Terms & Condititons

Sunrays Finance – Terms and Conditions

1. Definitions

  • “Company” refers to Sunrays Finance (or “we”/”us”).

  • “Borrower” or “you” refers to the person or entity borrowing from the Company.

  • “Loan” means the financing provided by the Company under agreed terms.

  • “Agreement” refers to this Terms and Conditions document and any applicable annexures or schedules.

2. Eligibility & Loan Disbursement

  • Loans are available subject to verification of your identity, address, credibility, and any other documents or information required under law.

  • Disbursement may be direct to your account or to a third party, at the Company’s discretion.

3. Interest Rate & Charges

  • Interest rates are stated in the agreement and may be fixed or floating. The Company may revise rates if mandated by regulatory authorities.

  • Applicable processing fees, service charges, or other costs will be specified in the disbursement documentation.

4. Repayment Terms

  • Repayment will occur as per the schedule provided (installments, due dates, amounts).

  • You may repay via post-dated cheques (PDCs), bank transfers, NACH, UPI, or other approved methods.

  • Late payments may incur additional interest or penalty charges as detailed in the agreement.

5. Prepayment/Pre-closure

  • Prepayment within X months of disbursement may attract prepayment charges as outlined in the agreement.

  • Prepayment becomes effective only once funds or cleared cheque are received.

6. Security & Insurance

  • Loans may be secured by hypothecation or collateral as specified.

  • You must insure hypothecated assets under a comprehensive policy (covering fire, theft, third-party liability), naming the Company as ‘loss payee’.

7. Default & Remedies

  • Default events include missed payments, failure to insure, misuse or transfer of the asset, insolvency, or supplying false information.

  • On default, the Company may recall the loan in full, repossess the asset, charge seizure fees, and recover costs.

  • The Company may sell the asset (public/private) and apply proceeds toward outstanding dues; surplus refunded, shortfall recoverable from you.

8. Agency & Assignment

  • Loan servicing and collection may be outsourced to third-party agents appointed by the Company.

  • The Company reserves the right to assign, securitize, or transfer your loan to another entity; you agree to such arrangements.

9. Set-Off & Lien

  • The Company may combine or adjust your outstanding dues against any credit balances you hold with it.

10. Communications & Notices

  • All notices must be in writing and deemed delivered when sent via registered post, courier, email, or messaging services (e.g., WhatsApp).

  • You must promptly notify the Company of any changes to address, contact details, or email.

11. Representations & Indemnity

  • You affirm that all information provided is accurate, and you have the capacity to contract.

  • You indemnify the Company against any loss due to false statements or non-payment of statutory charges (e.g. stamp duty).

12. Limitation of Liability

  • The Company’s liability is limited to those expressly set out in the Agreement.

  • Under no circumstances shall the Company be responsible for damages beyond what is specified.

13. Intellectual Property

  • All content, software, and material provided is the Company’s property. Unauthorized use is prohibited.

14. Governing Law & Dispute Resolution

  • This Agreement is governed by the laws of India.

  • Disputes may be resolved via arbitration or courts located in [City], with jurisdiction accordingly.

15. Entire Agreement & Amendments

  • This Agreement (including schedules) is the complete understanding between parties.

  • Amendments must be in writing and signed by both parties, except for interest rate revisions as permitted by law.