FT LENDING MASTER PHILIPPINES CORP.

User Terms and Conditions

Last Updated: July 24, 2024

These User Terms and Conditions (“Terms and Conditions” or “Terms”) constitute the user agreement between you and FT Lending Master Philippines Corp. (the “FT Lending”, “Company”, Us”, “We” or “Our”), a corporation duly registered with the Securities and Exchange Commission (“SEC”) as a lending company with Certificate of Authority No. 3025.

Conditions of Use

These Terms and Conditions apply to your use and access of our online lending platform, “FT Lending” (the “Platform”) and availment of any of the Company’s Products and Services (the “Products and Services”) in the Platform. You confirm that you have read, understood and accept to be bound by these Terms and Conditions. If you do not agree with this Terms and Conditions, please click “Back”. Please note that you will not be able to access the Products and Services.

By accessing and downloading the Platform and opening an account with FT Lending (the “Account”), you agree to comply with and be bound by these Terms governing the Products and Services and you affirm that the Terms herein are without prejudice to any other right that FT Lending may have with respect to the Products and Services and/ or Account in law or otherwise.

You likewise agree to be bound by any and all laws, rules, regulations, and governmental issuances applicable to FT Lending and its Products and Services, now existing or which may hereinafter be made available to you in the Platform.

You likewise agree that the provisions, disclosures, and disclaimers set forth herein are fair and reasonable and that your agreement to follow and be bound by these Terms is voluntary and is not a result of fraud, duress, or undue influence exercised upon you by any person or entity.

These Terms incorporate by reference the Privacy Policy https://www.ftlending.ph/privacy_policy.html which sets out the terms on which we process any personal data we collect about you, or that you provide to us. By using and availing our Products and Services, you consent to such processing, and you promise that all data provided by you is accurate.

FT Lending reserves the right to amend, change, and/or modify these Terms from time to time without any advance notice (“Updated Terms”). Should there be material changes, you shall be promptly notified via e-mail and/or the Platform. You are strongly recommended to regularly review and read these Terms. Any changes to these Terms will be effective immediately upon posting in the website and in the Platform, with an updated effective date. By your continued use of FT Lending after any changes have been made, you acknowledge your agreement to the Updated Terms and all the changes made therein. If you do not agree with the Updated Terms, please refrain from using the Platform and from availing the Products and Services, as applicable; provided, that you acknowledge and agree to be bound by the Terms in force prior to the Updated Terms to the extent that you have any outstanding liabilities to the Company in relation to your availed Products and Services and until full payment of such outstanding liabilities to the Company.

PLEASE READ THESE TERMS CAREFULLY AS THEY CONSTITUTE A LEGAL AGREEMENT BETWEEN YOU AND FT LENDING.

Definitions

As used herein, the following terms and expressions shall have the meanings as specified below for your reference and better understanding:

“Borrower” means an individual availing of FT Lending’s loan product and having entered into a Loan Agreement with FT Lending;

“Business Day” means a day other than a Saturday, Sunday or national or public holiday recognized by commercial banks in the Philippines;

“CIC” means the Credit Information Corporation;

“Disclosure Statement” means the statement given by the Company to a Borrower before they can proceed with the loan arrangement, setting forth the total amount to be loaned which includes the principal, interest, and fees in connection with the loan, and all other items required pursuant to the Truth in Lending Act (Republic Act No. 3765) and the Financial Products and Services Consumer Protection Act (Republic Act No. 11765), the issuances of the SEC, and the Law in general;

“Late Charges” means the late fees applicable to you if you fail to make any payments due to FT Lending at the due date for such payment;

"Law" means any applicable law, statute, ordinance, rule, regulation, order, judgment, injunction, decree, jurisprudence enacted or promulgated by any Philippine government authority or agency;

“Loan” shall refer to the outstanding liability of the Borrower to FT Lending – which includes the Loan Amount, as well as any interest fees, and charges – pursuant to the Borrower’s Disclosure Statement and Loan Agreement with FT Lending as availed by the Borrower through the Platform;

