Terms of Service

Terms Of Service
May 03, 2023

PLEASE READ THE FOLLOWING TERMS OF SERVICE (THE “TERMS”) CAREFULLY BEFORE USING THE PLATFORM (AS DEFINED BELOW) NAMELY MYFOLIO CREATED, AND DEVELOPED BY GRAVITY HOUR TECHNOLOGIES PRIVATE LIMITED[“COMPANY”]. THESE TERMS FORM A LEGALLY BINDING AGREEMENT BETWEEN YOU [“CUSTOMER”] AND THE COMPANY.
BY REQUESTING AN AUTHORISED USER ACCOUNT CREATION, ACCESSING, BROWSING, AND/OR OTHERWISE USING THE PLATFORM, THE CUSTOMER ACKNOWLEDGES THAT THE CUSTOMER HAS READ, UNDERSTOOD, AND AGREES TO BE BOUND BY THESE TERMS.
By accessing and using thePlatform, You agree to comply with these Termsalong with Platform Privacy Policy ("Privacy Policy”). You may not access and use the Platform if You do not agree to the version of the Terms. The terms “We” and “Us” refer to GRAVITY HOUR TECHNOLOGIES PRIVATE LIMITED, registered in India. Company and Customer are individually referred to as “party” and collectively as “parties.”

NOW IT IS HEREBY AGREED BY AND BETWEEN PARTIES AS UNDER – 

  1. DEFINITIONS
  1. “Application” shall mean and include the proprietary application of the Company named MyFoliothat acts as a leading application used for storing information of the Customers including the financial information described in the Purchase Plan.
     
  2. “Company” shallmean Gravity Hour Technologies Private Limited.
 
  1. “Customer” or “You” or “Your” shall mean the users of the Platform, including, but not limited to, individuals, companies, agents, or other similar persons, who use the Platform and avail the Services offered by the Company, through the Platform.
     
  2. “Customer Data” shall mean all data created by or in any way originating with Customer including the user’s details or personal information or the reports/ results of using the Platform, whether such data or output is stored on Customer’s hardware, Company’s hardware, or exists in any system owned, maintained, or otherwise controlled by Customer or by Company.
 
  1. “Documentation” shall mean any accompanying documents, content, data provided by the Company to the Customer along with the Software.
 
  1. “Enhancements” shall mean any modification, update, upgrade or addition to the Platform that, when made or added to the solution or modules currently being used by Customer, provides minor functionality enhancements but does not change overall utility, functional capability, or application.
 
  1. “Platform” shall mean and refer to as the proprietary website of the Company, hosted under the domain name (https://www.myfolio.ai/ (hereinafter referred to as “Website”)) along with the Application.
 
  1. “Purchase Plan” means an order plan as uploaded on the website which includes a description of duration of Services, fees, etc. and such Purchase Plan shall be incorporated by reference, and subject to the terms of these Terms.
     
  2. “Services” shall mean services provided to the Customers by the Company through the Platform including managing and storing Customer’s financial information, sharing financial information with nominee.
 
  1. “Trial Period” have the meaning given to it under Clause 5.
 
  1. “User information” shall mean all information stored by the user on Platform pursuant to Clause 7 (User Content).
 
  1. “User Account” shall be the account which the Customer shall be required to create on the Platform to avail the Services offered by the Company.
  1. REGISTRATION
To avail the Services provided through the Platform, You need to complete the registration process on the signup page on the Platform. For such registration, You shall be required to provide Your email address and phone number. The Company shall, thereafter, initiate a two-step authentication process, to validate Your identity by way of providing You a one-time password (“OTP”), which You would be required to input, at the time of sign up.  Upon completion of this process, Your User Account would be created. Through this User Account, You will be eligible for availing the Services and receiving further alerts and instructions related to the Services made available through the Platform.
  1. Restrictions 
Customer shall not, directly or indirectly:
    1. copy, modify, adapt, translate, reverse engineer, decompile, disassemble, alter, reproduce or otherwise make any changes to the Platform;
 
    1. use the Platform in any manner to provide time-sharing, benchmarking or other computer services to third parties, except as expressly provided herein, or allow any third party to access or benefit from the functionality of the Platform;
 
    1. use the Platform, or allow the transfer, transmission, export, or re-export of the Platform or portion thereof in violation of any applicable export control laws or regulations; 
 
    1. use the Platform for any purpose other than the as specified under these Terms;
 
    1. use the Platformin violation of the Purchase Plan;
 
    1. use the Platform to develop any competing or similar product;
 
    1. use any of the Platform’s components, add-ons, files, modules, externals, contents including associated license material separately from the Platform.
 
  1. ACCOUNT AND PASSWORD:
  1. By registering for a User Account through the Platform, You represent and warrant that You are of the age of majority in the jurisdiction in which You reside or, are registering through Your parents or guardians, who are of the age of the majority in the jurisdiction, in which You reside (“Representative”). You and Your Representatives agree to:
  1. provide accurate, authenticated and true information about yourself;
 
  1. maintain the security of Your passwords and identification;
 
  1. promptly update the email address and mobile number listed in connection with Your User Account to keep it accurate so that We may contact You; and
 
  1. be fully responsible for all actions carried out through Your User Account.
 
