LOAN AGREEMENT

General Terms and Conditions

1. DEFINITION OF TERMS

The following key terms are defined as follows:

“Borrower” refers to the party to whom the loan was extended by the Lender.

Effective October 12, 2019, all clients must studied and signed disclosure statement/loan agreement before disbursement of their loan.

“Disbursement Date” refers to the date when the Lender deposited the loan amount to the bank account provider by the Borrower.

“Due Date” refers to the date when the Borrower has fully paid the payment amount to the Lender.

“Interest” refers to the regular;

• a. 0.7% loan interest per day on the loan amount. - Applications received until 11:59 PM of May 09, 2018
• b. 0.8% loan interest per day on the loan amount. - Applications received from  12:00 MN of May 10, 2018 to 11:59 PM of July 22, 2018
• c. 1% loan interest per day on the loan amount. - Applications received from 12:00 MN of July 23, 2018 to 11:59 PM of July 30, 2018
• d. 0.8% loan interest per day on the loan amount. - Applications received from 12:00 MN of July 31, 2018 to 11:59 PM of September 17, 2019
• e. 0.9% loan interest per day on the loan amount. - Applications received from 12:00 MN of September 18, 2019 onwards
• f. Interest rate for applicants that recieved promo code will vary

“Late Payment Charges” refers to the fixed amount of fine imposed by the Lender for failure of the Borrower to settle any payment amount.

“Lender” refers to Asteria Lending, Inc..

“Loan Agreement” refers to the agreement entered into by and between the Lender and the Borrower which includes the General Terms and Conditions, the Loan Application and the Repayment Instruction.

“Loan Amount” refers to the principal amount approved by the Lender disbursed to the Borrower less the 10% processing fee.

“Loan Term” refers to the period of time approved by the Lender for the Borrower to make repayment.

“Payment Amount” consists of the Loan Amount plus the

• a. 0.7% interest rate per day.  - Applications received until 11:59 PM of May 09, 2018
• b. 0.8% interest rate per day -  Applications received from  12:00 MN of May 10, 2018 to 11:59 PM of July 22, 2018
• c. 1% interest per day - Applications received from 12:00 MN of July 23, 2018 onwards to 11:59 PM of July 30, 2018
• d. 0.8% interest per day - Applications received from 12:00 MN of July 31, 2018 onwards to 11:59 PM of September 17, 2019
• e. 0.9% interest per day - Applications received from 12:00 MN of September 18, 2019 onwards
• f. Interest rate for applicants that recieved promo code will vary

“Penalty Fee” refers to the penalty rate of 1% per day in addition to the regular 0.7%, 0.8%, 0.9% and 1% interest rate per day which is charged to the Borrower for failure to settle any payment amount computed from the time the unpaid obligation becomes due and payable until fully paid.

“Processing Fee” the amount of administrative fee deducted by the Lender from the approved loan for processing the loan application.

“Repayment” refers to the Borrower’s settlement of the payment amount on or before due date.

“Repayment Instruction” refers to the written instrument transmitted by the Lender via email to the Borrower informing the latter that the loan amount has been disbursed to the bank account provided by the Borrower, the loan details, processing fee, repayment guide and reminders in case of failure of payment.

2. PURPOSE OF THE LOAN

The LENDER extends a loan to the BORROWER which shall be used by the BORROWER for a legitimate purpose.

3. LOAN AMOUNT AND TERM

It is the option of the LENDER to set (i) the loan amount that will be extended to the BORROWER and (ii) the loan term, ranging from seven (7) to thirty (30) calendar days, which shall be established by the LENDER upon approval of the loan.