“Loan Amount” means the principal amount made or to be made by FT Lending to you under these Terms from time to time through the Platform;

“Loan Agreement” means the agreement entered by and between you and FT Lending for a single loan transaction where FT Lending shall be the Lender and you shall be the Borrower;

“Platform” refers to “FT Lending”, the online lending platform trade/style names of the Company accessible via https://www.ftlending.ph;

“Products and Services” refers to the products and services being offered by FT Lending in its Platform;

“SEC” refers to the Philippine Securities and Exchange Commission;

Personal Information

By registering with us, you are accepting these Terms and likewise consent to the collection, use, disclosure, holding, protection and retention of your personal information, which includes, but is not limited to the following:

• First Name

• Last Name

• Gender

• Phone number

• Residential Address, including street name, avenue or road name as applicable; exterior and, if applicable, interior number; neighborhood or residential area; city, municipality, or similar political division; city or town; federative entity, state, province, or similar political division as applicable; postal code, and country

• Marital Status

• Email Address (personal and work)

• Occupation, profession, activity, or business sector

• Name of Employer, status of employment, salary

• Whether user has work email address

• Government-issued Identification

• Selfie

• Digitized autograph signature

• Nationality

• Citizenship

• Date of Birth

• Place of Birth

You likewise expressly authorize, consent, and permit FT Lending to use and conduct verification using all necessary legal means to establish the accuracy and completeness of the information you have provided, for the purposes set forth herein, or to the extent FT Lending otherwise determines is necessary and/or advisable, in its sole discretion, to comply with the Law. This includes verification with the following: (a) relevant government agencies, credit information bureau, banking, or credit industry association, credit information service provider, and credit/loan provider, including the CIC and other lenders as authorized by the CIC, and credit reporting agencies duly accredited by the CIC; and (b) affiliates and subsidiaries, third-party partners or service providers of FT Lending and their respective officers, employees, agents and authorized representatives.

We reserve the right to request for additional information to aid in account verification, or in relation to your application for a Loan at any time. FT Lending may, at its sole discretion, decline your application for a Loan in case of failure to provide such information within the time required. Failure to provide the evidence of your identity may be deemed by FT Lending as a possible fraudulent attempt to access the Platform and/or any of its Products and Services.

You can request to cancel your Account by requesting it from FT Lending’s Customer Service. Once your Account is cancelled, you can no longer log in to your Account in the Platform.

FT Lending reserves the right to require periodic updates of your Know-Your-Customer (“KYC”) information. You agree to provide the necessary information, when requested, in compliance with the applicable Law.

You agree that in the event of any misinformation, misrepresentation, or failure on your part to disclose required information may cause FT Lending to (a) immediately terminate your account; (b) reject your application; (c) cancel its approval if already made; or (d) demand full payment of the Loan if already received, including the applicable interests and charges (if any).

User Account

By creating and maintaining an Account, including the use of any product, service and facilities in the Platform, you represent and warrant that you are of legal age, in good credit standing, and has the legal capacity to enter into binding agreements. You acknowledge that in availing of any product, service and facilities in the Platform, FT Lending relies on the personal information you provided.

You can only have one (1) Account associated with one (1) mobile number. You understand and acknowledge that you are prohibited from registering multiple accounts in the Platform and availing of any product, service and facilities in the Platform through such multiple accounts. Any violation of this obligation will result in the automatic suspension of all of your multiple accounts and the demand of full payment of the Loan already received through such multiple accounts, including the applicable interests and charges (if any).

FT Lending’s acceptance of your loan application will be displayed in the Platform. FT Lending reserves the right to decline your loan application or to revoke the same at any stage at FT Lending’s sole and absolute discretion and without assigning any reason or any notice thereto. FT Lending reserves the right to issue or decline to issue a loan and/or vary the terms of the loan depending on FT Lending’s assessment of your credit profile from time to time. The terms of the loan and any fees payable in relation to each loan application will be displayed on the Platform, the Disclosure Statement and your Loan Agreement with FT Lending.

