Villkor & Privacy

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  • Senast ändrad 2021-04-14

    Våra kunders förtroende är vår största tillgång och ligger till grund för allting vi gör. Förtroendet bygger på respekt och skydd för kundernas personliga integritet. Den 25 maj 2018 trädde den nya dataskyddsförordningen (“GDPR”) i kraft, en reglering som ställer högre krav än vad den tidigare regleringen gjort. Vi har därför genomfört en rad åtgärder i syfte att leva upp till de krav GDPR ställer på oss som organisation, däribland skapat den här sidan och även uppdaterat vår Personuppgiftspolicy (se länk nedan). Vår Personuppgiftspolicy innehåller information om hur vi behandlar dina personuppgifter, hur vi hanterar och skyddar den elektroniska kommunikationen på våra webbplatser (SaveLend.se/Billecta.com/Loanstep.se), vilken information vi sparar om dig samt hur du för fram åsikter eller klagomål till oss. När du använder webbplatserna och tjänsterna samlar vi in och behandlar dina personuppgifter. All behandling av personuppgifter sker i enlighet med gällande lagstiftning om dataskydd. Det är viktigt att du läser och förstår vår Personuppgiftspolicy innan du använder våra tjänster.

    All behandling av personuppgifter om dig som kund/användare är vi personuppgiftsansvariga över när du använder våra tjänster eller kontaktar oss. Hur, när och varför vi behandlar dina personuppgifter kan du få svar på genom att läsa vår Personuppgiftspolicy.
    Underbiträden för behandling av personuppgifter

     

    Underbiträde

    Syfte med behandlingen

    Kategorier

    Plats

    Cellip

    Företagstelefoni

    Mobiltelefonnummer

    Sverige, EU

    Zendesk

    Chatt-applikation för kundtjänst

    Namn, mejladress, mobiltelefonnummer, och ip-adress, demografisk data, finansiella uppgifter, persondata, historisk information, företagsdata

    USA (SCC/BCR)

    Groove

    Chatt-applikation för kundtjänst

    Namn, mejladress, mobiltelefonnummer, och ip-adress, demografisk data, finansiella uppgifter, persondata, historisk information, företagsdata

    EU, USA

    G-suite (Gmail och kalender)

    E-post och kalender för anställda

    Namn, mejladress, mobiltelefonnummer, och ip-adress, demografisk data, finansiella uppgifter, persondata, historisk information, företagsdata

    EU, USA (SCC/BCR)

    MS Office

    E-post och kalender för anställda

    Namn, mejladress, mobiltelefonnummer, och ip-adress, demografisk data, finansiella uppgifter, persondata, historisk information, företagsdata

    EU, USA (SCC/BCR)

    Power Bi

    Affärsanalystjänst

    Namn, mejladress, mobiltelefonnummer, och ip-adress, demografisk data, finansiella uppgifter, persondata, historisk information, företagsdata

    EU, USA (SCC/BCR)

    Sir Analyst

    Affärsanalystjänst

    Namn, mejladress, mobiltelefonnummer, och ip-adress, demografisk data, finansiella uppgifter, persondata, historisk information, företagsdata

    EU, USA (SCC/BCR)

    Infobip

    SMS-utskick vid informationsgivande och marknadsföring

    Mobiltelefonnummer

    EU

    Mailchimp

    Mejl-utskick vid informationsgivande och marknadsföring

    Mejladresser

    EU

    Hubspot

    Marknadsföring, kommunikation och mätning

    Namn, mejladress, mobiltelefonnummer, ip-adress, demografisk data, finansiella uppgifter, adresser

    EU, USA (SCC/BCR)

    Rule

    Marknadsföring, kommunikation och mätning

    Namn, mejladress, mobiltelefonnummer, och ip-adress, demografisk data

    EU, USA (SCC/BCR)

    Microsoft Azure

    Databas och back-up

    Namn, mejladress, mobiltelefonnummer, och ip-adress, demografisk data, finansiella uppgifter, persondata, historisk information, företagsdata, adresser

    Nederländerna, EU

    Google Cloud

    Molnlagring av dokument, kalkyler och mallar. 

    Namn, mejladress, mobiltelefonnummer, och ip-adress, demografisk data, finansiella uppgifter, persondata, historisk information, företagsdata, adresser

    EU, USA (SCC/BCR)

    Slack

    Intern kommunikationsplattform

    Namn, mejladress, mobiltelefonnummer, och ip-adress, demografisk data, finansiella uppgifter, persondata, historisk information, företagsdata, adresser

    EU, USA (SCC/BCR)

    Billecta AB

    Faktureringstjänst

    Namn, mobiltelefonnummer, personnummer och hemadress

    Sverige, EU

    OneFlow

    Avtalshantering och eID-tjänst som används vid elektronisk signering av avtal

    Namn, mobilnummer, personnummer och ip-adress, adresser

    Sverige, EU

    Bisnode

    Kreditupplysningstjänst

    Namn, demografisk data, finansiella uppgifter, persondata, företagsdata, adresser, personnummer

    Sverige, EU

    Kreditz

    Kreditupplysningstjänst

    Namn, demografisk data, finansiella uppgifter, persondata, företagsdata, adresser, transaktionsdata, bankuppgifter

    Sverige, EU

    Adform

    Verktyg för annonsering

    IP adresser

     

    AQ Analys 

    Verktyg för kundenkäter

    Mejladresser, demografisk data

    Sverige, EU

    Google Ads

    Annonsering och mätning

    IP adresser

    EU, USA (SCC/BCR)

    Microsoft Ads

    Annonsering och mätning

    IP adresser

    EU, USA (SCC/BCR)

    Adrecord

    Verktyg för annonsering

    IP adresser

    Sverige, EU

    Adtraction

    Verktyg för annonsering

    IP adresser

    Sverige, EU

    Facebook

    Annonsering

    IP adresser

    EU, USA (SCC/BCR)

    Future Media Group AB

    Annonsering

    IP adresser

    EU, USA (SCC/BCR)

    Nyheter365 AB

    Annonsering

    IP adresser

    EU, USA (SCC/BCR)

    Frankly

    Annonsering

    IP adresser

    Sverige, EU

    Naes & Friends

    Annonsering

    Namn, mejladress, mobiltelefonnummer, ip-adress, demografisk data, finansiella uppgifter, adresser

    Sverige, EU

    Digital Massa

    Annonsering

    IP adresser

    Sverige, EU 

    Tink

    Verifiering av bankkonto

    Namn, demografisk data, finansiella uppgifter, persondata, företagsdata, adresser, transaktionsdata, bankuppgifter

    Sverige, EU 

    Wordpress

    Verktyg för marknadsföring och kommunikation (hemsida)

    IP adresser

    Sverige, EU 

  • 1 General 

    1.1 This privacy policy contains information about how SaveLend Group AB (publ) (559093-5176), and its subsidiaries (collectively called "SaveLend", "we" or "us") processes personal data of their employees and other persons that collaborate with SaveLend on any legal basis. It is important that you read and understand this Privacy Policy before sharing personal information with us.

    1.2 SaveLend provides digital services (“service” or “services”). When you are using the Service, you become a user (“user”) and SaveLend will process your personal data in different ways.   SaveLend is the data controller for the personal data  in accordance with this Privacy Policy, unless otherwise specified.

    1.3  SaveLend will only collect and process personal data in accordance with the General Data Protection Regulation (EU 2016/679) (“GDPR”) or other legislation in force at the time of processing. This Privacy Policy also describes your rights under GDPR. 

    1.4 If you have questions regarding the processing of personal data in SaveLend, please contact our data protection officer (“DPO”) with the following contact information: 

    E-mail: dpo@savelend.se 

    Mail: SaveLend Group AB, Att: DPO Kammakargatan 7, 111 40 Stockholm, Sweden 

    1.5 If you are not satisfied with how we process your personal data, you can leave a complaint to Integritetetsskyddsmyndigheten (IMY)  +46 8 657 61 00, imy@imy.se Box 8114, 104 20 Stockholm, or your local data protection authority. In Poland you can leave a complaint to Polish Data Protection Office, +48 22 531 03 00, kancelaria@uodo.gov.pl, ul. Stawki 2, 00-193 Warszawa. 

    1.6 The latest version of our Privacy Policy is available on SaveLend's various websites, for example at Savelend.se and Loanstep.se. 

    2 Collection of personal data 

    2.1 SaveLend processes personal information that you provide to us when you are applying for the job or working as an employee at SaveLend or collaborating with us on any legal basis. The personal data we process is usually: 

    (i) Contact and identity information such as, name, social security number and other information about yourself eg. address, nationality, tax residence, any information about PEP, telephone number, e-mail address etc.

    (ii) Financial information such as information about your finances that you share with us, e.g. if you apply for credit and submit information requested in the KYC documentations or other information about your finances that we ask for when you create an account on any of the services. 

    (iii) Other information that you have chosen to share with us, for example the employment history if you apply for a job at SaveLend or contact our customer service. We will never ask for information about religious beliefs, political or philosophical views, union membership, or information on health, sexual life, or sexual orientation. If you still give us such information voluntarily based on your consent, you can always withdraw the consent. 

    2.2 SaveLend processes personal information that we collect about you when you use SaveLend's services. Depending on the service you use, we may collect the following information directly, or through our partners: 

    (i) Contact and identity information such as, name, social security number, gender, nationality, telephone number, e-mail address etc. 

    (ii) Financial information such as income and expenses, debts, transaction data, previous payment and credit approvals, etc. 

    (iii) Information about how you interact with SaveLend - how you use our services, including page response time, download errors, how you reached and left the service, and delivery notes when we contact you. 

    (iv) Device information - for example: IP address, language settings, browser settings, time zone, operating system, platform and screen resolution. 

    (v) Information from external sanctions lists and PEP lists - we may obtain and compare information from EU sanctions lists and lists of so-called Politically Exposed Persons (PEP). These lists include information such as name, date of birth, place of birth, occupation or position, and the reason why they are on the list in question. 

    3 Why SaveLend processes personal data and for how long 

    3.1 SaveLend processes personal data to provide and improve the services, fulfill our contractual obligations to you and comply with the law. SaveLend processes personal data for the following purposes and based on the following legal grounds. 

    3.1.1 Personal data processed: 

    - Contact and identity information 

    - Information on how you interact with SaveLend 

    - Device information 

    Purpose: To provide the Services, keep user accounts up to date and ensure that the content of the Service is presented properly 

    Legal ground: In order to fulfill SaveLend's contractual obligations 

    Time for processing: One year after the user has stopped using the Service by terminating their account, or as long as required by law. 

    3.1.2 Personal data processed: 

    - Contact and identity information 

    - Financial information (when we verify your identity through your bank)

    Purpose: To confirm your identity and verify your personal and contact information 

    Legal ground: In order to fulfill SaveLend's contractual commitments and to comply with the regulations Time for processing: One year after the user has stopped using the Service by terminating his account, or as long as required by law. 

