Terms and Conditions

TERMS AND CONDITIONS

 

  1. GENERAL
    1. These Terms regulate the terms and conditions of the use the Platform, including rights and obligations related to the operations and services of the Operator as well as rights and obligations of the User.
    2. In order to facilitate the raising and granting of loans over the Platform, the Operator acts as the operator of the Platform. The Operator - DEBTPROFILERS LIMITED is a limited liability company established under the laws of the Republic of Ireland, legal code 686122, registered address Unit 3D North Point House, North Point Business Park, New Mallow Road Cork, Co. Cork, Ireland. The Operator acts as the crowdfunding platform operator. The activities of the Operator and the Platform are not approved or guaranteed by the authorities of the Republic of Ireland and the authorities of the Republic of Ireland has no obligation to any User as to the performance of the Operator.   
    3. The services of the Operator and the Platform are dedicated only to the Users and only in those jurisdictions where and to whom they me be lawfully offered and provided.
    4. Please note that these Terms are suited only for a crowdfunding activity carried out via Platform and for the crowdfunding platform management services provided by the Operator.
    5. The aim of the Platform is to enable its Users to use technical solutions by the means of which they can lend and borrow money for funding of business on the principle of crowdfunding. 
    6. Publishing of a Loan Request and assigning a risk category to it on the Platform does not constitute an investment recommendation to invest.
    7. The Operator does not provide tax, legal or accounting advice. These Terms and other documentation related to the activities of the Operator and Platform has been prepared for information purpose only, and is not intended to provide, and should not be relied on for tax, legal or accounting advice. The User should consult his own tax, legal and accounting advisor before engaging in any transaction. 
    8. In order to borrow money, the User wishing to get the loan, must enter into a Loan Contract, in accordance with the procedure established in these Terms, with a Lender wishing to grant the loan. The relevant Loan Contract constitutes a separate contract between solely the Lender and the Borrower the rights and obligations of which are performed, inter alia, with the specifications and restrictions set out in these Terms. 
    9. By accepting these Terms, the User also accept and confirm the Operator’s Privacy Notice. The  Operator’s Privacy Rules are available here.
    10. The User acknowledge that the Operator shall process personal data as set out in the Operator’s Privacy Notice regardless of whether such data is provided by the User in, or pursuant to, the services of the Platform, or obtained by the Operator from a third party or otherwise. 
    11. By registering as a User, the person submitting the relevant application confirms that they have duly examined these Terms in full, understand them and agree to these Terms and the Operator’s Privacy Notice.
    12. Nothing herein shall render any of the Operator, the User or any participant in any of the aforementioned, partners or join ventures with one another.
    13. To the fullest extent permitted by the laws, the Operator shall not be liable to the User for the gross negligence, dishonesty, wilful default or bad faith of any third party provided that such third party was selected, appointed and/ or monitored by the Operator applying reasonable care and so long.
    14. In making an investment decision, the Lender must rely on their own examination of the Borrower and the terms of the Loan Contract, including the risks involved. No assurance can be given that the investment objective will be achieved and investment results may vary substantially on a monthly, quarterly or annual basis. 

 

