POLICY ON SECURITY DEPOSIT (“POLICY”)

As on 19.12.2019

This security deposit policy (“Policy”) forms part of the Bounce terms and conditions available on the website/mobile application. The Policy governs and regulates payment, deduction and refund of security deposit for use Bounce Services by the User.

This Policy, as amended from time to time, shall constitute a legally valid and binding contract under the Applicable Laws and the use of any Services either through mobile Application by the User and shall be deemed to be an acceptance of all the terms and conditions set forth herein.

All terms and expressions shall have the meaning ascribed to them under terms and conditions of the Bounce Website/App at https://bounceshare.com/termsandconditions. Additional terms and expressions defined under this Policy and shall have the meaning ascribed to them thereunder.

  1. SECURITY DEPOSIT

    User is liable for payment of Refundable Security Deposit as may be prescribed by Bounce from time to time, towards availing the Services. The Refundable Security Deposit shall be paid using the payment system provided under the App for Security Deposit in order to avail Services provided by Bounce. User authorizes Bounce to deduct such Refundable Security Deposit for Penalties and Dues arises by the act or negligence by User (if any). In case Refundable Security Deposit is insufficient to cover such Penalties and Dues, the remaining Penalties and Dues will be pending and will be recovered from the User. All Penalties and Dues are subject to applicable taxes and other local government charges, which may be charged and collected by Bounce at it’s sole discretion.

    If case of any dispute on Penalty or Due, User must contact Bounce within 5 business days from the day of such event. The User shall give complete assistance in resolution of such dispute.

  2. WITHDRAWAL OF SECURITY DEPOSIT

    The User can withdraw the Refundable Security Deposit at any time, subject to the payment of Penalties and Dues.

    In an event where the User requests Bounce for withdrawal of Refundable Security Deposit, Bounce shall at it’s discretion deduct such pending Penalties and Dues from the Refundable Security Deposit and refund the remaining Refundable Security Deposit. Should the Refundable Security Deposit not cover the payment, the balance of the payment owed by the User shall be payable by the User separately as an additional outstanding.

    User will receive the Refundable Security Deposit within 2 to 5 working days of initiation of the request with Bounce.

  3. INSTANCES FOR DEDUCTION OF PENALTIES AND DUES

    Bounce will have the right to deduct the Penalties and Dues, if the User does not pay such outstanding amount for the

    below mentioned instances:

    Table A: Instance of Penalties and Dues
    If a User is involved in an incident/accident (including but not limited to a collision or misuse of the Vehicle) due to negligence attributable directly or indirectly. (“Accident”)
    If the User is does not pay the charges outstanding on the part of Services availed by the User;
    If the User operates the Vehicle outside the Designated Area specified under booking made by the User in the Bounce App;
    If the User parks the Vehicle in a no-parking zone;
    If the User violates any rules and regulations of the regional transport authority and / or traffic authorities resulting into penalties imposed on Bounce for a booking by the User, Bounce may report to the authorities any use of a Vehicle or other activities that are in violation of local, state, and/or national law or in violation of these terms and conditions ;
    In case use of the Services for causing nuisance, annoyance, inconvenience, or property damage, whether to any third party.
    If carrying out of any crime or any other illegal activity;
    If Vehicle is used in an imprudent, negligent, or abusive manner or for any abnormal use; 
    If Services taken by providing false information or representations are determined to be false (including, without limitation, regarding his name, age, or address);
    The foregoing incidents are not intended to be an exhaustive list. Any unreasonable, unwarranted, illegal, unethical or inappropriate use of a Vehicle except the personal use for travel may be deemed a violation of this Policy.
    Bounce may at it’s sole discretion immediately suspend or terminate the use of its Service by any User for a violation of this Policy. In addition, User will be absolutely responsible for any and all, losses, damages (direct/indirect), costs, charges, fees and expenses incurred by Bounce, as a result of a breach of any of the Policy and unconditionally and irrevocably agrees that Bounce reserves the right to pursue the remedial action to recover the losses/damages suffered from User’s property including but not limited to his/her legal heirs/representative’s properties.

    In this Policy, unless repugnant to the context thereof, the following terms shall have the meaning ascribed to them hereunder: