Loan Agreement No. 1.0 (including all attachments, addendums and any amendments thereto, all of which will be referred to as "Agreements") were made on and implemented by and between:
(1) Mr / Mr with the registration number; ("Borrower") with (2) Lenders with registration numbers; ("Lenders") and Lenders and Borrowers are collectively referred to as "The Parties" and respectively as "Parties".
1. Definition: For the purposes of this Agreement and in addition to any other definitions set forth in this Agreement, the following terms have the meanings as specified for those terms, unless the context clearly specifies otherwise:
2. "Borrowing Bank Account" means the specified bank account designated by the Borrower for the purpose of receiving the loan disbursement.
3. "Borrower Data" means personal data and information submitted by the Borrower on the Platform to be verified by the Company on behalf of the Lender.
4. "Borrower Platform ID" means the Borrower's username and / or registration number on the Platform that is attached to, represents and relates to the Borrower Data that has been submitted and registered on the Platform. "Company" means our company.
5. "Company Services" means services provided by the Company to Borrowers in accordance with CSA.
6. "CSA" means the service agreement to be entered into between the Company and the Borrower in connection with the provision of Company Services.
7. "Full Debt Amount" means the aggregate amount of the principal amount of the Loan, administrative costs (maintenance costs, risk fees, management fees and transfer fees) thereof and other accumulated costs. Before the loan is issued several parts of the loan will first be deducted with some of these costs
8. "Bank Account" means the Company's bank account designated for the purpose of disbursing the Loans to the Borrower and receiving payment of the principal amount of the Loan, and / or other fees or amounts owed from the Borrower to the Lender or to the Company.
9. "Lender Data" means personal lender identification information provided by the Lender to the Company and / or Platform.
10. "Lender Platform ID" means the lender's username and / or registration number on the Platform attached to, representing and related to the Lender Data that has been submitted and registered on the Platform.
11. "Loans" means financing services in the form of loans provided by the Lender to the Borrower, which will only be used for personal purposes, such as education, health etc.
12. "Loan Request" means an application submitted electronically by the Borrower through the Platform to obtain a Loan, including supporting documents and information required by the Platform.
13. "Loan Disbursement Date" means the date when the Lender or third party on behalf of the Lender, including the Company, carries out the wire transfer of the Loan to the Borrower's Bank Account.
14. "Loan Financing Details" means the terms and conditions of the Loan material as set out in the attached Loan Financing Details.
15. "Platform" means an internet-based peer-to-peer lending platform owned and operated by the Company, including application.
16. "Letter of interest" "Terms and Conditions" means the terms and conditions set out in Section 3. 2.
17. Interpretation: In this Agreement unless the context otherwise requires:
a. Each recital and attachment will form part of this Agreement and references to this Agreement will include recitals and attachments; b. References to this Agreement or other documents are to this Agreement or other documents which are in effect for the time being and as amended from time to time in accordance with this Agreement or the document (as the case may be); c. Words that use gender include every gender, references to the singular include the plural and vice versa and words that indicate people including individuals and legal entities, partnerships, associations without legal entities and other bodies (in each case, wherever located and for any purpose) and vice versa; d. The titles and contents of the tables in this Agreement are for convenience only and do not affect interpretation; e. If there is a conflict or discrepancy between the clauses, and any attachments in this Agreement, the clause will apply. For this purpose, negligence (whether intentional or unintentional) does not, by itself, be regarded as causing conflict or non-compliance; and f. In this Agreement the words "other", "including" and "in particular" do not limit the generality of the previous word and the words that follow will not be interpreted as limited to the scope for the same class as the previous words where a wider arrangement is possible .
1. The Borrower has applied for a Loan by submitting a Loan Request to the Company through the Platform.
2. The Borrower agrees that:
1. The Lender will have the right to charge fees for the Loan as detailed in the Loan Financing Details and the Company will have the right to charge the Borrower for Company Services in accordance with CSA and that the Borrower must pay all such amounts at maturity under this Agreement and based on CSA, as applicable, and
2. Borrowers are required to pay debts in accordance with the Loan Financing Details and must pay the Full Amount of Debt at maturity under this Agreement and without delay to the Bank Account as stated in the Loan Financing Details.
