Соціальна Інтернетова банківська система(л)
06/27/2007 | Sych
http://www.zopa.com/ZopaWeb/
Ідея системи у тому, що люди замість використання класичних банків, почичають/дають позики одне одному через Інтернет... Зопа банкам?
The Zopa Principles
1. Introduction
1.1 The Zopa Lending Platform is an internet marketplace for putting Lenders and Borrowers in touch with each other. These Principles regulate the relationship between Zopa and Zopa Members. The relationship between Lenders and Borrowers is also regulated by these Principles except in relation to lending, which is regulated by a Loan Contract. Zopa Limited is not a party to any Loan Contracts between Lenders and Borrowers. Our function is to operate the Lending Platform.
1.2 In these Principles "we", "us" and "our" mean Zopa Limited and "you" and "your" mean the Zopa Member (acting as a Borrower and/or a Lender as the context requires). Other words to which we have given a particular meaning begin with a capital letter. These words and meanings are set out at the end of this document.
2. Eligibility and registration
2.1 To register with us you must meet our Eligibility Criteria. This means that, unless you are the holder of a current, valid Consumer Credit Licence issued by the Office of Fair Trading in the UK ("a CC Licensee"):
1. you must be an individual, at least 18 years old, living in the United Kingdom; and
2. you must have a current account in your own name with a bank in the United Kingdom.
2.2 Unless you are a CC Licensee, to be eligible as an Lender, you must also:
1. only ever lend your own money and never have total loans of more than £25,000 outstanding to other people at any one time; and
2. not be a credit broker or lend money to other persons in the course of any business.
provided that the trustee of a Self Invested Personal Pension ("SIPP") or Small Self Administered Scheme ("SSAS") (in either case "the SIPP Trustee") may authorise you as the person to whom it has provided the SIPP or SSAS to operate the Zopa account through which the SIPP or SSAS funds are lent, subject to the provisions of paragraph 4.10 below.
2.3 If you meet our Eligibility Criteria, you can register with us as a Zopa Member. As part of this process:
1. we will:
1. make identity, fraud and credit checks;
2. (ii) obtain a Credit Rating for you from the credit reference agency we use;
2. you will specify a Zopa username and Passcodes.
2.4 When these steps have been completed, we will register you as a Zopa Member, give you Passcodes and set up My Zopa for you.
2.5 If we are unable to complete any steps in Principle 2.3, we will not register you as a Zopa Member.
3. My Zopa
3.1 To lend or borrow through the Lending Platform you must log on to My Zopa.
3.2 When you enter My Zopa we will check your identity by asking for your Zopa username and your Passcodes. As long as the correct username and Passcodes are entered, we will assume that you are the person giving instructions and making transactions and you will be liable for them, except to the extent provided for in Principle 3.6. You must therefore keep your Passcodes secret (as well as the PIN or other codes that protect access to your Nominated Account) and make sure that they are not stored on your workstation in a way that enables others to impersonate you.
3.3 We can refuse to act on any instruction that we believe: (i) was unclear; (ii) was not given by you; or (iii) might cause us to breach a legal or other duty; or if we think Zopa is being used for an illegal purpose.
3.4 You must never tell anyone else your Passcodes (nor the PIN or other codes that protect access to your Nominated Account) or write them down without disguising them.
3.5 You must tell us as soon as possible if you think that someone else knows your Passcodes (or the PIN or other codes that protect access to your Nominated Account) or can use Zopa by impersonating you. Until you tell us:
1. you will be responsible for any instruction which we receive and act on, even if it was not given by you; and
2. we will not be responsible for any unauthorised access to confidential information about you on My Zopa.
3.6 We will do all that we reasonably can to prevent unauthorised access to My Zopa. As long as you have not broken the other terms contained in this Principle 3, we will accept liability for any loss or damage to you resulting directly from any unauthorised access to My Zopa (see Principle 16 for limits on our liability).
3.7 My Zopa will show:
1. the amount credited to your Zopa Wallet in the Zopa Members' Account; and
2. the amount you:
1. have lent (if any); and/or
2. have offered to borrow; or have borrowed (if any);
through the Lending Platform;
3. your Credit Rating and other personal details; and
4. information about the Lending Platform.
4. Lending
4.1 If you decide to lend using the Lending Platform, then in order to ensure that your loan funds are readily available for disbursement to Borrowers, you must first pay the total amount you wish to lend into the Zopa Members' Lending Account by bank transfer or direct debit from your Nominated Account, or via PayPal, or by debit card linked to your Nominated Account. Please always, quote your unique username as a reference. As part of the Lender registration process you must give us details of your Nominated Account. All payments you make with your username included will be recorded on My Zopa as a credit to your Zopa Wallet.
4.2 When using PayPal, please note:
1. You can only use the existing PayPal balance for a transfer from your UK bank account to your PayPal account to fund a PayPal payment to the Zopa Members' Lending Account. You cannot use your credit or debit card to fund PayPal payments to the Zopa Members' Lending Account;
2. PayPal charges Zopa a fee equivalent to 1% of the amount that each Lender pays to Zopa's PayPal account for transfer to the Zopa Members' Lending Account, plus £0.20 for each such payment. Because of the way the PayPal system works, you agree that PayPal can deduct these charges before your PayPal payment reaches Zopa's PayPal account, provided that we then contribute an amount equivalent to PayPal's fees ("the Zopa PayPal Bonus"), so that the amount available to you in the Zopa Members' Lending Account equals the amount that you paid to Zopa's PayPal account.
4.3 When you use a debit card to transfer money to the Zopa Members' Lending Account, you agree that that debit card transaction is complete as soon as the amount you transferred has been credited to your Zopa Wallet.
4.4 Unless you are a CC Licensee (in which case Principle 4.5 applies), to diversify your risk:
1. each time you offer to lend more than £500 to others at Zopa:
1. you are agreeing to lend that money to at least 50 different borrowers in amounts of £10 (each being the subject of a separate Loan Contract);
2. unless you specify a higher amount, the maximum amount that you will lend to each Borrower from that offer is £200;
3. if you make multiple offers in the same market at any one time, you could lend more than £200 to the same Borrower, although each set of offers is still successfully diversified across 50 different borrowers. If you do not want to lend more than £200 to any one borrower, please ensure that you do not have more than one offer in each market at any one time.
2. Each time you offer to lend less than £500 to others at Zopa:
1. you are agreeing to lend that money in amounts of £10, each such amount being the subject of a separate Loan Contract;
2. unless you specify a higher amount, the maximum amount that you will lend to each Borrower is £10;
3. you will not be lending to 50 different borrowers.
3. Amounts that are repaid to you by Borrowers, and which are re-offered using the automated "lend more" function, are added to your most recent offer in the market, and are therefore subject to the diversification rule that already applies to that offer.
4.5 If you are a CC Licensee, to minimise the number of credit agreements you must sign, each agreement will be for £500 (unless you ask us for a lesser figure). So, to diversify your risk when lending in £500 increments, you should offer to lend to others at Zopa at least £25,000 and:
1. each time you offer to lend money to others at Zopa:
1. you are agreeing to lend that money in amounts of £500 (each being the subject of a separate Loan Contract);
2. unless you specify a higher amount, the maximum amount that you will lend to each Borrower from that offer is £500;
3. if you make multiple offers in the same market at any one time, you could lend more than £500 to the same Borrower, although each set of offers is still successfully diversified across 50 different borrowers. If you do not want to lend more than £500 to any one borrower, please ensure that you do not have more than one offer in each market at any one time.
2. Amounts that are repaid to you by Borrowers, and which are re-offered using the automated "lend more" function, are added to your most recent offer in the market, and are therefore subject to the diversification rule that already applies to that offer.
4.6 Once you have made a payment into the Zopa Members' Lending Account you must then log onto My Zopa and follow the instructions for setting your Lending Criteria and posting your Loan Offer for lending to Borrowers who match those Lending Criteria. Your Loan Offer will remain open until either you withdraw it, or it is matched by the Lending Platform with Confirmed Bids made by Borrowers.
4.7 By posting a Loan Offer and (if you are a CC Licensee, electronically signing a corresponding credit agreement), you are offering to enter into a Loan Contract with a Borrower who meets your Lending Criteria. Each Loan Offer is open to be accepted by a Borrower unless and until it is withdrawn by you. You will not be asked to confirm your Loan Offer once it has been matched with a Borrower's Confirmed Bid. The Loan Contract will be formed automatically at that point (or, if you are a CC Licensee, when the Borrower electronically counter-signs the credit agreement corresponding to your Loan Offer).
4.8 Once your Loan Offer is matched with a Confirmed Bid, the £10 you have lent will be deducted from your Zopa Wallet and be credited to the relevant Borrower's Zopa Wallet or Zopa (in respect of the charges payable to Zopa by the Borrower) or Cardif Pinnacle (in respect of any Zopa Repayment Protection premium).
