1. I hereby apply for a loan from Konew Financial Express Limited (hereinafter called "Konew"). For the purpose of showing my ability to repay the loan and procuring Konew’s advancement of the same, I hereby declare the information contained in the application form and the required documents (including but not limited to identity documents and bank account proof) is true and accurate and acknowledge that Konew will rely on the information (including required documents) disclosed by me in advancing the said loan. I further acknowledge that consent has been obtained from the third parties in relation to the disclosure of their personal data.
2. Furthermore, I agree that Konew may enquire and verify with any sources on the truthfulness of the said information. I also understand that, whether the said application is to be approved or not, the application form (including the required documents) remains the property of Konew and will be in its possession.
3. I hereby agree that Konew is entitled to request me to provide further information and documents in support of my application.
4. I hereby agree that approval of this loan application including the loan amount granted shall be at the sole discretion of Konew without assigning any reason therefore.
5. I declare that I have not been delinquent in repaying any credit facilities with any financial institution. I am not bankrupt or a discharged bankrupt and have no intention to declare bankruptcy, and am not aware of any bankruptcy proceedings made against me.
6. I agree that online transaction is a new and rapidly advancing technology. Accordingly, there may be limitations in the technology for online transactions where my expectation might not be met. While I understand that Konew will use its best endeavours to keep my personal data confidential, Konew shall not be liable for any claim, loss or damage of any leakage of my personal data which is not caused by unauthorized disclosure by Konew.
7. I agree that Konew shall retain all records relating to the loan transactions done on the internet or over the phone. Such records are deemed to be valid legal documents which shall be binding on me.
9. I further understand and accept the content of this Declaration and declare that the information stated on the form and required documents submitted shall be final.
1. The Borrower (“Borrower”); and
2. Konew Financial Express Limited, whose registered address and other details are set out in the Electronic Record (“Lender”).
1. The Lender is a money Lender licensed under the Money Lenders Ordinance.
2. The Borrower has submitted an application for Loan to the Lender through the Platform (as defined below).
3. If the Lender agrees to advance the Loan (as defined below) to the Borrower, the Loan shall be subject to the following terms and conditions.
IT IS HEREBY AGREED THAT:
1.1. The words and expressions set out below shall have the following meanings unless the context otherwise requires:-
“Communication” means a letter, notice, request, demand or other communications between the Lender and the Borrower or any other persons.
“Electronic Record” means the electronic record containing details of the parties to the Loan Agreement and the Loan, generated or to be generated by the Platform and signed or otherwise accepted or to be signed or otherwise accepted electronically by the Borrower to signify his agreement to and acceptance of the terms and conditions of the Loan Agreement.
“Event of Default” means any of the events or circumstances set out in paragraphs (a) to (h) of Clause 8.1.
“Hong Kong” means the Hong Kong Special Administrative Region of the People’s Republic of China.
“Liabilities” means all sums, whether of principal, interest, fees, costs or other amounts, owed and/or payable by the Borrower to the Lender from time to time.
“Loan” means the amount advanced or to be advanced by the Lender to the Borrower as set out in the Electronic Record or as otherwise determined by the Lender or the principal amount outstanding under the Loan Agreement from time to time, as the context requires.
“Loan Agreement” means, collectively:
1) the Electronic Record;
2) the summary of the provisions of the Money Lenders Ordinance (“Summary”) required to be issued to Borrowers pursuant to the Money Lenders Ordinance;
3) the Personal Information Collection Statement (“PICS”) issued by Konew Financial Express Limited to its customers and clients relating, amongst other things, to its use of their personal data;
4) these General Terms and Conditions; and
5) any other agreements and documents which the Lender requires the Borrower to accept as a condition of the Lender advancing the Loan.
“MLO” means the Money Lenders Ordinance (Cap.163).
“Platform” means the online application system on the Konew Financial Express Limited website (www.konew.com) through which the Borrower has applied for a Loan.
“Working Day” means a day (other than a Saturday or Sunday) on which commercial banks are open for general business in Hong Kong.
1.2. Interpretation of General Terms and Conditions
(a) Headings are for convenience only and shall be ignored in construing these General Terms and Conditions.
