Terms of Use

Version 1.0 date 28.08.2016

This policy outlines the terms of use for the Site, operated by the Company. This policy outlines the terms of use for the Site, operated by the Company. The Site is an online platform for peer-to-peer lending, facilitating transactions between lenders and borrowers in the private market of Israel. The use of the Site, including its system and the services offered through it, is governed by these Terms of Use, which, together with all declarations, approvals, and documents authorized by users, constitute an agreement between the Company and the user and form the legal basis for the rights and obligations of both parties. These Terms apply to all users of the Site, regardless of their type or status, and to all parts of the Site. Users must read these Terms of Use in their entirety and with attention before using the Site, as continued use signifies acceptance of these Terms in full. If the user disagrees with any of the Terms, they must cease using the Site.

  1. “Terms of Use”: The terms outlined in this policy, as updated from time to time.
  2. The Site”: Refers to the website at the address payment-pay.co.il, operated and managed by the Company, including all of its parts and components (including sections, elements, or content found on or hosted at other network locations, servers, or computer systems owned by the Company or leased by it). This also extends to any application the Company offers for download on mobile devices. This term further encompasses all content included or displayed on the Site from time to time, as well as any software, computer code, or related elements that are integrated into or used for the operation and access of the Site, including parts, components, and features accessible or activated through mobile devices.
  3. “The System”: An online platform for peer-to-peer lending, designed to facilitate connections between lenders and borrowers in Israel. In other words, the System acts as a medium for linking lenders and borrowers to facilitate and execute loan transactions, and provides a means for managing the transactions established between lenders and borrowers.
  4. “The Application”: Any software application that provides access to the System or any of its components.
  5. “The Engagement Documents”:This term refers to all documents that outline the terms, agreements, rights, and obligations between the Company and the users, which have been electronically approved by the user. The Engagement Documents include the engagement between the Company and the user, as well as between lenders and borrowers. These encompass the Terms of Use, loan agreements with their annexes, declarations and confirmations by lenders and borrowers, powers of attorney, confidentiality waivers, and similar items.
  6. “The Company”: PAYMENT Financial Technologies Ltd. (Company Registration Number: 515166544)
  7. “User”: Any individual who utilizes the SITE, including but not limited to browsing, viewing, inputting information, and similar activities.
  8. “Investor” or “Lender”: An individual who registers on the Site as a lender and offers and provides loans to borrowers through the System. It is clarified that in these Terms of Use, as well as on the Site and in the loan documents, both the terms “Investor” and “Lender” are used. However, no specific meaning should be attributed to the use of these terms. Investments through the System are strictly limited to providing loans via the System.
  9. “Borrower”: An individual who has registered on the Site as a borrower and has received a loan from lenders through the System.
  10. “The Engagement Documents”:This term refers to all documents that outline the terms, agreements, rights, and obligations between the Company and the users, which have been electronically approved by the user. The Engagement Documents include the engagement between the Company and the user, as well as between lenders and borrowers. These encompass the Terms of Use, loan agreements with their annexes, declarations and confirmations by lenders and borrowers, powers of attorney, confidentiality waivers, and similar items.
  11. “User Account”: A section of the Site accessible to the user via a personal password, where one can view the registered user details and the actions performed by them.
  12. “Computer”: Any electronic device that provides access to the Site or allows actions on the Site, including a desktop computer, laptop, tablet, mobile phone, and similar devices.
  13. “The Services”: The operational services of the Site, including the facilitation of loans provided by lenders to borrowers through the Site, as well as any other services the Company may offer from time to time via the Site, including but not limited to the services detailed in Section 3 below.
  14. “Content”: Any and all types of information, including but not limited to, all forms of written, visual, auditory, audiovisual content, or any combination thereof, presented in text, images, files, links, or other formats.
  15. “The Transfer Account”: A bank account held and managed by the Company or a trustee appointed by it, into which the amounts that lenders wish to lend are deposited, as well as the amounts paid by borrowers as loan repayments. Funds are then transferred from this account to borrowers and lenders in accordance with the criteria established and defined by the system and the user.

