The following terms of use (“Terms of Use”) govern the access, viewing or use by any individual registered as user (hereinafter referred to as the “User” or “You” or “Merchant”) of the Kredivo application (hereinafter referred to as the “Application”) and Application Program Interface (hereinafter referred to as the “API”) and all its related features and functionalities (hereinafter referred to as the “Service”).  The Application and API are owned and operated by KREDIVO PHILIPPINES FINANCING CORP. (formerly Kredivo Philippines Lending Corp.), a financing company regulated by the Securities and Exchange Commission (“SEC”), with its principal office at 20F Arthaland Century Pacific Tower, 4th Avenue corner 30th Street, BGC, Taguig City (hereinafter referred to as “Kredivo” or “Us”). 

By accepting the terms herein, or by accessing, viewing or using the Service, You agree to be bound by these Terms of Use and they constitute Your binding legal obligations towards Kredivo. These Terms of Use may be modified at any time by Kredivo by posting the changes on its website, and You agree that it shall be Your responsibility to ascertain the changes to the Terms of Use by visiting the Terms of Use from time to time. Any modified terms shall be applicable to Your use of the Service without need for any further consent and Your continued use of the Service shall be deemed Your consent and acceptance thereto. If You do not agree to these Terms of Use, You should not access, view or use the Service.

The terms relating to the use of the Service in these Terms of Use must be read and understood in conjunction with, and shall become an integral part of, the Use of the Kredivo User Onboarding Agreement (“User Onboarding Agreement”), entered into and signed upon the creation of a Kredivo account (“Account”). Unless specifically defined in these Terms of Use, any undefined terms will refer to the terms set out in the User Onboarding Agreement.

 

1. Definitions

“User Information” shall mean any information provided by the User via the Application including but not limited to name, date of birth, identity proof, telephone number, email address, physical address and other similar details.

“Privacy Policy” shall mean an explanation of how User Information will be handled in relation to the Service contained in the Application. 

2. API Access

Merchant partners may access their data via API. Any use of the API, including use of the API through a third-party product that accesses the Service, is bound by the terms of this agreement plus the following specific terms:

• You expressly understand, agree, and undertake to hold Kredivo free and harmless from any liability for damages or losses resulting from Your use of the API or third-party products that access data via the API.

• Abuse or excessively frequent requests to the Service via the API may result in the temporary or permanent suspension of Your account’s access to the API. Kredivo, in its sole absolute discretion, shall determine abuse or excessive usage of the API. Kredivo will make a reasonable attempt via email to warn the account owner prior to suspension.

 

3. Application Access and User Registration

General:

You agree and understand that the Application and its contents are intended for people who are of the age of 18 years or above. You hereby represent that You are 18 years of age or above,  competent to enter into contract, and legally permitted to use the Service. You understand that this Application is intended for individual personal use only.

To the extent that You are required to provide information in order to use the Application, You understand and undertake that You will provide truthful and accurate information including User Information as part of the sign up and application process.

To the extent that You have provided the User Information to use the Application, You represent that You have all rights and consents required to provide the information that You have provided into the Application, including the User Information and represent that it is true and accurate.

All User Information will be used and processed in accordance with these Terms of Use, the Privacy Policy and the User Onboarding Agreement. You acknowledge and agree that You have been provided with unrestricted access to the Privacy Policy and the User’s Agreement and that it is Your responsibility to read and understand the Privacy Policy and the User Onboarding Agreement. In the event that You disagree with anything set forth in the Privacy Policy, it shall be Your responsibility to bring the same to Kredivo’s attention using the notification mechanism set out in the Privacy Policy.

You hereby grant rights to Kredivo to use the User Information for the furtherance of these Terms of Use and to store and use it in a manner (either singularly or as an aggregate with information provided by other users on the Application) that improves features and functionalities of the Application or to conduct any other analytics in relation to such information.

For enabling the Service, Kredivo may partner with one or more banks or financial institutions (“Financial Partner”). Users agree and undertake to abide by any terms and conditions as may be specified by such Financial Partner.

 

You shall be fully and absolutely responsible for Your actions while using the Application including those conducted under the username assigned to You.

You understand and agree that Kredivo may, in its sole absolute discretion, terminate Your access to the Application without notice and You hereby waive any right to claim access to the Application or any other claim that You may have. Any data of Your usage may be retained or deleted at Kredivo’s sole discretion.

 

4. Permitted Use

The Application is currently designed to provide You either one or a combination of the following: a credit health checking or a personal loan account or the ability to make a purchase now and pay later.

You agree that You will use the Application only for the aforesaid purpose and in accordance with these Terms of Use. You will use the Application and any information available in accordance with all applicable laws and regulations.

