Terms Of Use

(Last Updated on 10/03/2020)

These Terms of Use ("Terms of Use") apply to Your access to, and use of the (a) Company's website (www.bidassist.com); (b) Company's mobile application; and (c) any service that may be provided by the Company using the website and/or the mobile application ((a), (b) and (c) above collectively, “Services”). The Services are operated by OFG MANUFACTURING BUSINESSES PRIVATE LIMITED, and its subsidiaries, associates, licensees,and affiliated companies (“Company”).

In these Terms of Use, references to "You" or "Your", "User" or "Users" shall mean the user subscribing to or using any of the Services, "We", "Us", "Our" or "BidAssist" shall mean the Company and Database shall mean the data content of the Company. These Terms of Use are applicable to all the Services provided by the Company.

You acknowledge that the Company is providing You with a revocable license to use limited features of the Services and is not selling the Services or any features or technologies contained therein.

Any participation in the Services will constitute acceptance of this agreement. If You do not agree to abide by the below, please do not use the Services.

Scope of use

You may only use the website and/or mobile application solely to obtain Services provided by the Company and for no other purpose whatsoever. You shall not interrupt or attempt to interrupt the operation of the website and/or the mobile application in any way. You shall not intrude or attempt to intrude into the servers hosting the website and/or mobile application in any way.

You shall make payments of all amounts to the Company when due in accordance with these Terms of Use, including any duties, taxes, fees and/or related charges whether or not included in the amounts quoted on the website and/or mobile application. User shall also agree to pay all duties, taxes, and related charges arising out of its use of the Services.

In the event that any transaction or attempted transaction relating to BidAssist which violates these Terms of Use, the Privacy Policy (defined hereafter) or applicable law comes to Your knowledge, You shall take all steps to promptly inform BidAssist of the same. You shall at all times ensure full compliance with the applicable laws and rules and regulations regarding Your use of Our Services.

You are prohibited from collecting phone numbers, email addresses or other contact information of other Users, through any means whatsoever, without authorization from BidAssist; selling, cross-selling or distributing Services to any third party or allowing multi-user access to the Services by sharing Your password and user identification; using any automated software, hardware or any other similar mechanism to use access, navigate or search the website and/or mobile application; and posting or transmitting any information on the website and/or the mobile application including unauthorized or unsolicited advertising, promotional materials, or any other forms of unauthorized solicitation to other Users (other than the information specifically permitted/ required to be posted or transmitted under these Terms of Use.

Modifications / Amendments

We may, at any time, for any reason, without assigning such reason, without notice, make changes to the website, including its look, feel, format and content (defined hereafter); the Services provided through the website and/or the mobile application; and these Terms of Use. Any such modifications/amendments as provided for in clause above will take effect from the time they are posted on the website and/or the mobile application. By Your continued usage of the website and/or the mobile application upon such changes being posted, You will be deemed to have accepted such changes. BidAssist is continually seeking to improve the website and Services offered. In respect of any Subscription Services, We will ensure that any changes do not materially decrease the functionality of those Services.

Fees, Payments and Tax

BidAssist reserves the right to charge listing fees for certain listings, as well as transaction fees on the purchases made using the Website and/or the Mobile application. We reserve the right to alter any and all fees from time to time, without notice.

In case, there is any short charging by BidAssist for listing or transaction fees or any other fee because of technical or other reasons, BidAssist reserves the right to deduct/charge/claim the balance subsequently at its own discretion.

BidAssist currently accepts payments through: (a) Indian credit cards and Indian debit cards; (b) internet banking of certain banks in India; and, (c) online wallets of certain companies and (d) UPI . In cases that BidAssist deems appropriate, BidAssist may accept payments through cheques issued by banks in India or in cash or through NEFT and RTGS transactions. BidAssist may from time to time and in its sole discretion agree to accept payments through such other modes as BidAssist may deem appropriate. All payments must be made in Indian Rupees. Current billing address, phone number, and other information demanded on the Website and/or Mobile application must be included with every Services requests.

By booking with BidAssist, You authorize BidAssist and its agents to transact with Your bank or other payment gateways to obtain necessary information required to process payment, confirm payment, resolve inquiries and billing disputes and/or as otherwise required to manage the booking/ reservation. You must adhere to the terms and conditions that are prescribed by the payment gateways through which You choose to transact. BidAssist shall not be responsible for any Losses incurred by You while transacting through these payment gateways.

