Credon

User agreement

GENERAL TERMS AND CONDITIONS OF THE i-PLATFORM
(USER AGREEMENT)

The present Agreement on Use of i-Platform www.credon.com (the “User Agreement”) is electronically concluded by and between the i-Platform operator «CREDON» (the “Operator”) and the i-Platform User meeting the conditions set forth in the present Agreement (the “ User”).

The User Agreement sets out the conditions for the use of the www.credon.com platform (the “i-Platform”) and regulates the legal relationship among the Users and between the Users and Operator.

By entering into the User Agreement, the User acknowledges that has fully acquainted themselves with the User Agreement, understood its contents and consequences, and agrees with the terms set out in the User Agreement concerning the use of the i-Platform. The User also confirms their understanding that without accepting the terms set out herein the User may not use the services provided by the i-Platform and the Operator.

Annexes to the User Agreement and all the other agreements and/or the documents made available on the i-Platform and/or additionally concluded between the User and the Operator may establish separate terms concerning the use of the i-Platform and/or special rights, obligations and responsibility applicable to the Parties. If the provisions of the other agreements made available on the i-Platform or concluded between the User and the Operator separately are inconsistent with the provisions set out in the present Agreement, the provisions of relevant documents and/or agreements which are considered special with regard to the provisions of this Agreement shall apply.

The Operator shall act in accordance with the applicable legal acts of the Republic of Croatia.

1. Definitions

1.1. Unless the context requires otherwise, the following words used in the present Agreement shall have the meanings indicated below:

1.1.1. Assignee: A User who has entered into the Assignment Agreement and purchased a Claim or a part thereof from the Assignor.

1.1.2. Assignment Agreement: The Agreement between a User as an Assignee and a Creditor as the Assignor, whereby the Creditor (the Assignor) transfers the Claim or a part thereof to the User (the Assignee) for a charge.

1.1.3. Assignment Fee: The fee payable for the transfer (assignment) of the Claim. The fee amount is established in the Basic terms and conditions of the Assignment Agreement.

1.1.4. Assignor: The Creditor, who owns a Claim against the Borrower arising from a Loan Agreement and assigns the Claim or a part thereof to a User (an Assignee). The Assignor is a person, who has concluded the Loan Agreement and issued the Loan to the Borrower, or a person, who has acquired the Claim.

1.1.5. Auto Invest: Automatic purchasing tool of Claims on the i-Platform, functioning according to the settings selected by a User as described in Section x of this Agreement.

1.1.6. Borrower: A private individual or a legal entity, which has received the Loan from the Creditor pursuant to the Loan Agreement.

1.1.7. Borrower’s Payments: Payments of the principal amount of the Loan, Interest and contractual fees and/or penalties and other ancillary claims arising from the Loan Agreement (if applicable) arising from the Loan Agreement, which the Borrower shall pay to the Creditor and the latter shall transfer to Operator for paying to the Assignee.

1.1.8. Business Day: An officially determined business day (8:00 – 17:00 CET) of the Republic of Croatia, except for Saturdays, Sundays, and public holidays.

1.1.9. Claim: The Creditor`s claim or a part thereof towards the Borrower, arising from the Loan Agreement, which shall be transferred to the Assignee pursuant to the Assignment Agreement. The Claim is assigned without handling over the collateral (pledge rights) established in favor of the Creditor (if any). Detailed description of the Claim is included in the Assignment Agreement.

1.1.10. Assignment Application: User’s application filled in on the i-Platform for purchase (transfer) of a single or multiple Claims selected by the User. By the electronic submission of Assignment Application, the User certifies its intent to acquire the Claim.

1.1.11. Claim Servicing: The actions that the Creditor or the Operator is permitted to take, according to the Assignment Agreement or other agreement concluded with the Assignee, as the fiduciary of the Assignee with respect to the Claim. Claim Servicing may be referred to as management of the Claim or operating the Claim.

1.1.12. Creditor: A legal entity, who owns the Claim against the Borrower arising from the Loan Agreement and has authorized the Operator to market the Claim in the i-Platform for transferring it to the Users. The Creditor is a person, who has concluded the Loan Agreement and issued the Loan to the Borrower, or a person, who has acquired the Claim.

1.1.13. i-Platform: «CREDON» website and a set of related services, that are provided within the domain’s www.credon.com technological framework, where, pursuant to the User Agreement, a User can create his/her personal account, close deals, make payments and carry out all activities allowed by the terms and conditions of the i-Platform.

1.1.14. Interest: Remuneration specified in the Assignment Agreement for the use of the Loan. Interest shall be calculated on the remaining amount of the Claim. Interest payments are dependent on the incoming payments from the Borrower and are paid out to the Assignee once the Borrower has made instalments or the Assignor has bought back the Claim.

1.1.15. Loan: A principal amount of the loan that has been issued to the Borrower pursuant to the Loan Agreement and yet not repaid, which shall be paid by the Borrower to the Creditor and which the Operator transfers to the Assignee after it is received from the Creditor.

1.1.16. Loan Agreement: A loan, lease, credit agreement or a financial arrangement of different nature pursuant to which the Loan has been issued to the Borrower.

1.1.17. Minimum Claim Amount: The minimum amount of a single Claim as set by the Operator and marketed within the i-Platform, a User can purchase. The Minimum Claim Amount may differ for different Claims, as well as the Minimum Claim Amount may differ when that Claim is being sold by one User to another User.

1.1.18. Operator: «CREDON», registration no. 40103638290, address: Trg Ante Starčevića 7, Zagreb, Croatia, 10000, Tel. +37122087671, e- Mail: info@credon.com, which shall maintain and administer the i-Platform, and fulfil other responsibilities specified in this User Agreement and the Assignment Agreement.

1.1.19. Parties: The Operator and the User.

1.1.20. Price List: The fees of using the Operator’s services and i-Platform, published within the i-Platform, which constitute an integral part of the User Agreement.

1.1.21. Registration Form: An application electronically filled in and confirmed by the User for opening the User Profile in the i-Platform in compliance with Section 2 of the User Agreement.

1.1.22. Service Fee: A fee payable by the User to the Operator for Claim Servicing, i.e processing Claims and other actions taken by the Operator according to the provisions of the User Agreement and/or the Assignment Agreement. The Service Fee is indicated on the Price List.

1.1.23. Transaction: An aggregation of User's free will and activities, as the result of which an electronic document is created and confirmed in the User’s Profile and the User acquires the Claim.

1.1.24. User: A natural person or a legal entity registered on the i-Platform as its user, including the Assignor and the Assignee.

1.1.25. User’s Bank Account: An account opened in the name of the User in a credit institution, payment institution or electronic money institution registered in the Republic of Croatia, a branch of a foreign credit institution in Latvia, other credit institution in the European Union or in an EEA country or any other country to which the requirements arising from the European Union legislation for the prevention of money laundering and terrorism financing apply.

1.1.26. User’s Internal Identification Number (IID Number): A personalized number assigned by the Operator to the User, that is required for further identification of the User when operating on the i-Platform, including, but not limited to making payments and supplementing the User’s Virtual Account.

1.1.27. User’s Profile: The User’s personal site within the i-Platform, which is automatically created by the Operator after the User registers within the i-Platform and is available to the User after the process of the verification within the i-Platform by entering the User’s e-mail address and password.

1.1.28. User’s Virtual Account: An individual account created for the User on the User's Profile for recording settlements and transactions and for the purchase and management of the Claims (for concluding and executing the Assignment Agreements.

2. Registration on the i-Platform and creation of the User’s Profile

2.1. Only a registered and identified User whose User’s Profile is confirmed by the Operator and who has entered into this User Agreement, is entitled to use the services offered by the i-Platform.

