Terms & Conditions

Rent Payment, Fine and Other Collection Policy

Place: Kolkata, West Bengal, India

As updated on: Thursday, 13 February 2025.

This document is an electronic record in terms of Information Technology Act, 2000 and rules thereunder as applicable and the amended provisions pertaining to electronic records in various statutes as amended by the Information Technology Act, 2000. This electronic record is generated by a computer system and does not require any physical or digital signatures. By clicking on the “I ACCEPT” button on this electronic contract, you/user are consenting to be bound by this Agreement. Please ensure that you read and understand all the provisions of this document before you start using the IVY NEST, as you shall be bound by all the terms and conditions herein upon clicking on the “ACCEPT & CONTINUE” button on this electronic contract. If you do not agree or accept any of the Terms and Conditions contained herein, then please do not use the IVY NEST’s digital platform or avail any of the services being provided therein.

The Platform is owned by Ivy Nest Apartments under the brand name "Ivy Nest ". Ivy Nest Apartments operates, controls and manages the Services as defined below.:

1. Definitions & Interpretations

• “Platform” The Ivy Nest Apartments Website and Mobile Applications are jointly referred as Platform.
• User (An individual or a firm who are registered as an end user/client to Ivy Nest Apartments)
• "Password" means a secret word or phrase or code or passphrase or secret key, sockets or encryption or decryption keys that one uses to gain admittance or access to information.
• “Affiliate/s” means, with respect to either Party, mean any person, company, corporation, association, or entity, which directly or indirectly Controls, is Controlled by, or is under common Control of such Party. “Control” means the possession, directly or indirectly, of the power to direct or cause the direction of the affairs, management and policies of a Party, and/or to control the composition of its board of directors (or equivalent), whether through ownership of voting securities, contract or otherwise. The terms “controlled” and “controlling” shall be construed accordingly.
• “Applicable Laws” or “Laws” includes all applicable statutes, enactments, acts of legislative or Parliament, laws, ordinances, rules, bye-laws, regulations, notifications, guidelines, policies, directions, directives and orders of any government, statutory authority, tribunal, board, court or recognized stock exchange of competent jurisdiction.
• “Authorized User” means employees or agents of Customer (or Affiliates or other individuals solely to the extent explicitly permitted in an Order Form) selected by Customer to access and use the Platform Services.
• "Confidential Information" means any and all data or information that is of value to the Company and is not generally known in the industry or to competitors of the company and includes, but is not limited to, business information, business plans, financial statements, specifications, research, software, trade secrets, discoveries, ideas, know-how, designs, drawings, flow charts, data, computer programs, marketing plans, customer names, budget figures, and other technical, financial and business information concerning the Company or any such information of clients, customers, affiliates, subsidiaries or agents which is disclosed by Company, whether directly in oral or material form, or indirectly.
• “Data” includes but is not limited to any kind of Personal Information, Pictures, Graphs, Business Information, Financial Reports, Technical Information, Usage Reports, IP Addresses, Customer Information, Supplier Information, Product Information or any other materials or that is generated by the execution of this Policy and in the due course of usage of the Portal.
• “Effective Date” shall mean the date of signing of this Policy.
• “Force Majeure” shall means (without any limitation) any act of God, strikes, lockouts or other industrial disturbances, acts of the public enemy, acts of terrorism, wars, blockades, insurrections, riots, epidemics, landslides, lightning, earthquakes, fires, storms, floods, washouts, arrest and restraints of governments and people, civil disturbances, and explosions, any change/repudiation of act, rules, regulations, bye-laws, policies, which are applicable on the Policy or any reason beyond the control of the Parties hereto effecting the performance of the obligations under this Policy.
• “Intellectual Property” shall mean and include without limitation, all of the following items, regardless of the form or medium involved (e.g., paper, electronic, tape, tangible or intangible): copyrights, patents, patent applications, trade secrets, the business format or other intellectual property rights upon or in relation to the Business, Brand and all other information, materials, and copyrightable or patentable subject matter developed, acquired, licensed, or used within the scope of this Policy.
• “Term” shall mean a period which is prescribed under the clauses of this Policy from the date of execution of this Policy.
• Interpretation
  In this Policy: words importing the singular include the plural and vice versa; words denoting the masculine gender shall include the feminine gender and neuter gender; a person includes a natural person, corporate or unincorporated body (whether or not having separate legal personality); unless stated otherwise the words "include" and "including" shall be construed without limitation; all reference to statutes shall include any modification, re-enactment or extension thereof for the time being in force; a reference to a clause, annex, annexure, appendix or schedule is a reference to a clause of or an annex, annexure, appendix or schedule to this Policy. Schedules shall form part of this Policy and shall have effect as if set out in full in the body of this Policy. the headings and bold typeface are only for convenience and shall be ignored for the purpose of interpretation of this Policy; a disclosure of an item in writing referring to a specific Clause of this Policy or specific Clauses of any Schedules and/or Annexure shall be deemed to be a disclosure only for the purposes of that clause and not for the purposes of any other provision of this Policy; and where a word or phrase is defined, other parts of speech and grammatical forms of that word or phrase shall have the corresponding meanings.

