Assignment Agreement

ASSIGNMENT AGREEMENT Nr. {doc_nr}
date {date}

 Whereas, the Assignor has the right of claim against the Lender arising from the Financing Agreement, the Assignor and the Assignee with this assignment agreement (hereinafter – the Agreement) agree on the following:

PRINCIPAL TERMS AND CONDITIONS OF THE ASSIGNMENT AGREEMENT

 

1. Identification number of the Assignee (Investor): {bank_code}

2. Financing agreement: Nr.AF-HT-{investment_rate}-20201111

3. Amount of the Claim at the time of concluding the Agreement: {amount} EUR

4. Remaining amount of the Claim: indicated in the Assignee’s (Investor’s) Profile 

5. Interest: {investment_rate} % per year

6. Price of the Claim: {amount} EUR

7. Attracted Loan Agreement: {loan_nr}

8. The term of the settlement of the Claim: according to the actual repayment of the Attracted Loan

GENERAL TERMS AND CONDITIONS OF THE ASSIGNMENT AGREEMENT

1. Terms used in the Agreement and their explanation

Agreement	This assignment agreement concluded between the Assignor, the Assignee and Dofinance.
Assignee	An Investor who has purchased a Claim against the Lender on the basis of this Agreement.
Assignee’s (Investor’s) Account	An individual account of the Investor on the Investor’s profile of the Website which is created and serviced by Dofinance for the purchase and management of the Claims (for concluding and executing the Assignment Agreements).
Assignee’s (Investor’s) Profile	An operating platform is registered on the Website, which is available to the Investor after the Investor's registration on the Website every time the Investor has confirmed his / her identity with his / her e-mail address and password by logging in to the Website.
Assignor	Limited liability company "Alfa Finance", registration no. 50003443401, legal address: Antonijas iela 5, Riga, LV-1010, Latvia, which on the basis of the Assignment Agreement, transfers to the Assignee the right of claim (the Claim) against the Lender arising from the Financing Agreement.
Attracted Loan	Funds issued by the Lender to the Borrower in accordance with the provisions of the Loan Agreement. The repayment of these funds is a precondition for enforcement of the Claim in accordance with this Agreement, i.e. when the Lender has received repayment of the debt from the Borrower, the Assignee has the right to enforce the Claim in accordance with the provision of this Agreement.
Bank Account of the Assignee	A bank account has been opened in the name of the Assignee with any credit institution registered in the Republic of Latvia, a branch of a foreign credit institution in Latvia, other European Union credit institution or an EEA country.
Bank Account of the Assignor	A bank account opened in the name of the Assignor with any credit institution registered in the Republic of Latvia, a branch of a foreign credit institution in Latvia, other European Union credit institution or an EEA country.
Bank Account of Dofinance	Dofinance bank account indicated on the Website.
Borrower	An individual who has entered into a Loan Agreement with the Lender.
Claim	The right of a claim arising from the Financing Agreement against the Lender, which the Assignor transfers to the Assignee in accordance with the provisions of this Agreement. The amount of the Claim and the Interest on the use of the Financing are specified in the principal terms and conditions of the Agreement. One Attracted Loan is linked to the Claim in full or in part.
Dofinance	SIA “Dofinance”, registration number: 40203016025, legal address Antonijas iela 5, Riga, LV-1010, Latvia – limited liability company, which acts as an investment platform and ensures the sale of the Claims against the Lender, conclusion of the Assignment Agreements and servicing of the Claims.
Financing	Funds issued by the Assignor to the Lender in accordance with the procedure specified in the Financing Agreement.
Financing Agreement	Agreement under which the Assignor has lent funds to the Lender for the purpose of issuing the Attracted Loans to the Borrowers.
Interest	Compensation specified in the principal terms and conditions of the Agreement for the use of the Financing included in the Claim. Interest is calculated on the remaining amount of the Claim.
Investor	An individual or legal entity that has registered on the Website for the purpose of purchasing from the Assignor the Claims against the Lender offered on the Website.
Lender	The legal entity that has issued the Attracted Loan to the Borrower based on the Loan Agreement.
Loan Agreement	Agreement between the Borrower and the Lender on the issuance of the Attracted Loan to the Borrower.
Parties	Assignor, Assignee and Dofinance.
Price of the Claim	The fee that the Assignee shall pay the Assignor for the Claim. The Price of the Claim is specified in the principal terms and conditions of the Agreement.
Registration application	An application to register as an Investor that has been completed on the Website.
Secondary Market	Possibility of resale of the Claims in accordance with the Website Usage Agreement.
Website	Dofinance website with the address www.dofinance.eu, where individuals or legal entities can register as an Investor and create an Investor’s profile. The Website contains all the necessary information on the purchase and management of the Claims.
Website Usage Agreement	A distance agreement between Dofinance and the Investor on the procedure of using the Website.

