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Simple setup & repayment process
From 0.8% per month
Get a business loan to help give you quick access to funding
Get an advance against money you're owed from customers, without having to wait out lengthy payment terms
Register and submit your loan application with a few simple steps.
Our team will perform credit review and provide quick approval.
Upon acceptance, approved loan amount with deduction of transaction fee will be disbursed to you immediately.
Make your repayment using your preferred methods (cheque/ internet banking/ etc).
1.1. For the purpose of these T&Cs, the terms defined in this Clause, and elsewhere in these T&Cs, will have the following meanings:
1.1.1 Business Days means a day (other than a Saturday, Sunday, or gazetted public holiday in Kuala Lumpur) when commercial banks are open for business in Kuala Lumpur, Malaysia;
1.1.2 CCRIS means the Central Credit Reference Information System maintained by Bank Negara Malaysia;
1.1.3 CMSA means the Capital Markets and Services Act 2007 (or that Act as amended from time to time);
1.1.4 Facility means a sum of money that has been advanced by Investor/s to an Issuer through the use of the Funding Provider platform and includes funding raised from issuance by an Issuer of Investment Notes;
1.1.5 Funding Provider Trust Account means an account in which an Investor will be required to place the principal amount;
1.1.6 Investment Note means any contract or document evidencing a monetary loan offered on or through an electronic platform, where an investor expects a financial return, but does not include:
1.1.6.1 Any right, option or interest in respect thereof;
1.1.6.2 A cheque, banker's draft or any other bill of exchange or a letter of credit;
1.1.6.3 A banknote, guarantee or an insurance policy; or
1.1.6.4 A statement, passbook or other document showing any balance in a current, deposit or savings account;
1.1.7 Investor means a corporate, institution or individual that will fund the facility to an Issuer;
1.1.8 Issuer means a Malaysian registered sole proprietorship, Malaysian registered partnership, Malaysian incorporated limited liability partnership, Malaysian private limited or unlisted public company that is seeking a facility via Funding Provider’ platform;
1.1.9 Issuer Lead means any Issuer seeking financing and, for that purpose, is referred by Cloudaron to Funding Provider for submission of loan application and the requested documents or information thereof for, among others, credit assessment and/or know-your-Issuer purposes, via Funding Provider’ Platform so as to determine its eligibility to obtain and benefit from the Facility by prior execution of and entry into the Investment Note.
1.1.10 Law means all applicable laws, rules, regulations, constitution, rulings, interpretations, customs, usages, protocols or directives of any governmental bodies, public officials and/or self-regulatory organisations of Malaysia including any verdicts or awards of any judicial or arbitral bodies;
1.1.11 Funding Provider mmeans Modalku Ventures Sdn. Bhd. (Company No: 1190266-X), a company duly incorporated in Malaysia under the Companies Act 2016 and having its business office at Unit 20-11, Tower A, Vertical Business Suite Ave 3, Bangsar South, No. 8 Jalan Kerinchi, 59200, Kuala Lumpur whose platform is to be used for loan crowdfunding and the proceeds of which are to be distributed to the approved Issuer subject to the terms and conditions of the Investment Note.
1.1.12 Cloudaron means Cloudaron Group Berhad (Company No: 1230681-M), a company, duly incorporated in Malaysia under the Companies Act 2016 and having its business office at No. 2-1, Jalan Sri Hartamas 8, Sri Hartamas, 50480 Kuala Lumpur Wilayah Persekutuan; and
1.1.13 Officer, in relation to Funding Provider means any director, commissioner, officer and/or employee of Funding Provider; and
1.1.14 T&C means these Terms and Conditions, as may be revised, amended or supplemented from time to time in the sole and absolute discretion of Funding Provider, which expression shall where the context so admits, include any one of them.
2.1 If there is any inconsistency between the provisions of these T&Cs and any agreement entered into by Funding Provider, the agreement shall prevail.
2.2 In these T&Cs, any reference to any legal entity or individual person includes, where appropriate, a reference to its authorised agents, delegates, successors or nominees. Expressions in the singular form include the plural and vice versa.
2.3 No rule of law (or interpretation to the effect) that an ambiguity in a document is to be construed against the party drafting or preparing such document shall apply in respect of these T&Cs.
2.4 Any reference to any law, statute or regulation or enactment shall include references to any statutory modification or re-enactment thereof, or to any regulation or order made under such law, statute or enactment (or under such a modification or re-enactment).
2.5 The headings used in these T&Cs are for convenience of reference only and are not to affect the construction of, or to be taken into consideration in, interpreting these T&Cs.
3.1 These T&Cs set out the T&Cs under which Modalku Ventures Sdn Bhd (Company No: 1190266-X) (“Funding Provider”) will provide the services (“Services”) to you on www.mysmeplus.com (the “Website”). You agree that Funding Provider shall have sole and absolute discretion to determine whether the Services are to be provided by Funding Provider, and Funding Provider may refuse to provide any Services without giving any reason or incurring any liability to you as a result.
