Version: 1.0
Effective Date: 01/05/2026
Applies To: Fair mobile application (iOS, Android), Fair website, and all related services operated by FAIRSTAKE TECHNOLOGIES PRIVATE LIMITED
These Terms of Service (“Terms”) constitute a legally binding agreement between you (“User”, “you”) and FAIRSTAKE TECHNOLOGIES PRIVATE LIMITED, a company incorporated under the Companies Act 2013, having CIN U58201KA2025PTC202038, registered office at 2311 West of Chord Road, 2nd Stage, Basaveshwara Nagar, West of Chord Road II stage, Bangalore, Karnataka, India - 560086 (“Company”, “we”, “us”, “Fair”).
By creating an account, downloading the Fair application, accessing the Fair website, or using any Fair service, you irrevocably agree to be bound by these Terms, the Privacy Policy, the Risk Disclosure Statement, and every other policy referenced in the Legal section of the app and the website (collectively, the “Agreements”). If you do not agree to all of the Agreements, you must not use the Fair services.
You represent and warrant that:
2.1. You are at least 18 years of age, of sound mind, and legally competent to enter into a binding contract under the Indian Contract Act 1872.
2.2. You are a resident Indian citizen or a Non-Resident Indian (NRI) eligible to trade in Indian securities markets; you are not a “US Person” within the meaning of Regulation S under the US Securities Act unless we expressly permit your onboarding.
2.3. You are not a politically exposed person except to the extent disclosed during KYC, are not listed on any sanctions list (UN, OFAC, MEA India), and have not been declared a wilful defaulter, fugitive economic offender, or insolvent.
2.4. You have the financial capacity to bear complete loss of any funds you deposit or trade with via Fair.
2.5. The information you provide during account creation, KYC, and throughout your use of Fair is true, accurate, current, and complete, and you will keep it so.
3.1. Fair is a technology platform that provides (i) market data visualisation; (ii) automatically generated derivatives strategy suggestions in response to user-submitted prediction questions; (iii) an order-placement interface that communicates with a third-party stock broker of your choice; (iv) paper (simulated) trading; (v) educational and informational content; and (vi) optional AI-assisted conversational content.
3.2. Fair is not a stock broker, custodian, depository participant, bank, portfolio manager, investment adviser, mutual fund, or clearing member. Fair does not hold customer funds, securities, or margin. All funds and securities are held by your broker and the designated clearing corporation / depository under SEBI regulations.
3.3. Fair’s strategy generation is algorithmically and probabilistically derived from market data using pricing models (including but not limited to Black-Scholes), statistical clustering, and historical calibration. The output is not a personalised investment recommendation and does not take into account your personal financial situation, objectives, risk tolerance, tax position, or suitability.
3.4. Where Fair uses the terms “signals”, “strategy”, “prediction”, “probability”, “expected return”, “win rate”, “scanner”, “alpha”, “Nostradamus”, “Riddler”, “intellect”, or similar, these are descriptive product-feature names, not representations of likely financial outcome.
4. Account & Authentication
4.1. You may create a Fair account only using your own personal mobile number and KYC details. One user — one account. Account-sharing, account-sale, and credential-sharing are prohibited and automatic grounds for termination and forfeiture of balances to the extent permitted by law.
4.2. You are solely responsible for: (a) safeguarding your mobile device, passcode, biometric data, SIM, email, and any broker credentials; (b) all activity that occurs under your account, whether authorised by you or not, including trades placed, orders confirmed, AI prompts sent, and personal data disclosed; © promptly notifying [SUPPORT EMAIL] of any unauthorised access, SIM-swap, device loss, broker password compromise, or suspicion of fraud.
4.3. We may suspend or terminate your account, without prior notice, if we reasonably believe you have violated these Terms, engaged in fraud, market abuse, unauthorised automated access, or pose a legal, regulatory, or reputational risk to Fair, its affiliates, brokers, or counterparties.
5. Broker Relationship (Non-Custodial)
5.1. To place live trades, you must connect Fair to a SEBI-registered stock broker (“Broker”) supported by Fair. The list of supported brokers appears in-app and may change at any time.
5.2. Your relationship with the Broker is a separate contractual relationship between you and the Broker, governed by the Broker’s member client agreement, risk disclosure, rights & obligations document, tariff sheet, and SEBI regulations. Fair is not a party to that relationship.
