Terms of service

Terms and Conditions for KalPay Rasayi

Introduction

These Terms and Conditions govern your use of KalPay Rasayi, a service that provides interest-free installment plans for purchasing products and services. By accessing or using the KalPay Rasayi platform, you agree to be bound by these Terms and Conditions, as well as any additional terms outlined in a separate contract that you will sign upon applying for the service. Please read these terms carefully.

1. Service Overview

KalPay Rasayi allows customers to purchase products such as smartphones, appliances, and electronics, and pay for them in monthly installments. The purchase is made interest-free, in accordance with Shariah principles, and the exact number of installments and payment terms will be presented at checkout.

2. Eligibility Criteria

To be eligible to use KalPay Rasayi:

  • You must be a resident of Pakistan

  • You must be at least 18 years of age.

  • You must provide a valid CNIC.

  • You must submit proof of income and a utility bill for address verification.

  • KalPay will conduct a basic credit check to assess your eligibility for the installment plan.

3. Payment Terms

  • Installment Plans: Upon selecting KalPay Rasayi at checkout, you will enter into a repayment schedule, typically over a period of 3, 6, or 9 months.

  • Payment Methods: Installments can be paid through bank transfers, or mobile wallets. Instructions will be provided at the time of purchase.

  • Late Payments: If you miss an installment payment, a late fee of the higher of 2.5% of the outstanding amount or 2,000 rupees will be applied and included in your next installment.

  • Early Repayment: Customers may repay the outstanding balance before the end of the installment period without any penalties or fees.

4. Additional Main Terms

These Terms and Conditions are supplemented by the main terms outlined in a customer contract. This contract includes specific details about:

  • Payment schedules.

  • Default and collection policies.

  • Dispute resolution procedures.

  • Product warranties and guarantees. All customers must review and sign this contract before using KalPay Rasayi.

5. Product Availability and Pricing

  • Product Listings: KalPay Rasayi offers products through third-party retailers, and all product descriptions, images, and prices are as listed on the retailer's website.

  • Availability: KalPay cannot guarantee that all products will be available at all times. In cases of stock shortages, customers will be notified and given alternative options or a full refund.

  • Pricing - Product Listings: The prices listed on KalPay Rasayi at the time of browsing are indicative and subject to change. The final price, including any applicable fees, will be provided in the customer contract and must be agreed upon before completing the purchase.

  • Pricing Adjustments: In the event of pricing errors or discrepancies, KalPay reserves the right to correct or update the pricing. Any changes in price will be reflected in the customer contract, and customers will be notified of such changes prior to signing.

  • Contractual Agreement: The price outlined in the signed contract is considered final and binding.

6. Shipping and Delivery

  • Shipping Partners: KalPay Rasayi works with trusted third-party delivery partners to ensure timely and safe delivery of your products. Additionally, KalPay Rasayi may also deliver products through its own dedicated riders or delivery team, depending on the location and availability.

  • Delivery Times: Delivery times vary based on location and product availability. KalPay Rasayi strives to ensure prompt delivery; however, delays may occur due to unforeseen circumstances.

  • Shipping Charges: Any applicable shipping charges will be displayed at checkout. Free shipping may be available for certain products or promotions.

7. Return and Refund Policy

  • Return Eligibility: The return policy of the retailer from whom the product was purchased applies. However, KalPay Rasayi reserves the right to verify the condition of the product before processing any refunds. The product must be unused, undamaged, and returned in its original packaging.

  • Refund Process: Refunds will be processed at KalPay Rasayi’s discretion. KalPay may inspect the product to ensure it has not been used or damaged. KalPay reserves the right to refuse refunds if the product is found to be ineligible for return based on its condition.

  • Non-Refundable Items: Certain items, such as perishable goods, custom products, or digital downloads, may not be eligible for refunds. Please refer to the retailer's terms for specific details.

8. Ownership of Products

  • Retention of Ownership: KalPay retains ownership of the products purchased through the Rasayi platform until all installment payments are fully made. Customers agree to allow KalPay to reclaim ownership of the product in the event of default or non-payment.

9. Warranty and Product Quality

  • Product Warranty: Products purchased through KalPay Rasayi come with the standard manufacturer’s warranty as outlined by the retailer or manufacturer. KalPay Rasayi is not responsible for product defects, malfunctions, or damages post-purchase.

  • Warranty Claims: Any claims regarding product warranties must be handled directly with the retailer or manufacturer, as per their policies.

10. Customer Obligations

  • Accurate Information: You must provide accurate, current, and complete information during registration and throughout the use of KalPay Rasayi. Any changes in contact or financial information must be reported immediately.

  • Compliance with Laws: You agree to comply with all applicable laws, including consumer protection and financial regulations, in connection with your use of KalPay Rasayi.

11. Privacy and Data Usage

  • Personal Information: KalPay Rasayi collects and processes your personal information to provide services. We take your privacy seriously and adhere to all local data protection regulations. For more details, please refer to our Privacy Policy.

  • Third-Party Sharing: Your information may be shared with retailers, shipping companies, and financial institutions for the purpose of processing your purchases and payments.

12. Amendments to Terms

KalPay reserves the right to modify these Terms and Conditions at any time. You will be notified of any changes via email or through the platform. Continued use of the KalPay Rasayi service after changes are made constitutes your acceptance of the revised terms.

13. Governing Law

These Terms and Conditions are governed by the laws of Pakistan. Any disputes arising from the use of KalPay Rasayi shall be subject to the exclusive jurisdiction of the courts in Pakistan.

14. Dispute Resolution

In the event of a dispute between the customer and KalPay, both parties agree to first attempt to resolve the dispute through amicable negotiations. If a resolution cannot be reached, the matter will be escalated as per the dispute resolution clause in the customer contract, which may include arbitration or court proceedings.

15. Right to Approve or Reject Applications

KalPay reserves the sole right to approve or reject any application for KalPay Rasayi based on its internal credit assessment and risk policies. Approval is not guaranteed, and KalPay may decline an application without providing specific reasons for the rejection. All decisions regarding eligibility and approval are final and made at KalPay's discretion.


16. Contact Information

For any questions or clarifications regarding these Terms and Conditions or your contract, please contact us at:

KalPay Financials
Customer Support: rasayi@kalpayfinancials.com
Phone: +92 328 3453457