3. The Borrower agrees and understands that:
1. The Lender has appointed the Company as a party to:
I. manage and process Loan Requests from Borrowers, including but not limited to verifying and / or validating Borrower data contained in Loan Requests or submitted to Lenders through the Company or Platform;
II. supervise the collection of the full amount of debt at maturity and costs associated with it including but not limited to the issuance of warning letters and text messages to, and telephone calls to the Borrower; and
III. disburse Loans to the Borrowing Bank Account and receive all payments from the Loan and in connection with Company Services in the Bank Account; on behalf of the Lender.
3. The loan application will be processed in accordance with the criteria specified by the Lender in Section 4 and verification thereof by the Company, and is the basis on which the Company will disburse the Loan to the Borrower, on behalf of the Lender.
4. Approval of Loan Requests will be based entirely on the absolute evaluation of the Lender and is dependent on the Borrower's implementation of the required legal documents and other formalities as required by the Lender.
5. The Borrower hereby grants full power and authority to the Lender and the Company through the Platform, each employee, agent and company or third party authorized by the Company, to copy, share and use the Borrower's Data for any actions taken related to the Request Loans and Loans as one of the competent persons deems necessary.
6. The Borrower understands that the Company is not a party to this Agreement even though the Company has the authority to act on behalf of the Lender under this Agreement. The terms and obligations contained in this Agreement and / or arising from this Agreement will not in any way bind the Company or Platform and any legal issues that arise will be a problem between the Borrower and the Lender. Each Lender and Borrower hereby exempts the Company from any obligations relating to or arising from the Loan Application process and will jointly compensate the Company for any claims, losses, costs, expenses, damage or liabilities incurred or experienced by the Company relating to the implementation of activities delegated to the Company under this Agreement or the implementation of the obligations of each Borrower and Lender based on this Agreement. This exemption and indemnification obligation will survive even if the termination or termination of this Agreement is valid and binding on the Lender and Borrower even if the loan application is rejected and the loan is not given to the borrower.
7. The Borrower declares and guarantees and agrees with the Lender that:
I. The Borrower has fulfilled the minimum criteria as specified in Section 4.1;
II. Borrower Data and all other information provided to the Company and / or Platform is complete and correct data and information from the Borrower and is not misleading in any case;
III. The Borrower will be legally responsible for any falsification, and unauthorized use of, Borrower Data provided by or on behalf of the Borrower to the Company or Platform; IV. The Borrower signs this Agreement in good faith and without the intention to violate applicable rules and regulations including but not limited to money laundering, tax avoidance and anti-terrorism regulations;
IV. The Borrower signs this Agreement for and on his own behalf, free and of his own free will without coercion or intimidation from any party and knows and understands the contents and consequences thereof; VI. the Borrower's electronic signature in the Agreement is valid and this Agreement is a legal, legal and binding obligation towards the Borrower, and can be implemented against it in accordance with applicable law;
V. The Borrower is not required to withhold taxes or other amounts from each loan payment, whether for principal, fees or other amounts; and
VI. Proceeds from the Loan will be used solely for personal use, not for commercial or business purposes.
7. The Lender declares and guarantees to the Borrower that:
I. The Lender's electronic signature in this Agreement is valid and this Agreement is a legal, legal and binding obligation towards the Lender, which can be implemented against him in accordance with applicable law;
II. Lenders sign this Agreement in good faith and without the intention to violate applicable rules and regulations including but not limited to money laundering, tax avoidance and anti-terrorism regulations;
III. The Lender signs this Agreement for and on his own behalf, free and of his own free will without coercion or intimidation from any party and knows and understands the contents and consequences thereof;
8. The Borrower agrees and understands that Borrower Data submitted to the Company and / or Platform will be disclosed to the Lender and used by the Company and the Lender to process the Loan Request and by the Company to manage the Loan and in connection with the provision of services by the Company to the Lender and Borrowers are in accordance with CSA.
9. The Lender agrees and understands that the Borrower Data submitted to the Company and / or Platform will be used by the Company to process the Loan Request and manage the Loan and in connection with providing Company services to the Lender.
10. The Parties acknowledge and agree that the implementation of this Agreement together with the Loan Financing Details and other attachments thereof may be carried out using digital or electronic signatures which will be deemed as valid signatures of each Party. Each Party must provide a physical signature for this Agreement if requested by the Company.
11. Each Party has read and understood the contents, and therefore fully understands the rights and obligations arising from this Agreement and CSA.