  1. You must not set up a User Account on behalf of another individual or entity unless You are a Representative, legally authorized to do so.
 
  1. Registration with the Platform does not make You a member, shareholder or affiliate of the Company for any purposes whatsoever, nor shall You have any of the rights of statutory members of the Company.
 
  1. Unauthorized Use; False Information: You shall: (i) notify us immediately of any unauthorized use of Your User Account or any other known or suspected breach of security, (ii) use reasonable efforts to stop any unauthorized use of the Platform or Your User Account, that is known to You or suspected, and (iii) not provide false identity or information to gain access to or use the Platform.
 
  1. Customer shall be responsible for maintaining the confidentiality of the User Account and password and it shall be responsible for all activities that occur under any User Account. Company reserves the right to refuse registration or cancel User Accounts which the Company deems inappropriate.
  1. TRIAL PERIOD
The Customer shall be entitled to Ninety (90) days trial period (“Trial Period”) to use the Services without any fees set forth in clause 6 hereunder. The said Trial Period shall commence from the date on which the Customer registers on the Platform.
  1. FEES
  1. After the expiry of the Trial Period, the Customer shall pay to Platform, without offset or deduction, the amounts set forth within the specified days as outlined in the Customer Proposal.
  2. All fees payable under these Terms shall be paid by the Customer in advance at the end of Trial Period and as per the rates stated in the Purchase Plan.
  3. Unless otherwise stated in these Terms, the fees are non-refundable and that the Customer waives his/ her right with regard to the same.
  1. USER CONTENT
  1. Customer is entitled to store information relating to bank accounts, loan information, financial investments of the Customer, physical and tangible assets owned by the Customer, insurance, personal IOUs, contact details in possession the Customer, documents in electronic formats, details of debit and/or credit cards owned by the Customer (hereinafter “User Information”).
  2. Customer agrees that the Customer shall solely be responsible for User Information and in no way shall Platform be liable with respect to any dispute which may arise out of such User Information and further warrants that the said User Information is accurate and pertains to assets or liabilities, whether movable or immovable, whether tangible or tangible owned by the Customer.
  1. WARRANTIES; EXCLUSION OF LIABILITIES
  1. Customer hereby represents and warrants that it has all rights necessary to permit Platform to perform its obligations and exercise its rights with respect to the Customer Data as contemplated by these Terms, including all necessary permissions and consents to collect, use and disclose the Customer Data, as contemplated by these Terms. The foregoing expressly includes any applicable obligations under GDPR or similar regulations, it being understood that, with respect to the Customer Data, Customer is the Data Controller (or equivalent) and Platform is the Data Processor (or equivalent). Customer further covenants that it shall be solely responsible for the Customer Data and the consequences of their use, and that Platform shall have no liability with respect to any Customer Data.
  2. The Customer represents and warrants that it shall at all times comply with these Terms and its performance hereunder does not conflict with any other obligation or violate any agreement.
  3. General Disclaimer. THE COMPANY AND/OR ITS PARTNERS, RESPECTIVE LICENSORS MAKE NO REPRESENTATIONS ABOUT THE SUITABILITY, RELIABILITY, AVAILABILITY, TIMELINESS, AND ACCURACY OF THE INFORMATION, PLATFORM AND SERVICES PROVIDED BY THE COMPANY FOR ANY PURPOSE. ALL SUCH INFORMATION, SOFTWARE, PLATFORM, SERVICES AND RELATED GRAPHICS ARE PROVIDED "AS IS" WITHOUT WARRANTY OF ANY KIND.
  4. THE COMPANY AND/OR ITS PARTNERS, RESPECTIVE LICENSORS HEREBY DISCLAIM ALL WARRANTIES AND CONDITIONS WITH REGARD TO THIS INFORMATION, SOFTWARE, PLATFORM, SERVICES AND RELATED GRAPHICS, INCLUDING ALL IMPLIED WARRANTIES AND CONDITIONS OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, TITLE AND NON-INFRINGEMENT.THE FOREGOING LIMITATIONS OF LIABILITY WILL APPLY, NOTWITHSTANDING THE FAILURE OF ESSENTIAL PURPOSE OF ANY LIMITED WARRANTY OR REMEDY HEREIN.
