GENERAL CONDITIONS OF THE CONSUMER CREDIT AGREEMENT
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1. Main definitions of this agreement
1.1. Consumer credit agreement – this agreement, the definition of which matches the definition of the Consumer credit agreement that is specified in the Consumer credit law of the Republic of Lithuania, together with its special and general conditions and annexes, including all appendments and/ or amendments of this agreement.
1.2. General conditions – these conditions of the agreement that specify the rights and obligations of the Client and the Company, the terms of the Consumer credit granting and repayment, legal consequences of the failure to perform the Consumer credit agreement, the terms of the consumer credit termination and other conditions.
1.3. Special conditions – the conditions of this agreement, that could have been influenced by the Client by submitting the application of the Consumer credit via the internet or by filling out and signing the paper application at the branches of the Company. The following are considered as the Special conditions: The amount of the consumer credit, Consumer credit fee, the size and number of the monthly payments, maturity of the Consumer credit and other conditions that are specified in the section "Special conditions".
1.4. Consumer credit provider or the Company – NEO Finance, AB, legal entity code 303225546 , registered office A. Vivulskio 7, Vilnius, entered into the public list of the consumer credit providers and the public list of the mutual lending platform operators that are managed by the Bank of Lithuania. Consumer credit recipient – natural person with whom the Company concluded the Consumer credit agreement(s). In these relations the Company acts as the operator of the mutual lending platform. The Company acts on behalf of the lenders, i.e. funds belonging to lenders are lent under a consumer credit agreement.
1.5. The Client – natural person, who meets the criteria specified by the Company, and is permanently residing in the Republic of Lithuania, and who intends to exercise the right to obtain the Consumer credit and other rights that are provided under the Consumer credit agreement.
1.6. Consumer credit – Consumer credit that is granted to the Consumer credit recipient by the Company according to the specific conditions of the Consumer credit agreement.
1.7. Total price of the Consumer credit (Consumer credit fee) – all expenses, including the Interest, Brokerage fee, Agreement administration fee and any other fees that are related to the Consumer credit agreement. This price is calculated and specified in the Special conditions and only with respect to the Consumer credit that is granted in accordance with the Consumer credit application and does not include any expenses, that are related to the Consumer credits granted by the Company to the Consumer credit recipient prior to that or credits that will be granted in the future. The price is calculated with the assumption that Consumer credit recipient will perform all the obligations that arise out of this Agreement on time and properly, and does not include Interest, Compensatory Interest and other expenses that are paid and (or) compensated by the Consumer credit recipient to the Company for the period of the delay.
1.8. Total amount of the consumer credits – total amount of all Consumer credits of the specific Consumer credit recipient that are not yet repaid to the Company.
1.9. Total annual rate of the Consumer credit price – total price of the Consumer credit expressed in the amount of the annual percentage.
1.10. Repayable amount (Total amount payable by the Consumer credit recipient) – the sum of the Consumer credit and the Total price of the Consumer credit, that must be paid by the Client to the Company when the maturity of the Consumer credit expires. This amount is calculated by adding the Consumer credit fee to the Consumer credit amount that is specified in the application submitted by the Consumer credit recipient and transferred to the Special conditions of the Consumer credit agreement. The repayable amount is calculated with the presumption that the Consumer credit recipient will perform all obligations that arise from this Agreement properly and on time.
1.11. Consumer credit maturity – period, within which the Consumer credit recipient must have repaid to the Company the Repayable amount and other fees, if they originated due to the improper performance of the Agreement by the Consumer credit recipient. The counting of the Consumer credit maturity begins on the day of the Consumer credit funds payout and ends on the day of the final Monthly payment that is specified in the Special conditions of the Consumer credit agreement.
1.12. Monthly payment – specific amount of money paid by the Consumer credit recipient every month to the Company, it is comprised of the Consumer credit share that is being repaid and the share of the Consumer credit fee that is being paid. This amount is calculated by dividing the Repayable amount in equal parts that are being repaid to the Company during the whole period of the Consumer credit repayment. The amounts of the monthly payment and payment dates are set in the Special conditions of the Consumer credit agreement. Commission fee and Agreement administration fee are not included into the Monthly payment.
1.13. Consumer credit conditions – amount of the specific Consumer credit, Consumer credit maturity, Consumer credit price, Payment day, Payment size and other conditions that are specified in the Consumer credit agreement.
1.14. Payment – certain specific amount of money paid by the Consumer credit recipient or the third party to the Company under the specific Consumer credit agreement.
1.15. Interest – monetary expression of the annual fixed interest specified in the special conditions of the Consumer credit agreement, it must be paid by the Consumer credit recipient to the Company for using the amount of the Consumer credit. Calculation of the Interest begins from the day on which the Consumer credit is paid out to the Consumer credit recipient till the day when the whole Consumer credit is actually being returned to the Company, but not longer than until the end of the Consumer credit repayment period according to the Schedule. When calculating the Interest it will be held that a year has 360 (three hundred and sixty) calendar days, and a month has 30 (thirty) calendar days.
