Termeni și condiții

Terms and Conditions of OCN “IUTE CREDIT” S.R.L.

Effective from 24 August 2024

1. Introduction

1.1. OCN Iute Credit SRL, registration number 1008600026223, address: Republic of Moldova, Chișinău, 182 Ștefan cel Mare Boulevard, 5th floor, email: , telephone: 022801500, represented by Director Sergiu Sobuleac (hereinafter referred to as the “Creditor”).

1.2. These General Terms and Conditions (hereinafter referred to as the “Terms”), the Price and Fee List, and the principles governing the processing of customer data, as described in the Privacy Policy, form an integral part of the contractual documentation and apply to all agreements concluded between the Creditor and the Client. They are available to all interested parties at the Creditor’s business premises and on its website.

1.3. The Creditor has the right to unilaterally amend the Terms, the Price and Fee List, and the Privacy Policy by informing Clients of the changes at least 15 (fifteen) calendar days before they enter into force.

1.4. If the Client does not agree with the amendment(s), the Client has the right to terminate the Agreement(s) by notifying the Creditor in writing or through another agreed method within the period specified in Clause 1.3, provided that all obligations arising from the Agreement(s) are fulfilled.

1.5. If the Client does not exercise the right to terminate the Agreement(s), as stipulated in Clause 1.4, the Client shall be deemed to have accepted the amendments and hereby declares that they have no further claims against the Creditor regarding the changes made to the Terms, Privacy Policy and/or Price and Fee List.

1.6. The notice period established in Clause 1.3 does not apply where an amendment is more favourable to the Client (for example, a reduction in fees) or where new services are introduced.

1.7. The Terms and all agreements concluded under them shall be governed by the laws of the Republic of Moldova.

1.8. The Client may request a copy of the applicable Terms at any time from the Creditor’s branch offices or access them on the Creditor’s website at www.iute.md.

2. Definitions

2.1. Additional Fees – All other fees for services not included in the Non-Bank Credit Agreement or Pledge Agreement that the Client has requested and the Creditor has provided. Additional services and their associated fees are listed in the Price and Fee List available on the Creditor’s website.

2.2. Agreement – A legally binding agreement between the Parties under which the Creditor agrees to grant, and the Client agrees to receive, a non-bank loan. Each such agreement comprises the generally applicable Terms, the Framework Agreement, the Price and Fee List, the provisions of the Privacy Policy, all other agreements, mutual arrangements and annexes to agreements concluded between the Creditor and the Client (including amendments and supplements), as well as each Non-Bank Credit Agreement.

2.3. Payment Schedule – A legally binding arrangement containing information on loan instalments, their due dates and payment conditions, including a breakdown of each payment showing the loan principal, interest calculated according to the interest rate, fees and additional costs.

2.4. Applicable Laws – The Civil Code, the Civil Procedure Code, the Law on Non-Bank Credit Organisations, the Law on Consumer Credit Agreements, the Law on Electronic Documents and Electronic Signatures, the Law on Consumer Protection, the Law on Personal Data Protection, the Law on the Prevention and Combating of Money Laundering and Terrorist Financing, and other applicable laws and regulations governing these matters.

2.5. Application – A request for loan approval submitted by the Client to the Creditor in writing, electronically or verbally.

2.6. APR (Annual Percentage Rate) – The total cost of the Loan, including interest, the Fee, and all other charges and costs that the Client is required to pay in connection with the Non-Bank Credit Agreement and that are or should be known to the Creditor. This includes charges for mandatory additional services related to the Non-Bank Credit Agreement, particularly insurance premiums where entering into an insurance agreement is a mandatory condition for obtaining the Loan or where the Loan is granted under specific commercial terms and conditions.

The total cost of the Loan does not include notarial fees, state fees or insurance premiums voluntarily paid by the Client.

When calculating the total cost of the Loan and the initial Annual Percentage Rate, it is assumed that the Loan is drawn down immediately and in full by the Client, that the Agreement remains in force until the final repayment date agreed in the Non-Bank Credit Agreement, and that the Parties duly fulfil their contractual obligations.

2.7. Assessment – The process of assessing the Client’s creditworthiness, repayment capacity and likelihood of repaying the Loan.

2.8. ATM – A cash withdrawal machine owned by the Creditor.

2.9. MDL – The Moldovan leu. Loans approved and disbursed by the Creditor under the Agreement are denominated in Moldovan lei and must be repaid by the Client in Moldovan lei.

