INTRODUCTION

These Terms and Conditions (the "Terms") set out:

• the process for registering as a User on the Faciit Platform
• how You can access and use the Website and the Faciit Platform
• our relationship with You
• the services We will provide to You

Acceptance of Terms: By accessing or using this platform, you acknowledge that you have read, understood, and agree to be bound by these Terms and Conditions. If you do not agree to these Terms, you must not use the platform. Continued use of the platform constitutes your acceptance of any updates or modifications to these Terms.

If You are unclear about any of these Terms or have any questions, please contact Our customer support team at hello@faciit.com before agreeing to them.

ABOUT US

Faciit Technologies Limited is a company incorporated and registered in England with company registration number 13908761 whose registered office is at 86 – 90, Paul Street, London, United Kingdom, EC2A 4NE ("Faciit" or "Us", "We" or "Our").

We are an alternative lending platform designed to help low-risk individuals with limited credit profiles access loans by demonstrating financial responsibility through savings. We operate a Save-to-Borrow model which requires users to save one-third of their financial goal over at least three months. We then match them with Lending Partners who provide the remaining two-thirds as a loan.

We do not offer any advice on the merits of entering into any loan agreement.

DEFINED TERMS

In these Terms, certain words have a specific meaning:

HOW TO BECOME A USER OF THE FACIIT PLATFORM

To access and use the Faciit Platform You must first become a User. To become a User You must:

• meet the eligibility criteria set out below both at the time of Your registration and also for the duration of Your time as a User
• agree to these Terms
• complete the User registration process as set out under the section headed 'User Registration'.

Once We have completed Our customer due diligence and You have been accepted as a User, We will:

• register You as a User of the Faciit Platform, and
• provide You with access to and use of the Faciit Platform as a User.

Once You are registered as a User of the Faciit Platform, You can then submit information for Us to prepare a Loan Request on Your behalf. The borrowing process is set out under the section headed 'Borrowing Process'.

OUR ROLE

We will:

• operate the Website and the Faciit Platform to enable You to enter into a Loan
• Provide you with access to the Faciit Mobile App.
• Conduct all relevant checks and assessments necessary to match you with a Lending Partner.

OUR AGREEMENT

These Terms should be read alongside, and are in addition to, Our Privacy Policy.

By becoming a User of the Faciit Platform, You may not also become a Lending Partner of the Faciit Platform until such time as all amounts outstanding under the Credit Agreement entered into by You have been repaid.

These Terms make up the entire agreement between Us and You in relation to Your Membership of, access to and use of the Faciit Platform together with any additional services We provide You in relation to the Faciit Platform.

Take notice that, by becoming a User and/or using the Faciit Platform:

• We are not obliged to introduce You to a Lending Partner
• We are not obliged to make a Loan available to You from one of the Lending Partners
• You are not obliged to proceed with any Loan; even after We have matched You with a Lending Partner and provided You with loan documentation, You can decide not to proceed with the Loan.

ELIGIBILITY CRITERIA

In order to become a User, You must meet the following criteria:

• You are at least 21 years old
• You have a UK bank account with Open Banking access for at least three months
• You are a UK resident for a minimum of six months
• You receive a regular income

For as long as You are a User of the Faciit Platform and by agreeing to these Terms, You agree that the following statements are true and accurate:

• You meet the eligibility criteria set out above
• the information You provide to Us in the course of registering as a User and whilst You remain a User, is true and accurate in all respects
• You have disclosed to Us any circumstances that You are aware of (including any actual or reasonably likely to occur legal claims proceedings or investigations against You by any third party) which could or might result in a material adverse change in Your financial condition, business or assets, and
• You will not allow any other person to access or use Your Faciit Account.

You must contact Us as soon as possible if any of the above criteria or statements are no longer true or accurate. We reserve the right to remove You as a User from the Faciit Platform as a result of You no longer meeting the eligibility criteria set out above or otherwise breaching any other condition of these Terms.

USER REGISTRATION

You agree to provide accurate registration information, including any relevant documents requested by Us. You agree to inform Us promptly of any changes to such information via the process set out in Your Faciit User Account.

You authorise Us, at any time, to use any means that We consider reasonably necessary to verify Your identity with any third-party providers of information. Please refer to the Privacy Policy for details of steps We may undertake to do this.

As part of the registration process, You will be required to provide a valid e-mail address and choose a password which meets Our password criteria. You must change Your password on a regular basis.

Upon successful completion of Our registration process We will provide You with your Faciit Wallet number.

You agree to keep Your Faciit Credentials secret and strictly confidential (as well as other codes that protect access to Your Faciit Account) and make sure that they are not stored on Your computer or other device in a way that enables others to impersonate You.