3.2 Funding Provider’ provision of Services shall be subject at all times to the Law and these T&Cs, and Funding Provider will not be liable as a result of any actions taken by any party to or any consequences suffered by any party due to non-compliance with the Law and these T&Cs.
3.3 Unless otherwise specified, the Services provided by Funding Provider may involve arranging for a Loan, or such other services as Funding Provider may introduce from time to time.
4.1 You understand, acknowledge and agree that Funding Provider does not and will not:
4.1.1 take a deposit
4.1.2 take capital risk
4.1.3 take a side in a lending agreement
4.1.4 engage in activities regulated under the CMSA (except as a Recognized Market Operator for P2P Financing);
4.1.5 provide credit rating services, or
4.1.6 provide custodial services
4.2 You understand, acknowledge and agree that Funding Provider’ role is merely administrative and mechanical in nature in arranging for the Issuer to enter into a Facility with Investors and as such Funding Provider is not regulated by laws regulating the business of and does not carry out any activities within the ambit of or relating to moneylending, financing business and the taking of deposits in the course of carrying on a deposit-taking business.Any decision of Funding Provider in respect of approval or rejection of financing or loan application of the Issuer Lead is irrefutable and final unless otherwise decided by Funding Provider in its sole discretion.
4.3 You understand, acknowledge and agree that Funding Provider does not and will not assume any advisory, fiduciary or similar other duties or act as an investment adviser to you. You understand, acknowledge and agree that you have taken, or will take, the necessary independent legal, tax, financial or other advice before Funding Provider provides Services to you.
You hereby unconditionally agree that Funding Provider may (in good faith and with due observance of the Law) receive, collect, retain, store, process, disclose, access, review and/or use personal data, information or document (including sensitive personal data) about you, as required for or in relation to (in the sole discretion of Funding Provider), among others, (i) the provision of services of Funding Provider or the course of its day-to-day business, (ii) credit assessment or internal review in respect of the Facility; (iii) execution or implementation of the Investment Note and its associated documents or arrangements; (iv) enforcement of Funding Provider’ rights under the Investment Note including collection of any outstanding financial obligations thereunder; (v) compliance with the Law and/or these T&Cs, whether obtained from you and/or from other sources or authorized partners, agents or representatives of Funding Provider in the forms of among others, without limitation, channeling, referral or other partnership mechanisms or cooperation arrangements, in accordance with the Personal Data Protection Act 2010. To the extent that you: (i) remain a party to the Investment Note; (b) are still a user or beneficiary of Funding Provider services or products; and/or (c) have any outstanding contractual or statutory obligations or financial liabilities to Funding Provider, or that Funding Provider has remaining rights or privileges claimable by it or enforceable against you, then yYou further irrevocably acknowledge and agree to the Privacy Notice as published on Funding Provider’ website.
6.1 Upon receipt of an application for Services, Funding Provider’ credit underwriters will conduct due diligence on the Issuer. During this process, Funding Provider may contact any relevant authorities, private companies, or individuals to ascertain, verify and confirm relevant information about the Issuer, including (but not limited to) its legal or credit history (including credit rating agency and CCRIS checks). The Issuer hereby unconditionally gives Funding Provider or its proxies or representatives to do so. The Issuer and each of its related parties (inclusive but not limited to its directors, partners, shareholders, employees, representatives, agents, beneficial owners, guarantors and authorised signatories of the Issuer) also hereby provide their respective consent for credit reporting agencies to obtain and process their respective credit information for Funding Provider as per the Credit Reporting Agencies Act 2010 (as may be amended from time to time).
6.2 Unless Funding Provider is required by Law, or has received prior written permission from the Issuer, Funding Provider will not reveal or disclose documents provided by the Issuer to any third party.
6.3 Upon Funding Provider’ satisfaction of the due diligence results, Funding Provider will inform the Issuer of the proposed terms and conditions of the Services via e-mail.
7.1 On the basis that the Issuer:
7.1.1 hereby agrees to unconditionally comply with, and accepts, the terms and conditions of the Services and these T&Cs; and
7.1.2 hereby confirms that it has not applied to any other peer-to-peer platform for funding for similar purposes,
the Issuer may submit a request for facility application, which will indicate the Required Sum (the “Facility Request”). For the avoidance of doubt, the submission of a Facility Request is deemed to be affirmative consent by the Issuer to the provisions set out in sub-Clauses (a) and (b) above.
7.2 The Facility Request does not constitute an agreement by anyone to extend funding to the Issuer. It is only a request for a commit of funds to a Facility. For the avoidance of doubt, the Facility Request is not an offer; it constitutes an invitation to treat and therefore none of the parties shall be deemed, by any means whatsoever, to be bound to any commitment, agreement or arrangement whatsoever without their express consent.
