Ipeso Loan Agreement
Contract No : 【】
Ⅰ . Borrower information
1. Borrower Name : 【】
2 . type of certificate : 【】
3 . ID number ： 【】
4 . Phone Number ： 【】
Ⅱ . Loan details
1 . Loan amount ： 【】
2 . Loan time ： 【】
3 . interest ： 【】
4 . Repayment time ： 【】
5 . Platform management fee ： 【】
Platform management fees includ e : approval of platform fees, collection of platform fees, payment of channel fees when loan issuance, etc. platform is borne by the borrower; Platform management fees will be deducted by the platform before loan issuance .
Ⅲ Rights and obligations of both parties
1 . Rights of the parties
1. 1 Borrower rights
(1) The borrower has the right to know the progress and results of his credit evaluation from the platform;
(2) The borrower irrevocably authorizes the platform party to deduct the agreed platform fee in a lump sum before the lender releases the loan.
(3) When the bill is due, the borrower needs to repay the loan principal + loan interest to the designated account in one lump sum.
1. 2 Platform party rights
(1) The platform party has the right to charge the borrower a one-time platform fee. The platform fee includes: approval platform fee, collection platform fee, payment of channel fee when loan issuance, etc.
(2) The platform party has the right to verify the personal information provided by the borrower, including but not limited to information such as ID number, bank account, e-commerce account, geographic location, and electronic address book;
(4) The platform party has the right to decide whether to issue loans on behalf of the lender based on the review of the borrower's information and credit records;
2 . Obligations of both parties
2. 1 Borrower obligations :
(1) The borrower is a natural person who has full capacity for civil rights and capacity for civil conduct in compliance with Philippine law, and can independently exercise and assume the rights and obligations under the agreement;
(2) The borrower guarantees that the ID number, mailing address, contact number, emergency contact person and other information provided in the account registration and loan application are true and valid. If there is any change, the platform will be notified within three days after the change;
(3) The borrower shall truthfully provide personal information to the platform party, and authorize the platform party or a third-party channel designated by the platform party to verify such personal information, and authorize the platform party to manage and use such personal information for the purpose of this agreement. The borrower shall bear all consequences and legal responsibilities when the personal information provided is deemed false
(4) The borrower promises and guarantees that during the loan period, it will not use the loan to engage in activities that violate laws, regulations or policies;
(5) The borrower needs to operate for himself when applying for a loan;
(6) The borrower maintains a good credit record and credit, and fulfills the obligation of repayment on time in accordance with this agreement;
(7) The borrower guarantees to repay the current payment in full to the designated agreed account before 24:00 on the last repayment date
2. 2 Obligations of the platform party
(1) The platform party is a legal person that can independently exercise and assume the rights and obligations under the agreement in compliance with the Philippine law, and provide a lending platform for lenders and borrowers;
(2) The platform party shall review the borrower's information, review the borrower's credit record, and have the obligation to keep the verification information authorized by the borrower confidential; for example, due to relevant authorities (including but not limited to courts, arbitration institutions, (Financial regulatory agencies) require or compulsory requirements by law, the platform has the right to disclose without the consent of the borrower and lender;
Ⅴ. Liability for breach of contract and relief
1 . Borrower default
(1) The borrower is unable to perform the repayment obligations as stipulated in this agreement, including circumstances such as incomplete performance;
(2) The borrower extends the repayment period;
In case of situation (1), the borrower shall pay overdue liquidated damages in a certain proportion based on the remaining principal.
In the case of situation (2), the lender shall pay the deferred approval fee daily according to the standard of adding variable/day.
If a lawsuit occurs due to the borrower's breach of contract, the borrower shall bear the platform's legal fees.
2 . Platform default
The platform system failure of the platform party prevents the borrower from repaying the loan in time, and the borrower does not need to bear additional costs.
Ⅵ. Dispute resolution and application of law
1. The signing, performance, cancellation and interpretation of this agreement shall be governed by the laws of the Philippines;
2. The borrower and the platform party shall perform this agreement in good faith based on the principle of honesty and trustworthiness. If there is a dispute, it shall be resolved through negotiation; if the negotiation fails, each party shall have the right to bring a lawsuit in the court of the platform party
3. During the litigation period, the clauses in this agreement that do not involve disputes still need to be fulfilled, and neither party shall refuse to perform its obligations under this agreement on the grounds of resolving disputes.
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Borrower's signature Platform signature
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