Last updated: June 16, 2020
1. Interpretation and Definitions
The words of which the initial letter is capitalized have meanings defined under the following conditions. The following definitions shall have the same meaning regardless of whether they appear in singular or in plural.
- You means the individual accessing or using the Service, or the company, or other legal entity on behalf of which such individual is accessing or using the Service, as applicable.
- Company(referred to as either “the Company”, “We”, “Us” or “Our” in this Agreement) refers to Fintechnology Inc., 3rd Floor Guevent Building, #52 D.M. Guevara St. corner Calbayog St., Mandaluyong City, Philippines.
- Affiliate means an entity that controls, is controlled by or is under common control with a party, where “control” means ownership of 50% or more of the shares, equity interest or other securities entitled to vote for election of directors or other managing authority.
- Account means a unique account created for You to access our Service or parts of our Service.
- Website refers to Fundko, accessible from https://fundko.com/
- Service refers to the Website.
- Country refers to: Philippines
- Service Provider means any natural or legal person who processes the data on behalf of the Company. It refers to third-party companies or individuals employed by the Company to facilitate the Service, to provide the Service on behalf of the Company, to perform services related to the Service or to assist the Company in analyzing how the Service is used.
- Third-party Social Media Service refers to any website or any social network website through which a User can log in or create an account to use the Service.
- Personal Data is any information that relates to an identified or identifiable individual.
- Cookies are small files that are placed on Your computer, mobile device or any other device by a website, containing the details of Your browsing history on that website among its many uses.
- Device means any device that can access the Service such as a computer, a cellphone or a digital tablet.
- Usage Data refers to data collected automatically, either generated by the use of the Service or from the Service infrastructure itself (for example, the duration of a page visit).
2. Collecting and Using Your Personal Data
2.1 Types of Data Collected
While using Our Service, We may ask You to provide Us with certain personally identifiable information that can be used to contact or identify You. Personally identifiable information may include, but is not limited to:
- Email address
- First name and last name
- Phone number
- Address, State, Province, ZIP/Postal code, City
- Usage Data
Usage Data is collected automatically when using the Service.
Usage Data may include information such as Your Device’s Internet Protocol address (e.g. IP address), browser type, browser version, the pages of our Service that You visit, the time and date of Your visit, the time spent on those pages, unique device identifiers and other diagnostic data.
When You access the Service by or through a mobile device, We may collect certain information automatically, including, but not limited to, the type of mobile device You use, Your mobile device unique ID, the IP address of Your mobile device, Your mobile operating system, the type of mobile Internet browser You use, unique device identifiers and other diagnostic data.
We may also collect information that Your browser sends whenever You visit our Service or when You access the Service by or through a mobile device.
Tracking Technologies and Cookies
You can instruct Your browser to refuse all Cookies or to indicate when a Cookie is being sent. However, if You do not accept Cookies, You may not be able to use some parts of our Service.
Cookies can be “Persistent” or “Session” Cookies. Persistent Cookies remain on your personal computer or mobile device when You go offline, while Session Cookies are deleted as soon as You close your web browser. Learn more about cookies: All About Cookies.
We use both session and persistent Cookies for the purposes set out below:
- Necessary / Essential Cookies
Type: Session Cookies
Administered by: Us
Purpose: These Cookies are essential to provide You with services available through the Website and to enable You to use some of its features. They help to authenticate users and prevent fraudulent use of user accounts. Without these Cookies, the services that You have asked for cannot be provided, and We only use these Cookies to provide You with those services.
- Cookies Policy / Notice Acceptance Cookies
Type: Persistent Cookies
Administered by: Us
- Functionality Cookies
Type: Persistent Cookies
Administered by: Us
Purpose: These Cookies allow us to remember choices You make when You use the Website, such as remembering your login details or language preference. The purpose of these Cookies is to provide You with a more personal experience and to avoid You having to re-enter your preferences every time You use the Website.
2.2 Use of Your Personal Data
The Company may use Personal Data for the following purposes:
- To provide and maintain our Service, including to monitor the usage of our Service.
- To manage Your Account: to manage Your registration as a user of the Service. The Personal Data You provide can give You access to different functionalities of the Service that are available to You as a registered user.
- For the performance of a contract: the development, compliance and undertaking of the purchase contract for the products, items or services You have purchased or of any other contract with Us through the Service.
