Multi-state cooperative societies are functioning as autonomous cooperative organizations accountable to their members and not under the administrative control of the Central Registrar, Ministry of Agriculture and Farmer’s Welfare. Therefore, the depositors/members are advised to take decision for investing deposits based on the performance of the society at their own risk. Central Registrar, Ministry of Agriculture and Farmer’s Welfare does not provide any guarantee for these deposits.
Adarsh Credit Co-operative Society Ltd. Terms of Service (“Agreement”)
This Agreement was last modified on January 09, 2014.
Please read these Terms of Service (“Agreement”, “Terms of Service”) carefully before using adarshcredit.in (“the Site”) operated by Adarsh (“us”, “we”, or “our”). This Agreement sets forth the legally binding terms and conditions for your use of the Site at adarshcredit.in.
By accessing or using the Site in any manner, including, but not limited to, visiting or browsing the Site or contributing content or other materials to the Site, you agree to be bound by these Terms of Service. Capitalized terms are defined in this Agreement.
All or any information updated on this website is solely meant for the use of members and prospective members of Adarsh Credit Co-operative Society Ltd.
This society does not intend to offer or publish any information for general public.
The Site and its original content, features and functionality are owned by Adarsh and are protected by international copyright, trademark, patent, trade secret and other intellectual property or proprietary rights laws.
We may terminate your access to the Site, without cause or notice, which may result in the forfeiture and destruction of all information associated with you. All provisions of this Agreement that by their nature should survive termination shall survive termination, including, without limitation, ownership provisions, warranty disclaimers, indemnity, and limitations of liability.
Links To Other Sites
Our Site may contain links to third-party sites that are not owned or controlled by Adarsh.
This Agreement (and any further rules, polices, or guidelines incorporated by reference) shall be governed and construed in accordance with the laws of India, subject to sole jurisdiction of courts in Ahmedabad (Gujarat) without giving effect to any principles of conflicts of law.
Changes To This Agreement
We reserve the right, at our sole discretion, to modify or replace these Terms of Service by posting the updated terms on the Site. Your continued use of the Site after any such changes constitutes your acceptance of the new Terms of Service.
Please review this Agreement periodically for changes. If you do not agree to any of this Agreement or any changes to this Agreement, do not use, access or continue to access the Site or discontinue any use of the Site immediately.
Outward Funds Transfer (NEFT)
- Member Customer, I, We me, my or us means the person named here-in availing the NEFT Facility and shall include both singular and plural.
- “Society” means “Adarsh Credit Co-operative Society Ltd”.
- “Banking Services Provider” refers to any of the Scheduled and Non Scheduled Banks in India.
- “NEFT Facility” means the National Electronic Funds Transfer Facility through the RBI NEFT System.
- “Security Procedure” means a procedure established between the Society, its Banking Services Provider and the Member customer for the purpose of verifying that the payment order or communication amending or canceling a payment order transmitted electronically is that of the Member customer or for detecting error in the transmission for the content of the payment order or communication. A security procedure may require the use of algorithms or other codes, identifying words or numbers, encryption, callback procedures or similar security devices.
Scope of the terms & conditions
- These terms and conditions shall govern every payment order issued by the Member customer under the NEFT facility, through the Society’s Banking Services Provider.
- The Member customer understands and acknowledges that nothing contained herein shall be construed as creating any contractual or other rights against the Reserve Bank of India or any participant in the NEFT System or the Banking Services Provider, other than the Society.
Commencement and Termination
- This Agreement shall come into force as soon as a request for NEFT/ is made by the member customer and/or a security procedure is established by mutual agreement between the Society and the Member customer.
- These terms and conditions and any modifications thereto shall remain valid and binding on the Member customer.
- I/We agree that the Society can withdraw the NEFT facility by giving reasonable notice.
Rights and obligations of the Member Customer
- The member customer shall be entitled, subject to other terms and conditions herein and the Regulations to issue payment order for execution by the Society, through its Banking Services Provider.
- Payment order shall be issued by the member customer in the form complete in all particulars. The member customer shall be responsible for the accuracy of the particulars given in the payment order issued by him and shall be liable to compensate the Society for any loss arising on account of any error in his payment order.
- The member customer shall be bound by any payment order executed by the Society if the Society has executed the payment order in good faith and in compliance with the security procedure.
