Terms and Conditions

Last updated: January 6, 2024

Please read these terms and conditions carefully before using Our Service.

INTRODUCTION
1. Welcome to GoSats! We at GoSats are on a mission to bring better Rewards and Cashbacks in everyone’s hands.
2. We would like you to read these Terms carefully before you access our Services, as these Terms will govern your use of our Services and form a binding agreement between you and us. If you do not agree to any part of these Terms, you must stop using our Services immediately.
3. By accessing our Services, you are indicating your acceptance of these Terms. Your acceptance to the Terms also signifies your acceptance of our Policies, which are incorporated into these Terms by reference. If these Terms conflict with any of our Policies, these Terms will prevail over the Policies, to the extent of conflict.
4. We reserve the right to modify these Terms from time to time. We will notify you of the changes in these Terms as required under applicable law. Your continued use of the Services after such changes indicates your acceptance of the modified Terms. We advise you to regularly re-visit this page to be aware of the changes.
5. We’ve provided clauses summaries at the beginning of each clause to help you better understand them. Of course, these summaries are in no way meant to replace the relevant clause and you are advised to read the entire clause to fully understand your rights and obligations. In case of conflict between the main text of these Terms and the summaries, the main text will prevail.

DEFINITIONS

Except otherwise provided, these words will have the following meanings:
1. “Account” means your GoSats account that you create with us for use of our Services;
2. “Company” or “GoSats” refers to Saffroncoin Solutions Private Limited, a company incorporated under the Companies Act, 2013, having its registered office at #703, 30th A Cross, Thilaknagar, Bangalore, Karnataka-560041;
3. “Card” or “GoSats Rewards Card” means a card linked to your Wallet on the Platform which is issued by LivQuik and co-branded by GoSats;
4. “Gift Cards” or “Vouchers” mean the gift cards sold through our Services, which allow the purchaser to redeem the value stored in them against goods and services;
5. “GoSats Group Entities” refers to subsidiaries and affiliates of the Company;
6. “Grievance Officer” mean an officer appointed under the provisions of Information Technology (Intermediary Guidelines and Digital Media Ethics Code) Rules, 2021. The Grievance Officer will also be responsible for resolving grievances of users with respect to GoSats services;
7. “LivQuik” or “Issuer” means LivQuik Technology (India) Private Limited, a company incorporated under the Companies Act, 2013, having its registered office at C-15,Sriram Nivas, 1st Floor, Secretariat Colony, Thiruvalluvar Nagar, Alandur, Chennai, Tamil Nadu, India - 600016. LivQuik is an RBI authorized PPI issuer;
8. “our”, “we”, “us” refers to the Company or GoSats Group Entities, as applicable;
9. “Policies” mean our (i) Privacy Policy, which governs the collection and use of your personal information; and (ii) other operating rules, policies, and procedures that we may publish from time to time in connection with the Services;
10. “Platform” means the Website, GoSats mobile application or any other platform through which we offer Services;
11. “PPI” or “Wallet” means a prepaid payment instrument that facilitates purchase of goods and services against the value stored on such instrument;
12. “RBI” is the Reserve Bank of India;
13. “Sats” means Satoshis, an internal rewards and loyalty point system of GoSats, issued at a one-to-one conversion i.e. every Satoshi is equivalent to an Indian Rupee value defined by GoSats based on market dynamics and situation as best determined by GoSats;
14. “Services” means access to the Platform and services provided through it, our content, and any other product or service provided by us pursuant to these Terms;
15. “Terms” mean these terms of use which govern your use of our Services and form a binding agreement between you and us;
16. “you” or “your” refers to you, a user of our Services;
17. “Vendor” means a third-party marketplace, seller, Gift Card issuer or vendor whose goods or services you can avail through our Platform; and
18. “Website” means https://gosats.io/ and any successor or related web locations designated by us.

ELIGIBILITY AND ACCOUNT ACTIVATION

Summary: To use our Services, you must be the age of majority and competent to contract. We will collect certain personal information from you to create your Account with us. You mustn’t share your Account details with any person. You are solely responsible for all activity undertaken through your Account.
1. To be eligible to use our Services, you must have attained the age of majority as per the laws of the country in which you reside. If you are an Indian resident, you must be at least 18 years of age to use our Services. But eligibility does not entitle you to create an Account with us. And we may refuse to open an Account at our sole discretion.
2. To use certain Services, you will be required to create an Account with us by sharing certain personal information such as your name, email ID, and mobile number. Unless you provide us this information, we won’t be able to create an Account for you.
3. You must not share your Account/log-in credentials with any third-party. If you believe that the security of your Account has been compromised, please contact us at support@gosats.io immediately.
4. You are responsible for all activity that occurs under your Account and any actions under your Account will be assumed to be taken by you.
5. You represent and warrant to us that: (a) you are competent to enter into contracts; (b) you are not barred under applicable law or a contract from entering into these Terms or using the Services; (c) all information you provide us is true, accurate, complete, and updated; (d) you have not been barred by us in the past from using our Services for any reason; and (e) you have not been adjudged bankrupt.