- To contact You: To contact You by email, telephone calls, SMS, or other equivalent forms of electronic communication, such as a mobile application’s push notifications regarding updates or informative communications related to the functionalities, products or contracted services, including the security updates, when necessary or reasonable for their implementation.
- To provide You with news, special offers and general information about other goods, services and events which we offer that are similar to those that you have already purchased or enquired about unless You have opted not to receive such information.
- To manage Your requests: To attend and manage Your requests to Us.
We may share your personal information in the following situations:
- With Service Providers: We may share Your personal information with Service Providers to monitor and analyze the use of our Service, to contact You.
- For Business transfers: We may share or transfer Your personal information in connection with, or during negotiations of, any merger, sale of Company assets, financing, or acquisition of all or a portion of our business to another company.
- With Business partners: We may share Your information with Our business partners to offer You certain products, services or promotions.
- With other users: when You share personal information or otherwise interact in the public areas with other users, such information may be viewed by all users and may be publicly distributed outside. If You interact with other users or register through a Third-Party Social Media Service, Your contacts on the Third-Party Social Media Service may see Your name, profile, pictures and description of Your activity. Similarly, other users will be able to view descriptions of Your activity, communicate with You and view Your profile.
2.3 Retention of Your Personal Data
2.4 Transfer of Your Personal Data
2.5 Disclosure of Your Personal Data
Under certain circumstances, the Company may be required to disclose Your Personal Data if required to do so by law or in response to valid requests by public authorities (e.g. a court or a government agency).
Other legal requirements
The Company may disclose Your Personal Data in the good faith belief that such action is necessary to:
- Comply with a legal obligation
- Protect and defend the rights or property of the Company
- Prevent or investigate possible wrongdoing in connection with the Service
- Protect the personal safety of Users of the Service or the public
- Protect against legal liability
2.6 Security of Your Personal Data
The security of Your Personal Data is important to Us, but remember that no method of transmission over the Internet, or method of electronic storage is 100% secure. While We strive to use commercially acceptable means to protect Your Personal Data, We cannot guarantee its absolute security.
The Company cares about the integrity and security of your personal information. However, the Company cannot guarantee that unauthorized third parties will never be able to defeat the Site’s security measures or use any personal information you provide to us for improper purposes. You acknowledge that you provide your personal information at your own risk.
Information on Loan
All Loan Offers by Borrowers will remain open for acceptance by Lenders until either it is withdrawn by the Borrower or a Loan Contract is formed between a Borrower and Co-Lenders, as applicable.
All loans shall be made solely by and between Borrowers and Lenders, and shall be the sole responsibilities of the actual parties thereto, without any participation from the Company, save for the explicit exceptions herein and in the Loan Document.
Any errors with respect to you’re a Borrower’s Account or any calculations with respect to any Loan Offer submitted for a lender’s consideration should be corrected immediately. However, should the Loan Offer be accepted without correction, it is presumed that the error is acceptable the parties agree to be bound by the terms thereof. We reserve the right to remove from the Website any Loan Offer which are the subject of any error prior to its acceptance.
A Loan Offer will only be valid and open for acceptance if it is made in accordance with our Terms & Conditions.
Any Loan Application we suspect that may be in breach of these Terms & Conditions may, at our absolute discretion, be withdrawn. We reserve the right in these circumstances to require Borrowers to repay any outstanding Loans immediately.
You are responsible for the information that you provide to us concerning each Loan Application that you make, whether as a Borrower or Lender. Subject to the checks described in the Borrowing Process and sections of these Terms and Conditions, we will not inquire into the reasonableness of any Loan Offer that is accepted by the parties thereto. We will not be liable for incorrect entries made by you on the Site, including data input errors with respect to the details of any Loan Offer.
You appoint the Company as your agent: (i) for the communication of any Loan Acceptance, whether as Borrower or Lender; (ii) for receipt of communications of acceptance of any Loan Applications; (iii) to be the collection agent for any Lender/s for outstanding loans; and (iv) to execute on your behalf any agreements or deeds in relation to matched and accepted Loan Offers including, without limitation, the Loan Contract.
3. Service Fees
3.1 In consideration for operating and providing members with access to the Site, the Company will be paid a commission and may levy other payments from time to time (Fees), and these shall be detailed in the Pricing page here.
