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PRIMARY TERMS AND CONDITIONS FOR PAYLATER BY ICICI BANK

  1. Please click here to read Most Important Terms & Conditions (MITC)

    I. Definitions:

    • Applicable Law(s)” means the applicable statute, law, rule, regulation, ordinance, judgement, order, decree, authorisation, or any published directive, guideline, notice, requirement or governmental restriction, having the force of law in any jurisdiction, including amendments made from time to time

    • Available Transaction Limit” means the Credit Limit available on PayLater by ICICI Bank, post deduction of the utilised limit from the Transaction Limit

    • Billing Statements: All PayLater Customers will be billed on a monthly basis for all purchases made by using the ICICI Bank PayLater facility. The due amount, due date, transaction details of the Customers etc. are available in the Billing Statement. The bill is sent to the registered e-mail ID of the Customer, post bill generation. It is also available on Pockets, iMobile Pay and on the Retail Internet Banking Platform

    • Business Day” means: (i) a day other than Saturday and Sunday, (ii) a day on which the Banks in Mumbai/New-Delhi/Noida and/or RBI are closed for business/clearing

    • Customer’s Parent PayLater Account” means a PayLater Account created for the Customers to make online payments

    • Debit Card” means any Debit Card of any bank, powered by MasterCard or Visa or any other card scheme

    • Electronic Payments” means any mode of electronic payment, such as UPI, IMPS and NEFT etc.

    • "EMI" or "Equated Monthly Instalment" means the amount payable every month by the PayLater Customer to ICICI Bank with respect to the Facility and comprises of the principal amount of the Facility and interest thereon

    • EMI Accounts” means the sub-accounts created under the Customer’s Parent PayLater Account for those transactions for which EMI facility is availed by the PayLater Customer

    • "Merchant/Vendor" means any such Merchant or Vendor (and its successors and permitted assigns) who offers products/services and is approved by ICICI Bank to accept payment for transactions made using PayLater by ICICI Bank as a payment mode

    • "MITC" means the Most Important Terms and Conditions governing ICICI Bank PayLater, a copy of which is provided by ICICI Bank to the Customer and is available at https://www.icicibank.com/personal-banking/cards/digital-credit-card/mitc-paylater-tnc/ICICI Bank Platform

    • Net Banking” means an Online Banking facility provided by various banks

    • PayLater by ICICI Bank” means PayLater under which the credit facility is provided by ICICI Bank to the PayLater Customer(s), which enables the PayLater Customer(s) to make payments for purchases made on the ICICI Bank Platform and repay such facility/loan/amount, within a specified period, with or without interest, as per the terms and conditions agreed to, between the PayLater Customer(s) and ICICI Bank

    • Credit Bureau(s) means independent third party institutions that collect financial data regarding Loans, Credit Cards and more, about individuals and shares it with its members such as Banks and Non-Banking Financial institutions in the form of a credit report

    • Pockets: An ICICI Bank virtual semi closed prepaid instrument available on the mobile application. It can also be used for viewing PayLater due payment details, transactions, pay dues etc.

    • iMobile Pay: The official mobile banking application by ICICI Bank that offers banking services of the Bank. It can also be used for viewing PayLater due payment details, transactions, pay dues etc.

    • Retail Internet Banking: Internet Banking services of ICICI Bank that are offered to ICICI Bank customers. It can also be used for viewing PayLater due payment details, transactions, pay dues etc.

    • "Payment Due Date" means the date on which the amount due for the purchases incurred by the usage of PayLater by ICICI Bank on the ICICI Bank Platform should be paid

    • UPI” means unified payment interface, which is a payment system to instantly transfer funds between two accounts within and between banks

    • BBPS”Bharat Bill Payment System is an integrated bill payment system developed by National Payments Corporation of India that offers interoperable and accessible bill payment services to customers

    • NEFT” means the National Electronic Funds Transfer, which is an electronic fund transfer system maintained by the RBI

    • Account Statement” means a list of all transactions done from the PayLater Account. It contains details such as date, transaction remarks and amount

    • ICICI Bank Platform” means the website and/or ICICI Bank mobile application, website or ICICI Bank Retail Internet Banking

