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ISPICK ASSURANCE
TERMS AND CONDITIONS

These Ispick Assurance terms and conditions (“Terms and Conditions”) are being offered by Company to its Product Lister to cover the losses pertaining to the Product rented out. This program (“Ispick Assurance”) is designed to cover Damage and resulting loss incurred solely at the premises of Customer during the period for which the Product Lister has opted for this cover.  Any capitalized term under these Terms and Conditions shall carry the same meaning as defined under the Ispick Mobile application Terms and Conditions. 

  • Definitions
  1. “Claim” means the claim initiated by the Product Lister in the event of Damage as per these Terms and Conditions and the Claim procedure as intimated by the Company from time to time. 
  2. “Damage” shall mean the physical damage caused to the Products resulting in some monetary expense or loss to the Product Lister during Rental Period as observed by Product Lister on inspection of the Products at the time of return of Products at the end of Rental Period.
  3. “Rental Period” shall mean the period during which the Products are rented by the Customer on terms agreed with Product Lister.

 

  • Scope

Ispick Assurance is applicable to only to such Products listed on the Mobile application as determined by the Company from time to time. The Ispick Assurance shall cover the following: 

  1. The Damage to the Product on account of improper, forcible, and/or negligent usage of the Product by the Customer.
  2. Theft of the Product provided that the Product Lister has informed the police and produces FIR copy of the same to the Company.
  3. The Damage to the Product on the Customer premises 
  4. The Damage due to non-return of Product (partial/fully) directly attributable to Customer.

 

  • Ispick Assurance’s applicability is subject to following:

The Product Lister shall not be entitled to submit any Claim in the following events: 

  1. No claims made, 48 hours after the Ispick logistics provider has delivered the Product back to the Product Lister from the Customer at the end of a rental duration, shall be entertained. The period of 2 days or 48 hours referred to above shall be reckoned from the midnight of the day of delivery by logistics provider.
  2. The Product Lister ceases to be the owner of the Products. 
  3. Product Lister not giving access to surveyor for reasonable time/access to conduct his or her duties for assessment of Claim

 

  • Claim

The assessment of the Claims shall be as per the Claim procedure indicated on the Mobile application.  The Product Lister shall be entitled to submit a Claim to recover Damage occurring during the Rental period as covered by Ispick Assurance.

  • Claim amount: 
    A]     Product Lister understands and acknowledges that on final assessment of the Claim by the Company in accordance with the Claim procedure, the Product Listers availing the Ispick Assurance will get reimbursed to the extent of lowest of below amount (“Claim Amount”) – 
  1.  Where Damage caused is repairable: Cost of repairs in full subject to the maximum cap proposed below or.
  2. Where Damage caused is not Repairable: Full/Partial Replacement Cost of the Product or.
  3. Depreciated value of the Product as computed at the time of the Claim basis the year of purchase and/or year manufacture of the Product as provided by the Product Lister at the time of listing or computed by Company basis information provided by Product Lister.

 

        B] The Claim Amount so assesses shall in no event exceed the maximum cap (“Maximum Cap”) Company shall compute the Maximum Cap on payment of Claim Amount basis the cost of the Products listed i.e. 

  1. For Products valued below INR 50,000, the Claim Amount shall be capped to a maximum of INR 5,000 all inclusive.  
  2. For Products valued equal to and above INR 50,000, the Claim Amount shall be capped to a maximum of INR 10,000 all inclusive. 

       C] The product lister can avail the service of Ispick assurance only once per product.

  • Exclusions to Ispick Assurance coverage: 

Ispick Assurance cover shall not be available in the following events where: 

  1. The Damage to the Product existed prior to listing on the Mobile application which has not been declared by the Product Lister and the same been observed by Company or the Customer later. Such prior defects shall include all the latent and patent defects of the Product. 
  2. The Damage is attributable to willful misconduct of the Customer.
  3. The Damage is caused by ordinary leakage, ordinary Loss in weight or volume, or ordinary wear and tear of the Product which is not the subject matter of Ispick Assurance cover.
  4. The Damage is caused by insufficiency or unsuitability of packing or preparation of the Product at time of dispatch from the Product Lister premises after he gives his approval for dispatch.
  5. The Damage is caused to Product Lister on account of reasonable delay in delivery by logistics provider, but no damage is caused to the Product.   
  6. The Damage is arising derelict mines, bombs or from the use of any weapon of war employing atomic or nuclear fission and/ or fusion or other like reaction or radioactive force or matter. 
  7. The Damage is caused by inherent underlying illegality or illegal subject matter of the Product listed on the Mobile application.  Damage caused by war, civil war, revolution, rebellion, insurrection, or civil strife arising therefrom, or any hostile act by or against a belligerent power. 
  8. The Damage is caused by capture, seizure, arrest, restraint or detainment, and the consequences thereof or any attempt thereat on account of action of any regulatory or law enforcement authorities.  
  9. The Damage is caused by strikers, locked-out workmen or persons taking part in labour disturbances, riots or civil commotions.
  10. The Damage is caused by resulting from strikes, lockouts, labour disturbances, riots or civil commotions; or 
  11. The Damage is caused by any terrorist or any person acting from a political motive. 
  12. The Damage caused is assessed below Rs 1,000/- 
  13. The Damage is caused where any collusion is present between Product Lister and Customer or member of the Product Lister’s household or of his business staff is involved in the actual theft or Damage. Damage is caused but goods are recovered within reasonable period of time post intimation of Loss.
  14. Dishonest or frivolous Claims. 
  15. Damage caused to the product during transit, i.e., during delivery of product from product lister to customer and vice-a -versa, i.e., customer to product lister. The Company shall not be held liable for any damage to product caused by third party delivery partners.

 

  • Duration for raising complaints

The Ispick Assurance cover shall be entertained for Products where complaints are made within 48 hours after the logistics/ delivery partner has delivered the Product back to the Product Lister from the Customer at the end of a rental duration. 

 

  • General Conditions 
  1. Product Lister agrees, acknowledges and accepts all the Terms and Conditions relating to Ispick Assurance.
  2. Company reserves the right to modify or terminate the Ispick Assurance cover and these Terms and Conditions for any reason, without notice at any time. 
  3. The Ispick Assurance cover is provided on an “as is” and “as available” basis without any warranty or condition, express, implied or statutory.
  4. Product Lister expressly understands and agrees that Company shall not be liable for any direct, indirect, incidental, special, consequential or exemplary damages, including but not limited to, damages for loss of profits, goodwill, use, data or other intangible losses resulting from the Product Lister’s notion of Damage or Loss. 
  5. The Claim Amount shall be computed strictly as per clause 5 and subject to the Maximum Cap, and the Company disclaims any further liability towards the Product Lister. The assessment of Claim Amount shall be explained to the Product Lister and shall be final. 
  6. The Company reserves the right, at its discretion, to change, modify, add, or remove portions of these Terms and Conditions at any time by posting the amended terms.