrator appointed by Yes Loans Pvt. Ltd..
15.6 That all disputes are subject to Mumbai jurisdiction only.
15.7 That you also represent that you have signed the present agreement out of your own free Will and consent without any undue influence or pressure from any side.

16. Dispute Resolution

In the event of any controversy, claim or dispute between the parties arising out of or relating to this Agreement or the breach, termination, enforcement, interpretation, or validity thereof of this Agreement shall only be determined by an Arbitration.

16.1 SML to appoint the arbitrator and the arbitration proceedings shall be governed by the Arbitration Act 1996 or any amendments thereof law of the state of Maharashtra the seat of the arbitration shall be at Mumbai, Maharashtra only.
16.2 The award rendered by the arbitrator shall be final and shall not be subject to vacation or modification. judgment on the award made by the arbitrator may be entered in any court having jurisdiction over the parties.
16.3 If either party fails to comply with the arbitrator’s award, the injured party may petition the circuit court for enforcement.
16.4 The parties agree that either party may bring claims against the other only in his/her or its individual capacity and not as a plaintiff or class member in any purported class or representative proceeding.
16.5 Further, the parties agree that the arbitrator may not consolidate proceedings of more than one person’s claims and may not otherwise preside over any form of representative or class proceeding.
16.6 The parties shall share the cost of arbitration, including attorney’s fees, equally. In the event a party fails to proceed with arbitration, unsuccessfully challenges the arbitrator’s award, or fails to comply with the arbitrator’s award, the other party is entitled to costs of suit, including a reasonable attorney’s fee for having to compel arbitration or defend or enforce the award.

17. Force Majeure.

In the event either party is unable to perform its obligations under the terms of this Agreement because of acts of God, strikes, equipment or transmission failure or damage reasonably beyond its control, or other causes reasonably beyond its control, such party shall not be liable for damages to the other for any damages resulting from such failure to perform or otherwise from such causes.