    • PayLater Customer(s)” or “Customer” means such eligible Customer(s) to whom ICICI Bank has agreed to extend PayLater by ICICI Bank, which includes customers who do not have any existing relationship with the Bank

    • "Primary Terms and Conditions" means the terms and conditions governing PayLater by ICICI Bank issued by ICICI Bank, as available at https://www.icicibank.com/personal-banking/cards/digital-credit-card/tnc-paylater ICICI Bank Platform

    • Sanctioned PayLater Account Limit” means the maximum limit sanctioned in the Parent PayLater Account. The sum of limits of all individual EMI Accounts can never be greater than the sanctioned PayLater Account limit

    • Tenure” means the time for which the PayLater facility is made available by ICICI Bank, including any subsequent renewals, unless revoked or cancelled

    • Terms and Conditions” means and includes Primary Terms and Conditions, Most Important Terms and Conditions and any additional terms and conditions specified by ICICI Bank, which govern PayLater by ICICI Bank

    • Transaction Limit” means the credit facility limit, up to Rs <1> lakh (INR 1,00,000), only sanctioned to PayLater Customers on the basis of the eligibility criteria laid down by ICICI Bank, for making purchases on the ICICI Bank Platform

    • Total Amount Due” means and includes the outstanding amount of PayLater by ICICI Bank, all fees, costs, charges, expenses and all other sums, whatsoever payable by the PayLater Customers to ICICI Bank, in accordance with the terms laid here

    • KYC” means Know Your Customer, which includes the process of verifying the identity of Customers

    • Savings Account” means interest bearing Deposit Account held by the PayLater Customers with ICICI Bank

    • RBI” means the Reserve Bank of India.

    These Primary Terms and Conditions will mean the terms and conditions for PayLater by ICICI Bank.

    II. General

    • PayLater by ICICI Bank will be provided to the PayLater Customers at the sole discretion of ICICI Bank, in accordance with the Applicable Laws and will be subject to the fulfilment of the Terms and Conditions and any such other terms, as may be stipulated by ICICI Bank from time to time

    • By accepting these Terms and Conditions, the PayLater Customers will permit ICICI Bank to conduct Credit Bureau checks and/or share their data with Credit Bureaus. ICICI Bank reserves the right to ascertain the credit worthiness of PayLater Customers by obtaining the Credit Bureau report and such other reports as may deem necessary. PayLater by ICICI Bank is available to the PayLater Customers, only to shop from the ICICI Bank Platform and is non-transferable

    • PayLater Customers will act in good faith at all times, in relation to all dealings with PayLater by ICICI Bank

    • PayLater Customers agree to be vigilant regarding the payment transactions done through PayLater by ICICI Bank sanctioned to him/her and will intimate ICICI Bank of any misuse, fraud or theft, as soon as discovered by her/him

    • PayLater Customers will keep ICICI Bank updated on their communication address, loss of handset, breach of protected information like PIN, User Name, Password etc.

    • The EMI value displayed at the time of initiating a transaction will be approximate and the actual EMI amount mentioned in the PayLater Statement/iMobile Pay may vary

    • The EMI Account will be created under the credit limit set for the Customer in the Customer’s Parent PayLater Account.

    III. Issuance and usage:

    • PayLater Customers will choose to apply for PayLater by ICICI Bank only through the Platform such as iMobile Pay app and Retail Internet Banking platform and other interfaces of ICICI Bank and those of Merchants or third party partners selected by ICICI Bank. PayLater by ICICI Bank will be extended to only such PayLater Customers who are found to be eligible, as per the criteria and assessment of ICICI Bank. PayLater Customers will utilise the transaction limit under PayLater by ICICI Bank to make purchases in Indian currency only

    • ICICI Bank has the sole discretion to renew, revise, reduce and increase the Sanctioned PayLater Account Limit extended to the PayLater Customers.

