Mintos agreement

Version: 8.0
Version: 9.0.
Date of version: 28.11.2019.
Date of version: 12.08.2020.
(1/13)
(1/14)
GENERAL TERMS AND CONDITIONS OF PLATFORM USER AGREEMENT
GENERAL TERMS AND CONDITIONS OF PLATFORM USER AGREEMENT
Table of contents:
Table of contents:
1. Definitions and Interpretation 1
1. Definitions and Interpretation 1
2. Registration on the Platform and creation of the Investor's Profile 3
2. Registration on the Platform and creation of the Investor's Profile 3
3. User due diligence, identification and confirmation of transactions 3
3. User due diligence, identification and confirmation of transactions 3
4. Virtual Account and adding funds 4
4. Virtual Account and adding funds 4
5. Purchasing Claims 5
5. General terms on purchase and sale of Claims and purchasing Claims manually 5
6. Purchasing Claims with Auto Invest and Invest & Access 6
General terms on purchase and sale of Claims 5
Purchasing Claims manually 6
6. Strategies 6
7. Conclusion and execution of the Assignment Agreement 7
7. Conclusion and execution of the Assignment Agreement 7
8. User’s rights and obligations 8
8. User’s rights and obligations 8
9. Mintos rights and obligations 9
9. Mintos rights and obligations 9
10. Payment for the services of the Platform 9
10. Payment for the services of the Platform and payment waterfall 10
11. Resale of Claims 9
11. Resale of Claims 10
12. Liability 10
12. Liability 11
13. User’s personal data 11
13. User’s personal data 12
14. Termination of the Agreement 12
14. Termination of the Agreement 13
15. Conduct in case of Mintos insolvency 12
15. Conduct in case of Mintos insolvency 13
16. Other Terms and Conditions 13
16. Other Terms and Conditions 14
17. Transitional provisions regarding previous version of the Agreement 14
1. Definitions and Interpretation
1. Definitions and Interpretation
1.1. The Definitions:
1.1. The Definitions:
Agreement
Agreement
an agreement of a user of the www.mintos.com Platform concluded between the User and Mintos. This Agreement and agreements concluded on the Platform may be referred to on the Platform as the “Agreement of a user of the www.mintos.com portal concluded between the User and Mintos”.
an agreement of a user of the www.mintos.com Platform concluded between the User and Mintos. This Agreement and agreements concluded on the Platform may be referred to on the Platform as the “Agreement of a user of the www.mintos.com portal concluded between the User and Mintos”.
Assignee
Assignee
a User or Mintos, who has purchased a Claim from the Assignor under the Assignment Agreement.
a User or Mintos, who has purchased a Claim from the Assignor under the Assignment Agreement.
Assignment Agreement
Assignment Agreement
an assignment agreement concluded between the Creditor as the Assignor and the User as the Assignee or the Assignee as the Assignor and another party (another User or Mintos) as Assignee, and pursuant to which the Creditor (the Assignor) transfers a Claim arising from the Loan Agreement to the User (the Assignee).
an assignment agreement concluded between the Creditor as the Assignor and the User as the Assignee or the Assignee as the Assignor and another party (another User or Mintos) as Assignee, and pursuant to which the Creditor (the Assignor) transfers a Claim arising from the Loan Agreement to the User (the Assignee).
Assignor
Assignor
a Creditor (Loan Originator or User), who, pursuant to the Assignment Agreement, assigns the Claim to another User or Mintos (the Assignee).
a Creditor (Loan Originator or User), who, pursuant to the Assignment Agreement, assigns the Claim to another User or Mintos (the Assignee).
Auto Invest
a tool for automated purchases of the Claims on the Platform, functioning according to the User’s selected settings and used by the User to purchase the Claims on his/her own behalf in accordance with the selected settings.
Borrower
Borrower
a natural person or legal entity, wherewith the Loan Originator has concluded a Loan Agreement where the respective person is a borrower or other type of party which owes or will owe money to the Loan Originator.
a natural person or legal entity, wherewith the Loan Originator has concluded a Loan Agreement where the respective person is a borrower or other type of party which owes or will owe money to the Loan Originator.
Borrower’s Payments
Borrower’s Payments
payments executed by the Borrower for the Loan repayment, Interest, contractual penalty, late payment interest, and/or other ancillary claims arising from the Loan Agreement.
payments executed by the Borrower for the Loan repayment, Interest, contractual penalty, late payment interest, and/or other ancillary claims arising from the Loan Agreement.
Business Day
Business Day
any day, on which banks in Latvia are operating, except Saturdays, Sundays, and public holidays.
any day, on which banks in Latvia are operating, except Saturdays, Sundays, and public holidays.