2. General

  1. The Site is developed and managed by the Company, which holds full ownership. Its purpose is to provide access to a system that facilitates the creation of agreements between lenders and borrowers in exchange for a fee, as outlined in the Terms of Use.
  2. The Company reserves the right to modify, expand, reduce, restrict, or discontinue, at any time and for any reason, at its sole discretion, the services provided through the Site, in whole or in part, whether temporarily or permanently. However, the Company will not cancel loan transactions that have been executed through the system prior to such changes, unless circumstances specific to those loans and the parties involved necessitate such cancellation..
  3. By using the Site, the User agrees to adhere to the Terms of Use in their entirety and as stated.
  4. As part of the registration process on the Site, the registrant explicitly agrees to the Terms of Use (and other related policies). However, this does not affect the applicability of the Terms of Use to users who are not registered.
  5. The Company reserves the right to prevent, suspend, discontinue, or restrict interactions between users, as well as to halt specific activities or types of activities within the system and on the Site. This may apply to one or more users, or to a group of users. Without limiting the generality of the above, the Company may exercise this right if there is a legal or other impediment; if the activity violates the terms of use or any contractual policies; if there is doubt regarding the accuracy of the personal information provided by the user; if the user fails to meet the criteria set from time to time under the terms of use and at the Company’s discretion; if the Company suspects that the activity is deemed suspicious according to criteria established at its sole discretion; or if the activity contradicts the Company’s business policy.
  6. The Company reserves the right to limit transactions made through the system from time to time, at its sole and exclusive discretion. This may include restrictions on loan amounts that can be granted or received, either for individual loans or in aggregate; limitations on users who do not meet criteria set periodically; restrictions on interest rates, loan terms, payment methods, etc.

3. Description of the System and Services

  1. The Site facilitates the establishment of loan agreements between Lenders and Borrowers, as detailed in the Terms of Use and associated contractual documents.
  2. It is clarified that in relation to all loan transactions that may be established between lenders and borrowers, the Company is not and will not be a party to such engagements, whether as an investor or a borrower. The Company’s role is strictly limited to the operation of the system and management of loans. The Company does not engage in any direct lending activities.
    Loan Offers by Investors: After completing the appropriate registration process on the Site, an investor may specify the amount of money they wish to lend, as well as the level of risk they are willing to assume, the degree of diversification, and the loan term. Once funds are transferred to the intermediary account, the system will publish loan offers in accordance with the criteria provided by the investor.
  3. Loan Search by Borrower: After completing the appropriate registration process on the Site and successfully passing various review and analysis procedures that the Company may conduct at its discretion, the user will have the ability to review the loan terms offered through the system. The user may search for loans that match the specific loan conditions they seek (e.g., amount, monthly repayment, duration, etc).
  4. Loan Binding: In any case where a borrower approves the terms of a loan offered by lenders through the system, a loan agreement will be established between the borrower and all the lenders included in the offer. The loan terms are as detailed in the relevant contractual documents, including the terms of the loan agreement that will be executed between the borrower and the lenders. Upon finalizing each loan agreement, the system will send a notification to the borrower and all relevant lenders, detailing the loan information. It is clarified that the personal details of the borrower and the relevant lenders will be kept anonymous by the Company, which acts as a trustee and authorized representative of the parties, as outlined in the contractual documents.
  5. Upon the completion of the loan transaction, the Company will manage the loan, and in this capacity: transfer the loan amount from the lenders to the borrower; transfer the borrower’s loan repayments to the lenders; and assist in the collection of the loan amounts.
  6. The Company charges fees for the services it provides, as detailed in the pricing schedule.