    IV. Payment and Repayment

    • All PayLater Customers will be billed on a monthly basis for all purchases made using PayLater by ICICI Bank

    • The Billing Statement as generated by ICICI Bank will be available on the Platform

    • PayLater Customers will repay the Total Amount Due by the Payment Due Date, through Pockets Wallet, Debit Card, Internet Banking and/or any Electronic Payment mode on the ICICI Bank Platform

    • For transactions where the PayLater Customer has availed the EMI facility, auto-debit for the EMI Account will be set up in the Savings Account registered with the Customer’s current PayLater Account

    • In the event that the Total Amount Due is not paid within the Payment Due Date, the same will be considered as a default by the PayLater Customer and he/she will become liable to pay the amount together with an additional interest and late payment charges, as specified in the next month’s Account Statement. Such additional interest will be computed from the Payment Due Date, subject to revision from time to time

    • In the event of non-payment, ICICI Bank, in addition to levying additional interest and other charges, will block PayLater by ICICI Bank till the full outstanding amounts are paid

    • The PayLater Customers will bear the Goods and Services Tax and any other statutory levies, as may be applicable from time to time.

    VI. Event of Default

    The following acts will constitute an ‘Event of Default’ by the PayLater Customer:

    • Payment Default: Default in making payment of the Total Amount Due, as payable under PayLater by ICICI Bank

    • Breach of Terms: Breach of any terms and conditions, representations, warranties, covenants or occurrence of any fraud, misrepresentation or failure to submit any material information

    • Bankruptcy or Insolvency: When PayLater Customer becomes bankrupt or insolvent, or voluntarily or involuntarily becomes the subject of proceedings under any Bankruptcy or Insolvency Law

    • Illegality: It is/becomes unlawful for the PayLater Customers to perform any of their respective obligations

    • Death of the PayLater Customer

    • The existence of any other circumstances, which in the sole opinion of ICICI Bank jeopardises the interests of the Bank.

    VIII. Consequences/Rights & Remedies of ICICI Bank

    • In any event of default, as specified above, ICICI Bank will be entitled to use rights and remedies available to it under the Terms and Conditions

    • In any event of default, ICICI Bank may, by giving a notice to such PayLater Customers:

    1.  
      • Terminate PayLater by ICICI Bank and call upon the PayLater Customer to immediately pay the Total Amount Due

      • Suspend further access to PayLater by ICICI Bank or freeze the same

    • ICICI Bank reserves the right to:

    1.  
      • Engage one or more persons to collect PayLater Customer’s outstanding dues. ICICI Bank may furnish to such person(s) such information, facts and figures pertaining to PayLater by ICICI Bank of such PayLater Customer, as it may deem fit

      • Call upon the successors/legal heirs of the PayLater Customer to pay the Total Amount Due and any other charges in full to ICICI Bank, in the event of the PayLater Customer’s death. ICICI Bank will have the same rights as against the legal heirs/successors of such PayLater Customers

      • Initiate legal proceedings against such PayLater Customers.

    IX. Representations, Warranties and Covenants

    • PayLater Customer, by applying for PayLater by ICICI Bank, agrees to abide by the Terms and Conditions, as mentioned here, until such time that the PayLater Customer uses PayLater by ICICI Bank

    • PayLater Customer agrees to have read, understood and accepted these Terms and Conditions and are aware that these Terms and Conditions are also available athttps://www.icicibank.com/personal-banking/cards/digital-credit-card/tnc-paylater

    • PayLater Customer agrees to avail PayLater by ICICI Bank on the precondition that he/she will not use PayLater by ICICI Bank, or any part thereof, towards repayment of his ICICI Bank/any other bank’s Credit Card or for any other purpose, except as mentioned under the Terms and Conditions

    • PayLater Customer agrees that he/she has understood the method of calculation of the additional interest and other charges, as levied in cases where the Total Amount Due has not been paid by the Payment Due Date

    • PayLater Customer agrees and confirms that ICICI Bank will not be liable in any manner to the PayLater Customer for failure or delay in providing PayLater by ICICI Bank

    • All information provided by the PayLater Customer to ICICI Bank are true and correct and the Customer will promptly notify ICICI Bank about the occurrence of any event and of any information being untrue or incorrect

    • PayLater Customers will use PayLater by ICICI Bank only for the purchases made on the ICICI Bank Platform, from such Merchants/Vendors who have been authorised by ICICI Bank to accept the payment through PayLater by ICICI Bank

    • PayLater Customer will promptly notify ICICI Bank of any action or steps taken, or any legal, administrative or other proceedings by or against the PayLater Customer in any court of law

    • PayLater Customer will promptly and not later than 7 days from the occurrence of such event, notify ICICI Bank in writing with full details of all or any change/s of details or personal information.

