1. Definitions used in the User Agreement, General Terms and Conditions

Stikcredit	Refers to Stikcredit, a P2P marketplace platform operated and maintained by Stik Credit JSC, a financial institution registered with the Bulgarian National Bank according to order BNB-61932 from 07.07.2016, under number BGR00370 and company number 202557159
Stikcredit Account	Refers to the User’s personal account on Stikcredit’s Platform, which allows entering into Assignment Agreements after Stikcredit has conducted KYC checks of the User and records settlements, transactions, funds available and other relevant data.
Stikcredit Bank Account/-s	Refers to a bank account of Stik Credit JSC, indicated on the Platform and opened solely for the purposes of servicing the Users of the Stikcredit platform and keeping funds received from the Users separate from the other property of Stik Credit JSC. Pursuant to the present Terms and Conditions, the User transfers funds to add them to the User’s Stikcredit Account.
Stikcredit Auto Invest	Refers to a non-mandatory functionality enabling automated sales and purchases of Claims available for the User.
Agreement	Refers to an agreement of a user of Stikcredit’s Platform concluded between the User and Stikcredit.
Assignee	Refers to a User or Stikcredit, who has purchased a Claim under an Assignment Agreement.
Assignment Agreement	Refers to an assignment agreement concluded between the Creditor in his capacity of Assignor and the User in his capacity of Assignee or the Assignee as the Assignor and another party (another User or Stikcredit) as Assignee, and pursuant to which the Creditor (the Assignor) transfers a Claim arising from the Loan Agreement to the User (the Assignee).
Assignor	Refers to a Creditor (Loan Originator or User), who, in line with the Assignment Agreement, assigns the Claim to another User.
Application for registration or Registration Application	Refers to an application prepared by the User on the Platform in compliance with Section 2 of the Terms and Conditions for the registration on the Platform and for the use of the offered services in compliance with the Terms and Conditions.
Borrower	Refers to a natural person with who the Loan Originator has concluded a Loan Agreement where the respective person is a borrower or other type of party which owes or will owe money to the Loan Originator.
Borrower's Payments	Refers to payments made by the Borrower for: loan repayment, Interest repayment, contractual penalty, late payment interest, and/or other ancillary claims arising from the Loan Agreement.
Claim	Refers to a Creditor’s claim or a part of a Creditor’s claim against the Borrower, arising from the Loan Agreement and may include outstanding Loan Amount, with its privileges, securities, and other attributes, including interest, late payment interest, contractual penalty, and other ancillary claims. The detailed amount and composition of the Claim is specified in Section I, Part II of the Agreement
Claim Amount	Refers to Loan or a part of a Loan along with its privileges and securities including interest, late payment interest, contractual penalty, and other ancillary claims, to the extent whereof the Assignor transfers a Claim to the Assignee.
Claim Application	Refers to a User’s application filled on Stikcredit’s Platform for the purchase of a Claim or part of a Claim.
Claim Price	Refers to the price for the Claim transfer agreed upon between the Assignor and User and established in the Assignment Agreement, consisting of the Claim Amount and the discount or mark-up (if any).
Creditor	Refers to the Loan Originator or User, who owns a Claim towards a Borrower.
Loan	Refers to the principal amount of the loan, or a part of it, along with its privileges and securities which in line with the Assignment Agreement shall be repaid by the Borrower to the Loan Originator, and which is subsequently fully or partially transferred to the Assignee after it is received from the Loan Originator.
Loan Originator	Refers to a lending company which is the Creditor, who, in line with the agreement concluded between the Creditor and Stikcredit, has authorized Stikcredit to transfer the Loan Originator’s Claims towards the Borrower, by using the Platform, and on behalf of the Creditor, to take other steps prescribed in the Agreement and in the Assignment Agreement.
Loan Agreement	Refers to a loan, lease, credit agreement or any other financial agreement concluded between the Loan Originator and the Borrower.
Interest	Refers to the remuneration for the use of the Loan, which is calculated according to the terms of the Loan Agreement.
Minimum Claim Amount	Refers to the minimum amount of a single Claim as detailed by Stikcredit and indicated on the Platform, excluding any mark-ups or discounts, for which a User can purchase a single Claim. The amount of the Claim, along with mark-ups and discounts (if any) form the Claim Price. The Minimum Claim Amount is not constant for all Claims and it may differ for different Claims.
Privacy and Cookie Policy	Refers to the Privacy and cookie policy of Stik Credit JSC, available on Stikcredit’s platform.
Management of Claim or Servicing of the Claim	Refers to the actions that the Loan Originator or Stikcredit are allowed to conduct, according to the Assignment Agreement or other agreement concluded with the Assignee, as the fiduciary of the Assignee with respect to the Claim.
Service Fee	Refers to a fee indicated on the Price List paid by the User to Stikcredit for processing Claims.
Summary	Refers to a summary automatically created on the Platform regarding the User’s selected Claims and the indicated sums, for which the User has chosen to purchase Claims.
Terms and Conditions	Refers to the present Stikcredit User Agreement, General Terms and Conditions which are applicable to all of the User’s agreements and transactions conducted via the Platform.
Platform-ID Number	Refers to a personalized number of the User on the Platform, used by Stikcredit to identify the User. The Platform-ID Number is also used when User transfers funds to add them to his Stikcredit Account.
Price List	Refers to the effective price list of Stikcredit’s services.
User	Refers to a natural person registered on the Platform as its user in capacity of an investor as prescribed by this Agreement.
User's Bank Account	Refers to an account opened in the name of the Investor in a credit institution, payment institution or electronic money institution, subject to the European Union laws concerning the prevention of money laundering and terrorism financing.
User's Profile	Refers to the User’s personal site on the Platform, which is automatically created after the Investor registers on the Platform which does not allow entering into Assignment Agreements before Stikcredit has conducted KYC checks of the User.
Work Day or Business Day	Refers to a day, on which banks in Bulgaria are operating, except weekends and public holidays.

