Terms of Use

TERMS AND CONDITIONS of LOAN AGREEMENT

The Terms and Conditions hereby is the integral part of the Agreement

NOW IT IS HEREBY DECLARED AND AGREED as follows:

1. THE LOAN

Subject to the terms and conditions of this Agreement, the LENDER has at the request of the BORROWER agreed to provide a loan to the BORROWER, and the BORROWER has agreed to borrow from the LENDER a total sum in VND equal to the Loan Amount (the "Loan”) and repay it with an interest according to this Agreement.

2. PURPOSE OF THE LOAN

1. The Loan shall be used for the purpose of financing the BORROWER’s personal consuming.

2. Notwithstanding Clause 2.1 above, the LENDER shall not be responsible for monitoring or ensuring the use or application of the Loan or any part thereof for the specified purpose only and failure by the BORROWER to comply with its obligations under Clause 2.1 shall not in any way prejudice any right available to the LENDER.

3. LOAN TERM

1. The Loan shall be for a period of days equal to the Loan Term commencing on the Disbursed Date and terminating on the Due Date.

2. Based on request of the BORROWER, the Loan Term may be extended to 30 days (or another period) subject to decision of the BORROWER at time to time, since the day of expiry of the Loan Term. The Loan extension will then be applied to each successful extension (“Prolongation Fee”) paid to the Consultant. Notwithstanding this provision, the LENDER reserves right to reject renewal based on the decision and/or policy of the LENDER at time to time.

3. In case the day when LOAN is transfered to the BORROWER’s bank account is not the same date as date of signing the Agreement, the Due Date is automatically shifted by the number of days by which the date of signing the Agreement differs from the date of tranfering the LOAN to the BORROWER’s bank account.

4. DISBURSEMENT

1. The Loan will be disbursed directly by the LENDER to the BORROWER’s bank account as specified in the Offer of this Agreement.

5. INTEREST RATE

1. Interest will be levied on the Loan at a rate of 0.05% per day (18.30% per annum) - the “Interest”, it is calculated for each day of using the LOAN starting from the first day of LOAN transfer to the BORROWER’s bank account according to this Agreement. The Interest levied shall be payable before the end of the Loan Term to the designated bank account of the LENDER as stated in the first of this Agreement.

3. At time to time, subject to interbank rate announced by the State Bank of Vietnam, the LENDER is entitled to change the interest rate and such change will enter into force upon conclusion of supplemental agreement to this Agreement.

4. In case of prolongation (extension) of the Loan Term according to this Agreement the BORROWER shall pay an Interest in prolongation at a rate of 0.05% per day (18.30% per annum) – “Interest in prolongation”.

6. COLLATERAL

1. For the purpose of securing the liquidity and the ability to repay the Loan on time, the BORROWER hereby agrees to pledge an (01) asset legally owned by the BORROWER as described below to the LENDER (the “Collateral”) to secure the repayment obligation of the BORROWER to the Loan under this Agreement, including but not limited to the Loan (Loan amount), Interest, Interest in prolongation, Overdue interest, and other due payments to the LENDER under this Agreement from time to time.

2. The Collateral is valued in VND equal to Collateral Cost. The BORROWER hereby undertakes that the Collateral is legally owned by the BORROWER.

3. To avoid any misunderstandings, the Collateral shall be held and managed by the BORROWER. Accordingly, the BORROWER, during the time of holding and managing the Collateral, shall be responsible for:

i. preservation, management, and maintenance of the Collateral as the same condition as when lent to the LENDER.

ii. any costs incurred in storing, preserving and managing the Collateral, if any. If any damage, loss or damage occurs to the Collateral for any reason within the term of this Agreement, the BORROWER shall be responsible for timely reporting to the LENDER on the risk of damage of the Collateral and at the same time provide the LENDER with another asset with equivalent value under the BORROWER’s ownership to replace the damaged Collateral.

iii. providing the LENDER original legal documents proving ownership of the Collateral of the BORROWER, if requested. Accordingly, the LENDER has the right, but not obliged to keep the documents, materials proving ownership of the Collateral during the Loan Term, or upon the Loan and the other payment obligations is paid by the BORROWER.

iv. providing the Collateral to the LENDER or a third party designated by the LENDER, upon receipt of the LENDER's request, at any time during the Loan Term.

