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Avanse Financial Services Limited ("Avanse"), an NBFC regulated by the Reserve Bank of India (RBI) may, subject to extant regulations, outsource its certain activities to the service provider/s. While undertaking the outsourcing activity from Avanse, service provider shall be deemed to have read and accepted the below mentioned Outsourcing Terms & Conditions ("T&Cs"). The T&C's are framed in view of directions issued by the RBI and as such service provider shall follow the T&Cs to the extent relevant to their activity.
This Schedule shall form an integral part of the Outsourcing Agreement (“Agreement”).
Material outsourcing arrangements are those which, if disrupted, have the potential to significantly impact the business operations, reputation, profitability or customer service.
The service provider may either be a member of the group/ conglomerate to which the NBFC belongs, or an unrelated party (collectively to be referred to as "Service Provider"),
Any activity outsourced by Avanse to the Service Provider shall be subject to the following general terms and conditions:
Both the parties shall have right to terminate the agreement as per the terms agreed between the Parties under the respective agreements. In case of any material breach of any of the terms & conditions of the agreement, the agreement shall be terminated with immediate effect at the option of the non-defaulting party and as more particularly mentioned under the respective agreements.