 

5. Prohibited Use

In relation to the use and access of the Application along with its contents and features, You agree and undertake not to:

• re-sell the usage or services of the Application;

• upload, transmit or publish any information on behalf of a third party, including any User Information of any person other than You;

• impersonate another person;

• upload, transmit, email or publish any information or material which is illegal, harmful, threatening, abusive, libellous, obscene, derogatory (in any form), defamatory or libellous, discriminatory, racially or ethnically objectionable or contains pornography or encourages money laundering or gambling;

• contain contents which are racially or ethnically inappropriate or contains pornography or encourages money laundering or gambling;  

• violate the privacy of any person;

• upload, transmit, email or publish any information or material which is harmful to minors;

• upload, transmit, email or publish any information or material which threatens the unity, integrity, defense, security or sovereignty of the country in which You are resident or accessing the Application from, friendly relations with foreign countries, or public order or causes incitement to the commission of any cognizable offence or prevents investigation of any offence or is insulting any other nation;

• upload, transmit or publish any viruses or other malware, to corrupt, interrupt, limit, destroy or otherwise impact the Application, Kredivo’s computer systems, or the computer systems of other Users or third party systems;

• upload, transmit or publish anything which You do not have the rights to or any material which infringes the intellectual property rights (in whatever form) of any third party;

• reverse engineer, decompile, disassemble, decrypt, de-obfuscate, unmask all or any portion of the Application;

• interfere with, modify, disrupt or disable features and functionalities or security controls of all elements, including any such mechanism used to restrict or control the functionality, or defeat, avoid, bypass, remove, deactivate or otherwise circumvent any software protection or monitoring mechanisms of the elements and services within the Application;

• reproduce, duplicate, copy, sell, resell or exploit any portion of the Application;

• use the Application in any manner which is not permitted under these Terms of Use or in any manner which is illegal or unethical;

• access the Application in any unauthorized manner, including by hacking or using login credentials of any other User or using BOTS;

• use the Application for any unauthorized marketing purposes or for sending any unsolicited materials or advertisements;

• use the Application for any purpose that is prohibited under applicable laws.

 

6. Intellectual Property

You agree and understand that:

• the contents of the Application including but not limited to the information, logos, designs, databases, arrangement of databases, user interfaces, response formats, software, audio, pictures, and icons, are the sole properties of Kredivo or its licensors. All intellectual property in and to the Application and its contents and functionalities shall vest solely with Kredivo or its licensors.

• Save for the limited right to access and use the Application in accordance with the Terms of Use, on a non-exclusive and non-transferable basis, there are no other rights being granted to You in the Application or any of the contents and functionalities.

• To the extent required, You grant to Kredivo a non-exclusive, royalty free, worldwide, transferrable, sub-licensable right to store, display, demonstrate, publicly perform, use, reproduce, format, and distribute any contents, posts, emails, uploads, materials, trademarks, trade names and any of Your intellectual property which You have provided to Kredivo or on the Application.

• Any content uploaded by You may be displayed and reproduced by Kredivo in any manner it deems fit.

• You have no right to make any copies of the whole or part of this Application or any of the content therein.

• You have no right to remove, modify (including removing any copyright notices or proprietary markings) any part of the Application save for any User Information that belongs to You.

• You have no right to use any search mechanisms other than that provided on the Application and You will not use any web-crawler or any data harvesting tools to harvest data in any form from the Application.

7. Disclaimers

Kredivo provides no guarantee for validity and accuracy of any information published on the Application. Further, You understand and agree that it is at Your own discretion and based on Your sole judgment that You use the Application.

Kredivo does not represent in any manner that:

• the information, data or contents of the Application are accurate.

• the Application will be available at all times and will operate error free or that there will be uninterrupted access and service.

• the integrity of the information on the Application or information You upload will be maintained.

• the Application or any content is free from viruses and other malware.

You agree and understand that the contents and services on the Application are available on an “as is” basis. You expressly hold free and release Kredivo, its directors, officers and representatives from any cost, damage, liability or other consequence of any use of the Application by You or the actions of the Users of the Application.

Subject to applicable laws, Kredivo hereby disclaims all warranties, whether express or implied, in relation to the Application, its contents and functionalities, including but not limited to warranties of merchantability or fitness for a particular purpose. Where applicable laws do not permit the disclaimer of warranties to the extent detailed above, the said warranties are disclaimed to the maximum limit permitted by applicable laws.

Kredivo reserves the right to remove any content posted on the Application and assumes no liability that may arise therefrom to You or any third party.