12. The Borrower agrees and acknowledges that after receiving the Loan, the Borrower will owe the Lender for the amount of funds disbursed to the Borrower's Bank Account in accordance with this Agreement and the terms and conditions stated in the Loan Financing Details of this Agreement plus other costs to be paid by Borrowers to Lenders based on this Agreement.
13. The Lender hereby authorizes the Company to disburse the Loan to the Borrower's Bank Account after fulfilling the following conditions:
I. Implementation of this Agreement by the Borrower and implementation of CSA by the Borrower and the Company;
II. The Company has verified the information provided by the Borrower as stated in the Loan Request, including Borrower Data; and
III. The Borrower has fulfilled the minimum criteria determined by the Lender, based on its sole and absolute policy.
14. The Borrower fully understands that his Lending Application may be refused by the Lender without the obligation of the Lender, the Company and / or the Platform to disclose the reason for the refusal. The Borrower is not entitled to request a review, re-evaluation, or request in any other form to reassess rejected loan applications.
15. The Parties will not communicate, interact or connect, directly or indirectly, with one another, other than in the manner provided on the Platform.
16. By completing the Loan Request, the Borrower will be deemed to have signed this Agreement electronically and this Agreement is valid and binding on the Borrower when the Loan Request is approved by the Lender.
17. Lenders hereby authorize the Company to exercise Lenders 'rights under this Agreement and the Borrower acknowledges that the Company has been permitted to exercise Lenders' rights under this Agreement without the need for additional or separate authorization by the Lender
1. Borrowers are required to register themselves on the Platform by meeting the following requirements and procedures:
I. Provision of Borrower Data by filling out electronic forms provided on the Platform; and II. Complete the loan application by filling out electronic forms provided on the platform.
2. After completing the registration process as referred to in Article 3.1 and set forth herein, the Borrower will be deemed to have agreed to the terms of use of the Platform, from which the Platform will then issue the Borrower's Platform ID.
3. The Lender hereby authorizes the Company and / or Platform to remind the Borrower of the date of loan repayment and in the event of default.
4. The Borrower agrees to provide hard copies of documents submitted in electronic form in accordance with Section 3.1 or required by the Company to validate Borrower Data.
1. The Borrower agrees and understands that the Loan will only be given to loan applicants who meet the following minimum criteria and the Borrower hereby declares and guarantees to the Lender that the Borrower meets or will meet these minimum criteria:
I. The age of the loan applicant is 18-55 years when applying for a loan;
II. The loan applicant's monthly income must be equal to or more than Rs. 15，000
III. The residential address of the loan applicant must be within the Nigeria
IV. The Loan Applicant receives a one-time confirmation code within 60 seconds of being sent by the Platform;
V. The principal amount of the loan given to the applicant is Rs @ borrow_amount @ (the deadline for the loan is @ borrow_days @ day)
VI. The Loan Applicant answers telephone calls made by the Company and verifies his identity in accordance with Company regulations; VII. the loan applicant's reference will verify the information provided by the loan applicant.
2. The Borrower agrees and understands that the Company has carried out and / or will verify data on behalf of the Lender, which will include but is not limited to:
I. Verification by telephone call to the Borrower and references given by the Borrower and Borrower's Employees if deemed necessary by the Company; II. Verify Phones that use a one-time password; and III. Data processing from social network profiles provided by the Borrower during the loan application process.
3. The Borrower agrees that the Company has contacted or may contact the Borrower or third party on behalf of the Lender through various means, including but not limited to:
I. telephone text messages; II. e-mail; III. voice call; and IV. automatic voice dialing
4. The Borrower will be responsible for the accuracy of information provided by third parties to the Company in the verification process.
1. The Borrower hereby grants full power and authority to the Lender and its authorized representatives and / or third parties appointed by the Lender including the Company and Platform for, at any time, without further notice to the Borrower, to carry out all or any of the actions and functions the following in accordance with all applicable laws and regulations:
i. collection, storage, use, maintenance, analysis and dissemination of Borrower Data; ii. conduct data checks, reference checks, ask questions and verify based on data and information provided to, or obtained by, the Company or Platform if and when it is deemed necessary by the Company in connection with Borrower Data; and iii. share, obtain and / or disclose Borrower Data to government authorities or other authorized third parties appointed or authorized by the Lender for the purposes of proper verification and assessment of Borrower information and data.
