Terms and Conditions
Svobodha Infinity Private Limited (hereinafter referred to as “Company”, “savart”, “we”, “us” or “our”) is engaged into investment advisory services and distribution services and focuses in bringing people close to the market and making it simple and affordable to invest. savart is an AMFI registered distributor of mutual funds and has filed papers for registration as a corporate Registered Investment Adviser.
Please read these Terms and Conditions ("Terms") carefully before using the “Website”, www.savart.in and savart mobile application (“App”), collectively referred as “Platform”. savart would offer investment advisory services (“Advisory Service”) along with the following distribution Services to the Users (“Distribution Services”):
· Suggest portfolio comprising of various investment schemes to meet User’s Goal.
· For KYC Compliant Users, to facilitate subscription and redemption of units by transmitting User’s money and instructions to the appropriate AMC, as per User’s Instructions.
· Maintain a record of User’s personal information and financial transaction in a secured and confidential manner.
· Provide tracking of the investments made by the User through us.
· Provide an ability to undertake Know Your Customer (“KYC”) requirements.
(where Advisory Services and Distribution Services collectively referred as the "Service" or “Services”).
We reserve the right, at our sole discretion, to change, modify, add or remove portions of the Policies, at any time without any prior written notice to you. It is your duty to periodically review these Policies for applicable changes. Your use of the Services even after posting changes to these Policies by us constitutes your acceptance to those changes.
These Terms constitute the entire agreement between the Company and you with respect to the subject matter of these Terms.
By accessing or using the Service, you agree to be bound by these Terms. If you disagree with any part of the Terms then you must not access the Service.
Terms and Conditions for All Users
In order to use the Services, you might be required to provide certain information including but not limited to your name, age, gender, marital status etc. to open an Account (“Account”) with us. While creating such Account, you must provide us information that is accurate, complete, and current at all times. Failure to do so constitutes a breach of the Terms, which may result in immediate termination of your Account on our Service and the Company reserves the right to deny any and all current or future use of the Services.
In case the User is not compliant with SEBI KYC guidelines, either some or all of the following details and documents may be required for the purpose of enrolment and using the Services of savart:
i) Pan Card details
ii) Address Proof
iii) Bank Account Details
iv) Bank Account proof
v) KYC proof
The above provided information/details shall be uploaded by the User in soft copy form on the Platform at the time of enrolment. Once the information is received by savart, savart may co-ordinate with the User, for obtaining self-attested hard copies from the Users. Upon completion of the attestation requirements, the documents shall be provided to the concerned regulatory authority/AMCs or their vendors for the purpose of opening an account for the transaction to be made by the users.
It is your sole duty to keep your Account and password secure and confidential and you are also responsible for safeguarding the access to your mobile or other electronic device that you use to access the Service and for any activities or actions under your mobile device or other electronic device. You shall be held responsible for any losses incurred by savart or any third party user due to unauthorized use of your Account which is a consequence of the user's inability to secure his / her Account and password.
2. Restricted Access
The Company allows individuals who are at least 18 years old to create an Account and to use the Services. You acknowledge that you are 18 years of age or older. Users with age less than 18 years are not allowed to use the Platform and associate Services.
3. Goals, Investment Tools and Model Predictions
Savart shows a selection of various goals (“Goals”), their potential costs and the saving strategy to help achieve these Goals. The prices for these Goals now or in future could potentially change materially from the prices shown on the Platform and savart does not undertake that the saving strategy, if followed, would result in saving sufficient funds to achieve these Goals.
Savart also does not undertake actual purchase of these Goals on behalf of Users. A User would have to undertake the purchase of these Goals on his own. savart does not guarantee availability of these products and/or at the cost mentioned by savart.
Although savart carefully evaluates potential returns based on historic performance, savart makes no representation regarding the likelihood or probability that any actual or proposed account allocation will in fact achieve a particular investment outcome or Goal.
