GENERAL TERMS AND CONDITIONS

for using the financial services provided at www.helplending.net

GENERAL PROVISIONS AND SUBJECT MATTER

1. These General Terms and Conditions shall determine the relations between Help Credit AD, UIC: 203569425, with a seat and management address: 1700 Sofia, 23A Pastar Svyat Str., represented by the Executive Director, and the Users of the provided financial services through the web page www.helplending.net and through the representatives of Help Credit AD.
2. Through its representatives and through www.helplending.net, Help Credit AD provides the opportunity for natural and legal persons to acquire shares of up to 30% of the right to receive payments on payable principals and interest for loans provided by Help Credit AD.
3. These General Conditions are an integral part of the individual receivables transfer agreement concluded between Help Credit AD and a client of the financial service offered by the company. With the individual agreement, Help Credit AD transfers receivables from a Borrower to the User which is the result of a Loan Contract, at the price determined in the individual agreement. The receivables will be transferred from Help Credit AD to the User upon the full payment of the receivables price by the User for the benefit of Help Credit AD.
4. The transfer of receivables for principals and interest is only part of all the rights Help Credit AD has with regard to the Borrower, as a result of the contract for the provision of a loan, and the User understands and confirms that the User will not be the sole lender of the Borrower, as well as that under the Loan Contract, Help Credit AD will continue to administer the receivables along with the receivables of other Users of www.helplending.net, arising from the same Loan Contract.
5. The User shall create their own User Profile at the internet page www.helplending.net. For this, the User shall provide all the mandatory and required information in a registration form, as well as the requested documents Help Credit AD checks before activating the created User Profile. If necessary, the User shall cooperate with Help Credit AD in verifying the information and/or shall provide additional information.
6. The registration of the User Profile shall mean full acceptance of these General Terms and Conditions.
7. The services provided by Help Credit AD are offered and provided “as is” upon their provision.
8. All actions made through the User Profile shall be on behalf and at the expense of the User. If the User is a legal person, it shall verify that the individuals actually accessing the financial services at www.helplending.net on their behalf and at their expense have been duly authorised in accordance with the effective legislation and the internal rules of the legal person.
9. The User can use the services under Item 3 through the features of www.helplending.net or through the representatives of Help Credit AD

 

SERVICES AND PAYMENTS

 

10. The User will pay Help Credit AD the mutually agreed and established in the individual agreement price for the transfer of the receivable.
11. Help Credit AD provides all services and transactions in Bulgarian Leva (BGN), Euro (EUR) and US Dollars (USD). Payments in US dollars (USD) are accepted at the exchange rate of the BNB on the day of receipt of the transfer. Withdrawals in US Dollars (USD) will be paid the equivalent of (USD) at the exchange rate on the date of receipt by the user. The exchange rate difference in the movement of the US dollar (USD)/Bulgarian leva (BGN) in the period between payment and withdrawal is at the user's expense. Payments to foreign accounts will be made at the relevant buy/sell rate of the servicing Help Credit AD bank. SHA payment method will be applied according to the current tariff of the servicing Help Credit AD bank. In all cases, the fees payable to Help Credit AD and the applicable bank fees will be deducted from the balance of the User's User Profile for outgoing payments.
12. The incoming and outgoing payments related to the transfer of rights under Item 3 shall be registered in the User Profile. The payments shall be performed by bank transfer or through another type of payment services specified by Help Credit AD.
13. The User shall transfer funds to their User Profile only by bank transfer from their bank account in their name, as provided during the creation of the User Profile or through a payment service stated by Help Credit AD. If funds are received from a different bank account, they shall be returned and the fee for the bank transfer shall be borne by the User.
14. If the service User has any loans in arrears to Help Credit AD under Item 3, all profits from their User Profile will be used for the immediate repayment of the overdue loans.
15. All unused amounts by the User which have been registered in the User Profile can be returned to the User upon their request through the respective feature at www.helplending.net in accordance with these General Terms and Conditions and the individual receivables transfer agreement concluded with Help Credit AD.
16. The minimum amount in the User Profile is BGN 100.00.

DECLARATIONS

17. Help Credit AD declares that the company:
    • has the legal capacity to provide the services described in these General Terms and Conditions;
    • shall act with due care for the performance of their obligations under these General Terms and Conditions;
    • has never been, is not and will not be involved in money laundering schemes and/or terrorist funding;
    • shall apply the practices of responsible lending.

 

18. The User hereby declares that he/she:
    • shall not require and has not received advice for financial services from Help Credit AD;
    • has the legal capacity and knowledge to use the financial services provided by Help Credit AD;
    • understands and agrees that Help Credit AD cannot and will not guarantee return;
    • has never been, is not and will not be involved in money laundering schemes and/or operations for terrorist funding;
    • shall bear all costs of using the financial services provided by Help Credit AD;
    • understands and agrees that, within the time limit of the individual agreement, Help Credit AD shall be entitled to make amendments and conclude additional agreements to the Loan Contract, without the prior consent of the User being required therefor. In case of changes to current legislation, after concluding the individual agreement, or by decision of regulatory or other state and municipal authorities according to which Help Credit AD shall undertake to make amendments to the Loan Contract resulting in changing Borrower’s payments or extending or postponing maturity dates, the User agrees that Help Credit AD will make the changes described without the prior consent of the User. Help Credit AD shall not undertake to notify the User after their effective date and the User shall deem them binding.