4. REPAYMENT

1. The BORROWER that applied prior to May 9, 2018 00:00 undertakes to settle the payment amount on or before the due date with an interest rate of 0.7% per day. Interest shall begin to accrue upon disbursement of the loan to the Borrower’s account.
2. The BORROWER that applied After May 9, 2018 00:00 to July 22, 2018 23:59 undertakes to settle the payment amount on or before the due date with an interest rate of 0.8% per day. Interest shall begin to accrue upon disbursement of the loan to the Borrower’s account.
3. The BORROWER that applied After July 22, 2018 00:00 to July 30, 2018 23:59 undertakes to settle the payment amount on or before the due date with an interest rate of 1% per day. Interest shall begin to accrue upon disbursement of the loan to the Borrower’s account.
4. The BORROWER that applied After July 31, 2018 00:00 to September 17, 2019 23:59 undertakes to settle the payment amount on or before the due date with an interest rate of 0.8% per day. Interest shall begin to accrue upon disbursement of the loan to the Borrower’s account.
5. The BORROWER that applied After September 18, 00:00 onwards undertakes to settle the payment amount on or before the due date with an interest rate of 0.9% per day. Interest shall begin to accrue upon disbursement of the loan to the Borrower’s account.
6. The BORROWER that receives Promo Code undertakes to settle the payment amount on or before the due date with an interest rate varies from the promo code per day. Interest shall begin to accrue upon disbursement of the loan to the Borrower’s account.
7. The BORROWER shall receive the repayment instruction thru email after disbursement to the BORROWER of the approved loan amount. The said schedule shall form part of this Agreement as Annex “A” - Repayment Instruction.
8. The BORROWER shall be charged a processing fee of 10% of the LOAN which shall deducted upfront before actual disbursement of the loan.
9. If the BORROWER fails to pay any payment amount during the term, the LENDER shall charge a penalty fee of one percent (1%) per day, on top of the regular interest rate of 0.7%, 0.8%, 0.9% or 1% per day, computed from the time the unpaid obligation becomes due and payable until fully paid plus late payment charges as provided in the Repayment Instruction.
10. The BORROWER shall be required to pay in cash to the payment service providers which are in partnership with the LENDER or through any payment facilities as directed or accepted by the LENDER.

5. REPRESENTATIONS AND UNDERTAKINGS

1. The BORROWER hereby warrants and represents that:

1. This Agreement and related documents are and will continue to be valid and enforceable in accordance with their respective terms.

1. Will not violate any provision of any pertinent law, regulation, decree and order of any contract binding on the BORROWER.

• No action or proceeding has been filed before any court or government agency of any jurisdiction which may materially and adversely affect the financial capacity of the BORROWER or the validity and enforceability of this Agreement and related documents.

1. The BORROWER has disclosed to the LENDER true, complete and accurate pieces of information which are material, relevant and necessary to the approval of the Loan.

1. The BORROWER hereby undertakes that during the Loan Term:

1. The BORROWER shall notify the LENDER thru [email protected] within three (3) calendar days from any change in the BORROWER’s name, civil status, residential address, mobile /telephone number.
2. The BORROWER shall notify the LENDER thru [email protected] of any change in the BORROWER’s employment, business or profession. In the event the BORROWER is self-employed, the BORROWER hereby undertakes to keep the LENDER informed on the financial status of his or her business on a periodic basis as requested by the LENDER.

• The BORROWER shall not incur additional indebtedness for its account without the written consent of the LENDER.

1. Any enactment, official action, act of war, act of nature or other force majeure /fortuitous event or other similar circumstances shall in no way affect the obligation of the BORROWER to make repayment.

6. EVENTS OF DEFAULT

The BORROWER is in default under this Agreement, without need for any notice to the BORROWER, or any act or deed, in case one or more of the following occur:

1. The BORROWER has failed to comply with any provision of the Loan Agreement or related documents and to promptly and fully pay when due the loan or any amortization, or interest or other charges thereon;

1. Any representation, warranty or undertaking of the BORROWER in this Agreement or in any related documents is untrue or ceases to be true in any material aspect or violated or not complied with.

1. There is a breach of any other agreement executed by the BORROWER or breach of obligation to pay any person or entity for the payment of borrowed money which materially and adversely affecting the BORROWER’s ability to fully and promptly pay the loan.

1. Any circumstance or event which likely to have a material adverse effect on the BORROWER's financial condition.

1. Any changes in the laws of Philippines which have negative impact on the LENDER’s consideration to continue with the Loan.

7. CONSEQUENCES OF DEFAULT

When the BORROWER is in default pursuant to Section 6 above, such default shall have the following effects:

1. All the outstanding liability or any portion thereof under this Agreement, shall without need for any act or deed (i) become immediately due and payable (ii) subject to penalty and late payment charges as per Section 4 (d) hereof computed from the time the unpaid obligation becomes due and payable until fully paid.

1. The LENDER shall have the right to exercise and enforce all the rights and remedies now or hereafter available to it under this Agreement, any applicable laws and any other contracts.

8. NOTICE ON SUBMISSION OF BASIC CREDIT DATA IN COMPLIANCE WITH REPUBLIC ACT NO. 9510

Pursuant to Republic Act No. 9510 or the Credit Information System Act, the Credit Information Corporation (CIC) was established to become the government-owned and controlled central registry of credit information in the Philippines. The CIC shall collect, consolidate, and share information relevant to credit-related activities of all lending entities and other entities participating in the financial system.

In compliance, the LENDER will submit the BORROWER’s basic credit data as well as any regular updates or correction thereof to the CIC for consolidation and disclosure as may be authorized by the CIC. Such credit data may be shared by the CIC with other authorized lenders and other duly accredited credit reporting agencies for the purpose of establishing your creditworthiness.