1.16. Consumer credit amount – Consumer credit amount that under the Consumer credit agreement is paid by the Company to the Consumer credit recipient. Maximum amount of the Consumer credit is agreed by the Company and the Consumer credit recipient in the Special conditions. The precise Consumer credit amount of which all fees that are paid by the Consumer credit recipient, is unilaterally submitted by the Company to the Consumer credit recipient in accordance with the terms specific in the paragraph 4.8 of the Consumer credit agreement. Consumer credit amount is calculated in money. Consumer credit is paid out in euros.
1.17. Overpayment – the paid amounts that were larger than were needed to cover the obligations of the Consumer credit recipient under the Consumer credit agreement or that were paid without basis.
1.18. Consumer credit repayment period – period from the Consumer credit reception day till the day of the Consumer credit repayment, or from a period of one Monthly payment till the period of another Monthly payment, specified in the Special conditions of this Consumer credit agreement.
1.19. Electronic channels – the transfer of information and performance of other actions over the internet or mobile phone.
1.20. User zone – the internet system of the Company on the Web page, where the Clients after the registration and signing up with the Identity verification means can perform the necessary actions for the conclusion of the Consumer credit agreement and obtain the information that is necessary for the performance, termination or cancellation of the Consumer credit agreement.
1.21. Party – the Company or the Consumer credit recipient.
1.22. Parties – the Company and the Consumer credit recipient together.
1.23. Annex(es) – integral part of the Consumer credit agreement, in which the Company and the Client agree on the interest rate, payment size, date, number of payments and other amendments of conditions.
1.24. Identity verification means – password created by the Client of the Company, email address of the Client and other means that are used to sign in to the Platform on behalf of the Client.
1.25. Web page – web page of the Company, the address of which is www.paskoluklubas.lt. The Web page can be called the Platform as well.
1.26. Schedule – Consumer credit repayment schedule, set in the annex of the Consumer credit agreement, according to which on the specified payment days and Monthly payments the Consumer credit recipient must pay the payable amounts to the Company. The Schedule is created by following the method of annuity. The Schedule is shared for the Consumer credit agreement and the Consumer credit agreement No. [number], concluded between the Company and the Consumer credit recipient. All payments that were received from the Consumer credit recipient are distributed proportionally according to the Schedule for payment for this Consumer credit agreement and Consumer credit agreement No. [number].
1.27. Schedule change service – a paid service where the Consumer credit recipient who is not late to make the Monthly payments under the Consumer credit agreement, avails itself of the right to change the monthly installment payment day. Consumer credit recipient Schedule change service shall not be applied more than once per calendar year.
1.28. Commission fee - it is the fee that is paid by the Consumer credit recipient to the Company for the peer-to-peer lending platform operator services provided by the Company (including, but not limited to, for the collection of Consumer credit beneficiary data from state registers and other databases, their processing and evaluation, as well as for the examination of the Consumer credit application and the preparation and formalization of all documents related to the Agreement) and is paid until the obligations under the Consumer credit agreement are fully fulfilled. The Commission fee is calculated according to 5.3.1 of the Consumer Credit Agreement and the specific amount of the Commission fee is indicated in the Special Conditions of the Consumer Credit Agreement.
1.29. Consumer credit conclusion day – the day, on which this Agreement is signed by both Parties, if the Parties signed the agreement on different days, the day on which the Agreement was signed by the second signing Party. The day on which the Party has signed this Agreement is specified in the time stamp, that is specified in the Consumer credit agreement.
1.30. Fund payout day – the day, on which the Company pays out the Consumer credit amount to the Consumer credit recipient. This day is no later than one calendar day from the time, when the Company submits the declaration to the Consumer credit recipient that it agrees to pay out the funds as it is specified in the paragraph 3.3.1. of the Consumer credit agreement.
1.31. Compensatory interest - a fixed amount of annual interest that the Consumer credit recipient must pay to the Company as compensation for failure to meet the term of the monetary obligation. Compensatory interest is considered to be the minimum loss incurred by the Company due to non-timely repayment of the Consumer Credit. The compensatory interest rate is equal to the Interest Rate provided for in the Special Conditions. Compensatory interest is calculated from the date of termination of the Consumer Credit Agreement or the end of the Consumer credit repayment period, whichever occurs first, and is calculated until the date when the entire Consumer Credit is actually repaid to the Company. For the purpose of calculating the compensatory interest, the year shall be deemed to have 360 (three hundred and sixty) calendar days and the month shall have 30 (thirty) calendar days. The payment of compensatory interest does not deprive the Company of the right to claim damages that are not covered by the Compensatory Interest specified in the Consumer Credit Agreement.
1.32. When interpreting this Consumer credit agreement, each document to the Consumer credit agreement and every additional transaction that is related to the Consumer credit agreement, the following provisions must be observed:
1.32.1. The titles of the individual chapters of the Consumer credit agreement are provided so that it would be easier to use the text of the agreement.
1.32.2. With respect to the situation that is present during the performance of this Consumer credit agreement, the words that are used in the text of the Consumer credit agreement in singular can have the meaning of plural and vice-a-versa.
