G20 TECHSPRINT 2023 USER TERMS AND CONDITIONS
- About the TechSprint
a. The G20 TechSprint Initiative 2023 (hereinafter referred to as “Event” or “TechSprint”) is a side event of the Indian G20 Presidency, organised by Reserve Bank of India (RBI) and the Bank for International Settlements Innovation Hub (BISIH) (hereinafter referred to as “Organisers”).
b. In the TechSprint, the Organisers have published selected operational problems in the field of Cross-Border Payments, and invite individuals/private teams/entities to develop technological solutions to these problems. Participating individuals or entities in the TechSprint (“hereafter referred as Participant”) are required to submit the solutions on the APIX Platform (https://hackolosseum.apixplatform.com/h1/g20techsprint2023).
c. Please note that the event is conducted and managed on a hackathon management platform provided by API Exchange Platform(“APIX”), a member of Synfindo Singapore Pte Ltd. For more information about the APIX Platform (including APIX’s privacy policy) please visit APIX - About Us (apixplatform.com).
d. By continuing the registration as a TechSprint Participant, you hereby agree that you / entity represented by you have read and agreed to be legally bound by these TechSprint Terms and Conditions, which will govern your participation in the Event.
e. While registering for the TechSprint, it is understood that the Organisers may process your personal data in accordance with the BIS Personal Data Protection Policy. Please refer to the BIS Privacy Notice available at https://www.bis.org/privacy.htm for more information.
f. Wherever applicable, these Terms and Conditions shall be read and interpreted in conjunction with the APIX Website Terms of Use (apixplatform.com), which regulate your use of the APIX Platform. In the event of a conflict between these Terms and Conditions and the APIX Website Terms of Use, these Terms and Conditions shall prevail.
g. If you do not accept these Terms and Conditions, you will not be able to submit your Solution and participate in the G20 TechSprint 2023.
h. If you have any questions about these Terms and Conditions, please contact the Organisers at techsprint@rbi.org.in and techsprint@bisih.org.
2. TechSprint Objectives
The theme of the TechSprint is technology solutions for cross border payments, and the main objective of the TechSprint is to involve developers, designers, creators, data scientists, startups, digital marketing and communication experts in highlighting the potential for innovative technologies to resolve operational problems in the areas of cross-border payments. In the context of this TechSprint, three main operational problems (hereinafter referred to as “Problem Statements”) in the field of cross-border payments have been identified. The details of the problem statements are available on the TechSprint registration page https://hackolosseum.apixplatform.com/h1/g20techsprint2023 .
3. Target Groups
a. The Competition is open to all Participants who meet the eligibility criteria ( Refer https://hackolosseum.apixplatform.com/h1/g20techsprint2023) of the framework of the TechSprint.
b. Applications are open to all teams from all countries/jurisdictions interested in cross-border payments problems and preferably having proven ability and track record of developing scalable technology solutions.
c. The expected target groups have been identified as professionals, entrepreneurs, developers and fintech entities.
4. Rules of the G20 TechSprint 2023
The G20 TechSprint 2023 is governed by the following organisational rules:
a. The language of the TechSprint shall be English. All materials and communications submitted in connection with the TechSprint must be in English.
b. Details, deadlines and other rules of the TechSprint will be published on the website https://fintech.rbi.org.in/FT_g20techsprint_2023
c. The Organisers reserve the sole discretion to decide that an application to a certain Problem Statement be reclassified or reassigned to another Problem Statement.
d. The final winning Solutions from the shortlisted solutions will be selected by an expert panel organised by the Organisers (“Panel”). The decisions of the Panel would be final and binding. No appeal shall be entertained in respect of the final decision by the Panel.
e. Shortlisted TechSprint Participants will be invited to develop production-ready and deployable prototypes that address the Problem Statements. However, the TechSprint Participant agrees and acknowledges that there it has no commitment or expectation that the prototype will actually be deployed, in any way. The shortlisted participants may also be invited to a “Midpoint Event” in around July 2023. Further information about the Midpoint Event will be published on the TechSprint website.
f. Shortlisted TechSprint Participants will be awarded cash stipends by RBI to offset any development and event related expenses that may be required in connection with their submission of final Solutions. Shortlisted TechSprint Participants will also have access to the APIX Platform for the duration of the G20 TechSprint 2023, subject to the APIX Platform Website Terms of Use.
g. At all times, Participants shall take all reasonable precautions to protect the integrity and shall refrain from any use or divulgence of all kind of information, data, and/or solutions related to the Event including, but not limited to: all files, technology solutions, records, documents, specifications, equipment, and similar items, whether the originals or copies were prepared by the Participant, other Participants or otherwise came into Participants’ possession.