5.3. Fair does not represent, act for, or have authority to bind any Broker. Fair does not accept, hold, or transmit customer funds or securities. Trades executed via the Broker’s APIs are governed solely by the Broker’s terms and by exchange / clearing corporation rules.
5.4. You authorise Fair, solely as your technology service provider, to: (a) generate order payloads on your device / in your session; (b) transmit such payloads to the Broker’s APIs on your instruction; © receive order status, positions, holdings, funds, and margin information from the Broker; (d) store this information to the extent necessary to provide the Fair services. You may revoke this authorisation at any time by disconnecting the Broker; disconnection does not reverse trades already placed.
5.5. Fair is not liable for: (a) any action, inaction, delay, failure, error, outage, policy change, rate limiting, margin call, square-off, auto-close, or forced position liquidation by the Broker, exchange, clearing corporation, or depository; (b) discrepancies between data displayed in Fair and data recorded by the Broker / exchange — the Broker / exchange record is authoritative; © loss, modification, unavailability, or delayed delivery of broker-side contract notes, ledgers, statements, GTT triggers, or tax statements; (d) suspension, cancellation, or non-renewal of the Broker’s SEBI registration.
6. Orders, Execution & Market Risk
6.1. Fair does not guarantee execution, price, fill quality, or timing of any order. Orders may be rejected, partially executed, delayed, or cancelled by the Broker, exchange, clearing corporation, or regulator for any reason, including circuit limits, margin shortfall, scrip-level restrictions, trading halts, surveillance measures (ASM / GSM / T2T), open-interest limits, product-category restrictions, or “market as a whole” pauses.
6.2. You acknowledge that (a) exchange-reported Last Traded Price (“LTP”) is historical and non-tradable; (b) bid-ask spreads, slippage, impact cost, and illiquidity may cause executed price to differ materially from the price shown on screen at the time you tapped “Trade”; © options and futures are leveraged instruments in which you can lose significantly more than your initial margin; (d) index options can expire worthless; (e) physical-settlement rules of the exchange may result in mandatory delivery obligations and associated taxes and penalties.
6.3. For orders placed through Smart Order Routing, Good-Till-Trigger (GTT), basket, or multi-leg strategy execution, you accept the inherent risks of leg mismatch, partial fills, IOC retries, stuck orders, and end-of-day session risk, including without limitation the risk that one leg of a hedged strategy executes and another does not, leaving you with an unhedged naked position.
6.4. All orders are advisory and non-binding on Fair until the Broker returns an order-id and execution status. A button press, confirmation dialog, animation, toast, or notification in Fair is not proof that an order has been received, accepted, or executed by the Broker or the exchange.
7.1. “Paper Trading”, “Virtual Trading”, “Demo”, or any simulated mode in Fair uses simulated market data and a simulated order matcher. Fills, slippage, latency, and availability in paper trading do not correspond to, and are not indicative of, live-market outcomes.
7.2. Historical paper-trading P&L is not a predictor of future live-trading P&L. Moving from paper to live will typically result in materially worse outcomes due to slippage, liquidity, emotion, taxes, transaction costs, and real-world latency.
8. Strategy Generation, Probabilities & “Win Rates”
8.1. Strategy suggestions displayed in Fair are the output of mathematical and statistical models applied to recent market data. The probability, win-rate, expected return, maximum profit, maximum loss, break-even, Greek, and payoff figures shown are model estimates, not promises, not guarantees, and not predictions.
8.2. Model outputs depend on assumptions (e.g. constant volatility, log-normal returns, no dividends, no transaction costs, continuous hedging) that do not hold in real markets. Actual outcomes will differ, often materially, from model outputs. “Maximum loss” shown assumes no broker failure, no exchange halt, no gap, no settlement event, and no physical delivery — assumptions that may fail in practice.
8.3. Fair does not warrant that any strategy will be profitable, suitable, or appropriate for you. You must evaluate each strategy independently, taking into account your own risk tolerance, tax situation, and financial advice from an independent, SEBI-registered investment adviser. Fair is not your investment adviser.
8.4. Expert-signal, “Alpha”, leaderboard, copy-trading, or social-trading features (if any) display user- or third-party-originated content for informational purposes only. Fair does not vet, endorse, or guarantee the accuracy, suitability, or profitability of any such content.