  1. REQUIREMENTS FOR THE USER
    1. By submitting the registration application, the User confirms that they have examined in full, understand and agree with these Terms.
    2. The User (Lender or Borrower) can only be a person who has Personal Account in “Paysera LT”, UAB, a limited liability company incorporated in the Republic of Lithuania, registered office at Pilaitės ave. 16, Vilnius, the Republic of Lithuania, authorisation number LB000251, approved as an electronic money institutions by the Bank of Lithuania. Payment services related to the borrowing and lending of the funds through the Platform are performed solely by Paysera. The Operator can change the existing Payment Service Provider at its own discretion at any time. If so, the User will be asked to open a new Personal Account with the new payment service provider.
    3. The User can have only one Personal Account that is assigned with the Platform and is used for crowdfunding activities performed through the Platform.
    4. A User who is a natural person, must be at least 18 years old. A legal person can be a User only in case that legal person is entered into the relevant registry in the contracting member state of the European Economic Area.
    5. The Operator can refuse to register a User at its own discretion or impose additional requirements for registration of a User (including for being a Lender or a Borrower), or change the existing requirements at its own discretion at any time.
    6. Each User hereby undertakes to only provide correct and comprehensive information and documents while registering with the Platform, providing data to the Operator and/ or the Payment Services Provider about User’s and/ or ultimate beneficiary owners’ and/ or representatives’ identities, providing data during the applicable AML principles of the Operator and/ or the Payment Service Provider, concluding contracts, communicating with the Operator or performing other actions related to Operator’s services. Moreover each User undertakes to provide all the necessary information, documents and/or other requested evidence (related to verification of User’s, their ultimate beneficiary owners’ and/or representatives’ identities, origin of funds etc.) to the Operator (or partners of the Operator)  in a manner and within a time period determined by the Operator if so requested by the Operator.
    7. A person who does not meet the above-specified requirements can be a User of Platform only if the Operator has given its written consent for it. 

 

  1. IDENTIFICATION OF THE USER
    1. When registering as a User, the applicant must enter their name, surname, e-mail address, select a password and submit other information requested by Platform and at the Operator’s discretion. 
    2. When registering as a User, the potential User is expected to provide all the information requested by the Operator (or the assigned party) in accordance with the AML principles in order for the Operator (or the assigned party) to be able to determine the identity of the User and of their beneficial owner(s).
    3. The e-mail address and password of the User are personal to that User and are used to identify the User each time the User logs into the Platform, makes transactions or makes any other actions via the Platform. The User should keep it/ his/ her security credentials safe. 
    4. The User must contact the Operator as soon as possible if the security credentials of the User are stolen or lost, or if the security credentials of the User could be used without permission of the User. 
    5. The Operator can restrict the User’s rights or refuse to follow the User’s instructions, inter alia, in case the Operator considers that there is a risk that third person(s) possess the User’s security credentials.

 

  1. ACCOUNT OF THE USER. MANAGEMENT OF THE FUNDS OF THE USER.
    1. Each User has only one Account opened in Platform with the aim of recordkeeping their transaction, balance and certain other actions and communication between the User and the Operator. Inter alia, the Account reflects the balance of funds that the User has transferred to the Personal Account mentioned within the Clause 2.2. The User can’t open more than one Account. The Operator can, at its own discretion, impose restrictions or requirements to the minimum or maximum amount of funds available on the Personal Account. 
    2. The User shall not disclose their login details or any other means of accessing the Account to any third party without the prior written consent of the Operator. The Operator is not responsible for any actions, transactions completed or legal consequences arising from these actions by another User or third party using the User‘s Account or for the consequences of such actions or transactions. 
    3. If not otherwise stated in these Terms and the terms and conditions of the Payment Services Provider, the User can withdraw the positive balance reflected in their Personal Account at any time.
    4. The User can transfer funds to the Special Purpose Account that is managed by the Operator with the purpose of transactions made or to be made by the User trough the Platform in an amount chosen by the User. 
    5. The Operator keeps the funds transferred to Special Purpose Account separately from its own funds. However, funds transferred to the Special Purpose Account can be mixed with the funds of the other Users. The Operator perform the recordkeeping of these transaction and funds transferred to this Special Purpose Account. The Operator does not calculate any interest and no interest is payable to the User on the funds transferred to the Special Purpose Account.
    6. The User can enter into transactions, including grant a loan, repay a loan or make other payments, only on the funds that the User has transferred to the Personal Account. Once the transaction is confirmed by the User, the particular amount is transferred to the Special Purpose Account or reserved. 
    7. If a User has made a transaction the positive balance of the User's funds reflected on the Personal Account is reserved by the Platform Operator in the necessary extent until any payment arising from or pursuant to such transaction is made to the Special Purpose Account, and no other transaction or withdrawal by the User can be made.
    8. The Operator may use the funds transferred by the User to the Special Purpose Account and Personal Account with the view to carrying out any transactions made and actions taken by the User in accordance with the Terms and other contracts and agreements entered into by the User in the course of using Platform. Among other things, the Operator may use the relevant funds for discharging debts owed by the User to other Users, third persons or the Operator, by making any relevant transfers within a reasonable time period.
    9. The User is not allowed to share or anyway transform, pledge or dispose of their user rights over their Personal Account with any other third party including other registered Users. 

