1.1 You are a Member of Flender and are entering into a Loan Agreement with an individual who is a Lender and member of Flender. Your Loan Account may be made up of a number of Lender Member Loan Agreements which form your Loan Account. The Lender Members who make up your Loan Account will be set out on your Loan Account Schedule.
1.2 The Terms and Conditions of your Member account are as set out on the Flender Website.
1.3 Flender will pay the Amount of Credit into a bank account nominated by you on the execution of this Loan.
1.4 You confirm that:
1.4.1 You have been in full employment for at least 90 consecutive days prior to entering into this Loan Agreement and receiving a regular pay or salary amount;
1.4.2 You received your last salary payment on your last payday;
1.4.3 Your last payday occurred within the period beginning 30 days before the date of your Loan Application;
1.4.5 You have no reason to believe that your future salary or other income payments will not be paid to you on or before the Payment Dates, into the bank account (“the Borrower's Account”) specified by you in the Loan Application;
1.4.6 You have a valid bank debit card (“the Borrower's Debit Card”) which you have nominated for us to use as an alternative method for the purposes of repaying this Loan and which is acceptable to us;
1.4.7 If the Borrower's Account is a joint bank account, you have individual, full and unrestricted authority to nominate such account for repayment purposes and any bank debit card nominated by you in the Loan Application for the purposes of these Terms and Conditions;
1.4.8 You authorise Flender to debit the amounts payable by you on each Payment Date and any other fees that you may incur under this Loan Agreement;
1.4.9 You confirm that you are not under notice of redundancy or termination of your employment contract and have no intention of leaving your current employment;
1.4.10 You are not a Borrower under any proceedings in bankruptcy and have no intention to file a petition for relief under the Personal Insolvency Act 2012;
1.4.11 You are not currently in or contemplating entering into a Debt Settlement Arrangement or a Personal Insolvency Arrangement with all or some of your creditors and you have not, and have not been, the subject of a Debt Relief Notice, a Debt Settlement Arrangement or a Personal Insolvency Arrangement under the Personal Insolvency Act 2012 (capitalised terms in this clause have the meanings given to those terms in the Personal Insolvency Act 2012);
1.4.12 You are a Irish resident and over 18 years of age; and
1.4.13 You have provided Flender with complete and accurate information.
1.5 You applied through Flender as the Platform Operator. Flender may charge you the Borrower Arrangement Fee which will be added to your account with us. Flender operates the Operating Platform that we are both members of. As such, they are acting as a Platform Operator in relation to your loan and are paid the following:
1.6 Successfull Arrangement Fee. Applicable to commercial customers.This equates to a fee of 2.75% of the amount borrowed, whichever is greater and will be separately invoiced and deducted from the gross amount advanced.
1.7 Interest Margin. As the Loan provided is through the Operating Platform operated by Flender, accordingly, Flender charges for operating the Operating Platform and an agreed percentage of each Monthly Instalment will be deducted from the payments made by you before being passed on to us.
1.8 Unless otherwise provided in this Loan Agreement, all payments will be applied first to default fees payable under conditions of default, charges, interest charges due under this Loan Agreement and then to the Loan Amount Total (including the Loan). Moneys paid are paid into the Flender Client Account and distributed according to the terms and conditions .of the Flender Borrower Agreement, the Flender Lender Agreement and this Agreement.
1.9 You grant permission to contact your employer (as specified by you in the Loan Application under the section entitled "Employment Information") at any time as may be reasonably required to confirm the fact of your employment only.
1.10 You must inform Flender immediately of any changes to your bank details or employment details, or of any other changes in circumstances which may affect your ability to make payments under this Loan Agreement.
1.11 Repayments of the monthly instalments will be made by bank debit card on the Repayment Payment Dates.
2.1 Flender operates the Operating Platform where both you and us are members. You have applied for the Loan through Flender.
2.2 There is no limit to the amount of Lender Members who can make up your Loan Account.
2.3 You are in control of setting the Interest Rate at which you want to repay. We may also select the Interest Rate at which we lend to you, so long as the total amount that you repay each month does not exceed the maximum amount you indicated in your Loan Application.
3.1 You agree to pay to Flender the total amount payable as stated in the Key Financial Information section 2 at the beginning of this Agreement in accordance with Part III of the CCA. The total amount payable must be paid on the Repayment Dates and the entire of the Loan must be repaid by the final Repayment Date. The total amount payable is based on the amount of credit being provided for the duration of this Agreement. If you do not repay the total amount repayable on the scheduled Monthly Repayment Dates the total amount you repay will be different.
