Version of the General Terms valid from 15/12/2025
GENERAL TERMS AND CONDITIONS OF THE CONSUMER CREDIT AGREEMENT
1. Main definitions of this agreement
1.1. Consumer Credit Agreement – this agreement, the definition of which corresponds to the definition provided in the Law on Consumer Credit of the Republic of Lithuania, including its special and general terms, annexes, and all amendments and/or supplements, together with its special and general conditions and annexes, including all appendments and/ or amendments of this agreement.
1.2. General Terms – the provisions of this agreement that define the rights and obligations of the Consumer credit recipient and the Company, the procedure for granting and repaying the credit, legal consequences of default, and termination procedures. These apply to all agreements concluded under the Consumer Credit Agreement unless specifically amended.
1.3. Special Terms – provisions influenced by the Client when submitting the credit application online or at the Company’s branch. They include: loan amount, cost (fee), number and size of monthly payments, loan term, and other terms listed in the "Special Terms" section.
1.4. Consent for Disbursement of Consumer Credit – an annex to this agreement, which is concluded only in the case of refinancing of a Consumer Credit and the preparation of which the Client could influence by submitting a Consumer Credit application online or by filling out and signing a paper application at the Company's branches, or by specifying the specified data after the Company submits a statement to the Consumer Credit Recipient that it agrees to disburse funds, as provided for in clause 3.3.1 of the Consumer Credit Agreement.
1.5. Consumer Credit Provider / Company – NEO Finance, AB, legal entity code 303225546, registered on the public lists of consumer credit providers and peer-to-peer lending platform operators administered by the Bank of Lithuania. Contact details are available on the Company’s website. In these relations, the Company may act as a peer-to-peer lending platform operator, as well as a consumer credit provider. The Company primarily acts on behalf of lenders (investors), i.e. under a consumer credit agreement, funds belonging to the lenders are lent, however, under appropriate conditions, the Company may also act as a consumer credit provider (lending funds belonging to itself). The Special Terms and Conditions always clearly state on what basis the Company acts in that relationship with respect to each Client under the specific Special Terms – as a peer-to-peer lending operator or as a consumer credit provider.
1.6. Client / Consumer Credit Recipient – a natural person (consumer) who meets the criteria established by the Company, permanently residing in the Republic of Lithuania, who intends to exercise the right to receive Consumer Credit and other rights granted in the Consumer Credit Agreement, or a natural person with whom the Company has concluded a Consumer Credit Agreement(s).
1.7. Consumer Credit – Consumer credit granted by the Company to the Consumer Credit Recipient under specific Special Terms and Conditions, and the latter undertakes to repay the Consumer Credit to the Company.
1.8. Total Cost of Consumer Credit (Loan Fee) – all costs, including Interest, Agreement Conclusion and Administration Fees and any other fees related to the Consumer Credit Agreement. This price is calculated and indicated in the Special Terms and Conditions only in respect of the Consumer Credit granted in accordance with the Consumer Credit Application and does not include any costs related to the Consumer Credits granted by the Company to the Consumer Credit Recipient up to that time or credits granted in the future. The price is calculated assuming that the Consumer Credit Recipient will fulfill all obligations arising from this Agreement on time and properly and does not include Interest, penalties and other costs that the Consumer Credit Recipient pays and/or compensates the Company for the overdue period. The total cost of the consumer credit at the time of conclusion, amendment or extension of the Consumer Credit Agreement, excluding interest per day of Consumer Credit, may not exceed 0.04 percent of the Total Amount of the Consumer Credit.
1.9. Total Amount of Consumer Credit – the total amount of all Consumer Credits not yet repaid to the Company by a specific Consumer Credit recipient.
1.10. Annual Percentage Rate (APR) – total cost of Consumer Credit, expressed in annual percentage rate.
1.11. Repayable Amount (Total payable amount by Client) – the amount of the Consumer Credit and the Total Consumer Credit Price that the Customer must pay to the Company upon the expiration of the Consumer Credit repayment term. This amount is calculated by adding the Consumer Credit Fee to the Consumer Credit Amount specified in the application submitted by the Consumer Credit Recipient and transferred to the Special Terms and Conditions of the Consumer Credit Agreement. The refundable amount is calculated assuming that the Consumer Credit Recipient will fulfill all obligations arising from this Agreement in a timely and proper manner.
1.12. Repayment Term – the term within which the Consumer Credit Recipient must pay the Company the Repayable Amount and other fees, if they arose due to the Consumer Credit Recipient's improper performance of the Agreement. The Consumer Credit Repayment Term begins to be calculated from the date of disbursement of funds and ends on the date of the last Monthly Payment, as set out in the Special Terms and Conditions of the Consumer Credit Agreement.
1.13. Monthly Installment – a specific amount of money consisting of the refundable portion of the Consumer Credit and the paid portion of the Consumer Credit fee, which the Consumer Credit Recipient pays to the Company every month. This amount is calculated by dividing the Repayable Amount into equal installments, which are returned to the Company every month during the entire Consumer Credit repayment period. The monthly installment amounts and payment terms are set out in the Special Terms and Conditions of the Consumer Credit Agreement.
1.14. Payment – a specific amount of money has been paid to the Company by the consumer credit recipient or a third party under a specific consumer credit agreement.
1.15. Interest – the annual fixed interest rate set out in the special terms and conditions of the Consumer Credit Agreement, expressed in money, which the Consumer Credit Recipient must pay to the Company for the use of the Consumer Credit amount. Interest is calculated from the date of disbursement of the Consumer Credit to the Consumer Credit Recipient until the date on which the entire Consumer Credit or the credit portion of the Monthly Installment is actually repaid to the Company, but no later than until the end of the Consumer Credit repayment term in accordance with the Schedule or the termination of the Consumer Credit Agreement with the Consumer Credit Recipient, whichever occurs first. When calculating Interest, it will be assumed that a year has 360 (three hundred and sixty) calendar days, and a month has 30 (thirty) calendar days.
1.16. Loan Amount (Consumer credit amount) – the amount of consumer credit that the Company pays to the Consumer Credit Recipient under the Consumer Credit Agreement. The Company and the Consumer Credit Recipient agree on the maximum amount of Consumer Credit in the Special Terms. The Company unilaterally provides the Consumer Credit Recipient with the disbursed Consumer Credit amount, from which all fees paid by the Consumer Credit Recipient are calculated, in accordance with the procedure specified in clause 4.7 of the Consumer Credit Agreement. The Consumer Credit amount is calculated in money. The Consumer Credit is disbursed in euros.