Refund / Cancellation Policy

We recommend You to go through Our refund policy before subscribing Our Service. Services are activated upon complete advance payment only.

Subscription Services CANNOT be cancelled and charges are non-refundable once the account is activated.

We are reliant on tendering authority for display or update of any information related to any tender. We do Our best efforts to provide You information as and when it is published or made available by tendering authority. However, under any circumstances User can’t claim refund for any late information or missed tender or for any errors or missing information on BidAssist.

User is asked to fill up basic mandatory details while applying for subscription Services like company name and address, contact details, email id etc. If details provided by user are incorrect or contains any typo error failing to which user is unable to receive notifications and alerts, user should get the same resolved immediately. For any such concerns, User can’t claim refund from the Company.

Limitation of Liability

The Company and its affiliates, agents, and licensors provide the Service on as is basis, and cannot and do not warrant the accuracy, completeness, correctness, non- infringement, merchantability, or fitness for a particular purpose of the information available through this Service, or the Service itself. Neither the Company nor any of its employee, affiliates, agents, or licensors shall be liable to Users or anyone else for any Loss or injury caused in whole or part by its negligence or contingencies beyond its control in procuring, compiling, interpreting, reporting, or delivering the Service and any information through the Service.

For each and every tender information, initial tender notice (issued by the tendering authority) has been made available on website. Bidder are requested to read the tender notices very carefully


You agree to indemnify, defend and hold harmless the Company, its employees, attorneys and agents, from and against any and all Losses asserted against or incurred by the Company that arise out of, result from, or may be payable because of, any breach or non-performance of any representation, warranty, covenant or agreement made or obligation to be performed by You pursuant to these Terms of Use or any other liabilities arising out of Your subscription to or use of the Website and/or the Mobile application.

Intellectual property rights

The website and/or mobile application, and each of their modules is the copyrighted property of the Company and/or its various third party providers. The website and/or mobile application contains material, which is protected by copyright and/or other intellectual property rights. The Company reserves all rights in the website and/or mobile application and their content not specifically granted in these Terms of Use.

Any software that is made available to download from the website and/or mobile application (“Software”) is the copyrighted work of the Company and/or its various third party providers. Your use of the software is governed by the terms of the end user license agreement, if any, which accompanies or is included with the software (License Agreement). You may not install or use any software that is accompanied by or includes a License Agreement unless You first agree to the License Agreement terms. For any software not accompanied by a License Agreement, the Company hereby grants to You, the User, a personal, non-exclusive, non-transferable license to use the Software for viewing and otherwise using the website and/or mobile application in accordance with these Terms of Use and for no other purpose and such license may be terminated and revoked by the Company at any time for any reason. Please note that all software is owned by the Company and is protected by copyright laws and international treaty provisions. Any reproduction or redistribution of the software is expressly prohibited by law, and may result in severe civil and criminal penalties.

“BidAssist”, “BidAssist.com” and other BidAssist graphics, logos, taglines and Service names are the intellectual property of BidAssist. Except as specifically permitted herein, these shall not be used by the user or any other person without the prior written permission from BidAssist. All other trademarks not owned by BidAssist that appear on the website and/or the mobile application are the property of their respective owners, who may or may not be affiliated with, connected to, or sponsored by BidAssist.

BidAssist grants You a limited, personal, non-exclusive and non-transferable license only for such use. Users must not republish any part of the data either on another website, or in any other medium, print, electronic or otherwise, or as part of any commercial Service without the prior written permission of BidAssist

You shall not alter or modify the content in any way. You shall not use, reproduce, republish, distribute, prepare derivative works, or otherwise use the content (or any portion thereof) other than as explicitly permitted herein.

You shall not remove any: (a) copyright, trade-mark or other intellectual property notices from any content (or from copies and/or printouts thereof); and/or (b) link to the website and/or mobile application from any place, without Our express written consent.

You do not acquire any ownership rights to any content. Any unauthorized use of the content shall terminate the permission or license granted by BidAssist herein.

You shall not transfer the content to any other person except with the prior written consent of the Company. You agree to abide by all additional restrictions in relation to the content displayed on the website and/or mobile application, as may be updated from time to time.