 

2. General terms and conditions of the Agreement

2.1. With this Agreement, the Assignor transfers to the Assignee the Claim against the Lender arising from the Financing Agreement for the Price of the Claim agreed in this Agreement. The enforcement of the Claim depends on the actual repayment of the Attracted Loan.

2.2. The actual repayment of the Attracted Loan in respect to this Agreement serves as a precondition for the Lender's obligation to settle the Claim, i.e. the Assignee acquires the right to enforce the Claim when the Borrower has actually made any payment to the Lender under the Attracted Loan. The debt repayment schedule of the Attracted Loan Agreement in respect to this Agreement serves only as information to the Assignee when the payment from the Borrower could be expected, but not as a basis for the enforcement of the Claim and the Lender's obligation to settle with the Assignee.

2.3. A sample of the Attracted Loan Agreement, without the Borrower's personal data, as well as the repayment term of the Attracted Loan, is published on the Website in the Assignee’s (Investor’s) Profile. The Assignee hereby confirms that it has got acquainted with the terms and conditions of the Attracted Loan Agreement, has no objections to them, and waives  to raise any claims against the Lender, the Assignor or Dofinance in connection with the wording of the Attracted Loan Agreement.

2.4. The terms and conditions of the Financing Agreement supporting the Claim are published on the Website in the Assignee’s (Investor’s) Profile. The Assignee confirms that it has got acquainted and agrees with them, as well as waives  to raise any claims against the Lender, the Assignor or Dofinance in connection with the wording of the Financing Agreement. 

2.5. The Assignor confirms that the Financing has been issued to the Lender on the basis of the terms and conditions of the Financing Agreement and it has been used to issue the Attracted Loan to the Borrower on the basis of the terms and conditions of the Loan Agreement and it has been received by the Borrower. The Claim transferred to the Assignee has not been disposed, pledged to third parties or otherwise encumbered.

2.6. The Claim shall be transferred from the Assignor to the Assignee at the moment when the Assignee has paid to the Assignor in full the Price of the Claim specified in the general terms and conditions of the Agreement.

2.7. In addition to the Claim, the right to claim the Interest is transferred to the Assignee in accordance with the provisions of this Agreement as well. The amount of the Interest is specified in the general terms and conditions of the Agreement and is calculated as of the moment the Assignee acquires the Claim and until the Claim is fully settled or redeemed in a specific order under Section 6 of the Agreement. Interest is calculated on the remaining amount of the Claim. The Assignee acquires the right to the payment of the calculated Interest at the moment when the Borrower has paid to the Lender the interest on the use of the Attracted Loan for the same period. No Interest shall be calculated for the Assignee and he / she is not entitled to it if the interest paid by the Borrower to the Lender is calculated for the period during which the Assignee had not yet acquired the Claim unless the Claim is acquired from another Investor via the Secondary Market.

2.8. The Assignee may acquire the Claim to which the Attracted Loan is attracted in full amount or only in part thereof. If the Assignee has purchased a part of the Claim of the Attracted Loan in part, he /she is informed and agrees that his / her Claim will be settled, and the Interest will be paid proportionately in accordance with Section 5 of this Agreement.

2.9. Under this Agreement, the Assignee does not obtain any rights or assume any obligations against the Lender that may arise from this Agreement or the Financing Agreement, except for acquisition of the Claim. Either, the Assignee does not obtain any rights or assume any obligations against the Borrower under this Agreement.

2.10. Simultaneously with this Agreement, the Assignee authorizes the Assignor and / or Dofinance, without prior agreement with the Assignee, to make amendments and supplements to the Financing Agreement at its own discretion. The Assignee is informed that this authorization in respect of the Assignor and / or Dofinance is valid for the entire term of the Agreement and the actions performed by the Assignor and / or Dofinance in this regard are binding on the Assignee.

