Terms & Conditions of Using the ProtectPay Platform

  1. Once a User has accepted these Terms and Conditions, he/ she may register and avail the Services.
  2. These Terms of Using the ProtectPay Platform operated by Ncome Tech Solutions Pvt Ltd  (“Terms of Using the ProtectPay Platform” or “Agreement”) shall serve as an agreement that sets forth the terms and conditions which will govern your use and participation in the transaction management and digital escrow services provided on and through ProtectPay (the “Services”). By selecting to utilize the Services you shall have also indicated your acceptance of these Terms of Using the ProtectPay Platform and your intent and agreement to be bound by them. If you are unwilling to agree to these Terms of Using the ProtectPay Platform, you shall discontinue further use of the Services.
  3. The User will be required to login his/ her own User ID and Password, given by Protect Pay to register and/ or use the Services provided on the Website. By accepting these Terms and Conditions the User agrees that his/ her User ID and Password are very important pieces of information and it shall be the User’s own responsibility to keep them secure and confidential. In furtherance hereof, the User agrees to;
  4. Choose a new password, whenever required for security reasons.
  5. Keep his/ her User ID & Password strictly confidential.
  6. Be responsible for any transactions made by User under such User ID and Password.
  • If you agree to these Terms of Using the ProtectPay Platform, you will be bound as follows:
  1. Definitions – “Account” means (i) an account of a Buyer from which payment for the Transaction and related fees will be obtained, (ii) an account of a Seller to which payment for the Transaction and other payments will be credited. “Agreement” refers to this Agreement, the then-current operating rules contained on the Site and the Transaction Escrow Instructions. “Transaction Detail Screens” means those screens on the Site where Users provide all requested information in connection with a Transaction. “Escrow Instructions” or “General Instructions” means the document on the Site that contains the terms agreed upon on the Transaction Detail Screens, as well as the other terms and conditions of the escrow transaction including these Terms of Using the ProtectPay Platform, all incorporated in this terms and conditions. “User” means Buyer(s), Seller(s), and/or Broker(s) participating in a Transaction. “Site” refers to the website for the Services which can be found at www.ProtectPay.in 
  1. Description of the Service – The Service is Internet-based transaction, management services performed by ProtectPay, and escrow services provided by Bank. Ncome Tech Solutions  Pvt Ltd ((hereinafter referred to as PROTECTPAY)” acts as escrow agent in a Transaction, which Services are intended to facilitate the completion of the underlying transaction under the terms of this Agreement, the Site, and the applicable Transaction Escrow Instructions.
  1. Limits on the Services – The Services are only available for lawful items and items not otherwise excluded by Section 4 below. Limitations on the Services may apply and can be found on the Site or Transaction Escrow Instructions. Only registered users may use the Services. In order to register, you must supply all information required on the Site. Applicable state or federal laws and regulations may further limit the Services.
  1. Prohibited Transactions – Users shall not utilize the Site or the Services in connection with any Transaction that is illegal or involves any illegal items, or is for any illegal purpose; involves any obscene material; involves  ammunitions or firearm; involves pirated software, DVD or videos or item(s) otherwise infringing copyrighted works; involves illegal drugs or controlled substances; involves real property or any interest in real property, the sale or transfer of liquor licenses, the sale of a business (bulk sale), the transfer of title to a business entity, fund or joint control escrows, mobile homes or manufactured homes or the refinancing of either, reservation deposits of any kind, or promissory notes, mortgages or deeds of trust; or involves transactions directly or indirectly involving persons (individuals or entities) with whom Indian Govt does not permit any business or personal transactions Or those persons who are prohibited from engaging pursuant to sanctions and export controls administered by the concerned Departments of Govt of India or any of the State Govts, or involves transactions directly or indirectly involving persons (individuals or entities) with whom Govt of India prohibits and business or personal transactions and persons who are prohibited from engaging pursuant to laws and regulations administered by the concerned Departments of Govt of India and various State Governments and the applicable Laws, Rule and Regulations applicable in India. Also, ProtectPay, in its sole discretion, may refuse to complete any Transaction that ProtectPay has reason to believe is unauthorized or made by someone other than you, may violate any law, rule, or regulation, or if ProtectPay has reasonable cause not to honor it. Each User agrees to indemnify and hold ProtectPay harmless for losses resulting from any use or attempted use of the Services in violation of this Agreement.
  1. Rejection of Payment – Since the use of a bank account, credit card, or debit card account, or the making of an electronic funds transfer may be limited by your agreement with your financial institution and/or by applicable law, ProtectPay is not liable to any User if ProtectPay does not complete a Transaction as a result of any such limit, or if a financial institution fails to honor any credit or debit to or from an Account. ProtectPay may post operating rules related to payment on the Site and change such rules from time to time.
  2. Server Slow Down/Session Timeout: In case the Website or Payment Service Provider’s webpage, that is linked to the Website, is experiencing any server related issues like ‘slow down’ or ‘failure’ or ‘session timeout’, the User shall, before initiating the second payment, check whether his/her Bank Account has been debited or not and accordingly resort to one of the following options:
  3. In case the Bank Account appears to be debited, ensure that he/ she does not make the payment twice and immediately thereafter contact   ProtectPay via e-mail or any other mode of contact as provided by the Institute to confirm payment.
  4.  In case the Bank Account is not debited, the User may initiate a fresh transaction to make payment.
  5. However, the User agrees that under no circumstances the Protect Pay as a Service Provider shall be held responsible for such fraudulent/duplicate transactions, and hence no claims should be raised to Protect Pay.
  6. Although all reasonable care has been taken towards guarding against unauthorized use of any information transmitted by the User, Protectpay does not represent or guarantee that the use of the Services provided by/ through it will not result in theft and/or unauthorized use of data over the Internet. However abundant safeguards and state of art antivirus and anti-hacking technology are being used, and chances of such misuse in almost zero.
  7. Protect Pay, shall not be liable, at any time, for any failure of performance, error, omission, interruption, deletion, defect, delay in operation or transmission,  communications line failure, theft or destruction, or unauthorized access to, alteration of, or use of the information contained on the Website.

