AKULAKU USER’S AGREEMENT

This User Agreement (the “Agreement”) is an end-user license agreement between you (“User”, “you”, “your”, “yours”) and Akulaku (“Akulaku”, “we”, “us”, “our”), a corporation organized and registered under the laws of the Republic of the Philippines. The Agreement shall govern all the User’s use of the Akulaku application, services, software, and support (collectively, the “Akulaku App”, “Akulaku Portal”, or “App”) that Akulaku offers.
Hereinafter, the User and Akulaku may collectively be referred to as the “Parties”.

I. PRELIMINARIES

1. Please read before accessing the Akulaku portal. By checking the box indicating acceptance, the User agrees to be bound by the terms and conditions of this Agreement, along with other supplementary regulations of Akulaku, including SLC’s Data Privacy Policy and Intellectual Property law, in the use of and access to the portal.
2. This User Agreement is subject to the amendment of the aforementioned supplementary regulations of Akulaku, The User agrees to any potential revisions or modifications made to the agreement in compliance with pertinent Philippine laws and regulations, which shall be made known to the User through a notice or any reasonable measure. User’s continued use of the Site or the Services after any change to this Agreement signifies User’s agreement to be bound by any such changes.
3. The purpose of the Portal is to enable the User to shop and make payment transactions while accessing and availing benefits connected to Akulaku’s “Buy Now Pay Later” (BNPL) loan service.

II. DEFINITION OF TERMS

1. Akulaku – also refers to Streetcorner Lending Corp.—a corporation duly established under Philippine law and registered with the Securities and Exchange Commission (SEC).
2. SLC – refers to the Streetcorner Lending Corp.
3. BNPL – also referred to as Buy Now Pay Later; is an Akulaku service whereby a loan is extended to enable qualified Users to buy products of Akulaku partner merchants now and pay later.
4. Subscription – refers to the User’s act of enrolling his/her account in the Akulaku Portal for auto debit arrangement until full settlement of the loan.
5. User – refers to the account holder or the individual who uses the Akulaku Portal, whose name appears on the online form, and who signed the enrollment or application forms.
6. Outstanding Balance – means the total amount of the principal loan owed by the User to Akulaku.
7. Personal Data – refers to data provided to identify, contact, or locate the User.
8. Third-party – refers to contractors, suppliers, or vendors of Akulaku whose products and services support or are used in the Akulaku Portal.
9. Agreement – refers to this User Agreement.
10. Loan – refers to the loan received by the User from Akulaku to make financial transactions and purchases.
11. Business Day – refers to any day other than a Saturday, Sunday, or formally declared national or public holiday of the Philippines.
12. Product – refers to the availed product made by purchasing with Akulaku’s loan service.
13. Equipment – refers to the device, gadget, or electronic used to access the Akulaku App.
14. Account – refers to the User’s profile and record within the Akulaku App.
15. Network – refers to the mobile data provider used to connect to the internet in order to access Akulaku’s loan services.
16. Request – refers to a concern or suggestion received by Akulaku from the User upon which Akulaku is authorized to act upon.
17. Personal Information – refers to the User’s name, contact information, date of birth, and other relevant identification documents according to the Data Privacy Policy of Akulaku, which is pursuant to the PH Data Privacy Act of 2012 and its IRRs.
18. SMS – refers to “Short Message Service” which allows a method of communicating by text from one device to another.
19. Consent – refers to the permission provided by the User to Akulaku and vice-versa regarding the use and access to personal and rightfully owned property, information, and services.
20. Data Privacy Policy – refers to Akulaku’s policy for data privacy hyperlink(?)
21. Intellectual Property Rights – refers to Akulaku’s policy for Intellectual Property rights hyperlink (?)
22. Default – kindly define accordingly
23. Outstanding Balance – kindly define accordingly
24. Fees – kindly define accordingly
25. Interest – kindly define accordingly
26. Principal – kindly define accordingly
27. Installment – kindly define accordingly
28. Deferred Payment – kindly define accordingly

III. TERMS AND CONDITIONS

These Terms and Conditions (“Terms”) govern User’s use of the mobile application (“App”) provided by Akulaku (“Company,” “we,” “us,” or “our”). By accessing, downloading, or using the App, you agree to comply with and be bound by these Terms. If you do not agree to these Terms, do not use the App.

