have concluded this agreement (hereinafter the Credit agreement): CREDIT LINE AGREEMENT No. [ ], dated [ ] [ ] Representations of the Client

Transcription

1 Company Mozipo IFN S.A., Sole code of registration Trade Registry number J40/11461/2014 Registration address 31 Baratiei street, ground floor, District 3, Bucharest General Register of the National Bank of Romania number RG-PJR ANSPDCP number Telephone No: Share capital: RON Client First name: Last name: Personal identification code: Address: Number of the bank account: Mobile telephone: Number of the envelope: User s ID: have concluded this agreement (hereinafter the Credit agreement): CREDIT LINE AGREEMENT No. [ ], dated [ ] [ ] Representations of the Client 1.1. The Client confirms and acknowledges that: Credit agreement is regarded as concluded from the moment the Client confirms the Credit Agreement provided by the Company (by signing it on paper or by transferring the Client Identity Fee). Client clearly understands that the mere conclusion of the Credit agreement does not guarantee that he/she will be able to use any part of the Credit limit. Part of the Credit limit that he/she will be eligible to withdraw at a specific time shall be established by the Company upon conclusion of the Credit agreement, receipt of the corresponding Client s Application for Drawdown of the Credit Limit and assessment of the Client s creditworthiness after receipt of such application, together with the fulfilling of all the other conditions stipulated in the Credit agreement; prior to the conclusion of the Credit agreement he/she has been given in a timely manner, at least 15 days before the concluding of the Credit agreement if the Client did not waive the legal information term, complete and accurate standard information about a credit offered by the Company: data about the Company; the type of the credit; terms and conditions for conclusion of the Credit agreement; the amount of the Credit limit; terms and conditions for drawdown of the Credit limit; the duration of the Credit agreement; terms and conditions for payment of Instalments; Borrowing rate; Annual percentage rate of charge; fees and costs related to the conclusion of the Credit agreement and drawdown of the Credit limit; late payment fees; the right to withdraw from the Credit agreement and its implementation; the right to an early repayment of a credit; the right to receive a copy of a draft credit agreement; out-of-court dispute resolution and redress procedure; termination of relationship; rights and obligations under the Credit agreement; prior to the conclusion of the Credit agreement he/she has been given the right to choose the credit repayment method even rates (annuity) or decreasing rates; prior to the conclusion of the Credit agreement he/she has been given access to all terms and conditions of the Credit agreement and has become acquainted with these terms and conditions of the Credit agreement. The terms and conditions of the Credit agreement do not infringe upon his/her rights and interests; he/she has voluntarily concluded the Credit agreement and clearly understands all obligations assumed under the Credit agreement and he/she has received a copy of the Credit agreement; he/she has disclosed all relevant circumstances that may affect his/her creditworthiness to the Company;

2 he/she has received an opaque and sealed envelope with a password to be used to connect to Selfservice interface and he/she knows that the password in the envelope needs to be changed the first time he/she logins to the Self-service system. 2. Definitions 2.1. Unless the context otherwise requires the following capitalised words and expressions shall have the following meanings in this Credit agreement: Company Mozipo IFN S.A., with the registered office in Bucharest, 31 Baratiei street, ground floor, 3 rd District, registered with the Trade Register under no. J40/11461/2014, having the sole code of registration and registered at the General Register of the National Bank of Romania under no. RG-PJR , which has the right to engage in consumer crediting activities Applicant individual person, satisfying the requirements established by the Company and announced on the Webpage, who wishes to conclude a Credit agreement with the Company Client individual person, satisfying the requirements established by the Company and announced on the Webpage, who has concluded the Credit agreement with the Company in accordance with the procedure established in Article of the Credit Agreement Party the Company or the Client Credit agreement this credit line agreement concluded by and between the Company and the Client, including all its supplements, amendments or other modifications Special terms and conditions constituent part of the Credit agreement accepted by the Parties in any of the forms described in Article 6.5 of the Credit agreement which specifies: the sum of the Credit, the Credit term and its repayment date, the amount and number of Instalments to be made by the Client, the Total Cost of the Credit, the Total amount payable by the Client and other terms and conditions Credit limit the maximum sum established in Clause of the Credit agreement, within the limits of which the Company shall credit the Client during the duration of this Credit agreement, provided that upon the Company s assessment of the Client s creditworthiness it is established that the Client qualifies for a particular drawdown of the Credit limit Application for Drawdown of the Credit Limit request for drawdown of the Credit limit submitted by the Client to the Company in accordance with Article 6 of this Credit Agreement Credit (sum of the Credit) part of the Credit limit which, pursuant to the particular Special terms and conditions, is paid out to the Client Credit term a period of time, chosen by the Client, during which the Client is obliged to repay the Credit and to pay the Total Cost of the Credit to the Company Credit chosen the sum of the Credit and the Credit term chosen by the Client Total Cost of