Terms of Service

These Terms of Service ("Terms") form a binding legal agreement between MegoForex.com and RBP Finivis Private Limited, a company incorporated under the Companies Act, 2013, having its registered office at Office No 18 Third Floor Argo Mall Sector 20 Panchkula Haryana 134117 India, holder of RBI Authorised Dealer Category-II Licence No. CGFFMC 250/2021 (hereinafter referred to as "MEGO FOREX", "RBP Finivis Private Limited Company", "we", "us" or "our"), and the person, firm, or entity registered as an Agent under the MEGO FOREX Agent Programme (hereinafter referred to as "Agent", "you", or "your").

By submitting an application, signing the Agent Registration Form, accessing the MEGO FOREX Agent Portal, or referring any client to MEGO FOREX, you acknowledge that you have read, understood, and irrevocably accepted these Terms of Service, all of which are incorporated by reference.

"Agent Programme"

means the channel partner / referral programme operated by MEGO FOREX under which Agents introduce prospective customers for foreign exchange services.

"Applicable Law"

means all statutes, rules, regulations, and notifications applicable in India, including the Foreign Exchange Management Act, 1999 (FEMA), the Prevention of Money Laundering Act, 2002 (PMLA), the Reserve Bank of India Act, 1934, the Information Technology Act, 2000, the Digital Personal Data Protection Act, 2023 (DPDP Act), and all guidelines, master directions, and circulars issued by the Reserve Bank of India (RBI), the Financial Intelligence Unit-India (FIU-IND), and other competent authorities.

"Customer"

means any individual or entity referred by the Agent to MEGO FOREX for availing foreign exchange products and services, including currency exchange, outward remittance, forex cards, and travel-related forex services.

"Commission"

means the consideration payable by MEGO FOREX to the Agent for successful Customer referrals as set out in Schedule A (Commission Structure).

"KYC"

means Know Your Customer norms as prescribed by the RBI and FIU-IND.

3.2 MEGO FOREX reserves the absolute right to accept or reject any application without assigning any reason.

3.3 You shall submit all KYC documents, photographs, address proof, bank details, and a self-declaration in the format prescribed by MEGO FOREX. Any misrepresentation shall be ground for immediate termination.

4.1 The Agent is engaged on a principal-to-principal, non-exclusive basis as an independent contractor.

4.2 Nothing in these Terms shall be construed to create a relationship of employer-employee, partnership, joint venture, franchise, or agency in law beyond the limited authority expressly granted herein.

4.3 The Agent shall not represent themselves as an employee or officer of MEGO FOREX, shall not have authority to bind MEGO FOREX to any contract, and shall not collect cash, foreign currency, or any monetary consideration from Customers in their personal capacity.

6.1 Commission shall be calculated and paid as per Schedule A. MEGO FOREX may revise commission rates by giving fifteen (15) days' prior written notice.

6.2 Commission shall accrue only upon (a) successful completion of the underlying forex transaction, (b) realisation of full consideration from the Customer, and (c) receipt of a valid GST-compliant invoice from the Agent (where applicable).

6.3 All payments are subject to deduction of TDS under Section 194H or Section 194-O of the Income-tax Act, 1961, as applicable, and any other statutory levies.

6.4 Where a transaction is reversed, cancelled, charged-back, or found to be non-genuine, the Commission paid (if any) shall be recoverable from the Agent and may be adjusted against future payouts.

7.1 The Agent acknowledges that MEGO FOREX is bound by the RBI Master Direction on Know Your Customer (Updated), the Master Direction — Money Changing Activities, and PMLA obligations.

7.3 The Agent shall not split a single transaction into multiple smaller transactions in the name of one Customer or related Customers to circumvent any limit prescribed under FEMA or the Liberalised Remittance Scheme.

8.1 All trademarks, logos, brand names, service marks, copyrights, software, content, and marketing collateral of MEGO FOREX are and shall remain the exclusive property of MEGO FOREX.

8.2 The Agent is granted a limited, non-exclusive, non-transferable, revocable licence to use the MEGO FOREX marks solely for the purpose of identifying themselves as an authorised Agent, strictly in the format and template approved in writing by MEGO FOREX.