    X. Right of Set-Off & Lien

    • ICICI Bank and its group companies will have the paramount right of set-off and lien, irrespective of any other lien or charges, present as well as future, on deposits of any kind and nature held/balances lying in any other account(s) of the PayLater Customers maintained with ICICI Bank and/or its group companies, whether in a single name or joint name(s) and on any monies, securities, bonds and all other assets, documents and properties held by/under the control of ICICI Bank and/or its group companies (whether by way of security or otherwise according to any contract entered/to be entered into by the PayLater Customers in any capacity), towards the satisfaction of the PayLater Customers’ liability. ICICI Bank and/or its group companies are entitled without any notice to the PayLater Customers, to settle any indebtedness whatsoever owed by the PayLater Customers to ICICI Bank and/or its group companies (whether actual or contingent or whether primary or collateral or whether joint and/or several) here or under any other document/agreement, by adjusting, setting-off any deposit(s) and/or transferring monies lying in the balance of any account(s), held by the PayLater Customers with ICICI Bank and/or its group companies, notwithstanding that the deposit(s)/balances lying in such account(s) may not be expressed in the same currency as such indebtedness. ICICI Bank and its group companies' rights will not be affected by the PayLater Customers’ bankruptcy, death or winding-up. It will be the PayLater Customer’s sole responsibility and liability to settle all disputes/objections with any such Joint Account Holders

    • In addition to the mentioned right or any other right which ICICI Bank and its group companies may at any time be entitled to, whether by operation of law, contract or otherwise, ICICI Bank is authorised/will be entitled:

    1. to combine or consolidate at any time all or any of the accounts and liabilities of the PayLater Customers with or to any ICICI Bank Branch and/or its group companies

    2. to institute any judicial proceedings in case of non-payment of outstanding dues from the PayLater Customers.

    XI. Repayment

    • There will be three modes of repayment. PayLater Customers can avail an auto-debit facility, e-NACH and UPI mandates for repaying the Total Amount Due, under PayLater by ICICI Bank. On availing the auto-debit facility, the Bank Account of such PayLater Customers will be debited for the Total Amount Due, as mentioned in the Account Statement, on the Payment Due Date. In case the Payment Due Date is not a business day, the Bank Account will be debited on the next business day. Customer can also pay through UPI, BBPS, NEFT and linked Savings Account through Bank channels such as Pockets, iMobile Pay and Retail Internet Banking under the ‘Pay Dues’ section. In the event the Bank Account does not have sufficient funds on the Payment Due Date, the PayLater Customer will be liable to pay all the charges applicable, in addition to the Total Amount Due as generated in the next month’s Account Statement. The PayLater Customer agrees and confirms that all the particulars submitted to ICICI Bank by her/him for availing the Auto Debit facility will be correct and complete. ICICI Bank will not be liable if the auto-debit transaction is delayed or not effected at all, for reasons of incomplete or incorrect information, or for any reason whatsoever.

    XII. Cancelled Transactions

    • In the event of a cancellation of goods/services purchased through PayLater by ICICI Bank, the PayLater Customer will pay for the purchases made as it appears in the Account Statement, as generated by ICICI Bank

    • In the event of a cancellation request being made by a PayLater Customer/Merchant/ICICI Bank, the amount will only be credited to the PayLater Customer’s PayLater by ICICI Bank Account, as and when received by ICICI Bank from the Merchants.

