Terms & Conditions

(in Compliance with SEBI RA Regulations)

1. Introduction

1.1. Parties

• Abhishek Jain Proprietor of Fincrave Capital (hereinafter "Research Analyst", "RA," "We," "Our," or "Us")
  • Registered with the Securities and Exchange Board of India (SEBI) under Registration No. INH000023232
  • Subject to all rules and regulations framed by SEBI, including the SEBI (Research Analysts) Regulations, 2014, as may be amended from time to time ("RA Regulations").
• Client or User ("You," "Your," or "Client")
  • The individual or entity subscribing to or availing research services.
  • Must meet the eligibility requirements set forth herein and under Indian law.

1.2. Purpose

• These Terms & Conditions ("T&C") govern the access and usage of research services provided to the Client by RA, including any content, updates and other services provided through digital platforms, mobile/web applications, or technology solutions that We operate.
• This contract discloses the minimum mandatory terms and conditions of the research services offered by the RA including Client's rights and obligations.

1.3. Compliance with SEBI Circular

• This document incorporates the minimum mandatory provisions contained in the SEBI circular SEBI/HO/MIRSD/MIRSD-PoD-1/P/CIR/2025/004 dated January 08, 2025 ("the Circular") and relevant amendments to the SEBI (Research Analysts) Regulations, 2014 ("RA Regulations").
• Neither any research service can be rendered by the RA, nor any fee can be charged until consent is received from the client on the terms and conditions.
• In case of conflict between these T&C and any applicable regulations/guidelines issued by SEBI, the SEBI regulations/guidelines shall prevail.

1.4. Contract Validity

• This contract remains valid unless and until a written/email request with a 30 day notice to terminate is received from the client or the RA must cancel the contract due to regulatory requirements without notice.
• The validity of this contract is not dependent on the client payment/subscription status for the research services provided by the RA.
• This contract applies to all future transactions with RA, including but not restricted to those carried out on https://fincravecapital.com.

2. Definitions

Unless the context otherwise requires, the following definitions apply in this T&C:

• "Client" or "User": Any person or entity that registers with the RA and agrees to these T&C to avail the Services. The term Client shall also include any person who is authorized to avail of the Services on behalf of the Client with either full rights or limited rights.
• "Services": Includes recommendations, research reports, data, model portfolios, or analyses pertaining to Indian-listed securities, any online or offline detailed research support, any communications related thereto, prepared in compliance with the applicable provisions of the RA Regulations and circulars/guidance issued thereunder, for which clients are paying a fee to the RA.
• "Digital Platform": Includes websites, mobile or web applications, or other technology platforms (including third-party service providers) used for delivering the Services.
• "KYC": Know Your Customer—verification process mandated by SEBI (and other applicable laws) to establish the identity of Clients.
• "RAASB": Research Analyst Administration and Supervisory Body. SEBI (Securities and Exchange Board of India) has granted "BSE Limited" recognition under Regulation 14 of the 'RA Regulations' for administration and supervision of Research Analysts ('RAs') as RAASB for a period of five years starting from July 25, 2024.

3. Scope of Services

3.1. Research-Only / No Execution

• The RA provides research and analysis only.
• We do not execute trades on behalf of Clients, hold Clients' funds, or provide any assured returns.

3.2. Model Portfolios

• Where offered, Our model portfolios are recommendations for basket(s) of securities with weightages. Such recommendations are for informational purposes and do not guarantee performance or returns.
• We will maintain compliance with SEBI's model portfolio guidelines (per the Circular's Annexure-A).

3.3. Use of Artificial Intelligence (AI)

• If We use AI tools (in whole or part) to generate or support research outputs, We remain solely responsible for the quality, accuracy, security, and confidentiality of data.
• We shall disclose the extent of AI usage to the Client when providing Services (or whenever material changes occur).

3.4. No Guarantee of Returns

• All investments carry market risk. Past performance is not indicative of future returns, and the RA does not assure or promise any specific gain or outcome.

