1.1. The Parties to this Agreement
Moneyvation Technologies Private Limited, whose registered office is at 269,1st Floor, 6th Block, Koramangala, Bengaluru-560034 (“Company”), is the owner of the website, www.loancircle.in (“Website”) and herein after shall be referred to as “LoanCircle” or ' ‘us’ or ‘we’. As a user (“User”) of this Site, the User understands that LoanCircle is an online platform providing access between multiple Users in the form of lenders, borrowers, service providers etc. with a view to facilitate lending and borrowing activities between the Users.
1.2. Changes to this Agreement
LoanCircle may unilaterally decide to change this Agreement from time to time, provided, however, that such changes will not impose additional obligations on you with respect to actions you took before the change became effective unless you specifically agree to such changes .If this Agreement is changed, LoanCircle will give notice to users by posting a new version of this Agreement on our website 7 days before that version becomes effective. If LoanCircle makes any changes to this Agreement that it deems to be material, LoanCircle will make a reasonable effort to inform you of such changes, but it is your responsibility to review the Agreement posted to our website from time to time to see if it has been changed.
1.3. Your Eligibility
To be eligible to use the Services, you must be at least 18 years old and an Indian citizen. You represent and warrant that you are eligible to use the Services.
I authorize LoanCircle, on behalf of its Financing Partners, to make any enquiries with any other finance company / bank / registered credit bureau regarding my credit history with them.
2.1. Taking Loans
You may avail of loans from LoanCircle either directly from the website or through our Merchant Partners. LoanCircle is the technology and operating partner to our financing partners. As a service provider, LoanCircle is fully responsible for communicating, transacting and processing on behalf of our financing partners. At no point, LoanCircle is representing as a lending company. Please refer to your Loan Agreement for details on your contract with the Financing Partner.
2.2. Cancelling Transactions
Loan approval process is as per the discretion of the Financing Partners. LoanCircle may choose not to provide service to you or to specific merchant sites at any time for any reason, including but not limited to, your creditworthiness, your history of transactions on our site, the merchant's account history or any other reason. LoanCircle may cancel transactions at any time before a Merchant delivers any goods or services if you violate any term of this Agreement.
2.3. Collecting Information About You
2.4. Credit Investigation and Reporting
By using the LoanCircle Service, you give LoanCircle, on behalf of the Financial Partners, permission to investigate your credit record and obtain your credit report in connection with the review of your application for credit. A credit report may also be requested in connection with a credit extension, credit limit request, account renewal, account collection action or dispute investigation. You understand that LoanCircle may report negative information (such as late payments, missed payments, or other defaults) about your account to credit reporting agencies.
You agree to allow LoanCircle, on behalf of the Financing Partners, to send you payment reminders from time-to-time. Notwithstanding whether you have consented, you agree that payment reminders may take the form of any available communication. You also agree that if you fail to pay an amount owed to the Financing Partners pursuant to this Agreement, LoanCircle may engage in collection efforts to recover such amounts from you. These collection efforts may involve contacting you directly, submitting your information to a collections agency, or taking legal action. FAILURE TO PAY MAY AFFECT YOUR CREDIT SCORE.
2.6. Communication & Notification
You agree that LoanCircle may provide you communications about your account and the LoanCircle Service electronically or through phone calls or in writing. Standard mobile, message, or data rates may apply and you are responsible for any such fees. LoanCircle reserves the right to close your account and get Financing Partners to immediately collect all due amounts if you withdraw your consent to receive electronic or other communications or if you revoke access to any third party site on which the LoanCircle Service relies (e.g., Facebook, Twitter, etc.) or if any such service should revoke or cancel your account on that site. Any electronic communications will be considered to be received by you within 24 hours of the time we email it to you or otherwise send it to your attention (such as via sms or other online notification). We may assume you have received any communications sent to you by postal mail 3 business days after we send it.
If we need to contact you to service your account, you give direct consent to us, as well as servicers, agents, contractors and collectors of your account, to communicate with you in any way, such as calling, texting, or e-mail via:
2.7. Working with Third Parties
If you grant express permission to a third party to take specific actions on your behalf, or access particular information about your account, either through your use of the third party's product or service or through your LoanCircle account, you acknowledge that LoanCircle may disclose the information about your account that is authorized by you to this third party. You also acknowledge that granting permission to a third party to take specific actions on your behalf does not relieve you of any of your responsibilities under this Agreement. Further, you acknowledge and agree that you will not hold LoanCircle responsible for, and will indemnify LoanCircle from, any liability arising from the actions or inactions of this third party in connection with the permissions you grant.
3.1. Agreement to Provide Accurate Information
When you provide information to LoanCircle, you agree to provide only true, accurate, current and complete information about yourself and you agree not to misrepresent your identity or your account information. You further agree to keep your account information up to date and accurate.