 

  1. FUNDING OF PROJECTS
    1. The Operator may, at its own discretion, not allow a User to request a loan or prescribe other additional conditions for requesting a loan.
    2. In order to request a loan, a Borrower must fill in the relevant application form on the Platform. The Platform can request, that in addition to the application, the person requesting a loan must submit the relevant business plan, budget, an independent, evidence of their creditworthiness and any other information and evidence requested by the Operator at any time.
    3. Upon receipt of the application form referred to in clause 5.2. of the these Terms, the Operator reviews the information contained in the application form at its own discretion assessing, among other things, whether or not the project is appropriate for Platform and the creditworthiness of the applicant on the basis of the information supplied and any other information which the Operator considers appropriate and when doing so, the Operator may make enquiries to third parties, any relevant registries and use other sources for collecting any information for the purposes of assessing the application. 
    4. If the Operator finds that the submitted application is acceptable for the Operator, the potential Borrower may complete and confirm, on the terms agreed with the Operator, the Loan Request for funding of the Project. This Loan Request will be published on the Platform and accessible to all Users. The Operator can allocate a risk category to the relevant Loan Request at its own discretion.
    5. Only a person who is registered as a Platform User in their capacity as a Lender and whose identity the Operator has verified in a manner prescribed by the Operator can grant a loan. The Operator may, at its own discretion, not allow a User to grant a loan or prescribe other additional conditions for granting a loan. 
    6. In order to grant or obtain a loan, the Users enter into the respective Loan Contract via the Platform. The Borrower enters into a separate Loan Contract with each Lender and the User can enter into several Loan Contracts for funding a single Project. The risk classification is only for information purpose. 
    7. By accepting these Terms, the Borrower confirms that all the data and documents provided by the Borrower to the Operate are true, accurate and up to date. The Operator has no obligation to verify weather the data and documents provided by the Borrower are true, accurate and up to date.
    8. The Operator has no obligation to control, verify and check whether the Loan was used by the Borrower in accordance to the Loan Contract. 
    9. The Operator does not give any undertaking or make any warranty representations as to the ability of the Borrower to repay the Loan and Interest and the Operator is no way liable for monies owing by a Borrower to a Lender. 

 

  1. ENTRY INTO LOAN CONTRACTS
    1. Entering into a Loan Contract takes place by way of a Borrower making a Loan Request and the Lender wishing to enter into such Loan Contract accepting such a Loan Request, as follows:
      1. the Borrower completes, on the terms agreed with the Operator, the Loan Request and confirms it in accordance with the procedure described these Terms.
      2. The Loan Request lapses if by the end of the Period a Lender or Lenders have not given an acceptance or acceptances in respect thereof, in an aggregate principal amount of loan(s) in at least the Minimum Amount of the Funding Target. The Operator has a right to decrease the Minimum Amount of the funding target as indicated in the loan request until the expiry of the Project financing period.
      3. The Operator has right to extend the initial Project financing period by up to 14 (fourteen) calendar days and the relevant extension does not affect the validity of any Loan Contract(s) entered into before such extension.
      4. An acceptance in respect of a Loan Request may be given by a Lender who has funds available on their Personal Account at least in an amount to the extent of which that Lender wishes to grant a loan. 
      5. By giving an acceptance, a Lender expresses their intention to be legally bound by the Loan Contract to be entered into through the giving of that acceptance. This acceptance cannot be withdrawn.
    2. Please also note, that The Loan Contracts between every Lender and the Borrower are deemed to have been entered into in a chronological order of acceptances and only insofar as such acceptances have been given in an aggregate amount of loans equal to the Maximum Amount of the Funding Target.
    3. The Loan amount may not exceed the Maximum Amount of the Funding Target
    4. In the case where during the Project financing period the requested amount is aggregated and the Loan Contracts are concluded, the Operator the loan amount is held with the Special Purpose  Account, where the loan amount will be held until the Borrower satisfies all conditions necessary for the disbursement to the Borrower. The Loan amount shall be paid out to the bank account indicated by the Borrower only after carrying out of the actions provided for in these Terms as well as in the respective Loan Contract. 
    5. The Operator may deduct applicable fees and costs from the Loan amount immediately before the transfer of the Loan amount to the Borrower’s bank account as indicated in these Terms.
    6. Following the acceptance of the Loan Request, the Operator prepares the Loan Contract in pdf-format (which may comprise one or several documents in pdf-format), which will be sent by e-mail or otherwise made available to the Lender and the Borrower within the Account.
    7. The Loan Contracts will be made available to the Borrower following the lapse of the Project financing period provided that the Loan Request was accepted by Lenders for at least for the amount of the Minimum Amount of the Funding Target shown in the relevant Loan Request.