4. Registration to the System

  1. The use of the Site is strictly permitted only for individuals who meet all of the following conditions:
    a. They are citizens of the State of Israel (holders of an Israeli ID) and residents of Israel for tax purposes;
    b. They are over the age of 18;
    c. They are legally competent to undertake legal actions in Israel, and their competence has not been revoked under any law, including the Legal Competence and Guardianship Law, 1962, or declared bankrupt under the Bankruptcy Ordinance [New Version], 1980;
    d. They hold an active, unrestricted bank account in a bank located in Israel;
    e. They act solely on their own behalf and do not serve as a trustee or representative for any other individual or entity. The Company reserves the right to limit registration to individuals only, as opposed to corporations.
  2. Loans or the acceptance of loans will only be permitted for users who additionally meet the following conditions:
    a. All registration requirements for the Site remain accurate and valid;
    b. They are not undergoing any proceedings for asset seizure, appointment of a trustee, special management, execution, or insolvency procedures;
    c. They are not subject to any investigations or accusations related to offenses such as fraud, deceit, impersonation, or money laundering.
  3. Unregistered users are granted limited access to certain content and features available on the Site. An unregistered user may not and is not permitted to utilize the System.
  4. Users are permitted to complete the registration process on the Site only if they meet the registration criteria and have agreed to the Terms of Use.
  5. During the registration process, the user will be required to provide personal details and documents. This includes full name or company name, ID number, phone number, residential address, email, and bank account details. Please note that the required details and documents may vary between borrower registration and investor registration.
  6. The Company reserves the right to condition the registration for the Site or its usage from time to time upon the provision of additional information or documents, even if such information or documents were not requested during the registration process or prior use of the Site. Furthermore, the Company may permit the use of the Site only after completing its chosen verification and analysis procedures, which may take several days or, in some cases, even longer.
  7. During the registration process, users will be issued a username and password for the purpose of system identification and access to their personal area. Any action taken within the system or on the Site using the user’s username and password will be considered as having been performed by the user and with their authorization.
  8. The Company reserves the right, but is not obligated, to conduct checks on lenders and borrowers at its discretion and in accordance with all applicable laws. The User acknowledges that they do not rely on such checks and will not have any claims or demands against the Company in this regard.
  9. The user is required to provide true, accurate, correct, and complete information and must notify the Company of any changes to any details submitted. Without detracting from the user’s responsibility to inform the Company of such changes, the user acknowledges that as long as the Company has not been notified of the change, the Company is not obligated to act upon or take the change into consideration.
  10. By registering on the Site, the user consents to the Company retaining certain information about them and any payment methods they have entered into their account. Additionally, the user agrees that the Company may conduct checks and verify data with various parties at its discretion. The use of this information, as well as any other information about the user, will be governed by the Company’s Privacy Policy on the Site, which is an integral part of these Terms of Use. The user authorizes the Company to contact third parties, at its discretion, to verify the data provided by the user. The Company’s right to perform such checks and verifications does not imply any responsibility on the part of the Company concerning the information or exempt the user from their full responsibility regarding the information they have provided.
  11. The user is aware and agrees that:
    a. The Company is not a banking institution;
    b. Any loan agreement facilitated through the Site is directly entered into and executed between the lender and the borrower via the system. The Company is not a party to any such agreement, except in its role as the operator of the system. The Company itself neither lends nor borrows through the Site or the system.
    c. Every loan a user receives is provided directly by lenders operating through the system, and every loan a user grants is provided to borrowers who are active through the system.
    d. Providing loans involves various risks, including credit risk, and the Company is not responsible for any issues related to users’ (borrowers and lenders) fulfillment of obligations. The Company does not offer any guarantees concerning transactions conducted by users through the Site, and there is no assurance that the borrower will repay the loan amounts received or that they will be capable of doing so.
  12. The Company may, from time to time, allow users to modify or update certain aspects of their registration details. This can be done through the user’s personal information section on the Site.

5. Use of the Site and System

  1. The User declares and undertakes not to use the Site for any illegal or prohibited activities. Without detracting from this declaration and commitment, the User acknowledges and agrees that if the Company suspects that they may be involved in fraudulent, illegal, or inappropriate activities, the Company reserves the right to block their access to the system without prior notice. Additionally, the Company may report the User to the relevant authorities. Furthermore, if there is any suspicion regarding the legitimacy of a loan application or a lending request, the Company, at its sole discretion, reserves the right to cancel such requests and, if necessary, collect any due amounts from the User. The User shall have no claims or demands in this regard.
  2. Unauthorized Use Prohibition
    a. The user may not transfer or sell their rights on the Site, unless explicitly authorized by the Company under terms set by the Company, if applicable. Furthermore, the user shall not grant access to the Site to any third party, nor permit any other individual to use their account on the Site.
    b. The Client agrees not to disclose or share their password with any other individual, nor allow any third party to use it.
    c. The user agrees to promptly notify the Company in writing of any loss or theft of their system password, any disclosure of the password to third parties, and any loss or theft of a computer used for their account as soon as they become aware of such incidents. Additionally, the user will report in writing to the Company any misuse or other violations of the service offered on the Site, including the use of their password by others or any other breach that affects the security of the Site.
    d. In any case where the Company becomes aware of, or suspects, misuse of an account, the Company reserves the right to take any steps it deems necessary to prevent further misuse of the account. This may include, but is not limited to, modifying the account’s username or password and verifying the user’s identity.
  3. The user acknowledges and agrees that despite the reliability of the Site and the various control measures implemented by the Company, there may occasionally be instances where errors or incorrect proposals or orders occur (hereinafter: “Errors”). The Client agrees that in the event the Company identifies the presence of an Error, at any time, the Company shall have the right to delete and cancel the transaction involving the Error and to take any necessary actions, at its discretion, to rectify the Error.
  4. The user agrees not to use the Site in any manner that violates any applicable law or regulation