3. Confirmations and obligations of the Assignee

3.1. By concluding this Agreement, the Assignee confirms that it has got acquainted and agrees to the provisions of the Agreement, as well as has entered into the Website Usage Agreement, having previously acquainted and agreed to the provisions of the Website Usage Agreement.

3.2. The Assignee confirms that the rights and obligations arising from the Agreement are clear and understandable, and the provisions of the Agreement are consistent with the Assignee's intent.

3.3. The Assignment Agreement shall be deemed concluded and shall enter into force when the Assignee has approved the Agreement on the Assignee’s (Investor's) Profile of the Website and the Price of the Claim has been transferred from the Assignee's (Investor's) Account to Dofinance. At this point, the Agreement is considered fulfilled within the meaning of the Consumer Rights Protection Law, and the Assignee may not withdraw from it.

3.4. The Assignee confirms that at the time of concluding the Agreement it has legal capacity and the capacity to act; in the case of an individual, the legal capacity is not restricted, nor he/ she is affected by alcoholic, narcotic and / or psychotropic or any other intoxicating substances and in the case of a legal entity it is represented by a member of the board or another authorized representative, who has authorization to conclude transactions on behalf of the legal entity. In case the legal entity is represented by a member of the board or another representative who was not entitled to conclude transactions on behalf and in the interests of the respective legal entity, the individual who approved this Agreement shall be liable for fulfilment of the Agreement.

4. Payment procedure

4.1. Prior to concluding this Agreement, the Parties shall agree on the Price of the Claim at which the Assignee acquires the Claim. The Price of the Claim is determined and specified in the general terms and conditions of the Agreement.

4.2. Payment for the Claim by transferring the Price of the Claim shall be made by the Assignee simultaneously with the conclusion of the Agreement and approval of the provisions of the Agreement. The Assignee authorizes Dofinance to withhold the necessary funds from the Assignee's (Investor's) Account for the Claim (Price of the Claim) and transfer them to the Assignor.

4.3. As soon as the Assignee has agreed to purchase the Claim and approved the general terms and conditions of the Agreement, Dofinance transfers the Price of the Claim from the Assignee's (Investor's) Account to the Bank Account of the Assignor.

4.4. Payment for the Claim shall be deemed executed at the moment when the Price of the Claim has been transferred to the Bank Account of the Assignor.

5. Claim servicing and payment procedure

5.1. In accordance with the authorization granted in the Website Usage Agreement, Dofinance performs the servicing of the Claim, i.e. the payments received by the Assignor from the Lender in accordance with the performance of the Financing Agreement, which are attributable to the Attracted Loan, Dofinance accepts from the Assignor on behalf of the Assignee and transfers them to the Assignee in accordance with the procedure and amount specified in this Agreement.

5.2. In the interest and at the expenses of the Assignee, Dofinance shall take all reasonable actions to ensure that the Lender continues to service the Attracted Loan of the Claim, to service all payments made by the Borrower in accordance with the terms and conditions of the Attracted Loan Agreement, and to recover and performs all other necessary actions for the debt settlement. Dofinance, the Lender and the Assignor shall not be liable if the Borrower delays the payments arising from the Attracted Loan Agreement or fails to repay the Attracted Loan in full or in part.

5.3. As soon as the Assignee obtains the right to enforce the Claim in accordance with this Agreement, Dofinance shall reduce or settle the Assignee's Claim against the Lender by transferring the respective amount to the Assignee's (Investor's) Account. The amount by which the Claim is reduced or settled is calculated taking into account the following:

5.3.1. The principal amount of the Attracted Loan, which the Borrower has repaid to the Lender. If the Assignee has purchased the Claim only in the part of the Attracted Loan and not in full amount, then the principal amount of the repaid Attracted Loan is divided proportionally to the part of the Attracted Loan of the Assignee's Claim, i.e. in the Assignee's calculation, the principal amount repaid by the Borrower is attributed in the same proportion as the part of the Attracted Loan included in the Claim acquired by the Assignee against the total amount of the Attracted Loan;

5.3.2. Interest, if the Borrower has paid interest to the Lender for the use of the Attracted Loan for the respective period. The amount of Interest applicable to the Assignee is specified in Clause 5 of the principal terms and conditions of this Agreement (and not in the Attracted Loan Agreement). If the Assignee has purchased the Claim only in the part of the Attracted Loan and not in full amount, then the applicable Interest payment is divided proportionally to the part of the Attracted Loan of the Assignee's Claim, i.e. in the calculation of the Assignee's Interest, the interest paid by the Borrower is attributed in the same proportion as the part of the Attracted Loan included in the Claim acquired by the Assignee against the total amount of the Attracted Loan.

