Credit Agreement

This Agreement constitutes the relationship between client valid full name as he/she registered thru this app (referred to as “User“) and the Lender (referred to as "Ourcash VIP") and the use of related functions and allied services (referred to as "this Agreement"). After the User accedes to this Agreement, the User is deemed to have agreed and expressly consented to the terms and conditions of this Agreement and is therefore bound by the terms, conditions and obligations as stated therein. The contents of this Agreement shall include all the terms and conditions of Ourcash VIP (including but not limited to the relevant registration agreements, notices and privacy policies, etc.). All terms and conditions constitute an integral part of this Agreement and shall be binding between the parties.


1. Ourcash VIP is a company that is engaged in the business of providing personal loan services and loan management services.

2. Users apply for personal loans through Ourcash VIP by providing basic information in order for Ourcash VIP to verify, validate, and cross reference such information for the loan’s approval.

3. Ourcash VIP provides risk rating services wherein it is akin to the credit rating services being used by the Credit Management Association of the Philippines (CMAP) in granting future and additional loans.

4. Ourcash VIP is a local service tailor made to the needs of Filipinos. Use of Ourcash VIP’s services from outside the Philippines shall immediately be denied.

5. All kinds of loan fees, interest and all loan details are shown in “DISCLOSURE STATEMENT ON LOAN”, which is an integral part of this contract.

User must abide by the following undertakings:

I. User undertakes that:

a) They have a regular paying job and/or have the financial capacity to pay the loan being applied for.

b) They will abide by the terms and conditions of the Agreement.

c) They will not do following:

    1. Provide false, untrue, fraudulent, and invalid information in order to secure a loan from Ourcash VIP;

    2. Provide misleading information to Ourcash VIP;

    3. Connive, conspire, collude or otherwise scheme with Ourcash VIP directors, partners and employees in securing or extending a loan;

    4. Attempt to commit or commit fraud prior and during the life of this agreement. Violations of the aforementioned undertakings shall cause the cancellation of this Agreement and the User shall be held liable for the full amount of the loan with interest and/or damages as the case may be.

II. The Loan Purpose

The Loan disbursed by the Lender is to be used for legal and legitimate purposes by the Borrower.

III. Loan Amount

The Borrower agrees to borrow from the Lender and the Lender agrees to lend to the Borrower a specific amount as stated in Approval Notice.

IV. Loan Term

a. The initial term of each Loan shall be determined by the Lender on the basis of the Borrower’s application of loan term which stated and may differ depending of the lenders choice on the application subject to the Lender’s approval which is provided to the Lender via Registered Phone and/or other means which the Lender may deem fit.

b. In case of using Prolongation Service the next term of the Loan shall be extended depending on which that has stated on the app subject to the Lender’s approval starting from the initial Due date. This service may be availed of before or after Due Date and provided the Interest and Default Interest (if applicable) are paid.

V. Charges

a. Charge on each Loan shall begin to accrue on the First Drawdown Date of that Loan.

b. During Loan Term, service charge at the rate of 25% plus 1% per day shall be charged on the Loan. The Default penalty shall be charged at the rate of 5% on the next day and 3% on the next preceding days addition to the Loan Charges against the Outstanding Loan when the Borrower fails to pay on or before the Due Date as shown on the Notice of Repayment provided to the Borrower

VI. Repayment and Prepayment

a. The Borrower must repay the Borrower’s Dues on the Due Date.

b. The Borrower may prepay the whole or any part of the Loan provided the Loan Term have passed at least half and not earlier than after days stated on the application from The First Drawdown Date.

c. The Borrower shall be required to make payment/repayment of the Borrower’s Dues with cash at the Payment Service Providers in partnership with the Lender or through any payment facilities as directed by the Lender from time to time.

