QuickPera Borrower Registration Agreement
This Borrower Registration Agreement (this “Agreement”) is made and entered into between you and WME Phils Corp the owner of the QuickPera platform.
QuickPera is an online lending platform (the “Platform”) operated by WME Phils Corporation. Among other things, QuickPera offers access to unsecured personal loans for qualified borrowers. Loans originated through the platform are made either by WME Phils Corp directly or individuals subscribed to QuickPera and as Peer Lenders and make funds available for loan to borrowers via the platform. WME Phils Corp or its certified designated agents service all loans made through the platform. The following Agreement describes those services as well as your rights and obligations should you elect to register as a borrower on the Platform. When used in this Agreement “we” or “us” refers to WME Phils Corp, QuickPera or designated agents and affiliates.
We reserve the right to restrict access to the Platform to individuals who meet minimum credit guidelines and other criteria, as determined by us in our sole discretion.
2. Authorization to Obtain Credit Report. By registering on the Platform as a borrower, you authorize us or our agents, to obtain a credit report from one or more consumer credit reporting agencies. We may use the credit report for any purpose that would be authorized by applicable law in connection with a credit transaction involving you and involving the extension of credit to you or review or collection of your account, including but not limited to (i) for authentication purposes, to make sure you are who you say you are; (ii) to make credit decisions; (iii) for internal modeling and analysis purposes; (iv) to administer the sale of any debt associated with your loan or the sale of your loan in its entirety; (v) to determine how much debt you currently have, in order to determine your debt-to-income ratio; (vi) to obtain your credit score and assign you a QuickPera Rating; (vii) to obtain and display information and characteristics from your credit report from one or more consumer credit reporting agencies; and (viii) to obtain and display on the Platform certain information and characteristics from your credit report from one or more consumer credit reporting agencies at any time. Certain information from your credit report as it pertains to your credit worthiness could be displayed on the QuickPera website with your application. You authorize us to verify information in your credit report and your listing, and you agree that we may contact third parties without further notice to you to verify any such information. We may obtain your credit report each time you create an application and at any other time in connection with loan servicing or collection.
3. Applications. To receive a loan, you, a borrower member, must submit a loan application through the Platform. The application is a request by you for a loan in an amount up to the limit imposed by the platform. In order to submit an application through the Platform, you must have a good faith intent to obtain and repay your loan, and your application must be consistent with that intent.
We will assign you a rating based on the information you provide in your application and our verification thereof which will determine your eligibility and interest rates available to you in relation to your rating.
After you submit your application and complete verification and rating stages, QuickPera will automatically allocate your application for consideration and acceptance.
You authorize and agree that we may include any information provided on your application and that received from the credit report we obtain pursuant to Section 2 above in information provided to registered lenders on the Platform.
In addition, you authorize and agree that we may display and use any of the above information as well as data regarding your loan history on the Platform.
If your application is approved, you will be notified via email and prompted to log in to your account for final review, acceptance and commitment to terms (including clear statement of total cost of loan). Upon your acceptance, funds equaling the total amount of the loan you requested but not including fees will be disbursed by the next business day. The term of loan, either 30, 60 or 90 days based on your request at time of application, begins on the day funds are disbursed to your bank account.
If your application is denied it will be terminated upon said decision and you will be notified accordingly via email.
Withdrawal of Application. You have the right to withdraw your application at any time prior to the determination of the application.
You are welcome to re-apply at any point but we reserve the right, in our sole discretion, to limit the number of listings you submit or attempt to submit at any one time.
Prohibited Activities. You agree that you will not, (i) make any false, misleading or deceptive statements or omissions of material fact; (ii) misrepresent your identity, or describe, present or portray yourself as a person other than yourself; (iii) give to or receive from, or offer or agree to give to or receive from, any QuickPera investor member or other person any fee, bonus, additional interest, kickback or thing of value of any kind, including in exchange for such person’s commitment, recommendation, or offer or agreement to recommend or make a commitment with respect to your listing; and (iv) represent yourself to any person as a director, officer or employee of QuickPera, WME Phils Corp or associated agent, unless you are such director, officer or employee.