SERVICES

Summary: Through our Platform, we offer you a shopping feature and allow you to make purchases from the Vendors listed on our Platform. You may also purchase Vouchers from us. Apart from this, you can sign-up for the GoSats Rewards Card and co-branded Wallet through which you can make payments. When you make purchases from Vendors, you will be governed by their terms and conditions
1. Shopping with Vendors
  1. We enable you to make purchases with certain Vendors through our Platform. When you shop with such Vendors, their websites will open on the GoSats Platform. You must complete purchases using the account you have with such Vendors. While we want to ensure convenience, we do not control any aspect of your purchases with the Vendors. The Vendor’s policies will govern your orders, payments, refunds, delivery, cancellation and all other aspects of your purchases. We advise you to go through such policies before shopping with Vendors.
  2. To be clear, we do not control the quality or merchantability of goods sold on the Vendors’ websites. Hence, neither will we be liable for any defects in such goods, nor do we provide any warranty on them. Warranty, if any, will be governed by Vendors’ policies. We are also not responsible for delivery or any other obligations associated with your purchase of goods from Vendors.
  3. We may decide to disable your access to certain Vendors’ websites or platforms through our Services. But this will not ordinarily affect your relationship with the Vendors and the orders placed with them. You can still use the Vendor’s services by visiting the Vendors’ websites directly.
  4. We may receive certain personal information about you from the Vendors like your order details. Rest assured, we’ll only deal with such information as per our Privacy Policy.
2. Voucher Purchases
  1. We sell a variety of Vouchers on our Services. Please bear in mind that we do not issue these Vouchers. Vouchers are issued and activated by participating Vendors. Your purchase of each Voucher will be governed by the terms and conditions established by the issuing Vendor.
  2. Vendors may set different expiration dates and redemption terms for Vouchers, in addition to other restrictions. You should review and familiarize yourself with all such Vendor terms, prior to purchasing a Voucher. If you have questions regarding the applicable Vendor terms, please contact the issuing Vendor.
  3. As issuers of the Vouchers, Vendors (and not we) are responsible for all aspects of their Vouchers. And we are not responsible for any damages or costs you suffer by purchasing or using a Voucher.
  4. While we strive to work with reputable Vendors, we are not liable for (i) the quality, merchantability, or delivery of the goods or services sold to you by a Vendor when you redeem a Voucher; (ii) a Vendor’s failure to honour a Voucher, and (iii) Vendor’s failure to comply with applicable law. You are solely responsible for taxes and other costs levied on the goods or services when you redeem the Voucher.
  5. A Voucher purchase once made cannot be cancelled or refunded. So, we ask you to be careful when purchasing Vouchers. But if there is an error in an order confirmation for the Voucher, in processing a Voucher purchase or otherwise, we may correct such error, revise your purchase order or cancel the purchase order, and refund any amount charged.
3. GoSats Rewards Card
  1. You may avail a co-branded Wallet using our Services. You can load INR funds to your Wallet and make payments. The Wallet is issued by LivQuik and is co-branded and marketed by GoSats.
  2. You may also apply for a GoSats Rewards Card. This Card is linked to your Wallet on the Platform and can be used for making payments. To top-up the Card, you may add funds to your Wallet using the payment options available on our Services. Currently, you may opt for two variants of Cards: Intro and Elite. The benefits of these Cards, the fee applicable and the limits applicable to these Cards will be notified through our Services.
  3. If you avail the services with respect to the Wallet and the Card, you agree to be bound by Annexure A: Wallet Terms, which are incorporated into these Terms by reference.

GOSATS LOYALTY PROGRAM
Summary: Our loyalty program rewards you with Sats when you perform certain actions on the Services. For example, you are rewarded with Sats when you shop with Vendors, purchase Vouchers, make spends from the GoSats Rewards Card, play games on the Platform, or refer a friend (for our Services). We reserve the right to modify the terms and conditions relating to the loyalty program. If you agree to earn Sats on our Services, you also agree to be bound by the Risk Disclaimer contained in these Terms.
1. As part of our loyalty program, we enable you to earn rewards in the form of Sats, on completing certain qualifying events. Sats are rewarded solely for the completion of qualifying events and we do not permit any purchase or accrual of Sats in any other way.
2. When you earn Sats rewards, they reflect in the Sats wallet (“Sats Wallet”) associated with your Account. You can view your Sats rewards in the Sats Wallet section on our Platform. To clarify, Sats Wallet and the co-branded Wallet are not the same. We issue the Sats Wallet. As mentioned above, co-branded Wallet is issued by LivQuik and co-branded by us.
3. Currently, qualifying events on which you may be rewarded with Sats include:
  1. Shopping with Vendors: When you make purchases from Vendors through our Services. Your Sats reward is credited when we’ve confirmed that your purchase hasn’t been cancelled.
  2. Purchasing Vouchers: When you purchase Vouchers using our Services.
  3. GoSats Rewards Card: When you make spends through the GoSats Rewards Card. The Sats accrual and redemption that you earn may differ for the Intro and Elite Cards as PPI wallet is only considered to calculate rewards for spends done through card. The Sats balance in terms of accrual and redemption is separate from the PPI wallet.
  4. Referral Rewards: When you refer our Platform to anyone with your referral code and they use it and make their first purchase on our Platform.
  5. Games: When you win rewards in the games offered on our Services (“Games”) such as ‘spin-the-wheel’. Participation in Games may also be subject to certain qualifying events, such as making Card spends. But understand that participation in Games does not require you to pay any monetary consideration. Rewards are not contingent upon payment of monetary consideration either. The decision as to rewards granted in Games will be made by us which will be final and binding on you.
  6. Apple, Inc., its subsidiaries and affiliates are neither a Sweepstakes sponsor nor involved in this Sweepstakes.
4. Games may only be available in limited geographical locations or for a limited time period. You must not participate in Games if you are prohibited from participating in them by applicable laws or if operation of the Games in not permitted within your jurisdiction of residence. Residents of the state of Tamil Nadu in India are not eligible to participate in Games in view of the provisions of the Tamil Nadu Prize Scheme (Prohibition) Act, 1979.
5. If permitted by us, you may redeem your Sats to participate in various rewards/offers run by us or to avail a discount on purchases that you make through the Services. You can also withdraw your Sats by clicking on the ‘withdraw’ button in the Sats Wallet section of the Platform. We don’t charge any fee for withdrawals. But withdrawals can only be made to a wallet owned by you (“Destination Wallet”). We reserve the right to seek information to verify your ownership of the Destination Wallet. We may also require you to have a minimum number of Sats rewards before we permit you to make a Sats withdrawal.
6. Sats are awarded to you as a part of our promotional program, and you cannot purchase them.
7. We reserve the right to:
  1. change the mode of the accrual of Sats, including the number of Sats received in proportion to your activities;
  2. determine the jurisdictions in which the rewards are made available, and restrict participation in it from certain jurisdictions;
  3. disqualify you from receiving rewards, if you don’t meet the eligibility criteria or for any other reasons such as abuse of the rewards program or fraud or suspicious transaction/activity or as required under applicable law; and
  4. discontinue or change or issue any new form of rewards at any time, at our sole discretion.
8. By agreeing to receive rewards in Sats, you also agree to Annexure B: Risk Disclaimer, which is incorporated into these Terms by reference.

