TERMS AND CONDITION
Kabayan Loan Credit Solution and its Services, the Customer agrees to have read and understood the following Terms by the customer or whoever access and encoded their personal, professional information on Kabayan Loan Credit Solution Portal;
1.) The Use of the Kabayan Loan Credit Solution Service constitutes and express consent and conformity of the Customer to these Terms and Conditions, without reservations.
2.) The Customer acknowledges that the Kabayan Loan Credit Solution Account and Kabayan Loan Credit Solution Profile are allowed to perform the loan application regardless direct or indirect to other financinf institutions and or business partners.
3.) Customer agrees and understands with acceptance that in order to make use of Kabayan Loan Credit Solution’s Services, he/she must first create a Kabayan Loan Credit Solution Account and consequently fulfill all information requested in the Kabayan Loan Credit Solution Profile.
4.) With the creation of the an Account, Customer affirms and allow that he/she is providing Company with all his/her Personal Information both for the creation of the Account and to enable availment of the Services on a purely voluntarily basis and he/she, with full knowledge and understanding of the same, consents to the use and processing thereof by Company for the purposes stated in these Terms and Conditions.
5.) Customer confirms that all User Content entered in the Kabayan Loan Credit Solution Account, Kabayan Loan Credit Solution Profile, and the Loan Application is an must be true and correct. Company will not be liable for any issues that may arise caused by false, incorrect, or invalid information, which the Customer has entered in his Kabayan Loan Credit Solution Account, Kabayan Loan Credit Solution Profile, and Loan Application. Customer holds Company, free and harmless, and shall indemnify Company, its affiliates and subsidiaries, and their directors, officers and/or employee against any and all claims, damages, actions, suits or other proceedings, and from any liabilities, costs, expenses (including legal fees), losses, and taxes arising from any party’s reliance upon the accuracy and correctness of such provided information. Such indemnification shall be without prejudice to Company’s right to see legal recourse against the Customer for the recovery of damages arising from such misinformation by the Customer.
6.) Customer hereby allows Company to process the User Content provided by him/her in his/her Kabayan Loan Credit Solution Account, Kabayan Loan Credit Solution Profile, and/or Loan Application, to fulfill the present Services of Kabayan Loan Credit Solution, such as, but not limited to, Database Upkeep and Maintenance, Borrower Verification, Loan Application and Loan Monitoring as well as future functionality upgrades such as Credit Scoring, and other similar functions.
7.) Customer understands, consents and acknowledges that any enhancement, improvement, development, new feature and/or new functionality to the Services shall form part of the Services and as such shall likewise be covered by these Terms and Conditions, and any subsequent revisions or amendments to the same.
8.) Customer expressly and unequivocally consents to Company keeping all of its supplied information in a database processed, operated and maintained by Company. Customer understands that the said database, and the contents thereof, is subject to the control and disposition of the Partner Bank. However, if the data was acquired by Company through the Customer’s Kabayan Loan Credit Solution Account or through other products of Company, whether such data was acquired before or after Customer has availed of Kabayan Loan Credit Solution, this data shall be owned by Company and shall be the Personal Information Controller of such data in accordance with the said law.
9.) Customer understands that by submitting a loan application, all User Content Customer entered in his/her Kabayan Loan Credit Solution Account, Kabayan Loan Credit Solution profile, and/or Loan Application are sent to the Partner Bank he/she applied to in order to process the loan application.
10.) Customer accedes that Company may seek the consent of the Bank to use the User Content gathered to improve Kabayan Loan Credit Solution’s current line of services, features, and functionalities.
11.) Customer understands that any Bank Content displayed in Kabayan Loan Credit Solution is provided by the Kabayan Loan Credit Solution Partner Banks and not by Company. Any information regarding a Customer’s loan application and loan status, whether approved, rejected, current, or in progress, are all provided by the respective bank/s the Customer applied to, and Company will not be liable or responsible for any false, inaccurate or incorrect Bank Content displayed in Kabayan Loan Credit Solution.
Moreover, Customer understands that Kabayan Loan Credit Solution does not warrant or guarantee approval of loans from the Partner Bank.
12.) Customer understands and agrees that by using Kabayan Loan Credit Solution’s Services, the Customer may receive service updates and/or messages, including SMS, E-mail, Push Notifications, and/or any data message transmission (the “Notifications”), informing him/her of enhancements, improvements, developments, features, functionalities, products, promotions, offers, advertisement and/or any other information relative to the Services of Kabayan Loan Credit Solution. Customer agrees to abide and be bound by the instructions and/or procedures of Company for such enhancements, improvements, developments, features, functionalities, products, promotions, offers, advertisement and/or any other information relative to the Services of Kabayan Loan Credit Solution. Customer shall have no claim, recourse or remedy against Company for any loss, damage and expense incurred arising from non-compliance with such instructions and/or procedures.
Customer shall hold Company free and harmless from any loss or damage which he/she may incur or suffer directly or indirectly out of or in connection with the Notifications, due to any reason whatsoever including but not limited to breakdown or malfunction of the computer or device, its terminal connection lines, data processing system or transmission line.
Company shall in no way be liable to Customer for any action/s it takes in reliance to Notifications purporting to be from Kabayan Loan Credit Solution, but does not in fact emanate from Kabayan Loan Credit Solution or any official Kabayan Loan Credit Solution application or SMS Alert number.
13.) Company makes no warranty that the functionality of the platform will be uninterrupted or error free, that defects will be corrected or that the platform or the server that makes it available are free of viruses or anything else which may be harmful or destructive.
14.) Company may share Customer’s personal information with:
Duly authorized third parties contracted by Company to assist or support it in delivering the Service to the Customer;
b.Lawful authorities in order to comply with law, government regulations or court order
15.) Company may also share Customer’s personal information with duly authorized third parties in order to:
Verify any information about the Customer (e.g., current or frequent or regular locations);
c. Detect, prevent and protect against fraud and any technical or security vulnerabilities; and
d. Comply with applicable laws and regulations, cooperate in any legal investigation and meet enforceable governmental requests;
e. Analyze credit rating and history.
16.) These Terms and Conditions may be amended, modified, added, and deleted by Company from time to time. In such an event, the newer version of the Terms and Conditions shall supercede the old, and all rights and obligations including the attendant covenants previously undertaken by the Customer, in so far as they are not in conflict with the more recent version of the Terms and Conditions, shall be deemed to have carried over to the newer version.
17.) The use of all User Content under these Terms and Conditions shall be in accordance with applicable laws of the Republic of the Philippines, and applicable rules and regulations of Government authorities, regulators, and agencies, including, but not limited Data Privacy and Anti Money Laundering laws such as R.A. No. 10173, R.A. No. 9160 as amended, and R.A. No. 10168.
Company is currently updating its existing contract templates to comply with the Implementing Rules and Regulations of Republic Act 10173 otherwise known as the Data Privacy Act of 2012 (the “Updates”). Should any of the provisions under this Agreement be in conflict with the said Updates, an addenda shall be issued forthwith to ensure Company is compliant with all its legal and regulatory obligations.