  5. Exclusions of Remedies; Limitation of Liability. IN NO EVENT SHALL THE COMPANY, ITS OFFICERS, DIRECTORS, EMPLOYEES, OR AGENTSBE LIABLE FOR ANY INCIDENTAL, INDIRECT, SPECIAL, CONSEQUENTIAL OR PUNITIVE DAMAGES, REGARDLESS OF THE NATURE OF THE CLAIM, INCLUDING, WITHOUT LIMITATION, LOST PROFITS, COSTS OF DELAY, ANY FAILURE OF DELIVERY, BUSINESS INTERRUPTION, COSTS OF LOST OR DAMAGED DATA OR DOCUMENTATION OR LIABILITIES (EVEN IF THE COMPANY HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES), RESULTING FROM ANY ASPECT OF YOUR USE OF THE PLATFORM OR THE INFORMATION PROVIDED THROUGH IT, INCLUDING WITHOUT LIMITATION,THE DAMAGES THAT ARISE FROM USE OR MISUSE OF THE PLATFORM OR THE SERVICES, FROM INABILITY TO USE THE PLATFORM OR THE SERVICES, OR THE INTERRUPTION, SUSPENSION, MODIFICATION, ALTERATION, OR TERMINATION OF THE PLATFORM OR THE SERVICES PROVIDED THROUGH IT. SUCH LIMITATION OF LIABILITY SHALL ALSO APPLY WITH RESPECT TO DAMAGES INCURRED BY REASON OF OTHER SERVICES RENDERED THROUGH OR ADVERTISED IN CONNECTION WITH THE PLATFORM OR THE SERVICES OR ANY LINKS ON THE PLATFORM. THESE LIMITATIONS SHALL APPLY TO THE FULLEST EXTENT PERMITTED BY LAW. YOU SPECIFICALLY ACKNOWLEDGE AND AGREE THAT THE COMPANY SHALL NOT BE LIABLE FOR USER INFORMATION AND CONTENTS OR THE DEFAMATORY, OFFENSIVE, OR ILLEGAL CONDUCT OF ANY CUSTOMER OR THIRD PARTY, OR MISREPRESENTATION AS TO OWNERSHIP IN THE INTELLECTUAL PROPERTY RIGHTS OR ANY INFRINGEMENT BY THE CUSTOMER’S CONTENT, AND THAT, THE RISK OF HARM OR DAMAGE FROM THE FOREGOING RESTS ENTIRELY WITH YOU. THE PLATFORM IS FACILITATED, CONTROLLED AND OFFERED BY THE COMPANY FROM ITS FACILITIES IN INDIA. THIS LIMITATION UPON DAMAGES AND CLAIMS IS INTENDED TO APPLY WITHOUT REGARD TO WHETHER OTHER PROVISIONS OF THESE TERMS HAVE BEEN BREACHED OR HAVE PROVEN INEFFECTIVE.
IN NO EVENT SHALL THE MAXIMUM AGGREGATE LIABILITY OF THE COMPANY EXCEED THE TOTAL AMOUNT PAID BY THE CUSTOMER FOR THE SERVICES, GIVING RISE TO SUCH CLAIM AND IN THE EVENT THE CUSTOMER IS USING THE FREE VERSION OF THE PLATFORM, THE MAXIMUM AGGREGATE LIABILITY OF THE COMPANY, SHALL NOT EXCEED INR 100.
The Parties acknowledge and agree that the disclaimers, exclusions and limitations of liability set forth in this Section 8 form an essential basis of these Terms, and that, absent these disclaimers, exclusions and limitations of liability, the provisions of these Terms, including, the economic terms, would be substantially different.
  1. INTELLECTUAL PROPERTY RIGHTS
  1. Any and all rights to the Platform along with any Enhancements or upgrades thereto, and any Documentation provided therewith, including title, ownership rights and intellectual property rights such as copyrights, trademarks, service marks and patents therein shall remain the sole and exclusive property of the Company and/or its suppliers or its licensors.
  2. From time to time, Customer may provide feedback, suggestions, requirements or recommendations (“Feedback”) regarding the Platform or the Services. Customer assigns to Company all right, title and interest to such Feedback and an exclusive right to create any developments based on such Feedback.
  3. Customer shall retain title to and all ownership rights in Customer Data. Company shall not be liable in any manner whatsoever, for any claim arising out of or relating to the Customer Data.
  4. If We receive any intellectual property right infringement claim notification against any content posted by You on the Platform, We may remove all such content, which is indicated as infringing and/or take any other appropriate action, in our sole discretion.
  5. All material on this Platform, including but not limited to audio, images, photographs, software, text, icons and such like content (the “Content”), are protected by copyright under the copyright laws or any other relevant intellectual property laws. You cannot use the Content or works of other users, except as specified herein.
  6. In case You wish to submit any oral Feedback or raise a complaint, please write to support@myfolio.ai.
  1. CONFIDENTIAL INFORMATION
  1. “Confidential Information” shall mean information including without limitation Platform, Documentation, reports, analysis, Customer informationfinancial, business, technical and marketing information, business plans, methods, processes, inventions, techniques, designs, data, know-how, ideas, concepts, strategies, trade secrets, Services and such other information. Confidential Information does not include information which: a) is in the public domain; (b) was known to the party of such disclosure or becomes known to the party without breach of any confidentiality agreement; (c) is independently developed by either party without violating any confidentiality obligations stated herein; (d) is disclosed pursuant judicial order or requirement of the governmental agency or by operation of law.
  2. The parties agree not to use any Confidential Information for any purpose except as stated in these Terms.
  3. The parties agree that any violation of the confidentiality obligations will cause irreparable injury to the other, entitling such party to obtain injunctive relief in addition to all legal remedies.
  1. TRANSFER OF CONFIDENTIAL INFORMATION
  1. Company shall retain the personal information of the Customer as stated in Privacy Policy of the Company, located at Myfolio - Legal.
 
