provisions of these Regulations of the Transaction Platform which shall be confirmed by the User and Viainvest electronically when creating the User Account
Private individual or legal entity who has become the User of the Platform by creating User Account therein and has entered into the Assignment Agreement
an agreement concluded between the Loan Originator as the Assignor and the Investor as the Assignee on Rights to the Claim transfer from Loan Originator to the Investor
a special inquiry form completed and submitted electronically by the Assignee in the Transaction Platform in order to open personalised Investor Account
agreed price between the Assignee and Assignor established in the Basic terms and conditions of the Assignment Agreement
the Loan Originator who owns the Right to Claim against the Borrower in accordance with the concluded Loan Agreement and transfers the Right to Claim to the Assignee
Auto Invest application
Order given by the User to Viainvest for automatic acquisition of Right to Claim(-s) according to certain criteria chosen and confirmed by the User
a private individual, with which the Assignor has entered into the Loan Agreement acting as the lender
Payments of the principal amount of the Loan, Loan annual interest rate and late payment fee (if applicable) arising from the Loan Agreement that are due from the Borrower to the Assignor
an officially determined business day of the Republic of Latvia, except for Saturdays, Sundays and public holidays
Minimum Claim Amount
The amount of the Right to Claim amounting at least at EUR 10.00, excluding any mark-ups and discounts (if any)
The Assignor that has disbursed the Loan to the Borrower and handles the claims arising from the Loan Agreement against the Borrower pursuant to the terms and conditions of the Loan Agreement and Assignment Agreement
Principal amount of the loan that has been disbursed to the Borrower pursuant to the Loan Agreement and is due, or a part thereof, which the Borrower shall repay to the Loan Originator and the Loan Originator shall transfer to Viainvest for paying to the Assignee depending on the assigned amount of the Right to Claim
Loan Agreement entered into by and between the Loan Originator and the Borrower
Loan Annual Interest Rate
Remuneration the Borrower shall pay to the Loan Originator for use of its funds that is calculated proportionally factual days of its use according to the Loan agreement. By Loan Annual interest rate is also understood late interest fee that is payable by the Assignor to the Investor, however dependent on factual Borrower’s payments to the Loan Originator. Loan Annual Interest Rate is paid out to the Assignee once the Borrower has repaid the Loan principal fully or partly. Calculation of Loan Annual Interest Rate is dependent on amount of Loan principal being factually landed to the Borrower.
SIA “Viainvest” and the User
The amount of payments payable by the Assignee to Viainvest for services received in relation to this Transaction Platform that is an integral part of this Agreement
Right to Claim
Loan Originator's right to claim against the Borrower arising from the Loan Agreement and consisting of the principal amount of the Loan and the right to late payment fee as established according to the Loan Agreement
The Loan Originator and the Investor
Online trading platform with the domain www.viainvest.com, where the User can create his/her personal account, open and close the deals, make payments and carry out all activities allowed by the Regulations of the Transaction Platform
Acquisition of Right to the Claim(-s)
Terms and conditions
Provisions of these Regulations of the Transaction Platform
A private individual or official representative of legal entity who has electronically created a User Account in the Transaction Platform that is confirmed by Viainvest. Within this Agreement also referred as the Assignee or Investor
An electronic account created by the Assignee in the Transaction Platform, which contains personal data independently provided by the Assignee and which the Assignee can access after his/her identity verification pursuant to the Regulations of the Transaction Platform. The information in User Account reflects current balance of virtual funds that are available for accomplishments of Transactions
Investor Account Number
an unique identification number of the User that is provided by Transaction Platform once the User Account is registered
User’s Bank Account
Current bank account opened on behalf of the User with credit institution registered in Latvia or any other country of European Economic Area
SIA “Viainvest”, limited liability company registered in Latvia under registration number No. 40203015744, creator and maintainer of the Transaction Platform
Viainvest's Bank Account
Viainvest's bank account No LV08HABA0551042253267 opened with AS “Swedbank” to which the User shall, pursuant to the Regulations of the Transaction Platform, transfer the User's funds for making payments via the Transaction Platform, and which is maintained separately from Viainvest’s property
2.REGISTRATION WITH THE TRANSACTION PLATFORM AND FORMATION OF THE USER ACCOUNT
2.1.Only registered User whose User account is confirmed by the Viainvest and is entered into this Agreement, are entitled to use the services offered by Viainvest in the Transaction Platform.
2.2.Prior Registration Form submission to the Transaction Platform and entering into the Agreement, the User shall confirm he/she complies with the following criteria and will always will comply during the validity of the Agreement and us of the Transaction Platform:
2.2.1.the User is a private individual or representative of the legal entity, resident of European Economic Area;
2.2.2.if the User is a private individual, the User must be at least 18 years old;
2.2.3.the User must have a User's Bank Account, and the User shall be authorized to freely dispose with the such account and funds stored therein (if any);
2.2.4.no insolvency procedures of the User have been announced;
2.2.5.pursuant to a judgment that has taken effect, the User does not have limited legal capacity due to disorders of mental nature;
2.2.6.The User shall acknowledge that, at the time of submitting the Registration Application and at the conclusion of the Agreement, he/she/it is fully legally capacitated and is not under the influence of alcohol, drugs, psychoactive, toxic or other intoxicating substances;
2.2.7.The User is a true beneficiary of the funds stored in the User’s bank Account and the funds involved in the Transaction(-s) are of legal origin and are not acquired as the result of a criminal offence, either directly or indirectly, or related to financing of terrorism or an attempt of such activities.
2.3.The User shall register with the Transaction platform, by completing the Registration Form and confirming the present Terms and Conditions. After the User registration and confirmation from Viainvest’s side the User's Account is automatically created on the Transaction Platform. Upon registration of the User on the Transaction Platform the User is provided by User's ID number.
