User Agreement

REGULATIONS LAID DOWN BY DOFINANCE LTD. FOR THE USE OF THE WEBSITE

1.       Terms Used and Interpretation Thereof in the Agreement  

Loan                                          

 

Non-cash funds granted to the Borrower by the Lender in accordance with the Loan Agreement.

Loan Agreement

A remote agreement on provision of the Loan to the Borrower entered into by the Borrower and Lender.

Lender

A legal entity that grants the Loan to the Borrower based on the Loan Agreement and that has a right to claim against the Borrower in accordance with the Loan Agreement in full or in any part.

Borrower

An individual, who enters into a Loan Agreement agreement) with the Lender.

Assignor

A Lender that transfers a right to claim (Claim) against the Borrower resulting from the Loan Agreement to the Assignee. An individual that has a right to claim against the Borrower in accordance with the Loan Agreement in full or in any part.

Assignment Agreement

An agreement entered into by the Assignor and Assignee, providing that the Assignor transfers to the Assignee the Claim against the Borrower for a fee.

Assignees bank account

Any current account opened in the name of the Investor with a credit establishment registered in Latvia or a branch of a foreign credit establishment in Latvia, any other EU credit establishment or any other country of the EEZ, or credit establishment of any country in Asia, which is not included in the lists of high risk and non-cooperative jurisdictions or is not subject of international sanctions. DoFinance Ltd. reserves the right to transfer back the funds received from the Assignee’s bank account without giving any explanation for doing so.                                                          

Assignee

An individual, who has purchased the right to Claim against the Borrower.

Price-list

The payments stipulated on the Website to be paid by the Investor to DoFinance for the Servicing of the Claim and other actions taken by DoFinance.

Investor

An individual registered on the DoFinance Website and interested in the purchase of the Claims against the Borrower, including an individual (Assignee) that has purchased the Claim (Right to claim) or the Assignee, and individual or legal entity that has sold the Claim (Right to claim) or the Assignor.

Investor’s identification number

An Investor’s number, assigned by DoFinance to each investor, which is necessary for further identification of the Investor, and shall be indicated when making payments and topping up the Investor’s account.

Investor’s bank account

Any current account opened in the name of the Investor with a credit establishment registered in Latvia or a branch of a foreign credit establishment in Latvia, any other EU credit establishment or any other country of the EEZ or credit establishment of any country in Asia, which is not included in the lists of high risk and non-cooperative jurisdictions or is not subject of international sanctions.

 

Investors account

An individual account created and maintained by DoFinance for each Investor on the Website in the Investor’s profile, and that allows the entry into and fulfilment of the Agreement and Assignment Agreement.                                                                     

Investors profile

An individual’s work platform registered on the DoFinance Website and accessible to the Investor after the Investor’s registration on the Website, after the Investor has logged into the Website, stipulating his address and password.

Website usage terms and conditions

Terms and conditions for the use of the Website specified in this Agreement and Website that are binding and mandatory for each Investor registering on the Website and using the Website, purchasing a Claim and entering into an Assignment Agreement.  

Website usage agreement (the current agreement, hereinafter referred to as the Agreement)

The remote access agreement between DoFinance and the Investor for the procedure for use of the Website and Investor’s profile to be entered into by DoFinance and the Investor in accordance with the Agreement and Regulations for the use of the Website.

Website

DoFinance Website at   www.dofinance.eu where individuals may register as investors or create an Investor’s profile, and where all information required to receive the Loan can be found.

Claim servicing

Totality of actions taken by DoFinance in relation to the sale of the Claim, entering into the Assignment Agreement, collection of the amount of the Claim, transfer of funds to the Assignee and other actions stipulated on the Website.

Claim servicing price

The price stipulated in the Price List on the DoFinance Website to be paid by the Assignee to DoFinance for Servicing of the Claim.

Claim price (the amount of the Loan that acquires the right of claim)

Price to be paid by the Assignee to the Assignor for the Claim or part of the Claim. The Claim price is stipulated in the principal conditions of the Assignment Agreement. 

Claim

The Claim against the Borrower or its part stipulated in the Assignment Agreement that results from the Assignment Agreement. The amount of the Claim is stipulated in the principal conditions of the Assignment Agreement. 