1.32.3. The definitions that are listed in the chapter 1 of the Consumer credit agreement must be applied when fulfilling and interpreting the General and Special conditions of this Consumer credit agreement.
1.32.4. Any of the definitions that are specified in the chapter 1 of this Consumer credit agreement can have other meaning only in case if it is explicitly specified in the Consumer credit agreement.
2. Essence of the agreement
2.1. The parties agree to conclude the Consumer credit agreement under which the Company acquires the right to grant the Consumer credit to the Consumer credit recipient under the conditions that are specified in the Consumer credit agreement, and Consumer credit recipient undertakes to repay the Consumer credit that it received and pay all fees that are set in this Consumer credit agreement in accordance with the conditions of this Consumer credit agreement. The parties are aware that all amendments of the Consumer credit agreement, declarations and annexes made by the mutual agreement of the Parties or unilaterally by the Company, become the integral part of Consumer credit agreement and are binding to the Parties of the Consumer credit agreement.
2.2. If any conditions of the Consumer credit agreement become invalid and/or are in conflict with the legislation of the Republic of Lithuania, the remaining conditions of the Consumer credit agreement remain valid and invalid condition must be replaced.
3. Rights and obligations of the parties
3.1. During the Consumer credit agreement validity period the Company undertakes to grant the Consumer credits to the Consumer credit recipient, and Consumer credit recipient undertakes to repay the received Consumer credits to the Company and pay the Consumer credit fee.
3.2. The financial service of the Company is deemed to be provided, when the Consumer credit is transferred into the electronic money account specified by the Consumer credit recipient, held with the Company.
3.3. The Company undertakes to:
3.3.1. To submit to the Consumer credit recipient the unilateral Declaration that specifies, whether the Company agrees to pay out of the amount of the Consumer credit or a part thereof to the Consumer credit recipient or to refuses to do so, within fourteen calendar days from the conclusion of the Consumer credit. If the Company declares that it refuses to pay out the Consumer credit amount or a part thereof, this Agreement is deemed ended. If the Company declares that it agrees to pay the Consumer credit amount, the Company must pay the amount of the Consumer credit, specified in the Special conditions, to the Consumer credit recipient in one time and within one calendar day from the day of the declaration;
3.3.2. To publish on the Web page the information regarding the change of the service provision terms or Company details 5 (five) calendar days in advance;
3.3.3. Ensure the security of the personal information of the consumer credit recipient;
3.3.4. Fulfill other requirements that are specified in the consumer credit law of the Republic of Lithuania and other legislation.
3.4. The Company has the right to:
3.4.1. Transfer the claims that arise from the Consumer credit agreement to the third parties if that does not worsen the legal condition of the Consumer credit recipient.
3.4.2. Transfer to the third party the rights and obligations of the Consumer credit recipient that arise from the Consumer credit agreement, according to the agreement with the third party, if that is not in conflict with the Consumer credit law.
3.4.3. Pledge the claims that arise from the Consumer credit agreement to the third parties if that does not worsen the legal condition of the Consumer credit recipient.
3.4.4. Asses the credit worthiness of the Client in accordance with the consumer credit recipient credit worthiness assessment rules of the Company and completely or partially decline to grant the Consumer credit, if it is believed that the Client will be unable to fulfill his obligations under the Consumer credit agreement properly and on time.
3.4.5. Terminate the consumer credit agreement in accordance with the terms specified in the Consumer credit agreement.
3.5. Consumer credit recipient undertakes to:
3.5.1. Submit the correct information to the Company: name, last name, personal code, personal bank account number, receivable income, the size and sources thereof, owned obligations to the creditors, the size and types thereof, also other information that is related to the Consumer credit agreement concluded by the Parties that is requested by the Company. The consequences that occur to the Company and third parties due to the submission of the incorrect information, are incurred by the Client;
3.5.2. Pay the Monthly payments on time;
3.5.3. Not to disclose the Consumer credit recipient Identity verification means to any third parties;
3.5.4. Immediately notify the Company, if the third party became aware of or the Consumer credit recipient suspects that it can become aware of the Consumer credit recipient Identity verification means;
3.5.5. Not to transfer rights and obligations that arrise from the Consumer credit agreement without the written consent from the Company;
3.5.6. Immediately, but no later than within 3 (three) days, inform the Company if the Consumer credit recipient loses the possibility to use the email address or the phone number that Consumer credit recipient specifies to the Company;
3.5.7. Immediately, but no later than within 3 (three) days, notify the Company, if the name or the last name is changed;
3.5.8. Completely compensate direct and indirect losses incurred by the Company that were incurred due to the non-performance or improper performance of the obligations under the Consumer credit agreement;
3.5.9. Completely compensate the expenses incurred by the Company, that occurred due to non-performance or improper performance of the obligations under the Consumer credit agreement, when they are related to the judicial recovery of the debt and other expenses incurred by the Company.
