TERMS AND CONDITIONS FOR BORROWERS

April 12, 2019

Please read these Terms and Conditions (“Terms”, “Terms and Conditions”) carefully before using blend.ph (“us, “we”, “our”, “platform”).

By becoming a borrower of blend.ph, you must accept and comply with these Terms and Conditions, in addition to our privacy policy. If you disagree in any part of these Terms, you may stop using the platform.

Under this Loan Contract, you agree to receive or repay one or more installment loans from us, through the Platform (blend.ph).

These terms affect your rights and you should read them carefully and print a copy for your records. Your agreement to these terms means you agree to borrow and repay the money if your loan is funded under the terms of this Loan Contract, agree to transact with us electronically, and agree to have any dispute with us resolved by binding arbitration.

1. ACCEPTANCE OF TERMS OF SERVICE
2. This is an agreement between you (“You” or “you”), a user of this Site and Inclusive Financial Technology, Inc. (“Company”), the owner and operator of blend.ph (“Site”)
3. By becoming a borrower of blend.ph, you acknowledge, accept, agree with, and comply with these Terms and Conditions, in addition to our privacy policy. By using our site, you agree to the terms and conditions stated herewith.
4. MEMBERSHIP REQUIREMENTS
5. If you are an Individual Borrower, you must:
6. be at least 21 years of age;
7. be a resident of the Philippines; foreigners must submit legal documents as proof of residency in the Philippines
8. have a valid social security number and Tax Identification Number (TIN);
9. have a checking account
10. be employed or own a business;

5.1. If employed, you are able to authorize payroll deductions through your employer or your bank;

5.2. If employed, your payroll is not currently subject to assignment, wage deduction order, or garnishment;

6. meet minimum credit and fraud risk criteria, which will be obtained from our partner credit bureau and our internal credit evaluators.

1. If you are a Corporate Borrower, you must:
2. be a domestic corporation, with a valid operating address in the Philippines;
3. be a stock corporation, public bodies, charities, or trusts;
4. have the majority of the directors or partners of your business be permanent residents in the Philippines;
5. have your place of operation be in the Philippines;
6. have your business, directors, members, partners, or proprietors meet minimum credit and fraud risk criteria, which will be obtained from our partner credit bureau or credit reference agencies;
7. not have a pending case in court, or any legal action filed against your corporation; and
8. not be a defendant in a civil action.

III. LOAN TERMS

1. Your loan will have a principal balance in the specific amount and on the terms set forth in the disclosures provided to you through your online blend.ph account.
2. You agree and acknowledge that the initial loan disclosures made to you are estimates.
3. Loans may be secured or unsecured, fully-amortizing and are closed-end loans with 6 to 36 months term.
4. A borrower may apply for a loan amount based on the loan product he/she intends to avail:
   blend.ph loans ranges from a minimum amount of Php 10,000 and a maximum of Php 2,000,000 for borrowers.
5. The secured loan requires Real Estate Mortgage collateral and allows a minimum amount of 1 Million pesos.
6. Annual add-on interest rates are applied to each loan application based on underwriting process results.
7. Should you apply for a loan on the Platform as a Borrower, your loan application will undergo the necessary underwriting and approval process, prior to posting it in the auction.
8. Lenders (“Lenders”, “Investors”) will be able to review all loan applications. Lenders may commit funds to lend, in various amounts that correspond to all or a portion of your loan request.
9. blend.ph serves as a lending platform, thus only facilitates, enables, and supervises the lending process, and does not bid or fund any loan application.
10. INFORMATION VALIDATION AND CREDIT VERIFICATION
11. We reserve the right to verify any information you submit, by requiring you to produce appropriate documentation or other proof we deem necessary.
12. We also reserve the right to conduct verification through third-party credit bureau.
13. You hereby authorize us to request and obtain data from a third party to verify any information you provide to us in connection with your loan request.
14. We may terminate consideration of your application at any time in our sole discretion.
15. BORROWER REGISTRATION AND LOAN APPLICATION PROCESS
16. You acknowledge and confirm that, when you apply to borrow money through blend.ph, you will be borrowing money through blend.ph from a Lender through peer-to-peer lending and you are not borrowing money to either blend.ph or any member of blend.ph.

1. Borrower Registration
2. Registration is done through the Platform and clicking “Register as” “Borrower”.
3. You must completely fill-out the application form on our Site by providing factual information.
4. You must provide an active email address.
5. You must verify the email address provided.
6. You must provide an active, local mobile number.
7. You must verify the mobile number through a One Time Pin (OTP) which will be sent to the registered mobile number by the system.
8. Once your mobile number has been verified, you may continue the application process.
9. You can then access your Borrower Dashboard (“dashboard”), wherein the information about your account is indicated.

1. Loan Application Process
2. You must provide the basic loan terms that you are applying for.
3. You must provide factual answers to credit-related questions.
4. You must upload photos and other accepted formats of documentary requirements.
5. Your loan application will only be processed once you have provided all the required information and documents.
6. You must allow at most three (3) working days for loan application validation, verification, and underwriting process.

1. Loan Application Approval and Credit Checking
2. ph will verify your loan application.
3. You must constantly adhere to the inquiries and requests of our underwriting team to allow the process of validation and verification. This will be done through actively responding to all communications from our underwriters.
4. Once the application has been verified and approved, a notification will be sent to the Borrower Dashboard and your e-mail address, and you will be asked to approve details updated by ph.

1. Loan Application Rejection
2. ph reserves the right to reject loan applications on our sole discretion.
3. In the event that your loan application is rejected, you will be notified through the email and mobile number you have provided.
4. In the event that your loan application is rejected, you may re-apply after 3 months.

1. Auction
2. Your loan application will be posted for auction for a minimum of fourteen (14) days.
3. You may check the status of your loan application and monitor lender bids in your ph account anytime.
4. Once your loan is fully funded, and you are satisfied with the interest rate offered by the lender/s, you must accept the funding even before the fourteen days auction is over.
5. A notification will be sent to your Dashboard to accept a loan contract. You must accept before we can process the disbursement.

