Privacy Policy

Lender Information:
Company Name: 8 CARAT CASH AND CREDIT INC.
SEC REGISTRATION NO.CS201504284
CERT. OF AUTHORITY NO.1695

“Carat Cash” APP (hereinafter referred to as" “This product” ") is operated In order to clarify the rights and obligations between the users of this product (hereinafter referred to as “users” or “you”) and Carat Cash (hereinafter referred to as the “we” or “Platform”), and to maintain the legal rights and interests of both parties, in accordance with the principle of equality and mutual benefit, the two parties reached the following agreement (hereinafter referred to as the “Agreement”) on matters related to the services of this product for mutual compliance. This agreement is applicable to all activities of user registration and use of the company's products and services. To avoid misunderstanding, user's successful registration of this product shall be deemed as user of this product and shall be bound by this agreement.

Before registering as the user of this product, users must read carefully and fully understand all contents of this agreement. Users who have successfully registered or used this product shall be considered that the user has fully understood and agreed to all the contents of this agreement, and this agreement immediately has legal effect between the user and the company. All activities of user registration and the use of this product's services shall be subject to the restriction of this agreement and bear the corresponding liabilities and obligations. Please do not register or use this product if the user disagrees with the contents of this agreement.

Users shall ensure that they have reached the age of 20 and have full capacity for civil conduct when registering or using the product. If the user does not meet the above conditions, the user shall terminate the registration or stop using the product. If the user has borrowed from any of the other third parties who do not have the aforementioned conditions, the company has the right to refuse to provide services; If the company has provided services, the company has the right to terminate and retain the right to investigate and hold the responsibility, and any legal liability arising therefrom shall be borne by the user himself.

This agreement includes all the following terms, and also includes all kinds of rules (platform rules) that have been published or may be released in the future. All rules shall be an integral part of this agreement and have the same legal effect as this agreement. Users hereby confirms that they understand and agree that the company has the right to modify, add or delete this agreement from time to time as may be necessary. The company shall notify users of such modifications, additions or deletions in the form of publicity of this product, and users are obliged to pay attention to such publicity. Once the product is publicized, it shall be deemed that the user has been notified. Users shall agree and confirm that the company may send users various types of rules that may be issued in the future in the form of page messages, short messages, etc, which constitute a part of this agreement. If the user continues to use this product service after the change of this agreement and various rules, it is regarded that the user has carefully read, fully comprehended and agreed to accept and also promised to observe this agreement and various rules after modification, addition or deletion, and bear the corresponding responsibilities and obligations. If the user disagrees with the modification, addition or deletion of this agreement or any of the rules, the user shall immediately stop using the service of this product. The company reserves the right to suspend, terminate or restrict the user's continued use of the product's service, but such termination, suspension or restriction behavior does not exempt the user from the responsibilities and obligations that the product has already performed. The company shall not be liable for any legal liability arising therefrom.

I. Account Management

1.1 When users register this product, please provide accurate personal information according to the company's requirements, and timely update the user's accurate, up-to-date and complete identity information and relevant materials after obtaining the registered account (hereinafter referred to as “the account”), including but not limited to mobile phone number, ID card number, name of relative contacts and social contacts, occupation, bank account and other information so that the company and the user can have a timely and efficient communication.
1.2 Users shall register with their own legal identity information. If users falsely use, steal or pick up other people's ID card for the Company's products and services, the user shall assumes all legal liabilities; The Company is solely responsible for the formal review of the user's identity information, and assumes legal liability only within its own business scope.
1.3 This account is only for the user's own use, and the user is fully responsible for all operations and comments by using the account or password. The user shall properly keep the account, password and identity information. The user shall bear the losses caused by the leakage of password, identity information and verification code, etc. If the user has lost mobile phone, ID card, bank card or has other circumstances that may endanger the account fund safety of the product or any other fraudulently use or misappropriation of the account's login name or password without legal authorization, the user shall immediately notify the company in a valid manner and apply to the company for suspension of relevant services. Users shall not transfer, give away or inherit (with the exception of the relevant property rights) any personal information such as their account number and password in any way, except as otherwise provided by law or by judicial adjudication and with the consent of the company.
1.4 Users shall not borrow money from any third party through their registered account. Users fully comprehend and promise that they shall not rent or lend money to others with their own accounts, and they shall be fully aware that if they rent or lend their accounts to others, they shall still bear the repayment and other obligations under the Loan Agreement.
1.5 If the user breaches any of the above-mentioned conditions stipulated in this agreement, any legal liability arising therefrom shall be borne by the user, and the company shall not be liable for any liability.
1.6 When it is necessary to terminate the use of this product, the user may apply for cancellation of the product account, and the user shall cancel the account according to the procedures specified by the company. The account cancellation of this product will cause the company to terminate the provision of this product and related services to users. The rights and obligations of both parties as stipulated in this agreement shall terminate. However, other terms of this agreement that are not agreed to be terminated or those that cannot be terminated by their nature are excluded.
1.7 In the following cases, the company has the right to refuse the user's application for cancellation of the account and shall inform the user of the reasons for the rejection: 1. The account still has an unresolved relationship between rights and obligations; 2. The cancellation of the account will damage the legitimate rights and interests of the company, the company's users or others; 3.Other circumstances that the company deems that it is not appropriate to cancel the account.