  1. Company shall periodically send notifications and/or intimations to the Customers regarding transfer of the said confidential information.
     
  2. Company shall also be entitled, upon its sole discretion, to share the said personal information with the said nominee if the Customer fails to respond tonotifications/ alertsfor a continuous period of 11 days.
 
  1. The Customer hereby agrees that in no way shall Company be liable:
  1. to authenticate any documents provided by theCustomer;
  2. against any claims arising out such production of documents by the Customer.
  1. INDEMNITY

    Customer shall indemnify, defend and hold harmless the Company against any all demands, costs, losses, liabilities, claims, proceedings or damages including attorney’s fees asserted against the Company, its agents, its customers, officers and employees arising out of or in connection with any claim relating to i) IPR violation ii) use of the Platform/ Service other than as permitted under these Terms, or iii) negligence or misconduct of the Customer or iv) Customer Data, or v) any breach of these Terms, or vi) any breach of applicable laws.
 
  1. PROHIBITED CONDUCT

You agree not to engage in any of the following activities:
 
  1. Violating laws and rights:

You may not (a) use the Platform for any illegal purpose or in violation of any local, state, national, or international laws, (b) violate or encourage others to violate any right of or obligation to a third party, including but not limited to, by infringing, misappropriating, or violating intellectual property, confidentiality, or privacy rights, by use of the Platform.
 
  1. Solicitation:
     
You may not use the Platform, or any information provided through the Platform for the transmission of advertising or promotional materials, including junk mail, spam, chain letters, pyramid schemes, or any other form of unsolicited or unwelcome solicitation.
 
  1. Disruption:

You may not use the Platform in any manner that could disable, overburden, damage, or impair the Platform, or interfere with any other user’s use and enjoyment of the Platform; including by:
 
  1. uploading or otherwise disseminating any virus, adware, spyware, worm or other malicious code, or
 
  1. interfering with or disrupting any network, equipment, or server connected to or used to provide the Platform, or violating any regulation, policy, or procedure of any network, equipment, or server.
 
  1. Harming others:

You may not share or transmit anything that is harmful, offensive, obscene, abusive, invasive of privacy, defamatory, hateful or otherwise discriminatory, false or misleading, or which incite the commission of an illegal or violent act;
 
  1. Impersonation, Misrepresentation, or unauthorized access:

You will not impersonate another person or entity, or misrepresent Your affiliation with a person or entity when using the Platform, nor will You misrepresent Your intellectual property rights in or to any content, for the purposes of uploading the same on the Platform;
 
  1. Developing competing offerings:

You will not use the Platform to develop any competing platforms, applications, websites or products which are similar or substantially similar to the Platform.

 
  1. Offensiveor Infringing Content:

In the event You are at the receiving end of any offensive content or are the victim of any such actions of any other Customer or Your work has been infringed and is being displayed as on the Platform, You are encouraged to report such content to the Company. The Company shall delete such offensive content and take any other corrective action as it deems fit. The Company shall also provide notice to the user, indulging in infringement of Your work.

You understand and acknowledge that if You indulge in any of the prohibited conduct stated above, and it is brought to the notice of the Company, the Company may terminate Your right to use the Platform and the Services and take any other corrective action as it deems fit.
  1. PRIVACY POLICY
The Company is committed to responsibly handling the information and data we collect through the Platform in compliance with our Privacy Policy. Please review the Privacy Policy so that You are aware of how we collect and use Your personal information. Our Privacy Policy is located at Myfolio - Legal
  1. TERM AND TERMINATION
The Company reserves the right to cancel the Services at any time. Any violation of policies which results in extra costs will be billed to the Customer (i.e. transfer, space etc). The Customer shall not be entitled to any refund in the event of termination or cancellation of the User Account or stoppage of provision of Services under these Terms.
  1. INTERPRETATION

These Terms will in all events be construed as a whole, according to its fair meaning, and not strictly for or against a party merely because that party (or the party's legal representative) drafted the Terms. The headings, titles, and captions contained in these Terms are merely for reference and do not define, limit, extend, or describe the scope of these Terms or any provision herein. Unless the context requires otherwise, (a) the gender (or lack of gender) of all words used in these Termsincludes the masculine, feminine, and neutral, and (b) the word "including" means "including, without limitation”.
  1. ENTIRE AGREEMENT
These Terms and the Privacy Policy constitute the entire agreement between You and the Company, relating to this subject matter and supersede any and all prior communications and/or agreements between You and the Company relating to this subject matter.
  1. SEVERABILITY

If any provision of these Terms is determined to be invalid, illegal or unenforceable in any respect, including because of the duration thereof, the area covered thereby, or the types of activities restricted thereby, by a court of competent jurisdiction, the validity, legality or enforceability of the remaining provisions contained herein shall not in any way be affected or impaired thereby.
  1. WAIVER
The Company’s failure to exercise, or any delay in exercising, any right or remedy provided under these Terms shall not constitute a waiver of that or any other right or remedy, nor shall it preclude or restrict any further exercise of that or any other right or remedy. No single or partial exercise of any right or remedy by the Company provided under these Terms or by law shall preclude or restrict the further exercise of that or any other right or remedy.
  1. GOVERNING LAWS

These Terms shall be construed and governed by India.The parties consent to the exclusive jurisdiction of the competent courts in the Pune, Maharashtra with respect to any matters arising under or with regard to these Terms. 
  1. No agency relationship

You agree that no joint venture, employment, or agency relationship exists between You and the Company as a result of these Terms or due to Your use of the Platform.
  1. ELECTRONIC RECORD
This document is an electronic record in terms of the Information Technology Act, 2000 and the rules framed there under as applicable, and the amended provisions pertaining to electronic records in various statutes as amended by the Information Technology Act, 2000. This electronic record is generated by a computer system and does not require any physical or digital signatures.