3.5. Access

• The RA will endeavor to ensure that access to and availability of the Services remains uninterrupted and error free. However, access to the Website and/or Digital Medium from where Clients might be availing the Services may occasionally be suspended or restricted to allow for repairs, maintenance, or for the introduction of new facilities and Services and in such cases the RA shall not be liable for any disruption of any Services.

3.6. Provision of the Services

• The RA shall not be liable for the Client acting on any recommendation which is set out as part of its Services, other than as expressly provided in any deliverable.
• The RA does not engage in services such as profit sharing or representation that its Services guarantee a minimum return.
• Investments in securities markets are subject to risks and each Client shall assess its own risk appetite and profile prior to relying on the Services of the RA for making investment decisions.
• The RA shall render the Services on a best effort basis.

4. Eligibility

4.1. Legal Capacity

• Use of the Services shall be available only to persons who can enter into legally binding contracts under Indian Contract Act, 1872, where applicable. Persons who are "incompetent to contract" within the meaning of the Indian Contract Act, 1872 including minors, un-discharged insolvents, etc. shall not be eligible to use the Services.
• The Client represents and warrants that he/she is at least 18 years old, and all information submitted is true, accurate and complete while registering with the RA to avail the Services.

4.2. KYC Compliance

• Use of the Services shall be available only to persons who have their KYC Validated or KYC Registered. ("KYC Registered" in case of Non-resident Indians).
• RA shall verify and store such KYC data in accordance with SEBI regulations.
• RA will accept fees only after KYC status verification.
• The RA may terminate or suspend Services if KYC requirements are not met or if the information provided is incomplete, false, or misleading.

5. Registration & Accounts

5.1. Registration Process

• In order to avail the Services, the Client must be registered with the RA. By registering with the RA, Client agrees to provide true, accurate, current and complete information as required by the RA, failing which the RA may at any time cancel the Client's registration and terminate the Client's right to use or access the Website/Digital Medium and/or Services.
• The Client agrees to keep such information up to date at all times.

5.2. Security of Credentials

• Keep login information (username, password, etc.) confidential. You are liable for unauthorized use of your account due to negligence or sharing of credentials.
• Notify Us immediately if you suspect any breach.

5.3. Use of Services

• You agree not to reproduce, duplicate, copy, distribute, sell, resell or exploit any portion of the Services, use of the Services, or access to the Services or any contact on the Website and/or Digital Medium through which the Service is provided, without prior express written permission from the RA.
• Any unauthorized use is grounds for termination of Services and may lead to legal action.

6. Fees & Payment

6.1. Fee Structure and Client Acknowledgment

By giving consent (online/offline) to these T&C, You acknowledge and accept the following:

• The Research Analyst ("RA") shall adhere to the Securities and Exchange Board of India ("SEBI") guidelines concerning the charging of fees. As per SEBI regulations, the RA is permitted to charge fees, subject to a limit of one year in advance.
• The RA equity research services available on https://fincravecapital.com consist of investment recommendations published on a scheduled basis based on a proprietary quantitative model.
• For the products offered currently on the website for subscription (FOCUS & FEAST), these recommendations are released in the months of May and/or June. We only provide BUY/SELL/ADD recommendations.
• Being a proprietary quantitative model, our research reports do not include fundamental/technical factors or metrices for stock selection.
• RA reserves the right to change the services offerings including their names and structure in the future. RA may also convert the product offerings to a model portfolio in the future.
• The Client acknowledges and expressly agrees that:
  • The fee is charged for access to the RA's recommendations, per the release schedule, not exceeding SEBI regulatory limits.
  • The fee shall be paid as a one-time payment at the time of subscription.
  • No additional recommendations shall be provided outside the scheduled publication (except for exigent situations as identified by the RA), and no further payments shall be required until the subsequent publication.

