Terms of Service

1. Acceptance of Terms

By accessing or using CaratStone's neobanking services, you agree to be bound by these Terms of Service and all applicable laws and regulations. If you do not agree with any part of these terms, you may not use our services.

These terms apply to all users including but not limited to jewellery manufacturers, wholesalers, retailers, and trading partners.

2. Eligibility

To use CaratStone services, you must:

• Be at least 18 years of age or the age of majority in your jurisdiction
• Be a registered business entity in India
• Operate in the gold, silver, diamond, or precious metals industry
• Provide valid business registration and GST documentation
• Have a valid bank account in India
• Not be restricted by any regulatory authority from financial services

3. Account Registration & Security

3.1 Registration

You must provide accurate, complete, and current information during registration. You are responsible for maintaining the confidentiality of your account credentials.

3.2 KYC Verification

All accounts are subject to Know Your Customer (KYC) verification as per RBI guidelines. We reserve the right to suspend services until verification is complete.

3.3 Account Security

• You must enable multi-factor authentication (MFA)
• Notify us immediately of any unauthorized access
• You are responsible for all activities under your account
• We are not liable for losses due to compromised credentials

4. Services Provided

CaratStone provides the following services:

• Digital banking and payment processing for jewellery businesses
• Inventory-backed credit and financing solutions
• Real-time gold, silver, and diamond price tracking
• B2B trading platform with escrow services
• GST/TDS compliance and automated tax filing
• Business analytics and financial reporting

Services may be modified, suspended, or discontinued at our discretion with reasonable notice.

5. Fees and Payments

• Transaction fees, interest rates, and service charges are disclosed upfront
• You authorize us to debit applicable fees from your account
• Late payment fees apply for overdue credit facilities
• Fee schedules are subject to change with 30 days' notice
• All fees are exclusive of applicable taxes

6. Prohibited Activities

You agree not to:

• Use services for illegal activities or money laundering
• Provide false or misleading information
• Attempt to bypass security measures or access unauthorized areas
• Use services to conduct fraudulent transactions
• Reverse engineer or interfere with our platform
• Trade in conflict diamonds or non-compliant precious metals
• Violate any applicable laws, regulations, or third-party rights

7. Credit Facilities and Loans

• Credit approval is subject to our risk assessment and eligibility criteria
• Inventory collateral must be properly valued and insured
• You must maintain minimum collateral coverage ratios
• Default on payments may result in collateral liquidation
• We reserve the right to recall loans with reasonable notice
• Interest rates are variable and subject to market conditions

8. Intellectual Property

All content, trademarks, logos, and intellectual property on CaratStone platform are owned by us or our licensors. You may not use, reproduce, or distribute our intellectual property without written permission.

9. Limitation of Liability

To the maximum extent permitted by law:

• We are not liable for indirect, incidental, or consequential damages
• Our liability is limited to the fees paid by you in the last 12 months
• We do not guarantee uninterrupted or error-free services
• Market price fluctuations are not our responsibility
• We are not liable for losses due to force majeure events

10. Dispute Resolution

Any disputes arising from these terms shall be resolved through:

• Good faith negotiations between parties
• Mediation before the Banking Ombudsman, if applicable
• Arbitration in Mumbai under Indian Arbitration Act
• Courts in Mumbai, India have exclusive jurisdiction

11. Termination

We may suspend or terminate your account if:

• You violate these terms or applicable laws
• Your account shows suspicious or fraudulent activity
• You fail to maintain KYC compliance
• Required by regulatory authorities

You may close your account at any time after settling all outstanding obligations.