1. Disbursement of Loan Proceeds
2. After accepting the loan contract, you may check your ph account balance to see if the amount you loaned is already in your blend.ph wallet.
3. To get the loan amount, click the “Claim” button from your dashboard. The amount you claim will be deducted from your ph wallet and will then be processed for disbursement.
4. Instructions on how to claim the loan amount and compliance with Know-Your-Client regulations will be sent to you via your e-mail address or mobile phone number.
5. Know-Your-Client and Disbursement process is done on the same day and must be conducted in person with our representative in compliance with Banko Sentral ng Pilipinas (BSP) regulations.

1. Repayments
2. The amount of the monthly or other scheduled repayments payable to Lenders in respect of the loans will be set out in the Loan Contract.
3. A detailed payment schedule will be provided to you following the Loan Contract is in force (and such information is also available through your account on the platform).
4. We will collect the repayment amounts each month or as otherwise set out in the Loan Contract via Post Dated Checks you provided.
5. We will collect the repayment amount due, at most 5 days before the date specified in the Loan Contract to ensure that funds are received and distributed to Lenders.
6. The monthly or other scheduled repayments payable due you to each Lenders may be viewed on your ph Account Dashboard.
7. You may repay an entire loan early at any time, provided you pay the principal amount outstanding, together with the interest due until the end of the month in which the loan is so repaid. A pre-termination fee equivalent to 1-month interest shall be charged accordingly upon termination.
8. In certain circumstances, ph may (but is not obliged to) enforce certain terms of each Loan Contract on behalf of the Lenders bound to it. In doing so, blend.ph is authorized to act as an agent on behalf of the relevant Lenders (in accordance with its agreed terms and conditions with the Lenders) in taking such action. In such case, you are liable to pay any attorney’s fees, filing fees, and costs if we have to take any legal action before the appropriate courts to enforce these Terms and Conditions.

1. Payroll deduction or Auto-Debit Arrangement for Individual Borrowers
2. Upon Registration, you are given the option to pay your regular loan payments through payroll deductions or auto-debit arrangement.
3. You will also be provided with the Irrevocable Authorization and Direction Form (for employer) and Authority to Deduct Form (for bank) with respect to your scheduled payroll deductions. These documents are provided to you before any loan is made, and you must read and agree to the terms before any loan will be made.
4. Upon selection, you shall submit your duly signed Irrevocable Authorization and Direction Form or Authority to Deduct Form to blend.ph, subject to the approval of your employer or bank.
5. While your employer or bank facilitates repayment through convenient payroll deductions, you are ultimately responsible for repaying your loan after you have severed your employment.
6. If for any reason, any two (2) consecutive payments are not made in full, then the payroll deductions will stop. We will then initiate actions provided under the Default section of these Terms and Conditions.
7. You can avoid default by notifying blend.ph and creating special repayment method.
8. Auto-Debit Arrangement for Corporate Borrowers
9. Upon registration, you are given the option to pay your regular loan payments through auto-debit arrangement with your bank.
10. You will also be provided an Authority to Deduct Form with respect to your scheduled automatic deductions. This document is provided to you before any loan is made, and you must read and agree to the terms before any loan will be made.
11. You shall submit your duly signed Authority to Deduct Form to blend.ph, subject to the approval of your bank.
12. While your bank facilitates repayment through convenient auto-debit service, you are ultimately responsible for repaying your loan.
13. If for any reason, any two (2) consecutive payments are not made in full, then the deductions will stop. We will then initiate actions provided under the Default section of these Terms and Conditions.
14. You can avoid default by notifying blend.ph and creating special repayment method.
15. Default
16. In the event that your PDC was not honored by our depository banks, we shall inform you accordingly on the notice of dishonor.
17. If you miss a payment or only partially pay the amount due, we (ourselves or through an agent acting on our behalf) will contact you and ask you why you have missed a repayment, and we will attempt to collect the payment.
18. We reserve the right to contact you by any method necessary including, but not limited to, by letter, email, phone call, SMS or by sending private messages to your affiliated social media accounts.
19. If our re-attempt to collect the funds fails two (2) days after the payment was due, your account will be treated as an overdue account, and we will continue to attempt to collect the funds. We may refer the missed payment to a debt collections agency (“Collections Agency”), who will attempt to collect the money on the Investors’ behalf.
20. If payment still has not been made seven (7) days from the date payment was due, ph shall charge you administration fees up to 1.25% per month of the missed payment amount (Principal + Interest), which would be in addition to the loan sums due. We may also charge other fees to cover our tracing charges, field agents’ costs, litigation costs, expenses, and other such fees and in-house collections charges (if the loan is defaulted or becomes 3 months in arrears) incurred by blend.ph in the course of protecting the interests of the Investors.
21. Save exceptional circumstances (such circumstances being deemed exceptional by ph in its absolute discretion from time to time), if you miss, fail to pay or only partially pay three (3) or more consecutive monthly instalments, or if you otherwise fail to comply with any term or condition of the Loan Conditions, the loan will be placed into default and we will issue you with a default notice and termination notice and will pursue you for the total loan amount outstanding, including corresponding penalty charges accrued while being in default. We will give you 17 days’ notice before filing a default on your credit reference file with the credit bureau. Please see our privacy policy for more details on how we disclose information about you.
22. If we and/or the Collections Agency is still unable to collect the debt, Investors will assign their loan interests to TITLE SECURE (“Security Holder”) to hold as legal owner on trust for the Investors. ph (as “Security Agent”, acting on behalf of the Security Holder) may take such steps as it considers necessary or desirable to recover the amount owed from you and/or the relevant guarantors, including without limitation to sell the assigned debt to a debt purchaser, instruct third parties to assist with the recovery process, and/or commence formal legal or insolvency action. If such further action is necessary, a collections charge will be added to your debt in addition to any third-party costs (including but not limited to any external legal fees). Such costs and charges will be passed on to you as the defaulting borrower (and are payable immediately). In respect of loans completed on or after 28 September 2015, Investors may not opt-out of assigning their loan parts or whole loans to TITLE SECURE. In respect of loans entered into before this date, Investors are able to opt-out of the transfer of their loan parts or whole loans to TITLE SECURE but if they do so, they undertake to blend.ph and the borrower (amongst others) in the Terms and Conditions for Investors to act at all times in a fair, transparent and proportionate manner having due regard to the borrower and/or guarantor, and in compliance with all relevant laws, regulations and best practice guidance. For the avoidance of doubt, blend.ph has no liability to you whatsoever for the conduct of Investors in any capacity and is not obliged under any circumstances to enforce the Investor undertaking referred to above.
23. It is hereby agreed that time is of the essence with regard to payment of each monthly repayment. Accordingly, ph shall, upon default the loan, demand immediate payment of the full amount of the loan (with all outstanding accrued interest) plus costs and the collections charges if any repayment is missed or only partially repaid (and such missed repayment is not remedied within 10 business days), or if you (or any guarantor of the loan) enters or is deemed to be likely to enter any formal or informal insolvency process.

