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Loan Agreement

This Loan Agreement sets the terms for BRADY PESO's loan-matching services, including eligibility, disbursement, repayment, and fees.

This Master Loan Agreement (the "Agreement") constitutes a legally binding contract between BRADY PHILIPPINES SERVICES INC. (the "Service Provider") and the individual applying for a credit facility (the "Borrower").

I. PLATFORM NATURE AND DISCLOSURE

The BRADY PESO mobile application (the "Platform") serves as a specialized technical interface. The Borrower acknowledges that the Platform facilitates the loan process, while the actual credit evaluation, financing, and fund disbursement are managed by our licensed financial partners (the "Lender"). By submitting a Loan Application Form (LAF) through the Platform, the Borrower agrees to the following terms:

II. FUNDING AND DISBURSEMENT

  • Approval Discretion: The approval of any loan remains at the absolute discretion of the Lender. Submission of an application does not guarantee financing.
  • Transfer Method: Upon approval, the Net Proceeds (Total Loan Amount minus applicable Service Fees and charges) will be transferred to the Borrower’s designated bank account or e-wallet as specified in the LAF.

III. FINANCIAL OBLIGATIONS

  • Commitment to Repay: The Borrower irrevocably promises to settle the total Payables, including the principal, interest, and any service charges, according to the schedule defined in the Disclosure Statement.
  • Fee Transparency: All applicable costs (Interest, Service Fees, and any Insurance) are clearly detailed in the Disclosure Statement section of this Agreement.
  • Payment Priority: Payments shall be made through the approved channels listed on the Platform.

IV. BORROWER’S WARRANTIES

The Borrower represents and warrants that:

  • They have reached the legal age of majority and possess the legal capacity to enter into this contract.
  • All data provided (IDs, financial status, and contact info) is authentic and current.
  • The loan proceeds will be used strictly for the legal purposes declared in the application.

V. PROVISIONS FOR DEFAULT (EOD)

An Event of Default shall be recognized if the Borrower:

  • Fails to remit payment within 45 days of the scheduled Due Date.
  • Provides fraudulent documents or misrepresented facts.
  • Becomes subject to insolvency proceedings or legal incapacity. Consequences of Default: Upon an EOD, the Lender reserves the right to declare the entire unpaid balance immediately due and demandable. The Borrower may also be liable for liquidated damages as permitted by law.

VI. EXTENSION AND MODIFICATION

  • Loan Extension: Borrowers may request an extension before the Due Date via the Platform, subject to the payment of an Extension Fee and any outstanding charges.
  • Amendments: The Service Provider or Lender may update the terms of this Agreement, provided such changes are communicated to the Borrower through the Platform or via registered contact methods.

VII. PRIVACY AND DATA USAGE

  • Verify the Borrower's creditworthiness through credit bureaus, the Credit Information Corporation (CIC), and other relevant bodies.
  • Share performance data (including defaults) with authorized third parties for fraud prevention and credit reporting purposes.

VIII. GOVERNING LAW

This Agreement is governed by the laws of the Republic of the Philippines. Any disputes arising shall be settled within the exclusive jurisdiction of Philippine courts.

[APPENDIX: DISCLOSURE STATEMENT]

(To be generated per transaction)

  • Principal Amount: ₱ 20,000
  • Service/Processing Fee : ₱ 0
  • Net Proceeds: ₱ 20,000
  • Loan Term : 120 Days
  • Daily Interest Rate: 0.05%/day
  • Total Repayment Amount: ₱ 21,200
  • Due Date(s):