2.10. Business Premises – Any business location used by the Creditor where the Client may carry out one or more of the following activities: obtaining information and/or advice regarding loan applications and loan conditions; applying for a Loan; concluding an Agreement; or performing other activities in accordance with the Terms or Framework Agreement. Locations, opening hours and the relevant organisations managing the premises are listed on the Creditor’s website.

2.11. Processing Fee – A fee paid by the Client to the Creditor for reviewing the Application, arranging funds and formalising the Agreement or amendments to the Agreement.

2.12. Consumer Loan – A loan granted to the Client, including for the purchase of goods and services or the refinancing of existing monetary obligations.

2.13. Credit Bureau – A private legal entity established as a limited liability company or joint-stock company, registered in accordance with the law, which provides services relating to the creation, processing and storage of credit histories, the provision of credit reports and related services.

2.14. Credit Intermediary – A person authorised by the Creditor to conclude an Agreement on its behalf.

2.15. Client – A natural person who has entered into a contractual relationship with the Creditor and/or applies to use the products and services offered by the Creditor.

2.16. Client Account – An account opened for the Client on the MyIute platform under the Framework Agreement.

2.17. Client Reference Number – A unique number assigned to each Client, also used as the Framework Agreement number.

2.18. Electronic Signature – A signature provided by the Parties using a mobile device, having the same legal validity as a handwritten signature.

2.19. Fees – All fees charged by the Creditor in accordance with the Agreement.

2.20. Framework Agreement – A legally binding agreement establishing the conditions for the Client Account, Personal Credit Limit, granting Loans within the Personal Credit Limit and additional services related to Loans.

2.21. Interest – The amount paid by the Client to the Creditor as compensation for the Loan.

2.22. Personal Data Protection Law – The law governing personal data protection, including applicable amendments.

2.23. Loan – The amount of consumer credit approved by the Creditor, as defined in the Non-Bank Credit Agreement.

2.24. Loan Reference Number – A unique number assigned to each Non-Bank Credit Agreement.

2.25. MyIute – An online environment that enables Clients to register a Client Account, apply for Loans, view balances and loan-related activities in a consolidated overview, and make timely Loan repayments.

2.26. Reproducible Means of Communication – Any means of communication that meets the following criteria: (i) allows information to be addressed personally to the recipient; (ii) enables the recipient to store the information for future reference for a period appropriate to its purpose; and (iii) allows the stored information to be copied or reproduced without alteration. In addition to written communication, the Creditor considers emails, SMS messages, recorded telephone communications and similar methods to be reproducible means of communication.

2.27. Parties – As specified in the Agreement or Pledge Agreement.

2.28. Personal Credit Limit (PCL) – The maximum pre-calculated amount that the Client may receive as a Loan from the Creditor.

2.29. Repayment Date – The date on which the Client is required to repay the Loan, including all applicable fees.

2.30. Security Agreement – A secured credit agreement containing an enforcement clause.

2.31. Non-Bank Credit Agreement – A consumer credit agreement concluded for the granting of a Loan, including for purchasing goods and services or refinancing existing monetary obligations, together with all annexes, as well as the Pledge Agreement and its annexes.

2.32. Suspension Fee – The fee payable by the Client when requesting suspension of a particular monthly instalment. The amount is determined by the Creditor’s Price and Fee List. The Client may exercise this right only once for each monthly instalment.

2.33. Price and Fee List – The list of prices for additional services and activities performed by the Creditor in connection with Clients who are late in fulfilling their obligations. The Price and Fee List is published at the Creditor’s business premises and on its website.

2.34. Terms – The terms describing the general conditions for lending to natural persons.

2.35. Website – The Creditor’s website, www.iute.md.

3. General Principles for Concluding an Agreement

3.1. The Creditor has the right to decide with whom it will or will not enter into agreements (freedom of contract).

3.2. The Creditor may approve and conclude an Agreement if the following conditions are met:

3.3. The Client is a natural person and a citizen of the Republic of Moldova, is at least 18 years old and has the legal capacity to enter into an Agreement.

3.4. The Client’s identity has been properly verified.

3.5. The Client has an income and can afford to repay the Loan, and may be required to provide documentary evidence of that income.

