WEB Agreement

User's Web Agreement

 

TERMS AND CONDITIONS OF THE DOFINANCE WEBSITE USER AGREEMENT

 

1.    Terms used in the Agreement and their explanation

 

Loan

Non-cash funds issued by the Lender to the Borrower under the terms and conditions of the Loan Agreement.

 

Loan Agreement

The distance agreement between the Borrower and the Lender on the issue of the Loan to the Borrower.

 

Lender

The legal entity that has issued the Loan to the Borrower based on the Loan Agreement and that holds the right of Claim against the Borrower under the Loan Agreement, in whole or in any part thereof.

 

Borrower

Any natural person who has entered into the Loan Agreement (distance agreement) with the Lender.

 

The Assignor

A Lender transferring, in accordance with the Assignment Agreement, to the Assignee, the right of claim (the Claim) against the Borrower arising from the Loan Agreement.

A natural person or legal entity that holds a right of Claim against the Borrower under the Loan Agreement, in whole or in any part thereof.

 

 

Assignment Agreement

The agreement by and between the Assignor and the Assignee, whereby the Assignor transfers the Claim against the Borrower to the Assignee for a charge.

 

The Bank Account of the Assignee

A current account with any credit institution registered in the Republic of Latvia, a branch of a foreign credit institution in Latvia, another credit institution in the European Union or in any EEA country, opened in the name of the Assignee.

SIA Dofinance reserves the right to transfer the received funds back to the Bank Account of the Assignor without providing the reason for such action.

 

The Assignee

The natural person or legal entity that has acquired a right of Claim against the Borrower based on the Assignment Agreement.

 

Price List

Charges specified on the Dofinance website to be paid by the Investor to Dofinance for servicing the Claim and other actions taken by Dofinance.

 

Investor

A natural person or legal entity that has registered on the Website and wants to purchase from the Lender the Claims against the Borrower offered on the Dofinance Website, including a natural person or legal entity (the Assignee) that has purchased the Claim (right of claim), or the Assignee, and a natural person or legal entity that has sold the Claim (right of claim), or the Assignor.

 

Investor Identification Number

A customer number assigned by Dofinance to each Investor that is required for further identification of the Investor when taking action on the Website, including, but not limited to making payments and supplementing the Account of the Investor.

 

The Bank Account of the Investor

A current account with any credit institution registered in the Republic of Latvia, a branch of a foreign credit institution in Latvia, another credit institution in the European Union or in any EEA country, opened in the name of the Investor.

 

Account of the Investor

The individual account of the Investor's Profile that is created on the Dofinance Website for each Investor and serviced to make possible the conclusion and performance of the Dofinance Loan Agreement and the Assignment Agreement.

 

Investor's Profile

The operational platform of the natural person or legal entity registered on the Dofinance Website, which, after the registration of the Investor on the Website, is available to the Investor whenever the Investor has proven its identity on the Website with its email address and password.

 

Terms of Use of the Website

The terms of use of the Website described in this Agreement and on the Website that are binding upon and mandatory for each Investor, upon registering on the Website and using it, and upon the purchase of the Claims and entering into the Assignment Agreement.

 

Website User Agreement (this Agreement, hereinafter the Agreement)

A distance agreement by and between Dofinance and the Investor entered into by Dofinance and the Investor under the Agreement and the Terms of Use of the Website regarding the procedure of use of the Website and the Investor's profile.

 

Website

The Dofinance internet site with the address www.dofinance.eu where natural persons or legal entities may register as Investors by creating an investor's Profile. The Website provides all the necessary information on the receipt of the Loan and the acquisition of Claims.

 

Claim Servicing

Activities carried out by Dofinance in connection with the sale of Claims, entering into the Assignment Agreements, Claim recovery, transfer of funds to the Assignee and other activities listed on the Website.

 

Claim Servicing Charge

A charge specified in the Price List on the Dofinance Website that the Assignee shall pay Dofinance for Claim Servicing.

 

Price of the Claim

(amount of the Loan, the right to claim which is acquired)

A fee that the Assignee shall pay the Assignor for the entire Claim or a portion thereof. The Price of the Claim is specified in the principal terms and conditions of the Assignment Agreement.

 

Claim

The Claim against the Borrower arising from the Loan Agreement as specified in the principal terms and conditions of the Assignment Agreement in full or in any part of it. The amount of the Claim is specified in the principal terms and conditions of the Assignment Agreement.

