TERMS AND CONDITIONS

This user agreement is between Saveraa Inc. and you, and applies your use of Namma, including the services provided through this website, any applications, or software. In this agreement, these services are collectively referred to as the “Services.”

By using the Services, you accept and agree to the terms in this user agreement.

THE SERVICES

Namma provides the platform through which individuals can enter into simple, direct peer-to-peer personal loan arrangements with family and friends. If you are borrower through the Services, there are restrictions to which you must agree on how you make use of the funds you receive. The Services are not intended for commercial loans, for business-to-business transactions, or for investment purposes of any kind.

You must be at least 18 years of age to use the Services.

NAMMA IS A TECHNOLOGY PLATFORM PROVIDER ONLY. IT IS NEITHER A LENDER NOR A FINANCIAL INSTITUTION.

RISKS

Loans carry financial risk. Before you enter into any loan through the Services, you should seek advice to fully understand the risks involved and how a loan may impact you. In any transaction entered into through the Services, each individual entering into a loan transaction bears sole responsibility for any and all risks involved. Risks include whether the loan will be repaid in a timely manner or repaid at all; the creditworthiness of the individual receiving the loan; whether an individual to a loan transaction has been truthful; and other risks. BY USING THE SERVICES, YOU AGREE TO ANY AND ALL RISKS ASSOCIATED WITH A LOAN. To the extent any claims, demands, or damages arise relating to a loan of which you are a party, you agree to release and hold harmless Saveraa Inc. and its affiliates, and their respective officers, employees, directors, third party service providers, and agents from such claims, demands, or damages.

IDENTITY OF PARTIES AND CREDITWORTHINESS OF BORROWER

NAMMA DOES NOT ASSESS THE CREDITWORTHINESS OF A BORROWER WHO USES THE SERVICES, NOR DOES NAMMA ASSESS THE IDENTITY OF THE PARTIES TO ANY LOAN TRANSACTION. The users bear sole responsibility for determining the other users with whom they interact using the Services, including verifying a user’s identity and creditworthiness.

COLLECTION ACTIVITY

Namma does not provide collection activities as part of the Services. Any efforts to collect on an unpaid or defaulted loan, including any litigation, is the sole responsibility of the individual who provided the loan. Any such collection activities must be conducted outside of the Services and without the involvement of Namma.

OTHER THIRD PARTY SERVICES

Other than as set forth herein, the Services are separate from other services you may need to use in connection with the Services, such as services provided to you by your mobile device maker, your telecommunication provider, or the financial institution through which you are providing or receiving loan funds. Namma has no responsibility with respect to these third parties and any services they provide to you. It is your responsibility to ensure that your use of the Services is allowed under your agreement with any such third parties, and you will be solely responsible for any fees or other charges that you may incur in connection with those third party services.

USE OF THE SERVICES

You agree at all times to comply with the terms and conditions in this user agreement. You agree that you will use the Services only for legitimate and lawful purposes and in compliance with all applicable laws or regulations that apply to you and to your use of the Services.

In order to use the Services, you must first create a Namma user account, which requires your first name, last name, a valid phone number, a valid email address, and the creation of a password.

Your access to the Services is at the sole discretion of Namma. Namma reserves the right to interrupt, block or terminate your access to the Services at any time for any reason.

FEES

There are fees for the use of our Services. The fees applicable to the specific Services you use can always be found here: https://namma.co/product.

SECURITY OF YOUR USER ACCOUNT

You are responsible for maintaining adequate security and control of the user ID and password that you create to establish your Namma user account.

RISK OF UNAUTHORIZED USE

You will be solely and fully responsible for all activity originating from your user account and password. YOU SOLELY TAKE ON THE RISK OF ANY FRAUDULENT, UNAUTHORIZED OR OTHERWISE IMPROPER ACTIVITY THAT MAY RESULT FROM USE OF THE SERVICES THAT ORIGINATE FROM YOUR USER ACCOUNT.