FEES AND TAXES

Summary: It is your responsibility to pay any fees, taxes, or charges for the transactions you undertake on our Platform and for the rewards you earn while using our Services. We reserve the right to deduct the applicable withholding taxes on the transactions.
1. We have two tiers of the GoSats Rewards Card which are Intro tier and Elite tier;
2. The Intro Tier card has an issuance cost of Rs. 399 inclusive of GST and no annual charges and the Elite Tier of GoSats Rewards Card has an annual charge of Rs 999 inclusive of GST with no issuance charge.
3. The first replacement of a lost physical cards is at no cost and the second issuance at a loss of card will be charged at Rs. 99 + GST for reissuing a new physical card irrespective of the card tier either Intro or Elite.
4. You are responsible for any fees that may apply to certain transactions or use of the Services. You will be notified of the applicable fees, prior to the completion of any transaction. By clicking ‘proceed’ / ‘submit’ / ‘continue’ on the Platform or demonstrating consent in any other manner, you consent to the fees displayed on the said page;
5. It is your responsibility to determine what taxes, if any, arise from transactions you undertake or rewards that you earn while using the Services. You must report and pay such applicable taxes. However, we may deduct tax at source from your rewards as per applicable law and may require you to submit taxpayer identification number like PAN details before crediting rewards to your Account.

INTELLECTUAL PROPERTY RIGHTS

Summary: GoSats Platform, Services, and any content on the Platform or Services is our intellectual property. You cannot use or exploit our intellectual property in any manner unless permitted by us. Your use of the GoSats Platform or Services is limited to the extent provided under these Terms.
1. We or our licensors are the owners of all intellectual property in the Platform, Services, the marks, designs and logos used here, and the content offered through them.
2. We grant you a limited, non-exclusive, non-transferrable, non-sub-licensable, revocable license to access and use the Services for your personal and non-commercial use only. All rights not expressly granted to you in these Terms, are reserved and retained by us or our licensors.
3. You are not permitted to (a) use or access the Services in any manner other than that expressly granted under these Terms; or (b) disassemble, decompile, or reverse engineer the Platform in any manner.
4. You may choose to submit comments, bug reports, ideas, or other feedback about the Services, including without limitation about how to improve the Platform (collectively, “Feedback”). By submitting any Feedback, you agree that we are free to use such Feedback at our discretion and without additional compensation to you, and to disclose such Feedback to third parties (whether on a non-confidential basis, or otherwise). You grant us a perpetual, irrevocable, non-exclusive, worldwide license under all rights necessary for us to incorporate and use your Feedback for any purpose.

THIRD-PARTY SERVICES

Summary: To provide you with efficient Services, we may use the services of various third-parties. But this does not mean we endorse or advertise such third-parties’ goods/services. Your use of third-party services through our Platform is solely at your own risk. We are not responsible or liable for any claims or issues arising out of your use of such third-party services.
1. You agree that if you access any third-party services through our Services, you assume all risk and liability arising from your use of these third-party services. We will not be responsible or liable for any issues arising from the use of third-party services. When you interact with third parties, you are subject to their user agreements and privacy policy. We advise you to review such documents before interacting with third parties through our Services.
2. To provide the Services, we may need to use third-party services. This is done to facilitate payments to and from you, offer rewards, and for other practical and operational purposes. While we have appropriate agreements in place with these third-parties, we disclaim any liability that may arise from our use of or reliance on such third-party services.
3. We may display various offers, products, incentives, or advertisements from third-parties during the provision of our Services. This does not mean that we endorse such third-parties’ products or services, and we will have no liability to you concerning such products or services. You are advised to do your due diligence before dealing with the third-parties.