7.3 The maximum facility amount that can be granted to the Issuer is the amount in the Facility Request and the minimum Facility amount that can be granted shall be eighty percent (80%) of the amount in the Facility Request.
7.4 Upon the Issuer’s submission of the Facility Request, and subject to approval of the same, the Issuer agrees to enter into relevant agreements and any related documents for the Facility, if any, within the timeframe stipulated by Funding Provider in its sole discretion. The Issuer agrees that failure to enter into the relevant agreement or any related documents on its part within such timeframe or at all obligates the Issuer to pay to Funding Provider, a sum amounting to such proportion of the facility amount as Funding Provider may determine in its absolute discretion, as is required to indemnify Funding Provider for all costs, expenses and fees paid and expended by Funding Provider in, inter alia, processing the Issuer's Facility Request, conducting credit checks, and making other arrangements.
7.5 These T&Cs shall constitute an integral and inseparable part of the Investment Note and the implementation of the Investment Note shall be carried out in a way that it will not hinder the performance of your obligations or enforcement of Funding Provider’ rights under the Investment Note. Any violation of or non-compliance with any provisions of these T&Cs shall constitute a breach of the Investment Note.
8.1 Repayment of the Facility, with interest, shall be payable on a periodic basis upon terms to be agreed between the Investors and the Issuer in the facility documentation.
8.2 Unless otherwise agreed in the Investment Note and to the extent permitted by the Law, where the Issuer fails to repay any debts or installments or settle any financial obligations on the scheduled date, Funding Provider reserves the right to declare it as an event of default (or otherwise provide a written warning to set out a specific day where an event of default will be deemed to occur if the Issuer fails to repay or settle the aforesaid liabilities within a certain period) and, therefore, Funding Provider on behalf of the Investors shall be entitled to make a demand for the payment or settlement of entire outstanding Facility. After occurrence of the event of default, the Funding Provider will attempt to restructure the Issuer’s Facility repayment scheme and may institute legal proceedings to recover the entire outstanding amount of the Facility
8.3 The Issuer is aware of, and agrees to pay all of, the relevant arrangement, miscellaneous fees to Funding Provider and/or any other relevant parties for arranging and papering of the facility and the relevant agreement. In addition, the Issuer agrees to pay for all penalty fees, handling fees for late payments, collection fees and any other fees due to Funding Provider as a result of activities Funding Provider undertakes as part of the Services from time to time.
Funding Provider may from time to time modify the Issuer’s data (“Modifications”) stored in the Websites database. This may include, but is not limited to, updating the Issuer’s information, and uploading any additional documents pertaining to the Issuer’s data. The Issuer will be given fourteen (14) calendar days’ notice (the “Notice Period”) to approve or reject the Modifications. The Issuer shall be deemed to irrevocably and unconditionally consent to the Modifications if no response is given to Funding Provider within the Notice Period.
The Issuer hereby gives irrevocable and unconditionally permit to provide Funding Provider, upon its request, to obtain information, data or documents pertaining to the Issuer and its account with, made or operated in the platform of Cloudaron (“Requested Data”). For that purpose, the Issuer also irrevocably and unconditionally authorizes and permits Cloudaron to handover and/or disclose the Requested Data to Funding Provider upon its request without having to either obtain prior approval or comply with any formality or procedure or to give compensation or benefit to the Issuer in any forms whatsoever in connection with the aforesaid handover or disclosure of the Requested Data.
All data, information or documents submitted, disclosed or made accessible by you on or via the Platform during the registration, and in the use of any services in, and/or in the course of transactions via the Platform, may be transferred, assigned or disclosed to and collected, stored and used by Funding Societies, as a loan service partner of Cloudaron and provider of financing services available via the Platform ("Data Transfer"), in respect of the provision of loans or financing to you.
For that purpose:
a. You are aware of and will not contest nor reject the implementation of Data Transfer that may happen or be carried out from time to time by Cloudaron and/or Funding Societies as long as you: (i) keep on using or benefiting from the services of Cloudaron and/or Funding Societies; (ii) remain a registered user on the Platform ; (iii) bound to the relevant loan arrangements with Funding Societies and the related lenders; and (iv) have any outstanding, contingent or due and payable liability to Funding Societies and/or the relevant lenders or parties related to the financing and loan services from Funding Societies.
b. You unconditionally accept the implementation of Data Transfer without requiring Funding Societies and/or its related parties to compensate, pay nor provide you with any privileges and/or benefits in any forms whatsoever; and/or
c. The implementation of Data Transfer would not require any prior adherence to or observation of any formality, mechanism or procedure nor approval or consent from any other third party and therefore it substantiates proper compliance of Cloudaron and/or Funding Societies with the Personal Data Protection Act 2010 (PDPA) including its amendments from time to time including any other related laws and/or regulations on data secrecy or privacy.