3.6. Consumer credit recipient has the right to:
3.6.1. Terminate the consumer credit agreement in accordance with the terms specified by this Agreement.
3.6.2. Repay the Consumer credit ahead of time according to the manner specified in the Consumer credit agreement and exercise the right to the reduction of the Total price of the Consumer credit.
3.6.3. Cancel the Consumer credit agreement in accordance with the terms specified by this agreement;
3.6.4. Other rights that are granted by the legislation to the Consumer credit recipient.
3.7. Consumer credit recipient, who concluded the Consumer credit agreement, has the right to use the services of the Company that are provided via the Electronic channels. In accordance with the article 6.192 of the civil code of the Republic of Lithuania and the article 5 of the Law of the Republic of Lithuania on Electronic Identification and Electronic Operations Reliability Services, the Parties agree that all actions of the Consumer credit recipient and confirmations performed by using the Identity verification means, are deemed to be signed with the electronic signature and are equal to the transactions that are concluded in the written form and cause the same legal effect as the written documents that are approved by the signatures of the Consumer credit recipient or the Parties.
3.8. The Client and Consumer credit recipient can use the services of the Company in a manner specified by the Company and during the time that is advertised on the Web page.
4. Agreement conclusion and fund payout procedure
4.1. Only the persons, who registered on the Web page and have valid agreements for the electronic money account with the Company (i. e. have opened electronic money accounts), have the right to submit the application for the Consumer credit.
4.2. After signing into the Platform the Client specifies all information that is requested by the Company, submits the application for the granting of the Consumer credit by independently choosing the Special conditions that are specified on the Platform, or by choosing the Special conditions that are suggested by the Company. The Client familiarises itself with the standard information about the consumer credit, this Agreement, Special conditions and other provided information; after fulfilling all of that, the Client signs the Consumer credit agreement using the Identity verification means.
4.3. The Company signs this Agreement immediately after it is signed by the Consumer credit recipient.
4.4. This Agreement is deemed concluded only, if it is signed by both Parties. The Agreement signed by only one Party does not create the civil legal relations.
4.5. This Agreement is deemed concluded on the Agreement conclusion day.
4.6. If the Client meets the status of the Consumer credit recipient and is granted the Consumer credit, the Client status changes into the status of the Consumer credit recipient.
4.7. Within fourteen calendar days from the conclusion of the Agreement, the Company submits to the Consumer credit recipient the unilateral Declaration that specifies whether the Company agrees to payout the amount of the Consumer credit to the Consumer credit recipient or refuses to do so. If the Company declares that it refuses to payout the amount of the Consumer credit, this Agreement is considered as ended. If the Company declares that it agrees to payout the amount of the Consumer credit, the Company pays out the amount of the Consumer credit in a way that is specified in the paragraph 4.10 of the Consumer credit agreement.
4.8. The declaration of the Company to payout or not to pay out the amount of the Consumer credit, when it is specified in the paragraph 4.7 of the Consumer credit agreement, is the unilateral transaction that creates rights and obligations only for the Company and causes further performance of this Consumer credit agreement or its ending.
4.9. Consumer credit recipient agrees that the Company will begin to perform the Consumer credit agreement and will grant the Consumer credit to the Consumer credit recipient prior to the expiration of the Consumer credit agreement cancellation period.
4.10. The company undertakes to payout the amount of the Consumer credit or a part thereof that is specified in the Special conditions in a single payment in electronic money to the electronic money account of the Consumer credit recipient opened with the Company no later than on the Fund payout day.
4.11. The Parties agree that the Company is not responsible for the actions that were performed too late, if that happened due to the circumstances that could not have been anticipated and controlled by the Company.
5. Repayment of the consumer credit
5.1. The Consumer credit is repaid in instalments within the time limits and by observing other obligations that are specified in the Special conditions.
5.2. Consumer credit recipient must pay each month the repayable share of the credit, interest, Agreement administration fee and the Commission fee.
5.3. The Commission fee consists of and is calculated in the following order:
5.3.1. The amount specified in the Special Conditions of the Consumer credit agreement.
5.3.2. The brokerage fee is considered a one-time fee and is calculated when concluding the Consumer Credit Agreement, but is distributed to each monthly installment in accordance with the provisions of the Consumer Credit Law.
5.3.3. The Consumer credit recipient remains obligated to pay the Commission fee even if the Consumer Credit Agreement is terminated due to its non-performance (improper performance). In such a case, the Commission fee is considered the Company's, as the operator of a peer-to-peer lending platform, unreceived income (losses) that the Company reasonably expects to receive from the Consumer credit recipient in the proper execution of the Consumer credit agreement.
5.4. If the last day of the Monthly payment deadline is on weekend or a day of an official holiday, the payment day is deemed to be the day that goes after it. If the Payment day "x" does not exist in the current month, it is deemed that the Payment day in such case is the last calendar day of the current month.
5.5. The Consumer credit is being repaid in the currency that is the official currency of the Republic of Lithuania on the day of the repayment.
5.6. Consumer credit is being repaid only in the electronic money, Consumer credit recipient pays to the Company from the electronic money account of the Consumer credit recipient held with the Company, to the electronic money account of the Company held with the Company The numbers of the electronic money accounts of the Parties are specified in the Special conditions.