 

Interest

Compensation specified in the principal terms and conditions of the Assignment Agreement for using the Loan amount, which is a part of the Claim. Interest shall be calculated on the unpaid amount of the Loan remaining in the Claim and the Borrower shall pay the interest in accordance with the provisions of the Loan Agreement and the Schedule, which is an integral part of the Loan Agreement.

 

Application for Registration

An application completed on the Website by a natural person or a legal entity to register as an Investor.

 

Third Party

Any third party (natural person or legal entity) that is not a party to this Agreement.

 

Dofinance

SIA Dofinance, unified registration number: 40203016025, registered address: Antonijas iela 5, Riga, LV 1010, Latvia - a limited liability company, which acts as a platform for investment and provides for the sale of Claims against Borrowers, entering into the Assignment Agreements and the Servicing of Claims.

 

The Bank Account of Dofinance

The Bank account specified on the Dofinance Website.

 

Moment of Investment

The investment is deemed made at the moment when funds transferred by the Investor are received in the account of Dofinance.

 

Auto Invest Investment

The Auto Invest investment policy terms and conditions specified on the Dofinance Website and the Investor's Profile.

 

 

 

2.    Registration of the Investor on the Website

2.1.   To register on the Website and to create the Investor's profile as well as to purchase the right of Claim against the Borrower, the Investor must meet, and the Investor certifies that at the moment of registration on the Website and throughout the period of use of the Investor's profile it will meet the following criteria:

2.1.1.  the Investor is a natural person;

2.1.2.  he/she must be at least 18 (eighteen) years of age;

2.1.3.  the Investor has opened the account with any credit institution registered in the Republic of Latvia, a branch of a foreign credit institution in Latvia, or another credit institution in the European Union or in any EEA country;

2.1.4.  the Investor is legally competent and capable to act; with regard to the natural person, his/her capacity has not been limited;

2.1.5.  the Investor is not under the influence of alcoholic, narcotic, psychotropic or other intoxicating substances;

2.1.6.  there are noinsolvency proceedings of a natural person or legal entity started against the Investor;

2.1.7.  if the Investor is a legal entity then it is represented by a Board Member or another authorised person entitled to conclude transactions for and on behalf of the specific legal entity, and holds the right of representation.

2.2.   When starting the registration process, the Investor shall fill out the Application for Registration on the Website, thus confirming his/her consent to this Agreement and the Terms of Use of the Website. After completing the Application for Registration, the Investor's profile is created on the Website by granting the identification number and password chosen by the Investor.

2.3.   Only registered Investors are entitled to receive the services listed on the Website and the Investor's Profile may be used only by the Investor himself/herself. Every time before using the Investor's Profile the Investor shall authenticate his/her profile by providing his/her email address and password.

2.4.   Dofinance is not obliged to register every Investor and it may refuse registration of an Investor without giving reasons for the refusal.

 

3.    Identification of the Investor

3.1.       After the Investor has registered on the Website and before transferring the funds to the Bank Account of the Investor, the Investor shall electronically send to Dofinance or upload to the Website his/her identity document. A representative of a legal entity shall electronically send to Dofinance or upload to the Website his/her identity document and shall attach documents certifying the grounds for representation (Articles of Association, certification from the Register of Enterprises, Power of Attorney).

3.2.       To identify the Investor, Dofinance shall use information received from the bank in which the Bank Account of the Investor has been opened. Before the identification process, the Investor shall supplement the Account of the Investor and shall mandatorily specify his/her identification number.

3.3.       For the purpose of identification, Dofinance is entitled to contact the Investor at its sole discretion, at any time, and ask for additional identification documents or additional information that would confirm the identity of the Investor and/or confirm other details provided by the Investor about himself/herself.

3.4.       Dofinance is entitled to unilaterally change the rules of identification of the Investor and the process of identification of the Investor as well as to specify additional requirements for the identification of the Investor.

3.5.       The Parties hereby understand and agree that at the moment the Investor has submitted the Application for Registration in the procedure set forth herein and has paid the funds to the bank account of Dofinance, he/she confirms that the Investor wants to use the Website and the services offered therein in accordance with this Agreement and the Terms of Use of the Website.

3.6.       The agreement between Dofinance and the Investor shall enter into force from the moment when the Investor, on the Website, has confirmed the Terms of Use of the Website, agreed to the terms and conditions of the Agreement, completed the registration process and paid the funds to the bank account of Dofinance.

3.7.       Dofinance shall notify the Investor about the fact of conclusion of the Agreement in writing by sending information to the e-mail address specified by the Investor.