2.2. To register on the i-Platform and to create the User’s Profile, the User must meet, and the User certifies that as at the registration on the i-Platform and throughout the period of use of the User's Profile it will meet the following criteria:

2.2.1. The User is an individual or a legal entity.

2.2.2. The User, an individual or representative of the legal entity, is at least 18 (eighteen) years old.

2.2.3. The User has the User’s Bank Account, and the User is authorized to use this account and funds contained therein.

2.2.4. The User has legal capacity and capacity to act; with regard to individual, his/her legal capacity has not been limited.

2.2.5. If the Investor is a legal entity, then it is represented by a board member or another authorized person entitled to conclude transactions for and on behalf of the respective legal entity, and holds the right of representation.

2.2.6. Insolvency proceedings of an individual or legal entity, legal protection proceedings or any similar type of legal proceedings have not been initiated against the User.

2.2.7. The User or its representative is not under the influence of alcohol, drugs, psychoactive, toxic or other intoxicating substances.

2.2.8. The funds involved in the transactions within the i-Platform are of a legal origin and are not acquired as the result of a criminal offence, either directly or indirectly, or related to financing of terrorism or an attempt of such or any other illegal activities;

2.2.9. The User is the true beneficiary and transactions on the i-Platform will be performed in their favor only.

2.2.10. The User is not a resident in any of the following countries: Democratic People`s Republic of Korea (DPRK), Iran, Bahamas, Botswana, Cambodia, Ghana, Iceland, Mongolia, Pakistan, Panama, Syria, Trinidad and Tobago, Yemen, Zimbabwe, Afghanistan, American Samoa, Ethiopia, Guam, Iraq, Libya, Nigeria, Puerto Rico, Samoa, Saudi Arabia, Sri Lanka, Tunisia, US Virgin Islands.

2.3. The User certifies that at the time of submitting the Registration Form and at the time of conclusion of the Agreement they have full legal capacity to act and is not under the influence of alcohol, drugs, psychoactive, toxic or other intoxicating substances.

2.4. The User shall register in the i-Platform by filling the Registration Form and approving the terms and conditions stated in the User Agreement.

2.5. Upon the registration of the User in the i-Platform, the User Profile shall be created and a unique User’s Internal Identification Number (IID Number) shall be assigned to the User. Each User can open only one User Profile in the i-Platform and this User Profile shall be linked only to one User’s Bank Account.

2.6. To enter into the User Agreement, to use the services offered within the i-Platform and to acquire Claims, the User shall provide the Operator all the information required for the Operator to identify the User according to Section 3 of this User Agreement.

2.7. If the User is a legal entity, the Operator is entitled to identify the signatory, for whom the rights to sign on behalf of the respective User have been established and who will represent the User on the i-Platform, by applying the procedure provided herein in respect of the Users – individuals.

2.8. Access and use of the User’s Profile shall be possible after the Operator has identified the User by the User’s e-mail address and password indicated in Registration Form. The User shall be entitled to change the e-mail address and password used for the User’s identification in compliance with the procedures established on the i-Platform.

2.9. The Operator is entitled to refuse the registration of a new User on the i-Platform without giving a reason for refusal.

3. Identification of the User and confirmation of transactions

3.1. The Operator shall identify the User before the User may start using i-Platform to acquire Claims. Identification may include, but is not limited to, identification of the User, obtaining information on country of residence, citizenship and/or country of birth, asserting the beneficial owner, obtaining information on the source of funds, obtaining information on the purpose and nature of the business relationship.

3.2. The identification of the User is conducted according to the rules of the internal control system of the Operator either in person or remotely via i-Platform, in the following way:

3.2.1. After filling the Registration form, the User shall present in person (the Operator retains a copy) or shall upload the User’s identification documents:

3.2.1.1. For individuals: valid personal identification document (ID card) issued in the European Economic Area or a copy of a passport valid for travel with a clearly visible first name, last name, personal identity number (or an equivalent identification code issued by the person's country of origin) and photograph of the User, and a copy of the taxpayer's certificate and/or taxpayer's number (if a person is a registered tax payer).

3.2.1.2. For legal entities: copy of the registration certificate, Articles of Association, document certifying on rights of representation, valid passport or ID card for representative of the legal entity or printout/statement from the business register certifying on rights of representation and good standing of the company (if available in registration country).

3.2.2. The User ensures that the first transfer of the funds into the Operator’s bank account is made from the User’s Bank Account opened with the credit institution, payment institution or electronic money institution registered and licensed in the country, to which the regulatory and other requirements for the prevention of money laundering and terrorism financing in accordance with European Union legislation apply. The User must indicate the User’s IID Number as the purpose of the transfer of the funds. After having received the first payment, the Operator identifies the User by comparing the information received from the credit institution, payment institution or electronic money institution.

3.2.3. To identify the User and perform client due diligence, the Operator may, at its sole discretion and at any time request the User to submit documents and/or other information confirming the User’s identity and unilaterally determine any additional requirements for the User’s identification.

3.3. After identifying the User, the Operator shall send a confirmation e-mail to the User. To activate his/her User Profile, the User shall confirm his/her e-mail address by following the link specified in the e-mail.

3.4. If the User Agreement is concluded in person, it shall be deemed entered into and becomes effective when both Parties have signed it. If the User Agreement is concluded remotely, it shall be deemed entered into and becomes effective after the Operator has performed identification of the User and the User has confirmed the User Agreement on the i-Platform.

3.5. The User’s Profile shall be deemed activated from the moment the equivalent amount of electronic money has been debited in the Virtual Account of the User. The activation of User’s Profile on the Platform confirms the User Agreement is effective. The User may become acquainted with the User Agreement and all concluded Assignment Agreements in the User’s Profile.

3.6. The Registration Form filed in compliance with the procedures established in the User Agreement and transferring funds to the Operator’ s Bank Account confirms that the User has read the User Agreement and wishes to use the i-Platform and receive the services offered pursuant to this User Agreement.

3.7. Access to the User Profile in the i-Platform shall be possible only after the User's e-mail address and password have been entered.

3.8. The User’s activities performed within the i-Platform after entering the User’s email address and password shall be regarded as the User’s signature or acceptance. All transactions, payment orders, instructions, applications, agreements, as well as other documents confirmed or submitted by the User within the i-Platform after entering the User’s e-mail address and password shall be binding to the Parties.

3.9. The password created by the User shall be confidential. The Parties undertake not to disclose the User Profile access data to third parties. The User shall have the duty to ensure the confidentiality of the User Profile access information, as well as change the password at least once in three months.

3.10. In case the User’s password has become known or may have become known to a third party, the User must immediately inform the Operator about it in writing via e-mail info@credon.com. After receiving such information, the Operator shall block the access to the User’s Profile as soon as possible, until the User has applied for a new password and has given a clear order to the Operator to unblock the User Profile. All the communication shall be conducted from the User’s e-mail address indicated in the Registration Form.

3.11. The access to the User Profile is blocked, if the User’s password is entered incorrectly 4 (four) times in a row. The User Profile shall be blocked until the User submits an electronic application for the assignment of a new User's password. A unique Internet link shall be sent to the email address specified by the User, upon the activization of which the User shall have the opportunity to renew the password.

3.12. The Operator shall have the right rather than the duty to block access to the User Profile, if:

3.12.1. The Operator has suspicions regarding unauthorized access to the User Profile or the User's password has become known or might have become known to third parties.

3.12.2. 2 The Operator has suspicions regarding the performance of illegal transactions, including the relation of the User to the funds acquired either directly or indirectly in the result of a criminal offence or related to the financing of terrorism or an attempt of such activities.

3.12.3. The User has violated terms and conditions of the Assignment Agreement or User Agreement, including, if the User tries to contact the Borrower in relation to the Loan Agreement, the Assignment Agreement or the processing of payments;

3.12.4. The User has provided false or inaccurate information regarding themselves to the Operator.

3.12.5. The User uses the i-Platform for illegal purposes.

3.12.6. In any other case at the discretion of the Operator in order to ensure a safety of services, inviolability, confidentiality of the User and/or other Users of the i-Platform or to prevent information, financial or other losses that might be inflicted upon the Operator or the User.