5.7. The parties agree and the Consumer credit recipient irrevocably accepts, that in case if the Consumer credit recipient has a debt obligation to the Company that is due and there are funds in the electronic money account opened in Consumer credit recipient's name with the Company, the Parties apply the offsetting of the mutual obligations and the Company deduces the amount of the electronic money from the electronic money account opened in Consumer credit recipient's name with the Company that is needed to cover the debt obligation of the Consumer credit recipient or a part thereof.
5.8. The Parties agree that Payments made to the Company by the Consumer credit recipient or the third party under this Agreement will be distributed in the following manner:
5.8.1. Firstly – for the costs related to the statement of claim;
5.8.2. Secondly – assigned for the Interest of the delayed payments (at the level of the schedule) forfeit
5.8.3. Thirdly – assigned for the Interest of the oldest overdue payments (at the contribution level), for the Consumer Credit (at the contribution level) and for Commission fee. At the level of installments, Interest is paid first, and the remaining amount of the installment is distributed to cover Commission fee and Consumer Credit.
5.9. After Consumer credit recipient repays the whole Repayable amount to the Company, the Company informs the Consumer credit recipient with the text message (SMS) or via email message of proper fulfillment of the Consumer credit agreement no later than within 24 hours.
5.10. Any discounts that are related to the expenses of the Consumer credit recipient (including, but not limited to the discounts for the interest, Agreement conclusion fee and other fees), that are applicable only during the limited period (i. e. as exclusively limited offers to the Company Clients), applicable only if the Consumer credit recipient performs the obligations under the Consumer credit agreement properly. If the Consumer credit recipient is performing the obligations under the Consumer credit agreement improperly, i. e. is late to pay even single Monthly payment for more than 30 (thirty days), the application of the discounts ceases for the remaining duration of the Consumer credit agreement from the 31 (thirty first) day of the delay.
6. Contractual liability
6.1. If the Consumer credit recipient fails to perform its obligation to pay the Monthly payment on time, the Interest that are specified in the Special conditions further are being calculated of the unrepaid share of the Monthly payment as the remuneration for the usage of the Consumer credit amount till the day of the complete repayment, but no longer than the Consumer Credit repayment term. The day of the complete repayment of the debt is deemed to be the working day of the Company, on which during the working hours of the Company the unpaid amount is credited into the banking account of the Company. The working time and working hours of the Company are provided in the Web page.
6.2. If the consumer credit recipient breaches the obligation to make the payments under the Consumer credit agreement on time and delays the payment for more than 30 (thirty) calendar days, the Company has the right to contact the debt recovery company for the brokerage for the brokerage in the recovery of debt (Consumer credit or a part thereof/Consumer credit fee or a part thereof/ periodical payment or a part thereof / forfeit or other amounts that are payable under the Consumer credit agreement).
6.3. If the Company violates the obligation to payout the funds of the Consumer credit on the Fund payout day, the Consumer credit recipient is entitled to 0.5 percent of late interest that are calculated of the amount the payout of which is overdue for every day of the delay.
6.4. The Company is not being held responsible for any non-performance or partial non-performance of the obligations under this Agreement and is not responsible for losses, if that happened due to the circumstances of the force majeure, also including the actions of the third parties, communication transfer, malfunctions of the electronic data exchange and payment systems, including internet banking as well, that occurred without the fault of the Company, and third parties due to whose actions the breach of the Consumer credit agreement occurred, are unrelated to the Company, and the Company was not able to anticipate their actions.
6.5. The liability that arises due to the failure to perform the obligations under the Consumer credit agreement or due to improper performance thereof, is deemed as the joint liability of the Consumer credit recipient and its spouse, unless, the personal Consumer being credit is granted, without the assessment of the income of the Consumer credit recipient's spouse. In case of the joint liability, the debt recovery can be aimed at the Consumer credit recipient or at the spouse of the Consumer credit recipient or at the joint property of the Consumer credit recipient and its spouse, at the choice of the Company, unless the Consumer credit recipient or its spouse provide the evidence, why the joint liability of the spouses cannot be applied. In case of the personal liability, the recover of the Debt can be aimed only at the property of the Consumer credit recipient, who is not performing its obligations.
6.6. In the event of a breach by the Consumer credit recipient of the obligation to make payments under this Consumer Credit Agreement on time and termination of the Consumer Credit Agreement with the Consumer credit recipient or expiration of the Consumer Credit Agreement, whichever occurs first, the Consumer credit recipient shall pay Compensatory Interest to the Company, as compensation for failure to meet the term of the monetary obligation before the date of full repayment of the Consumer credit.
6.7. If the Consumer credit recipient violates the obligation to make payments under the Consumer Credit Agreement on time and the Company applies to the court for debt award, the Parties agree that the Consumer credit recipient will be charged 5 (five) percent annual procedural interest from the date of litigation until full repayment of the debt awarded.