Interest

The remuneration for the use of the amount of the Loan stipulated in the Assignment Agreement included in the Claim. The Interest is calculated based on the claimed outstanding principal amount of the Loan, and the Borrower shall calculate these amounts in accordance with the provisions of the Loan and Schedule that forms an integral part of the Loan. 

Registration application

An application filled out by an individual on the Website in order to register as an Investor.                                            

Third person

Any individual or legal entity that is not a party to this Agreement.

Dofinance

DoFinance Ltd., Uniform Registration No. 40203016025, legal address: 5 Antonijas Street, Riga, LV 1010, Latvia – limited liability company that operates as investment platform and ensures the sale of the Claim against the Borrower, entering into the Assignment Agreement and Servicing of the Claim.

Dofinance bank account

The bank account specified on the DoFinance Website. 

The moment of the investment

An Investment shall be considered to be completed when the funds, transferred by the Investor, have entered the account of DoFinance.

Auto invest investments

Auto invest Investment policy and conditions specified on the DoFinance Website and the Investor’s profile.


2. Registration of an Investor on the Website 

2.1. In order to register on the Website and to create an Investor’s profile to purchase the right to Claim against the Borrower, the Investor should meet, and the Investor confirms that, at the time of registration on the Website and during the entire period of the use of the Investor’s profile, he/she will meet the following criteria:

2.1.1. The Investor is an individual;

2.1.2. The Investor is at least of age of 18 (eighteen) years old; 

2.1.3. The Investor has an account opened with a credit establishment registered in Latvia or a branch of a foreign credit establishment in Latvia, any other EU credit establishment or any other country of the EEZ or credit establishment of any country in Asia, which is not included in the lists of high risk and non-cooperative jurisdictions or is not subject of international sanctions;

2.1.4. The Investor has the legal capacity to act and is not encumbered in any way.

2.1.5. The Investor is not under the influence of alcohol, drugs and/or any other psychotropic substances;

2.1.6. Insolvency proceedings have not been initiated against the Investor.

2.2. The Investor has completed the Registration application on the Website, thereby confirming that he/she agrees to this Agreement and the Regulations for the use of the Website. The Investor’s profile has subsequently been created by assigning an Investor’s identification number and password chosen by the Investor.

2.3. The services stipulated on the Website can be received by registered Investors only, and the Investor’s profile can be used only by the Investor himself, who logs onto his/her Investor’s profile by using his/her e-mail address and password before using the Investor’s profile.

2.4. DoFinance is not obliged to register each Investor and can refuse to register any Investor without providing any reasons for the refusal. 

 

3. Identification of the Investor

3.1. Once the Investor has registered on the Website, the Investor sends a copy of a personal identification document to DoFinance electronically or by uploading an identification document.

3.2.  In order to identify the Investor, DoFinance uses the information received from the bank, with which the Investor’s bank account has been opened. Before the identification process, the Investor shall deposit funds into Investor’s account; indication of the Investor’s identity number is mandatory.

3.3. For purposes of identification DoFinance is entitled to contact the Investor at its discretion at any time and to request additional identification documents or additional information, which certify the Investor’s identify and/or confirm other data provided by the Investor about himself/herself.

3.4. DoFinance is entitled to change the Investor’s identification rules and Investor’s identification procedure unilaterally, as well as to set additional requirements for Investor’s identification.

3.5. A Registration application submitted according to this Agreement, and crediting of the funds transferred from the Investor’s bank account to the DoFinance bank account, confirm that the Investor wishes to use the Website and the services provided on it, in accordance with this Agreement and the Terms and Conditions for the use of the Website. The Agreement between DoFinance and the Investor comes into force when the Investor has agreed to the Terms and Conditions for the use of the Website, the Agreement, finalized the registration process as Investor, and transferred funds to the bank account of DoFinance. 

3.6. DoFinance informs the Investor about the fact of entering into the Agreement by sending a confirmation e-mail to the Investor’s e-mail address.

3.7. The Investor logs into the Investor’s profile using his/her e-mail address and password. DoFinance is entitled to block the Investor’s profile, if the password is entered incorrectly 5 (five) times in a row.

3.8. DoFinance is entitled to renew the Investor’s password, if the Investor files a written request. A special (unique) link shall be sent to the Investor’s email address and upon activating the link, the Investor shall be able to renew the password.

3.9. The Investor undertakes not to disclose its Investor’s password to any third person. If the password falls into the hands of any third person, the Investor is obliged to change it immediately or to inform DoFinance immediately that his password has fallen into the hands of third persons, and that it is necessary to block the Investor’s profile until the Investor has changed his password.