    3.1.3 Personal data processed: 

    - Contact and identity information 

    - Financial information 

    Purpose: Perform credit check before credit is granted 

    Legal ground: Comply with the regulations, like Consumer Credit Act and fulfill SaveLends contractual obligations (towards our investors on the platform) 

    Time for processing: A maximum of one year from the information is collected or until updated information is received, if the user creates an account, one year aer the user has stopped using the Service by terminating his account, or as long as required by law 

    3.1.4 Personal data processed: 

    - Contact and identity information 

    - Financial information 

    - Device information 

    - Information from external sanction lists and PEP lists 

    Purpose: Performing risk analysis, preventing fraud and performing risk management 

    Legal ground: Comply with the law (especially anti-money laundering laws), when the credit in question is regulated by law, and to be able to fulfill SaveLend's contractual obligations (to our investors on the platform) 

    Time for processing: A maximum of one year after the information is collected, or until updated information is received. If the user creates an account, one year after the user has stopped using the Service by terminating his account, or as long as required by law 

    3.1.5 Personal data processed: 

    - Contact and identity information as well as other information that you give us 

    Purpose: To provide support and customer service 

    Legal ground: To fulfill SaveLend's contractual obligations and other legitimate interests. Time for processing: A maximum of 6 months after the end of the support case. 

    3.1.6 Personal data processed: 

    - Contact and identity information 

    Purpose: To send information about SaveLend and the Service (marketing activities)

    Legal ground: Legitimate interests 

    Time for processing: As long as we have your consent. 

    3.1.7 Personal data processed: 

    - Contact and identity information 

    - Financial information 

    - Device information 

    - Information from external sanction lists and PEP lists 

    Purpose: Comply with applicable regulation, the Swedish Act (2017: 630) on measures against money laundering and terrorist financing 

    Legal ground: Comply with applicable regulation 

    Time for processing: 5 or 10 years from the time the measures were carried out depending on the individual case 

    4 Disclosure of personal data 

    4.1 SaveLend may transfer or share personal data with other parties who process data on SaveLend's behalf, in order for SaveLend to provide the Services. SaveLend uses subcontractors or categories of subcontractors as specified on the following website: https://savelend.se/privacy. 

    4.2 SaveLend only cooperates with companies that process personal data within the EU / EEA or with companies that maintain the same level of protection as within the EU / EEA by, for example, using standard clauses or binding corporate agreements. 

    4.3 Confidentiality applies to most personal data in accordance with the existing regulation, Payment Service Act. SaveLend may not improperly release or otherwise disclose any information about users to third parties. However, SaveLend may disclose necessary personal information to authorities such as police, tax authorities or other authorities if SaveLend is required by law. An example of legal extradition is information to the Swedish Tax Authorities on preliminary tax or information that is disclosed to counteract money laundering and financing against terrorism. 

    5 Your rights 

    5.1 Right to receive register extract. You have the right, once per calendar year, free of charge, to access a register of your personal data that we store and process. Your request must be submitted in writing to us and have your signature. Use the contact information provided in Section 1.4. 

    5.2 Right to correction. You have the right to correct incorrect or incomplete information about yourself. You can correct incorrect or incomplete information about yourself by logging into My Pages on Loanstep.se or SaveLend.se. You can also contact us if you need help with this. 

    5.3 Data portability. With regard to personal data that you have provided, you have the right to request a transfer to another supplier. Contact us for help with this. Use the contact information provided in Section 1.4. 

    5.4 Deactivation and deletion of user accounts (Right to be forgotten). You have the right object that your personal data is being processed, if not required by law. The consequence of this may be that you can no longer use the Service. If you want to delete your user account, please contact us according to the contact details below pointed out in Section 1.4.

    5.5 Marketing Communications. You can always decline to receive marketing communications from SaveLend by clicking the "unsubscribe" in the e-mail and SMS communications SaveLend sends. If you are registered, you are welcome to contact SaveLend for assistance in not receiving any more of  SaveLend's communication. 

    5.6 The right to withdraw consent. For those applications where personal information is being processed because of consent, you may at any time revoke your consent by contacting us. The consequence of this may be that you can no longer use the Service. In order to do so, use the contact information provided in Section 1.4. 

    6 Safety measures 

    Security is important for SaveLend, which takes adequate technical and organizational security measures to ensure that personal data cannot be abused, lost or disposed of by unauthorized persons in connection with SaveLend's processing of personal data in accordance with this Internal Privacy Policy. 

    7 Cookies 

    7.1 SaveLend uses "cookies" on its websites. A cookie is a small text that is sent from our server to your browser. Cookies are used, among other things, to save personal settings and also enable us to see what the visitor does on the site. 

    7.2 There are two different variations of "cookies"; partly called "session cookies" and partly "durable cookies". SaveLend's websites use both session cookies and durable cookies. 

    Session cookies are used during the time the visitor is active on the site and is only temporarily stored in the visitor's working memory and which is automatically removed when the visitor closes his browser. 

    Durable cookies are used to tell the visitor what has been updated on the site since he last visited the site and to identify returning users and save information that was previously provided. Cookies cannot identify you personally, but only the browser that was installed on your computer at the time of the visit. 

    7.3 SaveLend produces statistics on the number of visits, the number of times individual pages have been visited, which URLs the visitors come from, which search engines and keywords are used to enter our site. The purpose of this data collection is to give us an idea of how we can improve our website. The information collected is information about domain names, browsers, operating systems, time when you accessed our website and if you clicked on any link to access our website. This information is not disclosed to third parties. This information could be disclosed with sub-processors for analytic and marketing purposes. 

    7.4 The majority of all browsers are set to automatically accept cookies. If you do not want cookies to be stored on your computer, you can change that setting directly in your browser. 

    8 Changes to this Privacy Policy 

    8.1 SaveLend reserves the right to make changes to this Privacy Policy. 

    8.2 All changes to this Privacy Policy will be posted on our website. Please visit our website regularly to keep you informed of any changes.

    1. INTRODUCTION

    SBL Finans AB (publ), reg. no. 556933-0961 (“SaveLend”), Kammakargatan 7, 111 40 Stockholm, Sweden,  a licensed Swedish entity by the Certain Consumer Credit-related Operations Act (2014:275) supplies an internet based marketplace (the “SaveLend Marketplace”) for users that want to:

    (a) invest in loans in whole or in part as creditors;

    (b) assign claims in whole or in part as Lending companies; and/or

    (b) assume and reassign claims in whole or in part as investors.

    These general provisions (the “General Provisions”) were issued by SaveLend on 21 august 2018. The terms and conditions set out in Section 1 (Introduction), Section 2 (Definitions) and Section 6 (Miscellaneous general provisions) of the General Provisions apply to all of SaveLend’s users. The terms and conditions set out in Section 3 (General Terms and Conditions for Assignment and Assumption of Claims) apply to all Lending companies and investors who assign and assume claims on the SaveLend Marketplace. The terms and conditions set out in Section 4 (Loan Intermediation) apply to investors who invest in loans as creditors. The terms and conditions set out in Section 5 (Agreement regarding the Investor’s use of the SaveLend Marketplace) applies to all investors. A Lending company's use of the SaveLend Marketplace is also regulated in a separate agreement entered into between the Lending company and SaveLend.

    The SaveLend Marketplace can be used by a person who has been approved by SaveLend as a user of the SaveLend Marketplace in its capacity as Lending company or Investor (each term as defined below). SaveLend reserves the right to deny a Lending company or an Investor from using the SaveLend Marketplace. Further, SaveLend reserves the right to verify and approve the representative of a Lending company and an Investor, who carries out the registration process on the platform. While assessing the representative for approval, SaveLend will, inter alia, take into account possible formal restrictions applicable in the representative’s domicile. In case the representative or the user is not approved by SaveLend, any User Account (as defined below) opened by the representative or user will be promptly deactivated and deleted.

    Risk information

    SaveLend reminds the users of the SaveLend Marketplace that an assumption of claims may not be lawfully protected against a third party. There is a risk that an assigned claim cannot be collected against a debtor and that an assigned claim may be included in the Lending company’s bankruptcy estate in case an Insolvency Event (as defined below) occurs in respect of the Lending company.

    Personal Data

    For information about how SaveLend processes personal data, reference is made to SaveLend’s Privacy Policy which is available at www.savelend.se/privacy. 

    1. DEFINITIONS

    In the General Provisions:

    “Administrator” means the Lending company or any successor appointed to manage and administrate an Assigned Claim.

    “Assigned Claim” means any Claim or part thereof assigned through the SaveLend Marketplace.

    “Assignment and Assumption Terms” means the terms and conditions set out in Section 3 (General Terms and Conditions for Assignment and Assumption of Claims).

    “Business Day” means a day (other than a Saturday or Sunday) on which banks are open for general business in Stockholm, Sweden.

    “Claim” means each claim against a Debtor under:

    (i) a Loan Agreement (including, but not limited to, the outstanding amount of the Loan, interest, any default interest and any other payments to be made by the Debtor to the Lending company or an Investor (as applicable) in accordance with the Loan Agreement); or

    (ii) an Invoice (including, but not limited to, the invoiced amount, any default interest and any other payments to be made by the Debtor to the Lending company in respect of the Invoice).

    “Debtor” means the borrower under a Loan Agreement or the addressee of an Invoice.

    “Funds” means any funds received from the Debtor as payment in respect of an Assigned Claim or a Loan.

    “Insolvency Event” means, in respect of a person, when such person:

    (a) becomes insolvent, suspends its payments or is wound up or declared bankrupt;

    (b) is subject to composition with its creditors, administration or company reorganization; or

    (c) becomes subject to any similar proceedings.

    “Investor” means a person registered on the SaveLend Marketplace as an investor.

    “Invoice” means an invoice issued by an Invoice Seller to a customer for services or goods supplied by the Invoice Seller.

    “Invoice Seller” means a person selling its invoices to a Lending company.

    “Loan” means a loan granted or to be granted by an Investor or a Lending company to a borrower under a Loan Agreement.

    “Loan Agreement” means the loan agreement evidencing a Loan originally entered into between (i) a borrower and (ii) an Investor or a Lending company as lender.

    “Loan Application” means an approved loan application published on the SaveLend Marketplace as an offer to Investors on the SaveLend Marketplace to grant a loan to the applicant.

    “Loanstep” means the website www.loanstep.se

    “Offer” means the offer to Investors in respect of the assignment of a Claim (or a part thereof) registered by a Lending company or a Reassigning Investor on its User Account.

    “Lending company” means a person registered on the SaveLend Marketplace as a Lending company.

    “Lending company Interest” means the interest payable by the Lending company to an Investor in respect of an Assigned Claim.

    “Purchase Price” means the purchase price for a Claim specified in an Offer.

    “Reassigning Investor” means an Investor who wants to reassign a Claim (or a part thereof) on the SaveLend Marketplace.

    “SaveLend Lending company Agreement” means the agreement entered into between a Lending company and SaveLend in respect of the Lending company’s use of the SaveLend Marketplace and in force from time to time.

    “User” means a person registered as a user on the SaveLend Marketplace.

    “User Account” means the account in the name of a User held by SaveLend in the SaveLend Marketplace system.

    1. GENERAL TERMS AND CONDITIONS FOR ASSIGNMENT AND ASSUMPTION OF CLAIMS

    3.1 Introduction

    These Assignment and Assumption Terms apply to the assignment and assumption of a Claim (or a part thereof) between a Lending company and an Investor whose assignment and assumption have been mediated by SaveLend through the SaveLend Marketplace. These Assignment and Assumption Terms also apply to the reassignment and assumption of a Claim (or a part thereof) from an Investor to another Investor mediated by SaveLend through the SaveLend Marketplace.