You hereby irrevocably authorize FT Lending to act on all requests received from you (or purportedly from you) through the Platform and to hold you liable in respect thereof. FT Lending may nevertheless carry out any requests, including those related to a loan application made in the Platform in FT Lending’s sole and absolute discretion.

FT Lending shall be deemed to have acted properly and to have fully performed all the obligations owed to you notwithstanding that the request may have been initiated, sent or otherwise communicated in error or fraudulently, and you shall be bound by any requests on which FT Lending may act if FT Lending has in good faith acted in the belief that such instructions have been sent by you.

You agree to indemnify, and shall release, FT Lending and its directors, officers, employees, agents and representatives and those of its affiliates, from and against all claims, losses, damages, costs and expenses howsoever arising in consequence of, or in any way related to FT Lending having acted (or failed to act) in accordance with the whole or any part of any of your requests.

You acknowledge that, to the full extent permitted by law, FT Lending shall not be liable for any unauthorized drawing, transfer, disclosure, or any activity or any incident on your account by the fact of the knowledge and/or use or manipulation of your Account PIN, password, ID or any means whether or not occasioned by your negligence.

In the event of any conflict between any request received by FT Lending from you and these Terms, these Terms shall prevail.

Account Security and Confidentiality

We secure and protect your personal information with appropriate safeguards to ensure privacy, prevent loss or unauthorized use, all in compliance with applicable law. You hereby acknowledge that you provide your Personal Information at your own risk. You are solely responsible for maintaining the confidentiality of your username, password, account and any other login or authentication and validation information you created or provided to FT Lending and its Platform, including any mobile one-time password (i.e. one-time-password sent to your registered phone number that is valid for only one login session or transaction and in a certain period of time, to authenticate and identify you.) You shall not share your FT Lending Account or login information, nor let anyone else access your Account or do anything else that might jeopardize the security of your Account. By creating, registering, and maintaining your Account, all activities under your Account shall be deemed as activities performed by you and any obligations arising therefrom shall be your responsibility.

In the event you become aware of or reasonably suspect any breach of security, including without limitation any loss, theft, or unauthorized disclosure of the login Information, you must immediately notify us and modify your login information.

FT Lending will not be liable for any loss or damage that you may incur as a result of unauthorized access or use of your Account, either with or without your knowledge. FT Lending shall not be subject to any rights or claims from third parties and shall not be held liable for any damages caused by any act omission by a third party. We reserve the right to remove or reclaim any username at any time and for any legal reason, including but not limited to claims by a third-party that a username violates the third-party’s rights.

Restrictions on Use

You agree to abide by these Terms and the Law in your access and use of the Platform, and availment of FT Lending’s Products and Services.

In addition, you agree that you will not do any of the following:

· register for more than one account at any given time, using more than one email address, or register for an account on behalf of an individual other than yourself or on behalf of any group or entity;

· post or otherwise make available content, or take any action in the Platform, that may constitute libel or slander or that infringes or violates someone else’s rights or is protected by any copyright or trademark, or otherwise violates the law;

· post or otherwise make available content that in the Company’s judgment is objectionable, such as content that is harmful, threatening, inflammatory, obscene, fraudulent, invasive of privacy or publicity rights, hateful, or otherwise objectionable, or which restricts or inhibits any other person from using or enjoying Platform, or which may expose the Company or users of the Platform to any harm or liability of any type;

· post or otherwise make available any unsolicited or unauthorized advertising, solicitations, promotional materials, or any other form of solicitation;

· use the information or content on the Platform to send unwanted messages to any other user;

· impersonate any person or entity, or falsely state or otherwise misrepresent yourself, your age, or your affiliation with any person or entity;

· post or otherwise make publicly available on the Platform any personal or financial information of any third-party;

· solicit passwords or personally identify information for commercial or unlawful purposes;

· use the Platform or the Products and Services in any manner that could damage, disable, overburden, or impair the Platform;

· harvest or collect email addresses or other contact information of other users from the Platform by electronic or other means, including the use of automated scripts; and/or

· post or otherwise make available any material that contains software viruses or any other computer code, files, or programs designed to interrupt, destroy, or limit the functionality of any computer software or hardware or telecommunications equipment.

