Terms &
Conditions

axiTrust provides sophisticated technological and consulting services centered around the InsurTech and RegTech domains.

​

1. The Site offers informational content, resources, and general communication channels pertaining to our expertise and offerings.

2. The Platform is a secure, cloud-based software-as-a-service (SaaS) solution designed to facilitate the digitization, streamlining, and management of surety bond underwriting, issuance, and associated lifecycle processes for Insurers and their authorized personnel. This includes, but is not limited to, providing tools for structured data input, analytical processing, document generation, and workflow management.

3. ​Crucially, axiTrust operates exclusively as a technology and service provider. We provide tools and processed information. axiTrust does not engage in, nor does it purport to engage in, the business of insurance, underwriting of bonds, reinsurance, broking, agency, or any other regulated financial activity requiring licensure or authorization from the Insurance Regulatory and Development Authority of India (IRDAI) or the Reserve Bank of India (RBI). We are a facilitator of technological processes, not a party to the insurance contract itself.

​

​

3. User Responsibilities & Obligations

As a User of the Site or Platform, you undertake and covenant to:

​

Accurate Information Provision: You are solely and exclusively responsible for the accuracy, completeness, legality, and veracity of all data, information, documents, and content (collectively, "User Data") that you input, upload, or otherwise provide to the Site or Platform. axiTrust shall not be held liable for any liabilities, losses, damages, or consequences arising from inaccurate, incomplete, misleading, or illegal User Data.

​

Security of Credentials: You are solely responsible for maintaining the confidentiality and security of your account login credentials (username, password, MFA tokens). You must promptly notify axiTrust of any unauthorized use of your account or any other breach of security. axiTrust shall not be liable for any loss or damage arising from your failure to protect your login information.

​

Compliance with Laws: You must use the Site and Platform strictly in compliance with all applicable laws, regulations, and governmental policies, including, but not limited to, those related to anti-money laundering (AML), Know Your Customer (KYC), data privacy (e.g., DPDP Act), and insurance regulatory requirements. Insurers using the Platform bear the sole responsibility for ensuring their operations and decisions comply with all IRDAI regulations.

​​

Prohibited Uses: You shall not use the Site or Platform for any unlawful, fraudulent, defamatory, harassing, or otherwise prohibited purpose. You shall not attempt to gain unauthorized access to any portion of the Site or Platform, interfere with its operation, or introduce any malicious code or viruses.

Non-circumvention: You agree not to circumvent, decompile, reverse engineer, or otherwise attempt to discover the source code or underlying algorithms of the Platform.

​

​

4. Intellectual Property Rights

​

All intellectual property rights, including but not limited to copyrights, trademarks, patents, trade secrets, and proprietary information, throughout the Site, the Platform (including its software, technology, and design), and all content generated by axiTrust (excluding User Data), are and shall remain the sole and exclusive property of axiTrust Private Limited or its licensors. Your use of the Site or Platform grants you a limited, non-exclusive, non-transferable, revocable license to access and use the services solely in accordance with these Terms. You shall not use any axiTrust intellectual property without our prior express written consent

​

​

5. Confidentiality

​

You agree to maintain the strict confidentiality of any non-public information related to the Site or Platform, or axiTrust's business operations, that you may access or become aware of, including technical, operational, or business information. This obligation shall survive the termination of your use of the Site or Platform. This clause does not apply to information that is publicly available through no fault of your own.

​

​

6. Third-Party Links & Resources

​

The Site or Platform may contain links to or integrate with third-party websites, applications, services, or resources that are not owned or controlled by axiTrust. axiTrust provides these links and integrations solely for convenience or functionality. We do not endorse, nor are we responsible for, the content, correctness, privacy policies, or practices of any third-party websites, applications, or services. You access and use these third-party resources entirely at your own risk. axiTrust expressly disclaims all liability for any loss or damage arising from your use of or reliance on such third-party resources.

​

​

7. Disclaimer of Warranties

​

THE SITE AND THE PLATFORM, INCLUDING ALL THEIR FEATURES, CONTENT, AND SERVICES, ARE PROVIDED ON AN "AS IS" AND "AS AVAILABLE" BASIS, WITHOUT WARRANTIES OF ANY KIND, WHETHER EXPRESS, IMPLIED, OR STATUTORY.

TO THE FULLEST EXTENT PERMISSIBLE UNDER APPLICABLE INDIAN LAW, AXITRUST EXPRESSLY DISCLAIMS ALL WARRANTIES, EXPRESS OR IMPLIED, INCLUDING, BUT NOT LIMITED TO, IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, NON-INFRINGEMENT, ACCURACY OF DATA, SECURITY, OR AVAILABILITY.

​

axiTrust does not warrant that the Site or Platform will be uninterrupted, error-free, timely, secure, free from viruses or other harmful components, or that defects will be corrected. While axiTrust makes reasonable efforts, we do not warrant that the results obtained from the use of the Site or Platform will be accurate, reliable, complete, or meet your specific requirements or expectations. axiTrust makes no representation or warranty regarding the compliance of User Data or any underwriting decision with applicable laws or regulations.