2.4.Access and use of the User Account is possible when Viainvest has identified the User by the User's e-mail address and password indicated at the moment of Registration Form submission. The User shall be entitled to change the e-mail address and password used for User's identification in compliance with procedures established on the Transaction Platform.
2.5.If the User is a legal entity then Viainvest shall identify the signatory, for whom the rights to sign have been established in Transaction platform in the capacity of the User.
2.6.To conclude the Agreement, to use services offered in the Transaction Platform and to acquire Right to the Claim, the User shall ensure Viainvest with all required information in order to enable Viainvest to identify the User.
2.7.Viainvest is entitled to refuse the registration of a new User on the Transaction Platform without giving a reason for refusal.
2.8.The Investor Account is private, and only the owner of the Investor Account (the User) is authorized to enter into and use it.
3.USER IDENTIFICATION AND CONFIRMATION OF TRANSACTIONS
3.1.Viainvest shall identify the User according to the internal procedures approved by Viainvest. The identification of the User shall be accomplished according to the following procedures:
3.1.1.For identification purposes the User shall ensure that first payment into Viainvest’s Bank Account is made from User’s bank account opened with the credit institution registered in the European Economic Area. In such case Viainvest identifies the user by using information received from the appropriate credit institution. The User shall indicate its User ID Number in the respective and any consecutive payments made in favour to Viainvest’s Bank Account;
3.1.2.In order to identify the User adequately, Viainvest may, at its sole discretion, at any time request to the User to submit additional documents or information confirming the User's identity and unilaterally determine any additional requirements for the User identification, as well as introduce changes in the User identification process.
3.2.This Agreement between Viainvest and the User shall be deemed entered into and it shall become effective at the time when the User has confirmed the present Terms and Conditions and Viainvest has identified the User. Viainvest notifies the User about the fact of conclusion of the Agreement by sending a written notification to the User’s e-mail address. The User can examine the concluded Agreement and all concluded Assignment Agreements in the User’s Account.
3.3.The Registration Form completed in compliance with procedures established in the Terms and Conditions and depositing funds in the Viainvest’s Bank Account confirms that the User wishes to use the Transaction platform and the services offered therein pursuant to the Agreement provisions.
3.4.When registering and logging into (entering) the Investor’s Account on the Transaction Platform, the User must enter the User's e-mail address and password created at the moment of registration.
3.5.The User's activities performed on the Transaction Platform after entering the User's e-mail address and password shall be regarded as the User's signature or acceptance. All payments, payment orders, instructions, applications, agreements, as well as other documents confirmed or submitted by the User on the Transaction Platform after entering the User's e-mail address and password as prescribed on the Transaction Platform shall be binding to the User as well as Viainvest.
3.6.The User's password is deemed confidential information that the User and Viainvest undertake not to disclose and shall undertake to prevent that third parties can find it out. The User must keep the User's password in a secure manner, as well as regularly, however not less frequently than after a period prescribed by Viainvest, change/update the password.
3.7.If the User's password has become known or may have become known to a third party, the User must immediately inform Viainvest about it in writing or over the telephone, at which time Viainvest shall block access to the Investor’s Account as soon as possible, until, on the grounds of the User's application, the User is given a new User's password and the User has given an instruction to Viainvest to unblock the Investor’s Account.
3.8.Access to the Investor Account is blocked, if the User's password is entered incorrectly 5 (five) times in a row.
3.9.Viainvest is entitled to, however is not obliged to, block access to the User's Account in cases, when Viainvest suspects that the User's Account has been accessed without due authorization, including, if Viainvest suspects that the User's password has become known or may have become known to a third party or Viainvest has suspicions of the execution of illegal transactions, as well as in other cases at the discretion of Viainvest, in order to ensure safety of services, inviolability, confidentiality of the User and/or other Viainvest' clients or to prevent losses that might be inflicted upon Viainvest or the clients.
3.10.Viainvest shall be entitled not to approve the Transaction, if:
3.10.1.the User fails to comply with the Terms and Conditions;
3.10.2.Viainvest has suspicions about the identity of the User, and Viainvest has not been able to contact the User to confirm the content of the transaction
3.10.3.the User's instruction is unclear or distorted due to interruption in communication;
3.11. The User shall undertake full liability for the confidentiality of the User Account access information and losses incurred for the User as the result of actions of third parties.
4.USER ACCOUNT AND TRANSACTION COMPLETION
4.1.Viainvest shall accept funds in Euro currency from the User in Viainvest’s bank account exchanging them an equivalent amount of virtual money on the Investor’s Account. If the User makes the payment in another currency than Euro, Viainvest is entitled to exchange the received amount to Euro according to currency exchange rate of the credit institution selected by Viainvest on the day of exchange. All expenses related to the currency exchange shall be covered by the Investor.
4.2.The User shall be entitled to add funds to the Investor’s Account only on his/her/its own name, by transfer of the funds from the User's Bank Account to Viainvest’s Bank Account.
4.3.When transferring the funds to the Investor’s Account, the User in every case is obliged to indicate its Investor’s Account Number as the purpose of payment assigned to the Investor during the registration process with the Transaction Platform. If the User makes a payment without indicating the Investor’s Account Number, then Viainvest may consider such payment as non-executed until it is identified.
4.4.Funds deposited by the User into the Investor’s Account pursuant to the present Terms and Conditions shall be kept on the Viainvest’s Bank Account. No interest accrues or is paid to the User for the User's funds kept on the Viainvest’s Bank Account until there are invested by acquiring Right to Claim.
4.5.Viainvest is entitled to use the User's deposited funds only pursuant to the provisions of the Agreement and the Assignment Agreement. If Viainvest transfers the User's funds, which are deposited into the Viainvest’s Bank Account and kept separate from the Viainvest’s property, to the Loan Originator pursuant to the Assignment Agreement entered into by the User, the amount of money on the Investor’s Account will be simultaneously reduced by an equivalent amount.
