By accessing or using this Site and its related software tools, applications or any other service under SURITY CASH LENDING INVESTORS CORP. you agree to be bound by these Terms and Conditions, restrictions, or rules that may be posted in connection with specific sections or services of this Site/APP. If your use of this Site/APP on behalf of any business, organization, or other entity of any kind, you represent and warrant that you are authorized to accept these Terms of Use on its behalf and to bind such business, organization, or entity to these Terms of Use. If you do not agree with any of these terms, you are prohibited from using or accessing this site/APP. SURITY CASH LENDING INVESTORS CORP. reserves the right to make changes to this Site/APP and to these Terms of Use at any time without prior notice. You should review these Terms of Use each time you access this Site/APP.
By using SURITY CASH, which is under SURITY CASH LENDING INVESTORS CORP., you agree to the terms listed below.
This Agreement is entered into this __________ day of _____________ 2019, by and between:
SURITY CASH LENDING INVESTORS CORP. ("Lender"， hereinafter referred as ‘Surity Cash’), a corporation duly organized and existing under and by virtue of the laws of the Philippines, with address at 12TH FLOOR, ASEANA 3 BUILDING, D.MACAPAGAL BOULEVARD CORNER ASEANA AVENUE, ASEANA CITY,TAMBO,PARAÑAQUE CITY
("Borrower") with address
ZEGEN Information Technology Inc. (“Service Center”), a corporation duly organized and existing under and by virtue of the laws of the Philippines, with address at 4F AFAB ADMIN BLDG FREEPORT AREA OF BATAAN.
WHEREAS, the Lender agrees to lend the Borrower subject to the terms and conditions hereinafter set forth, and the Service Center shall be the authorized collection agency of the Lender.
WHEREAS, the Service Center is tasked for the maintenance of account of Borrower and in charge of collection of the loan, if due and demandable already.
1 Loan availment. The Lender hereby extends to the Borrower a Loan in the principal amount of PHP 2000 in the following manner: • Interest rate: 0.05%（PHP 10）per day • Payment Due: PHP 2167 inclusive of interest. The Principal amount, interest, penalty and account maintenance fee shall be payable to the account of the Lender • Maturity Date: 7 days from date of loan disbursement • Cash pickup processing fee (if applicable): PHP130, shall be deducted from the principal amount of the Borrower and paid to the selected cash pickup partner. • Service Fee, includes but not limited to processing fee, collection commission, technical support fee, and marketing fee, 160 , the account of Service Center.
1.1 Loan disbursement may take a period of up to five (5) days from date of this Agreement. Borrower will be notified via SMS to his/ her registered cellphone number once the loan is disbursed.
1.2 Cash disbursement to the Borrower shall either be through online bank transfer or offline cash pick-up. In case of offline cash pick up, a transaction fee of Php 130.00 shall be charged to the borrower.
1.3 The Borrower, before the release of the approved loan, the service charges shall be deducted in the loan approved.
2 Loan Reconstruction/Extensions/ Renewals. No loan reconstruction/extension or renewal of this Loan Agreement shall be valid and binding unless approved in writing by the authorized officer/s of the Lender and as agreed to by the Borrower in accordance with the policies of the Lender.
3 Eligibility Criteria. The release of the proceeds of this loan shall be subject to approval based on Lender's verification of Borrower's identity and information. Should the release of such loan proceeds be disapproved, the Lender shall so inform the Borrower through a Notice of Denial, but the Lender has no obligation to furnish the reason for the rejection. In such event, this Loan Agreement shall be deemed to be automatically cancelled without need of further notice, other than the Notice of Denial earlier furnished to the Borrower.
4 Loan disbursement. The Lender shall not be responsible for any loan disbursed to wrong bank account due to erroneous inputs made by the Borrower. The Lender shall also not be held liable should there be any delays or problems in loan disbursement due to issues of third parties which the Borrower has chosen for loan release method. When the borrower selects to claim the disbursement amount through any offline cash pickup partners of the Lenders, the cash pickup processing fee, amount of PHP 130.00, will be deducted from the final approved loan amount by the Lender from the Borrower and be paid to the selected offline cash pickup partner on behalf of the Borrower.
