Terms and Conditions
These Terms & Conditions govern access to and use of the Chit Circle website, mobile application and related services, operated by LeenApps, No.10 Mall, Pollachi - 642 002.
By creating an account, accepting an invitation, joining a group, accessing or using the Platform, you agree to these Terms. If you do not agree, do not use Chit Circle.
1. IMPORTANT NOTICE
Chit Circle is a technology platform that provides tools for individuals and community groups to organise and manage chit-related activities.
Chit Circle does not, merely by providing the Platform, become a chit owner, chit member, financier, lender, bank, NBFC, investment adviser, insurer, guarantor, escrow agent or financial institution; collect or hold chit contributions; guarantee contributions or payouts; guarantee participant conduct or solvency; provide investment/financial advice; or become a party to every underlying financial relationship.
Users must independently assess the people and arrangements with whom they deal.
2. ELIGIBILITY
Users must be legally capable of entering binding agreements, satisfy applicable age requirements, be legally permitted to participate in the relevant arrangement, provide accurate information, and use the Platform lawfully.
3. ACCOUNT REGISTRATION
Users may register using mobile number, OTP, PIN or other authentication. Users must provide accurate information, protect credentials, not share authentication credentials, report suspected unauthorised access, and remain responsible for account activity subject to applicable law.
4. INVITATIONS AND MEMBERSHIP
An invitation does not constitute an endorsement, financial recommendation, guarantee or certification by Chit Circle. Recipients decide independently whether to join.
5. CHIT OWNER RESPONSIBILITIES
Owners are responsible for ensuring that their chit and its operation comply with applicable laws, including required registrations/permissions; establishing lawful terms; participant selection; communications; records; collections; payments; defaults; disputes; taxes; and regulatory compliance. Chit Circle does not assume these responsibilities merely because the owner uses the Platform.
6. MEMBER RESPONSIBILITIES
Members must review the chit terms, understand financial obligations, assess the owner and other members, provide accurate information, make required payments, follow agreed rules, protect account security and raise disputes with the appropriate party.
7. UNDERLYING FINANCIAL RELATIONSHIP
The underlying financial relationship is between relevant participants/entities. Chit Circle is not responsible for participant non-payment, delayed payment, payout failure, insolvency, fraud, misrepresentation, disputes, recovery of money or participant misconduct, except to the extent liability cannot lawfully be excluded.
8. BIDDING
Where online bidding is available, Chit Circle provides technology to facilitate bidding. Users are responsible for understanding bidding rules and verifying important information. No particular bid outcome is guaranteed.
9. AUTOMATED BIDDING
Where enabled, auto-bidding performs actions according to user-configured instructions and parameters. Users are responsible for maximum bid amounts and reviewing instructions. Chit Circle does not guarantee a particular outcome and, subject to applicable law, is not responsible for consequences of incorrect instructions, failure to update instructions, network failures, outages or third-party failures outside reasonable control.
10. RECORDS AND CALCULATIONS
Schedules, balances, bid information, reminders and calculations are technology-assisted records and should be independently checked when financially important. Users should report apparent errors.
11. PAYMENTS AND MONEY
Unless expressly stated otherwise for a specific authorised service, Chit Circle does not hold chit money as a bank, escrow service or custodian. If third-party payment functionality is offered, the relevant provider’s terms may apply and Chit Circle does not guarantee uninterrupted payment processing.
12. NO FINANCIAL ADVICE
Nothing on the Platform constitutes financial, investment, legal, tax, credit or insurance advice or a recommendation to participate in a particular chit.
13. NO GUARANTEE OF PARTICIPANTS
Chit Circle does not guarantee honesty, financial capacity, creditworthiness, solvency, future conduct, ability or intention to pay, legality of an individual arrangement, or future performance. Verification, if performed, is for Platform security/administration and is not a financial guarantee.
14. USER CONTENT
Users remain responsible for content they submit. Content must not be unlawful, fraudulent, impersonating, infringing, privacy-violating, malicious, knowingly false, or used to facilitate unlawful financial activity. Chit Circle receives a limited right to process/display content as reasonably necessary to provide the Platform.
15. PROHIBITED ACTIVITIES
Users must not use the Platform unlawfully; create fraudulent groups; impersonate; manipulate bidding; interfere with accounts; bypass security; reverse engineer except where legally permitted; introduce malware; scrape without permission; misuse participant information; spam/harass; facilitate money laundering/fraud; violate chit/financial laws; or falsely represent Chit Circle as a guarantor or financial counterparty.