PROHIBITED USE

Summary: You must not post any illegal or harmful content on our Platform. Neither must you use our Services in a manner that is unauthorized. If you do, we will take appropriate action against you, and/or report you to the authorities.
1. You must not use, or facilitate or allow others to use the Services for any activity or distribution of any content that:
2. You must promptly notify us of any actual or potential violation of these Terms that come to your knowledge.
3. We reserve the right to unilaterally determine whether you have violated these Terms and take action against such violation, without any prior notice. We may also report such actions to the appropriate law enforcement authorities and commence legal proceedings against you.

TERMINATION

Summary: We can terminate these Terms with you at our sole discretion. You may terminate these Terms by deleting your Account.
1. These Terms will be effective until terminated by us or you.
2. We reserve the right to terminate these Terms, terminate or suspend your Account, forfeit or freeze the Sats associated with your Account and disallow you from using certain Services at any time, in our sole discretion. We may disable your access to the Services immediately if you act in contravention of these Terms.
3. You may terminate these Terms and your use of our Services by choosing to delete your Account by writing to us at support@gosats.io.
4. The termination of Account or these Terms will not affect your or our accrued rights arising under these Terms.

DISCLAIMER

Summary: We provide the Services and the Platform on an ‘as-is’ basis and make no guarantee or warranty of any kind. You assume all risk when you use our Platform or Services.

We provide the Services and the Platform on an ‘as-is’ basis without any express or implied warranty or representations of any kind. You agree to use our Platform and Services at your own risk. We do not warrant the quality of the Services or our Platform, or that your use of the Platform will be uninterrupted, timely, secure, or error-free, or free from any viruses or other harmful components.

LIMITED LIABILITY

Summary: We are not liable for any claims, damages, losses arising from your use of the Platform or Services. Our liability, if any, will be limited under these Terms.
1. To the extent permitted under applicable law, under no circumstances will we, GoSats Group Entities or their respective directors, officers, members, partners, employees, agents, contractors, or licensors (“GoSats Parties”) be liable for any direct, indirect, incidental, punitive, special or consequential losses or damages including lost business, goodwill, profits, or revenues (“Losses”), arising from your use of, or reliance on our Platform or Services, in any manner.
2. To the extent permitted under applicable law, in no event will the maximum liability of GoSats Parties for any Losses arising out of or relating to: (a) your use of the Services; or (b) these Terms exceed INR 5,000 (Five Thousand Rupees).

INDEMNIFICATION

You agree to defend, indemnify and hold harmless the GoSats Parties from and against any claims, demands, cause of action, obligations, Losses and expenses (including attorneys’ fees) arising from:
1. your use of and access to the Platform or Services including their irresponsible use;
2. your violation of these Terms;
3. your violation of any third-party rights; and
4. your breach of applicable laws.

GOVERNING LAW & DISPUTE RESOLUTION

Summary: These Terms will be governed by Indian laws and courts in Bangalore, Karnataka will have exclusive jurisdiction to adjudicate disputes relating to these Terms. Where parties submit to arbitration, the proceedings will be carried out as per the provisions of Arbitration and Conciliation Act, 1996. The seat of arbitration will be Bangalore, Karntaka.
1. These Terms will be governed by the laws of India without regard to conflict of law principles. Subject to the dispute resolution clause below, the courts at Karnataka, India will have exclusive jurisdiction in case of any dispute arising out of or in connection these Terms.
2. Any dispute or claim arising out of or in connection with these Terms will be settled and finally decided by arbitration as per the fast-track provisions of the Indian Arbitration and Conciliation Act, 1996. GoSats and you will mutually appoint a sole arbitrator. The seat of arbitration will be Bangalore, Karnataka. The award passed by the arbitrator will be final and binding on both parties. The arbitration proceedings will be conducted in English. Both parties will bear their own costs arising from arbitration proceedings. The language to be used in such proceedings is English. You and we agree that all materials and documents exchanged during the arbitration proceedings must be kept confidential and must not be shared with anyone except the parties’ attorneys, accountants, or business advisors, subject to the condition that they agree to keep all materials and documents exchanged during the arbitration proceedings confidential.

GRIEVANCE REDRESSAL

If you have any complaints, feedback, or questions, please write to our Grievance Officer Mr. Karan Agarwal at karan@gosats.io. Our Grievance Officer will also serve as the designated Grievance Officer under the Information Technology (Intermediary Guidelines and Digital Media Ethics Code) Rules, 2021. We will endeavour to promptly redress any grievances or complaints that are received by us. We will not be responsible for addressing any grievances arising from the use of third-party services via our Services. For any grievances relating to third-party services, you must contact such third-parties directly.