1. L. Miscellaneous
2. When the loan has been fully paid, Borrower may re-apply for a new loan.
3. BY COMPLETING YOUR APPLICATION AND SUBMITTING YOUR LOAN REQUEST, YOU ARE COMMITTING TO OBTAIN A LOAN THROUGH US IN THE AMOUNT AND ON THE TERMS SET FORTH IN YOUR LOAN CONTRACTS THROUGH US AND THE DISCLOSURES PROVIDED TO YOU IN CONNECTION WITH YOUR REQUEST, SHOULD YOUR LOAN APPLICATION BE FUNDED. YOU HAVE NO RIGHT TO RESCIND THE LOAN ONCE MADE BUT YOU MAY PREPAY THE LOAN AT ANY TIME.
4. We will not lend you any funds unless and until sufficient commitments are received from Lenders.

1. Fees
2. blend.ph charges a processing fee of:
3. Two Thousand Five Hundred ( PhP 2,500.00) for individual personal loan applications;
4. Four Thousand Five Hundred ( PhP 4,500.00) for corporate loan applications.
5. Ten Thousand upfront fee for the secured loan which includes; Appraisal Fee (Php 3,500.00), and Processing Fee (Php 5,000.00).
6. Additional fee for Registration & Annotation of Mortgage (Php 6,500.00) once the loan is funded.
7. The processing fee for Personal and Corporate loans are included in the total charge for credit in the Key Contract Terms and is deducted from the amount borrowed before it is transferred to you. You will receive the amount borrowed less the processing fee.
8. You are liable for any attorney’s fees, filing fees, and costs if we have to take any legal action before the appropriate courts to enforce these Terms and Conditions.

VII. Terminating your membership in blend.ph

1. If you no longer want to be a borrower of blend.ph, provided that you have no Loan Contracts in force, you can let us know and we will terminate your blend.ph account.

You may withdraw your consent to receive Communications electronically by contacting us. However, you acknowledge that we may continue to deliver Communications electronically to you after you withdraw consent that are either 1) relevant to our concluding any transactions that occurred while you were a User, or 2) required by law. Because we operate as an online lending platform, if you withdraw consent while you gave a pending loan application, we reserve the right to terminate that application. The withdrawal of your consent will not be affecting the legal validity and enforceability of any business transacted between us prior to the time you withdraw your consent, including this Terms and Conditions or any agreements. Any other further Communications after you withdraw consent, including Communications related to any pending loan applications, will be sent by mail to the address provided or by other non-electronic means. We may discontinue providing electronic Communications at any time at our sole discretion.

1. We may terminate your account in blend.ph at any time if:
2. You breach these Terms and Conditions;
3. You breach any term or condition of the Loan Contract, or other documents arising from or on connection with you receiving a loan through our platform;
4. You have committed fraud, or have been involved in money laundering or other criminal activities;
5. You use any information accessible on or obtained from the platform for the purpose of canvassing or soliciting any person or enticing any person away from ph;
6. You use the platform in any of the following ways:
7. in any way that causes, or is likely to cause, the platform or access to it to be interrupted or damaged in any way;
8. for fraudulent purposes, or in connection with a criminal offense;
9. to send, use or reuse any material that is illegal, offensive, abusive, indecent, defamatory, obscene or menacing; or in breach of copyright, trademark, confidence, privacy or any other right; or is otherwise injurious to third parties; or objectionable; or which consists of or contains software viruses, political campaigning, commercial solicitation, chain letters, mass mailings or any spam; or to cause annoyance, inconvenience or needless anxiety.
10. You have provided information that we subsequently found to be materially incorrect, inaccurate, or false.
11. Termination of your membership of blend.ph will not necessarily result in a termination of any Loan Contract to which you are a party at that time.
12. Upon termination, and once all sums actually or potentially due from you to Lenders & us have been repaid, we will credit your bank with any funds left in your blend.ph borrower account or send a cheque to the address last provided by you.