3.13. The Operator shall be entitled not to approve a transaction within the i-Platform, if:

3.13.1. The User fails to comply with the User Agreement.

3.13.2. The Operator has suspicions about the identity of the User, and/or the Operator has not been able to contact the User to confirm the content of the transaction.

3.13.3. The User’s order is unclear or distorted due to communication failures.

3.13.4. In case the first transfer of funds is made from alternative payment systems, not a credit institution, payment institution or electronic money institution, which is licensed by and regulated under European Union authority, or the Operator has suspicions regarding money laundering, financing of terrorism or an attempt of these activities.

3.14. The User shall undertake full liability for the confidentiality of the User Profile access information and losses incurred for the User as the result of actions of third parties. The User is aware of and understands that third parties, to whom the User Profile access information has become known, can access the User Profile and undertake liabilities on behalf of the User. If activities are carried out with the User Profile in the Transaction Platform, using the User Profile access information, it shall be deemed that activities in the User Profile have been carried out by the User themselves.

3.15. The Operator is entitled to unilaterally change the rules of identification of the User and the process of identification of the User as well as to specify additional requirements for the identification of the User.

4. User’s Virtual Account and reflection of Transactions within i-Platform

4.1. The User shall transfer the funds which the User wishes to use for acquiring the Claims on the i-Platform to the Operator’s Bank Account, receiving in exchange the equivalent amount of virtual money in the User’s Virtual Account, whereby one unit of virtual money is equal to one Euro. If the User makes a payment in another currency, the Operator shall have the right to convert the received amount into Euro according to the currency exchange rate of the credit institution selected by the Operator on the day of conversion. All expenses related to the conversion of funds shall be covered from the User's funds.

4.2. The User shall be entitled to add funds to the User’s Virtual Account only on their own name, by wiring the funds from the User’s Bank Account to the Operator’s Account.

4.3. Within one calendar year, the User shall be entitled to transfer funds not exceeding EUR 50,000 (fifty thousand euros) to the Operator's Bank Account to perform Transactions.

4.4. If the User wishes to transfer funds exceeding of the amount specified in Clause 4.3, the User shall require Operator’s prior consent for an amount exceeding EUR 50,000 - (fifty thousand euros). Confirmation of the Transactions may be subject to additional information and documents requested from the User.

4.5. When adding the funds to the User’s Virtual Account, the User is obliged to indicate the User’s Internal Identification Number (IID Number) as the purpose of the transaction. In case the User makes a transfer without indicating the IID Number, the Operator may consider such payment as not received until it is identified.

4.6. After receiving the funds, the Operator shall verify their origin, which may take up to two (2) business days. In cases where funds are transferred from a bank located in a country outside the European Union, the verification may take longer.

4.7. It is illegal to the transfer the Operator's Bank Account any funds acquired either directly or indirectly in the result of a criminal offence, related to the financing of terrorism or an attempt of such activities. The Operator shall have the duty to inform law enforcement institutions of the origin of such funds.

4.8. If during the registration of the User or conclusion of a Transactions the Operator has suspicions regarding money laundering, financing of terrorism or an attempt of these activities, it shall have the right to reject the registration of the User in the Transaction Platform, not to accept the User’s funds in the Operator's Bank Account, to block and close the User Profile.

4.9. The following shall be deemed suspicious:

4.9.1. The country of residence specified in the User’s Profile differs from the actual User's country of residence.

4.9.2. The User transfers the funds or repeatedly specifies the bank account that differs from the bank account linked to the User’s Profile for paying funds or the User’s new bank account is located in the country other than the Member State of the European Union.

4.9.3. The User has transferred funds exceeding the annual income specified by the User by 25%, to the Operator’s Bank Account to perform Transactions.

4.9.4. The User transfers the amount of funds exceeding EUR 10,000.- (ten thousand euros) to the Operator’s Bank Account to perform Transactions in one payment or within 24 hours.

4.10. The funds transferred by the User shall be stored in the Operator's Bank Account separately from the Operator's property until they are paid to the Assignor according to the Assignment Agreement or paid back to the User. No interest shall be calculated and paid to the User for the User's funds stored in the Operator's Bank Account.

4.11. The funds transferred by the User to the Operator in compliance with the present Terms and Conditions shall be regarded as funds necessary for conducting of affairs in the meaning of Section 2307 of the Civil Law of the Republic of Croatia. The relevant amount of money in bank, in essence, is a claim (towards the bank) that the Operator has acquired on behalf of and for the User only to perform the task assigned to the authorized person. Accordingly, the respective funds are separated from the Operator property and shall not appear on the financial statements of the Operator.

4.12. By entering into the User Agreement, the User confirms that the funds the User has transferer to the Operator’s Bank Account are transferer with an aim of crediting the User’s Virtual Account in the i-Platform. The funds while they are stored on the Operator's Bank Account, do not become Operator’s property, and the User shall retain the rights to demand for the funds to be reflected on the User’s Virtual Account.

4.13. The Operator is entitled to use the User’s deposited funds only according to the instruction of the User pursuant to the provisions of the User Agreement and the Assignment Agreement.

4.14. The Operator shall transfer the User's funds to the Assignor pursuant to the Assignment Agreement signed by the User, reflecting each Transaction in the User’s Profile. The virtual accumulation of funds in the User’s Profile shall be reduced by the amount of paid funds.

4.15. The Operator shall reflect the Transactions performed by the User in the User’s Virtual Account in the form of a statement. The statements are available on the User’s Profile.

4.16. The Operator shall be entitled to close the User’s Profile in the following cases:

4.16.1. If it is requested in writing by the User.

4.16.2. If the User has not purchased any Claim for more than 12 (twelve) consecutive months.

4.16.3. If the User’s Virtual Account has reached a negative value.

4.16.4. If the User Agreement is terminated and/or the User's Profile is deleted.

4.16.5. If the User is in breach of the terms and conditions of the User Agreement or has committed other unlawful activities.

4.16.6. If information has become known to the Operator that insolvency proceedings of an individual or legal entity, legal protection proceedings or any similar type of legal proceedings have been initiated against the User in any country.

4.17. If the User has not entered into any Assignment Agreement for more than 12 (twelve) consecutive months, the Operator shall be entitled to close the User’s Virtual Account. If the User’s Virtual Account has a positive balance and there are User’s funds in the Operator’s Bank Account, then starting from the next month the Operator shall collect a monthly fee for the maintenance of the User’s Virtual Account in the amount specified in the Price List and has rights to close the User’s Virtual Account, once the balance of it has reached 0 (zero) EUR.

4.18. The User shall have the right to submit an electronic request at any time to the Operator to repay the funds reflected in the User’s Virtual Account to the User’s Bank Account, specifying the amount of funds to be repaid. The User can withdraw not less than EUR 10 (ten) per request if the total amount in the User’s Virtual Account is more than EUR 10. If the total amount of funds in the User’s Virtual Account is less than EUR 10 (ten), the User can withdraw all funds available but only the whole amount per request. The Operator shall ensure the payment of the funds under qualified User requests is made and reflected in the User’s Virtual Account within two (3) Business days after receiving the User's request. The Operator is entitled to withhold the bank's service fees for the transfer from the funds available in the User’ s Virtual Account and service fee specified in the Price List, if applicable.

4.19. The User may request to disburse the funds to another bank account rather than User’s Bank Account. In this case, prior to the payment of funds, the Operator shall be entitled to require and the User shall have the duty to provide information certifying that the bank account specified in the request has been opened in the User’s name in the credit institution that is the subject to requirements specified in the Law On the Prevention of Money Laundering and Terrorism Financing or in the legal acts of the European Union in relation to the prevention of money laundering and terrorism financing. The User can certify this by transferring from the new bank account any amount of the funds to the Operator’s Bank Account.