GENERAL PROVISIONS
1. Severability: If any provision of these Terms is held to be illegal or unenforceable, the remaining provisions will remain valid and enforceable. Any invalid or unenforceable portions will be interpreted to give effect and intent of the original portion. If such construction is not possible, the invalid or unenforceable portion will be severed from these Terms.
2. Assignment: You cannot assign or transfer any right or obligation that you have under these Terms. Any attempt to do so will be void. We, at our sole discretion may assign or transfer any of our rights or obligations, without restrictions.
3. Waiver: Any failure or delay on our part to exercise any of our rights or remedies provided for in these Terms will not be deemed to be a waiver of our rights or remedies. Waivers must be signed and written by us, to take effect.
4. Force Majeure: We will not be responsible or liable for any failure to perform our obligations under these Terms due to any event which is beyond our reasonable control. Without limitation, these events include act of God, acts of government, strikes, lockdowns, pandemics, failure in computer systems, server downtime, or any other event over which we have no control.
5. Entire Agreement: These Terms, including its annexures and the Policies incorporated in these Terms by reference constitute the entire agreement between you and us relating to their subject matter, and supersede any previous communication or agreement between you and us.
6. Modifications: We reserve the right to modify, suspend or discontinue the Services or Platform without prior notice to you. You agree we will not be responsible to you for the modification, discontinuation or suspension of the Services of Platform.
7. Notices: Any notice under these Terms will be communicated electronically. Such notices may be delivered by us through email (at the primary email address listed in your Account), by posting them on the Platform, or through other electronic communication such as text messages or mobile push notifications. Any notices you send us must be sent to us on email at support@gosats.io. You consent to receiving communications and notices from us electronically. You agree that all the notices and other communications that we send electronically satisfy any legal requirement that such communications would satisfy if they were made in writing, physically.
8. Survival: Provisions relating to Intellectual Property (Clause 7), Termination (Clause 10), Disclaimer (Clause 11), Limitation of Liability (Clause 12), Indemnification (Clause 13), Survival (Sub-Clause 16.8) and any other Clauses meant to survive termination, will continue to survive even after termination of these Terms.
9. Relationship: We and you are independent contractors, and these Terms will not be construed to create a partnership, joint venture, agency, or employment relationship. Except as specifically provided otherwise, neither party, nor any of their respective affiliates, is an agent of the other for any purpose or has the authority to bind the other.

ANNEXURE A: WALLET TERMS

INTRODUCTION
1. These Wallet Terms are applicable to you if you have subscribed to the Wallet issued by LivQuik and form a binding agreement between you and us. Pursuant to the co-branding agreement between LivQuik and GoSats, LivQuik will issue co-branded Wallets which will be offered to you through our Services. If you subscribe to the Wallet issued by LivQuik, you also agree to be bound by LivQuik Terms, which is subject to change without any notification at any point in time. Wallet users have to visit LivQuik website regularly and update themselves for the changes in LivQuik policies including T&C.
2. LivQuik Wallet Terms are to be read together with the Terms. If you do not agree to these Wallet Terms, you won’t be eligible to use the Wallet and must not apply for one. Unless defined here, terms used here will have the meaning assigned to them under the Terms.

DEFINITIONS

The following terms will have the meaning set out against them for the purpose of this Annexure A:
1. “KYC” stands for ‘Know Your Customer’ and is a customer identification process prescribed under applicable law. LivQuik will collect and authenticate your personal identification details to undertake KYC according to applicable law (including RBI Regulations) before it issues you a Wallet and provides related services;
2. “LivQuik Terms” mean LivQuik’s terms and conditions governing the use of any Wallet issued by LivQuik, available here;
3. “Officially Valid Document” or “OVD” will have the meaning assigned to it under the RBI’s Master Direction on KYC, issued on February 25, 2016 and as updated from time to time;
4. “PPI Master Directions” refer to the Master Direction issued by RBI on PPIs on August 27, 2021, as amended from time to time;
5. “Wallet Terms” mean the terms of this Annexure A that govern your use of the Wallet;
6. “RBI Regulations” are the rules, regulations, guidelines, directions, circulars, notifications or instructions issued and updated by the RBI from time to time; and
7. “we”, “us” and “our” to refer to LivQuik and GoSats (acting on behalf of LivQuik).
8. “QuikWallet” means a prepaid instrument issued by LivQuik to a QuikWallet Account Holder in terms hereof. It facilitates purchase of goods & services and remittances against the value stored on such instruments.
9. The word “LivQuik” refers to LivQuik Technology (India) Private Limited, a company incorporated under the laws of India and having its registered office at C-15,Sriram Nivas, 1st Floor, Secretariat Colony, Thiruvalluvar Nagar, Alandur, Chennai, Tamil Nadu, India - 600016.
10. “LivQuik” or “PPI Issuer” shall mean LivQuik Technology (India) Private Limited, i.e., the proprietors of QuikWallet.

KYC VERIFICATION

Summary: For LivQuik to issue the Wallet to you, KYC compliance is necessary. For this, you must provide your personal details which will be used by LivQuik to verify your identity. If you do not share the required information, the Wallet will not be issued to you. The Wallet features will depend on whether you provide minimum details or undertake full KYC.
1. LivQuik will issue a Wallet to you only if you comply with the KYC requirements, as per which you have to provide us with certain details about yourself. LivQuik will use the details you provide and authenticate your personal identification information for the KYC compliance under applicable law. Whether you can use all or some of the Wallet’s features depends on whether you have provided minimum details (about yourself) or if you have completed full KYC.
2. You authorize us, including any third-party that may be engaged by us to undertake your KYC process as may be required from time to time. You agree and acknowledge that we may use the services of a third-party to complete your KYC process. You may be required to share with us copies of your documents and any other additional information that we may require to verify your identity. The collection, verification, audit and maintenance of the correct and updated information about you is a continuous process, so we reserve the right at any time, to take steps necessary to ensure compliance with all applicable KYC requirements. If you refuse to share your information for the KYC process, we may need to deny or limit your use of the Wallet.