3.8.       The Investor shall authenticate his/her profile by providing his/her email address and password. Dofinance shall be entitled to block the Investor's Profile if the password is entered incorrectly 5 (five) times in a row.

3.9.       Dofinance shall be entitled to restore the Investor's password if the Investor requests such in writing. A unique Internet link shall be sent to the email address specified by the Investor, upon the activation of which the Investor shall have the opportunity to renew the password.

3.10.    The Investor shall not disclose his/her Investor's password to any Third Party. In the event that the password has become available to a Third Party, the Investor is obliged to immediately change it and at the same time to promptly inform Dofinance of the password becoming available to Third Parties and the need to block the Investor's Profile until the Investor changes the password.

3.11.    In the event that Dofinance has suspicions regarding any activities of the Investor on the Website and/or Investor's Profile, Dofinance may refuse to approve activities carried out on the Website and/or Investor's Profile and/or block the Investor's Profile until Dofinance is able to contact the Investor to validate the activities carried out and to verify the identity.

3.12.    Dofinance shall not be held liable for actions by Third Parties if the Investor has not taken care of the security of data.

 

4.    Account of the Investor

4.1.       To supplement the Account of the Investor, the Investor shall use only EUR currency.

4.2.       If the Investor has made a payment to Dofinance or supplemented the Account of the Investor by using another currency, Dofinance is entitled to convert the deposited currency to EUR according to the currency exchange rate determined by the bank holding the account that the currency has been transferred into. All costs associated with currency conversion to EUR shall be covered by the Investor.

4.3.       To supplement the Account of the Investor, the Investor shall transfer the funds to the Bank Account of Dofinance and afterwards they are credited to the Account of the Investor.

4.4.       The Investor is entitled to supplement the Account of the Investor only from his/her own bank account, the Bank Account of the Investor, and only on its own behalf, by transferring funds from the Bank Account of the Investor to the Bank Account of Dofinance.

4.5.       When making the first payment to the Account of the Investor as well as when supplementing the account, the Investor confirms that he/she is not performing and throughout the period of validity of this Agreement will not perform any action related to money laundering.

4.6.       Upon supplementing the Account of the Investor, it is mandatory to specify the Investor Identification Number in the purpose of payment.

4.7.       If Dofinance has received payment from an Investor that can not be identified, such payment shall not be considered to have been received until the moment of its identification.

4.8.       Interest, including statutory interest, shall not be paid for the funds stored on the Account of an Investor.

4.9.       The Investor shall instruct Dofinance to use the funds in the Account of the Investor in accordance with the provisions of this Agreement and the activities carried out by the Investor on the Investor's Profile.

4.10.    Dofinance shall be entitled to close the Account of the Investor in the following cases:

4.10.1.     if it is requested in writing by the Investor himself/herself;

4.10.2.    if the Investor has not acquired any Claim for more than 12 (twelve) consecutive months;

4.10.3.    if the Account of the Investor has reached a negative value;

4.10.4.    if this Agreement is terminated or the Investor's Profile is deleted;

4.10.5.    if the Investor is in breach of the terms and conditions of this Agreement or has committed other unlawful activities;

4.10.6.    if information has become available to Dofinance that insolvency proceedings of a natural person or legal entity have been started against the Investor.

4.11.    The Investor is entitled to request, at any time, that Dofinance pays the funds in the Account of the Investor that have not been used for the purchase of Claims, to the Bank Account of the Investor, from which the Investor had previously made a transfer.

4.12.    Dofinance shall provide for the transfer of funds from the Account of the Investor within 2 (two) banking days after receipt of the request by the Investor on the Investor's Profile.

4.13.    In order to ensure the performance of this Agreement, the Assignment Agreement or other actions, Dofinance shall be entitled to transfer the funds from the Account of the Investor to the Bank Account of Dofinance.

4.14.    The Investor agrees to only supplement his/her account with funds of legal origin, the origin of which the Investor can prove at any time.

4.15.    The Investor is not entitled to pay funds into his/her account that have been acquired in an unfair or unlawful way. Dofinance is entitled to report any suspicious activity to law enforcement agencies as well as to block access of an Investor to his/her account and/or access to the Investor's Profile.

4.16.    The Parties hereby understand and agree that any funds credited to the Bank Account of Dofinance and stored there for any reason shall not be considered as a deposit or equivalent savings and Dofinance is not obliged to pay/accrue interest for holding such funds in the account of the Investor.

