THIS ONLINE AGREEMENT effective as soon as the partner agrees to the terms and conditions. It is between PayKun Payment Solutions AND The Individual/ Company registered for the partnership program through the PayKun sign up process (“Partner”). “First Party” or “PayKun” and “Second Party” or "Partner” are hereinafter individually and collectively referred to as “Party” and “Parties” respectively, as the context may require. The Agreement shall be valid, legal and binding on the Parties until terminated in accordance with terms of this Agreement.
Unless an alternative context is provided or required, the following words and expressions used in this Agreement shall have the meaning as below:
The obligation of confidentiality under this Clause does not apply to:
In no event shall either Party be liable to the other Party for any consequential loss or damage or loss of profit, business, revenue, goodwill or anticipated savings arising out of the performance of the Services contemplated in this Agreement.NOTICES AND CONTRACT REPRESENTATIVES:
Any notice provided for in this Agreement shall be in writing and shall be (i) first transmitted by electronic transmission, and then confirmed by postage, prepaid registered post with acknowledgement due or by recognized courier service; or (ii) sent by postage, prepaid registered post with acknowledgement due or by recognized courier service, to the relevant party at its address set out below:
In the case of notices to the First Party:
Addressed to:PayKun Payment Solutions Private Limited.
1A, First Floor, Leela Shanti Commercial Tower
Nr Hotel Sarovar Portico,
Victoria Park Rd, Bhavnagar-364002, Gujarat, India
In the case of notices to the Second Party: Addressed to:
As per provided in the Registration form by the partner All notices shall be deemed to have been validly given on (i) the business day immediately after the date of transmission with confirmed answer back, if transmitted by facsimile; or (ii) in case sub-clause (i) does not apply, the expiry of 7 (seven) business days after posting, if sent by post. Either Party may, from time to time, change its address or representative for receipt of notices provided for in this Agreement by giving to the other Parties not less than 10 (ten) days’ prior written notice.
In the event either Party (the “Prevented Party”) is prevented from performing its obligations under this Agreement by force majeure, such as earthquake, typhoon, flood, public commotion, torrential rains, heavy winds, storms or other acts of nature, fire, terrorist acts, threatened terrorists acts, explosion, acts of civil or military authority including the inability to obtain any required approvals or permits, strikes, riots, war, plagues, other epidemics, or other unforeseen events beyond the Prevented Party’s reasonable control (an “Event of Force Majeure”), the Prevented Party shall notify the other party without delay and within fifteen (15) days thereafter shall provide detailed information concerning such event and documents evidencing such event, explaining the reasons for its inability to execute, or for its delay in the execution of, all or part of its obligations under this Agreement.
If an Event of Force Majeure occurs, neither Party shall be responsible for any damage, increased costs or loss which the other Party may sustain by reason of such a failure or delay of performance, and such failure or delay shall not be deemed a breach of this Agreement. The Prevented Party shall take reasonable means to minimize or remove the effects of an Event of Force Majeure and, within the shortest reasonable time, attempt to resume performance of the obligations delayed or prevented by the Event of Force Majeure.
All disputes arising out of or in relation to this Agreement, including any question regarding its existence, validity or termination, which cannot be amicably resolved by the Parties within 15 days of being brought to their attention, shall be settled by arbitration governed by the provisions of Arbitration and Conciliation Act, 1996. The venue/seat of Arbitration shall be Bhavnagar and the language of arbitration shall be English. A dispute shall be deemed to have arisen when either Party notifies the other Party in writing to that effect.
This Agreement, the construction and enforcement of its terms and the interpretation of the rights and duties of the Parties hereto shall be governed by the laws of India and shall be subject to the jurisdiction of courts in Bhavnagar. This Agreement is executed in English language which shall prevail over any translation thereof.
During the Term and for a period of sixty (60) months from the completion of the Term or earlier termination of the Agreement, the Second Party shall not directly or indirectly solicit, entice away or engage for itself or any third party any employees, agents, customers, merchants, vendors or consultants of PayKun.
Each Party hereto agrees that it shall comply with all applicable laws in performing its obligations hereunder. If at any time during the Term of this Agreement, a Party is informed or information comes to its attention that it is or may be in violation of any applicable law (including any ordinance, regulation, code order, decree, judgment of any court, tribunal or other authority having competent jurisdiction), that Party shall immediately take all appropriate steps to remedy such violation and comply with such law, regulation, ordinance, code order, decree, judgment in all respects. Further, each Party shall establish and maintain all proper records (including, but without limitation, accounting records) required by any law, code of practice or corporate policy applicable to it from time to time.
This Agreement binds the successors and assigns of the respective Parties with respect to all covenants herein, and cannot be changed except by written agreement signed by both Parties.
In the event any one or more of the provisions of this Agreement shall, for any reason, be held to be invalid, illegal or unenforceable, the remaining provisions of this Agreement shall be unaffected, and the invalid, illegal or unenforceable provision(s) shall be replaced by a mutually acceptable provision(s), which being valid, legal and enforceable, comes closest to the intention of the Parties underlying the invalid, illegal or unenforceable provision(s).
The headings in this Agreement are for purposes of reference only and shall not in any way limit or otherwise affect the meaning or interpretation of any of the terms hereof.
This Agreement may be executed in several counterparts, each of which shall be deemed to be an original, and all of which, when taken together, shall constitute one and the same instrument.
No modification, amendment, supplement to or waiver of this Agreement or any of its provisions shall be binding upon the Parties hereto unless made in writing and duly signed by the Parties or Party against whom enforcement thereof is sought.
A failure or delay of any Party to this Agreement to enforce at any time any of the provisions of this Agreement or to exercise any option which is herein provided, or to require at any time performance of any of the provisions hereof, shall in no way be construed to be a waiver of such provisions of this Agreement.
This Agreement together with all Recitals, Appendices, Exhibits, Schedules, Attachments and Addenda (as applicable) attached hereto constitute the entire agreement between the Parties and supersedes all previous agreements, promises, representations, understandings and negotiations, whether written or oral, between the Parties with respect to the subject matter hereof.
As this is an electronic agreement, no signatures are required. Accepting the terms and conditions would be considered binding.ANNEXURE I
PayKun FEES (exclusive of Taxes)
PayKun will charge fixed commission on transactions to merchants via partners, represented herein as “PayKun Fees” for different modes of payments such as Credit Cards, Debit Cards, Net Banking, Online Wallets and UPI. PayKun Fees can be revised from time to time and PayKun reserves the rights to revise the PayKun fees and Partner Commission.
|Particulars||Charges in INR|
|Domestic Credit Cards||2.00%|
|Online Wallets||1.75% (Paytm 2.00%)|
|PayKun 2.0 Product / Services||1.00% Additional|
applicable goods and service tax and any other taxes extra as per government of India regulations
There is no integration fee for merchants that are onboarded through partners on the default Partner Pricing.Annual Maintenance Fee:
There is no Maintenance fee for merchants that are onboarded through partners on the default Partner Pricing.Partner Commission:
0.15% on the transaction by the Merchant (transacting directly and not via any other Partner platform ) will be paid out as commission to the Partner.