Claim
Claim
a Creditor’s claim or a part thereof towards the Borrower, arising from the Loan Agreement. The Claim can consist of the Loan principal, Interest, and other ancillary claims in full or partial amount, complying with the rights of the Assignor to establish exceptions. The Claim is assigned without the contractual penalty and other ancillary claims not specified in the Assignment Agreement, as well as, without re-registration of security interest incorporated in the Collateral in the name of the Assignee (if any). Detailed amount and composition of the Claim is established in the Assignment Agreement.
a Creditor’s claim or a part thereof towards the Borrower, arising from the Loan Agreement. The Claim can consist of the Loan principal, Interest, and other ancillary claims in full or partial amount, complying with the rights of the Assignor to establish exceptions. The Claim is assigned without the contractual penalty and other ancillary claims not specified in the Assignment Agreement, as well as, without re-registration of security interest incorporated in the Collateral in the name of the Assignee (if any). Detailed amount and composition of the Claim is established in the Assignment Agreement.
Claim Amount
Claim Amount
a Loan or a part thereof, to the extent whereof the Assignor transfers a Claim to the Assignee and which, together with a mark-up or discount (if any) forms the Claim Price.
a Loan or a part thereof, to the extent whereof the Assignor transfers a Claim to the Assignee and which, together with a mark-up or discount (if any) forms the Claim Price.
Claim Application
Claim Application
a User’s application filled in on the Platform for purchase (transfer) of a single or multiple Claims selected by the User.
a User’s application filled in on the Platform for purchase (transfer) of a single or multiple Claims selected by the User.
Version: 9.0.
Date of version: 12.08.2020.
(2/14)
Claim Price
Claim Price
the price for the Claim transfer agreed upon between the Assignor and User and established in the Assignment Agreement, consisting of the Claim Amount and the discount or mark-up (if any).
the price for the Claim transfer agreed upon between the Assignor and User and established in the Assignment Agreement, consisting of the Claim Amount and the discount or mark-up (if any).
Version: 8.0
Date of version: 28.11.2019.
(2/13)
Collateral
Collateral
a Loan Originator’s pledge rights on real estate, movable property, or aggregation of property, a third party guarantee, title to a vehicle or any other legally permissible means of securing the fulfillment of the Borrower’s obligations arising from the Loan Agreement if expressly indicated among other information about the Claim on the Platform (if any). The Claim can be without Collateral. For the purposes of the Agreement, the contractual penalty, late payment interest and other ancillary claims arising from the Loan Agreement, shall not be considered as a Collateral.
a Loan Originator’s pledge rights on real estate, movable property, or aggregation of property, a third party guarantee, title to a vehicle or any other legally permissible means of securing the fulfillment of the Borrower’s obligations arising from the Loan Agreement if expressly indicated among other information about the Claim on the Platform (if any). The Claim can be without Collateral. For the purposes of the Agreement, the contractual penalty, late payment interest and other ancillary claims arising from the Loan Agreement, shall not be considered as a Collateral.
Creditor
Creditor
Loan Originator, User or Mintos, who owns a Claim towards the Borrower.
Loan Originator, User or Mintos, who owns a Claim towards the Borrower.
Invest & Access
Custom Automated Strategy
a tool for automated purchases of Claims on the Platform, functioning according to this Agreement and the User’s selected settings, and which is used by the User to purchase and sell Claims on his/her own behalf in accordance with the selected settings. Certain settings of Invest & Access tool that are selected by the User if the Invest & Access tool is activated are predefined.
the User’s own defined investing strategy, which settings on Mintos Platform the User fully defines itself and for itself only, and that are used by the User to purchase the Claims on its behalf in accordance with the selected settings.
Interest
Interest
remuneration for the use of the Loan, calculated pursuant to the Loan Agreement and paid by the Borrower.
remuneration for the use of the Loan, calculated pursuant to the Loan Agreement and paid by the Borrower.
Loan
Loan
the principal amount of the loan issued to the Borrower in compliance with the Loan Agreement and yet not repaid or a part thereof, which, pursuant to the Assignment Agreement shall be repaid by the Borrower to the Loan Originator, and which Mintos transfers to the Assignee after it is received from the Loan Originator.
the principal amount of the loan issued to the Borrower in compliance with the Loan Agreement and yet not repaid or a part thereof, which, pursuant to the Assignment Agreement shall be repaid by the Borrower to the Loan Originator, and which Mintos transfers to the Assignee after it is received from the Loan Originator.
Loan Agreement
Loan Agreement
a loan, lease, credit agreement or a financial arrangement of different nature concluded between the Loan Originator and the Borrower.
a loan, lease, credit agreement or a financial arrangement of different nature concluded between the Loan Originator and the Borrower.
Loan Originator
Loan Originator
a lending company which is the Creditor, who, in compliance with the co-operation agreement concluded between the Creditor and Mintos, has authorized Mintos to transfer the Loan Originator’s Claims towards the Borrower, by using the Platform, and on behalf of the Creditor, to take other steps prescribed in the Agreement and in the Assignment Agreement.
a lending company which is the Creditor, who, in compliance with the co-operation agreement concluded between the Creditor and Mintos, has authorized Mintos to transfer the Loan Originator’s Claims towards the Borrower, by using the Platform, and on behalf of the Creditor, to take other steps prescribed in the Agreement and in the Assignment Agreement.
Management of Claim
Management of Claim
The actions that the Loan Originator, Mintos or other party are permitted to take, according to the Assignment Agreement or other agreement concluded with the Assignee, as the fiduciary of the Assignee with respect to the Claim. Management of the Claim may be referred to as servicing of the Claim in some Assignment Agreements and other agreements.
