Service Agreement
I. Customer Agreement
When using DIRECT LOAN’s services, please read carefully and comply strictly with these terms and conditions, and related terms published by DIRECT LOAN.
The following terms and conditions are applicable to individual users.
These terms and conditions may be modified at any time in accordance with applicable laws and will be published via DIRECT LOAN’s service website.
By creating an account with DIRECT LOAN or using any of the Services that DIRECT LOAN offers, you acknowledge that you have read, agreed to and accepted all of the terms and conditions set out in this agreement as well as DIRECT LOAN’s Privacy Policy. These Terms are applicable to all of DIRECT LOAN’S products and services irrespective of the delivery platform or device you use to access them.
II. Service Description
1. The service provided to the user under these terms and conditions are personal loan service carried out via DIRECT LOAN’s Mobile Application. The user can use DIRECT LOAN’s mobile App to look up loan transaction information including but not limited to loan history, loan amount, duration, period, repayment time, repayment amount and loan status.
2. DIRECT LOAN may add, or modify the loan productions ,including loan amount, loan duration, loan period and loan interest rates upon permission by the competent authorities. DIRECT LOAN will notify users of such changes via DIRECT LOAN’s mobile app or service website.
3. DIRECT LOAN reserves the right to reject a loan application at any time prior to DIRECT LOAN’s confirmation of a loan.
4. DIRECT LOAN’S reserves the right to cancel any loan request if the said loan application fails to pass DIRECT LOAN’s Risk Management, or if the user is unable to provide relevant supporting documentation or explanation requested by DIRECT LOAN.
III. Code of Conduct and User Obligations
1. The user shall use DIRECT LOAN’s loan service and related functions on behalf of himself or herself. All acts conducted on DIRECT LOAN’s loan service by the user are received by DIRECT LOAN’s system in real time, and DIRECT LOAN’S shall execute such instructions either in real time or in batches. Once the user confirms a loan request, the user may not cancel, or modify such loan application that has been sent to the DIRECT LOAN’s system unless approved or allowed by DIRECT LOAN. If the user really need to cancel the loan application, please contact our customer service to apply for cancellation manually.
2. The user shall comply with the laws of the Philippines and all regulations applicable to the use of the loan service provided by DIRECT LOAN. The user warrants that the user shall not use the loan service to infringe the rights of others or for any illegal purpose, such as financing of terrorism, dissemination of virus, theft of data, internet fraud, or inciting others to commit crimes.
3. If the information and personal data provided by the user is outdated, inaccurate, or incomplete, the user bears the responsibility for any resulting losses or damages incurred by the user, as well as those that may be incurred by DIRECT LOAN.
4. The user shall make certain that the contents of documents and materials provided or transmitted by the user are consistent. In any case where either DIRECT LOAN or the user discovers any error or inconsistency, such party is required to immediately notify the other party, and take appropriate steps to make necessary corrections.
5. The user shall only use secure and private personal devices and equipment to conduct loans in order to reduce the likelihood of illegal intrusion, access, modification, and damage to systems and records as well as the damages or losses incurred thereby.
6. The user acknowledges and agrees that all loan service may be processed without any signed invoices, live signatures, or other signed written contracts.
7. All loan service provided via DIRECT LOAN’s mobile App is collected, filed and recorded by DIRECT LOAN’s system automatically in the form of electronic transaction records. If the user discovers any errors or inconsistency in the transaction records, the user shall notify DIRECT LOAN immediately.
8. In order to maintain transaction security and ensure that the concerns of money laundering or financing of terrorism are eliminated, DIRECT LOAN may set per transaction, daily, or monthly salary exchange and settlement amount limits as deemed necessary with respect to each user. DIRECT LOAN may adjust such salary exchange and settlement amount or transaction frequency limits at any time based on each user’s usage of the service.
IV. Disclaimer and Limitation of Liability
The service provided by DIRECT LOAN, unlike general consumer goods, cannot be easily undone. DIRECT LOAN shall not take any responsibility for damages, which are profits losing, revenue losing, business losing, opportunities losing, data losing, Indirect or causation loss.
In case of a failed loan disbursement due to incorrect information (such as incorrect name, phone number and the account ) provided by the user, the user shall be liable for any additional transaction fees and administration fees in processing such transaction.
In any case that the user’s loan funds were credited to the wrong account or recipient as a result of a mistake made by such user, DIRECT LOAN will be under no obligation to recover the funds or resend the funds to the correct account or person.
The user acknowledges that delays in disbursement and repayment may occur. The user also acknowledges that DIRECT LOAN operates an online platform that could be subject to technical issues. DIRECT LOAN also uses services of intermediaries which are beyond DIRECT LOAN’s control. By using any of DIRECT LOAN’s services, the user agrees that DIRECT LOAN will not be liable for any loss suffered by the user or other person as a result of any delays of the completion of the services DIRECT LOAN offers.
DIRECT LOAN’S reserves the right to refuse to accept a user’s loan request without giving any reasons and without any liability to the user for any resulting loss or damages incurred by the user or any other party.
V. Governing Law
The user acknowledges and agrees that DIRECT LOAN has the right to audit the user’s loan application in accordance with the Philippines laws and regulations. If DIRECT LOAN discovers any suspicious transaction, DIRECT LOAN is obligated to report such suspicious transactions to equivalent applicable domestic, or organizations.
VI. Termination of Service and Termination of Agreement
The user may terminate the loan service by notifying DIRECT LOAN’s customer service center via customer service. Upon receipt of such termination notice, DIRECT LOAN shall confirm such termination by customer service chat or email. The user shall not be allowed to terminate the service while any loan in the user’s account has not been repaid. Any damages or penalties for terminating the service under such circumstances shall be the user’s responsibility.
DIRECT LOAN reserves the right to suspend or terminate the provision of loan service, along with all services provided by DIRECT LOAN mobile app if the user does any of the following: a. The user uses his/her own account to apply a loan on behalf of someone else.b. The user refuses to submit additional supporting documents or explanations required by DIRECT LOAN to carry out a loan application. c. DIRECT LOAN deems the transaction to be suspicious of an act of money laundering or terrorism financing. d. The user doesn’t pay back on time.
DIRECT LOAN is not required to give prior notice when suspending or terminating user accounts.
DIRECT LOAN may refuse the creation of duplicate accounts for the same user. In cases where duplicate account(s) are detected, DIRECT LOAN reserves the right to terminate the account(s) without prior notice.
DIRECT LOAN reserves the right to retain the user’s account information after such account has been closed or suspended for business or regulatory compliance purposes.
DIRECT LOAN reserves the right to reject any new user at its absolute discretion.
VII. Personal Information Protection; Security of Loan Information
DIRECT LOAN shall properly store personal information that has been collected or obtained from the user in accordance with DIRECT LOAN’s Privacy Policy. DIRECT LOAN shall also process and use such personal information in accordance with the Personal Information Protection Act.
DIRECT LOAN shall ensure the confidentiality and security of the information and shall be responsible for ensuring the accuracy in the transmission, exchange, or processing of such information.
With respect to matters regarding the collection, processing, usage, and transmission of the user’s personal information, and the rights of the user therein, please refer to the Privacy Policy.