This document is published in accordance with the provisions of Rule 3 (1) of the Information Technology (Intermediaries Guidelines) Rules, 2011 that require publishing the rules and regulations, Terms of Use for access and usage of the Platform.
  1. CHANGE IN TERMS


We may update these Terms without any notice to You. You are encouraged to check these Terms on a regular basis to be aware of the changes made to them. Your continued use of the Platform after such change shall be deemed to be Your acceptance of the revised Terms.

The Terms were last modified on May 03, 2023.
 

Privacy Policy

Privacy Policy
Last updated on April 19, 2023

We, Gravity Hour Technologies Private Limited,(“Company”, “we”, “our”, “us”) are the owners of the website www.myfolio.ai (the “Website”) and the application ‘Myfolio’ (the “Application”). The Website and Application are collectively referred to as the platform (the “Platform”). The Platform offers a secure digital vault to store financial and non-financial information(“Offerings”).
The Company is committed to protecting your Personal Information and we respect your privacy and choices. This privacy policy (“Privacy Policy”) highlights our privacy practices, the Personal Information that we collect and store about you through this Platform, and also the Personal Information that you provide us while participating in our events and campaigns.
PLEASE READ THIS PRIVACY POLICY CAREFULLY. BY CLICKING ON THE CONSENT CHECK BOX, AND BY PROVIDING US PERSONAL INFORMATION, YOU CONSENT TO OUR USE OF YOUR PERSONAL INFORMATION IN ACCORDANCE WITH THE TERMS OF THIS PRIVACY POLICY. IF YOU DO NOT AGREE TO THIS PRIVACY POLICY, YOU MAY WITHDRAW YOUR CONSENT OR ALTERNATIVELY CHOOSE NOT TO PROVIDE YOUR PERSONAL INFORMATION ON THE PLATFORM. SUCH AN INTIMATION TO WITHDRAW YOUR CONSENT CAN BE PROVIDED BY EMAIL ON THE EMAIL ADDRESS BELOW.
IF YOU ARE ACCESSING THE PLATFORM ON BEHALF OF A THIRD PARTY, YOU REPRESENT THAT YOU HAVE THE AUTHORITY TO BIND SUCH THIRD PARTY TO THE TERMS AND CONDITIONS OF THIS PRIVACY POLICY AND, IN SUCH AN EVENT YOUR USE OF THE PLATFORM SHALL REFER TO THE USE BY SUCH THIRD PARTY. IF YOU DO NOT HAVE SUCH AN AUTHORITY (TO PROVIDE ANY PERSONAL INFORMATION OF A THIRD PARTY) OR DO NOT AGREE TO THE TERMS OF THIS PRIVACY POLICY, THEN YOU SHOULD REFRAIN FROM USING THE PLATFORM.
This Privacy Policy is an electronic record in the form of an electronic contract being compliant and construed in accordance with data protection laws of the applicable jurisdictions.

  1. Personal Information we collect and process and how we use it
    1. Personal Information that we process
For the purposes of this Privacy Policy, “Personal Information” is any data which relates to an individual who may be identified from that information, or from a combination of a set of data, and other information which is in possession of the Company.

For the purpose of this Privacy Policy, “User/s”, “you”, “your” shall mean and include individuals who visit, access, and/ or use the Platform.

We may collect your Personal Information as a part of our Offerings, including but not limited to:
  1. your name, address, gender, email address, contact information,
  2. your family information, family member’s information, nominee information.

In general, you may browse our Platform without providing any Personal Information about yourself. However, we may collect certain Personal Information such as
  1. Information that you provide on our Platform, including information you provide when you register on our Platform e.g. name, email address, residential address, designation, company, country, and telephone number;
  2. Information about your computer and about your visits to and use of this Platform, such as your Internet Protocol (IP) address, demographics, your computer’s operating system, and browser type and information collected via cookies; 
    1. Use of your Personal Information
We use your Personal Information for the following purposes:
  • to provide better usability, troubleshooting, and Platformmaintenance;
  • to understand which parts of the Platform are visited and how frequently;
  • to create your user ID;
  • to identify you once you register on our Platform;
  • to contact you and respond to your questions or requests;
  • to provide access to desirable content based on your preferences;
  • to process and transfer the information to the nominee appointed by you at the time of registration of your account with us;
  • for internal record keeping; and
  • and to comply with our legal or statutory obligations.
 