3.10. If DoFinance has suspicions regarding actions of the Investor on the Website and/or Investor’s profile, DoFinance may refuse to approve the actions performed on the Website or the Investor’s profile and/or block the Investor’s profile until DoFinance has been able to contact the Investor to approve the performed actions and to verify the Investor’s identity.

3.11. DoFinance shall not be liable for any actions carried out by third persons, if the Investor has not taken due and proper care of data security.

 

4. Actions with the Investor’s account

4.1. When depositing additional funds into the Investor’s account, the Investor shall only use do so in euros.

4.2. If the Investor has made a payment to DoFinance or added funds to the Investor’s account using any other currency, DoFinance is entitled to convert the added currency to the currency in which the Investor had made the first top up to the Investor’s account, according to the exchange rate of the bank, to the account in which the currency was credited.

4.3. To add funds to the Investor’s account, the Investor shall transfer the funds to the DoFinance bank account and afterwards these funds will be transferred by DoFinance to the Investor’s account.

4.4. The Investor is entitled to add funds to the Investor’s account from Investor’s own bank account only, and solely on behalf of himself/herself, by transferring funds from the Investor’s bank account to the DoFinance bank account.

4.5. When adding funds to the Investor’s account, indication of Investor’s identification number is mandatory.

4.6.  If DoFinance receives an unidentifiable payment from the Investor, such a payment shall not be deemed to have been received until it has been duly identified.

4.7. Any interest payments, including legitimate interest, shall not be calculated and paid for the funds stored in the Investor’s account.

4.8. The Investor shall authorise DoFinance to use the funds in the Investor’s account, in accordance with the terms and conditions of this Agreement and the actions performed by the Investor in the Investor’s profile.

4.9.  DoFinance is entitled to close the Investor’s account in the following cases:

4.9.1. if requested to do so by the Investor himself/herself;

4.9.2. if the Investor has not purchased any Claim for more than 12 (twelve) months;

4.9.3. if there is a negative balance in the Investor’s account;

4.9.4. if this Agreement has been terminated or the Investor’s profile has been deleted;

4.9.5. if the Investor has violated the provisions of this Agreement or committed other unlawful actions.

4.10. The Investor is entitled at any time to request DoFinance to transfer the funds in the Investor’s account to the Investor’s bank account from which the Investor made his or her initial transfer.

4.11. DoFinance shall ensure the transfer of funds from the Investor’s account to the Investor within 2 (two) bank working days upon receiving such a request in the Investor’s profile.

4.12. DoFinance is entitled to transfer funds from the Investor’s account to the DoFinance bank account to ensure completion of the Agreement, the Assignment Agreement or any other actions.

4.13. The Investor shall add funds to the Investor’s account using only funds of a legal origin, evidence for which shall be proved by the Investor at any time.

4.14. The Investor has been informed that it is prohibited to credit any funds to the Investor’s account, which were acquired in an unfair or illegal way, and that DoFinance is entitled to report any suspicious actions to the respective authorities, as well as to block the Investor’s access to the Investor’s account and/or access to the Investor’s profile.

4.15. The Parties hereby agree that any funds that are transferred to and stored for any reason in the DoFinance bank account shall not be considered as a deposit or any equalized saving and DoFinance is not obliged to pay any interest on such funds.

 

5. Purchasing of Claims and Entry into the Assignment Agreement

5.1. Once DoFinance has identified the Investor, the Investor is entitled to purchase the Claims offered on the Website, provided that the Investor’s account has sufficient funds to purchase the selected Claim.

5.2. The Investor shall abide by the following rules when purchasing Claims:

5.2.1. From all the Claims offered on the Website, the Investor is entitled to choose one or more Claims;

5.2.2. If the Investor wishes to purchase only a part of any Claim, the Investor shall indicate the amount which the Investor is prepared to pay for part of the respective Claim;

5.2.3. The Investor is entitled to purchase an unlimited number of Claims against any Borrower in full or in any part;

5.2.4. The Investor is entitled to purchase Claims to the extent that they do not exceed the funds in the Investor’s account and available to the Investor.

5.3. DoFinance shall register the Investor’s applications for the purchasing of Claims in chronological order, starting with the oldest one. DoFinance is entitled to amend the Claim purchasing procedure.