4.6.The funds transferred by the Investor to Viainvest’s Bank Account should be separated from the Viainvest’s property and shall not appear on the financial statements of Viainvest. The User shall confirm that, when depositing the funds on the Viainvest’s Bank Account, he/she/it shall not be fully depositing the said funds to form a part of Viainvest’s property, but instead he/she/it shall retain the necessary rights to demand towards Viainvest for the amount reflected on the Investor’s Account.
4.7.If the User has not acquired Rights to Claim for more than 12 (twelve) consecutive months, Viainvest shall be entitled to close the Investor Account. If the Investor Account has a positive balance of funds, then, starting with the 13th (thirteenth) month, Viainvest is entitled to withhold the service commission fee from the Investor Account in the amount indicated in the Price List, and the Investor Account may be closed, once the balance of the Investor Account has reached 0 EUR (zero euro).
4.8.Viainvest shall reflect Transactions performed by the User in the User Account in the form of a report. Reports are available on the Investor's Account.
4.9.The User shall be entitled to request, at any time, that Viainvest disburses the funds on the Investor Account to the User's Bank Account. Viainvest disburses the funds existing in the Investor Account to the User on the grounds of Investor’s order provided in the Investor Account. Viainvest shall ensure the disbursement of funds present in the Investor Account to the User not letter than within 2 (two) Business Days after the receipt of the User's order. Viainvest shall be entitled to withhold funds for bank commission fees from the funds on the Investor Account or from the funds to be transferred to the User.
4.10.Investor may order to disburse the funds to other bank account rather than that which was used at User’s identification by virtue to sub-Paragraph 3.1.1. However, in this case, before the funds are transferred to the newly indicated bank account by Viainvest and in order to verify that the respective bank account belongs to the User, the User shalltransfer from the new bank account opened with the credit institution registered in the European Economic Area any amount of the funds to the Viainvest’s Bank Account.
4.11.Viainvest shall be entitled to make deductions from the Investor Account in order to ensure that the User's obligations arising from the Agreement and the Assignment Agreement are performed, including for the payment of Viainvest commission fees. Upon making deductions from the Investor’s Account, Viainvest shall transfer an equivalent amount from the Viainvest’s Bank Account to another bank account of Viainvest, where the funds are kept forming a Viainvest property.
4.12.It is illegal to deposit funds gained through unfair means into the Investor Account. In case of such suspicions transactions, the relevant authorities shall be notified, and this can lead to freezing all funds on the account, as well as to closing of the account and confiscation of funds.
4.13.If at the time of registering a User or during the period of validity of the Agreement, suspicions arise about money laundering, terrorism financing, or an attempt at either of these activities to Viainvest, Viainvest shall be entitled to not register a User on the Transaction platform, not accept funds from the User and/or block access to or close the Investor’s Account.
5.PURCHASING RIGHT TO CLAIM
5.1.Following User identification, pursuant to the present Terms and Conditions, Viainvest shall ensure on the Transaction Platform that all Rights to the Claim are arranged in one single list available also through the Investor Account.
5.2.If the User has sufficient funds available on the Investor Account, the User shall be entitled to purchase Right to Claims offered on the Transaction Platform, provided that:
5.2.1.the User shall, at his/her/its own discretion choose one or more Rights to Claims from the list that are offered on the Transaction Platform against one or several Borrowers ;
5.2.2.in the Investor’s Account, the User shall indicate the Assignment Fee at which the User wishes to acquire one or several Rights to Claim, and confirms his/her/its choice. The Assignment fee may not be smaller than the Minimum Claim Amount;
5.2.3.the User may purchase all such Rights to Claim towards a Borrower offered on the Transaction Platform that arise from the Loan Agreement, to the full extent or only a part thereof;
5.3.Viainvest shall register all orders from Investor on acquiring of particular Right to the Claim(-s) indicated by the User in consecutive order upon their reception at Transaction Platform and the orders should be executed according to Terms and Conditions applicable at the moment of acquiring. The Transaction platform system time has a decisive importance in determining the time. Viainvest is entitled, at any time, without warning the User, to unilaterally amend and supplement the procedures of order execution in force.
5.4.After the User has selected the Rights to Claims and indicated the amounts, a summary should be available to the User on the Investor Account. The User shall examine the completeness and accuracy of information included in the summary on the Transaction Platform, and, if the User wishes to, he/she/it may introduce changes in the information included in the summary. If the information in the summary on acquiring Rights to the Claims corresponds to the will of the User, User confirms it in the Investor Account.
5.5.Upon the confirmation stipulated in Clause 5.4. of the Terms and Conditions, the User's acquisition shall become binding upon the User and Viainvest shall immediately withdraw the funds confirmed by the User from the User's Virtual Account. The relevant Right o Claim shall be considered as transferred to the User once the funds are withdrawn from the Investor’s Account.
5.6.Viainvest shall immediately, after the withdrawal of the funds from the Investor’s Account stipulated in Paragraph 5.5. of the Terms and Conditions, transfer their equivalent from Viainvest’s Bank Account to Loan Originator’s bank account.
5.7.By submitting the order on acquiring Right to the Claim, the User authorizes Viainvest to perform a transfer of funds from the User's Account to the relevant Loan Originator, in compliance with the provisions of the Agreement and the Assignment Agreement.
5.8.The User confirms and understands that the User may purchase all Rights to Claim towards a Borrower that arise from the Loan Agreement, to the full extent or only a part thereof. By purchasing only a part of the Right to Claim, the User confirms and understands that the User shall not become the sole creditor of the Borrower pursuant to the Loan Agreement, and in such case, Viainvest, in compliance with the Terms and Conditions, shall process the Right to Claim together with such right to claims of other users of the Transaction Platform that arise from the Loan Agreement.
