Blend Philippines - Online peer-to-peer funding platform

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.

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.

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.

GENERAL TERMS

blend.ph’s principal roles are:

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).

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.

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.

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.

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.

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.

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.

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.

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.

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 [email protected]blend.ph.

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.

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.

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.

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.

You are responsible for all costs you incur in accessing the platform.

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.

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.

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.

OTHER IMPORTANT TERMS

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.

All disclaimers, indemnities, and exclusions in these Terms and Conditions shall survive termination of the agreement between us for any reason.

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.

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.

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.

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.

These Terms and Conditions were last updated on April 12, 2019.

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.

Complaints

In the event that you have a complaint, the Company will make every effort to rectify the problem as soon as practicably possible.

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.

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.

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.

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