5.4. All payments due to the Assignee shall be transferred by Dofinance to the Assignee to the Assignee's (Investor's) Account immediately, but not later than within 5 (five) business days from the moment the Lender has received them from the Borrower, in accordance with the terms and conditions described on the Website. The Assignee is notified on the fulfilment of the Attracted Loan Agreement on the Website, and accordingly may monitor whether the Borrower repays the Attracted Loan and to what extent the enforcement of the Claim against the Lender has occurred.

5.5. Before transferring any payments to the Assignee to the Assignee's (Investor's) Account, Dofinance is entitled to withhold servicing charge of the Claim and other payments in accordance with the Website Usage Agreement, including the costs of servicing and recovering the Attracted Loan.

5.6. The Assignee is informed and agrees that in accordance with the provisions of the Attracted Loan Agreement, the Borrower is entitled to repay the Attracted Loan before the term specified in the Attracted Loan Agreement. In such a case, the Claim must also be settled before the intended repayment date, and the Assignee is not entitled to claim the Interest for the entire period, and the Assignee waives any claim rights against the Assignor, Lender or Dofinance, including claims for unearned Interest and / or loss of profits.

5.7. The Assignee is informed and agrees that neither Dofinance, nor the Lender, nor the Assignor is liable for the fulfilment of the Borrower's obligations under the Attracted Loan Agreement.

6. Redemption of the Claim in a specific order

6.1. The Parties confirm and agree that the Claim may be redeemed both before and after the term of enforcement of the Claim (the precondition for the Lender's obligation to make payment to the Assignee in accordance with the Claim has occurred) in the following cases and procedures:

6.1.1. Impossibility to repay and recover the Attracted Loan has been established. Impossibility of repayment and recovery of the Attracted Loan occurs if the Borrower has been announced as insolvent, the Borrower has died and the Borrower has no heirs who have taken over the obligations arising from the Attracted Loan Agreement, or the Lender has not been able to recover the Attracted Loan from the Borrower within 3 (three) years from the final repayment term of the Attracted Loan. If impossibility of repayment and recovery of the Attracted Loan has been established, the precondition for enforcement of the Claim shall no longer occur and the Assignee is no longer entitled to the remaining amount of the Claim and Interest.

6.1.2. Pursuant to the Website Usage Agreement, the Claim has been sold on behalf of the Assignee to another Investor or back to the Assignor.

6.1.3. The Lender has settled the Claim before the precondition of the right to enforce the Claim occurs (the Attracted Loan has not been repaid) by transferring the remaining amount of the Claim to the Assignee or transferring (assigning) its claim against the Borrower arising from the Attracted Loan Agreement to the Assignee. The Lender has the right to redeem the Claim at any time before the precondition for the enforcement of the Claim occurs.

6.1.4. The Assignor has exercised the buyback of the Claim by transferring the remaining amount of the Claim to the Assignee. The Assignor has the right to buyback of the Claim at any time.

6.2. The Assignee agrees that if the Claim is redeemed in accordance with any of the provisions of Clause 6.1 of the Agreement, the Assignee may not receive the Claim and Interest in full or lose the right to the Claim enforcement and Interest in full (a precondition for the Lender's obligation to settle the Claim cannot occur anymore). The Assignee waives any objections or claims against the Assignor, DoFinance and / or the Lender in this regard.

6.3. The Assignor, DoFinance and / or the Lender shall not be liable for the delay of the Borrower's repayment term specified in the Attracted Loan Agreement. The Assignor, DoFinance and / or the Lender shall not be liable to the Assignee, their successors or heirs, or to any other third party if the Attracted Loan Agreement is not fulfilled in full or partly by the Borrower and therefore the right to enforce the Claim does not occur and it is not settled in the usual manner, or the impossibility of repayment and recovery of the Attracted Loan has been established, or the Claim has been redeemed in accordance with procedure set out in the Clause 6.1 of the Agreement. 

6.4. In accordance with Clause 6.1 of the Agreement the Claim shall be deemed redeemed at the moment when the Assignor, DoFinance or the Lender has notified the Assignee in the Assignee’s (Investor’s) Profile on the Website on exercising the rights under Clause 6.1 of the Agreement, has prepared and approved the respective agreement on behalf of the Parties, if such is required, and has transferred the funds of the Assignee into the Assignee’s (Investor) Account, if such are due to the Assignee.

