Terms & Conditions

Onehand Credit Agreement

This Agreement is made and executed on _______ between the Lender and the User

This Agreement constitutes the relationship between Onehand, an application under the company HappyHand Lending Services Inc., existing under the Philippine laws with registration number 2022100071718-01, with address at 11TH DRIVE COR 9TH AVE UNIT #1917 ONE PARK DRIVE FORT BONIFACIO, TAGUIG CITY, FOURTH DISTRICT, NATIONAL CAPITAL REGION (NCR), 1630 herein referred to as "Lender"

and

_________, of legal age, a citizen of the Philippines, with address at__________, with ID___ number_____ herein referred to as "User”

This Agreement is made and executed on _______ between the Lender and the User

The User is deemed to have agreed and expressly consented to the terms and conditions of this Agreement and is theretofore bound by the terms, conditions and obligations as stated therein. The contents of this Agreement shall include all the terms and conditions of Onehand including but not limited to the relevant registration agreements, notices and privacy policies, etc. All terms and conditions constitute an integral part of this Agreement and shall be binding between the parties.

Recitals:

The Lender is an application under the company HappyHand Lending Services Inc, that is engaged in the business of providing personal loan services and loan management services, it is a local service tailor made to the needs of the Filipinos hence the use of its services from outside the Philippines is prohibited and therefore shall be denied. The Lender provides risk rating services wherein it is akin to the credit rating services being used by the Credit Management Association of the Philippines (CMAP) in granting future and additional loans.
Users apply for personal loans through the Lender by providing basic information in order for the Lender to verify, validate, and cross reference such information for the loan’s approval.
The Lender provides a “DISCLOSURE STATEMENT ON LOAN” wherein all kind of loan fees, interest and all loan details are shown in for transparency.

Obligations of the Parties

1. The Lender shall provide the User with the services agreed upon.
2. The Lender shall ascertain whether the User is using the application for legal means to ensure the security of transactions.
3. The Lender shall only use personal data information of the User within the extent of this Agreement, to perform data checking, and risk assessment.
4. The Lender shall verify and validate the information and data provided by the User.
5. The Lender shall ensure the confidentiality of the credit information of the User
6. The User shall provide correct information.
7. The User shall pay back what is owed in accordance with Agreement such as the due date and the amount due stated in the loan details.
8. The User shall not transfer the rights to any third party under the Agreement  Without the express written consent of the Lender, otherwise the transfer shall be declared null and void.
9. The User is required to pay the Lender for the service fee and other related fees in accordance with the terms and conditions of this Agreement.
10. The User shall have a right to access their own credit information.
11. The User shall have the right to be informed about the causes of the cancellation, termination, or denial of their loan.
12. In case of insolvency of the User or by any reason loss his/her source of income, the Lender shall have all the rights for claims against the User.
13. This Agreement may only be modified, amended or terminated when both parties agree to such proposed amendment. The Lender reserves the right to change, by written notice to the User, the provisions of this Agreement in any way it may deem necessary or advisable to carry out the purpose of this Agreement as a result of any change in applicable laws or regulations or any future law, regulation, ruling, or judicial decision.

1. They are at least 18 years of age
2. Resident of the Philippines; (for foreigners provide proof of residency)
3. They are employed and/or have the financial capacity to pay the loan they apply for.
4. They will abide by the terms and conditions of the Agreement.
5. They will not do following:
   1. Provide false, untrue, fraudulent, and invalid information in order to secure a loan from the Lender;
   2. Provide misleading information to the Lender;
   3. Connive, conspire, collude or otherwise scheme with the Lender’s directors, partners and employees in securing or extending a loan;
   4. Attempt to commit or commit fraud prior and during the life of this agreement.
6. The User undertakes that all personal information provided to the Lender are true and valid. Lender is permitted to verify and/or validate such information through credit services verification, bank information verification, background investigation, company information verification.

Violations of the aforementioned undertakings shall cause the cancellation of this Agreement and the User shall be held liable for the full amount of the loan with interest and/or damages as the case may be.