1.17. Overpayment – amounts paid in excess of what is necessary to cover the Consumer Credit Recipient's obligations under the Consumer Credit Agreement or paid without justification.
1.18. Electronic Channels – transmitting information and performing other actions via the Internet or mobile phone.
1.19. User Account – The Company's online system on the Website, where Customers (users of the Company's services) who have registered and logged in with Identity Verification means can perform the necessary actions to conclude a Consumer Credit Agreement and obtain information necessary for the execution of the Consumer Credit Agreement, its termination or cancellation. Additionally, in the User Account, the Consumer Credit Recipient can pay installments, change contact details, submit a request and/or use other electronic services of the Company.
1.20. Party – either the Company or the Client.
1.21. Parties – both the Company and the Client.
1.22. Annex (-es) – an integral part of the Consumer Credit Agreement, in which the Company and the Client agree on changes to interest rates, payment amount, date, number of installments and other terms.
1.23. Authentication Tools – The password created by the Client, the Client's email address and other means used to log in to the Platform on behalf of the Client.
1.24. Website / Platform – the Company’s website at www.paskoluklubas.lt. In this agreement Website can also be called a Platform.
1.25. Repayment Schedule – The consumer credit repayment schedule, set out in the Appendix to the Consumer Credit Agreement, according to which the Consumer Credit Recipient must pay the amounts due to the Company on the specified payment dates and in Monthly Installments. The schedule is drawn up in accordance with the annuity method, which means that a portion of the Consumer Credit is repaid and the Interest is calculated in such a way that the Monthly Installments of each month are equal until the Consumer Credit is fully repaid.
1.26. Schedule Change Service – this is a paid service when the Consumer credit Recipient, who is not late in making Monthly Payments under the Consumer Credit Agreement, exercises the right to change the last day of the monthly payment due date.
1.27. Commission Fee – is the remuneration paid by the Consumer Credit Recipient to the Company for the services provided by the Company as a peer-to-peer lending platform operator (including, but not limited to, for identifying the Consumer Credit Recipient, collecting data from state registers and other databases, processing and evaluating (analyzing) them, as well as for examining the Consumer Credit application (creditworthiness assessment), providing information about the financial product and the conditions related to it, ensuring electronic communications and data transmission to platform users, technical and consulting assistance to platform users, communication with lenders, distribution of funds between the Borrower(s) and the lender(s), as well as communication with third parties, when necessary for the proper performance of services, and preparation and execution of all documents related to the Agreement), paid until the full fulfillment of obligations under the Consumer Credit Agreement.
1.28. Agreement Date – the date on which this Agreement was signed by both Parties or, if the Parties signed the Agreement on different dates, the date on which this Agreement was signed by the second Party to sign. The date on which a Party signed this Agreement is indicated in the time stamp displayed in the Consumer Credit Agreement.
1.29. Disbursement Date – the day on which the Company pays the Consumer Credit Amount to the Consumer Credit Recipient. If the Client, after the Company has submitted to him a statement that it agrees to pay out the funds, as specified in clause 3.3.1. of the Consumer Credit Agreement, exercises the right provided for in clause 3.6.2. of the Agreement and has specified the amounts specified in the Consent to Pay Out the Consumer Credit, the Company shall pay the Consumer Credit Amount to the Consumer Credit Recipient no later than the next business day. If the Consumer Credit Recipient, after the Company has submitted to the Consumer Credit Recipient a statement that it agrees to pay out the funds, as specified in clause 3.3.1. of the Consumer Credit Agreement, within the term specified in clause 3.6.2., has not specified the amounts specified in the Consent to Pay Out the Consumer Credit, the Company shall pay the Consumer Credit Amount to the Consumer Credit Recipient no later than the next business day.
1.30. Claim Right – the lender's right of claim (creditor's claim) against the Consumer Credit Recipient under the Agreement, the amount of which is specified in the Special Conditions, with all rights related to it or arising from it.
1.31. Cooling-off Period – a period of 2 (two) calendar days, which begins from the date of disbursement of the Consumer Credit to the Client under the Consumer Credit Agreement and during which the Client, without giving a reason, may withdraw from the Consumer Credit Agreement and return the Consumer Credit disbursed to him to the Company without paying Interest, any other fees, costs or compensations.
1.32. Payment Date – the date on which the Customer must pay the Monthly Payment and this date is specified in the Special Conditions and the Repayment Schedule.
1.33. Multiple Borrowers (Co- borrowers) – cases where the same Consumer Credit Agreement with the Company is concluded by two or more Clients, each of whom is jointly and severally liable under the Agreement, which means that the requirement to fulfill all obligations under the Consumer Credit Agreement may be directed to any of the co-borrowers who have concluded such an agreement.
1.34. When interpreting this Consumer Credit Agreement, each document attached to the Consumer Credit Agreement and each additional transaction related to the Consumer Credit Agreement, the following provisions must be observed:
1.34.1. The titles of individual sections of the Consumer Credit Agreement are provided to facilitate the use of the text of the Consumer Credit Agreement.
1.34.2. Taking into account the situation arising during the execution of this Consumer Credit Agreement, the words in the text of the Consumer Credit Agreement presented in the singular may also have a plural meaning, and vice versa.
1.34.3. The terms set out in Section 1 of this Consumer Credit Agreement shall be applied when implementing and interpreting the General and Special Terms and Conditions of this Consumer Credit Agreement.
1.34.4. Each term provided in Section 1 of this Consumer Credit Agreement may have a different meaning only if specifically specified in the Consumer Credit Agreement.
2. Purpose (object) of the Agreement
2.1. The Parties agree to conclude a Consumer Credit Agreement, under which the Company acquires the right to grant the Consumer Credit Recipient Consumer Credit in accordance with the terms and conditions set out in the Consumer Credit Agreement, and the Consumer Credit Recipient undertakes to repay the Consumer Credit received and pay the Company all fees set out in this Consumer Credit Agreement, in accordance with the terms and conditions of this Consumer Credit Agreement. The Parties are aware that all amendments, statements and annexes to the Consumer Credit Agreement made by mutual agreement of the Parties or unilaterally by the Company become an integral part of the Consumer Credit Agreement and have binding force for the Parties to the Consumer Credit Agreement.
2.2. If any of the terms of the Consumer Credit Agreement become invalid and/or contrary to the laws of the Republic of Lithuania, the other terms of the Consumer Credit Agreement shall remain valid, and the invalid terms shall be replaced.