6.5. If the funds with which the Assignee has paid the Price of the Claim have been recognized or there is reason to believe that they will be recognized as criminally obtained funds, or the Assignee is included in a list of sanctions, the Assignor, DoFinance and / or the Lender in the cases specified under Clause 6.1 reserve the right to withheld the funds due to the Assignee, until the relevant order of the competent authorities. In any case, the Assignor, Dofinance and / or the Lender is entitled to withhold from any amount it is paying to the Assignee, the servicing charges of the Claim and other charges, if any, provided in this Agreement or the Website Usage Agreement.

6.6. The Assignor confirms that the Lender is aware of this Agreement, agrees to the provisions of the Agreement, including the rights of the Lender arising from this Agreement.

7. Termination of the Agreement

7.1. This Agreement shall remain in force until the obligations set out therein have been fully fulfilled or until terminated in the cases specified in this Agreement.

7.2. The Assignor and / or Dofinance have the right to terminate this Agreement unilaterally in the following cases:

7.2.1. if the Assignee has breached the provisions of the Agreement;

7.2.2. if the Assignee has provided false or inaccurate information to the Assignor and / or Dofinance;

7.2.3. if the Assignee uses the Website for illegal purposes;

7.2.4. if the Assignor and / or Dofinance has suspicions that the Assignee is using illegally  obtained funds to purchase the Claims, is financing terrorism, is included in a list of sanctions or performs other punishable actions in accordance with the Criminal Law of the Republic of Latvia and / or the Assignee has been involved in such activities;

7.2.5. legal protection proceedings, insolvency proceedings of an individual or legal person or other similar proceedings have been initiated against the Assignee;

7.2.6. If the Claim has been redeemed in a specific order in accordance with Section 6 of the Agreement.

7.3. If the Assignor and / or Dofinance unilaterally terminate this Agreement, a notice of this shall be provided to the Assignee at least 10 (ten) days in advance in the Assignee's (Investor's) Profile on the Website.

8. Force majeure

8.1. The Parties shall not be liable for non-performance or inappropriate performance of the obligations specified in this Agreement, if it is due to force majeure. Force majeure means any unforeseeable emergency or event beyond the control of the Assignee, the Assignor, Dofinance or the Lender and not caused by their fault or negligence, or which prevents the performance of any of the obligations under the Agreement and which could not have been avoided by taking reasonable precautions. Each of the following cases, events or circumstances shall be considered as a force majeure for the purposes of this Agreement (the list is not exhaustive):

8.1.1. uprising, revolution, civil war, armed conflict, terrorism, riot, rebellion, insurrection, civil commotion or disorder, usurpation of civil or military government, hostilities, war or warlike operations (whether a state of war be declared or not), invasion, act of foreign enemy, as well as strike, lockout, boycott;

8.1.2. confiscation, nationalization, mobilization, or commandeering under the order of any government de iure or de facto, ruler or any other act or failure to act of any local or national government;

8.1.3. hurricane, earthquake, landslide, floods, inundation, lightning, cyclones, storms, other extreme climatic or environmental circumstances which have been declared or recognized as natural disasters under applicable law, and pandemics, epidemics and other large-scale diseases;

8.1.4. nuclear explosion or any other explosion, radioactive contamination (including, but not limited to that from nuclear fuel, nuclear waste, nuclear explosives), ionizing radiation, chemical or biological contamination;

8.1.5. crashing aircraft, spacecraft or satellite, or any part thereof, and/or pressure waves caused by supersonic speed devices;

8.1.6. events, occasions or circumstances which under the applicable laws are declared as emergency, crisis or extraordinary situation in the Republic of Latvia or any administrative territory thereof;

8.1.7. The Borrower fails to perform its obligations under the provisions of the Attracted Agreement based on any of the cases of force majeure described in this Clause of the Agreement.

8.2. The Party that has suffered from the circumstances caused by force majeure is obliged to immediately notify the other Parties in writing on the occurrence of a case of force majeure. If further performance of the Agreement is not possible due to force majeure, then either Party has the right to terminate the Agreement by notifying the other Parties in writing at least 10 (ten) days in advance. Notification to the Assignee is provided to the Assignee’s (Investor’s) Profile on the Website.