VIII. BORROWER’S AGREEMENTS WITH blend.ph

1. Membership with blend.ph does not in any way constitute an obligation on us to procure funding for borrowers or constitute a warranty or other assurance by us that funding will be available.
2. If any personal guarantee is provided of the borrower’s obligations, the borrower, directors, shareholders and/or members represent and warrant that there has been no undue influence or inducement of the guarantor.
3. If you are a borrower, you cannot be a Lender while you have loans in force. An exception would be where you are lending in your own individual capacity, but you happen to be a director or owner of a business borrowing money.
4. GENERAL TERMS
5. blend.ph’s principal roles are:
6. To perform introductory functions on behalf of borrowers and lenders in order to bring together prospective borrowers and lenders;
   2. To provide a stream-lined process for entering into loans (including the development of standard form loan agreements); and
   3. To facilitate the payment and collection of sums due under or in connection with those loans (including certain limited actions upon a borrower’s default as set out in these terms and conditions).
7. While blend.ph adds value to the credit analysis as part of our loan application review and credit assessment processes, the provision of a risk tag classification is intended to be informative only. A lender must form its own opinion regarding the creditworthiness of a borrower, and undertake its own research, analysis and assessment of each borrower for each loan and, where appropriate, seek its own independent financial advice.
8. Save in certain circumstances, blend.ph does not edit the information submitted or uploaded by borrowers, which it then makes available to prospective investors via the platform and, therefore, we cannot guarantee its accuracy. Accordingly, we accept no responsibility or liability for the accuracy of the information provided by borrowers to prospective investors, or the risk tag classifications. blend.ph may from time to time, but accepts no obligation to, update or amend borrowers’ information or the risk tag classification (including between when the loan request is first made and when it is entered, and during the term of any loan). You agree that you shall inform us if any information we publish about you is untrue, inaccurate or misleading in any material respect.
9. A Loan Contract is only formed when the loan request is at least Php 35,000 & above and 80% funded, and the auction is closed (“Auction Close Date”). But, if a loan request is fully funded, the Loan Contract with the relevant offering Investor(s) for the loan (and each of its respective loan parts) shall automatically come into effect and shall be legally enforceable on and from the Auction Close Date.
10. If the loan is not fully funded within the relevant auction period, or if we have exercised our discretion to de-list a loan, then your loan request will be canceled, and any funds bid will be released back to Lenders. If the loan is fully funded, the money will then be transferred from each of the relevant blend.ph Lender accounts by us to your blend.ph borrower account. Interest shall start to accrue on and from the Disbursement Date. You will be sent details of the repayment schedule (15^thor 30^th of the month) by email, and you will also be able to view this in your account dashboard.
    F. Each loan will be effective for the period specified on the Loan Contract.
11. In all Loan Contracts and loan transfer documentation, we will quote a Lender’s address as being “c/o blend.ph”, and state blend.ph’s postal address. Each Borrower agrees that all notices and communications to be given to a Lender will be sent to blend.ph on that Lender’s behalf and that this is sufficient to identify the Lenders for the purposes of the Loan Contracts.
12. The information provided on the platform is directed solely at and is for use solely by persons and organizations that meet the criteria set out in clause II above, and the equivalent criteria set out in the Terms and Conditions for Lenders. This platform is not intended for distribution to, or use by, any person or entity in any jurisdiction where such distribution or use would be contrary to applicable law or regulation.
13. Platform content must not be copied or reproduced, modified, redistributed, used or otherwise dealt with for any other reason outside of required use without our expressed written consent.
14. blend.ph is not responsible for content downloaded or posted by Lenders or borrowers on the platform for we do not edit content downloaded or posted on the platform.
15. blend.ph will ensure that the platform is available for you to use at any time. However, this is something we are not able to guarantee, and there may be times when the platform is not available. We will do our best to notify you via our website when we know this service will be unavailable. You can contact us when the platform is not available by emailing support@blend.ph.
16. You agree to use the platform only for lawful purposes, and in a way, which does not infringe the rights of anyone else, or restrict or inhibit anyone else’s use and purpose of the platform.
17. You agree not to use the blend.ph platform or any information accessible on or obtained from it for the purpose of canvassing or soliciting any person or enticing any person away from blend.ph.
18. You warrant that you have taken all reasonable precautions to ensure that any data you upload or otherwise submit to the platform is free from viruses, and anything else which may have a contaminating or destructive effect on any part of the platform or any other technology. We reserve the right to delete any file found by our system to be harmful.
19. The content and material available on the platform are for informational purposes only and should not be regarded as an offer, solicitation, invitation, advice or recommendation to buy or sell investments, securities or any other financial services or banking product. If you are unsure about whether a product is suitable for you, you should contact an independent financial adviser.
20. You are responsible for all costs you incur in accessing the platform.
21. blend.ph accepts no responsibility or liability for your use of content on the platform and such use is entirely at your own risk. While we take reasonable precautions to prevent the existence of computer viruses or other malicious programs on the platform, we accept no liability for them if they do exist. It is your responsibility to use, update and maintain appropriate antivirus software on your computer.
22. blend.ph take reasonable precautions to ensure that our systems are secure. However, information transmitted via the platform will pass over public telecommunications networks. We accept no liability if communications sent via the platform are intercepted by third parties or incorrectly delivered or not delivered.
23. The platform may contain links to third party websites. blend.ph accept no responsibility or liability for any material supplied by or contained on any third-party website which is linked from or to the platform, or any use of personal data by such third party.
24. OTHER IMPORTANT TERMS
25. If any of these Terms and Conditions is found to be illegal, invalid or unenforceable by any court of competent jurisdiction, the remainder shall continue in full force and effect.
26. All disclaimers, indemnities, and exclusions in these Terms and Conditions shall survive termination of the agreement between us for any reason.
27. blend.ph may, in whole or in part, release, compound, compromise, waive or postpone, in our absolute discretion, 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. 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.
28. Please ensure that you read these Terms and Conditions and the Loan Contracts carefully, as these will bind you and govern your relationship with us and Lenders. If you are uncertain as to your rights and obligations under them or would like and explanation, please get in touch with us.
29. blend.ph may assign, transfer, novate or otherwise 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 blend.ph.
30. blend.ph may update or amend these terms and conditions from time to time to comply with the law, or to meet our changing business requirements. We may not always be able to give you advanced notice of such updates or amendments but we will always post them on the platform. In such circumstances, by continuing to use the platform, you agree to be bound by the amended Terms and Conditions.
31. These Terms and Conditions were last updated on April 12, 2019.
32. These Terms and Conditions are governed by Philippine law. In the event of any matter or dispute arising out of or in connection with these terms, we shall submit to the courts of Pasig City, to the exclusion of all others.
33. Complaints
34. In the event that you have a complaint, the Company will make every effort to rectify the problem as soon as practicably possible.
35. Please write to us making clear the details surrounding your complaint. You can send your complaint by e-mail, SMS, or through our Facebook Page Messenger.
36. We will endeavor to respond to you to acknowledge your complaint within two Business Days of receiving it. We will endeavor to provide a response to your complaint within ten Business Days of receiving it.
37. If having received our response, you are still dissatisfied, you can escalate your complaint to our Chief Executive Officer who will investigate the complaint personally and provide a final response to you within ten Business Days.