YOUR RELATIONSHIP WITH LIVQUIK

Summary: GoSats does not issue you the Wallet or hold funds on your behalf. Your Wallet is issued by LivQuik. Your funds are also held and managed by LivQuik. GoSats is LivQuik’s co-branding partner.
1. Who issues you the Wallet: The Wallet is not issued by GoSats. It is LivQuik that issues the Wallet to you, subject to completion of the KYC process (in accordance with applicable law and LivQuik policies). You can use the Wallet through the Platform, or use a Card linked to your Wallet.
2. Who holds your funds: GoSats doesn’t hold your funds. The funds in your Wallet are held by LivQuik. So, when you send funds, receive funds, or make payments using your Wallet, LivQuik debits or credits your account based on the instructions you send through the Platform.

TYPES OF WALLETS

Summary: The features of your Wallet depend upon the details you provide us for KYC verification. If you provide us minimum details, you will be issued a Small Wallet. The maximum amount that can be loaded in Small Wallet is 10,000 per month and INR 1,20,000 in a year. If you complete full KYC, you will be issued a Full-KYC Wallet in which you can maintain funds up to INR 2,00,000 at any point.

The limits available on your Wallet vary depending on the KYC verification documents you provide us.
1. Small Wallet: If you provide us only the minimum KYC details which include your name, date of birth, address, phone number (which we will verify using an OTP) and the identification number of an OVD, these limits will apply to your Wallet:
  1. You will be able to load a maximum amount of INR 10,000 per month, and a total of INR 1,20,000 per year.
  2. The outstanding amount in the Wallet cannot exceed INR 10,000 at any time;
  3. Only up to INR 10,000 can be debited from these Wallets in a month;
  4. The Wallet will be reloadable and can be loaded or reloaded using a bank account, debit card, credit card, UPI or another full KYC Wallet;
  5. You can use your Wallet only to purchase goods and services from merchants who accept payments from the Wallet. You cannot withdraw cash or transfer funds from your Wallet to a bank account or to another Wallet; and
  6. You can place a request on our Platform or contact us to close the Wallet if you wish to. If you choose to do so, you will have an option to transfer the balance amount in your Wallet ‘back to source’ (payment source from where the Wallet was loaded). Or to a bank account after complying with our KYC requirements. LivQuik will follow the process specified under RBI Regulations for closure of the Wallet.
2. Full KYC Wallet: For issuance of a full-KYC Wallet, we may follow video-based KYC process (or any other KYC process specified under applicable law) for verification. If you complete full KYC process as per the RBI Regulations, you can avail these features on your Wallet:
  1. You can maintain up to INR 2,00,000 in the Wallet at any point.
  2. Your Wallet will be reloadable;
  3. You may withdraw the funds you’ve added to the Wallet back to source’ (i.e., the instrument which is used to load the Wallet) or to your own bank account (after verification);
  4. You can use your Wallet to purchase goods and services from any merchant which accepts the payments through the Wallet. Limits applicable to the use of your Wallet for this purpose will be communicated by us from time to time;
  5. You may also withdraw cash up to INR 2,000/- per transaction and upto INR 10,000/- per month using your Wallet.
  6. You will have the option to pre-register certain beneficiaries to whom you can transfer up to INR 2,00,000 per month. For non-pre-registered beneficiaries you will only be able to transfer up to INR 10,000 every month; and
  7. You can place a request on our Platform or contact us to close the Wallet if you wish to. LivQuik will follow the process specified under RBI Regulations for closure of the Wallet. If you choose to do so, you will have an option to transfer the balance amount in your Wallet to your pre-designated bank account or to another Wallet of the same Issuer(LivQuik).
3. LivQuik may modify the monetary thresholds for deposits in and withdrawals from Small and Full KYC Wallets, in its sole discretion, as per its policies and/or applicable law.

OTHER TERMS GOVERNING THE WALLET

Summary: You must use the Wallet within India and for lawful purposes only. We reserve the right to restrict your use of the Wallet and to amend the Wallet terms from time to time.
1. The Wallet is only valid within the territory of India and for transactions in Indian Rupees. You must not use the Wallet outside the geographical boundaries of India and/or for any transactions denominated in foreign currency.
2. The Wallet and the Card are not transferable.
3. We reserve the right to refuse the usage of the Wallet in our sole discretion.
4. No interest will be payable to you on the balance held in the Wallet.
5. The credentials associated with your Wallet or Card such as the PIN, passcode or OTP are confidential. You must never reveal these credentials to any person. If you do, you will bear any liability arising from the unauthorized disclosure of credentials.
6. You must use the Wallet in good faith. You are responsible for any unlawful or wrongful use of the Wallet.
7. The funds you add to the Wallet must not be proceeds of an unlawful activity.
8. These Wallet Terms may be amended from time to time based on requirements under applicable law.
9. As Quik Wallet PPI user issued by LivQuik it is your responsibility to visit LivQuik's Website on a regular basis to obtain the latest updates on policies for Quik wallet.
  