2. The Borrower agrees and understands that the Lender may provide Borrower Data to consultants and service providers, including but not limited to, legal advisors, financial and tax advisors, as well as government authorities, supervisory and court institutions, for the following purposes:
I. carry out this Agreement; II. enforce the implementation of this Agreement; III. carry out the objectives of the Lender's business activities; IV. carry out the obligations required by law applicable to the Loan; and V. responding to requests made by government authorities, regulatory bodies or courts.
3. The Borrower agrees, understands and hereby grants the full power and authority to the Lender to instruct the Company and / or Platform to make and store a copy of the Borrower's Data. The Borrower also agrees that the Company and / or Platform can use Borrower Data for the purpose of protecting the rights and interests of the Lender. The Borrower acknowledges that the Company and the Lender can maintain Borrower Data if the Loan Request is not approved or after the termination or termination of this Agreement. 4. The Borrower agrees, and hereby grants full power and authority to the Lender, employees, agents and affiliated companies, to share and use Borrower Data for various financing schemes, offer or promotion schemes, financing schemes or other promotions, which can be offered and provided by or on behalf of the Lender.
1. Loan terms and conditions as agreed by the Parties that will take effect after the Lender's approval of the Loan Request is specified in the Loan Financing Details which includes the following terms and conditions:
I. The loan amount will be stated in Rupiah;
II. Loan tenure will be stated in calendar days;
III. Against the Date of Loan Disbursement: the following will apply:
i. Wire transfer Loans must be made by transferring bank money to the Borrower's Bank Account; and ii. The Borrower will be deemed to have confirmed his approval of the terms of the Loan as set forth in this Agreement and the Loan Financing Details, if the Borrower has not paid the principal amount of the Loan one day after the Loan Disbursement Date.
IV. The Loan Repayment Date which is the Repayment Date Amount must be received in the Bank Account, which the following conditions will apply:
i. Early repayment is allowed;
ii. Late payments will be subject to a late fee of 1.5 percent per day from the day of the initial delay of the loan amount.
iii. Partial payment of late payment fees is not permitted; and
iv. Repayment will be considered complete if the funds paid have been entered in the
Bank Account listed in the Loan Financing Details of this Agreement.
V. Types of loans are unsecured personal loans; VI. The Borrowing Fee that must be paid to the Borrower (Borrower Fee) is equal to.
1. The Borrower hereby agrees that the Borrower truly and legally owes the Lender the Full Amount of Debt after receiving it and agrees to pay the Full Amount at maturity in accordance with the provisions of this Agreement and the Loan Financing Details without counter-charges, set off , or reduction in any form.
2. Notwithstanding anything to the contrary contained in this Agreement, all payments made or collected by the Lender based on this Agreement must be applied by the Lender for his own benefit in the following priority order, (1) for any amount that is then due and is payable to the Lender based on the Agreement that is not listed in this Section, (2) for any costs that are later due and payable, (3) for any outstanding defaults or late fees which are later due and payable, (4 ) for costs which are then due and payable, and (5) for principal that is later due and payable.
3. The Lender, through the Company, will open and maintain books and records showing the loan, repayment, pre-payment, calculation and payment of fees and other amounts that must be paid and the amount paid according to this Agreement. Such books and records must be final and binding on the Borrower in relation to the amount that is owed at any time from the Borrower, with no real errors in calculation.
4. The Borrower must fully replace the Lender immediately upon request for all costs and expenses, including, but not limited to, legal counsel fees and out-of-pocket costs, which are incurred or will be incurred by the Lender in connection with the implementation every right and power granted by the Lender based on this Agreement.
1. The Borrower will be considered for breach of contract if any of the following events occur:
I. The Borrower fails to pay the amount due at this time (the due date which must take into account the borrower's renewal rights under this Agreement) or fails to fulfill one or more of the other obligations as stipulated in this Agreement; or II. The Borrower has been declared bankrupt based on a court decision authorized; or III. The Borrower is proven guilty by a final and binding court decision from any jurisdiction or related to criminal activities including but not limited to money laundering and / or terrorism activities; or IV. The Borrower has submitted data that is falsified, incorrect and or misrepresented as Borrower Data. The Lender has the full right to determine whether the submission has been made.