 

6. Fees

  1. The use of the Site and the establishment of engagements through it are subject to a fee paid to the Company for each loan agreement, in accordance with the rates and conditions set forth in the Company’s fee schedule. It is clarified that the fee schedule and the policy regarding fee collection may change from time to time at the Company’s discretion and without prior notice. However, any such changes will apply only to actions conducted after the date of the change. The fee schedule and its terms are an integral part of these Terms of Use.
  2. The user consents to the payment of fees in accordance with the Company’s fee policy and acknowledges the Company’s right to collect these fees by any lawful means. The user is aware and agrees that the Company, including any Additional Entity, is entitled, among other methods, to deduct the fees from any amounts the Company or its designated trustee is required to transfer to the user, whether in the context of loan provision or loan repayments.
  3. Without detracting from the provisions outlined in the Terms of Use, in any instance where the Company needs to pay a fee, handling charge, commission, or any other payment to third parties, including but not limited to banks with which the Company collaborates or for legal expenses related to debt collection, the Company is entitled to charge the User for such amounts. This may be done through any legal means, including by deducting the amount from payments due to the User.

7. Violations and Activity Restrictions

  1. The Company reserves all rights and remedies under the Contracts Law (Remedies for Breach of Contract) 1970, for any breach of the Terms of Use and related documents. Without limiting the generality of the foregoing, the Company shall be entitled to take all legal actions available to it on behalf of the lenders against borrowers for breaches of loan agreements.
  2. The Company reserves the right to restrict a User’s access to the Site by blocking their password, either temporarily or indefinitely. This action may be taken in any of the circumstances outlined above or below, or at the Company’s sole discretion, and without prior notice.
  3. The Company reserves the right to take the aforementioned actions, among others, in the event of one or more of the following occurrences, all at its sole discretion and according to the procedures established on the Site from time to time:
    a. The User has provided the Company with incorrect, false, incomplete, or misleading information and/or has failed to update the Company regarding any changes to the information provided (hereinafter: “Misleading Representations”), including situations where the Company has a reasonable suspicion that the User has done so.
    b. If there is a change in the status of the User that renders them ineligible to register for or use the Site (such as being declared bankrupt or legally incompetent, collection authority, etc.).
    c. The user’s unlawful avoidance of making any payments due to another user or to the Company.
    d. Engaging in any act or omission that could harm the Company or disrupt the proper functioning of the Site and/or another user on the Site and/or any party on their behalf, or otherwise interfere with or obstruct the Site’s operations. This includes, but is not limited to, disrupting server operations and the network of computers connected to the Site or its associated network, introducing malicious software code (such as viruses, spyware, etc.), or attempting to do any of the foregoing.
    e. Use of the Site and Company Services involving fraudulent activities, any other illegal actions, or any misuse of the Company’s services.
    f. Impersonation of any individual or legal entity.
    g. Refusal to provide the Company with required information related to the services offered on the Site, including details necessary for communication between the parties and for the provision of services.
    h. Violation of any provision of these Terms of Use or any applicable law related to the services and browsing on the Site.
    i. The User is declared bankrupt or insolvent; a permanent or temporary asset seizure order has been issued against them; a petition for their liquidation or asset seizure has been filed and not withdrawn or dismissed within 45 days; a temporary or permanent lien has been imposed on a substantial portion of their assets, and the lien has not been lifted or removed within 45 days; the User is declared a restricted debtor; the User’s bank account(s) have been restricted due to bounced checks; the User has requested a moratorium on proceedings or reached an arrangement with creditors; the User has been convicted of criminal offenses related to fraud, forgery, money laundering, or any other offense which, in the Company’s discretion, justifies account closure.
    j. The Company has concerns, at its discretion, that the User may be unable to fulfill their obligations to the Company or to other Users.
    k. In any other instance where, according to the law or these Terms of Use, it is required to cease the services to the user or any part thereof.
  4. The Company reserves the right to cease, suspend, block, or restrict any or all activities on the Site at any time, at its sole discretion, for the duration deemed necessary. This may occur in the event of a technical failure or any other issue that prevents or could prevent the proper execution of transactions through the Site, including payment or withdrawal activities. Additionally, such actions may be taken for upgrade, maintenance, or any other reason deemed justifiable by the Company. These actions will not affect users’ rights and obligations concerning previously established loan transactions, including the right of lenders and the obligation of borrowers to repay loan amounts. Whenever possible, the Company will provide advance notice of any expected suspension through the system.
  5. It is hereby clarified that any financial expenditure, cost, loss, or liability incurred by the Company, or caused to the Company due to violations or misleading representations by the User, including legal actions against the User, efforts to locate the User, and debt collection activities, shall be the responsibility of the User. The User shall indemnify the Company for such costs upon the Company’s first demand.
    a. The User may notify the Company at any time and at their discretion that they wish to terminate their registration on the Site (hereinafter: “Termination Notice”).
    b. The termination will only take effect after all of the user’s active loans (whether as a borrower or a lender) have been fully resolved.
    c. From the date of receipt of the Termination Notice, the user will be unable to offer or receive new loans, unless the user re-registers with the Site.
    d. The termination of a user’s account on the Site does not affect the validity of any loan agreements entered into before the date of the termination notice to the Company. It does not relieve the user of their obligations to fulfill any commitments and/or payments made before the date of the termination notice to the Company, nor does it impact the user’s right to receive any borrowed funds or alter any other obligations under these Terms of Use.