II. Service Content

This product is invested and operated by the company, providing the user with information submission and review, contract management, fund lending, repayment management and other services as well as facilitating the user's borrowing and lending services on the platform of our company.

2.1 Submission and review of information: Credit assessment services refer to the service provided by the company to evaluate users' credit status by reading and analyzing users' personal public information, personal privacy information and other authorized information that users authorize the company to use. In order to allow the company to successfully analyze personal information related to users' credit information, the user hereby irrevocably authorizes the company to collect, read, analyze, use and process the following information of the user:
1) Party A's identity information;
2) Party A's mobile phone bill, list, real name system and other information;
3) Party A's bank card information;
4) Other information that helps Party B to grant Party A credit line.
2.2 Loan application approval: Users should apply in accordance with the procedures required by the company, including but not limited to bank card binding, photo with the card, verification made by the staff of the company or the company's designated institutions and personnel with the user through WeChat and telephone. After the user finishes the above application procedures, the company will review the application of the user.
2.3 Inquiry: The company will record all operations of the user in this product, regardless of whether the purpose of the operation is ultimately achieved. Users can check their personal information and loan transaction records under their registered user names in this product.
2.4 Transactions: When users apply for loans or other services on the platform, they must comply with the loan agreement and any other agreement reached between the user and the company.
2.5 Advertising: In the process of providing services, the company may, on its own initiative or by a third party advertiser, send advertisement, promotion or publicity information (including commercial and non-commercial information) to users, and the method and scope may be changed without special notice to the users. Users should carefully judge the authenticity and reliability of advertisement information appearing in the service. Except as explicitly stipulated by the law, the user shall be responsible for the transaction in accordance with the advertisement information.

III. Information Authorization

In order to conduct a smooth assessment of user credits to review users' loan applications, the user authorizes the company to obtain the relevant personal information of the user from the information filled in and authorized by the user and from other third parties. The details are as follows:

3.1 If user want to apply for a loan, user need to authorize Carat Cash to obtain the following permissions: read the address book, in order to determine whether user meet the criteria for loan.

3.2 The user shall, in the process of applying for the loan, open certain mobile phone permission according to the platform's prompt, not limited to camera, etc. The actual prompt of the platform shall prevail. The user may choose not to authorize and the platform has the right to refuse to provide credit and fund lending services for the user.

IV. Rules for Use

In order to effectively protect the legitimate rights and interests of users when using this product, users shall comprehend and agree to accept the following rules:

4.1 The company accepts the operation instructions required by the platform's registered account or bound mobile phone number of the user, and the user cannot withdraw or revoke once the instruction has been sent by the user through the aforesaid channels, and it shall be regarded as the user's own instruction.
4.2 The user shall register and complete the relevant personal information with their real names according to the platform's requirements, and the user shall ensure the authenticity of the submitted information. If there is any false, the company has the right to refuse to provide the service. If the user is suspected of fraud or misappropriation of other people's information, it may be recorded in the network credit reporting system, which may affect the user's credit record, and the company will reserve the right to investigate the user's corresponding legal liability.
4.3 The company is not a bank or other financial institution. This product is also not a financial business. The transfer of funds under this agreement is achieved through a bank or a third-party payment company. The user shall understand and agree to the reasonable time for the transfer of funds.
4.4 Any loss caused by the user's fault is borne by the user. The fault includes but is not limited to: not following the trading instructions; failing to perform transaction operations in time; forgetting or leaking passwords; verification codes, etc.; passwords being cracked by others, etc.
4.5 The company shall have the right to charge for the relevant service when the product is used by the user. The company has the right to formulate and adjust the service fee, and the specific service fee shall be based on the charging announcement listed on the product page when users using the product, or other electronic or written agreements between the user and the company.

V. Restrictions on Use

5.1 When using the product, the users should abide by the relevant laws and regulations of the Republic of Philippines, laws and relevant international practices of the country or region where the user is located. Do not use this product for any illegal purpose, nor use this product in any illegal way. Otherwise, the company has the right to refuse to provide the service, or terminate the agreement in advance and recover the loan, and the user shall bear all relevant legal liabilities.
5.2 Users shall not use this product to engage in acts that infringe upon the legitimate rights and interests of others. Otherwise, the company has the right to refuse to provide the service, or terminate the agreement in advance and recover the loan, and the user shall bear all relevant legal liabilities. If such acts result in losses of the company or the company's employees or other parties, the user shall be liable for the compensation.