the Credit the sum of the interest calculated at the Borrowing rate in accordance with the Clauses of the Credit agreement that must be paid by the Client to the Company for using the Credit during the Credit term together with all commissions, taxes and any other kind of fees which the Client may be required to pay in connection with the Credit agreement and which are known to the Company Borrowing rate annual interest rate expressed a fixed percentage applied to the outstanding sum of the Credit and established in Article of the Credit agreement Penalty interest rate annual interest rate expressed in a fixed percentage applied to any part of the Credit that has not been paid by the Client to the Company at the due date (irrespective if the due date is established by the agreement or it results following an acceleration of the credit or otherwise) and established in Article of the Credit agreement Annual percentage rate of charge (APR) the Total Cost of the Credit, expressed as an annual percentage of the total amount of Credit Total amount payable by the Client the sum of the Credit and the Total Cost of the Credit Payment specific sum of money that is paid by the Client to the Company under the Credit agreement. 2

3 Payment day specific day of a month, indicated in the Special terms and conditions, on which the Client each month must pay the Instalment to the Company, subject to Article 8.4 of the Credit Agreement Payment term a period of time from one Payment day up to the following Payment day Installment part of the Total amount payable by the Client calculated in accordance with the conditions established in the Credit Agreement which must be made by the Client before the end of the Payment term Work point Company s customer service point Webpage Company s website and its sub-pages Self-service interface the Company s self-service web interface of the Clients, which allows the Client who has accessed it to use the services provided by the Company, change his data, receive information on the outstanding amounts and discounts granted to the Client, perform other actions Electronic channels internet or mobile phone Client identity verification fee - a one-time fee which must be paid by the Client wishing to conclude the Credit agreement online, in order to confirm the registration data and agree with the conditions of the Credit agreement via Electronic channels. The amount of the Client identity verification fee is 1 lei (one lei). The Client's Identity Verification Fee is returned to the Client at the time of granting a credit Extension fee - upon Client s request, a single commission of 25 lei (twenty five) Romanian Lei charged by the Company for extending the repayment period of the credit or postponing the payment (in accordance with the provisions of Article 8.12 of the Credit agreement) Identity verification tools: identification code (hereinafter user s ID) assigned to the Client by the Company and password created by the Client when the identity is verified at the Self-service interface; user s ID and mobile phone number of the Client when the identity is verified during the telephone conversation with the Client Politically exposed persons means natural persons that exercise or exercised important political functions, such as: a) Heads of state; heads of government, members of the parliaments, European commissioners, members of governments, presidential advisers, state advisers, secretaries of state; b) members of constitutional courts, supreme courts or members of other high courts whose decisions can be challenged only through extraordinary means of appeal; c) members of courts of auditors and other integrated institutions or the members of the boards of central banks; d) ambassadors, charges d'affaires, senior officers of the armed forces; e) heads of public institutions and authorities; f) members of the boards and supervisory boards, and persons responsible for the management of autonomous companies, of companies owned by the state, and national companies), direct members of their family (husband/wife; children and their husbands/wives; parents), and persons publicly known to be close associates of natural persons who exercise an important public position (individuals which are publicly known to: a) together with them own or have a significant influence over a legal person or entity, or a legal arrangement, or have a close business relationship with those people; b) own or have a significant influence over a legal person or entity or legal structure established for the benefit of such person Real beneficial owner the natural person who controls ultimately the Client or in the interest of whom the Credit agreement is concluded and, therefore, is the ultimate user of the Credit to be paid out under this Credit agreement Consent to consult ANAF database - explicit consent of the Client to Mozipo IFN S.A. to consult, transmit and process his/her personal information from the databases of the Ministry of Public Finance, the National Agency for Fiscal Administration as well as the personal data of the Client. 3

4 3. Object of the Credit agreement 3.1. In accordance with the conditions established in the Credit agreement as well as the results of the assessment of the creditworthiness of the Client the Company shall credit the Client within the limits of the Credit limit while the Client shall repay to the Company the sums withdrawn and pay the interest on that part of the Credit limit that has been used by the Client. 