4.9 The Borrower will set up a direct debit to pay to the Zopa Members' Repayment Account the amount that is repayable to you and these amounts will be credited to your Zopa Wallet. You can log on to My Zopa and either re-offer these amounts, or request the payment of these amounts to your Nominated Account.
4.10 The legal title to any money that you contribute to a SIPP or SSAS is held in a trust by the SIPP Trustee, so the SIPP Trustee will need to register with us. To start the process by which your SIPP or SSAS can lend money to other people via Zopa, you must follow the instructions at www.zopa.com, including nominating the amount of money, rate(s) and term(s) on which that money is to be lent. Completing that process will result in your the appropriate application and approval form being sent by us to the SIPP Trustee. The SIPP Trustee may be a CC Licensee. If so, the SIPP Trustee authorises you to electronically pre-sign the credit agreements that CC Licensees must sign when lending at Zopa to comply with the provisions of the Consumer Credit Act 1974. None of the SSIP or SSAS lending offers will be placed in the market unless and until the SSIP Trustee has granted any approvals it may need to, and has transferred the necessary funds from your SSIP or SSAS to the Zopa Members Lending Account. While you will have access to the MyZopa account that relates to the loans made by your SSIP or SSAS, only your SSIP Trustee can transfer the SSIP or SSAS funds to, or receive such funds from, the Zopa Members Lending Account.
5. Borrowing
5.1 If you want to borrow through the Lending Platform, you will have the opportunity to post Indicative Bids specifying your Borrowing Criteria. If you wish to take out Zopa Repayment Protection, the amount of the Zopa Repayment Protection premium (rounded up to the nearest £10) will be added to the total of your Indicative Bids. Your projected repayments will then reflect the total amount to be borrowed, including the amount to pay any Zopa Repayment Protection premium.
5.2 You must then enter the details of your Nominated Account and set up a direct debit from that account to the Zopa Members' Repayment Account, which is to be used to make the repayments due from you to the Lender under each Loan Contract you enter into.
5.3 The Lending Platform will then notify you whether your Indicative Bid is likely to be successful. If you wish to proceed at this stage, you may then post a Confirmed Bid, which must be in the same terms as your Indicative Bid, (and, if any of your Lenders is a CC Licensee) electronically counter-sign the corresponding credit agreements), at which time the Loan Contracts will be formed.
5.4 Your Confirmed Bid will either be matched with a Lending Offer by the Lending Platform, or not, in which case it will lapse.
5.5 By posting a Confirmed Bid, you are agreeing to accept a Loan Offer that meets your Borrowing Criteria.
5.6 Once each of your Confirmed Bids has been matched with Loan Offers, we will provisionally credit your Zopa Wallet with the total amount you have borrowed, less our fee and the amount of any Zopa Repayment Protection premium, but actual payment of this amount is subject to:
1. you providing us with certain additional information which we will ask you for - provided that this additional information and the information you gave us before making the Confirmed Bid was not inaccurate or deficient in any respect (if we discover that it was, then the Loan Contract will be void and we will report this information to credit reference and fraud agencies);
2. us checking your credit reference and the information you provide us to assess the affordability of your repayments; and
3. us sending you a Personal Identification Number (PIN) verification letter, and you emailing back to us the PIN (failing which the Loan Contract will be void and we will report this information to credit reference and fraud agencies.
5.7 If you want to exercise a right to repay early under the Loan Conditions (which you may do so free of any charge, except interest payable to the date of repayment), please email us at contactus@zopa.com.
6. After Loan Contracts Have Been Formed
6.1 The Lending Platform operates by instant matching of Loan Offers with Confirmed Bids, which produces each Loan Contract (any of which may be a credit agreement signed by each Lender and Borrower if the relevant Lender is a CC Licensee). This means you will not be given the opportunity to review the Loan Contract or the Loan Conditions after you have made a Loan Offer or a Confirmed Bid, as the case may be. By accepting these Principles you are accepting that:
1. the Loan Conditions will be incorporated into every Loan Contract;
2. the Lending Platform processes Borrowers' direct debit payments in relation to the repayment of amounts under each Loan Contract;
3. each Lender sub-contracts to the Collections Agency the collection of any missed payments due from Borrowers in accordance with the collections procedure published on the Lending Platform from time to time.
6.2 Each time Loan Offers and Confirmed Bids are matched details of the amount lent or borrowed will be recorded in My Zopa, including the number of Loan Contracts that make up your total lending or borrowing. The name of each Lender or Borrower will appear in the Loan Contract. The identity of each Zopa Member will not be disclosed to any other Zopa Member, except where it is necessary to do so as part of court or other enforcement proceedings for the recovery under any Loan Contract.
6.3 If you miss a loan repayment, or find yourself in financial difficulties and you believe you cannot afford to repay the amount due under any of your Loan Contracts, you should contact us as soon as possible by email to contactus@zopa.com. We will do the following:
1. explain the procedures we will apply and your options;
2. tell you if your account is being passed to the Collections Agency.
6.4 You should tell Zopa or the Collections Agency, as the case may be, when your circumstances change in a way that may adversely impact your ability to repay the amount due under any of your Loan Contracts.
6.5 If your relationship with Zopa or the Collections Agency has broken down, this will be included in the information supplied to the credit reference agencies. You should be aware that this may have serious consequences for your ability to get credit in the future.
6.6 If a Borrower fails for a period of 120 consecutive days to pay the full amount of each repayment then due and payable in relation to the Loan Contracts, each relevant Lender hereby assigns to the Collections Agency his or her right title and interest in each Loan Contract with that Borrower on the 28th consecutive day after receiving in My Zopa notice of the following information:
1. The Borrower's failure to pay for 120 consecutive days;
2. The price which the Collections Agency shall pay to the Lender for the assignment of the Lender's right title and interest in each Loan Contract with that Borrower (which price will be equal to no less than 10% of the total amount then outstanding); and
3. The basis for calculating the purchase price with a request to assign all their right, title and interest in those Loan Contracts to the Collections Agency for an amount shown in the notice.
provided that the Lender, by notice in writing to the Managing Director of the Collections Agency prior to the expiry of the 28 day notice period, may either decline to proceed with the assignment, or commence good faith negotiations with the Collections Agency in relation to the purchase price.
7. The Zopa Member's Accounts
7.1 We will hold in the Zopa Members' Lending Account the amounts you wish to lend, including amounts you have lent but have not yet been disbursed to the Borrower through the Lending Platform. These will be recorded as a credit to your Zopa Wallet which you can see by logging on to My Zopa. These amounts are held by us on trust. In the event that interest is earned on any amounts held in the Zopa Members' Account, we shall apportion such interest amongst the Zopa members on whose money this interest has accrued by crediting their respective Zopa Wallets accordingly on a monthly basis. We shall not keep any interest earned for our own account. The perpetuity period of any trust created pursuant to these Principles shall be 80 years.
7.2 All payments by Lenders to Borrowers will be made through the Zopa Members' Lending Account.
7.3 As a Borrower, you make your repayments due under Loan Contracts by direct debit to the Zopa Members' Repayment Account, which results in an initial credit and debit to your Zopa Wallet, and then a credit in each relevant Lender's Zopa Wallet.
7.4 If you are a Lender, you can request through My Zopa the transfer of any amount you hold in your Zopa Wallet to your Nominated Account at any time, other than amounts that are the subject of matched offers and have not yet been disbursed to the Borrower. If a Loan Contract is found to be void under Principle 5.6, the amount you have lent under that Loan Contract will show in My Zopa as being available for you to re-offer on the Lending Platform or transfer to your Nominated Account as you see fit.
7.5 If your Zopa Wallet has funds in it and there has been no activity on the account for 18 months, at our discretion we will transfer those funds to your Nominated Account, or pay those funds to you by means of a cheque to your last known place of residence.
8. Zopa Charges
8.1 Each time you make a successful Confirmed Bid to borrow money using the Lending Platform we may charge you a fee equivalent to one half of one per cent (0.5%) of the amount borrowed by you. We may waive or reduce this fee from time to time for promotional purposes or as we see fit. While we have no plans at all to increase the fee, we reserve the right to do so at any time, but only do after first changing the Zopa Principles and showing the increased fee as part of the borrowing process that produces any Loan Contract on which the increased fee is levied (so you have the right not to proceed with that loan if you do not want to pay a higher fee).
8.2 As a service fee, we may deduct one half of one per cent (0.5%) of the loan principal outstanding under your Loan Contracts, except those under which payments have been missed and are not yet up to date. We may waive or reduce this fee from time to time for promotional purposes or as we see fit. While we have no plans at all to increase this fee, we reserve the right to do so at any time, but only do after first changing the Zopa Principles and showing the increased fee as part of the process of offering to lend money at Zopa (so you have the right not to proceed with that loan if you do not want to pay a higher fee).