5 Application of Payment. Any and all payments made by the Borrower shall be applied on the following items in the order they are listed:
i. Any stamp duty or other charges permitted by law
ii. In payment of enforcement expenses
iii. Late payment penalties
iv. Past due unpaid items from the oldest due date to the latest in the following order of items:
a. Fees b. Interest c. Principal
*Different order from above mentioned might be applied when the Borrower is under specific loan status.
6 Default. Upon the happening of any of the following events, the Lender may, at its option, accelerate maturity of this Loan and the entire outstanding amount of this Loan shall automatically become due and payable without need of demand or notice:
i. The Borrower violates any of the terms and conditions of this Loan Agreement;
ii. Any interest or installment is not paid on due date;
iii.The Borrower is in default in respect of any other obligation with the Lender or its subsidiaries, which obligation(s) may now be existing or may subsequently be granted to the Borrower by the Lender or its subsidiaries/ affiliates;
iv. The Borrower violates the terms and conditions of any contract with any other banks, persons, corporations or entities, for the payment of borrowed money, or any other events of default in such contracts should occur;
v. Any creditor, by legal process, attempts to or shall attach or levy on the Borrower's money or any property in the possession or custody of the Lender;
vi. The Borrower applies for voluntary relief or is made subject to proceedings under bankruptcy or insolvency laws;
vii. The Borrower dies;
viii. In case of conviction for a criminal offense with final judgment carrying with it the penalty of civil interdiction affecting the Borrower or any of the Borrower's properties;
ix. Upon the occurrence of any act or event which in the Lender's opinion, results in the impairment of the financial capacity of the Borrower;
x.The Lender believes on reasonable ground that it was induced by fraudulent misrepresentation of the Borrower to approve the loan application.
7 Effects of Default. Upon the Borrower's default as herein defined, his account shall be considered a "delinquent account" for purposes of the late payment charges under Section 8 hereof and the Lender is hereby authorized, at its option, to disallow any further loan applications. The amount certified by the Lender as the amount outstanding shall be prima facie evidence of the amount due as at the date thereof. The Lender reserves the right to endorse the account to the Service Center or a collection agency of its choosing in the event of default.
8 Late Payment Charges. If the Borrower's account is delinquent, a late payment charge of 1.5% of loan amount per day shall be added to the outstanding balance from due date thereof until fully paid.
9 Collection. In case of delay, the Service Center is authorized to follow up and collect delinquent accounts. Any charges incurred for the collection of such loan shall be charged to the Borrower.
10 Collection Process. The Borrower shall be contacted by the Service Center ________ days before the due date of the loan to remind the Borrower of the said due date. In case the Borrower cannot be contacted, the Contact References of the Borrower shall be reminded of the said due date.
In events of default, the Service Center shall first contact the Borrower to inform him/her of the fact that he/she has defaulted in his/her loan and the Borrower shall also be informed of the details and status of the loan application. In case the Borrower cannot be contacted, the Service Center shall then contact the Contact References provided by the Borrower in her loan application to ask said Contact References to remind the Borrower of her obligation/s with the Lender. This may include disclosure of the details and status of the Borrower’s loan.
In the event that the Borrower and all his/her Contact References cannot be contacted, the Service Center will now contact the other contacts of the Borrower in order to ask them to remind the Borrower of his/her obligation/s with the Lender. Provided that, the Borrower has given his/her consent by allowing the Lender and the Service Center to access his/her contacts in the SURITY CASH Application.
The information authorized to be disclosed in this Section shall include those information authorized to be disclosed, divulged, and revealed in Section 12 of this Agreement.
11 IT Service Fees. The Borrower shall also pay an IT Fee to the Service Center for the maintenance of the account of the Borrower.
12 Change of Address. The Borrower undertakes to inform the Lender in writing within five (5) days from any change in his/ her residence address from the one stated in this Loan Agreement. Should he/ she fail to do so, the entire balance of the loan obligation including any interest, penalty or charge shall be immediately demandable by the Lender without need of further demand.
