General Terms & Conditions of Quanloop

1. Terms of Use

By registering on the website as an investor (hereinafter referred to as the Investor), you acknowledge that you have read these Terms & Conditions (hereinafter referred to as the Terms), you agree to the Terms, and agree to comply with the Terms.

The Terms apply to all legal relations of Investors of the website (hereinafter referred to as the Website) and Quanloop Limited Partnership Fund (hereinafter referred to as Quanloop). The Investor confirms that s/he has read these Terms and undertakes to adhere to them.

Some sections and services within the Website may be linked to specific conditions which apply in addition to the Terms.

Quanloop reserves the right to modify their service descriptions of the Website and/or the Terms, without prior notice.

Quanloop does not guarantee the absence of errors on, or the discontinued availability of, the Website. The Investor uses the Website at his/her own risk.

Quanloop is not responsible for any damage that may arise in connection with the use of the Website and the information available on the Website, nor does Quanloop issue any guarantees concerning the absence of errors on the Website, or in the information available therein.

All information available on the website, including the page layout and software, is protected under the Copyright Act. The information available on the Website, as well as the data contained therein, may not be reproduced, distributed or otherwise transferred to third parties without Quanloop's prior written permission.

Quanloop reserves the right to unilaterally amend and supplement the Terms at any time, including the restriction or addition of Website usage options, for the purposes of developing the services provided and to contribute to an improved and safer use thereof.

2. Disclaimer Notice

All products and services referred to on this Website are subject to the terms and conditions of respective agreements governing their use, and these terms and conditions may be modified periodically. The products and services referred to on the Website may not be available for residents of certain countries. Therefore, the services described on this Website do not constitute an offer to conclude a transaction in any jurisdiction where such an offer may be considered illegal.

The information available on the Website does not constitute an offer or invitation to buy any investment-related advice or other product or service, nor an offer to sell these to individuals in a jurisdiction where such offer or advertisement is not permitted or cannot legally be carried out, or to the persons to whom targeting such an offer or advertisement would be illegal. If you have decided to visit the Website, you do so at your own initiative and risk and are responsible for compliance with all laws, rules and regulations which apply to you.

The services that may be available through the Website of the Bondkick group are meant for such individuals or companies that are residents in the country in which the member of the Bondkick group which provides the service is resident. Residents of other countries may only use the services provided via the Website when this is permitted under the law applicable in their own country of residence, following the requirements of applicable laws and possible restrictions. Specifically, the services made available through the Website are not meant for any persons who are residents of those jurisdictions where such services are prohibited under the laws regulating the areas of securities, banking and insurance (especially in the United States of America, Canada and Japan).

3. User Registration, Personal Identification, Entry into The Customer Agreement and Use of The Financial Website

Quanloop allows natural and legal persons who have passed identification procedures (such as KYC, AML, etc.) and read and agreed with these Terms to use the services offered by Quanloop, including lending money to Quanloop and entering into agreements. An unidentified Investor is not able to use the services of the Website, except for modification or supplementation of their own data and personal identification.

In order to use the Website, a person must become an Investor on the Website. To this end, the person must register on the website, pass the identification process and agree with the Terms.

Upon registration, the Investor provides Quanloop with his/her e-mail address to which Quanloop sends an e-mail with a unique link which acts as a login link; such a login is made without a password.

Upon registration on the Website, the Investor provides Quanloop with his/her personal data including name and surname, date of birth, address of residence, and so on. Quanloop identifies the Investor on the basis of the provided data and one (1) identity document (which may include passport, identity card, residence card, or certificate of identity/alien's passport).

These documents must be valid for at least 6 (six) months after the submission deadline. Every document submitted must be in the Latin alphabet and scanned in colour to the following minimum requirements: 150 (one hundred and fifty) DPI quality, eight (8) bit colour depth and not exceeding a file size of 10 (ten) MB. Investor authentication may take from 1 (one) hour up to several working days, depending on the individual's residency and the identity documents submitted.

All data collected during the course of the identification process, as well as Investor registration, or at a later time, is collected and stored on the Website in the personal data section.

Quanloop has the right to refuse to register an Investor, regardless of the reason.

An identified Investor has the right to add legal entities affiliated to that Investor (Corporate Customers) on the Website. Adding a Corporate Customer is authorised only to legal representatives (member of the management board, procurator, etc). Adding a Corporate Customer can be carried out either automatically or manually.

Upon automatic addition, Quanloop requests data about the Corporate Customer from the commercial register or providers of credit information. If the required data is available, the Investor is not required to carry out additional identification.