3.2 Any Fees owed to us will be rounded to the nearest two decimal places.
4. You As A Lender
4.1 You agree to the processes for becoming a Lender as fully described here.
4.2 You understand and agree that you may fund only 10% or less of any particular loan to a Borrower.
4.3 When assessing an application for a Loan, the Credit Score provided by the Site is only a guide that is calculated sole from information provided for by the Borrower, and that the Company provides absolutely no warranty and/or guaranty on the accuracy of the information used to generate the Credit Score nor does the Company make any guarantees on the performance of the Borrower in servicing the Loan. Moreover, the Credit Score is merely one of the tools in order for you to make an informed decision whether or not a Loan Offer is a sound investment and does not replace the exercise of your own due diligence in your decision to be a Lender at any one time.
4.4 You should only agree to be a Lender if you fully intend to abide by the terms and conditions of the subsequent Loan Document to be generated. Once the offer from you and your other co-lenders have been made and the Loan has been fully funded, the corresponding contract is binding and enforceable by law.
4.5 You agree that, as a Lender, in every loan you participate in, your co-lenders shall remain anonymous to each other, and that only the Borrower shall know who all of the co-lenders will be, and you further agree that any attempt to find out who your co-lenders are shall be deemed a violation of the Terms and make you liable for damages to the Company.
4.6 You likewise constitute the Company as your sole and exclusive agent for the collection of any outstanding loans on your behalf, to the exclusion of yourself, unless it clearly appears that the Company is unable, or unwilling to take any action on collection within thirty (30) days from the time that the loan, or any of its payments, are due and demandable.
4.7 Any and all taxes arising from the income of your investment as a Lender shall be your sole responsibility and no amounts will be withheld by the Company for this purpose.
5. You As A Borrower
5.1 You agree to the processes for becoming a Borrower as fully described here .
5.2 You understand and agree that any loan you apply for shall be funded by one or more Lenders.
5.3 When assessing your application for a Loan, the Credit Score provided by the Site as described above shall be taken from information that you provide, and, in this connection, is only a guide that is calculated solely from information provided for by you, and, thus, you are providing “written instructions” in accordance with Republic Act 10173 and you authorize and instruct the Company to obtain, monitor, and compile your credit information in order to provide the Credit Score for your loan application to you and for its publishing on the Site.
5.4 This Credit Score is for informational purposes only, and is intended to provide helpful and informative material on the subjects addressed. The Company does not provide legal or accounting advice and any information you obtain through this Service should not be perceived as such. The Company does not control your credit score, which is a statistical analysis of information contained in your file, and we cannot change that information for you even upon your request.
5.5 You agree that the Credit Score is provided for informational purposes only and is intended to provide helpful information concerning the subjects that it addresses. You agree that by processing your request for the Credit Rating as provided herein, the Company and its affiliates are not acting as a credit reporting agency or a credit repair organization and are not offering to sell, provide or perform any service to you for the express or implied purpose of either improving your credit record, credit history or credit rating or providing advice or assistance to you with regard to improving your credit record, credit history or credit rating.
5.6 The Company does not and will not make loans or credit decisions based on the information delivered to you through this Service. Since everyone’s financial circumstances are different and can change daily, rates and terms offered by the Company will be determined by obtaining a new Credit Score at the time of application. In addition, currently held rates and terms cannot and will not be adjusted based on information displayed within this Service.
5.7 In the course of generating and managing your Loan Contracts, and operating Your Account and the Site, we may also send to lenders and their assignee, or to borrowers, as the case may be, certain transactional data (for example, Site Identification Number, name, loan amount and repayment details) but not your personal address or payment details.
5.8 We may at any time, without notice to 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 or which we believe to be under your control, against any funds held in another Account in your name or which we believe to be under your control.
5.9. Notwithstanding anything or any agreement to the contrary, in furtherance of Clause 11.3. and for verification purposes, by accepting these terms and conditions you hereby signify your written and unconditional consent to, as defined under the provisions of R.A. 10173, and thus authorize your employer or any of its representatives, assigns, heirs or other employees to disclose any information about you, your employment and status, such as but not limited to your personal information, your salary, compensation details, employment status, tenure and other matters relative to your use of FundKo’s service, as well as your continued use of this website.
5.10. You likewise agree that your continuous use of this website and the services offered by FundKo shall be considered as your continuous and unconditional consent to any and all the disclosure of information, personal or otherwise, referred to under these terms and conditions.