4. Right to Verify Information and Cancel Funding.
a. We reserve the right to verify the accuracy of all information provided by borrower and investor members in connection with applications, investor commitments and loans. We also reserve the right to determine in our sole discretion whether a registered user is using, or has used, the QuickPera website illegally or in violation of any order, writ, injunction or decree of any court or governmental instrumentality, for purposes of fraud or deception, or otherwise in a manner inconsistent with the QuickPera Terms and Conditions or any agreement between QuickPera or our agent and such user. We may conduct our review at any time – before, during or after the submission of an application, or before or after the funding of a loan. You agree to respond promptly to our requests for information regarding any such review by us.
b. In the event we determine, prior to funding a loan, that an application contains materially inaccurate information (including but not limited to unintended inaccuracies, inaccuracies resulting from errors by us, or inaccuracies resulting from changes in the borrower’s income, residence or credit profile between the date an application is submitted and the date the application is to be funded) or was submitted illegally, in violation of any order, writ, injunction or decree of any court or governmental instrumentality, for purposes of fraud or deception, or otherwise in a manner inconsistent with the QuickPera Terms and Conditions or any member agreement, or was generated in error or is otherwise inconsistent with the applicable credit policy and criteria, we may refuse to accept the application or, if the application has already been accepted, remove the application from the Platform and cancel all funding commitments with respect to the application.
c. We may, at any time and in our sole discretion, delay funding of a loan (i) in order to enable us to verify the accuracy of information provided by borrower members, investor members in connection with the application or investor commitments made with respect to the listing; (ii) to determine whether there are any irregularities with respect to the application or the investor commitments; or (iii) if we become aware of information concerning the borrower member or the application during our pre-funding review, as a result of which we determine, in our sole discretion, that the likelihood of the borrower not making payments on the loan is materially greater than would be expected based on the assigned QuickPera Rating. We may cancel or proceed with funding the loan, depending on the results of our pre-funding review. If funding is cancelled, the application will be removed from the Platform and all investor commitments against the application will be cancelled. In the event we cancel funding of a loan, we will notify the borrower, and all investor members who made commitments with respect to the application of such cancellation.
d. We may verify any of the information you provide in applying for a loan and may require that you submit evidence sufficient to permit us to verify the information you provided or other information we deem necessary. We have sole discretion to determine what evidence suffices, and it is your obligation to provide that evidence. If you fail to do so within a reasonable timeframe within our discretion, we may cancel your application. However, if we can obtain the information we require from other sources, or determine that the information is no longer necessary, your loan may be approved even though you have not submitted the required documents.
e. We reserve the right in our sole discretion to demand immediate repayment of a loan including all interest and potential penalties, if applicable in accordance with governing laws, on any loan for which funds were disbursed but we discover after the fact were obtained fraudulently or in violation of any of the terms and conditions in this agreement.
5. Administration fee. If you are approved for and receive a loan, you must pay a mandatory application fee. The amount of the application fee is stated in the disclosures provided to you at the time you are notified of approval and prompted to accept or decline loan terms. Denied applications are not subject to this or any other fees.
6. Making Your Loan Payments. You agree to make your loan payments either by bank transfer from your account to ours or by visiting a bank branch or ATM and depositing direct into our account. You will be provided instructions and details for repayment when your loan is approved and you have accepted. QuickPera or its designated agents will act as the sole servicer for all loans you obtain through the Platform, and all communications regarding your loan must be made to QuickPera or its agents.
7. Collection & Reporting of Delinquent Loans. In the event you do not make your loan payments on time, we will have all remedies authorized or permitted by the Loan Agreement and applicable law. In addition, if you fail to make timely payments on your loan, your loan may be referred to a collection agency for collection. QuickPera or its agents may report loan payment delinquencies in excess of thirty (30) days to one or more credit reporting agencies in accordance with applicable law.
8. No Guarantee. We do not warrant or guarantee that you will receive a loan as a result of submitting an application.
9. Restrictions on Use. You are not authorized or permitted to use the QuickPera website to obtain, or attempt to obtain, a loan for someone other than yourself. You are not authorized or permitted to use the QuickPera website to obtain, or attempt to obtain, a loan for the purpose of engaging in any illegal activity and you warrant, represent and agree that you will not use the proceeds of any loan for such purposes. You must be an owner of the deposit account you designate for transfers of funds. Although you are registering as a borrower member, you may also register and participate on the Platform as an investor member. If you participate on the Platform as an investor member, any amounts in your QuickPera funding account are subject to set-off against any delinquent amounts owing on any loans you obtain as a QuickPera borrower. You will not receive further notice in advance of our exercising our right to set-off amounts in your QuickPera funding account against any delinquent amounts owing on any loans you obtain. If you obtain a loan and fail to pay your loan in full, whether due to default, bankruptcy or other reasons, you will not be eligible to submit any further applications or re-register with QuickPera as a borrower or investor member until you have cleared any accounts with us. We may in our sole discretion, with or without cause and with or without notice, restrict your access to the QuickPera website or Platform.
10. Authority. You warrant and represent that you have the legal competence and capacity to execute and perform this Agreement.