VII. Enrollment and Usage

a) The user must download the Ourcash VIP application to their mobile phone or device. The user shall then provide the required information for purposes of registration. After successful registration, the user will be given his/her account details. The user may then proceed with the loan application as intended.

b) Ourcash VIP is a platform that requires a steady and stable internet connection. For purposes of registration and loan application, the user must be connected to a secure internet connection via WIFI or LTE as the case maybe. Internet connection is necessary in order to use the services of Ourcash VIP. Location access is also needed in order for Ourcash VIP to verify and validate if the user is indeed located in the Philippines.

c) The User shall fill out the fields as required. The information provided must be valid and true as this will be subject to validation and verification by Ourcash VIP. These pieces of information shall be processed, collected, used and retained by Ourcash VIP subject to the limitations as mandated by the pertinent Laws and Implementing Rules and Regulations in relation to Data Privacy Laws of the Philippines.

d) The User must follow the instructions in filling out the mobile phone number, password, and the verification code in order to properly use the Ourcash VIP application.

e) Subject to the provisions of the Privacy Policy, the User agrees, consents and authorizes Ourcash VIP to collect, process and retain personal information of the User such as, but not limited to: name, address, phone number, mobile phone number, financial information, credit status information, phone contacts and other related information in order to achieve the purpose of this Agreement.

f) The User undertakes that all personal information provided to Ourcash VIP is true and valid. Ourcash VIP is permitted to verify and/or validate such information through credit services verification, bank information verification, background investigation, company information verification, and other sources of information necessary to achieve the purpose of this Agreement.

g) Ourcash VIP ensures that personal information of the User shall be protected and secured from unauthorized access, breach, disclosure or sharing. The User agrees, consents and authorizes Ourcash VIP to use, manage, disclose personal data, information, archives, data sources to Third Parties in order to achieve the purpose of this Agreement including but not limited to collection, data verification, use telecom operators, among others. Subject to the limitations as set forth under the Data Privacy Act and its Implementing Rules and Regulations.

h) User agrees, consents and authorizes Ourcash VIP to use User's name to sign "Loan Approval" or "Loan Contract", which will be in electronic form. Ourcash VIP will transmit this data to allied Banking Institutions for purposes of securing the said loan.

i) The User expressly agrees that if prior to or during the life of the "Loan Contract", the said User breaches its terms and conditions, Ourcash VIP is authorized to do the following:

     1. If the loan is under process, it will be denied outright;

     2. If the loan has already been approved, it will be cancelled and the User shall be liable for the entire loan amount along with interest and/or damage as the case may be;

     3. If after the loan is cancelled the User fails to settle the amount due as determined, Ourcash VIP shall consider the same as a delinquent account and refer the same to the proper department for collection;

     4. If the collection attempts fail due to inability to contact the User and his reference contact persons among others, Ourcash VIP shall attempt to contact individuals from the phone contacts collected from the User subject to the limitations set forth under pertinent laws. No loan information shall be disclosed to Third Party contacts except for the User’s name and Ourcash VIP’s contact information.

j) User is allowed to terminate this Agreement provided he pays the total amount due plus interest as determined and agreed upon by the Parties.

k) The User agrees, consents, and authorizes that Ourcash VIP may deduct the corresponding charges, fees, interest and other related fees from the time the User’s loan has been approved.

l) The User agrees that if the User chooses to pre-terminate the Ourcash VIP transaction, the User will be held liable to pay the full amount of the loan, subject to interests and pre-termination fees which may be deducted from the Bank account directly.

m) The User agrees, consents, and authorizes Ourcash VIP to use User information to make business recommendations. Ourcash VIP will send out business and commercial ads to mobile phones, emails, and SMS among others.