  8. General Conditions of Use – If you arrive at the Site through entities linked and/or integrated with ProtectPay or otherwise by or through a third party (e.g., an auction, exchange, or Internet-based intermediary that hosts electronic marketplaces and mediates transactions among businesses), then you authorize such third party to transfer relevant data to ProtectPay to facilitate the Transaction. You represent and warrant that all information you provide to ProtectPay or such third party will be true, accurate, and complete. The party entering into this Agreement on behalf of any User represents and warrants that he/she is authorized to do enter into a valid contract in terms of India Laws and to bind the User and is a natural person of at least eighteen (18) years of age. In order to initiate and commence a Transaction, all Users to a Transaction must register at the Site, agree to all terms in the General Escrow Instructions and agree to the Transaction Escrow Instructions.
  9. Obligations of Sellers – On the Transaction Detail Screens, each Seller to a Transaction must designate an Account to which payment for the Transaction will be made. Each Seller authorizes ProtectPay and its authorized agents to initiate credit entries to such Seller’s Account for payment of the purchase price, or applicable balance due, and to debit Seller’s Account to discharge Seller’s obligations. Each Seller in a Transaction shall deliver the items outlined in Transaction Detail Screens directly to the Buyer (or Buyers), at the address specified by such Buyer as shown on the ProtectPay website and the terms and conditions outlined in the terms and conditions. Seller shall use a delivery service that confirms delivery and Seller shall provide ProtectPay with a tracking or reference number for the shipment of the goods. The seller gives ProtectPay permission to act as its authorized agent in communicating with the shipping company regarding the notice of the delivery of the goods. In the event ProtectPay does not receive notice of shipment from Seller within ten (10) calendar days of notification from ProtectPay’s notice to Seller to ship the items, Seller authorizes ProtectPay to return the escrowed funds (excluding ProtectPay fees) to Buyer. In the event of a return of the items by Buyer, Seller shall notify ProtectPay of the receipt of the returned items. Upon receipt of such notice from Seller, the Seller’s five (5) day inspection period shall commence. In the event Seller accepts the returned items within the inspection period or fails to act within the inspection period, ProtectPay shall remit the escrowed funds (excluding ProtectPay fees) to Buyer. If Seller notifies ProtectPay of its non-acceptance of any returned items within the Seller’s inspection period, then ProtectPay will retain the escrow funds pending resolution of the dispute or take other action as authorized. Notwithstanding anything to the contrary above, if all Users to a Transaction agree on the Transaction Detail Screens that there is no shipping required, then no party hereto will have any obligation under this Agreement for shipping. It may be further noted that in case the contract between the buyer and seller does not have an inspection period or the clause about receipt of goods before initiation of refund, in that case also the Seller needs to notify Protect Pay to initiate a refund and in the absence of the above, the refund shall be initiated as per the terms mentioned in this clause.
  10. Obligations of Buyers – On the Transaction Detail Screens, the Buyer must designate a payment mechanism and an Account from which the purchase price and related fees (unless such fees are to be paid by Seller) will be obtained for the deposit into escrow. Depending on the amount of the Transaction and the currency selected for the Transaction, the Buyer may remit the necessary funds via various methods, which may include corporate credit card, debit card, UPI, Internet Bank Account or purchasing card, cheque, Pay Order, money order, or wire transfer. In the case of wire transfers, the Buyer will initiate the wire to an account designated