4. Main conditions of the Credit agreement A. Key figures 4.1. The main elements of the Credit agreement are the following: Type of credit consumer credit Credit limit (fifteen thousand) Romanian Lei. Part of the Credit limit that the Client shall be eligible to withdraw at a specific time (if any) shall be established by the Company upon receipt of the corresponding Client s Application for Drawdown of the Credit Limit and assessment of the Client s creditworthiness after receipt of such application, together with the fulfilling of all the other conditions stipulated in the Agreement. The Company is entitled to change the sum of the Credit limit unilaterally without giving any prior notice to the Client, providing that such change does not infringe the rights of the Client and/or does not have any negative effect to the performance of the Credit agreement for the Client Borrowing rate applicable interest rates according to the credit type chosen by the Client: Credit A - Credit term 1-5 months: 298,8% for credit amounts Romanian Lei Credit B - Credit term 6-11 months: 298,8% for credit amounts Romanian Lei Credit C - Credit term 6-11 months: 200,4% for credit amounts Romanian Lei Credit D - Credit term months: 298,8% for credit amounts Romanian Lei Credit E - Credit term months: 200,4% for credit amounts Romanian Lei Credit F - Credit term months: 156,0% for credit amounts Romanian Lei Credit G - Credit term months: 200,4% for credit amounts Romanian Lei Credit H - Credit term months: 90,0% for credit amounts Romanian Lei Credit I - Credit term months: 200,4% for credit amounts Romanian Lei Credit J - Credit term months: 90,0% for credit amounts Romanian Lei Credit K - Credit term 60 months: 200,4 % for credit amounts Credit L - Credit term 60 months: 90,0 % for credit amounts Choosing a certain credit type does not prevent the Client from the possibility to later apply for a higher amount of the credit or for a longer term of the credit which would be attributed to a different type of credit, based on the latest Termeni și Condiții Speciale 4

5 Penalty interest rate two percentage points plus Borrowing rate according to the credit type chosen by the Client Frequency of Instalments 1 month Method of repayment of the Credit and payment of interest annuity Duration of the Credit agreement unlimited. Credit term itself shall be agreed and indicated in the Special terms and conditions The Annual Effective Interest Rate and the Total Payable Amount on each withdrawal of the credit will be indicated in the Special Terms and Conditions. Total amount payable by the Client that he will actually need to pay to the Company shall depend on the Credit limit effectively withdrawn and the Credit term chosen, and shall be established in the Special terms and conditions. B. Current Interest 4.3. The Client shall pay the interest on the outstanding amount of the Credit until the Credit is fully repaid The interest payable by the Client shall be calculated at the Borrowing rate established in Article of the Credit Agreement Daily or monthly borrowing rate shall be calculated considering 30 days as the numerator and 360 as denominator If the Company offers to the Client discount on interest, the discount shall be applicable to the total sum of interest (not to the interest rate). In such case the sum of discount shall be divided by decreasing each of the Installments in equal parts The Parties agree that the discount offered by the Company and contracted by the Client shall remain valid only if the Credit is repaid following the Payment terms established in the Special terms and conditions. If after receiving the Credit with a discount the Client chooses to extend the Credit term or to pay part of the Credit early or to use a higher sum of the Credit limit, the discount shall be annulled as of the moment of extension of the Credit term / partial repayment of the Credit / contracting for the higher sum of the Credit limit and the Interest thereon shall be calculated at the Borrowing rate established in Article of the Credit Agreement. C. Default Interest 4.8. In case the Client fails to pay the Instalment on time, he shall be obliged to pay the Penalty interest on sum of the Credit that was not repaid on time and for the period starting from the Payment day of such Instalment and ending on the date when the respective Instalment has been actually repaid. Penalty interest rate established in Article of the Credit Agreement shall apply The Penalty interest rate shall not exceed by more than 2 percentage points the Borrowing rate, in the case where the Client or the spouse of the Client is in any of the following situations: unemployment, suffers a drastic reduction of the salary, death. A drastic reduction of the salary is of at least 15% of the total salary value. In order for such situation to be opposable to the Company, the Client has the obligation to hand to the Company the documents ascertaining the special situation that has occurred within a maximum of 15 days since its occurrence. If the Client informs the Company on occurrence of such situation after the end of the term established herein, the reduced Penalty interest shall be applied to such Client only from the next day after the Company has received the Client s notification. The Client undertakes to confirm on a regular basis, once every month, on the continuation of the special situation; to this end, the Client shall file the ascertaining documents at the Company s office. The penalty interest rate will be charged until the end of the event that caused the reduction in income, but not more than 12 months. In case of death, the period cannot be less than 6 months. 5