Notwithstanding the above, BidAssist does not represent or guarantee that it has any right (including intellectual property rights) on the content including the right to allow use thereof by the Users.

Links to Third Party Websites

The website and/or mobile application may be linked to other websites on the World Wide Web that are not under the control of or maintained by BidAssist. Such links do not indicate any responsibility or endorsement on Our part for the external website concerned, its contents or the links displayed on it. BidAssist has no responsibility or liability for and makes no representations whatsoever about any other website that You may have access to through Our Website and/or mobile application. These linked sites are only for Your convenience, and therefore, You access them at Your own risk.

BidAssist shall not be liable for any Loss associated with Your use of such other websites. BidAssist seeks to protect the integrity of its Website and/or mobile application and the links placed upon it and therefore requests any feedback on not only its own Website and/or mobile application but also third party links. BidAssist reserves the right, at its sole discretion, to terminate any link or linking program at any time and for any reason it deems appropriate.


In case of any dispute arising out of or in relation to this “Terms of Use”, the dispute shall be settled through arbitration under the Indian Arbitration and Conciliation Act, 1996 (amendments thereto). The arbitration shall be referred to a sole arbitrator appointed by US. The venue of arbitration proceeding shall be New Delhi, India. All proceedings shall be in English.  The award of the arbitrator shall be final and binding on the Parties and the expenses of the arbitration shall be borne in such manner as the arbitrator may determine.


Use of BidAssist shall be governed by and construed in accordance with Indian law of Contracts for the Use of Services by its Users. If any provision of these Terms of Use is declared by a Court of competent jurisdiction to be invalid, illegal, or unenforceable, such provision shall be severed from the license and the other provisions shall remain in full force and effect.

All the disputed matters shall have the jurisdiction of NCT of Delhi and/or Gurgaon, Haryana.


Any Past invoices before 10th March 2020, which are issued by OFB Tech Pvt. Ltd.,services against those invoices shall be fulfilled/performed by OFG MANUFACTURING BUSINESSES PRIVATE LIMITED.

Bidassist Fair Usage Policy

Bidassist provides its users with access to a vast database of tender information through its Tender Search Subscription Package. In order to ensure a fair and equitable experience for all users, Bidassist has established the following Fair Usage Policy.

  1. Definition of Fair Usage
  2. Fair usage refers to the reasonable and normal usage of the Tender Search Subscription Package in accordance with its intended purpose. This includes the appropriate and lawful use of the service, without excessively and disproportionately impacting the availability and quality of the service for other users.

  3. Prohibitions
  4. Bidassist prohibits the following types of usage:

    1. Using the service for any illegal or malicious purposes, such as hacking, phishing, or distributing viruses or malware.
    2. Engaging in any activity that interferes with the proper functioning of the service or with the use of the service by other users.
    3. Reselling or redistributing the service to any third party.
    4. Automated scraping or extraction of data from the service, including through the use of scripts or bots.

  5. Limitations
  6. In order to maintain fair usage, Bidassist reserves the right to impose limitations on the use of the Tender Search Subscription Package, including but not limited to:

    1. Limiting the frequency and volume of searches and data downloads. Sending email list will be restricted to 20 tender emails per month and download to 1000
    2. Limiting the number of simultaneous users.
    3. Limiting access to certain features or functionality of the service.

  7. Monitoring and Enforcement
  8. Bidassist reserves the right to monitor and enforce this Fair Usage Policy. Any user who engages in usage that is deemed to be excessive or in violation of this policy may have their access to the Tender Search Subscription Package temporarily or permanently suspended post 1 month of notice.

  9. Changes to the Policy
  10. Bidassist reserves the right to modify this Fair Usage Policy at any time, with or without notice. Your continued use of the Tender Search Subscription Package after any changes have been made constitutes your acceptance of the new policy.

    By using the Tender Search Subscription Package, you agree to comply with this Fair Usage Policy and to use the service in a reasonable and lawful manner. If you have any questions or concerns regarding this policy, please contact Bidassist customer support.

Privacy Policy


This Policy is owned and operated by Bidassist and belongs to OFG Manufacturing Businesses Private Limited (“the Company”), henceforth referred to as "Bidassist Privacy Policy".