8. Limitation of Liability

  1. The use of the Site and the services offered herein is solely at the user’s own risk.
  2. It is explicitly stated and emphasized that:
    a. The use of the Site by the User is at their sole discretion and responsibility.
    b. The Company assumes no responsibility for the quality, extent, or nature of borrowers/lenders seeking to borrow/lend through the system. The approval of a User’s registration does not constitute any representation by the Company regarding these parties, including their financial status, economic capability, quality, reliability, or any other aspect related to them. Therefore, the Company is not liable for any actions taken by a User on the Site with other Users or third parties through the system.
    c. The Company shall not be held liable to any user for damages, expenses, or losses of any kind or nature that may be incurred or potentially incurred due to the actions or omissions of another user or a third party with whom the user has engaged through the Site.
    d. The use of any rating system by the Company to evaluate borrowers, loans, or the associated risks and pricing does not constitute advice to lenders or borrowers and does not represent any endorsement or recommendation by the Company. The decision to make a loan offer rests solely with the lenders, without reliance on any representations or details from the Company. Similarly, the decision to accept a loan is the sole responsibility of the borrowers, without reliance on any representations or details from the Company. Information, whether oral or written, provided to the user by the Site or the Company does not create any liability or responsibility beyond what is explicitly stated in these terms, unless expressly stated otherwise in writing. Should the user choose to rely on such information, it will be at their own risk.
    e. Advertisements Displayed on the Site: The Company reserves the right to display advertisements on the Site (including any part of it visible on computers or mobile devices) on behalf of third parties. It is expressly clarified that the Company is not responsible for third-party advertisements placed or displayed on the Site, or for the products or services offered by vendors, businesses, or any third parties through the Site. Any interaction between users and advertisers is conducted directly between the parties, without any involvement or liability on the part of the Company.Links: The Site may include links to third-party websites. It is clarified that these links are provided solely for the convenience of users, and the Company has no control over them. The user acknowledges and agrees that the Company is not responsible or liable for any content or representations on these external sites, including their availability or accuracy. The Company does not endorse these sites or their content, products, or services. The user assumes full responsibility for any risk arising from the use of such third-party websites.
    f. The Company assumes no responsibility for the accuracy or truthfulness of any information or content displayed on the Site regarding users or provided by advertisers and third parties, except for the information that has been directly submitted to the Company by those users.
    g. In the event that the Company receives reliable information indicating that a user, advertiser, or third party has posted incorrect information on the Site or has violated any law, including defamation prohibitions, the Company reserves the right to remove such information or the associated link. This action will fulfill the Company’s responsibility in relation to the matter.
    The Company makes substantial efforts to maintain the site’s functionality and ensure continuous and uninterrupted operation of the system. However, the user acknowledges that there may be interruptions in service continuity or service failures, including issues and disruptions originating from hardware, software, communication, or human errors. Additionally, there may be delays and interruptions in the operation of the site, system, or any other part thereof due to maintenance and upgrades. It is clarified that the Company shall not be liable, directly or indirectly, for any damages, costs, or losses of any kind resulting from the interruption or disruption of the services, in whole or in part, through the site, for any reason, including faults or errors that prevent a user from performing any action.
    The user acknowledges and agrees that access to certain sections of the Site may be subject to, or affected by, the installation of specific hardware and/or software components on their computer, including particular browsers and related extensions. The user is responsible for identifying and installing any necessary software components required for using the Site, at their own cost and risk. The Company bears no responsibility for these software components, nor for any defects they may have, or for any errors or discrepancies in content display resulting from the software, its installation, failure to install, or any incompatibility of the software, its components, or specific versions thereof with the Site or its content, in whole or in part. Without limiting the generality of the above, access to the Site and its content, as well as their display, may vary based on the hardware, operating system, and software configurations on the user’s computer. The Company does not guarantee that content will be displayed fully, identically, or correctly on different devices.
  3. The Company makes no representations of any kind, whether explicit or implied, and assumes no responsibility for: (a) the security, accuracy, reliability, or performance of the Site; (b) the Site being free from errors, omissions, interruptions, defects, delays in operation or transmission, communication line failures, theft, or unauthorized access to information on the Site, or that any such errors or defects will be corrected; (c) the accuracy, quality, frequency, completeness, or usefulness of any information provided by the Site; or (d) any technical issues related to phone or network lines, online computer systems, servers or providers, computer equipment, software, or any email failures resulting from technical problems or internet traffic overload, whether on the Site or the server or any combination thereof, including damage or harm to users as a result of these issues.
  4. In no event shall the Company be liable for any loss or damage, including personal injury or death, resulting from the use of the Site or its services, the content displayed on it, or through the Site or its services, or from the use of the Site or its services by any user, whether online or offline
  5. Under no circumstances shall the Company or any of its representatives (including, but not limited to, its managers, employees, or agents) be liable to the User for any damages of any kind, including but not limited to, indirect, incidental, special, punitive, or consequential damages, in connection with the use of the Site, its content, or its services. This includes, without limitation, any damages related to the quality, accuracy, reliability, or usefulness of the information provided through the Site, whether or not such damages were foreseeable or if the Company was aware of the possibility of such damages.