13 Right of Offset. The Borrower hereby authorizes the Lender and Service Center upon his default, to apply in payment of his obligations under this Loan Agreement, any and all of my monies or properties of any kind whatsoever which, for any reason, are presently or may hereafter come into the possession of the Lender. This is without prejudice to the Lender's right to pursue and exercise alternatively, concurrently and cumulatively all other rights and remedies now or hereafter available to it under the other credit instruments and the applicable laws.
14 Attorney's fees. In case of resort to court and/or legal proceedings to recover any unpaid obligation under this Loan Agreement is commenced, the Borrower agrees to pay, as and for attorney's fees, a sum equivalent to twenty percent (20%) of the total amount due under this Loan Agreement but in no case less than TEN THOUSAND PESOS (PhP 10,000), plus expenses and costs of collection, in case this Loan Agreement is placed in the hands of an attorney for collection.
15 Waivers. The Borrower waives in advance his/her right to make application of payment under Art. 1252 of the Civil Code of the Philippines (RA No. 386), especially in the case where the Borrower has more than one obligation in favor of the Lender, regardless of the source and nature of the said obligations.
The Borrower hereby willingly, voluntarily, and with full knowledge of his right under the law, waives the right to confidentiality of information and authorize the Lender and Service Center to disclose, divulge and reveal any such information relating to Borrower's loan availment, including events of default, for the purpose of, among others, client evaluation, credit reporting or verification, reminders on the due date or amount of obligation and collection or recovery of the obligation due and payable to the Lender under the terms and conditions of this Loan Agreement.
In view of the foregoing, the Lender and Service Center may disclose, divulge and reveal the aforementioned information to the Borrower’s Contact References, and, in case they cannot be contacted and the Borrower still fails to pay his/her obligation, the other contacts in his/her phone, given that the Borrower gives consent to the same by allowing the Lender to access his/her contacts in the SURITY CASH Application. The Lender and Service Center may also disclose, divulge and reveal the aforementioned information to third parties, including but not limited, the Borrower’s employer, credit bureaus, the Lender's affiliates, subsidiaries, agents, service providers, as well as any prospective assignee or transferee, rating agency, insurer, and any such person, entity or regulatory body that may be required by law or competent authority.
The Borrower holds the Lender and Service Center free and harmless from any and all liabilities, claims and demands of whatever kind or nature in connection with or arising from the aforementioned disclosure or reporting.
16 No Implied Waivers. No failure or delay on the part of the Lender and Service Center in exercising any right or power hereunder shall operate as a waiver thereof, nor shall any single or partial exercise of any other right or power hereunder. No modification or waiver or any provision of the Credit Instruments and no consent to any departure therefrom by the Borrower, shall in any event be effective unless the same be in writing, and then such waiver or consent shall be effective only in the specific instance and for the purpose for which given. No notice to or demand in similar or other circumstances.
17 Data Privacy Clause. The Borrower hereby acknowledges and agrees that the Lender or its authorized officer/s ay process sensitive personal data about the Borrower. The Borrower hereby gives her express consent to the Lender to process any such sensitive personal data. Any information and data provided by the Borrower to the Lender and used by the Lender directly or indirectly in the performance of this Agreement. The Borrower shall take reasonable precautions to preserve the integrity and prevent any corruption or loss, damage or destruction of the said personal data. The Lender hereby reserves the right to have the personal data collected from the Borrower to be stored for as long as the any of the purposes for which it was collected that have been consented to, still exists and until the storage of said information no longer needed for any other legal, regulatory or business purposes. The Lender hereby agrees to comply and use adequate safeguards and standards in accordance with the Data Privacy Act of 2012, and its Implementing Rules and Regulations.
18 Lender’s Terms of Use. The Lender’s Terms of Use shall become part of this Agreement by way of incorporation and shall govern such other terms and conditions of this Agreement. In case of conflict, the provisions of this Agreement shall prevail.
19 Separability Clause. If any of these provisions are declared invalid or illegal, such invalidity or illegality shall not in any way affect the remaining provisions hereof or any vested right which may have already accrued in favor of the Lender and Service Center.