In the course of using this website or availing the products and services, Bidassist may become privy to the personal information of its users, including information that is of a confidential nature. Bidassist provides services to the users through the website and is committed to protecting and respecting the privacy of the users and has taken all necessary and reasonable measures to protect the confidentiality of the user information and its transmission through the World Wide Web. Bidassist shall not be held liable for disclosure of the confidential information if such disclosure is in accordance with this Privacy Policy (“Policy”) or in accordance with the terms of any agreements entered with the users. Bidassist also assures not to disclose all information (except in some limited circumstances as mentioned below) that it learns during the transactions and payments made to the user’s account(s). “user (s)” shall mean and include all companies and private organizations that visit the website and provide information to Bidassist through any of the modes referred to in the clause on "Collection of Information" below. All words and expressions used in this policy shall have the meanings respectively assigned them in the prescribed Act.


The Policy is made based on the following laws:

  1. The Information Technology Act, 2000
  2. General Data Protection Regulation (GDPR)


We collect two basic types of information – personal information and anonymous information – and we may use personal and anonymous information to create a third type of information, aggregate information. In particular, we collect:

  • Registration information you provide when you create an account, enter a promotion, or link your profile on a third-party site or platform with your registration account, such as your first name and surname, country of residence, gender, email address, username
  • Transaction information you provide when you request information, contact Services, or purchase, a plan or service from us, such as your postal address and telephone number
  • Details related to the name of the Company, Date of Incorporation, GST Number, Billing Address, Turnover, Operating Locations (Countries and States), Website details, Company Type, Contact Details such as Name of the Contact, Email Id, Phone Number and the Designation of the concerned person
  • Information you provide in public forums on our sites and applications
  • Information sent either one-to-one or within a limited group using our message, chat, post, or similar functionality, where we are permitted by applicable law to collect this information
  • Information we obtain from a third party, such as a site or platform provider, about use of our applications on third-party platforms or devices
  • Location information, including location information provided by a mobile or other device interacting with one of our sites, applications, or physical properties, or associated with your IP address or other online or device identifier, where we are permitted by law to process this information
  • Activity information about your use, and the use by any person(s) you authorize through your account, of our sites and applications, such as the tenders you search, how often you use our services, and your preferences
  • Usage, viewing, technical, and device data when you visit our sites, use our applications on third-party sites or platforms, or open emails we send, or connect with our wireless Internet access services and other similar technologies, including your browser or device type, unique device identifier, and IP address
  • Call recordings when you call our Customer Care, Chat, SMS, and mails while if you opt for Whatsapp, Email etc and other services
  • Product Notifications: By signing up, you agree to receive product notifications that we consider integral to your overall product experience. These notifications may include important updates, promotions, and relevant information about our services. You can opt-out of receiving product notifications at any time by adjusting your account settings or following the instructions provided in the notifications.


  • We collect information you provide to us when you request or purchase product, services, or information from us, register with us (including when you link your profile on a third-party site or platform with your registration account), or other activities on our sites and applications, respond to guest surveys, visit our physical properties, call our Customers centers, or otherwise (including emails and whatsapp) interact with us using one or more devices. You may provide information in a variety of ways, including by typing or using voice commands
  • We collect information through a variety of technologies, such as cookies, Flash cookies, pixels, tags, software development kits, application program interfaces, and Web beacons, including when you visit our sites and applications or use our applications on third-party sites or platforms using one or more devices, whether or not you are logged in or registered.
  • We acquire information from other trusted sources to update or supplement the information you provided or we collected automatically, such as when we validate postal address information using third party services. Applicable law may require that you authorize the third party to share your information with us before we can acquire it.


The Bidassist that is the data controller for your information is responsible for and may use your information for the purposes described in this policy. Other group companies may access your information where they perform services on behalf of the data controllers (as data processors) and, unless prohibited under applicable law, for use on their own behalf (as data controllers) for the purposes described in this policy. Consistent with applicable law and choices and controls that may be available to you, we may use information collected from you, or from devices associated with you, to:

  • Provide you with the experiences, products, and services you request, view, engage with, or purchase
  • Communicate with you about your account or transactions with us and send you information or request feedback about features on our sites and applications or changes to our policies
  • Send you offers and promotions for our products and services or third-party products and services
  • Personalize content and experiences
  • Provide you with targeted advertising based on your activity on our sites and applications and on third-party sites and applications
  • Operate, understand, optimize, develop, or improve our sites, applications, products, services and operations, including by using survey research and analytics tools; and
  • Detect, investigate and prevent activities that may violate our policies, pose safety issues, or be fraudulent or illegal; and
  • Notify you of product recalls or safety issues.
  • Bidassist will use the Data including personal data in the legitimate manner and the information will not be further processed by bidassist in any manner without asking for the consent.