5.9.The User may, at any time, to view and examine information on the Investor’s Account about all transactions performed by the User on the Transaction Platform, about payments executed by Viainvest to the User, and deductions made by Viainvest from the User pursuant to the present Terms and Conditions and the provisions of the Assignment Agreement.
5.10.If due to interrupted system operations of the Transaction Platform the Investor’s Account is mistakenly credited or debited, Viainvest shall reserve the rights to debit or credit the User's Virtual Account accordingly. If the balance in the Investor Account is negative after making the adjustments of payments, the User must, within 3 (three) Business Days from the receipt of a Viainvest notification add funds to the Investor’s Account to clear the negative balance.
6. ACQUISITION OF RIGHTS TO CLAIM WITH AUTO INVEST
6.1.In addition to the procedure of purchasing Rights to Claims as described in Section 5 of the present Terms and Conditions, the User shall be entitled to order to Viainvest to accomplish Auto Invest Transactions for purchasing Right to Claim. Meaning of Auto Invest function is that Right to Claim are acquired according to criteria selected and confirmed by the User, thus ordering to Viainvest implement the User's selected strategy of acquisition of Right to Claim. By offering the Auto Invest application on the Transaction Platform, Viainvest is strongly prohibited and cannot give any recommendations or advice to the User with regard to acquisition of Right to Claim.
6.2.The User shall be held fully responsible for the settings that he/she/it has selected and confirmed, as well as shall assume full liability for consequences resulting from confirmation of such settings and using the Auto Invest application.
6.3.To connect the Auto Invest application, the User chooses the Auto Invest settings on the Transaction Platform at his/her/its own discretion according to the strategy he/she/it has chosen, which the User confirms in accordance with procedures established in the Transaction Platform.
6.4.By activating the Auto Invest application, Viainvest grants rights to the User to use the Auto Invest application for buying Right to Claim(s) on behalf of the User according to the Auto Invest settings approved by the User.
6.5.In order for the User to be able to purchase Rights to Claim through the Auto Invest application, the User must ensure sufficient funds on the Investor Account.
6.6.Upon accepting User's automatic instructions, given by the User through the Auto Invest application, Viainvest shall transfer the funds indicated on the automatic instruction from the Investor Account in compliance with the procedure established in Section 5 of the present Terms and Conditions.
6.7.Before connecting the Auto Invest application, the User shall, in compliance with procedures established on the Transaction Platform, confirm the standard terms and conditions of the Assignment Agreement proposed by Viainvest, pursuant to which the User instructs the Auto Invest application to conclude transactions with Assignors on behalf of the User. By confirming the standard provisions of the Assignment Agreement proposed by Viainvest, the User agrees to them and recognizes them as suitable for the User.
6.8.The User may examine the information about the execution of the instructions on buying Claims given through the Auto Invest application and about the disbursement of funds from the Investor Account in its Investor Account Number. Viainvest is entitled to, however is not obliged to, send a notification to the User at the User's e-mail address, confirming the execution of the User's instructions and a disbursement of the relevant funds from the Investor’s Account.
6.9.The User shall be entitled to connect, change settings, suspend temporarily, or disconnect the Auto Invest application at any time during the period of validity of the Agreement.
6.10.Viainvest shall hold no responsibility whatsoever about any losses that are or might be inflicted upon the Users in relation to the use of the Transaction Platform and the service available therein, including the use of the Auto Invest application.
6.11.  nbsp; The User must independently study the information on rights and obligations arising from the Right to Claim acquisition transactions concluded within the framework of Auto Invest.
7. ENTERING AND PERFORMANCE OF THE ASSIGNMENT AGREEMENT
7.1.Simultaneously with the approval stipulated in Clause 5.3. of the Terms and Conditions, the User shall confirm the provisions of the Assignment Agreement of the Right to Claim to be purchased in compliance with procedures established on the Transaction Platform.
7.2.The Assignment Agreement shall be deemed entered into at the time when the User has confirmed the provisions of the Assignment Agreement in compliance with the procedures established in the Transaction Platform, and the User shall become a Creditor.
7.3.After the Assignment Agreement is concluded and throughout the period of validity thereof, the Assignment Agreement shall be available to the User on the Investor’s Account and Viainvest shall immediately ensure the authorization to the User to examine the schedule of repayment of the acquired Right to Claim and the planned Loan Annual Interest Rate. The Loan Agreement and other related documents resulting from the conclusion of the Assignment Agreement shall not be handed over to the User (the Assignee) and shall be kept with Viainvest and/or the Loan Original.
7.4.The Borrower shall make the Borrower's payments each month pursuant to the Loan Agreement. The Loan Originator transfers received Borrower's payments to Viainvest including Loan Annual Interest Rate. Viainvest upon the receipt of the Borrower's payments from the Loan Originator shall distribute the received funds among all Assignees that has acquired the particular Right to Claim in the proportion to the amount of investment made by the Assignee.
7.5.Immediately after the division of the received funds, Viainvest shall transfer the respective amount to the Investor’s Account and shall withhold a service fee and other payments (if any) pursuant to the Price List from the Investor’s Account.
7.6.The Assignee is informed and agrees to the fact that a year consists of 360 days for the purpose of calculation of the Loan Annual Interest rate as well as the amounts to be paid based on the Terms and Conditions or the Assignment Agreement.
7.7.The User is aware of the risk of default on Borrower's obligations, as a result of which the User might not fully recover the Right to Claim. Loan originator will perform all the necessary and allowed actions to facilitate timely and full recovery of the Right to Claim without an involvement of the User. In event of the Borrower's default, Viainvest and the Loan Originator shall not assume the responsibility for the security of the Right to Claim, and Viainvest does not have an obligation to repay to the User its paid Assignment Fee or a part thereof.
7.8.The procedure of paying the Assignment Fee, the provisions of recovering Right to Claim(-s) and other conditions of assignment are stipulated in the Assignment Agreement.
