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General Terms of

1. Information About Us

1.1. B2B Finpal Sdn Bhd (“FinPAL”) is a private limited company incorporated under the law of Malaysia, and a registered recognized market operator of Peer-to-Peer (“P2P”) Financing Platform, regulated by the Securities Commission Malaysia (“SC”).

1.2. FinPAL and its parent company B2B Commerce (M) Sdn Bhd (“B2BC”), and where applicable, together with its subsidiaries, affiliates, related companies, officers, directors, employees, agents, representatives, and/or partners (“B2B” or the “Group” or “We/Our/Us”) provides you its services by way of operating the P2P Platform, web-hosting to facilitate the P2P Funding activities and/or other relevant ancillary or support services, subject to the following Terms of Service (the “Terms”) stated herein.

2. Definitions and Interpretation

2.1. In this Terms, the following expressions shall have the following meanings, unless specified otherwise

2.1.1. Business Days means a day (other than Saturday, Sunday and public holidays) on which both FinPAL and the Trustee are open for business;

2.1.2. Issued Note means a note or document evidencing the P2P Funding through the P2P Platform;

2.1.3. Issuer means a Malaysian registered sole proprietorship or partnership, or Malaysian incorporated limited liability partnership, private limited or unlisted public company, that is seeking the P2P Funding through FinPAL’s P2P Platform;

2.1.4. Investor means the person or corporation which invest into the Issued Note(s) through the P2P Platform;

2.1.5. Law means all applicable laws, rules, regulations, constitution, rulings, interpretations, customs, usages, protocols of governmental bodies and self-regulatory organisations of Malaysia, as amended, extended or re-enacted from time to time, and shall include all by-laws, instruments, orders, rules and regulations made thereunder;

2.1.6. P2P Funding means the financing/funding made available on the P2P Platform;

2.1.7. P2P Financing Platform or P2P Platform means an electronic platform that facilitates directly or indirectly the issuance, execution or offering of an Issued Note which is operated by FinPAL at its website, and includes any related mobile application or other means of accessing that electronic platform;

2.1.8. Trustee means TMF Trustee Malaysia Berhad or any trust company or any registered trustee appointed by FinPAL from time to time for the purposes of maintaining all trust accounts in respect of the P2P Funding.

2.2. If there is any inconsistency between the provisions of these Terms and any agreement entered into by FinPal, the agreement shall prevail.

2.3. Reference to a party in these Terms includes that party’s heirs, executors, administrators, personal representatives, successors and permitted assigns.

3. Services

Your understanding and acknowledgement that

3.1. FinPAL’s role as recognized market operator of the P2P Platform, is to facilitate directly or indirectly the issuance, execution or offering of Issued Note, and such role involves:

a) Perform introductory functions on behalf of prospective issuers and investors for the issuance of notes
b) Operate the P2P Platform to ensure a streamlined process for the issuance of notes
c) Facilitate the payments and collection of sums due under or in connection with those notes

The above herein referred as the “Services”.

3.2. FinPAL’s role is merely administrative and mechanical in nature, and that:

a) FinPAL is not carrying out any moneylending activities, nor financing business, nor deposit-taking business.
b) FinPAL does not offer any investment products nor investment advice, nor assumes any responsibility of advisory, fiduciary or similar duties to you.
c) FinPAL will not assume any capital risk and will not take responsibility on any defaults from Issuers.

3.3. FinPAL does not in any way represent any specific Investors or Issuers.

3.4. FinPAL’s Services shall be subject at all times to the Law, any agreement entered into with FinPAL in connection with the Services and these Terms, and FinPAL will not be liable as a result of any actions taken by any parties to comply with the Law, agreement and/or these Terms.

3.5. You have taken, or will take, the necessary independent legal, tax, financial or other advice before using or continue to use FinPAL Services.

4. Personal Data Protection

4.1 You hereby consent that FinPAL and its parent B2B Commerce may collect, obtain, maintain, store, use, process, access, review and/or disclose personal data (including sensitive personal data) about you, that can identify you in any way or manner, including pursuant to any transactions, agreements, inquiries made to us and/or when you enter our websites.

4.2 You also agree that such consent may be extended to another 3rd parties with personal data whom you have provided us with such information and that you warrant that you have obtained the consent of such 3rd parties.