1. Acceptance of Terms
By downloading, installing, or using the App, the User agrees to these Terms, which constitute a binding agreement between you and the Company. You must be at least 18 years old to use the App.
2. Changes to Terms
We may modify these Terms at any time without prior notice. Any changes will be effective upon posting the updated Terms in the App. Your continued use of the App after any changes signifies your acceptance of the new Terms.
3. ACCOUNT CREATION AND MANAGEMENT
3.1. User Accounts
To access certain features of the App, you may be required to create an account. You agree to provide accurate, current, and complete information during the registration process and to update such information to keep it accurate, current, and complete.
3.2. User Responsibilities
Users are responsible for maintaining the confidentiality of their account credentials, including their username and password, and all activities that may occur in the User’s account. Users agree to notifying Akulaku immediately of any unauthorized use of their account or any other breach of security.
Moreover, the User represents and warrants compliance with the SIM registration requirements of the Republic Act No. 11934 otherwise known as the SIM Registration Act, and verification of the ownership of the SIM used for loan application.
3.3. References
The User guarantees that the emergency contacts and character references the User provided have consented to be qualified as such and have notified said emergency contacts and character references that they may be contacted by Akulaku for verification, payment collection, marketing, and customer.
If the User provides personal, sensitive personal, and financial information relating to other parties, including information relating to next-of-kins and dependents, the User (a) confirms having been given consent or is otherwise entitled to provide this information to Akulaku and allows its use in accordance with this agreement; and (b) agrees to ensure that the personal, sensitive personal and financial information of said parties are accurate.
3.4. Account Security
You are responsible for maintaining the confidentiality of your account login information and for all activities that occur under your account. You agree to notify us immediately of any unauthorized use of your account or any other breach of security.
3.5. Eligibility and Approval
Approval for the Buy Now Pay Later service is subject to our review and approval process. We may require you to provide additional information to determine your eligibility.
We reserve the right to deny or revoke access to the service at our discretion, based on our assessment of your creditworthiness and other factors. Akulaku may refuse or cancel BNPL transaction Requests if: (a) Akulaku is unable to verify the User’s identity; (b) the User does not comply with information requests; or (c) Akulaku reasonably and justifiably believes the User is using the BNPL service, or allowing it to be used, in violation of this Agreement or of any pertinent laws, rules, or regulations.
That said, User agrees that Akulaku is under no obligation to disclose the particular reason/s for such.
3.6. User Conduct
You agree to use the App in a manner that is lawful, ethical, and respectful of the rights of others. By using the App, you agree not to:
3.6.1. Illegal Activities
Engage in any activities that violate any local, state, national, or international laws or regulations.
3.6.2. Harassment and Abuse
Transmit any content that is unlawful, harmful, threatening, abusive, harassing, defamatory, vulgar, obscene, libelous, or otherwise objectionable.
Engage in any form of harassment or abusive behavior towards other users.
3.6.3. Intellectual Property
Infringe on the intellectual property or other proprietary rights of any party, including but not limited to copyright, trademark, patent, or trade secrets.
3.6.4. Harmful Software
Transmit any viruses, worms, malware, or any other harmful or disruptive software.
3.6.5. Privacy Violations
Collect, store, or disclose any personal data about other users without their explicit consent.
Impersonate any person or entity, or falsely state or otherwise misrepresent your affiliation with a person or entity.
3.6.6. Disruption
Engage in any activity that interferes with or disrupts the normal operation of the App, servers, or networks connected to the App.
Attempt to gain unauthorized access to any portion of the App, other accounts, computer systems, or networks connected to the App, through hacking, password mining, or any other means.
3.6.7. Spamming and Unauthorized Communications:
Use the App to send unsolicited or unauthorized advertising, promotional materials, junk mail, spam, chain letters, or any other form of solicitation.
3.6.8. False Information
Provide false, inaccurate, or misleading information when using the App or interacting with other users.
3.6.9. Multiple Accounts
Create more than one account per individual without our prior written permission, or create an account on behalf of someone else without their permission.
3.6.10. Fraudulent Activities
Use the App to engage in any fraudulent, deceptive, or manipulative activities.
3.7. Reporting Violations
If you encounter any content or behavior that violates these User Conduct provisions, please report it to us immediately at [Contact Information].
3.8. Consequences of Violations
We reserve the right to take appropriate actions, including but not limited to issuing warnings, suspending or terminating your account, and pursuing legal remedies, if you violate these User Conduct provisions.
3.9. Monitoring and Enforcement
We have the right, but not the obligation, to monitor your use of the App to ensure compliance with these User Conduct provisions. We may investigate and take appropriate legal action against anyone who, in our sole discretion, violates these Terms.
3.10. Changes to User Conduct
We may modify these User Conduct provisions at any time. Any changes will be effective upon posting the updated.