8.3 We may also earn commission on the sale of any Zopa Repayment Protection insurance policy that you may choose to purchase through us.
8.4 If you are late in making payment the Collections Agency reserves the right to charge you a one-off administration fee of £20.00 for the work they do in attempting to collect your repayments. Interest will accrue on these fees until they are paid at the rate applicable to the relevant Loan Contracts. Other fees or charges that may be charged by the Collections Agency are:
* Tracing charges (finding you if we can't contact you) - £25
* Charges for document retrieval and copying up to 20 pages - £35
* Debt counselling service (if you fall into arrears and we can't contact you) - £80
* Litigation costs and expenses, including legal fees and expenses, to cover litigation recover outstanding arrears -borrower to be advised of the cost if such action proves necessary.
The Collections Agency will notify you if these charges change in nature or amount.
8.5 You are also responsible for any related telecommunications charges, digital television subscription or other charges for the time you spend accessing the Lending Platform via the Internet or any wireless, television or other relevant network.
9. Variations
9.1 We may vary the terms of the Zopa Principles from time to time to accommodate:
1. Zopa Members' feedback;
2. changes required by third party service providers;
3. improvements in the Lending Platform;
4. changes in applicable law, rules, regulations, market conventions;
5. decisions or orders of any court, ombudsman, arbitrator, regulator or any undertakings given in one of these contexts.
9.2 These changes are shown in our Amendment History, which is set out at the end of these Principles, but if we have made major changes or a lot of minor changes, we will simply summarise the nature of the changes under the Amendment History. We will always try to give at least 30 days' notice by email or My Zopa before making the change. If you continue to use the Lending Platform after we have given you such notice you will have accepted the Zopa Principles, as amended.
10. Term and termination of My Zopa
10.1 Once all your Loan Contracts are repaid, you may terminate your Zopa registration by sending us an email to contactus@zopa.com and you will no longer be able to access the Lending Platform. However, we and the Collections Agency will continue to maintain records to the extent that we are required by law to do so.
10.2 We may terminate your Zopa registration if you have lied to us, seriously or repeatedly breach the terms of these Principles, die, become bankrupt or make a voluntary arrangement with anyone you owe money to.
10.3 We may either terminate or suspend your registration immediately and without notice if we are aware or reasonably suspect that you are engaged in, or may be the victim of, any fraudulent activity. We will then notify you of any such termination or suspension as soon as is reasonably practicable, to the extent we are permitted to do so by applicable law.
10.4 When we terminate your registration, we will send you the amount credited to your Zopa Wallet at that time to your Nominated Account, or by cheque to your last known place of residence. This will not affect your obligation to repay the amount you have borrowed under a Loan Contract.
11. Use of Personal Information
11.1 We as data controller may use your Personal Information for: statistical analysis; to develop and improve our products; to update your records; to identify which of our, or others', products might interest you; to assess lending and insurance risks; to arrange, underwrite and administer insurance and handle claims; to identify, prevent, detect or tackle fraud, money laundering and other crime; to carry out regulatory checks; keeping you informed about your and for market research.
11.2 We will keep your Personal Information confidential and only give it to others for the purposes we explained when you applied to us, and:
1. if you ask us to or give us your permission to do so;
2. to a credit reference agency to check your identity and to prevent fraud, (they will also keep a record of your request and use it whenever anyone applies to be authenticated in your name);
3. if you are a borrower, to tell credit reference agencies that you have an account and how you run that account;
4. to our agents and subcontractors, acting for us or for Lenders, to use for the purpose of operating the Lending Platform and obtaining payment;
5. to insurers and insurance brokers for use relating to your Zopa Repayment Protection Insurance policy;
6. to investigate, prevent or detect fraud or carry out checks against money laundering;
7. to share information via an organisation which provides a centralised application matching service which it collects from and about mortgage and/or credit applications, for the purpose of preventing and detecting fraud;
8. to a reputable, licensed credit broker in the event that you apply to borrow money at Zopa, your application is declined or the loan monies are otherwise unavailable and we reasonably believe that the credit broker may be able to help you obtain a loan;
1. to trace debtors and recover debt;
2. to meet our obligations to any relevant regulatory authority or taxing authority; and
3. if we have to by law, the law allows it, or it is in the public interest.
11.3 We will check your details with a fraud prevention agency/agencies and if you give us false or inaccurate information and we suspect fraud, we will record this. We and other organisations may use and search these records to:
1. help make decisions about credit and credit related services, for you and members of your household;
2. help make decisions on motor, household, credit, life and other insurance proposals and insurance claims, for you and members of your household;
3. trace debtors, recover debt, prevent fraud, and to manage your accounts or insurance policies;
4. check your identity to prevent money laundering, unless you furnish us with other satisfactory proof of identity.
11.4 Any credit reference agency you search through Zopa will keep a record of any search, and other lenders may use it to assess applications they receive from you in the future.
11.5 As a general rule, we will give you at least 28 days notice if we decide to file a default on your credit reference file. However, we may not always give you notice beforehand, for example, if we plan to take court action.
11.6 We may transfer your Personal Information abroad to countries whose data protection laws are less strict than in the UK. If so, we will ensure the information is held securely to standards as least as good as those in the UK and only used for the purposes set out in this clause.
11.7 Under the Data Protection Act 1998, you have a right to access certain personal records we, credit reference agencies and fraud prevention agencies hold about you. This is called a 'subject access request', which you can make by writing to us at contactus@zopa.com. A fee may be payable, but we will not charge you until we have told you how much the fee is and what it is for, and you have told us you still want to proceed.
11.8 We do not disclose your Personal Information to any other Zopa Members unless it is necessary to enforce any of your Loan Contracts to obtain repayment. If you receive such information, you are not permitted to use it directly, other than in communication with us about your Loan Contracts.
11.9 You agree that, in the course of generating and managing your Loan Contracts, and operating My Zopa, the Lending Platform will need to send to Lenders and their assignees or the Borrower, as the case may be, certain transactional data (for example, unique identifier, loan amount and repayment details) but not your full name, post code address or payment details. We will not be liable for any use or misuse of the transactional data by others, but you must inform us of any misuse of the Lending Platform of which you are aware.
12. Protecting Zopa Information
12.1 Zopa Information is owned by us or our licensors (for example, credit reference agencies). Any use of Zopa Information otherwise than in accordance with these Principles entitles us to cancel My Zopa. You may:
1. display Zopa Information on a computer screen or take a reasonable number of copies for your records or store the Zopa Information in electronic form on your computer, provided that such copies and any stored Zopa Information is only used for your own personal and non-commercial purposes;
2. not reproduce, modify or in any other way commercially exploit any of the Zopa Information. In particular, but without limiting the generality of the previous sentence, you may not do any of the following without our prior written consent (which may be withheld for any reason):
1. redistribute any of the Zopa Information;
2. remove any copyright, trade mark or other notice included with the Zopa Information;
3. create a database in electronic or structured manual form by systematically downloading and storing all or any such Information.
13. Links and Tools
13.1 The Zopa Information may include personal credit scores, output from educational tools (including credit calculators designed to allow you to consider "what if" scenarios using pricing and other data). None of this or any other aspect of the Zopa Information will provide more than indicative results, depending on the data you have supplied, and cannot be relied upon as a guarantee of any particular result. Such Zopa Information does not constitute any form of advice, recommendation or endorsement by us, and is not intended to be relied upon by you as the sole basis for making (or refraining from making) any specific decision.
13.2 We will use reasonable skill and care in the supply of the Zopa Information to you. Due to the number of third party sources from which the Zopa Information is obtained and the nature of distribution of data via the Internet, we cannot guarantee, warrant or represent that:
1. the Zopa Information is complete, accurate, up-to-date or error-free;
2. the Lending Platform or web site is virus free or that their operation will be continuous, uninterrupted or error-free.
13.3 You download the Zopa Information at your own discretion and will be exclusively responsible for any damage to your computer or any lost data that results from you downloading any of the Zopa Information.
13.4 The Lending Platform contains links to other Internet sites and telephone numbers for services provided by others. The availability of such third party sites, services or material does not constitute any form of recommendation, advice, endorsement or publication of any such third party sites, services or material and we are not responsible for their availability or content.
13.5 You may not include a link to the Lending Platform in any other site, computer or network without our prior written consent and licence.
14. Limits on Liability
14.1 We agree to:
1. act fairly, reasonably and responsibly in our dealings with you;
2. not discriminate against any Zopa Member because of their race, sex, disability, ethnic background or sexuality; and
3. correct mistakes and handle complaints promptly in accordance with any agreed time periods.
14.2 Except as otherwise expressly stated in these principles, we shall only be liable for foreseeable loss or damage arising directly out of our own breaches of these Principles, negligence or wilful misconduct.
14.3 If you have lent money at Zopa while holding a Consumer Credit Licence issued by the Office of Fair Trading in the UK, our liability to you on any basis whatsoever shall not exceed the total amount of revenue earned by Zopa in respect of transactions entered into by you via Zopa.