Past performance is not a guarantee of future success, and in fact volatility means that returns in any period may be far above or below those of previous period. savart is unable to predict or forecast market fluctuations or other uncertainties that may affect the value of any investment. While we suggest portfolio with a aim to provide helpful investing guidance, as a self-directed investor, you must carefully consider the appropriateness of the proposed investments in light of your own personal financial circumstances, including cash flow needs, tax circumstances, or other complex or subjective concerns. You are urged to use all available resources to educate yourself about investing in general, as well as the investments and the overall composition of your savart Account.
Additionally, you acknowledge that market conditions and your personal financial circumstances may change from time to time – perhaps suddenly or maybe gradually over time. Monitoring and adjusting your savart Account to suit changing circumstances is solely your responsibility, and it is recommended that you reassess any investing program on a regular basis to ensure that it remains consistent with your current financial resources and investment objectives.
You acknowledge that savart advises you with regard to different investment schemes and products. Investing upon such schemes and products is completely your independent choice and savart shall not be liable, in any manner for your investment decisions.
Savart uses third party sources for part of the data displayed on the Platform or for doing the analysis based on which User is displayed ratings or saving strategies. We do not undertake that all this third party data is accurate and free of errors and we have undertaken sufficient checks to ensure the quality of the data. If the underlying third party data is inaccurate then the displayed data and/or analysis might be materially different from the case when the data is inaccurate.
4. Round up Feature:
Savart deducts to a minimum amount from your account to round off the total bills that you pay to different retail shops via your debit/credit cards. Savart has tie ups with banks due to which we receive a message with regard to usage of your card. For example, if your total bill payable at your retailer shop is Rs. 112/- only, an amount of Rs. 120/- will be deducted from your account, where the additional amount of Rs. 8/- will be transferred to a bank account opened and maintained by savart. This deduction continues till the total balance sums upto Rs. 500/-. Upon the collection of Rs. 500/-, savart will initiate a request you to invest such amount on any investment product or not. This is completely your choice. If you choose to invest, we will advise you the best available options and if not, the amount of Rs. 500/- will be remitted back to your original account.
5. Payment Terms
In lieu of the Services availed by you through savart, savart reserves the right to charge certain fees that shall be communicated to your from time to time during each transaction as mentioned herein below. However, you acknowledge and agree that savart shall charge from you, an amount of Rs. 30/- (Rupees Thirty Only) per month for using the Platform.
Fees in lieu of providing the Services to Users investing below Rs. 5 crore:
a. For mutual fund investments: Savart shall have a right to commissions as paid by its partner AMCs as laid down by SEBI.
b. For stock market investment schemes: savart shall charge from you, an upfront management fee of 1% (one percent) of the investment amount. However, in the event of excess return out of such investments, savart shall charge 10% (ten percent) commission of the excess return as outperformance fee.
For the purpose of this clause, Excess Return shall be calculated as mentioned herein under:
Online payment of fees can be made by credit, debit card and net banking facility. These payments are not collected by savart directly but by the Bank. The online payment system is provided by savart and its third party supplier/s. All prices quoted are in INR. savart reserves the right to change the fees at anytime. We cannot accept liability for a payment not reaching savart account due to you quoting an incorrect account number or incorrect personal details. Neither can we accept liability if payment is refused or declined by the credit/debit card supplier for any reason.
If the card supplier declines payment, savart has the right but no obligation to bring the fact to your attention. You should check with your bank / credit / debit card supplier that payment has been deducted from your account. All payment details which are entered through this payment gateway are encrypted when the user making the payment, enters them. Communications to and from the service provider’s application are encrypted.
savart shall not be liable for any failure by the user making payment of fees to properly protect data from being seen on their screen by other persons or otherwise, obtained by such persons, during the online payment process or in respect of any omission to provide accurate information in the course of the online payment process.
savart does not store or keep credit card / debit card data in a location that is accessible via the Internet. Once a credit card / debit card transaction has been completed, all credit card/debit card data is moved off-line only to ensure that the credit card / debit card information received is not accessible to anyone after completion of the on-line transaction and to ensure the maximum security. savart uses the maximum care as is possible to ensure that all or any data / information in respect of electronic transfer of money does not fall in the wrong hands.