 

CONFIDENTIALITY AND PERSONAL DATA

19. Help Credit AD is a registered administrator of personal data.
20. The information provided during user profile registration (including if there is personal data) is protected by technical and organisational measures as per the Personal Data Protection Act.
21. The whole content, data and information about transactions in the user profile is confidential. As such, the information shall not be distributed by any Party without the written consent of the other Party. This rule shall not apply with regard to providing information to a competent state authority in relation to its work or during audits.
22. Any personal data provided during the validity of these General Terms and Conditions is confidential and the User shall consent to their processing by Help Credit AD.
23. Any personal data provided shall be used only and in relation to the administration by Help Credit AD of the provided financial service to the User. If any personal information has to be provided to third persons – subcontractors or partners of Help Credit AD, the User agrees that this information shall be provided only to the extent necessary to perform the activity of Help Credit AD while complying with the security requirements.
24. The User agrees to receive information from Help Credit AD regarding the services provided at www.helplending.net.

DEFINITIONS AND SEGMENTS

25. A User may be a natural person of the full legal age or a legal person registered and duly operating , with a bank account in a bank.
26. The acquisition of rights by Help Credit AD shall mean the initial acquisition of the entirety or of part of the right to receive payments for the payable principal and interest for loans granted by Help Credit AD.
• the acquisition of rights in segment A is for loans without delay in receiving repayments.
• the acquisition of rights in segment B is for loans with delayed repayment of up to 30 days.
• the acquisition of rights in segment C is for loans with delayed repayment of up to 60 days.
27. A mediated acquisition/transfer of rights between users of www.helplending.net shall mean that the User may determine a sale price and declare their offer of rights under Item 26. Any other user may confirm that they wish to acquire the rights (any parts thereof) at the price specified. Following an inspection, Help Credit AD shall reacquire the rights (any parts thereof) from the Seller in the current transaction at the stated price. Thereafter, Help Credit AD shall transfer the acquired rights (any parts thereof) to the Buyer against the stated price.
28. A borrower is a natural or legal person to whom Help Credit AD provides the financial service of a loan.
29. Receivables or any part thereof of Help Credit AD against the Borrower resulting from the financial service provided. The receivables consist of the principal amount of the loan and interest. The value and composition of the receivables are specified in the individual agreement.
30. The price of the receivables (nominal value) is determined in the individual agreement for transferring receivables.
31. Interest – the remuneration specified in the individual agreement which is part of the receivables and is paid under the repayment plan attached to the Loan Contract. Interest will be charged on the residual value of the principal on the receivables.

MISCELLANEOUS

32. The User understands and accepts that no service provided through helplending.net guarantees profitability or return. The financial services provided are at risk of loss and their use is entirely at the discretion of the User.
33. Any information available at helplending.net shall not constitute a proposal, offer, advice, advertisement, call for action, etc., unless explicitly designated as such.
34. The user profile may be deactivated upon the User's request, subject to the conditions of Item 34; on the grounds of a reasonable suspicion of Help Credit AD for misuse or order by a state authority regarding the origin of the means of illegal activity.
35. Help Credit AD shall endeavour in good faith to publish information on the website. At the discretion of Help Credit AD, each publication shall be subject to change without notice.
36. The user profile may be terminated upon request of the User. In this case, the User shall sell the rights acquired. If the profile is deactivated due to illegal activity, the portfolio shall be liquidated in its current state. Funds shall be transferred upon disposition of the competent state authority.
37. These General Terms and Conditions may be changed by Help Credit AD by a non notice to the users. The User may terminate their profile if they find the new conditions to be inappropriate subject to the provisions of these Terms and Conditions.
38. Help Credit AD, at their discretion, may update, develop, change the services provided and www.helplending.net at any time.
39. Any disputes between the parties shall be settled in good faith. If no agreement can be reached, any unresolved disputes caused by these General Terms and Conditions between the parties or related to them, including disputes caused or referring to their interpretation, invalidity, performance or termination, as well as disputes regarding the supplementation of gaps in the General Terms and Conditions or their adjustment to emerging circumstances, shall be resolved by the competent court in compliance with Bulgarian legislation.
40. In the event of any inconsistencies between the Bulgarian and English text of these General Terms and Conditions, the Bulgarian text shall prevail.
41. Help Credit AD shall not be liable for any damages caused to equipment, including mobile devices, computer equipment and any other hardware, software, etc. of the User, which occurred during and/or in relation to accessing (including attempts to access) the information at www.helplending.net.
42. Any user names, passwords, one-time passwords, identification codes shall only be used by the User and shall not be provided to third parties. The User shall bear all consequences if their Profile is accessible through data under the previous sentence due to their actions and/or inactions

These General Terms and Conditions are adopted and published at helplending.net and shall become effective on 1 May 2020.