We may disclose user’s information to such third parties to whom it transfers its rights and duties under the agreement entered into with the users. In such an event, the said third parties use of the information will be subject to such confidentiality obligations as contained in the policy.


We provide you the ability to exercise certain controls and choices regarding our collection, use and sharing of your information. In accordance with applicable law, your controls and choices may include:

  • Correcting, updating, and deleting your registration account
  • Choosing or changing your choices for subscriptions, newsletters, and alerts
  • Choosing whether to receive from us offers and promotions for our products and services, or products and services that we think may be of interest to you
  • Choosing whether we share your personal information with other companies so they can send you offers and promotions about their products and services
  • Controlling targeted advertising from many ad networks and partners; data exchanges; and marketing analytics and digital advertising and marketing service providers
  • Choosing to control targeted advertising you receive within applications by using the settings and choices made available to you through your device(s), for example, by re-setting your device’s advertising identifier and/or opting out of interest based ads
  • Requesting removal of your personal information from a public forum on one of our sites or application; and
  • Requesting access to the personal information we hold about you and that we amend or delete it

You may exercise these controls and choices in various ways, contacting Customer Service Centre, following instructions provided in communications sent to you, or by using your device or other available settings (for example, by re-setting your device’s advertising identifier, unsubscribing emails, changing notification settings in your account and/or opting out of interest based ads).

Please be aware that if you do not allow us to collect personal information from you, we may not be able to deliver certain experiences, products, and services to you, and some of our services may not be able to take account of your interests and preferences. If collection of personal information is mandatory, we will make that clear at the point of collection so that you can make an informed decision whether to participate. If you have questions about the specific personal information about you that we process or retain, and your rights regarding that personal information, please contact Customer Service Centre


Bidassist takes the security of its user’s information very seriously. Bidassist protects the user’s information using bank-level data security: 128 bit-encryption and a TLS 1.2 protocol. This creates an encrypted connection between the user’s browser and Bidassist servers. All information always remains encrypted. Bidassist doesn’t store any banking information (username, password etc) in any manner

All information provided to Bidassist is stored on its secure servers whether outside or within India

Bidassist uses commercially reasonable safeguards to preserve the integrity and security of the users’ information against loss, theft, unauthorized access, disclosure, reproduction, use or amendment.

The information that is collected from the users may be transferred to and stored at a destination inside or outside India. By submitting information on the website, the users agree to this transfer, storing and/ or processing. Bidassist will take such steps as it considers reasonably necessary to ensure that the users’ information is treated securely and in accordance with the Policy.

In using the website, the users accept the inherent security implications of data transmission over the internet and the World Wide Web cannot always be guaranteed as completely secure. Therefore, the use of the website will be at the own risk of the users.

Bidassist assumes no liability for any disclosure of information due to errors in transmission, unauthorized third-party access or other acts of third parties, or acts or omissions beyond its reasonable control and the user agrees not to hold Bidassist responsible for any breach of security unless such breach has been caused as a direct result of gross negligence or willful default by Bidassist.

In the event Bidassist becomes aware of any breach of the security of the users’ information, it will promptly notify the users and take appropriate action to the best of its ability to remedy such a breach.


This Policy does not apply to any information other than information collected by Bidassist through the website and applications including such information collected in accordance with the clause on “Collection of Information” above. This Policy shall not apply to any unsolicited information provided by the users through this website or through any other means. This includes, but is not limited to, information posted to any public areas of the website. All such unsolicited information shall be deemed to be non-confidential and Bidassist shall be free to use, disclose such unsolicited information without limitation

Bidassist shall obtain digital consent from the provider of the sensitive personal data or information regarding purpose of usage before collection of such information. During the use of the website, Bidassist may collect and process information from the users as mentioned above,

While collecting information directly from the person concerned, Bidassist or any person on its behalf snail take such steps as are, in the circumstances, reasonable to ensure that the person concerned is having the knowledge of

  1. the fact that the information is being collected
  2. the purpose for which the information is being collected
  3. the intended recipients of the information.