For reference, below is the definition of basic credit data as provided in RA 9510 and its Implementing Rules and Regulations (IRR):

“Basic credit data” refers to positive and negative information provided by a borrower to a submitting entity in connection with the application for and availment of a credit facility and any information on the borrower’s creditworthiness in the possession of the submitting entity and other factual and objective information related or relevant thereto in the submitting entity’s data files or that of other sources of information.

For more details, please visit www.creditinfo.gov.ph.

9. DATA PRIVACY STATEMENT & AUTHORIZATION

Commitment to Privacy

We maintain a policy of protecting your right to privacy regarding the collection and use of your personal data on this website. Our privacy policy applies to all visitors of this site, whether or not you are our client using our online loan application facility, or just visiting our website. We safeguard all pieces of information that you may provide us.

In general, you can visit our website without disclosing any information about yourself. We collect technical information that is normally collected as a standard part of your browsing activity. This may include your IP-address, access times, system activity, device identifier and hardware information, and other log information that is collected when you browse or visit our website. We use "cookies" to assist us recognize and count the number of users of our Sites and understand how such users navigate through our Site.

Rest assured that the handling of your personal data adheres to established security standards and procedures. In addition, internal controls are in place in our systems and processes to prevent any personal data breach which undergoes continuous assessment in an effort to improve securing your privacy.

Collection of Personal Data

We will only collect your personal data through secure means. During the registration and/or loan application process, the following personal data may be collected from you:

• Full Name
• Contact details like Email Address and Mobile number, Complete address
• Gender, Civil Status, Date of Birth
• Name of employer, Company address
• Type of work, Hiring date
• Bank account details
• Government issued ID
• Mother’s Maiden Name
• Facebook URL
• Monthly Gross Income, Monthly Household Expenses
• Spouse Full name, Spouse Mobile Number
• Personal References i.e. Family, Co-Worker, Supervisor

When you apply for a loan, we will collect credit reports from a credit bureau which include important data on how you maintain loan payments such as repayments and any delinquencies.

We verify your identity and validate the personal data you provided in your loan application via a recorded line through our Verification Department.

You must only submit to us (via our official website) information which are accurate and complete and not misleading. You must keep it up to date and inform us of any changes. We require documentation to verify the information which you have provided. We will only be able to collect your personal data if you voluntarily submit the information to us. If you choose not to submit your personal data to us or subsequently withdraw your consent to our use of your personal data, we may not be able to process your loan application.

Use and Disclosure of Personal Data

The personal data we collect from you will be used for the following purposes:

• To process your loan application, loan disbursements and collection of payment.
• To communicate with you concerning your account and transactions, including addressing any concerns that you may raise.
• Credit review and reporting.
• Statistical and risk analysis.
• To contact you and send you marketing and/or promotional offer/s and materials about our products from time to time.
• To establish and maintain accurate “know your client” information and to prevent or detect money laundering, terrorist financing or other unlawful activities.
• To monitor and record calls for record keeping, quality assurance, customer service, investigation, litigation and fraud prevention purposes;
• For crime and fraud detection, prevention, investigation and prosecution.
• To enforce (including without limitation collecting amounts outstanding) or defend our rights.

We may share your information with third parties to help us conduct our business, such as but not limited to facilitating fund transfers, collection of payments and technical support. We may share your personal data with such entities, which are authorized to use your personal data only as necessary to provide these services.

We likewise share your personal information with credit bureaus to meet our credit reporting obligations. We will cooperate and share personal data with government authority for the fulfillment of any legal or regulatory requirement or request as deemed necessary.

In sharing your personal data, we endeavor to ensure that the third parties are contractually bound to keep your personal data secure from unauthorized access, collection, use, disclosure, or similar risks and retain your personal data only for as long as they need your personal data to achieve the abovementioned purposes.

We are not engage in the business of selling clients’ personal data to third parties.

How We Keep Personal Data Secure

Personal data collected are stored in a secure data facility. We have adequate security safeguards to protect personal data from loss, unauthorized access, use or disclosure. We ensure that internal controls are in place in our systems and processes which undergoes continuous assessment to improve securing your privacy.

Security features of computer database system, include:

• SSL
• Cloudfare DNS
• Cloudfare WAF
• Cloudfare Firewall
• ComodoMod_Security
• Ruleset
• Configserver Firewall

Rights of the Data Subject

Under the Data Privacy Act of 2012, data subject refers to an individual whose personal data is collected and processed. We are duly bound to observe and respect your privacy rights as data subject, including the right to information, right to access, right to correct, right to remove, right to damages and right to data portability.