5. Your submission(s)
a. The Participants must ensure to complete the registration and proposal (hereinafter referred to as the "Project") submission process, in all aspects, by the stated deadline within the framework of the TechSprint. The final submission must be registered and made available to the Panel via the APIX Platform before the deadline published on the TechSprint website. If, for any particular reason, teams need to develop their Projects on some other development environment, they can do so, as long as the developed Project or part of the developed project could be uploaded and run on APIX platform. The complete project should be accessible for evaluation via a link that must be provided in the submission form.
b. You represent and warrant that you have all the necessary authorizations, permissions, licenses and agreements to participate in the G20 TechSprint 2023 and to all material used, and that your participation in the G20 TechSprint 2023 and your submission of Solution(s) are in compliance with all applicable laws, rules and regulations.
c. You will retain the title, rights of ownership, or intellectual property rights of whatever nature in the Solutions and any related information that you submit or develop.
d. The Participants, by accepting these Terms and Conditions, shall provide an undertaking and declaration that their submissions, Projects, solutions etc., are not infringing any rights, including intellectual property rights, of any third party.
e. Notwithstanding the foregoing, in the event that a solution submitted by you is selected by the Panel as a winning solution, you agree to present the solution during closing / winners announcement event to be held in September 2023 and at any other such events as mutually agreed by the RBI, BISIH and relevant central banks. Except as set forth in these Terms and Conditions, the TechSprint participants shall participate in the G20 TechSprint 2023 at their own cost. You understand and agree that neither RBI nor BISIH will reimburse any costs associated with your participation in the G20 TechSprint 2023.
6. Participant Prizes
a. Each shortlisted TechSprint Participant will receive a cash stipend of INR 8,00,000 (approximately USD 10,000) before tax and any additional charges. This cash stipend will be provided only via wire transfer to the banking coordinates agreed by all of the members of the team and indicated by the team leader to RBI.
b. Each winning team from the final stage will receive a total prize of INR 40,00,000 (approximately USD 50,000) before tax and any additional charges. This prize will be provided only via wire transfer to the banking coordinates agreed by all of the members of the winning team and indicated by the team leader to RBI.
c. The shortlisted TechSprint participants and winning teams shall not dispute the size or nature of the prize awarded, or demand different means of payment from the one specified, or seek exchange/replacement for any reason. The stipends and prizes will be awarded within 60 days from the date on which the decision is taken, provided all the relevant details necessary for payment are provided by the Participant. The cash stipend will be awarded by RBI and for any details, the Participant shall reach out to RBI. The Participants shall not be eligible for anything else in addition to the stipend and prizes.
d. The TechSprint Participants are warned that the cash stipends and prizes provided for stated in this article will be paid only to the banking coordinates indicated by the team leader to RBI. After the payment, no other obligations will remain towards the teams and their members. The RBI, BISIH or APIX platform cannot in any way be held liable with regard to the ownership or distribution of the prize among the Team members. Acknowledgement of the receipt of stipend shall be mandatorily communicated to RBI within three days from the date of receipt of the stipend by email (as provided above).
e. The shortlisted teams and the winning teams will be announced on the website https://fintech.rbi.org.in/FT_g20techsprint_2023 .
7. The APIX Platform
The APIX Platform is provided exclusively by Synfindo Singapore Pte Ltd . Your use of the APIX Platform is regulated by the APIX Website Terms of Use. BISIH or the Indian G20 Presidency or RBI shall not be liable to you for any damages, losses, expenses, liabilities under any causes of action (whether in contract or tort including, but not limited to negligence, or otherwise) caused through the use of, or the inability to use, including but not limited to anomalies, malfunctions, defects, interruptions, and/or cyber-attacks of, the APIX Platform.
