Terms & Conditions

Terms and Conditions of Use

Before proceeding, kindly review these Terms and Conditions of Use (“Terms of Service”) for FinQuest (the “Platform”). These Terms of Service govern the services made available to you through this Platform. The services are not made available to any person in any jurisdiction where its use would be contrary to any law. Nothing on the Platform should be considered an offer or solicitation to buy or sell any service or product to any person in any jurisdiction where such offer or solicitation would be unlawful. Please note that having access to our services cannot be construed as considered an offer or solicitation where such access, offer or solicitation would be unlawful in any jurisdiction.

This Platform is owned and operated by FinQuest Technologies (“FinQuest PH”). By using the Platform, you are agreeing to be bound by these Terms of Service, all applicable laws and regulations, and agree that you are responsible for compliance with any applicable local laws. If you do not agree with any of these terms, you are prohibited from using or accessing this site. The materials contained in this website are protected by applicable copyright and trademark law.  

We may revise these Terms of Service for the Platform at any time without notice. By using the Platform you are agreeing to be bound by the then current version of these Terms of Service.

About FinQuest

The Platform is designed to help users (“User” or collectively, “Users”) view, access, filter, and apply for loan products offered by participating financial institutions, including banks, non-bank financial institutions, and financial technology companies (“Lenders”). Through FinQuest, users can browse, compare, and apply for loans, obtain approvals from Lenders, and digitally monitor the status of their loan applications (each a “Service” and collectively, the “Services”). For more details on the Services provided, please refer to Schedule 1 of these Terms of Service.

Registration

You may be required to register with us to access and use a Service. We have absolute discretion in deciding whether to register you as a User and may in any circumstance reject any registration(s) without having to provide any reason whatsoever. To register with us, you must create an account (the “Account”) on the Platform.

In creating the Account, you must provide accurate, current and complete information that we may require about yourself when creating the Account. If we believe your details are not accurate, current, or complete, we may reject your registration. For the avoidance of doubt, we are not obliged to check if the information submitted is accurate, current or complete.

We may at any time require you to provide us with additional information and documents for the purposes of verifying your identity if we deem it necessary.

While you are registered with us as a User, you must keep the information provided to us up to date and notify us of any changes.

Accounts

We will only create an Account for you if you meet our procedures for opening of Account, including our user verification procedures.

You must not create more than one Account for yourself by using different email addresses or other identifying information.

The Account can only be used for your own transaction. You cannot use the Account to transact on behalf of any person.

Where you have a representative who is operating your Account for your own transaction, such representative shall be either: (a) a full-time employee of yours and authorised to act on your behalf by virtue of such employment; or (b) duly authorised in writing by you to act on your behalf. We may from time to time require you to submit to us a list of such authorised representatives along with their details, in which case you will procure the same for submission to us in compliance with all applicable laws, including but not limited to obtaining the consent of such representative(s) to provide any personal information.

We may suspend or terminate the Account at any time and for any reason immediately upon written notice to you. You may terminate the Account by giving at least 3 business days prior notice in writing to us.

Representations & Warranties

You represent and warrant to us that:

(a) for corporate Users, you will enter into these Terms of Service as principal and you are organised and validly existing in the Republic of the Philippines and are in good standing;

(b) for corporate Users, you have the capacity to provide the required information to us under these Terms of Service and to accept these Terms of Service on behalf of your company;

(c) you have the power to enter into, perform and deliver these Terms of Service and have taken all necessary action to authorise your entry into, performance and delivery of these Terms of Service;

(d) the obligations expressed to be assumed by you under these Terms of Service constitute legal, valid, binding and enforceable obligations on you;

(e) the entry into and performance of these Terms of Service by you do not and will not conflict with (i) any laws or regulations applicable to you, or (ii) your constitutional documents (for corporate Users);

(f) all authorisations required or desirable (i) to enable you to lawfully enter into, exercise its rights and comply with your obligations under these Terms of Service, (ii) to ensure these Terms of Service are admissible in evidence in your jurisdiction of incorporation, and (iii) for you to carry on your business, have been obtained or effected and are in full force and effect;

(g) you have taken all necessary action to authorise your entry into and performance of the transactions contemplated by these Terms of Service;

(h) you are solvent and there are no reasonable grounds to suspect that you are unable to pay your debts as and when they become due and payable;

(i) you will not access the Platform to use the Services if the laws of your jurisdiction prohibit you from doing so in accordance with these Terms of Service;

(j) you will not be using the Platform for any illegal activity, including but not limited to, money laundering and the financing of terrorism;

(k) you are a resident/ citizen of the Philippines;

(l) any information contained in or provided by you is true and accurate in all material respects as at the date it was provided or as at the date (if any) at which it is stated;

You will promptly inform us in writing of any changes in the information provided.

The representations and warranties made in this clause are deemed to be made by you by reference to the facts and circumstances each time you use a Service.