 

 

5.    Purchase of Claims and entering into the Assignment Agreement

5.1.       An Investor is entitled to purchase the Claims offered on the Website provided that Dofinance has identified the Investor and that there are sufficient funds available on the Account of the Investor for the purchase of the chosen Claim.

5.2.       When purchasing Claims, the Investor shall comply with the following:

5.2.1.       The Investor is entitled to choose one or more Claims from all the Claims that are offered on the Website;

5.2.2.       If the Investor wants to purchase only a portion of the Claim, the Investor shall specify the amount that the Investor is willing to pay for the portion of the respective Claim;

5.2.3.       The Investor is entitled to purchase an unlimited number of Claims against a Borrower both in the full amount and in any portion thereof;

5.2.4.       The Investor is entitled to purchase Claims in accordance with the funds in the Account of the Investor that are available to the Investor.

5.3.       Dofinance shall record the Investor's applications to purchase Claims in chronological order, starting with the oldest. If necessary, Dofinance has the right to amend the sequence of the purchase of Claims.

5.4.       Simultaneously with the application to purchase a Claim, the Investor authorises Dofinance to transfer the charge for the Claim from the Account of the Investor to the Bank Account of the Assignor.

5.5.       After the Investor has specified the selected Claim(s) and the value of the Claim(s), for which the Investor agrees to purchase the Claims, Dofinance shall inform the Investor, on his/her Profile, about the selected Claims and shall submit to the Investor the Assignment Agreement for review and approval. If the Investor agrees to enter into the Assignment Agreement, the Investor shall confirm it on his/her Profile.

5.6.       The Assignment Agreement shall be deemed to have been entered into at the moment the Investor has approved the terms and conditions of the Assignment Agreement and Dofinance has transferred the Price of the Claim from the Account of the Investor to the Bank Account of the Assignor.

5.7.       After entering into the Assignment Agreement, the concluded Assignment Agreement is available in the Investor's Profile throughout the period of its validity.

5.8.       All documents with respect to the Claim are stored only by Dofinance and are not transferred to the Assignee.

5.9.       In the event that the Assignee has purchased a Claim arising from the Loan Agreement only in part thereof, the Assignee is aware and agrees that the Claim does not include all the claims of the Assignor against the Borrower, and Dofinance is entitled to only service the Claim in favour of the Assignee for the portion of the Claim against the Borrower that had been purchased.

5.10.    Dofinance shall service all payments made by the Borrower if they have been received from the Borrower under the provisions of the Loan Agreement, and shall transfer all payments received to the Assignee in the following amount and procedure:

5.10.1.    The principal of the Loan (proportionate to the acquired part of the Claim) that Dofinance has received from the Borrower. If the Assignee has not acquired the entire Claim against the Borrower or the Claim against the Borrower has been acquired by several Assignees then the received principal of the Loan shall be distributed in proportion to the Claim of each Assignee against the Borrower;

5.10.2.    Interest and all other ancillary claims arising from the Loan Agreement and the respective Claim as received by Dofinance from the Borrower. If the Assignee has not acquired the entire Claim against the Borrower or the Claim against the Borrower has been acquired by several Assignees then the received payments shall be distributed in proportion to the Claim of each Assignee against the Borrower.

5.11.    Dofinance shall immediately transfer to the Account of the Investor all payments due to the Investor, no later than within 5 (five) business days after their receipt from the Borrower, in accordance with the terms and conditions specified on the Dofinance Website.

5.12.    Prior to transferring payments received from the Borrower to the Investor to the Account of the Investor, Dofinance shall be entitled to withhold the Claim Servicing Fee and other payments in accordance with the Price List specified on the Website.

5.13.    The Investor is entitled to become acquainted with all actions carried out on the Investor's Profile, including payments made and received, subject to restrictions set forth in this Agreement.

5.14.    In the event that during the use of the Investor's Profile any activities of the Investor have been listed and/or registered incorrectly, Dofinance is entitled to correct the respective errors and to make amendments to the Investor's Profile.

5.15.    In case Dofinance finds that the Investor's Profile has a negative balance, Dofinance shall immediately notify such to the Investor, who shall be obliged to supplement the Account of the Investor, no later than within 5 (five) days after receipt of the notification from Dofinance, to the extent that the negative balance of the Account of the Investor is covered.

5.16.    The Assignee is informed and agrees that Dofinance is responsible only for the authenticity and veracity of the Claim, but Dofinance is not and can not be held liable for the safety of the Claim and the events where the Borrower fails to cover the Claim.

5.17.    Dofinance is not and can not be held liable for the Borrower's obligation to repay a Loan and to cover a Claim, and Dofinance is under no obligation to reimburse or compensate the Assignee for the portion of the Claim not repaid.