6. User Content
6.1. Content Ownership. You retain all ownership rights to content uploaded to Site.
6.2. Content License. By submitting content to Site, you grant the Company a worldwide, non-exclusive, royalty-free, sublicenseable, and transferable license to use, reproduce, distribute, prepare derivative works of, display, and perform the content in connection with the Site and the Company’s (and its successors’ and affiliates’) business, including without limitation for promoting and redistributing part or all of the Site (and derivative works thereof) in any media formats and through any media channels.
6.4. We and other organizations may access and use from other countries the information recorded by credit reference and fraud prevention agencies for the purposes of assessing lending risks and identifying, preventing, detecting or tackling fraud, money laundering and other crime.
6.5. You agree that we may transfer your information abroad to countries whose data protection laws are less strict, and less protective of your rights, than in the Philippines which include but not limited to credit bureaus, credit information service companies.
6.6. By submitting personal information to the Company, you agree that it may be used in all the ways described in these Terms and Conditions. We will not be liable for any use or misuse of your personal data by others, but you agree to inform us promptly of any misuse of your Account or the Site of which you are aware.
6.7. Under the Republic Act 10173, you have a right of reasonable access to certain personal records we hold about you which you can make by contacting us by telephone, by email or in writing. A fee may be payable, but we will not charge you until we have told you how much the fee is and what it is for, and you have told us you still want to proceed.
6.8. We do not disclose your Information to any other members other than as set out in these Terms and Conditions, unless it is necessary to enforce any of your Loan Contracts to obtain repayment. If you receive such information, you agree not to use it, other than in communications with us about your Loan Contracts.
The Site may contain links to third-party websites or resources. You acknowledge and agree that the Company is not responsible or liable for: (i) the availability or accuracy of such websites or resources, or (ii) the content, products, or services on or available from such websites or resources. Links to such websites or resources do not imply any endorsement by the Company of those websites or resources. You acknowledge sole responsibility for and assume all risk arising from your use of any such websites or resources.
8. Third Party Content
Through the Site, you will have the ability to access and/or use content provided by third parties. The Company cannot guarantee that such third party content will be free of material you may find objectionable or otherwise. The Company disclaims any responsibility or liability related to your access or use of any third party content.
9. Copyright Policy
The Company respects the intellectual property rights of others and expects users of the Service to do the same. We will respond to notices of alleged copyright infringement that comply with applicable law and are properly provided to us. If you believe that your Content has been copied in a way that constitutes copyright infringement, please provide our copyright agent with the following information in accordance with the prevailing law on the matter:
- a physical or electronic signature of the copyright owner or a person authorized to act on their behalf,
- identification of the copyrighted work claimed to have been infringed,
- identification of the material that is claimed to be infringing or to be the subject of infringing activity and that is to be removed or access to which is to be disabled, and information reasonably sufficient to permit us to locate the material,
- your contact information, including your address, telephone number, and an email address,
- a statement by you that you have a good faith belief that use of the material in the manner complained of is not authorized by the copyright owner, its agent, or the law, and
- a statement that the information in the notification is accurate, and, under penalty of perjury, that you are authorized to act on behalf of the copyright owner.
The Company name and logo are trademarks of the Company, and may not be copied, imitated or used, in whole or in part, without the prior written permission of the Company. In addition, all page headers, custom graphics, button icons and scripts are service marks, trademarks, and trade dress of the Company, and may not be copied, imitated, or used, in whole or in part, without prior written permission from the Company.
Some users may promote competitions, promotions, prize draws and other similar opportunities on the Site (“Third Party Competitions”). The Company is not the sponsor or promoter of these Third Party Competitions and does not bear any responsibility or liability for the actions or inactions of any third parties who organize, administer or are otherwise involved in any of promotion of these Third Party Competitions. If you wish to participate in any of these Third Party Competitions, you are responsible for reading and ensuring that you understand the applicable rules and any eligibility requirements and are lawfully able to participate in such Third Party Competitions in your country of residence. If you wish to run your own Third Party Competition on the Platform, you are free to do so provided you comply with our Competition Terms.
12.1. Termination upon Notice. Either party may terminate this agreement at any time by notifying the other party.
12.2. Termination by the Company. The Company may terminate or suspend your access to or ability to use the Site immediately, without prior notice or liability, for any reason or no reason, including breach of this agreement. In particular, the Company may immediately terminate or suspend accounts that have been flagged for repeat copyright infringement.
