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VITKARA - Terms & Conditions

Merchant Terms & Conditions

1. Introduction

These Terms & Conditions ("Agreement") govern the relationship between VITKARA ("Company") and the Merchant ("You") who receives funds for business growth. By accepting funds, you accept all terms below.

2. Funding Structure

  • Merchants receive an agreed Principal Amount from VITKARA.
  • Repayment = Principal + agreed ROI of X% (Return on Investment).
  • Repayment mode: Daily deduction via UPI/QR code at an agreed percentage of daily sales (10–30%) until full repayment is completed.

3. Repayment Rules

  • Daily Deduction Mandatory: Merchant must ensure the daily UPI/QR sale percentage is available for automatic deduction.
  • Cash Limitation: Merchant may take a maximum of 20% of total sales in cash; at least 80% of total sales must be processed through UPI/QR to ensure repayment tracking.
  • Early Repayment: Allowed anytime without penalty.
  • Delayed Repayment: Any delay immediately reduces the Merchant's credit rating on VITKARA and may trigger penalties.

4. Obligations of Merchant

  • Funds to be used strictly for business purposes.
  • Maintain daily sales records and submit reports to VITKARA upon request.
  • Provide accurate KYC, PAN, GST, and bank details.
  • Cooperate with VITKARA during inspections, audits, or verification.
  • Notify VITKARA immediately of any significant drop in sales or closure of business.

5. Restrictions

Merchants are strictly prohibited from:

  • Accepting more than 20% of daily sales in cash.
  • Diverting funds to unrelated purposes or third parties.
  • Providing misleading information about sales or business operations.
  • Closing or moving the business without settling VITKARA dues.

6. Default & Penalty

  • Immediate Blacklisting: Merchant will be blacklisted from future funding on first major default.
  • Penalty Charges: A penalty of up to X% of overdue amounts may be charged for delays.
  • Legal Action: VITKARA may initiate legal recovery under Indian Contract Act & Negotiable Instruments Act.
  • Third-Party Recovery Agents: VITKARA reserves the right to engage recovery agencies if dues remain unpaid.
  • Credit Bureau Reporting: Merchant default information may be reported to credit bureaus and online databases.

7. Security & Collateral

  • VITKARA may require post-dated cheques, personal guarantees, or security documents.
  • Merchant agrees to sign necessary agreements or security instruments if requested.

8. Risk & Liability

  • VITKARA does not act as a bank or NBFC.
  • Merchant acknowledges repayment obligations regardless of business performance.
  • Merchant agrees not to dispute repayment unless fraud is proven.

9. Governing Law & Dispute Resolution

  • Governed by the laws of India.
  • Disputes resolved via arbitration in Sitamarhi, Bihar, or local courts if required.

10. Acceptance

By accepting funds from VITKARA, the Merchant confirms they have read, understood, and agreed to these Terms.

Investor Terms & Conditions

1. Introduction

These Terms & Conditions ("Agreement") govern the relationship between VITKARA ("Company") and the Investor ("You") who provides funds for business growth of Merchants onboarded on the VITKARA platform.

2. Investment Structure

  • Investors provide an agreed principal amount to VITKARA to be deployed with Merchants.
  • Investors earn an agreed ROI of X% (Return on Investment) on the invested amount.
  • Payouts are collected from Merchants via daily deductions (10–30% of their daily sales) until full repayment of Principal + ROI is completed.

3. Payout Terms

  • Payouts to Investors occur on a daily basis after VITKARA receives repayments from Merchants.
  • VITKARA will transfer collected repayments (principal + ROI) to the Investor's registered bank account daily.
  • Early withdrawals of investment may be allowed subject to Company policy.

4. Obligations of Investor

  • Provide accurate KYC, PAN, and bank details for compliance.
  • Understand and accept that ROI (X%) is not guaranteed by VITKARA but depends on Merchant performance and repayment.
  • Authorize VITKARA to manage collection and distribution on their behalf.

5. Risk & Liability

  • VITKARA acts only as a facilitator between Investor and Merchant.
  • VITKARA does not provide any guaranteed return unless explicitly stated in writing.
  • In case of Merchant default, VITKARA will take recovery measures but cannot guarantee full recovery.

6. Default & Dispute Handling

  • In the event a Merchant defaults, VITKARA will initiate legal action and recovery processes.
  • VITKARA may apply recovered amounts proportionately among affected Investors.

7. Governing Law & Dispute Resolution

  • Governed by the laws of India.
  • Disputes resolved via arbitration in Sitamarhi, Bihar, or local courts if required.

8. Acceptance

By investing funds through VITKARA, you confirm you have read, understood, and agreed to these Terms.

Platform Terms & Conditions

1. Introduction

These Terms & Conditions ("Agreement") govern your access to and use of the VITKARA platform, website, and mobile applications ("Platform"). By using VITKARA, you agree to comply with these Terms.

2. Scope of Services

  • VITKARA is a technology platform connecting Investors with Merchants for revenue-based funding.
  • VITKARA is not a bank, NBFC, or financial institution. It only facilitates transactions between Merchants and Investors.
  • All investments and repayments are handled as per agreed terms between Merchants, Investors, and VITKARA.

3. Eligibility

  • You must be at least 18 years old and legally capable of entering into a contract under Indian law.
  • Accurate KYC and identity verification is mandatory for both Merchants and Investors.

4. User Responsibilities

  • Provide accurate and complete information during registration.
  • Maintain confidentiality of your account credentials.
  • Use the platform only for lawful business and investment activities.
  • Promptly update any change in your KYC, bank details, or contact information.

5. Financial Transactions

  • VITKARA facilitates payments via UPI/QR, bank transfers, and other permitted modes.
  • All transactions are processed securely. However, VITKARA does not guarantee the performance or repayment ability of Merchants.
  • Any ROI or repayment is based on the terms agreed between Investor and Merchant and is not guaranteed by VITKARA.

6. Fees & Commission

  • VITKARA may charge a service fee or commission on transactions as per its pricing policy.
  • Fees may be deducted from Merchant payouts or Investor returns before disbursement.

7. Risk Disclosure

  • Investments involve risk including possible loss of principal.
  • VITKARA is not responsible for losses due to Merchant default, market changes, or unforeseen circumstances.
  • VITKARA will take reasonable steps for collection and dispute resolution but cannot guarantee full recovery.

8. Prohibited Activities

Users must not:

  • Provide false or misleading information.
  • Use the platform for money laundering or illegal activities.
  • Circumvent VITKARA to deal directly with Merchants/Investors without platform consent.

9. Termination of Access

  • VITKARA may suspend or terminate user accounts for violations of these Terms or applicable laws.
  • Pending obligations must still be fulfilled even after termination.

10. Privacy Policy

  • VITKARA collects and processes personal data as per its Privacy Policy.
  • By using the platform, you consent to this data collection and processing.

11. Governing Law & Dispute Resolution

  • Governed by the laws of India.
  • Disputes will be resolved via arbitration in Sitamarhi, Bihar, or by local courts as applicable.

12. Acceptance

By using VITKARA, you confirm you have read, understood, and agreed to these Terms.