- Society. Where however, the Society executes the payment order without properly applicable funds being available in the member customer’s account the member customer shall be bound to pay to the Society the amount debited to his account for which an NEFT was executed by the Society pursuant to his payment order together with the charges including interest payable to the Society.
- The member customer hereby authorizes the Society to debit to his account for any liability incurred by him to the Society for execution by the Society of any payment order issued by him.
- Member Customer agrees that the payment order shall become irrevocable when it is executed by Society, through its Banking Services Provider.
- Member Customer agrees that the Society is not bound by any notice of revocation unless it is in compliance with the security procedure.
- Member Customer agrees that he shall not be entitled to make any claim against any party in the RBI NEFT System except the Banking Services Provider of the Society.
- Member Customer agrees that in the event of any delay in the completion of the Funds Transfer or any loss on account of error in the execution of the Funds Transfer pursuant to a payment order, the Society ‘s liability shall be limited to the extent of payment of interest at the Society Rate for any period of delay in the case of delayed payment and refund of the amount together with interest at the Society rate upto the date of refund, in the event of loss on account of error, negligence or fraud on the part of any employee of the Society. Any delay due to error, negligence or fraud on the part of any employee of the Banking Services Provider shall not be attributable for claims against the Society.
- Member Customer agrees that no special circumstances shall attach to any payment order executed under the NEFT facility under this Agreement and under no circumstance member customer shall be entitled to claim any compensation in excess of that which is provided in clause (9) above, for any breach of contract or otherwise.
Rights and obligations of the Society
- The Society shall execute a payment order issued by the member customer duly authenticated by him as verified by the security procedure, unless:
A. The funds available in the account of the member customer are not adequate or properly applicable to comply with the payment order and the member customer has not made any other arrangement to meet the payment obligation.
B. The payment order is incomplete or it is not issued in the agreed form.
C. The payment order is attached with notice of any special circumstances.
D. The Society has reason to believe that the payment order is issued to carry out an unlawful transaction.
E. The payment order cannot be executed under the RBI NEFT System.
- No payment order issued by the member customer shall be binding on the Society until the Society and its Banking Service Provider have accepted it.
- The Society shall, upon execution of every payment order by it, be entitled to debit the designated account of the member customer, the amount of the funds transferred together with charges payable thereon, whether or not the account has sufficient balance.
- The member customer agrees that NEFT facility is being availed, through the Banking Services provider, at the members customer’s own risks including but not limited to misuse of password, internet fraud, mistakes & errors, technology risks, the member customer understands and accepts that the Society or its Banking Services Partner shall not be responsible or liable in respect of the said risks.
CONDITIONS OF TRANSFER
- Society shall not be liable for any loss of damage arising or resulting from delay in transmission delivery or non-delivery of Electronic messages or any mistake, omission, or error in transmission or delivery thereof or in deciphering the message from any cause whatsoever or from its misinterpretation received or any other action beyond its control.
- All payment instructions should be checked carefully by the member customer.
- The Funds transfer request can be made from 9.30 AM to 4.00 PM during working days of society.
- Transaction Charges shall be levied as per schedule of charges released and revised time to time through Circulars for members.
Notices, Arbitration and Jurisdiction
- All notices and other communications between the Member Customer and Society must be in writing and sent via Registered post to the Society’s address specified in this agreement.
- Member Customer confirms that if any dispute arises due to the NEFT Services provided by the Society through its Banking Services Provider, such dispute shall be amicably resolved as per the provisions of the Arbitration and Reconciliation Act, 1996 by the arbitrator appointed by the Society with place of Arbitration at Ahmedabad, Gujarat.
- The validity, construction and enforceability of this Agreement shall be governed in all respects by the Laws of India. The Parties hereto agree that in respect of any dispute arising upon, over or in respect of any of the terms of this Agreement, only the Courts in Ahmedabad, India shall have jurisdiction to try and adjudicate such dispute to the exclusion of all other Courts.
If you have any questions about this Agreement, please contact us.
Adarsh Credit Co-Operative Society Limited
Adarsh Bhavan, 14 Vidhya Vihar Colony, Usmanpura, Ashram Road, Ahmedabad , Pincode:380013, Dist: Ahmedabad, State: Gujarat.
Phone : +91-079-27560016
Fax : +91-079-27562815
TOLL FREE : 1800 3000 3100