Honey Loan Loan Agreement

Terms of Service

Honey Loan is an unsecured and convenient loan software developed by WARM CASH LENDING CORP.By using, accessing, or browsing the Honey Loan on the website, mobile application, or other related digital medium or media (collectively referred to as the “Site”), you hereby signify that you have read and understood the Terms and Conditions of the Service (the “Loan Agreement”) and thus consent thereto. Upon your use of the Site, these Terms of Service shall thus constitute as a binding agreement between you and Honey Loan Should any of the content of the Terms of Service not be acceptable,Please stop using Honey Loan and exit the site.

Qualifications

  1. You ensure that you are at least 20 years old, of sound mind, in good standing, and have the legal capacity to enter into binding agreements, especially to use the products and/or services offered by the company.

  2. You are here to ensure that it is not a "robot" operation.

Services

  1. Through the platform, you can apply for a loan, provided you meet the eligibility criteria specified in the mobile app. You understand that Honey Loan has designated the platform to collect, verify, track your location, verify and confirm user data, documents and details that Honey Loan may require to approve a loan. Honey Loan collects and stores user data through mobile application forms available on the platform.

  2. Provide support for users to verify their financial capabilities.

  3. You understand here that when you apply for a loan, Honey Loan may check your records, including its own records, Honey Loan through any of its sources, credit reference agencies ( Any information obtained by CRA); personnel from the Fraud Prevention Agency (FPA), used to assess your credit, verify your identity to prevent and detect crime and money laundering.

Account

When you register an account with us, you are accepting the terms and conditions to consenting to our collection, usage, share, transfer, and protection of your personal information.

Accept terms and conditions

  1. As a user of this platform, you have agreed to the terms and conditions provided on this platform or anywhere else on this platform, including but not limited to the disclaimer of this platform.

  2. You are responsible for keeping your password, login name and account information confidential. You will be responsible to me and anyone who uses my password and login information (whether with my permission or not) for all use of the website. You will only use this website to search and apply for loans, and you will not use this website to make any fraudulent applications.

  3. It is recommended that you read and understand the above terms and conditions. If you do not wish to agree to these terms and conditions, please do not use the platform or any part of it.

  4. Honey Loan reserves the right to change, modify, add or delete parts of these terms and conditions at any time at its sole discretion. It is the user's responsibility to review these terms and conditions regularly for any updated changes. The user's continued use of the application or website after modifying these terms and conditions will mean that the user accepts the modification.

Payment

  1. Borrower must make payment according to the details provided in the application.

  2. Payment must be made on or before the due date.

  3. The day we send the funds may be different to the day the funds arrive in your account.

  4. Interest on your loan is fixed, which will be charge on the principal amount at per day basis.

  5. Service fee will be deducted directly from the principal amount upon disbursement, for the purpose of managing borrower account, processing the application and other.

Borrower

As a borrower, you agreed the following as fully described here:

  1. Understand and agree sources of loan shall be funded by Honey Loan;

  2. Credit Score provided by the third party shall be taken from information you provided,with this, credit score is only a guide that is calculated solely from information provided by you;

  3. Credit Score is solely for informational purpose only, to provide helpful and informative material on the subject. The Company will not provide legal or accounting advice or any information obtain through this Service;

  4. The Company does not and will not make loans or credit decisions base on the information delivered to you though this Service. The current rates and terms cannot and will not be adjust base on information displayed within this Service;

  5. For generating and managing your Loan Agreement, and for the service provided, we may send to lenders and their assignees, or to the borrowers, depending on the case for certain transactional data (ex. Name, loan amount, and repayment details etc.) but not your personal address or payment details;

  6. We may at any time, without noticing you, set off any liability owed to us or to our members by you, including (without limitation) in relation to any Account in your name.

User Content

By submitting content to the Site, you expressly agree to the following:

  1. You retain all ownership rights to the content you have uploaded on the Site.

  2. You hereby grant the Company a non-exclusive, transferable, sublicensable, royalty-free, world license to use, reproduce, distribute, prepare derivative works of, display, and perform any information or content that you provide in connection with your use of the Site and its services, subject to the privacy provisions in these Terms of Service and the Privacy Policy. You grant the Company the right to review, delete, edit, reformat, excerpt, or translate any of your information or content.