Bidassist or any person on its behalf shall, prior to the collection of information including sensitive personal data or information provide an option to the provider of the information to not to provide the data or information sought to be collected. The provider of information shall, at any time while availing the services or otherwise, also have an option to withdraw its consent given earlier to Bidassist Such withdrawal of the consent shall be sent in writing to the Bidassist. In the case of provider of information not providing or later on withdrawing his consent Bidassist shall have the option not to provide goods or services for which the said information was sought.

Data retention

User information will be retained for as long as the user account is active or as needed to provide services to the user or otherwise required under any other law for the time being in force. If the user wishes to cancel its account or requests that Bidassist no longer uses its information to provide services, the user may contact Bidassist at contact@bidassist.in. Bidassist will retain and use user information as necessary to comply with its legal obligations, resolve disputes, and enforce its agreements or for other business purposes.

Changes to privacy policy

In the event Bidassist modifies this Privacy Policy, the same will be updated on the website. This policy may be changed, but any changes will be posted, and changes will only apply to activities and information on a going forward, not retroactive basis. The users are encouraged to periodically review this page for the latest information on its privacy practices. In case of any material changes to the Policy, the users will be notified by email (sent to the email address specified in the user’s account) or by means of a notice on this website prior to the change becoming effective.


Bidassist has made every effort to ensure that this Policy adheres with the applicable laws. The invalidity or unenforceability of any part of this Policy shall not prejudice or affect the validity or enforceability of the remainder of this Policy.

No waiver

The rights and remedies available under this Policy may be exercised as often as necessary and are cumulative and not exclusive of rights or remedies provided by law. It may be waived only in writing. Delay in exercising or non-exercise of any such right or remedy does not constitute a waiver of that right or remedy, or any other right or remedy.


Bidassist will protect every bit of the users’ business or personal information and maintain the confidentiality of the same. With this seal of trust, Bidassist makes its services available to the users for assessment and analysis that include credit and behavior scoring, market and product analysis.

Bidassist guarantees that it is going to keep all information confidential except in the following cases:

  • Bidassist may disclose users’ information to governmental and other statutory bodies who have appropriate authorization to access the same for any specific legal purposes.
  • Bidassist may disclose users’ information if it is under a duty to do so in order to comply with any legal obligation, or in order to enforce or apply the Terms of Use (displayed on the website), or to protect the rights, property or safety of Bidassist, its users or others. This includes exchanging information with other companies / agencies that work for fraud prevention and credit reference.
  • Bidassist may disclose users’ information to its agents under a strict code of confidentiality.
  • Bidassist may disclose users’ information to such third parties to whom it transfers its rights and duties under the customer agreement entered into with the users. In such an event, the said third parties’ use of the information will be subject to such confidentiality obligations as contained in this Policy.
  • Bidassist may disclose users’ information to any member of its related or group companies including its subsidiaries, its ultimate holding company and its subsidiaries, as the case may be.
  • In the event that Bidassist sells or buys any business or assets, it may disclose the users’ information to the prospective seller or buyer of such business or assets. user, email and visitor information are generally one of the transferred business assets in these types of transactions. Bidassist may also transfer or assign such information in the course of corporate divestitures, mergers or dissolution.


To opt out of email correspondence from Bidassist or make a change to (or delete) the user information stored in Bidassist records, please contact Bidassist at contact@bidassist.in

The user may address to:


#6th floor, Tower A, Global Business Park,

M.G. Road, Gurgaon-122001

Bidassist will respond to the user’s request within 30 days.


Bidassist has designated Mr. Bhuvan Kumar Gupta, as the grievance officer and Data Protection Office in compliance with Rule 5(9) of the Information Technology (Reasonable Security Practices and Procedures and Sensitive Personal Data or Information) Rules, 2011 and Regulation 13 (b) of General Data Protection Regulation. In case of any grievance regarding the use of your Information, please write at

Email: contact@bidassist.in

Address: 6th floor, Tower A, Global Business Park,

M.G. Road, Gurgaon-122001

With all relevant details of your grievance. Bidassist will respond to all relevant user queries within 30 days.