4. PERSONAL INFORMATION

4.1. Collection
We collect personal information that you provide during account creation, such as your name, email address, phone number, and other relevant details. Additional information may be collected if you choose to provide it.
4.2. Use
The personal information collected is used to provide and improve our services, communicate with users, personalize user experience, and for other purposes outlined in our Privacy Policy.
4.2.1. User authorizes Akulaku to communicate via, phone call, SMS/text, In-App messaging, social network messaging or chat, mail, or any means for the following purposes:
4.2.1.1. To update User about the status of the application;
4.2.1.2. To respond to User’s inquiries and other customer service requests;
4.2.1.3. To notify User regarding orders and transactions;
4.2.1.4. To conduct collection activities in case of default;
4.2.1.5. To inform about other products, services, and promotional activities of AKULAKU; or,
4.2.1.6. For any other lawful purposes.
4.2.2. User authorizes the Akulaku to:
4.2.2.1. Verify income, residence, business/employment, and any such other pertinent, sensitive, confidential, and/or personal information from disclosed employer/s, through or from any third party or any sources, online or otherwise, necessary for the Akulaku to decide on the application; and,
4.2.2.2. Conduct random verification with any institutions, such as but not limited to the credit bureau or other external parties, as well as any government agencies (i.e. SSS, GSIS, BIR, DOLE), which may supply relevant information for my application.
4.3. Sharing
We do not share your personal information with third parties except as necessary to provide our services, comply with the law, or protect our rights. Please refer to our Privacy Policy for detailed information on how we handle your data.
User hereby consents to the recording of phone conversations or any conversations, communications, online chat, or SMS, that may be recorded between the User and any employee, contract assignee, representative, or agent.

5. DATA ACCESS AND CONTROL

5.1. Access
Users have the right to access their personal information stored in their accounts. You may review and update your account information at any time through the account settings in the application.
5.2. Deletion
Users may request the deletion of their accounts and personal information. To delete your account, please follow the instructions provided in the account settings or contact our support team. Note that some information may be retained for legal or operational purposes.
5.3. Data Portability
Upon request, users have the right to obtain a copy of their personal data in a structured, commonly used, and machine-readable format.
6. USER ACCOUNT VERIFICATION

6.1. Initial Verification
Upon registration within the mobile app, users are required to verify their account using a valid email address or mobile phone number. A verification link or code will be sent via email or SMS to the provided contact information.
6.2. In-App Verification
Users may need to complete in-app verification steps, such as taking a selfie, scanning a government-issued ID, or answering security questions.
7. WARRANTY

7.1. Service Availability
We warrant that we will use commercially reasonable efforts to maintain the availability of the app and its services. However, we do not guarantee uninterrupted access to the app at all times, as downtime may occur for maintenance or unforeseen circumstances.
7.2. Service Functionality
We warrant that the app will perform materially in accordance with its documentation and advertised features. However, we do not warrant that the app will meet all user requirements or expectations, or that any defects will be corrected.
7.3. Contents
Any content we upload or publish through the app, including but not limited to text, images, videos, and audio, complies with all applicable laws and regulations. We also warrant that they have all necessary rights, licenses, and permissions to use and distribute the content.
8. RESPONSIBILITIES OF THE USER

8.1. Accurate Information
Users must provide accurate and up-to-date information during the verification process. Any discrepancies or false information may result in account suspension or termination.
8.2. Confidentiality
Users are responsible for maintaining the confidentiality of their verification information and account credentials. Sharing verification codes, passwords, or other account details with others is strictly prohibited.
8.3. Update Information
Users must promptly update and verify their account information if there are any changes to their contact details or other relevant information within the mobile app. Additionally, Users are requested to notify Akulaku of any changes. Akulaku will not be held liable for any errors or fees that occur as a result of outdated Account Information.
9. MODIFICATION OF BNPL SERVICE

9.1. Akulaku-Initiated Voluntary Termination
The User understands that Akulaku may modify, suspend, or terminate its BNPL Service without notice, at any time if, through sole and reasonable discretion, it is deemed necessary.

IV. OWNERSHIP

1. User agrees that all information and documents supplied, or by any authorized representatives, or otherwise obtained by Akulaku per the foregoing shall be the property of Akulaku. Any such information and documents, as well as any personal or sensitive personal information that the User provides Akulaku or which it may obtain in the course of the verifications permitted here, and may be used by the latter for any lawful purpose at its discretion, including but not limited to providing it to its agents it may retain to assist it in completing the verifications it may conduct pursuant to the application, whether the application is granted or not. Without limiting the generality of the foregoing, the User authorized the Akulaku to:

1.1. Include the name and other pertinent information, the application and the loan in any report or disclosure to any credit bureau; or,
1.2. Disclose and furnish information to affiliates, subsidiaries, agents, service providers any prospective assignee/s or transferee/s, and rating agencies.
1.2.1. User agrees that by providing its personal information to avail of the BNLP service, User expressly consents to the processing of the same information to create and maintain its account, availing the BNLP service, requesting transactions, or as required by Philippine laws, rules, or regulations. Such consent includes an authorization for Akulaku to disclose the said information to concerned third parties.
1.2.2. The User agrees that the information provided may be used by Akulaku to pre-fill any of the User’s future applications.