XII. About us

1. blend.ph is a wholly owned brand of Inclusive Financial Technology, Inc., a company duly registered under the laws of the Republic of the Philippines, whose registered number is CS 201619422, and whose registered office and principal place of business is at Penthouse, OMM-Citra Building, San Miguel Avenue, Ortigas Center, Pasig City, 1605, Philippines.
2. If you have any questions about these Terms and Conditions or wish to contact us for any reason whatsoever, please contact us through support@blend.ph.
3. If you wish to make a formal complaint, you may do so in person, in writing by post, email, or by telephone.

Terms and Conditions for LENDERS / INVESTORS
April 12, 2019

Please read these Terms and Conditions (“Terms,” “Terms and Conditions”) carefully before using blend.ph (“us,” “we,” “our,” “platform”).

By becoming an investor of blend.ph, you must accept and comply with these Terms and Conditions, in addition to our privacy policy. If you disagree with any part of these Terms, you may stop using the platform.

These Terms and Conditions affect your rights and you should read them carefully and print a copy for your records. Your agreement to these terms means you agree to part with and invest your money in order to facilitate and establish Loan Contracts with prospective borrowers through the use of this platform.

1. ACCEPTANCE OF TERMS OF SERVICE
2. These Terms and Conditions constitute a legally binding agreement made between you, whether personally or on behalf of an entity (“user” or “you”), a user of this Site, and Inclusive Financial Technology, Inc. (“Company”), the owner and operator of blend.ph (the “Site”), concerning your access to and use of the https://blend.ph/ website, as well as any other media form, media channel, or mobile website related, linked or otherwise connected thereto (collectively, the “Site”).
3. By becoming an investor of blend.ph, you acknowledge, accept, agree with, and agree to comply with these Terms and Conditions, in addition to our privacy policy. By using our site, you agree to the terms and conditions stated herewith.
4. We do not provide any advice, nor do we make any recommendations to our investors. We solely perform, on an “execution-only” basis, the matching of borrowers through the platform to you, as a lender, at your request.
5. You should consider whether our lending services meet your acceptable risk levels and investment objectives and you should only commit such funds for which you are able to financially bear the risk of a loss considering all other financial commitments.
6. By using our services, you confirm that you have the necessary experience and knowledge in order to understand the risks involved in the transaction or are able to take advice from a relevant qualified investment professional or advisor to assist your understanding of the risks involved.
7. Supplemental terms and conditions or documents that may be posted on the Site from time to time are hereby expressly incorporated herein by reference. You agree that by using the Site and/or the Services, you have read, understood and agree to be bound by all of these Terms and Conditions. IF YOU DO NOT AGREE WITH ALL OF THESE TERMS OF USE, THEN YOU ARE EXPRESSLY PROHIBITED FROM USING THE SITE AND SERVICES, AND YOU MUST DISCONTINUE USE IMMEDIATELY.
8. ACCOUNT
9. Creation of Account. You must accomplish the registration process by providing us with complete, current, and accurate information as prompted by the applicable registration form in our Site. You will also be required to have a username and password.
10. As a member of the Site, you make the following and continuing representations, warranties, and undertakings throughout the lifetime of your account:

1.1. You are an individual, sole proprietorship, or the duly authorized representative of a corporation, branch office, or partnership;

1.2. You are at least 21 years of age or over, and capable of taking responsibility for your own actions, and are fully capacitated to enter into legally binding agreements;

1.3. If you are a corporation, branch office, or partnership, you must be registered with the Philippine Securities and Exchange Commission (SEC) and have a permanent place of business in the Philippines, and that the account holder is the duly authorized representative of the entity, capable to contracting or funding loans; and

1.4. If you are a sole proprietorship, you must be duly registered with the Department of Trade and Industry (DTI).

2. The representations and warranties above are continuous and unbroken throughout the lifetime of your account.
3. You hereby authorize the Site without liability whatsoever to suspend your account if, in our opinion, we believe that your account is being subject to misuse. In such case, we will do our best to reach you in the earliest possible time to resolve the issue.
4. You shall not take or permit any action to be taken that may cause such representations and warranties to be untrue or inaccurate.
5. If at any time, any of the above representations and warranties are no longer true or accurate, you shall contact the Site within five (5) days and disclose which representations and warranties are, or may, no longer be true or accurate.
6. You authorize us, at any time, to use any means that we consider necessary for the verification of your identity with any third-party information providers, which include, but not limited to: credit information service companies; or credit bureaus.
7. Personal Information.
8. By registering with us, you are accepting these Terms and Conditions and likewise consent to the Site’s collection, use, disclosure, holding, and protection of your personal information as indicated below:

1.1. Your name, age, address, contact number, date of birth, email address, bank details or any other financial information which may be related to any prospective loan contract;

1.2. Other information that you provide to us that does not identify you personally, such as records of your visits and information that you submit when using the Site;

1.3. Information that may be obtained from third parties; and

1.4. Usage of and access to the Site.

1. Use of Information.
2. By registering in the Site, you hereby accept our Terms and Conditions and Terms of Use and likewise consent to our collection, use, and retention of any information you provided.
3. Collection of Personal Information.
4. By registering in the Site, you authorize us to utilize any form of usable technology to collect personal information, such as, but not limited to general log information, cookies, tracking technologies, and referral information from third-party websites.
5. Information Disclosure.
6. You authorize us to disclose and share your information for the following reasons:

1.1. To our agents and subcontractors, acting for us or for other lenders, for any of the purposes described in these Terms and Conditions, which include, but not limited to credit bureaus, credit information service companies, or special accessing entities;

1.2. to law enforcement agencies and fraud prevention agencies for the purposes of identifying, preventing, detecting or tackling fraud, money laundering, and other crime;

1.3. to meet our obligations to any relevant regulatory authority; and

1.4. if we have to by law or it is for the public interest.