3. Rights and Obligations of the Parties
3.1. During the validity of the Consumer Credit Agreement, the Company undertakes to provide Consumer Credits to the Consumer Credit Recipient, and the Consumer Credit Recipient undertakes to return the received Consumer Credits to the Company and pay the Consumer Credit Fees.
3.2. The Company's financial service is considered provided when the Consumer Credit is transferred to the electronic money account specified by the Consumer Credit Recipient, opened with the Company.
3.3. The Company is obligated to:
3.3.1. Within fourteen calendar days from the date of conclusion of the Agreement, submit to the Consumer Credit Recipient a unilateral statement indicating whether the Company agrees to pay the Consumer Credit amount to the Consumer Credit Recipient or refuses to do so. If the Company declares that it refuses to pay the Consumer Credit amount, this Agreement shall be deemed terminated. If the Company declares that it agrees to pay the Consumer Credit amount, the Company must pay the Consumer Credit amount provided for in the Special Terms and Conditions to the Consumer Credit Recipient in one lump sum no later than one business day from the end of the term specified in clause 3.6.2;
3.3.2. To publish on the Website, 5 (five) calendar days in advance, information about any changes to the procedure for providing services or the Company's details;
3.3.3. Ensure the protection of the personal data of the Consumer Credit Recipient;
3.3.4. To comply with other requirements set out in the Law on Consumer Credit of the Republic of Lithuania and other legal acts.
3.4. The Company has a right to:
3.4.1. To assign claims arising from the Consumer Credit Agreement to third parties, provided that this does not worsen the legal position of the Consumer Credit Recipient.
3.4.2. To pledge claims arising from the Consumer Credit Agreement to third parties, if this does not worsen the legal position of the Consumer Credit Recipient.
3.4.3. Assess the Client's creditworthiness in accordance with the Company's rules for assessing the creditworthiness of consumer credit recipients and fully or partially refuse to grant Consumer Credit if it believes that the Client will not be able to timely and properly fulfill his/her obligations under the Consumer Credit Agreement.
3.4.4 For the purposes of disbursing the consumer credit and implementing other terms and conditions of this Agreement, the Company has the right to verify at any time (upon written/oral request by the Company, the Consumer Credit Recipient must provide the requested information within the time limit set by the Company), including but not limited to:
3.4.4.1. The truthfulness and accuracy of the information provided by the consumer credit recipient;
3.4.4.2. The use of the Consumer credit for its intended purpose;
3.4.4.3. Other information that is significant for the performance of the Consumer Credit Agreement.
3.4.5. To terminate the consumer credit agreement in accordance with the procedure established in the Consumer Credit Agreement.
3.4.6. to transfer the data of the Consumer Credit Provider and the fact that the latter does not fulfill and/or improperly fulfills its obligations to the Company, to persons managing the joint debtor databases, if the Monthly Payment or part thereof is delayed for more than 30 (thirty) calendar days. To which specific persons and what data will be transferred, is specified in more detail in the Company's privacy policy.
3.5. The Client undertakes to:
3.5.1. Provide the Company with correct data: name, surname, personal code, personal bank account number, income, its amount and sources, existing liabilities to creditors, their amount and type, as well as other data requested by the Company related to the Consumer Credit Agreement concluded by the Parties, i.e. all other information requested by the Company that may be of essential importance for the conclusion, execution, validity and termination of the Consumer Credit Agreement. When the Consumer Credit is not intended to meet personal needs, provide the same data of the spouse (co- borrower). The consequences arising for the Company and third parties due to the provision of incorrect data shall be borne by the Consumer Credit Recipient. Fully compensate for damages or costs incurred due to non-performance of the Consumer Credit Agreement;
3.5.2. Pay Monthly Installments on time;
3.5.3. Not disclose the Consumer Credit Recipient’s Identity Verification Measures to any third party;
3.5.4. Immediately inform the Company if a third party becomes aware of or the Consumer Credit Recipient suspects that the Consumer Credit Recipient’s Identity Verification Measures may become aware of;
3.5.5. Not to transfer his/her rights and obligations arising from the Consumer Credit Agreement without the Company's written consent;
3.5.6. Immediately, but no later than within 3 (three) days, to inform the Company of the loss of the possibility (or change) of using the Consumer Credit Recipient's e-mail address or telephone number specified to the Company. The Company has the right to request evidence confirming the circumstances of this condition;
3.5.7. In the event of a change in the name, surname, address of residence, place of work, or other personal data, immediately, but no later than within 3 (three) days, to inform the Company. The Company has the right to request evidence confirming the circumstances of this condition;
3.5.8. A Consumer Credit Recipient who fails to fulfill his obligations under the Consumer Credit Agreement or performs them improperly must cooperate with the Company, contact it and inform it about his deteriorated financial situation, actively communicate and, together with the Company, seek ways to resolve the difficult financial situation;
3.5.9. Fully compensate the Company for direct and indirect losses incurred due to failure to fulfill or improper fulfillment of obligations under the Consumer Credit Agreement;
3.5.10. Fully compensate the Company for expenses incurred due to failure to fulfill or improper fulfillment of obligations under the Consumer Credit Agreement, related to judicial debt collection and other expenses incurred by the Company.
3.6. The Client has the right to:
3.6.1. To terminate the Consumer Credit Agreement in accordance with the procedure established by this Agreement;
3.6.2. Within 2 (two) calendar days after the Company has submitted to it a statement that it agrees to pay out the funds, as specified in clause 3.3.1. of the Consumer Credit Agreement, to adjust the amounts provided for in the Consumer Credit Disbursement Consent;
3.6.3. To repay the Consumer Credit before the specified deadline in accordance with the procedure established by the Consumer Credit Agreement and to exercise the right to a reduction in the Total Consumer Credit Price. The Parties expressly agree and confirm that when repaying the Consumer Credit before the specified deadline, the Commission Fee agreed in clause 1.27 of the General Terms and Conditions shall be paid to the Consumer Credit Recipient Company in full, but not exceeding the limit set in clause 1.8. of the General Terms;
3.6.4. To withdraw from the Consumer Credit Agreement during the Decision Period in accordance with the procedure established by this Agreement;
3.6.5. Other rights granted to the Consumer Credit Recipient by legal acts;
3.6.6. The Consumer Credit Recipient, having concluded the Consumer Credit Agreement, has the right to use the services provided by the Company via Electronic Channels.
4. Procedure for concluding a agreement and disbursing Consumer Credit
4.1. Only those persons who are registered on the Website and have valid contracts for an electronic money account (i.e. have opened electronic money accounts) with the Company have the right to submit a Consumer Credit application.