(b) References to clauses and paragraphs are, unless otherwise stated, references to clauses and paragraphs in these General Terms and Conditions.
(c) References to any statute, ordinance or law shall be construed as a reference to such statute, ordinance or law as re-enacted, amended, modified or extended from time to time.
(d) Reference to these General Terms and Conditions or any deed, instrument or agreement shall be construed as a reference to the same as amended, modified, extended, varied, supplemented or novated from time to time.
(e) References to the “Lender”, the “Borrower” and any other person shall include their permitted assignees or transferees, or their executors, personal representatives and successors (as the case may be).
(f) The singular shall include the plural and vice versa and any gender shall include the other genders (and each of them).
(g) Where the Borrower comprises more than one person (i) the liabilities of such persons in respect of every covenant, representation and other obligation under the Loan Agreement shall be joint and several, (ii) references to the Borrower shall be construed as references to all and/or any one or more of those persons, (iii) the Lender may release or discharge any one or more persons constituting the Borrower from liability or compound with, accept compositions from, or make any other arrangement with, any of them without affecting the Lender's rights against the remaining persons, and (iv) any communication to any one person constituting the Borrower will be deemed effective communication to all such persons.
2. The Loan
2.1.The Lender shall confirm its intention to advance the Loan pursuant to the terms of the Loan Agreement by issuing the Electronic Record. Once the Lender has issued the Electronic Record and the Borrower has confirmed its acceptance of all the terms of the Loan Agreement by signing the Electronic Record electronically, the Lender shall advance the Loan to the Borrower in accordance with the terms of the Loan Agreement.
2.2.The Borrower agrees that the amount of the Loan will be more particularly described in the Electronic Record.
2.3.The Loan is subject to the terms and conditions of the Loan Agreement.
3.1. The term of the Loan is or will be more particularly described in the Electronic Record.
4.1. The Liabilities shall be repaid and paid (as the context requires) by the Borrower to the Lender without deduction on or before the repayment date set out in the Electronic Record.
4.2. All payments by the Borrower shall be made in Hong Kong Dollars in accordance with the Lender's directions by not later than 4 p.m. (Hong Kong time) by remittance to the Lender's account (details of which will be provided by the Lender to the Borrower) or such other account or by such other means as the Lender may designate, in immediately available funds without set-off or counterclaim and free and clear of any deduction or withholding for any taxes, duties or any other charges whatsoever.
4.3. If the Borrower is for any reason obliged to make any deduction or withholding for taxes, duties or other charges from any payment, he will pay such additional amount to the Lender so that the Lender receives a net sum equal to the sum it would have received had no such deduction or withholding been required to be made.
4.4. If any payment is made by the Borrower or otherwise falls due on a non-working day, it shall instead be made or fall due on the next working day.
4.5. The Borrower may prepay all Liabilities in full prior to the repayment date set out or to be set out in the Electronic Record by giving thirty (30) days’ prior written notice to the Lender of his intention to do so. A written notice from the Borrower indicating an intention to prepay Liabilities shall be irrevocable and oblige the Borrower to prepay in accordance with the notice.
5. Dates of the Execution of the Loan Agreement and the Advancement of the Loan
5.1.The dates of the execution of the Loan Agreement and of the advancement of the Loan are or will be respectively set out in the Electronic Record.
6.1. The Borrower shall pay the Lender interest on the Loan at the rate stated or to be stated in the Electronic Record.
6.2. Interest on the Loan shall accrue and be paid at the times stated or to be stated in the Electronic Record.
7. Representations and Warranties
7.1. The Borrower represents and warrants as follows:-
(a) He has full capacity and power to enter into and perform his obligations under the Loan Agreement and the Loan Agreement constitutes his legal, valid and binding obligations, subject to the principle that equitable remedies may be granted or refused at the discretion of the court, and subject to the limitations imposed by law on enforcement relating to insolvency and reorganisation and other laws generally affecting the rights of creditors.
(b) He is not in breach of or in default under any agreement to which he is a party or which is binding on him or any of his assets to an extent or in a manner that might have an adverse effect on his financial condition.
(c) Execution of the Loan Agreement does not and will not constitute an Event of Default or breach of any existing law or regulation or of the terms of any security, contract, undertaking or restriction binding on him.