2. General Terms and Conditions

• All references to "you" or "your" or “user” as applicable, mean the person that accesses, uses, and/or participates in the Platform in any manner.
• By using the platform, you agree to be bound by the Terms of use, Privacy Policy and Payment Terms (defined below) published over Ivy Nest Apartments Website www.ivynestapartments.com
• You are solely responsible for safeguarding your Ivy Nest Apartments password and, if applicable, your Third-Party Site Password (collectively, "Passwords") at all times. You shall be solely responsible for all activity that occurs on your Account and you shall notify Ivy Nest Apartments immediately of any breach of security or any unauthorized use of your Account. Similarly, you shall never use another member’s Account without Ivy Nest Apartment’s permission. You agree that you will not misrepresent yourself or represent yourself as another user of the Platform and/or the Services offered through the Platform.
• You hereby expressly acknowledge and agree that you yourself and not Ivy Nest Apartments will be liable and responsible for consequential, sequential or any other type of losses, damages etc. (whether direct or indirect) caused by an unauthorized use of your Account. Notwithstanding the foregoing, you may be liable for all the losses of Ivy Nest Apartments or its subsidiaries, joint holders or any other Party related to Ivy Nest Apartments due to such unauthorized use.
• You shall be responsible for uploading various details like scan copy of PAN card and other payment details/ bank account details and also for the authenticity and verification of information. Ivy Nest Apartments shall not have any direct, indirect responsibility and shall not be held liable in case incorrect information provided by any User.

3. Fee and Payment

• The Licensee shall pay for all subscription fees, and hereby authorizes the Licensor to debit from its bank account or charge Licensee’s credit card, as stated on Licensee’s channel subscription and billing page.
• The Licensee agrees that all subscriptions are recurring and will be renewed automatically.
• The Licensee shall also be solely responsible for paying and remitting to the appropriate tax authorities all applicable taxes (withholding tax, Goods and Service Tax (GST), etc.) or duties imposed by any Government entity or collecting agency on all such subscriptions as applicable to the Licensee.
• In case the Licensee fails to satisfy its/their tax and/or duty obligation herein, the Licensee shall reimburse the Licensor upon demand for any taxes and/or duties paid by the Licensor on behalf of the Licensee and shall defend, indemnify the Licensor from any claims in respect thereof, and the Licensee shall hold the Licensor harmless against any claim and/or liability (including penalties) resulting from Licensee’s failure to pay such taxes and/or duties.
• The Company will be obliged to make a payment within 7 day of that month from the commencement of the services or Delivery of the goods. However, the Company shall make a payment in advance by using the card or bank transfer or any other valid mode, if it deemed necessary. The User agrees to pay their tax dues as and when they arise. These may include but are not limited to any kind of Direct, Indirect, Custom, Duty or any other kind of charge that may be levied by the authorities as per the Indian Taxation Laws.

4.Third Party Charges

• The Licensee shall directly pay the fees and charges for all third-party Users whose services (e.g., internet access providers, telephone curries, etc.) have been utilized by the Licensee.
• In addition to any fees charged by the Licensor, the Licensor reserves the right to charge the Licensee for any regulatory or governmental fee, contributions, or other chargers that are legally required or assessed to paid by the Licensee for the services availed by the Licensee.