2. Platform registration / User profile creation

This section outlines the main requirements for User registration and the results of the User’s profile creation.

2.1. Any User wishing to register on Stikcredit’s platform and use Stikcredit’s services agrees to comply with the current Terms and Conditions during the entire time of use. All Users must be registered and have concluded the Agreement in order to be able to use the services offered on the Platform.

2.2. When filing a registration and confirming the current Terms and Conditions, as well as when utilising the Platform and the services offered by Stikcredit, the User each time declares to Stikcredit that he is compliant with the following criteria:

• 2.2.1. The User is a natural person based in the EU;
• 2.2.2. The User has at least 18 (eighteen) years of age;
• 2.2.3. The User has a bank, payment or e-money account in a bank, payment institution, or licensed e-money company in the EU and is authorized to use the funds in it;
• 2.2.4. The User is not subject to insolvency, bankruptcy, or similar procedures in any jurisdiction;
• 2.2.5. The User is not declared to have limited legal capacity.

2.3. The User declares that at the time of conclusion of the Agreement he has full capacity to capacity to enter contracts and is not under the influence of intoxicating substances.

2.4. The User registers on the platform by submitting a Registration Application, then performing the customer identification and due diligence procedures as detailed below in the current Terms and Conditions.

2.5. Following the User registration and identification and due diligence procedures, an Stikcredit Account of the User is automatically created on Stikcredit’s Platform. Upon registration of the User on the Platform, Stikcredit assigns a unique User’s Platform-ID number.

2.6. For the User to access his profile, Stikcredit authenticates the User by his email address and password or in case the user has enabled it, by email address and password along with two-factor authentication, if applicable.

2.7. Stikcredit may refuse the registration of a User on its Platform without giving a reason for the refusal.

2.8. Every User profile on Stikcredit’s Platform is private and only the profile’s owner has the right and authorization to access and use it.

3. Procedure and principles of user identification, due diligence, and transaction confirmation

This section outlines the main identification and due diligence measures and processes Stikcredit utilises as well as their principles and purposes.

3.1. In relation to its anti-money laundering policy and practices as well additional obligations under the applicable legislation and regulations, Stikcredit will perform identification and due diligence of the User before the User can purchase Claims on the company’s Platform and during the business relationship with the User.

3.2. The identification and due diligence process consists of (but is not limited to):

• Identification of the User
• Obtaining information about his citizenship and/or country of birth
• Country of residence
• Information on the source of funds (if applicable)
• Information on the purpose and nature of the business relationship (if applicable)

3.3. The identification and due diligence of the User are conducted according to Internal rules on KYC customer compliance, money laundering and terrorist financing prevention, according to which the User submits a copy of a government-issued ID document and photo with it.

3.4. The User agrees that Stikcredit can share this information solely for identification and due diligence purposes with providers of KYC and die diligence services.

3.5. In order to perform the identification and due diligence according to company and regulatory standards, Stikcredit may at any stage of the registration or business relationship phase, request from the User additional documents or information on his identity, source of funds, beneficial owners (in case of an entity), and any other information about the User that Stikcredit finds necessary for the identification and due diligence of the User. Stikcredit can unilaterally determine any additional requirements for the User identification, as well as introduce changes in the User identification process.

3.6. The Agreement between Stikcredit and the User enters into force and becomes effective at the time when Stikcredit has performed identification of the User and the User has confirmed the present Terms and Conditions via the Platform. The activation of User’s Profile on the Platform confirms the conclusion of the Agreement.

3.7. The User’s Profile shall be activated from the moment funds have been transferred in the Stikcredit Account of the User. The User may be familiarized with the concluded Agreement and all Assignment Agreements on his Profile at any time.

3.8. In relation to the article above, it would be deemed that after а registration Application is filed in compliance with the current Terms and Conditions and a subsequent transfer of funds, the User confirms he wishes to use the Platform and the services offered by Stikcredit.

3.9. All User activities performed on Stikcredit’ s Platform after the User’s email address and password or the two-factor authentication inputs have been entered, shall be regarded as conducted under the User’s approval. All agreements, payments, instructions, as well as any other documents confirmed, tendered or submitted by the User on the Platform after entering the User’s email address and password or two-factor authentication shall be deemed binding for the following parties – the User, Stikcredit and the Loan Originator, in case the Loan Originator is a party to the agreement.

4. Account Password and Security

This section outlines the password and security standards and measures for Stikcredit’s Platform.

4.1. Stikcredit treats the User’s password as strictly private and confidential information. For security purposes, the User must use a strong and secure password and maintain additional security standards including to update the password frequently, keep it in a secure manner and not disclose it to third parties. For security purposes, Stikcredit may impose additional security rules for the length, storage or additional password requirements.

4.2. In case the User’s password has become known or the User suspects the password could have been leaked, the User must immediately inform Stikcredit. For security purposes, Stikcredit can block access to the respective User’s Profile as soon as possible, until the User is given a new password and the User has given an instruction to Stikcredit to unblock his Profile.

4.3 Stikcredit can temporarily suspend access to the User’s profile in case his password is entered incorrectly multiple times in a row.

