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The risk factor of choosing a new host varies with a lot of different factors, but all hosts were new at some point! If you're not hosting something important and are willing to take a risk, go ahead and try a new host. Any reputable host will have a TOS, so if you aren't able to find it, it may be part of the ordering process. Otherwise you might want to contact them and ask for a pointer to it.
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I was also trying to consider bytefast.net but they're fairly new and i cant seem to find their TOS link. Would you recommend to try out fairly new hosts or is that too risky?
If you're unsure of the risk then you can always opt to sign up with the monthly billing cycle so you don't over commit in case you decide that the services are not right for you. Most providers should offer a refund policy as well so be sure to check for that in their TOS.
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Thanks ravi but when I first checked their website there's no link in the tos. I did click on order link from the offers section but it's an invalid link (that time). Will check if they have already fixed it