6.2. Cancellation & Refund Policy

• Subscribers (i.e. Clients availing paid Service) can cancel their subscription at any time.
• Refunds, if any, will be governed by SEBI regulations.
• The RA may suspend or terminate rendering of research services to client on account of suspension/cancellation of registration of RA by SEBI and shall refund the residual amount to the client as per SEBI regulations.
• In case of suspension of certificate of registration of the RA for more than 60 (sixty) days or cancellation of the RA registration, the RA shall refund the fees for the unexpired subscription period, on a pro rata basis, for the period from the effective date of cancellation/ suspension to end of the subscription period.
• RA shall not charge any breakage fee to the Client.
• The Research Service Agreement may be terminated by the Client if the Research Analyst (RA) fails to provide the research recommendations. However, the Client cannot terminate the Agreement solely based on not achieving the desired returns or incurring losses from trading on the recommendations or not having utilized the recommendations.

6.3. Renewal Price

• Clients may renew their subscription by paying a fee as may be applicable at the time renewing their subscription.
• The RA may change the renewal fee at its sole discretion without prior notice to the Client.
• The only difference between renewal and a new subscription is that, for renewal, client does not have to go through the onboarding process.
• A client who has successfully completed the onboarding process shall be deemed a renewal client, notwithstanding any discontinuity or lapse in their subscription period.

7. Mandatory Terms & Conditions (as per SEBI Circular Annexure-B)

Below are the minimum mandatory T&C required by the Circular. These provisions are integral to Our agreement with You:

7.1. Availing the Research Services

• By accepting delivery of the Services, the Client confirms that he/she/it has elected to subscribe to the research service of the RA at his/her/its sole discretion.
• RA Confirms that Research Services are rendered in accordance with the applicable SEBI (Research Analysts) Regulations, 2014.
• The RA reserves the right to refuse any Service to anyone for any reason at any time.

7.2. Obligations on RA

• RA and client shall be bound by SEBI Act and all the applicable rules and regulations of SEBI, including the RA Regulations and relevant notifications of Government, as may be in force, from time to time.
• Further, the RA and the Client are bound by the terms contained herein.

7.3. Client Information & KYC

• The Client shall furnish all such details in full as may be required by the RA in a standard form with supporting details, if required, as may be made mandatory by BSE Ltd. (SEBI Recognised Administrative and Supervisory Body)/ SEBI, from time to time.
• The client consents to give permission to the RA for submitting and fetching his/her KYC records.
• RA shall collect, store, upload and check KYC records of the clients with KYC Registration Agency (KRA) as specified by SEBI from time to time.

7.4. Standard Terms of Service

By giving consent (online/offline) to these T&C, You acknowledge and accept the following:

• I/We have read and understood the terms and conditions applicable to a research analyst as defined under regulation 2(1)(u) of the SEBI (Research Analyst) Regulations, 2014, including the fee structure.
• I/We are subscribing to the research services for our own benefits and consumption, and any reliance placed on the research report provided by research analyst shall be as per our own judgement and assessment of the conclusions contained in the research report.

Further, You understand that:

• Any investment made based on the recommendations in the research report are subject to market risk.
• Recommendations in the research report do not provide any assurance of returns.
• There is no recourse to claim any losses incurred on the investments made based on the recommendations in the research report.

7.5. Mandatory Notice

The Client agrees to go through the terms (including the Do(s) and Don't(s)) as specified in the investor charter for research analysts, available on the website (https://fincravecapital.com) as contained in the SEBI Master Circular for Research Analysts (bearing no. SEBI/HO/MIRSD/MIRSD-PoD-1/P/CIR/2024/49 dated May 21, 2024), or as may be specified by SEBI from time to time.