4. The Parties hereby agree and confirm that as soon as and / or at any time after the Event of Default as prescribed at the Clause 12.1 below, the LENDER has the right to tackle the Collateral based on one of the following forms: revoke, possession, management, rental, use, sale (without auction sale) or to permit a third party to exploit and use the Collateral without needing any approval from the BORROWER.

7. EXTERNAL FEES

1. The BORROWER hereby informs the LENDER that the BORROWER undertakes to pay and bear all processing expenses related to the Loan that the BORROWER has borrowed from the LENDER and consulting fees that used by the BORROWER in accordance with the Borrower Consulting Agreement entered into between the BORROWER and the Consultant,

2. All the payments from the BORROWER to the LENDER those exceeding liabilities of the BORROWER to the LENDER should be considered as the advance payments of the BORROWER (“Advance Payments”).

3. The LENDER has to transfer all the Advance Payments to the Bank Details on behalf the BORROWER. 

8. INTEREST PAYMENT

1. Interest is calculated on a 366-days year basis and is payable at any day before the end of the Loan Term (the “Due Date”).

2. If the BORROWER delays to repay the Loan and pay the Interest, the BORROWER will be responsible to pay an Overdue interest rate to the LENDER at 0.075% per day (27.46% per year).

9. PRINCIPAL REPAYMENT

1. Without prejudice to the LENDER’s right to demand repayment of the Loan upon an Event of Default (as defined in Clause 12.1), the Loan shall be repaid fully once in accordance with the Loan Term.

2. The Loan repayment shall be deposited into the designated bank account as mentioned in this Agreement or another bank account instructed by the LENDER from time to time.

3. The BORROWER is entitled to repay the Loan prior to Due Date at any time from the date of disbursement of the Loan. Notwithstanding this provision, Interest and other fees (if any) will be calculated according to the whole time of Loan Term.

  1. Payment of fees/Interest through the third party is the payment method permitted under this Agreement unless otherwise agreed in writing by the Parties.
  2.  Subject to the policy of the LENDER from time to time, the payments of the BORROWER will be used to pay for the items in priority order as follows:
  1. Overdue interest 
  2. Interest in prolongation
  3. Interest
  4. Loan Amount (principal).

10. RIGHTS AND OBLIGATIONS OF THE LENDER

1. The LENDER has full power to decide on the disbursement or not to the BORROWER. The notification of disbursement or non-disbursement will be sent to the BORROWER via one of the following forms: phone, text message, email, written notice, or otherwise, from time to time. If the notice is made by the phone, the LENDER is entitled to record entire or any of discussions between the LENDER and the BORROWER, and the BORROWER hereby acknowledges and agrees that the data recorded by the LENDER will be the legal evidence for transaction executed between the Parties.

2. The LENDER has the right to request the BORROWER to pay in full the due payments under this Agreement and/or supplement or replace any other assets to secure the payment obligations under this Agreement in any time that the LENDER reckons necessary.

3. The LENDER has the right to request the BORROWER to provide and/or supplement and/or present evidence for ownership of the BORROWER and / or the origin of the Collateral.

4. The LENDER has the right to request the BORROWER to indemnify for any damages, liabilities, claims, losses, damages, expenses related to or arising from the transactions between the Parties hereto, including but not limited to the Loan and the Collateral.

5. The LENDER has the right to process personal data of the BORROWER and to disclose it to third parties when required for loan maintenance and service.

6. The LENDER is responsible to comply the terms and conditions of this Agreement.

7. The LENDER may, at its own discretion and subject to mandatory requirements of local laws, assign claims under this Agreement to a third party.

11. RIGHTS AND OBLIGATIONS OF THE BORROWER

1. The BORROWER is entitled to request the LENDER to disburse the Loan in accordance with the proposed schedule.

2. The BORROWER is responsible for the full and timely performance of its obligations under this Agreement.

3. The BORROWER is responsible for providing and presenting the original document to prove the owner /source of the Collateral if required by the LENDER and / or the competent State Authorities.