8.3 Any unauthorised use, misuse, or registration of marks confusingly similar to those of MEGO FOREX shall constitute material breach and infringement, entitling MEGO FOREX to seek injunctive and other remedies.

9.1 "Confidential Information" includes Customer data, transaction data, pricing, commission structures, business strategies, software, and any non-public information of MEGO FOREX disclosed to the Agent.

9.2 The Agent shall hold all Confidential Information in strict confidence, use it solely for the purposes of this Agreement, and shall not disclose it to any third party without prior written consent. The confidentiality obligation shall survive termination of these Terms for a period of five (5) years.

The Agent shall process Customer personal data only as a data processor on behalf of MEGO FOREX, strictly in accordance with the Digital Personal Data Protection Act, 2023, and the MEGO FOREX Privacy Policy. The Agent shall implement reasonable security practices and shall report any personal data breach to MEGO FOREX within 24 hours of becoming aware.

11.1 The Agent represents and warrants that all information provided is true, that they have the authority to enter into these Terms, and that performance hereunder shall not violate any law or third-party right.

11.2 The Agent shall indemnify, defend, and hold harmless MEGO FOREX, its directors, officers, employees, and affiliates from and against any and all claims, losses, damages, penalties (including regulatory penalties under FEMA/PMLA), legal fees, and expenses arising out of: (a) breach of these Terms; (b) negligent, fraudulent, or wilful act or omission of the Agent; (c) misrepresentation to any Customer; or (d) violation of Applicable Law.

12.1 Subject to Applicable Law, the total aggregate liability of MEGO FOREX towards the Agent under or in connection with these Terms shall not exceed the total Commission paid to the Agent in the three (3) months preceding the event giving rise to the claim.

12.2 In no event shall MEGO FOREX be liable for any indirect, incidental, consequential, special, or exemplary damages, including loss of profits, revenue, goodwill, or business opportunity.

13.1 These Terms shall commence on the date of acceptance and continue until terminated.

13.2 Either party may terminate for convenience by giving thirty (30) days' written notice.

13.3 MEGO FOREX may suspend or terminate the Agent's account with immediate effect upon: (a) breach of the Agent Code of Conduct or any provision of these Terms; (b) any adverse regulatory or law-enforcement finding; (c) failure to maintain KYC currency; (d) reasonable suspicion of fraud, mis-selling, hawala, or money-laundering.

13.4 Upon termination, the Agent shall immediately cease use of all MEGO FOREX marks, return all Confidential Information, and stop holding out as an Agent. Accrued but unpaid Commission for genuine completed transactions shall be paid net of any recoveries due.

Neither party shall be liable for any failure or delay caused by acts of God, war, civil unrest, pandemic, regulatory action, internet or banking outage, or any event beyond reasonable control, provided the affected party gives prompt notice and makes reasonable efforts to mitigate.

15.1 These Terms shall be governed by and construed in accordance with the laws of India.

15.2 Any dispute arising out of or in connection with these Terms shall first be referred to good-faith negotiation between authorised representatives of the parties for a period of thirty (30) days.

15.3 If unresolved, the dispute shall be referred to arbitration under the Arbitration and Conciliation Act, 1996, by a sole arbitrator appointed by MEGO FOREX. The seat and venue of arbitration shall be Panchkula Haryana, India. The language shall be English. The arbitral award shall be final and binding.

15.4 Subject to the arbitration clause above, the courts at Panchkula Haryana, India shall have exclusive jurisdiction.

16.1 Amendment: MEGO FOREX may amend these Terms by posting an updated version on www.megoforex.com or notifying the Agent. Continued participation in the Programme constitutes acceptance.

16.2 Assignment: The Agent shall not assign these Terms without prior written consent. MEGO FOREX may assign freely.

16.3 Severability: If any provision is held unenforceable, the remainder shall continue in full force.

16.4 Notices: Notices to MEGO FOREX shall be sent to LEGAL@MEGOFOREX.COM; notices to the Agent shall be sent to the email/address on record.

16.5 Entire Agreement: These Terms, together with the Agent Registration Form, the Agent Code of Conduct, the Privacy Policy, and Schedule A, constitute the entire agreement and supersede all prior arrangements.