    XIII. Indemnity

    • PayLater Customer agrees to indemnify and hold ICICI Bank and its affiliates harmless, from and against all losses, damages, costs, claims and expenses whatsoever, which ICICI Bank may, at any time incur, sustain, suffer, or is likely to suffer in connection with or as a consequence of or by reason of providing PayLater by ICICI Bank to the PayLater Customer. The PayLater Customer will pay ICICI Bank and/or the Affiliates such amount, as may be determined by ICICI Bank and/or the Affiliates to be sufficient to indemnify it, against any such loss or expenses

    • PayLater Customer agrees to indemnify, defend and hold harmless ICICI Bank and its Affiliates against any claim, suit, action or other proceedings brought against ICICI Bank or its Affiliates by a third party, to the extent that such claim, suit, action or other proceedings brought against ICICI Bank and its Affiliates, is based on or arises in connection with: a violation of the Terms contained here; any alterations or any unauthorised use of PayLater by ICICI Bank; any misrepresentation or breach of representation, warranty or covenant made by the PayLater Customer.

    XIV. Exclusion of Liability

    • In no event will ICICI Bank be liable to the PayLater Customers for any special, incidental, indirect, punitive or consequential damages whatsoever (including, without limitation, damage, loss of goods or services, loss of business profits, business interruption, loss of information or any other financial loss) arising out of the use of, or inability to use or access PayLater by ICICI Bank or for any security breach or a virus, bug, unauthorised intervention, defect or technical malfunctioning of the ICICI Bank Platform and/or ICICI Bank systems, whether or not foreseeable and whether or not ICICI Bank has been advised of the possibility of such damages or based on any theory of liability, including breach of contract or warranty, negligence or other wrongful action and any other claim arising out of or in connection with your use of or access to PayLater by ICICI Bank. Further, ICICI Bank will not be liable to the PayLater Customers for any temporary disablement, permanent discontinuance of the services by ICICI Bank or for any consequences resulting from such actions

    • Without prejudice to the remedies available to ICICI Bank under the Terms and Conditions, ICICI Bank will be under no liability whatsoever to the PayLater Customers regarding any loss or damage arising, directly or indirectly, out of:

      • any defect in any goods or services supplied

      • delay in the delivery or non-receipt of goods or services purchased

      • refusal of any Merchant to honour or accept PayLater by ICICI Bank as a mode of payment

      • malfunction of any computer terminal

      • acts done by ICICI Bank on the instruction by any person impersonating as a PayLater Customer

      • exercise by ICICI Bank of its right to terminate PayLater by ICICI Bank

      • injury to the credit character and reputation of the PayLater Customers, alleged to have been caused by the closure of PayLater by ICICI Bank and/or the refusal of any Merchant/Mail Order establishment to honour or accept PayLater by ICICI Bank

    • ICICI Bank holds out no warranty or makes no representation about the quality, delivery or otherwise of the goods or services

    • Any dispute or claim arising in relation to the goods or services purchased by the PayLater Customer must be resolved by ICICI Bank/Merchant. The existence of the claim or dispute will not relieve the PayLater Customer of his/her obligation to pay the dues to ICICI Bank

    • In the event, a demand or claim for settlement of the Total Amount Due from the PayLater Customers is made, either by ICICI Bank or any person acting on behalf of ICICI Bank, the PayLater Customers agree and acknowledge that such demand or claim will not amount to an act of defamation or an act prejudicial to or reflecting upon the character of the PayLater Customers in any manner.

    XV. Termination

    • PayLater Customers may discontinue/terminate PayLater by ICICI Bank by raising a request on the ICICI Bank Platform. On raising the request, PayLater Customers will be liable to pay the Total Amount Due and all such other charges, whether or not already reflected in the Account Statement

    • ICICI Bank may at any time, with or without notice, withdraw, terminate and/or suspend PayLater by ICICI Bank, or in the case of an event of default.

