This agreement is between the applicant/customer ("you", "your", "Customer") which term shall mean and include its heirs, assigns and successors on one part; and, Beam Money (P) Limited, having its registered office at Enterprise, D-128-129, 402, Terrace Floor, Okhla Industrial Area, Phase 1, New Delhi, 110020, India ("Beam") which term shall mean and include successors, assigns and administrators on the other part.

I. Becoming Customer/Subscriber, Beam Customer, Beam Customer/Subscriber Account, Registered Mobile Number/RMN, Secret Personal Identification Number/SPIN: You confirm that you have signed the application-cum-agreement after going through and having fully understood the terms and conditions which have been explained in the language known to you and accepting the terms of the agreement. By subscribing to the Beam Money services, you acknowledge that you have read, understood and agree to be bound by these terms and conditions.

II. On accepting the application-cum-agreement, Beam shall allot a Beam Customer/Subscriber Account Number ("BSA") which is also referred as Customer/Subscriber Identification Number ("SID") identification whereafter you shall become and be referred as Beam Customer. The Beam Customer shall also be issued a Secure Personal Identification Number ("SPIN") by Beam that would be required by you to authorize any transaction in the BSA. The mobile number and Email ID mentioned by you in the application-cum-agreement shall on registration, become your Registered Mobile Number ("RMN") and Registered Email ("REM"). Your username shall be the BSA or the RMN; and password shall be the SPIN.

III. Terms of Usage - Beam Prepaid Instruments: The Beam Prepaid Instruments ("BPI") are governed by the Payment and Settlement Systems Act, 2007 ("PSSA") and regulations thereunder as amended, as well as Reserve Bank of India ("RBI") directions / guidelines / approvals issued from time to time ("RBI Guidelines") and also the terms and conditions stipulated by Beam and RBI from time to time. The BPI should be utilized by individuals who are above 18 years of age only. Further, BPI may be used for availing various services provided by Beam ("Beam Services"), which, interalia, include but are not limited to, making payment of utility bills, essential services etc. In case of non-utility bills or non-essential services, the BPI may be used subject to compliance of Know Your Customer ("KYC") requirements as prescribed by RBI from time to time. KYC means Know Your Customer information based on KYC documents furnished by the customers as per the RBI Guidelines.

IV. Acceptance of Terms of Use: Please read these terms and conditions carefully. Availing the Beam Services as defined herein as also on Beam's website www.beam.co.in / wapsite / IVR / app ("Beam Website/Wapsite/App"), expressly means that you accept and agree to abide by these terms and conditions as well as any other which might be stipulated by Beam from time to time without prior notice. In case you do not agree to abide by these terms and conditions as also the aforesaid, please do not avail Beam Services.

1)       Beam may in its sole discretion alter, add or delete these terms and conditions as also those mentioned on Beam Website from time to time, without any prior notice, which shall come into effect automatically unless otherwise specified by Beam. If you do not agree to any modifications, you should discontinue availing the Beam Services (other than those which have already been availed by you prior to such modifications). In the event you continue to avail the Beam Services, it will be conclusively deemed that you agree to abide by the amended terms and conditions unconditionally.

2)       The terms and conditions of Beam shall be applicable for the use of BPI as well as the Beam Prepaid Instrument Payment Gateway ("BPIPGI") as may be amended from time to time. The use of BPI constitutes full and unconditional acceptance of the terms and conditions mentioned herein as also on Beam Website/Wapsite/App from time to time. These terms and conditions shall be in addition to any other terms and conditions as stipulated by Beam or RBI from time to time.

3)       BPI may be used for transactions as envisaged in/extant RBI Guidelines as amended from time to time, which, interalia, stipulate that Pre paid Payment Instruments ("PPI") up to Rs 1,000 may be issued against any identity document furnished by you and for PPI up to Rs 5,000 can be issued by accepting any officially valid documents defined under Rule2 (d) of Prevention of Money Laundering Act, as amended, as proof of identity (as per para 6.4 of RBI Directions dated April 27, 2009. As per RBI directions dated November 4, 2010, the limit for utility bills/essential services/travel tickets for issuance of PPIs has been increased to Rs 10,000 without any separate KYC being taken from the customer. As per RBI's directions dated May 4, 2011, the limit for semi closed PPIs has been increased to Rs 50,000. RBI has permitted issuance of Prepaid Gift Instruments ("PPGI") on November 4, 2010 and also allowed the facility of Domestic Money Transfer ("DMT") from October 5, 2011.