    By offering a Claim (or a part thereof) for sale or accepting an Offer to purchase a Claim (or a part thereof) on the SaveLend Marketplace, each Lending company and each Investor accepts the general terms and conditions for assignment and assumption of claims applicable on the date of the registration of the Offer on the relevant User Account.

    The specific terms for each individual assignment and assumption of a Claim (or part thereof) made through the SaveLend Marketplace will be concluded and documented through an automatically generated confirmation of assignment which will be made available on the relevant User Accounts.

    3.2 Offering, assignment and assumption of Claims

    3.2.1 The making of an Offer

    A Lending Company offers to assign a Claim (or a part thereof) on the SaveLend Marketplace in accordance with the terms and conditions separately agreed with SaveLend.

    A Reassigning Investor offers to assign a Claim (or a part thereof), and an Investor assumes a Claim (or a part thereof), on the SaveLend Marketplace in accordance with the General Provisions.

    An Offer to assign a Claim (or a part thereof) is binding on the Lending company or the Reassigning Investor (as applicable) from and including the time of registration of the Claim for assignment on the User Account of the assignor to and including the earlier of (i) the last day of the term of the Offer and (ii) the day SaveLend has registered the outcome of the Offer on the relevant User Accounts.

    3.2.2 Reassignment of an Assigned Claim

    A Reassigning Investor who wants to reassign an Assigned Claim shall register an Offer in respect of the Assigned Claim on its User Account. When registering the Offer, the Reassigning Investor shall specify the details of the Assigned Claim, the term for the Offer and the Purchase Price. SaveLend will, on behalf of the Reassigning Investor, publish the Offer on the SaveLend Marketplace and thereby make the Offer available to the other Investors.

    3.2.3 The acceptance of an Offer

    An Investor, who wants to assume a Claim (or a part thereof), in accordance with an Offer, shall register its acceptance of the Offer on its User Account. The amount of the Claim accepted to be assumed by the Investor shall be specified on the Investor’s User Account. Alternatively, the Investor may use SaveLend’s automated assignment service to register acceptance of Offers based on a set of pre-selected rules chosen by the Investor on its User Account.

    An Investor’s acceptance of an Offer is binding on the Investor until SaveLend has registered the outcome of the Offer on the relevant User Accounts.

    An Investor cannot register its acceptance of an Offer if the Purchase Price for the part of the Claim to be assumed by the Investor exceeds the amount of available funds deposited by the Investor with SaveLend. Provided that there are sufficient funds deposited by the Investor, SaveLend shall reserve an amount corresponding to the Purchase Price for the account of the Lending company or Reassigning Investor (as applicable) immediately when the Investor registers its acceptance of the Offer on its User Account.

    3.2.4 The assignment and the assumption

    A Claim (or a part thereof) will be deemed assigned by a Lending company or a Reassigning Investor (as applicable) to an Investor, and will be deemed assumed by the Investor, subject to the terms and conditions set out in the Offer and the General Provisions when the Investor has paid the Purchase Price in respect of the relevant part of the Claim and the assignment has been registered on the relevant User Accounts.

    Any interest, received in respect of a Claim until the time of assignment, shall not be transferred from the Lending company or the Reassigning Investor (as applicable) to the Investor by the assignment of a Claim (or a part thereof). For the avoidance of doubt, only the interest related to an Assigned Claim received from the time of the assignment of the Claim (or the relevant part thereof), shall be transferred from the Lending company or the Reassigning Investor (as applicable) to the Investor.

    The Lending company reserves its rights towards the Debtor for payment of interest as well as other Claims under a Loan Agreement or an Invoice to the extent that any such Claim is not assigned to an Investor.

    3.3 Payment of the Purchase Price

    The Purchase Price for the part of the Claim to be assumed by an Investor will be paid by way of SaveLend using the Funds deposited with SaveLend by the Investor and transferring an amount corresponding to the Purchase Price to the relevant Lending company or Reassigning Investor.

    Any payment of the Purchase Price received by SaveLend on behalf of the Lending company shall be treated as “escrow funds” (Sw. redovisningsmedel) and shall be held separately for the account of the Lending company in accordance with applicable laws and regulations.

    3.4 Payment of the Lending company Interest

    The Lending company shall pay the Lending company Interest in respect of an Assigned Claim on the dates specified in the Offer. Payment of the Lending company Interest shall be made to SaveLend. SaveLend shall receive the Lending company Interest on behalf of the Investor entitled thereto and distribute the amount to the Investor within five (5) Business Days.

    SaveLend, or any third party appointed by SaveLend, is authorised by the Investor to, on behalf of the Investor, demand and collect from the Lending company any payment of the Lending company Interest fallen due.

    3.5 Payments by the Debtor

    After the assignment of a Claim (or a part thereof), the Debtor shall continue to make all payments under the Loan Agreement or the Invoice (as applicable) to the Lending company in its capacity as Administrator unless otherwise instructed by SaveLend (acting on behalf of the Investor). The Investor is aware that this arrangement constitutes a risk that the Assigned Claim will not be protected from the Lending company’s creditors in case of an Insolvency Event. Neither the Lending company (or an Reassigning Investor), the Administrator nor SaveLend shall incur any liability or be held responsible for the failure by the Debtor to comply with its payment obligations under a Loan Agreement or an Invoice (as applicable) and SaveLend shall not incur any liability in respect of an assignment of an Assigned Claim not being duly perfected.

    SaveLend (acting on behalf of the Investor) may request that the Lending company notifies the Debtor of the assignment of a Claim (or a part thereof) and instruct the Debtor to make future payments in relation to the Assigned Claim to a successor Administrator. If such request is provided to the Lending company, the Lending company shall promptly send such notification and instruction to the Debtor. However, SaveLend shall always have the right to, on behalf of the Investor, give such notification and instruction directly to the Debtor.

    3.6 Distribution of Funds

    Any Funds received by the Administrator in respect of an Assigned Claim shall be distributed by the Administrator as follows:

    (a) if all Claims under a Loan Agreement or an Invoice have been assigned, the Administrator shall transfer all Funds to the relevant Investor(s) through SaveLend; and

    (b) if only a part of the Claims under a Loan Agreement or an Invoice has been assigned, Funds in the same proportion as the Assigned Claims bears to the Claims kept by the Lending company, shall be transferred to the relevant Investor(s) through SaveLend and the remaining part shall be retained by (or, if the Lending company is not the Administrator, transferred to) the Lending company.

    Provided that if the Lending company Interest is less than the interest to be paid by the Debtor in respect of the Assigned Claims, an amount corresponding to the difference between the Lending company Interest and the interest paid in respect of the Assigned Claims shall be deducted from the payment to the Investors and retained by or transferred to (as applicable) the Lending company.

    If the Lending company Interest exceeds the interest to be paid in respect of an Assigned Claim, the Lending company shall pay an amount corresponding to the difference between the Lending company Interest and the interest paid in respect of the Assigned Claims to SaveLend for distribution by SaveLend to the relevant Investor(s).

    Upon receipt of Funds or Lending company Interest from the Administrator, SaveLend will distribute the Funds and the Lending company Interest among all the Investors having assumed a Claim (or a part thereof) arising from the relevant Loan Agreement or Invoice in the following order:

    (i) first, in or towards payment pro rata by the relevant Investors of any unpaid amount owing to SaveLend in respect of the Assigned Claims;

    (ii) secondly, in or towards payment pro rata to the relevant Investors of any accrued interest (including any default interest payment) in respect of the Assigned Claims;

    (iii) thirdly, in or towards payment pro rata to the relevant Investors of any principal due but unpaid in respect of the Assigned Claims; and

    (iv) fourthly, in or towards payment pro rata to the relevant Investors of any other sum due but unpaid in respect of the Assigned Claims.

    The calculation of any amount subject to transfer by SaveLend in accordance with this paragraph shall be performed by SaveLend based on the information provided by the Administrator.

    3.7 Representations and warranties by the Lending company

    Upon registration of an Offer and for the term of the Offer, the Lending company represents and warrants to each Investor who accepts an Offer that:

    (a) it is duly incorporated and validly existing under the laws of its incorporation;

    (b) it is in compliance with applicable laws, regulations, international conventions and treaties, in particular with respect to measures against money laundering and financing of terrorism, save for any non-compliance which is insignificant to the business;

    (c) it has full power and authority to carry on its business as presently conducted and to execute and perform all of its obligations under the General Provisions;

    (d) it has full ownership over each Claim subject to assignment under the Assignment and Assumption Terms and no security, encumbrances or other third party right is in existence over such Claim;

    (e) the Debtor is not an affiliate or an entity within the same group as the Lending company; and

    (f) there is no action, suit or proceeding before any court or governmental authority, pending or, to its best knowledge, threatened which may affect the validity or enforceability of, or the Lending company’s ability to perform its obligations under, the General Provisions.

    In case the Offer relates to a Claim (or a part thereof) under a Loan Agreement, the Lending company represents and warrants to each Investor who accepts the Offer that:

    (a) there is no restriction applicable to the Lending company or the Loan Agreement which prevents the Lending company from assigning the relevant Claim;

    (b) the Loan has been disbursed to the Debtor under the Loan Agreement in the amount and on the date specified in the Offer;

    (c) the repayment dates and dates for payment of interest under the Loan Agreement in respect of the Loan are specified in the Offer;

    (d) the sum of any payments of principal made under the Loan before the date of the Offer is specified in the Offer; and

    (e) the Debtor has no right to set off any amounts owed by the Lending company to the Debtor against any amount owed by the Debtor to the Lending company under the Loan Agreement or in respect of the relevant Claim.

    In case the Offer relates to a Claim under an Invoice, the Lending company represents and warrants to each Investor who accepts the Offer that:

    (a) the service or goods invoiced on the Invoice have been supplied to the Debtor;

    (b) there is no restriction applicable which prevents the assignment of the relevant Claim;

    (c) the due date for payment of the Invoice is specified in the Offer;

    (d) the Debtor and the Lending company have not agreed on any amendments of the terms of the Invoice; and

    (e) the Debtor has no right to set off any amounts owed by the Lending company to the Debtor against any amount owed by the Debtor to the Lending company under the Invoice or in respect of the relevant Claim.

    3.8 Administration of a Claim

    When a Claim (or a part thereof) has been assumed by an Investor, the Lending company is authorised by the Investor to manage and administer the Assigned Claim in the interest and on behalf of the Investor. Such authorisation includes the authority for the Lending company to act as a lender or supplier (as applicable) in respect of an Assigned Claim towards the Debtor on behalf of the Investor until the Assigned Claim has been repaid in full (including, but not limited to, enforcing any security for such Claim).

    The Lending company has the right to delegate the debt collection arising from a Loan Agreement or an Invoice to any third party. The Lending company shall consult with SaveLend (acting on behalf of the relevant Investor(s)) before any delegation is made.

    When performing its duties as manager and administrator of Assigned Claims, the 

    Administrator shall act in the interests of the Investors with due care. The Administrator shall take all reasonable actions to ensure that an Assigned Claim and any rights pertaining thereto are not treated as the Administrator’s property. Any payment received by the Administrator on behalf of an Investor shall be treated as “escrow funds” (Sw. redovisningsmedel) and the Administrator shall in its record-keeping system keep the Assigned Claim separately from the Administrator’s assets.