The actions that the Loan Originator, Mintos or other party are permitted to take, according to the Assignment Agreement or other agreement concluded with the Assignee, as the fiduciary of the Assignee with respect to the Claim. Management of the Claim may be referred to as servicing of the Claim in some Assignment Agreements and other agreements.
Minimum Claim Amount
Minimum Claim Amount
the minimum amount of a single Claim as established by Mintos and indicated on the Platform, excluding any mark-ups or discounts, for which a User can purchase a single Claim. The amount of the Claim, along with mark-ups and discounts (if any) form the Claim Price. The Minimum Claim Amount is not constant for all Claims and it may differ for different Claims, as well as the Minimum Claim Amount when it is purchased from the Loan Originator may differ when that Claim is being sold by one User to another User or to Mintos.
the minimum amount of a single Claim as established by Mintos and indicated on the Platform, excluding any mark-ups or discounts, for which a User can purchase a single Claim. The amount of the Claim, along with mark-ups and discounts (if any) form the Claim Price. The Minimum Claim Amount is not constant for all Claims and it may differ for different Claims, as well as the Minimum Claim Amount when it is purchased from the Loan Originator may differ when that Claim is being sold by one User to another User or to Mintos.
Mintos
Mintos
AS Mintos Marketplace, a joint stock company registered and existing under the laws of the Republic of Latvia, uniform registration No. 40103903643, who maintains and administers the Platform.
AS Mintos Marketplace, a joint stock company registered and existing under the laws of the Republic of Latvia, uniform registration No. 40103903643, who maintains and administers the Platform.
Mintos Account/-s
Mintos Account/-s
Mintos bank account/-s, account/-s opened with payment institutions or electronic money institutions indicated on the Platform, to which, pursuant to the present Terms and Conditions, the User transfers funds to add them to the User’s Virtual Account and which is held separate from other property of Mintos.
Mintos bank account/-s, account/-s opened with payment institutions or electronic money institutions indicated on the Platform, to which, pursuant to the present Terms and Conditions, the User transfers funds to add them to the User’s Virtual Account and which is held separate from other property of Mintos.
Mobile App software application created and owned by Mintos and designed to run on a smartphone device to access the Platform. Downloading Mintos software application is free and could be downloaded and installed to the smartphone device only from Apple Store and Google Play websites.
Mintos Strategies
investment strategies on Mintos Platform that are developed by Mintos for all pool of investors, not only one or a few specific investors, and that have settings that are defined by Mintos and which the Investors may use for purposes of purchase as well as sale of Claims on the Platform by activating them on the Platform. Activation of a Mintos Strategy is hereunder deemed to be an instruction of the Investor to execute on in its name and on its behalf transactions of purchase and sale of Claims in line with the settings of the respective activated Mintos Strategy while it remains activated.
Parties
Parties
the User and Mintos.
the User and Mintos.
Platform or Portal
Platform or Portal
sites created and serviced by Mintos, merged under the domain name www.mintos.com and allowing the Users to use various services offered by Mintos and operating within the scope of this site.
sites created and serviced by Mintos, merged under the domain name www.mintos.com, and Mobile Apps that allow the Users to use various services offered by Mintos and operating within the scope of this site. The Users are informed that Mintos Mobile Apps may provide a limited range of services changing their availability time to time at Mintos sole discretion.
Price List
Price List
the effective price list of Mintos services published in the Platform, which is an integral part of the Agreement.
the effective price list of Mintos services published in the Platform, which is an integral part of the Agreement.
Privacy Policy
Privacy Policy
the privacy policy of Mintos available on the Platform.
the privacy policy of Mintos available on the Platform.
Registration Application
Registration Application
an application prepared by the User on the Platform in compliance with Section 2 of the Terms and Conditions for the registration on the Platform and for the use of the offered services in compliance with the Terms and Conditions.
an application prepared by the User on the Platform in compliance with Section 2 of the Terms and Conditions for the registration on the Platform and for the use of the offered services in compliance with the Terms and Conditions.
Service Fee
Service Fee
a fee indicated on the Price List paid by the User to Mintos for processing Claims in compliance with the provisions of the Agreement and/or the Assignment Agreement or any fee indicated on the Price List for other services provided by Mintos on Platform.
a fee indicated on the Price List paid by the User to Mintos for processing Claims in compliance with the provisions of the Agreement and/or the Assignment Agreement or any fee indicated on the Price List for other services provided by Mintos on Platform.
Summary
Summary
a summary automatically created on the Platform regarding the User’s selected Claims and the User’s indicated sums, for which the User wishes to purchase Claims.
a summary automatically created on the Platform regarding the User’s selected Claims and the User’s indicated sums, for which the User wishes to purchase Claims.
Strategy
Custom Automated Strategy or Mintos Strategy, as the case may be.
Terms and Conditions
Terms and Conditions
the present terms and conditions of Mintos Platform user agreement, applicable to all User’s agreements and transactions entered into by the User via the Platform.
the present terms and conditions of Mintos Platform user agreement, applicable to all User’s agreements and transactions entered into by the User via the Platform.