14.4 We shall not be liable for any loss or damage arising out of or in connection with:
1. any error or inaccuracy in the data entered by you or any other Zopa Member;
2. any negligence, breach of contract, misrepresentation or wilful misconduct in relation to the Loan Contracts or other uses of the Lending Platform (other than our own).
14.5 We shall not be liable for any indirect, special or consequential loss or damage, including loss or damage arising out of or in connection with lost data, lost profits, damage to goodwill or business interruption, any delay or failure to perform its own obligations under these principles due to circumstances beyond our own reasonable control.
14.6 Nothing in these principles shall exclude or limit the liability of either you or us for death or personal injury caused by our own negligent acts or omissions.
15. General
15.1 If any part of the Zopa Principles that is not fundamental is found to be illegal or unenforceable, such finding will not affect the validity or enforceability of the remainder of the Zopa Principles.
15.2 You agree that all documents that we are entitled to send you electronically may be delivered to you at your My Zopa. Any notices we give you shall be given in writing via the Lending Platform to your My Zopa. You will also receive by email to your email address specified in My Zopa from time to time a prompt to refer to your My Zopa.
15.3 The records kept in the Lending Platform shall be conclusive of the facts and matters they purport to record.
15.4 "ZOPA", and related design, are trademarks of Zopa Limited.
15.5 If we do not strictly apply our rights under the Zopa Princniples at any time, that will not prevent us from doing so later.
15.6 The Zopa Principles are in English and governed by English law which shall also apply to the establishment of our relationship with you. We will only write and communicate with you in English.
15.7 If any taxes apply to you as a result of entering into this agreement you must account for them yourself.
16. System complaints and Dispute Resolution
16.1 If you wish to make a complaint about Zopa Repayment Protection, you should follow the complaints procedure outlined in the policy documentation. If you complain to us about the policy, we will refer you to the product provider.
16.2 If you want to make a complaint about Zopa you can email contactus@zopa.com., with brief details of your complaint and your account number. Our Customer Service staff will acknowledge your complaint by email within 1 business day. They will then investigate and send you an initial response, having had access to an officer with the authority to settle the complaint (including, where appropriate, an offer of redress). Where appropriate, the member of staff investigating the complaint will not be any staff member who was directly involved in the subject matter of the complaint. This should take no longer than five business days, but most complaints may well be resolved by close of business on the business day after the complaint is received. If the complaint is not resolved by close of business on the business day after the complaint is received, we will send you a copy of this complaints handling procedure. If you are not satisfied by our response, you must contact the Customer Services Manager, who will respond by email within a further five business days.
16.3 If you are not satisfied with the response from the Customer Services Manager, you can email contactus@zopa.com, enclosing the responses already given to you. Your email will then be referred to the Chief Executive Officer, who will respond by email within a final five business days.
16.4 If within four weeks after receiving a complaint, we will send you either a final response or a response which explains why we are not in a position to resolve the complaint and indicates when we will make further contact. Complaints that we cannot settle within 8 weeks after the date of complaint may ultimately be referred to the Financial Ombudsman Service. Before that option becomes available to you, you may find it helpful to make use of the conciliation scheme of the Finance & Leasing Association ("the FLA") to resolve your complaint (www.fla.org.uk, 020 7836 6511). We are a member of FLA and are bound by their Lending Code. The FLA conciliation scheme cannot deal with any complaint by a lender, or any complaint that has been, or is being, considered by the courts, or by any other independent arbitration scheme or ombudsman scheme.
17. Monitoring and compliance
17.1 Our internal procedures makes sure that we comply with the applicable provisions of the Lending Code of the FLA. We have to fill in an "annual statement of compliance" as a condition of our membership of the FLA.
17.2 The code is monitored by the FLA Lending Code Group which is made up of representatives from the finance houses and independent consumers. It also has an independent chairman. The Group produces an annual report, which we can send to you, if you ask.
17.3 You can contact the FLA Lending Group if you have a complaint about the general running of the code by writing to:
The Compliance Manager
Finance & Leasing Association
Imperial House
15-19 Kingsway
London
WC2B 6UN
18. Our Legal and Regulatory Status
Zopa Limited is:
* a company incorporated in England & Wales under company registration number 05197592, having its registered office at 3rd Floor, Radiant House, 36-38 Mortimer Street, London W1W 7RG;
* authorised and regulated by the Financial Services Authority;
* the holder of Consumer Credit Licence No. 563134;
* registered with the Office of the Information Commissioner (registration number Z879078)
* a member of the Finance & Leasing Association, CIFAS and National Hunter
19. Defined Terms
19.1 In these Principles the following words have the following meanings:
Borrower
A Zopa Member who borrows money under a Loan Contract;
Borrowing Criteria
The amount that you, as a potential Borrower, would like to borrow via the Lending Platform, whether or not you wish to purchase Zopa Repayment Protection, and the period over which you want to repay the amount borrowed;
Collections Agency
Credit Resource Solutions Limited of 46 Prescott Street, Halifax, HX1 2QW;
Confirmed Bid
A bid which a potential Borrower posts on the Lending Platform confirming an Indicative Bid;
Credit Rating
A credit rating supplied by Equifax plc in relation to a Zopa Member via the Lending Platform;
Eligibility Criteria
Conditions set out in Principle 2 which you have to satisfy to be registered as a Zopa Member;
Indicative Bid
A bid to borrow £10 from a Lender, which a potential Borrower posts on the Lending Platform setting out his or her Borrowing Criteria;
Lender
A Zopa Member who lends money under a Loan Contract and, for the purposes of enforcing a Loan Contract, includes any person to whom an Lender has transferred his or her rights under that Loan Contract;
Lending Criteria
The amount you wish to lend, the market(s) in which you wish to lend, the minimum rate you are prepared to lend at and the period over which you are prepared to lend;
Lending Platform
The internet marketplace which we operate for the purpose of matching Loan Offers and Confirmed Bids;
Loan Conditions
The standard terms and conditions displayed by the Lending Platform and agreed by each Lender and Borrower when he or she begins the process of making a Loan Offer or a Confirmed Bid, as the case may be;
Loan Contract
The agreement, incorporating the Loan Conditions, that is agreed when a Borrower's Confirmed Bid matches a Lender's Loan Offer and the Borrower electronically counter-signs the corresponding credit agreement, recording a loan of £10 to that Borrower from that Lender;
Loan Offer
An offer to lend £10 to a Borrower, which a potential Lender posts on the Lending Platform, setting out his or her Lending Criteria;
My Zopa
In relation to each Zopa Member, the part of our website which can only be accessed by that Zopa Member, using his or her own Passcodes;
Nominated Account
The current account you have with a United Kingdom bank from which you authorise us to collect payments under the direct debiting scheme, and to which we will make any payments due to you;
Passcodes
Your unique Zopa Member identification number and password, which you specify when you register as a Zopa Member;
Personal Information
The information we obtain about you from you, from our enquiries and from other organisations, such as credit reference and fraud prevention agencies. Examples of Personal Information include (1) information from application and assessment forms; (2) your requests and instructions; (3) details and analysis of how you meet your obligations under this agreement or other agreements you have with us; and (4) other information we get from making offers to you;
Zopa
Zopa Limited;
Zopa Information
All information delivered to you by us during your use of the Lending Platform (including but not limited to the credit report monitoring, personal credit scores and loan pricing data), including all copyright, database rights and all other intellectual property rights in such Information;
Zopa Repayment Protection
The payment protection insurance policy arranged by us with Pinnacle Insurance plc (trading as "Cardif Pinnacle") whose registered office is at Pinnacle House, A1 Barnet Way, Borehamwood, Hertfordshire WD6 2XX, (registered number 1007798), which is the subject of a separate insurance policy;
Zopa Member
An individual who has completed the registration process and chosen his or her own Passcode;
Zopa Members' Account
Any segregated bank account we maintain with Royal Bank of Scotland (or such other UK bank as we may choose from time to time) for the sole purpose of holding funds to which Zopa Members are beneficially entitled in accordance with these Principles and/or any Loan Contract;
Zopa Members' Lending Account
Any Zopa Members' Account maintained for the sole purpose of holding funds to which Zopa Lenders transfer funds that they wish to lend at Zopa;
Zopa Members' Repayment Account
Any Zopa Members' Account maintained for the sole purpose of holding funds to which Zopa Borrowers make repayments under Loan Contracts;
Zopa Wallet
The portion of the database that records the amount we hold for you at any time in the Zopa Members' Account.
Ідея системи у тому, що люди замість використання класичних банків, почичають/дають позики одне одному через Інтернет... Зопа банкам?