Once You have logged in using Your Faciit Credentials, We will assume that all correspondence, orders, transfers and instructions are made by You. You agree to inform Us immediately by e-mail at hello@faciit.com if You believe that any of Your Faciit Account information is being misused or if You think someone else knows Your Faciit Credentials so that We can suspend Your Faciit Account until We have investigated this further.

BORROWING PROCESS

GETTING STARTED

To apply for a Loan, You must enter the requested information via the loan application process accessible through the Faciit Platform, and answer any additional questions that We may ask You.

YOUR LOAN APPLICATION

1. Apply: Tell us how much you need and provide basic details.
2. Save: As a condition precedent to being matched with a Lending Partner, the User shall deposit an amount equivalent to one-third (⅓) of the Loan principal ("Savings Requirement") into the User's Faciit Wallet. The User shall fulfil the Savings Requirement by making at least three (3) consecutive monthly deposits, each constituting approximately one-third (⅓) of the Savings Requirement. These deposits shall be made in substantially equal instalments over a period of at least three (3) months before the Loan Request date. Failure to satisfy the Savings Requirement within the stipulated timeframe shall render the User ineligible to be matched with a Lending Partner, unless otherwise agreed in writing by Us.
3. Your Loan Request will be presented to Lending Partners so that they may consider making a Loan Offer to You
4. Borrow: If you demonstrate affordability, credit worthiness and subject to successful eligibility checks, we may (at our sole discretion) match you with a Lending Partner who provides the remaining two-thirds as a loan.

When assessing Your application, We will carry out a creditworthiness and affordability assessment using various sources of information including information from credit references agencies, the information You provide Us and the information We receive from third parties about You and Your financial status. For more information on how We process Your personal data please see Our Privacy Policy https://faciit.com/privacypolicy

LOAN OFFER PROCESS

Your Loan Request will be made available for Lending Partners to see (subject to certain criteria). Interested Lending Partners will thereafter make Loan Offers to you from where you can select your choice. A Credit Agreement will thereafter be provided to you by the Lending Partner(s) you selected separately.

We will follow all relevant legal and regulatory processes in providing You with Loan Offers. You should carefully review the information provided to You and only agree to the Credit Agreement if the terms set out in the Credit Agreement are acceptable to You and You intend to be bound by its terms. In particular, You should check the following are acceptable to You:

• the term of the Loan
• the interest rate
• the repayments, and
• any fee payable to Us or the Lending Partners.

Please note that We do not make any promises or assurances (known as representations to You), either directly or indirectly, to provide funding to You.

THE CREDIT AGREEMENT

The Credit Agreement is a separate agreement between You and the Lending Partner(s) and is governed by separate Terms and Conditions. These Terms do not form part of Your Credit Agreement.

Once a Credit Agreement has been made You will not be allowed to change the terms or withdraw from the Credit Agreement other than in accordance with the Credit Agreement.

PROTECTING CASH

All Cash in the Faciit Wallet is held by us in accordance with the FCA Client Money Rules, Payment Services Regulations (PSRs) and Electronic Money Regulations 2011. We will always deposit your Cash with one or more third party partners which are authorised by the Prudential Regulatory Authority and regulated by the FCA and are covered by the FSCS.

We will not be legally responsible in the event of default of any Partner that is holding your money in accordance with these Terms & Conditions. However, we will use our reasonable endeavours to make available to you any rights we may have against such Partners. In the event of our, a bank's, partner's or Trusted Third Party's default you may have to share in any shortfall in proportion to the value of Cash which we, the bank, partner or Trusted Third Party hold for you with other clients.

OUR FEES

Save as set out in this section and in any relevant Credit Agreement, We will not charge You a fee for Membership of the Faciit Platform.

USE OF YOUR PERSONAL INFORMATION

In connection with Your use of the Faciit Platform and Our interactions with You, You hereby grant consent for us to collect information about You, including Your name, contact details and financial details, open banking data, financial behavioural data, situational insights (Your "Personal Information") to verify Your identity, for internal compliance, anti-money laundering and fraud checks, and credit risk in order to set up Your Faciit Account, to arrange Your matching with Lending Partners, to correspond with You, for statistical analysis, and to provide You with information about Our services and products.

We will handle Your Personal Information in accordance with applicable data protection law and will maintain appropriate data security procedures designed to protect against loss or compromise of personal data.

More detail about how We process Your Personal Information and how You may exercise Your rights in respect of that information is set out in the Privacy Policy. You should review this Privacy Policy to ensure that You understand how We process Your Personal Information and Your rights in respect of it.

ADDITIONAL WEBSITE TERMS

We do not guarantee that the Website and Faciit Platform, or any content within, will always be available or be uninterrupted.