4)       Beam shall not be liable/ responsible for any defect in the product/merchandise/goods or services availed by you through BPI. Beam does not guarantee/warranty against any damage or defect for the transactions done through BPI. Any dispute or claim regarding the product/merchandise/goods or services must be resolved directly with the merchant/seller.

5)       Beam may charge merchant discount rate / transaction service fee, convenience charges/service fee, payment gateway service fees etc. for use of BPI for payments to the merchant/seller. The aforesaid fees, as applicable and fixed by Beam from time to time, will be mentioned in the BSA.

6)       Beam is irrevocably authorised by you to use the information submitted in the application-cum-agreement, as well as KYC submitted by you for business purposes. You hereby consent to (i) receive e-newsletter, short message service ("SMS") messages, promotional offers as well as other communications containing offers/schemes/incentives etc. and (ii) Beam providing your information to sponsor/s and/or companies associated with it for the purpose of providing you with offers and information.

7)       No redemption or cash withdrawal will be done unless permitted by RBI.

8)       Use of BPI in foreign currency is strictly prohibited unless permitted otherwise by RBI.

9)       BPI is valid for twelve (12) months from the date of first usage or twelve (12) months from date of manufacture ("DOM"), whichever is earlier.

10)   Beam shall not be responsible for any fraud or misuse of BPI and you agree to be personally solely responsible and liable for any and all costs, taxes, charges, claims or liabilities of any nature, arising due to any such fraud or misuse of BPI.

11)   The property in BPI belongs to Beam, which it must be returned upon demand by Beam at its registered office address or any other address communicated by Beam.

12)   You agree to pay the full amount of the value of BPI purchased by you.

13)   Any duplication of BPI in any manner will subject the same to cancellation with nil value.

14)   BPI once purchased will not be cancelled. Similarly BPI once loaded in the BSA cannot be cancelled.

15)   BPI is not transferable except to another Beam Customer.

16)   Beam reserves absolute and sole right, at anytime, to refuse for any reason, whatsoever the use of BPI on merchants/sellers/Beam Customers.

17)   You agree to obtain appropriate advice and to familiarize yourself with the risks associated and all the terms and conditions pertaining to BPI prior to purchasing BPI loading the BPI amount in your BSA and thereafter transacting.

18)   You accept and acknowledge that Beam is absolved of any liability to any person, in respect of anything done and/or omitted to be done by you in any manner whatsoever.

19)   Beam is not responsible in any manner whatsoever in case you lose, misplace or damage/mutilate/misuse the BPI.

20)   You hereby unconditionally agree to take all steps as instructed by Beam on cancellation of BPI.

21)   You shall promptly inform Beam of any change of your name, address, RMN, REM or any other data provided while becoming Beam Customer as also for the issuance of BPI.

22)   This agreement can be terminated by either party giving a written notice of thirty (30) days to this effect.

23)   Neither party hereto shall be liable to the other for its failure to comply with any of the covenants contained herein provided where such a failure is the result of the force majeure, interalia lockouts, strike, fire, floods, earthquakes, storm, act of God, governmental action, or any other reason beyond control of the parties ("Force Majeure").

24)   This arrangement cancels and supersedes any and all prior arrangements written or oral, expressed or implied between you and Beam.

25)   That any indulgence and or forbearance accorded to you by Beam shall not deemed to have modified and or forgone Beam's rights and remedies as contained in this agreement as amended and absolve you from discharging your obligations and duties contained in this agreement as amended.

26)   All disputes pertaining to BSA, BPI and transactions will be resolved by Beam and the decision of Beam in this regard shall be final.

27)   Beam reserves the its absolute right to modify, add/delete the terms and conditions, as amended, at its sole discretion without prior notice and any liability to any person.

28)   Any notice or intimation required to be given by either party shall be deemed to have been duly served if sent by electronic mail, registered post to the respective parties by their name and styles and address contained herein/in the application attached.

29)   In case of any dispute arising out of this agreement the same shall be settled through arbitration by a Sole Arbitrator. The Sole Arbitrator shall act as per the provisions of the Indian Arbitration and Conciliation Act 1996 as amended, and his decision shall be binding upon the parties. It is understood and agreed by both the parties that Chairman of Beam shall be the Persona Designata nominated by both you and Beam to nominate the Sole Arbitrator. The venue of arbitration shall be Delhi, India only and each party shall equally share the cost of the Sole Arbitrator unless awarded otherwise.

The arrangements under this Agreement are subject to the exclusive jurisdiction of Delhi Courts only. Further all transactions between the parties mentioned herein shall be deemed to have been made exclusively in Delhi only. Laws of India will only apply.