11.1 The Issuer represents and warrants to Funding Provider that:
11.1.1 it is [a Malaysian registered sole proprietorship]/[Malaysian registered partnership]/[limited liability partnership]/[private limited company]/[unlisted public company] incorporated under Malaysian laws;
11.1.2 it is solvent, and there are no reasonable grounds to suspect that it is unable to pay its debts as and when they become due and payable;
11.1.3 it has full power and the legal capacity to enter into and be bound by, perform and deliver these T&Cs and to perform its obligations under these T&Cs and the relevant agreements. Furthermore, the Issuer has taken all necessary actions to authorise its entry into, performance and delivery of any obligations created under these T&Cs and the relevant agreements;
11.1.4 the obligations assumed by the Issuer in these T&Cs and the relevant agreements constitute the legal, valid, binding, and enforceable obligations of the Issuer;
11.1.5 all information provided by the Issuer to Funding Provider does not contain any false or misleading statements, nor any material omission, and is true and accurate in all material respects on and as at the date it was provided;
11.1.6 it has, and will maintain in force all required licenses, authorizations or approvals necessary to perform its obligations under these T&Cs and the relevant agreements; and
11.1.7 there is no action, suit, or proceeding at law, equity, or before any court, tribunal, governmental body, agency or official or any arbitrator (whether pending or threatened) or non-compliance with or violation of the Law or infringement of any rights of any third party committed by or which involves the Issuer that is likely to affect the legality, validity or enforceability of these T&Cs or the relevant agreements, or affect the Issuer’s ability to perform its obligations hereunder.
11.2 The Issuer undertakes that it shall at all times and by any means:
11.2.1 comply with the Law, direction, orders and decrees of any governmental authorities applicable to the performance of their obligations under these T&Cs and the relevant agreements.
11.2.2 not undertake any activity which is illegal under the Law to which it is subject or the Law relating to its business practices of the places of incorporation, or any other country in which it is operating or will run its business.
11.2.3 procure that its directors, commissioners, proxies, representatives, officers and employees (“Associated Persons”) shall adhere to, and comply with, the terms and conditions of these T&Cs and the relevant agreements as if said Associated Persons were a party to them.
12.1 The Issuer irrevocably authorises Funding Provider and its appointed proxies or representatives to:
12.1.1 conduct credit checks on the Issuer;
12.1.2 obtain and verify any information about the Issuer as Funding Provider may, in its sole and absolute discretion, deem fit;
12.1.3 use all relevant sources, which Funding Provider may apply to, to provide any information which Funding Provider may require in connection with the facility;
12.1.4 disclose any information and/or data relating to the Issuer and its account(s), and/or credit cards (if any), or any other information as Funding Provider may deem necessary to:
12.1.4.1 any Investor's head office, representative and branch offices and/or any related company or associated company of the Investor, in any jurisdiction;
12.1.4.2 the head office, representative and branch offices of Funding Provider, and/or that of its related companies or associated companies in any jurisdiction;
12.1.4.3 the Securities Commission, Bank Negara Malaysia and any other government or regulatory agency or authority;
12.1.4.4 any Investor’s potential assignees or transferees (subject to the prior consent of Funding Provider) or to any person who has or may enter into contractual relations with the Issuer in relation to the facility application;
12.1.4.5 any credit bureau, including members of such credit bureau;
12.1.4.6 any other third parties, service provider, agents or business partners (including, without limitation, credit reference or evaluation agencies) wherever situated for any purpose whatsoever; and
12.1.4.7 any other person to whom disclosure is permitted or required by the Law or ordered by any governmental institutions.
13.1 The Issuer agrees to indemnify Funding Provider and its Officers against all losses, taxes, expenses, costs, legal fees, and liabilities (present, future, contingent or otherwise on any indemnity basis), which may be suffered or incurred by Funding Provider as a result of or in connection with the Issuer’s breach of and/or non-compliance with the T&Cs, the Law and/ or the relevant agreements or any steps taken by Funding Provider’ in the event of a breach of these T&Cs or the relevant agreements including any infringement of third party’s rights committed by, or which involves, the Issuer.
13.2 The Issuer shall not, and it shall ensure at all times that Funding Provider will not be involved, by any means or under any circumstance whatsoever, in any proceeding, investigation, inspection, examination, audit, dispute or conflict and negotiation with any third party which arise from or in connection with the matters as referred to in Clause 12.1 above against which Funding Provider are to be indemnified unless it expressly choose or are willing to do so.
Neither Funding Provider nor any of its Officers shall be liable or involved in contract, tort (including negligence or breach of statutory duty) or otherwise, for (i) any loss of profit, business or revenue, (ii) any costs or expenses, or any special, indirect, reputational or consequential damages of any nature whatsoever, suffered or incurred by the Issuer as a result of or in connection with the provision of the Services.
It is a fundamental term of the relationship between the parties that the Issuer will perform its obligations on time.
A failure or delay in exercising any right, power or privilege in respect of these T&Cs will not be presumed to operate as a waiver, and a single or partial exercise of any right, power or privilege will not be presumed to preclude any subsequent or further exercise of that right, power or privilege or exercise of any other right, power or privilege.