3.6. The Client has applied for a Loan from the Creditor and the Application has been approved.

3.7. The Client accepts and signs the Framework Agreement.

3.8. The Client accepts and signs the Non-Bank Credit Agreement and its annexes and/or any other agreement considered necessary (for example, a Pledge Agreement).

3.9. In the case of a Pledge Agreement, the pledge is registered in the Register of Movable Property Security Interests.

3.10. Loan approval depends on the Assessment. The Creditor may also approve a Loan based on information contained in its internal database.

3.11. The Creditor shall not conclude Agreements with non-residents outside the Republic of Moldova or with Clients who fail or refuse to provide the information or documents requested for identification, verification and/or assessment of creditworthiness and affordability. The Creditor shall also refuse to conclude Agreements where Clients fail to provide sufficient evidence of the lawful origin of their funds, when requested, or where there are other grounds to suspect money laundering (including the use of a front person) or terrorist financing.

3.12. The Creditor shall not conclude Agreements with Clients who have caused direct or indirect damage to the Creditor, created a genuine threat of damage or harmed its reputation.

4. Submitting a Loan Application

4.1. The Client personally applies for a Loan by submitting an Application to the Creditor. Applications may be submitted through the Creditor’s Website, by telephone, through the MyIute mobile application, at the Creditor’s business premises, through a Credit Intermediary or through any other channel made available by the Creditor.

4.2. To apply for a Loan through the available digital channels, the Client must grant the Creditor access to the phone’s camera and microphone. The Client’s phone must be connected to the internet and have suitable hardware and software. The phone may also need fingerprint detection and/or facial recognition capabilities.

4.3. In the Application, the Client declares their personal details, email address, contact telephone number and other relevant information, as well as the requested Loan amount and Loan term.

4.4. The Creditor is not responsible for errors in the information provided by the Client. Any consequences arising from such errors shall be borne by the Client.

4.5. By submitting the Application, the Client agrees and acknowledges that the Creditor has the right to carry out checks with the Credit Bureau during the validity of the Framework Agreement, in accordance with the operational rules and procedures governing the use of Credit Bureau data.

4.6. Before the Creditor agrees to grant a Loan, the Client must declare whether they are a politically exposed person or are associated with a politically exposed person (hereinafter “PEP”). Additional information about PEPs is available at this link.

4.7. Before signing the Agreement, the Creditor shall provide the Client with pre-contractual information regarding the requested Loan and its conditions.

4.8. The conditions of the Non-Bank Credit Agreement shown in the table below are for illustrative purposes. For a personalised offer, our advisers will contact customers, including new customers*, after submission of the loan application.

New customer – a customer who has not previously received a non-bank loan from OCN Iute Credit SRL.

5. Customer Identification and Know Your Customer (KYC) Principles

5.1. The Client or, in exceptional cases, their representative must provide the data and documents requested by the Creditor for identification purposes.

5.2. The Client shall be identified based on personal identification documents that comply with applicable legislation and are accepted by the Creditor (for example, an identity card).

5.3. The Client or their representative may be identified through a communication method accepted by the Creditor or through digital identification methods.

5.4. The Creditor shall presume that the documents presented by the Client are authentic, valid and accurate.

5.5. The Creditor shall make copies of the documents provided by the Client and store them physically and/or electronically in accordance with the Privacy Policy.

5.6. The Creditor shall apply measures established at both national and international levels to prevent money laundering, terrorist financing and tax evasion, as well as measures relating to sanctions enforcement. Accordingly, the Creditor must maintain an overview of its Clients, their activities (including economic activities) and the origin of their assets, applying the Know Your Customer principle. On this basis, the Creditor has the right and obligation to:

5.6.1. Regularly verify the identification information of the Client or their representative and obtain additional documents and data (including citizenship, tax residence and place of residence) throughout the contractual relationship.

5.6.2. Periodically and/or at its discretion request documents and information concerning the Client’s activities, including the purpose and nature of transactions and the lawful origin of assets used in transactions.

5.6.3. Monitor the Client’s use of the Creditor’s services and reserve the right to refuse future agreements with the Client if negative information is discovered.

5.7. When applying anti-money laundering, counter-terrorist financing and sanctions measures, the Creditor shall use risk-based methods and assess the appropriate extent of such measures based on the nature of transactions and the assessed risk that the Client or any other person involved in a transaction may participate in or initiate money laundering, terrorist financing or violations of applicable sanctions.