1. Account Responsibility.
2. You are entirely responsible for the maintenance of confidentiality of your account. You are likewise responsible for any and all activities that occur on your account, including, but not limited to, the contracting of obligations on your behalf, which you hereby agree to honor.
3. You hereby agree to notify us immediately of any unauthorized use of your account or any other breach of security.
4. Liability for Misuse of Account.
5. We are not liable for any loss that you may incur as a result of someone else’s use of your password or account, either with or without your knowledge.
6. You could be held liable for losses incurred by yourself, the Company, or another party due to someone else’s use of your account or password.
7. You may not use anyone else’s account at any time, without the permission of the account holder.
8. Account Security.
9. You hereby agree that we cannot guarantee any unauthorized access by third parties. However, to counter any unauthorized access, we implemented in our Site security measures to eliminate, or at the very least minimize any untoward obstruction of privacy. Moreover, you acknowledge that you provide your personal information at your own risk.

III. LENDER QUALIFICATIONS.

1. If you are an Individual Lender, you must:
2. Be at least 21 years of age;
3. Be a resident Filipino citizen currently residing in the Philippines, or foreigner with Certificate of Alien Registration, or an OFW with an existing local bank in the Philippines;
4. Have a valid social security number or Tax Identification Number (TIN); and
5. Be gainfully employed or own a business to facilitate lending;
6. If you are a Corporate Lender, you must:
7. Be a domestic corporation duly-organized under the Philippine laws, with an existing and valid operating address in the Philippines;
8. Be a stock corporation, public body, poor trusts;
9. Have a majority of the directors or partners of your business, permanent residents in the Philippines;
10. Have your center of main interest in the Philippines; and
11. Have your business, its directors, members, partners, or proprietors meet minimum credit and fraud risk criteria, which will be obtained from credit reference agencies.
12. LOAN TERMS
13. The loan will have a principal balance in the specific amount and on the terms set forth in the disclosures provided to the borrower through his/her online blend.ph account. The borrower is informed that the initial loan disclosures made to him are estimates. All loans are unsecured, fully-amortizing, closed-end loans with a minimum of 6 months, up to three (3)-year term.
14. The borrower may post a loan request on the Platform as “Borrower,” and various lenders (“Lenders,” “Investors”) will be able to review the borrower’s loan request. Lenders may commit funds to bid, in various amounts that correspond to all or a portion of the borrower’s loan request. blend.ph may also choose to invest in all or part of the borrower’s loan, but is not obligated to do so.
15. LENDING PROCESS
16. You acknowledge and confirm that, when you offer to lend money through blend.ph platform, you will be offering your money to be lent by blend.ph to a borrower through peer-to-peer lending and you are not lending money to either blend.ph or any member of blend.ph.
17. Lender Registration. Below is the procedural process for you to be registered as a Lender in our Site:
18. In order to lend money using blend.ph, you must register through the platform by clicking “Register as Lender”.
19. The screen will prompt a Lender Registration Form and you must completely fill out the application form on our Site by providing factual information.
20. You must provide an active email address.
21. You must verify the email address provided.
22. You must provide an active, local mobile number.
23. After submitting the Lender Registration Form, verify your account through a One-Time Password (“OTP”) which will be sent to your mobile phone number. Input the OTP on the Platform to validate your mobile phone number.
24. Continue filling out the Lender Profile Application Form with all the necessary details, to wit:

7.1. Amount of investment;

7.2. Investment purpose; and

7.3. Required interest rate.

8. You need to upload at least one (1) primary ID or two (2) Secondary IDs; make sure all IDs are clearly and entirely visible in the photo you are uploading.

Primary IDs:

8.1. Passport;

8.2. Driver’s License;

8.3. NBI Clearance;

8.4. Alien Certification of Registration / Immigrant Certificate of Registration

8.5. Unified Multi-Purpose ID (UMID) / Social Security System (SSS) card

8.6. Professional Regulation Commission (PRC) ID

8.7. PhilHealth ID (Digitized PVC)

8.8. Postal ID (issued 2015 onwards)

Secondary IDs
8.9. Police Clearance

8.10. TIN ID

8.11. Barangay Certification

8.12. Senior Citizen Card

8.13. Overseas Workers Welfare Administration (OWWA) ID

8.14. Voter’s ID

8.15. Company IDs issued by private Entities or Institution registered with or supervised or regulated either by the Bangko Sentral ng Pilipinas (BSP), Security Exchange Commission (SEC), or Insurance Commission (IC).