4.20. The Operator is entitled to withhold service fees specified in the Price List for the processing of payments and fulfilment of User's liabilities, including bank's service fees to be paid for transfers, from the payments made by the User. The Operator shall reflect each payment made or withheld in statements available under User’s Profile. The Operator is entitled to transfer withholdings specified in the Price List which are made from the User's funds to another Operator’s Bank Account and include them in the Operator’s property.

5. General terms on assignment of the Claim and purchasing the Claim manually

5.1. After the User has been identified pursuant to the User Agreement, if sufficient funds are available on the User’s Virtual Account, the User shall be entitled to purchase Claims offered on the i-Platform, provided that:

5.1.1. The User has, at its own discretion, chosen one or more Claims against one or several Borrowers from the list posted on the i-Platform.

5.1.2. In the Assignment Application the User has indicated the Assignment Fee at which the User wishes to acquire one or several Claims and has confirmed the choice. The Assignment Fee may not be smaller than the Minimum Claim Amount.

5.2. The User may purchase all Claims towards a specific Borrower offered on the i-Platform that arise from a Loan Agreement to the full available extent or only a part thereof. The Claims offered on the i-Platform may not comprise all Claims arising from the Loan Agreement and the Assignor may retain a part of Claims arising from the Loan Agreement.

5.3. The User hereby confirms and understands that the Claims are not all of the Creditor’s claims towards the Borrower, and the User shall not become the sole creditor of the Borrower pursuant to the Loan Agreement, and in such event, the Operator and the Creditor shall service the Claim together with claims of other users of the i-Platform that arise from the Loan Agreement.

5.4. The Operator shall register and execute Assignment Applications in chronological order upon their reception on the i-Platform. The moment when the application is registered in the i-Platform shall be deemed the moment of receipt of the Assignment Application. The Operator is entitled to unilaterally amend or supplement the order of execution of the Assignment Application at any time without warning the User.

5.5. After the User has submitted the Assignment Application, the Operator shall prepare a Summary of applications, specifying each application and information included therein separately. The User shall verify the correctness of information specified in the Summary available on the User’s Profile and, if necessary, introduce necessary changes thereto. If the information included in the Summary conforms to the will of the User, the User shall confirm it pursuant to the procedures laid down in the i-Platform, thereby certifying that they have read and confirmed the terms and conditions of the Assignment Agreement.

5.6. After the Summary is confirmed, the Assignment Agreement between the Assignor and the User shall be deemed as concluded and the Operator shall immediately withdraw the funds equivalent to the Assignment Fee from the User’s Virtual Account.

5.7. The Operator shall immediately, after the withdrawal of the funds from the User’s Virtual Account, transfer the Assignment Fee to the Assignor’s bank account. The Operator may retain the deposit in the amount agreed between the Assignor and the Operator. After the Assignment Fee is transferred, the Claim shall be deemed as transferred to the User.

5.8. By submitting the Assignment Application, the User shall authorize the Operator to carry out the transfer of the Assignment Fee referred to in the Assignment Application to the Assignor's bank account in compliance with the terms and conditions of the User Agreement and the Assignment Agreement.

5.9. The User understands and confirms that the User may acquire a part of the Claim against the Borrower; the User may not acquire the Claim against the Borrower in full and the Assignee shall not become the sole creditor of the Borrower pursuant to the Loan Agreement.

5.10. The User shall at any time have the right to review information in the User’s Profile regarding all Transactions performed by the User on the i-Platform, payments made by the Operator and payments withheld by the Operator from the User's funds pursuant to the User Agreement and terms and conditions of the Assignment Agreement.

5.11. After conclusion of the Assignment Agreement, the concluded Assignment Agreement is available in the User's Profile throughout the period of its validity. All documents with respect to the Claim are stored only with the Operator and are not handed over to the Assignee.

5.12. If due to interrupted system operations of the i-Platform the User’s Virtual Account is mistakenly credited or debited, the Operator shall reserve the rights to debit or credit the User’s Virtual Account accordingly. If the balance in the User’s Virtual Account is negative after making the adjustments of payments, the User is obliged, within 3 (three) Business Days from the receipt of a the Operator’s notification, to add funds to the User’s Virtual Account to cover the negative account balance.

5.13. The Assignee is informed and agrees that the Operator is not and cannot be held liable for the security of the Claim and for the Borrower’s ability to repay the Loan and to settle the Claim, as well as the Operator is not obliged to repay or compensate the Assignee the unsettled part of the Claim.

5.14. The User understands and confirms that by concluding the Assignment Agreement, the right of pledge (collateral), which may be registered in favor of the Creditor in the form of a mortgage or commercial pledge pursuant to the Loan Agreement, shall not be transferred to the User and shall remain registered in favor of the Creditor.

6. Automatic procedure for purchase of the Claim and conclusion of the Assignment Agreement (Auto Invest)

6.1. In addition to the procedure of purchasing the Claim described in Section 5 of the User Agreement, the User shall be entitled to use the Auto Invest tool for purchasing the Claims.

6.2. Auto Invest functions according to settings selected and confirmed by the User, thus implementing the User’s selected strategy of purchasing the Claim. By offering the Auto Invest tool on the i-Platform, the Operator is not giving any recommendations or advice to the User regarding the purchasing of the Claim.

6.3. The User shall be held fully responsible for the settings and specifications that are selected and confirmed solely by the User, as well as shall assume full liability for the consequences resulting from confirmation of such settings and using the Auto Invest tool.

6.4. To connect the Auto Invest tool, the User at its own discretion shall choose and confirm the Auto Invest settings on the i-Platform, according to the strategy the User has chosen.

6.5. By activating the Auto Invest tool, the User grants the right to the Operator to use the Auto Invest tool to make Transactions (to acquire the Claim) according to the Auto Invest settings set and approved by the User.

6.6. For the User to be able to purchase the Claim through the Auto Invest tool, the User must ensure sufficient funds on the User’s Virtual Account.

6.7. Upon accepting the User’s automatic instructions, given by the User through the Auto Invest tool, the Operator shall transfer the funds indicated on the automatic instruction from the User’s Virtual Account in compliance with the procedure established in Section 5 of the User Agreement.

6.8. Before using the Auto Invest tool, the User, in accordance with the procedures established on the i-Platform, shall confirm the standard terms and conditions of the Assignment Agreement proposed by the Operator, pursuant to which the User instructs the Auto Invest tool to conclude transactions with the Assignors on behalf of the User. By confirming the standard provisions of the Assignment Agreement proposed by the Operator, the User agrees to them and recognizes them as suitable for the User. The Assignor is entitled to propose amendments of the Assignment Agreement at any time. The respective amendments become effective when confirmed by the User.

6.9. The User may examine the information in its User’s Profile about the execution of the instructions on the purchase of the Claim given through the Auto Invest tool and about the disbursement of the funds from the User’s Virtual Account. The User must independently study the information on rights and obligations arising from the Claim purchase transactions concluded within the framework of Auto Invest tool.

6.10. The Operator has no obligation to additionally inform the User about the Claims purchased using Auto Invest tool and the rights and obligations arising from such Claims. The User is obliged to get acquainted with the documents, notifications and other information placed on the User's Profile and relating to the Claims purchased. The Operator shall have the right rather than the duty to send a notification to the User at the User’s e-mail address, confirming the execution of the User’s instructions and a disbursement of the relevant funds from the User’s Virtual Account.

6.11. The User shall be entitled to connect, change settings, suspend temporarily, or disconnect the Auto Invest tool at any time during the period of the validity of the User Agreement.

6.12. The automatic Claim purchase process though Auto Invest tool is terminated at the moment when the term to which Auto Invest tool was connected has expired and the User has not duly extended this term. Upon expiration of the term of the Auto Invest tool, the existing Assignment Agreements concluded by the User shall remain in force until the settlement of the Claim according to the provisions of the Assignment Agreement.

6.13. The User is informed and agrees that only the User itself is responsible for the indicated details of the automatic Claim purchase process though Auto Invest tool and waives any claims against the Operator in this regard. The Operator shall hold no responsibility whatsoever about any losses that are or might be inflicted upon the User as the Assignee in relation to the use of the i-Platform and the service available therein, including the use of the Auto Invest tool.