6. Assessment of Creditworthiness and Repayment Capacity

6.1. The Creditor assesses the Client based on available information, including information received from the Client and, where necessary, inquiries into external databases relevant to assessing creditworthiness and repayment capacity, to which the Creditor has lawful access.

6.2. The Client is required to provide copies of documents necessary for the Assessment, as deemed necessary by the Creditor, such as:

6.2.1. Confirmation of employment; and/or

6.2.2. A copy of a bank statement or bank report; and/or

6.2.3. A document confirming receipt of a pension, in the case of a pension beneficiary, etc.

6.3. Where an Application concerns a Loan secured by a pledge, the Client must provide a valid ownership document for the pledged asset securing the Loan.

6.4. During the Assessment, the Creditor may, at its discretion and through its employees, conduct a conversation with the Client and request additional information or documents. Such conversations shall be recorded and stored in accordance with the Privacy Policy and shall form part of the Client’s file maintained by the Creditor.

6.5. For the purpose of Loan approval, the Client declares that, at the time of the Application:

6.5.1. They have no guarantor obligations or outstanding obligations to the state, financial institutions, current or former employers, or any natural or legal person, nor obligations falling due before the granting of the requested Loan, other than those disclosed to the Creditor during the conclusion of the Agreement.

6.5.2. There is no notarial payment demand or legal proceeding against them, and no objectively justified reason is known that could lead to such proceedings.

6.5.3. They are not insolvent and are not party to agreements whose performance would conflict with fulfilling their obligations under the Agreement.

6.5.4. All information provided in the Application is complete and accurate.

6.6. If the Client provides incorrect information when submitting the Application, the Creditor reserves the right, depending on when this is discovered, either to refuse to conclude the Agreement and grant the Loan or to terminate the Agreement (if already concluded) and any contractual relationship with the Client without prior notice, and to demand early repayment of the Loan together with all fees, costs and interest accrued or accruing up to the termination date.

The Loan shall become due for early repayment upon a unilateral declaration by the Creditor, which may be sent by SMS to the telephone number specified in the Application, delivered personally, sent to the declared address or sent by email.

6.7. If the Creditor approves the Application, the Client shall be notified by email and/or telephone (SMS or call), personally at the Creditor’s business premises or the premises of a Credit Intermediary, or through MyIute.

6.8. The Creditor has the right to offer the Client different contractual conditions from those requested, including a shorter repayment period or a lower Loan amount. If the Client accepts the offer by signing the Agreement, a new Application is not required.

6.9. The period for approving an Application is 72 (seventy-two) hours from its submission. If the Application is not approved within this period, it shall be deemed not approved.

6.10. The Creditor reserves the right to reject an Application without providing specific reasons, by sending written notification to the Client by email or SMS, displaying the rejection in MyIute or through tacit rejection. Tacit rejection occurs when the Creditor does not send an approval notification within the prescribed Application review period.

6.11. Where applicable, the Fee is charged on the date of signing the Non-Bank Credit Agreement and repaid by the Client together with the monthly instalments due under the Payment Schedule attached to that Agreement.

The amount of the Fee is specified in the Individual Credit Agreement. For the avoidance of doubt, the Fee remains payable in full in the event of early repayment of the Loan or early termination of the Agreement, regardless of the reason invoked by the Client.

7. Conclusion of the Agreement

7.1. Each Agreement shall be deemed concluded and shall enter into force when the Client signs it, either physically or electronically.

7.2. Each Agreement and any Application may be signed physically at the Creditor’s business premises or those of a Credit Intermediary. Electronic signing may be carried out through MyIute or another online environment.

The Parties agree and acknowledge that all declarations relating to the application for, conclusion, performance and termination of the Agreement, signed using a simple or advanced electronic signature, shall be equivalent to a handwritten signature.

7.3. For electronic signing within MyIute, the Client’s electronic certificate stored on their device (phone) shall be used.

When the “Sign” button is pressed, an application shall request biometric authentication (fingerprint or facial recognition) or, where enabled on an iPhone, the Client’s phone PIN.

The biometric information shall be used to obtain the verification result from the phone’s secure memory (for example, the Secure Enclave on an iPhone). Using the MyIute certificate stored there, a signature shall be generated for the PDF document and sent to the Creditor’s servers, where it shall be added to the PDF file.