20 Taxes, etc. Any and all taxes, charges, or assessments of whatever kind or nature to which this Loan Agreement, at any time or in the future may be subject, shall be for the sole and exclusive account of the Borrower.
21 Right to Assign. The Lender may assign, transfer and convey any or all of its rights and interest over this Loan Agreement and the Collateral, if any, without the consent of the Borrower.
22 Book Records as Evidence. The books of the Lender shall be final and conclusive evidence concerning the amount due and owing to it from the Borrower under this Loan Agreement, in the absence of manifest error.
23 Venue. Any court action arising under or by virtue of this Loan Agreement shall be instituted in the proper court of Manila City, to the exclusion of all other courts. By his/ her signature hereunder, the Borrower irrevocably submits to such venue.
I acknowledge that I have read this Loan Agreement prior to submitting my loan application and that I understand and fully agree to this Loan Agreement and its terms and conditions.
I have read and agree to bind myself to these terms and conditions governing my loan availment from SURITY CASH. I hereby confirm that the cellphone number registered for this Loan Application is owned by myself.
I hereby certify that all information herein are true and correct based on my own knowledge and further authorize SURITY CASH to obtain information as it may require concerning my application and agree that it shall remain SURITY CASH property whether my application is approved or not.
If the information above is different from the information on record with SURITY CASH before the execution of this agreement, I hereby authorize SURITY CASH to update its existing records with the information stated in this agreement. I am likewise obligated to immediately report any intended changes in my home, office phone numbers and mobile phone numbers.
CONSENT TO BACKGROUND AND REFERENCE CHECK
I, _______________, hereby authorize ______________ and its authorized representatives to conduct an investigation of my background, character references, past employment, educational background, and criminal history record information, including those maintained by both public and private organizations, and all public records, for the purpose of confirming the information contained on my application which may be material to the approval of my loan application. It is understood that a print, facsimile (fax) or photocopy of this consent shall be considered as valid as the original consent. I hereby give my consent for to verify all information I have provided in my application form. I also agree to include as part of the conditions of my loan application any additional written authorization necessary for ____________ to obtain access to and copies of records pertaining to the information herein provided. It is understood that any false, misleading information or misrepresentations by act or omission, made by me on this application or any related document, will be adequate ground for disapproval and I will be held liable for damages incurred by the Lender.
On this ___ of ______, _______contract date） Digitally signed by Shawn hing Chong after finishing reading and agree to this Loan Agreement.
Digitally signed by (Service Center Representative) SURITY CASH LENDING INVESTORS CORP. INC. (Creditor) DISCLOSURE STATEMENT ON LOAN/CREDIT TRANSACTION (As Required under R.A 3765, TRUTH IN LENDING ACT) NAME OF BORROWER: Shawn hing Chong ADDRESS: 10th Floor, PBCOM Tower, 6795 Ayala Avenue,Makati City City Of Makati Metro Manila 1. LOAN AMOUNT: PHP 2000 2. FINANCE CHARGES: a. Interest rate: 0.05% per day PHP 10 - Principal amount, interest, penalty and account maintenance fee shall be payable to the account of the Lender b. Cash pickup processing fee (if applicable): PHP 130, shall be deducted from the principal amount of the Borrower and paid to the selected cash pickup partner. c. Service Fee, includes but not limited to processing fee, collection commission, technical support fee and marketing fee: 160_, payable to the account of Service Center. 3. NET RECEIVABLE AMOUNT: PHP 2000 4. SCHEDULE OF PAYMENTS: a. Single payment due 7 days from date of loan disbursement: PHP 2167 b. Installment Payments: N/A 5. EFFECTIVE INTEREST RATE PER MONTH (Interest and Other Charges): 8.35% 6. CONDITIONAL CHARGES THAT MAY BE IMPOSED (if applicable): a. Late charge: 1.5% per day until fully paid I ACKNOWLEDGE THAT I HAVE READ THIS STATEMENT PRIOR TO SUBMITTING MY LOAN APPLICATION AND THAT I UNDERSTAND AND FULLY AGREE TO ITS TERMS AND CONDITIONS. Digital signature
Date