1. Onehand is a platform that requires a steady and stable internet connection. For purposes of registration and loan application, the user must be connected to a secure internet connection. Internet connection is necessary in order to use the services of he Lender.  Location access is also needed in order for he Lender to verify and validate if the user is indeed located in the Philippines.
2. The User must download the Onehand application to their mobile phone or device. The user shall then provide the required information for purposes of registration. After successful registration, the user will be given their account details. The User may then proceed with the loan application as intended.
3. The User shall fill out the fields as required. The information provided must be valid and true as this will be subject to validation and verification by the Lender. These pieces of information shall be processed, collected, used and retained by the Lender subject to the limitations as mandated by the pertinent Laws and Implementing Rules and Regulations in relation to Data Privacy Laws of the Philippines.
4. The User must follow the instructions in filling out the mobile phone number, password, and the verification code in order to properly use the Onehand application.
5. Subject to the provisions of the Privacy Policy, the User agrees, consents and authorizes he Lender to collect, process and retain personal information of the User such as, but not limited to: name, address, phone number, mobile phone number, financial information, credit status information, phone contacts and other related information in order to achieve the purpose of this Agreement.
6. The Lender ensures that personal information of the User shall be protected and secured from unauthorized access, breach, disclosure or sharing.
7. The User agrees, consents and authorizes he Lender to use, manage, disclose personal data, information, archives, data sources to Third Parties in order to achieve the purpose of this Agreement including but not limited to collection, data verification, use telecom operators, among others. Subject to the limitations as set forth under the Data Privacy Act and its Implementing Rules and Regulations.
8. The User agrees, consents and authorizes the Lender to use User's name to sign "Loan Approval" or "Loan Contract", which will be in electronic form. The Lender will transmit this data to allied Banking Institutions for purposes of securing the said loan.
9. The User agrees, consents, and authorizes that the Lender may deduct the corresponding charges, fees, interest and other related fees from the time the User’s loan has been approved.
10. The User agrees, consents, and authorizes the Lender to use User information to make business recommendations. The Lender will send out business and commercial ads to mobile phones, emails, and SMS among other.

The User hereby expressly permits the Lender to transfer and disclose to:

1. the government authorities;
2. any party/person proposing or considering to tender any payment towards or purchase the indebtedness under the Loan;
3. its auditors, lawyers or any other debt collection agents;
4. credit reporting agencies;
5. insurance companies, collection companies, agents, contractors or third party service providers who are involved in the provision of products and services to or by the Lender and the holding company, head office, other branches, subsidiaries, related companies of the Lender;
6. the Lender and its holding company, head office, other branches, subsidiaries, related companies, and other persons as the Lender may deem necessary to the extent as permitted by Philippine laws. The aforesaid actions are without liability to the User. The User expressly consents to such actions and declares that no further consent from the User is necessary or required in relation thereto.

The lender shall observe the privacy of the User’s personal information obtained as a result of the loan application. The Lender has implemented reasonable and appropriate organizational, physical and technical measures to protect the User’s personal information from any accidental or illegal destruction, modification and disclosure, and any other illegal processing. The user shall operate and store personal information in strict confidentiality, and this obligation shall continue even after the termination of the employment or contractual relationship.

1. Loan Amount

The user agrees to borrow from the lender, and the lender agrees to provide the user with the specific amount specified in the Agreement.

2. Loan Term

The initial term of each Loan should be determined by the Lender according to the loan term applied by the user. The term of the loan may vary depending on the user’s choice of application subject to the approval by the Lender.