9. You can then access your Lender Dashboard (“dashboard”), wherein the information about your account is indicated.
10. Lender Registration Approval.
11. Upon the completion of the Lender Registration. You will receive a notification through your e-mail address bearing instructions on how to activate your account.
12. blend.ph will then verify your information and approve your registration within three (3) working days.
13. Once the registration has been verified, a notification will be sent to the registered email address.
14. Another notification will be sent to provide further instructions on how to deposit the desired amount to be used in funding loan applications.
15. After your deposit has been approved and credited, check your account balance. If you have sufficient funds in your blend.ph wallet you can now view loan applications that are ready for bidding.
16. Auction
17. Log in to the Platform using your Investor Account to check your dashboard for any loan applications on auction.
18. Choose which loan application you wish to fund and place your bid. Input the Bidding Amount and Interest Rate.
19. You may fund as many loan applications as you want as long as you have sufficient funds in your blend.ph wallet.
20. Once a borrower accepts your bid, a notification will be sent to your email address and you should be able to see your account activities under the transactions tab on your dashboard.
21. All of your Lending Commitments are visible to you within the “My Account” section of our platform. Importantly, you can also view how much of your Lending Commitment is actually on loan on a real-time basis.
22. Withdrawal and Repayment
23. Repayment of the monthly dues will start one month after the loan contract is in force.
24. Every month, an amount of repayment from the borrower will be added to your blend.ph wallet.
25. You can view your transaction from your Lender Dashboard to monitor which borrower submitted payment.
26. You may withdraw funds from your blend.ph wallet anytime by clicking the “Claim” button on your blend.ph wallet and the funds you wish to take will be transferred to your bank account registered with blend.ph.
27. The minimum withdrawal amount is Php 1,000 for every transaction.
28. You hereby irrevocably appoint the blend.ph as your agent to perform all duties relevant to the Loan Contract for as long as these Terms remain in force and to manage the recovery processes where any Borrower has failed to make payments to you under any Loan Contract or where a Default Event has occurred. As part of this recovery process, you provide us with the requisite authority to sub-contract this process to a third party to act on your behalf.
29. You are not permitted to vary or cancel the terms of any Loan Contract to which you are matched as a Lender.
30. FEES
31. blend.ph charges a corresponding service fee to cover administrative cost in processing the loan transaction that varies depending on the loan product.
32. This transaction fee is included in the total interest charge for the loan you have funded and shall be deducted accordingly from the monthly borrower repayment schedule.
33. An administrative fee of 5% of the deposited amount shall be charged to a lender who request to withdraw their deposit; without pre-existing investment activity on their blend.ph lender account; and did not fund any loan. This administrative fee shall cover the check fee, manpower expense, & bank processing fee.

VII. TERMINATING YOUR MEMBERSHIP IN BLEND.ph

1. Voluntary Termination. If you no longer want to be an Investor of blend.ph, provided that you have no Loan Contracts in force, let us know through a formal letter of such intent and we will end your membership. The letter shall also state your lender ID, email, full name, and date of birth. Once the account has been deleted, retrieval is not possible.
2. Involuntary Termination. We may end your membership in blend.ph at any time if:
3. You breach these Terms and Conditions;
4. You breach any term or condition of the Loan Contract, or other documents arising from or in connection with you receiving a loan through our platform;
5. You have committed fraud, or have been involved in money laundering or other criminal activities;
6. You use any information accessible on or obtained from the platform for the purpose of canvassing or soliciting any person or enticing any person away from blend.ph;
7. You use the platform in any of the following ways:

5.1. In any way that causes, or is likely to cause, the platform or access to it to be interrupted or damaged in any way;

5.2. for fraudulent purposes, or in connection with a criminal offense;

5.3. to send, use or reuse any material that is illegal, offensive, abusive, indecent, defamatory, obscene or menacing; or in breach of copyright, trademark, confidence, privacy or any other right; or is otherwise injurious to third parties; or objectionable; or which consists of or contains software viruses, political campaigning, commercial solicitation, chain letters, mass mailings or any spam; or to cause annoyance, inconvenience or needless anxiety.

6. You have provided information that we subsequently found to be materially incorrect, inaccurate, or false.
7. Termination of your membership of blend.ph will not necessarily result in a termination of any Loan Contract to which you are a party at that time.
8. Upon termination, and once all sums actually or potentially due to you from borrowers have been repaid, we will credit your bank with any funds left in your blend.ph blend.ph Wallet or send a cheque to the address last provided by you.

VIII. INVESTOR’S AGREEMENTS WITH BLEND.ph

1. As an Investor, you agree that:
2. blend.ph is giving no undertaking nor giving any warranty or representation as to:

1.1. the ability of a Borrower to pay; and/or

1.2. a Borrower’s credit risk.

2. blend.ph is in no way liable for the debts of Borrowers;
3. Calculations that we may provide on the platform regarding the likely rate of return on loans are for guidance purposes only and are not guaranteed;
4. Information on the platform does not constitute advice, recommendation, or an endorsement of loan requests or Borrowers and that the information is not intended to be relied upon as a sole basis for deciding whether or not to lend to a particular Borrower;
5. blend.ph is making no representation nor giving any warranty as to the accuracy of the data displayed for loan requests, nor whether the information is up to date or error free;
6. blend.ph does not guarantee that:

6.1. there will be sufficient bids to fully fund loans and allow your funds to be lent out;

6.2. there will be sufficient borrowers for you to lend to; or

6.3. there are sufficient other investors to buy your funded loans should you wish to sell them.

7. blend.ph does not guarantee that loan parts listed for sale will be bought by other investors, or the time it will take to withdraw funds from the platform by selling loan parts; and
8. You are bidding and lending entirely at your own risk:
   8.1. Where blend.ph has implemented any form of personal guarantee in support of a loan on your behalf as an Investor, you accept that the enforceability of such personal guarantee shall be subject to normal legal risks and limitations. We cannot and do not ensure that any individual providing such a guarantee has been independently advised on the impact of such a personal guarantee. Such guarantees can be open to challenge in circumstances where the individual granting the guarantee has been subject to undue pressure or influence from a third party;

8.2. The platform is not intended or designed to be used, nor does blend.ph permit any use of the platform, as a vehicle for generating loan assets (or purchasing interests in loan assets) as part of an investor’s (or a fund manager of an investor’s group) securitization or fund-raising strategy, and shall not be used as such by any investor or an investor of an investor’s group without the prior written consent of blend.ph (such consent may be withheld in blend.ph‘s absolute discretion).