VIII. Obligations of the Parties

a) After the User signs the contract, the User is obligated to pay back what is owed in accordance with the Agreement. Such as the due date and the amount due stated in the loan details.

b) Without the express written consent of Ourcash VIP, the User shall not be entitled to transfer the rights to any third party under the Agreement, otherwise the transfer shall be declared null and void.

c) Ourcash VIP reserves the right to cancel the User's loan, if the User violates the provisions of the Agreement.

d) This Agreement may only be modified, amended or terminated when both parties agree to such proposed amendment. Ourcash VIP reserves the right to change, by written notice to the User, the provisions of this Agreement in any way it may deem necessary or advisable to carry out the purpose of this Agreement as a result of any change in applicable laws or regulations or any future law, regulation, ruling, or judicial decision.

e) During the life of the Agreement, Ourcash VIP shall provide the User with the services agreed upon.

f) Users are required to pay Ourcash VIP for the service fee and other related fees in accordance with the terms and conditions of this Agreement.

g) Ourcash VIP has the right to use personal data information of the User, to perform data checking and risk assessment. Ourcash VIP may recommend loan plans tailor fit with the User’s capacity to pay.

h) Ourcash VIP has the right to verify and validate the information and data provided by the User. The User undertakes to provide correct information.

i) To ensure the security of transactions, Ourcash VIP is entitled to ascertain whether the User is using the application for legal means. Ourcash VIP reserves the right to have the User explain any findings, reports or information of illegal usage in writing before the same is acted upon.

j) If Ourcash VIP discovers that the User provided false and invalid information or is attempting to deceive or has deceived Ourcash VIP through fraudulent acts or machinations, Ourcash VIP shall have the right to terminate or cancel the transaction with the User without due notice.

IX. Delinquent Payments

a) When the User is late in settling what is owed and the User cannot be contacted, Ourcash VIP will contact the emergency contact which was provided and a collection attempt may be made on the said emergency contact.

b) If the emergency contacts provided cannot be contacted as well or is otherwise a false or invalid information, the User authorizes and consents that Ourcash VIP will use the phone contacts collected in order to locate the User. Ourcash VIP will not disclose nor divulge any information regarding the loan or this Agreement. However, Ourcash VIP will notify the Third-Party contact that the User cannot be contacted and that Ourcash VIP will need the User’s new contact information.

c) If the User is late in payment, Ourcash VIP shall have the right to collect the payment by issuing notices in the User's account, seek assistance from a collection company or pursue legal recourse by filing the corresponding Civil and Criminal action necessary against the erring User.

d) Ourcash VIP shall have the right to transfer, assign, or cede all or part of the claims to third parties including but not limited to such as the use of collection companies and others. The User agrees, consents, and authorizes Ourcash VIP to disclose necessary information in order that the collection companies may properly serve its purpose subject to the restrictions of the Data Privacy Act.

e) Collection attempts will only cease once the full amount has been settled or when the User has made an arrangement to settle the minimum amount due to be paid on a specific date. Failure to settle the payment arrangement shall cause Ourcash VIP to continue its collection attempt as provided under this Agreement.

X. Privacy of Information

The Lender shall observe privacy of personal information of Borrower obtained in relation to the loan application. Lender has implemented reasonable and appropriate organizational, physical and technical measures intended for the protection of Borrower's personal information against any accidental or unlawful destruction, alteration and disclosure, as well as against any other unlawful processing. The employees, agents or representatives of Lender who are involved in the processing of the personal information of the Borrower. Borrower shall operate and hold personal information under strict confidentiality and this obligation shall continue even after termination of employment or contractual relations.

XI. Disclosure of Information

The Borrower hereby expressly permits the Lender to transfer and disclose to

i. (i) the government authorities;

i. (ii) any party/person proposing or considering to tender any payment towards or purchase the indebtedness under the Loan;

i. (iii) its auditors, lawyers or any other debt collection agents;

i. (iv) credit reporting agencies;

i. (v) insurance companies, agents, contractors or third party service providers who are involved in the provision of products and services to or by the Lender and the holding company, head office, other branches, subsidiaries, related companies of the Lender;

i. (vi) for provision of or cross selling of products and services, any information relating to the Borrower’s affairs or account in respect of the Loan, this Credit Agreement, and at any time and to such extent as the Lender may at its absolute discretion deem expedient or necessary. The Borrower hereby agrees that the aforesaid information may be used, encrypted, transmitted and stored by the Lender and its holding company, head office, other branches, subsidiaries, related companies and/or may be exchanged to or with all such persons as the Lender considers necessary to the extent as permitted by Philippine laws. The aforesaid actions are without liability to the Borrower. The Borrower expressly consents to such actions and declares that no further consent from the Borrower is necessary or required in relation thereto.