4.4. Stikcredit can also temporarily suspend access to the User’s profile if it suspects that the User’s Profile has been accessed without due authorization or the company has suspicions of the execution of illegal transactions. This right is also reserved for other cases that ensure the safety of the company’s services, confidentiality of the User and/or Stikcredit’ s Platform or to prevent losses for Stikcredit and/ or its Users.

4.5. Stikcredit reserves the right not to approve a transaction and/or not to execute any instructions provided by the User or services to the User in case:

• the User does not comply with the current Terms and Conditions;
• Stikcredit has suspicions about the identity of the User and at the same time the company has not been able to contact the User to confirm the rationale of the transaction;

4.6. The User is aware that any third parties, who have obtained the User’s password or two-factor authentication credentials, can access the User’s Profile and assume obligations on behalf of the User. If the User’s Profile is used to carry out activities on the Platform using the correct credentials of the User as detailed above, it shall be considered that the activities with the respective User’s Profile have been performed by the User himself.

5. Funds, Stikcredit Bank Account and User’s Stikcredit account

This section outlines the basics of the User’s account on Stikcredit’s Platform and the terms for management and disbursement of funds.

5.1. Stikcredit accepts the User’s funds and keeps them in a special bank account separate from the other property of Stik Credit JSC. The sums available on Stikcredit’s Platform mirror the sums transferred to Stikcredit’s account.

5.2. The User can add funds to his Stikcredit Account only in his own name by transferring the funds from the User’s bank account to the account of Stikcredit.

5.3. When adding funds to his individual Stikcredit Account, he must indicate the User’s Platform-ID Number as reported in the User’s Profile as the purpose of payment.

5.4. If the User makes a payment without indicating the User’s Platform-ID Number. In case the Platform-ID Number is missing, Stikcredit reserves the right to consider such payment as non-executed before it is identified.

5.5. Any funds transferred by the User for the purpose of adding funds to his Stikcredit account pursuant to the present Terms and Conditions shall be kept separate from the own funds of Stikcredit. The User’s funds are segregated from the Stikcredit’ s own funds and shall not appear on the financial statements of Stikcredit as own funds or as creditors’ claims.

5.6. Stikcredit can only use the funds received from the User added to his Stikcredit Account only pursuant to the provisions of the Assignment Agreement.

5.7. The User understands and acknowledges that, when he transfers the funds to his Stikcredit Account, he shall not be transferring those funds to form a part of Stikcredit own funds, but instead he shall retain title over those funds and Stikcredit shall act only as authorized representative of the User with respect to them.

5.8. Stikcredit can make deductions from the User’s Stikcredit Account in order to ensure that the User’s obligations arising under these Terms and Conditions as well as the Assignment Agreement are duly performed, including the obligations for the payment of Stikcredit’s fees.

5.9. In case at the time of submitting a registration application or during the period of performance of the Agreement, suspicions arise about money laundering, terrorism financing, sanctions evasion, or an attempt at either of these activities, Stikcredit shall be entitled to not register a User, not accept funds from the User and/or block access or close the User’s Profile and/or his Stikcredit Account.

5.10. The User understands and agrees that is illegal to transfer funds obtained through illegal means to his Stikcredit account. In case Stikcredit or its bank detect suspicious transactions, the relevant authorities can be notified, and this could lead to freezing all funds on the account, as well as closing the account.

5.11. If at the time of submitting a registration application or during the period of validity of the Agreement, suspicions arise about money laundering, terrorism financing, sanctions evasion or an attempt at either of these activities to Stikcredit, Stikcredit shall be entitled to not register a User on the Platform, not accept funds from the User and/or block access to or close the User’s Profile and/or his Stikcredit Account.

6. Currency of transfers

6.1. The User shall transfer funds to his Stikcredit Account in EUR currency.

6.2. If the User transfers funds in another currency than EUR, Stikcredit is entitled to exchange the received amount of funds to EUR according to the exchange rate of a credit or payment institution selected by Stikcredit on the day of the exchange. All expenses related to such a currency exchange shall be covered by the User.

7. Inactivity

7.1. In case the User remains inactive on Stikcredit’s platform and has owned no Claims for more than 12 (twelve) consecutive months, Stikcredit reserves the right to close the User’s account.

7.2. If the User’s Stikcredit Account has a positive balance of funds, then starting the 13th (thirteenth) month, Stikcredit is entitled to withhold a service fee from the User’s account as per the rate fixed in Stikcredit’s Price list.

8. Disbursements

8.1. The User can request from Stikcredit to disburse the funds from his Stikcredit Account to the bank account from which the User previously has made transfers to the Stikcredit Account.

8.2. After receiving an application by the User, Stikcredit transfers the funds in the amount mentioned in the User’s application to his bank account.

8.3. Stikcredit will ensure the disbursement of funds requested by the User, provided the funds requested are available in the User’s Stikcredit account, to the User within 2 (two) Business Days after the receipt of the User’s application.

8.4. Stikcredit can withhold funds for bank and other fund transfer commission fees from the funds available on the or from the funds to be transferred to the User.

8.5. If the User wishes that Stikcredit disburses the funds standing on his Stikcredit Account to a different bank, payment institution’s or electronic money institution’s account of the User, from which the User has not previously transferred funds to the Stikcredit Account, before submitting an application on the disbursement of funds, the User shall also provide Stikcredit with all of the information that is necessary and requested by Stikcredit for it to make sure that the indicated new account is opened in the name of the User in a credit institution, payment institution or electronic money institution, which is subject to the laws and regulations concerning the prevention of money laundering and terrorism financing in the European Union.