(d) No event or circumstance has occurred or exists which constitutes (or with the giving of notice or lapse of time or both would constitute) an Event of Default.
(e) The Borrower is not subject to or facing any litigation, arbitration or proceeding instituted at any court or arbitration tribunal. The Borrower is not aware of any threat against him or any of his property or assets which may have an adverse effect on his business, assets or condition.
(f) All information supplied by the Borrower to the Lender in connection with the Loan Agreement and his use of the Loan, and all information provided by the Borrower to the Lender in the course of the application for the Loan through the Platform or otherwise, is true, complete and accurate in all aspects. The Borrower is not aware of any facts or circumstances that have not been disclosed to the Lender and which might, if disclosed, adversely affect the decision of a person considering whether or not to provide any credit to the Borrower.
8. Events of Default
8.1. The Borrower agrees that if any of the following events or circumstances occurs or arises, the Lender may, by not less than seven (7) days’ prior written notice, demand repayment and payment (as the case may be) by the Borrower of all or any part of the Liabilities and the Borrower shall pay the Lender the relevant Liabilities in accordance with the notice. If the Borrower fails and/or refuses to pay the relevant Liabilities within the period prescribed in the Lender’s aforesaid notice, the Lender shall be entitled to take such legal and other action against the Borrower for the immediate recovery of the Liabilities as it may deem appropriate:-
(a) the Borrower fails to pay at such place and in such currency as stated in the Loan Agreement, any Liabilities or any other amounts due;
(b) the Borrower does not comply with any provision of the Loan Agreement (other than that referred to in paragraph (a) of Clause 8.1);
(c) any representation, warranty, undertaking or statement made or deemed to be made by the Borrower in his application for the Loan, the Loan Agreement or any other document delivered by or on behalf of the Borrower under or in connection with the Loan Agreement is or is proven to be incorrect or misleading in any material respect when made or deemed to be made;
(d) the Borrower is or is presumed or deemed to be unable or admits his inability to pay his debts as they fall due and stops making payments on any of his debts or, by reason of actual or anticipated financial difficulties, commences negotiations with one or more of his creditors (excluding the Lender in its capacity as such) with a view to rescheduling any of his indebtedness;
(e) any action, legal proceedings or other procedure or step is taken in relation to (i) the suspension of payments, a moratorium of any indebtedness, bankruptcy, dissolution, administration, provisional supervision or reorganisation (by way of voluntary arrangement, scheme of arrangement or otherwise) of the Borrower; (ii) a composition or arrangement with any creditor of the Borrower, or an assignment for the benefit of creditors generally of the Borrower or a class of such creditors; (iii) the appointment of a trustee in bankruptcy or liquidator, receiver, administrator, administrative receiver, compulsory manager, provisional supervisor or other similar officer in respect of the Borrower or any of its assets; or (iv) enforcement of any security over any assets of the Borrower, or any analogous procedure or step is taken in any jurisdiction;
(f) it is or becomes unlawful for the Borrower to perform any of his obligations under the Loan Agreement;
(g) the Borrower repudiates the Loan Agreement or shows an intention to repudiate the Loan Agreement; or
(h) the Borrower does any act or omits to do any act or any situation occurs which, in the reasonable opinion of the Lender, might materially and adversely affect the Borrower’s ability to perform his obligations under the Loan Agreement.
8.2. The Borrower shall pay interest on any overdue Liabilities or such sum required by the Lender to be paid under Clause 8.1 at the interest rate specified in the Electronic Record from the due date of such Liabilities or the date such Liabilities were demanded to be paid up until the date of actual payment, whether before or after any judgment.
8.3. The Borrower shall on demand indemnify the Lender against any cost, loss or liability sustained or incurred by it as a result of: (a) the making of a demand under Clause 8.1; or (b) having to exercise and enforce or attempting to exercise or enforce any rights under the Loan Agreement.
9.1. Any communication given or made under the terms of the Loan Agreement must be in writing and shall be given or made to or upon the parties by hand, mail, facsimile or email or via the Platform in the manner required by the Lender and shall be addressed to the appropriate party at its address, facsimile number or email address set out in the Electronic Record or to such other address by such other method (including a communication via the Platform) as such party may from time to time designate to the other party in writing.