IV. FEES, RATES, AND OTHER CHARGES

1. User agrees to pay fees, rates, and applicable taxes, related to the service and its use, as may be imposed by Akulaku and/or Third Party. This includes amendments made regarding the aforementioned fees, of which Akulaku shall notify the User.

2. All Fees are non-refundable and shall be debited from the User’s account.

V. NON-LIABILITY CLAUSE

1. Akulaku makes no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability, or availability with respect to any information, products, services, or related graphics contained in the merchant/partner store. Any reliance the User may place on such information is therefore strictly and exclusively at the risk of the User.

2. In no event shall Akulaku be liable for any loss or damage arising from any technical issues on the shopping website (Platform), change of price without prior notice, unavailability of an item, delay in delivery, non-delivery of the ordered item, defects in the item purchased, enforcement of product warranty, or any other claim, liability or responsibility arising from availing of merchandise in the store, the quality of the item purchased, or the delivery of the item purchased.

3. Akulaku does not warrant that the App will be uninterrupted or error-free, that defects will be corrected, or that the App or the servers that make it available are free of viruses or other harmful components.

4. User acknowledges that, to the full extent permitted by law, Akulaku shall not be liable for any unauthorized drawing, transfer, remittance, disclosure, any activity, or any incident on User’s account due to knowledge, use, or manipulation of User’s Account PIN, password, ID or any means whether as a result of User’s negligence or not.

5. Akulaku assumes no responsibility or liability for any misrepresentation of your age. By agreeing to this agreement, you truthfully represent and warrant that you are of legal age as aforementioned.

6. If the security of the Account is compromised or believed to be in danger of being compromised, the User must inform Akulaku with a detailed report of the related incident and must present proof thereof within 24 hours from knowledge of the related incident.

7. Akulaku shall not be liable for any claims, charges, demands, damages, or adverse impacts on your financial accounts if you cease using Akulaku’s services and do not complete a loan repayment or have default payments.

8. The User agrees not to use the App for any commercial, business, or resale purposes, and Akulaku has no liability for any loss of profit, loss of business, business interruption, or loss of business opportunity resulting from it.
By using the App, the user agrees that the entire risk arising out of the use of the App remains solely with the user, to the maximum extent permitted by law.

VI. SEPARABILITY CLAUSE

Should any term or condition in this Agreement be rendered void, illegal, or unenforceable in any respect under any law, the validity, legality, and enforceability of the remaining terms and conditions shall not be affected or impaired thereby.

VII. PRIVACY

Akulaku prioritizes User Data Privacy. All Personal Data provided to Akulaku will be handled, stored, and processed according to our Privacy Policy (“Akulaku Privacy Policy”). By accepting these Terms and Conditions, you acknowledge that you have read and agree with the Akulaku Privacy Policy, and consent to Akulaku’s collection, use, and disclosure of your Personal Data for the purposes as set out in the Privacy Policy.

VIII. OWNERSHIP OF CONTENT AND INTELLECTUAL PROPERTY

1. Service and Content Ownership
The app and all content provided through the Service are owned by Akulaku, including but not limited to text, graphics, logos, icons, images, audio clips, digital downloads, and data compilations.
2. Intellectual Property Rights
All intellectual property rights associated with the Service, including patents, trademarks, copyrights, and trade secrets, are the property of Akulaku and its licensors. Users acknowledge and agree that they do not acquire any ownership rights by using the Service.
3. User Content
Users retain ownership of any content they submit, post, or display on or through the Service (“User Content”). By submitting User Content, users grant Akulaku a non-exclusive, royalty-free, worldwide, sublicensable, and transferable license to use, reproduce, distribute, prepare derivative works of, display, and perform the User Content in connection with the Service and Akulaku’s business operations.
4. Data Ownership
Data generated or collected through the use of the Service shall be owned and controlled by Akulaku, subject to our Privacy Policy.

IX. COMPLAINTS HANDLING PROCEDURE

A User’s questions, needs, and feedback are very important to Akulaku. Thus, for any complaint or concern about the service, the User may contact the Customer Service number: 063282313188, or e-mail Akulaku at paylater.cs@akulaku.com.