You acknowledge that you have made these representations and warranties with the intention of inducing us to enter into these Terms of Service and that we have entered into these Terms of Service on the basis of and in full reliance on such representations and warranties.

Fees and Expenses

We may charge such fees for providing the Services and commissions on the transactions through the Platform. The prevailing rates of charges will be published on the Platform. Currently the Platform is free for Borrowers but this may be subject to change at any time at our discretion. 

Any changes to the fees and commissions apply from the date that such changes are published on the Platform. We will endeavor to notify you through the Platform in advance of any changes to the fees or commissions.

Collection, Processing, and Storage of Personal Information

FinQuest PH is committed to fully protect your personal data privacy in compliance with Republic Act No. 10173, otherwise known as the Philippine Data Privacy Act (“DPA”), its implementing rules and regulations, and all circulars of the National Privacy Commission (“NPC”). Please refer to the Platform’s Privacy Policy for details on the manner by which we collect, process, and store your personal information, and the security measures we take to secure your personal data privacy.  

We will use reasonable measures and to the extent permitted under the DPA to maintain the security of all information collected against any loss, theft, unauthorised use, disclosure, or modification and to ensure the integrity of the information.

This clause is not, and shall not be deemed to constitute, an express or implied agreement between us for a higher standard of security measure than that prescribed under the DPA.

Written Communications

Any written communication to be made between us must be in writing and in English. Such communication may be made by e-mail.

Written communication from us to you will be sent to your e-mail address recorded in our system; and from you to us, must be sent to our e-mail address. They will be deemed effective on the date it is delivered by e-mail, unless otherwise notified that the electronic mail was not delivered.

Assignment and Transfer

We may, at any time after giving notice to you of our intention of doing so, assign or transfer any of our rights and obligations under these Terms of Service to any person. You shall not assign or transfer any of your rights or obligations under these Terms of Service to any person.

Intellectual Property

Except as otherwise expressly stated herein, the copyright and all other intellectual property in the contents of the Platform (including, but not limited to, all design, text, sound recordings, images, links, logos, business names, trading names, service marks, trademarks, or internet domain names) are the property of FinQuest PH. As such, they may not be reproduced, transmitted, published, performed, broadcast, stored, adapted, distributed, displayed, licensed, altered, hyperlinked or otherwise used in whole or in part in any manner without the prior written consent of FinQuest PH.

Indemnity

You agree to indemnify us for and keep us indemnified against all liabilities, obligations, actions, suits, claims, demands, losses and damages which we may incur or suffer, and all costs (including legal costs), charges and expenses of reasonable amount and reasonably incurred by us, arising from (a) your use of a Service and Platform, (b) any breach by you of these Terms of Service, (c) the exercise of our rights under these Terms of Service by us, (d) any claim by any third party against us arising from providing a Service to you, (e) your violation of any applicable law (domestic or foreign), and (f) your access and use of the products or services provided by third parties on our Platform.

Disclosure and Disclaimer

The material herein prepared and the Services are for informational purposes only without regard to any particular User’s investment objectives, financial situation or means and should not be relied upon solely or in isolation. You should always check the suitability, adequacy and appropriateness of the product or service that is of interest to you and it is your sole decision whether to obtain or refrain from obtaining any product or service, offered through this Platform or otherwise. If you are in doubt as to the suitability, adequacy or appropriateness of any product or service referred to on this Platform, we suggest that you seek independent professional advice before you obtain any product or service via this Platform.

Nothing on this Platform is or shall be considered or construed as, advice, an offer, solicitation or recommendation by us or any third party to sell, buy, issue, allot or transfer, offer, advice on any product or service (including financial assistance or business loans) or representation that any product or service is suitable for you.

Any discussion of the risks contained herein with respect to any product or service should not be considered to be a disclosure of all risks or complete discussion of the risks which are mentioned. You should neither construe any of the material contained herein or on the Platform as business, financial, investment, hedging, trading, legal, regulatory, tax or accounting advice nor make this service the primary basis for any decisions made by or on behalf of you, your accountants, or your managed or fiduciary accounts, and you may want to consult your business advisor, attorney and tax and accounting advisors concerning any contemplated transactions.

Any views, opinions, advice or assistance which is given or provided to you by a third party after you have used this Platform do not represent our views, opinions, advice or assistance and are not checked, monitored, reviewed, verified or endorsed by us. We do not endorse, recommend or take responsibility for any third party who provides you with any views, opinions advice or assistance. You act or refrain from acting on any third party’s views, opinions, advice or assistance at your sole risk and sole discretion and you are solely responsible for any decision to act or refrain from acting on such views, opinions, advice or assistance. We are not responsible or liable for any loss or damage you may suffer or incur in connection with such views, opinions, advice or assistance.

Under no circumstances shall FinQuest PH be liable regardless of the form of action for any failure of performance system, server or connection failure, error, omission, interruption, breach of security, computer virus, malicious code, corruption, delay in operation or transmission, transmission error or unavailability of access in connection with your accessing this Platform and/or using the Services even if the FinQuest PH has been advised as to the possibility.