8.SALE AND BUYBACK OF THE RIGHT TO CLAIM
8.1.The Assignee shall have the right to sell the Right to Claim only to the Loan originator and another User that has opened a User Account with the Transaction Platform.
8.2.The Assignee shall have the right to offer the Right to Claim to another User of the Transaction Platform for a freely chosen Assignment Fee.
8.3.In case of sale of the Right to Claim from one User to another User of the Transaction Platform, the transaction is reflected in both User Accounts. An amount of funds equivalent to the Assignment Fee is added to the User Account of the Assignee, who has sold the Right to Claim. An amount of funds equivalent to the Assignment Fee is deducted from the User Account of the Assignee, who has purchased the Right to Claim.
8.4.The Assignee, who has acquired the Right to Claim, has the rights to Borrower's Payments that are scheduled or paid after the moment of transfer of the Right to Claim according to the provisions of this Agreement.
8.5.By entering into this Agreement, the Loan Originator shall be granted the right of buyback of the Right to Claim, while the Assignee shall undertake to sell the Claim back to the Loan Originator, if the Loan Originator notifies its intent to exercise the right of buyback.
8.6.The Loan originator shall have the right to exercise the right of buyback granted thereto, if any of the following cases occurs:
8.6.1.the Borrower delays payments specified in the Loan Agreement and the payment schedule for more than thirty (30) days in compliance with the provisions of Clause 8.8. herein;
8.6.2.the Assignee has revoked the authority included in this Agreement or the Regulations of the Transaction Platform, either fully or partially;
8.6.3.Viainvest has restricted the Assignee's right to use the Transaction Platform pursuant to the Regulations of the Transaction Platform;
8.6.4.this Agreement is terminated early;
8.6.5.if the Borrower's insolvency proceedings are initiated, the Loan Originator shall immediately exercise the right of buyback granted thereto, whereof Viainvest shall undertake to send a written notification to the Assignee's e-mail address as provided in the User account. Upon sending Viainvest's notification on behalf of the Loan Originator, the Assignee's Right to Claim shall be deemed sold to the Loan Originator.
8.7.The Loan Originator shall have the right to exercise the right of buyback of the Right to Claim in any of the cases specified in Clauses 8.6. of the General Terms and Conditions, paying the buyback price to the Assignee.
8.8.If the Borrower delays at s regular payment of Loan principal or late payment fee (if any) for more than 30 (thirty) days, Viainvest shall immediately inform the Assignee in his/her User Account in the Transaction Platform or by sending an e-mail to the e-mail address specified by the Assignee on enforcement of the buyback of the Right to the Claim, paying the buyback price to the Assignee.
8.9.Viainvest shall inform the Loan Originator and the Assignee immediately about the occurrence of any of the cases specified in Paragraph 8.6. herein with an aim to provide the Parties with the right of buyback of the Right to Claim.
8.10.Upon entering into the Agreement, the Loan Originator and the Assignee shall agree upon the crucial parts of the transaction on the buyback of the Right to Claim. The Parties agree that the conditions of the transaction on the buyback of the Right to Claim are included in the terms and conditions of the Agreement and the conclusion of a separate transaction is not required. The agreement for the buyback of the Right to Claim shall be deemed as entered into once the buyback price referred to in Clause 8.11. herein is transferred to the User Account. In the case specified in Paragraph 8.6.5 herein, the agreement for the buyback of the Right to Claim shall be deemed as entered into once Viainvest has sent a notification on behalf of the Loan Originator to the Assignee.
8.11.The buyback price shall be determined, taking into account the invested, yet non-repaid principal amount of the Claim. The buyback price includes the accrued and non-paid Loan Annual Interest Rate of up to 30 days. Viainvest shall ensure that the buyback price received from the Loan Originator is stored in Viainvest's bank account, reflecting this transaction in the User Account in the Transaction Platform. When the buyback price is transferred by the Loan Originator to the bank account of Viainvest, it is deemed to consider that the Loan Originator has recovered full title of previously assigned stake of the loan.
8.12.The calculation of the buyback price is acceptable for the Assignee; the Assignee recognises it as full, final and exhaustive payment for the buyback of the Right to Claim. The buyback price shall not be changed and shall include all the applicable taxes and duties (current and future), which refer to the buyback price, the payment of which shall be the liability of the Assignee only.
8.13.The Assignee shall undertake not to express any complaints against Viainvest or the Loan Originator regarding the exercising of the right of buyback in regard to possible lost profit and other losses.
9.USER’S RIGHTS AND OBLIGATIONS
9.1.The User shall undertake:
9.1.1.not to use the Transaction Platform for illicit conduct, including fraud and money laundering;
9.1.2.upon registration on the Transaction Platform and when using the Transaction Platform, to provide only true information;
9.1.3.to use only secure means and devices of electronic communications and data transfer;
9.1.4.to promptly, however no later than within 3 (three) Business Days, to inform Viainvest in writing, if the User's name, surname, e-mail address, account number or other information provided on the Transaction Platform changes;
9.1.5.in communication with Viainvest, exercise decency and observe generally accepted behavior standards.
9.2.By confirming the present Terms and Conditions, the User asserts that he/she/it is capable of making decisions on purchases of Right to Claims and concluding Assignment Agreements, as well as that he/she/it understands all risks including the risk not to recover the Right to Claim or a part thereof.
9.3.The User is aware of and understands that third parties, who have obtained the User's password, can access the Investor’s Account and assume obligations on behalf of the User. If the Investor’s Account is used to carry out activities on the Transaction Platform (incl., buying Right to Claim(-s)) using a correct User's e-mail address and password, it shall be considered that the activities with the respective Investor’s Account have been performed by the User himself/herself/itself.