2. After the breach of contract, the Lender then has the right to expedite and demand payment of all amounts owed under this Agreement, immediately and in full, including, but not limited to, the principal balance along with late payment fees and any other costs. In addition, the Lender will have the right to terminate this Agreement and exercise any and all other rights and legal remedies for breach of contract. 3. Termination of this Agreement shall not affect the rights of any of the Parties arising before and including the termination date under this Agreement.
9. Others
1. This agreement can only be changed by the Lender and the Borrower who signed the written amendment, which signature can be in electronic form.
2. The Borrower must notify the Lender in writing of any changes to the Borrower's Data, including, but not limited to, any changes to the Borrower's residential address.
3. The Borrower agrees that, without prior notification, the Lender has the right to transfer or transfer all or part of his rights and obligations under this Agreement to a third party. The Borrower is not entitled to transfer or transfer some of his rights or obligations under this Agreement to any party.
IN WITNESS WHEREOF, the Parties have carried out this Agreement through electronic or physical signatures as evidenced by the Giving Platform IDs to each Party. This agreement can be executed with separate copies that are signed electronically or physically, each of which when implemented and delivered will be considered original, and all together will be one and the same instrument.
1. Definitions: For the purposes of this Agreement and in addition to any other definitions set forth in this Agreement, the following terms have the meanings as specified for those terms, unless the context clearly stipulates otherwise: "Additional Service Fees" are the service fees payable by the Borrower to the Company for the provision of Services during the extension of the Loan, which is calculated in accordance with Article 7.1.2. "Approved Borrower Criteria" means criteria set by the Lender that must be met by the Borrower in order to be considered as a potential Borrower. "Approved Loan Terms" means the Loan material terms agreed upon by the Lender. "Bank Account" means a bank account that must be opened by the Company to hold funds owned by the Lender and other lenders who use the Company's Platform and services for the purpose of disbursing the Loans to the Borrower and managing the repayment of loans by the Borrower. "Borrower Data" means personally identifiable information and other data from Borrowers obtained and verified by the Company on behalf of the Lender. "Borrower Platform ID" means the Borrower's username and / or registration number on the Platform that is attached to, represents and relates to the Borrower Data that has been submitted and registered on the Platform. "Borrower" means the Borrower and any other borrowers who obtain funding by submitting an Application through the Platform. "Lender" means an individual who provides all or part of the Loan to the Borrower under the Loan Agreement to be signed by the Borrower and Lender through the Platform service. "Lenders" means Lenders who will lend to one or more Borrowers and other individuals who provide financing to Borrowers through the Platform. "Loan" means a loan given by the Lender to the Borrower in accordance with the terms of the Loan Agreement. "Loan Request" means the loan agreement signed between the Lender and the Borrower, both electronically or physically, which explains the terms and conditions of the Loan, including all attachments, addendums and any amendments thereto. "Loan Agreements" means Loan Agreements and all other similar agreements between one Borrower and one of the Lenders. "Loan Applicant" means an individual Indonesian citizen who has applied for a Loan through the Platform. "Loan Request" means an application submitted electronically by the Loan Applicant through the Platform for obtaining a Loan, including supporting documents and information required by the Platform. "Platform" means an internet-based peer-to-peer lending platform that is owned and operated by the Company / "Services" means services provided by the Company to Borrowers through the Platform, as specified in this Agreement. "Service Fees" are service fees payable by the Borrower to the Company for the provision of Services during the initial tenure of each Loan Agreement, which is calculated in accordance with Article 7.1.1.
2. Interpretation: In this Agreement unless the context otherwise requires: a. Each recital and attachment will form part of this Agreement and references to this Agreement will include recitals and attachments; b. References to this Agreement or other documents are to this Agreement or other documents which are in effect for the time being and as amended from time to time in accordance with this Agreement or the document (as the case may be); c. Words that use gender include every gender, references to the singular include the plural and vice versa and words that indicate people including individuals and legal entities, partnerships, associations without legal entities and other bodies (in each case, wherever located and for any purpose) and vice versa; d. The titles and contents of the tables in this Agreement are for convenience only and do not affect interpretation; e. If there is a conflict or discrepancy between the clauses, and any attachments in this Agreement, the clause will apply. For this purpose, negligence (whether intentional or unintentional) does not, by itself, be regarded as causing conflict or non-compliance; and f. In this Agreement the words "other", "including" and "in particular" do not limit the generality of the previous word and the words that follow will not be interpreted as limited to the scope for the same class as the previous words where a wider arrangement is possible .