No biometric information shall be transmitted to the Creditor’s servers. Furthermore, the biometric information cannot be reverse-engineered from the signature.

If biometric authentication is not configured and, in the case of an iPhone, the phone PIN is also not configured, the Agreement or Application shall be signed electronically using the Client’s declared telephone number.

The Creditor shall send a one-time password (OTP), which the Client must enter within 3 minutes on the displayed page. If the OTP entered matches the one sent by the Creditor, the Agreement or Application shall be considered signed.

7.4. For electronic signing outside MyIute, the Creditor shall send a unique link to the Client’s email address. Upon opening the link, an OTP shall be sent to the Client’s declared telephone number.

The Client must enter the OTP within 3 minutes on the displayed page. If the OTP entered matches the one sent by the Creditor, the Agreement or Application shall be considered signed.

7.5. The Pledge Agreement shall be deemed signed and concluded when the Client personally signs the Agreement and its annexes and is informed of all rights and obligations arising from it.

The Pledge Agreement enters into force after the Client signs the Agreement with the Creditor and the pledge is registered in the Register of Movable Property Security Interests.

7.6. Any amount approved and disbursed by the Creditor to the Client shall be considered a Loan approved by the Creditor in accordance with the Agreement.

8. Loan Disbursement

8.1. The Creditor shall disburse the Loan in full or in part to the Client in accordance with the Agreement and/or based on the Client’s subsequent instructions.

8.2. Loans may be disbursed to the Client’s bank account, through the postal service and/or an ATM, or, where goods or services are purchased through a Credit Intermediary, to the Credit Intermediary’s bank account, or through any other method agreed between the Client and the Creditor.

Each payment channel may be subject to additional fees as described in the Price and Fee List. The Client agrees that any additional fee shall be deducted from the Loan.

8.2.1. The Client is responsible for the accuracy of the bank account details to which the Loan is to be transferred, including where any third party (for example, another creditor) is involved.

8.2.2. To withdraw the Loan through an ATM, the Client must enter the Loan Reference Number. The Client shall be informed of the withdrawal fee, which shall be deducted from the Loan amount specified in the signed Agreement.

If the Client agrees to the displayed fee, they must confirm by pressing “YES”, after which the Creditor shall send an OTP to the Client’s registered telephone number.

The Client must enter the OTP received at the ATM and may then select the amount to withdraw.

8.2.3. Where the Agreement is concluded through a Credit Intermediary for the purpose of purchasing goods or services from that intermediary, the Parties agree that the Creditor shall transfer the Loan amount directly to the Credit Intermediary’s bank account.

The Client remains obliged to repay the Loan to the Creditor in accordance with the Agreement.

The Creditor shall not be responsible if the Credit Intermediary enters bankruptcy or liquidation proceedings or if any other circumstance prevents the transfer of the Loan amount.

The Creditor shall not be liable to the Client for technical problems relating to goods or services purchased using financing provided by OCN Iute Credit SRL.

The relationship between the Credit Intermediary and the Client is strictly bilateral.

8.3. If the Client has provided materially false information or the circumstances underlying the granting of the Loan have changed (including deterioration of the Client’s financial situation or the emergence of encumbrances on pledged assets that were unknown to the Creditor), the Creditor has the right to refuse disbursement of the Loan or any part of it.

9. Interest, Commissions, Fees and APR

9.1. The Creditor has the right to charge interest and/or other fees as agreed in the Non-Bank Credit Agreement.

9.2. The Client shall pay the Creditor interest on the outstanding Loan amount based on the interest rate specified in the Non-Bank Credit Agreement(s), within the periods and amounts set out in the Payment Schedule.

By signing the Agreement, the Client agrees that interest on the Loan shall apply and be calculated from the moment the relevant Non-Bank Credit Agreement is signed.

9.3. Interest shall be calculated using the method prescribed by law, taking into account a year of 365/366 days and a month of 30 days.

9.4. The Processing Fee is charged by the Creditor and represents costs associated with approving and disbursing the Loan, as agreed and payable under the Non-Bank Credit Agreement.

The Fee is payable in full upon conclusion of the Non-Bank Credit Agreement. However, the Parties agree that it may be paid together with the monthly Loan instalments, divided into equal amounts.

9.5. The total cost of the Loan comprises all costs, including interest, the Processing Fee and all other charges and fees that the Client is required to pay under the Non-Bank Credit Agreement and that are or should be known to the Creditor.