4.2. The Client, having logged in to the Platform, provides all the information requested by the Company, submits an application for the granting of Consumer Credit, independently choosing the Special Conditions specified on the Platform, or choosing the Special Conditions offered by the Company. The Client familiarizes himself with the standard information on Consumer credit, this Agreement, the Special Conditions and other information provided; having done all this, the Client signs the Consumer Credit Agreement using Identity Verification means.
4.3. The Company shall sign this Agreement immediately upon its signing by the Consumer Credit Recipient.
4.4. This Agreement shall be deemed concluded only if signed by both Parties. An Agreement signed by only one Party shall not create civil legal relations.
4.5. This Agreement shall be deemed to have entered into force on the date of conclusion of the Agreement.
4.6. If the Client meets the status of a Consumer Credit Recipient and is granted a Consumer Credit, the Client’s status shall change to the status of a Consumer Credit Recipient.
4.7. Within 14 (fourteen) calendar days from the date of conclusion of the Agreement, the Company shall submit to the Consumer Credit Recipient a unilateral statement indicating whether the Company agrees to pay the Consumer Credit Amount to the Consumer Credit Recipient or refuses to do so. If the Company declares that it refuses to pay the Consumer Credit Amount, this Agreement shall be deemed terminated. If the Company declares that it agrees to pay the Consumer Credit Amount, the Company shall pay the Consumer Credit Amount, as specified in clause 4.10 of the Consumer Credit Agreement.
4.8. The Company’s statement to pay the Consumer Credit amount or not to pay it, when specified in clause 4.7 of the Consumer Credit Agreement, is a unilateral transaction that creates rights and obligations only for the Company and determines the further performance or termination of this Consumer Credit Agreement.
4.9. The Consumer Credit Recipient agrees that the Company will begin to perform the Consumer Credit Agreement and provide the Consumer Credit to the Consumer Credit Recipient before the expiration of the Consumer Credit Agreement withdrawal period.
4.10. The Company undertakes to pay the Consumer Credit amount specified in the Special Terms, in the Consumer Credit Disbursement Consent, in accordance with the procedure provided for, no later than the date of disbursement of funds (Consumer Credit).
4.11. The Parties agree that the Company is not liable for actions performed late if this occurred due to circumstances that the Company could not foresee and control.
4.12. The Client agrees that the Company may refuse to pay out the credit if:
4.12.1. The Client has provided the Company with information that, in the Company's opinion, is false, inaccurate or misleading, i.e. the Client has provided false or knowingly incorrect circumstances about himself, his spouse, his or his family's financial situation;
4.12.2. The Client has violated the terms of this Consumer Credit Agreement or any other terms and conditions agreed upon with the Company;
4.12.3. The Company suspects unauthorized or unlawful use of personal data or there is reason to believe that the Client is involved (knowingly or unknowingly, when third parties unlawfully use the Client's data) in possible fraud, money laundering, terrorist financing or other criminal or illegal activities;
4.12.4. the Customer's creditworthiness changes, circumstances emerge confirming that the Consumer Credit will not be repaid on time and properly, or other material circumstances emerge that substantially impair the Customer's ability to fulfill the obligations provided for in the Consumer Credit Agreement (i.e. the information provided resulted in an incorrect creditworthiness assessment).
4.13. If the Client selects the Credit for refinancing purposes, the Company transfers the Consumer Credit funds directly to the consumer credit provider whose consumer credit the Company is refinancing.
5. Consumer credit repayment
5.1. The Consumer credit is repaid in installments in accordance with the terms and other obligations specified in the Special Terms.
5.2. The Consumer Credit Recipient must pay the repaid credit portion, interest, and the Commission Fee every month.
5.3. The Commission Fee is considered a one-time fee and is calculated when concluding the Consumer Credit Agreement but is distributed to the Consumer Credit Recipient for each monthly installment, in accordance with the provisions of the Law on Consumer Credit. The amount of the Commission Fee is specified in the Special Terms of the Consumer Credit Agreement. The Commission Fee is calculated for the services provided by the Company, including, but not limited to, the service of collecting and evaluating data from registers, determining the possibility of insolvency and finding persons who wish to finance the loan (lenders), i.e. the intermediation service.
5.4. If the last day of the Monthly Payment term coincides with a non-working day or an official holiday, the payment day is considered the following working day. If the Payment Day “x” does not exist in the current month, it is considered that the Payment Day in such case is the last calendar day of the current month.
5.5. The Consumer credit is repaid in the official currency of the Republic of Lithuania on the Repayment date.
5.6. The Consumer credit is repaid only in electronic money, the Consumer Credit Recipient replenishes his/her electronic money account opened with the Company, and upon the Monthly Payment date, the amount of the Monthly Payment is automatically debited from the Consumer Credit Recipient’s electronic money account. When replenishing his/her electronic money account, the Consumer Credit Recipient must indicate in the purpose of the payment order the number of the Consumer Credit Agreement (for example, "K123456789") for which he wishes to pay the Installment (or Indebtedness). If the purpose of the payment (i.e. the agreement number) is not indicated or is indicated unclearly (inaccurately), the Company has the right to set off the payment taking into account the amount paid, the time of payment and other circumstances according to which the will of the Client can be determined. Monthly installments may also be paid in other ways specified by the Company.
5.7. The Consumer Credit Recipient authorizes (instructs) the Company to distribute the Consumer Credit Recipient's funds in the Consumer Credit Recipient's account to the Lenders to the electronic money accounts belonging to the lenders.
5.8. The Parties agree and the Consumer Credit Recipient irrevocably agrees that in such a case, if the Consumer Credit Recipient has a debt obligation to the Company, the payment term of which has expired, and there are funds in the electronic money account opened in the name of the Consumer Credit Recipient with the Company, the Parties shall apply the netting of mutual obligations and the Company shall debit the electronic money from the electronic money account opened in the name of the Consumer Credit Recipient with the Company as much as is necessary to cover the Consumer Credit Recipient's debt obligation or part thereof. This provision also applies in cases where, after the reduction of the Total Consumer Credit Price in accordance with clause 9.12 of the General Terms and Conditions, other costs related to the consumer credit agreement are recalculated and the Customer acquires counterclaims against the Company.