3.2 You have the right to withdraw from the bank debit card repayment arrangements at any time by notifying Flender by letter, email or telephone call. You should be aware that if you withdraw from the Direct Debit you will still owe any outstanding debt and will need to provide an alternative method of repayment on the due date to avoid going into default. If you have provided us with a (CPA), Flender may attempt payment on your due date if payment is not made by bank debit card.
3.3 To cancel a bank debit card you may contact your bank directly. Alternatively, you may ask Flender to cancel it in writing, either by post to Flender or by email.
Please be aware that, if you do cancel, you will still owe any outstanding debt and you will need to find an alternative method of payment on the Repayment Date to avoid going into default.
3.4 In the event that the date or dates set out in this Agreement should fall on a Saturday, Sunday, or a public holiday, then payment may be taken on the next available business day.
3.5 If you fail to pay any repayment due under this Agreement in full on its due date then we may require you to pay the charges as set out in this Loan Agreement
3.6 If any of the following occurs then Flender, upon our instruction may, after giving you notice in writing, end this Agreement:
3.6.1 if you fail to pay any amount due to us within 5 days of its due date; Your Account will be deemed to be in arrears and subject to both default fees and penalty fees (on which interest shall accrue)
3.6.2 if we become aware that any information provided by you before entering into this Agreement is false in a material respect;
3.6.3 if you are declared bankrupt or sequestration, enter into a Debt Settlement Arrangement or a Personal Insolvency Arrangement, or are the subject matter of a Debt Relief Notice under the Personal Insolvency Act 2012 or have a trustee appointed over your estate, enter into a debt relief order or debt management plan.
3.6.4 If any of your Lender Members take enforcement action against you and/any of your assets and possessions.
3.7 If we and/or Flender end this Agreement on our instructions, then we will require you immediately to pay any outstanding balance and all charges due under this Agreement. Our right to recover any unpaid sums (including any charges that we require you to pay on such sums) will continue to apply following the termination of this Agreement. If it is necessary for us and/or Flender to instruct a DCA on our behalf to collect any outstanding sums, you will be liable to pay all reasonable collection fees and commissions charged by the DCA.
3.8 You have a right to withdraw from this Agreement by sending us written notice within a period of 14 days from the day after the date of this Agreement (which is referred to in these terms and conditions as the “ Period of Withdrawal”). You have 30 days to repay the amount due (including daily interest, the Interest Margin and the Arrangement Fee) thereon. You may exercise this right of withdrawal cancellation during the Period of Withdrawal by giving us notice of your wish to withdraw by either:
3.8.1 Sending a letter to NKK Finance Ltd t/a Flender.
3.8.2 Sending an email to Flender. Their email address is at firstname.lastname@example.org, or by telephone to 01-6641237
Your notice to us withdrawing from this Agreement must clearly state your name and address and your request to withdraw from this Agreement. Where there are multiple Member Lender Agreements to your Loan Account you must pay them all and the accrued interest to withdraw from your agreement.
3.9 You have the right to receive, on request, at any time during this Agreement a statement of account showing:
3.9.1 The details of each instalment owing under this Agreement;
3.9.2 The date on which any instalment is due and the amount and any conditions relating to the payment of the instalment; and
3.9.3 A breakdown of each instalment showing how much comprises:
a) Capital repayment;
b) Interest payment;
c) The Interest Margin;
d) If applicable, any other charges.
4.1 The information Flender collect from you is used by them to assess your creditworthiness and the affordability of your account, to manage your account and to make collections; it is also used to contact you for marketing purposes; it is disclosed by them when legally required to do so in accordance with the CCA and/or at the request of government authorities conducting an investigation. They also use it to verify or enforce compliance with the policies governing their website and applicable laws or to protect against misuse or unauthorised use of their website.
4.2 In considering whether to enter into this Loan Agreement, Flender may search your record(s) on our behalf at credit reference agencies. They will add details of our search and your application to their records about you. This will be seen by other organisations that make searches. The search of records at credit reference agencies may be linked to your spouse/partner, or other persons with whom you are linked financially. For the purposes of any application or this Loan Agreement you may be treated as financially linked and you may be assessed with reference to "associated records".
4.3 Flender may also add to your records with the credit reference agencies details of your agreement(s) with us, the payments you make under it and any default or failure to keep to its terms. These records will be shared with other organisations and may be used and searched by us and them in order to:
4.3.1 Consider applications for credit and credit related services such as insurance for you and any associated person;
4.3.2 Prevent or detect money laundering and fraud;
4.3.3 Trace Borrowers or recover debts;
4.3.4 Manage your accounts.
4.4 It is important that you provide Flender on our behalf with accurate information. Flender may check your details with fraud prevention agencies and if you provide false or inaccurate information or they suspect fraud, this information may be recorded. Fraud prevention agency records will be shared with other organisations to help make decisions on credit (including, but without limitation, on motor, household, life and other insurance proposals or claims for you and members of your household).