Investor or User
Investor or User
a person registered on the Platform as its user in capacity of an investor as prescribed by this Agreement.
a person registered on the Platform as its user in capacity of an investor as prescribed by this Agreement.
Version: 9.0.
Date of version: 12.08.2020.
(3/14)
Investor’s Bank Account or User's Bank Account
Investor’s Bank Account or User's Bank Account
an account opened in the name of the Investor in a credit institution, payment institution or electronic money institution, subject to the provisions of Law On the Prevention of Money Laundering and Terrorism Financing of the Republic of Latvia or the requirements arising from the European Union laws concerning the prevention of money laundering and terrorism financing.
an account opened in the name of the Investor in a credit institution, payment institution or electronic money institution, subject to the provisions of Law On the Prevention of Money Laundering and Terrorism Financing of the Republic of Latvia or the requirements arising from the European Union laws concerning the prevention of money laundering and terrorism financing.
Investor's Account Number or Portal-ID Number
Investor's Account Number or Portal-ID Number
a personalized number of each User of the Platform, used by Mintos to identify the User. The User’s Platform-ID Number is also used when User transfers funds to add them to the User’s Virtual Account.
a personalized number of the User on the Platform, used by Mintos to identify the User. The User’s Platform-ID / Portal-ID Number is also used when User transfers funds to add them to the User’s Virtual Account.
User's Profile or Investor’s Profile
User's Profile or Investor’s Profile
the User’s personal site on the Platform, which is automatically created after the Investor registers on the Platform and is constantly available to the Investor after entering the Investor’s e-mail address and password or using the two factor authentication, if enabled by the User, on the Platform.
the User’s personal site on the Platform, which is automatically created after the Investor registers on the Platform and is constantly available to the Investor after entering the Investor’s e-mail address and password or using the two-factor authentication, if enabled by the User, on the Platform.
Verification Website
Verification Website
the third-party User identification and identification document verification service provider.
the third-party User identification and identification document verification service provider.
Virtual Account or Investor Account
Virtual Account or Investor Account
a separate account provided for each Investor by Mintos for recording settlements and transactions arising from the Terms and Conditions, Assignment Agreement and Loan Agreement.
a separate account provided for each Investor by Mintos for recording settlements and transactions arising from the Terms and Conditions, Assignment Agreement and Loan Agreement.
Version: 8.0
Date of version: 28.11.2019.
(3/13)
1.2. Construction:
1.2. Construction:
1.2.1. Unless a contrary indication appears, a reference in this Agreement to:
1.2.1. Unless a contrary indication appears, a reference in this Agreement to:
1.2.1.1. Mintos, the User, the Investor, the Assignee, the Assignor, the Creditor, the Loan Originator, any "Party", or any other person shall be construed so as to include its successors in title, permitted assigns and permitted transferees to, or of, its rights and/or obligations under this Agreement;
1.2.1.1. Mintos, the User, the Investor, the Assignee, the Assignor, the Creditor, the Loan Originator, any "Party", or any other person shall be construed so as to include its successors in title, permitted assigns and permitted transferees to, or of, its rights and/or obligations under this Agreement;
1.2.1.2. a "person" includes any individual, firm, company, corporation, government, state or agency of a state or any association, trust, joint venture, consortium or partnership or other entity (whether or not having separate legal personality);
1.2.1.2. a "person" includes any individual, firm, company, corporation, government, state or agency of a state or any association, trust, joint venture, consortium or partnership or other entity (whether or not having separate legal personality);
1.2.1.3. a "regulation" includes any regulation, rule, official directive, request or guideline (whether or not having the force of law) of any governmental, intergovernmental or supranational body, agency, department or of any regulatory, self-regulatory or other authority or organisation;
1.2.1.3. a "regulation" includes any regulation, rule, official directive, request or guideline (whether or not having the force of law) of any governmental, intergovernmental or supranational body, agency, department or of any regulatory, self-regulatory or other authority or organisation;
1.2.1.4. a provision of law is a reference to that provision as amended or re-enacted; and
1.2.1.4. a provision of law is a reference to that provision as amended or re-enacted; and
1.2.1.5. a time of day is a reference to Eastern European Time (GMT +2) time.
1.2.1.5. a time of day is a reference to Eastern European Time (GMT +2) time.
1.2.2. Section and Clause headings are for ease of reference only.
1.2.2. Section and Clause headings are for ease of reference only.
2. Registration on the Platform and creation of the Investor's Profile
2. Registration on the Platform and creation of the Investor's Profile
2.1. Without prejudice to other provisions of the Agreement, all Users must be registered and have concluded the Agreement to be entitled to use the services offered on the Platform.