5.9. The Parties agree that the Payments paid by the Consumer Credit Recipient or a third party to the Company under this Agreement will be distributed in the following order:
5.9.1. First row – allocated to expenses related to the statement of the requirement to fulfill the obligation;
5.9.2. Second row – allocated to interest on the overdue part of the credit (at the schedule level), penalties.
5.9.3. Third row – allocated to the Interest of the oldest overdue installments (at the installment level), the Consumer Credit (at the installment level) and the part of the Commission Fee. At the installment level, the Interest is paid first, and the remaining installment amount is distributed to cover the Commission Fee and the Consumer Credit.
5.10. After the Consumer Credit Recipient has paid the full Repayable Amount to the Company, the Company shall, no later than within 24 (twenty-four) hours, inform the Consumer Credit Recipient by SMS or e-mail about the proper execution of the Consumer Credit Agreement.
5.11. Any discounts related to the Consumer Credit Recipient’s expenses (including, but not limited to, discounts on Interest and other fees), which are applicable only for a specified period (i.e. as exclusive limited-term offers to the Company’s Clients), shall apply only if the Consumer Credit Recipient properly fulfills its obligations under the Consumer Credit Agreement. If the Consumer Credit Recipient improperly fulfills its obligations under the Consumer Credit Agreement, i.e. is late in paying at least one Monthly Installment for more than 30 (thirty) days, the discounts shall not apply for the entire further period of the Consumer Credit Agreement from the 31st (thirty-first) day of delay.
5.12. If the Consumer Credit Recipient fails to fulfill the obligation to pay the Monthly Installment on time, interest on the overdue part of the credit shall continue to be calculated as remuneration for using the Consumer Credit amount until the date of full payment of the debt, but no longer than until the end of the Consumer Credit repayment term according to the Schedule or termination of the Consumer Credit Agreement, depending on which event occurs earlier. The date of full payment of the debt shall be considered a business day of the Company, on which the amount not paid on time during the Company’s working hours is credited to the Company’s bank account. The Company’s working hours and working hours are provided on the Website.
6. Multiple consumer credit recipients (co- borrowers)
6.1. If the Agreement with the Company is concluded by a plurality of persons, i.e. 2 (two) or more co- borrowers, the conditions set out in this Section shall also apply to them:
6.1.1. The terms and conditions of the Consumer Credit Agreement shall apply to all Clients (co- borrowers).
6.1.2. Clients (co- borrowers) shall receive the Consumer Credit all together (jointly), however, the Consumer Credit shall be transferred only to the electronic money account of the co- borrowers who initiated the conclusion of the Consumer Credit Agreement. By signing the Consumer Credit Agreement, the Clients (co- borrowers) confirm that they agree that the disbursement of the Consumer Credit under this condition to the account of one of them is acceptable to them and meets their agreed interests, therefore, the Company is not responsible for how the co-borrowers will distribute the amount of the received Credit among themselves after the Credit is transferred to the account of the co- borrowers who initiated the conclusion of the Consumer Credit Agreement.
6.1.3. The liability of the Clients (co- borrowers) under the Consumer Credit Agreement is joint and several. This means that the Company has the right to demand that all or part of the obligations arising from the Consumer Credit Agreement be fulfilled by all Clients (co- borrowers) jointly or by any of them separately.
6.1.4. Proper repayment of the Consumer Credit is the joint and several liability of the co- borrowers and the agreements between the co- borrowers do not affect the amount of the Monthly Payments or the relationship with the Company. This means that the co- borrowers must pay the entire Monthly Payment without dividing it into parts according to a separate mutual agreement. Analogous rules apply in the case of early (full or partial) repayment, therefore, the co- borrowers who wish to exercise the rights granted to them by legal acts must fully fulfill all obligations towards the Company. The account of a co- borrowers who is not the initiator of the Consumer Credit Agreement contains information about the joint Credit - payment schedule, payment details, contacts regarding early repayment or payment deferral.
6.1.5. The Parties agree that the joint and several obligation after the death of one Consumer Credit Recipient shall not be divided among his heirs and the heirs of the deceased together with the surviving co-borrowers shall be liable to the Company as joint and several debtors. Each Consumer Credit Recipient (co- borrowers) shall be liable to the Company with all of his assets for the obligations to repay the Consumer Credit granted by the Company, to pay interest, as well as for the failure to fulfill other obligations provided for in the Consumer Credit Agreement, regardless of fault.
6.1.6. The Parties agree that the Company's obligation provided for in the Consumer Credit Agreement to provide any notifications, documents, information to the Consumer Credit Recipients (co- borrowers) will be deemed to have been properly fulfilled if the Company provides the notification, documents, information provided for in the Agreement only to one of the co- borrowers - the one who initiated the conclusion of the Consumer Credit Agreement. In such a case, the Consumer Credit Recipient, having received the relevant notification, documents and information, undertakes to duly notify the other co-borrowers thereof and to enable him to familiarize himself with the content of the received correspondence.
6.1.7. The Parties also agree that any of the co- borrowers has the right to submit any notifications, documents, information of the Consumer Credit Recipients (co- borrowers) to the Company provided for in the Consumer Credit Agreement, and in such case, the Company has the right to assume (believe) that such notifications, documents, information submitted by one of the co- borrowers are correct, correspond to the actual circumstances, are valid and reasonably submitted. All Consumer Credit Recipients (co- borrowers) confirm that they grant each other the relevant right.
6.1.8. Repayment of the Monthly Installments, or Indebtedness, of the co- borrowers must be carried out in accordance with the procedure specified in clause 5.6 of these General Terms and Conditions. The account of a co- borrowers who is not the initiator of the Consumer Credit Agreement contains information about the joint Credit – payment schedule, payment details, contacts regarding early repayment or payment deferral, therefore the latter Co- borrowers also has the right to make payments under the joint Consumer Credit Agreement using the instructions specified in his account (indicating the Consumer Credit Agreement number and other information in the purpose of the payment order). The Company will not be held liable for improper actions (errors, mutual disagreements or mutual requirements) of the co-debtors when repaying their joint Credit Monthly Installments or Arrears.
6.1.9. All other terms and conditions of the Consumer Credit Agreement apply to all co-borrowers in full.
7. Contractual liability
7.1. If the Consumer Credit Recipient violates the obligation to make payments under the Consumer Credit Agreement on time, the Company has the right to apply penalties in the amount of 0.05 percent of the total overdue amount for each day of overdue payment, but not longer than 180 (one hundred and eighty) calendar days.
7.2. If the Consumer Credit Recipient violates the obligation to make payments under the Consumer Credit Agreement on time and delays making a payment for more than 30 (thirty) calendar days, the Company has the right to contact a debt collection company for mediation in recovering the debt (Consumer Credit or part thereof/Consumer Credit Fee or part thereof/periodic payment or part thereof/compensatory interest or other amounts payable under the Consumer Credit Agreement).
