Following are the terms and conditions of NAFEX.com. NAFEX.com reserves all rights to change, modify or alter the existing terms and conditions at any point of time in the future.
By using the Services offered on this website, you (for the purpose of these Terms & Conditions, the term "You" shall mean any natural or legal person who has agreed to transact through the site NAFEX.com)agree to accept the terms and conditions at the time of usage.
NAFEX.com is an online platform for connecting buyers and sellers of Forex ("Service"). NAFEX.com does not involve itself in any kind of financial handling of cash/travelers cheque/cards, etc.
You can avail of the Service only if You can form legally binding contracts under Indian Contract Act, 1872 and are 18 years or above of age and residing in India.
You are the lawful owner of all the information you provide through NAFEX.com and You must comply with all applicable laws including those relating to anti-money laundering regulations.
Foreign exchange transactions are subject to a maximum transaction limit as prescribed by the RBI in respect of sale/purchase of forex.
The rates provided to you on NAFEX.com are from the money changers directly and are a representative of the macro-economic conditions and the cost structure of the money changer.
The quotes provided by NAFEX.com are valid for duration of 15 minutes only, within which you need to confirm the quote. Post confirmation the agreed rate will be valid for a period of 4 hours.
The quotes provided by NAFEX.com are exclusive of any government tax like service tax, charges and levies which will be charged at actuals.
Any requirement received during non-working hours will be attended to on the next morning.
In case you have a requirement of more than one currency, then you will have to place separate requests for each currency.
Once you have placed a requirement for a certain currency, you will not be able to place another requirement for the same currency when the previous request is in process.
You are required to provide proof of identity, proof of residence and proof of travel or any other documentation to the money changers as required by the RBI in order to buy/sell of Forex.
If you wish to amend/ change a transaction which has already been submitted on NAFEX.com, first you will need to cancel the transaction and then re-book a new one on NAFEX.com.
You expressly agree that your contact details can be shared with the money changers whose services you choose. Additionally your contact details can be used to provide you with any information about NAFEX.com.
In the event you opt for the currency to be picked up or delivered, you agree that there would be some additional charges associated for such service which additional charges will be communicated to you directly by the money changer whose services you choose.
Except as NAFEX.com may expressly state in writing, you shall not reproduce, publish, or otherwise exploit content or technology from NAFEX.com without its prior express consent.
You are advised to independently verify the bona fides of any particular user and/or service provider registered with NAFEX.com that you choose to deal with through NAFEX.com and use your best judgment in that behalf.
NAFEX.com shall not be responsible for any non-performance or breach of any contract entered into between buyers and sellers.
You release and indemnify NAFEX.com and/or any of its officers and representatives from any cost, damage, liability or other consequence of any of the actions of any users of NAFEX.com and specifically waive any claims that you may have in this behalf under any applicable law.
The Service is provided on "as is" and "as available" basis without any representation or warranties, express or implied except otherwise specified in writing.
In case of any dispute / clarification, you can contact NAFEX.com on 09111111119. The decision taken by dispute committee of NAFEX.com will be final and binding.
These Terms and Conditions will be governed by laws of India and courts in Bangalore will have the exclusive jurisdiction for the purposes of any litigation here under.