5.4. Simultaneous to the application to purchase a Claim, the Investor shall authorise DoFinance to transfer the Claim Price for the Claim from the Investor’s account to the Assignor’s bank account.

5.5. Once a Claim has been chosen and the price for which the Investor agrees to purchase the Claims has been indicated, DoFinance shall inform the Investor in the Investor’s profile about selected Claims and submit the Assignment Agreement to be reviewed and approved by the Investor. If the Investor agrees to enter into the Assignment Agreement, the Investor shall confirm this in his/her Investor’s profile.

5.6. The Assignment Agreement is deemed to have been entered into once the Investor has confirmed the provisions of the Assignment Agreement and DoFinance has transferred the Claim Price to the Assignor’s bank account.

5.7. The concluded Assignment Agreement is available on the Investor’s profile during the entire period of the Assignment Agreement.

5.8. All the documents regarding the Claim are kept by DoFinance and are not transferred to the Assignee.

5.9. If the Assignee purchased a Claim that results from the Loan Agreement in part only, the Assignee shall be informed that and agrees that the Claim does not include all the Assignor’s claims against the Borrower, and DoFinance has the right to service the Claim for the benefit of the Assignee in the purchased part of the Claim against the Borrower only.

5.10. DoFinance services all payments made by the Borrower in accordance with the provisions of the Loan Agreement and transfers to the Assignees all received payments in the following amount and order:

5.10.1. The principal amount (in the proportion of the purchased part of the Claim) of the Loan received by DoFinance from the Borrower.   If the Assignee has not purchased the entire Claim against the Borrower or the Claim against the Borrower is purchased by several Assignees, the principal amount of the Loan is divided proportional to each Assignee’s Claim against the Borrower.

5.10.2. The Interest and all incidental claims resulting from the Loan Agreement and relevant Claim received by DoFinance from the Borrower.  If the Assignee has not purchased the entire Claim against the Borrower or the Claim against theBorrower is purchased by several Assignees, the received payments are divided proportional to each Assignee’s Claim against the Borrower.

5.11. DoFinance shall transfer payments received from the Borrower to the Assignee (Investor) to the Investor’s account immediately, but not later than within 5 (five) working days, after their receipt from the Borrower, according to the Terms and Conditions specified on the Website.

5.12. Prior to transfer of the payments received from the Borrower to the Investor’s account, DoFinance is entitled to withhold the Price of Servicing the Claim and other payments in accordance with the Price List published on the Website.

5.13. The Investor is entitled to study all the actions performed on the Investor’s profile, including payments made and approved, in accordance with the restrictions laid down in this Agreement.

5.14. If any Investor’s actions were recorded and/or registered incorrectly during the use of the Investor’s profile, DoFinance is entitled to correct these mistakes and to make corrections to the Investor’s profile.

5.15. If DoFinance ascertains that there is a negative balance on the Investor’s profile, DoFinance shall inform the Investor about it immediately, and the latter is obliged, no later than 5 (five) days from the day of receipt of DoFinance notice, to add funds to the Investor’s account in the amount required to cover the negative balance in the Investor’s account.

5.16. The Assignee has been informed and agrees that DoFinance is responsible for the authenticity and truthfulness of the Claim, however, DoFinance is not and cannot be responsible for the security of the Claim and those cases, when the Borrower does not discharge the Claim.

5.17. DoFinance is not and cannot be responsible for the Borrower’s obligation to repay the Loan and to discharge the Claim, and DoFinance is not obliged to repay or to compensate the Assignee for any part of the Claim which has not been discharged.

 

6. Automatic “Auto invest” Claim Purchase Procedures and Conclusion of Assignment Agreements

6.1. The Investor has the right to purchase Claims using the Auto invest automated procedure on its Investor’s profile.

6.2. If the Investor wishes to set up Auto invest automated purchasing of Claims, the Investor shall confirm, on his Investor’s profile, that he agrees to enter into the Assignment Agreement, agrees to the provisions of the Assignment Agreement, and considers himself to be bound by them. The approved Assignment Agreement and its provisions are in force during the entire period of purchasing of Claims and the entire period of existence of the Claim.

6.3. To enable the Auto invest automated Claim purchasing service, the Investor shall enter, on the Investor’s profile, the proposed parameters for the purchasing of Claims, based on which DoFinance shall further select the Claims that meet the needs of the Investor.