by ProtectPay on or before the date outlined in the Transaction Detail Screens. Regardless of the payment method, Buyer authorizes ProtectPay and ProtectPay authorized agents to initiate credit or debit transactions, as applicable, to obtain the purchase price and fees due for a Transaction and to initiate any debit or credit entries or reversals, as the case may be, as may be necessary to correct any error in a payment or transfer and to discharge  Buyer’s obligations under Section 22 of this Agreement. ProtectPay will deposit funds received from Buyer into an escrow trust account maintained by ProtectPay (the “Escrow Account”). Unless otherwise requested as specified in the following sentence, escrowed deposits do not earn interest for Buyer or Seller. The buyer shall notify ProtectPay of the Buyer’s acceptance or rejection of the items before the Buyer’s Inspection Period expires. Upon receipt of notice from Buyer that the items have been received and accepted, ProtectPay shall transfer the payment amount (less any amount payable to ProtectPay for ProtectPay fees) to Seller’s Account. Transfer to a Seller generally will be initiated within the next business day from the day on which notice of acceptance of the items is received from the Buyer. If Buyer has not notified ProtectPay of the non-receipt or rejection of the items during the Buyer’s Inspection Period, then the Buyer authorizes ProtectPay to remit the escrowed funds (excluding ProtectPay fees) to the Seller. The buyer shall follow the procedures set forth on the Site in the event the items are rejected.
  11. Obligations of Brokers ( only applicable in the transaction where Broker has been accepted and approved by the Buyer and the Seller, or as approved by the common practice or law) – On the Transaction Detail Screens, each Broker to a Transaction must designate an Account to which the Broker Fee payment will be made. Each Broker authorizes PROTECTPAY and its authorized agents to initiate credit entries to such Broker’s Account for payment of the Broker’s commission and to debit the Broker’s account to discharge the Broker’s obligations. Each Broker in a Transaction shall provide Buyer email, Seller email, and Transaction details including purchase price, merchandise description, inspection period, and which party is responsible for the Broker and Escrow fees.
  12. Our Responsibilities – ProtectPay is obligated to perform only those duties expressly described in this Agreement and the Escrow Instructions. ProtectPay shall not be liable for any error in judgment, for any actions taken or not taken, or for any mistake of fact or law, except for gross negligence or willful misconduct (subject to the limitations in Section 17 below). ProtectPay may rely upon any notice, demand, request, letter, certificate, agreement or any other document which purports to have been transmitted or signed by or on behalf of a User indicated as the sender or signatory thereof and shall have no duty to make any inquiry or investigation. In the event that ProtectPay is uncertain as to ProtectPay duties or rights under this Agreement, receives any instruction, demand or notice from any User or financial institution which, in ProtectPay’s opinion, is in conflict with any of the provisions of this Agreement, or any dispute arises with respect to this Agreement or the Escrowed Funds, ProtectPay may (i) consult with counsel of our choice (including our partner trusteeship company) and any actions taken or not taken based upon advice of counsel shall be deemed consented to by you, or (ii) refrain from taking any action other than to retain the funds in escrow for delivery in accordance with the written agreement of the Users, the final decision or award of an arbitrator pursuant to an arbitration commenced and conducted in accordance with the  Escrow Instructions or a final, non-appealable judgment of a court of competent jurisdiction, or (iii) discharge our duties under this Agreement by depositing all funds by interpleader action with a court of competent jurisdiction in accordance with the procedures outlined in the General Escrow Instructions.