    SaveLend (acting on behalf of the relevant Investor(s)) has the right to replace the Lending company (or any successor) as Administrator by appointing a successor as manager and administrator. The retiring Administrator shall make available to the successor such documents and records as SaveLend or the successor may request for the purposes of the successor being able to perform its functions as Administrator. Any successor Administrator shall upon its assignment confirm that it is bound by the General Provisions in its capacity as Administrator.

    If requested by the Administrator (or by SaveLend on behalf of the Administrator), the Investor shall issue an additional power of attorney to the Administrator for the performance of the Investor’s rights under a Loan Agreement or an Invoice.

    3.9 Amendments of a Loan Agreement or an Invoice

    Until a Loan has been repaid in full, the Lending company is entitled to amend the terms and conditions of a Loan Agreement, provided that such amendments do not result in any changes of the payments from the Debtor under the Loan Agreement or extended/postponed due dates or in any other way are detrimental for the Investor. The Lending company shall notify SaveLend of any amendment at least ten (10) Business Days before the amendment becomes effective. SaveLend shall promptly thereafter notify the relevant Investors of the amendment.

    The Lending company shall not have any right to amend any term set out in an Invoice.

    3.10 Buy back of an Assigned Claim

    The Lending company shall be obliged, upon SaveLend requesting so on behalf of an Investor, to immediately buy back an Assigned Claim from the relevant Investor if:

    (a) specified in the Offer and the Debtor delays a payment under the relevant Loan Agreement or Invoice by more than the number of days specified in the Offer;

    (b) the relevant Loan Agreement or Invoice for any reason is withdrawn, cancelled or disputed;

    (c) the relevant Loan Agreement for any reason or by any mean becomes invalid or unenforceable, in whole or in part, or it becomes impossible or unlawful for any party to the Loan Agreement to perform its obligations or exercise its rights under the Loan Agreement;

    (d) the relevant Invoice for any reason or by any mean becomes invalid or unenforceable, in whole or in part, or it becomes impossible or unlawful for the Investor to exercise its rights thereunder; or

    (e) any representation or warranty set out in Section 3.7 (Representations and warranties by the Lending company) or in the SaveLend Lending company Agreement is or proves to have been incorrect or misleading when made or deemed to be made.

    Further, if specified in the Offer, the Lending company has the right (but is not obliged) to buy back the Assigned Claim from the Investor.

    The buyback price of the Assigned Claim to be paid by the Lending company to the Investor shall be equal to the total amount of the remaining principal amount of the Assigned Claim together with any accrued interest up to the time when the Lending company fulfils its obligations to buy back the Assigned Claim.

    The buyback price constitutes the full and final payment to the Investor for the re-assignment of the Assigned Claim and any other related rights from the Investor to the Lending company.

    If the Lending company is not the Administrator, the Administrator shall notify the Lending company upon the occurrence of any event specified in (a)-(e) above and request that the Lending company pays the buyback price.

    The Lending company shall pay the buyback price to SaveLend within three (3) Business Days from the request by SaveLend on behalf of the Investor or from the request by the Lending company. If such a payment by the Lending company is not made within this time frame, interest on the outstanding amount shall accrue with a per cent rate per annum specified in the Offer, commencing on the due date.

    An Assigned Claim shall not be reassigned to the Lending company until the buyback price has been paid in full to and received by SaveLend for the account of the relevant Investor(s).

    3.11 Set-off

    Any payment to be performed by SaveLend on behalf of an Investor or a Lending company in respect of an Assigned Claimed, any amount due under a Loan Agreement or an Invoice or under the General Provisions shall to the extent possible be set off against any matured obligation owed by that Investor or Lending company to the receiver of such payment, regardless of the place of payment, booking branch or currency of either obligation.

    1. LOAN INTERMEDIATION

    4.1 Introduction

    SaveLend may act as an intermediary in respect of a Loan Application originating from Loanstep.

    A Loan Application from Loanstep which has been approved by SaveLend will be published on the SaveLend Marketplace and Investors will be offered to grant a Loan (or a part thereof) to the applicant.

    An Investor, who wants to grant a Loan (or a part thereof) on the basis of a Loan Application, shall register its acceptance of the Loan Application on its User Account. The amount of the Loan accepted to be granted by the Investor shall be specified on the Investor’s User Account. Alternatively, the Investor may use SaveLend’s automated assignment service to register its acceptance of a Loan Application based on a set of pre-selected rules (of which Loan Applications to accept) chosen by the Investor on its User Account.

    An Investor cannot register its acceptance of a Loan Application if the amount of the Loan to be granted by the Investor exceeds the amount of available funds deposited by the Investor with SaveLend. Provided that there are sufficient funds deposited by the Investor, SaveLend shall reserve an amount corresponding to the amount of the Loan to be granted by the Investor for the account of the Debtor immediately when the Investor registers its acceptance of the Loan Application on its User Account.

    When one or more Investors have registered its acceptance to grant a Loan in a total amount corresponding to the requested loan amount set out in the Loan Application (or an accepted minimum percentage of requested amount), and, where applicable, other terms set out in the Loan Application have been met, the Loan Amount will be paid out to the Debtor by SaveLend through Loanstep.

    The relevant Investors and Debtor will be deemed having entered into a Loan Agreement with each other in accordance with the terms and conditions set out in the Loan Application and the General Provisions. Loanstep Credit Terms (Sw. Loansteps Kreditvillkor) will also apply to each such a Loan in addition to any specific terms and conditions set out in the Loan Agreement. The specific terms for each Loan Agreement entered into with SaveLend as intermediary will be concluded and documented through an automatically generated confirmation of the Loan Agreement which will be made available on the relevant User Accounts.

    4.2 Reassignment of Loans

    A Reassigning Investor, who wants to reassign a part of a Loan granted with SaveLend as intermediary, shall register an Offer in respect of the Loan on its User Account. When registering the Offer, the Reassigning Investor shall specify the details of the Loan and the Loan Agreement, the term for the Offer and the Purchase Price. When SaveLend has approved the Offer, SaveLend will, on behalf of the Reassigning Investor, publish the Offer on the SaveLend Marketplace and thereby make the Offer available to the other Investors.

    4.3 Payment of interest and fees under Loan Agreements

    SaveLend will, on behalf of the Investor, administer any interest accruing on a Loan granted with SaveLend as intermediary and transfer any accrued interest due for payment in respect of such a Loan to the Investor(s) entitled thereto.

    Each Investor accepts that a payment of interest in respect of a Loan Agreement where there are several Investors will be distributed to all Investors pro rata to their part of the total amount of the Loan.

    SaveLend, or any third party appointed by SaveLend, is authorised by each Investor to, on behalf of the Investor, demand and collect from the relevant Debtor any payment, fees or interest fallen due.

    SaveLend has the right to charge the Investor for all costs SaveLend has for administering the Loan Agreement entered into with SaveLend acting as intermediary, including, but not limited to, all fees and penalty interest the Debtor pays in accordance with the Loan Agreement. The administration cost will never exceed the invested amount.

    In case the Lending company is replaced as Administrator, SaveLend has the right to charge the Investor for any fees and costs incurred in connection with the replacement and the new Administrator’s appointment.

    4.4 Distribution of Funds

    Any Funds received by SaveLend from a Debtor in respect of a Loan granted with SaveLend as intermediary shall be distributed by SaveLend among the Investors having granted that Loan in the following order:

    (i) first, in or towards payment pro rata by the relevant Investors of any unpaid amount owing to SaveLend in respect of the Loan;

    (ii) secondly, in or towards payment pro rata to the relevant Investors of any accrued interest (including any default interest payment) in respect of the Loan;

    (iii) thirdly, in or towards payment pro rata to the relevant Investors of any principal due but unpaid in respect of the Loan; and

    (iv) fourthly, in or towards payment pro rata to the relevant Investors of any other sum due but unpaid in respect of the Loan.

    1. AGREEMENT REGARDING THE INVESTOR’S USE OF THE SaveLend MARKETPLACE

    5.1 Responsibility of and confirmations by the Investor

    As regards Assigned Claims, the Investor shall not assume any responsibility or obligation to the Debtor under a Loan Agreement or an Invoice (as applicable) or the General Provisions.

    The Investor confirms and understands that:

    (a) the Assigned Claim may not contain all the Lending company’s Claims against the Debtor arising out of a Loan Agreement or an Invoice and the Investor may not become the only creditor of the Debtor under the relevant Loan Agreement or Invoice (as applicable);

    (b) SaveLend and the Administrator will manage the Assigned Claim together with the Claims assigned to other Investors pursuant to the General Provisions and in accordance with other terms separately agreed between SaveLend and the Administrator; and

    (c) the Assigned Claim does not have priority against claims of other creditors (including the Lending company) of the Debtor.

    (d)  All calculations of interest etc on SaveLend Marketplace are rounded, upwards, if necessary, to two decimal places.

    The Investor also hereby acknowledges having read and understood the SaveLend User Terms and Privacy Policy.

    5.2 Representations and warranties by the Investor

    Upon acceptance of an Offer or a Loan Application, the Investor represents and warrants to the Lending company and SaveLend that:

    (a) if a legal person (Sw. juridisk person), it is duly incorporated and validly existing under the laws of its incorporation; and

    (b) it has full power and authority to execute and perform all of its obligations under the General Provisions.

    (c) it is in compliance with applicable laws, regulations, international conventions and treaties regarding the use of SaveLend Marketplace.

    5.3 Escrow funds

    Funds deposited by an Investor with SaveLend shall be treated as “escrow funds” (Sw. redovisningsmedel) and shall be held separately for the account of the Investor in accordance with applicable laws and regulations until used for any payment to be made by SaveLend on behalf of the Investor.

    5.4 Withdrawals

    An Investor may at any time request a withdrawal of available funds (i.e., funds not invested in Claims or Loans) held by SaveLend for the account of the Investor. SaveLend shall distribute such funds to the bank account specified by the Investor. The Investor cannot withdraw funds which are reserved to be used to assume a Claim (or a part thereof) or grant a Loan or funds that are otherwise reserved by SaveLend.

    The Investor is entitled to make three (3) withdrawals per calendar year free of charge. For any additional withdrawals the Investor must pay a fee of fifty (50) kronor per withdrawal to SaveLend.

    5.5 Investor’s authorisation to SaveLend

    By accepting an Offer or a Loan Application, the Investor irrevocably authorises SaveLend to, on behalf of the Investor:

    (a) enter into any guarantee agreement or any other security agreement securing the obligations of the Lending company arising from the Assignment and Assumption Terms;

    (b) make amendments and sign supplement agreement to any guarantee agreement or security agreement entered into in respect of obligations of the Lending company arising from the Assignment and Assumption Terms;

    (c) enforce any security created for the benefit of the Investor in respect of obligations of the Lending company arising from the Assignment and Assumption Terms;

    (d) sell back the Assigned Claim to the Lending company in accordance with the terms and conditions specified in the Assignment and Assumption of Terms and/or the Offer;

    (e) in case of (i) an Insolvency Event having occurred in respect of the Lending company or the Administrator or (ii) the Lending company or the Administrator being in default under the Assignment and Assumption Terms:

    - recall the Lending company’s or Administrator’s (as applicable) appointment as Administrator and take over the management and administration of an Assigned Claim or appoint a third party as Administrator; or

    - notify the Debtor on the assignment of a Claim (or a part thereof) and demand the Debtor to make all payments arising from the Assigned Claim to SaveLend or to a new successor Administrator;

    (f) if the Lending company or Administrator fails to pay to the Investor on its due date any amount received from the Debtor which is payable to the Investor, demand and collect from the Lending company any default interest on the relevant amount;

    (g) take actions against a Debtor who does not comply with the terms and conditions set out in the Loan Agreement; and

    (h) in case of a Debtor being in default under a Loan Agreement:

    - take all actions against the Debtor necessary to collect the Assigned Claim; and/or

    - sell the Assigned Claim at market price either to SaveLend itself or to a third party (in which cases the Investor will be notified of the selling price and any credit loss).