You agree to access and use the Website and Faciit Platform only for its intended purpose and in accordance with these Terms. In particular, You agree not to:

• attempt to hack, make unauthorised alterations to or introduce any kind of malicious code to the Website or Faciit Platform by any means
• reverse engineer or decompile (whether in whole or part) any software available through the Website
• make copies, modify, reproduce, transmit, alter or distribute all or any part of the Website or any material or information contained on it
• disguise or interfere in any way with the IP address of the computer You are using to access the Website
• gain or attempt to gain, or assist other in gaining, unauthorised access to the Website and Faciit Platform
• use the Website and/or Faciit Platform for any purpose that is unlawful, including any fraudulent use
• use the Website and/or Faciit Platform to simulate communications from Us or another service or entity
• use the Website and/or Faciit Platform in any manner that disrupts their operation or causes it to fail.

DUTY NOT TO CIRCUMVENT

User hereby agrees not to engage with or have any backhand dealings with Lending Partners or potential Lending Partners from the Faciit Platform for similar lending transactions without first obtaining consent from Faciit. All communications including correspondence must be shared with our Lending Partners or potential Lending Partners on the Faciit Platform.

IP RIGHTS

Other than as set out below, as between You and Us, We own all present and future copyright, registered and unregistered trademarks, design rights, database rights and all other present and future intellectual property rights and rights in the nature of intellectual property rights existing in or in relation to the Website, Faciit Platform, Faciit Mobile App, and dealings, data, insights arising from Your interaction with Lending Partners. In particular, Faciit and the Faciit logo are trademarks of Faciit Limited. https://faciit.com/legal.html is the uniform resource locator (URL) of Faciit.

VARIATION OF THIS AGREEMENT

We may make changes to these Terms & Conditions and/or the Privacy Policy from time to time for any of the following reasons:

• to make the terms clearer or more favourable to You;
• to reflect a change in business practice or legal or regulatory requirements or recommendations;
• to provide for the introduction of new or improved systems, methods of operation, services or facilities;
• to ensure that Our business is run prudently and efficiently; or
• to reflect changes in Our costs of providing services to You;
• to rectify any genuine mistake; or
• where it necessary for the introduction of new features or services which may be of benefit to You.

TERMINATION

If You no longer wish to be a User of the Faciit Platform, and provided You have no Credit Agreements currently in force, You can notify Us at any time and We will end Your Membership.

We may terminate Our agreement with You under these Terms and end Your Membership of the Faciit Platform at any time if:

• You breach these Terms
• You breach any term of Your Credit Agreement(s) and fail to remedy the breach within any period notified to You
• We suspect that You have committed or have been involved in fraud, money laundering or other criminal activities, or
• You misuse the Faciit Platform by carrying out any of the prohibited activities set out under the section headed Additional Website Terms.

LIABILITY

You shall be liable (i.e. responsible) to Us for any loss or damage suffered by Us as a result of any breach of these Terms or any Credit Agreement by You, or any fraudulent or negligent use of the Faciit Platform.

We shall not be liable to You for any loss or damage which You may suffer as a result of being a User of the Faciit Platform or using the Faciit Platform (including if You fail to make expected repayments under a Credit Agreement), unless We have breached these Terms or the loss and damage has been caused by negligence, wilful default or fraud by Us or Our employees.

COMPLAINTS

If You want to make a complaint about Faciit You can e-mail Us at hello@faciit.com with brief details of Your complaint and Your Faciit Account Number.

For full details of Our complaints procedure including how We deal with Your complaint, please visit https://faciit.com/complaintspolicy

If We cannot resolve Your complaint within 8 weeks of receiving Your complaint, You have the right to refer Your complaint to the Financial Ombudsman Service (https://www.financial-ombudsman.org.uk/).

MISCELLANEOUS

In the event that any provision of these Terms is deemed by any competent authority to be unenforceable or invalid, the relevant provision will be changed to allow it to be enforced in line with the original to the fullest extent permitted by applicable law.

This Agreement is governed by the laws of England and Wales. This includes any dispute or claim arising out of or in connection with this Agreement or its subject matter, existence, negotiation, validity, termination or enforceability (including non-contractual disputes or claims).

NOTICES

You agree that all Information, notices, documents that We are entitled to send You electronically may be delivered to You via the Faciit Platform and/or to the email addresses provided by You at registration or may be sent by post to Your last known postal address. It is Your responsibility to check Your Faciit Dashboard regularly.

RECORDS CONCLUSIVE

The records kept by Faciit shall be conclusive of the facts and matters they purport to record, including evidencing the rights and obligations of any person in relation to each of the Credit Agreements unless We have acted fraudulently or negligently.

WAIVER

If We do not strictly apply Our rights under the Terms at any time, that will not prevent Us from doing so later.