11. Termination of Registration. QuickPera may, in its sole discretion, with or without cause, terminate this Agreement at any time by giving you notice as provided below. In addition, upon our determination that you committed fraud or made a material misrepresentation in connection with a listing, investor commitment or loan, performed any prohibited activity, or otherwise failed to abide by the terms of this Agreement or the QuickPera Terms and Conditions, we may, in our sole discretion, immediately and without notice, take one or more of the following actions: (i) terminate or suspend your right to submit applications or otherwise participate on the Platform; or (ii) terminate this Agreement and your registration with QuickPera. Upon termination of this Agreement and your registration with QuickPera, any applications you have submitted through the Platform shall be cancelled, and will be removed from the Platform immediately. Any loans you obtain prior to the effective date of termination resulting from listings you had placed on the Platform shall remain in full force and effect in accordance with their terms.
12. QuickPera’s Right to Modify Terms. QuickPera has the right to change any term or provision of this Agreement or the QuickPera Terms and Conditions. QuickPera will give you notice of material changes to this Agreement, or the QuickPera Terms and Conditions. You authorize us to correct obvious clerical errors appearing in information you provide to us, without notice to you, although we expressly undertake no obligation to identify or correct such errors. This Agreement, along with the QuickPera Terms and Conditions, represents the entire agreement between you and QuickPera regarding your participation as a borrower on the Platform, and supersedes all prior or contemporaneous communications, promises and proposals, whether oral, written or electronic, between you and QuickPera with respect to your involvement as a borrower on the Platform.
13. Notices. All notices and other communications hereunder shall be given either by: (1) email to your registered email address; (2) message to your QuickPera message inbox; (3) posting on your QuickPera account’s login, post-login, or home page; (4) posting to the History section (or one of its subsections) of your QuickPera account; (5) posting on the QuickPera website, or (6) via postal service or other nationally recognized courier, and shall be deemed to have been duly given and effective upon transmission or posting. It is your responsibility to monitor these areas. You can contact us by sending an email to support@Quickpera.ph. You agree to notify QuickPera if your registered email address changes, and you agree to update your registered residence address, mailing address and telephone number on the QuickPera website if any of those items changes.
14. No Warranties. Except for the representations contained in this Agreement, QuickPera does not make any representations or warranties to you or any other party with regard to your use of the QuickPera website or the Platform, including, but not limited to, any implied warranties of merchantability or fitness for a particular purpose.
15. Limitation on Liability. In no event shall any party to this Agreement be liable to any other party for any lost profits or special, exemplary, consequential or punitive damages, even if informed of the possibility of such damages. Furthermore, neither party makes any representation or warranty to any other party regarding the effect that the Agreement may have upon the foreign or local tax liability of the other.
16. Miscellaneous. You may not assign, transfer, sublicense or otherwise delegate your rights under this Agreement to another person without QuickPera’s prior written consent. QuickPera may assign this Agreement at any time without your permission, unless prohibited by applicable law. Any such assignment, transfer, sublicense or delegation in violation of this section shall be null and void. This Agreement shall be governed by the laws of the Philippines. Any waiver of a breach of any provision of this Agreement will not be a waiver of any other breach. Failure or delay by either party to enforce any term or condition of this Agreement will not constitute a waiver of such term or condition. If any part of this Agreement is determined to be invalid or unenforceable under applicable law, then the invalid or unenforceable provision will be deemed superseded by a valid enforceable provision that most closely matches the intent of the original provision, and the remainder of the Agreement shall continue in effect.
18. Permission to Contact. When you give us your home and/or mobile phone number, we have your permission to contact you at that number or numbers, and any other number we believe we may reach you through (unless prohibited by applicable law), about your QuickPera accounts. Your consent allows us to use text messaging, artificial or prerecorded voice messages and automatic dialing technology, for all purposes not prohibited by applicable law. Message and data rates may apply. You may contact us anytime to change these preferences. We may also send an email to any address where we reasonably believe we can contact you. Some of the purposes for calls and messages include: suspected fraud or identity theft; obtaining information; transactions on or servicing of your account; and collecting on your account. Our rights under this Section extend to our affiliates, subsidiaries, parents, agents, vendors, and anyone so affiliated with the owner of any note evidencing a loan you obtain. Notify us immediately of any changes to your contact information by changing your contact information on your QuickPera account information – settings page.
19. IMPORTANT INFORMATION WHEN OPENING A NEW ACCOUNT – To help the government fight the funding of terrorism and money laundering activities, the law requires us to obtain, verify, and record information that identifies each person who opens an account. What this means for you: When you open an account, we will ask for your name, address, date of birth, and other information that will allow us to identify you. We may also ask to see your driver’s license or other identifying documents.
20. CONTACTING US. If you have questions regarding this Agreement, legal compliance or general practices please contact us by e-mail at email@example.com