3. Charges
1. Charges on each Loan shall begin to accrue on the First Draw down date of that Loan.
2. During Loan Term, service charge will depend on the type of loan the User has applied for. If the User fails to pay on or before the Due Date, the additional charges will be reflected on the disclosure statement of loan.
4. Prepayment and Repayment
1. The User must repay the User’s Dues on or before the Due Date. 
2. The User may prepay the whole or any part of the Loan provided the Loan Term has passed at least half and not earlier than after days stated on the application from The First draw down Date.
3. The User shall be required to make payment/repayment of the User’s Dues with cash at the Payment Service Providers in partnership with the Lender or through any payment facilities as directed by the Lender from time to time.
5. Delinquent Payments
1. If the User cannot be contacted,the Lender will contact the emergency contact which was provided and a collection attempt may be made on the said emergency contact.
2. If the emergency contacts provided cannot be contacted as well or is otherwise a false or invalid information, the User authorizes and consents that the Lender will use the phone contacts collected in order to locate the User. The Lender will not disclose nor divulge any information regarding the loan or this Agreement. However, the Lender will notify the Third-Party contact that the User cannot be contacted and that the Lender will need the User’s new contact information.
3. If the User is late in payment,the Lender shall have the right to collect the payment by issuing notices in the User's account, seek assistance from a collection company or pursue legal recourse by filing the corresponding legal actions necessary against the erring User.
4. The Lender shall have the right to transfer, assign, or cede all or part of the claims to third parties including but not limited to such as the use of collection companies and others. The User agrees, consents, and authorizes the Lender to disclose necessary information in order that the collection companies may properly serve its purpose subject to the restrictions of the Data Privacy Act.
5. Collection attempts will only cease once the full amount has been settled or when the User has made an arrangement to settle the minimum amount due to be paid on a specific date. Failure to settle the payment arrangement shall cause the Lender to continue its collection attempt as provided under this Agreement.
6. Validity of the Contract
1. After signing the relevant information from Onehand’s platform and the User has been provided their distinctive customer number, the User is deemed to have agreed to the terms and conditions of this Agreement and therefore the Agreement shall be binding between the User and the Lender.
2. Once the User has successfully paid off his loan with the Lender, this agreement shall automatically be terminated unless the User opts to start a new loan. In such case, the terms and conditions of this agreement shall be binding upon the User subject to future amendments and the consent of the User.
3. If any provision contained in this Agreement conflicts with any provision in any other documents, the provision contained in this Agreement shall take precedence. Except when the subsequent document is considered as an Amendment to this Agreement. 
7. Termination
1. The User expressly agrees that if prior to or during the life of the "Loan Contract", the said User breaches its terms and conditions,  the Lender is authorized to do the following:
1. If the loan is under process, it will be denied outright;
2. If the loan has already been approved, it will be cancelled and the User shall be liable for the entire loan amount along with interest and/or damage as the case may be;
3. If after the loan is cancelled the User fails to settle the amount due as determined, the Lender shall consider the same as a delinquent account and refer the same to the proper department for collection;
4. If the collection attempts fail due to inability to contact the User and his reference contact persons among others, the Lender shall attempt to contact individuals from the phone contacts collected from the User subject to the limitations set forth under pertinent laws. No loan information shall be disclosed to Third Party contacts except for the User’s name and the Lender’s contact information.
2. The User is allowed to terminate this Agreement provided he pays the subjected total amount due with interest as determined and agreed upon by the Parties.
3. The User agrees that if the User chooses to pre-terminate the transaction, the User will be held liable to pay the full amount of the loan, subject to interests and pre-termination fees which may be deducted from the Bank account directly.
4. The Lender reserves the right to cancel the User's loan, if the User violates any of the provisions of this  Agreement.
8. Breach of Contract
Any violation of any provision hereof, any incomplete or mistaken performance of any obligation provided hereunder, any misrepresentation made hereunder, any material nondisclosure or omission of any material fact, or any failure to perform any covenants provided hereunder by any Party shall constitute a breach of this Agreement. The breaching Party shall be liable for any such breach pursuant to the applicable laws.
9. Applicable Law and Dispute Resolution
In case of suit arising out of or in connection with the interpretation or enforcement of any provision of this Agreement, the exclusive venue therefore shall be the proper courts of the Philippines.
10. Separability
In case that any provisions of this Agreement is deemed to be void, invalid, or unenforceable by a court of competent jurisdiction, that provision shall only be void, invalid, or unenforceable and will not cause nor affect the validity and enforceability of remaining provisions of this Agreement.

The Parties read and understood the Agreement and its Terms and Conditions and Privacy Policy and agrees to accept such Terms and Conditions and Privacy under this Agreement.

Disclosure statement on loan/credit transaction

1. Transfer Fee - the fees that incurred in paying and repaying the loan
2. Process Fee - contains Loan Platform Usage fee, Risk Valuation Service fee, Data query fee. Face recognition fee,  SMS Fee.
3. Interest Fee - based on the user’s score on Onehand, which may be affected by their information and loan history. Daily interest ranges from 0.1% ~ 0.5%.
4. Discount of Interest Fee -  offered during the promotion period or for the certain preferred customers.
5. Daily Management Fee - for loan longer than the default loan term (10 days), there will be a daily charge for the usage of loan starting 11th day until due day. Daily Management is free of charge for the first 10 days.
6. Additional Charges Fee - charged if the payments were not made on time.

I ACKNOWLEDGE THE RECEIPT OF A COPY OF THIS STATEMENT PRIOR TO THE CONSUMMATION OF THE CREDIT TRANSACTION AND THAT I UNDERSTAND AND FULLY AGREE TO THE TERMS AND CONDITIONS THEREOF.