Savart shall not be liable for any loss or damage sustained by reason of any disclosure (inadvertent or otherwise) of any information concerning the user's account and / or information relating to or regarding online transactions using credit cards / debit cards and / or their verification process and particulars nor for any error, omission or inaccuracy with respect to any information so disclosed and used whether or not in pursuance of a legal process or otherwise.
6. Rating of Investment Schemes
Savart undertakes rating of various investment schemes through its own proprietary methodology on a quarterly basis. These ratings are generally displayed to Users as star ratings along with respective investment scheme names in the Platform and are provided for general User guidance on historic performance. These ratings take into account historic performance, volatility of historic returns along with the size of investment schemes historically.
Savart undertakes that the investment scheme rating is not influenced by any compensation received/likely to be received by savart from any third party.
As savart ratings are based on past performance, Users should note that the ratings do not guarantee future performance or risk and User should independently evaluate these schemes. savart makes no representation regarding the likelihood or probability that any actual or proposed investment in these investment schemes will in fact achieve a particular investment outcome or goal. savart also does not undertake to continue with the ratings in future and in case of discontinuation provide a substitute to this Service.
7. License to The Platform/Services
Subject to You complying with these Terms, savart hereby grants to You a limited, revocable, personal, non-sub-licensable, non-transferable, non-exclusive right to access and use the Platform to access the Service in accordance with this Term solely for personal reasons and not for resale or to provide services to third parties. You agree to use the Platform only for its intended purpose, in an authorized manner, and in compliance with all privacy, data protection, intellectual property, and all other applicable laws.
You agree that you shall not involve in any activity with regard to the use of the Platform which might:
a a) Be fraudulent;
b) b) Infringe any third party’s proprietary rights or rights of publicity or privacy;
c) c) be an unauthorized commercial communication (such as spam);
d) d) run any form of auto-responder or spam on the Services; or otherwise take any action in violation of the Policies;
e) e) Bypass, interfere, or attempt to bypass or interfere any actions we may use, to prevent or restrict access to the Services, including without limitation other accounts, computer systems or networks connected to the Services;
f) f) violate any law, statute, ordinance or regulation;
g) g) solicit other users to join, become members of, or contribute money to any online service or other organization, advocate or attempt to get users to join in legal or illegal schemes or plan or participate in scams involving other users;
h) h) attempt to resell, redistribute, broadcast or transfer the information or use the information derived from the Platform in a searchable, machine-readable database;
j) j) contain any viruses, Trojan horses, worms, malicious code or other computer programming routines that may damage, detrimentally interfere with, surreptitiously intercept or expropriate any system, data or personal information;
k) k) create liability for us or cause us to lose (in whole or in part) the services of our ISPs or other suppliers; or
l) l) link directly or indirectly to any materials to which you do not have a right to link to or include; or
m) m) Interfere or attempt to interfere with the proper working of the Services or any activities conducted on the Platform.
8. Your Acknowledgement
Every user shall:
a. Make an informed investment decision by reading the offer documents of the investment schemes that User is investing in.
b. Seek independent financial planning, legal, accounting, tax or other professional advice before investing or withdrawing.
c. Ensure that the information provided or confirmed at the time of Registration on the Platform is true and correct.
In addition to the above, the User confirms, consents and acknowledges the following:
9. Links To Other Web Sites
Clicking on certain links within the Platform or certain other websites that are linked to the Platform may take you to other websites, or may display information on your computer screen from other websites, which may not be maintained by savart. Such websites may contain terms and conditions, privacy provisions, confidentiality provisions, or other provisions that differ from the terms and conditions applicable to the Platform. Links to other Internet services and websites are provided solely for the convenience of users. A link to any service or website is not an endorsement of any kind of the service or website, its content, or its sponsoring organization.
savart assumes no responsibility or liability whatsoever for the content, accuracy, reliability or opinions expressed in a website, to which the Website or App is linked (a “Linked Website”) and such Linked Websites are not monitored, investigated, or checked for accuracy or completeness by savart. It is your responsibility to evaluate the accuracy, reliability, timeliness and completeness of any information available on a Linked Website. All products, services and content obtained from a Linked Website are provided “as is” without warranty of any kind, express or implied, including, but not limited to, implied warranties of merchantability, fitness for a particular purpose, title, non-infringement, security, or accuracy.