9.2. Any communication given or made under the Loan Agreement shall be deemed to have been received (i) forty-eight (48) hours after the mailing thereof, if sent by post, (ii) in the case of an email or facsimile, one working day after the date of dispatch thereof and (iii) in the case of a communication via the Platform, on the working day following the date of despatch.
10. No Waiver
10.1. No time allowed or indulgence granted by the Lender to the Borrower in respect of the performance by the Borrower of any of the terms of the Loan Agreement shall constitute a waiver of the same unless such obligation is expressly waived in writing by the Lender. No waiver of any obligation of the Borrower under the Loan Agreement shall prevent the subsequent enforcement of the relevant provision in respect of any subsequent event or the enforcement of any other terms of the Loan Agreement.
11.1. If any provision of the Loan Agreement is prohibited by or held to be unlawful or unenforceable under any applicable laws applied by any competent court, such provision shall, to the extent required by such law, be severed from the Loan Agreement and rendered ineffective (so far as possible, without modifying the remaining provisions of the Loan Agreement). Where, however, the provisions of any such applicable law may be waived, they are hereby waived by the parties to the fullest extent permitted by such law so that the Loan Agreement shall be valid and binding agreement enforceable in accordance with its terms.
12.1. The Loan Agreement shall not be amended, supplemented or modified except by written instrument signed by the parties hereto.
13.1. The Borrower shall not be entitled to assign or transfer all or any of his rights, benefits, obligations and liabilities under the Loan Agreement.
13.2. The Lender may at any time assign or transfer all or any of its rights, benefits, and obligations under the Loan Agreement and the Borrower agrees to execute such documents and do all such acts and things as the Lender may require to give full effect to such assignment or transfer.
13.3. The Borrower agrees that the Lender may disclose from time to time any information relating to the Borrower or the Borrower's transactional relationship with the Lender (including details of the Loan and the Loan Agreement and any information disclosed pursuant to Clause 16) to any actual, potential or proposed assignee, transferee or novatee of, or successor to, the Lender's rights and/or obligations in relation to the Loan Agreement and any agents and/or professional advisers of such assignee, transferee, novatee or successor.
14.1. The legal costs and expenses for the preparation and execution of the Loan Agreement shall be borne by the Lender.
15.1. Any failure or delay by the Lender to exercise or enforce its rights under the Loan Agreement shall not be deemed as a waiver of any such right. Any defective exercise of such a right shall not preclude any other or further exercise of that right, or the exercise of any other rights under the Loan Agreement.
16. Know your customer
16.1. The Borrower shall promptly upon the request of the Lender provide, or procure the provision of, such documentation and other evidence as is reasonably requested by the Lender in order for the Lender or any potential lender to conduct any "Know Your Customer" or other similar procedures under applicable laws and regulations.
17. Governing Law and Jurisdiction
17.1. The Loan Agreement was negotiated and concluded in Hong Kong and shall be governed by and construed in accordance with the laws of Hong Kong and the parties hereto irrevocably submit to the non-exclusive jurisdiction of the courts of Hong Kong.
18. Third Party Rights
18.1. No person other than the Lender and the Borrower will have any right under the Contracts (Rights of Third Parties) Ordinance (Cap. 623) to enforce or enjoy the benefit of any of the terms and conditions set out in the Loan Agreement.
19. Online Signing
19.1. The Loan will not be advanced to the Borrower unless and until all the following conditions are satisfied:-
(a) the Borrower has signed the Loan Agreement online using the Platform and in accordance with the instructions provided by the Lender;
(b) the Lender has approved the granting of the Loan;
(c) the Borrower has acknowledged receipt of the Loan Agreement, including these General Terms and Conditions and indicated his acknowledgement by clicking the confirmation button on the confirmation/execution webpage of the Platform, or by any other methods or by completing the handwritten signature procedure and inputting his signature onto the Platform; and
(d) the Lender has acknowledged receipt of the Borrower’s confirmation (as mentioned in paragraph (c)) via the Platform or in any other manner chosen by the Lender.