9. AI Assistant & Generated Content
9.1. Fair integrates third-party large language models to provide conversational assistance. Outputs from the AI assistant are machine-generated, probabilistic, and may be inaccurate, incomplete, outdated, or hallucinated. Nothing the AI assistant says constitutes legal, tax, investment, accounting, or medical advice.
9.2. You must independently verify any AI-generated statement before relying on it, and must not treat AI outputs as a recommendation to buy or sell any security.
10. Pricing, Subscriptions & Refunds
10.1. Fair services may be offered free, freemium, subscription-based, one-time-purchase, or via per-trade commissions / fees. Current pricing is published in-app and on the website and may change with notice under clause 23.
10.2. All payments are processed by a third-party payment gateway (such as Razorpay). Refund and cancellation terms are set out in the separate Refund & Cancellation Policy and the Pricing & Subscription Terms, both of which are incorporated by reference.
10.3. Subscription fees are non-refundable except where expressly stated in the Refund & Cancellation Policy or required by applicable law.
11. KYC, AML & Regulatory Compliance
11.1. To use live trading or payment features, you must complete KYC through Fair’s KYC partners (including but not limited to Setu, Signzy, DigiLocker, NSDL / CDSL, and your Broker). You consent to such partners collecting, processing, and sharing your data in accordance with the Privacy Policy and the KYC & AML Policy.
11.2. You will not use Fair for money laundering, terrorism financing, circumvention of sanctions, tax evasion, market manipulation, insider trading, layering, spoofing, front-running, or any other market abuse. Suspicious transactions will be reported to the Financial Intelligence Unit — India (FIU-IND) and relevant authorities as required.
11.3. You will provide updated KYC, income / net-worth proofs, and risk-profile disclosures when reasonably requested. Failure to do so entitles us to suspend or terminate services.
You will not, and will not attempt to:
(a) reverse engineer, decompile, or disassemble the Fair application or APIs except to the minimum extent permitted by law;
(b) use bots, scrapers, headless clients, automated scripts, or non-public APIs against Fair or its partners;
© probe, scan, test the vulnerability of, or breach the security of Fair or any connected system;
(d) use Fair to harass, defame, impersonate, or harm others;
(e) upload malicious code or content that infringes any third party’s rights;
(f) use Fair for any purpose that is unlawful, fraudulent, or intended to manipulate markets;
(g) exceed published rate limits, order frequencies, or API quotas;
(h) disguise your location or identity to bypass geographic restrictions.
See the Acceptable Use Policy for the full list.
13. Intellectual Property
13.1. All intellectual property in and to the Fair application, website, brand, logo, “Fair”, “Nostradamus”, “Riddler”, “Intellect”, “Reflect”, “Nexus”, strategy generation engine, risk engine, scanner, AI prompts, datasets, content, and design belongs to FAIRSTAKE TECHNOLOGIES PRIVATE LIMITED or its licensors and is protected by Indian and international copyright, trademark, patent, and trade secret laws.
13.2. You receive a limited, revocable, non-exclusive, non-transferable, non-sublicensable personal licence to use the application for its intended purpose. Any other use requires prior written permission.
13.3. Any feedback, suggestions, or ideas you submit to Fair become the unrestricted property of FAIRSTAKE TECHNOLOGIES PRIVATE LIMITED without any obligation to compensate you.
Fair relies on third-party services including, without limitation: your Broker (Zerodha Kite, Upstox, CompositeEdge XTS), market-data providers (Zerodha Kite Connect, exchanges), KYC providers (Setu, Signzy, DigiLocker), payment gateway (Razorpay), cloud infrastructure (Google Cloud Platform, Firebase), push notifications (Firebase Cloud Messaging, APNs), LLM providers (DeepInfra, OpenAI), analytics (Firebase Analytics), crash reporting (Sentry), and authentication (Firebase Auth).
Fair is not liable for any act, omission, outage, data loss, breach, rate change, policy change, or discontinuation by any third-party service provider, nor for any consequent impact on your account, trades, data, or funds. See the Third-Party Services Disclosure.