10. Website Content
Any Content on the Platform regarding the Services is general in nature, particularly any such content relating to schemes and investment products, and shall not operate nor be construed to be, and is no substitute for the advice provided by a qualified and practicing expert / professional. There is no guarantee of completeness, accuracy, timeliness of such content. You hereby acknowledge that any reliance upon any content shall be at your sole risk.
Savart cannot and does not guarantee or warrant that files available for downloading through the Platform will be free of infection by software viruses or other harmful computer code, files or programs.
The contents of the Platform, such as text, graphics, images and other material including software licensed by savart (“Content”) are protected by copyright under Indian laws, and title to the Content shall not pass to you or any other user. Unauthorized use of the Content may violate copyright, trademark, and other laws. None of the Content shall be reverse-engineered, disassembled, decompiled, reproduced, transcribed, stored in a retrieval system, translated into any language or computer language, re-transmitted in any form or by any means (electronic, mechanical, photo-reproduction, recordation or otherwise), resold or redistributed.
11. Limited Liability
Neither savart nor any other party involved in the creation, production or delivery of the information at the Platform, nor the officers, directors, employees or representatives of savart, are liable in any way for any indirect, special, punitive, consequential, or indirect damages (including without limitation lost profits, cost of procuring substitute service or lost opportunity) arising out of or in connection with the Services, Platform or a Linked Website or with the delay or inability to use the Platform or a Linked Website, whether or not savart is made aware of the possibility of such damages. This limitation includes, but is not limited to, the transmission of any viruses, data or harmful code that may affect your equipment or anyone else’s equipment, any incompatibility between the Platform’s files and your browser, or any failure of any electronic or telephone equipment, communication or connection lines, unauthorized access, theft, operator errors, or any force majeure.
Savart does not guarantee continuous, uninterrupted or secure access to the Platform. The content, accuracy, opinions expressed, and other links provided by Linked Websites are not necessarily investigated, verified, monitored or endorsed by savart. The information, software, products and description of services published on the Platform or a Linked Website may include inaccuracies or typographical errors, and savart specifically disclaims any liability for such inaccuracies or errors. Changes are periodically made to the information on the Platform. savart may make improvements or changes to the Platform at any time without any prior notice to you.
Savart shall not in absence of gross negligence on the part of savart, be liable to user for any act, loss notional or otherwise, omission or delay by the mutual fund or for any claims which user may suffer or incur as a result of or in course or discharge by savart or its employees, officers, directors, nominee or agent of savart’s duties. Without prejudice to the above, savart shall not be held liable for any loss or damage or failure to comply or delay in complying with its obligations under these Terms which is caused directly or indirectly by any event or circumstances beyond savart’s reasonable control or if performance is prevented, hindered or delayed by a Force Majeure event (defined below) and in such case its obligations shall be suspended for so long as the Force Majeure event continues.
“Force Majeure Event” means any event due to any cause beyond the reasonable control of the Company or its Third Party Service Providers, including without limitations, unavailability of any communication systems, breach, or virus in the processes or payment or delivery mechanism, sabotage, fire, flood, explosion, acts of god, civil commotion, strikes or industrial action of any kind, riots, insurrection, war, acts of government, computer hacking, unauthorised access to computer data and storage devices, computer crashes, malfunctioning in the computer terminal or the systems getting affected by any malicious, destructive or corrupting code or program, mechanical or technical errors/failures or power shut down, faults or failures in telecommunication etc.