7.6. RA's Declarations

• We are duly registered with SEBI as Research Analyst (Registration No. INH000023232) from 28-Jan-2021; BSE Enlistment No. 5427 and are compliant with the SEBI (Research Analyst) Regulations, 2014.
• Currently we have valid SEBI registration and have required qualification to render services contemplated under RA regulations.
• The RA's services do not conflict with or violate any law or regulation to which it is subject.
• We have no material adverse disciplinary history or any conflicts of interest that compromise the integrity of its recommendations.
• The maximum fee charged by us shall not exceed ₹1.51 lakhs per annum per family of clients. This cap may change based on updates to regulations by SEBI. In such cases, we will duly inform about the change to our clients.
• The recommendations provided by us do not provide any assurance of returns.
• We are not engaged in any additional professional or business activities, on a whole-time basis or in an executive capacity, which interfere with/influence or have the potential to interfere with/influence the independence of research report and/or recommendations contained therein.
• We have not outsourced any of its core research and compliance activities.

7.7. Consideration & Mode of Payment

• The Client shall duly pay to the RA, the agreed fees for the services that the RA renders to the Client and statutory charges, as applicable.
• Such fees and statutory charges shall be payable through the authorized, traceable and transparent manner and mode(s)/mechanism(s) provided by the RA and not via cash.
• RA shall not render any research services until the Client's consent is received and initial fees are paid (as applicable).
• The RA reserves the right to change the fee policy & payment terms applicable to such paid services. Changes to the fee policy & payment terms will be posted on the Website and/or Digital Medium and/or emailed to the Client's registered email ID and such changes shall become effective immediately after they are posted on the Website and/or Digital Medium and/or sent to the Client's email ID registered with the RA.

7.8. Optional Centralised Fee Collection Mechanism

• For fee collection, the RA has not yet opted for the Centralized Fee Collection Mechanism (CeFCoM), a designated platform/portal administered by a recognized Administration and Supervisory Body (BSE Ltd.). Adoption of CeFCoM is optional in nature, and the RA may choose to opt for this mechanism for fee collection at its discretion, based on applicable regulatory requirements from time to time.
• The CeFCoM is a transparent payment mechanism, which is being implemented in a phased manner depending on whether a research analyst has/ does not have an end-to-end digital process for client on-boarding, delivery of services to clients, payments of fees and other related processes. CeFCoM intends to inter alia provide the following advantages:
  • Provides additional recognition to a research analyst of being a registered intermediary.
  • Multiple modes for collection of fees from clients.
  • Intimation to a research analyst regarding when a client payment falls due.
  • Facility to schedule payment of fees as per convenience of the research analyst and its clients.
  • Master data of clients and their fee payment status.
  • Facility to track payment of fees by a client.

7.9. Risk Factors

• Investing in securities is subject to market risk, including but not limited to volatility and potential loss of principal.
• Past performance is no indicator of future performance, and no return is guaranteed.
• Registration granted by SEBI, Enlistment as RA and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors or reduce the risk of investing in stock markets.

7.10. Conflict of Interest

• RA shall adhere to the applicable regulations/ circulars/ directions specified by SEBI from time to time in relation to disclosure and mitigation of any actual or potential conflict of interest.
• RA will disclose any conflicts of interest as mandated by SEBI, and take steps to mitigate or avoid them.
• Full disclosures, if required, will be provided in each research report or at the time of providing recommendations. Full disclosures will also be made available on https://fincravecapital.com on the recommendations pages.

7.11. Termination of Service and Refund of Fees

• In case of suspension of certificate of registration of the RA for more than 60 (sixty) days or cancellation of the RA registration, the RA shall refund the fees for the unexpired subscription period, on a pro rata basis, for the period from the effective date of cancellation/ suspension to end of the subscription period.