7.3. If the Company violates its obligation to pay the Consumer Credit funds on the Disbursement Date, the Consumer Credit Recipient is entitled to 0.05 percent. interest on late payment, which is calculated from the overdue amount for each day of delay.
7.4. The Company is not held liable for any failure to fulfill or partial failure to fulfill any obligations under this Agreement and is not liable for losses if this occurred due to force majeure circumstances, including due to the actions of third parties, communication transmission, electronic data exchange and payment systems, including online banking, which occurred through no fault of the Company, and the third parties, due to whose actions the Consumer Credit Agreement was violated, are not related to the Company, and the Company could not have foreseen their actions.
7.5. Liability arising from non-performance or improper performance of the obligations established by the Consumer Credit Agreement shall be considered as joint and several liability of the Consumer Credit Recipient and his/her spouse (or co-borrower), except if a personal Consumer Credit is granted without assessing the income of the Consumer Credit Recipient's spouse. In the case of joint and several liability, the Company may, at its option, recover the debt from both the Consumer Credit Recipient and the Consumer Credit Recipient's spouse (or co- borrower), as well as from the joint property of the Consumer Credit Recipient and his/her spouse, unless the Consumer Credit Recipient or his/her spouse provides evidence as to why joint and several liability of the spouses cannot be applied. In the case of personal liability, the Debt recovery may be recovered only from the property of the Consumer Credit Recipient(s) who has failed to fulfill their obligations.
7.6. The Consumer Credit Recipient undertakes to reimburse all collection costs incurred by the Company (related to the fees of debt collection companies, stamp duty, court proceedings, assistance of lawyers and lawyers' assistants in preparing claims or performing other procedural actions, correspondence, experts, specialists, costs of enforcement of court decisions, etc.), in the event that the Consumer Credit Agreement is terminated due to the Consumer Credit Recipient's failure to fulfill its obligations and other reasons specified in this Agreement and the Company takes over the Right of Claim from the lenders.
7.7. If the Company terminates the Consumer Credit Agreement due to the Client's fault, the Company has the right to demand compensation for losses incurred (unearned income), the amount of which corresponds to the amount of payment (interest on profit) that the Company would not have received under this Agreement.
8. Consent to the processing of personal data
8.1. The Client/Consumer Credit Recipient agrees that his/her name, surname, personal identification number, types and amounts of the desired financial obligations for which a negative decision was made, types, amounts, terms of performance of existing financial obligations, data on the performance of these obligations, as well as data on past financial obligations and their performance for the purposes of creditworthiness assessment, would be obtained from all Consumer Credit Institutions or Financial Institutions operating in the Republic of Lithuania, participating in the information system Infobankas and the Credit Bureau system administered by UAB “Creditinfo Lietuva” (company code 111689163). Information about these Consumer Credit Institutions and Financial Institutions is available on the website www.creditinfo.lt.
8.2. The Client (Consumer Credit Recipient) agrees that persons processing personal data (the Population Register Service under the Ministry of Internal Affairs of the Republic of Lithuania, the State Social Insurance Fund Board under the Ministry of Social Security and Labour of the Republic of Lithuania, UAB "Creditinfo Lietuva" (company code 111689163), banks, other private or public companies, institutions or institutions) in the cases provided for in clause 8.1 and at the request of the Company, provide the personal data specified in clause 8.3. In the cases provided for in clause 8.1, the Company receives and processes personal data: name, surname, personal code, citizenship, declared and actual address of residence, telephone number, mobile phone number, personal document details, copy of personal document, marital status, number of minor children and dependents, data on the person's legal capacity, employer, employment, dismissal, business or individual activity, income from it, other income received, income tax declaration data, real estate and movable property held, property rights and restrictions on them, data on obligations and debts to consumer credit and financial institutions, other legal entities and individuals, consumer credit rating, debt amount, interest rate, amounts of other mandatory taxes and expenses, debt repayment procedure and terms, amount of delayed payment and terms of delay, settlement history and other data, bank account and (or) payment card numbers, and other data with the listed data-related information. The Client/Consumer Credit Recipient agrees that his/her name, surname, personal identification number and a copy of his/her personal document will be transferred to other financial institutions that are duly registered as personal data controllers for identification purposes.
8.4. If the Consumer Credit Recipient delays in fulfilling its obligations for more than 30 (thirty) days, the Company shall provide information about the identity, contact details and credit history of the Consumer Credit Recipient, i.e. financial and property obligations and their performance, debts and their payment, to the Credit Bureau UAB “Creditinfo Lietuva” (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 Client/Consumer Credit Recipient in accordance with the procedure established by the laws of the Republic of Lithuania, to other joint debtors' data processors, companies and organizations providing financial services, telecommunications companies, debt management companies and all third parties with a legitimate interest. If the rights of the Client/Consumer Credit Recipient are violated, he/she has the right to contact the Data Protection Officer by e-mail [email protected] or by the phone number specified above or to file a complaint with the State Data Protection Inspectorate or the court.
8.5. The Company undertakes to ensure the security of the personal data of the Client/Consumer Credit Recipient, to implement appropriate technical and organizational measures to protect personal data from unlawful destruction and/or accidental, alteration, disclosure and from any other unlawful processing. All employees of the Company and its representatives undertake to protect the personal data of the Clients/Consumer Credit Recipients of the Company. When processing personal data, the Company is guided by the provisions of applicable legal acts and the Company's Privacy Policy. The Company's Privacy Policy, among other things, details the purposes of data processing, the rights of the Client (data subject), the procedure for disputes regarding the processing of personal data, etc.
8.6. At the request of the Client, the Company must notify the data subject of the termination of his/her personal data processing actions or refusal to terminate the data processing actions.
9. Validity, cancellation, termination, and amendment conditions of a Consumer credit agreement
9.1. The Consumer Credit Agreement shall enter into force from the moment of its signing and shall be valid until all obligations under the Agreement are fulfilled. The Parties, in accordance with Article 6.192 of the Civil Code of the Republic of Lithuania and Article 5 of the Law on Electronic Identification and Electronic Transactions Trust Assurance Services of the Republic of Lithuania, agree that all actions and confirmations of the Consumer Credit Recipient performed using Identity Verification Means shall be deemed to be signed with an electronic signature and shall be equated with transactions concluded in written form, and shall have the same legal consequences as written documents confirmed by the signatures of the Consumer Credit Recipient or the Parties.