The Application may contain links to third-party applications. Kredivo shall not be responsible in any manner for the contents of the third-party applications and if You choose to use the link to view the third-party applications, You choose to do so at Your own risk. Kredivo does not endorse the contents nor in any manner represent the accuracy or correctness of information on such third-party applications.

 

8. Usage Fee

No fee shall be charged for the use of the Application per se, but one-time and processing fees may apply if You use the Application.

 

9. Indemnity

You agree to indemnify and hold harmless Kredivo, its directors, shareholders, officers, employees and agents, against any claims, losses, damages or costs arising from (i) Your use of the Application and its contents, (ii) Your breach of these Terms of Use or (iii) any acts or omissions of Yours in relation to the Application and the use thereof, including but not limited to postings.

 

10. Limitation of Liability

The aggregate liability of Kredivo to You or anyone, whether in contract, tort, negligence or otherwise, howsoever arising, whether in connection with these Terms of Use, Your access and use of this Application and its contents and functionalities or for any reason related to the operation of the Application, shall not exceed the equivalent of PHP1,000.00 (One Thousand Pesos). In no event shall Kredivo be liable for any loss of profits (anticipated or real), loss of business, loss of reputation, loss of data, loss of goodwill, any business interruption or any direct, indirect, special, incidental, consequential, punitive, tort or other damages, however caused, whether or not it has been advised of the possibility of such damages.

 

11. Complaints

Kredivo takes matters related to intellectual property rights and privacy seriously. Should You have any complaints regarding the Application, including but not limited to abuse and misuse of the Application, copyright infringement and the like, or any issues related to data privacy, please report the same to support.ph@kredivo.com.

 

12. General

Termination: Kredivo reserves the rights to terminate Your access to the Application at any time, in its sole absolute discretion. If Kredivo determines that You have breached these Terms of Use, Kredivo shall be entitled to terminate Your use and access of the Application with immediate effect. You acknowledge Kredivo’s rights and waive any claim that You may have arising from such termination. Notwithstanding the termination of Your access, all provisions which by their nature are intended to survive, shall survive termination and continue to be applicable.

Force Majeure: In no event shall Kredivo be liable for any acts beyond its control or for any acts of God.

Access: This Application is intended for viewing in the geographies of Indonesia, Singapore,  Thailand, and the Philippines initially and later on in all the geographies of Southeast Asia. Kredivo does not make any claim that the Application and its contents may be lawfully viewed or accessed in the jurisdiction You are viewing it in. You are solely responsible for complying with laws applicable to You.

Waiver: No waiver of any provision of these Terms of Use shall be binding unless executed and notified by Kredivo in writing to You.  No waiver of any of the provisions of these Terms of Use shall be deemed or shall constitute a waiver of any other provisions and no waiver shall constitute a continuing waiver. You hereby waive any present or future claims You have against Kredivo arising from Your use of the Application or any other users’ conduct.

Entire Agreement: These Terms of Use, the Privacy Policy and any other agreements You execute with Kredivo as relevant, shall constitute the entire agreement between You and Kredivo for the use of the Application. Any modification to these Terms of Use shall be binding once posted by Kredivo on the Application or its website.

Severability: If any provision of these Terms of Use is determined to be invalid or unenforceable, it will not affect the validity or enforceability of the other provisions of these Terms of Use, which shall remain in full force and effect. 

Governing Law: These Terms of Use are governed by the laws of the Republic of the Philippines. You irrevocably consent to the exclusive jurisdiction and venue of the competent courts located in Metro Manila for all disputes arising out of or relating to these Terms of Use.

 

Disclaimer: NEITHER KREDIVO NOR ITS SITES OR SERVICES ARE INTENDED TO PROVIDE LEGAL, TAX, FINANCIAL, OR INVESTMENT ADVICE. KREDIVO IS NEITHER A REGISTERED CAPITAL MARKET INTERMEDIARY NOR A FINANCIAL ADVISOR BUSINESS. UNLESS SPECIFIED OTHERWISE, ANY CONTENT KREDIVO PROVIDES TO YOU IS BASED SOLELY ON THE INFORMATION PROVIDED BY YOU, AND MAY NOT TAKE INTO ACCOUNT INFORMATION THAT MAY BE AVAILABLE IN THE CONTEXT OF A MORE DETAILED EXAMINATION OF YOUR PERSONAL FINANCIAL SITUATION. ACCORDINGLY, BEFORE MAKING ANY FINANCIAL DECISION OR IMPLEMENTING ANY FINANCIAL STRATEGY, YOU MUST OBTAIN ADDITIONAL INFORMATION AND CONTACT YOUR BANKER, ACCOUNTANT OR OTHER FINANCIAL ADVISERS WHO ARE FULLY AWARE OF YOUR INDIVIDUAL CIRCUMSTANCES.