 

  1. AUTO INVEST
    1. The User has an opportunity to accept the entry into Loan Contracts by using the Auto Invest function. 
    2. The Operator shall have the right to stop or cease offering Auto Invest function at any time at Operator’s own discretion. The Operator may also selectively restrict the use of the function that allows Auto Invest function, for example by disabling this function only to Users from specific countries.
    3. By activating the Auto Invest function, the User (Lender) shall grant the Operator the rights to enter into Loan Contracts via the Auto Invest function pursuant to the criteria chosen by the User. Auto Invest shall act according to the criteria chosen by the User that can be determined via the Account of the User. The Operator may restrict the use of additional criteria considering the size of the amount being invested per Loan Request via the Auto Invest function.
    4. To start the use of Auto Invest function, the User shall confirm that they have understood the possible consequences that the use of the Auto Invest function may entail.
    5. The User who wishes to use the Auto Invest function shall choose, at their own discretion, in the Platform the criteria according to which they would like to enter into a Loan Contract. The Operator shall have the right, inter alia, to establish a minimum size of the investment for using the Auto Invest function and an investment of an amount smaller than that is not possible by using the Auto Invest function.
    6. In order to enter into loan contracts via Auto Invest function, the User must hold sufficient funds in their Account that allow the entry into Loan Contracts pursuant to the criteria chosen by the User.
    7. The Operator, after having received a corresponding order from the User via the Auto Invest function, shall dispose of the funds in the User’s Account in the amount set via the Auto Invest function in accordance with the procedure described these Terms. 
    8. When a new loan application is added in the Platform, the Auto Invest function shall create a list of Lenders, who use the Auto Invest function, on the basis of the time of the most recent investment made via the Auto Invest function as well as the loan amount that they wish to invest via the Auto Invest function. The Lenders whose requested investment size is equal to the minimum amount of investment shall always be assigned a higher priority rank on the list. They shall be followed by the Lenders who have determined an investment size that is larger than the minimum amount of investment, regardless of the exact size of the investment determined. Lenders shall be ranked in both parts of the list according to the most recent transaction made by the Auto Invest function so that the highest rank shall be assigned to the Lender whose funds were used to make a transaction the longest time ago. If the funds of a Lender have not been used via the Auto Invest function, the ranking of the Lender in the list shall be determined, in addition to the size of the investment requested by them, by the time of activation of the Auto Invest function. On the basis of a corresponding list to be generated each time, the system shall decide whose funds can be raised upon making an investment, and to what extent. Auto Investment function shall ensure equal treatment of Lenders upon using the funds granted by them for investment. When a new project is added, the project financing process via the Auto Invest application shall be as follows:
      1. if the amount set out in the Loan Request is larger than the total sum of the amounts set for investment by the Lenders who use the Auto Invest function and to the criteria established by whom the Loan Request corresponds, then:
        (a)    first of all, the maximum loan amount of each corresponding Lender shall be calculated;
        (b)    the rest of the requested funds shall be raised from Lenders by individual acceptances via the Platform according to clause 6.6 of the User Terms;
      2. if the amount set out in the Loan Request is smaller than the total sum of the amounts set for investment by the Lenders who use the Auto Invest function and to the criteria established by whom the Loan Request corresponds, but larger than the total sum of the minimum permitted investments to be calculated for all the corresponding Lenders, then:
        (a)    first of all, the minimum permitted loan amount for each Lender shall be calculated;
        (b)    the amount being applied for that remains uncovered thereafter shall be raised proportionally from the Lender who have set, via Auto Invest function, higher than the minimum size of investment, according to the amount set by them.
      3. if the loan amount set out in the Loan Request is smaller than the amount that would be received if each Lender who uses Auto Invest function and to the criteria established by whom the application corresponds, invested the minimum amount permitted by the application, then:
        (a) the system shall not perform any proportional distribution;
        (b)    Lender shall be provided with an opportunity to invest according to the list formed from the Lender, whereas the Lenders at the beginning of the list shall be started with and the amount raised from each Lender shall be the minimum loan amount set by the Lender;
        (c)    Lenders shall be raised until the loan amount is reached and the amount of investment of the last Lender is the amount upon raising which the loan amount specified in the Loan Request has been raised in full;
        (d)    the Lender from whom funds are raised shall be placed at the end of the list.
    9. The User can, via their Account and at any time, obtain an overview of the criteria set by them according to the Loan Contracts entered into via the Auto Invest function and the disposal of the funds in their Account. The Operator shall send to the User’s e-mail address notifications of the agreements that have been entered into, by confirming the entry into the Loan Contracts and the disposal of the funds in the account According to the criteria set by the User.
    10. The User may, at any time, turn on, temporarily suspend or turn off the Auto Invest function or change the criteria of the Auto Invest function.
    11. The Operator shall not be liable for any loss that the User has incurred or may incur upon using the Portal or the services offered by it, including when using the Auto Invest function. 