The Zopa Principles
1. Introduction
1.1 The Zopa Lending Platform is an internet marketplace for putting Lenders and Borrowers in touch with each other. These Principles regulate the relationship between Zopa and Zopa Members. The relationship between Lenders and Borrowers is also regulated by these Principles except in relation to lending, which is regulated by a Loan Contract. Zopa Limited is not a party to any Loan Contracts between Lenders and Borrowers. Our function is to operate the Lending Platform.
1.2 In these Principles "we", "us" and "our" mean Zopa Limited and "you" and "your" mean the Zopa Member (acting as a Borrower and/or a Lender as the context requires). Other words to which we have given a particular meaning begin with a capital letter. These words and meanings are set out at the end of this document.
2. Eligibility and registration
2.1 To register with us you must meet our Eligibility Criteria. This means that, unless you are the holder of a current, valid Consumer Credit Licence issued by the Office of Fair Trading in the UK ("a CC Licensee"):
1. you must be an individual, at least 18 years old, living in the United Kingdom; and
2. you must have a current account in your own name with a bank in the United Kingdom.
2.2 Unless you are a CC Licensee, to be eligible as an Lender, you must also:
1. only ever lend your own money and never have total loans of more than £25,000 outstanding to other people at any one time; and
2. not be a credit broker or lend money to other persons in the course of any business.
provided that the trustee of a Self Invested Personal Pension ("SIPP") or Small Self Administered Scheme ("SSAS") (in either case "the SIPP Trustee") may authorise you as the person to whom it has provided the SIPP or SSAS to operate the Zopa account through which the SIPP or SSAS funds are lent, subject to the provisions of paragraph 4.10 below.
2.3 If you meet our Eligibility Criteria, you can register with us as a Zopa Member. As part of this process:
1. we will:
1. make identity, fraud and credit checks;
2. (ii) obtain a Credit Rating for you from the credit reference agency we use;
2. you will specify a Zopa username and Passcodes.
2.4 When these steps have been completed, we will register you as a Zopa Member, give you Passcodes and set up My Zopa for you.
2.5 If we are unable to complete any steps in Principle 2.3, we will not register you as a Zopa Member.
3. My Zopa
3.1 To lend or borrow through the Lending Platform you must log on to My Zopa.
3.2 When you enter My Zopa we will check your identity by asking for your Zopa username and your Passcodes. As long as the correct username and Passcodes are entered, we will assume that you are the person giving instructions and making transactions and you will be liable for them, except to the extent provided for in Principle 3.6. You must therefore keep your Passcodes secret (as well as the PIN or other codes that protect access to your Nominated Account) and make sure that they are not stored on your workstation in a way that enables others to impersonate you.
3.3 We can refuse to act on any instruction that we believe: (i) was unclear; (ii) was not given by you; or (iii) might cause us to breach a legal or other duty; or if we think Zopa is being used for an illegal purpose.
3.4 You must never tell anyone else your Passcodes (nor the PIN or other codes that protect access to your Nominated Account) or write them down without disguising them.
3.5 You must tell us as soon as possible if you think that someone else knows your Passcodes (or the PIN or other codes that protect access to your Nominated Account) or can use Zopa by impersonating you. Until you tell us:
1. you will be responsible for any instruction which we receive and act on, even if it was not given by you; and
2. we will not be responsible for any unauthorised access to confidential information about you on My Zopa.
3.6 We will do all that we reasonably can to prevent unauthorised access to My Zopa. As long as you have not broken the other terms contained in this Principle 3, we will accept liability for any loss or damage to you resulting directly from any unauthorised access to My Zopa (see Principle 16 for limits on our liability).
3.7 My Zopa will show:
1. the amount credited to your Zopa Wallet in the Zopa Members' Account; and
2. the amount you:
1. have lent (if any); and/or
2. have offered to borrow; or have borrowed (if any);
through the Lending Platform;
3. your Credit Rating and other personal details; and
4. information about the Lending Platform.
4. Lending
4.1 If you decide to lend using the Lending Platform, then in order to ensure that your loan funds are readily available for disbursement to Borrowers, you must first pay the total amount you wish to lend into the Zopa Members' Lending Account by bank transfer or direct debit from your Nominated Account, or via PayPal, or by debit card linked to your Nominated Account. Please always, quote your unique username as a reference. As part of the Lender registration process you must give us details of your Nominated Account. All payments you make with your username included will be recorded on My Zopa as a credit to your Zopa Wallet.
4.2 When using PayPal, please note:
1. You can only use the existing PayPal balance for a transfer from your UK bank account to your PayPal account to fund a PayPal payment to the Zopa Members' Lending Account. You cannot use your credit or debit card to fund PayPal payments to the Zopa Members' Lending Account;
2. PayPal charges Zopa a fee equivalent to 1% of the amount that each Lender pays to Zopa's PayPal account for transfer to the Zopa Members' Lending Account, plus £0.20 for each such payment. Because of the way the PayPal system works, you agree that PayPal can deduct these charges before your PayPal payment reaches Zopa's PayPal account, provided that we then contribute an amount equivalent to PayPal's fees ("the Zopa PayPal Bonus"), so that the amount available to you in the Zopa Members' Lending Account equals the amount that you paid to Zopa's PayPal account.
4.3 When you use a debit card to transfer money to the Zopa Members' Lending Account, you agree that that debit card transaction is complete as soon as the amount you transferred has been credited to your Zopa Wallet.
4.4 Unless you are a CC Licensee (in which case Principle 4.5 applies), to diversify your risk:
1. each time you offer to lend more than £500 to others at Zopa:
1. you are agreeing to lend that money to at least 50 different borrowers in amounts of £10 (each being the subject of a separate Loan Contract);
2. unless you specify a higher amount, the maximum amount that you will lend to each Borrower from that offer is £200;
3. if you make multiple offers in the same market at any one time, you could lend more than £200 to the same Borrower, although each set of offers is still successfully diversified across 50 different borrowers. If you do not want to lend more than £200 to any one borrower, please ensure that you do not have more than one offer in each market at any one time.
2. Each time you offer to lend less than £500 to others at Zopa:
1. you are agreeing to lend that money in amounts of £10, each such amount being the subject of a separate Loan Contract;
2. unless you specify a higher amount, the maximum amount that you will lend to each Borrower is £10;
3. you will not be lending to 50 different borrowers.
3. Amounts that are repaid to you by Borrowers, and which are re-offered using the automated "lend more" function, are added to your most recent offer in the market, and are therefore subject to the diversification rule that already applies to that offer.
4.5 If you are a CC Licensee, to minimise the number of credit agreements you must sign, each agreement will be for £500 (unless you ask us for a lesser figure). So, to diversify your risk when lending in £500 increments, you should offer to lend to others at Zopa at least £25,000 and:
1. each time you offer to lend money to others at Zopa:
1. you are agreeing to lend that money in amounts of £500 (each being the subject of a separate Loan Contract);
2. unless you specify a higher amount, the maximum amount that you will lend to each Borrower from that offer is £500;
3. if you make multiple offers in the same market at any one time, you could lend more than £500 to the same Borrower, although each set of offers is still successfully diversified across 50 different borrowers. If you do not want to lend more than £500 to any one borrower, please ensure that you do not have more than one offer in each market at any one time.
2. Amounts that are repaid to you by Borrowers, and which are re-offered using the automated "lend more" function, are added to your most recent offer in the market, and are therefore subject to the diversification rule that already applies to that offer.
4.6 Once you have made a payment into the Zopa Members' Lending Account you must then log onto My Zopa and follow the instructions for setting your Lending Criteria and posting your Loan Offer for lending to Borrowers who match those Lending Criteria. Your Loan Offer will remain open until either you withdraw it, or it is matched by the Lending Platform with Confirmed Bids made by Borrowers.
4.7 By posting a Loan Offer and (if you are a CC Licensee, electronically signing a corresponding credit agreement), you are offering to enter into a Loan Contract with a Borrower who meets your Lending Criteria. Each Loan Offer is open to be accepted by a Borrower unless and until it is withdrawn by you. You will not be asked to confirm your Loan Offer once it has been matched with a Borrower's Confirmed Bid. The Loan Contract will be formed automatically at that point (or, if you are a CC Licensee, when the Borrower electronically counter-signs the credit agreement corresponding to your Loan Offer).
4.8 Once your Loan Offer is matched with a Confirmed Bid, the £10 you have lent will be deducted from your Zopa Wallet and be credited to the relevant Borrower's Zopa Wallet or Zopa (in respect of the charges payable to Zopa by the Borrower) or Cardif Pinnacle (in respect of any Zopa Repayment Protection premium).
4.9 The Borrower will set up a direct debit to pay to the Zopa Members' Repayment Account the amount that is repayable to you and these amounts will be credited to your Zopa Wallet. You can log on to My Zopa and either re-offer these amounts, or request the payment of these amounts to your Nominated Account.