9. General Terms on Claims Purchasing

9.1. After the User identification and due diligence is successful and in case sufficient funds are available in the User’s Stikcredit Account, the User can purchase Claims offered on the Platform. The Claims are purchased pursuant to the current Terms and Conditions as well as the individual assignment agreement.

9.2. The User has the option to purchase either part of a Claim towards a Borrower offered on the Platform that arises from the Loan Agreement or the Claim in full. The Claims offered on the Platform may be such that they do not comprise all Claims arising from the Loan Agreement and the Loan Originator may retain a part of all Claims arising from the Loan Agreement specified in an agreement by and between Stikcredit and the Loan Originator and expressly indicated on the Platform.

9.3. The User may purchase Claims, the total Claim Price whereof does not exceed the funds available in his Stikcredit Account at the given moment.

9.4. An individual Assignment Agreement shall be concluded between the Assignee (the User), the Assignor (Loan Originator) and Stikcredit who operates the Platform facilitating the transactions. The User shall then authorize Stikcredit and the Loan Originator to manage the Claim together with the claims of other Users against the respective Borrower.

9.5. The User confirms and understands that the Claims are not all of the Creditor’s claims towards the Borrower, and the User shall not become the sole creditor of the Borrower pursuant to the Loan Agreement. In case of non-payment, Stikcredit and the Loan Originator, in compliance with the Terms and Conditions, shall service the Claim together with such claims of other users of the Platform that arise from the Loan Agreement.

9.6. The User is entitled to examine information on his profile about all transactions performed by him on the Platform, about payments executed by Stikcredit to the User, and deductions made by Stikcredit from the User pursuant to the present Terms and Conditions and the provisions of the Assignment Agreements.

9.7. If due to interrupted system operations of Stikcredit’s Platform or other technical or non-technical reason the User’s Stikcredit Account is mistakenly credited or debited, Stikcredit shall have the right to debit or credit the User’s Stikcredit Account accordingly. If the balance in the Stikcredit Account is negative after making the adjustments of mistakenly credited or debited payments, the User must, within 5 (five) Business Days from the receipt of an Stikcredit notification add funds to clear the negative balance.

9.8. Stikcredit offers two ways in which the Users may Purchase or/and sell Claims on its Platform:

9.8.1. manually whereby the User individually selects each particular Claim that it wishes to sell or purchase manually or via the “Invest in all” button;

9.8.2. by using Stikcredit Auto Invest– whereby the User selects the functionality for automatic purchase and/or sale of Claims on the Platform, and Stikcredit in the name and on behalf of the User concludes the Assignment Agreements to purchase or sell the Claims according to the instructions of the User as per the respective parameters selected by the User and the predefined settings of the strategy.

9.9. Stikcredit does not provide any recommendations or advisory to the User with regard to the purchase or sale of the Claims and does not guarantee it being possible to execute the instructions.

10. Manual claim purchases

10.1. In case of manual claim purchases:

10.1.1. the User shall, at his own discretion and responsibility choose to purchase one or more Claims that are offered on the Platform;

10.1.2. the User shall indicate the price, at which the User wishes to buy one or more Claims listed on Stikcredit’s Platform, and shall affirm his choice. The Claim Price consists of the following elements - Claim Amount, which may not be below the Minimum Claim Amount, and a mark-up or a discount (if any).

10.2. The Claim Applications are executed according to procedures of the Claim Application execution applicable at the given moment on the Platform.

10.3. After the User has selected Claim and indicated the amount he wishes to invest in it, the User shall select the “Invest” button or the "Invest in all" button. Following the selection of the “Invest” button, the Assignment Agreement shall be considered to be concluded. In case of using Stikcredit Auto Invest, the Assignment Agreement(s) shall be concluded when activating the auto-invest functionality and shall come into effect when Stikcredit Auto Invest finds a matching Claim.

10.4. Upon the confirmation in indicated Article 3.6. of the Terms and Conditions, provided that there are enough funds on the User’s Stikcredit account, the User’s purchase shall become binding upon the User and Stikcredit shall immediately withdraw the funds indicated on the Summary as Claim Price from the User’s Stikcredit Account.

10.5. After the withdrawal of the funds in the amount of the Claim Price from the User’s Stikcredit Account, Stikcredit transfers them to the Loan Originator’s account.

10.6. By submitting a Claim Application, the User authorizes Stikcredit to perform a transfer of funds stated on the Claim Application from the User’s Stikcredit Account to the relevant Loan Originator, in compliance with the provisions of the Agreement and the Assignment Agreement. With the submission of a Claim Application, the User authorizes Stikcredit to transfer the funds as stated on the Claim Application from his Stikcredit Account to the relevant Loan Originator’s account.

11. Purchasing Claims with Stikcredit Auto Invest

11.1. The Stikcredit Auto Invest functionality represents an option, but not an obligation for the User to enter into purchases and/ or sales of Claims via automated purchases and/ or sales.

11.2. The automated purchase and sale functionalities shall be based on predefined settings.

11.3. The nature of the Stikcredit Auto Invest functionality does not mean that Stikcredit assumes responsibility for the results of the purchase and sale decisions of the functionality. The User understands and accepts that he shall assume full liability for any consequences resulting from confirmation of the functionality and using Stikcredit Auto Invest.

11.4. To activate Stikcredit Auto Invest, the User chooses settings on the Platform at his own discretion, confirms and enables the functionality in accordance with procedures established on the Platform.

12. Conclusion, execution, and performance of the Assignment Agreement

12.1. The Assignment Agreement shall be considered concluded at the time when the User has become the Assignee and has also confirmed the clauses of the Assignment Agreement according to the procedures detailed on Stikcredit’s Platform.