Loan, Interest Fees and Other Charges

If you wish to avail of any of the Products and Services in the Platform, you may be asked to supply certain information relevant to your loan application including your name, address, email address, contact number and other relevant information about you.

The Loan Amount, interest rate, and any other fees as may be imposed by FT Lending in relation to your loan shall be displayed in the Platform, the Disclosure Statement and your Loan Agreement with FT Lending. FT Lending shall be entitled to set and charge a service fee, in connection with your use of the Products and Services, which may, from time to time be amended or updated. If FT Lending decides to update its service fee (as applicable), the service fee payable on any new application will be displayed in the Platform, the Disclosure Statement and your new Loan Agreement with FT Lending. FT Lending will use reasonable endeavors to try to notify you of any changes in relation to its service fee within a reasonable period before such changes are implemented including displaying notices of the changes in the Platform, via SMS, FT Lending’s websites or other advertising materials.

You will choose the loan and loan duration from the options that FT Lending will provide you, subject to adjustments based on the result of FT Lending’s verification process. Subject to the verification and review of the documentary requirements submitted, the loan extended to you may be repaid through various installment frequencies (i.e. two, three, four installments) and repayment schedules, which you can select at your discretion.

The Loan Amount issued by FT Lending is to be used by you for legitimate purpose only. The Loan Amount shall be used by you exclusively for the reason as disclosed to FT Lending via the Platform.

You acknowledge that you will be bound by and undertake to comply with the terms of the Disclosure Statement, which contains, among others, the following information (“Disclosure Statement”):

a. your personal information;

b. Loan duration;

c. Loan Amount;

d. Charges and deductions (e.g. processing fee and applicable taxes);

e. Loan proceeds [Loan Amount less charges and deductions];

f. Schedule of payment;

g. Interest rates;

h. Collateral, if any; and

i. Late payment fee, if applicable.

Once your Loan application is accepted, you shall not be entitled to cancel the Loan or to refuse to accept the Loan proceeds, except for cases when such refusal entails the application of charges for cancellation, refusal or prepayment as may be stipulated by us.

You agree to pay the sum payable under the Disclosure Statement and other fees as may be imposed or mandated by government agencies relating to the Loan.

You further agree that FT Lending may adjust the details in the Disclosure Statement should changes be mandated by applicable laws, rules, and regulations or at FT Lending’s sole discretion based on its policies. You agree that any adjustment shall be binding upon your receipt of a written notice from FT Lending specifying these adjustments. In case you disagree with the adjustments, you have the option to fully pay the Loan, including applicable fees, interests, late payment fees, and other charges, within thirty (30) calendar days from receipt of the notice from FT Lending.

The Loan proceeds shall be released to you through your chosen method and shall be reflected in your Account, exclusive of interest, fees and charges.

You acknowledge that the Loan's proceeds or any part(s) thereof shall be deemed to have been received on the date the Loan proceeds are credited and reflected in your Account. If FT Lending receives no complaint from you within three (3) business days from the date the Loan proceeds are reflected in your Account, you are deemed to have received the full and correct Loan amount and have fully acknowledged and accepted all the details specified in the Disclosure Statement.

FT Lending reserves the right to cancel and recall the approved Loan if the Loan cannot be fully disbursed to you for any reason. In case of partial disbursement, you shall pay the amount due, interest, and other charges applicable to the disbursed Loan under these Terms.