6.4. The Investor has been informed and agrees that only the Investor himself/herself is responsible for the set parameters of the Auto invest automated Claim purchasing service, and refuses to file any claims against DoFinance in this regard.

6.5. The Investor secures funds in its Investor’s account to receive the Auto invest automated Claim purchasing services.

6.6. Simultaneous to setting up the Auto invest automated Claim purchasing service, the Investor authorises DoFinance to transfer the Claim Price for the Claims meeting the parameters set by the Investor from the Investor’s account to the Assignor’s bank account or the Assignor’s (Investor’s) account, and to register the Claims on the Investor’s profile.

6.7. The Investor is entitled to terminate the receipt of the Auto invest automated Claim purchasing service throughout the Agreement term.

6.8. The Parties agree and understand that if an Investor using any of the DoFinance offered “Auto invest” programmes wishes to stop doing so before the set schedule and to claim back the invested money with the interest, the calculation of interest shall be terminated from the moment the Investor has approved the reimbursement of funds (i.e. the Investor has pressed the button “Withdraw” for the current investment programme).

6.9. DoFinance is not obliged to additionally inform the Investor about the Claims purchased when receiving the Auto invest automated Claim purchasing service, or the rights and obligations arising from them. The Investor is obliged to study the documents, notices and other information posted on the Investor’s profile, which refer to the Investor and the Claims purchased by him.

 

7. Rights and Obligations of DoFinance

7.1. DoFinance shall fulfil this Agreement and ensure Servicing of the Claim in accordance with the provisions of this Agreement.

7.2. DoFinance undertakes to manage and service the Claim on its own behalf, but to perform all the actions related to the fulfilment of the Claim in the interests of the Assignee.

7.3. The Investor authorises DoFinance to manage claims and to service Claims on behalf of DoFinance, but in the interests of the Investor.

7.4. DoFinance confirms that all the Claims are genuine and that DoFinance services Claims in accordance with the Loan Agreement and the relevant laws and regulations to ensure their repayment.

7.5. DoFinance shall not be liable either to the Investor or Assignee, or their liabilities and successors or heirs or any other third person, if the Assignment Agreement is not fulfilled on

7.6. The part of the Borrower in full or in part, and if the Claim is not repaid or discharged. Based on the Assignee’s authorisation issued by the Assignee to DoFinance when concluding the Assignment Agreement, DoFinance is entitled to manage the Claim until it is fully repaid or discharged.

7.7. DoFinance undertakes to make all payments in favour of the Assignee, as well as to withhold payments from the Investor’s account strictly in accordance with the procedures specified in this Agreement.

7.8. DoFinance is entitled to change the set interest on the Website by informing the Investor on the Website. DoFinance is entitled to make changes and amendments to the interest on investments that shall be made, as well to investment programmes already in place and Auto-invest programmes that are in force at the moment of the change in interest.

 

8. Rights and Obligations of the Investor

8.1. The Investor confirms that he/she clearly understands the provisions of this Agreement, the Assignment Agreement and the Loan Agreement and the liabilities, rights and obligations arising from them, and that the Investor refuses to submit any claims against DoFinance in this respect regarding the fact that these provisions have not been discussed or have been unilaterally imposed by DoFinance.

8.2. All the actions performed from the Investor’s profile are deemed to be actions performed by the Investor himself/herself, and are deemed as binding on the Investor.

8.3. The Investor shall ensure compliance with the provisions of this Agreement and provisions of any other agreements, which it has undertaken within the framework of its relationship with DoFinance.

8.4. The Investor shall ensure that there are sufficient funds in its Investor’s account to secure the performance of the Agreement and to cover payments arising from it.

8.5. In the event that the Investor has not deposited sufficient funds in the Investor’s account required to cover a transaction, DoFinance is not obliged to fulfil the respective task, deal or payment on behalf of the Investor.

8.6. The Investor undertakes not to disclose the information related to this Agreement, which might affect the interests of DoFinance or the Borrower, to any third persons.

8.7. The Investor undertakes not to request any information about the Borrower and not to start servicing the Claim and/or initiate a recovery of the Loan himself/herself. The Assignee undertakes not to contact the Borrower in relation to the concluded Assignment Agreement or the acquired Claim in person or through other authorised representatives.