15. Disclaimers (AS IS, AS AVAILABLE)
15.1. Fair is provided strictly on an “AS IS” and “AS AVAILABLE” basis. To the maximum extent permitted by applicable law, Fair disclaims all representations, warranties, conditions, and terms of any kind, whether express, implied, statutory, or otherwise, including without limitation: merchantability; fitness for a particular purpose; title; non-infringement; accuracy; completeness; reliability; timeliness; uninterrupted operation; error-free operation; freedom from viruses or malicious code; or any warranty arising out of course of dealing or usage of trade.
15.2. Without limiting the generality of clause 15.1, Fair does not warrant that:
(a) the application, website, or any feature will be available, accessible, functional, uninterrupted, bug-free, or error-free at any particular time;
(b) market data displayed is real-time, accurate, complete, authoritative, free of delay, or free of error;
© any strategy, probability, expected-return, or Greek figure shown will be achieved or achievable;
(d) any trade will be executed, will be executed at the shown price, will be filled in full, or will be filled at all;
(e) any AI-generated content is accurate, complete, or up to date;
(f) any integration with a Broker, payment gateway, KYC provider, or exchange will function at any given time;
(g) push notifications, OTPs, confirmations, or alerts will be delivered promptly or at all.
15.3. You acknowledge that (i) markets are volatile; (ii) systems fail; (iii) networks are unreliable; (iv) latency exists; (v) data can be stale, wrong, or withheld; (vi) regulators can halt trading; (vii) brokers can go offline; (viii) exchanges can auction or delist; (ix) SEBI can change rules retrospectively; and (x) catastrophic losses, including loss of your entire capital and liabilities exceeding your capital, are a real, ever-present, and inherent feature of participating in securities and derivatives markets.
16. Limitation of Liability
16.1. To the maximum extent permitted by applicable law, in no event shall FAIRSTAKE TECHNOLOGIES PRIVATE LIMITED, its promoters, founders, directors, officers, employees, contractors, agents, licensors, or affiliates (collectively, the “Fair Parties”) be liable to you or to any third party for any:
(a) loss of profit, revenue, savings, goodwill, opportunity, data, notional gains, missed gains, hypothetical gains, or expected-value underperformance;
(b) trading losses, margin calls, square-offs, STT / GST / exchange fees, or tax liabilities;
© losses arising from inability to access or use Fair, including due to outage, maintenance, network failure, device failure, or force majeure;
(d) losses arising from actions, inactions, outages, errors, breaches, or insolvency of any Broker, exchange, clearing corporation, depository, bank, payment gateway, KYC provider, LLM provider, cloud provider, telecom operator, or other third party;
(e) indirect, incidental, special, consequential, exemplary, punitive, or aggravated damages;
(f) damages arising from reliance on strategy suggestions, probability estimates, AI outputs, educational content, news content, leaderboards, or expert signals;
(g) damages arising from SIM swap, phishing, device theft, credential compromise, biometric spoof, OTP interception, or other user-side security failures;
(h) data loss, corruption, or unavailability, whether on Fair’s systems or a third party’s;
(i) damages caused by user error, fat-finger, mistaken tap, wrong symbol, wrong side, wrong quantity, wrong expiry, or failure to read on-screen warnings.
16.2. Aggregate liability cap. Subject to applicable law, the aggregate liability of the Fair Parties to you under or in connection with these Terms, the Fair services, and all related claims — whether in contract, tort (including negligence), breach of statutory duty, restitution, or otherwise — is capped at the greater of (a) ₹1,000 (Indian Rupees one thousand) and (b) the total fees (excluding taxes and third-party pass-throughs) actually paid by you to FAIRSTAKE TECHNOLOGIES PRIVATE LIMITED in the three (3) months immediately preceding the first event giving rise to the claim.
16.3. Non-waivable liabilities excluded. Nothing in these Terms limits or excludes any liability that cannot be limited or excluded under applicable Indian law, including liability for (i) gross negligence, (ii) wilful misconduct, (iii) fraud, (iv) death or personal injury caused by negligence, (v) any mandatory consumer-protection right, (vi) any non-waivable statutory remedy. For all other liabilities, the limits in 16.1 and 16.2 apply.
16.4. Basis of bargain. You acknowledge that the pricing, fees, and free-of-charge nature of many Fair features reflect the allocation of risk in these Terms, that without such allocation the services would not be economically viable, and that the limits above are a material basis of the bargain.