8. Indemnity
You agree to indemnify and hold BIS , RBI and the Indian G20 Presidency harmless from all claims, demands, actions, proceedings, liabilities (including statutory liability and liability to third parties), penalties, and costs (including without limitation, legal costs on a full indemnity basis), awards, losses and/or expenses, due to or arising out of: (i) any use of the APIX Platform; (ii) your connection to the APIX Platform; (iii) your participation in the G20 TechSprint 2023; (iv) your submission of the Solution(s); (v) your breach of any terms and conditions of these Terms and Conditions; (vi) your violation of any rights of another person or entity, including intellectual property rights; or (vii) your breach of any statutory requirement, duty or law.
9. Amendment, suspension and termination
The Organisers may at any time vary or amend these Terms and Conditions by posting the amended Terms and Conditions on the G20 TechSprint 2023 website. If you continue as a participant in the G20 TechSprint 2023 after such amended Terms and Conditions have been posted, you will be deemed to have accepted the amended Terms and Conditions. If you do not agree to the amended Terms and Conditions, you have the right to withdraw from the G20 TechSprint. The Organisers may discontinue the G20 TechSprint at any time and for whatsoever reason. You agree that the Organisers have the right at their sole and absolute discretion and without notice or liability to restrict, suspend, or terminate your participation in the G20 TechSprint, without assigning any reason. You are also responsible for ensuring that all persons who act on your behalf in the G20 TechSprint are aware of and comply with these Terms and Conditions.
10. Use of the names of BIS, RBI or the Indian G20 Presidency
You shall not use the name “Bank for International Settlements”, “BIS”, “Bank for International Settlements Innovation Hub”, “BISIH” or an equivalent name or the logo of BIS for any purposes in any advertising, publicity releases, presentations, or publicly distributed documents, in whatsoever manner, without the prior written consent of BIS.
You may not use the name “Indian G20 Presidency”, “G20 Indian Presidency”, “Reserve Bank of India, “RBI” or an equivalent name or the logo of the Indian G20 Presidency and Reserve Bank of India for any purposes in any advertising, publicity releases, presentations, or publicly distributed documents, without the prior written consent of the Indian G20 Presidency and RBI. Notwithstanding the foregoing, the TechSprint Participants that submit the final winning Solutions may publish the fact of their participation in the G20 TechSprint 2023, provided that it is clarified that the solutions are not endorsed or recommended by the BIS or the Indian G20 Presidency or RBI.
11. Bar from Participation:
Employees of the Organisers or any of its subsidiaries, or affiliates, or an immediate family member of any such employee are not eligible to participate in the TechSprint.
12. Governing law and dispute resolution
The relationships between the Participants and RBI are governed by the laws of India, and the relationships between the Participants and the BIS are governed by Swiss Law, the relationships between the Participants and the APIX Platform are governed by Singapore law. Terms & Conditions will be interpreted and applied as per the above laws, depending upon the relationship.
Any dispute or differences shall be settled by Participants and RBI on an amicable basis for a consensus. If such consensus cannot be reached, any dispute or differences arising out of or in connection with these terms and conditions regarding the relationships between the Participants and RBI shall be referred to and finally settled by arbitration in accordance with Arbitration and Conciliation Act, 1996. The arbitration shall be referred to a sole arbitrator, to be mutually appointed by the parties to the arbitration. If there is disagreement in this regard between the parties, each of the parties shall appoint one arbitrator and the two arbitrators so appointed shall appoint a presiding third arbitrator. The seat and venue of arbitration shall be Mumbai, India. The language to be used in the arbitration proceedings shall be English.
Neither the submission of a dispute to arbitration nor any other provision of these Terms and Conditions shall constitute a waiver, express or implied, of the BIS privileges, immunities and exemptions in any relevant jurisdiction, which are specifically reserved.
13. Disclaimer
BIS or the Indian G20 Presidency or RBI does not warrant or guarantee the accuracy, completeness or fitness for purpose of any information or material on this website. Under no circumstances shall the Organisers or Indian G20 Presidency be liable for any loss, damage, liability or expense suffered in connection with reliance by any person on any such information or material.
__________________________________________________________________________________