7. Execution of the Assignment Agreement

7.1. After the Assignment Agreement is concluded and throughout the period of validity thereof, the Assignment Agreement shall be available to the User on the User’s Profile. During the validity or the User Agreement «CREDON» shall provide to the User the information on the repayment schedule of the Claim and the Interest provided by the Loan Agreement. The Loan Agreement and other related documents related to the Assignment Agreement shall not be handed over to the User and shall be stored with the Creditor.

7.2. The Borrower shall make the Borrower’s payments pursuant to the Loan Agreement. The Creditor shall transfer to the Operator the payments received from the Borrower, including the Interest, in proportion to the amount of Claim acquired by the Assignee. The Operator shall distribute the received funds among all Users (Assignees) that have acquired the particular Claim in the proportion to the investment made by the Assignee and taking into account that the right to receive payments from the Borrower is granted to the Assignee on the day the Claim is acquired.

7.3. The Operator shall process and transfer to the Assignee to its User’s Virtual Account the following payments:

7.3.1. The principal amount of the Loan paid by the Borrower pursuant to the Loan repayment schedule.

7.3.2. The Interest paid by the Borrower and all other ancillary claims, if assigned, arising from the Loan Agreement.

7.3.3. The principal amount of the Loan repaid before the deadline by the Borrower and the Interest calculated to the day of repayment of the remaining principal amount.

7.3.4. If one or several Claims arising from the Loan Agreement in the scope whereof the Borrower has made the Borrower’s Payment from the moment of receipt of the previous Borrower’s Payment until the receipt of the last Borrower’s Payment has been assigned in favor of another Assignee, the Interest and other ancillary claims arising from the Claim are divided among the previous and the new Assignee, taking into account the number of days between the receipt of the previous and last Borrower’s Payment and how long the respective Claim has been owned by the respective Assignee.

7.4. The Operator shall transfer the payments to the User’s Virtual Account within 3 (three) Business Days after receipt of according payments from the Assignor, labeling thus received funds in the i-Platform as “paid” and making them available for further use. After the Assignor declares that the Borrower has paid Borrower’s payments, but before the payments are received from the Assignor, these funds are labeled in the i-Platform as “Funds in Transit”, reflecting this transaction in the User’s Virtual Account, without availability to use these funds for further transaction.

7.5. Prior to transferring the received payments to the User’s Virtual Account, the Operator may calculate and withheld tax and other payments specified in the Price List (if any). The tax is not withheld if the User is a legal entity or individual who has submitted a proof it has been registered with the State Revenue Service as the performers of economic activities.

7.6. The User agrees that for the purpose of calculation of the Interest as well as the amounts to be paid based on the User Agreement or the Assignment Agreement it shall be assumed that a year consists of 360 days and every month consists of 30 days.

7.7. The User is aware of the risk of the Borrower’s default, and risk of the Borrower delaying the repayment of the Loan and associated payments. The Creditor will perform all the necessary and allowed actions to facilitate timely and full recovery of the Claim without an involvement of the User (Assignee). In the event of the Borrower’s default, nor the Operator, nor the Assignor shall not assume the responsibility for the security of the Claim, and the Operator does not have an obligation to repay to the Assignee its paid Assignment Fee or any part thereof. Any further agreements or settlements between the Assignor and the Assignee can be entered into according to the order prescribed in the User Agreement and the Assignment Agreement.

8. The User’s rights and obligations

8.1. The User undertakes:

8.1.1. To use the i-Platform only for the performance of actions specified in it and in the User Agreement.

8.1.2. Not to use the i-Platform for illicit conduct, including fraud and money laundering.

8.1.3. Upon the registration on the i-Platform and when using the i-Platform, to provide only true information.

8.1.4. To use only secure means and devices of electronic communications and data transmission.

8.1.5. To take all necessary measures to prevent the access of any unauthorized third party to the User’s Profile.

8.1.6. To inform the Operator in writing of any changes to the User's first name, last name, e-mail address, bank account number or other information provided in the i-Platform immediately, but no later than within three (3) business days.

8.1.7. In communication with the Operator exercise decency and observe generally accepted behavioral standards.

8.2. By confirming the User Agreement, the User certifies that the User is capable of making decisions regarding the acquisition of the Claim and concluding the Assignment Agreement, as well as that it understands all risks including the risk of failure to recover the Claim or any part thereof.

8.3. The User is aware of and understands that third parties, who have obtained the User’s password, can access the User’s Profile and the User’s Virtual Account and assume obligations on behalf of the User. If the User’s Profile and the User’s Virtual Account is used to carry out activities on the i-Platform (including the Transactions) using a correct User’s e-mail address and password, it shall be considered that the activities with the respective User’s Profile and User’s Virtual Account have been performed by the User itself.

8.4. The User shall ensure that there are sufficient funds on the User’s Virtual Account for performing payments. If the funds on the User’s Virtual Account are insufficient, the Operator shall not execute the payment and/or carry out Transaction. The Operator shall not be held liable for any losses, which the User might suffer in this regard.

8.5. The User understands and is informed that the Operator and the Creditor have an obligation to ensure the confidentiality of the Borrowers’ personal data, therefore the Operator and the Creditor (Assignor) shall disclose only a limited information about the Borrower.

8.6. The User undertakes not to contact the Borrower in respect of the Loan Agreement, concluded Assignment Agreement and transferred Claim. The User shall not visit the Borrower at its residence or business location, not communicate with him, using means of prompt communication or social networks, not request from the Borrower any payments without the assistance of the Operator and the Creditor, and will not make any claims against the Borrower and not initiate any claims in court or a court of arbitration against the Borrower.

8.7. Upon a request of the Operator to submit additional documents or information in cases prescribed by this User Agreement, the User shall ensure that all required documents and information is submitted via e-mail or uploaded in the User’s Profile for further disposal of the Operator. Documents should be in English, if not otherwise agreed by the Parties in advance.

9. The Operator’s rights and obligations

9.1. The Operator shall execute the User Agreement and ensure the Claim Servicing in accordance with the provisions of the User Agreement.

9.2. The Operator shall facilitate a conclusion of Assignment Agreements according to the instructions given by the User on the i-Platform. The Operator shall manage the Claim according to the provisions of the User Agreement and shall carry out the Claim Servicing according to the laws and regulations in order to ensure their recovery.

9.3. The User hereby authorizes the Operator to manage all Claims and carry out the Claim Servicing, including the settlement and recovery of the Claims, if necessary, on behalf and in the interests of the User, whereby the Operator shall act on their name, but in the interests of the User. The User undertakes not to unilaterally revoke the authorization included in the User Agreement and in the Assignment Agreement.

9.4. The Operator confirms that the User’s right to the Claim obtained under Assignment Agreement is the User’s property, but the Operator and the Creditor are managing the Claim to the extent established in the User Agreement, the Loan Agreement, and the Assignment Agreement. The Operator facilitates management of the Claim by providing information technology solutions within the i-Platform according to the present User Agreement and cooperation agreement with the Creditor, and shall ensure management of the Claim in case of insolvency of the Creditor.

9.5. The Operator shall not be liable to the User or any other third party in the event that the Loan Agreement is not performed by the Borrower fully or in any part and therefore the Claim is not repaid and settled.

9.6. Based on the authorization of the Assignee provided in the User Agreement and the Assignment Agreement, the Operator has the right to manage the Claim until its full repayment and settlement in accordance with the provisions of the Assignment Agreement or until one of the following circumstances occurs:

9.6.1. In accordance with the Assignment Agreement, the impossibility of repayment and recovery of the Loan has been established. Impossibility of repayment and recovery of the Loan occurs if the Borrower has been announced as insolvent, the Borrower has died and the Borrower has no heirs who have taken over the obligations arising from the Loan Agreement or the Creditor has not been able to recover the Loan from the Borrower within 2 (two) years after maturity day of the Loan.

