CUSTOMER SERVICE AGREEMENT

The Customer Service Agreement (Hereinafter referred to as the “Agreement”) is entered into on the date and time as mentioned below; between 

Credit Repair Services Pvt. Ltd., a company formed and registered under the provisions of the Companies Act, 1956, having its registered office at No. 257, DDA Commercial Complex-I, Jhandewalan Extension, New Delhi - 110055, India and hereinafter referred to as “Credit Repair India” which expression shall include its heirs and assigns and shall constitute the First Party 

AND

You

  • Name:                                                                              , a resident Indian
  • Age
  • Sex
  • Residential Address
  • Correspondence address

(whether an individual representing yourself or a legal person) and hereinafter, referred to as “Client”, which expression shall constitute the Second Party

Credit Repair India and the Client are collectively referred to as Parties and individually as a Party


WHEREAS:

  • Credit Repair India is a credit repair company and is offering its services to improve the Client’s credit worthiness
  • The Client is desirous to improve its credit worthiness and is accordingly willing to receive the services being offered by Credit Repair India in accordance with the terms and conditions as agreed upon hereunder 

THE AGREEMENT WITNESSETH AS UNDER (TERMS AND CONDITIONS-PLEASE READ CAREFULLY):

SCOPE OF SERVICES

  • The Parties agree that the Credit Report Audit and Investigation Service Agreement between Credit Repair India and the undersigned Client is for the purpose of providing the services of purchasing credit report and thereafter conducting its audit/analysis to arrive at a strategy to improve the Client’s credit health.
  • Subject to the terms and conditions of this Agreement and the prevailing laws (if any) that may govern the Services contemplated under Clause “4.c” herein, the Client hereby appoints Credit Repair India to assist the Client to liaison with the concerned Credit Information Companies/ credit institutions/ credit bureaus (Hereinafter referred to as “Credit Bureaus”)  on behalf of the Client, in order to identify the lacunas, mistakes and/or negative remarks, if any, that may be remarked by such Credit Bureaus under the Credit Information Report of the Client generated by it, and to use its best endeavors to rectify the same, thereby enabling the Client to improve his/her Credit Scoring in order to enable him/her to obtain the desired financial assistance from a Credit Institution and also maintain its creditworthiness from time to time for the Client's future requirements. Credit Repair India hereby agrees to render the Services to the Client during the Term of this Agreement on the terms and conditions set out herein.
  • Credit Repair India will make best endeavors for the removal of errors, misrepresentations, or unverifiable information, which appears on the Credit Information Report of the Client.Credit Repair India will liaison with the credit bureaus from which the Client has availed the Credit Facility.

SERVICE FEE

  • The Client understands that there will be a Service Fee (Hereinafter referred to as “Fee”) of INR 3500/- (excluding taxes if any), billed post the agreed and the required services have been delivered to the Client.

TERM OF THE AGREEMENT

  • Credit Repair India in lieu of the Fee agrees to analyze/audit the Client’s credit reports and develop a plan to investigate, validate, delete, correct or change the negative items/ remarks/ comments in accordance with the prevailing laws during the term of this Agreement, which is understood by the Parties to be subsisting for a year from the date of execution of the present Agreement. Subject to the terms mentioned in Clause 6 below, the Parties are free to renew the Agreement after the expiry of the term.

DUTIES AND OBLIGATIONS OF CREDIT REPAIR INDIA

  • Credit Repair India hereby undertakes that the information disclosed by the Client to Credit Repair India pursuant to this Agreement shall be used only for the purposes as contemplated under this Agreement.
  • Credit Repair India shall make its best endeavors to render its Services to the Client and get the desired results for the Client.
  • Subject to the provisions of this Agreement and the client fulfilling its obligations hereunder, Credit Repair India shall render the following Services:
        • Use its best endeavours to improvise and/or rectify the Credit Scoring of Client.
        • Provide advice to the Client in respect to the steps or precautions to be taken to maintain its Credit Scoring from time to time.
        • Liaison with the Credit Bureaus and rectify the Credit Information report and/or Credit Scoring of Client.
        • At all times, during the Term of this Agreement, be compliant to the good industry practices followed by any institution or body performing similar functions or services and all the laws as may be applicable to it from time to time.
        • Review all the credit information provided by the Client during the Term of this Agreement.
        • File necessary letters with the credit bureaus challenging the negative items appearing on the Client's Credit Information report which the Client indicates are inaccurate, incomplete, obsolete, or unverified.
        • Follow-up and review all correspondence received by the Client from the credit bureaus and prepare follow-up strategies accordingly.

The services setout hereinabove in sub-clause 4 (i) to (vii) shall be collectively referred to as "Services".