Upon manual addition, the Investor provides Quanloop with all necessary data and documents regarding the legal entity, including a valid printout of the respective registry data. Thereafter, Quanloop verifies the submitted data and documents.

Quanloop has the right, regardless of the reason, to refuse to add a legal entity, and to ask for additional information. Upon adding a Corporate Customer, a Corporate Customer account is created on the system.

A Corporate Customer may use the Website through a legal representative who is a natural person and who is identified as an Investor on the Website.

A Corporate Customer undertakes to immediately inform Quanloop of any changes in its legal representatives. Quanloop has the right to terminate access to a Corporate Customer's account for an Investor whose right of representation has ended.

In order to use the Website, Quanloop may request Investor identification by way of an ID-card, Mobile-ID, bank link, or other identification measures which are accepted by Quanloop. For the submission of any declarations of intent which may bring about legal consequences, or to issue confirmations, Quanloop may require an Investor's signature to be issued by means of an ID-card, Mobile-ID, bank link, mobile communications, or other methods of authentication.

Quanloop has the right to modify the investor identification measures of a Customer, Corporate Customer or Investor at any time, and to utilise other measures of personal identification at its own discretion.

4. Collection of Personal Data and Processing Objectives Thereof

Quanloop processes the following personal data which has been submitted to Quanloop under the Terms or by any other means: Personal data (name, personal identification code, date of birth, nationality, identity document details, telephone number, address, e-mail address, etc) for the sole purpose of personal identification. For more information about the collection and management of personal data please read the Quanloop Privacy Notice located on the Website.

5. Cookies

This site contains cookies. Cookies are small text files that are placed on your computer by websites you visit. They are widely used to make websites work, or work more efficiently, as well as to provide information to site owners. Most web browsers allow some control of most cookies through browser settings. For more information about Cookies please read the Quanloop Privacy Notice and the Cookies Consent documents located on the Website.

6. Portfolio preferences

Quanloop offers loans at three risk levels: low, medium, and high.

Low risk level is applied to loans with a loan-to-value (LTV) ratio lower than fifty-five (55%) per cent, that is from zero (0%) per cent to fifty-four point nine (54.9%) per cent.

Medium risk level is applied to loans with a loan-to-value (LTV) ratio starting from 55% (fifty-five) per cent and lower than 85% (eighty-five) per cent, that is between fifty-five point zero (55.0%) per cent to eighty-four point nine (84.9%) per cent.

High risk level is applied to loans with a loan-to-value (LTV) ratio starting from 85% (eighty-five) per cent. This risk plan is also applied to loans without collateral.

The Investor must choose a risk plan or continue with the risk plan provided by Quanloop by default. The plan offered by Quanloop by default sets the Investor’s Portfolio risk plan to Low, offering all the money that the Investor transfers to Quanloop for investing to be invested under the Low risk plan.

The Investor must invest at least one-third (1/3) of its money within the Low risk plan.

The Investor may invest a maximum of one-half (1/2) of its money within the Medium risk plan if it invests at least the remaining half (1/2) of its money within the Low risk plan.

The Investor may invest a maximum of one-third (1/3) of its money within the High risk plan if it invests at least two-thirds (2/3) of its money shared equally between the Low and Medium risk plans.

The Investor must invest all of the money they keep in Quanloop. The Investor may not set less than 100% of their money to be invested under Low risk.

The Investor must define their preference of how their money is placed by choosing how much money will be invested under the Low risk plan, how much will be invested under Medium and how much money will be invested under the High-risk plan.

7. Loan origination and repayment

The Investor understands that the main business of Quanloop is wholesale funding.

The Investor lends money to Quanloop for the purpose of re-lending. Quanloop borrows different amounts of money to finance business entities via lending.

Quanloop never lends money to a consumer (that is a natural or legal person who will consume and repay the debt received, hereinafter referred to as the Consumer). Instead, Quanloop works with business partners who borrow money from Quanloop and further lend to the consumers (hereinafter referred to as the Partner).

Each time Quanloop lends money to a Partner, a separate loan agreement is signed for an amount, a term, and an interest rate that suits both Quanloop and the Partner (hereinafter referred to as the Partner Credit and/or Credit). Each Credit has collateral and/or is secured by personal guarantee(s); the Credit collateral is the basis for the loan-to-value (LTV) ratio calculation and risk planning (hereinafter referred to as the Original LTV). Each Credit, including all the collateral(s) and/or guarantee(s) is pledged towards the Loans borrowed from the Investors.

