Read The * Marked Conditions [Finance For Engineers]

" Satisfaction does not come with achievement, but with effort. Full effort is victory." M.K. Gandhi.

Consumers availing any facility often tend to ignore the details mentioned in fine print. The end result is that the consumers end up loosing and feel cheated. To avoid such a situation it is necessary to read the details mentioned in fine print, be it a railway ticket or a financial product. There is an old saying one must never forget - "The Devil Is In Details". For example, Mr. B deposited his bag at the cloakroom of a railway station. The receipt included a * mark asking the consumer to read the fine print written on the back of the receipt. The condition on the back of the ticket was that the liability of the railway company shall be limited to Rs.10 for any luggage. Mr. B's bag was lost and as a result he claimed the actual value of the bag amounting to Rs.25. In such a case the railway company shall be liable only for Rs.10 and nothing more. Often failure to read the fine print or * marked conditions lead to confusion.

It is therefore necessary to read the fine print or the * marked conditions which often state the terms and conditions of the actual sale.

To read more from this series, check: "The Financial" - Finance for Engineers Series!.