9.2. The Consumer Credit Agreement may be amended or supplemented only by a separate agreement of the Parties.
9.3. Unless otherwise provided by applicable law, the Company has the right to unilaterally amend and/or supplement the General Terms of the Agreement by informing the Consumer Credit Recipient by notice no later than 60 (sixty) days before the amendments come into force. If the Consumer Credit Recipient does not agree with the amendments, he has the right to repay the credit free of charge before the due date and thus terminate the Agreement. The Company will consider that the Consumer Credit Recipient agrees with the amendments if, before the date of entry into force of the amendments, the Consumer Credit Recipient does not notify that he does not agree with the amendments.
9.4. The above-mentioned 60 (sixty) day notice period shall not apply and the Consumer Credit Recipient shall be informed of the changes to the Agreement in the manner specified in clause 10.2 of the Agreement when:
9.4.1 The terms and conditions of the Agreement are changed due to the implementation of mandatory requirements of legal acts;
9.4.2. The price of the consumer credit is reduced;
9.4.3. Minor changes to the Agreement are made. Minor changes to the Agreement are considered to be style or grammar corrections, reformulation of a sentence, clauses, sections of the Agreement, relocation for clarity purposes and other changes that do not reduce or limit the rights of the Consumer Credit Recipient, do not increase the liability of the Consumer Credit Recipient and do not aggravate the situation of the Consumer Credit Recipient, or other changes made for important and objective reasons.
9.5. The Consumer Credit Agreement may be terminated by agreement of the Parties or unilaterally in the cases provided for in the Consumer Credit Agreement.
9.5.1. The Company has the right to terminate the Consumer Credit Agreement unilaterally, without going to court and by sending a prior written notice to the Consumer Credit Recipient, when all of the following conditions are met:
9.5.1.1. The Consumer Credit Recipient is informed of the overdue payment by a written notice prepared on a durable medium;
9.5.1.2. The payment is overdue for more than 1 (one) month and its amount is not less than 10 percent of the unpaid Consumer Credit amount or the payment is overdue for more than 3 (three) consecutive months;
9.5.1.3. The overdue payment has not been paid within 2 (two) weeks from the delivery of an additional written notice prepared on a durable medium to the Consumer Credit Recipient;
9.5.1.4. all objectively possible options have been exhausted to ensure that the obligations set out in the Consumer credit agreement are fulfilled.
9.6. The Company has the right to unilaterally terminate the Consumer Credit Agreement and demand the refund of the remaining portion of the consumer credit, interest and Commission Fee calculated up to the date of termination of the Consumer Credit Agreement, if the Company has sufficient grounds to suspect that the Consumer Credit Recipient or the persons for whose benefit the consumer credit was used (hereinafter referred to as the persons) are involved in money laundering or terrorist financing or other criminal activity, or connections with such persons become apparent, or high-risk activities of money laundering and terrorist financing are being carried out, or any of the persons is directly or indirectly subject to sanctions of the European Union, the United Nations or other international organizations, which are implemented by the Company.
9.7. A notice of unilateral termination of the Consumer Credit Agreement may be sent by post or e-mail.
9.8. The termination of the Consumer Credit Agreement shall take effect 5 (five) calendar days after the Consumer Credit Recipient received the Company's notice of termination of the Consumer Credit Agreement or when such notice became known to the Consumer Credit Recipient in another manner. Before the expiration of the term for termination of the Consumer Credit Agreement, the Consumer Credit Recipient must pay all installments whose payment term has already expired (i.e. overdue payments), interest on overdue credit installments and penalties, if any. The Parties agree that the notices will be deemed to have been served (received) in accordance with the conditions set out in subparagraphs 10.2.1.-10.2.3. of this Agreement.
9.9. If the Consumer Credit Recipient fails to repay the debt within the stipulated period and the termination of the Consumer Credit Agreement takes effect, the consumer credit recipient must return the entire amount of the Consumer Credit taken, the Commission Fee and Interest for the use of the Consumer Credit calculated until the date of the termination of the Consumer Credit Agreement taking effect, as well as penalties, if any, applied.
9.10. The Consumer Credit Recipient has the right to withdraw from the Consumer Credit Agreement within 14 (fourteen) days from the date of conclusion of the Consumer Credit Agreement.
9.10.1. If the Consumer Credit Recipient wishes to exercise the right to withdraw from the Consumer Credit Agreement, he must:
9.10.1.1. within 14 days from the date of granting the Consumer Credit, notify the Company of the withdrawal from the Consumer Credit Agreement upon arrival at the Company’s registered office, by registered letter or by e-mail;
9.10.1.2. immediately, but no later than within 30 (thirty) calendar days from the date of sending the notification of withdrawal from the Consumer Credit Agreement to the Company, return to the Company the Consumer Credit and the Interest accrued from the date on which the Consumer Credit was disbursed until the date of repayment of the Consumer Credit, i.e. The days of crediting the refundable amount to the Consumer Credit Recipient's electronic money account. This Interest is calculated in accordance with the Consumer Credit Interest Rate provided for in this Agreement.
9.10.2. The Company has the right to demand that the Consumer Credit Recipient compensate the Company for non-refundable taxes paid to public administration bodies.
9.11. The Consumer Credit Recipient has the right, within the Cooling-off Period (two calendar days from the date of granting the Consumer Credit), without giving a reason, to withdraw from the Consumer Credit Agreement and return to the Company the entire amount of the Consumer Credit received without paying the Consumer Credit Fee.
9.11.1. In order to exercise the right provided for in clause 9.11 of this Agreement, the Consumer Credit Recipient must:
9.11.1.1. return the entire amount of the Consumer Credit received to the Company within the specified period of 2 (two) calendar days;
9.11.1.2. inform the Company about the return of the Consumer Credit on the same day upon arrival at the Company's office and/or by e-mail or telephone number specified in this Consumer Credit Agreement.