Funding Provider may at any time, give the Issuer notice of any amendment, variation, revision, supplement or any other change to these T&Cs by post, e-mail or such other means as Funding Provider shall deem fit. Changes shall take place on and from the date specified in the notice or if no such date is specified, on and from the date of such notice. Without prejudice to the foregoing, the entry into or continued entry into the Services after such change shall be deemed as the Issuer’s acceptance and agreement to the same.
18.1 These T&Cs will be governed and construed in accordance with laws of Malaysia.
18.2 With respect to any suit, action or proceedings (each, a “Proceeding”) relating to any dispute arising out of or in connection with these T&Cs, each party submits to the non-exclusive jurisdiction of the courts of Malaysia.
Effective Date
April 01, 2018
These Website Terms and Conditions govern your use of iLending.mySMEPlus.com (“Website”) and your relationship with Clouddesk (incorporated as Cloudaron Technology, Company No: 851711-U, Member of Cloudaron Group Berhad) (“Company” or “we” or “us”), whether as a guest or a registered user. The Company is authorised and regulated by the Securities Commission Malaysia to operate a peer-to-peer financing platform. The Company provides its peer-to-peer financing on the Website and/or such other services as the Company may introduce from time to time. Please read and understand these Website Terms and Conditions as they apply to your access and use of the Website, and any information, documents, text, graphics, photos and/or other materials uploaded, downloaded or appearing on the Website.
Your access to and use of the Website signifies your acceptance of these Website Terms and Conditions. If you do not agree to these Website Terms and Conditions, please do not register for or use the Website. If you have any questions on these Website Terms and Conditions, please contact [email protected]
1. USE OF THE WEBSITE
1.1. The Website is provided to you for your use subject to these Website Terms and Conditions. By using the Website, you agree to be bound by these Website Terms and Conditions. You are also responsible for ensuring that all persons who access the Website through your Internet connection or account are aware of these Website Terms and Conditions and other applicable terms and conditions, and that they comply with them.
1.2. We reserve the right at all times (but will not have an obligation) to remove or refuse to distribute any content on the Website, to suspend or terminate you, and to reclaim your account without any liability to us. We also reserve the right to access, read, preserve, and disclose any information as we reasonably believe is necessary to (i) satisfy any applicable law, regulation, legal process or governmental request, (ii) enforce these Website Terms and Conditions, including investigation of potential violations hereof, (iii) detect, prevent, or otherwise address fraud, money laundering, illegal activities, security or technical issues, (iv) respond to user support requests, or (v) protect the rights, property or safety of the Company, its users and the public.
1.3. We do not guarantee that the Website will be compatible with all hardware and software which you may use. We shall not be liable for damage to, or viruses or other codes that may affect, any computer or phone equipment, software, data or other property as a result of your access to or use of the Website.
2. AMENDMENTS
2.1. We may modify these Website Terms and Conditions at any time by posting the revised Website Terms and Conditions on the Website and via an announcement on the Website. Your continued use of the Website after such change has been posted shall constitute your acceptance of such revised Website Terms and Conditions. If you do not wish to accept the revised Website Terms and Conditions, you should not continue to use the Website. If you continue to use the Website after the date on which the change comes into effect, your use of the Website indicates your consent to be bound by the revised Website Terms and Conditions.
3. REGISTRATION
3.1. To register on the Website you must be over eighteen (18) years of age.
3.2. We process information about you in accordance with our Privacy Notice. By using the Website, you consent to such processing and warrant that all information submitted to us, whether via the Website or otherwise, is true, accurate, complete and is not misleading by omission or otherwise. In the event of any change to the information provided, you must inform us immediately of the same in order for us to communicate with you effectively.
4. PASSWORD AND SECURITY
4.1. When you register to use the Website, you will be asked to create a password. In order to prevent fraud, you must keep this password strictly confidential and must not disclose it or share it with anyone. If you know or suspect that someone else knows your password, you should notify us by contacting [email protected] immediately.
4.2. If the Company has reason to believe that there is likely to be a breach of security or misuse of the Website, we may require you to change your password or we may suspend your account.
5. INTELLECTUAL PROPERTY RIGHTS
5.1. The content of the Website is protected by copyright, trademarks, database rights and other intellectual property rights, as applicable. You may retrieve and display the content of the Website on a computer screen, mobile phone screen, tablet screen (or equivalent), store such content in electronic form on disk (but not any server or other storage device connected to a network), download or print copies of such content for your own use, provided you keep intact all and any copyright and proprietary notices. You may not reproduce, modify, copy or distribute or use for commercial purposes any of the materials or content on the Website without written permission from the Company.