All decisions to purchase or sell units made by user shall be on the basis of personal judgment arrived at after due consideration. Savart does not in any manner:
i) Guarantee payments on any units or
ii) Guarantee liquidity of any units or
iii) Guarantee the redemption or repayment of any units on maturity or
iv) Guarantee the payments of interest or dividend or
v) Promise, indicate or guarantee any returns or
vi) Guarantee any good delivery.
vii) Subscribe to units of mutual funds on behalf or in name of user or collects payments from user for the units so purchased by user for remitting it further to the AMCs or
viii) redeem /sell the units held by user or on its behalf or in its name or
ix) unilaterally instruct the mutual fund and/or the corresponding AMCs with regards to nomination/changes in investments plan/any other changes or
x) sign any document on behalf of or in the name of user for purchase, sale or redemption of units or
xi) collect, receive and / or give receipts and discharges for any sum including dividend, interest or income arising from the units and does not sign and/or endorse dividend and interest warrants on user’s behalf or in user’s name or
xii) correspond with or gives notice to the mutual fund/AMCs on behalf of or in the name of user, except for transmission of transactions done or purported to be done by user on the online technology platform
12. No Warranties
All products, Services and Content on the Platform are provided “as is” without warranty of any kind, express or implied, including, but not limited to, implied warranties of merchantability, fitness for a particular purpose, title, non-infringement, security, or accuracy. savart does not endorse and is not responsible for the accuracy or reliability of any information on the Platform. It is your responsibility to evaluate the accuracy, reliability, timeliness and completeness of any information available on the Platform. savart specifically disclaims any duty to update the information on the Platform.
13. Indemnity Policy
You agree to indemnify, defend, and hold savart harmless from any liability, loss, claim, damages, demands, costs and expense, including legal fees incurred by s
avart in relation to your violation of these Terms or the use of the services, information provided at the Platform, or by virtue of, any breach of any representation, any applicable laws, regulations including but not limited to Intellectual Property Rights, violation of rights of privacy or loss of service by other subscribers and infringement of intellectual property or other rights, warranty, contract made or obligation to be performed by You as a User to the Platform and your obligation to comply to these Terms.
14. Access and Interference
You agree not to engage in any of the following:
a. Use any robot, spider, scraper, deep link or other similar automated data gathering or extraction tools, program, algorithm or methodology to access, acquire, copy or monitor the Platform or any portion of the Platform, without savart’s express written consent, which may be withheld in savart’s sole discretion.
b. Use or attempt to use any engine, software, tool, agent, or other device or mechanism (including without limitation browsers, spiders, robots, avatars or intelligent agents) to navigate or search the Platform other than the search engines and search agents available through the Platform and other than generally available third-party web browsers (such as Microsoft Explorer).
c. Post or transmit any file which contains viruses, worms, Trojan horses or any other contaminating or destructive features, or that otherwise interfere with the proper working of the Platform.
d. Attempt to decipher, decompile, disassemble, or reverse-engineer any of the software comprising or in any way making up a part of the Platform.
e. Engage in any activity that interferes with or disrupts access to the Services (or the servers and networks which are connected to the Platform);
f. Attempt to gain unauthorized access to any portion or feature of the Platform, any other systems or networks connected to the Platform, to any Company’s server, by any illegitimate means (including such as hacking and password mining);
g. Collect or store data about other users;
h. Violate any code of conduct or other guide, which may be applicable to the Service.
15. Secured Areas
Access to and use of password protected and/or secure areas of the Platform is restricted to authorized users only. Unauthorized persons attempting to access these areas of the Platform may be subject to prosecution.
16. Telephone Call Monitoring and Recording
Authorized employees or agents of savart may monitor and record all or portions of your telephone calls to savart for quality control, customer service, employee training, security, legal compliance, and other lawful purposes. Your consent will be ongoing and need not be confirmed prior to, or during such monitoring or recording, except to the extent applicable law expressly requires otherwise.