2.1. Without prejudice to other provisions of the Agreement, all Users must be registered and have concluded the Agreement to be entitled to use the services offered on the Platform.2.2. When submitting the Registration Application and confirming these Terms and Conditions, as well as when using the Platform and the services offered on the Platform, the User each time represents and warrants to Mintos that it meets the following requirements:
2.2. When submitting the Registration Application and confirming these Terms and Conditions, as well as when using the Platform and the services offered on the Platform, the User each time represents and warrants to Mintos that it meets the following requirements:
2.2.1. the User is the natural person or legal entity, information about which was provided during the registration;
2.2.1. the User is the natural person or legal entity, information about which was provided during the registration;
2.2.2. if the User is a natural person, the User is at least 18 years old;
2.2.2. if the User is a natural person, the User is at least 18 years old;
2.2.3. the User has a User’s Bank Account, and the User is authorized to use the funds contained therein (if any) without any limitation;
2.2.3. the User has a User’s Bank Account, and the User is authorized to use the funds contained therein (if any) without any limitation;
2.2.4. the User is not subject to any insolvency, bankruptcy, liquidation or likewise administration proceedings in any jurisdiction;
2.2.4. the User is not subject to any insolvency, bankruptcy, liquidation or likewise administration proceedings in any jurisdiction;
2.2.5. the User is not declared having limited legal capacity due to disorders of mental nature.
2.2.5. the User is not declared having limited legal capacity due to disorders of mental nature.
2.3. The User acknowledges that at the time of submitting the Registration Application and at the time of conclusion of the Agreement he/she/it has full legal capacity to act and is not under the influence of alcohol, drugs, psychoactive, toxic or other intoxicating substances.
2.3. The User acknowledges that at the time of submitting the Registration Application and at the time of conclusion of the Agreement he/she/it has full legal capacity to act and is not under the influence of alcohol, drugs, psychoactive, toxic or other intoxicating substances.
2.4. The User shall register on the Platform, by filling in a Registration Application, performing identification procedures in line with Section 3 of these Terms and Conditions, and confirming the present Terms and Conditions. After the User registration, a User’s Profile and a Virtual Account is automatically created on the Platform. Upon registration of the User on the Platform, Mintos assigns a unique User’s Platform-ID number.
2.4. The User shall register on the Platform, by filling in a Registration Application, performing identification procedures in line with Section 3 of these Terms and Conditions, and confirming the present Terms and Conditions. After the User registration, a User’s Profile and a Virtual Account is automatically created on the Platform. Upon registration of the User on the Platform, Mintos assigns a unique User’s Platform-ID number.
2.5. For the User to access and use the User’s Profile, Mintos authenticates the User by the User’s email address and password or by using the two-factor authentication, if that is enabled by the User. The User shall be entitled to change the e-mail address and password used for User’s authentication in compliance with procedures established on the Platform.
2.5. For the User to access and use the User’s Profile, Mintos authenticates the User by the User’s email address and password or by using the two-factor authentication, if that is enabled by the User. The User shall be entitled to change the e-mail address and password used for User’s authentication in compliance with procedures established on the Platform.
2.6. If the User is a legal entity then Mintos is entitled to perform identification of the representative of the User, by applying the same procedures as in the case of a User who is a natural person (an individual).
2.6. If the User is a legal entity then Mintos is entitled to perform identification of the representative of the User, by applying the same procedures as in the case of a User who is a natural person (an individual).
2.7. To conclude the Agreement, to use the services offered on the Platform, and to purchase Claims, the User must take the steps prescribed in Section 3 of the Terms and Conditions to enable Mintos to identify the User.
2.7. To conclude the Agreement, to use the services offered on the Platform, and to purchase Claims, the User must take the steps prescribed in Section 3 of the Terms and Conditions to enable Mintos to identify the User.
2.8. Mintos may refuse the registration of a new User on the Platform without giving a reason for refusal.
2.8. Mintos may refuse the registration of a new User on the Platform without giving a reason for refusal.
2.9. The User’s Profile is private, and only the owner of the User’s Profile (the User) is authorized to enter into and use it.
2.9. The User’s Profile is private, and only the owner of the User’s Profile (the User) is authorized to enter into and use it.
3. User due diligence, identification and confirmation of transactions
3. User due diligence, identification and confirmation of transactions
3.1. In order to fulfil the legal obligations under the applicable laws and regulations, before the User may use the services on the Platform and during the cooperation with the User under the Agreement, Mintos performs the due diligence of the User, which includes, but is not limited to, identification of the User, obtaining information on country of residence, citizenship and/or country of birth, asserting the beneficial owner, obtaining information on the source of funds, obtaining information on the purpose and nature of the business relationship.
3.1. In order to fulfil the legal obligations under the applicable laws and regulations, before the User may use the services on the Platform and during the cooperation with the User under the Agreement, Mintos performs the due diligence of the User, which includes, but is not limited to, identification of the User, obtaining information on country of residence, citizenship and/or country of birth, asserting the beneficial owner, obtaining information on the source of funds, obtaining information on the purpose and nature of the business relationship.
3.2. The identification of the User is conducted according to the rules of the internal control system of Mintos in one of the following ways:
3.2. The identification of the User is conducted according to the rules of the internal control system of Mintos in one of the following ways:
Version: 9.0.
Date of version: 12.08.2020.