9.4.The User shall ensure that there are sufficient funds on the Investor Account for performing payments. If the funds on the Investor Account are insufficient, Viainvest does not execute the payment and/or Transaction. Viainvest shall not be held liable for losses, which the User might suffer in this regard.
9.5.The User understands and is informed that Viainvest and the Loan Originator have an obligation to ensure the confidentiality of the Borrowers' personal data, therefore Viainvest and the Loan Originator, in the scope of the Assignment Agreement, shall disclose only a limited content information about the Borrower. The User shall not request Viainvest and the Loan Originator to disclose such confidential information about the Borrower, and shall not make any complaints against Viainvest, the Loan Originator and the Borrower in this regard.
9.6.The User (Assignee), during the validity period of the Assignment Agreement, shall not contact the Borrower in respect of the concluded Assignment Agreement and the transferred Right to Claim, including shall not visit the Borrower at his/her/its residence or business location, not communicate with them, using means of prompt communication or social networks, not request from the Borrower any payments without the assistance of Viainvest and the Loan Originator, not make any claims against the Borrower and not initiate any claims in court or a court of arbitration against the Borrower.
10. PAYMENT FOR PROVIDED SERVICES
10.1.The User shall pay to Viainvest a Service Fee for the services provided by Viainvest pursuant to the Price List, or a service fee individually established by the User and Viainvest, as well as any other payments specified in the Price List, if applicable.
10.2.Viainvest shall withdraw the service fee from the Investor’s Account without additionally coordinating it with the User. Viainvest withdraws the service fee only after funds from the Borrower accrue to the Investor Account pursuant to the Assignment Agreement. In case of resale of the Claim (Section 11), Viainvest is entitled to withdraw the commission fee established on the Price List for the resale of Right to Claims immediately after the conclusion of the Assignment Agreement on the resale of the relevant Right to Claim, without making any additional arrangements with the User.
10.3.The payment obligation shall be fulfilled at the moment when the payment amount is transferred into the account of the payment recipient.
10.4.The User is aware of and understands that pursuant to the taxation laws and other regulatory enactments applicable to the User taxes must be paid for the income that the User earns in relation to the Right to Claim. Viainvest may deduct taxes, dues, and other mandatory payments pursuant to the laws of the Republic of Latvia from the funds to be disbursed to the User. The User shall be fully responsible for paying all taxes arising from the User's Right to Claim pursuant to the laws of the Republic of Latvia.
11. RESALE OF RIGHTS TO CLAIM
11.1.The User is entitled to sell his/her/its Right to Claim arising from the Loan Agreements to other Users, including to Viainvest or Loan Originator. Sale of Right to Claim between Users is performed only on the Transaction Platform. The User has no rights to sell or otherwise transfer the Right to Claims to a third party, without using the Transaction Platform.
11.2.If the User wishes to sell Right to Claim, the User marks the Right to Claim on the Transaction Platform, which the User wishes to sell within the framework of the Transaction Platform to the full extent or only partially. The User may sell the Right to Claim in its entirety or only a part thereof.
11.3.The User is entitled to sell his/her/its Right to Claim for the remaining principal amount of the Right to Claim as indicated on the Transaction Platform, with or without a discount or a mark-up. If the User wishes to sell the Right to the Claim with a discount or a mark-up, then the discount or mark-up is calculated from the remaining principal amount of the Right to Claim as indicated on the Transaction Platform. The resale price of a Transaction Platform consists of the remaining principal amount of the Claim to be sold as indicated on the Transaction Platform, and of a discount or a mark-up, if any, specified by the User.
11.4.On the Transaction Platform, the User must fill in the parameters of the Claim resale offer and confirm them according to the procedure established on the Transaction Platform.
11.5.The Rights to Claim resale offer shall be considered a binding offer by the User for all Users of the Transaction Platform and for Viainvest. The offer shall be considered made at the time when the User has confirmed all parameters of the Rights to Claim resale offer on the Transaction Platform. The offered Rights to Claim becomes visible for all visitors of the Transaction Platform, and all Users are entitled to acquire it at the resale price of the Right to Claim established by the User in compliance with procedures established in the Terms and Conditions and the Assignment Agreement. The User is entitled to call off the offer by the User proposed on the Transaction Platform at any time. The User's offer shall be deemed called off at the time, when the offer is no longer available for the other Transaction Platform Users.
11.6.The purchase of Claims is performed in compliance with procedures established in Section 5 and Section 6 of the Terms and Conditions.
11.7.The Assignment Agreement shall be deemed concluded at the time, when the User (the Assignee) himself/herself/itself or through the Auto Invest application has accepted the offer on the Transaction Platform stipulated in Clause 11.5. of the Terms and Conditions. At the time of concluding the Assignment Agreement, the Claim shall be deemed transferred to the User (Assignee).
11.8.After concluding the Assignment Agreement, Viainvest shall transfer the resale price of the Right to Claim indicated in the Assignment Agreement from the Investor's (the User’s) Account to the other Investor's (the User’s) Account.
11.9.With the conclusion of the Assignment Agreement, all further Loan principal payments arising from the Right to Claim shall be received by the User (the Assignee). The Loan Annual Interest rate calculated for the period until the conclusion of the Assignment Agreement shall be received by the User (the Assignor), whereas the Loan Annual Interest Rate after the conclusion of the Assignment Agreement shall be received by the User (the Assignee).
11.10.Resale of a Claim within the Transaction Platform may be carried out an unlimited amount of times.
12.1.The User shall be held liable for all losses incurred as a result of unauthorized conduct, if the User has acted illicitly or has intentionally (on purpose) or due to gross negligence failed to fulfill the requirements prescribed in Clause 3.6. or 3.7. of the Terms and Conditions.
12.2.The User shall assume liability for all losses, assumed commitments, or other activities carried out on the Investor’s Account until Viainvest has been warned on it according to Clause 3.7. of the Terms and Conditions and when Viainvest has had a sufficient time to block access to the Investor’s Account.