6. PROHIBITED USE
6.1. You may not use the Website for any of the following purposes:
(a) any activities that violate these Website Terms and Conditions, any payment provider’s terms of service and/or any other relevant third party’s terms of service;
(b) disseminating any unlawful, harassing, libellous, abusive, threatening, harmful, vulgar, obscene, or otherwise objectionable material or otherwise breaching any laws;
(c) transmitting material that encourages conduct that constitutes a criminal offence, or otherwise breaches any applicable laws, regulations or code of practices;
(d) interfering with any other person’s use or enjoyment of the Website;
(e) access, tamper with, or use non-public areas of the Website, the Company’s computer systems, or the technical delivery systems of the Company’s providers;
(f) probe, scan, or test the vulnerability of any system or network or breach or circumvent any security or authentication measures;
(g) access or search or attempt to access or search the Website by any means (automated or otherwise) other than through our currently available, published interfaces that are provided by us (and only pursuant to those terms and conditions);
(h) forge any TCP/IP packet header or any part of the header information in any email or posting; or
(i) interfere with, or disrupt, (or attempt to do so), the access of any user, host or network, including, without limitation, sending a virus, trojan, worm, logic bomb or other material which is malicious or technologically harmful, overloading, flooding, spamming, mail-bombing the Website, or by scripting the creation of content in such a manner as to interfere with or create an undue burden on the Website.
6.2. In the event of any of the above in Clause 6.1, we reserve the right, at all times, to remove or refuse to distribute any of the material on the Website, to suspend or terminate you, and to reclaim your account without any liability to us.
6.3. You will be responsible for our losses and costs resulting from your breach of this Clause 6.
7. AVAILABILITY OF THE WEBSITE
7.1. Whilst we will use commercially reasonable efforts to make the Website available to you without any interruption, we do not guarantee that the Website will be fault-free. If a fault occurs with the Website, you should report it to [email protected] we will attempt to correct the fault as soon as we reasonably can.
7.2. The Website is dependent on other third party service providers, including but not limited to website domain hosts and payment providers, we do not guarantee that the Website will be available at all times or uninterrupted. As such, we will not be liable to you if for any reason the Website is unavailable at any time or for any period.
8. THE COMPANY’S RIGHT TO SUSPEND OR CANCEL YOUR ACCOUNT
8.1. We may suspend or cancel your account immediately at our reasonable discretion, or if you breach any of your obligations under these Website Terms and Conditions. We will take reasonable efforts to notify you by the email address provided by you to us of such suspension or cancellation, or to notify you at your next attempt to access your account.
8.2. You can cancel your account at any time by making a withdrawal request in writing at [email protected] so that we can guide you on the cancellation procedure accordingly.
8.3. The suspension or cancellation of your account and your right to use the Website shall not affect either party’s statutory rights or liabilities nor shall it be deemed or construed as a waiver of our rights to take any action against you for any loss and damages suffered as a result of your breach of these Website Terms and Conditions.
9. DISCLAIMERS AND EXCLUSION OF LIABILITY
9.1. The Website and its use are provided by us on an "as is, where is" and "as available" basis.
9.2. Whilst we endeavour to ensure that information and materials on the Website are correct, no warranty or representation, express or implied, is given that they are complete, accurate, up-to-date, fit for a particular purpose and, to the extent permitted by law, we do not accept any liability for any errors or omissions.
9.3. Whilst we endeavour to make the Website available 24 hours a day, we shall not be liable for any reason the Website is unavailable for any time or for any period. We make no warranty that your access to the Website will be uninterrupted, timely or error-free. Due to the nature of the Internet, this cannot be guaranteed. In addition, we may occasionally need to carry out repairs, maintenance or introduce new facilities and functions.
9.4. The Company shall in no event be liable for any loss or damages whatsoever nature and howsoever incurred or arising whether in contract, tort, negligence, strict liability or any other basis, including without limitation, direct or indirect, special, incidental, consequential or punitive damages, or loss profits or savings arising in connection with your access or use or the inability to access or use the Website (or any part thereof), reliance on the information contained in the Website, reliance on the Website and tools provided on the Website, any technical, hardware or software failure of any kind, the interruption, error, omission, delay in operation, computer viruses, or otherwise, even if the Company has been advised of the possibility of such damages or loss.
9.5. This exclusion clause shall take effect to the fullest extent permitted by law and shall apply even after you cease to access and/or use the Website.
10. INDEMNITY
10.1. You agree to defend, indemnify and hold us harmless from and against all liabilities, damages, claims, actions, costs and expenses (including legal fees), which may be suffered or incurred by us as a result of or in connection with or arising out of information you submit, post, transmit or make available through the Website, from your breach of any of these Website Terms and Conditions, your use of the Website and/or in connection thereof.
11. THIRD PARTY LINKS
11.1. As a convenience to our users, the Website includes links to other websites or material which are beyond the Company’s control. The Company is not responsible for the accuracy or availability of any content on any third party website or links that are outside of the Website.
11.2. Links to third party websites and services do not constitute an endorsement by us of such websites or services, or the information, products, advertising or other materials made available by such third parties. In addition, the Company is not liable, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with your use of such content, information, products or services available on or through such linked websites.