7.12. Grievance Redressal & Dispute Resolution

• Any grievance related to non-receipt of research report or missing pages or inability to download the entire report, or any other deficiency in the research services provided by RA, shall be escalated promptly by the client to the person/employee designated by RA, in this behalf our designated Grievance Officer Abhishek Jain at admin@fincarve.com.
• The RA shall be responsible to resolve the grievance in a transparent and timely manner but not later than a period of 7 calendar days from the date of communication of such a grievance or such time period as may be prescribed by SEBI from time to time.
• If the grievance is not redressed satisfactorily, the Client may, in accordance with the SCORES guidelines, escalate the same through the SCORES Portal in accordance with the process laid out therein.
• Any dispute between the RA and his client may be resolved through arbitration or through any other modes or mechanism as specified by SEBI from time to time. The Client can initiate dispute resolution through the Online Dispute Resolution portal, a dispute resolution mechanism that includes mediation and/or conciliation and/or arbitration, in accordance with the procedure specified by SEBI.

7.13. Additional Clauses

All additional voluntary clauses added by the RA shall not be in contravention with rules/ regulations/ circulars of SEBI. Any changes in such voluntary (new) clauses/document(s) shall be preceded by a notice of 15 days.

7.14. Most Important Terms & Conditions (MITC)

MITC are standardised by Industry Standards Forum (ISF) in consultation with SEBI and RAASB. MITC may undergo change as they are reviewed based on industry feedback or changes in regulations. As and when MITC are updated, RA will ensure that the latest version is shared with the client. MITC are available on RA website at https://fincravecapital.com/mitc

• These terms and conditions, and consent thereon are for the research services provided by the Research Analyst (RA) and RA cannot execute/carry out any trade (purchase/sell transaction) on behalf of, the client. Thus, the clients are advised not to permit RA to execute any trade on their behalf.
• The fee charged by RA to the client will be subject to the maximum amount prescribed by SEBI/ Research Analyst Administration and Supervisory Body (RAASB) from time to time (applicable only for Individual and HUF Clients).

  Note:

  • The current fee limit is Rs 1,51,000/- per annum per family of client for all research services of the RA.
  • The fee limit does not include statutory charges.
  • The fee limits do not apply to a non-individual client / accredited investor.
• RA may charge fees in advance if agreed by the client. Such advance shall not exceed the period stipulated by SEBI; presently it is one year. In case of pre-mature termination of the RA services by either the client or the RA, the client shall be entitled to seek refund of proportionate fees only for unexpired period.
• Fees to RA may be paid by the client through any of the specified modes like cheque, online bank transfer, UPI, etc. Cash payment is not allowed. Optionally the client can make payments through Centralized Fee Collection Mechanism (CeFCoM) managed by BSE Limited (i.e. currently recognized RAASB).
• The RA is required to abide by the applicable regulations/ circulars/ directions specified by SEBI and RAASB from time to time in relation to disclosure and mitigation of any actual or potential conflict of interest. The RA will endeavor to promptly inform the client of any conflict of interest that may affect the services being rendered to the client.
• Any assured/guaranteed/fixed returns schemes or any other schemes of similar nature are prohibited by law. No scheme of this nature shall be offered to the client by the RA.
• The RA cannot guarantee returns, profits, accuracy, or risk-free investments from the use of the RA's research services. All opinions, projections, estimates of the RA are based on the analysis of available data under certain assumptions as of the date of preparation/publication of research report.
• Any investment made based on recommendations in research reports are subject to market risks, and recommendations do not provide any assurance of returns. There is no recourse to claim any losses incurred on the investments made based on the recommendations in the research report. Any reliance placed on the research report provided by the RA shall be as per the client's own judgement and assessment of the conclusions contained in the research report.
• The SEBI registration, Enlistment with RAASB, and NISM certification do not guarantee the performance of the RA or assure any returns to the client.
• For any grievances,

  Step 1: the client should first contact the RA using the details on its website or following contact details:

  • Designated Grievance Officer Abhishek Jain at admin@fincarve.com

  Step 2: If the resolution is unsatisfactory, the client can also lodge grievances through SEBI's SCORES platform at www.scores.sebi.gov.in

  Step 3: The client may also consider the Online Dispute Resolution (ODR) through the Smart ODR portal at https://smartodr.in

• Clients are required to keep contact details, including email id and mobile number/s updated with the RA at all times.
• The RA shall never ask for the client's login credentials and OTPs for the client's Trading Account Demat Account and Bank Account. Never share such information with anyone including RA.