12.2. Simultaneously with the consent indicated in Article 10.3 of the Terms and Conditions, the User shall confirm the clauses of the Assignment Agreement of the Claim he wishes to acquire according to the procedures detailed on Stikcredit’s Platform.

12.3. After the Assignment Agreement is concluded and throughout its period of performance, the same agreement shall be available on the User’s Profile on Stikcredit’s Platform and Stikcredit shall make sure the User can examine the repayment schedule and applied interest of the acquired Claim. However, the Loan Agreement and the documents related to the Loan Agreement shall not be handed over to the User and shall be kept with Stikcredit or the Loan Originator.

12.4. The Borrower shall make the payments he is due under his Loan Agreement. The Loan Originator then transfers the payments received including the accrued interest.

12.5. Stikcredit then distributes the received payments among all of the Users (Assignees) which have acquired the specific Claim in proportion to the amount of the exposure made in the Claim by the Assignee.

12.6. Upon the division of the received funds, Stikcredit shall transfer the respective amounts to the User’s Stikcredit account.

12.7. Stikcredit shall withhold payments due according to its price list (if any) as well as withhold taxes (if applicable) from the User’s Account.

12.8. The User is aware and understands the risk of default on the Borrower’s obligations, as a result of which the Borrower may delay the repayment of the Loan and the payments associated with it.

12.9. The User is aware and understands that by assignment of the Claim security interest incorporated in the Collateral (if any) is not re-registered in favour of the Assignee and remains registered in favour of the Loan Originator.

12.10. The Loan Originator shall conduct all the necessary and allowed actions to facilitate the timely recovery of the Claim without the involvement of the Assignee (User).

12.11. Stikcredit shall perform the actions it finds necessary and feasible to facilitate the timely and full recovery of payments from the Loan Originator or other party servicing the Claim without engaging the Assignee (User) with respect to a particular Claim.

12.12. In event of the Borrower’s default, Stikcredit and the Loan Originator shall not assume the responsibility for the security of the Claim, and the Loan Originator does not have an obligation to repay the User its paid Claim Price or a part thereof.

12.13. The User understands that the detailed procedure for paying the Claim Price, the provisions outlining the recovery of Claims and other relevant conditions of assignment detailing the Assignment Agreement.

13. Mains rights and obligations of the User of the Platform

13.1. The User agrees to:

13.1.1. timely submit information and documents for Stikcredit to perform the identification and due diligence of the User according to the company’s policies and procedures;

13.1.2. provide only true and accurate information upon registration on the Platform and during the sources of the business relationship;

13.1.3. utilise solely secure means of electronic communications and data transfer;

13.1.4. not use Stikcredit’s Platform for illicit conduct, including but not limited to fraud and money laundering, fraud, and sanctions evasion;

13.1.5. not use any automated means to access Stikcredit’s Platform or collect any information from the Platform (including, without limitation, robots, spiders, scripts, or other automatic devices or programs);

13.1.6. not reproduce, modify, adapt in any automated or non-automated “screen scraping”, “database scraping” or any other activity with the purpose of obtaining content;

13.1.7. promptly, however no later than within 3 (three) Business Days, to inform Stikcredit in writing in case the User’s name, surname, e-mail address, User's Bank Account or other information on the Platform about the User changes;

13.1.8. observe moral standards in his communication with Stikcredit and its representatives;

13.1.9. not to buy or sell the Claims with respect to which the User holds insider information.

13.2. By confirming the present Terms and Conditions, the User understands that Stikcredit and the Loan Originator(s) have an obligation to ensure the privacy and confidentiality of the Borrower’s personal details/ personal data thus Stikcredit and the Loan Originator shall disclose only limited information about the Borrower(s) on its Platform.

13.3. The User understands and confirms that during the performance and validity of the Assignment Agreement, he shall not contact the Borrower by any means in respect to the concluded Assignment Agreement or transferred Claim.

13.4. The User understands and confirms that during the performance and validity of the Assignment Agreement he shall not make any Claims against the Borrower including not initiate any court or arbitration claims against the Borrower.

13.5. The User shall ensure that there are sufficient funds on his Stikcredit Account for performing payments due for the purchase of the Claims on Stikcredit’s Platform and also for withdrawal of funds.

13.6. In case the funds of the User on his Stikcredit Account are insufficient, Stikcredit will not execute the payment and/or the transaction. Stikcredit shall not be held liable for any damages or losses in this regard.

14. Stikcredit rights and obligations

14.1. Stikcredit will in accordance with the instructions and authorisations provided by the User conclude Assignment Agreements and along with the Loan Originator, Stikcredit will manage the User’s Claims.

14.2. In line with the provisions of the Assignment Agreement the User shall authorize Stikcredit and the Loan Originator shall assume the tasks under the Claim in the interests of the User. Stikcredit and the Loan Originator shall act as a proxy holder of the User to manage the Claim until it is repaid.

14.3. Stikcredit and the Loan Originator shall be authorized by the User to manage the Claim in the User’s interest, but in the managing process Stikcredit and the Loan Originator shall use their own company names.

14.4. Both Stikcredit and the Loan Originator will manage the Claims purchased by the User separate from their own property. Both parties shall only manage the Claim to the extent as established in the present Agreement.

14.4. Stikcredit is entitled to from time to time carry out promotional campaigns and offer loyalty programs or other benefits to all or selected Users.

14.5. Stikcredit reserves the right tо offer different content and services on the Platform to the Users depending on their country of residence.

15. Payment for the services of the Platform

15.1. For the services provided by Stikcredit, the User shall pay a Service Fee as detailed in the Price List, or an individually generated or established Service Fee between the User and Stikcredit, as well as any other payments detailed in the Price List, if applicable.