4.3 You further acknowledge and agree to the Privacy Notice as published on FinPAL’s website.

5. Application And Use Of Our Services

5.1 Upon your submission of application to FinPAL platform, you hereby:

a) represent and warrant that you are solvent, have full power and the legal capacity to be bound by, and perform your obligations under the relevant agreements with us;
b) represent and warrant that you have not violated in any material respects of any laws, orders, rules and regulations, relating to money laundering, terrorism financing, or sanctions;
c) agree to comply with and accepts, this Terms and all other terms and conditions of the Services in the agreement and/or within this website;
d) irrevocably and unconditionally consent FinPAL to conduct necessary background screening and due diligence checks on yourself and/or your related parties, including directors, partners, shareholders, beneficial owners, guarantors and/or authorised signatories. Accordingly, you hereby agree that FinPAL may contact any relevant authorities, private companies, credit reporting agencies, and/or individuals to ascertain, verify and confirm relevant information about yourself and/or your related parties, including but not limited to information on, your legal, trade or credit history, as long as you have business relationship and/or outstanding balance with FinPAL.
e) agree that FinPAL may where necessary, disclose information related to your account and transaction, including confidential information, on our P2P Platform, to authorities and regulators, our related parties, agents, and/or credit reporting agencies, as long as you have business relationship and/or outstanding balance with FinPAL.

5.2 Your registration is deemed successful and you may start using our Service only after the satisfaction of our due diligence and/or credit screening and upon your acceptance to our Terms and signing the relevant agreements, forms and documents as required by FinPAL.

5.3 You acknowledge and agree that your account will be subject to regular review and/or due diligence, as long as you have business relationship and/or outstanding balance with FinPAL, and that FinPAL reserves the rights to suspend or terminate your account after such review at our sole discretion, without prior notice to you.

5.4 You undertake that you shall at all times and by any means, comply with all Laws, direction, rules, regulations, and orders applicable to the Service, as well as observe all terms, conditions and obligations within this website and the relevant agreements with us.

6. Prohibited Use Of Service

6.1 You are not allowed to act in any way that violates any national, regional and local laws, particularly those related to online commerce and transactions.

6.2 You are strictly prohibited from using the Services for any unlawful purposes or to conduct any unlawful activity, including, but not limited to, fraud, money laundering, and/or terrorist financing.

6.3 In the event of the above, we reserve the right (but with no obligation), to revoke your access, to suspend or terminate your account, to remove or refuse your transactions, to reclaim usernames without any liability to us and/or to report to relevant authorities.

7. Change of Terms

7.1 In order for us to remain viable, competitive and consistent with regulatory requirements, the Services that we provide will always be evolving and subject to revision. As such, we reserve the right to suspend, withdraw and/or change the terms, form and nature of the Service that we provide to you at our sole discretion and without prior notice to you.

8. Confidentiality

8.1 The Parties shall, to the extent practicable and possible, keep confidential, all information (written or oral) or confidential knowledge that the Parties shall have obtained or received as a result of the Services provided to you, save for those announcement and/or disclosure that is required by any applicable law or regulation.

8.2 This confidentiality provision shall continue to apply without limit in point of time but shall cease to apply to information or knowledge which may properly come into the public domain through no fault of the party so restricted.

9. Limited Liability and Warranty

9.1 Your access to and use of our Services is at your sole risk, as Issuers and/or Investors only. FinPAL makes no representation or warranty of any kind, express or implied, on the merchantability or suitability of the Services to you.

9.2 FinPAL do not guarantee that:

a) the information presented in our Service is accurate, current or reliable,
b) the information presented in our Service is free of defect, error or omission,
c) the Services is invulnerable to any fraud, dishonest conduct, money laundering or illegal activities of any users or third parties, including but not limited to security breaches, hacking or any unauthorised access;
d) access to the Services will be available at all time or be uninterrupted; and/or
e) use of the Services will achieve any particular result.

9.3 In no event will FinPAL be liable to you or any other person for any direct or indirect loss or damages, including any loss of business, profit, goodwill or reputation arising out of any use, or inability to use, the information or the Services.

9.4 You will exercise and rely solely on your own skill and judgment in your use and interpretation of the information and use of the Services. You have taken the necessary independent legal, tax, financial or other advice before using or continue to use FinPAL’s Services, and you are responsible to ensure that your use of the information and/or the Services complies with all applicable legal requirements.

9.5 You agree to hold us harmless from and against all liabilities, damages, claims, actions, costs and expenses (including legal fees), in connection with or arising out of information you submit, post, transmit or make available through the Services, from your breach of any of these Terms and/or the relevant agreements, your use of the Services and/or in connection thereof.

10. Governing Law and Jurisdiction

10.1 These Terms and other applicable terms shall be governed and construed in accordance with the laws of Malaysia, and that you irrevocably agree that any suit, action or proceedings arising thereof shall only be submitted to the jurisdiction of the Courts of Malaysia.

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