12.3.If, as a result from illicit activity of Viainvest, the User suffers losses, Viainvest shall reimburse all direct losses inflicted upon the User. The extent of damages is restricted with the amount of losses present in the Investor’s Account at the time when the losses were incurred.
12.4.The Loan Originator has asserted to Viainvest that, within the scope of its activities, it observes all legal requirements applicable to consumer lending, including, assesses the solvency of Borrowers, and with due diligence makes sure of the accuracy and completeness of data provided by the Borrower to make sure that the Loan issued to the Borrower is secure. The User is aware of and confirms that Viainvest is not responsible for the accuracy and completeness of information provided by the Borrower and/or Loan Originator.
12.5.Viainvest shall be fully released from liability towards the User for any losses that the User has or might suffer as a result of using the Transfer Platform or purchasing Claims, including:
12.5.1.if the User has sold his/her/its Claim with a discount or a mark-up;
12.5.2.if the User has failed to observe the Agreement provisions;
12.5.3.as a result of illicit conduct of third parties until the moment when the Investor’s Account is blocked pursuant to procedures established in Clause 3.7. of the present Terms and Conditions;
12.5.4.due to interrupted communications and other interruptions or obstacles that are not dependent on Viainvest;
12.5.5.if, pursuant to the Agreement, the User's access to the Investor’s Account has been blocked;
12.5.6.due to the Borrower infringing the Loan Agreement or the Borrower's illicit conduct;
12.5.7.due to the performance or delayed performance of the User's commitments arising from the Assignment Agreement.
12.6.Viainvest does not have the duty to pay for the Right to Claim or any other payments to the User, before the Loan Originator has received such payment from the relevant Borrower pursuant to the Loan Agreement.
12.7.Viainvest and the Loan Originator does not have to repay or compensate to the User for the paid Assignment Fee or any part thereof.
12.8.Users shall settle transactions on the Transaction Platform directly and on their own responsibility. Users are entitled to use the agreement forms offered on the Transaction Platform on their own responsibility and at their own risk. Viainvest shall not be responsible for possible commitments arising from laws that might originate to the Users as a result of transactions concluded on the Transaction Platform.
12.9.If the User denies having authorized (given consent) the performance of a Transaction, the use of the Investor’s Account and password shall be deemed a sufficient evidence for that the User has given consent to the transaction or that he/she/it has acted fraudulently, or has intentionally or negligently failed to fulfill the duties prescribed in Clause 3.6. or 3.7. of the present Terms and Conditions.
12.10.The Parties shall not be held responsible for failure to fulfill their respective obligations if the non-fulfillment has occurred due to reasons that are independent on the Parties' will and have resulted from force majeure circumstances. The Parties shall consider such circumstances as force majeure circumstances, which the Parties could not have predicted or affected, including power outages, regulatory enactments adopted by institutions of the Republic of Latvia or the European Union, strikes, military activity, natural calamities, or other circumstances, which the Parties could not have prevented or predicted. A Party may make a reference to force majeure circumstances only and solely in case if it has taken all steps that depend on it in order to fulfill the obligations prescribed in the Terms and Conditions. Once the force majeure circumstances have been prevented, the Party must immediately resume the performance of its duties.
12.11.As the Parties use means of communication during the performance of the Agreement, Viainvest shall not be held responsible for any losses incurred due to interrupted service of mail, facsimile, electronic or other means of communication, as well as technologies ensuring the respective Viainvest services, including, but not limited to, interrupted service of means of communication, interruptions in the functioning of the Transaction Platform, electronic data exchange and payment system of credit institutions (incl., online banking).
13.USER'S PERSONAL DATA
13.1.Viainvest is entitled to process all User's personal data received from the User (registered in the Data State Inspectorate of the Republic of Latvia), as well as to hand over to and receive the User's personal data and other information from third parties, databases, registries (such as the Population Register, State Social Insurance Agency, etc.) and to process it.
13.2.The purpose of processing the User's personal data is keeping client records, offering, rendering and maintaining services, financial and statistical analysis, exercising and protection of the rights of Viainvest and/or User arising from the Agreement.
13.3.Viainvest is authorized to disclose the User's personal data:
13.3.1.to any person related to the fulfillment of commitments arising to Viainvest from the Agreement (including to communications service providers, payment intermediaries, credit institutions, IT service providers, etc.);
13.3.2.to the parent company of Viainvest, its governing enterprise and any enterprises dependent on the governing enterprise, other companies or enterprises, which directly or indirectly have obtained a significant share in the share capital of Viainvest or in which Viainvest has obtained direct or indirect participation, insofar as such information is necessary for the performance of functions delegated to them;
13.3.3.to outsourced service providers that Viainvest has engaged in the provision of services arising from the Agreement, insofar as such information is necessary for the performance of functions delegated to them;
13.3.4.to personal data operators registered in the Data State Inspectorate of the Republic of Latvia of personal data processing systems, the supervisor whereof is Viainvest, insofar as such information is necessary for the performance of functions delegated to them;
13.3.5.upon handing over (transferring) a Right to Claim;
13.3.6.to a third party, who is taking debt collection steps to recover debt from the User (such as debt collectors, lawyers, court bailiffs, insolvency administrators, etc.);
13.3.7.to Viainvest’s legal, accounting, or auditing service providers, ensuring that the said persons have undertaken not to divulge such information.
13.4.The User shall agree that Viainvest is using the address, e-mail address, and/or telephone number indicated on the Investor’s Account to send commercial communications about the products or promotions of Viainvest or companies affiliated to Viainvest.
13.5.Viainvest is authorized to call and send text messages (SMS) to the telephone number having the connection of a mobile communications operator as indicated on the Investor’s Account, to send e-mails to the e-mail address indicated on the Investor’s Account, as well as to dispatch mail to the User's mailing address to reach the User.