(4/14)
3.2.1. in person, before the conclusion of the Agreement, the User fills in the User data form and produces or submits identification and other documents requested by Mintos;
3.2.1. in person, before the conclusion of the Agreement, the User fills in the User data form and produces or submits identification and other documents requested by Mintos;
3.2.2. remotely via Verification Website, where the User submits a photo and video of the User’s face and identification document. In such case Mintos identifies the User, by using the information received from the Verification Website;
3.2.2. remotely via Verification Website, where the User submits a photo and video of the User’s face and identification document. In such case Mintos identifies the User, by using the information received from the Verification Website;
3.3. In order to properly perform the due diligence of the User, Mintos may, at its sole discretion, at any time, request that the User submits additional documents or information on the User’s identity, origin of funds, beneficial owners, and any other information about the User that Mintos finds necessary for the due diligence of the User. Mintos is entitled to unilaterally determine any additional requirements for the User identification, as well as introduce changes in the User identification process.
3.3. In order to properly perform the due diligence of the User, Mintos may, at its sole discretion, at any time, request that the User submits additional documents or information on the User’s identity, origin of funds, beneficial owners, and any other information about the User that Mintos finds necessary for the due diligence of the User. Mintos is entitled to unilaterally determine any additional requirements for the User identification, as well as introduce changes in the User identification process.
3.4. If the Agreement is concluded in person, the Agreement between Mintos and the User shall be deemed entered into and it shall become effective at the time when both Parties have signed it. If the Agreement is concluded remotely, the Agreement between Mintos and the User shall be deemed entered into and it shall become effective at the time, when
3.4. If the Agreement is concluded in person, the Agreement between Mintos and the User shall be deemed entered into and it shall become effective at the time when both Parties have signed it. If the Agreement is concluded remotely, the Agreement between Mintos and the User shall be deemed entered into and it shall become effective at the time, when Mintos has performed identification of the User and the User has confirmed the present Terms and Conditions on the Platform. The activation of User’s Profile on the Platform confirms the conclusion of the Agreement. The User’s Profile shall be deemed activated as from the moment the equivalent amount of electronic money has been debited in the Virtual Account of the User. The User may become acquainted with the concluded Agreement and all Assignment Agreements on the User’s Profile.
Version: 8.0
Date of version: 28.11.2019.
(4/13)
Mintos has performed identification of the User and the User has confirmed the present Terms and Conditions on the Platform. The activation of User’s Profile on the Platform confirms the conclusion of the Agreement. The User’s Profile shall be deemed activated as from the moment the equivalent amount of electronic money has been debited in the Virtual Account of the User. The User may become acquainted with the concluded Agreement and all Assignment Agreements on the User’s Profile.
3.5. A Registration Application filed in compliance with procedures established in the Terms and Conditions and transferring funds to the Mintos Account to add them to Investor’s Virtual Account confirms that the User wishes to use the Platform and the services offered therein pursuant to the Agreement provisions.
3.5. A Registration Application filed in compliance with procedures established in the Terms and Conditions and transferring funds to the Mintos Account to add them to Investor’s Virtual Account confirms that the User wishes to use the Platform and the services offered therein pursuant to the Agreement provisions.
3.6. When registering and logging into (entering) the User’s Profile on the Platform, the User must enter the User’s email address and password or use the two-factor authentication if that is enabled by the User.
3.6. When registering and logging into (entering) the User’s Profile on the Platform, the User must enter the User’s email address and password or use the two-factor authentication if that is enabled by the User.
3.7. The User’s activities performed on the Platform after entering the User’s email address and password or the two factor authentication inputs shall be regarded as the User’s signature or acceptance. All payments, payment orders, instructions, applications, agreements, as well as other documents confirmed or submitted by the User on the Platform after entering the User’s email address and password or the two factor authentication inputs as prescribed on the Platform shall be binding upon the User, Mintos and the Loan Originator, if the Loan Originator is a party of the agreement.
3.7. The User’s activities performed on the Platform after entering the User’s email address and password or the two factor authentication inputs shall be regarded as the User’s signature or acceptance. All payments, payment orders, instructions, applications, agreements, as well as other documents confirmed or submitted by the User on the Platform after entering the User’s email address and password or the two factor authentication inputs as prescribed on the Platform shall be binding upon the User, Mintos and the Loan Originator, if the Loan Originator is a party of the agreement.
3.8. The User’s password is deemed confidential information that the User and Mintos undertake not to disclose and shall undertake to prevent that third parties can find it out. The User must keep the User’s password in a secure manner, as well as regularly, however not less frequently than once every 6 (six) months or at other frequency required by Mintos, change/update the password. Mintos may impose rules on how passwords may be created, like the minimum amount of symbols, that it must contain at least 1 (one) capital and 1 (one) lower case letter, and/or any other rules at it shall find reasonably necessary.
3.8. The User’s password is deemed confidential information that the User and Mintos undertake not to disclose and shall undertake to prevent that third parties can find it out. The User must keep the User’s password in a secure manner, as well as regularly, however not less frequently than once every 6 (six) months or at other frequency required by Mintos, change/update the password. Mintos may impose rules on how passwords may be created, like the minimum amount of symbols, that it must contain at least 1 (one) capital and 1 (one) lower case letter, and/or any other rules at it shall find reasonably necessary.