9.6.2. The Claim has been sold on behalf of the User to another User in accordance with Section 11 of the User Agreement.

9.6.3. The Creditor has settled the Claim by transferring the remaining amount of the Claim to the User in accordance with the provisions of the Assignment Agreement.

9.6.4. The Creditor has exercised the buyback of the Claim from the User.

9.7. The Operator undertakes to make all payments in favor of the User and deduct payments from the User’s Virtual Account only in accordance with the provisions of the User Agreement and the Price List.

10. Payment for services

10.1. The User shall pay to the Operator a fee for the services provided by the Operator pursuant to the Price List, or a service fee individually established by the User and the Operator.

10.2. The Operator shall withdraw the Service Fee from the User’s Virtual Account without additionally coordinating it with the User. The Operator withdraws the Service Fee only after the funds from the Borrower accrue to the User’s Virtual Account pursuant to the Assignment Agreement. In case of the resale of the Claim (Section 11), The Operator is entitled to withdraw the virtual money equivalent to the fee established on the Price List for the resale of the Claim immediately after the conclusion of the Assignment Agreement on the resale of the relevant Claim, without making any additional arrangements with the User.

10.3. The User’s bank may deduct a commission fee for depositing funds from the User’s Bank Account into the User’s Virtual Account in compliance with the price list of services of the relevant User’s bank.

10.4. The payment obligation shall be fulfilled when the payment amount is transferred into the account of the payment recipient.

10.5. The User is aware of and understands that pursuant to the taxation laws and other regulatory enactments applicable to the User taxes must be paid for the income that the User earns in relation to the Claim. The Operator may deduct taxes, dues, and other mandatory payments pursuant to the laws of the Republic of Croatia and applicable laws of the Creditor’ residence country from the funds to be disbursed to the User. The income taxes are not withheld if the User is a legal entity or the User is an individual who has submitted to the Operator a proof it has been registered with the State Revenue Service as the performer of economic activities. Notwithstanding the aforementioned, the User shall be fully responsible for paying all taxes arising from the income gained from the Transactions pursuant to the applicable laws.

11. Resale of the claim

11.1. The User (Assignee) is entitled to sell (if applicable) its owned Claim arising from the Loan Agreements to other Users, including the Operator or the Creditor, or a third party specified by the Creditor and authorized on the i-Platform. Selling of the Claim between users is performed only on the i-Platform. The User has no rights to sell or otherwise transfer the Claim to any third party, without using the i-Platform.

11.2. If the User wishes to sell the Claim (if applicable), the User marks on the i-Platform the respective Claim. The User may only sell the entire Claim it has against a specific Borrower and not a part thereof.

11.3. The User is entitled to sell the Claim for the remaining principal amount of the Claim as indicated in the i-Platform, with or without a discount or a mark-up. If the User wishes to sell the Claim with a discount or a mark-up, then the discount or mark-up is calculated from the remaining principal amount of the Claim. The resale price of the Claim shall consist of the remaining principal amount of the Claim to be sold as indicated in the i-Platform, and of a discount or a mark-up, if any, specified by the User.

11.4. On the i-Platform, the User must fill in the parameters of the Claim resell offer and confirm them according to the procedure established on the i-Platform.

11.5. The Claim resell offer shall be considered a binding offer by the User for all other Users of the i-Platform and for the Operator. The offer shall be considered made at the time when the User has confirmed all parameters of the Claim resell offer on the i-Platform. The User is entitled to call off the offer at any time unless another User has already accepted it. The User’s offer shall be deemed called off at the time, when the offer is no longer available on the i-Platform for other Users.

11.6. The purchase of the Claim is performed according to the procedures established in Section 5 and Section 6 of the User Agreement.

11.7. The Claim has been deemed sold and transferred and a new Assignment Agreement shall be deemed concluded at the time, when purchasing User or the Operator (the new Assignee) manually or through the Auto Invest tool has accepted the Claim resell offer on the i-Platform stipulated in Clause 11.5. of the User Agreement. At the time of concluding the Assignment Agreement, the Claim shall be deemed transferred to the User (Assignee) making the purchase.

11.8. The commission fee for the resell is applicable for the User – the Assignor, as specified in the Price List.

11.9. After the Claim has been deemed sold, the Operator shall transfer the virtual money price equivalent to the resale price of the Claim indicated in the Assignment Agreement from the User’s (the new Assignee’s) Virtual Account to the User’s (the Assignor’s) Virtual Account, withdrawing the commission fee for the resell.

11.10. After the Assignment Agreement has been concluded, all further Loan principal payments arising from the Claim shall be received by the User (the Assignee). Any Interest and ancillary claims calculated for the period until the conclusion of the Assignment Agreement shall be received by the User (the Assignor), whereas any Interest and ancillary claims calculated after the conclusion of the Assignment Agreement shall be received by the User (the Assignee).

11.11. Resale of the Claim within the i-Platform may be carried out an unlimited amount of times.

11.12. The Operator is entitled to unilaterally and without prior notice to the User terminate resale of the Claims, in case if any material circumstances have occurred which in the opinion of the Operator may cause substantial loss to the Operator, the Creditor and/or the User. Acting in accordance with this Clause the Operator is not liable to the User and any third parties for any losses or expenses.

12. Liability

12.1. The User shall be held liable for all the losses incurred as a result of unauthorized conduct, if the User has acted illicitly or has intentionally (on purpose) or due to gross negligence failed to fulfil any requirements prescribed in the User Agreement.

12.2. The User shall assume liability for all losses, assumed commitments, or other activities carried out on the User’s Profile and the User’s Virtual Account until the Operator has been warned about it according to Clause 3.10. of the User Agreement and until the Operator has had a sufficient time to block access to the User’s Profile and the User’s Virtual Account.

12.3. If, as a result from illicit activity of the Operator, the User suffers losses, the Operator shall reimburse all direct losses inflicted upon the User. The extent of damages is restricted with the amount of the funds present in the User’s Virtual Account at the time when the losses incurred.

12.4. The Creditor has confirmed to the Operator that the Creditor is issuing Loans in accordance with the laws and regulations of the country where the Loan agreement is entered into, and that the Creditor complies with such laws and regulations throughout the period of validity of the Loan Agreement. The Creditor has confirmed that it assesses the solvency of the Borrowers, and with due diligence makes sure of the accuracy and completeness of the data provided by the Borrower to make sure that the Loan issued to the Borrower is secure. The User is aware of and confirms that the Operator is not responsible for the accuracy and completeness of the information provided by the Borrower and/or the Creditor.

12.5. The Operator shall be fully released from any liability towards the User for any losses that the User has or might suffer as a result of using the i-Platform or purchasing the Claims, including:

12.5.1. If the User has failed to observe the User Agreement provisions.

12.5.2. As a result of illicit conduct of third parties until the moment when the User’s Profile is blocked pursuant to the procedures established in Clause 3.10 of the User Agreement.

12.5.3. Due to interrupted communications and other interruptions or obstacles that are not dependent on the Operator.

12.5.4. If, pursuant to the User Agreement, the User’s access to the User’s Profile has been blocked.

12.5.5. Due to the Borrower infringing the Loan Agreement or the Borrower’s illicit conduct.

12.5.6. Due to the performance or delayed performance of the User’s commitments arising from the Assignment Agreement.

12.5.7. If the User has sold the Claim with a discount.

12.5.8. If the User (legal entity) has several representatives and the Operator has not been able to acquire appropriate persuasion on a form of representation rights (sole or joint signatory rights), sole responsibility on possible losses that could arise to the legal entity lies to the person who submitted the application for the registration with the i-Platform.

12.6. The Operator does not have the duty to pay for the Claim or make any other payments to the User, before the Creditor has received Borrower’s payment pursuant to the Loan Agreement and transferred the respective part to the Operator as per the Assignment Agreement.

12.7. The Operator or the Assignor does not have to repay or compensate to the User the paid Assignment Fee or any part thereof.