Loan Payments

You shall repay the Loan, in accordance with the payment schedule set out in the Loan Agreement and Disclosure Statement. All payments to be made by you under the Loan Agreement shall be made in full, free and clear of and without any deduction or withholding whatsoever.

FT Lending shall notify you of the due date of the Loan Amount, interest fee, service fee, and latecharges, as may be applicable through the Platform. If you have selected a Loan product with installment payments, the amount due per installment as well as the repayment schedule shall also be displayed in the Platform.

If you fail to make any payments at the due date for payment, FT Lending will be authorized to apply the late charges and Interest on such amount due at a rate communicated to you at the time of the Loan offer and in the Loan Agreement. For any availed Loan product(s) availed by you payable through installments, the failure to pay any of the installment/s within the corresponding due date/s shall be subject to a late charges per late installment payment. For the removal of doubt, late charges shall apply on each installment payment due to FT Lending.

You hereby consent and agree that FT Lending may withhold amounts in your Account if any tax authority requires FT Lending to do so, or FT Lending is otherwise required by law or pursuant to agreements with any tax authority to do so, or if FT Lending needs to comply with internal policies or with any applicable Law, which includes an order or sanction of a tax authority.

You hereby consent and agree to pay other charges as authorized by Law which are enumerated in detail on the loan application offer pages within the Platform, including but not limited to the documentary stamp tax and other expenses necessary for the due execution, delivery, enforcement of the Loan Agreement.

Default

Each of the following shall constitute an Event of Default:

a. Non-payment of the Loan Amount, interest, service fee, and late fee, as may be applicable, when due and payable in accordance with the terms of the Loan Agreement; or with respect to any amount other than the Loan Amount, interest fee, service fee, and late fee, as may be applicable, your failure to pay within thirty (30) days from receipt of payment notice for said outstanding amount;

b. Failure to comply with any of the covenants or obligations expressed or implied under these Terms, Loan Agreement and Disclosure Agreement;

c. Bankruptcy, insolvency, receivership, levy on execution, garnishment, or attachment, or in case that any litigation or proceedings similar to those enumerated previously are initiated by or against you affecting your repayment capacity or financial stability;

d. Where FT Lending reasonably believes that the Loan Amount has been used by you for some unlawful purpose;

e. When any information you provided to FT Lending is found to be spurious, fraudulent, misrepresented, inadequate, incomplete, or incorrect in any material detail;

f. Occurrence of an event which, in FT Lending’s opinion, affects your ability to perform your obligation under the Agreement;

In case of occurrence of an Event of Default, the outstanding Loan and all applicable fees and charges shall immediately be due and demandable without prior demand and prejudice to other rights and remedies available to FT Lending under these Terms and Conditions and applicable laws.

At any time after an Event of Default has occurred and is continuing, FT Lending may, without prejudice to any other right or remedy granted to it under any law:

a. terminate the Loan Agreement;

b. declare the Loan (and all accrued interest fee, service fee, late fee, and all other amounts outstanding under this Agreement) immediately due and payable, whereupon they shall become immediately due and payable;

c. engage a representative, agent or attorney–in–fact, including third-party collection agency, external collections agency or legal counsel to seek repayment; and

d. obtain indemnification upon demand against any reasonable loss or expense, which FT Lending may incur.

Reserved Rights

We reserve, at our sole discretion but without obligation, the right to:

· deny you access to the Platform and/or discontinue the Products and Services or any component thereof at any time, temporarily or permanently, without giving any reason and/or prior notice to you. You hereby irrevocably agree, affirm and warrant to hold the Company, its affiliates and subsidiaries free from any liability, both under equity and the Law, arising or that may arise out of any such denial of access to the Platform or the discontinuance of the FT Lending Products and Services;