1. The Company has created a Platform to facilitate lending by Lenders to Borrowers and has established a system of ownership where prospective Lenders can be introduced to Loan Applicants and Loan Applicants can be introduced to Loan candidates.
2. The Borrower can apply for one or more Loan Requests through the Platform to apply for one or more Loans from one or more Lenders.
3. The Borrower hereby retains the Company to provide Services to the Borrower in accordance with the terms and conditions of this Agreement and the Company hereby agrees to provide Services to the Borrower.
4. Based on consideration of providing Company Services, the Borrower agrees to pay the Company Service Fees, Additional Service Fees and Extension Administrative Fees as further described in Section 7 below. The Borrower expressly acknowledges that: I. The Lender will have the right to charge fees for the Loan as detailed in the Loan Financing Details and the Company will have the right to charge the Borrower for Company Services in accordance with CSA and that the Borrower must pay all such amounts when they fall tempo based on this Agreement and based on CSA, as applicable, and II. The Borrower is required to pay debts in accordance with the Loan Financing Details and must pay the Full Amount of Debt at maturity under this Agreement and without delay to the Bank Account as stated in the Loan Financing Details. III. The Company is not responsible for any decisions made by the Lender (i) in connection with any Loan or Loan Request or (ii) based on a Loan Agreement or otherwise.
5. The company will not be a party to any Loan Agreement. The terms and obligations contained therein and / or arising therefrom will not be binding on the Company or Platform. Notwithstanding this, the Borrower acknowledges and agrees that the Company acts on behalf of the Lender (but not as an agent of the Lender) in the manner specified in the Loan Agreement. Specifically, the Borrower acknowledges that the Company can exercise Lenders' rights under the Loan Agreement.
6. The Borrower hereby confirms that the Company has not provided the Borrower with advice regarding the eligibility of loan funds from the Lender or its ability to repay the Loans and that he has made his own decisions regarding the receipt of the Loans on the terms and conditions offered by the Lender. The Borrower hereby, now and forever exempts the Company from all responsibilities in the event that the Borrower experiences adverse consequences arising from the Loans received by the Borrower under this Loan Agreement or this Agreement.
7. The Parties agree that the Company will act independently with regard to providing Services. Nothing in this Agreement is intended to create a relationship between the lender and the power of attorney between the Borrower and the Company or impose fiduciary obligations or other obligations towards the Company.
8. The Borrower declares and guarantees to the Company that: I. All information provided to the Company and / or Platform by the Borrower is complete and correct data and Borrower information is not misleading in any case; II. The Borrower will be legally responsible for any counterfeiting, and unauthorized use of, data provided to the Company or Platform; misleading in any case; III. The Borrower signs this Agreement in good faith and without the intention to violate applicable rules and regulations including but not limited to money laundering regulations, tax avoidance regulations and anti-terrorism regulations; IV. The Borrower signs this Agreement for and on its own behalf, free and of its own free will without coercion or intimidation from any party and knows and understands the contents and consequences thereof including the amount of Service Fees, Additional Service Fees and Extension Administration fees to be paid in accordance with Section 7.
9. The Borrower hereby grants the full power and authority to the Company, its affiliates and their respective employees and agents to copy, share and use Borrower Data obtained by the Company on behalf of the Lender for any actions taken relating to the provision of services or carrying out its obligations on behalf of Lenders based on the Loan Agreement. In this regard, the Borrower hereby confirms that the provisions of Section 2.4 of the Loan Agreement, relating to the Borrower, become part of this Agreement through mention.
10. The Borrower hereby expressly acknowledges and agrees that the Company is not responsible for the accuracy and validity of the information or data provided to it by the Borrower or Lender or is responsible for the performance of the Borrower or Lender for its obligations under the Loan Agreement.
11. The Borrower understands that a new Loan Request will need to be submitted for each Loan requested by the Borrower and that Borrower Data and other information required by the Lender or Company must be submitted and verified for each Loan Request.
