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Paypal Special Terms & Conditions for Indian Merchants

With effect from 1 March 2011 and pursuant to notification RBI/2010-11/281 of the Reserve Bank of India, the following terms and conditions shall apply specifically to users of PayPal Services in India (“Special Terms and Conditions”) as listed below. Prior to that you must know that Paypal Auto debit gets executed for Indian users. Payment received will be auto-withdrawn to your local bank account in India on a daily basis. If you have one bank account added to your PayPal account, it will be set as the default. If you have more than one bank account added to your PayPal account, you have the option to select your preferred account for auto-withdrawal. You must also check dedicated page of Paypal for Indian users

Paypal dedicated page for India

Definitions

"Balance" means the Buyer's Charge paid by the Buyer as reduced by the (a) Commission Fee, (b) the Reserve Amount (defined below) and (c) amount deducted towards charge back in respect of a previous transaction (if any) which will be displayed in your PayPal Account and remitted into your bank account by the authorized dealer bank.

"Buyer" means a person resident outside India who desires to purchase product or service from you and make payment which may be received by you into your bank account through the PayPal Service (defined below).

"Buyer's Charge" means the sale price of the product or service purchased by the Buyer plus shipping charge (if any) and all other taxes, duties, costs, charges and expenses in respect of the product or services which are required to be paid by the Buyer to you provided that the value of the product or service shall in no event exceed USD 3000 per transaction.

"Commission Fee" means the fee charged by PayPal for the provision of the PayPal Service.

"PayPal Service" means the payment gateway processing service offered by PayPal to its users resident in India for facilitation of receipt of payments from Buyer for remittance into their bank account.

"Reserve Amount" means the amount out of the Buyer's Charge calculated and determined by PayPal and the authorized dealer bank which is deposited with the authorized dealer bank in order to meet your potential charge back liabilities.
Nature of Service

The PayPal Service offered to you is not a stored value service. The PayPal Service is in the nature of a payment gateway processing service and meant exclusively for facilitating online receipt by you of payments made by the Buyers.
Eligibility for Use of Service

In order to avail the PayPal Service, in addition to the eligibility criteria provided for in this Agreement, you shall be required to have or open a fully functional bank account which has been duly verified through the identity authentication and verification process provided.
Relationship Between PayPal and You

3.1. PayPal shall act as a service provider and an intermediary for receipt of Buyer's Charges by you and shall not act as a repository or custodian with respect to the Buyer’s Charges.

3.2. PayPal shall only be responsible for depositing your Balance with the authorized dealer bank and shall not be liable to you for the payment of your Balance upon demand.
Procedure for Using the Service

4.1. You agree and acknowledge that the following procedure shall be followed by you and PayPal for the facilitation of receipt of Buyer's Charges by you through the PayPal Service:


4.1.1. You shall have or open a functional bank account;

4.1.2. After registering for the PayPal Service, you shall have to provide "Your Information" as contemplated under this Agreement and any other information including but not limited to your bank account number and the relevant Indian Financial Systems Code which may be required by PayPal in order to verify and authenticate your bank account and activate the PayPal Service;

4.1.3. Upon activation of PayPal Service, you may receive Buyer's Charges from Buyers through the PayPal Service;

4.1.4. PayPal shall, after obtaining confirmation from the Buyer that the Buyer is satisfied with the condition and quality of the goods or services (“Buyer’s Confirmation”), transfer the Buyer's Charge less the Commission Fee to the authorised dealer bank;

4.1.5. The authorised dealer bank shall deduct the Reserve Amount and if required, deduct an amount towards charge back for a previous transaction to arrive at the Balance;

4.1.6. The Balance and the Reserve Amount held by the authorised dealer bank shall be displayed on your PayPal Account;

4.1.7. The authorized dealer bank shall thereafter remit the Balance to India and shall pay the Balance either through direct credit (in case where your bank account is with the authorized dealer bank) or wire credit into your bank account or by issuing a demand draft in your favour.

4.2. The transfer of the Balance into your bank account shall take place immediately upon receipt of the Buyer’s confirmation and in any event no later than 7 days of transfer by PayPal to the authorised dealer bank.
Reserve Amount

5.1. PayPal shall be entitled to deduct the Reserve Amount from the Buyer's Charge and deposit the same with the authorized dealer bank.

5.2. In case the Buyer notifies PayPal that you have failed discharge your obligations under the terms of the sale contract between you and the Buyer, PayPal shall be entitled, in its sole and absolute discretion, to remit the charge back to the Buyer out of the Reserve Amount after verifying the Buyer's claim.

5.3. You shall be entitled to receive either the Reserve Amount or, if a charge back has been made as per Clause 5.2 above, the balance thereof , after expiry of a period of 180 days of receipt of the Balance.
Restriction on Use of Service

6.1. You agree that you shall not use the PayPal Service for exporting a product or service having a value of more than USD 3000 per transaction.

6.2. You agree to avail of the PayPal Service solely for receiving payment for valid and lawful transactions and not use the PayPal Service to trade or attempt to trade in any item, the dealing of which is prohibited or restricted in any manner under the provisions of any applicable law, rule, regulation or guideline for the time being in force.
Restriction of the Use of Funds

7.1. You agree to use the PayPal Service exclusively for the purpose of receiving Buyer's Charges.

7.2. You may not use your balance held by the authorized dealer bank for any purpose (including but not limited to payment for imports, transfer to another Person, etc.) other than as specified in these country specific terms and conditions.
Sharing Information

8.1. You acknowledge and agree that PayPal may share the information provided by you and the terms of the agreement between you and PayPal with the authorised dealer bank in order to enable the authorised dealer bank to conduct the requisite due diligence in accordance with i the authorized dealer’s Know-your-customer (KYC) obligations.
Indemnification 

In case of any dispute, demands, actions, proceedings ("Disputes") between you and the authorised dealer bank on account of non-payment of any funds due to you, you hereby indemnify PayPal, its affiliates and its employees from any damages, claims, charges, expenses and losses arising out of such Disputes.
Limitation of Liability

10.1. It is hereby clarified that PayPal shall be liable to remit the Balance to the authorized dealer bank upon receiving the Buyer’s Confirmation.

10.2. Upon transfer of the Balance from PayPal to the authorized dealer bank and until the remittance of the Balance and the Reserve Amount into your bank account in the manner set out in these Special Terms and Conditions, the Balance and the Reserve Amount shall be held by the authorized dealer bank.

10.3. After the transfer of the Balance by PayPal to the authorized dealer bank, the authorized dealer bank shall be liable to pay the Balance and the Reserve Amount to your bank account in the manner set out in these Special Terms and Conditions. PayPal shall not in any way be liable to you for the same.

10.4. PayPal shall have no responsibility for transactions carried out in good faith including charge back transactions carried out after verification in the manner provided in this Agreement.

10.5. PayPal shall not be responsible for any loss or damage incurred or suffered by you on account of any failure or interruption of the PayPal service or consequences arising out of delayed receipt of Buyer's Charges.
Dispute Resolution 

Resolution of any payment related complaint which you may have shall be the responsibility of PayPal. Upon occurrence of an event giving rise to such a complaint, you agree to follow the relevant procedure laid down in the Agreement for resolution of the same. You shall not be entitled to approach the authorised dealer bank for resolution of complaint or dispute pertaining to payment of Balance.
Amendment of This Agreement

12.1. Except to the extent amended by these terms and conditions, all other provisions of the Agreement shall remain in full force and effect.

12.2. In case of conflict between any of the terms contained in these Special Terms and Conditions and those of the Agreement, these Special Terms and Conditions shall prevail.

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