In no event shall FinQuest PH be liable to you or any other party for any damages, losses, expenses, costs whatsoever (including without limitation, any direct, an indirect, special incidental or consequential damages, loss of profits or loss opportunity) arising in connection with your use of this Platform and services or reliance on any information, materials or online services provided at this Platform, regardless of the form of action and even if the FinQuest PH had been advised as to the possibility of such damages.

Exclusion and Limitation of Liability

To the extent permissible under applicable law (domestic or foreign), we have no liability for any damages of any kind (including, without limitation, indirect, special, incidental, consequential or tort damages, or loss of profit, principle or revenue) in connection with your use of the Platform and Service even if we have been advised or are aware of the possibility such damages.

Should you choose to obtain any product or service provided to you by a third party on their own terms and conditions, FinQuest PH will not be responsible or liable for any loss or damage you may suffer or incur in connection with the terms and conditions applying to any contract entered into by you with any third party in relation to any product or service or for any acts, omissions, errors or defaults of any third party in connection with those terms and conditions. Further, FinQuest PH will not be responsible or liable for any loss or damage you may suffer or incur in connection with the terms and conditions of use or the privacy policy applying to any third party website or for any acts, omissions, errors or defaults of any third party in connection with those terms and conditions of use and/or privacy policy.

For any liability which cannot be legally excluded, and to the extent permissible under applicable law (domestic or foreign), in no event will our liability incurred in a contract year for money damages exceed: (a) a sum of PHP1,000.00;. For the purposes of this Clause, a “contract year” shall mean a 12-month period commencing from the date of this agreement or any anniversary of it.

Amendments

We may amend these Terms of Service at any time by notifying you by post, electronic mail, updating the Terms of Service on the Platform or by such means as we may think fit. You are deemed to accept and agree to such amendments by your access to the Platform and use of the Service.

Severability

If any of the provisions in these Terms of Service shall be deemed invalid, unlawful or unenforceable in any respect under any applicable law (domestic or foreign), the validity, legality and enforceability of the remaining provisions of these Terms of Service shall not in any way be affected or impaired.

Third Party Rights

No person has any right of third parties under the Philippine Civil Code and other applicable laws to enforce any provision of these Terms of Service, except as expressly provided in these Terms of Service.

No Waiver of Rights

A failure or delay in exercising any right, power or privilege in respect of these Terms of Service will not be presumed to operate as a waiver, and a single or partial exercise of any right, power or privilege will not be presumed to preclude any subsequent or further exercise of that right, power or privilege or exercise of any other right, power or privilege.

Governing Law and Enforcement

These Terms of Service and any non-contractual obligations arising out of or in connection with these Terms of Service will be governed by and construed in accordance with the laws of the Philippines and you agree to submit to the exclusive jurisdiction of the courts of Makati City, Philippines.

Miscellaneous

The information and materials herein are subject to change (including without limitation, modification, deletion or replacement thereof) without notice. FinQuest PH may terminate your access to the Platform and/or your use of the services on the Platform at any time without notice and without assigning any reason therefor.

Schedule 1

Loan Application Service

The Loan Application Service allows Users to submit information to be shared with Lenders in order for Lenders to assess and provide a quote (if applicable) for the provision of a loan by a financial institution. The Loan Application Service allows Users to conduct research, compare and obtain competitive quotes from multiple Lenders. For the avoidance of doubt, the Loan Application Service will only be used for sharing information with Lenders, initial quotes or offers made by Lenders will be conducted through the Platform and are non-binding. Contact details will be provided to both parties.  

Users acknowledge and confirm the following:

(a) that they understand that the Lenders are not in any way affiliated or connected to us; and

(b) their use of the Loan Application Service would not be contrary to any applicable law.

(c) that they must be a corporate entity that is legally incorporated in the Philippines or a Philippine citizen or resident.

To submit a Loan Request, you may be required to submit the following documents, among others:

(a)   Income tax returns immediately preceding the date of a Loan Request;

(b) Bank statements immediately preceding the date of a Loan Request;

(c) Audited financial statements immediately preceding the date of a Loan Request, for corporate Users;

(d) Contact Details;

(e) Proposed business loan amount; and

(f) Such other information or document that we may prescribe or request at the point of application or any other time.

For the purposes of making a Loan Request, you authorise us to disclose all relevant information that may have been provided to us to the Lenders in order to receive a loan offer in any manner we deem necessary (including but not limited to emails or through the Platform).

In the event that you successfully obtain a loan using the Loan Application Service with the Lenders in the FinQuest PH network: (a) you agree to allow and authorise the Lender to disclose the loan details, such as the loan’s quantum, tenor, interest rates and any other details specific to the loan, to FinQuest PH; or (b) you agree and undertake to provide the loan details, such as the loan’s quantum, tenor, interest rates and any other details specific to the loan, to FinQuest PH.