12. SEVERANCE
12.1. If any provision of these Website Terms and Conditions is prohibited by law or judged by a court to be unlawful, void or unenforceable, the provision shall, to the extent required, be severed from these Website Terms and Conditions and rendered ineffective as far as possible without modifying the remaining provisions, and shall not in any way affect any other circumstances of or the validity or enforcement of these Website Terms and Conditions.
13. ACKNOWLEDGMENT
You agree that you use the Website and the services available on the Website at your own risk. We do not assume any advisory, fiduciary or similar other duties or act as an investment adviser to you. You agree that you have taken, or will take, the necessary independent legal, tax, financial or other advice before we provide the services to you on the Website.
14. ELECTRONIC COMMUNICATION
You consent to receiving communication from us electronically and you agree to the Company use of electronic communication to enter into agreements and communicate with you in accordance with the Electronic Commerce Act 2006.
15. DISPUTE RESOLUTION AND APPLICABLE LAW
15.1. These Website Terms and Conditions shall be governed by and interpreted in accordance with the laws of Malaysia.
15.2. You may write to us at the following address for any communication or complaint to us at:
Email: [email protected]
15.3.If the dispute remains unresolved, the parties irrevocably submit to the non-exclusive jurisdiction of the Courts of Malaysia to settle any disputes which may arise out of or in connection with these Website Terms and Conditions.
16.1.We make no promise that materials on the Website are appropriate or available for use in locations outside of Malaysia, and accessing the Website from territories where its contents are illegal or unlawful is prohibited. If you choose to access the Website from locations outside of Malaysia, you do so on your own initiative and are responsible for compliance with local laws.
17.1.You may not transfer any of your rights under these Website Terms and Conditions to any other person. We may transfer our rights under these Website Terms and Conditions to another business where we reasonably believe your rights will not be affected.
17.2.If you breach these Website Terms and Conditions, no failure or delay by the Company to exercise any right or remedy provided under these Website Terms and Conditions shall constitute a waiver of that or any other right or remedy, nor shall it prevent or restrict the exercise of that or any other right or remedy. No single or partial exercise of such right or remedy shall prevent or restrict the further exercise of that or any other right or remedy.
17.3.The Website is owned and operated by Clouddesk Technology Sdn Bhd (Company No: 851711-U, Member of Cloudaron Group Berhad) with its address at 2-13A, Bangunan Perdagangan D7, 800 Jalan Sentul, 51000 Kuala Lumpur.
Pursuant to the statutory requirements of the Personal Data Protection Act 2010 (“PDPA”), this privacy notice for personal data (“Privacy Notice”) is issued to all registered users and guests of iLending platform under SMEPlus (incorporated as Clouddesk Technology Sdn. Bhd. (Company No: 851711-X)’s online platform (“iLending”, “we”, “us” or “our”).
Personal data that we collect about you
Personal data means any information in our possession that relates directly or indirectly to an individual to the extent that the individual can be identified from that and from other information in our possession such as your name, address, telephone numbers, NRIC No., date of birth, email address, photograph, your IP address, operating system, browser type as well as information and data generated in the ordinary course of the relationship with us which may include signatures, answers to questions intended for security verification, emergency contact numbers and call back contact details.
Purposes for which your personal data is used and disclosed
During the course of your use of our services, we are required to collect and process your personal data to process facility applications submitted by you (, either by direct submission of yourself, or via our authorized partners, agents or representatives (“Partners”) in the forms of among others, without limitation, channeling, referral or other partnership mechanisms or cooperation arrangements), make decisions relating to the arranging of facility for you, strive to maintain accurate “know your Issuer” or users or guests information, verify the identity or authority of representatives who contact us, or may be contacted by us and to carry out or respond to requests, questions, or instructions from verified representatives or other individuals pursuant to our security procedures, perform credit assessment and other background checks on you, collect outstanding payments from the Issuers, manage your account(s) with us and to send you statements, to enable us to provide our services to you, to administer and give effect to your commercial transactions with us and generally to establish a business relationship with you, to understand your needs for the services and disseminate to you news about our services that may be of interest to you, to perform research, evaluation, administrative and operational tasks (including market or customer survey, due diligence, service improvement and product development, risk management, systems development, credit rating, and training), to meet legal and regulatory requirements (including but not limited to fraud investigation and money laundering prevention), to enable us to develop and improve our services to you and to protect our interests, to administer our systems, and for all other purposes that are ancillary and incidental to our business (collectively referred to as “Permitted Purposes”).