 

6.    Procedure for automatically entering into Claims using the Auto Invest Purchase and Assignment Agreements

6.1.       The Investor is entitled to purchase Claims by using the automated Auto Invest process in his/her Investor's Profile.

6.2.       If the Investor wants to install Auto Invest for automated Claim purchasing, the Investor shall confirm in his/her Profile the consent to enter into the Assignment Agreement and consent to the terms and conditions of the Assignment Agreement as well as shall recognise such as binding upon him/her. The approved Assignment Agreement and its conditions shall be in force for the entire period of acquisition and validity of the Claim.

6.3.       In order to activate the automated Claim acquisition service Auto Invest, the Investor, in his/her Profile, fills in the offered parameters for the purchase of claims, according to which Dofinance shall select the necessary Claims for the needs of the Investor in the future.

6.4.       The Investor is informed and agrees that only the Investor himself/herself is responsible for the installed parameters of the automated Claim acquisition service Auto Invest and waives any claims against Dofinance in this regard.

6.5.       The Investor shall provide for the funds on his/her account to receive the automated Claim acquisition service Auto Invest.

6.6.       Simultaneously with the installation of the automated Claim acquisition service Auto Invest in the Investor's Profile the Investor authorises Dofinance to transfer from the Account of the Investor the Price of Claim for the Claims meeting the parameters specified by the Investor to the Bank Account of the Assignor or the Account of the Assignor (Investor), and to register the Claims on the Investor's Profile.

6.7.       The Investor is entitled to terminate receipt of the automated Claim acquisition service Auto Invest throughout the period of validity of the Agreement.

6.8.       Dofinance is under no obligation to additionally inform the Investorabout the Claims acquired during the period of receipt of the automated Claim acquisition service Auto Invest and the rights and obligations arising from such. The Investor is obliged to research the documents, notifications and other information placed on the Investor's Profile and relating to the Investor and the Claims purchased by him/her.

 

7.    Rights and duties of Dofinance

7.1.       Dofinance Shall implement this Agreement and provide for the Servicing of Claims in accordance with the provisions of this Agreement.

7.2.       Dofinance shall manage and service the Claims on its own behalf, but all activities related to the enforcement of the Claim shall be carried out in the interests of the Assignee.

7.3.       The Investor authorises Dofinance to manage the Claims and carry out the Servicing of Claims on behalf of Dofinance and in the interests of the Investor.

7.4.       Dofinance certifies that all Loans are actually existing and Dofinance shall carry out the Servicing of Claims in the procedure set forth in the Loan Agreement and the laws and regulations so as to ensure their recovery.

7.5.       Dofinance shall not be liable either to the Investor or the Assignee, or their legal successors or heirs, or any other third parties in the event that the Loan Agreement is not performed by the Borrower completely or in any part thereof and if the Claim is not repaid and satisfied.

7.6.       Based on the authorisation granted by the Assignee at the moment of entering into the Assignment Agreement, Dofinance is entitled to manage the Claim until its full repayment and redemption.

7.7.       Dofinance shall make all payments in favour of the Assignee and shall withhold payments from the Account of the Investor only in the procedure set forth herein.

 

8.    Rights and duties of the Investor

8.1.       The Investors confirms that he/she has researched the provisions of this Agreement, the Assignment Agreement and the Loan Agreement, they are clear and understandable to the Investor and the Investor is willing to assume the obligations, rights and duties arising from such, and the Investor waives any claims whatsoever against Dofinance that such provisions have not been discussed or have been unilaterally determined by Dofinance.

8.2.       All activities carried out from the Investor's Profile shall be regarded as activities carried out by the Investor himself/herself, and thus shall be recognised as binding upon the Investor.

8.3.       The Investor shall ensure the performance of the provisions of this Agreement and other agreements that he/she has accepted within the scope of relations with Dofinance.

8.4.       The Investor shall ensure sufficient funds on his/her Investor’s Account to provide for the performance of the Agreement and for covering the payments arising from it.

8.5.       If the Investor has failed to provide a sufficient balance of funds in the Account of the Investor, Dofinance is not obliged to accept and execute the respective assignment, transaction or payment of the Investor.

8.6.       The Investor agrees not to disclose to Third Parties the information related to this Agreement that may affect the interests of Dofinance or the Borrower.