This includes fees for mandatory additional services connected with the Non-Bank Credit Agreement, particularly insurance premiums where an insurance agreement is a mandatory condition for obtaining the Loan or where the Loan is granted under particular commercial terms and conditions.

The total cost of the Loan does not include notarial fees or state fees.

The initial Annual Percentage Rate expresses the total present or future costs of the Loan to the Client (including interest, other direct or indirect costs, commissions or fees of any kind) arising from the use of the Loan, expressed as an annual percentage rate (APR).

The initial APR calculation is based on the contractual terms and conditions in force at the time of conclusion or amendment of the Non-Bank Credit Agreement, including the applicable interest rate.

When calculating the total cost of the Loan and the initial APR, it is assumed that the Loan is drawn down immediately and in full by the Client, that the Agreement remains in force until the final repayment date agreed in the Non-Bank Credit Agreement, and that the Parties duly fulfil their contractual obligations.

10. Payment Schedule

10.1. Throughout the validity of the Agreement, the Creditor shall provide the Client with the Payment Schedule free of charge.

10.2. The Payment Schedule contains information on the monthly Loan obligations, their due dates and the conditions for payment, including a breakdown of each payment showing the principal amount, interest, commissions, fees and, where applicable, other mandatory additional costs.

10.3. The Client may view the Payment Schedule in their Client Account. At the Client’s request, the Creditor shall also provide it by post or email.

10.4. For the Client’s convenience, the Creditor shall round the instalments specified in the Payment Schedule, with any adjustment made in the final repayment obligation.

11. Loan Repayment

11.1. The Client shall repay the Loan within the deadlines and under the conditions specified in this document and in accordance with the amounts set out in the Payment Schedule.

11.2. The Client shall repay the Loan to the Creditor’s bank account, as specified in the Non-Bank Credit Agreement, on the Creditor’s Website or in MyIute. Where available, the Client may also repay the Loan through cash payment terminals or other channels.

11.3. The Client shall separately bear, at their own expense, all costs that may arise in connection with the performance of the Agreement.

11.4. The Client must use either their Client Reference Number or a Loan Reference Number when making repayments.

Using a Loan Reference Number shall be considered a clear instruction regarding which obligations are being paid.

By using the Client Reference Number, the Client acknowledges that, where more than one Loan remains unpaid or other obligations are due to the Creditor, the allocation of payments shall be at the Creditor’s discretion.

11.5. Where the Client has more than one outstanding Loan with the Creditor and makes a payment without providing specific allocation instructions, the funds received shall be allocated first to amounts that are due and then to amounts falling due subsequently, in the following order:

11.5.1. Judicial and extrajudicial collection costs, costs of reminder letters and messages;

11.5.2. Suspension fee(s), where applicable;

11.5.3. Accrued default interest or late payment penalties;

11.5.4. Commissions and fees;

11.5.5. Interest;

11.5.6. Loan principal.

11.6. All repayments made by bank transfer shall be considered valid when identifiable funds are received in the Creditor’s bank account.

If funds received by the Creditor cannot be identified as having been paid on behalf of the Client, the repayment shall not be considered valid until identification is completed, and the Client shall bear all consequences of the payment delay.

11.7. If the Client repays an amount insufficient to cover all outstanding obligations, costs related to non-performance or late performance of the Client’s obligations shall be settled first, as specified in Clause 11.5.

12. Early Repayment

12.1. The Client has the right to repay the Loan in full or in part before its due date by submitting an early repayment request to the Creditor at least 3 days in advance.

Although the Client may choose the date of partial early repayment, this date may not be later than the due date of the next instalment.

12.2. In the case of full early repayment, the Client must pay the outstanding principal, unpaid commissions, accrued interest and other fees up to the date of early repayment.

12.3. In the event of early repayment, the Creditor is entitled to compensation for costs directly related to early repayment, amounting to:

• 1% of the amount repaid early where the remaining term of the Non-Bank Credit Agreement exceeds one year;

• 0.5% of the amount repaid early where the remaining term is less than one year.

The Client shall not owe compensation for early repayment where the Agreement is terminated based on a properly exercised right of withdrawal.

12.4. The Client shall pay the early repayment fee to the Creditor on the date of early repayment of the Loan or part thereof.