15.2. In relation to the Service Fee, Stikcredit has the right to withdraw the monetary equivalent of the Service Fee and other amounts due by the User to Stikcredit without additionally coordinating it with the User.

15.3. If the Claim is resold on the secondary market, Stikcredit reserves the right to withdraw the commission fee established as per its Price List for the resale of the Claim immediately after the conclusion of the Assignment Agreement.

15.4. The User understands that his bank, payment institution, e-money institution or other financial services provider may deduct a fee for depositing funds from the User’s Bank Account into his Stikcredit Account in compliance with the price list of services of the relevant User’s bank, payment institution or e-money institution.

15.5. The User understands that Stikcredit may face multiple costs, including debt collection costs, legal fees as well as other similar costs, if the Loan Originator or another party referred to in the Assignment Agreement does not transfer the payments to Stikcredit once they are due, when taking action as an authorized representative of the Assignees.

15.6. The User acknowledges that in case the Loan Originator or another party mentioned in the Assignment Agreement does not make payments to Stikcredit when they are due, Stikcredit may incur various expenses, including debt collection, external legal fees or other similar expenses, when acting as an authorized representative of the Assignees in case such actions are directed towards recovery of funds for the Assignees, restructuring of the obligations towards the Assignees, or taking other actions which are directed towards achieving payments being made to the Assignees with regards to their Claims.

15.7. The Users understand and acknowledge that Stikcredit is entitled to receive a compensation of such reasonable expenses incurred when acting as an authorized representative of the Assignees and agree to therefore compensate Stikcredit for such costs.

15.8. Stikcredit shall in each case inform the Users about the expected sum of expenses which should be compensated by the Users prior to their compensation. Stikcredit shall charge compensation of expenses from the Assignees only up to the recovered amount collected or received by Stikcredit. Stikcredit shall not ask for compensation of expenses for its in-house personnel.

15.9. The User is aware of and understands that pursuant to the taxation laws and other applicable legislation, Stikcredit may deduct all taxes, dues, and other mandatory payments, which have to be withheld by Stikcredit pursuant to the applicable legislation and regulations of the Republic of Bulgaria from the funds to be disbursed to the User. The User shall be fully responsible for paying all taxes arising from the User’s Claim pursuant to the laws of the Republic of Bulgaria and/or any other applicable laws.

16. Secondary market and resales of Claims

16.1. Stikcredit shall provide the User an option to sell his Claim(s) to the Loan Originator or a third party authorised on the Stikcredit Platfom.

16.2. The User understands and acknowledges that he can not sell his Claim(s) without using Stikcredit’s Platform.

16.3. In case the User wishes to sell an individual Claim or part of it, he shall mark the Claim on the Stikcredit Platform, which he wishes to sell. The User can sell his Claim for the sell back price which consists of the remaining principal and unearned interest as indicated on Stikcredit’s Platform.

16.4. Any fees due for Claim resales are specified in Stikcredit’s Price List.

16.5. Once the User fills in the parameters of the Claim resale, he has the option to confirm them according to the procedure established on the Platform.

16.6. The Claim resale offer shall be considered binding for the User by any third party wishing to purchase the Claim, authorized on the Platform at the time when the User has confirmed the parameters of the Claim resale as detailed above.

16.7. The Assignment Agreement shall be deemed concluded at the time, when the User (the Assignee) has accepted an offer on Stikcredit’s Platform.

16.8. Once the Claim resale is completed, Stikcredit shall transfer the price of the resold Claim to the seller’s account. Any fees applicable for the Claim resale shall be deducted from the seller’s account.

16.9. Stikcredit can unilaterally suspend resale of Claims functionality in the following cases:

16.9.1. Stikcredit has information, or suspicion or has determined that any of the events of default under any contract concluded between Stikcredit and the Loan Originator is likely to occur or has occurred;

16.9.2. any material circumstances have occurred which in the opinion of Stikcredit may cause substantial losses to Stikcredit and/or the User.

16.9.3. Under this Article, Stikcredit shall not be liable to the User and third parties for any damages, losses or expenses.

17. Liability

17.1. The User understands and agrees that:

• He is entitled to use the agreement forms offered on Stikcredit’s Platform at his own discretion and at his own risk.
• Stikcredit is not obligated to make any payments to the User with respect to the Claim, before Stikcredit has received such payments from the Loan Originator.
• Stikcredit and/or the Loan Originator does not have to repay or compensate to the User for the paid Claim Price or any part thereof.

17.2. The User will be liable for all losses incurred as a result of unauthorized conduct, if the User has intentionally, illicitly or due to gross negligence failed to fulfill the requirements prescribed in Section – Account Password and Security of the present Terms and Conditions.

17.3. The User shall assume liability for all losses, assumed commitments, or other activities carried out on his profile until Stikcredit has been warned about situations stipulated in the Account Password and Security section of the present Terms and Conditions and when Stikcredit has had sufficient time to block access to the User’s Profile.

17.4. The User is liable for all losses, carried out on the User’s Profile until Stikcredit has been warned about situations stipulated in Section IV. Account Password and Security of the Terms and Conditions and when Stikcredit has had sufficient time to block access to the User’s Profile.

17.5. In case the User suffers losses as a result of illicit activities of Stikcredit, the company shall reimburse all direct losses inflicted upon the User. The extent of damages is restricted to the amount of losses present in the Stikcredit Account of the User at the time when the losses were incurred.

17.6. The User understands and acknowledges that Stikcredit is not responsible for the accuracy and completeness of the information provided by the Borrower and/or the Loan Originator.