8.7.       The Investor agrees not to request information about the Borrowers himself/herself and not to start servicing the Claim, and/or not to commence the Loan recovery. The Assignee shall not, personally or through other authorised representatives, contact the Borrower in any way in connection with the concluded Assignment Agreement and the acquired Claim.

8.8.       The Assignee hereby understands and agrees that it is bound by the terms and conditions of the Investment specified in the Dofinance Website and chosen by the Assignee in accordance to the terms and conditions of each selected Auto Invest investment. The Assignee shall cover the expenses incurred or that may be incurred by Dofinance as the result of failure to perform this Agreement.

8.9.       The Investor shall:

8.9.1.       use the Website only for the performance of actions specified in it and in this Agreement;

8.9.2.       when registering and carrying out activities on the Website, entering into agreements with Dofinance or communicating with Dofinance, provide true information both about himself/herself and on other issues;

8.9.3.       take all necessary measures to prevent the access of any Third Party to the Investor's Profile;

8.9.4.       immediately inform Dofinance of any changes made by the Investor about himself/herself when making changes in the Investor's information available in the Investor's Profile on the Website.

 

9.    Claim Servicing Charge and other charges

9.1.       For the services rendered, the Investor shall pay Dofinance the Claim Servicing Charge and other charges in accordance with the Price List specified on the Website.

9.2.       In special cases Dofinance may individually agree with the Investors on the Servicing of Claims or determining the amount of other charges.

9.3.       Simultaneously to entering into the Assignment Agreement, the Investor authorises Dofinance to transfer, without prior coordination with the Investor, from the Account of the Investor to the Bank Account of Dofinance, the Claim Servicing Charge and other charges in accordance with the Price List specified on the Website.

9.4.       Dofinance is entitled to withhold the Claim Servicing Charge and other charges in accordance with the Price List specified on the Website from the funds received from the Borrower, prior to their payment to the Account of the Investor for the repayment and redemption of the Claim.

9.5.       The Investor is aware and agrees that the bank servicing the Investor and Dofinance may withhold a commission for supplementing the Account of the Investor in accordance with the terms and price list of the bank servicing the Investor.

9.6.       The Investor is aware that there are laws and regulations applicable to the Investor, including laws and regulations governing the payment of tax for the income received by the Investor for the Claim. The Investor himself/herself is responsible for payment of all the necessary duties and taxes in accordance with the requirements of the laws and regulations in force in the country of his/her residence.

 

10.Liability and guarantees

10.1.    The Investor shall be responsible for the truthfulness, accuracy, completeness and compliance of all the details he/she has provided to Dofinance.

10.2.    The Investor is responsible for all the activities carried out on the Investor's Profile.

10.3.    The Investor shall be liable for any damage caused by his/her activity (action or omission) to Dofinance, the Lender, the Borrower or any other Third Party.

10.4.    Dofinance shall not be liable in cases where the representative of the Investor, as a legal entity, had not been authorised to represent the legal entity concerned and had not had the right of representation (both when entering into the Agreement and upon receipt of payments related to this Agreement).

10.5.    Dofinance shall be liable for any damages caused by its activity (action or omission) to the Investor only insofar Dofinance can be directly and clearly blamed for the occurrence of such damages and only to the extent of the funds on the Account of the Investor at the moment of the occurrence of the damage. Dofinance shall not be held liable for indirect damage and lost profits.

10.6.    During the performance of the Agreement, when using means of communication, Dofinance shall not be liable for damages incurred due to disturbances in using mail, facsimile, electronic or other means of communication as well as technical equipment ensuring the relevant Dofinance services, including, but not limited to communications failures, Website malfunction, the malfunction of electronic data exchange and payment systems (including Internet banking) of the credit institutions.

10.7.    Dofinance shall not be liable for damages that have been or may be caused to the Investor in connection with entering into the Assignment Agreement, including the Borrower's default under the Loan Agreement and Claim repayment and redemption.

10.8.    Dofinance confirms that Lenders are issuing Loans in accordance with the laws and regulations of the country where the agreement is entered into, as well as with the Loan Agreement, and that they comply with such throughout the period of validity of the Loan Agreement.

 

11.Confidentiality, personal details of the Investor and information on the legal entity

11.1.    Within the scope of this Agreement, any information arising from this Agreement and concerning the Loan Agreement or the Assignment Agreement shall be regarded as confidential. Dofinance shall provide information about the Investor and the Borrower in accordance with the Loan Agreement, this Agreement, the Assignment Agreement and the laws and regulations of the Republic of Latvia, and only to certain persons, in accordance with the established procedure and amount.