The above actions include but are not limited to:

5.3 Users shall comprehend and agree that the company shall not be liable for any damages arising from any of the following circumstances:
1) The company has the right to make judgment on the basis of unilateral judgment, including but not limited to, the company believes that the user has violated the provisions and spirit of this agreement, and shall suspend, interrupt all or any part of the product account under the name of the user, or terminate this product or any part thereof to the user, and remove or publish the user's profile.
2) If the company has doubt about any abnormal transaction or reasonably suspects the transaction is in doubt or violates the law or the agreement, it shall have the right to suspend or terminate the use of the user's product account without notice (including but not limited to restriction measures such as the cancellation of the credit rating under the account name and the transaction in transit), and refuse users to use some or all of the functions of this product.
3) Users shall comprehend and agree that in the following situations, the company has the right to freeze or recover the user's registered account number or transaction, and has the right to restrict some or all of the functions of the product or service used by the user:
a． Subject to the provisions of this agreement.
b． According to laws, regulations and legal documents.

According to the authority's requirements.

The use of this product by users is suspected of violating national laws, regulations and administrative regulations.

The company, based on unilateral and reasonable judgments, believes that there is an abnormality in account information, operations, etc.

The company deems it possible to generate risk based on its own reasonable judgment.

Users' batch registration, provision of false information or materials and other frauds violate usage rules and the principle of good faith. Incorrect inflow of funds or other acts that may lead to the user's unjust enrichment. The user fails to perform the repayment obligation on time. The user damages others' interests and the other party has provided certain evidence.

5.4 If the user requests to release the above freeze or restriction, the user shall truthfully provide relevant information, the user's identity certificate and other information or documents required by the company for verification, and the company has the right to decide whether to approve the application at its own discretion.

Privacy Protection

The company attaches great importance to the protection of users' privacy. The company collects or uses users' personal information only for the purpose of providing services to users, improving service quality and the following situations:

6.1 Obtained the user's consent or authorization.
6.2 In some cases, only sharing user's information can provide the service and/or product that the user needs, or deal with the transaction disputes or disputes between the user and others.
6.3 Some services and/or products are provided by the company's partners or jointly provided by the company and its partners. The company will share with them the information required to provide services and/or products, and in this case, the company will require these partners to assume corresponding confidentiality obligations.
6.4 In accordance with the provisions of laws and regulations and the requirements of the competent authority.
6.5 To safeguard the legitimate rights and interests of the company, users and other users.
6.6 In accordance with the legal provisions and reasonable business practices, when the company plans to merge with other companies, or be acquired by other companies, or carry out other capital market activities (including but not limited to IPO, bond issuance), and when the company needs to accept due diligence from other entities under other circumstances, the company will provide user information to the necessary parties, but the company will require reasonable confidentiality measures to the user's personal information by signing confidentiality agreement with these entities.

VII. Platform Interruption or Failure

7.1 The user shall comprehend and agree that, during the process of using the product, risk factors such as force majeure may be encountered which may interrupt the service of this product. Force majeure refers to objective events which cannot be foreseen, overcome and avoided, and have significant impact on one or both sides, including but not limited to natural disasters such as flood, earthquake, plague epidemics and storm, etc., and social events such as war, turmoil, government behavior and so on. When the above situation occurs, the company will work hard to cooperate with relevant units at the earliest time possible and repair it in time. However, the losses caused to the users shall be exempted from the scope permitted by law.
7.2 To the extent permitted by law, the company shall not be liable for any interruption or obstruction of the services caused by the following circumstances:
1) Damaged by computer viruses, Trojans or other malicious programs and hacking attacks;
2) Breakdown of computer software, system, hardware, and communication line of the user or the company;
3) Improper operation of the user;
4) Users use this service in a manner not authorized by the company;
5) Other situations that the company cannot control or cannot foresee reasonably.

VIII. Scope of Liability and Limitation of Liability

8.1 The company is only responsible for the scope of liability as stipulated in this agreement.
8.2 The user information of the company is provided by the user himself, and the company cannot guarantee the accuracy, timeliness and completeness of the information.
8.3 The company does not provide any form of guarantee for credit evaluation and this product.

X. Legal Application and Jurisdiction

The validity, interpretation, variation, execution and dispute resolution of this agreement shall be governed by the laws of the Republic of Philippines, without the relevant legal provisions, with reference to the general international commercial practice and/ or industry practice. All disputes arising from this agreement shall be handled in accordance with the laws of the Republic of the Philippines.

Contact address:Unit 5D Marc 2000 Tower 1973 Taft Avenue Malate Manila, Manila, 1004 Philippines

Version date: July 2024