 

  1. MATTERS RELATED TO PERFORMANCE OF A LOAN CONTRACT
    1. The Operator transfers the loan amount(s) to the Borrower’s account after perfection of the Security Measures. 
    2. The Loan amount(s) are deemed to have been transferred to the Borrower from the moment the amounts have been transferred to the Borrower’s bank account.
    3. If the Loan Contract provides that the loan is repayable in instalments pursuant to the repayment schedule, or interest payable pursuant to the interest payment schedule, the Operator prepares the relevant repayment schedule or interest repayment schedule and delivers it to the Lender and the Borrower. The relevant repayment schedule or interest payment schedule is sent to the Borrower in the form where the payments to be made by the Borrower are shown cumulatively in respect of all the relevant Loan Contract. If the repayment schedule or the interest payment schedule changes during the validity of the Loan Contract, the Operator prepares a new schedule and delivers it to the Lender and the Borrower within a reasonable time after the changing of the relevant schedule.
    4. The Borrower may prepay a loan prematurely in accordance with the terms of the Loan Contract and only if such a permission is given by the Operator in a format which can be reproduced in writing.
    5. If a User must perform any financial obligation, there must be, no later than on the day when that financial obligation becomes due, free funds on the User's Personal Account for the purpose of performing the relevant obligation in an amount equal to the amount necessary for performance of that financial obligation in full.
    6. If the Borrower must at the same time perform a financial obligation to multiple Lenders and there are no free funds on the Personal Account of the Borrower for the performance of all the financial obligations in full, the remaining insufficient funds on the Personal Account are to be applied towards the performance of those financial obligations to all the relevant Lenders proportionally with the ratio of the outstanding balance of the loan amount granted by a Lender bears to the aggregate outstanding balance of loan amounts granted under all Loan Contracts entered into for the funding of that Project (pro rata). 
    7. A User may not perform the financial obligations they owe by way of set-off or make withholdings or deductions from the amounts payable by them without the consent of the Operator given in a format which can be reproduced in writing.
    8. The Operator performs an administrative function in the execution and performance by the Users of Loan Documents with the view to facilitating the performance of the Loan Documents and communication between Users. When collecting any amounts owed by a Borrower, each of the Operator acts at its own discretion on the basis of what the Operator considers to be, and in the Operator’s experience is, in the best interests of the Lender.
    9. The Operator is not party to the Loan Contract(s) entered into via Platform but in certain cases the Operator is entitled to rely on the provisions of the Loan Contract and demand on their own behalf the performance of certain provisions of the Loan Contract.
    10. Among other things, the Operator is not liable for:
      1. performance of User’s obligations;
      2. validity or accuracy of information and/ or confirmation(s) published or provided by a User in the Platform or any Loan Document; 
      3. the liability applies also to any details and other information published in the Platform in respect of Projects and Users and also information published by the Operator in case the Operator had not published false or inaccurate information intentionally;
      4. any disruptions or impediments that may occur in the operation of the Payment Service Provider, including for any losses which may directly or indirectly be incurred as a result of the in solvency or moratorium of such institution or any other similar event;
      5. losses incurred as a result of any act or failure to act by the third persons
      6. enforceability of contracts and other legal documents used in the Platform, including those used for the carrying out of transactions through Platform;
      7. loss of profit or other indirect losses, or other damages caused as a result of its conduct other than intentional misconduct;
      8. any economic loss, delay or failure in performance of any part of these Terms to the extent that such loss, delay or failure is caused by or during the Force Majeure circumstances. 