6 D. Other fees or costs All costs incurred by the Company when claiming the Instalments as well as other sums due, including debt administering costs, shall be paid by the Client as provided in the Credit agreement. 5. Conclusion of the Credit Agreement and Use of the Company s Services A. General provisions 5.1. The Credit agreement is concluded by signing it at the Company s Work points or at the premises of the Client (when the Credit agreement is presented by courier) or via Electronic channels in accordance with the procedure stipulated in Section B of this Article 5 of the Credit Agreement The Applicant / Client is obliged to present at any moment prior and after the concluding of the Credit agreement true and accurate data in what concerns his/her personal status, income status, or other elements that would reasonably be considered to impact over the undergoing of the contractual relationship. The Applicant / Client is aware of the provisions of the Criminal code stipulating that misleading a person by presenting a false action as being true or a true action as being false, in order to obtain unjust material benefit for oneself or for another and if damage was caused Upon the conclusion of the Credit agreement, the Client shall be provided with the user s ID as described in Article 5.4 of the Credit agreement, which entitles the Client to use the services provided by the Company under the Credit agreement for the indefinite period of time User s ID for the Client: who has concluded the Credit agreement at the Company s Work Points or the premises of the Client (when presented by courier), shall be indicated on the first page of the Credit agreement; who has concluded the Credit agreement via Electronic channels shall be sent by the Company via SMS message to the Client s mobile phone number indicated by him during the phone call referred to in Article below of the Credit agreement or indicated by him in the registration form. B. Special conditions for the conclusion of the Credit agreement via Electronic channels 5.5. Applicant wishing to conclude the Credit agreement via Electronic channels shall: (i) call the Company from his/her mobile phone and present his request to enter into the Credit agreement verbally during the phone call, which shall be recorded by the Company, together with all the information requested by the Company for the purposes of entering into the Credit agreement or (ii) perform the following actions on the Webpage, in accordance with the guidelines presented therein: fill in the registration form, specifying his identification number, mobile phone number, electronic mail and other required data; create the password; get acquainted with the conditions of Credit agreement; confirm data provided in the registration form on the Webpage and accept the Credit agreement by paying the Client identity verification fee as described in Article 5.6 Article 5.12 of the Credit Agreement Client identity verification fee shall be paid by the Applicant exclusively from his personal account with one of the banks that are registered in Romania Client identity verification fee shall be paid from that personal bank account of the Applicant which the Applicant wishes the Credit to be credited to. Client identity verification fee is returned to the Client at the time of the credit. 6

7 5.8. Client identity verification fee shall be paid by transferring money to the Company s bank account indicated on the Webpage in the same bank as the personal bank account of the Applicant. If the Company does not have a bank account in the same bank as the personal bank account of the Applicant, then the Client identity verification fee shall be transferred to any bank account of the Company listed on the Webpage The Applicant shall pay the Client identity verification fee from his/her bank account by using the internet banking system or by presenting request to make such a payment from his/her bank account at the bank holding his/her account When paying the Client identity verification fee, in the column Payment details of the payment order the Applicant is obliged to indicate text with unique combination of digits which is provided to the Applicant by the Company once actions indicated in Article 5.5 are performed and which contains in a cryptographed form the content of the Credit agreement The Company shall not assume any liability for the improper payment of the Client identity verification fee into the Company s account, if: the Client identity verification fee has not been credited into the Company s account due to the fault of any third parties; or the Applicant has failed to perform or has performed improperly the requirements for payment of the Client identity verification fee laid down in this Section of the Credit agreement or stipulated on the Webpage Parties hereby agree that by paying the Client identity verification fee, the Applicant confirms: his identity; his will to accept the Credit agreement that he got familiarized with on the Webpage when filling the registration form; his request for the Credit to be paid out into the account from which the Client identity verification fee has been paid Parties hereby agree that once the actions indicated in Article 5.5 are performed by the Applicant and the Client identity verification fee has been credited into the Company s account, the Credit agreement is considered to be concluded by Electronic channels. The Client who has already concluded the Credit agreement and who wishes to use the services of the Company once again is not obliged to register repeatedly. C. Use of the Credit limit and other services provided by the Company Upon the conclusion of the Credit agreement and subject to the results of the assessment of the creditworthiness of the Client (as provided in Article 7.2 hereof), the Client shall be entitled to use the Credit Limit and other services provided by the Company: by signing at the Work points the Special terms and conditions for the particular Credit, as an integral part of the Credit agreement; via Electronic channels by logging into the Self-service interface with the Identity verification tools and by confirming the Credit chosen with the entry of his/her password into the Self-service interface calling the Company from the Client s mobile phone and by confirming the Credit chosen verbally during the phone call which shall be recorded by the Company In case the actions are performed via Electronic channels, the Company shall determine identity of the Client on the basis of the following tools: in case the actions are performed at the Self-service interface on the basis of the user s ID assigned to the Client and password created by the Client; in case the actions are performed via mobile phone on the basis of the user s ID granted to the Client and the mobile phone number of the Client Parties hereby agree that all actions and confirmations of the Client performed via Electronic channels using Identity verification tools as described in Article of the Credit agreement represent his/her will and unequivocal intents and shall be deemed to have been executed in 7