7. Consent to manage the personal information
7.1. The Client/ Consumer credit recipient agrees that during his registration in the Web page or when filling out the paper application and contacting the Company for the conclusion and amendment of the agreements of the Consumer credit or other services, also when the Company amends the agreements concluded with the Consumer credit recipient, the Company would receive, revise and manage the personal information specified in the paragraph 7.3. for the purposes of the person's identity identification, personal data accuracy verification, creditworthiness assessment, debt management, Consumer credit agreement conclusion, performance and control, and protection and security of Company rights and lawful interests. A client/ Consumer credit recipient agrees that his name, last name, personal code, types and amounts of the financial obligations in regards of which the negative decision was adopted, types, amounts and time limits of the current financial obligations, as well as the information regarding the performance of these obligations, also the information regarding the former financial obligations and the performance thereof, for the purposes of the credit worthiness evaluation would be received from all consumer credit institutions that operate in the republic of Lithuania or finance companies that participate in the information system "Infobankas" administered by "Creditinfo Lietuva" PJSC (company code 111689163) and the system of the credit office. Information about these Consumer credit institutions and financial companies are provided on the web page www.creditinfo.lt.
7.2. The Client/ Consumer credit recipient agrees that persons, who manage the personal information (Population registry service under the ministry of the interior of the Republic of Lithuania, national social insurance fund board under the ministry of the social security and work, "Creditinfo Lietuva" PJSC (company code 111689163), banks, other private or state companies, establishments or institutions), in cases that are specified in the paragraph 7.1 and at the request of the Company would provide the personal information that is specified in the paragraph 7.3.
7.3. In cases that are specified in the paragraph 7.1 the company receives and manages the following personal information: name, last name, personal code, citizenship, addresses of the declared and actual place of residence, phone number, mobile phone number, details of the identity documents, copy of the identity document, marital status, number of minor children and dependants, information regarding the competency, employer, employments, dismissals, engagement in economic or individual activity, the income from it, other receivable income, information regarding the declaring of the income tax, owned immovable and movable property, proprietary rights and their encumbrances, information regarding the obligations and debts to the Consumer credit and finance institutions, other legal and natural persons, Consumer credit rating, amount of debt, interest rate, amounts of other mandatory taxes and expenses, terms and time limits of the debt repayment, amount of the delayed payment and duration of the delays, settlement history and information, numbers of the bank accounts and (or) paying cards, and other information that is related to the listed one. The Client/ Consumer credit recipient agrees that his name, last name, personal code and the copy of the identity document would be transferred to other financial institutions that are properly registered as the mangers of the personal information, for the purposes of identity verification.
7.4. The Client/ Consumer credit recipient confirms that it had the opportunity to familiarise itself with the conditions of the personal information management, and has the following rights:
7.4.1. Familiarise with own information and inspect how it is managed, as well as demand to correct the wrong, inaccurate personal information.
7.4.2. Refuse that his personal information was managed for the purposes of the direct marketing.
7.4.3. The Client/Consumer credit recipient has the right to submit the demands to fix or destroy personal information or to cease the actions of the personal information management, in writing by sending the notice to the email address [email protected] or by arriving to the registered office of the Company.
7.4.4. The Company shall provide information on the Consumer credit recipient identity, contact details and credit history of the Consumer credit recipient in the event of a delay of more than 30 days (financial and property obligations and their fulfillment, debts and their payment), to the Credit Bureau “Creditinfo Lietuva” PJSC (company code: 111689163, address: A. Goštauto St. 40A, LT 01112 Vilnius, Lithuania, www.manocreditinfo.lt, tel .: (8 5) 2394131), as well as, after informing the Customer / Consumer Credit Recipient in accordance with the laws of the Republic of Lithuania, data controllers of other joint debtors, financial services companies and organizations, telecommunications companies, debt management companies and all third parties with a legitimate interest. The credit bureau handles and provides your information to third parties (financial institutions, telecommunications companies, insurance, electricity and utilities, merchants, etc.) for legitimate interests and purposes - assessing creditworthiness and managing indebtedness. When assessing creditworthiness, the person's characteristics are assessed automatically (profiling), which may affect your ability to conclude transactions in the future. Valuation automatically helps to lend responsibly, evaluating information provided by an individual, credit history, public information, and more. Automatic evaluation methods shall be reviewed regularly to ensure their fairness, efficiency and impartiality. Credit history data is processed for 10 years after the fulfillment of obligations. The borrower can access their credit history by contacting the Credit Bureau directly. You also have the right to request the rectification or erasure or restriction of the processing, and the right to object to the processing, to request human intervention in automatic decision-making, to express your views and challenge the decision, as well as the right to data portability. You can find out more about the implementation and restrictions of these rights, automatic assessment of properties (profiling) at www.manocreditinfo.lt. If the Borrower's rights are violated, the Borrower may contact the Data Protection Officer by e-mail. by e-mail at [email protected] or by the above-mentioned telephone or submit a complaint to the State Data Protection Inspectorate or a court.
7.5. The Company undertakes to ensure the security of the Client's personal information, implement proper technical and organisational measures to protect the personal information from the unlawful and/or accidental destruction, alteration, disclosure and from any other illegal management. All employees of the Company and its representatives undertake to protect the personal information of the Clients.
