| 1 |
The user authorizes the bank to make payment of Utility
Bills / donations / subscriptions / transfer of funds
for purchase of utility products / services raised upon
him by any company offering Utility Services (hereinafter
referred to as "billing company") where the
Bank is entered into a collection arrangement, through
Direct Pay Service provided by the Bank, under debit
to his accounts, on receiving payment instructions from
him. |
| 2 |
The user understands and agrees that the Bank may offer
this service directly or through any other partner agency. |
| 3 |
The
User shall furnish the required information as specified
by the billing company and other essential data pertaining
to the Bills so as to identify the same. The user agrees
that such data may be used for forwarding the payment
to the billing company by the Bank / partner agency. |
| 4 |
The User shall not hold the Bank liable for:
 |
such
transactions that are carried out on their instructions
done in good faith. |
|
not carrying out such instructions where the Bank
has reason to believe that the instructions are
not genuine or are otherwise improper, unclear,
vague. |
|
any
loss or damage incurred or suffered by the user
due to any error, defect, delay failure or interruption
in providing the Direct Pay services arising from
or caused by any reason whatsoever. |
|
withdrawing / suspending the facility wholly /
partially without prior notice to the user. |
|
| 5 |
The record of the instructions given and transactions
with the Bank kept either in electronic form or otherwise
shall be binding on user and the same shall be conclusive
proof for all purposes and can be used as evidence in
any proceedings. |
| 6 |
The user agrees that all transactions that necessitate
processing by the Bank / Billing company will be carried
out only during business hours and the value dates,
if any will be within the operating hours/ days decided
by the Billing Company/ Bank. |
| 7 |
The
user shall be liable to pay service charges to the Bank,
as fixed by the Bank from time to time for the Direct
Pay services availed by the User and the Bank can debit
such charges to the account of the customer at its discretion. |
| 8 |
The
User shall ensure that there would be sufficient funds/
clear balance or pre-arranged credit in his account
from time to time for effecting the transactions. The
Bank shall not be liable for any consequences arising
out of non-compliance of instructions due to inadequacy
of funds and that the Bank can, at its sole discretion
decide to carry out the instructions notwithstanding
such inadequacy. The Bank may do the aforesaid without
prior approval from the User and User shall be responsible
to repay with interest at maximum lending rate the resulting
overdraft, advance thereby created inclusive of all
related charges arising thereby. |
| 9 |
In
the event of an account being overdrawn the Bank reserves
the right to set off this amount against credit lying
in any of the accounts of the User without giving prior
notice to the User. |
| 10 |
The
User shall indemnify and keep the Bank indemnified from
and against all actions, claims, demands, proceedings,
cost, charges and expenses whatsoever which the Bank
may at any time incur, sustain, suffer or put to as
a consequence or by reason of or arising out of providing
the user the Direct Pay facility or by reason the Bank
in good faith refuses to take or omit to take action
on the instructions of the User / technical snags. |
| 11 |
The Bank can terminate
the Direct Pay services granted without prior notice on
occurrence of any of the following events:
|
Non
compliance of the terms and conditions set for |
|
Non compliance of any other agreement entered
into with the Bank |
|
Death,
insolvency and Bankruptcy of the User |
|
Any other cause arising out of operation of law |
|
| 12 |
The
Bank is at liberty to withdraw at any time the Direct
Pay Facility or any service rendered to the User, in
respect of any or all the accounts without assigning
any reason whatsoever, without giving the User any prior
notice. |
| 13 |
The
User should ensure to pay the amount (exact /lesser/in
excess) due as per the bill and in accordance with the
billing company / bank’s instructions before the
expiry of the due date thereof and failing which he
holds the bank harmless against the consequences thereof
including in particular the non-payment of bill amount
/ any penalties levied by the billing company. |
| 14 |
Any
disputes on bill details will be settled directly by
User with the billing company and the bank's responsibility
is limited to provision of information only. |
| 15 |
The
user may request for termination of the service any
time by giving a written notice of at least “3”
working days to Kotak Mahindra Bank. The termination
shall take effect on the completion of the “3rd”
working day. The user will remain responsible for any
transactions made through the service until the time
of such termination. Kotak Mahindra Bank may withdraw
or terminate the Direct Pay facility anytime either
entirely or with reference to a specific service or
user; or in case of breach of Terms by the user without
a prior notice; or if it learns of the death, bankruptcy
or lack of legal capacity of the user or for any reason
whatsoever. |
| 16 |
The
Bank shall take reasonable care to ensure the security
of and prevent unauthorized access to the Direct Pay
service using technology reasonably available to the
Bank. |
| 17 |
The
user shall not use or permit to use Direct Pay facility
or any related services for any illegal or improper
purposes. |