 

  1. ASSIGNMENT OF THE CLAIMS ARISING FROM THE LOAN CONTRACTS ON THE SECONDARY MARKET
    1. There is no public and regulated market for the assignment of Loan Contracts or rights related to the Loan Contract. The Loan Contracts are subject to restrictions and transferability and release and may not be transferred or resold except as permitted under these Terms and may not be sold or otherwise transferred except with the consent of the Operator and in accordance with the requirements and conditions set forth in these Terms.

 

  1. The Platform may offer a function, which allows the Lender to assign a claim to another User of the Platform, except to the User that the claim is against, by concluding a contract of assignment in the Platform. 
  2. The Operator shall have the right to stop or cease offering a function that allows assignment of claims at any time at Operator’s own discretion. The Operator may also selectively restrict the use of the function that allows assignment of claims, for example by disabling this function only to Users from specific countries.
  3. The Operator may impose restrictions on the price of a claim to be assigned, e.g. restrict the extent of discount or mark-up the assignor may apply to the assignment of the claim.
  4. The Lender shall make a proposal to conclude a contract of assignment via their account in which the conditions for the assignment of the claim are specified, including:
    1. the amount of the claim to be assigned;
    2. the price of the claim to be assigned.
  5. The proposal to conclude a contract of assignment shall be effective in the Platform for up to 30 days during which acceptances can be given in respect of the proposal. In case no acceptances from the other Users have been given during the 30 days the respective proposal shall be automatically deactivated and no further acceptances in respect of the proposal can be given. A proposal for concluding a contract is also automatically deactivated if, following the publication of the proposal on the Platform, any disbursements, such as interest payments or principal repayments, are made to the assignor under the underlying Loan Contract.
  6. The contract of assignment is concluded if the assignee has given its acceptance to the proposal in accordance with the procedure described in these Terms.
  7. By giving an acceptance and entering into a contract of assignment a User expresses their intention to be legally bound by the Loan Contract from which the claim arises. This acceptance cannot be withdrawn, unless otherwise stated by applicable law.
  8. A User may give an acceptance to an offer to enter into a contract of assignment only if the User has funds available on their Personal Account at least in an amount to the extent of which the price of the claim is set. After the conclusion of a contract of assignment, the Operator shall debit the Personal Account of the Lender who bought the claim and credit the Personal Account of the Lender who assigned the claim in an amount of the price of the assigned claim.
  9. After the assignment of the claim the Operator shall have the right to withhold a service from both the assignor and the assignee of the claim.
  10. The Operator shall inform the Borrower of an assignment of a claim against them via the Operator in accordance with the procedure described in the Terms.
  11. Upon the conclusion of the contract of assignment all agreements related to the additional interest payable to the Lender selling their claim shall be transferred to the assignee of the claim.