4. The BORROWER is responsible to inform the LENDER on the rights of the third party to the Collateral, if any.

5. The BORROWER undertakes that duration of the Loan Term, the BORROWER will:

a. transfer/ pass documents related to the Collateral to the LENDER, unless otherwise agreed or prescribed by law.

b. take care of and preserve the Collateral.

c. if the Collateral is in danger of losing its value or depreciating in value due to its exploitation, to take necessary remedial measures, including ceasing the exploitation of the Collateral.

d. when the Collateral is damaged, within a reasonable period, the BORROWER will repair or substitute another asset with equivalent value, unless otherwise agreed.

e. provide information about the actual condition of the Collateral to the LENDER.

f. deliver the Collateral to the LENDER, if

i. the BORROWER cannot repay the Loan, its interest and/or others on time; or

ii. the BORROWER violates provisions/ obligation as agreed or prescribed by law.

g. notify the LENDER on any third person’s rights to the Collateral (if any). In the case of failure to provide such notice, the LENDER (as the mortgagee) shall have the right to demand compensation for damage or the right to maintain the contract and agree on the rights of the third person with respect to the Collateral.

h. not sell, not exchange, not give/ present/ donate, not lease, or not lend to the Collateral. To avoid misunderstanding, during the Loan Term, the Collateral will be managed and kept by the BORROWER.

6. The BORROWER undertakes unconditionally and irrevocably to be liable and indemnify to the LENDER for all costs of lawsuits, damages, losses and other expenses in related or arising from transactions between the Parties under this Agreement, including but not limited to the Loan and the Collateral.

7. By this Agreement, the BORROWER commits and is responsible before the laws and the LENDER for the following undertakings:

a. To comply with all applicable laws and regulations relating to the performance of the BORROWER's obligations under the terms of this Agreement and the relevant agreements.

b. Any information provided by the BORROWER to the LENDER under this Agreement is true and correct.

c. The BORROWER will be responsible for its any request, notice or certification made by the phone and agreeing that such request, notice or confirmation will make arisen and set up the legal liability and to take effect binding to the BORROWER under this Agreement.

d. If there is any change in any information of the BORROWER stated in this Agreement (including but not limited to relevant information such as phone number, email, residential address, and any other information likely to affect the repayment capacity of the BORROWER), the BORROWER hereby undertakes and is responsible to notice with the BORROWER at once of change.

e. The Collateral is owned legally by the BORROWER, at present, there is not any dispute, or dealt with by any competent individual, organization or state authorities in accordance with law. Currently, the Collateral has legal origins and not pledged mortgaged or guaranteed anywhere else to any third party.

f. This Agreement is signed by the Parties voluntary, not deceived or coerced.

12. EVENT OF DEFAULT

1. There shall be an Event of Default:

a. if the BORROWER shall default in the payment to the LENDER of the Loan (principal), Interest, Overdue interest rate, and/or any other monies here in covenanted to be paid after the same shall have become due by the BORROWER to the LENDER whether formally demanded or not;

b. if the BORROWER shall commit or threaten to commit a breach of any of the agreements, stipulations, terms, covenants, conditions or undertakings contained in this Agreement and on its part to be observed and performed (if capable of being remedied) but in the opinion of the LENDER failed to remedy it within three (3) days upon receipt of a notice from the LENDER;

c. if any license, authorization, approval, consent, order or exemption or filing with any governmental authority with respect to this Agreement is revoked, withheld, modified or ceases to be in full force and effect;

d. if in the opinion of the LENDER any material adverse changes affecting the financial condition of the BORROWER or its operations or the financial condition of the BORROWER shall have occurred or is threatened;

e. any affirmation or statement made by the BORROWER or deemed as made in this Agreement or in a deal / document relating to the transaction between the LENDER and the BORROWER is false on any the critical aspect at the time of the release or deemed issued;

f. if the BORROWER becomes insolvent, is unable to pay its debts as they fall due, stops, suspends or threatens to stop or suspend payment of all or a material part of its debts, begins negotiations or takes any proceedings or other step with a view to readjustment, rescheduling or deferral of all of its indebtedness (or of any part of its indebtedness which it will or might otherwise be unable to pay when due), or proposes or makes a general assignment or an arrangement or composition with or for the benefit of its creditors, or ceases or threatens to cease to carry on its business or any part of its business or a moratorium is agreed or declared in respect of or affecting all or any part of its indebtedness; or

g. any change in Vietnamese laws affecting the continued consideration of the LENDER to lend or not.

2. If an Event of Default occurs or at any time thereafter while such Event of Default is continuing the entire principal amount of the Loan then outstanding including the interest thereon and all other sums or money (if any) (whether principal, interest, overdue interest rate, fee, commission or otherwise) for the time being owing under this Agreement shall become due and immediately repayable on demand and the LENDER shall forthwith become entitled to recover the same and to exercise the rights and powers upon default provided for in this Agreement and by law without any previous notice to or concurrence on the part of the BORROWER.