 

9. Delay and Offset

  1. To ensure the fulfillment of all user obligations under these Terms of Use towards the Company and other users, the Company shall have a lien over all funds owed or to be owed to the Company, or held by the Company, or in the transition account from time to time. The Company may withhold the execution of any payment due to the user, including from the transition account, until all obligations towards it are fulfilled, including instances where the due date for such obligations or service provider charges has not yet arrived. Without derogating from the above, the Company is entitled to offset any amount owed to the user against any debt or obligation owed to the Company, by notifying the user without the need for prior notice, regardless of whether the amounts in question are yet due or not.

10. Company Rights on the Site

  1. The Site, in its entirety, including all content and the underlying software, is the exclusive property of the Company or third parties who have granted the Company permission to use it. Without limiting the generality of the foregoing, all intellectual property rights, including copyrights, methods, trademarks, trade secrets, and any other proprietary materials on the Site, as well as any software, application, computer code, graphic files, text, databases (including user information and detailed loan portfolios listed and/or displayed within it), and any other related elements, are solely owned by the Company. For clarity, the Company’s rights also extend to the personal account section of the Site and any information contained therein..
  2. The following actions must not be undertaken without obtaining the express prior written consent of the Company:
    a. Copying, distributing, publicly displaying, or providing any part of the Site to a third party, as detailed in Section 10.1 above.
    b. Making any commercial use of the data published on the Site, including the database, product or service listings, or other details published on the Site.
    c. Disclosing information to third parties, including the Company’s competitors.
    d. To display the Site in any design or graphical interface different from those created by the Company, except with prior written consent from the Company.
    e. To make use of the names “PAYMENT,” “PAYMENT PAY,” “PAYMENT FINANCIAL TECHNOLOGY,” “פיימנט פיי,” “פיימנט טכנולוגיות פיננסיות,” “פיימנט טכנולוגיות,” or any similar names or trademarks appearing on the Site, which are the property of the Company.
    f. Use any names or trademarks published on the Site on behalf of third parties.

11. Customer Service

  1. For any additional inquiries regarding the Company and/or the Site and its operations, users are encouraged to contact the Company through the “Contact Us” section on the Site, by phone, or via the email address provided on the Site.