17.7. Stikcredit shall not be liable for any losses which the User has suffered or might suffer as a result of using the Platform or Claim purchases, including if:

17.7.1. The User has sold his Claim(s) with a discount or a mark-up;

17.7.2. The User has failed to observe the Agreement provisions;

17.7.3. As a result of illicit conduct of third parties until the moment when the User’s Profile is blocked pursuant to procedures established in the Account Password and Security section of the current Terms and Conditions;

17.7.4. Due to interrupted communications and other technical interruptions;

17.7.5. The User’s Profile has been blocked in accordance with current Terms and Conditions or the Agreement,

17.7.6. The Borrower infringes the Loan Agreement or the Borrower’s illicit conduct;

17.7.7. Losses due to laws that apply to the Users as a result of transactions concluded on Stikcredit’s Platform

17.7.8. due to the performance or delayed performance of the User’s commitments arising from the Assignment Agreement;

17.7.9. due to the Loan Originator infringing the Assignment Agreement and/or any other agreement.

17.8. In case the User denies consent for the performance of a transaction, the use of the User’s profile details and password shall be deemed sufficient evidence that the User has given consent for the transaction or that he has acted fraudulently, or has intentionally or negligently failed to fulfill his obligations prescribed in Section IV. Account Password and Security of the present Terms and Conditions.

17.9. If the User denies having authorized (given consent) the performance of a transaction, the use of the User’s Profile and password shall be deemed sufficient evidence that the User has given consent to the transaction or has intentionally or negligently failed to fulfill the duties prescribed in the Account Password and Security section of the present Terms and Conditions.

17.10. The Parties shall not be held liable for failure to fulfill their respective obligations if the nonperformance has occurred due to reasons that are independent and outside of the Parties’ control and have resulted from force majeure circumstances.

17.11. A Party may make a reference to force majeure circumstances only in case if it has taken all steps that depend on it in order to perform its obligations prescribed in the Terms and Conditions.

17.12. Once the force majeure circumstances have been prevented, the Party must resume the performance of its obligations under the Agreement. The Parties shall consider such circumstances as force majeure circumstances, which the Parties could not have predicted, including:

17.12.1. Extraordinary and unavoidable circumstances of acts of God, including but not limited to natural disasters, fire, flood, an earthquake, warfare, terror acts, riots and strikes;

17.12.2. The delay to fulfil obligations (moratorium) established by a statutory act binding for Stikcredit and/or the Loan Originator;

17.12.3. Technical failures, delays, malfunctions, failure of computers and/or communications systems, and/or hardware, and/or software; power supply malfunctions or other critical infrastructure malfunctions at Stikcredit, which Stikcredit could not have predicted or affected;

17.12.4. Decisions and/or activities of local and/or foreign public authorities, and/or international organizations;

17.12.5. Entry into force and/or amendments, and/or suspension of a statutory act binding for Stikcredit and/or the Loan Originator affecting the fulfilment of obligations under the present Terms and Conditions;

17.12.6. Other circumstances, which the Parties could not have prevented or predicted.

17.13. As the Parties use means of communication during the performance of the Agreement, Stikcredit shall not be held responsible for any loss incurred due to interrupted service of mail, electronic or other means of communication, as well as technologies ensuring the respective Stikcredit services, including, but not limited to, interrupted service of means of communication, interruptions in the functioning of the Platform, electronic data exchange and payment system of credit institutions, payment institutions or electronic money institutions (incl., online banking).

17.14. Stikcredit reserves the right to take all actions it considers necessary against all parties howsoever involved in the unauthorized use of its Platform and without notice, in order to vindicate its rights and prevent such unauthorized use, including using blocking technology (which may itself involve conducting automated searches of such parties’ websites, screen scraping therefrom, causing such parties’ websites, or any similar or associated actions) and/ or issuing legal proceedings.

18. Personal data

18.1. The User acknowledges and understands that the purpose for processing his personal data is identifying the User, concluding and performing the Agreement, offering and maintaining services, keeping records, financial and statistical analysis, exercise and protection of the rights of Stikcredit and/or User arising from the Agreement in accordance with the Privacy Policy.

18.2. Stikcredit can process the personal data received from the User, as well as to hand over to and receive the User’s personal data and other information from third parties, databases, registries (such as the Population Register, State Social Insurance Agency, etc.) and to process it in accordance with the Privacy Policy.

18.3. In case the User does not provide that data needed for the conclusion and performance of the Assignment Agreement or additional obligations under the applicable legislation, Stikcredit will not be able to conclude and perform the Agreement and enter into a business relationship with the User.

18.4. Stikcredit can disclose the User’s personal data to:

18.4.1. Any person or entity related to the performance of the Agreement between Stikcredit and the User (including banks, licensed payment or e-money institutions, communications service providers, credit institutions, IT service providers and additional necessary providers);

18.4.2. to outsourced service providers that Stikcredit has contracted for the provision of services arising from the Agreement;

18.4.3. upon handing over (transferring) a Claim;

18.4.4. to a third party, taking debt collection steps to recover debt from the User or from a Loan Originator;

18.4.5. to Stikcredit’s legal advisory, accounting, or auditing service providers, ensuring that the said persons have agreed to threat this information and strictly private and confidential.

18.5. The User understands and agrees that Stikcredit can use his email address and phone number to send commercial communications about the products or promotions of Stikcredit or companies affiliated to Stikcredit.

18.6. The User understands and agrees that Stikcredit Stikcredit can call and send text messages to the mobile telephone number, to send emails, as well as to dispatch mail to the User’s mailing address to reach the User.