8. Investment Disclosures

• The Services as provided by the RA shall not be construed to be solicitation of an investment. The decisions of the Client with respect to their investments shall be done basis their risk appetite and risk tolerance levels and the Services shall be utilized as one of the variables to make investment decisions. It is abundantly clarified by the RA that past returns are not indicative of guaranteed future returns and the Services rendered always remain subject to market risk.
• The information as provided on the Website and/or Digital Medium, which includes index value, return numbers and rationale are for informational and illustration purposes only and are only provided by RA when the client requests for the same. These metrics shall not be relied upon by the Client in any form or manner and should not be considered as advertisement or solicitation. Any graphical representations, including charts, performance numbers etc. are calculated vide standard methodology and do not include the impact of transaction fee and other related costs, unless specifically mentioned.
• The data used by the RA in the methodologies for calculations as stated above are obtained from third-party providers and such data is not authenticated, validated nor audited by the RA and the RA shall not be liable for any deficiencies with respect to such data and the Services provided basis the same.

9. Confidentiality & Data Protection

9.1. Privacy of Client Data

• We respect Your privacy and will not share or disclose Your personal data except as required by law or to fulfill regulatory obligations (e.g., KYC checks).
• However, We may share aggregated or anonymized data for research or compliance purposes, without revealing individual identities.

9.2. Security of Client Data

• While We endeavor to protect data transmissions, We cannot guarantee the complete security of data over the internet.
• Subject to the provisions stated herein and as specified by the RA from time to time, the Client will not hold the RA liable in case of any improper/fraudulent/unauthorized/ duplicate/erroneous use of the Client's mobile and/or the web-based access. The RA will also not be liable for any consequences connected with the use/ misuse of the Client's mobile/ email account by any third party. If any third parties gain access to the Services, the Client will be responsible and shall indemnify the RA against any liability, costs or damages arising out of such misuse / use by third parties based upon or relating to such access and use, or otherwise.
• The Client shall be fully and solely liable for:
  • any unauthorised use of his mobile/ email account; and/or
  • all authorised transactions on his mobile/email account.
• The Client understands that the Client's content and data may be transferred unencrypted and involve:
  • Transmissions over various networks; and
  • Changes to conform and adapt to technical requirements of connecting networks or devices.

9.3. Disclosure of Client Information

• The RA may access, preserve and disclose any of Client's information if required to do so by law, or if the RA believes in good faith that it is reasonably necessary to respond to claims asserted against the RA or to comply with the legal process, for fraud prevention, risk assessment, investigation, Client support, product development and debugging purposes, or protect the rights, property or safety of the RA, its Clients or members of the public.
• The RA may further engage agents and / or third-party vendors/partners for carrying out the acts (to the extent permissible under applicable law) in relation to rendering its Services. The Client consents to the sharing of their information with such authorized agents and/or third party vendors/partners engaged by the RA from time to time.

10. Limitation of Liability

10.1. Limited Liability

• The Client acknowledges and agrees that, to the maximum extent permitted by law, the entire risk arising out of the Client's access to and use of the Website and/or Digital Medium and/or Services, remains with the Client.
• The RA shall not be liable with respect to providing or delivering the Services for any incidental, special, exemplary or consequential damages, including lost profits, loss of data or loss of goodwill, service interruption, loss of monies pursuant to any of the Services, computer damage or system failure or the cost of substitute services, or in connection with these terms, as a result of the Client's use of the Website and/or Digital Medium and/or Services, whether based on warranty, contract, tort (including negligence), product liability or any other legal theory, and whether or not the RA has been informed of the possibility of such damage, even if a limited remedy set forth herein is found to have failed of its essential purpose.
• The liability of the RA towards the Client shall be limited to the fees as received by the RA for rendering Services to the Client, for a period of 12 preceding months from the date on which the claim in relation to actions of proven fraud, gross negligence, willful default in connection with discharge of duties of the RA.