Each time an Investor lends to Quanloop, a loan agreement is signed for the amount of 1 (one) Euro, the term of twenty-four (24) hours and an interest rate proposed by the Investor (hereinafter referred to as the Loan).

The Loan is given for a term of 24 hours. The time when Quanloop receives the credit is 00:00:00 at midnight and the time it returns the credit is 23:59:59.

Each Loan principal is always fixed to the amount of 1 (one) Euro. The interest is always proposed by the Investor, predefined in the Portfolio preferences, and dependent on the Original LTV.

The Loan earns interest based on the annual interest rate defined by an Investor divided by the actual number of days in the current year (“Act/Act” day count convention). The interest is collected from the Quanloop clients’ bank account, visible for the Investor on the ‘Your portfolio’ page, and is repaid automatically to the Investor’s bank account in the following month on the date defined in these Terms. Interest is never reinvested.

The Loan is repaid on the day following the date of the Loan term. If Quanloop is unable to repay the Loan during the next twenty-four (24) hours following the date of the Loan term, it will pay extra annualised 2 (two) per cent for each delayed day (hereinafter referred to as the Delay premium). Delay premium is calculated by dividing 2 (two) per cent by the actual number of days in the current year (“Act/Act” day count convention). If the delay takes place, the Investor will earn the interest they have specified in the Portfolio preferences from the moment of the Loan acceptance, plus the Delay premium. If an Investor has changed their Portfolio preferences after the Loan acceptance, but the Loan is delayed, then the interest specified at the moment of the Loan acceptance is used for all calculations unless fully repaid by Quanloop.

If an Investor asks to withdraw money, but the money is locked within a Loan that has been delayed, the amount of money locked will be repaid right after the Loan has been repaid.

8. Interest payout

Quanloop does not apply a compound interest business model. All the money received will be automatically paid out to the Investor’s bank account.

Quanloop pays out interest once a month, on the 15th (fifteenth) calendar day of the following month. If the pay-out date is not a Bank day, the pay-out will be made on the first Bank day that follows the 15th (fifteenth) calendar day of the following month.

The interest that has been accrued during the current month will be paid out in the following month. For example, the interest from the Loan of the 1st (first) calendar day of the current month will be paid out on the 15th (fifteenth) calendar day of the following month along with the interest earned from the Loan of the 31st (thirty-first) calendar day of the current month.

9. Withdrawal of the Investor’s money

Quanloop will withdraw money into the most recent account of the Investor.

The Investor may request any amount of money from the Quanloop balance displayed on the ‘Your portfolio’ page. By the time of the withdrawal request, some money may be locked within a loan agreement until the following day (hereinafter referred to as the Locked money) or not (hereinafter referred to as the Free money).

Locked money will be transferred back to the Investor’s bank account on the following Bank day and the money will be released from the loan agreement.

Free money will be transferred to the Investor’s bank account by the end of the following Bank day.

10. Conflicts of Interest

We will ensure that any potential conflicts of interest that might arise between Quanloop and an Investor, or different Investors, are identified and managed effectively in accordance with our internal conflicts of interest policies.

11. Complaints

We always try to offer the best service possible. However, if you are unhappy with any service or product offered by us or any Quanloop related company, please contact us by email [email protected]

We will endeavour to resolve your complaint as quickly and as fairly as possible.

12. Other Miscellaneous Terms

If any provision of these Investor Terms and Conditions is found to be illegal, invalid or unenforceable by any court of competent jurisdiction, this will not affect the validity and enforceability of the remaining provisions.

The Website is an online service and all documents or notices that we wish to send you may be delivered to you through the Website on the pages accessed upon authentication. You may also receive by email a prompt from time to time for you to log into the Website. We may also send you letters to the address you have registered with us or in any other manner we consider appropriate.

Our rights under these Terms may be exercised as often as necessary, are cumulative and not exclusive of any rights or remedies provided by law. Delay in the exercise of any right granted to us in these Terms is not a waiver of that right.

Quanloop may assign or transfer all or part of our respective rights and obligations under these Terms to any person we reasonably consider capable of performing them. We may also exercise any of our rights through any Quanloop legally related company or a service provider we engage. You cannot assign or transfer your rights and obligations under these Terms.

These Terms are governed by and construed in accordance with Estonian law. If any dispute (whether contractual or non-contractual) arises out of, or in connection with, these Terms, we and the Investor submit to the non-exclusive jurisdiction of the courts of Estonia.