    The authority granted by an Investor to SaveLend under this Section shall be in force for the entire duration of the Assigned Claim. The Investor undertakes to not recall the authorisation granted to SaveLend under the General Provisions.

    5.6 Service fee etc.

    The Investor shall pay a service fee to SaveLend for the service provided by SaveLend on the SaveLend Marketplace in accordance with the price list applicable from time to time.

    In case the Lending company is replaced as Administrator, SaveLend will have the right to charge the Investor for any fees and costs incurred in connection with the placement and the new Administrator’s appointment.

    The service fee will be deducted by SaveLend from funds deposited with SaveLend by the Investor.

    5.7 Credit losses

    The assumption of a Claim (or a part thereof) and the granting of a Loan can result in losses for the Investor. The Investor is solely responsible for its use of the SaveLend Marketplace and for any possible losses that may arise as a result of any agreements entered into with a Lending company or a Debtor on the SaveLend Marketplace.

    If the Debtor (or in case of buy-back, the Lending company) fails to make full payment under an Assigned Claim or a Loan, the Investors will receive payment pro rata in accordance with the General Provisions.

    5.8 Contacts with Debtors

    The Investor understands and is informed that as long as any Claim is outstanding under a Loan Agreement or an Invoice, the Investor shall not contact the Debtor directly in respect of a Claim, a Loan or the General Provisions. The Investor accepts to not visit the Debtor at its place of residence or business location nor communicate with the Debtor using social media or similar methods of communication for the purpose of or in respect of a Claim, a Loan or the General Provisions. Further, the Investor shall not request any payments directly from the Debtor nor make any claims against the Debtor or initiate any claims in court against the Debtor without SaveLend’s consent.

    The Investor furthermore understands and is informed that SaveLend and the Lending company are not obliged to disclose to the Investor the information and/or documents related to the debt collection proceedings against the Debtor. The Investor shall not make any complaints against SaveLend, the Lending company or the Debtor in this regard. 

    5.9 Right to limit, suspend or terminate Investor’s User Account

    SaveLend reserves the right to limit, block, suspend or terminate User Accounts if:

    (i) SaveLend, in our reasonable opinion, believe that the Investor have acted in violation of these General Provisions; or

    (ii) SaveLend are required to do so under any applicable law, regulation or an order issued by an authority;

    (iii) SaveLend suspect that an Investor use SaveLend Marketplace to engage in, attempt to engage in, or in connection with fraudulent or unauthorized manner, money laundering, terrorist financing or other financial crime; or

    (iv) SaveLend has reason to believe that an Investor have supplied false, misleading or deceptive information in connection with registration, identity verification; or

    (v) SaveLend has reason to believe unauthorized attempts are made to access Investors User Account.

    SaveLend will normally give the Investor notice of any limitation, suspension or termination of a User Account but may, if it is reasonable to do so (for example we consider it advisable for security reasons), limit, suspend or terminate your user account without prior notice.

    The Investor understands that the decision to limit, suspend, terminate or terminate a user account, may be based on confidential criteria that are essential to risk management, anti-money laundering or other policies by SaveLend. SaveLend has no obligation to disclose the details of such policies and security procedures.

    In the event that the SaveLend limits, suspends or terminates an Investor User Account, SaveLend will lift the suspension as soon as possible once the reasons for the suspension or termination no longer exist. 

    1. MISCELLANEOUS GENERAL PROVISIONS

    6.1 Payment transactions

    Any payment transaction on SaveLend Marketplace is executed by SaveLend Europe AB, reg. no. 559097-7046 (“SaveLend Europe”), a licensed Swedish payment institution under the supervision of the Swedish Financial Supervisory Authority.

    6.2 Set-off

    Any payment to be performed by SaveLend on behalf of an Investor or a Lending Company in respect of an Assigned Claimed, a Loan, a Loan Agreement, an Invoice or under the General Provisions shall to the extent possible be set off against any matured obligation owed by that Investor or Lending Company (as applicable) to the receiver of such payment, regardless of the place of payment, booking branch or currency of either obligation.

    6.3 Confidentiality

    “Confidential Information” means any information received by either party in connection with the services provided by SaveLend under the General Provisions, which is information derived from the other party (however acquired and in whatever form), except any information which:

    (a) was already publicly known at the time of its disclosure, or becomes publicly known otherwise than through an act of the receiving party;

    (b) is demonstrably developed at any time by the receiving party without any connection with the information received when using the SaveLend Marketplace; or

    (c) is rightfully obtained at any time by the receiving party from a third party without restrictions in respect of disclosure or use.

    Each party undertakes not to disclose any Confidential Information unless:

    (a) required to do so by law or pursuant to any order of court or the competent authority or tribunal;

    (b) required to do so by any applicable stock exchange regulations or the regulations of any other recognised market place or financial regulatory authority;

    (c) such disclosure has been consented to by an authorised signatory of the other party in writing (such consent not to be unreasonably withheld);

    (d) such Confidential Information has been made available to the public by other means than breach of the General Provisions;

    (e) such disclosure of Confidential Information is made in order to, in the best possible way, look after a party’s interests in relation to the other party as a result of a dispute relating to the General Provisions; or

    (f) it is disclosed to its professional advisers who are bound to the party by a duty of confidence which applies to any information disclosed.

    If a party, in circumstances contemplated by paragraph (a) or (b), becomes required to disclose any Confidential Information, the disclosing party shall consult with the other party prior to any such disclosure.

    The restrictions contained in this Section 6.3 shall continue to apply following the termination of the General Provisions by SaveLend, a Lending Company or an Investor.

    6.4 Force majeure

    SaveLend shall not be responsible or liable in any way for failure or delay when providing the services related to the SaveLend Marketplace resulting from any cause or circumstance beyond its reasonable control, including, but not limited to, fire, flood, other natural disasters, war, terrorist attack, labour strike, interruption of transit, accident, explosion, civil commotion, and any laws, rules, regulations or other acts of any governmental authority.

    6.5 Term and Termination

    The General Provisions shall enter into force among a Lending Company, an Investor and SaveLend on the date the Lending Company or the Investor (as applicable) is approved by SaveLend as Lending company or investor and remain in force until further notice. The General Provisions may be terminated by a Lending Company  or an Investor at any time provided that the Lending Company or the Investor does not have any obligations in respect of the General Provisions or any outstanding Loan Agreement or Assigned Claim.

    SaveLend is entitled to terminate the General Provisions in respect of if an Investor with immediate effect :

    (a) the Investor commits a material breach of its obligations under the General Provisions or SaveLend User terms;

    (b) there is reasonable cause to suspect money laundering or terrorist financing with the involvement of the Investor of the User Account;

    (c) the Investor has provided false or misleading information when registering as a User, applying for a User Account or thereafter; or

    (d) in case of pending litigation.

    If the General Provisions are terminated by SaveLend, it shall continue to apply in respect of any Assigned Claim, Loan, Loan Agreement or Invoice which is outstanding and for any distribution of Funds to be made after the termination.

    6.6 Amendments

    SaveLend shall have the right to amend or modify the General Provisions to the extent necessary due to a change of law or authority decision. Such amendment shall be notified to the relevant Lending Companies and Investors through the User Account and/or by e-mail at least fourteen (14) days before the change enters into force.

    SaveLend also reserves the right to make changes, amendments and additions to the General Provisions. SaveLend shall notify the relevant Lending Companies and Investors through the User Account and/or by e-mail at least thirty (30) days before the change enters into force. If a Lending Company or Investor does not accept the changes, SaveLend has a right to terminate the user account.  

    6.7 Assignment

    Neither a Lending Company nor an Investor may assign its rights or obligations under the General Provisions, in whole or in part, to any third party without the prior written consent of SaveLend.

    SaveLend may assign its rights and obligations under the General Provisions, in whole or in part, to a third party.

    6.8 Duty to provide information

    SaveLend is entitled to provide information regarding the identity and contact details of an Investor to a Lending Company and, if applicable, its bankruptcy estate or trustee, creditors and liquidator, or at the request of any authority.

    6.9 Tax

    SaveLend is not responsible for any tax consequence of any transaction performed by any Investor or Lending Company on the SaveLend Marketplace.

    According to Swedish law SaveLend withholds preliminary tax for all physical Investors with residency in Sweden. The preliminary tax is reported and paid to the Tax Agency (sw. Skatteverket) by SaveLend.

    SaveLend is not responsible for reporting and payment of preliminary tax for Investors who are legal entities or non-Swedish residents.

    6.10 Governing law

    Unless otherwise stipulated in any applicable mandatory law or regulation, these terms and conditions shall be governed by Swedish law.

    6.11 Disputes

    In the event of a dispute arising out of or relating to these Terms and Conditions (including any question regarding its existence, validity or termination), the parties involved shall first seek settlement of that dispute by mediation or negotiation.

    If the dispute is not settled by mediation or negotiations, the dispute shall be settled by the District Court of Stockholm.

  • GENERAL TERMS AND CONDITIONS FOR ACCOUNTS AND PAYMENT SERVICES 

    Information about SaveLend Europe AB 

    SaveLend Europe AB 
    CRN: 559097-7046
    Kammakargatan 7
    111 40 Stockholm

    Phone: +46 (0)8 124 460 67
    Website: www.savelend.se 
    Registered domicile: Stockholm 

    SaveLend Europe AB herein designated “SaveLend”. 

    SaveLend is a payment institution licensed to perform payment services. SaveLend is under the jurisdiction of the Finansinspektionen (Swedish Financial Supervisory Authority) and is registered with the Bolagsverket (Swedish Companies Registration Office). 

    General terms and conditions for accounts and payment services (herein “general terms and conditions”). 

    1. INTRODUCTION 

    These general terms and conditions apply only to consumer account holders. The account shall be disposed of by the account holder and any other person they assign that right through power of attorney. 

    1. DEFINITIONS 

    The following terms and definitions shall have the meaning presented below unless otherwise obvious from the context or circumstances. 

    Banking day: All days other than Saturday, Sunday, Midsummer day, Christmas Eve, or New Year’s Eve or other public holiday. 

    Payment account: The account designated for executing payment transactions for deposit or withdrawal. The account holder may use the funds in a payment account to invest in loans, receivables, or other types of lending that are included from time to time in the SBL Finans AB product information leaflet and which is presented on the brokerage platform. 

    Brokerage platform: Electronic bulletin board at www.savelend.se and which is provided by our sister company SBL Finans AB. 

    Payment initiation service: An on-line service to enable the account holder to initiate on request a payment order from a payment account held with another payment service provider.

    Payment order: An instruction that an account holder (or payment recipient) issues to SaveLend to complete a payment transaction. 

    Payment transaction: Deposit, withdrawal, or transfer of funds, regardless whether the transaction was initiated by the payer or the payee. 

    Account holder: The person whose account is maintained by, and who is creditor in relation to, SaveLend in relation to the balance in the account. 