  Refer below links to access LivQuik policies
  
  Terms and Conditions - livquik (quikwallet.com)
  Grievance Policy - livquik (quikwallet.com)
  Privacy Policy - livquik (quikwallet.com)
  https://livquik.com/wallet-faq/

CARD TERMS

Summary: We may offer you the GoSats Rewards Card which you may use for undertaking both online and offline transactions. Please ensure to sign on the back side of the Card failing which we may cancel / reject the Card immediately.
1. We may offer you a Card linked to your Wallet. You may use the Card to make payments at merchants or to withdraw cash from ATMs (depending on the type of Wallet). You may disable these cards at any time, through the Platform. You may use your Card to make spends from your Wallet within the limits we’ve discussed above. We may cancel, repossess, or revoke your right to use the Card (at any time without prior notice) subject to applicable law. We may also refuse to process any transaction which we believe may violate these Terms, our policies or applicable law.
2. You must sign on the reverse side of the Card immediately upon its receipt. We may reject or cancel any transaction if the Card doesn’t have a signature or if the signature on the Card doesn’t match your signature in our records.

BENEFITS

We reserve the right to suspend or withdraw the benefits (such as rewards or discounts) associated with your use of the Wallet or the Card at any time in our discretion. We will notify you of such changes as required under applicable law.

EXPIRY, TERMINATION AND WITHDRAWAL

Summary: If your Wallet terminates, your Card will too. When your Card terminates, you must destroy it. We reserve the right to deactivate, suspend or discontinue the Wallet or the Card for violation of law, the Wallet Terms, or such other reasons that we think are legitimate for suspension or discontinuation.
1. LivQuik may deactivate the Wallet if you do not transact using it for a consecutive period of 1 year. We will notify you before LivQuik deactivates the Wallet. LivQuik will reactivate such Wallet, only after verifying your identity and completing our due diligence.
2. If the Wallet / Card is terminated by LivQuik, your agreement under Annexure A (Wallet Terms) with GoSats will terminate too.
3. We reserve the right to introduce a policy for Wallet expiration and balance forfeiture in the future (in line with RBI Regulations). If we do so, we will notify you prior to such expiration, if mandated by RBI Regulations.
4. Under the extant co-branding arrangement between LivQuik and GoSats, category of primary issuance shall be Card PPIs, which shall be backed by Wallets. The expiry period for Card PPIs shall be 5 years or date of expiry, as mentioned on the card, whichever is applicable as per the programme, and the Wallets shall have a perpetual validity.
  
  Once the Card linked to wallet is expired following process shall be followed
  (a) A new Card can be reissued based on customer request in lieu of expired card which can be used by card holders
  (b) Card which has expired can be blocked and the remaining balance in card can be refunded back to customer
  (c) LivQuik may transfer the outstanding balance to its Profit & Loss account three years after the expiry date of PPI. In case the PPI holder approaches LivQuik for refund of such amount, at any time after the expiry date of PPI, then the same shall be paid to the PPI holder in a bank account.
5. LivQuik can suspend/discontinue the Wallet or the Card issued to you at any time, for any cause, including but not limited, to the following:
  1. For any suspected violation of RBI Regulations or applicable law;
  2. For any violation of these Wallet Terms or any other policies of GoSats or LivQuik;
  3. For any suspected discrepancy in the particulars provided by you, information provided by you for KYC, or documentation provided by you;
  4. To combat potential fraud, sabotage, wilful destruction, threat to national security or for any force majeure event;
  5. Because of technical failure, modification, upgradation, variation, relocation, repair, and/or maintenance due to any emergency or for any technical reasons;
  6. If you are declared insolvent or in case of your death; and
  7. If LivQuik believes that cessation/suspension is necessary for any other legitimate purpose.

FEE AND TAXES

Summary: You are responsible for paying all taxes in respect of your Wallet. You will pay the fee we charge for using the Card or the Wallet, and we may deduct the fee amount from your Wallet if you fail to pay the applicable fee.
1. Subject to applicable law, we may charge a fee for providing certain features of your Wallet or the Card. When we do so, we will notify you through our Platform in advance.
2. We reserve the right to set off any balance in the Wallet against amounts due for transactions processed as per your request. Do note that any fee deducted will be non-refundable.
3. You understand that LivQuik and GoSats have a revenue sharing arrangement in respect of the Wallet.
4. You remain responsible for payment of all applicable taxes in respect of the Wallet.
5. Surcharges will be applicable to certain type of transactions performed by card holders associated with specific merchant categories.

REFUNDS

Summary: We will refund you the amount in your Wallet when a payment from your Wallet is rejected or cancelled. You may contact us for initiating a refund if your Wallet has been debited for such other reasons. We are not responsible for delay in processing of refund requests. Refunds may be processed by third-parties.
1. If a payment made from your Wallet is returned, rejected or cancelled, refund will be made to your Wallet (even if such refund results in exceeding the fund limits prescribed for such Wallet).
2. If you wish to receive a refund on an amount that has been debited from your Wallet on some any other ground, please email us at support@gosats.io and explain the circumstances and your reason for the request. If your request is valid, we will make reasonable efforts to honour the request and refund the amount in question to your Wallet subject to applicable laws.
3. We will try to respond to your refund requests at the earliest. However, we will not be responsible for any delays which are outside our control or are due to third parties such as merchants who we rely on to process your refund requests. Please note that we do not undertake any liability for the processing of the refund requests.

CHARGEBACKS
1. You have a right to initiate a chargeback request in accordance with LivQuik’s Terms. Please note that GoSats does not have a role to play in the processing of chargeback requests and the same are processed solely by LivQuik based on the Visa Network guidelines and decision.
2. We reserve the right to review your Account and transaction history pursuant to a chargeback request, to determine the veracity of a chargeback request, including determining the occurrence of any fraud.