9. Other provisions

9.1. This Agreement is a document with which the Parties are fully acquainted and the provisions of this Agreement are fully clear, understandable and acceptable to the Parties.

9.2. This Agreement has been concluded and approved electronically in accordance with the procedure specified in the Agreement, and it is valid without the signatures of the Parties. By approving the Agreement on the Website, the Assignee agrees to the terms of the Agreement.

9.3. The Assignee agrees and confirms that it is not entitled to the right of withdrawal specified in the Consumer Rights Protection Law of the Republic of Latvia from the day the Agreement is concluded and becomes binding to the Parties, i.e. when the Assignee has approved the Agreement on its Website in its Assignee’s (Investor’s) Profile and the Price of the Claim has been transferred to the Assignor from the Assignee’s (Investor's) Account.

9.4. It is possible for the Assignee to get acquainted with the Agreement in Assignee’s (Investor’s) Profile during the entire term of the Agreement.

9.5. This Agreement is governed by the laws and regulations of the Republic of Latvia. The provisions of the Agreement have been drafted and shall be interpreted in accordance with the laws and regulations of the Republic of Latvia.

9.6. All disputes and disagreements on issues arising from this Agreement shall be resolved by the Parties through mutual negotiations. If the dispute is not resolved within a reasonable time during the negotiations, it shall be settled in the court of the Republic of Latvia in accordance with the applicable laws and regulations of the Republic of Latvia.

9.7. This Agreement is concluded in Latvian and English. In case of discrepancies, the Latvian version of the Agreement shall prevail.

 

 FINANCING AGREEMENT

No.AF-HT-{investment_rate}-20201111

This financing agreement (hereinafter – Agreement) is concluded in Riga on 11^th of November, 2020 between:

SIA “Alfa Finance”, duly registered in the Registry of enterprises of Republic of Latvia with a No. 50003443401 and legal address at 5 Antonijas str., Rīga, LV-1010, Latvia, hereinafter referred as the Lender, on the one side

and

Hopetech PTE. LTD, duly registered in the company register of Republic of Singapore, with a Nr. 201921763Z and legal address at 156 Macpherson road #09-01 PSL Industrial Building,Singapore (348528), hereinafter referred as the Borrower, on the other side

both parties together hereinafter referred as the Parties, each separately – the Party,

whereas:

a)       The Borrower is a lending service provider that issues loans to private individuals, end borrowers (hereinafter - Clients);

b)      To ensure efficient daily commercial activities and cash flow the Borrower requires funds that is available and receivable at short notice;

c)       The Lender has agreed to provide the Borrower with required funds in the form of a credit line;

on basis of freewill, without false, fraud and duress agree on the following:

1.          Subject of the Agreement

1.1.     The Lender provides the Borrower with right to borrow funds in the form of a credit line (hereinafter - the Credit Line funds) with the maximum amount of EUR 1,000,000 (one million euro), (hereinafter – the Credit Line limit), in accordance with the provisions of this Agreement.

1.2.     The Borrower shall use the Credit Line funds received from the Lender to issue loans to the Clients.

2.          Granting and repayment of the Credit Line funds

2.1.     The Lender shall grant the Credit Line funds to the Borrower upon receipt of the Borrower's request in accordance with the provisions of this Agreement. In its request, the Borrower shall indicate to the Lender the required amount of the Credit Line funds. The total amount of the Credit Line funds granted to the Borrower and not repaid shall not exceed the Credit Line limit.

2.2.     Interest for the use of the Credit line funds:

2.2.1.  For the use of the Credit Line funds the Borrower shall pay to the Lender {investment_rate}% per annum from used (received and outstanding) Credit Line funds for entire period of use. When calculating interest, it is assumed that calendar month has 30 days and calendar year has 360 days.

2.2.2.  The Borrower undertakes to pay interest simultaneously with the repayment of the Credit Line funds in accordance with Clause 2.5. of the Agreement.

2.3.    The Credit Line funds are granted by transferring them to the Borrower’s bank account at PT. BANK DANAMON INDONESIA, account No. 3626860559, in 5 (five) business days from the receipt of the Borrower’s request in the Lenders e-mail. The day of granting the Credit Line funds is considered the day when the Credit Line funds are received in the Borrower’s bank account.