12.3. Effect of Termination. Upon termination of your access to or ability to use the Site, your right to use or access the Site will immediately cease.
12.4. Survival of Provisions. This agreement’s provisions that by their nature should survive termination shall survive termination, including, without limitation, ownership provisions, warranty disclaimers, and limitations of liability. Termination of your access to and use of the Site shall not relieve you of any obligations arising or accruing prior to termination or limit any liability that you otherwise may have to the Company or any third party.
The Site is provided “as is,” without any warranties of any kind to the fullest extent permissible under applicable law, the Company disclaims all such warranties, express or implied, including, but not limited to, warranties of merchantability, fitness for a particular purpose, non-infringement, accuracy, freedom from errors, suitability of content, or availability.
To the fullest extent permitted by applicable law in no event shall the Company be liable for:
- any direct, special, indirect or consequential damages, or
- any other damages of any kind, including but not limited to loss of use, loss of profits or loss of data, whether in an action in contract, tort (including but not limited to negligence) or otherwise, arising out of or in any way connected with the use of or inability to use the Site, including without limitation any damages caused by or resulting from reliance by user on any information obtained from Site, or that result from mistakes, omissions, interruptions, deletion of files or email, errors, defects, viruses, delays in operation or transmission or any failure of performance.
- You shall be liable to us for any loss or damage suffered by us as a result of any breach of these Terms and Conditions or any Loan Contract by you, or any fraudulent use of the Site or your data.
- We shall not be liable to you for any loss or damage which you may suffer as a result of being a member of the Site, except where such loss or damage arises from our breach of these Terms and Conditions or was caused by gross negligence, willful default or fraud by us or our employees. We are not responsible for any breach of these Terms and Conditions arising from circumstances outside our reasonable control.
- We may at any time, without notice to you, set off any liability owed to us or to our members by you.
You agree to defend, indemnify and hold harmless the Company, its subsidiaries and affiliated companies, and their officers, directors, employees, contractors and agents from and against any and all claims, causes of action, damages, obligations, losses, liabilities, costs or debt, and expenses (including attorneys’ fees and costs) and all amounts paid in settlement arising from or relating to use of the Site. The Company may assume the exclusive defense and control of any matter for which users have agreed to indemnify the Company and you agrees to assist and cooperate with the Company in the defense or settlement of any such matters.
16.1. In the event that any provision of these Terms and Conditions is deemed by any competent authority to be unenforceable or invalid, the relevant provision shall be modified to allow it to be enforced in line with the intention of the original text to the fullest extent permitted by applicable law. The validity and enforceability of the remaining provisions of these Terms and Conditions shall not be affected.
16.2. You agree that all documents or notices that we wish to send you or are entitled to send you electronically may be delivered to you via the Site to your Account. You may also receive by e-mail to your e-mail address specified in your Account from time to time a prompt to refer to your Account.
16.3. Subject to applicable law, all disclaimers, indemnities and exclusions in these Terms and Conditions shall survive termination of the agreement between us for any reason.
16.4. We may, in whole or in part, release, compound, compromise, waive or postpone any liability owed to us or right granted to us in these terms and conditions without in any way prejudicing or affecting our rights in respect of that or any other liability or right not so released, compounded, compromised, waived or postponed.
16.5. No single or partial exercise, or failure or delay in exercising any right, power or remedy by us shall constitute a waiver by us of, or impair or preclude any further exercise of, that or any right, power or remedy arising under these terms and conditions or otherwise.
16.6. Unless expressly agreed in writing otherwise, these Terms and Conditions set out the entire agreement between you and us with respect to your use of the Site and supersede any and all representations, communications and prior agreements (written or oral) made by you or us.
16.7. The Company may exercise any of its rights under these terms and conditions by itself or through any company or other legal entity which is under the control or ownership of the Company.
16.8. These Terms and Conditions are governed by and construed in accordance with Philippine law. In the event of any matter or dispute arising out of or in connection with these Terms and Conditions, you and we shall submit to the exclusive jurisdiction of the courts of Mandaluyong.
17. Links to Other Websites
We have no control over and assume no responsibility for the content, privacy policies or practices of any third party sites or services.
19. Contact Us
3rd Floor Guevent Building,
#52 D.M. Guevara St. corner Calbayog St.,
Mandaluyong City, Philippines
Monday to Friday
8:00am to 5:00pm