Disclaimer
IMPORTANT NOTICE
Chit Circle is a technology platform designed to help individuals and community groups organise and manage chit-related activities.
Chit Circle is not itself the chit owner, chit subscriber/member, financier, lender, bank, NBFC, investment adviser, insurer, guarantor, escrow agent or financial institution merely because you use the Platform.
Use of Chit Circle does not mean that Chit Circle recommends, approves, certifies or guarantees any chit, chit owner, member or financial arrangement.
1. NO FINANCIAL GUARANTEE
Chit Circle does not guarantee that a chit owner will pay, a member will pay, a member will receive money, a chit will be completed, a participant will remain solvent, a participant will act honestly, a particular bid will succeed, or any particular financial outcome will occur.
2. PERSONAL TRUST AND USER-TO-USER RELATIONSHIPS
Chit arrangements may be based on trust among individuals, families, friends, colleagues, businesses or community members. That trust exists between the participants, not between participants and Chit Circle. Chit Circle does not guarantee character, honesty, financial capacity, creditworthiness, solvency or future conduct.
3. NO RECOMMENDATION OR ENDORSEMENT
Listing or displaying a chit, group, owner or member does not constitute endorsement, recommendation, certification, credit assessment, financial assessment, guarantee or approval.
4. FINANCIAL LOSSES
To the maximum extent permitted by law, Chit Circle is not responsible for losses arising from non-payment, delayed payment, default, fraud, misrepresentation, insolvency, disputes, unsuccessful bidding, incorrect user instructions, inaccurate information, participant misconduct or other underlying participant relationships.
5. BIDDING AND AUTO-BIDDING
Online bidding and auto-bidding are technology features. No particular result, amount, win/loss outcome or financial benefit is guaranteed. Users are responsible for bidding rules and configured parameters.
6. INFORMATION AND CALCULATIONS
Schedules, amounts, bid information, reminders, records and calculations should be independently verified when financially important. Chit Circle does not guarantee information will always be complete, current, uninterrupted or error-free.
7. SMS AND NOTIFICATIONS
Delivery can be affected by telecom operators, network conditions, device settings, incorrect contact details and third-party failures. Users should not rely solely on notifications for important financial decisions.
8. NO CUSTODY OF USER MONEY
Unless expressly stated for a specific authorised service, Chit Circle does not hold chit money as a bank, escrow provider or custodian. Users should verify payment instructions and recipients.
9. LEGAL COMPLIANCE
The legality and regulatory requirements of a chit may depend on how it is structured and operated. Chit Circle does not represent that every chit created or managed using the Platform is automatically lawful or compliant. Owners and participants are responsible for obtaining appropriate advice and complying with applicable law.
10. PLATFORM ROLE
Chit Circle’s role is limited to providing technology and related services. Providing the Platform does not make Chit Circle a party to every transaction, agreement or financial relationship.
11. THIRD-PARTY SERVICES
The Platform may depend on telecom, SMS, cloud, authentication, payment, internet and other third-party services. Chit Circle does not guarantee uninterrupted third-party operation.
12. NO PROFESSIONAL ADVICE
Nothing on Chit Circle is financial, investment, legal, tax or other professional advice.
13. USER RESPONSIBILITY
Users are responsible for reviewing chit terms, verifying people they deal with, assessing financial risk, protecting credentials, checking important information, following applicable law and making their own decisions.
14. ACCEPTANCE OF RISK
By using Chit Circle, you acknowledge that technology-assisted management does not eliminate risks associated with dealing with other people. You voluntarily assume risks associated with participation, subject to rights that cannot legally be waived.
15. LIMITATION
Nothing in this Disclaimer excludes or limits liability that cannot legally be excluded or limited. This Disclaimer must be read together with the Chit Circle Terms & Conditions and Privacy Policy.
Chit Circle
Operated by LeenApps
Contact: support@leenapps.com
Registered Address: No.10 Mall, Pollachi - 642 002
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.