You will defend, indemnify, and hold harmless the Fair Parties from and against any and all third-party claims, demands, suits, investigations, proceedings, losses, damages, fines, penalties, costs, and expenses (including reasonable legal fees) arising out of or relating to: (a) your breach of these Terms or any Agreement; (b) your breach of applicable law, regulation, or third-party right; © your trades, instructions, and conduct on Fair; (d) your content submitted to or via Fair; (e) your tax obligations; (f) any dispute between you and your Broker, a payment-gateway, a KYC partner, or a counterparty.
The Fair Parties will not be liable for any delay or failure in performance caused by an event beyond their reasonable control, including: act of God, pandemic, epidemic, quarantine, war, civil unrest, terrorism, cyber-attack, ransomware, DDoS, nation-state intrusion, exchange or broker outage, clearing-corporation or depository outage, internet or telecom outage, cloud provider outage, labour dispute, power failure, regulatory action, court order, or change in law.
19. Suspension & Termination
19.1. We may suspend or terminate your access to Fair at any time, with or without notice, for any reason, including breach of these Terms, regulatory direction, insolvency, risk management, or discontinuation of the service.
19.2. You may terminate your account at any time by following the account-deletion flow in the app. Termination does not: (a) reverse trades already placed; (b) cancel obligations to pay amounts due; © release you from indemnities; (d) affect clauses that by their nature survive termination (including sections 13, 15, 16, 17, 21, 22, 24, 25).
20. Changes to the Services
We may at any time, without liability: (a) modify, suspend, or discontinue any feature of Fair; (b) remove or restrict brokers, instruments, strategies, symbols, or payment methods; © impose or change order limits, risk caps, or rate limits; (d) apply regulatory changes retrospectively.
21. Governing Law & Dispute Resolution
21.1. These Terms are governed by, and construed in accordance with, the laws of India.
21.2. Any dispute, controversy, or claim arising out of or relating to these Terms, the Agreements, or Fair services (“Dispute”) will, to the extent not resolved through the Grievance Redressal Policy, be referred to and finally resolved by arbitration administered in Mumbai by a sole arbitrator appointed jointly by the parties under the Arbitration and Conciliation Act 1996. The seat and venue of arbitration is Mumbai. The language is English. The arbitral award is final and binding.
21.3. Subject to clause 21.2, the courts at Mumbai shall have exclusive jurisdiction. Nothing in this clause prevents either party from seeking urgent injunctive relief from any court of competent jurisdiction.
21.4. Clause 21.2 shall not apply to, or restrict, any statutory right you may have to approach a consumer forum under the Consumer Protection Act 2019, an ombudsman under an RBI / SEBI scheme, or the SEBI SCORES portal.
22. Changes to these Terms
We may amend these Terms at any time. For material changes, we will provide at least 15 days’ notice via in-app notification, email, or push notification, and will update the Effective Date. Your continued use of Fair after the effective date constitutes acceptance of the amended Terms. If you do not agree, you must stop using Fair and may terminate your account.
23.1. Entire Agreement. The Agreements constitute the entire agreement between you and us regarding Fair and supersede all prior understandings.
23.2. Severability. If any provision is held unenforceable, the remaining provisions remain in force, and the unenforceable provision is deemed modified to the minimum extent needed to make it enforceable.
23.3. No Waiver. Failure to enforce any provision is not a waiver of the right to enforce it later.
23.4. Assignment. You may not assign or transfer any rights or obligations under these Terms without our prior written consent. We may assign to an affiliate or successor-in-interest without your consent.
23.5. No Third-Party Beneficiaries. Except as expressly stated, these Terms do not confer rights on any third party.
23.6. Relationship. The parties are independent contractors. No agency, partnership, joint venture, or employment relationship is created.
23.7. Notices. Notices to you may be sent to the email or mobile number you provided. Notices to us must be sent to [email protected] and to the registered address above. 23.8. Electronic Contracting. The parties agree that these Terms may be accepted electronically, that click-wrap acceptance is a valid signature under the Information Technology Act 2000, and that a printout will be admissible in evidence.
23.9. Language. The English version is controlling. Translations are provided for convenience only.
Contact for Terms-related queries: [email protected]
Registered Office: 2311 West of Chord Road, 2nd Stage, Basaveshwara Nagar, West of Chord Road II stage, Bangalore, Karnataka, India - 560086
CIN: U58201KA2025PTC202038 | GSTIN: 27AABCU9603R1ZX