ProtectPay may, at any time, give notice of ProtectPay’s intent to resign as Escrow Agent. If within thirty (30) days of such notice ProtectPay has not received notice from all Users in a Transaction that they have designated a substitute escrow agent (which notice shall identify the substitute escrow agent), ProtectPay may discharge ProtectPay duties under this Agreement by depositing all escrowed funds with a court of competent jurisdiction. If an alternate Escrow Agent is so designated, ProtectPay shall be discharged from ProtectPay duties under this Agreement, the General Escrow Instructions, and the Transaction Escrow Instructions by delivering all escrowed funds to such person or entity. Upon payment of the escrow funds according to this Agreement, ProtectPay shall be fully released from any liability and obligations with respect to the escrow funds and the Transaction.

  1. Canceling a Transaction – If a Transaction cannot be completed for any reason, including cancellation by ProtectPay for any reason, ProtectPay will notify each User in such Transaction by e-mail, to the e-mail address each has provided to ProtectPay. In ProtectPay’s sole discretion, ProtectPay may cancel any Transaction if each User to a Transaction fails to agree on the terms as required in the Transaction Details Screens by clicking the “Agree” button as requested on the Site. You may cancel a Transaction as provided in this Agreement, on the General Escrow Instructions or in the Transaction Escrow Instructions.
  2. Questions about the Services – You may inquire about payments made through the Service by calling the toll-free number that appears on the Site or by filling out the customer service form. If you believe an error has been made or there has been any unauthorized use of your Account or the Services, you agree to call or send an e-mail as soon as possible, but no later than forty-eight hours after you became aware of an error. When you contact ProtectPay, please be prepared to provide your name, ProtectPay reference number, and your email address you have registered on the ProtectPay site.
  3. Statements, Verification – You agree that all disclosures and communications regarding this Agreement and the Service shall be made by e-mail or on the Site, unless the parties make other arrangements as outlined in the General Escrow Instructions.
  4. Digital Identification – You understand and agree that ProtectPay will create, issue, and verify a digital identification (a “Digital ID”) for each User. This Digital ID is attached to each accepted electronic document and notification e-mails. You agree that your Digital ID is a valid “Electronic Signature.” Please review the General Escrow Instructions for more information about ProtectPay’s use of the Digital ID.
  5. Fees – Unless otherwise agreed upon by each User in the Transaction, Buyer agrees to pay the fees for the Services that are disclosed on the Site at the time the completed Transaction Escrow Instructions are agreed to by all such Users, as well as any other fees, including, without limitation, third party service fees (e.g., shipping, appraisal, inspection, etc.). Once paid, ProtectPay fees are nonrefundable. ProtectPay fees may change from time to time in ProtectPay’s absolute and sole discretion. ProtectPay is not responsible for payment of any sales, use personal property, or other governmental tax or levy imposed on any items purchased or sold through the Services or otherwise arising from the Transaction.
  6. Security – ProtectPay uses a secure sockets layer (“SSL”), a security protocol that provides data encryption, server authentication, and message integrity for connections to the Internet to ensure that the data you provide ProtectPay is not transmitted over the Internet unencrypted and cannot be viewed by unauthorized individuals. ProtectPay has also implemented a security system requiring a user ID and a password to access your transactions on the Site. You agree not to give your password to any other person or entity and to protect it from being used or discovered by anyone else.
  7. Disclaimers – You expressly agree that your use of the Services is at your sole risk. The Services are provided on a strictly “as is” and “as available” basis. ProtectPay MAKES NO WARRANTY WITH REGARD TO THE UNDERLYING TRANSACTION, ANY ITEMS OBTAINED BY YOU THROUGH THE USE OF THE SITE OR THE SERVICES, THAT THE SERVICES WILL MEET YOUR REQUIREMENTS, OR THAT THE SERVICES OR THE SITE WILL BE UNINTERRUPTED, TIMELY, OR ERROR-FREE.