12.8. The Users settle transactions on the i-Platform directly and on their own responsibility. The Users are entitled to use the draft agreement forms offered on the i-Platform on their own responsibility and at their own risk. The Operator shall not be responsible for possible commitments arising from the applicable laws that might originate to the Users as a result of transactions concluded on the i-Platform.

12.9. If the User denies having authorized (given consent) the Transaction, the use of the e-mail address and password to access the User’s Profile shall be deemed a sufficient evidence for the User giving its consent or has intentionally or negligently failed to fulfil the duties prescribed in the Clauses 3.9 and 3.10 of the User Agreement.

12.10. The Parties shall not be liable for non-performance or inappropriate performance of obligations under the User Agreement if it is due to force majeure. Force majeure means any unforeseeable emergency or event beyond the control of the Parties and not caused by their mistake or negligence or which prevents the performance of any of the obligations under the Agreement and which could not have been avoided by taking reasonable precautions. Each of the following cases, events or circumstances shall be considered as a force majeure for the purposes of the User Agreement (the list is not exhaustive):

12.10.1. Uprising, revolution, civil war, armed conflict, terrorism, riot, rebellion, insurrection, civil commotion or disorder, usurpation of civil or military government, hostilities, war or warlike operations (whether a state of war be declared or not), invasion, act of foreign enemy, as well as strike, lockout, boycott.

12.10.2. Confiscation, nationalization, mobilization, or commandeering under the order of any government de iure or de facto, ruler or any other act or failure to act of any local or national government.

12.10.3. Hurricane, earthquake, landslide, floods, inundation, lightning, cyclones, storms, other extreme climatic or environmental circumstances which have been declared or recognized as natural disasters under applicable law, and pandemics, epidemics and other large-scale diseases.

12.10.4. Nuclear explosion or any other explosion, radioactive contamination (including, but not limited to that from nuclear fuel, nuclear waste, nuclear explosives), ionizing radiation, chemical or biological contamination.

12.10.5. Crashing aircraft, spacecraft or satellite, or any part thereof, and/or pressure waves caused by supersonic speed devices.

12.10.6. Events, occasions or circumstances which under the applicable laws are declared as emergency, crisis or extraordinary situation in the Republic of Croatia or any administrative territory thereof.

12.10.7. The Borrower fails to perform its obligations under the provisions of the Loan Agreement based on any of the cases of force majeure described in this Clause.

12.11. In the occurrence of such force majeure circumstances, the Party who has suffered from the circumstances caused by force majeure, is obliged to immediately inform the other Party in writing. If further performance of the User Agreement is not possible due to force majeure, then either Party has the right to terminate the Agreement by notifying the other party in writing at least 10 (ten) business days in advance. In all the other cases the Parties Party must immediately resume the performance of its duties once the force majeure circumstances have ended.

12.12. During the performance of the User Agreement, when using means of communication, the Operator shall not be liable for damages incurred due to disturbances in using mail, facsimile, electronic or other means of communication as well as technical equipment ensuring the relevant Operator’s services, including, but not limited to communications failures, i-Platform malfunction, the malfunction of electronic data exchange and payment systems (including online banking) of the credit institutions.

13. Authorization

13.1. By entering into the User Agreement, the User authorizes the Operator with the right of sub-authorization to perform the following activities upon conclusion of the Assignment Agreement:

13.1.1. To manage the Claim against the Creditor on behalf and in the interests of the User, including, but not limited to, receiving the payments and recovering the debt, exercising all rights granted to the User by the relevant Assignment Agreement on behalf of the User.

13.1.2. To manage the Claim in full extent and take all necessary actions to ensure that the Creditor continues servicing and recovery of the Loan, performs the Loan Agreement until the full repayment of the Loan, resulting in full settlement of the Claim.

13.2. The User is informed that the authorization is valid for the Operator for the entire term of the respective Assignment Agreement and the actions performed by the Operator in this regard are binding on the User, and the User refuses to file any claims against the Operator with this respect.

13.3. By entering into the User Agreement, the User authorizes the Operator to perform the following activities:

13.3.1. To transfer the Assignment Fee from the User's (Assignee's) Virtual Account to the Assignor's account or the Assignor's bank account.

13.3.2. To divide the payments received from the Creditor for the performance of the Claim among all Users (Assignees) who have valid rights to the respective Claim and to transfer the payments to the User's (Assignee's) Virtual Account.

13.3.3. Withhold all payments in accordance with Section 10 of the User Agreement.

13.3.4. At any time to enter into a buyback agreement of the Claim with the Creditor repurchasing the Claim from the User (Assignee), paying to the User's (Assignee's) Virtual Account the buyback price established in the Assignment Agreement.

13.3.5. At any time on behalf of the Creditor to settle the Claim by transferring to the User's (Assignee's) Virtual Account an amount equal to the remaining principal amount of the Claim and accrued but not yet paid Interest or transferring (assigning) to the User the Creditor's claim against the Borrower arising from the Loan Agreement.

13.4. The User is informed that the provided authorization with respect to the Operator is valid for the entire term of the User Agreement, is irrevocable and the actions taken by the Operator in this regard are binding on the User and the User refuses to file any claims against the Operator in this respect.

13.5. The Operator, as the User's authorized representative, is liable for loss caused to the User by its actions (actions or omissions) only to the extent that it can be directly and distinctly blamed for the occurrence of such losses and only in the amount of funds in the User's Account. The Operator is not liable for indirect losses and lost profits.

14. User’s personal data

14.1. The Operator is entitled to process all User’s personal data received from the User, as well as to hand over to and receive the User’s personal data and other information from legally entitled third parties, databases, registries (such as the Population Register, State Social Insurance Agency, Enterprise register, etc.) and to process it.

14.2. The purpose of processing the User’s personal data is keeping client records, offering, rendering and maintaining services, financial and statistical analysis, exercising and protecting of the rights of the Operator and/or the User arising from the User Agreement as well as the Assignment Agreement.

14.3. The Operator is authorized to disclose the User’s personal data:

14.3.1. To any person related to the fulfilment of the commitments arising to the Operator from the User Agreement (including to communication service providers, payment intermediaries, credit institutions, etc.);

14.3.2. To the parent company of the Operator, its governing enterprise and any enterprises dependent on the governing enterprise, affiliated companies of the Operator, other companies or enterprises, which directly or indirectly have obtained a significant share in the share capital of the Operator or in which the Operator has obtained direct or indirect participation, insofar as such information is necessary for the performance of the functions delegated to them.

14.3.3. To outsourced service providers that the Operator has engaged in the provision of the services arising from the User Agreement, insofar as such information is necessary for the performance of the functions delegated to them.

14.3.4. To personal data operators registered with the Data State Inspectorate of the Republic of Croatia of personal data processing systems, the supervisor whereof is the Operator, insofar as such information is necessary for the performance of the functions delegated to them.

14.3.5. Upon handing over (transferring) the Claim.

14.3.6. To a third party, who is taking debt collection steps to recover a debt from the User (such as debt collectors, lawyers, court bailiffs, insolvency administrators, etc.).

14.3.7. To the Operator’s IT services, legal, marketing, accounting, or auditing service providers, ensuring that the said persons have undertaken not to divulge such information.

14.4. The User agrees that the Operator is using the address, e-mail address, and/or telephone number indicated on the User’s Profile to send commercial communications about the products or promotions of the Operator or the companies affiliated to the Operator.

14.5. The Operator is authorized to call and send text messages (SMS) to the telephone number having the connection of a mobile communications operator as indicated in the User’s Profile, to send e-mails to the e-mail address indicated in the User’s Profile, as well as to dispatch mail to the User’s mailing address to reach the User.

14.6 Other information about the processing of personal data of the User and its representatives carried out by the Operator within the framework of the User Agreement can be found in the Operator’s Privacy Policy (link to the privacy policy - https:// www.credon.com).

