Fast Financial Solutions

User Service Agreement

"Installment Agreement"

This agreement is made between the Lender and the Borrower, who mutually agree to abide by its terms. Both parties adhere to the principles of fairness, voluntarism, honesty, and integrity. This Small Loan Agreement ensures compliance with the agreed-upon terms and obligations.

Article 1: Loan Form

The loan is provided in the form of an unsecured loan requiring only a valid ID card for application.

Article 2: Premium Interest Rate

The total interest rate, fines, service charges, or any applicable fees shall not exceed 25% per year.

Article 3: Loan Tenure Obligations

During the loan tenure, the Borrower must:

1. Pay interest promptly as scheduled.

2. Repay the principal loan amount on time in accordance with the contract.

3. If the loan cannot be withdrawn due to the Borrower’s account issues, the Borrower must cooperate with the Lender to finalize the payment.

4. Comply with all contract terms without exception.

Article 4: Borrower’s Responsibilities and Breach of Contract

1. For online unsecured loans, the Lender assumes the risk. The Borrower must disclose their financial status to confirm their ability to repay. The full loan amount will be credited to the Borrower’s account upon approval.

2. After signing this contract, both parties must comply with all terms. If either party breaches the contract, the non-compliant party will be liable for a fine of 50% of the installment amount if no objection is raised. The aggrieved party has the right to pursue legal action.

3. If a credit transfer issue arises due to the Borrower’s account problems, the Borrower must assist the Lender in resolving the issue. The Lender will release funds after resolution.

4. The Borrower must repay the loan principal and interest within the contract's specified period. If the Borrower wishes to extend the loan, they must request an extension at least 5 days before the contract expires.

Article 5: Loan Approval Process

Before granting a loan, the Lender reserves the right to assess the following:

1. The Borrower’s compliance with all legal requirements, including necessary permits, approvals, and registrations.

2. Payment of applicable fees, if required.

3. The Borrower’s adherence to loan terms outlined in this agreement.

4. The Borrower’s financial stability—if a decline in financial status is observed, loan approval may be reconsidered.

5. Any contract violations by the Borrower.

Article 6: Loan Usage and Overdue Penalties

1. The loan must not be used for illegal activities. If found in violation, the Lender has the right to demand immediate repayment of the principal and interest, and the Borrower will bear full legal consequences.

2. The Borrower must repay the full loan amount (principal and interest) within the specified contract period.

3. For overdue payments, the Lender is entitled to charge a penalty of 5% of the total amount due and may pursue legal action.

Article 9: Assumption of Credit Risk & Insurance Requirement

1. The Lender assumes the Borrower’s credit risk.

2. Due to regulations concerning Overseas Filipino Workers (OFWs), the central office requires borrowers to purchase personal accident insurance as part of the loan process.

3. If the Borrower cannot repay the loan due to force majeure (unforeseeable circumstances), the Lender may request assistance from the insurance company to cover the repayment. The loan must then be transferred to the Borrower’s account as specified in the internal contract.

4. If the Borrower signs this contract but fails to comply within 30 minutes, the company will consider this a serious fraud case and escalate the credit dispute to the People’s Court.

5. If the Lender fails to release the loan after the Borrower completes all requirements, the Borrower has the right to sue directly in a local court.

Article 7: Modification or Termination of Contract

1. Neither party may unilaterally modify or terminate this contract without prior agreement.

2. If either party wishes to modify or terminate the agreement under legal provisions, written notification must be sent to the other party for settlement.

3. If the agreement is modified or terminated, the Borrower must repay at least 30% of the total loan amount (principal + interest) under the terms of this agreement.

Article 8: Dispute Resolution

1. Both parties agree to resolve any contract disputes through negotiation.

2. If negotiations fail, either party may seek mediation through the local arbitration committee or take the matter to court for legal resolution.

Article 10: Effective Date

1. This Small Loan Agreement becomes legally binding upon the signing of both parties (including electronic agreements).

2. The electronic and printed versions of this contract hold the same legal effect.

3. The Lender and Borrower must each retain a copy of this agreement.

Lender: Credit SANFACT LOAN LENDING Corporation