10.2. No Assured Returns

• We shall not be liable for any direct, indirect, incidental, or consequential losses, including lost profits, due to Your reliance on Our research reports or model portfolios.

10.3. Force Majeure

• The RA is not liable for failures or delays in performance arising from events beyond its control, including natural disasters, power outages, or disruptions in telecommunication systems.

10.4. Third-Party Data

• We rely on third-party market data providers. We do not audit or guarantee the correctness of such data, and shall not be held liable for inaccuracies.

11. Indemnification

• You agree to defend, indemnify, and hold us harmless, including our subsidiaries, affiliates, and all of our respective officers, agents, partners, and employees, from and against any loss, damage, liability, claim, or demand, including reasonable attorneys' fees and expenses, made by any third party due to or arising out of: (1) your Contributions; (2) use of the Website and/or our services; (3) breach of these Terms and Conditions; (4) any breach of your representations and warranties set forth in these Terms and Conditions (5) your violation of the rights of a third party, including but not limited to intellectual property rights; or (6) any overt harmful act toward any other user of the Website with whom you connected via the Website.
• Notwithstanding the foregoing, we reserve the right, at your expense, to assume the exclusive defense and control of any matter for which you are required to indemnify us, and you agree to cooperate, at your expense, with our defense of such claims. We will use reasonable efforts to notify you of any such claim, action, or proceeding which is subject to this indemnification upon becoming aware of it.

12. Suspension & Termination

12.1. Suspension

The RA shall have the right to indefinitely suspend or block access to the Client's account on the Website and/or Digital Medium and/or any other platform used by the Client to consume services offered by the RA and refuse to provide the Client access to the Website and/or Digital Medium if:

• the Client engages in or is suspected of engaging in any illegal, fraudulent or abusive activity; or
• the Client provides any information that is untrue, inaccurate, not current or incomplete in any respect or the RA has reasonable grounds to suspect that such information is untrue, inaccurate, not current or incomplete, or not in accordance with these Terms.
• the Client is engaged in spreading mis-information, market rumors, unauthorized distribution of research/other services of RAs or any other such similar misconducts.
• the Client breaches any material term of this document.
• the Client is admitted into liquidation (except a voluntary liquidation for the purpose of reconstruction or amalgamation) or commits any act of bankruptcy or if a receiver is appointed in respect of any assets of the Client.

12.2. Termination

• The Terms shall remain in force till terminated. This arrangement may be terminated by either Party by giving a 30 days prior written notice.
• In the event that the Client breaches these Terms or in the event that any other Client or a third party reports violation of any of its rights as a result of the Client's use of the Services, the RA reserves the right, to suspend or terminate such Client's access to the Service with or without notice, and to exercise any other remedy available under the law.
• We may terminate this Agreement and client subscription immediately upon:
  1. Violation of T&C by You.
  2. Directions from SEBI or any competent regulatory authority.
  3. Non-payment of fees (beyond the grace period, if any).
  4. KYC Failure, invalid KYC details provided.
  5. Any rejection case per AML & Customer Due Diligence Policy.
  6. Belongs to SEBI debarred list.
• The refund policy pertaining to cancellation of services by the Client shall be governed by the Cancellation Policy, Section 6 above.

12.3. Pausing Services by Client

• The Client may, if they so desire, choose to pause the receipt of the Services. In such a case, while the Services will continue to be rendered to the Client until the end of the period for which the fee has been paid ("Payment Period").
• The agreement shall remain in force even when client has paused the receipt of the Service.
• The Client may, subsequently, will have to resume such Services by paying a fee as may be applicable at the time of such resumption of Services.

13. Miscellaneous

13.1. Trademarks

• The RA name, logo, the names of individual Service(s) and their logos are trademarks of the RA. The Client agrees not to display or use, in any manner, the RA trademarks, without the RA's prior permission.