17. Electronic Communications
The Platform provides you Savart’s e-mail addresses so that you may communicate electronically by sending an e-mail message to Savart. All e-mail sent to and from Savart will be received or otherwise recorded by the Savart corporate e-mail system and is subject to archival, monitoring or review by and/or disclosure to, someone other than the recipient. Communications through the Platform may involve the electronic transmission, to any e-mail address you provided to us, of information that you may consider to be personal financial information and you agree and consent to such transmission of such information. You agree not to use e-mail to transmit any confidential personal information. It is your responsibility to update or change your e-mail address, as appropriate.
18. Service Availability
Subject to applicable laws, we may modify, alter, defer or stop any Services, or may start levying a fee prospectively, at our complete discretion, after giving a prior notice to you in this respect.
19. Third-Party Software
21. Intellectual Property
The entire contents of the Platform, including its "look and feel" are property of savart and are protected under Intellectual Property laws. You agree not copy or distribute any part of the Platform without approval.
Savart strictly reserves all intellectual property rights in all text, programs, products, services, features, processes, technology, content and other materials listed on the Services. Access to the Services does not award and shall not be considered as conferring upon anyone any license registered under the name of the Company. All rights, including copyright, in this Platform are owned by or licensed to savart. Any usage of this Platform or its contents, including copying or storing it or them in whole or part, for personal, non-commercial use is prohibited without the permission of savart. The names, logos, design marks and slogans are the trademarks or service marks of savart. All software used on theServices is the property of savart or its licensees protected by Indian intellectual property laws.
Upon termination, your right to use the Service will immediately cease. If you wish to terminate your account, you may simply discontinue using the Service.
All provisions of the Terms which by their nature should survive termination shall survive termination, including, without limitation, ownership provisions, warranty disclaimers, indemnity and limitations of liability.
23. Newsletters and Communication
You hereby expressly consent to receive communications and newsletters from the Company by SMS and e-mails. You can unsubscribe / opt-out from receiving communications and newsletters from us at any time by following the procedure set forth in the Platform.
Any feedback You provide to this Platform shall be considered to be non-confidential. We shall be free to use such information on an unrestricted basis. Further, by submitting the feedback, you represent and warrant that (i) Your feedback does not contain confidential or proprietary information of You or of any other third party (ii) We are not under any obligation of confidentiality, express or implied, with respect to the feedback; and (iii) You are not entitled to any compensation or reimbursement of any kind from us for the feedback under any circumstances.
24. Regulatory Caution:
Mutual Fund investments are subject to market risks, read all scheme-related documents carefully. savart or any of its key representatives or its affiliates might be holding the stocks or mutual fund schemes which it recommends to the Users based on their Goals. However, this will not affect the Services provided by savart and the Services will not be biased in any manner.
25. Governing Law
These Terms shall be governed and construed in accordance with the laws of India, without regard to its conflict of law provisions and subject to arbitration clause mentioned herein under, in case of any dispute between you and savart, in relation to the Services, the Courts of Hyderabad shall have exclusive jurisdiction.
If any dispute or difference either in interpretation or any terms of this Terms or use of the Services, arises between the parties, the same shall be referred to an independent authority who will be appointed by savart and its decision shall be final and binding on the parties. The above arbitration shall be in accordance with the Arbitration and Conciliation Act, 1996 as amended from time to time. The arbitration shall be held in Hyderabad.
This Terms and any rights and licenses granted hereunder, may not be transferred or assigned by you, but may be assigned by savart without restriction.
a. No Waiver: No waiver by savart of any breach or default hereunder shall be deemed to be a waiver of any preceding or subsequent breach or default.
b. Correction of Errors and Inaccuracies: The content on the Services may contain typographical errors or other errors or inaccuracies and may not be complete or current. We therefore reserve the right to correct any errors, inaccuracies or omissions and to change or update the content at any time without prior notice. We do not, however, guarantee that any errors, inaccuracies or omissions will be corrected.
c. Severability: If any provision of these Terms is held to be invalid or unenforceable by a court, the remaining provisions of these Terms will remain in effect. These Terms constitute the entire agreement between us regarding our Service, and supersede and replace any prior agreements regarding the Service.