· collect, screen, review, flag, filter, modify, block, restrict or remove any and/or all information provided by any user, explicitly or implicitly to and through the Platform, including but not limited to hardware information, IP address, browser-type related information, cookies and the like. You hereby irrevocably agree, affirm and warrant to hold the Company, its affiliates and subsidiaries free from any liability, both under equity and the law, arising or that may arise out of any such collection, screening, review, flagging, filtering, modification, blocking, refusal or removal of any and/or all information provided by any user to and through the Platform;

· enhance, improve, develop and introduce new features and functionalities via the Platform at any time and without prior notice. You hereby understand, agree, and affirm that any such enhancement, improvement, development, new feature and/or new functionality at the Platform shall form part of the FT Lending’s Products and Services as defined herein and thus shall likewise be covered by these Terms and its subsequent revisions or amendments, as applicable;

· verify, check, cross-refer, validate, and ascertain the veracity and truthfulness of all information supplied by you by acquiring, accessing, retrieving, or otherwise acquiring similar or additional information supplied by you to other third-party service providers, including, but not limited to telecommunications providers, etc. You hereby expressly, unequivocally, and voluntarily allow the Company to request for and secure such information, and expressly, unequivocally, and voluntarily instruct such third-party providers to: (a) receive and process information requests; (b) favorably act at all times on any such request by producing the information requested; and (c) when requested, provide the latter with certified digital or printed copies of the said information;

· send you or cause to send you service updates and/or messages, including SMS, notifications, email and/or any data message transmission, informing you of enhancements, improvements, developments, features, functionalities, products, promotions, offers, advertisement, and/or any other information relative to the FT Lending’s Products and Services. The Company make no warranty of any kind, express or implied, for such service updates and/or messages, but you hereby agree to receive such service updates and/or messages and hold the Company its affiliates and subsidiaries free from any liability and/or claims for indemnification or damages that may arise therefrom;

· set limitations to and charge fees and applicable taxes for FT Lending’s Products and Services accessible via the Platform, at any time and without prior notice (other than required regulatory disclosures which will be disclosed to you). You further understand and agree that the Company reserves the right, at its sole discretion and under no obligation, to change the applicable fees, taxes and charges levied for the availment of FT Lending’s Products and Services, at any time and with prior written notice to you before the effective date of change in fees/ charges/penalties;

· to limit the provision, availability, quantity and quality of any feature, product or service to any person or to anyone within the same geographic area, demographic profile, or any other market, commercial, and/or trading segments. You hereby understand, agree, and undertake sole responsibility for your continued access to the Platform or use of FT Lending’s Products and Services, as well as the results or consequences of such access and use, including the responsibility for compliance with the Law and the sole liability for non-compliance or breach thereof.

Contracts and Authorizations

Your use and availment of the Products and Services on the Platform may be conditioned on your agreement to certain contracts and authorizations. By signifying your consent and permissions therein, you and agree to be bound terms and conditions thereof and such contracts and authorizations shall be deemed validly and voluntarily executed by you. Upon request, FT Lending may furnish you electronic copies of such documents.

Customer Protection

You must report any unauthorized transaction within one (1) calendar day from your knowledge thereof. FT Lending reserves the right to decline cases that have been reported beyond the said five (5) calendar days.

In case of stolen phone, you must report the same and requested to block your Account within twenty-four (24) hours from its occurrence. FT Lending shall process the suspension of your Account only upon proper authentication of the loss. All transactions made before you reported the loss of your phone and the authentication of the same shall remain your responsibility.

Giving away your MPIN, OTP, and other information necessary to access your account is considered an unauthorized transaction. In such a case, you shall assume full accountability for your Account inside the Platform. FT Lending will not compensate you if you avail of any of the Products and Services while your account is compromised.

Complaints

Your concerns, complaints, inquiries, or requests may be raised through the following channels:

FT Lending Master Philippines Corp.

Address: Ayala Triangle Tower 1,Cor. Ayala Ave., and Paseo de Roxas Ave.,St.,

Brgy. Bel-Air, Makati City

E-mail: cs@ftlending.ph

Termination

FT Lending may terminate or suspend your access to or ability to use the Platform immediately, without prior notice or liability, for any reason, including breach of these Terms.