    Account information service: An online service to provide compiled information relating to one or more payment accounts that the account holder has with one or more other payment service providers. 

    Mobile unit: Mobile phones, tablets, and portable computers, or other similar equipment that has Internet and mobile data access. 

    Unauthorized transaction: A transaction conducted without the consent of the account holder or other authorized representative for that account as per the account contract. 

    Third party: Any other payment service provider than SaveLend who has requisite permit or is registered to provide payment initiation services and/or account information services. 

    Unique identification code: The combination of letters, numbers, or symbols such as bank account numbers, IBAN, or mobile phone numbers and which the account holder shall submit with a payment order to unambiguously identify the payment recipient or their bank account. 

    1. GENERAL INFORMATION REGARDING YOUR PAYMENT ACCOUNTS

    3.1 Fees and expenses 

    SaveLend does not charge a fee for providing payment services or a payment account. 

    If SaveLend plans to charge fees for providing the above services, SaveLend shall provide notification thereof to the account holder and any such change will first take effect no earlier than 60 days after such notification. 

    3.2 Interest 

    The account holder is not entitled to interest paid on deposited funds and that are not utilized as with purchasing receivables or portions of loans. 

    1. EXECUTION OF PAYMENT TRANSACTIONS 

    4.1 General 

    Payment transactions may be conducted using the SaveLend internet service. To enable you to access the SaveLend payment services, you must create a user account on the brokerage platform and thereby approve the terms and conditions for use with SBL Finans AB, which includes “Agreement regarding the investor’s use of the SaveLend Marketplace” (Svenska. “SaveLends villkor för kreditgivare”).

    Access to the SaveLend payment account and payment services may be limited (for security or other reasons) such as through authorization limits. 

    Planned maintenance and operational interruptions shall be scheduled to times when demand for services is typically low, unless special circumstances require differently. Information regarding such interruptions in service is published on the website. 

    Where special circumstances do exist, SaveLend has the right, without advance notice of contract termination, to limit or change the content of services or opening hours. 

    The account holder can use payment services such as payment initiation and account information services that are provided by third parties. Having the SaveLend account available online to the account holder through SaveLend is a prerequisite for this. 

    Use of such payment initiation and account information services requires a separate agreement between the account holder and such third party. Such agreement shall not affect the provisions in these general terms and conditions unless otherwise expressly stated herein. 

    4.2 Account holder's undertaking to protect the payment instrument and personal authorization function 

    Login to the payment account on the brokerage platform and approving the payment order is done electronically using the payment instruments that SaveLend provides or accepts. When you approve these terms and conditions for use, combined with the ‘Agreement regarding the investor’s use of the SaveLend Marketplace,’ as account holder you undertake to protect the payment instrument and the personal authorization functions linked to your instrument. The account holder accepts and is fully aware of their obligation to block the payment instrument if it is lost or whenever you suspect its unauthorized use. 

    4.3 Registering and approving the payment order 

    4.3.1 General terms regarding approving payment orders 

    Approval to conclude a payment order can be submitted to SaveLend directly, or when appropriate, to a third party. If a payment order is not approved by the account holder or other authorized representative under the contract, then such payment order shall be considered unauthorized. If the payment order is approved directly with SaveLend, then the provisions of this paragraph shall apply in conjunction with those in subparagraph 4.3.2. 

    4.3.2 Approval using the SaveLend Internet service 

    The account holders approve the payment transaction when logged in at the brokerage platform. The Internet service and Mobile service provide detailed instructions regarding how payments are registered and electronically signed. The account holder is responsible to read through the information and provide their signature only after ascertaining that all the details are correct. After signing the assignment or payment order, the receipt is shown, with information that it has been set for monitoring as a payment due. 

    4.4 Receipt of payment orders 

    A payment order is received by SaveLend only after it is approved by the account holder and registered. When the order is registered and signed on a day that is not a banking day, or if on a banking day but after 12:00 noon, the payment order is considered received the next banking day. 

    A payment order that SaveLend has refused to execute in accordance with paragraph 4.9 below, shall be considered not received by SaveLend. 

    4.5 Execution date 

    When conducting payment transactions, SaveLend is liable to ensure amounts are available to the payment recipient’s bank no later than three banking days after the payment order is received by SaveLend. 

    4.6 Responsibility for executing payment orders 

    The account holder is responsible to ensure the data submitted in the payment order is complete and correct, and that sufficient funds are available in their account to execute the payment transaction. SaveLend is then responsible to transfer the amount to the payment recipient's bank. If SaveLend can demonstrate that the recipient bank has received the transaction, then the recipient bank is responsible to ensure the amount is made available to the recipient. Where the payment recipient’s bank returns the amount to SaveLend, then SaveLend will return the funds to the account holder's payment account. 

    If a payment transaction is executed using a unique identification code, the transaction shall be considered correctly executed to the payment recipient specified in the unique identification code. This shall also apply when the account holder has provided information additional to the unique identification code. 

    SaveLend is not liable when the unique identification code provided by the account holder is incorrect. SaveLend is not liable to determine whether the unique identification code is correct or not. However, on request of the account holder, SaveLend shall take reasonable action to obtain a refund of the funds so transferred in the payment transaction. SaveLend has the right to charge a specific fee for such services. 

    SaveLend is liable for deposits and incoming transfers as specified below in paragraph 5. 4.7 Responsibility regarding failed or improperly executed payment orders 

    If the amount of the payment transaction is not transferred to the payment recipient's bank or the transaction fails otherwise despite the prerequisites therefore being fulfilled, then SaveLend shall, without unnecessary delay, repay the amount or restore the account balance to a position equivalent to what it would have been if the incorrectly executed transaction had not occurred. The account holder also has the right to compensation for fees and interest lost to them due to the failed or incorrect transaction execution, and they are not the cause therefore. 

    If the account holder has submitted incorrect information in the payment order, such as an incorrect account number, then SaveLend is not responsible for the failed or improperly executed payment transaction. However, on request of the account holder, SaveLend shall take reasonable action to obtain a refund of the funds so transferred in the payment. SaveLend has the right to charge a specific fee for such service. 

    Regardless whether SaveLend is liable as per the first paragraph above, SaveLend shall, as soon as possible after request from the account holder and at no added charge to the account holder, attempt to trace the payment transaction and notify the account holder of the results thereof. 

    4.8 Unauthorized transactions 

    4.8.1 Repayment of an unauthorized transaction 

    If an unauthorized transaction is executed from the account holder's account, they shall submit a claim therefore as provided in paragraph 4.10 below. SaveLend shall restore the account to a position equivalent to what it would have been if the transaction had not been executed, unless otherwise provided in subparagraphs 4.8.2 to 4.8.4. 

    If SaveLend has repaid an amount to the account holder and SaveLend thereafter determines that the transaction was authorized or that the account holder did not have the right to such repayment, then the account holder is liable to reimburse the amount repaid. In such a case, SaveLend has the right to charge the account holder’s account for the amount in question. 

    4.8.2 Payment liability for unauthorized transactions (applies only to consumers) 

    If unauthorized transactions from the account holder's account could be executed due to the account holder failing to protect their personal authorization function, then they are liable for the amount, though not for more than SEK 400. 

    If unauthorized transactions could be executed due to disregard of a responsibility provided in paragraph 4.2 through gross negligence, then the account holder is liable for the entire amount, though not more than SEK 12,000. If the account holder has acted with willful misconduct, they shall be liable for the entire loss. 

    Regardless of the above, the account holder is not liable for any amount charged to their account after the account holder has notified that their payment instrument shall be blocked. This also applies to when strong customer authentication is not used when the transaction is initiated electronically. However, the provisions of this paragraph shall not apply if the account holder has caused or contributed to the unauthorized transactions by fraud. 

    The account holder shall be liable for the entire amount if they fail to notify SaveLend regarding the unauthorized transaction without unnecessary delay after obtaining knowledge of such unauthorized transaction (notification of claim) as provided in paragraph 4.10. 

    4.8.3 Payment liability for unauthorized transactions (applies only to companies) 

    If an unauthorized transaction is executed, the account holder shall submit a claim therefore as provided in paragraph 4.10 below. Unless otherwise required by this subparagraph, SaveLend shall repay the amount and restore the charged account to a position equivalent to what it would have been if the unauthorized transaction had not been executed. 

    If SaveLend has repaid an amount to the account holder and SaveLend thereafter determines that the transaction was authorized or that the account holder did not have the right to such repayment, then the account holder is liable to reimburse the amount repaid. In such a case, SaveLend has the right to charge the account holder’s account for the amount in question. 

    Where the unauthorized transaction was caused by the account holder or their representative through negligence in failing to perform their obligations under the contract or other contract terms referenced in these general terms and conditions, the customer shall be liable for the loss and SaveLend shall be held harmless. This shall apply even when strong customer authentication is not used when the transaction is initiated. 

    However, the account holder is not liable for loss due to unauthorized transactions executed after the account holder or their representative has notified that their payment instrument shall be blocked. However, this does not apply to where the account holder or their representative has acted fraudulently. 

    4.8.4 Other authorized user 

    If another person than the account holder is authorized to use a payment instrument associated with the account holder’s account, the account holder shall be responsible for unauthorized transactions from the account and which are executed with that other person's payment instrument, as if the account holder had acted on their own. 

    4.9 Refusal to execute a payment order 

    SaveLend may refuse to execute a payment order even when the prerequisites as described in paragraph 4.6 above are fulfilled if such action would conflict with currently applicable law. In such a case, SaveLend shall notify the account holder in this regard, and if possible state their grounds for such refusal. If such refusal to execute a payment order is based on reasonable grounds, the bank has the right to charge a separate fee for such notification. 

    Where SaveLend receives a payment order initiated through a third party and SaveLend determines this should not be executed, then SaveLend shall notify the account holder through the SaveLend Internet service. 

    4.10 Claims 

    The account holder shall obtain and review information regarding executed payment transactions as made available to them through account notices, withdrawal receipts, account statements, or otherwise as quickly as possible. 

    As soon as possible after obtaining knowledge of an unauthorized transaction, or a failed or incorrectly executed payment transaction, the account holder shall notify SaveLend to request corrections (notify of claim). However, notification to SaveLend may not be made later than 13 months after the billing date. When such a claim is made late, the account holder may not claim the error against SaveLend. 

    When making such a claim, the account holder shall first refer to the SaveLend customer service as presented at https://savelend.se/investera/kundtjanst. See also the Complaints, and Dispute resolution sections below. 

    The account holder shall also notify SaveLend as per this subparagraph (4.10) for unauthorized or incorrectly executed transactions initiated by a payment initiation service provider service provider (third party). 

    1. PARTICULAR INFORMATION REGARDING DEPOSITS OR INCOMING TRANSFERS 

    For deposits or incoming transfers to the account, shall place the funds at the disposal of the account holder by crediting their account immediately after SaveLend has received the funds and information related to the deposit or transfer. Where information regarding the account is lacking or incorrect, SaveLend shall notify the account holder that the funds are available at SaveLend.

    If the payer's bank can demonstrate that SaveLend has received the payment transaction, then SaveLend is liable to ensure the correct execution of the payment transaction. In such case SaveLend shall ensure the amount of the payment transaction is immediately made available to the account holder or credited to their account in a corresponding amount under the condition the account holder has claimed the transaction as provided in paragraph 4.10 above. 

    SaveLend has the right to recover the funds from the account if the deposit was made in error, as when the amount is credited to the wrong recipient or an incorrect excess amount is deposited. 