 

12. Jurisdiction

  1. The Terms of Use and the use of the Site shall be governed by the laws of the State of Israel (without regard to any principles of international conflict of laws that might direct the application of foreign law).
  2. The parties have selected the competent court in Tel Aviv as the exclusive jurisdiction for any matters related to these Terms of Use.
  3. The User shall not initiate any legal proceedings against the Company unless they have first submitted a written request to the Company and the Company has not responded to the request within 30 days from the date of submission.

 

13. Miscellaneous

  1. The Company reserves the right to modify and update these Terms of Use, in whole or in part, at any time, at its sole discretion, and without prior notice. Any changes to the Terms of Use will take effect upon their publication on the Site or at a later date as specified. The Company will determine how users are notified of any amendments to the Terms of Use.
  2. In the event that a competent authority or court determines that any provision of these Terms of Use is illegal, invalid, or unenforceable, such provision will be modified to comply with legal requirements, so as to approximate as closely as possible the original meaning and intent of the Terms. The invalidation or modification of a specific provision under the circumstances described above will not affect or alter any other provisions of these Terms of Use and/or the remaining parts of the provision that was invalidated or limited by the judicial authority.
  3. All records maintained by the Company, including computer records of user details and actions performed through the Site, including payment information, shall be deemed accurate and shall serve as prima facie evidence of the correctness of all stated therein.
  4. The Company reserves the right to assign, transfer, or convey its rights or obligations under these Terms of Use, in whole or in part, to any third party at its discretion and without any limitations.
  5. The Company reserves the right to assign, transfer, or convey its rights or obligations under these Terms of Use, in whole or in part, to any third party at its discretion and without any limitations.
  6. The user requests that the Company send them notifications regarding updates to the registration documents, as well as any other required messages as deemed necessary by the Company for the proper and continuous operation of the system and loan repayment. This includes supplementary information and details about services and products similar to the service the user has registered for. Notifications and messages may be sent via email, text messages, or app push notifications to the mobile phone number provided by the user. The user will have no claims against the Company for any such notifications, including those under the Communications Law (Telecommunications and Broadcasts), 1982. The personal information provided by the user will also be used for sending advertising materials, though these will be sent responsibly, and the user may opt out of receiving such advertisements at any time by notifying the Company.
  7. Messages:
    a. The Company reserves the right to send messages and notifications to the User via the email address associated with their account as registered with the Company, if provided, as well as through the application as defined in these Terms of Use and via messages within the User’s personal area on the Site. Any change to the User’s email address will take effect only after the User updates their address on the Site. The Company may also establish additional methods for delivering notifications to Users.
    b. Messages from the Company to the user via email will be considered delivered as follows: (a) three business days after they are published on the Site, (b) at the end of the business day on which the emails are sent to the user’s email address, or (c) at the time the user acknowledges or responds to the notification—whichever occurs first, provided that no automatic error message regarding the delivery is received.
    c. Messages sent through the application will be deemed delivered on the day they are dispatched by the system to the user’s mobile device, on which the application is installed.
    d. Messages sent to the user’s personal area on the Site shall be deemed delivered on the day the user accesses the specified personal area. As long as the user has a balance of loans taken or agreed to provide, they are obligated to regularly log into their personal area on the Site and review any notifications and messages sent to them.
  8. A notice or message sent via registered mail will be considered delivered to the recipient within three business days from the date it was handed over to the postal service for delivery.
  9. User notifications and messages to the Company shall be made through the designated channels provided on the Site from time to time and in accordance with these Terms of Use.
  10. Interpretation:
    a. Any terms used in these Terms of Use apply to all genders.
    b. Terms expressed in the singular shall also apply to the plural, and vice versa.
    c. In any instance within these Terms of Use where the Company is granted authority or a right, the Company reserves the discretion to exercise or refrain from exercising such right or authority at its sole discretion. The Company’s failure to exercise any right or authority does not constitute a waiver of that right or authority.
    d. These Terms of Use are an integral part of the Company’s contractual documents and complement them, including the loan agreements entered into by users, whether as borrowers or lenders. In the event of any explicit contradiction between these Terms of Use and any other contractual document, the provisions of the more specific or later document shall prevail, as applicable.
    e. Without detracting from the provisions of these Terms of Use, each service provided by the Company is additionally subject to the terms and procedures that may be determined from time to time in relation to that specific service, as detailed on the Site and within the conditions of the respective service.

Accessibility Toolbar