Terms of Services
By using, accessing, or browsing the PeraSure website, mobile application, or other related digital medium or media (hereinafter referred to as "Platform"), you hereby signify that you have read and acknowledged these Terms of Service (hereinafter referred to as this "Agreement") and agree to be bound by the same, and your individual rights and legal responsibilities will be determined in accordance with the laws of the Republic of the Philippines. Upon the use of the Platform, this Agreement shall be a binding contract between you and SULIT LENDING CORPORATION (hereinafter referred to as "Company"). If you do not agree, do not fully understand or have reservations with respect to any provisions of these Terms of Service, please exit this Platform immediately.
Pursuant to SEC Memorandum Circular No. 19, Series of 2019, the Company is duly registered with the Securities and Exchange Commission (SEC) under SEC Registration No. 2020100002616-03 and holds a valid Certificate of Authority to Operate as a Lending Company with C.A. No. 3333.
1.1. "Account" refers to the unique user account created by you on the Platform to access the Services.
1.2. "Loan Agreement" refers to the specific contract of loan, including the Loan Disclosure Statement required under the Truth in Lending Act (R.A. 3765), entered into between you and the Company upon approval of your loan application.
1.3. "Services" refers to the online lending, financing, and related services provided by the Company through the Platform.
1.4. "User", "you", or "your" refers to any individual who accesses, browses, or uses the Platform and its Services.
2.1. By registering an Account and using the Platform, you represent and warrant that you are of legal age, a resident of the Philippines, and have the legal capacity to enter into binding contracts under Philippine law.
2.2. You further warrant that all information provided during registration and loan application is true, accurate, current, and complete.
3.1. We may require each user to have a unique username/login and password combination in order to access and use certain features or functions of the Platform. As part of the registration process, you will choose a username and password (or we may assign an initial password which we will give you the option to change).
3.2. Your username and password, as well as any OTP (One-Time Password) sent to your registered mobile number, are personal to you. You may not allow any others to use your Account under any circumstances. You are solely responsible for maintaining the confidentiality of your Account credentials.
3.3. To the fullest extent permitted by law, the Company is not liable for any harm, loss, or damage caused by or related to the theft or misappropriation of your credentials, disclosure of your credentials, or your authorization of anyone else to use your Account. You agree to immediately notify us if you become aware of any unauthorized use of your Account.
3.4. The Company reserves the right to terminate or suspend your access to the Platform immediately, without prior notice or liability, for any reason, including breach of this Agreement.
4.1. In accordance with the Electronic Commerce Act of 2000 (R.A. 8792), you agree that all agreements, notices, disclosures, and other communications that we provide to you electronically satisfy any legal requirement that such communications be in writing.
4.2. You fully understand and agree that by clicking "I Agree", "Accept", "Submit", or any similar button on the Platform, or by entering an OTP, you are providing your electronic signature, which is legally binding and equivalent to your handwritten signature. You authorize the Company to use electronic signature service providers to facilitate and verify your electronic execution of the Loan Agreement and other documents.
5.1. After successful registration, you may use the Platform to apply for financing, sign contracts, withdraw funds, view transaction records, and participate in Company activities.
5.2. The specific terms and conditions of the loan, including principal amount, interest rates, service fees, penalties, and repayment schedules, shall be governed by the separate Loan Agreement and Loan Disclosure Statement provided to you prior to the consummation of the loan, in compliance with the Truth in Lending Act.
5.3. For Know-Your-Customer (KYC) and Anti-Money Laundering (AMLA) purposes, the Company is obligated to obtain personal information to verify your identity and conduct a product affordability suitability assessment. If the information provided is incomplete or untrue, the Platform may reject your application. The Company reserves the absolute right to approve or deny any loan application based on its proprietary credit assessment.
6.1. The contents of the Platform, including all software, design, text, images, databases, proprietary information, trademarks, service marks, and trade names (collectively, "Material"), are the exclusive property of the Company and its licensors, and are legally protected under Philippine and international intellectual property laws.
6.2. The Platform is to be used solely for your non-commercial, non-exclusive, non-assignable, non-transferable, and limited personal use. You shall not reproduce, modify, create derivative works from, distribute, or otherwise use any Material without the express prior written consent of the Company. Any unauthorized use may subject you to civil liability and criminal prosecution.
7.1. The collection, use, storage, and disclosure of your personal data shall be governed by our Privacy Policy, which is incorporated by reference into this Agreement. By using the Platform, you consent to the processing of your personal data in accordance with the Privacy Policy and the Data Privacy Act of 2012 (R.A. 10173).