LOST OR STOLEN CARDS

Summary: You are solely responsible for the security of your Card. Please inform us immediately if your Card has been lost or stolen and we will take the necessary action. We may terminate your Card if you fail to report the loss / theft of your Card to us.
1. If your Card is lost or stolen, you must immediately report such loss or theft to us and request for immediate suspension of the Card.
2. You acknowledge that once the Card is reported lost, stolen or damaged, such Card cannot be used again, even if found subsequently.
3. You are responsible for the security of the Card and must take all steps towards ensuring that the Card is not misused. If we find that you have neglected or failed to take reasonable steps to report the loss, theft or destruction of the Card, LivQuik reserves the right to cancel or terminate such Card and your Wallet. Accordingly, our Wallet Terms will terminate too.

DISCLAIMERS

Summary: GoSats only enables you to gain access to the Wallet and is not liable for any loss associated with your use of the Wallet. We are not liable for insufficiency of funds in your Wallet, quality of goods/services purchased through the Wallet, loss/ theft of the Card, or other issues arising from your use of the Wallet.
1. GoSats through the Platform only helps you gain access to the Wallet. We are not liable for any losses that may occur as a result of the acts or omissions of any other third-party service providers.
2. Any amount in your Wallet that is utilized towards making payments for any transaction is automatically debited from your Wallet. LivQuik debits your Wallet based on your instructions through the Platform.
3. We do not endorse, promote, champion or warrant any goods or services that you buy using the Wallet.
4. We will not be liable, for instance:
  1. if, through no fault of ours, your Wallet does not have sufficient funds for the transaction or funds are unavailable for withdrawal;
  2. if a computer system, ATM, or PoS terminal doesn’t work properly and you initiate a transaction despite being aware of the same;
  3. if the ATM where you are making the transaction does not have enough cash;
  4. if a merchant refuses to honour the payment made through the Wallet;
  5. if the quality of goods and services purchased using the Wallet is not adequate;
  6. if circumstances beyond our control (including but not limited to fire, flood, terrorist attack or national emergency) prevent a transaction, despite reasonable precautions that we have taken;
  7. if you attempt to use a Card that has not been properly activated; or
  8. if the Card is reported as lost or stolen, has been suspended by us, or we have reason to believe the transaction is not authorized by you.

GRIEVANCE REDRESSAL
1. You can reach out to our Grievance Officer Mr. Karan Agarwal with any complaints, feedback, or questions at karan@gosats.io.
2. If your grievance pertains to the Wallet or Card and has not been resolved by our Grievance Officer, you may reach out to LivQuik as per LivQuik’s Customer Protection/Grievance Policy here. This policy captures the grievance redressal mechanism available to you in relation to the Wallet. It will tell you how to escalate your complaints and obtain a resolution.

NOTICES

We will notify you regarding the transactions done using the Wallet by SMS or email.

ANNEXURE B: RISK DISCLAIMER

This Risk Disclaimer forms a part of the Terms and must be read as part and parcel of the Terms. By agreeing to receive Sats rewards under our rewards program, you also agree to the terms of this Risk Disclaimer. You understand, acknowledge, and agree that:

You have agreed to participate in our rewards program that rewards you in Sats solely at your own risk.

GoSats reserves the right, at its sole discretion, to change the mode of the accrual of one or any of these types of loyalty points, including the number of such loyalty points received in proportion to the User’s activities. Further, GoSats reserves the right to disqualify any User, who does not meet the offer requirements or for any other reason including but not limited to any misuse of the offer or fraud or suspicious transaction/activity or under any legal requirement or applicable rules and regulations, from receiving any loyalty points. GoSats also reserves the right to discontinue or change or issue any new form of loyalty points offered at any time, at its sole discretion. GoSats may also at its discretion specify an expiry period for the GoSats “Sats”.

Sats (including Bitcoin) is not legal tender and has no regulatory or governmental backing. The creation and usage of Bitcoin, a Virtual Digital Asset is not authorized by any central bank or governmental authority.

The market for Bitcoin is extremely volatile, unpredictable and unstable. The price of Bitcoin is susceptible to fluctuation and its value can easily collapse to zero. This may result in total loss of value of your rewards. You agree that we are in no way liable for any fluctuations in the value of Bitcoin.

The legal status of Bitcoins is uncertain, and Bitcoins may be subject to adverse regulatory changes. Legislative and regulatory changes may adversely affect the use, transfer and the value of Bitcoin. If required under applicable law, we may need to freeze or hand over you rewards to appropriate law enforcement authorities.

In the event of a market disruption, regulatory changes, or changes in the legal status of Bitcoins, we may suspend the rewards earned by you so far (and those that you may earn in future) and will not be liable for any losses you suffer as a result.

The technology on which Bitcoin is built is novel and may be prone to hacking, online threats, fraud and cyber-attacks. Given the nature of the technology, losses due to fraudulent or accidental transactions may not be recoverable and may consequently affect your ability to withdraw rewards.

The value of Bitcoin is dependent on the willingness of market participants to exchange value for Bitcoin. This may result in the potential for permanent and total loss of value if the market for Bitcoin disappears. Bitcoin are not freely convertible and may not have a corresponding INR value. Consequently, it is possible that your Bitcoin rewards may not have any real-world monetary value.