By using and purchasing this software, you agree to the following terms and conditions:
1. Purpose of Software
This software is developed solely to assist users in calculating delayed payment interest in accordance with the Micro, Small and Medium Enterprises Development (MSMED) Act, 2006, including relevant statutory provisions such as Section 15 and Section 16.
2. RBI Reference Rate
The calculation of interest is based on the Bank Rate as notified by the Reserve Bank of India (RBI), which is subject to change from time to time. The software integrates a dynamic calculation mechanism that reflects updates to the RBI rate as per publicly available data. It is the user's responsibility to ensure that the latest rate is being applied during use.
3. No Legal Advice
This software does not constitute legal, financial, or professional advice. It is intended for informational and calculation support purposes only. Users—including claimants, respondents, professionals, and counsel—must exercise independent judgment and consult qualified experts before relying on the results for official or legal submissions.
4. No Refund Policy
All purchases made through the website are final and non-refundable, regardless of usage, outcome, compatibility, or perceived suitability of the product. By completing a purchase, you acknowledge and accept this policy in full.
5. Accuracy & Liability
While reasonable efforts have been made to ensure accuracy and functional integrity, neither the software provider, the firm, nor the management shall be liable for any errors, omissions, miscalculations, damages, or losses resulting from use of the software. All output should be independently verified before being used in any legal or financial context.
6. Usage Responsibility
Users accept full responsibility for:
7. Intellectual Property
All intellectual property rights in the software, including but not limited to its code, design, calculations, and structure, belong solely to the provider. Unauthorized reproduction, redistribution, or resale is strictly prohibited.
8. Modification of Terms
We reserve the right to modify these Terms & Conditions at any time without prior notice. Continued use of the software after updates constitutes acceptance of the revised terms.
9. Governing Law & Jurisdiction
This agreement shall be governed by and construed in accordance with the laws of India. Any disputes arising out of or in connection with this agreement shall be subject to the exclusive jurisdiction of the courts located in Faridabad, Haryana, India.