 

  1. PAYMENT DEFAULTS AND OTHER BREACHES
    1. If a Borrower does not perform any obligations arising from a Loan Contract, these Terms or other Loan Documents, in a timely manner, or if a ground for extraordinary cancellation of a Loan Contract arises, the Operator or other authorised representative can conduct any actions or take steps on behalf of the Lender(s) and/ or itself that the Operator and/ or the authorised representative considers at their own discretion to be necessary or desirable to achieve the performance of the relevant obligation and/or cancellation of the Loan Contract or the use of another legal remedy.
    2. Inter alia, the Operator and/ or the authorised representative may at their own discretion:
      1. send reminders, notices and warnings to the Borrower;
      2. commence court or arbitral tribunal proceedings, enforcement proceedings, and bankruptcy or other insolvency proceedings, by the procedure provided for by law and in accordance with these Terms, including participating in the relevant proceedings as a representative of the Lender and on behalf of the Lender;
      3. restrict the Borrower’s rights for using Platform; or
      4. organise the enforcement of security by the procedure provided for by applicable law and the relevant agreement of establishment of security or take directly or indirectly control over the security in the interests of the Lenders.
    3. By registering as a User, each user gives instructions, consent and authorisation to the Operator, with the right of sub-delegation, to carry out, on behalf of the User and as their representative, the actions and steps described in clause 10.2 of these Terms at their own discretion, with the Operator being entitled to use third persons for the carrying out of such actions and steps. The above described instructions and authorisation also include the right of the Operator to perform any action and/or transaction on behalf of and as a representative of the User which in the Operator’s opinion is necessary.
    4. In accordance with the applicable legal acts the Operator is entitled to request in its own name a compensation for recovery costs for performing operations described in Clauses 10. 

 

  1. GENERAL OBLIGATIONS OF THE USERS
    1. Each User shall themselves assess the suitability and risk of the relevant transaction and, if necessary, use the help of advisers who are specialists in the relevant field.
    2. By registering as a User the User confirms, among other things, that when using Platform, including when concluding transactions via Platform, they understand the risks involved in using Platform (including the possibility that when the risks related to use of Platform and investing materialise, they might not get back their investment or make the expected profit from it) and acts only at their own risk.
    3. A User must themselves declare and pay the taxes payable in connection with transactions and actions made via Platform to the extent and by the procedure provided for by applicable laws.
    4. The User agrees and confirms that the communication between the Lender and Borrower can be performed only through and with the help of the Operator.
    5. Collection of any financial obligation arising from a Loan Contract, these Terms or other Loan Documents may take place only by the procedure prescribed these Terms through and with the help of the Operator. The User has no right to take such actions or steps independently. 
    6. The User must act in good faith when using the Platform and take the rights of other Users into account and not use Platform for the purpose of causing harm to other Users and/ or the Operator or for other purposes that are against laws.
    7. The User agrees and confirms that any information provided is true and accurate. 
    8. The User themselves shall bear all costs, fees, duties and taxes accompanying the use of Platform.

 

  1. POWER AND AUTHORITY OF THE OPERATOR
    1. The Operator shall have full power and authority to do each of the following things on behalf of and, where appropriate, so as to bind the User:
      1. Pursuant to and upon the User’s acceptance as an User, the User hereby appoints the Operator and any respective duly appointed representatives of the Operator, as our representatives and on our behalf, in each case with full power to delegate to any person it thinks fit and to appoint any person as its substitute, to execute: (a) any deed, agreement, notice, form or other document or instrument whatsoever the execution of which in connection with the performance, execution, perfection and enforcement of the Loan Contract, related documents and Security Measures as the case might be. Under the request of the Operator, the User will issue the documents confirming the above specified authorisation.
      2. For the avoidance of doubt, the power of attorney granted to the Operator and their duly appointed representatives in these Terms are intended to be limited solely to those matters that are expressly contemplated under these Terms and are not intended to constitute a general grant of power of attorney to independently exercise discretionary judgment in relation to any matters on any User’s behalf or increase the liability of the Operator. 