You may learn about your rights by reading Republic Act No. 10173 (the DPA), its implementing rules and regulations, and other issuances of the NPC. You may also visit the site of the NPC at https://privacy.gov.ph or follow the NPC’s facebook page at www.facebook.com/privacy.gov.ph.

Retention and Disposal of Personal Data

In compliance with applicable laws, we keep the personal data we collected from you while you are a client or until we no longer need it for business, tax, or legal purposes. When we dispose of your personal data, we use reasonable procedures to destroy it or make it unreadable (such as shredding or by wiping electronic data).

Client’s Responsibility

Protect your information. We encourage you to be vigilant in protecting your personal data by ensuring that your card & account details, PINs, username and password are not disclosed to others nor written somewhere where it will be accessible to others. We likewise advise you to use unique strong passwords and to change them regularly. Further, we require that you sign off when you have finished your sessions on our website.

Use secure means to communicate with us. You can contact us through our website, facebook and contact center. Rest assured that information coursed through these channels is protected by the security of our systems.

Report any data breach. If you think that your personal data has been compromised without your consent, please do not hesitate to contact our Data Protection Officer through the following:

Data Protection Officer 
Address: Unit 14B The World Centre 330 Sen. Gil Puyat Avenue Makati City
Telephone Number: 318 8000
E-mail Address: [email protected]

Withdrawal of Consent

You may communicate your objection to our continued use and/or disclosure of your personal data for any of the purposes and in the manner as stated above by contacting us at our email address above.

You have the right to make decisions on how to use, process, or share your personal information.

We encourage you to make decisions that will enable us to provide you with quality service.

Changes to the Privacy Policy

We reserve the right to modify and change the Privacy Policy at any time. Any changes to this policy will be published in the website.

Any updates to the privacy policy become effective when posted on the websites. If we make any material changes, we will notify you by email or by providing the revised privacy policy in your account. Your continued use of our services following the update means that you accept our updated privacy policy. For additional information, or if you have any questions regarding this policy or our privacy practices please submit your questions or comments directly to [email protected].

AUTHORIZATION

I have read and understood the foregoing Data Privacy Statement of Asteria Lending, Inc. (“the Company”) and I hereby give my consent to the processing of my personal data which is necessary to effectively and efficiently process my loan application, manage my account and for other lawful purposes specified in the Data Privacy Statement. In this regard, I confirm that the personal data I have provided to the Company are true, accurate and complete.

I likewise expressly authorize to the transfer of such personal data to third parties to assist the Company in the conduct of its business, such as but not limited to facilitating fund transfers, collection of payments and technical support. I further allow the Company to share my personal data with credit bureaus and government authority for the fulfillment of any legal or regulatory requirement or request as deemed necessary.

I agree that the continued loan availment or maintenance of account or relationship with the Company shall be deemed as acceptance and agreement to be bound by the provisions of the Data Privacy Statement.

I hereby hold the Company free and harmless from any all liabilities and/or damages which I may incur in the proper and lawful processing of my personal data as authorized herein.

10. INDEMNIFICATION

The BORROWER shall indemnify, protect, defend and save free and harmless the LENDER, its officers, directors, shareholders, agents and employees against any and all liabilities, claims, suits, demands, damages, judgments, costs, fines, penalties, interest and expenses (including all professional fees and expenses thereof) which the LENDER, its officers, directors, shareholders, agents or employees may suffer or be made liable for arising out of or in connection with any breach or violation by the BORROWER of this Agreement.

11. ASSIGNMENT

The LENDER may at any time: (i) assign its rights and obligations pertaining to the Loan; or (ii) create a security in or over any or all of its rights or obligations under this Agreement to any person or 3^rd party entity. The BORROWER is not permitted to assign or transfer any of his rights or obligations under this Agreement without the prior written consent of the LENDER.

12. NOTICES

All instructions, notices, requests and other communications required or permitted to be given hereunder shall be in writing and shall be deemed to have been fully given on the date of actual receipt if delivered personally, or on the date sent by registered mail, confirmed fax, confirmed email communication or through a reputable courier service to the BORROWER and authorized representative of the LENDER.

13. WAIVER

The delay or failure of the Lender to exercise of any of its rights in this Agreement shall not be construed or deemed as a waiver of the Lender to the exercise of such rights.

14. VENUE

Any legal action or proceeding arising out of or in connection with this Agreement and related documents shall be brought exclusively in the proper court of Makati City.

15. SEVERABILITY

If any part of this Agreement is declared unenforceable or invalid for any reason, the remainder will continue to be valid and enforceable.

16. GOVERNING LAW

This Agreement shall be governed by and construed in accordance with Philippine law.