4.10 The legal title to any money that you contribute to a SIPP or SSAS is held in a trust by the SIPP Trustee, so the SIPP Trustee will need to register with us. To start the process by which your SIPP or SSAS can lend money to other people via Zopa, you must follow the instructions at www.zopa.com, including nominating the amount of money, rate(s) and term(s) on which that money is to be lent. Completing that process will result in your the appropriate application and approval form being sent by us to the SIPP Trustee. The SIPP Trustee may be a CC Licensee. If so, the SIPP Trustee authorises you to electronically pre-sign the credit agreements that CC Licensees must sign when lending at Zopa to comply with the provisions of the Consumer Credit Act 1974. None of the SSIP or SSAS lending offers will be placed in the market unless and until the SSIP Trustee has granted any approvals it may need to, and has transferred the necessary funds from your SSIP or SSAS to the Zopa Members Lending Account. While you will have access to the MyZopa account that relates to the loans made by your SSIP or SSAS, only your SSIP Trustee can transfer the SSIP or SSAS funds to, or receive such funds from, the Zopa Members Lending Account.
5. Borrowing
5.1 If you want to borrow through the Lending Platform, you will have the opportunity to post Indicative Bids specifying your Borrowing Criteria. If you wish to take out Zopa Repayment Protection, the amount of the Zopa Repayment Protection premium (rounded up to the nearest £10) will be added to the total of your Indicative Bids. Your projected repayments will then reflect the total amount to be borrowed, including the amount to pay any Zopa Repayment Protection premium.
5.2 You must then enter the details of your Nominated Account and set up a direct debit from that account to the Zopa Members' Repayment Account, which is to be used to make the repayments due from you to the Lender under each Loan Contract you enter into.
5.3 The Lending Platform will then notify you whether your Indicative Bid is likely to be successful. If you wish to proceed at this stage, you may then post a Confirmed Bid, which must be in the same terms as your Indicative Bid, (and, if any of your Lenders is a CC Licensee) electronically counter-sign the corresponding credit agreements), at which time the Loan Contracts will be formed.
5.4 Your Confirmed Bid will either be matched with a Lending Offer by the Lending Platform, or not, in which case it will lapse.
5.5 By posting a Confirmed Bid, you are agreeing to accept a Loan Offer that meets your Borrowing Criteria.
5.6 Once each of your Confirmed Bids has been matched with Loan Offers, we will provisionally credit your Zopa Wallet with the total amount you have borrowed, less our fee and the amount of any Zopa Repayment Protection premium, but actual payment of this amount is subject to:
1. you providing us with certain additional information which we will ask you for - provided that this additional information and the information you gave us before making the Confirmed Bid was not inaccurate or deficient in any respect (if we discover that it was, then the Loan Contract will be void and we will report this information to credit reference and fraud agencies);
2. us checking your credit reference and the information you provide us to assess the affordability of your repayments; and
3. us sending you a Personal Identification Number (PIN) verification letter, and you emailing back to us the PIN (failing which the Loan Contract will be void and we will report this information to credit reference and fraud agencies.
5.7 If you want to exercise a right to repay early under the Loan Conditions (which you may do so free of any charge, except interest payable to the date of repayment), please email us at contactus@zopa.com.
6. After Loan Contracts Have Been Formed
6.1 The Lending Platform operates by instant matching of Loan Offers with Confirmed Bids, which produces each Loan Contract (any of which may be a credit agreement signed by each Lender and Borrower if the relevant Lender is a CC Licensee). This means you will not be given the opportunity to review the Loan Contract or the Loan Conditions after you have made a Loan Offer or a Confirmed Bid, as the case may be. By accepting these Principles you are accepting that:
1. the Loan Conditions will be incorporated into every Loan Contract;
2. the Lending Platform processes Borrowers' direct debit payments in relation to the repayment of amounts under each Loan Contract;
3. each Lender sub-contracts to the Collections Agency the collection of any missed payments due from Borrowers in accordance with the collections procedure published on the Lending Platform from time to time.
6.2 Each time Loan Offers and Confirmed Bids are matched details of the amount lent or borrowed will be recorded in My Zopa, including the number of Loan Contracts that make up your total lending or borrowing. The name of each Lender or Borrower will appear in the Loan Contract. The identity of each Zopa Member will not be disclosed to any other Zopa Member, except where it is necessary to do so as part of court or other enforcement proceedings for the recovery under any Loan Contract.
6.3 If you miss a loan repayment, or find yourself in financial difficulties and you believe you cannot afford to repay the amount due under any of your Loan Contracts, you should contact us as soon as possible by email to contactus@zopa.com. We will do the following:
1. explain the procedures we will apply and your options;
2. tell you if your account is being passed to the Collections Agency.
6.4 You should tell Zopa or the Collections Agency, as the case may be, when your circumstances change in a way that may adversely impact your ability to repay the amount due under any of your Loan Contracts.
6.5 If your relationship with Zopa or the Collections Agency has broken down, this will be included in the information supplied to the credit reference agencies. You should be aware that this may have serious consequences for your ability to get credit in the future.
6.6 If a Borrower fails for a period of 120 consecutive days to pay the full amount of each repayment then due and payable in relation to the Loan Contracts, each relevant Lender hereby assigns to the Collections Agency his or her right title and interest in each Loan Contract with that Borrower on the 28th consecutive day after receiving in My Zopa notice of the following information:
1. The Borrower's failure to pay for 120 consecutive days;
2. The price which the Collections Agency shall pay to the Lender for the assignment of the Lender's right title and interest in each Loan Contract with that Borrower (which price will be equal to no less than 10% of the total amount then outstanding); and
3. The basis for calculating the purchase price with a request to assign all their right, title and interest in those Loan Contracts to the Collections Agency for an amount shown in the notice.
provided that the Lender, by notice in writing to the Managing Director of the Collections Agency prior to the expiry of the 28 day notice period, may either decline to proceed with the assignment, or commence good faith negotiations with the Collections Agency in relation to the purchase price.
7. The Zopa Member's Accounts
7.1 We will hold in the Zopa Members' Lending Account the amounts you wish to lend, including amounts you have lent but have not yet been disbursed to the Borrower through the Lending Platform. These will be recorded as a credit to your Zopa Wallet which you can see by logging on to My Zopa. These amounts are held by us on trust. In the event that interest is earned on any amounts held in the Zopa Members' Account, we shall apportion such interest amongst the Zopa members on whose money this interest has accrued by crediting their respective Zopa Wallets accordingly on a monthly basis. We shall not keep any interest earned for our own account. The perpetuity period of any trust created pursuant to these Principles shall be 80 years.
7.2 All payments by Lenders to Borrowers will be made through the Zopa Members' Lending Account.
7.3 As a Borrower, you make your repayments due under Loan Contracts by direct debit to the Zopa Members' Repayment Account, which results in an initial credit and debit to your Zopa Wallet, and then a credit in each relevant Lender's Zopa Wallet.
7.4 If you are a Lender, you can request through My Zopa the transfer of any amount you hold in your Zopa Wallet to your Nominated Account at any time, other than amounts that are the subject of matched offers and have not yet been disbursed to the Borrower. If a Loan Contract is found to be void under Principle 5.6, the amount you have lent under that Loan Contract will show in My Zopa as being available for you to re-offer on the Lending Platform or transfer to your Nominated Account as you see fit.
7.5 If your Zopa Wallet has funds in it and there has been no activity on the account for 18 months, at our discretion we will transfer those funds to your Nominated Account, or pay those funds to you by means of a cheque to your last known place of residence.
8. Zopa Charges
8.1 Each time you make a successful Confirmed Bid to borrow money using the Lending Platform we may charge you a fee equivalent to one half of one per cent (0.5%) of the amount borrowed by you. We may waive or reduce this fee from time to time for promotional purposes or as we see fit. While we have no plans at all to increase the fee, we reserve the right to do so at any time, but only do after first changing the Zopa Principles and showing the increased fee as part of the borrowing process that produces any Loan Contract on which the increased fee is levied (so you have the right not to proceed with that loan if you do not want to pay a higher fee).
8.2 As a service fee, we may deduct one half of one per cent (0.5%) of the loan principal outstanding under your Loan Contracts, except those under which payments have been missed and are not yet up to date. We may waive or reduce this fee from time to time for promotional purposes or as we see fit. While we have no plans at all to increase this fee, we reserve the right to do so at any time, but only do after first changing the Zopa Principles and showing the increased fee as part of the process of offering to lend money at Zopa (so you have the right not to proceed with that loan if you do not want to pay a higher fee).
8.3 We may also earn commission on the sale of any Zopa Repayment Protection insurance policy that you may choose to purchase through us.
8.4 If you are late in making payment the Collections Agency reserves the right to charge you a one-off administration fee of £20.00 for the work they do in attempting to collect your repayments. Interest will accrue on these fees until they are paid at the rate applicable to the relevant Loan Contracts. Other fees or charges that may be charged by the Collections Agency are:
* Tracing charges (finding you if we can't contact you) - £25
* Charges for document retrieval and copying up to 20 pages - £35
* Debt counselling service (if you fall into arrears and we can't contact you) - £80
* Litigation costs and expenses, including legal fees and expenses, to cover litigation recover outstanding arrears -borrower to be advised of the cost if such action proves necessary.