    1. Legal basis of the processing
We process your Personal Information when it is necessary for the performance of a contract to which you are the party or in order to take steps at your request prior to entering into a contract. This applies in any case where we provide services to you pursuant to a contract, such as when you use our Platform or process your registration on the Platform. If you do not provide the Personal Information that we need in order to provide our services, we will not be able to provide our services to you. We process your Personal Information for the performance of a contract in the following circumstances:
  • to provide better usability, troubleshooting, and site maintenance; and
  • to create your user ID.
We process your Personal Information when it is necessary for the purposes of a legitimate interest pursued by us or a third party (when these interests are not overridden by your data protection rights). This applies in the following circumstances:
  • to identify you once you register on our Platform; and
  • to contact you and respond to your questions or requests;
  • to understand which parts of the Platform are visited and how frequently; and
  • to provide access to desirable content based on your preferences.
  1. Consequences of not providing Personal Information
If you choose not to provide the Personal Information that is necessary to process your request, we may not be able to provide the respective Offerings.
 
  1. Data recipients, transfer, and disclosure of Personal Information:
The Company does not share your Personal Information with third parties for marketing purposes without seeking your prior permission. 
We share your Personal Information within 
  • our Company or with any of its subsidiaries;
  • Business partners;
  • Service vendors;
  • Authorized third-party agents; or 
  • Contractors.
We do not share your Personal Information (User Information pursuant to Clause 6 of the terms of use) to any parties except the nominee appointed by you at the time of registration of your account with us pursuant to the terms of service.
When required, we may disclose Personal Information to law enforcement bodies or regulatory authorities, in order to comply with legal obligations and applicable laws.
  1. Use of cookies:
We use cookies and/or similar in-house and third-party tracking tools to track user traffic patterns.
      1. What are Cookies?
Cookies are alphanumeric files that are placed on to your device when you visit a website. It allows us to recognize your device and store some information about your preferences or past actions, analyze trends, to learn about our user base, operate and improve our Offerings and provide you with a better experience when you visit our Website.
      1. Types of Cookies Used
  2. Permanent cookies – Permanent cookies help us recognize you as an existing user, so it’s easier for you to return to the website without signing in again. After signing in, the permanent cookies stay on your browser and will be read when you return to our sites. These remain on your computer/device for a pre-defined period.
  3. Session cookies – Session cookies only last for as long as the session exists (they get erased when the user closes the browser).
As for the domain to which it belongs, there are either:
    • First-party cookies: These cookies are set by the web server of the visited page and share the same domain.
    • Third-party cookies: These cookies are placed by a third party on your device and may provide information to us and third parties about your usage of the website.
    • Analytical Tools:
Google Analytics: We use Google Analytics, a web analytics service provided by Google Inc. (“Google”). Google Analytics uses cookies, text files that are stored on your computer and enables analysis of your use of the website. The information generated by the cookies about your use of the website are usually transferred to a server of Google in the US and stored there. We do not control third-party cookies.  You can also prevent the data generated by the cookie and related to your use of the website to Google and the processing of these data by Google, by visiting the following link. (https://tools.google.com/dlpage/gaoptout)
      1. Use of Cookies
We use Personal Information captured through cookies to make your interaction with us faster and more secure. They may be used for the following purposes:
  1. Preferences – Cookies allow the Website to remember information that changes the way the site behaves or looks, such as your preferred language or the region you are in. Remembering your preferences enables us to personalize and display advertisements and other content for you.
  2. Security/Optimization – Cookies allow us to maintain security by authenticating users, preventing fraudulent use of login credentials, and protecting user data from unauthorized parties. We may use certain types of cookies to allow us to block many types of attacks, such as attempts to steal content from the forms present on the website.
  3. Processing – Cookies enable the website to work efficiently. Basis such cookies, we are able to deliver services that a website visitor expects, like navigating around web pages or accessing secure areas of the website.
  4. Advertising – We use cookies to make advertising more engaging for our users. Some common applications of cookies are made to select advertising based on what’s relevant to you, to improve reporting on campaign performance and to avoid showing ads you would have already seen. Cookies capture information about how you interact with the website, which includes the pages that you visit most.
  5. Communication – We may use information collected via cookies to communicate with you, for sending newsletters, seeking your opinion and feedback and providing you with services and promotional materials.
  6. Analytics and Research – We may use cookies to better understand how people use our Offerings so that we can improve them.
      1. Disabling Cookies
You can decide whether to accept or not to accept cookies. You can disable the cookies by adjusting the settings on your browser (see your browser Help for how to do this). Disabling cookies may affect the functionality of our website.
  1. Access, correction, and objection of your Personal Information:
You have the right to access, correct, delete or transfer the Personal Information that we hold, including your profile and preferences. You also have the right to object to certain processing and, where we have asked for your consent to process your Personal Information, to withdraw this consent. Where we process your Personal Information because we have a legitimate interest in doing so (as explained above), you also have a right to object to this. These rights may be limited in some situations – for example, where we can demonstrate that we have a legal requirement to process your Personal Information.
You can assert your rights in the corresponding sections where such information was provided or by contacting us at support@myfolio.ai.
 