16. USER DISPUTES
Underlying disputes should generally be resolved by the relevant participants. Chit Circle may provide records or technical assistance where appropriate but does not thereby become a party to the dispute.
17. PLATFORM AVAILABILITY
The Platform may be unavailable because of maintenance, updates, technical problems, network/telecom/cloud failures, third-party failures, cyber incidents, force majeure or other circumstances outside reasonable control.
18. THIRD-PARTY SERVICES
The Platform may rely on third-party services. Chit Circle is not responsible for failures or actions of third parties outside reasonable control.
19. INTELLECTUAL PROPERTY
The Platform, software, design, branding, logos, interfaces, content and technology belong to Chit Circle or licensors. Users receive a limited, non-transferable, revocable right to use the Platform for its intended purpose.
20. SUSPENSION AND TERMINATION
Chit Circle may suspend, restrict or terminate accounts/groups for Terms violations, suspected fraud/unlawful activity, security threats, false information, misuse, lawful authority requests or material risk. Immediate action may be taken where necessary.
21. DISCLAIMER OF WARRANTIES
To the maximum extent permitted by law, the Platform is provided on an “as is” and “as available” basis. We do not guarantee uninterrupted availability, error-free operation, accuracy of all information, SMS delivery, bidding/auto-bidding execution, third-party operation, data preservation or any financial outcome.
22. FINANCIAL LOSS
Participation in a chit involves financial risk. Chit Circle does not guarantee against loss, non-payment, delayed payment, default, fraud, insolvency, disputed amounts, unsuccessful bidding, incorrect instructions or participant misconduct. Users must independently assess and accept relevant risks.
23. LIMITATION OF LIABILITY
To the maximum extent permitted by law, Chit Circle shall not be liable for indirect, incidental, special, consequential, exemplary or punitive damages, or loss of profits, business opportunities, goodwill, data or anticipated savings arising from use of the Platform. Chit Circle shall not be liable for losses primarily arising from another user’s conduct, the underlying chit, non-payment, fraud, inaccurate information, incorrect instructions, third-party services, telecommunications/internet failures, force majeure or circumstances outside reasonable control.
To the maximum extent permitted by law, aggregate liability arising from the Platform shall be limited to the amount actually paid by the relevant user to Chit Circle for Platform use during the 12 months preceding the event, or INR 10,000, whichever is lower.
Nothing excludes liability that cannot legally be excluded or limited.
24. INDEMNIFICATION
To the maximum extent permitted by law, users agree to indemnify Chit Circle, its owners, directors, employees, contractors and service providers against claims/losses arising from violation of Terms, unlawful use, fraud, misuse of personal information, IP infringement, underlying chit activities, inaccurate information or violation of law.
25. FORCE MAJEURE
Chit Circle is not responsible for delay/failure caused by events beyond reasonable control including natural disasters, war, terrorism, government actions, regulatory restrictions, epidemics, telecom/internet/power failures, cloud failures, cyberattacks, strikes and extraordinary events.
26. CHANGES TO PLATFORM
Features may be modified, suspended or discontinued due to development, operational, legal or regulatory requirements.
27. CHANGES TO TERMS
We may update these Terms. The latest version will be published with a revised date. Where required by law, additional notice or consent will be provided. Continued use after the effective date constitutes acceptance to the extent permitted by law.
28. GOVERNING LAW
These Terms are governed by the laws of India, subject to mandatory legal provisions. Courts at Pollachi, Coimbatore, India shall have jurisdiction, subject to mandatory jurisdictional requirements.
29. SEVERABILITY
If a provision is invalid or unenforceable, it will be modified/severed to the minimum extent necessary and the remaining Terms continue.
30. ENTIRE AGREEMENT
These Terms, Privacy Policy, Disclaimer and incorporated policies constitute the agreement governing use of Chit Circle.
31. CONTACT
LeenApps
Registered Address: No.10 Mall, Pollachi - 642 002.
Email: support@leenapps.com
Website: https://leenapps.com/products/chit-circle
32. ELECTRONIC ACCEPTANCE
By clicking “I Agree”, creating an account, joining a group, accepting an invitation or otherwise using Chit Circle, you acknowledge that you have read, understood and agreed to these Terms.
Chit Circle
Operated by LeenApps
This document is provided by Chit Circle as reference legal content. Please have it reviewed by qualified legal counsel and confirm applicable dates and jurisdiction-specific requirements before publishing it live.