3. A demand for repayment of the principal moneys interest and all other sums or moneys due under the provisions of Clause 12.2 may be made by a notice in writing from the LENDER demanding payment of the same within three (3) days from the date of such notice.

4. The LENDER may, at its own discretion and subject to mandatory requirements of local laws, terminate this Agreement in case of an Event of Default.

13. NOTICE

1. Subject to the BORROWER's choice, the BORROWER may register with the LENDER or the partner designated by the LENDER on the Transaction Registration Method to receive / package the documents relating to sign and implement this Agreement as provided in Clause 15.3.

2. Under this Agreement, "Notice To The BORROWER” means the lawful notices / acceptance / confirmation (as case by case) of the LENDER to the BORROWER for certain contents, referenced under this Agreement, executed via sms, email, telephone.

3. In the event the Notice to The BORROWER for any reason may have one or few defects and / or errors, the LENDER reserves the right to correct the information by re-sending another notice to the BORROWER within seven (7) working days thereafter.

14. LAW AND JURISDICTION

1. This Agreement shall be governed by and construed in accordance with the laws of Vietnam.

2. In the event of a dispute, disagreement, controversy between the Parties arise out of or in connection with the interpretation or implementation of this Agreement, either Party shall resolve the dispute by means of amicable negotiation within thirty (30) days as from the date of written notice given to one Party by the other Party on such dispute, disagreement or controversy. In the absence of such amicable resolution, the dispute shall be submitted to the competent court in Vietnam for settlement.

15. EFFECTIVENESS

1. The Parties hereby acknowledge and agree without prejudice

a. The Parties are entitled to sign this Agreement by digital signature, and the Agreement will be effective legally and binding the Parties.

2. As soon as the Loan is approved to disburse by the LENDER, the LENDER or a third party designated by the LENDER shall provide the BORROWER an OTP [used one time] (the "OTP Code") by the SMS messenger on the registered phone number of the BORROWER to verify the relevant information and used as one way to identify the BORROWER. The BORROWER is responsible for the security of receiving the OTP Code from the LENDER or a third party designated by the LENDER. By this clause, the BORROWER undertakes to exempt the LENDER from any liabilities or damages (if any) if the LENDER sends this OTP Code to the BORROWER via the phone number registered in the first of this Agreement and at the same time, the BORROWER is fully responsible for any damages (if any) when using this OTP Code.

3. The BORROWER confirm that the BORROWER has read, fully understood and agreed to be legally bounded to this Agreement and all contents, forms of expression in all the documents which is sent by the LENDER or any party designated by the LENDER via one of the following forms: phone, messenger, email or written notice to the BORROWER by the address mentioned in the first part of this Agreement (the “Transaction Registration Method”).

4. The BORROWER hereby undertakes and confirms:

i. all information and documents provided by the BORROWER to the LENDER are true, accurate in all respects and have no pieces of information, materials are hidden or falsified or counterfeited;

ii. to be fully aware of all risks including but not limited to errors, confidentiality / privacy, misrepresentation and/or counterfeited when choosing a Transaction Registration Method as prescribed in Clause 15.3 above; and

iii. to perform unconditionally and irrevocably to any and all obligations or liabilities of the BORROWER as prescribed this Agreement.

5. To the maximum extent permitted by the laws of Vietnam, this Agreement shall take full force and effect as from the date of signing and be binding upon the parties until the LENDER recovers the Loan.

6. If, at any time, any provision of this Agreement is or becomes invalid, ineffective or unenforceable in any manner by law of any jurisdiction, the legality, effect, and enforceability of the remaining provisions are not and will not be impaired in any manner.