  3. You are solely responsible for the content and information you make available through or in connection with our products and services. The Company will not be liable for any use or misuse of your personal data by others.

  4. All the information and content posted on the Site or privately transmitted through the Site or via other means in connection with the Site’s services is the sole responsibility of the person from whom that content originated. The Company will not be responsible for any errors in or omission of any information or content posted by a user.

  5. The Company may access and use the information recorded by credit reference and fraud prevention agencies for purposes of assessing lending risks and identifying, preventing, detecting or tackling fraud, money laundering and other crimes.

Agreement or contract termination

This Loan Agreement is effective in accordance with the terms of the Loan Agreement or until all of the Borrower's loan obligations are fully paid to Honey Loan.

This agreement may be terminate by You, with settled amount owning to us at any time with or without advance notice to us. The amount to settled this Agreement will be the total following:

  1. Unpaid balance of the principal debt;

  2. Unpaid interest charges and all other fees, payable until the settlement date;

  3. If you’ll like the settled the amount with statement of settlement, we will be providing you the statement which should be done within 5 business days.

We have the right to unilaterally terminate this agreement at any time in the event of any of the following circumstances:

  1. The borrower's financial condition, reliability and solvency do not meet the loan requirements, i.e. when the borrower will not be able to repay the debt;

  2. When the borrower (or guarantor) dies, becomes bankrupt, files for bankruptcy or delays in paying off its debts or fails to pay its debts to Honey Loan for any reason;

  3. When the assets of the borrower (or guarantor) have been seized in whole or in part by the competent authority;

  4. If the Borrower fails to fully perform any obligations under this contract or the rules commonly used by Honey Loan or to be implemented in the future, the Borrower is in a state of negligence and such negligence is sufficiently proven to fail to properly perform one of these obligations in due time.

Based on the above regulations, when Honey Loan terminates this loan agreement, all borrowers including borrower's interest, fees and penalties are immediately recoverable. Here's what borrowers need to know.

Responsibility for account

You are solely responsible for maintaining the confidentiality of your username, password, account and any other login or authentication and validation information you created or provided to the Site (“Unique User Credentials”). By creating and maintaining your account, you agree to honor all activities performed and obligations contracted using your account.

You agree and confirm that any use of your Unique User Credentials shall at all times be presumed to be access by you and, if by a third party, with your consent and authority. Any and all activities or transactions using your Unique User Credentials shall be valid and binding transactions created, committed and performed by you.

If there is an unauthorized use of your account or a breach of its security, you hereby undertake to notify the Company of the relevant circumstances thereof immediately.

Restrictions on use

You agree to abide by all applicable terms and conditions, laws and regulations in your use of the Site, its products and services. In addition, you agree that you will not do any of the following:

  1. register for more than one account, or register for an account on behalf of an individual other than yourself or on behalf of any group or entity;

  2. post or otherwise make available content, or take any action on the Site, that may constitute libel or slander or that infringes or violates someone else’s rights or is protected by any copyright or trademark, or otherwise violates the law;

  3. post or otherwise make available content that in the Company’s judgment is objectionable, such as content that is harmful, threatening, inflammatory, obscene, fraudulent, invasive of privacy or publicity rights, hateful, or otherwise objectionable, or which restricts or inhibits any other person from using or enjoying the Site, or which may expose the Company or users of the Site to any harm or liability of any type;

  4. use the information or content on the Site to send unwanted messages to any other user;

  5. impersonate any person or entity, or falsely state or otherwise misrepresent yourself, your age or your affiliation with any person or entity;

  6. post or otherwise make publicly available on the Site any personal or financial information of any third party;

  7. use the Site or our products and services in any manner that could damage, disable, overburden or impair the Site;

  8. harvest or collect email addresses or other contact information of other users from the Site by electronic or other means, including the use of automated scripts;

  9. post or otherwise make available any material that contains software viruses or any other computer code, files or programs designed to interrupt, destroy or limit the functionality of any computer software or hardware or telecommunications equipment.