5. Payments by e-Mandate

• About E-NACH
  • E-NACH (e-Mandate) services are started by NPCI (National Payments Corporation of India).
  • Movement of mandate electronically between the Bank with the attributes of customer authentications.
  • Creation of an authenticated mandate by the customer himself through electronic channel.
  • Shorter and assured mandate acceptance.
• Benefits of E-NACH (e-Mandate)
  • Reduction of processing TAT at Bank end.
  • Eliminating mandate rejection on account of signature differences.
  • End to end automation.
  • Elimination of the movement of physical mandate.

6. Guarantor Account

• The Guarantor has to confirm/approve/guarantee to the Licensor that if the Licensee fails or would not be in a position to pay the Licensor’s due and outstanding amount by any means or under any circumstances whatsoever, the Guarantor shall be liable to pay and clear the dues without any dispute or objection whatsoever.
• Payment will be automatically deducted from the Guarantor’s Account after two times of failures by Licensee’s Account.
• The Guarantor can cancel its guarantor ship, with valid reasons and prior intimation by mailing the Licensor on accounts@ivynestapartments.com.
• Almost anyone can be a Guarantor. It's often a parent, spouse (as long as the Guarantor has a separate bank account(s)), sister, brother, uncle or aunt, friend, or even a grandparent. However, one should only be a Guarantor for someone you trust and are willing and able to cover/commit/have resources for the repayments on behalf of the Licensee.
• The Guarantor must submit its KYC (Like PAN, Aadhar Card, etc.) and other details as required or called for via digital portal.

7. Terms and Conditions for Rent

• Rent should be paid in advance till 4th of every month via E-NACH process.
• In case of payment of rent after 5th of the month, 10% of the rent amount of that month will be charged as late fine.
• No part payment will be accepted under any situation.
• The Rent once received and paid for the month is non-refundable and shall not be refunded.
• If the Licensee does not vacate the property/apartment/premises till 5th of that month, then the Licensee shall be liable to pay the rent of that running month.
• Part payment will be accepted only when it is in the sharing Policy.
• The Licensee is not liable to pay the rent for the roommate under any situation, unless the Licensee is willing to do so out of its own will.
• Property/apartment/premises rent will vary from location to location.
• Property/apartment/premises rent is subject to midterm review depending on market situations, abnormal increase in costs and/or market driven forces.
• In case of existing Licensee, Property/apartment/premises rent is subject to change on quarterly/half yearly/yearly basis based on Licensor's internal policy on rentals.
• In case the revision of rents, the Licensee shall be informed fifteen days in advance about such revision and about the effective date of revision.
• The increase/revision in rent shall be final and binding upon the Licensee and shall not be disputed under any circumstances whatsoever.
• The Licensor shall not be liable to offer any explanation for increase in rent under any circumstances.
• The increase in rent shall not be questioned or challenged in any Court of Law or with any other Authorities
• The Licensee unwilling to bear the increased rent shall be at liberty to vacate the property/apartment/premises in accordance and in compliance with the Licensor's in this regard.

8. Fine and Penalty Charges

• Fines vary from and depend upon the violation of rules, services, and products.
• Fines will only be taken in Indian currency and there is no other alternative or substitute
• Fines quantum might get changed, depending upon the Licensor’s inner policy and the same is not questionable and the Licensor is not answerable or accountable or liable to explain to the same to anyone.
• No discount or adjustment of any type is permissible in it.
• Authorized Persons of the Licensor alone have the power to remove/cancel the fines depending upon the situation and case to case basis and the same shall not set a precedent.
• Fines are non- refundable under any circumstances.
• Delay or non –payment of fines within 20(twenty) days of levy will lead to the deduction of twice the amount from the credit amount.

9. Contact us

• Any notices or other communications required or permitted in terms of these presents shall be deemed to have been duly served if, (a) delivered in person; or (b) sent by registered or certified mail, return receipt requested, or (c) email; and addressed as follows:

IVY Nest Apartments

accounts@ivynestapartments.com