11.2.    The Investor acknowledges and agrees that simultaneously with registration on the Website the Investor provides Dofinance with express and explicit consent for processing the personal data of the User in accordance with the provisions included in the Agreement, and confirms the correctness of his/her personal data.

11.3.    By registering on the Website, the Investor agrees that Dofinance shall add personal data of the Investor available to Dofinance (information that the Investor has provided upon registration on the Website, as well as information that has become available to Dofinance in connection with the performance of the Agreement) to its customer database. The Investor agrees that such data may be transferred to third parties that have directly or indirectly acquired a substantial shareholding in Dofinance, or in which Dofinance has acquired direct or indirect shareholding, as well as the personal data operators registered with the Republic of Latvia Data State Inspectorate operating with the personal data processing systems managed by Dofinance, insofar the information is necessary for the performance of the functions assigned to them.

11.4.    In order to ensure the implementation of this Agreement and to contact the Investor, Dofinance is entitled to process the personal data of the Investor available to Dofinance, to use the received personal data of the Investor in the performance of this Agreement, and Dofinance is entitled to use the personal data of the Investor to establish, amend, perform and/or terminate legal relations with the Investor.

11.5.    The Investor agrees that Dofinance is entitled to perform processing of the data of the Investor (collection, storage, registration, input, transfer, transmission, etc.) as well as to deliver and receive data of the Investor and other information to third parties, databases, accounting systems (including, but not limited to the Population Register, the Credit Register of the Bank of Latvia, the State Revenue Service, the State Social Insurance Agency).

11.6.    The Investor agrees that Dofinance is entitled to process the personal data of the Investor both electronically and manually. The Investor agrees that Dofinance is entitled to entrust the processing of the personal data of the Investor to a personal data operator as well as to carry it out not only in the Republic of Latvia, but also in other countries of the European Union and European Economic Area.

11.7.    Dofinance is entitled to disclose personal data of the Investor to all businesses and companies outsourced by Dofinance, including, but not limited to the debt-collecting companies engaged in debt collection from the Investor as well as to any person related to Dofinance in provision for the performance of obligations arising from this Agreement and also in other cases specified by laws and regulations.

11.8.    Dofinance shall record and use the data of an Investor that is a legal entity in accordance with the national laws and regulations of Republic of Latvia.

 

12.Entry into force and termination of the Agreement

12.1.    The agreement between Dofinance and the Investor shall enter into force from the moment when the Investor, on the Website, has confirmed the Terms of Use of the Website, agreed to the Agreement, completed the registration process and paid the funds to the bank account of Dofinance.

12.2.    The terms and conditions of the Agreement are available on the Website throughout the period of validity of the Agreement.

12.3.    The Investor is entitled to use his/her profile only after approval of the terms and conditions of the Agreement and/or their amendments in the Investor's Profile.

12.4.    Dofinance is entitled to restrict the access of the Investor to the Website, to block the Investor's Profile or to unilaterally terminate this Agreement and to delete the Investor's Profile if the following has been established:

12.4.1.    the Investor is in breach of the terms and conditions of this Agreement or the terms and conditions of the Assignment Agreement;

12.4.2.    the Investor has provided Dofinance with knowingly false or inaccurate information;

12.4.3.    the Investor uses the Website for illegal purposes;

12.4.4.    Dofinance suspects that the Investor is using the proceeds of crime for the acquisition of Claims, is financing terrorism or other activities punishable under the Criminal Law of the Republic of Latvia and/or the Investor has been involved in such activities;

12.4.5.    if Dofinance has notified the Investor about amendments to the Agreement and the Investor has not approved such for more than 30 (thirty) days from the date of receipt of such notification.

12.5.    The Investor is entitled to request Dofinance to terminate the Agreement and to delete the Investor's Profile provided that the Investor does not have any active Claim serviced by Dofinance and the Investor has no debt obligations against Dofinance under this Agreement.

12.6.    In the event of termination of the Agreement in the procedure set forth herein, the Investor is denied the use of the Investor's Profile as well as the possibility to purchase new Claims and conclude Assignment Agreements.

12.7.    In the event of termination of the Agreement in the procedure set forth herein, Dofinance shall make a transfer from the Account of the Investor to the Bank Account of the Investor by transferring all the funds in it, withholding the Claim Servicing Charges and other charges, if any are due under this Agreement and the Price List.

 

13.Other provisions

13.1.    This Agreement is concluded by electronic means in accordance with the procedure specified in the Agreement and it is valid without the signatures of the Parties.