The Collections Agency will notify you if these charges change in nature or amount.
8.5 You are also responsible for any related telecommunications charges, digital television subscription or other charges for the time you spend accessing the Lending Platform via the Internet or any wireless, television or other relevant network.
9. Variations
9.1 We may vary the terms of the Zopa Principles from time to time to accommodate:
1. Zopa Members' feedback;
2. changes required by third party service providers;
3. improvements in the Lending Platform;
4. changes in applicable law, rules, regulations, market conventions;
5. decisions or orders of any court, ombudsman, arbitrator, regulator or any undertakings given in one of these contexts.
9.2 These changes are shown in our Amendment History, which is set out at the end of these Principles, but if we have made major changes or a lot of minor changes, we will simply summarise the nature of the changes under the Amendment History. We will always try to give at least 30 days' notice by email or My Zopa before making the change. If you continue to use the Lending Platform after we have given you such notice you will have accepted the Zopa Principles, as amended.
10. Term and termination of My Zopa
10.1 Once all your Loan Contracts are repaid, you may terminate your Zopa registration by sending us an email to contactus@zopa.com and you will no longer be able to access the Lending Platform. However, we and the Collections Agency will continue to maintain records to the extent that we are required by law to do so.
10.2 We may terminate your Zopa registration if you have lied to us, seriously or repeatedly breach the terms of these Principles, die, become bankrupt or make a voluntary arrangement with anyone you owe money to.
10.3 We may either terminate or suspend your registration immediately and without notice if we are aware or reasonably suspect that you are engaged in, or may be the victim of, any fraudulent activity. We will then notify you of any such termination or suspension as soon as is reasonably practicable, to the extent we are permitted to do so by applicable law.
10.4 When we terminate your registration, we will send you the amount credited to your Zopa Wallet at that time to your Nominated Account, or by cheque to your last known place of residence. This will not affect your obligation to repay the amount you have borrowed under a Loan Contract.
11. Use of Personal Information
11.1 We as data controller may use your Personal Information for: statistical analysis; to develop and improve our products; to update your records; to identify which of our, or others', products might interest you; to assess lending and insurance risks; to arrange, underwrite and administer insurance and handle claims; to identify, prevent, detect or tackle fraud, money laundering and other crime; to carry out regulatory checks; keeping you informed about your and for market research.
11.2 We will keep your Personal Information confidential and only give it to others for the purposes we explained when you applied to us, and:
1. if you ask us to or give us your permission to do so;
2. to a credit reference agency to check your identity and to prevent fraud, (they will also keep a record of your request and use it whenever anyone applies to be authenticated in your name);
3. if you are a borrower, to tell credit reference agencies that you have an account and how you run that account;
4. to our agents and subcontractors, acting for us or for Lenders, to use for the purpose of operating the Lending Platform and obtaining payment;
5. to insurers and insurance brokers for use relating to your Zopa Repayment Protection Insurance policy;
6. to investigate, prevent or detect fraud or carry out checks against money laundering;
7. to share information via an organisation which provides a centralised application matching service which it collects from and about mortgage and/or credit applications, for the purpose of preventing and detecting fraud;
8. to a reputable, licensed credit broker in the event that you apply to borrow money at Zopa, your application is declined or the loan monies are otherwise unavailable and we reasonably believe that the credit broker may be able to help you obtain a loan;
1. to trace debtors and recover debt;
2. to meet our obligations to any relevant regulatory authority or taxing authority; and
3. if we have to by law, the law allows it, or it is in the public interest.
11.3 We will check your details with a fraud prevention agency/agencies and if you give us false or inaccurate information and we suspect fraud, we will record this. We and other organisations may use and search these records to:
1. help make decisions about credit and credit related services, for you and members of your household;
2. help make decisions on motor, household, credit, life and other insurance proposals and insurance claims, for you and members of your household;
3. trace debtors, recover debt, prevent fraud, and to manage your accounts or insurance policies;
4. check your identity to prevent money laundering, unless you furnish us with other satisfactory proof of identity.
11.4 Any credit reference agency you search through Zopa will keep a record of any search, and other lenders may use it to assess applications they receive from you in the future.
11.5 As a general rule, we will give you at least 28 days notice if we decide to file a default on your credit reference file. However, we may not always give you notice beforehand, for example, if we plan to take court action.
11.6 We may transfer your Personal Information abroad to countries whose data protection laws are less strict than in the UK. If so, we will ensure the information is held securely to standards as least as good as those in the UK and only used for the purposes set out in this clause.
11.7 Under the Data Protection Act 1998, you have a right to access certain personal records we, credit reference agencies and fraud prevention agencies hold about you. This is called a 'subject access request', which you can make by writing to us at contactus@zopa.com. A fee may be payable, but we will not charge you until we have told you how much the fee is and what it is for, and you have told us you still want to proceed.
11.8 We do not disclose your Personal Information to any other Zopa Members unless it is necessary to enforce any of your Loan Contracts to obtain repayment. If you receive such information, you are not permitted to use it directly, other than in communication with us about your Loan Contracts.
11.9 You agree that, in the course of generating and managing your Loan Contracts, and operating My Zopa, the Lending Platform will need to send to Lenders and their assignees or the Borrower, as the case may be, certain transactional data (for example, unique identifier, loan amount and repayment details) but not your full name, post code address or payment details. We will not be liable for any use or misuse of the transactional data by others, but you must inform us of any misuse of the Lending Platform of which you are aware.
12. Protecting Zopa Information
12.1 Zopa Information is owned by us or our licensors (for example, credit reference agencies). Any use of Zopa Information otherwise than in accordance with these Principles entitles us to cancel My Zopa. You may:
1. display Zopa Information on a computer screen or take a reasonable number of copies for your records or store the Zopa Information in electronic form on your computer, provided that such copies and any stored Zopa Information is only used for your own personal and non-commercial purposes;
2. not reproduce, modify or in any other way commercially exploit any of the Zopa Information. In particular, but without limiting the generality of the previous sentence, you may not do any of the following without our prior written consent (which may be withheld for any reason):
1. redistribute any of the Zopa Information;
2. remove any copyright, trade mark or other notice included with the Zopa Information;
3. create a database in electronic or structured manual form by systematically downloading and storing all or any such Information.
13. Links and Tools
13.1 The Zopa Information may include personal credit scores, output from educational tools (including credit calculators designed to allow you to consider "what if" scenarios using pricing and other data). None of this or any other aspect of the Zopa Information will provide more than indicative results, depending on the data you have supplied, and cannot be relied upon as a guarantee of any particular result. Such Zopa Information does not constitute any form of advice, recommendation or endorsement by us, and is not intended to be relied upon by you as the sole basis for making (or refraining from making) any specific decision.
13.2 We will use reasonable skill and care in the supply of the Zopa Information to you. Due to the number of third party sources from which the Zopa Information is obtained and the nature of distribution of data via the Internet, we cannot guarantee, warrant or represent that:
1. the Zopa Information is complete, accurate, up-to-date or error-free;
2. the Lending Platform or web site is virus free or that their operation will be continuous, uninterrupted or error-free.
13.3 You download the Zopa Information at your own discretion and will be exclusively responsible for any damage to your computer or any lost data that results from you downloading any of the Zopa Information.
13.4 The Lending Platform contains links to other Internet sites and telephone numbers for services provided by others. The availability of such third party sites, services or material does not constitute any form of recommendation, advice, endorsement or publication of any such third party sites, services or material and we are not responsible for their availability or content.
13.5 You may not include a link to the Lending Platform in any other site, computer or network without our prior written consent and licence.
14. Limits on Liability
14.1 We agree to:
1. act fairly, reasonably and responsibly in our dealings with you;
2. not discriminate against any Zopa Member because of their race, sex, disability, ethnic background or sexuality; and
3. correct mistakes and handle complaints promptly in accordance with any agreed time periods.
14.2 Except as otherwise expressly stated in these principles, we shall only be liable for foreseeable loss or damage arising directly out of our own breaches of these Principles, negligence or wilful misconduct.
14.3 If you have lent money at Zopa while holding a Consumer Credit Licence issued by the Office of Fair Trading in the UK, our liability to you on any basis whatsoever shall not exceed the total amount of revenue earned by Zopa in respect of transactions entered into by you via Zopa.
14.4 We shall not be liable for any loss or damage arising out of or in connection with:
1. any error or inaccuracy in the data entered by you or any other Zopa Member;
2. any negligence, breach of contract, misrepresentation or wilful misconduct in relation to the Loan Contracts or other uses of the Lending Platform (other than our own).