8 written form and shall have the same legal effect as the written documents certified by the handwritten signatures of the Client or the Parties; The Client shall be liable for the secure use of his mobile telephone, hardware and software The Client shall use the services provided by the Company in the manner and time prescribed by the Company in its Webpage. Without bringing prejudice to this Credit agreement and any part thereof, the Company preserves the right to change the manner and time of the provision of services via the Electronic channels due to the technical and administrative reasons beyond its control. The Company shall notify on the change in the manner and time of the provision of the services on its Webpage. 6. Application for Drawdown of the Credit Limit 6.1. The Client who wishes to use the Credit Limit shall submit an Application for Drawdown of the Credit Limit to the Company. Such application may be submitted only after the Credit agreement is concluded as described in Article 5 of the Credit agreement Application for Drawdown of the Credit Limit shall be submitted in one of the following ways: orally at the Company s Work point; by selecting on the Self-service interface the option Get the Credit (when the Client does not have any outstanding Credit) or the option Additional borrowing (when the Client wishes to withdraw an additional sum of the Credit limit); by calling the Company from his/her mobile phone and presenting his application verbally during the phone call which is recorded by the Company When presenting an Application for Drawdown, the Client shall prepare and hand the Company the documents the latter requires in accordance with its internal crediting norms, necessary for the processing of the request of Credit, including Consent to consult ANAF database. The Client is informed that the Consent to consult ANAF database is a mandatory condition for assessing its creditworthiness and issuing a credit and his disagreement will prevent Mozipo IFN S.A. from processing its personal data and consequently the Company will not be able to give him credit Upon receiving the Client s Application for Drawdown of the Credit Limit and the documents requested from him, the Company shall assess the creditworthiness of the Client and shall present to him all Credit choices (Credit sums together with the Credit terms), if any, that he is eligible to The Client shall select the Credit choice from the maximum credit limit he/she is eligible for and shall confirm the Credit chosen: by signing the Special terms and conditions at the Company s Work point; by accepting the Special terms and conditions on the Self-service interface in accordance with the procedure established in Article of the Credit agreement; by accepting the Special terms and conditions over the phone in accordance with the procedure established in Article of the Credit agreement Once the Credit chosen is confirmed by the Client in accordance with the procedure established in Article 6.5 of the Credit Agreement, it is considered that: the Parties have reached an agreement on the Special terms and conditions and have accepted them in the form that shall have the same legal effect as the written documents certified by the hand-written signatures of the Client or the Parties; the Client gave the instructions to the Company to pay out the Credit If the Client who has been using part of the Credit limit wishes to use a higher sum of the Credit limit, Articles of the Credit agreement shall apply. Without prejudice to other clauses of the Credit agreement, the Client shall be entitled to a higher sum of the Credit limit only upon payment of the Credit not yet paid and the interest accrued on such Credit or refinancing of such sums by the Company. If the Client who wishes to use a higher sum of the Credit limit has an overpayment to the Company, the Parties agree that at the moment of transfer of the additional sum to the Client such overpayment shall be automatically off-set to repay early the 8

9 corresponding part of the Credit. If the Client selects one of the mentioned Credit choices, the procedure established in Articles 6.5 and 6.6 will apply: such Special terms and conditions shall specify, including: sum of the outstanding obligations (if any) of the Client which shall include the outstanding sum of the Credit and the interest accrued on such Credit and which shall be refinanced by the Company under the terms and conditions established in the Special terms and conditions; sum of the overpayment by the Client which shall be off-set to repay early the corresponding part of the Credit at the moment when the additional sum of the Credit limit is paid out to the Client s account; additional sum of the Credit limit to be paid out to the Client s account; total sum of the Credit which refers to the sum of the amounts indicated in Articles and , deducted by the sum indicated in Article of the Credit agreement; such Special terms and conditions shall replace any other Special terms and condition accepted by the Client earlier and shall contain all the corresponding conditions applicable to the Credit, as it is defined in Article The Company reserves the right to amend the procedure for submission of the Application for Drawdown of the Credit Limit as well as for confirmation of the Credit chosen. The said amendments shall be announced on the Webpage. 