8.8. The Assignee hereby confirms that Investment Rules stipulated on the DoFinance Website are mandatory and binding on the Investor, in accordance Auto invest terms and conditions. The Assignee undertakes to cover expenses incurred by or which may be incurred by DoFinance in the event of the non-fulfilment of the Assignee’s duties.    

8.9. The Investor undertakes:

8.9.1. to use the Website solely for the performance of the actions envisaged by it under this Agreement;

8.9.2. when registering on the Website, using it and entering into agreements with DoFinance or communicating with DoFinance, to provide only true information about himself/herself and other matters;

8.9.3. to perform all the necessary measures to prevent access of any third person to the Investor’s profile;

8.9.4. to inform DoFinance immediately about any changes in the information provided by the

8.9.5. Investor about himself/herself on the Investor’s profile in the Website.

 

9. Cost of Servicing of the Claim and other Payments

9.1. For the services provided, the Investor shall pay DoFinance the Price of Servicing of the Claim and other payments in accordance with the Price List published on the Website.

9.2. In individual cases, DoFinance can reach a separate agreement with the Investor regarding Servicing of Claims or the amount of other payments.

9.3. Upon the conclusion of the Assignment, the Investor authorises DoFinance to transfer the Price of Servicing of the Claim and other payments from the Investor’s account to the DoFinance bank account, in accordance with the Price List published on the Website without prior agreement with the Investor.

9.4. DoFinance is entitled to withhold the Price of Servicing the Claim and other payments in accordance with the Price List published on the  Website  from  the  funds  received  from  the Borrower before crediting them to the Investor’s account to repay and discharge the Claim.

9.5. The Investor has been informed and agrees that the Investor’s operating bank can withhold a fee  for adding funds to the Investor’s account, in accordance with the  rules and Price List of the respective operating banks of the Investor and DoFinance.

9.6. The Investor has been informed that the Investor is subject to laws and regulations, including the laws and regulations regulating the payment of taxes for the income received by the Investor

for the Claim. The Investor himself/herself is responsible for the payment of all the duties and taxes, in accordance with the requirements of laws and regulations of his/her country of residence.

 

10. Liability and Guarantees

10.1. The Investor is responsible for the authenticity, accuracy, completeness and compliance of the information provided to DoFinance.

10.2. The Investor is responsible for all the actions performed on the Investor’s profile.

10.3. The Investor is responsible for all the losses incurred by DoFinance, the Borrower or any other third person due to his actions (activity or inactivity).

10.4. DoFinance is responsible for all the losses incurred by the Investor due to its actions (activity or inactivity), insofar as DoFinance can be directly and clearly blamed for the occurrence of such losses and to the extent of the funds available in the Investor’s account at the time of the losses. DoFinance shall not be liable for indirect losses and loss of profit.

10.5. During the fulfilment of this Agreement, when using means of communication, DoFinance shall not be responsible for the losses incurred due to the disruptions in the use of mail, facsimile, electronic or other means and technical equipment that support relevant DoFinance services, including but not limited to the disruptions in the use of the means of communication, accessibility of the Website, work of credit establishments’ data exchange and payment systems (including Internet banking).

10.6. DoFinance is not responsible for any losses, which are incurred or could be incurred by the Investor in relation to the conclusion of this Assignment Agreement, including non-fulfilment of the Borrower’s obligations according to the Loan Agreement and repayment and discharge of the Claim.

10.7. DoFinance confirms that Lenders issue Loans according to the laws and regulations of the respective Lender’s country of residence, and abide by them during the entire period of the Loan Agreement.

 

11. Confidentiality and the Investor’s Personal Data

11.1. Any information arising from this Agreement and relating to the Loan Agreement or the Assignment Agreement is deemed to be confidential. Information about the Investor and the Borrower shall be provided by DoFinance in accordance with the Loan Agreement, this Agreement, the Assignment Agreement and regulations of the Republic of Latvia and to certain persons in accordance with the established procedure and scope only.

11.2. The Investor recognises and agrees that by registering on the Website, the Investor gives DoFinance its direct and unconditional consent to process the User’s personal data in accordance with the provisions included in the Agreement and confirms that his/her personal data is correct.