14.TERMINATION OF THE AGREEMENT
14.1.Viainvest is entitled to restrict the User's right to use the Transaction Platform and/or terminate the Agreement and deletethe Investor’s Account without a warning, if:
14.1.1.the User breaches the present Terms and Conditions or the Assignment Agreement or otherwise illicitly uses the Transaction Platform;
14.1.2.the User has provided false or misleading information or counterfeit documents;
14.1.3.if Viainvest suspects money laundering, terrorism financing, or an attempt to do so, with the involvement of the User or the Transaction Platform.
14.1.4.Viainvest has the right to unilaterally terminate the Agreement at any time during the validity period of the Agreement, by sending a notice to the User's e-mail at least 10 (ten) Business Days in advance. In such case, as of the moment of sending the notice, the User is forbidden to conclude new Assignment Agreements, purchase new Right to Claims, or use the Investor’s Account. In this case, Viainvest continues to manage all of the User's Claims purchased before the notice by Viainvest on unilateral termination of Agreement is sent in compliance with the present Terms and Conditions and the Assignment Agreement.
14.1.5.At any time during the Agreement validity period, the User is entitled to request that the Investor’s Account is deleted and the Agreement is terminated on the condition that the User does not own any Right to Claims managed by Viainvest.
14.2.If the User wishes to delete the Investor Account and terminate the Agreement, the User sends a relevant notification from the User's e-mail address to Viainvest or fills in the relevant notification on the Investor’s Account and confirms it according to procedures established on the Transaction Platform.
14.3.If the Agreement is terminated, Viainvest transfers all funds of the User that are available on the Investor’s Account to the User's Bank Account no later than within 3 (three) Business Days after the termination of the Agreement.
15.OTHER TERMS AND CONDITIONS
15.1.Situations that are not described by this Agreement and/or Assignment Agreement shall be resolved in compliance with the principles and information reflected in the Transaction Platform.
15.2.If the representation of the numbers in words in the text of the Agreement differs from the representation in numbers, the representation of the numbers in words shall prevail.
15.3.All notifications of Parties must be put in writing and sent to the other Party within the Transaction Platform, by mail or e-mail, to the mailing and/or e-mail address indicated on the Investor’s Account. Correspondence sent in mail shall be deemed received on the 7th (fifth) calendar day following the date indicated on the stamp by the postal service provider on the acceptance of a registered letter. Notifications sent to the User's e-mail address shall be deemed received within 24 hours after the dispatch.
15.4.To develop and improve the services offered on the Transaction Platform, Viainvest is entitled to introduce unilateral amendments to the present Terms and Conditions. Viainvest shall post the amended Terms and Conditions in the Transaction Platform.
15.5.Within 30 (thirty) calendar days from the posting of the proposed amendments to the Terms and Conditions on the Transaction Platform, the User may rejects the proposal by notifying about it Viainvest in advance. If Viainvest has not received any written objections, it should be understand that the User has accepted amended terms and Conditions and then amended new terms and Conditions become binding to both parties.
15.6.Viainvest is entitled to unilaterally amend the Price List at any time, including to determine new commission fees and at the unilateral discretion of Viainvest grant discounts from commission fees indicated on the Price List. Information about changes in the Price List is available on the Transaction Platform at least 10 (ten) days in advance when the changes become binding to the User.
15.7.The Parties shall undertake not to divulge such information to any third parties, which derives from the present Agreement, except as prescribed in the laws of the Republic of Latvia and in cases established in the Agreement.
15.8.The laws and regulations of the Republic of Latvia shall govern the legal relations arising from the present Agreement.
15.9.Any disputes between the parties in relation to the use of the Transaction Platform and to the Terms and Conditions shall be resolved at the Riga City Vidzeme District Court pursuant to the effective laws and regulations of the Republic of Latvia.
15.10.The present Terms and Conditions are binding until the moment, when the Investor’s Account is deleted and all commitments of the Borrower originating from Loan Agreements, the Right to Claim arising wherefrom have been purchased by the User, have been fully met
15.11.The Agreement shall be stored in the Viainvest database in a PDF file format. The concluded Agreement shall be stored in the database for an indefinite time period.
15.12.The Agreement is drafted in the English language. The text of the Agreement in Latvian is a translation. In the event of discrepancies between the languages of the Agreement, the text in the Latvian language shall prevail.
Politically exposed person — a person, who is currently, or has been in the past in the Republic of Latvia or other member state or third country, in a publicly significant position, including the highest official of a state authority, head of state administrative division (local government), head of a government, a minister (deputy of minister or deputy of minister’s deputy, if the respective country has such a position), secretary of state or other high level official in a government or state administrative division (local government), member of a parliament or member of a similar legislative body, member of an authoritative structure (the board) of a political party, a judge of the constitutional court, supreme court or a different level court (member of a judicial institution), member of the council or member of the board in highest revision (audit) institution, member of the council or member of the board of a central bank, an ambassador, authorized clerk, highest officer of the armed forces, member of the council or member of the board of a state capital company, head (director, deputy director) of an international organization and member of the board or a person, who has an equivalent position in this organization.
Family member of a politically exposed person — a person, who is
the politically exposed person’s: a) spouse or a person comparable
to a spouse. A person can be considered as comparable to a spouse,
only if the legislation of the respective country provides for such
a status, b) child or child of the politically exposed person’s
spouse, or child of a person comparable to a spouse, his/her spouse
or a person comparable to a spouse, c) parent, grandparent or
grandchild, d) brother or sister;
Person closely related with a politically exposed person –
natural person, about who it is known, that the person has business
relationship or other close relations with politically exposed
person, or he/she is a shareholder or member in the same capital
company with politically exposed persons, as well a natural person,
who is the sole owner of a legal establishment, about which it is
known, that it has been established in the interest of a politically