9.12. The Consumer Credit Recipient has the right to repay part or all of the Consumer Credit before the term specified in the contract and exercise the right to a reduction in the Total Consumer Credit Price, if the following conditions are met:
9.12.1. The Consumer Credit Recipient, who wishes to repay the Consumer Credit before the term, must apply to the Company with a request indicating the exact date when the early repayment will be made. The request must be submitted by e-mail or registered mail or submitted upon arrival at the Company's office. The Consumer Credit Recipient may also top up his/her electronic money account and independently initiate a reduction in the Total Consumer Credit Price in his/her account;
9.12.2. The Consumer Credit Recipient must repay part or all of the Consumer Credit on the date specified in the request. In the event that the Consumer Credit Recipient intends to repay part or all of the Consumer Credit on a date other than that specified in the previously submitted application, the Consumer Credit Recipient must submit a new application with a revised date, and the previous application shall become invalid. Failure to comply with the procedure set out in this clause shall be deemed to have failed to properly comply with the conditions specified in clause 9.12.1;
9.12.3. In the event that the Consumer Credit or its part repaid on the previously established deadline exceeds EUR 2,320 (two thousand three hundred and twenty euros) during any 12-month period, the Company has the right to demand that the Consumer Credit Recipient pay compensation equal to 1 percent of the Consumer Credit part repaid on the previously established deadline, if the period from the date of the previously established deadline for the Consumer Credit Repayment to the agreed date of the Consumer Credit Agreement is longer than one year, otherwise the compensation to the Company may not exceed 0.5 percent of the Consumer Credit part repaid on the previously established deadline. The compensation to the Company may not exceed the amount of Interest that the Consumer Credit Recipient would have paid if the Consumer Credit Repaid on the time specified in the Consumer Credit Agreement.
9.12.4. Having repaid all or part of the Consumer Credit ahead of time, the Consumer Credit Recipient has the right to a reduction in the Total Consumer Credit Price, which consists of the Interest for the remaining period of the Consumer Credit Agreement, calculated from the date of repayment of the Consumer Credit or its part. All other expenses included in the Total Consumer Credit Price, except for Interest, per one day of Consumer Credit, may not exceed 0.04 percent of the Total Consumer Credit Amount.
9.12.5. If the Consumer Credit Recipient replenishes his/her electronic money account, but does not inform the Company in accordance with the procedure provided for in paragraph 9.12.1. or does not independently initiate a reduction in the Total Consumer Credit Price in his/her account, the Total Consumer Credit Price is not recalculated, and the Consumer Credit is repaid in accordance with the procedure specified in paragraph 5.8;
9.12.6. In the event that the Client's early repayment request requests recalculation of Interest, the Client, in order to have other costs related to the consumer credit agreement (Intermediation or other fees, if applicable), be recalculated, must clarify the request in writing to the Company or submit a new request. Such a request is submitted to the Company by e-mail [email protected] or by the Consumer Credit Recipient logging into their personal account and selecting recalculation.
9.13. When the Consumer Credit Recipient repays part of the Consumer Credit before the term specified in the Consumer Credit Agreement and exercises the right to a reduction in the Total Consumer Credit Price in accordance with the procedure specified in clause 9.12, the Consumer Credit Repayment Term and the Monthly Installment Amount are adjusted taking into account the amount of the partial early repayment made. In the event that the amount of the early repayment made is greater than the amount of the Monthly Installment Amount, the Consumer Credit Repayment Term is shortened by the number of months by which the partial early repayment made fully covers the Monthly Installments. After that, the remaining amount of the partial early repayment is divided by the number of remaining unpaid Monthly Installments and each remaining Monthly Installment is reduced by this amount. When the amount of the partial advance payment made is less than the amount of the Monthly Payment, the Consumer Credit repayment term is not shortened, but the amount of the advance payment made is divided by the number of remaining unpaid Monthly Payments and each remaining Monthly Payment is reduced by this amount.
9.14. When the Consumer Credit Recipient expresses its will to amend the Consumer Credit Agreement due to the fact that it is unable or, for reasons known in advance, will not be able to properly fulfill its obligations under the existing Consumer Credit Agreement(s), the Parties may agree to amend certain Special Terms and Conditions with terms no worse than the original terms and conditions and, for this purpose, sign the Appendix(es) to the Consumer Credit Agreement or conclude a settlement agreement that essentially resolves the issue of debt repayment and prevents a future legal dispute.
9.15. If the Consumer Credit Recipient submits a request in the User Account for amending the terms and conditions of the Consumer Credit Agreement, and the Company makes a decision to satisfy the request, it is deemed that the Parties have agreed to amend the Special Terms and have confirmed them with electronic signatures.
9.16. The Company's statement to the Consumer Credit Recipient that the Company refuses to pay out funds under the Consumer Credit Agreement, as set out in clauses 3.3.1 and 4.8 of the Consumer Credit Agreement, is not considered termination of the Consumer Credit Agreement, but it is a basis for the termination of this agreement upon its proper performance. After such a statement, the Consumer Credit Agreement shall terminate and the Parties shall have no property or non-property claims against each other under this agreement.
10. Final provisions
10.1. Disputes or other disagreements or claims arising from or related to this Agreement shall be resolved through negotiations. If a dispute or other disagreement cannot be resolved through negotiations, or if one of the Parties decides that resolving a dispute or other disagreement through negotiations is inappropriate, the dispute shall be resolved in court in accordance with the procedure established by the laws of the Republic of Lithuania.
10.1.1. The consumer credit recipient, believing that the Company has violated his rights or interests protected by law, must file a complaint with the Company in writing and indicate his claims.
10.1.2. The Company shall provide the Consumer Credit Recipient with a detailed reasoned written response, supported by documents. The detailed procedure and terms for considering a complaint are established in the Company’s Rules for Considering Complaints of Consumer Credit Recipients, which are published on the Company’s Website.
10.1.3. If the Company's response to the Consumer Credit Recipient's complaint does not satisfy the Consumer Credit Recipient or if there has been no response, the Consumer Credit Recipient has the right to contact the Bank of Lithuania (address: Gedimino pr. 6, LT-01121 Vilnius) no later than within 1 (one) year from the date of the possible violation.
10.2. All notices of the Parties to each other must be submitted in writing. The Parties agree that notices sent to the other Party by e-mail or SMS to the mobile phone number, which are provided by the Consumer Credit Recipient to the Company in the User Account or in a paper application, are equivalent to notices in written form.
10.2.1. A notice received by e-mail is considered to have been received when 12 hours have passed since its sending.
10.2.2. A notice received by SMS is considered to have been received when 12 hours have passed since its sending.
10.2.3. A notice received by registered mail is considered to have been received when 5 (five) calendar days have passed since its sending.
10.3. The Client agrees that the Company may also send notifications by automatic electronic means of communication that do not require human intervention.
10.4. The Parties agree that the law of the Republic of Lithuania shall apply to the interpretation of this Agreement.
10.5. Notifications from the Company and the Consumer Credit Recipient shall be sent by regular mail and e-mail to the addresses specified by the Parties. Any change in the Parties’ addresses must be notified in writing within 2 (two) calendar days of the change in the aforementioned address.
10.6. 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.