Termination of your access to and use of the Platform shall not relieve you of any obligations arising or accruing prior to termination or limit any liability that you otherwise may have to the Company or any third-party.

Without prejudice to FT Lending’s other rights, FT Lending may at its sole discretion suspend or close your Account for any reason, including but not limited to if:

a. you use the Account for unauthorized purposes or where FT Lending detects any abuse/misuse, breach of content, fraud or attempted fraud relating to your use of the Products and Services;

b. FT Lending is required or requested to comply with an order or instruction of or a recommendation from any competent authority;

c. FT Lending reasonably suspects or believes that you are in breach of these Terms and your Loan Agreement (including non-payment of any loan amount due) which you fail to remedy (if remediable) within ten (10) days after service of notice by email, SMS or other electronic means requiring you to do so;

d. your Account becomes inactive or dormant without any outstanding Loan to FT Lending. It is understood that your account is considered dormant or inactive after non-activity for a period of one (1) year from the date of last transaction

Intellectual property

The designs, trademarks, service marks, copyrighted works and/or logos of or found on the Platform (“FT Lending Marks”), are owned by or subject to the licensing of the Company, similarly the designs, trademarks, service marks, copyrighted works and logos of third parties may be owned by or licensed to the third parties, and subject to copyright and other intellectual property rights under the laws of the Republic of the Philippines, foreign laws and/or international conventions. You may not use, copy, or distribute of any of the FT Lending Marks or designs, trademarks, service marks, copyrighted works and/or logos of third parties found on the Platform unless otherwise expressly permitted.

Liability for Breach

You shall be liable for any loss or damage suffered by FT Lending and/or its users as a result of:

· Your breach of these Terms or any agreement you have entered into pursuant to the Platform’s Products and Services;

· Your fraudulent use of the Platform; and

· Your provision of inaccurate, false or fraudulent data.

Governing Law and Dispute Resolution

These Terms are governed by and construed in accordance with laws of the Republic of the Philippines

The parties shall use their good faith efforts to resolve any dispute, controversy or claim of any nature whatsoever arising out of or in relation to or in connection with these Terms. To this end, the parties in dispute shall each promptly appoint representatives of appropriate standing who shall meet and attempt to resolve any dispute between them. In the event that an amicable settlement has not been reached within thirty (30) calendar days of the parties’ representatives meeting as aforesaid, the following provisions of this clause shall apply.

Any dispute, controversy or claim arising out of or relating to these Terms, or the breach, termination or invalidity thereof shall be settled by arbitration in accordance with the Philippine Dispute Resolution Centre, Inc. (“PDRCI”) Arbitration Rules in force at the time of the commencement of the arbitration. The number of arbitrators shall be one (1). The place of arbitration shall be in Taguig City. The language(s) to be used in the arbitral proceedings shall be English.

In the event of failure to settle disputes via arbitration, all matters, claims or disputes arising out of or in connection with these Terms, shall be submit to the exclusive jurisdiction of the courts of Pasig City.

Indemnification

You agree to indemnify the Company and hold the Company, its directors, officers, shareholders, employees, and affiliates free and harmless against legal claims and demands that may arise from your use or misuse of the Company’s Products and Services.