    1. Notification regarding R.A. No. 9510

Pursuant to Republic Act (R.A.) No 9510 and its Implementing Rules and Regulations (IRR), creating the Credit Information Corporation (CIC) we are mandated to submit your basic credit data (as defined in R.A. No. 9510 and its IRR), as well as any regular updates or corrections thereof, to the CIC for consolidation and disclosure as may be authorized by the CIC, and other credit reporting agencies duly accredited by CIC, for the purpose of establishing your creditworthiness.

XII. Set-off The

Lender at its discretion shall set-off or deduct any amount from any account of the Borrower held at the Lender against any obligation due from the Borrower under this Credit Agreement, and other related documents, regardless of the place of payment, booking branch or currency of either obligation. Any set-off of fixed deposit by the Lender shall be deemed as premature withdrawal by the Borrower. If the currency of obligation is different from the currencies of accounts, the Lender may convert the currencies of the account into the currency of the obligation by reference to the market rate of exchange in its usual course of business.

XIII. Breach of Contract

Any violation of any provision hereof, any incomplete or mistaken performance of any obligation provided hereunder, any misrepresentation made hereunder, any material nondisclosure or omission of any material fact, or any failure to perform any covenants provided hereunder by any Party shall constitute a breach of this Agreement. The breaching Party shall be liable for any such breach pursuant to the applicable laws.

XIV. Force Majeure

In the event the Parties is prevented from complying with their obligations due to war or national emergency, civil commutation, strike and labor disputes, acts of GOD, force majeure, or other causes beyond its control, this Agreement shall be deemed suspended for the duration thereof; provided, however, that upon cessation thereof, this Agreement shall be deemed automatically in force again unless its period of effectively has, in the meantime, expired, in which event, the renewal of this Agreement shall be subject to negotiation between the parties hereto.

XV. Applicable Law and Dispute Resolution

In case of suit arising out of or in connection with the interpretation or enforcement of any provision of this Agreement, the exclusive venue therefore shall be the proper courts of the Philippines.

XVI. Validity of Contracts, Termination and Separability

a) This Agreement has been reviewed by the Parties. The Parties have had a full opportunity to negotiate the terms and conditions of this Agreement. Accordingly, the Parties expressly waive any common-law or statutory rule of construction that ambiguities should be construed against the drafter of this Agreement, and agree, covenant, and represent that the language in all parts of this Agreement shall be in all cases construed as a whole, according to its fair meaning and in order to pursue its lawful purpose.

b) In case any provision in this Agreement shall be declared invalid, illegal or unenforceable by a court of competent jurisdiction, the validity, legality and enforceability of the remaining provisions hereof and thereof shall not in any way be affected or impaired thereby.

c) If the User has clicked "Completed" in the Ourcash VIP platform, the User will be deemed to have agreed to the terms and conditions of this Agreement and thus the Agreement shall be binding between the User and Ourcash VIP.

d) Once the User has successfully paid off his loan with Ourcash VIP, this agreement shall automatically be terminated unless the User opts to start a new loan. In such case, the terms and conditions of this agreement shall be binding upon the User subject to future amendments and the consent of the User.

e) Except as otherwise provided in this Agreement, if any provision contained in this Agreement conflicts with any provision in any other documents, the provision contained in this Agreement shall take precedence. Except when the subsequent document is considered as an Amendment to this Agreement.