2.4.    To ensure proper interest calculation, the Borrower is obliged to e-mail to the Lender a bank statement confirming receipt of the Credit Line funds within 5 (five) business days from the day of receipt of the Credit Line funds.

2.5.    The Borrower undertakes to repay the Credit Line funds and interest for the use of these funds at the moment when the Client, to whom the Borrower has further lent these funds, has repaid the respective funds and interest for their use to the Borrower. The Borrower shall repay the Credit Line funds and pay interest not later than within 5 (five) business days from the moment when the respective funds have actually been received from the Client by transferring them to the Lender’s bank account at JSC Signet Bank, LV54LLBB 0003 2040 0029 38. The Borrower has the right to repay the Credit Line funds and interest before the precondition specified in this Clause of the Agreement has occurred. The repayment date of the Credit Line funds and interest is considered the date, when the Credit Line funds and interest are received in the Lender’s bank account.

2.6.    To ensure proper interest calculation, simultaneously with the repayment of the Credit Line funds the Borrower is obliged to e-mail to the Lender a bank statement confirming the receipt of the respective amount of the funds from the Client.

3.          Liability

3.1.     For the fulfilment of this Agreement the Parties are liable in accordance with the applicable laws of the Republic of Latvia.

3.2.     In all matters that are not regulated by the Clauses of this Agreement, the Parties shall apply the laws of the Republic of Latvia.

3.3.     The Agreement is binding to the successors of the Parties.

3.4.     If any of the Clauses of the Agreement becomes illegal or void, it shall not impact the legitimacy and enforcement of other Clauses of the Agreement. In this case the Parties have to negotiate and agree on solution in writing, as a result of which none of the Parties commercial and/or economic interests would suffer.

3.5.     Any disputes between the Parties in respect to the Agreement shall be settled by negotiations. In case the Parties cannot find the settlement  within the negotiation process, any, disagreement, dispute or  claim in respect to the breach, validity or termination of the Agreement shall be finally settled by the court of the Republic of Latvia in accordance with the applicable laws the Republic of Latvia.

4.          Term of the agreement

4.1.     The Agreement shall enter into force at the moment of its mutual signing and is valid until completion of liabilities of  both Parties set forth in the Agreement.

4.2.     Either Party has the right to unilaterally withdraw from the Agreement by notifying the other Party in writing 1 (one) month in advance in accordance with the procedure set forth in the Agreement. As of the provision of the notification referred to in this Clause of the Agreement:

4.2.1.  the Borrower has no rights to receive new Credit Line funds;

4.2.2.  The Borrower shall immediately, but not later than within 1 (one) month, repay the Lender all received Credit Line funds in full and interest for the use of the Credit Line funds until repayment date.

5.           Force majeure

5.1.     None of the Parties is responsible for non-fulfilment or delay in fulfilment of liabilities set in the Agreement, if such non-fulfilment or delay of fulfilment relates to the Force majeure. The Force majeure in this Agreement shall be considered as any citizens’ unrest, war, strikes and other circumstances, that disturb normal activity of the Parties; epidemics, pandemics, fire, floods and other natural disasters, that are outside the control of the Parties and directly effects fulfilment of liabilities. The Party that suffered the damage has to immediately send notification (together with any notification or information that it received in respect to Force majeure) to the other Party, informing that a Force majeure event has occurred and its effects, as well as has to make any effort to reduce the negative consequences from the Force majeure.

6.         Other

6.1.    The Agreement confirms entire agreement between the Parties. None of the oral supplements are considered to be the Agreement Clauses. Any changes in this Agreement shall come into force only when executed in written form and signed by both Parties. From the moment of signing the Agreement all previous negotiations, other written documents, determinations and agreements between the Parties on the subject of the Agreement are cancelled.

6.2.    Any notices and information provided by the Parties shall be prepared in writing (and sent by a registered letter to the address stated in the Agreement or provided against receipt confirmation), otherwise it is considered as voided.

6.3.    The Agreement is prepared in Latvian and English, and signed in 2 (two) original copies, where in case of an discrepancy of this Agreement Latvian version shall prevail.  

 

Requisites and signatures of the Parties

Lender

SIA Alfa Finance

Unified registration No: 50003443401

Legal adress: 5 Antonijas str., Rīga, LV-1010, Latvia

 

 

Borrower

Hopetech PTE. LTD

Unified registration No: 201921763Z

Legal adress: 156 Macpherson road #09-01 PSL Industrial Building,Singapore (348528)