7. This Agreement has been executed in Vietnamese.

 

SOCIALIST REPUBLIC OF VIETNAM

Independence – Freedom – Happiness

 

LOAN AGREEMENT

No. ##OFFER_NUMBER##

THIS LOAN AGREEMENT (the “Agreement”) is made in Ho Chi Minh City, Vietnam on ##AGR_ACCEPT_DATE##, between and by

 

LENDER: NGUYEN XI PAWNSHOP COMPANY LIMITED 

the legal entity duly incorporated and operating under the laws of Vietnam trading in the pawnshop services sector, in accordance with the Enterprise Registration Certificate No. 0316134419, issued by Ho Chi Minh City Department of Planning and Investment on February 10, 2020

Tax code 0316134419,

Address: Floor 8, 102 Nguyen Xi street, Ward 26, Binh Thanh district, Ho Chi Minh city,

Telephone No: 0938436874,

Represented by: Mr. Tran Dinh Chuong,

Position: Director,

 (Hereafter called as the "LENDER")

AND

the citizen of the Socialist Republic of Vietnam (private individual):

Mr/Ms ##PERSON_FIO##,

ID Card No. ##PASSPORT##

issued on ##PASSPORT_ISSUED_DATE##

by ##PASSPORT_ISSUED##,

Date of Birth: ##BIRTH_DATE##,

Residential/Current Address: ##PERSON_ADRESS##,

Telephone No: ##PERSON_PHONE##,

Email: ##EMAIL##,

Account No: ##ACCOUNTNUMBER## At ##BANKNAME##

(Hereafter called as the "BORROWER")

In the Agreement hereby, the LENDER and the BORROWER may be referred to individually as a “Party” and collectively as the “Parties”.

WHEREAS

1. The Agreement hereby consists of two parts:

1.1. the Application Form (hereafter referred as the “Offer”) – the private part part of the Agreement with personal data of BORROWER and parameters of his/her loan submitted by BORROWER and approved by the LENDER.

1.2. the Terms and Conditions (hereafter referred as the “LA T&C”) – the public part of the Agreement with common legal terms published on the WEB-site of LENDER at the following URL: https://moneyveo.vn.

2. Hereby the BORROWER provides an OFFER to the LENDER to conclude the Agreement between LENDER and BORROWER following the parameters mentioned in the OFFER and according to conditions stipulated in the LA T&C.

3. BORROWER signs the Agreement by inputting the OTP code (provided by the LENDER to a mobile phone of the BORROWER) on the electronic Application Form fulfilled at the WEB-site https://moneyveo.vn.

4. LENDER accepts the OFFER by the concludent action, i.e. disbursement of the Loan Amount to the payment receiving details provided by the BORROWER.

5. LENDER signs the Agreement by sending the OTP code to the CLIENT’s mobile phone through SMS.

OFFER.

1. This Offer is the Integral part of the Agreement.

2. BORROWER has proposed, and Parties have agreed the following parameters of the Agreement.

3. For purpose of personal consuming, the BORROWER is now desirous of borrowing a loan in VND from the LENDER, and the LENDER is desirous of lending such a Loan to the BORROWER in accordance with the terms and conditions hereinafter contained and with the following parameters:

  • Loan Amount = ##SUM$HIGH## VND, hereafter referred as the “LoanAmount”
  • Loan Term = ##TERM## days, hereafter referred as the “LoanTerm”
  • Loan Repayment Amount = ##SUM_ALL$HIGH## VND, hereafter referred as the “LoanRepaymentAmount”
  • Loan Disbursement Date = ##AGR_ACCEPT_DATE##, hereafter referred as the “Disbursed Date”
  • Due Date = ##TERM_STOP_DATE##, hereafter referred as the “Due Date”
  • Collateral - ##COLLATERAL##, hereafter referred as the “Collateral”
  • Collateral Cost = ##COLLATERAL_COST## VND, hereafter referred as the “Collateral Cost”

4.The BORROWER has got the consultancy about the Loan parameters as well as the credit assessment through the independent credit broker online platform, having the following parameters:

  • The legal entity - MONEYVEO VIET NAM COMPANY LIMITED, a credit broker, hereafter referred as the “Consultant”.
  • The contract with the BORROWER -  Borrowing Consulting Agreement No. ##OFFER_NUMBER##/BCA dated on ##AGR_ACCEPT_DATE##, hereafter referred as the “Borrowing Consulting Agreement”.
  • Banking account details for Loan repayment, hereafter referred as the “Bank Details” will be sent to the CLIENT by the Consultant via sms and/or email after signing the Agreement.

 

IN WITNESS WHEREOF, the parties hereto have set their hands on the day and year first above written.

 

For and on behalf of NGUYEN XI PAWNSHOP COMPANY LIMITED 

Concluded by sending the OTP code to the BORROWER’s mobile phone through SMS.

Full name: Mr. Tran Dinh Chuong

Position: Director

 

For the BORROWER

Full name: ##PERSON_FIO##

Signed by OTP code: ##SMS##

 

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