LICENSE TO THE SERVICES

Namma grants you a revocable, non-exclusive, non-sublicensable, non-transferable, limited license to access or use the Services, including any subsequent updates or upgrades. You agree not to modify, alter, tamper with, repair, copy, reproduce, adapt, distribute, display, publish, reverse engineer, translate, disassemble, decompile or otherwise attempt to create any source code that is derived from any software in the Services.

USE OF YOUR DATA

BY USING THE SERVICES, YOU AGREE THAT NAMMA MAY COLLECT, RETAIN, SHARE AND USE YOUR DATA, WHETHER AT A TRANSACTIONAL LEVEL OR AGGREGATED WITH OTHER USER DATA, FOR PURPOSES OF PROVIDING THE SERVICES TO YOU AND FOR ANALYTICAL PURPOSES THAT WILL HELP NAMMA IMPROVE THE SERVICES AND THE USER EXPERIENCE. ENTITIES WITH WHICH NAMMA MAY SHARE YOUR DATA INCLUDE THIRD PARTY SERVICE PROVIDERS, AND THE FINANCIAL INSTITUTION THAT YOU USE IN CONNECTION WITH THE SERVICES.

All use of your data will be in compliance with Namma’s privacy policy.

CHANGES TO THE SERVICES AND TO THIS USER AGREEMENT

Namma may make changes to this user agreement at any time by providing you with a copy of the revised agreement and notice of the future date when such changes will take effect. Your continued use of the Services after the effective date of the new terms will constitute your acceptance of such changes. If you do not agree to the new terms, you should discontinue use of the Services prior to the date the revised agreement takes effect.

NOTICES

You are responsible for providing and maintaining an updated and valid email address, which Namma will use to contact you for any important updates to the Services, including changes to this user agreement, which may include changes to any fees that Namma may charge you in connection with the Services. You agree to email as the means by which Namma can communicate with you and that receipt of any communication sent by Namma to you by email will be deemed received by you 24 hours after transmission of that email.

TERMINATION OF THE SERVICES AND THIS USER AGREEMENT

Namma may terminate this user agreement with you at any time for any reason upon notice to you.

It is your responsibility to notify Namma if you should choose to terminate your account. You may close your user account at anytime by notifying Namma by email of your decision.

PRIVACY

For information about how Namma collects, uses, and shares your information, please see the “Use of Your Data” section above, and review Namma’s privacy policy below. By using the Services, you consent to the capture, collection, use, and sharing of your information by Namma in accordance with the “Use of Your Data” section of this user agreement and the privacy policy.

LIMITATION ON LIABILITY

Your use of the Services is at your own risk.

Namma will not be liable to you for any of the following: your use of, or your inability to use, the Services; any delays, errors, or disruptions in the services; any viruses or other malicious software; and any action of any third parties, including that of any their party service providers or the financial institutions used in connection with the Services.

To the extent Namma or Saveraa Inc. is found liable to you under this agreement, such liability will not exceed the total amount of fees paid by you to Namma during the preceding 12-month period for use of the Services, or $500, whichever is greater, unless otherwise prohibited by applicable law.

IN NO EVENT WILL NAMMA OR SAVERAA Inc., ITS AFFILIATES, OR ITS DIRECTORS, OFFICERS, AGENTS OR EMPLOYEES BE LIABLE FOR ANY LOST PROFITS OR ANY SPECIAL, INCIDENTAL OR CONSEQUENTIAL DAMAGES (INCLUDING WITHOUT LIMITATION FOR BREACHES OF PRIVACY, FOR ANY DATA LOSS OR FOR LOSS OF BUSINESS) ARISING OUT OF OR IN CONNECTION WITH THIS USER AGREEMENT OR THE SERVICES, UNLESS AND TO THE EXTENT PROHIBITED BY LAW.

NO REPRESENTATIONS OR WARRANTIES

The Services are provided to you ‘as is’, without any representation or warranty of any kind, whether expressed or implied, including implied warranties of title, merchantability, fitness for a particular purpose and non-infringement.