ProtectPay expressly disclaims any express and implied warranties, including, but not limited to, the implied warranties of merchantability, fitness for a particular purpose, and non-infringement. ProtectPay shall not be liable or responsible for those guarantees, warranties, and representations, if any, offered by any Seller of items. No advice or information, whether oral or written, obtained by you from ProtectPay or through the Services shall create any warranty not expressly made herein

You acknowledge and agree that ProtectPay does not endorse the website of any third party, or assume responsibility or liability for the accuracy of any material contained therein, or any infringement of third party intellectual property rights arising therefrom, or any fraud or other crime facilitated thereby. In no event will ProtectPay be liable for any act or omission of any third party, including, but not limited to, your financial institution, any payment system, any third-party service provider, any provider of telecommunications services, Internet access or computer equipment or software, any mail or delivery service or any payment or clearinghouse system or for any circumstances beyond ProtectPay’s control (including but not limited to, fire, flood or other natural disasters, war, riot, strike, terrorism, an act of civil or military authority, equipment failure, computer virus, infiltration or hacking by a third party, or failure or interruption of electrical, telecommunications or other utility services).

  2. Termination of Services – ProtectPay may suspend or terminate your use of the Services at any time, without notice for any reason, in ProtectPay’s sole discretion. Except as warranted by risk to the security, privacy, or integrity of the Services, ProtectPay will attempt to provide you with prior notice of the suspension or termination of the Services by sending you an e-mail, but ProtectPay is not obligated to do so. You shall remain liable for all Transactions you initiate through the Services before such termination, and the performance of your obligations, including but not limited to, the delivery of the items and the payment of all amounts you owe before termination or discontinuation of your use of the Services. You agree to pay all costs and expenses (including reasonable attorneys’ fees) that ProtectPay may incur to (a) collect any amounts you owe under this Agreement, the Terms & conditions, or the Transaction Escrow Instructions or (b) to initiate an arbitration or judicial proceeding to resolve a dispute between Buyer and Seller, as outlined in the Terms & conditions.
  3. Non-Transferability of the Services – You may not assign this Agreement or the Escrow Instructions to any other person or entity. Your right to use the Services shall not be sold or transferred to any other person or entity without the prior written consent of ProtectPay. ProtectPay may assign this Agreement upon notice to you. Any assignment or transfer in violation of this provision shall be null and void.
  4. Modifications – ProtectPay reserves the right to change this Agreement, or any portion of it, at any time, without prior notice, provided that no such change will apply to a Transaction once the Users to such Transaction have agreed to the Transaction Escrow Instructions. You understand that the most recent version of this Agreement will be located on the Site.
  5. Notices – Notices from ProtectPay to you will be given by e-mail, or by general posting on the Site. You may contact ProtectPay by filling out the customer support form or such other email address as ProtectPay posts as its address for notice on the Site in the most recent version of the Terms of Using the ProtectPay Platform
  6. Indemnification – You agree to indemnify and hold ProtectPay, ProtectPay affiliates, and their respective officers, directors, shareholders, employees and assigns, harmless from any claim, demand, expense, or damage, including reasonable attorneys’ fees and court costs, arising from or relating to your use of the Services or any violation of this Agreement, the rules contained on the Site or the Transaction Escrow Instructions, including, without limitation, payment of ProtectPay fees and any chargebacks from a card organization or reversal or nonpayment of any credit or debit entry.