7.2. You authorize the Company to verify your personal identity, obtain credit information from the Credit Information Corporation (CIC) or other credit bureaus, and provide your information to our partner organizations (such as payment channels and verification providers) necessary to complete the Services.
8.1. In the event of default on any loan obtained through the Platform, the Company reserves the right to employ all legal means to recover the pending credits, including the engagement of third-party collection agencies and legal counsel.
8.2. The Company and its authorized collection agents shall conduct collection activities in compliance with SEC Memorandum Circular No. 18, Series of 2019 on the Prohibition on Unfair Debt Collection Practices. The Company shall not use threats, obscenities, or false representations, nor shall it contact persons other than the borrower, guarantors, or character references named in the application for purposes of debt collection.
9.1. The products and services on the Platform are provided on an "as is" and "as available" basis without any representation or warranty. To the fullest extent permissible under applicable laws, the Company expressly disclaims all warranties, express or implied, including, but not limited to, warranties of merchantability, fitness for a particular purpose, non-infringement, accuracy, freedom from errors, availability, or realization of transactions.
9.2. The Company does not guarantee any specific results from the use of the Platform. The Company shall not be responsible for any delays, interruptions, or system failures outside its reasonable control.
10.1. To the fullest extent permitted by applicable law, in no event shall the Company, its directors, officers, representatives, agents, or assigns be liable for any direct, special, indirect, incidental, or consequential damages, or any other damages of any kind, including but not limited to loss of use, loss of profits, or loss of data, arising out of or in any way connected with the use of or inability to use the Platform.
10.2. The Company shall not be liable to you for any loss or damage except where such loss or damage arises directly from our material breach of these Terms of Service or was caused by the gross negligence, willful default, or fraud of the Company or its authorized officers.
You agree to indemnify, defend, and hold harmless the Company, its directors, officers, employees, and agents from and against any and all claims, liabilities, damages, losses, costs, expenses, or fees (including reasonable attorneys' fees) arising from or relating to: (a) your use or misuse of the Platform; (b) your breach of this Agreement or any Loan Agreement; (c) your violation of any law or the rights of any third party; or (d) your provision of inaccurate, false, or fraudulent data.
12.1. In compliance with the Financial Products and Services Consumer Protection Act (R.A. 11765), the Company has established a consumer assistance mechanism to provide free assistance on financial transaction concerns.
12.2. All complaints, inquiries, and requests arising out of or in connection with this Agreement or the Services shall be submitted to our Customer Service Department at help@perasure.ph or through the in-app customer support feature.
We reserve the right, at any time and from time to time, for any reason in our sole discretion, to change the terms of this Agreement. We will post notices of material changes on the Platform. Once posted, these changes become effective immediately, and your continued use of the Platform signifies your agreement to be bound by the amended terms.
14.1. Severability. In the event that any provision of this Agreement is deemed by any competent authority to be unenforceable or invalid, the relevant provision shall be modified to allow it to be enforced in line with the intention of the original text to the fullest extent permitted by law. The validity of the remaining provisions shall not be affected.
14.2. Notices. You agree that all documents or notices may be delivered to you electronically, through your registered e-mail address or mobile number. It is your sole responsibility to update the Company with your current contact details.
14.3. Survival. Subject to applicable law, all disclaimers, indemnities, and limitations of liability in this Agreement shall survive the termination of this Agreement.
14.4. Waiver. No single or partial exercise, or failure or delay in exercising any right, power, or remedy by us shall constitute a waiver by us of that or any other right, power, or remedy.
14.5. Entire Agreement. Unless expressly agreed in writing otherwise, this Agreement, together with the Privacy Policy and any Loan Agreement, sets out the entire agreement between you and us with respect to your use of the Platform.
14.6. Force Majeure. The Company shall not be liable for any failure or delay in performance due to circumstances beyond its reasonable control, including but not limited to acts of God, natural disasters, pandemic, war, terrorism, government action, or internet/telecommunication failures.
14.7. Class Action Waiver. Where permitted by applicable law, you agree that any dispute resolution proceedings will be conducted only on an individual basis and not in a class, consolidated, or representative action.
14.8. Governing Law and Venue. This Agreement shall be governed by and construed in accordance with the laws of the Republic of the Philippines. Any court action arising out of or in connection with this Agreement shall be filed in the proper courts of Manila City, to the exclusion of all other courts. By agreeing to this Agreement, you irrevocably submit to such venue.