7. Credit transfer 7.1. Subject to Article 7.2 of the Credit agreement, throughout the duration of the Credit agreement the Company shall pay out to the Client the Credit chosen by the Client under the Special Terms and Conditions while the Client shall repay the Credit received and pay the Total Cost of the Credit to the Company After receiving the Application for Drawdown of the Credit limit and before agreeing to pay out the Credit the Company is obliged to assess the creditworthiness of the Client and may totally or in part refuse to pay out the Credit to the Client, if the Company believes that the Client shall not be able to perform his obligations provided in the Credit agreement in a due and/or timely manner Once the Credit choice is confirmed by the Client in accordance with the procedures established in Article 6.5 of the Credit agreement, the Company undertakes to transfer the Credit within 1 (one) business day at the latest to: to the account indicated by the Client to the Company in writing at the moment of conclusion of the Credit Agreement, if the Credit agreement has been concluded at the Company s Work Point; to the Client s account from which the Client identity verification fee has been paid, if the Credit agreement has been concluded via Electronic channels When transferring the Credit into the account of the Client, the Company shall repeat (if this is technically possible) in the Payment details of such order the personal identification code of the Client, the amount of the Instalment and the number of Installments that have been agreed in the Special terms and conditions. Before starting to use the Credit received the Client shall be obliged to check the Payment details of the order and to notify the Company on any inconsistencies between the conditions stated therein and the conditions that the Client agreed upon in the Special terms and conditions. If the Client does not notify the Company on such inconsistencies, he shall not be entitled to claim in the future that the conditions indicated in the Payment details of the order do not correspond to the conditions that the Client has agreed when accepting the Special terms and conditions Fees to the bank applicable for the Credit amount being credited into the Client s bank account shall be paid by the Client If in the future the Company start performing cash operations at the Work points, the credit may be paid out to the Client in cash at the Company s Work points It shall be deemed that the Company has performed its obligation to transfer Credit to the Client s account once the Credit amount has been sent to the Client s account. If the Credit is paid out in 9

10 cash, it shall be deemed that the Company has performed its obligation to transfer Credit to the Client once the Client has signed the cash receipt document The Company shall not be liable for the late payment designations or failure to perform payment designations, if this is subject to the fault of the bank and (or) third parties or breakdowns that occurred in the connection channels The Company is entitled to suspend or cancel transfer of the Credit if the Client has indicated the data, necessary for the transfer to be performed, incorrectly or if the circumstances which reduce the Client s creditworthiness become known The Company may, for objectively justified reasons, suspend the Client s right to draw down parts of the Credit limit. Without limitation and only as means of example, in those cases when the Client is creditworthy and eligible for drawdown of the Credit line, the Company may suspend the drawdown due other reasons, e.g. like the suspicion of unauthorised use or fraudulent use of the Credit. On an exceptional basis, the Company may suspend the Client s right to draw down for other objectively justified reasons, which are not specified in the contract, of which the Client shall to be notified on paper or on another durable medium, where possible before the suspension and at the latest immediately thereafter. 8. Payment of the Total Cost of the Credit, repayment of the Credit and Extension of the Credit term 8.1. The Client declares and confirms he/she has chosen the Credit to be repaid and the interest paid under the annuity method, in equal monthly Installments before the end of the term Installment to be paid on the Payment day shall be calculated based on Articles of the Credit Agreement and indicated in the Special terms and conditions. Instalment shall be paid by the Client on the Payment day Payment shall be deemed to have been performed when the funds are credited into the Company s bank account In case the Payment day is on official holiday or weekend, such Payment day shall be considered to be the first business day thereafter Payments shall be made in the currency in which the Credit has been granted to the Client Payment to the Company shall be made by the Client: by transferring the funds from his bank account to the Company s account indicated on the Webpage in the same bank as the bank account of the Client. If the Company does not have a bank account in the same bank as the bank account of the Client, then the payment shall be made to any bank account of the Company listed on the Webpage. The Client shall make a payment from his/her bank account by using the internet banking system or by presenting request to make such a payment from his/her bank account at the bank holding his/her account by direct debit if the Client has entered into the direct debit agreement with the bank or the Company or gave consent that the services provided by the Company would be paid by direct debit; in cash at the Company s Work points if the Company starts performing cash operations at the Work points When performing the Payment, the Client is obliged to indicate his personal identification code in the column Payment details of the payment order. In case the Client has failed to indicate his personal identification code or the code has been indicated incorrectly, the Payment shall not be considered to have been performed up until the moment when the Client s Payment is attributed by the Company as the particular payment made under the Credit agreement concluded by and between the Client and the Company. The Company shall accept a Payment made by a third person as the Payment made by the Client, if the Client s personal identification code is indicated in the column Payment details of such payment order The Client shall bear all costs, related to the making of the Payment, except bank fees for the Payments that have been made in compliance with this Credit Agreement being credited into the Company s bank account. 10