    XVI. Notices and Complaints

    All notices, requests, demands, waivers, complaints, queries and other communications, required or permitted to be given here, in relation to PayLater by ICICI Bank, under the Terms and Conditions, will be submitted to ICICI Bank, as per the grievance redressal mechanism accessible at https://nli.icicibank.com/NewRetailWeb/complaint.htm?ITM=nli_cms_CONTACT_US_complaints_menu_navigation . Any other notices, requests, demands, waivers, complaints, queries and other communications arising out of any acts or omissions of the Merchants/Vendors to whom the payment was made using PayLater by ICICI Bank, will be resolved between the PayLater Customers and such Merchant only and ICICI Bank will have no responsibility or liability whatsoever in this regard. ICICI Bank will be responsible for all service-related issues of PayLater as a facility. The PayLater Customer Care will be accessible to all PayLater Customers in case of any issues/disputes arising. The dispute resolution policy of ICICI Bank in such matters will be final and binding.

    • Contact details of Customer Care Centres: All PayLater by ICICI Bank queries and grievances will be routed to Phone Banking on <1800 1080>. E-mail address for level 1: customer.care@icicibank.com

    • Grievances Redressal/Complaints/Escalations: In the event that you are not satisfied with our services, register your grievance:

    1. Go to “Complaint Form” at www.icicibank.com

    2. Call our Customer Care on <1800 1080>

    3. If you are unsatisfied with the responses received through the first two levels of complaint mechanism, write to <Ms. Sharlet Malvankar>, Principal Nodal Officer. Mail a physical ‘Complaint Form’ or send an e-mail to <Ms. Sharlet Malvankar>,  <Nodal Officer, ICICI Bank Limited, Bandra Kurla Complex, Mumbai 400051,India>. In all your communications with us, Please indicate your complete PayLater Account number.

    • Complete Postal Address of the Bank: <ICICI Bank Limited, Bandra Kurla Complex, Mumbai 400051, India.>

    • Toll-free Number for Grievance Redressal: If you are not satisfied with our services, register your grievance through our toll-free number <1800 200 3344> between <09:00 a.m.> to <06:00 p.m.> from Monday to Friday > press <1> and then enter the Service Request Number (numeric digits only), which should not be more than <2> months old

    • PayLater Customers can go through the following link which describes the compensation policy of PayLater: Board_Approved_Compensation_Policy.pdf (icicibank.com) .

    XVII. Disclaimer

    • The products, services and offers, referred to here, are subject to the terms and conditions governing them as specified by ICICI Bank/third party from time to time and are offered at the sole discretion of ICICI Bank/third party. Nothing, contained here, will constitute or be deemed to constitute an advice, invitation or solicitation to purchase products/services of ICICI Bank/third party. ICICI Bank makes no representation about the quality, delivery, usefulness or otherwise of the goods/services offered by the third party

    • ICICI Bank may, at its sole discretion, utilise the services of external service provider/s or agent/s. Misuse of any intellectual property or any other content, displayed here, is strictly prohibited.

    XVIII. Disclosure

    ICICI Bank will be absolutely entitled to disclose any information relating to the PayLater Customer (including personal information), details in relation to loans, defaults, obligations, to any governmental/regulatory/statutory body or private agency/entity, Credit Bureau(s), ICICI Bank’s other branches/subsidiaries/affiliates/group companies, service providers, other banks/financial institutions and/or any third parties, through a written or oral communication, including paper publication (with or without photographs) or as required under the Applicable Law for KYC information verification, credit risk analysis and/or for continuing to provide various products and services to the PayLater Customer. In this connection, the PayLater Customer waives privity of contract. CIBIL and/or any other agency so authorised, may use and/or process the above information and data disclosed by ICICI Bank, in any manner as deemed fit by them

    • The PayLater Customer gives specific consent to ICICI Bank for submitting/disclosing the ‘financial information’ as defined in Section 3(13) of the Insolvency and Bankruptcy Code, 2016 (IBC) with respect to the PayLater facility by ICICI Bank availed by the PayLater Customer from time to time, to “Information Utilities” as defined in Section 3(21) of the IBC. The PayLater Customer agrees and undertakes that they will promptly authenticate ‘financial information’ submitted by ICICI Bank, as and when requested by the Information Utilities

    • In case the PayLater Customer commits any default in payment or repayment of the principal amount of PayLater by ICICI Bank or interest/charges due, ICICI Bank and/or the RBI will have an unqualified right to disclose or publish the details of such default, along with the name of the PayLater Customer as defaulter, in such manner and through such media as ICICI Bank and/or the RBI may, in their absolute discretion, think fit