Loan Policy (Oxyzo)

The Company offers various financial products including Purchase financing, Bills/Invoice discounting, Project loan, Working capital loan, Lease rental discounting, Loan for purchase of commercial property purchase among others. The below clause will apply to all kinds of financial products offered by the company. The 'Application Form / appropriate documents' of OfBusiness for each of these products offered by the Company is different depending upon the requirement of each product and will include all information that is required to be submitted by the Borrower. Necessary information will be provided by OfBusiness to facilitate the Borrower in making a meaningful comparison with similar terms and conditions offered by other Non Banking Finance Companies (NBFCs) and taking an informed decision based on the aforesaid comparison. The 'Application Form/ appropriate documents' of OfBusiness may also indicate the list of documents required to be submitted by the Borrowers along with the Application form. OfBusiness has a mechanism of giving an acknowledgement for receipt of Application form to its Borrower for availing loans. OfBusiness would inform the Borrower about its decision within reasonable period of time from the date of receipt of all the required information in full.

Loan appraisal and terms/conditions

OfBusiness shall convey in writing to the Borrower by way of a sanction letter or otherwise, the amount of limit sanctioned along with all the terms and conditions including annualized rate of discount/ interest and method of application thereof and keep the acceptance of these terms and conditions by the borrower on OfBusiness's record. Any clause relating to penal interest charged for late repayment will be specified in bold in the Loan Agreement. OfBusiness at the time of sanction / disbursements of loans will furnish a copy of loan agreement to the borrower.

Links and Advertisement

Links to or from web sites and resources may be provided on Our site. These links are provided solely as a convenience to the User of this site and not as an endorsement of the contents of such third-party sites. The information on BidAssist is received from a variety of sources, which include the various public/government authorities and possibly others. All information is hence available as per these sites and therefore governed in turn by the conditions of these organizations. BidAssist has made every reasonable effort to ensure that the information is accurate and authentic however it cannot be held liable for any third-party claims or Losses of any damages. BidAssist makes no warranty, expressed or implied, as to the results obtained from the use of the information. We suggest You read the Terms and Conditions and Privacy Policies of these websites before using or visiting them. No responsibility will be accepted by BidAssist for the Service or advertisement placed or provided through Our website and/or mobile application.

Disbursement of loans including changes in terms and conditions:

Through its published website or as appropriate if specific to a customer, OfBusiness will give Notice to its Borrower(s), of any change in the terms and conditions of the sanction. OfBusiness will also ensure that changes in discount/ interest rates and charges are effected only prospectively. Decision to recall/ accelerate payment or performance under the Agreement will be in consonance with the respective loan Agreement. The monthly interest has to be paid in full by the borrower at the end of every month for which the interest is charged (unless otherwise specified in the loan agreement). OfBusiness shall hold the right to withhold supply of raw materials or shun the supply altogether without any warning in case the borrower fails to repay the loan in full or in parts by the timeline agreed upon in the loan agreement.


OfBusiness will refrain from interference in the affairs of its Borrower except for the purposes provided in the terms and conditions of the respective loan agreement (unless new information, not earlier disclosed by the Borrower, which may come to the notice of OfBusiness) In case of receipt of request from the Borrower for transfer of Borrowal account, the consent or otherwise i.e. objection of OfBusiness, if any, is generally conveyed to such Borrower within 21 days from the date of receipt of the Borrower's request. ​Such transfer will be as per transparent contractual terms in consonance with all the applicable laws. In the matter of recovery of outstanding dues of its Borrower, OfBusiness does not resort to undue harassment viz. persistently bothering the borrowers at odd hours, use of muscle power for recovery of loans/dues, etc. Training will be imparted to ensure that staff is adequately trained to deal with customers in an appropriate manner.

Regulation of Excessive Interest charged

The Company has laid down appropriate internal principles and procedures in determining interest rates and processing and other charges. The Company has adopted an interest rate model taking into account cost of funds, margin and risk premium for determining rate of interest to be charged for loans and advances. The rate of interest to be charged depends much upon the gradation of the risk of borrower viz. the financial strength, business, regulatory environment affecting the business, competition, past history of the borrower etc. The rate of interest will be annualised so that the borrower is aware of the exact rates that would be charged to the account.

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