Section 3. Particular Obligations of the Parties
1. Borrowers are required to register themselves on the Platform by meeting the following requirements and procedures: I. Providing Borrower data by filling out electronic forms provided on the Platform; and II. Provision of data or information required by the Government Authority.
2. After completing the registration process referred to in Section 3.1 above, the Borrower will be deemed to have agreed with I. if the Borrower has not signed this Agreement prior to registration, the terms and conditions of this Agreement and II. terms of use of the Platform, from which the Platform will then issue the Borrower Platform ID. The Borrower must afterward provide a physical signature for this Agreement if requested by the Company. This agreement will enter into force and bind the Parties when signed, electronically (through, in the case of the Borrower, the registration process described above) or physically, by both Parties. The Company will be deemed to have signed this Agreement electronically if it has created and established a registration number for the Borrower through the Platform.
3. The Borrower must: I. Provide Borrower Data in each Loan Request he submits to the Platform. II. Provide further information requested by the Company in connection with each Loan Request. III. If the Loan Request is approved by the Lender, sign the Loan Agreement with the Lender who has agreed to provide the Loan in a coordinated manner by the Company. IV. Carry out its obligations under the Loan Agreement where it is a Party and this Agreement.
4. The Company must provide services to the Borrower, which include: I. Collection, validation and verification of Borrower Data and other information that must be provided by the Borrower and reviewing the Loan Request on behalf of the Lender.
I. Forward Loan Requests to prospective Lenders listed on the Platform if the Borrower meets the Approved Borrower's Criteria and the Credit Terms Approved by the Lender.
II. Inform the Borrower if the Lender agrees to provide the Loan to the Borrower on the terms and conditions specified in the Loan Request and the Loan Agreement.
III. Creation and operation of a Platform that will, at a minimum, contain the information referred to in Section 5, and the preparation of a Loan Application and Loan Agreement template.
IV. Making and maintaining a Bank Account where the Lender will deposit funds transferred by the Company to the Borrower in accordance with the Loan Agreement and where the Borrower will make all payments made under the Loan Agreement and this Agreement. The Borrower expressly acknowledges and agrees that the Bank Account is an account where all Lenders and Borrowers who use the Company's Platform and services will pay every money and from which all loans will be transferred to the Borrower.
V. Carry out a wire transfer of the principal amount of the Loan to the Borrower after meeting all the conditions set out in Section 4.
VI. Collect all outstanding amounts from the Borrower. The Company is responsible for paying the Lender all amounts owed to him from the amount the Company receives from the Borrower. The Borrower acknowledges that the Company has the right to engage licensed third party debt collection service providers for billing purposes.
VII. Providing other services that may be offered and explained from time to time on the Platform.
5. The Borrower may not communicate, interact or connect, directly or indirectly, with the Lender, other than in the manner provided on the Platform in accordance with this Agreement.
1. The company must make a wire transfer of the principal amount of the Loan to the Borrower after fulfilling the following conditions:
I. The Lender has provided the Approved Borrower Criteria and the Approved Credit Terms and agreed to provide the Loan with the conditions requested in the Loan Application.
II. The Lender must have entered the funds required by the Company and sufficient funds must be available in the Bank Account for the Loans to be given.
III. The Borrower and Lender must have signed a Loan Agreement which, in the case of the Lender, can be done by including the digital code of the Lender by the Company in the Loan Agreement;
IV. The Company has verified the provisions provided by the Loan Applicant as stated in the Loan Request and has been able to contact the Loan Applicant's reference who has verified the information provided by the Loan Applicant; and
V. The Loan Applicant meets the minimum criteria determined by the Lender based on which Platform will be authorized to disburse the Loan.
1. The Company must ensure that the Platform containing the following information is accessible to Borrowers:
I. Calculation of loan parameters;
II. information regarding the status of the Loan Applicant;
III. information about new services and products provided by the Platform.
IV. Information regarding the amount of the Borrower's debt to the Lender based on the Loan Agreement in connection with the Services rendered.
1. The Borrower agrees that the Platform will receive a Loan Request that matches the criteria given by the Lender.
2. The Company has the right to take any action deemed appropriate by the Company to validate the data submitted by the Borrower in the Borrower's Loan Request. Any and all actions to confirm and validate the data in the Borrower's Loan Request will be carried out on behalf of the Lender.