Limitation on liability

Neither FT Lending, nor its directors, officers, shareholders, employees, and affiliates shall be liable for any loss, cost, compensation, damage or liability to you or third-party arising from, directly or indirectly, or as a result of any or all of the following:

a. Refusal of any financial institution (i.e., bank) or merchant establishment and the like to allow, accept or honor FT Lending’s Products and Services;

b. That FT Lending’s Products and Services is honored by any bank, financial institution, ATM or merchant establishment; however, that such transaction is not authorized by the user;

c. The user is unable to perform or complete any transaction through the use of the Platform due to service/system/line unavailability;

d. Any delay, interruption or termination of a transaction whether caused by administrative error, technical, mechanical, electrical or electronic fault or difficulty or any other reason or circumstance beyond FT Lending’s control (including, but not limited to, acts of God, strike, labor disputes, fire, disturbance, action of government, atmospheric conditions, interference or damage by third parties or any change in legislation);

e. Unauthorized use of any user Account or any loss, costs, damages or payable to any third-party by the User; or

f. Any misrepresentation or fraud by or misconduct of any third-party.

To the fullest extent permitted by applicable law, in no event shall FT Lending, its directors, officers, shareholders, employees, or affiliates be liable for any direct, special, indirect or consequential damages, or any other damages of any kind, including but not limited to loss of use, loss of profits or loss of data, whether in an action in contract, tort (including but not limited to negligence) or otherwise, arising out of or in any way connected with the use of or inability to use the Platform, including, without limitation, any damages caused by or resulting from reliance by user on any information obtained from the Platform, or that result from mistakes, omissions, interruptions, deletion of files or email, errors, defects, viruses, delays in operation or transmission or any failure of performance. You expressly agree that your use of the Platform is at your sole risk.

FT Lending, its directors, officers, representatives, agents, or assigns, shall not be liable to you for loss or damage of any kind which you may suffer as a result of being a member of the Platform, except where such loss or damage arises from our breach of these Terms or was caused by gross negligence, willful default or fraud by the Company. FT Lending shall also not be responsible for any breach of these Terms arising from circumstances outside our reasonable control.

Links

FT Lending has not reviewed all of the sites linked to the website, if any and shall not be responsible for the contents of any such linked site links. The inclusion of any link does not imply endorsement from FT Lending. Use of any such linked website is at your own risk.

Miscellaneous

· In the event that any provision of these Terms are deemed by any competent authority or government agency to be unenforceable or invalid, the relevant provision shall be modified to allow it to be enforced in line with the intention of the original text to the fullest extent permitted by applicable law. The validity and enforceability of the remaining provisions of these Terms and Conditions shall not be affected.

· You shall not assign or transfer any or all of your rights and obligations under the Agreement without FT Lending’s prior written consent.

· If FT Lending requires the services of counsel or a third-party service provider to enforce any of its rights and remedies under the Agreement, FT Lending shall be entitled to recover from you reasonable attorneys’ fees, service provider’s fees, and to the extent permitted by law, fines, penalties, if any.

· You agree that all documents or notices may be delivered to you electronically, through your e-mail address and/or mobile number provided upon registration. Accordingly, you recognize and acknowledge that it is your sole responsibility to update the Company with your current e-mail address and mobile number and the Company shall not be liable for any claim of loss or damage for failure to receive such notices. Any message or notice sent to your registered email address or mobile number shall be deemed received and sufficient notice for any purpose required by any law, regulation, agreement or contract.

· The Agreement will be legally binding and will benefit you, FT Lending, and your respective successors and assigns.

· Subject to the Law, all disclaimers, indemnities and exclusions in these Terms shall survive termination of your Loan Agreement(s) in relation to any outstanding Loan with the Company (if any).

· If any or more provisions contained in this Agreement shall be invalid, illegal or unenforceable in any respect, the validity, legality and enforceability of the remaining provisions contained herein shall not in any way be affected or impaired.

· No single or partial exercise, or failure or delay in exercising any right, power or remedy by the Company shall constitute a waiver by the Company of, or impair or preclude any further exercise of, that or any right, power or remedy arising under these Terms or otherwise.

· Unless expressly agreed in writing otherwise, these Terms set out the entire agreement between you and us with respect to your use of the Platform and supersedes any and all representations, communications, and prior agreements (written or oral) made by you or us.

· These Terms constitutes the entire agreement hereto and supersedes all prior agreements and understanding, oral and written, among the parties hereto.