INDEMNIFICATION

You agree to indemnify and hold harmless Namma and Saveraa Inc., its affiliates, and its directors, officers, agents, and employees, for any actions, claims or demands, including attorney’s fees, arising in connection with this user agreement or the Services due to your use of the Services, a breach of this user agreement by you, improper or unauthorized use of your user account by you or by a third party, or your violation of any laws or regulations or the rights of any third party.

OWNERSHIP OF INTELLECTUAL PROPERTY

Namma owns all right, title, and interest in and to the Services and all content in connection with the Services, including any trademarks, patents, copyrights, data, logos, technology, software, and applications.

GOVERNING LAW

This user agreement is governed under the laws of the State of New York without regard to any conflict of law principles.

OTHER PROVISIONS

Namma’s failure to act with respect to a breach of any of your obligations under this user agreement does not waive its right to act with respect to subsequent or similar breaches.

You may not transfer or assign any rights or obligations you have under this user agreement. Namma may transfer or assign this user agreement or any right or obligation under this user agreement at any time.

This user agreement, together with the privacy policy, constitutes the entire agreement between you and Namma with respect to the Services. Any provision of this user agreement that a court deems to be invalid will have no effect on the validity of any of the other provisions of this user agreement. Terms in this user agreement which by their nature are continuing shall survive even after termination of this user agreement, including the terms covering indemnification and limitation of liability.

Privacy Notice

Please read our privacy policy carefully to get a clear understanding of how we collect, use, protect or otherwise handle your data, including your personally identifiable information. This notice covers the following:

1. What personally identifiable information is collected from you, how it is used and with whom it may be shared.
2. What choices are available to you regarding the use of your data.
3. The security procedures in place to protect the misuse of your information.
4. How you can correct any inaccuracies in the information.

What personal information do we collect from you on our website or our mobile application?

The following lists the data we may collect about you and when we collect such data:

• Type of Data: Profile Data
• Description of Data: Name, email address, password.
• When We Collect It: When you register for an account with us.

When first opening an account with us, we will ask you to register with us by creating a user name and password. You must then validate your email. During the loan registration process, in order for us to confirm your identity, we will ask you for your first name, last name, date of birth, last four digits of your social security number, and your home address.

When do we collect information?

We collect information when you enter information into the Namma application or on our website.

How do we use your information?

We may use the information we collect from you on our website or in our application in the following ways:

• To verify your identity.
• To improve our services in order to better serve you.
• To allow us to better service you in responding to your customer service requests.
• To ask for ratings and reviews of our services.

How do we protect your information?

We take precautions to protect your information. When you submit sensitive information via the website or in our application, your information is protected both online and offline.
Wherever we collect sensitive information (such as banking data), that information is encrypted and transmitted to us in a secure way. You can verify this by looking for a lock icon in the address bar and looking for ‘https’ at the beginning of the address of the Web page.
We also protect your information offline. Only personnel who need the information to perform a specific job (for example, billing or customer service) are granted access to personally identifiable information. The servers in which we store personally identifiable information are kept in a secure environment.

Use of cookies

Our application and website may utilize “cookies” or other technology that serve a similar function, which help us to provide the services to you and to better understand user behavior so that we may provide and improve our services to you.

Third-party disclosure

We are the sole owners of the information collected on this site or in our application. We do not sell, trade, or otherwise transfer to outside parties your personally identifiable information unless we provide you with prior notice.
In connection with providing our services to you, we may share or transfer your personally identifiable information to, or receive such information from third parties that assist us in operating our mobile or web applications, conducting our business, or serving our users, so long as those parties agree to keep this information confidential. We may also release information when required to comply with law.
In addition, other third parties with which we may share or transfer your personally identifiable information may include entities that assist us in operating our mobile or web applications, conducting our business, or serving our users, so long as those parties agree to keep this information confidential. We may also release information when required to comply with law.

Your access to and control over information

You may opt out of any future contacts from us at any time. You can do the following at any time by contacting us via the email address or phone number given on our website or in our application:

• See what data we have about you, if any.
• Change/correct any data we have about you.
• Have us delete any data we have about you.
• Express any concern you have about our use of your data.

CONTACT US

If there are any questions regarding our terms or our privacy policy, you may contact us at: support@namma.co.