  1. Data security
We have implemented reasonable and appropriate security practices and procedures including administrative, physical security, and technical controls in order to safeguard your Personal Information.
 
  1. Data retention
Personal Information will not be retained for a period more than necessary to fulfil the purposes outlined in this Privacy Policy, unless a longer retention period is required by law or for directly related legitimate business purposes.
 
  1. Information for EU and UK Visitors
Residents of the European Union (“EU”) and United Kingdom (“UK”) should note that this Privacy Policyhas been updated in accordance with the requirements of the EU General Data Protection Regulation (the “GDPR”) and the UK GDPR, the United Kingdom Data Protection Act 2018, the Privacy and Electronic Communications Regulations, and any regulation superseding any of the foregoing (“UK Privacy Laws”). As per the provisions of the GDPR and UK Privacy Laws we shall be considered the Controllers of the Personal information collected as a result of your use / access of the Platform and Processors of the Personal information collected as a result of your use / access of the Services.
Legal Basis (for EU residents and UK residents): We will not process your Personal Information without a lawful basis to do so. We will process your Personal Information only on the legal bases of consent, contract, or on the basis of our legitimate interests, provided that such interests are not overridden by your privacy rights and interests.
Transfer of your personal information across borders (for EU Residents):The Personal Information we collect (of EU and UK residents) is stored on servers located in the EU region. Personal Information might be processed outside the EU and UK. We collect and transfer Personal Information outside the EU and UK in accordance with the provisions of the GDPR and UK Privacy Laws. If you have questions, please contactsupport@myfolio.ai.
Your Rights (For EU and UK Residents):
You have the right to request us:
  1.  to let you know what Personal Information belonging to you,
  2.  we hold in our possession,
  3. withdraw consent at any time where we are relying on consent to process your Personal Information,
  4. right to have us rectify or modify any such Personal Information,
  5. right to have us erase/delete your Personal Information,
  6. right to restrict us from processing such Personal Information,
  7. right to object to our use of your Personal Information,
  8. you have the right to lodge a complaint with a data protection authority.
UK residents have the right to make a complaint at any time to the Information Commissioner’s Office (“ICO”), the UK supervisory authority for data protection issues (www.ico.org.uk). We would, however, appreciate the chance to deal with your concerns before you approach the ICO so please contact us in the first instance. We may need to request specific information from you to help us confirm your identity or also contact you for further information in relation to your request. If you would like to exercise ANY of these rights, please contactsupport@myfolio.ai.
Governing Laws: For any EU and UK residents, this Privacy Policyshall be governed respectively by the provisions of the GDPR and UK Privacy Laws.
  1. Linked website/ platforms
Our Platform may contain links to third-party website/ platforms and services. However, we are not responsible for the privacy statements, practices, or the contents of such third-party website/ platforms.
 
  1. Governing Laws
This Privacy Policyshall in all respects be governed by and construed and enforced in accordance with the laws of Republic of India and the courts in Pune shall have an exclusive jurisdiction to adjudicate any subject matter under this Privacy Policy.
 
  1. How to contact us
    1. If you wish to exercise your rights of access, rectification, erasure, restriction, data portability or the right to object to the processing of Personal Information or if you have any questions or requests regarding this Privacy Policy, our processing or wish to file a complaint, you can contact our grievance officer, Asmita Manjarekar at support@myfolio.ai
    2. We will investigate all complaints and if a complaint is found justified, we will take all reasonable steps to resolve the issue.
    3. To guard against fraudulent requests, we may require sufficient information to allow us to confirm that the individual making the request is authorised to do so.
  2. Updates to this Privacy Policy
Wemay change the data privacy practices and update this Privacy Statement as and when the need arises, and the same will be made available on the Platform. But our commitment to protect the privacy of Platform users will continue to remain.

 

Executive Summary

The EU has implemented a data privacy and protection related regulation, “General Data Protection Regulation” (GDPR) with effect from May 25, 2018. GDPR outlines the main responsibilities for organisations, with the aim of ensuring that private individuals’ data is processed transparently and only for the specific purposes for which they hold the data.

The scope of this regulation has far-reaching consequences from data storage and encryption to the rights of individuals on managing their data. It seeks to unify data privacy regulations under the EU umbrella with the goal to ease international business processes while dealing with EU residents. The regulation applies globally to all businesses dealing with data subjects in the EU.

For GDPR, we are working diligently to ensure that we are compliant with the rules laid out by the law and provide product functionality that enables our users to remain compliant. In the following sections, we have outlined Myfolio’s approach to comply with the regulations outlined in the law.

 

Myfolio GDPR Compliance


Because we process users on behalf of our users, according to GDPR, we are considered a Data Processor and our users are regarded as Data Controllers. In the capacity of a Data Processor, all the information we receive or collect will be handled securely with adequate data protection. We will also ensure that we have an incident response plan to address an unforeseen incident that can put users’ users’ personal information at risk, in accordance with the Article 32 of the GDPR regulation.

 

Data Subject Consent

As a processor, we require users to sign up using their emails to access our Website or mobile application. Any profile information requested for collection by our users (the data controllers) will come under the purview of GDPR. Such information would be data elements like name, education, location, gender, resume information, etc., that can identify an individual.