  • Credit Repair India declares and the Client acknowledges that by way of entering into this Agreement, Credit Repair India is by no means guaranteeing the improvement of the Client's credit history or Credit Scoring or procurement of financial assistance, as both are dependent upon various factors beyond its control .

DUTIES AND OBLIGATIONS OF CLIENT

  • The Client shall provide full co-operation, information, documentation and/or assistance as may be necessary for Credit Repair India to render its Services under this agreement.
  • The Client expressly agrees and undertakes to provide to Credit Repair India all his personal credit information and all such other details as solicited by Credit Repair India from time to time and that the rendering and fulfillment of Services by Credit Repair India is subject to valid, complete and accurate information being provided by the Client to Credit Repair India
  • The Client further agrees that owing to a delay in performance of his/her obligations by the Client, Credit Repair India shall not be liable for the delay in fulfillment of its Services hereunder as a result of the same and the period of such Services shall be automatically extended for such period of delay on the part of the Client.
  • The Client agrees that it shall be his/her responsibility to provide a copy of all the correspondence with the credit bureaus and the credit information report created by such credit bureaus to Credit Repair India from time to time. However, the Client may also expressly request Credit Repair India to procure such reports from credit bureaus on Client's behalf, if the same is permissible under law and by the credit bureaus. The Client also further agrees to promptly notify Credit Repair India of his/her communication with any credit bureaus during the term of this Agreement. 
  • The Client agrees to immediately forward to Credit Repair India all the reports and other documents/communication received by the Client from the credit bureaus. Credit Repair India shall not be responsible and/or liable for any deficiency in Services due to wrong information provided and/or misrepresentation made by the Client to Credit Repair India
  • Subject to the same being permissible under law, the Client shall authorise Credit Repair India as his/her representative to liaison with the credit bureaus on his/her behalf, if necessary, to request an investigation to verify the negative items/remarks in the Client's credit records for the purpose of improvising and/or rectifying it. The Parties shall complete all the formalities and execute all necessary documents as may be necessary for such purpose.
  • The Client hereby acknowledges and undertakes that his/her relationship with Credit Repair India will be fiduciary in nature and on receipt of his/her credit information report from a credit bureaus, he/she shall identify in writing any such negative information which to the best of his/her knowledge is true and accurate so that such items are not disputed with the concerned Credit Institutions.  
  • The Client understands and acknowledges that Credit Repair India is not providing any legal advice to the Client nor is it rendering Services in the capacity of legal advisors. Further, it is expressly agreed by the Client that he/she shall not hold Credit Repair India responsible for any legal action that is taken by any creditor/lender against the Client either prior, during or after the Term of this Agreement. 
  • Immediately notify, Credit Repair India of any change of address.

TERMINATION OF AGREEMENT

  • Either party may terminate the Agreement at any time without assigning any reason whatsoever, but by giving the other party 30 days prior written notice. The Client will be responsible for payment of any “Services” performed by Credit Repair India up to the date of receipt of the notice to cancel such Services or till serving the notice period as the case may be.

POWER OF ATTORNEY

  • By executing the present Agreement to obtain the Services, the Client grants Credit Repair India, during the term of this agreement and for the period for which the Agreement continues to be renewed thereafter, a limited power of attorney.
  • Through the power of attorney, the Client agrees to authorize Credit Repair India, by and/or through its authorized representatives to:
    • Use the Client’s Information provided periodically for provision of Services by obtaining the Client’s credit history and/or other creditor information from credit bureaus, creditors, collection agencies and other holders of Client’s credit reports and other similar records(Hereinafter collectively referred to as “Client’s record holders”);
    • Use Client’s name to send correspondence addressed to the Client’s record holders;
    • Obtain Client’s credit information over the telephone, fax, and or through the internet from the Client’s record holders;
    • To discuss information with any of the Client’s record holders to help resolve a debt if Mediation of a debt is necessary. 
  • The Client understands that the limited power of attorney is valid throughout India for all Client information to be obtained by Credit Repair India in discharge of the Services under the Agreement.
  • The limited Power of Attorney shall run co-terminus with the Agreement and shall be deemed to terminate at the time of termination of the Agreement whether upon expiry of the term of the Agreement or after renewal as the case may be. 

CONFIDENTIALITY

  • Credit Repair India understands the sensitivity of the Client’s credit information and shall take steps to ensure that the collection, processing , collating, recording, preservation, secrecy, sharing and usage of the said information is duly protected against any loss or unauthorized access or use or unauthorised disclosure thereof.
  • Both Parties shall, at all times during the continuance of this Agreement and for a period of one (1) year following its termination (howsoever occasioned) or expiry, keep confidential the contents of this Agreement, as well as all the information disclosed to or obtained by the Parties from each other pursuant to this Agreement. Such confidential information shall be used solely for the purpose of satisfying the obligations set forth in this Agreement.
  • Credit Repair India shall also take requisite steps as it may deem necessary for ensuring and verifying the accuracy and completeness of such information before using the same in relation to the Client. 
  • The provisions of this Clause shall be subject to any information required under a court of law or that available in public domain.