7.6. Client confirms that he was informed about the right to acquaint himself with his personal information and how it is managed after the client confirms his identity, i. e. receive the information from which sources and which of his personal information is collected, for what purpose they are managed, to whom they are provided, demand to correct or destroy his personal data, or to suspend the personal information management activity, except for the keeping, when personal information is managed without following the personal information legal protection law of the Republic of Lithuania, without specifying the reasons for the objection, do not agree to the management of the personal data for the purposes of the direct marketing, also has the right to object by specifying the motives for the objection to the management of his personal information for the lawful interest that is sought by the Company or the third party to whom Clients personal data is provided.
7.7. At the request of the Client the Company must inform the subject of the information about the termination of the actions of the management of his personal information or refusal to terminate the actions of the management of the information.
8. Validity, cancellation, termination of the consumer credit agreement and the conditions of its amendment
8.1. Consumer credit agreement becomes effective from the moment of its signing and is valid until the fulfillment of all obligations under the agreement.
8.2. Consumer credit agreement can be amended or appended only by the separate agreement of the Parties.
8.3. Consumer credit agreement can be terminated by the agreement of the Parties or unilaterally in cases that are specified in the Consumer credit agreement.
8.4. The Company has the right to unilaterally terminate the Consumer credit agreement without going to court and by sending the written notice to the Consumer credit recipient, if all of the following conditions are present:
8.4.1. The Consumer credit recipient is informed about the overdue payment by written hard copy notification;
8.4.2. The payment is overdue for more than one month and its amount is not smaller than 10 percent of the unrepaid amount of the Consumer credit or the payment is overdue for more than three consecutive months;
8.4.3. The overdue payment was not covered within two weeks from the delivery of the hard copy of the additional written notification to the Consumer credit recipient.
8.5. The notice about the unilateral termination of the Consumer credit agreement can be sent by mail, fax or email.
8.6. Termination of the Consumer Credit Agreement takes effect 5 (five) calendar days after the Consumer Credit Recipient has received the Company's notice of termination of the Consumer Credit Agreement or when such notification has become known to the Consumer Credit Recipient in another way. Before the expiration of the term for termination of the Consumer Credit Agreement, the Consumer Credit Recipient must pay all overdue installments (i.e. overdue payments), interest on overdue credit installments and arrears, if any.
8.61. If the Consumer Credit Recipient fails to pay off the debt within the stipulated period and the Consumer Credit Agreement termination takes effect, the Consumer Credit Recipient must return the entire amount of Consumer Credit taken, the Brokerage Fee and Interest for the use of Consumer Credit, calculated up to the effective date of the Consumer Credit Agreement termination, as well as any disbursements, if any . In addition, the Consumer Credit Provider undertakes to cover the Company's losses (lost income), which the Company reasonably expected to receive when the Consumer Credit Provider executes the Consumer Credit Agreement properly: Interest and Commission Fee calculated after the day of termination of the Consumer Credit Agreement.
8.7. Consumer credit recipient has the right to cancel the Consumer credit agreement within 14 (fourteen) days from the Consumer credit agreement conclusion day.
8.7.1. If the Consumer credit recipient wants to exercise the right to cancel the Consumer credit agreement, it must:
8.7.1.1. inform the Company about the cancellation by registered letter within 14 days from the day on which the Consumer credit was granted.
8.7.1.2. immediately, but no later than within 30 (thirty) calendar days from the day on which the notice regarding the cancellation of the Consumer credit agreement was sent to the Company, repay to the Company the Consumer credit and the Interest that accumulated from the day on which the Consumer credit was paid out till the day on which the consumer credit was repaid, i. e. the day on which the Repayable amount was credited into the electronic money account of the Company. This Interest is calculated on the basis of the Consumer credit Interest rate that is specified in this agreement.
8.8. Consumer credit recipient has the right to cancel the consumer credit agreement within 2 (two) calendar days from the day of the granting of the Consumer credit, without specifying the reason, and repay to the Company the whole amount of the Consumer credit that was received without paying Consumer credit fee.
8.8.1. In order to exercise the right that is provided in the paragraph 8.8 of this agreement, Consumer credit recipient must:
8.8.1.1. to repay to the Company the whole amount of the Consumer credit that was received within the set period of 2 (two) calendar days;
8.8.1.2. Immediately inform the Company about the repayment of the Consumer credit by email and/ or phone, in cases that are specified in this Consumer credit agreement.
8.9. Consumer credit recipient has the right to repay the whole Consumer credit or a part thereof prior to the deadline that is specified in the agreement and exercise the right to the reduction of the total price of the consumer credit, if the following conditions are satisfied:
8.9.1. Consumer credit recipient, who wants to repay the Consumer credit prior to the maturity, must contact the Company with the request, which specifies the precise date, when the advance repayment will be performed. The application must be submitted via email or by registered letter, or it must be submitted by arriving to the registered office of the Company. This request must be submitted no later than within 24 hours from the moment of the performed repayment, if the Recipient of the consumer credit did not submit it in advance.