11 8.9. Payments received from the Client shall be applied: firstly, to the costs related to the submission of the claim to perform the obligations (if any), together with any other judicial or extra-judicial fees incurred by the Company related to the recovering of the debt, including costs with court bailiffs or attorneys; secondly, to the Penalty interest accrued on part of the Credit that had to be repaid within an outstanding Instalment for the period starting from the date when such Instalment had to be repaid and ending on the date when it has been actually repaid; thirdly, to the Instalments in accordance with the sequence of their maturity. If the payment made is not sufficient to cover the Installment entirely, then the interest shall be covered first within such Instalment and then part of the Credit to be repaid within such Instalment If the Payment received from the Client exceeds the sum of his outstanding obligations and if the Client before such Payment has not presented to the Company a request for early repayment of the Credit, that part of such Payment that exceeds the sum of his outstanding obligations shall be applied to the closest Installment(-s) on the next Payment date(-s) The total repayment may be made only if the funds credited to the Company s bank account cover the Penalty interest and Accumulated interest as well as the remaining amount of Credit (the principal) to be paid at that time The Client is entitled to extend the Credit term and to postpone repayment of the outstanding Credit upon payment of: interest accrued until the date of such extension and postponement on that part of the Credit that has not yet been repaid; and Penalty interest accrued on part of the Credit that had to be repaid within the outstanding Installment(-s) for the period starting on the Payment date when such Instalment(-s) became due and ending on the date of such extension and postponement; and a single commission of 25 lei (twenty five) Romanian Lei charged by the Company for such extension and postponement The will to extend the Credit term and to postpone repayment of the Credit shall be expressed by the Client by paying of the sums indicated in Clause 8.11 of the Credit agreement into the Company s bank account. Upon payment of those sums: further repayment of the Credit is postponed until the same day of the month on which the payment of the sums indicated in Article 8.12 of the Credit agreement have been made of the next month following the month during which the payment was made. However, if the payment was made on the 29 th, 30 th or 31 st of a certain month, then further repayment of the Credit is postponed until the 1 st of the second month following the month during which the payment was made; Credit term shall be extended until the same day of the month on which the payment of the sums indicated in Article 8.12 of the Credit agreement have been made of the next month following the month on which the Credit term should have ended under the Special terms and conditions. However, if the payment was made on the 29 th, 30 th or 31 st of a certain month, then Credit term shall be extended until the 1 st of the second month following the month on which the Credit term should have ended under the Special terms and conditions, however, no interest shall be charged for those additional days during the last Payment term; Payment day shall be changed from the one indicated in the Special terms and conditions into the that day of the month on which the payment of the sums indicated in Article 8.12 of the Credit agreement have been made. However, if the payment was made on the 29 th, 30 th or 31 st of a certain month, then the new Payment day shall be the 1 st day of month When the Credit agreement ends, the Company shall provide to the Client, free of charge, a document that certifies that all of the obligations between the Parties have been extinguished or to indicate that such contractual obligations are not met. 9. Rights and obligations of the Company 9.1. The Company shall: 11

12 transfer the Credit to the Client on time; at least 30 (thirty) business days in advance notify in its Work points and on its Webpage about the intended change in the procedure of the provision of the services or the requisites of the Company; ensure protection of the Client s personal data The Company is entitled: to choose the manner and means of the performance of the obligations arising out of the Credit agreement, in accordance with the provisions stipulated therein; to record all visits of the Client to the Company s Work points as well as his phone calls to the Company and to use those records for an unlimited time period; to use the services of third parties for the purposes of performing the Credit agreement; to send the Credit Bureau or any similar institution to which the Company is a member of, negative data on the Client, after the Client has been notified, at least 15 days in advance in writing, by telephone, by SMS or by phone regarding the delay of more than 30 days of any of the payments due on the basis of the Credit agreement. The Company shall be entitled to send at any time any positive data regarding the Credit agreement type of product, duration, date of granting of the Credit, due dates of instalments, value of the Credit or drawdowns, owed amounts, frequency of payments, currency of the credit, value of instalments, name/address of the employer etc; without a separate consent of the Client to pledge claims arising out of the Credit agreement to the third parties; without a separate consent of the Client to transfer the debt of the Client as well as other rights and obligations arising out of the Credit agreement to the third party pursuant to the agreement concluded with such third party; without a separate consent of the Client to take over his/her claims to take over the rights and obligations of the Client arising out of the agreement concluded by and between the Client and the third party pursuant to the agreement concluded with such third party; to cancel the Client s right to use services of the Company via Electronic channels in order to protect the Client s interests, if, based on reasonable assumptions or knowledge, there are indications that the continuation of the Electronic channels may lead to damages; to inform the Client, over any method that is deemed reasonable, over the moment of when the lending via Electronic channels will be available after the concluding of this Credit agreement. 