According to Article 5 of the regulation, personal data can be “collected for specified, explicit and legitimate purposes and not further processed in a manner that is incompatible with those purposes (‘lawfulness, fairness and transparency’)”.

In addition, according to Article 6 of GDPR, lawful reasons to process are any of the following:

 
  • Data subject has given consent
  • Processing is necessary for the performance of a contract to which the data subject is party.
  • Processing is necessary for compliance with a legal obligation to which the controller is subject
  • Processing is necessary in order to protect the vital interests of the data subject
  • Processing is necessary for the performance of a task carried out in the public interest or in the exercise of official authority vested in the controller
  • Processing is necessary for the purposes of the legitimate interests pursued by the controller or by a third party.
 

Given that the processing should be fair, Myfolio will ensure that we obtain consent from users. We will update the terms & conditions with messaging that clearly states how we process information in a fair and transparent manner.

While GDPR requires that a data subject can revoke their consent at any time, pursuant to above stipulations in Article 6, it also allows this request to be declined if the processing of this information is required for legitimate interests pursued by the data controller. We will take action based on the user’s direction on how to proceed with any such request.

 

Data Management and Processing

 

This following section details exactly how we manage and process the data once we obtain it. It can be further broken down into following sections:


 

Data Transfer

 

Under Article 46 of the regulation, data can be transferred outside EU borders, if the processor has appropriate security measures in place, and if the user (data controller) and Myfolio (data processor) have entered into a contract that includes contractual clauses specified by EU. Article 49 provides additional basis for such a transfer. Transfer of data is allowed where “necessary for the performance of a contract between the data subject and the data controller.”

 

Data Storage

 

GDPR also stipulates that personally identifiable data should not be stored indefinitely. Myfolio will provide the flexibility to users (data controllers) to define how long their users’ personal data will be stored and when it will be deleted.

 

Secure Data Processing

 

According to Article 25 of GDPR, processing should be done using appropriate security measures.. Users should be assured that we take data security very seriously and have controls in place to make sure we are compliant to global standards.

 

Rights of the Data Subject

 

GDPR provides broad rights for data subjects on how to manage their personal data. These can be further broken down into:


 

  • Right to Access
  • Right to Rectification
  • Right to be Forgotten
  • Right to Data Portability
  • Right to Object
 

As discussed, per Article 5, we established that the information needs to be collected, stored and processed since there is legitimate interest for the controller to make the system fair. So, the user (data controller) can determine if the candidate’s (data subject’s) request is valid and can be fulfilled. Users can also deem the request as invalid and not fulfil, according to their agreed upon terms with the data subject. 
As a processor, Myfolio will empower its users with configurable tools that give them the flexibility to determine their data policies, which offer rights to their users. This will include:

  • Ability to set a routine data deletion process at a cadence determined by the user;
  • Ability to export information regarding a candidate.
  • Ability to delete information regarding a candidate. The personal data will be removed and the non-personal data will be anonymized.
  • Ability to edit candidate information.
 

Maintaining a Record

 

According to Article 30 of GDPR, each controller’s representative needs to maintain a record of all activities pertaining the personal information of a data subject.
Myfolio maintains a detailed Audit log of all the activities. As part of compliance, Myfolio will add any additional activities that users need to be recorded. User need to contact Myfolio to retrieve these logs.

 

Data Breach and Mitigation Process

 

Article 33 says that for any potential data breach, the supervisory authority must be notified within 72 hours of occurrence. Myfolio has sufficient data monitoring mechanisms in place to become aware of any such breach. On discovery of a breach, Myfolio intends to notify the user (controller) of the occurrence immediately, not exceeding 24 hours after the occurrence. The communication will be sent as per the guideline mentioned in Article 33. This will give sufficient time for our users to convey the breach to the respective authorities.

 

Myfolio GDPR commitment

 

At Myfolio our users’ security, defensibility, and compliance is the utmost priority. We are taking all the required steps ahead of time to ensure that we are compliant and, in turn, our users are GDPR-compliant as well.




 

Cancellation And Refund Policy Of My Folio

MyFolio charges and collects the Subscription Fees in advance for the use of SaaS Services. SaaS Services rendered by My Folio to the end users are non-refundable. Upon providing the billing information to My Folio, My Folio shall raise the Invoice on the same.

Cancellation.
 

  1. The User may terminate the Clients subscription to the paid Services, at any time, by selecting the "Cancel Account" link or by sending an email to support@myfolio.ai.
  2. After cessation or termination of the User's Services, My Folio shall delete the User's account and the User Content (if any), within thirty (30) days, and thereafter, My Folio shall be released of any and all its obligation in relation to the User Content.


Refund.
 
  1. The User shall not be entitled to any refund if in case the User cancels his/her account with My Folio or if the Agreement is terminated between MyFolio and the User in accordance with the terms of service of MyFolio .


Contact us.

If the Users have any queries regarding this Cancellation and Refund policy of My Folio, the Users can submit the same to My Folio by writing an email to My Folio on support@myfolio.ai.

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