11.3. By registering on the Website, the Investor authorises filing of the Investor’s personal data available to DoFinance to its customer database (all information provided by the Investor, by registering on the Website, or made available to DoFinance in relation to the fulfilment of contractual obligations). The Investor agrees and authorises transfer of this data to Third Parties that have acquired, directly or indirectly, a substantial share in DoFinance’s authorised capital and those in which DoFinance directly or indirectly acquires an interest, and to the personal data processing system managed by DoFinance, personal data operators registered by the Data State Inspectorate of the Republic of Latvia, to the extent that such information is required for the fulfilment of their functions.

11.4. To ensure fulfilment of this Agreement and to contact the Investor, DoFinance may process the Investor’s personal data available to DoFinance, by using the obtained Investor’s personal data for the fulfilment of this Agreement. In addition, DoFinance may use the Investor’s personal data to establish, change, fulfil and/or terminate the legal relations with DoFinance.

11.5. The Investor agrees that DoFinance is entitled to process the Investor’s data (collect, store, register, input, transfer, etc.) and transfer and receive the Investor’s data and other information from Third Parties, databases, accounting systems (including but not limited to the Register of Residents, Register of Latvian Bank Credits, State Revenue Service, and State Social Security Agency).

11.6. In order to prevent money laundering and financing of terrorism, DoFinance is entitled to carry out additional Investor’ data acquisition, including, but not limited to reports of bank statements, that testify to the Investor’s income, documents stating the Investor’s employment, information and documents on received dividends, information about the Investor’s financial resources and welfare from the public resources; as well as other documents that state the Investor’s source of income and source of funds.

11.7. The Investor authorises DoFinance to process the Investor’s personal data both electronically and manually. The Investor agrees that DoFinance may assign processing of the Investor’s personal data to another personal data operator to be carried out not only in the Republic of Latvia, but also in other European Union and European Economic Area countries or any country in Asia, which is not included in the lists of high risk and non-cooperative jurisdictions or is not subject of international sanctions.

11.8. DoFinance is entitled to disclose the personal data of the Investor to any and all outsourcers of DoFinance, including, but not limited to, debt recovery companies, which collect debts for the Investor, as well as to any person, which is linked to DoFinance to secure the performance of the obligations arising from this Agreement, as well as in the cases specified in other laws and regulations.

 

12. Entry into Force and Termination of the Agreement

12.1. The Agreement between DoFinance and the Investor enters into force when the Investor has agreed to the Terms and Conditions for the use of the Website and the Agreement on the Website, has finalized the registration process and transferred funds to the DoFinance bank account.

12.2. The provisions of this Agreement shall be available on the Website throughout the Agreement term.

12.3. The Investor is entitled to use the Investor’s profile only after the approval of provisions of the Agreement and/or amendments thereof on the Investor’s profile.

12.4. DoFinance may limit the Investor’s ability to use the Website, block the Investor’s profile or unilaterally terminate this Agreement and delete the Investor’s profile in the following cases:

12.4.1. if the Investor violates the provisions of this Agreement or the Assignment Agreement;

12.4.2. if the Investor has deliberately submitted invalid or inaccurate information to DoFinance;

12.4.3. if the Investor uses the Website for unlawful purposes;

12.4.4. if DoFinance suspects that the Investor has used or is using criminal proceeds to purchase the Claim or finance terrorism or performs any other activities that are considered as a criminal activity according to the Criminal Law of the Republic of Latvia and/or the Investor is involved in such activities;

12.4.5. if DoFinance has notified the Investor about amendments to the Agreement and the Investor does not approve them for more than 30 (thirty) days from the day of receipt of the notice.

12.5. DoFinance may unilaterally terminate this Agreement by notifying the Investor in writing to by sending notification to the specified e-mail address at least 10 (ten) days beforehand.

12.6. The Investor may ask DoFinance to terminate the Agreement and to delete the Investor’s profile provided that the Investor has no active Claims serviced by DoFinance and the Investor has no debt obligations to DoFinance under this Agreement.

12.7. If this Agreement has been terminated according to the procedure laid down in this Agreement, the Investor is denied the use of the Investor’s profile or the possibility to purchase new Claims and conclude Assignment Agreements.

12.8. If this Agreement has been terminated according to the procedure laid down in this Agreement, DoFinance shall make a transfer from the Investor’s account to the Investor’s bank account, transferring all the funds available there after having withheld the Prices of Servicing of the Claim and other payments, if applicable, according to this Agreement and the Price List.

 

13. Other Conditions

13.1. This Agreement is drawn up electronically in accordance with the procedure stipulated in the Agreement, and is valid without signatures of the Parties.