14.5 We shall not be liable for any indirect, special or consequential loss or damage, including loss or damage arising out of or in connection with lost data, lost profits, damage to goodwill or business interruption, any delay or failure to perform its own obligations under these principles due to circumstances beyond our own reasonable control.
14.6 Nothing in these principles shall exclude or limit the liability of either you or us for death or personal injury caused by our own negligent acts or omissions.
15. General
15.1 If any part of the Zopa Principles that is not fundamental is found to be illegal or unenforceable, such finding will not affect the validity or enforceability of the remainder of the Zopa Principles.
15.2 You agree that all documents that we are entitled to send you electronically may be delivered to you at your My Zopa. Any notices we give you shall be given in writing via the Lending Platform to your My Zopa. You will also receive by email to your email address specified in My Zopa from time to time a prompt to refer to your My Zopa.
15.3 The records kept in the Lending Platform shall be conclusive of the facts and matters they purport to record.
15.4 "ZOPA", and related design, are trademarks of Zopa Limited.
15.5 If we do not strictly apply our rights under the Zopa Princniples at any time, that will not prevent us from doing so later.
15.6 The Zopa Principles are in English and governed by English law which shall also apply to the establishment of our relationship with you. We will only write and communicate with you in English.
15.7 If any taxes apply to you as a result of entering into this agreement you must account for them yourself.
16. System complaints and Dispute Resolution
16.1 If you wish to make a complaint about Zopa Repayment Protection, you should follow the complaints procedure outlined in the policy documentation. If you complain to us about the policy, we will refer you to the product provider.
16.2 If you want to make a complaint about Zopa you can email contactus@zopa.com., with brief details of your complaint and your account number. Our Customer Service staff will acknowledge your complaint by email within 1 business day. They will then investigate and send you an initial response, having had access to an officer with the authority to settle the complaint (including, where appropriate, an offer of redress). Where appropriate, the member of staff investigating the complaint will not be any staff member who was directly involved in the subject matter of the complaint. This should take no longer than five business days, but most complaints may well be resolved by close of business on the business day after the complaint is received. If the complaint is not resolved by close of business on the business day after the complaint is received, we will send you a copy of this complaints handling procedure. If you are not satisfied by our response, you must contact the Customer Services Manager, who will respond by email within a further five business days.
16.3 If you are not satisfied with the response from the Customer Services Manager, you can email contactus@zopa.com, enclosing the responses already given to you. Your email will then be referred to the Chief Executive Officer, who will respond by email within a final five business days.
16.4 If within four weeks after receiving a complaint, we will send you either a final response or a response which explains why we are not in a position to resolve the complaint and indicates when we will make further contact. Complaints that we cannot settle within 8 weeks after the date of complaint may ultimately be referred to the Financial Ombudsman Service. Before that option becomes available to you, you may find it helpful to make use of the conciliation scheme of the Finance & Leasing Association ("the FLA") to resolve your complaint (www.fla.org.uk, 020 7836 6511). We are a member of FLA and are bound by their Lending Code. The FLA conciliation scheme cannot deal with any complaint by a lender, or any complaint that has been, or is being, considered by the courts, or by any other independent arbitration scheme or ombudsman scheme.
17. Monitoring and compliance
17.1 Our internal procedures makes sure that we comply with the applicable provisions of the Lending Code of the FLA. We have to fill in an "annual statement of compliance" as a condition of our membership of the FLA.
17.2 The code is monitored by the FLA Lending Code Group which is made up of representatives from the finance houses and independent consumers. It also has an independent chairman. The Group produces an annual report, which we can send to you, if you ask.
17.3 You can contact the FLA Lending Group if you have a complaint about the general running of the code by writing to:
The Compliance Manager
Finance & Leasing Association
Imperial House
15-19 Kingsway
London
WC2B 6UN
18. Our Legal and Regulatory Status
Zopa Limited is:
* a company incorporated in England & Wales under company registration number 05197592, having its registered office at 3rd Floor, Radiant House, 36-38 Mortimer Street, London W1W 7RG;
* authorised and regulated by the Financial Services Authority;
* the holder of Consumer Credit Licence No. 563134;
* registered with the Office of the Information Commissioner (registration number Z879078)
* a member of the Finance & Leasing Association, CIFAS and National Hunter
19. Defined Terms
19.1 In these Principles the following words have the following meanings:
Borrower
A Zopa Member who borrows money under a Loan Contract;
Borrowing Criteria
The amount that you, as a potential Borrower, would like to borrow via the Lending Platform, whether or not you wish to purchase Zopa Repayment Protection, and the period over which you want to repay the amount borrowed;
Collections Agency
Credit Resource Solutions Limited of 46 Prescott Street, Halifax, HX1 2QW;
Confirmed Bid
A bid which a potential Borrower posts on the Lending Platform confirming an Indicative Bid;
Credit Rating
A credit rating supplied by Equifax plc in relation to a Zopa Member via the Lending Platform;
Eligibility Criteria
Conditions set out in Principle 2 which you have to satisfy to be registered as a Zopa Member;
Indicative Bid
A bid to borrow £10 from a Lender, which a potential Borrower posts on the Lending Platform setting out his or her Borrowing Criteria;
Lender
A Zopa Member who lends money under a Loan Contract and, for the purposes of enforcing a Loan Contract, includes any person to whom an Lender has transferred his or her rights under that Loan Contract;
Lending Criteria
The amount you wish to lend, the market(s) in which you wish to lend, the minimum rate you are prepared to lend at and the period over which you are prepared to lend;
Lending Platform
The internet marketplace which we operate for the purpose of matching Loan Offers and Confirmed Bids;
Loan Conditions
The standard terms and conditions displayed by the Lending Platform and agreed by each Lender and Borrower when he or she begins the process of making a Loan Offer or a Confirmed Bid, as the case may be;
Loan Contract
The agreement, incorporating the Loan Conditions, that is agreed when a Borrower's Confirmed Bid matches a Lender's Loan Offer and the Borrower electronically counter-signs the corresponding credit agreement, recording a loan of £10 to that Borrower from that Lender;
Loan Offer
An offer to lend £10 to a Borrower, which a potential Lender posts on the Lending Platform, setting out his or her Lending Criteria;
My Zopa
In relation to each Zopa Member, the part of our website which can only be accessed by that Zopa Member, using his or her own Passcodes;
Nominated Account
The current account you have with a United Kingdom bank from which you authorise us to collect payments under the direct debiting scheme, and to which we will make any payments due to you;
Passcodes
Your unique Zopa Member identification number and password, which you specify when you register as a Zopa Member;
Personal Information
The information we obtain about you from you, from our enquiries and from other organisations, such as credit reference and fraud prevention agencies. Examples of Personal Information include (1) information from application and assessment forms; (2) your requests and instructions; (3) details and analysis of how you meet your obligations under this agreement or other agreements you have with us; and (4) other information we get from making offers to you;
Zopa
Zopa Limited;
Zopa Information
All information delivered to you by us during your use of the Lending Platform (including but not limited to the credit report monitoring, personal credit scores and loan pricing data), including all copyright, database rights and all other intellectual property rights in such Information;
Zopa Repayment Protection
The payment protection insurance policy arranged by us with Pinnacle Insurance plc (trading as "Cardif Pinnacle") whose registered office is at Pinnacle House, A1 Barnet Way, Borehamwood, Hertfordshire WD6 2XX, (registered number 1007798), which is the subject of a separate insurance policy;
Zopa Member
An individual who has completed the registration process and chosen his or her own Passcode;
Zopa Members' Account
Any segregated bank account we maintain with Royal Bank of Scotland (or such other UK bank as we may choose from time to time) for the sole purpose of holding funds to which Zopa Members are beneficially entitled in accordance with these Principles and/or any Loan Contract;
Zopa Members' Lending Account
Any Zopa Members' Account maintained for the sole purpose of holding funds to which Zopa Lenders transfer funds that they wish to lend at Zopa;
Zopa Members' Repayment Account
Any Zopa Members' Account maintained for the sole purpose of holding funds to which Zopa Borrowers make repayments under Loan Contracts;
Zopa Wallet
The portion of the database that records the amount we hold for you at any time in the Zopa Members' Account.
Відповіді
2007.06.27 | Englishman
ви готові довірити свою приватну інформацію Зопі?
1. we will:1. make identity, fraud and credit checks;
2. (ii) obtain a Credit Rating for you from the credit reference agency we use;
2. you will specify a Zopa username and Passcodes.
не кажучи вже про ніким не гарантоване повернення грошей?
2007.06.27 | Koala
Класичний діалог в найблищому майбутньому:
- позич мені десятку до вихідних!- іди в Зопу!
2007.06.28 | stefan
позич мені десятку до вихідних!
> Koala пише:> Класичний діалог в найблищому майбутньому:
> - позич мені десятку до вихідних!
> - іди в Зопу!
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Idy v Zopu!