 

  1. AMENDMENTS AND TERMINATION
    1. The Operator shall be entitled to change the Terms including all relevant documents and documents. The Operator may at is own discretion require that the Terms are confirmed by the User.
    2. If the Lender and the Borrower wish to amend a Loan Contract, all the amendments shall be negotiated and signed through the Operator
    3. At the written request of the User, the Operator terminates the User account if they are not a party to any Loan Contract, the relevant User has no monetary claims against any other User in connection with the use of the Platform and the relevant User has performed all financial obligations incurred towards the Operator. When the user status is terminated the Operator transfers the positive balance of the funds reflected on the Personal Account of the relevant User to the bank account identified by the User.
    4. The Operator has a right to immediately terminate business relationship with the User, including all concluded agreements, in the following events:
      1. The User fails to make any payment to the Operator;
      2. The User is in breach of any relevant country law and/ or regulation;
      3. The Operator is dissolved;
      4. The Operator is obliged to do so under the applicable laws.
    5. Termination of the business relationship does not exempt the User from execution of all responsibilities to the Operator or other Users which have arisen before such termination. 

 

  1. SUSPENSION OF SERVICES
    1. The Operator, at its own discretion, has the right to unilaterally and without a prior writing apply on or both of the following measures:
      1. Suspend the provision of or refuse to provide the Operator’s services;
      2. Limit User’s access to the Platform.
    2. Measures indicated in Clause 14.1 of the Terms can be applied in the following cases:
      1. If the Users violates the Terms or other agreements or there are suspicions that the User has violated the Terms;
      2. The actions of the User can harm the Operator’s reputation or might cause losses, monetary sanctions or other negative consequences to the Operator;
      3. In cases laid down in the applicable laws;
      4. Due to the objectively justified reasons related to safety of the operations of the Platform.

 

  1. FEES. RIGHT TO SET OFF 
    1. The User shall pay to the Operator the fees in the amount established in the Fees and Commissions List. If the User fails to duly discharge it/ his/ her payment obligations to the Operator within the established time limits, the User must pay to the Operator penalty (fines or penalties in the amount established by the Operator and/or legal acts of the Republic of Ireland and/or interest.
    2. Where any User owes any amount or has incurred any liability to the Operator and whether such liability is liquidated or unliquidated, the Operator shall be entitled to set off the amount of such liability against any sums that would otherwise be due to the Operator. The Operator shall also have a right to debit and/ or instruct to debit the fees from the Personal Account of the User opened with the Payment Service Provider.

 

  1. FINAL PROVISIONS 
    1. The User and the Operator communicates electronically. The User agrees that for all purposes of the use of the Platform, the Operator can communicate with the User electronically by email or by posting notice in the User’s Account on the Platform as they case may be. The User also agrees to Operator communicating and or serving notices on it or him or her to the most recent address the User provided to the Operator. The User agrees that the communication between the User and the Operator will be made in English.
    2. The Terms are governed by and interpreted in accordance with the laws of the Republic of Ireland. 
    3. The courts of the Republic of Ireland shall have exclusive jurisdiction to hear and determine any suit, action or proceedings, and to settle any disputes, which may arise out of or in connection with these Terms.
    4. If any part of the Terms is found invalid, unlawful or unenforceable, other terms and conditions shall continue to be valid and biding to the User.
    5. The rights and obligations of the User under the Terms, Loan Contract and/ or related documentation cannot be transferred to any other person without a prior consent of the Operator.
    6. The Operator shall have a right to transfer to third person fully or partly his right and obligations under the Terms and/ or related documents.
    7. Without the prior written consent of the Operator, the User shall not, and shall use all reasonable endeavours to procure that neither they nor any person connected with or associated with each such User shall, disclose to any person any confidential information which may have come to its knowledge.  
    8. If the User has complaint in relation to the services of the Operator, the User can write the request to us at info@debtprofilers.com . The Operator will endeavour to respond to any complaint as quickly as possible.
    9. The User may not print off, adapt, reproduce or download the Platform any extracts form it, hack or harm the Platform.