13.2.    All activities on the Website and the Investor's Profile shall be carried out only by using the euro (EUR) currency.

13.3.    The Investor agrees that Dofinance is entitled to communicate with the Investor 1) by sending an SMS and/or calling the Investor's mobile number specified in the Investor's Profile; 2) by calling other numbers specified in the Investor's Profile; 3) by sending an e-mail message to the e-mail address specified in the Investor's Profile; 4) by sending regular or registered mail to the actual and/or declared residence address or registered address of the Investor specified in the Investor's Profile. Correspondence sent by mail is deemed to have been received on the third day after the date indicated on the stamp of the Latvian Post regarding acceptance of the registered letter.

13.4.    Dofinance shall send this Agreement to the Investor electronically to the e-mail address specified by the Investor, where the Investor can research it during the entire period of the validity of the Agreement.

13.5.    Dofinance is entitled to unilaterally amend the provisions of the Agreement by notifying such to the Investor at least 10 (ten) days in advance.

13.6.    Dofinance shall notify all amendments to the Agreement to the Investor by sending such electronically to the e-mail address specified by the Investor.

13.7.    Dofinance is entitled to amend the Claim Servicing Charge and other charges specified on the Website and related to the provision of the offered services as well as to determine additional charges by notifying the Investor of such at least 10 (ten) days in advance.

13.8.    In the event that the Investor has not approved amendments to the Agreement in the Investor's Profile within 20 (twenty) days, Dofinance is entitled to suspend payments to the Assignee, to block the right of access of the Investor to the Investor's Profile and to ban the carrying out of operations in it until the moment the Investor has approved the amendments to the Agreement.

13.9.    This Agreement is valid until the complete fulfilment of the obligations set forth herein.

13.10. The Parties shall resolve any disputes arising in the course of the performance of this Agreement, which can not be resolved by mutual negotiation, in the procedure set forth by the laws and regulations of the Republic of Latvia.

13.11. This Agreement is made in duplicate in Latvian and in duplicate in English, one copy of which shall be retained in each language by the Investor and Dofinance. The text in Latvian shall be the prevailing document in the course of dispute resolution.

13.12. The Investor agrees and has no objections to receive any kind of commercial and non-commercial communications, advertising materials, wide range of news and all kinds of information that would be sent to the mobile phone number and the e-mail address specified by the Investor. The Investor confirms that he/she has no objection against either the way of sending such information or its possible content.

13.13. The Investor is bound by the provisions of the Agreement throughout the period of validity of the Agreement, until the Investor's Profile is deleted.

 

14.Authorisation

14.1.    By means of this Agreement the Investor simultaneously authorises the Lender to perform the following activities after entering into the Assignment Agreement:

14.1.1.    to manage the Claim against the Borrower for and on behalf of the Investor by using, on behalf of the Investor, all the rights and powers granted to it under the respective Assignment Agreement and by asking the Lender to take action on its own behalf, but in the interests of the Investor;

14.1.2.    to fully manage the Claim and to take all necessary actions related to the repayment of the Loan and the performance of the Loan Agreement until fully repaying the Loan and satisfying the Claim in the full amount;

14.1.3.    without prior coordination with the Investor and at its own discretion, to make amendments and supplements to the Loan Agreement, including extending the Loan repayment period, but not more than 6 (six) times, setting forth that each of the 6 (six) extensions of the Loan repayment period shall be no longer than 30 (thirty) days.

14.2.    The Investor is informed that the above authorisation in relation to the Lender shall be valid throughout the period of validity of the respective Assignment Agreement and the activities carried out by the Lender in this regard shall be binding upon the Investor and the Investor waives the claims against the Lender in this regard.

14.3.    Simultaneously with this Agreement, the Investor authorises Dofinance to do the following:

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

14.3.2.    to distribute the payments received from the Lender between all the Investors (Assignees) that, at the moment of receipt of the payment from the Borrower, have a valid right of claim against the Borrower, and to transfer such to the Account of the Investor (Assignee);

14.3.3.    to withhold all payments related to the Assignment Agreement according to the Price List;

14.3.4.    to terminate the Assignment Agreement at any moment by repurchasing the Claim from the Investor (Assignee) and paying to the Account of the Investor (Assignee) the amount equal to the remaining principal of the Claim and the accrued interest not yet paid.

14.4.    The Investor is informed that the above authorisation in relation to Dofinance shall be valid throughout the period of validity of this Agreement and the activities carried out by Dofinance in this regard shall be binding upon the Investor and the Investor waives the claims against Dofinance in this regard.