Welcome to Finwoven Innovations Private Limited (“Finwoven”, “we”, “our”, or “us”).
These Terms & Conditions (“Terms”) govern your use of the Finwoven App and its associated services.
1. About Finwoven
Finwoven Innovations empowers small garment manufacturers, traders, and handworkers by offering secure warehousing, liquidity support, and digital management tools.
2. Eligibility
To use Finwoven services, you must be at least 18 years old, possess a valid GSTIN or business proof, complete KYC verification, and agree to legally binding contracts digitally.
3. Account Registration & KYC
Users must provide accurate details including name, contact, business information, GSTN, and documents. Finwoven may suspend or reject accounts for fraudulent or incomplete information.
4. Warehousing & Rental Agreement
After goods are approved, a digital rental agreement will define assessed value, security fund (up to 60%), payment schedule, and penalties. Agreements are digitally signed using Aadhaar.
5. Payment Terms
Users must make payments as scheduled. Late payments attract penalties. Finwoven may issue automated reminders via app, WhatsApp, or email.
6. Default & Auction
If dues are unpaid after reminders, goods may be auctioned to recover outstanding amounts. Remaining proceeds will be refunded to the user’s account.
7. No Objection Certificate (NOC)
Once obligations are cleared, a digital NOC is issued. The NOC must be presented for goods release.
8. Risk, Insurance & Liability
All stored goods are insured under Finwoven’s warehouse policy. Liability is limited to the insured value. Finwoven is not liable for business interruption or indirect losses.
9. User Conduct
Users must not provide false information, misuse the platform, or attempt unauthorized access.
10. Intellectual Property
All software, content, and design in Finwoven are proprietary. Copying or reproduction is prohibited.
11. Termination
Finwoven may suspend or terminate accounts for breach, fraud, or legal compliance reasons.
12. Data Privacy
Finwoven protects your personal and business data per the Digital Personal Data Protection Act, 2023 (India). See our Privacy Policy below.
13. Limitation of Liability
Finwoven’s total liability shall not exceed the total rental value of goods in dispute.
14. Governing Law & Jurisdiction
These Terms are governed by Indian law. All disputes fall under Ludhiana, Punjab jurisdiction.
15. Contact Us
Finwoven Innovations Private Limited
Plot No 10, Guru Nanak Nirankari Colony, Nearby Bombay Tyre Road,
Basti Jodhewal, Ludhiana, Punjab 141008, India
Email: [email protected]