3.2. Delays in Processing
In some cases when you attempt to use the LoanCircle Services to make a purchase, the transaction may be held as pending or be otherwise delayed for processing and confirmation by either LoanCircle or the merchant and can be cancelled at any time until it is confirmed by LoanCircle.
3.3. User Responsible for Fees
If you use the LoanCircle Services, you are responsible for any fees or other amounts that your phone service provider charges, such as fees for SMS, data services, and any other fees that your phone service provider may charge.
3.4. Repayment Methods
You may use one of the acceptable methods of payment to make automatic monthly account payment.Currently acceptable methods of payment are:
3.5. Access to Your Account
You are responsible for maintaining the secrecy of the login credentials to your LoanCircle account. You agree to establish reasonable security procedures and controls to limit access to your password or other identifying information to authorized individuals, which includes choosing passwords and other credentials in a manner that will protect the security of your information. Your credentials include your username and password to your LoanCircle account and to any 3rd Party account you have used to login to your LoanCircle account. You are also responsible for maintaining the accuracy of the information in your LoanCircle account.
3.6. Website Content
The information on the LoanCircle's website is for information purposes only. It is believed to be reliable, but LoanCircle does not make any promises as to its completeness, timeliness or accuracy. The information and materials contained in the Website, and in this Agreement, are subject to change without notice.
Access to the Services may from time to time be unavailable, delayed, limited or slowed due to, among other things:
3.7. Links to Other Websites
Links to non- LoanCircle websites are provided solely as pointers to information on topics that may be useful to users of the Services, and LoanCircle has no control over the content on such non-LoanCircle websites. LoanCircle makes no warranties concerning the content of such websites, including the accuracy, completeness, reliability of said websites, nor does LoanCircle warrant that such website or content is free from any claims of copyright, trademark or other infringement of the rights of third parties or that such site or content is devoid of viruses or other contamination. If you choose to follow a link to a website not controlled by LoanCircle, you must do so at your own risk. LoanCircle does not guarantee the authenticity of documents on the Internet. Links to non-LoanCircle websites do not imply any endorsement of or responsibility for the opinions, ideas, products, information or services offered at such sites, or any representation regarding the content at such websites.
3.8. Closing Your Account
3.9. Dormant Accounts
By using LoanCircle's Website or Services, you agree that:
5.1 Disputes with LoanCircle
If a dispute arises between you and LoanCircle, our goal is to provide you with a neutral and cost-effective means of resolving the dispute quickly. In the event of a dispute we encourage you first to contact LoanCircle at contact@LoanCircle.in to try resolving your problem directly with us.
5.2 Consumer Consent
Before completing any transaction on LoanCircle, you will be asked to consent to the LoanCircle Terms of Service. This action constitutes your electronic signature and manifests your consent and agreement to the following terms:
5.3 Minimum Requirements
You understand that, in order to view and/or retain copies of the Disclosures, you may need a computer with an Internet connection (PCs should be running Windows 7 or higher and Internet Explorer 10 or higher, Chrome, or Firefox; Macs should be running OSX and Safari, Chrome, or Firefox); a mobile device (iOS 6.0 or higher devices running Safari or Chrome; Android 4.0 or higher devices running Android Browser or Chrome), a valid email address, a working mobile telephone number that can receive text messages, sufficient storage space to save Disclosures or the capability to print the Disclosures from the device on which you view them.
5.4 Withdrawing Consent
You are free to withdraw Your Consent at any time. If at any time you wish to withdraw Your Consent, you can send us your request by mailing us at firstname.lastname@example.org. If you decide to withdraw Your Consent, the legal effectiveness, validity and/or enforceability of prior electronic Disclosures will not be affected and your account will be closed.
5.5 Updating Your Contact Information
You can update the mobile phone number or email address LoanCircle uses to send you Disclosures or alerts by mailing us at email@example.com.
5.6 Legal Effect
Your consent to this E-Sign Consent means that Disclosures LoanCircle provides to you electronically shall have the same meaning and effect as if provided in paper form. An text message or email alerting you that Disclosures are available electronically, provided that the Disclosures are made available online shall have the same meaning and effect as if LoanCircle had provided those Disclosures to you in paper form, regardless of whether you actually view those Disclosures, unless you have withdrawn your consent pursuant to Section 3, above, prior to receiving such Disclosures.
You agree that LoanCircle may modify or change the methods of disclosure described herein, and that LoanCircle may send you Disclosures in paper form at its option. You also agree that LoanCircle is not responsible for any delay or failure in your receipt of any text message or email notice that is not caused by LoanCircle's failure to send such a notice to the phone number or email address you have provided for that purpose.