​

​

8. Limitation of Liability

​

THIS SECTION CONSTITUTES A CRITICAL LIMITATION ON AXITRUST’S LIABILITY. PLEASE READ IT CAREFULLY.

​

8.1. Exclusive Responsibility for Underwriting Decisions:

THE USER, PARTICULARLY ANY INSURER OR UNDERWRITER ACCESSING THE PLATFORM, UNCONDITIONALLY ACKNOWLEDGES AND AGREES THAT THE ULTIMATE AND SOLE DECISION TO UNDERWRITE, ISSUE, REJECT, OR SET THE TERMS AND CONDITIONS OF ANY SURETY BOND GENERATED OR MANAGED THROUGH THE PLATFORM RESTS SOLELY AND EXCLUSIVELY WITH THAT INSURER/UNDERWRITER.

The Platform's outputs, analyses, recommendations, credit scoring, document processing, or any other information provided by axiTrust are for informational, analytical, and suggestive purposes only, designed solely to assist the Insurer/Underwriter in their independent due diligence and decision-making process. axiTrust shall not be held liable for any direct, indirect, consequential, punitive, incidental, or special loss, damage, expense, cost, or consequence whatsoever arising from, or in connection with, any Insurer's reliance on, use of, or failure to use the Platform's outputs for their final underwriting decisions, or for any action, omission, performance, or non-performance related to a surety bond, including, but not limited to, the accuracy of the underwriting decision, the solvency of the Principal, or the enforceability or performance of the bond.

​

8.2. Non-Liability for Bond Lifecycle Events:

AXITRUST EXPLICITLY AND UNAMBIGUOUSLY DISCLAIMS ANY AND ALL LIABILITY WHATSOEVER RELATED TO THE PERFORMANCE, NON-PERFORMANCE, DEFAULT, INVOCATION, CLAIM PAYMENT, REJECTION OF CLAIMS, REPUDIATION, OR ANY OTHER EVENT, DISPUTE, OR MATTER PERTAINING TO THE SURETY BONDS THEMSELVES, SUBSEQUENT TO THEIR ISSUANCE.

Such risks are fundamental, inherent, and operational to the business of insurance and surety, and remain the sole and exclusive responsibility of the Insurer, Principal, and Beneficiary as per their respective contractual agreements, and are completely outside the scope of axiTrust’s liability as a technology provider.

​

8.3. General Limitation of Liability & Specific Error Cap:

IN NO EVENT SHALL AXITRUST, ITS AFFILIATES, DIRECTORS, OFFICERS, EMPLOYEES, AGENTS, OR LICENSORS BE LIABLE FOR ANY INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL, PUNITIVE, EXEMPLARY, OR OTHER SIMILAR DAMAGES, INCLUDING, WITHOUT LIMITATION, LOSS OF PROFITS, DATA, USE, GOODWILL, OPPORTUNITY, BUSINESS INTERRUPTION, OR OTHER INTANGIBLE LOSSES, ARISING OUT OF OR IN CONNECTION WITH YOUR USE OF OR INABILITY TO USE THE SITE OR PLATFORM, EVEN IF AXITRUST HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES.

NOTWITHSTANDING ANY OTHER PROVISION HEREIN, IN THE EVENT OF A PROVEN, DIRECT, AND SOLELY ATTRIBUTABLE ERROR OR FLAW ORIGINATING EXCLUSIVELY FROM AXITRUST'S CORE PLATFORM SOFTWARE (EXCLUDING, BUT NOT LIMITED TO: (A) ANY DATA INPUT ERRORS, OMISSIONS, OR INACCURACIES SUPPLIED BY THE USER OR THIRD PARTIES; (B) FAILURES OR MALFUNCTIONS OF THIRD-PARTY SERVICES INTEGRATED WITH OR RELIED UPON BY THE PLATFORM; (C) USER'S MISINTERPRETATION, MISCALCULATION, OR MISUSE OF PLATFORM OUTPUTS; (D) ANY CONSEQUENTIAL IMPACTS ON AN INSURER'S UNDERWRITING DECISION, WHICH REMAINS THE INSURER'S SOLE RESPONSIBILITY AND LIABILITY; OR (E) ANY BREACH OF YOUR OBLIGATIONS UNDER THESE TERMS), AXITRUST'S MAXIMUM AGGREGATE LIABILITY FOR SUCH PROVEN ERROR, IN ANY ROLLING TWELVE (12) MONTH PERIOD, SHALL BE LIMITED TO THE GREATER OF (I) INR 10,000 (INDIAN RUPEES TEN THOUSAND ONLY) OR (II) THE SPECIFIC FEES (EXCLUDING TAXES AND ANY THIRD-PARTY CHARGES PASSED THROUGH BY AXITRUST) ACTUALLY RECEIVED BY AXITRUST FROM THE INSURER FOR THE SINGLE, INDIVIDUAL BOND TRANSACTION DIRECTLY AND DEMONSTRABLY AFFECTED BY SUCH CLEAR, PROVEN ERROR.