3. The Company does not conduct a credit risk assessment of the Borrower and will only verify data on behalf of the Lender, which will include but is not limited to:
I. Verification by telephone call;
II. Verify Phones that use a one-time password; and
III. Data processing from social network profiles provided by the Borrower during the loan application process.
4. The Company may, at its own expense but without the obligation to do so, engage a third party to conduct the Borrower's credit risk assessment.
5. The Company is not responsible for the authenticity, accuracy or correctness of the data in the Borrower's Loan Request before and after verification conducted by the Company.
6. The company has the right to contact the Borrower or person, who is stated as in the Borrower's Loan Request, on behalf of the Lender through various means, including but not limited to: 1. telephone text messages; 2. email; 3. voice calls; and 4. automatic voice calls.
1. In connection with the provision of Services to the Borrower by the Company, the Borrower must pay the following fees to the Company: The admin fee that must be paid by the borrower is 16% of the loan amount.
2. All fees and other amounts owed under this Agreement must be made free from countermeasures, set offs or other deductions, including deductions for taxes. In the event that a Borrower is legally prohibited from making payments without deduction as specified in Section 7.2, the payment owed to the Company under this Agreement will be increased to the amount required so that the net amount received by the Company after the deduction or suspension is equal to the amount that should have been received if the deduction or suspension is not carried out.
1. The Company promises that the Borrower Data collection and processing will be in accordance with applicable laws and regulations in Indonesia. Personal data will include but will not be limited to, full name, e-mail, date of birth, telephone number, home address, bank account number.
2. The Company has the right and the Borrower hereby gives the Company the right to disclose data of the Lenders in part or in full to third parties which the Company considers in its sole discretion to regulate, process and manage all Loan Requests and Loan Processes, including but not limited to disclosure information to third parties determined to assist in the collection of loan repayments.
3. The Company is not permitted to further use and process Borrower data that it has obtained other than for the purpose of providing the Services, including for managing and processing Loans.
1. The Borrower and the Company are not responsible for any loss or damage suffered by other Parties arising from late implementation or non-implementation of obligations of either Party due to force majeure events; provided that, however, the occurrence of a force majeure event will not excuse or delay the Borrower's payment obligations under this Agreement.
2. Conditions that qualify as force majeure include but are not limited to, war, operations such as war, hostilities, civil war and riots, rebellions, riots, legislative actions or other legally binding actions or imposed by domestic or foreign authorities , strikes (not including those limited to Party employees or controlled partners or companies), closures, difficulties in supplying raw materials, prolonged shortages or restrictions on utility materials, blocked by ice, fire, computer system virus attacks or other unexpected circumstances that prevent wrong one Party to perform its obligations under this Agreement.
One of the Parties will be considered as a breach of contract if one of the following events occurs: a. fail to fulfill one or more of its obligations as stipulated in this Agreement; or b. he was declared bankrupt based on a court decision authorized; or c. he is proven guilty by a final and binding court decision from any jurisdiction or related to criminal activities including but not limited to money laundering and / or terrorism activities; or d. related to the Borrower, he has submitted incorrect data, falsified, and / or misrepresentation as Borrower data. The company has full authority to determine whether the submission has been made.
1. The company can terminate this Agreement for any reason immediately at any time by giving written notice and the borrower is obliged to complete all loans plus the agreed cost burden at the beginning of the agreement.
2. From and after termination under Section 10.1 and receipt of termination notice under Section 10.2, no Loan will be received by the Borrower. After all loans and outstanding fees outstanding to the Company have been paid on the effective termination date, the Company will terminate the Agreement
3. Termination of the Agreement will not affect the rights of any of the Parties arising before and including the termination date under this Agreement. In the event that one of the Contractual Parties breaches according to this Agreement, the breach of the contract has not been fixed within ten (10) days of receipt of the notification of the contract breach from the other Party, the Non-contracted Party has the right to terminate this Agreement upon the expiration of the 10 (ten) period ) that day and, in addition, has the right to exercise any and all legal rights and remedies available to non-breach parties under nigerian law; provided that, however, the Company's maximum liability to the Borrower under this Agreement is the fees paid by the Borrower to the Company under this Agreement.
4. Notwithstanding anything to the contrary in this Agreement, no Party shall be liable for indirect or consequential damages suffered by other Parties, including final benefits (other than those obtained or that will be obtained by the Company under this Agreement), lost opportunities or punitive compensation.