8.9.2. The recipient of the Consumer credit must return a part or the whole Consumer credit on the day that is specified in the application. In case when the consumer credit recipient intends to repay a part or the whole Consumer credit on another day than is stated in the already submitted request, the consumer credit recipient must submit the new request with the revised date, and the previous request becomes invalid. If the terms that are specified in this paragraph are not adhered to, it is deemed that the recipient of the consumer credit failed to properly perform the condition specified in the paragraph 8.9.1.
8.9.3. In case when the Consumer credit or a part thereof that is being repaid in advance exceeds 2320 € during any twelve month period, the Company has the right to demand that Consumer credit recipient would pay the compensation that is equal to 0.5 percent of the Consumer credit part that is being repaid in advance, but no larger than the amount of the interest that would be paid by the Consumer credit recipient if the Consumer credit would be repaid on time that is specified in the Consumer credit agreement.
8.9.4. After repaying the whole Consumer credit or a part thereof in advance, Consumer credit recipient has the right to the reduction of the total price of the consumer credit, it is comprised of the Interest and expenses of the remaining maturity period of the Consumer credit agreement, calculated from the repayment of the Consumer credit or a part thereof.
8.9.5. If the Consumer credit recipient repays the whole Consumer credit or pays the whole Consumer credit fee in advance, but fails to inform the Company in a manner specified in the paragraph 8.9.1., the Consumer credit agreement is deemed to be performed properly and completed, and all amounts paid by the Consumer credit recipient are not considered to be the unjust enrichment.
8.10. When the Consumer credit recipient expresses the will to amend the Consumer credit agreement because he is unable to properly fulfill its obligations under the current Agreement(s) or will be unable to fulfill them in the future, the Parties can agree to amend the certain Special conditions into such that are no worse than the primary conditions and to sign the Annex(es) of the Consumer credit agreement for that purpose or to conclude a settlement agreement that solves the debt repayment issue in essence and the future litigation is prevented.
8.11. If the Consumer credit recipient submits the request to amend the conditions of the Consumer credit agreement in the User's zone, and the Company decides to grant the request, it is deemed that the Parties agreed on the amendment of the conditions of the Consumer credit agreement and confirmed them with the electronic signatures.
8.12. The declaration of the Company to the Consumer credit recipient that the Company refuses to pay the funds according to the Consumer credit agreement, in a way that is specified in the paragraphs 3.3.1 and 4.8 of the Consumer credit agreement, is not considered as the termination of the Consumer credit agreement. It is the basis for the ending of the Agreement by its proper performance. After such declaration the Consumer credit agreement ends and the Parties have no proprietary or intangible claims under this Agreement.
9. Final provisions
9.1. Disputes or other disagreements or claims that arise from this agreement or that are related to it are being resolved by negotiations. If there was no possibility to resolve the dispute or other disagreement by negotiations, or if one of the parties has decided that the resolution of the dispute or other disagreement is inexpedient, the dispute is being resolved by the court in accordance with the procedure specified by the legislation of the Republic of Lithuania.
9.1.1. If the Consumer credit recipient believes that the Company has violated his rights or the interests that are protected by the law, he must contact the Company by written complaint and state his demands.
9.1.2. The Company provides the Consumer credit recipient with the comprehensive motivates written response based on the documents. The extensive complaint examination procedure and time limits are specified in the Consumer credit recipient complaint examination rules of the Company that are posted on the Company web page and on the web page of the Bank of Lithuania.
9.1.3. If the response of the Company to the complain of the Consumer credit recipient does not satisfy the Consumer credit recipient or if the response was not received, the Consumer credit recipient has the right to contact the Bank of Lithuania (address Gedimino av. 6, LT-01121 Vilnius) no later than within three years from the possible violation.
9.2. All notices of the Parties to each other must be presented in writing. The parties agree that the notices sent to the other Party via the email address or text message (SMS) to the mobile phone number, that are specified by the Consumer credit recipient to the Company in the User's zone or in the paper application, are equal to the written hard copy notices.
9.2.1. The notice that was sent via email is deemed to be received after 12 hours pass after its sending.
9.2.2. The notice that was sent by text message (SMS) is deemed to be received after 12 hours pass after its sending.
9.2.3. The notice that was sent by registered mail is deemed to be received after 5 (five) days pass after its sending.
9.3. The Client agrees that the Company would send the notices via the automatic means of the electronic communication that do not require human interaction.
9.4. The Parties agree that the Law of the Republic of Lithuania is applicable to the interpretation of this Agreement.
9.5. The notices of the Company and of the Consumer credit recipient that are sent by the ordinary mail and email are sent to the addresses that were specified by the Parties. The information regarding the changing of the addresses of the Parties must be submitted in writing 2 (two) calendar days till the change of the aforementioned address.
9.6. If Consumer credit agreement is concluded in Lithuanian and English languages, and between Lithuanian and English texts of this Consumer credit agreement are any discrepancies, the Lithuanian text shall have priority.