12.5. If the Client requests early repayment but fails to repay the Loan or the requested portion within the deadlines specified by the Creditor, the Client shall be deemed to have withdrawn the early repayment request.

If the Client has not signed the Addendum to the Credit Agreement relating to the partial early repayment request before the scheduled partial early repayment date, the request shall be cancelled.

12.6. If the Client makes payments exceeding the amounts due without informing the Creditor through Reproducible Means of Communication of their intention to repay the Loan in full or in part early, such payments shall not be considered early repayment.

Instead, they shall be treated as advance payments towards the Client’s future obligations.

The Creditor reserves the right to offset such amounts against any claims it may have against the Client arising from the Agreement(s) or approved Applications, treating those claims as due.

12.7. Early repayment may also be carried out through the Creditor’s approval of a new Non-Bank Credit Agreement (“Refinancing Loan”).

A Refinancing Loan may be approved only for the full, rather than partial, repayment of the Client’s existing obligations.

The Creditor is not obliged to approve an Application for a Refinancing Loan.

13. Right of Withdrawal

13.1. The Client has the right to withdraw from the Non-Bank Credit Agreement within 14 days from the date of signing the Agreement or from the date on which the Client receives information regarding their right of withdrawal, without paying compensation or penalties and without providing a reason.

13.2. The right of withdrawal shall be considered exercised if the Client sends notification to the Creditor through Reproducible Means of Communication before the expiry of the withdrawal period.

If the Client repays the Loan in full within the 14-day withdrawal period but does not notify the Creditor of their intention to withdraw, the repayment shall be treated as an advance payment under Clause 12.6.

13.3. If the Client exercises the right to withdraw from the Non-Bank Credit Agreement, they must return the Loan principal and pay the interest accrued between the date of signing the Agreement and the date of repayment of the principal and accrued interest.

This must be done without unjustified delay and no later than the end of the 14-day withdrawal period.

Interest shall be calculated based on the daily interest rate agreed in the Non-Bank Credit Agreement.

13.4. If the Client sends a timely withdrawal notification but does not repay the Loan within the withdrawal period, the Agreement shall remain in force under its original terms, including the Payment Schedule attached to the Non-Bank Credit Agreement and all consequences arising from any payment delays.

14. Deferral of Monthly Instalments

14.1. The Client has the right to request deferral of a particular monthly Loan obligation, in which case the Client must pay a deferral fee.

The deferral fee is a one-time, non-refundable and non-convertible monetary payment, the amount of which is published in the Price and Fee List, paid by the Client in order to:

14.1.1. Obtain acceptance of the fee for delaying repayment of the monthly instalment;

14.1.2. Avoid being recorded as a defaulting debtor in debtor registers, such as the Credit Register;

14.1.3. Stop the calculation of penalties;

14.1.4. Stop collection activities that would increase the Client’s total obligations.

14.2. The Client acknowledges that, if the obligations due, including the deferral fee, are not paid in full or in part by the agreed deadline, the Creditor has the right to calculate default interest retroactively from the original due date of the monthly obligation(s).

For the avoidance of doubt, the deferral fee shall not be refunded or counted towards payment of monthly obligations, interest, commissions or any other fees owed by the Client.

15. Consequences of Late Payment

15.1. If the Client fails to fulfil their obligations under the Agreement in full and on time, the Creditor has the following rights:

15.1.1. To calculate late payment penalties on the unpaid Loan principal from the due date until repayment of the amount owed. The default interest rate shall be calculated in accordance with Chapter 14 of the Framework Agreement.

15.1.2. To calculate and charge administrative fees for notifications concerning overdue obligations sent by SMS starting from the second day of delay, and administrative fees for written notifications, as follows: the first written warning, the second written warning, the written warning before termination of the Agreement and the termination notice, with the latter being subject to a termination penalty.

The fee(s) shall be calculated in accordance with Chapter 14 of the Framework Agreement.

15.1.3. To take all necessary actions in accordance with applicable laws, including terminating the Agreement and any other Agreements concluded between the Parties, and carrying out all activities necessary to collect its claims through competent authorities and institutions, including but not limited to courts, notaries and enforcement officers.

15.1.4. To transmit information regarding the Client’s obligations to the Credit Bureau, which may affect the Client’s future creditworthiness. Client data shall be transmitted to the Credit Bureau in accordance with the Law on Credit Bureaus.