#. Miscellaneous – In the event of any dispute, claim, question, or disagreement arising from or relating to, this Agreement or to the Underlying Transaction, or breach of any of them, you agree to resolve such dispute in the manner outlined in the  Escrow Instructions given in the site. This Agreement shall be governed by the laws of the Union of India. Any dispute shall be resolved under the Dispute Resolution and Governing Law/Venue provisions of the General Escrow Account Rules applicable in a Banking Transactions or the specific Escrow Agreement entered between ProtectPay (Ncome Tech Solutions Pvt Ltd) and any of the transacting parties, in special cases.  This Agreement in conjunction with the Terms & Conditions and rules contained on the Site constitutes the entire agreement between ProtectPay and you relating to the subject matter hereof and supersedes all prior or contemporaneous understandings, agreements, communications, and/or advertising with respect to such subject matter. If there is a conflict between the terms and conditions of this Agreement, the rules contained on the Site, and/or the Terms & Conditions, then the conflicting terms outlined in the Terms & Conditions shall control first, these Terms of Using the ProtectPay Platform shall control second and the rules contained on the Site shall control third. The Terms & Conditions are incorporated herein by this reference. ProtectPay’s failure to exercise or enforce any right or provision of this Agreement shall not constitute a waiver of such right or provision unless acknowledged and agreed to by ProtectPay in writing. If any term or other provision of this Agreement is invalid, illegal, or incapable of being enforced by any law or public policy, all other terms and provisions of this Agreement shall nevertheless remain in full force and effect for so long as the economic or legal substance of the transactions contemplated hereby is not affected in any manner materially adverse to any party hereto.

ProtectPay may assign this Agreement to any current or future affiliated company and any successor in interest. ProtectPay also may delegate certain of ProtectPay rights and responsibilities under the Agreement to independent contractors or other third parties.

If you are a registered User of the Site, then each time you request the Services will constitute your agreement to these Terms of Using the ProtectPay Platform, as amended from time to time in ProtectPay’s sole discretion, and evidence that you have read understood and accepted the then applicable Terms of Using the ProtectPay Platform.

If any dispute arises between a user/users and PROTECTPAY arising out of use of the website or thereafter, in connection with the validity, interpretation, implementation or alleged breach of any provision of these terms and conditions, the dispute shall be referred to a sole Arbitrator who shall be an independent and neutral third party identified by PROTECTPAY. Decision of the Arbitrator shall be final and binding on both the parties to the dispute. The place of arbitration shall be Delhi. The Arbitration & Conciliation Act, 1996, shall govern the arbitration proceedings.

THIS AGREEMENT between you and PROTECTPAY governs your use of protectpay.in. If any provision of these terms and conditions or part thereof is inconsistent with or is held to be invalid/void by or under any law, rule, order or regulation of any Government or by the final adjudication of any court, such inconsistency or invalidity shall not affect the enforceability of any other provision of the terms and conditions.

The failure of PROTECTPAY to exercise or enforce any right or provision of the terms and conditions of use shall not constitute a waiver of its right to enforce such right or provision subsequently.

By accessing protectpay.in you agree that the laws prevailing in India shall be the governing laws in all matters relating to protectpay.in as well as these terms and conditions.

Courts at New Delhi, India alone shall have the exclusive jurisdiction in all matters relating to protectpay.in and these terms and conditions, irrespective of the territory and jurisdiction of your access to protectpay.in.

PROTECTPAY does not routinely monitor your postings to the web site but reserves the right to do so. However, if PROTECTPAY becomes aware of an inappropriate use of protectpay.in or any of its Services, PROTECTPAY will respond in any way that, in its sole discretion, PROTECTPAY deems appropriate. You acknowledge that PROTECTPAY will have the right to report to law enforcement authorities any actions that may be considered illegal, as well as any information it receives of such illegal conduct. When requested, PROTECTPAY will co-operate fully with law enforcement agencies in any investigation of alleged illegal activity on the Internet.

PROTECTPAY reserves all other rights.

Please report any violations of these terms and conditions to PROTECTPAY at [email protected]