This specific monetary limitation applies exclusively to direct monetary damages and expressly excludes all indirect, incidental, consequential, punitive, exemplary, or special damages.

​

8.4. Carve-Outs:

NOTHING IN THESE TERMS SHALL LIMIT OR EXCLUDE AXITRUST’S LIABILITY FOR DEATH OR PERSONAL INJURY CAUSED BY ITS GROSS NEGLIGENCE, WILLFUL MISCONDUCT, FRAUD, OR ANY OTHER LIABILITY THAT CANNOT BE LAWFULLY EXCLUDED OR LIMITED UNDER APPLICABLE INDIAN LAW.

​

​

9. Indemnification

​

You agree to indemnify, defend, and hold harmless axiTrust, its affiliates, officers, directors, employees, agents, and licensors from and against any and all claims, liabilities, damages, losses, costs, expenses, and fees (including reasonable attorneys' fees), arising from or in any way related to:

1. Your access to or use of the Site or Platform.

2. Your User Data, including its accuracy, legality, or any infringement it causes.

3. Your breach of any provision of these Terms.

4. Your violation of any applicable law or the rights of a third party.

5. Any underwriting decision made by an Insurer using the Platform.

​

​

10. Relationship of Parties

​

Nothing in these Terms shall be construed as creating a partnership, joint venture, agency, employment, or fiduciary relationship between you and axiTrust. You are an independent contractor, and axiTrust is a technology service provider.

​

​

11. Modifications to Terms

​

axiTrust reserves the absolute right to revise, amend, or update these Terms from time to time to reflect changes in our services, operational practices, or legal and regulatory requirements. Material changes to these Terms will be communicated to you by:

1. Displaying a persistent banner on the Site, and

Notifying Authorised Users via email or in-app notification
The updated Terms will indicate the date of the last revision and its effective date. Your continued use of the Site or Platform after the effective date of any such modifications constitutes your express and binding acceptance of the revised Terms. We strongly advise you to periodically review these Terms to remain informed of your obligations and rights.

​

​

12. Governing Law, Venue & Dispute Resolution

​

12.1. Governing Law:
These Terms, and any disputes or claims arising out of or in connection with them or their subject matter or formation (including non-contractual disputes or claims), shall be governed by and construed in accordance with the laws of India, without regard to its conflict of laws principles.

12.2. Dispute Resolution:
Any dispute, controversy, or claim arising out of or relating to these Terms or your use of the Site or Platform shall be resolved through the following mandatory tiered approach:

1. Informal Negotiation: The parties shall endeavor in good faith to resolve any dispute through informal negotiation for a period of thirty (30) days commencing from the date one party formally notifies the other in writing of the existence of such dispute.

2. Arbitration: If the dispute cannot be amicably resolved through informal negotiation, it shall be exclusively referred to and finally resolved by binding arbitration in accordance with the provisions of the Arbitration and Conciliation Act, 1996, as amended from time to time.

   • The arbitration shall be conducted by a sole arbitrator to be mutually agreed upon by the parties within 15 days of the expiry of the informal negotiation period. Failing such mutual agreement, the arbitrator shall be appointed in accordance with the rules of an established arbitral institution in New Delhi, India.

   • The seat and exclusive venue of the arbitration shall be Gurugram, Haryana, India.

   • The language of the arbitration proceedings and any award shall be English.

   • The arbitral award rendered shall be final and binding upon both parties, and judgment thereon may be entered in any court having jurisdiction thereof.

3. Injunctive Relief: Notwithstanding the foregoing, the Courts at Gurugram, Haryana, India, shall retain exclusive jurisdiction to grant interim injunctive or equitable relief, or to enforce an arbitration award.

​

​

13. Miscellaneous Provisions

​

13.1.Severability: If any provision of these Terms is found to be invalid, illegal, or unenforceable by a court of competent jurisdiction, such provision shall be severed from these Terms, and the remaining provisions shall continue in full force and effect.

13.2.Entire Agreement: These Terms, together with the Privacy Policy and any other specific agreements referenced herein, constitute the entire agreement between you and axiTrust regarding the subject matter hereof and supersede all prior or contemporaneous communications, understandings, and agreements, whether oral or written.

13.3.Waiver: No waiver of any term or condition set forth in these Terms shall be deemed a further or continuing waiver of such term or condition or any other term or condition, and any failure of axiTrust to assert a right or provision under these Terms shall not constitute a waiver of such right or provision.

13.4.Force Majeure: axiTrust shall not be liable for any failure or delay in performance under these Terms due to causes beyond its reasonable control, including, but not limited to, acts of God, war, terrorism, riots, embargoes, acts of civil or military authorities, fire, floods, accidents, strikes, or shortages of transportation facilities, fuel, energy, labor, or materials.

​

​

​​​​​