3.9. If the User’s password has become known or may have become known to a third party, the User must immediately inform Mintos about it in writing or over the telephone, at which time Mintos shall block access to the User’s Profile as soon as possible, until, on the grounds of the User’s application, the User is given a new User’s password and the User has given an instruction to Mintos to unblock the User’s Profile.
3.9. If the User’s password has become known or may have become known to a third party, the User must immediately inform Mintos about it in writing or over the telephone, at which time Mintos shall block access to the User’s Profile as soon as possible, until, on the grounds of the User’s application, the User is given a new User’s password and the User has given an instruction to Mintos to unblock the User’s Profile.
3.10. Access to the User’s Profile is temporarily blocked, if the User’s password is entered incorrectly 5 (five) times in a row.
3.10. Access to the User’s Profile is temporarily blocked, if the User’s password is entered incorrectly 5 (five) times in a row.
3.11. Mintos is entitled to, however is not obliged to, block access to the User’s Profile if Mintos suspects that the User’s Profile has been accessed without due authorization, including, if Mintos suspects that the User’s password has become known or may have become known to a third party, if Mintos has suspicions of the execution of illegal transactions, as well as in other cases at the discretion of Mintos, in order to ensure safety of services, inviolability, confidentiality of the User and/or other Mintos’ clients or to prevent losses that might be inflicted upon Mintos or the clients.
3.11. Mintos is entitled to, however is not obliged to, block access to the User’s Profile if Mintos suspects that the User’s Profile has been accessed without due authorization, including, if Mintos suspects that the User’s password has become known or may have become known to a third party, if Mintos has suspicions of the execution of illegal transactions, as well as in other cases at the discretion of Mintos, in order to ensure safety of services, inviolability, confidentiality of the User and/or other Mintos’ clients or to prevent losses that might be inflicted upon Mintos or the clients.
3.12. Mintos shall be entitled not to approve a transaction and/or not to execute any application or instruction given by the User and not to provide Services to the User, if:
3.12. Mintos shall be entitled not to approve a transaction and/or not to execute any application or instruction given by the User and not to provide services to the User, if:
3.12.1 the User fails to comply with the Terms and Conditions;
3.12.1 the User fails to comply with the Terms and Conditions;
3.12.2 Mintos has suspicions about the identity of the User, and Mintos has not been able to contact the User to confirm the content of the transaction;
3.12.2 Mintos has suspicions about the identity of the User, and Mintos has not been able to contact the User to confirm the content of the transaction;
3.12.3 the User’s instruction is unclear or distorted due to interruption in communication;
3.12.3 the User’s instruction is unclear or distorted due to interruption in communication;
3.12.4 in other cases stipulated in Clause 3.11. of the Terms and Conditions.
3.12.4 in other cases stipulated in Clause 3.11. of the Terms and Conditions.
4. Virtual Account and adding funds
4. Virtual Account and adding funds
4.1. Mintos shall accept funds for adding them to the Virtual Account from the User in exchange for an equivalent amount of electronic money on the Virtual Account.
4.1. Mintos shall accept funds for adding them to the Virtual Account from the User in exchange for an equivalent amount of electronic money on the Virtual Account.
4.2. The User shall be entitled to add funds to the Virtual Account only on his/her/its own name, by wiring the funds from the User’s Bank Account to Mintos Account.
4.2. The User shall be entitled to add funds to the Virtual Account only on his/her/its own name, by wiring the funds from the User’s Bank Account to Mintos Account.
4.3. When adding funds to the Virtual Account, the User must indicate the User’s Portal-ID Number indicated in the User’s Profile as the purpose of payment. If the User makes a payment without indicating the User’s Portal-ID Number, then Mintos shall be entitled to consider such payment as non-executed before it is identified.
4.3. When adding funds to the Virtual Account, the User must indicate the User’s Portal-ID Number indicated in the User’s Profile as the purpose of payment. If the User makes a payment without indicating the User’s Portal-ID Number, then Mintos shall be entitled to consider such payment as non-executed before it is identified.
4.4. Funds transferred by the User for adding funds to the Virtual Account pursuant to the present Terms and Conditions shall be kept on any Mintos Account and Mintos shall ensure that they are segregated from Mintos own funds, and the funds of the User kept on a Mintos Account shall be transferred to third parties or withheld by Mintos in the manner prescribed in this Agreement and/or agreements concluded with the User. No interest accrues or is paid to the User for the User’s funds kept on the Mintos Account.
4.4. Funds transferred by the User for adding funds to the Virtual Account pursuant to the present Terms and Conditions shall be kept on any Mintos Account and Mintos shall ensure that they are segregated from Mintos own funds, and the funds of the User kept on a Mintos Account shall be transferred to third parties or withheld by Mintos in the manner prescribed in this Agreement and/or agreements concluded with the User. No interest accrues or is paid to the User for the User’s funds kept on the Mintos Account.
4.5. Mintos is entitled to use the funds received from the User for adding of funds to the Virtual Account only pursuant to the provisions of the Agreement and the Assignment Agreement.