How we collect your personal data
We may collect your personal data during our course of dealings with you through applications and other forms submitted by you through our website or otherwise, letter of offers, agreements signed by you and your access to our website, and personal data from credit bureaus and credit reporting agencies or of our Partners to which you hereby render your unconditional consent for us to receive, process and assess for, in relation to, the provision of our services or products. We may also obtain information about your general internet usage by using cookies which are stored on the hard drive of your computer. Some third parties who advertise on our website may also use cookies but we do not have access to them, or control over them. You can set your web browser to refuse cookies, but if you do then you may not be able to enjoy the full use of our website. Additionally, upon receipt of an application for our services, and if you are an Issuer, our credit underwriters may contact any relevant authorities, credit bureaus and credit reporting agencies (including CTOS and CCRIS) or individuals to ascertain, verify and/or confirm relevant information relating to (but not limited to) your legal or credit history for the purposes of conducting due diligence. Your personal data may also be collected from a variety of sources, including without limitation, during meetings, events, seminars, conferences, talks, road shows, surveys organised or sponsored by us, as well as public domain sources. These includes pursuant to any communications made from or with us.
Parties to whom your personal data may be disclosed
Your personal data will not be disclosed by us to any third party without your consent, save for disclosures to:
a. our group of companies (including the Funding Societies’ parent company, affiliates, representatives, subsidiaries, related and/or associated companies);
b. our trustees, business partners, vendors, suppliers, agents, contractors, agents, service providers, credit bureaus, credit reporting agencies, insurance companies, professional advisers, banks and/or financial institutions who provide banking, trust, remittance, administrative, mailing, telecommunications, call centres, business process, travel, visa, knowledge management, human resource, data processing, information technology, computer, payment, debt collection, credit reference checks or securities clearing or other services to us;
c. our auditors, business consultants, accountants, lawyers or other professional advisers and/or consultants as we deem necessary and appropriate;
d. to any party who undertakes to keep your personal data confidential only to the extent necessary to fulfil the relevant Permitted Purposes, or to whom we are compelled or required by law to disclose to, including disclosure to courts, tribunals, legal, regulatory, tax and other government authorities;
e. any actual or proposed assignee of Funding Societies or transferee of Funding Societies’ rights in respect of all or part of the assets or business of Funding Societies; or
f. any party giving or proposing to give a guarantee or third party security to guarantee or secure the obligations of the Issuer.
It is necessary for us to collect and process your personal data. Without your consent authorising us to process and collect your personal data, we will not be able to effectively provide our services to you, or to process your personal data in relation to the Permitted Purposes.
True, accurate and complete personal data
By providing us with your personal data, you are consenting for us to act as data user for the purposes of the PDPA and to be able to collect and process your personal data in accordance with this Privacy Notice. If you are an Issuer, you also consent for credit bureaus and credit reporting agencies to collect and process your personal data from us in accordance with this Privacy Notice. You confirm that all personal data that is provided to us is true, accurate and complete, and that none of the personal data provided is misleading or outdated. In the event of any change to your personal data, you will promptly update us.
Third party’s personal data
To the extent that you have provided (or will provide) personal data about your family members, spouse, other dependents (if you are an individual), or to the extent that you have provided (or will provide) personal data about your directors, partners, shareholders, employees, representatives, agents (if you are a corporate entity/an organisation) and/or other individuals (such as beneficial owners, payors, payees, guarantors, authorised signatories, other security providers and other natural person related to you), you confirm that you have explained (or will explain) to them that their personal data will be provided to, and processed by, us and you represent and warrant that you have obtained their consent to the processing (including disclosure and transfer) of their personal data in accordance with this Privacy Notice.
Your rights under the PDPA
It is our priority that your personal data is stored in a secured state. The duration of data storage shall be for as long as it is necessary in relation to our business and/or as permitted by the PDPA. You have a right, under the PDPA, to request access to, request for a copy of and to request a correction of the personal data and to contact us with any inquiries or complaints in respect of your personal data. Subject to our right to rely on any statutory exemptions and/or exceptions to collect, use and disclose your personal data, you have the right at any time to request us to limit the processing and use of your personal data.
Requests or queries
The abovementioned requests or queries or any queries relating to the collection and processing of personal data should be in writing or electronic mail and addressed to:
Customer Support
Address : 2-13A, Bangunan Perdagangan D7, 800 Jalan Sentul, 51000 Kuala Lumpur
Email Address : [email protected]
Amendment to this Privacy Notice
We reserve the right to update and amend this Privacy Notice from time to time. We will notify you of any amendments to this Privacy Notice via announcements on our website or other appropriate means. If we amend this Privacy Notice, the amendment will not have any retrospective effect on personal data collected before the revised Privacy Notice. For avoidance of doubt, the fact that you do use, participate in or benefit from our services shall constitute a valid and acceptable proof of your unconditional consent to or approval of the content of this Privacy Notice including the aforesaid amendment from time to time.
English version shall prevail
In accordance with Section 7(3) of the PDPA, this Privacy Notice is issued in both English and Bahasa Malaysia. In the event of any inconsistencies or discrepancies between the English version and the Bahasa Malaysia version, the English version shall prevail.
Date of issuance of this Privacy Notice: 1 April 2018