4.5 Please write to Flender at the address stated above, or telephone on 01-6641237 if you require details of the credit reference agencies or any other agencies from whom they obtain, and to whom they pass, information about you. You have a legal right to these details. You have the right to receive a copy of the information held by Flender about you if you apply to Flender in writing. A small statutory fee will be payable.
4.6 You may have opted-out of receiving marketing communications from Flender, but if not you may do so at any time by responding to any of their email communications with "remove" in the subject line, by sending them an email to email@example.com or writing to them at address provided above.
4.7 Flender will only use your data for marketing purposes if you have expressly opted in to this service and specifically for each medium they market to you on.
4.8 Your data remains on file for 6 years after their files with your information are closed, whether your loan is settled by you, or if it is in default.
5.1 The Borrower and the Lender have in accordance with this Agreement, the Flender Lender Agreement and the Flender Borrower Agreement appointed Flender as their sole agent to execute and complete this Loan Agreement and as their agent in liaising with the other.
5.2 This Loan Agreement once electronically signed by the Borrower and the Lender via the operating platform and subsequently reviewed and approved as a Loan Agreement by Flender as their agent, is considered executed on behalf of the Borrower and the Lender and shall be binding upon them.
6.1 Flender is committed to responsible lending. It is important that you do not take on more borrowing than you can afford. Remember, if you run into difficulties with your repayments, please contact Flender immediately.
6.2 Flender take affordability seriously and consider each lending decision individually on the basis of what they know about your circumstances, based on the information you have provided to them, and your credit and repayment history.
6.3 Flender strictly observe the requirement to undertake due diligence on all customers. This means Flender will not complete any transaction and pay out funds until they are sure they know who you actually are, in accordance with the provisions of The Criminal Justice (Money Laundering and Terrorist Financing) Act 2010 (as amended by Part 2 of the Criminal Justice Act 2013) and associated legislation.
7.1 If you have a complaint, Flender will investigate it and accord you any rights and remedies which you are entitled to. Your complaint should be addressed to The Sweepstakes, Alexandra House, Ballsbridge, Dublin 4. They will acknowledge your complaint within 48 hours of receipt and will try to resolve it as soon as possible. If they cannot resolve your complaint quickly and need to further investigate it they will send you a letter by the end of 8 weeks and say whether they:-
i. accept the complaint and where appropriate offer redress; or
ii. offer redress without accepting the complaint; or
iii. reject the complaint (giving reasons why they are doing this) or
iv. explain they are unable to give a final response, advise you of the reason for the delay and tell you when you can expect to receive a final response.
7.2 If you are not happy with the final response, you may have a right to have your complaint dealt with by the Financial Services Ombudsman’s Bureau of Ireland of Lincoln House, Lincoln Place, Dublin 2, telephone number 003531 662 0899 or Lo Call 1890 88 20 90. If you wish to do so, you must notify the Financial Services Ombudsman in writing within 6 months of Flender’s final response.
8.1 The Lender is a Lender Member of the Operating Platform operated by Flender. Flender are registered by the United Kingdom's Registrar of Companies and our company number is 08479948.
8.2 Flender is registered with the Data Protection Commissioner in compliance with the Data Protection Legislation.
9.1 If we do not enforce our rights under this Loan Agreement at any time, or delay doing so, we will not be prevented from doing so later.
9.2 Any notice or demand we give will be assumed to have been properly given if served on you personally, or left or sent by prepaid envelope addressed to you at your current address or last known business or private address or sent by email to an address provided by you. If sent by first class post it will be assumed to have been received by you 48 hours after posting.
9.3 We may transfer or assign all or any of our rights under this Loan Agreement without your consent but if we do so you will be informed of this.
9.4 You confirm that you have received, read and considered your Adequate Explanation Sheet – Questions and Answers about your Loan explaining your Loan Agreement and the Pre-Contract Information (Standard European Consumer Credit Information – SECCI).
9.5 This Loan Agreement shall be construed according to the laws of Ireland whose courts shall be the exclusive courts of jurisdiction over any claim or matter arising under or in connection with this Loan Agreement.
9.6 The contractual terms and conditions, and the prior information, are in English. We undertake, with your agreement, to communicate with you in English during the duration of this Loan Agreement.
9.7 If any court or competent authority finds that any provision of this Loan Agreement (or part of any provision) is invalid, illegal or unenforceable, that provision or part-provision shall, to the extent required, be deemed to be deleted, and the validity and enforceability of the other provisions of this Loan Agreement shall not be affected. If any invalid, unenforceable or illegal provision of this agreement would be valid, enforceable and legal if some part of it were deleted, the provision shall apply with the minimum modification necessary to make it legal, valid and enforceable.