    • The PayLater Customer authorises ICICI Bank, its group companies and their agents to exchange, share or part with all the information and details relating to my/our existing loans and/or repayment history to other ICICI group companies, banks, financial institutions, Credit Bureaus, agencies, statutory bodies etc. as may be required or as they may deem fit and will not hold ICICI Bank (or any of its group companies or its/their agents/representatives) liable for using/sharing this information

    • I, unconditionally and irrevocably, authorise (i) ICICI Bank, (ii) its group companies, (iii) its agents and/or (iv) its representatives, to: collect, access, store, use, share, exchange and process all information and records (including personal information) received (from me and/or external sources) while facilitating PayLater by ICICI Bank, for (i) providing PayLater by ICICI Bank, (ii) analysis, (iii) credit scoring, verification and fraud detection, (iv) carrying out marketing and promotional activities; through any mode (including without limitation through telephone calls/SMSs/e-mails/WhatsApp) to me/us.

    XIX. KYC

    • PayLater Customers understand that ICICI Bank may rely on the documents previously collected from them as a part of their previous on-boarding process. However, this does not limit ICICI Bank from collecting such other documents as may be required by ICICI Bank under Applicable Law.

    XX. Miscellaneous

    • ICICI Bank may, at its sole discretion, amend or supplement the Terms and Conditions (due to regulatory/statutory reasons or otherwise) and/or features or benefits offered on the Facility, at any time and may notify the Borrower of any such revisions/changes in any manner, digital or otherwise, as it may deem appropriate. The Borrower agrees to be bound by such revisions/changes unless the Facility is repaid/cancelled before the date on which the revisions/changes are made

    • ICICI Bank may assign, in whole or in part, the benefits or obligations of these Terms and Conditions to its Affiliates or any other company, for the reasons, including but not limited to, restructuring or re-organisation or demerger of its organisation or operations causing a change in management or any other reason whatsoever

    • The PayLater Customers will not assign, in whole or in part, the benefits or obligations of this PayLater facility by ICICI Bank, if issued to her/him

    • No delay or omission by ICICI Bank in exercising any of its rights, powers or remedies, under the Transaction Documents, will impair the rights, powers or remedies or be considered as its waiver or consent by ICICI Bank

    • Notwithstanding any suspension or termination of PayLater by ICICI Bank, all rights and remedies of ICICI Bank as per the Terms and Conditions, will continue to survive until the receipt of the Total Amount Due and any other charges in full, to the satisfaction of ICICI Bank

    • Any provision here, which is prohibited or unenforceable in any jurisdiction, will be ineffective to the extent of the prohibition or unenforceability, but that will not invalidate the remaining provisions of the Terms and Conditions or affect such provisions in any other jurisdiction

    • Details of the additional interest, late payment charges, Goods and Services Tax and other statutory levies applicable on PayLater by ICICI Bank, will be as per the Billing Statement generated by ICICI Bank. Details of all other charges will be as per the MITC

    • The competent courts in Mumbai will have exclusive jurisdiction to deal with any dispute that may arise out of the Terms and Conditions or with respect to PayLater by ICICI Bank. The existence of a dispute, if any, will not constitute a claim against ICICI Bank

    • The Terms and Conditions governing PayLater by ICICI Bank will be in addition to and not in substitution or derogation of the MITC

    • In the event of any disagreement or dispute between ICICI Bank and the PayLater Customer regarding the materiality of any matter, the opinion of ICICI Bank will be final and binding on the PayLater Customer.

    XXI. Acceptance

    • The PayLater Customer expressly acknowledges and confirms that the PayLater Customer has read, verified, understood and accepted the Terms and Conditions online by ticking/clicking the "I Agree"/“Agree”/“Agree and Proceed” or "I Agree and Accept" or any similar icon/tab/option online. A One-Time Password ("OTP") will be sent on the PayLater Customer’s registered mobile number, which will be used to verify the acceptance of the Terms and Conditions, for PayLater Customers activated through Retail Internet Banking.