4.5. Mintos is entitled to use the funds received from the User for adding of funds to the Virtual Account only pursuant to the provisions of the Agreement and the Assignment Agreement.
Version: 9.0.
Date of version: 12.08.2020.
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4.6. The funds transferred by the User to Mintos in compliance with the present Terms and Conditions shall be regarded as funds necessary for conducting of transactions in the meaning of Section 2307 of the Civil Law of the Republic of Latvia. The relevant amount of money in bank, in essence, is a claim (towards the bank) that Mintos has acquired on behalf of and for the User only to perform the task assigned to the authorized person. Accordingly, the respective funds are segregated from the Mintos own funds and shall not appear on the financial statements of Mintos as its own funds or as creditors’ claims. The User hereby acknowledges that, when transferring the funds to the Mintos Account for the purposes of adding them to the Virtual Account, he/she/it shall not be transferring those funds to form a part of Mintos own funds, but instead he/she/it shall retain title over those funds and Mintos shall act only as authorized representative of the User with respect to them.
4.6. The funds transferred by the User to Mintos in compliance with the present Terms and Conditions shall be regarded as funds necessary for conducting of transactions in the meaning of Section 2307 of the Civil Law of the Republic of Latvia. The relevant amount of money in bank, in essence, is a claim (towards the bank) that Mintos has acquired on behalf of and for the User only to perform the task assigned to the authorized person. Accordingly, the respective funds are segregated from the Mintos own funds and shall not appear on the financial statements of Mintos as its own funds or as creditors’ claims. The User hereby acknowledges that, when transferring the funds to the Mintos Account for the purposes of adding them to the Virtual Account, he/she/it shall not be transferring those funds to form a part of Mintos own funds, but instead he/she/it shall retain title over those funds and Mintos shall act only as authorized representative of the User with respect to them.
4.7. The User shall transfer funds to the Mintos Account to add funds the Virtual Account in the currencies, which are indicated on the Platform and which Mintos is entitled to unilaterally change without any prior notice to the User at any time at its sole discretion. If the User is making a payment in a currency other than that accepted by Mintos on the account it received the payment, then Mintos may, at its sole discretion, exchange the relevant amount to the respective currency
4.7. The User shall transfer funds to the Mintos Account to add funds the Virtual Account in the currencies, which are indicated on the Platform and which Mintos is entitled to unilaterally change without any prior notice to the User at any time at its sole discretion. If the User is making a payment in a currency other than that accepted by Mintos on the account it received the payment, then Mintos may, at its sole discretion, exchange the relevant amount to the respective currency accepted by Mintos on the account it received the funds according to an exchange rate established by a financial institution at its choice or by the European Central Bank on the day of receiving the payment. Any costs related to money deposits and currency exchange by the funds deposited by the User shall be borne by the User.
Version: 8.0
Date of version: 28.11.2019.
(5/13)
accepted by Mintos on the account it received the funds according to an exchange rate established by a financial institution at its choice or by the Bank of Latvia on the day of receiving the payment. Any costs related to money deposits and currency exchange by the funds deposited by the User shall be borne by the User.
Mintos may, but is not obliged to, offer on the Platform an opportunity for the Users to exchange funds on the Virtual Account that are in one currency to funds in another currency that Mintos allows to be used on the Virtual Accounts. Mintos may offer such functionality for all or certain currencies of its choice. Such conversions shall be performed at the applicable currency exchange rate which is then current according to the information on website https://www.xe.com. Mintos shall charge the Users Service Fee for the currency exchange.
Mintos may, but is not obliged to, offer on the Platform an opportunity for the Users to exchange funds on the Virtual Account that are in one currency to funds in another currency that Mintos allows to be used on the Virtual Accounts. Mintos may offer such functionality for all or certain currencies of its choice. Such conversions shall be performed at the applicable currency exchange rate which is then current according to the information on website https://www.xe.com. Mintos shall charge the Users Service Fee for the currency exchange.
4.8. If the User has owned no Claims for more than 12 (twelve) consecutive months, Mintos shall be entitled to close the Virtual Account. If the Virtual Account has a positive balance of funds, then, starting with the 13th (thirteenth) month, Mintos shall be entitled to collect a monthly Virtual Account service commission fee (if any) from the Virtual Account in the amount indicated in the Price List, and the Virtual Account may be closed, once the balance of the Virtual Account has reached 0 (zero) in EUR (euro) and any currencies permitted as the currencies of the Virtual Account.
4.8. If the User has owned no Claims for more than 12 (twelve) consecutive months, Mintos shall be entitled to close the Virtual Account. If the Virtual Account has a positive balance of funds, then
4.9. Mintos shall provide a statement to the User about the transactions performed on the Virtual Account. Statements are available on the User’s Profile.
4.10. The User shall be entitled to request, at any time, that Mintos disburses the funds on the Virtual Account to the User’s Bank Account, from which the User previously has made transfers to the Mintos Account. Mintos pays the funds standing on the Virtual Account to the User on the grounds of an application filed by the User on the User’s Profile, by wiring the funds in the amount mentioned in the User’s application to the User’s Ban
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