18.7. Stikcredit can record all and any voice communication with the User as per its Privacy Policy.

18.8. Upon conclusion of this Agreement, the User confirms that he has read and understood the Privacy Policy.

19. Termination

19.1. Stikcredit terminate the Agreement and delete the User’s Profile without prior notice or restrict the User’s right to use the Platform in case:

19.1.1. The User breaches the current Terms and Conditions

19.1.2. The User breached the Assignment Agreement

19.1.3. The User illicitly uses the Platform

19.1.4. Stikcredit finds the User has provided false or misleading information or counterfeit documents;

19.1.5. The User has not provided Stikcredit with information required as per their customer identification, due diligence and KYC policies

19.1.6. The User has not provided Stikcredit with information required by law or by regulators

19.1.7. Stikcredit suspects involvement in money laundering, terrorism financing, or an attempt to do so, with the involvement of the User or the User’s Profile, or if the User is a person who is subject to international or national sanctions or is an affiliate of such person

19.2. Apart from the previous Article, Stikcredit is entitled to unilaterally terminate the Agreement at any time during the business relationship with the User by sending a notice to the User’s email at least 10 (ten) Business Days in advance.

19.3. In case Stikcredit enforces its right under this article, the User is forbidden to purchase claims or conclude new transactions on Stikcredit’s Platform. However, Stikcredit shall continue to manage all of the User’s Claims purchased before the unilateral termination notice is sent by Stikcredit.

19.4. In case the User wishes to delete his profile and thus terminate his business and legal relationship with Stikcredit, the User shall send a termination notice from the email he is registered with on Stikcredit’s Platform to Stikcredit. After receiving this information, Stikcredit can block the access to the User’s Profile

19.5. Upon receiving this notification, Stikcredit blocks the User’s access to the User’s Profile. The User Profile shall be deleted after the time period specified in the Privacy Policy. Stikcredit may retain records about the User and his transaction history for the period that it is required to do so by the relevant legislation.

19.6. In case the business and legal relationship between Stikcredit and the User is terminated, Stikcredit shall transfer all sums of the User equivalent to the amount of electronic money available on the User’s Stikcredit account to the User’s specified bank account no later than 10 (ten) business days after the termination of the business relationship. Stikcredit shall not be held liable for inability to meet the 10 (ten) business day time limit for transfers due to reasons not dependent upon Stikcredit.

19.7. In the event of Stikcredit insolvency, Stikcredit shall be taking all the necessary steps so that a third party takes over the administration and management of all Claims originating on the Platform, about which Stikcredit informs all Users.

20. Miscellaneous

20.1. The transactions on Stikcredit’s Platform are executed in the currencies indicated on it. Stikcredit can change the currencies indicated without any prior notice.

20.2. In case the representation of the numbers in words in the text of this Agreement differs from the representation in numbers, the representation of the numbers in words shall prevail.

20.3. The notifications between the Parties must be put in writing and sent to the other Party within the Platform, by email, on the email address indicated on the User’s Profile in Stikcredit. Every notification sent to the User’s email address shall be deemed received within 24 hours after the dispatch.

20.4. In order to develop and improve the services offered on the Platform and to comply with applicable law, Stikcredit can introduce unilateral amendments to the present Terms and Conditions, by posting the changed Terms and Conditions on the Platform and indicating the number and date of the amendments.

20.5. Changes in the Terms and Conditions are communicated to the User at least 5 (five) business days in advance. Amendments shall enter into force within 5 (five) days as of the disclosure of the notification on the Platform or when the User accepts the Terms and Conditions on the Platform – the earlier of those two events.

20.6. The only case where Stikcredit may unilaterally amend the present Terms and Conditions without informing the User only if the amendments are in favour of the User.

20.7. Stikcredit is entitled to amend its Price List at any point in the business relationship with the User, including to determine new commission fees and at its discretion to grant discounts from fees. Information about changes in the Price List is available on Stikcredit’s Platform. Information about changes in the Price List is notified to the User at least 5 (five) days in advance.

20.8. The domestic legislation of the Republic of Bulgaria shall govern the legal relations arising from the present Agreement.

20.9. Any disputes between the parties in relation to the current Terms and Conditions and the use of the Platform shall be resolved at the Sofia District Court or another competent court pursuant to the effective laws of the Republic of Bulgaria.

20.10. The User understands and agrees that the Assignment Agreements may be governed by laws different than the laws of the Republic of Bulgaria and that the Assignment Agreements may set forth different dispute resolution clauses than, including an arbitration agreement. In relation to this, the Assignee hereby irrevocably authorizes Stikcredit to conclude arbitration agreements with the Assignor on behalf of the Assignee and if the form of the Assignment Agreement that the User wishes to conclude contains an arbitration clause or agreement.

20.11. The present Terms and Conditions are binding until the moment, when the User’s Profile is deleted and all commitments of the Borrower originating from Loan Agreements, the Claims arising wherefrom have been purchased by the User, have been fully met.

20.12. If the Agreement is concluded remotely, the Agreement shall be stored in Stikcredit’s database. The concluded Agreement shall be stored in compliance with the Privacy Policy.

20.13. This Agreement is drafted in English.

20.14. Stikcredit can transfer, by novation, assignment or any other legal form its deems appropriate, in full or in part its rights or obligations arising out of this Agreement to another company controlled by the same shareholders as is Stikcredit itself at the moment of such transfer, without having to obtain prior the User’s consent. Nevertheless, Stikcredit shall inform the User about such a transfer.

20.15. This version of the Agreement shall enter into effect as of 2021-02-12.