16. Termination of the Agreement

16.1. If the Client is more than 50 (fifty) days late in paying obligations under any Non-Bank Credit Agreement, the Creditor has the right to terminate the Agreement and/or any active Individual Credit Agreement(s) and require the Client to immediately repay outstanding Loans, accrued interest, commissions, fees, default interest, penalties and other claims arising from the Agreement and/or any Non-Bank Credit Agreement(s), within 15 (fifteen) days of receiving the relevant notice from the Creditor, if:

16.1.1. It becomes evident that the Client provided materially false information in the Loan Application or other documents submitted to the Creditor (including notices and certificates);

16.1.2. The Client fails to properly fulfil payment obligations arising from the Agreement;

16.1.3. The Client fails to properly perform any other obligations arising from the Agreement;

16.1.4. In the case of a Loan secured by a pledge, the market value of the pledged asset decreases to such an extent that it is insufficient to satisfy the Creditor’s claims under the Agreement, or the pledge becomes invalid, and the Creditor and Client fail to agree on additional security;

16.1.5. Events occur that jeopardise the Client’s proper performance of the Agreement.

16.2. The Client has the right to terminate the Framework Agreement and any or all Non-Bank Credit Agreements at any time by notifying the Creditor of this intention through Reproducible Means of Communication at least 15 (fifteen) days before the intended termination date.

Termination of any or all Non-Bank Credit Agreements shall be considered early repayment, as described above, and may be subject to an early repayment fee.

By terminating the Framework Agreement, the Client acknowledges and agrees that all Non-Bank Credit Agreements shall also be terminated and must be repaid as of the termination date.

16.3. In the event of termination by either Party, the outstanding amounts under the Non-Bank Credit Agreement(s), together with all commissions, fees and interest accrued until the actual repayment date, shall become immediately due and payable.

The final amount payable by the Client as a result of termination by the Creditor under the Agreement shall be communicated by the Creditor through Reproducible Means of Communication.

17. Final Provisions

17.1. In the event of a conflict between the Framework Agreement and any Non-Bank Credit Agreement, the provisions of the Non-Bank Credit Agreement shall prevail.

17.2. The Creditor has the right to transfer and/or assign the rights and obligations arising from the Agreement(s), as well as to pledge Loan receivables arising from the Non-Bank Credit Agreement(s), to any third party without the Client’s consent.

17.3. The Client may not transfer rights and obligations arising from the Agreement or any Non-Bank Credit Agreement(s) to a third party without first obtaining the Creditor’s written consent.

17.4. The Parties agree to send notifications to each other through Reproducible Means of Communication using the most recently declared contact details provided to the other Party.

The Parties agree to inform each other of any material changes that may affect the Agreement.

Any notification shall be considered effective when delivered as follows:

(a) Upon personal delivery to the other Party;

(b) Upon delivery to the other Party’s email address or telephone number;

(c) On the day following receipt by registered postal service;

(d) On the day of notification in the individual MyIute web account;

(e) On the day of real-time notification through the MyIute platform using Reproducible Means of Communication.

17.5. The Client guarantees that they have obtained consent for the processing of personal data from any third party declared by the Client as an alternative contact person.

17.6. The Client and the Creditor shall endeavour to resolve any disputes amicably through conciliation, settlement, mediation or other means.

If no solution can be reached, the Parties shall refer the dispute to the competent courts.

17.7. The Agreement shall be governed by the substantive laws of the Republic of Moldova.

Any action, lawsuit or proceeding, including any interim protective or preliminary measure, arising from or relating to the Agreement shall be brought before and finally resolved exclusively by the competent court.

17.8. No waiver by or on behalf of the Creditor of any of its rights under the Agreement shall release the Client from fully performing their obligations under the Agreement unless such waiver is expressly made in writing by the Creditor.

17.9. No waiver by or on behalf of the Creditor of any of its rights under the Agreement shall release the Client from fully performing their obligations under the Agreement unless such waiver is expressly made in writing by the Creditor.

17.10. If any provision of the Agreement is deemed illegal, invalid or unenforceable, in whole or in part, the legality, validity and enforceability of the remaining provisions shall not be affected or restricted in any way.

The affected provision shall be deemed automatically replaced by another applicable, valid and lawful provision having the same or the closest possible effect to the affected provision or, if this is not possible, reflecting the original intention of the Parties when concluding the Agreement.

OCN Iute Credit SRL

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