13.2. Amendments

• We may modify or update these T&C in accordance with SEBI regulations. Notice of material changes will be posted on Our website/app or emailed to You. Continued use of the Services indicates Your acceptance of updated T&C.

13.3. Severability

• If any provision is held invalid by a competent authority, the remaining provisions shall continue in effect.

13.4. Governing Law & Jurisdiction

• These T&C shall be governed by and construed in accordance with the laws of India, and any disputes shall be subject to the exclusive jurisdiction of the courts/tribunals in Pune, Maharashtra or as directed by SEBI.

13.5. No Agency

• Nothing in these T&C shall be deemed to constitute a partnership, agency, or joint venture between the RA and the Client.

13.6. Disclaimer of Warranties

• The Client expressly understands and agrees that the use of the Services is at their sole risk. The Services are provided on an as-is-and-as-available basis.
• The RA expressly disclaims all warranties of any kind, whether express or implied, including, but not limited to, the implied warranties of merchantability and fitness for a particular purpose.
• The RA makes no warranty that the Services will be uninterrupted, timely, secure, or error free.
• Use of any material downloaded or obtained through the use of the Services shall be at the Client's own discretion and risk and they will be solely responsible for any damage to their computer system, mobile telephone, wireless device or data that results from the use of the Services or the download of any such material.
• We disclaim all warranties of any kind, whether express or implied, including, without limitation, any warranties of completeness, reliability, accuracy, adequacy, updation, fullness, functionality, timeliness, performance, the certainty of returns of the products, services, data analysis, information, opinions, statements, materials, and views on the Website.
• Our Website may contain information, material, views, data or information submitted by users and/or third party websites/sources. We accept no responsibility for accuracy of such content. Users are advised to use their discretion at all times while taking any investment or other decisions.

13.7. General Terms

• The RA reserves the right to amend these Terms contained herein by posting the revised terms on the Website and/or Digital Medium and/or by way of email, by giving a notice of 15 days.
• The RA may change or discontinue, temporarily or permanently, any feature or component of the Services at any time without prior notice to the Client. The RA shall not be liable to the Client or to any third party for any modification, suspension or discontinuance of any feature or component of the Services. The RA reserves the right to determine at its own discretion, the timing and content of software updates, which may be automatically downloaded and installed by an application without any prior notice to the Client.
• The Client hereby accepts that he may, from time to time, receive from the RA or its affiliates or partners, communications such as service announcements, advertisements or administrative communications.
• Any link on the Website to a third-party site is not an endorsement of that website. The use or browsing by a Client of any other website shall be subject to the terms and conditions in each such website.
• The RA shall not be liable for any unauthorised access to the Client's data or any unauthorized transmissions sent through the Services.
• The Client shall not (whether online or otherwise) describe itself as an agent or representative of the RA or make any representations to any other Client or any third party or give any warranties which may require the Company to undertake or be liable for, whether directly or indirectly, any obligation and/or responsibility to any other Client or any third party.
• The RA shall not be liable for any breach of these general Terms due to any force-majeure event such as act of god, fire, lightning, explosion, flood, inclement weather conditions, power failures, epidemic, pandemic, failure in any communication systems, equipment breakdown, strikes, lock-out or any other cause beyond the control of the Company.

Neither any research service will be rendered, nor any fee will be charged until consent is received from client on these terms and conditions.

14. About Fincrave Capital

Abhishek Jain, the proprietor of Fincrave Capital, is a SEBI Registered Research Analyst. We offer quantitatively curated stock recommendations for subscription.

Our proprietary quantitative model, "Expectations Value Model" (EVM) uses the combinations of company's financial performance, derived market expectations and quantitative assessment of company's ability to meet these expectations to identify stock recommendations.

We DO NOT offer personalized financial planning, nor do we engage in distribution of any financial products. Building quantitative models is our passion and subscription to our research/recommendations, our only business.