    1. OTHER 

    6.1 Information and technology 

    6.1.1 Communication means and technical requirements 

    To use the brokerage platform, you must have an Internet connection. Such a connection requires that you have certain technical equipment such as a computer or mobile unit, and access to some type of operating system and a web browser. Information regarding the types of web browser required from time to time to have access to the Internet service may be obtained from customer support. The customer is responsible for their own access to requisite technical equipment and software for the Internet service at all times, and is liable for any connection costs. 

    6.1.2 Information regarding executed payment transactions 

    Information regarding executed payment transactions to or from the payment account shall be made available when logged in to the brokerage platform. This information is provided on request to the account holder or is sent as specified in subparagraph 6.2.1. The account holder shall have the right at all times to request free of charge to receive such account statements by postal delivery, though not more than once monthly. SaveLend has the right to deny sending such account statements if no payment transactions were executed for the account during the specified period. 

    6.1.3 Language 

    These general terms and conditions are presented in English and are also available in Swedish. Swedish and English are the languages used for contacts with the account holder. 

    6.2 Notifications 

    6.2.1 General 

    All notifications under the contract shall be in writing and sent by way of messenger, postal delivery, or email and shall be sent to the counterparty at the address specified in the contract or to a different address as that party has specified in writing. Any notifications sent shall be considered received as per the following: (i) Personal delivery - on delivery, (ii) by messenger - on delivery, (iii) by postal delivery - three working days after dispatch (iv) by email - on receipt by the email recipient with authorization to represent the party and who is specified in the contract between the parties. 

    Any change of name, address, e-mail address, or phone number shall be notified to SaveLend immediately.

    6.2.2 Notification of amendments to terms and conditions 

    Notification of amendment to any terms and conditions shall be made through an electronic communication service such as the Internet service or the Mobile service and considered received by the account holder as soon as the notification is available and SaveLend has informed the account holder thereof through an electronic notification such as email or other electronic communication. 

    6.2.3 Notification for unauthorized use and security risks 

    SaveLend shall notify the account holder of unauthorized use or other security risks by phone, text, the Internet service, the Mobile service, or at www.savelend.se. On such contact SaveLend shall never request sensitive information or codes related to the account holder's payment instrument, such as card details, login codes or signature credentials. When SaveLend does contact the account holder by phone or text, the account holder shall always call back to SaveLend at +46 (0)8 124 460 67 or other specified phone number presented at www.savelend.se. 

    6.4 Amendment to the contract terms 

    SaveLend has the right to amend the general terms and conditions and where applicable the pricing schedule without prior termination of the account contract. Such amendments shall be announced not less than two weeks prior to their entering into force unless such amendment is made due to authority requirements or new legislation. Where the account holder does not approve the amendments, they have the right to immediately terminate the contract for the account or service affected by the amendment before these enter into force. Such amendments are considered approved by the account holder when they do not provide such notification. 

    The account holder always has the right to request and receive the latest version of these general terms and conditions free of charge. 

    6.5 Validity 

    If any single provision in these general terms and conditions is found unenforceable, any such provision shall be modified and stated to the extent possible under applicable law in such a way that it is enforceable, and all other provisions shall remain valid. If the unenforceable provision cannot be amended or modified, then it shall be deleted from the contract and all other provisions in the contract shall remain valid. 

    6.6 Contract period and notice of termination 

    The contract for an account and payment services shall apply until further notice. The account holder has the right to terminate the contract in its entirety at any time. 

    SaveLend has the right to terminate the contract in its entirety with the following notice periods: (i) for consumer account holders two months; or (ii) for company account holders – one month. 

    SaveLend has the right to immediately stop or temporarily block the account holder's use of the account or payment service when:

    (i) The account holder breached these general terms and conditions for the accounts and payment services, the SaveLend general terms and conditions for the brokerage service, or other instructions or agreements that may apply to a specific account or service. (ii) Reasonable grounds are present to assume that the account holder will not fulfil their payment obligations toward SaveLend. 

    (iii) The account holder has been dishonest toward SaveLend. 

    (iv) Suspected money laundering or terrorist financing, or the risk that SaveLend benefits such criminal activity in any way through providing the account. 

    (v) SaveLend has assessed the presence of suspicion that the account or any service is used or will be used for or in connection with criminal activity, or otherwise in contravention of applicable laws or otherwise in such a manner as to cause harm to SaveLend or other persons.

    (vi) No transactions have been executed for the account within the last 24 months. 

    Notice of termination shall be in writing. 

    6.7 Limitation of liability for SaveLend 

    SaveLend is not liable for loss due to Swedish legislative act, act of a Swedish authority, war or hostilities, strike, blockade, boycott, lockout, pandemic, or other similar circumstance beyond the control of SaveLend. The provision regarding strikes, blockades, boycotts and lockouts shall also apply should SaveLend be the object of or take such action. Losses incurred under other circumstances shall not be compensated by SaveLend if they have acted with ordinary care. 

    Regarding execution of payment services, the first paragraph, SaveLend shall not be liable for exceptional or unpredictable circumstances that SaveLend has no influence over for which the consequences thereof were impossible for SaveLend to predict or avert despite all efforts. 

    SaveLend is not liable in any case for indirect loss unless that loss was caused by the gross negligence of SaveLend. 

    Should SaveLend be prevented from executing payments or taking other actions due to circumstances specified above, such action may be delayed until the cause for such delay has ceased. 

    6.8 Personal data 

    In approving these general terms and conditions, SaveLend collects and processes your personal data. All personal data processing is conducted in accordance with applicable laws for data protection. We strongly recommend that you, as account holder, read and understand our personal data policy (published at the following link, Section 2: 

    https://savelend.se/investera/villkor) before you use our services. Further information regarding the personal data processor current from time to time is published at: 

    https://savelend.se/investera/privacy. 

    SaveLend is the personal data controller to the processing of personal data involved. If you have questions regarding personal data processing by SaveLend you may address our data protection officer whose contact data is: 

    Email: dpo@savelend.se 

    By postal delivery: SaveLend Europe AB, Att: Data protection officer, Kammakargatan 7, 111 40 Stockholm.

    You also have the right at all times to contact the SaveLend Complaints Manager (see paragraph 6.9 below) or the Swedish Authority for Privacy Protection regarding any complaints relating to the processing of personal data. 

    6.9 Complaints 

    Swedish law shall apply to disputes arising from this contract. 

    Complaints regarding the services SaveLend provides should first be addressed to SaveLend at the contact data published at https://savelend.se/kundtjanst. If the account holder is not satisfied thereafter you may address the complaints manager at SaveLend Europe AB, Att: Complaints Manager, Kammakargatan 7, 114 40 Stockholm. SaveLend can respond to account holder complaints verbally, as by telephone, or by email or postal delivery. 

    The account holder may also obtain answers and information regarding payment services and complaints from the Konsumenternas Bank och finansbyrå (independent consumer advocate organization in Sweden) or where appropriate, a local municipal consumer protection agency. 

    6.10 Dispute resolution 

    Swedish law shall apply to disputes arising from this contract and the first instance shall be the Stockholm District Court. If the account holder is a consumer, then any claim shall be filed in the local district court for their place of domicile. 

    In case of dispute with SaveLend, the account holder may submit their claim to the National Board of Consumer Disputes (ARN, Allmänna reklamationsnämnden) which is a board for alternative dispute resolution . Address: ARN, Box 174, 101 23 Stockholm. The ARN website has the address: www.arn.se. Any claim with the ARN shall be in writing. Certain time and value limits apply to whether the ARN may consider a matter. SaveLend agrees to participate in dispute resolution under ARN’s authority.

  • Terms of use for SmartInvest 

    Last changed: 23 September 2021 

    These terms of use (Terms herein) apply between SBL Finans AB (publ) (556933-0961), (SaveLend herein) and you as natural person (who we refer to as you, investor herein), where SaveLend provides services for automatic investment as described in these terms (SmartInvest herein). SmartInvest is a supplemental service to the SaveLend Marketplace for lending (SaveLend Marketplace herein) that is available at www.SaveLend.se. You accept these terms and enter a contractual agreement for SmartInvest when you activate SmartInvest from your user account at the SaveLend Marketplace. 

    1. Using SmartInvest 

    1.1 The SaveLend Marketplace brokers loans and receivables for loans. Loans that are brokered vary in type and are from various lenders (Lending companies herein). SmartInvest is a technical aid that enables automatic subscription and transfer of these loans and receivables for the loan notes brokered at the SaveLend Marketplace. 

    1.2 When you activate SmartInvest, all offers to transfer loan notes and receivables for the loan notes brokered at the SaveLend Marketplace are automatically and continually accepted when they match your selected SmartInvest criteria. The offers to transfer accepted pursuant to the previous paragraph shall, unless otherwise specified in SmartInvest, include all loan types from all Lending companies available on SaveLend Marketplace at that time, and shall include offers available on the second-hand market. 

    1.3 You can change your settings in SmartInvest at any time, which includes changing the types of loans you want to automatically invest in at the SaveLend Marketplace. 

    1.4 To use SmartInvest, you must (i) be of legal age and legally competent to enter contractual agreements, (ii) have read and accepted the SaveLend terms for investors (SaveLend General Provisions), and (iii) been accepted as investor at the SaveLend Marketplace. 

    1.5 SaveLend retains the right to block your account without warning for any suspicion of improper use of SmartInvest. 

    2. Changes to SmartInvest 

    2.1 SaveLend has the right to implement updates and new versions of SmartInvest to the extent that SaveLend finds appropriate. SaveLend also has the right to implement changes to SmartInvest or the manner in which the service is provided.

    2.2 SaveLend has the right to continually and without your express acceptance, include new types of loans and new Lending companies to the offers to transfer loans and receivables for loan notes that are covered by SmartInvest. SaveLend shall issue notification of such changes to SmartInvest as specified in this paragraph no later than two weeks in advance of their implementation regarding any new types of loans and/or Lending companies to be included. You shall receive notification thereof by (i) email regarding the change sent to your registered address, (ii) publication of the changes on our website, or (iii) you receive notification of the change otherwise. 

    3. Amendment to these terms 

    3.1 SaveLend has the right to amend these terms at any time. SaveLend shall notify you as soon as practically possible of such amendment, by (i) sending you notification of the amendment to your registered email address, (ii) publishing the amendments on our website, or (iii) you receive notification of the change otherwise. 

    3.2 However, material amendments (such as SaveLend intends to charge a fee for SmartInvest) shall require your express acceptance. If you do not accept the amendment to these terms, you always have the right to terminate this contractual agreement regarding SmartInvest with SaveLend. 

    4. Liabilities and risks 

    4.1 Acquiring loans or receivables for loan notes through the SaveLend Marketplace, whether manually or through SmartInvest, will always involve financial risk. The risk exists that the receivables transferred on the SaveLend Marketplace are not legally protected against third parties. You alone are responsible for your use of SmartInvest and for all possible losses that may arise due to the contracts entered through SaveLend Marketplace and due to use of SmartInvest. 

    4.2 SaveLend is responsible to you at the time SmartInvest is implemented to the extent provided in the Swedish Payment Services Act (2010:751) and other applicable legislation, ordinances, and regulations applying to payment services. SaveLend is also liable for loss for any harm that SaveLend caused you due to breach of these terms. However, SaveLend shall not be liable for indirect loss or other consequential losses, unless SaveLend has acted with gross negligence. SaveLend’s liability is also limited to loss due to negligence by SaveLend and is not related to breach of contract or any action of yours. 