1. GENERAL TERMS
2. blend.ph’s principal roles are:
3. to perform introductory functions on behalf of borrowers and investors in order to bring together prospective borrowers and investors;
4. to provide a streamlined process for entering into loans (including the development of standard form loan agreements); and
5. to facilitate the payment and collection of sums due under or in connection with those loans (including certain limited actions upon a borrower’s default as set out in these Terms and Conditions).
6. While blend.ph adds value to the credit analysis as part of our loan application review and credit assessment processes, the provision of a risk tag classification is intended to be informative only. An Investor must form his own opinion regarding the creditworthiness of a borrower, and undertake his own research, analysis, and assessment of each borrower for each loan and, where appropriate, seek his own independent financial advice.
7. Save in certain specified circumstances, blend.ph does not edit the information submitted or uploaded by borrowers, which it then makes available to prospective investors via the platform and, therefore, we cannot guarantee its accuracy. Accordingly, we accept no responsibility or liability for the accuracy of the information provided by borrowers to prospective investors, or the risk tag classifications. blend.ph may, from time to time, but accepts no obligation to, update or amend borrowers’ information or the risk tag classification (including between when the loan request is first made and when it is entered into, and during the term of any loan). You agree that you shall inform us if any material information we publish about you is untrue, inaccurate or misleading.
8. A Loan Contract is only formed when the loan request is at least Php 35,000 & above and 80% funded ; and the listing is closed (“Listing Close Date”). But, if a loan request is fully funded, the Loan Contract with the relevant offering Investor(s) for the loan (and each of its respective loan parts) shall automatically come into effect and shall be legally enforceable on and from the Listing Close Date.
9. If the loan is (a) not fully funded within the relevant auction period, or (b) if we have exercised our discretion to de-list a loan, then the loan request will be canceled, and any funds bid will be released back to investors. If the loan is fully funded, the money will then be transferred from each of the relevant blend.ph investor accounts to the blend.ph borrower account. Interest shall start to accrue on and from the Listing Close Date.
10. Each loan will be effective for the period specified in the Loan Contract.
11. In all Loan Contracts and loan transfer documentation, we will quote an Investor’s address as being “c/o blend.ph,” and state blend.ph‘s postal address. Each Borrower agrees that all notices and communications to be given to an investor will be sent to blend.ph on that investor’s behalf and that this is sufficient to identify the investors for the purposes of the Loan Contracts. Details of relevant investors are available to you upon request.
12. The information provided on the platform is directed and for use solely by persons and organizations that meet the criteria set out in Part III hereof, and the equivalent criteria set out in the Terms and Conditions for Investors. This platform is not intended for distribution to, or use by, any person or entity in any jurisdiction where such distribution or use would be contrary to applicable law or regulation.
13. We will ensure that the platform is available for you to use at any time. However, this is not something we are able to guarantee, and there may be times when the platform is not available. We will do our best to notify you via our website when we know this service will be unavailable. You can contact us when the platform is not available by emailing support@blend.ph.
14. You agree to use the platform only for lawful purposes, and in a way, which does not infringe the rights of anyone else, or restrict or inhibit anyone else’s use and enjoyment of the platform.
15. You agree not to use the blend.ph platform or any information accessible on or obtained from it for the purpose of canvassing or soliciting any person or enticing any person away from blend.ph.
16. You warrant that you have taken all reasonable precautions to ensure that any data you upload or otherwise submit to the platform is free from viruses, and anything else which may have a contaminating or destructive effect on any part of the platform or any other technology.
17. The content and material available on the platform is for informational purposes only and should not be regarded as an offer, solicitation, invitation, advice or recommendation to buy or sell investments, securities or any other financial services or banking product. If you are unsure about whether a product is suitable for you, you should contact an independent financial adviser.
18. You are responsible for all costs you incur in accessing the platform.
19. We accept no responsibility or liability for your use of content on the platform and such use is entirely at your own risk. While we take reasonable precautions to prevent the existence of computer viruses or other malicious programs on the platform, we accept no liability for them if they do exist. It is your responsibility to use, update and maintain appropriate antivirus software on your computer.
20. We take reasonable precautions to ensure that our systems are secure. However, information transmitted via the platform will pass over public telecommunications networks. We accept no liability if communications sent via the platform are intercepted by third parties or incorrectly delivered or not delivered.
21. The platform may contain links to third party websites. We accept no responsibility or liability for any material supplied by or contained on any third-party website which is linked from or to the platform, or any use of personal data by such third party.
22. OTHER IMPORTANT TERMS
23. If any of these Terms and Conditions is found to be illegal, invalid or unenforceable by any court of competent jurisdiction, the remainder shall continue in full force and effect.
24. All disclaimers, indemnities, and exclusions in these Terms and Conditions shall survive termination of the agreement between us for any reason.
25. We may, in whole or in part, release, compound, compromise, waive or postpone, in our absolute discretion, 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. 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.
26. Please ensure that you read these Terms and Conditions and the Loan Contracts carefully, as these will bind you and govern your relationship with us and the borrowers. If you are uncertain as to your rights and obligations under them or would like an explanation, please get in touch with us.
27. blend.ph may assign, transfer, novate or otherwise 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 blend.ph.
28. These Terms and Conditions were last updated on April 12, 2019.
29. These Terms and Conditions are governed by Philippine laws. In the event of any matter or dispute arising out of or in connection with these terms, we shall submit to the courts of Pasig City, to the exclusion of all others.
30. COMPLAINTS
31. In the event that you have a complaint, the Company will make every effort to rectify the problem as soon as practicably possible.
32. Please write to us making clear the details surrounding your complaint. You can send your complaint by e-mail, or through our Facebook Messenger Page.
33. We will endeavor to respond to you to acknowledge your complaint within two (2) business days of receiving it. We will likewise endeavor to provide a response to your complaint within ten (10) business days from receipt of the complaint.
34. If you are dissatisfied with our response, you may elevate your complaint to the Company’s Chief Executive Officer who will personally investigate your complaint and provide a definitive response to you within ten (10) business days.

XII. ABOUT US

1. blend.ph is a wholly owned brand of Inclusive Financial Technology, Inc, a company duly registered under the laws of the Republic of the Philippines, the whose registered number is CS 201619422, and whose registered office and principal place of business is at Penthouse OMM-CITRA, San Miguel Ave, Ortigas Center, Pasig City, Philippines.
2. If you have any questions about these Terms and Conditions or wish to contact us for any reason whatsoever, please contact us through our website at https://www.blend.ph/.
3. If you wish to make a formal complaint, you may do so in person, in writing by post, email, or by telephone.