Entire agreement

This Terms of Use (including the Service Agreement for the Registered User only) constitutes and contains the entire agreement and understanding between the User and Us and supersedes any and all prior understandings, agreements, notification, publications, advertisements and arrangements between the User and Us with respect to the subject matter hereof.

Privacy

Honey Loan will collect certain information from you to provide services. Honey Loan's use of your personal information is governed by the privacy policy located at https://warmcashlendingcorp.com.

Limitation of Liability and Disclaimer

You shall be liable for any loss or damage suffered by the Company and/or its users as a result of

  1. As a user, you also acknowledge that Honey Loan maintains and implements all possible checks and balances to ensure the credibility of users listed on the platform. The information provided on the website application is based on information provided to Honey Loan by its users. If the user does not disclose any information by Honey Loan, and Honey Loan is not discovered at the first time, Honey Loan does not assume any claim or responsibility. In any event, Peso chooses not to be liable for any default on borrowing from the finance partner, who has the right to sue the borrower for default. Honey Loan shall do everything in its power to assist the relevant user with information to initiate any legal proceedings. However, Honey Loan does not imply that the user is responsible for any breach of contract Honey Loan is only an information technology platform and the user is entitled to make his/her own efforts before taking any steps to initiate the platform or the process outlined in any part thereof.

  2. Honey Loan (including its officers, directors, employees, representatives, affiliates and suppliers) shall not be liable for (i) any injury, death, loss, claim, force majeure, accident, delay or any direct, special, punitive , based on contract, tort, strict liability, or otherwise, by (a) any failure or delay (including, without limitation, use or inability to use any component of the Site), or (b) any use of the Site or the Content, or ( c) the performance or non-performance of Honey Loan or any supplier, or (ii) any damage or virus to my computer equipment or other property caused by my access to the website or downloading of any content from the website.

Applicable law

Your use of the Platform and any terms and conditions set forth in this Agreement shall be governed by the laws . The courts will have exclusive jurisdiction in the event of any dispute arising out of the use of the Platform or any part thereof. In any such action or any action we may bring, the prevailing party will be entitled to recover all legal costs associated with the legal action, including without limitation taxable and non-taxable costs and reasonable attorneys' fees.

DISCLOSURE STATEMENT &AMORTIZATION TABLE

PAYMENT SCHEDULE
Term of Loan (Days) Annual interest rate Interest (Loan term Interest & Interest Delayed) Service Fee Penalty Fee Late Payment Fee
121 days(4 month) 24% 2% per month 0%
(Deducted one time)
1% per day 2% per month
(Deducted one time)

SAMPLE DISCLOSURE STATEMENT
The principal amount of loan 1,000-80,000
Rate of interest(Loan term Interest & Interest Delayed) of the loan 2% per month
Service or processing fee 0%
Amortization schedule Please Refer on the table below
Any penalty charge for late amortization payment Please Refer on the table below
Collection fee 0
Notarial fee 0
All other fees in connection with the loan transaction hidden fees:0
Description of the collection and lien enforcement Procedures Description of the collection procedure : Phone calls, sending SMS , demand letters
Lien: Not Applicable (Unsecured Loan)
Method of calculating the total amount of obligation in case of default Principal Amt + interest(Loan term Interest & Interest Delayed) of loan(1.3% per day) + One time late charges (3%) + Penalty Per day (1.5% per day)

SAMPLE AMORTIZATION TABLE
Principal Amount of Loan 10000
Term of Loan (Days) 121 days(4 Month)
Interest(Loan term Interest & Interest Delayed) annual interest rate:24% (121 days loan=8%) 800
Total Amount of Loan to be Paid On Time 10800
Less
Service Charge (0% of the principal) 0
Amount to be Received 10000

Update Loan Agreement

The Company reserves the right to make changes to these Terms of Service (“Updated Terms”) at any time. Unless the changes in the Terms of Service are for legal or administrative reasons, the Company will provide reasonable advance notice before the Updated Terms become effective by posting the Updated Terms on the Site.

Your use of the Site after the effective date of the Updated Terms constitutes your agreement to the Updated Terms. You should review these Terms of Service and any Updated Terms before using the Site.