GOVERNING LAW AND DISPUTE RESOLUTION

  • All questions pertaining to validity, interpretation and administration of this agreement shall be determined in accordance with the laws of India.
  • If any dispute arises between the parties the same shall be settled by arbitration as provided in the Arbitration and Conciliation Act, 1996(Hereinafter referred to as the “Act of 1996”) as if the parties to the dispute have consented in writing for determination of such dispute by arbitration and the provisions of the Act of 1996 shall apply accordingly.
  • The arbitration shall take place in New Delhi and shall be conducted in English language.

ENTIRE AGREEMENT

  • This agreement contains the entire agreement of the parties and there are no other promises or conditions in any other agreement whether oral or written. This Agreement supersedes any prior written or oral agreements between the parties. 

NOTICES

  • All notices in relation to the instant Agreement shall be in writing and addressed to Credit Repair India and the Client at the following address: 

Credit Repair India: No. 257, DDA Commercial Complex-I, Jhandewalan Extension, New Delhi - 110055, India.

Client:
-------------------------------------As Specified by you ----------------------------------------

--------------------------------------------------------------------------------------------------------

  • As specified by the client in a letter written to the above specified address of Credit Repair India within 7 days of executing the Instant Agreement. 
  • The “Client” agrees to send, via registered post or any other secure mode of communication with acknowledgement due remarked “Private and Confidential” /, all credit reports and/or correspondence received from credit bureaus and/or creditors to Credit Repair India within five (5) days after the date it is so received. In the event the “Client” does not receive any credit reports or correspondence from the credit bureaus within 60 days after the date of the initial Credit Report Analysis/Audit conducted by Credit Repair India, the “Client” agrees to notify the same to Credit Repair India 

LIMITATION OF LIABILITY

  • Credit Repair India declares and the Client agrees that notwithstanding anything contained in this Agreement, Credit Repair India shall have no liability to the Client, in contract, tort or otherwise, for any indirect or consequential losses, damages, costs, charges, expenses or otherwise, which the Client suffers or incurs arising out of or in connection with the provisions of or subscribing for the Services or use of the information provided by Credit Repair India or any reports or howsoever under or in connection with or incidental to this Agreement or the implementation thereof.

INDEMNITY

  • The Client agrees to indemnify, defend and hold Credit Repair India and its agents, brokers, and employees as well as entities to which it is affiliated to; harmless from and against any losses arising out of or relating to any claim by the Client/ third party inter alia:
    • Due to information provided by the Client to Credit Repair India which is false; and/or 
    • Due to information received by the Client on behalf of Credit Repair India and certified by the Client as true when actually it is false and there are no reasonable means of verifying the same; and/or 
    • Due to non-disclosure by the Client to Credit Repair India that the information sought to be modified/corrected/deleted or added is a subject matter of dispute before any arbitrator or tribunal or court. 
  • For the purpose of the present Agreement “losses” mean all claims, actions, losses, liabilities, damages and costs(including taxes) and all related costs and expenses(including reasonable attorney’s fees and disbursements and costs of investigation, litigation and settlement)
  • Similarly the Client agrees to indemnify, defend and hold Credit Repair India and its agents, brokers and employees harmless from and against any losses arising out of or relating to a claim by a third party against the Client for any act or omission, including the acts and omissions as detailed vide this Clause. 

AMENDMENT

  • The provisions of this Agreement may only be altered, modified or amended by an instrument in writing duly executed by the Parties.  

PARTIAL INVALIDITY

  • If, at any time, any provision of this Agreement is or becomes illegal, invalid or unenforceable in any respect under any law of any jurisdiction, neither the legality, validity or enforceability of the remaining provisions nor the legality, validity or enforceability of such provision under the law of any other jurisdiction will in any way be affected or impaired.

ASSIGNMENT

  • The Parties shall not assign any of their rights under this Agreement to any person/entity.

EFFECTIVENESS OF THIS AGREEMENT

  • This AGREEMENT  shall come into force and effect from the date of execution of this AGREEMENT i.e. XX/XX/XXXX (DD/MM/YYYY)

IN WITNESS WHEREOF, the Parties have executed this Agreement as of the date first above written

SIGNED, SEALED AND DELIVERED by                  

 

________________________________                                     
(Designation)                                                                  
for and on behalf of Credit Repair Services Private Limited                                         

SIGNED AND DELIVERED by                                    
Mr. ______________                                                             

in the presence of:                                                                        

1. _______________
(Name and Address)

 

2. _______________
(Name and Address)

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