    4.3 SaveLend shall not be liable in relation to any third party for any direct or indirect loss or damages arising from providing SmartInvest. 

    4.4 SaveLend is not liable for damage or loss you suffer due to your failure to manage your login credentials correctly or safely. 

    5. Termination 

    5.1 The contractual relationship with SaveLend regarding SmartInvest as provided in these terms shall remain valid until further notice. This means that they shall remain valid until terminated by you or by SaveLend. You terminate the contract by cancelling SmartInvest. You may pause or cancel SmartInvest at any time. 

    6. Additional 

    6.1 SaveLend has the right to transfer all their rights and liabilities under these terms to another company within the group. Further, SaveLend has the right to hire subcontractors for fulfillment of their obligations as provided in these terms. 

    6.2 All processing of personal data performed in relation to providing SmartInvest services is done in full compliance with the SaveLend Personal Data Policy as published at https://savelend.se/villkor-och-privacy.

  • 1 INTRODUCTION

    These special provisions (the "Special Provisions") were issued by SaveLend on 9th of april 2021 for users that want to invest in Loans granted by an Originator, hereby defined as Lending company, to a Debtor, by granting Lending company Loans on the terms set out herein, and shall apply to Investors who invest in Lending company Loans as creditors in addition to the General Provisions issued by SaveLend.

    If there is any inconsistency between these Special Provisions and the General Provisions, the Special Provisions shall prevail. References to any document shall be references to the same as amended, varied, supplemented, replaced and restated in any manner from time to time.

    Risk information

    Please note that repayment of a Lending company Loan is conditional upon the Lending company receiving payments from the Debtor under the relevant Loan Agreement and that the users of the SaveLend Marketplace right to the payments received by the Lending company from the Debtors may not be protected against a third party in the event of the insolvency of a Lending company.

    2 DEFINITIONS

    In these Special Provisions words and expressions shall (unless otherwise expressly defined in these Special Provisions) have the meaning given to them in the General Provisions and:

    "Claim" means each claim against a Debtor under a Loan Agreement (including, but not limited to, the outstanding amount of the Loan, interest, any default interest and any other payments to be made by the Debtor to the Lending company in accordance with the Loan Agreement).

    "Debtor" means the [consumer] borrower under a Loan Agreement.

    "Funds" means any funds received from the Debtor as payment in respect of a Loan.

    "Loan" means a loan granted by a Lending company to a Debtor under a Loan Agreement.

    "Loan Agreement" means a loan agreement evidencing a Loan entered into between a Debtor and the Lending company as lender.

    "Lending company" means a person registered on the SaveLend Marketplace as a Lending company.

    "Lending company Interest" means the interest payable by the Lending company to an Investor in respect of a Lending company Loan.

    "Lending company Loan" means a risk participation loan granted or to be granted by an Investor to a Lending company through the SaveLend Marketplace under a Lending company Loan Agreement to fund a Loan.

    "Lending company Loan Agreement" means the loan agreement evidencing a Lending company Loan entered into between a Lending company as borrower and an Investor as lender.

    "Lending company Loan Offer" means an offer to Investors published on the SaveLend Marketplace to invest in Claims by granting a risk participation loan to a Lending company.

    3 RISK PARTICIPATION IN LOANS BY GRANTING OF LENDING COMPANY LOANS

    3.1 Introduction

    SaveLend may act as an intermediary in respect of a Lending company Loan Offer originating from a Lending company.

    A Lending company Loan Offer from a Lending company which has been approved by SaveLend will be published on the SaveLend Marketplace and Investors will be offered to grant a Lending company Loan to the Lending company.

    An Investor, who wants to invest in Loans by granting a Lending company Loan to a Lending company on the basis of a Lending company Loan Offer, shall register its acceptance of the Lending company Loan Offer on its User Account. The amount of the Lending company Loan accepted to be granted by the Investor shall be specified on the Investor’s User Account. Alternatively, the Investor may use SaveLend’s automated assignment service to register its acceptance of a Lending company Loan Offer based on a set of pre-selected rules (of which Lending company Loan Offers to accept) chosen by the Investor on its User Account. An Investor cannot register its acceptance of a Lending company Loan Offer if the amount of the Lending company Loan to be granted by the Investor exceeds the amount of available funds deposited by the Investor with SaveLend. Provided that there are sufficient funds deposited by the Investor, SaveLend shall reserve an amount corresponding to the amount of the Lending company Loan to be granted by the Investor for the account of the relevant Lending company immediately when the Investor registers its acceptance of the Lending company Loan Offer on its User Account.

    When one or more Investors have registered its acceptance to grant a Lending company Loan in a total amount corresponding to the requested loan amount set out in the Lending company Loan Offer (or an accepted minimum percentage of requested amount), and, where applicable, other terms set out in the Lending company Loan Offer have been met, the amount of the Lending company Loan will be paid out to the relevant Lending company by SaveLend.

    The relevant Investors and Lending company will be deemed having entered into a Lending company Loan Agreement with each other in accordance with the terms and conditions set out in the Lending company Loan Offer, these Special Provisions and the General Provisions when the Investor accepts the Lending company Loan Offer in accordance with these terms. The specific terms for each Lending company Loan Agreement entered into with SaveLend as intermediary will be concluded and documented through an automatically generated confirmation of the Lending company Loan Agreement which will be made available on the relevant User Accounts.

    3.2 Administration of payment of interest and fees under Lending company Loan Agreements

    SaveLend will, on behalf of the Investor, administer any interest accruing on a Lending company Loan granted with SaveLend as intermediary and transfer any accrued interest due for payment in respect of such Lending company Loan to the Investor(s) entitled thereto.

    Each Investor accepts that a payment of interest in respect of a Lending company Loan Agreement where there are several Investors will be distributed to all Investors pro rata to their part of the total amount of the Lending company Loan.

    SaveLend, or any third party appointed by SaveLend, is authorised by each Investor to, on behalf of the Investor, collect from the relevant Lending company any payment, fees or interest fallen due in accordance with these terms.

    SaveLend has the right to charge the Investor for all costs SaveLend has for administering the Lending company Loan Agreement entered into with SaveLend acting as intermediary.

    In case the Lending company is replaced as Administrator, SaveLend has the right to charge the Investor for any fees and costs incurred in connection with the replacement and the new Administrator’s appointment.

    3.3 Payments by the Debtor

    After the disbursement of the Lending company Loan, the relevant Debtor to which the Lending company Loan is linked in accordance with the Lending company Loan Offer shall, for the avoidance of doubt, continue to make all payments under the relevant Loan Agreement to the Lending company in accordance with the terms thereof. The Investor is aware that the Lending company Loan is an unsecured loan to the Lending company and that this arrangement constitutes a risk that the Loan will not be protected from the Lending company’s creditors in case of an Insolvency Event. Neither the Lending company, the Administrator nor SaveLend shall incur any liability or be held responsible for the failure by the Debtor to comply with its payment obligations under a Loan Agreement.

    3.4 Payment of the Lending company Interest

    The Lending company shall pay the Lending company Interest in respect of a Lending company Loan on the dates specified in the Lending company Loan Offer, in each case provided that a corresponding amount of interest has been received by the Lending company on or prior to such date from the relevant Debtor under the relevant Loan Agreement. Payment of the Lending company Interest shall be made by the Lending company to SaveLend. SaveLend shall receive the Lending company Interest on behalf of the Investor entitled thereto and distribute the amount to the Investor within five (5) Business Days.

    The Lending company reserves its rights to payment of interest as well as other Claims under a Loan Agreement to the extent that any such Claim relates to the period prior to the date of disbursement of the Lending company Loan. SaveLend, or any third party appointed by SaveLend, is authorised by the Investor to, on behalf of the Investor, demand and collect from the Lending company any payment of the Lending company Interest fallen due, in each case provided that the Lending company has received the relevant amounts from the relevant Debtor.

    Any payment of the Lending company Interest received by SaveLend on behalf of an Investor shall be treated as “escrow funds” (Sw. redovisningsmedel) and shall be held separately for the account of the Investor in accordance with applicable laws and regulations.

    3.5 Payment and distribution of Funds

    Funds received by the Administrator in respect of a Loan Agreement shall be distributed to the relevant Investor(s) in the same proportion as the Lending company Loan bears to the underlying Claims kept by the Lending company relating to the relevant Lending company Loan. Such amount shall be transferred to the relevant Investor(s) through SaveLend and the remaining part shall be retained by (or, if the Lending company is not the Administrator, transferred to) the Lending company, provided that if the Lending company Interest is less than the interest to be paid by the Debtor in respect of the Loan Agreement, an amount corresponding to the difference between the Lending company Interest and the interest paid in respect of the Loan Agreement shall be deducted from the payment to the Investors and retained by or transferred to (as applicable) the Lending company.

    If the Lending company Interest exceeds the interest to be paid in respect of the underlying Loan, the Lending company shall, for the avoidance of doubt, not be obliged to pay the difference between the Lending company Interest and the interest paid in respect of the Loan. Upon receipt of Funds or Lending company Interest from the Administrator, SaveLend will distribute the Funds and the Lending company Interest among all the Investors having provided the Lending company Loan (or a part thereof) arising from the relevant Lending company Loan Agreement in the following order:

    1. first, in or towards payment pro rata by the relevant Investors of any unpaid amount owing to

    SaveLend in respect of the Lending company Loan;

    1. secondly, in or towards payment pro rata to the relevant Investors of any accrued interest

    (including any default interest payment) in respect of the Lending company Loan;

    1. thirdly, in or towards payment pro rata to the relevant Investors of any principal due but

    unpaid in respect of the Lending company Loan; and

    1. fourthly, in or towards payment pro rata to the relevant Investors of any other sum due but

    unpaid in respect of the Lending company Loan.

    The calculation of any amount subject to transfer by Savelend in accordance with this paragraph shall

    be performed by SaveLend based on the information provided by the Administrator.

    3.6 Credit losses

    The granting of a Lending company Loan (or a part thereof) can result in losses for the Investor. The Investor is solely responsible for its use of the SaveLend Marketplace and for any possible losses that may arise as a result of any agreements entered into with a Lending company on the SaveLend Marketplace.

    If the Debtor fails to make full payment under the Loan in which the Investors have invested by way of granting a Lending company Loan, the Investors will receive payment pro rata in accordance with Clause 4.5 (Payment and distribution of Funds) above. If the Administrator has, as a result of a Debtor being in default under a Loan Agreement, sold the Claim to a third party in accordance with paragraph 8 of Clause 5.5 (Investor’s authorisation to SaveLend) of the General Provisions, the Administrator shall distribute the selling price between the relevant Investors in accordance with the provisions for distribution of Funds set out in Clause 4.5 (Payment and distribution of Funds) above.

    4 GOVERNING LAW

    Unless otherwise stipulated in any applicable mandatory law or regulation, these terms and conditions shall be governed by Swedish law.

    5 DISPUTES

    In the event of a dispute arising out of or relating to these Special Provisions (including any question regarding its existence, validity or termination), the parties involved shall first seek settlement of that dispute by mediation or negotiation. If the dispute is not settled by mediation or negotiations, the dispute shall be settled by the District

    Court of Stockholm.

    2021-09-23