15. Termination of the User Agreement

15.1. The Operator is entitled to restrict the User’s right to use the i-Platform and/or terminate the User Agreement and delete the User’s Profile without a warning, if:

15.1.1. The User breaches the User Agreement or the Assignment Agreement or otherwise illicitly uses the i-Platform.

15.1.2. The User has provided false or misleading information or counterfeit documents.

15.1.3. The Operator suspects money laundering, terrorism financing, or an attempt to do so, with the involvement of the User or the i-Platform.

15.2. The Operator has the right to unilaterally terminate the User Agreement at any time during the validity period of the User Agreement, by sending a notice to the User’s e-mail. In such case, as of the moment of sending the said notice, the User is forbidden to conclude new Assignment Agreements, purchase a new Claim, or use the User’s Profile. Shall it happen, the Operator continues to manage all transactions with the Claims purchased by the User before the notice by the Operator on the unilateral termination of the User Agreement is sent.

15.3. At any time during the User Agreement validity period, the User is entitled to request that the User’s Profile is deleted, and the User Agreement is terminated on the condition that the User does not possess any Claim managed via the i-Platform and the User has no debt to the Operator.

15.4. If the User wishes to delete the User’s Profile and terminate the User Agreement, the User sends a notification from the User’s e-mail address to the Operator or submits a notification on the User’s Profile and confirms it according to the procedures established on the i-Platform.

15.5. If the User Agreement is terminated, the Operator transfers all funds of the User that are available on the User’s Virtual Account to the User’s Bank Account no later than within 3 (three) Business Days after the termination of the User Agreement.

16. Operator’s insolvency or cessation of the economic activity

16.1. In case the Operator becomes insolvent or has ceased its economic activity in any other circumstances, the conclusion of new Assignment Agreements on the i-Platform shall be immediately terminated. Funds equivalent to the amount of the virtual money deposited into the User’s Virtual Account shall be returned to the User.

16.2. The Operator’s insolvency or business closing shall not affect legal relations between the User, the Creditor, and the Borrower.

16.3. In case the Operator becomes insolvent or ceases the economic activity, the Operator shall be taking all the necessary steps so that a third party takes over the management of all Claims serviced on the i-Platform, notifying the Users about the new operator. Should this happen, the agreement among the Operator, the Creditor, the new operator shall constitute a legal basis to transfer Claim Servicing to a new operator except if the User within the period specified in the Operator’s notification explicitly notifies the Operator about the User’s wish to terminate the User Agreement according to the procedures established therein.

17. Other terms and conditions

17.1. The User is entitled to use the User’s Profile only after approval of the terms and conditions of the User Agreement. In case of amendments to the terms and conditions of the User Agreement, the User is entitled to continue to use the User’s Profile on the i-Platform only after approval of the amendments in the User's Profile or when the amendments have entered into force in accordance with the User Agreement.

17.2. Situations that are not described in the User Agreement and/or the Assignment Agreement shall be resolved in compliance with the principles and information reflected on the i-Platform.

17.3. If the User Agreement is concluded by electronical means, the User agrees and confirms that they shall lose the right of withdrawal specified in the Consumer Rights Protection Law of the Republic of Croatia on the day when the User has concluded the Assignment Agreement using the service provided by the Operator, i.e. the User has entered into the Assignment Agreement in his User’s Profile and the Assignment Fee has been transferred to the Operator.

17.4. If the representation of the numbers in words in the text of any document on the i-Platform, including the Assignment Agreement, differs from the representation in numbers, the representation of the numbers in words shall prevail.

17.5. All notifications of the Parties must be put in writing and sent to the other Party through the i-Platform, by mail or e-mail, to the mailing and/or e-mail address indicated on the User’s Profile. Correspondence sent in mail shall be deemed received on the 7th (seventh) calendar day following the date indicated on the stamp by the postal service provider on the acceptance of a registered letter. Notifications sent to the User’s e-mail address shall be deemed received within 24 hours after the dispatch.

17.6. To develop and improve the services offered on the i-Platform, the Operator is entitled to introduce unilateral amendments to the User Agreement. The Operator shall post amendments to the User Agreement on the i-Platform.

17.7. Within 30 (thirty) calendar days from the posting of the proposed amendments to the User Agreement on the i-Platform, the User may reject the proposal by notifying the Operator about the objections. If the Operator has not received any written objections, it should be deemed that the User has accepted the amended User Agreement and it has become binding to the Parties.

17.8. The Operator is entitled to unilaterally amend the Price List at any time, including to establish new commission fees and at the unilateral discretion of the Operator grant discounts from the commission fees indicated on the Price List. Information about any changes in the Price List shall be made available on the i-Platform at least 10 (ten) days in advance before the changes become binding to the User.

17.9. The Parties shall undertake not to divulge such information to any third parties, which derives from the present User Agreement, except as prescribed in the laws of the Republic of Croatia and in cases established in the User Agreement.

17.10. The User confirms that has got acquainted with the provisions of the User Agreement, they are clear and understandable to the User and the User is willing to undertake the liabilities, rights and obligations arising from the User Agreements, and the User waives any claims whatsoever against the Operator that such provisions have not been discussed or have been unilaterally determined by the Operator.

17.11. The User agrees and has no objection to receive any kind of commercial and non-commercial announcements, promotional materials, various news and all kinds of information that would be sent to the mobile phone number and e-mail address provided by the User. The User confirms that they have no objections to the way such information was sent or to its possible content.

17.12. The laws and regulations of the Republic of Croatia shall govern the legal relations arising from the User Agreement.

17.13. Any disputes between the Parties in relation to the use of the i-Platform and to the User Agreement shall be resolved by the court of the Republic of Croatia pursuant to the procedures laid down in the laws and regulations of the Republic of Croatia.

17.14. The User Agreement is binding until the moment, when the User’s Profile is deleted and the Parties have fulfilled their liabilities arising thereof.

17.15. The User Agreement shall be stored in the Operator’s database in a PDF file format for an indefinite time period.

17.16. The User Agreement is drafted in English. The text in Croatian is a translation. In the event of discrepancies between the languages of the Agreement, the text in English shall prevail.

INFORMATION ON THE EXERCISE OF THE RIGHT OF WITHDRAWAL

(applicable only in cases where the User is considered as a consumer)

You have the right to withdraw from this Agreement within 14 (fourteen) days without giving any reason.

The term of exercising the right of withdrawal will expire after 14 (fourteen) days from the date of concluding the User Agreement. If the expiry date falls on a national holiday, the right of withdrawal shall be exercised until (and including) the following working day.

In order to exercise the right of withdrawal, you must inform the Operator of the decision to withdraw from the User Agreement by means of an unambiguous notice sent to the following e-mail: info@credon.com.

For the right of withdrawal to be complied with, it is sufficient that you send out your notice of exercise of the right of withdrawal before the expiry of term of the right of withdrawal.

The right of withdrawal is considered lost when the service is provided in full, i.e. if you have concluded an Assignment Agreement using the service provided by the Operator or have approved the Assignment Agreement in your User’s Profile and the Assignment Fee has been transferred from the User's Virtual Account to the Operator.

Consequences of exercising the right of withdrawal:

If you withdraw from this Agreement, we will refund to you all payments received from you without unjustified delay and in any event no later than 14 (fourteen) days from the date we were notified of your decision to withdraw from the User Agreement. Refunds will be made using the same means of payment you used for the original transaction, unless you have expressly agreed to do otherwise. In any case, you will not be charged for such a refund.

If you have requested to start providing services within the withdrawal period, you must pay the service provider a reasonable amount that in respect to complete performance of the User Agreement is proportional to the performed part of the User Agreement until you notify us of your withdrawal.

User agreement

User agreement

GENERAL TERMS AND CONDITIONS OF THE i-PLATFORM(USER AGREEMENT)

INFORMATION ON THE EXERCISE OF THE RIGHT OF WITHDRAWAL

GENERAL TERMS AND CONDITIONS OF THE i-PLATFORM
(USER AGREEMENT)