10. Rights and obligations of the Client The Client shall: pay the Instalments as well as perform other financial obligations on time; notify Company orally or in written within 3 business days if: due to some particular reasons performance of the Client s obligations under the Credit agreement aggravates; his/her name, surname, personal identification code, place of residence, correspondence address, mobile phone number (-s) or electronic mail changes; not transfer rights and obligations under the Credit agreement without the prior consent of the Company; perform other obligations arising out of the Credit agreement in a proper manner; insure that Identity verification tools of the Client are used exclusively by the Client; not disclose Identity verification tools of the Client to any third parties; immediately notify Company in case Identity verification tools were disclosed or the Client suspects that they might become disclosed to the third party The Client is entitled: to conclude a direct debit agreement with the bank(s) with which it has opened current accounts or the Company (to give consent for the direct debit), in accordance to which payments for the services provided by the Company could be executed using the direct debit; 12

13 to terminate the Credit agreement pursuant to the procedure laid down in Article 14 of the Credit agreement; to repay the Credit early in accordance with the procedure laid down in Article 11.4 of the Credit agreement; to withdraw from the Credit agreement pursuant to the terms and conditions laid down in Article 11.1 of the Credit agreement; if his/her Application for Drawdown of the Credit has been declined due to the results of assessment of his/her creditworthiness on the basis of a consultation of the relevant databases, to receive immediately and free of charge information on such databases and the data received from them; to receive free of charge an original counterpart of the draft of the Credit Agreement; to receive free of charge and at any time throughout the duration of the Credit agreement the schedule of Instalments if any changes in the costs of the credit have taken place All obligations of the Client, as contained within this Credit agreement, represent conditions considered as essential by the Company, the unfulfilling of which conducts to the fall of the Client from the benefit of term, in the meaning of art Civil Code. In the consideration of art Civil Code, the Client is in default by operation of law starting with the moment at which the term established for the performance of its obligation is met. 11. Special rights of the Client The Client shall have a period of 14 calendar days in which to withdraw from the Credit agreement without giving any reason. The period of withdrawal shall begin from the day of the conclusion of the Credit agreement or, in the event of any subsequent change in the Credit Agreement, from the date of any change to any of the terms and conditions set out in the section Main conditions of the Credit agreement of the Credit agreement If the Client exercises his right of withdrawal, he shall have the following obligations: To notify the Company, on paper or another durable medium which is readily available and accessible to the Company, in order to give effect to the withdrawal before the expiry of the deadline for withdrawal. The notice shall be sent by legally admissible means, that insure the transmission of the text of the document and the acknowledgement of receipt To pay to the Company the Credit and the related interest calculated as of the date when the Credit has been drawndown up to the date when the Credit is reimbursed; the interest shall be calculated based on the agreed Borrowing rate The Client shall pay to the Company the Credit that has been drawndown and the related interest according to the provisions of Article without any unjustified delay and not later than 30 calendar days from the time when the termination notice is sent to the creditor. The Company shall not be entitled to any other compensation from the Client in the event of withdrawal, except compensation for any non-returnable charges paid by the Company to any public administrative body Based on a written request addressed to the Company, the Client shall be entitled at any time to discharge fully or partially his obligations under the Credit agreement. No later than 3 (three) business days since it received the request, containing at least information about the sum the Client wishes to pay in advance, the Company shall revert with a calculation of the financial situation that would result following such payment. In such cases, the Client is entitled to a reduction in the Total Cost of the Credit, such reduction regarding the interest rate and costs related to the period between the date of early repayment and the date which is agreed for the termination of the Credit agreement. The Company shall be entitled to fair and objectively justified compensation for the costs directly linked to early repayment of credit provided that the early repayment falls within a period for which the borrowing rate is fixed. The compensation (i) may not exceed 1 % of the amount of credit repaid early, if the period of time between the early repayment and the agreed termination of the credit reimbursement exceeds one year, (ii) may not exceed 0.5% of the amount of credit repaid early, if the period of time between the early 13