SK PlusOne - Terms and Conditions

SK PlusOne- Customer Referral Program

These Terms and Conditions (“Terms”) govern participation in the SK PlusOne Referral Program (“Program”) organized by SK Finance Limited (“Company”). By participating, any individual eligible under the Terms (“Referrer”/ “Participant”), agrees to be bound by these Terms, as amended from time to time, and by all decision made by the Company in relation to the Program. The company reserves the right to modify these T&C at any time, which shall become effective immediately upon being posted on the website.

Eligibility:

• The Program is open to existing customers of the Company. Participation in the Program constitutes acceptance of these Terms and Conditions and abiding by it.
• The Referrer shall have no authority to (i) negotiate any contract for or on behalf of the Company or bind the Company to any contract, representation, or understanding concerning the Company, the Services, or any other product or services offered by the Company or (ii) make any representations or warranties of any kind with respect to any services provided by the Company.
• The Company may, in its sole discretion, accept or reject any prospective customer or any opportunity associated with that prospective customer submitted by a Referrer.
• The Company reserves the right at its sole discretion to verify the eligibility of any Referral at any stage of the Program, and the Company’s decision on such validity or eligibility shall be final and binding.
• Any employee of the Company shall not be eligible to participate in the Program. Any Referrer made by an employee shall be deemed invalid, and no rewards or benefits shall be payable in such cases.

How to Refer

• Referral must be submitted through the Company’s official referral platform/form or mobile application only, else the same may be rejected by the Company;
• The Referrer shall provide complete, accurate, and verifiable details of the referred customer (“Referred Customer”);
• Each Referrer must undergo OTP and system validation;
• Incomplete, duplicate, unverified, or pre-existing leads/ referrals in the Company’s system will be automatically rejected.

Qualification

1. A referral shall be considered valid only if the referred customer’s loan is successfully disbursed by the Company.
2. The Referral shall qualify for payout only if the Referred Customer’s loan is disbursed within 90 (ninety) days from the date of lead submission on the company’s designated platform. Any disbursal made beyond this period shall not be eligible for payout under this Program.
3. If multiple Referrers submit the same lead, only the first validly registered referral shall be considered eligible. In the event of a dispute in this, the Company reserves the right to take the final decision.

Communication Protocol

1. The Company shall send automated notifications (via SMS, WhatsApp, or email) to: 
   i. The Referrer- upon lead submission and loan disbursal;    
   ii. The referred customer acknowledges referral and disbursal status.
2. The Company shall not be responsible for any non-delivery, delay, or technical failure in communication beyond its control.
3. The Company reserves the right to withdraw the referral Program at any time without any prior notice.

Disqualification & Fraud Prevention

1. The Company may, at its sole discretion, reserve the right to disqualify any referral if:    
   i. The information provided is false, incomplete, or misleading; 
   ii. The Referrer attempts to misuse the program or manipulate data, or a referral is made through unethical or illegal means; or 
   iii. Any fraudulent or suspicious activity is detected.
2. The Company may conduct random audits or verification of referrals.
3. Participant violating terms of this Program may be permanently debarred from the Program.
4. Referrer shall strictly limit his/her role in providing a referral and not act as advisor, agent, or intermediary in facilitating the referred customer’s application or services.
5. If the referred customer’s details already exist in the Company’s database or underwriting pipeline, the referral shall be disqualified.
6. TThe Company reserves the right to take any appropriate action in the event that it becomes apparent later or that the Referrer has breached any of these terms and conditions or has committed an illegal or improper act in violation of local laws or regulations in order to facilitate a successful disbursement.

Modification or Withdrawal

1. The Company reserves the absolute right to review, modify, suspend, or terminate the Program or its Terms at any time without prior notice.
2. Continuation in the Program after modification shall be deemed acceptance of such revised Terms.
3. In case of any dispute, the decision of the Company shall be final and binding.

Payout Terms and Conditions:

1. Payout Eligibility:

• Payouts are determined on a monthly basis, and each calendar month is treated as a separate payout cycle for payout.
• The payout becomes due only upon successful loan disbursal of the referred case through the Company and receipt of the first EMI from the Referred Customer. Any referral made or routed through any third-party entities, agencies or external channels shall not be considered valid under this Program.
• The total payout payable to the Referrer in any calendar month shall, under all circumstances, be subject to a maximum cap of ₹26,250/ (Rupees Twenty-Six Thousand Two Hundred Fifty Only), irrespective of the total number of disbursals made during the month.

2. Payout Structure:

• Payouts shall be credited to the Referrer’s registered bank account only upon successful receipt of the first EMI from the Referred Customer, after due verification by the Company and within timelines as may be determined by the Company.
• All the payout tiers shall reset at the beginning of each month.
• Leads or disbursals not completed within the same month will not be carried forward to the next month for payout tier calculation.
• This Program cannot be combined with other offers, discounts, or referral incentives unless explicitly permitted by the Company.

Taxation

• All payouts shall be subject to Tax Deductions at Source (TDS) or any other statutory deductions as applicable.
• The referrer shall be solely responsible for complying with their individual income-tax obligations.

Non-Transferability

• The payout, reward, or benefit under this Program is non-transferable, non-assignable, and non-exchangeable, and cannot be redeemed for any other consideration or cash equivalent except as expressly permitted by the Company.

Data Privacy and Consent

By participating, the Referrer consents to the Company collecting, storing, and processing their personal data in accordance with applicable data-protection laws and privacy policy without additional consent or compensation in this regard. Information received will be used solely for Program administration, communication, and verification purposes.

Limitation of Liability

• The Company shall not be liable for any indirect, incidental, or consequential losses arising from participation in the Program or non-receipt of any reward.
• The Company’s liability, if any, shall be limited solely to the verified reward amount.

Indemnity

Participants shall indemnify and hold harmless the Company from and against any loss or claim resulting from false submissions, misuse, or breach of these Terms.

Grievance Redressal

For any queries or grievances, Participants may approach the Company in accordance with the Customer Grievance Redressal Mechanism as displayed on Grievance Redressal Documentation.

Arbitration

Any dispute, controversy and/or claim arising out of and/or relating to this contract, including its construction, interpretation, meaning, scope, operation, effect and /or validity thereof (“Dispute”), shall be referred & finally be resolved by arbitration adjudicated by a sole arbitrator, appointed in accordance with the sections prescribed in The Arbitration & Conciliation Act, 1996. You agree that the arbitration shall be before a sole arbitrator appointed by the Court under Section 11 of the Act. The juridical seat of arbitration shall be Jaipur, Rajasthan, India. The language of arbitration shall be English. The law governing the arbitration proceedings shall be Indian law. The decision of the arbitrator shall be final and binding on all the Parties.

Governing Law and Jurisdiction

These Terms and Conditions shall be governed by and construed under the laws of India, and in case of any dispute, the courts at Jaipur, Rajasthan shall have exclusive jurisdiction.