13.2. All transactions on the Website and the Investor’s profile shall be conducted in euros.

13.3.  The Investor agrees that DoFinance is entitled to contact the Investor, 1) by sending an SMS and/or calling at the Investor’s mobile operator’s number specified on the Investor’s profile; 2) by calling other phone numbers specified on the Investor’s profile; 3) by sending an e-mail to the e-mail address specified on the Investor’s profile; 4) by sending an ordinary or registered mail to the Investor’s actual and/or declared place of residence specified on the Investor’s profile. The correspondence sent by mail shall be deemed to have been received on the third day after the date on the Latvian postage stamp regarding receipt of the registered letter.

13.4.  DoFinance shall post this Agreement on the Website and the Investor is entitled see it  throughout the period of the Agreement.

13.5. DoFinance may unilaterally amend this Agreement by sending a notification to the Investor’s profile at least 10 (ten) days in advance.

13.6. DoFinance shall notify the Investor about all amendments to the Agreement by e-mail using the e-mail address specified by the Investor.

13.7. DoFinance may amend the Price of Servicing of the Claim and other payments, which are related to the provision of the offered services, specified on the Website, as well as to set extra payments, by informing the Investor accordingly at least 10 (ten) days in advance.

13.8. If the Investor does not approve amendments to the Agreement on the Investor’s profile for more than 20 (twenty) days, DoFinance may suspend payments to the Assignee, deny the Investor the right to access the Investor’s profile and prevent any actions in the profile until the Investor approves the respective amendments to the Agreement.

13.9. This Agreement is valid until fulfilment of the relevant liabilities herein stipulated.

13.10. Disputes arising from this Agreement which cannot be resolved by way of negotiation, shall be shall be regulated according to the regulations of the Republic of Latvia.

13.11. This Agreement is signed in two copies in Latvian and two copies in English, one copy in each language shall be kept by the Investor and the other by DoFinance. The text in Latvian language is the primary source.

13.12. The Investor shall accept and have no objection to the receipt of any type of commercial or non-commercial notifications, advertising materials, various news and all type of information to be sent to the Investor’s specified mobile phone number or to Investor’s specified e-mail address. The Investor confirms that he has no objections to the manner in which such information or its possible content is sent.

13.13. The Investor shall abide by the provisions of this Agreement throughout the Agreement term until such time the Investor’s profile has been deleted.

 

14.  Authorisation

14.1. Hereby, the Assignee simultaneously authorises the Lender to do the following:

14.1.1. on behalf and in the interests of the Assignee against the Borrower to use all rights and powers assigned under this Assignment Agreement in the name of the Assignee, by asking the Lender to act on his own behalf but in the interests of the Investor.

14.1.2.  to manage the Claim in all aspects and take all actions required related to the repayment of the Loan and fulfilment of the Loan Agreement, until the Loan has been repaid in full and the Claim has been discharged in full;

14.1.3. without the prior approval of the Investor, at his own discretion, to amend and supplement the Loan Agreement, including extending the Loan repayment period but by no more than 6 (six) times, determining that each of the 6 (six) extensions of the Loan repayment periods must not exceed 30 (thirty) days.

14.2. The Investor has been informed that the authorisation above in relation to the Lender shall be valid during the entire period of the Assignment Agreement, and therefore, the Lender’s actions shall be binding on the Investor, and the Investor refuses to submit claims against the Lender.

14.3. Hereby, the Assignee simultaneously authorises DoFinance to do the following:

14.3.1. to transfer the Claim Price from the Assignee’s (Investor’s) account to the Assignor’s account or Assignor’s bank account;

14.3.2. to distribute the payments among all Assignees who have valid rights to claim against the Borrower at the moment of receipt of the payment and to transfer them to the Investor’s (Assignee’s) account;

14.3.3. to deduct all payments relating to this Assignment Agreement in accordance with the Price List; at any time,

14.3.4. to terminate this Assignment Agreement, by repurchasing the Claim from the Investor (Assignor) and paying the amount equal to the remaining principal amount of the Claim and accrued and unpaid amount of the Interest to the Assignee’s (Investor’s) account.

14.4. The Investor has been informed that the authorisation above in relation to DoFinance shall be valid during the entire period of the Assignment Agreement, and therefore DoFinance’s actions shall be binding on the Investor, and the Investor refuses to submit claims against the Lender.